Nuveen AMT-Free Quality Municipal Income Fund

Regulatory Filings • Mar 31, 2006

N-Q 1 nq1.htm NEA Form 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 811-21213

Nuveen Insured Tax-Free Advantage Municipal Fund (Exact name of registrant as specified in charter)

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

Jessica R. Droeger—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: 1/31/06

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, 2006

Principal		Optional — Call
Amount (000)	Description (1)	Provisions (2)	Ratings (3)	Value
	Alabama – 8.3% (5.5% of Total
Investments)
$ 5,655	Colbert County-Northwest Health Care Authority,
Alabama, Revenue Bonds, Helen Keller Hospital,	6/13 at
101.00	Baa3	$ 5,810,739
	Series 2003, 5.750%, 6/01/27
3,100	Huntsville Healthcare Authority, Alabama, Revenue
Bonds, Series 1998A, 5.400%, 6/01/22 – MBIA	5/12 at
102.00	AAA	3,374,753
	Insured
6,280	Jefferson County, Alabama, Sewer Revenue Capital
Improvement Warrants, Series 2002D, 5.000%,	8/12 at
100.00	AAA	6,786,294
	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	AAA	1,847,930
4,500	Sheffield, Alabama, Electric Revenue Bonds, Series
2003, 5.500%, 7/01/29 – AMBAC Insured	7/13 at
100.00	Aaa	4,898,520
21,285	Total Alabama			22,718,236
	Arizona – 3.8% (2.5% of Total
Investments)
10,000	Maricopa County Pollution Control Corporation,
Arizona, Revenue Bonds, Arizona Public Service	11/12 at
100.00	AAA	10,335,800
	Company – Palo Verde Project, Series 2002A, 5.050%,
5/01/29 – AMBAC Insured
	California – 29.0% (19.2% of Total
Investments)
26,300	California State Public Works Board, Lease Revenue
Bonds, Department of General Services,	12/12 at
100.00	AAA	27,197,619
	Capital East End Project, Series 2002A, 5.000%,
12/01/27 – AMBAC Insured
7,500	California, General Obligation Bonds, Series 2004,
5.000%, 4/01/31 – AMBAC Insured	4/14 at
100.00	AAA	7,771,650
13,500	California, General Obligation Refunding Bonds,
Series 2002, 5.250%, 4/01/30 – XLCA Insured	4/12 at
100.00	AAA	14,317,965
2,910	Cathedral City Public Financing Authority,
California, Tax Allocation Bonds, Housing	8/12 at
102.00	AAA	3,033,762
	Set-Aside, Series 2002D, 5.000%, 8/01/26 – MBIA
Insured
2,500	Irvine Public Facilities and Infrastructure
Authority, California, Assessment Revenue Bonds,	3/06 at
103.00	AAA	2,575,600
	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	AAA	4,156,560
	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	AAA	1,224,773
1,255	5.250%, 6/01/21 – AMBAC Insured	6/13 at
101.00	AAA	1,353,618
1,210	Redding Joint Powers Financing Authority,
California, Lease Revenue Bonds, Capital Improvement	3/13 at
100.00	AAA	1,255,206
	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	AAA	3,903,938
	5.000%, 8/15/28 – MBIA Insured
1,500	San Diego Community College District, California,
General Obligation Bonds, Series 2003A,	5/13 at
100.00	AAA	1,559,505
	5.000%, 5/01/28 – FSA Insured
3,000	San Jose Redevelopment Agency, California, Tax
Allocation Bonds, Merged Area Redevelopment	8/10 at
101.00	AAA	3,067,080
	Project, Series 2002, 5.000%, 8/01/32 – MBIA
Insured
1,055	Turlock Irrigation District, California,
Certificates of Participation, Series 2003A, 5.000%,	1/13 at
100.00	AAA	1,088,865
	1/01/28 – MBIA Insured
6,300	University of California, Revenue Bonds,
Multi-Purpose Projects, Series 2003A, 5.000%, 5/15/33 –	5/13 at
100.00	AAA	6,499,395
	AMBAC Insured
75,910	Total California			79,005,536
	Colorado – 3.8% (2.5% of Total
Investments)
	Bowles Metropolitan District, Colorado, General
Obligation Bonds, Series 2003:
4,300	5.500%, 12/01/23 – FSA Insured	12/13 at
100.00	AAA	4,736,837
3,750	5.500%, 12/01/28 – FSA Insured	12/13 at
100.00	AAA	4,114,800
