N-Q 1 a10-9571_1nq.htm N-Q

 

 

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 811-21619

 

 

Nuveen Equity Premium Income Fund

 

(Exact name of registrant as specified in charter)

 

   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:

12/31

 

Date of reporting period:

3/31/2010

 

 

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 Equity Premium Income Fund (JPZ)

 

 

 

 

 

March 31, 2010

 

 

 

 

Shares

 

Description (1)

 

Value

 

 

 

Common Stocks – 99.9%

 

 

 

 

 

Aerospace & Defense – 2.9%

 

 

 

50,389

 

Boeing Company

 

$     3,658,745

 

87,200

 

Honeywell International Inc.

 

3,947,544

 

29,605

 

Raytheon Company

 

1,691,038

 

72,061

 

United Technologies Corporation

 

5,304,410

 

 

 

Total Aerospace & Defense

 

14,601,737

 

 

 

Air Freight & Logistics – 0.8%

 

 

 

64,277

 

United Parcel Service, Inc., Class B

 

4,140,082

 

 

 

Airlines – 0.1%

 

 

 

37,484

 

AMR Corporation, (2)

 

341,479

 

16,213

 

Continental Airlines, inc., (2)

 

356,200

 

 

 

Total Airlines

 

697,679

 

 

 

Auto Components – 0.1%

 

 

 

30,296

 

Cooper Tire & Rubber

 

576,230

 

 

 

Automobiles – 0.8%

 

 

 

241,200

 

Ford Motor Company, (2)

 

3,031,884

 

41,681

 

Harley-Davidson, Inc.

 

1,169,986

 

 

 

Total Automobiles

 

4,201,870

 

 

 

Beverages – 2.3%

 

 

 

111,623

 

Coca-Cola Company

 

6,139,265

 

82,498

 

PepsiCo, Inc.

 

5,458,068

 

 

 

Total Beverages

 

11,597,333

 

 

 

Biotechnology – 1.2%

 

 

 

51,633

 

Amgen Inc., (2)

 

3,085,588

 

24,559

 

Celgene Corporation, (2)

 

1,521,676

 

28,599

 

Gilead Sciences, Inc., (2)

 

1,300,683

 

 

 

Total Biotechnology

 

5,907,947

 

 

 

Building Products – 0.1%

 

 

 

42,748

 

Masco Corporation

 

663,449

 

 

 

Capital Markets – 1.8%

 

 

 

84,344

 

Charles Schwab Corporation

 

1,576,389

 

48,534

 

Jefferies Group, Inc.

 

1,148,800

 

40,593

 

Legg Mason, Inc.

 

1,163,801

 

123,866

 

Morgan Stanley

 

3,628,035

 

38,635

 

Waddell & Reed Financial, Inc., Class A

 

1,392,405

 

 

 

Total Capital Markets

 

8,909,430

 

 

 

Chemicals – 2.3%

 

 

 

51,511

 

Dow Chemical Company

 

1,523,180

 

106,397

 

E.I. Du Pont de Nemours and Company

 

3,962,224

 

28,359

 

Eastman Chemical Company

 

1,805,901

 

3,643

 

Lubrizol Corporation

 

334,136

 

23,288

 

Monsanto Company

 

1,663,229

 

16,700

 

NL Industries Inc.

 

143,286

 

53,293

 

Olin Corporation

 

1,045,609

 

60,403

 

RPM International, Inc.

 

1,289,000

 

 

 

Total Chemicals

 

11,766,565

 

 

 

Commercial Banks – 3.1%

 

 

 

33,724

 

Comerica Incorporated

 

1,282,861

 

30,047

 

HSBC Holdings PLC, Sponsored ADR

 

1,523,082

 

2,649

 

Toronto-Dominion Bank

 

197,562

 

177,092

 

U.S. Bancorp

 

4,583,141

 

257,392

 

Wells Fargo & Company

 

8,010,039

 

 

 

Total Commercial Banks

 

15,596,685

 

 

 

Commercial Services & Supplies – 0.8%

 

 

 

3,177

 

Avery Dennison Corporation

 

115,675

 

56,149

 

Deluxe Corporation

 

1,090,414

 

40,642

 

Pitney Bowes Inc.

