nq2.htm



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-05488
 
Nuveen Municipal Income Fund, Inc.
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice 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:            10/31          
 
Date of reporting period:         1/31/16         
 
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
      
           
   
Nuveen Municipal Income Fund, Inc. (NMI)
      
   
January 31, 2016 (Unaudited)
      
 
 
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 101.7%
      
           
   
MUNICIPAL BONDS – 101.7%
      
           
   
Alabama – 0.5%
      
$      500
  
Jefferson County, Alabama, Limited Obligation School Warrants, Education Tax Revenue Bonds,
4/16 at 100.00
AA
$      504,900
   
Series 2004A, 5.250%, 1/01/23 – AGM Insured
      
   
Arizona – 1.4%
      
600
  
Arizona Health Facilities Authority, Revenue Bonds, Scottsdale Lincoln Hospitals Project,
12/24 at 100.00
A2
683,790
   
Series 2014A, 5.000%, 12/01/39
      
515
  
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc.
No Opt. Call
BBB+
630,906
   
Prepay Contract Obligations, Series 2007, 5.250%, 12/01/28
      
1,115
  
Total Arizona
    
1,314,696
   
California – 17.4%
      
5,530
  
Adelanto School District, San Bernardino County, California, General Obligation Bonds, Series
No Opt. Call
AA–
4,670,524
   
1997A, 0.000%, 9/01/22 – NPFG Insured
      
   
Brea Olinda Unified School District, Orange County, California, General Obligation Bonds,
      
   
Series 1999A:
      
2,000
  
0.000%, 8/01/21 – FGIC Insured
No Opt. Call
Aa2
1,821,039
2,070
  
0.000%, 8/01/22 – FGIC Insured
No Opt. Call
AA–
1,817,273
2,120
  
0.000%, 8/01/23 – FGIC Insured
No Opt. Call
AA–
1,797,717
345
  
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los
12/18 at 100.00
BBB–
349,554
   
Angeles County Securitization Corporation, Series 2006A, 5.250%, 6/01/21
      
250
  
California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2007E,
2/17 at 100.00
A
251,793
   
4.800%, 8/01/37 (Alternative Minimum Tax)
      
375
  
California Statewide Communities Development Authority, Revenue Bonds, American Baptist
10/19 at 100.00
BBB+
418,039
   
Homes of the West, Series 2010, 6.000%, 10/01/29
      
1,000
  
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
4/16 at 100.00
CCC
993,140
   
Health System, Series 2005A, 5.000%, 7/01/39 (4)
      
   
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
      
   
Bonds, Series 2007A-1:
      
540
  
4.500%, 6/01/27
6/17 at 100.00
B+
541,625
1,000
  
5.750%, 6/01/47
6/17 at 100.00
B
961,780
250
  
Madera County, California, Certificates of Participation, Children’s Hospital Central
3/20 at 100.00
AA–
280,520
   
California, Series 2010, 5.375%, 3/15/36
      
300
  
M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series
No Opt. Call
A
444,015
   
2009A, 7.000%, 11/01/34
      
250
  
Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation
6/20 at 100.00
A–
290,023
   
Bonds, Refunding Series 2010, 6.125%, 6/30/37
      
385
  
San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds,
2/21 at 100.00
A–
463,378
   
Mission Bay North Redevelopment Project, Series 2011C, 6.000%, 8/01/24
      
500
  
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue
1/25 at 100.00
BB+
547,065
   
Bonds, Refunding Junior Lien Series 2014B, 5.250%, 1/15/44
      
1,000
  
Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds,
12/21 at 100.00
A+
1,232,440
   
Redevelopment Project, Subordinate Lien Series 2011, 6.000%, 12/01/22
      
17,915
  
Total California
    
16,879,925
   
Colorado – 8.1%
      
   
Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding
      
   
Series 2013A:
      
150
  
5.125%, 12/01/29
12/23 at 100.00
BBB
172,545
250
  
5.375%, 12/01/33
12/23 at 100.00
BBB
289,395
1,000
  
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of
1/20 at 100.00
AA–
1,109,420
   
Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
      
1,000
  
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan
6/16 at 100.00
BBB+
1,008,450
   
Society, Series 2005, 5.000%, 6/01/35
      
750
  
Colorado Springs, Colorado, Utilities System Revenue Bonds, Improvement Series 2013B-1,
11/23 at 100.00
AA
866,498
   
5.000%, 11/15/38
      
1,000
  
Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/32
11/22 at 100.00
A+
1,183,670
110
  
Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue
12/25 at 100.00
BBB
123,922
   
Bonds, Refunding Series 2015A, 5.000%, 12/01/45
      
1,000
  
Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue
12/20 at 100.00
AA (5)
1,232,240
   
Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20) – AGM Insured
      
815
  
Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs
No Opt. Call
A
1,036,916
   
Utilities, Series 2008, 6.125%, 11/15/23
      
270
  
Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series
12/17 at 100.00
AA
284,958
   
2007, 5.250%, 12/01/34 – RAAI Insured
      
500
  
Tallyn’s Reach Metropolitan District 3, Aurora, Colorado, General Obligation Refunding and
12/23 at 100.00
N/R
533,905
   
Improvement Bonds, Limited Tax Convertible to Unlimited Tax, Series 2013, 5.000%, 12/01/33
      
6,845
  
Total Colorado
    
7,841,919
   
Florida – 5.5%
      
850
  
Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter
9/23 at 100.00
BBB–
892,075
   
Academy, Inc. Project, Series 2013A, 5.000%, 9/01/33
      
100
  
Dade County Industrial Development Authority, Florida, Revenue Bonds, Miami Cerebral Palsy
6/16 at 100.00
N/R
100,042
   
Residential Services Inc., Series 1995, 8.000%, 6/01/22
      
500
  
Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern
4/21 at 100.00
Baa1
595,910
   
University, Refunding Series 2011, 6.375%, 4/01/31
      
1,025
  
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B,
10/20 at 100.00
AA
1,159,398
   
5.000%, 10/01/35 – AGM Insured
      
1,000
  
Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A,
10/22 at 100.00
Aa3
1,129,760
   
5.000%, 10/01/42
      
515
  
North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010,
10/20 at 100.00
AA
583,840
   
5.375%, 10/01/40
      
310
  
Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health,
4/22 at 100.00
A
332,838
   
Inc., Series 2012A, 5.000%, 10/01/42
      
525
  
Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006,
4/16 at 100.00
N/R
525,488
   
5.400%, 5/01/37
      
4,825
  
Total Florida
    
5,319,351
   
Georgia – 2.3%
      
455
  
Atlanta Development Authority, Georgia, Revenue Bonds, New Downtown Atlanta Stadium Project,
7/25 at 100.00
Aa3
537,655
   
Senior Lien Series 2015A-1, 5.250%, 7/01/40
      
715
  
Atlanta Urban Residential Finance Authority, Georgia, Multifamily Housing Revenue Bonds,
11/23 at 100.00
BBB+
749,713
   
Trestletree Village Apartments, Series 2013A, 4.000%, 11/01/25
      
500
  
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.250%,
11/19 at 100.00
AA
563,710
   
11/01/34 – AGM Insured
      
355
  
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/22
No Opt. Call
A
412,567
2,025
  
Total Georgia
    
2,263,645
   
Hawaii – 0.3%
      
250
  
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific
7/23 at 100.00
BB+
282,900
   
University, Series 2013A, 6.625%, 7/01/33
      
   
Illinois – 9.5%
      
640
  
Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History,
11/24 at 100.00
A
660,538
   
Series 2002, 4.500%, 11/01/36
      
1,000
  
Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Tender Option Bond
8/18 at 100.00
AA
1,335,440
   
Trust 1098, 18.266%, 8/15/33 – AGC Insured (IF) (6)
      
280
  
Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C,
5/20 at 100.00
AA–
308,423
   
5.125%, 5/15/35
      
80
  
Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A,
7/23 at 100.00
A–
94,266
   
5.500%, 7/01/28
      
450
  
Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group,
5/19 at 100.00
Aaa
529,101
   
Series 2009C, 6.375%, 11/01/29 (Pre-refunded 5/01/19)
      
200
  
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers,
8/25 at 100.00
Baa1
221,338
   
Refunding Series 2015C, 5.000%, 8/15/44
      
500
  
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series
8/19 at 100.00
N/R (5)
606,655
   
2009, 7.000%, 8/15/44 (Pre-refunded 8/15/19)
      
250
  
Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc.,
3/20 at 100.00
AA
280,175
   
Series 2005 Remarketed, 5.250%, 3/01/30 – AGM Insured
      
990
  
Illinois State, General Obligation Bonds, Series 2013, 5.250%, 7/01/31
7/23 at 100.00
A–
1,080,714
220
  
Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel
4/16 at 100.00
D
72,378
   
Revenue Bonds, Series 2005B, 5.250%, 1/01/36 (7)
      
