Nuveen Virginia Premium Income Municipal Fund

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         811-7490         

        Nuveen Virginia Premium Income Municipal Fund         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         

(Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         

(Name and address of agent for service)

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

Date of fiscal year end:            05/31          

Date of reporting period:          02/28/05         

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 Virginia Premium Income Municipal Fund (NPV)
February 28, 2005


Principal

Optional Call

Market

Amount (000)

Description(1)

Provisions*

Ratings**

Value


Consumer Staples - 1.2% (0.8% of Total Investments)

 

$

1,615

Puerto Rico, The Children's Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series

5/12 at 100.00

BBB

$    1,598,656

   2002, 5.375%, 5/15/33


Education and Civic Organizations - 11.5% (8.0% of Total Investments)

 

3,500

Alexandria Industrial Development Authority, Virginia, Fixed Rate Revenue Bonds, Institute for

10/10 at 101.00

AAA

3,951,570

   Defense Analyses, Series 2000A, 5.900%, 10/01/30 - AMBAC Insured

 

Danville Industrial Development Authority, Virginia, Student Housing Revenue Bonds, Collegiate

Housing Foundation, Averett College Project, Series 1999A:

500

   6.875%, 6/01/20

6/09 at 102.00

N/R

494,355

1,500

   7.000%, 6/01/30

6/09 at 102.00

N/R

1,483,140

 

1,000

Prince William County Industrial Development Authority, Virginia, Educational Facilities Revenue

10/13 at 101.00

A3

1,047,380

   Bonds, Catholic Diocese of Arlington, Series 2003, 5.500%, 10/01/33

 

500

Prince William County Park Authority, Virginia, Park Facilities Revenue Refunding and Improvement

10/09 at 101.00

A3

535,830

   Bonds, Series 1999, 6.000%, 10/15/28

 

700

Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities

12/12 at 101.00

BBB

744,926

   Financing Authority, Higher Education Revenue Refunding Bonds, Ana G. Mendez University System,

   Series 2002, 5.375%, 12/01/21

 

500

Rockbridge County Industrial Development Authority, Virginia, Horse Center Revenue and Refunding

7/11 at 100.00

B2

470,970

   Bonds, Series 2001C, 6.850%, 7/15/21

 

2,000

Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher Education

No Opt. Call

Aa1

2,206,880

   Financing Program, Series 2004B, 5.000%, 9/01/13

 

2,120

Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher Education

9/11 at 100.00

AA+

2,204,079

   Financing Program, Series 2001A, 5.000%, 9/01/26

 

1,000

Virginia College Building Authority, Educational Facilities Revenue Bonds, Hampton University,

4/10 at 101.00

A+

1,109,190

   Series 2000, 6.000%, 4/01/20

 

1,635

Virginia Commonwealth University, Revenue Bonds, Series 2004A, 5.000%, 5/01/17 - AMBAC Insured

5/14 at 101.00

AAA

1,771,196


Healthcare - 22.8% (15.9% of Total Investments)

 

2,000

Albemarle County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Martha

10/12 at 100.00

A2

2,058,660

   Jefferson Hospital, Series 2002, 5.250%, 10/01/35

 

2,000

Danville Industrial Development Authority, Virginia, Hospital Revenue Bonds, Danville Regional

No Opt. Call

AAA

2,212,020

   Medical Center, Series 1998, 5.200%, 10/01/18 - AMBAC Insured

 

4,850

Fairfax County Industrial Development Authority, Virginia, Hospital Revenue Refunding Bonds, Inova

No Opt. Call

AA+

5,244,014

   Health System Hospitals Project, Series 1993A, 5.000%, 8/15/23

 

1,200

Fredericksburg Industrial Development Authority, Virginia, Revenue Bonds, MediCorp Health System,

6/12 at 100.00

A3

1,226,280

   Series 2002B, 5.125%, 6/15/33

 