 

993,697

 

21,600

 

R.R. Donnelley & Sons Company

 

461,160

 

24,100

 

Standard Register Company

 

128,935

 

39,903

 

Waste Management, Inc.

 

1,373,860

 

 

 

Total Commercial Services & Supplies

 

4,163,741

 

 

 

Communications Equipment – 2.6%

 

 

 

14,156

 

ADTRAN, Inc.

 

373,011

 

8,005

 

Ciena Corporation, (2)

 

121,996

 

289,066

 

Cisco Systems, Inc., (2)

 

7,524,388

 

11,034

 

JDS Uniphase Corporation, (2)

 

138,256

 

221,002

 

Motorola, Inc., (2)

 

1,551,434

 

77,162

 

QUALCOMM, Inc.

 

3,240,032

 

2,604

 

Research In Motion Limited, (2)

 

192,566

 

 

 

Total Communications Equipment

 

13,141,683

 

 

 

Computers & Peripherals – 4.8%

 

 

 

45,412

 

Apple, Inc., (2)

 

10,668,641

 

95,726

 

Dell Inc., (2)

 

1,436,847

 

139,379

 

EMC Corporation, (2)

 

2,514,397

 

78,040

 

International Business Machines Corporation (IBM)

 

10,008,630

 

 

 

Total Computers & Peripherals

 

24,628,515

 

 

 

Consumer Finance – 0.1%

 

 

 

42,236

 

Discover Financial Services

 

629,316

 

 

 

Containers & Packaging – 0.2%

 

 

 

43,759

 

Packaging Corp. of America

 

1,076,909

 

5,718

 

Sonoco Products Company

 

176,057

 

 

 

Total Containers & Packaging

 

1,252,966

 

 

 

Distributors – 0.3%

 

 

 

38,978

 

Genuine Parts Company

 

1,646,431

 

 

 

Diversified Consumer Services – 0.1%

 

 

 

7,623

 

Apollo Group, Inc., Class A, (2)

 

467,214

 

 

 

Diversified Financial Services – 4.6%

 

 

 

397,961

 

Bank of America Corporation

 

7,103,604

 

350,485

 

Citigroup Inc., (2)

 

1,419,464

 

7,355

 

CME Group, Inc.

 

2,324,989

 

253,782

 

JPMorgan Chase & Co.

 

11,356,745

 

43,506

 

New York Stock Exchange Euronext

 

1,288,213

 

 

 

Total Diversified Financial Services

 

23,493,015

 

 

 

Diversified Telecommunication Services – 3.6%

 

 

 

436,072

 

AT&T Inc.

 

11,268,100

 

206,568

 

Frontier Communications Corporation

 

1,536,866

 

176,286

 

Verizon Communications Inc.

 

5,468,392

 

20,804

 

Windstream Corporation

 

226,556

 

 

 

Total Diversified Telecommunication Services

 

18,499,914

 

 

 

Electric Utilities – 1.5%

 

 

 

3,600

 

DPL Inc.

 

97,884

 

131,100

 

Duke Energy Corporation

 

2,139,552

 

27,323

 

Great Plains Energy Incorporated

 

507,388

 

80,800

 

Pepco Holdings, Inc.

 

1,385,720

 

33,445

 

Progress Energy, Inc.

 

1,316,395

 

58,348

 

Southern Company

 

1,934,820

 

 

 

Total Electric Utilities

 

7,381,759

 

 

 

Electrical Equipment – 1.0%

 

 

 

87,050

 

Emerson Electric Company

 

4,382,097

 

15,759

 

Rockwell Automation, Inc.

 

888,177

 

 

 

Total Electrical Equipment

 

5,270,274

 

 

 

Electronic Equipment & Instruments – 0.5%

 

 

 

126,298

 

Corning Incorporated

 

2,552,483

 

 

 

Energy Equipment & Services – 2.3%

 

 

 

8,007

 

Diamond Offshore Drilling, Inc.

 

711,102

 

18,452

 

ENSCO International PLC, Sponsored ADR

 

826,281

 

110,699

 

Halliburton Company

 

3,335,361

 

7,759

 

Patterson-UTI Energy, Inc.

