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         811-6622         

        Nuveen Select Tax-Free Income Portfolio 2         
(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:            3/31          

Date of reporting period:          12/31/05         

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 Select Tax-Free Income Portfolio 2 (NXQ)
December 31, 2005

Principal    Optional Call   
Amount (000)  Description  Provisions(1)  Ratings(2) Value 
  Arkansas - 1.6%     
$ 1,000  Fort Smith, Arkansas, Water and Sewer Revenue Refunding and Construction Bonds, Series 2002A, 5.000%,  10/11 at 100.00  AAA $ 1,062,230 
  10/01/19 - FSA Insured     
1,000  Sebastian County Health Facilities Board, Arkansas, Hospital Revenue Improvement Bonds, Sparks Regional  11/11 at 101.00  Baa1 1,027,950 
  Medical Center, Series 2001A, 5.250%, 11/01/21     
2,000  University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Series 2002, 5.000%, 12/01/32 -  12/12 at 100.00  Aaa 2,071,440 
  FGIC Insured     
4,000  Total Arkansas    4,161,620 
  California - 7.4%     
1,000  Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series 2004A, 0.000%,  10/17 at 100.00  AAA 762,380 
  10/01/25 - AMBAC Insured     
3,325  California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 6.000%, 5/01/14  5/12 at 101.00  A2 3,769,918 
500  California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges Projects,  12/08 at 101.00  A- 518,095 
  Series 1998A, 5.250%, 12/01/16     
2,000  California State Public Works Board, Lease Revenue Refunding Bonds, Various University of California Projects,  No Opt. Call  Aa2 2,215,760 
  Series 1993A, 5.500%, 6/01/14     
190  California, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 - AMBAC Insured  10/07 at 101.00  AAA 197,087 
  California, General Obligation Bonds, Series 1997:     
2,105  5.000%, 10/01/18 (Pre-refunded 10/01/07) - AMBAC Insured (3)  10/07 at 101.00  AAA 2,189,810 
205  5.000%, 10/01/18 (Pre-refunded 10/01/07) - AMBAC Insured (3)  10/07 at 101.00  AAA 213,259 
2,500  California, General Obligation Bonds, Series 2005, 5.000%, 3/01/31 (WI/DD, Settling 1/03/06)  3/16 at 100.00  A 2,597,850 
500  Contra Costa County, California, Certificates of Participation Refunding, Merrithew Memorial Hospital  11/07 at 102.00  AAA 527,640 
  Replacement, Series 1997, 5.375%, 11/01/17 - MBIA Insured     
500  Contra Costa Water District, California, Water Revenue Refunding Bonds, Series 1997H, 5.000%, 10/01/17  10/07 at 100.00  AA 513,930 
3,200  Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds,  6/13 at 100.00  BBB 3,599,296 
  Series 2003A-1, 6.750%, 6/01/39     
1,750  Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds,  6/15 at 100.00  BBB 1,757,315 
  Series 2005A-1, 5.500%, 6/01/45     
17,775  Total California    18,862,340 
  Colorado - 8.6%     
Colorado Health Facilities Authority, Revenue Bonds, Catholic Health Initiatives, Series 2002A: 
1,700  5.500%, 3/01/22 (3)  3/12 at 100.00  AA(3) 1,854,581 
1,300  5.500%, 3/01/22  3/12 at 100.00  AA 1,397,149 
3,185  Denver City and County, Colorado, Airport System Revenue Bonds, Series 1991D, 7.750%, 11/15/13  No Opt. Call  A 3,676,254 
  (Alternative Minimum Tax)     
1,555  Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001, 5.500%,  11/11 at 100.00  AAA 1,689,119 
  11/15/16 - FGIC Insured     
5,000  Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001A, 5.625%,  11/11 at 100.00  AAA 5,376,700 
  11/15/17 - FGIC Insured (Alternative Minimum Tax)       
