N-Q 1 d376277dnq.htm NUVEEN CORE EQUITY ALPHA FUND Nuveen Core Equity Alpha Fund

 

 

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 811-22003

Nuveen Core Equity Alpha Fund

(Exact name of registrant as specified in charter)

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman—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:       December 31      

Date of reporting period:  March 31, 2017  

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

 

 


JCE

 

Nuveen Core Equity Alpha Fund

  

Portfolio of Investments

   March 31, 2017 (Unaudited)

 

Shares     Description (1)                           Value  
 

LONG-TERM INVESTMENTS – 97.9%

          
 

COMMON STOCKS – 97.9%

          
      Aerospace & Defense – 5.7%                           
  9,900    

General Dynamics Corporation

           $ 1,853,280  
  11,700    

Lockheed Martin Corporation

             3,130,920  
  15,100    

Northrop Grumman Corporation

             3,591,384  
  18,300    

Raytheon Company

             2,790,750  
  7,300    

Rockwell Collins, Inc.

             709,268  
  7,100    

TransDigm Group Inc., (2)

                               1,563,136  
 

Total Aerospace & Defense

                               13,638,738  
      Air Freight & Logistics – 0.5%                           
  21,600    

Expeditors International of Washington, Inc.

                               1,220,184  
      Airlines – 2.7%                           
  14,100    

Alaska Air Group, Inc.

             1,300,302  
  25,500    

American Airlines Group Inc.

             1,078,650  
  5,800    

Delta Air Lines, Inc.

             266,568  
  12,200    

Southwest Airlines Co.

             655,872  
  43,700    

United Continental Holdings Inc., (2)

                               3,086,968  
 

Total Airlines

                               6,388,360  
      Banks – 7.4%                           
  13,800    

Bank of America Corporation

             325,542  
  21,500    

BB&T Corporation

             961,050  
  83,200    

Citizens Financial Group Inc.

             2,874,560  
  20,100    

Comerica Incorporated

             1,378,458  
  109,700    

Fifth Third Bancorp., (3)

             2,786,380  
  96,400    

Huntington BancShares Inc.

             1,290,796  
  127,100    

KeyCorp., (3)

             2,259,838  
  4,300    

M&T Bank Corporation

             665,339  
  38,500    

People’s United Financial, Inc.

             700,700  
  11,400    

PNC Financial Services Group, Inc.

             1,370,736  
  123,200    

Regions Financial Corporation

             1,790,096  
  6,400    

SunTrust Banks, Inc.

             353,920  
  700    

U.S. Bancorp

             36,050  
  23,600    

Zions Bancorporation

                               991,200  
 

Total Banks

                               17,784,665  
      Beverages – 1.6%                           
  22,300    

Constellation Brands, Inc., Class A

             3,614,161  
  600    

Dr. Pepper Snapple Group, (3)

             58,752  
  1,600    

Molson Coors Brewing Company, Class B

             153,136  
  600    

PepsiCo, Inc.

                               67,116  
 

Total Beverages

                               3,893,165  
      Biotechnology – 0.3%                           
  6,700    

Alexion Pharmaceuticals Inc., (2)

                               812,308  
      Capital Markets – 5.8%                           
  10,100    

Bank New York Mellon

             477,023  
  1,800    

CBOE Holdings Inc.

             145,926  
  31,800    

Charles Schwab Corporation

             1,297,758  
  18,900    

CME Group, Inc., (3)

             2,245,320  
  32,600    

E*TRADE Group Inc., (2)

             1,137,414  
  7,700    

Goldman Sachs Group, Inc.

             1,768,844  

 

NUVEEN     1  


JCE    Nuveen Core Equity Alpha Fund   
   Portfolio of Investments (continued)    March 31, 2017 (Unaudited)

 

Shares     Description (1)                           Value  
      Capital Markets (continued)                           
  87,300    

Morgan Stanley

           $ 3,739,932  
  12,800    

Northern Trust Corporation

             1,108,224  
  23,200    

State Street Corporation

                               1,846,952  
 

Total Capital Markets

                               13,767,393  
      Chemicals – 0.9%                           
  2,600    

Albemarle Corporation

             274,664  
  8,900    

CF Industries Holdings, Inc.

             261,215  
  12,200    

Dow Chemical Company

             775,188  
  4,700    

E.I. Du Pont de Nemours and Company

             377,551  
  5,100    

FMC Corporation

                               354,909  
 

Total Chemicals

                               2,043,527  
      Commercial Services & Supplies – 1.4%                           
  25,900    

Republic Services, Inc.

