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)

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:            3/31          

Date of reporting period:         6/30/08         

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 Select Tax-Free Income Portfolio 2 (NXQ)
		June 30, 2008
Principal				Optional Call
Amount (000)		Description (1)		Provisions (2)		Ratings (3)		Value
		Municipal Bonds – 98.7%
		Arizona – 0.7%
$          2,000		Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Series 2007, 5.000%, 12/01/37		No Opt. Call		AA–	$	1,749,960
		Arkansas – 1.3%
1,000		Fort Smith, Arkansas, Water and Sewer Revenue Refunding and Construction Bonds, Series 2002A,		10/11 at 100.00		AAA		1,032,780
		5.000%, 10/01/19 – FSA Insured
2,000		University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Series 2002, 5.000%,		12/12 at 100.00		Aa3		1,997,120
		12/01/32 – FGIC Insured
3,000		Total Arkansas						3,029,900
		California – 6.6%
1,000		Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series		10/17 at 100.00		AA		828,930
		2004A, 0.000%, 10/01/25 – AMBAC Insured
3,325		California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A,		5/12 at 101.00		Aa3		3,633,593
		6.000%, 5/01/14
500		California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges		12/08 at 101.00		A		507,030
		Projects, Series 1998A, 5.250%, 12/01/16
2,000		California State Public Works Board, Lease Revenue Refunding Bonds, Various University of		No Opt. Call		Aa2		2,153,500
		California Projects, Series 1993A, 5.500%, 6/01/14
60		California, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 – AMBAC Insured		10/08 at 100.00		Aaa		60,314
2,500		California, General Obligation Bonds, Series 2005, 5.000%, 3/01/31		3/16 at 100.00		A+		2,499,825
1,000		Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement		6/17 at 100.00		BBB		764,270
		Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47
3,200		Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed		6/13 at 100.00		AAA		3,627,936
		Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13)
1,195		Palmdale Elementary School District, Los Angeles County, California, General Obligation Bonds,		No Opt. Call		AAA		421,990
		Series 2003, 0.000%, 8/01/28 – FSA Insured
1,750		Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed		6/15 at 100.00		BBB		1,429,733
		Bonds, Series 2005A-1, 5.500%, 6/01/45
16,530		Total California						15,927,121
		Colorado – 9.8%
1,700		Colorado Health Facilities Authority, Revenue Bonds, Catholic Health Initiatives, Series 2002A,		3/12 at 100.00		AA (4)		1,792,650
		5.500%, 3/01/22 (ETM)
1,300		Colorado Health Facilities Authority, Revenue Bonds, Catholic Health Initiatives, Series 2002A,		3/12 at 100.00		AA (4)		1,399,047
		5.500%, 3/01/22 (Pre-refunded 3/01/12)
2,825		Denver City and County, Colorado, Airport System Revenue Bonds, Series 1991D, 7.750%, 11/15/13		No Opt. Call		A+		3,110,043
		(Alternative Minimum Tax)
5,000		Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001A,		11/11 at 100.00		A+		5,047,150
		5.625%, 11/15/17 – FGIC Insured (Alternative Minimum Tax)
1,555		Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2001, 5.500%,		11/11 at 100.00		A+		1,605,849
		11/15/16 – FGIC Insured
3,000		Denver Convention Center Hotel Authority, Colorado, Senior Revenue Bonds, Convention Center		12/13 at 100.00		N/R (4)		3,186,510
		Hotel, Series 2003A, 5.000%, 12/01/23 (Pre-refunded 12/01/13) – XLCA Insured
2,000		Denver Convention Center Hotel Authority, Colorado, Senior Revenue Bonds, Convention Center		11/16 at 100.00		BBB–		1,694,020
		Hotel, Series 2006, 4.750%, 12/01/35 – XLCA Insured
