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 811-21152
 
Nuveen Georgia Dividend Advantage Municipal Fund 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:            5/31          
 
Date of reporting period:         2/28/14         
 
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 (Unaudited)
     
 
   
   Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG)
     
   
February 28, 2014
     
 
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 150.4% (100.0% of Total Investments)
     
   
MUNICIPAL BONDS – 150.4% (100.0% of Total Investments)
     
   
Education and Civic Organizations – 15.7% (10.5% of Total Investments)
     
$ 1,760
 
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus
6/19 at 100.00
Aa2
$ 1,896,629
   
Housing LLC Project, Series 2009, 5.250%, 6/15/35
     
5,000
 
Atlanta Development Authority, Georgia, Educational Facilities Revenue Bonds, Science Park LLC
7/17 at 100.00
Aa3
5,209,350
   
Project, Series 2007, 5.000%, 7/01/39
     
700
 
Carrollton Payroll Development Authority, Georgia, Student Housing Revenue Bonds, University
9/14 at 100.00
A1
716,513
   
of West Georgia, Series 2004A, 5.000%, 9/01/21 – SYNCORA GTY Insured
     
1,340
 
Douglas County Development Authority, Georgia, Charter School Revenue Bonds, Brighten Academy
10/23 at 100.00
N/R
1,357,594
   
Project, Series 2013B, 7.000%, 10/01/43
     
625
 
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Foundation
5/22 at 100.00
AA+
695,588
   
Technology Square Project, Series 2012A, 5.000%, 11/01/31
     
1,535
 
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Molecular Science
5/14 at 100.00
Aa3
1,548,631
   
Building, Series 2004, 5.250%, 5/01/15 – NPFG Insured
     
150
 
Georgia Higher Education Facilities Authority, Revenue Bonds, USG Real Estate Foundation I LLC
6/18 at 100.00
A2
170,612
   
Project, Series 2008, 6.000%, 6/15/28
     
   
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series
     
   
2009, Trust 3404:
     
730
 
18.266%, 3/01/17 (IF)
No Opt. Call
AA+
1,039,863
1,150
 
18.296%, 3/01/17 (IF)
No Opt. Call
AA+
1,584,562
3,000
 
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series
10/23 at 100.00
AA+
3,258,090
   
2013A, 5.000%, 10/01/43
     
1,325
 
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University
10/22 at 100.00
Baa2
1,384,069
   
Project, Refunding Series 2012C, 5.250%, 10/01/30
     
1,000
 
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series
10/21 at 100.00
Baa2
1,016,690
   
2012A, 5.000%, 10/01/32
     
1,180
 
Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State
7/15 at 100.00
A2
1,247,307
   
University, Compass Point LLC Project, Series 2005, 5.000%, 7/01/25 – SYNCORA GTY Insured
     
1,490
 
Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Center LLC, Series
12/15 at 100.00
A3
1,567,599
   
2005A, 5.000%, 12/01/34 – SYNCORA GTY Insured
     
20,985
 
Total Education and Civic Organizations
   
22,693,097
   
Health Care – 16.0% (10.6% of Total Investments)
     
   
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center,
     
   
Series 1998:
     
205
 
5.250%, 12/01/22
6/14 at 100.00
B
193,159
745
 
5.375%, 12/01/28
6/14 at 100.00
B
668,101
   
Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical
     
   
Center, Series 2004:
     
285
 
5.000%, 12/01/19
12/14 at 100.00
BB–
285,009
2,400
 
5.250%, 12/01/22
12/14 at 100.00
BB–
2,392,296
255
 
5.000%, 12/01/26
12/14 at 100.00
BB–
242,163
715
 
Coweta County Development Authority, Georgia, Revenue Bonds, Piedmont Healthcare, Inc.
6/20 at 100.00
AA–
731,023
   
Project, Series 2010, 5.000%, 6/15/40
     
2,500
 
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional
12/20 at 100.00
N/R
2,628,275
   
