N-Q 1 a12-11351_14nq.htm N-Q

 

 

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 811-21619

 

 

Nuveen Equity Premium Income Fund

 

(Exact name of registrant as specified in charter)

 

   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:

12/31

 

Date of reporting period:

3/31/2012

 

 

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 (Unaudited)

 

 

 

 

 

Nuveen Equity Premium Income Fund (JPZ)

 

 

 

 

 

March 31, 2012

 

 

 

 

Shares

 

Description (1)

 

Value

 

 

 

Common Stocks – 101.6% (5)

 

 

 

 

 

Aerospace & Defense – 2.6%

 

 

 

44,366

 

Boeing Company

 

$    3,299,499

 

65,577

 

Honeywell International Inc.

 

4,003,476

 

32,905

 

Raytheon Company

 

1,736,726

 

51,543

 

United Technologies Corporation

 

4,274,976

 

 

 

Total Aerospace & Defense

 

13,314,677

 

 

 

Air Freight & Logistics – 0.9%

 

 

 

58,393

 

United Parcel Service, Inc., Class B

 

4,713,483

 

 

 

Airlines – 0.0%

 

 

 

3,957

 

United Continental Holdings Inc., (2)

 

85,076

 

 

 

Auto Components – 0.1%

 

 

 

30,296

 

Cooper Tire & Rubber

 

461,105

 

 

 

Automobiles – 0.8%

 

 

 

195,811

 

Ford Motor Company

 

2,445,679

 

32,461

 

Harley-Davidson, Inc.

 

1,593,186

 

 

 

Total Automobiles

 

4,038,865

 

 

 

Beverages – 2.4%

 

 

 

105,041

 

Coca-Cola Company

 

7,774,084

 

70,806

 

PepsiCo, Inc.

 

4,697,978

 

 

 

Total Beverages

 

12,472,062

 

 

 

Biotechnology – 1.0%

 

 

 

41,504

 

Amgen Inc.

 

2,821,857

 

18,099

 

Celgene Corporation, (2)

 

1,403,034

 

23,687

 

Gilead Sciences, Inc., (2)

 

1,157,110

 

 

 

Total Biotechnology

 

5,382,001

 

 

 

Building Products – 0.1%

 

 

 

42,748

 

Masco Corporation

 

571,541

 

 

 

Capital Markets – 1.8%

 

 

 

109,476

 

Charles Schwab Corporation

 

1,573,170

 

18,872

 

Goldman Sachs Group, Inc.

 

2,347,111

 

48,534

 

Jefferies Group, Inc.

 

914,381

 

40,593

 

Legg Mason, Inc.

 

1,133,762

 

107,319

 

Morgan Stanley

 

2,107,745

 

38,635

 

Waddell & Reed Financial, Inc., Class A

 

1,252,160

 

 

 

Total Capital Markets

 

9,328,329

 

 

 

Chemicals – 2.2%

 

 

 

53,348

 

Dow Chemical Company

 

1,847,975

 

54,215

 

E.I. Du Pont de Nemours and Company

 

2,867,974

 

34,457

 

Eastman Chemical Company

 

1,781,082

 

25,853

 

Monsanto Company

 

2,062,035

 

53,293

 

Olin Corporation

 

1,159,123

 

60,403

 

RPM International, Inc.

 

1,581,955

 

 

 

Total Chemicals

 

11,300,144

 

 

 

Commercial Banks – 3.1%

 

 

 

33,724

 

Comerica Incorporated

 

1,091,309

 

19,256

 

HSBC Holdings PLC, Sponsored ADR

 

854,774

 

10,984

 

PNC Financial Services Group, Inc.

