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 811-6622
 
Nuveen Select Tax-Free Income Portfolio 2
(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:             3/31          
 
Date of reporting period:          12/31/13         
 
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 Select Tax-Free Income Portfolio 2 (NXQ)
     
   
December 31, 2013
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESMENTS – 98.0%
     
   
MUNICIPAL BONDS – 98.0%
     
   
Alaska – 0.3%
     
$ 1,000
 
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
6/14 at 100.00
B2
$ 729,060
   
Series 2006A, 5.000%, 6/01/32
     
   
Arizona – 2.3%
     
2,500
 
Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series
3/21 at 100.00
A
2,512,400
   
2011B-1&2, 5.250%, 3/01/39
     
600
 
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power
10/20 at 100.00
BBB
590,040
   
Company, Series 2010A, 5.250%, 10/01/40
     
2,250
 
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc
No Opt. Call
A–
2,161,103
   
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
     
215
 
Sedona Wastewater Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Series
No Opt. Call
A
172,361
   
1998, 0.000%, 7/01/20 – NPFG Insured
     
5,565
 
Total Arizona
   
5,435,904
   
California – 12.9%
     
1,000
 
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate
10/17 at 100.00
BBB+
1,061,590
   
Lien Series 2004A, 5.450%, 10/01/25 – AMBAC Insured
     
11,000
 
Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds,
No Opt. Call
AA–
2,200,440
   
Capital Appreciation Series 2009B, 0.000%, 8/01/41 – AGC Insured
     
3,600
 
Arcadia Unified School District, Los Angeles County, California, General Obligation Bonds,
2/17 at 44.77
Aa2
1,235,232
   
Election 2006 Series 2007A, 0.000%, 8/01/33 – AGM Insured
     
500
 
California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges
6/14 at 100.00
A2
501,935
   
Projects, Series 1998A, 5.250%, 12/01/16
     
540
 
California State Public Works Board, Lease Revenue Refunding Bonds, Various University of
No Opt. Call
Aaa
552,026
   
California Projects, Series 1993A, 5.500%, 6/01/14 (ETM)
     
2,500
 
California State, General Obligation Bonds, Series 2005, 5.000%, 3/01/31
3/16 at 100.00
A1
2,589,650
60
 
California, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 – AMBAC Insured
3/14 at 100.00
A1
60,238
2,440
 
Eureka Unified School District, Humboldt County, California, General Obligation Bonds, Series
No Opt. Call
AA–
1,249,622
   
2002, 0.000%, 8/01/27 – AGM Insured
     
3,290
 
Folsom Cordova Unified School District, Sacramento County, California, General Obligation
No Opt. Call
AA–
1,939,850
   
Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/24 – NPFG Insured
     
1,000
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
6/17 at 100.00
B
680,230
   
Bonds, Series 2007A-1, 5.125%, 6/01/47
     
3,030
 
Grossmont Union High School District, San Diego County, California, General Obligation Bonds,
No Opt. Call
Aa3
1,867,783
   
Series 2006, 0.000%, 8/01/25 – NPFG Insured
     
1,495
 
Huntington Beach Union High School District, Orange County, California, General Obligation
No Opt. Call
Aa2
507,508
   
Bonds, Series 2007, 0.000%, 8/01/33 – FGIC Insured
     
1,160
 
Mount San Antonio Community College District, Los Angeles County, California, General
8/35 at 100.00
AA
534,656
   
Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
     
450
 
M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series
No Opt. Call
A
530,753
   
2009C, 6.500%, 11/01/39
     
1,195
 
Palmdale Elementary School District, Los Angeles County, California, General Obligation Bonds,
No Opt. Call
AA–
585,215
   
Series 2003, 0.000%, 8/01/28 – AGM Insured
     
590
 
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009,
11/19 at 100.00
Baa3
597,853
   
6.750%, 11/01/39
     
4,620
 
Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A,
No Opt. Call
A+
2,861,397
   
0.000%, 8/01/24 – NPFG Insured
     
4,400
 
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community
No Opt. Call
A
1,790,140
   
Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
     
2,500
 
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of
No Opt. Call
A+
740,575
   
Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
     
2,755
 
Sacramento City Unified School District, Sacramento County, California, General Obligation
No Opt. Call
A1
1,580,681
   
Bonds, Series 2007, 0.000%, 7/01/25 – AGM Insured
     
   
San Joaquin Delta Community College District, California, General Obligation Bonds, Election
     
   
2004 Series 2008B:
     
1,000
 
0.000%, 8/01/30 – AGM Insured
8/18 at 50.12
Aa2
395,550
1,890
 
0.000%, 8/01/31 – AGM Insured
8/18 at 47.14
Aa2
685,465
1,500
 
San Jose, California, Airport Revenue Bonds, Series 2004D, 5.000%, 3/01/28 – NPFG Insured
3/14 at 100.00
A
1,507,275
6,025
 
Simi Valley Unified School District, Ventura County, California, General Obligation Bonds,
No Opt. Call
AA–
2,530,560
   
Series 2007C, 0.000%, 8/01/30
     
2,080
 
Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed
6/15 at 100.00
B–
1,461,138
   
Bonds, Series 2005A-1, 5.500%, 6/01/45
     
60,620
 
Total California
   
30,247,362
   
Colorado – 6.5%
     
500
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,
7/19 at 100.00
A+
542,685
   
Series 2009A, 5.500%, 7/01/34
     
1,975
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of
1/20 at 100.00
AA–
1,955,151
   
Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
     
1,000
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital
5/17 at 100.00
BBB+
967,710
   
Association, Series 2007, 5.250%, 5/15/42
     
1,935
 
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B,
11/23 at 100.00
A
1,929,311
   
5.000%, 11/15/43
     
2,230
 
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel,
11/16 at 100.00
BBB–
2,042,301
   
Senior Lien Series 2006, 4.750%, 12/01/35 – SYNCORA GTY Insured
     
   
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
     
5,140
 
0.000%, 9/01/24 – NPFG Insured
No Opt. Call
A
3,087,187
8,100
 
0.000%, 9/01/29 – NPFG Insured
No Opt. Call
A
3,419,982
4,475
 
0.000%, 9/01/33 – NPFG Insured
No Opt. Call
A
1,380,582
25,355
 
Total Colorado
   
15,324,909
   
Florida – 2.6%
     
1,000
 
Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa
10/16 at 100.00
A3
1,003,850
   
General Hospital, Series 2006, 5.250%, 10/01/41
     
2,500
 
JEA, Florida, Electric System Revenue Bonds, Series Three 2006A, 5.000%, 10/01/41 – AGM Insured
4/15 at 100.00
Aa2
2,542,075
2,500
 
Orange County School Board, Florida, Certificates of Participation, Series 2004A, 5.000%,
8/14 at 100.00
Aa2
2,524,550
   
8/01/29 – AMBAC Insured
     
6,000
 
Total Florida
   
6,070,475
   
Georgia – 0.4%
     
1,000
 
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional
12/20 at 100.00
N/R
1,026,120
   
Medical Center Project, Series 2010, 8.125%, 12/01/45
     
   
Illinois – 12.6%
     
1,400
 
Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System
No Opt. Call
A
890,442
   
Revenue Bonds, Series 1999A, 0.000%, 4/01/23 – NPFG Insured
     
735
 
Chicago Board of Education, Cook County, Illinois, General Obligation Bonds, Dedicated
12/21 at 100.00
A+
673,069
   
Revenues Series 2011A, 5.000%, 12/01/41
     
1,000
 
Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A, 4.625%,
1/16 at 100.00
AA–
945,340
   
1/01/31 – AGM Insured
     
590
 
Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2003A, 5.000%, 1/01/33 – AMBAC Insured
3/14 at 100.00
AA+
590,094
1,665
 
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport,
1/16 at 100.00
A
1,669,712
   
Series 2005A, 5.000%, 1/01/33 – FGIC Insured
     
1,050
 
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond
No Opt. Call
Aa1
1,057,686
   
