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 811-09453
 
Nuveen Michigan Dividend Advantage Municipal Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:             2/28          
 
Date of reporting period:          5/31/12         
 
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 Michigan Dividend Advantage Municipal Fund (NZW)
     
   
May 31, 2012
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Staples – 5.5% (3.6% of Total Investments)
     
$ 1,750
 
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds,
6/18 at 100.00
BB+
$ 1,711,990
   
Series 2008A, 6.875%, 6/01/42
     
   
Education and Civic Organizations – 11.8% (7.9% of Total Investments)
     
250
 
Conner Creek Academy East, Michigan, Public School Revenue Bonds, Series 2007, 5.250%, 11/01/36
11/16 at 100.00
BB–
201,360
85
 
Michigan Finance Authority, Public School Academy Limited Obligation Revenue and Refunding
10/21 at 100.00
BBB–
92,327
   
Bonds, Detroit Service Learning Academy Project, Series 2011, 7.000%, 10/01/31
     
1,150
 
Michigan Higher Education Facilities Authority, Limited Obligation Revenue Refunding Bonds,
9/12 at 100.00
N/R
1,125,827
   
Kettering University, Series 2001, 5.000%, 9/01/26 – AMBAC Insured
     
250
 
Michigan Public Educational Facilities Authority, Charter School Revenue Bonds, American
12/17 at 100.00
N/R
243,035
   
Montessori Academy, Series 2007, 6.500%, 12/01/37
     
1,500
 
Michigan State University, General Revenue Bonds, Refunding Series 2010C, 5.000%, 2/15/40
2/20 at 100.00
Aa1
1,651,275
350
 
Michigan Technological University, General Revenue and Refunding Bonds, Series 2012A,
10/21 at 100.00
Aa3
387,804
   
5.000%, 10/01/34
     
3,585
 
Total Education and Civic Organizations
   
3,701,628
   
Health Care – 16.1% (10.8% of Total Investments)
     
500
 
Grand Traverse County Hospital Financal Authority, Michigan, Revenue Bonds, Munson Healthcare,
7/21 at 100.00
AA–
534,020
   
Refunding Series 2011A, 5.000%, 7/01/29
     
90
 
Jackson County Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Alligiance
6/20 at 100.00
AA–
96,332
   
Health, Refunding Series 2010A, 5.000%, 6/01/37 – AGM Insured
     
   
Kent Hospital Finance Authority, Michigan, Revenue Refunding Bonds, Spectrum Health System,
     
   
Refunding Series 2011C:
     
500
 
5.000%, 1/15/31
1/22 at 100.00
AA
555,840
500
 
5.000%, 1/15/42
1/22 at 100.00
AA
539,380
250
 
Michigan Finance Authority, Revenue Bonds, Oakwood Obligated Group, Refunding Series 2012,
11/22 at 100.00
A
266,618
   
5.000%, 11/01/42
     
1,000
 
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011,
12/21 at 100.00
AA
1,087,870
   
5.000%, 12/01/39
     
   
Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System,
     
   
Refunding Series 2009:
     
150
 
5.000%, 11/15/20
11/19 at 100.00
A1
170,540
475
 
5.750%, 11/15/39
11/19 at 100.00
A1
526,348
150
 
Michigan State Hospital FInance Authority, Hospital Revenue Bonds,MidMichigan Obligated Group,
6/19 at 100.00
AA–
167,616
   
Series 2009A, 5.875%, 6/01/39 – AGC Insured
     
110
 
Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, McLaren
No Opt. Call
Aa3
110,070
   
Healthcare Corporation, Series 1998A, 5.000%, 6/01/28
     
   
Michigan State Hospital Finance Authority, Revenue Bonds, Marquette General Hospital,
     
   
Series 2005A:
     
500
 
5.000%, 5/15/26
5/15 at 100.00
Baa3
504,085
400
 
5.000%, 5/15/34
5/15 at 100.00
Baa3
392,156
100
 
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont
9/18 at 100.00
A1
128,034
   
Hospital, Refunding Series 2009V, 8.250%, 9/01/39
     
4,725
 
Total Health Care
   
5,078,909
   
Housing/Multifamily – 7.7% (5.1% of Total Investments)
     
