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 811-21033
 
Nuveen Connecticut 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:          2/29/12         
 
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 Connecticut Dividend Advantage Municipal Fund 2 (NGK)  
     
   
February 29, 2012  
     
Principal  
   
Optional Call  
   
Amount (000)  
 
Description (1)  
Provisions (2)  
Ratings (3)  
Value  
   
Consumer Staples – 1.8% (1.1% of Total Investments)  
     
$ 640  
 
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,  
5/12 at 100.00  
BBB  
$ 633,158  
   
Series 2002, 5.375%, 5/15/33  
     
   
Education and Civic Organizations – 39.2% (25.3% of Total Investments)  
     
275  
 
Connecticut Health and Education Facilities Authority, Revenue Bonds, Connecticut College,  
7/21 at 100.00  
A2  
301,747  
   
Series 2011H, 5.000%, 7/01/41  
     
200  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School,  
7/16 at 100.00  
N/R  
201,692  
   
Series 2006B, 5.000%, 7/01/36 – RAAI Insured  
     
135  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate  
7/17 at 100.00  
N/R  
139,393  
   
School, Series 2007A, 5.000%, 7/01/27 – RAAI Insured  
     
500  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University,  
7/20 at 100.00  
A–  
543,070  
   
Series 2010-O, 5.000%, 7/01/40  
     
310  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School,  
No Opt. Call  
A2  
378,088  
   
Series 2005F, 5.250%, 7/01/19 – AMBAC Insured  
     
715  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University,  
7/17 at 100.00  
A–  
781,159  
   
Series 2007-I, 5.000%, 7/01/25 – NPFG Insured  
     
   
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School,  
     
   
Series 2007A:  
     
75  
 
5.000%, 7/01/30 – AMBAC Insured  
7/17 at 100.00  
N/R  
79,178  
120  
 
5.000%, 7/01/37 – AMBAC Insured  
7/17 at 100.00  
N/R  
123,702  
500  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart  
7/21 at 100.00  
BBB  
547,865  
   
University, Series 2011G, 5.625%, 7/01/41  
     
450  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart  
7/22 at 100.00  
AA–  
495,185  
   
University, Series 2012H, 5.000%, 7/01/28 – AGM Insured  
     
   
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of  
     
   
Hartford, Series 2002E:  
     
590  
 
5.500%, 7/01/22 – RAAI Insured  
7/12 at 101.00  
BBB–  
599,175  
1,000  
 
5.250%, 7/01/32 – RAAI Insured  
7/12 at 101.00  
BBB–  
1,011,480  
500  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of  
7/16 at 100.00  
BBB–  
506,145  
   
Hartford, Series 2006G, 5.250%, 7/01/36 – RAAI Insured  
     
800  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University,  
7/20 at 100.00  
AA  
896,856  
   
Series 2010G, 5.000%, 7/01/35  
     
500  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University,  
7/13 at 100.00  
AAA  
523,545  
   
Series 2003X-1, 5.000%, 7/01/42 (UB)  
     
1,600  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University,  
7/16 at 100.00  
AAA  
1,755,856  
   
Series 2007Z-1, 5.000%, 7/01/42 (UB)  
     
2,750  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University,  
7/17 at 100.00  
AAA  
3,033,525  
   
Series 2007Z-3, 5.050%, 7/01/42 (UB) (4)  
     
   
University of Connecticut, General Obligation Bonds, Series 2006A:  
     
450  
 
5.000%, 2/15/19 – FGIC Insured  
2/16 at 100.00  
AA  
519,413  
490  
 
5.000%, 2/15/23 – FGIC Insured  
2/16 at 100.00  
AA  
558,208  
460  
 
University of Connecticut, General Obligation Bonds, Series 2010A, 5.000%, 2/15/28  
2/20 at 100.00  
AA  
539,828  
500  
 
University of Connecticut, Student Fee Revenue Refunding Bonds, Series 2002A, 5.250%,  
11/12 at 101.00  
Aa2  
521,595  
   
11/15/22 – FGIC Insured  
     
12,920  
 
Total Education and Civic Organizations  
   
14,056,705  
   
Health Care – 32.0% (20.7% of Total Investments)  
     
300  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital,  
7/12 at 101.00  
N/R  
301,542  
   
Series 2002B, 5.500%, 7/01/32 – RAAI Insured  
     
   
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut  
     
   
Health Network, Series 2000A:  
     
