Nuveen Municipal High Income Opportunity Fund 2-United States (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         811-22123         

        Nuveen Municipal High Income Opportunity Fund 2         
(Exact name of registrant as specified in charter)

Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)

Kevin J. McCarthy Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

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

Date of fiscal year end:             10/31          

Date of reporting period:          1/31/08         

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 Municipal High Income Opportunity Fund 2 (NMD)
		January 31, 2008
Principal				Optional Call
Amount (000)		Description (1)		Provisions (2)		Ratings (3)		Value
		Alabama – 1.0% (0.9% of Total Investments)
$        2,290		Birmingham Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist Health		11/15 at 100.00		Baa1	$	2,274,016
		System Inc., Series 2005A, 5.250%, 11/15/20
		Arizona – 3.9% (3.5% of Total Investments)
1,000		Estrella Mountain Ranch Community Facilities District, Goodyear, Arizona, General Obligation		7/17 at 100.00		N/R		1,001,450
		Bonds, Series 2007, 6.200%, 7/15/32
4,000		Quechan Indian Tribe of the Fort Yuma Reservation, Arizona, Government Project Bonds, Series		12/17 at 102.00		N/R		4,002,320
		2007, 7.000%, 12/01/27
3,125		Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Trust 2373, 14.078%,		No Opt. Call		AA–		2,895,469
		12/01/37 (IF)
1,000		Yuma County Industrial Development Authority, Arizona, Exempt Revenue Bonds, Far West Water &		12/17 at 100.00		N/R		990,660
		Sewer Inc. Refunding, Series 2007A, 6.375%, 12/01/37 (Alternative Minimum Tax)
9,125		Total Arizona						8,889,899
		California – 17.9% (15.8% of Total Investments)
2,000		California Educational Facilities Authority, Revenue Bonds, Dominican University, Series 2006,		12/16 at 100.00		Baa3		1,801,500
		5.000%, 12/01/36
3,750		California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007,		11/16 at 100.00		AA–		3,928,800
		Trust 1757, 13.547%, 11/15/46 (IF)
7,000		California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity		7/15 at 100.00		BBB+		6,700,890
		Health System, Series 2005A, 5.250%, 7/01/35
4,040		California, General Obligation Veterans Welfare Bonds, Series 2007CE, Trust K85W, 12.994%,		12/15 at 100.00		AA–		4,077,249
		12/01/32 (IF)
		Daly City Housing Development Finance Agency, California, Mobile Home Park Revenue Bonds,
		Franciscan Mobile Home Park Refunding, Series 2007A:
3,500		5.000%, 12/15/37		12/17 at 100.00		A–		3,340,680
2,000		6.500%, 12/15/47		12/17 at 100.00		N/R		1,900,660
5,000		Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset		6/15 at 100.00		A		4,829,000
		Backed Bonds, Series 2005A, Trust K75W, 8.018%, 6/01/38 – FGIC Insured (IF)
		Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
		Asset-Backed Bonds, Series 2007A-1:
3,000		5.750%, 6/01/47		6/17 at 100.00		BBB		2,876,040
2,500		5.125%, 6/01/47		6/17 at 100.00		BBB		2,165,825
3,190		Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed		6/15 at 100.00		AAA		2,987,626
		Revenue Bonds, Series 2005A, Trust 2213, 10.301%, 6/01/45 – AMBAC Insured (IF)
6,015		Independent Cities Lease Finance Authority, California, Senior Lien Revenue Bonds, Caritas		8/15 at 100.00		BBB		5,328,328
		Affordable Housing Project Mobile Home Park, Series 2005A, 5.200%, 8/15/45 – ACA Insured
500		Moorpark, California, Special Tax Bonds, Community Facilities District 2004-1, Moorpark		9/16 at 100.00		N/R		442,640
		Highlands Project, Series 2006, 5.300%, 9/01/38
42,495		Total California						40,379,238
		Colorado – 6.0% (5.3% of Total Investments)
500		Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Carbon		12/16 at 100.00		N/R		455,955
		Valley Academy, Series 2006, 5.625%, 12/01/36
1,530		Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Windsor		5/17 at 100.00		BB+		1,383,227
