Investment Company Act file number 811-7492
Nuveen Insured California Premium Income Municipal Fund 2, Inc.
(Exact name of registrant as specified in charter)
333 West Wacker Drive, Chicago, Illinois, 60606
Address of principal executive offices) (Zip code)
Jessica R. Droeger—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: 08/31
Date of reporting period: 11/30/04
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 California Premium Income Municipal Fund 2, Inc. (NCL)
November 30, 2004
| Principal |
Optional Call |
Market |
||||
|---|---|---|---|---|---|---|
| Amount (000) |
Description(1) |
Provisions* |
Ratings** |
Value |
||
Education and Civic Organizations - 13.0% (8.8% of Total Investments) |
||||||
|
||||||
California Educational Facilities Authority, Revenue Bonds, Santa Clara University, Series 1996: |
||||||
| $ | 2,400 |
5.750%, 9/01/21 - MBIA Insured |
9/06 at 102.00 |
AAA |
$ 2,586,720 |
|
3,000 |
5.750%, 9/01/26 - MBIA Insured |
9/06 at 102.00 |
AAA |
3,211,800 |
||
2,000 |
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2000, |
11/10 at 100.00 |
Aaa |
2,256,460 |
||
5.875%, 11/01/20 - MBIA Insured |
||||||
2,125 |
California Educational Facilities Authority, Student Loan Revenue Bonds, Cal Loan Program, Series |
3/08 at 102.00 |
Aaa |
2,229,316 |
||
2001A, 5.400%, 3/01/21 (Alternative Minimum Tax) - MBIA Insured |
||||||
California Infrastructure Economic Development Bank, Revenue Bonds, Asian Art Museum of San |
||||||
Francisco, Series 2000: |
||||||
1,295 |
5.500%, 6/01/19 - MBIA Insured |
6/10 at 101.00 |
AAA |
1,432,128 |
||
1,000 |
5.500%, 6/01/20 - MBIA Insured |
6/10 at 101.00 |
AAA |
1,103,570 |
||
5,380 |
California State University, Systemwide Revenue Bonds, Series 2004A, 5.000%, 11/01/16 - FSA |
5/14 at 100.00 |
AAA |
5,831,597 |
||
Insured |
||||||
6,000 |
University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.000%, 5/15/27 - |
5/13 at 100.00 |
AAA |
6,113,820 |
||
AMBAC Insured |
||||||
Healthcare - 4.6% (3.1% of Total Investments) |
||||||
|
||||||
1,450 |
California Health Facilities Financing Authority, Insured Health Facility Revenue Refunding Bonds, |
7/06 at 102.00 |
AAA |
1,556,169 |
||
Mark Twain St. Joseph's Healthcare Corporation, Series 1996A, 6.000%, 7/01/19 - MBIA Insured |
||||||
5,000 |
California Health Facilities Financing Authority, Insured Health Facility Revenue Refunding Bonds, |
7/06 at 102.00 |
AAA |
5,359,150 |
||
Catholic Healthcare West, Series 1996A, 6.000%, 7/01/25 - MBIA Insured |
||||||
1,755 |
University of California, Hospital Revenue Bonds, UCLA Medical Center, Series 2004A, 5.500%, |
5/12 at 101.00 |
AAA |
1,934,905 |
||
5/15/18 - AMBAC Insured |
||||||
Housing/Multifamily - 2.9% (2.0% of Total Investments) |
||||||
|
||||||
ABAG Finance Authority for Non-Profit Corporations, California, Multifamily Housing Revenue Bonds, |
||||||
Civic Center Drive Apartments, Series 1999A: |
||||||
4,000 |
5.800%, 9/01/20 (Alternative Minimum Tax) - FSA Insured |
9/09 at 100.00 |
AAA |
4,194,000 |
||
1,370 |
5.875%, 3/01/32 (Alternative Minimum Tax) - FSA Insured |
9/09 at 100.00 |
AAA |
1,412,730 |
||
Housing/Single Family - 0.6% (0.4% of Total Investments) |
||||||
|
||||||
1,150 |
California Housing Finance Agency, Single Family Mortgage Bonds, Series 1997C-2-II, 5.625%, |
8/07 at 101.50 |
AAA |
1,195,517 |
||
8/01/20 (Alternative Minimum Tax) - MBIA Insured |
||||||
