Unassociated Document



 
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 811-09161
 
Nuveen California Dividend Advantage Municipal Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            2/28          
 
Date of reporting period:         11/30/09         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


 
 
 


 

Item 1. Schedule of Investments
 

  Portfolio of Investments (Unaudited)      
      Nuveen California Dividend Advantage Municipal Fund (NAC)      
  November 30, 2009      
Principal   Optional Call    
Amount (000) Description (1) Provisions (2) Ratings (3) Value
  Consumer Staples – 6.6% (4.4% of Total Investments)      
$      990  California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma  6/15 at 100.00  BBB  $    926,135 
  County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21       
7,500  Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement  6/17 at 100.00  BBB  5,421,600 
  Asset-Backed Bonds, Series 2007A-1, 5.750%, 6/01/47       
24,265  Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement  6/22 at 100.00  BBB  14,709,927 
  Asset-Backed Bonds, Series 2007A-2, 0.000%, 6/01/37       
32,755  Total Consumer Staples      21,057,662 
  Education and Civic Organizations – 6.9% (4.6% of Total Investments)      
290  California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series  10/15 at 100.00  A3  271,620 
  2005A, 5.000%, 10/01/35       
10,000  California Educational Facilities Authority, Revenue Bonds, University of Southern California,  10/17 at 100.00  AA+  9,661,600 
  Series 2007A, 4.500%, 10/01/33 (UB)       
  California Educational Facilities Authority, Revenue Bonds, University of the Pacific,       
  Series 2006:       
200  5.000%, 11/01/21  11/15 at 100.00  A2  207,484 
265  5.000%, 11/01/25  11/15 at 100.00  A2  268,238 
4,685  California State Public Works Board, Lease Revenue Bonds, University of California Regents,  3/18 at 100.00  Aa2  4,420,953 
  Trust 1065, 9.236%, 3/01/33 (IF)       
615  California Statewide Community Development Authority, Revenue Bonds, Notre Dame de Namur  10/13 at 100.00  N/R  539,952 
  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  BBB  3,057,780 
  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,  5/13 at 100.00  Aa1  3,849,265 
  5.125%, 5/15/17 – AMBAC Insured (UB)       
22,555  Total Education and Civic Organizations      22,276,892 
  Health Care – 26.2% (17.5% of Total Investments)      
2,160  California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist  3/13 at 100.00  A  2,224,930 
  Health System/West, Series 2003A, 5.000%, 3/01/15       
660  California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System,  4/16 at 100.00  A+  603,999 
  Series 2006, 5.000%, 4/01/37       
10,000  California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A,  11/16 at 100.00  Aa3  9,143,800 
  5.000%, 11/15/42 – NPFG Insured       
14,895  California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A,  11/16 at 100.00  Aa3  14,053,581 
  5.250%, 11/15/46 (UB)       
1,120  California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System  3/15 at 100.00  A  1,010,094 
  West, Series 2005A, 5.000%, 3/01/35       
1,586  California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health  7/18 at 100.00  AAA  1,618,386 
  System, Trust 2554, 18.284%, 7/01/47 – FSA Insured (IF)       
  California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health       
  System, Series 2007A:       
900  4.800%, 7/15/17  No Opt. Call  N/R  847,755 
3,325  5.125%, 7/15/31  7/17 at 100.00  N/R  2,679,352 
19,420  California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System,  3/16 at 100.00  A+  17,575,876 
  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+  3,012,766 
  Series 2001C, 5.250%, 8/01/31       
9,980  California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System,  3/16 at 100.00  AAA  9,839,482 
  Series 2006, 5.000%, 3/01/41 – BHAC Insured (UB)       
2,250  California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital  8/19 at 100.00  AA  2,413,148 
  Project, Series 2009, 6.750%, 2/01/38       
10,500  Duarte, California, Certificates of Participation, City of Hope National Medical Center,  4/10 at 100.50  A+  10,301,130 
  Series 1999A, 5.250%, 4/01/31       
2,860  Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series  12/17 at 100.00  BBB  3,144,170 