3,000  Denver Convention Center Hotel Authority, Colorado, Senior Revenue Bonds, Convention Center Hotel,  12/13 at 100.00  AAA  3,144,720 
  Series 2003A, 5.000%, 12/01/23 - XLCA Insured       
5,000  E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/24 -  No Opt. Call  AAA  2,088,950 
  MBIA Insured       
5,000  E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/28  9/10 at 31.42  AAA  1,319,100 
  (Pre-refunded 9/01/10) - MBIA Insured (3)       
250  Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001A, 5.250%,  6/11 at 102.00  AAA  264,880 
  6/15/41 - FSA Insured       
1,100  University of Colorado Hospital Authority, Revenue Bonds, Series 2001A, 5.600%, 11/15/31  11/11 at 100.00  Baa1  1,152,140 
27,090  Total Colorado      21,963,593 
  District of Columbia - 0.4%       
500  District of Columbia, Hospital Revenue Refunding Bonds, Medlantic Healthcare Group, Series 1996A,  8/06 at 102.00  AAA  517,675 
  5.750%, 8/15/16 - MBIA Insured       
500  Washington Convention Center Authority, District of Columbia, Senior Lien Dedicated Tax Revenue Bonds,  10/08 at 101.00  AAA  522,290 
  Series 1998, 5.000%, 10/01/21 - AMBAC Insured       
1,000  Total District of Columbia      1,039,965 
  Florida - 0.3%       
625  Miami-Dade County Expressway Authority, Florida, Toll System Revenue Refunding Bonds, Series 2001,  7/11 at 101.00  Aaa  653,800 
  5.125%, 7/01/29 - FGIC Insured       
  Hawaii - 0.5%       
1,100  Hawaii, Certificates of Participation, Kapolei State Office Building, Series 1998A, 5.000%, 5/01/17 -  11/08 at 101.00  AAA  1,152,118 
  AMBAC Insured       
  Illinois - 15.4%       
4,425  Chicago Metropolitan Housing Development Corporation, Illinois, FHA-Insured Section 8 Assisted Housing  1/06 at 100.00  AA  4,431,461 
  Development Revenue Refunding Bonds, Series 1992, 6.800%, 7/01/17       
2,400  Chicago, Illinois, Special Facility Revenue Refunding Bonds, O'Hare International Airport, United Air Lines Inc.  No Opt. Call  N/R  420,768 
  Project, Series 2001C, 6.300%, 5/01/16 (4)       
1,665  Chicago, Illinois, Third Lien General Airport Revenue Bonds, O'Hare International Airport, Series 2005A,  1/16 at 100.00  AAA  1,726,705 
  5.000%, 1/01/33 (WI/DD, Settling 1/03/06) - FGIC Insured       
250  Illinois Development Finance Authority, Economic Development Revenue Bonds, Latin School of Chicago,  8/08 at 100.00  Baa2(3)  257,250 
  Series 1998, 5.200%, 8/01/11 (Pre-refunded 8/01/08) (3)       
600  Illinois Educational Facilities Authority, Student Housing Revenue Bonds, Educational Advancement Foundation  5/12 at 101.00  Baa3  649,998 
  Fund, University Center Project, Series 2002, 6.000%, 5/01/22       
2,185  Illinois Finance Authority, Revenue Bonds, YMCA of Southwest Illinois, Series 2005, 5.000%, 9/01/31 -  9/15 at 100.00  AA  2,216,661 
  RAAI Insured       
2,255  Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2002A, 6.250%, 7/01/22  7/12 at 100.00  A-  2,474,682 
1,055  Illinois Health Facilities Authority, Revenue Bonds, Loyola University Health System, Series 2001A, 6.125%,  7/11 at 100.00  Baa1  1,118,764 
  7/01/31       
3,000  Illinois Health Facilities Authority, Revenue Bonds, Rush-Presbyterian St. Luke's Medical Center Obligated  5/06 at 100.00  AAA  3,003,810 
  Group, Series 1993, 5.250%, 11/15/20 - MBIA Insured       
1,000  Illinois Housing Development Authority, Housing Finance Bonds, Series 2005E, 4.750%, 7/01/30 - FGIC Insured  1/15 at 100.00  AAA  1,007,290 
5,700  Illinois, Sales Tax Revenue Bonds, First Series 2002, 5.000%, 6/15/22  6/13 at 100.00  AAA  5,981,865 