 

108,393

 

77,722

 

Schlumberger Limited

 

4,932,238

 

18,335

 

Smith International, Inc.

 

785,105

 

16,157

 

Tidewater Inc.

 

763,741

 

 

 

Total Energy Equipment & Services

 

11,462,221

 

 

 

Food & Staples Retailing – 2.2%

 

 

 

110,268

 

CVS Caremark Corporation

 

4,031,398

 

38,696

 

SUPERVALU INC.

 

645,449

 

118,097

 

Wal-Mart Stores, Inc.

 

6,566,193

 

 

 

Total Food & Staples Retailing

 

11,243,040

 

 

 

Food Products – 1.0%

 

 

 

149,138

 

Kraft Foods Inc., Class A

 

4,509,933

 

57,000

 

Sara Lee Corporation

 

794,010

 

 

 

Total Food Products

 

5,303,943

 

 

 

Gas Utilities – 0.9%

 

 

 

14,837

 

AGL Resources Inc.

 

573,450

 

28,666

 

Atmos Energy Corporation

 

818,988

 

22,995

 

National Fuel Gas Company

 

1,162,397

 

25,417

 

Nicor Inc.

 

1,065,481

 

24,793

 

ONEOK, Inc.

 

1,131,800

 

 

 

Total Gas Utilities

 

4,752,116

 

 

 

Health Care Equipment & Supplies – 1.0%

 

 

 

12,338

 

Hologic Inc., (2)

 

228,747

 

3,518

 

Intuitive Surgical, Inc., (2)

 

1,224,721

 

81,113

 

Medtronic, Inc.

 

3,652,518

 

 

 

Total Health Care Equipment & Supplies

 

5,105,986

 

 

 

Health Care Providers & Services – 2.1%

 

 

 

6,901

 

Brookdale Senior Living Inc., (2)

 

143,748

 

15,450

 

Coventry Health Care, Inc., (2)

 

381,924

 

20,000

 

Express Scripts, Inc., (2)

 

2,035,200

 

1,116

 

Henry Schein Inc., (2)

 

65,732

 

39,267

 

Kindred Healthcare Inc., (2)

 

708,769

 

32,615

 

Medco Health Solutions, Inc., (2)

 

2,105,624

 

93,835

 

UnitedHealth Group Incorporated

 

3,065,589

 

31,168

 

Wellpoint Inc., (2)

 

2,006,596

 

 

 

Total Health Care Providers & Services

 

10,513,182

 

 

 

Health Care Technology – 0.0%

 

 

 

57

 

Cerner Corporation, (2)

 

4,848

 

 

 

Hotels, Restaurants & Leisure – 1.4%

 

 

 

17,800

 

Carnival Corporation

 

692,064

 

42,761

 

International Game Technology

 

788,940

 

2,272

 

Interval Leisure Group Inc., (2)

 

33,080

 

82,848

 

McDonald’s Corporation

 

5,527,619

 

 

 

Total Hotels, Restaurants & Leisure

 

7,041,703

 

 

 

Household Durables – 1.4%

 

 

 

13,597

 

Garmin Limited

 

523,213

 

97,952

 

Newell Rubbermaid Inc.

 

1,488,870

 

39,114

 

Stanley Black & Decker Inc.

 

2,245,535

 

22,404

 

Tupperware Corporation

 

1,080,321

 

18,519

 

Whirlpool Corporation

 

1,615,783

 

 

 

Total Household Durables

 

6,953,722

 

 

 

Household Products – 2.4%

 

 

 

21,955

 

Colgate-Palmolive Company

 

1,871,883

 

14,760

 

Kimberly-Clark Corporation

 

928,109

 

145,813

 

Procter & Gamble Company

 

9,225,589

 

 

 

Total Household Products

 

12,025,581

 

 

 

Industrial Conglomerates – 3.1%

 

 

 

24,463

 

3M Co.

 

2,044,373

 

740,864

 

General Electric Company

 

13,483,725

 

57

 

Siemens AG, Sponsored ADR

 

5,698

 

 

 

Total Industrial Conglomerates

 

15,533,796

 

 

 

Insurance – 2.2%

 

 

 

58,427

 

Allstate Corporation

 

1,887,776

 

11,874

 

Arthur J. Gallagher & Co.

