Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)

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- 05309

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—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: April 30

Date of reporting period: January 31, 2013

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.

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

MUNICIPAL BONDS – 93.0%

Alabama – 0.1%

650

Camden Industrial Development Board, Alabama, Exempt Facilities Revenue Bonds, Weyerhaeuser Company Project, Series 2003B, 6.375%, 12/01/24 (Pre-refunded 12/01/13) (Alternative Minimum Tax)

12/13 at 100.00

AA+

(4)

683,332

Alaska – 0.4%

2,000

Alaska Student Loan Corporation, Education Loan Revenue Bonds, Senior Lien, Variable Rate Demand Obligation Series 2012B-1, 0.370%, 12/01/43 (Mandatory put 6/01/13) (Alternative Minimum Tax)

6/13 at 100.00

AA–

2,000,520

Arizona – 3.8%

1,545

Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2010, 5.000%, 5/15/19

No Opt. Call

A+

1,783,502

1,045

Maricopa County School District 31 Balsz, Arizona, General Obligation Bonds, School Improvement Project 2011 Series 2012, 2.000%, 7/01/14 – AGM Insured

No Opt. Call

AA–

1,064,040

5,000

Navajo County Pollution Control Corporation, Arizona, Pollution Control Revenue Refunding Bonds, Arizona Public Service Company, Cholla Project, Series 2009A, 1.250%, 6/01/34 (Mandatory put 6/01/14)

No Opt. Call

Baa1

5,007,100

Phoenix Civic Improvement Corporation, Arizona, Junior Lien Airport Revenue Bonds, Series 2010A:

775

3.000%, 7/01/13

No Opt. Call

A+

783,448

5,375

5.000%, 7/01/17

No Opt. Call

A+

6,239,676

1,270

Phoenix Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 1983, 0.000%, 12/01/14 (ETM)

No Opt. Call

Aaa

1,258,608

Phoenix Mesa Gateway Airport Authority, Arizona, Special Facility Revenue Bonds, Mesa Project, Series 2012:

200

3.000%, 7/01/14 (Alternative Minimum Tax)

No Opt. Call

AA+

205,398

130

3.000%, 7/01/15 (Alternative Minimum Tax)

No Opt. Call

AA+

134,203

300

3.000%, 7/01/16 (Alternative Minimum Tax)

No Opt. Call

AA+

311,016

500

Pima County Unified School District 10 Amphitheater, Arizona, General Obligation Bonds, School Improvement Series 2011C, 3.000%, 7/01/13

No Opt. Call

Aa2

504,525

790

Pinal County Electrical District 3, Arizona, Electric System Revenue Bonds, Refunding Series 2011, 2.500%, 7/01/15

No Opt. Call

814,767

16,930

Total Arizona

18,106,283

Arkansas – 0.7%

2,795

North Little Rock Health Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 1996B, 5.375%, 12/01/19

12/18 at 100.00

A+

3,253,296

California – 5.9%

870

ABAG Finance Authority for Nonprofit Corporations, California, Revenue Bonds, Episcopal Senior Communities, Refunding Series 2011, 4.000%, 7/01/13

No Opt. Call

BBB

880,840

Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 19C, Series 2013A:

475

2.000%, 9/01/14

No Opt. Call

N/R

476,905

495

2.250%, 9/01/15

No Opt. Call

N/R

495,243

California Health Facilities Financing Authority, Insured Refunding Revenue Bonds, Marshall Medical Center, Series 2012A:

300

3.000%, 11/01/13

No Opt. Call

305,436

495

4.000%, 11/01/14

No Opt. Call

522,601

1,000

California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, USA Waste Services Inc., Refunding Series 1998A, 2.625%, 6/01/18 (Mandatory put 6/01/14) (Alternative Minimum Tax)

No Opt. Call

BBB

1,024,070

2,330

California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Series 2011C, 4.000%, 10/01/15

No Opt. Call

2,515,072

3,000

California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2011A, 4.000%, 10/01/15

No Opt. Call

3,238,290


Nuveen Investments			1

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

California (continued)

2,500

California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/16

3/15 at 100.00

2,699,650

Carlsbad, California, Limited Obligation Refunding Bonds, Reassessment District 12-1, Series 2013:

400

2.000%, 9/01/14

No Opt. Call

N/R

405,376

250

2.000%, 9/01/15

No Opt. Call

N/R

252,955

550

Corona-Norco Unified School District Public Financing Authority, Riverside County, California, Special Tax Revenue Refunding Bonds, Senior Lien Series 2013A, 2.000%, 9/01/15 (WI/DD, Settling 2/21/13)

No Opt. Call

BBB+

555,544

2,500

Inland Valley Development Agency, California, Tax Allocation Bonds, Series 2011B, 4.250%, 3/01/41 (Mandatory put 3/01/15)

No Opt. Call

2,610,000

500

Northern California Power Agency, Hydroelectric Project Number One Revenue Bonds, Refunding Series 2010A, 5.000%, 7/01/16

No Opt. Call

A+

570,180

Pioneers Memorial Healthcare District, California, General Obligation Bonds, Refunding Series 2012:

450

3.000%, 10/01/13

No Opt. Call

BBB+

456,462

675

3.000%, 10/01/14

No Opt. Call

BBB+

695,156

Pittsburg Infrastructure Financing Authority, California, Reassessment Revenue Refunding Bonds, Series 2011A:

200

2.000%, 9/02/13 – AGM Insured

No Opt. Call

AA–

201,478

400

3.000%, 9/02/14 – AGM Insured

No Opt. Call

AA–

412,800

1,400

Port of Oakland, California, Revenue Refunding Bonds, Series 2011-O, 4.000%, 5/01/13 (Alternative Minimum Tax)

No Opt. Call

A+

1,413,104

Sacramento City Financing Authority, California, Special Tax Refunding Revenue Bonds, Westlake and Regency Park, Series 2013A:

1,685

2.000%, 9/01/13

No Opt. Call

BBB+

1,697,924

1,005

3.000%, 9/01/15

No Opt. Call

BBB+

1,047,079

550

3.000%, 9/01/16

No Opt. Call

BBB+

574,321

1,000

San Francisco Redevelopment Agency, California, Special Tax Bonds, Community Facilities District 6, Mission Bay South, Series 2002, 3.000%, 8/01/15

No Opt. Call

N/R

1,032,930

430

San Marcos Public Facilities Authority, California, Special Tax Revenue Bonds, Refunding Series 2012D, 2.000%, 9/01/13

No Opt. Call

N/R

432,537

985

Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 5.000%, 12/01/18

No Opt. Call

1,097,083

West Kern Water District, California, Certificates of Participation, Series 2011:

350

3.000%, 6/01/13

No Opt. Call

AA–

352,664

630

3.000%, 6/01/14

No Opt. Call

AA–

646,115

860

3.000%, 6/01/15

No Opt. Call

AA–

896,275

600

3.000%, 6/01/16

No Opt. Call

AA–

626,916

26,885

Total California

28,135,006

Colorado – 4.2%

Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Douglas County School District RE-1 – DCS Montessori School, Refunding & Improvement Series 2012:

210

2.000%, 7/15/14

No Opt. Call

212,195

175

2.250%, 7/15/17

No Opt. Call

176,482

500

Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Stargate Charter School, Series 2002, 6.125%, 5/01/33 (Pre-refunded 5/01/13)

5/13 at 100.00

N/R

(4)

507,330

1,010

Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003A, 5.000%, 5/15/13 – AGM Insured

No Opt. Call

AA–

1,023,170

3,345

Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.000%, 7/01/15

No Opt. Call

AA–

3,703,116


	2			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Colorado (continued)

500

Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Communities Project, Series 2012, 4.000%, 1/01/15

No Opt. Call

N/R

509,235

2,400

Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan, Series 2009B, 5.000%, 6/01/39 (Mandatory put 12/01/14)

No Opt. Call

A–

2,555,160

Colorado Health Facilities Authority, Colorado, Revenue Bonds, National Jewish Medical and Research Center, Series 2012:

350

4.000%, 1/01/14

No Opt. Call

BBB

355,922

505

4.000%, 1/01/15

No Opt. Call

BBB

522,685

840

Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Series 2012, 3.000%, 9/01/15

No Opt. Call

875,087

1,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds, Yampa Valley Medical Center, Series 2007, 5.000%, 9/15/13

