Edgar Filing: Nuveen Tax-Advantaged Dividend Growth Fund

Gross unrealized:

Appreciation

Depreciation

(13,942,249

Net unrealized appreciation (depreciation) of investments

Nuveen Tax-Advantaged Dividend Growth 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 811-22058

Nuveen Tax-Advantaged Dividend Growth Fund

(Exact name of registrant as specified in charter)

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary

333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

Registrant’s telephone number, including area code: 312-917-7700

Date of fiscal year end: December 31

Date of reporting period: September 30, 2015

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

JTD


Nuveen Tax-Advantaged Dividend Growth Fund
Portfolio of Investments		September 30, 2015 (Unaudited)


Shares		Description (1)	Value


		LONG-TERM INVESTMENTS – 143.4% (97.3% of Total Investments)

		COMMON STOCKS – 105.4% (71.5% of Total Investments)

		Aerospace & Defense – 5.0%

	32,883	Boeing Company, (2)	$	4,306,029
	45,172	Honeywell International Inc., (2)		4,277,337
	138,114	Safran SA, (4)		2,595,162
		Total Aerospace & Defense		11,178,528

		Automobiles – 2.8%

	31,575	Daimler AG, (2), (4)		2,299,923
	132,374	General Motors Company, (3)		3,973,867
		Total Automobiles		6,273,790

		Banks – 12.7%

	41,309	BOC Hong Kong Holdings Limited, (4)		2,447,971
	152,846	Danske Bank A/S, (4)		2,307,975
	106,188	JPMorgan Chase & Co., (3)		6,474,282
	778,694	Mitsubishi UFJ Financial Group Inc.		4,742,246
	110,831	Swedbank AB, (3), (4)		2,459,340
	54,828	Toronto-Dominion Bank		2,161,320
	108,971	Wells Fargo & Company		5,595,661
	99,586	Westpac Banking Corporation, (3)		2,097,281
		Total Banks		28,286,076

		Beverages – 3.2%

	60,112	Heineken NV, (4)		2,451,968
	50,088	PepsiCo, Inc., (3)		4,723,298
		Total Beverages		7,175,266

		Biotechnology – 0.7%

	53,980	Grifols SA		1,640,992

		Capital Markets – 1.2%

	8,727	BlackRock Inc.		2,596,021

		Chemicals – 2.9%

	28,607	Monsanto Company, (3)		2,441,321
	57,587	Potash Corporation of Saskatchewan, (3)		1,183,413
	27,119	Praxair, Inc.		2,762,341
		Total Chemicals		6,387,075

		Consumer Finance – 1.5%

	63,092	Discover Financial Services, (2), (3)		3,280,153

		Containers & Packaging – 2.4%

	50,929	Amcor Limited, (4)		1,884,373
	59,224	Packaging Corp. of America		3,562,916
		Total Containers & Packaging		5,447,289

		Diversified Telecommunication Services – 3.2%

	167,565	AT&T Inc., (3)		5,459,268
	69,319	HKT Trust and HKT Limited, (4)		1,647,546
		Total Diversified Telecommunication Services		7,106,814

		Electric Utilities – 4.1%

	44,873	NextEra Energy Inc., (2)		4,377,361
	157,298	Red Electrica Corporacion SA, (4)		2,606,428


Nuveen Investments			1


JTD	Nuveen Tax-Advantaged Dividend Growth Fund
	Portfolio of Investments (continued)	September 30, 2015 (Unaudited)


Shares		Description (1)	Value

		Electric Utilities (continued)


	94,296	Scottish and Southern Energy PLC, (2), (4)	$	2,149,949
		Total Electric Utilities		9,133,738

