Unassociated Document



 
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 811-21152
 
Nuveen Georgia Dividend Advantage Municipal Fund 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:            5/31          
 
Date of reporting period:         8/31/10         
 
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 Georgia Dividend Advantage Municipal Fund 2 (NKG)
     
   
August 31, 2010
     
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Staples – 2.6% (1.8% of Total Investments)
     
$      2,000 
 
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, 
5/12 at 100.00 
BBB 
   $ 1,750,480 
   
Series 2002, 5.500%, 5/15/39 
     
   
Education and Civic Organizations – 17.7% (11.9% of Total Investments)
     
2,500 
 
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus 
12/12 at 100.00 
Aa2 
2,555,025 
   
Housing LLC Project, Series 2002, 5.000%, 12/01/33 – AMBAC Insured 
     
500 
 
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus 
6/19 at 100.00 
Aa2 
546,095 
   
Housing LLC Project, Series 2009, 5.250%, 6/15/35 
     
1,225 
 
Athens-Clarke County Unified Government Development Authority, Georgia, Educational Facilities 
12/12 at 100.00 
N/R 
1,273,755 
   
Revenue Bonds, UGAREF CCRC Building LLC Project, Series 2002, 5.000%, 12/15/18 – AMBAC Insured 
     
3,000 
 
Atlanta Development Authority, Georgia, Educational Facilities Revenue Bonds, Science Park LLC 
7/17 at 100.00 
A1 
3,081,900 
   
Project, Series 2007, 5.000%, 7/01/39 
     
2,000 
 
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech – Klaus Parking and 
11/13 at 100.00 
Aa3 
2,131,000 
   
Family Housing, Series 2003, 5.000%, 11/01/23 – NPFG Insured 
     
1,050 
 
Fulton County Development Authority, Georgia, Revenue Bonds, TUFF Morehouse Project, Series 
2/12 at 100.00 
A2 
1,060,248 
   
2002A, 5.000%, 2/01/34 – AMBAC Insured 
     
   
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series 
     
   
2009B, Trust 3404: 
     
315 
 
16.728%, 3/01/17 (IF) 
No Opt. Call 
AA 
448,056 
490 
 
16.755%, 3/01/17 (IF) 
No Opt. Call 
AA 
674,906 
11,080 
 
Total Education and Civic Organizations 
   
11,770,985 
   
Health Care – 17.9% (12.0% of Total Investments)
     
150 
 
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center, 
12/10 at 100.00 
BB+ 
150,062 
   
Series 1997, 5.250%, 12/01/12 
     
   
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center, 
     
   
Series 1998: 
     
65 
 
5.250%, 12/01/22 
12/10 at 100.00 
BB+ 
59,748 
550 
 
5.375%, 12/01/28 
12/10 at 100.00 
BB+ 
477,070 
   
Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical 
     
   
Center, Series 2004: 
     
185 
 
5.000%, 12/01/19 
12/14 at 100.00 
BBB– 
189,262 
1,000 
 
5.250%, 12/01/22 
12/14 at 100.00 
BBB– 
1,019,040 
   
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, 
     
   
Northeast Georgia Health Services Inc., Series 2010B: 
     
700 
 
5.125%, 2/15/40 
No Opt. Call 
A+ 
721,406 
1,645 
 
5.250%, 2/15/45 
2/41 at 100.00 
A+ 
1,686,865 
1,140 
 
Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project, Series 
10/17 at 100.00 
A2 
1,167,702 
   
2007, 5.250%, 10/01/35 
     
   
Macon-Bibb County Hospital Authority, Georgia, Revenue Anticipation Certificates, Medical 
     
   
Center of Central Georgia Inc., Series 2009: 
     
200 
 
5.000%, 8/01/32 
8/19 at 100.00 
AA 
208,464 
450 
 
5.000%, 8/01/35 
8/19 at 100.00 
AA 
464,688 
   
Royston Hospital Authority, Georgia, Revenue Anticipation Certificates, Ty Cobb Healthcare 
     
   
System Inc., Series 1999: 
     
350 
 
6.700%, 7/01/16 
7/11 at 100.00 
N/R 
351,096 
650 
 
6.500%, 7/01/27 
1/11 at 101.00 
N/R 
618,072 
2,000 
 
Savannah Hospital Authority, Georgia, Revenue Bonds, St. Joseph’s/Candler Health System, 
1/14 at 100.00 
Baa1 
2,026,360 
   
Series 2003, 5.250%, 7/01/23 – RAAI Insured 
     
1,945 
 
Tift County Hospital Authority, Georgia, Revenue Anticipation Bonds, Tift Regional Medical 
12/12 at 101.00 
Aa3 
2,001,658 
   