Tax Obligation/General - 28.0% (18.8% of Total Investments) |
||||||
|
||||||
1,460 |
ABC Unified School District, Los Angeles County, California, General Obligation Bonds, Series |
8/10 at 101.00 |
AAA |
1,649,566 |
||
2000B, 5.750%, 8/01/16 - FGIC Insured |
||||||
485 |
California, General Obligation Veterans Welfare Bonds, Series 1997BH, 5.500%, 12/01/24 |
12/04 at 101.00 |
AAA |
488,405 |
||
(Alternative Minimum Tax) - FSA Insured |
||||||
2,500 |
California, Various Purpose General Obligation Bonds, Series 1999, 5.500%, 9/01/24 - FSA Insured |
9/09 at 101.00 |
AAA |
2,710,425 |
||
California, Various Purpose General Obligation Bonds, Series 2000: |
||||||
7,995 |
5.750%, 3/01/22 - MBIA Insured |
3/10 at 101.00 |
AAA |
8,891,000 |
||
2,000 |
5.750%, 3/01/27 - MBIA Insured |
3/10 at 101.00 |
AAA |
2,184,820 |
||
4,400 |
California, General Obligation Bonds, Series 2003, 5.000%, 2/01/31 - MBIA Insured |
2/13 at 100.00 |
AAA |
4,445,276 |
||
3,000 |
California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.375%, 12/01/24 |
6/07 at 101.00 |
AAA |
3,055,500 |
||
(Alternative Minimum Tax) - MBIA Insured |
||||||
California, General Obligation Bonds, Series 2004: |
||||||
2,500 |
5.000%, 2/01/18 - AMBAC Insured |
2/14 at 100.00 |
AAA |
2,669,400 |
||
2,250 |
5.000%, 4/01/31 - AMBAC Insured |
4/14 at 100.00 |
AAA |
2,275,785 |
||
Fresno Unified School District, Fresno County, California, General Obligation Bonds, Series 2001F: |
||||||
1,065 |
5.125%, 8/01/21 - FSA Insured |
8/09 at 102.00 |
AAA |
1,145,706 |
||
1,160 |
5.125%, 8/01/22 - FSA Insured |
8/09 at 102.00 |
AAA |
1,248,357 |
||
1,220 |
5.125%, 8/01/23 - FSA Insured |
8/09 at 102.00 |
AAA |
1,309,829 |
||
1,500 |
Hacienda La Puente Unified School District, Los Angeles County, California, General Obligation |
8/10 at 101.00 |
AAA |
1,581,420 |
||
Bonds, Series 2000A, 5.250%, 8/01/25 - MBIA Insured |
||||||
Kern Community College District, California, General Obligation Bonds, Series 2003A: |
||||||
3,655 |
5.000%, 11/01/20 - FGIC Insured |
11/13 at 100.00 |
AAA |
3,874,739 |
||
2,665 |
5.000%, 11/01/21 - FGIC Insured |
11/13 at 100.00 |
AAA |
2,808,963 |
||
1,750 |
Lake Tahoe Unified School District, El Dorado County, California, General Obligation Bonds, Series |
8/09 at 100.00 |
AAA |
1,862,473 |
||
1999A, 5.250%, 8/01/24 - FGIC Insured |
||||||
2,200 |
Los Angeles Unified School District, California, General Obligation Bonds, Series 2003F, 5.000%, |
7/13 at 100.00 |
AAA |
2,357,652 |
||
7/01/17 - FSA Insured |
||||||
Manteca Unified School District, San Joaquin County, California, General Obligation Bonds, Series |
||||||
2004: |
||||||
1,000 |
5.250%, 8/01/21 - FSA Insured |
8/14 at 100.00 |
AAA |
1,087,240 |
||
1,000 |
5.250%, 8/01/22 - FSA Insured |
8/14 at 100.00 |
AAA |
1,080,610 |
||
1,270 |
Merced City School District, Merced County, California, General Obligation Bonds, Series 2004, |
8/13 at 100.00 |
AAA |
1,329,487 |
||
5.000%, 8/01/22 - FGIC Insured |
||||||
1,125 |
San Diego Unified School District, California, General Obligation Bonds, Election of 1998, Series |
No Opt. Call |
AAA |
493,920 |
||
1999A, 0.000%, 7/01/21 - FGIC Insured |
||||||
2,000 |
San Francisco Community College District, California, General Obligation Bonds, Series 2002A, |
6/10 at 102.00 |
Aaa |
2,042,140 |
||
5.000%, 6/15/26 - FGIC Insured |
||||||
2,445 |
