Investment Company Act file number 811-09161
Nuveen California Dividend 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: 08/31
Date of reporting period: 11/30/06
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 California Dividend Advantage Municipal Fund (NAC) | ||||||||
November 30, 2006 | ||||||||
Principal | Optional Call | |||||||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
| ||||||||
Consumer Staples 1.9% (1.3% of Total Investments) | ||||||||
$ 1,330 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma | 6/15 at 100.00 | BBB | $ | 1,295,553 | |||
County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21 | ||||||||
5,200 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed | 6/13 at 100.00 | BBB | 5,837,260 | ||||
Bonds, Series 2003A-1, 6.250%, 6/01/33 | ||||||||
| ||||||||
6,530 | Total Consumer Staples | 7,132,813 | ||||||
| ||||||||
Education and Civic Organizations 2.3% (1.6% of Total Investments) | ||||||||
290 | California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series | 10/35 at 100.00 | A3 | 304,668 | ||||
2005A, 5.000%, 10/01/35 | ||||||||
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006: | ||||||||
200 | 5.000%, 11/01/21 | 11/15 at 100.00 | A2 | 214,952 | ||||
265 | 5.000%, 11/01/25 | 11/15 at 100.00 | A2 | 283,168 | ||||
615 | California Statewide Community Development Authority, Revenue Bonds, Notre Dame de Namur | 10/13 at 100.00 | N/R | 678,843 | ||||
University, Series 2003, 6.500%, 10/01/23 | ||||||||
3,000 | Long Beach Bond Financing Authority, California, Lease Revenue Refunding Bonds, Long Beach | 11/11 at 100.00 | AAA | 3,265,380 | ||||
Aquarium of the South Pacific, Series 2001, 5.500%, 11/01/17 AMBAC Insured | ||||||||
3,500 | University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.125%, 5/15/17 | 5/13 at 100.00 | AAA | 3,808,245 | ||||
AMBAC Insured | ||||||||
| ||||||||
7,870 | Total Education and Civic Organizations | 8,555,256 | ||||||
| ||||||||
Health Care 10.6% (7.3% of Total Investments) | ||||||||
2,160 | California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist | 3/13 at 100.00 | A | 2,283,466 | ||||
Health System/West, Series 2003A, 5.000%, 3/01/15 | ||||||||
1,990 | California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center, | 11/15 at 100.00 | A3 | 2,096,565 | ||||
Series 2005, 5.000%, 11/15/34 | ||||||||
9,280 | California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System, | 3/16 at 100.00 | A+ | 9,752,909 | ||||
Series 2006, 5.000%, 3/01/41 | ||||||||
3,095 | California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, | 8/16 at 100.00 | A+ | 3,349,626 | ||||
Series 2001C, 5.250%, 8/01/31 | ||||||||
8,000 | Central California Joint Powers Health Finance Authority, Certificates of Participation, | 2/10 at 101.00 | Baa2 | 8,450,000 | ||||
Community Hospitals of Central California Obligated Group, Series 2000, 6.000%, 2/01/30 | ||||||||
10,500 | Duarte, California, Certificates of Participation, City of Hope National Medical Center, | 4/09 at 101.00 | A | 10,829,280 | ||||
Series 1999A, 5.250%, 4/01/31 | ||||||||
2,500 | Whittier, California, Health Facility Revenue Bonds, Presbyterian Intercommunity Hospital, | 6/12 at 101.00 | A+ | 2,693,575 | ||||
