N-CSRS

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			811-21731
Nuveen Equity Premium Advantage 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)
Kevin J. McCarthy 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:	December 31
Date of reporting period:		June 30, 2013

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.

ITEM 1. REPORTS TO STOCKHOLDERS.

Closed-End Funds

Nuveen Investments

Closed-End Funds

Seeks Attractive Quarterly Distributions from an Integrated Index Option and Equity Strategy

Semi-Annual Report

June 30, 2013

Nuveen Equity Premium Income Fund

JPZ

Nuveen Equity Premium Opportunity Fund

JSN

Nuveen Equity Premium Advantage Fund

JLA

Nuveen Equity Premium and Growth Fund

JPG

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Table of Contents

Letter to Shareholders	4
Portfolio Managers' Comments	5
Share Information	7
Risk Considerations	10
Performance Overviews and Holding Summaries	11
Shareholder Meeting Report	15
Portfolios of Investments	16
Statement of Assets & Liabilities	48
Statement of Operations	49
Statement of Changes in Net Assets	50
Financial Highlights	52
Notes to Financial Statements	54
Annual Investment Management Agreement Approval Process	65
Reinvest Automatically, Easily and Conveniently	73
Glossary of Terms Used in this Report	75
Additional Fund Information	79

Letter to Shareholders

Dear Shareholders,

After nine years of serving as lead director and independent chairman of the Nuveen Fund Board, my term of office has come to an end as of June 30, 2013. It has been a privilege to use this space to communicate with you on some of the broad economic trends in the U.S. and abroad and how they are impacting the investment environment in which your funds operate. In addition, I have enjoyed offering some perspective on how your Board views the various Nuveen investment teams as they apply their investment disciplines in that investment environment.

My term has coincided with a particularly challenging period for both mutual fund sponsors and investors. Since 2000 there have been three periods of unusually strong stock market growth and two major market declines. Recent years have been characterized by a search for yield in fixed income securities to compensate for an extended period of very low interest rates. Funds are investing more in foreign and emerging markets that require extensive research capabilities to overcome the more limited transparency and higher volatility in those markets. New fund concepts often incorporate derivative financial instruments that offer efficient ways to hedge investment risk or gain exposure to selected markets. Fund trading teams operate in many new domestic and international venues with quite different characteristics. Electronic trading and global communication networks mean that fund managers must be able to thrive in financial markets that react instantaneously to newsworthy events and are more interconnected than ever.

Nuveen has committed additional resources to respond to these changes in the fund industry environment. It has added IT and research resources to assemble and evaluate the increased flow of detailed information on economies, markets and individual companies. Based on its experience during the financial crisis of 2008-09, Nuveen has expanded its resources dedicated to valuing and trading portfolio securities with a particular focus on stressed financial market conditions. It has added systems and experienced risk management professionals to work with investment teams to better help evaluate whether their funds' risk exposures are appropriate in view of the return targets. The investment teams have also reflected on recent experience to reaffirm or modify their investment disciplines. Finally, experienced professionals and IT resources have been added to address new regulatory requirements designed to better inform and protect investors. The Nuveen Fund Board has enthusiastically encouraged these initiatives.

The Board has always viewed itself as your representatives to assure that Nuveen brings together experienced people, proven technologies and effective processes designed to produce results that meet investor expectations. It is important to note that our activities are highlighted by the annual contract renewal process. Despite its somewhat formal language, I strongly encourage you to read the summary because it offers an insight into our oversight process. The report is included in the back of this shareholder report. The renewal process is very comprehensive and includes a number of evaluations and discussions between the Board and Nuveen during the year. The summary also describes what has been achieved across the Nuveen fund complex and at individual funds such as yours.

As I leave the chairmanship and resume my role as a member of the Board, please be assured that I and my fellow Board members will continue to hold your interests uppermost in our minds as we oversee the management of your funds and that we greatly appreciate your confidence in your Nuveen fund.

Very sincerely,

Robert P. Bremner
August 22, 2013

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4

Portfolio Managers' Comments

Nuveen Equity Premium Income Fund (JPZ)
Nuveen Equity Premium Opportunity Fund (JSN)
Nuveen Equity Premium Advantage Fund (JLA)
Nuveen Equity Premium and Growth Fund (JPG)

These Funds feature portfolio management by Gateway Investment Advisers, LLC. Kenneth H. Toft and Michael T. Buckius are co-portfolio managers for all four Funds. During the reporting period, effective February 21, 2013, J. Patrick Rogers no longer serves as a portfolio manager of the Funds. Each Fund's investment objectives and investment strategies remain unchanged.

Here they discuss their management strategies and the performance of the Funds for the six-month reporting period ended June 30, 2013.

What key strategies were used to manage the Funds during this six-month reporting period ended June 30, 2013?

Each Fund invests in an equity portfolio and writes (sells) index call options against all or a portion of the notional value of its stock portfolio. The premium generated by the index call options is intended to supplement the dividend yield on the underlying stock portfolio to support each Fund's distribution policy and to provide the potential for growth in value during rising markets and/or risk mitigation in the event of a market decline. These strategies remained consistent for each Fund throughout the period.

For JPZ and JPG, the equity portfolio seeks to track the price movements of the S&P 500^® Index. The JSN equity portfolio is invested to replicate the price performance of a custom index consisting of 75% S&P 500^® Index and 25% NASDAQ-100 Index (NDX). JLA seeks to replicate a 50/50 blend of the S&P 500^® Index and the NDX. JPZ, JSN and JLA actively write (sell) listed index call options against the entire value of their stock portfolios. JPG differs in that its index option hedging activity is applied to 80% of equity portfolio valuation.

The writing of call options on a broad equity index, while investing in a portfolio of equities, has the potential to enhance returns while exposing the Funds to less risk. Those portions of the Funds subject to the overwrite sacrifice some of their upside potential in return for premium received for the written index call options. The downside is buffered by the amount of the cash flow premium received. In flat or declining markets, the option premium can enhance total returns relative to the comparative index. In rising markets, the options can hurt the Funds' total return relative to their comparative index.

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 managers 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 Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.

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5

How did the Funds perform during this six-month reporting period ended June 30, 2013?

The tables in the Performance Overview and Holding Summaries section of this report provide total return performance for the Funds for the six-month, one-year, five-year and since inception periods ended June 30, 2013. For the six-month period ended June 30, 2013, the Funds' shares at net asset value (NAV) underperformed their respective comparative unhedged equity indexes. The two referenced indexes, the S&P 500^® Index and the NDX, both advanced significantly, primarily on the strength of strong first-quarter performance. Concurrently, implied volatility, which affects option premiums on both indexes, was slightly below historical averages, primarily due to the presence of ample central bank liquidity. For the first six months of 2013, the Chicago Board Options Exchange Volatility Index (the "VIX") averaged 14.20 while the Chicago Board Options Exchange NDX Volatility Index (the "VXN") averaged 15.27. Nevertheless, rising equity markets and modest option premiums were sufficient so that the four Funds produced positive returns for the reporting period. Most importantly, all four Funds delivered their returns with less risk than long only equities and, like the referenced indexes, most of their returns occurred during the first quarter.

Also impacting performance was low implied volatility, which reduced the amount of option premium available to earn during the first six months of 2013. During the second quarter, market reversals were particularly problematic. These whipsaws were challenging for the Funds' call selling because, on the upside, performance was capped by at-the-money strike prices while, on the downside, declines were limited by the amount of premium earned.

Most of the underperformance for all four strategies was attributable to writing call options relative to equity only benchmarks such as the S&P 500 Index or a blend of the S&P 500 Index and the NASDAQ 100 Index. However, compared to 100% hedged passive equity indices, such as the CBOE S&P 500 BuyWrite Index (BXM) and the CBOE NASDAQ-100 BuyWrite Index (BXN), all four strategies exceeded the returns of the corresponding hedged equity index (or blend of the two hedged equity indices as in the case of JSN and JLA) for the six month period ending June 30, 2013. BXM returned approximately 4.9% and BXN returned approximately 5.0% for the six month period ending June 30, 2013.

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Share Information

Distribution Information

The following information regarding each Fund's distributions is current as of June 30, 2013, and likely will vary over time based on the Fund's investment activities and portfolio investment value changes.

During the current reporting period, the Funds' quarterly dividends to shareholders were as shown in the accompanying table.

	Per Share Amounts
	JPZ			JSN			JLA			JPG
March	$	0.2710		$	0.2790		$	0.2840		$	0.2800
June		0.2710			0.2790			0.2840			0.2800
Current Distribution Rate*		8.62	%		9.04	%		9.21	%		8.12	%

*  Current Distribution Rate is based on the Funds' current annualized quarterly distribution divided by the Funds' current market price. The Funds' quarterly distributions to its shareholders may be comprised of ordinary income, net realized capital gains and, if at the end of the fiscal year the Funds' cumulative net ordinary income and net realized gains are less than the amount of the Funds' distributions, a return of capital for tax purposes.

Each Fund has a managed distribution program. The goal of this program is to provide shareholders with relatively consistent and predictable cash flow by systematically converting the Fund's expected long-term return potential into regular distributions. As a result, regular distributions throughout the year are likely to include a portion of expected long-term gains (both realized and unrealized), along with net investment income.

Important points to understand about the managed distribution program are:

•  Each Fund seeks to establish a relatively stable distribution rate that roughly corresponds to the projected total return from its investment strategy over an extended period of time. However, you should not draw any conclusions about a Fund's past or future investment performance from its current distribution rate.

•  Actual returns will differ from projected long-term returns (and therefore a Fund's distribution rate), at least over shorter time periods. Over a specific timeframe, the difference between actual returns and total distributions will be reflected in an increasing (returns exceed distributions) or a decreasing (distributions exceed returns) Fund net asset value.

•  Each distribution is expected to be paid from some or all of the following sources:

•  net investment income (regular interest and dividends),

•  realized capital gains, and

•  unrealized gains, or, in certain cases, a return of principal (non-taxable distributions).

•  A non-taxable distribution is a payment of a portion of a Fund's capital. When a Fund's returns exceed distributions, it may represent portfolio gains generated, but not realized as a taxable capital gain. In periods when a Fund's return falls short of distributions, the shortfall will represent a portion of your original principal, unless the shortfall is offset during other time periods over the life of your investment (previous or subsequent) when a Fund's total return exceeds distributions.

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7

•  Because distribution source estimates are updated during the year based on a Fund's performance and forecast for its current fiscal year (which is the calendar year for each Fund), estimates on the nature of your distributions provided at the time distributions are paid may differ from both the tax information reported to you in your Fund's IRS Form 1099 statement provided at year end, as well as the ultimate economic sources of distributions over the life of your investment.

The following table provides estimated information regarding each Fund's distributions and total return performance for the six months ended June 30, 2013. This information is provided on a tax basis rather than a generally accepted accounting principles (GAAP) basis. This information is intended to help you better understand whether the Funds' returns for the specified time period were sufficient to meet each Fund's distributions.

As of June 30, 2013	JPZ			JSN			JLA			JPG
Inception date		10/26/04			1/26/05			5/25/05			11/22/05
Six months ended June 30, 2013:
Per share distribution:
From net investment income	$	0.10		$	0.08		$	0.07		$	0.11
From realized capital gains		0.00			0.00			0.16			0.00
Return of capital		0.44			0.48			0.34			0.45
Total per share distribution	$	0.54		$	0.56		$	0.57		$	0.56
Annualized distribution rate on NAV		8.09	%		8.46	%		8.45	%		7.52	%
Average annual total returns:
6-Month (Cumulative) on NAV		5.82	%		5.92	%		5.49	%		7.69	%
1-Year on NAV		9.44	%		9.51	%		8.58	%		11.96	%
5-Year on NAV		4.69	%		4.31	%		4.90	%		5.15	%
Since inception on NAV		5.04	%		5.14	%		5.20	%		4.93	%

Share Repurchases

As of June 30, 2013, and since the inception of the Funds' repurchase programs, the Funds have cumulatively repurchased and retired their outstanding shares as shown in the accompanying table.

Fund	Shares Repurchased and Retired		% of Shares Authorized for Repurchase
JPZ		460,238		1.2	%
JSN		550,600		0.8	%
JLA		462,633		1.8	%
JPG		383,763		2.4	%

During the current reporting period, the Funds did not repurchase any of their outstanding shares.

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Other Share Information

As of June 30, 2013, and during the current reporting period, the Funds' share prices were trading at a premium/(discount) to their NAVs as shown in the accompanying table.

	JPZ			JSN			JLA			JPG
Share NAV	$	13.35		$	13.24		$	13.49		$	14.90
Share Price	$	12.57		$	12.35		$	12.34		$	13.80
Premium/(Discount) to NAV		(5.84	)%		(6.72	)%		(8.52	)%		(7.38	)%
6-Month Average Premium/(Discount) to NAV		(6.45	)%		(6.40	)%		(8.36	)%		(8.41	)%

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Risk Considerations

Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results. Fund common shares are subject to a variety of risks including:

Investment, Market and Price Risk. An investment in common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the corporate securities owned by the Funds, which generally trade in the over-the-counter markets. Shares of closed-end investment companies like the Funds frequently trade at a discount to NAV. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.

Tax Risk. The tax treatment of Fund distributions may be affected by new IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations. This is particularly true for funds employing a managed distribution program.

Common Stock Risk. Common stock returns often have experienced significant volatility.

Call Option Risk. The value of call options sold (written) by the Funds will fluctuate. The Funds may not participate in any appreciation of their equity portfolios as fully as they would if the Funds did not sell call options. In addition, the Funds will continue to bear the risk of declines in the value of their equity portfolio.

Index Call Option Risk. Because index options are settled in cash, sellers of index call options, such as the Funds, cannot provide in advance for their potential settlement obligations by acquiring and holding the underlying securities.

Derivatives Strategy Risk. Derivative securities, such as calls, puts, warrants, swaps and forwards, carry risks different from, and possibly greater than, the risks associated with the underlying investments.

Reinvestment Risk. If market interest rates decline, income earned from a Fund's portfolio may be reinvested at rates below that of the original bond that generated the income.

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Nuveen Equity Premium Income Fund (JPZ)

Performance Overview and Holding Summaries as of June 30, 2013

Average Annual Total Returns as of June 30, 2013

	Cumulative			Average Annual
	6-Month			1-Year			5-Year			Since Inception3
JPZ at NAV		5.82	%		9.44	%		4.69	%		5.04	%
JPZ at Share Price		10.84	%		13.23	%		6.70	%		4.35	%
S&P 500® Index		13.82	%		20.60	%		7.01	%		6.55	%

Past performance is not predictive of 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. Comparative index return information is provided for the Fund's shares at NAV only. Indexes are not available for direct investment.

Share Price Performance — Weekly Closing Price

Portfolio Allocation¹

(as a % of net assets)

Common Stocks	98.7	%
Short-Term Investments	5.3	%
Call Options Written	(2.1	)%
Other4	(1.9	)%

Portfolio Composition^1,2
(as a % of total investments)

Oil, Gas & Consumable Fuels	7.9	%
Pharmaceuticals	6.3	%
Diversified Financial Services	4.6	%
IT Services	3.8	%
Software	3.4	%
Diversified Telecommunication Services	3.2	%
Media	3.2	%
Computers & Peripherals	3.0	%
Commercial Banks	2.8	%
Beverages	2.7	%
Real Estate Investment Trust	2.6	%
Aerospace & Defense	2.5	%
Specialty Retail	2.5	%

Internet Software & Services	2.5	%
Industrial Conglomerates	2.4	%
Semiconductors & Equipment	2.2	%
Insurance	2.2	%
Chemicals	2.2	%
Communications Equipment	2.2	%
Energy Equipment & Services	2.1	%
Machinery	2.1	%
Tobacco	2.0	%
Capital Markets	2.0	%
Short-Term Investments	5.1	%
Other	24.5	%

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

1  Holdings are subject to change.

2  Excluding investments in derivatives.

3  Since inception returns are from 10/26/04.

4  Other assets less liabilities.

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Nuveen Equity Premium Opportunity Fund (JSN)

Performance Overview and Holding Summaries as of June 30, 2013

Average Annual Total Returns as of June 30, 2013

	Cumulative			Average Annual
	6-Month			1-Year			5-Year			Since Inception3
JSN at NAV		5.92	%		9.51	%		4.31	%		5.14	%
JSN at Share Price		6.95	%		13.42	%		6.01	%		4.31	%
JSN Blended Index (Comparative Index)		12.70	%		18.22	%		7.74	%		6.60	%

Past performance is not predictive of 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. Comparative index return information is provided for the Fund's shares at NAV only. Indexes are not available for direct investment.

Share Price Performance — Weekly Closing Price

Portfolio Allocation¹

(as a % of net assets)

Common Stocks	97.9	%
Short-Term Investments	6.0	%
Call Options Written	(2.0	)%
Other4	(1.9	)%

Portfolio Composition^1,2
(as a % of total investments)

Software	6.5	%
Computers & Peripherals	5.9	%
Oil, Gas & Consumable Fuels	5.3	%
Pharmaceuticals	5.0	%
Internet Software & Services	4.7	%
Communications Equipment	3.6	%
Media	3.5	%
IT Services	3.4	%
Semiconductors & Equipment	3.3	%
Diversified Financial Services	3.1	%
Biotechnology	2.9	%
Insurance	2.5	%
Specialty Retail	2.1	%

Commercial Banks	2.1	%
Health Care Providers & Services	2.1	%
Diversified Telecommunication Services	2.0	%
Internet & Catalog Retail	2.0	%
Aerospace & Defense	1.9	%
Beverages	1.9	%
Machinery	1.8	%
Household Products	1.7	%
Food & Staples Retailing	1.7	%
Energy Equipment & Services	1.6	%
Short-Term Investments	5.8	%
Other	23.6	%

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

1  Holdings are subject to change.

2  Excluding investments in derivatives.

3  Since inception returns are from 1/26/05.

4  Other assets less liabilities.

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Nuveen Equity Premium Advantage Fund (JLA)

Performance Overview and Holding Summaries as of June 30, 2013

Average Annual Total Returns as of June 30, 2013

	Cumulative			Average Annual
	6-Month			1-Year			5-Year			Since Inception3
JLA at NAV		5.49	%		8.58	%		4.90	%		5.20	%
JLA at Share Price		8.49	%		12.44	%		6.04	%		4.16	%
JLA Blended Index (Comparative Index)		11.58	%		15.87	%		8.42	%		7.21	%

Past performance is not predictive of 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. Comparative index return information is provided for the Fund's shares at NAV only. Indexes are not available for direct investment.

Share Price Performance — Weekly Closing Price

Portfolio Allocation¹

(as a % of net assets)

Common Stocks	98.6	%
Short-Term Investments	5.3	%
Call Options Written	(1.9	)%
Other4	(2.0	)%

Portfolio Composition^1,2
(as a % of total investments)

Software	9.7	%
Computers & Peripherals	7.5	%
Internet Software & Services	7.3	%
Semiconductors & Equipment	5.5	%
Media	4.9	%
Communications Equipment	4.8	%
Biotechnology	4.4	%
Oil, Gas & Consumable Fuels	4.1	%
Pharmaceuticals	3.9	%
IT Services	3.1	%

Internet & Catalog Retail	2.6	%
Health Care Providers & Services	2.5	%
Diversified Financial Services	2.3	%
Specialty Retail	1.8	%
Food & Staples Retailing	1.7	%
Electrical Equipment	1.7	%
Commercial Banks	1.7	%
Hotels, Restaurants & Leisure	1.6	%
Short-Term Investments	5.1	%
Other	23.8	%

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

1  Holdings are subject to change.

2  Excluding investments in derivatives.

3  Since inception returns are from 5/25/05.

4  Other assets less liabilities.

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Nuveen Equity Premium and Growth Fund (JPG)

Performance Overview and Holding Summaries as of June 30, 2013

Average Annual Total Returns as of June 30, 2013

	Cumulative			Average Annual
	6-Month			1-Year			5-Year			Since Inception3
JPG at NAV		7.69	%		11.96	%		5.15	%		4.93	%
JPG at Share Price		11.12	%		17.12	%		6.96	%		4.01	%
S&P 500® Index		13.82	%		20.60	%		7.01	%		5.45	%

Past performance is not predictive of 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. Comparative index return information is provided for the Fund's shares at NAV only. Indexes are not available for direct investment.

Share Price Performance — Weekly Closing Price

Portfolio Allocation¹

(as a % of net assets)

Common Stocks	98.3	%
Short-Term Investments	5.2	%
Call Options Written	(1.7	)%
Other4	(1.8	)%

Portfolio Composition^1,2
(as a % of total investments)

Oil, Gas & Consumable Fuels	8.5	%
Pharmaceuticals	6.1	%
Diversified Financial Services	4.6	%
Insurance	3.8	%
Software	3.7	%
IT Services	3.6	%
Computers & Peripherals	3.2	%
Diversified Telecommunication Services	3.1	%
Aerospace & Defense	2.7	%
Commercial Banks	2.7	%
Internet Software & Services	2.6	%
Specialty Retail	2.6	%

Media	2.5	%
Machinery	2.4	%
Health Care Providers & Services	2.4	%
Chemicals	2.4	%
Beverages	2.3	%
Semiconductors & Equipment	2.3	%
Communications Equipment	2.3	%
Real Estate Investment Trust	2.2	%
Household Products	2.1	%
Tobacco	2.1	%
Short-Term Investments	5.0	%
Other	24.8	%

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

1  Holdings are subject to change.

2  Excluding investments in derivatives.

3  Since inception returns are from 11/22/05.

4  Other assets less liabilities.

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JPZ
JSN

JLA

JPG

Shareholder Meeting Report

The annual meeting of shareholders was held in the offices of Nuveen Investments on April 3, 2013; at this meeting the shareholders were asked to vote on the election of Board Members.