Washington Unified School District, Yolo County, California, General Obligation Bonds, Series |
8/13 at 100.00 |
AAA |
2,573,949 |
||
2004A, 5.000%, 8/01/21 - FGIC Insured |
||||||
Tax Obligation/Limited - 45.9% (30.9% of Total Investments) |
||||||
|
||||||
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement |
||||||
Project, Series 1997C: |
||||||
5,130 |
0.000%, 9/01/18 - FSA Insured |
No Opt. Call |
AAA |
2,652,210 |
||
8,000 |
0.000%, 9/01/21 - FSA Insured |
No Opt. Call |
AAA |
3,449,440 |
||
California Infrastructure Economic Development Bank, Revenue Bonds, North County Center for |
||||||
Self-Sufficiency Corporation, Series 2004: |
||||||
1,535 |
5.000%, 12/01/20 - AMBAC Insured |
12/13 at 100.00 |
AAA |
1,620,960 |
||
1,780 |
5.000%, 12/01/23 - AMBAC Insured |
12/13 at 100.00 |
AAA |
1,848,619 |
||
3,500 |
California Department of Transportation, Federal Highway Grant Anticipation Bonds, Series 2004A, |
No Opt. Call |
AAA |
3,843,595 |
||
5.000%, 2/01/15 - FGIC Insured |
||||||
3,450 |
California State Public Works Board, Lease Revenue Bonds, Department of Health Services, Series |
11/09 at 101.00 |
AAA |
3,795,587 |
||
1999A, 5.750%, 11/01/24 - MBIA Insured |
||||||
5,000 |
Compton Community Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Area |
8/05 at 102.00 |
AAA |
5,243,400 |
||
Redevelopment Projects, Series 1995A, 6.500%, 8/01/13 - FSA Insured |
||||||
4,000 |
Contra Costa County, California, Refunding Certificates of Participation, Merrithew Memorial |
11/07 at 102.00 |
AAA |
4,341,240 |
||
Hospital Replacement Project, Series 1997, 5.500%, 11/01/22 - MBIA Insured |
||||||
6,000 |
El Monte, California, Senior Lien Certificates of Participation, Department of Public Services |
1/11 at 100.00 |
AAA |
6,207,960 |
||
Facility Phase II, Series 2001, 5.000%, 1/01/21 - AMBAC Insured |
||||||
3,000 |
Galt Schools Joint Powers Authority, Sacramento County, California, Revenue Refunding Bonds, High |
11/07 at 102.00 |
AAA |
3,325,560 |
||
School and Elementary School Facilities, Series 1997A, 5.875%, 11/01/24 - MBIA Insured |
||||||
5,000 |
Kern County Board of Education, California, Refunding Certificates of Participation, Series 1998A, |
5/08 at 102.00 |
AAA |
5,162,850 |
||
5.200%, 5/01/28 - MBIA Insured |
||||||
5,000 |
La Quinta Redevelopment Agency, California, Tax Allocation Refunding Bonds, Redevelopment Project |
9/07 at 102.00 |
AAA |
5,163,250 |
||
Area 1, Series 1998, 5.200%, 9/01/28 - AMBAC Insured |
||||||
4,000 |
Los Angeles, California, Certificates of Participation, Municipal Improvement Corporation, Series |
6/13 at 100.00 |
AAA |
4,026,160 |
||
2003AW, 5.000%, 6/01/33 - AMBAC Insured |
||||||
1,000 |
Los Angeles Community Redevelopment Agency, California, Tax Allocation Bonds, Bunker Hill Project, |
12/14 at 100.00 |
AAA |
1,061,020 |
||
Series 2004A, 5.000%, 12/01/20 - FSA Insured |
||||||
3,865 |
Los Angeles County Metropolitan Transportation Authority, California, Proposition C Second Senior |
7/10 at 101.00 |
AAA |
4,007,966 |
||
Lien Sales Tax Revenue Bonds, Series 2000A, 5.250%, 7/01/30 - FGIC Insured |
||||||
1,250 |
Los Angeles County Metropolitan Transportation Authority, California, Proposition A First Tier |
7/13 at 100.00 |
AAA |
1,328,363 |
||
Senior Sales Tax Revenue Bonds, Series 2003B, 5.000%, 7/01/19 - MBIA Insured |
||||||
2,690 |
Norwalk Community Facilities Financing Authority, Los Angeles County, California, Tax Allocation |
