Chairman’s Letter to Shareholders
|
4
|
Portfolio Managers’ Comments
|
5
|
Common Share Dividend and Share Price Information
|
11
|
Performance Overviews
|
12
|
Portfolios of Investments
|
18
|
Statement of Assets and Liabilities
|
81
|
Statement of Operations
|
83
|
Statement of Changes in Net Assets
|
84
|
Statement of Cash Flows
|
86
|
Financial Highlights
|
88
|
Notes to Financial Statements
|
94
|
Board Approval of Sub-Advisory Arrangements
|
107
|
Reinvest Automatically, Easily and Conveniently
|
108
|
Glossary of Terms Used in this Report
|
110
|
Other Useful Information
|
115
|
4 | Nuveen Investments |
Nuveen Investments | 5 |
Fund
|
6-Month
|
1-Year
|
5-Year
|
10-Year
|
|||||||||
NPP
|
-5.76
|
%
|
-0.40
|
%
|
3.78
|
%
|
5.40
|
%
|
|||||
NMA
|
-6.13
|
%
|
-0.29
|
%
|
3.35
|
%
|
5.43
|
%
|
|||||
NMO
|
-7.94
|
%
|
-3.27
|
%
|
2.44
|
%
|
4.56
|
%
|
|||||
NAD
|
-6.81
|
%
|
-1.30
|
%
|
3.31
|
%
|
5.75
|
%
|
|||||
NXZ
|
-5.88
|
%
|
-3.17
|
%
|
3.16
|
%
|
5.98
|
%
|
|||||
NZF
|
-3.63
|
%
|
1.40
|
%
|
4.17
|
%
|
N/A
|
||||||
Standard & Poor’s (S&P) National Municipal Bond Index1
|
-1.99
|
%
|
1.98
|
%
|
4.18
|
%
|
4.94
|
%
|
|||||
Lipper General Leveraged Municipal Debt Funds Average2
|
-5.81
|
%
|
0.10
|
%
|
3.04
|
%
|
5.25
|
%
|
*
|
Six-month returns are cumulative; all other returns are annualized.
|
|
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.
|
|
For additional information, see the individual Performance Overview for your Fund in this report.
|
1
|
The Standard & Poor’s (S&P) National Municipal Bond Index is an unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. This index does not reflect any initial or ongoing expenses and is not available for direct investment.
|
2
|
The Lipper General Leveraged Municipal Debt Funds Average is calculated using the returns of all closed-end funds in this category for each period as follows: 6-month, 74 funds; 1-year, 73 funds; 5-year, 70 funds; and 10-year, 51 funds. Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charges. The Lipper average is not available for direct investment.
|
6 | Nuveen Investments |
Nuveen Investments | 7 |
8 | Nuveen Investments |
Fund
|
ARPS
Redeemed
|
% of Original
ARPS
|
|||||
NPP
|
$
|
479,000,000
|
100.0
|
%
|
|||
NMA
|
$
|
358,000,000
|
100.0
|
%
|
|||
NMO
|
$
|
380,000,000
|
100.0
|
%
|
|||
NAD
|
$
|
174,925,000
|
59.3
|
%
|
|||
NXZ
|
$
|
222,000,000
|
100.0
|
%
|
|||
NZF
|
$
|
143,600,000
|
46.0
|
%
|
Fund
|
MTP Shares
at Liquidation Value
|
|||
NAD
|
$
|
144,300,000
|
||
NZF
|
$
|
70,000,000
|
Fund
|
MTP Shares Issued
at Liquidation Value
|
MTP
Series
|
Annual
Interest Rate
|
NYSE
Ticker
|
|||||||||
NZF
|
$
|
70,000,000
|
2016
|
2.80
|
%
|
NZF PrC
|
Nuveen Investments | 9 |
Fund
|
VMTP
Series
|
VMTP Shares Issued
at Liquidation Value
|
|||||
NPP
|
2014
|
$
|
421,700,000
|
Fund
|
VRDP Shares
at Liquidation Value
|
||
NMA
|
$
|
296,800,000
|
|
NMO
|
$
|
350,900,000
|
|
NXZ
|
$
|
196,000,000
|
10 | Nuveen Investments |
Fund
|
Long-Term Capital Gains
(per share)
|
Short-Term Capital Gains and/or Ordinary Income
(per share)
|
|||||
NPP
|
$
|
0.0905
|
$
|
0.0081
|
|||
NZF
|
$
|
0.0156
|
—
|
Fund
|
4/30/11
(-)Discount
|
Six-Month Average
(-)Discount
|
|||||
NPP
|
(-)3.62
|
%
|
(-)3.92
|
%
|
|||
NMA
|
(-)2.91
|
%
|
(-)2.86
|
%
|
|||
NMO
|
(-)0.96
|
%
|
(-)0.92
|
%
|
|||
NAD
|
(-)3.48
|
%
|
(-)4.52
|
%
|
|||
NXZ
|
(-)3.58
|
%
|
(-)4.41
|
%
|
|||
NZF
|
(-)3.58
|
%
|
(-)4.48
|
%
|
Nuveen Investments | 11 |
NPP
|
Nuveen Performance
|
|
Performance
|
Plus Municipal
|
|
OVERVIEW
|
Fund, Inc.
|
|
as of April 30, 2011
|
Fund Snapshot | ||||
Common Share Price
|
$
|
13.33
|
||
Common Share Net Asset Value (NAV)
|
$
|
13.83
|
||
Premium/(Discount) to NAV
|
-3.62
|
%
|
||
Market Yield
|
7.07
|
%
|
||
Taxable-Equivalent Yield1
|
9.82
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
829,253
|
Leverage
(as a % of managed assets)
|
||||
Structural Leverage
|
32.19
|
%
|
||
Effective Leverage
|
36.70
|
%
|
Average Annual Total Return
(Inception 6/22/89)
|
|||||||
On Share Price
|
On NAV
|
||||||
6-Month (Cumulative)
|
-7.33
|
%
|
-5.76
|
%
|
|||
1-Year
|
0.43
|
%
|
-0.40
|
%
|
|||
5-Year
|
4.46
|
%
|
3.78
|
%
|
|||
10-Year
|
5.91
|
%
|
5.40
|
%
|
States4
(as a % of total investments)
|
||||
Illinois
|
17.2
|
%
|
||
California
|
13.4
|
%
|
||
Colorado
|
6.4
|
%
|
||
Florida
|
4.9
|
%
|
||
New Jersey
|
4.6
|
%
|
||
Ohio
|
4.2
|
%
|
||
Texas
|
4.0
|
%
|
||
Nevada
|
3.5
|
%
|
||
New York
|
3.4
|
%
|
||
Massachusetts
|
3.0
|
%
|
||
Michigan
|
2.5
|
%
|
||
Washington
|
2.4
|
%
|
||
Pennsylvania
|
2.3
|
%
|
||
Louisiana
|
2.2
|
%
|
||
Puerto Rico
|
2.1
|
%
|
||
Indiana
|
2.0
|
%
|
||
South Carolina
|
1.9
|
%
|
||
Minnesota
|
1.6
|
%
|
||
Iowa
|
1.6
|
%
|
||
Arizona
|
1.5
|
%
|
||
Virginia
|
1.5
|
%
|
||
Other
|
13.8
|
%
|
Portfolio Composition4
(as a % of total investments)
|
||||
Tax Obligation/Limited
|
17.6
|
%
|
||
Transportation
|
16.5
|
%
|
||
Health Care
|
13.9
|
%
|
||
U.S. Guaranteed
|
13.8
|
%
|
||
Tax Obligation/General
|
13.2
|
%
|
||
Utilities
|
7.7
|
%
|
||
Consumer Staples
|
6.6
|
%
|
||
Other
|
10.7
|
%
|
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
The Fund paid shareholders a capital gain and net ordinary income distribution in December 2010 of $0.0986 per share.
|
3
|
Ratings shown are the highest of Standard & Poor’s Group, Moody’s Investor Service, Inc. or Fitch, Inc. AAA includes bonds with an implied AAA rating since they are backed by U.S. Government or agency securities. AAA, AA, A and BBB ratings are investment grade; BB, B, CCC, CC, C and D ratings are below-investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
4
|
Holdings are subject to change.
|
12 | Nuveen Investments |
NMA
|
Nuveen Municipal
|
|
Performance
|
Advantage
|
|
OVERVIEW
|
Fund, Inc.
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
12.99
|
||
Common Share Net Asset Value (NAV)
|
$
|
13.38
|
||
Premium/(Discount) to NAV
|
-2.91
|
%
|
||
Market Yield
|
7.62
|
%
|
||
Taxable-Equivalent Yield1
|
10.58
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
581,888
|
Leverage
(as a % of managed assets)
|
||||
Structural Leverage
|
32.10
|
%
|
||
Effective Leverage
|
37.06
|
%
|
Average Annual Total Return
(Inception 12/19/89)
|
On Share Price
|
On NAV
|
|||||
6-Month (Cumulative)
|
-9.60
|
%
|
-6.13
|
%
|
|||
1-Year
|
-2.59
|
%
|
-0.29
|
%
|
|||
5-Year
|
3.33
|
%
|
3.35
|
%
|
|||
10-Year
|
5.93
|
%
|
5.43
|
%
|
States3
(as a % of total investments)
|
||||
California
|
13.1
|
%
|
||
Texas
|
10.3
|
%
|
||
Louisiana
|
9.0
|
%
|
||
Illinois
|
8.1
|
%
|
||
Colorado
|
6.2
|
%
|
||
Puerto Rico
|
5.0
|
%
|
||
Ohio
|
4.8
|
%
|
||
Washington
|
4.4
|
%
|
||
New York
|
3.5
|
%
|
||
Pennsylvania
|
3.2
|
%
|
||
New Jersey
|
2.5
|
%
|
||
Tennessee
|
2.5
|
%
|
||
Nevada
|
2.4
|
%
|
||
Florida
|
2.1
|
%
|
||
South Carolina
|
2.1
|
%
|
||
Arizona
|
2.0
|
%
|
||
North Carolina
|
1.8
|
%
|
||
Massachusetts
|
1.7
|
%
|
||
Indiana
|
1.6
|
%
|
||
Other
|
13.7
|
%
|
Portfolio Composition3
(as a % of total investments)
|
||||
Health Care
|
20.1
|
%
|
||
Utilities
|
15.9
|
%
|
||
Tax Obligation/General
|
13.1
|
%
|
||
Tax Obligation/Limited
|
12.5
|
%
|
||
Transportation
|
11.8
|
%
|
||
U.S. Guaranteed
|
10.9
|
%
|
||
Consumer Staples
|
6.5
|
%
|
||
Other
|
9.2
|
%
|
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest of Standard & Poor’s Group, Moody’s Investor Service, Inc. or Fitch, Inc. AAA includes bonds with an implied AAA rating since they are backed by U.S. Government or agency securities. AAA, AA, A and BBB ratings are investment grade; BB, B, CCC, CC, C and D ratings are below-investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
3
|
Holdings are subject to change.
|
Nuveen Investments | 13 |
NMO
|
Nuveen Municipal
|
|
Performance
|
Market Opportunity | |
OVERVIEW
|
Fund, Inc.
|
|
|
as of April 30, 2011
|
Fund Snapshot | ||||
Common Share Price
|
$
|
12.43
|
||
Common Share Net Asset Value (NAV)
|
$
|
12.55
|
||
Premium/(Discount) to NAV
|
-0.96
|
%
|
||
Market Yield
|
7.87
|
%
|
||
Taxable-Equivalent Yield1
|
10.93
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
574,974
|
Leverage
(as a % of managed assets)
|
||||
Structural Leverage
|
36.89
|
%
|
||
Effective Leverage
|
39.55
|
%
|
Average Annual Total Return
(Inception 3/21/90)
|
|||||||
On Share Price
|
On NAV
|
||||||
6-Month (Cumulative)
|
-11.20
|
%
|
-7.94
|
%
|
|||
1-Year
|
-4.19
|
%
|
-3.27
|
%
|
|||
5-Year
|
3.79
|
%
|
2.44
|
%
|
|||
10-Year
|
5.07
|
%
|
4.56
|
%
|
States3 | ||||
(as a % of total investments)
|
||||
California
|
14.5
|
%
|
||
Illinois
|
10.0
|
%
|
||
Texas
|
8.6
|
%
|
||
Washington
|
6.3
|
%
|
||
Ohio
|
5.2
|
%
|
||
Puerto Rico
|
4.8
|
%
|
||
New York
|
4.4
|
%
|
||
Pennsylvania
|
4.2
|
%
|
||
Colorado
|
4.1
|
%
|
||
Nevada
|
3.9
|
%
|
||
North Carolina
|
3.8
|
%
|
||
South Carolina
|
3.3
|
%
|
||
New Jersey
|
2.5
|
%
|
||
Florida
|
2.2
|
%
|
||
Louisiana
|
2.0
|
%
|
||
Alaska
|
1.8
|
%
|
||
Michigan
|
1.8
|
%
|
||
Indiana
|
1.7
|
%
|
||
Virginia
|
1.7
|
%
|
||
Other
|
13.2
|
%
|
Portfolio Composition3 | ||||
(as a % of total investments)
|
||||
Transportation
|
16.8
|
%
|
||
Health Care
|
16.6
|
%
|
||
Tax Obligation/General
|
15.6
|
%
|
||
Tax Obligation/Limited
|
12.7
|
%
|
||
U.S. Guaranteed
|
10.4
|
%
|
||
Utilities
|
8.9
|
%
|
||
Consumer Staples
|
6.9
|
%
|
||
Other
|
12.1
|
%
|
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest of Standard & Poor’s Group, Moody’s Investor Service, Inc. or Fitch, Inc. AAA includes bonds with an implied AAA rating since they are backed by U.S. Government or agency securities. AAA, AA, A and BBB ratings are investment grade; BB, B, CCC, CC, C and D ratings are below-investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
3
|
Holdings are subject to change.
|
14 | Nuveen Investments |
NAD
|
Nuveen Dividend
|
|
Performance
|
Advantage
|
|
OVERVIEW |
Municipal Fund
|
Fund Snapshot | ||||
Common Share Price
|
$
|
12.76
|
||
Common Share Net Asset Value (NAV)
|
$
|
13.22
|
||
Premium/(Discount) to NAV
|
-3.48
|
%
|
||
Market Yield
|
7.15
|
%
|
||
Taxable-Equivalent Yield1
|
9.93
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
519,587
|
Leverage
(as a % of managed assets)
|
||||
Structural Leverage
|
32.35
|
%
|
||
Effective Leverage
|
36.42
|
%
|
Average Annual Total Return
(Inception 5/26/99)
|
|||||||
On Share Price | On NAV | ||||||
6-Month (Cumulative)
|
-8.20
|
%
|
-6.81
|
%
|
|||
1-Year
|
-3.17
|
%
|
-1.30
|
%
|
|||
5-Year
|
3.87
|
%
|
3.31
|
%
|
|||
10-Year
|
5.01
|
%
|
5.75
|
%
|
States3
(as a % of total municipal bonds)
|
||||
Illinois
|
19.2
|
%
|
||
Florida
|
7.1
|
%
|
||
New York
|
6.3
|
%
|
||
Washington
|
5.8
|
%
|
||
California
|
5.8
|
%
|
||
Texas
|
4.9
|
%
|
||
Louisiana
|
4.8
|
%
|
||
Wisconsin
|
4.7
|
%
|
||
New Jersey
|
4.5
|
%
|
||
Colorado
|
4.0
|
%
|
||
Puerto Rico
|
3.8
|
%
|
||
Nevada
|
3.4
|
%
|
||
Indiana
|
2.8
|
%
|
||
Ohio
|
2.4
|
%
|
||
Rhode Island
|
2.0
|
%
|
||
Pennsylvania
|
1.9
|
%
|
||
Michigan
|
1.8
|
%
|
||
Other
|
14.8
|
%
|
Portfolio Composition3
(as a % of total investments)
|
||||
Health Care
|
21.5
|
%
|
||
Tax Obligation/Limited
|
17.8
|
%
|
||
Tax Obligation/General
|
17.7
|
%
|
||
Transportation
|
14.4
|
%
|
||
Consumer Staples
|
6.1
|
%
|
||
Education and Civic Organizations
|
5.1
|
%
|
||
Housing/Multifamily
|
4.3
|
%
|
||
Investment Companies
|
0.1
|
%
|
||
Other
|
13.0
|
%
|
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest of Standard & Poor’s Group, Moody’s Investor Service, Inc. or Fitch, Inc. AAA includes bonds with an implied AAA rating since they are backed by U.S. Government or agency securities. AAA, AA, A and BBB ratings are investment grade; BB, B, CCC, CC, C and D ratings are below-investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
3
|
Holdings are subject to change.
|
Nuveen Investments | 15 |
NXZ
|
Nuveen Dividend
|
|
Performance |
Advantage
|
|
OVERVIEW
|
Municipal Fund 2
|
|
|
as of April 30, 2011
|
Fund Snapshot | ||||
Common Share Price
|
$
|
12.93
|
||
Common Share Net Asset Value (NAV)
|
$
|
13.41
|
||
Premium/(Discount) to NAV
|
-3.58
|
%
|
||
Market Yield
|
7.42
|
%
|
||
Taxable-Equivalent Yield1
|
10.31
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
394,954
|
Leverage
(as a % of managed assets)
|
||||
Structural Leverage
|
33.17
|
%
|
||
Effective Leverage
|
33.17
|
%
|
Average Annual Total Return
(Inception 3/27/01)
|
|||||||
On Share Price
|
On NAV
|
||||||
6-Month (Cumulative)
|
-8.62
|
%
|
-5.88
|
%
|
|||
1-Year
|
-4.82
|
%
|
-3.17
|
%
|
|||
5-Year
|
1.84
|
%
|
3.16
|
%
|
|||
10-Year
|
5.11
|
%
|
5.98
|
%
|
States3
(as a % of total investments)
|
||||
Texas
|
16.7
|
%
|
||
California
|
11.9
|
%
|
||
Illinois
|
9.7
|
%
|
||
Colorado
|
7.3
|
%
|
||
New York
|
5.4
|
%
|
||
Michigan
|
5.0
|
%
|
||
New Mexico
|
3.9
|
%
|
||
Louisiana
|
3.5
|
%
|
||
Alabama
|
3.5
|
%
|
||
Florida
|
3.5
|
%
|
||
Kansas
|
2.9
|
%
|
||
Indiana
|
2.6
|
%
|
||
Puerto Rico
|
2.2
|
%
|
||
New Jersey
|
1.8
|
%
|
||
Washington
|
1.8
|
%
|
||
Hawaii
|
1.7
|
%
|
||
District of Columbia
|
1.6
|
%
|
||
Other
|
15.0
|
%
|
Portfolio Composition3
(as a % of total investments)
|
||||
U.S. Guaranteed
|
23.4
|
%
|
||
Tax Obligation/Limited
|
19.6
|
%
|
||
Health Care
|
13.7
|
%
|
||
Transportation
|
13.2
|
%
|
||
Tax Obligation/General
|
7.1
|
%
|
||
Consumer Staples
|
7.0
|
%
|
||
Utilities
|
4.4
|
%
|
||
Other
|
11.6
|
%
|
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest of Standard & Poor’s Group, Moody’s Investor Service, Inc. or Fitch, Inc. AAA includes bonds with an implied AAA rating since they are backed by U.S. Government or agency securities. AAA, AA, A and BBB ratings are investment grade; BB, B, CCC, CC, C and D ratings are below-investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
3
|
Holdings are subject to change.
|
16 | Nuveen Investments |
NZF
|
Nuveen Dividend
|
|
Performance
|
Advantage
|
|
OVERVIEW
|
Municipal Fund 3
|
Fund Snapshot | ||||
Common Share Price
|
$
|
13.20
|
||
Common Share Net Asset Value (NAV)
|
$
|
13.69
|
||
Premium/(Discount) to NAV
|
-3.58
|
%
|
||
Market Yield
|
7.45
|
%
|
||
Taxable-Equivalent Yield1
|
10.35
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
553,001
|
Leverage
(as a % of managed assets)
|
||||
Structural Leverage
|
27.51
|
%
|
||
Effective Leverage
|
36.18
|
%
|
Average Annual Total Return
(Inception 9/25/01)
|
|||||||
On Share Price
|
On NAV
|
||||||
6-Month (Cumulative)
|
-5.95
|
%
|
-3.63
|
%
|
|||
1-Year
|
0.55
|
%
|
1.40
|
%
|
|||
5-Year
|
3.87
|
%
|
4.17
|
%
|
|||
Since Inception
|
5.25
|
%
|
5.87
|
%
|
States4
(as a % of total municipal bonds)
|
||||
Texas
|
15.5
|
%
|
||
Illinois
|
11.0
|
%
|
||
Washington
|
8.8
|
%
|
||
California
|
8.2
|
%
|
||
Michigan
|
6.2
|
%
|
||
Colorado
|
4.2
|
%
|
||
Indiana
|
4.0
|
%
|
||
Georgia
|
3.8
|
%
|
||
Iowa
|
3.7
|
%
|
||
New York
|
3.4
|
%
|
||
New Jersey
|
3.2
|
%
|
||
Louisiana
|
3.0
|
%
|
||
Nevada
|
2.5
|
%
|
||
Kentucky
|
2.4
|
%
|
||
Missouri
|
2.0
|
%
|
||
Massachusetts
|
2.0
|
%
|
||
Maryland
|
1.8
|
%
|
||
Other
|
14.3
|
%
|
Portfolio Composition4
(as a % of total investments)
|
||||
U.S. Guaranteed
|
26.2
|
%
|
||
Transportation
|
18.3
|
%
|
||
Health Care
|
13.2
|
%
|
||
Tax Obligation/General
|
9.2
|
%
|
||
Tax Obligation/Limited
|
7.6
|
%
|
||
Water and Sewer
|
4.8
|
%
|
||
Education and Civic Organizations
|
4.7
|
%
|
||
Consumer Staples
|
4.4
|
%
|
||
Investment Companies
|
0.4
|
%
|
||
Other
|
11.2
|
%
|
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
The Fund paid shareholders a capital gains distribution in December 2010 of $0.0156 per share.
|
3
|
Ratings shown are the highest of Standard & Poor’s Group, Moody’s Investor Service, Inc. or Fitch, Inc. AAA includes bonds with an implied AAA rating since they are backed by U.S. Government or agency securities. AAA, AA, A and BBB ratings are investment grade; BB, B, CCC, CC, C and D ratings are below-investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
4
|
Holdings are subject to change.
|
Nuveen Investments | 17 |
Nuveen Performance Plus Municipal Fund, Inc.
|
||
NPP
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Alabama – 0.2% (0.1% of Total Investments)
|
||||||||
Jefferson County, Alabama, Sewer Revenue Refunding Warrants, Series 1997A:
|
||||||||
$
|
1,435
|
5.625%, 2/01/22 – FGIC Insured
|
7/11 at 100.00
|
Caa3
|
$
|
878,378
|
||
1,505
|
5.375%, 2/01/27 – FGIC Insured
|
7/11 at 100.00
|
Caa3
|
922,068
|
||||
2,940
|
Total Alabama
|
1,800,446
|
||||||
Alaska – 0.2% (0.1% of Total Investments)
|
||||||||
2,465
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46
|
6/14 at 100.00
|
Baa3
|
1,467,562
|
||||
Arizona – 2.3% (1.5% of Total Investments)
|
||||||||
1,000
|
Arizona State Transportation Board, Highway Revenue Bonds, Series 2002B, 5.250%, 7/01/22 (Pre-refunded 7/01/12)
|
7/12 at 100.00
|
AAA
|
1,057,330
|
||||
7,780
|
Phoenix Civic Improvement Corporation, Arizona, Junior Lien Airport Revenue Bonds, Series 2010A, 5.000%, 7/01/40
|
No Opt. Call
|
A+
|
7,133,093
|
||||
Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 2002B:
|
||||||||
5,365
|
5.750%, 7/01/15 – FGIC Insured (Alternative Minimum Tax)
|
7/12 at 100.00
|
AA–
|
5,579,278
|
||||
5,055
|
5.750%, 7/01/16 – FGIC Insured (Alternative Minimum Tax)
|
7/12 at 100.00
|
AA–
|
5,236,576
|
||||
19,200
|
Total Arizona
|
19,006,277
|
||||||
Arkansas – 0.5% (0.3% of Total Investments)
|
||||||||
5,080
|
Independence County, Arkansas, Hydroelectric Power Revenue Bonds, Series 2003, 5.350%, 5/01/28 – ACA Insured
|
5/13 at 100.00
|
N/R
|
3,387,039
|
||||
1,000
|
Washington County, Arkansas, Hospital Revenue Bonds, Washington Regional Medical Center, Series 2005A, 5.000%, 2/01/35
|
2/15 at 100.00
|
Baa1
|
934,060
|
||||
6,080
|
Total Arkansas
|
4,321,099
|
||||||
California – 20.3% (13.4% of Total Investments)
|
||||||||
3,500
|
Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series 2004A, 0.000%, 10/01/25 – AMBAC Insured
|
10/17 at 100.00
|
A–
|
2,755,235
|
||||
15,870
|
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/20 – AGM Insured
|
No Opt. Call
|
AA+
|
9,236,975
|
||||
California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A:
|
||||||||
4,000
|
6.000%, 5/01/15 (Pre-refunded 5/01/12)
|
5/12 at 101.00
|
Aaa
|
4,261,960
|
||||
3,175
|
5.375%, 5/01/22 (Pre-refunded 5/01/12)
|
5/12 at 101.00
|
Aaa
|
3,363,055
|
||||
3,365
|
California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist Health System/West, Series 2003A, 5.000%, 3/01/33
|
3/13 at 100.00
|
A
|
3,006,964
|
||||
California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System, Series 2006:
|
||||||||
5,000
|
5.000%, 4/01/37
|
4/16 at 100.00
|
A+
|
4,276,500
|
||||
7,000
|
5.250%, 4/01/39
|
4/16 at 100.00
|
A+
|
6,155,590
|
||||
2,380
|
California Infrastructure Economic Development Bank, Revenue Bonds, J. David Gladstone Institutes, Series 2001, 5.250%, 10/01/34
|
10/11 at 101.00
|
A–
|
2,089,164
|
||||
2,330
|
California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40
|
7/20 at 100.00
|
Baa1
|
2,096,930
|
||||
3,700
|
California Pollution Control Financing Authority, Revenue Bonds, Pacific Gas and Electric Company, Series 2004C, 4.750%, 12/01/23 – FGIC Insured (Alternative Minimum Tax)
|
6/17 at 100.00
|
A3
|
3,672,842
|
||||
5,000
|
California State, General Obligation Bonds, Series 2005, 5.000%, 3/01/31
|
3/16 at 100.00
|
A1
|
4,916,300
|
||||
16,000
|
California State, Various Purpose General Obligation Bonds, Series 2007, 5.000%, 6/01/37
|
6/17 at 100.00
|
A1
|
14,971,360
|
||||
6,435
|
California, General Obligation Refunding Bonds, Series 2002, 6.000%, 4/01/16 – AMBAC Insured
|
No Opt. Call
|
A1
|
7,566,402
|
||||
5,000
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 0.000%, 8/01/32 – AGM Insured
|
8/18 at 100.00
|
AA+
|
4,094,700
|
||||
7,240
|
Desert Community College District, Riverside County, California, General Obligation Bonds, Election 2004 Series 2007C, 0.000%, 8/01/28 – AGM Insured
|
8/17 at 56.01
|
AA+
|
2,295,080
|
18
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
California (continued)
|
||||||||
$
|
10,000
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
$
|
11,231,800
|
||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
|
||||||||
2,500
|
4.500%, 6/01/27
|
6/17 at 100.00
|
BBB–
|
1,876,425
|
||||
1,500
|
5.125%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
915,225
|
||||
10,000
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 0.000%, 6/01/37
|
6/22 at 100.00
|
Baa3
|
5,725,900
|
||||
5,000
|
Los Angeles Community College District, California, General Obligation Bonds, Series 2007C, 5.000%, 8/01/32 – FGIC Insured
|
8/17 at 100.00
|
Aa1
|
4,964,050
|
||||
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2003A:
|
||||||||
3,390
|
5.000%, 7/01/38 – FGIC Insured
|
7/12 at 100.00
|
AA
|
3,367,321
|
||||
5,500
|
5.125%, 7/01/40 – FGIC Insured
|
7/12 at 100.00
|
AA
|
5,507,095
|
||||
2,495
|
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2009A, 5.375%, 7/01/34
|
No Opt. Call
|
AA
|
2,586,816
|
||||
3,300
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009B, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
3,404,676
|
||||
1,000
|
Mt. Diablo Hospital District, California, Insured Hospital Revenue Bonds, Series 1993A, 5.125%, 12/01/23 – AMBAC Insured (ETM)
|
7/11 at 100.00
|
N/R (4)
|
1,111,640
|
||||
13,450
|
Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Refunding Bonds, Redevelopment Project 1, Series 1995, 7.200%, 8/01/17 – NPFG Insured
|
No Opt. Call
|
Baa1
|
15,123,449
|
||||
2,325
|
Palmdale Community Redevelopment Agency, California, Restructured Single Family Mortgage Revenue Bonds, Series 1986D, 8.000%, 4/01/16 (Alternative Minimum Tax) (ETM)
|
No Opt. Call
|
AAA
|
2,930,314
|
||||
4,795
|
Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A, 5.000%, 8/01/32 – NPFG Insured
|
No Opt. Call
|
A+
|
4,509,410
|
||||
1,830
|
San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 3504, 19.580%, 2/01/33 (IF)
|
8/19 at 100.00
|
Aa2
|
2,032,105
|
||||
2,000
|
San Francisco Airports Commission, California, Revenue Refunding Bonds, San Francisco International Airport, Second Series 2001, Issue 27B, 5.125%, 5/01/26 – FGIC Insured
|
11/11 at 100.00
|
A1
|
2,000,700
|
||||
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A:
|
||||||||
7,210
|
0.000%, 1/15/23 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,816,370
|
||||
12,500
|
0.000%, 1/15/32 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,726,625
|
||||
3,000
|
0.000%, 1/15/35 – NPFG Insured
|
No Opt. Call
|
Baa1
|
307,590
|
||||
4,005
|
San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election of 2000, Series 2002B, 0.000%, 9/01/26 – FGIC Insured
|
No Opt. Call
|
Aa1
|
1,610,090
|
||||
2,875
|
Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 4.750%, 6/01/23
|
6/15 at 100.00
|
BBB
|
2,430,151
|
||||
5,245
|
Vacaville Unified School District, California, General Obligation Bonds, Series 2005, 5.000%, 8/01/30 – NPFG Insured
|
8/15 at 100.00
|
A+
|
5,225,331
|
||||
12,000
|
Walnut Valley Unified School District, Los Angeles County, California, General Obligation Refunding Bonds, Series 1997A, 7.200%, 2/01/16 – NPFG Insured
|
8/11 at 103.00
|
AA–
|
12,553,080
|
||||
205,915
|
Total California
|
168,715,220
|
||||||
Colorado – 9.8% (6.4% of Total Investments)
|
||||||||
5,240
|
Adams 12 Five Star Schools, Adams County, Colorado, General Obligation Bonds, Series 2005, 5.000%, 12/15/24 – AGM Insured
|
12/15 at 100.00
|
AA+
|
5,467,678
|
||||
3,000
|
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Peak-to-Peak Charter School, Series 2004, 5.250%, 8/15/34 – SYNCORA GTY Insured
|
8/14 at 100.00
|
A
|
2,770,560
|
||||
1,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2007, 5.250%, 5/15/42
|
5/17 at 100.00
|
BBB
|
820,420
|
||||
10,000
|
Colorado Health Facilities Authority, Health Facilities Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
No Opt. Call
|
AA
|
9,187,700
|
||||
5,860
|
Colorado Health Facilities Authority, Revenue Refunding Bonds, Catholic Health Initiatives, Series 2001, 5.250%, 9/01/21 (Pre-refunded 9/01/11)
|
9/11 at 100.00
|
Aa2 (4)
|
5,959,093
|
||||
4,500
|
Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001A, 5.500%, 11/15/16 – FGIC Insured (Alternative Minimum Tax)
|
11/11 at 100.00
|
A+
|
4,586,895
|
Nuveen Investments
|
19
|
Nuveen Performance Plus Municipal Fund, Inc. (continued)
|
||
NPP
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Colorado (continued)
|
||||||||
$
|
20,000
|
Denver Convention Center Hotel Authority, Colorado, Senior Revenue Bonds, Convention Center Hotel, Series 2003A, 5.000%, 12/01/33 (Pre-refunded 12/01/13) – SYNCORA GTY Insured
|
12/13 at 100.00
|
N/R (4)
|
$
|
22,009,600
|
||
13,055
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/21 – NPFG Insured
|
No Opt. Call
|
Baa1
|
6,626,718
|
||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
|
||||||||
16,200
|
0.000%, 9/01/32 – NPFG Insured
|
No Opt. Call
|
Baa1
|
3,100,842
|
||||
33,120
|
0.000%, 9/01/33 – NPFG Insured
|
No Opt. Call
|
Baa1
|
5,841,706
|
||||
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A:
|
||||||||
5,000
|
0.000%, 9/01/28 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,337,850
|
||||
18,500
|
0.000%, 3/01/36 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,592,590
|
||||
755
|
Jefferson County School District R1, Colorado, General Obligation Bonds, Series 2004, 5.000%, 12/15/22 (Pre-refunded 12/15/14) – AGM Insured (UB)
|
12/14 at 100.00
|
AA+
|
862,119
|
||||
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:
|
||||||||
5,000
|
6.500%, 1/15/30
|
7/20 at 100.00
|
Baa3
|
5,054,550
|
||||
3,750
|
6.000%, 1/15/41
|
7/20 at 100.00
|
Baa3
|
3,435,488
|
||||
1,905
|
University of Colorado Hospital Authority, Revenue Bonds, Series 1999A, 5.000%, 11/15/29 – AMBAC Insured
|
5/11 at 100.00
|
A3
|
1,775,174
|
||||
146,885
|
Total Colorado
|
81,428,983
|
||||||
District of Columbia – 1.5% (1.0% of Total Investments)
|
||||||||
4,545
|
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.250%, 5/15/24
|
5/11 at 101.00
|
BBB
|
4,357,337
|
||||
4,245
|
District of Columbia, Revenue Bonds, National Public Radio, Series 2010A, 5.000%, 4/01/43
|
4/15 at 100.00
|
AA–
|
4,049,772
|
||||
5,000
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 4.500%, 10/01/30 – AMBAC Insured
|
10/16 at 100.00
|
A1
|
4,430,550
|
||||
13,790
|
Total District of Columbia
|
12,837,659
|
||||||
Florida – 7.4% (4.9% of Total Investments)
|
||||||||
1,700
|
Beacon Tradeport Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, Commercial Project, Series 2002A, 5.625%, 5/01/32 – RAAI Insured
|
5/12 at 102.00
|
N/R
|
1,444,762
|
||||
Broward County Housing Finance Authority, Florida, Multifamily Housing Revenue Bonds, Venice Homes Apartments, Series 2001A:
|
||||||||
1,545
|
5.700%, 1/01/32 – AGM Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA+
|
1,544,876
|
||||
1,805
|
5.800%, 1/01/36 – AGM Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA+
|
1,804,910
|
||||
5,300
|
Escambia County Health Facilities Authority, Florida, Revenue Bonds, Ascension Health Credit Group, Series 2003A, 5.250%, 11/15/14
|
No Opt. Call
|
AA+
|
5,923,174
|
||||
3,865
|
Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2006-2, 4.950%, 7/01/37 (Alternative Minimum Tax)
|
1/16 at 100.00
|
AA+
|
3,732,740
|
||||
7,000
|
Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Series 2003A, 5.250%, 10/01/17 – NPFG Insured (Alternative Minimum Tax)
|
10/13 at 100.00
|
Aa3
|
7,350,420
|
||||
805
|
Jacksonville, Florida, Capital Improvement Revenue Bonds, Series 1998 Refunding, Stadium Project, 4.750%, 10/01/25 – AMBAC Insured
|
7/11 at 100.00
|
N/R
|
753,383
|
||||
10,000
|
JEA, Florida, Electric System Revenue Bonds, Series Three 2006A, 5.000%, 10/01/41 – AGM Insured (UB)
|
4/15 at 100.00
|
AA+
|
9,800,400
|
||||
10,750
|
Martin County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, Indiantown Cogeneration LP, Series 1994A, 7.875%, 12/15/25 (Alternative Minimum Tax)
|
6/11 at 100.00
|
BB+
|
10,803,750
|
||||
2,570
|
Miami-Dade County Housing Finance Authority, Florida, Multifamily Mortgage Revenue Bonds, Country Club Villas II Project, Series 2001-1A, 5.850%, 1/01/37 – AGM Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
AA+
|
2,571,105
|
||||
3,500
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2005A, 5.000%, 10/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax)
|
10/15 at 100.00
|
A2
|
2,919,805
|
||||
5,000
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/41
|
10/20 at 100.00
|
A2
|
4,764,150
|
||||
2,500
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/27
|
10/20 at 100.00
|
A2
|
2,490,200
|
20
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Florida (continued)
|
||||||||
Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B, Series 2007:
|
||||||||
$
|
2,000
|
5.000%, 7/01/33 – NPFG Insured
|
7/17 at 100.00
|
Baa1
|
$
|
1,650,040
|
||
4,700
|
5.000%, 7/01/40 – NPFG Insured
|
7/17 at 100.00
|
Baa1
|
3,757,039
|
||||
63,040
|
Total Florida
|
61,310,754
|
||||||
Georgia – 1.1% (0.7% of Total Investments)
|
||||||||
5,000
|
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 1999A, 5.500%, 11/01/22 – FGIC Insured
|
No Opt. Call
|
A1
|
5,495,250
|
||||
2,000
|
DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30
|
9/20 at 100.00
|
N/R
|
1,875,980
|
||||
2,000
|
George L. Smith II World Congress Center Authority, Atlanta, Georgia, Revenue Refunding Bonds, Domed Stadium Project, Series 2000, 5.500%, 7/01/20 – NPFG Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
Baa1
|
2,004,640
|
||||
9,000
|
Total Georgia
|
9,375,870
|
||||||
Idaho – 0.1% (0.0% of Total Investments)
|
||||||||
230
|
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 2000D, 6.200%, 7/01/14 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aa3
|
234,474
|
||||
275
|
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 2000G-2, 5.950%, 7/01/25 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aa2
|
286,652
|
||||
505
|
Total Idaho
|
521,126
|
||||||
Illinois – 26.2% (17.2% of Total Investments)
|
||||||||
10,000
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/19 – FGIC Insured
|
No Opt. Call
|
Aa2
|
6,491,300
|
||||
10,000
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A, 0.000%, 12/01/20 – FGIC Insured
|
No Opt. Call
|
Aa2
|
6,073,800
|
||||
Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999:
|
||||||||
32,170
|
0.000%, 1/01/21 – FGIC Insured
|
No Opt. Call
|
Aa3
|
19,124,100
|
||||
32,670
|
0.000%, 1/01/22 – FGIC Insured
|
No Opt. Call
|
Aa3
|
18,044,948
|
||||
9,240
|
Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1996A, 5.500%,
1/01/29 – NPFG Insured |
7/11 at 100.00
|
A
|
9,241,386
|
||||
1,665
|
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2005A, 5.000%, 1/01/33 – FGIC Insured
|
1/16 at 100.00
|
A1
|
1,547,268
|
||||
5,325
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
5,340,709
|
||||
DuPage County Forest Preserve District, Illinois, General Obligation Bonds, Series 2000:
|
||||||||
8,000
|
0.000%, 11/01/18
|
No Opt. Call
|
AAA
|
6,193,600
|
||||
15,285
|
0.000%, 11/01/19
|
No Opt. Call
|
AAA
|
11,180,825
|
||||
5,000
|
Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Refunding Series 2003A, 5.000%, 7/01/33
|
7/13 at 100.00
|
Aa1
|
5,017,500
|
||||
1,500
|
Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39
|
11/19 at 100.00
|
AA
|
1,433,595
|
||||
2,000
|
Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Series 2008A, 5.250%, 8/15/47 – AGC Insured (UB)
|
8/18 at 100.00
|
AA+
|
1,759,680
|
||||
5,245
|
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond Trust 1137, 9.156%, 7/01/15 (IF)
|
No Opt. Call
|
Aa1
|
4,889,074
|
||||
3,000
|
Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2009, 5.500%, 4/01/34
|
No Opt. Call
|
A+
|
2,828,550
|
||||
1,000
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2004A, 5.000%, 7/01/34
|
7/14 at 100.00
|
Aa1
|
999,250
|
||||
2,250
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 6.000%, 8/15/23
|
8/18 at 100.00
|
BBB
|
2,247,638
|