Trust 1137, 9.252%, 7/01/15 (IF)
     
200
 
Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2007A, 5.000%,
5/17 at 100.00
AA–
197,738
   
5/15/32 – NPFG Insured
     
2,185
 
Illinois Finance Authority, Revenue Bonds, YMCA of Southwest Illinois, Series 2005, 5.000%,
9/15 at 100.00
Aa3
1,896,187
   
9/01/31 – RAAI Insured
     
1,750
 
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical
8/18 at 100.00
BBB+
1,758,733
   
Centers, Series 2008A, 5.500%, 8/15/30
     
1,035
 
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc.,
11/16 at 100.00
BBB+
1,020,852
   
University Center Project, Series 2006B, 5.000%, 5/01/25
     
1,000
 
Illinois Housing Development Authority, Housing Finance Bonds, Series 2005E, 4.750%, 7/01/30 –
1/15 at 100.00
AA
1,037,490
   
FGIC Insured
     
2,190
 
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23
No Opt. Call
A–
2,327,291
   
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
     
   
Project, Series 2002A:
     
6,350
 
0.000%, 12/15/31 – NPFG Insured
No Opt. Call
AAA
2,266,760
1,350
 
0.000%, 6/15/35 – NPFG Insured
No Opt. Call
AAA
386,114
5,000
 
0.000%, 12/15/36 – NPFG Insured
No Opt. Call
AAA
1,313,150
9,170
 
0.000%, 6/15/39 – NPFG Insured
No Opt. Call
AAA
2,081,957
5,045
 
Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,
3/14 at 100.00
N/R
4,573,694
   
Series 2002A, 5.000%, 6/01/22 – RAAI Insured
     
   
Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,
     
   
Series 2002B:
     
1,060
 
0.000%, 12/01/17 – RAAI Insured
No Opt. Call
N/R
884,612
1,135
 
0.000%, 12/01/18 – RAAI Insured
No Opt. Call
N/R
885,402
1,100
 
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 (Pre-refunded
12/14 at 100.00
AAA
1,150,776
   
12/01/14) – FGIC Insured
     
2,000
 
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2007, 5.000%, 3/01/22 –
3/17 at 100.00
A
2,067,180
   
NPFG Insured
     
47,010
 
Total Illinois
   
29,674,279
   
Indiana – 4.8%
     
1,000
 
Franklin Community Multi-School Building Corporation, Johnson County, Indiana, First Mortgage
7/14 at 100.00
A+ (4)
1,026,130
   
Revenue Bonds, Series 2004, 5.000%, 7/15/22 (Pre-refunded 7/15/14) – FGIC Insured
     
1,600
 
Indiana Bond Bank, Special Program Bonds, Carmel Junior Waterworks Project, Series 2008B,
No Opt. Call
AA–
741,504
   
0.000%, 6/01/30 – AGM Insured
     
825
 
Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Ascension
11/16 at 100.00
AA+
826,048
   
Health, Series 2006B-5, 5.000%, 11/15/36
     
670
 
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Methodist Hospitals Inc.,
3/14 at 100.00
BBB
670,570
   
Series 2001, 5.375%, 9/15/22
     
1,000
 
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest
3/17 at 100.00
A
1,025,430
   
Indiana, Series 2007, 5.500%, 3/01/37
     
2,000
 
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 –
1/17 at 100.00
A+
2,002,760
   
NPFG Insured
     
750
 
West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds,
1/15 at 100.00
AA+
784,358
   
Series 2005, 5.000%, 7/15/22 – NPFG Insured
     
3,840
 
Whiting Redevelopment District, Indiana, Tax Increment Revenue Bonds, Lakefront Development
No Opt. Call
N/R
4,150,886
   
Project, Series 2010, 6.000%, 1/15/19
     
11,685
 
Total Indiana
   
11,227,686
   
Iowa – 1.6%
     
1,665
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company
No Opt. Call
BB–
1,602,230
   
