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 811-21213
 
Nuveen Insured Tax-Free Advantage Municipal Fund
(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:            10/31          
 
Date of reporting period:         1/31/10         
 
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 Insured Tax-Free Advantage Municipal Fund (NEA)      
  January 31, 2010      
Principal   Optional Call    
Amount (000) Description (1) Provisions (2) Ratings (3) Value
  Alabama – 7.2% (4.9% of Total Investments)      
$     1,000  Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series  11/16 at 100.00  AA  $    1,002,780 
  2006C-2, 5.000%, 11/15/36 (UB)       
5,655  Colbert County-Northwest Health Care Authority, Alabama, Revenue Bonds, Helen Keller Hospital,  6/13 at 101.00  Baa3  5,312,137 
  Series 2003, 5.750%, 6/01/27       
3,100  Huntsville Healthcare Authority, Alabama, Revenue Bonds, Series 1998A, 5.400%, 6/01/22  5/12 at 102.00  A (4)  3,448,595 
  (Pre-refunded 5/14/12) – MBIA Insured       
6,280  Jefferson County, Alabama, Sewer Revenue Capital Improvement Warrants, Series 2002D, 5.000%,  8/12 at 100.00  AAA  6,904,169 
  2/01/32 (Pre-refunded 8/01/12) – FGIC Insured       
1,750  Montgomery, Alabama, General Obligation Warrants, Series 2003, 5.000%, 5/01/21 – AMBAC Insured  5/12 at 101.00  AA  1,878,870 
4,500  Sheffield, Alabama, Electric Revenue Bonds, Series 2003, 5.500%, 7/01/29 – AMBAC Insured  7/13 at 100.00  A2  4,701,960 
22,285  Total Alabama      23,248,511 
  Arizona – 4.6% (3.1% of Total Investments)      
10,000  Maricopa County Pollution Control Corporation, Arizona, Revenue Bonds, Arizona Public Service  11/12 at 100.00  Baa2  9,311,500 
  Company – Palo Verde Project, Series 2002A, 5.050%, 5/01/29 – AMBAC Insured       
6,545  Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B, 0.000%,  No Opt. Call  AA  5,551,862 
  7/01/37 – FGIC Insured       
16,545  Total Arizona      14,863,362 
  California – 20.5% (13.9% of Total Investments)      
26,300  California State Public Works Board, Lease Revenue Bonds, Department of General Services,  12/12 at 100.00  BBB+  24,476,095 
  Capital East End Project, Series 2002A, 5.000%, 12/01/27 – AMBAC Insured       
250  California State, General Obligation Bonds, Series 2002, 5.250%, 4/01/30 – SYNCORA GTY Insured  4/12 at 100.00  Baa1  242,125 
5  California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 – AMBAC Insured  4/14 at 100.00  A–  4,613 
7,495  California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 (Pre-refunded  4/14 at 100.00  AAA  8,665,419 
  4/01/14) – AMBAC Insured       
2,910  Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Housing  8/12 at 102.00  A  2,796,161 
  Set-Aside, Series 2002D, 5.000%, 8/01/26 – NPFG Insured       
250  Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement  6/17 at 100.00  BBB  172,683 
  Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47       
8,000  Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed  6/15 at 100.00  BBB+  7,011,200 
  Revenue Bonds, Series 2005A, 5.000%, 6/01/35 – FGIC Insured       
2,500  Irvine Public Facilities and Infrastructure Authority, California, Assessment Revenue Bonds,  9/13 at 100.00  N/R  2,407,475 
  Series 2003C, 5.000%, 9/02/23 – AMBAC Insured       
4,000  Montara Sanitation District, California, General Obligation Bonds, Series 2003, 5.000%,  8/11 at 101.00  A+  4,029,360 
  8/01/28 – FGIC Insured       
  Plumas County, California, Certificates of Participation, Capital Improvement Program,       
  Series 2003A:       
1,130  5.250%, 6/01/19 – AMBAC Insured  6/13 at 101.00  A–  1,155,538 
