Closed-End Funds


Nuveen California Dividend Advantage Municipal Fund 3 (NYSE MKT: NZH)

On September 12th, 2016, shareholders approved a plan to merge the Nuveen California Dividend Advantage Municipal Fund 2 (NVX) and Nuveen California Dividend Advantage Municipal Fund 3 (NZH) into the acquiring fund, Nuveen California Dividend Advantage Municipal Fund (NAC), and to rename the fund Nuveen California Quality Municipal Income Fund. For details, see the Press Release and Questions & Answers document.

Asset Allocation*

As of 09/30/2016

Fund Characteristics*

As of 9/30/2016 
# of Holdings 158
% Income Subject to AMT (As of 8/31/2016)7.79%
Avg. Coupon 4.81%
Avg. Coupon not including Zero Coupon Bonds5.33%
Avg. Bond Price as a % of par$104.02
Avg. Bond Price not including Zero Coupon Bonds$112.14
% of Portfolio Allocated to Zero Coupon Bonds3.09%
Avg. Effective Duration 7.64
Avg. Leverage-Adjusted Effective Duration 10.94
Effective Maturity 23.82
% Portfolio Pre-refunded 7.18%

Call Exposure*

As of 09/30/2016

Percentages reflect the percentage of the fund’s investment exposure callable in the timeframe relative to the “as of” date shown. The "Next 12 months" figure (if shown) includes investments that are currently callable, as well as callable in the next 12 months.

Securities subject to call may not be called.

Credit Quality*

As of 09/30/2016

Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investor Services, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.

Maturity Breakdown*

As of 09/30/2016

Top 10 Issuers

As of 09/30/2016
Issuer% Portfolio*
Sutter Health: Revenue Bonds
California State: General Obligation Bo
Los Angeles: Department of Water and Po
Golden State Tobac: Tobacco Settlement
California State: Appropriation Lease R
Foothill/Eastern T: Toll Road Revenue
California State: Tobacco Settlement As
Providence Saint Joseph : Revenue Bonds
Westminster Redeve: Commercial Redevel
Palm Desert Redeve: Project Area 1 Tax

Top Sector Allocations

As of 09/30/2016
Sector% Portfolio*
Tax Obligation/Limited
Health Care
US Guaranteed
Tax Obligation/General
Water and Sewer
Consumer Staples
Education and Civic Organizations
Housing/Single Family

Top 5 States and Territories

As of 09/30/2016
State% Portfolio*
Puerto Rico

Holdings may vary and are subject to change without notice.

Exposures and breakdowns are asset-weighted using the current market value of bonds held in the portfolio, as well as the full amount and exposure of bonds held in a tender option bond (TOB) trust, even though the fund owns only the residual inverse floater in its portfolio and managed assets.

This may not be fully consistent with generally accepted accounting principles.

An investment in this fund presents a number of risks and is not suitable for all investors. Investors should carefully review and consider potential risks before investing. For more detailed information on the specific risks associated with this fund, please view the Overview tab.


* Percent allocations, calculations, and averages reflect the Fund's full investment exposure, including the full value of bonds held in tender option bond trusts that have issued residual inverse floating rate securities that the Fund holds.

Totals may not add to 100% due to rounding.

Fund data is updated daily, monthly, and quarterly, depending on the specific data point. Click HERE for the update schedule.

Frequency Data included
Daily all funds: Market price, NAV, premium/discount, annualized distribution rates on market price and NAV
Monthly all funds: Assets, leverage, expenses, total return performance, distribution amounts, earnings & UNII
Monthly certain funds: Municipal bond fund holdings and portfolio information
Monthly certain funds, with 1-month lag: Taxable fund holdings and portfolio information except JCE, NSL, JFR and JRO; and % AMT for municipal bond funds
Quarterly certain funds: JCE, NSL, JFR, and JRO holdings and portfolio information, tax characteristic estimates for distributions from funds paying quarterly distributions
Quarterly all funds: SEC filings (annual shareholder report, semi-annual shareholder report, or 10-Q filing)
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