Project, Series 2013, 5.000%, 12/01/19
     
1,645
 
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,
6/15 at 100.00
B+
1,237,566
   
5.375%, 6/01/38
     
1,000
 
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,
6/17 at 100.00
B+
828,750
   
5.600%, 6/01/34
     
4,310
 
Total Iowa
   
3,668,546
   
Kansas – 0.5%
     
795
 
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Refunding Series 2006,
7/16 at 100.00
A1
775,896
   
4.875%, 7/01/36
     
360
 
Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park
1/17 at 100.00
BB+
356,051
   
Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured
     
1,155
 
Total Kansas
   
1,131,947
   
Kentucky – 1.2%
     
2,500
 
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare
8/21 at 100.00
A+
2,467,150
   
System Obligated Group, Series 2011, 5.250%, 8/15/46
     
805
 
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
7/31 at 100.00
Baa3
426,264
   
Downtown Crossing Project, Convertible Capital Appreciation Series 2013C, 0.000%, 7/01/43
     
3,305
 
Total Kentucky
   
2,893,414
   
Louisiana – 0.9%
     
2,020
 
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series
7/14 at 100.00
A (4)
2,068,844
   
2004, 5.250%, 7/01/24 (Pre-refunded 7/01/14) – NPFG Insured
     
   
Massachusetts – 0.7%
     
500
 
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,
7/18 at 100.00
A–
508,150
   
Series 2008E-1 &2, 5.000%, 7/01/28
     
655
 
Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%,
No Opt. Call
A (4)
694,438
   
12/01/15 – NPFG Insured (ETM)
     
440
 
Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%,
No Opt. Call
Aa1
467,078
   
12/01/15 – NPFG Insured
     
1,595
 
Total Massachusetts
   
1,669,666
   
Michigan – 3.1%
     
355
 
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,
7/22 at 100.00
BBB+
322,340
   
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
     
2,500
 
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2001E, 5.750%,
7/18 at 100.00
AA+
2,557,550
   
7/01/31 – BHAC Insured
     
2,500
 
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%,
7/16 at 100.00
A
2,254,750
   
7/01/33 – FGIC Insured
     
2,060
 
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2004A, 4.500%,
7/16 at 100.00
A
1,889,432
   
7/01/25 – NPFG Insured
     
250
 
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont
9/18 at 100.00
A1
298,285
   
Hospital, Refunding Series 2009V, 8.250%, 9/01/39
     
7,665
 
Total Michigan
   
7,322,357
   
Minnesota – 0.5%
     
1,110
 
Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007-I, 4.850%,
7/16 at 100.00
AA+
1,088,166
   
7/01/38 (Alternative Minimum Tax)
     
   
Mississippi – 0.2%
     
500
 
Mississippi Development Bank, Revenue Bonds, Mississippi Municipal Energy Agency, Mississippi
3/16 at 100.00
Baa1
515,200
   
Power, Series 2006A, 5.000%, 3/01/21 – SYNCORA GTY Insured
     
   
Missouri – 0.1%
     
270
 
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales
10/18 at 100.00
AA+
288,093
   
Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
     
   
Nevada – 2.8%
     
1,250
 
Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 11823, 20.305%,
1/20 at 100.00
A+
1,587,100
   
1/01/36 (IF)
     
1,000
 
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran
1/20 at 100.00
A+
1,013,860
   
International Airport, Series 2010A, 5.250%, 7/01/42
     
1,600
 
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2005A, 5.000%,
6/15 at 100.00
AA+
1,701,232
   
6/01/18 – FGIC Insured
     
2,500
 
North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 – NPFG Insured
5/16 at 100.00
A
2,198,600
6,350
 
Total Nevada
   
6,500,792
   
New Jersey – 1.1%
     
2,500
 
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center,
3/14 at 100.00
Ba2
2,500,250
   
Series 2003, 5.500%, 7/01/23
     
   
New Mexico – 3.1%
     
1,000
 
New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series
9/17 at 100.00
N/R
957,120
   
2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
     
   
University of New Mexico, FHA-Insured Hospital Mortgage Revenue Bonds, University of Mexico
     