1,255  5.250%, 6/01/21 – AMBAC Insured  6/13 at 101.00  A–  1,271,064 
1,210  Redding Joint Powers Financing Authority, California, Lease Revenue Bonds, Capital Improvement  3/13 at 100.00  A  1,232,809 
  Projects, Series 2003A, 5.000%, 3/01/23 – AMBAC Insured       
3,750  Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2003R,  8/13 at 100.00  A+  3,777,750 
  5.000%, 8/15/28 – NPFG Insured       
1,500  San Diego Community College District, California, General Obligation Bonds, Series 2003A,  5/13 at 100.00  AAA  1,525,095 
  5.000%, 5/01/28 – AGM Insured       
1,055  Turlock Irrigation District, California, Certificates of Participation, Series 2003A, 5.000%,  1/13 at 100.00  A  1,061,509 
  1/01/28 – NPFG Insured       
6,300  University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.000%,  5/13 at 100.00  AA  6,405,651 
  5/15/33 – AMBAC Insured (UB)       
67,910  Total California      66,234,547 
  Colorado – 4.8% (3.3% of Total Investments)      
  Bowles Metropolitan District, Colorado, General Obligation Bonds, Series 2003:       
4,300  5.500%, 12/01/23 – AGM Insured  12/13 at 100.00  AAA  4,508,593 
3,750  5.500%, 12/01/28 – AGM Insured  12/13 at 100.00  AAA  3,877,950 
1,450  Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds,  8/14 at 100.00  A  1,463,369 
  Peak-to-Peak Charter School, Series 2004, 5.250%, 8/15/24 – SYNCORA GTY Insured       
4,500  Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,  4/18 at 100.00  AAA  4,382,955 
  Series 2006C-1, Trust 1090, 15.198%, 10/01/41 – AGM Insured (IF)       
3,000  E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%,  No Opt. Call  A  775,500 
  9/01/30 – NPFG Insured       
2,900  E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/34 –  No Opt. Call  A  553,146 
  NPFG Insured       
19,900  Total Colorado      15,561,513 
  District of Columbia – 0.6% (0.4% of Total Investments)      
7,000  Metropolitan Washington DC Airports Authority, Virginia, Dulles Toll Raod Revenue Bonds,  No Opt. Call  AAA  1,284,220 
  Series 2009B, 0.000%, 10/01/36 – AGC Insured       
665  Washington Convention Center Authority, District of Columbia, Senior Lien Dedicated Tax  10/16 at 100.00  AA+  628,033 
  Revenue Bonds, Series 2007, Residuals 1606, 11.602%, 10/01/30 – AMBAC Insured (IF)       
7,665  Total District of Columbia      1,912,253 
  Florida – 23.5% (15.9% of Total Investments)      
1,000  Bay County, Florida, Water System Revenue Bonds, Series 2005, 5.000%, 9/01/25 – AMBAC Insured  9/15 at 100.00  A3  1,029,400 
  Clay County, Florida, Uiltity System Revenue Bonds, Series 2007:       
1,500  5.000%, 11/01/27 – SYNCORA GTY Insured (UB)  11/17 at 100.00  AAA  1,571,550 
3,000  5.000%, 11/01/32 – SYNCORA GTY Insured (UB)  11/17 at 100.00  AAA  3,063,960 
400  Collier County, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.000%, 10/01/23 –  10/14 at 100.00  AA  417,788 
  NPFG Insured       
1,000  Escambia County, Florida, Sales Tax Revenue Refunding Bonds, Series 2002, 5.250%, 10/01/17 –  10/12 at 101.00  A+  1,107,310 
  AMBAC Insured       
1,525  Fernandina Beach, Florida, Utility Acquisition and Improvement Revenue Bonds, Series 2003,  9/13 at 100.00  A  1,563,308 
  5.000%, 9/01/23 – FGIC Insured       
500  Flagler County, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.000%, 10/01/30 –  10/15 at 100.00  A  505,870 
  NPFG Insured       
215  Florida Housing Finance Agency, GNMA Collateralized Home Ownership Revenue Refunding Bonds,  No Opt. Call  AAA  233,871 
  Series 1987G-1, 8.595%, 11/01/17       
