N-Q 1 c47048nvq.htm FORM N-Q N-Q
Table of Contents

 
 
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 811-21809
Nuveen Equity Premium and Growth 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:    9/30/2008   
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.
 
 

 


TABLE OF CONTENTS

Item 1. Schedule of Investments
Item 2. Controls and Procedures
Item 3. Exhibits
SIGNATURES
EX-99.CERT


Table of Contents

Item 1. Schedule of Investments
Portfolio of Investments (Unaudited)
Nuveen Equity Premium and Growth Fund (JPG)
September 30, 2008
                             
Shares     Description (1)               Value  
 
 
 
                   
 
Common Stocks – 96.8%
 
 
                   
 
Aerospace & Defense – 1.8%
 
 
                   
  25,768    
Boeing Company
              $ 1,477,795  
  4,500    
Goodrich Corporation
                187,200  
  33,500    
Honeywell International Inc.
                1,391,925  
  5,496    
Raytheon Company
                294,091  
  25,203    
United Technologies Corporation
                1,513,692  
 
 
Total Aerospace & Defense
                4,864,703  
   
 
 
                   
 
Air Freight & Logistics – 0.4%
 
 
                   
  15,798    
United Parcel Service, Inc., Class B
                993,536  
 
 
 
                   
 
Airlines – 0.3%
 
 
                   
  13,544    
AMR Corporation, (2)
                133,002  
  6,708    
Continental Airlines, Inc., (2)
                111,889  
  55,105    
Lan Airlines S.A., Sponsored ADR
                628,197  
 
 
Total Airlines
                873,088  
   
 
 
                   
 
Auto Components – 0.1%
 
 
                   
  24,800    
American Axle and Manufacturing Holdings Inc.
                132,928  
  9,310    
Cooper Tire & Rubber
                80,066  
 
 
Total Auto Components
                212,994  
   
 
 
                   
 
Automobiles – 0.3%
 
 
                   
  99,139    
Ford Motor Company, (2)
                515,523  
  35,600    
General Motors Corporation
                336,420  
 
 
Total Automobiles
                851,943  
   
 
 
                   
 
Beverages – 1.7%
 
 
                   
  44,948    
Coca-Cola Company
                2,376,850  
  31,844    
PepsiCo, Inc.
                2,269,522  
 
 
Total Beverages
                4,646,372  
   
 
 
                   
 
Biotechnology – 0.8%
 
 
                   
  11,525    
Celgene Corporation, (2)
                729,302  
  560    
Cephalon, Inc., (2)
                43,394  
  3,005    
Genentech, Inc., (2)
                266,483  
  21,301    
Gilead Sciences, Inc., (2)
                970,900  
  2,730    
Invitrogen Corporation, (2)
                103,194  
  10,546    
PDL Biopharma Inc., (2)
                98,183  
 
 
Total Biotechnology
                2,211,456  
   
 
 
                   
 
Capital Markets – 3.5%
 
 
                   
  62,385    
Charles Schwab Corporation
                1,622,010  
  24,811    
Federated Investors Inc.
                715,797  
  11,429    
Goldman Sachs Group, Inc.
                1,462,912  
  90,178    
JPMorgan Chase & Co.
                4,211,313  
  33,567    
Morgan Stanley
                772,041  
  22,422    
Waddell & Reed Financial, Inc., Class A
                554,945  
 
 
Total Capital Markets
                9,339,018  
   
 
 
                   
 
Chemicals – 2.1%
 
 
                   
  24,470    
Chemtura Corporation
                111,583  
  56,173    
Dow Chemical Company
                1,785,178  
  47,395    
E.I. Du Pont de Nemours and Company
                1,910,019  
  5,835    
Eastman Chemical Company
                321,275  
  29,107    
Olin Corporation
                564,676  
  13,161    
PPG Industries, Inc.
                767,550  
  10,283    
RPM International, Inc.
                198,873  
 
 
Total Chemicals
                5,659,154  
   
 
 
