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 811-02628
Fidelity Municipal 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: | December 31 |
Date of reporting period: | December 31, 2022 |
Item 1.
Reports to Stockholders
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl.2.75% sales charge) | -7.44% | 0.01% | 0.38% |
Class M (incl.2.75% sales charge) | -7.44% | 0.03% | 0.40% |
Class C (incl. contingent deferred sales charge) | -6.45% | -0.16% | 0.07% |
Fidelity® Limited Term Municipal Income Fund | -4.46% | 0.89% | 0.98% |
Class I | -4.55% | 0.87% | 0.93% |
Class Z | -4.40% | 0.93% | 0.96% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Limited Term Municipal Income Fund, a class of the fund, on December 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Top Five States (% of Fund's net assets) | |
Texas | 11.6 |
Illinois | 9.7 |
New York | 8.1 |
Florida | 6.7 |
New Jersey | 6.2 |
Revenue Sources (% of Fund's net assets) | ||
General Obligations | 26.7% | |
Transportation | 24.2% | |
Health Care | 12.9% | |
Electric Utilities | 6.1% | |
State G.O. | 6.1% | |
Others* (Individually Less Than 5%) | 24.0% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 98.6% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 1.4% | |||
Birmingham Arpt. Auth. Series 2020: | |||
5% 7/1/26 (Build America Mutual Assurance Insured) | 555 | 591 | |
5% 7/1/27 (Build America Mutual Assurance Insured) | 500 | 540 | |
Black Belt Energy Gas District: | |||
Bonds (Proj. No. 5) Series A, 4%, tender 10/1/26 (b) | 4,000 | 3,943 | |
Series 2022 C1: | |||
5.25% 12/1/26 | 1,845 | 1,920 | |
5.25% 6/1/27 | 1,290 | 1,346 | |
5.25% 12/1/27 | 1,170 | 1,224 | |
5.25% 6/1/28 | 1,540 | 1,616 | |
5.25% 12/1/28 | 1,275 | 1,339 | |
5.25% 6/1/29 | 1,000 | 1,048 | |
Mobile County Board of School Commissioners: | |||
Series 2016 A: | |||
5% 3/1/23 | 830 | 832 | |
5% 3/1/24 | 1,225 | 1,253 | |
5% 3/1/25 | 1,225 | 1,281 | |
Series 2016 B, 5% 3/1/24 | 1,210 | 1,237 | |
Mobile Indl. Dev. Board Poll. Cont. Rev. Bonds Series 2009 E, 1%, tender 6/26/25 (b) | 5,030 | 4,770 | |
Southeast Alabama Gas Supply District Bonds (Proj. No. 2) Series 2018 A, 4%, tender 6/1/24 (b) | 2,460 | 2,451 | |
Southeast Energy Auth. Rev. Bonds: | |||
(Proj. No. 2) Series 2021 B1: | |||
4% 6/1/24 | 600 | 601 | |
4% 6/1/25 | 725 | 728 | |
4% 6/1/26 | 1,500 | 1,507 | |
4% 6/1/27 | 2,440 | 2,444 | |
4% 6/1/28 | 3,780 | 3,768 | |
Bonds Series 2022 B1, 5%, tender 8/1/28 (b) | 6,035 | 6,195 | |
TOTAL ALABAMA | 40,634 | ||
Alaska - 0.2% | |||
Alaska Hsg. Fin. Corp. Mtg. Rev. Series 2022 A, 3% 6/1/51 | 1,230 | 1,187 | |
Alaska Muni. Bond Bank Series 2015 B, 5% 3/1/28 (c) | 1,390 | 1,434 | |
Anchorage Gen. Oblig. Series 2014 B, 5% 9/1/24 | 2,030 | 2,099 | |
TOTAL ALASKA | 4,720 | ||
Arizona - 3.9% | |||
Arizona Board of Regents Arizona State Univ. Rev.: | |||
Series 2016 A, 5% 7/1/26 | 275 | 290 | |
Series 2021: | |||
5% 8/1/26 | 1,100 | 1,188 | |
5% 8/1/27 | 1,500 | 1,650 | |
Arizona Ctfs. of Prtn. Series 2019 A, 5% 10/1/24 (Escrowed to Maturity) | 2,025 | 2,103 | |
Arizona Health Facilities Auth. Rev. (Scottsdale Lincoln Hospitals Proj.) Series 2014 A: | |||
5% 12/1/23 | 980 | 996 | |
5% 12/1/24 | 1,465 | 1,519 | |
Arizona Indl. Dev. Auth. Hosp. Rev. Series 2021 A: | |||
5% 2/1/24 | 1,200 | 1,225 | |
5% 2/1/25 | 1,100 | 1,146 | |
5% 2/1/26 | 1,200 | 1,276 | |
5% 2/1/27 | 1,200 | 1,299 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev.: | |||
(Intel Corp. Proj.) Series 2022 2, 5%, tender 9/1/27 (b)(c) | 8,765 | 9,147 | |
Bonds (Intel Corp. Proj.): | |||
Series 2005, 2.4%, tender 8/14/23 (b) | 1,625 | 1,612 | |
Series 2007, 2.7%, tender 8/14/23 (b)(c) | 13,435 | 13,347 | |
Series 2019, 5%, tender 6/3/24 (b)(c) | 40,560 | 41,203 | |
Coconino County Poll. Cont. Corp. Rev. Bonds Series 2017 B, 1.65%, tender 3/31/23 (b) | 1,505 | 1,498 | |
Glendale Union School District 205 Series A: | |||
5% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 200 | 215 | |
5% 7/1/27 (Assured Guaranty Muni. Corp. Insured) | 250 | 273 | |
Maricopa County Indl. Dev. Auth. Sr. Living Facilities (Christian Care Surprise, Inc. Proj.) Series 2016, 5% 1/1/26 (d) | 985 | 906 | |
Maricopa County Rev.: | |||
Bonds Series 2019 D, 5%, tender 5/15/26 (b) | 5,155 | 5,473 | |
Series 2016 A, 5% 1/1/25 | 4,725 | 4,912 | |
Maricopa County Spl. Health Care District Gen. Oblig. Series 2021 D: | |||
5% 7/1/25 | 1,165 | 1,228 | |
5% 7/1/26 | 3,000 | 3,227 | |
Maricopa County Unified School District #48 Scottsdale Series D: | |||
4% 7/1/24 | 1,000 | 1,018 | |
4% 7/1/25 | 800 | 825 | |
4% 7/1/26 | 900 | 940 | |
4% 7/1/27 | 225 | 238 | |
Phoenix Civic Impt. Board Arpt. Rev.: | |||
Series 2017 D, 5% 7/1/25 | 2,110 | 2,224 | |
Series 2019 B: | |||
5% 7/1/24 (c) | 1,550 | 1,585 | |
5% 7/1/25 (c) | 1,500 | 1,557 | |
Phoenix Civic Impt. Corp. Series 2019 B, 5% 7/1/28 | 1,910 | 2,091 | |
Tucson Ctfs. of Prtn. Series 2016, 5% 7/1/27 (Assured Guaranty Muni. Corp. Insured) | 1,245 | 1,334 | |
Univ. of Arizona Univ. Revs. Series 2019 A, 5% 6/1/26 | 1,250 | 1,347 | |
Western Maricopa Ed. Ctr. District Series 2019 B, 5% 7/1/26 | 2,000 | 2,152 | |
TOTAL ARIZONA | 111,044 | ||
California - 3.8% | |||
Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Bonds: | |||
Series 2021 A, 2%, tender 4/1/28 (b) | 7,365 | 6,805 | |
Series A, 2.95%, tender 4/1/26 (b) | 5,000 | 4,946 | |
Series B, 2.85%, tender 4/1/25 (b) | 4,090 | 4,053 | |
California Gen. Oblig.: | |||
Series 2017, 5% 8/1/26 | 1,200 | 1,301 | |
Series 2020, 4% 11/1/26 | 700 | 735 | |
California Muni. Fin. Auth. Ctfs. of Prtn. Series 2021, 5% 11/1/27 (d) | 1,500 | 1,553 | |
California Muni. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2017 A, 0.7%, tender 12/1/23 (b)(c) | 4,005 | 3,882 | |
California Pub. Works Board Lease Rev. (Various Cap. Projs.) Series 2022 C, 5% 8/1/24 | 965 | 1,000 | |
Golden State Tobacco Securitization Corp. Tobacco Settlement Rev.: | |||
Series 2015 A, 5% 6/1/40 (Pre-Refunded to 6/1/25 @ 100) | 9,380 | 9,926 | |
Series 2017 A1, 5% 6/1/24 (Escrowed to Maturity) | 1,085 | 1,122 | |
Series A, 0% 6/1/24 (Escrowed to Maturity) | 3,390 | 3,258 | |
Los Angeles County Pub. Works Fing. Auth. Lease Rev. Series 2022 G, 5% 12/1/24 | 1,500 | 1,568 | |
Los Angeles Dept. Arpt. Rev.: | |||
Series 2016 A: | |||
5% 5/15/24 (c) | 890 | 911 | |
5% 5/15/24 (Escrowed to Maturity) (c) | 120 | 123 | |
5% 5/15/25 (c) | 880 | 913 | |
5% 5/15/25 (Escrowed to Maturity) (c) | 120 | 126 | |
Series 2017 B, 5% 5/15/25 (c) | 2,265 | 2,349 | |
Series 2018 B: | |||
5% 5/15/25 (c) | 1,305 | 1,355 | |
5% 5/15/26 (c) | 1,545 | 1,631 | |
Series 2018 C, 5% 5/15/27 (c) | 1,615 | 1,714 | |
Series 2020 C, 5% 5/15/26 (c) | 2,645 | 2,792 | |
Northern California Energy Auth. Bonds Series 2018, 4%, tender 7/1/24 (b) | 10,000 | 9,992 | |
Oakland Unified School District Alameda County Series 2013, 5.5% 8/1/23 | 515 | 522 | |
Palomar Health Rev. Series 2016: | |||
5% 11/1/23 | 1,955 | 1,978 | |
5% 11/1/24 | 1,955 | 2,004 | |
5% 11/1/25 | 1,000 | 1,040 | |
Port of Oakland Rev.: | |||
Series 2021 H, 5% 5/1/28 (c) | 1,000 | 1,072 | |
Series H: | |||
5% 5/1/26 (c) | 1,830 | 1,915 | |
5% 5/1/27 (c) | 3,400 | 3,602 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Series 2020 C, 5% 7/1/26 (c) | 1,000 | 1,050 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
Series 2019 A: | |||
5% 1/1/24 (c) | 1,660 | 1,683 | |
5% 1/1/27 (c) | 2,405 | 2,538 | |
Series 2022 A: | |||
5% 5/1/26 (c) | 4,535 | 4,761 | |
5% 5/1/27 (c) | 4,590 | 4,862 | |
5% 5/1/28 (c) | 6,130 | 6,541 | |
5% 5/1/29 (c) | 4,100 | 4,405 | |
San Pablo Redev. Agcy. Series 2014 A, 5% 6/15/24 (Assured Guaranty Muni. Corp. Insured) | 1,350 | 1,390 | |
Southern California Pub. Pwr. Auth. Rev. Bonds Series 2020 C, 0.65%, tender 7/1/25 (b) | 8,000 | 7,472 | |
TOTAL CALIFORNIA | 108,890 | ||
Colorado - 1.7% | |||
Colorado Health Facilities Auth. Rev. Bonds Bonds Series 2019 B: | |||
5%, tender 8/1/25 (b) | 2,950 | 3,037 | |
5%, tender 8/1/26 (b) | 2,035 | 2,125 | |
5%, tender 11/19/26 (b) | 615 | 663 | |
5%, tender 11/19/26 (b) | 6,065 | 6,424 | |
Colorado Hsg. & Fin. Auth.: | |||
Series 2019 F, 4.25% 11/1/49 | 1,210 | 1,221 | |
Series 2019 H, 4.25% 11/1/49 | 620 | 626 | |
Colorado Reg'l. Trans. District Ctfs. of Prtn. Series 2020, 5% 6/1/26 | 1,000 | 1,071 | |
Colorado Springs Utils. Rev. Series 2020: | |||
5% 11/15/25 | 1,320 | 1,407 | |
5% 11/15/25 | 1,020 | 1,087 | |
Colorado Univ. Co. Hosp. Auth. Rev. Bonds Series 2019 C, 5%, tender 11/15/24 (b) | 14,940 | 15,312 | |
Denver City & County Arpt. Rev.: | |||
Series 2018 A, 5% 12/1/29 (c) | 1,205 | 1,287 | |
Series 2020 B1, 5% 11/15/24 (c) | 1,500 | 1,546 | |
E-470 Pub. Hwy. Auth. Rev. Series 2020 A, 5% 9/1/26 | 1,750 | 1,881 | |
Univ. of Colorado Enterprise Sys. Rev. Bonds: | |||
Series 2019 C, 2%, tender 10/15/24 (b) | 9,030 | 8,826 | |
Series 2021 C3A, 2%, tender 10/15/25 (b) | 1,625 | 1,577 | |
Series 2021 C3B, 2%, tender 10/15/26 (b) | 1,345 | 1,289 | |