2,500  Florida State Board of Education, Public Education Capital Outlay Bonds, Series 2008, Trust  6/18 at 101.00  AAA  2,939,350 
  2929, 17.147%, 6/01/38 – AGC Insured (IF)       
2,240  FSU Financial Assistance Inc., Florida, General Revenue Bonds, Educational and Athletic  No Opt. Call  A1  2,489,290 
  Facilities Improvements, Series 2004, 5.000%, 10/01/14 – AMBAC Insured       
2,000  Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2002A,  10/12 at 100.00  AAA  2,019,380 
  5.125%, 10/01/32 – AGM Insured       
105  Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Refunding Bonds,  10/13 at 100.00  AAA  111,580 
  Series 2003A, 5.000%, 10/01/17 – AGM Insured       
350  Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.500%, 6/01/38 –  6/18 at 100.00  AAA  350,669 
  AGM Insured       
1,300  Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist  11/15 at 100.00  A1  1,256,034 
  Health System, Series 2005D, 5.000%, 11/15/35 – NPFG Insured       
180  Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist  11/15 at 100.00  A1 (4)  209,488 
  Health System, Series 2005D, 5.000%, 11/15/35 (Pre-refunded 11/15/15) – MBIA Insured       
3,500  Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist  11/13 at 100.00  N/R (4)  4,040,925 
  Health System/Sunbelt Obligated Group, Series 2003D, 5.875%, 11/15/29 (Pre-refunded 11/15/13)       
1,500  Hillsborough County School Board, Florida, Certificates of Participation, Series 2003, 5.000%,  7/13 at 100.00  AA–  1,509,780 
  7/01/29 – NPFG Insured       
2,270  Jacksonville, Florida, Local Government Sales Tax Revenue Refunding and Improvement Bonds,  10/12 at 100.00  AA+  2,463,676 
  Series 2002, 5.375%, 10/01/18 – FGIC Insured       
2,265  Lakeland, Florida, Utility Tax Revenue Bonds, Series 2003B, 5.000%, 10/01/20 – AMBAC Insured  10/12 at 100.00  N/R  2,278,907 
1,730  Lee County, Florida, Transportation Facilities Revenue Bonds, Series 2004B, 5.000%, 10/01/22 –  10/14 at 100.00  A–  1,761,590 
  AMBAC Insured       
500  Lee Memorial Health System, Florida, Hospital Revenue Bonds, Series 2007A, 5.000%, 4/01/32 –  4/17 at 100.00  A  474,910 
  NPFG Insured       
3,000  Marco Island, Florida, Water Utility System Revenue Bonds, Series 2003, 5.000%, 10/01/27 –  10/13 at 100.00  A  3,043,980 
  NPFG Insured       
2,000  Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 1999A, 5.000%,  4/10 at 101.00  A+  2,020,300 
  10/01/29 – FGIC Insured       
500  Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2008B, 5.250%,  No Opt. Call  AAA  553,330 
  10/01/22 – AGM Insured       
500  North Port, Florida, Utility System Revenue Bonds, Series 2000, 5.000%, 10/01/25 (Pre-refunded  10/10 at 101.00  Aa3 (4)  521,020 
  10/01/10) – AGM Insured       
2,000  Orange County, Florida, Sales Tax Revenue Bonds, Series 2002A, 5.125%, 1/01/17 – FGIC Insured  1/13 at 100.00  AA  2,155,820 
1,500  Orange County, Florida, Sales Tax Revenue Bonds, Series 2002B, 5.125%, 1/01/32 – FGIC Insured  1/13 at 100.00  AA  1,510,245 
3,370  Osceola County School Board, Florida, Certificates of Participation, Series 2002A, 5.125%,  6/12 at 101.00  A2 (4)  3,722,435 
  6/01/20 (Pre-refunded 6/01/12) – AMBAC Insured       
3,335  Palm Bay, Florida, Local Optional Gas Tax Revenue Bonds, Series 2004, 5.250%, 10/01/20 –  10/14 at 100.00  AA–  3,596,297 
  NPFG Insured       
1,095  Palm Bay, Florida, Utility System Revenue Bonds, Series 2004, 5.250%, 10/01/20 – NPFG Insured  10/14 at 100.00  A  1,180,793 
2,670  Palm Beach County School Board, Florida, Certificates of Participation, Series 2002D, 5.000%,  8/12 at 100.00  AAA  2,696,246 
  8/01/28 – AGM Insured       
