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         811-09461         

        Nuveen North Carolina 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. 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:            05/31          

Date of reporting period:          02/28/05         

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 North Carolina Dividend Advantage Municipal Fund (NRB)
February 28, 2005

	Principal		Optional Call		Market
	Amount (000)	Description(1)	Provisions*	Ratings**	Value
		Education and Civic Organizations - 26.7% (17.8% of Total Investments)
$	500	North Carolina Capital Facilities Financing Agency, Revenue Bonds, High Point University, Series	9/11 at 101.00	Baa2	$    524,520
		2001, 5.125%, 9/01/18
	2,000	North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series 2001A,	10/11 at 100.00	AA+	2,087,800
		5.125%, 10/01/26
	1,750	University of North Carolina, Chapel Hill, System Net Revenue Bonds, Series 2001A, 5.000%,	6/11 at 100.00	AA+	1,837,640
		12/01/25
	1,845	University of North Carolina, Chapel Hill, System Net Revenue Bonds, Series 2002B, 5.000%,	No Opt. Call	AA+	2,032,692
		12/01/11
	2,450	University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A, 5.375%,	10/12 at 100.00	AAA	2,722,465
		4/01/17 - AMBAC Insured
		Healthcare - 22.2% (14.9% of Total Investments)
	1,110	North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Union Regional Medical	1/12 at 100.00	A	1,183,038
		Center, Series 2002A, 5.250%, 1/01/15
	2,500	North Carolina Medical Care Commission, Healthcare Revenue Bonds, Carolina Medicorp, Series 1996,	5/07 at 100.00	AA-	2,546,050
		5.250%, 5/01/26
	1,500	North Carolina Medical Care Commission, Hospital Revenue Bonds, Southeastern Regional Medical	6/12 at 101.00	A	1,562,595
		Center, Series 2002, 5.250%, 6/01/22
	300	North Carolina Medical Care Commission, Revenue Bonds, Northeast Medical Center, Series 2004,	11/14 at 100.00	AA-	312,600
		5.000%, 11/01/24
	2,000	North Carolina Medical Care Commission, Health System Revenue Bonds, Mission-St. Joseph's Health	10/11 at 101.00	AA	2,098,100
		System, Series 2001, 5.250%, 10/01/31
		Housing/Multifamily - 14.2% (9.6% of Total Investments)
	2,230	Durham Housing Authority, North Carolina, FNMA Guaranteed Multifamily Housing Revenue Bonds, Naples	6/11 at 100.00	AAA	2,293,399
		Terrace Apartments, Series 2001A, 5.700%, 6/01/33 (Alternative Minimum Tax)
	2,500	Mecklenburg County, North Carolina, FNMA Multifamily Housing Revenue Bonds, Sycamore Green	1/12 at 102.00	AAA	2,642,775
		Apartments, Series 2001, 5.500%, 1/15/35 (Alternative Minimum Tax) (Mandatory put 1/15/23) - FGIC
		Insured
		Housing/Single Family - 5.3% (3.6% of Total Investments)
	1,295	North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series	7/09 at 100.00	AA	1,328,424
		5A, 5.625%, 7/01/30 (Alternative Minimum Tax)
	495	North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series	7/10 at 100.00	AAA	505,004
		10A, 5.400%, 7/01/32 (Alternative Minimum Tax) - AMBAC Insured
		Industrials - 1.4% (1.0% of Total Investments)
	500	North Carolina Capital Facilities Financing Agency, Exempt Facilities Revenue Bonds, Waste	No Opt. Call	BBB	501,195
		Management Inc., Series 2001, 3.750%, 8/01/14 (Alternative Minimum Tax) (Mandatory put 8/01/07)
		Long-Term Care - 0.9% (0.6% of Total Investments)
	300	North Carolina Medical Care Commission, Revenue Bonds, United Methodist Retirement Homes Inc.,	10/14 at 100.00	N/R	299,808
		Series 2005A, 5.500%, 10/01/35
		Materials - 2.3% (1.4% of Total Investments)
	750	Columbus County Industrial Facilities and Pollution Control Financing Authority, North Carolina,	4/07 at 102.00	BBB	780,413
		Environmental Improvement Revenue Bonds, International Paper Company Project, Series 1997A,
		6.150%, 4/01/21 (Alternative Minimum Tax)
		Tax Obligation/General - 6.2% (4.2% of Total Investments)
		North Carolina, General Obligation Bonds, Series 2004A:
	1,000	5.000%, 3/01/18	3/14 at 100.00	AAA	1,086,440
	1,000	5.000%, 3/01/22	3/14 at 100.00	AAA	1,073,060
		Tax Obligation/Limited - 19.9% (13.4% of Total Investments)
	1,330	Cabarrus County, North Carolina, Certificates of Participation, Series 2002, 5.250%, 2/01/15	2/13 at 100.00	AA-	1,455,339
	1,400	Charlotte, North Carolina, Certificates of Participation, Governmental Facilities Projects, Series	6/13 at 100.00	AA+	1,512,182
		2003G, 5.375%, 6/01/26
	1,870	Dare County, North Carolina, Certificates of Participation, Series 2002, 5.250%, 6/01/15 - AMBAC	12/12 at 100.00	AAA	2,060,516
		Insured
	1,250	Davidson County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/21 -	6/14 at 100.00	AAA	1,364,263
		AMBAC Insured
	470	Raleigh, North Carolina, Certificates of Participation, Downtown Improvement Project, Series 2004B,	6/14 at 100.00	AA+	499,493
		5.000%, 6/01/20
		Transportation - 4.8% (3.2% of Total Investments)
	1,530	Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Series 2001A, 5.250%,	5/11 at 101.00	Aaa	1,666,308
		11/01/18 - FGIC Insured
		Utilities - 19.7% (13.2% of Total Investments)
		Greenville, North Carolina, Combined Enterprise System Revenue Bonds, Series 2001:
	1,000	5.250%, 9/01/20 - FSA Insured	9/11 at 101.00	AAA	1,093,640
	500	5.250%, 9/01/21 - FSA Insured	9/11 at 101.00	AAA	543,950
	2,500	North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 1993B,	7/05 at 100.00	AAA	2,505,925
		5.500%, 1/01/17 - FGIC Insured
	1,000	North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 1999B,	1/09 at 102.00	BBB	1,065,990
		5.650%, 1/01/16
	1,500	Wake County Industrial Facilities and Pollution Control Financing Authority, North Carolina,	2/12 at 101.00	A3	1,611,945
		Revenue Refunding Bonds, Carolina Power and Light Company, Series 2002, 5.375%, 2/01/17
		Water and Sewer - 25.4% (17.1% of Total Investments)
	2,290	Broad River Water Authority, North Carolina, Water System Revenue Bonds, Series 2000, 5.375%,	6/10 at 101.00	Aaa	2,480,230
		6/01/26 - MBIA Insured
	2,250	Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Series 2001, 5.125%, 6/01/26	6/11 at 101.00	AAA	2,375,888
		Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2001A:
	500	5.125%, 6/01/20	6/11 at 101.00	AA+	540,250
	500	5.125%, 6/01/21	6/11 at 101.00	AA+	538,715
	400	Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004B, 5.000%,	6/14 at 100.00	AAA	423,840
		6/01/23 - XLCA Insured
	2,275	Winston-Salem, North Carolina, Water and Sewerage System Revenue Bonds, Series 2002A, 5.000%,	6/12 at 100.00	AAA	2,448,875
		6/01/17
$	48,590	Total Long-Term Investments (cost $49,092,987) - 149.0%			51,605,367
		Other Assets Less Liabilities - 0.1%			39,279
		Preferred Shares, at Liquidation Value - (49.1)%			(17,000,000)
		Net Assets Applicable to Common Shares - 100%			$34,644,646