   
Hospital Project, Series 2004:
     
555
 
4.625%, 1/01/25 – AGM Insured
7/14 at 100.00
AA–
558,025
660
 
4.625%, 7/01/25 – AGM Insured
7/14 at 100.00
AA–
663,419
2,000
 
4.750%, 7/01/27 – AGM Insured
7/14 at 100.00
AA–
2,008,480
3,000
 
4.750%, 1/01/28 – AGM Insured
7/14 at 100.00
AA–
3,009,930
7,215
 
Total New Mexico
   
7,196,974
   
New York – 5.8%
     
1,700
 
Dormitory Authority of the State of New York, FHA Insured Mortgage Hospital Revenue Bonds,
8/16 at 100.00
AAA
1,641,384
   
Kaleida Health, Series 2006, 4.700%, 2/15/35
     
2,075
 
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds,
No Opt. Call
AAA
2,096,124
   
Education Series 2007C, 5.000%, 3/15/14
     
500
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series
2/21 at 100.00
A
507,130
   
2011A, 5.250%, 2/15/47
     
1,805
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%,
2/17 at 100.00
A
1,788,845
   
2/15/47 – FGIC Insured
     
1,250
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding
11/22 at 100.00
A
1,345,325
   
Series 2012F, 5.000%, 11/15/26
     
2,000
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue
12/14 at 100.00
AAA
2,022,020
   
Bonds, Series 2004B, 5.000%, 6/15/36 – AGM Insured (UB)
     
3,000
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
5/23 at 100.00
AAA
3,129,390
   
Fiscal 2013 Series I, 5.000%, 5/01/38
     
1,135
 
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
12/20 at 100.00
BBB
1,207,447
   
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
     
13,465
 
Total New York
   
13,737,665
   
Ohio – 3.4%
     
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
     
   
Bonds, Senior Lien, Series 2007A-2:
     
2,080
 
5.375%, 6/01/24
6/17 at 100.00
B–
1,768,250
795
 
5.125%, 6/01/24
6/17 at 100.00
B–
656,591
2,475
 
5.875%, 6/01/30
6/17 at 100.00
B
1,878,525
775
 
5.750%, 6/01/34
6/17 at 100.00
B
567,068
2,680
 
5.875%, 6/01/47
6/17 at 100.00
B
1,995,448
1,105
 
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series
2/23 at 100.00
A+
1,091,508
   
2013A-1, 5.000%, 2/15/48
     
9,910
 
Total Ohio
   
7,957,390
   
Oklahoma – 1.7%
     
1,000
 
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 5.375%, 9/01/36
9/16 at 100.00
BBB–
980,030
3,000
 
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,
2/17 at 100.00
A+
3,027,000
   
5.000%, 2/15/42
     
4,000
 
Total Oklahoma
   
4,007,030
   
Pennsylvania – 0.6%
     
1,500
 
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue
12/20 at 100.00
AA
1,376,190
   
Bonds, Series 2010B, 0.000%, 12/01/30
     
   
Puerto Rico – 0.8%
     
1,035
 
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003,
3/14 at 100.00
AA–
1,033,396
   
5.000%, 12/01/20
     
15,000
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,
No Opt. Call
AA–
890,850
   
8/01/54 – AMBAC Insured
     
16,035
 
Total Puerto Rico
   
1,924,246
   
Rhode Island – 2.4%
     
5,835
 
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,
3/14 at 100.00
BBB–
5,621,027
   
Series 2002A, 6.250%, 6/01/42
     
   
South Carolina – 3.3%
     
475
 
College of Charleston, South Carolina, Academic and Administrative Facilities Revenue Bonds,
4/14 at 100.00
A1 (4)
480,928
   
Series 2004B, 5.125%, 4/01/30 (Pre-refunded 4/01/14) – SYNCORA GTY Insured
     
   
Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds,
     
   
GROWTH, Series 2004:
     
