|
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|
|
|
Portfolio of Investments (Unaudited)
|
|
|
|
|
Nuveen North Carolina Dividend Advantage Municipal Fund 3 (NII)
|
|
|
|
|
February 28, 2010
|
|
|
|
Principal
|
|
Optional Call
|
|
|
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
Consumer Staples 3.0% (1.9% 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 3.9% (2.4% of Total Investments)
|
|
|
|
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University,
|
|
|
|
|
Series 2001A:
|
|
|
|
330
|
5.125%, 10/01/26
|
10/11 at 100.00
|
AA+
|
337,970
|
95
|
5.125%, 10/01/41
|
10/11 at 100.00
|
AA+
|
96,087
|
1,290
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A, 5.000%,
|
10/12 at 100.00
|
A+
|
1,308,434
|
|
4/01/27 AMBAC Insured
|
|
|
|
500
|
University of North Carolina Wilmington, Certificates of Participation, Student Housing
|
6/16 at 100.00
|
A
|
534,460
|
|
Project Revenue Bonds, Series 2006, 5.000%, 6/01/21 FGIC Insured
|
|
|
|
2,215
|
Total Education and Civic Organizations
|
|
|
2,276,951
|
|
Health Care 12.4% (7.8% of Total Investments)
|
|
|
|
695
|
Albemarle Hospital Authority, North Carolina, Health Care Facilities Revenue Bonds, Series
|
10/17 at 100.00
|
N/R
|
628,280
|
|
2007, 5.250%, 10/01/27
|
|
|
|
580
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds,
|
1/11 at 101.00
|
AA
|
582,970
|
|
Carolinas Healthcare System, Series 2001A, 5.000%, 1/15/31
|
|
|
|
500
|
Johnston Memorial Hospital Authority, North Carolina, Mortgage Revenue Bonds, Johnston
|
4/18 at 100.00
|
AAA
|
510,550
|
|
Memorial Hospital Project, Series 2008A, 5.250%, 10/01/36 AGM Insured
|
|
|
|
180
|
New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical
|
10/19 at 100.00
|
AAA
|
184,588
|
|
Center, Series 2006B, 5.125%, 10/01/31 AGM Insured
|
|
|
|
545
|
North Carolina Medical Care Commission Health Care Facilities Revenue Bonds (WakeMed), Series
|
10/14 at 100.00
|
AAA
|
561,061
|
|
2009A, 5.625%, 10/01/38 AGC Insured
|
|
|
|
2,000
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Novant Health
|
11/13 at 100.00
|
A+
|
2,100,540
|
|
Obligated Group, Series 2003A, 5.000%, 11/01/18
|
|
|
|
1,000
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Wilson Medical Center, Series
|
11/17 at 100.00
|
A
|
970,230
|
|
2007, 5.000%, 11/01/27
|
|
|
|
300
|
North Carolina Medical Care Commission, Revenue Bonds, Blue Ridge Healthcare System, Series
|
1/15 at 100.00
|
A+
|
296,757
|
|
2005, 5.000%, 1/01/33 FGIC Insured
|
|
|
|
150
|
Northern Hospital District of Surry County, North Carolina, Health Care Facilities Revenue
|
4/18 at 100.00
|
BBB
|
151,697
|
|
Bonds, Series 2008, 6.250%, 10/01/38
|
|
|
|
1,200
|
The Charlotte-Mecklenberg Hospital Authority, North Carolina, Doing Business as Carolinas
|
1/18 at 100.00
|
AA
|
1,205,364
|
|
HealthCare System, Health Care Refunding Revenue Bonds, Series 2008A, 5.000%, 1/15/47
|
|
|
|
7,150
|
Total Health Care
|
|
|
7,192,037
|
|
Housing/Multifamily 1.8% (1.1% of Total Investments)
|
|
|
|
1,000
|
Mecklenburg County, North Carolina, FNMA Multifamily Housing Revenue Bonds, Little Rock
