Investment Company Act file number 811-09475
Nuveen Insured Dividend Advantage Municipal Fund
(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: 10/31
Date of reporting period: 7/31/09
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 Insured Dividend Advantage Municipal Fund (NVG) | ||||
July 31, 2009 | ||||
Principal | Optional Call | |||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value |
Municipal Bonds 152.9% (99.8% of Total Investments) | ||||
Alabama 2.0% (1.3% of Total Investments) | ||||
$ 5,310 | Athens, Alabama, Water and Sewerage Revenue Warrants, Series 2002, 5.300%, 5/01/32 | 5/12 at 101.00 | A+ | $ 5,316,691 |
MBIA Insured | ||||
3,045 | Hoover, Alabama, General Obligation Bonds, Series 2003, 5.000%, 3/01/20 MBIA Insured | 3/12 at 101.00 | AA+ | 3,240,032 |
8,355 | Total Alabama | 8,556,723 | ||
Alaska 4.0% (2.6% of Total Investments) | ||||
15,000 | Alaska, International Airport System Revenue Bonds, Series 2002B, 5.250%, 10/01/27 | 10/12 at 100.00 | Aa3 (4) | 16,904,400 |
(Pre-refunded 10/01/12) AMBAC Insured | ||||
Arizona 2.1% (1.4% of Total Investments) | ||||
5,000 | Phoenix, Arizona, Civic Improvement Corporation, Senior Lien Airport Revenue Bonds, Series | 7/12 at 100.00 | AA | 4,501,550 |
2002B, 5.250%, 7/01/32 FGIC Insured (Alternative Minimum Tax) | ||||
6,000 | Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B, 0.000%, 7/01/37 | No Opt. Call | AA | 4,593,840 |
FGIC Insured | ||||
11,000 | Total Arizona | 9,095,390 | ||
California 15.0% (9.8% of Total Investments) | ||||
2,000 | Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series | No Opt. Call | A | 899,040 |
2004A, 0.000%, 10/01/20 AMBAC Insured | ||||
California Educational Facilities Authority, Revenue Bonds, Occidental College, Series 2005A: | ||||
1,485 | 5.000%, 10/01/26 MBIA Insured | 10/15 at 100.00 | Aa3 | 1,503,756 |
1,565 | 5.000%, 10/01/27 MBIA Insured | 10/15 at 100.00 | Aa3 | 1,576,456 |
California, General Obligation Bonds, Series 2000: | ||||
375 | 5.250%, 9/01/17 (Pre-refunded 9/01/10) MBIA Insured | 9/10 at 100.00 | A (4) | 393,289 |
190 | 5.250%, 9/01/17 (Pre-refunded 9/01/10) MBIA Insured | 9/10 at 100.00 | A (4) | 199,584 |
8,890 | California, General Obligation Veterans Welfare Bonds, Series 1997BH, 5.400%, 12/01/14 | 12/09 at 100.00 | AA | 8,914,536 |
(Alternative Minimum Tax) | ||||
3,000 | California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.375%, 12/01/24 MBIA | 12/09 at 100.00 | AA | 2,865,540 |
Insured (Alternative Minimum Tax) | ||||
2,425 | Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, | 9/15 at 100.00 | A | 2,111,108 |
5.000%, 9/01/27 AMBAC Insured | ||||
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement | ||||
Asset-Backed Bonds, Series 2007A-1: | ||||
1,000 | 5.750%, 6/01/47 | 6/17 at 100.00 | BBB | 600,150 |
365 | 5.125%, 6/01/47 | 6/17 at 100.00 | BBB | 197,370 |
18,665 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed | 6/15 at 100.00 | A | 15,546,265 |
Revenue Bonds, Series 2005A, 5.000%, 6/01/35 FGIC Insured | ||||
1,990 | Kern Community College District, California, General Obligation Bonds, Series 2006, 0.000%, | No Opt. Call | AAA | 738,748 |
11/01/25 FSA Insured | ||||
7,935 | Los Angeles, California, Certificates of Participation, Series 2002, 5.300%, 4/01/32 | 4/12 at 100.00 | AA | 7,961,741 |
AMBAC Insured | ||||
2,220 | Northern California Power Agency, Revenue Refunding Bonds, Hydroelectric Project 1, Series | 7/10 at 100.00 | A2 | 2,128,136 |
1998A, 5.200%, 7/01/32 MBIA Insured | ||||
Oceanside Unified School District, San Diego County, California, General Obligation Bonds, | ||||
Series 2008A and 2008B: | ||||
5,905 | 0.000%, 8/01/26 AGC Insured | No Opt. Call | AAA | 2,143,751 |
2,220 | 0.000%, 8/01/28 AGC Insured | No Opt. Call | AAA | 690,753 |
