Investment Company Act file number 811-21213
Nuveen Insured Tax-Free Advantage Municipal Fund
(Exact name of registrant as specified in charter)
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Jessica R. DroegerVice 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: 1/31/06
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 Tax-Free Advantage Municipal Fund (NEA) January 31, 2006 |
Optional | ||||||||
Principal | Call | |||||||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
| ||||||||
Alabama 8.3% (5.5% of Total Investments) | ||||||||
$ 5,655 | Colbert County-Northwest Health Care Authority, Alabama, Revenue Bonds, Helen Keller Hospital, | 6/13 at 101.00 | Baa3 | $ | 5,810,739 | |||
Series 2003, 5.750%, 6/01/27 | ||||||||
3,100 | Huntsville Healthcare Authority, Alabama, Revenue Bonds, Series 1998A, 5.400%, 6/01/22 MBIA | 5/12 at 102.00 | AAA | 3,374,753 | ||||
Insured | ||||||||
6,280 | Jefferson County, Alabama, Sewer Revenue Capital Improvement Warrants, Series 2002D, 5.000%, | 8/12 at 100.00 | AAA | 6,786,294 | ||||
2/01/32 (Pre-refunded 8/01/12) FGIC Insured | ||||||||
1,750 | Montgomery, Alabama, General Obligation Warrants, Series 2003, 5.000%, 5/01/21 AMBAC Insured | 5/12 at 101.00 | AAA | 1,847,930 | ||||
4,500 | Sheffield, Alabama, Electric Revenue Bonds, Series 2003, 5.500%, 7/01/29 AMBAC Insured | 7/13 at 100.00 | Aaa | 4,898,520 | ||||
| ||||||||
21,285 | Total Alabama | 22,718,236 | ||||||
| ||||||||
Arizona 3.8% (2.5% of Total Investments) | ||||||||
10,000 | Maricopa County Pollution Control Corporation, Arizona, Revenue Bonds, Arizona Public Service | 11/12 at 100.00 | AAA | 10,335,800 | ||||
Company Palo Verde Project, Series 2002A, 5.050%, 5/01/29 AMBAC Insured | ||||||||
| ||||||||
California 29.0% (19.2% of Total Investments) | ||||||||
26,300 | California State Public Works Board, Lease Revenue Bonds, Department of General Services, | 12/12 at 100.00 | AAA | 27,197,619 | ||||
Capital East End Project, Series 2002A, 5.000%, 12/01/27 AMBAC Insured | ||||||||
7,500 | California, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 AMBAC Insured | 4/14 at 100.00 | AAA | 7,771,650 | ||||
13,500 | California, General Obligation Refunding Bonds, Series 2002, 5.250%, 4/01/30 XLCA Insured | 4/12 at 100.00 | AAA | 14,317,965 | ||||
2,910 | Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Housing | 8/12 at 102.00 | AAA | 3,033,762 | ||||
Set-Aside, Series 2002D, 5.000%, 8/01/26 MBIA Insured | ||||||||
2,500 | Irvine Public Facilities and Infrastructure Authority, California, Assessment Revenue Bonds, | 3/06 at 103.00 | AAA | 2,575,600 | ||||
Series 2003C, 5.000%, 9/02/23 AMBAC Insured | ||||||||
4,000 | Montara Sanitation District, California, General Obligation Bonds, Series 2003, 5.000%, | 8/11 at 101.00 | AAA | 4,156,560 | ||||
8/01/28 FGIC Insured | ||||||||
Plumas County, California, Certificates of Participation, Capital Improvement Program, Series | ||||||||
2003A: | ||||||||
1,130 | 5.250%, 6/01/19 AMBAC Insured | 6/13 at 101.00 | AAA | 1,224,773 | ||||
1,255 | 5.250%, 6/01/21 AMBAC Insured | 6/13 at 101.00 | AAA | 1,353,618 | ||||
1,210 | Redding Joint Powers Financing Authority, California, Lease Revenue Bonds, Capital Improvement | 3/13 at 100.00 | AAA | 1,255,206 | ||||
Projects, Series 2003A, 5.000%, 3/01/23 AMBAC Insured | ||||||||
3,750 | Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2003R, | 8/13 at 100.00 | AAA | 3,903,938 | ||||
