UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02105
Fidelity Salem Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | January 31 |
Date of reporting period: | January 31, 2023 |
Item 1.
Reports to Stockholders
![](https://capedge.com/proxy/N-CSR/0000035315-23-000161/img88778_1.jpg)
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Contents
Average Annual Total Returns | |||
Periods ended January 31, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Tax-Free Bond Fund | -4.38% | 2.16% | 2.63% |
$25,000 Over 10 Years |
Let's say hypothetically that $25,000 was invested in Fidelity® Tax-Free Bond Fund on January 31, 2013. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg 3+ Year Non-AMT Municipal Bond Index performed over the same period. |
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Top Five States (% of Fund's net assets) | |
Illinois | 14.9 |
New York | 6.5 |
Texas | 6.5 |
Pennsylvania | 6.3 |
Florida | 6.1 |
Revenue Sources (% of Fund's net assets) | ||
Health Care | 25.6% | |
General Obligations | 20.4% | |
Transportation | 17.1% | |
Education | 9.2% | |
Special Tax | 7.5% | |
State G.O. | 5.3% | |
Others* (Individually Less Than 5%) | 14.9% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
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We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 95.5% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 2.1% | |||
Auburn Univ. Gen. Fee Rev. Series 2018 A, 5% 6/1/43 | 1,700,000 | 1,838,965 | |
Homewood Edl. Bldg. Auth. Rev. Series 2019 A: | |||
4% 12/1/33 | 270,000 | 280,715 | |
4% 12/1/35 | 880,000 | 896,581 | |
4% 12/1/37 | 1,180,000 | 1,185,842 | |
4% 12/1/38 | 225,000 | 225,305 | |
4% 12/1/39 | 1,605,000 | 1,595,562 | |
4% 12/1/41 | 3,845,000 | 3,751,550 | |
4% 12/1/44 | 2,265,000 | 2,172,320 | |
4% 12/1/49 | 530,000 | 494,941 | |
Lower Alabama Gas District Bonds (No. 2 Proj.) Series 2020, 4%, tender 12/1/25 (b) | 23,020,000 | 23,124,198 | |
Montgomery Med. Clinic Facilities Series 2015: | |||
5% 3/1/26 | 55,000 | 55,906 | |
5% 3/1/27 | 110,000 | 111,393 | |
5% 3/1/28 | 120,000 | 121,383 | |
5% 3/1/29 | 100,000 | 100,986 | |
5% 3/1/30 | 120,000 | 120,949 | |
5% 3/1/36 | 2,315,000 | 2,230,720 | |
Southeast Energy Auth. Rev. Bonds: | |||
(Proj. No. 2) Series 2021 B1: | |||
4% 6/1/29 | 1,260,000 | 1,295,720 | |
4% 6/1/30 | 955,000 | 978,708 | |
4% 6/1/31 | 825,000 | 838,358 | |
Bonds (Proj. No. 2) Series 2021 B1, 4%, tender 12/1/31 (b) | 20,155,000 | 20,089,805 | |
TOTAL ALABAMA | 61,509,907 | ||
Alaska - 0.1% | |||
Alaska Int'l. Arpts. Revs. Series 2016 B: | |||
5% 10/1/31 | 1,590,000 | 1,699,056 | |
5% 10/1/33 | 2,075,000 | 2,204,233 | |
TOTAL ALASKA | 3,903,289 | ||
Arizona - 2.3% | |||
Arizona Board of Regents Ctfs. of Prtn. (Univ. of Arizona Univ. Revs.) Series 2018 B: | |||
5% 6/1/27 | 470,000 | 520,770 | |
5% 6/1/30 | 1,390,000 | 1,562,305 | |
Arizona Health Facilities Auth. Rev. (Banner Health Sys. Proj.) Series 2007 B, 3 month U.S. LIBOR + 0.810% 3.995%, tender 1/1/37 (b)(c) | 945,000 | 885,143 | |
Arizona Indl. Dev. Auth. Hosp. Rev. Series 2021 A: | |||
4% 2/1/38 | 1,415,000 | 1,432,476 | |
4% 2/1/39 | 1,415,000 | 1,424,778 | |
Arizona Indl. Dev. Auth. Lease Rev. Series 2020 A: | |||
4% 9/1/37 | 385,000 | 393,329 | |
4% 9/1/38 | 420,000 | 425,854 | |
4% 9/1/39 | 380,000 | 384,252 | |
4% 9/1/40 | 410,000 | 413,279 | |
4% 9/1/46 | 945,000 | 943,779 | |
5% 9/1/31 | 185,000 | 209,427 | |
5% 9/1/32 | 285,000 | 320,524 | |
5% 9/1/33 | 390,000 | 435,797 | |
5% 9/1/34 | 330,000 | 366,329 | |
Arizona Indl. Dev. Auth. Rev. (Provident Group-Eastern Michigan Univ. Parking Proj.) Series 2018: | |||
5% 5/1/37 | 1,030,000 | 798,980 | |
5% 5/1/43 | 945,000 | 678,538 | |
Arizona State Univ. Revs. Series 2021 C: | |||
5% 7/1/32 | 1,150,000 | 1,375,350 | |
5% 7/1/34 | 1,180,000 | 1,397,560 | |
5% 7/1/35 | 945,000 | 1,107,411 | |
Glendale Indl. Dev. Auth. (Terraces of Phoenix Proj.) Series 2018 A: | |||
5% 7/1/38 | 145,000 | 130,003 | |
5% 7/1/48 | 190,000 | 159,309 | |
Maricopa County Indl. Dev. Auth. (Creighton Univ. Proj.) Series 2020, 5% 7/1/47 | 1,890,000 | 2,022,441 | |
Maricopa County Indl. Dev. Auth. Sr. Living Facilities Series 2016: | |||
5.75% 1/1/36 (d) | 1,735,000 | 1,375,484 | |
6% 1/1/48 (d) | 3,290,000 | 2,378,133 | |
Maricopa County Rev.: | |||
Series 2017 D, 3% 1/1/48 | 4,000,000 | 3,150,545 | |
Series 2019 E, 3% 1/1/49 | 2,375,000 | 1,852,614 | |
Maricopa County Unified School District #48 Scottsdale Series 2017 B: | |||
5% 7/1/31 | 755,000 | 841,443 | |
5% 7/1/32 | 3,070,000 | 3,417,398 | |
Phoenix Civic Impt. Board Arpt. Rev.: | |||
Series 2017 B: | |||
5% 7/1/30 | 2,475,000 | 2,752,671 | |
5% 7/1/34 | 1,890,000 | 2,087,015 | |
5% 7/1/35 | 1,890,000 | 2,070,326 | |
Series 2019 A, 5% 7/1/44 | 5,300,000 | 5,743,454 | |
Phoenix Civic Impt. Corp. Series 2019 A: | |||
5% 7/1/30 | 1,040,000 | 1,182,525 | |
5% 7/1/32 | 335,000 | 378,145 | |
5% 7/1/36 | 560,000 | 613,565 | |
5% 7/1/37 | 490,000 | 533,660 | |
5% 7/1/38 | 785,000 | 851,801 | |
5% 7/1/45 | 6,800,000 | 7,240,969 | |
Phoenix Civic Impt. Corp. District Rev. (Plaza Expansion Proj.) Series 2005 B, 5.5% 7/1/38 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 4,720,000 | 5,962,372 | |
Phoenix IDA Student Hsg. Rev. (Downtown Phoenix Student Hsg. II LLC Arizona State Univ. Proj.) Series 2019 A: | |||
5% 7/1/49 | 1,060,000 | 1,065,149 | |
5% 7/1/54 | 3,335,000 | 3,343,924 | |
Salt Verde Finl. Corp. Sr. Gas Rev. Series 2007, 5.25% 12/1/23 | 2,360,000 | 2,389,027 | |
TOTAL ARIZONA | 66,617,854 | ||
California - 2.9% | |||
California Gen. Oblig. Series 2004: | |||
5.25% 12/1/33 | 35,000 | 35,078 | |
5.5% 4/1/30 | 5,000 | 5,013 | |
California Hsg. Fin. Agcy. Series 2021 1, 3.5% 11/20/35 | 1,690,335 | 1,637,767 | |
California Muni. Fin. Auth. Student Hsg. (CHF-Davis I, LLC - West Village Student Hsg. Proj.) Series 2018: | |||
5% 5/15/35 | 2,020,000 | 2,119,045 | |
5% 5/15/38 | 2,830,000 | 2,936,216 | |
5% 5/15/43 | 3,775,000 | 3,859,959 | |
California Pub. Fin. Auth. Univ. Hsg. Rev.: | |||
(Claremont Colleges Proj.) Series 2017 A, 5% 7/1/27 (d) | 340,000 | 331,875 | |
(NCCD - Claremont Properties LLC - Claremont Colleges Proj.) Series 2017 A, 5% 7/1/47 (d) | 280,000 | 277,324 | |
California Pub. Works Board Lease Rev. (Various Cap. Projs.) Series 2022 C, 5% 8/1/32 | 2,190,000 | 2,673,172 | |
California Statewide Cmntys. Dev. Auth. Series 2016: | |||
5% 5/15/25 | 945,000 | 980,050 | |
5% 5/15/26 | 945,000 | 993,692 | |
5% 5/15/27 | 945,000 | 993,091 | |
5% 5/15/28 | 945,000 | 990,389 | |
5% 5/15/32 | 1,180,000 | 1,224,369 | |
5% 5/15/33 | 1,415,000 | 1,465,141 | |
5% 5/15/40 | 945,000 | 963,843 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2015, 5% 2/1/45 | 2,150,000 | 1,799,544 | |
Mount Diablo Unified School District Series 2022 B: | |||
4% 8/1/29 | 1,800,000 | 1,998,829 | |
4% 8/1/32 | 1,100,000 | 1,237,046 | |
4% 8/1/33 | 1,425,000 | 1,584,311 | |
Poway Unified School District: | |||
(District #2007-1 School Facilities Proj.) Series 2008 A, 0% 8/1/32 | 1,225,000 | 926,207 | |
Series B: | |||
0% 8/1/33 | 4,105,000 | 2,982,881 | |
0% 8/1/37 | 7,555,000 | 4,430,913 | |
0% 8/1/38 | 3,990,000 | 2,227,710 | |
0% 8/1/39 | 6,815,000 | 3,610,493 | |
0% 8/1/41 | 4,625,000 | 2,208,007 | |
Poway Unified School District Pub. Fing. Series 2015 A: | |||
5% 9/1/27 | 990,000 | 1,042,384 | |
5% 9/1/30 | 1,295,000 | 1,350,891 | |
Sacramento City Fing. Auth. Rev. Series A, 0% 12/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,510,000 | 1,356,930 | |
San Diego Cmnty. College District Series 2011, 0% 8/1/35 | 2,830,000 | 1,872,610 | |
San Diego Unified School District: | |||
Series 2008 C: | |||
0% 7/1/34 | 1,225,000 | 857,875 | |
0% 7/1/37 | 4,820,000 | 2,867,624 | |
Series 2008 E, 0% 7/1/47 (e) | 2,455,000 | 1,882,338 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
Series 2019 B, 5% 5/1/49 | 2,765,000 | 2,975,970 | |
Series 2022 B, 5% 5/1/52 | 14,945,000 | 16,489,457 | |
San Marcos Unified School District Series 2010 B, 0% 8/1/47 | 3,495,000 | 1,287,788 | |
Santa Rosa Wastewtr. Rev. Series 2002 B, 0% 9/1/25 (AMBAC Insured) | 1,605,000 | 1,511,798 | |
Tobacco Securitization Auth. Southern California Tobacco Settlement Series 2019 A1: | |||
5% 6/1/27 | 945,000 | 1,018,747 | |
5% 6/1/28 | 1,425,000 | 1,558,409 | |
5% 6/1/29 | 945,000 | 1,045,443 | |
Univ. of California Revs. Series 2017 AV, 5% 5/15/36 | 1,520,000 | 1,674,164 | |
TOTAL CALIFORNIA | 83,284,393 | ||
Colorado - 0.8% | |||
Arkansas River Pwr. Auth. Rev. Series 2018 A: | |||
5% 10/1/38 | 1,370,000 | 1,404,769 | |
5% 10/1/43 | 5,485,000 | 5,540,245 | |
Colorado Health Facilities Auth. Rev. Bonds: | |||
(Parkview Episcopal Med. Ctr., Co. Proj.) Series 2017: | |||
5% 9/1/23 | 255,000 | 258,008 | |
5% 9/1/24 | 210,000 | 215,968 | |
5% 9/1/25 | 245,000 | 256,182 | |
5% 9/1/28 | 2,075,000 | 2,236,891 | |
(Parkview Med. Ctr., Inc. Proj.) Series 2016, 5% 9/1/46 | 3,495,000 | 3,569,641 | |
Series 2019 A, 4% 11/1/39 | 2,815,000 | 2,820,123 | |
Series 2019 A2: | |||
3.25% 8/1/49 | 2,700,000 | 2,048,344 | |
4% 8/1/49 | 4,390,000 | 4,127,843 | |
Series 2020 A, 4% 9/1/50 | 1,020,000 | 883,557 | |
Colorado Hsg. & Fin. Auth. Series 2019 H, 4.25% 11/1/49 | 825,000 | 842,088 | |
TOTAL COLORADO | 24,203,659 | ||
Connecticut - 2.5% | |||
Connecticut Gen. Oblig.: | |||
Series 2018 F, 5% 9/15/27 | 945,000 | 1,060,291 | |
Series 2020 A: | |||
4% 1/15/34 | 6,615,000 | 7,170,916 | |
5% 1/15/40 | 2,610,000 | 2,862,065 | |
Series 2021 A: | |||
3% 1/15/35 | 1,000,000 | 977,749 | |
3% 1/15/39 | 960,000 | 866,031 | |
3% 1/15/40 | 1,230,000 | 1,087,129 | |
Series 2021 B, 3% 6/1/40 | 1,000,000 | 882,583 | |
Series 2022 B, 3% 1/15/40 | 2,625,000 | 2,320,092 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
(Sacred Heart Univ., CT. Proj.) Series 2017 I-1: | |||
5% 7/1/34 | 990,000 | 1,069,519 | |
5% 7/1/35 | 1,135,000 | 1,216,399 | |
5% 7/1/36 | 380,000 | 404,219 | |
5% 7/1/37 | 1,470,000 | 1,556,975 | |
5% 7/1/42 | 3,570,000 | 3,728,566 | |
Bonds Series 2020 B, 5%, tender 1/1/27 (b) | 4,445,000 | 4,792,022 | |
Series 2016 K, 4% 7/1/46 | 4,215,000 | 3,855,573 | |
Series 2019 A: | |||
5% 7/1/34 (d) | 1,325,000 | 1,297,774 | |
5% 7/1/49 (d) | 1,925,000 | 1,689,065 | |
Series 2020 A, 4% 7/1/39 | 2,830,000 | 2,831,929 | |
Series 2020 C, 4% 7/1/45 | 3,985,000 | 3,881,873 | |
Series 2020 K: | |||
5% 7/1/37 | 945,000 | 1,034,925 | |
5% 7/1/38 | 1,415,000 | 1,543,206 | |
5% 7/1/39 | 1,465,000 | 1,590,608 | |
5% 7/1/44 (d) | 1,295,000 | 1,269,879 | |
Series 2021 S, 4% 6/1/51 | 1,120,000 | 1,057,623 | |
Series 2022 M: | |||
4% 7/1/37 | 3,305,000 | 3,241,148 | |
4% 7/1/52 | 1,680,000 | 1,614,947 | |
Series G, 5% 7/1/50 (d) | 1,100,000 | 1,060,508 | |
Series K1: | |||
5% 7/1/31 | 1,415,000 | 1,466,282 | |
5% 7/1/35 | 1,210,000 | 1,236,267 | |
Series N: | |||
4% 7/1/39 | 1,165,000 | 1,040,591 | |
4% 7/1/49 | 1,395,000 | 1,126,298 | |
5% 7/1/32 | 520,000 | 544,874 | |
5% 7/1/33 | 470,000 | 490,388 | |
5% 7/1/34 | 235,000 | 243,581 | |
Connecticut Hsg. Fin. Auth. Series 2019 B1, 4% 5/15/49 | 1,040,000 | 1,059,476 | |
Connecticut State Revolving Fund Gen. Rev. Series 2017 A, 5% 5/1/35 | 2,195,000 | 2,414,421 | |
Hbr. Point Infrastructure Impt. District Series 2017: | |||
5% 4/1/30 (d) | 2,295,000 | 2,334,504 | |
5% 4/1/39 (d) | 2,950,000 | 2,950,128 | |
New Haven Gen. Oblig. Series 2016 A, 5% 8/15/25 (Assured Guaranty Muni. Corp. Insured) | 540,000 | 572,298 | |
TOTAL CONNECTICUT | 71,442,722 | ||
District Of Columbia - 0.9% | |||
District of Columbia Gen. Oblig. Series 2017 A, 5% 6/1/33 | 2,170,000 | 2,415,293 | |
District of Columbia Hosp. Rev. Series 2015: | |||
5% 7/15/29 | 3,775,000 | 4,014,404 | |
5% 7/15/30 | 6,130,000 | 6,502,150 | |
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev. (Dulles Metrorail and Cap. Impt. Projs.): | |||
Series 2019 A: | |||
5% 10/1/33 | 1,180,000 | 1,314,077 | |
5% 10/1/34 | 1,890,000 | 2,099,541 | |
5% 10/1/36 | 1,890,000 | 2,061,473 | |
Series 2019 B, 3% 10/1/50 (Assured Guaranty Muni. Corp. Insured) | 4,210,000 | 3,248,675 | |
Washington D.C. Metropolitan Transit Auth. Rev. Series 2017 B, 5% 7/1/33 | 4,290,000 | 4,686,613 | |
TOTAL DISTRICT OF COLUMBIA | 26,342,226 | ||
Florida - 6.1% | |||
Brevard County Health Facilities Auth. Rev. Series 2023 A, 5% 4/1/32 (f)(g) | 2,220,000 | 2,502,275 | |
Broward County School Board Ctfs. of Prtn.: | |||
(Broward County School District Proj.) Series 2016 A, 5% 7/1/28 | 1,505,000 | 1,638,957 | |
Series 2016, 5% 7/1/32 | 965,000 | 1,038,375 | |
Cap. Projs. Fin. Auth. Student Hsg. Rev. (Cap. Projs. Ln. Prog. - Florida Univs.) Series 2020 A, 5% 10/1/29 | 1,650,000 | 1,707,511 | |
Central Florida Expressway Auth. Sr. Lien Rev. Series 2021: | |||
4% 7/1/34 (Assured Guaranty Muni. Corp. Insured) | 4,015,000 | 4,338,687 | |
4% 7/1/35 (Assured Guaranty Muni. Corp. Insured) | 3,890,000 | 4,167,961 | |
4% 7/1/37 (Assured Guaranty Muni. Corp. Insured) | 4,320,000 | 4,505,169 | |
4% 7/1/38 (Assured Guaranty Muni. Corp. Insured) | 2,700,000 | 2,803,890 | |
4% 7/1/39 (Assured Guaranty Muni. Corp. Insured) | 2,175,000 | 2,240,791 | |
Duval County School Board Ctfs. of Prtn. Series 2015 B, 5% 7/1/29 | 6,025,000 | 6,370,573 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Series 2020 A, 4% 8/15/45 | 2,255,000 | 2,142,708 | |
Florida Higher Edl. Facilities Fing. Auth.: | |||
(St. Leo Univ. Proj.) Series 2019, 5% 3/1/49 | 4,530,000 | 4,084,906 | |
Series 2019, 5% 10/1/27 | 615,000 | 654,720 | |
Florida Hsg. Fin. Corp. Rev. Series 2019 1, 4% 7/1/50 | 3,140,000 | 3,179,434 | |
Florida Mid-Bay Bridge Auth. Rev.: | |||
Series 2015 A, 5% 10/1/35 | 2,455,000 | 2,532,250 | |
Series 2015 C, 5% 10/1/35 | 1,890,000 | 1,941,741 | |
Florida Muni. Pwr. Agcy. Rev.: | |||
(Pwr. Supply Proj.) Series 2017 A, 5% 10/1/28 | 380,000 | 430,358 | |
(Requirements Pwr. Supply Proj.) Series 2016 A: | |||
5% 10/1/30 | 930,000 | 1,008,495 | |
5% 10/1/31 | 1,015,000 | 1,097,343 | |
Series 2015 B, 5% 10/1/29 | 1,180,000 | 1,255,737 | |
Gainesville Utils. Sys. Rev. Series 2017 A, 5% 10/1/35 | 4,720,000 | 5,191,305 | |
Halifax Hosp. Med. Ctr. Rev. Series 2015: | |||
5% 6/1/24 | 790,000 | 811,034 | |
5% 6/1/28 (Pre-Refunded to 6/1/25 @ 100) | 620,000 | 657,975 | |
Hillsborough County School Board Ctfs. of Prtn. Series 2015 A, 5% 7/1/26 | 7,555,000 | 7,973,778 | |
Jacksonville Health Care Facilities (Baptist Med. Ctr. Proj.) Series 2017: | |||
5% 8/15/26 | 1,890,000 | 2,053,442 | |
5% 8/15/34 | 2,595,000 | 2,836,853 | |
Miami Beach Health Facilities Auth. Hosp. Rev. Series 2014 A, 5% 11/15/39 | 1,445,000 | 1,467,884 | |
Miami-Dade County Aviation Rev. Series 2020 A: | |||
4% 10/1/35 | 1,510,000 | 1,566,919 | |
4% 10/1/41 | 1,135,000 | 1,132,360 | |
5% 10/1/31 | 2,020,000 | 2,342,905 | |
Miami-Dade County Expressway Auth.: | |||
Series 2010 A, 5% 7/1/40 | 3,115,000 | 3,118,804 | |
Series 2014 A: | |||
5% 7/1/25 | 1,350,000 | 1,386,600 | |
5% 7/1/27 | 945,000 | 971,017 | |
5% 7/1/28 | 2,100,000 | 2,157,521 | |
5% 7/1/29 | 955,000 | 981,025 | |
5% 7/1/44 | 15,860,000 | 16,109,259 | |
Series 2014 B, 5% 7/1/30 | 2,360,000 | 2,423,982 | |
Miami-Dade County Gen. Oblig. Series 2020, 2.25% 7/1/38 | 1,000,000 | 792,420 | |
Miami-Dade County School Board Ctfs. of Prtn.: | |||
Series 2015 A, 5% 5/1/29 | 11,680,000 | 12,294,076 | |
Series 2016 A, 5% 5/1/32 | 9,440,000 | 10,044,355 | |
Series 2016 B, 5% 8/1/26 | 4,255,000 | 4,616,038 | |
Palm Beach County School Board Ctfs. of Prtn.: | |||
Series 2015 D, 5% 8/1/28 | 1,870,000 | 1,981,836 | |
Series 2018 A, 5% 8/1/24 | 720,000 | 746,528 | |
Pinellas County Idr (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc. Proj.) Series 2019: | |||
5% 7/1/29 | 200,000 | 204,158 | |
5% 7/1/39 | 400,000 | 398,471 | |
Saint Lucie County School Board Ctfs. of Prtn. Series 2013 A, 5% 7/1/26 | 2,375,000 | 2,397,473 | |
South Florida Wtr. Mgmt. District Ctfs. of Prtn. Series 2015: | |||
5% 10/1/27 | 470,000 | 509,706 | |
5% 10/1/28 | 3,775,000 | 4,093,912 | |
5% 10/1/30 | 1,890,000 | 2,045,449 | |
5% 10/1/32 | 3,125,000 | 3,363,184 | |
South Miami Health Facilities Auth. Hosp. Rev. (Baptist Med. Ctr., FL. Proj.) Series 2017: | |||
5% 8/15/29 | 1,395,000 | 1,532,334 | |
5% 8/15/32 | 3,700,000 | 4,030,064 | |
5% 8/15/35 | 665,000 | 712,436 | |
5% 8/15/37 | 4,720,000 | 4,990,698 | |
5% 8/15/42 | 3,210,000 | 3,321,152 | |
5% 8/15/47 | 4,910,000 | 5,051,023 | |
Tallahassee Health Facilities Rev.: | |||
(Tallahassee Memorial Healthcare, Inc. Proj.) Series 2016 A: | |||
5% 12/1/29 | 1,345,000 | 1,405,648 | |
5% 12/1/36 | 1,040,000 | 1,066,445 | |
Series 2015 A, 5% 12/1/40 | 945,000 | 960,161 | |
Volusia County Edl. Facilities Auth. Rev. (Embry-Riddle Aeronautical Univ., Inc. Proj.) Series 2020 A: | |||
5% 10/15/44 | 720,000 | 765,395 | |
5% 10/15/49 | 1,340,000 | 1,416,958 | |
Volusia County School Board Ctfs. of Prtn. (Florida Master Lease Prog.) Series 2016 A: | |||
5% 8/1/30 (Build America Mutual Assurance Insured) | 1,095,000 | 1,173,505 | |
5% 8/1/31 (Build America Mutual Assurance Insured) | 2,090,000 | 2,236,717 | |
TOTAL FLORIDA | 174,974,686 | ||
Georgia - 3.9% | |||
Brookhaven Dev. Auth. Rev. Series 2019 A, 5% 7/1/36 | 1,435,000 | 1,604,760 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev.: | |||
(Georgia Transmission Corp. Proj.) Series 2012, 2.75% 1/1/52 (b) | 2,900,000 | 2,031,350 | |
Bonds (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2013 1st, 2.925%, tender 3/12/24 (b) | 9,065,000 | 8,990,963 | |
Coweta County Dev. Auth. Rev. (Piedmont Healthcare, Inc. Proj.) Series 2019 A, 5% 7/1/44 | 6,080,000 | 6,399,590 | |
DeKalb Private Hosp. Auth. Rev. Series 2019 B, 5% 7/1/35 | 1,285,000 | 1,451,309 | |
Fulton County Dev. Auth. Rev.: | |||
Series 2019 C, 5% 7/1/38 | 1,160,000 | 1,279,018 | |
Series 2019, 4% 6/15/49 | 1,115,000 | 1,104,225 | |
Gainesville & Hall County Hosp. Auth. Rev. Series 2020 A, 3% 2/15/47 | 9,015,000 | 7,107,647 | |
Georgia Muni. Elec. Auth. Pwr. Rev. Series 2019 A: | |||
4% 1/1/49 | 5,760,000 | 5,479,961 | |
5% 1/1/30 | 390,000 | 436,278 | |
5% 1/1/32 | 885,000 | 986,136 | |
5% 1/1/34 | 1,815,000 | 2,007,263 | |
5% 1/1/35 | 875,000 | 958,804 | |
5% 1/1/36 | 1,075,000 | 1,161,671 | |
5% 1/1/37 | 1,055,000 | 1,131,522 | |
5% 1/1/38 | 1,085,000 | 1,156,520 | |
5% 1/1/44 | 2,825,000 | 2,937,626 | |
Hosp. Auth. of Savannah Auth. Rev. Series 2019 A: | |||
4% 7/1/35 | 4,620,000 | 4,726,922 | |
4% 7/1/39 | 2,360,000 | 2,370,797 | |
4% 7/1/43 | 2,470,000 | 2,428,106 | |
Main Street Natural Gas, Inc. Bonds: | |||
Series 2019 B, 4%, tender 12/2/24 (b) | 5,705,000 | 5,742,513 | |
Series 2021 A, 4%, tender 9/1/27 (b) | 21,715,000 | 22,132,371 | |
Series 2021 C, 4%, tender 12/1/28 (b) | 20,380,000 | 20,419,937 | |
Private Colleges & Univs. Auth. Rev.: | |||
(The Savannah College of Art & Design Projs.) Series 2021: | |||
4% 4/1/38 | 500,000 | 505,667 | |
4% 4/1/40 | 1,320,000 | 1,325,718 | |
5% 4/1/36 | 1,060,000 | 1,175,311 | |
Series 2020 B: | |||
5% 9/1/31 | 1,060,000 | 1,263,189 | |
5% 9/1/33 | 2,360,000 | 2,790,096 | |
TOTAL GEORGIA | 111,105,270 | ||
Hawaii - 0.1% | |||
Hawaii Gen. Oblig. Series 2020 C: | |||
4% 7/1/37 | 1,040,000 | 1,079,917 | |
4% 7/1/38 | 1,180,000 | 1,218,326 | |
TOTAL HAWAII | 2,298,243 | ||
Idaho - 0.2% | |||
Idaho Health Facilities Auth. Rev. Series 2015 ID: | |||
5% 12/1/24 | 470,000 | 491,309 | |
5.5% 12/1/27 | 3,070,000 | 3,293,432 | |
Idaho Hsg. & Fin. Assoc. Single Family Mtg.: | |||
(Idaho St Garvee Proj.) Series 2017 A: | |||
5% 7/15/24 | 665,000 | 689,615 | |
5% 7/15/25 | 665,000 | 706,764 | |
5% 7/15/26 | 470,000 | 511,817 | |
Series 2019 A, 4% 1/1/50 | 375,000 | 380,319 | |
TOTAL IDAHO | 6,073,256 | ||
Illinois - 14.9% | |||
Chicago Board of Ed.: | |||
Series 2012 A, 5% 12/1/42 | 2,660,000 | 2,654,508 | |
Series 2015 C, 5.25% 12/1/39 | 755,000 | 758,600 | |
Series 2016 B, 6.5% 12/1/46 | 400,000 | 425,784 | |
Series 2017 A, 7% 12/1/46 (d) | 1,400,000 | 1,534,967 | |
Series 2017 C: | |||
5% 12/1/24 | 1,735,000 | 1,773,861 | |
5% 12/1/25 | 2,670,000 | 2,754,355 | |
5% 12/1/26 | 500,000 | 519,910 | |
Series 2017 D: | |||
5% 12/1/24 | 1,705,000 | 1,743,189 | |
5% 12/1/31 | 1,845,000 | 1,914,094 | |
Series 2017 H, 5% 12/1/36 | 440,000 | 448,786 | |
Series 2018 A: | |||
5% 12/1/24 | 1,590,000 | 1,625,613 | |
5% 12/1/29 | 4,195,000 | 4,392,220 | |
5% 12/1/31 | 850,000 | 888,865 | |
Series 2018 C, 5% 12/1/46 | 8,210,000 | 8,178,163 | |
Series 2019 A: | |||
5% 12/1/25 | 2,360,000 | 2,434,561 | |
5% 12/1/26 | 1,985,000 | 2,064,042 | |
5% 12/1/29 | 2,920,000 | 3,101,831 | |
5% 12/1/30 | 3,820,000 | 4,022,092 | |
5% 12/1/32 | 1,700,000 | 1,784,142 | |
Chicago Gen. Oblig.: | |||
Series 2020 A: | |||
5% 1/1/26 | 1,565,000 | 1,620,193 | |
5% 1/1/27 | 7,225,000 | 7,555,409 | |
5% 1/1/29 | 3,645,000 | 3,879,396 | |
5% 1/1/30 | 7,320,000 | 7,856,884 | |
Series 2021 A, 5% 1/1/32 | 4,405,000 | 4,741,931 | |
Chicago Midway Arpt. Rev. Series 2016 B: | |||
4% 1/1/35 | 770,000 | 779,098 | |
5% 1/1/36 | 4,250,000 | 4,427,501 | |
5% 1/1/37 | 5,005,000 | 5,200,456 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2016 B, 5% 1/1/34 | 2,675,000 | 2,843,949 | |
Series 2016 C: | |||
5% 1/1/32 | 4,485,000 | 4,780,687 | |
5% 1/1/33 | 1,230,000 | 1,309,714 | |
5% 1/1/34 | 1,425,000 | 1,515,001 | |
Series 2017 B: | |||
5% 1/1/34 | 1,430,000 | 1,549,715 | |
5% 1/1/35 | 2,400,000 | 2,588,977 | |
5% 1/1/36 | 1,560,000 | 1,669,647 | |
5% 1/1/37 | 6,045,000 | 6,436,251 | |
5% 1/1/38 | 2,125,000 | 2,252,846 | |
Series 2018 B: | |||
4% 1/1/44 | 2,510,000 | 2,488,753 | |
5% 1/1/48 | 1,055,000 | 1,112,997 | |
5% 1/1/53 | 1,060,000 | 1,113,628 | |
Series 2020 A, 4% 1/1/37 | 6,305,000 | 6,467,443 | |
Chicago Transit Auth. Series 2017, 5% 12/1/46 | 1,795,000 | 1,851,095 | |
Chicago Transit Auth. Cap. Grant Receipts Rev. Series 2017: | |||
5% 6/1/23 | 830,000 | 835,950 | |
5% 6/1/25 | 705,000 | 737,213 | |
5% 6/1/26 | 1,505,000 | 1,606,255 | |
Chicago Wtr. Rev. Series 2017, 5.25% 11/1/33 (Assured Guaranty Muni. Corp. Insured) | 420,000 | 424,332 | |
Cook County Ccsd 034 Glenview Series 2021 A, 2% 12/1/37 | 2,010,000 | 1,544,215 | |
Cook County Gen. Oblig. Series 2016 A, 5% 11/15/29 | 5,770,000 | 6,251,244 | |
Grundy & Will Counties Cmnty. School Gen. Oblig. Series 2018, 5% 2/1/29 | 635,000 | 700,385 | |
Illinois Fin. Auth.: | |||
Series 2020 A: | |||
3% 5/15/50 | 7,190,000 | 5,229,401 | |
3% 5/15/50 (Build America Mutual Assurance Insured) | 3,390,000 | 2,567,943 | |
3.25% 8/15/49 | 1,340,000 | 1,085,222 | |
Series 2020, 5% 7/1/36 | 4,150,000 | 4,777,789 | |
Illinois Fin. Auth. Academic Facilities (Provident Group UIUC Properties LLC Univ. of Illinois at Urbana-Champaign Proj.) Series 2019 A: | |||
5% 10/1/31 | 190,000 | 214,278 | |
5% 10/1/32 | 275,000 | 307,942 | |
5% 10/1/33 | 470,000 | 521,434 | |
5% 10/1/35 | 285,000 | 310,452 | |
5% 10/1/36 | 285,000 | 307,506 | |
5% 10/1/37 | 330,000 | 354,200 | |
5% 10/1/38 | 355,000 | 379,716 | |
5% 10/1/39 | 610,000 | 649,817 | |
Illinois Fin. Auth. Rev.: | |||
(Bradley Univ. Proj.) Series 2017 C, 5% 8/1/31 | 2,230,000 | 2,352,426 | |
(Depaul Univ. Proj.) Series 2016 A: | |||
4% 10/1/31 | 1,395,000 | 1,431,866 | |
5% 10/1/33 | 1,415,000 | 1,511,181 | |
(Northwestern Memorial Hosp.,IL. Proj.) Series 2017 A: | |||
5% 7/15/25 | 750,000 | 794,707 | |
5% 7/15/27 | 1,225,000 | 1,356,603 | |
5% 7/15/30 | 1,405,000 | 1,573,815 | |
(OSF Healthcare Sys.) Series 2018 A: | |||
4.125% 5/15/47 | 10,465,000 | 10,058,897 | |
5% 5/15/43 | 9,440,000 | 9,733,975 | |
(Presence Health Proj.) Series 2016 C: | |||
5% 2/15/29 | 3,260,000 | 3,570,951 | |
5% 2/15/36 | 2,255,000 | 2,380,616 | |
(Rosalind Franklin Univ. Research Bldg. Proj.) Series 2017 C, 5% 8/1/49 | 465,000 | 468,287 | |
(Rush Univ. Med. Ctr. Proj.) Series 2015 A, 5% 11/15/34 | 1,135,000 | 1,173,508 | |
Series 2015 A, 5% 11/15/31 | 3,305,000 | 3,465,714 | |
Series 2015 C: | |||
5% 8/15/35 | 3,155,000 | 3,248,451 | |
5% 8/15/44 | 15,205,000 | 15,269,215 | |
Series 2016 A: | |||
5% 7/1/33 (Pre-Refunded to 7/1/26 @ 100) | 1,745,000 | 1,902,120 | |
5% 7/1/34 (Pre-Refunded to 7/1/26 @ 100) | 945,000 | 1,030,088 | |
5% 7/1/36 (Pre-Refunded to 7/1/26 @ 100) | 1,445,000 | 1,575,108 | |
5.25% 8/15/29 (Pre-Refunded to 8/15/26 @ 100) | 960,000 | 1,055,871 | |
Series 2016 B: | |||
5% 8/15/30 | 2,830,000 | 3,071,449 | |
5% 8/15/33 | 4,330,000 | 4,647,037 | |
5% 8/15/34 | 2,280,000 | 2,439,768 | |
Series 2016 C: | |||
3.75% 2/15/34 | 685,000 | 700,178 | |
4% 2/15/36 | 2,915,000 | 2,975,180 | |
4% 2/15/41 | 8,645,000 | 8,655,271 | |
4% 2/15/41 (Pre-Refunded to 2/15/27 @ 100) | 395,000 | 419,413 | |
5% 2/15/31 | 1,965,000 | 2,145,768 | |
Series 2016: | |||
4% 2/15/41 (Pre-Refunded to 2/15/27 @ 100) | 20,000 | 21,236 | |
5% 12/1/29 | 970,000 | 1,027,658 | |
5% 12/1/46 | 2,510,000 | 2,539,874 | |
Series 2017 A, 5% 8/1/47 | 405,000 | 408,307 | |
Series 2017: | |||
5% 7/1/33 | 3,175,000 | 3,469,098 | |
5% 7/1/34 | 2,610,000 | 2,837,463 | |
5% 7/1/35 | 530,000 | 575,544 | |
Series 2019: | |||
4% 9/1/37 | 380,000 | 332,713 | |
4% 9/1/39 | 945,000 | 813,537 | |
5% 9/1/30 | 180,000 | 185,671 | |
5% 9/1/38 | 850,000 | 835,848 | |
Illinois Gen. Oblig.: | |||
Series 2006, 5.5% 1/1/31 | 1,835,000 | 2,082,394 | |
Series 2013 A, 5% 4/1/35 | 850,000 | 851,482 | |
Series 2013, 5.5% 7/1/38 | 1,890,000 | 1,901,737 | |
Series 2014: | |||
5% 2/1/25 | 2,120,000 | 2,164,271 | |
5% 2/1/27 | 1,155,000 | 1,175,973 | |
5% 4/1/28 | 550,000 | 560,766 | |
5% 5/1/28 | 3,140,000 | 3,205,409 | |
5% 5/1/32 | 1,320,000 | 1,341,940 | |
5% 5/1/33 | 1,510,000 | 1,533,872 | |
5.25% 2/1/29 | 2,830,000 | 2,882,003 | |
5.25% 2/1/30 | 2,550,000 | 2,594,393 | |
5.25% 2/1/31 | 1,230,000 | 1,250,449 | |
Series 2016: | |||
5% 2/1/26 | 945,000 | 998,049 | |
5% 6/1/26 | 575,000 | 609,985 | |
5% 2/1/27 | 3,535,000 | 3,780,719 | |
5% 2/1/28 | 3,300,000 | 3,514,853 | |
5% 2/1/29 | 3,100,000 | 3,288,598 | |
Series 2017 A, 5% 12/1/26 | 3,165,000 | 3,378,382 | |
Series 2018 A: | |||
5% 10/1/26 | 1,415,000 | 1,507,399 | |
5% 10/1/28 | 3,305,000 | 3,588,718 | |
Series 2020 B, 4% 10/1/32 | 5,055,000 | 5,173,234 | |
Series 2021 A: | |||
5% 3/1/32 | 100,000 | 109,666 | |
5% 3/1/35 | 710,000 | 765,973 | |
5% 3/1/36 | 565,000 | 604,869 | |
5% 3/1/37 | 710,000 | 754,137 | |
5% 3/1/46 | 2,830,000 | 2,909,418 | |
Series 2021 B, 4% 12/1/34 | 3,355,000 | 3,382,723 | |
Series 2022 A: | |||
5% 3/1/32 | 1,755,000 | 1,942,421 | |
5% 3/1/36 | 7,365,000 | 7,938,310 | |
5.25% 3/1/37 | 1,605,000 | 1,748,466 | |
Series 2022 B: | |||
5% 3/1/29 | 3,495,000 | 3,805,363 | |
5% 3/1/32 | 1,550,000 | 1,715,503 | |
Illinois Hsg. Dev. Auth. Series 2021, 3% 4/1/51 | 6,620,000 | 6,516,713 | |
Illinois Hsg. Dev. Auth. Multi-family Hsg. Rev. Series 2019, 2.9% 7/1/35 | 4,527,862 | 4,203,383 | |
Illinois Muni. Elec. Agcy. Pwr. Supply Series 2015 A, 5% 2/1/31 | 1,785,000 | 1,878,898 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev.: | |||
Series 2016 A, 5% 12/1/31 | 890,000 | 951,824 | |
Series 2019 A, 5% 1/1/44 | 1,060,000 | 1,145,532 | |
Kane, McHenry, Cook & DeKalb Counties Unit School District #300: | |||
Series 2015 5% 1/1/28 | 2,625,000 | 2,707,856 | |
Series 2017, 5% 1/1/29 | 970,000 | 1,067,786 | |
Kendall, Kane & Will Counties Cmnty. Unit School District #308 Series 2016, 5% 2/1/33 | 10,270,000 | 10,966,431 | |
Lake County Cmnty. Consolidated School District #73 Gen. Oblig. Series 2021, 2.25% 1/1/40 | 1,245,000 | 958,917 | |
McHenry County Cmnty. School District #200 Series 2006 B: | |||
0% 1/15/24 | 2,165,000 | 2,101,653 | |
0% 1/15/25 | 4,190,000 | 3,942,679 | |
0% 1/15/26 | 3,150,000 | 2,883,402 | |
Metropolitan Pier & Exposition: | |||
(McCormick Place Expansion Proj.): | |||
Series 2010 B1: | |||
0% 6/15/43 (Assured Guaranty Muni. Corp. Insured) | 30,875,000 | 12,315,195 | |
0% 6/15/45 (Assured Guaranty Muni. Corp. Insured) | 11,465,000 | 4,110,250 | |
0% 6/15/47 (Assured Guaranty Muni. Corp. Insured) | 10,015,000 | 3,231,473 | |
Series 2012 B, 0% 12/15/51 | 5,570,000 | 1,246,535 | |
Series 2002 A, 0% 6/15/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,310,000 | 782,918 | |
Series 2002, 0% 12/15/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 12,285,000 | 6,725,114 | |
Series 2017 B: | |||
5% 12/15/28 | 1,890,000 | 1,985,426 | |
5% 12/15/32 | 850,000 | 890,173 | |
Series 2020 A, 5% 6/15/50 | 21,945,000 | 22,274,129 | |
Series 2022 A, 4% 12/15/42 | 5,405,000 | 5,055,506 | |
Univ. of Illinois Rev.: | |||
Series 2013: | |||
6% 10/1/42 | 1,825,000 | 1,861,191 | |
6.25% 10/1/38 | 1,795,000 | 1,834,812 | |
Series 2018 A, 5% 4/1/29 | 3,720,000 | 4,150,043 | |
Will County Cmnty. Unit School District #365-U Series 2007 B, 0% 11/1/26 (Assured Guaranty Muni. Corp. Insured) | 3,000,000 | 2,686,337 | |
TOTAL ILLINOIS | 429,456,511 | ||
Indiana - 1.4% | |||
Beech Grove School Bldg. Corp. Series 1996, 5.625% 7/5/24 (Escrowed to Maturity) | 475,000 | 486,427 | |
Indiana Fin. Auth. Hosp. Rev. (Parkview Health Sys. Proj.) Series 2017 A: | |||
5% 11/1/28 | 425,000 | 482,808 | |
5% 11/1/29 | 1,320,000 | 1,526,823 | |
5% 11/1/30 | 295,000 | 347,260 | |
Indiana Fin. Auth. Rev.: | |||
(Butler Univ. Proj.) Series 2019, 4% 2/1/44 | 2,450,000 | 2,405,484 | |
Series 2015 A, 5.25% 2/1/32 | 2,775,000 | 2,933,467 | |
Series 2015, 5% 3/1/36 | 4,250,000 | 4,392,194 | |
Series 2016: | |||
5% 9/1/27 | 1,745,000 | 1,892,405 | |
5% 9/1/31 | 1,735,000 | 1,860,681 | |
Indiana Hsg. & Cmnty. Dev. Auth.: | |||
(Glasswater Creek of Whitestown Proj.) Series 2020, 5.375% 10/1/40 (d) | 1,660,000 | 1,385,828 | |
Series 2021 B, 3% 7/1/50 | 1,085,000 | 1,068,885 | |
Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Series 2017 A: | |||
5% 1/1/32 | 3,775,000 | 4,239,635 | |
5% 1/1/34 | 1,890,000 | 2,113,708 | |
Indianapolis Local Pub. Impt. (Courthouse and Jail Proj.) Series 2019 A, 5% 2/1/49 | 3,090,000 | 3,303,730 | |
Indianapolis Wtr. Sys. Rev. Series 2018 A, 5% 10/1/32 | 2,830,000 | 3,188,251 | |
Saint Joseph County Econ. Dev. Auth. Rev. (St. Mary's College Proj.): | |||
Series 2019: | |||
4% 4/1/39 | 945,000 | 940,709 | |
4% 4/1/46 | 2,115,000 | 2,047,055 | |
5% 4/1/40 | 2,115,000 | 2,251,945 | |
Series 2020: | |||
4% 4/1/37 | 1,565,000 | 1,571,880 | |
5% 4/1/29 | 970,000 | 1,084,595 | |
TOTAL INDIANA | 39,523,770 | ||
Iowa - 0.3% | |||
Iowa Fin. Auth. Rev.: | |||
Series 2018 B, 5% 2/15/48 | 2,360,000 | 2,463,805 | |
Series A: | |||
5% 5/15/43 | 775,000 | 684,696 | |
5% 5/15/48 | 1,355,000 | 1,157,814 | |
Tobacco Settlement Auth. Tobacco Settlement Rev.: | |||
Series 2021 A2, 4% 6/1/49 | 2,645,000 | 2,411,572 | |
Series 2021 B1, 4% 6/1/49 | 3,215,000 | 3,214,858 | |
TOTAL IOWA | 9,932,745 | ||
Kentucky - 3.3% | |||
Ashland Med. Ctr. Rev.: | |||
(Ashland Hosp. Corp. d/b/a King's Daughters Med. Ctr. Proj.) Series 2016 A, 5% 2/1/40 | 1,135,000 | 1,157,860 | |
Series 2019: | |||
3% 2/1/40 (Assured Guaranty Muni. Corp. Insured) | 1,665,000 | 1,396,774 | |
5% 2/1/28 | 45,000 | 48,795 | |
5% 2/1/32 | 60,000 | 65,365 | |
Boyle County Edl. Facilities Rev. Series 2017, 5% 6/1/37 | 1,585,000 | 1,671,591 | |
Kenton County Arpt. Board Arpt. Rev.: | |||
Series 2016: | |||
5% 1/1/24 | 755,000 | 772,189 | |
5% 1/1/27 | 1,415,000 | 1,523,881 | |
5% 1/1/33 | 1,225,000 | 1,309,721 | |
Series 2019, 5% 1/1/44 | 2,120,000 | 2,279,077 | |
Kentucky Econ. Dev. Fin. Auth.: | |||
Series 2019 A1: | |||
5% 8/1/33 | 945,000 | 1,037,959 | |
5% 8/1/44 | 945,000 | 983,768 | |
Series 2019 A2, 5% 8/1/49 | 2,360,000 | 2,430,765 | |
Kentucky Econ. Dev. Fin. Auth. Hosp. Rev.: | |||
Series 2015 A: | |||
5% 6/1/25 | 45,000 | 47,025 | |
5% 6/1/26 | 50,000 | 52,237 | |
5% 6/1/27 | 50,000 | 52,140 | |
5% 6/1/28 | 55,000 | 57,236 | |
5% 6/1/29 | 60,000 | 62,355 | |
5% 6/1/30 | 60,000 | 62,335 | |
Series 2017 B: | |||
5% 8/15/32 | 2,530,000 | 2,725,553 | |
5% 8/15/33 | 1,250,000 | 1,343,874 | |
5% 8/15/35 | 1,415,000 | 1,505,502 | |
Kentucky State Property & Buildings Commission Rev.: | |||
(Proj. No. 119) Series 2018: | |||
5% 5/1/29 | 1,760,000 | 1,970,954 | |
5% 5/1/30 | 1,180,000 | 1,320,452 | |
5% 5/1/31 | 505,000 | 567,782 | |
5% 5/1/32 | 265,000 | 296,194 | |
5% 5/1/33 | 595,000 | 664,582 | |
5% 5/1/34 | 680,000 | 754,663 | |
5% 5/1/35 | 400,000 | 438,894 | |
5% 5/1/36 | 340,000 | 369,571 | |
Series A: | |||
4% 11/1/38 | 600,000 | 608,427 | |
5% 11/1/29 | 3,625,000 | 4,095,920 | |
5% 11/1/30 | 2,030,000 | 2,292,767 | |
Kentucky, Inc. Pub. Energy Bonds Series A, 4%, tender 6/1/26 (b) | 29,720,000 | 29,775,559 | |
Louisville & Jefferson County: | |||
Bonds: | |||
Series 2020 C, 5%, tender 10/1/26 (b) | 1,360,000 | 1,448,286 | |
Series 2020 D, 5%, tender 10/1/29 (b) | 1,635,000 | 1,820,372 | |
Series 2013 A, 5.5% 10/1/33 | 1,205,000 | 1,225,629 | |
Series 2016 A: | |||
5% 10/1/31 | 6,045,000 | 6,446,490 | |
5% 10/1/32 | 7,310,000 | 7,778,776 | |
5% 10/1/33 | 4,155,000 | 4,409,253 | |
Series 2020 A: | |||
3% 10/1/43 | 5,505,000 | 4,531,526 | |
4% 10/1/40 | 1,090,000 | 1,059,398 | |
5% 10/1/37 | 2,715,000 | 2,876,311 | |
TOTAL KENTUCKY | 95,337,808 | ||
Louisiana - 0.2% | |||
Louisiana Pub. Facilities Auth. Hosp. Rev. (Franciscan Missionaries of Our Lady Health Sys. Proj.) Series 2017 A, 5% 7/1/47 | 1,605,000 | 1,642,807 | |
Louisiana Pub. Facilities Auth. Rev. (Tulane Univ. of Louisiana Proj.) Series 2016 A: | |||
5% 12/15/25 | 420,000 | 451,454 | |
5% 12/15/27 | 1,890,000 | 2,071,674 | |
5% 12/15/29 | 1,135,000 | 1,234,321 | |
TOTAL LOUISIANA | 5,400,256 | ||
Maine - 1.0% | |||
Maine Health & Higher Edl. Facilities Auth. Rev.: | |||
Series 2016 A: | |||
4% 7/1/41 | 1,120,000 | 1,055,598 | |
4% 7/1/46 | 1,665,000 | 1,516,364 | |
5% 7/1/41 | 455,000 | 456,430 | |
5% 7/1/46 | 310,000 | 293,683 | |
Series 2018 A: | |||
5% 7/1/30 | 1,120,000 | 1,227,547 | |
5% 7/1/31 | 1,040,000 | 1,136,518 | |
5% 7/1/34 | 1,890,000 | 2,035,331 | |
5% 7/1/35 | 2,590,000 | 2,769,163 | |
5% 7/1/36 | 3,070,000 | 3,260,855 | |
5% 7/1/37 | 2,830,000 | 2,994,744 | |
5% 7/1/38 | 2,150,000 | 2,271,189 | |
5% 7/1/43 | 4,250,000 | 4,426,859 | |
Maine Tpk. Auth. Tpk. Rev. Series 2018: | |||
5% 7/1/33 | 660,000 | 744,822 | |
5% 7/1/34 | 945,000 | 1,061,826 | |
5% 7/1/35 | 1,040,000 | 1,160,131 | |
5% 7/1/36 | 1,890,000 | 2,089,399 | |
TOTAL MAINE | 28,500,459 | ||
Maryland - 1.0% | |||
Baltimore Gen. Oblig. Series 2022 A, 5% 10/15/37 | 735,000 | 865,513 | |
City of Westminster Series 2016, 5% 11/1/31 | 1,865,000 | 1,984,591 | |
Maryland Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev.: | |||
Series 2019 B, 4% 9/1/49 | 1,590,000 | 1,608,103 | |
Series 2019 C, 3.5% 3/1/50 | 1,755,000 | 1,754,778 | |
Maryland Dept. of Trans. Series 2022 B, 5% 12/1/23 | 995,000 | 1,016,732 | |
Maryland Health & Higher Edl. Series 2021 A, 3% 7/1/51 | 4,320,000 | 3,251,369 | |
Maryland Health & Higher Edl. Facilities Auth. Rev.: | |||
Series 2015, 5% 7/1/40 | 1,890,000 | 1,921,830 | |
Series 2016 A: | |||
4% 7/1/42 | 735,000 | 682,214 | |
5% 7/1/35 | 1,940,000 | 2,018,714 | |
5% 7/1/38 | 1,060,000 | 1,088,491 | |
Maryland Stadium Auth. Built to Learn Rev.: | |||
Series 2021, 4% 6/1/46 | 850,000 | 842,528 | |
Series 2022 A: | |||
4% 6/1/37 | 2,240,000 | 2,327,648 | |
4% 6/1/38 | 2,455,000 | 2,542,717 | |
Washington Metropolitan Area Transit Auth. Series 2020 A, 5% 7/15/38 | 7,100,000 | 7,973,181 | |
TOTAL MARYLAND | 29,878,409 | ||
Massachusetts - 2.1% | |||
Massachusetts Dev. Fin. Agcy. Rev.: | |||
(Lesley Univ. Proj.) Series 2016, 5% 7/1/39 | 960,000 | 974,142 | |
(Univ. of Massachusetts Health Cr., Inc. Proj.) Series 2017 L, 4% 7/1/44 | 9,440,000 | 8,969,458 | |
(Wentworth Institute of Technology Proj.) Series 2017: | |||
5% 10/1/30 | 1,100,000 | 1,166,239 | |
5% 10/1/33 | 1,280,000 | 1,346,105 | |
Series 2015 D, 5% 7/1/44 | 2,430,000 | 2,467,946 | |
Series 2016 A, 5% 1/1/47 | 6,610,000 | 6,713,878 | |
Series 2019, 5% 9/1/59 | 11,260,000 | 11,786,483 | |
Series 2020 A, 4% 7/1/45 | 9,790,000 | 9,026,636 | |
Series J2, 5% 7/1/53 | 2,360,000 | 2,402,506 | |
Series M: | |||
4% 10/1/50 | 9,975,000 | 8,888,246 | |
5% 10/1/45 | 7,515,000 | 7,805,815 | |
TOTAL MASSACHUSETTS | 61,547,454 | ||
Michigan - 2.0% | |||
Detroit Downtown Dev. Auth. Tax Series A, 5% 7/1/37 (Assured Guaranty Muni. Corp. Insured) | 975,000 | 993,152 | |
Detroit Gen. Oblig. Series 2021 A, 5% 4/1/46 | 1,840,000 | 1,822,844 | |
Grand Traverse County Hosp. Fin. Auth. Series 2021, 3% 7/1/51 | 1,860,000 | 1,407,985 | |
Great Lakes Wtr. Auth. Sew Disp. Sys. Series 2018 A: | |||
5% 7/1/43 | 1,415,000 | 1,512,081 | |
5% 7/1/48 | 6,135,000 | 6,449,703 | |
Jackson County Series 2019: | |||
4% 5/1/32 (Build America Mutual Assurance Insured) | 2,050,000 | 2,224,848 | |
4% 5/1/33 (Build America Mutual Assurance Insured) | 2,110,000 | 2,276,353 | |
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016: | |||
5% 5/15/28 | 1,365,000 | 1,453,531 | |
5% 5/15/28 (Pre-Refunded to 5/15/26 @ 100) | 10,000 | 10,834 | |
Michigan Fin. Auth. Rev.: | |||
(Charter County of Wayne Criminal Justice Ctr. Proj.) Series 2018, 5% 11/1/43 | 1,740,000 | 1,859,440 | |
Series 2016, 5% 11/15/32 | 4,545,000 | 4,871,634 | |
Series 2019 A: | |||
3% 12/1/49 | 2,645,000 | 2,057,521 | |
5% 11/15/48 | 1,555,000 | 1,610,900 | |
Series 2020 A, 4% 6/1/49 | 2,070,000 | 1,869,706 | |
Michigan Hosp. Fin. Auth. Rev. Series 2008 C: | |||
5% 12/1/32 | 290,000 | 322,101 | |
5% 12/1/32 (Pre-Refunded to 12/1/27 @ 100) | 40,000 | 45,057 | |
Portage Pub. Schools Series 2016: | |||
5% 11/1/33 | 945,000 | 1,011,864 | |
5% 11/1/36 | 1,180,000 | 1,256,676 | |
5% 11/1/37 | 945,000 | 1,005,802 | |
Warren Consolidated School District Series 2016: | |||
