Investment Company Act file number 811-6623
Nuveen California Select Tax-Free Income Portfolio
(Exact name of registrant as specified in charter)
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Jessica R. DroegerVice 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: 09/30
Date of reporting period: 12/31/04
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 California Select Tax-Free Income Portfolio (NXC)
December 31, 2004
Principal |
Optional Call |
Market |
||||
---|---|---|---|---|---|---|
Amount (000) |
Description |
Provisions* |
Ratings** |
Value |
||
Consumer Staples - 2.0% |
||||||
|
||||||
$ | 1,885 |
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Revenue Bonds, |
6/12 at 100.00 |
BBB |
$ 1,826,527 |
|
Fresno County Tobacco Funding Corporation, Series 2002, 5.625%, 6/01/23 |
||||||
Education and Civic Organizations - 13.9% |
||||||
|
||||||
1,000 |
California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 1999P, |
12/09 at 101.00 |
AAA |
1,044,460 |
||
5.000%, 12/01/23 |
||||||
750 |
California Educational Facilities Authority, Revenue Bonds, Pepperdine University, Series 2002A, |
8/09 at 100.00 |
A1 |
781,635 |
||
5.500%, 8/01/32 |
||||||
2,600 |
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2002, |
11/11 at 100.00 |
A2 |
2,748,694 |
||
5.250%, 11/01/21 |
||||||
1,000 |
California Educational Facilities Authority, Revenue Bonds, University of San Diego, Series 2002A, |
10/12 at 100.00 |
A2 |
1,053,240 |
||
5.500%, 10/01/32 |
||||||
3,000 |
California Infrastructure Economic Development Bank, Revenue Bonds, J. David Gladstone Institutes, |
10/11 at 101.00 |
A- |
3,217,590 |
||
Series 2001, 5.500%, 10/01/19 |
||||||
2,000 |
California State Public Works Board, Lease Revenue Bonds, University of California System, Series |
10/12 at 100.00 |
AAA |
2,110,880 |
||
2002A, 5.000%, 10/01/22 |
||||||
750 |
California Statewide Community Development Authority, Student Housing Revenue Bonds, EAH - Irvine |
8/12 at 100.00 |
A |
794,738 |
||
East Campus Apartments, LLC Project, Series 2002A, 5.500%, 8/01/22 - ACA Insured |
||||||
1,000 |
Long Beach Bond Financing Authority, California, Lease Revenue Refunding Bonds, Long Beach Aquarium |
11/11 at 101.00 |
AAA |
1,050,670 |
||
of the South Pacific, Series 2001, 5.250%, 11/01/30 - AMBAC Insured |
||||||
Healthcare - 11.6% |
||||||
|
||||||
2,500 |
California Health Facilities Financing Authority, Insured Hospital Revenue Bonds, Scripps Memorial |
4/05 at 100.00 |
AAA |
2,525,225 |
||
Hospital, Series 1992A, 6.400%, 10/01/12 - MBIA Insured |
||||||
2,000 |
California Infrastructure Economic Development Bank, Revenue Bonds, Kaiser Hospital Assistance LLC, |
8/11 at 102.00 |
A |
2,096,960 |
||
Series 2001A, 5.550%, 8/01/31 |
||||||
1,880 |
California Statewide Community Development Authority, Revenue Bonds, Los Angeles Orthopedic |
6/07 at 101.00 |
AAA |
2,021,526 |
||
Hospital Foundation, Series 2000, 5.500%, 6/01/17 - AMBAC Insured |
||||||
1,500 |
California Statewide Community Development Authority, Insured Mortgage Hospital Revenue Bonds, |
11/09 at 102.00 |
A |
1,566,060 |
||
Mission Community Hospital, Series 2001, 5.375%, 11/01/26 |
||||||
1,500 |
California Statewide Community Development Authority, Hospital Revenue Bonds, Monterey Peninsula |
6/13 at 100.00 |
AAA |
1,645,740 |
||
Hospital, Series 2003B, 5.250%, 6/01/18 - FSA Insured |
||||||
790 |
Central California Joint Powers Health Finance Authority, Certificates of Participation, Community |
2/05 at 100.00 |
Baa2 |
775,583 |
||
Hospitals of Central California, Series 1993, 5.000%, 2/01/23 |
||||||
Industrials - 1.4% |
||||||
|
||||||
1,250 |
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic |
No Opt. Call |
BBB+ |
1,315,325 |
||
Services Inc., Series 2002C, 5.250%, 6/01/23 (Alternative Minimum Tax) (Mandatory put 12/01/17) |
