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:         8/31/12         
 
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, 2012 
      
Principal 
    
Optional Call 
    
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Consumer Staples – 4.0% (2.7% of Total Investments) 
      
$ 45,000 
  
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 
5/15 at 11.19 
BB– 
$ 3,242,700 
   
0.000%, 5/15/50 
      
3,000 
  
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, 
11/12 at 100.00 
BBB 
2,999,880 
   
Series 2002, 5.500%, 5/15/39 
      
48,000 
  
Total Consumer Staples 
    
6,242,580 
   
Education and Civic Organizations – 15.2% (10.3% of Total Investments) 
      
1,750 
  
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus 
6/19 at 100.00 
Aa2 
1,935,203 
   
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 
5,281,599 
   
Project, Series 2007, 5.000%, 7/01/39 
      
1,550 
  
Bulloch County Development Authority, Georgia, Student Housing and Athletic Facility Lease 
8/14 at 100.00 
A1 
1,627,144 
   
Revenue Bonds, Georgia Southern University, Series 2004, 5.250%, 8/01/21 – SYNCORA GTY Insured 
      
700 
  
Carrollton Payroll Development Authority, Georgia, Student Housing Revenue Bonds, University 
9/14 at 100.00 
A1 
735,728 
   
of West Georgia, Series 2004A, 5.000%, 9/01/21 – SYNCORA GTY Insured 
      
625 
  
Fulton County Development Authority Georgia Tech Foundation, 5.000%, 11/01/31 
5/22 at 100.00 
AA+ 
742,175 
2,000 
  
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech – Klaus Parking and 
11/13 at 100.00 
Aa3 
2,088,780 
   
Family Housing, Series 2003, 5.000%, 11/01/23 – NPFG Insured 
      
1,535 
  
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Molecular Science 
5/14 at 100.00 
Aa3 
1,651,092 
   
Building, Series 2004, 5.250%, 5/01/15 – NPFG Insured 
      
1,050 
  
Fulton County Development Authority, Georgia, Revenue Bonds, TUFF Morehouse Project, Series 
2/13 at 100.00 
A2 
1,051,334 
   
2002A, 5.000%, 2/01/34 – AMBAC Insured 
      
150 
  
Georgia Higher Education Facilities Authority, Revenue Bonds, USG Real Estate Foundation I LLC 
6/18 at 100.00 
A2 
169,698 
   
Project, Series 2008, 6.000%, 6/15/28 
      
   
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series 
      
   
2009B, Trust 3404: 
      
730 
  
17.087%, 3/01/17 (IF) 
No Opt. Call 
AA+ 
1,177,534 
1,150 
  
17.115%, 3/01/17 (IF) 
No Opt. Call 
AA+ 
1,822,934 
1,325 
  
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University 
10/22 at 100.00 
Baa2 
1,471,744 
   
Project, Refunding Series 2012C, 5.250%, 10/01/30 
      
1,180 
  
Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State 
7/15 at 100.00 
A2 
1,243,437 
   
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 
1,567,614 
   
2005A, 5.000%, 12/01/34 – SYNCORA GTY Insured 
      
   
Savannah Economic Development Authority, Georgia, Revenue Bonds, GTREP Project, Series 2002: 
      
750 
  
5.000%, 7/01/19 – NPFG Insured 
1/13 at 100.00 
Aa3 
752,753 
500 
  
5.000%, 7/01/22 – NPFG Insured 
1/13 at 100.00 
Aa3 
501,790 
21,485 
  
Total Education and Civic Organizations 
    
23,820,559 
   
Health Care – 14.8% (10.0% of Total Investments) 
      
   
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center, 
      
   
Series 1998: 
      
205 
  
5.250%, 12/01/22 
12/12 at 100.00 
B+ 
195,144 
745 
  
5.375%, 12/01/28 
12/12 at 100.00 
B+ 
678,285 
   
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 
BBB– 
290,196 
2,400 
  
5.250%, 12/01/22 
12/14 at 100.00 
BBB– 
2,445,648 
255 
  
5.000%, 12/01/26 
12/14 at 100.00 
BBB– 
259,266 
715 
  
Coweta County Development Authority, Georgia, Revenue Bonds, Piedmont Healthcare, Inc. 
6/20 at 100.00 
AA– 
772,586 
   