		Energy Equipment & Services – 0.7%

	62,600	Tenaris SA, (2)		1,509,286

		Food & Staples Retailing – 2.9%

	67,347	CVS Health Corporation, (3)		6,497,639

		Food Products – 0.6%

	113,745	Groupe Danone, (4)		1,433,187

		Health Care Equipment & Supplies – 2.1%

	68,675	Medtronic, PLC		4,597,105

		Health Care Providers & Services – 2.4%

	45,330	UnitedHealth Group Incorporated, (3)		5,258,733

		Hotels, Restaurants & Leisure – 1.3%

	173,394	Compass Group PLC, (4)		2,789,910

		Household Durables – 2.0%

	29,613	Whirlpool Corporation, (2)		4,360,810

		Household Products – 2.9%

	66,527	Colgate-Palmolive Company, (2)		4,221,803
	126,046	Reckitt and Benckiser, (4)		2,300,340
		Total Household Products		6,522,143

		Insurance – 4.6%

	43,772	Ace Limited		4,526,025
	57,314	Marsh & McLennan Companies, Inc., (3)		2,992,937
	127,862	Swiss Re AG, (2), (4)		2,749,033
		Total Insurance		10,267,995

		IT Services – 4.6%

	52,163	Accenture Limited		5,125,536
	75,263	Fidelity National Information Services		5,048,642
		Total IT Services		10,174,178

		Machinery – 0.8%

	27,665	Kubota Corporation, (4)		1,888,952

		Media – 1.1%

	23,759	WPP Group PLC		2,471,650

		Metals & Mining – 0.9%

	60,581	BHP Billiton Limited		1,915,571

		Multiline Retail – 1.7%

	71,604	Macy’s, Inc.		3,674,717

		Oil, Gas & Consumable Fuels – 6.6%

	114,904	BG Group PLC, (4)		1,674,151
	51,205	Chevron Corporation, (3)		4,039,050
	122,244	Kinder Morgan, Inc., (2), (3)		3,383,714
	43,389	Phillips 66, (2)		3,334,011
	52,504	Total SA, Sponsored ADR		2,347,454
		Total Oil, Gas & Consumable Fuels		14,778,380


	2			Nuveen Investments


Shares		Description (1)					Value

		Personal Products – 0.7%

	46,905	L’Oreal, (4)					$	1,625,727

		Pharmaceuticals – 10.1%

	86,197	AbbVie Inc.						4,689,980
	33,421	Johnson & Johnson, (2)						3,119,850

	51,482	Novartis AG, Sponsored ADR, (2)						4,732,225
	52,849	Novo-Nordisk A/S, (3)						2,866,530
	156,865	Pfizer Inc., (2)						4,927,130
	43,498	Sanofi-Aventis						2,064,850
		Total Pharmaceuticals						22,400,565

		Professional Services – 3.3%

	97,182	Experian PLC, (4)						1,565,602
	128,639	Nielsen Holdings N.V. (3)						5,720,576
		Total Professional Services						7,286,178

		Road & Rail – 1.9%

	48,507	Union Pacific Corporation, (2)						4,288,504

		Software – 2.7%

	99,216	Microsoft Corporation, (2), (3)						4,391,300
	24,970	SAP SE, Sponsored ADR, (2)						1,617,806
		Total Software						6,009,106

		Specialty Retail – 2.0%

	66,154	Lowe’s Companies, Inc., (2), (3)						4,559,334

		Technology Hardware, Storage & Peripherals – 4.5%

	59,359	Apple, Inc., (2), (3)						6,547,298
	140,241	EMC Corporation						3,388,223
		Total Technology Hardware, Storage & Peripherals						9,935,521

		Textiles, Apparel & Luxury Goods – 2.2%

	72,968	VF Corporation						4,977,147

		Trading Companies & Distributors – 1.2%

	124,080	Itochu Corporation, (4)						2,605,618

		Wireless Telecommunication Services – 1.9%

	202,763	KDDI Corporation, (3), (4)						2,279,056
	63,102	Vodafone Group PLC, Sponsored ADR, (2)						2,002,857
		Total Wireless Telecommunication Services						4,281,913
		Total Common Stocks (cost $202,419,175)						234,615,611

Shares		Description (1)	Coupon		Ratings (5)		Value


		CONVERTIBLE PREFERRED SECURITIES – 0.4% (0.3% of Total Investments)