||||||
Long-Term Care - 1.7% |
||||||
|
||||||
1,500 |
ABAG Finance Authority for Non-Profit Corporations, California, Insured Senior Living Revenue |
11/12 at 100.00 |
A |
1,569,795 |
||
Bonds, Odd Fellows Home of California, Series 2003A, 5.200%, 11/15/22 |
||||||
Tax Obligation/General - 20.6% |
||||||
|
||||||
500 |
Beverly Hills Unified School District, Los Angeles County, California, General Obligation Bonds, |
8/12 at 100.00 |
AA |
518,985 |
||
Series 2002A, 5.000%, 8/01/26 |
||||||
California, General Obligation Bonds, Series 2003: |
||||||
500 |
5.250%, 11/01/19 - RAAI Insured |
11/13 at 100.00 |
AA |
546,095 |
||
1,450 |
5.250%, 2/01/21 |
8/13 at 100.00 |
A |
1,560,345 |
||
1,000 |
5.250%, 2/01/22 - CIFG Insured |
8/13 at 100.00 |
AAA |
1,085,110 |
||
California, General Obligation Bonds, Series 2004: |
||||||
750 |
5.000%, 2/01/23 |
2/14 at 100.00 |
A |
785,370 |
||
800 |
5.125%, 4/01/25 |
4/14 at 100.00 |
A |
839,600 |
||
2,000 |
Fremont Unified School District, Alameda County, California, General Obligation Bonds, Series |
8/12 at 101.00 |
AAA |
2,135,780 |
||
2002A, 5.000%, 8/01/21 - FGIC Insured |
||||||
Golden West Schools Financing Authority, California, Revenue Bonds, School District General |
||||||
Obligation Refunding Program, Series 1999A: |
||||||
4,650 |
0.000%, 8/01/16 - MBIA Insured |
No Opt. Call |
AAA |
2,791,256 |
||
1,750 |
0.000%, 2/01/17 - MBIA Insured |
No Opt. Call |
AAA |
1,015,508 |
||
2,375 |
0.000%, 8/01/17 - MBIA Insured |
No Opt. Call |
AAA |
1,347,504 |
||
2,345 |
0.000%, 2/01/18 - MBIA Insured |
No Opt. Call |
AAA |
1,285,975 |
||
Mountain View-Los Altos Union High School District, Santa Clara County, California, General |
||||||
Obligation Capital Appreciation Bonds, Series 1995C: |
||||||
1,015 |
0.000%, 5/01/17 - MBIA Insured |
No Opt. Call |
AAA |
583,107 |
||
1,080 |
0.000%, 5/01/18 - MBIA Insured |
No Opt. Call |
AAA |
586,267 |
||
2,000 |
North Orange County Community College District, California, General Obligation Bonds, Series 2002A, |
8/12 at 101.00 |
AAA |
2,126,840 |
||
5.000%, 8/01/22 - MBIA Insured |
||||||
1,500 |
San Diego Unified School District, San Diego County, California, General Obligation Bonds, Series |
7/13 at 101.00 |
AAA |
1,693,875 |
||
2003E, 5.250%, 7/01/24 - FSA Insured |
||||||
Tax Obligation/Limited - 14.7% |
||||||
|
||||||
1,000 |
Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, Series |
10/13 at 100.00 |
AA |
1,066,390 |
||
2003, 5.625%, 10/01/33 - RAAI Insured |
||||||
California, Economic Recovery Revenue Bonds, Series 2004A: |
||||||
1,250 |
5.000%, 7/01/15 |
7/14 at 100.00 |
AA- |
1,380,750 |
||
1,000 |
5.000%, 7/01/16 |
7/11 at 100.00 |
AA- |
1,069,430 |
||
1,000 |
California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, Coalinga |
6/14 at 100.00 |
A- |
1,093,300 |
||
State Hospital, Series 2004A, 5.500%, 6/01/23 |
||||||
3,500 |
California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Calipatria |
No Opt. Call |
AAA |
4,352,775 |
||
State Prison, Series 1991A, 6.500%, 9/01/17 - MBIA Insured |
||||||
1,400 |
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement |
6/13 at 100.00 |
A- |
1,485,554 |
||
Asset-Backed Bonds, Series 2003B, 5.500%, 6/01/33 |
||||||
1,300 |
Orange County, California, Special Tax Bonds, Community Facilities District 03-1 of Ladera Ranch, |
8/12 at 101.00 |
N/R |
1,332,916 |
||
Series 2004A, 5.625%, 8/15/34 |
||||||
605 |
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, |
No Opt. Call |
AAA |
689,065 |
||
5.400%, 11/01/20 - MBIA Insured |
||||||
1,000 |
Santa Clara County Board of Education, California, Certificates of Participation, Series 2002, |
4/12 at 101.00 |
AAA |
1,043,390 |
||
5.000%, 4/01/25 - MBIA Insured |
||||||
Transportation - 11.9% |
||||||
|
||||||
1,150 |
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, |