||||
4,990
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., Refunding Series 2007A, 5.250%, 5/01/34
|
5/17 at 100.00
|
Baa3
|
4,062,060
|
||||
4,590
|
Illinois Health Facilities Authority, FHA-Insured Mortgage Revenue Refunding Bonds, Sinai Health System, Series 2003, 5.150%, 2/15/37
|
8/13 at 100.00
|
Aa2
|
4,318,456
|
||||
1,195
|
Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2002A, 5.750%, 7/01/29
|
7/12 at 100.00
|
AA+
|
1,206,890
|
Nuveen Investments
|
21
|
Nuveen Performance Plus Municipal Fund, Inc. (continued)
|
||
NPP
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Illinois (continued)
|
||||||||
$
|
3,610
|
Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2003, 6.000%, 7/01/33
|
7/13 at 100.00
|
AA+
|
$
|
3,628,555
|
||
2,320
|
Illinois Health Facilities Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 1999, 5.250%, 8/15/15
|
7/11 at 100.00
|
BBB
|
2,328,213
|
||||
7,250
|
Kane, Kendall, LaSalle, and Will Counties, Illinois, Community College District 516, General Obligation Bonds, Series 2005E, 0.000%, 12/15/24 – FGIC Insured
|
12/13 at 57.71
|
AA+
|
3,335,508
|
||||
5,000
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 5.250%, 6/15/42 – NPFG Insured
|
6/12 at 101.00
|
AAA
|
4,663,250
|
||||
10,650
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Hospitality Facility, Series 1996A, 7.000%, 7/01/26 (ETM)
|
No Opt. Call
|
AAA
|
14,091,122
|
||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1996A:
|
||||||||
9,400
|
0.000%, 12/15/18 – NPFG Insured
|
No Opt. Call
|
A2
|
6,645,142
|
||||
16,570
|
0.000%, 12/15/20 – NPFG Insured
|
No Opt. Call
|
A2
|
10,208,280
|
||||
23,550
|
0.000%, 12/15/22 – NPFG Insured
|
No Opt. Call
|
A2
|
12,636,695
|
||||
13,190
|
0.000%, 12/15/24 – NPFG Insured
|
No Opt. Call
|
A2
|
6,132,954
|
||||
5,100
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1998A, 5.500%, 12/15/23 – FGIC Insured
|
No Opt. Call
|
AAA
|
5,466,333
|
||||
5,180
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1998A, 5.500%, 12/15/23 – FGIC Insured (ETM)
|
No Opt. Call
|
A2 (4)
|
6,098,103
|
||||
3,000
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 2002B, 5.750%, 6/15/23 – NPFG Insured
|
6/12 at 101.00
|
AAA
|
3,137,310
|
||||
2,685
|
Midlothian, Illinois, General Obligation Bonds, Series 2010A, 5.000%, 2/01/30 – AGM Insured
|
2/20 at 100.00
|
AA+
|
2,553,032
|
||||
17,865
|
Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1999, 5.750%, 6/01/23 – AGM Insured
|
No Opt. Call
|
AA+
|
19,301,345
|
||||
10,000
|
Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2006, 0.000%, 1/01/23 – AGM Insured
|
No Opt. Call
|
Aa2
|
5,230,600
|
||||
290,495
|
Total Illinois
|
217,457,071
|
||||||
Indiana – 3.1% (2.0% of Total Investments)
|
||||||||
2,465
|
Danville Multi-School Building Corporation, Indiana, First Mortgage Refunding Bonds, Series 2001, 5.250%, 7/15/18 – AMBAC Insured
|
7/11 at 100.00
|
A
|
2,482,871
|
||||
3,000
|
Hospital Authority of Delaware County, Indiana, Hospital Revenue Bonds, Cardinal Health System, Series 2006, 5.250%, 8/01/36
|
8/16 at 100.00
|
Baa3
|
2,563,800
|
||||
750
|
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Clarian Health Obligation Group, Series 2006B, 5.000%, 2/15/23
|
2/16 at 100.00
|
A+
|
754,200
|
||||
1,900
|
Indiana Health Facility Financing Authority, Hospital Revenue Refunding Bonds, Columbus Regional Hospital, Series 1993, 7.000%, 8/15/15 – AGM Insured
|
No Opt. Call
|
AA+
|
2,112,743
|
||||
4,320
|
Indiana Health Facility Financing Authority, Revenue Bonds, Ancilla Systems Inc. Obligated Group, Series 1997, 5.250%, 7/01/22 – NPFG Insured (ETM)
|
7/11 at 100.00
|
BBB (4)
|
4,334,990
|
||||
3,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
BBB+
|
2,706,030
|
||||
2,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Hospitals of Indiana, Series 2005A, 5.000%, 5/01/35 – AMBAC Insured
|
5/15 at 100.00
|
A
|
1,751,900
|
||||
3,105
|
Indiana University, Student Fee Revenue Bonds, Series 2003O, 5.250%, 8/01/20 – FGIC Insured
|
8/13 at 100.00
|
Aaa
|
3,343,526
|
||||
1,000
|
Marion County Convention and Recreational Facilities Authority, Indiana, Excise Taxes Lease Rental Revenue Refunding Senior Bonds, Series 2001A, 5.000%, 6/01/21 – NPFG Insured
|
6/11 at 100.00
|
Baa1
|
1,003,790
|
||||
2,395
|
Shelbyville Central Renovation School Building Corporation, Indiana, First Mortgage Bonds, Series 2005, 4.375%, 7/15/26 – NPFG Insured
|
7/15 at 100.00
|
AA+
|
2,397,611
|
||||
1,800
|
Sunman Dearborn High School Building Corporation, Indiana, First Mortgage Bonds, Series 2005, 5.000%, 7/15/25 – NPFG Insured
|
1/15 at 100.00
|
AA+
|
1,856,394
|
||||
25,735
|
Total Indiana
|
25,307,855
|
22
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Iowa – 2.4% (1.6% of Total Investments)
|
||||||||
$
|
1,500
|
Iowa Finance Authority, Health Facility Revenue Bonds, Care Initiatives Project, Series 2006A, 5.500%, 7/01/21
|
7/16 at 100.00
|
BB+
|
$
|
1,311,255
|
||
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
|
||||||||
5,000
|
5.375%, 6/01/38
|
6/15 at 100.00
|
BBB
|
3,546,550
|
||||
4,440
|
5.500%, 6/01/42
|
6/15 at 100.00
|
BBB
|
3,039,757
|
||||
5,400
|
5.625%, 6/01/46
|
6/15 at 100.00
|
BBB
|
3,641,544
|
||||
4,500
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
BBB
|
3,592,800
|
||||
5,000
|
Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2001B, 5.600%, 6/01/35 (Pre-refunded 6/01/11)
|
6/11 at 101.00
|
AAA
|
5,073,550
|
||||
25,840
|
Total Iowa
|
20,205,456
|
||||||
Kansas – 1.1% (0.7% of Total Investments)
|
||||||||
3,790
|
Kansas Department of Transportation, Highway Revenue Bonds, Series 2004A, 5.000%, 3/01/23 (UB)
|
3/14 at 100.00
|
AAA
|
4,081,489
|
||||
3,200
|
Wyandotte County Unified School District 500, Kansas, General Obligation Bonds, Series 2001, 4.000%, 9/01/21 (Pre-refunded 9/01/11) – AGM Insured
|
9/11 at 100.00
|
AA+ (4)
|
3,240,544
|
||||
3,730
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area
B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 |
No Opt. Call
|
N/R
|
2,066,308
|
||||
10,720
|
Total Kansas
|
9,388,341
|
||||||
Louisiana – 3.4% (2.2% of Total Investments)
|
||||||||
420
|
East Baton Rouge Mortgage Finance Authority, Louisiana, GNMA/FNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Refunding Bonds, Series 1997B-1, 5.750%, 10/01/26
|
10/11 at 100.00
|
Aaa
|
420,265
|
||||
4,000
|
Lafayette City and Parish, Louisiana, Utilities Revenue Bonds, Series 2004, 5.250%, 11/01/25 – NPFG Insured
|
11/14 at 100.00
|
A+
|
4,190,560
|
||||
4,750
|
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%, 7/01/33 – NPFG Insured
|
7/14 at 100.00
|
Baa1
|
4,682,313
|
||||
1,000
|
Louisiana State University and Agricultural and Mechanical College Board of Supervisors, Auxiliary Revenue Bonds, University Health Sciences Center Projects, Series 2000, 6.375%, 5/01/31 – NPFG Insured
|
5/12 at 100.00
|
Baa1
|
1,007,800
|
||||
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B:
|
||||||||
9,100
|
5.500%, 5/15/30
|
5/11 at 101.00
|
A
|
8,983,520
|
||||
9,485
|
5.875%, 5/15/39
|
5/11 at 101.00
|
A–
|
8,656,296
|
||||
28,755
|
Total Louisiana
|
27,940,754
|
||||||
Maine – 0.7% (0.4% of Total Investments)
|
||||||||
5,680
|
Portland, Maine, Airport Revenue Bonds, Series 2003A, 5.000%, 7/01/32 – AGM Insured
|
7/13 at 100.00
|
AA+
|
5,563,333
|
||||
Maryland – 1.6% (1.1% of Total Investments)
|
||||||||
2,550
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Washington County Hospital, Series 2008, 6.000%, 1/01/28
|
No Opt. Call
|
BBB–
|
2,497,190
|
||||
7,720
|
Maryland Transportation Authority, Airport Parking Revenue Bonds, Baltimore-Washington International Airport Passenger Facility, Series 2002B, 5.125%, 3/01/20 – AMBAC Insured (Alternative Minimum Tax)
|
3/12 at 101.00
|
A2
|
7,865,676
|
||||
3,010
|
Takoma Park, Maryland, Hospital Facilities Revenue Refunding and Improvement Bonds, Washington Adventist Hospital, Series 1995, 6.500%, 9/01/12 – AGM Insured (ETM)
|
No Opt. Call
|
AA+ (4)
|
3,151,109
|
||||
13,280
|
Total Maryland
|
13,513,975
|
Nuveen Investments
|
23
|
Nuveen Performance Plus Municipal Fund, Inc. (continued)
|
||
NPP
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Massachusetts – 4.6% (3.0% of Total Investments)
|
||||||||
$
|
6,250
|
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior Lien Series 2010B, 5.000%, 1/01/37
|
1/20 at 100.00
|
A
|
$
|
5,971,250
|
||
Massachusetts Development Finance Authority, Revenue Bonds, 100 Cambridge Street Redevelopment, M/SRBC Project, Series 2002A:
|
||||||||
4,000
|
5.125%, 8/01/28 – NPFG Insured
|
2/12 at 100.00
|
Baa1
|
3,941,160
|
||||
5,625
|
5.125%, 2/01/34 – NPFG Insured
|
2/12 at 100.00
|
Baa1
|
5,111,775
|
||||
8,730
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System, Series 2005F, 5.000%, 10/01/19 – AGC Insured
|
10/15 at 100.00
|
AA+
|
9,097,271
|
||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.125%, 7/01/38
|
7/18 at 100.00
|
A3
|
435,060
|
||||
1,595
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Southcoast Health System Obligated Group, Series 1998A, 4.750%, 7/01/27 – NPFG Insured
|
7/11 at 100.00
|
A2
|
1,422,214
|
||||
5,745
|
Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)
|
6/11 at 100.00
|
A–
|
5,759,994
|
||||
890
|
Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2002C, 5.250%, 11/01/30 (Pre-refunded 11/01/12)
|
11/12 at 100.00
|
Aa1 (4)
|
952,798
|
||||
Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2002E:
|
||||||||
1,255
|
5.250%, 1/01/22 (Pre-refunded 1/01/13) – FGIC Insured
|
1/13 at 100.00
|
Aa1 (4)
|
1,349,865
|
||||
3,745
|
5.250%, 1/01/22 (Pre-refunded 1/01/13) – FGIC Insured
|
1/13 at 100.00
|
Aa1 (4)
|
4,028,085
|
||||
38,335
|
Total Massachusetts
|
38,069,472
|
||||||
Michigan – 3.9% (2.5% of Total Investments)
|
||||||||
5,000
|
Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 – NPFG Insured
|
7/15 at 100.00
|
A
|
4,489,050
|
||||
2,000
|
Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Refunding Bonds, Bronson Methodist Hospital, Series 2010, 5.250%, 5/15/36 – AGM Insured
|
5/20 at 100.00
|
Aa3
|
1,869,340
|
||||
1,430
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2001I, 5.000%, 10/15/24
|
10/11 at 100.00
|
Aa3
|
1,434,347
|
||||
70
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2001I, 5.000%, 10/15/24 (Pre-refunded 10/15/11)
|
10/11 at 100.00
|
A+ (4)
|
71,481
|
||||
6,250
|
Michigan State Building Authority, Revenue Bonds, Refunding Series 2006IA, 0.000%, 10/15/30 – FGIC Insured
|
10/16 at 50.02
|
Aa3
|
1,813,875
|
||||
5,000
|
Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Series 2003II, 5.000%, 10/15/29 – NPFG Insured
|
10/13 at 100.00
|
Aa3
|
5,004,450
|
||||
7,115
|
Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Henry Ford Health System, Series 2003A, 5.500%, 3/01/16 (Pre-refunded 3/01/13)
|
3/13 at 100.00
|
A1 (4)
|
7,749,516
|
||||
3,070
|
Michigan Strategic Fund, Collateralized Limited Obligation Pollution Control Revenue Refunding Bonds, Detroit Edison Company, Series 1999A, 5.550%, 9/01/29 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
A
|
3,070,675
|
||||
3,050
|
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42
|
6/18 at 100.00
|
Baa3
|
2,689,551
|
||||
2,500
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue and Refunding Bonds, William Beaumont Hospital Obligated Group, Series 2009W, 6.375%, 8/01/29
|
8/19 at 100.00
|
A1
|
2,563,325
|
||||
1,150
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39
|
9/18 at 100.00
|
A1
|
1,307,493
|
||||
36,635
|
Total Michigan
|
32,063,103
|
||||||
Minnesota – 2.5% (1.6% of Total Investments)
|
||||||||
17,280
|
St. Paul Housing and Redevelopment Authority, Minnesota, Sales Tax Revenue Refunding Bonds, Civic Center Project, Series 1996, 7.100%, 11/01/23 – AGM Insured
|
11/15 at 103.00
|
AA+
|
20,382,623
|
||||
Mississippi – 1.5% (1.0% of Total Investments)
|
||||||||
9,750
|
Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22
|
10/11 at 100.00
|
BBB
|
9,557,340
|
||||
2,475
|
Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2004B-1, 5.000%, 9/01/24 (UB)
|
9/14 at 100.00
|
AA
|
2,511,284
|
||||
12,225
|
Total Mississippi
|
12,068,624
|
24
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Missouri – 1.7% (1.1% of Total Investments)
|
||||||||
$
|
2,000
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Metrolink Cross County Extension Project, Series 2002B, 5.000%, 10/01/32 – AGM Insured
|
10/13 at 100.00
|
AA+
|
$
|
2,007,600
|
||
6,350
|
Kansas City, Missouri, Airport Revenue Bonds, General Improvement Projects, Series 2003B, 5.250%, 9/01/17 – FGIC Insured
|
9/12 at 100.00
|
A+
|
6,640,068
|
||||
1,845
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, BJC Health System, Series 2003, 5.250%, 5/15/18
|
5/13 at 100.00
|
AA
|
1,955,165
|
||||
3,815
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Healthcare System, Series 2001A, 5.250%, 6/01/28 (Pre-refunded 6/01/11) – AMBAC Insured
|
6/11 at 101.00
|
AA– (4)
|
3,870,050
|
||||
14,010
|
Total Missouri
|
14,472,883
|
||||||
Montana – 0.6% (0.4% of Total Investments)
|
||||||||
280
|
Montana Board of Housing, Single Family Mortgage Bonds, Series 2000A-2, 6.450%, 6/01/29 (Alternative Minimum Tax)
|
6/11 at 100.00
|
AA+
|
285,029
|
||||
4,795
|
Montana Higher Education Student Assistance Corporation, Student Loan Revenue Bonds, Subordinate Series 1998B, 5.500%, 12/01/31 (Alternative Minimum Tax)
|
6/11 at 100.00
|
A2
|
4,639,930
|
||||
5,075
|
Total Montana
|
4,924,959
|
||||||
Nevada – 5.3% (3.5% of Total Investments)
|
||||||||
10,900
|
Clark County School District, Nevada, General Obligation Bonds, Series 2002C, 5.500%, 6/15/19 (Pre-refunded 6/15/12) – NPFG Insured
|
6/12 at 100.00
|
AA (4)
|
11,530,456
|
||||
24,195
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
22,547,562
|
||||
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000:
|
||||||||
3,500
|
0.000%, 1/01/21 – AMBAC Insured
|
No Opt. Call
|
N/R
|
486,430
|
||||
2,780
|
0.000%, 1/01/28 – AMBAC Insured
|
No Opt. Call
|
N/R
|
254,231
|
||||
6,980
|
5.375%, 1/01/40 – AMBAC Insured (5)
|
7/11 at 100.00
|
N/R
|
1,750,444
|
||||
5,000
|
Reno, Nevada, Health Facilities Revenue Bonds, Catholic Healthcare West, Series 2007A, 5.250%, 7/01/31
|
7/17 at 100.00
|
A
|
4,686,350
|
||||
2,500
|
Reno, Nevada, Health Facilities Revenue Bonds, Catholic Healthcare West, Series 2007A, Trust 2634, 18.488%, 7/01/31 – BHAC Insured (IF)
|
7/17 at 100.00
|
AA+
|
2,493,100
|
||||
55,855
|
Total Nevada
|
43,748,573
|
||||||
New Hampshire – 1.9% (1.2% of Total Investments)
|
||||||||
5,000
|
New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39
|
10/19 at 100.00
|
BBB+
|
4,930,150
|
||||
New Hampshire Housing Finance Authority, FHLMC Multifamily Housing Remarketed Revenue Bonds, Countryside LP, Series 1994:
|
||||||||
3,725
|
6.000%, 7/01/18 (Alternative Minimum Tax)
|
7/11 at 100.50
|
Aaa
|
3,766,533
|
||||
6,945
|
6.100%, 7/01/24 (Alternative Minimum Tax)
|
7/11 at 100.50
|
Aaa
|
7,019,312
|
||||
15,670
|
Total New Hampshire
|
15,715,995
|
||||||
New Jersey – 7.0% (4.6% of Total Investments)
|
||||||||
1,500
|
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37
|
7/18 at 100.00
|
BBB–
|
1,285,770
|
||||
2,110
|
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2000A, 6.000%, 6/01/13 – NPFG Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
Aaa
|
2,117,153
|
||||
4,500
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2001C, 5.500%, 12/15/18 – AGM Insured
|
No Opt. Call
|
AA+
|
5,093,550
|
||||
9,250
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003C, 5.500%, 6/15/23 (Pre-refunded 6/15/13)
|
6/13 at 100.00
|
AAA
|
10,208,670
|
||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:
|
||||||||
10,000
|
0.000%, 12/15/30 – FGIC Insured
|
No Opt. Call
|
A+
|
2,749,300
|
||||
38,000
|
0.000%, 12/15/33 – AGM Insured
|
No Opt. Call
|
AA+
|
8,219,780
|
||||
10,000
|
New Jersey Turnpike Authority, Revenue Bonds, Series 2003A, 5.000%, 1/01/20 – AGM Insured (UB)
|
7/13 at 100.00
|
AA+
|
10,589,800
|
Nuveen Investments
|
25
|
Nuveen Performance Plus Municipal Fund, Inc. (continued)
|
||
NPP
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
New Jersey (continued)
|
||||||||
$
|
8,920
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2002, 5.750%, 6/01/32 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
$
|
9,290,269
|
||
4,450
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2003, 6.750%, 6/01/39 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
5,007,096
|
||||
5,000
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 4.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
3,105,950
|
||||
93,730
|
Total New Jersey
|
57,667,338
|
||||||
New York – 5.2% (3.4% of Total Investments)
|
||||||||
5,500
|
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Kaleida Health, Series 2004, 5.050%, 2/15/25
|
2/14 at 100.00
|
AAA
|
5,573,920
|
||||
1,740
|
Dormitory Authority of the State of New York, Insured Revenue Bonds, 853 Schools Program, Gateway-Longview Inc., Series 1998A, 5.500%, 7/01/18 – AMBAC Insured
|
7/11 at 100.00
|
N/R
|
1,741,827
|
||||
1,500
|
Dormitory Authority of the State of New York, Revenue Bonds, St. Barnabas Hospital, Series 1997, 5.450%, 8/01/35 – AMBAC Insured
|
8/11 at 100.00
|
N/R
|
1,500,015
|
||||
13,220
|
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2002A, 5.500%, 11/15/26 – AGM Insured
|
11/12 at 100.00
|
AA+
|
13,742,190
|
||||
13,600
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2006B, 4.500%, 11/15/32 – AGM Insured (UB)
|
11/16 at 100.00
|
AA+
|
12,692,064
|
||||
2,000
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2004B, 5.000%, 8/01/24
|
8/13 at 100.00
|
AAA
|
2,102,260
|
||||
3,000
|
New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 1998A, 5.950%, 9/01/33 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
2,957,790
|
||||
2,650
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010, 6.000%, 12/01/42
|
12/20 at 100.00
|
BBB–
|
2,549,830
|
||||
43,210
|
Total New York
|
42,859,896
|
||||||
North Carolina – 1.7% (1.1% of Total Investments)
|
||||||||
5,500
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue Bonds, Series 2008A, 5.000%, 1/15/39
|
1/18 at 100.00
|
AA–
|
5,200,305
|
||||
4,900
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
1/15 at 100.00
|
AAA
|
5,587,568
|
||||
3,500
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/42
|
6/19 at 100.00
|
AA
|
3,350,935
|
||||
13,900
|
Total North Carolina
|
14,138,808
|
||||||
North Dakota – 0.5% (0.3% of Total Investments)
|
||||||||
3,910
|
Fargo, North Dakota, Health System Revenue Bonds, Sanford Series 2011, 6.250%, 11/01/31
|
11/21 at 100.00
|
AA–
|
4,081,374
|
||||
Ohio – 6.4% (4.2% of Total Investments)
|
||||||||
10,000
|
American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project Series 2008A, 5.250%, 2/15/43
|
2/18 at 100.00
|
A1
|
9,742,800
|
||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||
5,650
|
5.125%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
4,365,529
|
||||
5,640
|
5.875%, 6/01/30
|
6/17 at 100.00
|
Baa3
|
4,070,050
|
||||
4,875
|
5.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
3,358,875
|
||||
3,045
|
6.000%, 6/01/42
|
6/17 at 100.00
|
Baa3
|
2,114,022
|
||||
14,830
|
5.875%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
10,005,653
|
||||
5,300
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 0.000%, 6/01/37
|
6/22 at 100.00
|
Baa3
|
3,372,337
|
||||
6,720
|
Cleveland, Ohio, Airport System Revenue Bonds, Series 2001A, 5.000%,
1/01/31 – AGM Insured |
7/11 at 100.00
|
AA+
|
6,299,462
|
||||
2,305
|
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41
|
11/21 at 100.00
|
AA–
|
2,312,053
|
||||
3,650
|
Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A, 5.000%, 5/01/30
|
5/14 at 100.00
|
AA
|
3,549,625
|
26
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Ohio (continued)
|
||||||||
$
|
3,425
|
Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville Hydroelectric Project – Joint Venture 5, Series 2004, 5.000%,
2/15/19 – AMBAC Insured |
2/14 at 100.00
|
A1
|
$
|
3,595,325
|
||
65,440
|
Total Ohio
|
52,785,731
|
||||||
Pennsylvania – 3.4% (2.3% of Total Investments)
|
||||||||
1,250
|
Allegheny County Hospital Development Authority, Pennsylvania, University of Pittsburgh Medical Center Revenue Bonds, Series 2009A, 5.500%, 8/15/34
|
No Opt. Call
|
Aa3
|
1,222,600
|
||||
Bethlehem Authority, Northampton and Lehigh Counties, Pennsylvania, Guaranteed Water Revenue Bonds, Series 1998:
|
||||||||
3,125
|
0.000%, 5/15/22 – AGM Insured
|
No Opt. Call
|
AA+
|
1,973,344
|
||||
|
3,125
|
0.000%, 5/15/23 – AGM Insured
|
No Opt. Call
|
AA+
|
1,847,469
|
|||
3,135
|
0.000%, 5/15/24 – AGM Insured
|
No Opt. Call
|
AA+
|
1,743,029
|
||||
3,155
|
0.000%, 5/15/26 – AGM Insured
|
No Opt. Call
|
AA+
|
1,538,757
|
||||
4,145
|
0.000%, 11/15/26 – AGM Insured
|
No Opt. Call
|
AA+
|
1,973,932
|
||||
2,800
|
0.000%, 5/15/28 – AGM Insured
|
No Opt. Call
|
AA+
|
1,194,704
|
||||
3,000
|
0.000%, 11/15/28 – AGM Insured
|
No Opt. Call
|
AA+
|
1,248,450
|
||||
1,000
|
Pennsylvania Economic Development Financing Authority, Senior Lien Resource Recovery Revenue Bonds, Northampton Generating Project, Series 1994A, 6.500%, 1/01/13 (Alternative Minimum Tax)
|
7/11 at 100.00
|
CC
|
643,180
|
||||
100
|
Pennsylvania Economic Development Financing Authority, Subordinate Resource Recovery Revenue Bonds, Northampton Generating Project, Series 1994C, 6.875%, 1/01/12 (Alternative Minimum Tax) (5)
|
No Opt. Call
|
N/R
|
24,500
|
||||
5,000
|
Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%, 6/01/33 – AGM Insured
|
6/26 at 100.00
|
AA+
|
3,960,950
|
||||
11,890
|
Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010B, 5.000%, 5/15/40
|
5/20 at 100.00
|
AA
|
11,016,085
|
||||
41,725
|
Total Pennsylvania
|
28,387,000
|
||||||
Puerto Rico – 3.1% (2.1% of Total Investments)
|
||||||||
13,125
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 0.000%, 8/01/33
|
8/29 at 100.00
|
A+
|
9,312,056
|
||||
8,625
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41
|
8/20 at 100.00
|
A+
|
7,792,774
|
||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
||||||||
25,000
|
0.000%, 8/01/47 – AMBAC Insured
|
No Opt. Call
|
Aa2
|
2,166,500
|
||||
64,335
|
0.000%, 8/01/54 – AMBAC Insured
|
No Opt. Call
|
Aa2
|
3,349,923
|
||||
3,750
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Tender Option Bonds Trust 3101, 18.336%, 8/01/57 (IF)
|
8/17 at 100.00
|
Aa2
|
3,278,400
|
||||
114,835
|
Total Puerto Rico
|
25,899,653
|
||||||
Rhode Island – 0.7% (0.5% of Total Investments)
|
||||||||
2,000
|
Kent County Water Authority, Rhode Island, General Revenue Bonds, Series 2002A, 5.000%, 7/15/23 – NPFG Insured
|
7/12 at 100.00
|
A
|
2,029,820
|
||||
Rhode Island Health and Educational Building Corporation, Revenue Refunding Bonds, Salve Regina University, Series 2002:
|
||||||||
1,260
|
5.250%, 3/15/17 – RAAI Insured
|
3/12 at 101.00
|
N/R
|
1,279,769
|
||||
1,080
|
5.250%, 3/15/18 – RAAI Insured
|
3/12 at 101.00
|
N/R
|
1,094,310
|
||||
1,735
|
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.125%, 6/01/32
|
6/12 at 100.00
|
BBB
|
1,662,668
|
||||
6,075
|
Total Rhode Island
|
6,066,567
|
||||||
South Carolina – 2.8% (1.9% of Total Investments)
|
||||||||
2,725
|
Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds, Series 2004A, 5.250%, 2/15/25 – NPFG Insured
|
8/14 at 100.00
|
Baa1
|
2,770,126
|
||||
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2:
|
||||||||
26,955
|
0.000%, 1/01/31 – AMBAC Insured
|
No Opt. Call
|
A–
|
8,093,778
|
||||
14,700
|
0.000%, 1/01/32 – AMBAC Insured
|
No Opt. Call
|
A–
|
4,118,940
|
||||
8,330
|
Tobacco Settlement Revenue Management Authority, South Carolina, Tobacco Settlement Asset-Backed Bonds, Series 2001B, 6.000%, 5/15/22 (Pre-refunded 5/15/11)
|
5/11 at 101.00
|
BBB (4)
|
8,426,711
|
||||
52,710
|
Total South Carolina
|
23,409,555
|
Nuveen Investments
|
27
|
Nuveen Performance Plus Municipal Fund, Inc. (continued)
|
||
NPP
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Tennessee – 1.2% (0.8% of Total Investments)
|
||||||||
$
|
2,860
|
Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding and Improvement Bonds, Johnson City Medical Center, Series 1998C, 5.125%, 7/01/25 (Pre-refunded 7/01/23) – NPFG Insured
|
7/23 at 100.00
|
Baa1 (4)
|
$
|
2,868,637
|
||
115
|
Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 1999D, 6.000%, 3/01/24 – AMBAC Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
A2
|
115,151
|
||||
6,000
|
Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Refunding and Improvement Bonds, Meharry Medical College, Series 1996, 6.000%, 12/01/19 – AMBAC Insured
|
12/17 at 100.00
|
N/R
|
6,711,600
|
||||
8,975
|
Total Tennessee
|
9,695,388
|
||||||
Texas – 6.0% (4.0% of Total Investments)
|
||||||||
5,000
|
Bexar Metropolitan Water District, Texas, Waterworks System Revenue Bonds, Series 2006, 5.000%, 5/01/35 – NPFG Insured
|
5/16 at 100.00
|
A1
|
4,732,700
|
||||
2,500
|
Capital Area Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, The Roman Catholic Diocese of Austin, Series 2005B. Remarketed, 6.125%, 4/01/45
|
4/20 at 100.00
|
Baa2
|
2,401,750
|
||||
Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds, Series 2005:
|
||||||||
4,000
|
5.000%, 1/01/35 – FGIC Insured
|
1/15 at 100.00
|
BBB
|
3,258,920
|
||||
13,000
|
5.000%, 1/01/45 – FGIC Insured
|
1/15 at 100.00
|
BBB
|
10,129,600
|
||||
1,570
|
Harris County-Houston Sports Authority, Texas, Junior Lien Revenue Refunding Bonds, Series 2001B, 5.250%, 11/15/40 – NPFG Insured
|
11/11 at 100.00
|
Baa1
|
1,138,062
|
||||
4,000
|
Houston Community College System, Texas, Limited Tax General Obligation Bonds, Series 2003, 5.000%, 2/15/27 – AMBAC Insured (UB)
|
2/13 at 100.00
|
AA+
|
4,089,680
|
||||
3,885
|
Houston Independent School District, Public Facility Corporation, Harris County, Texas, Lease Revenue Bonds, Cesar E. Chavez High School, Series 1998A, 0.000%, 9/15/19 – AMBAC Insured
|
No Opt. Call
|
AA
|
2,779,523
|
||||
1,600
|
Houston, Texas, Senior Lien Airport System Revenue Bonds, Refunding Series 2009A, 5.500%, 7/01/39
|
7/18 at 100.00
|
AA–
|
1,623,520
|
||||
33,855
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2006, 0.000%, 8/15/40
|
8/14 at 23.67
|
AAA
|
6,232,706
|
||||
19,300
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2008, 0.000%, 8/15/41
|
8/17 at 24.20
|
AAA
|
3,250,892
|
||||
3,480
|
Pearland, Texas, General Obligation Bonds, Series 2002, 5.000%, 3/01/27 (Pre-refunded 3/01/12) – FGIC Insured
|
3/12 at 100.00
|
AA– (4)
|
3,615,476
|
||||
2,890
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White HealthCare Project, Series 2010, 5.500%, 8/15/45
|
8/20 at 100.00
|
A1
|
2,753,043
|
||||
4,000
|
Tarrant Regional Water District, Texas, Water Revenue Refunding and Improvement Bonds, Series 1999, 5.000%, 3/01/22 – AGM Insured
|
3/13 at 100.00
|
AAA
|
4,194,000
|
||||
99,080
|
Total Texas
|
50,199,872
|
||||||
Utah – 1.2% (0.8% of Total Investments)
|
||||||||
3,000
|
Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2009, 5.000%, 8/15/41
|
8/19 at 100.00
|
AA+
|
2,796,450
|
||||
1,485
|
Utah Housing Corporation, Single Family Mortgage Bonds, Series 2002A-1, 5.300%, 7/01/18 (Alternative Minimum Tax)
|
1/12 at 100.00
|
AA–
|
1,512,398
|
||||
390
|
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 2000D-1, 6.050%, 7/01/14 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA–
|
397,320
|
||||
485
|
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 2000E-1, Class II, 6.150%, 1/01/27 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA
|
485,243
|
||||
475
|
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 2000E-1, Class III, 6.000%, 1/01/15 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA–
|
483,811
|
28
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Utah (continued)
|
||||||||
$
|
650
|
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 2001A-2, 5.650%, 7/01/27 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA
|
$
|
650,312
|
||
475
|
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 2001B-1, 5.750%, 7/01/19 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aaa
|
490,675
|
||||
3,000
|
Utah Water Finance Agency, Revenue Bonds, Pooled Loan Financing Program, Series 2002C, 5.250%, 10/01/28 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
3,204,570
|
||||
9,960
|
Total Utah
|
10,020,779
|
||||||
Virgin Islands – 0.8% (0.5% of Total Investments)
|
||||||||
4,700
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%, 10/01/33 – RAAI Insured
|
10/14 at 100.00
|
BBB+
|
4,072,550
|
||||
2,500
|
Virgin Islands Public Finance Authority, Revenue Bonds, Refinery Project – Hovensa LLC, Series 2003, 6.125%, 7/01/22 (Alternative Minimum Tax)
|
1/14 at 100.00
|
Baa3
|
2,334,825
|
||||
7,200
|
Total Virgin Islands
|
6,407,375
|
||||||
Virginia – 2.2% (1.5% of Total Investments)
|
||||||||
10,500
|
Metropolitan Washington DC Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Series 2009C, 0.000%, 10/01/41 – AGC Insured
|
10/26 at 100.00
|
AA+
|
7,631,190
|
||||
18,000
|
Metropolitan Washington DC Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44
|
10/28 at 100.00
|
BBB+
|
10,623,240
|
||||
28,500
|
Total Virginia
|
18,254,430
|
||||||
Washington – 3.6% (2.4% of Total Investments)
|
||||||||
12,235
|
Chelan County Public Utility District 1, Washington, Columbia River-Rock Island Hydro-Electric System Revenue Refunding Bonds, Series 1997A, 0.000%, 6/01/26 – NPFG Insured
|
No Opt. Call
|
AA
|
5,499,755
|
||||
Cowlitz County Public Utilities District 1, Washington, Electric Production Revenue Bonds, Series 2004:
|
||||||||
465
|
5.000%, 9/01/22 – FGIC Insured
|
9/14 at 100.00
|
A1
|
479,373
|
||||
3,100
|
5.000%, 9/01/28 – FGIC Insured
|
9/14 at 100.00
|
A1
|
3,121,576
|
||||
5,000
|
Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 1, Series 2003A, 5.500%, 7/01/16 (UB)
|
7/13 at 100.00
|
Aaa
|
5,460,800
|
||||
2,000
|
Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 6.000%, 1/01/33
|
7/19 at 100.00
|
A
|
2,007,480
|
||||
10,000
|
Washington State Health Care Facilities Authority, Revenue Bonds, Providence Health Care Services, Series 2006A, 4.625%, 10/01/34 – FGIC Insured (UB)
|
10/16 at 100.00
|
AA
|
8,521,700
|
||||
5,000
|
Washington State Housing Finance Commission, Non-Profit Housing Revenue Bonds, Kline Galland Center, Series 1999, 6.000%, 7/01/29 – RAAI Insured
|
7/11 at 100.00
|
N/R
|
4,875,450
|
||||
37,800
|
Total Washington
|
29,966,134
|
||||||
West Virginia – 0.6% (0.4% of Total Investments)
|
||||||||
5,000
|
Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 5.500%, 10/01/22 (Mandatory put 10/01/11)
|
10/11 at 100.00
|
BBB (4)
|
5,020,000
|
Nuveen Investments
|
29
|
Nuveen Performance Plus Municipal Fund, Inc. (continued)
|
||
NPP
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Wisconsin – 2.0% (1.3% of Total Investments)
|
||||||||
$
|
11,620
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 1999, 6.250%, 2/15/29 – RAAI Insured
|
8/11 at 100.00
|
BBB+
|
$
|
11,618,722
|
||
5,350
|
Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Series 2005C, 4.875%, 3/01/36 (Alternative Minimum Tax) (UB)
|
9/14 at 100.00
|
AA
|
5,209,830
|
||||
16,970
|
Total Wisconsin
|
16,828,552
|
||||||
$
|
1,714,430
|
Total Investments (cost $1,282,652,166) – 152.3%
|
1,263,296,465
|
|||||
Floating Rate Obligations – (4.9)%
|
(40,825,000
|
)
|
||||||
Variable MuniFund Term Preferred Shares, at Liquidation Value – (50.8)% (6)
|
(421,700,000
|
)
|
||||||
Other Assets Less Liabilities – 3.4%
|
28,481,244
|
|||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
829,252,709
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Such investments are normally considered to be equivalent to AAA rated securities.
|
|
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
|
(6)
|
Variable MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 33.4%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
30
|
Nuveen Investments
|
Nuveen Municipal Advantage Fund, Inc.