1,555
  
Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds,
6/22 at 100.00
BBB+
1,632,719
   
Refunding Series 2012B, 5.000%, 6/15/52
      
450
  
Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana
10/22 at 100.00
Baa1
499,370
   
College, Series 2012, 5.000%, 10/01/27
      
800
  
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series
6/21 at 100.00
A–
963,728
   
2010, 6.000%, 6/01/28
      
315
  
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/40 –
3/25 at 100.00
AA
357,276
   
AGM Insured
      
490
  
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013,
10/23 at 100.00
A
581,008
   
6.000%, 10/01/32
      
8,220
  
Total Illinois
    
9,223,129
   
Indiana – 2.0%
      
525
  
Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For
10/19 at 100.00
B–
514,243
   
Educational Excellence, Inc., Series 2009A, 7.000%, 10/01/39
      
655
  
Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing
7/23 at 100.00
BBB+
710,688
   
Project, Series 2013A, 5.000%, 7/01/44 (Alternative Minimum Tax)
      
100
  
Indiana Finance Authority, Tax-Exempt Private Activity Revenue Bonds, I-69 Section 5 Project,
9/24 at 100.00
BBB
113,120
   
Series 2014, 5.250%, 9/01/34 (Alternative Minimum Tax)
      
500
  
Vigo County Hospital Authority, Indiana, Hospital Revenue Bonds, Union Hospital, Inc., Series
9/21 at 100.00
N/R
600,915
   
2011, 8.000%, 9/01/41
      
1,780
  
Total Indiana
    
1,938,966
   
Iowa – 0.9%
      
835
  
Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, University of
10/21 at 100.00
BBB–
905,841
   
Dubuque Project, Refunding Series 2011, 5.625%, 10/01/26
      
   
Kansas – 0.4%
      
375
  
Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park
1/17 at 100.00
BB+
378,551
   
Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured
      
   
Kentucky – 2.3%
      
500
  
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro
6/20 at 100.00
BBB+
578,720
   
Medical Health System, Series 2010A, 6.500%, 3/01/45
      
1,500
  
Louisville-Jefferson County Metropolitan Government, Kentucky, Health Facilities Revenue
2/18 at 100.00
Aaa
1,662,195
   
Bonds, Jewish Hospital & Saint Mary’s HealthCare Inc. Project, Series 2008, 6.125%, 2/01/37
      
   
(Pre-refunded 2/01/18)
      
2,000
  
Total Kentucky
    
2,240,915
   
Louisiana – 0.6%
      
500
  
Louisiana Local Government Environmental Facilities and Community Development Authority,
1/19 at 100.00
AA (5)
565,980
   
Revenue Refunding Bonds, City of Shreveport Airport System Project, Series 2008A, 5.750%,
      
   
1/01/28 (Pre-refunded 1/01/19) – AGM Insured
      
   
Maryland – 2.0%
      
1,000
  
Maryland Economic Development Corporation, Economic Development Revenue Bonds,
6/20 at 100.00
Baa3
1,097,690
   
Transportation Facilities Project, Series 2010A, 5.750%, 6/01/35
      
210
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park
7/20 at 100.00
BBB–
222,474
   
Public Charter School Issue, Series 2010, 6.000%, 7/01/40
      
500
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional
7/24 at 100.00
A
566,960
   
Medical Center Issue, Series 2015, 5.000%, 7/01/45
      
1,710
  
Total Maryland
    
1,887,124
   
Massachusetts – 0.6%
      
500
  
Massachusetts Development Finance Agency Revenue Bonds, UMass Memorial Healthcare,
7/26 at 100.00
A–
567,540
   
Refunding Series 2016I, 5.000%, 7/01/46 (WI/DD, Settling 2/02/16)
      
   
Michigan – 1.6%
      
355
  
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,
7/22 at 100.00
A–
395,193
   
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
      
1,025
  
Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series
10/21 at 100.00
Aa2
1,165,681
   
2011-II-A, 5.375%, 10/15/36
      
1,380
  
Total Michigan
    
1,560,874
   
Minnesota – 0.3%
      
300
  
City of Minneapolis, Minnesota, Senior Housing and Healthcare Facilities Revenue Bonds, Walker
11/22 at 100.00
N/R
304,791
   
Minneapolis Campus Project, Series 2015, 4.625%, 11/15/31
      
   
Mississippi – 0.4%
      
360
  
Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System
4/16 at 100.00
BBB
363,564
   
Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22
      
   
Missouri – 8.8%
      
265
  
Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri,
10/19 at 100.00
A–
296,334
   
Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36
      
4,450
  
Missouri Environmental Improvement and Energy Resources Authority, Water Facility Revenue
12/16 at 100.00
AA+
4,517,284
   
Bonds, Missouri-American Water Company, Series 2006, 4.600%, 12/01/36 – BHAC Insured
      
   
(Alternative Minimum Tax) (UB) (6)
      
135
  
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds,
5/23 at 100.00
BBB+
151,393
   
Saint Louis College of Pharmacy, Series 2013, 5.250%, 5/01/33
      
1,000
  
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds,
10/22 at 100.00
BBB–
1,078,640
   
Southwest Baptist University Project, Series 2012, 5.000%, 10/01/33
      
200
  
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds,
10/23 at 100.00
A
231,376
   
University of Central Missouri, Series 2013C2, 5.000%, 10/01/34
      
965
  
Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health
2/22 at 100.00
BBB+
1,084,863
   
System, Series 2012, Reg S, 5.000%, 2/15/26
      
500
  
Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University,
10/18 at 103.00
BBB–
560,095
   
Series 1999, 6.000%, 10/01/25
      
500
  
Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University,
10/18 at 103.00
BBB–
558,315
   
Series 2011A, 5.250%, 10/01/20
      
8,015
  
Total Missouri
    
8,478,300
   
Nebraska – 0.5%
      
400
  
Nebraska Educational Finance Authority, Revenue Bonds, Clarkson College Project, Refunding
5/21 at 100.00
Aa3
454,676
   
Series 2011, 5.050%, 9/01/30
      
   
New Jersey – 1.5%
      
100
  
Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue
No Opt. Call
BBB–
113,841
   
Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (Alternative Minimum Tax)
      
110
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital
7/25 at 100.00
AA
124,037
   
Issue, Refunding Series 2015A, 5.000%, 7/01/46 – AGM Insured
      
545
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA,
6/25 at 100.00
A–
575,455
   
5.000%, 6/15/45
      
   
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
      
   
Series 2007-1A:
      
200
  
4.625%, 6/01/26
6/17 at 100.00
B+
200,532
500
  
4.750%, 6/01/34
6/17 at 100.00
B–
419,885
1,455
  
Total New Jersey
    
1,433,750
   
New York – 3.8%
      
630
  
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue
1/20 at 100.00
BBB–
731,084
   
Bonds, Barclays Center Project, Series 2009, 6.250%, 7/15/40
      
60
  
Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds,
7/25 at 100.00
BBB+
70,175
   
Catholic Health System, Inc. Project, Series 2015, 5.250%, 7/01/35
      
400
  
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series
2/21 at 100.00
A
466,120
   
2011A, 5.750%, 2/15/47
      
500
  
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
11/24 at 100.00
N/R
532,915
   
Center Project, Class 1 Series 2014, 5.000%, 11/15/44
      
265
  
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
12/20 at 100.00
BBB
309,621
   
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
      
1,525
  
Yates County Industrial Development Agency, New York, FHA-Insured Civic Facility Mortgage
2/16 at 100.00
N/R
1,562,820
   
Revenue Bonds, Soldiers and Sailors Memorial Hospital, Series 2000A, 6.000%, 2/01/41
      
3,380
  
Total New York
    
3,672,735
   
North Dakota – 0.6%
      
200
  
Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center
7/21 at 100.00
N/R (5)
240,070
   
Project, Series 2014A, 5.000%, 7/01/35 (Pre-refunded 7/01/21)
      
300
  
Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011,
11/21 at 100.00
A+
367,881
   
6.250%, 11/01/31
      
500
  
Total North Dakota
    
607,951
   
Ohio – 4.9%
      
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
      
   
Bonds, Senior Lien, Series 2007A-2:
      
300
  
5.375%, 6/01/24
6/17 at 100.00
B–
279,237
1,020
  
5.125%, 6/01/24
6/17 at 100.00
B–
935,024
1,000
  
Erie County, Ohio, Hospital Facilities Revenue Bonds, Firelands Regional Medical Center
8/16 at 100.00
A–
1,014,110
   
Project, Series 2006, 5.250%, 8/15/46
      
1,750
  
Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center
8/21 at 100.00
A2
1,933,032
   
Project, Refunding Series 2011, 5.250%, 8/01/36
      
500
  
Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard,
4/20 at 100.00
BBB–
557,480
   