  2008A, 8.250%, 12/01/38       
2,570  Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical  7/17 at 100.00  A3  2,341,090 
  Center, Series 2007A, 5.000%, 7/01/38       
3,000  Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital,  8/17 at 100.00  A+  3,052,710 
  Series 2007A, 5.750%, 2/01/41 – AMBAC Insured       
88,321  Total Health Care      83,862,269 
  Housing/Multifamily – 2.3% (1.5% of Total Investments)      
4,895  Contra Costa County, California, Multifamily Housing Revenue Bonds, Delta View Apartments  12/09 at 102.00  N/R  4,402,906 
  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  269,574 
  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+  1,652,395 
  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  1,072,389 
  Mobile Home Park, Series 2003B, 6.625%, 9/15/38       
8,060  Total Housing/Multifamily      7,397,264 
  Housing/Single Family – 0.7% (0.4% of Total Investments)      
1,670  California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2008, Trust  2/17 at 100.00  AA–  1,539,339 
  3137, 14.679%, 8/01/37 (Alternative Minimum Tax) (IF)       
655  California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%,  2/16 at 100.00  AA–  680,257 
  8/01/30 – FGIC Insured (Alternative Minimum Tax)       
2,325  Total Housing/Single Family      2,219,596 
  Industrials – 1.6% (1.1% of Total Investments)      
2,000  California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste  1/16 at 102.00  BBB  1,893,860 
  Management Inc., Series 2002A, 5.000%, 1/01/22 (Alternative Minimum Tax)       
5,120  California Statewide Communities Development Authority, Revenue Bonds, EnerTech Regional  No Opt. Call  BB  3,380,378 
  Biosolids Project, Series 2007A, 5.500%, 12/01/33 (Alternative Minimum Tax)       
7,120  Total Industrials      5,274,238 
  Long-Term Care – 2.5% (1.7% of Total Investments)      
1,000  California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series  11/19 at 100.00  Ba1  1,004,710 
  2009, 8.000%, 11/01/29 (WI/DD, Settling 12/16/09)       
8,500  Riverside County Public Financing Authority, California, Certificates of Participation, Air  5/10 at 100.50  BB+  7,072,170 
  Force Village West, Series 1999, 5.800%, 5/15/29       
9,500  Total Long-Term Care      8,076,880 
  Tax Obligation/General – 12.1% (8.1% of Total Investments)      
10,000  California, General Obligation Bonds, Various Purpose Series 2009, 6.000%, 11/01/39  11/19 at 100.00  A  10,173,600 
4,435  California, General Obligation Refunding Bonds, Series 2002, 6.000%, 4/01/16 – AMBAC Insured  No Opt. Call  A  5,050,489 
3,425  Coast Community College District, Orange County, California, General Obligation Bonds, Series  8/18 at 100.00  AAA  2,867,581 
  2006C, 0.000%, 8/01/31 – FSA Insured       
5,150  Hacienda La Puente Unified School District Facilities Financing Authority, California, General  No Opt. Call  AAA  5,765,219 
  Obligation Revenue Bonds, Series 2007, 5.000%, 8/01/26 – FSA Insured       
5,210  Oak Valley Hospital District, Stanislaus County, California, General Obligation Bonds, Series  7/14 at 101.00  A3  4,915,687 
  2005, 5.000%, 7/01/35 – FGIC Insured       
575  Roseville Joint Union High School District, Placer County, California, General Obligation  8/15 at 100.00  AA–  592,400 
  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  5,626,500 
  Series 2003E, 5.250%, 7/01/20 – FSA Insured       
3,605  West Contra Costa Unified School District, Contra Costa County, California, General Obligation  8/11 at 101.00  AAA  3,817,767 
  Bonds, Series 2003B, 5.000%, 8/01/21 – FSA Insured       
37,400  Total Tax Obligation/General      38,809,243 
  Tax Obligation/Limited – 33.6% (22.4% 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  926,480 
615  5.800%, 9/01/35  9/14 at 102.00  N/R  543,353 
1,990  Borrego Water District, California, Community Facilities District 2007-1 Montesoro, Special  8/17 at 102.00  N/R  1,724,653 
  Tax Bonds, Series 2007, 5.750%, 8/01/25       
1,990  Brentwood Infrastructure Financing Authority, California, Infrastructure Revenue Refunding  9/12 at 100.00  AAA  2,048,625 
  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  1,175,601 
1,165  5.375%, 11/01/19 – FSA Insured  11/11 at 100.00  AAA  1,233,852 
1,000  California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series  10/19 at 100.00  A–  979,710 
  2009G-1, 5.750%, 10/01/30       