	JPZ		JSN		JLA		JPG
	Common Shares		Common Shares		Common Shares		Common Shares
Approval of the Board Members was reached as follows:
William C. Hunter
For		33,506,869		57,566,929		23,181,576		14,985,693
Withhold		805,434		1,345,936		556,920		220,517
Total		34,312,303		58,912,865		23,738,496		15,206,210
Judith M. Stockdale
For		33,505,293		57,617,838		23,181,968		15,009,943
Withhold		807,010		1,295,027		556,528		196,267
Total		34,312,303		58,912,865		23,738,496		15,206,210
Carole E. Stone
For		33,432,348		57,559,605		23,195,696		14,994,097
Withhold		879,955		1,353,260		542,800		212,113
Total		34,312,303		58,912,865		23,738,496		15,206,210
Virginia L. Stringer
For		33,480,215		57,626,759		23,203,597		14,997,449
Withhold		832,088		1,286,106		534,899		208,761
Total		34,312,303		58,912,865		23,738,496		15,206,210

Nuveen Investments
15

JPZ

Nuveen Equity Premium Income Fund

Portfolio of Investments

  June 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Common Stocks – 98.7% (5)
		Aerospace & Defense – 2.6%
	44,366	Boeing Company	$	4,544,853
	44,474	Honeywell International Inc.		3,528,567
	32,905	Raytheon Company		2,175,679
	35,076	United Technologies Corporation		3,259,963
		Total Aerospace & Defense		13,509,062
		Air Freight & Logistics – 0.7%
	41,809	United Parcel Service, Inc., Class B		3,615,642
		Airlines – 0.0%
	3,957	United Continental Holdings Inc., (2)		123,815
		Auto Components – 0.2%
	30,296	Cooper Tire & Rubber		1,004,918
		Automobiles – 0.8%
	185,001	Ford Motor Company		2,861,965
	8,800	General Motors Company, (2)		293,128
	16,861	Harley-Davidson, Inc.		924,320
		Total Automobiles		4,079,413
		Beverages – 2.8%
	180,676	Coca-Cola Company		7,246,914
	14,723	Monster Beverage Corporation, (2)		894,717
	75,742	PepsiCo, Inc.		6,194,938
		Total Beverages		14,336,569
		Biotechnology – 1.8%
	40,799	Amgen Inc.		4,025,229
	22,699	Celgene Corporation, (2)		2,653,740
	47,374	Gilead Sciences, Inc., (2)		2,426,023
		Total Biotechnology		9,104,992
		Building Products – 0.2%
	42,748	Masco Corporation		833,159
		Capital Markets – 2.0%
	99,725	Charles Schwab Corporation		2,117,162
	20,622	Goldman Sachs Group, Inc.		3,119,078
	35,138	Legg Mason, Inc.		1,089,629
	100,638	Morgan Stanley		2,458,586
	38,635	Waddell & Reed Financial, Inc., Class A		1,680,623
		Total Capital Markets		10,465,078
		Chemicals – 2.3%
	48,008	Dow Chemical Company		1,544,417
	42,638	E.I. Du Pont de Nemours and Company		2,238,495

Nuveen Investments
16

Shares		Description (1)	Value
		Chemicals (continued)
	34,457	Eastman Chemical Company	$	2,412,335
	22,507	Monsanto Company		2,223,692
	53,293	Olin Corporation		1,274,769
	60,403	RPM International, Inc.		1,929,272
		Total Chemicals		11,622,980
		Commercial Banks – 2.9%
	33,724	Comerica Incorporated		1,343,227
	16,998	HSBC Holdings PLC, Sponsored ADR		882,196
	17,184	PNC Financial Services Group, Inc.		1,253,057
	95,133	U.S. Bancorp		3,439,058
	196,464	Wells Fargo & Company		8,108,069
		Total Commercial Banks		15,025,607
		Commercial Services & Supplies – 0.5%
	3,177	Avery Dennison Corporation		135,849
	3,549	Deluxe Corporation		122,973
	40,642	Pitney Bowes Inc.		596,625
	16,031	R.R. Donnelley & Sons Company		224,594
	35,497	Waste Management, Inc.		1,431,594
		Total Commercial Services & Supplies		2,511,635
		Communications Equipment – 2.3%
	14,156	ADTRAN, Inc.		348,379
	3,408	Ciena Corporation, (2)		66,183
	222,389	Cisco Systems, Inc.		5,406,277
	11,034	JDS Uniphase Corporation, (2)		158,669
	21,303	Motorola Solutions Inc.		1,229,822
	71,809	QUALCOMM, Inc.		4,386,094
		Total Communications Equipment		11,595,424
		Computers & Peripherals – 3.2%
	32,229	Apple, Inc.		12,765,262
	67,332	Dell Inc.		898,882
	108,453	EMC Corporation		2,561,660
		Total Computers & Peripherals		16,225,804
		Consumer Finance – 0.6%
	23,246	American Express Company		1,737,871
	32,690	Discover Financial Services		1,557,352
		Total Consumer Finance		3,295,223
		Containers & Packaging – 0.4%
	37,972	Packaging Corp. of America		1,859,109
	5,718	Sonoco Products Company		197,671
		Total Containers & Packaging		2,056,780
		Distributors – 0.4%
	29,044	Genuine Parts Company		2,267,465
		Diversified Consumer Services – 0.0%
	7,623	Apollo Group, Inc., Class A, (2)		135,080
		Diversified Financial Services – 4.8%
	414,679	Bank of America Corporation		5,332,772
	112,577	Citigroup Inc.		5,400,319
	33,950	CME Group, Inc.		2,579,521

Nuveen Investments
17

JPZ

Nuveen Equity Premium Income Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Diversified Financial Services (continued)
	163,114	JPMorgan Chase & Co.	$	8,610,788
	39,312	Leucadia National Corporation		1,030,761
	40,722	New York Stock Exchange Euronext		1,685,891
		Total Diversified Financial Services		24,640,052
		Diversified Telecommunication Services – 3.3%
	248,747	AT&T Inc.		8,805,644
	24,804	CenturyLink Inc.		876,821
	250,097	Frontier Communications Corporation		1,012,893
	123,469	Verizon Communications Inc.		6,215,429
	18,198	Windstream Corporation		140,307
		Total Diversified Telecommunication Services		17,051,094
		Electric Utilities – 1.6%
	55,280	Duke Energy Corporation		3,731,400
	27,323	Great Plains Energy Incorporated		615,860
	19,046	OGE Energy Corp.		1,298,937
	80,800	Pepco Holdings, Inc.		1,628,928
	20,004	Southern Company		882,777
		Total Electric Utilities		8,157,902
		Electrical Equipment – 0.5%
	28,305	Emerson Electric Company		1,543,755
	14,553	Rockwell Automation, Inc.		1,209,936
		Total Electrical Equipment		2,753,691
		Electronic Equipment & Instruments – 0.3%
	118,215	Corning Incorporated		1,682,199
		Energy Equipment & Services – 2.1%
	6,964	Diamond Offshore Drilling, Inc.		479,054
	18,452	Ensco International PLC, Class A, Sponsored ADR		1,072,430
	79,215	Halliburton Company		3,304,850
	16,059	Patterson-UTI Energy, Inc.		310,822
	68,690	Schlumberger Limited		4,922,325
	16,157	Tidewater Inc.		920,464
		Total Energy Equipment & Services		11,009,945
		Food & Staples Retailing – 1.4%
	39,079	CVS Caremark Corporation		2,234,537
	38,696	SUPERVALU INC., (2)		240,689
	59,540	Wal-Mart Stores, Inc.		4,435,135
		Total Food & Staples Retailing		6,910,361
		Food Products – 1.0%
	37,375	Kraft Foods Inc., Class A		2,088,141
	112,127	Mondelez International Inc.		3,198,983
		Total Food Products		5,287,124
		Gas Utilities – 1.0%
	36,031	AGL Resources Inc.		1,544,289
	12,516	Atmos Energy Corporation		513,907
	22,995	National Fuel Gas Company		1,332,560
	38,518	ONEOK, Inc.		1,591,179
		Total Gas Utilities		4,981,935

Nuveen Investments
18

Shares		Description (1)	Value
		Health Care Equipment & Supplies – 1.6%
	72,041	Abbott Laboratories	$	2,512,790
	4,460	Hologic Inc., (2)		86,078
	3,342	Intuitive Surgical, Inc., (2)		1,692,990
	78,706	Medtronic, Inc.		4,050,998
		Total Health Care Equipment & Supplies		8,342,856
		Health Care Providers & Services – 2.0%
	6,002	Aetna Inc.		381,367
	6,901	Brookdale Senior Living Inc., (2)		182,462
	33,153	Express Scripts, (2)		2,045,209
	13,578	HCA Holdings Inc.		489,623
	1,116	Henry Schein Inc., (2)		106,857
	39,267	Kindred Healthcare Inc., (2)		515,576
	71,299	UnitedHealth Group Incorporated		4,668,658
	25,221	Wellpoint Inc.		2,064,087
		Total Health Care Providers & Services		10,453,839
		Health Care Technology – 0.0%
	114	Cerner Corporation, (2)		10,954
		Hotels, Restaurants & Leisure – 1.3%
	22,200	Carnival Corporation		761,238
	42,761	International Game Technology		714,536
	2,272	Interval Leisure Group Inc.		45,258
	53,750	McDonald's Corporation		5,321,250
		Total Hotels, Restaurants & Leisure		6,842,282
		Household Durables – 0.8%
	2,990	Garmin Limited		108,118
	64,653	Newell Rubbermaid Inc.		1,697,141
	13,864	Tupperware Corporation		1,077,094
	11,356	Whirlpool Corporation		1,298,672
		Total Household Durables		4,181,025
		Household Products – 1.9%
	29,756	Colgate-Palmolive Company		1,704,721
	11,711	Kimberly-Clark Corporation		1,137,607
	90,419	Procter & Gamble Company		6,961,359
		Total Household Products		9,803,687
		Industrial Conglomerates – 2.5%
	38,964	3M Co.		4,260,713
	367,915	General Electric Company		8,531,949
	57	Siemens AG, Sponsored ADR		5,775
		Total Industrial Conglomerates		12,798,437
		Insurance – 2.3%
	47,749	Allstate Corporation		2,297,682
	8,871	Arthur J. Gallagher & Co.		387,574
	36,694	Fidelity National Title Group Inc., Class A		873,684
	20,464	Hartford Financial Services Group, Inc.		632,747
	13,665	Kemper Corporation		468,026
	44,881	Lincoln National Corporation		1,636,810
	63,707	Marsh & McLennan Companies, Inc.		2,543,183
	35,546	Travelers Companies, Inc.		2,840,836
		Total Insurance		11,680,542

Nuveen Investments
19

JPZ

Nuveen Equity Premium Income Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Internet & Catalog Retail – 1.3%
	14,883	Amazon.com, Inc., (2)	$	4,132,860
	3,103	HSN, Inc.		166,693
	2,786	Priceline.com Incorporated, (2)		2,304,384
		Total Internet & Catalog Retail		6,603,937
		Internet Software & Services – 2.6%
	10,937	Akamai Technologies, Inc., (2)		465,369
	49,259	eBay Inc., (2)		2,547,675
	8,710	Google Inc., Class A, (2)		7,668,023
	44,605	United Online, Inc.		338,106
	5,616	ValueClick, Inc., (2)		138,603
	10,002	VeriSign, Inc., (2)		446,689
	71,826	Yahoo! Inc., (2)		1,803,551
		Total Internet Software & Services		13,408,016
		IT Services – 4.0%
	1,600	Alliance Data Systems Corporation, (2)		289,648
	34,359	Automatic Data Processing, Inc.		2,365,961
	17,199	Cognizant Technology Solutions Corporation, Class A, (2)		1,076,829
	32,696	Fidelity National Information Services		1,400,697
	38,580	International Business Machines Corporation (IBM)		7,373,024
	3,197	Lender Processing Services Inc.		103,423
	5,819	MasterCard, Inc.		3,343,015
	42,671	Paychex, Inc.		1,558,345
	16,519	Visa Inc., Class A		3,018,847
		Total IT Services		20,529,789
		Leisure Equipment & Products – 0.4%
	19,609	Polaris Industries Inc.		1,862,855
		Machinery – 2.1%
	15,616	Caterpillar Inc.		1,288,164
	15,272	Cummins Inc.		1,656,401
	20,884	Deere & Company		1,696,825
	13,600	Graco Inc.		859,656
	13,107	Ingersoll Rand Company Limited, Class A		727,701
	16,893	Parker Hannifin Corporation		1,611,592
	11,767	Snap-on Incorporated		1,051,734
	5,979	SPX Corporation		430,368
	12,948	Stanley Black & Decker Inc.		1,000,880
	12,000	Timken Company		675,360
		Total Machinery		10,998,681
		Media – 3.3%
	44,936	CBS Corporation, Class B		2,196,022
	114,249	Comcast Corporation, Class A		4,784,748
	6,400	DISH Network Corp, Class A		272,128
	39,613	New York Times, Class A, (2)		438,120
	8,100	News Corporation, Class B		265,842
	35,396	Omnicom Group, Inc.		2,225,347
	114,479	Regal Entertainment Group, Class A		2,049,174
	73,604	Walt Disney Company		4,648,093
		Total Media		16,879,474
		Metals & Mining – 0.7%
	88,284	Alcoa Inc.		690,381
	29,074	Freeport-McMoRan Copper & Gold, Inc.		802,733
	6,726	Newmont Mining Corporation		201,444

Nuveen Investments
20

Shares		Description (1)	Value
		Metals & Mining (continued)
	24,595	Nucor Corporation	$	1,065,455
	32,749	Southern Copper Corporation		904,527
		Total Metals & Mining		3,664,540
		Multiline Retail – 1.2%
	4,000	Family Dollar Stores, Inc.		249,240
	36,680	Macy's, Inc.		1,760,640
	25,718	Nordstrom, Inc.		1,541,537
	8,076	Sears Holding Corporation, (2)		339,838
	30,023	Target Corporation		2,067,384
		Total Multiline Retail		5,958,639
		Multi-Utilities – 1.4%
	40,212	Ameren Corporation		1,384,901
	22,660	Consolidated Edison, Inc.		1,321,305
	30,824	Integrys Energy Group, Inc.		1,804,129
	15,734	Northwestern Corporation		627,787
	60,347	Public Service Enterprise Group Incorporated		1,970,933
		Total Multi-Utilities		7,109,055
		Oil, Gas & Consumable Fuels – 8.2%
	9,051	Cenovus Energy Inc.		258,135
	75,513	Chevron Corporation		8,936,208
	59,011	ConocoPhillips		3,570,166
	39,168	CONSOL Energy Inc.		1,061,453
	22,581	Continental Resources Inc., (2)		1,943,321
	16,151	EnCana Corporation		273,598
	20,469	EOG Resources, Inc.		2,695,358
	170,355	Exxon Mobil Corporation		15,391,574
	36,332	Occidental Petroleum Corporation		3,241,904
	38,405	Phillips 66		2,262,439
	4,626	Total SA, Sponsored ADR		225,286
	69,748	Valero Energy Corporation		2,425,138
		Total Oil, Gas & Consumable Fuels		42,284,580
		Pharmaceuticals – 6.6%
	72,041	AbbVie Inc.		2,978,175
	111,190	Bristol-Myers Squibb Company		4,969,081
	41,183	Eli Lilly and Company		2,022,909
	116,804	Johnson & Johnson		10,028,791
	132,433	Merck & Company Inc.		6,151,513
	270,678	Pfizer Inc.		7,581,691
		Total Pharmaceuticals		33,732,160
		Professional Services – 0.1%
	3,665	Manpower Inc.		200,842
	6,949	Resources Connection, Inc.		80,608
		Total Professional Services		281,450
		Real Estate Investment Trust – 2.8%
	96,573	Annaly Capital Management Inc.		1,213,923
	39,521	Brandywine Realty Trust		534,324
	44,183	CapLease Inc.		372,905
	25,456	CommonWealth REIT		588,543
	55,131	CubeSmart		880,993
	15,432	Health Care REIT, Inc.		1,034,407
	47,225	Healthcare Realty Trust, Inc.		1,204,238

Nuveen Investments
21

JPZ

Nuveen Equity Premium Income Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Real Estate Investment Trust (continued)
	45,684	Hospitality Properties Trust	$	1,200,576
	88,469	Lexington Corporate Properties Trust		1,033,318
	27,077	Liberty Property Trust		1,000,766
	17,263	Medical Properties Trust Inc.		247,206
	28,311	MFA Mortgage Investments, Inc.		239,228
	26,716	Senior Housing Properties Trust		692,746
	11,215	Sun Communities Inc.		558,058
	25,238	Ventas Inc.		1,753,031
	54,475	Weyerhaeuser Company		1,551,993
		Total Real Estate Investment Trust		14,106,255
		Road & Rail – 1.0%
	17,765	Norfolk Southern Corporation		1,290,627
	24,329	Union Pacific Corporation		3,753,478
		Total Road & Rail		5,044,105
		Semiconductors & Equipment – 2.3%
	25,275	Analog Devices, Inc.		1,138,892
	96,369	Applied Materials, Inc.		1,436,862
	21,444	Broadcom Corporation, Class A		723,949
	213,873	Intel Corporation		5,180,004
	12,846	Intersil Holding Corporation, Class A		100,456
	3,087	Lam Research Corporation, (2)		136,878
	24,776	Microchip Technology Incorporated		922,906
	27,856	NVIDIA Corporation		390,820
	51,579	Texas Instruments Incorporated		1,798,560
		Total Semiconductors & Equipment		11,829,327
		Software – 3.5%
	23,572	Adobe Systems Incorporated, (2)		1,073,940
	18,599	Autodesk, Inc., (2)		631,250
	304,276	Microsoft Corporation		10,506,650
	146,688	Oracle Corporation		4,506,255
	37,900	Salesforce.com, Inc., (2)		1,447,022
		Total Software		18,165,117
		Specialty Retail – 2.6%
	18,330	Abercrombie & Fitch Co., Class A		829,433
	41,497	American Eagle Outfitters, Inc.		757,735
	21,475	Best Buy Co., Inc.		586,912
	7,749	CST Brands Inc., (2)		238,747
	50,218	Home Depot, Inc.		3,890,388
	36,675	Limited Brands Inc.		1,806,244
	71,238	Lowe's Companies, Inc.		2,913,634
	472	Ross Stores, Inc.		30,590
	13,465	Tiffany & Co.		980,791
	28,637	TJX Companies, Inc.		1,433,568
		Total Specialty Retail		13,468,042
		Textiles, Apparel & Luxury Goods – 0.2%
	7,159	Cherokee Inc.		91,492
	3,766	VF Corporation		727,064
		Total Textiles, Apparel & Luxury Goods		818,556

Nuveen Investments
22

Shares		Description (1)	Value
		Thrifts & Mortgage Finance – 0.2%
	36,703	Hudson City Bancorp, Inc.	$	336,199
	60,610	New York Community Bancorp Inc.		848,540
		Total Thrifts & Mortgage Finance		1,184,739
		Tobacco – 2.1%
	97,022	Altria Group, Inc.		3,394,800
	69,806	Philip Morris International		6,046,596
	20,787	Reynolds American Inc.		1,005,467
	5,109	Vector Group Ltd.		82,868
		Total Tobacco		10,529,731
		Wireless Telecommunication Services – 0.0%
	5,500	USA Mobility Inc.		74,635
		Total Common Stocks (cost $348,158,368)		506,930,254

Principal Amount (000)		Description (1)	Coupon			Maturity	Value
		Short-Term Investments – 5.3%
$	27,177	Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/28/13, repurchase price $27,177,065, collateralized by $28,215,000 U.S. Treasury Notes, 1.000%, due 5/31/18, value $27,721,238		0.010	%	7/01/13	$	27,177,042
		Total Short-Term Investments (cost $27,177,042)						27,177,042
		Total Investments (cost $375,335,410) – 104.0%						534,107,296
		Other Assets Less Liabilities – (4.0)% (3)						(20,481,835	)
		Net Assets – 100%					$	513,625,461

Investments in Derivatives as of June 30, 2013

Call Options Written outstanding:

Number of Contracts			Type	Notional Amount (4)			Expiration Date	Strike Price		Value (3)
	(426	)	S&P 500® Index	$	(66,030,000	)	7/20/13	$	1,550	$	(2,643,330	)
	(382	)	S&P 500® Index		(60,165,000	)	7/20/13		1575		(1,615,860	)
	(685	)	S&P 500® Index		(109,600,000	)	7/20/13		1600		(1,743,325	)
	(750	)	S&P 500® Index		(121,875,000	)	7/20/13		1625		(933,750	)
	(285	)	S&P 500® Index		(44,887,500	)	8/17/13		1575		(1,541,850	)
	(602	)	S&P 500® Index		(96,320,000	)	8/17/13		1600		(2,269,540	)
	(3,130	)	Total Call Options Written (premiums received $12,322,155)	$	(498,877,500	)				$	(10,747,655	)

    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 shown 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 listed within Investments in Derivatives as of the end of the reporting period.

  (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.

    See accompanying notes to financial statements.