1,450	Colorado Educational and Cultural Facilities
Authority, Charter School Revenue Bonds,	8/14 at
100.00	AAA	1,542,757
	Peak-to-Peak Charter School, Series 2004, 5.250%,
8/15/24 – XLCA Insured
9,500	Total Colorado			10,394,394
	Florida – 1.2% (0.8% of Total
Investments)
3,000	Pinellas County Health Facilities Authority,
Florida, Revenue Bonds, Baycare Health System,	5/13 at
100.00	A1	3,170,130
	Series 2003, 5.500%, 11/15/27
	Georgia – 1.5% (1.0% of Total
Investments)
3,825	Metropolitan Atlanta Rapid Transit Authority,
Georgia, Sales Tax Revenue Bonds, Second	1/13 at
100.00	AAA	3,957,001
	Indenture Series 2002, 5.000%, 7/01/32 – MBIA
Insured
	Illinois – 3.8% (2.5% of Total
Investments)
905	Cook County School District 100, Berwyn South,
Illinois, General Obligation Refunding Bonds,	12/13 at
100.00	Aaa	997,328
	Series 2003B, 5.250%, 12/01/21 (Pre-refunded
12/01/13) – FSA Insured
	Cook County School District 145, Arbor Park,
Illinois, General Obligation Bonds, Series 2004:
3,285	5.125%, 12/01/20 – FSA Insured	12/14 at
100.00	Aaa	3,521,421
2,940	5.125%, 12/01/23 – FSA Insured	12/14 at
100.00	Aaa	3,124,955
2,500	Illinois Health Facilities Authority, Revenue Bonds,
Lake Forest Hospital, Series 2003,	7/13 at
100.00	A–	2,585,950
	5.250%, 7/01/23
9,630	Total Illinois			10,229,654
	Indiana – 8.8% (5.8% of Total
Investments)
2,500	Evansville, Indiana, Sewerage Works Revenue
Refunding Bonds, Series 2003A, 5.000%, 7/01/23 –	7/13 at
100.00	AAA	2,622,025
	AMBAC Insured
2,190	Indiana Bond Bank, Advance Purchase Funding Bonds,
Common School Fund, Series 2003B, 5.000%,	8/13 at
100.00	AAA	2,306,771
	8/01/19 – MBIA Insured
1,000	Indiana University, Student Fee Revenue Bonds,
Series 2003O, 5.000%, 8/01/22 – FGIC Insured	8/13 at
100.00	AAA	1,049,700
	IPS Multi-School Building Corporation, Indiana,
First Mortgage Revenue Bonds, Series 2003:
11,020	5.000%, 7/15/19 – MBIA Insured	7/13 at
100.00	AAA	11,673,927
6,000	5.000%, 7/15/20 – MBIA Insured	7/13 at
100.00	AAA	6,332,700
22,710	Total Indiana			23,985,123
	Kansas – 2.4% (1.6% of Total
Investments)
6,250	Kansas Development Finance Authority, Board of
Regents, Revenue Bonds, Scientific Research and	4/13 at
102.00	AAA	6,623,125
	Development Facilities Projects, Series 2003C,
5.000%, 10/01/22 – AMBAC Insured
	Kentucky – 0.5% (0.3% of Total
Investments)
	Kentucky State Property and Buildings Commission,
Revenue Refunding Bonds, Project 77, Series
	2003:
340	5.000%, 8/01/23 (Pre-refunded 8/01/13) – MBIA
Insured	8/13 at
100.00	AAA	367,907
985	5.000%, 8/01/23 (Pre-refunded 8/01/13) – MBIA
Insured	8/13 at
100.00	AAA	1,065,849
1,325	Total Kentucky			1,433,756
	Louisiana – 2.2% (1.5% of Total
Investments)
5,785	New Orleans, Louisiana, General Obligation Refunding
Bonds, Series 2002, 5.300%, 12/01/27 –	12/12 at
100.00	AAA	6,080,324
	FGIC Insured
	Massachusetts – 5.1% (3.4% of Total
Investments)
9,000	Massachusetts Bay Transportation Authority, Senior
Sales Tax Revenue Refunding Bonds, Series	7/12 at
100.00	AAA	9,718,560
	2002A, 5.000%, 7/01/27 (Pre-refunded 7/01/12) – FGIC
Insured
1,125	Massachusetts Development Finance Authority, Revenue
Bonds, Middlesex School, Series 2003,	9/13 at
100.00	A1	1,177,065
	5.125%, 9/01/23
3,000	Massachusetts Turnpike Authority, Metropolitan
Highway System Revenue Bonds, Senior Series	1/07 at
102.00	AAA	3,045,780
	1997A, 5.000%, 1/01/37 – MBIA Insured
13,125	Total Massachusetts			13,941,405
	Michigan – 11.6% (7.7% of Total
Investments)
6,130	Detroit, Michigan, Senior Lien Water Supply System
Revenue Bonds, Series 2003A, 5.000%,	7/13 at
100.00	AAA	6,459,488
	7/01/23 – MBIA Insured
4,465	Detroit, Michigan, Senior Lien Water Supply System
Revenue Refunding Bonds, Series 2003C,	7/13 at
