Edgar Filing: NUVEEN SELECT TAX FREE INCOME PORTFOLIO 2

nq2.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06622

Nuveen Select Tax-Free Income Portfolio 2

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy

Vice President and Secretary

333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

Registrant's telephone number, including area code: 312-917-7700

Date of fiscal year end: 3/31

Date of reporting period: 12/31/14

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

	Portfolio of Investments

	Nuveen Select Tax-Free Income Portfolio 2 (NXQ)
	December 31, 2014 (Unaudited)



Principal Amount (000)	Description (1)	Optional Call Provisions (2)	Ratings (3)	Value
	LONG-TERM INVESTMENTS – 97.3%
	MUNICIPAL BONDS – 97.3%
	Alaska – 0.3%
$ 1,000	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,	3/15 at 100.00	B2	$ 864,130
	Series 2006A, 5.000%, 6/01/32
	Arizona – 3.0%
2,500	Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series	3/21 at 100.00	A	2,772,825
	2011B-1&2, 5.250%, 3/01/39
1,500	Arizona State University, Certificates of Participation, Resh Infrastructure Projects, Series	3/15 at 100.00	AA– (4)	1,512,150
	2005A, 5.000%, 9/01/21 (Pre-refunded 3/01/15) – AMBAC Insured
600	Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power	10/20 at 100.00	BBB+	663,768
	Company, Series 2010A, 5.250%, 10/01/40
2,250	Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc	No Opt. Call	A–	2,607,705
	Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
215	Sedona Wastewater Municipal Property Corporation (Arizona), Excise Tax Revenue Bonds, Series	No Opt. Call	AA–	186,121
	1998, 0.000%, 7/01/20 – NPFG Insured
7,065	Total Arizona			7,742,569
	California – 13.4%
1,000	Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate	10/17 at 100.00	BBB+	1,075,680
	Lien Series 2004A, 5.450%, 10/01/25 – AMBAC Insured
11,000	Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds,	No Opt. Call	AA	3,513,180
	Capital Appreciation Series 2009B, 0.000%, 8/01/41 – AGC Insured
3,800	Arcadia Unified School District, Los Angeles County, California, General Obligation Bonds,	2/17 at 44.77	AA	1,599,154
	Election 2006 Series 2007A, 0.000%, 8/01/33 – AGM Insured
500	California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges	6/15 at 100.00	A1	502,050
	Projects, Series 1998A, 5.250%, 12/01/16
60	California State, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 – AMBAC Insured	3/15 at 100.00	Aa3	60,238
2,500	California State, General Obligation Bonds, Series 2005, 5.000%, 3/01/31	3/16 at 100.00	Aa3	2,617,900
2,440	Eureka Unified School District, Humboldt County, California, General Obligation Bonds, Series	No Opt. Call	AA	1,576,142
	2002, 0.000%, 8/01/27 – AGM Insured
3,290	Folsom Cordova Unified School District, Sacramento County, California, General Obligation	No Opt. Call	AA–	2,349,093
	Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/24 – NPFG Insured
1,000	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed	6/17 at 100.00	B	762,210
	Bonds, Series 2007A-1, 5.125%, 6/01/47
3,030	Grossmont Union High School District, San Diego County, California, General Obligation Bonds,	No Opt. Call	Aa3	2,217,506
	Series 2006, 0.000%, 8/01/25 – NPFG Insured
1,495	Huntington Beach Union High School District, Orange County, California, General Obligation	No Opt. Call	Aa2	694,308
	Bonds, Series 2007, 0.000%, 8/01/33 – FGIC Insured
1,160	Mount San Antonio Community College District, Los Angeles County, California, General	8/35 at 100.00	AA	775,773
	Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
450	M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series	No Opt. Call	A	612,905
	2009C, 6.500%, 11/01/39
1,195	Palmdale Elementary School District, Los Angeles County, California, General Obligation Bonds,	No Opt. Call	AA	734,053
	Series 2003, 0.000%, 8/01/28 – AGM Insured
590	Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009,	11/19 at 100.00	Ba1	641,064
	6.750%, 11/01/39
4,620	Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A,	No Opt. Call	AA–	3,395,007
	0.000%, 8/01/24 – NPFG Insured
4,400	Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community	No Opt. Call	A	2,266,792
	Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
