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Portfolio of Investments (Unaudited)
|
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|
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|
Nuveen North Carolina Dividend Advantage Municipal Fund (NRB)
|
|
|
|
|
|
February 29, 2012
|
|
|
|
|
|
|
|
|
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Principal
|
|
|
Optional Call
|
|
|
Amount (000)
|
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
Education and Civic Organizations – 8.3% (5.2% of Total Investments)
|
|
|
|
$ 750
|
|
Fayetteville State University, North Carolina, Limited Obligation Revenue Bonds, Student
|
4/21 at 100.00
|
AA–
|
$ 797,543
|
|
|
Housing Project, Series 2011, 5.000%, 4/01/43 – AGM Insured
|
|
|
|
150
|
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Johnson and Wales
|
4/13 at 100.00
|
N/R
|
151,172
|
|
|
University, Series 2003A, 5.000%, 4/01/33 – SYNCORA GTY Insured
|
|
|
|
285
|
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A, 5.375%,
|
No Opt. Call
|
A+
|
291,931
|
|
|
4/01/17 – AMBAC Insured
|
|
|
|
1,750
|
|
University of North Carolina, Chapel Hill, System Net Revenue Bonds, Series 2001A,
|
6/12 at 100.00
|
Aaa
|
1,756,370
|
|
|
5.000%, 12/01/25
|
|
|
|
2,935
|
|
Total Education and Civic Organizations
|
|
|
2,997,016
|
|
|
Health Care – 28.9% (17.9% of Total Investments)
|
|
|
|
590
|
|
Albemarle Hospital Authority, North Carolina, Health Care Facilities Revenue Bonds, Series
|
10/17 at 100.00
|
N/R
|
523,684
|
|
|
2007, 5.250%, 10/01/38
|
|
|
|
950
|
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue
|
1/18 at 100.00
|
AA–
|
990,689
|
|
|
Bonds, Series 2008A, 5.000%, 1/15/47
|
|
|
|
1,000
|
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Refunding Revenue Bonds,
|
1/19 at 100.00
|
AA–
|
1,084,790
|
|
|
Carolinas HealthCare System, Series 2009A, 5.250%, 1/15/39
|
|
|
|
250
|
|
Johnston Memorial Hospital Authority, North Carolina, Mortgage Revenue Bonds, Johnston
|
4/18 at 100.00
|
AA–
|
271,158
|
|
|
Memorial Hospital Project, Series 2008A, 5.250%, 10/01/36 – AGM Insured
|
|
|
|
30
|
|
New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical
|
10/19 at 100.00
|
AA–
|
32,712
|
|
|
Center, Series 2006B, 5.125%, 10/01/31 – AGM Insured
|
|
|
|
|
|
North Carolina Medical Care Commission Health Care Facilities Revenue Bonds Novant Health
|
|
|
|
|
|
Inc., Series 2010A:
|
|
|
|
1,000
|
|
5.250%, 11/01/40
|
11/20 at 100.00
|
A+
|
1,062,520
|
500
|
|
5.000%, 11/01/43
|
11/20 at 100.00
|
A+
|
519,030
|
250
|
|
North Carolina Medical Care Commission, Health Care Facilities Refunding Revenue Bonds, Blue
|
1/20 at 100.00
|
A
|
253,953
|
|
|
Ridge HealthCare, Series 2010A, 5.000%, 1/01/36
|
|
|
|
180
|
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Appalachian
|
7/21 at 100.00
|
BBB+
|
206,672
|
|
|
Regional HealthCare System, Series 2011A, 6.500%, 7/01/31
|
|
|
|
330
|
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Series
|
10/14 at 100.00
|
AA–
|
343,751
|
|
|
2009A, 5.625%, 10/01/38 – AGC Insured
|
|
|
|
1,110
|
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Union Regional
|
7/12 at 100.00
|
AA–
|
1,113,230
|
|
|
Medical Center, Series 2002A, 5.250%, 1/01/15
|
|
|
|
980
|
|
North Carolina Medical Care Commission, Healthcare Revenue Bonds, Carolina Medicorp, Series
|
5/12 at 100.00
|
A+
|
981,823
|
|
|
1996, 5.250%, 5/01/26
|
|
|
|
1,500
|
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Southeastern Regional Medical
|
6/12 at 101.00
|
A
|
1,521,420
|
|
|
Center, Series 2002, 5.250%, 6/01/22
|
|
|
|
500
|
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Wilson Medical Center, Series