Series 2002, 5.600%, 6/01/22 | ||||||||
| ||||||||
37,525 | Total Health Care | 39,455,421 | ||||||
| ||||||||
Housing/Multifamily 8.0% (5.5% of Total Investments) | ||||||||
5,170 | California Statewide Community Development Authority, GNMA Collateralized Housing Revenue | 8/12 at 105.00 | Aaa | 5,850,889 | ||||
Refunding Bonds, Crowne Pointe Project, Series 2002F, 6.750%, 8/20/37 | ||||||||
7,250 | California Statewide Community Development Authority, Revenue Refunding Bonds, Irvine | No Opt. Call | BBB | 7,390,360 | ||||
Apartment Communities Development, Series 1998A, 4.900%, 5/15/25 (Mandatory put 5/15/08) | ||||||||
5,000 | Contra Costa County, California, Multifamily Housing Revenue Bonds, Delta View Apartments | 6/09 at 102.00 | N/R | 5,247,750 | ||||
Project, Series 1999C, 6.750%, 12/01/30 (Alternative Minimum Tax) | ||||||||
320 | Independent Cities Lease Finance Authority, California, Mobile Home Park Revenue Bonds, San | 5/16 at 100.00 | N/R | 333,168 | ||||
Juan Mobile Estates, Series 2006B, 5.850%, 5/15/41 | ||||||||
1,725 | Rohnert Park Finance Authority, California, Senior Lien Revenue Bonds, Rancho Feliz Mobile | 9/13 at 100.00 | A+ | 1,874,540 | ||||
Home Park, Series 2003A, 5.750%, 9/15/38 | ||||||||
1,120 | Rohnert Park Finance Authority, California, Subordinate Lien Revenue Bonds, Rancho Feliz | 9/13 at 100.00 | N/R | 1,215,222 | ||||
Mobile Home Park, Series 2003B, 6.625%, 9/15/38 | ||||||||
7,500 | San Bernardino County Housing Authority, California, Multifamily Housing Revenue Refunding | No Opt. Call | A | 7,745,700 | ||||
Bonds, Equity Residential Properties/Redlands Lawn and Tennis Apartments, Series 1999A, | ||||||||
5.200%, 6/15/29 (Mandatory put 6/15/09) | ||||||||
| ||||||||
28,085 | Total Housing/Multifamily | 29,657,629 | ||||||
| ||||||||
Housing/Single Family 0.3% (0.2% of Total Investments) | ||||||||
845 | California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, | 2/16 at 100.00 | AAA | 915,921 | ||||
8/01/30 FGIC Insured (Alternative Minimum Tax) | ||||||||
| ||||||||
Industrials 0.7% (0.4% of Total Investments) | ||||||||
2,000 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste | 1/16 at 102.00 | BBB | 2,106,100 | ||||
Management Inc., Series 2002A, 5.000%, 1/01/22 (Alternative Minimum Tax) | ||||||||
| ||||||||
Long-Term Care 2.4% (1.6% of Total Investments) | ||||||||
8,500 | Riverside County Public Financing Authority, California, Certificates of Participation, Air | 5/09 at 101.00 | BBB | 8,845,185 | ||||
Force Village West, Series 1999, 5.800%, 5/15/29 | ||||||||
| ||||||||
Tax Obligation/General 20.5% (14.1% of Total Investments) | ||||||||
2,000 | California, General Obligation Bonds, Series 2003, 5.250%, 11/01/19 RAAI Insured | 11/13 at 100.00 | AA | 2,185,100 | ||||
California, General Obligation Bonds, Series 2004: | ||||||||
5,000 | 5.125%, 4/01/23 | 4/14 at 100.00 | A+ | 5,388,900 | ||||
4,150 | 5.125%, 4/01/25 | 4/14 at 100.00 | A+ | 4,461,831 | ||||
California, General Obligation Refunding Bonds, Series 2002: | ||||||||
8,000 | 5.000%, 2/01/12 | No Opt. Call | A+ | 8,548,960 | ||||
4,435 | 6.000%, 4/01/16 AMBAC Insured | No Opt. Call | AAA | 5,269,667 | ||||
5,000 | Coast Community College District, Orange County, California, General Obligation Bonds, Series | 8/16 at 100.00 | AAA | 5,441,350 | ||||
