NAC - Nuveen California Quality Municipal Income Fund
A closed-end fund run by Nuveen. Invests in tax-free municipal bonds. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
Not right now - Saba was in this fund until July 9, 2024 and has since sold down.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
Saba owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.
Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.
What happened, and when
-
May 1, 2026
The fund said it will repay some borrowed money on June 2, 2026.
Original document → -
Feb 12, 2026
The fund said it may sell new shares.
Original document → -
Oct 31, 2025
The fund said it will repay some borrowed money on Dec 1, 2025.
Original document → -
Aug 8, 2025
The fund said it may sell new shares.
Original document → -
Aug 7, 2025
The fund said it may sell new shares.
Original document →
Show all 9 events
-
April 28, 2025
The fund said it will repay some borrowed money on May 28, 2025.
Original document → -
Oct 28, 2024
The fund said it will repay some borrowed money on Nov 27, 2024.
Original document → -
July 9, 2024
Saba sold down below 5% and stopped reporting.
Original document → -
March 14, 2024
Saba now owns 6.1%. It has said it may push for changes.
Original document →
About this fund
- Run by Nuveen Fund Advisors, LLC. Part of the Nuveen fund family. As of Aug 31, 2025, from the fund's yearly report. Original document →
- Size: about $1.9 billion of holdings, as of May 31, 2026. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund borrows about 39% on top of its own money, as of May 31, 2026. Borrowed money makes gains and losses bigger. About 93% of that is money the fund has borrowed by selling preferred shares. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 0.6% a year in management fees; 3.8% a year in total, including interest on borrowed money. Fiscal year ended Aug 31, 2025. As of Aug 31, 2025, from the fund's yearly report. Original document →
- Payouts: last fiscal year (ended Aug 31, 2025) the fund paid $0.88 a share. $0.47 of that was income; $0.41 was your own money back, not income. As of Aug 31, 2025, from the fund's annual report. Original document →
- Value of holdings per share at the last fiscal year end (Aug 31, 2025): $11.06. The shares traded at $11.23, about 1.5% above that.
As of Aug 31, 2025, from the fund's yearly report. Original document →
Over the last two years the gap ranged from 16.8% below to 2.1% above. As of Aug 31, 2025, from the fund's annual report. Original document → - How the holdings did: down 0.9% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +11.5%. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- How the holdings did over the fiscal year (ended Aug 31, 2025): the value of the holdings returned -6.7%. How the share price did: the shares returned +3% over the same year, counting payouts and the change in the market price. As of Aug 31, 2025, from the fund's annual report. Original document →
- First reported to the regulator in 1998.
+10%-4%
June 2024May 2026
What the fund holds
Almost all tax-free municipal bonds (100%). About 100% issued in the U.S.
- Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004 - 6.9%
- Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 - 4.3%
- California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside LP Desalination Project - 4%
- Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes - 3.9%
- Los Angeles Department of Water and Power, California, Power System Revenue Bonds - 4.6%
- California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green - 4.1%
- California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center - 2.5%
- San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second - 2.3%
- Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds - 1.9%
- San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose Second - 1.8%
Show all 23
- Southern California Public Power Authority, Southern Transmission System Renewal Project Revenue Bonds, Series 2023-1A - 1.7%
- San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Second - 1.6%
- California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health - 1.6%
- California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center - 1.6%
- California Infrastructure and Economic Development Bank, Revenue Bonds, UCSF Clinical and Life Sciences Building - 1.5%
- Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 - 1.5%
- Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Subordinate Green - 1.4%
- San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second - 1.3%
- Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge - 1.3%
- Los Angeles County, California, Tax and Revenue Anticipation Notes, Series 2025-26 - 1.3%
- Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien - 1.3%
- Sylvan Union School District, Stanislaus County, California, General Obligation Bonds, Election of 2006 - 1.3%
- CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Center City Anaheim - 1.2%
As of May 31, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| July 9, 2024 | Saba | 5% | Sold down below 5% |
| March 14, 2024 | Saba | 6.1% | Updated notice |
| Date | What | Deadline | Document |
|---|---|---|---|
| May 1, 2026 | Repaying borrowed money | June 2, 2026 | Original document → |
| Feb 12, 2026 | May sell new shares | none | Original document → |
| Oct 31, 2025 | Repaying borrowed money | Dec 1, 2025 | Original document → |
| Aug 8, 2025 | May sell new shares | none | Original document → |
| Aug 7, 2025 | May sell new shares | none | Original document → |
| April 28, 2025 | Repaying borrowed money | May 28, 2025 | Original document → |
| Oct 28, 2024 | Repaying borrowed money | Nov 27, 2024 | Original document → |
- Run by
- Nuveen Fund Advisors, LLC
- Fund family
- Nuveen Funds
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-09161
- Auditor
- PricewaterhouseCoopers LLP
- Fiscal year end
- Aug 31, 2025
- Number of holdings
- 348
- Preferred share classes
- 2
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