9/05 at 102.00 |
AAA |
2,816,322 |
||
Revenue Refunding Bonds, Series 1995A, 6.000%, 9/01/15 - FSA Insured |
||||||
2,780 |
Pittsburg Redevelopment Agency, California, Tax Allocation Refunding Bonds, Los Medanos Community |
No Opt. Call |
AAA |
3,061,586 |
||
Development Project, Series 2003A, 5.000%, 8/01/12 - MBIA Insured |
||||||
4,140 |
Plumas County, California, Certificates of Participation, Capital Improvement Program, Series |
6/13 at 101.00 |
AAA |
4,194,689 |
||
2003A, 5.000%, 6/01/28 - AMBAC Insured |
||||||
2,000 |
Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment |
12/10 at 102.00 |
AAA |
2,199,720 |
||
Project, Series 2000, 5.750%, 6/15/33 - MBIA Insured |
||||||
1,000 |
Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities |
9/13 at 100.00 |
AAA |
1,030,300 |
||
District 1, Series 2004, 5.000%, 9/01/25 - MBIA Insured |
||||||
5,000 |
San Bernardino Joint Powers Financing Authority, California, Certificates of Participation |
9/09 at 102.00 |
AAA |
5,525,150 |
||
Refunding, Police Station Financing Project, Series 1999, 5.500%, 9/01/20 - MBIA Insured |
||||||
3,500 |
San Francisco Bay Area Rapid Transit District, California, Sales Tax Revenue Bonds, Series 1999, |
7/09 at 101.00 |
AAA |
3,737,790 |
||
5.500%, 7/01/34 - FGIC Insured |
||||||
1,930 |
Santa Margarita/Dana Point Authority, Orange County, California, Refinancing Revenue Bonds, |
No Opt. Call |
AAA |
1,996,797 |
||
Improvement Districts 1, 2, 2A and 8, Series 1994A, 7.250%, 8/01/05 - MBIA Insured |
||||||
5,450 |
Visalia, California, Certificates of Participation Refunding, Motor Vehicle License Fee |
12/06 at 102.00 |
AAA |
5,768,117 |
||
Enhancement, Series 1996A, 5.375%, 12/01/26 - MBIA Insured |
||||||
Transportation - 6.6% (4.5% of Total Investments) |
||||||
|
||||||
6,500 |
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, |
1/10 at 65.32 |
AAA |
3,280,680 |
||
Series 1999, 0.000%, 1/15/18 - MBIA Insured |
||||||
4,000 |
Orange County Transportation Authority, California, Toll Road Revenue Bonds, 91 Express Lanes |
8/13 at 100.00 |
AAA |
4,274,760 |
||
Project, Series 2003A, 5.000%, 8/15/18 - AMBAC Insured |
||||||
5,000 |
San Francisco Airports Commission, California, Revenue Refunding Bonds, San Francisco International |
5/11 at 100.00 |
AAA |
5,077,300 |
||
Airport, Second Series 2001, Issue 27A, 5.250%, 5/01/31 (Alternative Minimum Tax) - MBIA Insured |
||||||
U.S. Guaranteed *** - 10.4% (7.0% of Total Investments) |
||||||
|
||||||
2,575 |
Calipatria Unified School District, Imperial County, California, General Obligation Bonds, Series |
8/06 at 102.00 |
AAA |
2,772,271 |
||
1996A, 5.625%, 8/01/13 (Pre-refunded to 8/01/06) - AMBAC Insured |
||||||
2,865 |
Central Unified School District, Fresno County, California, General Obligation Bonds, Series 1993, |
3/05 at 100.00 |
AAA |
2,930,866 |
||
5.625%, 3/01/18 - AMBAC Insured |
||||||
3,000 |
Escondido Union High School District, San Diego County, California, General Obligation Bonds, |
11/06 at 102.00 |
AAA |
3,202,770 |
||
Series 1996, 5.700%, 11/01/10 - MBIA Insured |
||||||
1,890 |
Menifee Union School District, Riverside County, California, Certificates of Participation, School |
9/06 at 102.00 |
AAA |
2,055,640 |
||
Projects, Series 1996, 6.125%, 9/01/24 (Pre-refunded to 9/01/06) - FSA Insured |
||||||
2,500 |
Oakland, California, Insured Revenue Bonds, 1800 Harrison Foundation - Kaiser Permanente, Series |