No Opt. Call

BBB+

1,018,670

1,610

Colorado Springs, Colorado, Utilities System Revenue Bonds, Series 2012C-1, 3.000%, 11/15/13

No Opt. Call

1,645,839

310

Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, Parker Water and Sanitation District, Series 2004D, 4.000%, 9/01/14 – NPFG Insured

No Opt. Call

BBB

323,845

Commerce City Northern Infrastructure General Improvement District, Colorado, General Obligation Bonds, Series 2013:

365

3.000%, 12/01/15 (WI/DD, Settling 2/01/13) – AGM Insured

No Opt. Call

AA–

386,035

600

4.000%, 12/01/16 (WI/DD, Settling 2/01/13) – AGM Insured

No Opt. Call

AA–

663,060

E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/17 – NPFG Insured

No Opt. Call

BBB

49,098

Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Refunding Series 2011A:

125

3.000%, 5/01/13 (Alternative Minimum Tax)

No Opt. Call

Baa2

125,576

235

3.000%, 5/01/14 (Alternative Minimum Tax)

No Opt. Call

Baa2

238,875

345

3.500%, 5/01/15 (Alternative Minimum Tax)

No Opt. Call

Baa2

357,096

1,240

Meridian Metropolitan District, Douglas County, Colorado, General Obligation Refunding Bonds, Series 2011A, 3.000%, 12/01/15

No Opt. Call

1,303,575

360

Parker Water and Sanitation District, Douglas County, Colorado, Water and Sewer Enterprise Revenue Bonds, Refunding Series 2012, 2.000%, 11/01/13 – AGM Insured

No Opt. Call

AA–

364,568

Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013:

730

4.000%, 12/01/15

No Opt. Call

N/R

773,326

1,015

4.000%, 12/01/16

No Opt. Call

N/R

1,086,811

235

Tallyn’s Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2012, 3.000%, 12/01/15

No Opt. Call

BBB

244,003

Westminster Economic Development Authority, Colorado, Tax Increment Revenue Bonds, Mandalay Gardens Urban Renewal Project, Series 2012:

615

1.000%, 12/01/13

No Opt. Call

615,234

450

3.000%, 12/01/14

No Opt. Call

465,912

19,125

Total Colorado

20,101,905

Connecticut – 0.9%

1,235

Connecticut Development Authority, Pollution Control Revenue Bonds, Connecticut Light and Power Company, Refunding Series 2011B, 1.250%, 9/01/28 (Mandatory put 9/03/13)

No Opt. Call

1,242,447

Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G:

505

2.250%, 7/01/14

No Opt. Call

BBB

509,681

765

4.000%, 7/01/15

No Opt. Call

BBB

800,817


Nuveen Investments			3

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Connecticut (continued)

Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2012H:

500

3.000%, 7/01/13 – AGM Insured

No Opt. Call

AA–

504,970

1,150

4.000%, 7/01/14 – AGM Insured

No Opt. Call

AA–

1,200,566

4,155

Total Connecticut

4,258,481

Delaware – 0.6%

3,000

Wilmington, Delaware, Multifamily Rental Housing Revenue Bonds, Lincoln Towers Associates, LLC Project, Series 2011A and Series 2011B, 4.000%, 7/15/13

No Opt. Call

N/R

3,004,200

District of Columbia – 0.8%

1,000

District of Columbia Water and Sewerage Authority, Public Utility Revenue Bonds, Subordinate Lien Series 2012A, 4.000%, 10/01/13

No Opt. Call

1,025,610

District of Columbia, Revenue Bonds, Gallaudet University, Series 2011:

200

3.000%, 4/01/13

No Opt. Call

A+

200,634

250

3.000%, 4/01/14

No Opt. Call

A+

255,145

1,740

District of Columbia, Revenue Bonds, Georgetown University, Refunding Series 2009A, 5.000%, 4/01/14

No Opt. Call

A–

1,831,176

560

Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 5.000%, 10/01/15 – AMBAC Insured

No Opt. Call

616,812

3,750

Total District of Columbia

3,929,377

Florida – 7.5%

1,380

Broward County, Florida, Port Facilities Revenue Bonds, Refunding Series 2011B, 5.000%, 9/01/15 (Alternative Minimum Tax)

No Opt. Call

1,515,130

110

Citizens Property Insurance Corporation, Florida, High Risk Assessment Revenue, Senior Secured Bonds, Series 2009A-1, 5.000%, 6/01/16 – AGC Insured

No Opt. Call

AA–

123,551

5,250

Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1, 5.000%, 6/01/15

No Opt. Call

A+

5,734,995

Citizens Property Insurance Corporation, Florida, High-Risk Account Senior Secured Bonds Series 2010A-1:

170

3.000%, 6/01/13

No Opt. Call

A+

171,511

300

5.000%, 6/01/14

No Opt. Call

A+

317,202

305

City of Tampa, Florida, Refunding and Capital Improvement Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Series 2012A, 3.000%, 9/01/14

No Opt. Call

A+

315,559

650

Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/14

No Opt. Call

680,082

3,590

Florida Citizens Property Insurance Corporation, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1, 5.000%, 6/01/16

No Opt. Call

A+

4,029,739

Florida Higher Educational Facilities Financing Authority, Revenue and Revenue Refunding Bonds, University of Tampa Project, Series 2012A:

250

3.000%, 4/01/13

No Opt. Call

BBB+

250,863

300

4.000%, 4/01/14

No Opt. Call

BBB+

309,681

300

4.000%, 4/01/15

No Opt. Call

BBB+

315,582

Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2012A:

220

4.000%, 4/01/15

No Opt. Call

BBB+

231,187

435

4.000%, 4/01/16

No Opt. Call

BBB+

463,767

1,000

Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Refunding Series 2009E, 5.000%, 11/15/15

No Opt. Call

1,117,660

2,000

Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Variable Rate Demand Series 2005I, 5.000%, 11/15/16

No Opt. Call

2,292,500


	4			Nuveen Investments


Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)			Value
		Florida (continued)

$	1,000	Hillsborough County Industrial Development Authority, Florida, Pollution Control Revenue Bonds, Tampa Electric Company Project, Series 2007B, 5.150%, 9/01/25 (Mandatory put 9/01/13)		No Opt. Call		A3		$	1,027,040

	180	Lee County, Florida, Airport Revenue Refunding Bonds, Series 2011A, 4.000%, 10/01/13 (Alternative Minimum Tax)		No Opt. Call		A2			184,088

	1,000	Miami, Florida, Special Obligation Non-Ad Valorem Revenue Refunding Bonds, Series 2011A, 5.000%, 2/01/17		No Opt. Call		AA–			1,107,990

	500	Miami-Dade County Industrial Development Authority, Florida, Solid Waste Revenue Bonds, Waste Management Inc. of Florida Project, Series 2008, 2.625%, 8/01/23 (Mandatory put 8/01/14) (Alternative Minimum Tax)		No Opt. Call		BBB			512,370

	3,200	Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012B, 2.000%, 10/01/13		No Opt. Call		A			3,235,616

	2,000	Okeechobee County, Florida, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2004A, 0.650%, 7/01/39 (Mandatory put 7/01/13)		No Opt. Call		BBB			2,000,680

	2,330	Osceola County, Florida, Tourist Development Tax Revenue Bonds, Refunding & Improvement Series 2012, 2.000%, 10/01/13		No Opt. Call		A1			2,354,209

		Pinellas County Educational Facilities Authority, Florida, General Revenue Bonds, Barry University, Refunding Series 2011:
	905	4.000%, 10/01/13		No Opt. Call		BBB			925,652
	1,175	5.000%, 10/01/15		No Opt. Call		BBB			1,288,235
	1,060	4.000%, 10/01/16		No Opt. Call		BBB			1,145,500

	305	Pinellas County Educational Facilities Authority, Florida, General Revenue Bonds, Barry University, Refunding Series 2012, 4.000%, 10/01/15		No Opt. Call		BBB			325,600

		Volusia County Educational Facilities Authority, Florida, Educational Facilities Revenue Bonds, Embry-Riddle Aeronautical University, Inc. Project, Refunding Series 2011:
	2,380	2.000%, 10/15/14 – AGM Insured		No Opt. Call		AA–			2,401,706
	1,275	4.000%, 10/15/15 – AGM Insured		No Opt. Call		AA–			1,355,261
	33,570	Total Florida							35,732,956
		Georgia – 2.0%