2,600 | Palomar Pomerado Health General Obligation Bonds, California, Election of 2004, Series 2009A, | 8/29 at 100.00 | AAA | 1,497,730 |
0.000%, 8/01/38 AGC Insured | ||||
2,320 | Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2001P, | 8/11 at 100.00 | AAA | 2,387,280 |
5.250%, 8/15/18 FSA Insured | ||||
San Francisco Unified School District, California, General Obligation Bonds, Series 2007A: | ||||
1,000 | 3.000%, 6/15/25 FSA Insured | 6/17 at 100.00 | AAA | 785,150 |
1,180 | 3.000%, 6/15/26 FSA Insured | 6/17 at 100.00 | AAA | 899,349 |
6,720 | San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment | 8/17 at 100.00 | A | 4,782,288 |
Project, Series 2006C, 4.250%, 8/01/30 MBIA Insured | ||||
4,275 | Sequoia Union High School District, San Mateo County, California, General Obligation Bonds, | 7/14 at 102.00 | Aa2 | 3,205,780 |
Series 2006, 3.500%, 7/01/29 FSA Insured | ||||
1,690 | Ventura County Community College District, California, General Obligation Bonds, Series 2005B, | 8/15 at 100.00 | AA | 1,693,465 |
5.000%, 8/01/28 MBIA Insured | ||||
80,015 | Total California | 63,721,265 | ||
Colorado 5.4% (3.5% of Total Investments) | ||||
17,300 | Adams County, Colorado, FHA-Insured Mortgage Revenue Bonds, Platte Valley Medical Center, | 8/15 at 100.00 | A | 17,102,261 |
Series 2005, 5.000%, 8/01/24 MBIA Insured | ||||
750 | Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/32 | 10/16 at 100.00 | BBB | 619,065 |
SYNCORA GTY Insured | ||||
17,000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/25 | No Opt. Call | A | 5,475,190 |
NPFG Insured | ||||
35,050 | Total Colorado | 23,196,516 | ||
District of Columbia 1.5% (1.0% of Total Investments) | ||||
6,805 | District of Columbia, Revenue Bonds, Georgetown University, Series 2007A, 4.500%, 4/01/42 | 4/17 at 100.00 | A | 5,679,045 |
AMBAC Insured | ||||
935 | Washington Convention Center Authority, District of Columbia, Senior Lien Dedicated Tax | 10/16 at 100.00 | AAA | 799,088 |
Revenue Bonds, Series 2007, Residuals 1606, 11.216%, 10/01/30 AMBAC Insured (IF) | ||||
7,740 | Total District of Columbia | 6,478,133 | ||
Florida 11.8% (7.7% of Total Investments) | ||||
Florida Municipal Loan Council, Revenue Bonds, Series 2003B: | ||||
2,305 | 5.250%, 12/01/17 MBIA Insured | 12/13 at 100.00 | A | 2,383,232 |
1,480 | 5.250%, 12/01/18 MBIA Insured | 12/13 at 100.00 | A | 1,515,505 |
11,600 | Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2002B, | 10/12 at 100.00 | AAA | 11,406,512 |
5.125%, 10/01/21 FSA Insured (Alternative Minimum Tax) | ||||
8,155 | Lee County, Florida, Solid Waste System Revenue Refunding Bonds, Series 2001, 5.625%, | 10/11 at 100.00 | A3 | 8,389,701 |
10/01/13 MBIA Insured (Alternative Minimum Tax) | ||||
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2002: | ||||
7,165 | 5.625%, 10/01/15 FGIC Insured (Alternative Minimum Tax) | 10/12 at 100.00 | A | 7,336,244 |
5,600 | 5.750%, 10/01/16 FGIC Insured (Alternative Minimum Tax) | 10/12 at 100.00 | A | 5,709,648 |
10,000 | 5.125%, 10/01/21 FGIC Insured (Alternative Minimum Tax) | 10/12 at 100.00 | A | 9,546,000 |
2,000 | 5.250%, 10/01/22 FGIC Insured (Alternative Minimum Tax) | 10/12 at 100.00 | A | 1,919,960 |
1,000 | South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System | 8/17 at 100.00 | AA | 897,710 |
Obligation Group, Series 2007, 5.000%, 8/15/42 (UB) | ||||
1,000 | Tallahassee, Florida, Energy System Revenue Bonds, Series 2005, 5.000%, 10/01/28 MBIA Insured | 10/15 at 100.00 | AA | 998,710 |
50,305 | Total Florida | 50,103,222 | ||
Georgia 2.3% (1.5% of Total Investments) | ||||
6,925 | Atlanta and Fulton County Recreation Authority, Georgia, Guaranteed Revenue Bonds, Park | 12/15 at 100.00 | A1 | 7,014,540 |
Improvement, Series 2005A, 5.000%, 12/01/30 MBIA Insured | ||||
1,000 | Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004, 5.000%, 11/01/22 | 11/14 at 100.00 | AAA | 1,014,210 |