5% 5/1/28 | 3,870,000 | 4,182,666 | |
5% 5/1/29 | 3,995,000 | 4,311,267 | |
Wayne County Arpt. Auth. Rev.: | |||
Series 2015 D: | |||
5% 12/1/30 | 1,225,000 | 1,309,427 | |
5% 12/1/31 | 2,170,000 | 2,318,392 | |
Series 2015 G: | |||
5% 12/1/31 | 1,415,000 | 1,511,763 | |
5% 12/1/32 | 1,415,000 | 1,510,276 | |
5% 12/1/33 | 1,890,000 | 2,014,296 | |
Series 2015, 5% 12/1/29 | 1,510,000 | 1,614,364 | |
Series 2017 A: | |||
5% 12/1/28 | 565,000 | 630,558 | |
5% 12/1/29 | 520,000 | 577,635 | |
5% 12/1/30 | 660,000 | 732,617 | |
5% 12/1/33 | 330,000 | 366,124 | |
5% 12/1/37 | 470,000 | 510,065 | |
5% 12/1/37 | 255,000 | 272,484 | |
Series 2017 C, 5% 12/1/28 | 1,040,000 | 1,163,189 | |
TOTAL MICHIGAN | 57,087,155 | ||
Minnesota - 1.6% | |||
Duluth Econ. Dev. Auth. Health Care Facilities Rev. Series 2018 A: | |||
5% 2/15/48 | 6,685,000 | 6,901,502 | |
5% 2/15/58 | 11,185,000 | 11,480,265 | |
Maple Grove Health Care Sys. Rev.: | |||
Series 2015, 5% 9/1/27 | 1,215,000 | 1,271,261 | |
Series 2017: | |||
5% 5/1/23 | 470,000 | 472,508 | |
5% 5/1/24 | 1,135,000 | 1,164,803 | |
Minneapolis & Saint Paul Hsg. & Redev. Auth. Health Care Sys. Rev. (Allina Health Sys. Proj.) Series 2017 A, 5% 11/15/25 | 1,290,000 | 1,377,382 | |
Minnesota Higher Ed. Facilities Auth. Rev. Series 2018 A: | |||
5% 10/1/29 | 945,000 | 1,036,397 | |
5% 10/1/32 | 675,000 | 734,812 | |
5% 10/1/33 | 825,000 | 894,443 | |
5% 10/1/45 | 975,000 | 1,011,970 | |
Minnesota Hsg. Fin. Agcy.: | |||
Series B, 4% 8/1/41 | 1,270,000 | 1,287,471 | |
Series D: | |||
4% 8/1/38 | 2,265,000 | 2,329,114 | |
4% 8/1/40 | 2,455,000 | 2,500,124 | |
4% 8/1/41 | 1,610,000 | 1,632,148 | |
4% 8/1/43 | 1,820,000 | 1,828,966 | |
Saint Cloud Health Care Rev. Series 2019: | |||
4% 5/1/49 | 3,265,000 | 3,165,002 | |
5% 5/1/48 | 4,085,000 | 4,254,033 | |
Shakopee Sr. Hsg. Rev. Bonds Series 2018, 5.85%, tender 11/1/25 (b)(d) | 3,150,000 | 3,123,750 | |
TOTAL MINNESOTA | 46,465,951 | ||
Mississippi - 0.1% | |||
Mississippi Home Corp. Series 2021 B: | |||
3% 6/1/51 | 2,890,000 | 2,846,210 | |
5% 6/1/28 | 705,000 | 789,256 | |
TOTAL MISSISSIPPI | 3,635,466 | ||
Missouri - 1.0% | |||
Cape Girardeau County Indl. Dev. Auth. Series 2017 A: | |||
5% 3/1/27 | 30,000 | 31,880 | |
5% 3/1/29 | 1,390,000 | 1,469,620 | |
Kansas City San. Swr. Sys. Rev. Series 2018 B: | |||
5% 1/1/26 | 225,000 | 242,999 | |
5% 1/1/28 | 470,000 | 532,997 | |
5% 1/1/33 | 450,000 | 506,753 | |
Kansas City Wtr. Rev. Series 2020 A, 4% 12/1/39 | 1,190,000 | 1,227,257 | |
Missouri Health & Edl. Facilities Rev.: | |||
Series 2015 B: | |||
3.125% 2/1/27 | 380,000 | 384,042 | |
3.25% 2/1/28 | 380,000 | 384,799 | |
5% 2/1/34 | 2,940,000 | 3,057,100 | |
5% 2/1/36 | 1,135,000 | 1,173,077 | |
Series 2019 A: | |||
4% 10/1/48 | 2,030,000 | 2,011,324 | |
5% 10/1/46 | 3,990,000 | 4,335,581 | |
Missouri Hsg. Dev. Commission Single Family Mtg. Rev. Series 2019, 4% 5/1/50 | 480,000 | 486,507 | |
Saint Louis Arpt. Rev.: | |||
Series 2019 A: | |||
5% 7/1/44 | 1,320,000 | 1,414,785 | |
5% 7/1/49 | 1,085,000 | 1,152,543 | |
Series A, 5.25% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 2,830,000 | 3,100,120 | |
Saint Louis County Indl. Dev. Auth. Sr. Living Facilities Rev. Series 2018 A, 5.125% 9/1/48 | 2,510,000 | 2,313,639 | |
The Indl. Dev. Auth. of Hannibal (Hannibal Reg'l. Healthcare Sys. Proj.) Series 2017: | |||
5% 10/1/42 | 3,235,000 | 3,338,676 | |
5% 10/1/47 | 2,005,000 | 2,058,856 | |
TOTAL MISSOURI | 29,222,555 | ||
Montana - 0.1% | |||
Montana Board Hsg. Single Family Series 2019 B, 4% 6/1/50 | 265,000 | 269,802 | |
Montana Facility Fin. Auth. Series 2021 A, 3% 6/1/50 | 2,665,000 | 1,972,664 | |
TOTAL MONTANA | 2,242,466 | ||
Nebraska - 1.1% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 13,495,000 | 13,666,859 | |
Douglas County Neb Edl. Facilities Rev. (Creighton Univ. Projs.): | |||
Series 2017, 4% 7/1/33 | 730,000 | 756,884 | |
Series 2021 A, 3% 7/1/51 | 1,190,000 | 873,729 | |
Lincoln Elec. Sys. Rev. Series 2018: | |||
5% 9/1/31 | 1,890,000 | 2,091,015 | |
5% 9/1/32 | 3,525,000 | 3,895,189 | |
5% 9/1/33 | 2,115,000 | 2,331,825 | |
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev. Series 2020 A, 3.5% 9/1/50 | 1,190,000 | 1,191,356 | |
Nebraska Pub. Pwr. District Rev.: | |||
Series 2016 A: | |||
5% 1/1/32 | 1,575,000 | 1,674,806 | |
5% 1/1/34 | 945,000 | 1,001,341 | |
Series 2016 B, 5% 1/1/32 | 4,720,000 | 5,019,100 | |
TOTAL NEBRASKA | 32,502,104 | ||
Nevada - 0.6% | |||
Carson City Hosp. Rev. (Carson Tahoe Hosp. Proj.) Series 2017: | |||
5% 9/1/37 | 2,555,000 | 2,645,731 | |
5% 9/1/42 | 6,295,000 | 6,490,964 | |
Clark County School District Series 2020 B, 3% 6/15/39 | 2,630,000 | 2,270,140 | |
Las Vegas Valley Wtr. District Wtr. Impt. Gen. Oblig. Series 2016 B, 5% 6/1/36 | 2,550,000 | 2,728,267 | |
Nevada Hsg. Division Single Family Mtg. Rev. Series 2019 B, 4% 10/1/49 | 775,000 | 784,444 | |
Tahoe-Douglas Visitors Auth. Series 2020, 5% 7/1/51 | 2,830,000 | 2,853,717 | |
TOTAL NEVADA | 17,773,263 | ||
New Hampshire - 1.3% | |||
Nat'l. Fin. Auth. Hosp. Rev. (St. Luke's Univ. Health Network Proj.) Series 2021 B, 3% 8/15/51 (Assured Guaranty Muni. Corp. Insured) | 2,300,000 | 1,748,627 | |
Nat'l. Finnance Auth. Series 2020 1, 4.125% 1/20/34 | 4,700,434 | 4,748,745 | |
New Hampshire Health & Ed. Facilities Auth.: | |||
(Dartmouth-Hitchcock Oblgtd Grp Proj.): | |||
Series 2018 A: | |||
5% 8/1/31 | 1,225,000 | 1,348,379 | |
5% 8/1/32 | 235,000 | 258,312 | |
5% 8/1/34 | 2,830,000 | 3,086,430 | |
5% 8/1/36 | 1,890,000 | 2,019,984 | |
5% 8/1/37 | 2,265,000 | 2,401,952 | |
Series 2018, 5% 8/1/35 | 2,595,000 | 2,802,063 | |
(Partners Healthcare Sys., Inc. Proj.) Series 2017, 5% 7/1/41 | 1,985,000 | 2,080,136 | |
Series 2017: | |||
5% 7/1/36 | 1,135,000 | 1,169,772 | |
5% 7/1/44 | 1,790,000 | 1,771,303 | |
New Hampshire Health & Ed. Facilities Auth. Rev.: | |||
Series 2012: | |||
4% 7/1/23 | 945,000 | 945,700 | |
4% 7/1/32 | 850,000 | 850,284 | |
Series 2016: | |||
4% 10/1/38 | 1,100,000 | 1,084,031 | |
5% 10/1/28 | 2,830,000 | 3,018,080 | |
5% 10/1/32 | 4,870,000 | 5,156,325 | |
5% 10/1/38 | 3,555,000 | 3,646,034 | |
TOTAL NEW HAMPSHIRE | 38,136,157 | ||
New Jersey - 5.6% | |||
New Jersey Econ. Dev. Auth.: | |||
(White Horse HMT Urban Renewal LLC Proj.) Series 2020, 5% 1/1/40 (d) | 855,000 | 654,688 | |
Series A, 5% 11/1/36 | 4,895,000 | 5,307,888 | |
Series QQQ: | |||
4% 6/15/34 | 755,000 | 789,459 | |
4% 6/15/36 | 1,040,000 | 1,060,588 | |
4% 6/15/39 | 945,000 | 946,982 | |
4% 6/15/41 | 945,000 | 934,354 | |
4% 6/15/46 | 1,415,000 | 1,359,138 | |
4% 6/15/50 | 1,890,000 | 1,796,837 | |
5% 6/15/31 | 1,040,000 | 1,199,605 | |
5% 6/15/33 | 190,000 | 216,056 | |
New Jersey Econ. Dev. Auth. Rev.: | |||
(Black Horse EHT Urban Renewal LLC Proj.) Series 2019 A, 5% 10/1/39 (d) | 750,000 | 576,771 | |
(Provident Montclair Proj.) Series 2017: | |||
5% 6/1/27 (Assured Guaranty Muni. Corp. Insured) | 40,000 | 43,666 | |
5% 6/1/28 (Assured Guaranty Muni. Corp. Insured) | 55,000 | 59,819 | |
5% 6/1/29 (Assured Guaranty Muni. Corp. Insured) | 40,000 | 43,400 | |
Series 2014 PP, 5% 6/15/26 | 5,665,000 | 5,840,731 | |
Series 2016 AAA, 5% 6/15/41 | 2,370,000 | 2,449,135 | |
Series LLL, 4% 6/15/49 | 2,655,000 | 2,528,685 | |
Series MMM, 4% 6/15/36 | 755,000 | 768,275 | |
New Jersey Edl. Facility Series 2016 A, 5% 7/1/29 | 2,480,000 | 2,625,037 | |
New Jersey Gen. Oblig. Series 2020 A, 5% 6/1/29 | 3,000,000 | 3,482,961 | |
New Jersey Health Care Facilities Fing. Auth. Rev.: | |||
Series 2016 A: | |||
5% 7/1/25 (Escrowed to Maturity) | 995,000 | 1,055,915 | |
5% 7/1/25 (Escrowed to Maturity) | 465,000 | 492,905 | |
5% 7/1/26 (Escrowed to Maturity) | 145,000 | 157,558 | |
5% 7/1/27 (Pre-Refunded to 7/1/26 @ 100) | 220,000 | 239,053 | |
5% 7/1/28 (Pre-Refunded to 7/1/26 @ 100) | 35,000 | 38,091 | |
5% 7/1/28 (Pre-Refunded to 7/1/26 @ 100) | 645,000 | 700,860 | |
5% 7/1/30 | 945,000 | 1,024,691 | |
Series 2016: | |||
4% 7/1/48 | 1,700,000 | 1,423,573 | |
5% 7/1/41 | 2,070,000 | 2,060,665 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev. Series 2019 A: | |||
5% 12/1/24 | 550,000 | 572,924 | |
5% 12/1/25 | 1,005,000 | 1,072,287 | |
New Jersey Tpk. Auth. Tpk. Rev. Series 2022 B: | |||
4.25% 1/1/43 | 6,000,000 | 6,172,020 | |
5% 1/1/46 | 8,000,000 | 8,808,590 | |
New Jersey Trans. Trust Fund Auth.: | |||
(Trans. Prog.) Series 2019 AA, 5.25% 6/15/43 | 15,160,000 | 16,065,816 | |
Series 2006 C: | |||
0% 12/15/31 (FGIC Insured) | 5,300,000 | 3,918,904 | |
0% 12/15/36 (AMBAC Insured) | 10,000,000 | 5,663,285 | |
Series 2010 A, 0% 12/15/27 | 6,980,000 | 6,004,960 | |
Series 2014 BB2, 5% 6/15/34 | 5,370,000 | 6,085,009 | |
Series 2016 A: | |||
5% 6/15/27 | 890,000 | 959,652 | |
5% 6/15/29 | 3,350,000 | 3,603,514 | |
Series 2018 A: | |||
5% 12/15/32 | 3,025,000 | 3,361,901 | |
5% 12/15/34 | 945,000 | 1,033,072 | |
Series 2019 BB, 4% 6/15/50 | 1,770,000 | 1,682,752 | |
Series 2021 A: | |||
4% 6/15/38 | 510,000 | 513,698 | |
5% 6/15/32 | 3,360,000 | 3,880,693 | |
5% 6/15/33 | 945,000 | 1,081,843 | |
Series 2022 A: | |||
4% 6/15/41 | 4,625,000 | 4,572,899 | |
4% 6/15/42 | 3,105,000 | 3,041,612 | |
Series 2022 AA: | |||
5% 6/15/29 | 7,555,000 | 8,557,306 | |
5% 6/15/35 | 590,000 | 668,972 | |
5% 6/15/36 | 6,915,000 | 7,709,647 | |
5% 6/15/37 | 3,195,000 | 3,522,041 | |
Series A: | |||
4% 12/15/39 | 945,000 | 946,758 | |
4.25% 12/15/38 | 2,345,000 | 2,386,811 | |
Series AA: | |||
4% 6/15/38 | 2,660,000 | 2,676,635 | |
4% 6/15/45 | 6,365,000 | 6,137,579 | |
4% 6/15/50 | 895,000 | 850,883 | |
5% 6/15/37 | 2,830,000 | 3,079,702 | |
5% 6/15/50 | 3,160,000 | 3,321,677 | |
South Jersey Trans. Auth. Trans. Sys. Rev. Series 2022 A: | |||
4.5% 11/1/42 | 1,500,000 | 1,519,516 | |
4.625% 11/1/47 | 2,500,000 | 2,542,862 | |
TOTAL NEW JERSEY | 161,893,206 | ||
New Mexico - 0.1% | |||
New Mexico Mtg. Fin. Auth. Series 2019 D, 3.75% 1/1/50 | 1,035,000 | 1,042,791 | |
Santa Fe Retirement Fac. Series 2019 A: | |||
5% 5/15/34 | 215,000 | 206,206 | |
5% 5/15/39 | 160,000 | 145,985 | |
5% 5/15/44 | 170,000 | 148,043 | |
5% 5/15/49 | 335,000 | 283,537 | |
TOTAL NEW MEXICO | 1,826,562 | ||
New York - 6.5% | |||
Dorm. Auth. New York Univ. Rev.: | |||
(Memorial Sloan-Kettring Cancer Ctr.) Series 2017 1, 5% 7/1/42 | 1,470,000 | 1,556,689 | |
Series 2016 A: | |||
5% 7/1/23 | 30,000 | 30,304 | |
5% 7/1/25 | 65,000 | 68,385 | |
5% 7/1/32 | 2,360,000 | 2,520,202 | |
Hempstead Local Dev. Corp. Rev. (Hofstra Univ. Proj.) Series 2021 A, 3% 7/1/51 | 2,285,000 | 1,770,367 | |
Hudson Yards Infrastructure Corp. New York Rev. Series 2017 A, 5% 2/15/33 | 3,395,000 | 3,736,924 | |
Long Island Pwr. Auth. Elec. Sys. Rev. Series 2017: | |||
5% 9/1/33 | 470,000 | 521,621 | |
5% 9/1/35 | 1,890,000 | 2,071,693 | |
5% 9/1/36 | 1,070,000 | 1,168,310 | |
MTA Hudson Rail Yards Trust Oblig. Series 2016 A, 5% 11/15/56 | 16,100,000 | 15,944,888 | |
New York City Edl. Construction Fund Series 2021 B, 5% 4/1/46 | 4,505,000 | 4,885,006 | |
New York City Gen. Oblig.: | |||
Series 2021 A1, 5% 8/1/31 | 6,010,000 | 7,169,639 | |
Series 2022 B1, 5% 8/1/32 | 1,000,000 | 1,233,420 | |
New York City Transitional Fin. Auth. Rev.: | |||
Series 2016 A, 5% 5/1/40 | 1,840,000 | 1,955,448 | |
Series 2017 B, 5% 8/1/40 | 1,890,000 | 2,017,633 | |
Series 2019 B1, 5% 8/1/34 | 1,890,000 | 2,127,949 | |
New York Convention Ctr. Dev. Corp. Rev. Series 2015: | |||
5% 11/15/28 | 6,805,000 | 7,214,920 | |
5% 11/15/29 | 4,720,000 | 4,990,358 | |
New York Dorm. Auth. Rev. Series 2022 A: | |||
5% 7/1/33 | 660,000 | 773,435 | |
5% 7/1/34 | 1,370,000 | 1,588,246 | |
5% 7/15/37 | 570,000 | 602,888 | |
5% 7/1/38 | 1,785,000 | 1,968,535 | |
5% 7/1/42 | 1,180,000 | 1,265,627 | |
5% 7/15/42 | 1,605,000 | 1,659,431 | |
5% 7/15/50 | 4,150,000 | 4,222,432 | |
New York Dorm. Auth. Sales Tax Rev.: | |||
Series 2016 A, 5% 3/15/32 | 1,835,000 | 2,005,331 | |
Series 2018 C, 5% 3/15/38 | 7,820,000 | 8,519,508 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2016 C1, 5% 11/15/56 | 1,890,000 | 1,902,158 | |
Series 2017 C-2: | |||
0% 11/15/29 | 2,150,000 | 1,694,947 | |
0% 11/15/33 | 5,285,000 | 3,498,239 | |
Series 2017 D, 5% 11/15/30 | 4,720,000 | 5,006,036 | |
Series 2020 D: | |||
4% 11/15/46 | 31,520,000 | 28,540,925 | |
4% 11/15/47 | 2,205,000 | 1,983,198 | |
New York State Dorm. Auth.: | |||
Series 2019 D, 3% 2/15/49 | 5,070,000 | 4,065,763 | |
Series 2021 E, 3% 3/15/50 | 5,030,000 | 3,966,602 | |
New York State Urban Dev. Corp. Series 2020 E: | |||
4% 3/15/44 | 22,920,000 | 22,756,745 | |
4% 3/15/45 | 18,600,000 | 18,387,173 | |
New York Urban Dev. Corp. Rev.: | |||
(New York State Gen. Oblig. Proj.) Series 2017 A, 5% 3/15/34 | 3,495,000 | 3,828,975 | |
Gen. Oblig. (New York State Gen. Oblig. Proj.) Series 2017 A, 5% 3/15/32 | 2,955,000 | 3,260,594 | |
Oneida County Local Dev. Corp. Rev. (Mohawk Valley Health Sys. Proj.) Series 2019 A: | |||
4% 12/1/32 (Assured Guaranty Muni. Corp. Insured) | 945,000 | 982,240 | |
5% 12/1/25 (Assured Guaranty Muni. Corp. Insured) | 595,000 | 606,822 | |
5% 12/1/30 (Assured Guaranty Muni. Corp. Insured) | 1,415,000 | 1,612,637 | |
Suffolk County Econ. Dev. Corp. Rev. Series 2021: | |||
5.125% 11/1/41 (d) | 600,000 | 482,397 | |
5.375% 11/1/54 (d) | 1,020,000 | 787,678 | |
TOTAL NEW YORK | 186,952,318 | ||
North Carolina - 1.5% | |||
Charlotte Ctfs. of Prtn. (Convention Facility Projs.) Series 2019 A, 5% 6/1/46 | 2,245,000 | 2,450,832 | |
Charlotte Int'l. Arpt. Rev.: | |||
Series 2017 A: | |||
5% 7/1/35 | 1,890,000 | 2,062,919 | |
5% 7/1/42 | 2,715,000 | 2,872,834 | |
Series 2017 C: | |||
4% 7/1/36 | 1,415,000 | 1,447,692 | |
4% 7/1/37 | 1,415,000 | 1,437,323 | |
New Hanover County Hosp. Rev. Series 2017, 5% 10/1/27 (Escrowed to Maturity) | 210,000 | 235,166 | |
North Carolina Med. Care Commission Health Care Facilities Rev.: | |||
Series 2019 A: | |||
5% 12/1/29 | 1,310,000 | 1,457,573 | |
5% 12/1/30 | 1,360,000 | 1,512,674 | |
5% 12/1/32 | 1,035,000 | 1,144,980 | |
5% 12/1/33 | 755,000 | 830,750 | |
Series 2020 A, 3% 7/1/45 | 1,730,000 | 1,386,495 | |
Series 2021 A: | |||
4% 3/1/36 | 850,000 | 724,326 | |
4% 3/1/51 | 1,790,000 | 1,304,787 | |
North Carolina Muni. Pwr. Agcy. #1 Catawba Elec. Rev. Series 2015 C, 5% 1/1/29 | 7,555,000 | 8,106,918 | |
North Carolina Tpk. Auth. Triangle Expressway Sys. Series 2019: | |||
4% 1/1/55 | 3,045,000 | 2,852,314 | |
5% 1/1/43 | 4,250,000 | 4,471,966 | |
5% 1/1/44 | 5,295,000 | 5,559,602 | |
5% 1/1/49 | 1,890,000 | 1,967,964 | |
TOTAL NORTH CAROLINA | 41,827,115 | ||
North Dakota - 0.1% | |||
Univ. of North Dakota Series 2021 A, 3% 6/1/61 (Assured Guaranty Muni. Corp. Insured) | 3,620,000 | 2,588,667 | |
Ohio - 2.7% | |||
Akron Bath Copley Hosp. District Rev. Series 2016, 5.25% 11/15/46 | 3,965,000 | 4,056,329 | |
American Muni. Pwr., Inc. (Solar Electricity Prepayment Proj.) Series 2019 A: | |||
5% 2/15/38 | 1,415,000 | 1,525,867 | |
5% 2/15/39 | 945,000 | 1,015,758 | |
5% 2/15/44 | 2,975,000 | 3,152,694 | |
American Muni. Pwr., Inc. Rev. (Greenup Hydroelectric Proj.): | |||
Series 2016 A, 5% 2/15/41 | 3,775,000 | 3,915,602 | |
Series 2016, 5% 2/15/46 | 1,210,000 | 1,247,346 | |
Buckeye Tobacco Settlement Fing. Auth.: | |||
Series 2020 A2: | |||
3% 6/1/48 | 2,570,000 | 1,955,278 | |
4% 6/1/48 | 850,000 | 781,282 | |
5% 6/1/27 | 2,125,000 | 2,270,517 | |
5% 6/1/29 | 3,870,000 | 4,235,250 | |
5% 6/1/34 | 1,140,000 | 1,242,009 | |
Series 2020 B2, 5% 6/1/55 | 7,105,000 | 6,774,741 | |
Cleveland Arpt. Sys. Rev. Series 2016 A: | |||
5% 1/1/26 (Assured Guaranty Muni. Corp. Insured) | 470,000 | 492,966 | |
5% 1/1/27 (Assured Guaranty Muni. Corp. Insured) | 2,055,000 | 2,156,452 | |
5% 1/1/31 (Assured Guaranty Muni. Corp. Insured) | 945,000 | 989,525 | |
Cleveland Income Tax Rev. Series 2018 A: | |||
5% 10/1/35 | 1,890,000 | 2,089,911 | |
5% 10/1/37 | 1,180,000 | 1,292,346 | |
5% 10/1/38 | 1,415,000 | 1,545,402 | |
Columbus City School District Series 2016 A, 5% 12/1/32 | 945,000 | 1,019,504 | |
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013: | |||
5% 6/15/25 | 65,000 | 65,235 | |
5% 6/15/26 | 70,000 | 70,260 | |
5% 6/15/27 | 75,000 | 75,269 | |
5% 6/15/28 | 80,000 | 80,273 | |
5.25% 6/15/43 | 4,720,000 | 4,665,307 | |
Lake County Hosp. Facilities Rev. Series 2015, 5% 8/15/27 (Pre-Refunded to 8/15/25 @ 100) | 60,000 | 63,718 | |
Lancaster Port Auth. Gas Rev. Bonds Series 2019, 5%, tender 2/1/25 (b) | 10,450,000 | 10,757,324 | |
Muskingum County Hosp. Facilities (Genesis Healthcare Sys. Obligated Group Proj.) Series 2013, 5% 2/15/27 | 160,000 | 160,104 | |
Ohio Higher Edl. Facility Commission Rev. Series 2019, 4% 10/1/44 | 1,675,000 | 1,611,360 | |
Ohio Hosp. Facilities Rev. Series 2017 A, 5% 1/1/31 | 130,000 | 146,196 | |
Ohio Hosp. Rev. Series 2020 A, 4% 1/15/50 | 780,000 | 720,796 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. (Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 | 375,000 | 383,766 | |
Ohio Tpk. Commission Tpk. Rev. (Infrastructure Proj.) Series 2005 A, 0% 2/15/42 | 5,475,000 | 2,461,380 | |
Scioto County Hosp. Facilities Rev.: | |||
Series 2016, 5% 2/15/29 | 1,195,000 | 1,254,612 | |
Series 2019, 5% 2/15/29 | 2,530,000 | 2,674,935 | |
Univ. of Akron Gen. Receipts Series 2019 A: | |||
4% 1/1/28 | 3,495,000 | 3,706,023 | |
5% 1/1/30 | 1,700,000 | 1,937,257 | |
Washington County Hosp. Rev. Series 2022: | |||
6% 12/1/28 | 1,075,000 | 1,116,683 | |
6% 12/1/29 | 1,140,000 | 1,190,699 | |
6% 12/1/30 | 1,205,000 | 1,262,861 | |
6% 12/1/31 | 1,280,000 | 1,344,083 | |
TOTAL OHIO | 77,506,920 | ||
Oklahoma - 0.1% | |||
Oklahoma City Pub. Property Auth. Hotel Tax Rev. Series 2015: | |||
5% 10/1/24 | 1,045,000 | 1,088,779 | |
5% 10/1/32 | 1,040,000 | 1,106,474 | |
Oklahoma Dev. Fin. Auth. Rev. (Oklahoma City Univ. Proj.) Series 2019, 5% 8/1/44 | 1,590,000 | 1,600,491 | |
TOTAL OKLAHOMA | 3,795,744 | ||
Oregon - 0.7% | |||
Oregon State Hsg. & Cmnty. Svcs. Dept. Series 2019 A, 4% 7/1/50 | 4,385,000 | 4,436,888 | |
Polk Marion & Benton School District # 13J Series B, 0% 12/15/38 | 1,995,000 | 1,089,853 | |
Salem Hosp. Facility Auth. Rev. (Salem Health Projs.) Series 2019 A, 3% 5/15/49 | 3,960,000 | 3,034,479 | |
Washington, Multnomah & Yamhill County School District #1J Series 2017: | |||
5% 6/15/33 | 1,020,000 | 1,131,596 | |
5% 6/15/35 | 2,960,000 | 3,256,692 | |
5% 6/15/36 | 2,830,000 | 3,092,829 | |
5% 6/15/38 | 2,830,000 | 3,074,583 | |
TOTAL OREGON | 19,116,920 | ||
Pennsylvania - 6.3% | |||
Allegheny County Arpt. Auth. Rev. Series 2021 B: | |||
5% 1/1/51 | 5,350,000 | 5,712,188 | |
5% 1/1/56 | 11,795,000 | 12,522,780 | |
Allegheny County Hosp. Dev. Auth. Rev. Series 2019 A, 4% 7/15/36 | 2,360,000 | 2,392,894 | |
Allegheny County Indl. Dev. Auth. Rev. Series 2021: | |||
3.5% 12/1/31 | 1,265,000 | 1,070,769 | |
4% 12/1/41 | 2,135,000 | 1,621,127 | |
4.25% 12/1/50 | 2,375,000 | 1,712,759 | |
Bucks County Indl. Dev. Auth. Hosp. Rev. Series 2021: | |||
5% 7/1/37 | 1,390,000 | 1,389,984 | |
5% 7/1/39 | 2,765,000 | 2,701,887 | |
Cap. Region Wtr. Wtr. Rev. Series 2018: | |||
5% 7/15/26 | 945,000 | 1,025,804 | |
5% 7/15/38 | 945,000 | 1,040,085 | |
Coatesville Area School District Series 2017, 5% 8/1/23 (Assured Guaranty Muni. Corp. Insured) | 425,000 | 430,168 | |
Dauphin County Gen. Auth. (Pinnacle Health Sys. Proj.) Series 2016 A, 5% 6/1/29 | 1,255,000 | 1,332,868 | |
Delaware County Auth. Rev. Series 2017, 5% 7/1/26 | 1,115,000 | 1,150,040 | |
Doylestown Hosp. Auth. Hosp. Rev. Series 2016 A, 5% 7/1/46 | 785,000 | 657,469 | |
Lancaster County Hosp. Auth. Health Ctr. Rev. Series 2021, 5% 11/1/51 | 3,110,000 | 3,237,361 | |
Lehigh County Gen. Purp. Hosp. Rev. Series 2019 A: | |||
4% 7/1/37 | 1,890,000 | 1,893,181 | |
4% 7/1/38 | 2,060,000 | 2,060,362 | |
4% 7/1/39 | 2,360,000 | 2,352,010 | |
5% 7/1/44 | 2,360,000 | 2,474,542 | |
Monroeville Fin. Auth. UPMC Rev. Series 2012, 5% 2/15/26 | 1,605,000 | 1,722,991 | |
Montgomery County Higher Ed. & Health Auth. Rev.: | |||
Series 2014 A, 5% 10/1/23 | 2,225,000 | 2,238,855 | |
Series 2016 A: | |||
5% 10/1/28 | 40,000 | 41,078 | |
5% 10/1/29 | 40,000 | 41,056 | |
5% 10/1/30 | 4,105,000 | 4,210,682 | |
5% 10/1/32 | 130,000 | 133,125 | |
5% 10/1/36 | 4,395,000 | 4,419,047 | |
5% 10/1/40 | 2,405,000 | 2,334,318 | |
Series 2019, 4% 9/1/44 | 4,875,000 | 4,757,518 | |
Northampton County Gen. Purp. Auth. Hosp. Rev. (St. Luke's Univ. Health Network Proj.) Series 2018 A, 4% 8/15/48 | 6,835,000 | 6,470,299 | |
Pennsylvania Ctfs. Prtn. Series 2018 A: | |||
5% 7/1/35 | 710,000 | 784,691 | |
5% 7/1/36 | 945,000 | 1,037,535 | |
5% 7/1/37 | 755,000 | 826,038 | |
5% 7/1/38 | 710,000 | 773,127 | |
5% 7/1/43 | 1,890,000 | 2,011,433 | |
Pennsylvania Higher Edl. Facilities Auth. Rev.: | |||
(Drexel Univ. Proj.) Series 2016, 5% 5/1/35 | 1,495,000 | 1,572,420 | |
Series 2016: | |||
5% 5/1/29 | 945,000 | 1,007,713 | |
5% 5/1/31 | 945,000 | 1,003,644 | |
Pennsylvania Pub. School Bldg. Auth. School Rev. (The School District of The City of Harrisburg Proj.) Series 2016 A: | |||
5% 12/1/29 | 4,595,000 | 4,913,443 | |
5% 12/1/29 (Pre-Refunded to 12/1/26 @ 100) | 720,000 | 792,607 | |
Pennsylvania State Univ. Series 2020 A, 4% 9/1/50 | 2,050,000 | 2,060,234 | |
Pennsylvania Tpk. Commission Tpk. Rev. Series 2021 A, 4% 12/1/50 | 16,995,000 | 16,097,000 | |
Philadelphia Arpt. Rev. Series 2017 A: | |||
5% 7/1/28 | 470,000 | 520,144 | |
5% 7/1/29 | 470,000 | 518,022 | |
5% 7/1/30 | 520,000 | 572,597 | |
5% 7/1/31 | 565,000 | 620,621 | |
5% 7/1/32 | 520,000 | 570,520 | |
5% 7/1/33 | 565,000 | 617,480 | |
5% 7/1/42 | 2,255,000 | 2,367,288 | |
Philadelphia Auth. for Indl. Dev. Series 2017, 5% 11/1/47 | 10,470,000 | 10,683,438 | |
Philadelphia Gas Works Rev.: | |||
Series 16 A, 4% 8/1/45 (Assured Guaranty Muni. Corp. Insured) | 2,185,000 | 2,192,392 | |
Series 2015: | |||
5% 8/1/26 | 945,000 | 998,223 | |
5% 8/1/27 | 945,000 | 998,223 | |
5% 8/1/28 | 1,890,000 | 1,995,978 | |
Philadelphia Gen. Oblig. Series 2019 B: | |||
5% 2/1/33 | 1,510,000 | 1,691,248 | |
5% 2/1/36 | 1,400,000 | 1,536,141 | |
5% 2/1/37 | 1,810,000 | 1,970,612 | |
Philadelphia School District: | |||
Series 2016 F, 5% 9/1/29 | 3,280,000 | 3,536,703 | |
Series 2018 A: | |||
5% 9/1/34 | 1,370,000 | 1,513,245 | |
5% 9/1/35 | 945,000 | 1,035,765 | |
Series 2018 B, 5% 9/1/43 | 1,315,000 | 1,404,991 | |
Series 2019 A: | |||
4% 9/1/35 | 2,175,000 | 2,261,162 | |
4% 9/1/36 | 1,890,000 | 1,945,887 | |
5% 9/1/31 | 1,100,000 | 1,246,858 | |
5% 9/1/33 | 1,945,000 | 2,206,728 | |
5% 9/1/33 | 6,485,000 | 7,316,066 | |
Pittsburgh & Allegheny County Parking Sys. Series 2017: | |||
5% 12/15/35 | 1,060,000 | 1,152,750 | |
5% 12/15/37 | 470,000 | 508,763 | |
Pittsburgh Wtr. & Swr. Auth. Wtr. & Swr. Sys. Rev. Series 2019 B, 5% 9/1/32 (Assured Guaranty Muni. Corp. Insured) | 1,890,000 | 2,301,249 | |
Pocono Mountains Indl. Park Auth. (St. Luke's Hosp. - Monroe Proj.) Series 2015 A, 5% 8/15/40 | 1,695,000 | 1,724,919 | |
Southcentral Pennsylvania Gen. Auth. Rev. Series 2019 A: | |||
4% 6/1/44 | 1,405,000 | 1,398,895 | |
4% 6/1/49 | 3,345,000 | 3,185,962 | |
5% 6/1/44 | 2,450,000 | 2,581,456 | |
5% 6/1/49 | 3,915,000 | 4,099,884 | |
State Pub. School Bldg. Auth. Lease Rev. (The School District of Philadelphia Proj.) Series 2015 A, 5% 6/1/26 | 695,000 | 728,999 | |
Union County Hosp. Auth. Rev. Series 2018 B: | |||
5% 8/1/33 | 945,000 | 1,011,367 | |
5% 8/1/38 | 3,025,000 | 3,191,510 | |
5% 8/1/48 | 2,690,000 | 2,754,067 | |
TOTAL PENNSYLVANIA | 180,987,285 | ||
Puerto Rico - 1.0% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth.: | |||
Series 2021 B: | |||
4% 7/1/42 (d) | 2,165,000 | 1,932,638 | |
5% 7/1/33 (d) | 1,030,000 | 1,056,845 | |
5% 7/1/37 (d) | 4,335,000 | 4,400,194 | |
Series 2022 A, 4% 7/1/42 (d) | 2,165,000 | 1,932,638 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 10,912,493 | 6,319,863 | |
4% 7/1/33 | 8,345,792 | 7,803,317 | |
4% 7/1/35 | 3,005,000 | 2,729,450 | |
5.625% 7/1/27 | 1,085,763 | 1,137,219 | |
5.625% 7/1/29 | 1,260,915 | 1,340,575 | |
TOTAL PUERTO RICO | 28,652,739 | ||
Rhode Island - 0.5% | |||
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev.: | |||
Series 2016 B: | |||
5% 9/1/31 | 4,605,000 | 4,630,791 | |
5% 9/1/36 | 185,000 | 179,391 | |
Series 2016, 5% 5/15/39 | 3,100,000 | 3,147,771 | |
Rhode Island Hsg. & Mtg. Fin. Corp.: | |||
Series 2019 70, 4% 10/1/49 | 785,000 | 793,578 | |
Series 2021 74, 3% 4/1/49 | 5,090,000 | 5,019,305 | |
TOTAL RHODE ISLAND | 13,770,836 | ||
South Carolina - 2.0% | |||
Charleston County Arpt. District Series 2019: | |||
5% 7/1/43 | 1,510,000 | 1,639,659 | |
5% 7/1/48 | 11,330,000 | 12,198,677 | |
South Carolina Hsg. Fin. & Dev. Auth. Mtg. Rev.: | |||
Series 2019 A, 4% 1/1/50 | 1,270,000 | 1,291,852 | |
Series 2022 A: | |||
5% 1/1/29 | 285,000 | 321,449 | |
5% 7/1/29 | 470,000 | 534,510 | |
5% 1/1/30 | 470,000 | 536,229 | |
5% 7/1/30 | 520,000 | 598,306 | |
5% 1/1/31 | 520,000 | 600,553 | |
5% 7/1/31 | 535,000 | 621,676 | |
South Carolina Jobs-Econ. Dev. Auth. Series 2019 C, 5% 7/1/32 | 4,080,000 | 4,502,083 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2016 B: | |||
5% 12/1/35 | 3,425,000 | 3,574,429 | |
5% 12/1/36 | 5,140,000 | 5,345,004 | |
Series 2016 C: | |||
5% 12/1/24 | 485,000 | 504,331 | |
5% 12/1/25 | 565,000 | 600,439 | |
5% 12/1/26 | 945,000 | 1,021,860 | |
Spartanburg County Reg'l. Health Series 2017 A: | |||
4% 4/15/43 | 9,360,000 | 9,064,734 | |
4% 4/15/48 | 6,530,000 | 6,183,845 | |
5% 4/15/48 | 8,855,000 | 9,170,752 | |
TOTAL SOUTH CAROLINA | 58,310,388 | ||
South Dakota - 0.1% | |||
South Dakota Health & Edl. Facilities Auth. Rev.: | |||
Series 2017: | |||
5% 7/1/30 | 805,000 | 890,678 | |
5% 7/1/35 | 685,000 | 736,169 | |
Series 2020 A, 3% 9/1/45 | 2,245,000 | 1,792,954 | |
TOTAL SOUTH DAKOTA | 3,419,801 | ||
Tennessee - 0.8% | |||
Chattanooga Health Ed. & Hsg. Facility Board Rev.: | |||
Series 2019 A1, 4% 8/1/44 | 1,700,000 | 1,635,791 | |
Series 2019 A2: | |||
5% 8/1/37 | 810,000 | 860,952 | |
5% 8/1/44 | 1,125,000 | 1,171,153 | |
Greeneville Health & Edl. Facilities Board Series 2018 A, 5% 7/1/25 | 945,000 | 951,283 | |
Nashville and Davidson County Metropolitan Govt. Health & Edl. Facilities Board Rev. (Lipscomb Univ. Proj.) Series 2019 A: | |||
4% 10/1/49 | 2,445,000 | 1,986,841 | |
5.25% 10/1/58 | 7,340,000 | 7,293,354 | |
Shelby County Health Edl. & Hsg. Facilities Board Rev. (Methodist Le Bonheur Health Proj.) Series 2017 A: | |||
5% 5/1/25 | 1,225,000 | 1,285,840 | |
5% 5/1/27 | 1,160,000 | 1,270,657 | |
5% 5/1/29 | 1,170,000 | 1,279,487 | |
5% 5/1/30 | 2,260,000 | 2,465,223 | |
5% 5/1/31 | 1,190,000 | 1,294,632 | |
TOTAL TENNESSEE | 21,495,213 | ||
Texas - 6.3% | |||
Central Reg'l. Mobility Auth.: | |||
Series 2020 A, 5% 1/1/49 | 3,720,000 | 3,985,978 | |
Series 2020 B, 5% 1/1/45 | 1,650,000 | 1,777,791 | |
Collin County Series 2022, 4% 2/15/39 | 1,275,000 | 1,298,425 | |
Dallas Area Rapid Transit Sales Tax Rev. Series 2020 A, 5% 12/1/45 | 1,355,000 | 1,484,547 | |
Dallas Fort Worth Int'l. Arpt. Rev.: | |||
Series 2020 B: | |||
4% 11/1/34 | 3,220,000 | 3,398,562 | |
4% 11/1/35 | 2,860,000 | 2,965,960 | |
Series 2021 B, 5% 11/1/43 | 2,325,000 | 2,552,545 | |
Garland Elec. Util. Sys. Rev. Series 2021 A: | |||
4% 3/1/46 | 1,700,000 | 1,661,580 | |
4% 3/1/51 | 2,125,000 | 2,039,475 | |
Grand Parkway Trans. Corp.: | |||
Series 2018 A: | |||
5% 10/1/36 | 4,720,000 | 5,155,710 | |
5% 10/1/37 | 9,440,000 | 10,244,639 | |
5% 10/1/43 | 5,195,000 | 5,556,552 | |
Series 2020 C, 4% 10/1/49 | 2,740,000 | 2,673,031 | |
Greenville Gen. Oblig. Series 2021, 2% 2/15/33 | 1,055,000 | 922,749 | |
Harris County Toll Road Rev. (Harris County Toll Road Auth. Proj.) Series 2018 A, 5% 8/15/33 | 1,890,000 | 2,121,062 | |
Houston Arpt. Sys. Rev. Series 2018 D: | |||
5% 7/1/29 | 1,795,000 | 2,040,554 | |
5% 7/1/30 | 2,360,000 | 2,681,124 | |
5% 7/1/31 | 2,125,000 | 2,412,796 | |
5% 7/1/32 | 1,890,000 | 2,142,933 | |
5% 7/1/39 | 6,685,000 | 7,275,791 | |
Houston Util. Sys. Rev. Series 2016 B, 5% 11/15/33 | 1,320,000 | 1,437,347 | |
Irving Hosp. Auth. Hosp. Rev. Series 2017 A: | |||
5% 10/15/33 | 995,000 | 1,048,552 | |
5% 10/15/34 | 1,575,000 | 1,651,318 | |
5% 10/15/35 | 1,145,000 | 1,192,521 | |
5% 10/15/44 | 790,000 | 797,846 | |
Lower Colorado River Auth. Rev.: | |||
(LCRA Transmission Svcs. Corp. Proj.) Series 2018: | |||
5% 5/15/33 | 4,260,000 | 4,754,416 | |
5% 5/15/35 | 2,005,000 | 2,210,886 | |
Series 2015 B: | |||
5% 5/15/30 | 4,250,000 | 4,468,929 | |
5% 5/15/31 | 6,800,000 | 7,136,459 | |
New Hope Cultural Ed. Facilities Fin. Corp. (Childrens Med. Ctr. of Dallas) Series 2017 A: | |||
5% 8/15/28 | 1,415,000 | 1,563,476 | |
5% 8/15/47 | 1,140,000 | 1,184,644 | |
Newark Higher Ed. Fin. Corp. (Abilene Christian Univ. Proj.) Series 2016 A, 5% 4/1/29 | 1,985,000 | 2,114,229 | |
North Texas Tollway Auth. Rev.: | |||
(Sr. Lien Proj.) Series 2017 A: | |||
5% 1/1/30 | 1,345,000 | 1,437,421 | |
5% 1/1/34 | 945,000 | 1,023,016 | |
5% 1/1/35 | 1,225,000 | 1,320,044 | |
5% 1/1/36 | 1,135,000 | 1,215,641 | |
5% 1/1/37 | 4,440,000 | 4,739,161 | |
(Sub Lien Proj.) Series 2017 B: | |||
5% 1/1/30 | 250,000 | 266,453 | |
5% 1/1/31 | 350,000 | 372,775 | |
5% 1/1/33 | 1,415,000 | 1,531,110 | |
Series 2014, 5% 1/1/24 | 170,000 | 173,777 | |
Series 2015 A, 5% 1/1/32 | 1,465,000 | 1,528,695 | |
Series 2016 A: | |||
5% 1/1/32 | 2,830,000 | 3,015,756 | |
5% 1/1/39 | 945,000 | 990,111 | |
Series 2018, 0% 1/1/29 (Assured Guaranty Corp. Insured) | 14,265,000 | 12,011,320 | |
Series 2021 B, 3% 1/1/46 | 4,000,000 | 3,047,650 | |
San Antonio Elec. & Gas Sys. Rev. Series 2017: | |||
5% 2/1/32 | 1,180,000 | 1,306,563 | |
5% 2/1/34 | 1,415,000 | 1,559,229 | |
San Antonio Independent School District Series 2016, 5% 8/15/31 | 1,900,000 | 2,077,132 | |
Southwest Higher Ed. Auth. Rev. (Southern Methodist Univ., TX. Proj.) Series 2017: | |||
5% 10/1/32 | 710,000 | 778,394 | |
5% 10/1/41 | 1,415,000 | 1,515,131 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Series 2015, 5% 9/1/30 | 4,720,000 | 4,870,313 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev.: | |||
Series 2016 A, 5% 2/15/41 | 7,620,000 | 7,899,993 | |
Series 2018 B, 5% 7/1/43 | 1,320,000 | 1,376,606 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Series 2019, 2.95% 7/1/36 | 3,494,405 | 3,259,399 | |
Texas Dept. of Hsg. & Cmnty. Affairs Single Family Mtg. Rev.: | |||
Series 2019 A, 4% 3/1/50 | 2,760,000 | 2,811,086 | |
Series A, 3.5% 3/1/51 | 2,580,000 | 2,584,982 | |
Texas Private Activity Bond Surface Trans. Corp. (LBJ Infrastructure Group LLC I-635 Managed Lanes Proj.) Series 2020 A: | |||
4% 12/31/36 | 1,920,000 | 1,902,617 | |
4% 6/30/37 | 2,830,000 | 2,784,362 | |
4% 12/31/37 | 3,775,000 | 3,711,872 | |
4% 12/31/38 | 2,125,000 | 2,069,620 | |
Texas State Univ. Sys. Fing. Rev.: | |||
Series 2017 A, 5% 3/15/31 | 1,890,000 | 2,067,878 | |
Series 2019 A: | |||
4% 3/15/34 | 2,125,000 | 2,254,185 | |
4% 3/15/35 | 1,890,000 | 1,983,069 | |
Texas Wtr. Dev. Board Rev.: | |||
Series 2018 B, 5% 4/15/49 | 1,765,000 | 1,900,400 | |
Series 2021, 2.5% 10/15/39 | 2,000,000 | 1,669,166 | |
Univ. of Houston Univ. Revs. Series 2017 A, 5% 2/15/33 | 3,305,000 | 3,537,951 | |
Univ. of Texas Permanent Univ. Fund Rev. Series 2016 B, 5% 7/1/29 | 885,000 | 968,961 | |
TOTAL TEXAS | 181,514,266 | ||
Utah - 1.2% | |||
Salt Lake City Arpt. Rev.: | |||
Series 2017 B: | |||
5% 7/1/34 | 1,550,000 | 1,701,367 | |
5% 7/1/35 | 1,415,000 | 1,543,846 | |
5% 7/1/36 | 1,415,000 | 1,532,310 | |
5% 7/1/37 | 945,000 | 1,018,127 | |
Series 2021 B: | |||
5% 7/1/46 | 5,225,000 | 5,673,402 | |
5% 7/1/51 | 21,060,000 | 22,717,868 | |
TOTAL UTAH | 34,186,920 | ||
Vermont - 0.2% | |||
Vermont Edl. & Health Bldg. Fin. Agcy. Rev. (Champlain College Proj.) Series 2016 A: | |||
5% 10/15/41 | 2,265,000 | 2,271,090 | |
5% 10/15/46 | 2,645,000 | 2,616,425 | |
TOTAL VERMONT | 4,887,515 | ||
Virginia - 1.1% | |||
Chesapeake Gen. Oblig. Series 2020 A: | |||
5% 8/1/34 | 1,120,000 | 1,320,214 | |
5% 8/1/35 | 1,230,000 | 1,435,667 | |
Fredericksburg Econ. Dev. Auth. Rev. Series 2014, 5% 6/15/26 | 1,850,000 | 1,909,663 | |
Lynchburg Econ. Dev. Series 2021, 3% 1/1/51 | 2,010,000 | 1,490,357 | |
Stafford County Econ. Dev. Auth. Hosp. Facilities Rev.: | |||
(Mary Washington Hosp. Proj.) Series 2016, 3% 6/15/29 | 350,000 | 351,235 | |
Series 2016: | |||
4% 6/15/37 | 325,000 | 325,324 | |
5% 6/15/28 | 945,000 | 1,007,762 | |
5% 6/15/33 | 210,000 | 220,687 | |
5% 6/15/36 | 945,000 | 979,684 | |
Virginia College Bldg. Auth. Edl. Facilities Rev. (21St Century Collage and Equip. Programs) Series 2021 A, 4% 2/1/35 | 16,100,000 | 17,296,594 | |
Virginia Commonwealth Trans. Board Rev. (Virginia Gen. Oblig. Proj.) Series 2017 A: | |||
5% 5/15/32 | 450,000 | 505,243 | |
5% 5/15/33 | 1,890,000 | 2,119,694 | |
Winchester Econ. Dev. Auth. Series 2015, 5% 1/1/44 | 2,360,000 | 2,395,000 | |
TOTAL VIRGINIA | 31,357,124 | ||
Washington - 3.0% | |||
Chelan County Pub. Util. District #1 Columbia River-Rock Island Hydro-Elec. Sys. Rev. Series A, 0% 6/1/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,395,000 | 1,197,475 | |
Port of Seattle Rev. Series 2016: | |||
5% 2/1/25 | 1,180,000 | 1,237,445 | |
5% 2/1/28 | 1,890,000 | 2,032,304 | |
Tacoma Elec. Sys. Rev. Series 2017: | |||
5% 1/1/37 | 945,000 | 1,021,323 | |
5% 1/1/38 | 945,000 | 1,020,595 | |
Washington Convention Ctr. Pub. Facilities Series 2021, 4% 7/1/31 | 11,755,000 | 11,022,259 | |
Washington Gen. Oblig.: | |||
Series 2015 C, 5% 2/1/34 | 905,000 | 949,780 | |
Series 2017 D, 5% 2/1/33 | 1,985,000 | 2,183,418 | |
Series 2021 A, 5% 6/1/35 | 4,000,000 | 4,614,376 | |
Series R-2017 A: | |||
5% 8/1/28 | 890,000 | 973,651 | |
5% 8/1/30 | 890,000 | 971,766 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Overlake Hosp. Med. Ctr., WA. Proj.) Series 2017 B: | |||
5% 7/1/29 | 380,000 | 412,702 | |
5% 7/1/31 | 810,000 | 874,911 | |
5% 7/1/34 | 2,495,000 | 2,664,753 | |
5% 7/1/35 | 2,220,000 | 2,350,323 | |
5% 7/1/36 | 2,125,000 | 2,236,222 | |
5% 7/1/42 | 8,705,000 | 8,904,586 | |
(Providence Health Systems Proj.) Series 2018 B: | |||
5% 10/1/30 | 1,135,000 | 1,274,871 | |
5% 10/1/31 | 1,415,000 | 1,580,218 | |
5% 10/1/32 | 975,000 | 1,081,604 | |
5% 10/1/33 | 2,360,000 | 2,598,282 | |
(Virginia Mason Med. Ctr. Proj.) Series 2017: | |||
5% 8/15/29 | 2,125,000 | 2,275,054 | |
5% 8/15/30 | 945,000 | 1,011,259 | |
Series 2017 B, 4% 8/15/41 | 6,845,000 | 6,611,996 | |
Series 2019 A1: | |||
5% 8/1/34 | 1,790,000 | 1,952,194 | |
5% 8/1/37 | 945,000 | 1,004,444 | |
Series 2019 A2: | |||
5% 8/1/35 | 2,695,000 | 2,909,124 | |
5% 8/1/39 | 1,055,000 | 1,111,251 | |
Series 2020, 5% 9/1/55 | 9,515,000 | 9,960,887 | |
Washington Higher Ed. Facilities Auth. Rev.: | |||
(Gonzaga Univ. Proj.) Series 2019 A, 3% 4/1/49 | 3,245,000 | 2,468,666 | |
(Whitworth Univ. Proj.) Series 2016 A: | |||
5% 10/1/34 | 1,510,000 | 1,576,360 | |
5% 10/1/35 | 945,000 | 981,568 | |
5% 10/1/40 | 1,535,000 | 1,572,712 | |
Washington Hsg. Fin. Commission Nonprofit Hsg. Rev. (Judson Park Proj.) Series 2018: | |||
4% 7/1/28 (d) | 100,000 | 93,321 | |
5% 7/1/33 (d) | 325,000 | 308,279 | |
5% 7/1/38 (d) | 100,000 | 90,496 | |
5% 7/1/48 (d) | 300,000 | 254,899 | |
TOTAL WASHINGTON | 85,385,374 | ||
West Virginia - 0.1% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 A, 5% 1/1/33 | 1,735,000 | 1,855,430 | |
Wisconsin - 1.7% | |||
Blue Ridge Healthcare Pub. Fin. Auth. Series 2020 A, 4% 1/1/45 | 1,415,000 | 1,349,533 | |
Pub. Fin. Auth. Edl. Facilities Series 2018 A: | |||
5.25% 10/1/43 | 575,000 | 579,619 | |
5.25% 10/1/48 | 575,000 | 575,851 | |
Pub. Fin. Auth. Hosp. Rev.: | |||
Series 2019 A, 5% 10/1/44 | 5,820,000 | 6,028,564 | |
Series 2020 A, 3% 6/1/45 | 3,000,000 | 2,372,477 | |
Pub. Fin. Auth. Sr. Living Rev. (Mary's Woods At Marylhurst, Inc. Proj.) Series 2017 A: | |||
5% 5/15/25 (d) | 500,000 | 500,711 | |
5% 5/15/28 (d) | 550,000 | 542,933 | |
5.25% 5/15/37 (d) | 180,000 | 172,990 | |
5.25% 5/15/42 (d) | 220,000 | 206,044 | |
5.25% 5/15/47 (d) | 220,000 | 200,854 | |
5.25% 5/15/52 (d) | 410,000 | 368,823 | |
Pub. Fin. Auth. Wisconsin Retirement Facility Rev. Series 2018: | |||
5% 10/1/43 (d) | 485,000 | 431,107 | |
5% 10/1/48 (d) | 625,000 | 539,247 | |
5% 10/1/53 (d) | 1,615,000 | 1,367,810 | |
Roseman Univ. of Health: | |||
Series 2020, 5% 4/1/50 (d) | 1,085,000 | 1,020,644 | |
Series 2021 A: | |||
3% 7/1/50 | 1,740,000 | 1,316,740 | |
4.5% 6/1/56 (d) | 12,205,000 | 9,337,406 | |
Series 2021 B, 6.5% 6/1/56 (d) | 3,990,000 | 3,304,220 | |
Wisconsin Health & Edl. Facilities: | |||
Series 2014: | |||
4% 5/1/33 | 1,395,000 | 1,405,579 | |
5% 5/1/25 | 730,000 | 747,300 | |
Series 2015, 5% 12/15/44 | 7,315,000 | 7,408,260 | |
Series 2017 A: | |||
5% 9/1/30 (Pre-Refunded to 9/1/27 @ 100) | 1,200,000 | 1,335,794 | |
5% 9/1/32 (Pre-Refunded to 9/1/27 @ 100) | 1,040,000 | 1,157,688 | |
Series 2019 A, 5% 11/1/39 | 3,975,000 | 3,531,332 | |
Series 2019 B1, 2.825% 11/1/28 | 1,125,000 | 1,005,588 | |
Series 2019 B2, 2.55% 11/1/27 | 610,000 | 578,164 | |
Wisconsin Health & Edl. Facilities Auth. Rev. Series 2012, 5% 6/1/39 | 1,125,000 | 1,125,536 | |
TOTAL WISCONSIN | 48,510,814 | ||
TOTAL MUNICIPAL BONDS (Cost $2,837,328,818) | 2,748,239,191 | ||
Municipal Notes - 0.4% | |||
Principal Amount (a) | Value ($) | ||
Arizona - 0.2% | |||
Arizona St Indl. Dev. Auth. Multi Participating VRDN Series MIZ 91 18, 1.32% 2/1/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(h)(i) | 6,500,000 | 6,500,000 | |
Texas - 0.2% | |||