	1,300	Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2011B, 5.000%, 1/01/14		No Opt. Call		A+			1,356,927

	1,300	Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company, Ninth Series 1994, 1.200%, 10/01/32 (Mandatory put 4/01/14)		No Opt. Call		A+			1,311,154

	1,500	Carroll County School District, Georgia, General Obligation Bonds, Series 2011, 4.000%, 4/01/14		No Opt. Call		AA+			1,564,320

	3,200	DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 4.000%, 9/01/15		No Opt. Call		BBB			3,328,096

	1,000	Gwinnett County Development Authority, Georgia, Certificates of Participation, County Public Schools Project, Series 2004, 5.250%, 1/01/21 (Pre-refunded 1/01/14) – NPFG Insured		1/14 at 100.00		AA+	(4)		1,045,800

	330	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University Project, Refunding Series 2012C, 4.000%, 10/01/14		No Opt. Call		Baa2			342,929

	585	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 4.000%, 10/01/14		No Opt. Call		Baa2			607,920
	9,215	Total Georgia							9,557,146
		Hawaii – 0.4%

	1,000	Hawaii Department of Budget and Finance, Special Purpose Senior Living Revenue Bonds, 15 Craigside Project, Series 2009C-1, 7.500%, 11/15/15		5/13 at 100.00		N/R			1,003,150

	1,000	Hawaii State, General Obligation Bonds, Series 2009D-Q, 4.000%, 6/01/14		No Opt. Call		AA			1,050,090
	2,000	Total Hawaii							2,053,240


Nuveen Investments			5

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Illinois – 5.5%

700

Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System Revenue Bonds, Series 2011A, 3.000%, 4/01/13

No Opt. Call

A+

702,940

2,000

Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2012A, 5.000%, 1/01/15 (Alternative Minimum Tax)

No Opt. Call

2,168,040

1,000

Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2012B, 4.000%, 1/01/15 (Alternative Minimum Tax)

No Opt. Call

1,064,990

1,070

Decatur, Illinois, General Obligation Bonds, Refunding Series 2013, 3.000%, 3/01/16

No Opt. Call

Aa2

1,132,199

4,385

Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Refunding Series 2010A, 5.000%, 3/01/15

No Opt. Call

A+

4,763,031

500

Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 6.250%, 2/01/19

No Opt. Call

Baa3

546,115

Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A:

1,655

5.000%, 11/01/13

No Opt. Call

1,701,754

1,105

5.000%, 11/01/14

No Opt. Call

1,170,239

300

Illinois Finance Authority, Revenue Bonds, The Clare at Water Tower Project, Capitol Appreciation Series 2010B, 0.000%, 5/15/50 (5)

2/13 at 15.87

N/R

700

Illinois Finance Authority, Revenue Bonds, The Clare at Water Tower Project, Refunding Series 2010A, 5.100%, 5/15/14 (5)

2/13 at 100.00

N/R

670

Illinois State, General Obligation Bonds, Refunding Series 2006, 5.000%, 1/01/15

No Opt. Call

720,411

665

Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/15 – AGM Insured

No Opt. Call

AA–

715,959

1,400

Illinois State, General Obligation Bonds, Refunding Series 2012, 4.000%, 8/01/14

No Opt. Call

1,466,920

1,525

Illinois State, General Obligation Bonds, Series 2003, 5.000%, 6/01/19 (Pre-refunded 6/01/13) – NPFG Insured

6/13 at 100.00

(4)

1,549,293

525

Illinois State, General Obligation Bonds, Series 2006A, 5.000%, 6/01/15

No Opt. Call

572,465

545

Illinois State, General Obligation Bonds, Series 2006, 5.000%, 1/01/15

No Opt. Call

586,006

Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2002:

125

5.500%, 4/01/13 – AGM Insured

No Opt. Call

AA–

126,051

1,345

5.500%, 8/01/15 – SYNCORA GTY Insured

No Opt. Call

1,491,134

320

Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 2.000%, 1/01/15 – AGM Insured

No Opt. Call

326,150

Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012:

250

2.000%, 10/01/13

No Opt. Call

Baa1

251,155

200

3.000%, 10/01/16

No Opt. Call

Baa1

207,826

Waukegan, Illinois, General Obligation Bonds, Refunding Series 2012A:

1,200

3.000%, 12/30/13 – AGM Insured

No Opt. Call

1,223,448

1,145

4.000%, 12/30/14 – AGM Insured

No Opt. Call

1,205,696

885

4.000%, 12/30/15 – AGM Insured

No Opt. Call

948,561

790

Western Illinois University, Auxiliary Facilities Revenue Bonds, Series 2012, 3.000%, 4/01/14

No Opt. Call

809,948

Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General Obligation Bonds, Series 2011:

395

5.750%, 12/01/14 – AGM Insured

No Opt. Call

AA–

425,020

450

5.750%, 12/01/15 – AGM Insured

No Opt. Call

AA–

499,982

25,850

Total Illinois

26,375,343


	6			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Indiana – 0.4%

300

Indiana Finance Authority, Hospital Revenue Bonds, Marion General Hospital Project, Series 2012A, 2.000%, 7/01/13

No Opt. Call

A+

301,989

1,000

Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Baptist Homes of Indiana, Series 2005, 5.000%, 11/15/13

No Opt. Call

A–

1,026,270

610

Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A, 3.000%, 4/01/15

No Opt. Call

631,478

1,910

Total Indiana

1,959,737

Iowa – 2.8%

Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011:

100

3.000%, 6/15/13

No Opt. Call

100,849

230

4.000%, 6/15/14

No Opt. Call

239,720

500

4.000%, 6/15/15

No Opt. Call

531,780

Iowa Finance Authority, Healthcare Revenue Bonds, Gensisi Health System, Refunding Series 2010:

310

5.000%, 7/01/13

No Opt. Call

316,014

1,150

5.000%, 7/01/16

No Opt. Call

1,290,300

2,340

5.000%, 7/01/20

No Opt. Call

2,746,715

1,315

Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Central College, Refunding Series 2012A, 3.000%, 10/01/14

No Opt. Call

Baa3

1,358,579

220

Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, University of Dubuque Project, Refunding Series 2011, 4.000%, 10/01/14

No Opt. Call

BBB–

224,770

Iowa Student Loan Liquidity Corporation Student Loan Revenue Bonds, Senior Lien Series 2011A-1:

375

2.600%, 12/01/13 (Alternative Minimum Tax)

No Opt. Call

380,501

2,000

3.100%, 12/01/14 (Alternative Minimum Tax)

No Opt. Call

2,067,200

3,900

Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Refunding Series 2009-1, 5.000%, 12/01/13

No Opt. Call

4,039,425

12,440

Total Iowa

13,295,853

Kansas – 1.2%

745

Dodge City, Kansas, General Obligation Bonds, Waterworks & Wastewater Utility Series 2012A, 2.000%, 9/01/13

No Opt. Call

A+

751,400

1,000

Kansas State Power Pool, Electric Utility Revenue Bonds, Dogwood Energy Facility, Series 2012A, 3.000%, 12/01/14

No Opt. Call

Baa1

1,030,540

500

Manhattan, Kansas, Hospital Revenue Bonds, Mercy Regional Health Center, Inc., Refunding Series 2013, 4.000%, 11/15/15

No Opt. Call

541,650

1,000

Wichita, Kansas, Hospital Facilities Revenue Bonds, Via Christi Health System, Inc., Refunding Series 2009X, 5.000%, 11/15/15

No Opt. Call

AA–

1,112,660

Wichita, Kansas, Hospital Facilities Revenue Refunding and Improvement Bonds, Via Christi Health System Inc., Series 2009A-III:

1,000

5.000%, 11/15/14

No Opt. Call

AA–

1,075,550

1,000

5.000%, 11/15/16

No Opt. Call

AA–

1,142,240

5,245

Total Kansas

5,654,040

Kentucky – 0.9%

3,000

Pikeville, Kentucky, Educational Facilities Revenue Bond, Pikeville College of Osteopathic Medicine, Bond Anticipation Notes, Series 2011, 4.000%, 5/01/13

No Opt. Call

N/R

3,023,040

750

Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011, 4.000%, 3/01/13

No Opt. Call

751,755

500

Russell, Kentucky, Revenue Bonds, Bon Secours Health System, Series 2013, 4.000%, 11/01/15

