Portfolio of Investments (Unaudited) | ||||
Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG) | ||||
February 28, 2010 | ||||
Principal | Optional Call | |||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value |
Consumer Staples 2.7% (1.8% of Total Investments) | ||||
$ 2,000 | Puerto Rico, The Childrens Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, | 5/12 at 100.00 | BBB | $ 1,725,620 |
Series 2002, 5.500%, 5/15/39 | ||||
Education and Civic Organizations 17.7% (12.1% of Total Investments) | ||||
2,500 | Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus | 12/12 at 100.00 | Aa2 | 2,528,100 |
Housing LLC Project, Series 2002, 5.000%, 12/01/33 AMBAC Insured | ||||
500 | Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus | 6/19 at 100.00 | Aa2 | 525,885 |
Housing LLC Project, Series 2009, 5.250%, 6/15/35 | ||||
1,225 | Athens-Clarke County Unified Government Development Authority, Georgia, Educational Facilities | 12/12 at 100.00 | N/R | 1,256,581 |
Revenue Bonds, UGAREF CCRC Building LLC Project, Series 2002, 5.000%, 12/15/18 | ||||
AMBAC Insured | ||||
3,000 | Atlanta Development Authority, Georgia, Educational Facilities Revenue Bonds, Science Park LLC | 7/17 at 100.00 | A1 | 3,010,770 |
Project, Series 2007, 5.000%, 7/01/39 | ||||
2,000 | Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Klaus Parking and | 11/13 at 100.00 | Aa3 | 2,031,420 |
Family Housing, Series 2003, 5.000%, 11/01/23 NPFG Insured | ||||
1,050 | Fulton County Development Authority, Georgia, Revenue Bonds, TUFF Morehouse Project, Series | 2/12 at 100.00 | A2 | 1,054,557 |
2002A, 5.000%, 2/01/34 AMBAC Insured | ||||
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series | ||||
2009, Trust 3404: | ||||
315 | 17.319%, 9/01/32 (IF) | 9/19 at 100.00 | AA | 393,895 |
490 | 17.348%, 9/01/35 (IF) | 9/19 at 100.00 | AA | 592,283 |
11,080 | Total Education and Civic Organizations | 11,393,491 | ||
Health Care 25.6% (17.5% of Total Investments) | ||||
150 | Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center, | 6/10 at 100.00 | BB+ | 150,023 |
Series 1997, 5.250%, 12/01/12 | ||||
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center, | ||||
Series 1998: | ||||
40 | 5.250%, 12/01/22 | 12/10 at 100.00 | BB+ | 35,704 |
550 | 5.375%, 12/01/28 | 6/10 at 101.00 | BB+ | 455,472 |
Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical | ||||
Center, Series 2004: | ||||
185 | 5.000%, 12/01/19 | 12/14 at 100.00 | BBB | 184,858 |
1,000 | 5.250%, 12/01/22 | 12/14 at 100.00 | BBB | 995,320 |
1,000 | Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical | 7/12 at 101.00 | Aa3 | 1,019,000 |
Center Project, Series 2002, 5.200%, 7/01/32 NPFG Insured | ||||
500 | Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, | 2/41 at 100.00 | A+ | 487,490 |
Northeast Georgia Health Services Inc., Series 2010B, 5.250%, 2/15/45 | ||||
1,140 | Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project, Series | 10/17 at 100.00 | A2 | 1,113,278 |
2007, 5.250%, 10/01/35 | ||||
450 | Macon-Bibb County Hospital Authority, Georgia, Revenue Anticipation Certificates, The Medical | 8/19 at 100.00 | AA | 452,336 |
Center of Central Georgia, Inc. Project, Series 2009, 5.000%, 8/01/35 | ||||
Newnan Hospital Authority, Georgia, Revenue Anticipation Certificates, Newnan Hospital Inc., | ||||
Series 2002: | ||||
2,260 | 5.500%, 1/01/19 NPFG Insured | 1/13 at 100.00 | A2 | 2,554,636 |
3,020 | 5.500%, 1/01/20 NPFG Insured | 1/13 at 100.00 | A2 | 3,413,717 |
Royston Hospital Authority, Georgia, Revenue Anticipation Certificates, Ty Cobb Healthcare | ||||
System Inc., Series 1999: | ||||
350 | 6.700%, 7/01/16 | 7/11 at 100.00 | N/R | 350,032 |
650 | 6.500%, 7/01/27 (WI/DD, Settling 3/03/10) | 7/10 at 101.00 | N/R | 595,647 |
2,000 | Savannah Hospital Authority, Georgia, Revenue Bonds, St. Josephs/Candler Health System, | 1/14 at 100.00 | Baa1 | 1,977,200 |
Series 2003, 5.250%, 7/01/23 RAAI Insured | ||||
