Edgar Filing: NASDAQ Premium Income & Growth Fund Inc.

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 811-21983

	NASDAQ Premium Income & Growth Fund Inc.
(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:		12/31
Date of reporting period:			9/30/2012

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)
		NASDAQ Premium Income & Growth Fund Inc. (QQQX)
		September 30, 2012

Shares		Description (1)																			Value
		Common Stocks – 101.9%
		Aerospace & Defense – 0.6%
8,234		General Dynamics Corporation																			$ 544,432
2,843		Lockheed Martin Corporation																			265,479
2,019		Precision Castparts Corporation																			329,783
8,828		United Technologies Corporation																			691,144
		Total Aerospace & Defense																			1,830,838
		Air Freight & Logistics – 0.3%
2,768		FedEx Corporation																			234,228
8,274		United Parcel Service, Inc., Class B																			592,170
4,069		UTI Worldwide, Inc.																			54,809
		Total Air Freight & Logistics																			881,207
		Airlines – 0.1%
6,915		Ryanair Holdings PLC																			223,009
		Auto Components – 0.2%
1,406		Autoliv Inc.																			87,130
1,182		BorgWarner Inc., (2)																			81,688
10,993		Gentex Corporation																			186,991
1,182		Johnson Controls, Inc.																			32,387
4,227		Lear Corporation																			159,738
		Total Auto Components																			547,934
		Automobiles – 0.0%
1,370		Tesla Motors Inc.																			40,114
2,084		Thor Industries, Inc.																			75,691
		Total Automobiles																			115,805
		Beverages – 0.1%
4,447		Brown-Forman Corporation																			290,167
1,705		PepsiCo, Inc.																			120,663
		Total Beverages																			410,830
		Biotechnology – 6.5%
14,421		Alkermes Inc., (2)																			299,236
11,732		BioMarin Pharmaceutical Inc.																			472,448
65,433		Celgene Corporation, (2)																			4,999,081
9,456		Cubist Pharmaceuticals Inc.																			450,862
3,182		Dendreon Corporation, (2)																			15,369
2,256		Emergent BioSolutions, Inc., (2)																			32,058
3,162		Enzon Inc.																			22,008
2,955		Exelixis, Inc., (2)																			14,243
3,743		Genomic Health, Inc., (2)																			129,845
24,340		Geron Corporation																			41,378
120,884		Gilead Sciences, Inc., (2)																			8,018,236
14,073		Grifols SA																			321,287
5,317		Halozyme Therapeutics, Inc., (2)																			40,197
6,049		Immunogen, Inc., (2)																			88,315
9,571		Incyte Pharmaceuticals Inc., (2)																			172,757
872		Intermune, Inc., (2)																			7,822
10,136		ISIS Pharmaceuticals, Inc.																			142,614
36,642		Lexicon Genetics, Inc.																			85,009
7,053		MannKind Corporation, (2)																			20,313
12,904		Myriad Genentics Inc., (2)																			348,279
5,158		Onyx Pharmaceuticals Inc.																			435,851
4,703		Opko Health Inc., (2)																			19,659
5,683		Regeneron Pharmaceuticals, Inc., (2)																			867,567
12,177		Seattle Genetics, Inc.																			328,170
3,054		Theravance Inc., (2)																			79,129
6,117		United Therapeutics Corporation, (2)																			341,818
25,630		Vertex Pharmaceuticals Inc., (2)																			1,433,999
		Total Biotechnology																			19,227,550
		Capital Markets – 0.3%
409		Affiliated Managers Group Inc., (2)																			50,307
1,498		Franklin Resources, Inc.																			187,355
11,627		SEI Investments Company																			249,399
5,883		T. Rowe Price Group Inc.																			372,394
5,152		TD Ameritrade Holding Corporation																			79,186
		Total Capital Markets																			938,641
		Chemicals – 0.4%
2,138		Air Products & Chemicals Inc.																			176,813
5,970		Ecolab Inc.																			386,916
7,810		Methanex Corporation																			222,897
1,163		Monsanto Company																			105,856
3,448		Praxair, Inc.																			358,178
		Total Chemicals																			1,250,660
		Commercial Services & Supplies – 0.6%
3,842		Cintas Corporation																			159,251
5,162		Copart Inc., (2)																			143,142
2,670		Iron Mountain Inc.																			91,074
7,605		KAR Auction Services Inc.																			150,123
1,951		Republic Services, Inc.																			53,672
3,753		Rollins Inc.																			87,783
15,000		Tetra Tech, Inc., (2)																			393,900
1,389		Tyco International Ltd.																			78,145
3,738		United Stationers, Inc.																			97,263
4,788		Waste Connections Inc.																			144,837
9,417		Waste Management, Inc.																			302,097
		Total Commercial Services & Supplies																			1,701,287
		Communications Equipment – 7.8%
1,419		ADTRAN, Inc.																			24,520
2,808		Arris Group Inc., (2)																			35,914
604,206		Cisco Systems, Inc.																			11,534,293
21,858		LM Ericsson Telefonaktiebolget, Sponsored ADR																			199,564
184,022		QUALCOMM, Inc.																			11,499,535
10,352		Tellabs Inc.																			36,646
		Total Communications Equipment																			23,330,472
		Computers & Peripherals – 22.4%
94,500		Apple, Inc., (3)																			63,056,070
216,218		Dell Inc., (2)																			2,131,909
8,806		EMC Corporation, (2)																			240,140
10,243		Hewlett-Packard Company																			174,746
4,837		Logitech International SA																			44,259
24,822		SanDisk Corporation, (2)																			1,078,019
		Total Computers & Peripherals																			66,725,143
		Containers & Packaging – 0.1%
3,876		Silgan Holdings, Inc.																			168,645
		Distributors – 0.3%
