Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)

 

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 811-10637

 

Nuveen Ohio Dividend Advantage Municipal Fund 3

(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:             2/28          

 

Date of reporting period:          11/30/12         

 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

 

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 

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Item 1. Schedule of Investments

 

		Portfolio of Investments (Unaudited)
		Nuveen Ohio Dividend Advantage Municipal Fund 3 (NVJ)
		November 30, 2012
Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Consumer Staples – 7.5% (5.0% of Total Investments)
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
		Bonds, Senior Lien, Series 2007A-2:
$      1,000		5.125%, 6/01/24	6/17 at 100.00	B	$      902,590
2,000		5.875%, 6/01/47	6/17 at 100.00	BB	1,783,940
20		Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,	5/13 at 100.00	BBB+	20,023
		Series 2002, 5.375%, 5/15/33
3,020		Total Consumer Staples			2,706,553
		Education and Civic Organizations – 9.8% (6.6% of Total Investments)
275		Miami University of Ohio, General Receipts Bonds, Series 2011, 5.000%, 9/01/36	9/21 at 100.00	AA	325,531
180		Miami University of Ohio, General Receipts Bonds, Series 2012, 4.000%, 9/01/32	9/22 at 100.00	AA	200,185
350		Ohio Higher Education Facilities Commission, General Revenue Bonds, Kenyon College, Series	7/16 at 100.00	A+	370,020
		2006, 5.000%, 7/01/41
1,125		Ohio Higher Education Facilities Commission, Revenue Bonds, Ohio Northern University, Series	5/13 at 100.00	Baa2	1,128,150
		2002, 5.750%, 5/01/16
650		Ohio Higher Education Facilities Commission, Revenue Bonds, Wittenberg University, Series	12/15 at 100.00	Ba2	651,612
		2005, 5.000%, 12/01/24
		Ohio Higher Educational Facilities Commission, Revenue Bonds, Denison University Project,
		Series 2012:
120		5.000%, 11/01/27	5/22 at 100.00	AA	147,263
590		5.000%, 11/01/32	5/22 at 100.00	AA	707,345
3,290		Total Education and Civic Organizations			3,530,106
		Health Care – 24.5% (16.4% of Total Investments)
200		Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series	6/20 at 100.00	AA–	226,798
		2010A, 5.250%, 6/01/38
695		Butler County, Ohio, Hospital Facilities Revenue Bonds, Cincinnati Children’s Medical Center	5/16 at 100.00	N/R	727,860
		Project, Series 2006K, 5.000%, 5/15/31 – FGIC Insured
600		Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project,	11/19 at 100.00	Aa2	679,566
		Improvement Series 2009, 5.250%, 11/01/40
420		Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project, Series	11/18 at 100.00	Aa2	458,216
		2005, 5.000%, 11/01/40
320		Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Tender Option Bond	11/21 at 100.00	AA+	405,107
		Trust 11-21B, 9.316%, 11/15/41 (IF) (4)
625		Hancock County, Ohio, Hospital Revenue Bonds, Blanchard Valley Regional Health Center, Series	6/21 at 100.00	A2	756,344
		2011A, 6.250%, 12/01/34
1,000		Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding	8/18 at 100.00	A3	1,127,450
		Series 2008C, 6.000%, 8/15/43
550		Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series	11/21 at 100.00	AA–	683,903
		2011A, 6.000%, 11/15/41
160		Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center	5/16 at 100.00	A2	175,866
		Inc., Series 2006, 5.250%, 5/15/21
100		Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center	8/21 at 100.00	A2	112,546
		Project, Refunding Series 2011, 5.250%, 8/01/41
500		Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A,	5/14 at 100.00	AA–	521,500
		5.000%, 5/01/30
105		Montgomery County, Ohio, Revenue Bonds, Miami Valley Hospital, Series 2009A, 6.250%, 11/15/39	11/14 at 100.00	Aa3	114,350
		Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic
		Health System Obligated Group, Series 2008A:
600		5.000%, 1/01/25	1/18 at 100.00	Aa2	679,638
100		5.250%, 1/01/33	1/18 at 100.00	Aa2	112,066
200		Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Summa Health	5/20 at 100.00	AA–	225,538
		System Project, Series 2010, 5.250%, 11/15/40 – AGM Insured
100		Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System	1/19 at 100.00	Aa2	114,919
		Obligated Group, Series 2009A, 5.500%, 1/01/39
		Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System
		Obligated Group, Tender Option Bond Trust 3551:
125		19.555%, 1/01/17 (IF)	No Opt. Call	Aa2	184,170
425		20.062%, 1/01/33 (IF)	1/19 at 100.00	Aa2	678,623
100		Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System	No Opt. Call	Aa2	159,676
		Obligated Group, Tender Option Bond Trust 3591, 20.220%, 1/01/17 (IF)
250		Richland County, Ohio, Hospital Revenue Bonds, MidCentral Health System Group, Series 2006,	11/16 at 100.00	A–	266,465
		5.250%, 11/15/36
110		Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008,	12/18 at 100.00	A2	125,564
		5.750%, 12/01/35
260		Wood County, Ohio, Hospital Facilities Refunding and Improvement Revenue Bonds, Wood County	12/22 at 100.00	Baa2	279,596