Gulf Coast Indl. Dev. Auth. TX Rev. (ExxonMobil Proj.) Series 2012, 1.1% 2/1/23, VRDN (b) | 5,300,000 | 5,300,000 | |
TOTAL MUNICIPAL NOTES (Cost $11,800,000) | 11,800,000 | ||
Money Market Funds - 3.3% | |||
Shares | Value ($) | ||
Fidelity Tax-Free Cash Central Fund 1.39% (j)(k) (Cost $93,598,653) | 93,571,376 | 93,599,434 | |
TOTAL INVESTMENT IN SECURITIES - 99.2% (Cost $2,942,727,471) | 2,853,638,625 |
NET OTHER ASSETS (LIABILITIES) - 0.8% | 23,737,820 |
NET ASSETS - 100.0% | 2,877,376,445 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(d) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $51,572,852 or 1.8% of net assets. |
(e) | Security initially issued in zero coupon form which converts to coupon form at a specified rate and date. The rate shown is the rate at period end. |
(f) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(g) | A portion of the security sold on a delayed delivery basis. |
(h) | Provides evidence of ownership in one or more underlying municipal bonds. |
(i) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(j) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Tax-Free Cash Central Fund. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Tax-Free Cash Central Fund 1.39% | 70,108,427 | 1,143,144,005 | 1,119,653,000 | 643,162 | 6,212 | (6,210) | 93,599,434 | 9.1% |
Total | 70,108,427 | 1,143,144,005 | 1,119,653,000 | 643,162 | 6,212 | (6,210) | 93,599,434 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 2,760,039,191 | - | 2,760,039,191 | - |
Money Market Funds | 93,599,434 | 93,599,434 | - | - |
Total Investments in Securities: | 2,853,638,625 | 93,599,434 | 2,760,039,191 | - |
Statement of Assets and Liabilities | ||||
January 31, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,849,128,818) | $ | 2,760,039,191 | ||
Fidelity Central Funds (cost $93,598,653) | 93,599,434 | |||
Total Investment in Securities (cost $2,942,727,471) | $ | 2,853,638,625 | ||
Cash | 107,500 | |||
Receivable for securities sold on a delayed delivery basis | 137,019 | |||
Receivable for fund shares sold | 2,739,403 | |||
Interest receivable | 28,422,164 | |||
Distributions receivable from Fidelity Central Funds | 91,972 | |||
Prepaid expenses | 2,606 | |||
Receivable from investment adviser for expense reductions | 489,355 | |||
Other receivables | 1,769 | |||
Total assets | 2,885,630,413 | |||
Liabilities | ||||
Payable for investments purchased on a delayed delivery basis | $ | 2,629,627 | ||
Payable for fund shares redeemed | 1,764,685 | |||
Distributions payable | 2,727,025 | |||
Accrued management fee | 819,862 | |||
Other affiliated payables | 248,745 | |||
Other payables and accrued expenses | 64,024 | |||
Total Liabilities | 8,253,968 | |||
Net Assets | $ | 2,877,376,445 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 3,012,354,542 | ||
Total accumulated earnings (loss) | (134,978,097) | |||
Net Assets | $ | 2,877,376,445 | ||
Net Asset Value , offering price and redemption price per share ($2,877,376,445 ÷ 262,606,809 shares) | $ | 10.96 |
Statement of Operations | ||||
Year ended January 31, 2023 | ||||
Investment Income | ||||
Interest | $ | 97,722,397 | ||
Income from Fidelity Central Funds | 642,624 | |||
Total Income | 98,365,021 | |||
Expenses | ||||
Management fee | $ | 11,305,954 | ||
Transfer agent fees | 2,920,982 | |||
Accounting fees and expenses | 542,589 | |||
Custodian fees and expenses | 31,701 | |||
Independent trustees' fees and expenses | 11,675 | |||
Registration fees | 104,198 | |||
Audit | 67,160 | |||
Legal | 5,301 | |||
Miscellaneous | 16,152 | |||
Total expenses before reductions | 15,005,712 | |||
Expense reductions | (6,949,862) | |||
Total expenses after reductions | 8,055,850 | |||
Net Investment income (loss) | 90,309,171 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (46,200,102) | |||
Redemptions in-kind | (10,197,768) | |||
Fidelity Central Funds | 6,212 | |||
Capital gain distributions from Fidelity Central Funds | 538 | |||
Total net realized gain (loss) | (56,391,120) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (252,361,532) | |||
Fidelity Central Funds | (6,210) | |||
Total change in net unrealized appreciation (depreciation) | (252,367,742) | |||
Net gain (loss) | (308,758,862) | |||
Net increase (decrease) in net assets resulting from operations | $ | (218,449,691) |
Statement of Changes in Net Assets | ||||
Year ended January 31, 2023 | Year ended January 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 90,309,171 | $ | 110,582,951 |
Net realized gain (loss) | (56,391,120) | 14,010,485 | ||
Change in net unrealized appreciation (depreciation) | (252,367,742) | (182,614,888) | ||
Net increase (decrease) in net assets resulting from operations | (218,449,691) | (58,021,452) | ||
Distributions to shareholders | (90,744,332) | (123,268,008) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,285,693,354 | 913,491,530 | ||
Reinvestment of distributions | 50,620,037 | 57,887,688 | ||
Cost of shares redeemed | (2,668,009,654) | (746,733,438) | ||
Net increase (decrease) in net assets resulting from share transactions | (1,331,696,263) | 224,645,780 | ||
Total increase (decrease) in net assets | (1,640,890,286) | 43,356,320 | ||
Net Assets | ||||
Beginning of period | 4,518,266,731 | 4,474,910,411 | ||
End of period | $ | 2,877,376,445 | $ | 4,518,266,731 |
Other Information | ||||
Shares | ||||
Sold | 118,888,176 | 74,806,481 | ||
Issued in reinvestment of distributions | 4,670,605 | 4,763,272 | ||
Redeemed | (244,286,870) | (61,459,051) | ||
Net increase (decrease) | (120,728,089) | 18,110,702 | ||
Fidelity® Tax-Free Bond Fund |
Years ended January 31, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 11.79 | $ | 12.25 | $ | 12.13 | $ | 11.37 | $ | 11.39 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .304 | .291 | .312 | .337 | .340 | |||||
Net realized and unrealized gain (loss) | (.828) | (.427) | .152 | .772 | .003 | |||||
Total from investment operations | (.524) | (.136) | .464 | 1.109 | .343 | |||||
Distributions from net investment income | (.304) | (.291) | (.312) | (.337) | (.340) | |||||
Distributions from net realized gain | (.002) | (.033) | (.032) | (.012) | (.023) | |||||
Total distributions | (.306) | (.324) | (.344) | (.349) | (.363) | |||||
Net asset value, end of period | $ | 10.96 | $ | 11.79 | $ | 12.25 | $ | 12.13 | $ | 11.37 |
Total Return C | (4.38)% | (1.16)% | 3.94% | 9.87% | 3.09% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .46% | .46% | .46% | .46% | .46% | |||||
Expenses net of fee waivers, if any | .25% | .25% | .25% | .25% | .25% | |||||
Expenses net of all reductions | .25% | .25% | .25% | .25% | .25% | |||||
Net investment income (loss) | 2.78% | 2.39% | 2.62% | 2.86% | 3.02% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 2,877,376 | $ | 4,518,267 | $ | 4,474,910 | $ | 4,458,835 | $ | 3,611,503 |
Portfolio turnover rate F | 11% G | 8% | 19% | 8% | 23% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $40,316,145 |
Gross unrealized depreciation | (128,929,534) |
Net unrealized appreciation (depreciation) | $(88,613,389) |
Tax Cost | $2,942,252,014 |
Capital loss carryforward | $(46,184,349) |
Net unrealized appreciation (depreciation) on securities and other investments | $(88,613,389) |
Short-term | $(35,814,736) |
Long-term | (10,369,613) |
Total capital loss carryforward | $(46,184,349) |
January 31, 2023 | January 31, 2022 | |
Tax-exempt Income | $90,014,082 | $110,516,107 |
Long-term Capital Gains | 730,250 | 12,751,901 |
Total | $90,744,332 | $123,268,008 |
Purchases ($) | Sales ($) | |
Fidelity Tax-Free Bond Fund | 343,243,513 | 1,580,263,175 |
% of Average Net Assets | |
Fidelity Tax-Free Bond Fund | .02 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Tax-Free Bond Fund | 1,100,000 | - | - |
Shares | Total net realized gain or loss ($) | Total Proceeds($) | |
Fidelity Tax-Free Bond Fund | 16,954,008 | (10,197,768) | 180,390,645 |
Amount | |
Fidelity Tax-Free Bond Fund | $6,073 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2022 to January 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2022 | Ending Account Value January 31, 2023 | Expenses Paid During Period- C August 1, 2022 to January 31, 2023 | |||||||
Fidelity® Tax-Free Bond Fund | .25% | |||||||||
Actual | $ 1,000 | $ 1,007.50 | $ 1.27 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.95 | $ 1.28 | |||||||
![](https://capedge.com/proxy/N-CSR/0000035315-23-000161/img88778_7.jpg)
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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![](https://capedge.com/proxy/N-CSR/0000035315-23-000161/img88793_1.jpg)
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Contents
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity SAI Sustainable Conservative Income Municipal Bond Fund, on June 16, 2022, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond 1 Year (1-2 Y) Index performed over the same period. |
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Top Five States (% of Fund's net assets) | |
New York | 16.2 |
Alabama | 10.0 |
Texas | 6.2 |
Georgia | 5.0 |
Tennessee | 4.7 |
Revenue Sources (% of Fund's net assets) | ||
Synthetics | 22.7% | |
General Obligations | 16.3% | |
Industrial Development | 11.6% | |
Health Care | 10.1% | |
Resource Recovery | 9.1% | |
Electric Utilities | 7.7% | |
Education | 7.6% | |
State G.O. | 6.9% | |
Housing | 5.3% | |
Others* (Individually Less Than 5%) | 2.7% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
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We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 57.6 | |
8 - 30 | 5.6 | |
31 - 60 | 0.3 | |
61 - 90 | 6.0 | |
91 - 180 | 2.7 | |
> 180 | 27.8 | |
The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets. |
Municipal Bonds - 40.5% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 3.0% | |||
Black Belt Energy Gas District: | |||
Bonds Series 2018 A, 4%, tender 12/1/23 (b) | 100,000 | 100,281 | |
Series 2021 C1, 4% 12/1/23 | 10,000 | 10,038 | |
Series 2022 C1: | |||
5.25% 12/1/24 | 5,000 | 5,145 | |
5.25% 12/1/25 | 5,000 | 5,222 | |
Series 2022 E: | |||
5% 6/1/24 | 50,000 | 51,121 | |
5% 6/1/25 | 50,000 | 51,987 | |
5% 6/1/26 | 50,000 | 52,810 | |
Southeast Alabama Gas Supply District Bonds (Proj. No. 2) Series 2018 A, 4%, tender 6/1/24 (b) | 35,000 | 35,078 | |
TOTAL ALABAMA | 311,682 | ||
Arizona - 0.8% | |||
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.) Series 2019, 5%, tender 6/3/24 (b)(c) | 80,000 | 81,213 | |
California - 3.8% | |||
California Muni. Fin. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.): | |||
Series 2021 A, 3.875%, tender 4/3/23 (b)(c) | 50,000 | 50,042 | |
Series 2021 B, 3.6%, tender 7/17/23 (b)(c) | 100,000 | 100,063 | |
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2017 A1, 3.45%, tender 4/17/23 (b)(c)(d) | 200,000 | 200,050 | |
Univ. of California Revs. Bonds Series 2013 AK, 5%, tender 5/15/23 (b) | 50,000 | 50,372 | |
TOTAL CALIFORNIA | 400,527 | ||
Connecticut - 2.3% | |||
Connecticut Gen. Oblig.: | |||
Series 2016 B, 5% 5/15/25 | 10,000 | 10,598 | |
Series 2018 F, 5% 9/15/23 | 75,000 | 76,203 | |
Connecticut Health & Edl. Facilities Auth. Rev. Bonds: | |||
Series 2010 A3, 0.25%, tender 2/9/24 (b) | 50,000 | 48,412 | |
Series 2014 A, 1.1%, tender 2/7/23 (b) | 100,000 | 99,967 | |
TOTAL CONNECTICUT | 235,180 | ||
Florida - 2.0% | |||
Duval County School Board Ctfs. of Prtn. Series 2022 A, 5% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 100,000 | 108,592 | |
Florida Dev. Fin. Corp. Rev. Bonds (Brightline Florida Passenger Rail Expansion Proj.) Series 2021 A, 2.9%, tender 4/4/23 (b)(c) | 100,000 | 99,940 | |
TOTAL FLORIDA | 208,532 | ||
Georgia - 1.2% | |||
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.): | |||
Series 2009 1st, 2.75%, tender 3/15/23 (b) | 30,000 | 29,994 | |
Series 2013, 2.875%, tender 8/19/25 (b) | 100,000 | 98,279 | |
TOTAL GEORGIA | 128,273 | ||
Hawaii - 0.5% | |||
Honolulu City & County Gen. Oblig. Bonds (Honolulu Rail Transit Proj.) Series 2019 E, 5%, tender 9/1/23 (b) | 55,000 | 55,458 | |
Illinois - 2.0% | |||
Illinois Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2019, 4.4%, tender 11/1/23 (b)(c) | 100,000 | 100,787 | |
Illinois Fin. Auth. Series 2022 A, 5% 10/1/24 | 100,000 | 101,744 | |
Illinois Gen. Oblig. Series 2017 D, 5% 11/1/26 | 5,000 | 5,332 | |
TOTAL ILLINOIS | 207,863 | ||
Indiana - 0.5% | |||
Indiana Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2001, 4%, tender 10/2/23 (b)(c) | 50,000 | 50,220 | |
Kentucky - 0.6% | |||
Kentucky State Property & Buildings Commission Rev. Series 2013 A, 5% 10/1/23 | 50,000 | 50,756 | |
Kentucky, Inc. Pub. Energy Bonds Series 2018 A, 4%, tender 4/1/24 (b) | 15,000 | 15,032 | |
TOTAL KENTUCKY | 65,788 | ||
Massachusetts - 0.9% | |||
Massachusetts Bay Trans. Auth. Sales Tax Rev. Series C, 5.5% 7/1/23 | 60,000 | 60,758 | |
Massachusetts Gen. Oblig. Bonds Series 2020 A, 5%, tender 6/1/23 (b) | 30,000 | 30,268 | |
TOTAL MASSACHUSETTS | 91,026 | ||
Michigan - 1.4% | |||
Coopersville Area Pub. Schools Series 2022 I: | |||
4% 5/1/26 | 30,000 | 31,502 | |
5% 5/1/25 | 110,000 | 116,303 | |
TOTAL MICHIGAN | 147,805 | ||
Minnesota - 0.2% | |||
Minnesota Hsg. Fin. Agcy. Series 2022 A, 5% 8/1/23 | 25,000 | 25,316 | |
Nebraska - 1.0% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 105,000 | 106,337 | |
Nevada - 2.4% | |||
Nevada Dept. of Bus. & Industry Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2001, 3.75%, tender 6/1/23 (b)(c)(d) | 50,000 | 50,042 | |
Series 2023 A, 3.7%, tender 1/31/24 (b)(c) | 200,000 | 200,033 | |
TOTAL NEVADA | 250,075 | ||
New Hampshire - 0.9% | |||
Nat'l. Fin. Auth. Solid Bonds (Waste Mgmt., Inc. Proj.) Series 2019 A1, 2.15%, tender 7/1/24 (b)(c) | 100,000 | 97,413 | |
New Jersey - 2.5% | |||
New Jersey Econ. Dev. Auth. Rev.: | |||
Series 2013, 5% 3/1/25 | 25,000 | 25,043 | |
Series 2019, 5.25% 9/1/24 (d) | 100,000 | 103,963 | |
New Jersey Edl. Facility (Stevens Institute of Techonolgy Proj.) Series 2017 A, 5% 7/1/25 | 75,000 | 78,280 | |
New Jersey Trans. Trust Fund Auth. Series 2010 D, 5.25% 12/15/23 | 55,000 | 56,184 | |
TOTAL NEW JERSEY | 263,470 | ||
New York - 3.3% | |||
New York City Hsg. Dev. Corp. Multifamily Hsg. Bonds Series 2021 K2, 0.9%, tender 1/1/26 (b) | 165,000 | 152,986 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Bonds Series 2020 A2, 5%, tender 5/15/24 (b) | 100,000 | 102,235 | |
Series 2020 A, 5% 2/1/23 | 90,000 | 90,000 | |
TOTAL NEW YORK | 345,221 | ||
Oregon - 2.3% | |||
Oregon Bus. Dev. Commission Recovery Zone Facility Bonds (Intel Corp. Proj.) Series 232, 2.4%, tender 8/14/23 (b) | 100,000 | 99,594 | |
Union County Hosp. Facility Auth. Series 2022, 5% 7/1/24 | 135,000 | 138,170 | |
TOTAL OREGON | 237,764 | ||
Pennsylvania - 1.9% | |||
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2014, 3.8%, tender 4/3/23 (b)(c) | 100,000 | 100,078 | |
(Waste Mgmt., Inc. Proj.) Series 2013, 4%, tender 2/1/23 (b)(c) | 100,000 | 99,999 | |
TOTAL PENNSYLVANIA | 200,077 | ||
Tennessee - 2.8% | |||
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 95,000 | 97,329 | |
Tennessee Energy Acquisition Corp. Bonds (Gas Rev. Proj.) Series A, 4%, tender 5/1/23 (b) | 200,000 | 200,209 | |
TOTAL TENNESSEE | 297,538 | ||
Texas - 1.4% | |||
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2020 B, 3.5%, tender 3/1/23 (b)(c) | 100,000 | 100,009 | |
Pflugerville Independent School District Bonds Series 2019 B, 2.5%, tender 8/15/23 (b) | 35,000 | 34,826 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Bonds (Baylor Scott & White Health Proj.) Series 2022 E, 5%, tender 5/15/26 (b) | 15,000 | 15,992 | |
TOTAL TEXAS | 150,827 | ||
Virginia - 0.8% | |||
Louisa Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2008 B, 0.75%, tender 9/2/25 (b) | 95,000 | 87,267 | |
Wisconsin - 2.0% | |||
Pub. Fin. Auth. Health Care Sys. Rev. Series 2023 A, 5% 10/1/24 (e) | 200,000 | 208,184 | |
TOTAL MUNICIPAL BONDS (Cost $4,260,573) | 4,253,056 | ||
Municipal Notes - 62.1% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 7.0% | |||
Black Belt Energy Gas District Participating VRDN Series ZL 03 97, 1.96% 2/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 330,000 | 330,000 | |
Southeast Energy Auth. Rev. Bonds Participating VRDN Series XG 04 10, 1.96% 2/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 300,000 | 300,000 | |
West Jefferson Indl. Dev. Board Solid Waste Disp. Rev. (Alabama Pwr. Co. Miller Plant Proj.) Series 2008, 1.42% 2/1/23, VRDN (b)(c) | 100,000 | 100,000 | |
TOTAL ALABAMA | 730,000 | ||
Alaska - 1.9% | |||
Valdez Marine Term. Rev. (Phillips Trans. Alaska, Inc. Proj.) Series 1994 B, 1.78% 2/7/23, VRDN (b) | 200,000 | 200,000 | |
Connecticut - 1.9% | |||
Connecticut Gen. Oblig. Series 2016 C, 1.68% 2/7/23 (Liquidity Facility Bank of America NA), VRDN (b) | 200,000 | 200,000 | |
Georgia - 3.8% | |||
Bartow County Dev. Auth. (Georgia Pwr. Co. Plant Bowen Proj.) Series 2022, 1.55% 2/1/23, VRDN (b)(c) | 300,000 | 300,000 | |
Monroe County Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2019, 1.35% 2/1/23, VRDN (b)(c) | 100,000 | 100,000 | |
TOTAL GEORGIA | 400,000 | ||
Indiana - 0.9% | |||
Indiana Dev. Fin. Auth. Envir. Rev. (PSI Energy Proj.) Series 2003 A, 2.05% 2/7/23, VRDN (b)(c) | 100,000 | 100,000 | |
Kentucky - 3.8% | |||
Kentucky Tpk. Auth. Econ. Dev. Road Rev. Participating VRDN Series XF 24 84, 1.86% 2/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 300,000 | 300,000 | |
Meade County Indl. Bldg. Rev. (Nucor Steel Brandenburg Proj.) Series 2020 A1, 2.11% 2/1/23, VRDN (b)(c) | 100,000 | 100,000 | |
TOTAL KENTUCKY | 400,000 | ||
Louisiana - 4.1% | |||
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.): | |||
Series 2010 A1, 2.13% 2/7/23, VRDN (b) | 100,000 | 100,000 | |
Series 2010 B1, 2.3% 2/7/23, VRDN (b) | 330,000 | 330,000 | |
TOTAL LOUISIANA | 430,000 | ||
Minnesota - 3.8% | |||
Minnesota Higher Ed. Facilities Auth. Rev. Series 1994 3Z, 1.85% 2/1/23, VRDN (b) | 400,000 | 400,000 | |
Missouri - 1.9% | |||
Missouri Health & Edl. Facilities Auth. Edl. Facilities Rev. Participating VRDN Series XG 01 76, 1.79% 2/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 200,000 | 200,000 | |
New York - 12.9% | |||
New York City Gen. Oblig. Series 2012 2, 1.6% 2/8/23, VRDN (b) | 500,000 | 499,997 | |
New York City Hsg. Dev. Corp. Multi-family Mtg. Rev. (Ogden Avenue Apts. Proj.) Series A, 1.69% 2/7/23, LOC Fannie Mae, VRDN (b)(c) | 200,000 | 200,000 | |
New York Dorm. Auth. Rev. Participating VRDN Series XF 13 28, 1.83% 2/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 450,000 | 450,000 | |
New York Metropolitan Trans. Auth. Rev. Participating VRDN Series XF 13 55, 1.84% 2/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL NEW YORK | 1,349,997 | ||
North Carolina - 2.9% | |||
Raleigh Ctfs. of Prtn. (Downtown Impt. Proj.) Series 2005 B1, 1.77% 2/7/23 (Liquidity Facility PNC Bank NA), VRDN (b) | 300,000 | 300,000 | |
Ohio - 3.8% | |||
Allen County Hosp. Facilities Rev. Series 2012 B, 2.1% 2/7/23 (Liquidity Facility Ohio Gen. Oblig.), VRDN (b) | 400,000 | 400,000 | |
South Carolina - 0.9% | |||
Greenville Hosp. Sys. Facilities Rev. Participating VRDN Series XF 01 45, 1.86% 2/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 100,000 | 100,000 | |
Tennessee - 1.9% | |||
Chattanooga Health Ed. & Hsg. Facility Board Rev. (Catholic Health Initiatives Proj.) Series C, 2.05% 2/7/23, VRDN (b) | 200,000 | 200,000 | |
Texas - 4.8% | |||
Port Arthur Navigation District Indl. Dev. Corp. Exempt Facilities Rev. (Air Products Proj.): | |||
Series 2001, 1.74% 2/7/23, VRDN (b)(c) | 200,000 | 200,000 | |
Series 2002, 1.74% 2/7/23, VRDN (b)(c) | 100,000 | 100,000 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Participating VRDN Series E 141, 1.69% 2/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL TEXAS | 500,000 | ||
Virginia - 2.9% | |||
Lynchburg Econ. Dev. Participating VRDN Series XL 00 75, 1.91% 2/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 300,000 | 300,000 | |
Washington - 1.9% | |||
Seattle Hsg. Auth. Rev. (Douglas Apts. Proj.) Series 2008, 1.85% 2/7/23, LOC KeyBank NA, VRDN (b) | 200,000 | 200,000 | |
West Virginia - 1.0% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 E, 2.18% 2/6/26, VRDN (b) | 100,000 | 100,000 | |
TOTAL MUNICIPAL NOTES (Cost $6,509,998) | 6,509,997 | ||
TOTAL INVESTMENT IN SECURITIES - 102.6% (Cost $10,770,571) | 10,763,053 |
NET OTHER ASSETS (LIABILITIES) - (2.6)% | (271,278) |
NET ASSETS - 100.0% | 10,491,775 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $354,055 or 3.4% of net assets. |
(e) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(f) | Provides evidence of ownership in one or more underlying municipal bonds. |
(g) | Coupon rates are determined by re-marketing agents based on current market conditions. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Municipal Cash Central Fund 1.40% | - | 898,000 | 898,000 | 519 | - | - | - | 0.0% |
Total | - | 898,000 | 898,000 | 519 | - | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 10,763,053 | - | 10,763,053 | - |
Total Investments in Securities: | 10,763,053 | - | 10,763,053 | - |
Statement of Assets and Liabilities | ||||
January 31, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $10,770,571): | $ | 10,763,053 | ||
Interest receivable | 58,402 | |||
Prepaid expenses | 8,139 | |||
Receivable from investment adviser for expense reductions | 8,373 | |||
Other receivables | 57 | |||
Total assets | 10,838,024 | |||
Liabilities | ||||
Payable to custodian bank | $ | 94,171 | ||
Payable for investments purchased on a delayed delivery basis | 208,262 | |||
Distributions payable | 587 | |||
Accrued management fee | 2,597 | |||
Audit fee payable | 40,219 | |||
Other payables and accrued expenses | 413 | |||
Total Liabilities | 346,249 | |||
Net Assets | $ | 10,491,775 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 10,498,508 | ||
Total accumulated earnings (loss) | (6,733) | |||
Net Assets | $ | 10,491,775 | ||
Net Asset Value , offering price and redemption price per share ($10,491,775 ÷ 1,049,963 shares) | $ | 9.99 |
Statement of Operations | ||||
For the period June 16, 2022 (commencement of operations) through January 31, 2023 | ||||
Investment Income | ||||
Interest | $ | 133,375 | ||
Income from Fidelity Central Funds | 519 | |||
Total Income | 133,894 | |||
Expenses | ||||
Management fee | $ | 18,863 | ||
Custodian fees and expenses | 816 | |||
Independent trustees' fees and expenses | 20 | |||
Registration fees | 16,718 | |||
Audit | 45,794 | |||
Legal | 3 | |||
Miscellaneous | 33 | |||
Total expenses before reductions | 82,247 | |||
Expense reductions | (66,863) | |||
Total expenses after reductions | 15,384 | |||
Net Investment income (loss) | 118,510 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 103 | |||
Total net realized gain (loss) | 103 | |||
Change in net unrealized appreciation (depreciation) on investment securities | (7,518) | |||
Net gain (loss) | (7,415) | |||
Net increase (decrease) in net assets resulting from operations | $ | 111,095 |
Statement of Changes in Net Assets | ||
For the period June 16, 2022 (commencement of operations) through January 31, 2023 | ||
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $ | 118,510 |
Net realized gain (loss) | 103 | |
Change in net unrealized appreciation (depreciation) | (7,518) | |
Net increase (decrease) in net assets resulting from operations | 111,095 | |
Distributions to shareholders | (117,828) | |
Share transactions | ||
Proceeds from sales of shares | 10,386,249 | |
Reinvestment of distributions | 116,752 | |
Cost of shares redeemed | (4,493) | |
Net increase (decrease) in net assets resulting from share transactions | 10,498,508 | |
Total increase (decrease) in net assets | 10,491,775 | |
Net Assets | ||
Beginning of period | - | |
End of period | $ | 10,491,775 |
Other Information | ||
Shares | ||
Sold | 1,038,704 | |
Issued in reinvestment of distributions | 11,709 | |
Redeemed | (450) | |
Net increase (decrease) | 1,049,963 | |
Fidelity SAI Sustainable Conservative Income Municipal Bond Fund |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .117 | |
Net realized and unrealized gain (loss) | (.011) | |
Total from investment operations | .106 | |
Distributions from net investment income | (.116) | |
Total distributions | (.116) | |
Net asset value, end of period | $ | 9.99 |
Total Return D,E | 1.07% | |
Ratios to Average Net Assets C,F,G | ||
Expenses before reductions | 1.03% H,I | |
Expenses net of fee waivers, if any | .25% H | |
Expenses net of all reductions | .24% H | |
Net investment income (loss) | 1.86% H | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 10,492 |
Portfolio turnover rate J | 42% H |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $8,362 |
Gross unrealized depreciation | (15,148) |
Net unrealized appreciation (depreciation) | $(6,786) |
Tax Cost | $10,769,839 |
Undistributed ordinary income | $102 |
Net unrealized appreciation (depreciation) on securities and other investments | $(6,786) |
January 31, 2023 A | |
Tax-exempt Income | $117,828 |
Total | $117,828 |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable Conservative Income Municipal Bond Fund | 4,980,537 | 815,000 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity SAI Sustainable Conservative Income Municipal Bond Fund | - | 500,000 | - |
Fund | Affiliated % |
Fidelity SAI Sustainable Conservative Income Municipal Bond Fund | 96% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2022 to January 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2022 | Ending Account Value January 31, 2023 | Expenses Paid During Period- C August 1, 2022 to January 31, 2023 | |||||||
Fidelity® SAI Sustainable Conservative Income Municipal Bond Fund | .25% | |||||||||
Actual | $ 1,000 | $ 1,008.70 | $ 1.27 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.95 | $ 1.28 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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Contents
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity Sustainable Intermediate Municipal Income Fund, a class of the fund, on April 13, 2022, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
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Top Five States (% of Fund's net assets) | |
New York | 15.0 |
California | 8.1 |
Florida | 8.1 |
Massachusetts | 6.0 |
Georgia | 5.1 |
Revenue Sources (% of Fund's net assets) | ||
General Obligations | 21.5% | |
Health Care | 15.8% | |
Education | 13.6% | |
Electric Utilities | 12.4% | |
Special Tax | 9.7% | |
Water & Sewer | 6.6% | |
Others* (Individually Less Than 5%) | 20.4% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
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We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 92.4% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 1.0% | |||
Black Belt Energy Gas District Bonds: | |||
Series 2022 D1, 4%, tender 6/1/27 (b) | 10,000 | 10,182 | |
Series 2022 F, 5.5%, tender 12/1/28 (b) | 100,000 | 107,404 | |
Southeast Energy Auth. Rev. Bonds Bonds Series 2022 B1, 5%, tender 8/1/28 (b) | 20,000 | 20,959 | |
TOTAL ALABAMA | 138,545 | ||
Arizona - 4.4% | |||
Chandler Indl. Dev. Auth. Indl. Dev. Rev. (Intel Corp. Proj.) Series 2022 2, 5%, tender 9/1/27 (b)(c) | 50,000 | 52,965 | |
Maricopa County Unified School District #48 Scottsdale Series D, 4% 7/1/24 | 80,000 | 81,841 | |
Phoenix Civic Impt. Corp. Wastewtr. Sys. Rev. Series 2016, 5% 7/1/30 | 50,000 | 54,554 | |
Phoenix Civic Impt. Corp. Wtr. Sys. Rev. Series 2021 A, 5% 7/1/35 | 175,000 | 205,940 | |
Salt Verde Finl. Corp. Sr. Gas Rev. Series 2007 1, 5% 12/1/32 | 165,000 | 179,988 | |
TOTAL ARIZONA | 575,288 | ||
California - 8.1% | |||
California Health Facilities Fing. Auth. Rev. Bonds Series 2019 C, 5%, tender 10/1/25 (b) | 150,000 | 159,070 | |
California Hsg. Fin. Agcy. Series 2021 1, 3.5% 11/20/35 | 97,313 | 94,287 | |
California Muni. Fin. Auth. Rev. Series 2018, 5% 10/1/25 | 15,000 | 15,569 | |
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2017 A1, 3.45%, tender 4/17/23 (b)(c)(d) | 200,000 | 200,050 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2016, 5% 10/1/33 | 25,000 | 26,415 | |
Los Angeles Dept. of Wtr. & Pwr. Wtrwks. Rev.: | |||
Series 2017 A, 5% 7/1/32 | 15,000 | 16,666 | |
Series 2022 B: | |||
5% 7/1/31 | 30,000 | 36,930 | |
5% 7/1/32 | 100,000 | 123,898 | |
Riverside Elec. Rev. Series 2019 A, 5% 10/1/43 | 5,000 | 5,496 | |
San Francisco Bay Area Rapid Transit District Sales Tax Rev. Series 2015 A, 5% 7/1/27 | 10,000 | 10,703 | |
San Francisco Bay Area Rapid Transit Fing. Auth. Series 2019 F1, 5% 8/1/23 | 125,000 | 126,682 | |
Southern California Pub. Pwr. Auth. Transmission Proj. Rev. (Southern Transmission Proj.) Series 2017 A, 5% 7/1/23 | 250,000 | 252,813 | |
TOTAL CALIFORNIA | 1,068,579 | ||
Colorado - 1.1% | |||
Colorado Ctfs. of Prtn. Series 2020 A, 4% 12/15/38 | 10,000 | 10,242 | |
Colorado Health Facilities Auth. Rev. Bonds Series 2019 A2, 5% 8/1/33 | 125,000 | 137,296 | |
TOTAL COLORADO | 147,538 | ||
Connecticut - 3.7% | |||
Connecticut Gen. Oblig.: | |||
Series 2019 A, 5% 4/15/33 | 25,000 | 28,434 | |
Series 2021 D, 5% 7/15/28 | 75,000 | 85,462 | |
Connecticut Health & Edl. Facilities Auth. Rev. Series 2016 A, 2%, tender 7/1/26 (b) | 35,000 | 33,690 | |
Connecticut Hsg. Fin. Auth. Series 2021 D1: | |||
5% 11/15/27 | 10,000 | 11,057 | |
5% 11/15/28 | 25,000 | 28,077 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2021 A, 4% 5/1/36 | 130,000 | 137,327 | |
Series A: | |||
5% 9/1/26 | 100,000 | 109,618 | |
5% 5/1/29 | 20,000 | 23,258 | |
South Central Reg'l. Wtr. Auth. Wtr. Sys. Rev. Series 32 B, 5% 8/1/32 | 25,000 | 27,119 | |
TOTAL CONNECTICUT | 484,042 | ||
District Of Columbia - 0.2% | |||
District of Columbia Univ. Rev. Series 2017: | |||
5% 4/1/29 | 20,000 | 21,674 | |
5% 4/1/33 | 10,000 | 10,799 | |
TOTAL DISTRICT OF COLUMBIA | 32,473 | ||
Florida - 7.7% | |||
Broward County School Board Ctfs. of Prtn.: | |||
Series 2015 A, 5% 7/1/26 | 30,000 | 31,895 | |
Series 2020 A, 5% 7/1/33 | 25,000 | 29,278 | |
Duval County School Board Ctfs. of Prtn. Series 2022 A, 5% 7/1/34 (Assured Guaranty Muni. Corp. Insured) | 250,000 | 289,469 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Series 2020 A, 5% 8/15/34 | 200,000 | 215,619 | |
Florida Hsg. Fin. Corp. Rev. Series 2020 1, 3.5% 7/1/51 | 80,000 | 80,054 | |
JEA Wtr. & Swr. Sys. Rev. Series 2017 A, 5% 10/1/29 | 25,000 | 27,941 | |
Miami-Dade County Wtr. & Swr. Rev. Series 2017 B, 5% 10/1/27 | 60,000 | 67,303 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. (Jupiter Med. Ctr. Proj.) Series 2022, 5% 11/1/35 | 100,000 | 107,747 | |
Palm Beach County School Board Ctfs. of Prtn.: | |||
Series 2018 A, 5% 8/1/24 | 20,000 | 20,737 | |
Series 2021 A, 5% 8/1/38 | 125,000 | 141,263 | |
TOTAL FLORIDA | 1,011,306 | ||
Georgia - 3.6% | |||
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.) Series 2013, 2.875%, tender 8/19/25 (b) | 100,000 | 98,279 | |
Fulton County Dev. Auth. Rev. Series 2019, 5% 6/15/44 | 10,000 | 10,999 | |
Main Street Natural Gas, Inc. Bonds: | |||
Series 2019 B, 4%, tender 12/2/24 (b) | 135,000 | 135,888 | |
Series 2021 A, 4%, tender 9/1/27 (b) | 100,000 | 101,922 | |
Series 2022 B, 5%, tender 6/1/29 (b) | 15,000 | 15,854 | |
Private Colleges & Univs. Auth. Rev. Series 2019 A, 5% 9/1/39 | 100,000 | 111,809 | |
TOTAL GEORGIA | 474,751 | ||
Hawaii - 0.1% | |||
Honolulu City & County Gen. Oblig. Series 2019 A, 5% 9/1/27 | 10,000 | 11,243 | |
Illinois - 3.1% | |||
Illinois Fin. Auth. Series 2022 A, 5% 10/1/32 | 100,000 | 105,300 | |
Illinois Fin. Auth. Academic Facilities (Provident Group UIUC Properties LLC Univ. of Illinois at Urbana-Champaign Proj.) Series 2019 A: | |||
5% 10/1/32 | 10,000 | 11,198 | |
5% 10/1/38 | 100,000 | 106,962 | |
Illinois Fin. Auth. Rev.: | |||
(Presence Health Proj.) Series 2016 C, 5% 2/15/36 | 30,000 | 31,671 | |
Series 2014 A, 5% 10/1/26 | 40,000 | 41,649 | |
Series 2016 A, 5% 7/1/31 (Pre-Refunded to 7/1/26 @ 100) | 50,000 | 54,502 | |
Illinois Hsg. Dev. Auth. Rev. Series D, 3.75% 4/1/50 | 20,000 | 20,164 | |
McHenry County Conservation District Gen. Oblig. Series 2014, 5% 2/1/24 | 40,000 | 40,995 | |
TOTAL ILLINOIS | 412,441 | ||
Indiana - 1.1% | |||
Indiana Dev. Fin. Auth. Envir. Rev. Bonds Series 2022 A1, 4.5%, tender 6/1/32 (b)(c) | 100,000 | 103,016 | |
Indiana Hsg. & Cmnty. Dev. Auth.: | |||
Series 2021 B, Series 2021 B, 5% 1/1/28 | 15,000 | 16,662 | |
Series A, 5% 7/1/28 | 25,000 | 28,301 | |
TOTAL INDIANA | 147,979 | ||
Iowa - 0.8% | |||
Iowa Student Ln. Liquidity Corp. Student Ln. Rev. Series 2022 B, 5% 12/1/29 (c) | 100,000 | 111,636 | |
Kentucky - 1.2% | |||
Kentucky Bond Dev. Corp. Edl. Facilities Series 2021: | |||
4% 6/1/33 | 5,000 | 5,258 | |
4% 6/1/35 | 15,000 | 15,300 | |
Kentucky State Property & Buildings Commission Rev.: | |||
Series A: | |||
5% 11/1/31 | 30,000 | 33,819 | |
5% 11/1/33 | 15,000 | 16,833 | |
Series B, 5% 8/1/26 | 75,000 | 81,285 | |
TOTAL KENTUCKY | 152,495 | ||
Maine - 0.1% | |||
Maine Health & Higher Edl. Facilities Auth. Rev. Series 2017 B, 5% 7/1/28 | 10,000 | 10,914 | |
Maryland - 2.0% | |||
Baltimore Proj. Rev. (Wtr. Projs.) Series 2014 A, 5% 7/1/24 | 150,000 | 155,101 | |
Maryland Dept. of Trans.: | |||
Series 2016, 4% 9/1/27 | 15,000 | 16,179 | |
Series 2021 A, 2% 10/1/34 | 15,000 | 13,012 | |
Maryland Gen. Oblig. Series A, 5% 8/1/34 | 15,000 | 17,681 | |
Montgomery County Gen. Oblig. Ctfs. of Prtn. Series 2020 A, 5% 10/1/27 | 50,000 | 56,441 | |
TOTAL MARYLAND | 258,414 | ||
Massachusetts - 6.0% | |||
Arlington Gen. Oblig. Series 2021, 2% 9/15/34 | 275,000 | 238,832 | |
Massachusetts Bay Trans. Auth. Sales Tax Rev.: | |||
Series 2015 B, 5% 7/1/26 (Pre-Refunded to 7/1/25 @ 100) | 10,000 | 10,649 | |
Series 2016 A, 0% 7/1/29 | 5,000 | 4,067 | |
Series 2021 A1, 5% 7/1/35 | 45,000 | 52,956 | |
Massachusetts Commonwealth Trans. Fund Rev. Series 2021 A, 5% 6/1/51 | 100,000 | 109,462 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
(Partners Healthcare Sys., Inc. Proj.) Series 2017 S, 5% 7/1/32 | 15,000 | 16,576 | |
Bonds Series A1, 5%, tender 1/31/30 (b) | 20,000 | 22,888 | |
Series 2015 O1, 4% 7/1/45 | 30,000 | 29,611 | |
Series 2018 L, 5% 10/1/33 | 35,000 | 37,703 | |
Series 2020 A: | |||
5% 10/15/29 | 35,000 | 41,402 | |
5% 10/15/30 | 20,000 | 24,148 | |
Series 2021 G, 4% 7/1/46 | 75,000 | 68,104 | |
Massachusetts Gen. Oblig.: | |||
Series 2017 A, 5% 4/1/36 | 15,000 | 16,332 | |
Series 2017 D, 5% 7/1/27 | 25,000 | 28,052 | |
Series A, 5% 7/1/31 | 10,000 | 10,922 | |
Massachusetts School Bldg. Auth. Dedicated Sales Tax Rev. Series A, 5% 8/15/32 | 10,000 | 11,815 | |
Univ. of Massachusetts Bldg. Auth. Rev. Series 2021 1, 5% 11/1/32 | 50,000 | 59,320 | |
TOTAL MASSACHUSETTS | 782,839 | ||
Michigan - 1.8% | |||
Grand Rapids San. Swr. Sys. Rev.: | |||
Series 2018, 5% 1/1/35 | 5,000 | 5,512 | |
Series 2018, 5% 1/1/29 | 25,000 | 28,207 | |
Great Lakes Wtr. Auth. Sew Disp. Sys. Series 2018 B, 5% 7/1/29 | 45,000 | 51,433 | |
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016, 4% 5/15/36 | 10,000 | 10,009 | |
Lake Orion Cmnty. School District Series 2016, 5% 5/1/25 | 10,000 | 10,575 | |
Michigan Fin. Auth. Rev.: | |||
Bonds Series 2019 B, 5%, tender 11/16/26 (b) | 10,000 | 10,778 | |
Series 2016: | |||
5% 11/15/28 | 15,000 | 16,184 | |
5% 11/15/30 | 35,000 | 37,664 | |
5% 11/15/34 | 15,000 | 15,948 | |
Series 2022, 5% 12/1/32 | 25,000 | 27,331 | |
Michigan Hosp. Fin. Auth. Rev. Series 2010 F4, 5% 11/15/47 | 10,000 | 10,449 | |
Univ. of Michigan Rev. Series 2020 A, 5% 4/1/39 | 10,000 | 11,351 | |
TOTAL MICHIGAN | 235,441 | ||
Minnesota - 3.4% | |||
Anoka-Hennepin Independent School District #11 Series 2020 A, 4% 2/1/29 | 10,000 | 10,813 | |
Hennepin County Sales Tax Rev. (Ballpark Proj.) Series 2017 A, 5% 12/15/24 | 265,000 | 277,282 | |
Minnesota Gen. Oblig. Series 2019 A, 5% 8/1/30 | 15,000 | 17,568 | |
Minnesota Hsg. Fin. Agcy.: | |||
Series 2022 A, 5% 8/1/32 | 100,000 | 120,495 | |
Series B, 4% 8/1/36 | 15,000 | 15,664 | |
TOTAL MINNESOTA | 441,822 | ||
Nebraska - 1.5% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 50,000 | 50,637 | |
Douglas County Hosp. Auth. #2 Health Facilities Rev. Series 2020 A, 5% 11/15/30 | 125,000 | 144,370 | |
TOTAL NEBRASKA | 195,007 | ||
New Hampshire - 0.9% | |||
New Hampshire Health & Ed. Facilities Auth.: | |||
(Concord Hosp.) Series 2017, 5% 10/1/42 | 15,000 | 15,661 | |
(Partners Healthcare Sys., Inc. Proj.) Series 2017, 5% 7/1/25 | 5,000 | 5,309 | |
New Hampshire Nat'l. Fin. Auth. Series 2022 2, 4% 10/20/36 | 99,601 | 96,503 | |
TOTAL NEW HAMPSHIRE | 117,473 | ||
New Jersey - 4.5% | |||
New Jersey Edl. Facility Series A, 5% 7/1/36 | 15,000 | 16,092 | |
New Jersey Health Care Facilities Fing. Auth. Rev. Series 2016 A, 5% 7/1/33 | 10,000 | 10,775 | |
New Jersey Trans. Trust Fund Auth.: | |||
Series 2018 A, 5% 12/15/32 | 100,000 | 111,137 | |
Series 2021 A, 5% 6/15/33 | 95,000 | 108,757 | |
Series 2022 A, 4% 6/15/39 | 30,000 | 30,073 | |
Series 2022 BB, 5% 6/15/31 | 135,000 | 156,887 | |
Series 2022 CC, 5% 6/15/33 | 100,000 | 116,713 | |
Series A, 0% 12/15/31 | 50,000 | 36,810 | |
TOTAL NEW JERSEY | 587,244 | ||
New York - 15.0% | |||
Dutchess County Local Dev. Corp. Rev. (Vassar College Proj.) Series 2020, 5% 7/1/45 | 25,000 | 27,092 | |
Long Island Pwr. Auth. Elec. Sys. Rev.: | |||
Series 2018, 5% 9/1/27 | 15,000 | 16,864 | |
Series 2020 A, 5% 9/1/38 | 165,000 | 185,126 | |