40,470		LKQ Corporation, (2)																			748,695
		Diversified Consumer Services – 0.1%
5,783		Career Education Corporation, (2)																			21,802
3,940		Education Management Corporation, (2)																			12,253
1,285		Strayer Education Inc.																			82,690
1,212		Weight Watcher’s International Inc.																			63,994
		Total Diversified Consumer Services																			180,739
		Diversified Financial Services – 0.1%
1,389		Moody’s Corporation																			61,352
3,537		MSCI Inc., Class A Shares, (2)																			126,589
		Total Diversified Financial Services																			187,941
		Diversified Telecommunication Services – 0.3%
11,623		AT&T Inc.																			438,187
12,086		Verizon Communications Inc.																			550,759
4,072		Windstream Corporation																			41,168
		Total Diversified Telecommunication Services																			1,030,114
		Electronic Equipment & Instruments – 0.3%
995		Amphenol Corporation, Class A																			58,586
3,675		Arrow Electronics, Inc., (2)																			123,884
5,960		Avnet Inc., (2)																			173,376
13,756		National Instruments Corporation																			346,239
1,870		Plexus Corporation																			56,642
		Total Electronic Equipment & Instruments																			758,727
		Food & Staples Retailing – 0.6%
2,453		Casey’s General Stores, Inc.																			140,164
5,132		CVS Caremark Corporation																			248,491
1,862		Fresh Market Inc.																			111,683
20,370		Kroger Co.																			479,510
1,050		PriceSmart, Inc.																			79,506
14,549		Safeway Inc.																			234,093
14,234		Walgreen Co.																			518,687
1,360		Weis Markets Inc.																			57,569
		Total Food & Staples Retailing																			1,869,703
		Health Care Equipment & Supplies – 0.7%
4,453		Baxter International, Inc.																			268,338
2,926		Becton, Dickinson and Company																			229,867
7,605		Boston Scientific Corporation, (2)																			43,653
1,655		C. R. Bard, Inc.																			173,196
6,787		Covidien PLC																			403,284
1,123		Idexx Labs Inc., (2)																			111,570
9,210		Medtronic, Inc.																			397,135
2,552		Saint Jude Medical Inc.																			107,516
3,714		Stryker Corporation																			206,721
1,202		Varian Medical Systems, Inc., (2)																			72,505
2,561		Zimmer Holdings, Inc.																			173,175
		Total Health Care Equipment & Supplies																			2,186,960
		Health Care Providers & Services – 1.8%
7,890		AmerisourceBergen Corporation																			305,422
7,457		Cardinal Health, Inc.																			290,599
1,584		Catamaran Corporation																			155,184
63,658		Express Scripts, Inc., (2)																			3,989,447
5,773		McKesson HBOC Inc.																			496,651
1,606		Patterson Companies, Inc.																			54,989
		Total Health Care Providers & Services																			5,292,292
		Health Care Technology – 0.1%
8,481		Allscripts Healthcare Solutions Inc., (2)																			105,419
13,136		Quality Systems Inc.																			243,673
		Total Health Care Technology																			349,092
		Hotels, Restaurants & Leisure – 1.2%
3,330		Cheesecake Factory Inc.																			119,048
2,690		Darden Restaurants, Inc.																			149,968
13,940		McDonald’s Corporation																			1,278,995
1,773		Panera Bread Company, (2)																			302,988
13,593		Wynn Resorts Ltd																			1,569,176
		Total Hotels, Restaurants & Leisure																			3,420,175
		Household Durables – 0.0%
100		NVR Inc., (2)																			84,450
		Household Products – 0.1%
985		Colgate-Palmolive Company																			105,612
3,724		Procter & Gamble Company																			258,297
		Total Household Products																			363,909
		Industrial Conglomerates – 0.1%
1,793		3M Co.																			165,709
3,005		Danaher Corporation																			165,726
		Total Industrial Conglomerates																			331,435
		Insurance – 0.0%
5,268		CNA Financial Corporation																			141,182
		Internet & Catalog Retail – 5.7%
50,848		Amazon.com, Inc., (2)																			12,931,663
1,604		Hosting Site Network, Inc.																			78,676
1,547		MakeMyTrip Limited																			26,345
6,208		Priceline.com Incorporated, (2)																			3,841,076
		Total Internet & Catalog Retail																			16,877,760
		Internet Software & Services – 11.6%
31,371		Baidu.com, Inc., Sponsored ADR, (2)																			3,664,760
1,468		Digital River, Inc., (2)																			24,457
147,828		eBay Inc., (2)																			7,156,353
28,325		Google Inc., Class A, (2)																			21,371,213
11,128		IAC/InterActiveCorp.																			579,324
4,807		J2 Global Inc.																			157,766
1,436		Mercadolibre, Inc.																			118,542
7,516		Netease.com, Inc., (2)																			421,948
4,376		NIC, Incorporated, (2)																			64,765
5,556		Open Text Corporation																			306,358
1,782		Rackspace Hosting Inc., (2)																			117,772
1,733		Sina Corporation																			112,090
2,032		Sohu.com Inc.																			85,527
8,335		ValueClick, Inc., (2)																			143,279
5,270		WebMD Health Corporation, Class A, (2)																			73,938
		Total Internet Software & Services																			34,398,092
		IT Services – 1.9%
4,453		Acxiom Corporation																			81,356
27,590		Amdocs Limited																			910,194
10,704		Computer Sciences Corporation																			344,776
5,989		CSG Systems International Inc., (2), (3)																			134,693
1,114		Gartner Inc.																			51,344
19,208		Genpact Limited																			320,389
1,448		Global Payments Inc.																			60,570