		Academy, Series 2007A, 5.700%, 5/01/37
2,000		Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Pikes Peak School of		6/18 at 102.00		N/R		1,977,840
		Expeditionary Learning Charter School, Series 2008, 6.625%, 6/01/38
2,000		Colorado Health Facilities Authority, Revenue Bonds, Poudre Valley Health Care, Series 2005F,		3/15 at 100.00		BBB+		1,978,400
		5.000%, 3/01/25
5,045		Colorado Housing and Finance Authority, Revenue Bonds, Confluence Energy LLC Project, Series		4/17 at 100.00		N/R		4,862,976
		2007, 6.750%, 4/01/27 (Alternative Minimum Tax)
3,000		University of Colorado Hospital Authority, Revenue Bonds, Series 2006A, 5.250%, 11/15/39		5/16 at 100.00		Baa1		2,876,820
14,075		Total Colorado						13,535,218
		Florida – 11.2% (9.8% of Total Investments)
2,000		Escambia County, Florida, Environmental Improvement Revenue Bonds, International Paper Company		8/11 at 100.00		BBB		1,793,780
		Projects, Series 2006B, 5.000%, 8/01/26 (Alternative Minimum Tax)
3,000		Jacksonville Economic Development Commission, Florida, Health Care Facilities Revenue Bonds,		5/16 at 100.00		AA		3,012,900
		Mayo Clinic, Series 2006, 5.000%, 11/15/36
3,000		Old Palm Community Development District, Florida, Special Assessment Bonds, Palm Beach		5/15 at 101.00		N/R		2,429,520
		Gardens, Series 2004A, 5.900%, 5/01/35
1,500		Palm Glades Community Development District, Florida, Special Assessment Bond, Series 2008A,		5/18 at 100.00		N/R		1,494,180
		7.125%, 5/01/39
1,000		Poinciana West Community Development District, Florida, Special Assessment Bonds, Series 2007,		5/17 at 100.00		N/R		900,610
		6.000%, 5/01/37
1,000		Reunion West Community Development District, Florida, Special Assessment Bonds, Series 2004,		5/12 at 101.00		N/R		915,140
		6.250%, 5/01/36
2,850		South Miami Health Facilities Authority, Florida, Revenue Bonds, Baptist Health Systems of		8/17 at 100.00		AA–		2,754,183
		South Florida, Trust 1030, 11.845%, 8/15/37 (IF)
6,000		Split Pine Community Development District, Florida, Special Assessment Bonds, Series 2007A,		5/17 at 100.00		N/R		4,836,120
		5.250%, 5/01/39
5,000		Stoneybrook Venice Community Development District, Florida, Capital Improvement Revenue Bonds,		5/18 at 100.00		N/R		4,907,650
		Series 2007, 6.750%, 5/01/38
1,500		Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006,		5/14 at 101.00		N/R		1,243,695
		5.400%, 5/01/37
1,000		Winter Garden Village at Fowler Groves Community Development District, Florida, Special		5/16 at 100.00		N/R		881,580
		Assessment Bonds, Series 2006, 5.650%, 5/01/37
27,850		Total Florida						25,169,358
		Georgia – 2.4% (2.1% of Total Investments)
3,500		Effingham County Industrial Development Authority, Georgia, Pollution Control Revenue		6/11 at 101.00		B2		3,395,490
		Refunding Bonds, Georgia-Pacific Project, Series 2001, 6.500%, 6/01/31
2,000		Fulton County Residential Care Facilities Authority, Georgia, Revenue Bonds, Canterbury Court,		2/09 at 100.00		N/R		1,952,920
		Series 2004A, 6.125%, 2/15/34
5,500		Total Georgia						5,348,410
		Idaho – 1.7% (1.5% of Total Investments)
		Madison County, Idaho, Hospital Revenue Certificates of Participation, Madison Memorial
		Hospital, Series 2006:
2,145		5.250%, 9/01/26		9/16 at 100.00		BBB–		2,015,249
2,000		5.250%, 9/01/37		9/16 at 100.00		BBB–		1,772,040
4,145		Total Idaho						3,787,289
		Illinois – 7.9% (7.0% of Total Investments)
5,620		Illinois Finance Authority, Charter School Revenue Bonds, Chicago Charter School Foundation,		No Opt. Call		BBB		4,940,149
		Series 2007, 5.000%, 12/01/36
1,500		Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007, 5.500%, 4/01/37		4/17 at 100.00		Baa1		1,498,785
7,425		Illinois Finance Authority, Revenue Bonds, Sherman Health Systems, Series 2007A,		8/17 at 100.00		A–		7,313,105
		5.500%, 8/01/37
		Southwestern Illinois Development Authority, Illinois, Saint Clair County Comprehensive Mental
		Health Center, Series 2007:
1,295		6.200%, 6/01/17		No Opt. Call		N/R		1,332,749
2,745		6.625%, 6/01/37		6/17 at 103.00		N/R		2,801,520
18,585		Total Illinois						17,886,308
		Indiana – 2.7% (2.4% of Total Investments)
3,000		Hospital Authority of Delaware County, Indiana, Hospital Revenue Bonds, Cardinal Health		8/16 at 100.00		Baa2		2,686,890
		System, Series 2006, 5.125%, 8/01/29
2,000		Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest		3/17 at 100.00		BBB–		1,885,320
		Indiana, Series 2007, 5.500%, 3/01/37
1,625		Vigo County, Indiana, Hospital Authority, Union Hospital, Revenue Bonds, Series 2007,		9/17 at 100.00		N/R		1,523,080
		5.800%, 9/01/47
6,625		Total Indiana						6,095,290
		Louisiana – 8.6% (7.6% of Total Investments)
5,000		Greystone Community Development District, Louisiana, Special Assessment Bonds, Livingston		12/14 at 100.00		N/R		5,088,150
		Parish, Series 2007, 6.750%, 12/01/22
7,500		Louisiana Local Government Envirnomental Facilities & Community Development Authority, Revenue		11/17 at 100.00		BB+		7,731,074
		Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32
500		Louisiana Local Government Environmental Facilities and Community Development Authority,		No Opt. Call		AAA		567,745
		Revenue Bonds, Capital Projects and Equipment Acquisition Program, Series 2000A, 6.300%,
		7/01/30 – AMBAC Insured
5,000		Louisiana Local Government Environmental Facilities and Community Development Authority,		12/17 at 100.00		N/R		5,003,050
		Revenue Bonds, Southgate Suites Hotel LLC Project, Series 2007A, 6.750%, 12/15/37
1,000		Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds,		5/11 at 101.00		BBB		974,760
		Series 2001B, 5.875%, 5/15/39
19,000		Total Louisiana						19,364,779
		Maryland – 1.3% (1.2% of Total Investments)
3,000		Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical		7/17 at 100.00		BBB		2,962,410
		Center Project, Series 2007A, 5.500%, 7/01/42
		Michigan – 0.8% (0.7% of Total Investments)
1,750		Michigan Public Educational Facilities Authority, Charter School Revenue Bonds, American		12/17 at 100.00		N/R		1,741,793
		Montessori Academy, Series 2007, 6.500%, 12/01/37
20		Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Detroit Medical Center		8/08 at 101.00		Ba3		18,903
		Obligated Group, Series 1998A, 5.250%, 8/15/23
1,770		Total Michigan						1,760,696
		Minnesota – 2.2% (2.0% of Total Investments)
5,000		St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc.,		11/15 at 100.00		Baa3		5,025,700
		Series 2005, 6.000%, 11/15/35
		Missouri – 1.0% (0.8% of Total Investments)
40		Saint Louis Industrial Development Authority, Missouri, Saint Louis Convention Center		12/10 at 102.00		Caa2		39,743
		Headquarters Hotel Project, Series 2000A, 7.000%, 12/15/15 (Alternative Minimum Tax)
2,105		Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Fashion Square Redevelopment		3/08 at 100.00		N/R		2,105,000
		Project, Series 2008A, 6.300%, 8/22/26 (WI/DD, Settling 2/07/08)
2,145		Total Missouri						2,144,743
		Nevada – 0.5% (0.4% of Total Investments)
1,200		Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas		1/10 at 102.00		AAA		1,118,004
		Monorail Project, First Tier, Series 2000, 5.625%, 1/01/32 – AMBAC Insured
		New Jersey – 4.8% (4.3% of Total Investments)
		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental
		Airlines Inc., Series 1999:
5,000		6.250%, 9/15/19 (Alternative Minimum Tax)		9/09 at 101.00		B		4,841,350
45		6.400%, 9/15/23 (Alternative Minimum Tax)		9/09 at 101.00		B		43,259
240		6.250%, 9/15/29 (Alternative Minimum Tax)		9/09 at 101.00		B		225,523
25		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental		11/10 at 101.00		B		25,204
		Airlines Inc., Series 2000, 7.000%, 11/15/30 (Alternative Minimum Tax)
5,700		New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters		7/18 at 100.00		Baa2		5,750,787
		University Hospital, Series 2007, 5.750%, 7/01/37
11,010		Total New Jersey						10,886,123