             1,626,779  
  24,900    

Waste Management, Inc.

                               1,815,708  
 

Total Commercial Services & Supplies

                               3,442,487  
      Communications Equipment – 0.8%                           
  17,100    

Harris Corporation

             1,902,717  
  1,100    

Motorola Solutions Inc.

                               94,842  
 

Total Communications Equipment

                               1,997,559  
      Construction & Engineering – 0.4%                           
  22,900    

Quanta Services Incorporated, (2)

                               849,819  
      Construction Materials – 0.1%                           
  1,200    

Martin Marietta Materials

                               261,900  
      Consumer Finance – 0.6%                           
  10,500    

Capital One Financial Corporation

             909,930  
  1,200    

Discover Financial Services

             82,068  
  12,900    

Synchrony Financial

                               442,470  
 

Total Consumer Finance

                               1,434,468  
      Containers & Packaging – 0.2%                           
  4,800    

International Paper Company

             243,744  
  6,200    

WestRock Company, (3)

                               322,586  
 

Total Containers & Packaging

                               566,330  
      Diversified Consumer Services – 0.3%                           
  28,300    

H & R Block Inc.

                               657,975  
      Electric Utilities – 3.7%                           
  25,000    

Alliant Energy Corporation

             990,250  
  7,700    

Edison International

             612,997  
  10,000    

Entergy Corporation

             759,600  
  22,800    

Exelon Corporation

             820,344  
  16,200    

FirstEnergy Corp.

             515,484  
  6,400    

NextEra Energy Inc.

             821,568  
  7,000    

PG&E Corporation

             464,520  
  7,200    

Pinnacle West Capital Corporation

             600,336  
  10,100    

PPL Corporation

             377,639  
  42,000    

Southern Company

             2,090,760  
  18,100    

Xcel Energy, Inc.

                               804,545  
 

Total Electric Utilities

                               8,858,043  
      Electronic Equipment, Instruments & Components – 1.5%                           
  46,300    

Amphenol Corporation, Class A

             3,295,171  
  6,600    

Corning Incorporated

             178,200  

 

  2     NUVEEN


Shares     Description (1)                           Value  
      Electronic Equipment, Instruments & Components (continued)                           
  1,500    

TE Connectivity Limited

                             $ 111,825  
 

Total Electronic Equipment, Instruments & Components

                               3,585,196  
      Energy Equipment & Services – 3.5%                           
  62,800    

Baker Hughes Incorporated

             3,756,696  
  40,400    

Halliburton Company

             1,988,084  
  2,800    

Schlumberger Limited

             218,680  
  77,000    

TechnipFMC PLC, (2)

                               2,502,500  
 

Total Energy Equipment & Services

                               8,465,960  
      Equity Real Estate Investment Trusts – 3.4%                           
  16,100    

Apartment Investment & Management Company, Class A

             714,035  
  4,200    

AvalonBay Communities, Inc.

             771,120  
  3,543    

Equinix Inc.

             1,418,511  
  5,800    

Equity Residential

             360,876  
  4,800    

Essex Property Trust Inc.

             1,111,344  
  1,300    

Mid-America Apartment Communities

             132,262  
  58,900    

Prologis Inc.

             3,055,732  
  17,200    

UDR Inc.

                               623,672  
 

Total Equity Real Estate Investment Trusts

                               8,187,552  
      Food & Staples Retailing – 0.1%                           
  4,600    

Sysco Corporation

                               238,832  
      Food Products – 3.5%                           
  57,400    

Archer-Daniels-Midland Company

             2,642,696  
  3,000    

Campbell Soup Company

             171,720  
  34,800    

ConAgra Foods, Inc.

             1,403,832  
  15,000    

Kraft Heinz Company

             1,362,150  
  46,700    

Tyson Foods, Inc., Class A

                               2,881,857  
 

Total Food Products

                               8,462,255  
      Health Care Equipment & Supplies – 2.1%                           
  7,300    

Baxter International, Inc.

             378,578  
  3,200    

C. R. Bard, Inc.

             795,328  
  2,400    

Cooper Companies, Inc.