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 
2,780,025 
   
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 
  
5.125%, 2/15/40 
2/20 at 100.00 
AA– 
1,082,940 
3,945 
  
5.250%, 2/15/45 
2/41 at 100.00 
AA– 
4,325,376 
2,540 
  
Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project, Series 
10/17 at 100.00 
A+ 
2,747,112 
   
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 
463,713 
975 
  
5.000%, 8/01/35 
8/19 at 100.00 
AA 
1,052,006 
3,500 
  
Savannah Hospital Authority, Georgia, Revenue Bonds, St. Joseph’s/Candler Health System, 
1/14 at 100.00 
A3 
3,635,870 
   
Series 2003, 5.250%, 7/01/23 – RAAI Insured 
      
2,300 
  
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/17 at 100.00 
A+ 
2,418,266 
   
Medical Center, Series 2007, 5.000%, 10/01/33 
      
21,790 
  
Total Health Care 
    
23,146,433 
   
Housing/Multifamily – 4.0% (2.7% of Total Investments) 
      
1,600 
  
Cobb County Development Authority, Georgia, Revenue Bonds, KSU University II Real Estate 
7/21 at 100.00 
AA– 
1,782,272 
   
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 
1,414,449 
   
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) 
11/12 at 102.00 
AA+ 
511,920 
980 
  
5.200%, 11/20/27 (Alternative Minimum Tax) 
11/12 at 102.00 
AA+ 
1,002,520 
1,465 
  
5.250%, 11/20/32 (Alternative Minimum Tax) 
11/12 at 102.00 
AA+ 
1,497,963 
5,920 
  
Total Housing/Multifamily 
    
6,209,124 
   
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 
1,027,820 
170 
  
4.550%, 12/01/31 (Alternative Minimum Tax) 
12/15 at 100.00 
AAA 
172,632 
1,170 
  
Total Housing/Single Family 
    
1,200,452 
   
Industrials – 3.4% (2.3% of Total Investments) 
      
1,000 
  
Cartersville Development Authority, Georgia, Sewage and Solid Waste Disposal Facilities 
9/12 at 100.00 
A 
1,010,750 
   
Refunding and Revenue Bonds, Anheuser Busch Project, Senior Lien Series 2007, 5.500%, 
      
   
3/01/44 (Alternative Minimum Tax) 
      
2,190 
  
Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste 
4/16 at 101.00 
BBB 
2,315,969 
   
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 
2,043,340 
   
Maxon Atlantic Station LLC, Series 2005A, 5.125%, 3/01/26 (Mandatory put 3/01/15) 
      
   
(Alternative Minimum Tax) 
      
5,190 
  
Total Industrials 
    
5,370,059 
   
Materials – 2.1% (1.4% of Total Investments) 
      
2,000 
  
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds, 
2/13 at 100.00 
BBB 
2,017,200 
   
International Paper Company, Series 2001A, 6.250%, 2/01/25 (Alternative Minimum Tax) 
      
20 
  
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds, 
11/13 at 100.00 
BBB 
20,891 
   
International Paper Company, Series 2003A, 5.750%, 11/01/27 (Alternative Minimum Tax) 
      
850 
  
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Refunding 
2/13 at 100.00 
BBB 
861,373 
   
Bonds, International Paper Company, Series 2002A, 6.000%, 2/01/25 (Alternative Minimum Tax) 
      
370 
  
Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union Camp 
No Opt. Call 
Baa3 
417,393 
   
Corporation, Series 1995, 6.150%, 3/01/17 
      
3,240 
  
Total Materials 
    
3,316,857 
   
Tax Obligation/General – 30.5% (20.6% of Total Investments) 
      
2,000 
  
Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement 
1/22 at 100.00 
AA 
2,294,500 
   
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 Revenue 
7/17 at 100.00 
AA+ 
1,594,035 
   
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 
1,080,870 
   
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 
685,218 
   
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+ 
3,729,408 
1,090 
  
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical 
7/13 at 101.00 
Aa2 
1,128,183 
   