		Hospital Project, Series 2012, 5.000%, 12/01/37 (WI/DD, Settling 12/06/12)
7,545		Total Health Care			8,815,761
		Housing/Multifamily – 3.1% (2.1% of Total Investments)
200		Montgomery County, Ohio, GNMA Guaranteed Multifamily Housing Revenue Bonds, Canterbury Court	10/18 at 101.00	Aa1	219,786
		Project, Series 2007, 5.500%, 10/20/42 (Alternative Minimum Tax)
155		Ohio Housing Finance Agency, FHA-Insured Multifamily Housing Mortgage Revenue Bonds, Madonna	6/16 at 102.00	Aaa	163,483
		Homes, Series 2006M, 4.900%, 6/20/48 (Alternative Minimum Tax)
685		Summit County Port Authority, Ohio, Multifamily Housing Revenue Bonds, Callis Tower Apartments	9/17 at 102.00	AA+	739,142
		Project, Series 2007, 5.250%, 9/20/47 (Alternative Minimum Tax)
1,040		Total Housing/Multifamily			1,122,411
		Housing/Single Family – 0.3% (0.2% of Total Investments)
90		Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities	9/15 at 100.00	Aaa	93,281
		Program, Series 2006H, 5.000%, 9/01/31 (Alternative Minimum Tax)
		Industrials – 5.3% (3.6% of Total Investments)
555		Cleveland-Cuyahoga County Port Authority, Ohio, Common Bond Fund Revenue Bonds, Cleveland	5/14 at 100.00	BBB	562,986
		Christian Home Project, Series 2002C, 5.950%, 5/15/22
1,000		Toledo-Lucas County Port Authority, Ohio, Revenue Refunding Bonds, CSX Transportation Inc.,	No Opt. Call	Baa2	1,299,990
		Series 1992, 6.450%, 12/15/21
400		Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc.,	7/17 at 102.00	N/R	56,108
		Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax) (5)
1,955		Total Industrials			1,919,084
		Long-Term Care – 1.1% (0.7% of Total Investments)
95		Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement	7/21 at 100.00	BBB	108,481
		Services, Improvement Series 2010A, 5.625%, 7/01/26
245		Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard,	4/20 at 100.00	BBB–	281,076
		Refunding & improvement Series 2010, 6.625%, 4/01/40
340		Total Long-Term Care			389,557
		Tax Obligation/General – 43.2% (28.9% of Total Investments)
1,000		Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements, Series	6/22 at 100.00	AAA	1,252,170
		2012, 5.000%, 12/01/26 – AMBAC Insured
1,000		Cleveland, Ohio, General Obligation Bonds, Series 2011, 5.000%, 12/01/29	12/19 at 100.00	AA	1,146,200
		Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006:
1,815		0.000%, 12/01/27 – AGM Insured	No Opt. Call	AA+	1,128,095
1,000		0.000%, 12/01/28 – AGM Insured	No Opt. Call	AA+	593,680
300		Cuyahoga County, Ohio, General Obligation Bonds, Series 2004, 5.000%, 12/01/21	12/14 at 100.00	AA+	326,184
1,000		Franklin County, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/27	12/17 at 100.00	AAA	1,178,380
250		Green, Ohio, General Obligation Bonds, Series 2008, 5.500%, 12/01/32	12/15 at 100.00	AA+	276,650
1,275		Hamilton City School District, Ohio, General Obligation Bonds, Series 2007, 5.000%,	6/17 at 100.00	AA–	1,427,885
		12/01/34 – AGM Insured
1,000		Indian Lake Local School District, Logan and Auglaize Counties, Ohio, School Facilities	6/17 at 100.00	Aa3	1,128,750
		Improvement and Refunding Bonds, Series 2007, 5.000%, 12/01/34 – NPFG Insured
500		Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2011,	No Opt. Call	Aa1	414,755
		0.000%, 12/01/21
210		Lakewood City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series 2007,	12/17 at 100.00	Aa2	246,681
		5.000%, 12/01/25 – FGIC Insured
235		Lucas County, Ohio, General Obligation Bonds, Various Purpose Series 2010, 5.000%, 10/01/40	10/18 at 100.00	Aa2	265,595
500		Marysville Exempted School District, Union County, Ohio, General Obligation Bonds, Series	12/15 at 100.00	AA–	557,110
		2006, 5.000%, 12/01/25 – AGM Insured
100		Mason City School District, Counties of Warren and Butler, Ohio, General Obligation Bonds,	6/17 at 100.00	Aaa	114,639
		Series 2007, 5.000%, 12/01/31
500		Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding	No Opt. Call	Aa3	666,805
		Series 2007, 5.250%, 12/01/31 – AGM Insured
50		Milford Exempted Village School District, Ohio, General Obligation Bonds, Series 2008,	12/18 at 100.00	Aa3	57,389
		5.250%, 12/01/36
100		Monroe Local School District, Butler County, Ohio, General Obligation Bonds, Series 2006,	No Opt. Call	A2	127,152
		5.500%, 12/01/24 – AMBAC Insured
150		Napoleon City School District, Henry County, Ohio, General Obligation Bonds, Facilities	6/22 at 100.00	Aa3	174,578
		Construction & Improvement Series 2012, 5.000%, 12/01/36
150		Northmor Local School District, Morrow County, Ohio, General Obligation School Facilities	11/18 at 100.00	Aa2	169,683
		Construction and Improvement Bonds, Series 2008, 5.000%, 11/01/36
500		Oak Hills Local School District, Hamilton County, Ohio, General Obligation Bonds, Refunding	12/15 at 100.00	AA–	553,510
		Series 2005, 5.000%, 12/01/24 – AGM Insured
1,000		Ohio State, General Obligation Highway Capital Improvement Bonds, Series 2012Q, 5.000%, 5/01/28	5/22 at 100.00	AAA	1,254,920
1,000		South Euclid, Ohio, General Obligation Bonds, Real Estate Acquisition and Urban Redevelopment,	6/22 at 100.00	Aa2	1,168,360