Center, Series 2002, 5.250%, 12/01/19 – AMBAC Insured 
     
750 
 
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/17 at 100.00 
A+ 
758,438 
   
Medical Center, Series 2007, 5.000%, 10/01/33 
     
11,780 
 
Total Health Care 
   
11,899,931 
   
Housing/Multifamily – 4.6% (3.1% of Total Investments)
     
25 
 
Cobb County Development Authority, Georgia, Student Housing Revenue Bonds, KSU Village II Real 
7/17 at 100.00 
Baa2 
23,687 
   
Estate Foundation LLC Project, Series 2007A, 5.250%, 7/15/38 – AMBAC Insured 
     
   
Savannah Economic Development Authority, Georgia, GNMA Collateralized Multifamily Housing 
     
   
Revenue Bonds, Snap I-II-III Apartments, Series 2002A: 
     
500 
 
5.150%, 11/20/22 (Alternative Minimum Tax) 
11/12 at 102.00 
N/R 
516,985 
980 
 
5.200%, 11/20/27 (Alternative Minimum Tax) 
11/12 at 102.00 
N/R 
1,007,166 
1,465 
 
5.250%, 11/20/32 (Alternative Minimum Tax) 
11/12 at 102.00 
N/R 
1,497,098 
2,970 
 
Total Housing/Multifamily 
   
3,044,936 
   
Housing/Single Family – 0.5% (0.3% of Total Investments)
     
170 
 
Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2006C-2, 4.550%, 
12/15 at 100.00 
AAA 
163,445 
   
12/01/31 (Alternative Minimum Tax) 
     
150 
 
Georgia Housing and Finance Authority, Single Family Mortgage Resolution 1 Bonds, Series 
6/11 at 100.00 
AAA 
156,204 
   
2001B-2, 5.400%, 12/01/31 (Alternative Minimum Tax) 
     
320 
 
Total Housing/Single Family 
   
319,649 
   
Industrials – 3.2% (2.2% of Total Investments)
     
2,190 
 
Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste 
4/16 at 101.00 
BBB 
2,136,367 
   
Management Project, Series 2004A, 5.000%, 4/01/33 (Alternative Minimum Tax) 
     
   
Long-Term Care – 0.4% (0.2% of Total Investments)
     
250 
 
Medical Center Hospital Authority, Georgia, Revenue Bonds, Spring Harbor at Green Island, 
No Opt. Call 
N/R 
253,248 
   
Series 2007, 5.000%, 7/01/11 
     
   
Materials – 2.5% (1.7% of Total Investments)
     
1,000 
 
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds, 
2/11 at 101.00 
BBB 
1,015,080 
   
International Paper Company, Series 2001A, 6.250%, 2/01/25 (Alternative Minimum Tax) 
     
250 
 
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Refunding 
2/12 at 101.00 
BBB 
254,305 
   
Bonds, International Paper Company, Series 2002A, 6.000%, 2/01/25 (Alternative Minimum Tax) 
     
370 
 
Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union Camp 
No Opt. Call 
Baa3 
399,430 
   
Corporation, Series 1995, 6.150%, 3/01/17 
     
1,620 
 
Total Materials 
   
1,668,815 
   
Tax Obligation/General – 28.0% (18.9% of Total Investments)
     
600 
 
Cherokee County Resource Recovery Development Authority, Georgia, Solid Waste Disposal Revenue 
7/17 at 100.00 
AA+ 
611,256 
   
Bonds, Ball Ground Recycling LLC Project, Series 2007A, 5.000%, 7/01/37 – AMBAC Insured 
     
   
(Alternative Minimum Tax) 
     
900 
 
Decatur, Georgia, General Obligation Bonds, Series 2007, 5.000%, 1/01/31 – AGM Insured 
1/17 at 100.00 
AAA 
982,728 
1,000 
 
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical 
7/12 at 101.00 
Aa2 
1,024,540 
   
Center Project, Series 2002, 5.200%, 7/01/32 – NPFG Insured 
     
1,000 
 
Forsyth County, Georgia, General Obligation Bonds, Series 2004, 5.250%, 3/01/19 
3/14 at 101.00 
Aaa 
1,137,630 
915 
 
Georgia Municipal Association Inc., Certificates of Participation, Riverdale Public Purpose 
5/19 at 100.00 
AAA 
991,274 
   
Project, Series 2009, 5.500%, 5/01/38 – AGC Insured 
     
1,700 
 
Georgia State, General Obligation Bonds, Series 2007E, 5.000%, 8/01/24 
8/17 at 100.00 
AAA 
1,954,745 
1,645 
 
Georgia State, General Obligation Bonds, Series 2009B, 5.000%, 1/01/26 
1/19 at 100.00 
AAA 
1,908,940 
750 
 
Georgia, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15 
No Opt. Call 
AAA 
905,933 
1,000 
 