 

708,358

 

2,869

 

Toronto-Dominion Bank

 

243,722

 

148,597

 

U.S. Bancorp

 

4,707,553

 

246,827

 

Wells Fargo & Company

 

8,426,674

 

 

 

Total Commercial Banks

 

16,032,390

 

 

 

Commercial Services & Supplies – 0.7%

 

 

 

3,177

 

Avery Dennison Corporation

 

95,723

 

56,149

 

Deluxe Corporation

 

1,315,010

 

40,642

 

Pitney Bowes Inc.

 

714,486

 

16,031

 

R.R. Donnelley & Sons Company

 

198,624

 

35,497

 

Waste Management, Inc.

 

1,240,975

 

 

 

Total Commercial Services & Supplies

 

3,564,818

 

 

 

Communications Equipment – 2.4%

 

 

 

14,156

 

ADTRAN, Inc.

 

441,526

 

3,408

 

Ciena Corporation, (2)

 

55,176

 

230,385

 

Cisco Systems, Inc.

 

4,872,643

 

11,034

 

JDS Uniphase Corporation, (2) 

 

159,883

 

15,048

 

Motorola Mobility Holdings Inc., (2)

 

590,484

 

25,703

 

Motorola Solutions Inc.

 

1,306,483

 

71,809

 

QUALCOMM, Inc.

 

4,884,448

 

 

 

Total Communications Equipment

 

12,310,643

 

 

 

 

Computers & Peripherals – 5.4%

 

 

 

37,824

 

Apple, Inc., (2)

 

22,674,353

 

67,332

 

Dell Inc., (2)

 

1,117,711

 

112,953

 

EMC Corporation, (2)

 

3,375,036

 

29,315

 

Hewlett-Packard Company

 

698,576

 

 

 

Total Computers & Peripherals

 

27,865,676

 

 

 

Consumer Finance – 0.4%

 

 

 

17,046

 

American Express Company

 

986,282

 

32,690

 

Discover Financial Services

 

1,089,885

 

 

 

Total Consumer Finance

 

2,076,167

 

 

 

Containers & Packaging – 0.3%

 

 

 

43,759

 

Packaging Corp. of America

 

1,294,829

 

5,718

 

Sonoco Products Company

 

189,838

 

 

 

Total Containers & Packaging

 

1,484,667

 

 

 

Distributors – 0.4%

 

 

 

34,770

 

Genuine Parts Company

 

2,181,818

 

 

 

Diversified Consumer Services – 0.1%

 

 

 

7,623

 

Apollo Group, Inc., (2)

 

294,553

 

 

 

Diversified Financial Services – 3.8%

 

 

 

414,679

 

Bank of America Corporation

 

3,968,478

 

80,886

 

Citigroup Inc.

 

2,956,383

 

6,790

 

CME Group, Inc.

 

1,964,551

 

198,535

 

JP Morgan Chase & Co.

 

9,128,639

 

47,644

 

New York Stock Exchange Euronext

 

1,429,796

 

 

 

Total Diversified Financial Services

 

19,447,847

 

 

 

Diversified Telecommunication Services – 3.4%

 

 

 

306,134

 

AT&T Inc.

 

9,560,565

 

29,237

 

CenturyLink Inc.

 

1,130,010

 

250,097

 

Frontier Communications Corporation

 

1,042,904

 

141,690

 

Verizon Communications Inc.

 

5,416,809

 

18,198

 

Windstream Corporation

 

213,099

 

 

 

Total Diversified Telecommunication Services

 

17,363,387

 

 

 

Electric Utilities – 1.4%

 

 

 

101,943

 

Duke Energy Corporation

 

2,141,822

 

6,959

 

Exelon Corporation

 

272,862

 

27,323

 

Great Plains Energy Incorporated

 

553,837

 

80,800

 

Pepco Holdings, Inc.

 

1,526,312

 

29,370

 

Progress Energy, Inc.

 

1,559,841

 

27,732

 

Southern Company

 

1,245,999

 

 

 

Total Electric Utilities

 

7,300,673

 

 

 

Electrical Equipment – 0.7%

 

 

 

49,909

 

Emerson Electric Company

 

2,604,252

 

14,553

 

Rockwell Automation, Inc.