                   
 
Commercial Banks – 5.1%
 
 
                   
  124,776    
Bank of America Corporation
                4,367,160  
  24,420    
Comerica Incorporated
                800,732  
  26,643    
First Horizon National Corporation
                249,383  
  8,605    
FirstMerit Corporation
                180,705  
  9,110    
HSBC Holdings PLC, Sponsored ADR
                736,361  
  49,105    
Huntington BancShares Inc.
                392,349  
  46,699    
Regions Financial Corporation
                448,310  
  96,551    
U.S. Bancorp
                3,477,767  
  75,340    
Wachovia Corporation
                263,690  
  75,026    
Wells Fargo & Company
                2,815,726  
 
 
Total Commercial Banks
                13,732,183  
   
 
 
                   
 
Commercial Services & Supplies – 0.3%
 
 
                   
  13,262    
Avery Dennison Corporation
                589,894  
  19,872    
Deluxe Corporation
                285,958  
 
 
Total Commercial Services & Supplies
                875,852  
   
 
 
                   
 
Communications Equipment – 2.3%
 
 
                   
  136,624    
Cisco Systems, Inc., (2)
                3,082,237  
  42,658    
Corning Incorporated
                667,171  
  36,122    
Motorola, Inc.
                257,911  
  49,232    
QUALCOMM Inc.
                2,115,499  
  550    
Research In Motion Limited, (2)
                37,565  
 
 
Total Communications Equipment
                6,160,383  
   
 
 
                   
 
Computers & Peripherals – 4.2%
 
 
                   
  25,205    
Apple, Inc., (2)
                2,864,800  
  42,123    
Dell Inc., (2)
                694,187  
  58,247    
EMC Corporation, (2)
                696,634  
  65,768    
Hewlett-Packard Company
                3,041,112  
  35,500    
International Business Machines Corporation (IBM)
                4,152,080  
 
 
Total Computers & Peripherals
                11,448,813  
   
 
 
                   
 
Consumer Finance – 0.3%
 
 
                   
  21,743    
American Express Company
                770,354  
  640    
Visa Inc.
                39,290  
 
 
Total Consumer Finance
                809,644  
   
 
 
                   
 
Containers & Packaging – 0.1%
 
 
                   
  21,200    
Packaging Corp. of America
                491,416  
 
 
 
                   
 
Diversified Consumer Services – 0.1%
 
 
                   
  4,177    
Apollo Group, Inc., (2)
                247,696  
 
 
 
                   
 
Diversified Financial Services – 1.8%
 
 
                   
  143,304    
Citigroup Inc.
                2,939,165  
  3,292    
CME Group, Inc.
                1,223,011  
  4,567    
Intercontinental Exchange Inc., (2)
                368,466  
  8,294    
New York Stock Exchange Euronext
                324,959  
 
 
Total Diversified Financial Services
                4,855,601  
   
 
 
                   
 
Diversified Telecommunication Services – 3.5%
 
 
                   
  4,000    
Alaska Communications Systems Group Inc.
                48,920  
  147,861    
AT&T Inc.
                4,128,279  
  7,463    
FairPoint Communications Inc.
                64,704  
  81,953    
Frontier Communications Corporation
                942,460  
  65,821    
Sprint Nextel Corporation, (2)
                401,508  
  124,392    
Verizon Communications Inc.
                3,991,739  
 
 
Total Diversified Telecommunication Services
                9,577,610  
   
 
 
                   
 
Electric Utilities – 1.8%
 
 
                   
  28,310    
Ameren Corporation
                1,104,939  
  2,414    
Companhia Energetica de Minas Gerais, Sponsored ADR
                47,652  
  24,452    
Consolidated Edison, Inc.
                1,050,458  
  66,284    
Great Plains Energy Incorporated
                1,472,830  
  26,735    
Progress Energy, Inc.
                1,153,081  
 
 
Total Electric Utilities
                4,828,960  
   
 
 
                   
 