|
||
NMA
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Alabama – 0.8% (0.5% of Total Investments)
|
||||||||
$
|
5,155
|
Phenix City Industrial Development Board, Alabama, Environmental Improvement Revenue Bonds, MeadWestvaco Corporation, Series 2002A, 6.350%, 5/15/35 (Alternative Minimum Tax)
|
5/12 at 100.00
|
BBB
|
$
|
4,971,636
|
||
Alaska – 0.9% (0.6% of Total Investments)
|
||||||||
Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A:
|
||||||||
1,125
|
5.250%, 12/01/34 – FGIC Insured (UB)
|
12/14 at 100.00
|
AA+
|
1,136,655
|
||||
1,280
|
5.250%, 12/01/41 – FGIC Insured (UB)
|
12/14 at 100.00
|
AA+
|
1,287,040
|
||||
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A:
|
||||||||
850
|
4.625%, 6/01/23
|
6/14 at 100.00
|
Baa3
|
746,487
|
||||
3,250
|
5.000%, 6/01/46
|
6/14 at 100.00
|
Baa3
|
1,934,919
|
||||
6,505
|
Total Alaska
|
5,105,101
|
||||||
Arizona – 3.2% (2.0% of Total Investments)
|
||||||||
3,465
|
Arizona Board of Regents, Certificates of Participation, Arizona State University, Refunding Series 2006, 5.000%, 7/01/25 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,559,144
|
||||
4,905
|
Maricopa County Industrial Development Authority, Arizona, Health Facility Revenue Bonds, Catholic Healthcare West, Series 2007A, 5.250%, 7/01/32
|
7/17 at 100.00
|
A
|
4,566,800
|
||||
10,700
|
Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 2008A, 5.000%, 7/01/38
|
7/18 at 100.00
|
AA–
|
10,269,431
|
||||
19,070
|
Total Arizona
|
18,395,375
|
||||||
California – 20.6% (13.1% of Total Investments)
|
||||||||
3,500
|
Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series 2004A, 0.000%, 10/01/25 – AMBAC Insured
|
10/17 at 100.00
|
A–
|
2,755,235
|
||||
Calexico Unified School District, Imperial County, California, General Obligation Bonds, Series 2005B:
|
||||||||
4,070
|
0.000%, 8/01/32 – FGIC Insured
|
No Opt. Call
|
A
|
897,923
|
||||
6,410
|
0.000%, 8/01/34 – FGIC Insured
|
No Opt. Call
|
A
|
1,210,593
|
||||
3,000
|
California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist Health System/West, Series 2003A, 5.000%, 3/01/33
|
3/13 at 100.00
|
A
|
2,680,800
|
||||
7,500
|
California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, Coalinga State Hospital, Series 2004A, 5.125%, 6/01/29
|
6/14 at 100.00
|
A2
|
7,061,100
|
||||
11,200
|
California State, General Obligation Bonds, Series 2003, 5.250%, 2/01/28
|
8/13 at 100.00
|
A1
|
11,278,288
|
||||
4,250
|
California State, General Obligation Bonds, Various Purpose Series 2010, 5.250%, 11/01/40
|
11/20 at 100.00
|
A1
|
4,116,848
|
||||
16,000
|
California State, Various Purpose General Obligation Bonds, Series 2007, 5.000%, 6/01/37
|
6/17 at 100.00
|
A1
|
14,971,360
|
||||
2,750
|
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38
|
8/19 at 100.00
|
Aa2
|
3,000,113
|
||||
9,955
|
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 0.000%, 9/01/31 – FGIC Insured
|
No Opt. Call
|
BBB
|
2,158,941
|
||||
Colton Joint Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2006C:
|
||||||||
3,800
|
0.000%, 2/01/33 – FGIC Insured
|
2/15 at 38.73
|
Aa3
|
827,488
|
||||
3,795
|
0.000%, 2/01/37 – FGIC Insured
|
No Opt. Call
|
Aa3
|
597,978
|
||||
6,980
|
Contra Costa County, California, GNMA Mortgage-Backed Securities Program Home Mortgage Revenue Bonds, Series 1989, 7.750%, 5/01/22 (Alternative Minimum Tax) (ETM)
|
No Opt. Call
|
AAA
|
8,928,537
|
||||
8,145
|
Cupertino Union School District, Santa Clara County, California, General Obligation Bonds, Series 2003B, 0.000%, 8/01/25 – FGIC Insured
|
8/13 at 55.54
|
Aa1
|
3,447,941
|
||||
2,510
|
Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 1, Series 2004B, 0.000%, 10/01/28 – NPFG Insured
|
No Opt. Call
|
Aa3
|
786,885
|
||||
3,360
|
Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 2, Series 2002A, 0.000%, 7/01/27 – NPFG Insured
|
No Opt. Call
|
Aa2
|
1,164,643
|
||||
2,315
|
Gateway Unified School District, California, General Obligation Bonds, Series 2004B, 0.000%, 8/01/32 – FGIC Insured
|
No Opt. Call
|
A1
|
518,977
|
Nuveen Investments
|
31
|
Nuveen Municipal Advantage Fund, Inc. (continued)
|
||
NMA
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
California (continued)
|
||||||||
$
|
3,000
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/26 – AGM Insured
|
No Opt. Call
|
AA+
|
$
|
1,190,160
|
||
1,000
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
610,150
|
||||
5,000
|
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2003A, 5.125%, 7/01/40 – FGIC Insured
|
7/12 at 100.00
|
AA
|
5,006,450
|
||||
1,275
|
Madera Unified School District, Madera County, California, General Obligation Bonds, Series 2002, 5.250%, 8/01/23 – AGM Insured
|
8/12 at 100.00
|
AA+
|
1,321,028
|
||||
2,200
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009C, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
2,269,784
|
||||
North Orange County Community College District, California, General Obligation Bonds, Series 2003B:
|
||||||||
7,735
|
0.000%, 8/01/25 – FGIC Insured
|
No Opt. Call
|
Aa1
|
3,319,939
|
||||
4,180
|
0.000%, 8/01/26 – FGIC Insured
|
No Opt. Call
|
Aa1
|
1,661,466
|
||||
2,590
|
Palmdale Community Redevelopment Agency, California, Residential Mortgage Revenue Refunding Bonds, Series 1991B, 7.375%, 2/01/12 (ETM)
|
No Opt. Call
|
AAA
|
2,709,062
|
||||
5,000
|
Palmdale Community Redevelopment Agency, California, Single Family Restructured Mortgage Revenue Bonds, Series 1986A, 8.000%, 3/01/16 (Alternative Minimum Tax) (ETM)
|
No Opt. Call
|
AAA
|
6,283,450
|
||||
9,315
|
Perris, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Bonds, Series 1989A, 7.600%, 1/01/23 (Alternative Minimum Tax) (ETM)
|
No Opt. Call
|
AAA
|
11,690,045
|
||||
3,205
|
San Diego Community College District, California, General Obligation Bonds, Series 2005, 5.000%, 5/01/25 – AGM Insured
|
5/15 at 100.00
|
AA+
|
3,336,501
|
||||
1,830
|
San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 3504, 19.580%, 2/01/33 (IF)
|
8/19 at 100.00
|
Aa2
|
2,032,105
|
||||
7,660
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Senior Lien Toll Road Revenue Bonds, Series 1993, 0.000%, 1/01/24 (ETM)
|
No Opt. Call
|
AAA
|
4,683,630
|
||||
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A:
|
||||||||
7,205
|
0.000%, 1/15/23 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,814,417
|
||||
23,000
|
0.000%, 1/15/35 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,358,190
|
||||
7,250
|
San Jose-Evergreen Community College District, Santa Clara County, California, General Obligation Bonds, Series 2005A, 0.000%, 9/01/29 – NPFG Insured
|
9/15 at 47.82
|
Aa1
|
2,152,380
|
||||
190,985
|
Total California
|
119,842,407
|
||||||
Colorado – 9.7% (6.2% of Total Investments)
|
||||||||
1,600
|
Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 – SYNCORA GTY Insured
|
10/16 at 100.00
|
BBB
|
1,316,640
|
||||
9,440
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 4.500%, 9/01/38
|
9/16 at 100.00
|
AA
|
7,890,896
|
||||
3,335
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.500%, 7/01/34
|
7/19 at 100.00
|
AA
|
3,347,773
|
||||
7,500
|
Colorado Health Facilities Authority, Health Facilities Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
No Opt. Call
|
AA
|
6,890,775
|
||||
1,150
|
Colorado Health Facilities Authority, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 – AGM Insured
|
9/18 at 102.00
|
AA+
|
1,080,471
|
||||
Denver City and County, Colorado, Airport Revenue Bonds, Series 2006:
|
||||||||
5,365
|
5.000%, 11/15/23 – FGIC Insured (UB)
|
11/16 at 100.00
|
A+
|
5,594,354
|
||||
3,300
|
5.000%, 11/15/24 – FGIC Insured
|
11/16 at 100.00
|
A+
|
3,417,579
|
||||
4,340
|
5.000%, 11/15/25 – FGIC Insured (UB)
|
11/16 at 100.00
|
A+
|
4,464,645
|
||||
2,000
|
Denver Convention Center Hotel Authority, Colorado, Senior Revenue Bonds, Convention Center Hotel, Series 2006, 4.750%, 12/01/35 – SYNCORA GTY Insured
|
11/16 at 100.00
|
BBB–
|
1,488,560
|
||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B:
|
||||||||
2,650
|
0.000%, 9/01/16 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,016,094
|
||||
8,645
|
0.000%, 9/01/26 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,782,047
|
32
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Colorado (continued)
|
||||||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
|
||||||||
$
|
7,500
|
0.000%, 9/01/29 – NPFG Insured
|
No Opt. Call
|
Baa1
|
$
|
1,836,975
|
||
10,000
|
0.000%, 9/01/31 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,076,400
|
||||
10,000
|
0.000%, 9/01/32 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,914,100
|
||||
Platte River Power Authority, Colorado, Power Revenue Refunding Bonds, Series 2002EE:
|
||||||||
1,030
|
5.375%, 6/01/17 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AA (4)
|
1,086,290
|
||||
4,890
|
5.375%, 6/01/18 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AA (4)
|
5,157,238
|
||||
Platte River Power Authority, Colorado, Power Revenue Refunding Bonds, Series 2002EE:
|
||||||||
970
|
5.375%, 6/01/17
|
6/12 at 100.00
|
AA
|
1,013,272
|
||||
110
|
5.375%, 6/01/18
|
6/12 at 100.00
|
AA
|
114,491
|
||||
3,110
|
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.000%, 1/15/34
|
7/20 at 100.00
|
Baa3
|
2,905,424
|
||||
86,935
|
Total Colorado
|
56,394,024
|
||||||
District of Columbia – 0.2% (0.1% of Total Investments)
|
||||||||
1,145
|
District of Columbia Housing Finance Agency, GNMA/FNMA Single Family Mortgage Revenue Bonds, Series 1997B, 5.900%, 12/01/28 (Alternative Minimum Tax)
|
6/11 at 100.00
|
AAA
|
1,186,150
|
||||
Florida – 3.3% (2.1% of Total Investments)
|
||||||||
2,770
|
Florida Housing Finance Corporation, Housing Revenue Bonds, Stratford Point Apartments, Series 2000O-1, 5.850%, 12/01/31 – AGM Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
AA+
|
2,770,747
|
||||
3,500
|
JEA St. John’s River Power Park System, Florida, Revenue Refunding Bonds, Issue 2, Series 2002-17, 5.000%, 10/01/17
|
10/11 at 100.00
|
Aa2
|
3,557,015
|
||||
14,730
|
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007, 5.000%, 8/15/42 (UB)
|
8/17 at 100.00
|
AA
|
13,133,415
|
||||
21,000
|
Total Florida
|
19,461,177
|
||||||
Georgia – 1.8% (1.1% of Total Investments)
|
||||||||
4,000
|
Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2004, 5.250%, 10/01/39 – AGM Insured
|
10/14 at 100.00
|
AA+
|
4,025,320
|
||||
2,900
|
Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical Center, Series 2004, 5.000%, 12/01/26
|
12/14 at 100.00
|
BBB–
|
2,614,524
|
||||
1,250
|
DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30
|
9/20 at 100.00
|
N/R
|
1,172,488
|
||||
2,500
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 7.625%, 12/01/30
|
12/20 at 100.00
|
N/R
|
2,452,500
|
||||
10,650
|
Total Georgia
|
10,264,832
|
||||||
Hawaii – 0.0% (0.0% of Total Investments)
|
||||||||
210
|
Hawaii Housing Finance and Development Corporation, Single Family Mortgage Purchase Revenue Bonds, Series 1997A, 5.750%, 7/01/30 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AAA
|
211,612
|
||||
Illinois – 12.7% (8.1% of Total Investments)
|
||||||||
4,345
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/28 – FGIC Insured
|
No Opt. Call
|
Aa2
|
1,371,412
|
||||
4,260
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A, 0.000%, 12/01/31 – FGIC Insured
|
No Opt. Call
|
Aa2
|
1,053,157
|
||||
5,000
|
Chicago, Illinois, Second Lien Passenger Facility Charge Revenue Bonds, O’Hare International Airport, Series 2001A, 5.375%, 1/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
7/11 at 101.00
|
A2
|
4,634,950
|
||||
7,100
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
7,120,945
|
||||
1,500
|
Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39
|
11/19 at 100.00
|
AA
|
1,433,595
|
||||
2,000
|
Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Series 2008A, 5.250%, 8/15/47 – AGC Insured (UB)
|
8/18 at 100.00
|
AA+
|
1,759,680
|
||||
8,395
|
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond Trust 1137, 9.156%, 7/01/15 (IF)
|
No Opt. Call
|
Aa1
|
7,825,315
|
||||
2,500
|
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38
|
8/19 at 100.00
|
BBB
|
2,488,975
|
Nuveen Investments
|
33
|
Nuveen Municipal Advantage Fund, Inc. (continued)
|
||
NMA
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Illinois (continued)
|
||||||||
$
|
4,000
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 6.000%, 8/15/23
|
8/18 at 100.00
|
BBB
|
$
|
3,995,800
|
||
6,000
|
Illinois Health Facilities Authority, Revenue Bonds, Condell Medical Center, Series 2002, 5.750%, 5/15/22 (Pre-refunded 5/15/12)
|
5/12 at 100.00
|
Aaa
|
6,325,200
|
||||
5,115
|
Illinois Health Facilities Authority, Revenue Bonds, Loyola University Health System, Series 1997A, 5.000%, 7/01/24 – NPFG Insured
|
7/11 at 100.00
|
Baa1
|
4,725,749
|
||||
10,740
|
Lake and McHenry Counties Community Unit School District 118, Wauconda, Illinois, General Obligation Bonds, Series 2005B, 0.000%, 1/01/23 – AGM Insured
|
1/15 at 66.94
|
Aa3
|
5,617,664
|
||||
1,090
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A, 0.000%, 6/15/21 – FGIC Insured
|
No Opt. Call
|
A2
|
646,490
|
||||
3,175
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 6/15/41 – NPFG Insured
|
No Opt. Call
|
AAA
|
422,212
|
||||
6,000
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1996A, 0.000%, 6/15/24 – NPFG Insured
|
No Opt. Call
|
A2
|
2,874,780
|
||||
4,310
|
Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1990A, 7.200%, 11/01/20 – AMBAC Insured
|
No Opt. Call
|
Aa3
|
5,118,556
|
||||
1,940
|
University of Illinois, Auxiliary Facilities Systems Revenue Bonds, Series 2003A, 5.000%, 4/01/23 – AMBAC Insured
|
4/13 at 100.00
|
Aa2
|
1,967,878
|
||||
7,500
|
Valley View Public Schools, Community Unit School District 365U of Will County, Illinois, General Obligation Bonds, Series 2005, 0.000%, 11/01/25 – NPFG Insured
|
No Opt. Call
|
AA
|
3,241,725
|
||||
23,125
|
Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2006, 0.000%, 1/01/24 – AGM Insured
|
No Opt. Call
|
Aa2
|
11,274,363
|
||||
108,095
|
Total Illinois
|
73,898,446
|
||||||
Indiana – 2.5% (1.6% of Total Investments)
|
||||||||
2,600
|
Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2000, 0.000%, 1/15/24 – NPFG Insured
|
No Opt. Call
|
A
|
1,307,592
|
||||
1,570
|
Hospital Authority of Delaware County, Indiana, Hospital Revenue Refunding Bonds, Cardinal Health System, Series 1997, 5.000%, 8/01/16 – AMBAC Insured
|
7/11 at 100.00
|
N/R
|
1,540,829
|
||||
4,030
|
Indiana Finance Authority Health System Revenue Bonds, Sisters of St. Francis Health Services, Inc. Obligated Group, Series 2009, 5.250%, 11/01/39
|
11/19 at 100.00
|
Aa3
|
3,738,550
|
||||
6,000
|
Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2009A, 5.250%, 12/01/38
|
12/19 at 100.00
|
AA
|
5,579,340
|
||||
2,435
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
BBB+
|
2,196,394
|
||||
1,005
|
St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Madison Center Inc., Series 1999, 5.450%, 2/15/12 (5)
|
8/11 at 100.00
|
N/R
|
261,099
|
||||
17,640
|
Total Indiana
|
14,623,804
|
||||||
Iowa – 1.7% (1.1% of Total Investments)
|
||||||||
6,300
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.375%, 6/01/38
|
6/15 at 100.00
|
BBB
|
4,468,653
|
||||
250
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
BBB
|
199,600
|
||||
5,000
|
Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2001B, 5.600%, 6/01/35 (Pre-refunded 6/01/11)
|
6/11 at 101.00
|
AAA
|
5,073,550
|
||||
11,550
|
Total Iowa
|
9,741,803
|
||||||
Kansas – 1.2% (0.8% of Total Investments)
|
||||||||
3,715
|
Overland Park Development Corporation, Kansas, First Tier Revenue Bonds, Overland Park Convention Center, Series 2007A, 5.125%, 1/01/22 – AMBAC Insured
|
1/17 at 100.00
|
Baa3
|
3,416,351
|
||||
1,750
|
Wamego, Kansas, Pollution Control Revenue Bonds, Kansas Gas and Electric Company, Series 2004, 5.300%, 6/01/31 – NPFG Insured
|
6/14 at 100.00
|
BBB+
|
1,755,583
|
||||
3,730
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area
B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 |
No Opt. Call
|
N/R
|
2,066,308
|
||||
9,195
|
Total Kansas
|
7,238,242
|
34
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Kentucky – 1.4% (0.9% of Total Investments)
|
||||||||
$
|
6,015
|
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro Medical Health System, Series 2010B, 6.375%, 3/01/40
|
6/20 at 100.00
|
Baa2
|
$
|
5,707,513
|
||
1,500
|
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System, Series 2009A, 5.375%, 8/15/24
|
8/19 at 100.00
|
Aa3
|
1,534,830
|
||||
1,000
|
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/33 – AGC Insured
|
6/18 at 100.00
|
AA+
|
1,025,720
|
||||
8,515
|
Total Kentucky
|
8,268,063
|
||||||
Louisiana – 14.1% (9.0% of Total Investments)
|
||||||||
13,500
|
DeSoto Parish, Louisiana, Pollution Control Revenue Refunding Bonds, Cleco Utility Group Inc. Project, Series 1999, 5.875%, 9/01/29 – AMBAC Insured
|
9/11 at 100.00
|
BBB
|
13,499,325
|
||||
Louisiana Public Facilities Authority, Extended Care Facilities Revenue Bonds, Comm-Care Corporation Project, Series 1994:
|
||||||||
405
|
11.000%, 2/01/14 (ETM)
|
No Opt. Call
|
N/R (4)
|
470,177
|
||||
3,735
|
11.000%, 2/01/14 (ETM)
|
No Opt. Call
|
N/R (4)
|
4,336,074
|
||||
6,650
|
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%, 7/01/33 – NPFG Insured
|
7/14 at 100.00
|
Baa1
|
6,555,238
|
||||
9,000
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A, 5.500%, 5/15/47
|
5/17 at 100.00
|
Baa1
|
7,492,590
|
||||
28
|
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, Trust 660, 15.745%, 5/01/34 (IF)
|
5/16 at 100.00
|
Aa1
|
18,672
|
||||
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A:
|
||||||||
10,000
|
5.000%, 5/01/41 – FGIC Insured (UB)
|
5/16 at 100.00
|
Aa1
|
10,006,500
|
||||
20,690
|
4.500%, 5/01/41 – FGIC Insured (UB)
|
5/16 at 100.00
|
Aa1
|
18,926,178
|
||||
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B:
|
||||||||
7,505
|
5.500%, 5/15/30
|
5/11 at 101.00
|
A
|
7,408,936
|
||||
14,365
|
5.875%, 5/15/39
|
5/11 at 101.00
|
A–
|
13,109,930
|
||||
85,878
|
Total Louisiana
|
81,823,620
|
||||||
Maryland – 0.9% (0.5% of Total Investments)
|
||||||||
5,000
|
Washington Suburban Sanitary District, Montgomery and Prince George’s Counties, Maryland, General Obligation Bonds, Consolidated Public Improvement, Series 2010A, 2.000%, 6/01/11
|
No Opt. Call
|
AAA
|
5,007,900
|
||||
Massachusetts – 2.7% (1.7% of Total Investments)
|
||||||||
2,500
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2003A, 5.250%, 7/01/11
|
No Opt. Call
|
AAA
|
2,521,525
|
||||
8,825
|
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior Lien Series 2010B, 5.000%, 1/01/32
|
1/20 at 100.00
|
A
|
8,813,086
|
||||
620
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.125%, 7/01/33
|
7/18 at 100.00
|
A3
|
551,819
|
||||
1,750
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial Healthcare, Series 1998A, 5.000%, 7/01/28 – AMBAC Insured
|
7/11 at 100.00
|
BBB+
|
1,597,138
|
||||
2,300
|
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39
|
7/19 at 100.00
|
BBB
|
2,181,734
|
||||
15,995
|
Total Massachusetts
|
15,665,302
|
||||||
Michigan – 1.1% (0.7% of Total Investments)
|
||||||||
6,250
|
Michigan State Building Authority, Revenue Bonds, Refunding Series 2006IA, 0.000%, 10/15/30 – FGIC Insured
|
10/16 at 50.02
|
Aa3
|
1,813,875
|
||||
2,000
|
Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Oakwood Obligated Group, Series 2003, 5.500%, 11/01/11
|
No Opt. Call
|
A
|
2,038,320
|
||||
3,050
|
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42
|
6/18 at 100.00
|
Baa3
|
2,689,551
|
||||
11,300
|
Total Michigan
|
6,541,746
|
Nuveen Investments
|
35
|
Nuveen Municipal Advantage Fund, Inc. (continued)
|
||
NMA
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Missouri – 1.0% (0.6% of Total Investments)
|
||||||||
$
|
1,500
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Metrolink Cross County Extension Project, Series 2002B, 5.000%, 10/01/32 – AGM Insured
|
10/13 at 100.00
|
AA+
|
$
|
1,505,700
|
||
12,005
|
Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1, 0.000%, 4/15/29 – AMBAC Insured
|
No Opt. Call
|
AA–
|
4,081,340
|
||||
40
|
Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2000A-1, 7.500%, 3/01/31 (Alternative Minimum Tax)
|
9/11 at 100.00
|
AAA
|
41,539
|
||||
13,545
|
Total Missouri
|
5,628,579
|
||||||
Nevada – 3.6% (2.4% of Total Investments)
|
||||||||
15,000
|
Clark County, Nevada, Airport Revenue Bonds, Subordinte Lien Series 2010B, 5.750%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
15,161,850
|
||||
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000:
|
||||||||
3,025
|
0.000%, 1/01/16 – AMBAC Insured
|
No Opt. Call
|
N/R
|
571,302
|
||||
7,910
|
5.375%, 1/01/40 – AMBAC Insured (5)
|
7/11 at 100.00
|
N/R
|
1,983,670
|
||||
3,750
|
Henderson, Nevada, Healthcare Facility Revenue Refunding Bonds, Catholic Healthcare West, Series 2007B, Trust 2633, 18.765%, 7/01/31 – BHAC Insured (IF)
|
7/17 at 100.00
|
AA+
|
3,910,200
|
||||
165
|
Nevada Housing Division, Single Family Mortgage Bonds, Senior Series 1997C-2, 5.750%, 4/01/29 (Alternative Minimum Tax)
|
10/11 at 100.00
|
Aaa
|
169,460
|
||||
29,850
|
Total Nevada
|
21,796,482
|
||||||
New Hampshire – 0.3% (0.2% of Total Investments)
|
||||||||
1,500
|
New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39
|
10/19 at 100.00
|
BBB+
|
1,479,045
|
||||
New Jersey – 3.9% (2.5% of Total Investments)
|
||||||||
15,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/30 – FGIC Insured
|
No Opt. Call
|
A+
|
4,123,950
|
||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2002:
|
||||||||
9,735
|
5.750%, 6/01/32 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
10,139,100
|
||||
5,050
|
6.125%, 6/01/42 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
5,367,544
|
||||
5,000
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 4.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
3,105,950
|
||||
34,785
|
Total New Jersey
|
22,736,544
|
||||||
New Mexico – 0.5% (0.3% of Total Investments)
|
||||||||
3,000
|
Santa Fe Public School District, Santa Fe County, New Mexico, General Obligation Bonds, Series 2009, 2.500%, 8/01/11
|
No Opt. Call
|
Aa1
|
3,017,220
|
||||
New York – 5.4% (3.5% of Total Investments)
|
||||||||
7,000
|
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, Series 2002A, 5.125%, 1/01/29
|
7/12 at 100.00
|
AA–
|
7,018,830
|
||||
4,975
|
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, British Airways PLC, Series 1998, 5.250%, 12/01/32 (Alternative Minimum Tax)
|
6/11 at 100.00
|
BB–
|
3,664,884
|
||||
3,000
|
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, British Airways PLC, Series 2002, 7.625%, 12/01/32 (Alternative Minimum Tax)
|
12/12 at 101.00
|
BB–
|
3,013,950
|
||||
10,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Series 2004B, 5.000%, 6/15/36 – AGM Insured (UB)
|
12/14 at 100.00
|
AAA
|
10,040,500
|
||||
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010:
|
||||||||
6,065
|
6.500%, 12/01/28
|
12/15 at 100.00
|
BBB–
|
6,202,918
|
||||
1,660
|
6.000%, 12/01/36
|
12/20 at 100.00
|
BBB–
|
1,612,391
|
||||
32,700
|
Total New York
|
31,553,473
|
36
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
North Carolina – 2.8% (1.8% of Total Investments)
|
||||||||
$
|
3,000
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005, 5.250%, 1/01/20 – AMBAC Insured
|
1/16 at 100.00
|
A–
|
$
|
3,248,940
|
||
980
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 10A, 5.400%, 7/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA
|
976,247
|
||||
3,645
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 7A, 6.250%, 1/01/29 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA
|
3,647,151
|
||||
3,465
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 9A, 5.875%, 7/01/31 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA
|
3,466,040
|
||||
3,500
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/42
|
6/19 at 100.00
|
AA
|
3,350,935
|
||||
1,900
|
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.750%, 1/01/39 – AGC Insured
|
1/19 at 100.00
|
AA+
|
1,931,027
|
||||
16,490
|
Total North Carolina
|
16,620,340
|
||||||
North Dakota – 0.6% (0.4% of Total Investments)
|
||||||||
1,500
|
Fargo, North Dakota, Health System Revenue Bonds, Sanford Series 2011, 6.000%, 11/01/28
|
11/21 at 100.00
|
AA–
|
1,558,020
|
||||
2,350
|
Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2006, 5.125%, 7/01/25
|
7/16 at 100.00
|
BBB+
|
2,250,478
|
||||
3,850
|
Total North Dakota
|
3,808,498
|
||||||
Ohio – 7.5% (4.8% of Total Investments)
|
||||||||
4,220
|
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Facilities Revenue Bonds, Summa Health System, Series 1998A, 5.375%, 11/15/18
|
5/11 at 100.00
|
Baa1
|
4,221,730
|
||||
10,000
|
American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project Series 2008A, 5.250%, 2/15/43
|
2/18 at 100.00
|
A1
|
9,742,800
|
||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||
1,595
|
5.125%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
1,232,393
|
||||
2,700
|
5.875%, 6/01/30
|
6/17 at 100.00
|
Baa3
|
1,948,428
|
||||
9,135
|
5.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
6,294,015
|
||||
3,920
|
6.000%, 6/01/42
|
6/17 at 100.00
|
Baa3
|
2,721,499
|
||||
5,895
|
5.875%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
3,977,298
|
||||
5,275
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 0.000%, 6/01/37
|
6/22 at 100.00
|
Baa3
|
3,356,430
|
||||
7,050
|
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19
|
No Opt. Call
|
BBB–
|
7,108,445
|
||||
2,650
|
Ohio, General Obligation Bonds, Higher Education, Series 2003A, 5.000%, 5/01/22
|
5/13 at 100.00
|
AA+
|
2,785,707
|
||||
52,440
|
Total Ohio
|
43,388,745
|
||||||
Oklahoma – 2.5% (1.6% of Total Investments)
|
||||||||
1,675
|
Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Series 2008B, 5.250%, 8/15/38
|
8/18 at 100.00
|
AA–
|
1,665,235
|
||||
12,000
|
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007, 5.000%, 2/15/42
|
2/17 at 100.00
|
A
|
11,096,640
|
||||
2,000
|
Oklahoma Municipal Power Authority, Power Supply System Revenue Bonds, Series 2007, 4.500%, 1/01/47 – FGIC Insured
|
1/17 at 100.00
|
A
|
1,738,960
|
||||
15,675
|
Total Oklahoma
|
14,500,835
|
||||||
Oregon – 0.5% (0.3% of Total Investments)
|
||||||||
3,000
|
Oregon State Facilities Authority, Revenue Bonds, Willamette University, Series 2007A, 5.000%, 10/01/36
|
10/17 at 100.00
|
A
|
2,701,170
|
Nuveen Investments
|
37
|
Nuveen Municipal Advantage Fund, Inc. (continued)
|
||
NMA
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Pennsylvania – 5.0% (3.2% of Total Investments)
|
||||||||
$
|
5,000
|
Allegheny County Hospital Development Authority, Pennsylvania, University of Pittsburgh Medical Center Revenue Bonds, Series 2009A, 5.625%, 8/15/39
|
No Opt. Call
|
Aa3
|
$
|
4,940,200
|
||
1,250
|
Erie Water Authority, Pennsylvania, Water Revenue Bonds, Series 2008, 5.000%, 12/01/43 – AGM Insured
|
12/18 at 100.00
|
AA+
|
1,225,313
|
||||
7,100
|
Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010, 5.750%, 8/01/30
|
8/15 at 100.00
|
AA
|
7,714,718
|
||||
1,000
|
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2003, 5.375%, 7/15/29
|
7/13 at 100.00
|
BBB+
|
1,000,220
|
||||
1,500
|
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-96A, 4.650%, 10/01/31 (Alternative Minimum Tax) (UB)
|
10/16 at 100.00
|
AA+
|
1,365,240
|
||||
2,600
|
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 – AMBAC Insured
|
12/14 at 100.00
|
Aa3
|
2,628,496
|
||||
10,000
|
Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010B, 5.250%, 5/15/30
|
5/20 at 100.00
|
AA
|
9,987,800
|
||||
28,450
|
Total Pennsylvania
|
28,861,987
|
||||||
Puerto Rico – 7.9% (5.0% of Total Investments)
|
||||||||
5,000
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2005RR, 5.000%, 7/01/26 – SYNCORA GTY Insured
|
7/15 at 100.00
|
A3
|
4,754,500
|
||||
10,000
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010XX, 5.750%, 7/01/36
|
7/20 at 100.00
|
A3
|
9,676,500
|
||||
10,070
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/39 – FGIC Insured
|
No Opt. Call
|
A3
|
8,862,909
|
||||
10,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
10,018,200
|
||||
9,310
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41
|
8/20 at 100.00
|
A+
|
8,411,678
|
||||
4,000
|
Puerto Rico, General Obligation Bonds, Series 2000B, 5.625%, 7/01/19 – NPFG Insured
|
7/11 at 100.00
|
A3
|
4,002,360
|
||||
48,380
|
Total Puerto Rico
|
45,726,147
|
||||||
Rhode Island – 1.3% (0.9% of Total Investments)
|
||||||||
1,235
|
Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Series 1996, 5.500%, 5/15/16 – NPFG Insured
|
7/11 at 100.00
|
A3
|
1,237,198
|
||||
7,000
|
Rhode Island Housing and Mortgage Finance Corporation, Homeownership Opportunity Bond Program, Series 50A, 4.650%, 10/01/34
|
10/14 at 100.00
|
AA+
|
6,497,890
|
||||
8,235
|
Total Rhode Island
|
7,735,088
|
||||||
South Carolina – 3.3% (2.1% of Total Investments)
|
||||||||
10,000
|
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2002, 6.000%, 12/01/20 (Pre-refunded 12/01/12)
|
12/12 at 101.00
|
AA (4)
|
10,975,600
|
||||
2,500
|
Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and Improvement Bonds, Series 2003, 5.750%, 11/01/28 (Pre-refunded 11/01/13)
|
11/13 at 100.00
|
AA– (4)
|
2,816,025
|
||||
3,000
|
Myrtle Beach, South Carolina, Hospitality and Accommodation Fee Revenue Bonds, Series 2004A, 5.000%, 6/01/36 – FGIC Insured
|
6/14 at 100.00
|
A+
|
2,745,630
|
||||
1,220
|
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2, 0.000%, 1/01/23 – FGIC Insured
|
No Opt. Call
|
A–
|
652,785
|
||||
2,125
|
South Carolina Public Service Authority, Revenue Refunding Bonds, Santee Cooper Electric System, Series 2003A, 5.000%, 1/01/21 – AMBAC Insured
|
7/13 at 100.00
|
Aa2
|
2,270,626
|
||||
18,845
|
Total South Carolina
|
19,460,666
|
||||||
South Dakota – 0.5% (0.3% of Total Investments)
|
||||||||
2,945
|
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2007, 5.000%, 11/01/40
|
5/17 at 100.00
|
AA–
|
2,759,760
|
38
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Tennessee – 3.9% (2.5% of Total Investments)
|
||||||||
$
|
6,000
|
Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds, Baptist Health System of East Tennessee Inc., Series 2002, 6.500%, 4/15/31
|
4/12 at 101.00
|
A1
|
$
|
6,224,580
|
||
20,415
|
Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Refunding Bonds, Covenant Health, Series 2002A, 0.000%, 1/01/18 – AGM Insured
|
1/13 at 75.87
|
AA+
|
14,598,767
|
||||
1,750
|
Metropolitan Government of Nashville-Davidson County, Tennessee, Electric System Revenue Bonds, Series 2001A, 5.125%, 5/15/26
|
5/11 at 100.00
|
AA+
|
1,753,360
|
||||
1,500
|
Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/46 (5), (6)
|
11/17 at 100.00
|
N/R
|
75,150
|
||||
29,665
|
Total Tennessee
|
22,651,857
|
||||||
Texas – 16.2% (10.3% of Total Investments)
|
||||||||
2,000
|
Abilene Higher education Authority, Inc., Texas, Student Loan Revenue Bonds, Subordinate Series 1998B, 5.050%, 7/01/13 (Pre-Refunded 6/01/11) (Alternative Minimum Tax)
|
6/11 at 100.00
|
Aa3 (4)
|
2,004,040
|
||||
11,810
|
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 2001C, 5.750%, 5/01/36 (Mandatory put 11/01/11) (Alternative Minimum Tax)
|
No Opt. Call
|
CC
|
11,568,958
|
||||
6,000
|
Brazos River Authority, Texas, Revenue Refunding Bonds, Houston Lighting and Power Company, Series 1998, 5.050%, 11/01/18 – AMBAC Insured (Alternative Minimum Tax)
|
No Opt. Call
|
A3
|
5,944,620
|
||||
2,000
|
Capital Area Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, The Roman Catholic Diocese of Austin, Series 2005B. Remarketed, 6.125%, 4/01/45
|
4/20 at 100.00
|
Baa2
|
1,921,400
|
||||
4,250
|
Ennis Independent School District, Ellis County, Texas, General Obligation Bonds, Series 2006, 0.000%, 8/15/26
|
8/16 at 60.73
|
Aaa
|
2,008,890
|
||||
8,400
|
Gulf Coast Waste Disposal Authority, Texas, Waste Disposal Revenue Bonds, Valero Energy Corporation, Series 1999, 5.700%, 4/01/32 (Alternative Minimum Tax)
|
10/11 at 100.00
|
BBB
|
7,717,584
|
||||
7,500
|
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO Project, Series 2003, 5.000%, 11/15/30 – NPFG Insured
|
11/13 at 100.00
|
AA
|
7,522,875
|
||||
1,540
|
Houston Community College System, Texas, Limited Tax General Obligation Bonds, Series 2003, 5.000%, 2/15/28 – AMBAC Insured (UB)
|
2/13 at 100.00
|
AA+
|
1,562,977
|
||||
3,460
|
Houston Community College System, Texas, Limited Tax General Obligation Bonds, Series 2003, 5.000%, 2/15/28 (Pre-refunded 2/15/13) – AMBAC Insured
|
2/13 at 100.00
|
AA+ (4)
|
3,731,921
|
||||
2,000
|
Houston, Texas, Water Conveyance System Contract, Certificates of Participation, Series 1993A-J, 6.800%, 12/15/11 – AMBAC Insured
|
No Opt. Call
|
N/R
|
2,047,220
|
||||
6,080
|
Laredo Independent School District, Webb County, Texas, General Obligation Bonds, Series 2006, 5.000%, 8/01/29
|
8/16 at 100.00
|
AAA
|
6,360,835
|
||||
9,150
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2004, 0.000%, 8/15/31
|
8/12 at 33.31
|
AAA
|
2,846,016
|
||||
9,345
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2005, 0.000%, 8/15/34 – FGIC Insured
|
8/15 at 35.34
|
AA–
|
2,550,998
|
||||
16,305
|
Matagorda County Navigation District 1, Texas, Revenue Bonds, Reliant Energy Inc., Series 1999B, 5.950%, 5/01/30 (Alternative Minimum Tax)
|
11/11 at 100.00
|
BBB–
|
15,198,217
|
||||
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation Series 2008I:
|
||||||||
2,555
|
0.000%, 1/01/42 – AGC Insured
|
1/25 at 100.00
|
AA+
|
2,046,581
|
||||
7,000
|
0.000%, 1/01/43
|
1/25 at 100.00
|
A2
|
5,577,670
|
||||
3,500
|
Northside Independent School District, Bexar County, Texas, General Obligation Bonds, Series 2001A, 5.000%, 8/01/27
|
8/11 at 100.00
|
AAA
|
3,525,480
|
||||
3,425
|
Sabine River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 2001A, 5.500%, 5/01/22 (Mandatory put 11/01/11)
|
No Opt. Call
|
CC
|
3,355,096
|
||||
4,700
|
Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series 2002A, 6.000%, 10/01/21
|
10/12 at 100.00
|
Baa2
|
4,769,325
|
||||
3,000
|
Wylie Independent School District, Collin County, Texas, General Obligation Bonds, Series 2005, 0.000%, 8/15/21
|
8/15 at 74.57
|
AAA
|
1,884,750
|
||||
114,020
|
Total Texas
|
94,145,453
|
Nuveen Investments
|
39
|
Nuveen Municipal Advantage Fund, Inc. (continued)
|
||
NMA
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Utah – 0.5% (0.3% of Total Investments)
|
||||||||
$
|
3,000
|
Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2009, 5.000%, 8/15/41
|
8/19 at 100.00
|
AA+
|
$
|
2,796,450
|
||
Virgin Islands – 0.3% (0.2% of Total Investments)
|
||||||||
1,480
|
Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project, Series 2009A, 6.750%, 10/01/37
|
10/19 at 100.00
|
BBB
|
1,534,064
|
||||
Virginia – 0.3% (0.2% of Total Investments)
|
||||||||
2,855
|
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds, Series 2007B2, 0.000%, 6/01/46
|
6/17 at 100.00
|
Baa3
|
1,665,379
|
||||
Washington – 6.9% (4.4% of Total Investments)
|
||||||||
1,260
|
Central Puget Sound Regional Transit Authority, Washington, Sales Tax and Motor Vehicle Excise Tax Bonds, Series 1999, 4.750%, 2/01/28 – FGIC Insured
|
8/11 at 100.00
|
AAA
|
1,260,302
|
||||
8,810
|
Chelan County Public Utility District 1, Washington, Hydro Consolidated System Revenue Bonds, Series 2001A, 5.600%, 1/01/36 – NPFG Insured (Alternative Minimum Tax) (UB)
|
7/11 at 101.00
|
AA
|
8,676,088
|
||||
5,665
|
Chelan County Public Utility District 1, Washington, Hydro Consolidated System Revenue Bonds, Series 2002B, 5.250%, 7/01/37 – AMBAC Insured (Alternative Minimum Tax)
|
7/12 at 100.00
|
AA
|
5,287,258
|
||||
10,730
|
Chelan County Public Utility District 1, Washington, Hydro Consolidated System Revenue Refunding Bonds, Series 2001C, 5.650%, 7/01/32 – NPFG Insured (Alternative Minimum Tax) (UB)
|
7/11 at 101.00
|
AA
|
10,754,894
|
||||
2,485
|
Grant County Public Utility District 2, Washington, Revenue Bonds, Wanapum Hydroelectric Development, Series 2006B, 5.000%, 1/01/32 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,480,055
|
||||
5,000
|
Port of Seattle, Washington, Special Facility Revenue Bonds, Terminal 18, Series 1999B, 6.000%, 9/01/20 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
5,004,400
|
||||
2,000
|
Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 6.000%, 1/01/33
|
7/19 at 100.00
|
A
|
2,007,480
|
||||
2,315
|
Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2002, 6.625%, 6/01/32
|
6/13 at 100.00
|
BBB
|
2,300,531
|
||||
1,595
|
Washington State, General Obligation Bonds, Series 2002A-R-03, 5.000%, 1/01/17 – NPFG Insured
|
1/12 at 100.00
|
AA+
|
1,637,395
|
||||
1,270
|
Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2003F, 0.000%, 12/01/24 – NPFG Insured
|
No Opt. Call
|
AA+
|
686,549
|
||||
41,130
|
Total Washington
|
40,094,952
|
||||||
West Virginia – 0.9% (0.6% of Total Investments)
|
||||||||
5,000
|
Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 5.500%, 10/01/22 (Mandatory put 10/01/11)
|
10/11 at 100.00
|
BBB (4)
|
5,020,000
|
||||
Wisconsin – 2.4% (1.5% of Total Investments)
|
||||||||
535
|
Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed Bonds, Series 2002, 5.750%, 6/01/12 (ETM)
|
No Opt. Call
|
AAA
|
565,468
|
||||
4,005
|
Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed Bonds, Series 2002, 6.125%, 6/01/27 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
4,157,911
|
||||
565
|
Green Bay, Wisconsin, Water System Revenue Bonds, Series 2004, 5.000%, 11/01/29 – AGM Insured
|
11/14 at 100.00
|
Aa2
|
572,695
|
||||
5,000
|
Madison, Wisconsin, Industrial Development Revenue Refunding Bonds, Madison Gas and Electric Company Projects, Series 2002A, 5.875%, 10/01/34 (Alternative Minimum Tax)
|
4/12 at 100.00
|
AA–
|
5,005,950
|
40
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Wisconsin (continued)
|
||||||||
$
|
3,000
|
Southeast Wisconsin Professional Baseball Park District, Sales Tax Revenue Refunding Bonds, Series 1998A, 5.500%, 12/15/19 – NPFG Insured
|
No Opt. Call
|
AA–
|
$
|
3,573,840
|
||
13,105
|
Total Wisconsin
|
13,875,864
|
||||||
$
|
1,138,768
|
Total Investments (cost $949,386,064) – 156.8%
|
912,199,838
|
|||||
Floating Rate Obligations – (10.3)%
|
(59,788,333
|
)
|
||||||
Variable Rate Demand Preferred Shares, at Liquidation Value – (51.0)% (7)
|
(296,800,000
|
)
|
||||||
Other Assets Less Liabilities – 4.5%
|
26,276,526
|
|||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
581,888,031
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Such investments are normally considered to be equivalent to AAA rated securities.
|
|
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
|
(6)
|
For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
|
|
(7)
|
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 32.5%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
41
|
Nuveen Municipal Market Opportunity Fund, Inc.
|
||
NMO
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Alabama – 0.6% (0.4% of Total Investments)
|
||||||||
Henry County Water Authority, Alabama, Water Revenue Bonds, Series 2006:
|
||||||||
$
|
1,935
|
5.000%, 1/01/36 – RAAI Insured
|
1/16 at 100.00
|
N/R
|
$
|
1,613,538
|
||
2,485
|
5.000%, 1/01/41 – RAAI Insured
|
1/16 at 100.00
|
N/R
|
2,005,518
|
||||
4,420
|
Total Alabama
|
3,619,056
|
||||||
Alaska – 3.0% (1.8% of Total Investments)
|
||||||||
Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A:
|
||||||||
1,125
|
5.250%, 12/01/34 – FGIC Insured (UB)
|
12/14 at 100.00
|
AA+
|
1,136,655
|
||||
1,275
|
5.250%, 12/01/41 – FGIC Insured (UB)
|
12/14 at 100.00
|
AA+
|
1,282,013
|
||||
7,000
|
Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005B-2, 5.250%, 12/01/30 – NPFG Insured
|
6/15 at 100.00
|
AA+
|
7,045,640
|
||||
13,025
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46
|
6/14 at 100.00
|
Baa3
|
7,754,563
|
||||
22,425
|
Total Alaska
|
17,218,871
|
||||||
California – 23.7% (14.5% of Total Investments)
|
||||||||
12,500
|
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35 – AGM Insured
|
No Opt. Call
|
AA+
|
1,927,750
|
||||
1,350
|
Antelope Valley Union High School District, Los Angeles County, California, General Obligation Bonds, Series 2004B, 0.000%, 8/01/29 – NPFG Insured
|
No Opt. Call
|
Aa2
|
411,858
|
||||
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2009F-1:
|
||||||||
2,500
|
5.125%, 4/01/39
|
4/19 at 100.00
|
AA
|
2,470,975
|
||||
2,500
|
5.625%, 4/01/44
|
4/19 at 100.00
|
AA
|
2,585,375
|
||||
8,000
|
Beverly Hills Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2009, 0.000%, 8/01/33
|
No Opt. Call
|
Aa1
|
2,007,360
|
||||
7,800
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36
|
12/18 at 100.00
|
Baa3
|
5,585,502
|
||||
5,000
|
California Department of Water Resources Central Valley Project Water System Revenue Bonds, Series 2009-AF, 5.000%, 12/01/29
|
No Opt. Call
|
AAA
|
5,269,100
|
||||
2,730
|
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, Series 2003Y, 5.000%, 12/01/25 – FGIC Insured
|
6/13 at 100.00
|
AAA
|
2,855,607
|
||||
1,350
|
California Educational Facilities Authority, Revenue Refunding Bonds, Loyola Marymount University, Series 2001A, 0.000%, 10/01/39 – NPFG Insured
|
No Opt. Call
|
A2
|
176,405
|
||||
4,295
|
California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist Health System/West, Series 2003A, 5.000%, 3/01/33
|
3/13 at 100.00
|
A
|
3,838,012
|
||||
9,000
|
California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System, Series 2006, 5.250%, 3/01/45
|
3/16 at 100.00
|
A+
|
7,749,810
|
||||
California State, General Obligation Bonds, Various Purpose Series 2010:
|
||||||||
7,000
|
5.250%, 3/01/30
|
3/20 at 100.00
|
A1