Center, Series 2003, 5.000%, 7/01/19 – NPFG Insured 
      
1,500 
  
Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2007, 5.000%, 
4/17 at 100.00 
Aaa 
1,699,500 
   
4/01/37 – AGM Insured 
      
6,400 
  
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization 
3/21 at 100.00 
Aaa 
7,410,236 
   
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– 
1,013,356 
1,165 
  
5.500%, 5/01/38 – AGC Insured 
5/19 at 100.00 
AA– 
1,290,366 
2,500 
  
Georgia State, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15 
No Opt. Call 
AAA 
2,827,075 
2,500 
  
Georgia State, General Obligation Bonds, Series 2007E, 5.000%, 8/01/24 
8/17 at 100.00 
AAA 
2,901,225 
1,955 
  
Georgia State, General Obligation Bonds, Series 2009B, 5.000%, 1/01/26 
1/19 at 100.00 
AAA 
2,364,924 
750 
  
Georgia, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15 
No Opt. Call 
AAA 
861,855 
4,900 
  
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008, 5.000%, 
2/18 at 100.00 
AAA 
5,606,335 
   
2/01/36 (UB) 
      
1,560 
  
Henry County Hospital Authority, Georgia, Revenue Certificates, Henry Medical Center, Series 
7/14 at 101.00 
Aa1 
1,676,033 
   
2004, 5.000%, 7/01/20 – NPFG Insured 
      
445 
  
La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series 
7/18 at 100.00 
Aa2 
488,984 
   
2008A, 5.500%, 7/01/38 
      
2,475 
  
Paulding County School District, Georgia, General Obligation Bonds, Series 2007, 
2/17 at 100.00 
AA+ 
2,811,006 
   
5.000%, 2/01/33 
      
2,250 
  
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/21 at 100.00 
Aa2 
2,502,270 
   
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 
1,473,099 
   
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 
Aa3 
2,357,180 
   
Refunding Series 2012, 5.000%, 12/01/29 – AGM Insured 
      
42,260 
  
Total Tax Obligation/General 
    
47,795,658 
   
Tax Obligation/Limited – 20.8% (14.1% of Total Investments) 
      
   
Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007: 
      
70 
  
5.250%, 12/01/19 – AGC Insured 
12/17 at 100.00 
AA– 
78,509 
80 
  
5.250%, 12/01/21 – AGC Insured 
12/17 at 100.00 
AA– 
88,377 
1,080 
  
5.000%, 12/01/23 – AGC Insured 
12/17 at 100.00 
AA– 
1,166,108 
1,500 
  
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, 
1/19 at 100.00 
N/R 
1,713,930 
   
7.375%, 1/01/31 
      
1,065 
  
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16 
7/15 at 100.00 
A– 
1,159,114 
   
(Alternative Minimum Tax) 
      
   
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005B: 
      
830 
  
5.400%, 1/01/20 
7/15 at 100.00 
A– 
901,704 
575 
  
5.600%, 1/01/30 
7/15 at 100.00 
A– 
619,890 
1,650 
  
Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31 
1/16 at 100.00 
BBB– 
1,676,433 
2,000 
  
Cobb-Marietta Coliseum and Exhibit Hall Authority, Cobb County, Georgia, Revenue Bonds, 
1/14 at 100.00 
AAA 
2,114,600 
   
Performing Arts Center, Series 2004, 5.000%, 1/01/22 
      
125 
  
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Refunding Series 
No Opt. Call 
A+ 
155,309 
   
2005, 5.500%, 10/01/26 – NPFG Insured 
      
   
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds, 
      
   
Series 1993: 
      
460 
  
5.500%, 10/01/18 – NPFG Insured 
No Opt. Call 
BBB 
500,646 
5,745 
  
5.625%, 10/01/26 – NPFG Insured 
10/19 at 100.00 
BBB 
6,698,612 
2,000 
  
Georgia Local Governments, Certificates of Participation, Georgia Municipal Association, 
No Opt. Call 
BBB 
2,050,160 
   
Series 1998A, 4.750%, 6/01/28 – NPFG Insured 
      
750 
  
Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project, 
6/13 at 100.00 
N/R 
758,760 
   
Series 2002, 5.125%, 12/01/21 – AMBAC Insured 
      
405 
  
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42 
1/22 at 100.00 
A 
450,684 
   