             479,736  
  19,500    

Hologic Inc., (2)

             829,725  
  1,800    

Intuitive Surgical, Inc., (2)

             1,379,646  
  7,600    

Stryker Corporation

             1,000,540  
  2,400    

Varian Medical Systems, Inc., (2)

                               218,712  
 

Total Health Care Equipment & Supplies

                               5,082,265  
      Health Care Providers & Services – 2.3%                           
  24,700    

Quest Diagnostics Incorporated

             2,425,293  
  18,200    

UnitedHealth Group Incorporated

                               2,984,982  
 

Total Health Care Providers & Services

                               5,410,275  
      Hotels, Restaurants & Leisure – 0.8%                           
  1,700    

Carnival Corporation

             100,147  
  1,300    

Darden Restaurants, Inc.

             108,771  
  2,600    

Marriott International, Inc., Class A

             244,868  
  10,500    

Wynn Resorts Ltd

             1,203,405  
  2,700    

YUM! Brands, Inc.

                               172,530  
 

Total Hotels, Restaurants & Leisure

                               1,829,721  
      Household Products – 0.1%                           
  3,100    

Procter & Gamble Company

                               278,535  
      Insurance – 8.8%                           
  4,200    

Ace Limited

             572,250  

 

NUVEEN     3  


JCE    Nuveen Core Equity Alpha Fund   
   Portfolio of Investments (continued)    March 31, 2017 (Unaudited)

 

Shares     Description (1)                           Value  
      Insurance (continued)                           
  27,400    

AFLAC Incorporated

           $ 1,984,308  
  5,000    

Allstate Corporation

             407,450  
  3,200    

American International Group, Inc.

             199,776  
  200    

AON PLC

             23,738  
  27,600    

Arthur J. Gallagher & Co.

             1,560,504  
  600    

Assurant Inc.

             57,402  
  11,700    

Cincinnati Financial Corporation

             845,559  
  32,900    

Hartford Financial Services Group, Inc.

             1,581,503  
  35,500    

Lincoln National Corporation

             2,323,475  
  12,700    

Loews Corporation

             593,979  
  48,800    

MetLife, Inc.

             2,577,616  
  42,200    

Principal Financial Group, Inc.

             2,663,242  
  22,400    

Prudential Financial, Inc.

             2,389,632  
  16,600    

Torchmark Corporation

             1,278,864  
  5,900    

Travelers Companies, Inc.

             711,186  
  27,600    

Unum Group

             1,294,164  
  2,700    

XL Group Limited

                               107,622  
 

Total Insurance

                               21,172,270  
      Internet and Direct Marketing Retail – 1.6%                           
  500    

Amazon.com, Inc., (2)

             443,270  
  4,300    

Expedia, Inc.

             542,531  
  19,500    

Netflix.com Inc., (2)

                               2,882,295  
 

Total Internet and Direct Marketing Retail

                               3,868,096  
      Internet Software & Services – 0.9%                           
  26,600    

Akamai Technologies, Inc., (2)

             1,588,020  
  16,500    

eBay Inc., (2)

                               553,905  
 

Total Internet Software & Services

                               2,141,925  
      IT Services – 2.4%                           
  10,300    

Automatic Data Processing, Inc.

             1,054,617  
  17,400    

CSRA Inc.

             509,646  
  5,900    

Fiserv, Inc., (2)

             680,329  
  15,800    

MasterCard, Inc.

             1,777,026  
  31,000    

Paychex, Inc.

                               1,825,900  
 

Total IT Services

                               5,847,518  
      Life Sciences Tools & Services – 0.9%                           
  11,700    

Illumina Inc., (2)

             1,996,488  
  200    

Mettler-Toledo International Inc., (2)

                               95,782  
 

Total Life Sciences Tools & Services

                               2,092,270  
      Machinery – 0.4%                           
  3,300    

Cummins Inc.

             498,960  
  4,900    

Deere & Company

                               533,414  
 

Total Machinery

                               1,032,374  
      Media – 1.9%                           
  39,500    

CBS Corporation, Class B

             2,739,720  
  18,000    

Interpublic Group of Companies, Inc.

             442,260  
  3,400    

Scripps Networks Interactive, Class A Shares

             266,458  
  8,000    

Time Warner Inc.

             781,680  
  2,200    

Twenty First Century Fox Inc., Class A Shares

             71,258  
  7,500    

Twenty First Century Fox Inc., Class B Shares

                               238,350  
 

Total Media

                               4,539,726  
      Metals & Mining – 0.8%                           
  6,800    

Freeport-McMoRan, Inc.