5.000%, 8/15/28 MBIA Insured | ||||||||
1,500 | San Diego Community College District, California, General Obligation Bonds, Series 2003A, | 5/13 at 100.00 | AAA | 1,559,505 | ||||
5.000%, 5/01/28 FSA Insured | ||||||||
3,000 | San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment | 8/10 at 101.00 | AAA | 3,067,080 | ||||
Project, Series 2002, 5.000%, 8/01/32 MBIA Insured | ||||||||
1,055 | Turlock Irrigation District, California, Certificates of Participation, Series 2003A, 5.000%, | 1/13 at 100.00 | AAA | 1,088,865 | ||||
1/01/28 MBIA Insured | ||||||||
6,300 | University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.000%, 5/15/33 | 5/13 at 100.00 | AAA | 6,499,395 | ||||
AMBAC Insured | ||||||||
| ||||||||
75,910 | Total California | 79,005,536 | ||||||
| ||||||||
Colorado 3.8% (2.5% of Total Investments) | ||||||||
Bowles Metropolitan District, Colorado, General Obligation Bonds, Series 2003: | ||||||||
4,300 | 5.500%, 12/01/23 FSA Insured | 12/13 at 100.00 | AAA | 4,736,837 | ||||
3,750 | 5.500%, 12/01/28 FSA Insured | 12/13 at 100.00 | AAA | 4,114,800 | ||||
1,450 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, | 8/14 at 100.00 | AAA | 1,542,757 | ||||
Peak-to-Peak Charter School, Series 2004, 5.250%, 8/15/24 XLCA Insured | ||||||||
| ||||||||
9,500 | Total Colorado | 10,394,394 | ||||||
| ||||||||
Florida 1.2% (0.8% of Total Investments) | ||||||||
3,000 | Pinellas County Health Facilities Authority, Florida, Revenue Bonds, Baycare Health System, | 5/13 at 100.00 | A1 | 3,170,130 | ||||
Series 2003, 5.500%, 11/15/27 | ||||||||
| ||||||||
Georgia 1.5% (1.0% of Total Investments) | ||||||||
3,825 | Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Second | 1/13 at 100.00 | AAA | 3,957,001 | ||||
Indenture Series 2002, 5.000%, 7/01/32 MBIA Insured | ||||||||
| ||||||||
Illinois 3.8% (2.5% of Total Investments) | ||||||||
905 | Cook County School District 100, Berwyn South, Illinois, General Obligation Refunding Bonds, | 12/13 at 100.00 | Aaa | 997,328 | ||||
Series 2003B, 5.250%, 12/01/21 (Pre-refunded 12/01/13) FSA Insured | ||||||||
Cook County School District 145, Arbor Park, Illinois, General Obligation Bonds, Series 2004: | ||||||||
3,285 | 5.125%, 12/01/20 FSA Insured | 12/14 at 100.00 | Aaa | 3,521,421 | ||||
2,940 | 5.125%, 12/01/23 FSA Insured | 12/14 at 100.00 | Aaa | 3,124,955 | ||||
2,500 | Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2003, | 7/13 at 100.00 | A | 2,585,950 | ||||
5.250%, 7/01/23 | ||||||||
| ||||||||
9,630 | Total Illinois | 10,229,654 | ||||||
| ||||||||
Indiana 8.8% (5.8% of Total Investments) | ||||||||
2,500 | Evansville, Indiana, Sewerage Works Revenue Refunding Bonds, Series 2003A, 5.000%, 7/01/23 | 7/13 at 100.00 | AAA | 2,622,025 | ||||
AMBAC Insured | ||||||||
2,190 | Indiana Bond Bank, Advance Purchase Funding Bonds, Common School Fund, Series 2003B, 5.000%, | 8/13 at 100.00 | AAA | 2,306,771 | ||||
8/01/19 MBIA Insured | ||||||||
1,000 | Indiana University, Student Fee Revenue Bonds, Series 2003O, 5.000%, 8/01/22 FGIC Insured | 8/13 at 100.00 | AAA | 1,049,700 | ||||
IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Series 2003: | ||||||||
11,020 | 5.000%, 7/15/19 MBIA Insured | 7/13 at 100.00 | AAA | 11,673,927 | ||||
6,000 | 5.000%, 7/15/20 MBIA Insured | 7/13 at 100.00 | AAA | 6,332,700 | ||||
| ||||||||
22,710 | Total Indiana | 23,985,123 | ||||||