FSA Insured | ||||
1,695 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2002B-2, 5.500%, | 12/11 at 100.00 | AAA | 1,686,135 |
6/01/32 (Alternative Minimum Tax) | ||||
9,620 | Total Georgia | 9,714,885 | ||
Idaho 1.0% (0.7% of Total Investments) | ||||
Idaho Housing and Finance Association, Grant and Revenue Anticipation Bonds, Federal Highway | ||||
Trust Funds, Series 2006: | ||||
3,000 | 5.000%, 7/15/23 MBIA Insured | 7/16 at 100.00 | Aa3 | 3,125,760 |
1,130 | 5.000%, 7/15/24 MBIA Insured | 7/16 at 100.00 | Aa3 | 1,173,584 |
4,130 | Total Idaho | 4,299,344 | ||
Illinois 11.4% (7.4% of Total Investments) | ||||
10,000 | Bolingbrook, Illinois, General Obligation Bonds, Series 2002A, 5.375%, 1/01/38 (Pre-refunded | 1/12 at 100.00 | A2 (4) | 11,058,400 |
1/01/12) FGIC Insured | ||||
1,305 | Chicago, Illinois, General Obligation Bonds, Series 2001A, 5.500%, 1/01/38 MBIA Insured | 1/11 at 101.00 | AA | 1,315,192 |
Chicago, Illinois, General Obligation Bonds, Series 2001A: | ||||
50 | 5.500%, 1/01/38 (Pre-refunded 1/01/11) MBIA Insured | 1/11 at 101.00 | AA (4) | 53,898 |
3,645 | 5.500%, 1/01/38 (Pre-refunded 1/01/11) MBIA Insured | 1/11 at 101.00 | AA (4) | 3,929,164 |
Chicago, Illinois, Second Lien Passenger Facility Charge Revenue Bonds, OHare International | ||||
Airport, Series 2001C: | ||||
4,250 | 5.500%, 1/01/16 AMBAC Insured (Alternative Minimum Tax) | 1/11 at 101.00 | A1 | 4,298,578 |
4,485 | 5.500%, 1/01/17 AMBAC Insured (Alternative Minimum Tax) | 1/11 at 101.00 | A1 | 4,515,991 |
4,730 | 5.500%, 1/01/18 AMBAC Insured (Alternative Minimum Tax) | 1/11 at 101.00 | A1 | 4,741,399 |
2,930 | 5.500%, 1/01/19 AMBAC Insured (Alternative Minimum Tax) | 1/11 at 101.00 | A1 | 2,933,780 |
3,600 | Chicago, Illinois, Third Lien General Airport Revenue Bonds, OHare International Airport, | 1/16 at 100.00 | A1 | 3,666,528 |
Series 2005A, 5.250%, 1/01/24 MBIA Insured | ||||
3,000 | Chicago, Illinois, Third Lien General Airport Revenue Refunding Bonds, OHare International | 1/12 at 100.00 | A1 | 3,037,560 |
Airport, Series 2002A, 5.750%, 1/01/17 MBIA Insured (Alternative Minimum Tax) | ||||
4,000 | Cicero, Cook County, Illinois, General Obligation Corporate Purpose Bonds, Series 2002, | 12/12 at 101.00 | A | 3,726,200 |
5.000%, 12/01/21 MBIA Insured | ||||
480 | DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, | 10/13 at 100.00 | Aa3 | 522,379 |
Series 2003C, 5.250%, 10/01/22 FSA Insured | ||||
DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, | ||||
Series 2003C: | ||||
770 | 5.250%, 10/01/22 (Pre-refunded 10/01/13) FSA Insured | 10/13 at 100.00 | Aa3 (4) | 885,354 |
250 | 5.250%, 10/01/22 (Pre-refunded 10/01/13) FSA Insured | 10/13 at 100.00 | Aa3 (4) | 287,453 |
3,500 | Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Series 2007A, 5.000%, | 2/17 at 100.00 | A+ | 3,344,670 |
2/01/35 FGIC Insured | ||||
46,995 | Total Illinois | 48,316,546 | ||
Indiana 17.7% (11.5% of Total Investments) | ||||
3,380 | Evansville, Indiana, Sewerage Works Revenue Refunding Bonds, Series 2003A, 5.000%, 7/01/20 | 7/13 at 100.00 | N/R | 3,396,562 |
AMBAC Insured | ||||
Indiana Bond Bank, Special Program Bonds, Hendricks County Redevelopment District, | ||||
Series 2002D: | ||||
2,500 | 5.375%, 4/01/23 (Pre-refunded 4/01/12) AMBAC Insured | 4/12 at 100.00 | AA (4) | 2,787,425 |
7,075 | 5.250%, 4/01/26 (Pre-refunded 4/01/12) AMBAC Insured | 4/12 at 100.00 | AA (4) | 7,865,207 |
7,000 | 5.250%, 4/01/30 (Pre-refunded 4/01/12) AMBAC Insured | 4/12 at 100.00 | AA (4) | 7,781,830 |
10,000 | Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Marion General Hospital, | 7/12 at 100.00 | A+ | 8,691,500 |
Series 2002, 5.250%, 7/01/32 AMBAC Insured | ||||
3,200 | Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 | 1/17 at 100.00 | A+ | 3,042,464 |
MBIA Insured | ||||