20  
 
6.125%, 7/01/20 – RAAI Insured  
7/12 at 100.00  
N/R  
20,038  
315  
 
6.000%, 7/01/25 – RAAI Insured  
7/12 at 100.00  
N/R  
315,387  
   
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital,  
     
   
Series 2005B:  
     
400  
 
5.000%, 7/01/15 – RAAI Insured  
No Opt. Call  
N/R  
432,096  
300  
 
5.000%, 7/01/20 – RAAI Insured  
7/15 at 100.00  
N/R  
311,268  
300  
 
5.000%, 7/01/23 – RAAI Insured  
7/15 at 100.00  
N/R  
306,732  
1,030  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare,  
7/21 at 100.00  
A
1,082,087  
   
Series 2011A, 5.000%, 7/01/41  
     
170  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special  
7/17 at 100.00  
BBB–  
173,193  
   
Care, Series 2007C, 5.250%, 7/01/32 – RAAI Insured  
     
400  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial  
7/21 at 100.00  
A+  
424,328  
   
Hospitals, Series 2011F, 5.000%, 7/01/36  
     
1,190  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital,  
7/16 at 100.00  
Aa3  
1,241,967  
   
Series 2006, 5.000%, 7/01/32 – AGM Insured  
     
1,000  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, St. Francis Hospital  
7/12 at 101.00  
N/R  
1,003,400  
   
and Medical Center, Series 2002D, 5.000%, 7/01/22 – RAAI Insured  
     
315  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital,  
7/20 at 100.00  
A
340,965  
   
Series 2010-I, 5.000%, 7/01/30  
     
550  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut  
7/21 at 100.00  
A
600,133  
   
Health, Series 2011M, 5.375%, 7/01/41  
     
750  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut  
7/21 at 100.00  
A
812,490  
   
Health, Series 2011N, 5.000%, 7/01/29  
     
1,170  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven  
7/16 at 100.00  
Aa3  
1,248,039  
   
Hospital, Series 2006J-1, 5.000%, 7/01/31 – AMBAC Insured  
     
200  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven  
7/20 at 100.00  
Aa3  
224,474  
   
Hospital, Series 2010M, 5.500%, 7/01/40  
     
800  
 
Connecticut Health and Eductaional Facilities Authority, Revenue Bonds, Ascension Health  
11/19 at 100.00  
AA+  
860,000  
   
Series 2010A, 5.000%, 11/15/40  
     
175  
 
Connecticut Health and Eductaional Facilities Authority, Revenue Bonds, Catholic Health East  
11/20 at 100.00  
A
191,088  
   
Series 2010, 4.750%, 11/15/29  
     
1,400  
 
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue  
2/21 at 100.00  
Aa2  
1,581,006  
   
Bonds, Unity Hospital of Rochestor Project, Series 2010, 5.500%, 8/15/40  
     
10,785  
 
Total Health Care  
   
11,470,233  
   
Housing/Multifamily – 1.4% (0.9% of Total Investments)  
     
480  
 
Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds,  
11/15 at 100.00  
AAA  
488,371  
   
Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax)  
     
   
Housing/Single Family – 8.2% (5.3% of Total Investments)  
     
250  
 
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2001C,  
5/12 at 100.00  
AAA  
250,138  
   
5.450%, 11/15/43 (Alternative Minimum Tax)  
     
700  
 
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5,  
5/13 at 100.00  
AAA  
709,590  
   
5.050%, 11/15/34  
     
   
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006-A1:  
     
305  
 
4.700%, 11/15/26 (Alternative Minimum Tax)  
11/15 at 100.00  
AAA  
310,014  
330  
 
4.800%, 11/15/31 (Alternative Minimum Tax)  
11/15 at 100.00  
AAA  
333,947  
585  
 
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D,  
5/16 at 100.00  
AAA  
606,458  
   
4.650%, 11/15/27  
     
700  
 
Connecticut Housing Finance Authority, Single Family Housing Mortgage Finance Program Bonds,  
11/19 at 100.00  
AAA  
729,309  
   
Series 2010-A2, 4.750%, 11/15/35  
     
2,870  
 
Total Housing/Single Family  
   
2,939,456  
   
Long-Term Care – 3.2% (2.1% of Total Investments)  
     
320  
 
Connecticut Development Authority, First Mortgage Gross Revenue Healthcare Bonds, Elim Park  
12/13 at 100.00  
BBB  
326,822  
   