1/10 at 100.00 |
AAA |
2,865,875 |
||
1999A, 6.000%, 1/01/29 (Pre-refunded to 1/01/10) - AMBAC Insured |
||||||
4,320 |
Riverside County, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage |
No Opt. Call |
AAA |
6,028,171 |
||
Revenue Bonds, Series 1987B, 8.625%, 5/01/16 (Alternative Minimum Tax) |
||||||
Utilities - 12.1% (8.2% of Total Investments) |
||||||
|
||||||
3,740 |
California Pollution Control Financing Authority, Revenue Refunding Bonds, Southern California |
9/09 at 101.00 |
AAA |
3,928,047 |
||
Edison Company, Series 1999B, 5.450%, 9/01/29 - MBIA Insured |
||||||
3,215 |
Modesto Irrigation District, California, Revenue Refunding Bonds, Series 1996A, 6.000%, 10/01/15 - |
10/06 at 102.00 |
AAA |
3,483,420 |
||
MBIA Insured |
||||||
3,500 |
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2002II, 5.125%, 7/01/26 - FSA |
7/12 at 101.00 |
AAA |
3,660,055 |
||
Insured |
||||||
1,790 |
Sacramento City Financing Authority, California, Capital Improvement Revenue Bonds, Solid Waste and |
12/09 at 102.00 |
AAA |
2,029,305 |
||
Redevelopment Projects, Series 1999, 5.800%, 12/01/19 - AMBAC Insured |
||||||
1,950 |
Salinas Valley Solid Waste Authority, California, Revenue Bonds, Series 2002, 5.250%, 8/01/27 |
8/12 at 100.00 |
AAA |
2,003,099 |
||
(Alternative Minimum Tax) - AMBAC Insured |
||||||
Santa Clara, California, Subordinate Electric Revenue Bonds, Series 2003A: |
||||||
2,800 |
5.000%, 7/01/24 - MBIA Insured |
7/13 at 100.00 |
AAA |
2,891,644 |
||
5,000 |
5.000%, 7/01/28 - MBIA Insured |
7/13 at 100.00 |
AAA |
5,085,350 |
||
Water and Sewer - 24.1% (16.3% of Total Investments) |
||||||
|
||||||
1,700 |
Castaic Lake Water Agency, California, Revenue Certificates of Participation, Series 2004A, |
8/14 at 100.00 |
AAA |
1,800,827 |
||
5.000%, 8/01/20 - AMBAC Insured |
||||||
2,975 |
Chino Basin Regional Finance Authority, California, Sewerage System Revenue Bonds, Inland Empire |
2/05 at 102.00 |
AAA |
3,043,455 |
||
Utilities Agency, Series 1994, 6.000%, 8/01/16 - AMBAC Insured |
||||||
2,000 |
El Dorado Irrigation District, California, Water and Sewer Certificates of Participation, Series |
3/14 at 100.00 |
AAA |
2,101,920 |
||
2004A, 5.000%, 3/01/21 - FGIC Insured |
||||||
2,700 |
Los Angeles County Sanitation Districts Financing Authority, California, Senior Revenue Bonds, |
10/13 at 100.00 |
AAA |
2,844,666 |
||
Capital Projects, Series 2003A, 5.000%, 10/01/21 - FSA Insured |
||||||
12,000 |
Orange County Sanitation District, California, Certificates of Participation, Series 2003, 5.000%, |
8/13 at 100.00 |
AAA |
12,078,960 |
||
2/01/33 - FGIC Insured |
||||||
2,775 |
Pomona Public Financing Authority, California, Revenue Bonds, Water Facilities Project, Series |
5/09 at 101.00 |
AAA |
2,971,581 |
||
1999AC, 5.500%, 5/01/29 - FGIC Insured |
||||||
1,000 |
Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2000A, |
12/10 at 101.00 |
AAA |
1,105,890 |
||
5.500%, 12/01/20 - AMBAC Insured |
||||||
750 |
Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2004A, |
12/14 at 100.00 |
AAA |
794,505 |
||
5.000%, 12/01/21 - AMBAC Insured |
||||||
1,520 |
San Buenaventura, California, Water Revenue Certificates of Participation, Series 2004, 5.000%, |
10/14 at 100.00 |
AAA |
1,562,119 |
||
10/01/25 - AMBAC Insured |
||||||
3,675 |
San Dieguito Water District, California, Water Revenue Bonds, Series 2004, 5.000%, 10/01/23 - FGIC |