4,000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A, | 1/19 at 100.00 | AAA | 3,849,760 |
5.500%, 1/01/38 (WI/DD, Settling 8/06/09) AGC Insured | ||||
25,000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2002A, | 7/12 at 100.00 | AAA | 28,050,247 |
5.250%, 7/01/33 (Pre-refunded 7/01/12) MBIA Insured | ||||
Northern Wells Community School Building Corporation, Wells County, Indiana, First Mortgage | ||||
Bonds, Series 2001: | ||||
420 | 5.250%, 1/15/19 (Pre-refunded 7/15/12) FGIC Insured | 7/12 at 100.00 | AA+ (4) | 472,315 |
430 | 5.250%, 7/15/19 (Pre-refunded 7/15/12) FGIC Insured | 7/12 at 100.00 | AA+ (4) | 483,561 |
1,675 | 5.400%, 7/15/23 (Pre-refunded 7/15/12) FGIC Insured | 7/12 at 100.00 | AA+ (4) | 1,890,941 |
6,960 | Valparaiso Middle School Building Corporation, Indiana, First Mortgage Refunding Bonds, Series | 1/13 at 100.00 | AA+ | 7,136,297 |
2002, 5.000%, 7/15/24 MBIA Insured | ||||
71,640 | Total Indiana | 75,448,109 | ||
Kentucky 0.6% (0.4% of Total Investments) | ||||
2,415 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 93, Refunding Series | 2/19 at 100.00 | AAA | 2,709,050 |
2009, 5.250%, 2/01/20 AGC Insured | ||||
Louisiana 3.0% (1.9% of Total Investments) | ||||
1,325 | Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series | 7/14 at 100.00 | A | 1,344,411 |
2004, 5.250%, 7/01/24 MBIA Insured | ||||
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006: | ||||
770 | 4.750%, 5/01/39 FSA Insured (UB) | 5/16 at 100.00 | AAA | 753,137 |
8,270 | 4.500%, 5/01/41 FGIC Insured (UB) | 5/16 at 100.00 | AA | 7,460,781 |
3 | Louisiana State, Gasoline Tax Revenue Bonds, Series 2006, Residuals 660-3, 15.862%, 5/01/41 | 5/16 at 100.00 | AA | 2,032 |
FGIC Insured (IF) | ||||
3,085 | New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2002, 5.125%, 9/01/21 | 9/12 at 100.00 | A | 3,087,283 |
MBIA Insured | ||||
13,453 | Total Louisiana | 12,647,644 | ||
Massachusetts 0.6% (0.4% of Total Investments) | ||||
2,775 | Massachusetts Water Resources Authority, General Revenue Bonds, 4.500%, 8/01/46 | 2/17 at 100.00 | AAA | 2,437,643 |
FSA Insured (UB) | ||||
Michigan 0.3% (0.2% of Total Investments) | ||||
1,500 | Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series | 12/16 at 100.00 | Aa2 | 1,449,000 |
2006A, 5.000%, 12/01/31 (UB) | ||||
Minnesota 0.5% (0.3% of Total Investments) | ||||
2,000 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series | No Opt. Call | AAA | 2,189,140 |
2009A, 5.000%, 1/01/15 AGC Insured | ||||
Missouri 0.4% (0.3% of Total Investments) | ||||
1,600 | St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series | 3/14 at 100.00 | AAA | 1,784,608 |
2004, 5.250%, 3/01/19 FSA Insured | ||||
Nebraska 2.0% (1.3% of Total Investments) | ||||
6,360 | Lincoln, Nebraska, Electric System Revenue Bonds, Series 2005, 5.000%, 9/01/32 | 9/15 at 100.00 | AA | 6,396,188 |
Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Series 2003A: | ||||
1,000 | 5.250%, 4/01/20 FSA Insured | 4/13 at 100.00 | AAA | 1,071,780 |
1,000 | 5.250%, 4/01/21 FSA Insured | 4/13 at 100.00 | AAA | 1,041,730 |
8,360 | Total Nebraska | 8,509,698 | ||
New Jersey 0.5% (0.4% of Total Investments) | ||||
2,150 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006A, | No Opt. Call | AA | 2,324,838 |
5.250%, 12/15/20 | ||||
New York 6.1% (3.9% of Total Investments) | ||||
1,120 | Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore | 2/15 at 100.00 | A | 1,131,794 |
Hospital, Series 2004, 5.000%, 8/01/23 FGIC Insured | ||||
3,660 | Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities | 2/15 at 100.00 | AA | 3,730,784 |
Improvements, Series 2005B, 5.000%, 2/15/23 AMBAC Insured | ||||
3,335 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender | 2/19 at 100.00 | AAA | 3,323,161 |
Option Bond Trust 3518, 13.206%, 2/15/39 (IF) | ||||
