Edgar Filing: Nuveen Core Equity Alpha Fund

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)

Gifford R. Zimmerman—Vice President and Secretary

333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

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

Date of fiscal year end: December 31

Date of reporting period: September 30, 2016

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

JCE


Nuveen Core Equity Alpha Fund
Portfolio of Investments		September 30, 2016 (Unaudited)


Shares		Description (1)	Value

		LONG-TERM INVESTMENTS – 98.4%

		COMMON STOCKS – 98.4%

		Aerospace & Defense – 4.2%

	3,800	L-3 Communications Holdings, Inc.	$	572,774
	19,100	Lockheed Martin Corporation, (2)		4,578,652
	7,000	Northrop Grumman Corporation		1,497,650
	18,300	Raytheon Company		2,491,179
	6,500	Rockwell Collins, Inc.		548,210
	800	TransDigm Group Inc., (3)		231,296
		Total Aerospace & Defense		9,919,761

		Air Freight & Logistics – 0.3%

	6,400	C.H. Robinson Worldwide, Inc.		450,944
	4,100	Expeditors International of Washington, Inc.		211,232
		Total Air Freight & Logistics		662,176

		Airlines – 1.7%

	99,300	Southwest Airlines Co., (2)		3,861,777

		Auto Components – 0.3%

	15,065	Johnson Controls International PLC		700,974

		Banks – 0.2%

	3,100	Comerica Incorporated		146,692
	15,200	People’s United Financial, Inc., (2)		240,464
		Total Banks		387,156

		Beverages – 2.1%

	22,300	Constellation Brands, Inc., Class A		3,712,727
	13,800	Dr. Pepper Snapple Group, (2)		1,260,078
		Total Beverages		4,972,805

		Building Products – 0.2%

	1,300	Allegion PLC		89,583
	4,000	Fortune Brands Home & Security		232,400
	4,500	Masco Corporation		154,395
		Total Building Products		476,378

		Capital Markets – 0.7%

	12,700	CME Group, Inc., (2)		1,327,404
	3,400	NASDAQ Stock Market, Inc.		229,636
		Total Capital Markets		1,557,040

		Chemicals – 2.2%

	15,300	Albemarle Corporation		1,307,997
	6,500	Eastman Chemical Company		439,920
	17,700	FMC Corporation		855,618
	1,700	International Flavors & Fragrances Inc.		243,049
	14,700	LyondellBasell Industries NV		1,185,702
	7,300	PPG Industries, Inc.		754,528
	1,200	Sherwin-Williams Company		331,992
		Total Chemicals		5,118,806


NUVEEN			1


JCE	Nuveen Core Equity Alpha Fund
	Portfolio of Investments (continued)	September 30, 2016 (Unaudited)


Shares		Description (1)	Value

		Commercial Services & Supplies – 1.3%

	9,500	Cintas Corporation	$	1,069,700
	25,900	Republic Services, Inc.		1,306,655
	10,200	Waste Management, Inc.		650,352
		Total Commercial Services & Supplies		3,026,707

		Communications Equipment – 0.3%

	8,400	Harris Corporation		769,524

		Construction & Engineering – 1.2%

	19,800	Fluor Corporation		1,016,136
	23,200	Jacobs Engineering Group, Inc., (3)		1,199,904
	21,900	Quanta Services Incorporated, (3)		612,981
		Total Construction & Engineering		2,829,021

		Construction Materials – 1.6%

	8,500	Martin Marietta Materials		1,522,435
	18,400	Vulcan Materials Company		2,092,632
		Total Construction Materials		3,615,067

		Consumer Finance – 0.1%

	12,100	Navient Corporation		175,087

		Containers & Packaging – 1.5%

	15,200	Avery Dennison Corporation		1,182,408
	6,300	Ball Corporation		516,285
	30,400	International Paper Company		1,458,592
	9,100	WestRock Company		441,168
		Total Containers & Packaging		3,598,453

		Distributors – 0.3%

	7,000	Genuine Parts Company		703,150
	2,800	LKQ Corporation, (3)		99,288
		Total Distributors		802,438

		Electric Utilities – 3.7%

	8,000	Alliant Energy Corporation		306,480
	9,500	American Electric Power Company, Inc.		609,995
	7,700	Edison International		556,325
	10,000	Entergy Corporation		767,300
	9,600	Eversource Energy		520,128
	22,800	Exelon Corporation		759,012
	6,400	NextEra Energy Inc.		782,848
	7,000	PG&E Corporation		428,190
	7,200	Pinnacle West Capital Corporation		547,128
	48,100	PPL Corporation		1,662,817
	20,500	Southern Company		1,051,650
	18,100	Xcel Energy, Inc.		744,634
		Total Electric Utilities		8,736,507