|
7/13 at 105.00
|
AAA
|
1,048,300
|
|
Apartments, Series 2003, 5.150%, 1/01/22 (Alternative Minimum Tax)
|
|
|
|
|
Housing/Single Family 2.7% (1.7% of Total Investments)
|
|
|
|
615
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement,
|
7/10 at 100.00
|
AA
|
615,277
|
|
Series 5A, 5.625%, 7/01/30 (Alternative Minimum Tax)
|
|
|
|
500
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2007-29A, 4.800%,
|
1/17 at 100.00
|
AA
|
482,940
|
|
7/01/33 (Alternative Minimum Tax)
|
|
|
|
505
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 25-A, 4.900%,
|
7/16 at 100.00
|
AA
|
487,992
|
|
7/01/37 (Alternative Minimum Tax)
|
|
|
|
1,620
|
Total Housing/Single Family
|
|
|
1,586,209
|
|
Long-Term Care 1.7% (1.0% of Total Investments)
|
|
|
|
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Presbyterian
|
|
|
|
|
Homes, Series 2006:
|
|
|
|
250
|
5.400%, 10/01/27
|
10/16 at 100.00
|
N/R
|
237,463
|
600
|
5.500%, 10/01/31
|
10/16 at 100.00
|
N/R
|
550,338
|
190
|
North Carolina Medical Care Commission, Revenue Bonds, Pines at Davidson, Series 2006A,
|
1/16 at 100.00
|
N/R
|
173,787
|
|
5.000%, 1/01/36
|
|
|
|
1,040
|
Total Long-Term Care
|
|
|
961,588
|
|
Materials 0.3% (0.2% of Total Investments)
|
|
|
|
200
|
Columbus County Industrial Facilities and Pollution Control Financing Authority, North
|
3/17 at 100.00
|
BBB
|
167,356
|
|
Carolina, Environmental Improvement Revenue Bonds, International Paper Company Project,
|
|
|
|
|
Series 2007A, 4.625%, 3/01/27
|
|
|
|
|
Tax Obligation/General 15.1% (9.4% of Total Investments)
|
|
|
|
3,900
|
Cary, North Carolina, General Obligation Water and Sewer Bonds, Series 2001, 5.000%, 3/01/20
|
3/11 at 102.00
|
AAA
|
4,165,629
|
|
Lincoln County, North Carolina, General Obligation Bonds, Series 2002A:
|
|
|
|
850
|
5.000%, 6/01/19 FGIC Insured
|
6/12 at 101.00
|
AA
|
903,618
|
900
|
5.000%, 6/01/20 FGIC Insured
|
6/12 at 101.00
|
AA
|
951,615
|
1,050
|
5.000%, 6/01/21 FGIC Insured
|
6/12 at 101.00
|
AA
|
1,120,875
|
500
|
North Carolina, General Obligation Bonds, Series 2004A, 5.000%, 3/01/22
|
3/14 at 100.00
|
AAA
|
547,055
|
400
|
Raleigh, North Carolina, General Obligation Bonds, Series 2002, 5.000%, 6/01/21
|
6/12 at 100.00
|
AAA
|
438,636
|
550
|
Wake County, North Carolina, Limited Obligation Bonds, Series 2010, 5.000%, 1/01/37
|
1/20 at 100.00
|
AA+
|
577,231
|
8,150
|
Total Tax Obligation/General
|
|
|
8,704,659
|
|
Tax Obligation/Limited 34.9% (21.7% of Total Investments)
|
|
|
|
1,800
|
Catawba County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/22
|
6/14 at 100.00
|
Aa3
|
1,898,550
|
|
NPFG Insured
|
|
|
|
2,750
|
Charlotte, North Carolina, Certificates of Participation, Governmental Facilities Projects,
|
6/13 at 100.00
|
AA+
|
2,815,863
|
|
Series 2003G, 5.000%, 6/01/33
|
|
|
|
600
|
Charlotte, North Carolina, Certificates of Participation, Nascar Hall of Fame, Series 2009C,
|
6/19 at 100.00
|
AA+
|
620,184
|
|
5.000%, 6/01/39
|
|
|
|
575
|
Charlotte, North Carolina, Certificates of Participation, Transit Projects Phase 2, Series
|
6/18 at 100.00