2,500	Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of	No Opt. Call	AA–	1,024,150
	Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
2,755	Sacramento City Unified School District, Sacramento County, California, General Obligation	No Opt. Call	A1	1,890,288
	Bonds, Series 2007, 0.000%, 7/01/25 – AGM Insured
	San Joaquin Delta Community College District, California, General Obligation Bonds, Election
	2004 Series 2008B:
1,000	0.000%, 8/01/30 – AGM Insured	8/18 at 50.12	AA	464,400
1,890	0.000%, 8/01/31 – AGM Insured	8/18 at 47.14	AA	821,129
6,025	Simi Valley Unified School District, Ventura County, California, General Obligation Bonds,	No Opt. Call	AA	3,255,247
	Series 2007C, 0.000%, 8/01/30
2,080	Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed	6/15 at 100.00	B–	1,647,360
	Bonds, Series 2005A-1, 5.500%, 6/01/45
58,780	Total California			34,495,629
	Colorado – 8.1%
500	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,	7/19 at 100.00	A1	571,950
	Series 2009A, 5.500%, 7/01/34
1,975	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of	1/20 at 100.00	AA–	2,184,666
	Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
1,000	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital	5/17 at 100.00	A–	1,073,100
	Association, Series 2007, 5.250%, 5/15/42
1,600	Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2006A,	No Opt. Call	AA–	1,731,568
	5.000%, 11/15/16 – NPFG Insured
1,935	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B,	11/23 at 100.00	A	2,175,849
	5.000%, 11/15/43
2,230	Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel,	11/16 at 100.00	BBB–	2,282,762
	Senior Lien Series 2006, 4.750%, 12/01/35 – SYNCORA GTY Insured
	E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
5,140	0.000%, 9/01/24 – NPFG Insured	No Opt. Call	AA–	3,851,916
8,100	0.000%, 9/01/29 – NPFG Insured	No Opt. Call	AA–	4,799,736
4,475	0.000%, 9/01/33 – NPFG Insured	No Opt. Call	AA–	2,113,274
26,955	Total Colorado			20,784,821
	Florida – 2.8%
1,000	Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa	10/16 at 100.00	A3	1,050,190
	General Hospital, Series 2006, 5.250%, 10/01/41
2,500	JEA, Florida, Electric System Revenue Bonds, Series Three 2006A, 5.000%, 10/01/41 – AGM Insured	4/15 at 100.00	AA	2,527,550
3,500	Reedy Creek Improvement District, Orange and Osceola Counties, Florida, General Obligation	6/15 at 100.00	Aa3	3,568,740
	Bonds, Series 2005B, 5.000%, 6/01/17 – AMBAC Insured
7,000	Total Florida			7,146,480
	Georgia – 2.5%
1,000	Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional	12/20 at 100.00	N/R	374,547
	Medical Center Project, Series 2010, 8.125%, 12/01/45, (5), (6)
5,845	Georgia State, General Obligation Bonds, Refunding Series 2009E, 5.000%, 7/01/15	No Opt. Call	AAA	5,987,969
6,845	Total Georgia			6,362,516
	Illinois – 12.2%
1,400	Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System	No Opt. Call	AA–	1,033,144
	Revenue Bonds, Series 1999A, 0.000%, 4/01/23 – NPFG Insured
735	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series	12/21 at 100.00	A+	751,567
	2011A, 5.000%, 12/01/41
1,665	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Third Lien	1/16 at 100.00	AA–	1,738,876
	Series 2005A, 5.000%, 1/01/33 – FGIC Insured
1,000	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A, 4.625%, 1/01/31 –	1/16 at 100.00	AA	1,008,460
	AGM Insured
1,050	Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond	No Opt. Call	AA+	1,211,984
	Trust 1137, 9.272%, 7/01/15 (IF)
470	Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2007A, 5.000%,	5/17 at 100.00	AA–	492,950
	5/15/32 – NPFG Insured
2,185	Illinois Finance Authority, Revenue Bonds, YMCA of Southwest Illinois, Series 2005, 5.000%,	9/15 at 100.00	Aa3	2,161,730
	9/01/31 – RAAI Insured
1,750	Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical	8/18 at 100.00	BBB+	1,925,893
	Centers, Series 2008A, 5.500%, 8/15/30
1,035	Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc.,	11/16 at 100.00	BBB+	1,077,342
	University Center Project, Series 2006B, 5.000%, 5/01/25
2,190	Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23	No Opt. Call	A–	2,474,722
	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