|
11/17 at 100.00
|
A–
|
547,550
|
|
|
2007, 5.000%, 11/01/20
|
|
|
|
250
|
|
North Carolina Medical Care Commission, Revenue Bonds, Blue Ridge Healthcare System, Series
|
1/15 at 100.00
|
A
|
252,650
|
|
|
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
|
159,852
|
|
|
Bonds, Series 2008, 6.250%, 10/01/38
|
|
|
|
500
|
|
Onslow County Hospital Authority, North Carolina, FHA Insured Mortgage Revenue Bonds, Onslow
|
10/16 at 100.00
|
BBB
|
523,210
|
|
|
Memorial Hospital Project, Series 2006, 5.000%, 4/01/31 – NPFG Insured
|
|
|
|
10,070
|
|
Total Health Care
|
|
|
10,388,694
|
|
|
Housing/Single Family – 5.3% (3.3% of Total Investments)
|
|
|
|
305
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement,
|
7/12 at 100.00
|
AA
|
305,217
|
|
|
Series 10A, 5.400%, 7/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
|
|
|
225
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2007-29A, 4.800%,
|
1/17 at 100.00
|
AA
|
228,332
|
|
|
7/01/33 (Alternative Minimum Tax)
|
|
|
|
1,000
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2011-1,
|
1/21 at 100.00
|
AA
|
1,052,090
|
|
|
4.500%, 1/01/28
|
|
|
|
320
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 25-A, 4.900%,
|
7/16 at 100.00
|
AA
|
324,410
|
|
|
7/01/37 (Alternative Minimum Tax)
|
|
|
|
1,850
|
|
Total Housing/Single Family
|
|
|
1,910,049
|
|
|
Long-Term Care – 1.8% (1.1% of Total Investments)
|
|
|
|
|
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Presbyterian
|
|
|
|
|
|
Homes, Series 2006:
|
|
|
|
200
|
|
5.400%, 10/01/27
|
10/16 at 100.00
|
N/R
|
200,714
|
300
|
|
5.500%, 10/01/31
|
10/16 at 100.00
|
N/R
|
300,465
|
150
|
|
North Carolina Medical Care Commission, Revenue Bonds, Pines at Davidson, Series 2006A,
|
1/16 at 100.00
|
N/R
|
150,797
|
|
|
5.000%, 1/01/36
|
|
|
|
650
|
|
Total Long-Term Care
|
|
|
651,976
|
|
|
Materials – 1.1% (0.7% of Total Investments)
|
|
|
|
400
|
|
Columbus County Industrial Facilities and Pollution Control Financing Authority, North
|
3/17 at 100.00
|
BBB
|
400,796
|
|
|
Carolina, Environmental Improvement Revenue Bonds, International Paper Company Project,
|
|
|
|
|
|
Series 2007A, 4.625%, 3/01/27
|
|
|
|
|
|
Tax Obligation/General – 11.0% (6.8% of Total Investments)
|
|
|
|
1,000
|
|
Durham, North Carolina, General Obligation Bonds, Series 2007, 5.000%, 4/01/21
|
4/17 at 100.00
|
AAA
|
1,163,920
|
|
|
North Carolina State, General Obligation Bonds, Series 2004A:
|
|
|
|
1,000
|
|
5.000%, 3/01/18
|
3/14 at 100.00
|
AAA
|
1,088,110
|
1,000
|
|
5.000%, 3/01/22
|
3/14 at 100.00
|
AAA
|
1,083,080
|
550
|
|
Wake County, North Carolina, Limited Obligation Bonds, Series 2010, 5.000%, 1/01/37
|
1/20 at 100.00
|
AA+
|
613,091
|
3,550
|
|
Total Tax Obligation/General
|
|
|
3,948,201
|
|
|
Tax Obligation/Limited – 25.1% (15.5% of Total Investments)
|
|
|
|
1,400
|
|
Charlotte, North Carolina, Certificates of Participation, Governmental Facilities Projects,
|
6/13 at 100.00
|
AA+
|
1,447,110
|
|
|
Series 2003G, 5.375%, 6/01/26 (UB)
|
|
|
|
305
|
|
Charlotte, North Carolina, Certificates of Participation, Transit Projects Phase 2, Series
|
6/18 at 100.00
|
AA+
|
330,220
|
|
|
2008A, 5.000%, 6/01/33
|
|
|
|
160
|
|
Craven County, North Carolina, Certificates of Participation, Series 2007, 5.000%, 6/01/23 –
|
6/17 at 100.00
|
AA–
|
178,910
|
|
|
NPFG Insured
|
|
|
|
1,250
|
|
Davidson County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/21 –
|
6/14 at 100.00
|
Aa3
|
1,323,525
|
|
|
AMBAC Insured
|
|
|
|
1,390
|
|
Durham, North Carolina, Certificates of Participation, Series 2005B, 5.000%, 6/01/25
|
6/15 at 100.00
|
AA+