Nuveen Investments
23

JSN

Nuveen Equity Premium Opportunity Fund

Portfolio of Investments

  June 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Common Stocks – 97.9% (5)
		Aerospace & Defense – 2.0%
	37,352	Boeing Company	$	3,826,339
	48,538	Honeywell International Inc.		3,851,005
	8,874	Huntington Ingalls Industries Inc.		501,204
	17,575	Lockheed Martin Corporation		1,906,185
	31,240	Northrop Grumman Corporation		2,586,672
	32,796	Raytheon Company		2,168,472
	31,622	United Technologies Corporation		2,938,949
		Total Aerospace & Defense		17,778,826
		Air Freight & Logistics – 0.8%
	82,888	United Parcel Service, Inc., Class B		7,168,154
		Auto Components – 0.2%
	60,739	Gentex Corporation		1,400,034
		Automobiles – 0.6%
	213,263	Ford Motor Company		3,299,179
	33,442	Harley-Davidson, Inc.		1,833,290
		Total Automobiles		5,132,469
		Beverages – 1.9%
	235,730	Coca-Cola Company		9,455,130
	28,504	Monster Beverage Corporation, (2)		1,732,188
	71,558	PepsiCo, Inc.		5,852,729
		Total Beverages		17,040,047
		Biotechnology – 3.0%
	48,142	Amgen Inc.		4,749,690
	81,056	Celgene Corporation, (2)		9,476,257
	236,655	Gilead Sciences, Inc., (2)		12,119,103
		Total Biotechnology		26,345,050
		Capital Markets – 1.6%
	129,710	Charles Schwab Corporation		2,753,743
	48,725	Eaton Vance Corporation		1,831,573
	20,275	Goldman Sachs Group, Inc.		3,066,594
	43,099	Legg Mason, Inc.		1,336,500
	101,241	Morgan Stanley		2,473,318
	61,497	Waddell & Reed Financial, Inc., Class A		2,675,119
		Total Capital Markets		14,136,847
		Chemicals – 1.4%
	35,894	Dow Chemical Company		1,154,710
	26,873	E.I. Du Pont de Nemours and Company		1,410,833
	61,739	Eastman Chemical Company		4,322,347
	37,024	Monsanto Company		3,657,971
	10,878	Potash Corporation of Saskatchewan		414,778

Nuveen Investments
24

Shares		Description (1)	Value
		Chemicals (continued)
	33,218	RPM International, Inc.	$	1,060,983
		Total Chemicals		12,021,622
		Commercial Banks – 2.2%
	71,851	Fifth Third Bancorp.		1,296,911
	86,613	First Horizon National Corporation		970,066
	143	HSBC Holdings PLC, Sponsored ADR		7,422
	6	Lloyds TSB Group PLC, Sponsored ADR, (2)		23
	174,188	U.S. Bancorp		6,296,896
	267,373	Wells Fargo & Company		11,034,484
		Total Commercial Banks		19,605,802
		Commercial Services & Supplies – 0.4%
	23,371	Deluxe Corporation		809,805
	49,936	R.R. Donnelley & Sons Company		699,603
	53,708	Waste Management, Inc.		2,166,044
		Total Commercial Services & Supplies		3,675,452
		Communications Equipment – 3.8%
	45,063	ADTRAN, Inc.		1,109,000
	13,861	Aviat Networks Inc., (2)		36,316
	630,518	Cisco Systems, Inc.		15,327,893
	19,247	Harris Corporation		947,915
	14,940	Motorola Solutions Inc.		862,486
	244,139	QUALCOMM, Inc.		14,912,010
		Total Communications Equipment		33,195,620
		Computers & Peripherals – 6.1%
	106,907	Apple, Inc.		42,343,725
	211,358	Dell Inc.		2,821,629
	157,114	EMC Corporation		3,711,033
	114,325	Hewlett-Packard Company		2,835,260
	65,269	NetApp, Inc.		2,465,863
		Total Computers & Peripherals		54,177,510
		Consumer Finance – 0.9%
	51,885	American Express Company		3,878,923
	55,844	Discover Financial Services		2,660,408
	77,393	SLM Corporation		1,769,204
		Total Consumer Finance		8,308,535
		Containers & Packaging – 0.5%
	59,259	Packaging Corp. of America		2,901,321
	50,628	Sonoco Products Company		1,750,210
		Total Containers & Packaging		4,651,531
		Distributors – 0.3%
	31,204	Genuine Parts Company		2,436,096
		Diversified Consumer Services – 0.1%
	35,953	Hillenbrand Inc.		852,446
		Diversified Financial Services – 3.2%
	600,967	Bank of America Corporation		7,728,436
	122,510	Citigroup Inc.		5,876,805
	53,445	CME Group, Inc.		4,060,751
	3,691	ING Groep N.V., Sponsored ADR, (2)		33,551

Nuveen Investments
25

JSN

Nuveen Equity Premium Opportunity Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Diversified Financial Services (continued)
	201,985	JPMorgan Chase & Co.	$	10,662,788
		Total Diversified Financial Services		28,362,331
		Diversified Telecommunication Services – 2.1%
	263,253	AT&T Inc.		9,319,156
	93,521	Frontier Communications Corporation		378,760
	174,210	Verizon Communications Inc.		8,769,731
		Total Diversified Telecommunication Services		18,467,647
		Electric Utilities – 1.7%
	43,811	Companhia Energetica de Minas Gerais, Sponsored ADR		392,985
	62,044	Duke Energy Corporation		4,187,970
	112,676	Great Plains Energy Incorporated		2,539,717
	50,368	OGE Energy Corp.		3,435,098
	129,707	Pepco Holdings, Inc.		2,614,893
	25,438	Pinnacle West Capital Corporation		1,411,046
		Total Electric Utilities		14,581,709
		Electrical Equipment – 1.5%
	14,520	Eaton PLC		955,561
	51,549	Emerson Electric Company		2,811,482
	11,240	Hubbell Incorporated, Class B		1,112,760
	31,575	Rockwell Automation, Inc.		2,625,145
	42,974	Roper Industries Inc.		5,338,230
		Total Electrical Equipment		12,843,178
		Electronic Equipment & Instruments – 0.1%
	88,036	Corning Incorporated		1,252,752
		Energy Equipment & Services – 1.7%
	25,308	Diamond Offshore Drilling, Inc.		1,740,937
	36,079	Ensco International PLC, Class A, Sponsored ADR		2,096,911
	90,607	Halliburton Company		3,780,124
	54,107	Patterson-UTI Energy, Inc.		1,047,241
	75,828	Schlumberger Limited		5,433,834
	17,510	Tidewater Inc.		997,545
		Total Energy Equipment & Services		15,096,592
		Food & Staples Retailing – 1.8%
	93,299	CVS Caremark Corporation		5,334,837
	82,219	Kroger Co.		2,839,844
	38,974	SUPERVALU INC., (2)		242,418
	62,176	Walgreen Co.		2,748,179
	57,835	Wal-Mart Stores, Inc.		4,308,129
		Total Food & Staples Retailing		15,473,407
		Food Products – 0.8%
	49,868	Kraft Foods Inc., Class A		2,786,125
	149,606	Mondelez International Inc.		4,268,259
		Total Food Products		7,054,384
		Gas Utilities – 0.9%
	34,085	Atmos Energy Corporation		1,399,530
	41,373	National Fuel Gas Company		2,397,565
	99,610	ONEOK, Inc.		4,114,889
		Total Gas Utilities		7,911,984

Nuveen Investments
26

Shares		Description (1)	Value
		Health Care Equipment & Supplies – 1.7%
	91,444	Abbott Laboratories	$	3,189,567
	68,517	Baxter International, Inc.		4,746,173
	36,821	Hill Rom Holdings Inc.		1,240,131
	97,109	Hologic Inc., (2)		1,874,204
	69,279	Medtronic, Inc.		3,565,790
		Total Health Care Equipment & Supplies		14,615,865
		Health Care Providers & Services – 2.2%
	52,702	Aetna Inc.		3,348,685
	62,293	Brookdale Senior Living Inc., (2)		1,647,027
	106,974	Express Scripts, (2)		6,599,226
	75,497	UnitedHealth Group Incorporated		4,943,544
	37,032	Wellpoint Inc.		3,030,699
		Total Health Care Providers & Services		19,569,181
		Hotels, Restaurants & Leisure – 1.3%
	51,390	International Game Technology		858,727
	8,487	Las Vegas Sands		449,217
	63,671	McDonald's Corporation		6,303,429
	21,179	Starwood Hotels & Resorts Worldwide, Inc.		1,338,301
	23,029	Wynn Resorts Ltd		2,947,712
		Total Hotels, Restaurants & Leisure		11,897,386
		Household Durables – 0.6%
	68,264	KB Home		1,340,022
	54,753	Newell Rubbermaid Inc.		1,437,266
	19,851	Whirlpool Corporation		2,270,160
		Total Household Durables		5,047,448
		Household Products – 1.8%
	83,232	Colgate-Palmolive Company		4,768,361
	139,512	Procter & Gamble Company		10,741,029
		Total Household Products		15,509,390
		Industrial Conglomerates – 1.7%
	21,774	3M Co.		2,380,987
	540,880	General Electric Company		12,543,007
		Total Industrial Conglomerates		14,923,994
		Insurance – 2.6%
	59,372	Allstate Corporation		2,856,981
	23,207	American International Group		1,037,353
	26,066	Arthur J. Gallagher & Co.		1,138,824
	82,207	Berkshire Hathaway Inc., Class B, (2)		9,200,607
	92,800	CNO Financial Group Inc.		1,202,688
	65,958	Genworth Financial Inc., Class A, (2)		752,581
	23,657	Hartford Financial Services Group, Inc.		731,474
	13,952	Kemper Corporation		477,856
	35,717	Lincoln National Corporation		1,302,599
	103,489	Marsh & McLennan Companies, Inc.		4,131,281
		Total Insurance		22,832,244
		Internet & Catalog Retail – 2.1%
	51,843	Amazon.com, Inc., (2)		14,396,283
	27,170	HSN, Inc.		1,459,572
	2,747	Priceline.com Incorporated, (2)		2,272,126
		Total Internet & Catalog Retail		18,127,981

Nuveen Investments
27

JSN

Nuveen Equity Premium Opportunity Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Internet Software & Services – 4.9%
	39,603	Akamai Technologies, Inc., (2)	$	1,685,108
	58,343	Earthlink, Inc.		362,310
	194,369	eBay Inc., (2)		10,052,765
	30,939	Google Inc., Class A, (2)		27,237,767
	22,576	IAC/InterActiveCorp.		1,073,715
	59,649	VeriSign, Inc., (2)		2,663,924
		Total Internet Software & Services		43,075,589
		IT Services – 3.6%
	117,025	Automatic Data Processing, Inc.		8,058,341
	61,069	Fidelity National Information Services		2,616,196
	54,830	International Business Machines Corporation (IBM)		10,478,561
	14,762	Lender Processing Services Inc.		477,551
	108,876	Paychex, Inc.		3,976,152
	32,522	Visa Inc., Class A		5,943,395
		Total IT Services		31,550,196
		Leisure Equipment & Products – 0.7%
	70,638	Mattel, Inc.		3,200,608
	29,666	Polaris Industries Inc.		2,818,270
		Total Leisure Equipment & Products		6,018,878
		Machinery – 1.9%
	36,452	Caterpillar Inc.		3,006,925
	18,970	Deere & Company		1,541,313
	43,913	Graco Inc.		2,775,741
	23,133	Joy Global Inc.		1,122,644
	27,707	SPX Corporation		1,994,350
	40,513	Stanley Black & Decker Inc.		3,131,655
	50,568	Timken Company		2,845,967
		Total Machinery		16,418,595
		Media – 3.6%
	310,268	Comcast Corporation, Special Class A		12,308,332
	97,817	New York Times, Class A, (2)		1,081,856
	300,675	News Corporation, Class A		9,802,005
	58,689	Omnicom Group, Inc.		3,689,777
	82,498	Regal Entertainment Group, Class A		1,476,714
	60,260	Walt Disney Company		3,805,419
		Total Media		32,164,103
		Metals & Mining – 0.6%
	268,308	Alcoa Inc.		2,098,169
	20,083	Barrick Gold Corporation		316,106
	53,761	Freeport-McMoRan Copper & Gold, Inc.		1,484,341
	148,596	Hecla Mining Company		442,816
	28,154	Southern Copper Corporation		777,613
		Total Metals & Mining		5,119,045
		Multiline Retail – 1.0%
	52,643	Macy's, Inc.		2,526,864
	44,360	Nordstrom, Inc.		2,658,938
	21,415	Sears Holding Corporation, (2)		901,143
	37,279	Target Corporation		2,567,032
		Total Multiline Retail		8,653,977

Nuveen Investments
28

Shares		Description (1)	Value
		Multi-Utilities – 0.6%
	62,041	Ameren Corporation	$	2,136,692
	97,043	Public Service Enterprise Group Incorporated		3,169,424
		Total Multi-Utilities		5,306,116
		Oil, Gas & Consumable Fuels – 5.5%
	97,595	Chevron Corporation		11,549,392
	2,747	CNOOC Limited, Sponsored ADR		460,068
	81,203	ConocoPhillips		4,912,781
	211,742	Exxon Mobil Corporation		19,130,890
	27,119	Hess Corporation		1,803,142
	51,327	Occidental Petroleum Corporation		4,579,908
	3,274	PetroChina Company Limited, Sponsored ADR		362,334
	54,850	Phillips 66		3,231,213
	122,639	SandRidge Energy Inc., (2)		583,762
	39,133	StatoilHydro ASA, Sponsored ADR		809,662
	23,753	Suncor Energy, Inc.		700,476
		Total Oil, Gas & Consumable Fuels		48,123,628
		Pharmaceuticals – 5.2%
	91,444	AbbVie Inc.		3,780,295
	151,837	Bristol-Myers Squibb Company		6,785,596
	106,819	Eli Lilly and Company		5,246,949
	1,112	GlaxoSmithKline PLC, Sponsored ADR		55,567
	137,675	Johnson & Johnson		11,820,776
	200,466	Merck & Company Inc.		9,311,646
	308,024	Pfizer Inc.		8,627,752
		Total Pharmaceuticals		45,628,581
		Professional Services – 0.2%
	29,079	Manpower Inc.		1,593,529
	18,692	Resources Connection, Inc.		216,827
		Total Professional Services		1,810,356
		Real Estate Investment Trust – 1.4%
	60,679	Apartment Investment & Management Company, Class A		1,822,797
	69,975	Brandywine Realty Trust		946,062
	34,687	CBL & Associates Properties Inc.		742,996
	129,993	CubeSmart		2,077,288
	114,294	DCT Industrial Trust Inc.		817,202
	43,378	Health Care REIT, Inc.		2,907,627
	79,809	Lexington Corporate Properties Trust		932,169
	46,608	Liberty Property Trust		1,722,632
	8,511	Ventas Inc.		591,174
		Total Real Estate Investment Trust		12,559,947
		Road & Rail – 0.7%
	41,968	Union Pacific Corporation		6,474,823
		Semiconductors & Equipment – 3.4%
	98,918	Altera Corporation		3,263,305
	64,144	Analog Devices, Inc.		2,890,329
	107,440	Broadcom Corporation, Class A		3,627,174
	699,018	Intel Corporation		16,930,216
	26,060	Intersil Holding Corporation, Class A		203,789
	81,111	Linear Technology Corporation		2,988,129
		Total Semiconductors & Equipment		29,902,942

Nuveen Investments
29

JSN

Nuveen Equity Premium Opportunity Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Software – 6.7%
	154,461	Activision Blizzard Inc.	$	2,202,614
	134,980	Adobe Systems Incorporated, (2)		6,149,689
	79,219	Autodesk, Inc., (2)		2,688,693
	920,600	Microsoft Corporation		31,788,318
	533,031	Oracle Corporation		16,374,712
		Total Software		59,204,026
		Specialty Retail – 2.2%
	20,823	Abercrombie & Fitch Co., Class A		942,241
	59,432	American Eagle Outfitters, Inc.		1,085,228
	51,495	Best Buy Co., Inc.		1,407,358
	58,779	CarMax, Inc., (2)		2,713,239
	73,397	Gap, Inc.		3,062,857
	38,435	Home Depot, Inc.		2,977,559
	58,013	Limited Brands Inc.		2,857,140
	111,815	Lowe's Companies, Inc.		4,573,233
		Total Specialty Retail		19,618,855
		Thrifts & Mortgage Finance – 0.1%
	40,800	MGIC Investment Corporation, (2)		247,656
	56,714	New York Community Bancorp Inc.		793,996
		Total Thrifts & Mortgage Finance		1,041,652
		Tobacco – 1.6%
	72,934	Altria Group, Inc.		2,551,961
	111,624	Philip Morris International		9,668,871
	36,132	Reynolds American Inc.		1,747,705
		Total Tobacco		13,968,537
		Wireless Telecommunication Services – 0.4%
	4,018	China Mobile Limited, Sponsored ADR		208,012
	444,739	Sprint Nextel Corporation, (2)		3,122,068
		Total Wireless Telecommunication Services		3,330,080
		Total Common Stocks (cost $558,153,682)		861,463,440

Principal Amount (000)		Description (1)	Coupon			Maturity	Value
		Short-Term Investments – 6.0%
$	53,080	Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/28/13, repurchase price $53,080,044, collateralized by $53,280,000 U.S. Treasury Notes, 1.750%, due 10/31/18, value $54,145,800		0.010	%	7/01/13	$	53,080,000
		Total Short-Term Investments (cost $53,080,000)						53,080,000
		Total Investments (cost $611,233,682) – 103.9%						914,543,440
		Other Assets Less Liabilities – (3.9)% (3)						(34,568,097	)
		Net Assets – 100%					$	879,975,343

Nuveen Investments
30

Investments in Derivatives as of June 30, 2013

Call Options Written outstanding:

Number of Contracts			Type	Notional Amount (4)			Expiration Date	Strike Price		Value (3)
	(919	)	MINI-NASDAQ-100 Index	$	(26,191,500	)	7/20/13	$	285.0	$	(732,902	)
	(921	)	MINI-NASDAQ-100 Index		(26,478,750	)	7/20/13		287.5		(557,205	)
	(919	)	MINI-NASDAQ-100 Index		(26,651,000	)	7/20/13		290.0		(419,523	)
	(900	)	MINI-NASDAQ-100 Index		(26,325,000	)	7/20/13		292.5		(292,500	)
	(949	)	MINI-NASDAQ-100 Index		(27,995,500	)	7/20/13		295.0		(170,346	)
	(914	)	MINI-NASDAQ-100 Index		(26,049,000	)	8/17/13		285.0		(902,575	)
	(940	)	MINI-NASDAQ-100 Index		(27,730,000	)	8/17/13		295.0		(392,450	)
	(889	)	MINI-NASDAQ-100 Index		(26,447,750	)	8/17/13		297.5		(270,701	)
	(538	)	S&P 500® Index		(83,390,000	)	7/20/13		1,550.0		(3,338,290	)
	(476	)	S&P 500® Index		(74,970,000	)	7/20/13		1,575.0		(2,013,480	)
	(884	)	S&P 500® Index		(141,440,000	)	7/20/13		1,600.0		(2,249,780	)
	(978	)	S&P 500® Index		(158,925,000	)	7/20/13		1,625.0		(1,217,610	)
	(359	)	S&P 500® Index		(56,542,500	)	8/17/13		1,575.0		(1,942,190	)
	(764	)	S&P 500® Index		(122,240,000	)	8/17/13		1,600.0		(2,880,280	)
	(11,350	)	Total Call Options Written (premiums received $20,452,710)	$	(851,376,000	)				$	(17,379,832	)

    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 shown 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 listed within Investments in Derivatives as of the end of the reporting period.

  (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.

    See accompanying notes to financial statements.