	Project, Series 2002A:
6,350	0.000%, 12/15/31 – NPFG Insured	No Opt. Call	AAA	3,117,596
1,350	0.000%, 6/15/35 – NPFG Insured	No Opt. Call	AAA	540,000
5,000	0.000%, 12/15/36 – NPFG Insured	No Opt. Call	AAA	1,850,050
9,170	0.000%, 6/15/39 – NPFG Insured	No Opt. Call	AAA	2,972,456
5,045	Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,	3/15 at 100.00	N/R	4,964,381
	Series 2002A, 5.000%, 6/01/22 – RAAI Insured
	Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,
	Series 2002B:
1,135	0.000%, 12/01/18 – RAAI Insured	No Opt. Call	N/R	944,002
1,060	0.000%, 12/01/17 – RAAI Insured	No Opt. Call	N/R	934,475
2,000	Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2007, 5.000%, 3/01/22 –	3/17 at 100.00	AA–	2,154,260
	NPFG Insured
44,590	Total Illinois			31,353,888
	Indiana – 3.7%
1,600	Indiana Bond Bank, Special Program Bonds, Carmel Junior Waterworks Project, Series 2008B,	No Opt. Call	AA	909,184
	0.000%, 6/01/30 – AGM Insured
170	Indiana Finance Authority, Tax-Exempt Private Activity Revenue Bonds, I-69 Section 5 Project,	9/24 at 100.00	BBB	187,821
	Series 2014, 5.250%, 9/01/40 (Alternative Minimum Tax)
1,075	Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Ascension	11/16 at 100.00	AA+	1,127,761
	Health, Series 2006B-5, 5.000%, 11/15/36
1,000	Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest	3/17 at 100.00	A	1,054,280
	Indiana, Series 2007, 5.500%, 3/01/37
2,000	Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 –	1/17 at 100.00	AA–	2,126,180
	NPFG Insured
750	West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds,	1/15 at 100.00	AA+	752,955
	Series 2005, 5.000%, 7/15/22 – NPFG Insured
3,130	Whiting Redevelopment District, Indiana, Tax Increment Revenue Bonds, Lakefront Development	No Opt. Call	N/R	3,408,194
	Project, Series 2010, 6.000%, 1/15/19
9,725	Total Indiana			9,566,375
	Iowa – 1.6%
1,665	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company	No Opt. Call	BB–	1,769,895
	Project, Series 2013, 5.000%, 12/01/19
1,645	Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,	6/15 at 100.00	B+	1,384,169
	5.375%, 6/01/38
1,000	Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,	6/17 at 100.00	B+	918,480
	5.600%, 6/01/34
4,310	Total Iowa			4,072,544
	Kansas – 0.4%
795	Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Refunding Series 2006,	7/16 at 100.00	A1	810,375
	4.875%, 7/01/36
335	Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park	1/17 at 100.00	BB+	340,243
	Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured
1,130	Total Kansas			1,150,618
	Kentucky – 1.3%
2,500	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare	8/21 at 100.00	A+	2,759,375
	System Obligated Group, Series 2011, 5.250%, 8/15/46
805	Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,	7/31 at 100.00	Baa3	563,089
	Downtown Crossing Project, Convertible Capital Appreciation Series 2013C, 0.000%, 7/01/43
3,305	Total Kentucky			3,322,464
	Maryland – 0.0%
100	Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A, 5.250%,	9/16 at 100.00	Ba1	102,276
	9/01/39 – SYNCORA GTY Insured
	Massachusetts – 0.4%
500	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,	7/18 at 100.00	A–	537,990
	Series 2008E-1 &2, 5.000%, 7/01/28
345	Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 –	No Opt. Call	AA– (4)	360,984
	NPFG Insured (ETM)
225	Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 –	No Opt. Call	Aa1	234,200
	NPFG Insured
1,170	Total Massachusetts			1,235,450
	Michigan – 3.5%
750	Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2005,	No Opt. Call	AA	761,310
	5.000%, 5/01/17 – AGM Insured
355	Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,	7/22 at 100.00	BBB+	384,344
	Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
2,500	Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2001E, 5.750%,	7/18 at 100.00	AA+	2,794,275
	7/01/31 – BHAC Insured
2,500	Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%,	7/16 at 100.00	AA–	2,573,725
	7/01/33 – FGIC Insured
2,060	Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2004A, 4.500%,	7/16 at 100.00	AA–	2,080,538
	7/01/25 – NPFG Insured
250	Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont	9/18 at 100.00	Aaa	314,757
	Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18)
8,415	Total Michigan			8,908,949
	Minnesota – 3.7%
8,450	Minneapolis, Minnesota, General Obligation Bonds, Various Purpose Series 2014, 1.000%, 12/01/15	No Opt. Call	AAA	8,519,544
1,085	Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007-I, 4.850%,	7/16 at 100.00	AA+	1,094,255
	7/01/38 (Alternative Minimum Tax)
9,535	Total Minnesota			9,613,799
	Mississippi – 0.2%
500	Mississippi Development Bank, Revenue Bonds, Mississippi Municipal Energy Agency, Mississippi	3/16 at 100.00	Baa1	514,935
	Power, Series 2006A, 5.000%, 3/01/21 – SYNCORA GTY Insured
	Missouri – 0.1%
270	Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales	10/18 at 100.00	AA+	304,133
	Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
	Nevada – 2.9%
1,250	Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 11823, 20.365%,	No Opt. Call	A+	2,118,450
	1/01/36 (IF)
1,000	Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran	1/20 at 100.00	A+	1,125,700
	International Airport, Series 2010A, 5.250%, 7/01/42
1,600	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2005A, 5.000%,	6/15 at 100.00	AA+	1,631,824
	6/01/18 – FGIC Insured
2,500	North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 – NPFG Insured	5/16 at 100.00	AA–	2,459,575
6,350	Total Nevada			7,335,549
	New Mexico – 2.8%
1,000	New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series	9/17 at 100.00	N/R	1,017,830
	2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
	University of New Mexico, FHA-Insured Hospital Mortgage Revenue Bonds, University of Mexico
	Hospital Project, Series 2004:
555	4.625%, 1/01/25 – AGM Insured	3/15 at 100.00	AA	555,932
660	4.625%, 7/01/25 – AGM Insured	3/15 at 100.00	AA	661,076
2,000	4.750%, 7/01/27 – AGM Insured	3/15 at 100.00	AA	2,003,240
3,000	4.750%, 1/01/28 – AGM Insured	3/15 at 100.00	AA	3,004,410
7,215	Total New Mexico			7,242,488
	New York – 2.7%
1,700	Dormitory Authority of the State of New York, FHA Insured Mortgage Hospital Revenue Bonds,	8/16 at 100.00	N/R	1,732,436
	Kaleida Health, Series 2006, 4.700%, 2/15/35
500	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series	2/21 at 100.00	A	559,195
	2011A, 5.250%, 2/15/47
1,805	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%,	2/17 at 100.00	A	1,923,697
	2/15/47 – FGIC Insured
1,250	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding	11/22 at 100.00	AA–	1,485,787
	Series 2012F, 5.000%, 11/15/26
1,135	Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air	12/20 at 100.00	BBB	1,320,311
	Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
6,390	Total New York			7,021,426
	Ohio – 3.1%
	Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
	Bonds, Senior Lien, Series 2007A-2:
2,080	5.375%, 6/01/24	6/17 at 100.00	B–	1,806,106
2,475	5.875%, 6/01/30	6/17 at 100.00	B–	2,073,184
775	5.750%, 6/01/34	6/17 at 100.00	B–	626,332
2,680	5.875%, 6/01/47	6/17 at 100.00	B	2,199,396
1,105	Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series	2/23 at 100.00	A+	1,221,622
	2013A-1, 5.000%, 2/15/48
9,115	Total Ohio			7,926,640
	Oklahoma – 1.6%
1,000	Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005,	9/16 at 100.00	BBB–	1,034,160
	5.375%, 9/01/36
2,935	Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,	2/17 at 100.00	AA	3,088,471
	5.000%, 2/15/42
65	Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,	2/17 at 100.00	N/R (4)	71,065
	5.000%, 2/15/42 (Pre-refunded 2/15/17)
4,000	Total Oklahoma			4,193,696
	Pennsylvania – 0.6%
1,500	Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue	12/20 at 100.00	AA–	1,576,995
	Bonds, Series 2010B, 0.000%, 12/01/30
	Puerto Rico – 0.9%
1,035	Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003,	3/15 at 100.00	AA–	1,037,919
	5.000%, 12/01/20
15,000	Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,	No Opt. Call	BBB	1,149,900
	8/01/54 – AMBAC Insured
16,035	Total Puerto Rico			2,187,819
	Rhode Island – 2.3%
5,835	Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,	3/15 at 100.00	BBB–	5,849,529
	Series 2002A, 6.250%, 6/01/42
	South Carolina – 0.8%
1,955	South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Series	No Opt. Call	AA–	1,955,000
	2010B, 5.000%, 1/01/15
	Texas – 9.4%