|
7,090,860
|
||||
4,250
|
5.250%, 11/01/40
|
11/20 at 100.00
|
A1
|
4,116,848
|
||||
25,000
|
California State, Various Purpose General Obligation Bonds, Series 2005, 4.750%, 3/01/35 – NPFG Insured (UB)
|
3/16 at 100.00
|
A1
|
22,539,750
|
||||
1,550
|
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 – FGIC Insured
|
7/18 at 100.00
|
AA–
|
1,453,079
|
||||
10,445
|
Castaic Lake Water Agency, California, Certificates of Participation, Water System Improvement Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
|
No Opt. Call
|
AA
|
3,243,381
|
||||
8,365
|
Cupertino Union School District, Santa Clara County, California, General Obligation Bonds, Series 2003B, 0.000%, 8/01/26 – FGIC Insured
|
8/13 at 52.66
|
Aa1
|
3,285,856
|
||||
5,000
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2003B, 5.000%, 6/01/38 (Pre-refunded 6/01/13) – AMBAC Insured
|
6/13 at 100.00
|
AAA
|
5,435,000
|
42
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
California (continued)
|
||||||||
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A:
|
||||||||
$
|
3,500
|
0.000%, 6/01/26 – AGM Insured
|
No Opt. Call
|
AA+
|
$
|
1,388,520
|
||
3,000
|
5.000%, 6/01/45
|
6/15 at 100.00
|
A2
|
2,466,240
|
||||
1,000
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
610,150
|
||||
1,500
|
Lincoln Unified School District, Placer County, California, Community Facilities District 1, Special Tax Bonds, Series 2005, 0.000%, 9/01/26 – AMBAC Insured
|
No Opt. Call
|
N/R
|
470,730
|
||||
490
|
Los Angeles Department of Water and Power, California, Electric Plant Revenue Bonds, Second Series 1993, 4.750%, 10/15/20 (ETM)
|
7/11 at 100.00
|
AA– (4)
|
491,401
|
||||
995
|
Los Angeles Department of Water and Power, California, Electric Plant Revenue Bonds, Series 1994, 5.375%, 2/15/34 (ETM)
|
7/11 at 100.00
|
AA– (4)
|
998,532
|
||||
2,500
|
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2005A-2, 5.000%, 7/01/22 – AGM Insured
|
No Opt. Call
|
AA+
|
2,665,275
|
||||
5,000
|
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2003A, 5.125%, 7/01/40 – FGIC Insured
|
7/12 at 100.00
|
AA
|
5,006,450
|
||||
2,200
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009B, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
2,269,784
|
||||
14,000
|
New Haven Unified School District, California, General Obligation Bonds, Refunding Series 2009, 0.000%, 8/01/34 – AGC Insured
|
No Opt. Call
|
AA+
|
2,910,180
|
||||
1,000
|
Pajaro Valley Unified School District, Santa Cruz County, California, General Obligation Bonds, Series 2005B, 0.000%, 8/01/29 – AGM Insured
|
No Opt. Call
|
AA+
|
297,840
|
||||
5,000
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/30
|
11/20 at 100.00
|
Baa3
|
4,571,350
|
||||
4,795
|
Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A, 5.000%, 8/01/32 – NPFG Insured
|
No Opt. Call
|
A+
|
4,509,410
|
||||
8,040
|
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
|
No Opt. Call
|
A+
|
1,490,294
|
||||
3,205
|
San Diego Community College District, California, General Obligation Bonds, Series 2005, 5.000%, 5/01/25 – AGM Insured
|
5/15 at 100.00
|
AA+
|
3,336,501
|
||||
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A:
|
||||||||
5,000
|
5.650%, 1/15/17 – NPFG Insured
|
1/14 at 102.00
|
Baa1
|
4,591,200
|
||||
26,000
|
0.000%, 1/15/35 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,665,780
|
||||
5,000
|
San Jose-Evergreen Community College District, Santa Clara County, California, General Obligation Bonds, Series 2005A, 0.000%, 9/01/28 – NPFG Insured
|
9/15 at 50.47
|
Aa1
|
1,597,500
|
||||
7,345
|
Sanger Unified School District, Fresno County, California, General Obligation Bonds, Series 2006A, 5.000%, 8/01/27 – AGM Insured
|
8/16 at 102.00
|
AA+
|
7,373,278
|
||||
4,825
|
Santa Monica Community College District, Los Angeles County, California, General Obligation Bonds, Series 2005C, 0.000%, 8/01/25 – NPFG Insured
|
8/15 at 61.27
|
Aa1
|
2,042,519
|
||||
2,550
|
Vista Unified School District, San Diego County, California, General Obligation Bonds, Series 2004B, 5.000%, 8/01/28 – FGIC Insured
|
8/13 at 100.00
|
Aa2
|
2,553,035
|
||||
225,580
|
Total California
|
136,348,497
|
||||||
Colorado – 6.7% (4.1% of Total Investments)
|
||||||||
1,085
|
Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 – SYNCORA GTY Insured
|
10/16 at 100.00
|
BBB
|
892,847
|
||||
6,385
|
Broomfield, Colorado, Sales and Use Tax Revenue Refunding and Improvement Bonds, Series 2002A, 5.500%, 12/01/22 – AMBAC Insured
|
12/12 at 100.00
|
Aa3
|
6,680,115
|
||||
7,200
|
Colorado Health Facilities Authority, Health Facilities Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
No Opt. Call
|
AA
|
6,615,144
|
||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
|
||||||||
6,200
|
0.000%, 9/01/22 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,896,082
|
||||
9,650
|
0.000%, 9/01/30 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,176,847
|
||||
15,960
|
0.000%, 9/01/33 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,815,025
|
Nuveen Investments
|
43
|
Nuveen Municipal Market Opportunity Fund, Inc. (continued)
|
||
NMO
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Colorado (continued)
|
||||||||
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B:
|
||||||||
$
|
3,800
|
0.000%, 9/01/27 – NPFG Insured
|
9/20 at 67.94
|
Baa1
|
$
|
1,081,670
|
||
13,300
|
0.000%, 9/01/31 – NPFG Insured
|
9/20 at 53.77
|
Baa1
|
2,702,826
|
||||
6,250
|
0.000%, 9/01/32 – NPFG Insured
|
9/20 at 50.83
|
Baa1
|
1,169,625
|
||||
10,000
|
0.000%, 3/01/36 – NPFG Insured
|
9/20 at 41.72
|
Baa1
|
1,389,100
|
||||
10,000
|
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.500%, 1/15/30
|
7/20 at 100.00
|
Baa3
|
10,109,099
|
||||
89,830
|
Total Colorado
|
38,528,380
|
||||||
District of Columbia – 1.5% (0.9% of Total Investments)
|
||||||||
10,000
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 4.500%, 10/01/30 – AMBAC Insured
|
10/16 at 100.00
|
A1
|
8,861,100
|
||||
Florida – 3.6% (2.2% of Total Investments)
|
||||||||
5,235
|
Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2008, Trust 1191, 8.683%, 1/01/27 (Alternative Minimum Tax) (IF)
|
1/17 at 100.00
|
AA+
|
4,336,360
|
||||
3,750
|
Florida State Board of Education, Lottery Revenue Bonds, Series 2010C, 2.000%, 7/01/11
|
No Opt. Call
|
AAA
|
3,760,875
|
||||
2,500
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/41
|
10/20 at 100.00
|
A2
|
2,382,075
|
||||
3,000
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/26
|
10/20 at 100.00
|
A2
|
3,007,710
|
||||
4,000
|
Orlando, Florida, Tourist Development Tax Revenue Bonds, Senior Lien 6th Cent Contract Payments, Series 2008A, 5.250%, 11/01/23 – AGC Insured
|
11/17 at 100.00
|
AA+
|
3,974,640
|
||||
3,500
|
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007, 5.000%, 8/15/37
|
8/17 at 100.00
|
AA
|
3,172,364
|
||||
21,985
|
Total Florida
|
20,634,024
|
||||||
Georgia – 1.8% (1.1% of Total Investments)
|
||||||||
10,000
|
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B, 5.250%, 2/15/45
|
2/41 at 100.00
|
A+
|
9,243,600
|
||||
1,245
|
Royston Hospital Authority, Georgia, Revenue Anticipation Certificates, Ty Cobb Healthcare System Inc., Series 1999, 6.500%, 7/01/27
|
7/11 at 100.00
|
N/R
|
1,106,930
|
||||
11,245
|
Total Georgia
|
10,350,530
|
||||||
Illinois – 16.4% (10.0% of Total Investments)
|
||||||||
4,595
|
Bolingbrook, Illinois, General Obligation Refunding Bonds, Series 2002B, 0.000%, 1/01/32 – FGIC Insured
|
No Opt. Call
|
Aa3
|
1,099,308
|
||||
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A:
|
||||||||
4,600
|
0.000%, 12/01/20 – FGIC Insured
|
No Opt. Call
|
Aa2
|
2,793,948
|
||||
1,000
|
5.500%, 12/01/26 – FGIC Insured
|
No Opt. Call
|
Aa2
|
1,010,820
|
||||
4,000
|
Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2003A, 5.000%,
1/01/33 – AMBAC Insured |
7/13 at 100.00
|
AA+
|
3,924,480
|
||||
5,000
|
Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2008A, 5.000%,
1/01/38 – AGC Insured |
1/18 at 100.00
|
AA+
|
4,783,300
|
||||
1,450
|
Chicago, Illinois, Motor Fuel Tax Revenue Refunding Bonds, Series 1993, 5.375%, 1/01/14 – AMBAC Insured
|
No Opt. Call
|
AA+
|
1,530,852
|
||||
5,250
|
Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998B, 5.000%,
1/01/28 – NPFG Insured |
7/11 at 100.00
|
A
|
5,191,148
|
||||
2,000
|
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2003C-2, 5.250%, 1/01/30 – AGM Insured (Alternative Minimum Tax)
|
1/14 at 100.00
|
AA+
|
1,943,080
|
||||
7,100
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
7,120,945
|
||||
1,780
|
Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Refunding Series 2003A, 5.000%, 7/01/33
|
7/13 at 100.00
|
Aa1
|
1,786,230
|
||||
10,000
|
Illinois Finance Authority, Illinois, Northwestern University, Revenue Bonds, Series 2006, 5.000%, 12/01/42 (UB)
|
12/15 at 100.00
|
AAA
|
9,960,200
|
||||
3,000
|
Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2009, 5.500%, 4/01/34
|
No Opt. Call
|
A+
|
2,828,550
|
||||
5,450
|
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A, 6.000%, 5/15/39
|
5/20 at 100.00
|
A
|
5,298,654
|
44
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Illinois (continued)
|
||||||||
$
|
5,550
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 5.500%, 8/15/30
|
8/18 at 100.00
|
BBB
|
$
|
4,759,125
|
||
2,160
|
Illinois Health Facilities Authority, Revenue Bonds, Sherman Health Systems, Series 1997, 5.250%, 8/01/17 – AMBAC Insured
|
7/11 at 100.00
|
BBB
|
2,160,259
|
||||
Lake and McHenry Counties Community Unit School District 118, Wauconda, Illinois, General Obligation Bonds, Series 2005B:
|
||||||||
10,230
|
0.000%, 1/01/22 – AGM Insured
|
1/15 at 70.63
|
Aa3
|
5,763,071
|
||||
6,780
|
0.000%, 1/01/24 – AGM Insured
|
1/15 at 63.44
|
Aa3
|
3,305,521
|
||||
1,975
|
Lake County Community High School District 127, Grayslake, Illinois, General Obligation Bonds, Series 2002A, 9.000%, 2/01/13 – FGIC Insured
|
No Opt. Call
|
AAA
|
2,217,866
|
||||
2,330
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2, 5.000%, 6/15/50
|
No Opt. Call
|
AAA
|
1,996,880
|
||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:
|
||||||||
6,500
|
0.000%, 6/15/25 – NPFG Insured
|
6/22 at 101.00
|
AAA
|
4,930,900
|
||||
3,270
|
5.000%, 12/15/28 – NPFG Insured
|
6/12 at 101.00
|
AAA
|
3,272,093
|
||||
3,700
|
0.000%, 6/15/30 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,125,429
|
||||
3,280
|
0.000%, 6/15/37 – NPFG Insured
|
No Opt. Call
|
AAA
|
577,411
|
||||
11,715
|
0.000%, 12/15/38 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,861,631
|
||||
9,170
|
0.000%, 6/15/39 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,401,818
|
||||
6,500
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 2002B, 5.750%, 6/15/23 – NPFG Insured
|
6/12 at 101.00
|
AAA
|
6,797,505
|
||||
2,080
|
Midlothian, Illinois, General Obligation Bonds, Series 2010A, 5.250%, 2/01/34
|
2/20 at 100.00
|
AA+
|
2,025,941
|
||||
2,685
|
Sterling, Whiteside County, Illinois, General Obligation Bonds, Recovery Zone Facility Series 2010A, 5.250%, 5/01/31 – AGM Insured
|
5/20 at 100.00
|
AA+
|
2,690,719
|
||||
133,150
|
Total Illinois
|
94,157,684
|
||||||
Indiana – 2.8% (1.7% of Total Investments)
|
||||||||
4,695
|
Indiana Educational Facilities Authority, Revenue Bonds, Butler University, Series 2001, 5.500%, 2/01/26 – NPFG Insured
|
8/11 at 100.00
|
Baa1
|
4,704,295
|
||||
4,030
|
Indiana Finance Authority Health System Revenue Bonds, Sisters of St. Francis Health Services, Inc. Obligated Group, Series 2009, 5.250%, 11/01/39
|
11/19 at 100.00
|
Aa3
|
3,738,550
|
||||
6,000
|
Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2009A, 5.250%, 12/01/38
|
12/19 at 100.00
|
AA
|
5,579,340
|
||||
2,000
|
Petersburg, Indiana, Pollution Control Revenue Refunding Bonds, Indianapolis Power and Light Company, Series 1991, 5.750%, 8/01/21
|
8/11 at 102.00
|
A3
|
2,002,040
|
||||
16,725
|
Total Indiana
|
16,024,225
|
||||||
Iowa – 2.0% (1.2% of Total Investments)
|
||||||||
970
|
Iowa Finance Authority, Health Facility Revenue Bonds, Care Initiatives Project, Series 2006A, 5.000%, 7/01/19
|
7/16 at 100.00
|
BB+
|
846,868
|
||||
5,000
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
BBB
|
3,992,000
|
||||
6,685
|
Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2001B, 5.600%, 6/01/35 (Pre-refunded 6/01/11)
|
6/11 at 101.00
|
AAA
|
6,783,335
|
||||
12,655
|
Total Iowa
|
11,622,203
|
||||||
Kansas – 1.2% (0.7% of Total Investments)
|
||||||||
2,500
|
Kansas Development Finance Authority, Water Pollution Control Revolving Fund Leveraged Bonds, Series 2002-II, 5.500%, 11/01/21 (Pre-refunded 11/01/12)
|
11/12 at 100.00
|
AAA
|
2,687,725
|
||||
3,715
|
Overland Park Development Corporation, Kansas, First Tier Revenue Bonds, Overland Park Convention Center, Series 2007A, 5.125%, 1/01/22 – AMBAC Insured
|
1/17 at 100.00
|
Baa3
|
3,416,350
|
||||
600
|
Salina, Kansas, Hospital Revenue Bonds, Salina Regional Medical Center, Series 2006, 4.625%, 10/01/31
|
4/16 at 100.00
|
A1
|
549,888
|
||||
6,815
|
Total Kansas
|
6,653,963
|
Nuveen Investments
|
45
|
Nuveen Municipal Market Opportunity Fund, Inc. (continued)
|
||
NMO
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Kentucky – 0.2% (0.1% of Total Investments)
|
||||||||
$
|
1,000
|
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/38 – AGC Insured
|
6/18 at 100.00
|
AA+
|
$
|
1,013,460
|
||
Louisiana – 3.2% (2.0% of Total Investments)
|
||||||||
7,415
|
Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Baton Rouge Community College Facilities Corporation, Series 2002, 5.000%, 12/01/32 – NPFG Insured
|
12/12 at 100.00
|
Baa1
|
6,337,601
|
||||
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004:
|
||||||||
1,765
|
5.250%, 7/01/24 – NPFG Insured
|
7/14 at 100.00
|
Baa1
|
1,790,328
|
||||
3,350
|
5.250%, 7/01/33 – NPFG Insured
|
7/14 at 100.00
|
Baa1
|
3,302,263
|
||||
7,850
|
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B, 5.875%, 5/15/39
|
5/11 at 101.00
|
A–
|
7,164,146
|
||||
20,380
|
Total Louisiana
|
18,594,338
|
||||||
Maryland – 1.2% (0.7% of Total Investments)
|
||||||||
4,410
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2007D, 4.900%, 9/01/42 (Alternative Minimum Tax)
|
3/17 at 100.00
|
Aa2
|
3,981,260
|
||||
2,500
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2002, 5.500%, 2/01/16
|
No Opt. Call
|
AAA
|
2,951,975
|
||||
6,910
|
Total Maryland
|
6,933,235
|
||||||
Michigan – 3.0% (1.8% of Total Investments)
|
||||||||
5,000
|
Detroit Water Supply System, Michigan, Water Supply System Revenue Bonds, Series 2006D, 4.625%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
AA+
|
4,226,550
|
||||
5,000
|
Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009, 5.750%, 11/15/39
|
11/19 at 100.00
|
A1
|
4,687,750
|
||||
3,050
|
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42
|
6/18 at 100.00
|
Baa3
|
2,689,551
|
||||
1,150
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39
|
9/18 at 100.00
|
A1
|
1,307,493
|
||||
3,795
|
Utica Community Schools, Macomb County, Michigan, General Obligation Bonds, Series 2004, 5.000%, 5/01/19
|
11/13 at 100.00
|
AA
|
4,077,272
|
||||
17,995
|
Total Michigan
|
16,988,616
|
||||||
Minnesota – 1.0% (0.6% of Total Investments)
|
||||||||
930
|
Minnesota Agricultural and Economic Development Board, Healthcare System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2000A, 6.375%, 11/15/29
|
11/11 at 100.00
|
A
|
932,939
|
||||
1,460
|
Minnesota Housing Finance Agency, Single Family Remarketed Mortgage Bonds, Series 1998H-2, 6.050%, 7/01/31 (Alternative Minimum Tax)
|
7/11 at 101.00
|
AA+
|
1,504,676
|
||||
2,685
|
St. Paul Housing and Redevelopment Authority, Minnesota, Sales Tax Revenue Refunding Bonds, Civic Center Project, Series 1996, 7.100%, 11/01/23 – AGM Insured
|
11/15 at 103.00
|
AA+
|
3,167,092
|
||||
5,075
|
Total Minnesota
|
5,604,707
|
||||||
Mississippi – 1.0% (0.6% of Total Investments)
|
||||||||
5,900
|
Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22
|
10/11 at 100.00
|
BBB
|
5,783,416
|
||||
Missouri – 0.8% (0.5% of Total Investments)
|
||||||||
Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1:
|
||||||||
8,000
|
0.000%, 4/15/27 – AMBAC Insured
|
No Opt. Call
|
AA–
|
3,147,840
|
||||
5,000
|
0.000%, 4/15/31 – AMBAC Insured
|
No Opt. Call
|
AA–
|
1,472,800
|
||||
13,000
|
Total Missouri
|
4,620,640
|
46
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Nebraska – 1.9% (1.2% of Total Investments)
|
||||||||
$
|
11,690
|
Omaha Convention Hotel Corporation, Nebraska, Convention Center Revenue Bonds, Series 2007, 5.000%, 2/01/35 – AMBAC Insured
|
2/17 at 100.00
|
Aa3
|
$
|
11,134,959
|
||
Nevada – 6.3% (3.9% of Total Investments)
|
||||||||
15,000
|
Clark County, Nevada, Airport Revenue Bonds, Subordinte Lien Series 2010B, 5.750%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
15,161,850
|
||||
11,615
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
10,824,135
|
||||
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000:
|
||||||||
6,125
|
0.000%, 1/01/17 – AMBAC Insured
|
No Opt. Call
|
N/R
|
1,087,371
|
||||
8,500
|
0.000%, 1/01/26 – AMBAC Insured
|
No Opt. Call
|
N/R
|
874,905
|
||||
7,860
|
0.000%, 1/01/27 – AMBAC Insured
|
No Opt. Call
|
N/R
|
761,948
|
||||
19,300
|
5.375%, 1/01/40 – AMBAC Insured (5)
|
7/11 at 100.00
|
N/R
|
4,840,054
|
||||
2,135
|
Reno, Nevada, Capital Improvement Revenue Bonds, Series 2005B, 0.000%, 6/01/37 – FGIC Insured
|
6/15 at 33.61
|
A
|
295,249
|
||||
2,500
|
Reno, Nevada, Health Facilities Revenue Bonds, Catholic Healthcare West, Series 2007A, Trust 2634, 18.488%, 7/01/31 – BHAC Insured (IF)
|
7/17 at 100.00
|
AA+
|
2,493,100
|
||||
73,035
|
Total Nevada
|
36,338,612
|
||||||
New Hampshire – 0.5% (0.3% of Total Investments)
|
||||||||
3,000
|
New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39
|
10/19 at 100.00
|
BBB+
|
2,958,090
|
||||
New Jersey – 4.0% (2.5% of Total Investments)
|
||||||||
18,400
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Series 2006A, 0.000%, 7/01/37
|
1/17 at 35.47
|
BBB-
|
2,403,592
|
||||
35,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/34 – AGM Insured
|
No Opt. Call
|
AA+
|
7,011,200
|
||||
5,065
|
New Jersey Turnpike Authority, Revenue Bonds, Growth and Income Securities, Series 2004B, 0.000%, 1/01/35 – AMBAC Insured
|
1/17 at 100.00
|
A+
|
3,999,071
|
||||
3,000
|
Rahway Valley Sewerage Authority, New Jersey, Sewer Revenue Bonds, Series 2005A, 0.000%, 9/01/25 – NPFG Insured
|
No Opt. Call
|
Aa2
|
1,311,810
|
||||
3,525
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2002, 6.125%, 6/01/42 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
3,746,652
|
||||
2,100
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2003, 6.375%, 6/01/32 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
2,308,257
|
||||
4,000
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 5.000%, 6/01/41
|
6/17 at 100.00
|
Baa3
|
2,496,000
|
||||
71,090
|
Total New Jersey
|
23,276,582
|
||||||
New Mexico – 1.3% (0.8% of Total Investments)
|
||||||||
5,925
|
New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare Services, Series 2001A, 5.500%, 8/01/21 (Pre-refunded 8/01/11)
|
8/11 at 101.00
|
AA– (4)
|
6,063,823
|
||||
1,275
|
University of New Mexico, Revenue Refunding Bonds, Series 1992A, 6.250%, 6/01/12
|
No Opt. Call
|
AA
|
1,312,727
|
||||
7,200
|
Total New Mexico
|
7,376,550
|
||||||
New York – 7.2% (4.4% of Total Investments)
|
||||||||
7,000
|
Brooklyn Areba Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 0.000%, 7/15/45
|
No Opt. Call
|
BBB–
|
623,560
|
||||
2,500
|
Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian Hospital Project, Series 2007, 5.250%, 8/15/26 – AGM Insured
|
8/14 at 100.00
|
AA+
|
2,588,375
|
||||
3,000
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 5.000%, 12/01/35
|
6/16 at 100.00
|
A–
|
2,925,270
|
||||
3,500
|
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochestor Project, Series 2010, 5.750%, 8/15/30
|
2/21 at 100.00
|
Aa2
|
3,885,385
|
||||
5
|
New York City, New York, General Obligation Bonds, Fiscal Series 1997H, 6.125%, 8/01/25
|
7/11 at 100.00
|
AA
|
5,018
|
||||
4,865
|
New York City, New York, General Obligation Bonds, Fiscal Series 2002A, 5.750%, 8/01/16
|
8/12 at 100.00
|
AA
|
5,130,921
|
Nuveen Investments
|
47
|
Nuveen Municipal Market Opportunity Fund, Inc. (continued)
|
||
NMO
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
New York (continued)
|
||||||||
$
|
135
|
New York City, New York, General Obligation Bonds, Fiscal Series 2002A, 5.750%, 8/01/16 (Pre-refunded 8/01/12)
|
8/12 at 100.00
|
Aa2 (4)
|
$
|
144,115
|
||
New York City, New York, General Obligation Bonds, Fiscal Series 2002G:
|
||||||||
735
|
5.000%, 8/01/17
|
8/12 at 100.00
|
AA
|
767,869
|
||||
5,410
|
5.750%, 8/01/18
|
8/12 at 100.00
|
AA
|
5,697,379
|
||||
New York City, New York, General Obligation Bonds, Fiscal Series 2002G:
|
||||||||
265
|
5.000%, 8/01/17 (Pre-refunded 8/01/12)
|
8/12 at 100.00
|
Aa2 (4)
|
280,404
|
||||
1,120
|
5.750%, 8/01/18 (Pre-refunded 8/01/12)
|
8/12 at 100.00
|
AA (4)
|
1,195,622
|
||||
8,550
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010, 5.500%, 12/01/31
|
12/20 at 100.00
|
BBB–
|
8,230,658
|
||||
10,000
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC, Sixth Series 1997, 5.750%, 12/01/22 – NPFG Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
Baa1
|
9,625,700
|
||||
47,085
|
Total New York
|
41,100,276
|
||||||
North Carolina – 6.2% (3.8% of Total Investments)
|
||||||||
1,900
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
1/15 at 100.00
|
AAA
|
2,166,608
|
||||
17,000
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series 2005A, 5.000%, 10/01/41
|
10/15 at 100.00
|
AA+
|
17,123,250
|
||||
3,000
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005, 5.250%, 1/01/20 – AMBAC Insured
|
1/16 at 100.00
|
A–
|
3,248,940
|
||||
4,000
|
North Carolina Medical Care Commission, Health System Revenue Bonds, Mission St. Joseph’s Health System, Series 2007, 4.500%, 10/01/31 (UB)
|
10/17 at 100.00
|
AA
|
3,472,840
|
||||
7,500
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%, 1/01/19 – NPFG Insured
|
1/13 at 100.00
|
A
|
7,928,025
|
||||
1,900
|
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.750%, 1/01/39 – AGC Insured
|
1/19 at 100.00
|
AA+
|
1,931,027
|
||||
35,300
|
Total North Carolina
|
35,870,690
|
||||||
North Dakota – 0.3% (0.2% of Total Investments)
|
||||||||
1,500
|
Fargo, North Dakota, Health System Revenue Bonds, Sanford Series 2011, 6.000%, 11/01/28
|
11/21 at 100.00
|
AA–
|
1,558,020
|
||||
Ohio – 8.4% (5.2% of Total Investments)
|
||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||
4,415
|
5.375%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
3,463,744
|
||||
110
|
5.125%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
84,993
|
||||
1,250
|
5.875%, 6/01/30
|
6/17 at 100.00
|
Baa3
|
902,050
|
||||
6,215
|
5.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
4,282,135
|
||||
4,300
|
6.000%, 6/01/42
|
6/17 at 100.00
|
Baa3
|
2,985,318
|
||||
4,750
|
5.875%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
3,204,778
|
||||
6,000
|
Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010, 5.250%, 11/01/29
|
11/20 at 100.00
|
BBB+
|
5,164,680
|
||||
10,000
|
Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006, 4.250%, 12/01/32 – AGM Insured (UB)
|
12/16 at 100.00
|
AA+
|
9,348,300
|
||||
5,705
|
Montgomery County, Ohio, Hospital Facilities Revenue Bonds, Kettering Medical Center, Series 1999, 6.300%, 4/01/12
|
No Opt. Call
|
A
|
5,953,681
|
||||
5,500
|
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19
|
No Opt. Call
|
BBB–
|
5,545,595
|
||||
7,500
|
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System Obligated Group, Series 2009A, 5.500%, 1/01/39
|
1/19 at 100.00
|
Aa2
|
7,478,250
|
||||
55,745
|
Total Ohio
|
48,413,524
|
48
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Oklahoma – 0.3% (0.2% of Total Investments)
|
||||||||
$
|
1,675
|
Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Series 2008B, 5.250%, 8/15/38
|
8/18 at 100.00
|
AA–
|
$
|
1,665,235
|
||
Oregon – 0.9% (0.5% of Total Investments)
|
||||||||
5,000
|
Oregon Health Sciences University, Revenue Bonds, Series 2002A, 5.250%, 7/01/22 – NPFG Insured
|
1/13 at 100.00
|
A1
|
5,085,250
|
||||
Pennsylvania – 6.8% (4.2% of Total Investments)
|
||||||||
3,000
|
Allegheny County Hospital Development Authority, Pennsylvania, University of Pittsburgh Medical Center Revenue Bonds, Series 2009A, 5.625%, 8/15/39
|
No Opt. Call
|
Aa3
|
2,964,120
|
||||
5,000
|
Delaware County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue Refunding Bonds, Series 1997A, 6.200%, 7/01/19
|
7/11 at 100.00
|
BB+
|
4,906,100
|
||||
5,975
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010A, 0.000%, 12/01/34
|
12/20 at 100.00
|
Aa3
|
4,416,302
|
||||
10,000
|
Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%, 6/01/33 – AGM Insured
|
6/26 at 100.00
|
AA+
|
7,921,900
|
||||
7,550
|
Pennsylvania, General Obligation Bonds, Second Series 2001, 5.000%, 9/15/14 (Pre-refunded 9/15/11)
|
9/11 at 101.00
|
Aa1 (4)
|
7,761,174
|
||||
11,890
|
Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010B, 5.000%, 5/15/40
|
5/20 at 100.00
|
AA
|
11,016,085
|
||||
43,415
|
Total Pennsylvania
|
38,985,681
|
||||||
Puerto Rico – 7.8% (4.8% of Total Investments)
|
||||||||
3,330
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44
|
7/18 at 100.00
|
Baa1
|
3,138,558
|
||||
8,000
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010XX, 5.750%, 7/01/36
|
7/20 at 100.00
|
A3
|
7,741,200
|
||||
4,300
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 4.500%, 12/01/23 (UB)
|
12/13 at 100.00
|
AA+
|
4,280,220
|
||||
8,200
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 4.500%, 12/01/23 (Pre-refunded 12/01/13)
|
12/13 at 100.00
|
AAA
|
8,959,894
|
||||
10,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
10,018,200
|
||||
4,310
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41
|
8/20 at 100.00
|
A+
|
3,894,128
|
||||
7,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/40 – NPFG Insured
|
No Opt. Call
|
Aa2
|
1,012,340
|
||||
6,355
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33
|
5/12 at 100.00
|
BBB
|
5,584,011
|
||||
51,495
|
Total Puerto Rico
|
44,628,551
|
||||||
Rhode Island – 0.5% (0.3% of Total Investments)
|
||||||||
3,310
|
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.250%, 6/01/42
|
6/12 at 100.00
|
BBB
|
2,863,282
|
||||
South Carolina – 5.4% (3.3% of Total Investments)
|
||||||||
24,730
|
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2002, 5.500%, 12/01/22 (Pre-refunded 12/01/12)
|
12/12 at 101.00
|
Aaa
|
26,947,045
|
||||
3,560
|
South Carolina Public Service Authority, Revenue Refunding Bonds, Santee Cooper Electric System, Series 2003A, 5.000%, 1/01/20 – AMBAC Insured
|
7/13 at 100.00
|
Aa2
|
3,798,449
|
||||
28,290
|
Total South Carolina
|
30,745,494
|
||||||
Tennessee – 0.8% (0.5% of Total Investments)
|
||||||||
5,000
|
Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds, East Tennessee Children’s Hospital, Series 2003A, 5.000%, 7/01/23 – RAAI Insured
|
7/13 at 100.00
|
BBB+
|
4,743,750
|
Nuveen Investments
|
49
|
Nuveen Municipal Market Opportunity Fund, Inc. (continued)
|
||
NMO
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Texas – 13.9% (8.6% of Total Investments)
|
||||||||
$
|
2,500
|
Alliance Airport Authority, Texas, Special Facilities Revenue Bonds, American Airlines Inc., Series 2007, 5.250%, 12/01/29 (Alternative Minimum Tax)
|
12/12 at 100.00
|
CCC+
|
$
|
1,642,725
|
||
11,255
|
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 2001C, 5.750%, 5/01/36 (Mandatory put 11/01/11) (Alternative Minimum Tax)
|
No Opt. Call
|
CC
|
11,025,285
|
||||
1,000
|
Cedar Hill Independent School District, Dallas County, Texas, General Obligation Bonds, Series 2002, 0.000%, 8/15/32 – FGIC Insured
|
No Opt. Call
|
AA–
|
289,310
|
||||
15,000
|
Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds, Series 2005, 5.000%, 1/01/45 – FGIC Insured
|
1/15 at 100.00
|
BBB
|
11,688,000
|
||||
2,500
|
Comal Independent School District, Comal, Bexar, Guadalupe, Hays, and Kendall Counties, Texas, General Obligation Bonds, Series 2005A, 0.000%, 2/01/23
|
No Opt. Call
|
Aaa
|
1,548,775
|
||||
6,000
|
Dallas-Ft. Worth International Airport Facility Improvement Corporation, Texas, Revenue Bonds, American Airlines Inc., Series 1999, 6.375%, 5/01/35 (Alternative Minimum Tax)
|
11/11 at 100.00
|
CCC+
|
4,388,220
|
||||
Ennis Independent School District, Ellis County, Texas, General Obligation Bonds, Series 2006:
|
||||||||
3,950
|
0.000%, 8/15/30
|
8/16 at 49.21
|
Aaa
|
1,431,875
|
||||
4,000
|
0.000%, 8/15/31
|
8/16 at 46.64
|
Aaa
|
1,349,560
|
||||
1,000
|
Harris County, Texas, Toll Toad Unlimited Tax and Subordinate Lien Revenue Forward Refunding Bonds, Series 2001, 6.000%, 8/01/11 – FGIC Insured
|
No Opt. Call
|
AAA
|
1,014,560
|
||||
1,715
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B, 0.000%, 9/01/32 – AMBAC Insured
|
No Opt. Call
|
A2
|
395,050
|
||||
1,250
|
Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2001A, 5.000%, 12/01/20 – AGM Insured
|
12/11 at 100.00
|
AA+
|
1,279,500
|
||||
2,400
|
Houston, Texas, Senior Lien Airport System Revenue Bonds, Refunding Series 2009A, 5.500%, 7/01/39
|
7/18 at 100.00
|
AA–
|
2,435,280
|
||||
9,350
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2005, 0.000%, 8/15/32 – FGIC Insured
|
8/15 at 39.49
|
AA–
|
2,924,026
|
||||
6,000
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2006, 0.000%, 8/15/33
|
8/14 at 35.27
|
AAA
|
1,768,620
|
||||
11,850
|
Lower Colorado River Authority, Texas, Contract Revenue Refunding Bonds, Transmission Services Corporation, Series 2003B, 5.000%, 5/15/31 – AGM Insured
|
No Opt. Call
|
AA+
|
11,861,021
|
||||
4,000
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation Series 2008I, 0.000%, 1/01/43
|
1/25 at 100.00
|
A2
|
3,187,240
|
||||
3,500
|
San Antonio, Texas, Electric and Gas Revenue Bonds, Series 2008A, 5.500%, 2/01/12
|
No Opt. Call
|
Aa1
|
3,636,570
|
||||
3,295
|
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds, Series 2007, Residuals 1762, 16.974%, 2/15/36 (IF)
|
2/17 at 100.00
|
AA–
|
2,158,489
|
||||
2,890
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White HealthCare Project, Series 2010, 5.500%, 8/15/45
|
8/20 at 100.00
|
A1
|
2,753,043
|
||||
5,165
|
Texas State, General Obligation Bonds, Water Financial Assistance, Series 2010B, 5.000%, 8/01/11
|
No Opt. Call
|
Aaa
|
5,227,755
|
||||
5,000
|
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds, Series 2005, 0.000%, 8/15/34
|
8/15 at 36.81
|
AAA
|
1,398,750
|
||||
3,970
|
Wichita Falls, Wichita County, Texas, Priority Lien Water and Sewerage System Revenue Bonds, Series 2001, 5.000%, 8/01/21 (Pre-refunded 8/01/11) – AMBAC Insured
|
8/11 at 100.00
|
AA– (4)
|
4,018,275
|
||||
Wylie Independent School District, Collin County, Texas, General Obligation Bonds, Series 2005:
|
||||||||
3,000
|
0.000%, 8/15/23
|
8/15 at 67.10
|
AAA
|
1,671,450
|
||||
2,000
|
0.000%, 8/15/24
|
8/15 at 63.56
|
AAA
|
1,049,600
|
||||
112,590
|
Total Texas
|
80,142,979
|
||||||
Utah – 0.5% (0.3% of Total Investments)
|
||||||||
3,000
|
Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2009, 5.000%, 8/15/41
|
8/19 at 100.00
|
AA+
|
2,796,450
|
50
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Virginia – 2.7% (1.7% of Total Investments)
|
||||||||
$
|
21,500
|
Metropolitan Washington DC Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Series 2009C, 0.000%, 10/01/41 – AGC Insured
|
10/26 at 100.00
|
AA+
|
$
|
15,625,770
|
||
Washington – 10.3% (6.3% of Total Investments)
|
||||||||
2,755
|
Cowlitz County, Washington, Special Sewerage Revenue Refunding Bonds, CSOB Wastewater Treatment Facilities, Series 2002, 5.500%, 11/01/16 – FGIC Insured
|
No Opt. Call
|
A1
|
3,038,600
|
||||
2,700
|
Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 1, Refunding Series 2008D, 5.000%, 7/01/11
|
No Opt. Call
|
Aaa
|
2,722,086
|
||||
10,000
|
Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 3, Series 2001A, 5.500%, 7/01/17 (Pre-refunded 7/01/11) – AGM Insured
|
7/11 at 101.00
|
Aaa
|
10,190,500
|
||||
820
|
King County, Washington, Sewer Revenue Bonds, Series 2001, 5.000%, 1/01/23 (Pre-refunded 1/01/12) – FGIC Insured
|
1/12 at 100.00
|
Aa2 (4)
|
845,773
|
||||
1,680
|
King County, Washington, Sewer Revenue Bonds, Series 2001, 5.000%,
1/01/23 – FGIC Insured |
1/12 at 100.00
|
AA+
|
1,714,003
|
||||
2,150
|
Seattle, Washington, General Obligation Refunding and Improvement Bonds, Series 2002, 4.500%, 12/01/20
|
12/12 at 100.00
|
AAA
|
2,202,546
|
||||
3,000
|
Spokane County School District 81, Spokane, Washington, General Obligation Bonds, Series 2005, 5.000%, 6/01/24 – NPFG Insured
|
6/15 at 100.00
|
Aa1
|
3,160,950
|
||||
3,520
|
Washington State Health Care Facilities Authority, Revenue Bonds, Children’s Hospital and
|
10/11 at 100.00
|
Aa3 (4)
|
3,588,288
|
||||
Regional Medical Center, Series 2001, 5.000%, 10/01/21 (Pre-refunded
10/01/11) – AMBAC Insured |
||||||||
8,000
|
Washington State Health Care Facilities Authority, Revenue Bonds, MultiCare Health System, Series 2008A, 5.250%, 8/15/34 – AGM Insured
|
5/18 at 100.00
|
AA+
|
7,867,360
|
||||
10,480
|
Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2002, 6.500%, 6/01/26
|
6/13 at 100.00
|
BBB
|
10,565,831
|
||||
9,000
|
Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002C, 5.000%, 1/01/21 (Pre-refunded 1/01/12) – AGM Insured
|
1/12 at 100.00
|
AA+ (4)
|
9,284,760
|
||||
9,000
|
Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2003C, 0.000%, 6/01/28 – FGIC Insured
|
No Opt. Call
|
AA+
|
3,831,570
|
||||
63,105
|
Total Washington
|
59,012,267
|
||||||
Wisconsin – 2.7% (1.7% of Total Investments)
|
||||||||
2,280
|
Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed Bonds, Series 2002, 6.125%, 6/01/27 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
2,367,050
|
||||
1,755
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Divine Savior Healthcare, Series 2006, 4.750%, 5/01/25
|
5/16 at 100.00
|
BBB
|
1,518,040
|
||||
1,250
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, United Lutheran Program for the Aging Inc., Series 1998, 5.700%, 3/01/28
|
9/11 at 100.00
|
N/R
|
1,064,250
|
||||
9,920
|
Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 5.750%, 5/01/33
|
5/19 at 100.00
|
AA–
|
10,577,597
|
||||
15,205
|
Total Wisconsin
|
15,526,937
|
Nuveen Investments
|
51
|
Nuveen Municipal Market Opportunity Fund, Inc. (continued)
|
||
NMO
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Wyoming – 0.7% (0.4% of Total Investments)
|
||||||||
$
|
4,080
|
Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative – Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39
|
7/19 at 100.00
|
A1
|
$
|
4,181,470
|
||
$
|
1,288,400
|
Total Investments (cost $1,005,041,850) – 163.1%
|
937,587,364
|
|||||
Floating Rate Obligations – (7.6)%
|
(43,530,000
|
)
|
||||||
Variable Rate Demand Preferred Shares, at Liquidation Value – (61.0)% (6)
|
(350,900,000
|
)
|
||||||
Other Assets Less Liabilities – 5.5%
|
31,816,722
|
|||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
574,974,086
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Such investments are normally considered to be equivalent to AAA rated securities.
|
|
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
|
(6)
|
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 37.4%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
52
|
Nuveen Investments
|
Nuveen Dividend Advantage Municipal Fund
|
||
NAD
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Municipal Bonds – 156.8% (99.9% of Total Investments)
|
||||||||
Alabama – 0.3% (0.2% of Total Investments)
|
||||||||
$
|
1,600
|
Alabama 21st Century Authority, Tobacco Settlement Revenue Bonds, Series 2000, 5.750%, 12/01/20
|
6/11 at 101.00
|
A–
|
$
|
1,605,759
|
||
Alaska – 0.2% (0.1% of Total Investments)
|
||||||||
750
|
Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A, 5.250%, 12/01/34 – FGIC Insured (UB)
|
12/14 at 100.00
|
AA+
|
757,769
|
||||
Arizona – 2.8% (1.8% of Total Investments)
|
||||||||
Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 2008A:
|
||||||||
2,350
|
5.000%, 7/01/33
|
7/18 at 100.00
|
AA–
|
2,334,278
|
||||
8,200
|
5.000%, 7/01/38
|
7/18 at 100.00
|
AA–
|
7,870,032
|
||||
5,000
|
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
|
No Opt. Call
|
A
|
4,160,650
|
||||
15,550
|
Total Arizona
|
14,364,960
|
||||||
California – 9.1% (5.8% of Total Investments)
|
||||||||
1,535
|
Alameda Corridor Transportation Authority, California, Senior Lien Revenue Bonds, Series 1999A, 0.000%, 10/01/37 – NPFG Insured
|
No Opt. Call
|
A
|
192,504
|
||||
6,000
|
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/28 – AGM Insured
|
No Opt. Call
|
AA+
|
1,707,780
|
||||
3,000
|
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.000%, 11/15/42
|
11/16 at 100.00
|
AA–
|
2,581,140
|
||||
5,000
|
California State, General Obligation Bonds, Series 2005, 5.000%, 3/01/31
|
3/16 at 100.00
|
A1
|
4,916,300
|
||||
4,250
|
California State, General Obligation Bonds, Various Purpose Series 2010, 5.250%, 11/01/40
|
11/20 at 100.00
|
A1
|
4,116,848
|
||||
6,750
|
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38
|
8/19 at 100.00
|
Aa2
|
7,363,913
|
||||
65
|
California, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 – AMBAC Insured
|
7/11 at 100.00
|
A1
|
65,159
|
||||
5,000
|
Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2006 Series 2007A, 5.000%, 8/01/31 – AGM Insured
|
No Opt. Call
|
AA+
|
4,927,600
|
||||
2,000
|
Dublin Unified School District, Alameda County, California, General Obligation Bonds, Series 2007C, 0.000%, 8/01/31 – NPFG Insured
|
8/17 at 49.41
|
Aa2
|
486,540
|
||||
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A:
|
||||||||
3,500
|
0.000%, 6/01/26 – AGM Insured
|
No Opt. Call
|
AA+
|
1,388,520
|
||||
9,925
|
5.000%, 6/01/45 – AGC Insured
|
6/15 at 100.00
|
AA+
|
8,440,318
|
||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
|
||||||||
5,750
|
5.000%, 6/01/33
|
6/17 at 100.00
|
Baa3
|
3,838,413
|
||||
1,000
|
5.125%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
610,150
|
||||
2,200
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009C, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
2,269,784
|
||||
1,495
|
Palmdale Civic Authority, California, Revenue Refinancing Bonds, Civic Center Project, Series 1997A, 5.375%, 7/01/12 – NPFG Insured
|
7/11 at 100.00
|
Baa1
|
1,497,796
|
||||
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A:
|
||||||||
2,000
|
0.000%, 1/15/29 – NPFG Insured
|
No Opt. Call
|
Baa1
|
377,440
|
||||
17,000
|
0.000%, 1/15/35 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,743,010
|
||||
575
|
Seaside Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2003, 5.375%, 8/01/18 – NPFG Insured
|
8/13 at 100.00
|
A
|
586,523
|
||||
77,045
|
Total California
|
47,109,738
|
Nuveen Investments
|
53
|
Nuveen Dividend Advantage Municipal Fund (continued)
|
||
NAD
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Colorado – 6.3% (4.0% of Total Investments)
|
||||||||
$
|
1,125
|
Antelope Heights Metropolitan District, Colorado, Limited Tax General Obligation Bonds, Series 2007, 5.000%, 12/01/37 – RAAI Insured
|
12/17 at 100.00
|
N/R
|
$
|
807,863
|
||
3,330
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.500%, 7/01/34
|
7/19 at 100.00
|
AA
|
3,342,754
|
||||
Denver City and County, Colorado, Airport Special Facilities Revenue Bonds, Rental Car Projects, Series 1999A:
|
||||||||
2,170
|
6.000%, 1/01/12 – NPFG Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
A–
|
2,178,897
|
||||
675
|
6.000%, 1/01/13 – NPFG Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
A–
|
677,363
|
||||
4,500
|
Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001A, 5.500%, 11/15/11 – FGIC Insured (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
4,618,394
|
||||
1,475
|
Denver, Colorado, FHA-Insured Multifamily Housing Revenue Bonds, Boston Lofts Project, Series 1997A, 5.750%, 10/01/27 (Alternative Minimum Tax)
|
10/11 at 100.00
|
B
|
1,379,774
|
||||
8,515
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/25 – NPFG Insured
|
No Opt. Call
|
Baa1
|
3,005,114
|
||||
25,000
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/31 – NPFG Insured
|
No Opt. Call
|
Baa1
|
5,191,000
|
||||
60,000
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 3/01/36 – NPFG Insured
|
No Opt. Call
|
Baa1
|
8,408,400
|
||||
12,500
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2006A, 0.000%, 9/01/38 – NPFG Insured
|
9/26 at 54.77
|
Baa1
|
1,372,125
|
||||
2,000
|
Metropolitan Football Stadium District, Colorado, Sales Tax Revenue Bonds, Series 1999A, 0.000%, 1/01/12 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,983,440
|
||||
121,290
|
Total Colorado
|
32,965,124
|
||||||
Connecticut – 0.3% (0.2% of Total Investments)
|
||||||||
4,335
|
Mashantucket Western Pequot Tribe, Connecticut, Subordinate Special Revenue Bonds, Series 2007A, 5.750%, 9/01/34
|
11/17 at 100.00
|
N/R
|
1,630,864
|
||||
Florida – 11.1% (7.1% of Total Investments)
|
||||||||
1,255
|
Florida Housing Finance Agency, Housing Revenue Bonds, Mar Lago Village Apartments, Series 1997F, 5.800%, 12/01/17 – AMBAC Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
N/R
|
1,255,251
|
||||
15,000
|
Florida State Board of Education, Public Education Capital Outlay Bonds, Series 2005E, 4.500%, 6/01/35 (UB)
|
6/15 at 101.00
|
AAA
|
13,945,950
|
||||
2,500
|
Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center, Series 2007, 5.000%, 10/01/34
|
10/17 at 100.00
|
A3
|
2,204,675
|
||||
13,625
|
Martin County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, Indiantown Cogeneration LP, Series 1994A, 7.875%, 12/15/25 (Alternative Minimum Tax)