		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
5,100		0.000%, 9/01/24 – MBIA Insured		No Opt. Call		AA		2,029,698
4,000		0.000%, 9/01/33 – MBIA Insured		No Opt. Call		AA		894,560
5,000		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/28		9/10 at 31.42		Aaa		1,470,250
		(Pre-refunded 9/01/10) – MBIA Insured
250		Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001A,		6/11 at 102.00		AAA		266,995
		5.250%, 6/15/41 (Pre-refunded 6/15/11) – FSA Insured
1,100		University of Colorado Hospital Authority, Revenue Bonds, Series 2001A, 5.600%, 11/15/31		11/11 at 100.00		Baa1 (4)		1,180,498
		(Pre-refunded 11/15/11)
32,830		Total Colorado						23,677,270
		District of Columbia – 0.4%
500		District of Columbia, Hospital Revenue Refunding Bonds, Medlantic Healthcare Group, Series		8/08 at 100.00		AA (4)		501,980
		1996A, 5.750%, 8/15/16 – MBIA Insured (ETM)
500		Washington Convention Center Authority, District of Columbia, Senior Lien Dedicated Tax		10/08 at 101.00		AA (4)		508,850
		Revenue Bonds, Series 1998, 5.000%, 10/01/21 (Pre-refunded 10/01/08) – AMBAC Insured
1,000		Total District of Columbia						1,010,830
		Florida – 2.3%
1,000		Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa		10/16 at 100.00		A3		945,930
		General Hospital, Series 2006, 5.250%, 10/01/41
1,500		Jacksonville, Florida, Guaranteed Entitlement Revenue Refunding and Improvement Bonds, Series		10/12 at 100.00		A+		1,521,960
		2002, 5.000%, 10/01/21 – FGIC Insured
2,500		JEA, Florida, Electric System Revenue Bonds, Series 2006-3A, 5.000%, 10/01/41 – FSA Insured		4/15 at 100.00		AAA		2,511,475
625		Miami-Dade County Expressway Authority, Florida, Toll System Revenue Refunding Bonds, Series		7/11 at 101.00		A3		629,600
		2001, 5.125%, 7/01/29 – FGIC Insured
5,625		Total Florida						5,608,965
		Hawaii – 0.5%
1,100		Hawaii, Certificates of Participation, Kapolei State Office Building, Series 1998A, 5.000%,		11/08 at 101.00		AA		1,118,381
		5/01/17 – AMBAC Insured
		Illinois – 13.3%
630		Chicago Metropolitan Housing Development Corporation, Illinois, FHA-Insured Section 8 Assisted		7/08 at 100.00		AA		631,027
		Housing Development Revenue Refunding Bonds, Series 1992, 6.800%, 7/01/17
590		Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2003A, 5.000%, 1/01/33 – AMBAC Insured		7/13 at 100.00		AA+		592,590
1,665		Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport,		1/16 at 100.00		A1		1,592,506
		Series 2005A, 5.000%, 1/01/33 – FGIC Insured
250		Illinois Development Finance Authority, Economic Development Revenue Bonds, Latin School of		8/08 at 100.00		Baa2 (4)		250,715
		Chicago, Series 1998, 5.200%, 8/01/11 (Pre-refunded 8/01/08)
600		Illinois Educational Facilities Authority, Student Housing Revenue Bonds, Educational Advancement		5/12 at 101.00		Aaa		661,542
		Foundation Fund, University Center Project, Series 2002, 6.000%, 5/01/22 (Pre-refunded 5/01/12)
525		Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond		7/17 at 100.00		AA		521,693
		Trust 1137, 14.084%, 7/01/46 (IF)
2,185		Illinois Finance Authority, Revenue Bonds, YMCA of Southwest Illinois, Series 2005, 5.000%,		9/15 at 100.00		Aa3		2,023,834
		9/01/31 – RAAI Insured
2,255		Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2002A,		7/12 at 100.00		A–		2,351,559
		6.250%, 7/01/22
1,055		Illinois Health Facilities Authority, Revenue Bonds, Loyola University Health System, Series		7/11 at 100.00		Baa2 (4)		1,142,523
		2001A, 6.125%, 7/01/31 (Pre-refunded 7/01/11)
1,000		Illinois Housing Development Authority, Housing Finance Bonds, Series 2005E, 4.750%, 7/01/30 –		1/15 at 100.00		A+		932,740
		FGIC Insured