Baptist Home Inc., Series 2003, 5.750%, 12/01/23  
     
450  
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Village for Families  
7/12 at 101.00  
N/R  
456,827  
   
and Children Inc., Series 2002A, 5.000%, 7/01/19 – AMBAC Insured  
     
250  
 
Connecticut State Development Authority, Health Facilities Revenue Bonds, Alzheimer’s Resource  
8/17 at 100.00  
N/R  
253,758  
   
Center of Connecticut, Inc., Series 2007, 5.500%, 8/15/27  
     
105  
 
Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009A, 7.625%, 1/01/30  
1/20 at 100.00  
N/R  
111,557  
1,125  
 
Total Long-Term Care  
   
1,148,964  
   
Tax Obligation/General – 11.5% (7.4% of Total Investments)  
     
600  
 
Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24  
12/16 at 100.00  
AA  
695,448  
400  
 
Connecticut State, General Obligation Bonds, Series 2006C, 5.000%, 6/01/23 – AGM Insured  
6/16 at 100.00  
AA  
464,024  
   
Hartford, Connecticut, General Obligation Bonds, Series 2005A:  
     
360  
 
5.000%, 8/01/21 – AGM Insured  
8/15 at 100.00  
AA–  
407,779  
140  
 
4.375%, 8/01/24 – AGM Insured  
8/15 at 100.00  
AA–  
147,876  
650  
 
New Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 11/01/17 – AMBAC Insured  
11/16 at 100.00  
A1  
754,501  
1,000  
 
Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G,  
8/21 at 100.00  
AA+  
1,148,470  
   
5.000%, 8/01/36  
     
400  
 
Suffield, Connecticut, General Obligation Bonds, Series 2005, 5.000%, 6/15/21  
No Opt. Call  
AA+  
509,088  
3,550  
 
Total Tax Obligation/General  
   
4,127,186  
   
Tax Obligation/Limited – 16.7% (10.8% of Total Investments)  
     
   
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue  
     
   
Bonds, Series 2006F:  
     
575  
 
5.000%, 7/01/31 – AGC Insured  
7/16 at 100.00  
AA–  
610,961  
500  
 
5.000%, 7/01/36 – AGC Insured  
7/16 at 100.00  
AA–  
526,530  
850  
 
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds,  
8/17 at 100.00  
AA  
957,525  
   
Series 2007A, 5.000%, 8/01/27 – AMBAC Insured  
     
500  
 
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue  
4/20 at 100.00  
N/R  
556,740  
   
Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39  
     
500  
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%,  
No Opt. Call  
Baa1  
544,330  
   
7/01/31 – AMBAC Insured  
     
430  
 
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A,  
No Opt. Call  
BBB+  
130,514  
   
0.000%, 7/01/32 – FGIC Insured  
     
750  
 
Puerto Rico Municipal Finance Agency, Series 2005C, 5.000%, 8/01/16 – AGM Insured  
8/15 at 100.00  
AA–  
823,478  
1,000  
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series  
2/20 at 100.00  
A+  
1,082,310  
   
2010A, 5.375%, 8/01/39  
     
300  
 
Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series  
4/21 at 100.00  
N/R  
310,983  
   
2011aA, 7.000%, 4/01/41  
     
420  
 
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien  
10/20 at 100.00  
BBB  
442,919  
   
Series 2010A, 5.000%, 10/01/29  
     
5,825  
 
Total Tax Obligation/Limited  
   
5,986,290  
   
Transportation – 5.9% (3.8% of Total Investments)  
     
1,950  
 
New Haven, Connecticut, Revenue Refunding Bonds, Air Rights Parking Facility, Series 2002,  
No Opt. Call  
N/R  
2,113,235  
   
5.375%, 12/01/15 – AMBAC Insured  
     
   
U.S. Guaranteed – 17.9% (11.6% of Total Investments) (5)  
     
1,625  
 
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2002A,  
7/12 at 100.00  
AA (5)  
1,653,665  
   
5.375%, 7/01/20 (Pre-refunded 7/01/12) – AGM Insured  
     
785  
 
Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16  
10/13 at 100.00  
AAA  
843,891  
   
(Pre-refunded 10/01/13)  
     
   
Farmington, Connecticut, General Obligation Bonds, Series 2002:  
     
1,000  
 
5.000%, 9/15/20 (Pre-refunded 9/15/12)  
9/12 at 101.00  
Aaa  
1,036,360  
1,450  
 