1,700
 
Michigan Housing Development Authority, GNMA Collateralized Limited Obligation Multifamily
8/12 at 102.00
Aaa
1,738,437
   
Housing Revenue Bonds, Cranbrook Apartments, Series 2001A, 5.400%, 2/20/31 (Alternative
     
   
Minimum Tax)
     
370
 
Michigan Housing Development Authority, Multifamily Housing Revenue Bonds, Series 1988A,
11/14 at 101.00
AA
379,202
   
3.375%, 11/01/16 (Alternative Minimum Tax)
     
200
 
Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2006D, 5.125%,
7/15 at 100.00
AA
206,296
   
4/01/31 – AGM Insured (Alternative Minimum Tax)
     
100
 
Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2009A,
10/18 at 100.00
AA
108,029
   
5.700%, 10/01/39
     
2,370
 
Total Housing/Multifamily
   
2,431,964
   
Housing/Single Family – 2.9% (1.9% of Total Investments)
     
470
 
Michigan Housing Development Authority, Single Family Homeownership Revenue Bonds, Series
6/20 at 100.00
AA+
504,056
   
2010C, 5.500%, 12/01/28 (Alternative Minimum Tax)
     
375
 
Michigan Housing Development Authority, Single Family Homeownership Revenue Bonds, Series
6/21 at 100.00
AA+
410,280
   
2011A, 4.600%, 12/01/26
     
845
 
Total Housing/Single Family
   
914,336
   
Industrials – 1.6% (1.1% of Total Investments)
     
500
 
Michigan Strategic Fund, Limited Obligation Revenue Bonds, Republic Services Inc., Series
No Opt. Call
BBB
513,440
   
2001, 4.250%, 8/01/31 (Mandatory put 4/01/14) (Alternative Minimum Tax)
     
   
Tax Obligation/General – 36.0% (24.1% of Total Investments)
     
345
 
Ann Arbor Public School District, Washtenaw County, Michigan, General Obligation Bonds,
5/22 at 100.00
Aa2
409,167
   
Refunding Series 2012, 5.000%, 5/01/29
     
200
 
Ann Arbor, Michigan, General Obligation Bonds, Court & Police Facilities Capital Improvement
5/18 at 100.00
AA+
217,854
   
Series 2008, 5.000%, 5/01/38
     
500
 
Byron Center Public Schools, Kent County, Michigan, General Obligation Bonds, Series 2012,
5/21 at 100.00
AA–
508,895
   
4.000%, 5/01/33
     
437
 
Caledonia Community Schools, Kent, Allegan and Barry Counties, Michigan, General Obligation
5/17 at 100.00
Aa2
486,093
   
Bonds, Tender Option Bond Trust 2008-1096, 7.812%, 5/01/32 – NPFG Insured (IF)
     
   
Comstock Park Public Schools, Kent County, Michigan, General Obligation Bonds, School Building
     
   
& Site, Series 2011B:
     
150
 
5.500%, 5/01/36
5/21 at 100.00
AA–
170,405
290
 
5.500%, 5/01/41
5/21 at 100.00
AA–
328,271
50
 
Detroit-Wayne County Stadium Authority, Michigan, Limited Tax General Obligation Building
8/12 at 100.00
BBB+
50,137
   
Authority Stadium Bonds, Series 1997, 5.500%, 2/01/17 – FGIC Insured
     
300
 
Grand Rapids, Michigan, General Obligation Bonds, Capital Improvement Series 2007, 5.000%,
9/17 at 100.00
AA
329,052
   
9/01/27 – NPFG Insured
     
430
 
Lowell Area Schools, Kent and Ionia Counties, Michigan, General Obligation Bonds, Series 2007,
5/17 at 100.00
Aa2
455,602
   
5.000%, 5/01/37 – AGM Insured
     
100
 
Michigan Finance Authority, Revenue Bonds, Detroit City School District, Series 2012,
No Opt. Call
A+
112,541
   
5.000%, 6/01/20
     
500
 
Michigan State, General Obligation Bonds, Environmental Program, Refunidng Series 2011A,
12/21 at 100.00
Aa2
611,415
   