250	Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41	1/21 at 100.00	BBB	291,202
5,560	Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series	10/23 at 100.00	BBB+	6,172,434
	2013A, 5.500%, 4/01/53
1,615	Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Texas	No Opt. Call	AA– (4)	1,706,393
	Children’s Hospital, Series 1995, 5.500%, 10/01/16 – NPFG Insured (ETM)
	Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
630	0.000%, 11/15/24 – NPFG Insured	No Opt. Call	AA–	415,138
12,480	0.000%, 11/15/41 – NPFG Insured	11/31 at 53.78	AA–	2,907,590
575	Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment	No Opt. Call	A2	402,264
	Project, Series 2001B, 0.000%, 9/01/24 – AMBAC Insured
1,400	Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson	2/16 at 100.00	BBB	1,429,974
	Memorial Hospital Project, Series 2005, 5.375%, 8/15/35
2,255	Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,	11/20 at 100.00	BBB	2,434,318
	Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
1,000	San Antonio, Texas, Water System Revenue Bonds, Series 2005, 4.750%, 5/15/37 – NPFG Insured	5/15 at 100.00	AA+	1,015,920
5,000	Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series	No Opt. Call	A3	5,590,800
	2012, 5.000%, 12/15/26
1,425	Texas State University System, Financing Revenue Bonds, Refunding Series 2006, 5.000%, 3/15/28 –	3/16 at 100.00	AA	1,498,459
	AGM Insured
945	Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, Second Tier Series	3/15 at 29.34	A– (4)	274,475
	2002, 0.000%, 8/15/35 (Pre-refunded 3/06/15) – AMBAC Insured
33,135	Total Texas			24,138,967
	Utah – 0.8%
5,465	Utah Transit Authority, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 6/15/36	6/17 at 38.77	AA–	2,014,016
	Virginia – 4.1%
815	Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue	10/15 at 101.00	BBB+	829,230
	Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
1,500	Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien	10/26 at 100.00	AA	1,768,620
	Revenue Bonds, Series 2009C, 0.000%, 10/01/41 – AGC Insured
2,500	Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A, 5.125%, 7/01/49	No Opt. Call	BBB–	2,707,525
	Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
	Crossing, Opco LLC Project, Series 2012:
1,000	5.250%, 1/01/32 (Alternative Minimum Tax)	7/22 at 100.00	BBB–	1,100,710
500	6.000%, 1/01/37 (Alternative Minimum Tax)	7/22 at 100.00	BBB–	574,720
1,010	5.500%, 1/01/42 (Alternative Minimum Tax)	7/22 at 100.00	BBB–	1,104,597
1,000	Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds,	9/17 at 100.00	BBB+	1,045,170
	Series 2007A, 5.250%, 9/01/37
1,500	Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor	No Opt. Call	AA+	1,516,185
	Development Program, Series 2014B, 3.000%, 5/15/15
9,825	Total Virginia			10,646,757
	Washington – 4.5%
3,000	Central Puget Sound Regional Transit Authority, Washington, Sales and Use Tax Revenue Bonds,	5/15 at 100.00	AAA	3,048,510
	Series 2005A, 5.000%, 11/01/23 (Pre-refunded 5/01/15) – AMBAC Insured
990	Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research	1/21 at 100.00	A	1,089,465
	Center, Series 2011A, 5.625%, 1/01/35
4,000	Washington State Health Care Facilities Authority, Revenue Bonds, Catholic Health Initiative,	1/23 at 100.00	A1	4,696,400
	Series 2013A, 5.750%, 1/01/45
2,500	Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008D, 5.000%,	1/18 at 100.00	AA+ (4)	2,801,525
	1/01/33 (Pre-refunded 1/01/18)
10,490	Total Washington			11,635,900
	Wisconsin – 3.6%
2,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran,	10/21 at 100.00	A+	2,226,360
	Series 2011A, 5.250%, 10/15/39
1,645	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc.,	6/22 at 100.00	A2	1,810,553
	Series 2012, 5.000%, 6/01/39
1,500	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan	8/16 at 100.00	A–	1,566,720
	Healthcare System, Series 2006A, 5.250%, 8/15/31
2,500	Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A,	7/15 at 100.00	AA+ (4)	2,559,875
	5.000%, 7/01/35 (Pre-refunded 7/01/15) – AMBAC Insured
1,000	Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A,	5/19 at 100.00	AA–	1,177,750
	6.000%, 5/01/36
8,645	Total Wisconsin			9,341,258
$ 316,550	Total Municipal Bonds (Cost $228,781,559)			250,505,340