TOTAL COLORADO | 49,379 | ||
Connecticut - 3.1% | |||
Connecticut Gen. Oblig.: | |||
Series 2016 A, 5% 3/15/26 | 1,925 | 2,063 | |
Series 2019 A: | |||
5% 4/15/25 | 4,380 | 4,604 | |
5% 4/15/26 | 2,355 | 2,528 | |
5% 4/15/30 | 965 | 1,084 | |
Series 2020 C, 2% 6/1/25 | 1,000 | 967 | |
Series 2021 D: | |||
5% 7/15/24 | 1,990 | 2,057 | |
5% 7/15/25 | 1,685 | 1,781 | |
Series 2022 A, 4% 1/15/26 | 1,025 | 1,062 | |
Series 2022 E: | |||
5% 11/15/25 | 6,000 | 6,390 | |
5% 11/15/26 | 6,000 | 6,513 | |
Series 2022 G: | |||
5% 11/15/25 | 6,000 | 6,390 | |
5% 11/15/26 | 6,000 | 6,513 | |
Series C, 4% 6/1/26 | 1,100 | 1,144 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
Bonds: | |||
Series 2010 A3, 0.25%, tender 2/9/24 (b) | 4,155 | 3,993 | |
Series 2014 B, 1.8%, tender 7/1/24 (b) | 3,150 | 3,049 | |
Series 2016 A, 2%, tender 7/1/26 (b) | 1,725 | 1,634 | |
Series 2017 B, 5% 7/1/29 | 7,075 | 8,111 | |
Series 2018 S: | |||
5% 7/1/23 | 1,455 | 1,468 | |
5% 7/1/24 | 1,000 | 1,028 | |
Series 2019 A: | |||
4% 7/1/23 (d) | 1,045 | 1,040 | |
4% 7/1/24 (d) | 1,090 | 1,064 | |
5% 7/1/25 (d) | 705 | 696 | |
5% 7/1/28 (d) | 1,315 | 1,281 | |
5% 7/1/29 (d) | 940 | 912 | |
Series 2022 M: | |||
5% 7/1/24 | 175 | 178 | |
5% 7/1/27 | 250 | 265 | |
5% 7/1/28 | 300 | 321 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2012 A, 5% 1/1/24 | 1,650 | 1,650 | |
Series 2021 C, 5% 1/1/25 | 1,280 | 1,338 | |
Series A: | |||
5% 5/1/24 | 1,000 | 1,029 | |
5% 9/1/26 | 1,025 | 1,110 | |
Hartford County Metropolitan District Gen. Oblig. Series 2021 A: | |||
5% 9/1/27 | 800 | 882 | |
5% 9/1/28 | 775 | 870 | |
Hartford Gen. Oblig. Series 2015 C, 5% 7/15/25 (Assured Guaranty Muni. Corp. Insured) | 2,065 | 2,180 | |
New Britain Gen. Oblig. Series 2009, 5% 4/1/24 (Escrowed to Maturity) | 745 | 756 | |
New Haven Gen. Oblig. Series 2016 A, 5% 8/15/25 (Assured Guaranty Muni. Corp. Insured) | 980 | 1,030 | |
Stratford Gen. Oblig. Series 2019: | |||
5% 1/1/25 | 3,890 | 4,053 | |
5% 1/1/26 | 3,735 | 3,958 | |
Univ. of Connecticut Gen. Oblig. Series 2019 A, 5% 11/1/26 | 1,000 | 1,084 | |
TOTAL CONNECTICUT | 88,076 | ||
Delaware - 0.0% | |||
Delaware Econ. Dev. Auth. Rev. Bonds (Delmarva Pwr. & Lt. Co. Proj.) Series A, 1.05%, tender 7/1/25 (b) | 1,475 | 1,396 | |
District Of Columbia - 2.5% | |||
District of Columbia Income Tax Rev.: | |||
Series 2020 A, 5% 3/1/24 | 715 | 733 | |
Series 2022 C, 5% 12/1/27 | 5,900 | 6,556 | |
District of Columbia Wtr. & Swr. Auth. Pub. Util. Rev. Bonds Series 2019 C, 1.75%, tender 10/1/24 (b) | 7,540 | 7,287 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev.: | |||
Series 2014 A, 5% 10/1/23 (c) | 1,035 | 1,046 | |
Series 2017 A, 5% 10/1/26 (c) | 12,905 | 13,622 | |
Series 2018 A, 5% 10/1/23 (c) | 3,000 | 3,031 | |
Series 2019 A: | |||
5% 10/1/23 (c) | 465 | 470 | |
5% 10/1/25 (c) | 1,410 | 1,472 | |
Series 2020 A: | |||
5% 10/1/23 (c) | 2,390 | 2,414 | |
5% 10/1/24 (c) | 4,470 | 4,589 | |
5% 10/1/25 (c) | 4,470 | 4,665 | |
Series 2021 A: | |||
5% 10/1/25 (c) | 3,000 | 3,131 | |
5% 10/1/28 (c) | 20,500 | 21,970 | |
TOTAL DISTRICT OF COLUMBIA | 70,986 | ||
Florida - 6.7% | |||
Brevard County Health Facilities Auth. Rev. Series 2023 A: | |||
5% 4/1/26 (e) | 1,920 | 2,000 | |
5% 4/1/28 (e) | 2,115 | 2,248 | |
Broward County Arpt. Sys. Rev.: | |||
Series 2012 P-1, 5% 10/1/25 (c) | 6,645 | 6,652 | |
Series 2015 C, 5% 10/1/24 (c) | 1,015 | 1,043 | |
Series 2019 A: | |||
5% 10/1/23 (c) | 1,200 | 1,213 | |
5% 10/1/24 (c) | 1,300 | 1,336 | |
5% 10/1/25 (c) | 1,500 | 1,563 | |
Series 2019 B: | |||
5% 10/1/24 (c) | 750 | 771 | |
5% 10/1/25 (c) | 755 | 787 | |
Series C, 5% 10/1/23 (c) | 3,930 | 3,972 | |
Broward County School Board Ctfs. of Prtn. Series 2015 B, 5% 7/1/24 | 1,120 | 1,153 | |
Cap. Projs. Fin. Auth. Student Hsg. Rev. (Cap. Projs. Ln. Prog. - Florida Univs.) Series 2020 A: | |||
5% 10/1/24 | 540 | 548 | |
5% 10/1/26 | 1,940 | 1,975 | |
Central Florida Expressway Auth. Sr. Lien Rev. Series 2021: | |||
5% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 1,485 | 1,597 | |
5% 7/1/27 (Assured Guaranty Muni. Corp. Insured) | 8,200 | 8,978 | |
Florida Hsg. Fin. Corp. Rev. Series 2021 1, 3% 1/1/52 | 5,840 | 5,678 | |
Florida Keys Aqueduct Auth. Wtr. Rev. Series 2021 B, 5% 9/1/25 | 2,360 | 2,501 | |
Florida Mid-Bay Bridge Auth. Rev. Series 2015 A: | |||
5% 10/1/23 | 1,240 | 1,254 | |
5% 10/1/24 | 1,955 | 2,001 | |
5% 10/1/25 | 1,710 | 1,750 | |
5% 10/1/26 | 1,955 | 2,000 | |
Florida Muni. Pwr. Agcy. Rev. Series 2016 A, 4% 10/1/26 | 530 | 551 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | |||
Series 2016 A, 5% 10/1/25 (Escrowed to Maturity) (c) | 620 | 653 | |
Series 2016, 5% 10/1/26 (c) | 1,300 | 1,372 | |
Series 2017 A: | |||
5% 10/1/25 (c) | 320 | 333 | |
5% 10/1/25 (Escrowed to Maturity) (c) | 1,675 | 1,760 | |
5% 10/1/26 (c) | 545 | 572 | |
5% 10/1/26 (Escrowed to Maturity) (c) | 2,025 | 2,164 | |
5% 10/1/27 (Escrowed to Maturity) (c) | 580 | 630 | |
Series 2019 A: | |||
5% 10/1/24 (c) | 12,700 | 13,070 | |
5% 10/1/25 (c) | 6,700 | 6,993 | |
5% 10/1/27 (c) | 1,940 | 2,065 | |
Halifax Hosp. Med. Ctr. Rev. Series 2015, 5% 6/1/23 | 1,295 | 1,303 | |
Hillsborough County Aviation Auth. Rev. Series A, 5% 10/1/26 (Pre-Refunded to 10/1/23 @ 100) (c) | 2,910 | 2,953 | |
Jacksonville Spl. Rev. Series 2022 A: | |||
5% 10/1/23 | 345 | 350 | |
5% 10/1/24 | 785 | 815 | |
5% 10/1/25 | 610 | 646 | |
5% 10/1/26 | 435 | 469 | |
5% 10/1/27 | 345 | 379 | |
5% 10/1/28 | 685 | 765 | |
5% 10/1/29 | 595 | 675 | |
5% 10/1/30 | 560 | 645 | |
5% 10/1/32 | 510 | 602 | |
Lee County Arpt. Rev. Series 2021 A: | |||
5% 10/1/23 (c) | 475 | 479 | |
5% 10/1/24 (c) | 1,795 | 1,833 | |
5% 10/1/25 (c) | 3,325 | 3,457 | |
Lee Memorial Health Sys. Hosp. Rev. Bonds Series 2019 A2, 5%, tender 4/1/26 (b) | 4,810 | 4,917 | |
Manatee County School District Series 2017, 5% 10/1/24 (Assured Guaranty Muni. Corp. Insured) | 1,270 | 1,317 | |
Miami-Dade County Aviation Rev.: | |||
Series 2012 A, 5% 10/1/24 (c) | 1,800 | 1,810 | |
Series 2014 A, 5% 10/1/31 (c) | 1,750 | 1,783 | |
Series 2016 A, 5% 10/1/27 | 1,275 | 1,369 | |
Series 2020 A, 5% 10/1/23 | 3,810 | 3,866 | |
Miami-Dade County Expressway Auth.: | |||
(Waste Mgmt., Inc. of Florida Proj.) Series 2013 A, 5% 7/1/23 | 1,955 | 1,969 | |
Series 2014 B, 5% 7/1/23 | 3,180 | 3,204 | |
Miami-Dade County School Board Ctfs. of Prtn.: | |||
Bonds Series 2014 A, 5%, tender 5/1/24 (b) | 9,695 | 9,948 | |
Series 2014 D, 5% 11/1/23 | 7,485 | 7,607 | |
Series 2015 A: | |||
5% 5/1/23 | 6,360 | 6,399 | |
5% 5/1/27 (Assured Guaranty Muni. Corp. Insured) | 1,880 | 1,971 | |
Series 2015 B, 5% 5/1/24 | 29,155 | 29,950 | |
Orange County Hsg. Fin. Auth. Multi-family Rev. Bonds Series 2021 B, 0.55%, tender 7/1/24 (b) | 9,950 | 9,409 | |
Palm Beach County Health Facilities Auth. Hosp. Rev.: | |||
(Jupiter Med. Ctr. Proj.) Series 2022, 5% 11/1/28 | 150 | 160 | |
Series 2014: | |||
5% 12/1/23 (Escrowed to Maturity) | 190 | 194 | |
5% 12/1/24 (Escrowed to Maturity) | 380 | 394 | |
Palm Beach County Health Facilities Auth. Rev.: | |||
Series 2015 C: | |||
5% 5/15/24 | 1,000 | 1,000 | |
5% 5/15/30 | 2,490 | 2,407 | |
Series 2021 C, 4% 5/15/29 | 1,440 | 1,315 | |
Pinellas County Hsg. Fin. Auth. Bonds Series 2021 B, 0.65%, tender 7/1/24 (b) | 2,170 | 2,055 | |
Seminole County School Board Ctfs. of Prtn. Series 2016 C: | |||
5% 7/1/25 | 980 | 1,033 | |
5% 7/1/26 | 1,115 | 1,198 | |
Village Cmnty. Dev. District No. 13 Series 2019, 2.625% 5/1/24 | 245 | 238 | |
TOTAL FLORIDA | 192,067 | ||
Georgia - 4.8% | |||
Atlanta Arpt. Rev.: | |||
Series 2014 C, 5% 1/1/29 (c) | 900 | 912 | |
Series 2020 A, 5% 7/1/26 (c) | 3,000 | 3,156 | |
Series 2020 B: | |||
5% 7/1/27 (c) | 4,000 | 4,246 | |
5% 7/1/29 (c) | 1,920 | 2,069 | |
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.) Series 2009 1st, 2.75%, tender 3/15/23 (b) | 21,200 | 21,158 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Bonds: | |||
(Georgia Pwr. Co. Plant Vogtle Proj.): | |||
Series 1994, 2.25%, tender 5/25/23 (b) | 6,480 | 6,444 | |
Series 2012, 1.7%, tender 8/22/24 (b) | 3,400 | 3,285 | |
Series 2013 1st, 2.925%, tender 3/12/24 (b) | 9,930 | 9,818 | |
(Oglethorpe Pwr. Corp. Vogtle Proj.) Series 2017 E, 3.25%, tender 2/3/25 (b) | 900 | 893 | |
Columbus Med. Ctr. Hosp. Auth. Bonds (Piedmont Healthcare, Inc. Proj.) Series 2019 A, 5%, tender 7/1/26 (b) | 4,840 | 5,087 | |
Georgia Gen. Oblig. Series 2016 A, 5% 2/1/27 | 4,980 | 5,339 | |
Georgia Muni. Elec. Auth. Pwr. Rev. Series 2020 A: | |||
4% 11/1/23 | 920 | 925 | |
4% 11/1/24 | 1,420 | 1,440 | |
5% 1/1/25 | 1,000 | 1,035 | |
5% 1/1/26 | 1,125 | 1,184 | |
5% 1/1/26 | 1,000 | 1,052 | |
5% 1/1/27 | 760 | 808 | |
Georgia Muni. Gas Auth. Rev. (Gas Portfolio III Proj.) Series 2014 U, 5% 10/1/23 | 2,365 | 2,400 | |
Georgia Road & Thruway Auth. Rev. Series 2020: | |||
5% 6/1/24 | 2,500 | 2,575 | |
5% 6/1/25 | 5,000 | 5,267 | |
5% 6/1/26 | 2,500 | 2,690 | |