|
6/11 at 100.00
|
BB+
|
13,693,125
|
||||
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007:
|
||||||||
22,000
|
5.000%, 8/15/37 (UB)
|
8/17 at 100.00
|
AA
|
19,940,579
|
||||
7,370
|
5.000%, 8/15/42 (UB)
|
8/17 at 100.00
|
AA
|
6,571,166
|
||||
61,750
|
Total Florida
|
57,610,746
|
||||||
Georgia – 1.7% (1.1% of Total Investments)
|
||||||||
5,000
|
Cobb County Development Authority, Georgia, Student Housing Revenue Bonds, KSU Village II Real Estate Foundation LLC Project, Series 2007A, 5.250%, 7/15/38 – AMBAC Insured
|
7/17 at 100.00
|
Baa2
|
4,143,300
|
||||
5,000
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 8.000%, 12/01/40
|
12/20 at 100.00
|
N/R
|
4,894,199
|
||||
10,000
|
Total Georgia
|
9,037,499
|
||||||
Idaho – 0.1% (0.1% of Total Investments)
|
||||||||
110
|
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 1999E, 5.750%, 1/01/21 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aa2
|
113,852
|
||||
140
|
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 2000D, 6.350%, 7/01/22 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aa2
|
142,817
|
||||
180
|
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 2000E, 5.950%, 7/01/20 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aaa
|
184,286
|
||||
430
|
Total Idaho
|
440,955
|
54
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Illinois – 30.1% (19.2% of Total Investments)
|
||||||||
$
|
1,070
|
Channahon, Illinois, Revenue Refunding Bonds, Morris Hospital, Series 1999, 5.750%, 12/01/12
|
6/11 at 101.00
|
BBB+
|
$
|
1,083,011
|
||
2,205
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/29 – FGIC Insured
|
No Opt. Call
|
Aa2
|
647,476
|
||||
7,250
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A, 5.500%, 12/01/26 – FGIC Insured
|
No Opt. Call
|
Aa2
|
7,328,445
|
||||
Chicago, Illinois, FHA/GNMA Multifamily Housing Revenue Bonds, Archer Court Apartments, Series 1999A:
|
||||||||
625
|
5.500%, 12/20/19 (Alternative Minimum Tax)
|
10/11 at 100.00
|
AA–
|
628,325
|
||||
1,210
|
5.600%, 12/20/29 (Alternative Minimum Tax)
|
10/11 at 100.00
|
AA–
|
1,211,089
|
||||
1,925
|
5.650%, 12/20/40 (Alternative Minimum Tax)
|
10/11 at 100.00
|
AA–
|
1,925,193
|
||||
22,750
|
Chicago, Illinois, General Obligation Refunding Bonds, Emergency Telephone System, Series 1999, 5.500%, 1/01/23 – FGIC Insured
|
No Opt. Call
|
Aa3
|
23,693,898
|
||||
1,655
|
Chicago, Illinois, Motor Fuel Tax Revenue Refunding Bonds, Series 1993, 5.375%, 1/01/14 – AMBAC Insured
|
No Opt. Call
|
AA+
|
1,747,283
|
||||
3,340
|
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2005A, 5.000%, 1/01/33 – FGIC Insured
|
1/16 at 100.00
|
A1
|
3,103,829
|
||||
190
|
DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, Series 2003B, 5.250%, 11/01/20 – AGM Insured
|
11/13 at 100.00
|
Aa3
|
204,659
|
||||
810
|
DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, Series 2003B, 5.250%, 11/01/20 (Pre-refunded 11/01/13) – AGM Insured
|
11/13 at 100.00
|
Aa3 (4)
|
900,842
|
||||
3,935
|
Illinois Development Finance Authority, Local Government Program Revenue Bonds, Lake County School District 116 – Round Lake, Series 1999, 0.000%, 1/01/15 – NPFG Insured
|
No Opt. Call
|
Baa1
|
3,443,046
|
||||
5,000
|
Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Refunding Series 2003A, 5.000%, 7/01/33
|
7/13 at 100.00
|
Aa1
|
5,017,500
|
||||
1,500
|
Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39
|
11/19 at 100.00
|
AA
|
1,433,595
|
||||
2,000
|
Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Series 2008A, 5.250%, 8/15/47 – AGC Insured (UB)
|
8/18 at 100.00
|
AA+
|
1,759,680
|
||||
1,000
|
Illinois Finance Authority, Revenue Bonds, Edward Health Services Corporation, Series 2008A, 5.500%, 2/01/40 – AMBAC Insured
|
2/18 at 100.00
|
A+
|
935,680
|
||||
5,570
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2004A, 5.000%, 7/01/34
|
7/14 at 100.00
|
Aa1
|
5,565,823
|
||||
1,225
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2007, 5.000%, 7/01/19
|
7/17 at 100.00
|
Aa1
|
1,349,068
|
||||
4,000
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 6.000%, 8/15/23
|
8/18 at 100.00
|
BBB
|
3,995,800
|
||||
5,980
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., Refunding Series 2007A, 5.250%, 5/01/34
|
5/17 at 100.00
|
Baa3
|
4,867,959
|
||||
9,800
|
Illinois Health Facilities Authority, Remarketed Revenue Bonds, University of Chicago Project, Series 1985A, 5.500%, 8/01/20
|
8/11 at 103.00
|
Aa1
|
10,121,342
|
||||
10,720
|
Illinois Health Facilities Authority, Revenue Bonds, Loyola University Health System, Series 1997A, 5.000%, 7/01/24 – NPFG Insured
|
7/11 at 100.00
|
Baa1
|
9,904,208
|
||||
1,500
|
Illinois Housing Development Authority, Housing Finance Bonds, Series 2005E, 4.800%, 1/01/36 – FGIC Insured
|
1/15 at 100.00
|
AA
|
1,381,815
|
||||
2,000
|
Kane & DeKalb Counties, Illinois, Community United School District 301, General Obligation Bonds, Series 2006, 0.000%, 12/01/21 – NPFG Insured
|
No Opt. Call
|
A1
|
1,157,500
|
||||
11,345
|
Lake and McHenry Counties Community Unit School District 118, Wauconda, Illinois, General Obligation Bonds, Series 2005B, 0.000%, 1/01/25 – AGM Insured
|
1/15 at 60.14
|
Aa3
|
5,157,324
|
||||
3,000
|
Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-1, 7.125%, 1/01/36
|
1/16 at 100.00
|
N/R
|
2,007,660
|
||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1996A:
|
||||||||
12,250
|
0.000%, 12/15/22 – NPFG Insured
|
No Opt. Call
|
A2
|
6,573,228
|
||||
13,000
|
0.000%, 12/15/23 – NPFG Insured
|
No Opt. Call
|
A2
|
6,465,810
|
||||
3,000
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 2002B, 5.750%, 6/15/23 – NPFG Insured
|
6/12 at 101.00
|
AAA
|
3,137,310
|
Nuveen Investments
|
55
|
Nuveen Dividend Advantage Municipal Fund (continued)
|
||
NAD
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Illinois (continued)
|
||||||||
$
|
1,840
|
Oak Park, Illinois, General Obligation Bonds, Series 2005B, 0.000%, 11/01/27 – SYNCORA GTY Insured
|
11/15 at 54.13
|
Aa2
|
$
|
697,967
|
||
Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1999:
|
||||||||
22,650
|
5.750%, 6/01/19 – AGM Insured
|
No Opt. Call
|
AA+
|
25,289,178
|
||||
3,500
|
5.750%, 6/01/23 – AGM Insured
|
No Opt. Call
|
AA+
|
3,781,400
|
||||
1,300
|
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%,
12/01/34 – FGIC Insured |
12/14 at 100.00
|
Aaa
|
1,311,765
|
||||
10,000
|
Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2006, 0.000%, 1/01/23 – AGM Insured
|
No Opt. Call
|
Aa2
|
5,230,600
|
||||
4,500
|
Will County School District 122, New Lenox, Illinois, General Obligation Bonds, Series 2000B, 0.000%, 11/01/18 – AGM Insured
|
No Opt. Call
|
Aa3
|
3,198,915
|
||||
183,645
|
Total Illinois
|
156,258,223
|
||||||
Indiana – 4.4% (2.8% of Total Investments)
|
||||||||
1,630
|
Hospital Authority of Delaware County, Indiana, Hospital Revenue Refunding Bonds, Cardinal Health System, Series 1997, 5.000%, 8/01/16 – AMBAC Insured
|
7/11 at 100.00
|
N/R
|
1,599,715
|
||||
4,000
|
Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2009A, 5.250%, 12/01/38
|
12/19 at 100.00
|
AA
|
3,719,560
|
||||
2,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
BBB+
|
1,804,020
|
||||
5,865
|
Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Tender Option Bond Trust 1847, 7.863%, 1/01/25 (Alternative Minimum Tax) (IF)
|
1/17 at 100.00
|
Aaa
|
5,297,327
|
||||
6,675
|
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 – NPFG Insured
|
1/17 at 100.00
|
A+
|
6,210,553
|
||||
3,965
|
Marion County Convention and Recreational Facilities Authority, Indiana, Excise Taxes Lease Rental Revenue Subordinate Bonds, Series 1997A, 5.000%, 6/01/22 – NPFG Insured
|
7/11 at 100.00
|
Baa1
|
3,973,604
|
||||
24,135
|
Total Indiana
|
22,604,779
|
||||||
Iowa – 0.9% (0.6% of Total Investments)
|
||||||||
7,000
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.625%, 6/01/46
|
6/15 at 100.00
|
BBB
|
4,720,519
|
||||
Kansas – 1.7% (1.1% of Total Investments)
|
||||||||
3,825
|
Wichita, Kansas, Water and Sewerage Utility Revenue Bonds, Series 1999, 4.000%, 10/01/18 – FGIC Insured
|
10/11 at 100.00
|
Aa2
|
3,829,169
|
||||
2,945
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Redevelopment Project Area B, Series 2005, 5.000%, 12/01/20
|
12/15 at 100.00
|
N/R
|
2,976,129
|
||||
3,730
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area
B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 |
No Opt. Call
|
N/R
|
2,066,308
|
||||
10,500
|
Total Kansas
|
8,871,606
|
||||||
Kentucky – 1.2% (0.7% of Total Investments)
|
||||||||
Kentucky Economic Development Finance Authority, Hospital System Revenue Refunding and Improvement Bonds, Appalachian Regional Healthcare Inc., Series 1997:
|
||||||||
1,850
|
5.850%, 10/01/17
|
10/11 at 100.00
|
BB–
|
1,728,196
|
||||
4,990
|
5.875%, 10/01/22
|
10/11 at 100.00
|
BB–
|
4,304,873
|
||||
6,840
|
Total Kentucky
|
6,033,069
|
||||||
Louisiana – 7.5% (4.8% of Total Investments)
|
||||||||
1,750
|
Louisiana Local Government Environmental Facilities and Community Development Authority, GNMA Collateralized Mortgage Revenue Refunding Bonds, Sharlo Apartments, Series 2002A, 6.500%, 6/20/37
|
6/12 at 105.00
|
Aaa
|
1,853,023
|
||||
5,350
|
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%, 7/01/33 – NPFG Insured
|
7/14 at 100.00
|
Baa1
|
5,273,763
|
||||
9,000
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A, 5.500%, 5/15/47
|
5/17 at 100.00
|
Baa1
|
7,492,590
|
||||
5,445
|
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, 4.500%, 5/01/41 – FGIC Insured (UB)
|
5/16 at 100.00
|
Aa1
|
4,980,814
|
56
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Louisiana (continued)
|
||||||||
$
|
13,570
|
Louisiana Transportation Authority, Senior Lien Toll Road Revenue Bonds, Series 2005B, 0.000%, 12/01/28 – AMBAC Insured
|
7/11 at 40.01
|
AA–
|
$
|
4,550,157
|
||
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B:
|
||||||||
8,870
|
5.500%, 5/15/30
|
5/11 at 101.00
|
A
|
8,756,464
|
||||
6,750
|
5.875%, 5/15/39
|
5/11 at 101.00
|
A–
|
6,160,253
|
||||
50,735
|
Total Louisiana
|
39,067,064
|
||||||
Massachusetts – 2.7% (1.7% of Total Investments)
|
||||||||
1,440
|
Boston Industrial Development Financing Authority, Massachusetts, Subordinate Revenue Bonds, Crosstown Center Project, Series 2002, 8.000%, 9/01/35 (Alternative Minimum Tax)
|
9/12 at 102.00
|
N/R
|
431,626
|
||||
2,500
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2003A, 5.250%, 7/01/11
|
No Opt. Call
|
AAA
|
2,521,525
|
||||
4,365
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System, Series 2005F, 5.000%, 10/01/19 – AGC Insured
|
10/15 at 100.00
|
AA+
|
4,548,636
|
||||
620
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.125%, 7/01/33
|
7/18 at 100.00
|
A3
|
551,819
|
||||
2,300
|
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39
|
7/19 at 100.00
|
BBB
|
2,181,734
|
||||
2,925
|
Massachusetts Housing Finance Agency, Housing Bonds, Series 2009F, 5.700%, 6/01/40
|
12/18 at 100.00
|
AA–
|
2,836,051
|
||||
785
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, US Airways Group Inc., Series 1996A, 5.875%, 9/01/23 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
679,127
|
||||
1,000
|
Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series 1997A, 0.000%, 1/01/24 – NPFG Insured
|
No Opt. Call
|
A
|
505,910
|
||||
15,935
|
Total Massachusetts
|
14,256,428
|
||||||
Michigan – 2.9% (1.8% of Total Investments)
|
||||||||
6,000
|
Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 – NPFG Insured
|
7/15 at 100.00
|
A
|
5,386,860
|
||||
3,215
|
Detroit, Michigan, Water Supply System Revenue Bonds, Series 2004A, 5.250%, 7/01/18 – NPFG Insured
|
7/16 at 100.00
|
A2
|
3,310,003
|
||||
3,480
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2001I, 5.125%, 10/15/20
|
10/11 at 100.00
|
Aa3
|
3,528,407
|
||||
1,500
|
Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Oakwood Obligated Group, Series 2003, 5.500%, 11/01/11
|
No Opt. Call
|
A
|
1,528,740
|
||||
1,150
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39
|
9/18 at 100.00
|
A1
|
1,307,493
|
||||
15,345
|
Total Michigan
|
15,061,503
|
||||||
Minnesota – 1.4% (0.9% of Total Investments)
|
||||||||
6,375
|
Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.625%, 11/15/28
|
11/18 at 100.00
|
A
|
6,853,508
|
||||
470
|
Minnesota Housing Finance Agency, Single Family Mortgage Bonds, Series 1998H-1, 5.650%, 7/01/31 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA+
|
485,919
|
||||
6,845
|
Total Minnesota
|
7,339,427
|
||||||
Missouri – 2.4% (1.5% of Total Investments)
|
||||||||
Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1:
|
||||||||
7,000
|
0.000%, 4/15/27 – AMBAC Insured
|
No Opt. Call
|
AA–
|
2,754,360
|
||||
5,000
|
0.000%, 4/15/29 – AMBAC Insured
|
No Opt. Call
|
AA–
|
1,699,850
|
||||
Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Healthcare System, Series 2001A:
|
||||||||
300
|
5.250%, 6/01/21 (Pre-refunded 6/01/11) – AMBAC Insured
|
6/11 at 101.00
|
AA– (4)
|
304,329
|
||||
1,885
|
5.250%, 6/01/21 (Pre-refunded 6/01/11) – AMBAC Insured
|
6/11 at 101.00
|
AA– (4)
|
1,912,201
|
||||
2,185
|
5.250%, 6/01/21 (Pre-refunded 6/01/11) – AMBAC Insured
|
6/11 at 101.00
|
AA– (4)
|
2,216,530
|
||||
3,670
|
5.250%, 6/01/28 (Pre-refunded 6/01/11) – AMBAC Insured
|
6/11 at 101.00
|
AA– (4)
|
3,722,958
|
||||
20,040
|
Total Missouri
|
12,610,228
|
Nuveen Investments
|
57
|
Nuveen Dividend Advantage Municipal Fund (continued)
|
||
NAD
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Montana – 0.3% (0.2% of Total Investments)
|
||||||||
$
|
385
|
Montana Board of Housing, Single Family Mortgage Bonds, Series 2000A-2, 6.450%, 6/01/29 (Alternative Minimum Tax)
|
6/11 at 100.00
|
AA+
|
$
|
391,915
|
||
1,000
|
Montana Higher Education Student Assistance Corporation, Student Loan Revenue Bonds, Subordinate Series 1999B, 6.400%, 12/01/32 (Alternative Minimum Tax)
|
6/11 at 100.00
|
A2
|
977,080
|
||||
1,385
|
Total Montana
|
1,368,995
|
||||||
Nevada – 5.3% (3.4% of Total Investments)
|
||||||||
10,000
|
Clark County, Nevada, Airport Revenue Bonds, Subordinte Lien Series 2010B, 5.750%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
10,107,900
|
||||
9,675
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
9,016,229
|
||||
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000:
|
||||||||
8,000
|
0.000%, 1/01/19 – AMBAC Insured
|
No Opt. Call
|
N/R
|
1,256,320
|
||||
4,000
|
5.625%, 1/01/32 – AMBAC Insured (5)
|
1/12 at 100.00
|
N/R
|
1,003,480
|
||||
3,000
|
5.375%, 1/01/40 – AMBAC Insured (5)
|
7/11 at 100.00
|
N/R
|
752,340
|
||||
3,750
|
Henderson, Nevada, Healthcare Facility Revenue Refunding Bonds, Catholic Healthcare West, Series 2007B, Trust 2633, 18.765%, 7/01/31 – BHAC Insured (IF)
|
7/17 at 100.00
|
AA+
|
3,910,200
|
||||
1,500
|
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A, 8.000%, 6/15/30
|
6/19 at 100.00
|
A
|
1,666,140
|
||||
39,925
|
Total Nevada
|
27,712,609
|
||||||
New Jersey – 7.1% (4.5% of Total Investments)
|
||||||||
6,850
|
New Jersey Educational Facilities Authority, Revenue Refunding Bonds, University of Medicine and Dentistry of New Jersey, Series 2009B, 5.750%, 12/01/15
|
No Opt. Call
|
Baa1
|
7,476,090
|
||||
1,830
|
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2000A, 6.000%, 6/01/13 – NPFG Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
Aaa
|
1,836,204
|
||||
4,130
|
New Jersey Transit Corporation, Certificates of Participation, Federal Transit Administration Grants, Series 2002A, 5.500%, 9/15/13 – AMBAC Insured
|
No Opt. Call
|
Aa3
|
4,460,235
|
||||
4,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 1999A, 5.750%, 6/15/18
|
No Opt. Call
|
A+
|
4,534,080
|
||||
20,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/28 – AMBAC Insured
|
No Opt. Call
|
A+
|
6,476,400
|
||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2002:
|
||||||||
6,940
|
5.750%, 6/01/32 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
7,228,079
|
||||
3,165
|
6.125%, 6/01/42 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
3,364,015
|
||||
1,365
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2003, 6.750%, 6/01/39 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
1,535,884
|
||||
48,280
|
Total New Jersey
|
36,910,987
|
||||||
New Mexico – 1.5% (0.9% of Total Investments)
|
||||||||
4,000
|
Santa Fe Public School District, Santa Fe County, New Mexico, General Obligation Bonds, Series 2009, 2.500%, 8/01/11
|
No Opt. Call
|
Aa1
|
4,022,960
|
||||
3,730
|
University of New Mexico, FHA-Insured Mortgage Hospital Revenue Bonds, Series 2004, 5.000%, 7/01/32 – AGM Insured
|
7/14 at 100.00
|
AA+
|
3,730,298
|
||||
7,730
|
Total New Mexico
|
7,753,258
|
||||||
New York – 9.9% (6.3% of Total Investments)
|
||||||||
2,170
|
Dormitory Authority of the State of New York, Insured Revenue Bonds, Franciscan Health Partnership Obligated Group – Frances Shervier Home and Hospital, Series 1997, 5.500%, 7/01/17 – RAAI Insured
|
7/11 at 100.00
|
A3
|
2,171,693
|
||||
7,500
|
Dormitory Authority of the State of New York, Secured Hospital Revenue Refunding Bonds, Wyckoff Heights Medical Center, Series 1998H, 5.300%, 8/15/21 – NPFG Insured
|
8/11 at 100.00
|
AA–
|
7,507,425
|
||||
6,000
|
New York City Industrial Development Agency, New York, American Airlines-JFK International Airport Special Facility Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum Tax)
|
8/16 at 101.00
|
B–
|
6,076,680
|
||||
4,755
|
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured
|
3/19 at 100.00
|
AA+
|
5,171,918
|
||||
5,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Series 2004B, 5.000%, 6/15/36 – AGM Insured (UB)
|
12/14 at 100.00
|
AAA
|
5,020,250
|
58
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
New York (continued)
|
||||||||
$
|
8,800
|
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local Government Assistance Corporation, Series 2004A, 5.000%, 10/15/32 – AMBAC Insured (UB)
|
10/14 at 100.00
|
AAA
|
$
|
8,937,984
|
||
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010:
|
||||||||
5,000
|
6.500%, 12/01/28
|
12/15 at 100.00
|
BBB–
|
5,113,700
|
||||
1,670
|
6.000%, 12/01/36
|
12/20 at 100.00
|
BBB–
|
1,622,104
|
||||
10,000
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC, Sixth Series 1997, 5.900%, 12/01/17 – NPFG Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
Baa1
|
9,999,400
|
||||
50,895
|
Total New York
|
51,621,154
|
||||||
North Carolina – 1.1% (0.7% of Total Investments)
|
||||||||
1,500
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue Bonds, Series 2008A, 5.250%, 1/15/24 – AGC Insured
|
1/18 at 100.00
|
AA–
|
1,573,290
|
||||
3,830
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
1/15 at 100.00
|
AAA
|
4,367,426
|
||||
5,330
|
Total North Carolina
|
5,940,716
|
||||||
North Dakota – 1.6% (1.0% of Total Investments)
|
||||||||
4,325
|
Bismarck, North Dakota, Health Care Revenue Bonds, St. Alexius Medical Center, Series 1998A, 5.250%, 7/01/15 – AGM Insured
|
7/11 at 100.00
|
AA+
|
4,337,370
|
||||
3,910
|
Fargo, North Dakota, Health System Revenue Bonds, Sanford Series 2011, 6.250%, 11/01/31
|
11/21 at 100.00
|
AA–
|
4,081,375
|
||||
8,235
|
Total North Dakota
|
8,418,745
|
||||||
Ohio – 3.7% (2.4% of Total Investments)
|
||||||||
2,300
|
Amherst Exempted Village School District, Ohio, Unlimited Tax General Obligation School Improvement Bonds, Series 2001, 5.125%, 12/01/21 (Pre-refunded 12/01/11) – FGIC Insured
|
12/11 at 100.00
|
Aa2 (4)
|
2,364,653
|
||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||
1,275
|
5.375%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
1,000,289
|
||||
160
|
5.125%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
123,626
|
||||
1,800
|
5.875%, 6/01/30
|
6/17 at 100.00
|
Baa3
|
1,298,952
|
||||
1,740
|
5.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
1,198,860
|
||||
3,930
|
5.875%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
2,651,532
|
||||
6,000
|
Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010, 5.250%, 11/01/29
|
11/20 at 100.00
|
BBB+
|
5,164,680
|
||||
3,650
|
Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A, 5.000%, 5/01/30
|
5/14 at 100.00
|
AA
|
3,549,625
|
||||
1,000
|
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19
|
No Opt. Call
|
BBB–
|
1,008,290
|
||||
840
|
Warren County, Ohio, Limited Tax General Obligations, Series 1997, 5.500%, 12/01/17
|
6/11 at 100.00
|
Aa1
|
843,251
|
||||
22,695
|
Total Ohio
|
19,203,758
|
||||||
Oregon – 0.5% (0.3% of Total Investments)
|
||||||||
2,355
|
Portland, Oregon, Downtown Waterfront Urban Renewal and Redevelopment Revenue Bonds, Series 2000A, 5.500%, 6/15/20 – AMBAC Insured
|
6/11 at 100.00
|
Aa3
|
2,355,683
|
||||
Pennsylvania – 3.0% (1.9% of Total Investments)
|
||||||||
1,250
|
Erie Water Authority, Pennsylvania, Water Revenue Bonds, Series 2008, 5.000%, 12/01/43 – AGM Insured
|
12/18 at 100.00
|
AA+
|
1,225,313
|
||||
1,500
|
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-96A, 4.650%, 10/01/31 (Alternative Minimum Tax) (UB)
|
10/16 at 100.00
|
AA+
|
1,365,240
|
||||
8,200
|
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 0.000%, 12/01/38
|
12/27 at 100.00
|
A–
|
5,670,792
|
||||
5,000
|
Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%, 6/01/33 – AGM Insured
|
6/26 at 100.00
|
AA+
|
3,960,950
|
||||
3,205
|
Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2002B, 5.625%, 8/01/16 (Pre-refunded 8/01/12) – FGIC Insured
|
8/12 at 100.00
|
Aa2 (4)
|
3,412,876
|
||||
19,155
|
Total Pennsylvania
|
15,635,171
|
Nuveen Investments
|
59
|
Nuveen Dividend Advantage Municipal Fund (continued)
|
||
NAD
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Puerto Rico – 5.9% (3.8% of Total Investments)
|
||||||||
$
|
2,500
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44
|
7/18 at 100.00
|
Baa1
|
$
|
2,356,275
|
||
4,300
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 4.500%, 12/01/23 (Pre-refunded 12/01/13) (UB)
|
12/13 at 100.00
|
AA+ (4)
|
4,280,220
|
||||
8,200
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 4.500%, 12/01/23 (Pre-refunded 12/01/13)
|
12/13 at 100.00
|
AAA
|
8,959,894
|
||||
12,845
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, 0.000%, 7/01/42 – FGIC Insured
|
No Opt. Call
|
A3
|
1,257,654
|
||||
10,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
10,018,200
|
||||
4,310
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41
|
8/20 at 100.00
|
A+
|
3,894,128
|
||||
42,155
|
Total Puerto Rico
|
30,766,371
|
||||||
Rhode Island – 3.1% (2.0% of Total Investments)
|
||||||||
2,015
|
Central Falls, Rhode Island, General Obligation School Bonds, Series 1999, 6.250%, 5/15/20 – RAAI Insured
|
5/11 at 100.00
|
B3
|
1,500,349
|
||||
Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity 57-B Bond Program, Series 2008, Trust 1177:
|
||||||||
1,500
|
9.479%, 4/01/23 (Alternative Minimum Tax) (IF)
|
4/17 at 100.00
|
AA+
|
1,501,380
|
||||
1,000
|
9.579%, 4/01/23 (Alternative Minimum Tax) (IF)
|
4/17 at 100.00
|
AA+
|
968,460
|
||||
12,500
|
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.125%, 6/01/32
|
6/12 at 100.00
|
BBB
|
11,978,875
|
||||
17,015
|
Total Rhode Island
|
15,949,064
|
||||||
South Carolina – 0.7% (0.4% of Total Investments)
|
||||||||
2,045
|
Florence County, South Carolina, Hospital Revenue Bonds, McLeod Regional Medical Center, Series 2004A, 5.250%, 11/01/27 – AGM Insured
|
11/14 at 100.00
|
AA+
|
2,066,145
|
||||
1,500
|
Greenville, South Carolina, Hospital Facilities Revenue Bonds, Series 2001, 5.000%, 5/01/31 – AMBAC Insured
|
5/12 at 100.00
|
AA–
|
1,404,510
|
||||
3,545
|
Total South Carolina
|
3,470,655
|
||||||
Tennessee – 0.9% (0.6% of Total Investments)
|
||||||||
430
|
Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 1999D, 6.000%, 3/01/24 – AMBAC Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
A2
|
430,563
|
||||
2,425
|
Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2001B, 5.125%, 3/01/26 – AGM Insured
|
9/11 at 100.00
|
AA+
|
2,426,382
|
||||
2,310
|
Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Wellmont Health System, Series 2006C, 5.250%, 9/01/36
|
9/16 at 100.00
|
BBB+
|
1,913,720
|
||||
1,500
|
Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/46 (5), (6)
|
11/17 at 100.00
|
N/R
|
75,150
|
||||
6,665
|
Total Tennessee
|
4,845,815
|
||||||
Texas – 7.7% (4.9% of Total Investments)
|
||||||||
2,560
|
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax)
|
4/13 at 101.00
|
Ca
|
1,079,578
|
||||
2,000
|
Capital Area Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, The Roman Catholic Diocese of Austin, Series 2005B. Remarketed, 6.125%, 4/01/45
|
4/20 at 100.00
|
Baa2
|
1,921,400
|
||||
2,820
|
Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds, Series 2005, 5.000%, 1/01/45 – FGIC Insured
|
1/15 at 100.00
|
BBB
|
2,197,344
|
||||
820
|
Dallas Area Rapid Transit, Texas, Senior Lien Sales Tax Revenue Bonds, Series 2001, 5.000%, 12/01/31 (Pre-refunded 12/01/11) – AMBAC Insured
|
12/11 at 100.00
|
AA+ (4)
|
842,812
|
||||
2,610
|
Granbury Independent School District, Counties of Hood, Johnson, Parker, and Somervell, Texas, Unlimited Tax School Building and Refunding Bonds, Series 1999, 0.000%, 8/01/11
|
No Opt. Call
|
AAA
|
2,607,338
|
||||
2,305
|
Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Refunding Bonds, Series 2001A, 0.000%, 11/15/20 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,046,193
|
60
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Texas (continued)
|
||||||||
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:
|
||||||||
$
|
3,130
|
0.000%, 9/01/30 – AMBAC Insured
|
No Opt. Call
|
A2
|
$
|
838,245
|
||
12,030
|
0.000%, 9/01/31 – AMBAC Insured
|
No Opt. Call
|
A2
|
2,985,966
|
||||
30,095
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2004, 0.000%, 8/15/34
|
8/12 at 27.94
|
AAA
|
7,834,330
|
||||
9,345
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2005, 0.000%, 8/15/33 – FGIC Insured
|
8/15 at 37.33
|
AA–
|
2,724,254
|
||||
33,160
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2006, 0.000%, 8/15/38
|
8/14 at 26.50
|
AAA
|
6,923,808
|
||||
1,000
|
San Antonio, Texas, Water System Revenue Bonds, Series 2005, 4.750%, 5/15/37 – NPFG Insured
|
5/15 at 100.00
|
Aa1
|
991,850
|
||||
3,295
|
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds, Series 2007, Residuals 1761, 16.974%, 2/15/36 (IF)
|
2/17 at 100.00
|
AA–
|
2,158,489
|
||||
7,000
|
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds, Series 2005, 0.000%, 8/15/35
|
8/15 at 34.92
|
AAA
|
1,836,590
|
||||
Wylie Independent School District, Collin County, Texas, General Obligation Bonds, Series 2005:
|
||||||||
3,000
|
0.000%, 8/15/20
|
8/15 at 78.46
|
AAA
|
2,013,270
|
||||
3,000
|
0.000%, 8/15/22
|
8/15 at 70.77
|
AAA
|
1,778,100
|
||||
118,170
|
Total Texas
|
39,779,567
|
||||||
Utah – 0.1% (0.1% of Total Investments)
|
||||||||
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 1999C-2, Class II:
|
||||||||
125
|
5.700%, 7/01/19 (Alternative Minimum Tax)
|
7/11 at 100.75
|
Aaa
|
128,996
|
||||
35
|
5.750%, 7/01/21 (Alternative Minimum Tax)
|
7/11 at 100.75
|
Aa2
|
35,030
|
||||
275
|
Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 2000F-2, Class III, 6.000%, 1/01/15 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA–
|
275,349
|
||||
435
|
Total Utah
|
439,375
|
||||||
Virginia – 0.8% (0.5% of Total Investments)
|
||||||||
1,500
|
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/42
|
10/17 at 100.00
|
N/R
|
1,267,155
|
||||
2,930
|
Virginia Beach, Virginia, General Obligation Bonds, Series 2008A, 5.000%, 10/01/11
|
No Opt. Call
|
AAA
|
2,988,893
|
||||
4,430
|
Total Virginia
|
4,256,048
|
||||||
Washington – 9.2% (5.8% of Total Investments)
|
||||||||
4,000
|
Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 3, Series 2003A, 5.500%, 7/01/17 – SYNCORA GTY Insured
|
7/13 at 100.00
|
Aaa
|
4,342,480
|
||||
Port of Seattle, Washington, Special Facility Revenue Bonds, Terminal 18, Series 1999B:
|
||||||||
1,755
|
6.000%, 9/01/15 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
1,758,563
|
||||
2,590
|
6.000%, 9/01/16 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
2,594,714
|
||||
Port of Seattle, Washington, Special Facility Revenue Bonds, Terminal 18, Series 1999C:
|
||||||||
875
|
6.000%, 9/01/15 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
876,776
|
||||
1,260
|
6.000%, 9/01/16 – NPFG Insured (Alternative Minimum Tax)
|
9/11 at 100.00
|
Baa1
|
1,262,293
|
||||
2,000
|
Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 6.000%, 1/01/33
|
7/19 at 100.00
|
A
|
2,007,480
|
||||
5,955
|
Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2002, 6.500%, 6/01/26
|
6/13 at 100.00
|
BBB
|
6,003,771
|
||||
3,350
|
Washington, General Obligation Compound Interest Bonds, Series 1999S-2, 0.000%, 1/01/18 – AGM Insured
|
No Opt. Call
|
AA+
|
2,742,746
|
||||
Washington, General Obligation Compound Interest Bonds, Series 1999S-3:
|
||||||||
17,650
|
0.000%, 1/01/20
|
No Opt. Call
|
AA+
|
13,052,528
|
||||
18,470
|
0.000%, 1/01/21
|
No Opt. Call
|
AA+
|
12,968,156
|
||||
57,905
|
Total Washington
|
47,609,507
|
||||||
Wisconsin – 7.3% (4.7% of Total Investments)
|
||||||||
1,690
|
Green Bay, Wisconsin, Water System Revenue Bonds, Series 2004, 5.000%, 11/01/29 (Pre-refunded 11/01/14) – AGM Insured
|
11/14 at 100.00
|
Aa2 (4)
|
1,931,788
|
||||
560
|
Green Bay, Wisconsin, Water System Revenue Bonds, Series 2004, 5.000%, 11/01/29 – AGM Insured
|
11/14 at 100.00
|
Aa2
|
567,627
|
Nuveen Investments
|
61
|
Nuveen Dividend Advantage Municipal Fund (continued)
|
||
NAD
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Wisconsin (continued)
|
||||||||
$
|
7,410
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health, Series 2006A, 5.000%, 11/15/36
|
11/16 at 100.00
|
AA+
|
$
|
6,972,291
|
||
4,330
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Childrens Hospital of Wisconsin Inc., Series 2008B, 5.500%, 8/15/29
|
2/20 at 100.00
|
AA–
|
4,347,580
|
||||
4,380
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Kenosha Hospital and Medical Center Inc., Series 1999, 5.625%, 5/15/29
|
5/11 at 100.00
|
A
|
4,357,793
|
||||
12,700
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Health System Corporation, Series 1999, 5.500%, 8/15/25 – AMBAC Insured
|
8/11 at 100.00
|
A2
|
12,701,016
|
||||
2,200
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc., Series 2003A, 5.125%, 8/15/33
|
8/13 at 100.00
|
BBB+
|
1,866,791
|
||||
5,000
|
Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 6.000%, 5/01/36
|
5/19 at 100.00
|
AA–
|
5,382,902
|
||||
38,270
|
Total Wisconsin
|
38,127,788
|
||||||
$
|
1,128,345
|
Total Municipal Bonds (cost $856,414,911)
|
814,511,526
|
|||||
Shares
|
Description (1)
|
Value
|
||||||
Investment Companies – 0.1% (0.1% of Total Investments)
|
||||||||
8,812
|
BlackRock MuniHoldings Fund Inc.
|
$
|
127,862
|
|||||
32,332
|
Invesco Van Kampen Quality Municipal Income Trust
|
385,397
|
||||||
Total Investment Companies (cost $528,388)
|
513,259
|
|||||||
Total Investments (cost $856,943,299) – 156.9%
|
815,024,785
|
|||||||
Floating Rate Obligations – (9.9)%
|
(51,605,000)
|
|||||||
MuniFund Term Preferred Shares, at Liquidation Value – (27.8)% (7)
|
(144,300,000)
|
|||||||
Other Assets Less Liabilities – 3.9%
|
20,542,199
|
|||||||
Auction Rate Preferred Shares, at Liquidation Value – (23.1)% (7)
|
(120,075,000)
|
|||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
519,586,984
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Such investments are normally considered to be equivalent to AAA rated securities.
|
|
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
|
(6)
|
For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
|
|
(7)
|
MuniFund Term Preferred Shares and Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments are 17.7% and 14.7%, respectively.
|
|
N/R
|
Not rated.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
62
|
Nuveen Investments
|
Nuveen Dividend Advantage Municipal Fund 2
|
||
NXZ
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Alabama – 5.2% (3.5% of Total Investments)
|
||||||||
$
|
2,030
|
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series 2006C-2, 5.000%, 11/15/39
|
11/16 at 100.00
|
AA+
|
$
|
1,898,456
|
||
18,500
|
Huntsville Healthcare Authority, Alabama, Revenue Bonds, Series 2001A, 5.750%, 6/01/31 (Pre-refunded 6/01/11)
|
6/11 at 101.00
|
A1 (4)
|
18,774,910
|
||||
20,530
|
Total Alabama
|
20,673,366
|
||||||
Alaska – 0.9% (0.6% of Total Investments)
|
||||||||
2,290
|
Anchorage, Alaska, Water Revenue Bonds, Refunding Series 2007, 5.000%, 5/01/37 – NPFG Insured
|
No Opt. Call
|
AA
|
2,281,733
|
||||
2,200
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46
|
6/14 at 100.00
|
Baa3
|
1,309,792
|
||||
4,490
|
Total Alaska
|
3,591,525
|
||||||
Arizona – 1.8% (1.2% of Total Investments)
|
||||||||
4,500
|
Phoenix Civic Improvement Corporation, Arizona, Junior Lien Airport Revenue Bonds, Series 2010A, 5.000%, 7/01/40
|
No Opt. Call
|
A+
|
4,125,825
|
||||
3,120
|
Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 2002B, 5.250%, 7/01/32 – FGIC Insured (Alternative Minimum Tax)
|
7/12 at 100.00
|
AA–
|
3,009,677
|
||||
7,620
|
Total Arizona
|
7,135,502
|
||||||
Arkansas – 0.2% (0.1% of Total Investments)
|
||||||||
655
|
Arkansas Development Finance Authority, Single Family Mortgage Revenue Bonds, GNMA Mortgage-Backed Securities Program, Series 2002C, 5.400%, 1/01/34 (Alternative Minimum Tax)
|
1/12 at 100.00
|
AAA
|
649,871
|
||||
California – 17.8% (11.9% of Total Investments)
|
||||||||
9,000
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36
|
12/18 at 100.00
|
Baa3
|
6,444,810
|
||||
6,000
|
California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2001Q, 5.250%, 12/01/32
|
6/11 at 101.00
|
AAA
|
6,076,800
|
||||
4,080
|
California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System, Series 2006, 5.000%, 4/01/37 – BHAC Insured
|
4/16 at 100.00
|
AA+
|
3,922,267
|
||||
4,250
|
California State, General Obligation Bonds, Various Purpose Series 2010, 5.250%, 11/01/40
|
11/20 at 100.00
|
A1
|
4,116,848
|
||||
4,000
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series 2005, 0.000%, 8/01/22 – NPFG Insured
|
No Opt. Call
|
Aa1
|
2,148,000
|
||||
20,000
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/45 – FGIC Insured
|
6/15 at 100.00
|
A2
|
16,441,600
|
||||
5,000
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
5,615,900
|
||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
|
||||||||
2,050
|
5.000%, 6/01/33
|
6/17 at 100.00
|
Baa3
|
1,368,478
|
||||
1,000
|
5.125%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
610,150
|
||||
6,000
|
Los Angeles Regional Airports Improvement Corporation, California, Sublease Revenue Bonds, Los Angeles International Airport, American Airlines Inc. Terminal 4 Project, Series 2002C, 7.500%, 12/01/24 (Alternative Minimum Tax)
|
12/12 at 102.00
|
B–
|
6,007,200
|
||||
10,885
|
Norwalk La Mirada Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2005, 0.000%, 8/01/25 – FGIC Insured
|
No Opt. Call
|
Aa3
|
4,336,040
|
||||
5,000
|
Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 – AGC Insured
|
8/29 at 100.00
|
AA+
|
3,079,500
|
||||
2,000
|
Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A, 5.000%, 7/01/47
|
7/17 at 100.00
|
Baa1
|
1,531,740
|
||||
3,200
|
Redlands Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2003, 0.000%, 7/01/27 – AGM Insured
|
No Opt. Call
|
AA+
|
1,121,408
|
||||
3,000
|
San Joaquin Delta Community College District, California, General Obligation Bonds, Election 2004 Series 2008B, 0.000%, 8/01/29 – AGM Insured
|
8/18 at 53.32
|
AA+
|
881,910
|
Nuveen Investments
|
63
|
Nuveen Dividend Advantage Municipal Fund 2 (continued)
|
||
NXZ
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
California (continued)
|
||||||||
$
|
12,500
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A, 0.000%, 1/15/32 – NPFG Insured
|
No Opt. Call
|
Baa1
|
$
|
1,726,625
|
||
5,000
|
San Jose, California, Airport Revenue Bonds, Series 2007A, 6.000%, 3/01/47 – AMBAC Insured (Alternative Minimum Tax)
|
3/17 at 100.00
|
A
|
5,045,750
|
||||
40
|
Yuba County Water Agency, California, Yuba River Development Revenue Bonds, Pacific Gas and Electric Company, Series 1966A, 4.000%, 3/01/16
|
9/11 at 100.00
|
Baa1
|
39,256
|
||||
103,005
|
Total California
|
70,514,282
|
||||||
Colorado – 11.0% (7.3% of Total Investments)
|
||||||||
2,245
|
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Peak-to-Peak Charter School, Series 2001, 7.500%, 8/15/21 (Pre-refunded 8/15/11)
|
8/11 at 100.00
|
AAA
|
2,289,967
|
||||
2,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2007, 5.250%, 5/15/42
|
5/17 at 100.00
|
BBB
|
1,640,840
|
||||
Denver City and County, Colorado, Airport Revenue Bonds, Series 2006A:
|
||||||||
5,365
|
5.000%, 11/15/23 – FGIC Insured (UB)
|
11/16 at 100.00
|
A+
|
5,594,354
|
||||
3,300
|
5.000%, 11/15/24 – FGIC Insured
|
11/16 at 100.00
|
A+
|
3,417,579
|
||||
4,335
|
5.000%, 11/15/25 – FGIC Insured (UB)
|
11/16 at 100.00
|
A+
|
4,459,501
|
||||
10,000
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Capital Appreciation Series 2010A, 0.000%, 9/01/41
|
No Opt. Call
|
Baa2
|
975,600
|
||||
8,000
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/28 – NPFG Insured
|
9/20 at 63.99
|
Baa1
|
2,091,120
|
||||
1,280
|
Eagle County Air Terminal Corporation, Colorado, Airport Terminal Revenue Bonds, Series 2001, 7.125%, 5/01/31 (Alternative Minimum Tax)
|
11/11 at 101.00
|
N/R
|
1,200,051
|
||||
755
|
Jefferson County School District R1, Colorado, General Obligation Bonds, Series 2004, 5.000%, 12/15/22 (Pre-refunded 12/15/14) – AGM Insured (UB)
|
12/14 at 100.00
|
AA+ (4)
|
862,119
|
||||
5,000
|
Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001A, 5.250%, 6/15/41 (Pre-refunded 6/15/11) – AGM Insured
|
6/11 at 102.00
|
AA+ (4)
|
5,131,450
|
||||
Northwest Parkway Public Highway Authority, Colorado, Senior Lien Revenue Bonds, Series 2001B:
|
||||||||
22,000
|
0.000%, 6/15/28 (Pre-refunded 6/15/11) – AGM Insured
|
6/11 at 35.65
|
AA+ (4)
|
7,835,740
|
||||
17,650
|
0.000%, 6/15/29 (Pre-refunded 6/15/11) – AMBAC Insured
|
6/11 at 33.46
|
N/R (4)
|
5,898,983
|
||||
1,000
|
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Series 2003, 8.000%, 12/01/25
|
6/14 at 101.00
|
N/R
|
984,880
|
||||
960
|
Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31
|
6/20 at 100.00
|
Aa3
|
976,522
|
||||
83,890
|
Total Colorado
|
43,358,706
|
||||||
District of Columbia – 2.3% (1.6% of Total Investments)
|
||||||||
835
|
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.250%, 5/15/24
|
5/11 at 101.00
|
BBB
|
800,523
|
||||
4,250
|
District of Columbia, Revenue Bonds, National Public Radio, Series 2010A, 5.000%, 4/01/43
|
4/15 at 100.00
|
AA–
|
4,054,543
|
||||
5,000
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 4.500%, 10/01/30 – AMBAC Insured
|
10/16 at 100.00
|
A1
|
4,430,550
|
||||
10,085
|
Total District of Columbia
|
9,285,616
|
||||||
Florida – 5.2% (3.5% of Total Investments)
|
||||||||
15,000
|
Jacksonville, Florida, Transportation Revenue Bonds, Series 2001, 5.250%, 10/01/29 – NPFG Insured
|
10/11 at 100.00
|
Aa2
|
15,033,000
|
||||
3,000
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2002, 5.375%, 10/01/32 – FGIC Insured (Alternative Minimum Tax)
|
10/12 at 100.00
|
A2
|
2,773,710
|
||||
Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B, Series 2007:
|
||||||||
2,000
|
5.000%, 7/01/33 – NPFG Insured
|
7/17 at 100.00
|
Baa1
|
1,650,040
|
||||
1,500
|
5.000%, 7/01/40 – NPFG Insured
|
7/17 at 100.00
|
Baa1
|
1,199,055
|
||||
21,500
|
Total Florida
|
20,655,805
|
64
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Georgia – 2.1% (1.4% of Total Investments)
|
||||||||
$
|
2,000
|
DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30
|
9/20 at 100.00
|
N/R
|
$
|
1,875,980
|
||
2,000
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 8.125%, 12/01/45
|
12/20 at 100.00
|
N/R
|
1,956,340
|
||||
5,000
|
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B, 5.125%, 2/15/40
|
No Opt. Call
|
A+
|
4,588,550
|
||||
9,000
|
Total Georgia
|
8,420,870
|
||||||
Hawaii – 2.5% (1.7% of Total Investments)
|
||||||||
Honolulu Board of Water Supply, Hawaii, Water System Revenue Bonds, Series 2001:
|
||||||||
3,000
|
5.250%, 7/01/26 (Pre-refunded 7/01/11) – AGM Insured
|
7/11 at 100.00
|
AA+ (4)
|
3,025,890
|
||||
6,725
|
5.250%, 7/01/31 (Pre-refunded 7/01/11) – AGM Insured
|
7/11 at 100.00
|
AA+ (4)
|
6,783,037
|
||||
9,725
|
Total Hawaii
|
9,808,927
|
||||||
Illinois – 14.5% (9.7% of Total Investments)
|
||||||||
3,485
|
Chicago, Illinois, FHA/GNMA Collateralized Multifamily Housing Revenue Bonds, Stone Terrace Apartments, Series 2001A, 5.750%, 12/20/42 (Alternative Minimum Tax)
|
12/11 at 100.00
|
AAA
|
3,493,852
|
||||
555
|
Chicago, Illinois, FNMA/GNMA Collateralized Single Family Mortgage Revenue Bonds, Series 2001A, 6.250%, 10/01/32 (Alternative Minimum Tax)
|
10/11 at 105.00
|
AAA
|
573,609
|
||||
5,000
|
Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/34 –
|
No Opt. Call
|
Aa3
|
1,081,150
|
||||
FGIC Insured
|
||||||||
3,985
|
Chicago, Illinois, General Obligation Bonds, Series 2001A, 5.250%, 1/01/33 – NPFG Insured
|
1/12 at 100.00
|
Aa3
|
3,732,550
|
||||
7,100
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
7,120,945
|
||||
3,180
|
Illinois Development Finance Authority, Revenue Bonds, Chicago Charter School Foundation, Series 2002A, 6.250%, 12/01/32 (Pre-refunded 12/01/12)
|
12/12 at 100.00
|
N/R (4)
|
3,453,480
|
||||
910
|
Illinois Development Finance Authority, Revenue Bonds, Illinois Wesleyan University, Series 2001, 5.500%, 9/01/32 – AMBAC Insured
|
9/11 at 100.00
|
BBB+
|
841,159
|
||||
4,090
|
Illinois Development Finance Authority, Revenue Bonds, Illinois Wesleyan University, Series 2001, 5.500%, 9/01/32 (Pre-refunded 9/01/11) – AMBAC Insured