Medical Center Project, Series 2010, 8.000%, 12/01/40
     
   
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates,
     
   
Northeast Georgia Health Services Inc., Series 2010B:
     
1,000
 
5.000%, 2/15/33
2/20 at 100.00
AA–
1,037,800
1,000
 
5.125%, 2/15/40
2/20 at 100.00
AA–
1,030,510
3,945
 
5.250%, 2/15/45
2/41 at 100.00
AA–
4,090,886
1,620
 
Greene County Development Authority, Georgia, Health System Revenue Bonds, Catholic Health
No Opt. Call
Aa2
1,687,829
   
East Issue, Series 2012, 5.000%, 11/15/37
     
2,540
 
Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project, Series
10/17 at 100.00
A+
2,605,811
   
2007, 5.250%, 10/01/35
     
   
Macon-Bibb County Hospital Authority, Georgia, Revenue Anticipation Certificates, Medical
     
   
Center of Central Georgia Inc., Series 2009:
     
425
 
5.000%, 8/01/32
8/19 at 100.00
AA
447,844
975
 
5.000%, 8/01/35
8/19 at 100.00
AA
1,017,510
1,470
 
Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus
No Opt. Call
AA–
1,655,793
   
Regional Healthcare System, Inc. Project, Series 2010, 5.000%, 8/01/21 – AGM Insured
     
2,300
 
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia
10/17 at 100.00
A+
2,334,615
   
Medical Center, Series 2007, 5.000%, 10/01/33
     
22,380
 
Total Health Care
   
23,048,624
   
Housing/Multifamily – 4.9% (3.3% of Total Investments)
     
1,205
 
Atlanta Urban Residential Finance Authority, Georgia, Multifamily Housing Revenue Bonds,
11/23 at 100.00
A–
1,092,381
   
Trestletree Village Apartments, Series 2013A, 4.500%, 11/01/35
     
1,600
 
Cobb County Development Authority, Georgia, Revenue Bonds, KSU University II Real Estate
7/21 at 100.00
AA–
1,668,576
   
Foundation, LLC Project, Series 2011, 5.000%, 7/15/41 – AGM Insured
     
1,375
 
Cobb County Development Authority, Georgia, Student Housing Revenue Bonds, KSU Village II Real
7/17 at 100.00
Baa2
1,381,036
   
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)
11/14 at 100.00
AA+
505,165
980
 
5.200%, 11/20/27 (Alternative Minimum Tax)
11/14 at 100.00
AA+
987,232
1,465
 
5.250%, 11/20/32 (Alternative Minimum Tax)
11/14 at 100.00
AA+
1,473,043
7,125
 
Total Housing/Multifamily
   
7,107,433
   
Housing/Single Family – 0.8% (0.5% of Total Investments)
     
   
Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2006C-2:
     
1,000
 
4.500%, 12/01/27 (Alternative Minimum Tax)
12/15 at 100.00
AAA
1,008,160
170
 
4.550%, 12/01/31 (Alternative Minimum Tax)
12/15 at 100.00
AAA
170,403
1,170
 
Total Housing/Single Family
   
1,178,563
   
Industrials – 3.0% (2.0% of Total Investments)
     
2,190
 
Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste
4/16 at 101.00
A–
2,259,839
   
Management Project, Series 2004A, 5.000%, 4/01/33 (Alternative Minimum Tax)
     
2,000
 
Fulton County Development Authority, Georgia, Local District Cooling Authority Revenue Bonds,
9/15 at 100.00
BBB
2,006,360
   
Maxon Atlantic Station LLC, Series 2005A, 5.125%, 3/01/26 (Mandatory put 3/01/15)
     
   
(Alternative Minimum Tax)
     
4,190
 
Total Industrials
   
4,266,199
   
Materials – 2.3% (1.5% of Total Investments)
     
2,000
 
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds,
8/14 at 100.00
BBB
2,000,780
   