2006B, 5.000%, 8/01/24 FSA Insured | ||||||||
5,000 | Fresno Unified School District, Fresno County, California, General Obligation Bonds, Series | No Opt. Call | AAA | 6,201,800 | ||||
2002A, 6.000%, 8/01/26 MBIA Insured | ||||||||
10,845 | Los Angeles Unified School District, California, General Obligation Bonds, Series 2002E, | 7/12 at 100.00 | AAA | 11,615,320 | ||||
5.000%, 7/01/19 MBIA Insured | ||||||||
3,335 | Moreno Valley Unified School District, Riverside County, California, General Obligation Bonds, | 8/14 at 100.00 | AAA | 3,674,903 | ||||
Series 2004A, 5.250%, 8/01/21 FSA Insured | ||||||||
5,210 | Oak Valley Hospital District, Stanislaus County, California, General Obligation Bonds, Series | 7/14 at 101.00 | Aaa | 5,548,233 | ||||
2005, 5.000%, 7/01/35 FGIC Insured | ||||||||
1,750 | Oakland Unified School District, Alameda County, California, General Obligation Bonds, Series | 8/08 at 101.00 | AAA | 1,809,412 | ||||
2001, 5.125%, 8/01/21 FSA Insured | ||||||||
575 | Roseville Joint Union High School District, Placer County, California, General Obligation | 8/15 at 100.00 | AAA | 618,706 | ||||
Bonds, Series 2006B, 5.000%, 8/01/27 FGIC Insured | ||||||||
5,000 | San Diego Unified School District, San Diego County, California, General Obligation Bonds, | 7/13 at 101.00 | AAA | 5,527,050 | ||||
Series 2003E, 5.250%, 7/01/20 FSA Insured | ||||||||
2,975 | San Diego Unified School District, San Diego County, California, General Obligation Bonds, | 7/16 at 101.00 | AAA | 3,054,746 | ||||
Series 2006G-1, 4.500%, 7/01/29 FSA Insured (UB) | ||||||||
2,865 | San Ramon Valley Unified School District, Contra Costa County, California, General Obligation | 8/16 at 100.00 | AAA | 3,142,103 | ||||
Bonds, Series 2006, 5.000%, 8/01/21 MBIA Insured | ||||||||
3,605 | West Contra Costa Unified School District, Contra Costa County, California, General Obligation | 8/11 at 101.00 | AAA | 3,854,502 | ||||
Bonds, Series 2003B, 5.000%, 8/01/21 FSA Insured | ||||||||
| ||||||||
69,745 | Total Tax Obligation/General | 76,342,583 | ||||||
| ||||||||
Tax Obligation/Limited 27.9% (19.2% of Total Investments) | ||||||||
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Series 2004D: | ||||||||
1,000 | 5.500%, 9/01/24 | 9/14 at 102.00 | N/R | 1,064,750 | ||||
615 | 5.800%, 9/01/35 | 9/14 at 102.00 | N/R | 659,674 | ||||
1,990 | Brentwood Infrastructure Financing Authority, California, Infrastructure Revenue Refunding | 9/12 at 100.00 | AAA | 2,117,101 | ||||
Bonds, Series 2002A, 5.125%, 9/02/24 FSA Insured | ||||||||
Brentwood Infrastructure Financing Authority, Contra Costa County, California, Capital | ||||||||
Improvement Revenue Bonds, Series 2001: | ||||||||
1,110 | 5.375%, 11/01/18 FSA Insured | 11/11 at 100.00 | AAA | 1,200,931 | ||||
1,165 | 5.375%, 11/01/19 FSA Insured | 11/11 at 100.00 | AAA | 1,260,437 | ||||
3,895 | California, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15 | 7/14 at 100.00 | AA+ | 4,285,279 | ||||
2,000 | Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community | 9/13 at 100.00 | N/R | 2,138,640 | ||||
Facilities District 90-2 - Talega, Series 2003, 6.000%, 9/01/33 | ||||||||
