Quarterly Holdings Report
for
Fidelity® SAI Sustainable Conservative Income Municipal Bond Fund
April 30, 2024
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.
SMB-NPRT1-0624
1.9905580.101
Municipal Bonds - 50.8% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 2.3% | |||
Black Belt Energy Gas District: | |||
Series 2022 C1: | |||
5.25% 12/1/24 | 5,000 | 5,022 | |
5.25% 12/1/25 | 5,000 | 5,072 | |
Series 2022 E: | |||
5% 6/1/24 | 50,000 | 50,018 | |
5% 6/1/25 | 50,000 | 50,349 | |
5% 6/1/26 | 50,000 | 50,737 | |
Mobile Indl. Dev. Board Poll. Cont. Rev. Bonds (Alabama Pwr. Co. Barry Plant Proj.) Series 2008, 3.65%, tender 1/10/25 (b) | 150,000 | 149,353 | |
Southeast Alabama Gas Supply District Bonds (Proj. No. 2) Series 2018 A, 4%, tender 6/1/24 (b) | 35,000 | 34,990 | |
TOTAL ALABAMA | 345,541 | ||
Arizona - 2.8% | |||
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.): | |||
Series 2019, 5%, tender 6/3/24 (b)(c) | 80,000 | 80,030 | |
Series 2022 2, 5%, tender 9/1/27 (b)(c) | 50,000 | 51,063 | |
Maricopa County Indl. Dev. Auth. Series 2024 D, 5% 12/1/27 (d) | 150,000 | 156,693 | |
Salt River Proj. Agricultural Impt. & Pwr. District Elec. Sys. Rev. Series 2017 A, 5% 1/1/25 | 140,000 | 141,307 | |
TOTAL ARIZONA | 429,093 | ||
California - 5.3% | |||
California Health Facilities Fing. Auth. Rev. Bonds Series 2016 B2, 4%, tender 10/1/24 (b) | 50,000 | 49,929 | |
California Muni. Fin. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2021 A, 4%, tender 10/1/24 (b)(c) | 150,000 | 149,890 | |
(Waste Mgmt., Inc. Proj.) Series 2017 A, 4.25%, tender 12/2/24 (b)(c) | 100,000 | 99,924 | |
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2017 A1, 4.05%, tender 7/15/24 (b)(c)(e) | 150,000 | 149,987 | |
Los Angeles Dept. Arpt. Rev. Series 2023 A, 5% 5/15/26 (c) | 200,000 | 205,108 | |
Los Angeles Unified School District Series 2024 A, 5% 7/1/25 | 150,000 | 152,760 | |
TOTAL CALIFORNIA | 807,598 | ||
Colorado - 1.0% | |||
Colorado Health Facilities Auth. Rev. Bonds Bonds Series 2022 B, 5%, tender 8/17/26 (b) | 150,000 | 154,327 | |
Connecticut - 2.0% | |||
Connecticut Gen. Oblig. Series 2016 B, 5% 5/15/25 | 10,000 | 10,162 | |
Connecticut Health & Edl. Facilities Auth. Rev. Bonds: | |||
Series 2010 A3, 2.95%, tender 7/1/27 (b) | 150,000 | 147,223 | |
Series 2017 C2, 2.8%, tender 2/3/26 (b) | 150,000 | 146,855 | |
TOTAL CONNECTICUT | 304,240 | ||
District Of Columbia - 0.6% | |||
Washington Metropolitan Area Transit Auth. Series 2023 A, 5% 7/15/24 | 100,000 | 100,218 | |
Florida - 3.3% | |||
Duval County School Board Ctfs. of Prtn. Series 2022 A, 5% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 100,000 | 103,415 | |
Miami Dade County Hsg. Multifamily Hsg. Rev. Bonds: | |||
Series 2023, 3.55%, tender 1/1/26 (b) | 50,000 | 49,143 | |
Series 2024, 3.4%, tender 10/1/26 (b) | 100,000 | 98,188 | |
Miami-Dade County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds Series 2011, 5%, tender 11/1/24 (b)(c) | 50,000 | 50,053 | |
Orange County Health Facilities Auth. Bonds Series 2021 C, 5%, tender 11/15/26 (b) | 100,000 | 103,016 | |
Polk County Hsg. Fin. Auth. Multi-family Hsg. Rev. Bonds Series 2023, 4.15%, tender 6/1/26 (b) | 100,000 | 100,194 | |
TOTAL FLORIDA | 504,009 | ||
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 | 97,645 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Vogtle Proj.): | |||