		Electrical Equipment – 1.5%

	13,100	Eaton PLC		860,801
	15,200	Emerson Electric Company		828,552
	14,300	Rockwell Automation, Inc.		1,749,462
		Total Electrical Equipment		3,438,815

		Electronic Equipment, Instruments & Components – 0.4%

	8,200	Amphenol Corporation, Class A		532,344
	19,800	Corning Incorporated		468,270
		Total Electronic Equipment, Instruments & Components		1,000,614


	2			NUVEEN


Shares		Description (1)	Value

		Energy Equipment & Services – 1.2%

	40,400	Halliburton Company	$	1,813,152
	14,500	Helmerich & Payne Inc.		975,850
		Total Energy Equipment & Services		2,789,002

		Equity Real Estate Investment Trusts – 7.7%

	2,000	American Tower Corporation		226,660
	400	Boston Properties, Inc.		54,516
	500	Crown Castle International Corporation		47,105
	12,700	Digital Realty Trust Inc.		1,233,424
	5,543	Equinix Inc.		1,996,866
	1,700	Essex Property Trust Inc.		378,590
	8,300	Extra Space Storage Inc.		659,103
	6,000	Federal Realty Investment Trust		923,580
	42,800	Iron Mountain Inc.		1,606,284
	51,900	Kimco Realty Corporation		1,502,505
	30,300	Prologis Inc.		1,622,262
	16,100	Public Storage, Inc.		3,592,554
	23,600	Realty Income Corporation		1,579,548
	1,700	Simon Property Group, Inc.		351,917
	800	SL Green Realty Corporation		86,480
	28,800	Ventas Inc.		2,034,144
		Total Equity Real Estate Investment Trusts		17,895,538

		Food & Staples Retailing – 0.3%

	16,300	Sysco Corporation		798,863

		Food Products – 3.1%

	14,500	Archer-Daniels-Midland Company		611,465
	26,600	Campbell Soup Company, (2)		1,455,020
	34,800	ConAgra Foods, Inc.		1,639,428
	1,900	General Mills, Inc.		121,372
	10,300	Kellogg Company		797,941
	2,600	McCormick & Company, Incorporated		259,792
	30,300	Tyson Foods, Inc., Class A		2,262,501
		Total Food Products		7,147,519

		Health Care Equipment & Supplies – 3.1%

	16,700	Baxter International, Inc.		794,920
	2,200	Becton, Dickinson and Company		395,406
	22,400	Boston Scientific Corporation, (3)		533,120
	3,200	C. R. Bard, Inc.		717,696
	10,600	DENTSPLY SIRONA Inc.		629,958
	12,200	Edwards Lifesciences Corporation, (3)		1,470,832
	900	Intuitive Surgical, Inc., (3)		652,347
	7,600	Stryker Corporation		884,716
	2,100	Varian Medical Systems, Inc., (3)		209,013
	7,600	Zimmer Biomet Holdings, Inc.		988,152
		Total Health Care Equipment & Supplies		7,276,160

		Health Care Providers & Services – 5.7%

	8,500	Aetna Inc.		981,325
	23,400	Anthem Inc.		2,932,254
	34,800	Cardinal Health, Inc.		2,703,960
	7,900	Centene Corporation, (3)		528,984
	3,700	Davita Inc., (3)		244,459
	9,100	HCA Holdings Inc., (3)		688,233
	8,200	Henry Schein Inc., (3)		1,336,436
	5,500	Quest Diagnostics Incorporated		465,465
	18,200	UnitedHealth Group Incorporated		2,548,000
	6,400	Universal Health Services, Inc., Class B		788,608
		Total Health Care Providers & Services		13,217,724


NUVEEN			3


JCE	Nuveen Core Equity Alpha Fund
	Portfolio of Investments (continued)	September 30, 2016 (Unaudited)


Shares		Description (1)	Value

		Hotels, Restaurants & Leisure – 2.4%

	22,700	McDonald’s Corporation	$	2,618,672
	19,000	Starbucks Corporation		1,028,660
	10,500	Wynn Resorts Ltd		1,022,910
	10,500	YUM! Brands, Inc.		953,505
		Total Hotels, Restaurants & Leisure		5,623,747