		New Mexico – 0.2% (0.2% of Total Investments)
500		Montecito Estates Public Improvement District, New Mexico, Special Levee Revenue Bonds, Series		10/17 at 100.00		N/R		499,065
		2007, 7.000%, 10/01/37 – FGIC Insured
		New York – 2.8% (2.5% of Total Investments)
5,000		New York City Industrial Development Agency, New York, American Airlines-JFK International		8/16 at 101.00		B		5,400,050
		Airport Special Facility Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum Tax)
1,030		New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special		7/16 at 101.00		N/R		1,024,036
		Needs Facilities Pooled Program, Series 2008A-1, 5.800%, 7/01/23
6,030		Total New York						6,424,086
		North Carolina – 0.7% (0.6% of Total Investments)
1,685		Albemarle Hospital Authority, North Carolina, Health Care Facilities Revenue Bonds, Series		10/17 at 100.00		BBB		1,576,722
		2007, 5.250%, 10/01/38
		Ohio – 3.8% (3.3% of Total Investments)
6,845		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue		6/17 at 100.00		BBB		6,610,696
		Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/47
2,000		Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc.,		7/17 at 102.00		N/R		1,901,160
		Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax)
8,845		Total Ohio						8,511,856
		Oklahoma – 1.0% (0.9% of Total Investments)
2,295		Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,		2/17 at 100.00		AA–		2,169,142
		Trust 1037, 12.600%, 2/15/42 (IF)
45		Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds, American Airlines Inc., Series 1995,		6/08 at 100.00		B		43,662
		6.250%, 6/01/20
2,340		Total Oklahoma						2,212,804
		Pennsylvania – 1.3% (1.1% of Total Investments)
1,010		Chester County Industrial Development Authority, Pennsylvania, Avon Grove Charter School		12/17 at 100.00		BB+		1,002,566
		Revenue Bonds, Series 2007A, 6.375%, 12/15/37
1,900		Lancaster County Hospital Authority, Pennsylvania, Revenue Bonds, Brethren Village Project,		7/17 at 100.00		N/R		1,919,836
		Series 2008A, 6.500%, 7/01/40
2,910		Total Pennsylvania						2,922,402
		Puerto Rico – 0.3% (0.2% of Total Investments)
500		Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities		6/10 at 100.00		CCC+		481,765
		Financing Authority, Revenue Bonds, American Airlines Inc., Series 1985A, 6.450%, 12/01/25
125		Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series		6/08 at 100.00		CCC+		114,364
		1996A, 6.250%, 6/01/26 (Alternative Minimum Tax)
625		Total Puerto Rico						596,129
		South Carolina – 3.3% (2.9% of Total Investments)
4,000		Charleston, South Carolina, Tax Increment Revenue Bonds, Charleston Neck redevelopment		6/08 at 100.00		N/R		4,000,120
		Project, Series 2007, 7.500%, 6/01/09
3,488		Lancaster County, South Carolina, Special Assessment Bonds, Edgewater II Improvement District,		No Opt. Call		N/R		3,462,677
		Series 2007B, 7.700%, 11/01/17
7,488		Total South Carolina						7,462,797
		Tennessee – 2.1% (1.9% of Total Investments)
		Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding
		Bonds, Sumner Regional Health System Inc., Series 2007:
2,000		5.500%, 11/01/37		11/17 at 100.00		N/R		1,955,420
3,000		5.500%, 11/01/46		11/17 at 100.00		N/R		2,870,790
5,000		Total Tennessee						4,826,210
		Texas – 8.6% (7.5% of Total Investments)
10		Alliance Airport Authority, Texas, Special Facilities Revenue Bonds, American Airlines Inc.,		No Opt. Call		CCC+		9,898
		Series 1991, 7.000%, 12/01/11 (Alternative Minimum Tax)
415		Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric		No Opt. Call		Caa1		400,404
		Company, Series 2001C, 5.750%, 5/01/36 (Mandatory put 11/01/11) (Alternative Minimum Tax)
3,000		Danbury Higher Education Authority Inc., Texas, Golden Rule Charter School Revenue Bonds,		2/18 at 100.00		BB+		2,970,420
		Series 2008A, 6.500%, 8/15/38 (WI/DD, Settling 2/14/08)
1,330		La Vernia Higher Education Financing Corporation, Texas, Education Revenue Bonds, Amigos		2/16 at 100.00		N/R		1,318,655