710 | Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community | 9/15 at 100.00 | AAA | 765,494 | ||||
Facilities District, Series 2005, 5.000%, 9/01/24 FGIC Insured | ||||||||
2,135 | Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax | 9/16 at 101.00 | AAA | 2,310,262 | ||||
Allocation Bonds, Series 2006, 5.000%, 9/01/38 AMBAC Insured (UB) | ||||||||
3,490 | Fontana, California, Senior Special Tax Refunding Bonds, Heritage Village Community Facilities | 9/08 at 102.00 | AAA | 3,653,262 | ||||
District 2, Series 1998A, 5.250%, 9/01/17 MBIA Insured | ||||||||
1,125 | Fontana, California, Special Tax Bonds, Sierra Community Facilities District 22, Series 2004, | 9/14 at 100.00 | N/R | 1,208,048 | ||||
6.000%, 9/01/34 | ||||||||
3,980 | Garden Grove, California, Certificates of Participation, Financing Project, Series 2002A, | 3/12 at 101.00 | AAA | 4,343,772 | ||||
5.500%, 3/01/22 AMBAC Insured | ||||||||
Hesperia Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2005A: | ||||||||
540 | 5.000%, 9/01/20 XLCA Insured | 9/15 at 100.00 | AAA | 584,280 | ||||
2,850 | 5.000%, 9/01/35 XLCA Insured | 9/15 at 100.00 | AAA | 3,029,322 | ||||
4,500 | Inglewood Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Area | No Opt. Call | AAA | 5,168,070 | ||||
Redevelopment Project, Series 1998A, 5.250%, 5/01/23 AMBAC Insured | ||||||||
Irvine, California, Unified School District, Community Facilities District Special Tax Bonds, | ||||||||
Series 2006A: | ||||||||
345 | 5.000%, 9/01/26 | 9/16 at 100.00 | N/R | 350,703 | ||||
795 | 5.125%, 9/01/36 | 9/16 at 100.00 | N/R | 816,433 | ||||
675 | Lammersville School District, San Joaquin County, California, Community Facilities District | 9/16 at 100.00 | N/R | 693,198 | ||||
2002, Mountain House Special Tax Bonds, Series 2006, 5.125%, 9/01/35 | ||||||||
2,000 | Lee Lake Water District, Riverside County, California, Special Tax Bonds, Community Facilities | 9/13 at 102.00 | N/R | 2,242,100 | ||||
District 1 of Sycamore Creek, Series 2003, 6.500%, 9/01/24 | ||||||||
1,985 | Lincoln, California, Special Tax Bonds, Lincoln Crossing Community Facilities District 03-1, | 9/13 at 102.00 | N/R | 2,211,786 | ||||
Series 2003A, 6.500%, 9/01/25 | ||||||||
1,360 | Lincoln, California, Special Tax Bonds, Lincoln Crossing Community Facilities District 03-1, | 9/13 at 102.00 | N/R | 1,426,341 | ||||
Series 2004, 6.000%, 9/01/34 | ||||||||
1,290 | Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social | 9/15 at 100.00 | Aaa | 1,373,115 | ||||
Services Project, Series 2005, 5.000%, 9/01/37 AMBAC Insured | ||||||||
5,000 | Los Angeles County Metropolitan Transportation Authority, California, Proposition C Second | 7/08 at 101.00 | AAA | 5,140,000 | ||||
Senior Lien Sales Tax Revenue Refunding Bonds, Series 1998A, 5.000%, 7/01/23 AMBAC Insured | ||||||||
3,555 | Los Angeles County Public Works Financing Authority, California, Revenue Bonds, Regional Park | 10/07 at 101.00 | AA | 3,632,641 | ||||
and Open Space District, Series 1997A, 5.000%, 10/01/16 | ||||||||
1,000 | Los Banos Redevelopment Agency, California, Project Tax Allocation Bonds, Los Banos | 9/16 at 100.00 | AA | 1,054,810 | ||||
Redevelopment Project, Series 2006, 5.000%, 9/01/36 RAAI Insured | ||||||||