Electrical Equipment – 1.1%
 
 
                   
  8,053    
Cooper Industries, Ltd., Class A
                321,717  
  60,000    
Emerson Electric Company
                2,447,400  
  110    
First Solar Inc., (2)
                20,780  
  2,000    
Hubbell Incorporated, Class B
                70,100  
  6,417    
Rockwell Automation, Inc.
                239,611  
 
 
Total Electrical Equipment
                3,099,608  
   
 
 
                   
 
Electronic Equipment & Instruments – 0.1%
 
 
                   
  9,421    
MEMC Electronic Materials, (2)
                266,237  
 
 
 
                   
 
Energy Equipment & Services – 3.1%
 
 
                   
  12,700    
Baker Hughes Incorporated
                768,858  
  3,264    
Carbo Ceramics Inc.
                168,455  
  3,196    
Diamond Offshore Drilling, Inc.
                329,380  
  34,006    
Halliburton Company
                1,101,454  
  17,916    
National-Oilwell Varco Inc., (2)
                899,921  
  10,000    
Noble Corporation
                439,000  
  37,639    
Schlumberger Limited
                2,939,230  
  11,347    
Smith International, Inc.
                665,388  
  2,000    
Tidewater Inc.
                110,720  
  8,347    
Transocean Inc., (2)
                916,834  
 
 
Total Energy Equipment & Services
                8,339,240  
   
 
 
                   
 
Food & Staples Retailing – 2.0%
 
 
                   
  31,995    
CVS Caremark Corporation
                1,076,952  
  23,637    
SUPERVALU INC.
                512,923  
  56,986    
Wal-Mart Stores, Inc.
                3,412,892  
  14,890    
Whole Foods Market, Inc.
                298,247  
 
 
Total Food & Staples Retailing
                5,301,014  
   
 
 
                   
 
Food Products – 1.3%
 
 
                   
  986    
Archer-Daniels-Midland Company
                21,603  
  41,300    
ConAgra Foods, Inc.
                803,698  
  48,088    
Kraft Foods Inc.
                1,574,882  
  11,287    
Monsanto Company
                1,117,187  
 
 
Total Food Products
                3,517,370  
   
 
 
                   
 
Gas Utilities – 0.6%
 
 
                   
  35,390    
Nicor Inc.
                1,569,547  
 
 
 
                   
 
Health Care Equipment & Supplies – 0.8%
 
 
                   
  9,938    
Baxter International Inc.
                652,231  
  28,854    
Boston Scientific Corporation, (2)
                354,039  
  4,168    
Hologic Inc., (2)
                80,567  
  2,280    
Lincare Holdings, (2)
                68,605  
  19,245    
Medtronic, Inc.
                964,175  
 
 
Total Health Care Equipment & Supplies
                2,119,617  
   
 
 
                   
 
Health Care Providers & Services – 1.4%
 
 
                   
  12,303    
Aetna Inc.
                444,261  
  23,173    
Brookdale Senior Living Inc.
                509,574  
  7,287    
Express Scripts, Inc., (2)
                537,926  
  540    
Henry Schein Inc., (2)
                29,074  
  3,614    
Humana Inc., (2)
                148,897  
  12,349    
Medco Health Solutions, Inc., (2)
                555,705  
  24,649    
Tenet Healthcare Corporation, (2)
                136,802  
  34,501    
UnitedHealth Group Incorporated
                875,980  
  11,042    
Wellpoint Inc., (2)
                516,434  
 
 
Total Health Care Providers & Services
                3,754,653  
   
 
 
                   
 
Hotels, Restaurants & Leisure – 1.1%
 
 
                   
  6,073    
International Game Technology
                104,334  
  37,449    
McDonald’s Corporation
                2,310,603  
  12,813    
Tim Hortons Inc.
                379,649  
  43,350    
Wendys Arbys Group Inc.
                228,021  
 
 
Total Hotels, Restaurants & Leisure
                3,022,607  
   
 
 
                   
 