No Opt. Call

A–

533,235

4,250

Total Kentucky

4,308,030


Nuveen Investments			7

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Louisiana – 1.3%

Calcasieu Parish Public Trust Authority, Louisiana, Student Lease Revenue Bonds, McNeese State University Student Housing-Cowboy Facilities, Inc. Project, Refunding Series 2011:

535

2.000%, 5/01/13 – AGM Insured

No Opt. Call

537,006

305

2.000%, 5/01/14 – AGM Insured

No Opt. Call

309,560

315

3.000%, 5/01/15 – AGM Insured

No Opt. Call

327,918

315

3.000%, 5/01/16 – AGM Insured

No Opt. Call

329,090

Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2012:

260

2.000%, 6/01/13

No Opt. Call

A–

261,082

300

2.000%, 6/01/14

No Opt. Call

A–

304,014

1,135

Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006B, 5.000%, 6/01/15 – AMBAC Insured

No Opt. Call

A–

1,231,135

Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Refunding Bonds, Parking Facilities Corporation – Phase I Project, Series 2012:

500

3.000%, 10/01/14 – AGM Insured

No Opt. Call

AA–

516,400

1,000

3.000%, 10/01/16 – AGM Insured

No Opt. Call

AA–

1,046,920

1,350

New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2012, 4.000%, 12/01/15

No Opt. Call

1,459,890

6,015

Total Louisiana

6,323,015

Maryland – 0.2%

405

Maryland Economic Development Corporation, Student Housing Revenue Bonds, Salisbury University Project, Series 2012, 3.000%, 6/01/15

No Opt. Call

Baa3

415,113

Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial Hospital Issue, Series 2012A:

150

3.000%, 7/01/14

No Opt. Call

Baa1

154,134

220

3.000%, 7/01/15

No Opt. Call

Baa1

228,681

775

Total Maryland

797,928

Massachusetts – 1.6%

600

Massachusetts Development Finance Agency, Revenue Bonds, Lasell College, Series 2011, 2.250%, 7/01/13

No Opt. Call

BBB

603,858

525

Massachusetts Development Finance Agency, Senior Living Facility Revenue Bonds, The Groves in Lincoln Issue, Series 2009B-2, 6.250%, 6/01/14

6/13 at 100.00

N/R

262,537

1,950

Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010B, 4.500%, 1/01/16 (Alternative Minimum Tax)

7/13 at 100.00

2,071,173

325

Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Springfield College, Series 2010, 4.000%, 10/15/13

No Opt. Call

Baa1

331,282

2,500

Massachusetts Housing Finance Agency, Construction Loan Notes, Series 2012F, 0.650%, 12/01/14

No Opt. Call

A+

2,499,775

2,000

Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2003C, 5.250%, 8/01/16 (Pre-refunded 8/01/13)

8/13 at 100.00

AA+

(4)

2,050,160

7,900

Total Massachusetts

7,818,785

Michigan – 3.8%

Bridgeport Spaulding Community School District, Saginaw County, Michigan, General Obligation Bonds, Refunding Series 2011:

675

2.500%, 5/01/14 – AGM Insured

No Opt. Call

Aa2

683,978

1,250

3.000%, 5/01/15 – AGM Insured

No Opt. Call

Aa2

1,288,763

500

Caledonia Community Schools, Kent, Allegan and Barry Counties, Michigan, General Obligation Bonds, Series 2013, 3.000%, 5/01/14 (WI/DD, Settling 2/27/13)

No Opt. Call

AA–

516,330


	8			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Michigan (continued)

Detroit-Wayne County Stadium Authority, Michigan, Wayne County Limited Tax General Obligation Bonds, Building Authority Stadium Refunding Series 2012:

500

5.000%, 10/01/14

No Opt. Call

BBB+

526,845

475

5.000%, 10/01/15

No Opt. Call

BBB+

511,490

Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Healthcare Group, Series 2011A:

175

3.000%, 5/15/13

No Opt. Call

175,970

430

4.000%, 5/15/15

No Opt. Call

451,655

500

Lake Superior State University Board of Trustees, Michigan, General Revenue Refunding Bonds, Series 2012, 2.000%, 11/15/14 – AGM Insured

No Opt. Call

AA–

507,135

Michigan Finance Authority, Revenue Bonds, Detroit City School District, Series 2012:

250

5.000%, 6/01/14

No Opt. Call

A+

263,140

500

4.000%, 6/01/14

No Opt. Call

A+

519,610

2,030

Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/16

No Opt. Call

AA+

2,336,692

250

Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Oakwood Obligated Group, Series 2003, 5.500%, 11/01/13

No Opt. Call

259,133

700

Romeo Community School District, Macomb and Oakland Counties, Michigan, General Obligation Bonds, School Building & Site Series 2013, 1.000%, 5/01/14 (WI/DD, Settling 2/20/13)

No Opt. Call

Aa2

704,809

4,455

Walled Lake Consolidated School District, Oakland County, Michigan, General Obligation Bonds, Refunding Series 2011, 2.000%, 5/01/13

No Opt. Call

AAA

4,468,365

225

Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport, Refunding Series 2010A, 5.000%, 12/01/16 (Alternative Minimum Tax)

No Opt. Call

254,513

415

Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport, Refunding Series 2010C, 5.000%, 12/01/13

No Opt. Call

430,824

1,365

Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2005, 5.250%, 12/01/13 – NPFG Insured (Alternative Minimum Tax)

No Opt. Call

1,417,539

500

Western Michigan University, General Revenue Refunding Bonds, Series 2008, 3.625%, 11/15/14 – AGM Insured

No Opt. Call

AA–

525,655

595

Western Townships Utilities Authority, Michigan, Sewage Disposal System Bonds, Refunding Series 2012, 3.000%, 1/01/14

No Opt. Call

608,727

Williamston Community Schools School District, Ingham County, Michigan, General Obligation Bonds, Refunding Series 2011:

610

2.000%, 5/01/13

No Opt. Call

AA–

611,757

1,120

3.000%, 5/01/14

No Opt. Call

AA–

1,144,618

17,520

Total Michigan

18,207,548

Minnesota – 4.9%

325

Detroit Lakes, Minnesota, Housing and Health Facilities Revenue Bonds, Mankato Lutheran Home, Guaranteed by Ecumen Home Care Inc., Series 2004, 2.390%, 8/01/34

2/13 at 100.00

N/R

324,285

2,155

Farmington Independent School District 192, Dakota County, Minnesota, General Obligation Bonds, School Building Refunding Series 2012B, 3.000%, 2/01/14

No Opt. Call

Aa2

2,213,594

1,000

Independent School District 194, Lakeville, Dakota County, Minnesota, General Obligation Bonds, School Building Refunding Series 2012C, 3.000%, 2/01/14

No Opt. Call

Aa2

1,027,910

2,500

Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 5.000%, 8/01/17

No Opt. Call

BBB

2,751,350

Minneapolis, Minnesota, Revenue Bonds, Walker Minneapolis Campus Project, Refunding Series 2012:

100

2.000%, 11/15/13

No Opt. Call

N/R

100,229


Nuveen Investments			9

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Minnesota (continued)

400

2.250%, 11/15/14

No Opt. Call

N/R

402,060

705

2.600%, 11/15/15

No Opt. Call

N/R

712,769

2,500

Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2009B, 5.000%, 1/01/15 (Alternative Minimum Tax)

No Opt. Call

AA–

2,712,550

1,335

Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essential Health Obligated Group, Series 2008C-1, 5.000%, 2/15/15 – AGC Insured

No Opt. Call

AA–

1,443,295

500

Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Refunding Series 2010-7-G, 3.000%, 10/01/14

No Opt. Call

Baa3

510,380

Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R:

910

5.500%, 5/01/16

No Opt. Call

N/R

962,243

1,065

5.500%, 5/01/17

No Opt. Call

N/R

1,139,252

Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2012-7R:

270

2.000%, 12/01/13

No Opt. Call

Baa2

272,414

200

3.000%, 12/01/14

No Opt. Call

Baa2

206,798

210

3.000%, 12/01/15

No Opt. Call

Baa2

219,681

500

Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University, Series 2011-7K1, 3.000%, 10/01/13

