Edgar Filing: Nuveen Core Equity Alpha 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 811-22003

	Nuveen Core Equity Alpha 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:		12/31
Date of reporting period:			9/30/2012

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 Core Equity Alpha Fund (JCE)
		September 30, 2012

Shares		Description (1)						Value
		Common Stocks – 98.0%
		Aerospace & Defense – 0.6%
2,600		Honeywell International Inc.						$ 155,350
400		Northrop Grumman Corporation						26,572
1,100		Precision Castparts Corporation						179,674
4,300		Raytheon Company						245,788
29,900		Textron Inc.						782,483
		Total Aerospace & Defense						1,389,867
		Air Freight & Logistics – 0.2%
4,900		FedEx Corporation						414,638
		Airlines – 0.1%
14,900		Southwest Airlines Co.						130,673
		Automobiles – 0.1%
7,100		Harley-Davidson, Inc.						300,827
		Beverages – 1.3%
23,700		Beam Inc.						1,363,698
6,900		Brown-Forman Corporation						450,225
11,000		Coca-Cola Company						417,230
8,400		Dr. Pepper Snapple Group						374,052
1,300		Molson Coors Brewing Company, Class B						58,565
7,800		Monster Beverage Corporation, (2)						422,448
3,200		PepsiCo, Inc.						226,464
		Total Beverages						3,312,682
		Biotechnology – 1.4%
8,000		Alexion Pharmaceuticals Inc., (2)						915,200
2,300		Amgen Inc.						193,936
14,700		Biogen Idec Inc., (2)						2,193,681
2,400		Gilead Sciences, Inc., (2)						159,192
		Total Biotechnology						3,462,009
		Building Products – 0.1%
10,300		Masco Corporation						155,015
		Capital Markets – 0.8%
2,400		Ameriprise Financial, Inc.						136,056
600		BlackRock Inc.						106,980
5,200		Charles Schwab Corporation						66,508
7,400		E*Trade Group Inc., (2)						65,194
18,800		Federated Investors Inc.						388,972
600		Goldman Sachs Group, Inc.						68,208
26,700		Invesco LTD						667,233
4,200		Legg Mason, Inc.						103,656
15,500		Morgan Stanley						259,470
1,200		State Street Corporation						50,352
		Total Capital Markets						1,912,629
		Chemicals – 4.4%
12,700		Airgas, Inc.						1,045,210
6,400		E.I. Du Pont de Nemours and Company						321,728
31,600		Eastman Chemical Company						1,801,516
3,100		Ecolab Inc.						200,911
37,900		FMC Corporation						2,098,902
5,900		LyondellBasell Industries NV						304,794
800		Monsanto Company						72,816
6,800		PPG Industries, Inc.						780,912
27,700		Sherwin-Williams Company						4,124,807
		Total Chemicals						10,751,596
		Commercial Banks – 2.7%
116,800		BB&T Corporation						3,873,088
5,600		Fifth Third Bancorp.						86,856
14,500		First Horizon National Corporation						139,635
700		M&T Bank Corporation						66,612
139,100		Regions Financial Corporation						1,002,911
3,200		SunTrust Banks, Inc.						90,464
11,500		U.S. Bancorp						394,450
30,050		Wells Fargo & Company						1,037,627
		Total Commercial Banks						6,691,643
		Commercial Services & Supplies – 0.4%
19,600		Cintas Corporation						812,420
8,200		R.R. Donnelley & Sons Company						86,920
2,100		Waste Management, Inc.						67,368
		Total Commercial Services & Supplies						966,708
		Communications Equipment – 0.6%
23,100		Cisco Systems, Inc.						440,979
6,800		F5 Networks, Inc., (2)						711,960
1,500		Harris Corporation						76,830
7,028		Motorola Solutions Inc.						355,265
		Total Communications Equipment						1,585,034
		Computers & Peripherals – 4.9%
14,700		Apple, Inc., (2)						9,808,722
6,700		Dell Inc., (2)						66,062
3,600		EMC Corporation, (2)						98,172
12,900		NetApp, Inc., (2)						424,152