700
 
5.250%, 12/01/20 (Pre-refunded 12/01/14)
12/14 at 100.00
AA– (4)
732,501
3,000
 
5.250%, 12/01/29 (Pre-refunded 12/01/14)
12/14 at 100.00
AA– (4)
3,139,290
   
Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds,
     
   
Series 2004A:
     
500
 
5.250%, 8/15/20 (Pre-refunded 8/15/14) – NPFG Insured
8/14 at 100.00
A (4)
515,660
2,735
 
5.250%, 2/15/21 (Pre-refunded 8/15/14) – NPFG Insured
8/14 at 100.00
A (4)
2,820,660
7,410
 
Total South Carolina
   
7,689,039
   
South Dakota – 0.4%
     
1,000
 
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley
11/14 at 100.00
A+
1,001,900
   
Hospitals, Series 2004A, 5.250%, 11/01/34
     
   
Texas – 10.2%
     
1,500
 
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2005, 5.000%,
1/15 at 100.00
A (4)
1,571,505
   
1/01/45 (Pre-refunded 1/01/15) – FGIC Insured
     
250
 
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41
1/21 at 100.00
Baa2
254,713
5,560
 
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
10/23 at 100.00
BBB+
5,335,485
   
2013A, 5.500%, 4/01/53
     
2,500
 
Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Texas
No Opt. Call
A (4)
2,699,125
   
Children’s Hospital, Series 1995, 5.500%, 10/01/16 – NPFG Insured (ETM)
     
   
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
     
510
 
0.000%, 11/15/24 – NPFG Insured
No Opt. Call
A
264,670
12,050
 
0.000%, 11/15/41 – NPFG Insured
11/31 at 53.78
A
1,680,132
575
 
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
No Opt. Call
A2
344,638
   
Project, Series 2001B, 0.000%, 9/01/24 – AMBAC Insured
     
1,400
 
Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson
2/16 at 100.00
BBB–
1,389,304
   
Memorial Hospital Project, Series 2005, 5.375%, 8/15/35
     
335
 
Live Oak, Texas, General Obligation Bonds, Series 2004, 5.250%, 8/01/20 – NPFG Insured
8/14 at 100.00
Aa3
339,894
2,255
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
11/20 at 100.00
BBB–
2,254,820
   
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
     
1,000
 
San Antonio, Texas, Water System Revenue Bonds, Series 2005, 4.750%, 5/15/37 – NPFG Insured
5/15 at 100.00
AA+
1,025,970
5,000
 
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series
No Opt. Call
A3
5,006,448
   
2012, 5.000%, 12/15/26
     
1,425
 
Texas State University System, Financing Revenue Bonds, Refunding Series 2006, 5.000%,
3/16 at 100.00
Aa2
1,516,856
   
3/15/28 – AGM Insured
     
945
 
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, Second Tier Series
8/14 at 28.37
A–
254,517
   
2002, 0.000%, 8/15/35 – AMBAC Insured
     
35,305
 
Total Texas
   
23,938,077
   
Utah – 1.3%
     
1,435
 
Salt Lake City and Sandy Metropolitan Water District, Utah, Water Revenue Bonds, Series 2004,
7/14 at 100.00
AA+ (4)
1,469,885
   
5.000%, 7/01/21 (Pre-refunded 7/01/14) – AMBAC Insured
     
5,465
 
Utah Transit Authority, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 6/15/36
6/17 at 38.77
A1
1,523,533
6,900
 
Total Utah
   
2,993,418
   
Vermont – 0.0%
     
85
 
Vermont Housing Finance Agency, Multifamily Housing Bonds, Series 1999C, 5.800%, 8/15/16 –
2/14 at 100.00
AA–
85,274
   
AGM Insured
     
   
Virginia – 3.4%
     
1,000
 
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue
3/14 at 100.00
BBB
975,960
   
Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
     
1,500
 
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Raod Second Senior Lien
10/26 at 100.00
AA–
1,422,510
   