		Series 2012, 5.000%, 6/01/42
500		South-Western City School District, Franklin and Pickaway Counties, Ohio, General Obligation	6/22 at 100.00		596,515
		Bonds, School Facilities Construction & Improvement Series 2012, 5.000%, 12/01/36
500		Sylvania City School District, Lucas County, Ohio, General Obligation Bonds, School	6/17 at 100.00	Aa2	571,355
		Improvement Series 1995, 5.250%, 12/01/36 – AGC Insured
100		Vandalia Butler City School District, Montgomery County, Ohio, General Obligation Bonds,	6/19 at 100.00	AA	113,455
		School Improvment Series 2009, 5.125%, 12/01/37
14,735		Total Tax Obligation/General			15,510,496
		Tax Obligation/Limited – 16.1% (10.8% of Total Investments)
250		Cuyhoga County, Ohio, Recovery Zone Facility Economic Development Revenue Bonds, Medical Mart-	12/20 at 100.00	AA	294,580
		Convention Center Project, Series 2010F, 5.000%, 12/01/27
75		Delaware County District Library, Delaware, Franklin, Marion, Morrow and Union Counties, Ohio,	12/19 at 100.00	Aa2	86,483
		Library Fund Library Facilities Special Obligation Notes, Series 2009, 5.000%, 12/01/34
265		Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42	1/22 at 100.00	A	303,028
125		Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/42	1/22 at 100.00	A	141,719
600		Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement	12/21 at 100.00	AAA	719,454
		Bonds, Refunding Series 2012, 5.000%, 12/01/31
750		Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006A, 5.000%,	12/16 at 100.00	A+	836,048
		12/01/32 – AMBAC Insured
65		Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series 2000B, 0.000%,	No Opt. Call	AA–	35,671
		12/01/28 – AGM Insured
1,000		Hamilton County, Ohio, Sales Tax Revenue Bonds, Refunding Series 2011A, 5.000%, 12/01/31	12/21 at 100.00	A+	1,158,050
35		New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series	10/22 at 100.00	A1	42,333
		2012C, 5.000%, 10/01/24
200		Ohio State Building Authority, State Facilities Bonds, Administrative Building Fund Projects,	4/15 at 100.00	AA	220,152
		Series 2005A, 5.000%, 4/01/25 – AGM Insured
1,835		Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series	No Opt. Call	A+	543,032
		2010A, 0.000%, 8/01/35
400		Riversouth Authority, Ohio, Riversouth Area Redevelopment Bonds, Refunding Series 2012A,	12/22 at 100.00	AA+	493,520
		5.000%, 12/01/24
765		Vermilion Local School District, East and Lorain Counties, Ohio, Certificates of	12/20 at 100.00	Aa3	904,827
		Participation, Series 2012, 5.000%, 12/01/24 (WI/DD, Settling 12/12/12)
6,365		Total Tax Obligation/Limited			5,778,897
		Transportation – 5.3% (3.6% of Total Investments)
1,550		Ohio Turnpike Commission, Revenue Refunding Bonds, Series 1998A, 5.500%, 2/15/18 – FGIC Insured	No Opt. Call	AA	1,909,213
		U.S. Guaranteed – 15.5% (10.4% of Total Investments) (6)
1,000		Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2003,	6/13 at 100.00	Aa1 (6)	1,024,030
		5.000%, 12/01/22 (Pre-refunded 6/01/13) – NPFG Insured
1,000		Midview Local School District, Lorain County, Ohio, Certificates of Participation, Series	5/13 at 100.00	A1 (6)	1,019,750
		2003, 5.000%, 11/01/30 (Pre-refunded 5/01/13)
2,000		Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, University	1/15 at 100.00	A (6)	2,266,300
		Hospitals Health System, Series 2009, 6.750%, 1/15/39 (Pre-refunded 1/15/15)
160		Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, State Match,	6/18 at 100.00	AAA	196,222
		Series 2008, 5.000%, 6/01/28 (Pre-refunded 6/01/18) – AGM Insured
1,000		Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation	6/14 at 100.00	AA+ (6)	1,073,650
		Bonds, Series 2004A, 5.250%, 12/01/21 (Pre-refunded 6/01/14) – FGIC Insured
5,160		Total U.S. Guaranteed			5,579,952
		Utilities – 3.6% (2.4% of Total Investments)
500		American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project	2/18 at 100.00	A1	567,630
		Series 2008A, 5.250%, 2/15/43
1,595		Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B, 0.000%, 11/15/32 – NPFG Insured	No Opt. Call	A2	689,710
25		Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation	No Opt. Call	BBB–	30,344
		Project, Series 2009E, 5.625%, 10/01/19
2,120		Total Utilities			1,287,684
		Water and Sewer – 13.9% (9.3% of Total Investments)
1,100		Cincinnati, Ohio, Water System Revenue Bonds, Series 2012A, 5.000%, 12/01/37	12/21 at 100.00	AAA	1,317,030
130		City of Marysville, Ohio, Water System Mortgage Revenue Bonds, Series 2007, 5.000%,	12/17 at 100.00	A1	148,738
		12/01/32 – AMBAC Insured
1,975		Cleveland, Ohio, Water Revenue Bonds, Second Lien Series 2012A, 5.000%, 1/01/26	1/22 at 100.00	Aa2	2,425,395
950		Ironton, Ohio, Sewer System Improvement Revenue Bonds, Series 2011, 5.250%,	12/20 at 100.00	Aa3	1,105,107
		12/01/40 – AGM Insured
4,155		Total Water and Sewer			4,996,270
$ 51,365		Total Investments (cost $47,890,212) – 149.2%			53,639,265
		MuniFund Term Preferred Shares, at Liquidation Value – (51.4)% (7)			(18,470,150)
		Other Assets Less Liabilities – 2.2%			785,169
		Net Assets Applicable to Common Shares – 100%			$ 35,954,284

