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:         8/31/14         
 
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 (Unaudited)
      
 
   
Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG)
      
   
August 31, 2014
      
 
 
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 149.3% (100.0% of Total Investments)
      
 
   
MUNICIPAL BONDS – 149.3% (100.0% of Total Investments)
      
 
   
Education and Civic Organizations – 14.8% (9.9% of Total Investments)
      
$ 1,760
  
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus
6/19 at 100.00
Aa2
$ 1,939,256
   
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
5,429,200
   
Project, Series 2007, 5.000%, 7/01/39
      
700
  
Carrollton Payroll Development Authority, Georgia, Student Housing Revenue Bonds, University of
9/14 at 100.00
A1
702,800
   
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
1,432,728
   
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+
719,081
   
Technology Square Project, Refunding Series 2012A, 5.000%, 11/01/31
      
150
  
Georgia Higher Education Facilities Authority, Revenue Bonds, USG Real Estate Foundation I LLC
6/18 at 100.00
A2
171,963
   
Project, Series 2008, 6.000%, 6/15/28
      
   
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series 2009,
      
   
Trust 3404:
      
730
  
17.906%, 3/01/17 (IF)
No Opt. Call
AA+
1,130,398
1,150
  
17.936%, 3/01/17 (IF)
No Opt. Call
AA+
1,777,164
3,000
  
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series
10/23 at 100.00
AA+
3,426,690
   
2013A, 5.000%, 10/01/43
      
1,325
  
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University Project,
10/22 at 100.00
Baa2
1,456,215
   
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
1,055,160
   
2012A, 5.000%, 10/01/32
      
1,180
  
Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State
7/15 at 100.00
A2
1,226,020
   
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,
12/15 at 100.00
A3
1,553,817
   
Series 2005A, 5.000%, 12/01/34 – SYNCORA GTY Insured
      
19,450
  
Total Education and Civic Organizations
    
22,020,492
   
Health Care – 14.9% (10.0% of Total Investments)
      
   
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center,
      
   
Series 1998:
      
205
  
5.250%, 12/01/22
11/14 at 100.00
CCC
165,488
745
  
5.375%, 12/01/28
12/14 at 100.00
CCC
562,162
   
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–
285,730
2,400
  
5.250%, 12/01/22
12/14 at 100.00
BB–
2,404,464
255
  
5.000%, 12/01/26
12/14 at 100.00
BB–
255,145
715
  
Coweta County Development Authority, Georgia, Revenue Bonds, Piedmont Healthcare, Inc. Project,
6/20 at 100.00
AA–
759,015
   
Series 2010, 5.000%, 6/15/40
      
2,500
  
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical
12/20 at 100.00
N/R
1,214,679
   
Center Project, Series 2010, 8.000%, 12/01/40 (4)
      
   
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–
1,071,650
1,000
  
5.125%, 2/15/40
2/20 at 100.00
AA–
1,067,060
3,945
  
5.250%, 2/15/45
2/41 at 100.00
AA–
4,237,719
1,620
  
Greene County Development Authority, Georgia, Health System Revenue Bonds, Catholic Health
No Opt. Call
Aa2
1,795,090
   
East Issue, Series 2012, 5.000%, 11/15/37
      
2,540
  
Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project,
10/17 at 100.00
A+
2,655,341
   
Series 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
463,803
975
  
5.000%, 8/01/35
8/19 at 100.00
AA
1,058,246
1,470
  
Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus Regional
No Opt. Call
AA
1,678,284
   
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+
2,377,625
   
Medical Center, Series 2007, 5.000%, 10/01/33
      
22,380
  
Total Health Care
    
22,051,501
   
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–
1,228,076
   
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
1,732,800
   
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
7/17 at 100.00
Baa2
1,404,893
   
Real Estate Foundation LLC Project, Senior 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+
502,155
980
  
5.200%, 11/20/27 (Alternative Minimum Tax)
11/14 at 100.00
AA+
983,361
1,465
  
5.250%, 11/20/32 (Alternative Minimum Tax)
11/14 at 100.00
AA+
1,468,941
7,125
  
Total Housing/Multifamily
    
7,320,226
   
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
1,012,470
170
  
4.550%, 12/01/31 (Alternative Minimum Tax)
12/15 at 100.00
AAA
171,301
1,170
  
Total Housing/Single Family
    
1,183,771
   
Industrials – 2.9% (1.9% of Total Investments)
      