|
1,546,750
|
135
|
|
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42
|
1/22 at 100.00
|
A
|
146,617
|
50
|
|
Harnett County, North Carolina, Certificates of Participation, Series 2009, 5.000%, 6/01/28 –
|
6/19 at 100.00
|
AA–
|
55,391
|
|
|
AGC Insured
|
|
|
|
1,500
|
|
North Carolina Turnpike Authority, Monroe Connector System State Appropriation Bonds, Series
|
7/21 at 100.00
|
AA
|
1,686,120
|
|
|
2011, 5.000%, 7/01/41
|
|
|
|
525
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2010A,
|
No Opt. Call
|
A+
|
147,147
|
|
|
0.000%, 8/01/35
|
|
|
|
470
|
|
Raleigh, North Carolina, Certificates of Participation, Downtown Improvement Project, Series
|
6/14 at 100.00
|
AA+
|
501,974
|
|
|
2004B, 5.000%, 6/01/20
|
|
|
|
170
|
|
Raleigh, North Carolina, Certificates of Participation, Series 2007, 5.000%, 2/01/27
|
2/17 at 100.00
|
AA+
|
186,295
|
150
|
|
Rutherford County, North Carolina, Certificates of Participation, Series 2007, 5.000%,
|
12/17 at 100.00
|
AA–
|
165,377
|
|
|
12/01/27 – AGM Insured
|
|
|
|
700
|
|
Sampson County, North Carolina, Certificates of Participation, Series 2006, 5.000%, 6/01/34 –
|
6/17 at 100.00
|
AA–
|
741,174
|
|
|
AGM Insured (UB)
|
|
|
|
250
|
|
Wilmington, North Carolina, Certificates of Participation, Series 2008A, 5.000%, 6/01/29
|
6/18 at 100.00
|
AA
|
276,735
|
250
|
|
Wilson County, North Carolina, Certificates of Participation, School Facilities Project,
|
4/17 at 100.00
|
Aa3
|
272,073
|
|
|
Series 2007, 5.000%, 4/01/25 – AMBAC Insured
|
|
|
|
8,705
|
|
Total Tax Obligation/Limited
|
|
|
9,005,418
|
|
|
Transportation – 15.1% (9.3% of Total Investments)
|
|
|
|
1,000
|
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International Refunding
|
7/20 at 100.00
|
Aa3
|
1,090,620
|
|
|
Series 2010A, 5.000%, 7/01/39
|
|
|
|
700
|
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series
|
No Opt. Call
|
Aa3
|
739,809
|
|
|
2010B, 5.000%, 7/01/36 (Alternative Minimum Tax)
|
|
|
|
360
|
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010A,
|
2/20 at 100.00
|
A3
|
391,151
|
|
|
5.250%, 2/01/40
|
|
|
|
500
|
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010B,
|
2/20 at 100.00
|
A3
|
543,015
|
|
|
5.000%, 2/01/29
|
|
|
|
|
|
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A:
|
|
|
|
140
|
|
5.000%, 1/01/21 – AGC Insured
|
No Opt. Call
|
AA–
|
162,779
|
50
|
|
5.375%, 1/01/26 – AGC Insured
|
1/19 at 100.00
|
AA–
|
56,910
|
285
|
|
5.500%, 1/01/29 – AGC Insured
|
1/19 at 100.00
|
AA–
|
322,067
|
275
|
|
5.750%, 1/01/39 – AGC Insured
|
1/19 at 100.00
|
AA–
|
308,333
|
|
|
North Carolina Turnpike Authority, Triangle Expressway System Senior Lien Revenue Bonds,
|
|
|
|
|
|
Series 2009B:
|
|
|
|
2,300
|
|
0.000%, 1/01/34 – AGC Insured
|
No Opt. Call
|
AA–
|
822,411
|
175
|
|
0.000%, 1/01/38 – AGC Insured
|
No Opt. Call
|
AA–
|
50,552
|
300
|
|
Piedmont Triad Airport Authority, North Carolina, Airport Revenue Bonds, Series 2005A, 5.000%,
|
7/15 at 100.00
|
A–
|
326,082
|
|
|
7/01/20 – SYNCORA GTY Insured
|
|
|
|
550
|
|
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series
|
No Opt. Call
|
Aa3
|
607,965
|
|
|
2010A, 5.000%, 5/01/36
|
|
|
|
6,635
|
|
Total Transportation
|
|
|
5,421,694
|
|
|
U.S. Guaranteed – 12.9% (7.9% of Total Investments) (4)
|
|
|
|
100
|
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA
|
1/15 at 100.00
|
AA+ (4)
|
113,241
|
|
|
Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
|
|
|
1,870
|
|
Dare County, North Carolina, Certificates of Participation, Series 2002, 5.250%, 6/01/15
|
12/12 at 100.00
|
AA– (4)
|
1,941,621
|
|
|
(Pre-refunded 12/01/12) – AMBAC Insured