No Opt. Call

Baa2

504,365

Minnesota Higher Education Facilities Authority, Revenue Bonds, Saint Catherine University, Series 2012-7Q:

325

3.000%, 10/01/13

No Opt. Call

Baa1

329,176

500

3.000%, 10/01/14

No Opt. Call

Baa1

514,760

450

4.000%, 10/01/15

No Opt. Call

Baa1

480,659

650

4.000%, 10/01/16

No Opt. Call

Baa1

704,964

2,210

Robbinsdale Independent School District 281, Hennepin County, Minnesota, General Obligation Bonds, School Building Refunding Series 2012B, 2.000%, 2/01/14

No Opt. Call

AA+

2,248,498

1,000

Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2010A, 5.000%, 5/01/15

No Opt. Call

1,086,940

180

Saint Paul Housing and Redevelopment Authority, Minnesota, Upper Landing Project Tax Increment Revenue Refunding Bonds, Series 2012, 5.000%, 3/01/14

No Opt. Call

N/R

185,618

1,280

Shakopee Independent School District 720, Scott County, Minnesota, General Obligation Bonds, Series 2013A, 3.000%, 2/01/17 (WI/DD, Settling 2/21/13)

No Opt. Call

Aa2

1,387,213

400

St. Paul Housing and Redevelopment Authority, Minnesota, Performing Arts Facility Revenue Bonds, Ordway Center for the Performing Arts, Series 2012, 0.950%, 7/01/13

No Opt. Call

N/R

400,080

350

Wayzata, Minnesota, Senior Housing Entrance Deposit Revenue Bonds, Folkestone Senior Living Community, Series 2012B, 4.875%, 5/01/19

5/14 at 100.00

N/R

354,074

22,020

Total Minnesota

23,195,157

Mississippi – 1.1%

125

D’Iberville, Mississippi, Tax Increment Limited Obligation Refunding Bonds, Gulf Coast Promenade Project, Series 2013, 2.000%, 4/01/14

No Opt. Call

BBB+

126,125

1,500

Mississippi Business Finance Corporation, Gulf Opportunity Zone Revenue Bonds, Coast Electric Power Association, Series 2007C, 0.500%, 5/01/37 (Mandatory put 5/01/13)

5/13 at 100.00

1,500,225

3,235

Mississippi Development Bank, Special Obligation Bonds, Jackson County Limited Tax Note, Series 2009B-1, 4.000%, 7/01/15 – AGC Insured

No Opt. Call

AA–

3,476,202

4,860

Total Mississippi

5,102,552


	10			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Missouri – 3.9%

Boone County, Missouri, Hospital Revenue Bonds, Boone Hospital Center, Refunding Series 2012:

250

3.000%, 8/01/14

No Opt. Call

256,285

1,000

3.000%, 8/01/15

No Opt. Call

1,038,120

Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2011:

250

2.500%, 2/15/13

No Opt. Call

BBB+

250,085

360

2.750%, 2/15/14

No Opt. Call

BBB+

361,955

320

Joplin Industrial Development Authority, Missouri, Revenue Bonds, Christian Homes Inc., Series 2007F, 5.500%, 5/15/17

No Opt. Call

BBB–

355,699

2,020

Missouri Development Finance Board, Independence, Infrastructure Facilities Revenue Bonds, Water System Improvement Projects, Series 2009E, 4.000%, 11/01/16

11/14 at 100.00

A–

2,116,152

150

Missouri Development Finance Board, Infrastructure Facilities Leasehold Revenue Bonds, City of Independence, Missouri, Annual Appropriation Electric System Revenue Bonds – Dogwood Project, Series 2012A, 2.000%, 6/01/13

No Opt. Call

150,533

Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Southwest Baptist University Project, Series 2012:

240

3.000%, 10/01/13

No Opt. Call

BBB–

242,767

470

3.000%, 10/01/14

No Opt. Call

BBB–

481,933

480

3.000%, 10/01/15

No Opt. Call

BBB–

496,728

495

3.000%, 10/01/16

No Opt. Call

BBB–

509,395

615

Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds The Childrens Mercy Hospital, Series 2009, 3.000%, 5/15/13

No Opt. Call

A+

619,514

270

Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Capital Region Medical Center, Series 2011, 3.000%, 11/01/13

No Opt. Call

272,511

700

Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, St. Luke’s Episcopal and Presbyterian Hospitals, Series 2011, 5.000%, 12/01/13

No Opt. Call

A+

726,026

720

Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2012, 5.000%, 2/15/16

No Opt. Call

BBB+

794,196

675

Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2012, 3.000%, 2/15/14

No Opt. Call

BBB+

688,703

475

Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University, Series 2011A, 3.000%, 10/01/13

No Opt. Call

BBB

481,916

340

Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Revenue Bonds, Series 2006, 5.000%, 1/01/16 – NPFG Insured

No Opt. Call

A–

369,611

1,245

Missouri State Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Freeman Health System, Series 2012, 5.000%, 2/15/15

No Opt. Call

BBB+

1,337,777

300

Northwest Missouri State University, Housing System Revenue Bonds, Refunding Series 2012, 0.700%, 6/01/14

No Opt. Call

300,621

2,200

Park Hill School District, Platte County, Missouri, General Obligation Bonds, Refunding Series 2013, 2.000%, 3/01/14

No Opt. Call

AA+

2,242,460

2,435

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2011B, 5.000%, 7/01/14

No Opt. Call

A–

2,563,690

530

St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2012, 5.000%, 9/01/17

No Opt. Call

591,533

240

St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/14 – AGM Insured

No Opt. Call

AA–

252,684

950

St. Louis, Missouri, Airport Revenue Bonds, Series 1970, 5.000%, 7/01/15

No Opt. Call

A–

1,030,978

17,730

Total Missouri

18,531,872


Nuveen Investments			11

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Montana – 0.4%

1,740

Montana Facilities Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Campsite Deal Series 2010B, 5.000%, 1/01/19

No Opt. Call

2,069,974

Nebraska – 0.4%

250

Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A, 5.250%, 12/01/21

No Opt. Call

284,865

505

Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 4.000%, 11/01/15

No Opt. Call

A–

545,102

1,125

Washington County, Nebraska, Wastewater and Solid Waste Disposal Facilities Revenue Bonds, Cargill Inc. Project, Variable Rate Demand Series 2012, 1.375%, 9/01/30 (Mandatory put 9/01/15) (Alternative Minimum Tax)

No Opt. Call

1,126,789

1,880

Total Nebraska

1,956,756

Nevada – 0.6%

Carson City, Nevada, Hospital Revenue Refunding Bonds, Carson-Tahoe Regional Healthcare Project, Series 2012:

235

2.000%, 9/01/13

No Opt. Call

BBB+

236,281

250

3.000%, 9/01/14

No Opt. Call

BBB+

256,220

650

Clark County School District, Nevada, General Obligation Bonds, Limited Tax Series 2007C, 5.000%, 6/15/13

No Opt. Call

AA–

661,583

1,865

Clark County, Nevada, Local Improvement Refunding Bonds, Special Improvement District 142 Mountain’s Edge, Series 2012, 2.000%, 8/01/13

No Opt. Call

BBB-

1,871,695

3,000

Total Nevada

3,025,779

New Jersey – 3.9%

New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2012A:

1,000

5.000%, 7/01/14

No Opt. Call

BBB+

1,061,090

1,500

4.000%, 7/01/15

No Opt. Call

BBB+

1,603,260

1,000

New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 5.000%, 7/01/13

No Opt. Call

BB+

1,013,180

4,000

New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2011A, 5.000%, 7/01/15

No Opt. Call

BBB+

4,343,440

4,000

New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2011-1, 5.000%, 12/01/14 (Alternative Minimum Tax)

No Opt. Call

Aa3

4,297,640

New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1A:

975

3.000%, 12/01/13 (Alternative Minimum Tax)

No Opt. Call

993,788

1,285

4.000%, 12/01/14 (Alternative Minimum Tax)

No Opt. Call

1,357,307

3,100

New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/18

No Opt. Call

A+

3,709,398

16,860

Total New Jersey

18,379,103

New Mexico – 0.6%

750

Aztec Municipal School District 2, San Juan County, New Mexico, General Obligation Bonds, Refunding Series 2010B, 4.000%, 10/01/13