Household Durables – 1.0%
 
 
                   
  5,583    
Black & Decker Corporation
                339,167  
  1,658    
KB Home
                32,629  
  13,500    
Kimball International Inc., Class B
                145,800  
  3,450    
Lennar Corporation, Class A
                52,406  
  39,679    
Newell Rubbermaid Inc.
                684,860  
  12,000    
Snap-on Incorporated
                631,920  
  13,500    
Stanley Works
                563,490  
  2,527    
Whirlpool Corporation
                200,366  
 
 
Total Household Durables
                2,650,638  
   
 
 
                   
 
Household Products – 3.0%
 
 
                   
  8,897    
Colgate-Palmolive Company
                670,389  
  20,000    
Kimberly-Clark Corporation
                1,296,800  
  87,659    
Procter & Gamble Company
                6,108,956  
 
 
Total Household Products
                8,076,145  
   
 
 
                   
 
Industrial Conglomerates – 3.7%
 
 
                   
  19,540    
3M Co.
                1,334,777  
  296,601    
General Electric Company
                7,563,326  
  29,620    
Genuine Parts Company
                1,191,020  
 
 
Total Industrial Conglomerates
                10,089,123  
   
 
 
                   
 
Insurance – 2.7%
 
 
                   
  61,843    
American International Group, Inc.
                205,937  
  52,053    
Arthur J. Gallagher & Co.
                1,335,680  
  52,891    
Fidelity National Title Group Inc., Class A
                777,498  
  36,741    
Lincoln National Corporation
                1,572,882  
  21,461    
Marsh & McLennan Companies, Inc.
                681,601  
  17,648    
Mercury General Corporation
                966,228  
  8,881    
Prudential Financial, Inc.
                639,432  
  16,400    
Travelers Companies, Inc.
                741,280  
  13,560    
Unitrin, Inc.
                338,186  
 
 
Total Insurance
                7,258,724  
   
 
 
                   
 
Internet & Catalog Retail – 0.4%
 
 
                   
  14,348    
Amazon.com, Inc., (2)
                1,043,960  
 
 
 
                   
 
Internet Software & Services – 1.6%
 
 
                   
  29,263    
eBay Inc., (2)
                654,906  
  6,671    
Google Inc., Class A, (2)
                2,671,869  
  29,461    
United Online, Inc.
                277,228  
  40,985    
Yahoo! Inc., (2)
                709,041  
 
 
Total Internet Software & Services
                4,313,044  
   
 
 
                   
 
IT Services – 0.6%
 
 
                   
  27,033    
Automatic Data Processing, Inc.
                1,155,661  
  5,374    
Fidelity National Information Services
                99,204  
  2,687    
Lender Processing Services Inc.
                82,007  
  18,017    
Standard Register Company
                177,467  
 
 
Total IT Services
                1,514,339  
   
 
 
                   
 
Leisure Equipment & Products – 0.7%
 
 
                   
  21,206    
Eastman Kodak Company
                326,148  
  70,793    
Mattel, Inc.
                1,277,106  
  8,000    
Polaris Industries Inc.
                363,920  
 
 
Total Leisure Equipment & Products
                1,967,174  
   
 
 
                   
 
Life Sciences Tools & Services – 0.0%
 
 
                   
  470    
Covance, Inc., (2)
                41,553  
 
 
 
                   
 
Machinery – 1.7%
 
 
                   
  22,658    
Briggs & Stratton Corporation
                366,606  
  30,000    
Caterpillar Inc.
                1,788,000  
  3,916    
Cummins Inc.
                171,208  
  19,204    
Deere & Company
                950,598  
  11,436    
Illinois Tool Works Inc.
                508,330  
  22,211    
Ingersoll Rand Company Limited, Class A
                692,317  
  3,000    
Pentair, Inc.
                103,710  
 
 
Total Machinery
                4,580,769  
   
 
 
                   
 
Media – 1.4%
 
 
                   