2,000  California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series  11/19 at 100.00  A–  2,013,740 
  2009I-1, 6.375%, 11/01/34 (WI/DD, Settling 12/01/09)       
2,000  Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community  9/13 at 100.00  N/R  1,856,820 
  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  A  687,621 
  Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured       
1,225  Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation  9/16 at 101.00  BBB  1,047,645 
  Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured       
3,490  Fontana, California, Senior Special Tax Refunding Bonds, Heritage Village Community Facilities  3/10 at 101.00  A  3,514,221 
  District 2, Series 1998A, 5.250%, 9/01/17 – NPFG Insured       
1,125  Fontana, California, Special Tax Bonds, Sierra Community Facilities District 22, Series 2004,  9/14 at 100.00  N/R  960,739 
  6.000%, 9/01/34       
3,980  Garden Grove, California, Certificates of Participation, Financing Project, Series 2002A,  3/12 at 101.00  A  4,104,057 
  5.500%, 3/01/22 – AMBAC Insured       
32,590  Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed  6/15 at 100.00  A–  28,746,984 
  Revenue Bonds, Series 2005A, 5.000%, 6/01/35 – FGIC Insured       
2,850  Hesperia Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2005A,  9/15 at 100.00  Baa1  2,232,975 
  5.000%, 9/01/35 – SYNCORA GTY Insured       
4,500  Inglewood Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Area  No Opt. Call  N/R  4,400,235 
  Redevelopment Project, Series 1998A, 5.250%, 5/01/23 – AMBAC Insured       
  Irvine, California, Unified School District, Community Facilities District Special Tax Bonds,       
  Series 2006A:       
325  5.000%, 9/01/26  9/16 at 100.00  N/R  284,375 
755  5.125%, 9/01/36  9/16 at 100.00  N/R  620,776 
675  Lammersville School District, San Joaquin County, California, Community Facilities District  9/16 at 100.00  N/R  508,687 
  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  1,838,060 
  District 1 of Sycamore Creek, Series 2003, 6.500%, 9/01/24       
1,000  Lindsay Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2007, 5.000%,  8/17 at 100.00  BBB+  776,810 
  8/01/37 – RAAI Insured       
1,290  Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social  9/15 at 100.00  A2  1,107,272 
  Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured       
1,750  Los Angeles County Metropolitan Transportation Authority, California, Proposition C Second  1/10 at 100.00  A1  1,751,453 
  Senior Lien Sales Tax Revenue Refunding Bonds, Series 1998A, 5.000%, 7/01/23 – AMBAC Insured       
1,530  Moreno Valley Unified School District, Riverside County, California, Certificates of  3/14 at 100.00  AAA  1,570,943 
  Participation, Series 2005, 5.000%, 3/01/24 – FSA Insured       
3,500  Murrieta Redevelopment Agency, California, Tax Allocation Bonds, Series 2007A, 5.000%,  8/17 at 100.00  A  3,004,855 
  8/01/37 – NPFG Insured       
9,200  Norco Redevelopment Agency, California, Tax Allocation Refunding Bonds, Project Area 1, Series  3/11 at 102.00  A  9,371,948 
  2001, 5.000%, 3/01/19 – NPFG Insured       
  North Natomas Community Facilities District 4, Sacramento, California, Special Tax Bonds,       
  Series 2006D:       
545  5.000%, 9/01/26  9/14 at 102.00  N/R  453,467 
250  5.000%, 9/01/33  9/14 at 102.00  N/R  195,118 
3,290  Oakland Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Central  3/13 at 100.00  A  3,448,743 
  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  A  5,635,000 
  Project, Series 2001A, 5.000%, 11/01/22 – NPFG Insured       
1,000  Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged  12/14 at 100.00  A–  987,540 
  Redevelopment Project Areas, Series 2004, 5.000%, 12/01/24 – AMBAC Insured       
1,570  Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment  12/10 at 102.00  AA  1,551,992 
  Project, Series 2000, 5.750%, 6/15/33 – NPFG Insured       
620  Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series  9/15 at 100.00  A–  540,615 
  2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured       
1,860  Riverside Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Project  8/13 at 100.00  A  1,874,713 
  Areas, Series 2003, 5.250%, 8/01/22 – NPFG Insured       
770  Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%,  8/13 at 100.00  AA–  759,259 
  8/01/25 – AMBAC Insured       