		Household Durables – 1.6%

	31,700	D.R. Horton, Inc.		957,340
	5,600	Garmin Limited		269,416
	10,700	Leggett and Platt Inc.		487,706
	16,300	Newell Brands Inc.		858,358
	9,200	PulteGroup Inc.		184,368
	6,600	Whirlpool Corporation		1,070,256
		Total Household Durables		3,827,444

		Household Products – 1.3%

	6,000	Church & Dwight Company Inc.		287,520
	4,300	Clorox Company		538,274
	17,500	Kimberly-Clark Corporation		2,207,450
		Total Household Products		3,033,244

		Independent Power & Renewable Electricity Producers – 0.7%

	82,500	AES Corporation		1,060,125
	41,600	NRG Energy Inc.		466,336
		Total Independent Power & Renewable Electricity Producers		1,526,461

		Industrial Conglomerates – 0.3%

	2,100	Honeywell International Inc.		244,839
	2,600	Roper Technologies, Inc.		474,422
		Total Industrial Conglomerates		719,261

		Insurance – 4.1%

	4,200	Ace Limited		527,730
	21,100	AFLAC Incorporated		1,516,457
	1,700	Allstate Corporation		117,606
	3,100	AON PLC		348,719
	6,400	Arthur J. Gallagher & Co.		325,568
	5,600	Assurant Inc.		516,600
	29,000	Cincinnati Financial Corporation		2,187,180
	14,800	Hartford Financial Services Group, Inc.		633,736
	4,000	Loews Corporation		164,600
	10,200	Marsh & McLennan Companies, Inc.		685,950
	41,400	Progressive Corporation		1,304,100
	3,500	Torchmark Corporation		223,615
	5,900	Travelers Companies, Inc.		675,845
	10,100	Unum Group		356,631
		Total Insurance		9,584,337

		Internet Software & Services – 1.5%

	17,400	Facebook Inc., Class A Shares, (3)		2,231,898
	12,400	VeriSign, Inc., (3)		970,176
	7,600	Yahoo! Inc., (3)		327,560
		Total Internet Software & Services		3,529,634

		IT Services – 2.9%

	3,300	Accenture Limited		403,161
	10,300	Automatic Data Processing, Inc.		908,460
	26,000	Fiserv, Inc., (3)		2,586,220
	31,000	Paychex, Inc.		1,793,970
	24,900	Total System Services Inc.		1,174,035
		Total IT Services		6,865,846


	4			NUVEEN


Shares		Description (1)	Value

		Leisure Products – 0.9%

	13,700	Hasbro, Inc.	$	1,086,821
	35,700	Mattel, Inc.		1,080,996
		Total Leisure Products		2,167,817

		Life Sciences Tools & Services – 1.1%

	11,800	Agilent Technologies, Inc.		555,662
	7,500	Thermo Fisher Scientific, Inc.		1,192,950
	4,900	Waters Corporation, (3)		776,601
		Total Life Sciences Tools & Services		2,525,213

		Machinery – 2.7%

	2,600	Caterpillar Inc.		230,802
	3,300	Cummins Inc.		422,895
	3,900	Dover Corporation		287,196
	9,400	Flowserve Corporation		453,456
	6,700	Fortive Corporation		341,030
	4,300	Illinois Tool Works, Inc.		515,312
	14,200	Ingersoll Rand Company Limited, Class A		964,748
	4,600	Parker Hannifin Corporation		577,438
	8,700	Pentair Limited		558,888
	8,800	Stanley Black & Decker Inc.		1,082,224
	16,500	Xylem Inc.		865,425
		Total Machinery		6,299,414

		Media – 1.4%

	26,300	CBS Corporation, Class B		1,439,662
	67,800	Interpublic Group of Companies, Inc.		1,515,330
	4,100	Omnicom Group, Inc.		348,500
	400	Scripps Networks Interactive, Class A Shares		25,396
		Total Media		3,328,888

		Metals & Mining – 1.7%

	43,700	Freeport-McMoRan, Inc.		474,582
	49,700	Newmont Mining Corporation		1,952,713
	29,300	Nucor Corporation		1,448,885
		Total Metals & Mining		3,876,180

		Multiline Retail – 0.1%

	2,800	Dollar General Corporation		195,972
	700	Dollar Tree Stores Inc., (3)		55,251
	400	Target Corporation		27,472
		Total Multiline Retail		278,695