 

1,159,874

 

 

 

Total Electrical Equipment

 

3,764,126

 

 

 

Electronic Equipment & Instruments – 0.3%

 

 

 

118,215

 

Corning Incorporated

 

1,664,467

 

 

 

Energy Equipment & Services – 2.1%

 

 

 

6,964

 

Diamond Offshore Drilling, Inc.

 

464,847

 

18,452

 

Ensco PLC

 

976,664

 

83,720

 

Halliburton Company

 

2,778,667

 

16,059

 

Patterson-UTI Energy, Inc.

 

277,660

 

73,781

 

Schlumberger Limited

 

5,159,505

 

16,157

 

Tidewater Inc.

 

872,801

 

 

 

Total Energy Equipment & Services

 

10,530,144

 

 

 

Food & Staples Retailing – 1.6%

 

 

 

74,719

 

CVS Caremark Corporation

 

3,347,411

 

38,696

 

SUPERVALU INC.

 

220,954

 

76,068

 

Wal-Mart Stores, Inc.

 

4,655,362

 

 

 

Total Food & Staples Retailing

 

8,223,727

 

 

 

Food Products – 1.1%

 

 

 

116,351

 

Kraft Foods Inc.

 

4,422,502

 

57,000

 

Sara Lee Corporation

 

1,227,210

 

 

 

Total Food Products

 

5,649,712

 

 

 

Gas Utilities – 1.0%

 

 

 

36,141

 

AGL Resources Inc.

 

1,417,450

 

28,666

 

Atmos Energy Corporation

 

901,832

 

22,995

 

National Fuel Gas Company

 

1,106,519

 

21,483

 

ONEOK, Inc.

 

1,754,302

 

 

 

Total Gas Utilities

 

5,180,103

 

 

 

Health Care Equipment & Supplies – 1.0%

 

 

 

4,460

 

Hologic Inc., (2)

 

96,113

 

3,518

 

Intuitive Surgical, Inc., (2)

 

1,905,877

 

78,706

 

Medtronic, Inc.

 

3,084,488

 

 

 

Total Health Care Equipment & Supplies

 

5,086,478

 

 

 

 

Health Care Providers & Services – 2.3%

 

 

 

6,901

 

Brookdale Senior Living Inc., (2)

 

129,187

 

15,450

 

Coventry Health Care, Inc., (2)

 

549,557

 

35,037

 

Express Scripts, Holding Company, (2)

 

1,898,305

 

17,609

 

HCA Holdings Inc., (2)

 

435,647

 

1,116

 

Henry Schein Inc., (2)

 

84,459

 

39,267

 

Kindred Healthcare Inc., (2)

 

339,267

 

30,795

 

Medco Health Solutions Inc., (2)

 

2,164,889

 

73,429

 

UnitedHealth Group Incorporated

 

4,327,905

 

25,221

 

Wellpoint Inc.

 

1,861,310

 

 

 

Total Health Care Providers & Services

 

11,790,526

 

 

 

Health Care Technology – 0.0%

 

 

 

114

 

Cerner Corporation, (2)

 

8,682

 

 

 

Hotels, Restaurants & Leisure – 1.4%

 

 

 

22,200

 

Carnival Corporation

 

712,176

 

42,761

 

International Game Technology

 

717,957

 

2,272

 

Interval Leisure Group Inc., (2)

 

39,533

 

60,499

 

McDonald’s Corporation

 

5,934,952

 

 

 

Total Hotels, Restaurants & Leisure

 

7,404,618

 

 

 

Household Durables – 0.8%

 

 

 

9,688

 

Garmin Limited

 

454,852

 

64,653

 

Newell Rubbermaid Inc.