		Diversified Telecommunication Services – 0.4%

	9,100	Frontier Communications Corporation		11.125%		N/R	$	847,665
		Total Convertible Preferred Securities (cost $919,790)						847,665

Shares		Description (1)	Coupon		Ratings (5)		Value

		$25 PAR (OR SIMILAR) RETAIL PREFERRED– 25.3% (17.1% of Total Investments)

		Asset Backed Securities – 0.4%

	15,085	Oxford Lane Capital Corporation		8.125%		N/R	$	379,388
	18,010	Oxford Lane Capital Corporation		7.500%		N/R		434,041
		Total Asset Backed Securities						813,429


Nuveen Investments			3


JTD	Nuveen Tax-Advantaged Dividend Growth Fund
	Portfolio of Investments (continued)	September 30, 2015 (Unaudited)



Shares		Description (1)	Coupon		Ratings (5)		Value

		Banks – 4.8%

	33,065	Boston Private Financial Holdings Inc.		6.950%		N/R	$	840,512
	4,615	Citigroup Inc.		8.125%		BB+		132,266
	17,200	Citigroup Inc.		7.125%		BB+		463,024
	15,955	City National Corporation		6.750%		Baa2		457,111

	8,700	Cobank Agricultural Credit Bank, 144A, (4)		6.250%		BBB+		899,363
	2,209	Cobank Agricultural Credit Bank, (4)		6.125%		BBB+		214,342
	32,800	Fifth Third Bancorp.		6.625%		Baa3		893,800
	15,765	First Naigara Finance Group		8.625%		BB-		417,930
	32,600	FNB Corporation		7.250%		Ba2		949,638
	9,500	HSBC Holdings PLC		8.000%		Baa1		242,345
	5,375	PNC Financial Services		6.125%		Baa2		147,329
	15,211	Private Bancorp Incorporated		7.125%		N/R		406,438
	37,375	RBS Capital Trust		6.080%		BB-		913,819
	51,825	Regions Financial Corporation		6.375%		BB		1,349,005
	62,171	U.S. Bancorp.		6.500%		A3		1,785,551
	21,224	Zions Bancorporation		7.900%		BB-		573,897
		Total Banks						10,686,370

		Capital Markets – 3.8%

	6,700	Apollo Investment Corporation		6.875%		BBB		169,845
	25,675	Apollo Investment Corporation		6.625%		BBB		639,564
	22,570	Capitala Finance Corporation		7.125%		N/R		569,893
	36,400	Charles Schwab Corporation		6.000%		BBB		916,188
	35,000	Fifth Street Finance Corporation		6.125%		BBB-		869,400
	7,600	Gladstone Capital Corporation		6.750%		N/R		194,408
	9,655	Hercules Technology Growth Capital Incorporated		7.000%		N/R		245,044
	37,300	Hercules Technology Growth Capital Incorporated		6.250%		N/R		935,857
	4,900	JMP Group Inc.		7.250%		N/R		122,843
	37,900	Ladenburg Thalmann Financial Services Inc.		8.000%		N/R		881,175
	11,273	Medley Capital Corporation		6.125%		N/R		275,512
	32,400	Morgan Stanley		7.125%		Ba1		889,380
	19,225	MVC Capital Incorporated		7.250%		N/R		453,518
	48,790	Solar Capital Limited		6.750%		BBB-		1,129,001
	2,472	Triangle Capital Corporation		6.375%		N/R		61,849
		Total Capital Markets						8,353,477

		Consumer Finance – 1.2%

	36,550	Capital One Financial Corporation		6.700%		Baa3		968,575
	18,225	Discover Financial Services		6.500%		BB-		470,387
	7,470	HSBC Finance Corporation		6.360%		BBB-		187,198
	22,575	SLM Corporation, Series A		6.970%		B1		997,815
		Total Consumer Finance						2,623,975

		Diversified Financial Services – 0.8%

	35,300	KKR Financial Holdings LLC		7.375%		BBB		923,801
	16,444	Main Street Capital Corporation		6.125%		N/R		416,855
	15,650	PennantPark Investment Corporation		6.250%		BBB-		390,624
		Total Diversified Financial Services						1,731,280