10/14 at 100.00 |
AAA |
3,844,822 |
||
Insured |
||||||
Santa Clara Valley Water District, California, Certificates of Participation, Series 2004A: |
||||||
1,400 |
5.000%, 2/01/19 - FGIC Insured |
2/14 at 100.00 |
AAA |
1,486,072 |
||
445 |
5.000%, 2/01/20 - FGIC Insured |
2/14 at 100.00 |
AAA |
470,276 |
||
465 |
5.000%, 2/01/21 - FGIC Insured |
2/14 at 100.00 |
AAA |
488,524 |
||
2,130 |
Santa Rosa, Sonoma County, California, Wastewater Revenue Bonds, Series 2004B, 5.000%, 9/01/18 - |
9/14 at 100.00 |
AAA |
2,290,687 |
||
FGIC Insured |
||||||
2,000 |
South San Joaquin Irrigation District, San Joaquin County, California, Revenue Refunding |
1/05 at 100.00 |
AAA |
2,005,380 |
||
Certificates of Participation, Series 1993, 5.500%, 1/01/15 - AMBAC Insured |
||||||
2,500 |
West Basin Municipal Water District, California, Revenue Certificates of Participation, Series |
8/13 at 100.00 |
AAA |
2,521,725 |
||
2003A, 5.000%, 8/01/30 - MBIA Insured |
||||||
Yorba Linda Water District, California, Certificates of Participation, Highland Reservoir |
||||||
Renovation, Series 2003: |
||||||
2,010 |
5.000%, 10/01/28 - FGIC Insured |
10/13 at 100.00 |
AAA |
2,045,054 |
||
2,530 |
5.000%, 10/01/33 - FGIC Insured |
10/13 at 100.00 |
AAA |
2,561,372 |
||
| $ | 277,790 |
Total Long-Term Investments (cost $268,045,963) - 148.2% |
282,580,283 |
|||
Other Assets Less Liabilities - 1.6% |
3,105,874 |
|||||
Preferred Shares, at Liquidation Value - (49.8)% |
(95,000,000) |
|||||
Net Assets Applicable to Common Shares - 100% |
$190,686,157 |
|||||
|
All of the bonds in the portfolio are either covered by Original Issue Insurance, Secondary Market Insurance or |
||
Portfolio Insurance, or are backed by an escrow or trust containing sufficient U.S. Government or U.S. |
|||
Government agency securities, any of which ensure the timely payment of principal and interest. |
|||
(1) |
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares |
||
unless otherwise noted. |
|||
* |
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. |
|||
** |
Ratings: Using the higher of Standard & Poor's or Moody's rating. |
||
*** |
Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency |
||
securities which ensures the timely payment of principal and interest. |
|||
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 income |
|||
on taxable market discount securities and timing differences in recognizing certain gains and losses on |
|||
security transactions. |
|||
At November 30, 2004, the cost of investments was $267,879,972. |
|||
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2004, |
|||
were as follows: |
|||
Gross unrealized: |
|||
Appreciation |
$15,127,148 |
||
Depreciation |
(426,837) |
||
Net unrealized appreciation of investments |
$14,700,311 |
||
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 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 California Premium Income Municipal Fund 2, Inc.
By (Signature and Title)* /s/ Jessica R. Droeger--Vice President and Secretary
Date 01/28/05
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--Chief Administrative Officer (Principal Executive Officer)
Date 01/28/05
By (Signature and Title)* /s/ Stephen D. Foy--Vice President and Controller (Principal Financial Officer)
Date 01/28/05
* Print the name and title of each signing officer under his or her signature.