| ||||||||
Kansas 2.4% (1.6% of Total Investments) | ||||||||
6,250 | Kansas Development Finance Authority, Board of Regents, Revenue Bonds, Scientific Research and | 4/13 at 102.00 | AAA | 6,623,125 | ||||
Development Facilities Projects, Series 2003C, 5.000%, 10/01/22 AMBAC Insured | ||||||||
| ||||||||
Kentucky 0.5% (0.3% of Total Investments) | ||||||||
Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 77, Series | ||||||||
2003: | ||||||||
340 | 5.000%, 8/01/23 (Pre-refunded 8/01/13) MBIA Insured | 8/13 at 100.00 | AAA | 367,907 | ||||
985 | 5.000%, 8/01/23 (Pre-refunded 8/01/13) MBIA Insured | 8/13 at 100.00 | AAA | 1,065,849 | ||||
| ||||||||
1,325 | Total Kentucky | 1,433,756 | ||||||
| ||||||||
Louisiana 2.2% (1.5% of Total Investments) | ||||||||
5,785 | New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2002, 5.300%, 12/01/27 | 12/12 at 100.00 | AAA | 6,080,324 | ||||
FGIC Insured | ||||||||
| ||||||||
Massachusetts 5.1% (3.4% of Total Investments) | ||||||||
9,000 | Massachusetts Bay Transportation Authority, Senior Sales Tax Revenue Refunding Bonds, Series | 7/12 at 100.00 | AAA | 9,718,560 | ||||
2002A, 5.000%, 7/01/27 (Pre-refunded 7/01/12) FGIC Insured | ||||||||
1,125 | Massachusetts Development Finance Authority, Revenue Bonds, Middlesex School, Series 2003, | 9/13 at 100.00 | A1 | 1,177,065 | ||||
5.125%, 9/01/23 | ||||||||
3,000 | Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series | 1/07 at 102.00 | AAA | 3,045,780 | ||||
1997A, 5.000%, 1/01/37 MBIA Insured | ||||||||
| ||||||||
13,125 | Total Massachusetts | 13,941,405 | ||||||
| ||||||||
Michigan 11.6% (7.7% of Total Investments) | ||||||||
6,130 | Detroit, Michigan, Senior Lien Water Supply System Revenue Bonds, Series 2003A, 5.000%, | 7/13 at 100.00 | AAA | 6,459,488 | ||||
7/01/23 MBIA Insured | ||||||||
4,465 | Detroit, Michigan, Senior Lien Water Supply System Revenue Refunding Bonds, Series 2003C, | 7/13 at 100.00 | AAA | 4,706,467 | ||||
5.000%, 7/01/22 MBIA Insured | ||||||||
10,800 | Michigan Strategic Fund, Limited Obligation Resource Recovery Revenue Refunding Bonds, Detroit | 12/12 at 100.00 | AAA | 11,261,376 | ||||
Edison Company, Series 2002D, 5.250%, 12/15/32 XLCA Insured | ||||||||
2,250 | Romulus Community Schools, Wayne County, Michigan, General Obligation Refunding Bonds, Series | 5/11 at 100.00 | AA | 2,387,655 | ||||
2001, 5.250%, 5/01/25 | ||||||||
6,500 | Wayne County, Michigan, Limited Tax General Obligation Airport Hotel Revenue Bonds, Detroit | 12/11 at 101.00 | AAA | 6,733,480 | ||||
Metropolitan Wayne County Airport, Series 2001A, 5.000%, 12/01/30 MBIA Insured | ||||||||
30,145 | Total Michigan | 31,548,466 | ||||||
| ||||||||
Missouri 1.1% (0.7% of Total Investments) | ||||||||
Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series 2004: | ||||||||
1,325 | 5.250%, 3/01/23 FSA Insured | 3/14 at 100.00 | AAA | 1,444,502 | ||||
1,500 | 5.250%, 3/01/24 FSA Insured | 3/14 at 100.00 | AAA | 1,632,465 | ||||
| ||||||||
2,825 | Total Missouri | 3,076,967 | ||||||
| ||||||||
Nebraska 1.9% (1.3% of Total Investments) | ||||||||
5,000 | Lincoln, Nebraska, Sanitary Sewerage System Revenue Refunding Bonds, Series 2003, 5.000%, | 6/13 at 100.00 | AAA | 5,198,050 | ||||
6/15/28 MBIA Insured | ||||||||
| ||||||||
Nevada 0.9% (0.6% of Total Investments) | ||||||||