 

 

 

 

 

 

 

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Fair Value Measurements

 

Fair value is defined as the price that the Funds 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*:
Municipal Bonds	$ —	$53,639,265	$ —	$53,639,265

* Refer to the Fund’s Portfolio of Investments for industry classifications.

 

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.

 

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 November 30, 2012, the cost of investments was $47,811,147.

 

Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2012, were as follows:

Gross unrealized:
Appreciation	$6,125,859
Depreciation	(297,741)
Net unrealized appreciation (depreciation) of investments	$5,828,118

 

 

(1)		All percentages shown in the Portfolio of Investments are based on net assets applicable to Common
		shares unless otherwise noted.
(2)		Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
		There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
		may be subject to periodic principal paydowns.
(3)		Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
		Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s

		or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by
		any of these national rating agencies.
(4)		Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
		investments in inverse floating rate transactions.
(5)		At or subsequent to the end of the reporting period, this security is non-income producing. Non-income
		producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the
		payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the
		Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations
		and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
(6)		Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
		which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
		agency securities are regarded as having an implied rating equal to the rating of such securities.
(7)		MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.4%.
N/R		Not rated.
WI/DD		Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
(IF)		Inverse floating rate investment.

 

 

 

 

 

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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.

 

 

 

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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 Ohio Dividend Advantage Municipal Fund 3 

 

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

                                                   Kevin J. McCarthy

                                                   Vice President and Secretary

 

Date:          January 29, 2013        

 

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:          January 29, 2013        

 

By (Signature and Title)     /s/ Stephen D. Foy                              

                                                   Stephen D. Foy

                                                  Vice President and Controller (principal financial officer) 

 

Date:          January 29, 2013