2,190
  
Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia
4/16 at 101.00
A–
2,280,907
   
Waste 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
2,010,520
   
Maxon Atlantic Station LLC, Series 2005A, 5.125%, 3/01/26 (Mandatory put 3/01/15) (Alternative
      
   
Minimum Tax)
      
4,190
  
Total Industrials
    
4,291,427
   
Materials – 0.3% (0.2% of Total Investments)
      
390
  
Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union
No Opt. Call
Baa2
420,763
   
Camp Corporation, Series 1995, 6.150%, 3/01/17
      
   
Tax Obligation/General – 41.8% (28.0% of Total Investments)
      
2,000
  
Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement
1/22 at 100.00
AA
2,242,760
   
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+
1,557,555
   
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
1,081,690
   
Center, Series 2007, 5.000%, 1/01/27 – NPFG Insured
      
600
  
Clarke County Hospital Authority, Georgia, Hospital Revenue Certificates, Athens Regional Medical
1/22 at 100.00
Aa1
673,248
   
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+
3,572,277
   
East Point Building Authority, Georgia, Revenue Bonds, Water and Sewer Project Series 2006A:
      
3,000
  
5.000%, 2/01/30 – SYNCORA GTY Insured
2/16 at 100.00
N/R
3,032,910
2,000
  
5.000%, 2/01/34 – SYNCORA GTY Insured
2/16 at 100.00
N/R
2,020,000
1,090
  
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical Center,
7/15 at 100.00
Aa2
1,099,745
   
Series 2003, 5.000%, 7/01/19 – NPFG Insured
      
1,135
  
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical Center,
No Opt. Call
Aa2
1,316,997
   
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
1,632,120
   
4/01/37 – AGM Insured
      
6,400
  
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization Bonds,
3/21 at 100.00
Aaa
7,072,704
   
Loan Pool Series 2011, 5.125%, 3/15/31
      
3,500
  
Georgia State, General Obligation Bonds, Refunding Series 2009I, 5.000%, 7/01/19
No Opt. Call
AAA
4,155,095
750
  
Georgia State, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15
No Opt. Call
AAA
791,895
2,500
  
Georgia State, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15
No Opt. Call
AAA
2,603,225
2,500
  
Georgia State, General Obligation Bonds, Series 2007E, 5.000%, 8/01/24
8/17 at 100.00
AAA
2,792,000
1,000
  
Georgia State, General Obligation Bonds, Series 2009B, 5.000%, 1/01/26
1/19 at 100.00
AAA
1,157,190
4,900
  
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008,
2/18 at 100.00
AAA
5,446,350
   
5.000%, 2/01/36 (UB)
      
3,500
  
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2013,
2/23 at 100.00
AAA
4,061,260
   
5.000%, 2/01/36
      
1,500
  
Habersham County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series 2014B,
No Opt. Call
Aa3
1,684,350
   
5.000%, 2/01/37
      
   
Henry County Hospital Authority, Georgia, Revenue Certificates, Henry Medical Center, Series 2004:
      
1,560
  
5.000%, 7/01/20 – NPFG Insured
7/16 at 100.00
Aa1
1,581,746
1,500
  
5.000%, 7/01/34 – NPFG Insured
11/14 at 100.00
Aa1
1,517,250
445
  
La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series
7/18 at 100.00
Aa2
496,851
   
2008A, 5.500%, 7/01/38
      
   
Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2014:
      
302
  
5.500%, 7/15/23
7/21 at 100.00
N/R
305,765
601
  
5.500%, 7/15/30
7/21 at 100.00
N/R
607,550
659
  
5.500%, 1/15/36
7/21 at 100.00
N/R
666,781
2,475
  
Paulding County School District, Georgia, General Obligation Bonds, Series 2007, 5.000%, 2/01/33
2/17 at 100.00
AA+
2,680,103
2,260
  
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia
10/21 at 100.00
Aa2
2,474,836
   