 

1,151,470

 

22,404

 

Tupperware Corporation

 

1,422,654

 

11,356

 

Whirlpool Corporation

 

872,822

 

 

 

Total Household Durables

 

3,901,798

 

 

 

Household Products – 2.0%

 

 

 

15,477

 

Colgate-Palmolive Company

 

1,513,341

 

12,645

 

Kimberly-Clark Corporation

 

934,339

 

112,990

 

Procter & Gamble Company

 

7,594,058

 

 

 

Total Household Products

 

10,041,738

 

 

 

Industrial Conglomerates – 2.5%

 

 

 

28,842

 

3M Co.

 

2,572,995

 

505,901

 

General Electric Company

 

10,153,433

 

57

 

Siemens AG, Sponsored ADR

 

5,748

 

 

 

Total Industrial Conglomerates

 

12,732,176

 

 

 

Insurance – 2.1%

 

 

 

47,749

 

Allstate Corporation

 

1,571,897

 

8,871

 

Arthur J. Gallagher & Co.

 

317,050

 

46,985

 

Fidelity National Title Group Inc., Class A

 

847,140

 

26,683

 

Hartford Financial Services Group, Inc.

 

562,478

 

52,700

 

Kemper Corporation

 

1,595,756

 

63,881

 

Lincoln National Corporation

 

1,683,903

 

63,867

 

Marsh & McLennan Companies, Inc.

 

2,094,199

 

35,702

 

Travelers Companies, Inc.

 

2,113,558

 

 

 

Total Insurance

 

10,785,981

 

 

 

Internet & Catalog Retail – 1.0%

 

 

 

15,029

 

Amazon.com, Inc., (2)

 

3,043,523

 

3,103

 

Hosting Site Network, Inc.

 

118,007

 

2,786

 

priceline.com Incorporated, (2)

 

1,998,955

 

 

 

Total Internet & Catalog Retail

 

5,160,485

 

 

 

Internet Software & Services – 2.1%

 

 

 

10,937

 

Akamai Technologies, Inc., (2)

 

401,388

 

52,022

 

eBay Inc., (2)

 

1,919,092

 

10,446

 

Google Inc., Class A, (2)

 

6,698,393

 

44,605

 

United Online, Inc.

 

218,118

 

5,616

 

ValueClick, Inc., (2)

 

110,860

 

10,122

 

VeriSign, Inc., (2)

 

388,077

 

72,091

 

Yahoo! Inc., (2)

 

1,097,225

 

 

 

Total Internet Software & Services

 

10,833,153

 

 

 

IT Services – 4.0%

 

 

 

34,496

 

Automatic Data Processing, Inc.

 

1,903,834

 

17,199

 

Cognizant Technology Solutions Corporation, Class A, (2)

 

1,323,463

 

32,696

 

Fidelity National Information Services

 

1,082,892

 

51,648

 

International Business Machines Corporation (IBM)

 

10,776,355

 

3,197

 

Lender Processing Services Inc.

 

83,122

 

5,940

 

MasterCard, Inc.

 

2,498,008

 

42,671

 

Paychex, Inc.

 

1,322,374

 

13,859

 

Visa Inc.

 

1,635,362

 

 

 

Total IT Services

 

20,625,410

 

 

 

Leisure Equipment & Products – 0.3%

 

 

 

22,544

 

Polaris Industries Inc.

 

1,626,550

 

 

 

Machinery – 2.9%

 

 

 

28,606

 

Caterpillar Inc.

 

3,047,111

 

17,395

 

Cummins Inc.

 

2,088,096

 

20,434

 

Deere & Company

 

1,653,111

 

13,600

 

Graco Inc.

 

721,616

 

13,107

 

Ingersoll Rand Company Limited, Class A

 

541,974

 

16,893

 

Parker Hannifin Corporation

 

1,428,303

 

11,767

 

Snap-on Incorporated

 

717,434

 

24,465

 

SPX Corporation

 

1,896,771

 

27,348

 

Stanley Black & Decker Inc.

