Nuveen Virginia Municipal Bond Fund
Data updated: 2026-09-28
C000001500 — Nuveen Virginia Municipal Bond Fund. Long Municipal - National Bond · $572.40M AUM. Holdings, fees, performance and SEC filings.
C000001500 Fund Overview
Nuveen Virginia Municipal Bond Fund is a US mutual fund managed by Nuveen Multistate Trust I, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Nuveen Multistate Trust I
- Category: Long Municipal - National Bond
- Assets under management: $572.40M
- 1-year return: 5.0%
- SEC CIK: 0001018972
- SEC series ID: S000000551
- Share class ID: C000001500
C000001500 Investment Objective and Strategy
Nuveen Virginia Municipal Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Nuveen Multistate Trust I.
Investment objective
The investment objective of the Fund is to provide you with as high a level of current interest income exempt from regular federal, Virginia state and, in some cases, Virginia local income taxes as is consistent with preservation of capital.
Principal investment strategy
Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and Virginia personal income tax. These municipal bonds include obligations issued by the State of Virginia and its subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) that pay interest that is exempt from regular federal and Virginia personal income tax. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax. The Fund will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity in excess of 10 years.
Under normal market conditions, the Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase by at least one independent rating agency or, if unrated, judged by the Funds sub-adviser to be of comparable quality. The Fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as high yield or junk bonds. The Fund may invest in all types of municipal bonds, including general obligation bonds, revenue bonds and participation interests in municipal leases. The Fund may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature. The Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (inverse floaters).
Inverse floaters are derivative securities that provide leveraged exposure to underlying municipal bonds. The Funds investments in inverse floaters are designed to increase the Funds income and returns through this leveraged exposure. These investments are speculative, however, and also create the possibility that income and returns will be diminished. The Fund may utilize the following derivatives: futures contracts, swap contracts, options on futures contracts and options on swap contracts. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Funds portfolio. The Funds sub-adviser uses a value-oriented strategy and looks for higher-yielding and undervalued long-term municipal bonds that offer above-average total return.
The sub-adviser may choose to sell municipal bonds with deteriorating credit or limited upside potential compared to other available bonds.
C000001500 Holdings
Top 10 holdings of Nuveen Virginia Municipal Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 1.87% |
| The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Refunding Series 2017A | 1.84% |
| Washington Metropolitan Area Transit Authority, Second Lien Dedicated Revenue Bonds, Sustainability- Climate Transition, Series 2024A | 1.56% |
| Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior L | 1.53% |
| Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Bon Secours Mercy Health, Inc., Series 2020A | 1.30% |
| Industrial Development Authority of the City of Newport News, Virginia, Health System Revenue Bonds, Riverside Health System, Series 2017A | 1.30% |
| Virginia Commonwealth University Health System Authority, General Revenue Bonds, Series 2017B | 1.14% |
| Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2024 | 1.09% |
| Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds, First Tier Series 2016 | 1.02% |
| Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017 | 1.01% |
C000001500 Portfolio Allocation
Asset-class allocation of Nuveen Virginia Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.3% |
C000001500 Performance
Total returns for C000001500 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 5.0% |
C000001500 Risk Information
Risk metrics for C000001500, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.4%
C000001500 Costs and Fees
C000001500 costs about $133 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.33%
- Gross expense ratio: 1.33%
- Portfolio turnover: 10%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000001500 Cashflows
Over the 12 months to 2026-05, Nuveen Virginia Municipal Bond Fund had net inflows of $37.77M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$2.85M |
| 2026-04 | $4.85M |
| 2026-03 | $2.66M |
| 2026-02 | $7.36M |
| 2026-01 | $8.00M |
| 2025-12 | $3.75M |
C000001500 Debt Constituents
Largest debt holdings of Nuveen Virginia Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 1.87% |
| The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Refunding Series 2017A | 1.84% |
| Washington Metropolitan Area Transit Authority, Second Lien Dedicated Revenue Bonds, Sustainability- Climate Transition, Series 2024A | 1.56% |
| Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior L | 1.53% |
| Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Bon Secours Mercy Health, Inc., Series 2020A | 1.30% |
| Industrial Development Authority of the City of Newport News, Virginia, Health System Revenue Bonds, Riverside Health System, Series 2017A | 1.30% |
| Virginia Commonwealth University Health System Authority, General Revenue Bonds, Series 2017B | 1.14% |
| Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2024 | 1.09% |
| Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds, First Tier Series 2016 | 1.02% |
| Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017 | 1.01% |
C000001500 Prospectus and SEC Filings
Official Nuveen Virginia Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-09-28
- Prospectus (485BPOS) — filed 2025-09-26
- Prospectus (485BPOS) — filed 2024-09-27
- Portfolio holdings (N-PORT) — filed 2026-07-24
- Portfolio holdings (N-PORT) — filed 2026-04-27
- Portfolio holdings (N-PORT) — filed 2026-01-28
- Annual census (N-CEN) — filed 2026-08-13
- Annual census (N-CEN) — filed 2025-08-13
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.