100.00	AAA	4,706,467
	5.000%, 7/01/22 – MBIA Insured
10,800	Michigan Strategic Fund, Limited Obligation Resource
Recovery Revenue Refunding Bonds, Detroit	12/12 at
100.00	AAA	11,261,376
	Edison Company, Series 2002D, 5.250%, 12/15/32 –
XLCA Insured
2,250	Romulus Community Schools, Wayne County, Michigan,
General Obligation Refunding Bonds, Series	5/11 at
100.00	AA	2,387,655
	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	AAA	6,733,480
	Metropolitan Wayne County Airport, Series 2001A,
5.000%, 12/01/30 – MBIA Insured
30,145	Total Michigan			31,548,466
	Missouri – 1.1% (0.7% of Total
Investments)
	Clay County Public School District 53, Liberty,
Missouri, General Obligation Bonds, Series 2004:
1,325	5.250%, 3/01/23 – FSA Insured	3/14 at
100.00	AAA	1,444,502
1,500	5.250%, 3/01/24 – FSA Insured	3/14 at
100.00	AAA	1,632,465
2,825	Total Missouri			3,076,967
	Nebraska – 1.9% (1.3% of Total
Investments)
5,000	Lincoln, Nebraska, Sanitary Sewerage System Revenue
Refunding Bonds, Series 2003, 5.000%,	6/13 at
100.00	AAA	5,198,050
	6/15/28 – MBIA Insured
	Nevada – 0.9% (0.6% of Total
Investments)
2,315	Clark County, Nevada, Subordinate Lien Airport
Revenue Bonds, Series 2001B, 5.200%, 7/01/31	7/11 at
100.00	AAA	2,503,441
	(Pre-refunded 7/01/11) – FGIC Insured
	New Mexico – 0.8% (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	AAA	2,100,729
	New York – 10.2% (6.8% of Total
Investments)
25,000	Metropolitan Transportation Authority, New York,
Transportation Revenue Refunding Bonds,	11/12 at
100.00	AAA	25,848,250
	Series 2002F, 5.000%, 11/15/31 – MBIA
Insured
1,850	New York State Urban Development Corporation,
Service Contract Revenue Bonds, Series 2005B,	3/15 at
100.00	AAA	1,951,787
	5.000%, 3/15/25 – FSA Insured
26,850	Total New York			27,800,037
	North Carolina – 3.3% (2.2% of Total
Investments)
8,700	North Carolina Medical Care Commission, Revenue
Bonds, Maria Parham Medical Center, Series	10/13 at
100.00	AA	9,102,288
	2003, 5.375%, 10/01/33 – RAAI Insured
	Oklahoma – 0.5% (0.2% of Total
Investments)
1,000	Oklahoma Capitol Improvement Authority, State
Facilities Revenue Bonds, Series 2005F, 5.000%,	7/15 at
100.00	AAA	1,057,270
	7/01/24 – AMBAC Insured
	Oregon – 3.6% (2.4% of Total
Investments)
9,350	Oregon Health Sciences University, Revenue Bonds,
Series 2002A, 5.000%, 7/01/32 – MBIA Insured	1/13 at
100.00	AAA	9,678,279
	Pennsylvania – 8.7% (5.8% of Total
Investments)
3,000	Lehigh County General Purpose Authority,
Pennsylvania, Hospital Revenue Bonds, St. Luke’s	8/13 at
100.00	Baa1	3,091,710
	Hospital of Bethlehem, Series 2003, 5.375%,
8/15/33
2,000	Philadelphia Gas Works, Pennsylvania, Revenue Bonds,
General Ordinance, Fourth Series 1998,	8/13 at
100.00	AAA	2,063,700
	5.000%, 8/01/32 – FSA Insured
925	Philadelphia, Pennsylvania, Water and Wastewater
Revenue Bonds, Series 1997A, 5.125%, 8/01/27 –	8/07 at
102.00	AAA	954,896
	(ETM) AMBAC Insured
4,075	Philadelphia, Pennsylvania, Water and Wastewater
Revenue Bonds, Series 1997A, 5.125%, 8/01/27 –	8/07 at
102.00	AAA	4,234,088
	AMBAC Insured
13,000	State Public School Building Authority,
Pennsylvania, Lease Revenue Bonds, Philadelphia School	6/13 at
100.00	AAA	13,413,660
	District, Series 2003, 5.000%, 6/01/33 – FSA
Insured
23,000	Total Pennsylvania			23,758,054
	South Carolina – 7.4% (4.9% of Total
Investments)
5,000	Florence County, South Carolina, Hospital Revenue
Bonds, McLeod Regional Medical Center,	11/14 at
100.00	AAA	5,361,850
	Series 2004A, 5.250%, 11/01/23 – FSA
Insured
	Greenville County School District, South Carolina,
Installment Purchase Revenue Bonds, Series 2003:
3,000	5.000%, 12/01/22	12/13 at
100.00	AA-	3,109,950
1,785	5.000%, 12/01/23	12/13 at
