Nuveen Select Tax-Free Income Portfolio

NXP

Market cap $910M

Nuveen Select Tax-Free Income Portfolio completed its merger with California and New York single-state funds, increasing AUM to $900MM. NXP maintains a 4.5% yield post-merger, with effective duration slightly reduced to 8.6 years and increased CA & NY exposure to 25.7%. Fees are unchanged at 23 bps, and NXP now holds a modest allocation to B and CCC-rated bonds, slightly increasing credit risk.

EINDHOVEN, The Netherlands, June 24, 2026 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that Jeff Palmer, Senior Vice President of Investor Relations, has decided to retire following a distinguished 16-year career with the company. Following Jeff's retirement, Mike Lucarelli will serve as Senior Vice President of Investor Relations. Mike will report to Bill Betz, Chief Financial Officer, serving as a key liaison to the investment community.

EINDHOVEN, The Netherlands, June 11, 2026 (GLOBE NEWSWIRE) -- As part of its ongoing capital return program, NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that its board of directors has approved the payment of an interim dividend.

Municipal bond closed-end funds (CEFs) are seeing narrowing discounts, with NXP and MHF offering the most compelling value in the space at present. Leverage costs are easing as the Fed cuts rates, which should improve distribution coverage and make leveraged muni CEFs more attractive. Of course, there are always risks that include increased volatility from leverage and sensitivity to long-term Treasury rates, but we've seen long-term rate stabilization within a fairly narrow range.

CHICAGO--(BUSINESS WIRE)--The reorganizations of Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC) and Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN) into Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) were successfully completed prior to the opening of the New York Stock Exchange on January 12, 2026. Through the reorganizations, NXP acquired substantially all of the assets and liabilities of NXC and NXN in a tax-free transaction in exchange for newly-issued comm.

CHICAGO--(BUSINESS WIRE)--As previously announced, shareholders of the Nuveen Select Tax-Free Income Portfolio (NYSE: NXP), Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC), and Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN) have approved the funds' reorganization. The reorganization will combine NXC and NXN into NXP. The funds previously announced that the monthly distributions typically declared the first business day of the month for NXP, NXC, and NXN would be rep.

Nuveen Select Tax-Free Income Portfolio faces a proposed merger with Nuveen California Select Tax-Free Income Portfolio and Nuveen New York Select Tax-Free Income Fund, which I oppose due to yield and tax implications. NXC and NXN yield less than NXP, potentially diluting NXP's yield post-merger and introducing state tax liabilities for single-state holders. NXP's larger size and national exposure offer diversification, but merging may lower future payments due to lower WA coupons in NXC and NXN.

CHICAGO--(BUSINESS WIRE)--Shareholders of the Nuveen Select Tax-Free Income Portfolio (NYSE: NXP), Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC), and Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN) have approved the funds' reorganization. The reorganization will combine NXC and NXN into NXP. Subject to the satisfaction of certain customary closing conditions, the transactions are expected to become effective before the market opens on January 12, 2026. The monthly.

This report screens ~400 closed-end funds (CEFs) for those with 100%+ net investment income coverage, highlighting lower risk of distribution cuts. Top lists identify CEFs with the widest discounts, most attractive z-scores, highest covered yields, and best combinations of value and income. Investors are encouraged to use these rankings as a starting point for due diligence, not as final buy or sell recommendations.

I voted against the NXC and NXN merger into Nuveen Select Tax-Free Income Portfolio, as it would overweight NXP with bonds from states facing population decline and high taxes. NXP offers lower fees, higher yields, better credit quality, and stronger historical returns compared to the single-state funds NXC and NXN. State fund holders would benefit from the merger, but must consider that distributions will become subject to steep state income taxes.