NXC Research | Milton Maxwell

NXC

Nuveen California Select Tax-Free Income Portfolio

13.09

-0.02-0.15%

Dec 16, 3:59:54 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

84.48M

P/E (TTM)

Basic EPS (TTM)

-0.39

Dividend Yield

0.04%

Recent Filings

8-K

By-laws drop control share rules

3/6/24Mar 6, 2024

Nuveen California Select Tax-Free Income Portfolio's board eliminated the suspended 'control share' provisions from its by-laws on February 28, 2024, effective immediately. Previously suspended since February 24, 2022, these rules had limited shareholder voting power on large stakes. The change streamlines governance without altering other terms. No impact on operations disclosed.

8-K

Board consolidation announced

10/13/23Oct 13, 2023

Nuveen California Select Tax-Free Income Portfolio announced board consolidation across its fund complex on October 13, 2023, effective January 1, 2024, appointing four independent trustees from TIAA-CREF funds—Joseph A. Boateng, Michael A. Forrester, Thomas J. Kenny, and Loren M. Starr—while two current members retire by year-end. This move targets cost efficiencies, vendor leverage, and unified marketing to boost shareholder value. Board size shrinks to twelve. Yet efficiencies promise real savings.

8-K

By-laws suspend control share

2/25/22Feb 25, 2022

On February 24, 2022, the Board of Trustees of Nuveen California Select Tax-Free Income Portfolio and other Nuveen closed-end funds amended their by-laws to suspend the control share provision, following a U.S. District Court ruling on February 18 that deemed it violative of the 1940 Act. The provision, adopted in 2020 to shield against opportunistic hedge fund takeovers, now holds no effect pending appeal, which the Board plans to pursue vigorously. This shields long-term shareholders from short-term disruptions. Appeal underway.

8-K

By-Laws tighten shareholder notices

10/6/20Oct 6, 2020

On October 5, 2020, Nuveen California Select Tax-Free Income Portfolio's Board adopted amended and restated By-Laws, tightening advance notice deadlines for 2021 shareholder proposals and nominations—such as March 2 for Rule 14a-8 submissions. These changes, part of a broader update across multiple Nuveen closed-end funds, aim to shield long-term shareholders from short-term opportunistic influences. A new Control Share provision curbs voting rights for acquisitions hitting 10% or more of voting power unless approved by others. Boards guard the fund's direction.

About

Nuveen California Select Tax-Free Income Portfolio is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California. The fund invests in the securities of companies that operate across diversified sectors. It primarily invests in municipal bonds. The fund employs fundamental analysis to create its portfolio. It benchmarks the performance of its portfolio against Barclays Capital California Municipal Bond Index and S&P California Municipal Bond Index. Nuveen California Select Tax-Free Income Portfolio was formed on June 19, 1992 and is domiciled in the United States.

IPO

6/19/1992

Website

https://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NXC&refsrc=vu_nuveen.com/nxc

Sector

Financial Services

Industry

Asset Management