1,530 | Moreno Valley Unified School District, Riverside County, California, Certificates of | 3/14 at 100.00 | AAA | 1,627,889 | ||||
Participation, Series 2005, 5.000%, 3/01/24 FSA Insured | ||||||||
9,200 | Norco Redevelopment Agency, California, Tax Allocation Refunding Bonds, Project Area 1, Series | 3/11 at 102.00 | AAA | 9,790,916 | ||||
2001, 5.000%, 3/01/19 MBIA Insured | ||||||||
North Natomas Community Facilities District 4, Sacramento, California, Special Tax Bonds, | ||||||||
Series 2006D: | ||||||||
550 | 5.000%, 9/01/26 (WI/DD, Settling 12/07/06) | 3/07 at 103.00 | N/R | 563,398 | ||||
250 | 5.000%, 9/01/33 (WI/DD, Settling 12/07/06) | 3/07 at 103.00 | N/R | 254,718 | ||||
3,290 | Oakland Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Central | 3/13 at 100.00 | AAA | 3,652,558 | ||||
District Redevelopment Project, Series 2003, 5.500%, 9/01/16 FGIC Insured | ||||||||
5,600 | Palm Springs Financing Authority, California, Lease Revenue Refunding Bonds, Convention Center | 11/11 at 101.00 | AAA | 5,916,120 | ||||
Project, Series 2001A, 5.000%, 11/01/22 MBIA Insured | ||||||||
1,000 | Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged | 12/14 at 100.00 | AAA | 1,069,670 | ||||
Redevelopment Project Areas, Series 2004, 5.000%, 12/01/24 AMBAC Insured | ||||||||
8,100 | Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment | 12/10 at 102.00 | AAA | 8,883,270 | ||||
Project, Series 2000, 5.750%, 6/15/33 MBIA Insured | ||||||||
620 | Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series | 9/15 at 100.00 | AAA | 659,947 | ||||
2005A, 5.000%, 9/01/35 XLCA Insured | ||||||||
1,860 | Riverside Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Project | 8/13 at 100.00 | AAA | 2,011,664 | ||||
Areas, Series 2003, 5.250%, 8/01/22 MBIA Insured | ||||||||
770 | Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%, | 8/13 at 100.00 | AAA | 814,414 | ||||
8/01/25 AMBAC Insured | ||||||||
2,500 | Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, | No Opt. Call | AAA | 2,904,475 | ||||
5.400%, 11/01/20 AMBAC Insured | ||||||||
1,150 | Sacramento, California, Special Tax Bonds, North Natomas Community Facilities District 4, | 9/14 at 100.00 | N/R | 1,236,963 | ||||
Series 2003C, 6.000%, 9/01/33 | ||||||||
2,695 | San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Civic Center Project, | 6/12 at 100.00 | AAA | 2,917,284 | ||||
Series 2002B, 5.250%, 6/01/19 AMBAC Insured | ||||||||
1,595 | San Marcos Public Facilities Authority, California, Special Tax Bonds, Community Facilities | 9/09 at 102.00 | N/R | 1,676,106 | ||||
District 99-1, Series 2003B, 6.000%, 9/01/24 | ||||||||
2,810 | West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities | 9/13 at 103.00 | N/R | 3,208,936 | ||||
District 01-1, Series 2003B, 7.000%, 9/01/38 | ||||||||
2,000 | West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities | 9/13 at 102.00 | N/R | 2,164,080 | ||||
District 01-1, Series 2004B, 6.000%, 9/01/39 | ||||||||
1,350 | West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities | 9/13 at 103.00 | N/R | 1,477,292 | ||||
District 2001-1, Series 2004A, 6.125%, 9/01/39 | ||||||||
| ||||||||
95,980 | Total Tax Obligation/Limited | 103,560,149 | ||||||
| ||||||||
Transportation 18.5% (12.8% of Total Investments) | ||||||||
