Nuveen Taxable Municipal Income Fund

Closed-End Funds

March 31, 2024

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM

N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES


Investment Company Act file number		811-22391

Nuveen Taxable Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

(Address of principal executive offices) (Zip code)

Mark L. Winget

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

(Name and address of agent for service)


Registrant’s telephone number, including area code:		(312) 917-7700


Date of fiscal year end:		March 31


Date of reporting period:		March 31, 2024

Form

N-CSR

is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule

30e-1

under the Investment Company Act of 1940 (17 CFR

270.30e-1).

The Commission may use the information provided on Form

N-CSR

in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form

N-CSR,

and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form

N-CSR

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 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. ss. 3507.

October 22, 2024

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

RE:	Nuveen Taxable Municipal Income Fund (NBB)

Investment Company Act File Number

811-22391

Accession Number 0001193125-24-154261

Ladies and Gentlemen:

We are filing an amendment to Form N-CSR for Nuveen Taxable Municipal Income Fund, originally filed on June 6, 2024:

We have amended the original filing because the Report of Independent Registered Public Accounting Firm was incorrectly labeled as “Unaudited”. That designation has been removed in the amended filing. No other amendments to the original filing have been made.

Sincerely,

Nuveen Taxable Municipal Income Fund (NBB)

/s/ Mark L. Winget

Mark L. Winget

Vice President and Secretary

312-917-7883

ITEM 1.

REPORTS TO STOCKHOLDERS.

Nuveen Municipal

Closed-End

Funds



Nuveen Taxable Municipal Income Fund		NBB

Annual

Report

Table

of Contents


Important Notices			3

Portfolio Managers’ Comments			4

Fund Leverage			6

Common Share Information			7

About the Fund’s Benchmark			9

Performance Overview and Holding Summaries			10

Report of Independent Registered Public Accounting Firm			13

Portfolio of Investments			14

Statement of Assets and Liabilities			24

Statement of Operations			25

Statement of Changes in Net Assets			26

Statement of Cash Flows			27

Financial Highlights			28

Notes to Financial Statements			30

Shareholder Update			41

Important Tax Information			59

Additional Fund Information			60

Glossary of Terms Used in this Report			61

Board Members & Officers			63

Important Notices

Portfolio Manager Update

Effective April 10, 2023, Kristen DeJong was added as a portfolio manager to the Fund . Effective May 31, 2023, John Miller no longer serves as a portfolio manager of the Fund. There were no other changes to the portfolio management of the Fund during the reporting period.

Management Fees

As of May 1, 2024, the Fund’s overall complex-level fee begins at a maximum rate of 0.1600% of each Fund’s average daily managed assets, with breakpoints for eligible complex-level assets above $124.3 billion. Therefore, the maximum management fee rate for the Fund is the fund-level fee listed within this report plus 0.1600%.

Refer to the Notes to Financial Statements within this report for further details on the Fund’s management fees.

Portfolio Managers’

Comments

Nuveen Taxable Municipal Income Fund (NBB)

The Fund features portfolio management by Nuveen Asset Management, LLC (NAM), an affiliate of Nuveen Fund Advisors, LLC, the Fund’s investment adviser. The portfolio managers for the Nuveen Taxable Municipal Income Fund (NBB) are Daniel Close, CFA, and Kristen DeJong, CFA.

Portfolio Manager Updates

Effective April 10, 2023, Kristen DeJong was added as a portfolio manager of NBB. Effective May 31, 2023, John Miller no longer serves as a portfolio manager of the Fund. Daniel Close continues to serve as a portfolio manager of the Fund.

Here the Fund’s portfolio managers review U.S. economic and market conditions, key investment strategies and the performance of the Funds for the twelve-month reporting period ended March 31, 2024. For more information on the Fund’s investment objectives and policies, please refer to the Shareholder Update section at the end of the report.

What factors affected the U.S. economy and market conditions during the twelve-month reporting period ended March 31, 2024?