  54,234    
Comcast Corporation, Class A
                1,064,613  
  3,404    
Entercom Communications Corporation
                17,088  
  5,070    
Lamar Advertising Company, (2)
                156,612  
  51,178    
New York Times, Class A
                731,334  
  76,486    
Regal Entertainment Group, Class A
                1,206,949  
  110,328    
Sirius XM Radio Inc., (2)
                62,887  
  38,305    
World Wrestling Entertainment Inc.
                592,195  
 
 
Total Media
                3,831,678  
   
 
 
                   
 
Metals & Mining – 0.8%
 
 
                   
  18,415    
Companhia Siderurgica Nacional S.A., Sponsored ADR
                391,503  
  4,587    
CONSOL Energy Inc.
                210,497  
  11,210    
Freeport-McMoRan Copper & Gold, Inc.
                637,289  
  523    
Mittal Steel Company NV
                25,826  
  32,078    
Southern Copper Corporation
                612,048  
  2,132    
United States Steel Corporation
                165,465  
 
 
Total Metals & Mining
                2,042,628  
   
 
 
                   
 
Multiline Retail – 0.4%
 
 
                   
  7,921    
Nordstrom, Inc.
                228,283  
  18,838    
Target Corporation
                924,004  
 
 
Total Multiline Retail
                1,152,287  
   
 
 
                   
 
Multi-Utilities – 1.8%
 
 
                   
  26,500    
CenterPoint Energy, Inc.
                386,105  
  25,128    
Dominion Resources, Inc.
                1,074,976  
  76,000    
Duke Energy Corporation
                1,324,680  
  33,554    
Integrys Energy Group, Inc.
                1,675,687  
  10,500    
ONEOK, Inc.
                361,200  
 
 
Total Multi-Utilities
                4,822,648  
   
 
 
                   
 
Oil, Gas & Consumable Fuels – 11.2%
 
 
                   
  10,461    
Chesapeake Energy Corporation
                375,131  
  68,900    
Chevron Corporation
                5,682,872  
  43,011    
ConocoPhillips
                3,150,556  
  4,036    
EOG Resources, Inc.
                361,061  
  176,981    
Exxon Mobil Corporation
                13,744,344  
  9,247    
Frontline Limited
                444,503  
  5,281    
Hess Corporation
                433,464  
  20,290    
Marathon Oil Corporation
                808,962  
  36,819    
Occidental Petroleum Corporation
                2,593,899  
  6,941    
Peabody Energy Corporation
                312,345  
  30,750    
Ship Financial International Limited
                662,970  
  12,114    
Southwestern Energy Company, (2)
                369,962  
  36,647    
StatoilHydro ASA, Sponsored ADR
                872,199  
  4,254    
Valero Energy Corporation
                128,896  
  8,351    
XTO Energy, Inc.
                388,489  
 
 
Total Oil, Gas & Consumable Fuels
                30,329,653  
   
 
 
                   
 
Paper & Forest Products – 0.7%
 
 
                   
  31,000    
Weyerhaeuser Company
                1,877,980  
 
 
 
                   
 
Personal Products – 0.4%
 
 
                   
  23,000    
Avon Products, Inc.
                956,110  
 
 
 
                   
 
Pharmaceuticals – 8.6%
 
 
                   
  65,000    
Abbott Laboratories
                3,742,700  
  1,126    
AstraZeneca Group, Sponsored ADR
                49,409  
  136,126    
Bristol-Myers Squibb Company
                2,838,227  
  30,800    
Eli Lilly and Company
                1,356,124  
  86,663    
Johnson & Johnson
                6,004,013  
  89,562    
Merck & Co. Inc.
                2,826,577  
  235,000    
Pfizer Inc.
                4,333,400  
  10,693    
Sanofi-Aventis, Sponsored ADR
                351,479  
  34,752    
Schering-Plough Corporation
                641,869  
  1,180    
Teva Pharmaceutical Industries Limited, Sponsored ADR
                54,032  
  29,480    
Wyeth
                1,088,991  
 