5,700		Illinois, Sales Tax Revenue Bonds, First Series 2002, 5.000%, 6/15/22		6/13 at 100.00		AAA		5,853,328
45		Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion		12/08 at 100.00		A1		45,072
		Project, Series 1992A, 6.500%, 6/15/22
7,000		Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place		6/12 at 101.00		AAA		7,194,528
		Expansion Project, Series 2002B, 5.000%, 6/15/21 – MBIA Insured
5,045		Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,		12/12 at 100.00		A		4,901,924
		Series 2002A, 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		A		644,236
1,135		0.000%, 12/01/18 – RAAI Insured		No Opt. Call		A		647,563
1,100		Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 – FGIC Insured		12/14 at 100.00		AA+		1,120,339
1,000		Yorkville, Illinois, General Obligation Debt Certificates, Series 2003, 5.000%, 12/15/21		12/11 at 100.00		A (4)		1,061,300
		(Pre-refunded 12/15/11) – RAAI Insured
32,840		Total Illinois						32,169,019
		Indiana – 3.8%
1,000		Franklin Community Multi-School Building Corporation, Marion County, Indiana, First Mortgage		7/14 at 100.00		A (4)		1,080,640
		Revenue Bonds, Series 2004, 5.000%, 7/15/22 (Pre-refunded 7/15/14) – FGIC Insured
750		Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Ascension		No Opt. Call		Aa1		738,773
		Health, Series 2006B-5, 5.000%, 11/15/36
1,000		Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest		3/17 at 100.00		BBB–		887,150
		Indiana, Series 2007, 5.500%, 3/01/37
870		Indiana Housing Finance Authority, Single Family Mortgage Revenue Bonds, Series 2002C-2,		7/11 at 100.00		Aaa		879,492
		5.250%, 7/01/23 (Alternative Minimum Tax)
4,380		Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2002A, 5.125%,		1/12 at 100.00		AA		4,454,329
		1/01/21 – AMBAC Insured
355		St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Memorial Health System, Series		8/08 at 101.00		AA		332,220
		1998A, 4.625%, 8/15/28 – MBIA Insured
750		West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds,		1/15 at 100.00		AA		771,885
		Series 2005, 5.000%, 7/15/22 – MBIA Insured
9,105		Total Indiana						9,144,489
		Iowa – 3.4%
1,965		Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Series 2007B, 4.800%, 1/01/37		7/16 at 100.00		AAA		1,731,794
		(Alternative Minimum Tax)
1,000		Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,		6/15 at 100.00		BBB		812,240
		5.375%, 6/01/38
1,000		Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,		6/17 at 100.00		BBB		895,890
		5.600%, 6/01/34
		Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2001B:
1,000		5.300%, 6/01/25 (Pre-refunded 6/01/11)		6/11 at 101.00		AAA		1,062,080
3,500		5.600%, 6/01/35 (Pre-refunded 6/01/11)		6/11 at 101.00		AAA		3,759,595
8,465		Total Iowa						8,261,599
		Kansas – 0.7%
795		Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Series 2006,		7/16 at 100.00		A3		733,475
		4.875%, 7/01/36
1,000		Salina, Kansas, Hospital Revenue Bonds, Salina Regional Medical Center, Series 2006,		4/13 at 100.00		A1		913,640
		4.500%, 10/01/26
1,795		Total Kansas						1,647,115
		Louisiana – 2.2%
2,125		Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series		7/14 at 100.00		AA		2,159,956
		2004, 5.250%, 7/01/24 – MBIA Insured
3,000		Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Series 2002A, 5.125%,		7/12 at 100.00		AA (4)		3,193,890
		7/01/27 (Pre-refunded 7/01/12) – AMBAC Insured
5,125		Total Louisiana						5,353,846
		Massachusetts – 3.4%
3,000		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health		10/11 at 101.00		BBB+		3,055,980
		System, Series 2001E, 6.250%, 10/01/31
500		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,		7/18 at 100.00		A3		479,260