3,130 | Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%, | 2/17 at 100.00 | A | 2,498,867 |
2/15/47 MBIA Insured | ||||
2,400 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2006F, 4.250%, | 11/16 at 100.00 | A | 1,962,384 |
5/01/33 MBIA Insured | ||||
1,500 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005B, | 11/15 at 100.00 | A | 1,482,465 |
5.000%, 11/15/30 AMBAC Insured | ||||
10,000 | Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, | 11/12 at 100.00 | AAA | 10,041,400 |
Series 2002A, 5.000%, 11/15/30 FSA Insured | ||||
1,435 | New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project | 3/19 at 100.00 | AAA | 1,618,106 |
Pilot, Series 2009A, 7.000%, 3/01/49 AGC Insured | ||||
26,580 | Total New York | 25,788,961 | ||
North Carolina 0.6% (0.4% of Total Investments) | ||||
2,125 | North Carolina Medical Care Commission, FHA-Insured Mortgage Revenue Bonds, Betsy Johnson | 10/13 at 100.00 | AAA | 2,152,880 |
Regional Hospital Project, Series 2003, 5.375%, 10/01/24 FSA Insured | ||||
540 | Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A, 6.000%, 6/01/34 | 6/19 at 100.00 | AAA | 560,455 |
AGC Insured | ||||
2,665 | Total North Carolina | 2,713,335 | ||
Ohio 0.4% (0.3% of Total Investments) | ||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue | ||||
Bonds, Senior Lien, Series 2007A-2: | ||||
65 | 5.125%, 6/01/24 | 6/17 at 100.00 | BBB | 53,544 |
710 | 5.875%, 6/01/30 | 6/17 at 100.00 | BBB | 500,209 |
685 | 5.750%, 6/01/34 | 6/17 at 100.00 | BBB | 442,859 |
1,570 | 5.875%, 6/01/47 | 6/17 at 100.00 | BBB | 901,384 |
3,030 | Total Ohio | 1,897,996 | ||
Oklahoma 0.4% (0.3% of Total Investments) | ||||
2,000 | Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007, | 2/17 at 100.00 | A | 1,763,780 |
5.000%, 2/15/37 | ||||
Oregon 2.3% (1.5% of Total Investments) | ||||
3,000 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2009A., | 5/19 at 100.00 | AAA | 3,076,860 |
5.000%, 11/15/33 | ||||
Oregon, General Obligation Veterans Welfare Bonds, Series 82: | ||||
4,530 | 5.375%, 12/01/31 | 12/11 at 100.00 | AA | 4,538,969 |
2,115 | 5.500%, 12/01/42 | 12/11 at 100.00 | AA | 2,124,919 |
9,645 | Total Oregon | 9,740,748 | ||
Pennsylvania 4.5% (2.9% of Total Investments) | ||||
4,500 | Allegheny County, Pennsylvania, Airport Revenue Refunding Bonds, Pittsburgh International | No Opt. Call | A | 4,725,540 |
Airport, Series 1997A, 5.750%, 1/01/13 MBIA Insured (Alternative Minimum Tax) | ||||
4,130 | Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of | 12/16 at 100.00 | AAA | 3,720,428 |
Philadelphia, Series 2006B, 4.500%, 6/01/32 FSA Insured (UB) | ||||
1,050 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A, 5.000%, 12/01/26 | 6/16 at 100.00 | Aa3 | 1,075,557 |
AMBAC Insured | ||||
6,000 | Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%, | 6/26 at 100.00 | AAA | 4,086,480 |
6/01/33 FSA Insured | ||||
2,000 | Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2003B, 5.250%, | 11/13 at 100.00 | AAA | 2,150,540 |
11/15/18 FSA Insured | ||||
2,000 | Reading School District, Berks County, Pennsylvania, General Obligation Bonds, Series 2005, | 1/16 at 100.00 | AAA | 2,173,900 |
5.000%, 1/15/19 FSA Insured (UB) | ||||
1,000 | State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School | 6/13 at 100.00 | AAA | 1,138,510 |
District, Series 2003, 5.000%, 6/01/23 (Pre-refunded 6/01/13) FSA Insured | ||||
20,680 | Total Pennsylvania | 19,070,955 | ||
Puerto Rico 0.4% (0.3% of Total Investments) | ||||
1,225 | Puerto Rico Municipal Finance Agency, Series 2005C, 5.250%, 8/01/21 CIFG Insured | No Opt. Call | BBB | 1,191,239 |
5,000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, | No Opt. Call | AA | 601,050 |
8/01/42 FGIC Insured | ||||
6,225 | Total Puerto Rico | 1,792,289 | ||
South Carolina 1.5% (1.0% of Total Investments) | ||||