45  Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project,  6/06 at 100.00  A1  45,095 
  Series 1992A, 6.500%, 6/15/22       
7,000  Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion  6/12 at 101.00  AAA  7,371,770 
  Project, Series 2002B, 5.000%, 6/15/21 - MBIA Insured       
5,045  Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment, Series 2002A,  12/12 at 100.00  AA  5,178,289 
  5.000%, 6/01/22 - RAAI Insured       
  Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment, Series 2002B:       
1,060  0.000%, 12/01/17 - RAAI Insured  No Opt. Call  AA  586,466 
1,135  0.000%, 12/01/18 - RAAI Insured  No Opt. Call  AA  594,468 
1,100  Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 - FGIC Insured  12/14 at 100.00  AAA  1,177,957 
1,000  Yorkville, Illinois, General Obligation Debt Certificates, Series 2003, 5.000%, 12/15/21 - RAAI Insured  12/11 at 100.00  AA  1,025,860 
40,920  Total Illinois      39,269,159 
  Indiana - 3.1%       
1,000  Franklin Community Multi-School Building Corporation, Marion County, Indiana, First Mortgage Revenue Bonds,  7/14 at 100.00  AAA  1,052,870 
  Series 2004, 5.000%, 7/15/22 - FGIC Insured       
1,110  Indiana Housing Finance Authority, Single Family Mortgage Revenue Bonds, Series 2002C-2, 5.250%, 7/01/23  7/11 at 100.00  Aaa  1,145,542 
  (Alternative Minimum Tax)       
4,380  Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2002A, 5.125%, 1/01/21 -  1/12 at 100.00  AAA  4,635,880 
  AMBAC Insured       
285  St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Memorial Health System, Series 1998A,  2/08 at 101.00  AAA  285,356 
  4.625%, 8/15/28 - MBIA Insured       
750  West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds, Series 2005,       
  5.000%, 7/15/22 - MBIA Insured  1/15 at 100.00  AAA  791,558 
7,525  Total Indiana      7,911,206 
  Iowa - 2.3%       
1,000  Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 0.000%, 6/01/34  6/17 at 100.00  BBB  917,770 
  Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2001B:       
1,000  5.300%, 6/01/25 (Pre-refunded 6/01/11) (3)  6/11 at 101.00  AAA  1,087,370 
3,500  5.600%, 6/01/35 (Pre-refunded 6/01/11) (3)  6/11 at 101.00  AAA  3,856,965 
5,500  Total Iowa      5,862,105 
  Louisiana - 2.1%       
2,125  Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%,  7/14 at 100.00  AAA  2,259,725 
  7/01/24 - MBIA Insured       
3,000  Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Series 2002A, 5.125%, 7/01/27 -  7/12 at 100.00  AAA  3,104,520 
  AMBAC Insured       
5,125  Total Louisiana      5,364,245 
  Massachusetts - 2.1%       
3,000  Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System,  10/11 at 101.00  BBB+  3,185,370 
  Series 2001E, 6.250%, 10/01/31       
2,090  Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 -  No Opt. Call  AAA  2,299,773 
  MBIA Insured       
5,090  Total Massachusetts      5,485,143 
  Michigan - 2.0%       
2,900  Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Trinity Health Credit Group,  12/12 at 100.00  AA-  3,058,137 
  Series 2002C, 5.375%, 12/01/30       
2,000  Plymouth-Canton Community School District, Wayne and Washtenaw Counties, Michigan, Unlimited Tax  5/09 at 100.00  AA  2,062,400 
  General Obligation School Building and Site Bonds, Series 1999, 4.750%, 5/01/18       
4,900  Total Michigan      5,120,537 
  Nevada - 7.5%       
1,500  Clark County, Nevada, General Obligation Bank Bonds, Southern Nevada Water Authority Loan, Series 2001,  6/11 at 100.00  AAA  1,608,390 
  5.300%, 6/01/19 - FGIC Insured       