Series 1994 9, 3.8%, tender 5/21/26 (b) | 100,000 | 100,010 | |
Series 2013 1, 3.375%, tender 3/12/27 (b) | 10,000 | 9,862 | |
Main Street Natural Gas, Inc.: | |||
Bonds Series 2021 A, 4%, tender 9/1/27 (b) | 150,000 | 149,750 | |
Series 2024 A1, 5% 3/1/27 | 100,000 | 101,966 | |
Monroe County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Scherer Proj.) Series 2009, 3.875%, tender 3/6/26 (b) | 90,000 | 90,128 | |
TOTAL GEORGIA | 549,361 | ||
Hawaii - 0.7% | |||
Honolulu City & County Multi-family housing Rev. Bonds Series 2023, 5%, tender 6/1/26 (b) | 100,000 | 101,954 | |
Illinois - 3.9% | |||
Illinois Fin. Auth. Series 2022 A, 5% 10/1/24 | 100,000 | 99,866 | |
Illinois Gen. Oblig.: | |||
Series 2016, 5% 2/1/27 | 80,000 | 82,734 | |
Series 2017 D: | |||
5% 11/1/24 | 200,000 | 200,961 | |
5% 11/1/26 | 5,000 | 5,156 | |
Series 2022 B, 5% 3/1/25 | 100,000 | 100,841 | |
Series 2023 C, 5% 5/1/25 | 100,000 | 101,072 | |
TOTAL ILLINOIS | 590,630 | ||
Kentucky - 1.0% | |||
Kentucky Econ. Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series A, 4.2%, tender 6/3/24 (b)(c) | 150,000 | 149,919 | |
Maryland - 0.3% | |||
Maryland Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev. Series 2023 D, 3.5% 1/1/26 | 50,000 | 49,283 | |
Massachusetts - 1.3% | |||
Massachusetts Edl. Fing. Auth. Rev.: | |||
Series 2014 I, 5% 1/1/25 (c) | 100,000 | 100,638 | |
Series 2018 B, 5% 7/1/25 (c) | 100,000 | 101,231 | |
TOTAL MASSACHUSETTS | 201,869 | ||
Michigan - 1.6% | |||
Coopersville Area Pub. Schools Series 2022 I: | |||
4% 5/1/26 | 30,000 | 30,295 | |
5% 5/1/25 | 110,000 | 111,458 | |
Michigan Hosp. Fin. Auth. Rev. Series 1999 B3, 4% 11/15/26 | 110,000 | 111,746 | |
TOTAL MICHIGAN | 253,499 | ||
Nebraska - 0.7% | |||
Central Plains Energy Proj. Rev. Bonds Series 2019, 4%, tender 8/1/25 (b) | 105,000 | 105,233 | |
Nevada - 0.6% | |||
Nevada Dept. of Bus. & Industry Bonds (Republic Svcs., Inc. Proj.) Series 2001, 4.5%, tender 6/3/24 (b)(c)(e) | 100,000 | 99,964 | |
New Hampshire - 1.3% | |||
Nat'l. Fin. Auth. Solid Bonds (Waste Mgmt., Inc. Proj.) Series 2019 A1, 2.15%, tender 7/1/24 (b)(c) | 100,000 | 99,629 | |
New Hampshire St Hsg. Fin. Series 2023 3, 3.85% 1/1/27 | 100,000 | 99,568 | |
TOTAL NEW HAMPSHIRE | 199,197 | ||
New Jersey - 3.3% | |||
New Jersey Econ. Dev. Auth. Series 2024 SSS, 5% 6/15/26 | 100,000 | 102,816 | |
New Jersey Econ. Dev. Auth. Rev. Series 2019, 5.25% 9/1/24 (e) | 100,000 | 100,349 | |
New Jersey Edl. Facility: | |||
(Stevens Institute of Techonolgy Proj.) Series 2017 A, 5% 7/1/25 | 75,000 | 75,838 | |
Series 2016 A, 5% 7/1/24 | 100,000 | 100,126 | |
New Jersey Trans. Trust Fund Auth.: | |||
Series 2006 C, 0% 12/15/26 (AMBAC Insured) | 80,000 | 72,548 | |
Series A, 0% 12/15/26 | 60,000 | 54,411 | |
TOTAL NEW JERSEY | 506,088 | ||
New York - 5.0% | |||
Monroe County Indl. Dev. Agcy. Bonds (Andrews Terrace Cmnty. Partners, L.P. Proj.) Series 2023 B1, 5%, tender 7/1/27 (b) | 50,000 | 51,285 | |
New York City Gen. Oblig. Series 2016 A, 5% 8/1/27 | 155,000 | 157,533 | |
New York City Hsg. Dev. Corp. Multifamily Hsg. Bonds Series 2021 K2, 0.9%, tender 1/1/26 (b) | 165,000 | 154,168 | |
New York Metropolitan Trans. Auth. Rev. Bonds: | |||
Series 2019 A1, 5%, tender 11/15/24 (b) | 100,000 | 100,415 | |
Series 2020 A2, 5%, tender 5/15/24 (b) | 100,000 | 100,032 | |
New York State Hsg. Fin. Agcy. Rev. Bonds Series 2024 A, 3.375%, tender 11/1/27 (b) | 150,000 | 147,649 | |