5.000%, 12/01/22
     
100
 
Michigan State, General Obligation Bonds, Environmental Program, Series 2009A, 5.500%, 11/01/25
5/19 at 100.00
Aa2
117,714
1,410
 
New Haven Community Schools, Macomb County, Michigan, General Obligation Bonds, Series 2006,
5/16 at 100.00
Aa2
1,528,919
   
5.000%, 5/01/25 – AGM Insured
     
420
 
Oakland Intermediate School District, Oakland County, Michigan, General Obligation Bonds,
5/17 at 100.00
Aaa
448,119
   
Series 2007, 5.000%, 5/01/36 – AGM Insured
     
1,000
 
Ottawa County, Michigan, Water Supply System, General Obligation Bonds, Series 2007, 5.000%,
8/17 at 100.00
Aaa
1,086,290
   
8/01/30 – NPFG Insured (UB)
     
235
 
Parchment School District, Kalamazoo County, Michigan, General Obligation Bonds, Tender Option
No Opt. Call
Aa2
264,854
   
Bond Trust 2836, 10.888%, 5/01/15 – AGM Insured (IF)
     
750
 
Plainwell Community Schools, Allegan County, Michigan, General Obligation Bonds, School
5/18 at 100.00
Aa2
827,543
   
Building & Site, Series 2008, 5.000%, 5/01/28 – AGC Insured
     
200
 
Rockford Public Schools, Kent County, Michigan, General Obligation Bonds, Refunding Series
No Opt. Call
AA–
243,900
   
2012, 5.000%, 5/01/19
     
100
 
Rockford Public Schools, Kent County, Michigan, General Obligation Bonds, Series 2008, 5.000%,
5/18 at 100.00
Aa2
108,424
   
5/01/33 – AGM Insured
     
25
 
South Haven, Van Buren County, Michigan, General Obligation Bonds, Capital Improvement Series
12/19 at 100.00
AA–
28,553
   
2009, 5.125%, 12/01/33 – AGC Insured
     
330
 
Thornapple Kellogg School District, Barry County, Michigan, General Obligation Bonds, Series
5/17 at 100.00
Aa2
352,556
   
2007, 5.000%, 5/01/32 – NPFG Insured
     
100
 
Trenton Public Schools District, Michigan, General Obligation Bonds, Series 2008, 5.000%,
5/18 at 100.00
Aa2
107,923
   
5/01/34 – AGM Insured
     
225
 
Van Dyke Public Schools, Macomb County, Michigan, General Obligation Bonds, School Building
5/18 at 100.00
Aa2
240,595
   
and Site, Series 2008, 5.000%, 5/01/38 – AGM Insured
     
65
 
Wayne Charter County, Michigan, General Obligation Bonds, Building Improvements, Series 2009A,
12/19 at 100.00
BBB+
73,979
   
6.750%, 11/01/39
     
1,690
 
Wayne Charter County, Michigan, Limited Tax General Obligation Airport Hotel Revenue Bonds,
12/12 at 100.00
BBB+
1,694,428
   
Detroit Metropolitan Wayne County Airport, Series 2001A, 5.000%, 12/01/30 – NPFG Insured
     
500
 
Wayne Westland Community Schools, Michigan, General Obligation Bonds, Series 2004, 5.000%,
11/14 at 100.00
Aa2
550,855
   
5/01/17 – AGM Insured
     
10,452
 
Total Tax Obligation/General
   
11,354,084
   
Tax Obligation/Limited – 18.8% (12.6% of Total Investments)
     
265
 
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42
1/22 at 100.00
A
287,541
   
Grand Rapids Building Authority, Kent County, Michigan, General Obligation Bonds, Refunding
     
   
Series 2011:
     
560
 
5.000%, 10/01/28
10/21 at 100.00
AA
624,714
500
 
5.000%, 10/01/30
10/21 at 100.00
AA
553,170
500
 
5.000%, 10/01/31
10/21 at 100.00
AA
551,090
330
 
Kalkaska County Hospital Authority, Michigan, Hospital Revenue Bonds, Series 2007,
No Opt. Call
A–
342,197
   
5.125%, 5/01/14
     
   
Michigan State Building Authority, Revenue Bonds, Refunding Series 2006IA:
     