No Opt. Call

Aa1

766,305

2,050

New Mexico Educational Assistance Foundation, Education Loan Bonds, Senior Lien Series 2009A, 3.900%, 9/01/14 (Alternative Minimum Tax)

No Opt. Call

Aaa

2,135,280

2,800

Total New Mexico

2,901,585

New York – 4.1%

390

Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Medaille College, Series 2012, 2.125%, 4/01/15 (WI/DD, Settling 2/06/13)

No Opt. Call

BB+

390,324


	12			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

New York (continued)

1,545

Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013A, 2.000%, 11/15/14

No Opt. Call

1,589,990

Monroe County Industrial Development Corporation, New York, Revenue Bonds, St. John Fisher College, Series 2012A:

325

3.000%, 6/01/13

No Opt. Call

Aa3

327,454

815

3.000%, 6/01/14

No Opt. Call

Aa3

835,693

500

Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Winthrop-University Hospital Association, Series 2012, 3.000%, 7/01/13

No Opt. Call

Baa1

504,115

2,500

Nassau Health Care Corporation, New York, Revenue Anticipation Notes, Series 2013A, 2.250%, 12/15/13

No Opt. Call

AA–

2,540,575

1,000

New York City,New York, Industrial Development Agency, Senior Airport Facilities Revenue Refunding Bonds, Trips Obligated Group, Series 2012A, 5.000%, 7/01/13 (Alternative Minimum Tax)

No Opt. Call

BBB–

1,014,490

1,035

New York City, New York, General Obligation Bonds, Fiscal 2012 Series I, 5.000%, 8/01/14

No Opt. Call

1,106,498

175

New York City, New York, General Obligation Bonds, Fiscal Series 2003J, 5.500%, 6/01/20 (Pre-refunded 6/01/13)

6/13 at 100.00

(4)

178,108

2,000

New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, New York State Electric and Gas Corporation, Series 2011A, 2.125%, 3/15/15

No Opt. Call

A–

2,035,980

500

New York State Thruway Authority, General Revenue Bonds, Series2012I, 4.000%, 1/01/15

No Opt. Call

A+

532,495

300

Niagara Area Development Corporation, New York, Niagara University Project, Series 2012A, 3.000%, 5/01/13

No Opt. Call

BBB+

301,629

2,120

Schenectady County Capital Resource Corporation, New York, FHA insured Mortgage Revenue Bonds, Ellis Hospital Project, Refunding Series 2012, 1.750%, 2/15/18 – AGM Insured

No Opt. Call

AA+

2,127,759

1,250

St. Lawrence County Industrial Development Agency Civic Development Corporation, New York, Revenue Bonds, Clarkson University Project, Series 2012B, 2.500%, 9/01/42 (Mandatory put 3/01/16)

No Opt. Call

1,281,875

600

Tobacco Settlement Financing Corporation, New York, Asset-Backed Revenue Bonds, State Contingency Contract Secured, Series 2011A, 4.000%, 6/01/13

No Opt. Call

AA–

607,476

1,265

Yonkers, New York, General Obligation Bonds, Series 2005A, 5.000%, 8/01/13 – NPFG Insured

No Opt. Call

BBB+

1,290,313

1,500

Yonkers, New York, General Obligation Bonds, Series 2011A, 5.000%, 10/01/14

No Opt. Call

BBB+

1,599,165

1,250

Yonkers, New York, General Obligation Refunding Bonds, Series 2012A, 4.000%, 7/01/15

No Opt. Call

BBB+

1,333,425

19,070

Total New York

19,597,364

North Dakota – 1.0%

Burleigh County, North Dakota, Health Care Revenue Refunding Bonds, St. Alexius Medical Center Project, Series 2012A:

225

2.500%, 7/01/13

No Opt. Call

A–

226,112

300

2.500%, 7/01/14

No Opt. Call

A–

302,481

3,040

Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 3.500%, 11/01/16

No Opt. Call

A+

3,240,792

Williston Parks and Recreation District, North Dakota, Sales Tax & Gross Revenue Bonds, Series 2012A:

200

1.150%, 3/01/14

No Opt. Call

200,186

600

2.000%, 3/01/15

No Opt. Call

608,568

4,365

Total North Dakota

4,578,139


Nuveen Investments			13

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Ohio – 1.5%

785

Cleveland State University, Ohio, General Receipts Bonds, Series 2007A, 5.750%, 6/01/14 – FGIC Insured

No Opt. Call

A+

840,186

1,000

Cleveland, Ohio, Airport System Revenue Bonds, Series 2011A, 3.000%, 1/01/14

No Opt. Call

A–

1,021,580

1,000

Ohio Air Quality Development Authority, Ohio, Air Quality Revenue Refunding Bonds, Ohio Power Company Project, Series 2010A, 3.250%, 6/01/41 (Mandatory put 6/02/14)

No Opt. Call

Baa1

1,020,860

4,000

Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Refunding Bonds, FirstEnergy Generation Corp. Project, Series 2009D, 2.250%, 8/01/29 (Mandatory put 9/15/16)

No Opt. Call

BBB–

4,034,720

6,785

Total Ohio

6,917,346

Oklahoma – 0.3%

1,125

Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jenks Public Schools Project, Series 2009, 5.000%, 9/01/14

No Opt. Call

AA–

1,206,551

Oregon – 1.0%

660

Klamath Falls Intercommunity Hospital Authority, Oregon, Revenue Bonds, Sky Lakes Medical Center Project, Series 2012, 4.000%, 9/01/15

No Opt. Call

BBB+

699,079

2,850

Medford Hospital Facilities Authority, Oregon, Hospital Revenue Bonds, Asante Health System, Refunding Series 2010, 5.000%, 8/15/15 – AGM Insured

No Opt. Call

AA–

3,146,828

360

Multnomah County Hospital Facilities Authority, Oregon, Revenue Refunding Bond, Terwilliger Plaza, Inc., Series 2012, 2.000%, 12/01/14

No Opt. Call

BBB

362,880

420

Portland, Oregon, Sewer System Revenue Bonds, Refunding Series 2007A, 5.000%, 6/01/14 – NPFG Insured

No Opt. Call

446,393

4,290

Total Oregon

4,655,180

Pennsylvania – 7.1%

1,240

Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Refunding Series 2010A, 5.000%, 1/01/16 – AGM Insured (Alternative Minimum Tax)

No Opt. Call

AA–

1,372,196

Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Saint Anne’s Retirement Community, Inc. , Series 2012:

690

2.250%, 4/01/13

No Opt. Call

BB+

690,062

655

3.000%, 4/01/14

No Opt. Call

BB+

656,552

2,340

Penn Hills School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2012A, 4.000%, 10/01/14

No Opt. Call

2,475,346

220

Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2009, 1.750%, 12/01/33 (Mandatory put 12/01/15)

No Opt. Call

BBB

220,436

3,000

Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2011, 2.625%, 7/01/41 (Mandatory put 7/01/14)

No Opt. Call

BBB

3,043,950

Pennsylvania Higher Educational Facilities Authority, Pennsylvania, Revenue Bonds, Saint Francis University, Series 2012-LL2:

130

2.000%, 5/01/13

No Opt. Call

BBB–

130,293

165

2.000%, 11/01/13

No Opt. Call

BBB–

165,987

840

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, AICUP Financing Program-Delaware Valley College of Science and Agriculture Project, Series 2012 LL1, 4.000%, 11/01/16

No Opt. Call

Baa3

893,180

725

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, AICUP Financing Program-Mount Aloysius College Project, Series 2011R-1, 2.000%, 11/01/41 (Mandatory put 4/30/13)

4/13 at 100.00

A–

725,435


	14			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Pennsylvania (continued)

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Association of Independent Colleges and Universities of Pennsylvania Financing Program-Messiah College Project, Series 2001-14:

3,000

0.700%, 11/01/31 (Mandatory put 5/01/13)

5/13 at 100.00

3,001,320

2,000

0.625%, 11/01/31 (Mandatory put 11/01/13)

No Opt. Call

2,000,980

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Foundation for Student Housing at Indiana University, Project Series 2012A:

100

3.000%, 7/01/13

No Opt. Call

BBB+

100,730

100

3.000%, 7/01/14

No Opt. Call

BBB+

102,193

320

3.000%, 7/01/15

No Opt. Call

BBB+

330,730

2,510

Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue, Series 2011B, 3.000%, 12/01/13