500  Clark County, Nevada, Limited Tax General Obligation Las Vegas Convention and Visitors Authority Bonds,  7/06 at 101.00  AAA  510,245 
  Series 1996, 5.500%, 7/01/17 - MBIA Insured       
  Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project,       
  First Tier, Series 2000:       
4,595  0.000%, 1/01/22 - AMBAC Insured  No Opt. Call  AAA  2,154,320 
13,250  5.375%, 1/01/40 - AMBAC Insured  1/10 at 100.00  AAA  13,887,721 
1,000  Nevada, General Obligation Refunding Bonds, Municipal Bond Bank Projects 65 and R-6, Series 1998,       
  5.000%, 5/15/22 - MBIA Insured  5/08 at 100.00  AAA  1,030,860 
20,845  Total Nevada      19,191,536 
  New Jersey - 1.4%       
2,500  New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center,       
  Series 2003, 5.500%, 7/01/23  7/13 at 100.00  Baa3  2,600,375 
1,010  Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,       
  Series 2003, 6.250%, 6/01/43  6/13 at 100.00  BBB  1,096,204 
3,510  Total New Jersey      3,696,579 
  New Mexico - 2.5%       
  University of New Mexico, FHA-Insured Mortgage Hospital Revenue Bonds, Series 2004:       
555  4.625%, 1/01/25 - FSA Insured  7/14 at 100.00  AAA  557,908 
660  4.625%, 7/01/25 - FSA Insured  7/14 at 100.00  AAA  663,458 
2,000  4.750%, 7/01/27 - FSA Insured  7/14 at 100.00  AAA  2,032,180 
3,000  4.750%, 1/01/28 - FSA Insured  7/14 at 100.00  AAA  3,041,910 
6,215  Total New Mexico      6,295,456 
  New York - 4.6%       
2,700  Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health Obligated Group,  7/10 at 101.00  Ba1  2,905,713 
  Series 2000A, 6.500%, 7/01/17       
2,000  New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue  12/14 at 100.00  AAA  2,089,520 
  Bonds, Fiscal Series 2005B, 5.000%, 6/15/36 - FSA Insured       
3,000  New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State  6/11 at 100.00  AA-  3,260,580 
  Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/16       
3,150  Triborough Bridge and Tunnel Authority, New York, Convention Center Bonds, Series 1990E, 7.250%, 1/01/10  No Opt. Call  AA-  3,397,369 
10,850  Total New York      11,653,182 
  North Carolina - 0.6%       
1,500  Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, Carolinas  1/11 at 101.00  AA  1,532,895 
  Healthcare System, Series 2001A, 5.000%, 1/15/31       
  Oklahoma - 0.4%       
1,000  Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 5.375%, 9/01/36  9/16 at 100.00  BBB-  1,009,460 
  Pennsylvania - 2.7%       
1,020  Carlisle Area School District, Cumberland County, Pennsylvania, General Obligation Bonds, Series 2004A,  9/09 at 100.00  Aaa  1,064,350 
  5.000%, 9/01/20 - FGIC Insured       
545  Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System  2/09 at 101.00  AAA  572,642 
  Project, Series 1999, 5.125%, 8/15/17 - MBIA Insured        
455  Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System       
  Project, Series 1999, 5.125%, 8/15/17 (Pre-refunded 2/15/09) - MBIA Insured (3)  2/09 at 101.00  AAA  480,007 
1,000  Philadelphia Authority for Industrial Development, Pennsylvania, Airport Revenue Bonds, Philadelphia Airport  7/11 at 101.00  AAA  1,075,060 
  System Project, Series 2001A, 5.500%, 7/01/17 - FGIC Insured (Alternative Minimum Tax)       
3,250  Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2002A, 5.500%, 2/01/31  2/12 at 100.00  AAA  3,588,065 
  (Pre-refunded 2/01/12) - FSA Insured (3)       
6,270  Total Pennsylvania      6,780,124 
  Puerto Rico - 1.2%       
3,000  Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 5.000%, 12/01/20  12/13 at 100.00  AA  3,167,400 
  Rhode Island - 2.1%       