Nuveen Investments
31

JLA

Nuveen Equity Premium Advantage Fund

Portfolio of Investments

  June 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Common Stocks – 98.6% (5)
		Aerospace & Defense – 1.3%
	15,279	Boeing Company	$	1,565,181
	16,032	Honeywell International Inc.		1,271,979
	18,715	United Technologies Corporation		1,739,372
		Total Aerospace & Defense		4,576,532
		Air Freight & Logistics – 0.6%
	23,585	United Parcel Service, Inc., Class B		2,039,631
		Airlines – 0.2%
	12,008	Delta Air Lines, Inc.		224,670
	26,363	Southwest Airlines Co.		339,819
		Total Airlines		564,489
		Auto Components – 0.1%
	10,102	American Axle and Manufacturing Holdings Inc., (2)		188,200
		Automobiles – 0.5%
	49,165	Ford Motor Company		760,583
	14,597	Harley-Davidson, Inc.		800,208
		Total Automobiles		1,560,791
		Beverages – 1.3%
	36,625	Coca-Cola Company		1,469,029
	15,729	Monster Beverage Corporation, (2)		955,851
	25,502	PepsiCo, Inc.		2,085,809
		Total Beverages		4,510,689
		Biotechnology – 4.6%
	55,224	Amgen Inc.		5,448,400
	36,471	Celgene Corporation, (2)		4,263,825
	118,127	Gilead Sciences, Inc., (2)		6,049,284
		Total Biotechnology		15,761,509
		Capital Markets – 1.1%
	32,441	Bank of New York Company, Inc.		909,970
	62,652	Charles Schwab Corporation		1,330,102
	1,581	Goldman Sachs Group, Inc.		239,126
	30,105	Morgan Stanley		735,465
	17,346	Waddell & Reed Financial, Inc., Class A		754,551
		Total Capital Markets		3,969,214
		Chemicals – 1.0%
	973	CF Industries Holdings, Inc.		166,869
	18,504	Dow Chemical Company		595,274
	25,684	E.I. Du Pont de Nemours and Company		1,348,410
	10,514	Monsanto Company		1,038,783

Nuveen Investments
32

Shares		Description (1)	Value
		Chemicals (continued)
	4,219	Mosaic Company	$	227,024
		Total Chemicals		3,376,360
		Commercial Banks – 1.7%
	56,406	U.S. Bancorp		2,039,077
	95,589	Wells Fargo & Company		3,944,958
		Total Commercial Banks		5,984,035
		Commercial Services & Supplies – 0.0%
	10,378	R.R. Donnelley & Sons Company		145,396
		Communications Equipment – 4.9%
	6,820	Aviat Networks Inc., (2)		17,868
	374,559	Cisco Systems, Inc.		9,105,529
	131,018	QUALCOMM, Inc.		8,002,579
		Total Communications Equipment		17,125,976
		Computers & Peripherals – 7.8%
	61,423	Apple, Inc.		24,328,422
	28,119	EMC Corporation		664,171
	19,045	Hewlett-Packard Company		472,316
	24,916	Western Digital Corporation		1,547,034
		Total Computers & Peripherals		27,011,943
		Consumer Finance – 0.5%
	8,310	American Express Company		621,256
	6,671	Capital One Financial Corporation		419,006
	27,215	SLM Corporation		622,135
		Total Consumer Finance		1,662,397
		Containers & Packaging – 0.3%
	19,780	Packaging Corp. of America		968,429
	4,824	Sonoco Products Company		166,766
		Total Containers & Packaging		1,135,195
		Distributors – 0.1%
	3,449	Genuine Parts Company		269,263
		Diversified Consumer Services – 0.1%
	4,119	ITT Educational Services, Inc., (2)		100,504
	21,475	Service Corporation International		387,194
		Total Diversified Consumer Services		487,698
		Diversified Financial Services – 2.4%
	149,582	Bank of America Corporation		1,923,625
	39,530	Citigroup Inc.		1,896,254
	19,235	CME Group, Inc.		1,461,475
	39,922	JPMorgan Chase & Co.		2,107,482
	13,902	Moody's Corporation		847,049
		Total Diversified Financial Services		8,235,885
		Diversified Telecommunication Services – 1.5%
	63,546	AT&T Inc.		2,249,528
	1	Frontier Communications Corporation		4
	59,414	Verizon Communications Inc.		2,990,901
		Total Diversified Telecommunication Services		5,240,433

Nuveen Investments
33

JLA

Nuveen Equity Premium Advantage Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Electric Utilities – 1.5%
	30,093	Duke Energy Corporation	$	2,031,277
	48,358	Great Plains Energy Incorporated		1,089,989
	6,884	OGE Energy Corp.		469,489
	28,722	Pinnacle West Capital Corporation		1,593,209
		Total Electric Utilities		5,183,964
		Electrical Equipment – 1.7%
	33,441	Eaton PLC		2,200,752
	28,532	Emerson Electric Company		1,556,135
	11,238	Hubbell Incorporated, Class B		1,112,562
	14,091	Rockwell Automation, Inc.		1,171,526
		Total Electrical Equipment		6,040,975
		Electronic Equipment & Instruments – 0.6%
	17,200	Amphenol Corporation, Class A		1,340,568
	39,646	Corning Incorporated		564,163
		Total Electronic Equipment & Instruments		1,904,731
		Energy Equipment & Services – 1.3%
	23,374	Cameron International Corporation, (2)		1,429,554
	9,396	Diamond Offshore Drilling, Inc.		646,351
	29,446	Halliburton Company		1,228,487
	18,594	Schlumberger Limited		1,332,446
		Total Energy Equipment & Services		4,636,838
		Food & Staples Retailing – 1.8%
	33,338	CVS Caremark Corporation		1,906,267
	27,808	Kroger Co.		960,488
	23,214	Walgreen Co.		1,026,059
	31,613	Wal-Mart Stores, Inc.		2,354,852
		Total Food & Staples Retailing		6,247,666
		Food Products – 1.0%
	10,080	Archer-Daniels-Midland Company		341,813
	15,863	Kraft Foods Inc., Class A		886,266
	72,807	Mondelez International Inc.		2,077,184
		Total Food Products		3,305,263
		Gas Utilities – 0.4%
	21,576	AGL Resources Inc.		924,747
	15,026	Piedmont Natural Gas Company		506,977
		Total Gas Utilities		1,431,724
		Health Care Equipment & Supplies – 1.6%
	41,688	Abbott Laboratories		1,454,077
	16,835	Baxter International, Inc.		1,166,160
	9,327	CareFusion Corporation, (2)		343,700
	5,822	Covidien PLC		365,854
	12,334	Hill Rom Holdings Inc.		415,409
	11,631	Medtronic, Inc.		598,648
	11,540	Saint Jude Medical Inc.		526,570
	8,617	Zimmer Holdings, Inc.		645,758
		Total Health Care Equipment & Supplies		5,516,176
		Health Care Providers & Services – 2.6%
	13,759	Brookdale Senior Living Inc., (2)		363,788
	23,480	Cardinal Health, Inc.		1,108,256

Nuveen Investments
34

Shares		Description (1)	Value
		Health Care Providers & Services (continued)
	50,126	Express Scripts, (2)	$	3,092,273
	1,520	McKesson HBOC Inc.		174,040
	11,450	Omnicare, Inc.		546,279
	12,175	Tenet Healthcare Corporation, (2)		561,267
	19,406	UnitedHealth Group Incorporated		1,270,705
	20,106	Universal Health Services, Inc., Class B		1,346,298
	8,528	Wellpoint Inc.		697,932
		Total Health Care Providers & Services		9,160,838
		Hotels, Restaurants & Leisure – 1.7%
	20,714	Carnival Corporation		710,283
	17,543	International Game Technology		293,144
	25,719	McDonald's Corporation		2,546,181
	12,224	Starwood Hotels & Resorts Worldwide, Inc.		772,435
	84,855	The Wendy's Company		494,705
	19,573	Tim Hortons Inc.		1,059,486
		Total Hotels, Restaurants & Leisure		5,876,234
		Household Durables – 0.8%
	41,536	KB Home		815,352
	36,936	Newell Rubbermaid Inc.		969,570
	7,376	Whirlpool Corporation		843,519
		Total Household Durables		2,628,441
		Household Products – 0.7%
	32,355	Procter & Gamble Company		2,491,011
		Industrial Conglomerates – 1.1%
	9,403	3M Co.		1,028,218
	13,006	Danaher Corporation		823,280
	82,528	General Electric Company		1,913,824
		Total Industrial Conglomerates		3,765,322
		Insurance – 1.4%
	12,439	American International Group		556,023
	824	Arch Capital Group Limited, (2)		42,362
	3,641	Berkshire Hathaway Inc., Class B, (2)		407,501
	26,516	Fidelity National Title Group Inc., Class A		631,346
	24,192	Marsh & McLennan Companies, Inc.		965,745
	13,163	Prudential Financial, Inc.		961,294
	15,488	Travelers Companies, Inc.		1,237,801
		Total Insurance		4,802,072
		Internet & Catalog Retail – 2.7%
	32,054	Amazon.com, Inc., (2)		8,901,075
	10,391	HSN, Inc.		558,205
		Total Internet & Catalog Retail		9,459,280
		Internet Software & Services – 7.6%
	30,462	Akamai Technologies, Inc., (2)		1,296,158
	2,017	AOL Inc., (2)		73,580
	16,544	Baidu.com, Inc., Sponsored ADR, (2)		1,563,904
	92,095	eBay Inc., (2)		4,763,153
	17,266	Google Inc., Class A, (2)		15,200,468
	20,300	IAC/InterActiveCorp.		965,468
	102,391	Yahoo! Inc., (2)		2,571,038
		Total Internet Software & Services		26,433,769

Nuveen Investments
35

JLA

Nuveen Equity Premium Advantage Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		IT Services – 3.2%
	46,267	Automatic Data Processing, Inc.	$	3,185,946
	23,280	Fidelity National Information Services		997,315
	8,158	Global Payments Inc.		377,879
	14,822	Infosys Technologies Limited, Sponsored ADR		610,518
	10,431	International Business Machines Corporation (IBM)		1,993,468
	12,871	Lender Processing Services Inc.		416,377
	58,743	Paychex, Inc.		2,145,294
	7,718	Visa Inc., Class A		1,410,464
		Total IT Services		11,137,261
		Life Sciences Tools & Services – 0.2%
	15,384	Agilent Technologies, Inc.		657,820
		Machinery – 1.2%
	13,470	Caterpillar Inc.		1,111,140
	7,028	Deere & Company		571,025
	22,531	Graco Inc.		1,424,185
	16,187	SPX Corporation		1,165,140
		Total Machinery		4,271,490
		Media – 5.1%
	23,415	CBS Corporation, Class B		1,144,291
	153,751	Comcast Corporation, Special Class A		6,099,302
	52,989	DirecTV, (2)		3,265,182
	2,751	Liberty Media Corporation, (2)		348,717
	51,552	News Corporation, Class B		1,691,937
	20,124	Omnicom Group, Inc.		1,265,196
	2,751	Starz, (2)		60,797
	6,011	Time Warner Cable, Class A		676,117
	21,163	Time Warner Inc.		1,223,645
	30,876	Walt Disney Company		1,949,819
		Total Media		17,725,003
		Metals & Mining – 0.2%
	4,949	AngloGold Ashanti Limited, Sponsored ADR		70,771
	7,972	Cliffs Natural Resources Inc.		129,545
	54,923	Companhia Siderurgica Nacional S.A., Sponsored ADR		152,137
	5,432	Freeport-McMoRan Copper & Gold, Inc.		149,978
	1,736	Newmont Mining Corporation		51,993
	7,686	United States Steel Corporation		134,736
		Total Metals & Mining		689,160
		Multiline Retail – 0.3%
	10,865	Family Dollar Stores, Inc.		676,998
	4,575	J.C. Penney Company, Inc., (2)		78,141
	4,511	Kohl's Corporation		227,851
		Total Multiline Retail		982,990
		Multi-Utilities – 0.4%
	21,316	Integrys Energy Group, Inc.		1,247,625
		Oil, Gas & Consumable Fuels – 4.2%
	1,231	Anadarko Petroleum Corporation		105,780
	4,671	Cabot Oil & Gas Corporation		331,734
	36,527	Chevron Corporation		4,322,605
	39,706	ConocoPhillips		2,402,213
	59,547	Exxon Mobil Corporation		5,380,071
	1,606	Marathon Oil Corporation		55,535

Nuveen Investments
36

Shares		Description (1)	Value
		Oil, Gas & Consumable Fuels (continued)
	6,095	Occidental Petroleum Corporation	$	543,857
	22,649	Phillips 66		1,334,253
	2,785	Royal Dutch Shell PLC, Class A, Sponsored ADR		177,683
		Total Oil, Gas & Consumable Fuels		14,653,731
		Paper & Forest Products – 0.3%
	21,984	International Paper Company		974,111
		Pharmaceuticals – 4.0%
	38,938	AbbVie Inc.		1,609,697
	13,538	Allergan, Inc.		1,140,441
	45,036	Bristol-Myers Squibb Company		2,012,659
	7,517	Eli Lilly and Company		369,235
	13,675	Forest Laboratories, Inc., (2)		560,675
	7,458	GlaxoSmithKline PLC, Sponsored ADR		372,676
	20,631	Johnson & Johnson		1,771,378
	73,080	Merck & Company Inc.		3,394,566
	4,647	Novartis AG, Sponsored ADR		328,589
	82,836	Pfizer Inc.		2,320,236
		Total Pharmaceuticals		13,880,152
		Professional Services – 0.6%
	18,950	Manpower Inc.		1,038,460
	30,314	Robert Half International Inc.		1,007,334
		Total Professional Services		2,045,794
		Real Estate Investment Trust – 1.1%
	18,413	Apartment Investment & Management Company, Class A		553,127
	28,958	CubeSmart		462,749
	4,590	Developers Diversified Realty Corporation		76,424
	40,126	Senior Housing Properties Trust		1,040,467
	25,511	Ventas Inc.		1,771,994
		Total Real Estate Investment Trust		3,904,761
		Road & Rail – 0.2%
	23,916	CSX Corporation		554,612
		Semiconductors & Equipment – 5.7%
	54,140	Advanced Micro Devices, Inc., (2)		220,891
	49,030	Altera Corporation		1,617,500
	25,698	Analog Devices, Inc.		1,157,952
	65,680	Applied Materials, Inc.		979,289
	1,253	ASML Holding N.V., Sponsored ADR		99,112
	93,518	Atmel Corporation, (2)		687,357
	48,224	Broadcom Corporation, Class A		1,628,042
	4,697	Cree, Inc., (2)		299,950
	11,761	Cypress Semiconductor Corporation, (2)		126,196
	28,948	Fairchild Semiconductor International Inc., Class A, (2)		399,482
	17,789	Integrated Device Technology, Inc., (2)		141,245
	363,454	Intel Corporation		8,802,856
	2,596	Intersil Holding Corporation, Class A		20,301
	8,733	Lam Research Corporation, (2)		387,221
	45,919	Linear Technology Corporation		1,691,656
	35,700	LSI Logic Corporation		254,898
	76,193	NVIDIA Corporation		1,068,988
	5,819	SunEdison Inc., (2)		47,541
	2,774	Taiwan Semiconductor Manufacturing Company Limited, Sponsored ADR		50,820
		Total Semiconductors & Equipment		19,681,297

Nuveen Investments
37

JLA

Nuveen Equity Premium Advantage Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Software – 10.0%
	62,768	Activision Blizzard Inc.	$	895,072
	56,823	Adobe Systems Incorporated, (2)		2,588,856
	39,771	Autodesk, Inc., (2)		1,349,828
	65,185	CA Inc.		1,866,247
	33,659	Cadence Design Systems, Inc., (2)		487,382
	542,531	Microsoft Corporation		18,733,595
	288,883	Oracle Corporation		8,874,486
		Total Software		34,795,466
		Specialty Retail – 1.9%
	1,126	Best Buy Co., Inc.		30,774
	16,073	Gap, Inc.		670,726
	29,287	Home Depot, Inc.		2,268,864
	32,217	Limited Brands Inc.		1,586,687
	2,484	Lowe's Companies, Inc.		101,596
	10,184	TJX Companies, Inc.		509,811
	32,475	Urban Outfitters, Inc., (2)		1,306,145
		Total Specialty Retail		6,474,603
		Textiles, Apparel & Luxury Goods – 0.2%
	14,587	Coach, Inc.		832,772
		Thrifts & Mortgage Finance – 0.0%
	1,712	Tree.com Inc.		29,344
		Tobacco – 1.1%
	30,144	Altria Group, Inc.		1,054,739
	32,805	Philip Morris International		2,841,569
		Total Tobacco		3,896,308
		Wireless Telecommunication Services – 0.2%
	9,319	Crown Castle International Corporation, (2)		674,602
		Total Common Stocks (cost $204,627,654)		341,838,842

Principal Amount (000)		Description (1)	Coupon			Maturity	Value
		Short-Term Investments – 5.3%
$	18,291	Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/28/13, repurchase price $18,291,332, collateralized by $18,360,000 U.S. Treasury Notes, 1.750%, due 10/31/18, value $18,658,350		0.010	%	7/01/13	$	18,291,317
		Total Short-Term Investments (cost $18,291,317)						18,291,317
		Total Investments (cost $222,918,971) – 103.9%						360,130,159
		Other Assets Less Liabilities – (3.9)% (3)						(13,682,155	)
		Net Assets – 100%					$	346,448,004

Nuveen Investments
38

Investments in Derivatives as of June 30, 2013

Call Options Written outstanding:

Number of Contracts			Type	Notional Amount (4)			Expiration Date	Strike Price		Value (3)
	(705	)	MINI-NASDAQ-100 Index	$	(20,092,500	)	7/20/13	$	285.0	$	(562,237	)
	(734	)	MINI-NASDAQ-100 Index		(21,102,500	)	7/20/13		287.5		(444,070	)
	(705	)	MINI-NASDAQ-100 Index		(20,445,000	)	7/20/13		290.0		(321,833	)
	(698	)	MINI-NASDAQ-100 Index		(20,416,500	)	7/20/13		292.5		(226,850	)
	(763	)	MINI-NASDAQ-100 Index		(22,508,500	)	7/20/13		295.0		(136,959	)
	(728	)	MINI-NASDAQ-100 Index		(20,748,000	)	8/17/13		285.0		(718,900	)
	(807	)	MINI-NASDAQ-100 Index		(23,806,500	)	8/17/13		295.0		(336,922	)
	(682	)	MINI-NASDAQ-100 Index		(20,289,500	)	8/17/13		297.5		(207,669	)
	(131	)	S&P 500® Index		(20,632,500	)	7/20/13		1,575.0		(554,130	)
	(234	)	S&P 500® Index		(37,440,000	)	7/20/13		1,600.0		(595,530	)
	(256	)	S&P 500® Index		(41,600,000	)	7/20/13		1,625.0		(318,720	)
	(142	)	S&P 500® Index		(22,010,000	)	7/20/13		1,550.0		(881,110	)
	(97	)	S&P 500® Index		(15,277,500	)	8/17/13		1,575.0		(524,770	)
	(200	)	S&P 500® Index		(32,000,000	)	8/17/13		1,600.0		(754,000	)
	(6,882	)	Total Call Options Written (premiums received $7,965,180)	$	(338,369,000	)				$	(6,583,700	)

    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 shown 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 listed within Investments in Derivatives as of the end of the reporting period.

  (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.

    See accompanying notes to financial statements.

Nuveen Investments
39

JPG

Nuveen Equity Premium and Growth Fund

Portfolio of Investments

  June 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Common Stocks – 98.3% (5)
		Aerospace & Defense – 2.8%
	20,739	Boeing Company	$	2,124,503
	19,938	Honeywell International Inc.		1,581,881
	14,434	Raytheon Company		954,376
	21,581	United Technologies Corporation		2,005,738
		Total Aerospace & Defense		6,666,498
		Air Freight & Logistics – 0.5%
	15,007	United Parcel Service, Inc., Class B		1,297,805
		Airlines – 0.1%
	13,205	Latam Airlines Group, Sponsored ADR		223,032
		Auto Components – 0.2%
	9,310	Cooper Tire & Rubber		308,813
	5,900	Dana Holding Corporation		113,634
		Total Auto Components		422,447
		Automobiles – 0.6%
	92,502	Ford Motor Company		1,431,006
		Beverages – 2.4%
	86,588	Coca-Cola Company		3,473,045
	28,103	PepsiCo, Inc.		2,298,544
		Total Beverages		5,771,589
		Biotechnology – 1.5%
	11,864	Celgene Corporation, (2)		1,387,020
	40,546	Gilead Sciences, Inc., (2)		2,076,361
	10,546	PDL BioPharma Inc.		81,415
		Total Biotechnology		3,544,796
		Capital Markets – 2.0%
	53,257	Charles Schwab Corporation		1,130,646
	24,627	Federated Investors Inc.		675,026
	7,757	Goldman Sachs Group, Inc.		1,173,246
	46,141	Morgan Stanley		1,127,225
	14,786	Waddell & Reed Financial, Inc., Class A		643,191
		Total Capital Markets		4,749,334
		Chemicals – 2.5%
	22,557	Dow Chemical Company		725,659
	17,703	E.I. Du Pont de Nemours and Company		929,408
	14,249	Eastman Chemical Company		997,572
	10,640	Monsanto Company		1,051,232
	27,207	Olin Corporation		650,791
	7,340	PPG Industries, Inc.		1,074,649

Nuveen Investments
40

Shares		Description (1)	Value
		Chemicals (continued)
	16,530	RPM International, Inc.	$	527,968
		Total Chemicals		5,957,279
		Commercial Banks – 2.7%
	12,843	Comerica Incorporated		511,537
	12,783	Fifth Third Bancorp.		230,733
	11,582	First Horizon National Corporation		129,718
	8,574	FirstMerit Corporation		171,737
	49,105	Huntington BancShares Inc.		386,947
	33,673	Regions Financial Corporation		320,904
	45,230	U.S. Bancorp		1,635,065
	78,213	Wells Fargo & Company		3,227,851
		Total Commercial Banks		6,614,492
		Commercial Services & Supplies – 0.3%
	5,330	Avery Dennison Corporation		227,911
	14,872	Deluxe Corporation		515,315
	8,400	Kimball International Inc., Class B		81,564
		Total Commercial Services & Supplies		824,790
		Communications Equipment – 2.4%
	109,537	Cisco Systems, Inc.		2,662,844
	14,740	Motorola Solutions Inc.		850,940
	35,475	QUALCOMM, Inc.		2,166,813
	2,984	Research In Motion Limited, (2)		31,242
		Total Communications Equipment		5,711,839
		Computers & Peripherals – 3.4%
	15,359	Apple, Inc.		6,083,393
	30,455	Dell Inc.		406,574
	40,436	EMC Corporation		955,098
	25,651	Hewlett-Packard Company		636,145
		Total Computers & Peripherals		8,081,210
		Consumer Finance – 0.6%
	20,573	American Express Company		1,538,037
		Containers & Packaging – 0.3%
	16,760	Packaging Corp. of America		820,570
		Distributors – 0.0%
	796	Genuine Parts Company		62,144
		Diversified Consumer Services – 0.0%
	5,562	Apollo Group, Inc., Class A, (2)		98,559
		Diversified Financial Services – 4.8%
	200,358	Bank of America Corporation		2,576,604
	52,605	Citigroup Inc.		2,523,462
	12,960	CME Group, Inc.		984,701
	4,327	Intercontinental Exchange, Inc., (2)		769,168
	79,421	JPMorgan Chase & Co.		4,192,635
	9,862	New York Stock Exchange Euronext		408,287
		Total Diversified Financial Services		11,454,857