|
AA+
|
594,217
|
|
2008A, 5.000%, 6/01/33
|
|
|
|
800
|
Craven County, North Carolina, Certificates of Participation, Series 2007, 5.000%, 6/01/27
|
6/17 at 100.00
|
AA
|
833,552
|
|
NPFG Insured
|
|
|
|
3,000
|
Dare County, North Carolina, Certificates of Participation, Series 2002, 5.000%, 6/01/23
|
12/12 at 100.00
|
AA
|
3,036,030
|
|
AMBAC Insured
|
|
|
|
200
|
Harnett County, North Carolina, Certificates of Participation, Series 2009, 5.000%, 6/01/28
|
6/19 at 100.00
|
AAA
|
211,062
|
|
AGC Insured
|
|
|
|
500
|
Lee County, North Carolina, Certificates of Participation, Public Schools and Community
|
4/14 at 100.00
|
AAA
|
535,835
|
|
College, Series 2004, 5.250%, 4/01/20 AGM Insured
|
|
|
|
200
|
Mecklenburg County, North Carolina, Certificates of Participation, Series 2009A,
|
No Opt. Call
|
AA+
|
215,512
|
|
5.000%, 2/01/27
|
|
|
|
1,000
|
North Carolina, Certificates of Participation, Repair and Renovation Project, Series 2004B,
|
6/14 at 100.00
|
AA+
|
1,069,890
|
|
5.000%, 6/01/20
|
|
|
|
2,625
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
No Opt. Call
|
A+
|
501,008
|
|
2010A, 0.000%, 8/01/35
|
|
|
|
565
|
Raleigh, North Carolina, Certificates of Participation, Series 2007, 5.000%, 2/01/27
|
2/17 at 100.00
|
AA+
|
600,296
|
2,000
|
Rutherford County, North Carolina, Certificates of Participation, Series 2002, 5.000%,
|
9/12 at 101.00
|
A
|
2,094,200
|
|
9/01/21 AMBAC Insured
|
|
|
|
1,000
|
Rutherford County, North Carolina, Certificates of Participation, Series 2007, 5.000%,
|
12/17 at 100.00
|
AAA
|
1,058,590
|
|
12/01/27 AGM Insured
|
|
|
|
1,200
|
Sampson County, North Carolina, Certificates of Participation, Series 2006, 5.000%, 6/01/34
|
6/17 at 100.00
|
AAA
|
1,223,328
|
|
AGM Insured (UB)
|
|
|
|
1,785
|
Union County, North Carolina, Certificates of Participation, Series 2003, 5.000%, 6/01/20
|
6/13 at 101.00
|
AA
|
1,901,614
|
|
AMBAC Insured
|
|
|
|
500
|
Wilmington, North Carolina, Certificates of Participation, Series 2008A, 5.000%, 6/01/29
|
6/18 at 100.00
|
AA
|
528,370
|
400
|
Wilson County, North Carolina, Certificates of Participation, School Facilities Project,
|
4/17 at 100.00
|
A2
|
415,468
|
|
Series 2007, 5.000%, 4/01/25 AMBAC Insured
|
|
|
|
21,500
|
Total Tax Obligation/Limited
|
|
|
20,153,569
|
|
Transportation 12.6% (7.9% of Total Investments)
|
|
|
|
500
|
Charlotte, North Carolina, Airport Revenue Bonds, Series 2010A, 5.000%, 7/01/39
|
7/20 at 100.00
|
A+
|
503,180
|
660
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010A,
|
2/20 at 100.00
|
A3
|
663,986
|
|
5.250%, 2/01/40 (WI/DD, Settling 3/11/10)
|
|
|
|
|
North Carolina Turnpike Authority, Triangle Expressway System Senior Lien Revenue Bonds,
|
|
|
|
|
Series 2009A:
|
|
|
|
50
|
5.500%, 1/01/29 AGC Insured
|
1/19 at 100.00
|
AAA
|
53,689
|
400
|
5.750%, 1/01/39 AGC Insured
|
1/19 at 100.00
|
AAA
|
426,212
|
|
North Carolina Turnpike Authority, Triangle Expressway System Senior Lien Revenue Bonds,
|
|
|
|
|
Series 2009B:
|
|
|
|
2,195
|
0.000%, 1/01/35 AGC Insured
|
No Opt. Call
|
AAA
|
528,951
|
100
|