		Series 2008E-1, 5.000%, 7/01/28
2,565		Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series		7/08 at 101.00		AA		2,522,883
		1997A, 5.000%, 1/01/37 – MBIA Insured
1,270		Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 –		No Opt. Call		Aa2 (4)		1,377,366
		MBIA Insured (ETM)
820		Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 –		No Opt. Call		AAA		876,416
		MBIA Insured
8,155		Total Massachusetts						8,311,905
		Michigan – 2.3%
545		Detroit, Michigan, General Obligation Bonds, Series 2003A, 5.250%, 4/01/19 – XLCA Insured		4/13 at 100.00		BBB		543,093
2,900		Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Trinity Health		12/12 at 100.00		AA		2,939,092
		Credit Group, Series 2002C, 5.375%, 12/01/30
2,000		Plymouth-Canton Community School District, Wayne and Washtenaw Counties, Michigan, Unlimited		5/09 at 100.00		AA– (4)		2,050,040
		Tax General Obligation School Building and Site Bonds, Series 1999, 4.750%, 5/01/18
		(Pre-refunded 5/01/09)
5,445		Total Michigan						5,532,225
		Minnesota – 0.6%
1,500		Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007-I, 4.850%,		7/16 at 100.00		AA+		1,353,060
		7/01/38 (Alternative Minimum Tax)
		Nevada – 5.0%
1,500		Clark County, Nevada, General Obligation Bank Bonds, Southern Nevada Water Authority Loan,		6/11 at 100.00		AA+ (4)		1,595,490
		Series 2001, 5.300%, 6/01/19 (Pre-refunded 6/01/11) – FGIC 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		AA		1,577,831
13,250		5.375%, 1/01/40 – AMBAC Insured		1/10 at 100.00		AA		8,978,198
19,345		Total Nevada						12,151,519
		New Jersey – 1.9%
2,500		New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center,		7/13 at 100.00		Ba2		2,235,150
		Series 2003, 5.500%, 7/01/23
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
		Series 2003:
1,000		6.375%, 6/01/32 (Pre-refunded 6/01/13)		6/13 at 100.00		AAA		1,107,750
1,010		6.250%, 6/01/43 (Pre-refunded 6/01/13)		6/13 at 100.00		AAA		1,134,634
4,510		Total New Jersey						4,477,534
		New Mexico – 2.9%
1,000		New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series		9/17 at 100.00		AAA		936,810
		2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
		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		546,503
660		4.625%, 7/01/25 – FSA Insured		7/14 at 100.00		AAA		649,691
2,000		4.750%, 7/01/27 – FSA Insured		7/14 at 100.00		AAA		1,982,700
3,000		4.750%, 1/01/28 – FSA Insured		7/14 at 100.00		AAA		2,955,000
7,215		Total New Mexico						7,070,704
		New York – 4.1%
2,045		Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health Obligated		7/10 at 101.00		BBB+		2,119,315
		Group, Series 2000A, 6.500%, 7/01/17
655		Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health Obligated		7/10 at 101.00		Baa1 (4)		708,278
		Group, Series 2000A, 6.500%, 7/01/17 (Pre-refunded 7/01/10)
425		Dormitory Authority of the State of New York, FHA-Insured State Personal Income Tax Revenue Bonds,		8/16 at 100.00		AA		307,760
		Tender Option Bond Trust 2846, 13.041%, 2/15/35 (IF)
2,000		New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue		12/14 at 100.00		AAA		2,027,490
		Bonds, Fiscal Series 2005B, 5.000%, 6/15/36 – FSA Insured (UB)
3,000		New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and		6/11 at 100.00		AA–		3,115,200
		State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/16
1,680		Triborough Bridge and Tunnel Authority, New York, Convention Center Bonds, Series 1990E,		No Opt. Call		AA–		1,753,248
		7.250%, 1/01/10
9,805		Total New York						10,031,291
		North Carolina – 0.6%
1,155		Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds,		1/11 at 101.00		AA–		1,142,653