1,945 | Tift County Hospital Authority, Georgia, Revenue Anticipation Bonds, Tift Regional Medical | 12/12 at 101.00 | A2 | 1,968,729 |
Center, Series 2002, 5.250%, 12/01/19 AMBAC Insured | ||||
750 | Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia | 10/17 at 100.00 | A+ | 716,948 |
Medical Center, Series 2007, 5.000%, 10/01/33 | ||||
15,990 | Total Health Care | 16,470,390 | ||
Housing/Multifamily 4.7% (3.2% of Total Investments) | ||||
25 | Cobb County Development Authority, Georgia, Student Housing Revenue Bonds, KSU Village II Real | 7/17 at 100.00 | Baa3 | 21,995 |
Estate Foundation LLC Project, Series 2007A, 5.250%, 7/15/38 AMBAC Insured | ||||
Savannah Economic Development Authority, Georgia, GNMA Collateralized Multifamily Housing | ||||
Revenue Bonds, Snap I-II-III Apartments, Series 2002A: | ||||
500 | 5.150%, 11/20/22 (Alternative Minimum Tax) | 11/12 at 102.00 | AAA | 512,610 |
980 | 5.200%, 11/20/27 (Alternative Minimum Tax) | 11/12 at 102.00 | AAA | 996,758 |
1,465 | 5.250%, 11/20/32 (Alternative Minimum Tax) | 11/12 at 102.00 | AAA | 1,483,840 |
2,970 | Total Housing/Multifamily | 3,015,203 | ||
Housing/Single Family 0.5% (0.3% of Total Investments) | ||||
170 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2006C-2, 4.550%, | 12/15 at 100.00 | AAA | 157,107 |
12/01/31 (Alternative Minimum Tax) | ||||
150 | Georgia Housing and Finance Authority, Single Family Mortgage Resolution 1 Bonds, Series | 6/11 at 100.00 | AAA | 153,893 |
2001B-2, 5.400%, 12/01/31 (Alternative Minimum Tax) | ||||
320 | Total Housing/Single Family | 311,000 | ||
Industrials 3.3% (2.2% of Total Investments) | ||||
2,190 | Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste | 4/16 at 101.00 | BBB | 2,108,598 |
Management Project, Series 2004A, 5.000%, 4/01/33 (Alternative Minimum Tax) | ||||
Long-Term Care 0.4% (0.3% of Total Investments) | ||||
250 | Medical Center Hospital Authority, Georgia, Revenue Bonds, Spring Harbor at Green Island, | No Opt. Call | N/R | 254,220 |
Series 2007, 5.000%, 7/01/11 | ||||
Materials 2.5% (1.8% of Total Investments) | ||||
1,000 | Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds, | 2/11 at 101.00 | BBB | 1,003,380 |
International Paper Company, Series 2001A, 6.250%, 2/01/25 (Alternative Minimum Tax) | ||||
250 | Richmond County Development Authority, Georgia, Environmental Improvement Revenue Refunding | 2/12 at 101.00 | BBB | 247,850 |
Bonds, International Paper Company, Series 2002A, 6.000%, 2/01/25 (Alternative Minimum Tax) | ||||
370 | Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union Camp | No Opt. Call | Baa3 | 391,993 |
Corporation, Series 1995, 6.150%, 3/01/17 | ||||
1,620 | Total Materials | 1,643,223 | ||
Tax Obligation/General 26.6% (18.2% of Total Investments) | ||||
600 | Cherokee County Resource Recovery Development Authority, Georgia, Solid Waste Disposal Revenue | 7/17 at 100.00 | AA+ | 582,552 |
Bonds, Ball Ground Recycling LLC Project, Series 2007A, 5.000%, 7/01/37 AMBAC Insured | ||||
(Alternative Minimum Tax) | ||||
900 | Decatur, Georgia, General Obligation Bonds, Series 2007, 5.000%, 1/01/31 AGM Insured | 1/17 at 100.00 | AAA | 959,220 |
1,000 | Forsyth County, Georgia, General Obligation Bonds, Series 2004, 5.250%, 3/01/19 | 3/14 at 101.00 | AA+ | 1,127,280 |
915 | Georgia Municipal Association Inc., Certificates of Participation, Riverdale Public Purpose | 5/19 at 100.00 | AAA | 957,200 |
Project, Series 2009, 5.500%, 5/01/38 AGC Insured | ||||
1,700 | Georgia State, General Obligation Bonds, Series 2007, 5.000%, 8/01/24 | 8/17 at 100.00 | AAA | 1,896,503 |
1,645 | Georgia State, General Obligation Bonds, Series 2009B, 5.000%, 1/01/26 | 1/19 at 100.00 | AAA | 1,841,232 |
750 | Georgia, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15 | No Opt. Call | AAA | 894,443 |
1,000 | Georgia, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15 | No Opt. Call | AAA | 1,174,400 |
2,100 | Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008, 5.000%, | 2/18 at 100.00 | AAA | 2,226,059 |