0.000%, 1/01/37 AGC Insured
|
No Opt. Call
|
AAA
|
21,156
|
300
|
0.000%, 1/01/38 AGC Insured
|
No Opt. Call
|
AAA
|
59,577
|
|
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Series 2001A:
|
|
|
|
1,780
|
5.250%, 11/01/15 FGIC Insured
|
5/11 at 101.00
|
Aa3
|
1,856,433
|
3,100
|
5.000%, 11/01/20 FGIC Insured
|
5/11 at 101.00
|
Aa3
|
3,173,749
|
9,085
|
Total Transportation
|
|
|
7,286,933
|
|
U.S. Guaranteed 17.2% (10.7% of Total Investments) (4)
|
|
|
|
500
|
Broad River Water Authority, North Carolina, Water System Revenue Bonds, Series 2000, 5.375%,
|
6/10 at 101.00
|
Baa1 (4)
|
511,745
|
|
6/01/26 (Pre-refunded 6/01/10) MBIA Insured
|
|
|
|
170
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds,
|
1/11 at 101.00
|
Aa3 (4)
|
178,821
|
|
Carolinas Healthcare System, Series 2001A, 5.000%, 1/15/31 (Pre-refunded 1/15/11)
|
|
|
|
200
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA
|
1/15 at 100.00
|
AAA
|
233,516
|
|
Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
|
|
|
|
Forsyth County, North Carolina, Certificates of Participation, Public Facilities and Equipment
|
|
|
|
|
Project, Series 2002:
|
|
|
|
1,325
|
5.125%, 1/01/16 (Pre-refunded 1/01/13)
|
1/13 at 101.00
|
AA+ (4)
|
1,490,705
|
770
|
5.250%, 1/01/19 (Pre-refunded 1/01/13)
|
1/13 at 101.00
|
AA+ (4)
|
868,991
|
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University,
|
|
|
|
|
Series 2001A:
|
|
|
|
920
|
5.125%, 10/01/26 (Pre-refunded 10/01/11)
|
10/11 at 100.00
|
AAA
|
988,135
|
405
|
5.125%, 10/01/41 (Pre-refunded 10/01/11)
|
10/11 at 100.00
|
AAA
|
434,994
|
1,600
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series
|
10/12 at 100.00
|
AAA
|
1,779,920
|
|
2002A, 5.125%, 7/01/42 (Pre-refunded 10/01/12)
|
|
|
|
500
|
North Carolina Medical Care Commission, Health System Revenue Bonds, Mission St. Josephs
|
10/11 at 101.00
|
AA (4)
|
542,735
|
|
Health System, Series 2001, 5.250%, 10/01/31 (Pre-refunded 10/01/11)
|
|
|
|
500
|
North Carolina Medical Care Commission, Revenue Bonds, Northeast Medical Center, Series 2004,
|
11/14 at 100.00
|
Aa3 (4)
|
583,440
|
|
5.000%, 11/01/24 (Pre-refunded 11/01/14)
|
|
|
|
610
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A, 5.000%,
|
10/12 at 100.00
|
N/R (4)
|
676,636
|
|
4/01/27 (Pre-refunded 10/01/12) AMBAC Insured
|
|
|
|
1,500
|
Winston-Salem, North Carolina, Water and Sewerage System Revenue Bonds, Series 2002A, 5.000%,
|
6/12 at 100.00
|
AAA
|
1,643,460
|
|
6/01/19 (Pre-refunded 6/01/12)
|
|
|
|
9,000
|
Total U.S. Guaranteed
|
|
|
9,933,098
|
|
Utilities 19.4% (12.1% of Total Investments)
|
|
|
|
150
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2003F,
|
1/13 at 100.00
|
A
|
161,859
|
|
5.500%, 1/01/16
|
|
|
|
500
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005,
|
1/16 at 100.00
|
A
|
532,005
|
|
5.250%, 1/01/20 AMBAC Insured
|
|
|
|
1,400
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2009B,
|
1/19 at 100.00
|
A
|
1,452,612
|
|
5.000%, 1/01/26
|
|
|
|
4,060
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series
|
7/10 at 100.00
|
Baa1
|
4,066,699
|