19,648		Henry Jack and Associates Inc.																			744,659
9,723		International Business Machines Corporation (IBM)																			2,017,036
8,650		ManTech International Corporation, Class A																			207,600
3,931		NeuStar, Inc., (2)																			157,358
20,035		SAIC, Inc.																			241,221
6,846		Sapient Corporation																			72,978
2,118		Teradata Corporation, (2)																			159,718
8,580		Total System Services Inc.																			203,346
		Total IT Services																			5,707,238
		Life Sciences Tools & Services – 0.7%
4,788		Charles River Laboratories International, Inc., (2)																			189,605
14,460		ICON plc																			352,390
5,980		Luminex Corporation, (2)																			116,251
20,567		Techne Corporation																			1,479,590
1,133		Thermo Fisher Scientific, Inc.																			66,654
		Total Life Sciences Tools & Services																			2,204,490
		Machinery – 0.4%
2,571		AGCO Corporation, (2)																			122,071
4,955		CNH Global N.V.																			192,105
1,251		Deere & Company																			103,195
4,297		Eaton Corporation																			203,076
7,181		Makita Corporation, ADR																			277,833
3,641		Nordson Corporation																			213,435
2,114		WABCO Holdings Inc., (2)																			121,914
1,585		Woodward Governor Company																			53,858
		Total Machinery																			1,287,487
		Marine – 0.0%
985		Kirby Corporation																			54,451
		Media – 5.6%
225,171		Comcast Corporation, Class A																			8,054,367
3,044		Comcast Corporation, Special Class A																			105,931
1,123		Discovery Communications inc., Class A Shares, (2)																			66,964
1,399		Dreamworks Animation SKG Inc., (2)																			26,903
6,138		Focus Media Holding, Limited, (2)																			143,629
2,045		Lamar Advertising Company, (2)																			75,788
616		Liberty Media Corporation, Liberty Capital Class A Tracking Stock, (2)																			64,169
205,331		News Corporation, Class A																			5,036,769
23,585		News Corporation, Class B																			584,908
11,375		Omnicom Group, Inc.																			586,495
2,345		Scripps Networks Interactive, Class A Shares																			143,584
25,207		Thomson Corporation																			727,474
9,988		Walt Disney Company																			522,173
6,836		WPP Group PLC																			465,737
		Total Media																			16,604,891
		Metals & Mining – 0.1%
1,901		Rangold Resources Limited																			233,823
		Multiline Retail – 1.0%
2,039		Big Lots, Inc., (2)																			60,314
7,979		Dollar General Corporation, (2)																			411,238
5,152		Family Dollar Stores, Inc.																			341,578
4,059		J.C. Penney Company, Inc., (2)																			98,593
11,978		Kohl’s Corporation																			613,513
10,757		Macy’s, Inc.																			404,678
2,818		Nordstrom, Inc.																			155,497
11,919		Target Corporation																			756,499
		Total Multiline Retail																			2,841,910
		Office Electronics – 0.1%
29,579		Xerox Corporation																			217,110
1,872		Zebra Technologies Corporation, Class A, (2)																			70,275
		Total Office Electronics																			287,385
		Personal Products – 0.0%
1,862		Herbalife, Limited																			88,259
		Pharmaceuticals – 1.9%
11,141		Abbott Laboratories																			763,827
4,275		Allergan, Inc.																			391,505
3,606		Bristol-Myers Squibb Company																			121,703
16,076		Eli Lilly and Company																			762,163
8,946		Endo Pharmaceuticals Holdings Inc., (2)																			283,767
12,362		Forest Laboratories, Inc., (2)																			440,211
966		Hospira Inc., (2)																			31,704
9,693		Johnson & Johnson																			667,945
13,525		Merck & Company Inc.																			609,978
3,555		Optimer Pharmaceuticals, Inc., (2)																			50,197
24,094		Pfizer Inc.																			598,736
6,009		Shire Pharmaceuticals Group																			532,998
5,980		ViroPharma, Inc.																			180,716
1,753		Watson Pharmaceuticals Inc., (2)																			149,285
		Total Pharmaceuticals																			5,584,735
		Professional Services – 0.3%
6,314		Equifax Inc.																			294,106
2,798		IHS Inc., (2)																			272,385
808		Manpower Inc.																			29,734
2,197		Robert Half International Inc.																			58,506
1,389		Towers Watson & Company, Class A Shares																			73,686
3,901		Verisk Analytics Inc, Class A Shares, (2)																			185,727
		Total Professional Services																			914,144
		Real Estate Investment Trust – 0.5%
20,439		American Tower REIT Inc.																			1,459,140
345		Public Storage, Inc.																			48,014
		Total Real Estate Investment Trust																			1,507,154
		Road & Rail – 0.4%
3,987		CSX Corporation																			82,730
19,779		Heartland Express, Inc.																			264,247
4,374		J.B. Hunt Transports Services Inc.																			227,623
9,051		Landstar System																			427,931
8,819		Werner Enterprises, Inc.																			188,462
		Total Road & Rail																			1,190,993
		Semiconductors & Equipment – 7.6%
15,495		Advanced Micro Devices, Inc., (2)																			52,218
9,078		Aixtron AG, Aachen SH																			120,011
9,086		Amkor Technology Inc.																			39,978
21,237		Analog Devices, Inc.																			832,278
10,098		ARM Holdings PLC																			282,542
2,443		ASM International NV																			82,598
13,719		ASM Lithography Holding NV																			736,436
4,315		Atmel Corporation, (2)																			22,697
2,227		Cabot Microelectronics Corporation, (2)																			78,257