1,000

Hanover County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Memorial

No Opt. Call

AAA

1,197,780

   Regional Medical Center Project, Series 1995, 6.375%, 8/15/18 - MBIA Insured

 

4,650

Hanover County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Bon Secours

8/05 at 102.00

AAA

4,791,035

   Health System Projects, Series 1995, 5.500%, 8/15/25 - MBIA Insured

 

1,500

Henrico County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours Health System

11/12 at 100.00

A-

1,576,680

   Inc., Series 2002A, 5.600%, 11/15/30

 

1,500

Henrico County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Bon Secours

No Opt. Call

AAA

1,851,975

   Health System Inc., Series 1996, 6.250%, 8/15/20 - MBIA Insured

 

Loudoun County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Loudoun Hospital

Center, Series 2002A:

375

   6.000%, 6/01/22

6/12 at 101.00

BBB

413,535

800

   6.100%, 6/01/32

6/12 at 101.00

BBB

868,144

 

1,950

Manassas Industrial Development Authority, Virginia, Hospital Revenue Bonds, Prince William

4/13 at 100.00

A2

2,023,398

   Hospital, Series 2002, 5.250%, 4/01/33

 

4,750

Medical College Virginia Hospital Authority, General Revenue Bonds, Series 1998, 5.125%, 7/01/23 -

7/08 at 102.00

AAA

4,941,663

   MBIA Insured

 

3,000

Roanoke Industrial Development Authority, Virginia, Hospital Revenue Bonds, Carilion Health System,

7/12 at 100.00

AAA

3,274,710

   Series 2002A, 5.500%, 7/01/19 - MBIA Insured


Housing/Multifamily - 3.1% (2.1% of Total Investments)

 

1,465

Arlington County Industrial Development Authority, Virginia, Multifamily Housing Revenue Bonds,

5/10 at 100.00

Aaa

1,561,031

   Patrick Henry Apartments, Series 2000, 6.050%, 11/01/32 (Alternative Minimum Tax) (Mandatory put

   11/01/20)

 

1,495

Henrico County Economic Development Authority, Virginia, GNMA Mortgage-Backed Securities Beth

7/09 at 102.00

AAA

1,654,786

   Sholom Assisted Living Revenue Bonds, Series 1999A, 5.900%, 7/20/29

 

1,000

Lynchburg Redevelopment and Housing Authority, Virginia, Vistas GNMA Mortgage-Backed Revenue Bonds,

4/10 at 102.00

AAA

1,037,520

   Series 2000A, 6.200%, 1/20/40 (Alternative Minimum Tax)


Housing/Single Family - 1.0% (0.6% of Total Investments)

 

350

Puerto Rico Housing Finance Authority, Mortgage-Backed Securities Program Home Mortgage Revenue

6/13 at 100.00

AAA

347,813

   Bonds, Series 2003A, 4.875%, 6/01/34 (Alternative Minimum Tax)

 

1,000

Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2001H-1, 5.350%,

7/11 at 100.00

AAA

1,014,520

   7/01/31 - MBIA Insured


Industrials - 1.5% (1.0% of Total Investments)

 

2,000

Charles County Industrial Development Authority, Virginia, Solid Waste Disposal Facility Revenue

No Opt. Call

BBB

2,078,100

   Refunding Bonds, USA Waste of Virginia Inc., Series 1999, 4.875%, 2/01/09 (Alternative Minimum Tax)


Long-Term Care - 1.7% (1.2% of Total Investments)

 

Winchester Industrial Development Authority, Virginia, Residential Care Facility First Mortgage

Revenue Bonds, Westminster-Canterbury of Winchester Inc., Series 1998:

1,350

   5.750%, 1/01/18

7/05 at 100.00

N/R

1,350,473

1,000

   5.750%, 1/01/27

7/05 at 100.00

N/R

999,970


Materials - 1.8% (1.3% of Total Investments)

 

500

Bedford County Industrial Development Authority, Virginia, Industrial Development Revenue Refunding