16,800		Seagate Technology						520,800
27,700		Western Digital Corporation, (2)						1,072,821
		Total Computers & Peripherals						11,990,729
		Construction Materials – 0.2%
11,200		Vulcan Materials Company						529,760
		Consumer Finance – 0.6%
37,800		Discover Financial Services						1,501,794
		Distributors – 0.6%
26,500		Genuine Parts Company						1,617,295
		Diversified Consumer Services – 0.2%
25,300		H & R Block Inc.						438,449
		Diversified Financial Services – 0.6%
16,600		Bank of America Corporation						146,578
800		Citigroup Inc.						26,176
3,000		CME Group, Inc.						171,900
10,205		JP Morgan Chase & Co.						413,098
10,100		Moody’s Corporation						446,117
6,500		New York Stock Exchange Euronext						160,225
		Total Diversified Financial Services						1,364,094
		Diversified Telecommunication Services – 1.1%
17,100		AT&T Inc.						644,670
34,770		CenturyLink Inc.						1,404,708
13,800		Verizon Communications Inc.						628,866
		Total Diversified Telecommunication Services						2,678,244
		Electric Utilities – 3.1%
1,700		American Electric Power Company, Inc.						74,698
51,556		Duke Energy Corporation						3,340,829
1,300		Edison International						59,397
11,700		FirstEnergy Corp.						515,970
10,800		NextEra Energy Inc.						759,564
28,500		Pinnacle West Capital Corporation						1,504,800
3,000		PPL Corporation						87,150
14,300		Southern Company						659,087
15,200		Xcel Energy, Inc.						421,192
		Total Electric Utilities						7,422,687
		Electrical Equipment – 0.8%
3,800		Cooper Industries Inc.						285,228
500		Emerson Electric Company						24,135
4,300		Rockwell Automation, Inc.						299,065
11,500		Roper Industries Inc.						1,263,735
		Total Electrical Equipment						1,872,163
		Electronic Equipment & Instruments – 0.3%
9,000		Amphenol Corporation, Class A						529,920
13,900		Jabil Circuit Inc.						260,208
		Total Electronic Equipment & Instruments						790,128
		Energy Equipment & Services – 1.0%
2,400		Diamond Offshore Drilling, Inc.						157,944
3,500		Ensco PLC						190,960
7,600		Nabors Industries Inc., (2)						106,628
20,700		National-Oilwell Varco Inc.						1,658,277
2,300		Noble Corporation, (2)						82,294
3,700		Rowan Companies Inc., (2)						124,949
842		Schlumberger Limited						60,902
		Total Energy Equipment & Services						2,381,954
		Food & Staples Retailing – 0.5%
1,300		Costco Wholesale Corporation						130,163
3,400		CVS Caremark Corporation						164,628
13,500		Safeway Inc.						217,215
2,500		Sysco Corporation						78,175
3,400		Wal-Mart Stores, Inc.						250,920
2,900		Whole Foods Market, Inc.						282,460
		Total Food & Staples Retailing						1,123,561
		Food Products – 2.4%
3,700		Campbell Soup Company						128,834
15,400		ConAgra Foods, Inc.						424,886
27,000		Dean Foods Company, (2)						441,450
4,900		General Mills, Inc.						195,265
7,600		H.J. Heinz Company						425,220
14,200		Hershey Foods Corporation						1,006,638
20,400		Kraft Foods Inc.						843,540
15,400		JM Smucker Company						1,329,482
1,200		Kellogg Company						61,992
11,300		McCormick & Company, Incorporated						701,052
3,700		Mead Johnson Nutrition Company, Class A Shares						271,136
		Total Food Products						5,829,495
		Gas Utilities – 1.1%
52,900		ONEOK, Inc.						2,555,599
		Health Care Equipment & Supplies – 0.9%
700		Baxter International, Inc.						42,182
1,100		Becton, Dickinson and Company						86,416
20,500		Boston Scientific Corporation, (2)						117,670
1,300		C. R. Bard, Inc.						136,045
1,300		Edwards Lifesciences Corporation, (2)						139,581