Refunding & improvement Series 2010, 6.375%, 4/01/30
      
4,570
  
Total Ohio
    
4,718,883
   
Oregon – 1.4%
      
300
  
Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Refunding
5/22 at 100.00
BBB
326,298
   
Series 2014A, 5.000%, 5/01/40
      
850
  
Portland, Oregon, River District Urban Renewal and Redevelopment Bonds, Series 2012C,
6/22 at 100.00
A1
992,086
   
5.000%, 6/15/29
      
1,150
  
Total Oregon
    
1,318,384
   
Pennsylvania – 3.4%
      
1,000
  
Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Reading Hospital and Medical
5/22 at 100.00
AA–
1,107,840
   
Center Project, Series 2012A, 5.000%, 11/01/40
      
45
  
Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social
1/19 at 100.00
BBB+
50,942
   
Ministries Project, Series 2009, 6.125%, 1/01/29
      
415
  
Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social
1/19 at 100.00
N/R (5)
476,810
   
Ministries Project, Series 2009, 6.125%, 1/01/29 (Pre-refunded 1/01/19)
      
560
  
Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds,
1/25 at 100.00
Baa2
623,196
   
Albert Einstein Healthcare Network Issue, Series 2015A, 5.250%, 1/15/36
      
1,000
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Foundation for Student
7/22 at 100.00
BBB+
1,073,680
   
Housing at Indiana University, Project Series 2012A, 5.000%, 7/01/41
      
3,020
  
Total Pennsylvania
    
3,332,468
   
South Carolina – 0.6%
      
475
  
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Refunding Series
No Opt. Call
A3 (5)
555,636
   
1991, 6.750%, 1/01/19 – FGIC Insured (ETM)
      
   
Tennessee – 2.5%
      
1,250
  
Chattanooga Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds,
1/23 at 100.00
A+
1,408,363
   
Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45
      
1,000
  
Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds,
9/16 at 100.00
BBB+
1,021,740
   
Wellmont Health System, Series 2006C, 5.250%, 9/01/36
      
2,250
  
Total Tennessee
    
2,430,103
   
Texas – 10.5%
      
670
  
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A,
7/25 at 100.00
BBB+
758,098
   
5.000%, 1/01/40
      
335
  
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
10/23 at 100.00
BBB+
370,316
   
2013A, 5.125%, 10/01/43
      
500
  
Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission
5/25 at 100.00
A+
570,115
   
Services Corporation Project, Refunding Series 2015, 5.000%, 5/15/40
      
   
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Tender Option Bond
      
   
Trust 1015:
      
150
  
20.574%, 1/01/38 (Pre-refunded 1/01/18) (IF) (6)
1/18 at 100.00
A2 (5)
230,021
850
  
20.466%, 1/01/38 (Pre-refunded 1/01/18) (IF) (6)
1/18 at 100.00
A2 (5)
1,280,789
200
  
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A,
9/31 at 100.00
AA+
191,870
   
0.000%, 9/01/43
      
410
  
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B,
1/23 at 100.00
A1
466,117
   
5.000%, 1/01/40
      
500
  
North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A,
1/25 at 100.00
A2
573,125
   
5.000%, 1/01/38
      
240
  
Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A,
2/24 at 100.00
Baa2
261,535
   
5.000%, 2/01/34
      
295
  
SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds, Series
No Opt. Call
A
373,550
   
2007, 5.500%, 8/01/27
      
   
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds,
      
   
Series 2012:
      
1,165
  
5.000%, 12/15/27
No Opt. Call
A3
1,348,755
505
  
5.000%, 12/15/28
No Opt. Call
A3
580,523
405
  
Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility
12/19 at 100.00
Baa2
477,807
   
Partners LLC North Tarrant Express Managed Lanes Project, Senior Lien Series 2009,
      
   
6.875%, 12/31/39
      
770
  
Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ
6/20 at 100.00
Baa3
931,400
   
Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010, 7.000%, 6/30/40
      
500
  
Texas Public Finance Authority, Charter School Finance Corporation Revenue Bonds, Idea Public
8/17 at 100.00
BBB (5)
533,850
   
School Project, Series 2007A, 5.000%, 8/15/37 (Pre-refunded 8/15/17) – ACA Insured
      
1,000
  
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier
8/24 at 100.00
BBB+
1,152,190
   
Refunding Series 2015C, 5.000%, 8/15/32
      
45
  
West Texas Independent School District, McLennan and Hill Counties, General Obligation
4/16 at 60.06
AAA
26,804
   