2,315 | Clark County, Nevada, Subordinate Lien Airport Revenue Bonds, Series 2001B, 5.200%, 7/01/31 | 7/11 at 100.00 | AAA | 2,503,441 | ||||
(Pre-refunded 7/01/11) FGIC Insured | ||||||||
| ||||||||
New Mexico 0.8% (0.5% of Total Investments) | ||||||||
1,975 | New Mexico State University, Revenue Bonds, Series 2004, 5.000%, 4/01/19 AMBAC Insured | 4/14 at 100.00 | AAA | 2,100,729 | ||||
| ||||||||
New York 10.2% (6.8% of Total Investments) | ||||||||
25,000 | Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, | 11/12 at 100.00 | AAA | 25,848,250 | ||||
Series 2002F, 5.000%, 11/15/31 MBIA Insured | ||||||||
1,850 | New York State Urban Development Corporation, Service Contract Revenue Bonds, Series 2005B, | 3/15 at 100.00 | AAA | 1,951,787 | ||||
5.000%, 3/15/25 FSA Insured | ||||||||
| ||||||||
26,850 | Total New York | 27,800,037 | ||||||
| ||||||||
North Carolina 3.3% (2.2% of Total Investments) | ||||||||
8,700 | North Carolina Medical Care Commission, Revenue Bonds, Maria Parham Medical Center, Series | 10/13 at 100.00 | AA | 9,102,288 | ||||
2003, 5.375%, 10/01/33 RAAI Insured | ||||||||
| ||||||||
Oklahoma 0.5% (0.2% of Total Investments) | ||||||||
1,000 | Oklahoma Capitol Improvement Authority, State Facilities Revenue Bonds, Series 2005F, 5.000%, | 7/15 at 100.00 | AAA | 1,057,270 | ||||
7/01/24 AMBAC Insured | ||||||||
| ||||||||
Oregon 3.6% (2.4% of Total Investments) | ||||||||
9,350 | Oregon Health Sciences University, Revenue Bonds, Series 2002A, 5.000%, 7/01/32 MBIA Insured | 1/13 at 100.00 | AAA | 9,678,279 | ||||
| ||||||||
Pennsylvania 8.7% (5.8% of Total Investments) | ||||||||
3,000 | Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, St. Lukes | 8/13 at 100.00 | Baa1 | 3,091,710 | ||||
Hospital of Bethlehem, Series 2003, 5.375%, 8/15/33 | ||||||||
2,000 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998, | 8/13 at 100.00 | AAA | 2,063,700 | ||||
5.000%, 8/01/32 FSA Insured | ||||||||
925 | Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 1997A, 5.125%, 8/01/27 | 8/07 at 102.00 | AAA | 954,896 | ||||
(ETM) AMBAC Insured | ||||||||
4,075 | Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 1997A, 5.125%, 8/01/27 | 8/07 at 102.00 | AAA | 4,234,088 | ||||
AMBAC Insured | ||||||||
13,000 | State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School | 6/13 at 100.00 | AAA | 13,413,660 | ||||
District, Series 2003, 5.000%, 6/01/33 FSA Insured | ||||||||
| ||||||||
23,000 | Total Pennsylvania | 23,758,054 | ||||||
| ||||||||
South Carolina 7.4% (4.9% of Total Investments) | ||||||||
5,000 | Florence County, South Carolina, Hospital Revenue Bonds, McLeod Regional Medical Center, | 11/14 at 100.00 | AAA | 5,361,850 | ||||
Series 2004A, 5.250%, 11/01/23 FSA Insured | ||||||||
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2003: | ||||||||
3,000 | 5.000%, 12/01/22 | 12/13 at 100.00 | AA- | 3,109,950 | ||||
1,785 | 5.000%, 12/01/23 | 12/13 at 100.00 | AA- | 1,846,832 | ||||
1,365 | Myrtle Beach, South Carolina, Water and Sewerage System Revenue Refunding Bonds, Series 2003, | 3/13 at 100.00 | AAA | 1,488,956 | ||||
5.375%, 3/01/19 FGIC Insured | ||||||||
8,000 | South Carolina Transportation Infrastructure Bank, Revenue Bonds, Series 2002A, 5.000%, | 10/12 at 100.00 | Aaa | 8,243,920 | ||||
10/01/33 AMBAC Insured | ||||||||
| ||||||||
19,150 | Total South Carolina | 20,051,508 | ||||||
| ||||||||
Texas 13.0% (8.6% of Total Investments) | ||||||||