		Electric Utilities – 0.4%

	35,700	Entergy Arkansas Inc., (4)		6.450%		BB+		896,962

		Food Products – 0.9%

	39,225	CHS Inc.		7.100%		N/R		1,041,816
	36,210	CHS Inc.		6.750%		N/R		938,201
		Total Food Products						1,980,017

		Insurance – 4.0%

	8,700	Arch Capital Group Limited		6.750%		BBB+		224,373
	29,600	Argo Group US Inc.		6.500%		BBB-		744,440


	4			Nuveen Investments



Shares		Description (1)	Coupon		Ratings (5)		Value

		Insurance (continued)

	14,298	Aspen Insurance Holdings Limited		7.401%		BBB-	$	370,318
	50,000	Aspen Insurance Holdings Limited		7.250%		BBB-		1,306,000
	27,300	Axis Capital Holdings Limited		6.875%		BBB		711,711
	65,000	Endurance Specialty Holdings Limited		7.500%		BBB-		1,675,700
	23,300	Kemper Corporation		7.375%		Ba1		613,256
	36,036	Maiden Holdings Limited		8.250%		BB		963,242
	14,094	Maiden Holdings NA Limited		8.000%		BBB-		372,082

	17,943	Maiden Holdings NA Limited		7.750%		BBB-		483,564
	29,500	National General Holding Company		7.500%		N/R		736,025
	12,750	National General Holding Company		7.500%		N/R		316,965
	16,575	Reinsurance Group of America Inc.		6.200%		BBB		458,962
		Total Insurance						8,976,638

		Multi-Utilities – 0.5%

	46,370	DTE Energy Company		6.500%		Baa1		1,198,664

		Oil, Gas & Consumable Fuels – 0.2%

	4,950	Scorpio Tankers Inc.		7.500%		N/R		121,275
	16,203	Scorpio Tankers Inc.		6.750%		N/R		356,952
		Total Oil, Gas & Consumable Fuels						478,227

		Real Estate Investment Trust – 7.1%

	8,400	AG Mortgage Investment Trust		8.250%		N/R		190,344
	515	AG Mortgage Investment Trust		8.000%		N/R		11,747
	38,800	Apartment Investment & Management Company		7.000%		BB		982,028
	19,277	Apollo Commercial Real Estate Finance		8.625%		N/R		485,973
	3,558	Apollo Residential Mortgage Inc.		8.000%		N/R		80,553
	19,269	Arbor Realty Trust Incorporated		7.375%		N/R		457,831
	59,682	Ashford Hospitality Trust Inc.		9.000%		N/R		1,534,424
	15,000	Capstead Mortgage Corporation		7.500%		N/R		363,000
	13,250	Colony Financial Inc.		7.125%		N/R		289,645
	4,662	Colony Financial Inc.		8.500%		N/R		119,114
	14,030	Colony Financial Inc.		7.500%		N/R		346,962
	31,350	DDR Corporation		6.500%		Baa3		787,826
	33,600	Digital Realty Trust Inc.		7.375%		Baa3		896,784
	72,500	Dupont Fabros Technology		7.875%		Ba2		1,813,950
	8,239	First Potomac Realty Trust		7.750%		N/R		209,847
	22,075	Inland Real Estate Corporation		8.125%		N/R		562,913
	4,900	Inland Real Estate Corporation		6.950%		N/R		122,745
	18,700	Invesco Mortgage Capital Inc.		7.750%		N/R		430,287
	2,495	Kite Realty Group Trust		8.250%		N/R		63,273
	11,469	MFA Financial Inc.		8.000%		N/R		292,574
	6,593	MFA Financial Inc.		7.500%		N/R		161,529
	22,900	Northstar Realty Finance Corporation		8.875%		N/R		556,928
	11,327	Northstar Realty Finance Corporation		8.750%		N/R		274,453
	28,273	Northstar Realty Finance Corporation		8.250%		N/R		662,436
	36,600	Penn Real Estate Investment Trust		7.375%		N/R		927,810
	20,498	Rait Financial Trust		7.625%		N/R		435,583
	17,875	Rait Financial Trust		7.125%		N/R		389,854
	6,287	Rait Financial Trust		7.750%		N/R		114,423
	20,175	Regency Centers Corporation		6.625%		Baa2		509,419
	23,749	Resource Capital Corporation		8.625%		N/R		437,457
	19,175	Senior Housing Properties Trust		5.625%		BBB-		470,363
	3,800	STAG Industrial Inc.		6.625%		BB+		92,150
	32,755	VEREIT, Inc.		6.700%		N/R		792,671
		Total Real Estate Investment Trust						15,866,896