2/01/36 (UB) | ||||
250 | La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series | 7/18 at 100.00 | A+ | 257,053 |
2008A, 5.500%, 7/01/38 | ||||
Oconee County, Georgia, General Obligation Bonds, Recreation Project, Series 2003: | ||||
1,410 | 5.500%, 1/01/23 AMBAC Insured | 1/13 at 101.00 | Aa3 | 1,541,086 |
1,470 | 5.250%, 1/01/26 AMBAC Insured | 1/13 at 101.00 | Aa3 | 1,545,027 |
1,200 | Paulding County School District, Georgia, General Obligation Bonds, Series 2007, 5.000%, 2/01/33 | 2/17 at 100.00 | AA+ | 1,234,620 |
950 | Wayne County Hospital Authority, Georgia, Hospital Revenue Bonds, Series 2006, 5.000%, | 3/16 at 100.00 | N/R | 909,663 |
3/01/23 SYNCORA GTY Insured | ||||
15,890 | Total Tax Obligation/General | 17,146,338 | ||
Tax Obligation/Limited 13.1% (8.9% of Total Investments) | ||||
Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007: | ||||
5 | 5.250%, 12/01/21 | No Opt. Call | AAA | 5,369 |
620 | 5.000%, 12/01/23 AGC Insured | 12/17 at 100.00 | AAA | 645,482 |
1,000 | Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, | No Opt. Call | N/R | 1,011,170 |
7.375%, 1/01/31 | ||||
110 | Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16 | No Opt. Call | N/R | 114,596 |
(Alternative Minimum Tax) | ||||
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005B: | ||||
250 | 5.400%, 1/01/20 | 7/15 at 100.00 | N/R | 247,538 |
350 | 5.600%, 1/01/30 | 7/15 at 100.00 | N/R | 320,954 |
340 | Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31 | 1/16 at 100.00 | N/R | 298,636 |
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds, | ||||
Series 1993: | ||||
105 | 5.500%, 10/01/18 NPFG Insured | No Opt. Call | A | 115,604 |
1,720 | 5.625%, 10/01/26 NPFG Insured | 10/19 at 100.00 | A | 1,878,309 |
750 | Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project, | 6/12 at 101.00 | N/R | 761,205 |
Series 2002, 5.125%, 12/01/21 AMBAC Insured | ||||
2,500 | Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds, | No Opt. Call | Aa3 | 3,017,925 |
Series 1992P, 6.250%, 7/01/20 AMBAC Insured | ||||
7,750 | Total Tax Obligation/Limited | 8,416,788 | ||
Transportation 5.0% (3.4% of Total Investments) | ||||
3,195 | Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2000A, 5.500%, 1/01/21 | 1/11 at 100.50 | A+ | 3,236,279 |
FGIC Insured | ||||
U.S. Guaranteed 10.6% (7.2% of Total Investments) (4) | ||||
1,000 | Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002, 5.250%, 10/01/22 | 10/12 at 100.00 | AAA | 1,115,660 |
(Pre-refunded 10/01/12) AGM Insured | ||||
1,000 | Cherokee County School System, Georgia, General Obligation Bonds, Series 2003, 5.000%, 8/01/16 | 8/13 at 100.00 | AA+ (4) | 1,136,410 |
(Pre-refunded 8/01/13) MBIA Insured | ||||
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Series 2000: | ||||
1,000 | 5.125%, 10/01/31 (Pre-refunded 10/01/10) | 10/10 at 101.00 | AAA | 1,039,460 |
900 | 5.375%, 10/01/35 (Pre-refunded 10/01/10) | 10/10 at 101.00 | AAA | 936,855 |
1,305 | Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, | 5/11 at 100.00 | N/R (4) | 1,382,582 |
Northeast Georgia Health Services Inc., Series 2001, 5.500%, 5/15/31 (Pre-refunded 5/15/11) | ||||
1,100 | Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series | 10/11 at 102.00 | Baa2 (4) | 1,212,728 |
2001, 5.750%, 10/01/31 (Pre-refunded 10/01/11) | ||||
6,305 | Total U.S. Guaranteed | 6,823,695 | ||
Utilities 4.9% (3.3% of Total Investments) | ||||
1,000 | Elberton, Georgia, Combined Utility System Revenue Refunding and Improvement Bonds, Series | 1/12 at 100.00 | A3 | 1,048,900 |
2001, 5.000%, 1/01/22 AMBAC Insured | ||||
1,000 | Georgia Municipal Electric Authority, General Power Revenue Bonds, Project 1, Series 2007A, | 1/17 at 100.00 | A | 1,050,160 |
5.000%, 1/01/25 NPFG Insured | ||||
1,000 | Municipal Electric Authority of Georgia, Project One Subordinated Lien Revenue Bonds, Series | 1/13 at 100.00 | A | 1,032,050 |
2003A, 5.000%, 1/01/22 NPFG Insured | ||||