2,800		Intuitive Surgical, Inc., (2)						1,387,764
3,800		Medtronic, Inc.						163,856
2,100		Saint Jude Medical Inc.						88,473
1,500		Varian Medical Systems, Inc., (2)						90,480
		Total Health Care Equipment & Supplies						2,252,467
		Health Care Providers & Services – 1.4%
3,400		Aetna Inc.						134,640
18,100		Coventry Health Care, Inc.						754,589
2,700		Davita Inc., (2)						279,747
1,867		Express Scripts, Holding Company, (2)						117,005
2,800		Humana Inc.						196,420
1,600		Laboratory Corporation of America Holdings, (2)						147,952
7,900		McKesson HBOC Inc.						679,637
800		Quest Diagnostics Incorporated						50,744
16,900		UnitedHealth Group Incorporated						936,429
1,300		Wellpoint Inc.						75,413
		Total Health Care Providers & Services						3,372,576
		Health Care Technology – 0.4%
12,700		Cerner Corporation, (2)						983,107
		Hotels, Restaurants & Leisure – 3.7%
23,200		Marriott International, Inc., Class A						907,120
18,400		McDonald’s Corporation						1,688,200
44,600		Starbucks Corporation						2,263,450
50,900		Wyndham Worldwide Corporation						2,671,232
22,300		YUM! Brands, Inc.						1,479,382
		Total Hotels, Restaurants & Leisure						9,009,384
		Household Durables – 1.9%
71,900		D.R. Horton, Inc.						1,484,016
46,900		Lennar Corporation, Class A						1,630,713
48,100		Newell Rubbermaid Inc.						918,229
5,500		Whirlpool Corporation						456,005
		Total Household Durables						4,488,963
		Household Products – 0.8%
3,700		Clorox Company						266,585
6,700		Colgate-Palmolive Company						718,374
7,100		Kimberly-Clark Corporation						609,038
4,100		Procter & Gamble Company						284,376
		Total Household Products						1,878,373
		Independent Power Producers & Energy Traders – 0.0%
3,700		NRG Energy Inc., (2)						79,143
		Industrial Conglomerates – 0.3%
27,500		General Electric Company						624,525
		Insurance – 3.4%
1,400		Ace Limited						105,840
15,700		AFLAC Incorporated						751,716
36,900		Allstate Corporation						1,461,609
6,600		American International Group, (2)						216,414
17,300		AON PLC						904,617
7,100		Assurant Inc.						264,830
700		Berkshire Hathaway Inc., Class B, (2)						61,740
9,500		Chubb Corporation						724,660
45,300		Cincinnati Financial Corporation						1,716,417
5,600		Lincoln National Corporation						135,464
2,300		Principal Financial Group, Inc.						61,962
2,200		Progressive Corporation						45,628
14,850		Torchmark Corporation						762,548
15,000		Travelers Companies, Inc.						1,023,900
		Total Insurance						8,237,345
		Internet & Catalog Retail – 1.2%
24,300		Expedia, Inc.						1,405,512
5,000		NetFlix.com Inc., (2)						272,200
1,200		priceline.com Incorporated, (2)						742,476
11,200		TripAdvisor Inc., (2)						368,816
		Total Internet & Catalog Retail						2,789,004
		Internet Software & Services – 2.3%
9,500		Akamai Technologies, Inc., (2)						363,470
20,300		eBay Inc., (2)						982,723
5,100		Google Inc., Class A, (2)						3,847,950
3,400		VeriSign, Inc., (2)						165,546
6,000		Yahoo! Inc., (2)						95,850
		Total Internet Software & Services						5,455,539
		IT Services – 4.4%
10,500		Accenture Limited						735,315
3,800		Automatic Data Processing, Inc.						222,908
30,900		Cognizant Technology Solutions Corporation, Class A, (2)						2,160,528
71,300		Fidelity National Information Services						2,225,986
3,100		Fiserv, Inc., (2)						229,493
12,100		International Business Machines Corporation (IBM)						2,510,145
600		MasterCard, Inc.						270,888
7,800		Paychex, Inc.						259,662