The U.S. economy was relatively resilient amid persistent inflationary pressure and elevated interest rates during the twelve-month period ended March 31, 2024. Gross domestic product rose at an annualized rate of 1.6% in the first quarter of 2024, slowing from 3.4% in the fourth quarter of 2023 and 2.5% in 2023 as a whole (from the 2022 annual level to the 2023 annual level), according to the U.S. Bureau of Economic Analysis advance estimate.

Inflation and central banks’ responses to it impacted investor sentiment during the reporting period. The Federal Reserve (Fed) raised the fed funds target rate to 5.25% to 5.50% in July 2023 and has maintained that level at subsequent meetings. During the reporting period, inflation rates continued to run hotter than the target levels set by the Fed and other major central banks, although price pressures moderated significantly from the post-pandemic highs in 2022. While the Fed’s rate hiking cycle (which began in March 2022) caused uncertainty, the Fed’s pause after July 2023 led to expectations that it would begin decreasing rates some time in 2024.

During the reporting period, elevated inflation and higher borrowing costs weighed on some segments of the economy, including the real estate market. Consumer spending, however, has remained more resilient than expected, in part because of a still-strong labor market, another key gauge of the economy’s health. As of March 2024, the unemployment rate was 3.8%, near its

pre-pandemic

low, with monthly job growth continuing to moderate from the faster pace earlier in the post-pandemic recovery. The strong labor market and wage gains helped the U.S. economy during the reporting period, even as the Fed sought to soften job growth to help curb inflation pressures.

Investors also continued to monitor government funding and deficits during the reporting period. The U.S. government avoided a default scenario after approving an increase to the debt ceiling limit in June 2023. At the same time, the potential for a government shutdown loomed but was ultimately avoided with funding resolutions passed in September and November 2023 and February 2024. Notably, in August 2023, ratings agency Fitch downgraded U.S. debt from AAA to AA+ based on concerns about the U.S.’s growing fiscal debt and reduced confidence in fiscal management.

The broad municipal bond market was impacted by interest rate volatility, economic uncertainty and shifting expectations about the Fed’s monetary policy during the reporting period. Municipal yields rose across the maturity spectrum, despite a steep decline in November-December 2023, when Treasury markets moved sharply to reassess the timing of potential Fed rate cuts and municipal yields followed in kind. The fourth quarter of 2023 saw one of the municipal bonds’ best rallies in several decades, which more than offset negative performance in much of the rest of the reporting period. Municipal credit fundamentals remained strong in the reporting period, and reduced supply issuance continued to be met with healthy demand, which helped municipal credit spreads narrow. This drove stronger performance in bonds lower down the credit ratings spectrum relative to the highest rated paper.

What key strategies were used to manage the Fund during the twelve-month reporting period ended March 31, 2024?

The Fund’s primary investment objective is to provide current income through investments in taxable municipal securities. The Fund’s secondary investment objective is to seek enhanced portfolio value and total return. In addition, the Fund will use an integrated leverage and hedging strategy, so that the Fund has the potential to enhance income and risk-adjusted total return

over time. The Fund may employ leverage instruments such as bank borrowings, including loans from certain financial institutions, and portfolio investments that have the economic effect of leverage, including inverse floating rate securities. Inverse floating rate securities, sometimes referred to as “inverse floaters,” are the residual interest in a tender option bond (TOB) trust. These securities can be used for a variety of reasons, including duration management, income and total return enhancement.

During the reporting period, the Fund’s trading activity remained focused on pursuing its investment objectives. The portfolio management team engaged in opportunistic trades to support the Fund’s income by reinvesting premiums received as part of the Fund’s hedging program as well as bond calls and maturities across a variety of sectors, including health care, special tax, local general obligation and transportation, and across a range of credit qualities. Most of the Fund’s buying activity was in the secondary market given the modest volume of new issuance during the reporting period.

How did the Fund perform during the twelve-month reporting period ended March 31, 2024?

For the twelve months ended March 31, 2024, NBB outperformed the Bloomberg Taxable Municipal Long Bond Index. For the purposes of this Performance Commentary, references to relative performance are in comparison to the Bloomberg Taxable Municipal Long Bond Index.

