Nuveen Tax Advantaged Total Return Strategy Fund (JTA) N-PX Annual report of proxy voting record

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF

REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21471

Nuveen Tax-Advantaged Total Return Strategy Fund

(Exact name of registrant as specified in charter)

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip Code)

Jessica R. Droeger - Vice President and Secretary

(Name and address of agent for service)

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

Date of fiscal year-end: December 31

Date of reporting period: June 30, 2004

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
06/10/04 - A	Albertson’s Inc. *ABS*		013104104			04/14/04		175,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Pamela G. Bailey — For
	1.2	Elect Director Teresa Beck — Withhold
	1.3	Elect Director Beth M. Pritchard — For
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Require a Majority Vote for the Election of Directors		Against	Against		ShrHoldr
	5	Amend Vote Requirements to Amend Articles/Bylaws/Charter		Against	For		ShrHoldr
	6	Submit Severance Agreement (Change-in-Control) to Shareholder Vote		Against	For		ShrHoldr
	7	Declassify the Board of Directors		Against	For		ShrHoldr
04/29/04 - A	Altria Group, Inc. *MO*		02209S103			03/08/04		130,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Product Warnings for Pregnant Women		Against	Against		ShrHoldr
	4	Report on Health Risks Associated with Cigarette Filters		Against	Against		ShrHoldr
	5	Political Contributions/Activities		Against	Against		ShrHoldr
	6	Cease Use of Light and Ultra Light in Cigarette Marketing		Against	Against		ShrHoldr
	7	Place Canadian Style Warnings on Cigarette Packaging		Against	Against		ShrHoldr
	8	Separate Chairman and CEO Positions		Against	For		ShrHoldr
05/21/04 - A	Aon Corp. *AOC*		037389103			03/24/04		285,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
05/26/04 - A	Bank of America Corp. *BAC*		060505104			04/07/04		60,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Change Date of Annual Meeting		Against	Against		ShrHoldr
	4	Adopt Nomination Procedures for the Board		Against	Against		ShrHoldr
	5	Charitable Contributions		Against	Against		ShrHoldr
	6	Establish Independent Committee to Review Mutual Fund Policy		Against	Against		ShrHoldr

Page 1

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
	7	Adopt Standards Regarding Privacy and Information Security		Against	Against		ShrHoldr
04/28/04 -A	ChevronTexaco Corp. *CVX*		166764100			03/01/04		40,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Adopt Shareholder Rights Plan (Poison Pill) Policy		For	For		Mgmt
	4	Amend Omnibus Stock Plan		For	For		Mgmt
	5	Report on Operational Impact of HIV/AIDS, TB, and Malaria Pandemic		Against	For		ShrHoldr
	6	Report on Political Contributions/Activities		Against	For		ShrHoldr
	7	Require Affirmative Vote of a Majority of the Shares to Elect Directors		Against	Against		ShrHoldr
	8	Report on Health and Environmental Initiatives in Ecuador		Against	For		ShrHoldr
	9	Report on Renewable Energy		Against	For		ShrHoldr
05/06/04 - A	Delphi Corp. *DPH*		247126105			03/08/04		300,000
	1	Elect Directors		For	Withhold		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	4	Approve Omnibus Stock Plan		For	For		Mgmt
	5	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
	6	Declassify the Board of Directors		Against	For		ShrHoldr
	7	Amend Workplace Code of Conduct		Against	For		ShrHoldr
04/23/04 - A	Dominion Resources, Inc. *D*		25746U109			02/27/04		70,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Submit Executive Compensation to Vote		Against	Against		ShrHoldr
05/25/04 - A	Fannie Mae *FNM*		313586109			04/06/04		117,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Employee Stock Purchase Plan		For	For		Mgmt
	4	Provide for Cumulative Voting		Against	For		ShrHoldr