Main Street Natural Gas, Inc.: | |||
Bonds: | |||
Series 2018 C, 4%, tender 12/1/23 (b) | 10,210 | 10,202 | |
Series 2021 A, 4%, tender 9/1/27 (b) | 15,000 | 14,877 | |
Series 2021 C, 4%, tender 12/1/28 (b) | 16,990 | 16,592 | |
Series 2022 A: | |||
4% 12/1/23 | 265 | 265 | |
4% 12/1/24 | 1,100 | 1,102 | |
4% 12/1/25 | 170 | 170 | |
4% 12/1/26 | 1,955 | 1,954 | |
Monroe County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Scherer Proj.) Series 1995, 2.25% 7/1/25 | 6,505 | 6,240 | |
Private Colleges & Univs. Auth. Rev.: | |||
(The Savannah College of Art & Design Projs.): | |||
Series 2014, 5% 4/1/24 (Escrowed to Maturity) | 1,810 | 1,856 | |
Series 2021, 5% 4/1/26 | 1,200 | 1,264 | |
Series 2020 B, 5% 9/1/25 | 2,570 | 2,731 | |
TOTAL GEORGIA | 139,036 | ||
Hawaii - 0.8% | |||
Hawaii Arpts. Sys. Rev. Series 2022 B, 5% 7/1/24 (c) | 3,500 | 3,589 | |
Hawaii Gen. Oblig. Series 2015 EZ, 5% 10/1/26 | 10,000 | 10,631 | |
Honolulu City & County Gen. Oblig.: | |||
Series 2016 C, 5% 10/1/28 | 1,000 | 1,124 | |
Series 2020 F: | |||
5% 7/1/24 | 1,575 | 1,627 | |
5% 7/1/25 | 1,255 | 1,327 | |
5% 7/1/26 | 800 | 864 | |
Series 2022 A, 5% 11/1/26 | 1,985 | 2,158 | |
State of Hawaii Dept. of Trans. Series 2013, 5% 8/1/23 (c) | 1,440 | 1,454 | |
TOTAL HAWAII | 22,774 | ||
Idaho - 0.0% | |||
Idaho Hsg. & Fin. Assoc. Single Family Mtg. Series 2019 A, 4% 1/1/50 | 310 | 311 | |
Illinois - 9.7% | |||
Champaign County Cmnty. Unit Series 2019, 4% 6/1/24 | 420 | 425 | |
Chicago Board of Ed.: | |||
Series 2017 C: | |||
5% 12/1/26 | 485 | 497 | |
5% 12/1/27 | 1,830 | 1,870 | |
Series 2018 C, 5% 12/1/24 | 13,000 | 13,238 | |
Series 2019 A, 0% 12/1/26 | 3,500 | 2,989 | |
Chicago Gen. Oblig. Series 2020 A, 5% 1/1/30 | 2,005 | 2,113 | |
Chicago Metropolitan Wtr. Reclamation District of Greater Chicago Series 2007, 5.25% 12/1/32 | 2,920 | 3,498 | |
Chicago Midway Arpt. Rev.: | |||
Series 2013 B, 5% 1/1/25 | 1,700 | 1,702 | |
Series 2014 A: | |||
5% 1/1/24 (c) | 10,490 | 10,633 | |
5% 1/1/26 (c) | 3,475 | 3,520 | |
Series 2014 B, 5% 1/1/23 | 200 | 200 | |
Series 2016 A: | |||
5% 1/1/27 (c) | 2,810 | 2,912 | |
5% 1/1/28 (c) | 500 | 517 | |
Chicago Motor Fuel Tax Rev. Series 2013, 5% 1/1/23 (Escrowed to Maturity) | 525 | 525 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2012 B, 4% 1/1/27 (c) | 1,220 | 1,220 | |
Series 2013 A, 5% 1/1/23 (c) | 2,730 | 2,730 | |
Series 2015 A: | |||
5% 1/1/24 (c) | 1,230 | 1,247 | |
5% 1/1/26 (c) | 1,600 | 1,645 | |
5% 1/1/27 (c) | 1,000 | 1,027 | |
Series 2015 B, 5% 1/1/24 | 1,525 | 1,555 | |
Series 2016 A, 5% 1/1/27 (c) | 840 | 873 | |
Series 2017 D: | |||
5% 1/1/26 (c) | 445 | 463 | |
5% 1/1/27 (c) | 1,595 | 1,678 | |
5% 1/1/29 (c) | 215 | 225 | |
Series 2020 B, 5% 1/1/26 | 1,310 | 1,396 | |
Series 2022 A, 5% 1/1/26 (c) | 830 | 864 | |
Series 2022 C: | |||
5% 1/1/23 (c) | 500 | 500 | |
5% 1/1/24 (c) | 2,000 | 2,027 | |
5% 1/1/26 (c) | 2,300 | 2,395 | |
Chicago Transit Auth. Cap. Grant Receipts Rev. Series 2017, 5% 6/1/25 | 1,225 | 1,270 | |
Chicago Wastewtr. Transmission Rev. Series 2012, 5% 1/1/23 | 1,175 | 1,175 | |
Cook County Gen. Oblig.: | |||
Series 2021 A: | |||
5% 11/15/23 | 375 | 380 | |
5% 11/15/24 | 425 | 439 | |
5% 11/15/25 | 425 | 448 | |
5% 11/15/26 | 850 | 908 | |
5% 11/15/27 | 1,075 | 1,163 | |
Series 2021 B: | |||
4% 11/15/24 | 1,475 | 1,496 | |
4% 11/15/25 | 1,100 | 1,127 | |
4% 11/15/26 | 555 | 571 | |
4% 11/15/27 | 565 | 584 | |
4% 11/15/28 | 285 | 295 | |
Series 2022 A: | |||
5% 11/15/24 | 7,590 | 7,835 | |
5% 11/15/25 | 5,585 | 5,886 | |
5% 11/15/26 | 300 | 320 | |
5% 11/15/27 | 325 | 352 | |
5% 11/15/28 | 350 | 384 | |
5% 11/15/29 | 1,315 | 1,460 | |
Cook County Sales Tax Rev.: | |||
Series 2022 A: | |||
5% 11/15/26 | 635 | 683 | |
5% 11/15/27 | 350 | 381 | |
5% 11/15/28 | 190 | 210 | |
5% 11/15/29 | 140 | 157 | |
5% 11/15/30 | 315 | 356 | |
Series 2022 B: | |||
5% 11/15/25 | 815 | 862 | |
5% 11/15/26 | 360 | 387 | |
5% 11/15/27 | 470 | 511 | |
5% 11/15/28 | 290 | 320 | |
5% 11/15/29 | 265 | 297 | |
5% 11/15/30 | 275 | 311 | |
Illinois Fin. Auth.: | |||
Bonds Series 2020 B: | |||
5%, tender 11/15/24 (b) | 2,125 | 2,171 | |
5%, tender 11/15/26 (b) | 2,830 | 2,984 | |
Series 2015: | |||
5% 5/1/45 (Pre-Refunded to 5/1/25 @ 100) | 1,190 | 1,246 | |
5% 5/1/45 (Pre-Refunded to 5/1/25 @ 100) | 7,450 | 7,827 | |
Series 2020 A, 5% 8/15/24 | 1,080 | 1,117 | |
Series 2022 A: | |||
5% 10/1/26 | 265 | 271 | |
5% 10/1/28 | 330 | 340 | |
Illinois Fin. Auth. Rev.: | |||
(Bradley Univ. Proj.) Series 2017 C, 5% 8/1/26 | 1,650 | 1,707 | |
(Edward-Elmhurst Healthcare) Series 2017 A, 5% 1/1/25 (Escrowed to Maturity) | 740 | 769 | |
(OSF Healthcare Sys.) Series 2018 A: | |||
5% 5/15/26 | 4,300 | 4,547 | |
5% 5/15/27 | 9,260 | 9,899 | |
Series 2008 A3, 5% 11/1/30 | 1,545 | 1,611 | |
Series 2015 A: | |||
5% 11/15/24 | 1,490 | 1,537 | |
5% 11/15/25 | 1,905 | 2,001 | |
5% 11/15/26 | 1,955 | 2,051 | |
Series 2015 B, 5% 11/15/24 | 1,910 | 1,977 | |
Series 2016 A: | |||
5% 2/15/23 | 980 | 982 | |
5% 8/15/24 (Escrowed to Maturity) | 2,135 | 2,206 | |
5.25% 8/15/28 (Pre-Refunded to 8/15/26 @ 100) | 1,000 | 1,086 | |
5.25% 8/15/29 (Pre-Refunded to 8/15/26 @ 100) | 5,850 | 6,351 | |
Series 2016 C: | |||
5% 2/15/24 | 5,220 | 5,324 | |
5% 2/15/27 | 1,875 | 2,030 | |
Series 2016: | |||
5% 5/15/25 | 490 | 510 | |
5% 5/15/26 | 980 | 1,036 | |
5% 5/15/27 | 1,225 | 1,291 | |
Series 2017, 5% 1/1/25 | 2,260 | 2,362 | |
Series 2019: | |||
5% 9/1/23 | 400 | 402 | |
5% 9/1/24 | 415 | 421 | |
5% 9/1/25 | 300 | 306 | |
5% 4/1/26 | 1,625 | 1,714 | |
5% 9/1/26 | 300 | 308 | |
5% 4/1/27 | 2,135 | 2,281 | |
5% 9/1/27 | 500 | 516 | |
5% 4/1/28 | 1,425 | 1,540 | |
5% 4/1/29 | 2,000 | 2,182 | |
Illinois Gen. Oblig.: | |||
Series 2012 A, 4% 1/1/23 | 1,245 | 1,245 | |
Series 2013, 5.5% 7/1/25 | 265 | 267 | |
Series 2014: | |||
5% 4/1/23 | 2,165 | 2,172 | |
5% 2/1/25 | 2,275 | 2,300 | |
Series 2016: | |||
4% 2/1/30 (Assured Guaranty Muni. Corp. Insured) | 3,760 | 3,791 | |
5% 2/1/24 | 3,100 | 3,140 | |
5% 1/1/26 | 2,970 | 3,047 | |
Series 2017 C, 5% 11/1/29 | 1,000 | 1,024 | |
Series 2017 D: | |||
5% 11/1/25 | 6,635 | 6,801 | |
5% 11/1/26 | 4,200 | 4,329 | |
Series 2018 A, 5% 10/1/26 | 4,615 | 4,755 | |
Series 2020 B: | |||
5% 10/1/25 | 5,105 | 5,231 | |
5% 10/1/28 | 6,500 | 6,719 | |
Series 2020 D, 5% 10/1/24 | 5,000 | 5,092 | |
Series 2021 B, 5% 3/1/23 | 2,555 | 2,560 | |
Series 2022 A: | |||
5% 3/1/23 | 1,205 | 1,208 | |
5% 3/1/24 | 4,660 | 4,725 | |
Series 2022 B: | |||
5% 3/1/25 | 9,385 | 9,583 | |
5% 3/1/26 | 6,880 | 7,066 | |
5% 3/1/27 | 6,500 | 6,709 | |
Series 2022 D1, 5% 3/1/23 | 1,375 | 1,378 | |
Illinois Hsg. Dev. Auth. Rev. Series D, 3.75% 4/1/50 | 620 | 617 | |
Illinois Muni. Elec. Agcy. Pwr. Supply Series 2015 A, 5% 2/1/23 | 1,180 | 1,181 | |
Illinois Sales Tax Rev.: | |||
Series 2013, 5% 6/15/24 | 2,985 | 3,002 | |
Series 2021 C: | |||
5% 6/15/23 | 535 | 539 | |
5% 6/15/24 | 615 | 627 | |
5% 6/15/25 | 355 | 366 | |
McHenry County Cmnty. School District #200 Series 2006 B: | |||
0% 1/15/24 | 2,540 | 2,448 | |
0% 1/15/24 (Escrowed to Maturity) | 2,175 | 2,108 | |
0% 1/15/25 | 4,915 | 4,579 | |
0% 1/15/26 | 3,695 | 3,331 | |
Metropolitan Pier & Exposition Series 2022 A, 3% 6/15/25 | 2,330 | 2,293 | |
Northern Illinois Univ. Revs. Series 2020 B, 5% 4/1/24 (Build America Mutual Assurance Insured) | 1,100 | 1,126 | |
Railsplitter Tobacco Settlement Auth. Rev. Series 2017, 5% 6/1/24 | 4,365 | 4,479 | |
TOTAL ILLINOIS | 279,793 | ||
Indiana - 1.8% | |||
Indiana Fin. Auth. Envir. Facilities Rev. Bonds (Indianapolis Pwr. & Lt. Co. Proj.): | |||
Series 2020 A, 0.75%, tender 4/1/26 (b) | 600 | 520 | |
Series 2020 B, 0.95%, tender 4/1/26 (b)(c) | 1,025 | 898 | |
Indiana Fin. Auth. Health Sys. Rev. Bonds Series 2019 B, 2.25%, tender 7/1/25 (b) | 2,005 | 1,956 | |
Indiana Fin. Auth. Hosp. Rev.: | |||
Bonds: | |||
Series 2011 L, 0.7%, tender 1/1/26 (b) | 1,105 | 1,028 | |
Series 2011 M, 0.7%, tender 1/1/26 (b) | 7,795 | 7,254 | |
Series 2013, 5% 8/15/23 | 980 | 991 | |
Indiana Fin. Auth. Wastewtr. Util. Rev. (CWA Auth. Proj.) Series 2015 A: | |||
5% 10/1/24 | 1,460 | 1,516 | |
5% 10/1/25 | 1,590 | 1,643 | |
Indiana Health Facility Fing. Auth. Rev. Bonds Series 2001 A2, 2%, tender 2/1/23 (b) | 10 | 10 | |
Indiana Hsg. & Cmnty. Dev. Auth.: | |||
Series 2019 B, 3.5% 1/1/49 | 1,305 | 1,291 | |
Series 2021 B, 3% 7/1/50 | 890 | 864 | |
Series 2021 C1, 3% 1/1/52 | 3,735 | 3,592 | |
Indianapolis Local Pub. Impt. (Indianapolis Arpt. Auth. Proj.): | |||
Series 2014 D: | |||
5% 1/1/28 (c) | 470 | 476 | |
5% 1/1/30 (c) | 550 | 557 | |
Series 2016 A1: | |||
5% 1/1/23 (c) | 1,940 | 1,940 | |
5% 1/1/24 (c) | 2,715 | 2,756 | |
5% 1/1/25 (c) | 2,845 | 2,930 | |
Series 2019 D, 5% 1/1/25 (c) | 1,710 | 1,761 | |
Whiting Envir. Facilities Rev. Bonds (BP Products North America, Inc. Proj.): | |||
Series 2016 A, 5%, tender 3/1/23 (b)(c) | 1,200 | 1,202 | |
Series 2017, 5%, tender 11/1/24 (b)(c) | 1,250 | 1,267 | |