 

2,104,702

 

12,000

 

Timken Company

 

608,880

 

 

 

Total Machinery

 

14,807,998

 

 

 

 

Media – 2.7%

 

 

 

56,665

 

CBS Corporation, Class B

 

1,921,510

 

117,549

 

Comcast Corporation, Class A

 

3,527,645

 

39,613

 

New York Times, Class A, (2)

 

268,972

 

35,396

 

Omnicom Group, Inc.

 

1,792,807

 

114,479

 

Regal Entertainment Group, Class A

 

1,556,914

 

103,897

 

Walt Disney Company

 

4,548,611

 

 

 

Total Media

 

13,616,459

 

 

 

Metals & Mining – 1.0%

 

 

 

88,284

 

Alcoa Inc.

 

884,606

 

44,474

 

Freeport-McMoRan Copper & Gold, Inc.

 

1,691,791

 

6,726

 

Newmont Mining Corporation

 

344,842

 

28,148

 

Nucor Corporation

 

1,208,957

 

32,749

 

Southern Copper Corporation

 

1,038,471

 

 

 

Total Metals & Mining

 

5,168,667

 

 

 

Multiline Retail – 1.2%

 

 

 

10

 

Dollar Tree Stores Inc., (2)

 

945

 

4,000

 

Family Dollar Stores, Inc.

 

253,120

 

36,680

 

Macy’s, Inc.

 

1,457,296

 

36,926

 

Nordstrom, Inc.

 

2,057,517

 

8,076

 

Sears Holding Corporation, (2)

 

535,035

 

34,401

 

Target Corporation

 

2,004,546

 

 

 

Total Multiline Retail

 

6,308,459

 

 

 

Multi-Utilities – 2.1%

 

 

 

40,360

 

Ameren Corporation

 

1,314,929

 

25,585

 

Consolidated Edison, Inc.

 

1,494,676

 

71,595

 

Integrys Energy Group, Inc.

 

3,793,819

 

15,861

 

Northwestern Corporation

 

562,431

 

29,588

 

OGE Energy Corp.

 

1,582,958

 

60,504

 

Public Service Enterprise Group Incorporated

 

1,852,027

 

 

 

Total Multi-Utilities

 

10,600,840

 

 

 

Oil, Gas & Consumable Fuels – 9.6%

 

 

 

9,051

 

Cenovus Energy Inc.

 

325,293

 

94,802

 

Chevron Corporation

 

10,166,566

 

77,146

 

ConocoPhillips

 

5,863,867

 

39,168

 

CONSOL Energy Inc.

 

1,335,629

 

26,351

 

Continental Resources Inc., (2)

 

2,261,443

 

16,151

 

EnCana Corporation

 

317,367

 

28,911

 

EOG Resources, Inc.

 

3,212,012

 

220,293

 

Exxon Mobil Corporation

 

19,106,012

 

48,380

 

Occidental Petroleum Corporation

 

4,607,227

 

4,626

 

Total SA, Sponsored ADR

 

236,481

 

76,829

 

Valero Energy Corporation

 

1,979,883

 

 

 

Total Oil, Gas & Consumable Fuels

 

49,411,780

 

 

 

Pharmaceuticals – 7.1%

 

 

 

91,791

 

Abbott Laboratories

 

5,625,870

 

120,797

 

Bristol-Myers Squibb Company

 

4,076,899

 

57,664

 

Eli Lilly and Company

 

2,322,129

 

129,934

 

Johnson & Johnson

 

8,570,447

 

165,408

 

Merck & Company Inc.

 

6,351,667

 

384,228

 

Pfizer Inc.

 

8,706,606

 

14,222

 

Sanofi-Aventis, Sponsored ADR

 

551,103

 

 

 

Total Pharmaceuticals

 

36,204,721

 

 

 

Professional Services – 0.1%

 

 

 

3,665

 

Manpower Inc.