5,000  Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,       
  Series 2002A, 6.250%, 6/01/42  6/12 at 100.00  BBB  5,253,950 
  South Carolina - 4.4%       
500  Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds, GROWTH,  12/14 at 100.00  A  530,300 
  Series 2004, 5.250%, 12/01/20       
620  Florence, South Carolina, Water and Sewerage Revenue Bonds, Series 2000, 5.750%, 3/01/20 - AMBAC Insured  3/10 at 101.00  AAA  675,608 
4,000  Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2002,  12/12 at 101.00  AA-(3)  4,574,840 
  5.875%, 12/01/19 (Pre-refunded 12/01/12) (3)       
2,500  Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and Improvement  11/13 at 100.00  A  2,769,175 
  Bonds, Series 2003, 6.000%, 11/01/18       
2,435  Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds, Series 2004A,  8/14 at 100.00  AAA  2,623,761 
  5.250%, 2/15/21 - MBIA Insured       
10,055  Total South Carolina      11,173,684 
  South Dakota - 0.4%       
1,000  South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley Hospitals, Series 2004A,  11/14 at 100.00  A+  1,045,590 
  5.250%, 11/01/34       
  Texas - 11.9%       
4,000  Brazos River Harbor Navigation District, Brazoria County, Texas, Environmental Facilities Revenue Bonds,  5/12 at 101.00  A-  4,337,720 
  Dow Chemical Company Project, Series 2002A-6, 6.250%, 5/15/33 (Mandatory put 5/15/17)       
  (Alternative Minimum Tax)       
1,500  Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds,  1/15 at 100.00  AAA  1,536,600 
  Series 2005, 5.000%, 1/01/45 - FGIC Insured       
1,270  Cleveland Housing Corporation, Texas, FHA-Insured Section 8 Assisted Mortgage Revenue Refunding Bonds,  1/06 at 100.00  AAA  1,272,159 
  Series 1992C, 7.375%, 7/01/24 - MBIA Insured       
2,500  Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Texas Children's  4/06 at 102.00  AAA  2,776,200 
  Hospital, Series 1995, 5.500%, 10/01/16 - MBIA Insured       
3,000  Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO Project,  11/13 at 100.00  AAA  3,090,360 
  Series 2003, 5.000%, 11/15/30 - MBIA Insured       
4,550  Harris County-Houston Sports Authority, Texas, Junior Lien Revenue Bonds, Series 2001H, 0.000%,  11/31 at 53.78  AAA  676,176 
  11/15/41 - MBIA Insured       
2,000  Houston, Texas, Subordinate Lien Airport System Revenue Bonds, Series 2002A, 5.625%, 7/01/20 -  7/12 at 100.00  AAA  2,156,580 
  FSA Insured (Alternative Minimum Tax)       
3,125  Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General Obligation Bonds,  2/12 at 100.00  AAA  3,215,250 
  Series 2002A, 5.000%, 2/15/32       
1,400  Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital  No Opt. Call  BBB-  1,428,504 
  Project, Series 2005, 5.375%, 8/15/35 (WI/DD, Settling 1/03/06)       
  Killeen Independent School District, Bell County, Texas, General Obligation Bonds, Series 1998:       
780  5.000%, 2/15/14 (Pre-refunded 2/15/08)  2/08 at 100.00  AAA  807,784 
220  5.000%, 2/15/14  2/08 at 100.00  AAA  226,717 
1,000  Lewisville Independent School District, Denton County, Texas, General Obligation Bonds, Series 2004,  8/11 at 100.00  AAA  1,050,140 
  5.000%, 8/15/23       
4,750  Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds,  10/12 at 100.00  AA  5,074,900 
  Series 2002A, 5.500%, 10/01/17 - RAAI Insured       
1,250  Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 1996B,  1/07 at 100.00  AAA  1,271,150 
  5.125%, 7/15/18       
500  Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 2000A,  7/10 at 100.00  AAA  541,455 
  5.625%, 7/15/13       