7,975 | Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds, | 8/10 at 100.00 | AAA | 8,283,074 | ||||
Series 2000, 5.000%, 8/15/25 | ||||||||
12,500 | Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, | 2/13 at 100.00 | AAA | 12,966,625 | ||||
Series 2003, 5.125%, 2/15/31 FSA Insured | ||||||||
2,000 | Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%, | 5/14 at 100.00 | AAA | 2,136,200 | ||||
5/15/25 MBIA Insured | ||||||||
5,515 | Houston, Texas, General Obligation Refunding Bonds, Series 2002, 5.250%, 3/01/20 MBIA Insured | 3/12 at 100.00 | AAA | 5,916,106 | ||||
5,850 | Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General | 2/12 at 100.00 | AAA | 6,227,325 | ||||
Obligation Bonds, Series 2002A, 5.125%, 2/15/18 | ||||||||
| ||||||||
33,840 | Total Texas | 35,529,330 | ||||||
| ||||||||
Virginia 0.6% (0.4% of Total Investments) | ||||||||
1,500 | Hampton, Virginia, Revenue Bonds, Convention Center Project, Series 2002, 5.125%, 1/15/28 | 1/13 at 100.00 | AAA | 1,566,345 | ||||
AMBAC Insured | ||||||||
| ||||||||
Washington 9.2% (6.1% of Total Investments) | ||||||||
4,945 | Broadway Office Properties, King County, Washington, Lease Revenue Bonds, Washington Project, | 12/12 at 100.00 | AAA | 5,084,350 | ||||
Series 2002, 5.000%, 12/01/31 MBIA Insured | ||||||||
5,250 | Chelan County Public Utility District 1, Washington, Hydro Consolidated System Revenue Bonds, | 7/12 at 100.00 | AAA | 5,419,103 | ||||
Series 2002C, 5.125%, 7/01/33 AMBAC Insured | ||||||||
2,135 | Kitsap County Consolidated Housing Authority, Washington, Revenue Bonds, Bremerton Government | 7/13 at 100.00 | Aaa | 2,225,524 | ||||
Center, Series 2003, 5.000%, 7/01/23 MBIA Insured | ||||||||
1,935 | Pierce County School District 343, Dieringer, Washington, General Obligation Refunding Bonds, | 6/13 at 100.00 | Aaa | 2,095,624 | ||||
Series 2003, 5.250%, 12/01/17 FGIC Insured | ||||||||
9,670 | Washington, General Obligation Bonds, Series 2003D, 5.000%, 12/01/21 MBIA Insured | 6/13 at 100.00 | AAA | 10,168,972 | ||||
| ||||||||
23,935 | Total Washington | 24,993,573 | ||||||
| ||||||||
West Virginia 1.2% (0.8% of Total Investments) | ||||||||
3,000 | West Virginia State Building Commission, Lease Revenue Refunding Bonds, Regional Jail and | No Opt. Call | AAA | 3,380,550 | ||||
Corrections Facility, Series 1998A, 5.375%, 7/01/21 AMBAC Insured | ||||||||
| ||||||||
Wisconsin 6.7% (4.4% of Total Investments) | ||||||||
1,190 | Sun Prairie Area School District, Dane County, Wisconsin, General Obligation Bonds, Series | 3/14 at 100.00 | Aaa | 1,274,431 | ||||
2004C, 5.250%, 3/01/24 FSA Insured | ||||||||
4,605 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of | 9/13 at 100.00 | A | 4,902,805 | ||||
Christian Charity Healthcare Ministry, Series 2003A, 5.875%, 9/01/33 | ||||||||
3,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital Inc., | No Opt. Call | AAA | 3,446,910 | ||||
Series 1992A, 6.000%, 12/01/22 FGIC Insured | ||||||||
3,600 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan | 8/13 at 100.00 | A | 3,662,964 | ||||
Services Inc., Series 2003A, 5.125%, 8/15/33 | ||||||||
4,750 | Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds, Wausau | 8/08 at 102.00 | AAA | 4,998,470 | ||||
Hospital Inc., Series 1998A, 5.125%, 8/15/20 AMBAC Insured | ||||||||
| ||||||||
17,145 | Total Wisconsin | 18,285,580 | ||||||
| ||||||||
$ 392,075 | Total Investments (cost $393,026,527) 151.1% | 411,504,951 | ||||||