5,293		Cree, Inc., (2)																			135,130
1,754		Cymer, Inc., (2)																			89,559
2,485		Cypress Semiconductor Corporation, (2)																			26,639
5,040		Hittite Microwave Corporation, (2)																			279,569
6,984		Integrated Device Technology, Inc., (2)																			41,066
632,809		Intel Corporation, (3)																			14,352,108
5,743		International Rectifier Corporation, (2)																			95,851
11,540		Intersil Holding Corporation, Class A																			100,975
4,477		Lam Research Corporation, (2)																			142,301
17,996		LSI Logic Corporation, (2)																			124,352
2,198		Mellanox Technologies, Limited																			223,163
121,609		Micron Technology, Inc., (2)																			727,830
8,107		Microsemi Corporation																			162,707
72,634		NVIDIA Corporation, (2)																			968,938
7,270		NXP Semiconductors NV																			181,823
27,886		ON Semiconductor Corporation, (2)																			172,057
8,442		PMC-Sierra, Inc., (2)																			47,613
5,933		Power Integrations Inc.																			180,541
11,023		Rambus Inc.																			61,067
5,950		Semtech Corporation																			149,643
10,146		Silicon Laboratories Inc.																			372,967
44,749		Siliconware Precision Industries Company Limited																			246,567
8,537		Skyworks Solutions Inc., (2)																			201,174
4,167		Spansion Inc., Class A, (2)																			49,671
2,614		Spreadtrum Communications, Inc.																			53,744
7,657		Tessera Technologies Inc.																			104,748
41,988		Texas Instruments Incorporated																			1,156,769
2,197		TriQuint Semiconductor, Inc., (2)																			11,095
		Total Semiconductors & Equipment																			22,706,682
		Software – 15.5%
1,606		ACI Worldwide, Inc.																			67,870
5,000		Advent Software Inc., (2)																			122,850
7,378		Ansys Inc., (2)																			541,545
3,584		Ariba Inc.																			160,563
2,847		Blackbaud, Inc.																			68,100
18,065		Cadence Design Systems, Inc., (2)																			232,406
941		CommVault Systems, Inc., (2)																			55,237
16,834		Compuware Corporation																			166,825
3,694		Concur Technologies, Inc.																			272,359
1,596		FactSet Research Systems Inc.																			153,886
4,334		Informatica Corporation, (2)																			150,867
1,468		JDA Software Group, (2)																			46,653
15,000		Micros Systems, Inc., (2)																			736,800
760,000		Microsoft Corporation, (3)																			22,632,800
1,584		Microstrategy Inc.																			212,367
1,330		NetSuite Inc., (2)																			84,854
564,163		Oracle Corporation, (3)																			17,765,493
12,402		Parametric Technology Corporation																			270,364
1,035		Pegasystems, Inc.																			30,056
6,511		Progress Software Corporation																			139,270
1,862		QLIK Technologies Inc., (2)																			41,727
5,191		Quest Software Inc. (2)																			145,348
5,477		Red Hat, Inc., (2)																			311,860
1,488		Rovi Corporation																			21,591
513		Salesforce.com, Inc., (2)																			78,330
2,453		Solarwinds, Inc.																			136,730
3,202		Solera Holdings Inc.																			140,472
2,640		SS&C Technologies Holdings Inc., (2)																			66,554
25,778		Synopsys Inc., (2)																			851,190
5,497		Tibco Software Inc., (2)																			166,174
857		VMware Inc.																			82,906
		Total Software																			45,954,047
		Specialty Retail – 2.3%
3,231		Aaron Rents Inc.																			89,854
4,472		Advance Auto Parts, Inc.																			306,064
18,980		Ascena Retail Group Inc., (2)																			407,121
1,094		AutoNation Inc., (2)																			47,775
1,202		AutoZone, Inc., (2)																			444,343
6,793		Best Buy Co., Inc.																			116,772
4,581		CarMax, Inc., (2)																			129,642
2,335		Chico’s FAS, Inc.																			42,287
3,340		Dick’s Sporting Goods Inc.																			173,179
8,570		Gap, Inc.																			306,635
11,574		Home Depot, Inc.																			698,722
1,409		Limited Brands, Inc.																			69,407
15,928		Lowe’s Companies, Inc.																			481,663
10,855		PetSmart Inc.																			748,778
9,254		Rent-A-Center Inc.																			324,630
5,369		Sally Beauty Holdings Inc., (2)																			134,708
5,585		Signet Jewelers Limited																			272,325
5,134		Tiffany & Co.																			317,692
14,382		TJX Companies, Inc.																			644,170
8,047		Tractor Supply Company																			795,768
2,515		Ulta Salon, Cosmetics & Fragrance, Inc., (2)																			242,207
2,384		Williams-Sonoma Inc.																			104,824
		Total Specialty Retail																			6,898,566
		Textiles, Apparel & Luxury Goods – 0.2%
2,374		Coach, Inc.																			132,991
1,271		Nike, Inc., Class B																			120,631
2,496		PVH Corporation																			233,923
404		Ralph Lauren Corporation																			61,097
		Total Textiles, Apparel & Luxury Goods																			548,642
		Trading Companies & Distributors – 0.1%
4,640		MSC Industrial Direct Inc., Class A																			313,014
		Wireless Telecommunication Services – 0.9%
13,012		Crown Castle International Corporation, (2)																			834,069
15,355		Partner Communications Company Limited																			80,614
9,988		SBA Communications Corporation, (2)																			628,245
19,244		Telephone and Data Systems Inc.																			492,839
13,012		United States Cellular Corporation, (2)																			509,160
		Total Wireless Telecommunication Services																			2,544,927
		Total Common Stocks (cost $199,130,009)																			303,046,125