1/10 at 100.00 |
BBB- |
1,041,796 |
||
5.000%, 1/01/35 |
||||||
5,000 |
Los Angeles Harbors Department, California, Revenue Refunding Bonds, Series 2001B, 5.500%, 8/01/17 |
8/11 at 100.00 |
AAA |
5,483,200 |
||
(Alternative Minimum Tax) - AMBAC Insured |
||||||
3,305 |
Palm Springs Financing Authority, California, Palm Springs Regional Airport Revenue Bonds, Series |
1/05 at 100.00 |
AAA |
3,314,254 |
||
1992, 6.000%, 1/01/12 (Alternative Minimum Tax) - MBIA Insured |
||||||
1,000 |
Port of Oakland, California, Revenue Bonds, Series 2002M, 5.250%, 11/01/20 - FGIC Insured |
11/12 at 100.00 |
AAA |
1,090,390 |
||
Utilities - 9.4% |
||||||
|
||||||
California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A: |
||||||
2,000 |
5.750%, 5/01/17 |
5/12 at 101.00 |
A2 |
2,252,360 |
||
2,000 |
5.125%, 5/01/19 |
5/12 at 101.00 |
A2 |
2,138,260 |
||
200 |
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2003A-2, |
7/13 at 100.00 |
AAA |
213,474 |
||
5.000%, 7/01/21 - MBIA Insured |
||||||
2,550 |
M-S-R Public Power Agency, California, San Juan Project Revenue Bonds, Series 1991E, 6.000%, |
1/05 at 100.00 |
AAA |
2,586,465 |
||
7/01/22 - MBIA Insured |
||||||
1,225 |
Turlock Irrigation District, California, Revenue Refunding Bonds, Series 1992A, 6.250%, 1/01/12 - |
No Opt. Call |
AAA |
1,412,511 |
||
MBIA Insured |
||||||
Water and Sewer - 11.0% |
||||||
|
||||||
2,160 |
California Statewide Community Development Authority, Water and Wastewater Revenue Bonds, Pooled |
10/11 at 101.00 |
AAA |
2,301,890 |
||
Financing Program, Series 2001B, 5.125%, 10/01/22 - FSA Insured |
||||||
3,000 |
Contra Costa Water District, Contra Costa County, California, Water Revenue Bonds, Series 2001G, |
10/06 at 100.00 |
AAA |
3,036,600 |
||
5.000%, 10/01/24 - MBIA Insured |
||||||
2,800 |
Los Angeles, California, Wastewater System Revenue Bonds, Series 1998A, 5.000%, 6/01/23 - FGIC |
6/08 at 101.00 |
AAA |
2,895,256 |
||
Insured |
||||||
825 |
South Feather Water and Power Agency, California, Water Revenue Certificates of Participation, |
4/13 at 100.00 |
BBB |
827,655 |
||
Solar Photovoltaic Project, Series 2003, 5.375%, 4/01/24 |
||||||
1,000 |
Woodbridge Irrigation District, California, Certificates of Participation, Water Systems Project, |
7/13 at 100.00 |
BBB+ |
1,030,010 |
||
Series 2003, 5.625%, 7/01/43 |
||||||
$ | 90,890 |
Total Long-Term Investments (cost $85,425,782) - 98.2% |
90,183,956 |
|||
Other Assets Less Liabilities - 1.8% |
1,622,134 |
|||||
Net Assets - 100% |
$91,806,090 |
|||||
* |
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. |
|||
** |
Ratings: Using the higher of Standard & Poor's or Moody's rating. |
||
N/R |
Investment is not rated. |
||
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 income |
|||
on taxable market discount securities and timing differences in recognizing certain gains and losses on |
|||
security transactions. |
|||
At December 31, 2004, the cost of investments was $85,425,266. |
|||
Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2004, were as |
|||
follows: |
|||
Gross unrealized: |
|||
Appreciation |
$4,855,771 |
||
Depreciation |
(97,081) |
||
Net unrealized appreciation of investments |
$4,758,690 |
||
Item 2. Controls and Procedures.
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: EX-99 CERT Attached hereto.
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 California Select Tax-Free Income Portfolio
By (Signature and Title)* /s/ Jessica R. Droeger--Vice President and Secretary
Date 02/28/05
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--Chief Administrative Officer (principal executive officer)
Date 02/28/05
By (Signature and Title)* /s/ Stephen D. Foy--Vice President and Controller (principal financial officer)
Date 02/28/05
* Print the name and title of each signing officer under his or her signature.