		Real Estate Management & Development – 0.2%

	16,770	Kennedy-Wilson Inc.		7.750%		BB-		422,604

		Specialty Retail – 0.4%

	32,700	TravelCenters of America LLC		8.000%		N/R		827,310


Nuveen Investments			5


JTD	Nuveen Tax-Advantaged Dividend Growth Fund
	Portfolio of Investments (continued)	September 30, 2015 (Unaudited)



Shares		Description (1)	Coupon				Ratings (5)		Value

		Wireless Telecommunication Services – 0.4%

	36,400	United States Cellular Corporation		7.250%				Ba1	$	920,920

		U.S. Agency – 0.2%

	4,750	Farm Credit Bank of Texas, 144A, (4)		6.750%				Baa1		496,078
		Total $25 Par (or similar) Retail Preferred (cost $54,734,371)								56,272,847

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value


		CORPORATE BONDS – 4.1% (2.8% of Total Investments)

		Banks – 1.3%

$	525	Bank of America Corporation		6.250%		3/05/65		BB+	$	513,187
	825	Citigroup Inc.		5.950%		12/31/49		BB+		777,563
	575	JPMorgan Chase & Company		6.750%		12/31/49		BBB-		598,719
	975	M&T Bank Corporation		6.450%		12/31/49		Baa2		1,033,500
	2,900	Total Banks								2,922,969

		Beverages – 0.3%

	450	Cott Beverages USA, Inc.		6.750%		1/01/20		B-		462,375
	150	Cott Beverages USA, Inc.		5.375%		7/01/22		B-		145,311
	600	Total Beverages								607,686

		Capital Markets – 0.1%

	300	BGC Partners Inc.		5.375%		12/09/19		BBB-		309,000

		Commercial Services & Supplies – 0.3%

	450	GFL Environmental Corporation, 144A		7.875%		4/01/20		B		460,688
	350	R.R. Donnelley & Sons Company		6.500%		11/15/23		BB-		329,000
	800	Total Commercial Services & Supplies								789,688

		Diversified Consumer Services – 0.1%

	250	Gibson Brands Inc., 144A		8.875%		8/01/18		B-		220,625

		Diversified Telecommunication Services – 0.6%

	350	Frontier Communications Corporation, 144A		11.000%		9/15/25		BB		338,625
	500	Frontier Communications Corporation, (2)		7.625%		4/15/24		BB		417,500
	582	US West Communications Company		6.875%		9/15/33		BBB-		561,901
	1,432	Total Diversified Telecommunication Services								1,318,026

		Health Care Providers & Services – 0.2%

	415	Kindred Healthcare Inc.		6.375%		4/15/22		B2		411,888

		Marine – 0.3%

	825	Teekay Offshore Partners LP/Teekay Offshore Finance Corporation		6.000%		7/30/19		N/R		602,250

		Media – 0.1%

	250	Altice S.A, 144A		7.625%		2/15/25		B		220,781

		Metals & Mining – 0.1%

	450	ArcelorMittal		7.750%		10/15/39		Ba1		366,750

		Real Estate Investment Trust – 0.3%

	475	Communications Sales & Leasing Inc.		8.250%		10/15/23		BB		406,125
	225	Select Income REIT		4.500%		2/01/25		Baa2		216,401
	700	Total Real Estate Investment Trust								622,526