|
9/11 at 100.00
|
BBB+ (4)
|
4,157,935
|
||||
3,100
|
Illinois Development Finance Authority, Revenue Bonds, Midwestern University, Series 2001B, 6.000%, 5/15/31 (Pre-refunded 5/15/11)
|
5/11 at 101.00
|
AAA
|
3,138,440
|
||||
9,630
|
Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2007A, 5.000%, 5/15/32 – NPFG Insured
|
5/17 at 100.00
|
Baa1
|
8,435,206
|
||||
2,500
|
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38
|
8/19 at 100.00
|
BBB
|
2,488,975
|
||||
6,965
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., Refunding Series 2007A, 5.250%, 5/01/34
|
5/17 at 100.00
|
Baa3
|
5,669,789
|
||||
2,275
|
Illinois Housing Development Authority, Homeowner Mortgage Revenue Bonds, Series 2006C2, 5.050%, 8/01/27 (Alternative Minimum Tax)
|
2/16 at 100.00
|
AA
|
2,240,124
|
||||
1,535
|
Illinois, Sales Tax Revenue Bonds, Series 2001, 5.500%, 6/15/16
|
No Opt. Call
|
AAA
|
1,540,280
|
||||
740
|
Illinois, Sales Tax Revenue Bonds, Series 2001, 5.500%, 6/15/16 (Pre-refunded 6/15/11)
|
6/11 at 100.00
|
A1 (4)
|
744,921
|
||||
2,500
|
Kane & DeKalb Counties, Illinois, Community United School District 301, General Obligation Bonds, Series 2006, 0.000%, 12/01/23 – NPFG Insured
|
No Opt. Call
|
A1
|
1,249,625
|
||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:
|
||||||||
7,500
|
0.000%, 12/15/30 – NPFG Insured
|
No Opt. Call
|
AAA
|
2,211,375
|
||||
10,000
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,824,400
|
||||
1,701
|
Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2007, 4.700%, 3/01/30 – RAAI Insured
|
3/16 at 100.00
|
N/R
|
1,366,873
|
||||
3,360
|
Northfield Township High School District 225, Cook County, Illinois, Glenbrook, General Obligation School Bonds, Series 2007B, 0.000%, 12/01/24
|
12/16 at 69.01
|
AAA
|
1,728,418
|
||||
80,111
|
Total Illinois
|
57,093,106
|
Nuveen Investments
|
65
|
Nuveen Dividend Advantage Municipal Fund 2 (continued)
|
||
NXZ
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Indiana – 4.0% (2.6% of Total Investments)
|
||||||||
$
|
2,295
|
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Methodist Hospitals Inc., Series 2001, 5.500%, 9/15/31
|
9/11 at 100.00
|
BBB
|
$
|
1,872,697
|
||
1,900
|
Indiana Health Facility Financing Authority, Hospital Revenue Refunding Bonds, Columbus Regional Hospital, Series 1993, 7.000%, 8/15/15 – AGM Insured
|
No Opt. Call
|
AA+
|
2,112,743
|
||||
1,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
BBB+
|
902,010
|
||||
5,180
|
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 – NPFG Insured
|
1/17 at 100.00
|
A+
|
4,819,576
|
||||
4,000
|
Indiana Transportation Finance Authority, Highway Revenue Bonds, Series 2003A, 5.000%, 6/01/23 (Pre-refunded 6/01/13) – AGM Insured
|
6/13 at 100.00
|
AA+ (4)
|
4,365,840
|
||||
6,100
|
St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Madison Center Inc., Series 1999, 5.800%, 2/15/24 (5)
|
8/11 at 100.00
|
N/R
|
1,584,780
|
||||
20,475
|
Total Indiana
|
15,657,646
|
||||||
Iowa – 1.5% (1.0% of Total Investments)
|
||||||||
1,000
|
Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Wartburg College, Series 2002, 5.500%, 10/01/28 (Pre-refunded 10/01/12) – ACA Insured
|
10/12 at 100.00
|
N/R (4)
|
1,070,250
|
||||
6,340
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
BBB
|
5,061,856
|
||||
7,340
|
Total Iowa
|
6,132,106
|
||||||
Kansas – 4.3% (2.9% of Total Investments)
|
||||||||
17,000
|
Wichita, Kansas, Hospital Facilities Revenue Refunding and Improvement Bonds, Via Christi Health System Inc., Series 2001-III, 5.625%, 11/15/31
|
11/11 at 101.00
|
A+
|
16,989,120
|
||||
Kentucky – 0.3% (0.2% of Total Investments)
|
||||||||
1,000
|
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/38 – AGC Insured
|
6/18 at 100.00
|
AA+
|
1,013,460
|
||||
Louisiana – 5.3% (3.5% of Total Investments)
|
||||||||
3,960
|
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, 4.500%, 5/01/41 – FGIC Insured (UB)
|
5/16 at 100.00
|
Aa1
|
3,622,410
|
||||
18,825
|
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B, 5.875%, 5/15/39
|
5/11 at 101.00
|
A–
|
17,180,260
|
||||
22,785
|
Total Louisiana
|
20,802,670
|
||||||
Maryland – 0.2% (0.1% of Total Investments)
|
||||||||
1,000
|
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006, 4.500%, 11/01/36
|
11/16 at 100.00
|
BBB+
|
773,010
|
||||
Massachusetts – 0.4% (0.2% of Total Investments)
|
||||||||
1,500
|
Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare System, Series 2010J, 5.000%, 7/01/39
|
7/19 at 100.00
|
AA
|
1,411,470
|
||||
Michigan – 7.4% (5.0% of Total Investments)
|
||||||||
5,865
|
Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2003A, 5.000%, 7/01/32 – AGM Insured
|
7/13 at 100.00
|
AA+
|
5,383,659
|
||||
20,000
|
Detroit, Michigan, Senior Lien Water Supply System Revenue Bonds, Series 2001A, 5.500%, 7/01/33 (Pre-refunded 7/01/11) – FGIC Insured
|
7/11 at 101.00
|
A (4)
|
20,381,000
|
||||
4,000
|
Michigan Municipal Bond Authority, Public School Academy Revenue Bonds, Detroit Academy of Arts and Sciences Charter School, Series 2001A, 8.000%, 10/01/31
|
10/11 at 100.00
|
B1
|
3,615,000
|
||||
29,865
|
Total Michigan
|
29,379,659
|
||||||
Minnesota – 1.3% (0.9% of Total Investments)
|
||||||||
5,000
|
Minneapolis, Minnesota, Health Care System Revenue Bonds,S Fairview Health Services, Series 2008B, 6.500%, 11/15/38 – AGC Insured
|
11/18 at 100.00
|
AA+
|
5,335,400
|
||||
Montana – 0.4% (0.3% of Total Investments)
|
||||||||
1,665
|
Montana Board of Housing, Single Family Program Bonds, Series 2001A-2, 5.700%, 6/01/32 (Alternative Minimum Tax)
|
6/11 at 100.00
|
AA+
|
1,665,233
|
66
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Nevada – 1.8% (1.2% of Total Investments)
|
||||||||
$
|
12,275
|
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000, 5.375%, 1/01/40 – AMBAC Insured (5)
|
7/11 at 100.00
|
N/R
|
$
|
3,078,325
|
||
3,500
|
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, Second Tier, Series 2000, 7.375%, 1/01/40 (5)
|
1/12 at 100.00
|
N/R
|
6,125
|
||||
2,000
|
Henderson, Nevada, Healthcare Facility Revenue Refunding Bonds, Catholic Healthcare West, Series 2007B, Trust 2633, 18.765%, 7/01/31 – BHAC Insured (IF)
|
7/17 at 100.00
|
AA+
|
2,085,440
|
||||
1,750
|
Reno, Nevada, Health Facilities Revenue Bonds, Catholic Healthcare West, Series 2007A, Trust 2634, 18.488%, 7/01/31 – BHAC Insured (IF)
|
7/17 at 100.00
|
AA+
|
1,745,170
|
||||
19,525
|
Total Nevada
|
6,915,060
|
||||||
New Hampshire – 2.3% (1.5% of Total Investments)
|
||||||||
8,000
|
New Hampshire Business Finance Authority, Pollution Control Remarketed Revenue Refunding Bonds, Connecticut Light and Power Company, Series 1992A, 5.850%, 12/01/22
|
10/11 at 100.50
|
BBB+
|
8,071,120
|
||||
1,025
|
New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Series 2001A, 5.700%, 1/01/31 (Alternative Minimum Tax)
|
5/11 at 100.00
|
Aa2
|
1,025,133
|
||||
9,025
|
Total New Hampshire
|
9,096,253
|
||||||
New Jersey – 2.7% (1.8% of Total Investments)
|
||||||||
3,995
|
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000, 7.000%, 11/15/30 (Alternative Minimum Tax)
|
5/11 at 101.00
|
B
|
3,913,742
|
||||
310
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2002, 5.750%, 6/01/32 (Pre-refunded 6/01/12)
|
6/12 at 100.00
|
AAA
|
322,868
|
||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2003:
|
||||||||
2,200
|
6.375%, 6/01/32 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
2,418,174
|
||||
425
|
6.750%, 6/01/39 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
478,206
|
||||
3,085
|
6.250%, 6/01/43 (Pre-refunded 6/01/13)
|
6/13 at 100.00
|
AAA
|
3,439,281
|
||||
10,015
|
Total New Jersey
|
10,572,271
|
||||||
New Mexico – 5.9% (3.9% of Total Investments)
|
||||||||
New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare Services, Series 2001A:
|
||||||||
12,000
|
5.500%, 8/01/25 (Pre-refunded 8/01/11)
|
8/11 at 101.00
|
AA– (4)
|
12,281,160
|
||||
10,800
|
5.500%, 8/01/30 (Pre-refunded 8/01/11)
|
8/11 at 101.00
|
AA– (4)
|
11,053,044
|
||||
22,800
|
Total New Mexico
|
23,334,204
|
||||||
New York – 8.0% (5.4% of Total Investments)
|
||||||||
12,020
|
Brooklyn Areba Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 0.000%, 7/15/46
|
No Opt. Call
|
BBB–
|
980,832
|
||||
12,800
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2006B, 4.500%, 11/15/32 – AGM Insured (UB)
|
11/16 at 100.00
|
AA+
|
11,945,472
|
||||
5,000
|
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, JFK Airport – American Airlines Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax)
|
8/12 at 101.00
|
B–
|
5,109,200
|
||||
12,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Fiscal Series 2001C, 5.125%, 6/15/33 (UB)
|
7/11 at 101.00
|
AAA
|
12,051,480
|
||||
1,670
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010, 6.000%, 12/01/36
|
12/20 at 100.00
|
BBB–
|
1,622,104
|
||||
43,490
|
Total New York
|
31,709,088
|
||||||
North Carolina – 0.7% (0.4% of Total Investments)
|
||||||||
2,950
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Johnson and Wales University, Series 2003A, 5.000%, 4/01/33 – SYNCORA GTY Insured
|
4/13 at 100.00
|
N/R
|
2,664,234
|
||||
North Dakota – 0.3% (0.2% of Total Investments)
|
||||||||
1,025
|
North Dakota Housing Finance Agency, Home Mortgage Finance Program Refunding Bonds, Series 2001A, 5.550%, 1/01/32 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aa1
|
1,027,768
|
Nuveen Investments
|
67
|
Nuveen Dividend Advantage Municipal Fund 2 (continued)
|
||
NXZ
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Ohio – 1.9% (1.3% of Total Investments)
|
||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||
$
|
10,000
|
5.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
$
|
6,890,000
|
||
1,000
|
5.875%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
674,690
|
||||
11,000
|
Total Ohio
|
7,564,690
|
||||||
Oklahoma – 0.9% (0.6% of Total Investments)
|
||||||||
3,500
|
Grand River Dam Authority, Oklahoma, Revenue Bonds, Series 2010A, 5.250%, 6/01/40
|
6/20 at 100.00
|
A
|
3,527,510
|
||||
Oregon – 1.3% (0.8% of Total Investments)
|
||||||||
5,000
|
Oregon Department of Administrative Services, Certificates of Participation, Series 2001D, 5.000%, 5/01/26 – AMBAC Insured
|
11/11 at 101.00
|
AA
|
5,036,750
|
||||
Puerto Rico – 3.2% (2.2% of Total Investments)
|
||||||||
2,500
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
2,504,550
|
||||
9,310
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41
|
8/20 at 100.00
|
A+
|
8,411,678
|
||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
||||||||
30,000
|
0.000%, 8/01/54 – AMBAC Insured
|
No Opt. Call
|
Aa2
|
1,562,100
|
||||
6,150
|
0.000%, 8/01/56
|
No Opt. Call
|
Aa2
|
279,825
|
||||
47,960
|
Total Puerto Rico
|
12,758,153
|
||||||
South Carolina – 1.7% (1.2% of Total Investments)
|
||||||||
21,570
|
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2, 0.000%, 1/01/30 – AMBAC Insured
|
No Opt. Call
|
A–
|
6,935,402
|
||||
Texas – 25.0% (16.7% of Total Investments)
|
||||||||
10,000
|
Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds, Series 2005, 5.000%, 1/01/45 – FGIC Insured
|
1/15 at 100.00
|
BBB
|
7,792,000
|
||||
Dallas-Fort Worth International Airport Public Facility Corporation, Texas, Airport Hotel Revenue Bonds, Series 2001:
|
||||||||
15,000
|
5.250%, 1/15/26 – AGM Insured
|
7/11 at 100.00
|
AA+
|
15,007,950
|
||||
1,750
|
5.200%, 1/15/31 – AGM Insured
|
7/11 at 100.00
|
AA+
|
1,750,158
|
||||
6,000
|
Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2004A, 7.125%, 9/01/34
|
9/14 at 100.00
|
N/R
|
5,673,060
|
||||
10,000
|
Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1998, 8.000%, 4/01/28 (Alternative Minimum Tax)
|
4/12 at 100.00
|
Ba2
|
10,063,700
|
||||
1,715
|
Harris County-Houston Sports Authority, Texas, Junior Lien Revenue Bonds, Series 2001H, 0.000%, 11/15/37 – NPFG Insured
|
11/31 at 69.08
|
Baa1
|
167,847
|
||||
31,170
|
Harris County-Houston Sports Authority, Texas, Junior Lien Revenue Refunding Bonds, Series 2001B, 5.250%, 11/15/40 – NPFG Insured
|
11/11 at 100.00
|
Baa1
|
22,594,510
|
||||
4,465
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004-A3, 0.000%, 11/15/35 – NPFG Insured
|
11/24 at 52.47
|
Baa1
|
520,619
|
||||
40,000
|
Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Refunding Bonds, Series 2001A, 0.000%, 11/15/40 – NPFG Insured
|
11/30 at 54.04
|
Baa1
|
3,185,600
|
||||
Hays Consolidated Independent School District, Hays County, Texas, General Obligation School Building Bonds, Series 2001:
|
||||||||
10,715
|
0.000%, 8/15/25 (Pre-refunded 8/15/11)
|
8/11 at 43.18
|
AAA
|
4,620,094
|
||||
12,940
|
0.000%, 8/15/26 (Pre-refunded 8/15/11)
|
8/11 at 40.60
|
AAA
|
5,247,041
|
||||
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:
|
||||||||
5,000
|
0.000%, 9/01/30 – AMBAC Insured
|
No Opt. Call
|
A2
|
1,339,050
|
||||
5,540
|
0.000%, 9/01/31 – AMBAC Insured
|
No Opt. Call
|
A2
|
1,375,083
|
||||
10,000
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008D, 0.000%, 1/01/28 – AGC Insured
|
No Opt. Call
|
AA+
|
3,584,100
|
||||
3,295
|
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds, Series 2007, Residuals 1760-3, 16.974%, 2/15/36 (IF)
|
2/17 at 100.00
|
AA–
|
2,158,489
|
||||
2,890
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White HealthCare Project, Series 2010, 5.500%, 8/15/45
|
8/20 at 100.00
|
A1
|
2,753,043
|
68
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Texas (continued)
|
||||||||
$
|
1,000
|
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/28 – AMBAC Insured
|
8/12 at 39.43
|
BBB+
|
$
|
305,270
|
||
10,500
|
Texas, General Obligation Bonds, Water Financial Assistance Program, Series 2001, 5.250%, 8/01/35
|
8/11 at 100.00
|
Aaa
|
10,571,820
|
||||
181,980
|
Total Texas
|
98,709,434
|
||||||
Virginia – 0.4% (0.3% of Total Investments)
|
||||||||
1,500
|
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2001H-1, 5.375%, 7/01/36 – NPFG Insured
|
7/11 at 100.00
|
AAA
|
1,500,734
|
||||
Washington – 2.7% (1.8% of Total Investments)
|
||||||||
2,500
|
Washington State Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.500%, 12/01/39
|
12/20 at 100.00
|
Baa2
|
2,103,500
|
||||
7,500
|
Washington State Health Care Facilities Authority, Revenue Bonds, Sisters of Providence Health System, Series 2001A, 5.250%, 10/01/21 – NPFG Insured
|
10/11 at 100.00
|
AA
|
7,608,225
|
||||
855
|
Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2002, 6.500%, 6/01/26
|
6/13 at 100.00
|
BBB
|
862,001
|
||||
10,855
|
Total Washington
|
10,573,726
|
||||||
West Virginia – 2.0% (1.3% of Total Investments)
|
||||||||
5,000
|
Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 5.500%, 10/01/22 (Mandatory put 10/01/11)
|
10/11 at 100.00
|
BBB
|
5,020,000
|
||||
2,950
|
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company Project, Series 2010, 5.375%, 12/01/38
|
12/20 at 100.00
|
BBB
|
2,801,614
|
||||
7,950
|
Total West Virginia
|
7,821,614
|
||||||
Wisconsin – 0.3% (0.2% of Total Investments)
|
||||||||
1,000
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Divine Savior Healthcare, Series 2002A, 7.375%, 5/01/26 (Pre-refunded 5/01/12)
|
5/12 at 100.00
|
N/R (4)
|
1,068,329
|
||||
$
|
859,386
|
Total Investments (cost $618,711,664) – 149.7%
|
591,162,570
|
|||||
Floating Rate Obligations – (6.8)%
|
(26,660,000
|
)
|
||||||
Variable Rate Demand Preferred Shares, at Liquidation Value – (49.6)% (6)
|
(196,000,000
|
)
|
||||||
Other Assets Less Liabilities – 6.7%
|
26,451,056
|
|||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
394,953,626
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Such investments are normally considered to be equivalent to AAA rated securities.
|
|
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
|
(6)
|
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments are 33.2%.
|
|
N/R
|
Not rated.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
69
|
Nuveen Dividend Advantage Municipal Fund 3
|
||
NZF
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Municipal Bonds – 149.0% (99.0% of Total Investments)
|
||||||||
Alabama – 1.7% (1.1% of Total Investments)
|
||||||||
$
|
3,500
|
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series 2006C-2, 5.000%, 11/15/36 (UB)
|
11/16 at 100.00
|
AA+
|
$
|
3,384,745
|
||
5,655
|
Alabama State Port Authority, Revenue Bonds, State Docks Department Facilities, Series 2001, 5.250%, 10/01/26 (Pre-refunded 10/01/11) – AMBAC Insured (Alternative Minimum Tax)
|
10/11 at 100.00
|
BBB (4)
|
5,762,388
|
||||
9,155
|
Total Alabama
|
9,147,133
|
||||||
Alaska – 0.1% (0.1% of Total Investments)
|
||||||||
1,000
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46
|
6/14 at 100.00
|
Baa3
|
595,359
|
||||
Arizona – 1.0% (0.7% of Total Investments)
|
||||||||
3,390
|
Arizona State Transportation Board, Highway Revenue Bonds, Series 2006, Trust 3151, 13.409%, 7/01/16 (IF)
|
No Opt. Call
|
AAA
|
3,652,895
|
||||
2,200
|
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
|
No Opt. Call
|
A
|
1,830,685
|
||||
5,590
|
Total Arizona
|
5,483,580
|
||||||
Arkansas – 0.7% (0.5% of Total Investments)
|
||||||||
Sebastian County Health Facilities Board, Arkansas, Hospital Revenue Improvement Bonds, Sparks Regional Medical Center, Series 2001A:
|
||||||||
1,805
|
5.500%, 11/01/13 (Pre-refunded 11/01/11)
|
11/11 at 101.00
|
N/R (4)
|
1,869,365
|
||||
1,900
|
5.500%, 11/01/14 (Pre-refunded 11/01/11)
|
11/11 at 101.00
|
N/R (4)
|
1,967,754
|
||||
3,705
|
Total Arkansas
|
3,837,119
|
||||||
California – 12.3% (8.2% of Total Investments)
|
||||||||
California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist Health System/West, Series 2003A:
|
||||||||
2,175
|
5.000%, 3/01/28
|
3/13 at 100.00
|
A
|
2,029,253
|
||||
140
|
5.000%, 3/01/33
|
3/13 at 100.00
|
A
|
125,104
|
||||
3,400
|
California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2009B, 5.500%, 10/01/39
|
10/19 at 100.00
|
AA
|
3,390,140
|
||||
2,900
|
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.000%, 11/15/42 (UB)
|
11/16 at 100.00
|
AA–
|
2,495,102
|
||||
5,000
|
California Infrastructure Economic Development Bank, Revenue Bonds, Kaiser Hospital Assistance LLC, Series 2001A, 5.550%, 8/01/31
|
8/11 at 102.00
|
A+
|
4,822,850
|
||||
5,355
|
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 3175, 13.619%, 5/15/14 (IF)
|
No Opt. Call
|
AA–
|
4,934,472
|
||||
20
|
California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.350%, 12/01/21 – NPFG Insured (Alternative Minimum Tax)
|
6/11 at 100.00
|
AA
|
20,011
|
||||
Ceres Unified School District, Stanislaus County, California, General Obligation Bonds, Series 2002B:
|
||||||||
2,180
|
0.000%, 8/01/31 – FGIC Insured
|
8/12 at 32.87
|
A+
|
526,405
|
||||
3,300
|
0.000%, 8/01/32 – FGIC Insured
|
8/12 at 30.97
|
A+
|
724,779
|
||||
11,865
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
7,239,430
|
||||
7,150
|
Grossmont Healthcare District, California, General Obligation Bonds, Series 2011B, 6.125%, 7/15/40
|
7/21 at 100.00
|
Aa2
|
7,532,025
|
||||
Los Angeles Regional Airports Improvement Corporation, California, Lease Revenue Refunding Bonds, LAXFUEL Corporation at Los Angeles International Airport, Series 2001:
|
||||||||
10,510
|
5.750%, 1/01/16 – AMBAC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
A–
|
10,640,955
|
||||
5,000
|
5.375%, 1/01/21 – AMBAC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
A–
|
5,005,150
|
||||
1,500
|
5.250%, 1/01/23 – AMBAC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
A–
|
1,462,215
|
||||
10,000
|
5.500%, 1/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
A–
|
8,824,100
|
||||
12,000
|
Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/40
|
8/30 at 100.00
|
A+
|
6,577,080
|
70
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
California (continued)
|
||||||||
$
|
10,000
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A, 0.000%, 1/15/35 – NPFG Insured
|
No Opt. Call
|
Baa1
|
$
|
1,025,300
|
||
3,000
|
San Mateo County Community College District, California, General Obligation Bonds, Series 2006C, 0.000%, 9/01/30 – NPFG Insured
|
No Opt. Call
|
Aaa
|
925,590
|
||||
95,495
|
Total California
|
68,299,961
|
||||||
Colorado – 6.3% (4.2% of Total Investments)
|
||||||||
2,250
|
Canterberry Crossing Metropolitan District II, Parker, Colorado, Limited Tax General Obligation Bonds, Series 2002, 7.375%, 12/01/32 (Pre-refunded 12/01/12)
|
12/12 at 100.00
|
N/R (4)
|
2,458,418
|
||||
1,535
|
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Belle Creek Education Center, Series 2002A, 7.625%, 3/15/32 (Pre-refunded 3/15/13)
|
3/13 at 100.00
|
N/R (4)
|
1,704,940
|
||||
1,775
|
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Weld County School District 6 – Frontier Academy, Series 2001, 7.375%, 6/01/31 Pre-refunded 6/01/11)
|
6/11 at 100.00
|
Ba1 (4)
|
1,785,952
|
||||
3,090
|
Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Montessori Peaks Academy, Series 2006A, 5.400%, 5/01/26
|
5/16 at 102.00
|
N/R
|
2,535,530
|
||||
3,380
|
Colorado Housing Finance Authority, Multifamily Project Bonds, Class I, Series 2001A-1, 5.500%, 4/01/31 (Alternative Minimum Tax)
|
10/11 at 100.00
|
AAA
|
3,380,642
|
||||
5,000
|
Compark Business Campus Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2007A, 5.600%, 12/01/34 – RAAI Insured
|
12/17 at 100.00
|
N/R
|
3,803,900
|
||||
Denver City and County, Colorado, Airport Revenue Bonds, Series 2006:
|
||||||||
5,365
|
5.000%, 11/15/23 – FGIC Insured
|
11/16 at 100.00
|
A+
|
5,594,354
|
||||
3,300
|
5.000%, 11/15/24 – FGIC Insured
|
11/16 at 100.00
|
A+
|
3,417,579
|
||||
4,335
|
5.000%, 11/15/25 – FGIC Insured
|
11/16 at 100.00
|
A+
|
4,459,501
|
||||
2,000
|
Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001A, 5.500%, 11/15/16 – FGIC Insured (Alternative Minimum Tax)
|
11/11 at 100.00
|
A+
|
2,038,620
|
||||
Maher Ranch Metropolitan District 4, Colorado, General Obligation Limited Tax Bonds, Series 2007:
|
||||||||
950
|
5.125%, 12/01/27 – RAAI Insured
|
12/17 at 100.00
|
N/R
|
785,688
|
||||
2,000
|
5.250%, 12/01/36 – RAAI Insured
|
12/17 at 100.00
|
N/R
|
1,524,140
|
||||
1,000
|
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Series 2003, 8.000%, 12/01/25
|
6/14 at 101.00
|
N/R
|
984,880
|
||||
630
|
Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31
|
6/20 at 100.00
|
Aa3
|
640,842
|
||||
36,610
|
Total Colorado
|
35,114,986
|
||||||
Delaware – 0.1% (0.1% of Total Investments)
|
||||||||
520
|
Delaware State Housing Authority, Multifamily Mortgage Revenue Bonds, Series 2001A, 5.400%, 7/01/24
|
7/12 at 100.00
|
N/R
|
536,915
|
||||
District of Columbia – 0.7% (0.5% of Total Investments)
|
||||||||
1,335
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Tender Option Bond Trust 1606, 11.376%, 10/01/30 – AMBAC Insured (IF)
|
10/16 at 100.00
|
AA+
|
1,107,796
|
||||
3,335
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Tender Option Bond Trust 1730, 11.352%, 10/01/30 – AMBAC Insured (IF)
|
10/16 at 100.00
|
AA+
|
2,767,415
|
||||
4,670
|
Total District of Columbia
|
3,875,211
|
||||||
Florida – 1.6% (1.1% of Total Investments)
|
||||||||
Orange County Housing Finance Authority, Florida, Multifamily Housing Revenue Bonds, Oak Glen Apartments, Series 2001G:
|
||||||||
1,105
|
5.400%, 12/01/32 – AGM Insured
|
12/11 at 100.00
|
AA+
|
1,099,365
|
||||
2,195
|
5.450%, 12/01/41 – AGM Insured
|
12/11 at 100.00
|
AA+
|
2,140,673
|
||||
5,455
|
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007, 5.000%, 8/15/42 (UB)
|
8/17 at 100.00
|
AA
|
4,863,733
|
||||
1,000
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2007, 6.650%, 5/01/40
|
5/18 at 100.00
|
N/R
|
668,830
|
||||
9,755
|
Total Florida
|
8,772,601
|
Nuveen Investments
|
71
|
Nuveen Dividend Advantage Municipal Fund 3 (continued)
|
||
NZF
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Georgia – 5.6% (3.8% of Total Investments)
|
||||||||
$
|
5,000
|
Atlanta, Georgia, Airport General Revenue Bonds, Series 2000B, 5.625%,
1/01/30 – FGIC Insured (Alternative Minimum Tax) |
7/11 at 100.50
|
A+
|
$
|
5,008,050
|
||
15,000
|
Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2010C, 5.250%, 1/01/30
|
1/21 at 100.00
|
A1
|
15,146,099
|
||||
2,700
|
Atlanta, Georgia, Tax Allocation Bonds, Atlantic Station Project, Series 2001, 7.900%, 12/01/24 (Pre-refunded 12/01/11)
|
12/11 at 101.00
|
AAA
|
2,848,122
|
||||
3,000
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 8.125%, 12/01/45
|
12/20 at 100.00
|
N/R
|
2,934,510
|
||||
2,000
|
Fulton County Residential Care Facilities Authority, Georgia, Revenue Bonds, Elderly Care, Lenbrook Square Project, Series 2006A, 5.125%, 7/01/42
|
7/17 at 100.00
|
N/R
|
1,205,840
|
||||
3,740
|
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2001, 5.500%, 5/15/31 (Pre-refunded 5/15/11)
|
5/11 at 100.00
|
N/R (4)
|
3,748,602
|
||||
500
|
Gainesville Redevelopment Authority, Georgia, Educational Facilities Revenue Bonds, Riverside Military Academy Project, Series 2007, 5.125%, 3/01/37
|
3/17 at 100.00
|
N/R
|
358,200
|
||||
31,940
|
Total Georgia
|
31,249,423
|
||||||
Illinois – 16.5% (10.9% of Total Investments)
|
||||||||
8,375
|
Chicago, Illinois, Revenue Bonds, Midway Airport, Series 2001A, 5.500%,
1/01/19 – AGM Insured (Alternative Minimum Tax) |
1/12 at 100.00
|
AA+
|
8,436,220
|
||||
4,950
|
Chicago, Illinois, Second Lien Passenger Facility Charge Revenue Bonds, O’Hare International Airport, Series 2001A, 5.375%, 1/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
7/11 at 101.00
|
A2
|
4,588,601
|
||||
2,220
|
Chicago, Illinois, Second Lien Wastewater Transmission Revenue Bonds, Series 2001A, 5.500%, 1/01/16 – NPFG Insured
|
No Opt. Call
|
Aa3
|
2,501,429
|
||||
10,000
|
Chicago, Illinois, Senior Lien Water Revenue Bonds, Series 2001, 5.000%, 11/01/26 (Pre-refunded 11/01/11) – AMBAC Insured
|
11/11 at 100.00
|
Aa2 (4)
|
10,237,700
|
||||
1,165
|
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2005A, 5.000%, 1/01/33 – FGIC Insured
|
1/16 at 100.00
|
A1
|
1,082,623
|
||||
8,875
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
8,901,181
|
||||
2,415
|
Illinois Finance Authority, General Obligation Debt Certificates, Local Government Program – Kankakee County, Series 2005B, 5.000%, 12/01/24 – AMBAC Insured
|
12/14 at 100.00
|
A2
|
2,420,868
|
||||
3,465
|
Illinois Finance Authority, Revenue Bonds, Sherman Health Systems, Series 2007A, 5.500%, 8/01/37
|
8/17 at 100.00
|
BBB
|
2,984,405
|
||||
9,000
|
Illinois Health Facilities Authority, Revenue Bonds, Covenant Retirement Communities Inc., Series 2001, 5.875%, 12/01/31
|
12/11 at 101.00
|
BBB–
|
8,346,690
|
||||
15,000
|
Illinois Health Facilities Authority, Revenue Bonds, Loyola University Health System, Series 2001A, 6.125%, 7/01/31 (Pre-refunded 7/01/11)
|
7/11 at 100.00
|
Baa3 (4)
|
15,147,750
|
||||
5,000
|
Lake County School District 38, Big Hallow, Illinois, General Obligation Bonds, Series 2005, 0.000%, 2/01/22 – AMBAC Insured
|
No Opt. Call
|
N/R
|
2,482,750
|
||||
7,000
|
Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-1, 7.125%, 1/01/36
|
1/16 at 100.00
|
N/R
|
4,684,540
|
||||
12,000
|
Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2010A, 5.500%, 6/15/50
|
6/20 at 100.00
|
AAA
|
11,191,560
|
||||
45,000
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1, 0.000%, 6/15/43 – AGM Insured
|
No Opt. Call
|
AAA
|
5,201,550
|
||||
2,790
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1998A, 5.500%, 6/15/29 – FGIC Insured
|
No Opt. Call
|
AAA
|
2,904,669
|
||||
137,255
|
Total Illinois
|
91,112,536
|
||||||
Indiana – 6.0% (4.0% of Total Investments)
|
||||||||
Clark-Pleasant Community School Building Corporation, Indiana, First Mortgage Bonds, Series 2001:
|
||||||||
1,255
|
5.000%, 7/15/21 (Pre-refunded 1/15/12) – AMBAC Insured
|
1/12 at 100.00
|
AA+ (4)
|
1,296,189
|
||||
1,000
|
5.000%, 1/15/26 (Pre-refunded 1/15/12) – AMBAC Insured
|
1/12 at 100.00
|
AA+ (4)
|
1,032,820
|
||||
Evansville Vanderburgh Public Library Lease Corporation, Indiana, First Mortgage Bonds, Series 2001:
|
||||||||
2,000
|
5.750%, 7/15/18 (Pre-refunded 1/15/12) – NPFG Insured
|
1/12 at 100.00
|
A+ (4)
|
2,077,760
|
||||
2,750
|
5.125%, 1/15/24 (Pre-refunded 1/15/12) – NPFG Insured
|
1/12 at 100.00
|
A+ (4)
|
2,844,710
|
72
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Indiana (continued)
|
||||||||
$
|
1,250
|
Hamilton Southeastern Cumberland Campus School Building Corporation, Indiana, First Mortgage Bonds, Series 2001, 5.125%, 1/15/23 (Pre-refunded 1/15/12) – AMBAC Insured
|
1/12 at 100.00
|
A (4)
|
$
|
1,293,050
|
||
9,500
|
Indiana Educational Facilities Authority, Revenue Bonds, Butler University, Series 2001, 5.500%, 2/01/26 – NPFG Insured
|
8/11 at 100.00
|
Baa1
|
9,518,810
|
||||
4,230
|
Indiana Finance Authority, Educational Facilities Revenue Bonds, Tudor Park Foundation, Series 2005B, 5.000%, 6/01/24
|
6/15 at 100.00
|
Aa3
|
4,346,663
|
||||
2,600
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Hospitals of Indiana, Series 2005A, 5.000%, 5/01/35 – AMBAC Insured
|
5/15 at 100.00
|
A
|
2,277,470
|
||||
3,500
|
University of Southern Indiana, Student Fee Revenue Bonds, Series 2001H, 5.000%, 10/01/21 – AMBAC Insured
|
10/11 at 100.00
|
A1
|
3,518,970
|
||||
Vigo County Hospital Authority, Indiana, Revenue Bonds, Union Hospital, Series 2007:
|
||||||||
2,500
|
5.750%, 9/01/42
|
9/17 at 100.00
|
N/R
|
1,874,775
|
||||
2,500
|
5.800%, 9/01/47
|
9/17 at 100.00
|
N/R
|
1,859,250
|
||||
1,090
|
Wayne County Jail Holding Corporation, Indiana, First Mortgage Bonds, Series 2001, 5.500%, 7/15/22 (Pre-refunded 1/15/13) – AMBAC Insured
|
1/13 at 101.00
|
A1 (4)
|
1,192,547
|
||||
34,175
|
Total Indiana
|
33,133,014
|
||||||
Iowa – 5.5% (3.7% of Total Investments)
|
||||||||
2,000
|
Iowa Finance Authority, Healthcare Revenue Bonds, Great River Medical Center, Series 2001, 5.250%, 5/15/31 – AGM Insured
|
5/11 at 100.00
|
Aa3
|
1,943,220
|
||||
1,000
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.625%, 6/01/46
|
6/15 at 100.00
|
BBB
|
674,360
|
||||
Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2001B:
|
||||||||
23,665
|
5.300%, 6/01/25 (Pre-refunded 6/01/11)
|
6/11 at 101.00
|
AAA
|
23,999,150
|
||||
3,950
|
5.600%, 6/01/35 (Pre-refunded 6/01/11)
|
6/11 at 101.00
|
AAA
|
4,008,105
|
||||
30,615
|
Total Iowa
|
30,624,835
|
||||||
Kansas – 0.3% (0.2% of Total Investments)
|
||||||||
Manhattan Health Care Facility Revenue Bonds, Kansas, Meadowlarks Hills Retirement, Series 2007B:
|
||||||||
1,000
|
5.125%, 5/15/37
|
5/14 at 103.00
|
N/R
|
750,570
|
||||
1,000
|
5.125%, 5/15/42
|
5/14 at 103.00
|
N/R
|
733,900
|
||||
2,000
|
Total Kansas
|
1,484,470
|
||||||
Kentucky – 3.6% (2.4% of Total Investments)
|
||||||||
1,000
|
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/42 – AGC Insured
|
6/18 at 100.00
|
AA+
|
1,014,040
|
||||
18,500
|
Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Series 2001A, 5.125%, 5/15/27 – NPFG Insured
|
11/11 at 101.00
|
AA–
|
18,756,595
|
||||
19,500
|
Total Kentucky
|
19,770,635
|
||||||
Louisiana – 4.6% (3.0% of Total Investments)
|
||||||||
3,000
|
Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32
|
11/17 at 100.00
|
BBB–
|
3,064,080
|
||||
3,700
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A, 5.500%, 5/15/47
|
5/17 at 100.00
|
Baa1
|
3,080,287
|
||||
20,890
|
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B, 5.875%, 5/15/39
|
5/11 at 101.00
|
A–
|
19,064,841
|
||||
27,590
|
Total Louisiana
|
25,209,208
|
||||||
Maine – 0.2% (0.1% of Total Investments)
|
||||||||
1,075
|
Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2001B, 5.500%, 11/15/32 (Alternative Minimum Tax)
|
5/11 at 100.00
|
AA+
|
1,074,946
|
Nuveen Investments
|
73
|
Nuveen Dividend Advantage Municipal Fund 3 (continued)
|
||
NZF
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Maryland – 2.6% (1.7% of Total Investments)
|
||||||||
$
|
1,000
|
Howard County, Maryland, Retirement Community Revenue Bonds, Vantage House, Series 2007B, 5.250%, 4/01/37
|
4/17 at 100.00
|
N/R
|
$
|
664,410
|
||
1,570
|
Maryland Community Development Administration, Insured Multifamily Housing Mortgage Loan Revenue Bonds, Series 2001B, 5.250%, 7/01/21 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aa2
|
1,571,664
|
||||
2,000
|
Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference Center, Series 2006A, 5.000%, 12/01/31
|
12/16 at 100.00
|
N/R
|
1,210,140
|
||||
10,600
|
Maryland Energy Financing Administration, Revenue Bonds, AES Warrior Run Project, Series 1995, 7.400%, 9/01/19 (Alternative Minimum Tax)
|
7/11 at 100.00
|
N/R
|
10,598,622
|
||||
555
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge Retirement Community, Series 2007, 4.750%, 7/01/34
|
7/17 at 100.00
|
A–
|
478,660
|
||||
15,725
|
Total Maryland
|
14,523,496
|
||||||
Massachusetts – 3.0% (2.0% of Total Investments)
|
||||||||
1,375
|
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 5.250%, 10/01/26
|
10/12 at 102.00
|
N/R
|
1,107,851
|
||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milton Hospital Project, Series 2005D, 5.250%, 7/01/30
|
7/15 at 100.00
|
BB–
|
769,660
|
||||
1,600
|
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39
|
7/19 at 100.00
|
BBB
|
1,517,728
|
||||
4,700
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2008, Trust 3145, 15.250%, 6/01/16 (IF)
|
No Opt. Call
|
AA
|
5,425,304
|
||||
5,000
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A, 5.500%, 1/01/18 – AMBAC Insured (Alternative Minimum Tax)
|
7/11 at 101.00
|
N/R
|
4,555,300
|
||||
3,465
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2007A, 4.500%, 8/01/46 – AGM Insured (UB) (7)
|
2/17 at 100.00
|
AA+
|
3,166,733
|
||||
17,140
|
Total Massachusetts
|
16,542,576
|
||||||
Michigan – 9.3% (6.2% of Total Investments)
|
||||||||
15,000
|
Detroit City School District, Wayne County, Michigan, Unlimited Tax School Building and Site Improvement Bonds, Series 2001A, 6.000%, 5/01/29 – AGM Insured (UB)
|
No Opt. Call
|
AA+
|
15,373,050
|
||||
2,000
|
Garden City Hospital Finance Authority, Michigan, Revenue Bonds, Garden City Hospital Obligated Group, Series 2007A, 5.000%, 8/15/38
|
8/17 at 100.00
|
N/R
|
1,255,280
|
||||
11,000
|
Kent Hospital Finance Authority, Michigan, Revenue Bonds, Spectrum Health, Series 2001A, 5.500%, 1/15/31 (Pre-refunded 7/15/11)
|
7/11 at 101.00
|
AA (4)
|
11,229,130
|
||||
1,165
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2001I, 5.500%, 10/15/18
|
10/11 at 100.00
|
Aa3
|
1,184,281
|
||||
70
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2001I, 5.500%, 10/15/18 (Pre-refunded 10/15/11)
|
10/11 at 100.00
|
A+ (4)
|
71,642
|
||||
3,210
|
Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Sisters of Mercy Health Corporation, Series 1993P, 5.375%, 8/15/14 – NPFG Insured (ETM)
|
No Opt. Call
|
BBB (4)
|
3,419,132
|
||||
Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Sparrow Obligated Group, Series 2001:
|
||||||||
1,400
|
5.500%, 11/15/21 (Pre-refunded 11/15/11)
|
11/11 at 101.00
|
A+ (4)
|
1,452,962
|
||||
2,500
|
5.625%, 11/15/31 (Pre-refunded 11/15/11)
|
11/11 at 101.00
|
A+ (4)
|
2,596,250
|
||||
3,500
|
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2006A, 5.000%, 12/01/31 (UB)
|
12/16 at 100.00
|
AA
|
3,281,670
|
||||
12,640
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Series 2001M, 5.250%, 11/15/31 – NPFG Insured
|
11/11 at 100.00
|
A1
|
11,363,486
|
||||
52,485
|
Total Michigan
|
51,226,883
|
||||||
Minnesota – 1.3% (0.8% of Total Investments)
|
||||||||
2,200
|
Dakota County Community Development Agency, Minnesota, GNMA Collateralized Multifamily Housing Revenue Bonds, Rose Apartments Project, Series 2001, 6.350%, 10/20/37 (Alternative Minimum Tax)
|
10/11 at 105.00
|
Aaa
|
2,241,580
|
||||
3,000
|
Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D, 5.000%, 8/01/18
|
No Opt. Call
|
AAA
|
3,564,570
|
74
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Minnesota (continued)
|
||||||||
$
|
1,375
|
Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/36
|
8/16 at 100.00
|
N/R
|
$
|
1,148,854
|
||
6,575
|
Total Minnesota
|
6,955,004
|
||||||
Mississippi – 0.9% (0.6% of Total Investments)
|
||||||||
2,155
|
Mississippi Business Finance Corporation, GNMA Collateralized Retirement Facility Mortgage Revenue Refunding Bonds, Aldersgate Retirement Community Inc. Project, Series 1999A, 5.450%, 5/20/34
|
5/11 at 101.00
|
AAA
|
2,150,712
|
||||
3,000
|
Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2004B-1, 5.000%, 9/01/24 (UB)
|
9/14 at 100.00
|
AA
|
3,043,980
|
||||
5,155
|
Total Mississippi
|
5,194,692
|
||||||
Missouri – 3.0% (2.0% of Total Investments)
|
||||||||
1,495
|
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeast Missouri Hospital Association, Series 2007, 5.000%, 6/01/36
|
6/17 at 100.00
|
N/R
|
1,264,755
|
||||
1,000
|
Clinton County Industrial Development Authority, Missouri, Revenue Bonds, Cameron Regional Medical Center, Series 2007, 5.000%, 12/01/32
|
12/17 at 100.00
|
N/R
|
698,590
|
||||
1,825
|
Fenton, Missouri, Tax Increment Refunding and Improvement Revenue Bonds, Gravois Bluffs Redevelopment Project, Series 2002, 6.125%, 10/01/21 (Pre-refunded 10/01/12)
|
10/12 at 100.00
|
N/R (4)
|
1,960,926
|
||||
Missouri Development Finance Board, Cultural Facilities Revenue Bonds, Nelson Gallery Foundation, Series 2001A:
|
||||||||
3,335
|
5.250%, 12/01/19 (Pre-refunded 12/01/11) – NPFG Insured
|
12/11 at 100.00
|
AA– (4)
|
3,431,215
|
||||
3,510
|
5.250%, 12/01/20 (Pre-refunded 12/01/11) – NPFG Insured
|
12/11 at 100.00
|
AA– (4)
|
3,611,264
|
||||
3,695
|
5.250%, 12/01/21 (Pre-refunded 12/01/11) – NPFG Insured
|
12/11 at 100.00
|
AA– (4)
|
3,801,601
|
||||
2,040
|
5.250%, 12/01/22 (Pre-refunded 12/01/11) – NPFG Insured
|
12/11 at 100.00
|
AA– (4)
|
2,098,854
|
||||
16,900
|
Total Missouri
|
16,867,205
|
||||||
Montana – 0.9% (0.6% of Total Investments)
|
||||||||
5,000
|
Montana Board of Investments, Exempt Facility Revenue Bonds, Stillwater Mining Company, Series 2000, 8.000%, 7/01/20 (Alternative Minimum Tax)
|
7/11 at 100.50
|
B+
|
5,008,650
|
||||
Nebraska – 1.1% (0.7% of Total Investments)
|
||||||||
4,525
|
Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2010A, 6.050%, 9/01/41
|
9/20 at 100.00
|
AAA
|
4,632,469
|
||||
1,005
|
Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska City 2, Series 2006A, Trust 11673, 19.815%, 8/01/40 – AMBAC Insured (IF)
|
2/17 at 100.00
|
AA+
|
1,328,711
|
||||
5,530
|
Total Nebraska
|
5,961,180
|
||||||
Nevada – 3.8% (2.5% of Total Investments)
|
||||||||
10,000
|
Clark County, Nevada, Airport Revenue Bonds, Subordinte Lien Series 2010B, 5.750%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
10,107,900
|
||||
6,000
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
Aa3
|
5,591,460
|
||||
2,000
|
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000, 5.375%, 1/01/40 – AMBAC Insured (5)
|
7/11 at 100.00
|
N/R
|
501,560
|
||||
4,000
|
Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, Second Tier, Series 2000, 7.375%, 1/01/40 (5)
|
1/12 at 100.00
|
N/R
|
7,000
|
||||
145
|
Nevada Housing Division, Single Family Mortgage Bonds, Senior Series 1998A-1, 5.300%, 4/01/18 (Alternative Minimum Tax)
|
10/11 at 100.00
|
Aaa
|
148,352
|
||||
4,290
|
University of Nevada, Revenue Bonds, Community College System, Series 2001A, 5.250%, 7/01/26 (Pre-refunded 1/01/12) – FGIC Insured
|
1/12 at 100.00
|
Aa2 (4)
|
4,433,501
|
||||
26,435
|
Total Nevada
|
20,789,773
|
||||||
New Hampshire – 0.4% (0.2% of Total Investments)
|
||||||||
2,000
|
New Hampshire Health and Education Authority, Hospital Revenue Bonds, Concord Hospital, Series 2001, 5.500%, 10/01/21 – AGM Insured
|
10/11 at 101.00
|
Aa3
|
2,029,160
|
Nuveen Investments
|
75
|
Nuveen Dividend Advantage Municipal Fund 3 (continued)
|
||
NZF
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
New Jersey – 4.7% (3.2% of Total Investments)
|
||||||||
$
|
10,000
|
New Jersey Economic Development Authority, Water Facilities Revenue Bonds, American Water Company, Series 2002A, 5.250%, 11/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
11/12 at 101.00
|
A2
|
$
|
9,650,300
|
||
620
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center, Series 2003, 5.500%, 7/01/33
|
7/13 at 100.00
|
Ba2
|
461,230
|
||||
4,125
|
New Jersey Transit Corporation, Certificates of Participation, Federal Transit Administration Grants, Series 2002A, 5.500%, 9/15/13 – AMBAC Insured
|
No Opt. Call
|
Aa3
|
4,454,835
|
||||
12,970
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/33
|
No Opt. Call
|
A+
|
2,951,713
|
||||
20,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/33 – AGM Insured
|
No Opt. Call
|
AA+
|
4,326,200
|
||||
7,045
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 4.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
4,376,284
|
||||
54,760
|
Total New Jersey
|
26,220,562
|
||||||
New York – 5.1% (3.4% of Total Investments)
|
||||||||
900
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter Schools, Series 2007A, 5.000%, 4/01/32
|
4/17 at 100.00
|
N/R
|
696,402
|
||||
Brooklyn Areba Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:
|
||||||||
1,275
|
6.000%, 7/15/30
|
1/20 at 100.00
|
BBB–
|
1,236,725
|
||||
3,400
|
0.000%, 7/15/44
|
No Opt. Call
|
BBB–
|
332,418
|
||||
1,780
|
East Rochester Housing Authority, New York, GNMA Secured Revenue Bonds, Gates Senior Housing Inc., Series 2001, 5.300%, 4/20/31
|
10/11 at 101.00
|
N/R
|
1,696,927
|
||||
5,010
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%, 2/15/47 – NPFG Insured
|
2/17 at 100.00
|
A
|
3,812,810
|
||||
4,155
|
Monroe County Airport Authority, New York, Revenue Refunding Bonds, Greater Rochester International Airport, Series 1999, 5.750%, 1/01/13 – NPFG Insured (Alternative Minimum Tax)
|
No Opt. Call
|
Baa1
|
4,354,066
|
||||
8,000
|