Nuveen Investments
41

JPG

Nuveen Equity Premium and Growth Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Diversified Telecommunication Services – 3.2%
	3,700	Alaska Communications Systems Group Inc.	$	6,216
	106,776	AT&T Inc.		3,779,870
	111,815	Frontier Communications Corporation		452,851
	67,351	Verizon Communications Inc.		3,390,449
		Total Diversified Telecommunication Services		7,629,386
		Electric Utilities – 0.9%
	33,596	Duke Energy Corporation		2,267,730
	876	Great Plains Energy Incorporated		19,745
		Total Electric Utilities		2,287,475
		Electrical Equipment – 0.8%
	3,151	Eaton PLC		207,367
	22,224	Emerson Electric Company		1,212,097
	6,854	Rockwell Automation, Inc.		569,842
		Total Electrical Equipment		1,989,306
		Electronic Equipment & Instruments – 0.3%
	48,583	Corning Incorporated		691,336
		Energy Equipment & Services – 2.0%
	12,363	Baker Hughes Incorporated		570,305
	2,246	Carbo Ceramics Inc.		151,448
	29,590	Halliburton Company		1,234,495
	9,961	National-Oilwell Varco Inc.		686,313
	12,997	Noble Corporation		488,427
	20,806	Schlumberger Limited		1,490,958
	1,869	Tidewater Inc.		106,477
		Total Energy Equipment & Services		4,728,423
		Food & Staples Retailing – 2.1%
	28,828	CVS Caremark Corporation		1,648,385
	23,426	SUPERVALU INC., (2)		145,710
	34,385	Wal-Mart Stores, Inc.		2,561,339
	11,974	Whole Foods Market, Inc.		616,422
		Total Food & Staples Retailing		4,971,856
		Food Products – 1.4%
	13,960	Archer-Daniels-Midland Company		473,384
	17,628	ConAgra Foods, Inc.		615,746
	15,625	Kraft Foods Inc., Class A		872,969
	46,877	Mondelez International Inc.		1,337,401
		Total Food Products		3,299,500
		Gas Utilities – 0.5%
	13,418	AGL Resources Inc.		575,095
	14,636	ONEOK, Inc.		604,613
		Total Gas Utilities		1,179,708
		Health Care Equipment & Supplies – 1.5%
	45,691	Abbott Laboratories		1,593,702
	28,854	Boston Scientific Corporation, (2)		267,477
	3,976	Hologic Inc., (2)		76,737
	31,998	Medtronic, Inc.		1,646,937
		Total Health Care Equipment & Supplies		3,584,853

Nuveen Investments
42

Shares		Description (1)	Value
		Health Care Providers & Services – 2.5%
	13,746	Aetna Inc.	$	873,421
	1,637	Brookdale Senior Living Inc., (2)		43,282
	26,122	Express Scripts, (2)		1,611,466
	5,614	Humana Inc.		473,709
	6,162	Tenet Healthcare Corporation, (2)		284,068
	27,666	UnitedHealth Group Incorporated		1,811,570
	11,165	Wellpoint Inc.		913,744
		Total Health Care Providers & Services		6,011,260
		Hotels, Restaurants & Leisure – 1.4%
	9,393	International Game Technology		156,957
	21,646	McDonald's Corporation		2,142,954
	13,188	MGM Resorts International Inc., (2)		194,919
	43,350	The Wendy's Company		252,731
	4,557	Tim Hortons Inc.		246,670
	5,749	Wyndham Worldwide Corporation		329,015
		Total Hotels, Restaurants & Leisure		3,323,246
		Household Durables – 0.5%
	9,410	KB Home		184,718
	7,325	Lennar Corporation, Class A		263,993
	16,964	Newell Rubbermaid Inc.		445,305
	2,393	Whirlpool Corporation		273,663
		Total Household Durables		1,167,679
		Household Products – 2.1%
	10,456	Colgate-Palmolive Company		599,024
	9,977	Kimberly-Clark Corporation		969,166
	46,510	Procter & Gamble Company		3,580,805
		Total Household Products		5,148,995
		Industrial Conglomerates – 1.7%
	15,041	3M Co.		1,644,733
	108,753	General Electric Company		2,521,982
		Total Industrial Conglomerates		4,166,715
		Insurance – 3.9%
	18,935	Arthur J. Gallagher & Co.		827,270
	27,775	Berkshire Hathaway Inc., Class B, (2)		3,108,578
	16,883	Fidelity National Title Group Inc., Class A		401,984
	20,130	Genworth Financial Inc., Class A, (2)		229,683
	12,560	Kemper Corporation		430,180
	26,486	Lincoln National Corporation		965,944
	26,240	Marsh & McLennan Companies, Inc.		1,047,501
	16,516	Mercury General Corporation		726,043
	10,189	Prudential Financial, Inc.		744,103
	11,626	Travelers Companies, Inc.		929,150
		Total Insurance		9,410,436
		Internet & Catalog Retail – 0.9%
	7,722	Amazon.com, Inc., (2)		2,144,322
		Internet Software & Services – 2.7%
	5,170	Akamai Technologies, Inc., (2)		219,984
	25,659	eBay Inc., (2)		1,327,083
	4,340	Google Inc., Class A, (2)		3,820,806
	22,961	United Online, Inc.		174,044

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JPG

Nuveen Equity Premium and Growth Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Internet Software & Services (continued)
	6,424	VeriSign, Inc., (2)	$	286,896
	27,685	Yahoo! Inc., (2)		695,170
		Total Internet Software & Services		6,523,983
		IT Services – 3.7%
	29,053	Automatic Data Processing, Inc.		2,000,590
	9,387	Cognizant Technology Solutions Corporation, Class A, (2)		587,720
	11,474	Fidelity National Information Services		491,546
	20,319	International Business Machines Corporation (IBM)		3,883,164
	2,687	Lender Processing Services Inc.		86,924
	9,814	Visa Inc., Class A		1,793,508
		Total IT Services		8,843,452
		Leisure Equipment & Products – 0.4%
	21,208	Mattel, Inc.		960,934
	634	Polaris Industries Inc.		60,230
		Total Leisure Equipment & Products		1,021,164
		Life Sciences Tools & Services – 0.2%
	1,370	Covance, Inc., (2)		104,312
	4,213	Life Technologies Corporation, (2)		311,804
		Total Life Sciences Tools & Services		416,116
		Machinery – 2.5%
	3,706	Briggs & Stratton Corporation		73,379
	12,391	Caterpillar Inc.		1,022,134
	3,774	Cummins Inc.		409,328
	11,246	Deere & Company		913,738
	13,943	Illinois Tool Works, Inc.		964,437
	5,351	Pentair Limited		308,699
	11,866	Snap-on Incorporated		1,060,583
	17,297	Stanley Black & Decker Inc.		1,337,058
		Total Machinery		6,089,356
		Media – 2.6%
	12,544	CBS Corporation, Class B		613,025
	62,276	Comcast Corporation, Class A		2,608,119
	14,912	DirecTV, (2)		918,877
	8,126	Gannett Company Inc.		198,762
	5,070	Lamar Advertising Company, (2)		220,038
	28,121	New York Times, Class A, (2)		311,018
	51,096	Regal Entertainment Group, Class A		914,618
	45,144	Sirius XM Radio Inc.		151,232
	24,892	World Wrestling Entertainment Inc.		256,637
		Total Media		6,192,326
		Metals & Mining – 0.4%
	4,770	Companhia Siderurgica Nacional S.A., Sponsored ADR		13,213
	23,593	Freeport-McMoRan Copper & Gold, Inc.		651,403
	10,237	Southern Copper Corporation		282,746
	3,047	United States Steel Corporation		53,414
		Total Metals & Mining		1,000,776
		Multiline Retail – 0.8%
	8,878	Nordstrom, Inc.		532,147
	18,749	Target Corporation		1,291,056
		Total Multiline Retail		1,823,203

Nuveen Investments
44

Shares		Description (1)	Value
		Multi-Utilities – 1.4%
	14,000	Ameren Corporation	$	482,160
	52,946	CenterPoint Energy, Inc.		1,243,702
	7,260	Consolidated Edison, Inc.		423,331
	22,250	Dominion Resources, Inc.		1,264,245
		Total Multi-Utilities		3,413,438
		Oil, Gas & Consumable Fuels – 8.8%
	32,095	Chesapeake Energy Corporation		654,096
	34,906	Chevron Corporation		4,130,776
	20,462	ConocoPhillips		1,237,951
	11,317	CONSOL Energy Inc.		306,691
	6,936	EOG Resources, Inc.		913,332
	80,980	Exxon Mobil Corporation		7,316,543
	7,395	Hess Corporation		491,694
	20,768	Marathon Oil Corporation		718,157
	10,284	Marathon Petroleum Corporation		730,781
	19,605	Occidental Petroleum Corporation		1,749,354
	21,448	Peabody Energy Corporation		313,999
	10,973	Phillips 66		646,419
	24,031	Ship Financial International Limited		356,620
	17,375	Southwestern Energy Company, (2)		634,709
	23,750	StatoilHydro ASA, Sponsored ADR		491,388
	16,856	Valero Energy Corporation		586,083
		Total Oil, Gas & Consumable Fuels		21,278,593
		Personal Products – 0.2%
	21,653	Avon Products, Inc.		455,363
		Pharmaceuticals – 6.3%
	45,691	AbbVie Inc.		1,888,866
	476	AstraZeneca PLC, Sponsored ADR		22,515
	42,537	Bristol-Myers Squibb Company		1,900,979
	12,124	Eli Lilly and Company		595,531
	56,610	Johnson & Johnson		4,860,535
	56,106	Merck & Company Inc.		2,606,124
	108,416	Pfizer Inc.		3,036,732
	5,422	Sanofi SA, Sponsored ADR		279,287
		Total Pharmaceuticals		15,190,569
		Real Estate Investment Trust – 2.2%
	46,182	Annaly Capital Management Inc.		580,508
	35,857	Brandywine Realty Trust		484,787
	14,334	CubeSmart		229,057
	16,442	Hospitality Properties Trust		432,096
	54,457	Lexington Corporate Properties Trust		636,058
	32,604	Senior Housing Properties Trust		845,422
	23,740	Ventas Inc.		1,648,980
	19,112	Weyerhaeuser Company		544,501
		Total Real Estate Investment Trust		5,401,409
		Road & Rail – 0.8%
	12,155	Union Pacific Corporation		1,875,273
		Semiconductors & Equipment – 2.4%
	15,548	Analog Devices, Inc.		700,593
	35,188	Applied Materials, Inc.		524,653
	959	First Solar Inc., (2)		42,896
	107,122	Intel Corporation		2,594,495

Nuveen Investments
45

JPG

Nuveen Equity Premium and Growth Fund (continued)

Portfolio of InvestmentsJune 30, 2013 (Unaudited)

Shares		Description (1)	Value
		Semiconductors & Equipment (continued)
	17,124	Microchip Technology Incorporated	$	637,869
	19,215	NVIDIA Corporation		269,586
	27,352	Texas Instruments Incorporated		953,764
		Total Semiconductors & Equipment		5,723,856
		Software – 3.9%
	16,588	Adobe Systems Incorporated, (2)		755,749
	8,286	Autodesk, Inc., (2)		281,227
	151,552	Microsoft Corporation		5,233,091
	75,428	Oracle Corporation		2,317,148
	18,624	Salesforce.com, Inc., (2)		711,064
		Total Software		9,298,279
		Specialty Retail – 2.7%
	6,506	Abercrombie & Fitch Co., Class A		294,397
	19,409	American Eagle Outfitters, Inc.		354,408
	14,239	Best Buy Co., Inc.		389,152
	1,872	CST Brands Inc., (2)		57,676
	11,367	Gap, Inc.		474,345
	15,188	Home Depot, Inc.		1,176,614
	17,078	Limited Brands Inc.		841,092
	33,335	Lowe's Companies, Inc.		1,363,402
	7,525	Tiffany & Co.		548,121
	19,611	TJX Companies, Inc.		981,727
		Total Specialty Retail		6,480,934
		Textiles, Apparel & Luxury Goods – 0.6%
	7,619	VF Corporation		1,470,924
		Thrifts & Mortgage Finance – 0.3%
	52,183	New York Community Bancorp Inc.		730,562
		Tobacco – 2.1%
	50,557	Altria Group, Inc.		1,768,989
	28,556	Philip Morris International		2,473,521
	17,888	Reynolds American Inc.		865,243
		Total Tobacco		5,107,753
		Trading Companies & Distributors – 0.3%
	3,200	W.W. Grainger, Inc.		806,976
		Wireless Telecommunication Services – 0.2%
	54,217	Sprint Nextel Corporation, (2)		380,603
	1,065	Vodafone Group PLC, Sponsored ADR		30,608
		Total Wireless Telecommunication Services		411,211
		Total Common Stocks (cost $166,448,461)		236,560,296

Nuveen Investments
46

Principal Amount (000)		Description (1)	Coupon			Maturity	Value
		Short-Term Investments – 5.2%
$	12,513	Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/28/13, repurchase price $12,512,576, collateralized by $12,560,000 U.S. Treasury Notes, 1.750%, due 10/31/18, value $12,764,100		0.010	%	7/01/13	$	12,512,566
		Total Short-Term Investments (cost $12,512,566)						12,512,566
		Total Investments (cost $178,961,027) – 103.5%						249,072,862
		Other Assets Less Liabilities – (3.5)% (3)						(8,382,812	)
		Net Assets – 100%					$	240,690,050

Investments in Derivatives as of June 30, 2013

Call Options Written outstanding:

Number of Contracts			Type	Notional Amount (4)			Expiration Date	Strike Price		Value (3)
	(158	)	S&P 500® Index	$	(24,490,000	)	7/20/13	$	1,550	$	(980,390	)
	(140	)	S&P 500® Index		(22,050,000	)	7/20/13		1575		(592,200	)
	(253	)	S&P 500® Index		(40,480,000	)	7/20/13		1600		(643,885	)
	(287	)	S&P 500® Index		(46,637,500	)	7/20/13		1625		(357,315	)
	(105	)	S&P 500® Index		(16,537,500	)	8/17/13		1575		(568,050	)
	(226	)	S&P 500® Index		(36,160,000	)	8/17/13		1600		(852,020	)
	(1,169	)	Total Call Options Written (premiums received $4,595,428)	$	(186,355,000	)				$	(3,993,860	)

    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 shown 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 listed within Investments in Derivatives as of the end of the reporting period.

  (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.

    See accompanying notes to financial statements.

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47

Statement of

ASSETS & LIABILITIES

June 30, 2013 (Unaudited)

	Equity Premium Income (JPZ)			Equity Premium Opportunity (JSN)			Equity Premium Advantage (JLA)			Equity Premium and Growth (JPG)
Assets
Investments, at value (cost $375,335,410, $611,233,682, $222,918,971 and $178,961,027, respectively)	$	534,107,296		$	914,543,440		$	360,130,159		$	249,072,862
Cash		3,176			—			—			—
Receivables:
Dividends and interest		761,107			1,102,170			258,471			317,172
Investments sold		106			—			1,530			—
Reclaims		560			—			145			—
Other assets		59,317			94,714			37,511			24,793
Total assets		534,931,562			915,740,324			360,427,816			249,414,827
Liabilities
Call options written, at value (premiums received $12,322,155, $20,452,710, $7,965,180 and $4,595,428, respectively)		10,747,655			17,379,832			6,583,700			3,993,860
Dividends payable		9,970,816			17,387,193			6,995,013			4,438,711
Accrued expenses:
Management fees		369,714			627,138			250,294			169,511
Trustees fees		55,730			88,465			34,935			21,672
Other		162,186			282,353			115,870			101,023
Total liabilities		21,306,101			35,764,981			13,979,812			8,724,777
Net assets	$	513,625,461		$	879,975,343		$	346,448,004		$	240,690,050
Shares outstanding		38,464,973			66,487,744			25,679,417			16,152,579
Net asset value per share outstanding	$	13.35		$	13.24		$	13.49		$	14.90
Net assets consist of:
Shares, $.01 par value per share	$	384,650		$	664,877		$	256,794		$	161,526
Paid-in surplus		451,585,563			711,829,282			257,378,943			224,856,899
Undistributed (Over-distribution of) net investment income		(17,084,095	)		(31,903,911	)		(12,902,597	)		(7,301,159	)
Accumulated net realized gain (loss)		(81,606,985	)		(106,997,541	)		(36,877,804	)		(47,740,619	)
Net unrealized appreciation (depreciation)		160,346,328			306,382,636			138,592,668			70,713,403
Net assets	$	513,625,461		$	879,975,343		$	346,448,004		$	240,690,050
Authorized shares		Unlimited			Unlimited			Unlimited			Unlimited

See accompanying notes to financial statements.

Nuveen Investments
48

Statement of

OPERATIONS

Six Months Ended June 30, 2013 (Unaudited)

	Equity Premium Income (JPZ)			Equity Premium Opportunity (JSN)			Equity Premium Advantage (JLA)			Equity Premium and Growth (JPG)
Investment Income
Dividends (net of foreign tax withheld of $2,708, $18,075, $5,211 and $7,251, respectively)	$	6,234,603		$	9,352,670		$	3,378,385		$	2,898,382
Interest		755			1,448			494			309
Total investment income		6,235,358			9,354,118			3,378,879			2,898,691
Expenses
Management fees		2,235,437			3,785,539			1,508,803			1,016,332
Shareholder servicing agent fees and expenses		455			779			248			123
Custodian fees and expenses		42,440			68,775			34,484			24,052
Trustees fees and expenses		14,015			23,894			9,510			6,562
Professional fees		20,350			25,581			17,939			16,384
Shareholder reporting expenses		60,343			105,645			33,764			24,725
Stock exchange listing fees		6,092			10,530			4,258			4,258
Investor relations expenses		56,511			83,996			29,275			32,750
Other expenses		35,795			105,426			57,286			29,220
Total expenses before expense reimbursement		2,471,438			4,210,165			1,695,567			1,154,406
Expense reimbursement		—			(52,297	)		—			—
Net expenses		2,471,438			4,157,868			1,695,567			1,154,406
Net investment income (loss)		3,763,920			5,196,250			1,683,312			1,744,285
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments and foreign currency		25,128,112			51,764,691			23,710,551			9,904,872
Call options written		(38,150,553	)		(59,185,337	)		(19,958,939	)		(14,428,739	)
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		35,556,673			47,168,014			11,390,215			19,242,403
Call options written		3,193,269			5,737,162			2,017,548			1,267,500
Net realized and unrealized gain (loss)		25,727,501			45,484,530			17,159,375			15,986,036
Net increase (decrease) in net assets from operations	$	29,491,421		$	50,680,780		$	18,842,687		$	17,730,321

See accompanying notes to financial statements.

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49

Statement of

CHANGES in NET ASSETS (Unaudited)

	Equity Premium Income (JPZ)						Equity Premium Opportunity (JSN)
	Six Months Ended 6/30/13			Year Ended 12/31/12			Six Months Ended 6/30/13			Year Ended 12/31/12
Operations
Net investment income (loss)	$	3,763,920		$	9,410,446		$	5,196,250		$	12,936,622
Net realized gain (loss) from:
Investments and foreign currency		25,128,112			14,716,979			51,764,691			36,351,932
Call options written		(38,150,553	)		(22,510,016	)		(59,185,337	)		(45,753,145	)
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		35,556,673			50,950,393			47,168,014			83,633,596
Call options written		3,193,269			(1,764,899	)		5,737,162			(5,845,583	)
Net increase (decrease) in net assets from operations		29,491,421			50,802,903			50,680,780			81,323,422
Distributions to Shareholders
From and in excess of net investment income		(20,848,015	)		—			(37,100,161	)		—
From net investment income		—			(9,513,512	)		—			(13,421,449	)
Return of capital		—			(32,189,236	)		—			(60,782,807	)
Decrease in net assets from distributions to shareholders		(20,848,015	)		(41,702,748	)		(37,100,161	)		(74,204,256	)
Capital Share Transactions
Cost of shares repurchased or retired		—			(203,434	)		—			(53,251	)
Net increase (decrease) in net assets from capital share transactions		—			(203,434	)		—			(53,251	)
Net increase (decrease) in net assets		8,643,406			8,896,721			13,580,619			7,065,915
Net assets at the beginning of period		504,982,055			496,085,334			866,394,724			859,328,809
Net assets at the end of period	$	513,625,461		$	504,982,055		$	879,975,343		$	866,394,724
Undistributed (Over-distribution of) net investment income at the end of period	$	(17,084,095	)	$	—		$	(31,903,911	)	$	—

See accompanying notes to financial statements.

Nuveen Investments
50

Statement of

CHANGES in NET ASSETS (Unaudited) (continued)

	Equity Premium Advantage (JLA)						Equity Premium and Growth (JPG)
	Six Months Ended 6/30/13			Year Ended 12/31/12			Six Months Ended 6/30/13			Year Ended 12/31/12
Operations
Net investment income (loss)	$	1,683,312		$	3,614,555		$	1,744,285		$	4,074,097
Net realized gain (loss) from:
Investments and foreign currency		23,710,551			24,558,199			9,904,872			5,360,151
Call options written		(19,958,939	)		(21,432,485	)		(14,428,739	)		(7,866,299	)
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		11,390,215			28,048,972			19,242,403			23,903,760
Call options written		2,017,548			(3,025,148	)		1,267,500			(855,286	)
Net increase (decrease) in net assets from operations		18,842,687			31,764,093			17,730,321			24,616,423
Distributions to Shareholders
From and in excess of net investment income		(14,585,909	)		—			(9,045,444	)		—
From net investment income		—			(5,357,420	)		—			(4,142,189	)
Return of capital		—			(23,850,406	)		—			(13,959,339	)
Decrease in net assets from distributions to shareholders		(14,585,909	)		(29,207,826	)		(9,045,444	)		(18,101,528	)
Capital Share Transactions
Cost of shares repurchased or retired		—			(893,691	)		—			(174,186	)
Net increase (decrease) in net assets from capital share transactions		—			(893,691	)		—			(174,186	)
Net increase (decrease) in net assets		4,256,778			1,662,576			8,684,877			6,340,709
Net assets at the beginning of period		342,191,226			340,528,650			232,005,173			225,664,464
Net assets at the end of period	$	346,448,004		$	342,191,226		$	240,690,050		$	232,005,173
Undistributed (Over-distribution of) net investment income at the end of period	$	(12,902,597	)	$	—		$	(7,301,159	)	$	—

See accompanying notes to financial statements.