Series 2022 A, 5% 9/1/33 | 100,000 | 121,655 | |
New York City Transitional Fin. Auth. Bldg. Aid Rev. Series 2017 S1, 5% 7/15/28 | 50,000 | 55,804 | |
New York Dorm. Auth. Rev.: | |||
Series 2013 A, 5% 7/1/23 | 310,000 | 313,242 | |
Series 2022 A, 5% 7/1/34 | 200,000 | 222,458 | |
New York Dorm. Auth. Sales Tax Rev. Series 2015 A, 5% 3/15/24 (Escrowed to Maturity) | 25,000 | 25,726 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2017 C1: | |||
5% 11/15/27 | 20,000 | 21,533 | |
5% 11/15/29 | 50,000 | 53,079 | |
5% 11/15/31 | 140,000 | 148,277 | |
Series 2019 C, 5% 11/15/39 | 70,000 | 73,274 | |
New York State Dorm. Auth.: | |||
Series 2017 A, 5% 2/15/31 | 10,000 | 11,049 | |
Series 2019 D, 4% 2/15/36 | 15,000 | 15,485 | |
New York State Urban Dev. Corp. Series 2020 E, 4% 3/15/35 | 30,000 | 31,261 | |
New York State Urban Eev Corp. Series 2019 A, 5% 3/15/37 | 80,000 | 89,891 | |
New York Thruway Auth. Personal Income Tax Rev. Series 2021 A1, 5% 3/15/34 | 205,000 | 242,587 | |
Saratoga County Cap. Resources Rev. (Skidmore College Proj.) Series 2020 A, 5% 7/1/45 | 85,000 | 92,688 | |
Suffolk County Gen. Oblig. Series 2017 D, 4% 2/1/28 (Build America Mutual Assurance Insured) | 100,000 | 108,034 | |
Triborough Bridge & Tunnel Auth. Series 2023 A, 4% 11/15/34 | 100,000 | 111,684 | |
TOTAL NEW YORK | 1,966,809 | ||
North Carolina - 1.1% | |||
Charlotte-Mecklenburg Hosp. Auth. Health Care Sys. Rev. Bonds Series 2021 C, 5%, tender 12/1/28 (b) | 25,000 | 28,344 | |
Univ. of North Carolina at Chapel Hill Rev. Series 2021 B, 5% 12/1/38 | 100,000 | 117,476 | |
TOTAL NORTH CAROLINA | 145,820 | ||
Ohio - 2.6% | |||
Ohio Air Quality Dev. Auth. Rev. Bonds Series 2022 B, 4.25%, tender 6/1/27 (b)(c) | 150,000 | 153,566 | |
Ohio Gen. Oblig. Series 2019 A, 5% 5/1/30 | 20,000 | 22,248 | |
Ohio Higher Edl. Facility Commission Rev. (Univ. of Dayton Proj.) Series 2018 B, 5% 12/1/29 | 25,000 | 27,606 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. (Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 | 100,000 | 102,337 | |
Ohio Spl. Oblig. Series 2021 A, 5% 4/1/41 | 20,000 | 22,495 | |
Ohio State Univ. Gen. Receipts (Multiyear Debt Issuance Prog.) Series 2020 A, 5% 12/1/29 | 10,000 | 11,769 | |
TOTAL OHIO | 340,021 | ||
Oklahoma - 0.4% | |||
Grand River Dam Auth. Rev. Series 2014 A, 5% 6/1/26 | 40,000 | 41,330 | |
Oklahoma State Univ. Agricultural And Mechanical College Series 2020 A, 5% 9/1/32 | 10,000 | 11,778 | |
TOTAL OKLAHOMA | 53,108 | ||
Oregon - 2.1% | |||
Gilliam County Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2003 A, 3%, tender 5/1/23 (b)(c) | 50,000 | 49,954 | |
Medford Hosp. Facilities Auth. Rev. (Asante Projs.) Series 2020 A, 5% 8/15/38 | 10,000 | 10,912 | |
Oregon Facilities Auth. Rev. Series 2022 B, 5% 6/1/30 | 30,000 | 34,279 | |
Salem Hosp. Facility Auth. Rev. Series 2016 A, 4% 5/15/41 | 25,000 | 25,047 | |
Union County Hosp. Facility Auth. (Grande Ronde Hosp. Proj.) Series 2022, 5% 7/1/25 | 150,000 | 155,956 | |
TOTAL OREGON | 276,148 | ||
Pennsylvania - 1.6% | |||
Cumberland County Muni. Auth. Rev. (Dickinson Proj.) Series 2017, 5% 5/1/37 | 5,000 | 5,367 | |
Dubois Hosp. Auth. Hosp. Rev. (Penn Highlands Healthcare Proj.) Series 2018: | |||
5% 7/15/27 | 50,000 | 53,946 | |
5% 7/15/28 | 35,000 | 38,055 | |
Montgomery County Higher Ed. & Health Auth. Rev. Series 2019, 5% 9/1/31 | 10,000 | 11,138 | |
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2014, 3.8%, tender 4/3/23 (b)(c) | 100,000 | 100,078 | |
TOTAL PENNSYLVANIA | 208,584 | ||
Rhode Island - 0.9% | |||
Rhode Island Student Ln. Auth. Student Ln. Rev. Series 2021 A, 5% 12/1/30 (c) | 100,000 | 113,019 | |
Tennessee - 0.6% | |||
Knox County Health Edl. & Hsg. Facilities Board Rev. Series 2017, 5% 4/1/27 | 20,000 | 21,390 | |
Nashville and Davidson County Metropolitan Govt. Gen. Oblig. Series 2021 C, 5% 1/1/28 | 50,000 | 56,552 | |
TOTAL TENNESSEE | 77,942 | ||
Texas - 3.5% | |||
Alvin Independent School District Series 2016 A, 5% 2/15/28 | 25,000 | 26,944 | |
Cypress-Fairbanks Independent School District Series 2016, 5% 2/15/25 | 15,000 | 15,804 | |
Georgetown Util. Sys. Rev. Series 2022, 5% 8/15/27 (Assured Guaranty Muni. Corp. Insured) | 100,000 | 110,757 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Series 2014 A, 5% 12/1/26 | 90,000 | 94,003 | |
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2020 B, 3.5%, tender 3/1/23 (b)(c) | 100,000 | 100,009 | |
San Antonio Wtr. Sys. Rev.: | |||
Series 2018 A, 5% 5/15/33 | 5,000 | 5,630 | |
Series 2020 A, 5% 5/15/27 | 10,000 | 11,121 | |
Tarrant Reg'l. Wtr. District (City of Dallas Proj.) Series 2021 A, 4% 9/1/25 | 45,000 | 46,982 | |
Wichita Falls Independent School District Series 2021, 4% 2/1/28 | 50,000 | 53,787 | |
TOTAL TEXAS | 465,037 | ||
Virginia - 3.9% | |||
Louisa Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2008 B, 0.75%, tender 9/2/25 (b) | 105,000 | 96,453 | |
Virginia College Bldg. Auth. Edl. Facilities Rev.: | |||
(21st Century College and Equip. Progs.) Series 2017 E, 5% 2/1/31 | 10,000 | 11,342 | |
(Virginia Gen. Oblig.) Series 2017 E, 5% 2/1/30 | 15,000 | 17,016 | |
Virginia Commonwealth Trans. Board Rev.: | |||
(Virginia Gen. Oblig. Proj.) Series 2017 A, 5% 5/15/29 | 60,000 | 67,575 | |
(Virginia Gen. Oblig.) Series 2017 A, 5% 5/15/27 | 15,000 | 16,766 | |
Virginia Commonwealth Univ. Health Sys. Auth. Series 2017 A, 5% 7/1/28 | 270,000 | 299,045 | |
TOTAL VIRGINIA | 508,197 | ||
Washington - 4.1% | |||
Energy Northwest Elec. Rev. Series 2020 A, 5% 7/1/34 | 95,000 | 111,394 | |
Washington Gen. Oblig.: | |||
Series 2018 A, 5% 8/1/27 | 50,000 | 56,104 | |
Series 2018 C, 5% 8/1/30 | 25,000 | 27,984 | |
Series 2018 D, 5% 8/1/33 | 20,000 | 22,224 | |
Series 2020 A, 5% 8/1/27 | 65,000 | 72,935 | |
Series 2020 C, 5% 2/1/37 | 15,000 | 16,999 | |
Series R-2017 A, 5% 8/1/30 | 10,000 | 10,919 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Overlake Hosp. Med. Ctr., WA. Proj.) Series 2017 B, 5% 7/1/27 | 25,000 | 27,171 | |
(Providence Health Systems Proj.) Series 2018 B, 5% 10/1/33 | 45,000 | 49,544 | |
Series 2017 A, 4% 7/1/37 | 125,000 | 126,558 | |
Series 2019 A2, 5% 8/1/33 | 10,000 | 10,984 | |
TOTAL WASHINGTON | 532,816 | ||
Wisconsin - 0.3% | |||
Wisconsin Gen. Oblig. Series 2019 A, 5% 5/1/37 | 5,000 | 5,335 | |
Wisconsin St Gen. Fund Annual Appropriation Series 2019 A: | |||
5% 5/1/25 (Escrowed to Maturity) | 10,000 | 10,589 | |
5% 5/1/26 (Escrowed to Maturity) | 20,000 | 21,747 | |
TOTAL WISCONSIN | 37,671 | ||
TOTAL MUNICIPAL BONDS (Cost $11,918,318) | 12,122,642 | ||
Municipal Notes - 4.2% | |||
Principal Amount (a) | Value ($) | ||
Delaware - 0.8% | |||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1994, 1.54% 2/1/23, VRDN (b)(c) | 100,000 | 100,000 | |
Florida - 0.4% | |||
Broward County Indl. Dev. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2018 B, 1.45% 2/1/23, VRDN (b)(c) | 50,000 | 50,000 | |
Georgia - 1.5% | |||
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2018, 1.75% 2/1/23, VRDN (b) | 200,000 | 200,000 | |
Louisiana - 1.5% | |||
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.) Series 2010 B1, 2.3% 2/7/23, VRDN (b) | 200,000 | 200,000 | |
TOTAL MUNICIPAL NOTES (Cost $550,000) | 550,000 | ||
Money Market Funds - 2.9% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 1.40% (e)(f) (Cost $386,003) | 385,923 | 385,996 | |
TOTAL INVESTMENT IN SECURITIES - 99.5% (Cost $12,854,321) | 13,058,638 |
NET OTHER ASSETS (LIABILITIES) - 0.5% | 67,909 |
NET ASSETS - 100.0% | 13,126,547 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $200,050 or 1.5% of net assets. |
(e) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Municipal Cash Central Fund 1.40% | - | 2,457,996 | 2,072,000 | 3,370 | - | - | 385,996 | 0.0% |
Total | - | 2,457,996 | 2,072,000 | 3,370 | - | - | 385,996 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 12,672,642 | - | 12,672,642 | - |
Money Market Funds | 385,996 | 385,996 | - | - |
Total Investments in Securities: | 13,058,638 | 385,996 | 12,672,642 | - |
Statement of Assets and Liabilities | ||||
January 31, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | $ | |||
Unaffiliated issuers (cost $12,468,318) | 12,672,642 | |||
Fidelity Central Funds (cost $386,003) | 385,996 | |||
Total Investment in Securities (cost $12,854,321) | $ | 13,058,638 | ||
Receivable for fund shares sold | 872 | |||
Interest receivable | 123,002 | |||
Distributions receivable from Fidelity Central Funds | 705 | |||
Prepaid expenses | 20,590 | |||
Receivable from investment adviser for expense reductions | 17,233 | |||
Other receivables | 17 | |||
Total assets | 13,221,057 | |||
Liabilities | ||||
Payable to custodian bank | $39,814 | |||
Payable for fund shares redeemed | 146 | |||
Distributions payable | 3,234 | |||
Accrued management fee | 3,763 | |||
Distribution and service plan fees payable | 1,435 | |||
Other affiliated payables | 1,316 | |||
Audit fee payable | 44,672 | |||
Other payables and accrued expenses | 130 | |||
Total Liabilities | 94,510 | |||
Net Assets | $ | 13,126,547 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 12,931,708 | ||
Total accumulated earnings (loss) | 194,839 | |||
Net Assets | $ | 13,126,547 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($1,563,434 ÷ 154,160 shares) (a) | $ | 10.14 | ||
Maximum offering price per share (100/96.00 of $10.14) | $ | 10.56 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($1,122,043 ÷ 110,637 shares) (a) | $ | 10.14 | ||
Maximum offering price per share (100/96.00 of $10.14) | $ | 10.56 | ||
Class C : | ||||
Net Asset Value and offering price per share ($1,064,872 ÷ 105,631 shares) (a) | $ | 10.08 | ||
Fidelity Sustainable Intermediate Municipal Income Fund : | ||||
Net Asset Value , offering price and redemption price per share ($7,306,507 ÷ 720,420 shares) | $ | 10.14 | ||
Class I : | ||||
Net Asset Value , offering price and redemption price per share ($1,034,596 ÷ 102,010 shares) | $ | 10.14 | ||
Class Z : | ||||
Net Asset Value , offering price and redemption price per share ($1,035,095 ÷ 102,059 shares) | $ | 10.14 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
For the period April 13, 2022 (commencement of operations) through January 31, 2023 | ||||
Investment Income | ||||
Interest | $ | 256,680 | ||
Income from Fidelity Central Funds | 3,364 | |||
Total Income | 260,044 | |||
Expenses | ||||
Management fee | $ | 31,292 | ||
Transfer agent fees | 7,205 | |||
Distribution and service plan fees | 12,331 | |||
Accounting fees and expenses | 2,327 | |||
Custodian fees and expenses | 735 | |||
Independent trustees' fees and expenses | 28 | |||
Registration fees | 103,035 | |||
Audit | 51,464 | |||
Legal | 4 | |||
Miscellaneous | 34 | |||
Total expenses before reductions | 208,455 | |||
Expense reductions | (163,741) | |||
Total expenses after reductions | 44,714 | |||
Net Investment income (loss) | 215,330 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (4,499) | |||
Capital gain distributions from Fidelity Central Funds | 6 | |||
Total net realized gain (loss) | (4,493) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 204,324 | |||
Fidelity Central Funds | (7) | |||
Total change in net unrealized appreciation (depreciation) | 204,317 | |||
Net gain (loss) | 199,824 | |||
Net increase (decrease) in net assets resulting from operations | $ | 415,154 |
Statement of Changes in Net Assets | ||
For the period April 13, 2022 (commencement of operations) through January 31, 2023 | ||
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $ | 215,330 |
Net realized gain (loss) | (4,493) | |
Change in net unrealized appreciation (depreciation) | 204,317 | |
Net increase (decrease) in net assets resulting from operations | 415,154 | |
Distributions to shareholders | (220,316) | |
Share transactions - net increase (decrease) | 12,931,709 | |
Total increase (decrease) in net assets | 13,126,547 | |
Net Assets | ||
Beginning of period | - | |
End of period | $ | 13,126,547 |
Fidelity Advisor Sustainable Intermediate Municipal Income Fund Class A |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .181 | |
Net realized and unrealized gain (loss) | .137 | |
Total from investment operations | .318 | |
Distributions from net investment income | (.178) | |
Total distributions | (.178) | |
Net asset value, end of period | $ | 10.14 |
Total Return D,E,F | 3.24% | |
Ratios to Average Net Assets C,G,H | ||
Expenses before reductions | 2.34% I,J | |
Expenses net of fee waivers, if any | .62% J | |
Expenses net of all reductions | .61% J | |
Net investment income (loss) | 2.26% J | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 1,563 |
Portfolio turnover rate K | 14% J |
Fidelity Advisor Sustainable Intermediate Municipal Income Fund Class M |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .181 | |
Net realized and unrealized gain (loss) | .137 | |
Total from investment operations | .318 | |
Distributions from net investment income | (.178) | |
Total distributions | (.178) | |
Net asset value, end of period | $ | 10.14 |
Total Return D,E,F | 3.24% | |
Ratios to Average Net Assets C,G,H | ||
Expenses before reductions | 2.36% I,J | |
Expenses net of fee waivers, if any | .62% J | |
Expenses net of all reductions | .61% J | |
Net investment income (loss) | 2.26% J | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 1,122 |
Portfolio turnover rate K | 14% J |
Fidelity Advisor Sustainable Intermediate Municipal Income Fund Class C |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .120 | |
Net realized and unrealized gain (loss) | .137 | |
Total from investment operations | .257 | |
Distributions from net investment income | (.177) | |
Total distributions | (.177) | |
Net asset value, end of period | $ | 10.08 |
Total Return D,E,F | 2.62% | |
Ratios to Average Net Assets C,G,H | ||
Expenses before reductions | 3.08% I,J | |
Expenses net of fee waivers, if any | 1.37% J | |
Expenses net of all reductions | 1.36% J | |
Net investment income (loss) | 1.51% J | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 1,065 |
Portfolio turnover rate K | 14% J |
Fidelity Sustainable Intermediate Municipal Income Fund |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .200 | |
Net realized and unrealized gain (loss) | .138 | |
Total from investment operations | .338 | |
Distributions from net investment income | (.198) | |
Total distributions | (.198) | |
Net asset value, end of period | $ | 10.14 |
Total Return D,E | 3.44% | |
Ratios to Average Net Assets C,F,G | ||
Expenses before reductions | 2.03% H,I | |
Expenses net of fee waivers, if any | .37% I | |
Expenses net of all reductions | .36% I | |
Net investment income (loss) | 2.51% I | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 7,307 |
Portfolio turnover rate J | 14% I |
Fidelity Advisor Sustainable Intermediate Municipal Income Fund Class I |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .201 | |
Net realized and unrealized gain (loss) | .137 | |
Total from investment operations | .338 | |
Distributions from net investment income | (.198) | |
Total distributions | (.198) | |
Net asset value, end of period | $ | 10.14 |
Total Return D,E | 3.44% | |
Ratios to Average Net Assets C,F,G | ||
Expenses before reductions | 2.12% H,I | |
Expenses net of fee waivers, if any | .37% I | |
Expenses net of all reductions | .36% I | |
Net investment income (loss) | 2.51% I | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 1,035 |
Portfolio turnover rate J | 14% I |
Fidelity Advisor Sustainable Intermediate Municipal Income Fund Class Z |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .205 | |
Net realized and unrealized gain (loss) | .137 | |
Total from investment operations | .342 | |
Distributions from net investment income | (.202) | |
Total distributions | (.202) | |
Net asset value, end of period | $ | 10.14 |
Total Return D,E | 3.49% | |
Ratios to Average Net Assets C,F,G | ||
Expenses before reductions | 2.04% H,I | |
Expenses net of fee waivers, if any | .31% I | |
Expenses net of all reductions | .30% I | |
Net investment income (loss) | 2.57% I | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 1,035 |
Portfolio turnover rate J | 14% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $235,435 |
Gross unrealized depreciation | (29,727) |
Net unrealized appreciation (depreciation) | $205,708 |
Tax Cost | $12,852,930 |
Capital loss carryforward | $(4,491) |
Net unrealized appreciation (depreciation) on securities and other investments | $ 205,708 |
Short-term | $(4,491) |
January 31, 2023 A | |
Tax-exempt Income | $220,316 |
Purchases ($) | Sales ($) | |
Fidelity Sustainable Intermediate Municipal Income Fund | 13,132,916 | 1,112,030 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $2,261 | $2,005 |
Class M | - % | .25% | 2,042 | 1,998 |
Class C | .75% | .25% | 8,028 | 8,024 |
$12,331 | $12,027 |
Amount | % of Class-Level Average Net Assets A | |
Class A | $1,101 | .12 |
Class M | 1,051 | .13 |
Class C | 834 | .10 |
Fidelity Sustainable Intermediate Municipal Income Fund | 2,775 | .06 |
Class I | 1,044 | .13 |
Class Z | 400 | .05 |
$7,205 |
% of Average Net Assets | |
Fidelity Sustainable Intermediate Municipal Income Fund | .03 |
Expense Limitations | Reimbursement | |
Class A | .62% | $16,718 |
Class M | .62% | 15,232 |
Class C | 1.37% | 14,742 |
Fidelity Sustainable Intermediate Municipal Income Fund | .37% | 86,535 |
Class I | .37% | 14,965 |
Class Z | .31% | 14,808 |
$163,000 |
Expense reduction | |
Fidelity Sustainable Intermediate Municipal Income Fund | $172 |
Year ended January 31, 2023 A | |
Fidelity Sustainable Intermediate Municipal Income Fund | |
Distributions to shareholders | |
Class A | $20,582 |
Class M | 18,384 |
Class C | 17,991 |
Fidelity Sustainable Intermediate Municipal Income Fund | 123,006 |
Class I | 19,937 |
Class Z | 20,416 |
Total | $220,316 |
Shares | Dollars | |
Year ended January 31, 2023 A | Year ended January 31, 2023 A | |
Fidelity Sustainable Intermediate Municipal Income Fund | ||
Class A | ||
Shares sold | 152,415 | $1,510,973 |
Reinvestment of distributions | 2,073 | 20,582 |
Shares redeemed | (328) | (3,253) |
Net increase (decrease) | 154,160 | $1,528,302 |
Class M | ||
Shares sold | 108,784 | $1,085,981 |
Reinvestment of distributions | 1,853 | 18,384 |
Net increase (decrease) | 110,637 | $1,104,365 |
Class C | ||
Shares sold | 104,646 | $1,046,011 |
Reinvestment of distributions | 1,821 | 17,991 |
Shares redeemed | (836) | (8,058) |
Net increase (decrease) | 105,631 | $1,055,944 |
Fidelity Sustainable Intermediate Municipal Income Fund | ||
Shares sold | 731,710 | $7,308,238 |
Reinvestment of distributions | 10,931 | 108,350 |
Shares redeemed | (22,221) | (213,843) |
Net increase (decrease) | 720,420 | $7,202,745 |
Class I | ||
Shares sold | 100,000 | $1,000,000 |
Reinvestment of distributions | 2,010 | 19,937 |
Net increase (decrease) | 102,010 | $1,019,937 |
Class Z | ||
Shares sold | 100,000 | $1,000,000 |
Reinvestment of distributions | 2,059 | 20,416 |
Net increase (decrease) | 102,059 | $1,020,416 |
Fund | Affiliated % |
Fidelity Sustainable Intermediate Municipal Income Fund | 79% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2022 to January 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2022 | Ending Account Value January 31, 2023 | Expenses Paid During Period- C August 1, 2022 to January 31, 2023 | |||||||
Fidelity® Sustainable Intermediate Municipal Income Fund | ||||||||||
Class A | .62% | |||||||||
Actual | $ 1,000 | $ 1,011.40 | $ 3.14 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.08 | $ 3.16 | |||||||
Class M | .62% | |||||||||
Actual | $ 1,000 | $ 1,011.40 | $ 3.14 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.08 | $ 3.16 | |||||||
Class C | 1.37% | |||||||||
Actual | $ 1,000 | $ 1,007.30 | $ 6.93 | |||||||
Hypothetical- B | $ 1,000 | $ 1,018.30 | $ 6.97 | |||||||
Fidelity® Sustainable Intermediate Municipal Income Fund | .37% | |||||||||
Actual | $ 1,000 | $ 1,012.70 | $ 1.88 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.34 | $ 1.89 | |||||||
Class I | .37% | |||||||||
Actual | $ 1,000 | $ 1,012.60 | $ 1.88 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.34 | $ 1.89 | |||||||
Class Z | .31% | |||||||||
Actual | $ 1,000 | $ 1,012.90 | $ 1.57 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.64 | $ 1.58 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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Contents
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity SAI Sustainable Municipal Income Fund, on April 13, 2022, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
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Top Five States (% of Fund's net assets) | |
Massachusetts | 13.7 |
New York | 12.9 |
Illinois | 12.6 |
California | 6.3 |
Florida | 6.0 |
Revenue Sources (% of Fund's net assets) | ||
Health Care | 25.8% | |
General Obligations | 24.2% | |
Education | 13.8% | |
Water & Sewer | 12.4% | |
Special Tax | 9.4% | |
Others* (Individually Less Than 5%) | 14.4% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
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We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 90.4% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 1.9% | |||
Black Belt Energy Gas District Bonds Series 2022 F, 5.5%, tender 12/1/28 (b) | 100,000 | 107,404 | |
Southeast Energy Auth. Rev. Bonds Bonds Series 2022 A1, 5.5%, tender 12/1/29 (b) | 100,000 | 108,863 | |
TOTAL ALABAMA | 216,267 | ||
Arizona - 3.5% | |||
Phoenix Civic Impt. Corp. Wtr. Sys. Rev. Series 2021 A, 5% 7/1/45 | 195,000 | 219,653 | |
Salt Verde Finl. Corp. Sr. Gas Rev. Series 2007 1, 5% 12/1/32 | 170,000 | 185,442 | |
TOTAL ARIZONA | 405,095 | ||
California - 6.3% | |||
California Edl. Facilities Auth. Rev. Series T1, 5% 3/15/39 | 30,000 | 36,937 | |
California Infrastructure and Econ. Dev. Bank Rev. Series 2017, 5% 5/15/47 | 25,000 | 26,812 | |
California Muni. Fin. Auth. Rev.: | |||
(Pomona College Proj.) Series 2017, 5% 1/1/33 (Pre-Refunded to 1/1/28 @ 100) | 25,000 | 28,426 | |
Series 2018: | |||
5% 10/1/25 | 15,000 | 15,569 | |
5% 10/1/35 | 5,000 | 5,237 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2016, 5% 10/1/33 | 20,000 | 21,132 | |
Los Angeles Dept. of Wtr. & Pwr. Wtrwks. Rev.: | |||
Series 2017 A, 5% 7/1/32 | 10,000 | 11,111 | |
Series 2020 A, 5% 7/1/40 | 400,000 | 453,758 | |
Series 2020 B, 4% 7/1/29 | 55,000 | 61,533 | |
San Diego Unified School District: | |||
(Convention Ctr. Proj.) Series 2012, 0% 7/1/45 | 10,000 | 3,996 | |
Series 2010 C, 0% 7/1/44 | 100,000 | 41,979 | |
Univ. of California Revs. Series 2020 BE, 5% 5/15/42 | 10,000 | 11,255 | |
TOTAL CALIFORNIA | 717,745 | ||
Colorado - 1.5% | |||
Colorado Ctfs. of Prtn. Series 2020 A, 4% 12/15/38 | 10,000 | 10,242 | |
Colorado Health Facilities Auth. Rev. Bonds: | |||
Series 2019 A1, 5% 8/1/36 | 15,000 | 16,038 | |
Series 2019 A2: | |||
5% 8/1/33 | 125,000 | 137,296 | |
5% 8/1/39 | 10,000 | 10,533 | |
TOTAL COLORADO | 174,109 | ||
Connecticut - 3.0% | |||
Connecticut Gen. Oblig.: | |||
Series 2019 A, 5% 4/15/33 | 30,000 | 34,121 | |
Series 2021 B, 4% 6/1/34 | 10,000 | 10,951 | |
Series 2021 D, 5% 7/15/28 | 75,000 | 85,462 | |
Connecticut Hsg. Fin. Auth. Series 2021 D1, 5% 11/15/28 | 25,000 | 28,077 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2021 A, 4% 5/1/36 | 130,000 | 137,327 | |
Series A, 5% 5/1/29 | 15,000 | 17,444 | |
South Central Reg'l. Wtr. Auth. Wtr. Sys. Rev. Series 32 B, 5% 8/1/32 | 25,000 | 27,119 | |
TOTAL CONNECTICUT | 340,501 | ||
District Of Columbia - 0.1% | |||
District of Columbia Univ. Rev. Series 2017, 5% 4/1/33 | 10,000 | 10,799 | |
Florida - 6.0% | |||
Broward County School Board Ctfs. of Prtn.: | |||
Series 2015 A, 5% 7/1/26 | 30,000 | 31,895 | |
Series 2020 A, 5% 7/1/33 | 30,000 | 35,134 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Series 2020 A, 5% 8/15/34 | 195,000 | 210,229 | |
JEA Wtr. & Swr. Sys. Rev. Series 2017 A, 5% 10/1/29 | 25,000 | 27,941 | |
Lakeland Hosp. Sys. Rev. Series 2016, 5% 11/15/29 | 15,000 | 16,057 | |
Miami-Dade County Wtr. & Swr. Rev. Series 2017 B, 5% 10/1/27 | 55,000 | 61,695 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. (Jupiter Med. Ctr. Proj.) Series 2022, 5% 11/1/35 | 150,000 | 161,620 | |
Palm Beach County School Board Ctfs. of Prtn. Series 2021 A, 5% 8/1/38 | 130,000 | 146,914 | |
TOTAL FLORIDA | 691,485 | ||
Georgia - 3.2% | |||
Fulton County Dev. Auth. Rev.: | |||
Series 2019 A, 3% 7/1/44 | 175,000 | 142,082 | |
Series 2019, 5% 6/15/44 | 15,000 | 16,499 | |
Main Street Natural Gas, Inc. Bonds Series 2021 A, 4%, tender 9/1/27 (b) | 100,000 | 101,922 | |
Private Colleges & Univs. Auth. Rev. Series 2019 A, 5% 9/1/39 | 100,000 | 111,809 | |
TOTAL GEORGIA | 372,312 | ||
Illinois - 7.4% | |||
Illinois Fin. Auth. Series 2022 A, 5% 10/1/35 | 150,000 | 152,802 | |
Illinois Fin. Auth. Academic Facilities (Provident Group UIUC Properties LLC Univ. of Illinois at Urbana-Champaign Proj.) Series 2019 A: | |||
5% 10/1/32 | 15,000 | 16,797 | |
5% 10/1/38 | 300,000 | 320,887 | |
Illinois Fin. Auth. Health Svcs. Facility Lease Rev. (Provident Group - UIC Surgery Ctr. LLC - Univ. of Illinois Health Svcs. Facility Proj.) Series 2020, 4% 10/1/55 | 100,000 | 83,840 | |
Illinois Fin. Auth. Rev.: | |||
(Presence Health Proj.) Series 2016 C, 5% 2/15/36 | 30,000 | 31,671 | |
Series 2015 A, 5% 10/1/35 | 5,000 | 5,294 | |
Series 2016 A, 5% 7/1/31 (Pre-Refunded to 7/1/26 @ 100) | 50,000 | 54,502 | |
Illinois Gen. Oblig.: | |||
Series 2017 C, 5% 11/1/29 | 125,000 | 133,499 | |
Series 2021 A, 5% 3/1/46 | 50,000 | 51,403 | |
TOTAL ILLINOIS | 850,695 | ||
Indiana - 0.4% | |||
Indiana Hsg. & Cmnty. Dev. Auth.: | |||
Series 2021 B, Series 2021 B, 5% 1/1/28 | 15,000 | 16,662 | |
Series A, 5% 7/1/28 | 25,000 | 28,301 | |
TOTAL INDIANA | 44,963 | ||
Kentucky - 0.4% | |||
Kentucky Bond Dev. Corp. Edl. Facilities Series 2021, 4% 6/1/35 | 20,000 | 20,400 | |
Kentucky State Property & Buildings Commission Rev. Series A, 5% 11/1/33 | 20,000 | 22,444 | |
TOTAL KENTUCKY | 42,844 | ||
Maine - 2.8% | |||
Maine Health & Higher Edl. Facilities Auth. Rev.: | |||
Series 2017 B: | |||
5% 7/1/28 | 30,000 | 32,741 | |
5% 7/1/29 | 10,000 | 10,886 | |
Series 2018 A, 5% 7/1/30 | 250,000 | 274,006 | |
TOTAL MAINE | 317,633 | ||
Maryland - 0.7% | |||
Baltimore Proj. Rev. (Wastewtr. Projs.) Series 2017 B, 5% 7/1/32 | 25,000 | 27,402 | |
Maryland Dept. of Trans.: | |||
Series 2016, 4% 9/1/27 | 10,000 | 10,786 | |
Series 2020, 5% 10/1/33 | 10,000 | 11,914 | |
Series 2021 A, 2% 10/1/34 | 10,000 | 8,675 | |
Montgomery County Gen. Oblig. Ctfs. of Prtn. Series 2020 A, 5% 10/1/27 | 15,000 | 16,932 | |
TOTAL MARYLAND | 75,709 | ||
Massachusetts - 13.7% | |||
Massachusetts Bay Trans. Auth. Sales Tax Rev. Series 2021 A1, 5% 7/1/35 | 45,000 | 52,956 | |
Massachusetts Commonwealth Trans. Fund Rev. (Rail Enhancement & Accelerated Bridge Programs) Series 2019 A, 5% 6/1/49 | 215,000 | 233,628 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
(Partners Healthcare Sys., Inc. Proj.) Series 2017 S, 5% 7/1/32 | 15,000 | 16,576 | |
Bonds Series A1, 5%, tender 1/31/30 (b) | 20,000 | 22,888 | |
Series 2015 O1, 4% 7/1/45 | 50,000 | 49,351 | |
Series 2018 L, 5% 10/1/33 | 35,000 | 37,703 | |
Series 2020 A: | |||
5% 10/15/29 | 30,000 | 35,487 | |
5% 10/15/30 | 25,000 | 30,185 | |
Series 2021 G, 4% 7/1/46 | 75,000 | 68,104 | |
Massachusetts Gen. Oblig.: | |||
Series 2017 A, 5% 4/1/36 | 15,000 | 16,332 | |
Series 2017 D, 5% 7/1/27 | 25,000 | 28,052 | |
Series 2020 D, 5% 7/1/48 | 10,000 | 10,980 | |
Series D, 5% 7/1/45 | 340,000 | 376,109 | |
Series E, 5% 11/1/45 | 375,000 | 416,387 | |
Massachusetts School Bldg. Auth. Dedicated Sales Tax Rev. Series A: | |||
5% 8/15/34 | 5,000 | 5,847 | |
5% 8/15/45 | 100,000 | 110,916 | |
Univ. of Massachusetts Bldg. Auth. Rev. Series 2021 1, 5% 11/1/32 | 50,000 | 59,320 | |
TOTAL MASSACHUSETTS | 1,570,821 | ||
Michigan - 5.6% | |||
Grand Rapids San. Swr. Sys. Rev.: | |||
Series 2018, 5% 1/1/35 | 15,000 | 16,535 | |
Series 2018, 5% 1/1/29 | 30,000 | 33,848 | |
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev. Series 2020 B, 5% 7/1/45 | 430,000 | 465,686 | |
Michigan Fin. Auth. Rev.: | |||
Series 2016: | |||
5% 11/15/26 | 20,000 | 21,676 | |
5% 11/15/30 | 30,000 | 32,284 | |
5% 11/15/34 | 15,000 | 15,948 | |
Series 2022, 5% 12/1/32 | 25,000 | 27,331 | |
Michigan Hosp. Fin. Auth. Rev. Series 2010 F4, 5% 11/15/47 | 10,000 | 10,449 | |
Univ. of Michigan Rev. Series 2020 A, 5% 4/1/39 | 15,000 | 17,026 | |
TOTAL MICHIGAN | 640,783 | ||
Minnesota - 0.2% | |||
Minnesota Gen. Oblig. Series 2019 A, 5% 8/1/30 | 10,000 | 11,712 | |
Minnesota Hsg. Fin. Agcy. Series B, 4% 8/1/36 | 15,000 | 15,664 | |
TOTAL MINNESOTA | 27,376 | ||
Nebraska - 1.7% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 50,000 | 50,637 | |
Douglas County Hosp. Auth. #2 Health Facilities Rev. Series 2020 A, 5% 11/15/30 | 125,000 | 144,370 | |
TOTAL NEBRASKA | 195,007 | ||
New Jersey - 4.0% | |||
New Jersey Trans. Trust Fund Auth.: | |||
Series 2018 A, 5% 12/15/32 | 100,000 | 111,137 | |
Series 2021 A, 5% 6/15/33 | 95,000 | 108,757 | |
Series 2022 A, 4% 6/15/39 | 50,000 | 50,122 | |
Series 2022 BB, 5% 6/15/31 | 130,000 | 151,076 | |
Series A, 0% 12/15/31 | 50,000 | 36,810 | |
TOTAL NEW JERSEY | 457,902 | ||
New York - 12.9% | |||
Dorm. Auth. New York Univ. Rev. Series 2018 A, 5% 7/1/36 | 10,000 | 11,092 | |
Dutchess County Local Dev. Corp. Rev. (Vassar College Proj.) Series 2020, 5% 7/1/45 | 60,000 | 65,020 | |
Long Island Pwr. Auth. Elec. Sys. Rev. Series 2020 A: | |||
5% 9/1/35 | 10,000 | 11,492 | |
5% 9/1/38 | 170,000 | 190,736 | |
New York Dorm. Auth. Rev.: | |||
Series 2015 A, 3.75% 7/1/46 | 10,000 | 8,970 | |
Series 2022 A, 5% 7/1/34 | 200,000 | 222,458 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2017 C1: | |||
5% 11/15/27 | 20,000 | 21,533 | |
5% 11/15/29 | 50,000 | 53,079 | |
5% 11/15/31 | 135,000 | 142,982 | |
Series 2019 C, 5% 11/15/39 | 70,000 | 73,274 | |
New York State Dorm. Auth.: | |||
Series 2017 A, 5% 2/15/31 | 15,000 | 16,574 | |
Series 2021 E, 3% 3/15/50 | 100,000 | 78,859 | |
New York State Urban Dev. Corp. Series 2020 E, 4% 3/15/35 | 30,000 | 31,261 | |
New York State Urban Eev Corp. Series 2019 A, 5% 3/15/37 | 85,000 | 95,510 | |
New York Thruway Auth. Personal Income Tax Rev. Series 2021 A1, 5% 3/15/34 | 210,000 | 248,504 | |
Saratoga County Cap. Resources Rev. (Skidmore College Proj.) Series 2020 A, 5% 7/1/45 | 90,000 | 98,140 | |
Suffolk County Gen. Oblig. Series 2017 D, 4% 2/1/28 (Build America Mutual Assurance Insured) | 100,000 | 108,034 | |
TOTAL NEW YORK | 1,477,518 | ||
North Carolina - 1.3% | |||
Charlotte-Mecklenburg Hosp. Auth. Health Care Sys. Rev. Bonds Series 2021 C, 5%, tender 12/1/28 (b) | 25,000 | 28,344 | |
Univ. of North Carolina at Chapel Hill Rev. Series 2021 B, 5% 12/1/38 | 100,000 | 117,476 | |
TOTAL NORTH CAROLINA | 145,820 | ||
Ohio - 0.7% | |||
Allen County Hosp. Facilities Rev. (Mercy Health) Series 2017 A, 5% 8/1/29 | 10,000 | 11,168 | |
Ohio Gen. Oblig. Series 2019 A, 5% 5/1/30 | 20,000 | 22,248 | |
Ohio Higher Edl. Facility Commission Rev. (Univ. of Dayton Proj.) Series 2018 B, 5% 12/1/29 | 25,000 | 27,606 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. (Mtg.-Backed Securities Prog.) Series 2022 A, 5% 3/1/30 | 15,000 | 17,199 | |
TOTAL OHIO | 78,221 | ||
Oklahoma - 0.1% | |||
Oklahoma State Univ. Agricultural And Mechanical College Series 2020 A, 5% 9/1/32 | 15,000 | 17,666 | |
Oregon - 2.8% | |||
Medford Hosp. Facilities Auth. Rev. (Asante Projs.) Series 2020 A, 5% 8/15/38 | 15,000 | 16,369 | |
Oregon Facilities Auth. Rev. Series 2022 B, 5% 6/1/30 | 30,000 | 34,279 | |
Salem Hosp. Facility Auth. Rev. (Salem Health Projs.) Series 2019 A, 3% 5/15/49 | 350,000 | 268,199 | |
TOTAL OREGON | 318,847 | ||
Pennsylvania - 0.8% | |||
Dubois Hosp. Auth. Hosp. Rev. (Penn Highlands Healthcare Proj.) Series 2018: | |||
5% 7/15/27 | 45,000 | 48,551 | |
5% 7/15/28 | 30,000 | 32,619 | |
Montgomery County Higher Ed. & Health Auth. Rev. Series 2019, 5% 9/1/31 | 10,000 | 11,138 | |
TOTAL PENNSYLVANIA | 92,308 | ||
Tennessee - 0.2% | |||
Knox County Health Edl. & Hsg. Facilities Board Rev. Series 2017, 5% 4/1/27 | 25,000 | 26,738 | |
Texas - 1.3% | |||
Alvin Independent School District Series 2016 A, 5% 2/15/28 | 20,000 | 21,555 | |
Cypress-Fairbanks Independent School District Series 2016, 5% 2/15/25 | 15,000 | 15,804 | |
San Antonio Wtr. Sys. Rev.: | |||
Series 2018 A, 5% 5/15/33 | 15,000 | 16,891 | |
Series 2020 A, 5% 5/15/27 | 10,000 | 11,121 | |
Univ. of Houston Univ. Revs. Series 2021 A, 2% 2/15/33 | 35,000 | 31,360 | |
Wichita Falls Independent School District Series 2021, 4% 2/1/28 | 50,000 | 53,787 | |
TOTAL TEXAS | 150,518 | ||
Virginia - 2.3% | |||
Virginia College Bldg. Auth. Edl. Facilities Rev. (21st Century College and Equip. Progs.) Series 2017 E, 5% 2/1/31 | 10,000 | 11,342 | |
Virginia Commonwealth Trans. Board Rev.: | |||
(Virginia Gen. Oblig. Proj.) Series 2017 A, 5% 5/15/29 | 60,000 | 67,575 | |
(Virginia Gen. Oblig.) Series 2017 A, 5% 5/15/27 | 20,000 | 22,355 | |
Virginia Commonwealth Univ. Health Sys. Auth. Series 2017 A, 5% 7/1/28 | 5,000 | 5,538 | |
Virginia Pub. Bldg. Auth. Pub. Facilities Rev. Series 2019 A, 4% 8/1/36 | 150,000 | 158,901 | |
TOTAL VIRGINIA | 265,711 | ||
Washington - 5.5% | |||
Energy Northwest Elec. Rev. Series 2020 A, 5% 7/1/34 | 100,000 | 117,257 | |
Washington Gen. Oblig.: | |||
Series 2018 A, 5% 8/1/27 | 50,000 | 56,104 | |
Series 2018 C, 5% 8/1/30 | 30,000 | 33,580 | |
Series 2020 A, 5% 8/1/27 | 60,000 | 67,324 | |
Series 2020 C, 5% 2/1/37 | 10,000 | 11,333 | |
Series 2021 A, 5% 8/1/43 | 85,000 | 94,567 | |
Series 2022 A, 5% 8/1/42 | 40,000 | 45,116 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Overlake Hosp. Med. Ctr., WA. Proj.) Series 2017 B, 5% 7/1/27 | 25,000 | 27,171 | |
(Providence Health Systems Proj.) Series 2018 B, 5% 10/1/33 | 40,000 | 44,039 | |
Series 2017 A, 4% 7/1/37 | 130,000 | 131,620 | |
TOTAL WASHINGTON | 628,111 | ||
Wisconsin - 0.1% | |||
Wisconsin St Gen. Fund Annual Appropriation Series 2019 A, 5% 5/1/26 (Escrowed to Maturity) | 15,000 | 16,310 | |
TOTAL MUNICIPAL BONDS (Cost $10,216,587) | 10,369,814 | ||
Municipal Notes - 7.0% | |||
Principal Amount (a) | Value ($) | ||
Illinois - 5.2% | |||
Illinois Fin. Auth. Rev.: | |||
(The Univ. of Chicago Med. Ctr. Proj.): | |||
Series 2009 D2, 1.3% 2/1/23, LOC PNC Bank NA, VRDN (b) | 400,000 | 400,000 | |
Series 2010 A, 1.31% 2/1/23, LOC Bank of America NA, VRDN (b) | 100,000 | 100,000 | |
Series 2011 A, 1.31% 2/1/23, LOC Bank of America NA, VRDN (b) | 100,000 | 100,000 | |
TOTAL ILLINOIS | 600,000 | ||
Texas - 1.8% | |||
Harris County Health Facilities Dev. Corp. Rev. (Methodist Hosp. Proj.) Series A1, 1.25% 2/1/23, VRDN (b) | 200,000 | 200,000 | |
TOTAL MUNICIPAL NOTES (Cost $800,000) | 800,000 | ||
Money Market Funds - 2.0% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 1.40% (c)(d) (Cost $232,000) | 231,954 | 232,000 | |
TOTAL INVESTMENT IN SECURITIES - 99.4% (Cost $11,248,587) | 11,401,814 |
NET OTHER ASSETS (LIABILITIES) - 0.6% | 64,265 |
NET ASSETS - 100.0% | 11,466,079 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Municipal Cash Central Fund 1.40% | - | 2,132,000 | 1,900,000 | 3,422 | - | - | 232,000 | 0.0% |
Total | - | 2,132,000 | 1,900,000 | 3,422 | - | - | 232,000 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 11,169,814 | - | 11,169,814 | - |
Money Market Funds | 232,000 | 232,000 | - | - |
Total Investments in Securities: | 11,401,814 | 232,000 | 11,169,814 | - |
Statement of Assets and Liabilities | ||||
January 31, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $11,016,587) | $ | 11,169,814 | ||
Fidelity Central Funds (cost $232,000) | 232,000 | |||
Total Investment in Securities (cost $11,248,587) | $ | 11,401,814 | ||
Interest receivable | 109,600 | |||
Distributions receivable from Fidelity Central Funds | 120 | |||
Prepaid expenses | 4,729 | |||
Receivable from investment adviser for expense reductions | 7,412 | |||
Other receivables | 26 | |||
Total assets | 11,523,701 | |||
Liabilities | ||||
Payable to custodian bank | $ | 8,363 | ||
Distributions payable | 2,006 | |||
Accrued management fee | 3,216 | |||
Audit fee payable | 43,964 | |||
Other payables and accrued expenses | 73 | |||
Total Liabilities | 57,622 | |||
Net Assets | $ | 11,466,079 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 11,312,447 | ||
Total accumulated earnings (loss) | 153,632 | |||
Net Assets | $ | 11,466,079 | ||
Net Asset Value , offering price and redemption price per share ($11,466,079 ÷ 1,132,306 shares) | $ | 10.13 |
Statement of Operations | ||||
For the period April 13, 2022 (commencement of operations) through January 31, 2023 | ||||
Investment Income | ||||
Interest | $ | 248,848 | ||
Income from Fidelity Central Funds | 3,420 | |||
Total Income | 252,268 | |||
Expenses | ||||
Management fee | $ | 28,164 | ||
Custodian fees and expenses | 523 | |||
Independent trustees' fees and expenses | 25 | |||
Registration fees | 26,448 | |||
Audit | 50,699 | |||
Legal | 4 | |||
Miscellaneous | 33 | |||
Total expenses before reductions | 105,896 | |||
Expense reductions | (77,169) | |||
Total expenses after reductions | 28,727 | |||
Net Investment income (loss) | 223,541 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 137 | |||
Capital gain distributions from Fidelity Central Funds | 2 | |||