 

173,611

 

20,209

 

Resources Connection, Inc.

 

283,936

 

 

 

Total Professional Services

 

457,547

 

 

 

Real Estate Investment Trust – 2.5%

 

 

 

111,810

 

Annaly Capital Management Inc.

 

1,768,834

 

39,521

 

Brandywine Realty Trust

 

453,701

 

44,183

 

CapLease Inc.

 

178,057

 

25,456

 

CommonWealth REIT

 

473,991

 

55,131

 

CubeSmart

 

656,059

 

15,432

 

Health Care REIT, Inc.

 

848,143

 

49,625

 

Healthcare Realty Trust, Inc.

 

1,091,750

 

45,684

 

Hospitality Properties Trust

 

1,209,255

 

88,469

 

Lexington Corporate Properties Trust

 

795,336

 

27,077

 

Liberty Property Trust

 

967,190

 

17,263

 

Medical Properties Trust Inc.

 

160,201

 

28,311

 

MFA Mortgage Investments, Inc.

 

211,483

 

26,716

 

Senior Housing Properties Trust

 

589,088

 

11,215

 

Sun Communities Inc.

 

485,946

 

25,359

 

Ventas Inc.

 

1,447,999

 

54,475

 

Weyerhaeuser Company

 

1,194,092

 

 

 

Total Real Estate Investment Trust

 

12,531,125

 

 

 

Road & Rail – 0.8%

 

 

 

17,765

 

Norfolk Southern Corporation

 

1,169,470

 

25,475

 

Union Pacific Corporation

 

2,738,053

 

 

 

Total Road & Rail

 

3,907,523

 

 

 

 

Semiconductors & Equipment – 2.6%

 

 

 

25,275

 

Analog Devices, Inc.

 

1,021,110

 

96,369

 

Applied Materials, Inc.

 

1,198,830

 

21,444

 

Broadcom Corporation, Class A

 

842,749

 

252,373

 

Intel Corporation

 

7,094,205

 

12,846

 

Intersil Holding Corporation, Class A

 

143,875

 

3,087

 

Lam Research Corporation, (2)

 

137,742

 

24,776

 

Microchip Technology Incorporated

 

921,667

 

27,856

 

NVIDIA Corporation, (2)

 

428,704

 

51,579

 

Texas Instruments Incorporated

 

1,733,570

 

 

 

Total Semiconductors & Equipment

 

13,522,452

 

 

 

Software – 3.8%

 

 

 

23,572

 

Adobe Systems Incorporated, (2)

 

808,755

 

18,599

 

Autodesk, Inc., (2)

 

787,110

 

349,236

 

Microsoft Corporation

 

11,262,861

 

181,902

 

Oracle Corporation

 

5,304,262

 

9,475

 

Salesforce.com, Inc., (2)

 

1,463,982

 

 

 

Total Software

 

19,626,970

 

 

 

Specialty Retail – 2.6%

 

 

 

23,495

 

Abercrombie & Fitch Co., Class A

 

1,165,587

 

41,497

 

American Eagle Outfitters, Inc.

 

713,333

 

21,475

 

Best Buy Co., Inc.

 

508,528

 

86,692

 

Home Depot, Inc.

 

4,361,475

 

36,817

 

Limited Brands, Inc.

 

1,767,216

 

74,638

 

Lowe’s Companies, Inc.

 

2,342,140

 

364

 

Orchard Supply Hardware Stores Corporation, (2)

 

7,517

 

472

 

Ross Stores, Inc.

 

27,423

 

13,465

 

Tiffany & Co.

 

930,835

 

36,102

 

TJX Companies, Inc.

 

1,433,610

 

 

 

Total Specialty Retail

 

13,257,664

 

 

 

Textiles, Apparel & Luxury Goods – 0.4%

 

 

 

7,159

 

Cherokee Inc.

