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Nuveen Closed-End Funds (NYSE:NXC) announced an approved reorganization combining Nuveen California Select Tax-Free Income Portfolio (NXC) and Nuveen New York Select Tax-Free Income Portfolio (NXN) into Nuveen Select Tax-Free Income Portfolio (NXP).
Pre-reorganization distributions were declared December 30, 2025 with a record date of January 9, 2026 and payable February 2, 2026; however, because NXC and NXN do not estimate accumulated undistributed net investment income (UNII), they will not make pre-reorganization distributions. NXP is expected to declare its regular monthly distribution on January 2, 2026 (record January 15, 2026, payable February 2, 2026) and may add a post-reorganization distribution with record date January 22, 2026 payable February 2, 2026. The total per-share tax-exempt distributions paid on February 2, 2026 will be equal to or greater than the prior month’s per-share tax-exempt distribution.
Nuveen manages $53 billion across 44 closed-end funds as of September 30, 2025.
Nuveen (NYSE: NXC) announced that shareholders approved a reorganization to combine NXC and NXN into the surviving fund NXP. The transactions are expected to become effective before market open on January 12, 2026, subject to customary closing conditions.
Monthly distributions will be replaced by a pre-reorganization distribution declared December 30, 2025 (record date January 9, 2026, payable February 2, 2026). The surviving fund may declare a post-reorganization distribution with record date January 22, 2026 and payable February 2, 2026. Total per-share pre- and, if made, post-reorganization tax-exempt distributions payable February 2, 2026 are expected to be equal to or greater than each fund’s prior month’s tax-exempt distribution.
Nuveen reported $53 billion in CEF assets under management across 44 closed-end funds as of September 30, 2025.
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