Series 2019 A, 5%, tender 6/5/26 (b)(c) | 15,985 | 16,362 | |
TOTAL INDIANA | 50,814 | ||
Iowa - 0.0% | |||
Iowa Student Ln. Liquidity Corp. Student Ln. Rev. Series 2019 B, 5% 12/1/24 (c) | 800 | 821 | |
Kansas - 0.0% | |||
Wyandotte County/Kansas City Unified Govt. Util. Sys. Rev. Series 2016 A: | |||
5% 9/1/23 | 710 | 719 | |
5% 9/1/25 | 785 | 828 | |
TOTAL KANSAS | 1,547 | ||
Kentucky - 3.1% | |||
Ashland Med. Ctr. Rev.: | |||
(Ashland Hosp. Corp. D/B/A King's Daughters Med. Ctr. Proj.) Series 2016 A: | |||
5% 2/1/24 | 1,330 | 1,351 | |
5% 2/1/25 | 980 | 1,006 | |
Series 2019, 5% 2/1/23 | 625 | 626 | |
Carroll County Envir. Facilities Rev. Bonds (Kentucky Utils. Co. Proj.) Series 2004 A, 1.75%, tender 9/1/26 (b)(c) | 9,750 | 8,779 | |
Carroll County Poll. Ctlr Rev. Bonds (Kentucky Utils. Co. Proj.) Series 2016 A, 1.55%, tender 9/1/26 (b) | 5,750 | 5,231 | |
Kentucky Asset/Liability Commission Gen. Fund Rev. Series 2021 A: | |||
5% 11/1/24 | 1,065 | 1,107 | |
5% 11/1/25 | 3,000 | 3,179 | |
5% 11/1/26 | 1,000 | 1,078 | |
5% 11/1/27 | 1,000 | 1,095 | |
Kentucky Econ. Dev. Fin. Auth. Hosp. Rev. Series 2015 A, 5% 6/1/24 | 1,655 | 1,691 | |
Kentucky State Property & Buildings Commission Rev.: | |||
Series 2015, 5% 8/1/24 | 1,850 | 1,912 | |
Series 2018, 5% 5/1/25 | 1,605 | 1,677 | |
Series A: | |||
5% 11/1/24 | 1,250 | 1,299 | |
5% 11/1/25 | 1,650 | 1,741 | |
Series B, 5% 8/1/24 | 2,645 | 2,734 | |
Kentucky, Inc. Pub. Energy: | |||
Bonds: | |||
Series 2018 A, 4%, tender 4/1/24 (b) | 4,110 | 4,103 | |
Series 2019 A1, 4%, tender 6/1/25 (b) | 10,455 | 10,359 | |
Series A, 4%, tender 6/1/26 (b) | 11,570 | 11,453 | |
Series C1, 4%, tender 6/1/25 (b) | 15,000 | 14,862 | |
Series A: | |||
4% 12/1/23 | 600 | 600 | |
4% 12/1/25 | 825 | 823 | |
4% 6/1/26 | 1,085 | 1,077 | |
Louisville & Jefferson County Bonds: | |||
Series 2020 B, 5%, tender 10/1/23 (b) | 2,800 | 2,820 | |
Series 2020 C, 5%, tender 10/1/26 (b) | 5,985 | 6,283 | |
Louisville Reg'l. Arpt. Auth. Sys. Rev. Series 2014 A, 5% 7/1/24 (c) | 1,280 | 1,312 | |
TOTAL KENTUCKY | 88,198 | ||
Louisiana - 0.5% | |||
New Orleans Aviation Board Rev.: | |||
(North Term. Proj.) Series 2017 B: | |||
5% 1/1/23 (c) | 300 | 300 | |
5% 1/1/24 (c) | 195 | 198 | |
5% 1/1/25 (c) | 195 | 200 | |
5% 1/1/26 (c) | 490 | 510 | |
Series 2017 D2: | |||
5% 1/1/23 (c) | 390 | 390 | |
5% 1/1/24 (c) | 735 | 746 | |
5% 1/1/25 (c) | 1,390 | 1,429 | |
St. John Baptist Parish Rev.: | |||
(Marathon Oil Corp.) Series 2017, 2.2% 6/1/37 (b) | 3,765 | 3,465 | |
Bonds (Marathon Oil Corp.) Series 2017, 2%, tender 4/1/23 (b) | 3,555 | 3,533 | |
Tobacco Settlement Fing. Corp. Series 2013 A, 5% 5/15/23 | 4,400 | 4,431 | |
TOTAL LOUISIANA | 15,202 | ||
Maine - 0.1% | |||
City of Portland Arpt. Series 2016, 5% 1/1/29 | 690 | 721 | |
Maine Health & Higher Edl. Facilities Auth. Rev.: | |||
Series 2013, 5% 7/1/24 (Pre-Refunded to 7/1/23 @ 100) | 350 | 353 | |
Series 2021 A: | |||
5% 7/1/28 | 555 | 603 | |
5% 7/1/29 | 600 | 660 | |
5% 7/1/30 | 500 | 557 | |
TOTAL MAINE | 2,894 | ||
Maryland - 2.0% | |||
Baltimore Proj. Rev. Series 2017 D: | |||
5% 7/1/24 | 3,220 | 3,322 | |
5% 7/1/25 | 3,380 | 3,566 | |
Hsg. Opportunities Commission of Montgomery County Series 2021 C, 0.8% 7/1/25 | 700 | 655 | |
Maryland Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev.: | |||
Series 2019 B, 4% 9/1/49 | 1,150 | 1,152 | |
Series 2019 C, 3.5% 3/1/50 | 1,290 | 1,276 | |
Series 2021 C: | |||
0.375% 7/1/23 | 640 | 631 | |
0.5% 1/1/24 | 1,000 | 972 | |
0.6% 7/1/24 | 2,840 | 2,727 | |
Maryland Dept. of Trans.: | |||
Series 2021 B, 5% 8/1/27 (c) | 1,805 | 1,918 | |
Series 2022 B: | |||
5% 12/1/23 | 845 | 861 | |
5% 12/1/27 | 1,295 | 1,438 | |
Series 2022, 5% 12/1/26 | 1,395 | 1,521 | |
Maryland Gen. Oblig.: | |||
Series 2017 A, 5% 3/15/25 | 1,795 | 1,886 | |
Series 2022 2D, 3% 8/1/27 | 1,575 | 1,584 | |
Maryland Health & Higher Edl. Bonds: | |||
Series 2020 B2, 5%, tender 7/1/27 (b) | 2,480 | 2,636 | |
Series 2020, 5%, tender 7/1/25 (b) | 5,250 | 5,434 | |
Maryland Health & Higher Edl. Facilities Auth. Rev. Series 2015: | |||
5% 7/1/23 | 980 | 986 | |
5% 7/1/24 | 1,955 | 1,994 | |
5% 7/1/25 | 1,730 | 1,789 | |
Montgomery County Gen. Oblig. Series 2022 A: | |||
5% 8/1/24 | 7,695 | 7,967 | |
5% 8/1/25 | 4,300 | 4,558 | |
5% 8/1/26 | 7,075 | 7,663 | |
TOTAL MARYLAND | 56,536 | ||
Massachusetts - 1.3% | |||
Massachusetts Bay Trans. Auth. Sales Tax Rev. Series 2016 A, 0% 7/1/29 | 1,000 | 790 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
Bonds Series 2011 N, 0.45%, tender 7/1/25 (b) | 5,000 | 4,599 | |
Caregroup, Inc. Series 2015 H-1, 5% 7/1/25 | 2,655 | 2,769 | |
Series 2016 I: | |||
5% 7/1/23 | 660 | 664 | |
5% 7/1/24 | 1,075 | 1,095 | |
5% 7/1/25 | 1,475 | 1,539 | |
5% 7/1/25 | 1,480 | 1,528 | |
5% 7/1/26 | 980 | 1,029 | |
Series 2019 A: | |||
5% 7/1/23 | 525 | 529 | |
5% 7/1/24 | 1,150 | 1,178 | |
5% 7/1/25 | 825 | 857 | |
Series 2021: | |||
4% 7/1/23 | 215 | 214 | |
4% 7/1/24 | 225 | 223 | |
4% 7/1/25 | 235 | 231 | |
Massachusetts Edl. Fing. Auth. Rev.: | |||
Series 2016 J, 5% 7/1/23 (c) | 2,175 | 2,192 | |
Series 2016, 5% 7/1/24 (c) | 2,850 | 2,913 | |
Series 2020 C: | |||
5% 7/1/25 (c) | 850 | 879 | |
5% 7/1/26 (c) | 1,900 | 1,993 | |
Series 2021 B, 5% 7/1/26 (c) | 1,390 | 1,462 | |
Massachusetts Health & Edl. Facilities Auth. Rev. Bonds Series I, 0.7%, tender 7/1/25 (b) | 2,315 | 2,148 | |
Massachusetts Port Auth. Rev.: | |||
Series 2017 A: | |||
5% 7/1/24 (c) | 3,005 | 3,090 | |
5% 7/1/25 (c) | 1,115 | 1,163 | |
Series 2021 E, 5% 7/1/27 (c) | 500 | 532 | |
Univ. of Massachusetts Bldg. Auth. Rev. Series 2021 1, 5% 11/1/26 | 2,445 | 2,656 | |
TOTAL MASSACHUSETTS | 36,273 | ||
Michigan - 1.7% | |||
Detroit Downtown Dev. Auth. Tax Series A, 5% 7/1/24 (Assured Guaranty Muni. Corp. Insured) | 1,000 | 1,028 | |
Flint Hosp. Bldg. Auth. Rev. Series 2020, 5% 7/1/24 | 925 | 941 | |
Grand Traverse County Hosp. Fin. Auth. Series 2021: | |||
5% 7/1/26 | 550 | 586 | |
5% 7/1/27 | 900 | 974 | |
5% 7/1/28 | 725 | 796 | |
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016: | |||
5% 5/15/24 | 635 | 650 | |
5% 5/15/24 (Escrowed to Maturity) | 5 | 5 | |
5% 5/15/25 | 1,275 | 1,327 | |
5% 5/15/25 (Escrowed to Maturity) | 10 | 10 | |
5% 5/15/26 | 1,230 | 1,301 | |
5% 5/15/26 (Escrowed to Maturity) | 5 | 5 | |
Lansing Board of Wtr. & Lt. Util. Rev. Bonds Series 2021 B, 2%, tender 7/1/26 (b) | 2,000 | 1,895 | |
Michigan Bldg. Auth. Rev. (Facilities Prog.) Series 2016 I, 5% 4/15/24 | 1,450 | 1,488 | |
Michigan Fin. Auth. Rev.: | |||
Bonds: | |||
Series 2015 D2, 1.2%, tender 4/13/28 (b) | 635 | 564 | |
Series 2019 MI2, 5%, tender 2/1/25 (b) | 4,830 | 5,027 | |
Series 2015 A, 5% 8/1/26 (Pre-Refunded to 8/1/24 @ 100) | 300 | 310 | |
Series 2015 D1, 0.75% 10/15/25 | 1,000 | 932 | |
Series 2015 MI, 5% 12/1/23 | 1,020 | 1,038 | |
Series 2020 A: | |||
5% 6/1/24 | 1,000 | 1,016 | |
5% 6/1/25 | 2,000 | 2,050 | |
Michigan Gen. Oblig. Series 2016, 5% 3/15/24 | 6,955 | 7,137 | |
Michigan Hosp. Fin. Auth. Rev. Bonds (Ascension Health Cr. Group Proj.) Series F5, 2.4%, tender 3/15/23 (b) | 3,535 | 3,529 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev.: | |||
Series 2021 A, 3% 6/1/52 | 2,200 | 2,129 | |
Series A, 3.5% 12/1/50 | 1,130 | 1,116 | |
Michigan Strategic Fund Ltd. Oblig. Rev. Bonds (Consumer Energy Co. Proj.) Series 2019, 1.8%, tender 10/1/24 (b)(c) | 3,140 | 3,034 | |
Novi Cmnty. School District Series I: | |||
4% 5/1/24 | 795 | 806 | |
4% 5/1/25 | 600 | 615 | |
Portage Pub. Schools Series 2016: | |||
5% 5/1/24 | 1,880 | 1,932 | |
5% 11/1/24 | 1,955 | 2,032 | |
5% 5/1/25 | 1,100 | 1,155 | |
5% 11/1/25 | 1,195 | 1,269 | |
5% 11/1/28 | 985 | 1,054 | |
Royal Oak Hosp. Fin. Auth. Hosp. Rev. Series 2014 D, 5% 9/1/23 (Escrowed to Maturity) | 490 | 497 | |
Saginaw Hosp. Fin. Auth. Hosp. Rev. Series 2020 J: | |||
5% 7/1/24 | 765 | 785 | |
5% 7/1/25 | 500 | 522 | |
5% 7/1/26 | 750 | 793 | |
TOTAL MICHIGAN | 50,348 | ||
Minnesota - 0.7% | |||
Duluth Econ. Dev. Auth. Series 2021 A: | |||
3% 7/1/24 | 200 | 195 | |
3% 7/1/25 | 615 | 592 | |
Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev.: | |||
Series 2014 A, 5% 1/1/23 | 980 | 980 | |
Series 2014 B, 5% 1/1/23 (c) | 1,480 | 1,480 | |
Series 2022 B: | |||
5% 1/1/24 (c) | 705 | 715 | |
5% 1/1/25 (c) | 460 | 473 | |
5% 1/1/26 (c) | 1,125 | 1,172 | |
5% 1/1/27 (c) | 3,800 | 3,995 | |
Moorhead Edl. Facilities Rev. (The Concordia College Corp. Proj.) Series 2016, 5% 12/1/25 | 2,270 | 2,323 | |
Northern Muni. Pwr. Agcy. Elec. Sys. Rev. Series 2017, 5% 1/1/24 | 1,560 | 1,590 | |
Shakopee Sr. Hsg. Rev. Bonds Series 2018, 5.85%, tender 11/1/25 (b)(d) | 2,530 | 2,486 | |
Southern Minnesota Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Series 2015 A, 5% 1/1/26 | 2,065 | 2,199 | |
Western Minnesota Muni. Pwr. Agcy. Pwr. Supply Rev. Series 2014 A, 5% 1/1/24 | 980 | 999 | |
TOTAL MINNESOTA | 19,199 | ||
Mississippi - 0.2% | |||