 

291,507

 

46,985

 

Fidelity National Title Group Inc., Class A

 

696,318

 

21,200

 

Hartford Financial Services Group, Inc.

 

602,504

 

76,562

 

Lincoln National Corporation

 

2,350,453

 

72,500

 

Marsh & McLennan Companies, Inc.

 

1,770,450

 

42,977

 

Travelers Companies, Inc.

 

2,318,179

 

52,700

 

Unitrin, Inc.

 

1,478,235

 

 

 

Total Insurance

 

11,395,422

 

 

 

Internet & Catalog Retail – 0.7%

 

 

 

19,491

 

Amazon.com, Inc., (2)

 

2,645,513

 

3,103

 

HSN, Inc., (2)

 

91,352

 

2,978

 

Priceline.com Incorporated, (2)

 

759,390

 

 

 

Total Internet & Catalog Retail

 

3,496,255

 

 

 

Internet Software & Services – 2.2%

 

 

 

14,527

 

Akamai Technologies, Inc., (2)

 

456,293

 

63,227

 

eBay Inc., (2)

 

1,703,968

 

11,917

 

Google Inc., Class A, (2)

 

6,757,058

 

44,605

 

United Online, Inc.

 

333,645

 

5,616

 

ValueClick, Inc., (2)

 

56,946

 

25,228

 

VeriSign, Inc., (2)

 

656,180

 

78,773

 

Yahoo! Inc., (2)

 

1,302,118

 

 

 

Total Internet Software & Services

 

11,266,208

 

 

 

IT Services – 1.3%

 

 

 

4,000

 

Accenture PLC, Class A

 

167,800

 

37,471

 

Automatic Data Processing, Inc.

 

1,666,335

 

21,368

 

Cognizant Technology Solutions Corporation, Class A, (2)

 

1,089,341

 

23,364

 

Fidelity National Information Services

 

547,652

 

3,197

 

Lender Processing Services Inc.

 

120,687

 

6,331

 

MasterCard, Inc.

 

1,608,074

 

36,134

 

Paychex, Inc.

 

1,109,314

 

2,733

 

Visa Inc.

 

248,785

 

 

 

Total IT Services

 

6,557,988

 

 

 

Leisure Equipment & Products – 0.2%

 

 

 

39,513

 

Eastman Kodak Company, (2)

 

228,780

 

11,848

 

Polaris Industries Inc.

 

606,144

 

 

 

Total Leisure Equipment & Products

 

834,924

 

 

 

Machinery – 2.1%

 

 

 

38,388

 

Caterpillar Inc.

 

2,412,686

 

26,953

 

Cummins Inc.

 

1,669,738

 

28,819

 

Deere & Company

 

1,713,578

 

13,600

 

Graco Inc.

 

435,200

 

16,686

 

Ingersoll Rand PLC

 

581,841

 

18,030

 

Parker Hannifin Corporation

 

1,167,262

 

11,767

 

Snap-on Incorporated

 

509,982

 

25,530

 

SPX Corporation

 

1,693,150

 

12,000

 

Timken Company

 

360,120

 

 

 

Total Machinery

 

10,543,557

 

 

 

Media – 2.4%

 

 

 

60,282

 

CBS Corporation, Class B

 

840,331

 

139,536

 

Comcast Corporation, Class A

 

2,626,068

 

39,613

 

New York Times, Class A, (2)

 

440,893

 

35,396

 

Omnicom Group, Inc.

 

1,373,719

 

114,479

 

Regal Entertainment Group, Class A

 

2,011,396

 

138,485

 

Walt Disney Company

 

4,834,511

 

 

 

Total Media

 

12,126,918

 

 

 

Metals & Mining – 0.7%

 

 

 

73,484

 

Alcoa Inc.

 

1,046,412

 

27,262

 

Nucor Corporation

 

1,237,150

 

35,874

 

Southern Copper Corporation

 

1,136,130

 

 

 

Total Metals & Mining

 

3,419,692

 

 

 

Multiline Retail – 1.2%

 

 

 

7

 

Dollar Tree Stores Inc., (2)

 

415

 

4,000

 

Family Dollar Stores, Inc.