Total net realized gain (loss) | 139 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 153,227 | |||
Net gain (loss) | 153,366 | |||
Net increase (decrease) in net assets resulting from operations | $ | 376,907 |
Statement of Changes in Net Assets | ||
For the period April 13, 2022 (commencement of operations) through January 31, 2023 | ||
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $ | 223,541 |
Net realized gain (loss) | 139 | |
Change in net unrealized appreciation (depreciation) | 153,227 | |
Net increase (decrease) in net assets resulting from operations | 376,907 | |
Distributions to shareholders | (223,275) | |
Share transactions | ||
Proceeds from sales of shares | 11,106,399 | |
Reinvestment of distributions | 219,718 | |
Cost of shares redeemed | (13,670) | |
Net increase (decrease) in net assets resulting from share transactions | 11,312,447 | |
Total increase (decrease) in net assets | 11,466,079 | |
Net Assets | ||
Beginning of period | - | |
End of period | $ | 11,466,079 |
Other Information | ||
Shares | ||
Sold | 1,111,389 | |
Issued in reinvestment of distributions | 22,288 | |
Redeemed | (1,371) | |
Net increase (decrease) | 1,132,306 | |
Fidelity SAI Sustainable Municipal Income Fund |
Years ended January 31, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .218 | |
Net realized and unrealized gain (loss) | .130 | |
Total from investment operations | .348 | |
Distributions from net investment income | (.218) | |
Total distributions | (.218) | |
Net asset value, end of period | $ | 10.13 |
Total Return D,E | 3.56% | |
Ratios to Average Net Assets C,F,G | ||
Expenses before reductions | 1.18% H,I | |
Expenses net of fee waivers, if any | .36% I | |
Expenses net of all reductions | .35% I | |
Net investment income (loss) | 2.74% I | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 11,466 |
Portfolio turnover rate J | -% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $193,745 |
Gross unrealized depreciation | (39,785) |
Net unrealized appreciation (depreciation) | $153,960 |
Tax Cost | $11,247,854 |
Undistributed long-term capital gain | $2 |
Net unrealized appreciation (depreciation) on securities and other investments | $153,960 |
January 31, 2023 A | |
Tax-exempt Income | $223,275 |
Total | $223,275 |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable Municipal Income Fund | 10,314,228 | 21,988 |
Fund | Affiliated % |
Fidelity SAI Sustainable Municipal Income Fund | 90% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2022 to January 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2022 | Ending Account Value January 31, 2023 | Expenses Paid During Period- C August 1, 2022 to January 31, 2023 | |||||||
Fidelity® SAI Sustainable Municipal Income Fund | .36% | |||||||||
Actual | $ 1,000 | $ 1,011.00 | $ 1.82 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.39 | $ 1.84 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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![](https://capedge.com/proxy/N-CSR/0000035315-23-000161/img88780_1.jpg)
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Contents
Average Annual Total Returns | |||
Periods ended January 31, 2023 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity® Series Large Cap Value Index Fund | -0.40% | 6.99% | 8.92% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Series Large Cap Value Index Fund, on November 07, 2013, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell 1000® Value Index performed over the same period. |
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Top Holdings (% of Fund's net assets) | ||
Berkshire Hathaway, Inc. Class B | 2.9 | |
Exxon Mobil Corp. | 2.5 | |
Johnson & Johnson | 2.2 | |
JPMorgan Chase & Co. | 2.1 | |
Chevron Corp. | 1.7 | |
Meta Platforms, Inc. Class A | 1.4 | |
Pfizer, Inc. | 1.3 | |
Bank of America Corp. | 1.3 | |
Walmart, Inc. | 1.1 | |
Cisco Systems, Inc. | 1.0 | |
17.5 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 20.4 | |
Health Care | 16.3 | |
Industrials | 10.3 | |
Information Technology | 8.6 | |
Energy | 8.2 | |
Communication Services | 7.9 | |
Consumer Staples | 6.9 | |
Consumer Discretionary | 6.3 | |
Utilities | 5.4 | |
Real Estate | 4.7 | |
Materials | 4.5 | |
Asset Allocation (% of Fund's net assets) |
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Foreign investments - 4.3% |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Common Stocks - 99.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 7.9% | |||
Diversified Telecommunication Services - 1.7% | |||
AT&T, Inc. | 2,090,453 | 42,582,528 | |
Frontier Communications Parent, Inc. (a)(b) | 71,418 | 2,114,687 | |
Lumen Technologies, Inc. (b) | 299,618 | 1,572,995 | |
Verizon Communications, Inc. | 1,227,180 | 51,013,873 | |
97,284,083 | |||
Entertainment - 2.1% | |||
Activision Blizzard, Inc. | 226,737 | 17,361,252 | |
AMC Entertainment Holdings, Inc. Class A (a)(b) | 150,708 | 806,288 | |
Electronic Arts, Inc. | 75,831 | 9,757,933 | |
Liberty Media Corp. Liberty Formula One: | |||
Class A (a) | 5,478 | 348,839 | |
Series C (a) | 51,938 | 3,677,210 | |
Live Nation Entertainment, Inc. (a) | 22,740 | 1,830,343 | |
Madison Square Garden Sports Corp. | 2,753 | 500,606 | |
Netflix, Inc. (a) | 70,170 | 24,830,356 | |
Playtika Holding Corp. (a) | 2,068 | 21,693 | |
Roku, Inc. Class A (a) | 25,460 | 1,463,950 | |
Take-Two Interactive Software, Inc. (a) | 8,193 | 927,693 | |
The Walt Disney Co. (a) | 496,353 | 53,849,337 | |
Warner Bros Discovery, Inc. (a) | 183,048 | 2,712,771 | |
118,088,271 | |||
Interactive Media & Services - 2.2% | |||
Alphabet, Inc.: | |||
Class A (a) | 228,298 | 22,564,974 | |
Class C (a) | 202,502 | 20,223,875 | |
IAC, Inc. (a) | 22,407 | 1,265,996 | |
Match Group, Inc. (a) | 5,127 | 277,473 | |
Meta Platforms, Inc. Class A (a) | 516,583 | 76,955,370 | |
Pinterest, Inc. Class A (a) | 134,008 | 3,523,070 | |
TripAdvisor, Inc. (a)(b) | 27,366 | 637,628 | |
125,448,386 | |||
Media - 1.4% | |||
Altice U.S.A., Inc. Class A (a) | 61,004 | 298,920 | |
Cable One, Inc. (b) | 649 | 512,632 | |
Comcast Corp. Class A | 1,252,541 | 49,287,488 | |
DISH Network Corp. Class A (a) | 73,069 | 1,051,463 | |
Fox Corp.: | |||
Class A | 86,727 | 2,943,514 | |
Class B | 41,472 | 1,314,662 | |
Interpublic Group of Companies, Inc. | 113,173 | 4,126,288 | |
Liberty Broadband Corp.: | |||
Class A (a) | 2,735 | 245,111 | |
Class C (a)(b) | 18,587 | 1,668,741 | |
Liberty Media Corp. Liberty SiriusXM: | |||
Series A (a)(b) | 15,926 | 646,914 | |
Series C (a) | 32,464 | 1,308,299 | |
News Corp.: | |||
Class A | 110,682 | 2,242,417 | |
Class B | 34,605 | 707,326 | |
Nexstar Broadcasting Group, Inc. Class A (b) | 9,608 | 1,967,430 | |
Omnicom Group, Inc. | 59,346 | 5,103,163 | |
Paramount Global: | |||
Class A (b) | 3,437 | 91,596 | |
Class B (b) | 167,324 | 3,875,224 | |
Sirius XM Holdings, Inc. (b) | 204,657 | 1,184,964 | |
The New York Times Co. Class A | 47,359 | 1,649,988 | |
80,226,140 | |||
Wireless Telecommunication Services - 0.5% | |||
T-Mobile U.S., Inc. (a) | 173,938 | 25,970,683 | |
TOTAL COMMUNICATION SERVICES | 447,017,563 | ||
CONSUMER DISCRETIONARY - 6.3% | |||
Auto Components - 0.3% | |||
Aptiv PLC (a) | 59,069 | 6,680,113 | |
BorgWarner, Inc. | 68,067 | 3,218,208 | |
Gentex Corp. (b) | 68,521 | 2,022,055 | |
Lear Corp. | 17,159 | 2,501,439 | |
QuantumScape Corp. Class A (a)(b) | 75,159 | 639,603 | |
15,061,418 | |||
Automobiles - 0.7% | |||
Ford Motor Co. | 1,150,540 | 15,543,795 | |
General Motors Co. | 413,603 | 16,262,870 | |
Harley-Davidson, Inc. (b) | 39,229 | 1,805,711 | |
Lucid Group, Inc. Class A (a)(b) | 9,497 | 111,020 | |
Rivian Automotive, Inc. (a) | 151,555 | 2,940,167 | |
Thor Industries, Inc. (b) | 15,054 | 1,435,098 | |
38,098,661 | |||
Distributors - 0.2% | |||
Genuine Parts Co. | 37,216 | 6,245,589 | |
LKQ Corp. | 72,906 | 4,298,538 | |
10,544,127 | |||
Diversified Consumer Services - 0.1% | |||
ADT, Inc. | 60,934 | 535,610 | |
Bright Horizons Family Solutions, Inc. (a)(b) | 12,039 | 924,354 | |
Grand Canyon Education, Inc. (a) | 8,938 | 1,041,813 | |
H&R Block, Inc. | 7,897 | 307,825 | |
Mister Car Wash, Inc. (a)(b) | 6,381 | 65,533 | |
Service Corp. International | 43,619 | 3,234,349 | |
6,109,484 | |||
Hotels, Restaurants & Leisure - 2.0% | |||
ARAMARK Holdings Corp. | 67,610 | 3,010,673 | |
Boyd Gaming Corp. | 22,266 | 1,387,394 | |
Caesars Entertainment, Inc. (a) | 18,785 | 977,947 | |
Carnival Corp. (a)(b) | 284,509 | 3,078,387 | |
Darden Restaurants, Inc. | 9,641 | 1,426,579 | |
Domino's Pizza, Inc. | 2,767 | 976,751 | |
Hilton Worldwide Holdings, Inc. | 21,526 | 3,123,207 | |
Hyatt Hotels Corp. Class A (a) | 13,805 | 1,506,402 | |
Las Vegas Sands Corp. (a) | 60,492 | 3,569,028 | |
Marriott Vacations Worldwide Corp. (b) | 10,904 | 1,745,076 | |
McDonald's Corp. | 163,342 | 43,677,651 | |
MGM Resorts International | 93,551 | 3,873,947 | |
Norwegian Cruise Line Holdings Ltd. (a)(b) | 112,928 | 1,717,635 | |
Penn Entertainment, Inc. (a) | 45,046 | 1,596,881 | |
Planet Fitness, Inc. (a) | 6,400 | 541,760 | |
Royal Caribbean Cruises Ltd. (a)(b) | 64,243 | 4,171,940 | |
Six Flags Entertainment Corp. (a) | 10,834 | 290,893 | |
Starbucks Corp. | 214,275 | 23,385,974 | |
Travel+Leisure Co. (b) | 6,570 | 278,371 | |
Vail Resorts, Inc. | 627 | 164,487 | |
Wyndham Hotels & Resorts, Inc. | 7,746 | 600,392 | |
Wynn Resorts Ltd. (a) | 26,566 | 2,753,300 | |
Yum! Brands, Inc. | 72,804 | 9,501,650 | |
113,356,325 | |||
Household Durables - 0.5% | |||
D.R. Horton, Inc. | 43,809 | 4,323,510 | |
Garmin Ltd. | 44,965 | 4,446,139 | |
Leggett & Platt, Inc. (b) | 38,798 | 1,418,455 | |
Lennar Corp.: | |||
Class A | 72,949 | 7,469,978 | |
Class B | 4,556 | 393,456 | |
Mohawk Industries, Inc. (a) | 15,337 | 1,841,360 | |
Newell Brands, Inc. | 110,086 | 1,756,973 | |
NVR, Inc. (a) | 238 | 1,254,260 | |
PulteGroup, Inc. | 40,260 | 2,290,391 | |
Tempur Sealy International, Inc. | 49,002 | 1,996,832 | |
Toll Brothers, Inc. | 14,924 | 887,829 | |
TopBuild Corp. (a)(b) | 1,450 | 290,087 | |
Whirlpool Corp. | 15,552 | 2,419,736 | |
30,789,006 | |||
Internet & Direct Marketing Retail - 0.2% | |||
Doordash, Inc. (a)(b) | 8,381 | 485,428 | |
eBay, Inc. | 137,797 | 6,820,952 | |
Lyft, Inc. (a) | 18,607 | 302,364 | |
Uber Technologies, Inc. (a) | 75,069 | 2,321,884 | |
Wayfair LLC Class A (a)(b) | 8,393 | 507,777 | |
10,438,405 | |||
Leisure Products - 0.1% | |||
Brunswick Corp. (b) | 17,402 | 1,467,511 | |
Hasbro, Inc. | 38,316 | 2,267,158 | |
Mattel, Inc. (a) | 53,099 | 1,086,406 | |
Peloton Interactive, Inc. Class A (a)(b) | 89,867 | 1,161,980 | |
Polaris, Inc. (b) | 4,157 | 477,390 | |
6,460,445 | |||
Multiline Retail - 0.4% | |||
Dollar Tree, Inc. (a) | 42,768 | 6,422,898 | |
Kohl's Corp. | 33,847 | 1,095,627 | |
Macy's, Inc. (b) | 78,589 | 1,857,058 | |
Nordstrom, Inc. (b) | 4,767 | 93,147 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 17,268 | 945,596 | |
Target Corp. | 60,710 | 10,450,619 | |
20,864,945 | |||
Specialty Retail - 1.5% | |||
Advance Auto Parts, Inc. | 16,141 | 2,457,951 | |
AutoNation, Inc. (a)(b) | 9,831 | 1,245,784 | |
AutoZone, Inc. (a) | 508 | 1,238,936 | |
Bath & Body Works, Inc. | 66,725 | 3,070,017 | |
Best Buy Co., Inc. | 40,277 | 3,573,375 | |
Burlington Stores, Inc. (a) | 1,209 | 277,864 | |
CarMax, Inc. (a)(b) | 40,704 | 2,867,597 | |
Dick's Sporting Goods, Inc. | 15,503 | 2,027,172 | |
GameStop Corp. Class A (b) | 78,287 | 1,712,137 | |
Gap, Inc. (b) | 56,720 | 769,690 | |
Leslie's, Inc. (a)(b) | 5,124 | 79,371 | |
Lithia Motors, Inc. Class A (sub. vtg.) (b) | 7,907 | 2,081,122 | |
Lowe's Companies, Inc. | 24,840 | 5,172,930 | |
O'Reilly Automotive, Inc. (a) | 10,709 | 8,485,276 | |
Penske Automotive Group, Inc. (b) | 7,521 | 961,334 | |
Petco Health & Wellness Co., Inc. (a)(b) | 23,495 | 274,657 | |
RH (a) | 3,470 | 1,082,605 | |
Ross Stores, Inc. | 57,288 | 6,770,869 | |
The Home Depot, Inc. | 126,709 | 41,075,257 | |
Victoria's Secret & Co. (a) | 6,739 | 284,049 | |
Williams-Sonoma, Inc. (b) | 4,038 | 544,888 | |
86,052,881 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Capri Holdings Ltd. (a) | 36,620 | 2,434,864 | |
Carter's, Inc. (b) | 10,876 | 906,732 | |
Columbia Sportswear Co. | 10,502 | 1,007,142 | |
Deckers Outdoor Corp. (a) | 898 | 383,877 | |
Hanesbrands, Inc. (b) | 101,623 | 857,698 | |
PVH Corp. | 18,918 | 1,700,728 | |
Ralph Lauren Corp. (b) | 11,822 | 1,464,155 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 33,122 | 1,594,824 | |
Tapestry, Inc. | 61,082 | 2,783,507 | |
Under Armour, Inc.: | |||
Class A (sub. vtg.) (a)(b) | 53,945 | 668,379 | |
Class C (non-vtg.) (a)(b) | 58,767 | 640,560 | |
VF Corp. | 101,959 | 3,154,611 | |
17,597,077 | |||
TOTAL CONSUMER DISCRETIONARY | 355,372,774 | ||
CONSUMER STAPLES - 6.9% | |||
Beverages - 0.9% | |||
Boston Beer Co., Inc. Class A (a) | 144 | 55,960 | |
Brown-Forman Corp.: | |||
Class A (b) | 6,007 | 399,466 | |
Class B (non-vtg.) | 21,534 | 1,433,734 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 44,207 | 10,234,805 | |
Keurig Dr. Pepper, Inc. | 250,183 | 8,826,456 | |
Molson Coors Beverage Co. Class B | 51,050 | 2,684,209 | |
Monster Beverage Corp. (a) | 8,010 | 833,681 | |
PepsiCo, Inc. | 62,563 | 10,699,524 | |
The Coca-Cola Co. | 285,004 | 17,476,445 | |
52,644,280 | |||
Food & Staples Retailing - 1.5% | |||
Albertsons Companies, Inc. | 49,080 | 1,040,496 | |
BJ's Wholesale Club Holdings, Inc. (a) | 14,418 | 1,044,872 | |
Casey's General Stores, Inc. | 10,809 | 2,549,951 | |
Grocery Outlet Holding Corp. (a) | 23,816 | 723,768 | |
Kroger Co. | 191,290 | 8,537,273 | |
Performance Food Group Co. (a) | 30,644 | 1,879,090 | |
U.S. Foods Holding Corp. (a)(b) | 58,850 | 2,243,951 | |
Walgreens Boots Alliance, Inc. | 209,304 | 7,714,945 | |
Walmart, Inc. | 415,013 | 59,707,920 | |
85,442,266 | |||
Food Products - 1.9% | |||
Archer Daniels Midland Co. | 159,562 | 13,219,712 | |
Bunge Ltd. | 40,345 | 3,998,190 | |
Campbell Soup Co. | 56,536 | 2,935,914 | |
Conagra Brands, Inc. | 137,294 | 5,105,964 | |
Darling Ingredients, Inc. (a) | 43,441 | 2,879,704 | |
Flowers Foods, Inc. | 54,652 | 1,513,314 | |
Freshpet, Inc. (a)(b) | 5,844 | 370,101 | |
General Mills, Inc. | 173,886 | 13,625,707 | |
Hormel Foods Corp. | 83,616 | 3,788,641 | |
Ingredion, Inc. | 19,113 | 1,964,816 | |
Kellogg Co. | 33,612 | 2,305,111 | |
McCormick & Co., Inc. (non-vtg.) | 73,118 | 5,492,624 | |
Mondelez International, Inc. | 398,068 | 26,049,570 | |
Pilgrim's Pride Corp. (a) | 6,548 | 158,985 | |
Post Holdings, Inc. (a) | 15,950 | 1,514,453 | |
Seaboard Corp. | 74 | 290,117 | |
The Hershey Co. | 5,662 | 1,271,685 | |
The J.M. Smucker Co. | 30,065 | 4,593,932 | |
The Kraft Heinz Co. | 203,898 | 8,263,986 | |
Tyson Foods, Inc. Class A | 83,095 | 5,463,496 | |
104,806,022 | |||
Household Products - 1.3% | |||
Church & Dwight Co., Inc. | 38,738 | 3,132,355 | |
Colgate-Palmolive Co. | 93,055 | 6,935,389 | |
Kimberly-Clark Corp. | 39,970 | 5,196,500 | |
Procter & Gamble Co. | 395,612 | 56,327,237 | |
Reynolds Consumer Products, Inc. (b) | 15,828 | 471,200 | |
Spectrum Brands Holdings, Inc. | 11,618 | 788,630 | |
The Clorox Co. (b) | 6,145 | 889,120 | |
73,740,431 | |||
Personal Products - 0.0% | |||
Coty, Inc. Class A (a) | 102,466 | 1,020,561 | |
Tobacco - 1.3% | |||
Altria Group, Inc. | 523,434 | 23,575,467 | |
Philip Morris International, Inc. | 452,435 | 47,161,824 | |
70,737,291 | |||
TOTAL CONSUMER STAPLES | 388,390,851 | ||
ENERGY - 8.2% | |||
Energy Equipment & Services - 0.7% | |||
Baker Hughes Co. Class A | 274,726 | 8,719,803 | |
Halliburton Co. | 143,367 | 5,909,588 | |
NOV, Inc. | 114,139 | 2,789,557 | |
Schlumberger Ltd. | 412,359 | 23,496,216 | |
40,915,164 | |||
Oil, Gas & Consumable Fuels - 7.5% | |||
Antero Midstream GP LP (b) | 98,034 | 1,068,571 | |
Antero Resources Corp. (a)(b) | 28,862 | 832,380 | |
APA Corp. | 93,437 | 4,142,062 | |
Cheniere Energy, Inc. | 30,858 | 4,714,794 | |
Chesapeake Energy Corp. | 35,319 | 3,062,864 | |
Chevron Corp. | 564,692 | 98,267,702 | |
ConocoPhillips Co. | 363,928 | 44,351,905 | |
Coterra Energy, Inc. | 191,597 | 4,795,673 | |
Devon Energy Corp. | 96,962 | 6,131,877 | |
Diamondback Energy, Inc. | 21,972 | 3,210,549 | |
DT Midstream, Inc. | 28,258 | 1,544,582 | |
EOG Resources, Inc. | 45,927 | 6,073,846 | |
EQT Corp. | 107,482 | 3,511,437 | |
Exxon Mobil Corp. | 1,203,237 | 139,587,524 | |
Hess Corp. | 17,824 | 2,676,452 | |
HF Sinclair Corp. (b) | 39,340 | 2,238,446 | |
Kinder Morgan, Inc. | 579,776 | 10,609,901 | |
Marathon Oil Corp. | 184,646 | 5,072,226 | |
Marathon Petroleum Corp. | 136,584 | 17,553,776 | |
Occidental Petroleum Corp. | 40,311 | 2,611,750 | |
ONEOK, Inc. (b) | 115,014 | 7,876,159 | |
Ovintiv, Inc. (b) | 20,906 | 1,029,202 | |
PDC Energy, Inc. | 11,882 | 804,768 | |
Phillips 66 Co. | 137,921 | 13,829,339 | |
Pioneer Natural Resources Co. | 31,215 | 7,190,375 | |
Range Resources Corp. | 23,347 | 584,142 | |
Southwestern Energy Co. (a)(b) | 298,102 | 1,645,523 | |
The Williams Companies, Inc. | 355,339 | 11,456,129 | |
Valero Energy Corp. | 112,267 | 15,720,748 | |
Vitesse Energy, Inc. (a)(b) | 7,024 | 112,103 | |
422,306,805 | |||
TOTAL ENERGY | 463,221,969 | ||
FINANCIALS - 20.4% | |||
Banks - 7.4% | |||
Bank of America Corp. | 2,050,675 | 72,757,949 | |
Bank of Hawaii Corp. (b) | 11,529 | 881,853 | |
Bank OZK (b) | 32,607 | 1,489,162 | |
BOK Financial Corp. | 8,463 | 850,532 | |
Citigroup, Inc. | 565,183 | 29,513,856 | |
Citizens Financial Group, Inc. | 142,421 | 6,169,678 | |
Comerica, Inc. | 38,096 | 2,792,818 | |
Commerce Bancshares, Inc. | 33,153 | 2,206,664 | |
Cullen/Frost Bankers, Inc. | 17,009 | 2,215,933 | |
East West Bancorp, Inc. | 41,242 | 3,238,322 | |
Fifth Third Bancorp | 198,739 | 7,212,238 | |
First Citizens Bancshares, Inc. | 2,412 | 1,875,764 | |
First Hawaiian, Inc. (b) | 37,242 | 1,021,920 | |
First Horizon National Corp. | 154,336 | 3,816,729 | |
First Republic Bank | 53,037 | 7,471,853 | |
FNB Corp., Pennsylvania | 101,767 | 1,452,215 | |
Huntington Bancshares, Inc. | 418,603 | 6,350,208 | |
JPMorgan Chase & Co. | 851,643 | 119,195,954 | |
KeyCorp | 271,019 | 5,200,855 | |
M&T Bank Corp. | 50,149 | 7,823,244 | |
PacWest Bancorp | 33,883 | 937,204 | |
Pinnacle Financial Partners, Inc. | 21,854 | 1,720,565 | |
PNC Financial Services Group, Inc. | 117,530 | 19,442,988 | |
Popular, Inc. | 20,773 | 1,425,859 | |
Prosperity Bancshares, Inc. (b) | 25,535 | 1,937,085 | |
Regions Financial Corp. | 272,636 | 6,417,851 | |
Signature Bank | 17,147 | 2,211,106 | |
SVB Financial Group (a) | 6,197 | 1,874,221 | |
Synovus Financial Corp. (b) | 41,983 | 1,761,187 | |
Truist Financial Corp. | 388,095 | 19,168,012 | |
U.S. Bancorp | 391,767 | 19,509,997 | |
Umpqua Holdings Corp. | 63,000 | 1,146,600 | |
Webster Financial Corp. | 50,398 | 2,653,455 | |
Wells Fargo & Co. | 1,107,323 | 51,900,229 | |
Western Alliance Bancorp. | 11,962 | 901,576 | |
Wintrust Financial Corp. | 17,471 | 1,598,072 | |
Zions Bancorp NA | 42,933 | 2,282,318 | |
420,426,072 | |||
Capital Markets - 5.0% | |||
Affiliated Managers Group, Inc. | 10,902 | 1,883,211 | |
Ameriprise Financial, Inc. | 11,225 | 3,930,097 | |
Bank of New York Mellon Corp. | 214,295 | 10,836,898 | |
BlackRock, Inc. Class A | 43,811 | 33,261,749 | |
Carlyle Group LP | 60,377 | 2,171,761 | |
Cboe Global Markets, Inc. | 30,878 | 3,794,289 | |
Charles Schwab Corp. | 197,484 | 15,289,211 | |
CME Group, Inc. | 104,702 | 18,496,655 | |
Coinbase Global, Inc. (a)(b) | 46,569 | 2,723,355 | |
Evercore, Inc. Class A | 10,632 | 1,380,140 | |
Franklin Resources, Inc. (b) | 83,220 | 2,596,464 | |
Goldman Sachs Group, Inc. | 95,763 | 35,031,063 | |
Interactive Brokers Group, Inc. | 27,080 | 2,164,775 | |
Intercontinental Exchange, Inc. | 161,092 | 17,325,445 | |
Invesco Ltd. | 108,901 | 2,015,758 | |
Janus Henderson Group PLC | 39,662 | 1,028,039 | |
Jefferies Financial Group, Inc. (b) | 58,421 | 2,294,777 | |
KKR & Co. LP (b) | 166,839 | 9,311,285 | |
Lazard Ltd. Class A (b) | 24,139 | 967,491 | |
Moody's Corp. | 2,659 | 858,192 | |
Morgan Stanley | 359,955 | 35,034,420 | |
Morningstar, Inc. | 677 | 164,430 | |
MSCI, Inc. | 5,598 | 2,975,673 | |
NASDAQ, Inc. | 100,289 | 6,036,395 | |
Northern Trust Corp. | 59,954 | 5,813,739 | |
Raymond James Financial, Inc. | 52,226 | 5,889,526 | |
Robinhood Markets, Inc. (a)(b) | 163,889 | 1,706,084 | |
S&P Global, Inc. | 95,054 | 35,639,547 | |
SEI Investments Co. | 29,991 | 1,872,338 | |
State Street Corp. | 107,023 | 9,774,411 | |
Stifel Financial Corp. | 30,127 | 2,030,861 | |
T. Rowe Price Group, Inc. (b) | 64,181 | 7,475,161 | |
Tradeweb Markets, Inc. Class A | 11,556 | 861,384 | |
Virtu Financial, Inc. Class A | 27,508 | 531,179 | |
283,165,803 | |||
Consumer Finance - 1.1% | |||
Ally Financial, Inc. (b) | 87,024 | 2,827,410 | |
American Express Co. | 164,705 | 28,811,846 | |
Capital One Financial Corp. | 111,098 | 13,220,662 | |
Credit Acceptance Corp. (a)(b) | 1,762 | 815,172 | |
Discover Financial Services | 79,599 | 9,291,591 | |
OneMain Holdings, Inc. (b) | 33,473 | 1,444,025 | |
SLM Corp. (b) | 72,928 | 1,281,345 | |
SoFi Technologies, Inc. (a)(b) | 234,936 | 1,628,106 | |
Synchrony Financial | 130,958 | 4,810,087 | |
Upstart Holdings, Inc. (a)(b) | 16,634 | 310,723 | |
64,440,967 | |||
Diversified Financial Services - 3.1% | |||
Apollo Global Management, Inc. | 33,568 | 2,375,943 | |
Berkshire Hathaway, Inc. Class B (a) | 526,764 | 164,097,520 | |
Corebridge Financial, Inc. | 23,383 | 508,814 | |
Equitable Holdings, Inc. | 107,497 | 3,447,429 | |
Voya Financial, Inc. (b) | 28,382 | 1,980,212 | |
172,409,918 | |||
Insurance - 3.6% | |||
AFLAC, Inc. | 179,886 | 13,221,621 | |
Allstate Corp. | 77,110 | 9,906,322 | |
American Financial Group, Inc. | 19,622 | 2,797,901 | |
American International Group, Inc. | 216,917 | 13,713,493 | |
Aon PLC | 3,469 | 1,105,501 | |
Arch Capital Group Ltd. (a) | 69,733 | 4,487,319 | |
Arthur J. Gallagher & Co. | 53,774 | 10,524,647 | |
Assurant, Inc. | 14,570 | 1,931,836 | |
Assured Guaranty Ltd. | 16,794 | 1,051,304 | |
Axis Capital Holdings Ltd. (b) | 22,689 | 1,419,651 | |
Brighthouse Financial, Inc. (a) | 20,010 | 1,125,963 | |
Brown & Brown, Inc. | 63,705 | 3,730,565 | |
Chubb Ltd. | 121,338 | 27,603,182 | |
Cincinnati Financial Corp. | 44,713 | 5,059,276 | |
CNA Financial Corp. | 7,955 | 346,520 | |
Erie Indemnity Co. Class A | 1,901 | 464,509 | |
Everest Re Group Ltd. | 7,843 | 2,742,619 | |
F&G Annuities & Life, Inc. | 5,274 | 113,180 | |
Fidelity National Financial, Inc. (b) | 75,754 | 3,335,449 | |
First American Financial Corp. (b) | 29,418 | 1,820,092 | |
Globe Life, Inc. | 26,080 | 3,151,768 | |
Hanover Insurance Group, Inc. | 10,321 | 1,389,000 | |
Hartford Financial Services Group, Inc. | 92,612 | 7,187,617 | |
Kemper Corp. (b) | 18,520 | 1,087,680 | |
Lincoln National Corp. | 39,233 | 1,390,025 | |
Loews Corp. | 57,301 | 3,522,865 | |
Markel Corp. (a) | 3,004 | 4,232,576 | |
Marsh & McLennan Companies, Inc. | 15,474 | 2,706,557 | |
MetLife, Inc. | 192,835 | 14,080,812 | |
Old Republic International Corp. (b) | 81,421 | 2,148,700 | |
Primerica, Inc. (b) | 10,690 | 1,729,108 | |
Principal Financial Group, Inc. | 70,631 | 6,536,899 | |
Progressive Corp. | 22,158 | 3,021,243 | |
Prudential Financial, Inc. | 107,429 | 11,273,599 | |
Reinsurance Group of America, Inc. | 19,487 | 2,957,542 | |
RenaissanceRe Holdings Ltd. (b) | 5,687 | 1,112,889 | |
The Travelers Companies, Inc. | 68,275 | 13,048,718 | |
Unum Group | 57,788 | 2,428,830 | |
W.R. Berkley Corp. | 60,041 | 4,211,276 | |
White Mountains Insurance Group Ltd. (b) | 729 | 1,113,883 | |
Willis Towers Watson PLC | 31,401 | 7,981,820 | |
202,814,357 | |||
Mortgage Real Estate Investment Trusts - 0.1% | |||
AGNC Investment Corp. (b) | 166,361 | 1,929,788 | |
Annaly Capital Management, Inc. | 136,318 | 3,199,383 | |
Rithm Capital Corp. | 126,253 | 1,188,041 | |
Starwood Property Trust, Inc. | 85,169 | 1,779,180 | |
8,096,392 | |||
Thrifts & Mortgage Finance - 0.1% | |||
MGIC Investment Corp. | 86,128 | 1,216,127 | |
New York Community Bancorp, Inc. (b) | 195,194 | 1,949,988 | |
Rocket Companies, Inc. (b) | 14,405 | 135,551 | |
TFS Financial Corp. (b) | 14,708 | 209,589 | |
UWM Holdings Corp. Class A (b) | 2,515 | 11,519 | |
3,522,774 | |||
TOTAL FINANCIALS | 1,154,876,283 | ||
HEALTH CARE - 16.3% | |||
Biotechnology - 1.8% | |||
Amgen, Inc. | 24,944 | 6,295,866 | |
Biogen, Inc. (a) | 41,816 | 12,164,274 | |
BioMarin Pharmaceutical, Inc. (a) | 53,822 | 6,208,368 | |
Exact Sciences Corp. (a)(b) | 41,753 | 2,819,163 | |
Exelixis, Inc. (a) | 12,450 | 219,369 | |
Gilead Sciences, Inc. | 366,507 | 30,764,598 | |
Horizon Therapeutics PLC (a) | 4,518 | 495,715 | |
Incyte Corp. (a) | 7,179 | 611,220 | |
Ionis Pharmaceuticals, Inc. (a) | 3,326 | 132,608 | |
Mirati Therapeutics, Inc. (a)(b) | 13,012 | 694,971 | |
Moderna, Inc. (a) | 91,058 | 16,031,671 | |
Natera, Inc. (a) | 2,048 | 87,921 | |
Regeneron Pharmaceuticals, Inc. (a) | 25,844 | 19,601,899 | |
Repligen Corp. (a) | 4,644 | 860,533 | |
Ultragenyx Pharmaceutical, Inc. (a) | 4,355 | 197,412 | |
United Therapeutics Corp. (a) | 13,007 | 3,423,052 | |
Vertex Pharmaceuticals, Inc. (a) | 4,179 | 1,350,235 | |
101,958,875 | |||
Health Care Equipment & Supplies - 3.3% | |||
Abbott Laboratories | 434,577 | 48,042,487 | |
Align Technology, Inc. (a) | 5,721 | 1,543,125 | |
Baxter International, Inc. | 123,946 | 5,663,093 | |
Becton, Dickinson & Co. | 82,897 | 20,908,281 | |
Boston Scientific Corp. (a) | 416,577 | 19,266,686 | |
Dentsply Sirona, Inc. | 62,484 | 2,301,286 | |
Enovis Corp. (a)(b) | 14,760 | 929,142 | |
Envista Holdings Corp. (a) | 47,461 | 1,850,504 | |
GE HealthCare Technologies, Inc. (a) | 100,608 | 6,994,268 | |
Globus Medical, Inc. (a) | 20,778 | 1,568,739 | |
Hologic, Inc. (a) | 71,748 | 5,838,135 | |
ICU Medical, Inc. (a)(b) | 4,787 | 924,992 | |
Integra LifeSciences Holdings Corp. (a) | 21,116 | 1,209,947 | |
Intuitive Surgical, Inc. (a) | 8,125 | 1,996,231 | |
Masimo Corp. (a) | 3,250 | 552,760 | |
Medtronic PLC | 390,246 | 32,659,688 | |
QuidelOrtho Corp. (a) | 14,216 | 1,217,032 | |
STERIS PLC | 29,107 | 6,010,887 | |
Stryker Corp. | 47,697 | 12,105,976 | |
Tandem Diabetes Care, Inc. (a) | 1,258 | 51,251 | |
Teleflex, Inc. | 13,684 | 3,330,959 | |
The Cooper Companies, Inc. | 14,170 | 4,944,338 | |
Zimmer Biomet Holdings, Inc. | 61,199 | 7,793,081 | |
187,702,888 | |||
Health Care Providers & Services - 3.1% | |||
Acadia Healthcare Co., Inc. (a) | 25,967 | 2,181,747 | |
agilon health, Inc. (a)(b) | 3,646 | 79,337 | |
Amedisys, Inc. (a) | 9,323 | 901,161 | |
Cardinal Health, Inc. | 76,432 | 5,904,372 | |
Centene Corp. (a) | 165,874 | 12,646,234 | |
Chemed Corp. | 2,743 | 1,385,599 | |
Cigna Corp. | 73,497 | 23,274,295 | |
CVS Health Corp. | 382,728 | 33,764,264 | |
Elevance Health, Inc. | 48,985 | 24,492,010 | |
Encompass Health Corp. | 28,555 | 1,783,260 | |
Enhabit Home Health & Hospice (a)(b) | 14,412 | 221,368 | |
HCA Holdings, Inc. | 59,144 | 15,085,860 | |
Henry Schein, Inc. (a) | 39,428 | 3,396,722 | |
Humana, Inc. | 10,849 | 5,551,433 | |
Laboratory Corp. of America Holdings | 25,829 | 6,512,007 | |
McKesson Corp. | 33,296 | 12,608,529 | |
Molina Healthcare, Inc. (a) | 3,742 | 1,166,868 | |
Oak Street Health, Inc. (a)(b) | 33,969 | 987,139 | |
Premier, Inc. | 34,323 | 1,145,015 | |
Quest Diagnostics, Inc. | 33,106 | 4,915,579 | |
Signify Health, Inc. (a) | 22,307 | 634,857 | |
Tenet Healthcare Corp. (a) | 30,996 | 1,700,131 | |
UnitedHealth Group, Inc. | 24,579 | 12,269,591 | |
Universal Health Services, Inc. Class B | 18,093 | 2,681,564 | |
175,288,942 | |||
Health Care Technology - 0.1% | |||
Certara, Inc. (a) | 12,076 | 234,274 | |
Definitive Healthcare Corp. (a)(b) | 5,014 | 62,073 | |
Doximity, Inc. (a)(b) | 17,397 | 613,592 | |
Teladoc Health, Inc. (a)(b) | 42,314 | 1,244,032 | |
2,153,971 | |||
Life Sciences Tools & Services - 2.3% | |||
10X Genomics, Inc. (a) | 2,749 | 128,736 | |
Agilent Technologies, Inc. | 8,802 | 1,338,608 | |
Avantor, Inc. (a) | 12,628 | 301,809 | |
Azenta, Inc. (a) | 21,596 | 1,207,216 | |
Bio-Rad Laboratories, Inc. Class A (a) | 6,235 | 2,914,613 | |
Charles River Laboratories International, Inc. (a) | 989 | 240,574 | |
Danaher Corp. | 176,155 | 46,571,859 | |
Illumina, Inc. (a) | 45,858 | 9,822,784 | |
PerkinElmer, Inc. | 36,789 | 5,059,591 | |
QIAGEN NV (a) | 66,156 | 3,241,644 | |
Syneos Health, Inc. (a) | 24,651 | 885,464 | |
Thermo Fisher Scientific, Inc. | 100,305 | 57,206,951 | |
128,919,849 | |||
Pharmaceuticals - 5.7% | |||
Bristol-Myers Squibb Co. | 621,821 | 45,175,296 | |
Catalent, Inc. (a) | 35,539 | 1,903,113 | |
Elanco Animal Health, Inc. (a)(b) | 129,846 | 1,782,786 | |
Eli Lilly & Co. | 45,759 | 15,747,960 | |
Jazz Pharmaceuticals PLC (a) | 17,953 | 2,812,517 | |
Johnson & Johnson | 768,421 | 125,575,360 | |
Merck & Co., Inc. | 429,136 | 46,093,498 | |
Organon & Co. | 74,106 | 2,232,814 | |
Perrigo Co. PLC | 39,159 | 1,465,330 | |
Pfizer, Inc. | 1,650,240 | 72,874,598 | |
Royalty Pharma PLC | 108,475 | 4,251,135 | |
Viatris, Inc. | 353,420 | 4,297,587 | |
324,211,994 | |||
TOTAL HEALTH CARE | 920,236,519 | ||
INDUSTRIALS - 10.3% | |||
Aerospace & Defense - 2.4% | |||
Axon Enterprise, Inc. (a) | 4,452 | 870,099 | |
BWX Technologies, Inc. | 16,240 | 988,366 | |
Curtiss-Wright Corp. (b) | 11,166 | 1,851,323 | |
General Dynamics Corp. | 71,014 | 16,550,523 | |
HEICO Corp. (b) | 570 | 97,442 | |
HEICO Corp. Class A | 1,783 | 238,351 | |
Hexcel Corp. (b) | 24,435 | 1,724,622 | |
Howmet Aerospace, Inc. | 97,627 | 3,972,443 | |
Huntington Ingalls Industries, Inc. | 8,953 | 1,974,495 | |
L3Harris Technologies, Inc. | 55,441 | 11,909,836 | |
Mercury Systems, Inc. (a) | 14,342 | 716,885 | |
Northrop Grumman Corp. | 37,739 | 16,908,582 | |
Raytheon Technologies Corp. | 429,166 | 42,852,225 | |
Spirit AeroSystems Holdings, Inc. Class A (b) | 1,570 | 56,756 | |
Textron, Inc. | 60,818 | 4,430,591 | |
The Boeing Co. (a) | 110,235 | 23,480,055 | |
TransDigm Group, Inc. | 9,183 | 6,591,098 | |
Woodward, Inc. | 17,163 | 1,755,088 | |
136,968,780 | |||
Air Freight & Logistics - 0.4% | |||
C.H. Robinson Worldwide, Inc. | 24,744 | 2,478,606 | |
Expeditors International of Washington, Inc. | 31,972 | 3,457,772 | |
FedEx Corp. | 70,079 | 13,585,515 | |
GXO Logistics, Inc. (a) | 27,443 | 1,436,092 | |
United Parcel Service, Inc. Class B | 23,181 | 4,293,817 | |
25,251,802 | |||
Airlines - 0.3% | |||
Alaska Air Group, Inc. (a) | 36,078 | 1,852,245 | |
American Airlines Group, Inc. (a) | 188,358 | 3,040,098 | |
Copa Holdings SA Class A (a)(b) | 8,366 | 770,341 | |
JetBlue Airways Corp. (a) | 93,516 | 748,128 | |
Southwest Airlines Co. | 172,746 | 6,179,124 | |
United Airlines Holdings, Inc. (a) | 95,136 | 4,657,859 | |
17,247,795 | |||
Building Products - 0.9% | |||
A.O. Smith Corp. (b) | 27,690 | 1,874,613 | |
Allegion PLC | 5,314 | 624,661 | |
Armstrong World Industries, Inc. | 5,572 | 431,329 | |
Builders FirstSource, Inc. (a)(b) | 42,412 | 3,380,236 | |
Carlisle Companies, Inc. | 2,354 | 590,524 | |
Carrier Global Corp. | 243,817 | 11,100,988 | |
Fortune Brands Home & Security, Inc. (b) | 24,658 | 1,590,688 | |
Hayward Holdings, Inc. (a)(b) | 19,640 | 264,944 | |
Johnson Controls International PLC | 200,960 | 13,980,787 | |
Lennox International, Inc. (b) | 9,316 | 2,427,936 | |
Masco Corp. | 62,289 | 3,313,775 | |
MasterBrand, Inc. (a) | 24,930 | 229,356 | |
Owens Corning | 27,204 | 2,629,267 | |
The AZEK Co., Inc. (a)(b) | 32,431 | 782,560 | |
Trane Technologies PLC | 28,086 | 5,030,764 | |
48,252,428 | |||
Commercial Services & Supplies - 0.3% | |||
Cintas Corp. | 1,693 | 751,252 | |
Clean Harbors, Inc. (a)(b) | 14,865 | 1,936,910 | |
Driven Brands Holdings, Inc. (a) | 17,083 | 498,653 | |
IAA, Inc. (a) | 6,675 | 278,548 | |
MSA Safety, Inc. | 6,610 | 901,538 | |
Republic Services, Inc. | 56,313 | 7,028,989 | |
Rollins, Inc. | 4,932 | 179,525 | |
Stericycle, Inc. (a) | 26,728 | 1,438,234 | |
Tetra Tech, Inc. | 9,032 | 1,404,657 | |
Waste Management, Inc. | 7,547 | 1,167,747 | |
15,586,053 | |||
Construction & Engineering - 0.2% | |||
AECOM | 36,062 | 3,147,131 | |
MasTec, Inc. (a) | 17,776 | 1,746,136 | |
MDU Resources Group, Inc. | 58,906 | 1,820,784 | |
Quanta Services, Inc. | 18,842 | 2,867,564 | |
Valmont Industries, Inc. | 5,275 | 1,739,326 | |
Willscot Mobile Mini Holdings (a) | 27,756 | 1,345,056 | |
12,665,997 | |||
Electrical Equipment - 1.0% | |||
Acuity Brands, Inc. | 9,348 | 1,762,285 | |
AMETEK, Inc. | 67,215 | 9,740,798 | |
Eaton Corp. PLC | 116,525 | 18,901,520 | |
Emerson Electric Co. | 117,383 | 10,590,294 | |
Hubbell, Inc. Class B | 15,617 | 3,574,887 | |
nVent Electric PLC | 48,173 | 1,914,877 | |
Plug Power, Inc. (a)(b) | 76,185 | 1,296,669 | |
Regal Rexnord Corp. | 19,294 | 2,685,725 | |
Rockwell Automation, Inc. | 10,889 | 3,071,025 | |
Sensata Technologies, Inc. PLC | 44,095 | 2,242,231 | |
Sunrun, Inc. (a) | 60,737 | 1,596,168 | |
Vertiv Holdings Co. (b) | 74,534 | 1,059,873 | |
58,436,352 | |||
Industrial Conglomerates - 1.3% | |||
3M Co. | 160,945 | 18,521,551 | |
General Electric Co. | 301,824 | 24,290,796 | |
Honeywell International, Inc. | 138,922 | 28,962,459 | |
71,774,806 | |||
Machinery - 2.0% | |||
AGCO Corp. | 15,712 | 2,170,299 | |
Allison Transmission Holdings, Inc. | 5,615 | 253,124 | |
Caterpillar, Inc. | 19,600 | 4,944,884 | |
Crane Holdings Co. (b) | 13,717 | 1,589,937 | |
Cummins, Inc. | 41,116 | 10,260,087 | |
Donaldson Co., Inc. (b) | 29,928 | 1,866,011 | |
Dover Corp. | 40,857 | 6,203,318 | |
ESAB Corp. (b) | 14,780 | 854,432 | |
Flowserve Corp. | 37,968 | 1,306,859 | |
Fortive Corp. | 103,288 | 7,026,683 | |
Gates Industrial Corp. PLC (a) | 31,453 | 415,494 | |
Graco, Inc. | 15,370 | 1,050,078 | |
IDEX Corp. | 18,213 | 4,365,292 | |
Illinois Tool Works, Inc. | 9,012 | 2,127,192 | |
Ingersoll Rand, Inc. | 118,488 | 6,635,328 | |
ITT, Inc. | 24,343 | 2,229,575 | |
Middleby Corp. (a) | 14,517 | 2,256,668 | |
Nordson Corp. | 12,778 | 3,108,887 | |
Oshkosh Corp. (b) | 19,149 | 1,929,836 | |
Otis Worldwide Corp. | 106,789 | 8,781,259 | |
PACCAR, Inc. | 99,532 | 10,879,843 | |
Parker Hannifin Corp. | 28,861 | 9,408,686 | |
Pentair PLC (b) | 47,983 | 2,657,299 | |
Snap-On, Inc. | 15,336 | 3,814,523 | |
Stanley Black & Decker, Inc. | 43,068 | 3,846,403 | |
Timken Co. (b) | 17,834 | 1,468,630 | |
Westinghouse Air Brake Tech Co. | 52,799 | 5,481,064 | |
Xylem, Inc. | 44,932 | 4,673,377 | |
111,605,068 | |||
Marine - 0.0% | |||
Kirby Corp. (a) | 17,406 | 1,231,997 | |
Professional Services - 0.6% | |||
CACI International, Inc. Class A (a) | 6,756 | 2,081,456 | |
Clarivate Analytics PLC (a)(b) | 137,640 | 1,530,557 | |
CoStar Group, Inc. (a) | 100,830 | 7,854,657 | |
Dun & Bradstreet Holdings, Inc. | 73,313 | 1,074,035 | |
Equifax, Inc. (b) | 17,727 | 3,938,939 | |
FTI Consulting, Inc. (a)(b) | 5,700 | 909,264 | |
Jacobs Solutions, Inc. | 37,278 | 4,605,697 | |
KBR, Inc. | 13,988 | 716,605 | |
Leidos Holdings, Inc. | 39,729 | 3,926,814 | |
Manpower, Inc. | 14,654 | 1,277,243 | |
Robert Half International, Inc. | 3,637 | 305,363 | |
Science Applications International Corp. (b) | 16,031 | 1,663,697 | |
TransUnion Holding Co., Inc. (b) | 14,985 | 1,075,174 | |
30,959,501 | |||
Road & Rail - 0.7% | |||
Avis Budget Group, Inc. (a) | 7,447 | 1,489,698 | |
CSX Corp. | 458,660 | 14,181,767 | |
Hertz Global Holdings, Inc. (a) | 55,057 | 992,127 | |
J.B. Hunt Transport Services, Inc. | 2,619 | 495,122 | |
Knight-Swift Transportation Holdings, Inc. Class A | 45,495 | 2,688,755 | |
Landstar System, Inc. | 1,134 | 195,989 | |
Norfolk Southern Corp. | 67,437 | 16,576,689 | |
RXO, Inc. (a) | 27,579 | 505,247 | |
Ryder System, Inc. | 14,167 | 1,337,506 | |
Schneider National, Inc. Class B | 15,748 | 417,322 | |
U-Haul Holding Co. (b) | 2,682 | 179,774 | |
U-Haul Holding Co. (non-vtg.) (b) | 23,548 | 1,455,031 | |
XPO, Inc. (a)(b) | 27,582 | 1,099,419 | |
41,614,446 | |||
Trading Companies & Distributors - 0.2% | |||
Air Lease Corp. Class A (b) | 30,295 | 1,362,366 | |
Core & Main, Inc. (a)(b) | 13,670 | 301,697 | |
MSC Industrial Direct Co., Inc. Class A (b) | 13,475 | 1,114,383 | |
SiteOne Landscape Supply, Inc. (a)(b) | 5,085 | 770,428 | |
United Rentals, Inc. | 11,020 | 4,859,269 | |
Univar Solutions, Inc. (a) | 46,888 | 1,616,698 | |
Watsco, Inc. (b) | 4,525 | 1,300,349 | |
WESCO International, Inc. (a) | 6,118 | 911,643 | |
12,236,833 | |||
TOTAL INDUSTRIALS | 583,831,858 | ||
INFORMATION TECHNOLOGY - 8.6% | |||
Communications Equipment - 1.4% | |||
Ciena Corp. (a) | 42,964 | 2,234,987 | |
Cisco Systems, Inc. | 1,199,882 | 58,398,257 | |
F5, Inc. (a) | 17,362 | 2,563,673 | |
Juniper Networks, Inc. | 93,191 | 3,010,069 | |
Lumentum Holdings, Inc. (a) | 19,858 | 1,195,054 | |
Motorola Solutions, Inc. | 48,033 | 12,344,961 | |
Ubiquiti, Inc. | 869 | 253,887 | |
ViaSat, Inc. (a)(b) | 20,949 | 721,693 | |
80,722,581 | |||
Electronic Equipment & Components - 0.6% | |||
Amphenol Corp. Class A | 42,031 | 3,352,813 | |
Arrow Electronics, Inc. (a) | 16,973 | 1,994,158 | |
Avnet, Inc. | 26,521 | 1,216,783 | |
Cognex Corp. | 3,459 | 189,346 | |
Coherent Corp. (a) | 29,133 | 1,264,372 | |
Corning, Inc. | 207,263 | 7,173,372 | |
IPG Photonics Corp. (a) | 9,508 | 1,065,847 | |
Jabil, Inc. | 7,054 | 554,656 | |
Keysight Technologies, Inc. (a) | 3,869 | 693,905 | |
Littelfuse, Inc. | 7,049 | 1,809,408 | |
National Instruments Corp. | 33,177 | 1,791,558 | |
TD SYNNEX Corp. | 13,616 | 1,390,874 | |
