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lotter on DSK11XQN23PROD with NOTICES1

Federal Register / Vol. 86, No. 109 / Wednesday, June 9, 2021 / Notices The Adviser and Sub-Advisers are not registered as broker-dealers but are affiliated with broker-dealers. The Adviser and Sub-Advisers have implemented and will maintain a fire wall with respect to such broker-dealer affiliates regarding access to information concerning the composition of and/or changes to each Funds Actual Portfolio and/or Proxy Portfolio.
In the event a the Adviser and/or Sub-Advisers becomes registered as a broker-dealer or becomes newly affiliated with a broker-dealer, or b any new adviser or sub-adviser is a registered broker-dealer, or becomes affiliated with a broker-dealer, it will implement and maintain a fire wall with respect to its relevant personnel or its broker-dealer affiliate regarding access to information concerning the composition and/or changes to each Funds Actual Portfolio and/or Proxy Portfolio, and will be subject to procedures designed to prevent the use and dissemination of material nonpublic information regarding each Funds Actual Portfolio and/or Proxy Portfolio or changes thereto. Any person related to the Adviser, Sub-Advisers, or the Funds who makes decisions pertaining to a Funds Actual Portfolio or the Proxy Portfolio or has access to non-public information regarding a Funds Actual Portfolio and/or the Proxy Portfolio or changes thereto are subject to procedures reasonably designed to prevent the use and dissemination of material non-public information regarding a Funds Actual Portfolio and/or the Proxy Portfolio or changes thereto.
In addition, any person or entity, including any service provider for the Funds, who has access to non-public information regarding a Funds Actual Portfolio or the Proxy Portfolio or changes thereto, will be subject to procedures reasonably designed to prevent the use and dissemination of material non-public information regarding a Funds Actual Portfolio and/
or the Proxy Portfolio or changes thereto. Moreover, if any such person or entity is registered as a broker-dealer or affiliated with a broker-dealer, such person or entity has erected and will maintain a fire wall between the person or entity and the broker-dealer with respect to access to information concerning the composition and/or changes to a Funds Actual Portfolio and/or Proxy Portfolio.
Description of the Funds According to the Registration Statement, the Adviser will identify a Proxy Portfolio for each Fund, which is designed to closely track the daily
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performance of each Fund. Each Funds Proxy Portfolio will be constructed to replicate the daily performance of the Funds Actual Portfolio through a factor model analysis of the Funds Actual Portfolio and will only include securities and investments in which the Funds may invest. However, while the Proxy Portfolio and the Actual Portfolio will likely hold some or many of the same securities, the Proxy Portfolio and a Funds Actual Portfolio may not include identical securities. The composition of each Funds Proxy Portfolio will be published on the Funds website each Business Day 11
and will include the following information for each portfolio holding in the Proxy Portfolio: 1 Ticker symbol; 2 CUSIP or other identifier; 3
description of holding; 4 quantity of each security or other asset held; and 5
percentage weight of the holding in the Proxy Portfolio. The Proxy Portfolio will be reconstituted daily, and the Adviser will not make intra-day changes to the Proxy Portfolio except to correct errors in the published Proxy Portfolio.
In addition to the Proxy Portfolio, the Funds website will publish a variety of other information metrics regarding the relative behavior of the Proxy Portfolio and the Actual Portfolio, including daily disclosure of the Proxy Overlap 12 and the Tracking Error 13 for each Fund.
Nuveen Santa Barbara Dividend Growth ETF
The Funds holdings will conform to the permissible investments as set forth in the Application and Exemptive Order, and the holdings will be consistent with all requirements in the Application and Exemptive Order.14
11 Business
Day is defined to mean any day that the Exchange is open, including any day when a Fund satisfies redemption requests as required by Section 22e of the 1940 Act.
12 According to the Registration Statement, Proxy Overlap is the percentage weight overlap between the holdings of the Proxy Portfolio and the Actual Portfolio that formed the basis for each Funds calculation of NAV at the end of the prior Business Day.
13 According to the Registration Statement, Tracking Error is the standard deviation over the past three months of the daily proxy spread i.e., the difference, in percentage terms, between the Proxy Portfolio per share NAV and that of the Actual Portfolio at the end of the trading day.
14 Pursuant to the Application and Exemptive Order, the permissible investments for the Funds include only the following instruments: ETFs traded on a U.S. exchange; exchange-traded notes ETNs traded on a U.S. exchange; U.S. exchangetraded common stocks; common stocks listed on a foreign exchange that trade on such exchange contemporaneously with the Shares foreign common stocks in the Exchanges Core Trading Session normally, 9:30 a.m. to 4:00 p.m. Eastern time E.T.; U.S. exchange-traded preferred stocks; U.S. exchange-traded American Depositary Receipts ADRs; U.S. exchange-traded real estate
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Any foreign common stocks held by the Fund will be traded on an exchange that is a member of the Intermarket Surveillance Group ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement.
According to the Registration Statement, the Funds investment objective is to seek total return comprised of income from dividends and long-term capital appreciation. The Fund will normally invest at least 80%
of the sum of its net assets in dividendpaying exchange-traded equity securities, which include common stocks and preferred securities. The Fund may invest in small-, mid-, and large-cap companies.
Nuveen Small Cap Select ETF
The Funds holdings will conform to the permissible investments as set forth in the Application and Exemptive Order, and the holdings will be consistent with all requirements in the Application and Exemptive Order.15
Any foreign common stocks held by the Fund will be traded on an exchange that is a member of the ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement.
According to the Registration Statement, the Funds investment objective is capital appreciation. The Fund will normally invest at least 80%
of the sum of its net assets in exchangetraded common stocks of smallcapitalization companies.
Nuveen Winslow Large-Cap Growth ESG ETF
The Funds holdings will conform to the permissible investments as set forth in the Application and Exemptive Order, and the holdings will be consistent with all requirements in the Application and Exemptive Order.16
Any foreign common stocks held by the Fund will be traded on an exchange that is a member of the ISG or with which the Exchange has in place a investment trusts; U.S. exchange-traded commodity pools; U.S. exchange-traded metals trusts; U.S.
exchange-traded currency trusts; and U.S.
exchange-traded futures that trade contemporaneously with the Funds Shares. In addition, the Funds may hold cash and cash equivalents short-term U.S. Treasury securities, government money market funds, and repurchase agreements. Pursuant to the Application and Exemptive Order, the Funds will not hold short positions or invest in derivatives other than U.S.
exchange-traded futures, will not borrow for investment purposes, and will not purchase any securities that are illiquid investments at the time of purchase.
15 Id.
16 Id.

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