1,950  Palm Beach County School Board, Florida, Certificates of Participation, Series 2002D, 5.250%,  8/12 at 100.00  AAA  2,160,971 
  8/01/20 (Pre-refunded 8/01/12) – AGM Insured       
  Pinellas County Health Facilities Authority, Florida, Revenue Bonds, Baycare Health System,       
  Series 2003:       
2,800  5.750%, 11/15/27 (Pre-refunded 5/15/13)  5/13 at 100.00  Aa3 (4)  3,220,084 
3,000  5.500%, 11/15/27 (Pre-refunded 5/15/13)  5/13 at 100.00  Aa3 (4)  3,425,880 
1,000  Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B,  7/17 at 100.00  A  902,900 
  Series 2007, 5.000%, 7/01/33 – NPFG Insured       
2,115  Port St. Lucie, Florida, Sales Tax Revenue Bonds, Series 2003, 5.000%, 9/01/23 – NPFG Insured  9/13 at 100.00  A+  2,160,853 
1,500  Port St. Lucie, Florida, Stormwater Utility System Revenue Refunding Bonds, Series 2002,  5/12 at 100.00  A  1,528,545 
  5.000%, 5/01/23 – NPFG Insured       
225  Port St. Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009, 5.250%,  9/18 at 100.00  AAA  232,369 
  9/01/35 – AGC Insured       
1,500  South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health  2/13 at 100.00  Aaa  1,686,600 
  Systems of South Florida, Series 2003, 5.200%, 11/15/28 (Pre-refunded 2/01/13)       
1,730  St. John’s County, Florida, Sales Tax Revenue Bonds, Series 2004A, 5.000%, 10/01/24 –  10/14 at 100.00  A+  1,786,571 
  AMBAC Insured       
4,000  St. Lucie County School Board, Florida, Certificates of Participation, Master Lease Program,  7/14 at 100.00  AAA  4,088,920 
  Series 2004A, 5.000%, 7/01/24 – AGM Insured       
1,200  Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39  10/19 at 100.00  AAA  1,204,488 
1,250  Volusia County Educational Facilities Authority, Florida, Revenue Refunding Bonds,  10/13 at 100.00  Baa3  1,121,338 
  Embry-Riddle Aeronautical University, Series 2003, 5.200%, 10/15/33 – RAAI Insured       
71,820  Total Florida      75,918,621 
  Georgia – 2.0% (1.4% of Total Investments)      
3,000  Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2009B, 5.375%, 11/01/39 –  11/19 at 100.00  AAA  3,081,120 
  AGM Insured       
1,410  DeKalb County, Georgia, Water and Sewer Revenue Bonds, Series 2006A, 5.000%, 10/01/35 –  10/16 at 100.00  AAA  1,470,376 
  AGM Insured       
1,825  Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Second  1/13 at 100.00  AA+ (4)  2,040,587 
  Indenture Series 2002, 5.000%, 7/01/32 (Pre-refunded 1/01/13) – MBIA Insured       
6,235  Total Georgia      6,592,083 
  Illinois – 2.8% (1.9% of Total Investments)      
  Cook County School District 145, Arbor Park, Illinois, General Obligation Bonds, Series 2004:       
1,635  5.125%, 12/01/20 – AGM Insured  12/14 at 100.00  Aa3  1,732,528 
1,465  5.125%, 12/01/23 – AGM Insured  12/14 at 100.00  Aa3  1,535,598 
  Cook County School District 145, Arbor Park, Illinois, General Obligation Bonds, Series 2004:       
1,650  5.125%, 12/01/20 – AGM Insured (ETM)  12/14 at 100.00  Aa3 (4)  1,783,733 
1,475  5.125%, 12/01/23 – AGM Insured (ETM)  12/14 at 100.00  Aa3 (4)  1,578,530 
2,500  Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2003,  7/13 at 100.00  A–  2,497,500 
  5.250%, 7/01/23       
8,725  Total Illinois      9,127,889 
  Indiana – 7.3% (4.9% of Total Investments)      
2,500  Evansville, Indiana, Sewerage Works Revenue Refunding Bonds, Series 2003A, 5.000%, 7/01/23 –  7/13 at 100.00  A3  2,528,875 
  AMBAC Insured       
2,190  Indiana Bond Bank, Advance Purchase Funding Bonds, Common School Fund, Series 2003B, 5.000%,  8/13 at 100.00  A  2,220,813 
  8/01/19 – NPFG Insured       