 

146,440

 

41,402

 

Macy’s, Inc.

 

901,322

 

47,494

 

Nordstrom, Inc.

 

1,940,130

 

8,076

 

Sears Holding Corporation, (2)

 

875,681

 

41,376

 

Target Corporation

 

2,176,378

 

 

 

Total Multiline Retail

 

6,040,366

 

 

 

Multi-Utilities – 1.9%

 

 

 

40,360

 

Ameren Corporation

 

1,052,589

 

35,279

 

Consolidated Edison, Inc.

 

1,571,327

 

71,595

 

Integrys Energy Group, Inc.

 

3,392,171

 

15,861

 

Northwestern Corporation

 

425,233

 

32,717

 

OGE Energy Corp.

 

1,274,000

 

66,981

 

Public Service Enterprise Group Incorporated

 

1,977,279

 

 

 

Total Multi-Utilities

 

9,692,599

 

 

 

Oil, Gas & Consumable Fuels – 9.2%

 

 

 

12,670

 

BP PLC, Sponsored ADR

 

723,077

 

9,051

 

Cenovus Energy Inc.

 

237,227

 

122,951

 

Chevron Corporation

 

9,323,374

 

99,438

 

ConocoPhillips

 

5,088,242

 

46,182

 

CONSOL Energy Inc.

 

1,970,124

 

27,271

 

Continental Resources Inc., (2)

 

1,160,381

 

9,051

 

EnCana Corporation

 

280,853

 

40,461

 

EOG Resources, Inc.

 

3,760,445

 

255,872

 

Exxon Mobil Corporation

 

17,138,307

 

53,857

 

Occidental Petroleum Corporation

 

4,553,071

 

7,724

 

Suncor Energy, Inc.

 

251,339

 

11,032

 

Total SA, Sponsored ADR

 

640,077

 

92,575

 

Valero Energy Corporation

 

1,823,728

 

 

 

Total Oil, Gas & Consumable Fuels

 

46,950,245

 

 

 

Paper & Forest Products – 0.3%

 

 

 

34,387

 

Weyerhaeuser Company

 

1,556,699

 

 

 

Pharmaceuticals – 7.7%

 

 

 

104,481

 

Abbott Laboratories

 

5,504,059

 

153,129

 

Bristol-Myers Squibb Company

 

4,088,544

 

62,495

 

Eli Lilly and Company

 

2,263,569

 

154,094

 

Johnson & Johnson

 

10,046,929

 

204,085

 

Merck & Company Inc.

 

7,622,575

 

505,369

 

Pfizer Inc.

 

8,667,078

 

18,021

 

Sanofi-Aventis, Sponsored ADR

 

673,265

 

 

 

Total Pharmaceuticals

 

38,866,019

 

 

 

Professional Services – 0.1%

 

 

 

3,665

 

Manpower Inc.

 

209,345

 

20,209

 

Resources Connection, Inc., (2)

 

387,407

 

 

 

Total Professional Services

 

596,752

 

 

 

Real Estate Investment Trust – 2.0%

 

 

 

46,493

 

Brandywine Realty Trust

 

567,680

 

54,183

 

CapLease Inc.

 

300,716

 

32,157

 

Health Care REIT, Inc.

 

1,454,461

 

49,625

 

Healthcare Realty Trust, Inc.

 

1,155,766

 

45,684

 

Hospitality Properties Trust

 

1,094,132

 

116,913

 

HRPT Properties Trust

 

909,583

 

88,469

 

Lexington Corporate Properties Trust

 

575,933

 

30,821

 

Liberty Property Trust

 

1,046,065

 

17,263

 

Medical Properties Trust Inc.

 

180,916

 

42,355

 

Nationwide Health Properties, Inc.

 

1,488,778

 

30,300

 

Senior Housing Properties Trust

 

671,145

 

11,215

 

Sun Communities Inc.

 

282,618

 

61,650

 

U-Store-It Trust

 

443,880

 

 

 

Total Real Estate Investment Trust

 

10,171,673

 

 

 

Road & Rail – 0.6%

 

 

 

18,105

 

Norfolk Southern Corporation

 

1,011,888

 

28,097

 

Union Pacific Corporation

 

2,059,510

 

 

 

Total Road & Rail

 

3,071,398

 

 

 

Semiconductors & Equipment – 2.5%

 

 

 

27,457

 

Analog Devices, Inc.