Mississippi Dev. Bank Spl. Oblig. (Magnolia Reg'l. Health Ctr. Proj.) Series 2021: | |||
5% 10/1/23 (d) | 830 | 835 | |
5% 10/1/25 (d) | 1,320 | 1,347 | |
5% 10/1/27 (d) | 900 | 929 | |
Mississippi Hosp. Equip. & Facilities Auth.: | |||
(Forrest County Gen. Hosp. Rfdg. Proj.) Series 2019 B, 5% 1/1/24 | 400 | 407 | |
Bonds Series II, 5%, tender 3/1/27 (b) | 1,130 | 1,182 | |
Series I: | |||
5% 10/1/25 | 600 | 628 | |
5% 10/1/27 | 800 | 858 | |
TOTAL MISSISSIPPI | 6,186 | ||
Missouri - 0.7% | |||
Cape Girardeau County Indl. Dev. Auth. (Southeast Hosp. Proj.) Series 2017 A: | |||
5% 3/1/23 | 980 | 981 | |
5% 3/1/24 | 685 | 693 | |
5% 3/1/25 | 710 | 727 | |
5% 3/1/26 | 980 | 1,015 | |
Kansas City Indl. Dev. Auth. (Kansas City Int'l. Arpt. Term. Modernization Proj.): | |||
Series 2020 A: | |||
5% 3/1/26 (c) | 1,185 | 1,237 | |
5% 3/1/27 (c) | 4,065 | 4,274 | |
Series 2020 B: | |||
5% 3/1/26 | 2,190 | 2,322 | |
5% 3/1/27 | 1,535 | 1,654 | |
Missouri Hsg. Dev. Commission Single Family Mtg. Rev. Series 2019, 4% 5/1/50 | 355 | 356 | |
Saint Louis Arpt. Rev. Series A, 5.25% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 5,370 | 5,769 | |
TOTAL MISSOURI | 19,028 | ||
Montana - 0.2% | |||
Montana Board Hsg. Single Family: | |||
Series 2019 B, 4% 6/1/50 | 195 | 196 | |
Series 2021 B, 3% 12/1/51 | 2,430 | 2,354 | |
Series 2022 A, 3% 6/1/52 | 1,720 | 1,658 | |
Series A1, 3.5% 6/1/50 | 3,025 | 2,990 | |
TOTAL MONTANA | 7,198 | ||
Nebraska - 1.0% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 9,765 | 9,740 | |
Douglas County Hosp. Auth. #2 Health Facilities Rev. Bonds Series 2020, 5%, tender 11/15/25 (b) | 2,200 | 2,308 | |
Lincoln Arpt. Auth. Series 2021: | |||
5% 7/1/24 (c) | 700 | 720 | |
5% 7/1/26 (c) | 750 | 788 | |
5% 7/1/27 (c) | 1,275 | 1,350 | |
5% 7/1/28 (c) | 1,830 | 1,959 | |
5% 7/1/29 (c) | 1,000 | 1,082 | |
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.: | |||
Series 2019 B, 4% 9/1/49 (c) | 980 | 975 | |
Series 2019 E, 3.75% 9/1/49 (c) | 1,075 | 1,065 | |
Nebraska Pub. Pwr. District Rev. Series 2017 B, 5% 1/1/26 | 1,260 | 1,341 | |
Washington County Wstwtr Sol Bonds (Cargill, Inc. Projs.) Series 2012, 0.9%, tender 9/1/25 (b)(c) | 7,400 | 6,995 | |
TOTAL NEBRASKA | 28,323 | ||
Nevada - 1.1% | |||
Clark County Arpt. Rev.: | |||
Series 2013 A, 5% 7/1/28 (c) | 1,475 | 1,475 | |
Series 2014 A2: | |||
5% 7/1/28 | 525 | 542 | |
5% 7/1/30 | 750 | 773 | |
Series 2019 D, 5% 7/1/24 | 1,775 | 1,832 | |
Series 2021 B: | |||
5% 7/1/23 (c) | 625 | 629 | |
5% 7/1/24 (c) | 985 | 1,006 | |
5% 7/1/27 (c) | 6,000 | 6,369 | |
Clark County McCarran Int'l. Arpt. Passenger Facility Charge Rev.: | |||
Series 2019 E: | |||
5% 7/1/25 | 1,275 | 1,346 | |
5% 7/1/27 | 2,245 | 2,456 | |
Series B, 5% 7/1/24 (c) | 2,080 | 2,129 | |
Clark County Poll. Cont. Rev. Bonds Series 2017, 1.65%, tender 3/31/23 (b) | 835 | 831 | |
Clark County School District: | |||
Series 2017 A, 5% 6/15/26 | 1,285 | 1,377 | |
Series 2020 B, 5% 6/15/26 | 5,805 | 6,221 | |
Nevada Gen. Oblig.: | |||
Series 2013 D1, 5% 3/1/24 | 2,640 | 2,649 | |
Series 2015 A, 3% 8/1/29 | 2,175 | 2,190 | |
TOTAL NEVADA | 31,825 | ||
New Hampshire - 0.5% | |||
Nat'l. Fin. Auth. Hosp. Rev. (St. Luke's Univ. Health Network Proj.) Series 2021 B: | |||
5% 8/15/24 | 600 | 617 | |
5% 8/15/28 | 1,125 | 1,235 | |
Nat'l. Fin. Auth. Solid Bonds (Waste Mgmt., Inc. Proj.): | |||
Series 2019 A3, 2.15%, tender 7/1/24 (b)(c) | 4,455 | 4,291 | |
Series 2019 A4, 2.15%, tender 7/1/24 (b)(c) | 2,250 | 2,167 | |
New Hampshire Bus. Fin. Auth. Wtr. Facility (Pennichuck Wtr. Works, Inc. Proj.) Series 2014 A: | |||
5% 1/1/24 (Escrowed to Maturity) (c) | 1,120 | 1,141 | |
5% 1/1/25 (Escrowed to Maturity) (c) | 1,000 | 1,040 | |
New Hampshire Health & Ed. Facilities Auth. Rev. Series 2016, 5% 10/1/23 | 2,785 | 2,819 | |
TOTAL NEW HAMPSHIRE | 13,310 | ||
New Jersey - 6.2% | |||
Camden County Impt. Auth. Health Care Redev. Rev. Series 2014 A, 5% 2/15/23 | 2,770 | 2,774 | |
Hudson County Impt. Auth. (Hudson County Courthouse Proj.) Series 2020, 4% 10/1/24 | 1,400 | 1,428 | |
New Jersey Bldg. Auth. State Bldg. Rev. Series 2016 A, 5% 6/15/24 | 1,720 | 1,763 | |
New Jersey Econ. Dev. Auth. Series 2013, 5% 3/1/27 | 170 | 170 | |
New Jersey Econ. Dev. Auth. Rev.: | |||
(Provident Montclair Proj.) Series 2017: | |||
5% 6/1/23 (Assured Guaranty Muni. Corp. Insured) | 1,230 | 1,239 | |
5% 6/1/24 (Assured Guaranty Muni. Corp. Insured) | 980 | 1,007 | |
Series 2013 NN, 5% 3/1/26 | 1,925 | 1,930 | |
Series 2013, 5% 3/1/25 | 7,670 | 7,691 | |
Series 2014 RR, 5% 6/15/32 (Pre-Refunded to 6/15/24 @ 100) | 375 | 387 | |
Series 2014 UU, 5% 6/15/30 (Pre-Refunded to 6/15/24 @ 100) | 465 | 479 | |
Series 2015 XX: | |||
4% 6/15/24 | 550 | 556 | |
5% 6/15/26 | 975 | 1,016 | |
Series 2019, 5.25% 9/1/24 (d) | 2,580 | 2,666 | |
New Jersey Edl. Facility: | |||
Series 2016 A: | |||
5% 7/1/23 | 3,315 | 3,343 | |
5% 7/1/24 | 7,740 | 7,944 | |
Series 2016 B, 4% 9/1/26 | 320 | 328 | |
New Jersey Gen. Oblig.: | |||
Series 2020 A: | |||
5% 6/1/24 | 10,970 | 11,292 | |
5% 6/1/25 | 5,320 | 5,602 | |
Series 2021: | |||
2% 6/1/23 | 5,700 | 5,664 | |
2% 6/1/29 | 1,965 | 1,788 | |
New Jersey Health Care Facilities Fing. Auth. Rev.: | |||
Bonds: | |||
Series 2019 B1, 5%, tender 7/1/24 (b) | 3,175 | 3,255 | |
Series 2019 B2, 5%, tender 7/1/25 (b) | 3,890 | 4,075 | |
Series 2019 B3, 5%, tender 7/1/26 (b) | 2,750 | 2,929 | |
Series 2016 A: | |||
5% 7/1/23 (Escrowed to Maturity) | 595 | 600 | |
5% 7/1/24 | 1,200 | 1,238 | |
5% 7/1/24 (Escrowed to Maturity) | 985 | 1,015 | |
5% 7/1/24 (Escrowed to Maturity) | 475 | 489 | |
5% 7/1/25 (Escrowed to Maturity) | 515 | 542 | |
5% 7/1/26 (Escrowed to Maturity) | 170 | 182 | |
5% 7/1/27 (Pre-Refunded to 7/1/26 @ 100) | 255 | 274 | |
Series 2016, 5% 7/1/25 | 275 | 289 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | |||
Series 2015 1A, 5% 12/1/24 (c) | 6,015 | 6,186 | |
Series 2017 1A, 5% 12/1/23 (c) | 1,930 | 1,955 | |
Series 2019 A, 5% 12/1/24 | 950 | 984 | |
Series 2020: | |||
5% 12/1/23 (c) | 1,830 | 1,855 | |
5% 12/1/24 (c) | 1,360 | 1,399 | |
5% 12/1/25 (c) | 2,440 | 2,540 | |
5% 12/1/26 (c) | 3,165 | 3,336 | |
Series 2021 A, 5% 12/1/25 (c) | 130 | 135 | |
Series 2021 B: | |||
5% 12/1/25 (c) | 315 | 328 | |
5% 12/1/26 (c) | 1,425 | 1,504 | |
New Jersey Hsg. & Mtg. Fin. Agcy. Rev. Series 2019 D: | |||
4% 4/1/23 (c) | 1,090 | 1,091 | |
4% 10/1/23 (c) | 1,150 | 1,152 | |
4% 4/1/25 (c) | 1,405 | 1,413 | |
New Jersey Tpk. Auth. Tpk. Rev. Series D, 5% 1/1/28 | 1,710 | 1,838 | |
New Jersey Trans. Trust Fund Auth.: | |||
Series 2006 C: | |||
0% 12/15/25 | 6,400 | 5,794 | |
0% 12/15/26 (Assured Guaranty Corp. Insured) | 1,585 | 1,389 | |
0% 12/15/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,820 | 1,517 | |
0% 12/15/31 (FGIC Insured) | 5,400 | 3,760 | |
Series 2010 A: | |||
0% 12/15/25 | 1,140 | 1,026 | |
0% 12/15/27 | 5,520 | 4,588 | |
Series 2013 AA, 5% 6/15/25 | 1,280 | 1,290 | |
Series 2016 A, 5% 6/15/27 | 3,960 | 4,183 | |
Series 2018 A, 5% 6/15/24 | 5,000 | 5,132 | |
Series 2022 AA: | |||
5% 6/15/23 | 985 | 992 | |
5% 6/15/25 | 4,000 | 4,167 | |
5% 6/15/26 | 9,745 | 10,315 | |
5% 6/15/27 | 8,000 | 8,558 | |
5% 6/15/28 | 10,000 | 10,803 | |
Series A: | |||
0% 12/15/26 | 11,265 | 9,749 | |
5% 12/15/24 | 1,780 | 1,843 | |
5% 12/15/25 | 1,680 | 1,766 | |
5% 12/15/26 | 2,600 | 2,773 | |
Rutgers State Univ. Rev. Series Q, 5% 5/1/23 | 540 | 543 | |
TOTAL NEW JERSEY | 179,859 | ||
New Mexico - 1.3% | |||
New Mexico Edl. Assistance Foundation Series 2021 1A: | |||
5% 9/1/25 (c) | 6,250 | 6,514 | |
5% 9/1/28 (c) | 2,000 | 2,167 | |
New Mexico Hosp. Equip. Ln. Council Rev. Bonds Series 2019 B, 5%, tender 8/1/25 (b) | 3,135 | 3,276 | |
New Mexico Mtg. Fin. Auth. Series 2019 C, 4% 1/1/50 | 3,350 | 3,357 | |
New Mexico Muni. Energy Acquisition Auth. Gas Supply Rev.: | |||
Bonds Series 2019 A, 5%, tender 5/1/25 (b) | 15,000 | 15,374 | |
Series 2019 A: | |||
4% 11/1/23 | 710 | 711 | |
4% 5/1/24 | 950 | 953 | |
4% 11/1/24 | 1,450 | 1,458 | |
4% 5/1/25 | 2,790 | 2,805 | |
TOTAL NEW MEXICO | 36,615 | ||
New York - 8.1% | |||
Dorm. Auth. New York Univ. Rev. Series 2016 A, 5% 7/1/24 | 1,810 | 1,853 | |
Hudson Yards Infrastructure Corp. New York Rev. Series 2017 A, 5% 2/15/25 | 4,000 | 4,185 | |
Long Island Pwr. Auth. Elec. Sys. Rev.: | |||
Bonds: | |||
Series 2019 B, 1.65%, tender 9/1/24 (b) | 7,255 | 7,012 | |
Series 2020 B, 0.85%, tender 9/1/25 (b) | 19,810 | 18,462 | |
Series 2021 B, 1.5%, tender 9/1/26 (b) | 3,360 | 3,122 | |
Series 2021, 1% 9/1/25 | 2,805 | 2,554 | |
Monroe County Indl. Dev. Corp. (Univ. of Rochester Proj.): | |||
Series 2017 A, 5% 7/1/25 | 900 | 948 | |
Series 2020 A: | |||
5% 7/1/25 | 750 | 790 | |
5% 7/1/26 | 500 | 537 | |
New York Bridge Auth. Gen. Rev. Series 2021 B, 5% 1/1/27 | 1,500 | 1,623 | |
New York City Gen. Oblig.: | |||
Bonds Series D, 5%, tender 2/1/24 (b) | 2,825 | 2,847 | |
Series 2020 A1, 5% 8/1/27 | 13,205 | 14,492 | |
Series 2021 F1, 5% 3/1/23 | 555 | 557 | |