1,860  Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 –  1/17 at 100.00  A+  1,816,439 
  NPFG Insured       
1,000  Indiana University, Student Fee Revenue Bonds, Series 2003O, 5.000%, 8/01/22 – FGIC Insured  8/13 at 100.00  Aa1  1,066,180 
  IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Series 2003:       
11,020  5.000%, 7/15/19 (Pre-refunded 7/15/13) – MBIA Insured  7/13 at 100.00  AA (4)  12,485,219 
3,000  5.000%, 7/15/20 (Pre-refunded 7/15/13) – MBIA Insured  7/13 at 100.00  AA (4)  3,398,880 
21,570  Total Indiana      23,516,406 
  Kansas – 1.6% (1.1% of Total Investments)      
5,000  Kansas Development Finance Authority, Board of Regents, Revenue Bonds, Scientific Research and  4/13 at 102.00  AA  5,257,300 
  Development Facilities Projects, Series 2003C, 5.000%, 10/01/22 – AMBAC Insured       
  Kentucky – 0.4% (0.2% of Total Investments)      
985  Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 77, Series  8/13 at 100.00  Aa3 (4)  1,119,699 
  2003, 5.000%, 8/01/23 (Pre-refunded 8/01/13) – MBIA Insured       
  Louisiana – 1.8% (1.2% of Total Investments)      
5,785  New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2002, 5.300%, 12/01/27 –  12/12 at 100.00  Baa3  5,804,206 
  FGIC Insured       
  Massachusetts – 0.4% (0.2% of Total Investments)      
1,125  Massachusetts Development Finance Authority, Revenue Bonds, Middlesex School, Series 2003,  9/13 at 100.00  A1  1,161,945 
  5.125%, 9/01/23       
  Michigan – 9.8% (6.6% of Total Investments)      
6,130  Detroit, Michigan, Senior Lien Water Supply System Revenue Bonds, Series 2003A, 5.000%,  7/13 at 100.00  A+ (4)  6,914,211 
  7/01/23 (Pre-refunded 7/01/13) – NPFG Insured       
4,465  Detroit, Michigan, Senior Lien Water Supply System Revenue Refunding Bonds, Series 2003C,  7/13 at 100.00  A+  4,505,319 
  5.000%, 7/01/22 – NPFG Insured       
1,000  Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series  12/16 at 100.00  AA  980,400 
  2006A, 5.000%, 12/01/31 (UB)       
10,800  Michigan Strategic Fund, Limited Obligation Resource Recovery Revenue Refunding Bonds, Detroit  12/12 at 100.00  Baa1  10,799,352 
  Edison Company, Series 2002D, 5.250%, 12/15/32 – SYNCORA GTY Insured       
2,250  Romulus Community Schools, Wayne County, Michigan, General Obligation Refunding Bonds, Series  5/11 at 100.00  AA–  2,307,893 
  2001, 5.250%, 5/01/25       
6,500  Wayne County, Michigan, Limited Tax General Obligation Airport Hotel Revenue Bonds, Detroit  12/11 at 101.00  A  5,956,145 
  Metropolitan Wayne County Airport, Series 2001A, 5.000%, 12/01/30 – NPFG Insured       
31,145  Total Michigan      31,463,320 
  Missouri – 1.0% (0.7% of Total Investments)      
240  Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series  3/14 at 100.00  AAA  259,954 
  2004, 5.250%, 3/01/24 – AGM Insured       
215  Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series  3/14 at 100.00  AAA  233,737 
  2004, 5.250%, 3/01/23 – AGM Insured       
  Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds,       
  Series 2004:       
1,110  5.250%, 3/01/23 (Pre-refunded 3/01/14) – AGM Insured  3/14 at 100.00  AAA  1,285,091 
1,260  5.250%, 3/01/24 (Pre-refunded 3/01/14) – AGM Insured  3/14 at 100.00  AAA  1,458,752 
2,825  Total Missouri      3,237,534 
  Nebraska – 1.6% (1.1% of Total Investments)      
5,000  Lincoln, Nebraska, Sanitary Sewerage System Revenue Refunding Bonds, Series 2003, 5.000%,  6/13 at 100.00  AA+  5,187,850 
  6/15/28 – NPFG Insured       
  New Mexico – 0.7% (0.5% of Total Investments)      
1,975  New Mexico State University, Revenue Bonds, Series 2004, 5.000%, 4/01/19 – AMBAC Insured  4/14 at 100.00  AA  2,137,128 