             90,848  
  54,100    

Newmont Mining Corporation

                               1,783,136  
 

Total Metals & Mining

                               1,873,984  

 

  4     NUVEEN


Shares     Description (1)                           Value  
      Multi-Utilities – 4.0%                           
  21,600    

Ameren Corporation

           $ 1,179,144  
  57,900    

CenterPoint Energy, Inc.

             1,596,303  
  4,700    

Consolidated Edison, Inc.

             365,002  
  23,400    

Dominion Resources, Inc.

             1,815,138  
  16,900    

DTE Energy Company

             1,725,659  
  23,400    

Scana Corporation

             1,529,190  
  2,800    

Sempra Energy

             309,400  
  15,600    

WEC Energy Group, Inc.

                               945,828  
 

Total Multi-Utilities

                               9,465,664  
      Oil, Gas & Consumable Fuels – 6.4%                           
  24,400    

Anadarko Petroleum Corporation

             1,512,800  
  24,500    

Apache Corporation

             1,259,055  
  101,800    

Chesapeake Energy Corporation

             604,692  
  6,500    

Chevron Corporation

             697,905  
  5,200    

EOG Resources, Inc.

             507,260  
  17,800    

Marathon Petroleum Corporation

             899,612  
  27,900    

Noble Energy, Inc.

             958,086  
  28,600    

ONEOK, Inc.

             1,585,584  
  13,200    

Phillips 66

             1,045,704  
  3,700    

Pioneer Natural Resources Company

             689,051  
  13,200    

Tesoro Corporation

             1,069,992  
  17,100    

Valero Energy Corporation

             1,133,559  
  112,500    

Williams Companies Inc.

                               3,328,875  
 

Total Oil, Gas & Consumable Fuels

                               15,292,175  
      Pharmaceuticals – 0.1%                           
  2,900    

Zoetis Incorporated, (3)

                               154,773  
      Professional Services – 0.7%                           
  7,800    

Equifax Inc.

             1,066,572  
  7,300    

Robert Half International Inc.

             356,459  
  2,900    

Verisk Analytics Inc., Class A Shares, (2)

                               235,306  
 

Total Professional Services

                               1,658,337  
      Road & Rail – 1.4%                           
  62,600    

CSX Corporation

             2,914,030  
  4,600    

J.B. Hunt Transports Services Inc.

                               422,004  
 

Total Road & Rail

                               3,336,034  
      Semiconductors & Semiconductor Equipment – 11.3%                           
  6,625    

Analog Devices, Inc.

             542,919  
  114,200    

Applied Materials, Inc., (3)

             4,442,380  
  144    

Broadcom Limited

             31,530  
  59,900    

Intel Corporation

             2,160,593  
  4,900    

KLA-Tencor Corporation

             465,843  
  23,400    

Lam Research Corporation

             3,003,624  
  1,300    

Microchip Technology Incorporated

             95,914  
  98,600    

Micron Technology, Inc., (2), (3)

             2,849,540  
  69,500    

NVIDIA Corporation, (3)

             7,570,634  
  52,300    

QUALCOMM, Inc.

             2,998,882  
  7,200    

Skyworks Solutions Inc.

             705,456  
  36,800    

Xilinx, Inc.

                               2,130,352  
 

Total Semiconductors & Semiconductor Equipment

                               26,997,667  
      Software – 2.9%                           
  38,800    

Activision Blizzard Inc.

             1,934,568  
  15,200    

Adobe Systems Incorporated, (2), (3)

             1,977,976  
  2,200    

Autodesk, Inc., (2)

             190,234  
  16,600    

Electronic Arts Inc., (2)

             1,486,032  

 

NUVEEN     5  


JCE    Nuveen Core Equity Alpha Fund   
   Portfolio of Investments (continued)    March 31, 2017 (Unaudited)

 

Shares     Description (1)                           Value  
      Software (continued)                           
  40,400    

Symantec Corporation, (3)

                             $ 1,239,472  
 

Total Software

                               6,828,282  
      Specialty Retail – 1.0%                           
  1,800    

Best Buy Co., Inc.

             88,470  
  17,800    

Ross Stores, Inc.

             1,172,486  
  12,700    

Tiffany & Co.

                               1,210,310  
 

Total Specialty Retail

                               2,471,266  
      Technology Hardware, Storage & Peripherals – 2.0%                           
  2,900    

Apple, Inc.

             416,614  
  105,100    

Hewlett Packard Enterprise Company

             2,490,870  
  18,000    

HP Inc.