5.000%, 9/15/21 (Pre-refunded 9/15/12)  
9/12 at 101.00  
Aaa  
1,502,722  
805  
 
Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2002,  
4/12 at 101.00  
AA+ (5)  
816,544  
   
5.000%, 4/01/22 (Pre-refunded 4/01/12)  
     
500  
 
West Hartford, Connecticut, General Obligation Bonds, Series 2005B, 5.000%, 10/01/17  
10/15 at 100.00  
AAA  
578,285  
   
(Pre-refunded 10/01/15)  
     
6,165  
 
Total U.S. Guaranteed  
   
6,431,467  
   
Utilities – 6.2% (4.0% of Total Investments)  
     
470  
 
Connecticut Development Authority, Solid Waste Disposal Facilities Revenue Bonds, PSEG Power  
11/12 at 100.00  
Baa1  
472,759  
   
LLC Project, Series 2007A, 5.750%, 11/01/37 (Alternative Minimum Tax)  
     
1,000  
 
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of  
12/12 at 101.00  
Ba1  
1,008,450  
   
Southeastern Connecticut LP, Series 1998A-II, 5.500%, 11/15/15 (Alternative Minimum Tax)  
     
   
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator  
     
   
Lisbon Project, Series 1993A:  
     
250  
 
5.500%, 1/01/15 (Alternative Minimum Tax)  
7/12 at 100.00  
BBB  
250,750  
510  
 
5.500%, 1/01/20 (Alternative Minimum Tax)  
7/12 at 100.00  
BBB  
511,811  
2,230  
 
Total Utilities  
   
2,243,770  
   
Water and Sewer – 10.9% (7.0% of Total Investments)  
     
220  
 
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company  
9/17 at 100.00  
N/R  
222,154  
   
Project, Series 2007, 5.100%, 9/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax)  
     
   
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System  
     
   
Revenue Bonds, Series 2005A:  
     
690  
 
5.000%, 11/15/30 – NPFG Insured  
11/15 at 100.00  
A1  
729,509  
320  
 
5.000%, 8/15/35 – NPFG Insured  
11/15 at 100.00  
A1  
334,339  
130  
 
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds,  
7/15 at 100.00  
Ba2  
133,020  
   
Series 2005, 6.000%, 7/01/25  
     
350  
 
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds,  
7/20 at 100.00  
Ba2  
351,474  
   
Series 2010, 5.625%, 7/01/40  
     
500  
 
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A,  
7/18 at 100.00  
Baa2  
539,355  
   
6.000%, 7/01/38  
     
   
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth  
     
   
Series 2003A:  
     
750  
 
5.000%, 8/01/20 – NPFG Insured  
8/13 at 100.00  
Aa3  
780,533  
410  
 
5.000%, 8/01/33 – NPFG Insured  
8/13 at 100.00  
Aa3  
419,221  
350  
 
South Central Connecticut Regional Water Authority, Water System Revenue Bonds,  
8/21 at 100.00  
Aa3  
388,992  
   
Twentieth-Sixth Series, 2011, 5.000%, 8/01/41  
     
3,720  
 
Total Water and Sewer  
   
3,898,597  
$ 52,260  
 
Total Investments (cost $52,493,329) – 154.9%  
   
55,537,432  
   
Floating Rate Obligations – (9.7)%  
   
(3,460,000)  
   
MuniFund Term Preferred Shares, at Liquidation Value – (47.3)% (6)  
   
(16,950,000)  
   
Other Assets Less Liabilities – 2.1%  
   
726,518  
   
Net Assets Applicable to Common Shares – 100%  
   
$ 35,853,950  
 
 
 
 

 
 
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 February 29, 2012:
 
 
                         
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:  
                       
Municipal Bonds  
  $     $ 55,537,432     $     $ 55,537,432  
 
During the period ended February 29, 2012, the Fund recognized no significant 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 February 29, 2012, the cost of investments was $49,030,008.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at February 29, 2012, were as follows:  
 
     
Gross unrealized:  
     
Appreciation  
  $ 3,178,890  
Depreciation  
    (132,504 )  
Net unrealized appreciation (depreciation) of investments  
  $ 3,046,386  
 
     
(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)  
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for  
   
investments in inverse floating rate transactions.  
(5)  
 
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.  
(6)  
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 30.5%.  
N/R  
 
Not rated.  
(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 Connecticut Dividend Advantage Municipal Fund 2 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date          April 27, 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          April 27, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date          April 27, 2012        
 

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