The primary contributor to the Fund’s relative performance was its emphasis on lower rated, higher yield bonds, primarily overweights to the BBB, BB and A ratings categories as credit spreads tightened during the reporting period. During the reporting period, the portfolio management team managed the duration of the portfolio by shorting interest rate futures contracts, which was beneficial as interest rates generally rose during the reporting period. An overweight to the outperforming special tax sector also added to relative performance.

Partially offsetting the Fund’s outperformance was its underweight to bonds with durations of 12 years and longer and the overweight to durations between two and six years, which detracted as longer duration structures outperformed intermediate durations. Other detractors from relative performance included an underweight to the local general obligation sector, which performed well, and overweight to the water and sewer sector, which lagged.

The Fund continued to use leverage through inverse floating rate securities and reverse repurchase agreements during the reporting period. Leverage is discussed in more detail in the Fund Leverage section of this report.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio manager as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Fund disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein.

For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard

& Poor’s Group (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings, while BB, B, CCC, CC, C and D are below investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.

Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers’ ability to meet their commitments.

Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.

Fund Leverage

IMPACT OF THE FUND’S LEVERAGE STRATEGY ON PERFORMANCE

One important factor impacting the returns of the Fund’s common shares relative to its comparative benchmark was the Fund’s use of leverage through reverse repurchase agreements and investments in inverse floating rate securities, which represent leveraged investments in underlying bonds. The Fund uses leverage because our research has shown that, over time, leveraging provides opportunities for additional income. The opportunity arises when short-term rates that a Fund pays on its leveraging instruments are lower than the interest the Fund earns on its portfolio securities that it has bought with the proceeds of that leverage.

However, use of leverage can expose Fund common shares to additional price volatility. When the Fund uses leverage, the Fund’s common shares will experience a greater increase in their net asset value if the securities acquired through the use of leverage increase in value, but will also experience a correspondingly larger decline in their net asset value if the securities acquired through leverage decline in value. All this will make the shares’ total return performance more variable over time.

In addition, common share income in levered funds will typically decrease in comparison to unlevered funds when short-term interest rates increase and increase when short-term interest rates decrease. In recent quarters, fund leverage expenses have generally tracked the overall movement of short-term interest rates. While fund leverage expenses are higher than their prior year lows, leverage nevertheless continues to provide the opportunity for incremental common share income, particularly over longer-term periods.

The Fund’s use of leverage had a negligible impact on relative performance over the reporting period.

As of March 31, 2024, the Fund’s percentages of leverage are as shown in the accompanying table.


	NBB

Effective Leverage *		40.55%
Regulatory Leverage *		0.00%

* Effective leverage is a Fund’s effective economic leverage, and includes both regulatory leverage and the leverage effects of reverse repurchase agreements, certain derivatives and other investments in a Fund’s portfolio that increase the Fund’s investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Regulatory leverage consists of preferred shares issued or borrowings of a Fund. Both of these are part of a Fund’s capital structure. A Fund, however, may from time to time borrow on a typically transient basis in connection with its

day-to-day

operations, primarily in connection with the need to settle portfolio trades. Such incidental borrowings are excluded from the calculation of a Fund’s effective leverage ratio. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.

THE FUNDS’ LEVERAGE

Reverse Repurchase Agreements

As noted previously, the Fund used reverse repurchase agreements, in which the Fund sells to a counterparty a security that it holds with a contemporaneous agreement to repurchase the same security at an agreed-upon price and date. The Fund’s transactions in reverse repurchase agreements are as shown in the accompanying table.


	Current Reporting Period										Subsequent to the Close of the Reporting Period

Fund	Outstanding Balance as of April 1, 2023		Sales		Purchases		Outstanding Balance as of March 31, 2024		Average Balance Outstanding		Sales		Purchases		Outstanding Balance as of May 21, 2024

NBB		$186,950,000		$1,010,000,000		$(1,000,000,000)		$196,950,000		$189,310,656		$-		$-		$196,950,000

Refer to Notes to Financial Statements for further details on reverse repurchase agreements for the Fund.

Common Share Information

COMMON SHARE DISTRIBUTION INFORMATION

The following information regarding the Fund’s distributions is current as of March 31, 2024. The Fund’s distribution levels may vary over time based on the Fund’s investment activity and portfolio investments value changes.