Macon-Bibb County Urban Development Authority, Georgia, Revenue Refunding Bonds, Public 
      
   
Facilities Projects, Series 2002A: 
      
1,525 
  
5.000%, 8/01/14 
8/13 at 100.00 
AA 
1,546,259 
2,600 
  
5.375%, 8/01/17 
8/13 at 100.00 
AA 
2,636,556 
3,500 
  
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds, 
No Opt. Call 
Aa2 
4,128,005 
   
Series 1992P, 6.250%, 7/01/20 – AMBAC Insured 
      
25,000 
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 
No Opt. Call 
AA– 
2,221,750 
   
8/01/54 – AMBAC Insured 
      
1,945 
  
Tift County Hospital Authority, Georgia, Revenue Anticipation Bonds, Tift Regional Medical 
12/12 at 101.00 
Aa3 
1,973,572 
   
Center, Series 2002, 5.250%, 12/01/19 – AMBAC Insured 
      
52,905 
  
Total Tax Obligation/Limited 
    
32,638,978 
   
Transportation – 6.2% (4.2% 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– 
2,461,842 
2,710 
  
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012C, 5.000%, 1/01/42 (Alternative 
1/22 at 100.00 
A+ 
2,971,190 
   
Minimum Tax) 
      
2,000 
  
Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2011B, 5.000%, 1/01/30 
1/21 at 100.00 
A+ 
2,218,940 
1,000 
  
Atlanta, Georgia, Airport Passenger Facilities Charge Revenue Bonds, Refunding Series 2004C, 
7/14 at 100.00 
AA– 
1,056,220 
   
5.000%, 1/01/33 – AGM Insured 
      
1,000 
  
Atlanta, Georgia, Airport Passenger Facilities Charge Revenue Bonds, Series 2004J, 5.000%, 
1/15 at 100.00 
AA– 
1,052,220 
   
1/01/34 – AGM Insured 
      
9,000 
  
Total Transportation 
    
9,760,412 
   
U.S. Guaranteed – 18.8% (12.7% of Total Investments) (4) 
      
   
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus 
      
   
Housing LLC Project, Series 2002: 
      
1,000 
  
5.250%, 12/01/21 (Pre-refunded 12/01/12) – AMBAC Insured 
12/12 at 100.00 
Aa2 (4) 
1,012,680 
180 
  
5.000%, 12/01/33 (Pre-refunded 12/01/12) – AMBAC Insured 
12/12 at 100.00 
Aa2 (4) 
182,171 
2,320 
  
5.000%, 12/01/33 (Pre-refunded 12/01/12) – AMBAC Insured 
12/12 at 100.00 
Aa2 (4) 
2,347,979 
   
Athens-Clarke County Unified Government Development Authority, Georgia, Educational Facilities 
      
   
Revenue Bonds, UGAREF CCRC Building LLC Project, Series 2002: 
      
1,000 
  
5.000%, 12/15/16 (Pre-refunded 12/15/12) – AMBAC Insured 
12/12 at 100.00 
N/R (4) 
1,012,850 
1,225 
  
5.000%, 12/15/18 (Pre-refunded 12/15/12) – AMBAC Insured 
12/12 at 100.00 
N/R (4) 
1,240,741 
1,000 
  
Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002, 5.250%, 10/01/22 
10/12 at 100.00 
AA– (4) 
1,004,240 
   
(Pre-refunded 10/01/12) – AGM Insured 
      
1,000 
  
Cherokee County School System, Georgia, General Obligation Bonds, Series 2003, 5.000%, 8/01/16 
8/13 at 100.00 
AA+ (4) 
1,043,980 
   
(Pre-refunded 8/01/13) – NPFG Insured 
      
2,235 
  
Coweta County Development Authority, Georgia, Revenue Bonds, Newnan Water and Sewer, and Light 
1/13 at 100.00 
N/R (4) 
2,272,861 
   
Commission Project, Series 2002, 5.250%, 1/01/18 (Pre-refunded 1/01/13) – FGIC Insured 
      
2,000 
  
Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2002, 5.000%, 
4/13 at 100.00 
Aaa 
2,055,880 
   