7,200		SAIC, Inc.						86,688
4,400		Teradata Corporation, (2)						331,804
12,500		Total System Services Inc.						296,250
9,600		Visa Inc.						1,289,088
		Total IT Services						10,618,755
		Leisure Equipment & Products – 0.0%
1,500		Mattel, Inc.						53,220
		Life Sciences Tools & Services – 0.6%
800		Agilent Technologies, Inc.						30,760
1,500		Life Technologies Corporation, (2)						73,320
46,300		Perkinelmer Inc.						1,364,461
900		Thermo Fisher Scientific, Inc.						52,947
		Total Life Sciences Tools & Services						1,521,488
		Machinery – 2.8%
27,300		Caterpillar Inc.						2,348,892
3,300		Cummins Inc.						304,293
20,800		Eaton Corporation						983,008
3,100		Flowserve Corporation						395,994
3,700		Illinois Tool Works, Inc.						220,039
4,200		Ingersoll Rand Company Limited, Class A						188,244
20,900		Pall Corporation						1,326,941
12,087		Stanley Black & Decker Inc.						921,634
		Total Machinery						6,689,045
		Media – 5.7%
31,400		CBS Corporation, Class B						1,140,762
97,700		Comcast Corporation, Class A						3,494,729
31,100		DirecTV						1,631,506
2,900		Discovery Communications inc., Class A Shares, (2)						172,927
72,800		Gannett Company Inc.						1,292,200
3,000		McGraw-Hill Companies, Inc.						163,770
8,500		News Corporation, Class A						208,505
15,500		Scripps Networks Interactive, Class A Shares						949,065
5,600		Time Warner Cable, Class A						532,336
17,000		Time Warner Inc.						770,610
8,000		Viacom Inc., Class B						428,720
57,100		Walt Disney Company						2,985,188
		Total Media						13,770,318
		Metals & Mining – 0.3%
12,500		Nucor Corporation						478,250
7,000		United States Steel Corporation						133,490
		Total Metals & Mining						611,740
		Multiline Retail – 0.7%
1,800		Big Lots, Inc., (2)						53,244
4,300		Dollar Tree Stores Inc., (2)						207,583
2,300		Family Dollar Stores, Inc.						152,490
6,700		J.C. Penney Company, Inc., (2)						162,743
30,300		Macy’s, Inc.						1,139,886
		Total Multiline Retail						1,715,946
		Multi-Utilities – 3.6%
30,700		Ameren Corporation						1,002,969
2,800		CenterPoint Energy, Inc.						59,640
38,900		CMS Energy Corporation						916,095
22,100		Consolidated Edison, Inc.						1,323,569
15,800		Dominion Resources, Inc.						836,452
9,600		DTE Energy Company						575,424
1,200		Integrys Energy Group, Inc.						62,640
71,200		NiSource Inc.						1,814,176
1,900		PG&E Corporation						81,073
2,500		Public Service Enterprise Group Incorporated						80,450
4,700		Scana Corporation						226,869
12,900		Sempra Energy						831,921
3,800		TECO Energy, Inc.						67,412
22,800		Wisconsin Energy Corporation						858,876
		Total Multi-Utilities						8,737,566
		Oil, Gas & Consumable Fuels – 6.0%
10,800		Alpha Natural Resources Inc., (2)						70,956
7,700		Chevron Corporation						897,512
4,400		ConocoPhillips						251,592
3,600		Devon Energy Corporation						217,800
33,500		Exxon Mobil Corporation						3,063,575
39,612		Kinder Morgan, Inc.						1,407,018
27,900		Marathon Oil Corporation						825,003
4,850		Marathon Petroleum Corporation						264,762
2,800		Peabody Energy Corporation						62,412
5,050		Phillips 66						234,169
12,000		Pioneer Natural Resources Company						1,252,800
4,200		QEP Resources Inc.						132,972
1,000		Range Resources Corporation						69,870
46,400		Spectra Energy Corporation						1,362,304
35,100		Sunoco, Inc.						1,643,733
4,000		Tesoro Corporation, (2)						167,600
3,600		Valero Energy Corporation						114,048
71,300		Williams Companies, Inc.						2,493,361