 

81,541

 

15,061

 

VF Corporation

 

2,198,605

 

 

 

Total Textiles, Apparel & Luxury Goods

 

2,280,146

 

 

 

Thrifts & Mortgage Finance – 0.3%

 

 

 

36,703

 

Hudson City Bancorp, Inc.

 

268,299

 

60,610

 

New York Community Bancorp Inc.

 

843,085

 

38,788

 

TrustCo Bank Corporation NY

 

221,479

 

 

 

Total Thrifts & Mortgage Finance

 

1,332,863

 

 

 

Tobacco – 2.3%

 

 

 

110,378

 

Altria Group, Inc.

 

3,407,369

 

81,518

 

Philip Morris International

 

7,223,310

 

21,468

 

Reynolds American Inc.

 

889,634

 

4,866

 

Vector Group Ltd.

 

86,226

 

 

 

Total Tobacco

 

11,606,539

 

 

 

Wireless Telecommunication Services – 0.0%

 

 

 

5,500

 

USA Mobility Inc.

 

76,616

 

 

 

Total Common Stocks (cost $395,989,458)

 

521,318,165

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity

 

 

 

Value

 

 

 

Short-Term Investments – 4.3%

 

 

 

 

 

 

 

 

 

$     21,799

 

Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/30/12, repurchase price $21,799,242, collateralized by $20,685,000 U.S. Treasury Notes, 2.375%, due 3/31/16, value $22,236,375

 

0.010%

 

4/02/12

 

 

 

$  21,799,224

 

 

 

Total Short-Term Investments (cost $21,799,224)

 

 

 

 

 

 

 

21,799,224

 

 

 

Total Investments (cost $417,788,682) - 105.9%

 

 

 

 

 

 

 

543,117,389

 

 

 

Other Assets Less Liabilities - (5.9)% (3)

 

 

 

 

 

 

 

(30,348,061

)

 

 

Net Assets - 100%

 

 

 

 

 

 

 

$ 512,769,328

 

 

Investments in Derivatives at March 31, 2012

 

Call Options Written outstanding:

 

Number of

 

 

 

Notional

 

Expiration

 

Strike

 

 

 

Contracts

 

Type

 

Amount (4)

 

Date

 

Price

 

Value

 

 

 

Call Options Written - (4.1)%

 

 

 

 

 

 

 

 

 

(459

)

S&P 500 Index

 

$  (63,112,500

)

4/21/12

 

$1,375.0

 

$

(1,836,000

)

(468

)

S&P 500 Index

 

(65,520,000

)

4/21/12

 

1,400.0

 

(1,001,520

)

(429

)

S&P 500 Index

 

(56,842,500

)

4/21/12

 

1,325.0

 

(3,642,210

)

(429

)

S&P 500 Index

 

(57,915,000

)

4/21/12

 

1,350.0

 

(2,642,640

)

(500

)

S&P 500 Index

 

(66,250,000

)

5/19/12

 

1,325.0

 

(4,470,000

)

(449

)

S&P 500 Index

 

(60,615,000

)

5/19/12

 

1,350.0

 

(3,066,670

)

(452

)

S&P 500 Index

 

(62,150,000

)

5/19/12

 

1,375.0

 

(2,205,760

)

(488

)

S&P 500 Index

 

(68,320,000

)

6/16/12

 

1,400.0

 

(1,991,040

)

(3,674

)

Total Call Options Written (premiums received $14,529,755)

 

$(500,725,000

)

 

 

 

 

$

(20,855,840

)

 

 

 

Fair Value Measurements

 

 

 

Fair value is defined as the price that the Fund would receive 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:

 

 

 

Level 1 – Quoted prices in active markets for identical securities.