Series 2022 B1, 5% 8/1/28 | 14,555 | 16,249 | |
Series A, 5% 8/1/26 | 1,000 | 1,081 | |
Series A6, 5% 8/1/25 | 250 | 256 | |
Series F1, 5% 6/1/25 | 470 | 495 | |
Series I1, 5% 3/1/27 | 615 | 630 | |
New York City Health & Hosp. Corp. Rev. Series A: | |||
3% 2/15/24 | 535 | 535 | |
5% 2/15/24 | 750 | 767 | |
New York City Hsg. Dev. Corp. Multifamily Hsg. Bonds: | |||
Series 2021 C2, 0.7%, tender 7/1/25 (b) | 2,210 | 2,047 | |
Series 2021 K2, 0.9%, tender 1/1/26 (b) | 12,290 | 11,232 | |
Series 2021, 0.6%, tender 7/1/25 (b) | 2,905 | 2,683 | |
New York City Indl. Dev. Agcy. Rev. Series 2021 A: | |||
5% 1/1/25 (Assured Guaranty Muni. Corp. Insured) | 1,000 | 1,038 | |
5% 1/1/26 (Assured Guaranty Muni. Corp. Insured) | 1,000 | 1,057 | |
5% 1/1/27 (Assured Guaranty Muni. Corp. Insured) | 1,000 | 1,073 | |
New York City Muni. Wtr. Fin. Auth. Series 2021 DD, 5% 6/15/25 | 1,535 | 1,624 | |
New York City Transitional Fin. Auth. Rev.: | |||
Series 2017 E1, 5% 2/1/30 | 2,830 | 3,073 | |
Series 2021 F1, 5% 11/1/25 | 2,060 | 2,195 | |
Series 2022 B1, 5% 11/1/25 | 8,000 | 8,523 | |
Series E1, 5% 2/1/26 | 475 | 497 | |
New York Dorm. Auth. Rev.: | |||
Bonds Series 2019 B2, 5%, tender 5/1/24 (b) | 2,005 | 2,032 | |
Series 2015 A: | |||
5% 7/1/28 | 370 | 384 | |
5% 7/1/28 (Pre-Refunded to 7/1/25 @ 100) | 30 | 32 | |
Series 2022: | |||
5% 7/1/26 | 675 | 701 | |
5% 7/1/27 | 710 | 743 | |
5% 7/1/28 | 750 | 791 | |
5% 7/1/29 | 1,065 | 1,128 | |
New York Dorm. Auth. Sales Tax Rev. Series 2017 A, 5% 3/15/31 | 2,745 | 2,978 | |
New York Envir. Facilities Corp. Clean Wtr. & Drinking Wtr. (NY Muni. Wtr. Fin. Auth. Projs.) Series 2020 A, 5% 6/15/24 | 1,400 | 1,448 | |
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev.: | |||
Series 2012 A, 5% 11/15/25 | 1,340 | 1,341 | |
Series 2016 A, 5% 11/15/24 | 525 | 546 | |
Series 2016 B1: | |||
5% 11/15/24 | 670 | 697 | |
5% 11/15/25 | 1,000 | 1,062 | |
Series 2017 B1, 4% 11/15/25 | 250 | 258 | |
Series 2017 B2, 5% 11/15/25 | 1,450 | 1,539 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2015 A, 5% 11/15/24 | 1,000 | 1,026 | |
Series 2015 A1, 5% 11/15/29 | 765 | 778 | |
Series 2016 A: | |||
5% 11/15/23 | 2,680 | 2,715 | |
5% 11/15/23 | 1,450 | 1,469 | |
Series 2016 D, 5% 11/15/27 | 1,500 | 1,558 | |
Series 2017 A2: | |||
5% 11/15/25 | 2,620 | 2,716 | |
5% 11/15/26 | 5,815 | 6,077 | |
Series 2017 B: | |||
5% 11/15/23 | 4,025 | 4,077 | |
5% 11/15/24 | 665 | 682 | |
Series 2017 C1, 5% 11/15/28 | 4,340 | 4,505 | |
New York State Dorm. Auth.: | |||
Series 2018 A, 5% 3/15/27 (Escrowed to Maturity) | 970 | 1,062 | |
Series 2019 D, 5% 2/15/25 | 1,030 | 1,080 | |
Series 2021 A: | |||
5% 3/15/27 | 2,975 | 3,254 | |
5% 3/15/29 | 1,500 | 1,702 | |
New York State Hsg. Fin. Agcy. Rev.: | |||
Bonds: | |||
Series 2021 D2, 0.65%, tender 11/1/25 (b) | 2,770 | 2,534 | |
Series 2021 J2: | |||
1%, tender 11/1/26 (b) | 1,770 | 1,597 | |
1.1%, tender 5/1/27 (b) | 6,610 | 5,890 | |
Series J, 0.75% 5/1/25 | 3,030 | 2,842 | |
New York State Mtg. Agcy. Homeowner Mtg.: | |||
Series 2021 232: | |||
5% 4/1/25 (c) | 1,130 | 1,166 | |
5% 10/1/26 (c) | 1,580 | 1,662 | |
Series 221, 3.5% 10/1/32 (c) | 420 | 411 | |
New York Thruway Auth. Gen. Rev. Series 2014 K, 5% 1/1/32 | 795 | 826 | |
New York Trans. Dev. Corp.: | |||
(Term. 4 JFK Int'l. Arpt. Proj.): | |||
Series 2020 A: | |||
5% 12/1/24 (c) | 1,500 | 1,540 | |
5% 12/1/25 (c) | 2,295 | 2,375 | |
5% 12/1/26 (c) | 1,180 | 1,235 | |
Series 2020 C: | |||
5% 12/1/24 | 1,000 | 1,035 | |
5% 12/1/25 | 800 | 840 | |
5% 12/1/26 | 1,250 | 1,323 | |
5% 12/1/27 | 1,250 | 1,327 | |
(Term. 4 John F. Kennedy Int'l. Arpt. Proj.) Series 2022: | |||
5% 12/1/26 (c) | 7,810 | 8,172 | |
5% 12/1/27 (c) | 10,415 | 10,949 | |
New York Urban Dev. Corp. Rev. Series 2015 A, 5% 3/15/26 | 250 | 265 | |
Niagara Frontier Trans. Auth. Arpt. Rev. Series 2019 A: | |||
5% 4/1/25 (c) | 625 | 644 | |
5% 4/1/27 (c) | 1,350 | 1,418 | |
Suffolk County Gen. Oblig.: | |||
Series 2022 A: | |||
5% 6/15/24 | 655 | 674 | |
5% 6/15/25 | 695 | 731 | |
5% 6/15/29 | 965 | 1,086 | |
Series 2022 B: | |||
5% 10/1/23 | 1,300 | 1,318 | |
5% 10/1/25 | 800 | 847 | |
5% 10/1/26 | 410 | 442 | |
5% 10/1/28 | 670 | 747 | |
Syracuse Reg'l. Arpt. Auth. Series 2021: | |||
5% 7/1/25 (c) | 750 | 775 | |
5% 7/1/26 (c) | 1,145 | 1,193 | |
5% 7/1/27 (c) | 1,515 | 1,592 | |
Tobacco Settlement Asset Securitization Corp. Series 2017, 5% 6/1/24 | 1,500 | 1,527 | |
Triborough Bridge & Tunnel Auth. Bonds: | |||
Series 2021 A2: | |||
2%, tender 5/15/26 (b) | 7,870 | 7,186 | |
2%, tender 5/15/28 (b) | 2,575 | 2,309 | |
Series 2021 B, 5%, tender 5/15/26 (b) | 2,470 | 2,626 | |
TOTAL NEW YORK | 233,522 | ||
New York And New Jersey - 0.7% | |||
Port Auth. of New York & New Jersey: | |||
Series 178, 5% 12/1/23 (c) | 1,060 | 1,073 | |
Series 185, 5% 9/1/23 (c) | 2,870 | 2,895 | |
Series 188, 5% 5/1/25 (c) | 1,980 | 2,050 | |
Series 193: | |||
5% 10/15/25 (c) | 3,550 | 3,703 | |
5% 10/15/29 (c) | 1,350 | 1,399 | |
Series 223: | |||
5% 7/15/25 (c) | 1,500 | 1,558 | |
5% 7/15/26 (c) | 2,250 | 2,372 | |
5% 7/15/27 (c) | 3,055 | 3,261 | |
5% 7/15/28 (c) | 2,500 | 2,701 | |
TOTAL NEW YORK AND NEW JERSEY | 21,012 | ||
North Carolina - 2.2% | |||
Asheville Spl. Obligations Series 2021, 5% 4/1/25 | 1,530 | 1,608 | |
Charlotte Int'l. Arpt. Rev.: | |||
Series 2019 B, 5% 7/1/27 (c) | 735 | 780 | |
Series 2021 B: | |||
5% 7/1/26 (c) | 5,535 | 5,824 | |
5% 7/1/27 (c) | 4,500 | 4,777 | |
5% 7/1/28 (c) | 1,675 | 1,791 | |
5% 7/1/29 (c) | 865 | 932 | |
Charlotte-Mecklenburg Hosp. Auth. Health Care Sys. Rev. Bonds: | |||
Series 2021 B, 5%, tender 12/2/24 (b) | 4,200 | 4,356 | |
Series 2021 C, 5%, tender 12/1/28 (b) | 1,570 | 1,735 | |
New Hanover County Hosp. Rev. Series 2017: | |||
5% 10/1/25 (Escrowed to Maturity) | 1,115 | 1,181 | |
5% 10/1/26 (Escrowed to Maturity) | 1,360 | 1,468 | |
North Carolina Cap. Facilities Fin. Agcy. Edl. Facilities Rev. Series 2021, 5% 5/1/25 | 260 | 271 | |
North Carolina Grant Anticipation Rev. Series 2021: | |||
5% 3/1/25 | 3,000 | 3,146 | |
5% 3/1/27 | 2,305 | 2,521 | |
5% 3/1/28 | 2,375 | 2,641 | |
North Carolina Hsg. Fin. Agcy. Home Ownership Rev. Series 43, 4% 7/1/50 | 5,560 | 5,571 | |
North Carolina Med. Care Commission Health Care Facilities Rev. Bonds Series 2019 C, 2.55%, tender 6/1/26 (b) | 7,335 | 7,170 | |
North Carolina Med. Care Commission Hosp. Rev. Bonds Series 2021 B, 5%, tender 2/1/26 (b) | 1,110 | 1,174 | |
North Carolina Tpk. Auth. Triangle Expressway Sys. Series 2020 C, 5% 2/1/24 | 13,610 | 13,863 | |
Raleigh Durham Arpt. Auth. Arpt. Rev. Series 2020 A, 5% 5/1/27 (c) | 355 | 376 | |
Union County Enterprise Systems Rev. Series 2021: | |||
5% 6/1/25 | 1,000 | 1,055 | |
5% 6/1/26 | 750 | 809 | |
5% 6/1/27 | 775 | 850 | |
TOTAL NORTH CAROLINA | 63,899 | ||
North Dakota - 0.2% | |||
North Dakota Hsg. Fin. Agcy.: | |||
Series 2021 A, 3% 1/1/52 | 1,540 | 1,495 | |
Series 2021 B, 3% 7/1/52 | 4,155 | 3,994 | |
TOTAL NORTH DAKOTA | 5,489 | ||
Ohio - 2.0% | |||
Akron Bath Copley Hosp. District Rev.: | |||
Series 2016, 5% 11/15/24 | 1,955 | 2,009 | |
Series 2020: | |||
5% 11/15/26 | 375 | 395 | |
5% 11/15/27 | 185 | 197 | |
Allen County Hosp. Facilities Rev. Series 2020 A, 5% 12/1/23 | 1,045 | 1,062 | |
American Muni. Pwr., Inc. Rev.: | |||
Bonds Series 2021 A2, 1%, tender 8/15/24 (b) | 2,150 | 2,061 | |
Series 2021 A: | |||
5% 2/15/26 | 300 | 318 | |
5% 2/15/27 | 400 | 431 | |
Cleveland Arpt. Sys. Rev. Series 2016 A: | |||
5% 1/1/24 (Assured Guaranty Muni. Corp. Insured) | 1,175 | 1,199 | |
5% 1/1/25 (Assured Guaranty Muni. Corp. Insured) | 1,225 | 1,273 | |
5% 1/1/26 (Assured Guaranty Muni. Corp. Insured) | 490 | 509 | |
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013, 5% 6/15/23 | 1,815 | 1,821 | |
Franklin County Hosp. Facilities Rev. Bonds (U.S. Health Corp. of Columbus Proj.) Series 2011 B, 5%, tender 5/15/23 (b) | 965 | 971 | |
Miami County Hosp. Facilities Rev. (Kettering Health Network Obligated Group Proj.) Series 2019: | |||
5% 8/1/27 | 1,000 | 1,078 | |
5% 8/1/28 | 1,000 | 1,091 | |
Miami Univ. Series 2022 A: | |||
5% 9/1/23 | 735 | 745 | |
5% 9/1/24 | 125 | 129 | |
Montgomery County Hosp. Rev. (Kettering Health Network Obligated Group Proj.)) Series 2021: | |||
5% 8/1/27 | 575 | 620 | |
5% 8/1/28 | 500 | 545 | |
Ohio Cap. Facilities Lease (Adult Correctional Bldg. Fund Projs.) Series 2021 A: | |||
5% 10/1/25 | 2,000 | 2,122 | |
5% 10/1/26 | 1,750 | 1,896 | |
Ohio Hosp. Facilities Rev.: | |||
Series 2017 A, 5% 1/1/25 | 2,035 | 2,120 | |
Series 2021 B: | |||
5% 1/1/23 | 450 | 450 | |
5% 1/1/25 | 1,935 | 2,016 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev.: | |||
(Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 | 275 | 279 | |
Series 2021 C, 3.25% 3/1/51 | 17,755 | 17,336 | |
Ohio Tpk. Commission Tpk. Rev. (Infrastructure Projs.) Series 2022 A, 5% 2/15/24 | 2,445 | 2,503 | |
Scioto County Hosp. Facilities Rev.: | |||
Series 2016: | |||