4/01/32 (Pre-refunded 4/01/13) 
      
1,000 
  
Forsyth County, Georgia, General Obligation Bonds, Series 2004, 5.250%, 3/01/19 
3/14 at 101.00 
Aaa 
1,085,010 
   
(Pre-refunded 3/01/14) 
      
2,450 
  
Fulton County, Georgia, Water and Sewerage Revenue Bonds, Series 2004, 5.000%, 1/01/22 
1/14 at 100.00 
AA– (4) 
2,604,963 
   
(Pre-refunded 1/01/14) – FGIC Insured 
      
25 
  
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z, 
1/17 at 100.00 
A+ (4) 
28,165 
   
5.500%, 1/01/20 (Pre-refunded 1/01/17) – FGIC Insured 
      
3,100 
  
Harris County, Georgia, Water System Revenue Bonds, Series 2002, 5.000%, 12/01/22 
12/12 at 100.00 
A+ (4) 
3,136,673 
   
(Pre-refunded 12/01/12) – AMBAC Insured 
      
   
Newnan Hospital Authority, Georgia, Revenue Anticipation Certificates, Newnan Hospital Inc., 
      
   
Series 2002: 
      
2,260 
  
5.500%, 1/01/19 (Pre-refunded 1/01/13) – NPFG Insured 
1/13 at 100.00 
Aa3 (4) 
2,300,160 
3,020 
  
5.500%, 1/01/20 (Pre-refunded 1/01/13) – NPFG Insured 
1/13 at 100.00 
Aa3 (4) 
3,073,665 
   
Oconee County, Georgia, General Obligation Bonds, Recreation Project, Series 2003: 
      
1,410 
  
5.500%, 1/01/23 (Pre-refunded 1/01/13) – AMBAC Insured 
1/13 at 101.00 
Aa2 (4) 
1,449,099 
1,470 
  
5.250%, 1/01/26 (Pre-refunded 1/01/13) – AMBAC Insured 
1/13 at 101.00 
Aa2 (4) 
1,509,543 
2,000 
  
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/12 at 101.00 
A+ (4) 
2,027,980 
   
Medical Center, Series 2002, 5.250%, 10/01/27 (Pre-refunded 10/01/12) – AMBAC Insured 
      
28,695 
  
Total U.S. Guaranteed 
    
29,388,640 
   
Utilities – 9.2% (6.2% of Total Investments) 
      
525 
  
Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power 
No Opt. Call 
A 
530,675 
   
Company – Vogtle Plant, First Series 2012, 1.750%, 12/01/49 (Mandatory put 6/01/17) 
      
200 
  
Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Ogelthrope Power 
No Opt. Call 
A 
200,002 
   
Company – Vogtle Plant, Series 2008, 0.900%, 1/01/39 (Mandatory put 3/01/13) 
      
2,000 
  
Georgia Municipal Electric Authority, General Power Revenue Bonds, Project 1, Series 2007A, 
1/17 at 100.00 
A+ 
2,189,000 
   
5.000%, 1/01/25 – NPFG Insured 
      
975 
  
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z, 
No Opt. Call 
A+ 
1,072,042 
   
5.500%, 1/01/20 – FGIC Insured 
      
   
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B: 
      
1,000 
  
5.000%, 3/15/20 
No Opt. Call 
A 
1,082,710 
1,300 
  
5.000%, 3/15/21 
No Opt. Call 
A 
1,394,900 
1,500 
  
5.000%, 3/15/22 
No Opt. Call 
A 
1,614,960 
   
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A: 
      
350 
  
5.125%, 9/15/17 
No Opt. Call 
A 
385,266 
950 
  
5.000%, 3/15/18 
No Opt. Call 
A+ 
1,084,321 
   
Municipal Electric Authority of Georgia, Combustion Turbine Revenue Bonds, Series 2003A: 
      
500 
  
5.250%, 11/01/15 – NPFG Insured 
11/13 at 100.00 
A1 
525,195 
1,000 
  
5.000%, 11/01/20 – NPFG Insured 
11/13 at 100.00 
A1 
1,042,720 
2,000 
  
Municipal Electric Authority of Georgia, Project One Subordinated Lien Revenue Bonds, Series 
1/13 at 100.00 
A+ 
2,025,740 
   