New York City Industrial Development Agency, New York, American Airlines-JFK International Airport Special Facility Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum Tax)
|
8/16 at 101.00
|
B–
|
8,102,240
|
||||
3,125
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2011 Series EE, 5.375%, 6/15/43
|
12/20 at 100.00
|
AA+
|
3,229,188
|
||||
910
|
New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.625%, 8/01/20 – NPFG Insured
|
8/12 at 100.00
|
AA
|
956,929
|
||||
1,590
|
New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.625%, 8/01/20 (Pre-refunded 8/01/12) – NPFG Insured
|
8/12 at 100.00
|
AA (4)
|
1,694,876
|
||||
2,000
|
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/16
|
6/11 at 100.00
|
AA–
|
2,014,120
|
||||
32,145
|
Total New York
|
28,126,701
|
||||||
North Carolina – 1.1% (0.7% of Total Investments)
|
||||||||
1,710
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue Bonds, Series 2008, Trust 1149, 14.873%, 7/15/32 (IF)
|
1/18 at 100.00
|
AA-
|
1,340,486
|
||||
1,200
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care System Revenue Bonds, Carolinas Health Care, Series 2007A, 5.000%, 1/15/31
|
1/17 at 100.00
|
AA-
|
1,169,088
|
||||
1,750
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA Carolinas Healthcare System, Series 2005A, 4.875%, 1/15/32 (Pre-refunded 1/15/15)
|
1/15 at 100.00
|
AAA
|
1,987,633
|
||||
515
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.500%, 1/01/13 (ETM)
|
No Opt. Call
|
N/R (4)
|
556,967
|
||||
1,085
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.500%, 1/01/13
|
No Opt. Call
|
A
|
1,164,433
|
||||
6,260
|
Total North Carolina
|
6,218,607
|
76
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Ohio – 0.8% (0.5% of Total Investments)
|
||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||
$
|
3,135
|
5.125%, 6/01/24
|
6/17 at 100.00
|
Baa3
|
$
|
2,422,289
|
||
710
|
5.875%, 6/01/30
|
6/17 at 100.00
|
Baa3
|
512,364
|
||||
685
|
5.750%, 6/01/34
|
6/17 at 100.00
|
Baa3
|
471,965
|
||||
1,570
|
5.875%, 6/01/47
|
6/17 at 100.00
|
Baa3
|
1,059,263
|
||||
6,100
|
Total Ohio
|
4,465,881
|
||||||
Oklahoma – 2.0% (1.3% of Total Investments)
|
||||||||
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007:
|
||||||||
4,370
|
5.000%, 2/15/37
|
2/17 at 100.00
|
A
|
4,104,697
|
||||
955
|
5.000%, 2/15/42
|
2/17 at 100.00
|
A
|
883,108
|
||||
6,305
|
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health System, Series 2006, 5.000%, 12/15/36 (UB)
|
12/16 at 100.00
|
AA+
|
6,058,159
|
||||
88
|
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health System, Series 2008, Trust 3500, 8.356%, 6/15/30 (IF)
|
12/16 at 100.00
|
AA+
|
81,729
|
||||
11,718
|
Total Oklahoma
|
11,127,693
|
||||||
Oregon – 0.9% (0.6% of Total Investments)
|
||||||||
4,700
|
Oregon Health, Housing, Educational and Cultural Facilities Authority, Revenue Bonds, PeaceHealth Project, Series 2001, 5.250%, 11/15/21 – AMBAC Insured
|
11/11 at 101.00
|
A+
|
4,770,829
|
||||
Pennsylvania – 1.3% (0.8% of Total Investments)
|
||||||||
500
|
Bucks County Industrial Development Authority, Pennsylvania, Charter School Revenue Bonds, School Lane Charter School, Series 2007A, 5.000%, 3/15/37
|
3/17 at 100.00
|
BBB
|
381,185
|
||||
3,500
|
Pennsylvania Economic Development Financing Authority, Senior Lien Resource Recovery Revenue Bonds, Northampton Generating Project, Series 1994A, 6.600%, 1/01/19 (Alternative Minimum Tax)
|
7/11 at 100.00
|
CC
|
1,929,585
|
||||
1,400
|
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, St. Joseph’s University, Series 2010A, 5.000%, 11/01/40
|
11/20 at 100.00
|
A–
|
1,288,840
|
||||
3,205
|
Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2002B, 5.625%, 8/01/16 (Pre-refunded 8/01/12) – FGIC Insured
|
8/12 at 100.00
|
Aa2 (4)
|
3,412,876
|
||||
8,605
|
Total Pennsylvania
|
7,012,486
|
||||||
Puerto Rico – 0.4% (0.3% of Total Investments)
|
||||||||
2,500
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 5.250%, 8/01/57
|
8/17 at 100.00
|
Aa2
|
2,421,400
|
||||
Tennessee – 0.3% (0.2% of Total Investments)
|
||||||||
3,680
|
Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Refunding Bonds, Covenant Health, Series 2006, 0.000%, 1/01/41
|
1/17 at 30.07
|
A–
|
524,032
|
||||
275
|
Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Wellmont Health System, Series 2006C, 5.250%, 9/01/36
|
9/16 at 100.00
|
BBB+
|
227,824
|
||||
Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding Bonds, Sumner Regional Health System Inc., Series 2007:
|
||||||||
800
|
5.500%, 11/01/37 (5), (6)
|
11/17 at 100.00
|
N/R
|
40,080
|
||||
2,800
|
5.500%, 11/01/46 (5), (6)
|
11/17 at 100.00
|
N/R
|
140,280
|
||||
730
|
Tennessee Housing Development Agency, Homeownership Program Bonds, Series 2001-3A, 5.200%, 7/01/22 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA+
|
730,562
|
||||
8,285
|
Total Tennessee
|
1,662,778
|
||||||
Texas – 23.2% (15.4% of Total Investments)
|
||||||||
5,445
|
Board of Regents, University of Texas System, Financing System Revenue Bonds, Series 2006F, 4.250%, 8/15/36 (UB)
|
2/17 at 100.00
|
AAA
|
5,088,135
|
||||
3,850
|
Dallas-Ft. Worth International Airport, Texas, Joint Revenue Refunding and Improvement Bonds, Series 2001A, 5.500%, 11/01/35 – NPFG Insured (Alternative Minimum Tax)
|
11/11 at 100.00
|
A+
|
3,682,949
|
||||
5,000
|
Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2004A, 7.000%, 9/01/25
|
9/14 at 100.00
|
N/R
|
4,876,000
|
||||
4,040
|
Harris County, Texas, Tax and Revenue Certificates of Obligation, Series 2001, 5.000%, 8/15/27 (Pre-refunded 8/15/11)
|
8/11 at 100.00
|
AAA
|
4,096,600
|
Nuveen Investments
|
77
|
Nuveen Dividend Advantage Municipal Fund 3 (continued)
|
||
NZF
|
Portfolio of Investments
|
|
April 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Texas (continued)
|
||||||||
$
|
6,000
|
Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2001B, 5.500%, 12/01/29 – NPFG Insured (ETM)
|
No Opt. Call
|
N/R (4)
|
$
|
6,927,480
|
||
7,000
|
Houston, Texas, Subordinate Lien Airport System Revenue Bonds, Series 1998B, 5.250%, 7/01/14 – NPFG Insured (Alternative Minimum Tax)
|
7/11 at 100.00
|
A
|
7,016,030
|
||||
Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2001A:
|
||||||||
2,525
|
5.500%, 7/01/13 – FGIC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
A
|
2,594,842
|
||||
2,905
|
5.500%, 7/01/14 – FGIC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
A
|
2,985,352
|
||||
14,200
|
Hutto Independent School District, Williamson County, Texas, General Obligation Bonds, Series 2007A, 4.750%, 8/01/43 (UB)
|
8/16 at 100.00
|
AAA
|
14,117,782
|
||||
Jefferson County Health Facilities Development Corporation, Texas, FHA-Insured Mortgage Revenue Bonds, Baptist Hospital of Southeast Texas, Series 2001:
|
||||||||
8,500
|
5.400%, 8/15/31 (Pre-refunded 8/15/11) – AMBAC Insured
|
8/11 at 100.00
|
N/R (4)
|
8,615,515
|
||||
8,500
|
5.500%, 8/15/41 (Pre-refunded 8/15/11) – AMBAC Insured
|
8/11 at 100.00
|
N/R (4)
|
8,618,065
|
||||
3,090
|
Laredo Independent School District, Webb County, Texas, General Obligation Refunding Bonds, Series 2001, 5.000%, 8/01/25
|
8/11 at 100.00
|
AAA
|
3,116,327
|
||||
7,610
|
Laredo Independent School District, Webb County, Texas, General Obligation Refunding Bonds, Series 2001, 5.000%, 8/01/25 (Pre-refunded 8/01/11)
|
8/11 at 100.00
|
Aaa
|
7,702,538
|
||||
8,000
|
Lower Colorado River Authority, Texas, Transmission Contract Refunding Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding & Improvement Series 2010, 5.000%, 5/15/40
|
5/20 at 100.00
|
A
|
7,634,640
|
||||
1,750
|
Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series 2011A, 7.250%, 4/01/36
|
4/21 at 100.00
|
N/R
|
1,733,935
|
||||
2,500
|
Matagorda County Navigation District 1, Texas, Collateralized Revenue Refunding Bonds, Houston Light and Power Company, Series 1997, 5.125%, 11/01/28 – AMBAC Insured (Alternative Minimum Tax)
|
No Opt. Call
|
A3
|
2,387,350
|
||||
3,150
|
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F, 5.750%, 1/01/38
|
1/18 at 100.00
|
A3
|
3,065,990
|
||||
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A:
|
||||||||
4,370
|
0.000%, 9/01/43
|
9/31 at 100.00
|
AA
|
2,050,273
|
||||
9,130
|
0.000%, 9/01/45
|
9/31 at 100.00
|
AA
|
4,941,613
|
||||
3,045
|
Port of Houston Authority, Harris County, Texas, General Obligation Port Improvement Bonds, Series 2001B, 5.500%, 10/01/17 – FGIC Insured (Alternative Minimum Tax)
|
10/11 at 100.00
|
AAA
|
3,078,282
|
||||
3,500
|
Southwest Higher Education Authority Inc, Texas, Revenue Bonds, Southern Methodist University, Series 2010, 5.000%, 10/01/41
|
No Opt. Call
|
AA–
|
3,454,045
|
||||
7,700
|
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds, Texas Health Resources, Series 2007A, 5.000%, 2/15/36 (UB)
|
2/17 at 100.00
|
AA–
|
7,036,029
|
||||
8,820
|
Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Series 2001A, 5.350%, 7/01/33 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AAA
|
8,662,034
|
||||
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds, Series 2006:
|
||||||||
9,110
|
0.000%, 8/15/37
|
8/15 at 31.98
|
AAA
|
2,083,639
|
||||
9,110
|
0.000%, 8/15/40
|
8/15 at 27.11
|
AAA
|
1,727,529
|
||||
7,110
|
0.000%, 8/15/44
|
8/15 at 21.88
|
AAA
|
1,057,541
|
||||
155,960
|
Total Texas
|
128,350,515
|
||||||
Utah – 0.4% (0.3% of Total Investments)
|
||||||||
Utah Housing Corporation, Single Family Mortgage Bonds, Series 2001E:
|
||||||||
665
|
5.200%, 1/01/18 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA–
|
668,132
|
||||
240
|
5.500%, 1/01/23 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aaa
|
246,206
|
||||
Utah Housing Corporation, Single Family Mortgage Bonds, Series 2001F-1:
|
||||||||
1,075
|
4.950%, 7/01/18 (Alternative Minimum Tax)
|
7/11 at 100.00
|
AA–
|
1,092,813
|
||||
360
|
5.300%, 7/01/23 (Alternative Minimum Tax)
|
7/11 at 100.00
|
Aaa
|
366,667
|
||||
2,340
|
Total Utah
|
2,373,818
|
||||||
Virginia – 0.2% (0.1% of Total Investments)
|
||||||||
1,000
|
Chesterfield County Health Center Commission, Virginia, Mortgage Revenue Bonds, Lucy Corr Village, Series 2005, 5.375%, 12/01/28
|
12/15 at 100.00
|
N/R
|
848,650
|
78
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Washington – 13.1% (8.7% of Total Investments)
|
||||||||
Bellingham Housing Authority, Washington, Housing Revenue Bonds, Varsity Village Project, Series 2001A:
|
||||||||
$
|
1,000
|
5.500%, 12/01/27 – NPFG Insured
|
12/11 at 100.00
|
Aaa
|
$
|
1,006,110
|
||
2,000
|
5.600%, 12/01/36 – NPFG Insured
|
12/11 at 100.00
|
Aaa
|
2,007,000
|
||||
2,500
|
King County, Washington, Sewer Revenue Bonds, Series 2009, 5.250%, 1/01/42
|
1/19 at 100.00
|
AA+
|
2,559,225
|
||||
Port of Seattle, Washington, Revenue Bonds, Series 2001B:
|
||||||||
2,535
|
5.625%, 4/01/18 – FGIC Insured (Alternative Minimum Tax) (UB)
|
10/11 at 100.00
|
Aa2
|
2,577,816
|
||||
16,000
|
5.100%, 4/01/24 – FGIC Insured (Alternative Minimum Tax) (UB)
|
7/11 at 100.00
|
Aa2
|
16,001,280
|
||||
1,440
|
Public Utility District 1, Benton County, Washington, Electric Revenue Refunding Bonds, Series 2001A, 5.625%, 11/01/15 (Pre-refunded 11/01/11) – AGM Insured
|
11/11 at 100.00
|
AA+ (4)
|
1,478,491
|
||||
650
|
Public Utility District 1, Benton County, Washington, Electric Revenue Refunding Bonds, Series 2001A, 5.625%, 11/01/15 – AGM Insured
|
11/11 at 100.00
|
AA+
|
664,957
|
||||
4,530
|
Tacoma, Washington, Solid Waste Utility Revenue Refunding Bonds, Series 2001, 5.250%, 12/01/21 (Pre-refunded 12/01/11) – AMBAC Insured
|
12/11 at 100.00
|
AA (4)
|
4,660,691
|
||||
3,720
|
Washington State Health Care Facilities Authority, Revenue Bonds, Children’s Hospital and Regional Medical Center, Series 2001, 5.375%, 10/01/18 (Pre-refunded 10/01/11) – AMBAC Insured
|
10/11 at 100.00
|
Aa3 (4)
|
3,798,046
|
||||
Washington State Health Care Facilities Authority, Revenue Bonds, Good Samaritan Hospital, Series 2001:
|
||||||||
5,480
|
5.500%, 10/01/21 (Pre-refunded 10/01/11) – RAAI Insured
|
10/11 at 101.00
|
BBB– (4)
|
5,652,565
|
||||
25,435
|
5.625%, 10/01/31 (Pre-refunded 10/01/11) – RAAI Insured
|
10/11 at 101.00
|
BBB– (4)
|
26,249,429
|
||||
Washington State Health Care Facilities Authority, Revenue Bonds, Group Health Cooperative of Puget Sound, Series 2001:
|
||||||||
3,005
|
5.375%, 12/01/17 – AMBAC Insured
|
12/11 at 101.00
|
BBB
|
3,052,509
|
||||
2,915
|
5.375%, 12/01/18 – AMBAC Insured
|
12/11 at 101.00
|
BBB
|
2,953,216
|
||||
71,210
|
Total Washington
|
72,661,335
|
||||||
Wisconsin – 2.4% (1.6% of Total Investments)
|
||||||||
Appleton, Wisconsin, Waterworks Revenue Refunding Bonds, Series 2001:
|
||||||||
3,705
|
5.375%, 1/01/20 (Pre-refunded 1/01/12) – FGIC Insured
|
1/12 at 100.00
|
N/R (4)
|
3,830,785
|
||||
1,850
|
5.000%, 1/01/21 (Pre-refunded 1/01/12) – FGIC Insured
|
1/12 at 100.00
|
N/R (4)
|
1,908,146
|
||||
1,000
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of Christian Charity HealthCare Ministry, Series 2007, 5.000%, 9/01/33
|
9/17 at 100.00
|
BBB+
|
851,560
|
||||
350
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert and Community Health Obligated Group, Series 2001, 5.375%, 10/01/30
|
10/11 at 101.00
|
AA–
|
350,291
|
||||
3,650
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert and Community Health Obligated Group, Series 2001, 5.375%, 10/01/30 (Pre-refunded 10/01/11)
|
10/11 at 101.00
|
AA– (4)
|
3,763,041
|
||||
2,500
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2001B, 6.000%, 2/15/25
|
2/12 at 100.00
|
BBB+
|
2,506,225
|
||||
330
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc., Series 2003A, 5.125%, 8/15/33
|
8/13 at 100.00
|
BBB+
|
280,018
|
||||
13,385
|
Total Wisconsin
|
13,490,066
|
||||||
$
|
982,563
|
Total Municipal Bonds (cost $852,788,119)
|
824,171,872
|
|||||
Shares
|
Description (1)
|
Value
|
||||||
Investment Companies – 0.6% (0.4% of Total Investments)
|
||||||||
6,266
|
BlackRock MuniHoldings Fund Inc.
|
$
|
90,920
|
|||||
26,880
|
Dreyfus Strategic Municipal Fund
|
211,277
|
||||||
131,278
|
DWS Municipal Income Trust
|
1,537,265
|
||||||
43,020
|
Invesco Van Kampen Investment Grade Municipal Trust
|
566,573
|
||||||
30,000
|
Invesco Van Kampen Municipal Opportunity Trust
|
386,700
|
||||||
43,420
|
PIMCO Municipal Income Fund II
|
438,542
|
||||||
Total Investment Companies (cost $3,325,133)
|
3,231,277
|
Nuveen Investments
|
79
|
Nuveen Dividend Advantage Municipal Fund 3 (continued)
|
||
NZF
|
Portfolio of Investments
|
Principal
|
Optional Call
|
|||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||
Short-Term Investments – 0.9% (0.6% of Total Investments)
|
||||||||
South Carolina – 0.9% (0.6% of Total Investments)
|
||||||||
$
|
4,730
|
South Carolina Educational Facilities Authority, Charleston Southern University Education Facilities Revenue Bond, Variable Rate Demand Series 2003, 0.270%, 4/01/28 (8)
|
5/11 at 100.00
|
N/R
|
$
|
4,730,000
|
||
$
|
4,730
|
Total Short-Term Investments (cost $4,730,000)
|
4,730,000
|
|||||
Total Investments (cost $860,843,252) – 150.5%
|
832,133,149
|
|||||||
Floating Rate Obligations – (11.1)%
|
(61,132,000)
|
|||||||
MuniTerm Preferred Shares, at Liquidation Value – (12.7)% (9)
|
(70,000,000)
|
|||||||
Other Assets Less Liabilities – 3.8%
|
20,399,964
|
|||||||
Auction Rate Preferred Shares at Liquidation Value – (30.5)% (9)
|
(168,400,000)
|
|||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
553,001,113
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Such investments are normally considered to be equivalent to AAA rated securities.
|
|
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
|
(6)
|
For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
|
|
(7)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations of investments in inverse floating rate transactions.
|
|
(8)
|
Investment has a maturity of more than one year, but has variable rate and demand features which qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.
|
|
(9)
|
MuniFund Term Preferred Shares and Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments are 8.4% and 20.2%, respectively.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
80
|
Nuveen Investments
|
Statement of
|
||
Assets & Liabilities
|
||
April 30, 2011 (Unaudited)
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
||||||||
(NPP
|
)
|
(NMA
|
)
|
(NMO
|
)
|
|||||
Assets
|
||||||||||
Investments, at value (cost $1,282,652,166, $949,386,064 and $1,005,041,850, respectively)
|
$
|
1,263,296,465
|
$
|
912,199,838
|
$
|
937,587,364
|
||||
Cash
|
14,156,274
|
1,583,416
|
7,060,180
|
|||||||
Receivables:
|
||||||||||
Dividends and interest
|
18,242,171
|
15,420,637
|
15,370,577
|
|||||||
Investments sold
|
10,000
|
10,707,134
|
9,205,000
|
|||||||
Deferred offering costs
|
1,673,393
|
2,054,038
|
4,061,310
|
|||||||
Other assets
|
317,030
|
445,183
|
432,986
|
|||||||
Total assets
|
1,297,695,333
|
942,410,246
|
973,717,417
|
|||||||
Liabilities
|
||||||||||
Floating rate obligations
|
40,825,000
|
59,788,333
|
43,530,000
|
|||||||
Payables:
|
||||||||||
Auction Rate Preferred share dividends
|
12,066
|
—
|
—
|
|||||||
Common share dividends
|
4,142,261
|
3,070,577
|
3,265,632
|
|||||||
Interest
|
520,251
|
—
|
—
|
|||||||
Offering costs
|
249,154
|
243,099
|
393,751
|
|||||||
MuniFund Term Preferred (MTP) shares, at liquidation value
|
—
|
—
|
—
|
|||||||
Variable MuniFund Term Preferred (VMTP) shares, at liquidation value
|
421,700,000
|
—
|
—
|
|||||||
Variable Rate Demand Preferred (VRDP) shares, at liquidation value
|
—
|
296,800,000
|
350,900,000
|
|||||||
Accrued expenses:
|
||||||||||
Management fees
|
636,099
|
409,397
|
396,894
|
|||||||
Other
|
357,793
|
210,809
|
257,054
|
|||||||
Total liabilities
|
468,442,624
|
360,522,215
|
398,743,331
|
|||||||
Auction Rate Preferred shares (ARPS), at liquidation value
|
—
|
—
|
—
|
|||||||
Net assets applicable to Common shares
|
$
|
829,252,709
|
$
|
581,888,031
|
$
|
574,974,086
|
||||
Common shares outstanding
|
59,952,462
|
43,502,742
|
45,809,174
|
|||||||
Net asset value per Common share outstanding (net assets applicable to Common shares, divided by Common shares outstanding)
|
$
|
13.83
|
$
|
13.38
|
$
|
12.55
|
||||
Net assets applicable to Common shares consist of:
|
||||||||||
Common shares, $.01 par value per share
|
$
|
599,525
|
$
|
435,027
|
$
|
458,092
|
||||
Paid-in surplus
|
838,916,306
|
608,197,679
|
639,096,126
|
|||||||
Undistributed (Over-distribution of) net investment income
|
17,262,981
|
9,157,952
|
7,838,360
|
|||||||
Accumulated net realized gain (loss)
|
(8,170,402
|
)
|
1,283,599
|
(4,964,006
|
)
|
|||||
Net unrealized appreciation (depreciation)
|
(19,355,701
|
)
|
(37,186,226
|
)
|
(67,454,486
|
)
|
||||
Net assets applicable to Common shares
|
$
|
829,252,709
|
$
|
581,888,031
|
$
|
574,974,086
|
||||
Authorized shares:
|
||||||||||
Common
|
200,000,000
|
200,000,000
|
200,000,000
|
|||||||
ARPS
|
1,000,000
|
1,000,000
|
1,000,000
|
|||||||
MTP
|
—
|
—
|
—
|
|||||||
VMTP
|
Unlimited
|
—
|
—
|
|||||||
VRDP
|
—
|
Unlimited
|
Unlimited
|
Nuveen Investments
|
81
|
Statement of
|
||
Assets & Liabilities (continued)
|
||
April 30, 2011 (Unaudited)
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
|||||
Assets
|
||||||||||
Investments, at value (cost $856,943,299, $618,711,664 and $860,843,252, respectively)
|
$
|
815,024,785
|
$
|
591,162,570
|
$
|
832,133,149
|
||||
Cash
|
8,970,092
|
246,751
|
7,482,669
|
|||||||
Receivables:
|
||||||||||
Dividends and interest
|
13,371,333
|
11,110,151
|
14,918,011
|
|||||||
Investments sold
|
50,968
|
15,577,229
|
656,846
|
|||||||
Deferred offering costs
|
2,002,216
|
2,106,015
|
1,325,669
|
|||||||
Other assets
|
214,967
|
239,623
|
203,737
|
|||||||
Total assets
|
839,634,361
|
620,442,339
|
856,720,081
|
|||||||
Liabilities
|
||||||||||
Floating rate obligations
|
51,605,000
|
26,660,000
|
61,132,000
|
|||||||
Payables:
|
||||||||||
Auction Rate Preferred share dividends
|
16,806
|
—
|
11,989
|
|||||||
Common share dividends
|
2,877,538
|
2,277,967
|
3,206,285
|
|||||||
Interest
|
324,675
|
—
|
163,333
|
|||||||
Offering costs
|
211,269
|
108,461
|
250,041
|
|||||||
MuniFund Term Preferred (MTP) shares, at liquidation value
|
144,300,000
|
—
|
70,000,000
|
|||||||
Variable MuniFund Term Preferred (VMTP) shares, at liquidation value
|
—
|
—
|
—
|
|||||||
Variable Rate Demand Preferred (VRDP) shares, at liquidation value
|
—
|
196,000,000
|
—
|
|||||||
Accrued expenses:
|
||||||||||
Management fees
|
402,512
|
294,387
|
391,739
|
|||||||
Other
|
234,577
|
147,898
|
163,581
|
|||||||
Total liabilities
|
199,972,377
|
225,488,713
|
135,318,968
|
|||||||
Auction Rate Preferred shares (ARPS), at liquidation value
|
120,075,000
|
—
|
168,400,000
|
|||||||
Net assets applicable to Common shares
|
$
|
519,586,984
|
$
|
394,953,626
|
$
|
553,001,113
|
||||
Common shares outstanding
|
39,296,352
|
29,461,808
|
40,392,021
|
|||||||
Net asset value per Common share outstanding (net assets applicable to Common shares, divided by Common shares outstanding)
|
$
|
13.22
|
$
|
13.41
|
$
|
13.69
|
||||
Net assets applicable to Common shares consist of:
|
||||||||||
Common shares, $.01 par value per share
|
$
|
392,964
|
$
|
294,618
|
$
|
403,920
|
||||
Paid-in surplus
|
550,828,919
|
420,334,455
|
575,733,715
|
|||||||
Undistributed (Over-distribution of) net investment income
|
10,751,430
|
5,961,835
|
10,185,779
|
|||||||
Accumulated net realized gain (loss)
|
(467,815
|
)
|
(4,088,188
|
)
|
(4,612,198
|
)
|
||||
Net unrealized appreciation (depreciation)
|
(41,918,514
|
)
|
(27,549,094
|
)
|
(28,710,103
|
)
|
||||
Net assets applicable to Common shares
|
$
|
519,586,984
|
$
|
394,953,626
|
$
|
553,001,113
|
||||
Authorized shares:
|
||||||||||
Common
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||
ARPS
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||
MTP
|
Unlimited
|
—
|
Unlimited
|
|||||||
VMTP
|
—
|
—
|
—
|
|||||||
VRDP
|
—
|
Unlimited
|
—
|
82
|
Nuveen Investments
|
Statement of
|
||
Operations
|
||
Six Months Ended April 30, 2011 (Unaudited)
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||||||||
(NPP
|
)
|
(NMA
|
)
|
(NMO
|
)
|
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
||||||||
Investment Income
|
$
|
35,888,197
|
$
|
26,491,337
|
$
|
26,586,348
|
$
|
23,649,535
|
$
|
18,128,297
|
$
|
24,238,421
|
|||||||
Expenses
|
|||||||||||||||||||
Management fees
|
3,890,994
|
2,774,296
|
2,853,509
|
2,471,176
|
1,811,423
|
2,607,619
|
|||||||||||||
Auction fees
|
198,133
|
121,284
|
176,424
|
89,316
|
98,544
|
145,814
|
|||||||||||||
Dividend disbursing agent fees
|
28,137
|
—
|
—
|
14,877
|
—
|
14,877
|
|||||||||||||
Shareholders’ servicing agent fees and expenses
|
51,122
|
32,204
|
34,181
|
24,807
|
1,898
|
8,113
|
|||||||||||||
Interest expense and amortization of offering costs
|
1,407,134
|
941,207
|
1,021,569
|
2,339,628
|
557,740
|
1,074,558
|
|||||||||||||
Liquidity fees on VRDP shares
|
—
|
1,920,806
|
1,796,887
|
—
|
1,003,675
|
—
|
|||||||||||||
Custodian’s fees and expenses
|
107,044
|
75,031
|
78,318
|
68,252
|
52,405
|
67,438
|
|||||||||||||
Directors’/Trustees’ fees and expenses
|
16,879
|
13,087
|
13,286
|
11,443
|
8,670
|
11,728
|
|||||||||||||
Professional fees
|
98,460
|
100,532
|
280,977
|
128,541
|
134,507
|
38,252
|
|||||||||||||
Shareholders’ reports – printing and mailing expenses
|
75,625
|
31,570
|
51,965
|
33,054
|
21,998
|
28,105
|
|||||||||||||
Stock exchange listing fees
|
10,045
|
7,285
|
7,638
|
22,284
|
2,038
|
2,795
|
|||||||||||||
Investor relations expense
|
31,237
|
21,113
|
22,199
|
15,503
|
12,347
|
16,471
|
|||||||||||||
Other expenses
|
41,184
|
25,741
|
27,532
|
29,617
|
21,208
|
22,300
|
|||||||||||||
Total expenses before custodian fee credit and expense reimbursement
|
5,955,994
|
6,064,156
|
6,364,485
|
5,248,498
|
3,726,453
|
4,038,070
|
|||||||||||||
Custodian fee credit
|
(7,489
|
)
|
(8,743
|
)
|
(7,524
|
)
|
(9,085
|
)
|
(6,071
|
)
|
(8,700
|
)
|
|||||||
Expense reimbursement
|
—
|
—
|
—
|
—
|
(123,892
|
)
|
(215,066
|
)
|
|||||||||||
Net expenses
|
5,948,505
|
6,055,413
|
6,356,961
|
5,239,413
|
3,596,490
|
3,814,304
|
|||||||||||||
Net investment income
|
29,939,692
|
20,435,924
|
20,229,387
|
18,410,122
|
14,531,807
|
20,424,117
|
|||||||||||||
Realized and Unrealized Gain(Loss)
|
|||||||||||||||||||
Net realized gain (loss) from investments
|
(1,764,004
|
)
|
3,687,389
|
187,456
|
4,479,750
|
2,792,794
|
(1,476,912
|
)
|
|||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(80,478,387
|
)
|
(63,982,599
|
)
|
(72,119,667
|
)
|
(62,099,178
|
)
|
(43,053,802
|
)
|
(40,508,757
|
)
|
|||||||
Net realized and unrealized gain (loss)
|
(82,242,391
|
)
|
(60,295,210
|
)
|
(71,932,211
|
)
|
(57,619,428
|
)
|
(40,261,008
|
)
|
(41,985,669
|
)
|
|||||||
Distributions to Auction Rate Preferred Shareholders
|
|||||||||||||||||||
From net investment income
|
(617,092
|
)
|
—
|
—
|
(243,637
|
)
|
—
|
(402,855
|
)
|
||||||||||
From accumulated net realized gains
|
(115,631
|
)
|
—
|
—
|
—
|
—
|
(9,510
|
)
|
|||||||||||
Decrease in net assets applicable to Common shares from distributions to Auction Rate Preferred shareholders
|
(732,723
|
)
|
—
|
—
|
(243,637
|
)
|
—
|
(412,365
|
)
|
||||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
$
|
(53,035,422
|
)
|
$
|
(39,859,286
|
)
|
$
|
(51,702,824
|
)
|
$
|
(39,452,943
|
)
|
$
|
(25,729,201
|
)
|
$
|
(21,973,917
|
)
|
Nuveen Investments
|
83
|
Statement of
|
||
Changes in Net Assets (Unaudited)
|
Performance Plus (NPP)
|
Municipal Advantage (NMA)
|
Market Opportunity (NMO)
|
|||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||
Operations
|
|||||||||||||||||||
Net investment income
|
$
|
29,939,692
|
$
|
61,961,159
|
$
|
20,435,924
|
$
|
43,865,457
|
$
|
20,229,387
|
$
|
45,415,957
|
|||||||
Net realized gain (loss) from investments
|
(1,764,004
|
)
|
5,333,340
|
3,687,389
|
2,499,059
|
187,456
|
7,021,125
|
||||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(80,478,387
|
)
|
36,406,331
|
(63,982,599
|
)
|
29,929,503
|
(72,119,667
|
)
|
18,357,610
|
||||||||||
Distributions to Auction Rate Preferred Shareholders:
|
|||||||||||||||||||
From net investment income
|
(617,092
|
)
|
(1,674,198
|
)
|
—
|
(355,444
|
)
|
—
|
(606,064
|
)
|
|||||||||
From accumulated net realized gains
|
(115,631
|
)
|
(47,490
|
)
|
—
|
(183,376
|
)
|
—
|
—
|
||||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
(53,035,422
|
)
|
101,979,142
|
(39,859,286
|
)
|
75,755,199
|
(51,702,824
|
)
|
70,188,628
|
||||||||||
Distributions to Common Shareholders
|
|||||||||||||||||||
From net investment income
|
(28,613,787
|
)
|
(55,177,839
|
)
|
(21,522,544
|
)
|
(42,290,819
|
)
|
(22,385,381
|
)
|
(43,873,378
|
)
|
|||||||
From accumulated net realized gains
|
(5,533,612
|
)
|
(814,831
|
)
|
—
|
(2,827,574
|
)
|
—
|
—
|
||||||||||
Decrease in net assets applicable to Common shares from distributions to Common shareholders
|
(34,147,399
|
)
|
(55,992,670
|
)
|
(21,522,544
|
)
|
(45,118,393
|
)
|
(22,385,381
|
)
|
(43,873,378
|
)
|
|||||||
Capital Share Transactions
|
|||||||||||||||||||
Net proceeds from Common shares issued to shareholders due to reinvestment of distributions
|
283,901
|
292,445
|
905,902
|
2,913,988
|
1,045,705
|
2,382,420
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares from capital share transactions
|
283,901
|
292,445
|
905,902
|
2,913,988
|
1,045,705
|
2,382,420
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares
|
(86,898,920
|
)
|
46,278,917
|
(60,475,928
|
)
|
33,550,794
|
(73,042,500
|
)
|
28,697,670
|
||||||||||
Net assets applicable to Common shares at the beginning of period
|
916,151,629
|
869,872,712
|
642,363,959
|
608,813,165
|
648,016,586
|
619,318,916
|
|||||||||||||
Net assets applicable to Common shares at the end of period
|
$
|
829,252,709
|
$
|
916,151,629
|
$
|
581,888,031
|
$
|
642,363,959
|
$
|
574,974,086
|
$
|
648,016,586
|
|||||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
17,262,981
|
$
|
16,554,168
|
$
|
9,157,952
|
$
|
10,244,572
|
$
|
7,838,360
|
$
|
9,994,354
|
84
|
Nuveen Investments
|
Dividend Advantage (NAD)
|
Dividend Advantage 2 (NXZ)
|
Dividend Advantage 3 (NZF)
|
|||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||
Operations
|
|||||||||||||||||||
Net investment income
|
$
|
18,410,122
|
$
|
39,281,244
|
$
|
14,531,807
|
$
|
30,012,369
|
$
|
20,424,117
|
$
|
43,023,730
|
|||||||
Net realized gain (loss) from investments
|
4,479,750
|
1,079,125
|
2,792,794
|
1,450,091
|
(1,476,912
|
)
|
786,636
|
||||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(62,099,178
|
)
|
27,410,233
|
(43,053,802
|
)
|
6,351,263
|
(40,508,757
|
)
|
20,450,314
|
||||||||||
Distributions to Auction Rate Preferred Shareholders:
|
|||||||||||||||||||
From net investment income
|
(243,637
|
)
|
(724,675
|
)
|
—
|
—
|
(402,855
|
)
|
(880,640
|
)
|
|||||||||
From accumulated net realized gains
|
—
|
—
|
—
|
—
|
(9,510
|
)
|
(125,552
|
)
|
|||||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
(39,452,943
|
)
|
67,045,927
|
(25,729,201
|
)
|
37,813,723
|
(21,973,917
|
)
|
63,254,488
|
||||||||||
Distributions to Common Shareholders
|
|||||||||||||||||||
From net investment income
|
(17,918,790
|
)
|
(35,752,124
|
)
|
(14,141,332
|
)
|
(28,615,006
|
)
|
(19,872,502
|
)
|
(38,518,652
|
)
|
|||||||
From accumulated net realized gains
|
—
|
—
|
—
|
—
|
(630,116
|
)
|
(2,547,863
|
)
|
|||||||||||
Decrease in net assets applicable to Common shares from distributions to Common shareholders
|
(17,918,790
|
)
|
(35,752,124
|
)
|
(14,141,332
|
)
|
(28,615,006
|
)
|
(20,502,618
|
)
|
(41,066,515
|
)
|
|||||||
Capital Share Transactions
|
|||||||||||||||||||
Net proceeds from Common shares issued to shareholders due to reinvestment of distributions
|
63,949
|
66,815
|
59,744
|
312,251
|
64,704
|
137,143
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares from capital share transactions
|
63,949
|
66,815
|
59,744
|
312,251
|
64,704
|
137,143
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares
|
(57,307,784
|
)
|
31,360,618
|
(39,810,789
|
)
|
9,510,968
|
(42,411,831
|
)
|
22,325,116
|
||||||||||
Net assets applicable to Common shares at the beginning of period
|
576,894,768
|
545,534,150
|
434,764,415
|
425,253,447
|
595,412,944
|
573,087,828
|
|||||||||||||
Net assets applicable to Common shares at the end of period
|
$
|
519,586,984
|
$
|
576,894,768
|
$
|
394,953,626
|
$
|
434,764,415
|
$
|
553,001,113
|
$
|
595,412,944
|
|||||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
10,751,430
|
$
|
10,503,735
|
$
|
5,961,835
|
$
|
5,571,360
|
$
|
10,185,779
|
$
|
10,037,019
|
Nuveen Investments
|
85
|
Statement of
|
||
Cash Flows
|
||
Six months ended April 30, 2011
(Unaudited)
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
||||||||
(NPP
|
)
|
(NMA
|
)
|
(NMO
|
)
|
|||||
Cash Flows from Operating Activities:
|
||||||||||
Net Increase (Decrease) In Net Assets Applicable to Common Shares from Operations
|
$
|
(53,035,422
|
)
|
$
|
(39,859,286
|
)
|
$
|
(51,702,824
|
)
|
|
Adjustments to reconcile the net increase (decrease) in net assets applicable to Common shares from operations to net cash provided by (used in) operating activities:
|
||||||||||
Purchases of investments
|
(61,152,069
|
)
|
(78,690,787
|
)
|
(72,867,258
|
)
|
||||
Proceeds from sales and maturities of investments
|
83,859,031
|
94,773,516
|
53,454,071
|
|||||||
Proceeds from (Purchases of) short-term investments, net
|
—
|
—
|
—
|
|||||||
Amortization (Accretion) of premiums and discounts, net
|
(7,285,814
|
)
|
(3,291,936
|
)
|
(3,830,335
|
)
|
||||
(Increase) Decrease in:
|
||||||||||
Receivable for dividends and interest
|
128,312
|
532,803
|
632,515
|
|||||||
Receivable for investments sold
|
785,000
|
(10,112,134
|
)
|
51,939,000
|
||||||
Other assets
|
(18,654
|
)
|
(15,701
|
)
|
(37,331
|
)
|
||||
Increase (Decrease) in:
|
||||||||||
Payable for investments purchased
|
—
|
—
|
(11,733,982
|
)
|
||||||
Payable for Auction Rate Preferred share dividends
|
(13,620
|
)
|
—
|
—
|
||||||
Payable for interest
|
520,251
|
—
|
—
|
|||||||
Accrued management fees
|
(75,685
|
)
|
(54,243
|
)
|
(63,614
|
)
|
||||
Accrued other liabilities
|
(132,790
|
)
|
(128,071
|
)
|
(117,298
|
)
|
||||
Net realized (gain) loss from investments
|
1,764,004
|
(3,687,389
|
)
|
(187,456
|
)
|
|||||
Change in net unrealized (appreciation) depreciation of investments
|
80,478,387
|
63,982,599
|
72,119,667
|
|||||||
Taxes paid on undistributed capital gains
|
(373
|
)
|
(181,644
|
)
|
(4,366
|
)
|
||||
Net cash provided by (used in) operating activities
|
45,820,558
|
23,267,727
|
37,600,789
|
|||||||
Cash Flows from Financing Activities:
|
||||||||||
(Increase) Decrease in deferred offering costs
|
(1,673,393
|
)
|
35,885
|
69,790
|
||||||
Increase (Decrease) in:
|
||||||||||
Cash overdraft balance
|
—
|
—
|
(9,292,196
|
)
|
||||||
Floating rate obligations
|
(1,500,000
|
)
|
(7,906,650
|
)
|
—
|
|||||
Payable for offering costs
|
249,154
|
(195
|
)
|
—
|
||||||
ARPS, at liquidation value
|
(419,900,000
|
)
|
—
|
—
|
||||||
MTP shares, at liquidation value
|
—
|
—
|
—
|
|||||||
VMTP shares, at liquidation value
|
421,700,000
|
—
|
—
|
|||||||
Cash distributions paid to Common shareholders
|
(33,841,564
|
)
|
(20,600,367
|
)
|
(21,318,203
|
)
|
||||
Net cash provided by (used in) financing activities
|
(34,965,803
|
)
|
(28,471,327
|
)
|
(30,540,609
|
)
|
||||
Net Increase (Decrease) in Cash
|
10,854,755
|
(5,203,600
|
)
|
7,060,180
|
||||||
Cash at the beginning of period
|
3,301,519
|
6,787,016
|
—
|
|||||||
Cash at the End of Period
|
$
|
14,156,274
|
$
|
1,583,416
|
$
|
7,060,180
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
||||||||
(NPP
|
)
|
(NMA
|
)
|
(NMO
|
)
|
|||||
Cash paid for interest (excluding amortization of offering costs)
|
$
|
780,276
|
$
|
905,517
|
$
|
951,779
|
86
|
Nuveen Investments
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
|||||
Cash Flows from Operating Activities:
|
||||||||||
Net Increase (Decrease) In Net Assets Applicable to Common Shares from Operations
|
$
|
(39,452,943
|
)
|
$
|
(25,729,201
|
)
|
$
|
(21,973,917
|
)
|
|
Adjustments to reconcile the net increase (decrease) in net assets applicable to Common shares from operations to net cash provided by (used in) operating activities:
|
||||||||||
Purchases of investments
|
(81,244,089
|
)
|
(89,709,257
|
)
|
(78,303,221
|
)
|
||||
Proceeds from sales and maturities of investments
|
81,902,551
|
98,572,064
|
95,276,606
|
|||||||
Proceeds from (Purchases of) short-term investments, net
|
—
|
—
|
(4,730,000
|
)
|
||||||
Amortization (Accretion) of premiums and discounts, net
|
(4,053,088
|
)
|
(2,020,307
|
)
|
(753,293
|
)
|
||||
(Increase) Decrease in:
|
||||||||||
Receivable for dividends and interest
|
(333,933
|
)
|
285,773
|
190,088
|
||||||
Receivable for investments sold
|
19,377,157
|
(7,467,229
|
)
|
198,134
|
||||||
Other assets
|
(21,004
|
)
|
(14,141
|
)
|
(24,678
|
)
|
||||
Increase (Decrease) in:
|
||||||||||
Payable for investments purchased
|
(5,859,060
|
)
|
—
|
—
|
||||||
Payable for Auction Rate Preferred share dividends
|
(2,150
|
)
|
—
|
(1,187
|
)
|
|||||
Payable for interest
|
—
|
—
|
163,333
|
|||||||
Accrued management fees
|
(49,917
|
)
|
(6,555
|
)
|
(37,610
|
)
|
||||
Accrued other liabilities
|
(32,796
|
)
|
(25,843
|
)
|
(37,712
|
)
|
||||
Net realized (gain) loss from investments
|
(4,479,750
|
)
|
(2,792,794
|
)
|
1,476,912
|
|||||
Change in net unrealized (appreciation) depreciation of investments
|
62,099,178
|
43,053,802
|
40,508,757
|
|||||||
Taxes paid on undistributed capital gains
|
(3,781
|
)
|
(244
|
)
|
—
|
|||||
Net cash provided by (used in) operating activities
|
27,846,375
|
14,146,068
|
31,952,212
|
|||||||
Cash Flows from Financing Activities:
|
||||||||||
(Increase) Decrease in deferred offering costs
|
237,867
|
36,493
|
(1,325,669
|
)
|
||||||
Increase (Decrease) in:
|
||||||||||
Cash overdraft balance
|
(1,211,715
|
)
|
—
|
—
|
||||||
Floating rate obligations
|
—
|
(1,650
|
)
|
(7,276,650
|
)
|
|||||
Payable for offering costs
|
(53,021
|
)
|
—
|
250,041
|
||||||
ARPS, at liquidation value
|
—
|
—
|
(68,550,000
|
)
|
||||||
MTP shares, at liquidation value
|
—
|
—
|
70,000,000
|
|||||||
VMTP shares, at liquidation value
|
—
|
—
|
—
|
|||||||
Cash distributions paid to Common shareholders
|
(17,849,414
|
)
|
(14,077,408
|
)
|
(20,435,333
|
)
|
||||
Net cash provided by (used in) financing activities
|
(18,876,283
|
)
|
(14,042,565
|
)
|
(27,337,611
|
)
|
||||
Net Increase (Decrease) in Cash
|
8,970,092
|
103,503
|
4,614,601
|
|||||||
Cash at the beginning of period
|
—
|
143,248
|
2,868,068
|
|||||||
Cash at the End of Period
|
$
|
8,970,092
|
$
|
246,751
|
$
|
7,482,669
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
|||||
Cash paid for interest (excluding amortization of offering costs)
|
$
|
2,088,261
|
$
|
521,247
|
$
|
808,223
|
Nuveen Investments
|
87
|
Financial
|
||
Highlights (Unaudited)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
||||||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share–
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share–
holders
|
Total
|
Discount
from
Common
Shares
Repur-
chased
and
Retired
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
|||||||||||||||||||||||
Performance Plus (NPP)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
$
|
15.29
|
$
|
.50
|
$
|
(1.38
|
)
|
$
|
(.01
|
)
|
$
|
—
|
*
|
$
|
(.89
|
)
|
$
|
(.48
|
)
|
$
|
(.09
|
)
|
$
|
(.57
|
)
|
$
|
—
|
$
|
13.83
|
$
|
13.33
|
||||||
2010
|
14.52
|
1.03
|
.70
|
(.03
|
)
|
—
|
*
|
1.70
|
(.92
|
)
|
(.01
|
)
|
(.93
|
)
|
—
|
15.29
|
15.00
|
||||||||||||||||||||
2009
|
12.69
|
1.03
|
1.65
|
(.06
|
)
|
—
|
2.62
|
(.79
|
)
|
—
|
(.79
|
)
|
—
|
14.52
|
13.48
|
||||||||||||||||||||||
2008
|
15.22
|
1.02
|
(2.56
|
)
|
(.29
|
)
|
—
|
(1.83
|
)
|
(.70
|
)
|
—
|
(.70
|
)
|
—
|
12.69
|
11.50
|
||||||||||||||||||||
2007
|
15.78
|
.99
|
(.47
|
)
|
(.27
|
)
|
(.01
|
)
|
.24
|
(.75
|
)
|
(.05
|
)
|
(.80
|
)
|
—
|
15.22
|
13.59
|
|||||||||||||||||||
2006
|
15.51
|
1.00
|
.38
|
(.25
|
)
|
—
|
1.13
|
(.84
|
)
|
(.02
|
)
|
(.86
|
)
|
—
|
15.78
|
15.09
|
|||||||||||||||||||||
Municipal Advantage (NMA)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
14.79
|
.47
|
(1.38
|
)
|
—
|
—
|
(.91
|
)
|
(.50
|
)
|
—
|
(.50
|
)
|
—
|
13.38
|
12.99
|
|||||||||||||||||||||
2010
|
14.08
|
1.01
|
.76
|
(.01
|
)
|
—
|
*
|
1.76
|
(.98
|
)
|
(.07
|
)
|
(1.05
|
)
|
—
|
14.79
|
14.92
|
||||||||||||||||||||
2009
|
12.12
|
1.10
|
1.76
|
(.06
|
)
|
—
|
2.80
|
(.84
|
)
|
—
|
(.84
|
)
|
—
|
14.08
|
13.41
|
||||||||||||||||||||||
2008
|
15.20
|
1.08
|
(3.06
|
)
|
(.30
|
)
|
(.01
|
)
|
(2.29
|
)
|
(.77
|
)
|
(.02
|
)
|
(.79
|
)
|
—
|
12.12
|
11.41
|
||||||||||||||||||
2007
|
15.88
|
1.07
|
(.63
|
)
|
(.29
|
)
|
—
|
.15
|
(.83
|
)
|
—
|
(.83
|
)
|
—
|
15.20
|
13.95
|
|||||||||||||||||||||
2006
|
15.70
|
1.08
|
.27
|
(.26
|
)
|
—
|
1.09
|
(.90
|
)
|
(.01
|
)
|
(.91
|
)
|
—
|
15.88
|
15.85
|
ARPS
at End of Period
|
VMTP Shares
at End of Period
|
VRDP Shares
at End of Period
|
||||||||||||||||||||||||||
Aggregate
Amount
Outstanding
(000)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
||||||||||||||||||||
Performance Plus (NPP)
|
||||||||||||||||||||||||||||
Year Ended 10/31:
|
||||||||||||||||||||||||||||
2011(f)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
421,700
|
$
|
100,000
|
$
|
296,645
|
$
|
—
|
$
|
—
|
$
|
—
|
||||||||||
2010
|
419,900
|
25,000
|
79,546
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2009
|
419,900
|
25,000
|
76,790
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2008
|
439,650
|
25,000
|
68,244
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2007
|
479,000
|
25,000
|
72,603
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2006
|
479,000
|
25,000
|
74,333
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
Municipal Advantage (NMA)
|
||||||||||||||||||||||||||||
Year Ended 10/31:
|
||||||||||||||||||||||||||||
2011(f)
|
—
|
—
|
—
|
—
|
—
|
—
|
296,800
|
100,000
|
296,054
|
|||||||||||||||||||
2010
|
—
|
—
|
—
|
—
|
—
|
—
|
296,800
|
100,000
|
316,430
|
|||||||||||||||||||
2009
|
293,200
|
25,000
|
76,911
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2008
|
341,650
|
25,000
|
63,314
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2007
|
358,000
|
25,000
|
70,866
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||
2006
|
358,000
|
25,000
|
72,743
|
—
|
—
|
—
|
—
|
—
|
—
|
88
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares(c)(d)
|
||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
Including
Interest
|
(e)
|
Expenses
Excluding
Interest
|
Net
Investment
Income
|
Portfolio
Turnover
Rate
|
|||||||||||
(7.33
|
)%
|
(5.76
|
)%
|
$
|
829,253
|
1.45
|
%**
|
1.13
|
%**
|
7.27
|
%**
|
5
|
%
|
||||||||
18.65
|
12.07
|
916,152
|
1.13
|
1.10
|
6.93
|
14
|
|||||||||||||||
24.78
|
21.20
|
869,873
|
1.23
|
1.18
|
7.59
|
6
|
|||||||||||||||
(10.71
|
)
|
(12.49
|
)
|
760,496
|
1.25
|
1.17
|
6.96
|
9
|
|||||||||||||
(4.97
|
)
|
1.53
|
912,066
|
1.16
|
1.14
|
6.38
|
6
|
||||||||||||||
10.78
|
7.50
|
945,222
|
1.15
|
1.15
|
6.44
|
9
|
|||||||||||||||
(9.60
|
)
|
(6.13
|
)
|
581,888
|
2.10
|
**
|
1.79
|
**
|
7.09
|
**
|
8
|
||||||||||
19.58
|
12.90
|
642,364
|
1.66
|
1.46
|
7.04
|
16
|
|||||||||||||||
25.70
|
23.89
|
608,813
|
1.31
|
1.22
|
8.51
|
9
|
|||||||||||||||
(13.16
|
)
|
(15.65
|
)
|
523,602
|
1.38
|
1.21
|
7.50
|
13
|
|||||||||||||
(7.08
|
)
|
1.06
|
656,806
|
1.40
|
1.17
|
6.87
|
10
|
||||||||||||||
10.68
|
7.16
|
683,675
|
1.18
|
1.18
|
6.92
|
11
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(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 Common Share Net Asset Value is the combination of changes in Common share 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)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income ratios reflect income earned and expenses incurred on assets attributable to ARPS, VMTP shares and/or VRDP shares, where applicable.