No Opt. Call

A–

2,560,426

1,780

Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Tenth Series 2011B, 4.000%, 7/01/13

No Opt. Call

BBB+

1,802,909

1,000

Philadelphia Redevelopment Authority, Pennsylvania, Revenue Bonds, Philadelphia Neighborhood Transformation Initiative, Series 2012, 5.000%, 4/15/14

No Opt. Call

1,050,140

915

Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2011B, 3.000%, 9/01/13

No Opt. Call

929,942

920

Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2011C, 3.000%, 9/01/13

No Opt. Call

935,024

500

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2011A, 4.000%, 6/15/13 (Alternative Minimum Tax)

No Opt. Call

A+

505,940

5,000

Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011, 5.000%, 8/01/14

No Opt. Call

5,293,700

500

Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Refunding Series 2010A, 5.000%, 6/15/13 – AGM Insured

No Opt. Call

AA–

508,835

455

Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012A, 3.000%, 9/01/14

No Opt. Call

470,024

Scranton, Pennsylvania, Sewer Authority Revenue Bonds, Series 2011A:

250

2.250%, 12/01/13 – AGM Insured

No Opt. Call

AA–

252,790

540

3.500%, 12/01/14 – AGM Insured

No Opt. Call

AA–

562,729

Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community Hospital Project, Refunding and Improvement Series 2011:

1,385

4.000%, 8/01/15

No Opt. Call

BBB+

1,439,043

1,440

4.250%, 8/01/16

No Opt. Call

BBB+

1,517,026

32,720

Total Pennsylvania

33,737,918

Puerto Rico – 0.8%

500

Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Bonds, Inter-American University of Puerto Rico Project, Refunding Series 2012, 4.000%, 10/01/14

No Opt. Call

A–

517,220

2,500

Puerto Rico Infrastructure Financing Authority, Revenue Bonds, Ports Authority Project, Series 2011C, 3.000%, 12/15/26 (Mandatory put 12/15/13) (Alternative Minimum Tax)

No Opt. Call

BBB–

2,519,275

500

Puerto Rico Municipal Finance Agency, Series 2005B, 5.000%, 7/01/14 – CIFG Insured

No Opt. Call

AA–

520,660

370

Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/14 – NPFG Insured

No Opt. Call

BBB

386,539

3,870

Total Puerto Rico

3,943,694

Rhode Island – 0.6%

2,800

Rhode Island Health & Educational Building Corporation, Revenue Bonds, Lifespan Obligated Group, Series 2006A, 5.000%, 5/15/13

No Opt. Call

AA–

2,836,512


Nuveen Investments			15

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

South Carolina – 0.4%

500

South Carolina JOBS Economic Development Authority, Hospital Revenue Bonds, Bon Secours Health System Obligated Group, Series 2012, 4.000%, 11/01/15

No Opt. Call

A–

532,820

590

South Carolina JOBS Economic Development Authority, Revenue Bonds, Waste Management of South Carolina, Inc. Project, Series 2008, 2.875%, 2/01/15

No Opt. Call

BBB

604,290

500

South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding & Improvement Series 2009, 5.000%, 8/01/15

No Opt. Call

BBB+

543,915

1,590

Total South Carolina

1,681,025

South Dakota – 0.6%

Rapid City, South Dakota, Sales Tax Revenue Bonds, Series 2013:

320

2.000%, 6/01/13 (WI/DD, Settling 2/05/13)

No Opt. Call

Aa3

321,786

435

2.000%, 12/01/13 (WI/DD, Settling 2/05/13)

No Opt. Call

Aa3

440,925

1,305

South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2009, 4.500%, 11/01/15

No Opt. Call

A+

1,416,251

730

South Dakota Health and Educational Facilities Authority, Revenue Bonds, Westhills Village Retirement Community, Series 2012, 3.500%, 9/01/16

No Opt. Call

766,150

2,790

Total South Dakota

2,945,112

Tennessee – 1.7%

1,000

Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2010B, 5.000%, 7/01/16 (Alternative Minimum Tax)

No Opt. Call

1,123,070

1,270

Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009B, 5.500%, 11/01/20

11/19 at 100.00

AA–

1,559,497

Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012:

500

2.000%, 11/01/13

No Opt. Call

BBB+

504,500

1,000

2.000%, 11/01/14

No Opt. Call

BBB+

1,016,090

1,050

2.000%, 11/01/15

No Opt. Call

BBB+

1,065,509

1,000

3.000%, 11/01/16

No Opt. Call

BBB+

1,040,760

1,800

Metropolitan Nashville Airport Authority, Tennessee, Airport Revenue Bonds, Refunding & Improvement Series 2010A, 5.000%, 7/01/16

No Opt. Call

2,029,248

7,620

Total Tennessee

8,338,674

Texas – 5.4%

1,986

BB&T Various States Municipal Trust Pool, Texas, Class B Certificates, Series 2011, 0.970%, 9/01/14

No Opt. Call

AA–

1,985,183

1,000

Brazosport Independent School District, Brazoria County, Texas, General Obligation Bonds, Series 2004, 5.000%, 2/15/20 (Pre-refunded 2/15/14)

2/14 at 100.00

Aaa

1,048,930

1,000

Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2009A, 5.000%, 11/01/21

11/16 at 100.00

A+

1,133,170

1,000

Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010, 4.000%, 7/01/15

No Opt. Call

BBB+

1,043,690

455

Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2009, 3.000%, 4/01/14

No Opt. Call

467,167

1,150

Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Refunding Series 2011A, 5.000%, 9/01/13

No Opt. Call

1,181,418

1,000

Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2011A, 5.000%, 7/01/13 (Alternative Minimum Tax)

No Opt. Call

A+

1,019,810

2,600

Lower Colorado River Authority, Texas, Revenue Refunding Bonds, Series 2012A, 2.000%, 5/15/13

No Opt. Call

2,613,026

2,005

Midtown Redevelopment Authority, Texas, Tax Increment Contract Revenue, Refunding Series 2011, 4.000%, 1/01/15

No Opt. Call

A–

2,100,699


	16			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Texas (continued)

3,325

Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Allied Waste North America, Inc., Series 2008A, 0.450%, 1/01/20

4/13 at 100.00

BBB

3,325,000

500

Sabine Pass Independent School District, Jefferson County, Texas, General Obligation Bonds, Series 2003, 0.000%, 8/15/34 (Pre-refunded 8/15/13)

8/13 at 32.33

AAA

161,305

1,015

Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series 2012, 5.000%, 10/01/14

No Opt. Call

BBB+

1,083,624

Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Series 2009A:

1,425

4.000%, 9/01/15 – AGC Insured

No Opt. Call

AA–

1,530,379

1,170

4.000%, 9/01/16 – AGC Insured

No Opt. Call

AA–

1,281,571

1,405

4.375%, 9/01/18 – AGC Insured

No Opt. Call

AA–

1,614,457

3,000

Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/16

No Opt. Call

3,310,260

1,000

Val Verde County, Texas, Pass-Through Toll Revenue and Limited Tax Bonds, Series 2011, 2.000%, 8/15/13

No Opt. Call

1,005,220

25,036

Total Texas

25,904,909

Virgin Islands – 0.9%

2,985

Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2012C, 3.000%, 10/01/17

No Opt. Call

BBB+

3,082,251

1,035

Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B, 5.000%, 10/01/19

No Opt. Call

BBB+

1,171,682

4,020

Total Virgin Islands

4,253,933

Virginia – 3.8%

1,100

Dulles Town Center Community Development Authority, Loudon County, Virginia Special Assessment Refunding Bonds, Dulles Town Center Project, Series 2012, 3.000%, 3/01/16

No Opt. Call

N/R

1,109,295

1,000

Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, MediCorp Health System, Series 2007, 5.000%, 6/15/17

No Opt. Call

Baa1

1,126,490

1,250

Henrico County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours Health System Obligated Group, Series 2013, 4.000%, 11/01/16

No Opt. Call

A–

1,346,625

1,000

Louisa Industrial Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company, Series 2008c, 5.375%, 11/01/35 (Mandatory put 12/02/13)

No Opt. Call

A–

1,042,110

310

Virginia Beach, Virginia, General Obligation Public Improvement Bonds, Series 2003A, 5.500%, 5/01/13

No Opt. Call

AAA

314,129

7,000

Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2006D-1, 4.300%, 1/01/14 (Alternative Minimum Tax)