 

791,311

 

103,121

 

Applied Materials, Inc.

 

1,390,071

 

21,444

 

Broadcom Corporation, Class A

 

711,512

 

279,836

 

Intel Corporation

 

6,229,149

 

12,846

 

Intersil Holding Corporation, Class A

 

189,607

 

6,596

 

Lam Research Corporation, (2)

 

246,163

 

24,226

 

Microchip Technology Incorporated

 

682,204

 

24,800

 

National Semiconductor Corporation

 

358,360

 

33,221

 

NVIDIA Corporation, (2)

 

577,381

 

67,000

 

Texas Instruments Incorporated

 

1,639,490

 

 

 

Total Semiconductors & Equipment

 

12,815,248

 

 

 

Software – 4.2%

 

 

 

34,641

 

Adobe Systems Incorporated, (2)

 

1,225,252

 

18,119

 

Autodesk, Inc., (2)

 

533,061

 

3,113

 

McAfee Inc., (2)

 

124,925

 

432,556

 

Microsoft Corporation

 

12,660,914

 

232,161

 

Oracle Corporation

 

5,964,216

 

12,400

 

Salesforce.com, Inc., (2)

 

923,180

 

3,000

 

Sybase, Inc., (2)

 

139,860

 

 

 

Total Software

 

21,571,408

 

 

 

Specialty Retail – 2.4%

 

 

 

26,963

 

Abercrombie & Fitch Co., Class A

 

1,230,591

 

46,762

 

American Eagle Outfitters, Inc.

 

866,032

 

34,498

 

Best Buy Co., Inc.

 

1,467,545

 

108,836

 

Home Depot, Inc.

 

3,520,845

 

51,450

 

Limited Brands, Inc.

 

1,266,699

 

85,724

 

Lowe’s Companies, Inc.

 

2,077,950

 

236

 

Ross Stores, Inc.

 

12,619

 

10,866

 

Tiffany & Co.

 

516,026

 

25,162

 

TJX Companies, Inc.

 

1,069,888

 

 

 

Total Specialty Retail

 

12,028,195

 

 

 

Textiles, Apparel & Luxury Goods – 0.4%

 

 

 

7,159

 

Cherokee Inc.

 

128,862

 

21,365

 

VF Corporation

 

1,712,405

 

 

 

Total Textiles, Apparel & Luxury Goods

 

1,841,267

 

 

 

Thrifts & Mortgage Finance – 0.3%

 

 

 

60,610

 

New York Community Bancorp, Inc.

 

1,002,489

 

38,788

 

TrustCo Bank Corporation NY

 

239,322

 

 

 

Total Thrifts & Mortgage Finance

 

1,241,811

 

 

 

Tobacco – 1.9%

 

 

 

166,624

 

Altria Group, Inc.

 

3,419,124

 

109,828

 

Philip Morris International

 

5,728,628

 

10,734

 

Reynolds American Inc.

 

579,421

 

1

 

Vector Group Ltd.

 

15

 

 

 

Total Tobacco

 

9,727,188

 

 

 

Wireless Telecommunication Services – 0.0%

 

 

 

5,500

 

USA Mobility Inc.

 

69,684

 

 

 

Total Common Stocks (cost $458,164,536)

 

507,607,972

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity

 

 

 

Value

 

 

 

Short-Term Investments – 6.6%

 

 

 

 

 

 

 

 

 

$

33,460

 

Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/10, repurchase price $33,459,846, collateralized by $31,280,000 U.S. Treasury Notes, 4.125%, due 5/15/15, value $34,129,608

 

0.000%

 

4/01/10

 

 

 

$       33,459,846

 

 

 

Total Short-Term Investments (cost $33,459,846)

 

 

 

 

 

 

33,459,846

 

 

 

Total Investments (cost $491,624,382) – 106.5%

 

 

 

 

 

 

 

541,067,818

 

 

 

Other Assets Less Liabilities – (6.5)%

 

 

 

 

 

 

 

(33,215,184

)

 

 

Net Assets – 100%

 

 

 

 