3,000 | Total Utilities | 3,131,110 | ||
Water and Sewer 29.1% (19.8% of Total Investments) | ||||
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004: | ||||
500 | 5.250%, 11/01/15 AGM Insured | 11/14 at 100.00 | AAA | 557,740 |
700 | 5.000%, 11/01/37 AGM Insured | 11/14 at 100.00 | AAA | 701,687 |
3,500 | Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002, 5.000%, 10/01/27 | 10/12 at 100.00 | AAA | 3,588,865 |
AGM Insured | ||||
1,990 | Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2001, 5.000%, | 8/18 at 100.00 | AAA | 2,061,939 |
8/01/35 AGM Insured | ||||
Coweta County Water and Sewer Authority, Georgia, Revenue Bonds, Series 2007: | ||||
500 | 5.000%, 6/01/32 | 6/18 at 100.00 | Aa3 | 518,460 |
500 | 5.000%, 6/01/37 | 6/18 at 100.00 | Aa3 | 514,280 |
1,000 | Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue Bonds, | 12/15 at 100.00 | AA | 1,037,920 |
Series 2005, 5.000%, 6/01/29 NPFG Insured | ||||
445 | Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue Bonds, | 6/17 at 100.00 | AA | 455,026 |
Series 2007, 5.000%, 6/01/37 NPFG Insured | ||||
4,000 | Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2002, | 4/13 at 100.00 | AA+ | 4,084,080 |
5.000%, 4/01/32 | ||||
375 | Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2007, 5.000%, | 4/17 at 100.00 | AAA | 384,435 |
4/01/37 AGM Insured | ||||
950 | Fulton County, Georgia, Water and Sewerage Revenue Bonds, Series 1998, 5.000%, 1/01/16 | 7/10 at 100.00 | AA | 957,923 |
FGIC Insured | ||||
3,100 | Harris County, Georgia, Water System Revenue Bonds, Series 2002, 5.000%, 12/01/22 | 12/12 at 100.00 | N/R | 3,145,291 |
AMBAC Insured | ||||
685 | Walton County Water and Sewerage Authority, Georgia, Revenue Bonds, The Oconee-Hard Creek | 2/18 at 100.00 | Aa3 | 700,728 |
Reservoir Project, Series 2008, 5.000%, 2/01/38 AGM Insured | ||||
18,245 | Total Water and Sewer | 18,708,374 | ||
$ 90,805 | Total Investments (cost $92,007,735) 146.7% | 94,384,329 | ||
Floating Rate Obligations (2.2)% | (1,395,000) | |||
Other Assets Less Liabilities 5.6% | 3,625,449 | |||
MuniFund Term Preferred Shares, at Liquidation Value (50.1)% (5) | (32,265,000) | |||
Net Assets Applicable to Common Shares 100% | $ 64,349,778 |
Fair Value Measurements
In determining the value of the Funds investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
Level 1 Quoted prices in active markets for identical securities.
Level 2 Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 Significant unobservable inputs (including managements assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Funds fair value measurements as of February 28, 2010:
Level 1 | Level 2 | Level 3 | Total | |
Investments: | ||||
Municipal Bonds | $ | $94,384,329 | $ | $94,384,329 |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At February 28, 2010, the cost of investments was $90,601,629.
Gross unrealized appreciation and gross unrealized depreciation of investments at February 28, 2010, as follows:
Gross unrealized: | |
Appreciation | $3,080,674 |
Depreciation | (693,751) |
Net unrealized appreciation (depreciation) of investments | $2,386,923 |
(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 higher of Standard & Poors Group (Standard & Poors) or Moodys Investor Service, |
Inc. (Moodys) rating. Ratings below BBB by Standard & Poors or Baa by Moodys are considered to be | |
below investment grade. | |
(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) | MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.2%. |
N/R | Not rated. |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
(IF) | Inverse floating rate investment. |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
a.
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The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
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b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
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