Teledyne Technologies, Inc. (a) | 13,507 | 5,730,480 | |
Trimble, Inc. (a) | 71,805 | 4,168,998 | |
Vontier Corp. | 17,353 | 399,640 | |
Zebra Technologies Corp. Class A (a) | 8,880 | 2,807,678 | |
35,603,888 | |||
IT Services - 2.3% | |||
Affirm Holdings, Inc. (a)(b) | 63,437 | 1,027,045 | |
Akamai Technologies, Inc. (a) | 45,179 | 4,018,672 | |
Amdocs Ltd. | 35,231 | 3,238,786 | |
Automatic Data Processing, Inc. | 9,997 | 2,257,423 | |
Block, Inc. Class A (a) | 156,415 | 12,782,234 | |
Broadridge Financial Solutions, Inc. | 3,130 | 470,627 | |
Cognizant Technology Solutions Corp. Class A | 149,719 | 9,993,743 | |
Concentrix Corp. | 12,396 | 1,757,877 | |
DXC Technology Co. (a) | 67,084 | 1,927,323 | |
Euronet Worldwide, Inc. (a) | 3,415 | 384,802 | |
Fidelity National Information Services, Inc. | 173,006 | 12,982,370 | |
Fiserv, Inc. (a) | 156,229 | 16,666,510 | |
Genpact Ltd. (b) | 24,849 | 1,174,861 | |
Global Payments, Inc. | 78,284 | 8,824,172 | |
GoDaddy, Inc. (a) | 39,338 | 3,230,830 | |
IBM Corp. | 87,236 | 11,753,306 | |
Kyndryl Holdings, Inc. (a)(b) | 59,591 | 797,923 | |
Okta, Inc. (a) | 38,118 | 2,805,866 | |
PayPal Holdings, Inc. (a) | 230,271 | 18,764,784 | |
Snowflake, Inc. (a) | 5,726 | 895,775 | |
SS&C Technologies Holdings, Inc. | 64,348 | 3,883,402 | |
The Western Union Co. (b) | 74,515 | 1,055,878 | |
Twilio, Inc. Class A (a) | 31,598 | 1,890,824 | |
VeriSign, Inc. (a) | 24,168 | 5,269,832 | |
WEX, Inc. (a) | 3,502 | 647,765 | |
Wix.com Ltd. (a)(b) | 3,577 | 311,127 | |
128,813,757 | |||
Semiconductors & Semiconductor Equipment - 2.3% | |||
Advanced Micro Devices, Inc. (a) | 99,976 | 7,513,196 | |
Analog Devices, Inc. | 119,685 | 20,522,387 | |
Cirrus Logic, Inc. (a)(b) | 15,978 | 1,444,251 | |
First Solar, Inc. (a) | 30,983 | 5,502,581 | |
GlobalFoundries, Inc. (a)(b) | 14,016 | 830,868 | |
Intel Corp. | 1,194,826 | 33,765,783 | |
Marvell Technology, Inc. | 247,581 | 10,683,120 | |
Microchip Technology, Inc. | 22,672 | 1,759,801 | |
Micron Technology, Inc. | 257,087 | 15,502,346 | |
MKS Instruments, Inc. | 16,709 | 1,709,665 | |
onsemi (a) | 47,586 | 3,495,192 | |
Qorvo, Inc. (a) | 29,490 | 3,204,383 | |
Skyworks Solutions, Inc. | 46,906 | 5,144,181 | |
Teradyne, Inc. | 4,248 | 432,022 | |
Texas Instruments, Inc. | 83,464 | 14,790,655 | |
Wolfspeed, Inc. (a)(b) | 35,910 | 2,765,429 | |
129,065,860 | |||
Software - 1.7% | |||
ANSYS, Inc. (a) | 11,999 | 3,196,054 | |
Bill.Com Holdings, Inc. (a) | 28,839 | 3,334,365 | |
Black Knight, Inc. (a) | 40,878 | 2,476,798 | |
CCC Intelligent Solutions Holdings, Inc. Class A (a) | 30,674 | 283,735 | |
Ceridian HCM Holding, Inc. (a) | 32,323 | 2,336,306 | |
Coupa Software, Inc. (a) | 9,741 | 778,501 | |
Dolby Laboratories, Inc. Class A | 17,792 | 1,415,532 | |
DoubleVerify Holdings, Inc. (a) | 2,872 | 78,090 | |
Dropbox, Inc. Class A (a) | 5,382 | 125,024 | |
Gen Digital, Inc. | 104,732 | 2,409,883 | |
Guidewire Software, Inc. (a) | 23,896 | 1,750,143 | |
Informatica, Inc. (a)(b) | 8,995 | 160,111 | |
Jamf Holding Corp. (a) | 2,736 | 54,364 | |
Manhattan Associates, Inc. (a) | 6,928 | 903,134 | |
nCino, Inc. (a)(b) | 16,279 | 465,579 | |
NCR Corp. (a)(b) | 35,137 | 963,457 | |
Nutanix, Inc. Class A (a) | 32,074 | 893,902 | |
Oracle Corp. | 139,692 | 12,357,154 | |
Paycor HCM, Inc. (a)(b) | 15,959 | 400,730 | |
Procore Technologies, Inc. (a)(b) | 5,812 | 325,181 | |
Roper Technologies, Inc. | 30,812 | 13,149,021 | |
Salesforce.com, Inc. (a) | 220,861 | 37,098,022 | |
SentinelOne, Inc. (a)(b) | 16,526 | 249,377 | |
Teradata Corp. (a)(b) | 13,659 | 476,426 | |
Tyler Technologies, Inc. (a) | 1,523 | 491,579 | |
UiPath, Inc. Class A (a) | 99,808 | 1,533,051 | |
Unity Software, Inc. (a)(b) | 23,662 | 840,474 | |
VMware, Inc. Class A (a) | 31,642 | 3,875,196 | |
Zoom Video Communications, Inc. Class A (a) | 36,535 | 2,740,125 | |
95,161,314 | |||
Technology Hardware, Storage & Peripherals - 0.3% | |||
Dell Technologies, Inc. | 62,413 | 2,535,216 | |
Hewlett Packard Enterprise Co. | 374,946 | 6,047,879 | |
HP, Inc. | 158,835 | 4,628,452 | |
Western Digital Corp. (a) | 92,708 | 4,074,517 | |
17,286,064 | |||
TOTAL INFORMATION TECHNOLOGY | 486,653,464 | ||
MATERIALS - 4.5% | |||
Chemicals - 2.7% | |||
Air Products & Chemicals, Inc. | 64,636 | 20,716,484 | |
Albemarle Corp. | 16,558 | 4,660,249 | |
Ashland, Inc. | 14,770 | 1,613,918 | |
Axalta Coating Systems Ltd. (a)(b) | 48,740 | 1,467,074 | |
Celanese Corp. Class A | 31,585 | 3,891,272 | |
Corteva, Inc. | 208,708 | 13,451,231 | |
Dow, Inc. | 205,488 | 12,195,713 | |
DuPont de Nemours, Inc. | 146,298 | 10,818,737 | |
Eastman Chemical Co. | 34,879 | 3,075,281 | |
Ecolab, Inc. | 8,469 | 1,311,255 | |
Element Solutions, Inc. | 65,737 | 1,346,294 | |
FMC Corp. | 24,173 | 3,218,151 | |
Ginkgo Bioworks Holdings, Inc. Class A (a)(b) | 206,207 | 402,104 | |
Huntsman Corp. (b) | 53,166 | 1,684,831 | |
International Flavors & Fragrances, Inc. | 74,344 | 8,360,726 | |
Linde PLC | 113,961 | 37,714,253 | |
LyondellBasell Industries NV Class A | 74,963 | 7,248,172 | |
NewMarket Corp. | 1,699 | 585,322 | |
Olin Corp. | 36,807 | 2,377,364 | |
PPG Industries, Inc. | 32,239 | 4,202,031 | |
RPM International, Inc. (b) | 35,322 | 3,175,801 | |
The Chemours Co. LLC (b) | 17,347 | 631,257 | |
The Mosaic Co. | 86,991 | 4,309,534 | |
The Scotts Miracle-Gro Co. Class A (b) | 7,742 | 558,895 | |
Westlake Corp. (b) | 9,625 | 1,181,469 | |
150,197,418 | |||
Construction Materials - 0.2% | |||
Eagle Materials, Inc. | 1,813 | 264,843 | |
Martin Marietta Materials, Inc. | 16,544 | 5,949,884 | |
Vulcan Materials Co. | 19,772 | 3,624,801 | |
9,839,528 | |||
Containers & Packaging - 0.5% | |||
Amcor PLC | 437,511 | 5,276,383 | |
Aptargroup, Inc. (b) | 19,096 | 2,208,261 | |
Ardagh Group SA (a) | 5,448 | 58,457 | |
Ardagh Metal Packaging SA (b) | 29,006 | 163,014 | |
Avery Dennison Corp. | 9,143 | 1,732,050 | |
Ball Corp. | 54,150 | 3,153,696 | |
Berry Global Group, Inc. | 18,882 | 1,165,586 | |
Crown Holdings, Inc. | 3,995 | 352,199 | |
Graphic Packaging Holding Co. | 20,427 | 492,086 | |
International Paper Co. | 103,599 | 4,332,510 | |
Packaging Corp. of America | 26,616 | 3,798,103 | |
Silgan Holdings, Inc. | 24,524 | 1,321,598 | |
Sonoco Products Co. | 28,381 | 1,734,363 | |
WestRock Co. | 73,920 | 2,900,621 | |
28,688,927 | |||
Metals & Mining - 1.1% | |||
Alcoa Corp. | 51,555 | 2,693,233 | |
Cleveland-Cliffs, Inc. (a) | 149,027 | 3,181,726 | |
Freeport-McMoRan, Inc. | 416,065 | 18,564,820 | |
Newmont Corp. | 231,872 | 12,272,985 | |
Nucor Corp. (b) | 74,800 | 12,642,696 | |
Reliance Steel & Aluminum Co. | 17,031 | 3,873,701 | |
Royal Gold, Inc. (b) | 17,869 | 2,269,899 | |
Southern Copper Corp. (b) | 8,519 | 640,714 | |
SSR Mining, Inc. (b) | 60,071 | 1,017,603 | |
Steel Dynamics, Inc. (b) | 48,556 | 5,857,796 | |
United States Steel Corp. | 67,697 | 1,928,688 | |
64,943,861 | |||
Paper & Forest Products - 0.0% | |||
Louisiana-Pacific Corp. | 18,716 | 1,274,372 | |
TOTAL MATERIALS | 254,944,106 | ||
REAL ESTATE - 4.7% | |||
Equity Real Estate Investment Trusts (REITs) - 4.5% | |||
Alexandria Real Estate Equities, Inc. | 47,253 | 7,595,447 | |
American Homes 4 Rent Class A (b) | 89,764 | 3,078,008 | |
American Tower Corp. | 31,564 | 7,051,082 | |
Americold Realty Trust | 78,383 | 2,462,010 | |
Apartment Income (REIT) Corp. | 40,123 | 1,535,106 | |
AvalonBay Communities, Inc. | 40,744 | 7,229,615 | |
Boston Properties, Inc. | 45,709 | 3,407,149 | |
Brixmor Property Group, Inc. | 86,982 | 2,046,686 | |
Camden Property Trust (SBI) | 27,695 | 3,412,301 | |
Cousins Properties, Inc. (b) | 44,037 | 1,207,495 | |
CubeSmart | 65,187 | 2,984,913 | |
Digital Realty Trust, Inc. | 83,690 | 9,592,548 | |
Douglas Emmett, Inc. | 49,283 | 825,490 | |
EastGroup Properties, Inc. | 11,995 | 2,018,159 | |
EPR Properties | 21,587 | 917,016 | |
Equinix, Inc. | 6,632 | 4,895,278 | |
Equity Lifestyle Properties, Inc. | 20,045 | 1,438,830 | |
Equity Residential (SBI) | 108,023 | 6,875,664 | |
Essex Property Trust, Inc. | 18,956 | 4,285,383 | |
Extra Space Storage, Inc. | 34,049 | 5,373,954 | |
Federal Realty Investment Trust (SBI) | 23,407 | 2,610,583 | |
First Industrial Realty Trust, Inc. | 38,415 | 2,049,440 | |
Gaming & Leisure Properties | 71,211 | 3,814,061 | |
Healthcare Trust of America, Inc. | 110,572 | 2,380,615 | |
Healthpeak Properties, Inc. | 157,282 | 4,322,109 | |
Highwoods Properties, Inc. (SBI) | 30,288 | 919,847 | |
Host Hotels & Resorts, Inc. | 206,466 | 3,891,884 | |
Hudson Pacific Properties, Inc. | 40,117 | 456,933 | |
Invitation Homes, Inc. | 177,998 | 5,784,935 | |
Iron Mountain, Inc. | 21,132 | 1,153,385 | |
JBG SMITH Properties | 31,147 | 627,301 | |
Kilroy Realty Corp. | 33,891 | 1,390,887 | |
Kimco Realty Corp. | 176,154 | 3,956,419 | |
Lamar Advertising Co. Class A | 3,026 | 322,390 | |
Life Storage, Inc. | 24,533 | 2,650,545 | |
Medical Properties Trust, Inc. (b) | 173,202 | 2,242,966 | |
Mid-America Apartment Communities, Inc. | 33,486 | 5,582,786 | |
National Retail Properties, Inc. | 51,990 | 2,461,727 | |
National Storage Affiliates Trust | 24,750 | 1,009,800 | |
Omega Healthcare Investors, Inc. | 68,537 | 2,017,729 | |
Park Hotels & Resorts, Inc. | 64,991 | 956,018 | |
Prologis (REIT), Inc. | 268,768 | 34,746,327 | |
Public Storage | 9,397 | 2,859,883 | |
Rayonier, Inc. | 42,488 | 1,546,138 | |
Realty Income Corp. | 183,089 | 12,418,927 | |
Regency Centers Corp. | 49,976 | 3,329,901 | |
Rexford Industrial Realty, Inc. | 53,560 | 3,399,453 | |
SBA Communications Corp. Class A | 24,016 | 7,145,480 | |
Simon Property Group, Inc. | 49,009 | 6,295,696 | |
SL Green Realty Corp. (b) | 18,665 | 768,065 | |
Spirit Realty Capital, Inc. | 40,583 | 1,780,782 | |
Store Capital Corp. | 74,097 | 2,386,664 | |
Sun Communities, Inc. | 35,483 | 5,565,863 | |
UDR, Inc. | 94,430 | 4,021,774 | |
Ventas, Inc. | 116,454 | 6,033,482 | |
VICI Properties, Inc. | 280,611 | 9,591,284 | |
Vornado Realty Trust | 51,454 | 1,254,963 | |
Welltower, Inc. | 138,003 | 10,355,745 | |
Weyerhaeuser Co. | 214,655 | 7,390,572 | |
WP Carey, Inc. | 60,140 | 5,143,774 | |
254,869,267 | |||
Real Estate Management & Development - 0.2% | |||
CBRE Group, Inc. (a) | 47,069 | 4,024,870 | |
Howard Hughes Corp. (a) | 10,677 | 912,777 | |
Jones Lang LaSalle, Inc. (a) | 13,919 | 2,573,206 | |
Opendoor Technologies, Inc. (a)(b) | 99,071 | 216,965 | |
WeWork, Inc. (a)(b) | 63,570 | 101,076 | |
Zillow Group, Inc.: | |||
Class A (a) | 15,650 | 672,324 | |
Class C (a) | 43,006 | 1,901,295 | |
10,402,513 | |||
TOTAL REAL ESTATE | 265,271,780 | ||
UTILITIES - 5.4% | |||
Electric Utilities - 3.4% | |||
Alliant Energy Corp. | 73,111 | 3,950,187 | |
American Electric Power Co., Inc. | 150,073 | 14,100,859 | |
Avangrid, Inc. (b) | 20,672 | 871,738 | |
Constellation Energy Corp. | 95,262 | 8,131,564 | |
Duke Energy Corp. | 224,801 | 23,030,862 | |
Edison International | 109,677 | 7,556,745 | |
Entergy Corp. | 59,218 | 6,412,125 | |
Evergy, Inc. | 64,841 | 4,062,289 | |
Eversource Energy | 100,531 | 8,276,717 | |
Exelon Corp. | 289,797 | 12,226,535 | |
FirstEnergy Corp. (b) | 158,407 | 6,486,767 | |
Hawaiian Electric Industries, Inc. | 31,718 | 1,340,720 | |
IDACORP, Inc. (b) | 14,674 | 1,552,656 | |
NextEra Energy, Inc. | 579,850 | 43,274,206 | |
NRG Energy, Inc. (b) | 66,819 | 2,286,546 | |
OGE Energy Corp. | 58,236 | 2,289,840 | |
PG&E Corp. (a) | 480,283 | 7,636,500 | |
Pinnacle West Capital Corp. | 32,924 | 2,454,484 | |
PPL Corp. | 214,985 | 6,363,556 | |
Southern Co. | 317,474 | 21,486,640 | |
Xcel Energy, Inc. | 159,102 | 10,941,445 | |
194,732,981 | |||
Gas Utilities - 0.2% | |||
Atmos Energy Corp. | 40,251 | 4,731,103 | |
National Fuel Gas Co. (b) | 23,491 | 1,363,887 | |
UGI Corp. | 61,057 | 2,431,900 | |
8,526,890 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
Brookfield Renewable Corp. (b) | 37,238 | 1,173,742 | |
The AES Corp. | 159,564 | 4,373,649 | |
Vistra Corp. | 48,463 | 1,117,557 | |
6,664,948 | |||
Multi-Utilities - 1.5% | |||
Ameren Corp. | 75,077 | 6,521,939 | |
CenterPoint Energy, Inc. | 183,809 | 5,536,327 | |
CMS Energy Corp. | 84,449 | 5,336,332 | |
Consolidated Edison, Inc. | 103,535 | 9,867,921 | |
Dominion Energy, Inc. | 242,956 | 15,461,720 | |
DTE Energy Co. | 56,276 | 6,548,838 | |
NiSource, Inc. | 118,428 | 3,286,377 | |
Public Service Enterprise Group, Inc. (b) | 145,262 | 8,996,076 | |
Sempra Energy | 91,822 | 14,721,821 | |
WEC Energy Group, Inc. | 92,063 | 8,653,001 | |
84,930,352 | |||
Water Utilities - 0.2% | |||
American Water Works Co., Inc. | 53,074 | 8,305,550 | |
Essential Utilities, Inc. (b) | 67,488 | 3,153,714 | |
11,459,264 | |||
TOTAL UTILITIES | 306,314,435 | ||
TOTAL COMMON STOCKS (Cost $4,118,343,522) | 5,626,131,602 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 4.65% 6/29/23 (d) (Cost $981,243) | 1,000,000 | 981,226 | |
Money Market Funds - 3.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.38% (e) | 26,163,425 | 26,168,658 | |
Fidelity Securities Lending Cash Central Fund 4.38% (e)(f) | 159,853,316 | 159,869,302 | |
TOTAL MONEY MARKET FUNDS (Cost $186,037,583) | 186,037,960 | ||
TOTAL INVESTMENT IN SECURITIES - 102.8% (Cost $4,305,362,348) | 5,813,150,788 |
NET OTHER ASSETS (LIABILITIES) - (2.8)% | (156,617,537) |
NET ASSETS - 100.0% | 5,656,533,251 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 80 | Mar 2023 | 16,360,000 | 737,370 | 737,370 |
CME E-mini S&P MidCap 400 Index Contracts (United States) | 68 | Mar 2023 | 18,107,720 | 1,176,609 | 1,176,609 |
TOTAL FUTURES CONTRACTS | 1,913,979 | ||||
The notional amount of futures purchased as a percentage of Net Assets is 0.6% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $981,226. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.38% | 16,406,949 | 703,853,630 | 694,091,921 | 331,766 | - | - | 26,168,658 | 0.1% |
Fidelity Securities Lending Cash Central Fund 4.38% | 69,339,940 | 1,010,971,381 | 920,442,019 | 682,647 | - | - | 159,869,302 | 0.5% |
Total | 85,746,889 | 1,714,825,011 | 1,614,533,940 | 1,014,413 | - | - | 186,037,960 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 447,017,563 | 447,017,563 | - | - |
Consumer Discretionary | 355,372,774 | 355,372,774 | - | - |
Consumer Staples | 388,390,851 | 388,390,851 | - | - |
Energy | 463,221,969 | 463,221,969 | - | - |
Financials | 1,154,876,283 | 1,154,876,283 | - | - |
Health Care | 920,236,519 | 920,236,519 | - | - |
Industrials | 583,831,858 | 583,831,858 | - | - |
Information Technology | 486,653,464 | 486,653,464 | - | - |
Materials | 254,944,106 | 254,944,106 | - | - |
Real Estate | 265,271,780 | 265,271,780 | - | - |
Utilities | 306,314,435 | 306,314,435 | - | - |
U.S. Government and Government Agency Obligations | 981,226 | - | 981,226 | - |
Money Market Funds | 186,037,960 | 186,037,960 | - | - |
Total Investments in Securities: | 5,813,150,788 | 5,812,169,562 | 981,226 | - |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 1,913,979 | 1,913,979 | - | - |
Total Assets | 1,913,979 | 1,913,979 | - | - |
Total Derivative Instruments: | 1,913,979 | 1,913,979 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 1,913,979 | 0 |
Total Equity Risk | 1,913,979 | 0 |
Total Value of Derivatives | 1,913,979 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $160,015,990) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $4,119,324,765) | $ | 5,627,112,828 | ||
Fidelity Central Funds (cost $186,037,583) | 186,037,960 | |||
Total Investment in Securities (cost $4,305,362,348) | $ | 5,813,150,788 | ||
Segregated cash with brokers for derivative instruments | 629,010 | |||
Cash | 6 | |||
Receivable for fund shares sold | 111,153,549 | |||
Dividends receivable | 5,376,997 | |||
Distributions receivable from Fidelity Central Funds | 180,753 | |||
Receivable for daily variation margin on futures contracts | 628,371 | |||
Other receivables | 1,048 | |||
Total assets | 5,931,120,522 | |||
Liabilities | ||||
Payable for investments purchased | $ | 111,676,686 | ||
Payable for fund shares redeemed | 3,023,171 | |||
Other payables and accrued expenses | 28,918 | |||
Collateral on securities loaned | 159,858,496 | |||
Total Liabilities | 274,587,271 | |||
Net Assets | $ | 5,656,533,251 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 4,181,557,026 | ||
Total accumulated earnings (loss) | 1,474,976,225 | |||
Net Assets | $ | 5,656,533,251 | ||
Net Asset Value , offering price and redemption price per share ($5,656,533,251 ÷ 389,963,408 shares) | $ | 14.51 |
Statement of Operations | ||||
Year ended January 31, 2023 | ||||
Investment Income | ||||
Dividends | $ | 120,434,259 | ||
Interest | 14,476 | |||
Income from Fidelity Central Funds (including $682,647 from security lending) | 1,014,413 | |||
Total Income | 121,463,148 | |||
Expenses | ||||
Custodian fees and expenses | $ | 119,159 | ||
Independent trustees' fees and expenses | 19,075 | |||
Legal | 2,347 | |||
Interest | 21,206 | |||
Total Expenses | 161,787 | |||
Net Investment income (loss) | 121,301,361 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 137,060,259 | |||
Futures contracts | (2,517,347) | |||
Total net realized gain (loss) | 134,542,912 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (294,327,199) | |||
Futures contracts | 1,486,218 | |||
Total change in net unrealized appreciation (depreciation) | (292,840,981) | |||
Net gain (loss) | (158,298,069) | |||
Net increase (decrease) in net assets resulting from operations | $ | (36,996,708) |
Statement of Changes in Net Assets | ||||
Year ended January 31, 2023 | Year ended January 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 121,301,361 | $ | 115,929,176 |
Net realized gain (loss) | 134,542,912 | 384,078,320 | ||
Change in net unrealized appreciation (depreciation) | (292,840,981) | 720,443,956 | ||
Net increase (decrease) in net assets resulting from operations | (36,996,708) | 1,220,451,452 | ||
Distributions to shareholders | (223,483,250) | (364,290,801) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,009,067,447 | 1,026,004,449 | ||
Reinvestment of distributions | 223,483,250 | 364,290,801 | ||
Cost of shares redeemed | (1,275,321,799) | (1,630,942,547) | ||
Net increase (decrease) in net assets resulting from share transactions | (42,771,102) | (240,647,297) | ||
Total increase (decrease) in net assets | (303,251,060) | 615,513,354 | ||
Net Assets | ||||
Beginning of period | 5,959,784,311 | 5,344,270,957 | ||
End of period | $ | 5,656,533,251 | $ | 5,959,784,311 |
Other Information | ||||
Shares | ||||
Sold | 71,082,789 | 67,912,369 | ||
Issued in reinvestment of distributions | 15,931,648 | 23,989,840 | ||
Redeemed | (89,125,886) | (108,015,406) | ||
Net increase (decrease) | (2,111,449) | (16,113,197) | ||
Fidelity® Series Large Cap Value Index Fund |
Years ended January 31, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 15.20 | $ | 13.09 | $ | 12.91 | $ | 12.02 | $ | 13.22 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .32 | .30 | .29 | .33 | .32 | |||||
Net realized and unrealized gain (loss) | (.40) | 2.76 | .23 | 1.46 | (.96) | |||||
Total from investment operations | (.08) | 3.06 | .52 | 1.79 | (.64) | |||||
Distributions from net investment income | (.33) | (.30) | (.29) | (.34) | (.33) | |||||
Distributions from net realized gain | (.28) | (.65) | (.05) | (.57) | (.22) | |||||
Total distributions | (.61) | (.95) | (.34) | (.90) C | (.56) C | |||||
Net asset value, end of period | $ | 14.51 | $ | 15.20 | $ | 13.09 | $ | 12.91 | $ | 12.02 |
Total Return D | (.40)% | 23.41% | 4.14% | 14.94% | (4.73)% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions G | -% | -% | -% | -% | -% | |||||
Expenses net of fee waivers, if any G | -% | -% | -% | -% | -% | |||||
Expenses net of all reductions G | -% | -% | -% | -% | -% | |||||
Net investment income (loss) | 2.21% | 1.93% | 2.49% | 2.58% | 2.52% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 5,656,533 | $ | 5,959,784 | $ | 5,344,271 | $ | 4,036,878 | $ | 3,698,418 |
Portfolio turnover rate H | 24% | 27% | 21% | 31% | 19% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $1,733,757,703 |
Gross unrealized depreciation | (271,219,575) |
Net unrealized appreciation (depreciation) | $1,462,538,128 |
Tax Cost | $4,350,612,660 |
Undistributed ordinary income | $5,386,942 |
Undistributed long-term capital gain | $7,065,042 |
Net unrealized appreciation (depreciation) on securities and other investments | $1,462,538,128 |
January 31, 2023 | January 31, 2022 | |
Ordinary Income | $124,055,936 | $ 229,846,073 |
Long-term Capital Gains | 99,427,314 | 134,444,728 |
Total | $223,483,250 | $ 364,290,801 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Series Large Cap Value Index Fund | 1,330,883,691 | 1,459,625,010 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Series Large Cap Value Index Fund | Borrower | $60,499,615 | .97% | $21,206 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Series Large Cap Value Index Fund | $72,681 | $25,594 | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2022 to January 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2022 | Ending Account Value January 31, 2023 | Expenses Paid During Period- C August 1, 2022 to January 31, 2023 | |||||||
Fidelity® Series Large Cap Value Index Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,046.60 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,025.21 | $- E | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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Contents
Average Annual Total Returns | |||
Periods ended January 31, 2023 | Past 1 year | Life of Fund A |
Fidelity® SAI Tax-Free Bond Fund | -3.55% | 2.20% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® SAI Tax-Free Bond Fund, on October 02, 2018, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
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Top Five States (% of Fund's net assets) | |
New York | 12.5 |
Illinois | 12.4 |
Other | 8.2 |
Texas | 5.4 |
California | 5.0 |
Revenue Sources (% of Fund's net assets) | ||
General Obligations | 24.8% | |
Health Care | 14.8% | |
Transportation | 12.4% | |
Education | 10.8% | |
Special Tax | 9.6% | |
Other* | 8.0% | |
State G.O. | 5.3% | |
Others(Individually Less Than 5%) | 14.3% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
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We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 91.6% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 1.4% | |||
Black Belt Energy Gas District Bonds Series 2022 E, 5%, tender 6/1/28 (b) | 10,000,000 | 10,683,403 | |
Homewood Edl. Bldg. Auth. Rev. Series 2019 A: | |||
4% 12/1/36 | 960,000 | 969,214 | |
4% 12/1/38 | 1,595,000 | 1,597,165 | |
4% 12/1/41 | 1,260,000 | 1,229,377 | |
4% 12/1/44 | 1,125,000 | 1,078,967 | |
4% 12/1/49 | 1,355,000 | 1,265,369 | |
Infirmary Health Systems Spl. Care Facilities Fing. Auth. Rev. Series 2021 A, 3% 2/1/46 | 2,865,000 | 2,165,415 | |
Lower Alabama Gas District Bonds (No. 2 Proj.) Series 2020, 4%, tender 12/1/25 (b) | 7,960,000 | 7,996,030 | |
Mobile Indl. Dev. Board Poll. Cont. Rev. Bonds (Alabama Pwr. Co. Barry Plant Proj.) Series 2008, 2.9%, tender 12/12/23 (b) | 3,745,000 | 3,739,402 | |
Montgomery Med. Clinic Facilities Series 2015: | |||
5% 3/1/25 | 1,310,000 | 1,324,483 | |
5% 3/1/36 | 1,310,000 | 1,262,308 | |
TOTAL ALABAMA | 33,311,133 | ||
Alaska - 0.3% | |||
Alaska Hsg. Fin. Corp. Series 2021 A: | |||
4% 6/1/30 | 1,030,000 | 1,121,280 | |
5% 6/1/27 | 700,000 | 773,184 | |
5% 12/1/27 | 935,000 | 1,043,668 | |
5% 6/1/28 | 1,230,000 | 1,383,522 | |
Alaska Hsg. Fin. Corp. Mtg. Rev. Series 2022 A, 3% 6/1/51 | 670,000 | 659,073 | |
Alaska Int'l. Arpts. Revs. Series 2016 A, 5% 10/1/26 | 1,325,000 | 1,418,293 | |
TOTAL ALASKA | 6,399,020 | ||
Arizona - 1.0% | |||
Arizona Health Facilities Auth. Rev. (Scottsdale Lincoln Hospitals Proj.) Series 2014 A, 5% 12/1/39 | 620,000 | 632,915 | |
Arizona State Univ. Revs. Series 2021 C, 5% 7/1/40 | 1,445,000 | 1,640,419 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.) Series 2005, 2.4%, tender 8/14/23 (b) | 250,000 | 248,985 | |
Maricopa County Indl. Dev. Auth.: | |||
(Creighton Univ. Proj.) Series 2020, 5% 7/1/47 | 560,000 | 599,242 | |
Bonds Series 2019 B, 5%, tender 9/1/24 (b) | 610,000 | 630,009 | |
Maricopa County Indl. Dev. Auth. Sr. Living Facilities: | |||
(Christian Care Mesa II, Inc.) Series 2014 A, 4.5% 1/1/39 (Pre-Refunded to 1/1/24 @ 100) | 420,000 | 427,294 | |
Series 2016: | |||
5.75% 1/1/36 (c) | 910,000 | 721,435 | |
6% 1/1/48 (c) | 1,250,000 | 903,546 | |
Maricopa County Rev.: | |||
Series 2017 D, 3% 1/1/48 | 3,090,000 | 2,433,796 | |
Series 2019 E, 3% 1/1/49 | 1,835,000 | 1,431,388 | |
Maricopa County Spl. Health Care District Gen. Oblig. Series 2018 C, 5% 7/1/36 | 2,150,000 | 2,348,642 | |
Mesa Util. Sys. Rev. Series 2021, 4% 7/1/35 | 3,665,000 | 3,893,277 | |
Phoenix Civic Impt. Board Arpt. Rev. Series 2019 A, 5% 7/1/44 | 1,590,000 | 1,723,036 | |
Phoenix Civic Impt. Corp. Series 2019 A: | |||
5% 7/1/32 | 810,000 | 914,321 | |
5% 7/1/39 | 470,000 | 507,983 | |
5% 7/1/45 | 2,400,000 | 2,555,636 | |
Phoenix IDA Student Hsg. Rev. (Downtown Phoenix Student Hsg. II LLC Arizona State Univ. Proj.) Series 2019 A, 5% 7/1/59 | 1,000,000 | 999,956 | |
Tempe Indl. Dev. Auth. Rev. (Friendship Village of Tempe Proj.) Series 2021 A, 4% 12/1/46 | 2,020,000 | 1,525,756 | |
TOTAL ARIZONA | 24,137,636 | ||
California - 5.0% | |||
Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Bonds Series 2021 A, 2%, tender 4/1/28 (b) | 1,635,000 | 1,547,983 | |
California Edl. Facilities Auth. Rev. Series 2018 A, 5% 10/1/42 | 1,255,000 | 1,333,388 | |
California Gen. Oblig.: | |||
Series 2021: | |||
5% 12/1/35 | 3,630,000 | 4,267,469 | |
5% 12/1/36 | 3,600,000 | 4,189,541 | |
Series 2022, 5% 4/1/42 | 12,055,000 | 13,061,532 | |
California Hsg. Fin. Agcy. Series 2021 1, 3.5% 11/20/35 | 2,111,702 | 2,046,030 | |
California Muni. Fin. Auth. Rev. Series 2017 A: | |||
5% 7/1/42 | 935,000 | 965,420 | |
5.25% 11/1/36 | 480,000 | 489,752 | |
California Muni. Fin. Auth. Student Hsg. (CHF-Davis I, LLC - West Village Student Hsg. Proj.) Series 2018: | |||
5% 5/15/34 | 2,465,000 | 2,600,177 | |
5% 5/15/39 | 1,100,000 | 1,137,864 | |
California Pub. Fin. Auth. Univ. Hsg. Rev.: | |||
(Claremont Colleges Proj.) Series 2017 A, 5% 7/1/27 (c) | 100,000 | 97,610 | |
(NCCD - Claremont Properties LLC - Claremont Colleges Proj.) Series 2017 A, 5% 7/1/47 (c) | 100,000 | 99,044 | |
California Pub. Works Board Lease Rev. (Various Cap. Projs.) Series 2022 C: | |||
5% 8/1/30 | 520,000 | 624,438 | |
5% 8/1/33 | 965,000 | 1,172,940 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2015, 5% 2/1/45 | 750,000 | 627,748 | |
Golden State Tobacco Securitization Corp. Tobacco Settlement Rev. Series 2017 A1, 5% 6/1/28 (Pre-Refunded to 6/1/27 @ 100) | 935,000 | 1,048,284 | |
Long Beach Arpt. Rev.: | |||
Series 2022 A: | |||
5% 6/1/33 | 470,000 | 565,262 | |
5% 6/1/34 | 375,000 | 448,108 | |
5% 6/1/35 | 280,000 | 330,822 | |
5% 6/1/36 | 750,000 | 869,710 | |
5% 6/1/37 | 655,000 | 749,756 | |
5% 6/1/38 | 935,000 | 1,060,401 | |
5% 6/1/39 | 470,000 | 531,353 | |
Series 2022 B: | |||
5% 6/1/33 | 420,000 | 505,128 | |
5% 6/1/34 | 375,000 | 448,108 | |
5% 6/1/35 | 280,000 | 330,822 | |
5% 6/1/36 | 280,000 | 324,692 | |
5% 6/1/37 | 470,000 | 537,993 | |
5% 6/1/38 | 280,000 | 317,553 | |
5% 6/1/39 | 530,000 | 599,185 | |
Los Angeles Dept. Arpt. Rev. Series B, 5% 5/15/45 | 8,425,000 | 9,443,380 | |
Los Angeles Dept. of Wtr. & Pwr. Rev.: | |||
Series 2021 C, 5% 7/1/40 | 3,695,000 | 4,238,811 | |
Series 2022 C: | |||
5% 7/1/38 | 2,350,000 | 2,747,940 | |
5% 7/1/39 | 2,100,000 | 2,440,916 | |
5% 7/1/40 | 10,400,000 | 11,992,478 | |
5% 7/1/41 | 5,000,000 | 5,727,488 | |
Middle Fork Proj. Fin. Auth. Series 2020: | |||
5% 4/1/24 | 2,570,000 | 2,623,052 | |
5% 4/1/25 | 2,700,000 | 2,805,558 | |
5% 4/1/26 | 1,900,000 | 2,012,084 | |
Mount Diablo Unified School District Series 2022 B: | |||
4% 8/1/31 | 785,000 | 884,475 | |
4% 8/1/32 | 1,105,000 | 1,242,669 | |
Sacramento City Unified School District Series 2022 A: | |||
5% 8/1/35 | 1,000,000 | 1,153,926 | |
5% 8/1/39 | 2,090,000 | 2,355,600 | |
5% 8/1/40 | 3,000,000 | 3,370,854 | |
San Diego Assoc. of Governments (Mid-Coast Corridor Transit Proj.) Series 2019 A: | |||
5% 11/15/25 | 1,870,000 | 1,958,676 | |
5% 11/15/26 | 1,870,000 | 2,008,683 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Series 2019 A, 5% 7/1/49 | 2,665,000 | 2,835,568 | |
San Diego County Wtr. Auth. Fing. Agcy. Wtr. Rev. Series 2022 A: | |||
5% 5/1/47 | 2,050,000 | 2,324,653 | |
5% 5/1/52 | 3,480,000 | 3,909,292 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
Series 2019 B, 5% 5/1/49 | 435,000 | 468,191 | |
Series 2022 B, 5% 5/1/52 | 6,820,000 | 7,524,797 | |
Univ. of California Revs. Series 2023 BM, 5% 5/15/36 (d) | 670,000 | 813,636 | |
Washington Township Health Care District Rev.: | |||
Series 2017 A, 5% 7/1/35 | 750,000 | 778,437 | |
Series 2017 B: | |||
5% 7/1/29 | 455,000 | 480,619 | |
5% 7/1/30 | 910,000 | 960,729 | |
TOTAL CALIFORNIA | 120,030,625 | ||
Colorado - 2.9% | |||
Colorado Health Facilities Auth. Rev. Bonds: | |||
Bonds: | |||
Series 2018 B, 5%, tender 11/20/25 (b) | 935,000 | 992,425 | |
Series 2019 B, 5%, tender 8/1/26 (b) | 705,000 | 744,461 | |
Series 2022 C, 5%, tender 8/15/28 (b) | 2,425,000 | 2,736,289 | |
Series 2018 A, 4% 11/15/48 | 900,000 | 862,469 | |
Series 2019 A: | |||
4% 11/1/39 | 845,000 | 846,538 | |
5% 11/1/26 | 1,400,000 | 1,519,754 | |
5% 11/15/39 | 1,170,000 | 1,285,650 | |
Series 2019 A1, 4% 8/1/44 | 13,820,000 | 13,298,021 | |
Series 2019 A2: | |||
3.25% 8/1/49 | 2,195,000 | 1,665,228 | |
4% 8/1/49 | 3,360,000 | 3,159,352 | |
Series 2019 B, 4% 1/1/40 | 1,560,000 | 1,585,724 | |
Series 2020 A, 4% 9/1/50 | 805,000 | 697,317 | |
Series 2022 A, 5% 5/15/47 | 6,000,000 | 6,565,520 | |
Colorado Hsg. & Fin. Auth.: | |||
Series 2019 F, 4.25% 11/1/49 | 275,000 | 280,380 | |
Series 2019 H, 4.25% 11/1/49 | 160,000 | 163,314 | |
Series 2022 F, 5.25% 11/1/52 | 1,805,000 | 1,932,180 | |
Colorado Reg'l. Trans. District Sales Tax Rev. (Fastracks Proj.) Series 2021 B, 5% 11/1/28 | 3,535,000 | 4,069,025 | |
Colorado State Bldg. Excellent Schools Today Ctfs. of Prtn. Series 2018 N: | |||
5% 3/15/37 | 1,870,000 | 2,028,554 | |
5% 3/15/38 | 1,870,000 | 2,018,882 | |
Denver City & County Board Wtr. Rev. Series 2020 A: | |||
5% 9/15/45 | 5,070,000 | 5,664,849 | |
5% 9/15/46 | 7,770,000 | 8,665,209 | |
Univ. of Colorado Enterprise Sys. Rev. Bonds: | |||
Series 2019 C, 2%, tender 10/15/24 (b) | 6,295,000 | 6,199,288 | |
Series 2021 C3A, 2%, tender 10/15/25 (b) | 830,000 | 813,276 | |
Series 2021 C3B, 2%, tender 10/15/26 (b) | 700,000 | 681,633 | |
Vauxmont Metropolitan District: | |||
Series 2019, 5% 12/15/26 (Assured Guaranty Muni. Corp. Insured) | 126,000 | 135,779 | |
Series 2020, 5% 12/1/50 (Assured Guaranty Muni. Corp. Insured) | 1,404,000 | 1,466,783 | |
TOTAL COLORADO | 70,077,900 | ||
Connecticut - 3.5% | |||
Bridgeport Gen. Oblig. Series 2019 A: | |||
5% 2/1/23 (Build America Mutual Assurance Insured) | 590,000 | 590,000 | |
5% 2/1/25 (Build America Mutual Assurance Insured) | 625,000 | 655,551 | |
Connecticut Gen. Oblig.: | |||
Series 2015 B, 5% 6/15/32 | 250,000 | 264,695 | |
Series 2016 B: | |||
5% 5/15/25 | 935,000 | 990,872 | |
5% 5/15/26 | 510,000 | 554,895 | |
Series 2017 A, 5% 4/15/33 | 230,000 | 253,104 | |
Series 2018 A, 5% 4/15/38 | 935,000 | 1,013,800 | |
Series 2019 A, 5% 4/15/26 | 615,000 | 667,784 | |
Series 2020 A: | |||
4% 1/15/34 | 2,105,000 | 2,281,901 | |
5% 1/15/40 | 1,870,000 | 2,050,598 | |
Series 2021 A: | |||
3% 1/15/39 | 785,000 | 708,161 | |
3% 1/15/40 | 950,000 | 839,652 | |
Series 2022 B, 4% 1/15/37 | 9,400,000 | 9,863,512 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
(Sacred Heart Univ., CT. Proj.) Series 2017 I-1, 5% 7/1/42 | 3,120,000 | 3,258,579 | |
Bonds: | |||
Series 2017 C2, 2.8%, tender 2/3/26 (b)(d) | 8,750,000 | 8,740,158 | |
Series 2020 B: | |||
5%, tender 1/1/25 (b) | 2,250,000 | 2,345,273 | |
5%, tender 1/1/27 (b) | 1,665,000 | 1,794,987 | |
Series 2019 A: | |||
4% 7/1/49 | 1,635,000 | 1,442,579 | |
5% 7/1/27 (c) | 555,000 | 553,251 | |
5% 7/1/34 (c) | 685,000 | 670,924 | |
Series 2019 Q-1: | |||
5% 11/1/24 | 430,000 | 448,948 | |
5% 11/1/26 | 470,000 | 515,314 | |
Series 2020 K: | |||
4% 7/1/45 | 2,680,000 | 2,618,278 | |
5% 7/1/40 | 985,000 | 1,064,892 | |
Series 2021 G: | |||
4% 3/1/46 | 865,000 | 858,148 | |
4% 3/1/51 | 1,390,000 | 1,363,140 | |
Series 2021 S, 4% 6/1/51 | 855,000 | 807,382 | |
Series 2022 M: | |||
4% 7/1/39 | 1,040,000 | 1,038,958 | |
4% 7/1/40 | 1,075,000 | 1,064,744 | |
4% 7/1/52 | 5,490,000 | 5,277,417 | |
5% 7/1/32 | 1,485,000 | 1,700,434 | |
Series A, 5% 7/1/26 | 935,000 | 966,133 | |
Series K1: | |||
5% 7/1/32 | 985,000 | 1,018,796 | |
5% 7/1/33 | 765,000 | 789,835 | |
5% 7/1/35 | 1,030,000 | 1,052,360 | |
Series K3, 5% 7/1/43 | 330,000 | 328,169 | |
Series R: | |||
4% 7/1/36 | 935,000 | 945,889 | |
5% 6/1/32 | 515,000 | 593,315 | |
5% 6/1/33 | 350,000 | 400,811 | |
5% 6/1/34 | 540,000 | 615,159 | |
5% 6/1/35 | 815,000 | 917,070 | |
Connecticut Hsg. Fin. Auth. Series 2021 B1, 3% 11/15/49 | 1,370,000 | 1,348,949 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2020 A, 5% 5/1/40 | 8,000,000 | 8,948,169 | |
Series A, 5% 9/1/33 | 4,680,000 | 4,863,076 | |
Stratford Gen. Oblig. Series 2019, 5% 1/1/28 | 3,640,000 | 3,973,882 | |
Univ. of Connecticut Gen. Oblig. Series 2019 A, 5% 11/1/25 | 465,000 | 498,827 | |
TOTAL CONNECTICUT | 83,558,371 | ||
District Of Columbia - 1.4% | |||
District of Columbia Gen. Oblig. Series 2017 D, 5% 6/1/42 | 470,000 | 505,034 | |
District of Columbia Rev. Series 2018: | |||
5% 10/1/23 | 330,000 | 335,099 | |
5% 10/1/25 | 465,000 | 490,535 | |
5% 10/1/26 | 775,000 | 832,821 | |
5% 10/1/27 | 845,000 | 924,695 | |
5% 10/1/43 | 2,880,000 | 2,994,389 | |
District of Columbia Wtr. & Swr. Auth. Pub. Util. Rev. Bonds Series 2019 C, 1.75%, tender 10/1/24 (b) | 3,020,000 | 2,942,187 | |
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev.: | |||
(Dulles Metrorail and Cap. Impt. Projs.): | |||
Series 2019 A: | |||
5% 10/1/38 | 1,405,000 | 1,514,134 | |
5% 10/1/44 | 7,485,000 | 7,957,981 | |
Series 2019 B: | |||
3% 10/1/50 (Assured Guaranty Muni. Corp. Insured) | 6,425,000 | 4,957,894 | |
5% 10/1/47 | 7,020,000 | 7,390,653 | |
Series 2009 B, 0% 10/1/32 (Assured Guaranty Corp. Insured) | 1,665,000 | 1,210,924 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev. Series 2019 B, 5% 10/1/25 | 1,500,000 | 1,606,702 | |
TOTAL DISTRICT OF COLUMBIA | 33,663,048 | ||
Florida - 3.5% | |||
Atlantic Beach Health Care Facilities Series A, 5% 11/15/43 | 790,000 | 775,914 | |
Broward County School Board Ctfs. of Prtn. Series 2016, 5% 7/1/26 | 1,375,000 | 1,497,386 | |
Cap. Projs. Fin. Auth. Student Hsg. Rev. (Cap. Projs. Ln. Prog. - Florida Univs.) Series 2020 A, 5% 10/1/30 | 750,000 | 776,002 | |
Central Florida Expressway Auth. Sr. Lien Rev.: | |||
Orlando & Orange County Expressway Auth. Rev. Series 2017, 5% 7/1/39 | 1,870,000 | 1,998,886 | |
Series 2021: | |||
4% 7/1/38 (Assured Guaranty Muni. Corp. Insured) | 1,065,000 | 1,105,979 | |
4% 7/1/39 (Assured Guaranty Muni. Corp. Insured) | 930,000 | 958,131 | |
5% 7/1/32 (Assured Guaranty Muni. Corp. Insured) | 2,810,000 | 3,379,607 | |
5% 7/1/33 (Assured Guaranty Muni. Corp. Insured) | 2,490,000 | 2,984,672 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Series 2020 A: | |||
3% 8/15/50 (Assured Guaranty Muni. Corp. Insured) | 1,805,000 | 1,370,219 | |
4% 8/15/45 | 765,000 | 726,905 | |
Florida Higher Edl. Facilities Fing. Auth.: | |||
(St. Leo Univ. Proj.) Series 2019: | |||
5% 3/1/23 | 375,000 | 375,233 | |
5% 3/1/24 | 235,000 | 236,686 | |
5% 3/1/25 | 625,000 | 632,231 | |
Series 2019, 5% 10/1/23 | 235,000 | 237,543 | |
Florida Hsg. Fin. Corp. Rev. Series 2019 1, 4% 7/1/50 | 6,460,000 | 6,541,129 | |
Florida Mid-Bay Bridge Auth. Rev. Series 2015 A: | |||
5% 10/1/29 | 2,315,000 | 2,411,898 | |
5% 10/1/35 | 935,000 | 964,421 | |
Hillsborough County Aviation Auth. Rev. Series 2018 F: | |||
5% 10/1/37 | 1,415,000 | 1,560,154 | |
5% 10/1/43 | 1,870,000 | 2,013,546 | |
Hillsborough County School Board Ctfs. of Prtn. Series 2020 A, 5% 7/1/27 | 4,680,000 | 5,174,343 | |
Jacksonville Spl. Rev. Series 2022 A: | |||
5% 10/1/23 | 205,000 | 208,345 | |
5% 10/1/24 | 465,000 | 484,325 | |
5% 10/1/25 | 360,000 | 384,740 | |
5% 10/1/26 | 255,000 | 278,954 | |
5% 10/1/27 | 205,000 | 229,374 | |
5% 10/1/28 | 405,000 | 462,812 | |
5% 10/1/29 | 350,000 | 407,763 | |
5% 10/1/30 | 330,000 | 391,699 | |
5% 10/1/32 | 305,000 | 373,837 | |
Lee County School Board Ctfs. Series 2019 A: | |||
5% 8/1/27 | 3,750,000 | 4,136,620 | |
5% 8/1/28 | 1,890,000 | 2,116,229 | |
Lee Memorial Health Sys. Hosp. Rev. Series 2019 A1: | |||
5% 4/1/26 | 935,000 | 1,001,252 | |
5% 4/1/44 | 3,030,000 | 3,163,574 | |
Manatee County School District Series 2017, 5% 10/1/28 (Assured Guaranty Muni. Corp. Insured) | 2,340,000 | 2,569,198 | |
Miami-Dade County Aviation Rev. Series 2020 A, 4% 10/1/37 | 1,870,000 | 1,897,650 | |
Miami-Dade County School Board Ctfs. of Prtn. Series 2015 B, 5% 5/1/28 | 1,605,000 | 1,690,103 | |
Miami-Dade County School District Series 2015, 5% 3/15/26 | 1,445,000 | 1,518,746 | |
Miami-Dade County Wtr. & Swr. Rev. Series 2019 B, 4% 10/1/49 | 3,745,000 | 3,646,072 | |
Orange County Health Facilities Auth. Series 2022, 4% 10/1/52 | 1,365,000 | 1,285,494 | |