 

 

 

$      507,852,634

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Derivatives

 

 

 

 

 

 

 

 

 

Number of

 

 

 

Notional

 

Expiration

 

Strike

 

 

 

Contracts

 

Type

 

Amount (3)

 

Date

 

Price

 

Value

 

 

 

Call Options Written (4)

 

 

 

 

 

 

 

 

 

(545

)

S&P 500 Index

 

$  (58,587,500)

 

4/17/10

 

$  1,075

 

$         (5,174,775

)

(576

)

S&P 500 Index

 

(63,360,000)

 

4/17/10

 

1,100

 

(4,066,560

)

(473

)

S&P 500 Index

 

(53,212,500)

 

4/17/10

 

1,125

 

(2,232,560

)

(579

)

S&P 500 Index

 

(66,585,000)

 

4/17/10

 

1,150

 

(1,511,190

)

(528

)

S&P 500 Index

 

(62,040,000)

 

4/17/10

 

1,175

 

(549,120

)

(547

)

S&P 500 Index

 

(60,170,000)

 

5/22/10

 

1,100

 

(4,181,815

)

(527

)

S&P 500 Index

 

(59,287,500)

 

5/22/10

 

1,125

 

(2,951,200

)

(546

)

S&P 500 Index

 

(62,790,000)

 

5/22/10

 

1,150

 

(2,063,880

)

(4,321

)

Total Call Options Written (premiums received $12,851,468)

 

(486,032,500)

 

 

 

 

 

$       (22,731,100

)

 

 

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 1Quoted prices in active markets for identical securities.

 

Level 2Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

 

Level 3Significant 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 March 31, 2010:

 

 

 

 

Level 1  

 

Level 2

 

Level 3

 

Total  

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Common Stocks

 

$507,607,972 

 

$

 

$

 

$507,607,972 

 

 

Short-Term Investments

 

33,459,846 

 

 

 

33,459,846 

 

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

Call Options Written

 

(22,731,100)

 

 

 

(22,731,100)

 

 

Total

 

$518,336,718 

 

$

 

$

 

$518,336,718 

 

 

Derivative Instruments and Hedging Activities

 

The Fund records derivative instruments at fair value with changes in fair value recognized in the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are considered to be non-hedge transactions for financial reporting purposes.

 

The table below presents the fair value of all derivative instruments held by the Fund as of March 31, 2010, the location of these instruments on the Statement of Assets and Liabilities, and the primary underlying risk exposure.

 

 

 

 

 

 

 

Location on the Statement of Assets and Liabilities

 

 

Underlying

 

Derivative

 

Asset Derivatives

 

Liability Derivatives

 

 

Risk

 

Instrument

 

Location

 

Value

 

Location

 

Value

 

 

Equity Price

 

Options

 

 

$

 

Call options written, at value

 

$

22,731,100

 

 

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 recording income, timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on option contracts. 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 values of the Funds.

 

At March 31, 2010, the cost of investments was $491,624,411.

 

Gross unrealized appreciation and gross unrealized depreciation of investments at March 31, 2010, were as follows:

 

 

 

Gross unrealized:

 

 

 

 

Appreciation

 

$  109,671,951

 

 

Depreciation

 

(60,228,544

)

 

 

 

 

 

 

Net unrealized appreciation (depreciation) of investments

 

$    49,443,407

 

 

 

 

 

 

 

 

(1)

All percentages in the Portfolio of Investments are based on net assets.

 

(2)

Non-income producing; issuer has not declared a dividend within the past twelve months.

 

(3)

For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100.

 

(4)

The Fund may designate up to 100% of its Common Stock investments to cover outstanding Call Options Written.

 

ADR

American Depositary Receipt.

 

 

 

 



 

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: 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 Equity Premium Income Fund

 

 

 

 

 

 

 

By (Signature and Title)*

/s/ Kevin J. McCarthy

 

 

Kevin J. McCarthy

 

 

Vice President and Secretary

 

 

 

Date May 28, 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 May 28, 2010

 

 

By (Signature and Title)*

/s/ Stephen D. Foy

 

 

Stephen D. Foy

 

 

Vice President and Controller (principal financial officer)

 

 

 

Date May 28, 2010


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