During the current reporting period, the Fund’s distributions to common shareholders were as shown in the accompanying table.


	Per Common Share Amounts
Monthly Distributions (Ex-Dividend Date)	NBB

April		$0.0680
May		0.0680
June		0.0680
July		0.0680
August		0.0680
September		0.0680
October		0.0680
November		0.0680
December		0.0735
January		0.0735
February		0.0735
March		0.0735

Total Distributions from Net Investment Income		$0.8380

Total Distributions from Long Term Capital Gains 1		$0.4823

Total Distributions		$1.3203


Yields	NBB

Market Yield *		5.76%

*	Market Yield is based on the Fund’s current annualized monthly distribution divided by the Fund’s current market price as of the end of the reporting period.

The Fund seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit the Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. Distributions to common shareholders are determined on a tax basis, which may differ from amounts recorded in the accounting records. In instances where the monthly dividend exceeds the earned net investment income, the Fund would report a negative undistributed net ordinary income. Refer to the Notes to Financial Statements for additional information regarding the amounts of undistributed net ordinary income and undistributed net long-term capital gains and the character of the actual distributions paid by the Fund during the period.

Updated Distribution Policy

On October 23, 2023, the Funds’ Board of Trustees (the “Board”) updated Fund’s distribution policy. Effective for distributions payable on December 1, 2023, the Fund’s distribution policy, which may be changed by the Board, is to make regular monthly cash distributions to holders of its common shares (stated in terms of a fixed cents per common share dividend distribution rate which may be set from time to time). The Fund intends to distribute all or substantially all of its net investment income through its regular monthly distribution and to distribute realized capital gains at least annually. In addition, in any monthly period, to maintain its declared per common share distribution amount, the Fund may distribute more or less than its net investment income during the period. In the event the Fund distributes more than its net investment income during any yearly period, such distributions may also include realized gains and/or a return of capital. To the extent that a distribution includes a return of capital the NAV per share may erode. If a distribution includes anything other than net investment income, the Fund provides a notice of the best estimate of its distribution sources at the time of the distribution which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’

1099-DIV

forms after the end of the year.

NUVEEN

CLOSED-END

FUND DISTRIBUTION AMOUNTS

The Nuveen

Closed-End

Funds’ monthly and quarterly periodic distributions to shareholders are posted on www.nuveen.com and can be found on Nuveen’s enhanced

closed-end

fund resource page, which is at https://www.nuveen.com/resource-center-

Common Share Information

(continued)

closed-end-funds,

along with other Nuveen

closed-end

fund product updates. To ensure timely access to the latest information, shareholders may use a subscribe function, which can be activated at this web page (https://www.nuveen.com/subscriptions).

COMMON SHARE EQUITY SHELF PROGRAMS

During the current reporting period, the Fund was authorized by the Securities and Exchange Commission to issue additional common shares through an equity shelf program (Shelf Offering). Under these programs, the Fund, subject to market conditions, may raise additional capital from time to time in varying amounts and offering methods at a net price at or above the Fund’s NAV per common share. The maximum aggregate offering under these Shelf Offerings are as shown in the accompanying table.


	NBB

Maximum aggregate offering	$	162,000,000

Refer to Notes to Financial Statements, for further details of Shelf Offerings and the Fund’s transactions.

COMMON SHARE REPURCHASES

The Fund’s Board of Trustees authorized an open-market share repurchase program, allowing the Fund to repurchase and retire an aggregate of up to approximately 10% of its outstanding common shares.

During the current reporting period, the Fund did not repurchase any of its outstanding common shares. As of March 31, 2024, (and since the inception of the Fund’s repurchase programs), the Fund has cumulatively repurchased and retired its outstanding common shares as shown in the accompanying table.


	NBB

Common shares cumulatively repurchased and retired		0
Common shares authorized for repurchase		2,935,000

OTHER COMMON SHARE INFORMATION

As of March 31, 2024, the Fund’s common share prices were trading at a premium/(discount) to its common share NAV, and trading at an average premium/(discount) to NAV during the current reporting period, as follows:


	NBB

Common share NAV		$16.81
Common share price		$15.32
Premium/(Discount) to NAV		(8.86)%
Average premium/(discount) to NAV		(7.66)%

About the Fund’s Benchmark

Bloomberg Taxable Municipal Long Bond Index:

A rules-based index engineered for the long-term taxable municipal bond market. Bonds in the index have effective maturities of 10+ years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.