|
|
|
|
300
|
|
North Carolina Medical Care Commission, Revenue Bonds, Northeast Medical Center, Series 2004,
|
11/14 at 100.00
|
Aa3 (4)
|
336,138
|
|
|
5.000%, 11/01/24 (Pre-refunded 11/01/14)
|
|
|
|
|
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A:
|
|
|
|
235
|
|
5.375%, 4/01/17 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
241,834
|
1,020
|
|
5.375%, 4/01/17 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
1,051,447
|
910
|
|
5.375%, 4/01/17 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
937,946
|
4,435
|
|
Total U.S. Guaranteed
|
|
|
4,622,227
|
|
|
Utilities – 8.0% (4.9% of Total Investments)
|
|
|
|
500
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005,
|
1/16 at 100.00
|
A–
|
566,180
|
|
|
5.250%, 1/01/20 – AMBAC Insured
|
|
|
|
745
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series
|
7/12 at 100.00
|
Baa1
|
747,742
|
|
|
1993B, 5.500%, 1/01/17 – FGIC Insured
|
|
|
|
25
|
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series
|
1/19 at 100.00
|
A
|
27,542
|
|
|
2009A, 5.000%, 1/01/30
|
|
|
|
1,500
|
|
Wake County Industrial Facilities and Pollution Control Financing Authority, North Carolina,
|
2/13 at 100.50
|
A1
|
1,520,895
|
|
|
Revenue Refunding Bonds, Carolina Power and Light Company, Series 2002, 5.375%, 2/01/17
|
|
|
|
2,770
|
|
Total Utilities
|
|
|
2,862,359
|
|
|
Water and Sewer – 44.3% (27.4% of Total Investments)
|
|
|
|
100
|
|
Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%,
|
4/18 at 100.00
|
AA–
|
111,435
|
|
|
4/01/31 – AGM Insured
|
|
|
|
505
|
|
Cape Fear Public Utility Authority, North Carolina, Water & Sewer System Revenue Bonds, Series
|
8/18 at 100.00
|
AA
|
568,867
|
|
|
2008, 5.000%, 8/01/35
|
|
|
|
1,000
|
|
Charlotte, North Carolina, Water and Sewerage System Revenue Bonds, Series 2008,
|
7/18 at 100.00
|
AAA
|
1,111,280
|
|
|
5.000%, 7/01/38
|
|
|
|
250
|
|
Dare County, North Carolina, Utilities System Revenue Bonds, Series 2011, 5.000%, 2/01/41
|
2/21 at 100.00
|
AA
|
277,810
|
1,500
|
|
Durham, North Carolina, Utility System Revenue Bonds, Refunding Series 2011, 5.000%, 6/01/41
|
6/21 at 100.00
|
AAA
|
1,693,570
|
500
|
|
Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2005A,
|
6/15 at 100.00
|
AAA
|
542,880
|
|
|
5.000%, 6/01/25
|
|
|
|
700
|
|
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A, 6.000%, 6/01/34 –
|
6/19 at 100.00
|
AA–
|
802,781
|
|
|
AGC Insured
|
|
|
|
400
|
|
Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004B, 5.000%,
|
6/14 at 100.00
|
A+
|
431,948
|
|
|
6/01/23 – SYNCORA GTY Insured
|
|
|
|
550
|
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A,
|
7/18 at 100.00
|
Baa2
|
591,415
|
|
|
6.000%, 7/01/44
|
|
|
|
|
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A:
|
|
|
|
4,440
|
|
5.000%, 3/01/31 (UB)
|
3/16 at 100.00
|
AAA
|
4,962,100
|
3,000
|
|
5.000%, 3/01/36 (UB)
|
3/16 at 100.00
|
AAA
|
3,305,970
|
5
|
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A, Residuals
|
No Opt. Call
|
AAA
|
6,529
|
|
|
Series 11-R-645-2, 13.961%, 3/01/14 (IF)
|
|
|
|
1,385
|
|
Winston-Salem, North Carolina, Water and Sewer System Revenue Bonds, Series 2007A, 5.000%,
|
6/17 at 100.00
|
AAA
|
1,512,711
|
|
|
6/01/37 (UB)
|
|
|
|
14,335
|
|
Total Water and Sewer
|
|
|
15,919,296
|
$ 56,335
|
|
Total Investments (cost $54,375,959) – 161.8%
|
|
|
58,127,726
|
|
|
Floating Rate Obligations – (19.9)%
|
|
|
(7,160,000)
|
|
|
MuniFund Term Preferred Shares, at Liquidation Value – (46.2)% (5)
|
|
|
(16,600,000)
|
|
|
Other Assets Less Liabilities – 4.3%
|
|
|
1,559,739
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 35,927,465
|