Principal Amount (000)	Description (1)	Coupon	Maturity	Ratings (3)	Value
	CORPORATE BONDS – 0.0%

	Transportation 0.0%
$ 324	Las Vegas Monorail Company, Senior Interest Bonds (5), (7)	5.500%	7/15/19	N/R	$ 58,289
87	Las Vegas Monorail Company, Senior Interest Bonds (5), (7)	3.000%	7/15/55	N/R	11,678
$ 411	Total Corporate Bonds (cost $32,808)				69,967
	Total Long-Term Investments (cost $228,814,367)				250,575,307
	Other Assets Less Liabilities – 2.7%				6,947,581
	Net Assets – 100%				$ 257,522,888

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund's fair value measurements as of the end of the reporting period:

	Level 1	Level 2	Level 3	Total
Long-Term Investments:
Municipal Bonds	$ —	$250,130,793	$374,547	$250,505,340
Corporate Bonds	—	—	69,967	69,967
Total	$ —	$250,130,793	$444,514	$250,575,307

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.

As of December 31, 2014, the cost of investments was $227,958,094.

Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2014, were as follows:


Gross unrealized:
Appreciation	$24,313,585
Depreciation	(1,696,372)
Net unrealized appreciation (depreciation) of investments	$22,617,213


(1)		All percentages shown in the Portfolio of Investments are based on net assets.
(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 Investors 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. Certain bonds backed by U.S. Government or
		agency securities are regarded as having an implied rating equal to the rating of such securities.
(5)		Investment valued at fair value using methods determined in good faith by, or at the discretion of, the
		Board. For fair value measurement disclosure purposes, investment classified as Level 3.
(6)		At or subsequent to the end of the reporting period, this security is non-income producing. Non-income
		producing, in the case of a fixed-income security, 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.
(7)		During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy
		protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance
		of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund
		surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received
		two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on
		July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015)
		maturing on July 15, 2055. The Fund’s custodian is not accruing income on the Fund’s records for either
		senior interest corporate bond.
(ETM)		Escrowed to maturity.
(IF)		Inverse floating rate investment.

Item 2. Controls and Procedures.

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)).

There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Nuveen Select Tax-Free Income Portfolio 2

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

Kevin J. McCarthy

Vice President and Secretary

Date: February 27, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title) /s/ Gifford R. Zimmerman

Gifford R. Zimmerman

Chief Administrative Officer (principal executive officer)

Date: February 27, 2015

By (Signature and Title) /s/ Stephen D. Foy

Stephen D. Foy

Vice President and Controller (principal financial officer)

Date: February 27, 2015