100.00	AA-	1,846,832
1,365	Myrtle Beach, South Carolina, Water and Sewerage
System Revenue Refunding Bonds, Series 2003,	3/13 at
100.00	AAA	1,488,956
	5.375%, 3/01/19 – FGIC Insured
8,000	South Carolina Transportation Infrastructure Bank,
Revenue Bonds, Series 2002A, 5.000%,	10/12 at
100.00	Aaa	8,243,920
	10/01/33 – AMBAC Insured
19,150	Total South Carolina			20,051,508
	Texas – 13.0% (8.6% of Total
Investments)
7,975	Fort Bend Independent School District, Fort Bend
County, Texas, General Obligation Bonds,	8/10 at
100.00	AAA	8,283,074
	Series 2000, 5.000%, 8/15/25
12,500	Grand Prairie Independent School District, Dallas
County, Texas, General Obligation Bonds,	2/13 at
100.00	AAA	12,966,625
	Series 2003, 5.125%, 2/15/31 – FSA
Insured
2,000	Houston, Texas, First Lien Combined Utility System
Revenue Bonds, Series 2004A, 5.250%,	5/14 at
100.00	AAA	2,136,200
	5/15/25 – MBIA Insured
5,515	Houston, Texas, General Obligation Refunding Bonds,
Series 2002, 5.250%, 3/01/20 – MBIA Insured	3/12 at
100.00	AAA	5,916,106
5,850	Katy Independent School District, Harris, Fort Bend
and Waller Counties, Texas, General	2/12 at
100.00	AAA	6,227,325
	Obligation Bonds, Series 2002A, 5.125%,
2/15/18
33,840	Total Texas			35,529,330
	Virginia – 0.6% (0.4% of Total
Investments)
1,500	Hampton, Virginia, Revenue Bonds, Convention Center
Project, Series 2002, 5.125%, 1/15/28 –	1/13 at
100.00	AAA	1,566,345
	AMBAC Insured
	Washington – 9.2% (6.1% of Total
Investments)
4,945	Broadway Office Properties, King County, Washington,
Lease Revenue Bonds, Washington Project,	12/12 at
100.00	AAA	5,084,350
	Series 2002, 5.000%, 12/01/31 – MBIA
Insured
5,250	Chelan County Public Utility District 1, Washington,
Hydro Consolidated System Revenue Bonds,	7/12 at
100.00	AAA	5,419,103
	Series 2002C, 5.125%, 7/01/33 – AMBAC
Insured
2,135	Kitsap County Consolidated Housing Authority,
Washington, Revenue Bonds, Bremerton Government	7/13 at
100.00	Aaa	2,225,524
	Center, Series 2003, 5.000%, 7/01/23 – MBIA
Insured
1,935	Pierce County School District 343, Dieringer,
Washington, General Obligation Refunding Bonds,	6/13 at
100.00	Aaa	2,095,624
	Series 2003, 5.250%, 12/01/17 – FGIC
Insured
9,670	Washington, General Obligation Bonds, Series 2003D,
5.000%, 12/01/21 – MBIA Insured	6/13 at
100.00	AAA	10,168,972
23,935	Total Washington			24,993,573
	West Virginia – 1.2% (0.8% of Total
Investments)
3,000	West Virginia State Building Commission, Lease
Revenue Refunding Bonds, Regional Jail and	No Opt.
Call	AAA	3,380,550
	Corrections Facility, Series 1998A, 5.375%, 7/01/21
– AMBAC Insured
	Wisconsin – 6.7% (4.4% of Total
Investments)
1,190	Sun Prairie Area School District, Dane County,
Wisconsin, General Obligation Bonds, Series	3/14 at
100.00	Aaa	1,274,431
	2004C, 5.250%, 3/01/24 – FSA Insured
4,605	Wisconsin Health and Educational Facilities
Authority, Revenue Bonds, Franciscan Sisters of	9/13 at
100.00	A–	4,902,805
	Christian Charity Healthcare Ministry, Series 2003A,
5.875%, 9/01/33
3,000	Wisconsin Health and Educational Facilities
Authority, Revenue Bonds, Meriter Hospital Inc.,	No Opt.
Call	AAA	3,446,910
	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	A	3,662,964
	Services Inc., Series 2003A, 5.125%,
8/15/33
4,750	Wisconsin Health and Educational Facilities
Authority, Revenue Refunding Bonds, Wausau	8/08 at
102.00	AAA	4,998,470
	Hospital Inc., Series 1998A, 5.125%, 8/15/20 – AMBAC
Insured
17,145	Total Wisconsin			18,285,580
$ 392,075	Total Investments (cost $393,026,527) –
151.1%			411,504,951
	Other Assets Less Liabilities – 1.8%			4,788,214
	Preferred Shares, at Liquidation Value –
(52.9)%			(144,000,000)
	Net Assets Applicable to Common Shares –
100%			$ 272,293,165