2/08 at 102.00

Ba3

499,995

   Bonds, Nekoosa Packaging Corporation, Series 1998, 5.600%, 12/01/25 (Alternative Minimum Tax)

 

1,000

Goochland County Industrial Development Authority, Virginia, Industrial Development Revenue

12/08 at 101.00

Ba3

996,510

   Refunding Bonds, Nekoosa Packaging Corporation Project, Series 1998, 5.650%, 12/01/25 (Alternative

   Minimum Tax)

 

1,000

Isle of Wight County Industrial Development Authority, Virginia, Solid Waste Disposal Facilities

5/07 at 102.00

BBB

1,029,560

   Revenue Bonds, Union Camp Corporation Project, Series 1997, 6.100%, 5/01/27 (Alternative Minimum Tax)


Tax Obligation/General - 19.7% (13.7% of Total Investments)

 

900

Alexandria, Virginia, General Obligation Bonds, Series 2004B, 5.000%, 6/15/13

No Opt. Call

AAA

999,108

 

900

Alexandria, Virginia, General Obligation Bonds, Series 2004C, 5.000%, 12/15/11

No Opt. Call

AAA

994,689

 

Chesapeake, Virginia, General Obligation Water and Sewer Bonds, Series 2003B:

1,880

   5.000%, 6/01/21

6/13 at 100.00

AA

2,003,648

2,060

   5.000%, 6/01/23

6/13 at 100.00

AA

2,182,282

 

1,355

Harrisonburg, Virginia, General Obligation Bonds, Public Safety and Steam Plant, Series 2002,

7/12 at 101.00

AAA

1,453,617

   5.000%, 7/15/19 - FGIC Insured

 

1,920

Loudoun County, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 7/01/14

No Opt. Call

Aaa

2,132,352

 

105

Loudoun County, Virginia, General Obligation Public Improvement Bonds, Series 2002A, 5.250%,

5/12 at 100.00

Aaa

115,009

   5/01/22

 

1,185

Lynchburg, Virginia, General Obligation Bonds, Series 2004, 5.000%, 6/01/21

6/14 at 100.00

AA

1,272,548

 

Newport News, Virginia, General Obligation Bonds, General Improvement and Water Projects, Series

2002A:

2,770

   5.000%, 7/01/19

7/13 at 100.00

AA

2,973,817

1,000

   5.000%, 7/01/20

7/13 at 100.00

AA

1,070,140

 

1,350

Newport News, Virginia, General Obligation Bonds, Series 2004C, 5.000%, 5/01/16

5/14 at 101.00

AA

1,481,234

 

1,400

Northern Mariana Islands, General Obligation Bonds, Series 2000A, 6.000%, 6/01/20 - ACA Insured

6/10 at 100.00

A

1,493,534

 

1,000

Portsmouth, Virginia, General Obligation Bonds, Series 2003, 5.000%, 7/01/12 - FSA Insured

No Opt. Call

AAA

1,102,110

 

1,480

Richmond, Virginia, General Obligation Bonds, Series 2004A, 5.000%, 7/15/21 - FSA Insured

7/14 at 100.00

AAA

1,586,974

 

1,430

Roanoke, Virginia, General Obligation Public Improvement Bonds, Series 2002A, 5.000%, 10/01/17

10/12 at 101.00

AA

1,552,151

 

1,425

Virginia Beach, Virginia, General Obligation Public Improvement Bonds, Series 2001, 5.000%,

6/11 at 101.00

AA+

1,523,225

   6/01/20

 

2,155

Virginia Beach, Virginia, General Obligation Bonds, Series 2003B, 5.000%, 5/01/15

5/13 at 100.00

AA+

2,349,381

 

1,000

Virginia Beach, Virginia, General Obligation Bonds, Series 2004B, 5.000%, 5/01/13

No Opt. Call

AA+

1,101,910


Tax Obligation/Limited - 26.2% (18.3% of Total Investments)

 

Cumberland County, Virginia, Certificates of Participation, Series 1997:

1,075

   6.200%, 7/15/12

No Opt. Call

N/R

1,192,261

1,350

   6.375%, 7/15/17

No Opt. Call

N/R

1,538,514

 

500

Dinwiddie County Industrial Development Authority, Virginia, Lease Revenue Bonds, Dinwiddie County

2/07 at 102.00

N/R

521,470

   School Facilities, Series 1997A, 6.000%, 2/01/18

 

1,000

Dinwiddie County Industrial Development Authority, Virginia, Lease Revenue Bonds, Series 2004B,

2/14 at 100.00

AAA

1,094,680

   5.125%, 2/15/16 - MBIA Insured

 

Fairfax County Economic Development Authority, Virginia, Lease Revenue Bonds, Laurel Hill Public

Facilities Project, Series 2003:

2,260

   5.000%, 6/01/14

6/13 at 101.00

AA+

2,483,650

2,165

   5.000%, 6/01/22

6/13 at 101.00

AA+

2,308,626

 

1,000

Fairfax County Economic Development Authority, Virginia, Parking Revenue Bonds, Vienna II Metrorail

9/09 at 102.00

AA

1,135,600

   Station Project, 1999 First Series, 6.000%, 9/01/18

 

1,660

Front Royal and Warren County Industrial Development Authority, Virginia, Lease Revenue Bonds,

4/14 at 100.00

AAA

1,782,159

   Series 2004B, 5.000%, 4/01/18 - FSA Insured

 

2,000

Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2002D, 5.000%,

7/12 at 100.00

AAA

2,082,120

   7/01/32 - FSA Insured

 

Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding Bonds,

Series 2002D:

265

   5.250%, 7/01/27

7/12 at 100.00

A-

281,033

320

   5.250%, 7/01/36

7/12 at 100.00

A-

337,238

 

1,110

Spotsylvania County Industrial Development Authority, Virginia, Lease Revenue Bonds, School

8/13 at 100.00

AAA

1,125,596

   Facilities, Series 2003B, 4.375%, 8/01/20 - AMBAC Insured

 

2,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Notes, Series 1999A, 6.500%,

10/10 at 101.00

BBB

2,296,740

   10/01/24

 

1,855

Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College

No Opt. Call

AA+

2,029,147

   Program, Series 2004A, 5.000%, 2/01/11

 

2,000

Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College

2/12 at 100.00

AA+

2,115,160

   Program, Series 2002A, 5.000%, 2/01/22

 

2,250

Virginia Transportation Board, Transportation Revenue Bonds, Northern Virginia Transportation

No Opt. Call

AA+

2,483,888

   District Program, Series 2004A, 5.000%, 5/15/14

 

2,000

Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2004B, 5.000%, 8/01/11

No Opt. Call

AA+

2,194,980

 

875

Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2004C, 5.000%,

No Opt. Call

AA+

960,304

   8/01/11

 

2,000

Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2000B, 5.000%,

8/10 at 101.00

AA+

2,150,540

   8/01/18

 

Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Loan Bond Program, Series 2000B:

1,120

   5.500%, 5/01/20 - FSA Insured

5/10 at 101.00

AAA

1,235,046

3,060

   5.500%, 5/01/30 - FSA Insured

5/10 at 101.00

AAA

3,343,907

 

1,740

Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Loan Bond Program, Series 2002A,

5/11 at 101.00

AA

1,864,880

   5.000%, 5/01/19


Transportation - 12.6% (8.8% of Total Investments)

 

1,400

Metropolitan District of Columbia Airports Authority, Virginia, Airport System Revenue Bonds,

10/07 at 101.00

Aa3

1,447,978

   Series 1997A, 5.375%, 10/01/23

 

4,000

Norfolk Airport Authority, Virginia, Airport Revenue Bonds, Series 2001A, 5.125%, 7/01/31 - FGIC

7/11 at 100.00

AAA

4,143,280

   Insured

 