  New York – 10.1% (6.9% of Total Investments)      
2,020  Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%,  2/17 at 100.00  A  1,841,533 
  2/15/47 – NPFG Insured       
25,000  Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,  11/12 at 100.00  A  25,238,250 
  Series 2002F, 5.000%, 11/15/31 – NPFG Insured       
1,850  New York State Urban Development Corporation, Service Contract Revenue Bonds, Series 2005B,  3/15 at 100.00  AAA  1,952,287 
  5.000%, 3/15/25 – AGM Insured (UB)       
3,335  New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Tender  3/17 at 100.00  AAA  3,618,242 
  Option Bond Trust 09-6W, 13.244%, 3/15/37 (IF)       
32,205  Total New York      32,650,312 
  North Carolina – 2.0% (1.4% of Total Investments)      
8,700  North Carolina Medical Care Commission, Revenue Bonds, Maria Parham Medical Center, Series  10/13 at 100.00  BB  6,595,382 
  2003, 5.375%, 10/01/33 – RAAI Insured       
  Ohio – 0.8% (0.5% of Total Investments)      
  Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue       
  Bonds, Senior Lien, Series 2007A-2:       
65  5.125%, 6/01/24  6/17 at 100.00  BBB  60,403 
710  5.875%, 6/01/30  6/17 at 100.00  BBB  612,964 
685  5.750%, 6/01/34  6/17 at 100.00  BBB  569,598 
1,570  5.875%, 6/01/47  6/17 at 100.00  BBB  1,204,598 
3,030  Total Ohio      2,447,563 
  Oklahoma – 0.3% (0.2% of Total Investments)      
1,000  Oklahoma Capitol Improvement Authority, State Facilities Revenue Bonds, Series 2005F, 5.000%,  7/15 at 100.00  AA  1,034,480 
  7/01/24 – AMBAC Insured       
  Oregon – 2.5% (1.7% of Total Investments)      
8,350  Oregon Health Sciences University, Revenue Bonds, Series 2002A, 5.000%, 7/01/32 – NPFG Insured  1/13 at 100.00  A  8,033,868 
  Pennsylvania – 7.3% (5.0% of Total Investments)      
3,000  Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, St. Luke’s  8/13 at 100.00  AAA  3,448,800 
  Hospital of Bethlehem, Series 2003, 5.375%, 8/15/33 (Pre-refunded 8/15/13)       
3,500  Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%,  6/26 at 100.00  AAA  2,549,260 
  6/01/33 – AGM Insured       
2,000  Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998,  8/13 at 100.00  AAA  2,009,560 
  5.000%, 8/01/32 – AGM Insured       
925  Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 1997A, 5.125%,  4/10 at 100.00  AAA  953,452 
  8/01/27 – AMBAC Insured (ETM)       
13,000  State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School  6/13 at 100.00  AAA  14,742,260 
  District, Series 2003, 5.000%, 6/01/33 (Pre-refunded 6/01/13) – AGM Insured       
22,425  Total Pennsylvania      23,703,332 
  Puerto Rico – 0.8% (0.5% of Total Investments)      
1,000  Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2002II, 5.125%, 7/01/26  7/12 at 101.00  AAA  1,116,570 
  (Pre-refunded 7/01/12) – AGM Insured       
10,000  Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,  No Opt. Call  AA–  1,319,900 
  8/01/43 – NPFG Insured       
11,000  Total Puerto Rico      2,436,470 
  South Carolina – 5.6% (3.8% of Total Investments)      
5,000  Florence County, South Carolina, Hospital Revenue Bonds, McLeod Regional Medical Center,  11/14 at 100.00  AAA  5,178,050 
  Series 2004A, 5.250%, 11/01/23 – AGM Insured       
  Greenville County School District, South Carolina, Installment Purchase Revenue Bonds,       
  Series 2003:       
3,000  5.000%, 12/01/22 (UB)  12/13 at 100.00  AA  3,115,470 
1,785  5.000%, 12/01/23 (UB)  12/13 at 100.00  AA  1,848,546 
8,000  South Carolina Transportation Infrastructure Bank, Revenue Bonds, Series 2002A, 5.000%,  10/12 at 100.00  A1  8,013,280 