1,950 | Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series | 12/16 at 100.00 | AAA | 1,994,304 |
2006, 5.000%, 12/01/28 FSA Insured | ||||
Greenville, South Carolina, Tax Increment Revenue Improvement Bonds, Series 2003: | ||||
1,000 | 5.500%, 4/01/17 MBIA Insured | 4/13 at 100.00 | A | 1,106,410 |
2,300 | 5.000%, 4/01/21 MBIA Insured | 4/13 at 100.00 | A | 2,365,734 |
1,000 | Scago Educational Facilities Corporation, South Carolina, Installment Purchase Revenue Bonds, | 10/15 at 100.00 | AAA | 1,059,890 |
Spartanburg County School District 5, Series 2005, 5.000%, 4/01/21 FSA Insured | ||||
6,250 | Total South Carolina | 6,526,338 | ||
Tennessee 10.5% (6.9% of Total Investments) | ||||
Memphis, Tennessee, Sanitary Sewerage System Revenue Bonds, Series 2004: | ||||
1,495 | 5.000%, 10/01/19 FSA Insured | 10/14 at 100.00 | AAA | 1,618,442 |
1,455 | 5.000%, 10/01/20 FSA Insured | 10/14 at 100.00 | AAA | 1,558,625 |
1,955 | 5.000%, 10/01/21 FSA Insured | 10/14 at 100.00 | AAA | 2,076,836 |
10,000 | Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Series 2002A, | 11/12 at 100.00 | AA (4) | 11,314,000 |
5.125%, 11/01/28 (Pre-refunded 11/01/12) AMBAC Insured | ||||
10,000 | Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Series 2002B, | 11/12 at 100.00 | AA (4) | 11,314,000 |
5.125%, 11/01/29 (Pre-refunded 11/01/12) AMBAC Insured | ||||
15,195 | Tennessee State School Bond Authority, Higher Educational Facilities Second Program Bonds, | 5/12 at 100.00 | AAA | 16,963,242 |
Series 2002A, 5.250%, 5/01/32 (Pre-refunded 5/01/12) FSA Insured | ||||
40,100 | Total Tennessee | 44,845,145 | ||
Texas 24.0% (15.6% of Total Investments) | ||||
3,500 | Dallas-Ft. Worth International Airport, Texas, Joint Revenue Refunding and Improvement Bonds, | 11/11 at 100.00 | A+ | 3,690,505 |
Series 2001A, 5.750%, 11/01/13 FGIC Insured (Alternative Minimum Tax) | ||||
10,000 | Gainesville Hospital District, Texas, Limited Tax General Obligation Bonds, Series 2002, | 8/11 at 100.00 | A3 (4) | 10,894,800 |
5.375%, 8/15/32 (Pre-refunded 8/15/11) MBIA Insured | ||||
1,210 | Galveston, Texas, General Obligation Bonds, Series 2001, 5.250%, 5/01/21 AMBAC Insured | 5/11 at 100.00 | A | 1,252,035 |
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, | ||||
TECO Project, Series 2003: | ||||
2,240 | 5.000%, 11/15/16 MBIA Insured | 11/13 at 100.00 | AA | 2,353,926 |
2,355 | 5.000%, 11/15/17 MBIA Insured | 11/13 at 100.00 | AA | 2,446,350 |
4,080 | Harris County, Texas, General Obligtion Toll Road Revenue Bonds, Series 2009, Trust 3418, | No Opt. Call | AAA | 5,129,784 |
13.271%, 8/15/32 FSA Insured (IF) | ||||
13,000 | Houston Area Water Corporation, Texas, Contract Revenue Bonds, Northeast Water Purification | 3/12 at 100.00 | N/R (4) | 14,295,710 |
Plant, Series 2002, 5.125%, 3/01/32 (Pre-refunded 3/01/12) FGIC Insured | ||||
1,000 | Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%, | 5/14 at 100.00 | AA | 1,036,710 |
5/15/24 FGIC Insured | ||||
4,345 | San Antonio, Texas, Water System Senior Lien Revenue Refunding Bonds, Series 2002, 5.500%, | 5/12 at 100.00 | AAA | 4,746,087 |
5/15/17 FSA Insured | ||||
5,475 | Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Series | 7/11 at 100.00 | AAA | 5,070,890 |
2001A, 5.350%, 7/01/33 (Alternative Minimum Tax) | ||||
8,270 | Texas Department of Housing and Community Affairs, Single Family Mortgage Bonds, Series 2002B, | 3/12 at 100.00 | AAA | 8,247,754 |
5.550%, 9/01/33 MBIA Insured (Alternative Minimum Tax) | ||||
Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, | ||||
Series 2002: | ||||
3,520 | 5.125%, 11/01/20 MBIA Insured | 5/12 at 100.00 | Baa1 | 3,129,843 |
3,520 | 5.125%, 11/01/21 MBIA Insured | 5/12 at 100.00 | Baa1 | 3,096,157 |
Texas Student Housing Authority, Revenue Bonds, Austin Project, Senior Series 2001A: | ||||
9,400 | 5.375%, 1/01/23 MBIA Insured | 1/12 at 102.00 | Baa1 | 6,476,130 |