Page 2

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/18/04 - A	FirstEnergy Corporation *FE*		337932107			03/23/04		135,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt
	4	Reduce Supermajority Vote Requirement		For	For		Mgmt
	5	Approve Deferred Compensation Plan		For	For		Mgmt
	6	Approve Deferred Compensation Plan		For	For		Mgmt
	7	Expense Stock Options		Against	For		ShrHoldr
	8	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
	9	Report on Political Contributions/Activities		Against	Against		ShrHoldr
	10	Submit Severance Agreement (Change-in-Control) to Shareholder Vote		Against	For		ShrHoldr
04/28/04 - A	IndyMac Bancorp, Inc. *NDE*		456607100			03/01/04		150,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
05/11/04 - A	International Paper Co. *IP*		460146103			03/17/04		110,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Martha F. Brooks — For
	1.2	Elect Director James A. Henderson — For
	1.3	Elect Director Robert D. Kennedy — For
	1.4	Elect Director W. Craig McClelland — Withhold
	1.5	Elect Director Robert M. Amen — For
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
	4	Amend Omnibus Stock Plan		For	For		Mgmt
	5	Limit Executive Compensation		Against	Against		ShrHoldr
05/25/04 - A	JP Morgan Chase & Co. *JPM*		46625H100			04/02/04		140,000
	1	Approve Merger Agreement		For	For		Mgmt
	2	Elect Directors		For	For		Mgmt

Page 3

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
	3	Ratify Auditors		For	For		Mgmt
	4	Amend Executive Incentive Bonus Plan		For	For		Mgmt
	5	Adjourn Meeting		For	Against		Mgmt
	6	Establish Term Limits for Directors		Against	Against		ShrHoldr
	7	Charitable Contributions		Against	Against		ShrHoldr
	8	Political Contributions		Against	Against		ShrHoldr
	9	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	10	Provide Adequate Disclosure for over the counter Derivatives		Against	Against		ShrHoldr
	11	Auditor Independence		Against	Against		ShrHoldr
	12	Submit Non-Employee Director Compensation to Vote		Against	Against		ShrHoldr
	13	Report on Pay Disparity		Against	Against		ShrHoldr
05/11/04 - A	Kerr-McGee Corp. *KMG*		492386107			03/12/04		100,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Establishment of an Office of the Board of Directors		Against	For		ShrHoldr
06/25/04 - S	Kerr-McGee Corp. *KMG*		492386107			05/20/04		215,000
	1	Approve Merger Agreement		For	For		Mgmt
04/29/04 - A	Kimberly-Clark Corp. *KMB*		494368103			03/01/04		75,000
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
05/11/04 - A	Loews Corp. *LTR*		540424207			03/15/04		200,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Support Legislation and Make Public Statements on Environmental Tobacco Smoke		Against	For		ShrHoldr
	5	Cease Charitable Contributions		Against	Against		ShrHoldr
05/12/04 - A	Newell Rubbermaid Inc. *NWL*		651229106			03/15/04		125,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt

Page 4

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/04/04 - A	Packaging Corporation of America *PKG*		695156109			03/15/04		175,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
05/10/04 - A	Pitney Bowes Inc. *PBI*		724479100			03/12/04		155,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Political Contributions/Activities		Against	For		ShrHoldr
05/05/04 - A	Raytheon Co. *RTN*		755111507			03/08/04		235,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Develop Ethical Criteria for Military Contracts		Against	Against		ShrHoldr
	4	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
	5	Declassify the Board of Directors		Against	For		ShrHoldr
	6	Implement MacBride Principles		Against	Against		ShrHoldr
	7	Expense Stock Options		Against	For		ShrHoldr
	8	Submit Executive Pension Benefit to Vote		Against	For		ShrHoldr
	9	Limit Executive Compensation		Against	Against		ShrHoldr
04/30/04 - A	SBC Communications Inc. *SBC*		78387G103			03/02/04		225,000
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Bylaws		For	For		Mgmt
	4	Report on Political Contributions/Activities		Against	Against		ShrHoldr
	5	Change Size of Board of Directors		Against	Against		ShrHoldr
04/20/04 - A	Sprint Corp. *FON*		852061100			02/20/04		200,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Gordon M. Bethune — For
	1.2	Elect Director E. Linn Draper, Jr. — For
	1.3	Elect Director Deborah A. Henretta — For
	1.4	Elect Director Linda Koch Lorimer — Withhold
	2	Ratify Auditors		For	For		Mgmt
	3	Performance - Based/Indexed Options		Against	For		ShrHoldr