530

Pocahontas Parkway Association, Virginia, Senior Lien Revenue Bonds, Route 895 Connector Toll Road,

8/08 at 102.00

BB

515,430

   Series 1998A, 5.500%, 8/15/28

 

2,500

Richmond Metropolitan Authority, Virginia, Revenue Refunding Bonds, Expressway System, Series 2002,

No Opt. Call

AAA

2,843,025

   5.250%, 7/15/22 - FGIC Insured

 

6,065

Virginia Port Authority, Revenue Bonds, Port Authority Facilities, Series 1997, 5.600%, 7/01/27

7/07 at 101.00

AAA

6,394,026

   (Alternative Minimum Tax) - MBIA Insured

 

2,000

Virginia Resources Authority, Airports Revolving Fund Revenue Bonds, Series 2001A, 5.250%, 8/01/23

2/11 at 100.00

Aa2

2,144,400


U.S. Guaranteed *** - 12.9% (9.0% of Total Investments)

 

335

Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage Revenue

7/05 at 102.00

A***

345,633

   Bonds, Arlington Housing Corporation, Series 1995, 5.700%, 7/01/07 (Pre-refunded to 7/01/05)

 

750

Bristol, Virginia, General Obligation Utility System Revenue Bonds, Series 2002, 5.000%, 11/01/24 -

11/12 at 102.00

AAA

827,843

   FSA Insured

 

1,380

Puerto Rico, The Children's Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2000,

7/10 at 100.00

AAA

1,480,147

   5.750%, 7/01/20 (Pre-refunded to 7/01/10)

 

Greater Richmond Convention Center Authority, Virginia, Hotel Tax Revenue Bonds, Convention Center

Expansion Project, Series 2000:

600

   6.125%, 6/15/25 (Pre-refunded to 6/15/10)

6/10 at 101.00

A***

676,320

2,000

   6.125%, 6/15/29 (Pre-refunded to 6/15/10)

6/10 at 101.00

A***

2,254,400

 

Hampton, Virginia, General Obligation Public Improvement Bonds, Series 2000:

890

   5.750%, 2/01/17 (Pre-refunded to 2/01/10)

2/10 at 102.00

AA***

1,014,912

2,000

   6.000%, 2/01/20 (Pre-refunded to 2/01/10)

2/10 at 102.00

AA***

2,303,420

 

480

Loudoun County, Virginia, General Obligation Public Improvement Bonds, Series 2002A, 5.250%,

5/12 at 100.00

Aaa

537,000

   5/01/22 (Pre-refunded to 5/01/12)

 

1,230

Middlesex County Industrial Development Authority, Virginia, Lease Revenue Bonds, School Facilities

8/09 at 102.00

AAA

1,406,419

   Project, Series 1999, 6.000%, 8/01/24 (Pre-refunded to 8/01/09) - MBIA Insured

 

2,500

Puerto Rico Infrastructure Financing Authority, Special Obligation Bonds, Series 2000A, 5.500%,

10/10 at 101.00

AAA

2,755,700

   10/01/40

 

Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding Bonds,

Series 2002D:

735

   5.250%, 7/01/27 (Pre-refunded to 7/01/12)

7/12 at 100.00

A-***

812,844

880

   5.250%, 7/01/36 (Pre-refunded to 7/01/12)

7/12 at 100.00

A-***

973,201

 

2,250

Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College

2/09 at 101.00

AA+***

2,528,370

   Program, Series 2000, 6.000%, 2/01/20 (Pre-refunded to 2/01/09)


Utilities - 11.4% (7.9% of Total Investments)

 

Bristol, Virginia, Utility System Revenue Refunding Bonds, Series 2003:

1,705

   5.250%, 7/15/14 - MBIA Insured

7/13 at 100.00

AAA

1,898,159

1,800

   5.250%, 7/15/15 - MBIA Insured

7/13 at 100.00

AAA

1,998,018

2,775

   5.250%, 7/15/23 - MBIA Insured

7/13 at 100.00

AAA

3,019,200

 

