In large lakes, metal availability sometimes limits the acquisition of nutrients (nitrogen, N and phosphorus, P) in offshore waters that are relatively isolated from tributaries and sediments. We hypothesize that metals may also be important within harmful algal blooms (HABs). HABs occur where nutrient loads are elevated, but bioassays often indicate that phytoplankton in HABs are N or P limited. Nutrient limitation may be exacerbated by corresponding limitations in several metals (i.e. nickel - Ni, molybdenum - Mo, zinc - Zn, and iron - Fe) that facilitate uptake and transformation of oxidized and organic forms of nutrients, such as urea, nitrate and organic phosphorus. The cyanotoxin microcystin has been hypothesized to have a role in metal management, so metal demand may also influence the toxicity of HABs. Here, we used nutrient diffusing substrates to measure how N, P, Ni, Mo, Zn and Fe amendments influenced the growth and toxicity of periphyton. Periphyton was grown suspended in 10 nearshore sites in Lake Michigan and Lake Erie (5 with and 5 without perennial HABs). Outside of blooms, we found no evidence for metal limitation or co-limitation. However, evidence for metal co-limitation was observed in two HABs sites (Zn in Green Bay and Zn, Mo, Ni and Fe in Sandusky Bay). N, P and Zn amendments all stimulated microcystin content in Maumee Bay. These data indicate that nutrient limitation occurs even within blooms, and the availability of metals may have an influence on growth, community composition and toxicity.