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Financial

HIGHLIGHTS(Unaudited)

Selected data for a share outstanding throughout each period:

					Investment Operations								Less Distributions
			Beginning Net Asset Value		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Investment Income			From Accumulated Net Realized Gains			Return of Capital			Total			Discount From Shares Repurchased and Retired			Ending Net Asset Value		Ending Market Value
Equity Premium Income (JPZ)
Year Ended 12/31:
	2013	(d)	$	13.13	$	.10	$	.66		$	.76		$	(.54	)***	$	—		$	—		$	(.54	)	$	—		$	13.35	$	12.57
	2012			12.89		.24		1.08			1.32			(.25	)		—			(.83	)		(1.08	)		—	*		13.13		11.83
	2011			13.34		.23		.48			.71			(.75	)		—			(.41	)		(1.16	)		—	*		12.89		11.18
	2010			13.08		.26		1.25			1.51			(.27	)		—			(.98	)		(1.25	)		—			13.34		12.76
	2009			12.75		.27		1.35			1.62			(.28	)		(.24	)		(.77	)		(1.29	)		—	*		13.08		13.00
	2008			18.30		.39		(4.41	)		(4.02	)		(.39	)		(1.14	)		—			(1.53	)		—	*		12.75		10.74
Equity Premium Opportunity (JSN)
Year Ended 12/31:
	2013	(d)		13.03		.08		.69			.77			(.56	)***		—			—			(.56	)		—			13.24		12.35
	2012			12.92		.19		1.04			1.23			(.20	)		—			(.92	)		(1.12	)		—	*		13.03		12.07
	2011			13.39		.18		.55			.73			(1.03	)		—			(.17	)		(1.20	)		—	*		12.92		11.42
	2010			13.30		.18		1.21			1.39			(.18	)		—			(1.12	)		(1.30	)		—			13.39		12.88
	2009			12.69		.21		1.73			1.94			(.22	)		—			(1.12	)		(1.34	)		.01			13.30		13.20
	2008			18.60		.30		(4.62	)		(4.32	)		(.62	)		(.97	)		—			(1.59	)		—	*		12.69		10.68
Equity Premium Advantage (JLA)
Year Ended 12/31:
	2013	(d)		13.33		.07		.66			.73			(.57	)***		—			—			(.57	)		—			13.49		12.34
	2012			13.22		.14		1.11			1.25			(.21	)		—			(.93	)		(1.14	)		—	*		13.33		11.90
	2011			13.62		.12		.70			.82			(.87	)		—			(.35	)		(1.22	)		—	*		13.22		11.46
	2010			13.54		.11		1.27			1.38			(.11	)		—			(1.19	)		(1.30	)		—			13.62		12.90
	2009			12.47		.13		2.25			2.38			(.14	)		—			(1.18	)		(1.32	)		.01			13.54		13.07
	2008			18.57		.17		(4.67	)		(4.50	)		(.92	)		(.69	)		—			(1.61	)		.01			12.47		10.34
Equity Premium and Growth (JPG)
Year Ended 12/31:
	2013	(d)		14.36		.11		.99			1.10			(.56	)***		—			—			(.56	)		—			14.90		13.80
	2012			13.96		.25		1.27			1.52			(.26	)		—			(.86	)		(1.12	)		—	*		14.36		12.93
	2011			14.41		.24		.42			.66			(.40	)		—			(.72	)		(1.12	)		.01			13.96		12.07
	2010			13.87		.24		1.42			1.66			(.24	)		—			(.88	)		(1.12	)		—			14.41		13.85
	2009			13.17		.26		1.55			1.81			(.27	)		(.21	)		(.64	)		(1.12	)		.01			13.87		13.09
	2008			19.31		.36		(5.02	)		(4.66	)		(.40	)		(1.09	)		—			(1.49	)		.01			13.17		10.77

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									Ratios/Supplemental Data
			Total Returns								Ratios to Average Net Assets Before Reimbursement						Ratios to Average Net Assets After Reimbursement(c)
			Based on Market Value(b)			Based on Net Asset Value(b)			Ending Net Assets (000)		Expenses			Net Investment Income (Loss)			Expenses			Net Investment Income (Loss)			Portfolio Turnover Rate(e)
Equity Premium Income (JPZ)
Year Ended 12/31:
	2013	(d)		10.84	%		5.82	%	$	513,625		.96	%**		1.46	%**		N/A			N/A			—	%****
	2012			15.58			10.43			504,982		.96			1.78			.91	%		1.84	%		3
	2011			(3.41	)		5.63			496,085		.97			1.60			.84			1.73			4
	2010			8.10			12.22			515,590		.98			1.78			.77			1.99			3
	2009			35.46			13.74			502,488		.99			1.93			.71			2.21			9
	2008			(26.73	)		(23.27	)		491,706		.97			2.08			.67			2.39			6
Equity Premium Opportunity (JSN)
Year Ended 12/31:
	2013	(d)		6.95			5.92			879,975		.95	**		1.16	**		.94	**		1.17	**		1
	2012			15.68			9.62			866,395		.96			1.39			.88			1.47			6
	2011			(2.02	)		5.78			859,329		.96			1.23			.81			1.38			4
	2010			7.85			11.17			891,517		.97			1.15			.75			1.37			3
	2009			38.49			16.39			878,321		.98			1.35			.68			1.65			4
	2008			(26.64	)		(24.65	)		841,579		.96			1.52			.66			1.82			8
Equity Premium Advantage (JLA)
Year Ended 12/31:
	2013	(d)		8.49			5.49			346,448		.97	**		.97	**		N/A			N/A			3
	2012			13.89			9.54			342,191		.99			1.04			N/A			N/A			6
	2011			(1.82	)		6.35			340,529		.98			.83			.94	%		.87	%		14
	2010			8.95			10.83			352,431		1.00			.66			.85			.80			5
	2009			41.37			20.21			349,898		1.01			.82			.81			1.02			10
	2008			(29.22	)		(25.63	)		323,971		.99			.88			.79			1.08			12
Equity Premium and Growth (JPG)
Year Ended 12/31:
	2013	(d)		11.12			7.69			240,690		.96	**		1.45	**		N/A			N/A			—
	2012			16.58			11.03			232,005		.96			1.74			N/A			N/A			1
	2011			(4.88	)		4.89			225,664		.96			1.66			N/A			N/A			4
	2010			14.90			12.60			235,095		.98			1.75			N/A			N/A			3
	2009			33.63			14.77			226,187		.98			1.99			N/A			N/A			6
	2008			(30.09	)		(25.38	)		216,044		.96			2.13			N/A			N/A			12

(a)  Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b)  Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.

  Total Return Based on Net Asset Value is the combination of changes in net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund's market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.

(c)  After expense reimbursement from Adviser, where applicable. As of October 31, 2012, January 31, 2013 and May 31, 2011, the Adviser is no longer reimbursing Equity Premium Income (JPZ), Equity Premium Opportunity (JSN) and Equity Premium Advantage (JLA), respectively, for any fees or expenses.

(d)  For the six months ended June 30, 2013.

(e)  Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Footnote 5—Investment Transactions) divided by the average long-term market value during the period.

N/A  Fund no longer has a contractual reimbursement agreement with the Adviser.

*  Rounds to less than $.01 per share.

**  Annualized.

***  Represents distributions paid "From and in excess of net investment income" for the six months ended June 30, 2013.

****  Rounds to less than 1%.

See accompanying notes to financial statements.

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53

Notes to

FINANCIAL STATEMENTS(Unaudited)

1. General Information and Significant Accounting Policies

General Information

The funds covered in this report and their corresponding New York Stock Exchange ("NYSE") symbols are as follows (each a "Fund" and collectively, the "Funds"):

•  Nuveen Equity Premium Income Fund (JPZ)  ("Equity Premium Income (JPZ)")

•  Nuveen Equity Premium Opportunity Fund (JSN)   ("Equity Premium Opportunity (JSN)")

•  Nuveen Equity Premium Advantage Fund (JLA)  ("Equity Premium Advantage (JLA)")

•  Nuveen Equity Premium and Growth Fund (JPG)  ("Equity Premium and Growth (JPG)")

The Funds are registered under the Investment Company Act of 1940, as amended, as diversified closed-end registered investment companies. Equity Premium Income (JPZ), Equity Premium Opportunity (JSN), Equity Premium Advantage (JLA) and Equity Premium and Growth (JPG) were organized as Massachusetts business trusts on July 23, 2004, November 11, 2004, February 22, 2005 and November 11, 2004, respectively.

The Funds' investment adviser is Nuveen Fund Advisors, LLC (the "Adviser"), a wholly-owned subsidiary of Nuveen Investments, Inc. ("Nuveen"). The Adviser is responsible for each Fund's overall investment strategy and asset allocation decisions. The Adviser has entered into sub-advisory agreements with Gateway Investment Advisers, LLC ("Gateway"), under which Gateway manages the Funds' investment portfolios.

Equity Premium Income's (JPZ) investment objective is to provide a high level of current income and gains. The Fund invests its Managed Assets (as defined in Footnote 7—Management Fees and Other Transactions with Affiliates) in a diversified equity portfolio that seeks to substantially replicate price movements of the S&P 500^® Index. The Fund also uses an index option strategy of writing (selling) index call options in seeking to moderate the volatility of returns relative to an all equity portfolio.

Equity Premium Opportunity's (JSN) primary investment objective is to provide a high level of current income and gains from net index option premiums. The Fund's secondary investment objective is to seek capital appreciation consistent with the Fund's strategy and its primary objective. The Fund invests its Managed Assets in a diversified equity portfolio that seeks to substantially replicate price movements of a 75% / 25% combination of the S&P 500^® Index and the NASDAQ-100 Index, respectively. The Fund also uses an index option strategy of writing (selling) S&P 500^® Index and NASDAQ Index call options in seeking to moderate the volatility of returns relative to an all equity portfolio.

Equity Premium Advantage's (JLA) primary investment objective is to provide a high level of current income and gains from net index option premiums. The Fund's secondary investment objective is to seek capital appreciation consistent with the Fund's strategy and its primary objective. The Fund invests its Managed Assets in a diversified equity portfolio that seeks to substantially replicate price movements of a 50% / 50% combination of the S&P 500^® Index and the NASDAQ-100 Index, respectively. The Fund also uses an index option strategy of writing (selling) S&P 500^® Index and NASDAQ Index call options in seeking to moderate the volatility of returns relative to an all equity portfolio.

Equity Premium and Growth's (JPG) primary investment objective is to provide a high level of current income and gains from net index option premiums. The Fund's secondary investment objective is to seek capital appreciation consistent with the Fund's strategy and its primary objective. The Fund invests its Managed Assets in a diversified equity portfolio that seeks to substantially replicate price movements of the S&P 500^® Index. The Fund also uses an index option strategy of writing (selling) index call options covering approximately 80% of the value of the Fund's equity portfolio in seeking to moderate the volatility of returns relative to an all equity portfolio.

Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").

Investment Transactions

Investment transactions are recorded on a trade date basis. Realized gains and losses from investment transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes.

Investment Income

Dividend income is recorded on the ex-dividend date or, for foreign securities, when information is available. Interest income is recorded on an accrual basis.

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54

Professional Fees

Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment, or to pursue other claims or legal actions on behalf of Fund shareholders. Should a Fund receive a refund of workout expenditures paid in a prior reporting period, such amounts will be recognized as "Legal fee refund" on the Statement of Operations.

Dividends and Distributions to Shareholders

Distributions to shareholders are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Each Fund makes quarterly cash distributions to shareholders of a stated dollar amount per share. Subject to approval and oversight by the Funds' Board of Trustees, each Fund seeks to maintain a stable distribution level designed to deliver the long-term return potential of each Fund's investment strategy through regular quarterly distributions (a "Managed Distribution Program"). Total distributions during a calendar year generally will be made from each Fund's net investment income, net realized capital gains and net unrealized capital gains in the Fund's portfolio, if any. The portion of distributions paid attributed to net unrealized gains, if any, is distributed from the Fund's assets and is treated by shareholders as a non-taxable distribution ("Return of Capital") for tax purposes. In the event that total distributions during a calendar year exceed a Fund's total return on net asset value, the difference will reduce net asset value per share. If a Fund's total return on net asset value exceeds total distributions during a calendar year, the excess will be reflected as an increase in net asset value per share. The final determination of the source and character of all distributions for the fiscal year are made after the end of the fiscal year and are reflected in the financial statements contained in the annual report as of December 31 each year.

The actual character of distributions made by the Funds during the fiscal year ended December 31, 2012 are reflected in the accompanying financial statements.

The distributions made by each Fund during the six months ended June 30, 2013, are provisionally classified as being "From and in excess of net investment income," and those distributions will be classified as being from net investment income, net realized capital gains and/or a return of capital for tax purposes after the fiscal year end. For purposes of calculating "Undistributed (Over distribution of) net investment income" as of June 30, 2013, the distribution amounts provisionally classified as "From and in excess of net investment income" were treated as being entirely from net investment income. Consequently, the financial statements as of June 30, 2013, reflect an over-distribution of net investment income.

Indemnifications

Under the Funds' organizational documents, their officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts that provide general indemnifications to other parties. The Funds' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

Netting Agreements

In the ordinary course of business, the Funds have entered into transactions subject to enforceable netting agreements or other similar arrangements ("netting agreements"). Generally, the right to offset in netting agreements allows the Funds to offset any exposure to a specific counterparty with any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, the Funds manage their cash collateral and securities collateral on a counterparty basis. As of June 30, 2013, the Funds are not invested in any portfolio securities or derivative instruments, with gross exposures recognized on the Statement of Assets and Liabilities, that could be netted subject to the netting agreements.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results may differ from those estimates.

2. Investment Valuation and Fair Value Measurements

Investment Valuation

Common stocks and other equity-type securities are valued at the last sales price on the securities exchange on which such securities are primarily traded and are generally classified as Level 1 for fair value measurement purposes. Securities primarily traded on the NASDAQ National Market ("NASDAQ") are valued, except as indicated below, at the NASDAQ Official Closing Price and are generally classified as Level 1. However, securities traded on a securities exchange or NASDAQ for which there were no transactions on a given day or securities not listed on a securities exchange or NASDAQ are valued at the last quoted bid price and are generally classified as Level 2. Prices of certain American Depositary Receipts ("ADR") held by the Funds that trade in the United States are valued based on the last traded price, official closing price, or the most recent bid price of the

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55

Notes to

FINANCIAL STATEMENTS (Unaudited)(continued)

underlying non-U.S.-traded stock, adjusted as appropriate for the underlying-to-ADR conversion ratio and foreign exchange rate, and from time-to-time may also be adjusted further to take into account material events that may take place after the close of the local non-U.S. market but before the close of the NYSE. These securities may represent a transfer from a Level 1 to a Level 2 security.

Index options are valued at the 4:00 p.m. Eastern Time (ET) close price of the NYSE. The values of exchange-traded options are based on the mean of the closing bid and ask prices. Index and exchange-traded options are generally classified as Level 1. Options traded in the over-the-counter market are valued using an evaluated mean price and are generally classified as Level 2.

Repurchase agreements are valued at contract amount plus accrued interest, which approximates market value. These securities are generally classified as Level 2.

Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Funds' Board of Trustees or its designee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund's net asset value (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security's fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor's credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Funds' Board of Trustees or its designee.

Fair Value Measurements

Fair value is defined as the price that the Funds 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 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 risks associated with investing in those securities. The following is a summary of each Fund's fair value measurements as of the end of the reporting period:

Equity Premium Income (JPZ)	Level 1			Level 2		Level 3		Total
Long-Term Investments*:
Common Stocks	$	506,930,254		$	—	$	—	$	506,930,254
Short-Term Investments:
Repurchase Agreements		—			27,177,042		—		27,177,042
Derivatives:
Call Options Written		(10,747,655	)		—		—		(10,747,655	)
Total	$	496,182,599		$	27,177,042	$	—	$	523,359,641

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56

Equity Premium Opportunity (JSN)	Level 1			Level 2		Level 3		Total
Long-Term Investments*:
Common Stocks	$	861,463,440		$	—	$	—	$	861,463,440
Short-Term Investments:
Repurchase Agreements		—			53,080,000		—		53,080,000
Derivatives:
Call Options Written		(17,379,832	)		—		—		(17,379,832	)
Total	$	844,083,608		$	53,080,000	$	—	$	897,163,608
Equity Premium Advantage (JLA)	Level 1			Level 2		Level 3		Total
Long-Term Investments*:
Common Stocks	$	341,838,842		$	—	$	—	$	341,838,842
Short-Term Investments:
Repurchase Agreements		—			18,291,317		—		18,291,317
Derivatives:
Call Options Written		(6,583,700	)		—		—		(6,583,700	)
Total	$	335,255,142		$	18,291,317	$	—	$	353,546,459
Equity Premium and Growth (JPG)	Level 1			Level 2		Level 3		Total
Long-Term Investments*:
Common Stocks	$	236,560,296		$	—	$	—	$	236,560,296
Short-Term Investments:
Repurchase Agreements		—			12,512,566		—		12,512,566
Derivatives:
Call Options Written		(3,993,860	)		—		—		(3,993,860	)
Total	$	232,566,436		$	12,512,566	$	—	$	245,079,002

*  Refer to the Fund's Portfolio of Investments for industry classifications.

The Nuveen funds' Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser's Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds' pricing policies and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser's dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making a fair value determination, based on the facts and circumstances specific to the portfolio instrument. Fair value determinations generally will be derived as follows, using public or private market information:

(i.)  If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.

(ii.)  If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.

The purchase price of a portfolio instrument will be used to fair value the instrument only if no other valuation methodology is available or deemed appropriate, and it is determined that the purchase price fairly reflects the instrument's current value.

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Notes to

FINANCIAL STATEMENTS (Unaudited)(continued)

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.

3. Portfolio Securities and Investments in Derivatives

Portfolio Securities

Foreign Currency Transactions

To the extent that the Funds invest in securities and/or contracts that are denominated in a currency other than U.S. dollars, the Funds will be subject to currency risk, which is the risk that an increase in the U.S. dollar relative to the foreign currency will reduce returns or portfolio value. Generally, when the U.S. dollar rises in value against a foreign currency, the Funds' investments denominated in that currency will lose value because their currency is worth fewer U.S. dollars; the opposite effect occurs if the U.S. dollar falls in relative value. Investments and other assets and liabilities denominated in foreign currencies are converted into U.S. dollars on a spot (i.e. cash) basis at the spot rate prevailing in the foreign currency exchange market at the time of valuation. Purchases and sales of investments and income denominated in foreign currencies are translated into U.S. dollars on the respective dates of such transactions.

The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, assets and liabilities are translated into U.S. dollars at 4:00 p.m. ET. Investments transactions, income and expenses are translated on the respective dates of such transactions. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date of the transactions, foreign currency transactions, and the difference between the amounts of interest and dividends recorded on the books of the Funds and the amounts actually received.

The realized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with other assets and liabilities on investments are recognized as a component of "Net realized gain (loss) from investments and foreign currency," on the Statement of Operations, when applicable.

The unrealized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with other assets and liabilities on investments are recognized as a component of "Change in net unrealized appreciation (depreciation) of investments and foreign currency," on the Statement of Operations, when applicable. The unrealized gains and losses resulting from changes in foreign exchange rates associated with forward foreign currency exchange contracts, futures, options purchased, options written and swaps contracts are recognized as a component of "Change in net unrealized appreciation (depreciation) of foreign currency exchange contracts, futures, options purchased, options written and swap contracts, respectively" on the Statement of Operations, when applicable.

Repurchase Agreements

In connection with transactions in repurchase agreements, it is each Fund's policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

Investments in Derivatives

Each Fund is authorized to invest in certain derivative instruments, such as futures, options and swap contracts. Each Fund will limit its investments in futures, options on futures and swap contracts to the extent necessary for the Adviser to claim the exclusion from regulation by the Commodity Futures Trading Commission as a commodity pool operator with respect to the Fund. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds' investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.

Options Transactions

When the Fund writes an option, an amount equal to the net premium received (the premium less commission) is recognized as a component of "Call options written, at value" on the Statement of Assets and Liabilities and is subsequently adjusted to reflect the current value of the written option until the option is exercised or expires or the Fund enters into a closing purchase transaction. The changes in the value of options written during the fiscal period are recognized as a component of "Change in net unrealized appreciation (depreciation) of call options written" on the Statement of Operations. When an option is exercised or expires or a Fund enters into a closing purchase transaction, the difference between the net premium received and any amount paid at expiration or on executing a closing purchase transaction, including commission, is recognized as a component of "Net realized gain (loss) from call options written" on the Statement of Operations. The Fund, as a writer of an option, has no control over whether the underlying instrument may be sold (called) or purchased (put) and as a result bears the risk of an unfavorable change in the market value of the instrument underlying the written option. There is also the risk the Fund may not be able to enter into a closing transaction because of an illiquid market.

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During the six months ended June 30, 2013, each Fund wrote call options on a stock index, or a blend of stock indexes, while investing in a portfolio of equities, to enhance returns while foregoing some upside potential of its equity portfolio. Equity Premium Income (JPZ) and Equity Premium and Growth (JPG) wrote call options on the S&P 500^® Index. Equity Premium Opportunity (JSN) and Equity Premium Advantage (JLA) wrote call options on a blend of the S&P 500^® and NASDAQ 100 Indexes.

The average notional amount of outstanding call options written during the six months ended June 30, 2013, for each Fund was as follows:

	Equity Premium Income (JPZ)			Equity Premium Opportunity (JSN)			Equity Premium Advantage (JLA)			Equity Premium and Growth (JPG)
Average notional amount of outstanding call options written*	$	(497,240,333	)	$	(852,402,333	)	$	(337,808,250	)	$	(185,909,667	)

*  The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year.

The following table presents the fair value of all options held by the Funds as of June 30, 2013, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure.

		Location on the Statement of Assets and Liabilities
Underlying	Derivative	Asset Derivatives				(Liability) Derivatives
Risk Exposure	Instrument	Location		Value		Location	Value
Equity Premium Income (JPZ)
Equity price	Options		—	$	—	Call options written, at value	$	(10,747,655	)
Equity Premium Opportunity (JSN)
Equity price	Options		—	$	—	Call options written, at value	$	(17,379,832	)
Equity Premium Advantage (JLA)
Equity price	Options		—	$	—	Call options written, at value	$	(6,583,700	)
Equity Premium and Growth (JPG)
Equity price	Options		—	$	—	Call options written, at value	$	(3,993,860	)

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized for the six months ended June 30, 2013, on options, and the primary underlying risk exposure.