NBB		Nuveen Taxable Municipal Income Fund
NBB		Performance Overview and Holding Summaries March 31, 2024

Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.

Fund Performance*


			Total Returns as of March 31, 2024
			Average Annual
	Inception Date		1-Year		5-Year		10-Year

NBB at Common Share NAV		4/27/10		6.65%		1.33%		3.63%

NBB at Common Share Price		4/27/10		3.45%		0.47%		3.88%

Bloomberg Taxable Municipal Long Bond Index		–		3.19%		0.92%		3.53%

* For purposes of Fund performance, relative results are measured against the Bloomberg Taxable Municipal Long Bond Index. Through

November 16, 2018 the Fund’s performance was measured against the Bloomberg Aggregate- Eligible Build America Bond Index.

Performance data shown represents past performance and does not predict or guarantee future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund’s shares at NAV only. Indexes are not available for direct investment.

Daily Common Share NAV and Share Price

Growth of an Assumed $10,000 Investment as of March 31, 2024 -

Common Share Price

Holdings Summaries as of March 31, 2024

This data relates to the securities held in the Fund’s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.

For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.


Fund Allocation (% of net assets)

Municipal Bonds			144.0%

Repurchase Agreements			0.3%

Other Assets & Liabilities, Net			3.3%

Reverse Repurchase Agreements, including accrued interest			(40.1)%

Floating Rate Obligations			(7.5)%

Net Assets			100%


Portfolio Credit Quality (% of total investment exposure)

AAA			5.0%

AA			39.8%

A			22.5%

BBB			14.6%

BB or Lower			5.0%

N/R (not rated)			12.9%

N/A (not applicable)			0.2%

Total			100%


Portfolio Composition (% of total investments)

Tax Obligation/Limited			30.5%

Transportation			21.0%

Utilities			16.1%

Tax Obligation/General			9.0%

Health Care			8.6%

Education and Civic Organizations			5.5%

Other			9.1%

Repurchase Agreements			0.2%

Total			100%


States and Territories 1 (% of total municipal bonds)

California			20.0%

New York			19.2%

Illinois			8.5%

Texas			7.0%

Georgia			5.1%

Washington			4.9%

Ohio			4.4%

Tennessee			3.1%

New Jersey			2.8%

Florida			2.7%

District of Columbia			2.7%

Oklahoma			2.4%

South Carolina			2.4%

Virginia			2.3%

West Virginia			2.1%

Other			10.4%

Total			100%

1	See the Portfolio of Investments for the remaining states comprising “Other” and not listed in the table above.

[This page intentionally left blank.]

Report of Independent Registered

Public Accounting Firm

To the Shareholders and Board of Trustees

Nuveen Taxable Municipal Income Fund:

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of Nuveen Taxable Municipal Income Fund (the Fund), including the portfolio of investments, as of March 31, 2024, the related statements of operations and cash flows for the year then ended, the statements of changes in net assets for each of the years in the two year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the five year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of March 31, 2024, the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the years in the two year period then ended, and the financial highlights for each of the years in the five year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of March 31, 2024, by correspondence with custodians and brokers; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more Nuveen investment companies since 2014.

Chicago, Illinois

May 24, 2024


NBB		Nuveen Taxable Municipal Income Fund Portfolio of Investments March 31, 2024

Principal

Amount (000)

Description (a)

Optional Call

Provisions (b)

Value

LONG-TERM INVESTMENTS - 144.0% (99.8% of Total Investments)

MUNICIPAL BONDS - 144.0% (99.8% of Total Investments)

Alaska - 0.6% (0.4% of Total Investments)

$ 3,025

Port Lions, Alaska, Revenue Bonds, Kodiak Area Native Association Project, Taxable Series 2022, 7.500%, 10/01/52

10/32 at 100.00

3,159,822

Amendment: SEC Form N-CSR/A filed by Nuveen Taxable Municipal Income Fund