		Carolinas Healthcare System, Series 2001A, 5.000%, 1/15/31
345		Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds,		1/11 at 101.00		Aa3 (4)		363,602
		Carolinas Healthcare System, Series 2001A, 5.000%, 1/15/31 (Pre-refunded 1/15/11)
1,500		Total North Carolina						1,506,255
		Ohio – 1.2%
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
		Bonds, Senior Lien, Series 2007A-2:
55		5.125%, 6/01/24		6/17 at 100.00		BBB		49,896
680		5.875%, 6/01/30		6/17 at 100.00		BBB		605,982
525		5.750%, 6/01/34		6/17 at 100.00		BBB		450,303
2,180		5.875%, 6/01/47		6/17 at 100.00		BBB		1,823,701
3,440		Total Ohio						2,929,882
		Oklahoma – 1.6%
1,000		Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005,		9/16 at 100.00		BBB		961,370
		5.375%, 9/01/36
3,000		Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,		2/17 at 100.00		AA–		2,845,740
		5.000%, 2/15/42
4,000		Total Oklahoma						3,807,110
		Pennsylvania – 2.7%
1,020		Carlisle Area School District, Cumberland County, Pennsylvania, General Obligation Bonds,		9/09 at 100.00		A1 (4)		1,054,537
		Series 2004A, 5.000%, 9/01/20 (Pre-refunded 9/01/09) – FGIC Insured
		Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health
		System Project, Series 1999:
455		5.125%, 8/15/17 (Pre-refunded 2/15/09) – MBIA Insured		2/09 at 101.00		AA (4)		468,982
545		5.125%, 8/15/17 (Pre-refunded 2/15/09) – MBIA Insured		2/09 at 101.00		AA (4)		561,748
1,000		Philadelphia Authority for Industrial Development, Pennsylvania, Airport Revenue Bonds, Philadelphia		7/11 at 101.00		A+		1,000,890
		Airport 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%,		2/12 at 100.00		AAA		3,497,618
		2/01/31 (Pre-refunded 2/01/12) – FSA Insured
6,270		Total Pennsylvania						6,583,775
		Puerto Rico – 1.3%
3,000		Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003,		12/13 at 100.00		AA		3,075,810
		5.000%, 12/01/20
		Rhode Island – 2.3%
5,835		Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,		6/12 at 100.00		BBB		5,529,244
		Series 2002A, 6.250%, 6/01/42
		South Carolina – 5.1%
700		Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds,		12/14 at 100.00		A		715,029
		GROWTH, Series 2004, 5.250%, 12/01/20
620		Florence, South Carolina, Water and Sewerage Revenue Bonds, Series 2000, 5.750%, 3/01/20 –		3/10 at 101.00		AA		646,449
		AMBAC Insured
4,000		Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series		12/12 at 101.00		AA– (4)		4,442,280
		2002, 5.875%, 12/01/19 (Pre-refunded 12/01/12)
2,500		Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and		11/13 at 100.00		A+ (4)		2,773,675
		Improvement Bonds, Series 2003, 6.000%, 11/01/18 (Pre-refunded 11/01/13)
2,435		Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds,		8/14 at 100.00		AA		2,518,521
		Series 2004A, 5.250%, 2/15/21 – MBIA Insured
790		Piedmont Municipal Power Agency, South Carolina, Electric Revenue Refunding Bonds, Series		1/10 at 100.00		AA		745,089
		1998A, 4.750%, 1/01/25 – MBIA Insured
475		The College of Charleston, Charleston South Carolina, Academic and Administrative Revenue		4/14 at 100.00		A2		464,902
		Bonds, Series 2004B, 5.125%, 4/01/30 – XLCA Insured
11,520		Total South Carolina						12,305,945
		South Dakota – 0.4%
1,000		South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley		11/14 at 100.00		AA–		987,280
		Hospitals, Series 2004A, 5.250%, 11/01/34
		Texas – 11.8%
4,000		Brazos River Harbor Navigation District, Brazoria County, Texas, Environmental Facilities Revenue		5/12 at 101.00		A–		4,052,320
		Bonds, 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		1/15 at 100.00		BBB–		1,296,585
		Bonds, Series 2005, 5.000%, 1/01/45 – FGIC Insured