5% 2/15/23 | 2,075 | 2,078 | |
5% 2/15/24 | 3,215 | 3,272 | |
5% 2/15/25 | 2,065 | 2,140 | |
5% 2/15/26 | 1,285 | 1,345 | |
Series 2019, 5% 2/15/29 | 2,020 | 2,108 | |
Univ. of Akron Gen. Receipts Series 2019 A: | |||
5% 1/1/23 | 445 | 445 | |
5% 1/1/24 | 760 | 775 | |
5% 1/1/25 | 1,100 | 1,135 | |
TOTAL OHIO | 58,474 | ||
Oklahoma - 0.0% | |||
Oklahoma Tpk. Auth. Tpk. Rev. Series 2017 D, 5% 1/1/25 | 775 | 807 | |
Oregon - 0.5% | |||
Oregon Bus. Dev. Commission Recovery Zone Facility Bonds (Intel Corp. Proj.) Series 232, 2.4%, tender 8/14/23 (b) | 10,405 | 10,324 | |
Oregon Facilities Auth. Rev. (Samaritan Health Svcs. Proj.): | |||
Series 2020 A: | |||
5% 10/1/24 | 200 | 206 | |
5% 10/1/25 | 225 | 234 | |
5% 10/1/26 | 150 | 158 | |
Series A, 5% 10/1/27 | 150 | 159 | |
Oregon State Hsg. & Cmnty. Svcs. Dept. (Single Family Mtg. Prog.) Series A, 3.5% 1/1/51 | 1,475 | 1,458 | |
Port of Portland Arpt. Rev.: | |||
Series 2020 27 A, 5% 7/1/29 (c) | 430 | 463 | |
Series 27 A, 5% 7/1/26 (c) | 1,515 | 1,594 | |
TOTAL OREGON | 14,596 | ||
Pennsylvania - 2.1% | |||
Allegheny County Arpt. Auth. Rev. Series 2021 A: | |||
5% 1/1/26 (c) | 1,750 | 1,823 | |
5% 1/1/27 (c) | 2,000 | 2,109 | |
5% 1/1/28 (c) | 2,250 | 2,392 | |
Allegheny County Indl. Dev. Auth. Rev. Series 2021, 3.5% 12/1/31 | 1,075 | 887 | |
Allegheny County Sanitation Auth. Swr. Rev. Series 2020 A: | |||
4% 6/1/25 | 200 | 206 | |
5% 6/1/26 | 1,000 | 1,076 | |
Commonwealth Fing. Auth. Rev. Series 2020 A: | |||
5% 6/1/24 | 1,475 | 1,515 | |
5% 6/1/25 | 1,150 | 1,205 | |
Montgomery County Higher Ed. & Health Auth. Rev.: | |||
Series 2014 A, 5% 10/1/23 | 190 | 191 | |
Series 2019, 5% 9/1/29 | 1,000 | 1,102 | |
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Waste Mgmt., Inc. Proj.) Series 2017 A, 0.58%, tender 8/1/24 (b)(c) | 1,100 | 1,031 | |
Series 2011, 2.15%, tender 7/1/24 (b)(c) | 1,000 | 963 | |
Pennsylvania Gen. Oblig. Series 2019: | |||
5% 7/15/25 | 8,685 | 9,178 | |
5% 7/15/28 | 1,760 | 1,957 | |
5% 7/15/29 | 1,395 | 1,573 | |
Pennsylvania Higher Edl. Facilities Auth. Rev. Series 2016 C, 5% 8/15/25 | 2,855 | 3,023 | |
Pennsylvania Hsg. Fin. Agcy.: | |||
Series 2020 13 2A, 3.5% 4/1/51 | 860 | 852 | |
Series 2021 137, 3% 10/1/51 | 5,850 | 5,576 | |
Pennsylvania Tpk. Commission Tpk. Rev. Series 2021 B: | |||
5% 12/1/25 | 860 | 909 | |
5% 12/1/26 | 1,000 | 1,075 | |
5% 12/1/27 | 750 | 819 | |
Philadelphia Arpt. Rev.: | |||
Series 2015 A, 5% 6/15/24 (c) | 600 | 613 | |
Series 2017 A, 5% 7/1/24 | 490 | 504 | |
Series 2017 B: | |||
5% 7/1/24 (c) | 4,790 | 4,897 | |
5% 7/1/25 (c) | 1,700 | 1,761 | |
Series 2021: | |||
5% 7/1/28 (c) | 3,100 | 3,314 | |
5% 7/1/29 (c) | 1,830 | 1,964 | |
Philadelphia School District: | |||
Series 2018 A: | |||
5% 9/1/24 | 1,000 | 1,032 | |
5% 9/1/25 | 700 | 735 | |
5% 9/1/26 | 750 | 799 | |
Series 2019 A: | |||
5% 9/1/23 | 315 | 319 | |
5% 9/1/24 | 1,050 | 1,083 | |
5% 9/1/25 | 1,200 | 1,260 | |
Series 2019 B, 5% 9/1/24 | 1,000 | 1,032 | |
Reading School District Series 2017: | |||
5% 3/1/25 (Assured Guaranty Muni. Corp. Insured) | 320 | 333 | |
5% 3/1/26 (Assured Guaranty Muni. Corp. Insured) | 260 | 276 | |
5% 3/1/27 (Assured Guaranty Muni. Corp. Insured) | 250 | 270 | |
5% 3/1/28 (Assured Guaranty Muni. Corp. Insured) | 245 | 262 | |
TOTAL PENNSYLVANIA | 59,916 | ||
Puerto Rico - 0.9% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth. Series 2022 A, 5% 7/1/28 (d) | 7,500 | 7,415 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig.: | |||
Series 2021 A1: | |||
0% 7/1/24 | 1,254 | 1,162 | |
5.25% 7/1/23 | 10,132 | 10,132 | |
Series 2022 A1, 5.375% 7/1/25 | 6,360 | 6,408 | |
TOTAL PUERTO RICO | 25,117 | ||
Rhode Island - 1.1% | |||
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev. Series 2016: | |||
5% 5/15/23 | 1,180 | 1,184 | |
5% 5/15/24 | 2,300 | 2,334 | |
5% 5/15/25 | 5,385 | 5,514 | |
Rhode Island Health & Edl. Bldg. Corp. Pub. Schools Rev. Series 2015, 5% 5/15/25 (Assured Guaranty Muni. Corp. Insured) | 5,910 | 6,214 | |
Rhode Island Hsg. & Mtg. Fin. Corp. Series 2019 70, 4% 10/1/49 | 600 | 601 | |
Rhode Island Hsg. & Mtg. Fin. Corp. Rev. Series 72 A, 3.5% 10/1/50 | 1,210 | 1,196 | |
Rhode Island Student Ln. Auth. Student Ln. Rev.: | |||
Series 2018 A, 5% 12/1/25 (c) | 845 | 879 | |
Series 2019 A: | |||
5% 12/1/23 (c) | 750 | 760 | |
5% 12/1/24 (c) | 1,275 | 1,307 | |
5% 12/1/25 (c) | 1,900 | 1,985 | |
5% 12/1/26 (c) | 1,000 | 1,056 | |
5% 12/1/28 (c) | 510 | 549 | |
Series 2021 A, 5% 12/1/27 (c) | 900 | 960 | |
Series A: | |||
4% 12/1/26 (c) | 355 | 359 | |
5% 12/1/26 (c) | 1,200 | 1,267 | |
Tobacco Settlement Fing. Corp. Series 2015 A: | |||
5% 6/1/24 | 1,885 | 1,911 | |
5% 6/1/26 | 3,425 | 3,502 | |
5% 6/1/27 | 980 | 1,002 | |
TOTAL RHODE ISLAND | 32,580 | ||
South Carolina - 1.1% | |||
Scago Edl. Facilities Corp. for Colleton School District (School District of Colleton County Proj.) Series 2015: | |||
5% 12/1/23 | 4,345 | 4,422 | |
5% 12/1/26 | 1,075 | 1,126 | |
South Carolina Hsg. Fin. & Dev. Auth. Mtg. Rev. Series 2019 A, 4% 1/1/50 | 1,030 | 1,033 | |
South Carolina Ports Auth. Ports Rev.: | |||
Series 2015 (AMT), 5% 7/1/45 (Pre-Refunded to 7/1/25 @ 100) (c) | 2,810 | 2,925 | |
Series 2015: | |||
5.25% 7/1/50 (Pre-Refunded to 7/1/25 @ 100) (c) | 4,805 | 5,030 | |
5.25% 7/1/55 (Pre-Refunded to 7/1/25 @ 100) (c) | 2,310 | 2,418 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2014 C, 5% 12/1/23 (Escrowed to Maturity) | 4,890 | 4,979 | |
Series 2015 A, 5% 12/1/25 | 1,000 | 1,041 | |
Series 2021 A: | |||
5% 12/1/26 | 670 | 713 | |
5% 12/1/27 | 750 | 807 | |
Series 2021 B: | |||
5% 12/1/24 | 1,400 | 1,448 | |
5% 12/1/25 | 500 | 525 | |
5% 12/1/26 | 500 | 532 | |
5% 12/1/27 | 450 | 484 | |
5% 12/1/28 | 800 | 869 | |
Series A, 5% 12/1/23 (Escrowed to Maturity) | 2,995 | 3,050 | |
TOTAL SOUTH CAROLINA | 31,402 | ||
Tennessee - 1.6% | |||
Metropolitan Nashville Arpt. Auth. Rev. Series 2019 B: | |||
5% 7/1/26 (c) | 2,000 | 2,098 | |
5% 7/1/27 (c) | 2,435 | 2,585 | |
5% 7/1/28 (c) | 3,125 | 3,341 | |
5% 7/1/29 (c) | 3,800 | 4,078 | |
5% 7/1/30 (c) | 3,000 | 3,248 | |
Nashville and Davidson County Metropolitan Govt. Gen. Oblig. Series 2022 B, 4% 1/1/26 | 8,000 | 8,309 | |
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 11,590 | 11,759 | |
Tennessee Energy Acquisition Corp. Bonds (Gas Rev. Proj.) Series A, 4%, tender 5/1/23 (b) | 6,040 | 6,050 | |
Tennessee Gen. Oblig. Series 2015 A, 5% 8/1/28 (Pre-Refunded to 8/1/25 @ 100) | 2,000 | 2,118 | |
Tennessee Hsg. Dev. Agcy. Residential Series 2021 3A, 3% 1/1/52 | 1,655 | 1,601 | |
TOTAL TENNESSEE | 45,187 | ||
Texas - 11.6% | |||
Aledo Independent School District Series 2015, 0% 2/15/24 | 1,195 | 1,153 | |
Austin Arpt. Sys. Rev.: | |||
Series 2019 B: | |||
5% 11/15/23 (c) | 620 | 629 | |
5% 11/15/24 (c) | 675 | 696 | |
5% 11/15/25 (c) | 650 | 679 | |
Series 2019, 5% 11/15/24 (c) | 2,500 | 2,579 | |
Birdville Independent School District Series 2021, 5% 2/15/26 | 800 | 856 | |
Central Reg'l. Mobility Auth.: | |||
Series 2016: | |||
5% 1/1/24 | 3,295 | 3,361 | |
5% 1/1/26 | 2,800 | 2,943 | |
Series 2020 F, 5% 1/1/25 | 4,455 | 4,571 | |
Series 2021 C, 5% 1/1/27 | 6,865 | 7,208 | |
City of Denton Series 2020 A, 5% 2/15/26 | 1,025 | 1,097 | |
Clear Creek Independent School District Bonds Series 2021 B, 0.28%, tender 8/15/24 (b) | 4,370 | 4,123 | |
Clint Independent School District Series 2015 A, 5% 2/15/26 | 1,600 | 1,672 | |
Collin County Series 2020, 5% 2/15/26 | 1,040 | 1,113 | |
Comal County Series 2017, 4% 2/1/26 | 1,780 | 1,848 | |
Cypress-Fairbanks Independent School District: | |||
Bonds: | |||
Series 2015 B1, 0.28%, tender 8/15/24 (b) | 6,405 | 6,129 | |
Series 2015 B2, 0.28%, tender 8/15/24 (b) | 10,080 | 9,646 | |
Series 2020 A, 5% 2/15/25 | 1,330 | 1,393 | |
Dallas Fort Worth Int'l. Arpt. Rev.: | |||
Series 2014 A, 5.25% 11/1/27 (c) | 1,175 | 1,190 | |
Series 2014 D, 5% 11/1/23 (c) | 1,905 | 1,928 | |
Series 2020 A, 5% 11/1/26 | 2,595 | 2,808 | |
Dallas Gen. Oblig. Series 2018, 5% 2/15/25 | 2,060 | 2,156 | |
Dallas Independent School District Series 2021, 4% 2/15/25 | 1,835 | 1,879 | |
Denton Independent School District: | |||
Bonds Series 2014 B: | |||
2%, tender 8/1/24 (b) | 265 | 262 | |
2%, tender 8/1/24 (b) | 3,085 | 3,008 | |
Series 2016, 0% 8/15/25 | 1,610 | 1,496 | |
El Paso Independent School District Series 2020: | |||
5% 8/15/23 | 500 | 506 | |
5% 8/15/24 | 650 | 673 | |
Fort Bend Independent School District Bonds: | |||
Series 2020 B, 0.875%, tender 8/1/25 (b) | 9,565 | 8,936 | |
Series 2021 B, 0.72%, tender 8/1/26 (b) | 3,035 | 2,699 | |
Fort Worth Gen. Oblig. Series 2020, 5% 3/1/26 | 3,800 | 4,070 | |
Fort Worth Independent School District Series 2019 B, 5% 2/15/25 | 1,805 | 1,892 | |
Goose Creek Consolidated Independent School District Bonds Series 2021 B, 0.6%, tender 8/17/26 (b) | 3,500 | 3,208 | |
Hallsville Independent School District Series 2020, 5% 2/15/30 | 1,000 | 1,128 | |