International Paper Company, Series 2001A, 6.250%, 2/01/25 (Alternative Minimum Tax)
     
20
 
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds,
5/14 at 100.00
BBB
20,005
   
International Paper Company, Series 2003A, 5.750%, 11/01/27 (Alternative Minimum Tax)
     
850
 
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Refunding
8/14 at 100.00
BBB
850,340
   
Bonds, International Paper Company, Series 2002A, 6.000%, 2/01/25 (Alternative Minimum Tax)
     
390
 
Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union Camp
No Opt. Call
Baa3
418,228
   
Corporation, Series 1995, 6.150%, 3/01/17
     
3,260
 
Total Materials
   
3,289,353
   
Tax Obligation/General – 40.6% (27.0% of Total Investments)
     
2,000
 
Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement
1/22 at 100.00
AA
2,139,640
   
Revenue Bonds, Memorial Health University Medical Center Inc., Series 2012A, 5.000%, 1/01/31
     
1,500
 
Cherokee County Resource Recovery Development Authority, Georgia, Solid Waste Disposal
7/17 at 100.00
AA+
1,531,575
   
Revenue Bonds, Ball Ground Recycling LLC Project, Series 2007A, 5.000%, 7/01/37 – AMBAC
     
   
Insured (Alternative Minimum Tax)
     
1,000
 
Clark County Hospital Authority, Georgia, Hospital Revenue Bonds, Athens Regional Medical
1/17 at 100.00
Aa1
1,079,710
   
Center, Series 2007, 5.000%, 1/01/27 – NPFG Insured
     
600
 
Clarke County Hospital Authority, Georgia, Hospital Revenue Certificates, Athens Regional
1/22 at 100.00
Aa1
634,014
   
Medical Center, Series 2012, 5.000%, 1/01/32
     
3,315
 
Decatur, Georgia, General Obligation Bonds, Series 2007, 5.000%, 1/01/31 – AGM Insured
1/17 at 100.00
AA+
3,557,393
2,000
 
East Point Building Authority, Georgia, Revenue Bonds, Water and Sewer Project Series 2006A,
2/16 at 100.00
N/R
1,991,180
   
5.000%, 2/01/34 – SYNCORA GTY Insured
     
1,090
 
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical
7/15 at 100.00
Aa2
1,105,336
   
Center, Series 2003, 5.000%, 7/01/19 – NPFG Insured
     
1,135
 
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical
No Opt. Call
Aa2
1,299,609
   
Center, Series 2012B, 5.000%, 7/01/23
     
1,500
 
Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2007, 5.000%,
4/17 at 100.00
Aaa
1,614,855
   
4/01/37 – AGM Insured
     
6,400
 
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization
3/21 at 100.00
Aaa
6,987,904
   
Bonds, Loan Pool Series 2011, 5.125%, 3/15/31
     
   
Georgia Municipal Association Inc., Certificates of Participation, Riverdale Public Purpose
     
   
Project, Series 2009:
     
905
 
5.375%, 5/01/32 – AGC Insured
5/19 at 100.00
AA–
961,074
1,165
 
5.500%, 5/01/38 – AGC Insured
5/19 at 100.00
AA–
1,227,234
3,500
 
Georgia State, General Obligation Bonds, Refunding Series 2009I, 5.000%, 7/01/19
No Opt. Call
AAA
4,215,260
750
 
Georgia State, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15
No Opt. Call
AAA
810,780
2,500
 
Georgia State, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15
No Opt. Call
AAA
2,663,325
2,500
 
Georgia State, General Obligation Bonds, Series 2007E, 5.000%, 8/01/24
8/17 at 100.00
AAA
2,834,925
1,000
 
Georgia State, General Obligation Bonds, Series 2009B, 5.000%, 1/01/26
1/19 at 100.00
AAA
1,168,700
4,900
 
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008, 5.000%,
2/18 at 100.00
AAA
5,373,732
   
2/01/36 (UB)
     