Page 5

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
	4	Limit Executive Compensation Separate Chairman and CEO Positions Report on Foreign Outsourcing		Against	Against		ShrHoldr
	5			Against	For		ShrHoldr
	6			Against	Against		ShrHoldr
05/20/04 - A	The Hartford Financial Services Group, Inc. *HIG*		416515104			03/22/04		80,000
	1	Elect Directors Ratify Auditors Limit Executive Compensation		For	For		Mgmt
	2			For	For		Mgmt
	3			Against	Against		ShrHoldr
05/14/04 - A	Total S.A. (Formerly Total Fina Elf S.A)		89151E109			03/24/04		55,000
		Meeting for Holders of ADRs
	1	APPROVAL OF CERTAIN REPORTS AND OF THE PARENT COMPANY S FINANCIAL STATEMENTS		For	For		Mgmt
	2	APPROVAL OF CONSOLIDATED FINANCIAL STATEMENTS		For	For		Mgmt
	3	ALLOCATION OF INCOME, APPROVAL OF THE DIVIDEND		For	For		Mgmt
	4	AGREEMENTS MENTIONED IN ARTICLE L. 225-38 OF THE FRENCH COMMERCIAL CODE		For	For		Mgmt
	5	AUTHORIZATION TO TRADE THE COMPANY S OWN SHARES		For	For		Mgmt
	6	AUTHORIZATION FOR THE BOARD OF DIRECTORS TO ISSUE DEBT SECURITIES AND/OR PERPETUAL SUBORDINATED NOTES FOR A MAXIMUM NOMINAL AMOUNT OF 10 BILLION EUROS		For	For		Mgmt
	7	Elect Directors		For	For		Mgmt
	8	APPOINTMENT OF DANIEL BOEUF AS A DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION		For	For		Mgmt
	9	APPOINTMENT OF PHILIPPE MARCHANDISE AS A DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION		Against	Against		Mgmt

Page 6

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
	10	APPOINTMENT OF CYRIL MOUCHE AS A DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION		Against	Against		Mgmt
	11	APPOINTMENT OF ALAN CRAMER AS A DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION		Against	Against		Mgmt
	12	Ratify Auditors		For	For		Mgmt
	13	RENEWAL OF STATUTORY AUDITORS		For	For		Mgmt
	14	Ratify Auditors		For	For		Mgmt
	15	Ratify Auditors		For	For		Mgmt
	16	DETERMINATION OF THE TOTAL AMOUNT OF DIRECTORS COMPENSATION		For	For		Mgmt
	17	AUTHORIZATION TO AWARD OPTIONS TO SUBSCRIBE FOR OR PURCHASE STOCK OF THE COMPANY IN FAVOUR OF THE MANAGEMENT AND KEY EMPLOYEES OF THE GROUP		For	For		Mgmt
	18	AUTHORIZATION FOR ISSUING CONVERTIBLE OR OTHER EQUITY SECURITIES		For	For		Mgmt
	19	AUTHORIZATION TO USE THE ABOVE DELEGATION WITHOUT MAINTENANCE OF PREFERENTIAL SUBSCRIPTION RIGHTS, BUT WITH AN OPTION TO GRANT A PRIORITY PERIOD		For	For		Mgmt
	20	CAPITAL INCREASE RESERVED FOR EMPLOYEES		For	For		Mgmt
04/27/04 - A	Wells Fargo & Company *WFC*		949746101			03/09/04		100,000
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director J.A. Blanchard III — For
	1.2	Elect Director Susan E. Engel — For
	1.3	Elect Director Enrique Hernandez, Jr.— For
	1.4	Elect Director Robert L. Joss — For

Page 7

Vote Summary Report

Jan 01, 2004 - Jul 01, 2004

Nuveen Tax Advantaged Total Return Strategy Fund

Mtg Date/Type/Proponent	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
	1.5	Elect Director Reatha Clark King — For
	1.6	Elect Director Richard M. Kovacevich — For
	1.7	Elect Director Richard D. McCormick — For
	1.8	Elect Director Cynthia H. Milligan — For
	1.9	Elect Director Philip J. Quigley — For
	1.10	Elect Director Donald B. Rice — Withhold
	1.11	Elect Director Judith M. Runstad — Withhold
	1.12	Elect Director Stephen W. Sanger — For
	1.13	Elect Director Susan G. Swenson — For
	1.14	Elect Director Michael W. Wright — Withhold
	2	Approve Retirement Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Expense Stock Options		Agains	For		ShrHoldr
	5	Limit Executive Compensation		Against	Against		ShrHoldr
	6	Link Executive Compensation to Social Issues		Against	Against		ShrHoldr
	7	Report on Political Contributions/Activities		Against	Against		ShrHoldr

Page 8

SIGNATURES:

Pursuant to the requirements of 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.

Nuveen Tax-Advantaged Total Return Strategy Fund

By

/s/ Jessica R. Droeger - Vice President and Secretary

Date

August 30, 2004