Forward Swap Contracts outstanding at Feburary 28, 2005:

			Swap	Unrealized
	Notional	Effective	Termination	Appreciation
	Amount	Date(2)	Date	(Depreciation)
Agreement with Morgan Stanley dated December 8, 2004, to pay
semi-annually the notional amount multiplied by 5.313% (annualized)
and receive quarterly the notional amount multiplied by the three-month
USD-LIBOR (United States Dollar-London Inter-Bank Offered Rates).	$1,500,000	7/18/05	7/18/35	$(23,810)
				$(23,810)

(1)	All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares
	unless otherwise noted.
(2)	Effective date represents the date on which both the Fund and counterparty commence interest payment
	accruals on each forward swap contract.
*	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.
N/R	Investment is not rated.
	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 February 28, 2005, the cost of investments was $49,091,832.
	Gross unrealized appreciation and gross unrealized depreciation of investments at February 28, 2005,
	were as follows:
	Gross unrealized:
	Appreciation	$2,513,535
	Depreciation	-
	Net unrealized appreciation of investments	$2,513,535

Item 2. Controls and Procedures.

1. 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)).
2. 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: 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 North Carolina Dividend Advantage Municipal Fund        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         04/29/05        

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         04/29/05        

By (Signature and Title)*         /s/ Stephen D. Foy--Vice President and Controller (principal financial officer)        

Date         04/29/05        

* Print the name and title of each signing officer under his or her signature.