             321,840  
  17,400    

Seagate Technology

             799,182  
  8,400    

Western Digital Corporation

                               693,252  
 

Total Technology Hardware, Storage & Peripherals

                               4,721,758  
      Tobacco – 0.4%                           
  9,200    

Altria Group, Inc.

             657,064  
  3,400    

Reynolds American Inc.

                               214,268  
 

Total Tobacco

                               871,332  
      Trading Companies & Distributors – 0.1%                           
  1,200    

United Rentals Inc., (2)

                               150,060  
      Water Utilities – 0.2%                           
  7,300    

American Water Works Company

                               567,721  
 

Total Long-Term Investments (cost $205,524,785)

                               234,240,744  
Principal
Amount (000)
    Description   Coupon      Maturity      Ratings (4)      Value  
 

SHORT-TERM INVESTMENTS – 4.1%

          
      REPURCHASE AGREEMENTS – 3.1%                           
$ 7,318    

Repurchase Agreement with Fixed Income Clearing Corporation,
dated 3/31/17, repurchase price $7,317,961,
collateralized by $7,315,000 U.S. Treasury Bonds,
3.125%, due 8/15/44, value $7,473,092

    0.090%        4/03/17        N/A      $ 7,317,906  
      U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.0%                           
  2,500    

U.S. Treasury Bills, (3)

    0.000%        7/20/17        AAA        2,494,263  
$ 9,818    

Total Short-Term Investments (cost $9,813,238)

                               9,812,169  
 

Total Investments (cost $215,338,023) – 102.0%

                               244,052,913  
 

Other Assets Less Liabilities – (2.0)%, (5)

                               (4,704,059
 

Net Assets – 100%

                             $ 239,348,854  

Investments in Derivatives as of March 31, 2017

Options Written

 

Number of
Contracts
       Description      Notional
Amount (6)
       Expiration
Date
       Strike
Price
       Value  
  (314     

RUSSELL 2000® Index

     $ (44,902,000        4/21/17        $ 1,430        $ (69,080
  (60     

RUSSELL 2000® Index

       (8,460,000        5/19/17          1,410          (112,500
  (50     

RUSSELL 2000® Index

       (7,100,000        5/19/17          1,420          (74,000
  (75     

RUSSELL 2000® Index

       (10,725,000        5/19/17          1,430          (81,597
  (499     

Total Options Written (premiums received $506,770)

     $ (71,187,000                            $ (337,177

 

  6     NUVEEN


Futures Contracts

 

Description      Contract
Position
       Number of
Contracts
       Contract
Expiration
       Notional
Amount
at Value
      

Variation

Margin
Receivable/

(Payable)

       Unrealized
Appreciation
(Depreciation)
 

S&P 500 E-Mini

       Long          44          6/17        $ 5,190,240        $ (11,880      $ (10,006

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies 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 the end of the reporting period:

 

      Level 1      Level 2      Level 3      Total  

Long-Term Investments:

           

Common Stocks

   $ 234,240,744      $      $      $ 234,240,744  

Short-Term Investments:

           

Repurchase Agreements

            7,317,906               7,317,906  

U.S. Government and Agency Obligations

            2,494,263               2,494,263  

Investments in Derivatives:

           

Options Written

     (337,177                    (337,177

Futures Contracts*

     (10,006                    (10,006

Total

   $ 233,893,561      $ 9,812,169      $      $ 243,705,730  
* Represents net unrealized appreciation (depreciation).

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 certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on futures contracts and certain options 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.

As of March 31, 2017, the cost of investments (excluding investments in derivatives) was $215,338,123.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2017, were as follows:

 

Gross unrealized:

          

Appreciation

     $ 30,671,137  

Depreciation

       (1,956,347

Net unrealized appreciation (depreciation) of investments

     $ 28,714,790  

 

NUVEEN     7  


JCE    Nuveen Core Equity Alpha Fund   
   Portfolio of Investments (continued)    March 31, 2017 (Unaudited)

 

 

For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.

 

(1) All percentages shown 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) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.

 

(4) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

 

(5) Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC cleared and exchange-traded derivatives, when applicable. Other assets less liabilities also includes the value of options.

 

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

 

N/A Not Applicable

 

  8     NUVEEN


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 Core Equity Alpha Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                           
   Gifford R. Zimmerman   
   Vice President and Secretary   

Date: May 30, 2017

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/ Cedric H. Antosiewicz                                                        
   Cedric H. Antosiewicz   
   Chief Administrative Officer (principal executive officer)   
Date: May 30, 2017      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: May 30, 2017