3,500
 
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2013,
2/23 at 100.00
AAA
3,909,325
   
5.000%, 2/01/36
     
   
Henry County Hospital Authority, Georgia, Revenue Certificates, Henry Medical Center,
     
   
Series 2004:
     
1,560
 
5.000%, 7/01/20 – NPFG Insured
7/14 at 101.00
Aa1
1,600,279
1,500
 
5.000%, 7/01/34 – NPFG Insured
7/14 at 101.00
Aa1
1,520,085
445
 
La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series
7/18 at 100.00
Aa2
485,161
   
2008A, 5.500%, 7/01/38
     
1,579
 
Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2011A-1, 4.600%, 7/01/26
No Opt. Call
N/R
1,313,825
2,475
 
Paulding County School District, Georgia, General Obligation Bonds, Series 2007,
2/17 at 100.00
AA+
2,668,446
   
5.000%, 2/01/33
     
2,250
 
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia
10/21 at 100.00
Aa2
2,322,315
   
Medical Center Project, Series 2011B, 5.000%, 10/01/41
     
1,450
 
Wayne County Hospital Authority, Georgia, Hospital Revenue Bonds, Series 2006, 5.000%,
3/16 at 100.00
N/R
1,459,208
   
3/01/23 – SYNCORA GTY Insured
     
2,000
 
Winder-Barrow Industrial Building Authority, Georgia, Revenue Bonds, City of Winder Project,
12/21 at 100.00
A1
2,198,620
   
Refunding Series 2012, 5.000%, 12/01/29 – AGM Insured
     
54,519
 
Total Tax Obligation/General
   
58,673,510
   
Tax Obligation/Limited – 21.4% (14.2% of Total Investments)
     
   
Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007:
     
110
 
5.250%, 12/01/19 – AGC Insured
12/17 at 100.00
AA–
122,454
50
 
5.250%, 12/01/20
No Opt. Call
AA–
54,535
80
 
5.250%, 12/01/21 – AGC Insured
12/17 at 100.00
AA–
86,329
1,080
 
5.000%, 12/01/23 – AGC Insured
12/17 at 100.00
AA–
1,139,875
1,500
 
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed,
1/19 at 100.00
A2
1,751,985
   
7.375%, 1/01/31
     
275
 
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008C. Remarketed,
1/19 at 100.00
A2
322,713
   
7.500%, 1/01/31
     
395
 
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16
7/15 at 100.00
A–
416,796
   
(Alternative Minimum Tax)
     
   
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005B:
     
2,065
 
5.400%, 1/01/20
7/15 at 100.00
A–
2,164,327
2,750
 
5.600%, 1/01/30
7/15 at 100.00
A–
2,875,318
725
 
Atlanta, Georgia, Tax Allocation Bonds, Perry Bolton Project Series 2014, 5.000%, 7/01/41
7/23 at 100.00
A–
733,316
3,420
 
Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31
1/16 at 100.00
BBB–
3,439,939
1,725
 
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Performing Arts
No Opt. Call
AAA
2,090,545
   
Center, Refunding Series 2013, 5.000%, 1/01/21
     
380
 
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Refunding Series
No Opt. Call
A+
442,708
   
2005, 5.500%, 10/01/26 – NPFG Insured
     
   
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds,
     
   
Series 1993:
     
395
 
5.500%, 10/01/18 – NPFG Insured
No Opt. Call
A
422,828
5,745
 
5.625%, 10/01/26 – NPFG Insured
10/19 at 100.00
A
6,347,478
2,970
 
Georgia Local Governments, Certificates of Participation, Georgia Municipal Association,
No Opt. Call
A
3,020,668
   
Series 1998A, 4.750%, 6/01/28 – NPFG Insured
     
750
 
Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project,
6/14 at 100.00
N/R
751,260
   
Series 2002, 5.125%, 12/01/21 – AMBAC Insured
     
3,460
 
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds,
No Opt. Call
Aa2
3,864,751
   