Orange County School Board Ctfs. of Prtn. Series 2015 D, 5% 8/1/30 (Pre-Refunded to 8/1/25 @ 100) | 820,000 | 873,142 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. (Jupiter Med. Ctr. Proj.) Series 2022, 5% 11/1/52 | 2,850,000 | 2,933,757 | |
Pasco County School Board Ctfs. of Prtn. Series 2018 A, 5% 8/1/35 (Build America Mutual Assurance Insured) | 1,870,000 | 2,086,657 | |
Pinellas County Hsg. Fin. Auth. Bonds Series 2021 B, 0.65%, tender 7/1/24 (b) | 1,165,000 | 1,112,862 | |
South Miami Health Facilities Auth. Hosp. Rev. (Baptist Med. Ctr., FL. Proj.) Series 2017, 5% 8/15/28 | 1,450,000 | 1,596,920 | |
St. Johns County School Board (School Board of St. Johns County, Florida Master Lease Prog.) Series 2019 A: | |||
5% 7/1/24 | 750,000 | 777,308 | |
5% 7/1/25 | 1,360,000 | 1,441,616 | |
Tallahassee Health Facilities Rev.: | |||
(Tallahassee Memorial Healthcare, Inc. Proj.) Series 2016 A, 5% 12/1/55 | 955,000 | 967,516 | |
Series 2015 A, 5% 12/1/40 | 1,570,000 | 1,595,188 | |
Tampa Hosp. Rev. (H. Lee Moffitt Cancer Ctr. Proj.): | |||
Series 2016 B, 5% 7/1/37 | 900,000 | 934,551 | |
Series 2020 B: | |||
4% 7/1/45 | 2,810,000 | 2,721,365 | |
5% 7/1/40 | 655,000 | 692,473 | |
Tampa Tax Allocation (H. Lee Moffitt Cancer Ctr. Proj.) Series 2020 A: | |||
0% 9/1/38 | 935,000 | 500,893 | |
0% 9/1/39 | 795,000 | 401,805 | |
0% 9/1/40 | 935,000 | 444,337 | |
0% 9/1/41 | 935,000 | 416,681 | |
0% 9/1/42 | 935,000 | 390,129 | |
0% 9/1/45 | 1,730,000 | 598,188 | |
Volusia County Edl. Facilities Auth. Rev. (Embry-Riddle Aeronautical Univ., Inc. Proj.) Series 2020 A: | |||
5% 10/15/44 | 230,000 | 244,501 | |
5% 10/15/49 | 425,000 | 449,408 | |
TOTAL FLORIDA | 83,146,969 | ||
Georgia - 4.9% | |||
Brookhaven Dev. Auth. Rev. Series 2019 A, 5% 7/1/36 | 935,000 | 1,045,610 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev.: | |||
(Georgia Transmission Corp. Proj.) Series 2012, 2.75% 1/1/52 (b) | 2,230,000 | 1,562,038 | |
Bonds (Georgia Pwr. Co. Plant Vogtle Proj.): | |||
Series 1994: | |||
2.15%, tender 6/13/24 (b) | 5,950,000 | 5,830,732 | |
2.25%, tender 5/25/23 (b) | 1,720,000 | 1,716,572 | |
Series 2013 1st, 2.925%, tender 3/12/24 (b) | 2,170,000 | 2,152,277 | |
Coweta County Dev. Auth. Rev. (Piedmont Healthcare, Inc. Proj.) Series 2019 A, 5% 7/1/44 | 4,680,000 | 4,926,000 | |
Fayette County Hosp. Auth. Rev. Bonds (Piedmont Healthcare, Inc. Proj.) Series 2019 A, 5%, tender 7/1/24 (b) | 750,000 | 764,065 | |
Fulton County Dev. Auth. Rev.: | |||
Series 2019 C, 5% 7/1/28 | 1,265,000 | 1,440,985 | |
Series 2019, 4% 6/15/49 | 180,000 | 178,261 | |
Gainesville & Hall County Hosp. Auth. Rev. Series 2020 A, 3% 2/15/47 | 6,980,000 | 5,503,203 | |
Georgia Muni. Elec. Auth. Pwr. Rev. Series 2019 A: | |||
4% 1/1/49 | 1,735,000 | 1,650,648 | |
5% 1/1/26 | 1,145,000 | 1,217,557 | |
5% 1/1/30 | 385,000 | 430,685 | |
5% 1/1/39 | 1,135,000 | 1,202,909 | |
5% 1/1/44 | 1,490,000 | 1,549,403 | |
Hosp. Auth. of Savannah Auth. Rev. Series 2019 A: | |||
4% 7/1/36 | 1,385,000 | 1,406,052 | |
4% 7/1/43 | 1,445,000 | 1,420,491 | |
Main Street Natural Gas, Inc. Bonds: | |||
Series 2019 B, 4%, tender 12/2/24 (b) | 2,470,000 | 2,486,241 | |
Series 2021 A, 4%, tender 9/1/27 (b) | 37,435,000 | 38,154,516 | |
Series 2022 B, 5%, tender 6/1/29 (b) | 5,210,000 | 5,506,516 | |
Series 2022 E, 4%, tender 12/1/29 (b) | 12,405,000 | 12,425,661 | |
Series 2023 A, 5%, tender 6/1/30 (b)(d) | 13,445,000 | 14,270,050 | |
Monroe County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Scherer Proj.) Series 1995, 2.25% 7/1/25 | 1,040,000 | 1,002,800 | |
Paulding County Hosp. Auth. Rev. Series 2022 A: | |||
5% 4/1/26 | 200,000 | 214,109 | |
5% 4/1/27 | 165,000 | 179,897 | |
5% 4/1/28 | 375,000 | 415,658 | |
5% 4/1/29 | 325,000 | 365,347 | |
5% 4/1/30 | 235,000 | 267,356 | |
5% 4/1/31 | 280,000 | 322,077 | |
5% 4/1/32 | 185,000 | 215,374 | |
Private Colleges & Univs. Auth. Rev.: | |||
(The Savannah College of Art & Design Projs.) Series 2021: | |||
4% 4/1/38 | 815,000 | 824,238 | |
5% 4/1/27 | 375,000 | 407,468 | |
5% 4/1/31 | 560,000 | 646,794 | |
5% 4/1/36 | 450,000 | 498,953 | |
Series 2020 B: | |||
4% 9/1/38 | 2,810,000 | 2,899,813 | |
4% 9/1/39 | 1,370,000 | 1,410,746 | |
5% 9/1/31 | 1,295,000 | 1,543,236 | |
Series A: | |||
5% 6/1/23 | 395,000 | 398,029 | |
5% 6/1/24 | 650,000 | 669,457 | |
TOTAL GEORGIA | 119,121,824 | ||
Hawaii - 0.2% | |||
Hawaii Gen. Oblig.: | |||
Series 2020 C, 4% 7/1/40 | 870,000 | 882,145 | |
Series FG, 5% 10/1/27 | 935,000 | 1,027,324 | |
Honolulu City & County Gen. Oblig.: | |||
Series 2018 A, 5% 9/1/41 | 1,870,000 | 2,056,027 | |
Series 2019 A, 5% 9/1/24 | 715,000 | 744,772 | |
Honolulu City and County Wastewtr. Sys. Series 2015 A, 5% 7/1/40 (Pre-Refunded to 7/1/25 @ 100) | 830,000 | 880,814 | |
TOTAL HAWAII | 5,591,082 | ||
Idaho - 0.3% | |||
Idaho Hsg. & Fin. Assoc. Single Family Mtg.: | |||
Series 2019 A, 4% 1/1/50 | 75,000 | 76,064 | |
Series 2021 A: | |||
5% 7/15/29 | 2,810,000 | 3,244,547 | |
5% 7/15/30 | 935,000 | 1,095,708 | |
5% 7/15/31 | 600,000 | 714,966 | |
5% 7/15/32 | 1,170,000 | 1,386,318 | |
TOTAL IDAHO | 6,517,603 | ||
Illinois - 12.4% | |||
Champaign County Cmnty. Unit: | |||
Series 2019: | |||
4% 6/1/26 | 95,000 | 100,033 | |
4% 6/1/27 | 775,000 | 825,830 | |
4% 6/1/28 | 585,000 | 632,210 | |
4% 6/1/29 | 1,450,000 | 1,586,859 | |
4% 6/1/30 | 935,000 | 1,020,001 | |
4% 6/1/31 | 1,170,000 | 1,272,689 | |
4% 6/1/34 | 935,000 | 1,001,334 | |
4% 6/1/35 | 1,205,000 | 1,280,856 | |
4% 6/1/36 | 1,475,000 | 1,544,660 | |
Series 2020 A: | |||
5% 1/1/29 | 630,000 | 708,940 | |
5% 1/1/30 | 585,000 | 655,444 | |
5% 1/1/31 | 795,000 | 888,557 | |
5% 1/1/33 | 1,545,000 | 1,717,805 | |
Chicago Board of Ed.: | |||
Series 2012 A, 5% 12/1/42 | 50,000 | 49,897 | |
Series 2015 C: | |||
5.25% 12/1/35 | 1,870,000 | 1,881,357 | |
5.25% 12/1/39 | 40,000 | 40,191 | |
Series 2016 A, 7% 12/1/44 | 2,995,000 | 3,192,795 | |
Series 2017 C, 5% 12/1/25 | 290,000 | 299,162 | |
Series 2017 D, 5% 12/1/31 | 865,000 | 897,394 | |
Series 2017 H, 5% 12/1/36 | 650,000 | 662,980 | |
Series 2018 A, 5% 12/1/27 | 185,000 | 193,788 | |
Series 2018 C: | |||
5% 12/1/24 | 100,000 | 102,240 | |
5% 12/1/25 | 505,000 | 520,955 | |
5% 12/1/27 | 505,000 | 528,990 | |
5% 12/1/46 | 4,695,000 | 4,676,794 | |
Series 2019 A: | |||
5% 12/1/23 | 2,010,000 | 2,030,748 | |
5% 12/1/28 | 240,000 | 253,253 | |
5% 12/1/29 | 750,000 | 796,703 | |
5% 12/1/30 | 575,000 | 605,420 | |
5% 12/1/31 | 600,000 | 631,050 | |
Series 2021 A, 5% 12/1/38 | 1,200,000 | 1,232,614 | |
Series 2021 B, 5% 12/1/31 | 1,250,000 | 1,330,638 | |
Series 2022 A, 5% 12/1/47 | 2,085,000 | 2,096,922 | |
Series 2022 B: | |||
4% 12/1/35 | 1,760,000 | 1,674,746 | |
4% 12/1/36 | 2,915,000 | 2,749,065 | |
Chicago Gen. Oblig.: | |||
Series 2003 B, 5.5% 1/1/30 | 1,685,000 | 1,733,568 | |
Series 2019 A: | |||
5% 1/1/28 | 1,250,000 | 1,319,339 | |
5% 1/1/40 | 2,200,000 | 2,229,098 | |
Series 2020 A: | |||
5% 1/1/26 | 1,955,000 | 2,023,947 | |
5% 1/1/27 | 1,425,000 | 1,490,167 | |
5% 1/1/30 | 1,860,000 | 1,996,421 | |
5% 1/1/32 | 1,215,000 | 1,298,403 | |
Series 2021 A: | |||
5% 1/1/31 | 1,400,000 | 1,513,223 | |
5% 1/1/32 | 4,485,000 | 4,828,050 | |
5% 1/1/34 | 795,000 | 850,667 | |
Series 2021 B: | |||
4% 1/1/32 | 1,193,000 | 1,191,356 | |
4% 1/1/38 | 2,890,000 | 2,711,920 | |
Chicago Midway Arpt. Rev. Series 2013 B, 5% 1/1/25 | 580,000 | 581,081 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2015 B, 5% 1/1/32 | 935,000 | 976,008 | |
Series 2018 B: | |||
4% 1/1/44 | 1,990,000 | 1,973,155 | |
5% 1/1/36 | 2,105,000 | 2,322,022 | |
5% 1/1/37 | 3,040,000 | 3,328,220 | |
5% 1/1/48 | 9,830,000 | 10,370,386 | |
5% 1/1/53 | 360,000 | 378,213 | |
Series 2020 A: | |||
4% 1/1/37 | 3,105,000 | 3,184,998 | |
4% 1/1/38 | 655,000 | 662,231 | |
Series 2022 D: | |||
5% 1/1/36 | 2,000,000 | 2,297,409 | |
5% 1/1/37 | 2,400,000 | 2,727,547 | |
Cook County Cmnty. Consolidated School District No. 59 Series 2020: | |||
4% 3/1/24 | 840,000 | 854,306 | |
5% 3/1/25 | 795,000 | 838,250 | |
5% 3/1/26 | 1,155,000 | 1,251,487 | |
5% 3/1/27 | 1,165,000 | 1,295,306 | |
5% 3/1/28 | 1,265,000 | 1,436,114 | |
Cook County Gen. Oblig.: | |||
Series 2021 A: | |||
5% 11/15/31 | 3,415,000 | 3,949,831 | |
5% 11/15/32 | 2,245,000 | 2,588,710 | |
5% 11/15/33 | 2,200,000 | 2,522,773 | |
Series 2021 B: | |||
4% 11/15/25 | 580,000 | 602,993 | |
4% 11/15/26 | 295,000 | 311,181 | |
4% 11/15/27 | 300,000 | 319,547 | |
4% 11/15/28 | 150,000 | 161,113 | |
Series 2022 A, 5% 11/15/29 | 940,000 | 1,071,618 | |
Cook County Sales Tax Rev. Series 2022 A, 5% 11/15/42 | 10,000,000 | 10,900,654 | |
DuPage & Cook Counties Cmnty. Unit School District #205 Series 2022, 4% 9/15/42 | 7,900,000 | 8,010,061 | |
Illinois Fin. Auth.: | |||
(Bradley Univ. Proj.) Series 2021 A, 4% 8/1/38 | 1,125,000 | 1,054,776 | |
Bonds Series 2022 B1, 5%, tender 8/15/25 (b) | 6,035,000 | 6,344,573 | |
Series 2020 A: | |||
3% 5/15/50 | 5,655,000 | 4,112,971 | |
3% 5/15/50 (Build America Mutual Assurance Insured) | 2,620,000 | 1,984,664 | |
3.25% 8/15/49 | 1,025,000 | 830,114 | |
Series 2022 A: | |||
5.25% 10/1/52 | 4,525,000 | 4,430,610 | |
5.5% 10/1/47 | 1,010,000 | 1,026,117 | |
Illinois Fin. Auth. Academic Facilities (Provident Group UIUC Properties LLC Univ. of Illinois at Urbana-Champaign Proj.) Series 2019 A: | |||
5% 10/1/27 | 225,000 | 247,668 | |
5% 10/1/28 | 185,000 | 207,335 | |
5% 10/1/44 | 935,000 | 982,458 | |
5% 10/1/49 | 1,170,000 | 1,222,243 | |
5% 10/1/51 | 935,000 | 974,539 | |
Illinois Fin. Auth. Rev.: | |||
(Bradley Univ. Proj.) Series 2017 C, 5% 8/1/31 | 200,000 | 210,980 | |
(Northwestern Memorial Hosp.,IL. Proj.) Series 2017 A, 5% 7/15/25 | 280,000 | 296,691 | |
(OSF Healthcare Sys.) Series 2018 A: | |||
4.125% 5/15/47 | 4,820,000 | 4,632,956 | |
5% 5/15/43 | 45,000 | 46,401 | |
(Presence Health Proj.) Series 2016 C, 5% 2/15/36 | 935,000 | 987,085 | |
Series 2015 A: | |||
4.125% 11/15/37 | 635,000 | 641,662 | |
5% 11/15/45 | 9,360,000 | 9,441,898 | |
Series 2016 A: | |||
3% 10/1/37 | 1,455,000 | 1,256,250 | |
5% 2/15/24 | 795,000 | 814,243 | |
5% 8/15/25 | 1,100,000 | 1,166,350 | |
Series 2016 C, 5% 2/15/31 | 2,340,000 | 2,555,265 | |
Series 2016: | |||
4% 12/1/35 | 335,000 | 337,535 | |
5% 12/1/40 | 2,010,000 | 2,057,695 | |
5% 12/1/46 | 11,605,000 | 11,743,120 | |
Series 2018 A, 5% 10/1/41 | 2,810,000 | 3,040,386 | |
Series 2019, 4% 9/1/35 | 420,000 | 379,969 | |
Illinois Gen. Oblig.: | |||
Series 2006, 5.5% 1/1/28 | 4,680,000 | 5,156,673 | |
Series 2014, 5% 2/1/26 | 515,000 | 524,909 | |
Series 2016: | |||
4% 2/1/30 (Assured Guaranty Muni. Corp. Insured) | 2,590,000 | 2,693,939 | |
5% 2/1/26 | 4,930,000 | 5,206,755 | |
5% 2/1/27 | 575,000 | 614,968 | |
Series 2017 C, 5% 11/1/29 | 2,440,000 | 2,605,908 | |
Series 2017 D: | |||
5% 11/1/25 | 1,110,000 | 1,168,143 | |
5% 11/1/27 | 2,835,000 | 3,055,178 | |
Series 2018 A: | |||
5% 10/1/24 | 470,000 | 486,035 | |
5% 10/1/28 | 935,000 | 1,015,265 | |
5% 10/1/29 | 1,495,000 | 1,615,135 | |
Series 2018 B, 5% 10/1/26 | 935,000 | 996,055 | |
Series 2019 B, 5% 9/1/24 | 470,000 | 485,307 | |
Series 2020 B: | |||
4% 10/1/32 | 2,570,000 | 2,630,111 | |
5% 10/1/28 | 4,060,000 | 4,408,531 | |
Series 2020, 5.5% 5/1/39 | 5,925,000 | 6,432,855 | |
Series 2021 A: | |||
5% 3/1/28 | 4,000,000 | 4,323,516 | |
5% 3/1/32 | 180,000 | 197,398 | |
5% 3/1/33 | 935,000 | 1,020,959 | |
5% 3/1/34 | 935,000 | 1,015,705 | |
5% 3/1/46 | 1,870,000 | 1,922,478 | |
Series 2021 B, 4% 12/1/34 | 1,655,000 | 1,668,676 | |
Series 2022 A: | |||
5% 3/1/29 | 2,060,000 | 2,243,299 | |
5% 3/1/32 | 1,000,000 | 1,106,793 | |
5% 3/1/34 | 3,640,000 | 3,986,924 | |
5.25% 3/1/37 | 1,600,000 | 1,743,019 | |
Series 2022 B, 5% 3/1/32 | 2,060,000 | 2,279,959 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev.: | |||
Series 2019 A, 5% 1/1/44 | 460,000 | 497,117 | |
Series A: | |||
5% 1/1/38 | 945,000 | 1,057,714 | |
5% 1/1/41 | 205,000 | 225,383 | |
Kane & DeKalb Counties Cmnty. Unit School District #302 Series 2018, 5% 2/1/26 | 1,880,000 | 2,019,857 | |
Kane County School District No. 131 Series 2020 A: | |||
4% 12/1/30 (Assured Guaranty Muni. Corp. Insured) | 430,000 | 467,502 | |
4% 12/1/31 (Assured Guaranty Muni. Corp. Insured) | 575,000 | 624,126 | |
4% 12/1/33 (Assured Guaranty Muni. Corp. Insured) | 240,000 | 257,276 | |
4% 12/1/35 (Assured Guaranty Muni. Corp. Insured) | 255,000 | 267,303 | |
4% 12/1/36 (Assured Guaranty Muni. Corp. Insured) | 235,000 | 243,400 | |
4% 12/1/38 (Assured Guaranty Muni. Corp. Insured) | 545,000 | 557,077 | |
Metropolitan Pier & Exposition: | |||
(McCormick Place Expansion Proj.) Series 2010 B1: | |||
0% 6/15/43 (Assured Guaranty Muni. Corp. Insured) | 2,995,000 | 1,194,624 | |
0% 6/15/46 (Assured Guaranty Muni. Corp. Insured) | 7,485,000 | 2,545,871 | |
0% 6/15/47 (Assured Guaranty Muni. Corp. Insured) | 2,365,000 | 763,099 | |
Series 2002 A, 0% 6/15/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 750,000 | 448,235 | |
Series 2002, 0% 12/15/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 7,050,000 | 3,859,345 | |
Series 2010 B1, 0% 6/15/26 (Assured Guaranty Muni. Corp. Insured) | 1,055,000 | 949,058 | |
Series 2017 A, 5% 6/15/57 | 6,200,000 | 6,231,516 | |
Series 2020 A: | |||
4% 6/15/50 | 8,380,000 | 7,468,888 | |
5% 6/15/50 | 6,840,000 | 6,942,586 | |
Series 2020 B, 5% 6/15/42 | 2,520,000 | 2,598,510 | |
Series 2022 A: | |||
0% 12/15/35 | 730,000 | 410,074 | |
0% 12/15/36 | 970,000 | 513,995 | |
0% 12/15/37 | 1,175,000 | 589,019 | |
0% 6/15/40 | 985,000 | 427,998 | |
0% 6/15/41 | 1,355,000 | 551,144 | |
Northern Illinois Univ. Revs. Series 2020 B: | |||
4% 4/1/36 (Build America Mutual Assurance Insured) | 1,215,000 | 1,229,421 | |
4% 4/1/38 (Build America Mutual Assurance Insured) | 1,215,000 | 1,212,705 | |
4% 4/1/40 (Build America Mutual Assurance Insured) | 815,000 | 795,478 | |
Railsplitter Tobacco Settlement Auth. Rev. Series 2017, 5% 6/1/27 | 1,125,000 | 1,213,539 | |
Univ. of Illinois Board of Trustees Ctfs. of Prtn. Series 2014 C, 5% 3/15/23 | 200,000 | 200,513 | |
Univ. of Illinois Rev. Series 2018 A, 5% 4/1/29 | 95,000 | 105,982 | |
TOTAL ILLINOIS | 297,883,695 | ||
Indiana - 0.3% | |||
Indiana Fin. Auth. Health Sys. Rev. Bonds Series 2019 B, 2.25%, tender 7/1/25 (b) | 545,000 | 536,176 | |
Indiana Health Facility Fing. Auth. Rev. Bonds Series 2001 A2, 2%, tender 2/1/23 (b) | 320,000 | 320,000 | |
Indiana Hsg. & Cmnty. Dev. Auth.: | |||
(Glasswater Creek of Whitestown Proj.) Series 2020, 5.375% 10/1/40 (c) | 695,000 | 580,211 | |
Series 2019 B, 3.5% 1/1/49 | 465,000 | 465,132 | |
Series 2021 C1, 3% 1/1/52 | 530,000 | 520,542 | |
Series A: | |||
3.75% 1/1/49 | 2,330,000 | 2,347,232 | |
5% 1/1/28 | 305,000 | 341,794 | |
5% 7/1/28 | 305,000 | 345,270 | |
5% 1/1/29 | 305,000 | 345,971 | |
5% 7/1/29 | 255,000 | 290,969 | |
Saint Joseph County Econ. Dev. Auth. Rev. (St. Mary's College Proj.): | |||
Series 2019, 5% 4/1/43 | 1,455,000 | 1,536,380 | |
Series 2020, 5% 4/1/32 | 715,000 | 797,453 | |
TOTAL INDIANA | 8,427,130 | ||
Iowa - 0.6% | |||
Iowa Fin. Auth. Rev.: | |||
Series 2018 B, 5% 2/15/48 | 935,000 | 976,126 | |
Series 2019 A1, 5% 5/15/55 | 3,635,000 | 3,016,009 | |
Series A, 5% 5/15/48 | 2,505,000 | 2,140,460 | |
Iowa Higher Ed. Ln. Auth. Rev. (Grinnell College Proj.) Series 2017, 5% 12/1/46 | 5,545,000 | 5,914,803 | |
Tobacco Settlement Auth. Tobacco Settlement Rev.: | |||
Series 2021 A2, 4% 6/1/49 | 1,125,000 | 1,025,716 | |
Series 2021 B1, 4% 6/1/49 | 1,370,000 | 1,369,939 | |
TOTAL IOWA | 14,443,053 | ||
Kentucky - 2.6% | |||
Ashland Med. Ctr. Rev. Series 2019: | |||
3% 2/1/40 (Assured Guaranty Muni. Corp. Insured) | 1,350,000 | 1,132,519 | |
4% 2/1/36 | 710,000 | 700,540 | |
4% 2/1/37 | 540,000 | 526,252 | |
5% 2/1/24 | 1,105,000 | 1,126,559 | |
5% 2/1/25 | 885,000 | 914,259 | |
Boyle County Edl. Facilities Rev. Series 2017, 5% 6/1/37 | 300,000 | 316,390 | |
Carroll County Poll. Ctlr Rev. Bonds (Kentucky Utils. Co. Proj.) Series 2016 A, 1.55%, tender 9/1/26 (b) | 6,250,000 | 5,801,410 | |
Kenton County Arpt. Board Arpt. Rev. Series 2019: | |||
5% 1/1/38 | 685,000 | 754,957 | |
5% 1/1/39 | 645,000 | 706,790 | |
5% 1/1/49 | 2,340,000 | 2,492,092 | |
Kentucky Econ. Dev. Fin. Auth. Series 2019 A2, 5% 8/1/49 | 3,180,000 | 3,275,353 | |
Kentucky State Property & Buildings Commission Rev.: | |||
(Proj. No. 112) Series 2016 B, 5% 11/1/27 | 1,025,000 | 1,114,589 | |
(Proj. No. 119) Series 2018: | |||
5% 5/1/28 | 935,000 | 1,047,573 | |
5% 5/1/38 | 3,745,000 | 4,010,772 | |
Series 2017: | |||
5% 4/1/25 | 3,205,000 | 3,373,646 | |
5% 4/1/26 | 3,245,000 | 3,501,582 | |
Series A: | |||
4% 11/1/34 | 1,170,000 | 1,234,361 | |
4% 11/1/35 | 375,000 | 390,024 | |
4% 11/1/36 | 935,000 | 963,749 | |
4% 11/1/37 | 1,170,000 | 1,194,967 | |
5% 8/1/27 | 375,000 | 397,146 | |
5% 11/1/29 | 1,035,000 | 1,169,456 | |
Series B: | |||
5% 8/1/25 | 2,775,000 | 2,945,808 | |
5% 8/1/26 | 1,785,000 | 1,934,586 | |
5% 5/1/27 | 1,870,000 | 2,054,707 | |
Kentucky, Inc. Pub. Energy: | |||
Bonds: | |||
Series A, 4%, tender 6/1/26 (b) | 10,775,000 | 10,795,143 | |
Series C1, 4%, tender 6/1/25 (b) | 1,870,000 | 1,875,154 | |
Series A: | |||
4% 6/1/23 | 545,000 | 545,798 | |
4% 12/1/24 | 470,000 | 473,364 | |
4% 6/1/25 | 545,000 | 549,629 | |
Louisville & Jefferson County: | |||
Bonds: | |||
Series 2020 C, 5%, tender 10/1/26 (b) | 490,000 | 521,809 | |
Series 2020 D, 5%, tender 10/1/29 (b) | 590,000 | 656,892 | |
Series 2016 A, 5% 10/1/31 | 90,000 | 95,978 | |
Series 2020 A: | |||
3% 10/1/43 | 4,225,000 | 3,477,874 | |
4% 10/1/39 | 1,405,000 | 1,381,734 | |
TOTAL KENTUCKY | 63,453,462 | ||
Louisiana - 0.5% | |||
Calcasieu Parish Memorial Hosp. (Lake Charles Memorial Hosp. Proj.) Series 2019: | |||
4% 12/1/23 | 1,135,000 | 1,140,065 | |
4% 12/1/24 | 1,145,000 | 1,153,195 | |
Louisiana Pub. Facilities Auth. Hosp. Rev. (Franciscan Missionaries of Our Lady Health Sys. Proj.) Series 2017 A, 5% 7/1/47 | 1,890,000 | 1,934,520 | |
Louisiana Pub. Facilities Auth. Rev.: | |||
(Ochsner Clinic Foundation Proj.) Series 2017, 5% 5/15/27 | 830,000 | 900,054 | |
Series 2018 E: | |||
5% 7/1/32 | 1,375,000 | 1,522,783 | |
5% 7/1/33 | 1,120,000 | 1,234,133 | |
5% 7/1/34 | 1,295,000 | 1,417,393 | |
St. John Baptist Parish Rev.: | |||
(Marathon Oil Corp.) Series 2017, 2.2% 6/1/37 (b) | 1,400,000 | 1,319,023 | |
Bonds (Marathon Oil Corp.) Series 2017: | |||
2%, tender 4/1/23 (b) | 1,320,000 | 1,317,609 | |
2.1%, tender 7/1/24 (b) | 635,000 | 621,804 | |
TOTAL LOUISIANA | 12,560,579 | ||
Maine - 0.3% | |||
Maine Health & Higher Edl. Facilities Auth. Rev.: | |||
(Eastern Maine Healthcare Systems Proj.) Series 2013, 5% 7/1/43 (Pre-Refunded to 7/1/23 @ 100) | 95,000 | 95,942 | |
Series 2017 B, 5% 7/1/33 | 260,000 | 281,003 | |
Series 2021 A, 4% 7/1/46 | 2,865,000 | 2,743,607 | |
Maine Hsg. Auth. Mtg.: | |||
Series 2022 E, 5% 11/15/52 | 1,125,000 | 1,198,590 | |
Series C, 3.5% 11/15/46 | 1,430,000 | 1,428,257 | |
Maine Tpk. Auth. Tpk. Rev. Series 2018, 5% 7/1/47 | 470,000 | 502,188 | |
TOTAL MAINE | 6,249,587 | ||
Maryland - 2.8% | |||
Baltimore County Gen. Oblig. Series 2021, 5% 3/1/34 | 6,895,000 | 8,262,839 | |
Hsg. Opportunities Commission of Montgomery County Series 2021 C, 0.8% 7/1/25 | 375,000 | 354,798 | |
Maryland Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev.: | |||
Series 2019 B, 4% 9/1/49 | 310,000 | 313,530 | |
Series 2019 C: | |||
5% 9/1/27 | 680,000 | 750,420 | |
5% 9/1/28 | 110,000 | 123,407 | |
Maryland Econ. Dev. Auth. Rev. (Ports America Chesapeake LLC. Proj.) Series 2017 A, 5% 6/1/24 | 935,000 | 961,749 | |
Maryland Gen. Oblig. Series 2022 A: | |||
5% 6/1/35 | 15,000,000 | 18,064,542 | |
5% 6/1/36 | 3,895,000 | 4,631,738 | |
5% 6/1/37 | 10,000,000 | 11,818,332 | |
Maryland Health & Higher Edl. Series 2021 A: | |||
3% 7/1/51 | 3,325,000 | 2,502,500 | |
4% 6/1/55 | 585,000 | 521,757 | |
5% 6/1/31 | 330,000 | 370,528 | |
Maryland Health & Higher Edl. Facilities Auth. Rev. Series 2020 B: | |||
5% 4/15/24 | 660,000 | 678,199 | |
5% 4/15/25 | 860,000 | 905,383 | |
Maryland Stadium Auth. Series 2022 A: | |||
5% 6/1/47 | 5,725,000 | 6,439,229 | |
5% 6/1/52 | 1,350,000 | 1,508,673 | |
Maryland Stadium Auth. Built to Learn Rev.: | |||
Series 2021, 4% 6/1/46 | 675,000 | 669,066 | |
Series 2022 A, 4% 6/1/35 | 2,340,000 | 2,474,812 | |
Maryland Trans. Auth. Trans. Facility Projs. Rev. Series 2020, 5% 7/1/40 | 4,615,000 | 5,182,982 | |
TOTAL MARYLAND | 66,534,484 | ||
Massachusetts - 2.0% | |||
Massachusetts Commonwealth Trans. Fund Rev. (Rail Enhancement Prog.) Series 2021 B, 5% 6/1/37 | 4,170,000 | 4,618,095 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
Caregroup, Inc. Series 2015 H-1, 5% 7/1/25 | 1,285,000 | 1,353,759 | |
Series 2016, 5% 10/1/41 | 1,000,000 | 1,002,918 | |
Series 2017 A, 5% 1/1/36 | 2,260,000 | 2,364,020 | |
Series 2017, 5% 7/1/47 | 885,000 | 896,423 | |
Series 2018, 5% 1/1/43 | 1,250,000 | 1,281,467 | |
Series 2019 A, 5% 7/1/26 | 1,640,000 | 1,742,086 | |
Series 2019 K: | |||
5% 7/1/25 | 770,000 | 811,202 | |
5% 7/1/26 | 1,015,000 | 1,091,489 | |
5% 7/1/27 | 1,220,000 | 1,338,153 | |
Series 2019: | |||
5% 7/1/25 | 615,000 | 643,208 | |
5% 7/1/26 | 345,000 | 366,591 | |
5% 7/1/28 | 515,000 | 561,656 | |
5% 7/1/29 | 470,000 | 518,180 | |
5% 9/1/59 | 3,490,000 | 3,653,182 | |
Series 2020 A, 4% 7/1/45 | 3,425,000 | 3,157,939 | |
Series 2021 V, 5% 7/1/55 | 4,980,000 | 6,004,395 | |
Series J2, 5% 7/1/53 | 3,535,000 | 3,598,669 | |
Series M: | |||
4% 10/1/50 | 3,485,000 | 3,105,317 | |
5% 10/1/45 | 2,625,000 | 2,726,582 | |
Massachusetts Gen. Oblig.: | |||
Series 2019 C, 5% 5/1/49 | 1,525,000 | 1,648,442 | |
Series E, 5% 11/1/50 | 3,175,000 | 3,480,178 | |
Massachusetts Hsg. Fin. Auth. Series 2021 223, 3% 6/1/47 | 2,270,000 | 2,235,449 | |
TOTAL MASSACHUSETTS | 48,199,400 | ||
Michigan - 1.9% | |||
Detroit Downtown Dev. Auth. Tax Series A, 5% 7/1/37 (Assured Guaranty Muni. Corp. Insured) | 140,000 | 142,606 | |
Detroit Gen. Oblig. Series 2021 A, 5% 4/1/50 | 800,000 | 782,710 | |
Flint Hosp. Bldg. Auth. Rev. Series 2020: | |||
4% 7/1/41 | 990,000 | 866,464 | |
5% 7/1/25 | 435,000 | 450,634 | |
5% 7/1/26 | 400,000 | 421,049 | |
5% 7/1/27 | 620,000 | 661,910 | |
5% 7/1/28 | 865,000 | 935,757 | |
Grand Rapids Pub. Schools Series 2019, 5% 11/1/26 (Assured Guaranty Muni. Corp. Insured) | 860,000 | 937,420 | |
Grand Traverse County Hosp. Fin. Auth. Series 2021, 3% 7/1/51 | 1,020,000 | 772,121 | |
Great Lakes Wtr. Auth. Sew Disp. Sys. Series 2022 A: | |||
5% 7/1/37 | 3,175,000 | 3,589,552 | |
5% 7/1/38 | 1,325,000 | 1,492,666 | |
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev. Series 2022 A: | |||
5% 7/1/37 | 750,000 | 849,219 | |
5% 7/1/38 | 1,000,000 | 1,126,540 | |
Lake Orion Cmnty. School District Series 2019, 5% 5/1/24 | 470,000 | 484,565 | |
Lansing Cmnty. College Series 2019, 5% 5/1/44 | 4,745,000 | 5,160,405 | |
Michigan Fin. Auth. Rev.: | |||
(Henry Ford Health Sys. Proj.) Series 2016, 5% 11/15/25 | 3,950,000 | 4,194,523 | |
(Trinity Health Proj.) Series 2017, 5% 12/1/37 | 935,000 | 1,011,650 | |
Bonds: | |||
Series 2019 B, 5%, tender 11/16/26 (b) | 1,235,000 | 1,331,141 | |
Series 2019 MI2, 5%, tender 2/1/25 (b) | 695,000 | 727,587 | |
Series 2015, 5% 11/15/28 | 1,315,000 | 1,365,891 | |
Series 2016, 5% 11/15/26 | 795,000 | 861,605 | |
Series 2019 A: | |||
3% 12/1/49 | 2,045,000 | 1,590,787 | |
4% 12/1/49 | 745,000 | 721,911 | |
5% 11/15/48 | 270,000 | 279,706 | |
Series 2020 A, 4% 6/1/49 | 810,000 | 731,624 | |
Series 2020, 5% 6/1/40 | 470,000 | 488,166 | |
Oakland Univ. Rev.: | |||
Series 2016, 5% 3/1/41 | 760,000 | 795,696 | |
Series 2019 A, 5% 3/1/31 | 545,000 | 617,603 | |
Series 2019: | |||
5% 3/1/32 | 610,000 | 688,577 | |
5% 3/1/33 | 585,000 | 655,417 | |
5% 3/1/34 | 655,000 | 729,386 | |
5% 3/1/35 | 655,000 | 724,067 | |
5% 3/1/36 | 750,000 | 821,826 | |
5% 3/1/37 | 840,000 | 913,324 | |
5% 3/1/38 | 1,240,000 | 1,339,187 | |
5% 3/1/39 | 840,000 | 903,773 | |
Royal Oak Hosp. Fin. Auth. Hosp. Rev. Series 2014 D, 5% 9/1/23 (Escrowed to Maturity) | 490,000 | 497,258 | |
Univ. of Michigan Rev. Series 2020 A, 5% 4/1/50 | 3,745,000 | 4,166,222 | |
TOTAL MICHIGAN | 44,830,545 | ||
Minnesota - 0.4% | |||
City of White Bear Lake (YMCA of Greater Twin Cities Proj.) Series 2018: | |||
5% 6/1/23 | 480,000 | 482,723 | |
5% 6/1/27 | 470,000 | 503,143 | |
Duluth Econ. Dev. Auth. Health Care Facilities Rev. Series 2018 A, 5% 2/15/43 | 470,000 | 487,472 | |
Hennepin County Reg'l. Railroad Auth. Series 2019, 5% 12/1/28 | 1,985,000 | 2,307,772 | |
Minnesota Higher Ed. Facilities Auth. Rev.: | |||
Series 2016 A, 5% 5/1/46 | 1,365,000 | 1,284,469 | |
Series 2018 A, 5% 10/1/45 | 5,000 | 5,190 | |
Saint Cloud Health Care Rev. Series 2019: | |||
4% 5/1/49 | 505,000 | 489,533 | |
5% 5/1/48 | 630,000 | 656,069 | |
Shakopee Sr. Hsg. Rev. Bonds Series 2018, 5.85%, tender 11/1/25 (b)(c) | 1,340,000 | 1,328,833 | |
St. Paul Hsg. & Redev. Auth. Health Care Facilities Rev. Series 2015 A, 5% 7/1/29 | 2,095,000 | 2,193,912 | |
TOTAL MINNESOTA | 9,739,116 | ||
Mississippi - 0.1% | |||
Mississippi Hosp. Equip. & Facilities Auth.: | |||
Bonds Series II, 5%, tender 3/1/27 (b) | 565,000 | 600,162 | |
Series I: | |||
5% 10/1/23 | 515,000 | 522,274 | |
5% 10/1/24 | 500,000 | 517,213 | |
5% 10/1/26 | 610,000 | 655,951 | |
5% 10/1/28 | 935,000 | 1,036,987 | |
TOTAL MISSISSIPPI | 3,332,587 | ||
Missouri - 1.1% | |||
Kansas City Wtr. Rev. Series 2020 A: | |||
4% 12/1/32 | 630,000 | 689,808 | |
4% 12/1/34 | 375,000 | 405,686 | |
4% 12/1/36 | 655,000 | 691,102 | |
4% 12/1/37 | 470,000 | 491,995 | |
4% 12/1/40 | 470,000 | 482,490 | |
5% 12/1/28 | 545,000 | 630,697 | |
5% 12/1/29 | 330,000 | 388,382 | |
5% 12/1/30 | 620,000 | 743,585 | |
5% 12/1/35 | 560,000 | 655,305 | |
Missouri Health & Edl. Facilities Rev.: | |||
Series 2017 A, 5% 10/1/42 | 2,200,000 | 2,344,811 | |
Series 2019 A: | |||
4% 10/1/48 | 4,480,000 | 4,438,784 | |
5% 10/1/46 | 430,000 | 467,243 | |
Missouri Hsg. Dev. Commission Single Family Mtg. Rev.: | |||
Series 2019, 4% 5/1/50 | 125,000 | 126,694 | |
Series 2021 A, 3% 5/1/52 | 2,450,000 | 2,412,590 | |
Saint Louis Arpt. Rev.: | |||
Series 2019 C: | |||
5% 7/1/26 | 1,350,000 | 1,465,528 | |
5% 7/1/27 | 2,275,000 | 2,525,366 | |
Series A, 5.25% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 2,610,000 | 2,859,121 | |
Saint Louis County Indl. Dev. Auth. Sr. Living Facilities Rev. Series 2018 A: | |||
5.125% 9/1/48 | 55,000 | 50,697 | |
5.25% 9/1/53 | 3,910,000 | 3,608,795 | |
TOTAL MISSOURI | 25,478,679 | ||
Montana - 0.1% | |||
Montana Board Hsg. Single Family Series 2019 B, 4% 6/1/50 | 60,000 | 61,087 | |
Montana Facility Fin. Auth. Series 2021 A, 3% 6/1/50 | 2,055,000 | 1,521,135 | |
TOTAL MONTANA | 1,582,222 | ||
Nebraska - 0.6% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 12,540,000 | 12,699,697 | |
Douglas County Neb Edl. Facilities Rev. (Creighton Univ. Projs.) Series 2021 A, 3% 7/1/51 | 940,000 | 690,172 | |
TOTAL NEBRASKA | 13,389,869 | ||
Nevada - 1.1% | |||
Clark County Arpt. Rev.: | |||
Series 2014 A2, 5% 7/1/30 | 395,000 | 409,682 | |
Series 2019 A, 5% 7/1/26 | 1,175,000 | 1,282,416 | |
Clark County School District: | |||
Series 2015 C, 5% 6/15/26 | 2,810,000 | 3,018,818 | |
Series 2016 B, 5% 6/15/26 | 1,570,000 | 1,707,408 | |
Series 2017 A: | |||
5% 6/15/24 | 235,000 | 243,053 | |
5% 6/15/25 | 5,565,000 | 5,900,191 | |
5% 6/15/26 | 200,000 | 217,504 | |
Series A, 5% 6/15/27 | 1,220,000 | 1,359,385 | |
Las Vegas Valley Wtr. District Wtr. Impt. Gen. Oblig. Series 2022 A, 4% 6/1/40 | 1,245,000 | 1,282,639 | |
Nevada Hsg. Division Single Family Mtg. Rev.: | |||
Series 2019 A, 4% 4/1/49 | 1,695,000 | 1,715,413 | |
Series 2019 B, 4% 10/1/49 | 180,000 | 182,193 | |
Series 2021 B, 3% 10/1/51 | 6,770,000 | 6,649,476 | |
Nevada Hwy. Impt. Rev. Series 2020 A, 2% 12/1/32 | 3,020,000 | 2,733,365 | |
TOTAL NEVADA | 26,701,543 | ||
New Hampshire - 0.6% | |||
Nat'l. Fin. Auth. Hosp. Rev. (St. Luke's Univ. Health Network Proj.) Series 2021 B, 3% 8/15/51 (Assured Guaranty Muni. Corp. Insured) | 1,755,000 | 1,334,278 | |
Nat'l. Finnance Auth.: | |||
Series 2020 1, 4.125% 1/20/34 | 1,625,160 | 1,641,864 | |
Series 2022 1, 4.375% 9/20/36 | 2,283,417 | 2,288,915 | |
New Hampshire Health & Ed. Facilities Auth.: | |||
(Dartmouth-Hitchcock Oblgtd Grp Proj.) Series 2018 A, 5% 8/1/34 | 295,000 | 321,730 | |
Series 2017, 5% 7/1/44 | 2,185,000 | 2,162,177 | |
New Hampshire Health & Ed. Facilities Auth. Rev. Series 2016, 5% 10/1/23 | 160,000 | 162,260 | |
New Hampshire Nat'l. Fin. Auth. Series 2022 2, 4% 10/20/36 | 7,709,136 | 7,469,356 | |
TOTAL NEW HAMPSHIRE | 15,380,580 | ||
New Jersey - 4.9% | |||
Camden County Impt. Auth. Health Care Redev. Rev. Series 2014 A, 5% 2/15/26 | 935,000 | 949,027 | |
New Jersey Econ. Dev. Auth.: | |||
(White Horse HMT Urban Renewal LLC Proj.) Series 2020, 5% 1/1/40 (c) | 310,000 | 237,372 | |
Series 2013, 5% 3/1/27 | 45,000 | 45,081 | |
Series A, 5% 11/1/31 | 2,560,000 | 2,900,573 | |
Series QQQ, 4% 6/15/46 | 740,000 | 710,786 | |
New Jersey Econ. Dev. Auth. Lease Rev. (State House Proj.) Series 2017 B: | |||
5% 6/15/26 | 935,000 | 1,006,117 | |
5% 6/15/35 | 545,000 | 593,289 | |
New Jersey Econ. Dev. Auth. Rev.: | |||
(Black Horse EHT Urban Renewal LLC Proj.) Series 2019 A, 5% 10/1/39 (c) | 220,000 | 169,186 | |
(Provident Montclair Proj.) Series 2017, 5% 6/1/25 (Assured Guaranty Muni. Corp. Insured) | 970,000 | 1,021,270 | |
Series 2014 PP, 5% 6/15/26 | 935,000 | 964,004 | |
Series 2014 RR, 5% 6/15/32 (Pre-Refunded to 6/15/24 @ 100) | 195,000 | 201,967 | |
Series 2014 UU, 5% 6/15/30 (Pre-Refunded to 6/15/24 @ 100) | 245,000 | 253,754 | |
Series 2016 A, 5% 7/15/27 | 935,000 | 1,008,347 | |
Series 2018 EEE: | |||
5% 6/15/28 | 550,000 | 614,126 | |
5% 6/15/34 (Pre-Refunded to 12/15/28 @ 100) | 1,405,000 | 1,626,476 | |
Series LLL: | |||
4% 6/15/44 | 2,745,000 | 2,664,085 | |
4% 6/15/49 | 2,515,000 | 2,395,345 | |
Series MMM: | |||
4% 6/15/35 | 1,085,000 | 1,116,158 | |
4% 6/15/36 | 420,000 | 427,385 | |
New Jersey Edl. Facility Series A: | |||
5% 7/1/38 | 1,980,000 | 2,099,835 | |
5% 7/1/39 | 2,080,000 | 2,196,095 | |
New Jersey Gen. Oblig. Series 2020 A: | |||
5% 6/1/28 | 935,000 | 1,063,714 | |
5% 6/1/29 | 1,120,000 | 1,300,306 | |
New Jersey Health Care Facilities Fing. Auth. Rev.: | |||
Bonds: | |||
Series 2019 B2, 5%, tender 7/1/25 (b) | 1,560,000 | 1,646,847 | |
Series 2019 B3, 5%, tender 7/1/26 (b) | 1,585,000 | 1,704,981 | |
Series 2016: | |||
4% 7/1/48 | 3,355,000 | 2,809,463 | |
5% 7/1/28 | 1,095,000 | 1,147,194 | |
5% 7/1/41 | 85,000 | 84,617 | |
Series 2021, 3% 7/1/39 | 1,910,000 | 1,683,080 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev. Series 2019 A: | |||
5% 12/1/23 | 185,000 | 188,733 | |
5% 12/1/24 | 110,000 | 114,585 | |
5% 12/1/25 | 200,000 | 213,390 | |
New Jersey Tobacco Settlement Fing. Corp. Series 2018 A, 5% 6/1/28 | 935,000 | 1,011,227 | |
New Jersey Tpk. Auth. Tpk. Rev.: | |||
Series 2015 E, 5% 1/1/34 | 630,000 | 658,886 | |
Series 2022 B, 5% 1/1/46 | 11,000,000 | 12,111,811 | |
Series D, 5% 1/1/28 | 1,000,000 | 1,082,716 | |
New Jersey Trans. Trust Fund Auth.: | |||
(Trans. Prog.) Series 2019 AA, 5.25% 6/15/43 | 1,820,000 | 1,928,746 | |
Series 2006 C: | |||
0% 12/15/25 | 5,025,000 | 4,620,312 | |
0% 12/15/31 (FGIC Insured) | 5,400,000 | 3,992,845 | |
Series 2010 A: | |||
0% 12/15/27 | 1,130,000 | 972,150 | |
0% 12/15/30 | 1,000,000 | 767,962 | |
Series 2018 A: | |||
5% 12/15/32 | 630,000 | 700,165 | |
5% 12/15/34 | 1,915,000 | 2,093,475 | |
Series 2019 BB, 4% 6/15/50 | 1,360,000 | 1,292,962 | |
Series 2021 A: | |||
4% 6/15/34 | 550,000 | 576,489 | |
4% 6/15/38 | 750,000 | 755,438 | |
5% 6/15/32 | 1,095,000 | 1,264,690 | |
5% 6/15/33 | 4,230,000 | 4,842,535 | |
Series 2022 A, 4% 6/15/40 | 3,125,000 | 3,114,480 | |
Series 2022 AA: | |||
5% 6/15/30 | 1,845,000 | 2,117,360 | |
5% 6/15/31 | 4,485,000 | 5,212,137 | |
5% 6/15/33 | 1,250,000 | 1,449,752 | |
Series 2022 BB: | |||
4% 6/15/46 | 5,350,000 | 5,138,791 | |
4% 6/15/50 | 3,600,000 | 3,422,547 | |
Series A: | |||
0% 12/15/31 | 1,615,000 | 1,188,962 | |
4% 12/15/39 | 935,000 | 936,740 | |
4.25% 12/15/38 | 2,355,000 | 2,396,989 | |
Series AA: | |||
4% 6/15/39 | 975,000 | 977,044 | |
4% 6/15/45 | 5,915,000 | 5,703,657 | |
4% 6/15/50 | 6,105,000 | 5,804,069 | |
5% 6/15/36 | 1,075,000 | 1,181,382 | |
5% 6/15/50 | 470,000 | 494,047 | |
Series BB, 4% 6/15/44 | 1,215,000 | 1,179,185 | |
Newark Port Auth. Hsg. Auth. Rev. Series 2007, 5.25% 1/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 935,000 | 989,707 | |
Ocean City Gen. Oblig. Series 2020 B, 2% 10/15/30 | 635,000 | 592,070 | |
Rutgers State Univ. Rev. Series Q, 5% 5/1/23 | 200,000 | 201,237 | |
South Jersey Trans. Auth. Trans. Sys. Rev. Series 2022 A: | |||
5% 11/1/38 | 1,000,000 | 1,074,454 | |
5% 11/1/40 | 1,350,000 | 1,434,814 | |
TOTAL NEW JERSEY | 118,439,021 | ||
New Mexico - 0.4% | |||
Albuquerque Wtr. Util. Auth. Series 2018, 5% 7/1/28 | 935,000 | 1,020,153 | |
New Mexico Hosp. Equip. Ln. Council Rev. Bonds Series 2019 B, 5%, tender 8/1/25 (b) | 1,365,000 | 1,438,155 | |
New Mexico Mtg. Fin. Auth.: | |||
Series 2019 C, 4% 1/1/50 | 670,000 | 679,052 | |
Series 2019 D, 3.75% 1/1/50 | 245,000 | 246,844 | |
New Mexico Muni. Energy Acquisition Auth. Gas Supply Rev.: | |||
Bonds Series 2019 A, 5%, tender 5/1/25 (b) | 4,680,000 | 4,849,887 | |
Series 2019 A: | |||
4% 5/1/23 | 550,000 | 551,484 | |
4% 11/1/23 | 185,000 | 186,352 | |
4% 5/1/24 | 630,000 | 636,871 | |
Santa Fe Retirement Fac. Series 2019 A: | |||
5% 5/15/34 | 65,000 | 62,341 | |
5% 5/15/39 | 45,000 | 41,058 | |
5% 5/15/44 | 45,000 | 39,188 | |
5% 5/15/49 | 100,000 | 84,638 | |
TOTAL NEW MEXICO | 9,836,023 | ||
New York - 12.5% | |||
Dorm. Auth. New York Univ. Rev. Series 2017 A, 5% 7/1/46 (Pre-Refunded to 7/1/27 @ 100) | 1,185,000 | 1,325,435 | |
Hudson Yards Infrastructure Corp. New York Rev. Series 2017 A, 5% 2/15/42 | 3,465,000 | 3,704,211 | |
Long Island Pwr. Auth. Elec. Sys. Rev.: | |||
Bonds Series 2019 B, 1.65%, tender 9/1/24 (b) | 2,435,000 | 2,372,095 | |
Series 2018, 5% 9/1/36 | 235,000 | 259,796 | |
MTA Hudson Rail Yards Trust Oblig. Series 2016 A, 5% 11/15/56 | 280,000 | 277,302 | |
New York City Edl. Construction Fund Series 2021 B, 5% 4/1/46 | 2,055,000 | 2,228,344 | |
New York City Gen. Oblig.: | |||
Series 2021 A1, 5% 8/1/31 | 3,990,000 | 4,759,877 | |
Series 2021 F1, 5% 3/1/50 | 3,080,000 | 3,357,784 | |
Series 2022 A1: | |||
5% 9/1/39 | 9,105,000 | 10,465,596 | |
5% 8/1/47 | 3,645,000 | 4,000,070 | |
Series B: | |||
5% 10/1/42 | 1,870,000 | 2,044,168 | |
5% 10/1/43 | 2,540,000 | 2,771,931 | |
New York City Hsg. Dev. Corp. Multifamily Hsg.: | |||
Bonds: | |||
Series 2021 C2, 0.7%, tender 7/1/25 (b) | 1,185,000 | 1,110,542 | |
Series 2021 K2, 0.9%, tender 1/1/26 (b) | 6,590,000 | 6,110,164 | |
Series 2021, 0.6%, tender 7/1/25 (b) | 1,570,000 | 1,467,398 | |
Series 2022 F 2B, 3.4%, tender 12/22/26 (b) | 8,400,000 | 8,471,064 | |
Series 2021 C1, 2.5% 11/1/51 | 4,155,000 | 2,799,819 | |
New York City Muni. Wtr. Fin. Auth. Series 2022 CC1, 5% 6/15/52 | 15,440,000 | 17,005,137 | |
New York City Transitional Fin. Auth. Bldg. Aid Rev.: | |||
(New York State Gen. Oblig. Proj.) Series 2015 S-1, 5% 7/15/35 | 6,550,000 | 6,855,006 | |
Series 2018 S2, 5% 7/15/35 | 1,005,000 | 1,105,371 | |
New York City Transitional Fin. Auth. Rev.: | |||
Series 2018 A2, 5% 8/1/39 | 1,685,000 | 1,821,506 | |
Series 2018 B, 5% 8/1/45 | 6,690,000 | 7,136,134 | |
Series 2022 B1, 5.25% 11/1/37 | 5,880,000 | 6,973,912 | |
New York City Trust Cultural Resources Rev. Series 2021, 5% 7/1/31 | 3,370,000 | 4,096,045 | |
New York Dorm. Auth. Rev.: | |||
Bonds: | |||
Series 2019 B2, 5%, tender 5/1/24 (b) | 825,000 | 838,241 | |
Series 2019 B3, 5%, tender 5/1/26 (b) | 595,000 | 629,307 | |
Series 2022 A: | |||
5% 7/1/36 | 750,000 | 846,548 | |
5% 7/15/37 | 380,000 | 401,925 | |
5% 7/1/40 | 935,000 | 1,013,302 | |
5% 7/1/41 | 935,000 | 1,007,906 | |
5% 7/15/42 | 1,075,000 | 1,111,457 | |
5% 7/15/50 | 2,775,000 | 2,823,433 | |
Series 2022: | |||
5% 7/1/30 | 1,540,000 | 1,684,261 | |
5% 7/1/31 | 1,615,000 | 1,767,648 | |
5% 7/1/38 | 780,000 | 814,113 | |
5% 7/1/39 | 1,225,000 | 1,271,712 | |
5% 7/1/40 | 2,760,000 | 2,850,545 | |
5% 7/1/41 | 2,900,000 | 2,979,341 | |
5% 7/1/42 | 1,520,000 | 1,558,475 | |
5% 7/1/57 | 6,385,000 | 6,389,792 | |
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev. Series 2012 A, 0% 11/15/32 | 5,160,000 | 3,682,349 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2015 A1, 5% 11/15/29 | 400,000 | 409,910 | |
Series 2015 D1, 5% 11/15/28 | 2,310,000 | 2,379,669 | |
Series 2017 C1, 5% 11/15/34 | 2,230,000 | 2,348,727 | |
Series 2017 D: | |||
5% 11/15/30 | 8,760,000 | 9,290,863 | |
5% 11/15/35 | 1,870,000 | 1,962,842 | |
Series 2020 A, 5% 2/1/23 | 2,825,000 | 2,825,000 | |
Series 2020 D, 4% 11/15/46 | 12,660,000 | 11,463,455 | |
New York State Dorm. Auth.: | |||
Series 2017 A, 5% 2/15/31 | 935,000 | 1,033,104 | |
Series 2019 D, 3% 2/15/49 | 3,920,000 | 3,143,549 | |
Series 2021 A, 4% 3/15/38 | 4,000,000 | 4,075,945 | |
Series 2021 E: | |||
3% 3/15/50 | 2,340,000 | 1,845,298 | |
4% 3/15/39 | 4,000,000 | 4,064,693 | |
4% 3/15/45 | 5,435,000 | 5,380,630 | |
4% 3/15/47 | 3,830,000 | 3,768,116 | |
Series 2022 A, 5% 3/15/41 | 12,850,000 | 14,431,312 | |
New York State Hsg. Fin. Agcy. Rev. Bonds Series 2021 J2: | |||
1%, tender 11/1/26 (b) | 960,000 | 882,155 | |
1.1%, tender 5/1/27 (b) | 3,545,000 | 3,226,149 | |