1,520
 
0.000%, 10/15/28 – AGM Insured
10/16 at 55.35
AA–
700,781
720
 
5.000%, 10/15/36 – FGIC Insured
10/16 at 100.00
Aa3
758,772
   
Michigan State Trunk Line Fund Refunding Bonds, Series 2009:
     
1,160
 
4.000%, 11/15/32
11/21 at 100.00
AA+
1,214,427
150
 
5.000%, 11/15/36
11/21 at 100.00
AA+
171,285
700
 
Virgin Islands Public Finance Authority, Revenue Bonds, Senior Lien Matching Fund Loan
10/19 at 100.00
BBB+
721,392
   
Notes,Series 2009A-1, 5.000%, 10/01/39
     
6,405
 
Total Tax Obligation/Limited
   
5,925,369
   
Transportation – 2.6% (1.7% of Total Investments)
     
250
 
Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport,
No Opt. Call
A
255,018
   
Refunding Series 2007, 5.000%, 12/01/12 – FGIC Insured
     
500
 
Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport,
No Opt. Call
A
563,015
   
Refunding Series 2011A, 5.000%, 12/01/21 (Alternative Minimum Tax)
     
750
 
Total Transportation
   
818,033
   
U.S. Guaranteed – 15.9% (10.6% of Total Investments) (4)
     
720
 
Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2003A, 5.000%,
7/13 at 100.00
AA– (4)
756,857
   
7/01/17 (Pre-refunded 7/01/13) – AGM Insured
     
500
 
Jackson Public Schools, Jackson County, Michigan, General Obligation School Building and Site
5/14 at 100.00
Aa2 (4)
544,755
   
Bonds, Series 2004, 5.000%, 5/01/22 (Pre-refunded 5/01/14) – AGM Insured
     
775
 
Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Oakwood Obligated Group,
4/13 at 100.00
AA+ (4)
810,224
   
Series 2002A, 5.750%, 4/01/32 (Pre-refunded 4/01/13)
     
   
Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Trinity Health
     
   
Credit Group, Series 2002C:
     
85
 
5.375%, 12/01/30 (Pre-refunded 12/01/12)
12/12 at 100.00
Aa2 (4)
87,207
915
 
5.375%, 12/01/30 (Pre-refunded 12/01/12)
12/12 at 100.00
AA (4)
938,671
   
Michigan State Hospital Finance Authority, Revenue Bonds, Chelsea Community Hospital,
     
   
Series 2005:
     
425
 
5.000%, 5/15/30 (Pre-refunded 5/15/15)
5/15 at 100.00
AA+ (4)
480,675
335
 
5.000%, 5/15/37 (Pre-refunded 5/15/15)
5/15 at 100.00
AA+ (4)
378,885
   
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 2002E:
     
85
 
6.000%, 8/01/26 (ETM)
No Opt. Call
Baa2 (4)
121,385
615
 
6.000%, 8/01/26 (ETM)
No Opt. Call
AA+ (4)
878,257
4,455
 
Total U.S. Guaranteed
   
4,996,916
   
Utilities – 10.9% (7.3% of Total Investments)
     
1,115
 
Lansing Board of Water and Light, Michigan, Steam and Electric Utility System Revenue Bonds,
7/13 at 100.00
AA–
1,153,278
   
Series 2003A, 5.000%, 7/01/21 – AGM Insured
     
   
Lansing Board of Water and Light, Michigan, Steam and Electric Utility System Revenue Bonds,
     
   
Series 2008A:
     
50
 
5.000%, 7/01/28
7/18 at 100.00
AA–
54,953
750
 
5.000%, 7/01/32
7/18 at 100.00
AA–
812,213
   
Lansing Board of Water and Light, Michigan, Utility System Rvenue Bonds, Tender Option Bond
     
   
Trust 4700:
     
250
 
17.744%, 7/01/37 (IF) (5)
7/21 at 100.00
AA–
374,520
100
 
17.590%, 7/01/37 (IF) (5)
7/21 at 100.00
AA–
149,808
   
Michigan Public Power Agency, Revenue Bonds, Combustion Turbine 1 Project, Series 2011:
     