11,665 | 5.500%, 1/01/33 MBIA Insured | 1/12 at 102.00 | Baa1 | 7,097,453 |
5,000 | Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 1999B, | 1/10 at 100.00 | AAA | 5,084,000 |
5.250%, 7/15/17 | ||||
9,145 | Texas, General Obligation Bonds, Veterans Housing Assistance Program Fund II, Series 2002A, | 6/12 at 100.00 | Aa1 | 9,173,624 |
5.250%, 12/01/22 (Alternative Minimum Tax) (UB) | ||||
Williamson County, Texas, General Obligation Bonds, Series 2002: | ||||
3,000 | 5.250%, 2/15/22 (Pre-refunded 2/15/12) FSA Insured | 2/12 at 100.00 | AAA | 3,324,420 |
5,000 | 5.250%, 2/15/25 (Pre-refunded 2/15/12) FSA Insured | 2/12 at 100.00 | AAA | 5,540,700 |
105,725 | Total Texas | 102,086,878 | ||
Utah 1.2% (0.8% of Total Investments) | ||||
4,865 | Utah Transit Authority, Sales Tax Revenue Bonds, Series 2008, Trust 1193, 12.970%, 6/15/36 | 6/18 at 100.00 | AAA | 5,062,568 |
FSA Insured (IF) | ||||
Washington 15.8% (10.3% of Total Investments) | ||||
5,385 | Energy Northwest, Washington Public Power, Nine Canyon Wind Project Revenue Bonds, Series | 7/16 at 100.00 | A | 4,806,543 |
2006A, 4.500%, 7/01/30 AMBAC Insured | ||||
6,600 | Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station | 7/12 at 100.00 | AAA | 7,107,474 |
Nuclear Project 2, Series 2002B, 5.350%, 7/01/18 FSA Insured | ||||
7,675 | Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 1, Series | 7/12 at 100.00 | Aaa | 8,410,495 |
2002A, 5.500%, 7/01/15 MBIA Insured | ||||
2,500 | Port of Seattle, Washington, Revenue Refunding Bonds, Series 2002D, 5.750%, 11/01/15 FGIC | 11/12 at 100.00 | Aa2 | 2,606,900 |
Insured (Alternative Minimum Tax) | ||||
2,200 | Snohomish County School District 2, Everett, Washington, General Obligation Bonds, Series | 12/13 at 100.00 | AAA | 2,454,078 |
2003B, 5.000%, 6/01/17 FSA Insured | ||||
3,255 | Thurston and Pierce Counties School District, Washington, General Obligation Bonds, Yelm | 6/13 at 100.00 | Aa1 | 3,594,464 |
Community Schools, Series 2003, 5.250%, 12/01/16 FSA Insured | ||||
10,000 | University of Washington, General Revenue Bonds, Series 2007, 5.000%, 6/01/37 | 6/17 at 100.00 | AA+ | 9,954,600 |
AMBAC Insured (UB) | ||||
Washington State Economic Development Finance Authority, Wastewater Revenue Bonds, LOTT | ||||
Project, Series 2002: | ||||
2,000 | 5.500%, 6/01/17 AMBAC Insured | 6/12 at 100.00 | A2 | 2,187,080 |
4,325 | 5.125%, 6/01/22 AMBAC Insured | 6/12 at 100.00 | A2 | 4,343,338 |
15,000 | Washington State Healthcare Facilities Authority, Revenue Bonds, Harrison Memorial Hospital, | 8/13 at 102.00 | N/R | 12,795,300 |
Series 1998, 5.000%, 8/15/28 AMBAC Insured | ||||
3,335 | Washington State, General Obligation Bonds, Series 2009, Trust 1212, 12.408%, 7/01/31 FSA | 7/16 at 100.00 | AAA | 3,569,484 |
Insured (IF) | ||||
5,170 | Whitman County School District 267, Pullman, Washington, General Obligation Bonds, Series | 6/12 at 100.00 | Aa1 | 5,479,580 |
2002, 5.000%, 12/01/20 FSA Insured | ||||
67,445 | Total Washington | 67,309,336 | ||
Wisconsin 3.1% (2.0% of Total Investments) | ||||
11,950 | Wisconsin, Transportation Revenue Refunding Bonds, Series 2002-1, 5.125%, 7/01/18 | 7/12 at 100.00 | AA+ (4) | 13,376,234 |
(Pre-refunded 7/01/12) AMBAC Insured | ||||
$ 681,263 | Total Municipal Bonds (cost $644,772,820) | 651,860,717 | ||
Shares | Description (1) | Value | ||
Investment Companies 0.4% (0.2% of Total Investments) | ||||
21,650 | BlackRock MuniHoldings Fund Inc. | 293,791 | ||
13,600 | BlackRock MuniEnhanced Fund Inc. | 126,480 | ||
7,920 | Dreyfus Strategic Municipal Fund | 58,133 | ||
7,600 | Morgan Stanley Dean Witter Insured Municipal Income Trust | 99,788 | ||
9,668 | Morgan Stanley Quality Municipal Income Trust | 107,895 | ||
26,280 | PIMCO Municipal Income Fund II | 265,954 | ||
9,500 | Van Kampen Advantage Municipal Income Fund II | 101,175 | ||