1,000		Dallas Area Rapid Transit, Texas, Senior Lien Sales Tax Revenue Bonds, Series 2001, 5.000%,		12/11 at 100.00		AAA		1,060,870
		12/01/31 (Pre-refunded 12/01/11) – AMBAC Insured
2,500		Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Texas		No Opt. Call		AA (4)		2,742,600
		Children’s Hospital, Series 1995, 5.500%, 10/01/16 – MBIA Insured (ETM)
3,000		Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds,		11/13 at 100.00		AA		2,971,920
		TECO Project, Series 2003, 5.000%, 11/15/30 – MBIA Insured
6,610		Harris County-Houston Sports Authority, Texas, Junior Lien Revenue Bonds, Series 2001H,		11/31 at 53.78		AA		831,208
		0.000%, 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		2,032,520
		FSA Insured (Alternative Minimum Tax)
3,125		Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General		2/12 at 100.00		AAA		3,312,125
		Obligation Bonds, Series 2002A, 5.000%, 2/15/32 (Pre-refunded 2/15/12)
1,400		Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson		No Opt. Call		BBB–		1,264,396
		Memorial Hospital Project, Series 2005, 5.375%, 8/15/35
90		Lewisville Independent School District, Denton County, Texas, General Obligation Bonds, Series		8/11 at 100.00		AAA		91,606
		2004, 5.000%, 8/15/23
910		Lewisville Independent School District, Denton County, Texas, General Obligation Bonds, Series		8/11 at 100.00		AAA		962,644
		2004, 5.000%, 8/15/23 (Pre-refunded 8/15/11)
4,750		Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds,		10/12 at 100.00		A		4,943,753
		Series 2002A, 5.500%, 10/01/17 – RAAI Insured
1,000		San Antonio, Texas, Water System Revenue Bonds, Series 2005, 4.750%, 5/15/37 – MBIA Insured		5/15 at 100.00		AA		961,960
500		Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 2000A,		7/10 at 100.00		AAA		523,995
		5.625%, 7/15/13
1,560		Texas, General Obligation Bonds, Water Financial Assistance Program, Series 2003A, 5.125%,		8/13 at 100.00		Aa1		1,482,468
		8/01/42 (Alternative Minimum Tax)
33,945		Total Texas						28,530,970
		Utah – 0.6%
1,435		Salt Lake City and Sandy Metropolitan Water District, Utah, Water Revenue Bonds, Series 2004,		7/14 at 100.00		Aa3		1,477,318
		5.000%, 7/01/21 – AMBAC Insured
		Vermont – 1.2%
2,895		Vermont Housing Finance Agency, Multifamily Housing Bonds, Series 1999C, 5.800%, 8/15/16 –		2/09 at 100.00		AAA		2,920,881
		FSA Insured
		Virginia – 0.3%
510		Metropolitan District of Columbia Airprots Authority, Virginia, Airport System Revenue Bonds,		10/08 at 101.00		AA		483,817
		Series 1998B, 5.000%, 10/01/28 – MBIA Insured (Alternative Minimum Tax)
250		Norfolk, Virginia, Water Revenue Bonds, Series 1995, 5.750%, 11/01/13 – MBIA Insured		11/08 at 100.00		AA		250,628
760		Total Virginia						734,445
		Washington – 2.8%
6,715		Washington State Healthcare Facilities Authority, Revenue Bonds, Sisters of Providence Health		10/11 at 100.00		AA		6,865,280
		System, Series 2001A, 5.125%, 10/01/17 – MBIA Insured
		Wisconsin – 1.6%
1,000		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan		8/13 at 100.00		A–		979,440
		Services Inc., Series 2003A, 5.500%, 8/15/18
2,790		Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Series		3/12 at 100.00		AA		2,845,214
		2002G, 4.850%, 9/01/17
3,790		Total Wisconsin						3,824,654
$       261,495		Total Municipal Bonds (cost $241,396,160)						238,705,582
Shares		Description (1)						Value
		Common Stocks – 0.0%
		Airlines – 0.0%
757		UAL Corporation, (5)					$	3,952
		Total Common Stocks (cost $0)						3,952
		Total Investments (cost $241,396,160) – 98.7%						238,709,534
		Floating Rate Obligations – (0.6)%						(1,500,000)
		Other Assets Less Liabilities – 1.9%						4,658,130
		Net Assets – 100%					$	241,867,664