Forward Swaps outstanding at January 31, 2006:

		Fixed Rate — Paid	Fixed Rate	Floating Rate — Received	Floating Rate			Unrealized
	Notional	by
the Fund	Payment	by
the Fund	Payment	Effective	Terminiation	Appreciation
Counterparty	Amount	(annualized)	Frequency	Based On	Frequency	Date (4)	Date	(Depreciation)
Citigroup	$
13,500,000	4.652%	Semi-Annually	3 Month
USD-LIBOR	Quarterly	2/22/06	2/22/26	$
826,170
Citigroup	3,000,000	4.699	Semi-Annually	3 Month
USD-LIBOR	Quarterly	2/27/06	2/27/26	166,093
JPMorgan	9,000,000	5.075	Semi-Annually	3 Month
USD-LIBOR	Quarterly	2/22/06	2/22/06	77,172
								$1,069,435

USD-LIBOR (United States Dollar–London Inter–Bank Offered Rates)

| | At least 80% of the Fund’s net assets (including net
assets attributable to Preferred shares) are invested |
| --- | --- |
| | in municipal securities that are either covered by
Original Issue Insurance, Secondary Market Insurance |
| | or Portfolio Insurance which ensures the timely
payment of principal and interest. Up to 20% of the Fund’s |
| | net assets (including net assets attributable to
Preferred shares) may be invested in municipal securities |
| | that are (i) either backed by an escrow or trust
containing sufficient U.S. Government or U.S. Government |
| | agency securities (also ensuring the timely payment
of principal and interest), or (ii) rated, at the time of |
| | investment, within the four highest grades (Baa or
BBB or better by Moody’s, S&P or Fitch) or unrated but |
| | judged to be of comparable quality by the
Adviser. |
| (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
or Moody’s rating. Ratings below Baa by Moody's Investor |
| | Service, Inc. or BBB by Standard & Poor's Group
are considered to be below investment grade. |
| (4) | Effective date represents that date on which both
the Fund and counterparty commence interest payment |
| | accruals on each forward swap contract. |
| (ETM) | Security is escrowed to maturity. |

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 and timing differences in recognizing certain gains and losses on investment transactions.

At January 31, 2006, the cost of investments was $397,033,266.

Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2006, were as follows:

| Gross
unrealized: | |
| --- | --- |
| Appreciation | $18,507,819 |
| Depreciation | (4,036,134) |
| Net unrealized appreciation (depreciation) of
investments | $14,471,685 |

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 Insured Tax-Free Advantage Municipal Fund

By (Signature and Title)* /s/ Jessica R. Droeger Jessica R. Droeger Vice President and Secretary

Date March 31, 2006

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, 2006

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

Date March 31, 2006

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