		Por Vida Friends For Life Public Charter School, Series 2008, 6.375%, 2/15/37 (WI/DD,
		Settling 2/21/08)
4,000		Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Allied		4/12 at 100.00		B+		3,652,760
		Waste Industries, Inc., Series 2007A, 5.200%, 4/01/18 (Alternative Minimum Tax)
75		Sabine River Authority, Texas, Pollution Control Revenue Bonds, TXU Energy Company LLC		No Opt. Call		Caa1		72,362
		Project, Series 2001B, 5.750%, 5/01/30 (Mandatory put 11/01/11) (Alternative Minimum Tax)
385		Sabine River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric		No Opt. Call		Caa1		372,014
		Company, Series 2001A, 5.500%, 5/01/22 (Mandatory put 11/01/11)
3,000		Sabine River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Energy Company		8/13 at 101.00		Caa1		2,820,660
		LLC Project, Series 2003B, 6.150%, 8/01/22
2,875		Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Revenue Bonds,		2/17 at 100.00		AA–		2,746,545
		Texas Health Resources Project, Trust 1031, 12.343%, 2/15/36 (IF)
5,000		Texas Turnpike Authority, First Tier Revenue Bonds, Central Texas Turnpike System, Series		8/12 at 100.00		AAA		4,931,050
		2002A, 5.000%, 8/15/42 – AMBAC Insured
20,090		Total Texas						19,294,768
		Utah – 3.9% (3.5% of Total Investments)
1,750		Spanish Fork City, Utah, Charter School Revenue Bonds, American Leadership Academy, Series		11/16 at 100.00		N/R		1,637,230
		2006, 5.700%, 11/15/36
		Utah State Charter School Finance Authority, Noah Webster Academy Revenue Bonds, Series:
500		6.250%, 6/15/28		6/17 at 100.00		N/R		493,440
1,430		6.500%, 6/15/38		6/17 at 100.00		N/R		1,417,688
5,500		Utah State Charter School Finance Authority, Revenue Bonds, Summit Academy Project, Series		12/17 at 100.00		BBB–		5,359,420
		2007A, 5.800%, 6/15/38
9,180		Total Utah						8,907,778
		Washington – 5.3% (4.7% of Total Investments)
4,000		Kalispel Indian Tribe, Washington, Priority Distribution Bonds, Series 2008, 6.750%, 1/01/38		No Opt. Call		N/R		4,005,840
1,000		Klickitat County Public Hospital District 2, Washington, Hospital Revenue Bonds, Skyline		No Opt. Call		N/R		1,007,830
		Hospital, Series 2007, 6.500%, 12/01/38
7,000		Washington State Health Care Facilities Authority, Revenue Bonds, Northwest Hospital and		No Opt. Call		N/R		6,896,960
		Medical Center of Seattle, Series 2007, 5.700%, 12/01/32
12,000		Total Washington						11,910,630
		West Virginia – 0.3% (0.3% of Total Investments)
740		Ohio County Commission, West Virginia, Special District Excise Tax Revenue Bonds, Fort Henry		3/16 at 100.00		N/R		691,116
		Economic Development, Series 2006B, 5.625%, 3/01/36
		Wisconsin – 1.3% (1.1% of Total Investments)
500		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan		8/16 at 100.00		A–		355,720
		Health, Trust 2113, 12.868%, 8/15/34 (IF)
3,500		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan		8/16 at 100.00		A–		2,490,040
		Healthcare System, Series 2006, Trust 2187, 13.383%, 8/15/34 (IF)
4,000		Total Wisconsin						2,845,760
		Wyoming – 1.3% (1.1% of Total Investments)
3,000		Sweetwater County, Wyoming, Solid Waste Disposal Revenue Bonds, FMC Corporation, Series 2005,		12/15 at 100.00		BBB		2,868,360
		5.600%, 12/01/35 (Alternative Minimum Tax)
$      258,248		Total Long-Term Investments (cost $249,088,987) – 110.1%						248,177,964
		Short-Term Investments – 3.3% (2.9% of Total Investments)
$          7,500		North Carolina Capital Facilities Financing Agency, Solid Waste Disposal Revenue Bond, Duke				AAA		7,488,750
		Energy Carolinas Project, Variable Rate Demand Obligations, Series 2007A, 6.500%, 11/01/40 –
		AMBAC Insured (Alternative Minimum Tax) (4)
		Total Short-Term Investments (cost $7,496,250)						7,488,750
		Total Investments (cost $256,585,237) – 113.4%						255,666,714
		Other Assets Less Liabilities – (13.4)%						(30,210,566)
		Net Assets – 100%					$	225,456,148