Principal
Amount (000)		Description (1)											Coupon				Maturity				Value
		Short-Term Investments – 0.3%
$ 969,192		Repurchase Agreement with State Street Bank, dated 9/28/12, repurchase price $969,193, collateralized by $915,000 U.S. Treasury Bonds, 3.125%, due 11/15/41, value $991,618											0.010%				10/01/12				$ 969,192
		Total Short Term Investments (cost $969,192)– 0.3%																			969,192
		Total Investments (cost $200,099,201)–102.2%																			304,015,317
		Other Assets Less Liabilities – (2.2)% (4)																			(6,555,547			)
		Net Assets – 100%																			$ 297,459,770

Investments in Derivatives at September 30, 2012 Call Options Written Outstanding:

Number of								Notional				Expiration				Strike
Contracts		Type						Amount (5)				Date				Price				Value (4)
(100	)	NASDAQ 100 INDEX						$ (28,000,000			)	10/20/12				$2,800.0				$ (367,500)
(50	)	NASDAQ 100 INDEX						(14,250,000			)	10/20/12				2,850.0				(76,750)
(100	)	NASDAQ 100 INDEX						(28,750,000			)	10/20/12				2,875.0				(89,500)
(100	)	NASDAQ 100 INDEX						(29,000,000			)	11/17/12				2,900.0				(184,500)
(100	)	NASDAQ 100 INDEX						(29,250,000			)	11/17/12				2,925.0				(126,000)
(450	)	Total Call Options (premiums received $1,755,627)						$ (129,250,000			)									$ (844,250)