		Total Oil, Gas, & Consumable Fuels						14,531,487
		Paper & Forest Products – 0.1%
9,700		International Paper Company						352,304
		Personal Products – 0.7%
28,100		Estee Lauder Companies Inc., Class A						1,730,117
		Pharmaceuticals – 2.0%
7,900		Abbott Laboratories						541,624
3,000		Allergan, Inc.						274,740
58,800		Bristol-Myers Squibb Company						1,984,500
17,400		Eli Lilly and Company						824,934
3,000		Hospira Inc., (2)						98,460
1,400		Johnson & Johnson						96,474
18,932		Merck & Company Inc.						853,833
5,900		Pfizer Inc.						146,615
700		Watson Pharmaceuticals Inc., (2)						59,612
		Total Pharmaceuticals						4,880,792
		Professional Services – 1.0%
9,900		Dun and Bradstreet Inc.						788,238
32,200		Equifax Inc.						1,499,876
7,900		Robert Half International Inc.						210,377
		Total Professional Services						2,498,491
		Real Estate Investment Trust – 2.1%
15,100		American Tower REIT Inc.						1,077,989
4,000		AvalonBay Communities, Inc.						543,960
4,200		Boston Properties, Inc.						464,562
2,200		Equity Residential						126,566
2,000		Health Care Property Investors Inc.						88,960
6,800		Public Storage, Inc.						946,356
8,800		Simon Property Group, Inc.						1,335,928
3,100		Ventas Inc.						192,975
12,500		Weyerhaeuser Company						326,750
		Total Real Estate Investment Trust						5,104,046
		Road & Rail – 0.2%
2,700		CSX Corporation						56,025
3,200		Union Pacific Corporation						379,840
		Total Road & Rail						435,865
		Semiconductors & Equipment – 1.3%
46,300		Intel Corporation						1,050,084
9,100		KLA-Tencor Corporation						434,116
11,000		Lam Research Corporation, (2)						349,635
109,700		LSI Logic Corporation, (2)						758,027
27,600		Micron Technology, Inc., (2)						165,186
6,000		Teradyne Inc., (2)						85,320
7,600		Texas Instruments Incorporated						209,380
		Total Semiconductors & Equipment						3,051,748
		Software – 1.5%
1,800		Adobe Systems Incorporated, (2)						58,428
2,500		BMC Software, Inc., (2)						103,725
66,000		CA Inc.						1,700,490
12,100		Intuit, Inc.						712,448
26,900		Microsoft Corporation						801,082
1,700		Oracle Corporation						53,533
5,200		Red Hat, Inc., (2)						296,088
		Total Software						3,725,794
		Specialty Retail – 10.7%
5,100		AutoZone, Inc., (2)						1,885,317
1,800		Bed Bath and Beyond Inc., (2)						113,400
61,800		Gap, Inc.						2,211,204
118,700		Home Depot, Inc.						7,165,919
9,600		Limited Brands, Inc.						472,896
73,200		Lowe’s Companies, Inc.						2,213,568
16,700		O’Reilly Automotive Inc., (2)						1,396,454
63,900		Ross Stores, Inc.						4,127,940
139,400		TJX Companies, Inc.						6,243,726
		Total Specialty Retail						25,830,424
		Textiles, Apparel & Luxury Goods – 0.5%
7,500		VF Corporation						1,195,200
		Thrifts & Mortgage Finance – 0.0%
14,400		Hudson City Bancorp, Inc.						114,624
		Tobacco – 3.1%
50,600		Altria Group, Inc.						1,689,534
7,200		Lorillard Inc.						838,440
26,600		Philip Morris International						2,392,404
61,500		Reynolds American Inc.						2,665,410
		Total Tobacco						7,585,788
		Trading Companies & Distributors – 3.5%
104,200		Fastenal Company						4,479,558
19,000		W.W. Grainger, Inc.						3,959,029
		Total Trading Companies & Distributors						8,438,587
		Wireless Telecommunication Services – 0.8%
30,000		Crown Castle International Corporation, (2)						1,922,999
15,000		Sprint Nextel Corporation, (2)						82,799
		Total Wireless Telecommunication Services						2,005,798
		Total Common Stocks (cost $190,859,766)						237,538,842