 

 

 

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

 

 

 

Level 3 – 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 March 31, 2012:

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

Long-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

Common Stocks

 

$521,318,165

 

$                –

 

$             –

 

$521,318,165

 

 

 

Short-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreements

 

 

21,799,224

 

 

21,799,224

 

 

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

Call Options Written

 

(20,855,840

)

 

 

(20,855,840

)

 

 

Total

 

$500,462,325

 

$21,799,224

 

$             –

 

$522,261,549

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following is a reconciliation of the Fund’s Level 3 investments held at the beginning and end of the measurement period:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 3

 

Level 3

 

Level 3

 

 

 

 

 

 

 

Common Stocks

 

Preferred Stocks

 

Total

 

 

 

Balance at the beginning of period

 

 

 

$    881

 

$ 881

 

$ 1,762

 

 

 

Gains (losses):

 

 

 

 

 

 

 

 

 

 

 

Net realized gains (losses)

 

 

 

(55

)

(2

)

(57

)

 

 

Net change in unrealized appreciation (depreciation)

 

6,702

 

91

 

6,793

 

 

 

Purchases at cost

 

 

 

 

 

 

 

 

Sales at proceeds

 

 

 

(11

)

(970

)

(981

)

 

 

Net discounts (premiums)

 

 

 

 

 

 

 

 

Transfers in to

 

 

 

 

 

 

 

 

Transfers out of

 

 

 

(7,517

)

 

(7,517

)

 

 

Balance at the end of period

 

 

 

$        –

 

$     –

 

$        –

 

 

 

 

 

 

 

During the period ended March 31, 2012, the Fund recognized no transfers to or from Level 1 or Level 2. Transfers in and/or out of Level 3 are shown using end of period values.

 

 

 

 

 

 

 

Derivative Instruments and Hedging Activities

 

 

 

 

 

 

 

The Fund records derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.

 

 

 

 

 

 

 

The following table presents the fair value of all derivative instruments held by the Fund as of March 31, 2012, the location of these instruments on the Statement of Assets and Liablilities, and the primary underlying risk exposure.

 

 

 

 

 

 

 

 

 

 

 

Location on the Statements of Assets and Liabilities

 

 

 

Underlying

 

Derivative

 

Asset Derivatives

 

Liability Derivatives

 

 

 

Risk Exposure

 

Instrument

 

Location

 

Value

 

Location

 

Value

 

 

 

Equity Price

 

Options

 

 

$

 

Call options written, at value

 

$    20,855,840

 

 

 

 

 

 

 

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 recording income, timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on option contracts. 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.

 

 

 

 

 

 

 

At March 31, 2012, the cost of investments (excluding investments in derivatives) was $418,200,927.

 

 

 

 

 

 

 

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) at March 31, 2012, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross unrealized:

 

 

 

 

 

 

 

Appreciation

 

 

 

$  173,661,089

 

 

 

Depreciation

 

 

 

(48,744,627

)

 

 

 

 

 

 

 

 

 

 

Net unrealized appreciation (depreciation) of investments

 

 

 

$  124,916,462

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.

 

 

 

 

 

 

 

 

 

(1)

 

All percentages in the Portfolio of Investments are based on net assets.

 

 

 

(2)

 

Non-income producing; issuer has not declared a dividend within the past twelve months.

 

 

 

(3)

 

Other Assets Less Liabilities includes the Value of derivative instruments as noted in Investments in Derivatives at March 31, 2012.

 

 

 

(4)

 

For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100.

 

 

 

(5)

 

The Fund may designate up to 100% of its Common Stock investments to cover outstanding Call Options Written.

 

 

 

ADR

 

American Depositary Receipt.

 

 



 

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: 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 Equity Premium Income Fund

 

 

 

 

 

 

 

By (Signature and Title)

/s/ Kevin J. McCarthy

 

 

Kevin J. McCarthy

 

 

Vice President and Secretary

 

 

 

Date May 30, 2012

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 May 30, 2012

 

 

 

By (Signature and Title)

/s/ Stephen D. Foy

 

 

Stephen D. Foy

 

 

Vice President and Controller (principal financial officer)

 

 

 

Date May 30, 2012