Series 1992P, 6.250%, 7/01/20 – AMBAC Insured
     
810
 
Tift County Hospital Authority, Georgia, Revenue Anticipation Certificates Series 2012,
No Opt. Call
Aa2
849,455
   
5.000%, 12/01/38
     
28,685
 
Total Tax Obligation/Limited
   
30,897,280
   
Transportation – 10.3% (6.9% of Total Investments)
     
2,290
 
Atlanta, Georgia, Airport General Revenue Bonds, Series 2004G, 5.000%, 1/01/26 – AGM Insured
1/15 at 100.00
AA–
2,368,616
2,000
 
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012B, 5.000%, 1/01/31
No Opt. Call
A+
2,155,000
2,810
 
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012C, 5.000%, 1/01/42 (Alternative
1/22 at 100.00
A+
2,891,518
   
Minimum Tax)
     
2,000
 
Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2011B, 5.000%, 1/01/30
1/21 at 100.00
A+
2,109,380
1,000
 
Atlanta, Georgia, Airport Passenger Facilities Charge Revenue Bonds, Refunding Series 2004C,
7/14 at 100.00
AA–
1,013,740
   
5.000%, 1/01/33 – AGM Insured
     
2,500
 
Atlanta, Georgia, Airport Passenger Facilities Charge Revenue Bonds, Series 2004J, 5.000%,
1/15 at 100.00
AA–
2,574,250
   
1/01/34 – AGM Insured
     
1,500
 
Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air
6/20 at 100.00
B+
1,803,375
   
Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29
     
14,100
 
Total Transportation
   
14,915,879
   
U.S. Guaranteed – 3.9% (2.6% of Total Investments) (4)
     
   
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004:
     
500
 
5.250%, 11/01/15 (Pre-refunded 11/01/14) – AGM Insured
11/14 at 100.00
AA- (4)
517,365
2,425
 
5.000%, 11/01/24 (Pre-refunded 11/01/14) – AGM Insured
11/14 at 100.00
AA- (4)
2,505,122
1,550
 
Bulloch County Development Authority, Georgia, Student Housing and Athletic Facility Lease
8/14 at 100.00
A1 (4)
1,583,930
   
Revenue Bonds, Georgia Southern University, Series 2004, 5.250%, 8/01/21 (Pre-refunded
     
   
8/01/14) – SYNCORA GTY Insured
     
1,000
 
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue
12/15 at 100.00
Aa2 (4)
1,083,680
   
Bonds, Series 2005, 5.000%, 6/01/29 (Pre-refunded 12/01/15) – NPFG Insured
     
10
 
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z,
1/17 at 100.00
A+ (4)
10,814
   
5.500%, 1/01/20 (Pre-refunded 1/01/17) – FGIC Insured
     
5,485
 
Total U.S. Guaranteed
   
5,700,911
   
Utilities – 10.0% (6.6% of Total Investments)
     
525
 
Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power
No Opt. Call
A
536,141
   
Company – Vogtle Plant, First Series 2012, 1.750%, 12/01/49 (Mandatory put 6/01/17)
     
2,000
 
Georgia Municipal Electric Authority, General Power Revenue Bonds, Project 1, Series 2007A,
1/17 at 100.00
A+
2,178,500
   
5.000%, 1/01/25 – NPFG Insured
     
3,000
 
Georgia Municipal Electric Authority, General Power Revenue Bonds, Series 2012GG,
1/23 at 100.00
A+
3,158,580
   
5.000%, 1/01/43
     
505
 
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z,
No Opt. Call
A+
550,536
   
5.500%, 1/01/20 – FGIC Insured
     
   
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B:
     
1,050
 
5.000%, 3/15/20
No Opt. Call
A
1,176,735
1,300
 
5.000%, 3/15/21
No Opt. Call
A
1,450,917
1,500
 
5.000%, 3/15/22
No Opt. Call
A
1,666,920
   
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A:
     