Georgia, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15 
No Opt. Call 
AAA 
1,189,560 
2,100 
 
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008, 5.000%, 
2/18 at 100.00 
AAA 
2,291,961 
   
2/01/36 (UB) 
     
250 
 
La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series 
7/18 at 100.00 
Aa2 
262,795 
   
2008A, 5.500%, 7/01/38 
     
   
Oconee County, Georgia, General Obligation Bonds, Recreation Project, Series 2003: 
     
1,410 
 
5.500%, 1/01/23 – AMBAC Insured 
1/13 at 101.00 
Aa2 
1,554,158 
1,470 
 
5.250%, 1/01/26 – AMBAC Insured 
1/13 at 101.00 
Aa2 
1,585,704 
1,200 
 
Paulding County School District, Georgia, General Obligation Bonds, Series 2007, 
2/17 at 100.00 
AA+ 
1,273,212 
   
5.000%, 2/01/33 
     
950 
 
Wayne County Hospital Authority, Georgia, Hospital Revenue Bonds, Series 2006, 5.000%, 
3/16 at 100.00 
N/R 
954,171 
   
3/01/23 – SYNCORA GTY Insured 
     
16,890 
 
Total Tax Obligation/General 
   
18,628,607 
   
Tax Obligation/Limited – 13.4% (9.0% of Total Investments)
     
   
Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007: 
     
 
5.250%, 12/01/21 – AGC Insured 
No Opt. Call 
AAA 
5,372 
620 
 
5.000%, 12/01/23 – AGC Insured 
12/17 at 100.00 
AAA 
646,666 
1,000 
 
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, 
No Opt. Call 
N/R 
1,045,680 
   
7.375%, 1/01/31 
     
110 
 
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16 
No Opt. Call 
A– 
121,490 
   
(Alternative Minimum Tax) 
     
   
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005B: 
     
450 
 
5.400%, 1/01/20 
7/15 at 100.00 
A– 
475,227 
350 
 
5.600%, 1/01/30 
7/15 at 100.00 
A– 
355,887 
340 
 
Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31 
1/16 at 100.00 
N/R 
315,636 
   
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds, 
     
   
Series 1993: 
     
105 
 
5.500%, 10/01/18 – NPFG Insured 
No Opt. Call 
117,770 
1,755 
 
5.625%, 10/01/26 – NPFG Insured 
10/19 at 100.00 
1,973,392 
750 
 
Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project, 
6/12 at 101.00 
N/R 
771,923 
   
Series 2002, 5.125%, 12/01/21 – AMBAC Insured 
     
2,500 
 
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds, 
No Opt. Call 
Aa2 
3,058,575 
   
Series 1992P, 6.250%, 7/01/20 – AMBAC Insured 
     
7,985 
 
Total Tax Obligation/Limited 
   
8,887,618 
   
Transportation – 4.9% (3.3% of Total Investments)
     
3,195 
 
Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2000A, 5.500%, 1/01/21 – 
1/11 at 100.50 
A+ 
3,238,612 
   
FGIC Insured 
     
   
U.S. Guaranteed – 19.0% (12.8% of Total Investments) (4)
     
1,000 
 
Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002, 5.250%, 10/01/22 
10/12 at 100.00 
AAA 
1,101,070 
   
(Pre-refunded 10/01/12) – AGM Insured 
     
1,000 
 
Cherokee County School System, Georgia, General Obligation Bonds, Series 2003, 5.000%, 8/01/16 
8/13 at 100.00 
AA+ (4) 
1,130,470 
   
(Pre-refunded 8/01/13) – MBIA Insured 
     
   
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Series 2000: 
     
1,000 
 
5.125%, 10/01/31 (Pre-refunded 10/01/10) 
10/10 at 101.00 
AAA 
1,014,110 
900 
 
5.375%, 10/01/35 (Pre-refunded 10/01/10) 
10/10 at 101.00 
AAA 
912,888 
1,305 
 
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, 
5/11 at 100.00 
N/R (4) 
1,353,220 
   
Northeast Georgia Health Services Inc., Series 2001, 5.500%, 5/15/31 (Pre-refunded 5/15/11) 
     
   
Newnan Hospital Authority, Georgia, Revenue Anticipation Certificates, Newnan Hospital Inc., 
     
   
Series 2002: 
     
2,260 
 
5.500%, 1/01/19 (Pre-refunded 1/01/13) – NPFG Insured 
1/13 at 100.00 
Aa3 (4) 
2,524,307 
3,020 
 
5.500%, 1/01/20 (Pre-refunded 1/01/13) – NPFG Insured 
1/13 at 100.00 
Aa3 (4) 
3,373,189 
1,100 
 
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 
10/11 at 102.00 
Baa2 (4) 
1,187,032 
   