2,500  Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A,  No Opt. Call  A  2,638,400 
  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  1,005,652 
  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  AA+  2,889,336 
  Series 2002B, 5.250%, 6/01/19 – AMBAC Insured       
1,000  Washington Unified School District, Yolo County, California, Certificates of Participation,  8/17 at 100.00  BBB+  921,650 
  Series 2007, 5.125%, 8/01/37 – AMBAC Insured       
600  West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities  9/14 at 105.00  N/R  633,528 
  District 01-1, Refunding Series 2009A, 8.625%, 9/01/39       
2,810  West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities  9/13 at 103.00  N/R  2,428,121 
  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  1,505,200 
  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  1,034,640 
  District 2001-1, Series 2004A, 6.125%, 9/01/39       
114,975  Total Tax Obligation/Limited      107,535,464 
  Transportation – 20.4% (13.6% 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  1,459,472 
  2006F, 5.000%, 4/01/31 (UB)       
830  Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series  4/18 at 100.00  AA  913,332 
  2008, Trust 3211, 13.319%, 4/01/39 (IF)       
8,150  Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding  1/10 at 101.00  BBB–  7,518,864 
  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  AA  8,924,146 
  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  107,822 
  Bonds, Series 2006, 5.450%, 7/01/20 (Alternative Minimum Tax)       
22,825  Port of Oakland, California, Revenue Bonds, Series 2000K, 5.750%, 11/01/29 – FGIC Insured  5/10 at 100.00  A1  22,842,346 
23,275  San Francisco Airports Commission, California, Revenue Bonds, San Francisco International  5/10 at 101.00  AAA  23,553,135 
  Airport, Second Series 2000, Issue 24A, 5.750%, 5/01/30 – FSA Insured (Alternative Minimum Tax)       
65,145  Total Transportation      65,319,117 
  U.S. Guaranteed – 26.5% (17.7% of Total Investments) (4)      
9,750  California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.125%,  5/12 at 101.00  Aaa  10,874,565 
  5/01/18 (Pre-refunded 5/01/12)       
115  California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,  12/11 at 100.00  AAA  125,739 
  Series 2001W, 5.250%, 12/01/22 (Pre-refunded 12/01/11) – FSA Insured       
8,400  California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System,  4/10 at 100.50  AAA  8,552,124 
  Series 1998B, 5.250%, 10/01/14 (ETM)       
715  California Statewide Community Development Authority, Revenue Bonds, Thomas Jefferson School  10/15 at 100.00  N/R (4)  796,052 
  of Law, Series 2005A, 4.875%, 10/01/31 (Pre-refunded 10/01/15)       
4,370  Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed  6/13 at 100.00  AAA  4,878,187 
  Bonds, Series 2003A-1, 6.250%, 6/01/33 (Pre-refunded 6/01/13)       
1,940  Lincoln, California, Special Tax Bonds, Lincoln Crossing Community Facilities District 03-1,  9/13 at 102.00  N/R (4)  2,349,553 
  Series 2003A, 6.500%, 9/01/25 (Pre-refunded 9/01/13)       
1,335  Lincoln, California, Special Tax Bonds, Lincoln Crossing Community Facilities District 03-1,  9/13 at 102.00  N/R (4)  1,592,441 
  Series 2004, 6.000%, 9/01/34 (Pre-refunded 9/01/13)       
10,845  Los Angeles Unified School District, California, General Obligation Bonds, Series 2002E,  7/12 at 100.00  AA– (4)  12,039,468 
  5.000%, 7/01/19 (Pre-refunded 7/01/12) – 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  2,675,400 
4,500  5.375%, 6/01/41 (Pre-refunded 6/01/11)  6/11 at 100.00  AAA  4,824,135 
5,840  Orange County Water District, California, Revenue Certificates of Participation, Series 1999A,  8/10 at 100.00  AAA  6,335,174 
  5.375%, 8/15/29 (ETM)       
175  Port of Oakland, California, Revenue Bonds, Series 2000K, 5.750%, 11/01/29 (Pre-refunded  5/10 at 100.00  A1 (4)  178,442 
  5/01/10) – FGIC Insured       
6,530  Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment  12/10 at 102.00  N/R (4)  7,031,635 
  Project, Series 2000, 5.750%, 6/15/33 (Pre-refunded 12/15/10) – MBIA Insured       
4,000  Puerto Rico, General Obligation and Public Improvement Bonds, Series 2000, 5.750%, 7/01/16  7/10 at 100.00  A (4)  4,127,200 
  (Pre-refunded 7/01/10) – NPFG Insured       
2,860  Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed  6/12 at 100.00  AAA  3,167,822 