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
1,470,445
   
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
2,261,060
   
Refunding Series 2012, 5.000%, 12/01/29 – AGM Insured
      
56,942
  
Total Tax Obligation/General
    
62,055,758
   
Tax Obligation/Limited – 22.2% (14.9% 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
122,074
50
  
5.250%, 12/01/20
No Opt. Call
AA
55,488
80
  
5.250%, 12/01/21 – AGC Insured
12/17 at 100.00
AA
88,406
1,080
  
5.000%, 12/01/23 – AGC Insured
12/17 at 100.00
AA
1,178,917
1,500
  
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed,
1/19 at 100.00
A2
1,770,735
   
7.375%, 1/01/31
      
275
  
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008C. Remarketed,
1/19 at 100.00
A2
326,026
   
7.500%, 1/01/31
      
595
  
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16
7/15 at 100.00
A–
616,212
   
(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–
2,137,585
2,750
  
5.600%, 1/01/30
7/15 at 100.00
A–
2,837,725
725
  
Atlanta, Georgia, Tax Allocation Bonds, Perry Bolton Project Series 2014, 5.000%, 7/01/41
7/23 at 100.00
A–
769,341
3,420
  
Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31
1/16 at 100.00
BBB–
3,464,631
1,725
  
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Performing Arts
No Opt. Call
AAA
2,093,978
   
Center, Refunding Series 2013, 5.000%, 1/01/21
      
405
  
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Refunding Series
No Opt. Call
AA–
483,169
   
2005, 5.500%, 10/01/26 – NPFG Insured
      
   
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds,
      
   
Series 1993:
      
325
  
5.500%, 10/01/18 – NPFG Insured
No Opt. Call
AA–
344,013
5,745
  
5.625%, 10/01/26 – NPFG Insured
10/19 at 100.00
AA–
6,500,065
2,970
  
Georgia Local Governments, Certificates of Participation, Georgia Municipal Association,
No Opt. Call
AA–
3,195,572
   
Series 1998A, 4.750%, 6/01/28 – NPFG Insured
      
750
  
Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project,
11/14 at 100.00
N/R
751,358
   
Series 2002, 5.125%, 12/01/21 – AMBAC Insured
      
   
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
989,138
1,165
  
5.500%, 5/01/38 – AGC Insured
5/19 at 100.00
AA
1,269,547
2,715
  
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds,
No Opt. Call
Aa2
3,057,036
   
Series 1992P, 6.250%, 7/01/20 – AMBAC Insured
      
810
  
Tift County Hospital Authority, Georgia, Revenue Anticipation Certificates Series 2012,
No Opt. Call
Aa2
898,565
   
5.000%, 12/01/38
      
30,165
  
Total Tax Obligation/Limited
    
32,949,581
   
Transportation – 11.2% (7.5% of Total Investments)
      
2,000
  
Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2011B, 5.000%, 1/01/30
1/21 at 100.00
Aa3
2,189,960
2,000
  
Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2012B, 5.000%, 1/01/31
No Opt. Call
Aa3
2,260,960
2,810
  
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012C, 5.000%, 1/01/42 (Alternative
1/22 at 100.00
Aa3
3,013,809
   
Minimum Tax)
      
   
Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Refunding
      
   
Subordinate Lien Series 2014A:
      
2,575
  
5.000%, 1/01/32
1/24 at 100.00
A+
2,952,109
3,750
  
5.000%, 1/01/34
1/24 at 100.00
A+
4,253,775
1,500
  
Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air
6/20 at 100.00
B+
1,877,820
   
Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29
      
14,635
  
Total Transportation
    
16,548,433
   
U.S. Guaranteed – 1.9% (1.3% of Total Investments) (5)
      
   
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 (5)
504,445
1,225
  
5.000%, 11/01/24 (Pre-refunded 11/01/14) – AGM Insured
11/14 at 100.00
AA (5)
1,235,364
1,000
  
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue
12/15 at 100.00
AA– (5)
1,060,790
   
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+ (5)
10,605
   
5.500%, 1/01/20 (Pre-refunded 1/01/17) – FGIC Insured
      
2,735
  
Total U.S. Guaranteed
    
2,811,204
   
Utilities – 9.9% (6.6% of Total Investments)
      