|
1993B, 5.500%, 1/01/17 FGIC Insured
|
|
|
|
275
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series
|
1/19 at 100.00
|
A
|
281,699
|
|
2009A, 5.000%, 1/01/30
|
|
|
|
2,665
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,
|
1/13 at 100.00
|
A
|
2,936,990
|
|
1/01/15 AMBAC Insured
|
|
|
|
250
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2008A,
|
1/18 at 100.00
|
A
|
277,068
|
|
5.250%, 1/01/20
|
|
|
|
1,400
|
Wake County Industrial Facilities and Pollution Control Financing Authority, North Carolina,
|
2/12 at 101.00
|
A1
|
1,493,954
|
|
Revenue Refunding Bonds, Carolina Power and Light Company, Series 2002, 5.375%, 2/01/17
|
|
|
|
10,700
|
Total Utilities
|
|
|
11,202,886
|
|
Water and Sewer 35.4% (22.1% of Total Investments)
|
|
|
|
2,000
|
Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%,
|
4/18 at 100.00
|
AAA
|
2,074,020
|
|
4/01/31 AGM Insured
|
|
|
|
425
|
Cape Fear Public Utility Authority, North Carolina, Water & Sewer System Revenue Bonds, Series
|
8/18 at 100.00
|
AA
|
460,369
|
|
2008, 5.000%, 8/01/28
|
|
|
|
|
Charlotte, North Carolina, Water and Sewerage System Revenue Bonds, Series 2001:
|
|
|
|
750
|
5.125%, 6/01/26
|
6/11 at 101.00
|
AAA
|
780,150
|
1,780
|
5.125%, 6/01/26 FGIC Insured
|
6/11 at 101.00
|
Aa1
|
1,831,122
|
300
|
Durham County, North Carolina, Enterprise System Revenue Bonds, Series 2002, 5.000%, 6/01/18
|
6/13 at 100.00
|
AA
|
323,835
|
|
NPFG Insured
|
|
|
|
2,500
|
Kannapolis, North Carolina, Water and Sewerage System Revenue Bonds, Series 2001B, 5.250%,
|
2/12 at 101.00
|
AAA
|
2,522,175
|
|
2/01/26 AGM Insured (Alternative Minimum Tax)
|
|
|
|
50
|
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A, 6.000%, 6/01/34
|
6/19 at 100.00
|
AAA
|
54,206
|
|
AGC Insured
|
|
|
|
500
|
Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004B, 5.000%,
|
6/14 at 100.00
|
A
|
521,104
|
|
6/01/23 SYNCORA GTY Insured
|
|
|
|
1,000
|
Orange Water and Sewerage Authority, North Carolina, Water and Sewerage System Revenue Bonds,
|
7/11 at 101.00
|
AA+
|
1,027,530
|
|
Series 2001, 5.000%, 7/01/26
|
|
|
|
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A:
|
|
|
|
4,950
|
5.000%, 3/01/31 (UB)
|
3/16 at 100.00
|
AAA
|
5,240,713
|
3,000
|
5.000%, 3/01/36 (UB)
|
3/16 at 100.00
|
AAA
|
3,136,920
|
5
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A, Residuals
|
3/16 at 100.00
|
AAA
|
5,684
|
|
Series II-R-645-2, 13.979%, 3/01/36 (IF)
|
|
|
|
2,375
|
Winston-Salem, North Carolina, Water and Sewer System Revenue Bonds, Series 2007A, 5.000%,
|
6/17 at 100.00
|
AAA
|
2,482,895
|
|
6/01/37 (UB)
|
|
|
|
19,635
|
Total Water and Sewer
|
|
|
20,460,723
|
$ 93,295
|
Total Investments (cost $90,149,086) 160.4%
|
|
|
92,699,929
|
|
Floating Rate Obligations (12.9)%
|
|
|
(7,480,000)
|
|
MuniFund Term Preferred Shares, at Liquidation Value (49.7)% (5)
|
|
|
(28,725,000)
|
|
Other Assets Less Liabilities 50.7%
|
|
|
29,290,194
|
|
Auction Rate Preferred Shares, at Liquidation Value (48.5)% (5)
|
|
|
(28,000,000)
|
|
Net Assets Applicable to Common Shares 100%
|
|
|
$ 57,785,123
|