No Opt. Call

AAA

7,170,220

6,000

Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2004A, 5.000%, 8/01/14

8/13 at 100.00

AA+

6,138,480

17,660

Total Virginia

18,247,349

Washington – 1.3%

King and Pierce Counties School District 408 Auburn, Washington, General Obligation Bonds, Refunding Series 2013:

1,595

3.000%, 12/01/13

No Opt. Call

Aa1

1,631,829

400

3.000%, 12/01/14

No Opt. Call

Aa1

419,076

1,000

Port of Seattle, Washington, Revenue Bonds, Refunding Inter-Lien Series 2010C, 5.000%, 2/01/16

No Opt. Call

Aa3

1,118,780

205

Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012, 4.000%, 12/01/16

No Opt. Call

Baa3

218,692

Washington Higher Education Facilities Authority Revenue Bonds, Whitworth University Project, Series 2012:

100

3.000%, 10/01/13

No Opt. Call

Baa1

101,159


Nuveen Investments			17

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

Washington (continued)

150

3.000%, 10/01/14

No Opt. Call

Baa1

154,007

275

4.000%, 10/01/16

No Opt. Call

Baa1

295,457

Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009:

1,225

5.000%, 7/01/13

No Opt. Call

Baa3

1,241,146

1,150

5.000%, 7/01/14

No Opt. Call

Baa3

1,193,424

6,100

Total Washington

6,373,570

West Virginia – 0.5%

1,000

Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 2.000%, 10/01/22 (Mandatory put 10/01/14)

No Opt. Call

Baa2

1,016,320

1,500

West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2011A, 2.250%, 1/01/41 (Mandatory put 9/01/16) (Alternative Minimum Tax)

No Opt. Call

BBB

1,521,690

2,500

Total West Virginia

2,538,010

Wisconsin – 1.0%

130

Appleton, Wisconsin, Storm Water System Revenue Bonds, Series 2012, 2.000%, 4/01/14

No Opt. Call

Aa2

132,006

600

La Crosse, Wisconsin, General Obligation Bonds, Series 2012B, 2.000%, 12/01/13

No Opt. Call

608,472

1,000

Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010A, 5.000%, 4/15/16

No Opt. Call

1,107,330

765

Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 2.500%, 10/15/13

No Opt. Call

A+

775,213

350

Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Howard Young Health Care, Inc., Refunding Series 2012, 3.000%, 8/15/13

No Opt. Call

BBB+

353,343

1,025

Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C, 2.500%, 8/15/13

No Opt. Call

A+

1,036,439

270

Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Series 2010A, 5.000%, 8/15/15

No Opt. Call

A+

293,277

500

Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Watertown Regional Medical Center, Inc., Series 2012, 2.000%, 9/01/16

No Opt. Call

BBB+

504,930

4,640

Total Wisconsin

4,811,010

Wyoming – 0.2%

Natrona County, Wyoming, Hospital Revenue Bonds, Wyoming Medical Center Project, Series 2011:

200

4.000%, 9/15/14

No Opt. Call

207,522

530

4.000%, 9/15/15

No Opt. Call

560,115

300

4.000%, 9/15/16

No Opt. Call

319,568

1,030

Total Wyoming

1,087,205

424,881

Total Municipal Bonds (cost $435,068,298)

444,372,300

Shares

Description (1)

Value

SHORT-TERM INVESTMENTS – 9.4%

Money Market Funds – 3.3%

15,422,766

First American Tax Free Obligations Fund, Class Z, 0.000% (6)

15,422,766


	18			Nuveen Investments

Principal
Amount (000)

Description (1)

Optional Call
Provisions (2)

Ratings (3)

Value

MUNICIPAL BONDS – 6.1%

Arizona – 1.1%

5,500

Glendale Industrial Development Authority, Arizona, Senior Living Facility Revenue Bonds, Variable Rate Demand Obligations, Friendship Retirement Corporation, Senior Lien, Series 1997, 0.200%, 1/01/27 (7)

5/13 at 100.00

A-1+

5,500,000

California – 1.2%

3,335

California Municipal Finance Authority, Variable Rate Demand Obligations, Revenue Bonds, Goodwill Industries of Orange County, Series 2008, 0.150%, 10/01/33 (7)

4/13 at 100.00

F-1+

3,335,000

2,500

California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc., Variable Rate Demand Obligations, Refunding Series 2010B, 0.450%, 8/01/24 (7)

No Opt. Call

A-2

2,500,000

5,835

Total California

5,835,000

Colorado – 0.4%

2,075

Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Denver Seminary Project, Variable Rate Demand Obligations, Series 2004, 0.200%, 7/01/34 (7)

5/13 at 100.00

A-1+

2,075,000

Kentucky – 0.2%

860

Kentucky Economic Development Finance Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc., Variable Rate Demand Obligations, Refunding 2010B, 0.430%, 4/01/31 – AGM Insured (7)

No Opt. Call

A-2

860,000

New York – 1.4%

6,500

New York State Environmental Facilities Corporation, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Variable Rate Demand Obligations, Refunding Series 2012, 0.600%, 5/01/30 (7)

No Opt. Call

A-2

6,500,000

Texas – 1.8%

3,000

Houston Higher Education Finance Corporation, Texas, Revenue Bonds, Rice University, Variable Rate Demand Obligations, Series 2006A, 0.090%, 11/15/29 (7)

4/13 at 100.00

A-1

3,000,000

5,500

Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Republic Services Inc. Project, Variable Rate Demand Obligations, Series 2012, 0.600%, 1/01/26 (Alternative Minimum Tax) (7)

No Opt. Call

A-2

5,500,000

8,500

Total Texas

8,500,000

29,270

Total Municipal Bonds

29,270,000

Total Short-Term Investments (cost $44,692,766)

44,692,766

Total Investments (cost $479,761,064) – 102.4%

489,065,066

Other Assets Less Liabilities – (2.4)%

(11,486,499)

Net Assets – 100%

477,578,567

Fair Value Measurements

Fair value is defined as the price that the Fund would receive 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, prepayment speeds, credit risk, etc.).
Level 3 –		Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).


Nuveen Investments			19

Portfolio of Investments (Unaudited)

Nuveen Short Term Municipal Bond Fund (continued)

January 31, 2013

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	$	—	$	444,372,300	$	—	$	444,372,300
Short-Term Investments:
Money Market Funds		15,422,766		—		—		15,422,766
Municipal Bonds		—		29,270,000		—		29,270,000
Total	$	15,422,766	$	473,642,300	$	—	$	489,065,066

The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.

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 certain gains and losses on investment transactions. 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.

As of January 31, 2013, the cost of investments was $479,761,064.

Gross unrealized appreciation and gross unrealized depreciation of investments as of January 31, 2013, were as follows:


Gross unrealized:
Appreciation	$	10,327,005
Depreciation		(1,023,003	)
Net unrealized appreciation (depreciation) of investments	$	9,304,002


	20			Nuveen Investments

(1)

All percentages shown in the Portfolio of Investments are based on net assets.

(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)

Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.

(5)

During July 2010, the original issue for this security (1,000,000 par, 5.50% coupon and May, 15, 2015 maturity) was restructured into two new securities. The first security, which is 30% of the original issue, has 300,000 par, 0.000% coupon and May 15, 2050 maturity. The second security, which is the remaining 70% of the original issue, has a 700,000 par, 5.100% coupon and May 15, 2014 maturity. During September 2011, the Adviser concluded this issue is not likely to meet its future interest payment obligations and directed the Fund’s custodian to cease accruing additional income on the Fund’s records.

(6)

The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

(7)

Investment has a maturity of more than one year, but has variable rate and demand features which qualify it as a short-term investment. The rate disclosed is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

N/R

Not rated.

WI/DD

Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

(ETM)

Escrowed to maturity.


Nuveen Investments			21

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 Rules 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 Investment Funds, Inc.


By (Signature and Title)		/s/ Kevin J. McCarthy
		Kevin J. McCarthy
		Vice President and Secretary

Date: April 1, 2013

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/ Gifford R. Zimmerman
		Gifford R. Zimmerman
		Chief Administrative Officer (principal executive officer)

Date: April 1, 2013


By (Signature and Title)		/s/ Stephen D. Foy
		Stephen D. Foy
		Vice President and Controller (principal financial officer)

Date: April 1, 2013

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