  10/01/33 – AMBAC Insured       
17,785  Total South Carolina      18,155,346 
  Texas – 10.1% (6.8% of Total Investments)      
7,975  Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds,  8/10 at 100.00  AAA  8,130,194 
  Series 2000, 5.000%, 8/15/25       
  Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds,       
  Series 2003:       
1,660  5.375%, 2/15/26 (Pre-refunded 2/15/13) – AGM Insured  2/13 at 100.00  AAA  1,877,228 
12,500  5.125%, 2/15/31 (Pre-refunded 2/15/13) – AGM Insured  2/13 at 100.00  AAA  14,042,250 
2,000  Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%,  5/14 at 100.00  AA  2,098,920 
  5/15/25 – NPFG Insured       
1,160  Houston, Texas, General Obligation Refunding Bonds, Series 2002, 5.250%, 3/01/20 – NPFG Insured  3/12 at 100.00  AA  1,240,307 
4,355  Houston, Texas, General Obligation Refunding Bonds, Series 2002, 5.250%, 3/01/20 (Pre-refunded  3/12 at 100.00  AA (4)  4,754,223 
  3/01/12) – NPFG Insured       
465  Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General  2/12 at 100.00  AAA  496,982 
  Obligation Bonds, Series 2002A, 5.125%, 2/15/18       
30,115  Total Texas      32,640,104 
  Virginia – 0.5% (0.3% of Total Investments)      
1,500  Hampton, Virginia, Revenue Bonds, Convention Center Project, Series 2002, 5.125%, 1/15/28 –  1/13 at 100.00  A1  1,527,764 
  AMBAC Insured       
  Washington – 9.4% (6.4% of Total Investments)      
4,945  Broadway Office Properties, King County, Washington, Lease Revenue Bonds, Washington Project,  12/12 at 100.00  AAA  5,009,928 
  Series 2002, 5.000%, 12/01/31 – NPFG Insured       
5,250  Chelan County Public Utility District 1, Washington, Hydro Consolidated System Revenue Bonds,  7/12 at 100.00  AA  5,312,318 
  Series 2002C, 5.125%, 7/01/33 – AMBAC Insured       
5,000  King County, Washington, Sewer Revenue Bonds, Series 2006-2, 13.531%, 1/01/31 –  1/17 at 100.00  AAA  5,645,200 
  AGM Insured (IF)       
2,135  Kitsap County Consolidated Housing Authority, Washington, Revenue Bonds, Bremerton Government  7/13 at 100.00  A1  2,186,454 
  Center, Series 2003, 5.000%, 7/01/23 – NPFG Insured       
1,935  Pierce County School District 343, Dieringer, Washington, General Obligation Refunding Bonds,  6/13 at 100.00  Aa1  2,153,133 
  Series 2003, 5.250%, 12/01/17 – FGIC Insured       
9,670  Washington State, General Obligation Bonds, Series 2003D, 5.000%, 12/01/21 – NPFG Insured  6/13 at 100.00  AA+  10,137,544 
28,935  Total Washington      30,444,577 
  West Virginia – 1.0% (0.7% of Total Investments)      
3,000  West Virginia State Building Commission, Lease Revenue Refunding Bonds, Regional Jail and  No Opt. Call  N/R  3,301,380 
  Corrections Facility, Series 1998A, 5.375%, 7/01/21 – AMBAC Insured       
  Wisconsin – 5.5% (3.7% of Total Investments)      
1,190  Sun Prairie Area School District, Dane County, Wisconsin, General Obligation Bonds, Series  3/14 at 100.00  Aa3  1,328,540 
  2004C, 5.250%, 3/01/24 – AGM Insured       
4,605  Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of  9/13 at 100.00  BBB+ (4)  5,348,016 
  Christian Charity Healthcare Ministry, Series 2003A, 5.875%, 9/01/33 (Pre-refunded 9/01/13)       
3,000  Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital Inc.,  No Opt. Call  A1  3,269,580 
  Series 1992A, 6.000%, 12/01/22 – FGIC Insured       
3,600  Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan  8/13 at 100.00  BBB+  3,135,960 
  Services Inc., Series 2003A, 5.125%, 8/15/33       
4,750  Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds, Wausau  2/10 at 101.00  A  4,761,115 