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(1)		All percentages shown in the Portfolio of Investments are based on net assets.
(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 Portfolio of Investments may reflect the ratings on certain bonds insured by ACA, AMBAC, CIFG, FGIC,
		MBIA, RAAI and XLCA as of June 30, 2008. Subsequent to June 30, 2008, and during the period this
		Portfolio of Investments was prepared, there may have been reductions to the ratings of certain bonds
		resulting from changes to the ratings of the underlying insurers both during the period and after period
		end. Such reductions would likely reduce the effective rating of many of the bonds insured by that insurer
		or insurers presented at period end.
(4)		Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities
		which ensure the timely payment of principal and interest. Such investments are normally considered to be
		equivalent to AAA rated securities.
(5)		On December 9, 2002, UAL Corporation (“UAL”), the holding company of United Air Lines, Inc. (“United”)
		filed for federal bankruptcy protection. The Adviser determined that it was likely that United would not
		remain current on their interest payment obligations with respect to the bonds previously held and thus
		the Fund had stopped accruing interest on its UAL bonds. On February 1, 2006, UAL emerged from federal
		bankruptcy with the acceptance of its reorganization plan by the bankruptcy court. Under the settlement
		agreement established to meet UAL’s unsecured bond obligations, the bondholders, including the Fund,
		received three distributions of UAL common stock over the subsequent months, and the bankruptcy court
		dismissed all unsecured claims of bondholders, including those of the Fund. On May 5, 2006, the Fund
		liquidated such UAL common stock holdings. On September 29, 2006 and May 30, 2007, the Fund received
		additional distributions of 1,825 and 592 shares, respectively, of UAL common stock as a result of its
		earlier ownership of the UAL bonds. The Fund liquidated 1,825 shares of such UAL common stock holdings
		on November 15, 2006. The Fund received an additional distribution of 165 UAL common stock shares
		on November 14, 2007. The remaining 757 shares of UAL common stock were still held by the Fund at
		June 30, 2008.
N/R		Not rated.
(ETM)		Escrowed to maturity.
(IF)		Inverse floating rate investment.
(UB)		Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the
		provisions of SFAS No. 140.

Fair Value Measurements

During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157). SFAS 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Fund’s investments various inputs are used. These inputs are summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest

rates, prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including management’s assumptions in determining the

fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the Fund’s fair value measurements as of June 30, 2008:

		Level 1		Level 2		Level 3		Total
Investments		$3,952		$238,705,582		$—		$238,709,534

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate 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 June 30, 2008, the cost of investments was $239,783,886.

Gross unrealized appreciation and gross unrealized depreciation of investments at June 30, 2008, were as follows:

Gross unrealized:
Appreciation		$ 6,138,215
Depreciation		(8,712,567)
Net unrealized appreciation (depreciation) of investments		$(2,574,352)

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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: 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)         Nuveen Select Tax-Free Income Portfolio 2         

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

Date         August 29, 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         August 29, 2008        

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

Date        August 29, 2008