2,500

Mecklenburg County Industrial Development Authority, Virginia, Revenue Bonds, UAE Mecklenburg

10/12 at 100.00

A3

2,805,150

   Cogeneration LP, Series 2002, 6.500%, 10/15/17 (Alternative Minimum Tax)

 

3,500

Richmond, Virginia, Public Utility Revenue Refunding Bonds, Series 1998A, 5.125%, 1/15/28 - FGIC Insured

1/08 at 101.00

AAA

3,668,700

 

Richmond, Virginia, Public Utility Revenue Refunding Bonds, Series 2002:

750

   5.000%, 1/15/27 - FSA Insured

1/12 at 100.00

AAA

779,363

1,600

   5.000%, 1/15/33 - FSA Insured

1/12 at 100.00

AAA

1,651,104


Water and Sewer - 16.4% (11.4% of Total Investments)

 

2,000

Fairfax County Water Authority, Virginia, Water Revenue Bonds, Series 2000, 5.625%, 4/01/25

4/10 at 101.00

AAA

2,204,480

 

Fairfax County Water Authority, Virginia, Water Revenue Refunding Bonds, Series 2002:

2,030

   5.375%, 4/01/19

4/12 at 100.00

AAA

2,248,996

1,000

   5.000%, 4/01/27

4/12 at 100.00

AAA

1,043,910

 

1,650

Henrico County, Virginia, Water and Sewer System Revenue Refunding Bonds, Series 1999, 5.000%,  

5/09 at 102.00

AA+

1,700,672

   5/01/28

 

1,000

Loudoun County Sanitation Authority, Water and Sewerage System Revenue Bonds, Series 2004, 5.000%,

1/15 at 100.00

AA+

1,060,170

   1/01/26

 

6,200

Norfolk, Virginia, Water Revenue Bonds, Series 1995, 5.875%, 11/01/20 - MBIA Insured

11/05 at 102.00

AAA

6,452,278

 

Norfolk, Virginia, Water Revenue Refunding Bonds, Series 2001

1,310

5.000%, 11/01/21 - FGIC Insured

11/11 at 100.00

AAA

1,375,435

1,380

5.000%, 11/01/22 - FGIC Insured

11/11 at 100.00

AAA

1,447,289

 

1,955

Rivanna Water and Sewerage Authority, Virginia, Regional Water and Sewerage System Revenue Bonds,

10/09 at 101.00

Aa3

2,147,272

   Series 1999, 5.625%, 10/01/29

 

2,250

Virginia Beach, Virginia, Storm Water Utility Revenue Bonds, Series 2000, 6.000%, 9/01/24

9/10 at 101.00

Aa3

2,567,582

 

500

Virginia Resources Authority, Clean Water State Revolving Fund Revenue Bonds, Series 1999, 5.625%,

10/10 at 100.00

AAA

556,740

   10/01/22


$

185,655

Total Long-Term Investments (cost $187,521,849) - 143.8%

199,842,478



Other Assets Less Liabilities - 2.1%

2,935,592


Preferred Shares, at Liquidation Value - (45.9)%

(63,800,000)


Net Assets Applicable to Common Shares - 100%

$138,978,070


(1)  

All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares

unless otherwise noted.

*  

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.

**  

Ratings: Using the higher of Standard & Poor's or Moody's rating.

***  

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.

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 income on taxable market

discount securities and timing differences in recognizing certain gains and losses on security transactions.

At February 28, 2005, the cost of investments was $187,292,500.

Gross unrealized appreciation and gross unrealized depreciation of investments at February 28, 2005, were as

follows:


Gross unrealized:

   Appreciation

$12,701,429

   Depreciation

(151,451)


Net unrealized appreciation of investments

$12,549,978


 

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 Virginia Premium Income Municipal Fund        

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

Date         04/29/05        

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--Chief Administrative Officer (principal executive officer)        

Date         04/29/05        

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

Date         04/29/05        

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