28,680 | Van Kampen Investment Grade Municipal Trust | 362,228 | ||
6,240 | Van Kampen Municipal Trust | 80,746 | ||
Total Investment Companies (cost $1,690,861) | 1,496,190 | |||
Total Investments (cost $646,463,681) 153.3% | 653,356,907 | |||
Floating Rate Obligations (6.7)% | (28,413,334) | |||
Other Assets Less Liabilities 0.9% | 3,916,082 | |||
Auction Rate Preferred Shares, at Liquidation Value (47.5)% (5) | (202,650,000) | |||
Net Assets Applicable to Common Shares 100% | $ 426,209,655 |
Fair Value Measurements
During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No. 157) Fair Value Measurements. SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosure about fair value measurements. In determining the value of the Funds investments various inputs are used. These inputs are summarized in the three broad levels listed below:
Level 1 Quoted prices in active markets for identical securities.
Level 2 Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 Significant unobservable inputs (including managements assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Funds fair value measurements as of July 31, 2009:
Level 1 | Level 2 | Level 3 | Total | |
Investments: | ||||
Municipal Bonds | $ | $651,860,717 | $ | $651,860,717 |
Investment Companies | 1,496,190 | | | 1,496,190 |
Total | $1,496,190 | $651,860,717 | $ | $653,356,907 |
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 transactions subject to Statement of Financial Accounting Standards No. 140 (SFAS No. 140), 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.
At July 31, 2009, the cost of investments was $617,767,518.
Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2009, were as follows:
Gross unrealized: | |
Appreciation | $ 32,050,940 |
Depreciation | (24,876,535) |
Net unrealized appreciation (depreciation) of investments | $ 7,174,405 |
At least 80% of the Funds net assets (including net assets attributable to Preferred shares) are invested in | |
municipal securities that guarantee the timely payment of principal and interest. | |
(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 higher of Standard & Poors Group (Standard & Poors) or Moodys Investor Service, Inc. |
(Moodys) rating. Ratings below BBB by Standard & Poors or Baa by Moodys are considered to be below | |
investment grade. | |
The Portfolio of Investments may reflect the ratings on certain bonds whose insurer has experienced | |
downgrades as of the end of the reporting period. Subsequent to the reporting period, and during the | |
period this Portfolio of Investments was prepared, there may have been reductions to the ratings of certain | |
bonds resulting from changes to the ratings of the underlying insurers both during the period and after | |
period end. Such reductions would likely reduce the effective rating of many of the bonds insured by that | |
insurer or insurers presented at period end. | |
(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. Such investments are normally considered to be | |
equivalent to AAA rated securities. | |
(5) | Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments is 31.0%. |
N/R | Not rated. |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
(IF) | Inverse floating rate investment. |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the |
provisions of SFAS No. 140. |
Item 2. Controls and Procedures.
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.
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 Insured Dividend Advantage Municipal Fund
By (Signature and Title)
/s/ Kevin J.
McCarthy
Kevin
J.
McCarthy
Vice President and Secretary
Date September 29, 2009
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 September 29, 2009
By (Signature and Title)
/s/ Stephen D.
Foy
Stephen
D.
Foy
Vice President and Controller (principal financial officer)
Date September 29, 2009