1,000  Texas, General Obligation Bonds, Water Financial Assistance Program, Series 2003A, 5.125%, 8/01/42  8/13 at 100.00  Aa1  1,018,060 
  (Alternative Minimum Tax)       
32,785  Total Texas      30,479,755 
  Utah - 0.6%       
1,435  Salt Lake City and Sandy Metropolitan Water District, Utah, Water Revenue Bonds, Series 2004, 5.000%,       
  7/01/21 - AMBAC Insured  7/14 at 100.00  Aaa  1,526,395 
  Vermont - 2.6%       
3,000  Vermont Housing Finance Agency, Multifamily Housing Bonds, Series 1999C, 5.800%, 8/15/16 - FSA Insured  2/09 at 100.00  AAA  3,105,000 
3,600  Vermont Industrial Development Authority, Revenue Refunding Bonds, Stanley Works Inc., Series 1992,       
  6.750%, 9/01/10  3/06 at 100.00  A  3,608,280 
6,600  Total Vermont      6,713,280 
  Virginia - 0.5%       
250  Norfolk, Virginia, Water Revenue Bonds, Series 1995, 5.750%, 11/01/13 - MBIA Insured  11/07 at 100.00  AAA  255,505 
1,000  Virginia Transportation Board, Transportation Revenue Refunding Bonds, U.S. Route 58 Corridor Development  5/07 at 101.00  AA+  1,031,860 
  Program, Series 1997C, 5.125%, 5/15/19       
1,250  Total Virginia      1,287,365 
  Washington - 3.6%       
2,000  Washington State Healthcare Facilities Authority, Revenue Bonds, Catholic Health Initiatives, Series 1997A,  12/07 at 101.00  AAA  2,075,340 
  5.125%, 12/01/17 - MBIA Insured       
6,715  Washington State Healthcare Facilities Authority, Revenue Bonds, Sisters of Providence Health System,  10/11 at 100.00  AAA  7,046,587 
  Series 2001A, 5.125%, 10/01/17 - MBIA Insured       
8,715  Total Washington      9,121,927 
  Wisconsin - 2.0%       
1,000  Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc.,  8/13 at 100.00  A  1,075,440 
  Series 2003A, 5.500%, 8/15/18       
4,000  Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds,  3/12 at 100.00  AA  4,102,840 
   2002G, 4.850%, 9/01/17       
5,000  Total Wisconsin  5,178,280 
$ 245,740  Total Investments (cost $232,228,839) - 94.8%  241,952,689 
  Other Assets Less Liabilities - 5.2%  13,307,769 
  Net Assets - 100%      $ 255,260,458 

(1 )  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. 
(2 )  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. 
(3 )  Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency 
  securities which ensures the timely payment of principal and interest. Such securities are normally considered 
  to be equivalent to AAA rated securities. 
(4 )  On December 9, 2002, UAL Corporaton, the holding company of United Air LInes, Inc. filed for federal 
  bankruptcy protection. The Adviser determined that it was likley United would not remian current on their 
  interest payment obligations with respect to these bonds and has thus stopped accruing interest. 
WI/DD   Security purchased on a when-issued or delayed delivery basis. 
N/R   Investment is not rated. 

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 December 31, 2005, the cost of investments was $232,136,314.

Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2005, were as follows:

   Gross unrealized:   
    Appreciation  $ 11,887,248  
    Depreciation  (2,070,873 ) 
Net unrealized appreciation (depreciation) of investments  $ 9,816,375  

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 Select Tax-Free Income Portfolio 2        

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

Date         2/27/06        

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         2/27/06        

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

Date         2/27/06        

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