525
  
Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power
No Opt. Call
A
535,479
   
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
AA–
2,157,620
   
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+
3,301,228
   
5.000%, 1/01/43
      
505
  
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z,
No Opt. Call
A+
544,562
   
5.500%, 1/01/20 – FGIC Insured
      
   
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B:
      
1,055
  
5.000%, 3/15/20
No Opt. Call
A
1,195,421
1,300
  
5.000%, 3/15/21
No Opt. Call
A
1,474,915
1,500
  
5.000%, 3/15/22
No Opt. Call
A
1,705,515
   
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A:
      
350
  
5.125%, 9/15/17
No Opt. Call
A
386,407
950
  
5.000%, 3/15/18
No Opt. Call
A+
1,050,824
2,000
  
5.000%, 3/15/22
No Opt. Call
A+
2,331,360
13,185
  
Total Utilities
    
14,683,331
   
Water and Sewer – 23.7% (15.9% of Total Investments)
      
   
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004:
      
260
  
5.750%, 11/01/30 – AGM Insured
No Opt. Call
AA
338,364
700
  
5.000%, 11/01/37 – AGM Insured
11/14 at 100.00
AA
704,424
5,105
  
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2001, 5.000%,
8/18 at 100.00
AA
5,689,982
   
8/01/35 – AGM Insured
      
500
  
Columbus, Georgia, Water and Sewerage Revenue Bonds, Refunding Series 2014A,
5/24 at 100.00
AA
588,680
   
5.000%, 5/01/31
      
   
Coweta County Water and Sewer Authority, Georgia, Revenue Bonds, Series 2007:
      
1,000
  
5.000%, 6/01/32
6/18 at 100.00
Aa2
1,106,120
2,000
  
5.000%, 6/01/37
6/18 at 100.00
Aa2
2,213,760
   
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
AA
7,214,878
300
  
5.000%, 10/01/35 – AGM Insured
No Opt. Call
AA
345,477
5,350
  
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Second Resolution Series 2011A,
10/21 at 100.00
Aa3
6,167,639
   
5.250%, 10/01/41
      
2,225
  
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewage Revenue
6/17 at 100.00
AA–
2,419,754
   
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–
1,144,560
   
5.000%, 1/01/33
      
360
  
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization Bonds,
2/21 at 100.00
Aaa
396,911
   
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
1,180,100
   
12/01/21 – AGM Insured
      
2,000
  
South Fulton Municipal Regional Water and Sewer Authority, Georgia, Revenue Bonds, Refunding
1/24 at 100.00
AA
2,275,560
   
Series 2014, 5.000%, 1/01/30
      
1,000
  
Unified Government of Athens-Clarke County, Georgia, Water and Sewerage Revenue Bonds,
1/19 at 100.00
AA+
1,144,510
   
Series 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
2,166,852
   
Reservoir Project, Series 2008, 5.000%, 2/01/38 – AGM Insured
      
30,775
  
Total Water and Sewer
    
35,097,571
$ 203,142
  
Total Long-Term Investments (cost $210,072,601)
    
221,434,058
   
Floating Rate Obligations – (2.2)%
    
(3,245,000)
   
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (50.6)% (6)
    
(75,000,000)
   
Other Assets Less Liabilities – 3.5%
    
5,159,155
   
Net Assets Applicable to Common Shares – 100%
    
$ 148,348,213
 
 
 
 
 

 
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:
        
Munlicipal Bonds
$ —
$220,219,379
$1,214,679
$221,434,058
 
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 as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of August 31, 2014, the cost of investments was $206,724,964.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of August 31, 2014, were as follows:
  
   
Gross unrealized:
  
Appreciation
$13,202,515
Depreciation
(1,738,009)
Net unrealized appreciation (depreciation) of investments
$11,464,506
 
(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)
  
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the
   
Nuveen funds’ Board of Directors/Trustees. For fair value measurement disclosure purposes, investment
   
classified as Level 3.
(5)
  
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.
(6)
  
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments
   
is 33.9%.
(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:         October 30, 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:         October 30, 2014        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         October 30, 2014