1,430 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series | 4/16 at 100.00 | AA | 1,545,630 | ||||
2006, 5.000%, 4/01/31 | ||||||||
8,150 | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding | 1/10 at 101.00 | BBB | 8,484,802 | ||||
Bonds, Series 1999, 5.750%, 1/15/40 | ||||||||
8,515 | Los Angeles Harbors Department, California, Revenue Refunding Bonds, Series 2001B, 5.500%, | 8/11 at 100.00 | AAA | 9,119,139 | ||||
8/01/18 AMBAC Insured (Alternative Minimum Tax) | ||||||||
120 | Palm Springs Financing Authority, California, Palm Springs International Airport Revenue | 7/14 at 102.00 | N/R | 124,669 | ||||
Bonds, Series 2006, 5.450%, 7/01/20 (Alternative Minimum Tax) | ||||||||
23,000 | Port of Oakland, California, Revenue Bonds, Series 2000K, 5.750%, 11/01/29 FGIC Insured | 5/10 at 100.00 | AAA | 24,527,199 | ||||
(Alternative Minimum Tax) | ||||||||
23,275 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International | 5/10 at 101.00 | AAA | 24,995,022 | ||||
Airport, Second Series 2000, Issue 24A, 5.750%, 5/01/30 FSA Insured (Alternative Minimum Tax) | ||||||||
| ||||||||
64,490 | Total Transportation | 68,796,461 | ||||||
| ||||||||
U.S. Guaranteed 36.4% (25.1% of Total Investments) (4) | ||||||||
California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A: | ||||||||
1,500 | 5.375%, 5/01/17 (Pre-refunded 5/01/12) XLCA Insured | 5/12 at 101.00 | AAA | 1,656,000 | ||||
9,750 | 5.125%, 5/01/18 (Pre-refunded 5/01/12) | 5/12 at 101.00 | Aaa | 10,644,368 | ||||
15,000 | California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center, | 12/09 at 101.00 | A3 (4) | 16,292,999 | ||||
Series 1999A, 6.125%, 12/01/30 (Pre-refunded 12/01/09) | ||||||||
8,400 | California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, | 10/08 at 101.00 | AAA | 8,740,704 | ||||
Series 1998B, 5.250%, 10/01/14 (ETM) | ||||||||
5,000 | California Statewide Community Development Authority, Certificates of Participation, Pride | 11/09 at 102.00 | N/R (4) | 5,621,900 | ||||
Industries and Pride One Inc., Series 1999, 7.250%, 11/01/29 (Pre-refunded 11/01/09) | ||||||||
10,900 | Los Angeles Unified School District, California, General Obligation Bonds, Series 1999C, | 7/09 at 101.00 | AAA | 11,501,680 | ||||
5.250%, 7/01/24 (Pre-refunded 7/01/09) MBIA Insured | ||||||||
Northern California Tobacco Securitization Authority, Tobacco Settlement Asset-Backed Bonds, | ||||||||
Series 2001A: | ||||||||
2,500 | 5.250%, 6/01/31 (Pre-refunded 6/01/11) | 6/11 at 100.00 | AAA | 2,685,650 | ||||
4,500 | 5.375%, 6/01/41 (Pre-refunded 6/01/11) | 6/11 at 100.00 | AAA | 4,857,435 | ||||
5,840 | Orange County Water District, California, Revenue Certificates of Participation, Series 1999A, | 8/09 at 101.00 | AA+ (4) | 6,176,559 | ||||
5.375%, 8/15/29 (ETM) | ||||||||
4,000 | Orange County Water District, California, Revenue Certificates of Participation, Series 1999A, | 8/09 at 101.00 | AA+ (4) | 4,241,720 | ||||
5.375%, 8/15/29 (Pre-refunded 8/15/09) | ||||||||
4,000 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2000, 5.750%, 7/01/16 | 7/10 at 100.00 | AAA | 4,298,600 | ||||
(Pre-refunded 7/01/10) MBIA Insured | ||||||||
24,060 | San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment | 8/08 at 102.00 | AAA | 25,015,903 | ||||