Triborough Bridge & Tunnel Auth. Bonds Series 2021 A2, 2%, tender 5/15/26 (b) | 55,000 | 52,407 | |
TOTAL NEW YORK | 763,489 | ||
Oregon - 0.9% | |||
Union County Hosp. Facility Auth. Series 2022, 5% 7/1/24 | 135,000 | 135,027 | |
Pennsylvania - 3.3% | |||
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.): | |||
Series 2014, 4%, tender 7/1/24 (b)(c) | 100,000 | 99,979 | |
Series 2019 B2, 4%, tender 7/15/24 (b)(c) | 100,000 | 99,828 | |
(Waste Mgmt., Inc. Proj.) Series 2013, 4.1%, tender 5/1/24 (b)(c) | 150,000 | 150,000 | |
(Waste Mgmt., Inc. Proj.) Series 2021 A2, 4.6%, tender 10/1/26 (b)(c) | 150,000 | 151,876 | |
TOTAL PENNSYLVANIA | 501,683 | ||
Tennessee - 0.6% | |||
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 95,000 | 95,384 | |
Texas - 2.1% | |||
Magnolia Independent School District Series 2023, 5% 8/15/24 | 150,000 | 150,485 | |
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2020 A, 4.1%, tender 5/1/24 (b)(c) | 150,000 | 150,000 | |
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 | 15,360 | |
TOTAL TEXAS | 315,845 | ||
Virginia - 1.2% | |||
Gloucester County Indl. Dev. Auth. Bonds Series 2003 A, 3.95%, tender 5/1/24 (b)(c) | 100,000 | 100,000 | |
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 | 88,826 | |
TOTAL VIRGINIA | 188,826 | ||
Washington - 0.8% | |||
Seattle Hsg. Auth. Rev. (Juniper Apts. Proj.) Series 2023, 5% 6/1/27 | 50,000 | 51,128 | |
Washington Ctfs. of Prtn. Series 2016 A, 5% 7/1/27 | 70,000 | 72,047 | |
TOTAL WASHINGTON | 123,175 | ||
Wisconsin - 1.3% | |||
Pub. Fin. Auth. Health Care Sys. Rev. Series 2023 A, 5% 10/1/24 | 200,000 | 200,921 | |
TOTAL MUNICIPAL BONDS (Cost $7,815,105) | 7,776,373 | ||
Municipal Notes - 48.2% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 8.7% | |||
Black Belt Energy Gas District Participating VRDN Series ZL 03 97, 4.07% 5/7/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 330,000 | 330,000 | |
Health Care Auth. for Baptist Health Series 2013 B, 5.19% 5/7/24, VRDN (b) | 300,000 | 300,000 | |
Mobile Indl. Dev. Board Rev. (Alabama Pwr. Theodore Plant Proj.) Series A, 3.65% 5/1/24, VRDN (b)(c) | 400,000 | 400,000 | |
Southeast Energy Auth. Rev. Participating VRDN Series XG 04 10, 4.07% 5/7/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 300,000 | 300,000 | |
TOTAL ALABAMA | 1,330,000 | ||
Colorado - 0.6% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN Series XM 10 59, 3.92% 5/7/24 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Delaware - 2.5% | |||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.): | |||
Series 1993 C, 3.97% 5/7/24, VRDN (b) | 100,000 | 100,000 | |
Series 1994, 3.69% 5/1/24, VRDN (b)(c) | 280,000 | 280,000 | |
TOTAL DELAWARE | 380,000 | ||
Florida - 1.3% | |||
Orlando Health Participating VRDN Series 026, 4.04% 6/11/24 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 200,000 | 200,000 | |
Georgia - 1.6% | |||
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2012, 3.7% 5/1/24, VRDN (b)(c) | 250,000 | 250,000 | |
Kentucky - 2.0% | |||
Meade County Indl. Bldg. Rev. (Nucor Steel Brandenburg Proj.): | |||
Series 2020 A1, 3.98% 5/1/24, VRDN (b)(c) | 200,000 | 200,000 | |
Series 2020 B1, 3.98% 5/1/24, VRDN (b)(c) | 100,000 | 100,000 | |
TOTAL KENTUCKY | 300,000 | ||
Louisiana - 2.8% | |||
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.): | |||
Series 2010 A1, 4% 5/7/24, VRDN (b) | 100,000 | 100,000 | |