350
 
5.125%, 9/15/17
No Opt. Call
A
389,928
950
 
5.000%, 3/15/18
No Opt. Call
A+
1,060,305
2,000
 
5.000%, 3/15/22
No Opt. Call
A+
2,265,720
13,180
 
Total Utilities
   
14,434,282
   
Water and Sewer – 21.5% (14.3% of Total Investments)
     
   
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004:
     
260
 
5.750%, 11/01/30 – AGM Insured
No Opt. Call
AA–
316,571
700
 
5.000%, 11/01/37 – AGM Insured
11/14 at 100.00
AA–
703,626
5,105
 
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2001, 5.000%,
8/18 at 100.00
AA
5,502,833
   
8/01/35 – AGM Insured
     
   
Coweta County Water and Sewer Authority, Georgia, Revenue Bonds, Series 2007:
     
1,000
 
5.000%, 6/01/32
6/18 at 100.00
Aa2
1,090,250
2,000
 
5.000%, 6/01/37
6/18 at 100.00
Aa2
2,139,200
   
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Refunding Series 2006B:
     
6,000
 
5.250%, 10/01/32 – AGM Insured
10/26 at 100.00
Aa2
6,867,238
300
 
5.000%, 10/01/35 – AGM Insured
No Opt. Call
Aa2
328,662
5,350
 
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Second Resolution Series 2011A,
10/21 at 100.00
Aa3
5,782,120
   
5.250%, 10/01/41
     
2,225
 
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewage Revenue
6/17 at 100.00
Aa2
2,372,737
   
Bonds, Series 2007, 5.000%, 6/01/37 – NPFG Insured
     
1,000
 
Fulton County, Georgia, Water and Sewerage Revenue Bonds, Refunding Series 2013,
1/23 at 100.00
AA–
1,101,580
   
5.000%, 1/01/33
     
500
 
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization
2/21 at 100.00
Aaa
539,070
   
Bonds, Cobb County-Marietta Water Authority Loans, Series 2011, 5.250%, 2/15/36
     
1,000
 
Milledgeville, Georgia, Water and Sewerage Revenue Refunding Bonds, Series 1996, 6.000%,
No Opt. Call
AA–
1,183,870
   
12/01/21 – AGM Insured
     
1,000
 
Unified Government of Athens-Clarke County, Georgia, Water and Sewerage Revenue Bonds, Series
1/19 at 100.00
AA+
1,114,940
   
2008, 5.500%, 1/01/38
     
1,975
 
Walton County Water and Sewerage Authority, Georgia, Revenue Bonds, The Oconee-Hard Creek
2/18 at 100.00
Aa2
2,058,404
   
Reservoir Project, Series 2008, 5.000%, 2/01/38 – AGM Insured
     
28,415
 
Total Water and Sewer
   
31,101,101
$ 203,494
 
Total Long-Term Investments (cost $210,166,003)
   
217,306,232
   
Floating Rate Obligations – (2.2)%
   
(3,245,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (51.9)% (5)
   
(74,945,000)
   
Other Assets Less Liabilities – 3.7%
   
5,327,432
   
Net Assets Applicable to Common Shares – 100%
   
$ 144,443,664
 
 
 
 
 

 

 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive 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
$ —
$217,306,232
$ —
$217,306,232
 
 
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 February 28, 2014, the cost of investments was $206,830,113.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2014, were as follows:
   
Gross unrealized:
 
   Appreciation
$ 9,066,592
   Depreciation
(1,835,130)
Net unrealized appreciation (depreciation) of investments
$ 7,231,462
 
 
     
(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 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)
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.5%.
(IF)
 
Inverse floating rate investment.
(UB)
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
 
 
 

 
 
 

 
 
Item 2. Controls and Procedures.

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 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)).
 
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 Georgia Dividend Advantage Municipal Fund 2 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         April 29, 2014        
 
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:         April 29, 2014        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         April 29, 2014