  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  Aa1 (4)  710,024 
  Projects, Series 2002A, 5.250%, 1/01/22 (Pre-refunded 1/01/10)       
11,305  University of California, Revenue Bonds, Multi-Purpose Projects, Series 2002O, 5.000%, 9/01/21  9/10 at 101.00  AA (4)  11,821,865 
  (Pre-refunded 9/01/10) – FGIC Insured       
2,500  Whittier, California, Health Facility Revenue Bonds, Presbyterian Intercommunity Hospital,  6/12 at 101.00  N/R (4)  2,827,825 
  Series 2002, 5.600%, 6/01/22 (Pre-refunded 6/01/12)       
78,380  Total U.S. Guaranteed      84,907,651 
  Utilities – 4.3% (2.9% of Total Investments)      
3,630  Imperial Irrigation District, California, Certificates of Participation, Electric System  11/13 at 100.00  AAA  3,805,982 
  Revenue Bonds, Series 2003, 5.250%, 11/01/23 – FSA Insured       
3,775  Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series  No Opt. Call  A  3,219,849 
  2007A, 5.000%, 11/15/35       
5,500  Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series  7/15 at 100.00  AAA  5,652,075 
  2005, 5.000%, 7/01/31 – FSA Insured (UB)       
1,270  Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%,  9/15 at 100.00  N/R  1,121,816 
  9/01/31 – SYNCORA GTY Insured       
14,175  Total Utilities      13,799,722 
  Water and Sewer – 6.1% (4.1% of Total Investments)      
875  Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006,  4/16 at 100.00  AA–  845,129 
  5.000%, 4/01/36 – NPFG Insured       
2,500  Indio Water Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 4/01/31 –  4/16 at 100.00  A+  2,473,950 
  AMBAC Insured       
835  Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006,  6/16 at 100.00  A+  826,324 
  5.000%, 6/01/31 – NPFG Insured       
8,250  Pico Rivera Water Authority, California, Revenue Bonds, Series 2001A, 6.250%, 12/01/32  12/11 at 102.00  N/R  7,538,850 
2,250  Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series  6/16 at 100.00  AA  2,295,023 
  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  AA–  5,539,034 
  Series 2002A, 5.000%, 11/01/18 – NPFG Insured       
19,825  Total Water and Sewer      19,518,309 
$     500,536  Total Investments (cost $482,651,446) – 149.8%      480,054,308 
  Floating Rate Obligations – (8.9)%      (28,545,000)
  Other Assets Less Liabilities – 1.4%      4,424,143 
  Auction Rate Preferred Shares, at Liquidation Value – (42.3)% (5)      (135,525,000)
  Net Assets Applicable to Common Shares – 100%      $ 320,408,451 

 

 
 
 
 
Fair Value Measurements
 
In determining the value of the Fund’s investments various inputs are used. These inputs are summarized in the three broad levels listed below:
 
  Level 1 – Quoted prices in active markets for identical securities.
 
  Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
  Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of November 30, 2009:
 
  Level 1 Level 2 Level 3 Total
Investments:         
Municipal Bonds  $ —  $480,054,308  $ —  $480,054,308 

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 November 30, 2009, the cost of investments was $453,660,237.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2009, were as follows:
 
Gross unrealized:   
  Appreciation  $ 19,340,403 
  Depreciation  (21,489,582)
Net unrealized appreciation (depreciation) of investments  $  (2,149,179)

(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 & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, 
  Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s 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)  Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments is 28.2%. 
N/R  Not rated. 
WI/DD  Purchased on a when-issued or delayed delivery basis. 
(ETM)  Escrowed to maturity. 
(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 California Dividend Advantage Municipal Fund 
 
By (Signature and Title)      /s/ Kevin J. McCarthy                    
                                                Kevin J. McCarthy
                                                Vice President and Secretary
 
Date         January 29, 2010        
 
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, 2010        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                               Stephen D. Foy
                                               Vice President and Controller (principal financial officer) 
 
Date        January 29, 2010