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(1)		All percentages shown in the Portfolio of Investments are based on net assets 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 AAA ratings shown in the Portfolio of Investments reflect the AAA ratings on certain bonds that may be
		insured by AMBAC, FGIC, XLCA or MBIA as of January 31, 2008. Subsequent to January 31, 2008, at least
		one rating agency reduced the rating for AMBAC-insured bonds to AA and XLCA-insured and FGIC-insured
		bonds experienced further downgrades such that they no longer carry AAA ratings which had the effect
		of reducing the rating of many (if not all) of the bonds insured by those particular insurers. One or more
		rating agencies have placed each of these insurers on “negative credit watch”, which may presage one
		or more rating reductions for such insurer or insurers in the future. If one or more insurers’ ratings are
		reduced below AAA by these rating agencies, it would likely reduce the effective rating of many of the
		bonds insured by that insurer or insurers.
(4)		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.
N/R		Not rated.
WI/DD		Purchased on a when-issued or delayed delivery basis.
(IF)		Inverse floating rate investment.

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 the treatment of paydown gains and losses, 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 transactions subject to SFAS No.140. 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, 2008, the cost of investments was $256,567,420.

Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2008, were as follows:

Gross unrealized:
Appreciation		$ 1,588,092
Depreciation		(2,488,798)
Net unrealized appreciation (depreciation) of investments		$  (900,706)

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Item 2. Controls and Procedures.

1. 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)).
2. 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 Municipal High Income Opportunity Fund 2         

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

Date          March 31, 2008        

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          March 31, 2008        

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

Date         March 31, 2008        

* Print the name and title of each signing officer under his or her signature.