 
Total Pharmaceuticals
                23,286,821  
   
 
 
                   
 
Real Estate Investment Trust – 2.0%
 
 
                   
  8,193    
Ashford Hospitality Trust Inc.
                33,182  
  40,525    
Brandywine Realty Trust
                649,616  
  27,744    
CapLease Inc.
                220,010  
  18,248    
Hospitality Properties Trust
                374,449  
  62,544    
Lexington Corporate Properties Trust
                1,077,008  
  53,300    
Nationwide Health Properties, Inc.
                1,917,734  
  20,000    
Senior Housing Properties Trust
                476,600  
  51,252    
U-Store-It Trust
                628,862  
 
 
Total Real Estate Investment Trust
                5,377,461  
   
 
 
                   
 
Road & Rail – 0.8%
 
 
                   
  39,500    
CSX Corporation
                2,155,515  
 
 
 
                   
 
Semiconductors & Equipment – 2.4%
 
 
                   
  31,000    
Analog Devices, Inc.
                816,850  
  35,573    
Applied Materials, Inc.
                538,219  
  171,768    
Intel Corporation
                3,217,215  
  36,128    
Microchip Technology Incorporated
                1,063,247  
  20,469    
NVIDIA Corporation, (2)
                219,223  
  28,464    
Texas Instruments Incorporated
                611,976  
 
 
Total Semiconductors & Equipment
                6,466,730  
   
 
 
                   
 
Software – 3.7%
 
 
                   
  16,693    
Adobe Systems Incorporated, (2)
                658,873  
  4,723    
Akamai Technologies, Inc., (2)
                82,369  
  6,711    
Autodesk, Inc., (2)
                225,154  
  8,586    
Cognizant Technology Solutions Corporation, Class A, (2)
                196,018  
  233,666    
Microsoft Corporation
                6,236,546  
  107,815    
Oracle Corporation, (2)
                2,189,723  
  4,207    
Salesforce.com, Inc., (2)
                203,619  
  11,068    
VeriSign, Inc., (2)
                288,653  
 
 
Total Software
                10,080,955  
   
 
 
                   
 
Specialty Retail – 1.7%
 
 
                   
  6,450    
Abercrombie & Fitch Co., Class A
                254,453  
  25,500    
American Eagle Outfitters, Inc.
                388,875  
  10,075    
Best Buy Co., Inc.
                377,813  
  14,956    
Gap, Inc.
                265,918  
  63,870    
Home Depot, Inc.
                1,653,594  
  11,072    
Limited Brands, Inc.
                191,767  
  25,280    
Lowe’s Companies, Inc.
                598,883  
  7,300    
Sherwin-Williams Company
                417,268  
  8,263    
Talbots, Inc.
                108,245  
  2,993    
Tiffany & Co.
                106,311  
  12,000    
TJX Companies, Inc.
                366,240  
 
 
Total Specialty Retail
                4,729,367  
   
 
 
                   
 
Textiles, Apparel & Luxury Goods – 0.6%
 
 
                   
  1,014    
Cherokee Inc.
                22,288  
  19,758    
VF Corporation
                1,527,491  
 
 
Total Textiles, Apparel & Luxury Goods
                1,549,779  
   
 
 
                   
 
Thrifts & Mortgage Finance – 0.4%
 
 
                   
  58,864    
New York Community Bancorp, Inc.
                988,327  
 
 
 
                   
 
Tobacco – 2.2%
 
 
                   
  65,586    
Altria Group, Inc.
                1,301,226  
  43,273    
Philip Morris International
                2,081,431  
  3,000    
Reynolds American Inc.
                145,860  
  28,638    
UST Inc.
                1,905,573  
  35,638    
Vector Group Ltd.
                629,367  
 
 
Total Tobacco
                6,063,457  
   
 
 
                   
 
Trading Companies & Distributors – 0.1%
 
 
                   
  2,380    
W.W. Grainger, Inc.
                206,989  
 
 
 