Revenue Bonds, Series 2009C, 0.000%, 10/01/41 – AGC Insured
     
2,500
 
Route 460 Funding Corporation, Virginia, Toll Road Reveue Bonds, Series 2012A, 5.125%, 7/01/49
No Opt. Call
BBB–
2,271,575
   
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
     
   
Crossing, Opco LLC Project, Series 2012:
     
1,000
 
5.250%, 1/01/32 (Alternative Minimum Tax)
7/22 at 100.00
BBB–
985,130
500
 
6.000%, 1/01/37 (Alternative Minimum Tax)
7/22 at 100.00
BBB–
514,195
1,010
 
5.500%, 1/01/42 (Alternative Minimum Tax)
7/22 at 100.00
BBB–
977,791
1,000
 
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds,
9/17 at 100.00
BBB+
965,130
   
Series 2007A, 5.250%, 9/01/37
     
8,510
 
Total Virginia
   
8,112,291
   
Washington – 3.3%
     
990
 
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research
1/21 at 100.00
A
1,008,899
   
Center, Series 2011A, 5.625%, 1/01/35
     
4,000
 
Washington State Health Care Facilities Authority, Revenue Bonds, Catholic Health Initiative,
1/23 at 100.00
A+
4,155,078
   
Series 2013A, 5.750%, 1/01/45
     
2,500
 
Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008D, 5.000%, 1/01/33
No Opt. Call
AA+
2,651,500
7,490
 
Total Washington
   
7,815,477
   
Wisconsin – 3.2%
     
2,000
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran,
10/21 at 100.00
A+
2,003,000
   
Series 2011A, 5.250%, 10/15/39
     
1,645
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc.,
6/22 at 100.00
A2
1,573,130
   
Series 2012, 5.000%, 6/01/39
     
1,500
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan
8/16 at 100.00
A–
1,477,035
   
Healthcare System, Series 2006A, 5.250%, 8/15/31
     
2,500
 
Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A,
7/15 at 100.00
AA+
2,554,000
   
5.000%, 7/01/35 – AMBAC Insured
     
7,645
 
Total Wisconsin
   
7,607,165
$ 321,320
 
Total Municipal Bonds (cost $232,270,806)
   
230,446,233
             
Principal
           
Amount (000)
 
Description (1)
Coupon
Maturity
Ratings (3)
Value
   
CORPORATE BONDS – 0.0%
       
   
Transportation – 0.0%
       
$ 307
 
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
5.500%
7/15/19
N/R
$ 55,191
87
 
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
3.000%
7/15/55
N/R
11,678
$ 394
 
Total Corporate Bonds (cost $15,596)
     
66,869
   
Total Long-Term Investments (cost $231,286,402)
     
230,513,102
   
Floating Rate Obligations – (0.4)%
     
(1,000,000)
   
Other Assets Less Liabilities – 2.4%
     
5,744,764
   
Net Assets – 100%
     
$ 235,257,866
 
 
 
 
 
 
 
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 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 risks 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:
       
Municipal Bonds
$ —
$230,446,233
$ —
$230,446,233
Corporate Bonds
—
—
66,869
66,869
Total
$ —
$230,446,233
$66,869
$230,513,102
 
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.
 
As of December 31, 2013, the cost of investments was $229,590,691.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2013, were as follows:
 
   
Gross unrealized:
 
   Appreciation
$  6,794,171
   Depreciation
(6,871,760)
Net unrealized appreciation (depreciation) of investments
$    (77,589)
 
 
     
(1)
 
All percentages shown in the Portfolio of Investments are based on net assets.
(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 valued at fair value using methods determined in good faith by, or at the discretion of, the
   
Board of Trustees. For fair value measurement disclosure purposes, investment classified as Level 3.
(6)
 
During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy
   
protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance
   
of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund
   
surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received
   
two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15,
   
2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing
   
on July 15, 2055. The Fund’s custodian is not accruing income on the Fund’s records for either senior
   
interest corporate bond.
(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 Select Tax-Free Income Portfolio 2 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:          February 28, 2014        
 
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:          February 28, 2014        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:          February 28, 2014        
 

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