Project, Series 1998, 5.250%, 8/01/29 (Pre-refunded 8/01/08) AMBAC Insured | ||||||||
2,860 | Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed | 6/12 at 100.00 | AAA | 3,110,793 | ||||
Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2001A, 5.250%, | ||||||||
6/01/27 (Pre-refunded 6/01/12) | ||||||||
700 | University of California, Certificates of Participation, San Diego and Sacramento Campus | 1/10 at 101.00 | Aa2 (4) | 732,893 | ||||
Projects, Series 2002A, 5.250%, 1/01/22 (Pre-refunded 1/01/10) | ||||||||
6,000 | University of California, Revenue Bonds, Multiple Purpose Projects, Series 2000K, 5.000%, | 9/08 at 101.00 | AA (4) | 6,207,840 | ||||
9/01/12 (Pre-refunded 9/01/08) | ||||||||
University of California, Revenue Bonds, Multi-Purpose Projects, Series 2002O: | ||||||||
10,770 | 5.000%, 9/01/20 (Pre-refunded 9/01/10) FGIC Insured | 9/10 at 101.00 | AAA | 11,394,337 | ||||
11,305 | 5.000%, 9/01/21 (Pre-refunded 9/01/10) FGIC Insured | 9/10 at 101.00 | AAA | 11,960,350 | ||||
| ||||||||
127,085 | Total U.S. Guaranteed | 135,139,731 | ||||||
| ||||||||
Utilities 7.5% (5.1% of Total Investments) | ||||||||
3,630 | Imperial Irrigation District, California, Certificates of Participation, Electric System | 11/13 at 100.00 | AAA | 3,927,987 | ||||
Revenue Bonds, Series 2003, 5.250%, 11/01/23 FSA Insured | ||||||||
7,000 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series | 7/11 at 100.00 | AAA | 7,438,410 | ||||
2001A-1, 5.250%, 7/01/21 FSA Insured | ||||||||
8,370 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series | 7/11 at 100.00 | AAA | 8,998,169 | ||||
2001A-2, 5.375%, 7/01/19 MBIA Insured | ||||||||
5,500 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series | 7/15 at 100.00 | AAA | 5,914,810 | ||||
2005A-1, 5.000%, 7/01/31 FSA Insured | ||||||||
1,270 | Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, | 9/15 at 100.00 | AAA | 1,369,212 | ||||
9/01/31 XLCA Insured | ||||||||
| ||||||||
25,770 | Total Utilities | 27,648,588 | ||||||
| ||||||||
Water and Sewer 8.4% (5.8% of Total Investments) | ||||||||
9,165 | California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, | 12/11 at 100.00 | AAA | 9,812,691 | ||||
Series 2001W, 5.250%, 12/01/22 FSA Insured | ||||||||
875 | Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, | 4/16 at 100.00 | AAA | 941,509 | ||||
5.000%, 4/01/36 MBIA Insured | ||||||||
2,500 | Indio Water Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 4/01/31 AMBAC | 4/16 at 100.00 | AAA | 2,702,150 | ||||
Insured | ||||||||
835 | Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006, | 6/16 at 100.00 | AAA | 898,761 | ||||
5.000%, 6/01/31 MBIA Insured | ||||||||
8,250 | Pico Rivera Water Authority, California, Revenue Bonds, Series 2001A, 6.250%, 12/01/32 | 12/11 at 102.00 | N/R | 8,927,655 | ||||
2,250 | Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series | 6/16 at 100.00 | AAA | 2,440,305 | ||||
2006, 5.000%, 12/01/31 FGIC Insured | ||||||||
5,115 | San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, | 11/12 at 100.00 | AAA | 5,497,807 | ||||
Series 2002A, 5.000%, 11/01/18 MBIA Insured | ||||||||
| ||||||||
28,990 | Total Water and Sewer | 31,220,878 | ||||||
| ||||||||