                   
 
Wireless Telecommunication Services – 0.2%
 
 
                   
  32,000    
Vodafone Group PLC, Sponsored ADR
                707,200  
 
 
Total Common Stocks (cost $272,389,981)
                261,831,369  
   
                             
Principal                        
Amount (000)     Description (1)   Coupon   Maturity       Value  
 
 
 
                   
 
Short-Term Investments – 5.9%
 
 
                   
$ 15,849    
Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/08, repurchase price $15,849,446, collateralized by $12,385,000 U.S. Treasury Bonds, 5.500%, due 8/15/28, value $14,521,413, $990,000 U.S. Treasury Bonds, 6.250%, due 5/15/30, value $1,296,900, $35,000 U.S. Treasury Bonds, 5.375%, due 2/15/31, value $41,038, $295,000 U.S. Treasury Bonds, 4.500%, due 2/15/36, value $312,700
  0.100%   10/01/08       $ 15,849,402  
   
       
Total Short-Term Investments (cost $15,849,402)
                15,849,402  
   
 
Total Investments (cost $288,239,383) – 102.7%
                277,680,771  
   
                             
Number of         Notional   Expiration   Strike      
Contracts     Type   Amount (3)   Date   Price   Value  
 
 
 
                   
 
Call Options Written – (0.6)% (4)
 
 
                   
  (231 )  
S&P 500 Index
$ (28,875,000 ) 10/18/08 $ 1,250   $ (219,450 )
  (215 )  
S&P 500 Index
  (27,412,500 ) 10/18/08   1,275     (113,950 )
  (197 )  
S&P 500 Index
  (25,610,000 ) 10/18/08   1,300     (54,175 )
  (254 )  
S&P 500 Index
  (33,655,000 ) 10/18/08   1,325     (34,290 )
  (229 )  
S&P 500 Index
  (28,625,000 ) 11/22/08   1,250     (534,715 )
  (197 )  
S&P 500 Index
  (25,117,500 ) 11/22/08   1,275     (321,110 )
  (215 )  
S&P 500 Index
  (27,950,000 ) 11/22/08   1,300     (236,500 )
  (228 )  
S&P 500 Index
  (30,210,000 ) 11/22/08   1,325     (161,880 )
 
  (1,766 )  
Total Call Options Written (premium received $6,667,155)
  (227,455,000 )           (1,676,070 )
 
 
Other Assets Less Liabilities – (2.1)%
                (5,582,799 )
   
 
Net Assets – 100%
              $ 270,421,902  
   
     
 (1)  
All percentages shown in the Portfolio of Investments are based on net assets unless otherwise noted.
   
 
 (2)  
Non-income producing.
   
 
 (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.
   
 
 
Fair Value Measurements
During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No. 157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about 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 September 30, 2008:
                                 
    Level 1     Level 2     Level 3     Total
Investments
  $ 277,680,771     $     $     $ 277,680,771  
Options written
    (1,676,070 )                 (1,676,070 )
                                 
Total
  $ 276,004,701     $     $     $ 276,004,701  
                                 
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 value of the Fund.
At September 30, 2008, the cost of investments was $288,239,383.
Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2008, were as follows:
         
 
 
       
Gross unrealized:
       
Appreciation
  $ 26,256,742  
Depreciation
    (36,815,354 )
 
       
 
 
       
Net unrealized appreciation (depreciation) of investments
  $ (10,558,612 )
 
       
 


Table of Contents

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.

 


Table of Contents

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 and Growth Fund
         
     
By (Signature and Title)*  /s/ Kevin J. McCarthy    
  Kevin J. McCarthy  
  Vice President and Secretary   
 
Date November 28, 2008
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 November 28, 2008
         
     
By (Signature and Title)*  /s/ Stephen D. Foy    
  Stephen D. Foy   
  Vice President and Controller (principal financial officer)   
 
Date November 28, 2008
 
*   Print the name and title of each signing officer under his or her signature.