Fund	Underlying Risk Exposure	Derivative Instrument	Net Realized Gain (Loss)			Change in Net Unrealized Appreciation (Depreciation)
Equity Premium Income (JPZ)	Equity price	Options	$	(38,150,553	)	$	3,193,269
Equity Premium Opportunity (JSN)	Equity price	Options		(59,185,337	)		5,737,162
Equity Premium Advantage (JLA)	Equity price	Options		(19,958,939	)		2,017,548
Equity Premium and Growth (JPG)	Equity price	Options		(14,428,739	)		1,267,500

Market and Counterparty Credit Risk

In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund's exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities. Credit risk is generally higher when a non-exchange-traded financial instrument is involved because the counterparty for exchange-traded financial instruments is the exchange's clearinghouse.

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.

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Notes to

FINANCIAL STATEMENTS (Unaudited)(continued)

4. Fund Shares

Transactions in shares were as follows:

	Equity Premium Income (JPZ)						Equity Premium Opportunity (JSN)
	Six Months Ended 6/30/13			Year Ended 12/31/12			Six Months Ended 6/30/13			Year Ended 12/31/12
Shares repurchased and retired		—			(17,662	)		—			(4,700	)
Weighted average:
Price per share repurchased and retired	$	—		$	11.50		$	—		$	11.31
Discount per share repurchased and retired		—	%		19.37	%		—	%		12.12	%
	Equity Premium Advantage (JLA)						Equity Premium and Growth (JPG)
	Six Months Ended 6/30/13			Year Ended 12/31/12			Six Months Ended 6/30/13			Year Ended 12/31/12
Shares repurchased and retired		—			(75,394	)		—			(13,800	)
Weighted average:
Price per share repurchased and retired	$	—		$	11.83		$	—		$	12.60
Discount per share repurchased and retired		—	%		12.36	%		—	%		11.72	%

5. Investment Transactions

Purchases and sales (excluding short-term investments and derivative transactions) during the six months ended June 30, 2013, were as follows:

	Equity Premium Income (JPZ)		Equity Premium Opportunity (JSN)		Equity Premium Advantage (JLA)		Equity Premium and Growth (JPG)
Purchases	$	1,302,494	$	7,076,281	$	11,665,763	$	—
Sales		54,809,295		109,689,401		45,486,120		24,627,413

Transactions in call options written during the six months ended June 30, 2013, were as follows:

	Equity Premium Income (JPZ)						Equity Premium Opportunity (JSN)
	Number of Contracts			Premiums Received			Number of Contracts			Premiums Received
Options outstanding, beginning of period		3,475		$	12,043,556			12,388		$	21,157,896
Options written		15,169			47,425,924			53,162			82,516,183
Options terminated in closing purchase transactions		(15,514	)		(47,147,325	)		(54,200	)		(83,221,369	)
Options outstanding, end of period		3,130		$	12,322,155			11,350		$	20,452,710
	Equity Premium Advantage (JLA)						Equity Premium and Growth (JPG)
	Number of Contracts			Premiums Received			Number of Contracts			Premiums Received
Options outstanding, beginning of period		7,522		$	8,436,242			1,303		$	4,537,048
Options written		31,615			32,917,532			5,670			17,707,957
Options terminated in closing purchase transactions		(32,255	)		(33,388,594	)		(5,804	)		(17,649,577	)
Options outstanding, end of period		6,882		$	7,965,180			1,169		$	4,595,428

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6. Income Tax Information

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its investment company taxable income to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. In any year when the Funds realize net capital gains, each Fund may choose to distribute all or a portion of its net capital gains to shareholders, or alternatively, to retain all or a portion of its net capital gains and pay federal corporate income taxes on such retained gains.

For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

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 as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset values of the Funds.

As of June 30, 2013, the cost and unrealized appreciation (depreciation) of investments (excluding investments in derivatives), as determined on a federal income tax basis, were as follows:

	Equity Premium Income (JPZ)			Equity Premium Opportunity (JSN)			Equity Premium Advantage (JLA)			Equity Premium and Growth (JPG)
Cost of investments	$	375,747,655		$	611,713,405		$	222,919,736		$	178,982,358
Gross unrealized:
Appreciation	$	195,110,412		$	335,562,182		$	138,973,107		$	84,563,184
Depreciation		(36,750,771	)		(32,732,147	)		(1,762,684	)		(14,472,680	)
Net unrealized appreciation (depreciation) of investments	$	158,359,641		$	302,830,035		$	137,210,423		$	70,090,504

Permanent differences, primarily due to Real Estate Investment Trust (REIT) adjustments, reclassification of litigation proceeds, return of capital distributions and tax basis earnings and profit adjustments resulted in reclassifications among the Funds' components of net assets as of December 31, 2012, the Funds' last tax year-end, as follows:

	Equity Premium Income (JPZ)			Equity Premium Opportunity (JSN)			Equity Premium Advantage (JLA)			Equity Premium and Growth (JPG)
Paid-in surplus	$	(32,237,929	)	$	(60,798,194	)	$	(25,537,800	)	$	(13,960,625	)
Undistributed (Over-distribution of) net investment income		32,292,302			61,267,634			25,593,271			14,027,431
Accumulated net realized gain (loss)		(54,373	)		(469,440	)		(55,471	)		(66,806	)

The tax components of undistributed net ordinary income and net long-term capital gains as of December 31, 2012, the Funds' last tax year end, were as follows:

	Equity Premium Income (JPZ)		Equity Premium Opportunity (JSN)		Equity Premium Advantage (JLA)		Equity Premium and Growth (JPG)
Undistributed net ordinary income	$	—	$	—	$	—	$	—
Undistributed net long-term capital gains		—		—		—		—

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Notes to

FINANCIAL STATEMENTS (Unaudited)(continued)

The tax character of distributions paid during the Funds' last tax year ended December 31, 2012, was designated for purposes of the dividends paid deduction as follows:

	Equity Premium Income (JPZ)		Equity Premium Opportunity (JSN)		Equity Premium Advantage (JLA)		Equity Premium and Growth (JPG)
Distributions from net ordinary income*	$	9,513,512	$	13,421,449	$	5,357,420	$	4,142,189
Distributions from net long-term capital gains		—		—		—		—
Return of capital		32,189,236		60,782,807		23,850,406		13,959,339

*  Net ordinary income consists of net taxable income derived from dividends, interest and current year earnings and profits attributed to realized gains.

As of December 31, 2012, the Funds' last tax year end, the Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as follows:

	Equity Premium Income (JPZ)		Equity Premium Opportunity (JSN)		Equity Premium Advantage (JLA)		Equity Premium and Growth (JPG)
Expiration:
December 31, 2017	$	55,219,862	$	47,988,639	$	25,262,705	$	30,503,738
December 31, 2018		4,958,903		38,327,754		14,352,958		7,655,485
Total	$	60,178,765	$	86,316,393	$	39,615,663	$	38,159,223

During the Funds' last tax year ended December 31, 2012, the following Fund utilized its capital loss carryforwards as follows:

	Equity Premium Advantage (JLA)
Utilized capital loss carryforwards	$	1,694,153

Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by a Fund after December 31, 2010, will not be subject to expiration. During the Funds' last tax year ended December 31, 2012, the following Funds generated post-enactment capital losses as follows:

	Equity Premium Income (JPZ)		Equity Premium Opportunity (JSN)		Equity Premium and Growth (JPG)
Post-enactment losses:
Short-term	$	7,288,963	$	10,105,025	$	2,770,620
Long-term		649,615		—		1,940,680

The Funds have elected to defer losses incurred from November 1, 2012 through December 31, 2012, the Funds' last tax year end, in accordance with federal income tax rules. These losses are treated as having arisen on the first day of the current fiscal year. The Funds have elected to defer losses as follows:

	Equity Premium Income (JPZ)		Equity Premium Opportunity (JSN)		Equity Premium Advantage (JLA)		Equity Premium and Growth (JPG)
Post-October capital losses	$	1,673,731	$	5,340,042	$	1,649,058	$	990,831
Late-year ordinary losses		—		—		—		—

7. Management Fees and Other Transactions with Affiliates

The management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. Gateway is compensated for its services to the Funds from the management fees paid to the Adviser.

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Each Fund's management fee consists of two components—a fund-level fee, based only on the amount of assets within the Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables Fund shareholders to benefit from growth in the assets within their respective Funds as well as from growth in the amount of complex-wide assets managed by the Adviser.

The annual fund-level fee for each Fund, payable monthly, is calculated according to the following schedule:

Average Daily Managed Assets*	Equity Premium Income (JPZ) Equity Premium Opportunity (JSN) Equity Premium Advantage (JLA) Fund-Level Fee Rate
For the first $500 million		.7000	%
For the next $500 million		.6750
For the next $500 million		.6500
For the next $500 million		.6250
For managed assets over $2 billion		.6000
Average Daily Managed Assets*	Equity Premium and Growth (JPG) Fund-Level Fee Rate
For the first $500 million		.6800	%
For the next $500 million		.6550
For the next $500 million		.6300
For the next $500 million		.6050
For managed assets over $2 billion		.5800

The annual complex-level fee for each Fund, payable monthly, is calculated according to the following schedule:

Complex-Level Managed Asset Breakpoint Level*	Effective Rate at Breakpoint Level
$55 billion		.2000	%
$56 billion		.1996
$57 billion		.1989
$60 billion		.1961
$63 billion		.1931
$66 billion		.1900
$71 billion		.1851
$76 billion		.1806
$80 billion		.1773
$91 billion		.1691
$125 billion		.1599
$200 billion		.1505
$250 billion		.1469
$300 billion		.1445

*  For the fund-level and complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the funds' use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen Funds that constitute "eligible assets." Eligible assets do not include assets attributable to investments in other Nuveen Funds and assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser's assumption of the management of the former First American Funds effective January 1, 2011. As of June 30, 2013, the complex-level fee rate for each of these Funds was .1679%.

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Notes to

FINANCIAL STATEMENTS (Unaudited)(continued)

The Funds pay no compensation directly to those of its trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to the Funds from the Adviser or its affiliates. The Board of Trustees has adopted a deferred compensation plan for independent trustees that enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.

For the first eight years of Equity Premium Opportunity's (JSN) operations, the Adviser has agreed to reimburse the Fund, as a percentage of average daily managed assets, for fees and expenses in the amounts and for the time periods set forth below:

Year Ending January 31,					Year Ending January 31,
	2005	*	.30	%		2010	.30	%
	2006		.30			2011	.22
	2007		.30			2012	.14
	2008		.30			2013	.07
	2009		.30

*  From the commencement of operations.

The Adviser has not agreed to reimburse Equity Premium Opportunity (JSN) for any portion of its fees and expenses beyond January 31, 2013.

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Annual Investment Management
Agreement Approval Process (Unaudited)

The Board of Trustees (each, a "Board" and each Trustee, a "Board Member") of the Funds, including the Board Members who are not parties to the Funds' advisory or sub-advisory agreements or "interested persons" of any such parties (the "Independent Board Members"), is responsible for approving the advisory agreements (each, an "Investment Management Agreement") between each Fund and Nuveen Fund Advisors, LLC (the "Advisor") and the sub-advisory agreements (each, a "Sub-Advisory Agreement") between the Advisor and Gateway Investment Advisers, LLC (the "Sub-Advisor") (the Investment Management Agreements and the Sub-Advisory Agreements are referred to collectively as the "Advisory Agreements") and their periodic continuation. Pursuant to the Investment Company Act of 1940, as amended (the "1940 Act"), the Board is required to consider the continuation of the Advisory Agreements on an annual basis. Accordingly, at an in-person meeting held on May 20-22, 2013 (the "May Meeting"), the Board, including a majority of the Independent Board Members, considered and approved the continuation of the Advisory Agreements for the Funds for an additional one-year period.

In preparation for its considerations at the May Meeting, the Board requested and received extensive materials prepared in connection with the review of the Advisory Agreements. The materials provided a broad range of information regarding the Funds, the Advisor and the Sub-Advisor (the Advisor and the Sub-Advisor are collectively, the "Fund Advisers" and each, a "Fund Adviser"). As described in more detail below, the information provided included, among other things, a review of Fund performance, including Fund investment performance assessments against peer groups and appropriate benchmarks; a comparison of Fund fees and expenses relative to peers; a description and assessment of shareholder service levels for the Funds; a summary of the performance of certain service providers; a review of product initiatives and shareholder communications; and an analysis of the Advisor's profitability with comparisons to comparable peers in the managed fund business. As part of its annual review, the Board also held a separate meeting on April 17-18, 2013, to review the Funds' investment performance and consider an analysis provided by the Advisor of the Sub-Advisor which generally evaluated the Sub-Advisor's investment team, investment mandate, organizational structure and history, investment philosophy and process, performance of the applicable Fund, and significant changes to the foregoing. As a result of its review of the materials and discussions, the Board presented the Advisor with questions and the Advisor responded.

The materials and information prepared in connection with the annual review of the Advisory Agreements supplement the information and analysis provided to the Board during the year. In this regard, throughout the year, the Board, acting directly or through its committees, regularly reviews the performance and various services provided by the Advisor and the Sub-Advisor. The Board meets at least quarterly as well as at other times as the need arises. At its quarterly meetings, the Board reviews reports by the Advisor regarding, among other things, fund performance, fund expenses, premium and discount levels of closed-end funds, the performance of the investment teams, and compliance, regulatory and risk management matters. In addition to regular reports, the Advisor provides special reports to the Board or a committee thereof from time to time to enhance the Board's understanding of various topics that impact some or all the Nuveen funds (such as accounting and financial statement presentations of the various forms of leverage that may be used by a closed-end fund or an update on the valuation policies and procedures), to update the Board on regulatory developments impacting the investment company industry or to update the Board on the business plans or other matters impacting the Advisor. The Board also meets with key investment personnel managing the fund portfolios during the year. In October 2011, the Board also created two standing committees (the Open-End Fund Committee and the Closed-End Fund Committee) to assist the full Board in monitoring and gaining a deeper insight into the distinctive business practices of open-end and closed-end funds. These Committees meet prior to each quarterly Board meeting, and the Advisor provides presentations to these Committees permitting them to delve further into specific matters or initiatives impacting the respective product line.

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Annual Investment Management Agreement
Approval Process (Unaudited) (continued)

In addition, the Board continues its program of seeking to have the Board Members or a subset thereof visit each sub-advisor to the Nuveen funds at least once over a multiple year rotation, meeting with key investment and business personnel. In this regard, the Independent Board Members made a site visit to the Sub-Advisor in June 2012. In addition, the ad hoc Securities Lending Committee of the Board met with certain service providers and the Audit Committee of the Board made a site visit to three pricing service providers.

The Board considers the information provided and knowledge gained at these meetings and visits during the year when performing its annual review of the Advisory Agreements. The Independent Board Members also are assisted throughout the process by independent legal counsel. Counsel provided materials describing applicable law and the duties of directors or trustees in reviewing advisory contracts. During the course of the year and during their deliberations regarding the review of advisory contracts, the Independent Board Members met with independent legal counsel in executive sessions without management present. In addition, it is important to recognize that the management arrangements for the Nuveen funds are the result of many years of review and discussion between the Independent Board Members and fund management and that the Board Members' conclusions may be based, in part, on their consideration of fee arrangements and other factors developed in previous years.

The Board considered all factors it believed relevant with respect to each Fund, including among other factors: (a) the nature, extent and quality of the services provided by the Fund Advisers, (b) the investment performance of the Fund and Fund Advisers, (c) the advisory fees and costs of the services to be provided to the Fund and the profitability of the Fund Advisers, (d) the extent of any economies of scale, (e) any benefits derived by the Fund Advisers from the relationship with the Fund and (f) other factors. Each Board Member may have accorded different weight to the various factors in reaching his or her conclusions with respect to a Fund's Advisory Agreements. The Independent Board Members did not identify any single factor as all important or controlling. The Independent Board Members' considerations were instead based on a comprehensive consideration of all the information presented. The principal factors considered by the Board and its conclusions are described below.

A. Nature, Extent and Quality of Services

In considering renewal of the Advisory Agreements, the Independent Board Members considered the nature, extent and quality of the Fund Adviser's services, including advisory services and the resulting Fund performance and administrative services. The Independent Board Members further considered the overall reputation and capabilities of the Advisor and its affiliates, the commitment of the Advisor to provide high quality service to the Funds, their overall confidence in the capability and integrity of the Advisor and its staff and the Advisor's responsiveness to questions and concerns raised by them. The Independent Board Members reviewed materials outlining, among other things, the Fund Adviser's organization and business; the types of services that the Fund Adviser or its affiliates provide to the Funds; the performance record of the applicable Fund (as described in further detail below); and any applicable initiatives Nuveen had taken for the closed-end fund product line.

In considering advisory services, the Board recognized that the Advisor provides various oversight, administrative, compliance and other services for the Funds and the Sub-Advisor generally provides the portfolio investment management services to the Funds. In reviewing the portfolio management services provided to each Fund, the Board reviewed the materials provided by the Nuveen Investment Services Oversight Team analyzing, among other things, the Sub-Advisor's investment team and changes thereto, organization and history, assets under management, the investment team's philosophy and strategies in managing the Fund, developments affecting the Sub-Advisor or Fund and Fund performance. The Independent Board Members also reviewed portfolio manager compensation arrangements to evaluate each Fund Adviser's ability to attract and retain high quality investment personnel, preserve stability, and reward performance but not provide an inappropriate incentive to take undue risks. In addition, the Board considered the Advisor's execution of its oversight responsibilities over the Sub-Advisor. Given the importance of compliance, the Independent Board Members

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also considered Nuveen's compliance program, including the report of the chief compliance officer regarding the Funds' compliance policies and procedures; the resources dedicated to compliance; and the record of compliance with the policies and procedures. Given the Advisor's emphasis on business risk, the Board also appointed an Independent Board Member as a point person to review and keep the Board apprised of developments in this area during the year.

In addition to advisory services, the Board considered the quality and extent of administrative and other non-investment advisory services the Advisor and its affiliates provide to the Funds, including product management, investment services (such as oversight of investment policies and procedures, risk management, and pricing), fund administration, oversight of service providers, shareholder services and communications, administration of Board relations, regulatory and portfolio compliance, legal support, managing leverage and promoting an orderly secondary market for common shares. The Board further recognized Nuveen's additional investments in personnel, including in compliance and risk management.

In reviewing the services provided, the Board considered the new services and service enhancements that the Advisor has implemented since the various advisory agreements were last reviewed. In reviewing the activities of 2012, the Board recognized the Advisor's focus on product rationalization for both closed-end and open-end funds during the year, consolidating certain Nuveen funds through mergers that were designed to improve efficiencies and economies of scale for shareholders, repositioning various Nuveen funds through updates in their investment policies and guidelines with the expectation of bringing greater value to shareholders, and liquidating certain Nuveen funds. The Board recognized the Advisor's significant investment in technology initiatives to, among other things, create a central repository for fund and other Nuveen product data, develop a group within the Advisor designed to handle and analyze fund performance data, and implement a data system to support the risk oversight group. The Board also recognized the enhancements in the valuation group within the Advisor, including upgrading the team and process and automating certain basic systems, and in the compliance group with the addition of personnel, particularly within the testing group. With the advent of the Open-End Fund Committee and Closed-End Fund Committee, the Board also noted the enhanced support and comprehensive in-depth presentations provided by the Advisor to these committees.

In addition to the foregoing actions, the Board also considered other initiatives related to the Nuveen closed-end funds, including the significant level of oversight and administration necessary to manage leverage that has become increasingly varied and complex and the ongoing redesign of technology systems to manage and track the various forms of leverage; continued capital management services, including developing shelf offering programs for various funds; the implementation of projects designed to enhance data integrity for information published on the web and to increase the use of data received from third parties to gain market intelligence; and the continued communication efforts with shareholders, fund analysts and financial advisers. With respect to the latter, the Independent Board Members noted Nuveen's continued commitment to supporting the secondary market for the common shares of its closed-end funds through a comprehensive secondary market communication program and campaigns designed to raise investor and analyst awareness and understanding of closed-end funds. Nuveen's support services included, among other things: developing materials covering the Nuveen closed-end fund product line and educational materials regarding closed-end funds; designing and executing various marketing campaigns; supporting and promoting the alternative minimum tax (AMT)-free funds; sponsoring and participating in conferences; communicating with closed-end fund analysts and financial advisors throughout the year; providing marketing and product updates for the closed-end funds; and maintaining and enhancing a closed-end fund website.

Based on their review, the Independent Board Members found that, overall, the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement were satisfactory.

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Annual Investment Management Agreement
Approval Process (Unaudited) (continued)

B. The Investment Performance of the Funds and Fund Advisers

The Board, including the Independent Board Members, considered the performance history of each Fund over various time periods. The Board reviewed reports, including an analysis of the Funds' performance and the applicable investment team. In general, in considering a fund's performance, the Board recognized that a fund's performance can be reviewed through various measures including the fund's absolute return, the fund's return compared to the performance of other peer funds, and the fund's performance compared to its respective benchmark. Accordingly, the Board reviewed, among other things, each Fund's historic investment performance as well as information comparing the Fund's performance information with that of other funds (the "Performance Peer Group") and with recognized and/or customized benchmarks (i.e., benchmarks derived from multiple recognized benchmarks) for the quarter, one-, three- and five-year periods ending December 31, 2012 as well as performance information reflecting the first quarter of 2013. In addition, with respect to closed-end funds (such as the Funds), the Independent Board Members also reviewed historic premium and discount levels, including a summary of actions taken to address or discuss other developments affecting the secondary market discounts of various funds. This information supplemented the fund performance information provided to the Board at each of its quarterly meetings.