Series 2010 B1, 4.05% 5/7/24, VRDN (b) | 330,000 | 330,000 | |
TOTAL LOUISIANA | 430,000 | ||
Massachusetts - 1.0% | |||
Massachusetts Health & Edl. Facilities Auth. Rev. (Williams College Proj.) Series J, 3.91% 5/7/24, VRDN (b) | 150,000 | 150,000 | |
Minnesota - 2.7% | |||
Minneapolis Health Care Sys. Rev. Participating VRDN Series XM 08 72, 3.92% 5/7/24 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 410,000 | 410,000 | |
New York - 9.0% | |||
Liberty Dev. Corp. Rev. Participating VRDN Series MS 1207, 4.12% 5/7/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 380,000 | 380,000 | |
New York City Gen. Oblig. Series 2012 2, 3.6% 5/8/24, VRDN (b) | 500,000 | 500,000 | |
New York Metropolitan Trans. Auth. Rev. Participating VRDN: | |||
Series XF 13 21, 4.09% 5/7/24 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Series XF 13 55, 4.09% 5/7/24 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 300,000 | 300,000 | |
Series XF 16 49, 4.09% 5/7/24 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
TOTAL NEW YORK | 1,380,000 | ||
Ohio - 3.3% | |||
Allen County Hosp. Facilities Rev. Series 2012 B, 4% 5/7/24 (Liquidity Facility Ohio Gen. Oblig.), VRDN (b) | 500,000 | 500,000 | |
Pennsylvania - 2.7% | |||
Montgomery County Higher Ed. & Health Auth. Rev. Series 2018 D, 4.7% 5/7/24, VRDN (b) | 410,000 | 410,000 | |
South Carolina - 0.7% | |||
South Carolina Jobs-Econ. Dev. Auth. Series 2018 C, 4.58% 5/7/24, VRDN (b) | 100,000 | 100,000 | |
Tennessee - 3.9% | |||
Chattanooga Health Ed. & Hsg. Facility Board Rev. (Catholic Health Initiatives Proj.) Series C, 3.95% 5/7/24, VRDN (b) | 600,000 | 600,001 | |
Texas - 1.3% | |||
Harris County Cultural Ed. Facilities Fin. Corp. Med. Facilities Rev. Participating VRDN Series 2022 006, 4.07% 6/11/24 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 200,000 | 200,000 | |
Virginia - 2.5% | |||
Lynchburg Econ. Dev. Participating VRDN Series XL 00 75, 4.07% 5/7/24 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 385,000 | 385,000 | |
West Virginia - 1.6% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 E, 4.38% 5/7/27, VRDN (b) | 250,000 | 250,000 | |
TOTAL MUNICIPAL NOTES (Cost $7,374,998) | 7,375,001 | ||
Money Market Funds - 0.9% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.61% (h)(i) (Cost $147,417) | 147,388 | 147,432 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $15,337,520) | 15,298,806 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 12,778 |
NET ASSETS - 100.0% | 15,311,584 |
Security Type Abbreviations
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
Legend
(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 or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | 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 $350,300 or 2.3% of net assets. |
(f) | Provides evidence of ownership in one or more underlying municipal bonds. |
(g) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(h) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | 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 3.61% | 343,034 | 287,077 | 482,679 | 1,503 | 20 | (20) | 147,432 | 0.0% |
Total | 343,034 | 287,077 | 482,679 | 1,503 | 20 | (20) | 147,432 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Municipal Bonds and Municipal Notes are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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