$ 503,415 | Total Investments (cost $505,637,264) 145.4% | 539,376,715 | ||||||
|
| |||||||
Floating Rate Obligations (0,9%) | (3,403,000) | |||||||
| ||||||||
Other Assets Less Liabilities 2.7% | 9,966,559 | |||||||
| ||||||||
Preferred Shares, at Liquidation Value (47.2)% | (175,000,000) | |||||||
| ||||||||
Net Assets Applicable to Common Shares 100% | $ | 370,940,274 | ||||||
|
Forward Swaps outstanding at November 30, 2006: | ||||||||||||||||
Fund | Fixed Rate | Unrealized | ||||||||||||||
Notional | Pay/Receive | Floating Rate | Fixed Rate | Payment | Effective | Termination | Appreciation | |||||||||
Counterparty | Amount | Floating Rate | Index | (Annualized) | Frequency | Date (5) | Date | (Depreciation) | ||||||||
| ||||||||||||||||
JPMorgan | $44,000,000 | Receive | 3 Month USD-LIBOR | 5.547% | Semi-Annually | 7/10/07 | 7/10/11 | $(1,203,470) | ||||||||
JPMorgan | 14,500,000 | Pay | 3 Month USD-LIBOR | 5.813% | Semi-Annually | 7/10/07 | 7/10/27 | 1,340,775 | ||||||||
Morgan Stanley | 24,500,000 | Receive | 3 Month USD-LIBOR | 5.560% | Semi-Annually | 7/10/07 | 7/10/12 | (800,291) | ||||||||
Morgan Stanley | 31,200,000 | Pay | 3 Month USD-LIBOR | 5.691% | Semi-Annually | 7/10/07 | 7/10/37 | 2,931,659 | ||||||||
| ||||||||||||||||
$ 2,268,673 | ||||||||||||||||
| ||||||||||||||||
USD-LIBOR (United States Dollar-London Inter-Bank Offered Rate) |
Futures Contracts outstanding at November 30, 2006: | ||||||||||
Unrealized | ||||||||||
Contract | Number of | Contract | Value at | Appreciation | ||||||
Type | Position | Contracts | Expiration | November 30, 2006 | (Depreciation) | |||||
| ||||||||||
U.S. 10-Year Treasury Notes | Long | 49 | 3/07 | $5,350,188 | $24,736 | |||||
|
(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 BBB by Standard & | |
Poors Group or Baa by Moodys Investor Service, Inc. are considered to be below investment grade. | ||
(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) | Effective date represents the date on which both the Fund and counterparty commence interest payment | |
accruals on each forward swap contract. | ||
N/R | Not rated. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. | |
(ETM) | Escrowed to maturity. | |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the | |
provisions of SFAS No. 140. |
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 the treatment of paydown gains and losses, 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 SFAS No. 140.
At November 30, 2006, the cost of investments was $502,002,388.
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2006, were as follows:
| ||
Gross unrealized: | ||
Appreciation | $33,975,101 | |
Depreciation | | |
| ||
Net unrealized appreciation (depreciation) of investments | $33,975,101 | |
|
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 California Dividend Advantage Municipal Fund
By (Signature and Title)* /s/ Jessica R. Droeger
Jessica R. Droeger
Vice President and Secretary
Date January 29, 2007
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 January 29, 2007
By (Signature and Title)* /s/ Stephen D. Foy
Stephen D. Foy
Vice President and Controller (principal financial
officer)
Date January 29, 2007
* Print the name and title of each signing officer under his or her signature.