|
(d)
|
Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable.
|
(e)
|
The expense ratios reflect, among other things, payments to VMTP shareholders, VRDP shareholders and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Footnote 1 – General Information and Significant Accounting Policies, Variable MuniFund Term Preferred shares, Variable Rate Demand Preferred Shares and Inverse Floating Rate Securities, respectively.
|
(f)
|
For the six months ended April 30, 2011.
|
*
|
Rounds to less than $.01 per share.
|
**
|
Annualized.
|
Nuveen Investments
|
89
|
Financial
|
||
Highlights (Unaudited) (continued)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
||||||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share–
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share–
holders
|
Total
|
Discount
from
Common
Shares
Repur-
chased
and
Retired
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
|||||||||||||||||||||||
Market Opportunity (NMO)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
$
|
14.17
|
$
|
.44
|
$
|
(1.57
|
)
|
$
|
—
|
$
|
—
|
$
|
(1.13
|
)
|
$
|
(.49
|
)
|
$
|
—
|
$
|
(.49
|
)
|
$
|
—
|
$
|
12.55
|
$
|
12.43
|
|||||||||
2010
|
13.59
|
.99
|
.56
|
(.01
|
)
|
—
|
1.54
|
(.96
|
)
|
—
|
(.96
|
)
|
—
|
14.17
|
14.55
|
||||||||||||||||||||||
2009
|
12.23
|
1.10
|
1.13
|
(.06
|
)
|
—
|
2.17
|
(.81
|
)
|
—
|
(.81
|
)
|
—
|
13.59
|
13.32
|
||||||||||||||||||||||
2008
|
14.83
|
1.03
|
(2.59
|
)
|
(.31
|
)
|
—
|
(1.87
|
)
|
(.73
|
)
|
—
|
(.73
|
)
|
—
|
12.23
|
11.52
|
||||||||||||||||||||
2007
|
15.41
|
1.04
|
(.56
|
)
|
(.30
|
)
|
—
|
.18
|
(.76
|
)
|
—
|
(.76
|
)
|
—
|
14.83
|
13.53
|
|||||||||||||||||||||
2006
|
15.14
|
1.02
|
.34
|
(.26
|
)
|
—
|
1.10
|
(.83
|
)
|
—
|
(.83
|
)
|
—
|
15.41
|
15.00
|
||||||||||||||||||||||
Dividend Advantage (NAD)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
14.68
|
.47
|
(1.46
|
)
|
(.01
|
)
|
—
|
(1.00
|
)
|
(.46
|
)
|
—
|
(.46
|
)
|
—
|
13.22
|
12.76
|
||||||||||||||||||||
2010
|
13.89
|
1.00
|
.72
|
(.02
|
)
|
—
|
1.70
|
(.91
|
)
|
—
|
(.91
|
)
|
—
|
14.68
|
14.40
|
||||||||||||||||||||||
2009
|
11.77
|
1.07
|
1.93
|
(.05
|
)
|
—
|
2.95
|
(.83
|
)
|
—
|
(.83
|
)
|
—
|
13.89
|
12.89
|
||||||||||||||||||||||
2008
|
14.90
|
1.05
|
(3.14
|
)
|
(.27
|
)
|
—
|
(2.36
|
)
|
(.77
|
)
|
—
|
(.77
|
)
|
—
|
11.77
|
10.72
|
||||||||||||||||||||
2007
|
15.54
|
1.04
|
(.60
|
)
|
(.27
|
)
|
—
|
.17
|
(.81
|
)
|
—
|
(.81
|
)
|
—
|
14.90
|
13.63
|
|||||||||||||||||||||
2006
|
15.28
|
1.04
|
.32
|
(.24
|
)
|
—
|
1.12
|
(.86
|
)
|
—
|
(.86
|
)
|
—
|
15.54
|
15.30
|
ARPS
at End of Period
|
MTP Shares
at End of Period
|
ARPS
and
MTP
Shares
at End
of Period
|
VRDP Shares
at End of Period
|
||||||||||||||||||||||||||||||||||
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Ending
Market
Value
Per Share
|
Average
Market
Value
Per Share
|
Asset
Coverage
Per Share
|
Asset
Coverage
Per $1
Liquidation
Preference
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
|||||||||||||||||||||||
Market Opportunity (NMO)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
350,900
|
$
|
100,000
|
$
|
263,857
|
|||||||||||||
2010
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
350,900
|
100,000
|
284,673
|
|||||||||||||||||||||||||
2009
|
346,675
|
25,000
|
69,661
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2008
|
361,675
|
25,000
|
63,525
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2007
|
380,000
|
25,000
|
69,446
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2006
|
380,000
|
25,000
|
71,155
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
Dividend Advantage (NAD)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
120,075
|
25,000
|
74,134
|
144,300
|
10.00
|
10.01
|
10.02
|
29.65
|
2.97
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2010
|
120,075
|
25,000
|
79,553
|
144,300
|
10.00
|
10.10
|
10.10
|
^
|
31.82
|
3.18
|
—
|
—
|
—
|
||||||||||||||||||||||||
2009
|
261,800
|
25,000
|
77,095
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2008
|
266,800
|
25,000
|
68,343
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2007
|
295,000
|
25,000
|
74,618
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2006
|
295,000
|
25,000
|
76,722
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
90
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
|||||||||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
Including
Interest
|
(e)
|
Expenses
Excluding
Interest
|
Net
Investment
Income
|
Expenses
Including
Interest
|
(e)
|
Expenses
Excluding
Interest
|
Net
Investment
Income
|
Portfolio
Turnover
Rate
|
|||||||||||||||
(11.20
|
)%
|
(7.94
|
)%
|
$
|
574,974
|
2.22
|
%*
|
1.89
|
%*
|
7.04
|
%*
|
N/A
|
N/A
|
N/A
|
6
|
%
|
|||||||||||||
17.03
|
11.71
|
648,017
|
1.70
|
1.50
|
7.17
|
N/A
|
N/A
|
N/A
|
26
|
||||||||||||||||||||
23.67
|
18.30
|
619,319
|
1.32
|
1.25
|
8.58
|
N/A
|
N/A
|
N/A
|
10
|
||||||||||||||||||||
(9.87
|
)
|
(13.07
|
)
|
557,346
|
1.36
|
1.23
|
7.33
|
N/A
|
N/A
|
N/A
|
8
|
||||||||||||||||||
(5.00
|
)
|
1.20
|
675,577
|
1.38
|
1.19
|
6.87
|
N/A
|
N/A
|
N/A
|
5
|
|||||||||||||||||||
11.92
|
7.49
|
701,559
|
1.19
|
1.19
|
6.73
|
N/A
|
N/A
|
N/A
|
14
|
||||||||||||||||||||
(8.20
|
)
|
(6.81
|
)
|
519,587
|
2.02
|
*
|
1.22
|
*
|
7.09
|
*
|
2.02
|
%*
|
1.22
|
%*
|
7.09
|
%*
|
10
|
||||||||||||
19.17
|
12.60
|
576,895
|
1.61
|
1.13
|
6.99
|
1.61
|
1.13
|
6.99
|
8
|
||||||||||||||||||||
28.86
|
25.78
|
545,534
|
1.26
|
1.17
|
8.38
|
1.21
|
1.12
|
8.43
|
9
|
||||||||||||||||||||
(16.46
|
)
|
(16.42
|
)
|
462,554
|
1.36
|
1.15
|
7.33
|
1.22
|
1.02
|
7.46
|
11
|
||||||||||||||||||
(5.96
|
)
|
1.10
|
585,496
|
1.24
|
1.13
|
6.60
|
1.03
|
.92
|
6.81
|
11
|
|||||||||||||||||||
11.19
|
7.59
|
610,316
|
1.12
|
1.12
|
6.54
|
.85
|
.85
|
6.81
|
8
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(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 Common Share Net Asset Value is the combination of changes in Common share 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)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income ratios reflect income earned and expenses incurred on assets attributable to ARPS, MTP shares and/or VRDP shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable. As of July 31, 2009, the Adviser is no longer reimbursing Dividend Advantage (NAD) for any fees and expenses.
|
(e)
|
The expense ratios reflect, among other things, payments to MTP shareholders, VRDP shareholders and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Footnote 1 – General Information and Significant Accounting Polices, MuniFund Term Preferred Shares, Variable Rate Demand Preferred Shares and Inverse Floating Rate Securities, respectively.
|
(f)
|
For the six months ended April 30, 2011.
|
^
|
For the period March 16, 2010 (issuance date of shares) through October 31, 2010.
|
N/A
|
Fund does not have a contractual reimbursement agreement with the Adviser.
|
*
|
Annualized.
|
Nuveen Investments
|
91
|
Financial
|
||
Highlights (Unaudited) (continued)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
||||||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share–
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share–
holders
|
Total
|
Discount
from
Common
Shares
Repur-
chased
and
Retired
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
|||||||||||||||||||||||
Dividend Advantage 2 (NXZ)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
$
|
14.76
|
$
|
.49
|
$
|
(1.36
|
)
|
$
|
—
|
$
|
—
|
$
|
(.87
|
)
|
$
|
(.48
|
)
|
$
|
—
|
$
|
(.48
|
)
|
$
|
—
|
$
|
13.41
|
$
|
12.93
|
|||||||||
2010
|
14.45
|
1.02
|
.26
|
—
|
—
|
1.28
|
(.97
|
)
|
—
|
(.97
|
)
|
—
|
14.76
|
14.67
|
|||||||||||||||||||||||
2009
|
12.71
|
1.04
|
1.59
|
—
|
—
|
2.63
|
(.89
|
)
|
—
|
(.89
|
)
|
—
|
14.45
|
14.14
|
|||||||||||||||||||||||
2008
|
15.55
|
1.05
|
(2.81
|
)
|
(.20
|
)
|
—
|
(1.96
|
)
|
(.88
|
)
|
—
|
(.88
|
)
|
—
|
12.71
|
12.35
|
||||||||||||||||||||
2007
|
16.02
|
1.13
|
(.43
|
)
|
(.27
|
)
|
—
|
.43
|
(.90
|
)
|
—
|
(.90
|
)
|
—
|
15.55
|
15.48
|
|||||||||||||||||||||
2006
|
15.80
|
1.12
|
.32
|
(.24
|
)
|
—
|
1.20
|
(.98
|
)
|
—
|
(.98
|
)
|
—
|
16.02
|
16.50
|
||||||||||||||||||||||
Dividend Advantage 3 (NZF)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
14.74
|
.51
|
(1.04
|
)
|
(.01
|
)
|
—
|
*
|
(.54
|
)
|
(.49
|
)
|
(.02
|
)
|
(.51
|
)
|
—
|
13.69
|
13.20
|
||||||||||||||||||
2010
|
14.19
|
1.06
|
.52
|
(.02
|
)
|
—
|
*
|
1.56
|
(.95
|
)
|
(.06
|
)
|
(1.01
|
)
|
—
|
14.74
|
14.58
|
||||||||||||||||||||
2009
|
12.10
|
1.08
|
1.91
|
(.05
|
)
|
—
|
2.94
|
(.85
|
)
|
—
|
(.85
|
)
|
—
|
14.19
|
13.38
|
||||||||||||||||||||||
2008
|
15.03
|
1.06
|
(2.95
|
)
|
(.27
|
)
|
—
|
(2.16
|
)
|
(.77
|
)
|
—
|
(.77
|
)
|
—
|
12.10
|
10.72
|
||||||||||||||||||||
2007
|
15.54
|
1.07
|
(.44
|
)
|
(.27
|
)
|
(.01
|
)
|
.35
|
(.84
|
)
|
(.02
|
)
|
(.86
|
)
|
—
|
15.03
|
13.85
|
|||||||||||||||||||
2006
|
15.32
|
1.07
|
.29
|
(.24
|
)
|
—
|
1.12
|
(.90
|
)
|
—
|
(.90
|
)
|
—
|
15.54
|
15.88
|
ARPS
at End of Period
|
MTP Shares
at End of Period
|
ARPS
and
MTP
Shares
at End
of Period
|
VRDP Shares
at End of Period
|
||||||||||||||||||||||||||||||||||
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Ending
Market
Value
Per Share
|
Average
Market
Value
Per Share
|
Asset
Coverage
Per Share
|
Asset
Coverage
Per $1
Liquidation
Preference
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
|||||||||||||||||||||||
Dividend Advantage 2 (NXZ)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
196,000
|
$
|
100,000
|
$
|
301,507
|
|||||||||||||
2010
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
196,000
|
100,000
|
321,819
|
|||||||||||||||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
196,000
|
100,000
|
316,966
|
|||||||||||||||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
196,000
|
100,000
|
290,785
|
|||||||||||||||||||||||||
2007
|
222,000
|
25,000
|
76,463
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2006
|
222,000
|
25,000
|
77,949
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
Dividend Advantage 3 (NZF)
|
|||||||||||||||||||||||||||||||||||||
Year Ended 10/31:
|
|||||||||||||||||||||||||||||||||||||
2011(f)
|
168,400
|
25,000
|
82,991
|
70,000
|
10.00
|
10.02
|
9.99
|
^
|
33.20
|
3.32
|
—
|
—
|
—
|
||||||||||||||||||||||||
2010
|
236,950
|
25,000
|
87,821
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2009
|
236,950
|
25,000
|
85,465
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2008
|
270,775
|
25,000
|
70,108
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2007
|
312,000
|
25,000
|
73,630
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||
2006
|
312,000
|
25,000
|
75,227
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
92
|
Nuveen Investments
|
Ratios/Supplemental Data
|
||||||||||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
||||||||||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
Including
Interest
|
(e)
|
Expenses
Excluding
Interest
|
Net
Investment
Income
|
Expenses
Including
Interest
|
(e)
|
Expenses
Excluding
Interest
|
Net
Investment
Income
|
Portfolio
Turnover
Rate
|
||||||||||||||||
(8.62
|
)%
|
(5.88
|
)%
|
$
|
394,954
|
1.88
|
%**
|
1.61
|
%**
|
7.25
|
%**
|
1.81
|
%**
|
1.55
|
%**
|
7.31
|
%**
|
15
|
%
|
|||||||||||
10.89
|
9.12
|
434,764
|
1.79
|
1.57
|
6.85
|
1.68
|
1.47
|
6.95
|
5
|
|||||||||||||||||||||
22.63
|
21.41
|
425,253
|
1.91
|
1.47
|
7.59
|
1.73
|
1.29
|
7.77
|
2
|
|||||||||||||||||||||
(15.21
|
)
|
(13.23
|
)
|
373,940
|
1.71
|
1.22
|
6.82
|
1.45
|
.96
|
7.08
|
10
|
|||||||||||||||||||
(.78
|
)
|
2.76
|
456,992
|
1.25
|
1.11
|
6.83
|
.93
|
.79
|
7.16
|
5
|
||||||||||||||||||||
11.95
|
7.86
|
470,189
|
1.11
|
1.11
|
6.70
|
.72
|
.72
|
7.09
|
5
|
|||||||||||||||||||||
(5.95
|
)
|
(3.63
|
)
|
553,001
|
1.47
|
**
|
1.12
|
**
|
7.35
|
**
|
1.39
|
**
|
1.04
|
**
|
7.43
|
**
|
9
|
|||||||||||||
17.04
|
11.41
|
595,413
|
1.17
|
1.08
|
7.21
|
1.02
|
.93
|
7.36
|
7
|
|||||||||||||||||||||
33.89
|
25.08
|
573,088
|
1.26
|
1.15
|
7.98
|
1.04
|
.92
|
8.20
|
2
|
|||||||||||||||||||||
(17.85
|
)
|
(14.99
|
)
|
488,561
|
1.34
|
1.15
|
7.08
|
1.04
|
.85
|
7.37
|
7
|
|||||||||||||||||||
(7.72
|
)
|
2.31
|
606,908
|
1.32
|
1.13
|
6.65
|
.94
|
.76
|
7.02
|
14
|
||||||||||||||||||||
16.90
|
7.57
|
626,836
|
1.13
|
1.13
|
6.51
|
.68
|
.68
|
6.96
|
9
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(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 Common Share Net Asset Value is the combination of changes in Common share 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)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income ratios reflect income earned and expenses incurred on assets attributable to ARPS, MTP shares and/or VRDP shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable. As of March 31, 2011, the Adviser is no longer reimbursing Dividend Advantage 2 (NXZ) for any fees and expenses.
|
(e)
|
The expense ratios reflect, among other things, payments to MTP shareholders, VRDP shareholders and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Footnote 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred shares, Variable Rate Demand Preferred Shares and Inverse Floating Rate Securities, respectively.
|
(f)
|
For the six months ended April 30, 2011.
|
*
|
Rounds to less than $.01 per share.
|
**
|
Annualized.
|
^
|
For the period December 20, 2010 (issuance date of shares) through April 30, 2011.
|
Nuveen Investments
|
93
|
Notes to
|
||
Financial Statements (Unaudited)
|
94
|
Nuveen Investments
|
Dividend
Advantage
|
Dividend
Advantage 3
|
||||||
(NAD
|
)
|
(NZF
|
)
|
||||
Number of shares:
|
|||||||
Series M
|
1,628
|
—
|
|||||
Series T
|
1,628
|
—
|
|||||
Series W
|
—
|
2,246
|
|||||
Series TH
|
1,547
|
2,245
|
|||||
Series F
|
—
|
2,245
|
|||||
Total
|
4,803
|
6,736
|
Nuveen Investments
|
95
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||||||||
(NPP
|
)
|
(NMA
|
)
|
(NMO
|
)
|
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
||||||||
ARPS redeemed, at liquidation value
|
$
|
479,000,000
|
$
|
358,000,000
|
$
|
380,000,000
|
$
|
174,925,000
|
$
|
222,000,000
|
$
|
143,600,000
|
Dividend Advantage (NAD)
|
Dividend Advantage 3 (NZF)
|
||||||||||||||||||
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
||||||||||||||
Series:
|
|||||||||||||||||||
2015
|
14,430,000
|
2.70
|
%
|
NAD Pr C
|
—
|
—
|
—
|
||||||||||||
2016
|
—
|
—
|
—
|
7,000,000
|
2.80
|
%
|
NZF Pr C
|
Dividend
Advantage
|
Dividend
Advantage 3
|
||||||
(NAD
|
)
|
(NZF
|
)
|
||||
Series 2015
|
Series 2016
|
||||||
Term Redemption Date
|
April 1, 2015
|
January 1, 2016
|
|||||
Optional Redemption Date
|
April 1, 2011
|
January 1, 2012
|
|||||
Premium Expiration Date
|
March 31, 2012
|
December 31, 2012
|
Dividend
Advantage
|
Dividend
Advantage 3
|
||||||
(NAD
|
)
|
(NZF
|
)*
|
||||
Average liquidation value of MTP Shares outstanding
|
$
|
144,300,000
|
$
|
69,696,970
|
*
|
For the period December 20, 2010 (issuance date of shares) through April 30, 2011.
|
96
|
Nuveen Investments
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage 2
|
||||||||
(NMA
|
)
|
(NMO
|
)
|
(NXZ
|
)
|
|||||
Series
|
1
|
1
|
2
|
|||||||
Shares outstanding
|
2,968
|
3,509
|
1,960
|
|||||||
Maturity
|
March 1, 2040
|
March 1, 2040
|
August 1, 2040
|
Nuveen Investments
|
97
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage 2
|
||||||||
(NMA
|
)
|
(NMO
|
)
|
(NXZ
|
)
|
|||||
Average liquidation value outstanding
|
$
|
296,800,000
|
$
|
350,900,000
|
$
|
196,000,000
|
||||
Annualized dividend rate
|
0.47
|
%
|
0.47
|
%
|
0.44
|
%
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||||||||
(NPP
|
)
|
(NMA
|
)
|
(NMO
|
)
|
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
||||||||
Maximum exposure to Recourse Trusts
|
$
|
18,750,000
|
$
|
11,250,000
|
$
|
7,500,000
|
$
|
11,250,000
|
$
|
5,250,000
|
$
|
—
|
98
|
Nuveen Investments
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||||||||
(NPP)
|
(NMA)
|
(NMO)
|
(NAD)
|
(NXZ)
|
(NZF)
|
||||||||||||||
Average floating rate obligations outstanding
|
$
|
41,685,221
|
$
|
64,814,024
|
$
|
43,530,000
|
$
|
51,605,000
|
$
|
26,660,000
|
$
|
66,668,464
|
|||||||
Average annual interest rate and fees
|
0.75
|
%
|
0.67
|
%
|
0.62
|
%
|
0.55
|
%
|
0.71
|
%
|
0.71
|
%
|
Nuveen Investments
|
99
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Level 1 – Quoted prices in active markets for identical securities.
|
|
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
|
|
Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
|
Performance Plus (NPP)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
1,263,296,465
|
$
|
—
|
$
|
1,263,296,465
|
Municipal Advantage (NMA)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
912,124,688
|
$
|
75,150
|
$
|
912,199,838
|
Market Opportunity (NMO)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
937,587,364
|
$
|
—
|
$
|
937,587,364
|
Dividend Advantage (NAD)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
814,436,376
|
$
|
75,150
|
$
|
814,511,526
|
|||||
Investment Companies
|
513,259
|
—
|
—
|
513,259
|
|||||||||
Total
|
$
|
513,259
|
$
|
814,436,376
|
$
|
75,150
|
$
|
815,024,785
|
Dividend Advantage 2 (NXZ)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
591,162,570
|
$
|
—
|
$
|
591,162,570
|
Dividend Advantage 3 (NZF)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
823,991,512
|
$
|
180,360
|
$
|
824,171,872
|
|||||
Investment Companies
|
3,231,277
|
—
|
—
|
3,231,277
|
|||||||||
Short-Term Investments
|
—
|
4,730,000
|
—
|
4,730,000
|
|||||||||
Total
|
$
|
3,231,277
|
$
|
828,721,512
|
$
|
180,360
|
$
|
832,133,149
|
100
|
Nuveen Investments
|
Municipal
Advantage
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
||||||||||
(NMA
|
)
|
(NAD
|
)
|
(NXZ
|
)
|
(NZF
|
)
|
||||||
Level 3
Municipal Bonds
|
Level 3
Municipal Bonds
|
Level 3
Municipal Bonds
|
Level 3
Municipal Bonds
|
||||||||||
Balance at the beginning of period
|
$
|
462,475
|
$
|
78,062
|
$
|
2,333,250
|
$
|
187,349
|
|||||
Gains (losses):
|
|||||||||||||
Net realized gains (losses)
|
6,799
|
6,799
|
—
|
(17,141
|
)
|
||||||||
Net change in unrealized appreciation (depreciation)
|
(133,025
|
)
|
(9,711
|
)
|
(748,519
|
)
|
10,152
|
||||||
Purchases at cost
|
—
|
—
|
—
|
—
|
|||||||||
Sales at proceeds
|
—
|
—
|
—
|
—
|
|||||||||
Net discounts (premiums)
|
—
|
—
|
49
|
—
|
|||||||||
Transfers in to
|
—
|
—
|
—
|
—
|
|||||||||
Transfers out of
|
(261,099
|
)
|
—
|
(1,584,780
|
)
|
—
|
|||||||
Balance at the end of period
|
$
|
75,150
|
$
|
75,150
|
$
|
—
|
$
|
180,360
|
|||||
Net change in unrealized appreciation (depreciation) during the period of Level 3 securities held as of April 30, 2011
|
$
|
(9,711
|
)
|
$
|
(9,711
|
)
|
$
|
—
|
$
|
10,152
|
Performance Plus (NPP)
|
Municipal
Advantage (NMA)
|
Market
Opportunity (NMO)
|
|||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||
Common shares issued to shareholders due to reinvestment of distributions
|
19,498
|
18,891
|
64,969
|
202,701
|
80,513
|
170,873
|
Dividend
Advantage (NAD)
|
Dividend
Advantage 2 (NXZ)
|
Dividend
Advantage 3 (NZF)
|
|||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||
Common shares issued to shareholders due to reinvestment of distributions
|
4,564
|
4,490
|
4,192
|
21,264
|
4,537
|
9,310
|
Nuveen Investments
|
101
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Performance Plus (NPP)
|
Municipal Advantage (NMA)
|
||||||||||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
ARPS redeemed:
|
|||||||||||||||||||||||||
Series M
|
3,507
|
$
|
87,675,000
|
—
|
$
|
—
|
—
|
$
|
—
|
2,457
|
$
|
61,425,000
|
|||||||||||||
Series T
|
3,506
|
87,650,000
|
—
|
—
|
—
|
—
|
2,457
|
61,425,000
|
|||||||||||||||||
Series W
|
3,505
|
87,625,000
|
—
|
—
|
—
|
—
|
2,456
|
61,400,000
|
|||||||||||||||||
Series TH
|
2,770
|
69,250,000
|
—
|
—
|
—
|
—
|
1,901
|
47,525,000
|
|||||||||||||||||
Series F
|
3,508
|
87,700,000
|
—
|
—
|
—
|
—
|
2,457
|
61,425,000
|
|||||||||||||||||
Total
|
16,796
|
$
|
419,900,000
|
—
|
$
|
—
|
—
|
$
|
—
|
11,728
|
$
|
293,200,000
|
Market Opportunity (NMO)
|
Dividend Advantage (NAD)
|
||||||||||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
ARPS redeemed:
|
|||||||||||||||||||||||||
Series M
|
—
|
$
|
—
|
3,649
|
$
|
91,225,000
|
—
|
$
|
—
|
1,922
|
$
|
48,050,000
|
|||||||||||||
Series T
|
—
|
—
|
3,648
|
91,200,000
|
—
|
—
|
1,921
|
48,025,000
|
|||||||||||||||||
Series W
|
—
|
—
|
2,920
|
73,000,000
|
—
|
—
|
—
|
—
|
|||||||||||||||||
Series TH
|
—
|
—
|
—
|
—
|
—
|
—
|
1,826
|
45,650,000
|
|||||||||||||||||
Series F
|
—
|
—
|
3,650
|
91,250,000
|
—
|
—
|
—
|
—
|
|||||||||||||||||
Total
|
—
|
$
|
—
|
13,867
|
$
|
346,675,000
|
—
|
$
|
—
|
5,669
|
$
|
141,725,000
|
Dividend Advantage 3 (NZF)
|
|||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||
ARPS redeemed:
|
|||||||||||||
Series W
|
913
|
$
|
22,825,000
|
—
|
$
|
—
|
|||||||
Series TH
|
914
|
22,850,000
|
—
|
—
|
|||||||||
Series F
|
915
|
22,875,000
|
—
|
—
|
|||||||||
Total
|
2,742
|
$
|
68,550,000
|
—
|
$
|
—
|
Dividend Advantage (NAD)
|
Dividend Advantage 3 (NZF)
|
||||||||||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
MTP Shares issued:
|
|||||||||||||||||||||||||
Series 2015
|
—
|
$
|
—
|
14,430,000
|
$
|
144,300,000
|
—
|
$
|
—
|
—
|
$
|
—
|
|||||||||||||
Series 2016
|
—
|
—
|
—
|
—
|
7,000,000
|
70,000,000
|
—
|
—
|
|||||||||||||||||
Total
|
—
|
$
|
—
|
14,430,000
|
$
|
144,300,000
|
7,000,000
|
$
|
70,000,000
|
—
|
$
|
—
|
102
|
Nuveen Investments
|
Performance Plus (NPP)
|
|||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||
VMTP Shares issued:
|
|||||||||||||
Series 2014
|
4,217
|
$
|
421,700,000
|
—
|
$
|
—
|
Municipal Advantage (NMA)
|
Market Opportunity (NMO)
|
||||||||||||||||||||||||
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
Six Months
Ended
4/30/11
|
Year
Ended
10/31/10
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
VRDP Shares issued:
|
|||||||||||||||||||||||||
Series 1
|
—
|
$
|
—
|
2,968
|
$
|
296,800,000
|
—
|
$
|
—
|
3,509
|
$
|
350,900,000
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
|||||||||||||||||||
(NPP | ) | (NMA | ) | (NMO | ) | (NAD | ) | (NXZ | ) | (NZF | ) | |||||||||||||
Purchases
|
$ | 61,152,069 | $ | 78,690,787 | $ | 72,867,258 | $ | 81,244,089 | $ | 89,709,257 | $ | 78,303,221 | ||||||||||||
Sales and maturities
|
83,859,031 | 94,773,516 | 53,454,071 | 81,902,551 | 98,572,064 | 95,276,606 |
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
|||||||||||||||||||
(NPP | ) | (NMA | ) | (NMO | ) | (NAD | ) | (NXZ | ) | (NZF | ) | |||||||||||||
Cost of investments
|
$ | 1,245,339,730 | $ | 894,038,957 | $ | 960,904,206 | $ | 804,357,926 | $ | 595,281,638 | $ | 800,950,023 | ||||||||||||
Gross unrealized:
|
||||||||||||||||||||||||
Appreciation
|
$ | 45,100,548 | $ | 23,152,833 | $ | 19,779,376 | $ | 25,270,634 | $ | 16,007,937 | $ | 17,609,234 | ||||||||||||
Depreciation
|
(67,963,829 | ) | (64,779,805 | ) | (86,626,560 | ) | (66,209,355 | ) | (46,794,161 | ) | (47,506,235 | ) | ||||||||||||
Net unrealized appreciation (depreciation) of investments
|
$ | (22,863,281 | ) | $ | (41,626,972 | ) | $ | (66,847,184 | ) | $ | (40,938,721 | ) | $ | (30,786,224 | ) | $ | (29,897,001 | ) |
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
|||||||||||||||||||
(NPP | ) | (NMA | ) | (NMO | ) | (NAD | ) | (NXZ | ) | (NZF | ) | |||||||||||||
Paid-in surplus
|
$ | (14,354 | ) | $ | (44,077 | ) | $ | (82,335 | ) | $ | (319,910 | ) | $ | (710,096 | ) | $ | — | |||||||
Undistributed (Over-distribution of) net investment income
|
(295,300 | ) | 40,235 | (118,648 | ) | 318,426 | 635,555 | (3,071 | ) | |||||||||||||||
Accumulated net realized gain (loss)
|
309,654 | 3,842 | 200,983 | 1,484 | 74,541 | 3,071 |
Nuveen Investments
|
103
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
|||||||||||||||||||
(NPP | ) | (NMA | ) | (NMO | ) | (NAD | ) | (NXZ | ) | (NZF | ) | |||||||||||||
Undistributed net tax-exempt income *
|
$ | 19,969,255 | $ | 11,572,786 | $ | 12,834,483 | $ | 11,751,685 | $ | 7,112,008 | $ | 13,088,050 | ||||||||||||
Undistributed net ordinary income **
|
496,191 | 403,062 | 28,857 | 25,093 | 486 | — | ||||||||||||||||||
Undistributed net long-term capital gains
|
5,536,530 | 3,489,441 | — | — | — | 640,607 |
*
|
Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on October 1, 2010, paid on November 1, 2010.
|
**
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
Performance
Plus
|
Municipal
Advantage
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
Dividend
Advantage 3
|
|||||||||||||||||||
(NPP | ) | (NMA | ) | (NMO | ) | (NAD | ) | (NXZ | ) | (NZF | ) | |||||||||||||
Distributions from net tax-exempt income
|
$ | 56,430,144 | $ | 43,084,415 | $ | 45,084,665 | $ | 38,498,093 | $ | 28,872,454 | $ | 39,033,313 | ||||||||||||
Distributions from net ordinary income **
|
23,738 | 63,961 | — | — | 409,165 | 830,966 | ||||||||||||||||||
Distributions from net long-term capital gains
|
863,865 | 3,011,399 | — | — | — | 1,901,758 |
**
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
||||||||||
(NMO | ) | (NAD | ) | (NXZ | ) | |||||||
Expiration:
|
||||||||||||
October 31, 2011
|
$ | — | $ | 3,513,691 | $ | — | ||||||
October 31, 2013
|
— | 104,762 | — | |||||||||
October 31, 2014
|
1,437,187 | — | — | |||||||||
October 31, 2015
|
1,902,879 | — | 862,140 | |||||||||
October 31, 2016
|
1,398,166 | — | — | |||||||||
October 31, 2017
|
— | 424,278 | — | |||||||||
Total
|
$ | 4,738,232 | $ | 4,042,731 | $ | 862,140 |
Market
Opportunity
|
Dividend
Advantage
|
Dividend
Advantage 2
|
||||||||||
(NMO
|
) |
(NAD
|
) |
(NXZ
|
) | |||||||
Utilized capital loss carryforwards
|
$ | 6,894,937 | $ | 1,080,609 | $ | 1,524,632 |
104
|
Nuveen Investments
|
Performance Plus (NPP) | ||
Municipal Advantage (NMA) | ||
Market Opportunity (NMO) | ||
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
|
For the first $125 million
|
.4500
|
%
|
For the next $125 million
|
.4375
|
|
For the next $250 million
|
.4250
|
|
For the next $500 million
|
.4125
|
|
For the next $1 billion
|
.4000
|
|
For the next $3 billion
|
.3875
|
|
For managed assets over $5 billion
|
.3750
|
Dividend Advantage (NAD) | ||
Dividend Advantage 2 (NXZ) | ||
Dividend Advantage 3 (NZF) | ||
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
|
For the first $125 million
|
.4500
|
%
|
For the next $125 million
|
.4375
|
|
For the next $250 million
|
.4250
|
|
For the next $500 million
|
.4125
|
|
For the next $1 billion
|
.4000
|
|
For managed assets over $2 billion
|
.3750
|
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 or 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 April 30, 2011, the complex-level fee rate for these Funds was .1785%.
|
Nuveen Investments
|
105
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Year Ending
March 31,
|
Year Ending
March 31,
|
|||||
2001*
|
.30
|
%
|
2007
|
.25
|
%
|
|
2002
|
.30
|
2008
|
.20
|
|||
2003
|
.30
|
2009
|
.15
|
|||
2004
|
.30
|
2010
|
.10
|
|||
2005
|
.30
|
2011
|
.05
|
|||
2006
|
.30
|
*
|
From the commencement of operations.
|
Year Ending
|
Year Ending
|
|||||
September 30,
|
September 30,
|
|||||
2001*
|
.30
|
%
|
2007
|
.25
|
%
|
|
2002
|
.30
|
2008
|
.20
|
|||
2003
|
.30
|
2009
|
.15
|
|||
2004
|
.30
|
2010
|
.10
|
|||
2005
|
.30
|
2011
|
.05
|
|||
2006
|
.30
|
*
|
From the commencement of operations.
|
Municipal
|
||||
Advantage
|
||||
(NMA | ) | |||
Capital gains distribution per share
|
$ | 0.0783 |
106
|
Nuveen Investments
|
Nuveen Investments
|
107
|
108
|
Nuveen Investments
|
Nuveen Investments
|
109
|
■
|
Auction Rate Bond: An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have “failed,” with current holders receiving a formula-based interest rate until the next scheduled auction.
|
■
|
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.
|
■
|
Average Effective Maturity: The market-value-weighted average of the effective maturity dates of the individual securities including cash. In the case of a bond that has been advance-refunded to a call date, the effective maturity is the date on which the bond is scheduled to be redeemed using the proceeds of an escrow account. In most other cases the effective maturity is the stated maturity date of the security.
|
■
|
Inverse Floaters: Inverse floating rate securities, also known as inverse floaters, are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a Fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.
|
■
|
Leverage: Using borrowed money to invest in securities or other assets.
|
110
|
Nuveen Investments
|
■
|
Leverage-Adjusted Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s or bond Fund’s value to changes when market interest rates change. Generally, the longer a bond’s or Fund’s duration, the more the price of the bond or Fund will change as interest rates change. Leverage-adjusted duration takes into account the leveraging process for a Fund and therefore is longer than the duration of the Fund’s portfolio of bonds.
|
■
|
Market Yield (also known as Dividend Yield or Current Yield): An investment’s current annualized dividend divided by its current market price.
|
■
|
Net Asset Value (NAV): A Fund’s NAV per common share is calculated by subtracting the liabilities of the Fund (including any Preferred shares issued in order to leverage the Fund) from its total assets and then dividing the remainder by the number of common shares outstanding. Fund NAVs are calculated at the end of each business day.
|
■
|
Pre-Refunding: Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond’s credit rating and thus its value.
|
■
|
Structural Leverage: Structural Leverage consists of preferred shares or debt issued by the fund. Both of these are part of a fund’s capital structure. Structural leverage is sometimes referred to as “‘40 Act Leverage” and is subject to asset coverage limits set in the Investment Company Act of 1940.
|
■
|
Taxable-Equivalent Yield: The yield necessary from a fully taxable investment to equal, on an after-tax basis, the yield of a municipal bond investment.
|
■
|
Zero Coupon Bond: A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Tax-exempt income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.
|
Nuveen Investments
|
111
|
112
|
Nuveen Investments
|
Nuveen Investments
|
113
|
114
|
Nuveen Investments
|
Fund
|
Common Shares
Repurchased
|
Auction Rate
Preferred Shares
Redeemed
|
|||||
NPP
|
—
|
16,796
|
|||||
NMA
|
—
|
—
|
|||||
NMO
|
—
|
—
|
|||||
NAD
|
—
|
—
|
|||||
NXZ
|
—
|
—
|
|||||
NZF
|
—
|
2,742
|
Nuveen Investments
|
115
|
Nuveen makes things e-simple.
|
||
It only takes a minute to sign up for e-Reports. Once enrolled, you’ll receive an e-mail as soon as your Nuveen Fund information is ready - no more waiting for delivery by regular mail. Just click on the link within the e-mail to see the report and save it on your computer if you wish.
|
||
Free e-Reports right to your e-mail!
|
||
www.investordelivery.com
|
||
If you receive your Nuveen Fund distributions and statements from your financial advisor or brokerage account.
|
||
OR
|
||
www.nuveen.com/accountaccess
|
||
If you receive your Nuveen Fund distributions and statements directly from Nuveen.
|
(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.
|
(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: See 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: See Ex-99.906 CERT attached hereto.
|
1.
|
I have reviewed this report on Form N-CSR of Nuveen Municipal Market Opportunity Fund, Inc.;
|
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 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.
|
1.
|
I have reviewed this report on Form N-CSR of Nuveen Municipal Market Opportunity Fund, Inc.;
|
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 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.
|
1.
|
The Form N-CSR of the Fund for the period ended April 30, 2011 (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.
|
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