|
| |||||||
Other Assets Less Liabilities 1.8% | 4,788,214 | |||||||
| ||||||||
Preferred Shares, at Liquidation Value (52.9)% | (144,000,000) | |||||||
| ||||||||
Net Assets Applicable to Common Shares 100% | $ | 272,293,165 | ||||||
|
Forward Swaps outstanding at January 31,
2006: |
Fixed Rate | Floating Rate | |||||||||||||||
Paid | Fixed Rate | Received | Floating Rate | Unrealized | ||||||||||||
Notional | by the Fund | Payment | by the Fund | Payment | Effective | Terminiation | Appreciation | |||||||||
Counterparty | Amount | (annualized) | Frequency | Based On | Frequency | Date (4) | Date | (Depreciation) | ||||||||
| ||||||||||||||||
Citigroup | $ 13,500,000 | 4.652% | Semi-Annually | 3 Month USD-LIBOR | Quarterly | 2/22/06 | 2/22/26 | $ 826,170 | ||||||||
Citigroup | 3,000,000 | 4.699 | Semi-Annually | 3 Month USD-LIBOR | Quarterly | 2/27/06 | 2/27/26 | 166,093 | ||||||||
JPMorgan | 9,000,000 | 5.075 | Semi-Annually | 3 Month USD-LIBOR | Quarterly | 2/22/06 | 2/22/06 | 77,172 | ||||||||
| ||||||||||||||||
$1,069,435 | ||||||||||||||||
|
USD-LIBOR (United States DollarLondon InterBank
Offered Rates) |
At least 80% of the Funds net assets (including net assets attributable to Preferred shares) are invested | ||
in municipal securities that are either covered by Original Issue Insurance, Secondary Market Insurance | ||
or Portfolio Insurance which ensures the timely payment of principal and interest. Up to 20% of the Funds | ||
net assets (including net assets attributable to Preferred shares) may be invested in municipal securities | ||
that are (i) either backed by an escrow or trust containing sufficient U.S. Government or U.S. Government | ||
agency securities (also ensuring the timely payment of principal and interest), or (ii) rated, at the time of | ||
investment, within the four highest grades (Baa or BBB or better by Moodys, S&P or Fitch) or unrated but | ||
judged to be of comparable quality by the Adviser. | ||
(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 or Moodys rating. Ratings below Baa by Moody's Investor | |
Service, Inc. or BBB by Standard & Poor's Group are considered to be below investment grade. | ||
(4) | Effective date represents that date on which both the Fund and counterparty commence interest payment | |
accruals on each forward swap contract. | ||
(ETM) | Security is escrowed to maturity. |
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 and timing differences in recognizing certain gains and losses on investment transactions.
At January 31, 2006, the cost of investments was $397,033,266.
Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2006, were as follows:
| |
Gross unrealized: | |
Appreciation | $18,507,819 |
Depreciation | (4,036,134) |
| |
Net unrealized appreciation (depreciation) of investments | $14,471,685 |
|
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: 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 Tax-Free Advantage Municipal Fund
By (Signature and Title)* /s/ Jessica R. Droeger
Jessica R. Droeger
Vice President and Secretary
Date March 31, 2006
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 March 31, 2006
By (Signature and Title)* /s/ Stephen D. Foy
Stephen D. Foy
Vice President and Controller (principal financial
officer)
Date March 31, 2006
* Print the name and title of each signing officer under his or her signature.