  Hospital Inc., Series 1998A, 5.125%, 8/15/20 – AMBAC Insured       
17,145  Total Wisconsin      17,843,211 
$    481,685  Total Long-Term Investments (cost $459,721,803) – 146.5%      473,157,956 
  Short-Term Investments – 1.2% (0.8% of Total Investments)      
  California – 1.2% (0.8% of Total Investments)      
$        3,790  Westminster Redevelopment Agency, Orange County, California, Westminster Commercial  11/19 at 100.00  A-1  3,790,000 
  Redevelopment Project 1, Tax Allocation Bonds, Variable Rate Demand Obligations,       
  Tender Option Bond Trust 3009, 0.200%, 11/01/45 – AGC Insured (5)       
  Total Short-Term Investments (cost $3,790,000)      3,790,000 
  Total Investments (cost $463,511,803) – 147.7%      476,947,956 
  Floating Rate Obligations – (4.0)%      (13,040,000)
  Other Assets Less Liabilities – 28.1%      90,673,804 
  Auction Rate Preferred Shares, at Liquidation Value – (71.8)% (6)      (231,750,000)
  Net Assets Applicable to Common Shares – 100%      $  322,831,760 

 
 
 
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 methodology 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 January 31, 2010:
 
  Level 1 Level 2 Level 3 Total
Investments:         
Municipal Bonds  $ —  $473,157,956  $ —  $473,157,956 
Short-Term Investments  —  3,790,000  —  3,790,000 
Total  $ —  $476,947,956  $ —  $476,947,956 

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 January 31, 2010, the cost of investments was $452,711,404.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2010, were as follows:
 
Gross unrealized:   
  Appreciation  $ 22,606,462 
  Depreciation  (11,407,567) 
Net unrealized appreciation (depreciation) of investments  $ 11,198,895 

  At least 80% of the Fund’s net assets are invested in municipal securities that guarantee the timely 
  payment of principal and interest. 
(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 higher of Standard & Poor's Group ("Standard & Poor's") or Moody's Investor Service, 
  Inc. ("Moody's") rating. Ratings below BBB by Standard & Poor's or Baa by Moody's are considered to be 
  below investment grade. 
  The Portfolio of Investments may reflect the ratings on certain bonds whose insurer has experienced 
  downgrades as of the end of the reporting period. Subsequent to the reporting period, and during the 
  period this Portfolio of Investments was prepared, there may have been reductions to the ratings of certain 
  bonds resulting from changes to the ratings of the underlying insurers both during the period and after 
  period end. Such reductions would likely reduce the effective rating of many of the bonds insured by that 
  insurer or insurers presented at period end. 
(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)  Investment has a maturity of more than one year, but has variable rate and demand features which 
  qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting 
  period. This rate changes periodically based on market conditions or a specified market index. 
(6)  Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments is 48.6%. 
N/R  Not rated. 
(ETM)  Escrowed to maturity. 
(IF)  Inverse floating rate investment. 
(UB)  Underlying bond of an inverse floating rate trust reflected as a financing transaction. 

 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen Insured Tax-Free Advantage Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         April 1, 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         April 1, 2010        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date        April 1, 2010