Principal
Amount (000)		Description (1)	Coupon		Maturity	Ratings(4)		Value
		Short-Term Investments – 3.8%
		U.S. Government and Agency Obligations – 1.1%
$ 2,500		U.S. Treasury Bills, (3)	0.000%		2/21/13		N/R	$ 2,498,883
		Repurchase Agreements – 2.7%
6,606		Repurchase Agreement with State Street Bank, dated 9/28/12, repurchase price $6,606,054, collateralized by $6,735,000 U.S. Treasury Notes, 0.250%, due 2/28/14, value $6,739,196	0.010%		10/01/12		N/A	6,606,048
$ 9,106		Total Short-Term Investments (cost $9,104,866)						9,104,931
		Total Investments (cost $199,964,632) – 101.8%						246,643,773
		Other Assets Less Liabilities – (1.8)% (5)						(4,453,119	)
		Net Assets – 100%						$ 242,190,654

Investments in Derivatives at September 30, 2012

Call Options Written Outstanding:

Number of			Notional		Expiration		Strike
Contracts		Type	Amount		Date		Price	Value (5)

		Call Options – (0.0)%

(404,355	)	Custom Basket 1 NASDAQ	$(40,435,496	)(6)	11/05/12		$ 104.00	$(64,656	)
(120	)	S&P 400 Midcap Index	(12,260,400	)(7)	10/20/12		1,021.70	(2,402	)
(120	)	S&P 400 Midcap Index	(12,432,840	)(7)	10/20/12		1,036.07	(1,009	)
(150	)	S&P 400 Midcap Index	(15,543,600	)(7)	10/20/12		1,036.24	(1,237	)
(404,745	)	Total Call Options Written (premiums received $347,762)	$(80,672,336	)				$(69,304	)

Future Contracts Outstanding:

Type				Contract Position				Number of Contracts			Contract Expiration		Value			Unrealized Appreciation (Depreciation)
S&P 500 Index				Long				60			12/12		$4,302,600			$(56,880					)

	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*:
	Common Stocks					$237,538,842						$ —			$ —				$237,538,842
	Short-Term Investments:
	U.S. Government and Agency Obligations					—						2,498,883			—				2,498,883
	Repurchase Agreements					—						6,606,048							6,606,048
	Derivatives:
	Call Options Written					(4,648				)		(64,656		)	—				(69,304	)
	Futures Contracts**					(56,880				)		—			—				(56,880	)
	Total					$237,477,314						$9,040,275			$ —				$246,517,589
	* Refer to the Fund’s Portfolio of Investments for industry classifications.
	** Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments.

	The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team. The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities. For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.

	Derivative Instruments and Hedging Activities

	The Fund records derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.

	The following table presents the fair value of all derivative instruments held by the Fund as of September 30, 2012, the location of these instruments on the Statement of Assets and Liablilities, and the primary underlying risk exposure.

					Location on the Statement of Assets and Liabilities
	Underlying		Derivative		Asset Derivatives				Liability Derivatives
	Risk Exposure		Instrument		Location		Value		Location									Value
	Equity Price		Futures contracts		—		$ —		Payable for variation margin on futures contracts*									$ (56,880		)
	Equity Price		Options		—		—		Call options written, at value									(69,304		)
	Total						$ —											$ (126,184		)
	* Value represents unrealized appreciation (depreciation) of futures contracts as reported in the Fund’s Portfolio of 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 timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on futures contracts. 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 September 30, 2012, the cost of investments (excluding investments in derivatives) was $200,161,543. Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) at September 30, 2012, were as follows:

	Gross unrealized:
	Appreciation																$ 48,303,502
	Depreciation																(1,821,272			)

	Net unrealized appreciation (depreciation) of investments																$ 46,482,230


		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.
	(2)	Non-income producing; issuer has not declared a dividend within the past twelve months.
	(3)	Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.
	(4)	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.
	(5)	Other Assets Less Liabilities includes Value and the Unrealized Appreciation (Depreciation) of derivative instruments as noted within Investments in Derivatives at September 30, 2012.
	(6)	For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by $100.
	(7)	For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by $100.
	N/R	Not rated.
	N/A	Not applicable.

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: 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 Core Equity Alpha Fund


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

Date: November 29, 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: November 29, 2012

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

Date: November 29, 2012