500
 
5.000%, 1/01/26 – AGM Insured
1/21 at 100.00
AA–
566,470
290
 
5.000%, 1/01/27 – AGM Insured
1/21 at 100.00
AA–
325,545
3,055
 
Total Utilities
   
3,436,787
   
Water and Sewer – 19.8% (13.3% of Total Investments)
     
1,000
 
Detroit Water Supply System, Michigan, Water Supply System Revenue Senior Lien Bonds, Series
7/16 at 100.00
AA–
1,014,510
   
2006A, 5.000%, 7/01/34 – AGM Insured
     
1,000
 
Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%,
No Opt. Call
A
1,125,560
   
7/01/29 – FGIC Insured
     
280
 
Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2003A, 5.000%,
7/13 at 100.00
AA–
290,396
   
7/01/17 – AGM Insured
     
490
 
Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien Series 2011A, 5.250%, 7/01/41
7/21 at 100.00
A+
505,151
125
 
Grand Rapids, Michigan, Sanitary Sewer System Revenue Bonds, Series 2008, 5.000%, 1/01/38
1/18 at 100.00
AA+
134,595
150
 
Grand Rapids, Michigan, Water Supply System Revenue Bonds, Series 2009, 5.100%, 1/01/39 –
1/19 at 100.00
AA
165,061
   
AGC Insured
     
140
 
Michigan Finance Authority, State Revolving Fund Revenue Bonds, Clean Water Series 2012,
10/22 at 100.00
AAA
165,054
   
5.000%, 10/01/32
     
1,000
 
Michigan Municipal Bond Authority, Clean Water Revolving Fund Revenue Bonds, Series 2005,
10/15 at 100.00
AAA
1,134,860
   
5.000%, 10/01/19
     
500
 
Michigan Municipal Bond Authority, Water Revolving Fund Revenue Bonds, Series 2007,
10/17 at 100.00
AAA
584,920
   
5.000%, 10/01/23
     
500
 
Port Huron, Michigan, Water Supply System Revenue Bonds, Series 2011, 5.250%, 10/01/31
10/21 at 100.00
A
544,800
500
 
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A,
7/18 at 100.00
Baa2
530,630
   
6.000%, 7/01/44
     
50
 
Saginaw, Michigan, Water Supply System Revenue Bonds, Series 2008, 5.250%, 7/01/22 –
7/18 at 100.00
A
55,375
   
NPFG Insured
     
5,735
 
Total Water and Sewer
   
6,250,912
$ 44,627
 
Total Investments (cost $43,588,108) – 149.6%
   
47,134,368
   
Floating Rate Obligations – (2.1)%
   
(665,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (51.8)% (6)
   
(16,313,000)
   
Other Assets Less Liabilities – 4.3%
   
1,358,107
   
Net Assets Applicable to Common Shares – 100%
   
$ 31,514,475
 
 
 
 
 
 

 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive 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 three-tier hierarchy of inputs is 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 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 May 31, 2012:
 
                         
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Long-Term Investments:
                       
Municipal Bonds
  $ —     $ 47,134,368     $ —     $ 47,134,368  
 
 
During the period ended May 31, 2012, the Fund recognized no transfers to or from Level 1, Level 2 or Level 3.
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
At May 31, 2012, the cost of investments was $42,946,701.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at May 31, 2012, were as follows:
 
       
Gross unrealized:
     
Appreciation
  $ 3,585,721  
Depreciation
    (62,931 )
Net unrealized appreciation (depreciation) of investments
  $ 3,522,790  
 
 
     
(1)
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common
   
shares unless otherwise noted.
(2)
 
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
   
may be subject to periodic principal paydowns.
(3)
 
Ratings: Using the highest of Standard & Poor’s Group ("Standard & Poor's"), Moody’s Investors Service,
   
Inc. ("Moody's") or Fitch, Inc. ("Fitch") rating. 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.
(4)
 
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency
   
securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S.
   
Government or agency securities are regarded as having an implied rating equal to the rating of
   
such securities.
(5)
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(6)
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.6%.
N/R
 
Not rated.
(ETM)
 
Escrowed to maturity.
(IF)
 
Inverse floating rate investment.
(UB)
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
 
 
 

 
 
 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)   Nuveen Michigan Dividend Advantage Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:          July 30, 2012        
 
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:          July 30, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:          July 30, 2012        
 

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