In evaluating performance, the Board recognized several factors that may impact the performance data as well as the consideration given to particular performance data. The Board recognized that the performance data reflects a snapshot of time, in this case as of the end of the most recent calendar year or quarter. The Board noted that selecting a different performance period could derive significantly different results. Further, the Board recognized that it is possible that long-term performance can be adversely affected by even one period of significant underperformance so that a single investment decision or theme has the ability to disproportionately affect long-term performance. The Independent Board Members also noted that the investment experience of a particular shareholder in the Nuveen funds will vary depending on when such shareholder invests in the applicable fund, the class held (if multiple classes are offered in a fund) and the performance of the fund (or respective class) during that shareholder's investment period.

With respect to the comparative performance information, the Board recognized that the usefulness of comparative performance data as a frame of reference to measure a fund's performance may be limited because the Performance Peer Group, among other things, does not adequately reflect the objectives and strategies of the fund, has a different investable universe, or the composition of the peer set may be limited in size or number as well as other factors. In this regard, the Board noted that the Advisor classified, in relevant part, the Performance Peer Groups of certain funds (including the Funds) as having significant differences from the funds but to still be somewhat relevant while the Performance Peer Groups of other funds were classified as having such significant differences as to be irrelevant. Accordingly, while the Board is cognizant of the relative performance of a fund's peer set and/or benchmark(s), the Board evaluated fund performance in light of the respective fund's investment objectives, investment parameters and guidelines and considered that the variations between the objectives and investment parameters or guidelines of the funds with their peers and/or benchmarks result in differences in performance results. In addition, with respect to any Nuveen funds for which the Board has identified performance concerns, the Board monitors such funds closely until performance improves, discusses with the Advisor the reasons for such results, considers those steps necessary or appropriate to address such issues, and reviews the results of any efforts undertaken.

In considering the performance data for the Funds, the Independent Board Members noted that the Nuveen Equity Premium and Growth Fund (the "Equity Premium and Growth Fund") had demonstrated generally favorable performance in comparison to peers, performing in the first or second quartile over various periods. They also observed that the Equity Premium and Growth Fund outperformed its passive overwrite benchmark for the one-, three- and five-year periods. In addition, the Independent Board Members noted that each of the other Funds lagged its peers somewhat in the shorter periods, but demonstrated more favorable performance in the longer periods. In this regard, although the Nuveen Equity Premium Income Fund (the "Equity Premium Income Fund") performed in the third quartile for the

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68

one-year period, such Fund performed in the second quartile for the three- and five-year periods. Although the Nuveen Equity Premium Opportunity Fund (the "Equity Premium Opportunity Fund") and the Nuveen Equity Premium Advantage Fund (the "Equity Premium Advantage Fund") each performed in the fourth quartile in the one-year period, each such Fund performed in the second quartile for the three- and five-year periods. With respect to the Equity Premium Income Fund, the Equity Premium Opportunity Fund and the Equity Premium Advantage Fund, the Board also noted that the differences in the overwrite strategies applied by such Funds compared to peers generally contributed to the lower peer comparison during a rising equity market. Nevertheless, such Funds outperformed their passive overwrite benchmarks in the one-, three- and five-year periods.

Based on their review, the Independent Board Members determined that each Fund's investment performance had been satisfactory.

C. Fees, Expenses and Profitability

1. Fees and Expenses

The Board evaluated the management fees and expenses of each Fund reviewing, among other things, such Fund's gross management fee, net management fee and net expense ratio in absolute terms as well as compared to the fees and expenses of a comparable universe of funds provided by an independent fund data provider (the "Peer Universe") and any expense limitations.

The Independent Board Members further reviewed the methodology regarding the construction of the applicable Peer Universe. In reviewing the comparisons of fee and expense information, the Independent Board Members took into account that in certain instances various factors such as: the limited size and particular composition of the Peer Universe (including the inclusion of other Nuveen funds in the peer set); expense anomalies; changes in the funds comprising the Peer Universe from year to year; levels of reimbursement or fee waivers; the timing of information used; and the differences in the type and use of leverage may impact the comparative data, thereby limiting somewhat the ability to make a meaningful comparison with peers.

In reviewing the fee schedule for a Fund, the Independent Board Members also considered the fund-level and complex-wide breakpoint schedules (described in further detail below) and any fee waivers and reimbursements provided by Nuveen. In reviewing fees and expenses (excluding leverage costs and leveraged assets, as applicable), the Board considered the expenses and fees to be higher if they were over 10 basis points higher, slightly higher if they were approximately 6 to 10 basis points higher, in line if they were within approximately 5 basis points higher than the peer average and below if they were below the peer average of the Peer Universe. In reviewing the reports, the Board noted that the majority of the Nuveen funds were at, close to or below their peer set average based on the net total expense ratio.

The Independent Board Members noted that the Funds had net management fees and net expense ratios (including fee waivers and expense reimbursements) that were below their peer averages.

Based on their review of the fee and expense information provided, the Independent Board Members determined that each Fund's management fees were reasonable in light of the nature, extent and quality of services provided to the Fund.

2. Comparisons with the Fees of Other Clients

The Board recognized that all Nuveen funds have a sub-advisor (which, in the case of the Funds, is a non-affiliated sub-advisor), and therefore, the overall fund management fee can be divided into two components, the fee retained by the Advisor and the fee paid to the sub-advisor. In general terms, the fee to the Advisor reflects the administrative services it provides to support the funds, and while some administrative services may occur at the sub-advisor

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Annual Investment Management Agreement
Approval Process (Unaudited) (continued)

level, the fee generally reflects the portfolio management services provided by the sub-advisor. The Independent Board Members reviewed information regarding the nature of services provided by the Advisor (including through its affiliated sub-advisors), and the range of fees and average fee such sub-advisors assessed for such services to other clients. Such other clients include separately managed accounts (both retail and institutional accounts), hedge funds, foreign investment funds offered by Nuveen and funds that are not offered by Nuveen but are sub-advised by one of Nuveen's investment management teams. In evaluating the comparisons of fees, the Independent Board Members noted that the fee rates charged to the Funds and other clients vary, among other things, because of the different services involved and the additional regulatory and compliance requirements associated with registered investment companies, such as the Funds. Accordingly, the Independent Board Members considered the differences in the product types, including, but not limited to, the services provided, the structure and operations, product distribution and costs thereof, portfolio investment policies, investor profiles, account sizes and regulatory requirements. The Independent Board Members noted, in particular, that the range of services provided to the Funds (as discussed above) is much more extensive than that provided to separately managed accounts. Many of the additional administrative services provided by the Advisor are not required for institutional clients. The Independent Board Members further noted that the management fee rates of the foreign funds advised by the Advisor may vary due to, among other things, differences in the client base, governing bodies, operational complexities and services covered by the management fee. Given the inherent differences in the various products, particularly the extensive services provided to the Funds, the Independent Board Members believe such facts justify the different levels of fees.

In considering the fees of the Sub-Advisor, the Independent Board Members also considered the pricing schedule or fees that the Sub-Advisor charges for other clients. The Independent Board Members noted that the Funds' sub-advisory fees were the result of arm's-length negotiations. The Independent Board Members further noted that the fees paid to the Sub-Advisor for its sub-advisory services were at or below the low end of its average fees earned.

3. Profitability of Fund Advisers

In conjunction with their review of fees, the Independent Board Members also considered the profitability of Nuveen for its advisory activities and its financial condition. The Independent Board Members reviewed the revenues and expenses of Nuveen's advisory activities for the last two calendar years, the allocation methodology used in preparing the profitability data and an analysis of the key drivers behind the changes in revenues and expenses that impacted profitability in 2012. The Independent Board Members noted this information supplemented the profitability information requested and received during the year to help keep them apprised of developments affecting profitability (such as changes in fee waivers and expense reimbursement commitments). In this regard, the Independent Board Members noted that they have an Independent Board Member serve as a point person to review and keep them apprised of changes to the profitability analysis and/or methodologies during the year. The Independent Board Members also considered Nuveen's revenues for advisory activities, expenses, and profit margin compared to that of various unaffiliated management firms with comparable assets under management (based on asset size and asset composition).

In reviewing profitability, the Independent Board Members recognized the Advisor's continued investment in its business to enhance its services, including capital improvements to investment technology, updated compliance systems, and additional personnel. In addition, in evaluating profitability, the Independent Board Members also recognized the subjective nature of determining profitability which may be affected by numerous factors including the allocation of expenses and that various allocation methodologies may each be reasonable but yield different results. Further, the Independent Board Members recognized the difficulties in making comparisons as the profitability of other advisers generally is not publicly available and the profitability information that is available for certain advisers or management firms may not be representative of the industry and may be affected by, among

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70

other things, the adviser's particular business mix, capital costs, types of funds managed and expense allocations. Notwithstanding the foregoing, the Independent Board Members reviewed Nuveen's methodology and assumptions for allocating expenses across product lines to determine profitability. Based on their review, the Independent Board Members concluded that the Advisor's level of profitability for its advisory activities was reasonable in light of the services provided.

The Independent Board Members also considered the Sub-Advisor's revenues, expenses and profitability margins for its advisory activities with the Funds. Based on their review, the Independent Board Members were satisfied that the Sub-Advisor's level of profitability was reasonable in light of the services provided.

In evaluating the reasonableness of the compensation, the Independent Board Members also considered other amounts paid to a Fund Adviser by the Funds as well as indirect benefits (such as soft dollar arrangements), if any, the Fund Adviser and its affiliates receive, or are expected to receive, that are directly attributable to the management of the Funds. See Section E below for additional information on indirect benefits a Fund Adviser may receive as a result of its relationship with the Funds. Based on their review of the overall fee arrangements of each Fund, the Independent Board Members determined that the advisory fees and expenses of the respective Fund were reasonable.

D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale

With respect to economies of scale, the Independent Board Members have recognized the potential benefits resulting from the costs of a fund being spread over a larger asset base, although economies of scale are difficult to measure and predict with precision, particularly on a fund-by-fund basis. One method to help ensure the shareholders share in these benefits is to include breakpoints in the advisory fee schedule. Generally, management fees for funds in the Nuveen complex are comprised of a fund-level component and a complex-level component, subject to certain exceptions. Accordingly, the Independent Board Members reviewed and considered the applicable fund-level breakpoints in the advisory fee schedules that reduce advisory fees as asset levels increase. Further, the Independent Board Members noted that although closed-end funds may from time-to-time make additional share offerings, the growth of their assets will occur primarily through the appreciation of such funds' investment portfolio.

In addition to fund-level advisory fee breakpoints, the Board also considered the Funds' complex-wide fee arrangement. Pursuant to the complex-wide fee arrangement, the fees of the funds in the Nuveen complex are generally reduced as the assets in the fund complex reach certain levels. The complex-wide fee arrangement seeks to provide the benefits of economies of scale to fund shareholders when total fund complex assets increase, even if assets of a particular fund are unchanged or have decreased. The approach reflects the notion that some of Nuveen's costs are attributable to services provided to all its funds in the complex and therefore all funds benefit if these costs are spread over a larger asset base. In addition, with the acquisition of the funds previously advised by FAF Advisors, Inc. at the end of 2010, the Board noted that a portion of such funds' assets at the time of acquisition were deemed eligible to be included in the complex-wide fee calculation in order to deliver fee savings to shareholders in the combined complex and such funds were subject to differing complex-level fee rates.

Based on their review, the Independent Board Members concluded that the breakpoint schedules and complex-wide fee arrangement were acceptable and reflect economies of scale to be shared with shareholders when assets under management increase.

E. Indirect Benefits

In evaluating fees, the Independent Board Members received and considered information regarding potential "fall out" or ancillary benefits the respective Fund Adviser or its affiliates may receive as a result of its relationship with each Fund. In this regard, the Independent Board Members considered any revenues received by affiliates of the Advisor for serving

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Annual Investment Management Agreement
Approval Process (Unaudited) (continued)

as co-manager in initial public offerings of new closed-end funds as well as revenues received in connection with secondary offerings.

In addition to the above, the Independent Board Members considered whether the Fund Advisers received any benefits from soft dollar arrangements whereby a portion of the commissions paid by a Fund for brokerage may be used to acquire research that may be useful to the Fund Adviser in managing the assets of the Funds and other clients. The Funds' portfolio transactions are determined by the Sub-Advisor. The Independent Board Members considered that while the Sub-Advisor may select brokers that provide it with research services, it is the Sub-Advisor's current practice not to receive soft dollar credits in connection with trades executed for the Nuveen funds it advises. Such funds, however, may participate in transactions in which the Sub-Advisor has received unsolicited proprietary research.

Based on their review, the Independent Board Members concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable and within acceptable parameters.

F. Other Considerations

The Independent Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members, including the Independent Board Members, unanimously concluded that the terms of each Advisory Agreement are fair and reasonable, that the respective Fund Adviser's fees are reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed.

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Reinvest Automatically,
Easily and Conveniently

Nuveen makes reinvesting easy. A phone call is all it takes to set up your reinvestment account.

Nuveen Closed-End Funds Automatic Reinvestment Plan

Your Nuveen Closed-End Fund allows you to conveniently reinvest distributions in additional Fund shares.

By choosing to reinvest, you'll be able to invest money regularly and automatically, and watch your investment grow through the power of compounding. Just like distributions in cash, there may be times when income or capital gains taxes may be payable on distributions that are reinvested.

It is important to note that an automatic reinvestment plan does not ensure a profit, nor does it protect you against loss in a declining market.

Easy and convenient

To make recordkeeping easy and convenient, each quarter you'll receive a statement showing your total distributions, the date of investment, the shares acquired and the price per share, and the total number of shares you own.

How shares are purchased

The shares you acquire by reinvesting will either be purchased on the open market or newly issued by the Fund. If the shares are trading at or above net asset value at the time of valuation, the Fund will issue new shares at the greater of the net asset value or 95% of the then-current market price. If the shares are trading at less than net asset value, shares for your account will be purchased on the open market. If the Plan Agent begins purchasing Fund shares on the open market while shares are trading below net asset value, but the Fund's shares subsequently trade at or above their net asset value before the Plan Agent is able to complete its purchases, the Plan Agent may cease open-market purchases and may invest the uninvested portion of the distribution in newly-issued Fund shares at a price equal to the greater of the shares' net asset value or 95% of the shares' market value on the last business day immediately prior to the purchase date. Distributions received to purchase shares in the open market will normally be invested shortly after the distribution payment date. No interest will be paid on distributions awaiting reinvestment. Because the market price of the shares may increase before purchases are completed, the average purchase price per share may exceed the market price at the time of valuation, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund. A pro rata portion of any applicable brokerage commissions on open market purchases will be paid by Plan participants. These commissions usually will be lower than those charged on individual transactions.

Flexible

You may change your distribution option or withdraw from the Plan at any time, should your needs or situation change.

You can reinvest whether your shares are registered in your name, or in the name of a brokerage firm, bank, or other nominee. Ask your investment advisor if his or her firm will participate on your behalf. Participants whose shares are registered in the name of one firm may not be able to transfer the shares to another firm and continue to participate in the Plan.

The Fund reserves the right to amend or terminate the Plan at any time. Although the Fund reserves the right to amend the Plan to include a service charge payable by the participants, there is no direct service charge to participants in the Plan at this time.

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Reinvest Automatically,
Easily and Conveniently (continued)

Call today to start reinvesting distributions

For more information on the Nuveen Automatic Reinvestment Plan or to enroll in or withdraw from the Plan, speak with your financial advisor or call us at (800) 257-8787.

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74

Glossary of Terms
Used in this Report

•  Average Annual Total Return: This is a commonly used method to express an investment's performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment's actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.

•  Chicago Board Options Exchange (CBOE) S&P 500 BuyWrite Index (BXM): A benchmark index designed to track the performance of a hypothetical buy-write strategy on the S&P 500 Index. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

•  Chicago Board Options Exchange (CBOE) NASDAQ-100 BuyWrite Index (BXN): A benchmark index that measures the performance of a theoretical portfolio that owns a portfolio of the stocks included in the NASDAQ-100 Index^®, and "writes" (or sells) NASDAQ-100 Index (NDX) covered call options. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

•  Comparative Index for JLA: A blended return consisting of: 1) 50% of the return of the S&P 500^® Index, and 2) 50% of the NASDAQ -100 Index. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

•  Comparative Index for JSN: A blended return consisting of: 1) 75% of the return of the S&P 500^® Index and 2) 25% of the NASDAQ -100 Index. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

•  Current Distribution Rate: Current distribution rate is based on the Fund's current annualized quarterly distribution divided by the Fund's current market price. The Fund's quarterly distributions to its shareholders may be comprised of ordinary income, net realized capital gains and, if at the end of the calendar year the Fund's cumulative net ordinary income and net realized gains are less than the amount of the Fund's distributions, a tax return of capital.

•  Gross Domestic Product (GDP): The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.

•  NASDAQ -100 Index: An index including 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The NASDAQ-100 Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

•  Net Asset Value (NAV): The net market value of all securities held in a portfolio.

•  Net Asset Value (NAV) Per Share: The market value of one share of a mutual fund or closed-end fund. For a Fund, the NAV is calculated daily by taking the Fund's total assets (securities, cash, and accrued earnings), subtracting the Fund's liabilities, and dividing by the number of shares outstanding.

•  S&P 500^® Index: An unmanaged index generally considered representative of the U.S. stock market. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

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75

Notes

Nuveen Investments
76

Notes

Nuveen Investments
77

Notes

Nuveen Investments
78

Additional Fund Information

Board of Trustees

John P. Amboian
Robert P. Bremner
Jack B. Evans
William C. Hunter
David J. Kundert
William J. Schneider
Judith M. Stockdale
Carole E. Stone
Virginia L. Stringer
Terence J. Toth

Fund Manager

Nuveen Fund Advisers, LLC
333 West Wacker Drive
Chicago, IL 60606

Custodian

State Street Bank & Trust Company
Boston, MA

Transfer Agent and
Shareholder Services

State Street Bank & Trust Company
Nuveen Funds
P.O. Box 43071
Providence, RI 02940-3071
(800) 257-8787

Legal Counsel

Chapman and Cutler LLP
Chicago, IL

Independent Registered
Public Accounting Firm

PricewaterhouseCoopers LLP
Chicago, IL

Quarterly Form N-Q Portfolio of Investments Information

Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. You may obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov or in person at the SEC's Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC -0330 for room hours and operation.

Nuveen Funds' Proxy Voting Information

You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen Investments toll-free at (800) 257-8787 or on Nuveen's website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen Investments toll free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov.

CEO Certification Disclosure

Each Fund's Chief Executive Officer has submitted to the New York Stock Exchange (NYSE) the annual CEO certification as required by Section 303A.12(a) of the NYSE Listed Company Manual.

Each Fund has filed with the SEC the certification of its Chief Executive Officer and Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act.

Common Share Information

Each Fund intends to repurchase shares of its own common stock in the future at such times and in such amounts as is deemed advisable. During the period covered by this report, the Funds repurchased shares of their common stock as shown in the accompanying table.

Fund	Shares Repurchased
JPZ		—
JSN		—
JLA		—
JPG		—

Any future repurchases will be reported to shareholders in the next annual or semi-annual report.

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79

Nuveen Investments:
Serving Investors for Generations

Since 1898, financial advisors and their clients have relied on Nuveen Investments to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality equity and fixed-income solutions designed to be integral components of a well-diversified core portfolio.

Focused on meeting investor needs.

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management and Gresham Investment Management. In total, Nuveen Investments managed approximately $216 billion as of June 30, 2013.

Find out how we can help you.

To learn more about how the products and services of Nuveen Investments may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen Investments, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money.

Learn more about Nuveen Funds at: www.nuveen.com/cef

Distributed by
Nuveen Securities, LLC
333 West Wacker Drive
Chicago, IL 60606
www.nuveen.com/cef

_ESA-D-0613D

ITEM 2. CODE OF ETHICS.

Not applicable to this filing.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable to this filing.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable to this filing.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to this filing.

ITEM 6. SCHEDULE OF INVESTMENTS.

a) See Portfolio of Investments in Item 1.

b) Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this filing.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this filing.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.

ITEM 11. 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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)(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 second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 12. EXHIBITS.

File the exhibits listed below as part of this Form.

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.

(a)(2) 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)) in the exact form set forth below: Ex-99.CERT attached hereto.

(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable.

(b) If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Ex-99.906 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 Advantage Fund

By (Signature and Title)	/s/ Kevin J. McCarthy
	Kevin J. McCarthy
	Vice President and Secretary

Date: September 5, 2013

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: September 5, 2013

By (Signature and Title)	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller
	(principal financial officer)

Date: September 5, 2013

EX-99.CERT

Exhibit 99.CERT

CERTIFICATION

I, Gifford R. Zimmerman, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Equity Premium Advantage Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which arereasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 5, 2013	/s/ Gifford R. Zimmerman
	Gifford R. Zimmerman
	Chief Administrative Officer
	(principal executive officer)

CERTIFICATION

I, Stephen D. Foy, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Equity Premium Advantage Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary tomake the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 5, 2013	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller
	(principal financial officer)

EX-99.906CERT

Exhibit 99.906CERT

Certification Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002; provided by the Chief Executive Officer and Chief Financial Officer, based on each such officer’s knowledge and belief.

The undersigned officers of Nuveen Equity Premium Advantage Fund (the “Fund”), certify that, to the best of each such officer’s knowledge and belief:

1.The Form N-CSR of the Fund for the period ended June 30, 2013 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date: September 5, 2013

/s/ Gifford R. Zimmerman

Gifford R. Zimmerman

Chief Administrative Officer

(principal executive officer)

/s/ Stephen D. Foy

Stephen D. Foy

Vice President, Controller

(principal financial officer)