New York State Mtg. Agcy. Homeowner Mtg. Series 2020 225, 2.45% 10/1/45 | 10,000,000 | 6,983,423 | |
New York State Urban Dev. Corp.: | |||
Series 2020 A: | |||
4% 3/15/45 | 1,170,000 | 1,156,613 | |
4% 3/15/49 | 7,380,000 | 7,189,009 | |
5% 3/15/37 | 11,380,000 | 12,860,941 | |
Series 2020 C: | |||
4% 3/15/39 | 3,315,000 | 3,356,606 | |
5% 3/15/43 | 4,680,000 | 5,144,621 | |
5% 3/15/47 | 9,360,000 | 10,202,680 | |
Series 2020 E: | |||
3% 3/15/50 | 1,525,000 | 1,202,598 | |
4% 3/15/44 | 8,705,000 | 8,642,996 | |
4% 3/15/45 | 7,020,000 | 6,939,675 | |
New York State Urban Eev Corp. Series 2019 A, 5% 3/15/37 | 3,540,000 | 3,977,693 | |
Niagara Area Dev. Corp. Rev. (Catholic Health Sys., Inc. Proj.) Series 2022, 4.5% 7/1/52 | 1,775,000 | 1,326,814 | |
Oneida County Local Dev. Corp. Rev. (Mohawk Valley Health Sys. Proj.) Series 2019 A, 5% 12/1/26 (Assured Guaranty Muni. Corp. Insured) | 1,520,000 | 1,550,645 | |
Suffolk County Econ. Dev. Corp. Rev. Series 2021: | |||
4.625% 11/1/31 (c) | 250,000 | 216,055 | |
5.375% 11/1/54 (c) | 935,000 | 722,039 | |
Triborough Bridge & Tunnel Auth.: | |||
Series 2021 B, 4% 5/15/56 | 1,645,000 | 1,592,148 | |
Series 2022 A, 5% 5/15/57 | 8,425,000 | 9,196,060 | |
Triborough Bridge & Tunnel Auth. Revs.: | |||
Series 2018 A, 5% 11/15/44 | 3,745,000 | 4,026,816 | |
Series 2021 A, 5% 11/15/51 | 3,135,000 | 3,422,617 | |
Series 2022 A: | |||
5% 11/15/40 | 2,280,000 | 2,604,499 | |
5% 11/15/41 | 1,750,000 | 1,984,853 | |
TOTAL NEW YORK | 301,019,880 | ||
New York And New Jersey - 0.2% | |||
Port Auth. of New York & New Jersey: | |||
(H. Lee Moffitt Cancer Ctr. Proj.) Series 2016, 5% 11/15/41 | 4,680,000 | 4,974,792 | |
Series 194, 5.25% 10/15/55 | 935,000 | 974,629 | |
TOTAL NEW YORK AND NEW JERSEY | 5,949,421 | ||
North Carolina - 0.7% | |||
Charlotte Ctfs. of Prtn. (Convention Facility Projs.) Series 2019 A, 4% 6/1/39 | 820,000 | 842,686 | |
New Hanover County Hosp. Rev. Series 2017: | |||
5% 10/1/27 (Escrowed to Maturity) | 50,000 | 55,992 | |
5% 10/1/42 (Pre-Refunded to 10/1/27 @ 100) | 435,000 | 487,129 | |
North Carolina Med. Care Commission Health Care Facilities Rev.: | |||
Bonds Series 2019 C, 2.55%, tender 6/1/26 (b) | 1,260,000 | 1,249,775 | |
Series 2020 A, 3% 7/1/45 | 1,335,000 | 1,069,925 | |
North Carolina Tpk. Auth. Triangle Expressway Sys. Series 2019, 5% 1/1/49 | 13,100,000 | 13,640,385 | |
TOTAL NORTH CAROLINA | 17,345,892 | ||
North Dakota - 0.3% | |||
North Dakota Hsg. Fin. Agcy.: | |||
Series 2021 A, 3% 1/1/52 | 795,000 | 782,984 | |
Series 2021 B, 3% 7/1/52 | 2,115,000 | 2,076,663 | |
Series 2022, 5% 1/1/53 | 2,755,000 | 2,935,110 | |
Univ. of North Dakota Series 2021 A, 3% 6/1/61 (Assured Guaranty Muni. Corp. Insured) | 2,865,000 | 2,048,766 | |
TOTAL NORTH DAKOTA | 7,843,523 | ||
Ohio - 2.8% | |||
Akron Bath Copley Hosp. District Rev.: | |||
Series 2016, 5.25% 11/15/46 | 3,495,000 | 3,575,503 | |
Series 2020, 5% 11/15/31 | 360,000 | 400,628 | |
American Muni. Pwr., Inc. Rev. (Greenup Hydroelectric Proj.): | |||
Series 2016 A, 5% 2/15/41 | 935,000 | 969,825 | |
Series 2016, 5% 2/15/46 | 1,625,000 | 1,675,154 | |
Buckeye Tobacco Settlement Fing. Auth.: | |||
Series 2020 A2: | |||
3% 6/1/48 | 2,030,000 | 1,544,442 | |
4% 6/1/48 | 660,000 | 606,643 | |
Series 2020 B2, 5% 6/1/55 | 5,530,000 | 5,272,951 | |
Chillicothe Hosp. Facilities Rev. (Adena Health Sys. Oblig. Group Proj.) Series 2017, 5% 12/1/47 | 935,000 | 941,876 | |
Cleveland Arpt. Sys. Rev. Series 2016 A, 5% 1/1/25 (Assured Guaranty Muni. Corp. Insured) | 685,000 | 715,572 | |
Cleveland-Cuyahoga County Port Auth. Rev. (Euclid Avenue Dev. Corp. Proj.) Series 2022 A: | |||
5% 8/1/39 | 1,250,000 | 1,348,155 | |
5.25% 8/1/40 | 1,320,000 | 1,444,202 | |
5.25% 8/1/41 | 1,390,000 | 1,518,419 | |
5.25% 8/1/42 | 1,465,000 | 1,594,728 | |
Columbus Gen. Oblig. Series 2016 2, 5% 7/1/25 | 1,780,000 | 1,897,184 | |
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013, 4.25% 6/15/24 | 360,000 | 360,314 | |
Franklin County Hosp. Facilities Rev. Bonds (U.S. Health Corp. of Columbus Proj.) Series 2011 B, 5%, tender 5/15/23 (b) | 175,000 | 176,098 | |
Hamilton County Healthcare Rev. (Life Enriching Cmntys. Proj.) Series 2016, 5% 1/1/51 | 935,000 | 857,447 | |
Hamilton County Hosp. Facilities Rev. (Trihealth, Inc. Obligated Group Proj.) Series 2017 A, 5% 8/15/33 | 770,000 | 826,817 | |
Lancaster Port Auth. Gas Rev. Bonds Series 2019, 5%, tender 2/1/25 (b) | 4,130,000 | 4,251,459 | |
Miami County Hosp. Facilities Rev. (Kettering Health Network Obligated Group Proj.) Series 2019: | |||
5% 8/1/23 | 405,000 | 409,302 | |
5% 8/1/45 | 3,320,000 | 3,457,643 | |
Middleburg Heights Hosp. Rev. Series 2021 A, 4% 8/1/41 | 1,590,000 | 1,563,952 | |
Muskingum County Hosp. Facilities (Genesis Healthcare Sys. Obligated Group Proj.) Series 2013, 4% 2/15/23 | 1,005,000 | 1,005,159 | |
Ohio Higher Edl. Facility Commission Rev.: | |||
(Kenyon College 2020 Proj.) Series 2020: | |||
4% 7/1/40 | 685,000 | 685,555 | |
5% 7/1/35 | 2,455,000 | 2,728,730 | |
5% 7/1/42 | 4,235,000 | 4,562,196 | |
(Kenyon College, Oh. Proj.) Series 2017, 5% 7/1/42 | 1,590,000 | 1,674,463 | |
Ohio Hosp. Rev. Series 2020 A, 4% 1/15/50 | 265,000 | 244,886 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. (Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 | 85,000 | 86,987 | |
Ohio Major New State Infrastructure Rev. Series 2021 1A: | |||
5% 12/15/31 | 1,310,000 | 1,588,436 | |
5% 12/15/32 | 1,625,000 | 2,007,018 | |
Ohio Spl. Oblig. Series 2020 A, 5% 2/1/26 | 1,070,000 | 1,156,046 | |
Ohio Tpk. Commission Tpk. Rev. (Infrastructure Projs.) Series 2022 A, 5% 2/15/39 | 590,000 | 688,364 | |
Ross County Hosp. Facilities Rev. (Adena Health Sys. Obligated Group Proj.) Series 2019: | |||
5% 12/1/23 | 470,000 | 478,313 | |
5% 12/1/24 | 490,000 | 508,639 | |
5% 12/1/25 | 430,000 | 456,367 | |
5% 12/1/26 | 560,000 | 606,608 | |
Scioto County Hosp. Facilities Rev.: | |||
Series 2016: | |||
5% 2/15/26 | 1,815,000 | 1,921,660 | |
5% 2/15/27 | 1,510,000 | 1,597,270 | |
Series 2019, 5% 2/15/29 | 605,000 | 639,658 | |
Univ. of Akron Gen. Receipts Series 2019 A, 5% 1/1/26 | 1,685,000 | 1,791,776 | |
Univ. of Cincinnati Gen. Receipts Series 2016 C, 5% 6/1/41 | 4,680,000 | 4,964,262 | |
Washington County Hosp. Rev. Series 2022: | |||
6% 12/1/28 | 830,000 | 862,183 | |
6% 12/1/29 | 880,000 | 919,136 | |
6% 12/1/30 | 930,000 | 974,657 | |
6% 12/1/31 | 995,000 | 1,044,814 | |
TOTAL OHIO | 68,601,497 | ||
Oklahoma - 0.0% | |||
Oklahoma Dev. Fin. Auth. Rev. (Oklahoma City Univ. Proj.) Series 2019: | |||
5% 8/1/26 | 335,000 | 346,569 | |
5% 8/1/44 | 620,000 | 624,091 | |
TOTAL OKLAHOMA | 970,660 | ||
Oregon - 0.7% | |||
Medford Hosp. Facilities Auth. Rev. (Asante Projs.) Series 2020 A: | |||
5% 8/15/36 | 1,215,000 | 1,339,705 | |
5% 8/15/38 | 3,465,000 | 3,781,128 | |
Oregon Gen. Oblig. Series 2022 A, 5% 12/1/52 | 1,935,000 | 2,060,205 | |
Oregon State Hsg. & Cmnty. Svcs. Dept. Series 2019 A, 4% 7/1/50 | 7,470,000 | 7,558,393 | |
Salem Hosp. Facility Auth. Rev. (Salem Health Projs.) Series 2019 A, 3% 5/15/49 | 3,125,000 | 2,394,633 | |
TOTAL OREGON | 17,134,064 | ||
Pennsylvania - 3.8% | |||
Allegheny County Arpt. Auth. Rev. Series 2021 B, 5% 1/1/51 | 7,525,000 | 8,034,432 | |
Allegheny County Indl. Dev. Auth. Rev. Series 2021: | |||
3.5% 12/1/31 | 545,000 | 461,320 | |
4% 12/1/41 | 995,000 | 755,514 | |
4.25% 12/1/50 | 1,110,000 | 800,489 | |
Bucks County Indl. Dev. Auth. Hosp. Rev. Series 2021: | |||
5% 7/1/36 | 565,000 | 569,187 | |
5% 7/1/38 | 1,130,000 | 1,117,231 | |
Commonwealth Fing. Auth. Rev.: | |||
Series 2019 B, 5% 6/1/26 | 635,000 | 686,332 | |
Series 2020 A: | |||
5% 6/1/29 | 1,640,000 | 1,880,049 | |
5% 6/1/32 | 2,810,000 | 3,227,240 | |
Dauphin County Gen. Auth. (Pinnacle Health Sys. Proj.) Series 2016 A, 5% 6/1/34 | 1,065,000 | 1,121,281 | |
Delaware County Auth. Rev.: | |||
(Cabrini College) Series 2017, 5% 7/1/47 | 1,640,000 | 1,629,420 | |
Series 2017, 5% 7/1/30 | 1,345,000 | 1,397,710 | |
Doylestown Hosp. Auth. Hosp. Rev. Series 2019, 5% 7/1/49 | 955,000 | 786,082 | |
Lehigh County Gen. Purp. Hosp. Rev. Series 2019 A: | |||
5% 7/1/23 | 840,000 | 847,426 | |
5% 7/1/24 | 1,590,000 | 1,638,686 | |
5% 7/1/26 | 1,780,000 | 1,909,324 | |
5% 7/1/27 | 1,870,000 | 2,038,076 | |
5% 7/1/28 | 1,945,000 | 2,153,846 | |
Montgomery County Higher Ed. & Health Auth. Rev.: | |||
Series 2016 A, 5% 10/1/40 | 2,515,000 | 2,441,085 | |
Series 2019: | |||
4% 9/1/36 | 700,000 | 704,180 | |
4% 9/1/37 | 700,000 | 702,391 | |
4% 9/1/38 | 1,590,000 | 1,588,792 | |
4% 9/1/39 | 1,030,000 | 1,028,962 | |
4% 9/1/44 | 235,000 | 229,337 | |
5% 9/1/23 | 470,000 | 475,816 | |
5% 9/1/24 | 630,000 | 650,369 | |
Series 2020: | |||
5% 4/1/23 | 335,000 | 335,792 | |
5% 4/1/24 | 340,000 | 345,924 | |
5% 4/1/25 | 260,000 | 268,126 | |
5% 4/1/26 | 310,000 | 324,373 | |
5% 4/1/27 | 590,000 | 625,573 | |
Montgomery County Indl. Dev. Auth. Series 2015 A, 5.25% 1/15/36 (Pre-Refunded to 1/15/25 @ 100) | 990,000 | 1,041,882 | |
Pennsylvania Econ. Dev. Fing. Auth. Series 2020 A: | |||
5% 4/15/24 | 515,000 | 529,201 | |
5% 4/15/25 | 700,000 | 736,939 | |
5% 4/15/26 | 2,340,000 | 2,521,257 | |
Pennsylvania Higher Edl. Facilities Auth. Rev.: | |||
Series 2012, 5% 11/1/42 | 1,280,000 | 1,280,666 | |
Series 2016, 5% 5/1/34 | 1,495,000 | 1,579,265 | |
Pennsylvania Hsg. Fin. Agcy. Series 2021 137, 3% 10/1/51 | 3,060,000 | 2,982,720 | |
Pennsylvania State Univ. Series 2020 A, 4% 9/1/50 | 1,385,000 | 1,391,914 | |
Pennsylvania Tpk. Commission Tpk. Rev.: | |||
Series 2016, 5% 6/1/36 | 1,870,000 | 1,960,769 | |
Series 2021 A: | |||
4% 12/1/43 | 2,810,000 | 2,792,775 | |
4% 12/1/46 | 4,680,000 | 4,575,336 | |
4% 12/1/50 | 935,000 | 885,595 | |
Philadelphia Auth. for Indl. Dev.: | |||
Series 2015 1, 5% 4/1/33 | 495,000 | 514,563 | |
Series 2017, 5% 11/1/47 | 975,000 | 994,876 | |
Philadelphia Gen. Oblig.: | |||
Series 2019 A, 5% 8/1/26 | 1,090,000 | 1,185,541 | |
Series 2019 B: | |||
5% 2/1/34 | 2,105,000 | 2,349,925 | |
5% 2/1/35 | 2,575,000 | 2,852,939 | |
5% 2/1/36 | 2,260,000 | 2,479,770 | |
Philadelphia School District: | |||
Series 2018 A, 5% 9/1/26 | 1,310,000 | 1,414,851 | |
Series 2019 A: | |||
4% 9/1/35 | 1,170,000 | 1,216,349 | |
5% 9/1/23 | 620,000 | 628,211 | |
5% 9/1/26 | 1,870,000 | 2,017,679 | |
5% 9/1/30 | 1,250,000 | 1,418,057 | |
5% 9/1/32 | 935,000 | 1,057,873 | |
5% 9/1/34 | 580,000 | 649,741 | |
5% 9/1/44 | 1,355,000 | 1,461,094 | |
Series 2019 B: | |||
5% 9/1/25 | 1,275,000 | 1,350,748 | |
5% 9/1/26 | 1,035,000 | 1,117,840 | |
Philadelphia Wtr. & Wastewtr. Rev. Series 2022 C: | |||
5% 6/1/33 | 650,000 | 785,948 | |
5% 6/1/34 | 800,000 | 961,097 | |
Pittsburgh Wtr. & Swr. Auth. Wtr. & Swr. Sys. Rev. Series 2019 A, 5% 9/1/44 (Assured Guaranty Muni. Corp. Insured) | 420,000 | 453,906 | |
Southcentral Pennsylvania Gen. Auth. Rev. Series 2019 A: | |||
4% 6/1/44 | 220,000 | 219,044 | |
4% 6/1/49 | 520,000 | 495,277 | |
5% 6/1/44 | 380,000 | 400,389 | |
5% 6/1/49 | 605,000 | 633,571 | |
State Pub. School Bldg. Auth. Lease Rev. (The School District of Philadelphia Proj.) Series 2016 A, 5% 6/1/32 (Assured Guaranty Muni. Corp. Insured) | 830,000 | 888,141 | |
Union County Hosp. Auth. Rev. Series 2018 B, 5% 8/1/48 | 1,340,000 | 1,371,914 | |
TOTAL PENNSYLVANIA | 91,972,028 | ||
Puerto Rico - 1.0% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth.: | |||
Series 2021 B: | |||
4% 7/1/42 (c) | 1,750,000 | 1,562,179 | |
5% 7/1/33 (c) | 835,000 | 856,763 | |
5% 7/1/37 (c) | 3,500,000 | 3,552,637 | |
Series 2022 A, 4% 7/1/42 (c) | 1,750,000 | 1,562,179 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 8,638,773 | 5,003,061 | |
4% 7/1/33 | 5,651,810 | 5,284,443 | |
4% 7/1/35 | 2,035,000 | 1,848,396 | |
5.625% 7/1/27 | 589,592 | 617,534 | |
5.625% 7/1/29 | 4,000,136 | 4,252,851 | |
TOTAL PUERTO RICO | 24,540,043 | ||
Rhode Island - 0.0% | |||
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev. Series 2016 B, 5% 9/1/31 | 855,000 | 859,789 | |
Rhode Island Hsg. & Mtg. Fin. Corp. Series 2019 70, 4% 10/1/49 | 150,000 | 151,639 | |
TOTAL RHODE ISLAND | 1,011,428 | ||
South Carolina - 0.5% | |||
Charleston County Arpt. District Series 2019, 5% 7/1/48 | 1,755,000 | 1,889,557 | |
Patriots Energy Group Fing. Agcy. Bonds Series 2018 A, 4%, tender 2/1/24 (b) | 505,000 | 508,252 | |
South Carolina Hsg. Fin. & Dev. Auth. Mtg. Rev. Series 2019 A, 4% 1/1/50 | 245,000 | 249,216 | |
South Carolina Jobs-Econ. Dev. Auth. Series 2019 C, 5% 7/1/33 | 1,220,000 | 1,342,656 | |
South Carolina Jobs-Econ. Dev. Auth. Econ. Dev. Rev. Series 2022 A, 4% 4/1/52 | 2,900,000 | 2,761,624 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2014 C, 5% 12/1/26 | 95,000 | 98,791 | |
Series 2016 A, 5% 12/1/33 | 205,000 | 215,074 | |
Series A, 5% 12/1/23 (Escrowed to Maturity) | 740,000 | 755,361 | |
Series B, 5% 12/1/24 | 2,360,000 | 2,454,065 | |
Spartanburg County Reg'l. Health Series 2017 A, 5% 4/15/48 | 2,310,000 | 2,392,370 | |
TOTAL SOUTH CAROLINA | 12,666,966 | ||
South Dakota - 0.1% | |||
South Dakota Health & Edl. Facilities Auth. Rev.: | |||
Bonds Series 2019 A, 5%, tender 7/1/24 (b) | 1,495,000 | 1,534,334 | |
Series 2020 A, 3% 9/1/45 | 1,730,000 | 1,381,653 | |
TOTAL SOUTH DAKOTA | 2,915,987 | ||
Tennessee - 0.8% | |||
Chattanooga Health Ed. & Hsg. Facility Board Rev.: | |||
Series 2019 A1: | |||
4% 8/1/44 | 7,770,000 | 7,476,529 | |
5% 8/1/25 | 575,000 | 602,978 | |
Series 2019 A2, 5% 8/1/44 | 2,105,000 | 2,191,357 | |
Jackson Hosp. Rev. Series 2018 A: | |||
5% 4/1/27 | 560,000 | 607,567 | |
5% 4/1/27 (Escrowed to Maturity) | 30,000 | 33,157 | |
5% 4/1/28 | 375,000 | 412,243 | |
5% 4/1/28 (Escrowed to Maturity) | 20,000 | 22,590 | |
5% 4/1/41 | 445,000 | 452,041 | |
5% 4/1/41 (Pre-Refunded to 10/1/28 @ 100) | 25,000 | 28,526 | |
Nashville and Davidson County Metropolitan Govt. Health & Edl. Facilities Board Rev. (Lipscomb Univ. Proj.) Series 2019 A: | |||
4% 10/1/49 | 2,150,000 | 1,747,120 | |
5.25% 10/1/58 | 1,145,000 | 1,137,724 | |
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 1,895,000 | 1,941,453 | |
Tennessee Energy Acquisition Corp. Bonds (Gas Rev. Proj.) Series A, 4%, tender 5/1/23 (b) | 95,000 | 95,099 | |
Tennessee Hsg. Dev. Agcy. Residential: | |||
Series 2021 1, 3% 7/1/51 | 2,715,000 | 2,675,885 | |
Series 2021 3A, 3% 1/1/52 | 875,000 | 860,322 | |
TOTAL TENNESSEE | 20,284,591 | ||
Texas - 5.2% | |||
Austin Wtr. & Wastewtr. Sys. Rev. Series 2016, 5% 11/15/33 | 1,870,000 | 2,043,319 | |
Central Reg'l. Mobility Auth.: | |||
Series 2018, 5% 1/1/25 | 935,000 | 973,168 | |
Series 2020 B: | |||
4% 1/1/34 | 260,000 | 273,306 | |
4% 1/1/35 | 210,000 | 219,036 | |
4% 1/1/36 | 230,000 | 237,441 | |
4% 1/1/37 | 330,000 | 338,502 | |
4% 1/1/38 | 435,000 | 444,048 | |
4% 1/1/39 | 560,000 | 568,847 | |
4% 1/1/40 | 215,000 | 217,237 | |
5% 1/1/27 | 185,000 | 201,159 | |
5% 1/1/28 | 215,000 | 237,469 | |
5% 1/1/29 | 795,000 | 892,046 | |
5% 1/1/30 | 375,000 | 426,830 | |
5% 1/1/31 | 185,000 | 210,251 | |
5% 1/1/32 | 185,000 | 209,873 | |
5% 1/1/33 | 280,000 | 316,544 | |
Series 2021 B: | |||
5% 1/1/30 | 935,000 | 1,064,230 | |
5% 1/1/32 | 1,195,000 | 1,376,416 | |
5% 1/1/39 | 1,215,000 | 1,339,275 | |
5% 1/1/46 | 3,275,000 | 3,558,044 | |
Series 2021 C, 5% 1/1/27 | 3,525,000 | 3,748,000 | |
Collin County Series 2019, 5% 2/15/26 | 2,165,000 | 2,341,320 | |
Dallas Fort Worth Int'l. Arpt. Rev.: | |||
Series 2020 B: | |||
4% 11/1/34 | 1,320,000 | 1,393,199 | |
4% 11/1/35 | 1,175,000 | 1,218,532 | |
Series 2021 B, 5% 11/1/43 | 975,000 | 1,070,422 | |
Dallas Independent School District Series 2019: | |||
5% 2/15/24 | 655,000 | 672,211 | |
5% 2/15/25 | 935,000 | 983,575 | |
Dallas Wtrwks. & Swr. Sys. Rev. Series 2017, 5% 10/1/46 | 470,000 | 502,613 | |
Denton County Gen. Oblig. Series 2020, 4% 5/15/27 | 1,810,000 | 1,934,783 | |
Denton Independent School District Bonds Series 2014 B: | |||
2%, tender 8/1/24 (b) | 85,000 | 84,617 | |
2%, tender 8/1/24 (b) | 545,000 | 537,016 | |
Fort Worth Gen. Oblig. Series 2016: | |||
5% 3/1/25 | 935,000 | 986,062 | |
5% 3/1/27 | 935,000 | 1,010,124 | |
Harris County Toll Road Rev. Series 2018 A, 5% 8/15/43 | 470,000 | 502,657 | |
Hays Consolidated Independent School District Series 2022: | |||
4% 2/15/38 | 1,000,000 | 1,034,911 | |
4% 2/15/39 | 2,000,000 | 2,061,218 | |
4% 2/15/40 | 2,000,000 | 2,051,142 | |
4% 2/15/41 | 2,000,000 | 2,042,517 | |
5% 2/15/33 | 1,300,000 | 1,545,842 | |
Houston Arpt. Sys. Rev. Series 2018 D, 5% 7/1/39 | 2,035,000 | 2,214,844 | |
Houston Convention and Entertainment Facilities Dept. Hotel Occupancy Tax and Spl. Rev. Series 2019, 5% 9/1/33 | 715,000 | 792,999 | |
Houston Gen. Oblig. Series 2017 A, 5% 3/1/31 | 1,170,000 | 1,288,239 | |
Houston Util. Sys. Rev.: | |||
Series 2017 B, 5% 11/15/35 | 935,000 | 1,019,603 | |
Series 2020 C, 5% 11/15/28 | 2,245,000 | 2,566,578 | |
Series 2021 A: | |||
5% 11/15/26 | 355,000 | 390,933 | |
5% 11/15/28 | 1,480,000 | 1,698,040 | |
Irving Hosp. Auth. Hosp. Rev. Series 2017 A, 5% 10/15/35 | 385,000 | 400,979 | |
Lower Colorado River Auth. Rev. (LCRA Transmission Svcs. Corp. Proj.): | |||
Series 2018: | |||
5% 5/15/43 | 1,405,000 | 1,491,648 | |
5% 5/15/48 | 1,590,000 | 1,677,552 | |
Series 2020, 5% 5/15/28 | 2,105,000 | 2,386,913 | |
Midlothian Independent School District Bonds Series 2013 C, 2%, tender 8/1/24 (b) | 530,000 | 521,094 | |
Newark Higher Ed. Fin. Corp. (Abilene Christian Univ. Proj.) Series 2016 A, 5% 4/1/28 | 1,450,000 | 1,544,818 | |
North East Texas Independent School District Bonds Series 2019, 2.2%, tender 8/1/24 (b) | 325,000 | 321,559 | |
North Texas Tollway Auth. Rev.: | |||
Series 2016 A, 5% 1/1/30 | 700,000 | 748,100 | |
Series 2017 A, 5% 1/1/39 | 3,745,000 | 4,026,560 | |
Series 2018: | |||
4% 1/1/38 | 1,715,000 | 1,723,359 | |
5% 1/1/35 | 470,000 | 513,570 | |
Series 2019 A, 5% 1/1/38 | 4,680,000 | 5,123,526 | |
Series 2019 B, 5% 1/1/25 | 605,000 | 635,131 | |
Series 2021 B, 4% 1/1/33 | 1,870,000 | 2,022,322 | |
Northside Independent School District Bonds Series 2020, 0.7%, tender 6/1/25 (b) | 1,510,000 | 1,425,701 | |
Pasadena Independent School District Bonds Series 2015 B, 1.5%, tender 8/15/24 (b) | 2,175,000 | 2,142,591 | |
San Antonio Elec. & Gas Sys. Rev. Bonds Series 2020, 1.75%, tender 12/1/25 (b) | 10,060,000 | 9,683,235 | |
Tarrant County Series 2022, 5% 7/15/35 | 1,640,000 | 1,928,858 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev.: | |||
Series 2020, 5% 12/1/24 | 515,000 | 538,066 | |
Series 2022: | |||
4% 10/1/42 | 1,185,000 | 1,188,186 | |
4% 10/1/47 | 1,265,000 | 1,238,514 | |
4% 10/1/52 | 2,810,000 | 2,728,443 | |
5% 10/1/36 | 515,000 | 582,279 | |
5% 10/1/40 | 1,870,000 | 2,039,647 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Retirement Facility Rev. (Buckner Retirement Svcs., Inc.) Series 2016 B, 5% 11/15/40 | 890,000 | 912,222 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev. Series 2016 A, 5% 2/15/47 | 7,485,000 | 7,700,578 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Series 2019, 2.95% 7/1/36 | 709,355 | 661,649 | |
Texas Dept. of Hsg. & Cmnty. Affairs Single Family Mtg. Rev. Series 2019 A, 4% 3/1/50 | 655,000 | 667,124 | |
Texas Private Activity Bond Surface Trans. Corp. (LBJ Infrastructure Group LLC I-635 Managed Lanes Proj.) Series 2020 A: | |||
4% 6/30/36 | 770,000 | 766,744 | |
4% 6/30/38 | 1,965,000 | 1,914,938 | |
4% 12/31/39 | 1,640,000 | 1,585,434 | |
Texas Pub. Fin. Auth. Lease Rev. Series 2019, 5% 2/1/25 | 1,075,000 | 1,131,420 | |
Texas State Univ. Sys. Fing. Rev. Series 2019 A, 5% 3/15/25 | 1,405,000 | 1,482,373 | |
Texas Trans. Commission Series 2019 A, 0% 8/1/41 | 1,405,000 | 550,762 | |
Texas Trans. Commission Hwy. Impt. Gen. Oblig. Bonds Series 2014 B, 0.65%, tender 4/1/26 (b) | 8,695,000 | 7,946,769 | |
Texas Wtr. Dev. Board Rev.: | |||
Series 2018 A, 5% 10/15/43 | 935,000 | 1,010,675 | |
Series 2018 B, 5% 4/15/49 | 935,000 | 1,006,727 | |
TOTAL TEXAS | 124,809,104 | ||
Utah - 0.6% | |||
Salt Lake City Arpt. Rev. Series 2021 B: | |||
5% 7/1/46 | 2,305,000 | 2,502,812 | |
5% 7/1/51 | 9,285,000 | 10,015,926 | |
Utah Gen. Oblig. Series 2020, 5% 7/1/26 | 935,000 | 1,024,028 | |
TOTAL UTAH | 13,542,766 | ||
Vermont - 0.1% | |||
Vermont Hsg. Fin. Agcy.: | |||
Series 2021 B, 3% 11/1/51 | 1,021,000 | 1,001,272 | |
Series 2022 A, 5.25% 11/1/52 | 1,000,000 | 1,083,375 | |
Series A, 3.75% 11/1/50 | 1,401,000 | 1,410,506 | |
TOTAL VERMONT | 3,495,153 | ||
Virginia - 0.3% | |||
Lynchburg Econ. Dev. Series 2021, 3% 1/1/51 | 1,550,000 | 1,149,280 | |
Roanoke Econ. Dev. Auth. Edl. Facilities Series 2018 A, 5% 9/1/27 | 470,000 | 503,543 | |
Salem Econ. Dev. Auth. Series 2020: | |||
4% 4/1/38 | 260,000 | 248,669 | |
4% 4/1/39 | 235,000 | 222,420 | |
4% 4/1/40 | 260,000 | 243,467 | |
4% 4/1/45 | 700,000 | 629,483 | |
5% 4/1/24 | 280,000 | 285,683 | |
5% 4/1/26 | 330,000 | 346,919 | |
5% 4/1/27 | 330,000 | 351,479 | |
5% 4/1/28 | 410,000 | 441,743 | |
5% 4/1/29 | 540,000 | 587,253 | |
5% 4/1/49 | 935,000 | 953,932 | |
York County Econ. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2009 A, 1.9%, tender 6/1/23 (b) | 280,000 | 278,363 | |
TOTAL VIRGINIA | 6,242,234 | ||
Washington - 2.9% | |||
King County Gen. Oblig. Series 2021 A, 2% 1/1/36 | 1,700,000 | 1,395,056 | |
King County Hsg. Auth. Rev. Series 2021, 4% 12/1/29 | 675,000 | 713,984 | |
King County Swr. Rev. Bonds Series 2020 B, 0.875%, tender 1/1/26 (b) | 2,150,000 | 1,997,628 | |
Port of Seattle Rev. Series 2015 B, 5% 3/1/25 | 235,000 | 244,189 | |
Spokane Pub. Facilities District Hotel/Motel Tax & Sales/Use Tax Rev. Series 2017, 5% 12/1/38 | 1,100,000 | 1,161,620 | |
Washington Convention Ctr. Pub. Facilities Series 2021, 4% 7/1/31 | 9,195,000 | 8,621,835 | |
Washington Gen. Oblig.: | |||
Series 2016 C, 5% 2/1/39 | 2,395,000 | 2,537,522 | |
Series 2017 D, 5% 2/1/35 | 470,000 | 513,226 | |
Series 2018 C, 5% 2/1/41 | 935,000 | 1,014,515 | |
Series 2021 A, 5% 8/1/43 | 840,000 | 934,544 | |
Series 2021 E, 5% 6/1/37 | 4,780,000 | 5,497,267 | |
Series 2022 A, 5% 8/1/35 | 8,445,000 | 9,906,241 | |
Series 2023 A, 5% 8/1/41 | 6,875,000 | 7,883,126 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Overlake Hosp. Med. Ctr., WA. Proj.) Series 2017 B: | |||
5% 7/1/31 | 40,000 | 43,205 | |
5% 7/1/42 | 525,000 | 537,037 | |
(Virginia Mason Med. Ctr. Proj.) Series 2017: | |||
5% 8/15/25 | 230,000 | 239,440 | |
5% 8/15/26 | 210,000 | 222,305 | |
Series 2017 A, 4% 7/1/42 | 5,410,000 | 5,413,638 | |
Series 2017: | |||
4% 8/15/42 | 6,550,000 | 6,059,554 | |
5% 8/15/36 | 470,000 | 482,602 | |
Series 2020: | |||
5% 9/1/38 | 1,870,000 | 2,008,085 | |
5% 9/1/45 | 2,105,000 | 2,224,664 | |
5% 9/1/50 | 2,340,000 | 2,465,330 | |
Washington Higher Ed. Facilities Auth. Rev.: | |||
(Gonzaga Univ. Proj.) Series 2019 A, 3% 4/1/49 | 2,625,000 | 1,996,995 | |
(Whitworth Univ. Proj.): | |||
Series 2016 A: | |||
5% 10/1/25 | 400,000 | 418,402 | |
5% 10/1/26 | 1,880,000 | 1,998,689 | |
5% 10/1/34 | 1,415,000 | 1,477,185 | |
Series 2019, 4% 10/1/49 | 1,515,000 | 1,339,272 | |
TOTAL WASHINGTON | 69,347,156 | ||
Wisconsin - 1.9% | |||
Pub. Fin. Auth. Edl. Facilities: | |||
Series 2018 A: | |||
5.25% 10/1/43 | 495,000 | 498,976 | |
5.25% 10/1/48 | 495,000 | 495,733 | |
Series 2022 A: | |||
5.25% 3/1/42 | 935,000 | 965,347 | |
5.25% 3/1/47 | 6,175,000 | 6,328,919 | |
Pub. Fin. Auth. Hosp. Rev. Series 2019 A, 5% 10/1/44 | 1,350,000 | 1,398,378 | |
Pub. Fin. Auth. Sr. Living Rev. (Mary's Woods At Marylhurst, Inc. Proj.) Series 2017 A: | |||
5.25% 5/15/42 (c) | 840,000 | 786,712 | |
5.25% 5/15/47 (c) | 1,225,000 | 1,118,393 | |
Roseman Univ. of Health: | |||
Series 2020, 5% 4/1/50 (c) | 395,000 | 371,571 | |
Series 2021 A: | |||
3% 7/1/50 | 1,385,000 | 1,048,094 | |
4.5% 6/1/56 (c) | 5,360,000 | 4,100,655 | |
Series 2021 B, 6.5% 6/1/56 (c) | 1,815,000 | 1,503,047 | |
Wisconsin Gen. Oblig.: | |||
Series 2014 4, 5% 5/1/25 | 1,160,000 | 1,213,558 | |
Series 2021 A: | |||
5% 5/1/33 | 475,000 | 536,768 | |
5% 5/1/36 | 5,320,000 | 5,885,617 | |
Series 2022 A, 5% 5/1/34 | 3,745,000 | 4,445,324 | |
Wisconsin Health & Edl. Facilities: | |||
Series 2018, 5% 4/1/34 | 1,870,000 | 2,090,552 | |
Series 2019 A: | |||
5% 11/1/25 | 225,000 | 221,363 | |
5% 11/1/29 | 160,000 | 153,525 | |
5% 12/1/30 | 280,000 | 312,638 | |
5% 12/1/31 | 280,000 | 312,292 | |
5% 12/1/32 | 330,000 | 367,261 | |
5% 12/1/33 | 330,000 | 366,073 | |
5% 12/1/34 | 330,000 | 363,465 | |
5% 12/1/35 | 420,000 | 458,100 | |
5% 7/1/44 | 470,000 | 481,371 | |
5% 11/1/46 | 1,350,000 | 1,135,157 | |
5% 7/1/49 | 1,870,000 | 1,904,351 | |
Series 2019 B, 5% 7/1/38 | 330,000 | 341,419 | |
Series 2019 B1, 2.825% 11/1/28 | 340,000 | 303,911 | |
Series 2019 B2, 2.55% 11/1/27 | 185,000 | 175,345 | |
Series 2019: | |||
5% 10/1/24 | 255,000 | 265,004 | |
5% 10/1/26 | 515,000 | 560,728 | |
Wisconsin Health & Edl. Facilities Auth. Rev. Series 2021, 3% 10/15/37 | 1,545,000 | 1,385,312 | |
Wisconsin Hsg. & Econ. Dev. Auth.: | |||
Series 2021 A, 3% 3/1/52 | 805,000 | 792,531 | |
Series 2021 C, 3% 9/1/52 | 1,190,000 | 1,170,784 | |
Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev. Bonds Series 2021 C: | |||
0.61%, tender 5/1/24 (b) | 215,000 | 206,346 | |
0.81%, tender 5/1/25 (b) | 715,000 | 680,983 | |
TOTAL WISCONSIN | 44,745,603 | ||
Wyoming - 0.1% | |||
Wyoming Cmnty. Dev. Auth. Hsg. Rev. Series 2019 3, 3.75% 12/1/49 | 2,025,000 | 2,031,474 | |
TOTAL MUNICIPAL BONDS (Cost $2,281,554,851) | 2,208,486,256 | ||
Municipal Notes - 0.4% | |||
Principal Amount (a) | Value ($) | ||
Arizona - 0.2% | |||
Arizona St Indl. Dev. Auth. Multi Participating VRDN Series MIZ 91 18, 1.32% 2/1/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(e)(f) | 4,450,000 | 4,450,000 | |
Texas - 0.2% | |||
Lower Neches Valley Auth. Indl. Dev. Corp. Rev. (ExxonMobil Proj.) Series 2012, 1.12% 2/1/23, VRDN (b) | 4,535,000 | 4,535,000 | |
TOTAL MUNICIPAL NOTES (Cost $8,985,000) | 8,985,000 | ||
Money Market Funds - 8.2% | |||
Shares | Value ($) | ||
Fidelity Tax-Free Cash Central Fund 1.39% (g)(h) (Cost $198,071,424) | 198,014,056 | 198,073,458 | |
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $2,488,611,275) | 2,415,544,714 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (5,419,251) |
NET ASSETS - 100.0% | 2,410,125,463 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $21,713,642 or 0.9% of net assets. |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | Provides evidence of ownership in one or more underlying municipal bonds. |
(f) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(g) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Tax-Free Cash Central Fund. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Tax-Free Cash Central Fund 1.39% | 132,221,448 | 971,501,006 | 905,649,000 | 1,447,212 | 1,281 | (1,277) | 198,073,458 | 19.4% |
Total | 132,221,448 | 971,501,006 | 905,649,000 | 1,447,212 | 1,281 | (1,277) | 198,073,458 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 2,217,471,256 | - | 2,217,471,256 | - |
Money Market Funds | 198,073,458 | 198,073,458 | - | - |
Total Investments in Securities: | 2,415,544,714 | 198,073,458 | 2,217,471,256 | - |
Statement of Assets and Liabilities | ||||
January 31, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | $ | |||
Unaffiliated issuers (cost $2,290,539,851) | 2,217,471,256 | |||
Fidelity Central Funds (cost $198,071,424) | 198,073,458 | |||
Total Investment in Securities (cost $2,488,611,275) | $ | 2,415,544,714 | ||
Cash | 1,849,053 | |||
Receivable for fund shares sold | 5,098,884 | |||
Interest receivable | 22,498,052 | |||
Distributions receivable from Fidelity Central Funds | 280,483 | |||
Prepaid expenses | 1,768 | |||
Receivable from investment adviser for expense reductions | 196,418 | |||
Other receivables | 1,849 | |||
Total assets | 2,445,471,221 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $4,629,194 | |||
Delayed delivery | 23,676,390 | |||
Payable for fund shares redeemed | 1,114,025 | |||
Distributions payable | 5,182,590 | |||
Accrued management fee | 682,611 | |||
Other payables and accrued expenses | 60,948 | |||
Total Liabilities | 35,345,758 | |||
Net Assets | $ | 2,410,125,463 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,512,927,907 | ||
Total accumulated earnings (loss) | (102,802,444) | |||
Net Assets | $ | 2,410,125,463 | ||
Net Asset Value , offering price and redemption price per share ($2,410,125,463 ÷ 241,004,635 shares) | $ | 10.00 | ||
Statement of Operations | ||||
Year ended January 31, 2023 | ||||
Investment Income | ||||
Interest | $ | 54,520,437 | ||
Income from Fidelity Central Funds | 1,445,089 | |||
Total Income | 55,965,526 | |||
Expenses | ||||
Management fee | $ | 7,553,707 | ||
Custodian fees and expenses | 22,130 | |||
Independent trustees' fees and expenses | 7,434 | |||
Registration fees | 669,009 | |||
Audit | 65,924 | |||
Legal | 2,987 | |||
Miscellaneous | 9,205 | |||
Total expenses before reductions | 8,330,396 | |||
Expense reductions | (2,939,399) | |||
Total expenses after reductions | 5,390,997 | |||
Net Investment income (loss) | 50,574,529 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (29,878,438) | |||
Redemptions in-kind | (10,160,414) | |||
Fidelity Central Funds | 1,281 | |||
Capital gain distributions from Fidelity Central Funds | 2,123 | |||
Total net realized gain (loss) | (40,035,448) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (91,701,326) | |||
Fidelity Central Funds | (1,277) | |||
Total change in net unrealized appreciation (depreciation) | (91,702,603) | |||
Net gain (loss) | (131,738,051) | |||
Net increase (decrease) in net assets resulting from operations | $ | (81,163,522) |
Statement of Changes in Net Assets | ||||
Year ended January 31, 2023 | Year ended January 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 50,574,529 | $ | 36,279,553 |
Net realized gain (loss) | (40,035,448) | 1,260,034 | ||
Change in net unrealized appreciation (depreciation) | (91,702,603) | (71,420,547) | ||
Net increase (decrease) in net assets resulting from operations | (81,163,522) | (33,880,960) | ||
Distributions to shareholders | (50,249,974) | (36,466,591) | ||
Share transactions | ||||
Proceeds from sales of shares | 7,092,031,431 | 2,075,633,983 | ||
Reinvestment of distributions | 1,421,586 | 1,779,197 | ||
Cost of shares redeemed | (6,717,430,416) | (1,639,170,620) | ||
Net increase (decrease) in net assets resulting from share transactions | 376,022,601 | 438,242,560 | ||
Total increase (decrease) in net assets | 244,609,105 | 367,895,009 | ||
Net Assets | ||||
Beginning of period | 2,165,516,358 | 1,797,621,349 | ||
End of period | $ | 2,410,125,463 | $ | 2,165,516,358 |
Other Information | ||||
Shares | ||||
Sold | 715,122,762 | 190,831,072 | ||
Issued in reinvestment of distributions | 141,280 | 163,167 | ||
Redeemed | (678,388,942) | (150,683,639) | ||
Net increase (decrease) | 36,875,100 | 40,310,600 | ||
Fidelity® SAI Tax-Free Bond Fund |
Years ended January 31, | 2023 | 2022 | 2021 | 2020 | 2019 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.61 | $ | 10.97 | $ | 10.89 | $ | 10.19 | $ | 10.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .230 | .194 | .215 | .241 | .081 | |||||
Net realized and unrealized gain (loss) | (.613) | (.359) | .085 | .735 | .176 | |||||
Total from investment operations | (.383) | (.165) | .300 | .976 | .257 | |||||
Distributions from net investment income | (.227) | (.194) | (.216) | (.248) | (.067) | |||||
Distributions from net realized gain | - | (.001) | (.004) | (.028) | - | |||||
Total distributions | (.227) | (.195) | (.220) | (.276) | (.067) | |||||
Net asset value, end of period | $ | 10.00 | $ | 10.61 | $ | 10.97 | $ | 10.89 | $ | 10.19 |
Total Return D,E | (3.55)% | (1.53)% | 2.83% | 9.68% | 2.58% | |||||
Ratios to Average Net Assets C,F,G | ||||||||||
Expenses before reductions | .38% | .36% | .36% | .43% | .60% H,I | |||||
Expenses net of fee waivers, if any | .25% | .25% | .25% | .25% | .25% I | |||||
Expenses net of all reductions | .25% | .25% | .25% | .25% | .25% I | |||||
Net investment income (loss) | 2.33% | 1.78% | 2.02% | 2.28% | 2.38% I | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 2,410,125 | $ | 2,165,516 | $ | 1,797,621 | $ | 1,603,522 | $ | 489,517 |
Portfolio turnover rate J | 23% K | 6% | 32% | 12% | 2% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $30,942,429 |
Gross unrealized depreciation | (103,671,895) |
Net unrealized appreciation (depreciation) | $(72,729,466) |
Tax Cost | $2,488,274,180 |
Capital loss carryforward | $(30,011,766) |
Net unrealized appreciation (depreciation) on securities and other investments | $(72,729,466) |
Short-term | $(8,864,320) |
Long-term | (21,147,446) |
Total capital loss carryforward | $(30,011,766) |
January 31, 2023 | January 31, 2022 | |
Tax-exempt Income | $50,249,974 | $36,271,346 |
Long-term Capital Gains | - | 195,245 |
Total | $50,249,974 | $36,466,591 |
Purchases ($) | Sales ($) | |
Fidelity SAI Tax-Free Bond Fund | 920,820,482 | 473,521,929 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity SAI Tax-Free Bond Fund | - | 7,232,365 | 2,259 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity SAI Tax-Free Bond Fund | 13,577,568 | (10,160,414) | 131,430,855 |
Amount | |
Fidelity SAI Tax-Free Bond Fund | $3,831 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2022 to January 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2022 | Ending Account Value January 31, 2023 | Expenses Paid During Period- C August 1, 2022 to January 31, 2023 | |||||||
Fidelity® SAI Tax-Free Bond Fund | .25% | |||||||||
Actual | $ 1,000 | $ 1,009.00 | $ 1.27 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.95 | $ 1.28 | |||||||
![](https://capedge.com/proxy/N-CSR/0000035315-23-000161/img88782_7.jpg)
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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Item 2.
Code of Ethics
As of the end of the period, January 31, 2023, Fidelity Salem Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Elizabeth S. Acton is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Acton is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity SAI Tax-Free Bond Fund, Fidelity Series Large Cap Value Index Fund, and Fidelity Tax-Free Bond Fund (the “Funds”):
Services Billed by Deloitte Entities
January 31, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity SAI Tax-Free Bond Fund | $48,800 | $- | $9,600 | $1,100 |
Fidelity Series Large Cap Value Index Fund | $44,500 | $- | $9,700 | $1,100 |
Fidelity Tax-Free Bond Fund | $50,200 | $- | $9,200 | $1,100 |
January 31, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity SAI Tax-Free Bond Fund | $48,400 | $- | $7,500 | $1,100 |
Fidelity Series Large Cap Value Index Fund | $44,100 | $- | $9,300 | $1,000 |
Fidelity Tax-Free Bond Fund | $49,800 | $- | $7,200 | $1,100 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity SAI Sustainable Conservative Income Municipal Bond Fund, Fidelity SAI Sustainable Municipal Income Fund, and Fidelity Sustainable Intermediate Municipal Income Fund (the “Funds”):
Services Billed by PwC
January 31, 2023 FeesA,B
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity SAI Sustainable Conservative Income Municipal Bond Fund | $39,500 | $1,800 | $5,400 | $800 |
Fidelity SAI Sustainable Municipal Income Fund | $43,400 | $2,500 | $5,400 | $1,100 |
Fidelity Sustainable Intermediate Municipal Income Fund | $42,200 | $2,600 | $5,400 | $1,100 |
January 31, 2022 FeesB
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity SAI Sustainable Conservative Income Municipal Bond Fund | $- | $- | $- | $- |
Fidelity SAI Sustainable Municipal Income Fund | $- | $- | $- | $- |
Fidelity Sustainable Intermediate Municipal Income Fund | $- | $- | $- | $- |
A Amounts may reflect rounding.
B Fidelity SAI Sustainable Municipal Income Fund, and Fidelity Sustainable Intermediate
Municipal Income Fund commenced operations on April 13, 2022. Fidelity SAI Sustainable Conservative Income Municipal Bond Fund commenced operations on June 16, 2022.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
January 31, 2023A | January 31, 2022A | |
Audit-Related Fees | $- | $- |
Tax Fees | $- | $- |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
Services Billed by PwC
January 31, 2023A,B | January 31, 2022A,B | |
Audit-Related Fees | $7,914,600 | $8,239,800 |
Tax Fees | $1,000 | $354,200 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity SAI Sustainable Conservative Income Municipal Bond Fund, Fidelity SAI Sustainable Municipal Income Fund, and Fidelity Sustainable Intermediate Municipal Income Fund’s commencement of operations.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | January 31, 2023A,B | January 31, 2022A,B |
Deloitte Entities | $489,400 | $548,800 |
PwC | $12,909,100 | $13,836,700 |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity SAI Sustainable Conservative Income Municipal Bond Fund, Fidelity SAI Sustainable Intermediate Municipal Income Fund, and Fidelity Sustainable Intermediate Municipal Income Fund’s commencement of operations.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service
provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
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.
Fidelity Salem Street Trust
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | March 23, 2023 |
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: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | March 23, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | March 23, 2023 |