		Multi-Utilities – 4.1%

	21,600	Ameren Corporation		1,062,288
	57,900	CenterPoint Energy, Inc.		1,345,017
	13,200	CMS Energy Corporation		554,532
	18,100	Consolidated Edison, Inc.		1,362,930
	4,000	DTE Energy Company		374,680
	74,000	NiSource Inc., (2)		1,784,140
	6,800	Public Service Enterprise Group Incorporated		284,716
	23,400	Scana Corporation		1,693,458
	2,800	Sempra Energy		300,132
	15,600	WEC Energy Group, Inc.		934,128
		Total Multi-Utilities		9,696,021

		Oil, Gas & Consumable Fuels – 8.8%

	47,800	Apache Corporation		3,052,986
	46,700	Cabot Oil & Gas Corporation		1,204,860
	8,400	Cimarex Energy Company		1,128,708


NUVEEN			5


JCE	Nuveen Core Equity Alpha Fund
	Portfolio of Investments (continued)	September 30, 2016 (Unaudited)


Shares		Description (1)	Value

		Oil, Gas & Consumable Fuels (continued)

	8,600	Concho Resources Inc., (3)	$	1,181,210
	17,200	Devon Energy Corporation		758,692
	18,900	EQT Corporation		1,372,518
	17,200	Hess Corporation		922,264
	7,700	Marathon Oil Corporation		121,737
	21,100	Murphy Oil Corporation		641,440
	25,200	Newfield Exploration Company, (3)		1,095,192
	7,300	Occidental Petroleum Corporation		532,316
	28,600	ONEOK, Inc.		1,469,754
	29,600	Phillips 66		2,384,280
	1,200	Pioneer Natural Resources Company		222,780
	26,300	Range Resources Corporation		1,019,125
	63,800	Southwestern Energy Company, (3)		882,992
	41,700	Spectra Energy Corporation		1,782,675
	26,400	Williams Companies, Inc.		811,272
		Total Oil, Gas & Consumable Fuels		20,584,801

		Pharmaceuticals – 0.2%

	1,900	Bristol-Myers Squibb Company		102,448
	6,900	Zoetis Incorporated, (2)		358,869
		Total Pharmaceuticals		461,317

		Professional Services – 1.7%

	4,900	Dun and Bradstreet Inc.		669,438
	23,400	Equifax Inc.		3,149,172
	3,200	Nielsen Holdings PLC		171,424
		Total Professional Services		3,990,034

		Road & Rail – 0.7%

	10,700	J.B. Hunt Transports Services Inc.		868,198
	8,900	Kansas City Southern Industries		830,548
		Total Road & Rail		1,698,746

		Semiconductors & Semiconductor Equipment – 6.2%

	114,200	Applied Materials, Inc.		3,443,130
	21,044	Broadcom Limited		3,630,511
	13,700	KLA-Tencor Corporation		955,027
	11,600	Lam Research Corporation		1,098,636
	1,000	Linear Technology Corporation		59,290
	12,200	Microchip Technology Incorporated		758,108
	58,700	NVIDIA Corporation, (2)		4,022,124
	4,000	Qorvo Inc., (3)		222,960
	200	QUALCOMM, Inc.		13,700
	5,600	Texas Instruments Incorporated		393,008
		Total Semiconductors & Semiconductor Equipment		14,596,494

		Software – 2.3%

	33,000	Adobe Systems Incorporated, (2), (3)		3,581,820
	4,200	Electronic Arts Inc., (2), (3)		358,680
	5,400	Intuit, Inc.		594,054
	29,600	Symantec Corporation		742,960
		Total Software		5,277,514

		Specialty Retail – 2.6%

	3,500	Best Buy Co., Inc.		133,630
	19,500	Home Depot, Inc.		2,509,260
	36,400	Lowe’s Companies, Inc., (2)		2,628,444
	400	O’Reilly Automotive Inc., (3)		112,044
	1,100	Ross Stores, Inc.		70,730
	4,900	Tractor Supply Company		330,015
	1,400	Ulta Salon, Cosmetics & Fragrance, Inc., (3)		333,172
		Total Specialty Retail		6,117,295


	6			NUVEEN


Shares		Description (1)							Value

		Textiles, Apparel & Luxury Goods – 0.9%

	28,800	Coach, Inc.							$	1,052,928
	9,500	PVH Corporation								1,049,750
		Total Textiles, Apparel & Luxury Goods								2,102,678