Refunding Bonds, Series 1998, 0.000%, 8/15/25
      
8,540
  
Total Texas
    
10,126,865
   
Virgin Islands – 0.5%
      
420
  
Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project,
10/19 at 100.00
Baa3
474,218
   
Series 2009A, 6.750%, 10/01/37
      
   
Virginia – 0.3%
      
250
  
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
7/22 at 100.00
BBB–
289,710
   
Crossing, Opco LLC Project, Series 2012, 6.000%, 1/01/37 (Alternative Minimum Tax)
      
   
Washington – 0.5%
      
500
  
Washington State Health Care Facilities Authority, Revenue Bonds, Northwest Hospital and
12/17 at 100.00
N/R (5)
514,625
   
Medical Center of Seattle, Series 2007, 5.700%, 12/01/32 (Pre-refunded 12/04/17)
      
   
Wisconsin – 5.8%
      
290
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System,
4/20 at 100.00
A–
310,399
   
Inc., Series 2010B, 5.000%, 4/01/30
      
955
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran,
10/21 at 100.00
A+
1,086,303
   
Series 2011A, 5.250%, 10/15/39
      
1,000
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marquette University,
10/22 at 100.00
A2
1,067,520
   
Series 2012, 4.000%, 10/01/32
      
1,000
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc.,
5/21 at 100.00
N/R (5)
1,224,370
   
Series 2011A, 5.500%, 5/01/31 (Pre-refunded 5/01/21)
      
1,000
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc.
8/24 at 100.00
A+
1,127,650
   
Obligated Group, Refunding Series 2015, 5.000%, 8/15/39
      
500
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial
7/24 at 100.00
BBB+
549,880
   
Hospital, Inc., Series 2014B, 5.000%, 7/01/44
      
200
  
Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson
10/22 at 102.00
N/R
206,956
   
Hollow Project. Series 2014, 5.125%, 10/01/34
      
4,945
  
Total Wisconsin
    
5,573,078
$ 91,305
  
Total Long-Term Investments (cost $87,198,547)
    
98,325,993
   
Floating Rate Obligations – (3.5)%
    
(3,335,000)
   
Other Assets Less Liabilities – 1.8%
    
1,669,809
   
Net Assets – 100%
    
$   96,660,802
 
 
 
 

 
Fair Value Measurements
 
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 - Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 - Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 - Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund's fair value measurements as of the end of the reporting period:
         
 
Level 1
Level 2
Level 3
Total
Long-Term Investments:
        
   Municipal Bonds
$ —
$98,325,993
$ —
$98,325,993
 
 
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of January 31, 2016, the cost of investments was $83,651,971.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of January 31, 2016, were as follows:
   
Gross unrealized:
  
  Appreciation
$11,612,220
  Depreciation
(273,069)
Net unrealized appreciation (depreciation) of investments
$11,339,151
 
     
(1)
  
All percentages shown in the Portfolio of Investments are based on net assets.
(2)
  
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. Certain mortgage-backed securities
   
may be subject to periodic principal paydowns.
(3)
  
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc.
   
(“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any
   
of these national rating agencies.
(4)
  
As of, or subsequent to, the end of the reporting period this security is non-income producing. Non-income
   
producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the
   
payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (4) the Fund’s
   
Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has
   
ceased accruing additional income on the Fund’s records.
(5)
  
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
   
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
   
agency securities are regarded as having an implied rating equal to the rating of such securities.
(6)
  
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(7)
  
On May 7, 2015, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire
   
obligation on this security, and therefore reduced the security’s interest rate of accrual from 5.250% to 2.100%.
(ETM)
  
Escrowed to maturity.
(IF)
  
Inverse floating rate investment.
(UB)
  
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
(WI/DD)
  
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
Reg S
  
Regulation S allows U.S. companies to sell securities to persons or entities located outside of the
   
United States without registering those securities with the Securities and Exchange Commission.
   
Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act
   
for the offers and sales of securities by both foreign and domestic issuers that are made outside the
   
United States.
 
 
 
 
 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
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: See EX-99 CERT attached hereto.

 
 
 
 
 
SIGNATURES

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 Municipal Income Fund, Inc. 
 
By (Signature and Title) /s/ Kevin J. McCarthy                    
       Kevin J. McCarthy
     Vice President and Secretary
                                         
Date:         March 31, 2016        
 
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            
       Gifford R. Zimmerman
     Chief Administrative Officer (principal executive officer)
                        
Date:         March 31, 2016        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         March 31, 2016