2003A, 5.000%, 1/01/22 – NPFG Insured 
      
1,200 
  
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Series 2007B, 
7/17 at 100.00 
Baa3 
1,240,476 
   
5.000%, 7/01/31 
      
13,500 
  
Total Utilities 
    
14,388,007 
   
Water and Sewer – 18.2% (12.3% of Total Investments) 
      
190 
  
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 1999A, 5.000%, 11/01/38 – 
11/12 at 100.00 
A1 
190,317 
   
FGIC Insured 
      
   
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004: 
      
500 
  
5.250%, 11/01/15 – AGM Insured 
11/14 at 100.00 
AA– 
548,000 
2,425 
  
5.000%, 11/01/24 – AGM Insured 
11/14 at 100.00 
AA– 
2,575,350 
700 
  
5.000%, 11/01/37 – AGM Insured 
11/14 at 100.00 
AA– 
730,401 
3,500 
  
Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002, 5.000%, 10/01/27 – 
10/12 at 100.00 
AA– 
3,506,860 
   
AGM Insured 
      
5,105 
  
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2001, 5.000%, 
8/18 at 100.00 
AA 
5,629,895 
   
8/01/35 – AGM Insured 
      
335 
  
Coweta County Water and Sewer Authority, Georgia, Revenue Bonds, Series 2001, 5.250%, 
6/13 at 100.00 
Aa2 
339,596 
   
6/01/26 – AMBAC 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 
1,105,700 
1,000 
  
5.000%, 6/01/37 
6/18 at 100.00 
Aa2 
1,092,430 
1,250 
  
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Refunding Series 2006B, 5.250%, 
10/26 at 100.00 
Aa2 
1,558,838 
   
10/01/32 – AGM Insured 
      
1,850 
  
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Second Resolution Series 2011A, 
10/21 at 100.00 
Aa3 
2,119,360 
   
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 
2,533,318 
   
Bonds, Series 2007, 5.000%, 6/01/37 – NPFG Insured 
      
1,000 
  
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue Bonds, 
12/15 at 100.00 
Aa2 
1,105,390 
   
Series 2005, 5.000%, 6/01/29 – NPFG Insured 
      
385 
  
Fulton County, Georgia, Water and Sewerage Revenue Bonds, Series 2004, 5.000%, 1/01/35 – 
1/14 at 100.00 
AA– 
402,795 
   
FGIC Insured 
      
500 
  
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization 
2/21 at 100.00 
Aaa 
575,200 
   
Bonds, Cobb County-Marietta Water Authority Loans, Series 2011, 5.250%, 2/15/36 
      
1,000 
  
Midgeville, Georgia, Water and Sewerage Revenue Refunding Bonds, Series 1996, 6.000%, 
No Opt. Call 
AA– 
1,223,500 
   
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+ 
1,138,540 
   
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 
2,131,598 
   
   Reservoir Project, Series 2008, 5.000%, 2/01/38 – AGM Insured 
      
25,940 
  
Total Water and Sewer 
    
28,507,088 
$ 279,095 
  
Total Investments (cost $215,309,326) – 148.0% 
    
231,784,847 
   
Floating Rate Obligations – (2.1)% 
    
(3,245,000) 
   
MuniFund Term Preferred Shares, at Liquidation Value – (47.9)% (5) 
    
(74,945,000) 
   
Other Assets Less Liabilities – 2.0% 
    
3,024,190 
   
Net Assets Applicable to Common Shares – 100% 
    
$ 156,619,037 
 
 

 
 
 
 
 
Fair Value Measurements
Fair value is defined as the price that the Funds 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 
   $ —     $ 231,784,847     $ —     $ 231,784,847  
 
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
 
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
 
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
 
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.
 
At August 31, 2012, the cost of investments was $212,018,085.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2012, were as follows:
   
Gross unrealized: 
  
     Appreciation 
$16,540,581 
     Depreciation 
(18,287) 
Net unrealized appreciation (depreciation) of investments 
$16,522,294 
 
(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 32.3%. 
N/R 
  
Not rated. 
(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, 2012        
 
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, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         October 30, 2012