	6			Nuveen Investments


Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value

		Real Estate Management & Development – 0.4%

$	770	Forestar USA Real Estate Group Inc., 144A		8.500%		6/01/22		B+	$	796,950
	25	Kennedy-Wilson Holdings Incorporated		5.875%		4/01/24		BB-		24,437
	795	Total Real Estate Management & Development								821,387
$	9,717	Total Corporate Bonds (cost $9,763,554)								9,213,576

Principal Amount (000)/ Shares		Description (1)	Coupon		Maturity		Ratings (5)		Value

		$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 8.2% (5.6% of Total Investments)

		Banks – 3.9%

	675	Bank of America Corporation		6.500%		N/A (6)		BB+	$	688,500
	600	Bank of America Corporation		6.100%		N/A (6)		BB+		585,000
	875	Citigroup Inc.		5.800%		N/A (6)		BB+		861,219
	800	Citizens Financial Group Inc., 144A		5.500%		N/A (6)		BB+		780,000
	575	General Electric Capital Corporation		6.250%		N/A (6)		A+		623,875
	1,000	General Electric Capital Corporation		7.125%		N/A (6)		A+		1,155,000
	1,000	JPMorgan Chase & Company		7.900%		N/A (6)		BBB-		1,038,750
	125	JPMorgan Chase & Company		6.100%		N/A (6)		BBB-		124,188
	1,000	PNC Financial Services Inc.		6.750%		N/A (6)		Baa2		1,085,000
	900	SunTrust Bank Inc.		5.625%		11/26/18		Baa3		900,000
	900	Wells Fargo & Company		5.875%		N/A (6)		BBB		921,375
	50	Zions Bancorporation		7.200%		N/A (6)		BB-		53,438
	8,500	Total Banks								8,816,345

		Capital Markets – 0.4%

	850	Morgan Stanley		5.550%		N/A (6)		Ba1		837,250

		Consumer Finance – 0.8%

	488	Ally Financial Inc., 144A		7.000%		N/A (6)		B		489,540
	900	American Express Company		5.200%		N/A (6)		Baa2		891,270
	400	Capital One Financial Corporation		5.550%		N/A (6)		Baa3		395,000
	1,788	Total Consumer Finance								1,775,810

		Food Products – 0.9%

	1,890	Land O’ Lakes Incorporated, 144A		8.000%		N/A (6)		BB		1,932,525

		Insurance – 1.9%

	895	Liberty Mutual Group, 144A		7.800%		3/15/37		Baa3		1,040,437
	1,000	MetLife Inc.		10.750%		8/01/39		BBB		1,560,000
	1,000	National Financial Services Inc.		6.750%		5/15/37		Baa2		1,005,000
	594	Symetra Financial Corporation, 144A, (2)		8.300%		10/15/37		BBB-		607,365
	3,489	Total Insurance								4,212,802

		Specialty Retail – 0.3%

	758	Swiss Re Capital I, 144A		6.854%		N/A (6)		A		768,422
	17,275	Total $1,000 Par (or similar) Institutional Preferred (cost $17,206,726)								18,343,154
		Total Long-Term Investments (cost $285,043,616)								319,292,853

Principal Amount (000)		Description (1)	Coupon		Maturity				Value

		SHORT-TERM INVESTMENTS – 4.0% (2.7% of Total Investments)

		REPURCHASE AGREEMENTS – 4.0%

$	8,924	Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/15, repurchase price $8,923,510, collateralized by $8,705,000 U.S. Treasury Notes, 2.500%, due 8/15/23, value $9,107,606		0.000%		10/01/15			$	8,923,510
		Total Short-Term Investments (cost $8,923,510)								8,923,510
		Total Investments (cost $293,967,126) – 147.4%								328,216,363
		Borrowings – (46.0)% (7), (8)								(102,500,000	)
		Other Assets Less Liabilities – (1.4)% (9)								(3,134,861	)
		Net Assets Applicable to Common Shares – 100%							$	222,581,502


Nuveen Investments			7


JTD	Nuveen Tax-Advantaged Dividend Growth Fund
	Portfolio of Investments (continued)	September 30, 2015 (Unaudited)

Investments in Derivatives as of September 30, 2015

Options Written outstanding:


Number of Contracts			Description	Notional Amount (10)			Expiration Date		Strike Price		Value
	(150	)	CBOE SPX Volatility Index	$	(450,000	)		10/21/15	$	30	$	(12,750	)
	(150	)	CBOE SPX Volatility Index		(375,000	)		10/21/15		25		(25,875	)
	(100	)	NASDAQ 100^® Index		(44,000,000	)		11/20/15		4,400		(444,000	)
	(110	)	Russell 2000^® Index		(12,870,000	)		11/20/15		1,170		(84,150	)
	(160	)	Russell 2000^® Index		(18,560,000	)		11/20/15		1,160		(164,800	)
	(225	)	S&P 500^® Index		(45,000,000	)		11/20/15		2,000		(374,625	)
	(895	)	Total Options Written (premiums received $960,148)	$	(121,255,000	)					$	(1,106,200	)

Interest Rate Swaps outstanding:


Counterparty	Notional Amount		Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Effective Date (11)		Termination Date		Unrealized Appreciation (Depreciation)
JPMorgan	$	27,625,000		Receive		1-Month USD-LIBOR-ICE		1.462	%		Monthly		12/01/15		12/01/20	$	(638,532	)
JPMorgan		27,625,000		Receive		1-Month USD-LIBOR-ICE		1.842			Monthly		12/01/15		12/01/22		(969,369	)
	$	55,250,000														$	(1,607,901	)

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 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:
Common Stocks	$	190,853,400		$	43,762,211		$	—	$	234,615,611
Convertible Preferred Securities		847,665			—			—		847,665
$25 Par (or similar) Retail Preferred		53,766,102			2,506,745			—		56,272,847
Corporate Bonds		—			9,213,576			—		9,213,576
$1,000 Par (or similar) Institutional Preferred		—			18,343,154			—		18,343,154
Short-Term Investments:
Repurchase Agreements		—			8,923,510			—		8,923,510
Investments in Derivatives:
Options Written		(1,106,200	)		—			—		(1,106,200	)
Interest Rate Swaps*		—			(1,607,901	)		—		(1,607,901	)
Total	$	244,360,967		$	81,141,295		$	—	$	325,502,262

*	Represents net unrealized appreciation (depreciation).


	8			Nuveen Investments

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 the recognition of unrealized gain or loss for tax (mark-to-market) on option contracts, timing differences in the recognition of income and timing differences in recognizing certain gains and losses on investment transactions. 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 September 30, 2015, the cost of investments (excluding investments in derivatives) was $294,856,373.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of September 30, 2015, were as follows:

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 applicable to common shares unless otherwise noted.

(2)	Investment, or portion of investment, is out on loan. The total value of investments out on loan as of the end of the reporting period was $65,134,069.

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

(4)	For fair value measurement disclosure purposes, investment classified as Level 2.

(5)

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.

(6)	Perpetual security. Maturity date is not applicable.

(7)	Borrowings as a percentage of Total Investments is 31.2%.

(8)

The Fund may pledge up to 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives) in the Portfolio of Investments as collateral for borrowings. As of the end of the reporting period, investments with a value of $224,943,822 have been pledged as collateral for borrowings.

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

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

(11)	Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each contract.

144A	Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

ADR	American Depositary Receipt

REIT	Real Estate Investment Trust

USD-LIBOR-ICE

United States Dollar-London Inter-Bank Offered Rate Intercontinental Exchange.


Nuveen Investments			9

Item 2. Controls and Procedures.

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)).

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 Tax-Advantaged Dividend Growth Fund

By (Signature and Title)		/s/ Kevin J. McCarthy
		Kevin J. McCarthy
		Vice President and Secretary

Date: November 27, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By (Signature and Title)		/s/ Gifford R. Zimmerman
		Gifford R. Zimmerman
		Chief Administrative Officer (principal executive officer)

Date: November 27, 2015

By (Signature and Title)		/s/ Stephen D. Foy
		Stephen D. Foy
		Vice President and Controller (principal financial officer)

Date: November 27, 2015