		Tobacco – 2.1%

	33,100	Altria Group, Inc.								2,092,913
	60,078	Reynolds American Inc., (2)								2,832,678
		Total Tobacco								4,925,591

		Trading Companies & Distributors – 0.3%

	2,500	Fastenal Company								104,450
	7,600	United Rentals Inc., (3)								596,524
		Total Trading Companies & Distributors								700,974

		Water Utilities – 0.9%

	27,700	American Water Works Company								2,073,068
		Total Long-Term Investments (cost $199,809,225)								230,184,626

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value

		SHORT-TERM INVESTMENTS – 3.8%

		REPURCHASE AGREEMENTS – 2.7%

$	5,019	Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/16, repurchase price $5,019,528, collateralized by $4,525,000 U.S. Treasury Bonds, 2.875%, due 8/15/45, value $5,124,563		0.030%		10/03/16		N/A	$	5,019,515

	1,349	Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/16, repurchase price $1,348,602, collateralized by $1,180,000 U.S. Treasury Bonds, 3.000%, due 11/15/45, value $1,377,650		0.030%		10/03/16		N/A		1,348,599
	6,368	Total Repurchase Agreements								6,368,114

		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.1%

	2,500	U.S. Treasury Bills, (2)		0.000%		2/02/17		AAA		2,497,232
$	8,868	Total Short-Term Investments (cost $8,864,557)								8,865,346
		Total Investments (cost $208,673,782) – 102.2%								239,049,972
		Other Assets Less Liabilities – (2.2)% (5)								(5,124,751	)
		Net Assets – 100%							$	233,925,221

Investments in Derivatives as of September 30, 2016

Options Written


Number of Contracts			Description	Notional Amount (6)			Expiration Date		Strike Price		Value
	(250	)	RUSSELL 2000^® Index	$	(31,250,000	)		10/21/16	$	1,250	$	(438,750	)
	(195	)	RUSSELL 2000^® Index		(24,570,000	)		10/21/16		1,260		(234,000	)
	(350	)	RUSSELL 2000^® Index		(44,450,000	)		10/21/16		1,270		(264,250	)
	(795	)	Total Options Written (premiums received $648,826)	$	(100,270,000	)					$	(937,000	)


NUVEEN			7


JCE	Nuveen Core Equity Alpha Fund
	Portfolio of Investments (continued)	September 30, 2016 (Unaudited)

Futures Contracts


Description	Contract Position		Number of Contracts		Contract Expiration		Notional Amount at Value		Variation Margin Receivable/ (Payable)		Unrealized Appreciation (Depreciation)
S&P 500 E-Mini		Long		40		12/16	$	4,320,800	$	23,800	$	16,813

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.


Level 1 –		Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –		Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –		Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risk 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	$	230,184,626		$	—	$	—	$	230,184,626

Short-Term Investments:
Repurchase Agreements		—			6,368,114		—		6,368,114
U.S. Government and Agency Obligations		—			2,497,232		—		2,497,232

Investments in Derivatives:
Options Written		(937,000	)		—		—		(937,000	)
Futures Contracts*		16,813			—		—		16,813
Total	$	229,264,439		$	8,865,346	$	—	$	238,129,785

*	Represents net unrealized appreciation (depreciation).

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 and certain options 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.

As of September 30, 2016, the cost of investments (excluding investments in derivatives) was $208,714,017.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of September 30, 2016, were as follows:


Gross unrealized:
Appreciation	$	33,220,092
Depreciation		(2,884,137	)
Net unrealized appreciation (depreciation) of investments	$	30,335,955


	8			NUVEEN

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

(3)	Non-income producing; issuer has not declared a dividend within the past twelve months.

(4)

For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as Fund investment policies. 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 the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC-cleared and exchange-traded derivatives, when applicable. Other assets less liabilities also includes the value of options.

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

N/A	Not Applicable


NUVEEN			9

Item 2. Controls and Procedures.

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

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

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant)		Nuveen Core Equity Alpha Fund

By (Signature and Title)		/s/ Gifford R. Zimmerman
		Gifford R. Zimmerman
		Vice President and Secretary

Date: November 29, 2016

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/ Cedric H. Antosiewicz
		Cedric H. Antosiewicz
		Chief Administrative Officer (principal executive officer)

Date: November 29, 2016

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

Date: November 29, 2016