2001, 5.750%, 10/01/31 (Pre-refunded 10/01/11) 
     
11,585 
 
Total U.S. Guaranteed 
   
12,596,286 
   
Utilities – 4.8% (3.2% of Total Investments)
     
1,000 
 
Elberton, Georgia, Combined Utility System Revenue Refunding and Improvement Bonds, Series 
1/12 at 100.00 
A3 
1,049,690 
   
2001, 5.000%, 1/01/22 – AMBAC Insured 
     
1,000 
 
Georgia Municipal Electric Authority, General Power Revenue Bonds, Project 1, Series 2007A, 
1/17 at 100.00 
1,088,050 
   
5.000%, 1/01/25 – NPFG Insured 
     
1,000 
 
Municipal Electric Authority of Georgia, Project One Subordinated Lien Revenue Bonds, Series 
1/13 at 100.00 
1,069,690 
   
2003A, 5.000%, 1/01/22 – NPFG Insured 
     
3,000 
 
Total Utilities 
   
3,207,430 
   
Water and Sewer – 29.1% (19.6% of Total Investments)
     
   
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004: 
     
500 
 
5.250%, 11/01/15 – AGM Insured 
11/14 at 100.00 
AAA 
568,850 
700 
 
5.000%, 11/01/37 – AGM Insured 
11/14 at 100.00 
AAA 
714,721 
3,500 
 
Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2002, 5.000%, 10/01/27 – AGM Insured 
10/12 at 100.00 
AAA 
3,613,400 
1,990 
 
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2001, 5.000%, 
8/18 at 100.00 
AAA 
2,131,509 
   
8/01/35 – AGM Insured 
     
   
Coweta County Water and Sewer Authority, Georgia, Revenue Bonds, Series 2007: 
     
500 
 
5.000%, 6/01/32 
6/18 at 100.00 
Aa2 
537,665 
500 
 
5.000%, 6/01/37 
6/18 at 100.00 
Aa2 
531,125 
1,000 
 
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue Bonds, 
12/15 at 100.00 
Aa2 
1,075,040 
   
Series 2005, 5.000%, 6/01/29 – NPFG Insured 
     
445 
 
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue Bonds, 
6/17 at 100.00 
Aa2 
472,016 
   
Series 2007, 5.000%, 6/01/37 – NPFG Insured 
     
4,000 
 
Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2002, 
4/13 at 100.00 
Aaa 
4,308,796 
   
5.000%, 4/01/32 
     
375 
 
Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2007, 5.000%, 
4/17 at 100.00 
AAA 
395,284 
   
4/01/37 – AGM Insured 
     
950 
 
Fulton County, Georgia, Water and Sewerage Revenue Bonds, Series 1998, 5.000%, 1/01/16 – 
1/10 at 100.00 
Aa2 
953,259 
   
FGIC Insured 
     
3,100 
 
Harris County, Georgia, Water System Revenue Bonds, Series 2002, 5.000%, 12/01/22 – 
12/12 at 100.00 
N/R 
3,310,118 
   
AMBAC Insured 
     
685 
 
Walton County Water and Sewerage Authority, Georgia, Revenue Bonds, The Oconee-Hard Creek 
2/18 at 100.00 
Aa2 
723,387 
   
Reservoir Project, Series 2008, 5.000%, 2/01/38 – AGM Insured 
     
18,245 
 
Total Water and Sewer 
   
19,335,170 
$     93,110 
 
Total Investments (cost $94,124,876) – 148.6% 
   
98,738,134 
   
Floating Rate Obligations – (2.1)% 
   
(1,395,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (48.5)% (5) 
   
(32,265,000)
   
Other Assets Less Liabilities – 2.0% 
   
1,379,528 
   
Net Assets Applicable to Common Shares – 100% 
   
$ 66,457,662 
 
 
 
 
 
 

 
 
 

 
Fair Value Measurements
 
 
In determining the value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
 
  Level 1 – Quoted prices in active markets for identical securities.
 
 
  Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
 
  Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
 
The inputs or 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 August 31, 2010:
 
         
 
Level 1
Level 2
Level 3
Total
Investments: 
       
Municipal Bonds 
$ — 
$98,738,134 
$ — 
$98,738,134 
 
 
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 August 31, 2010, the cost of investments was $92,713,067.
 
 
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2010, were as follows:
 
   
Gross unrealized: 
 
  Appreciation 
$4,945,655 
  Depreciation 
(316,797)
Net unrealized appreciation (depreciation) of investments 
$4,628,858 
 
   
(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 Investor 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. Such investments are normally considered to 
 
be equivalent to AAA rated securities. 
(5)   
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 32.7%. 
N/R   
Not rated. 
(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 Georgia Dividend Advantage Municipal Fund 2 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         October 29, 2010        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date         October 29, 2010        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date         October 29, 2010