		Fair Value Measurements
		Fair value is defined as the price that the Fund 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 September 30, 2012:

					Level 1				Level 2						Level 3			Total
		Long-Term Investments*:
		Common Stocks			$303,046,125				$ —						$ —			$303,046,125
		Short-Term Investments:
		Repurchase Agreements			—				969,192						—			969,192
		Derivatives
		Call Options Written			(844,250		)		—						—			(844,250						)
		Total			$302,201,875				$ 969,192						$ —			$303,171,067

		* 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.

		Derivative Instruments and Hedging Activities

		The Fund records derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.

		The following table presents the fair value of all derivative instruments held by the Fund as of September 30, 2012, the location of these instruments on the Statement of Assets and Liablilities, and the primary underlying risk exposure.

						Location on the Statement of Assets and Liabilities
		Underlying		Derivative		Asset Derivatives								Liability Derivatives
		Risk Exposure		Instrument		Location				Value				Location								Value
		Equity Price		Options		—				$ —				Call options written, at value								$ (844,250		)


		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. 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 September 30, 2012, the cost of investments (excluding investments in derivatives) was $200,160,120.
		Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) at September 30, 2012, were as follows:

		Gross unrealized:
		Appreciation																	$ 114,937,107
		Depreciation																	(11,081,910				)

		Net unrealized appreciation (depreciation) of investments																	$ 103,855,197


			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 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)	Non-Income producing; issuer has not declared a dividend within the past twelve months.
		(3)	Investment, or portion of investment, has been pledged as collateral for call options written.
		(4)	Other Assets Less Liabilities includes the Value of derivative instruments as listed within Investments in Derivatives at September 30, 2012.
		(5)	For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100.
		ADR	American Depositary Receipt.

Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

SIGNATURES

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

(Registrant) NASDAQ Premium Income & Growth Fund Inc.

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

Date: November 29, 2012

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: November 29, 2012

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

Date: November 29, 2012