Harris County Cultural Ed. Facilities Fin. Corp. Med. Facilities Rev. Series 2016, 5% 11/15/25 | 1,500 | 1,575 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev.: | |||
Bonds: | |||
Series 2019 B, 5%, tender 12/1/26 (b) | 6,545 | 6,993 | |
Series 2020 A, 0.9%, tender 5/15/25 (b) | 1,850 | 1,714 | |
Series 2020 C, 5%, tender 12/1/26 (b) | 7,000 | 7,479 | |
Series 2014 A, 5% 12/1/26 | 1,085 | 1,126 | |
Hays Consolidated Independent School District Series 2022: | |||
5% 2/15/27 | 650 | 709 | |
5% 2/15/28 | 650 | 722 | |
5% 2/15/29 | 1,000 | 1,130 | |
Houston Arpt. Sys. Rev.: | |||
Series 2018 A: | |||
5% 7/1/23 (c) | 750 | 755 | |
5% 7/1/25 (c) | 1,550 | 1,609 | |
Series 2018 C: | |||
5% 7/1/23 (c) | 1,500 | 1,509 | |
5% 7/1/26 (c) | 500 | 526 | |
5% 7/1/27 (c) | 905 | 961 | |
Series 2020 B, 5% 7/1/26 | 2,250 | 2,420 | |
Houston Gen. Oblig. Series 2017 A, 5% 3/1/27 | 1,545 | 1,680 | |
Houston Independent School District Bonds Series 2014 A, 4%, tender 6/1/23 (b) | 6,270 | 6,285 | |
Kilgore Independent School District Series 2020, 5% 2/15/26 | 1,075 | 1,149 | |
Love Field Arpt. Modernization Rev.: | |||
Series 2015: | |||
5% 11/1/23 (c) | 2,125 | 2,150 | |
5% 11/1/26 (c) | 1,075 | 1,121 | |
5% 11/1/30 (c) | 1,960 | 2,026 | |
Series 2021: | |||
5% 11/1/23 (c) | 895 | 906 | |
5% 11/1/24 (c) | 2,615 | 2,691 | |
5% 11/1/25 (c) | 3,920 | 4,075 | |
5% 11/1/26 (c) | 2,845 | 2,985 | |
5% 11/1/27 (c) | 2,885 | 3,048 | |
5% 11/1/28 (c) | 11,150 | 11,863 | |
5% 11/1/29 (c) | 11,705 | 12,525 | |
Lower Colorado River Auth. Rev.: | |||
(LCRA Transmission Svcs. Corp. Proj.) Series 2021, 5% 5/15/25 | 1,315 | 1,373 | |
Series 2022: | |||
5% 5/15/25 (Assured Guaranty Muni. Corp. Insured) | 1,670 | 1,744 | |
5% 5/15/26 (Assured Guaranty Muni. Corp. Insured) | 1,805 | 1,934 | |
5% 5/15/27 (Assured Guaranty Muni. Corp. Insured) | 1,385 | 1,509 | |
Lubbock Elec. Lt. & Pwr. Sys. Rev. Series 2021, 5% 4/15/27 | 1,450 | 1,574 | |
Mansfield Independent School District Series 2016, 5% 2/15/24 | 4,185 | 4,285 | |
McKinney Independent School District Series 2021: | |||
5% 2/15/26 | 1,245 | 1,333 | |
5% 2/15/27 | 1,300 | 1,419 | |
Midlothian Independent School District Bonds Series 2013 C, 2%, tender 8/1/24 (b) | 1,645 | 1,606 | |
Midway Independent School District Series 2021, 4% 8/1/27 | 1,425 | 1,500 | |
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2018, 4.035%, tender 7/1/24 (b)(c) | 8,320 | 8,068 | |
New Caney Independent School District Bonds Series 2018, 1.25%, tender 8/15/24 (b) | 7,200 | 6,949 | |
Newark Higher Ed. Fin. Corp. (Abilene Christian Univ. Proj.) Series 2016 A, 5% 4/1/26 | 2,425 | 2,555 | |
North East Texas Independent School District Bonds Series 2019, 2.2%, tender 8/1/24 (b) | 2,345 | 2,304 | |
North Texas Tollway Auth. Rev.: | |||
Series 2019 B, 5% 1/1/25 | 1,435 | 1,489 | |
Series 2021 B, 5% 1/1/29 | 1,970 | 2,168 | |
Northside Independent School District Bonds: | |||
Series 2019, 1.6%, tender 8/1/24 (b) | 7,720 | 7,476 | |
Series 2020, 0.7%, tender 6/1/25 (b) | 9,665 | 9,109 | |
Pasadena Independent School District Bonds Series 2015 B, 1.5%, tender 8/15/24 (b) | 6,615 | 6,469 | |
Pearland Gen. Oblig. Series 2020, 5% 3/1/24 | 715 | 732 | |
Pflugerville Independent School District Bonds Series 2019 B, 2.5%, tender 8/15/23 (b) | 1,480 | 1,467 | |
Pharr San Juan Alamo Independent School District Series 2016, 5% 2/1/26 | 1,130 | 1,181 | |
Plano Wtrwks. & Swr. Sys. Rev. Series 2021, 4% 5/1/28 | 1,110 | 1,185 | |
Prosper Independent School District: | |||
Bonds Series 2019 B, 2%, tender 8/15/23 (b) | 10,000 | 9,894 | |
Series 2021 A, 5% 2/15/26 | 1,015 | 1,087 | |
San Antonio Arpt. Sys. Rev. Series 2019 A: | |||
5% 7/1/23 (c) | 555 | 559 | |
5% 7/1/23 (c) | 505 | 508 | |
5% 7/1/24 (c) | 1,750 | 1,790 | |
5% 7/1/24 (c) | 1,000 | 1,023 | |
5% 7/1/25 (c) | 1,250 | 1,297 | |
5% 7/1/25 (c) | 1,350 | 1,398 | |
5% 7/1/26 (c) | 1,500 | 1,578 | |
5% 7/1/26 (c) | 1,460 | 1,530 | |
San Antonio Elec. & Gas Sys. Rev. Bonds: | |||
Series 2015 D, 1.125%, tender 12/1/26 (b) | 10,810 | 9,496 | |
Series 2022, 2%, tender 12/1/27 (b) | 3,145 | 2,951 | |
Tarrant County College Series 2022, 5% 8/15/27 | 3,000 | 3,299 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev.: | |||
(Scott & White Healthcare Proj.) Series 2013 A, 5% 8/15/23 (Escrowed to Maturity) | 980 | 992 | |
Bonds (Baylor Scott & White Health Proj.) Series 2022 E, 5%, tender 5/15/26 (b) | 4,490 | 4,740 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev.: | |||
Series 2016 A, 5% 2/15/26 | 1,465 | 1,557 | |
Series 2017 A, 5% 2/15/24 | 1,955 | 1,998 | |
Tarrant Reg'l. Wtr. District (City of Dallas Proj.) Series 2021 A, 4% 9/1/25 | 2,815 | 2,912 | |
Texas Gen. Oblig. Series 2020 B: | |||
3% 8/1/25 (c) | 4,610 | 4,590 | |
3% 8/1/26 (c) | 4,845 | 4,786 | |
4% 8/1/27 (c) | 5,085 | 5,277 | |
Texas Trans. Commission Hwy. Impt. Gen. Oblig. Bonds Series 2014 B, 0.65%, tender 4/1/26 (b) | 15,910 | 14,481 | |
Texas Wtr. Dev. Board Rev. Series 2016: | |||
4% 10/15/30 | 4,600 | 4,817 | |
5% 4/15/29 | 7,500 | 8,131 | |
Wichita Falls Independent School District Series 2021: | |||
4% 2/1/25 | 600 | 615 | |
4% 2/1/26 | 850 | 882 | |
4% 2/1/27 | 1,100 | 1,148 | |
4% 2/1/28 | 900 | 946 | |
TOTAL TEXAS | 334,978 | ||
Utah - 0.6% | |||
Salt Lake City Arpt. Rev.: | |||
Series 2017 A, 5% 7/1/27 (c) | 510 | 541 | |
Series 2018 A, 5% 7/1/26 (c) | 2,550 | 2,678 | |
Series 2021 B: | |||
5% 7/1/24 | 250 | 257 | |
5% 7/1/25 | 530 | 555 | |
5% 7/1/26 | 1,150 | 1,227 | |
5% 7/1/27 | 750 | 813 | |
Utah County Hosp. Rev. Bonds Series 2020 B2, 5%, tender 8/1/26 (b) | 10,605 | 11,291 | |
TOTAL UTAH | 17,362 | ||
Vermont - 0.2% | |||
Vermont Hsg. Fin. Agcy. Series 2021 B, 3% 11/1/51 | 1,924 | 1,841 | |
Vermont Student Assistant Corp. Ed. Ln. Rev.: | |||
Series 2017 A: | |||
5% 6/15/26 (c) | 1,045 | 1,096 | |
5% 6/15/27 (c) | 560 | 593 | |
Series 2021 A: | |||
5% 6/15/27 (c) | 350 | 371 | |
5% 6/15/28 (c) | 425 | 450 | |
5% 6/15/29 (c) | 400 | 426 | |
TOTAL VERMONT | 4,777 | ||
Virginia - 0.7% | |||
Arlington County IDA Hosp. Facilities Series 2020, 5% 7/1/25 | 500 | 522 | |
Fredericksburg Econ. Dev. Auth. Rev. Series 2014, 5% 6/15/24 | 2,290 | 2,346 | |
Louisa Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2008 B, 0.75%, tender 9/2/25 (b) | 6,750 | 6,118 | |
Norfolk Arpt. Auth. Series 2021 A: | |||
5% 7/1/27 | 750 | 813 | |
5% 7/1/28 | 1,000 | 1,100 | |
Stafford County Econ. Dev. Auth. Hosp. Facilities Rev. Series 2016: | |||
5% 6/15/24 | 1,185 | 1,214 | |
5% 6/15/25 | 980 | 1,023 | |
5% 6/15/26 | 1,680 | 1,779 | |
Virginia Pub. School Auth. Series 2014 B, 5% 8/1/24 | 1,000 | 1,035 | |
Wise County Indl. Dev. Auth. Waste & Sewage Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.): | |||
Series 2009 A, 0.75%, tender 9/2/25 (b) | 3,000 | 2,719 | |
Series 2010 A, 1.2%, tender 5/31/24 (b) | 1,725 | 1,646 | |
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) | 800 | 791 | |
TOTAL VIRGINIA | 21,106 | ||
Washington - 2.7% | |||
King County Hsg. Auth. Rev.: | |||
Series 2019: | |||
4% 11/1/24 | 1,075 | 1,094 | |
4% 11/1/25 | 1,260 | 1,297 | |
4% 11/1/30 | 1,575 | 1,649 | |
Series 2021: | |||
2% 12/1/23 | 775 | 764 | |
3% 6/1/25 | 830 | 827 | |
4% 12/1/28 | 375 | 388 | |
4% 12/1/30 | 575 | 591 | |
4% 12/1/31 | 450 | 462 | |
King County Swr. Rev. Bonds Series 2020 B, 0.875%, tender 1/1/26 (b) | 21,845 | 19,990 | |
Port of Seattle Rev.: | |||
Series 2013, 5% 7/1/24 (c) | 775 | 781 | |
Series 2015 B, 5% 3/1/25 | 450 | 465 | |
Series 2016 B, 5% 10/1/23 (c) | 2,965 | 3,006 | |
Series 2019: | |||
5% 4/1/23 (c) | 1,985 | 1,991 | |
5% 4/1/24 (c) | 3,035 | 3,090 | |
5% 4/1/25 (c) | 2,700 | 2,795 | |
Series 2021 C: | |||
5% 8/1/24 (c) | 5,290 | 5,415 | |
5% 8/1/25 (c) | 2,660 | 2,769 | |
5% 8/1/26 (c) | 3,655 | 3,850 | |
5% 8/1/27 (c) | 2,260 | 2,404 | |
5% 8/1/28 (c) | 6,320 | 6,775 | |
Seattle Hsg. Auth. Rev. (Northgate Plaza Proj.) Series 2021, 1% 6/1/26 | 1,545 | 1,405 | |
Tacoma Elec. Sys. Rev. Series 2017: | |||
5% 1/1/25 | 660 | 689 | |
5% 1/1/26 | 390 | 416 | |
Washington Gen. Oblig. Series 2018 C, 5% 8/1/25 | 2,015 | 2,136 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Virginia Mason Med. Ctr. Proj.) Series 2017: | |||
5% 8/15/25 | 1,450 | 1,496 | |
5% 8/15/26 | 2,560 | 2,673 | |
5% 8/15/27 | 2,425 | 2,559 | |
Bonds Series 2019 B, 5%, tender 8/1/24 (b) | 4,575 | 4,639 | |
Washington Hsg. Fin. Commission Series 2021 2N: | |||
5% 12/1/25 | 915 | 969 | |
5% 6/1/27 | 500 | 542 | |
TOTAL WASHINGTON | 77,927 | ||
West Virginia - 0.2% | |||
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev. Bonds (Appalachian Pwr. Co. Amos Proj.) Series 2011 A, 1%, tender 9/1/25 (b)(c) | 5,650 | 5,202 | |
West Virginia Gen. Oblig. Series 2018 A, 5% 6/1/26 | 1,075 | 1,159 | |
TOTAL WEST VIRGINIA | 6,361 | ||
Wisconsin - 1.1% | |||
Blue Ridge Healthcare Pub. Fin. Auth. Series 2020 A, 5% 1/1/27 | 1,085 | 1,151 | |
Milwaukee County Arpt. Rev. Series 2013 A, 5.25% 12/1/23 (c) | 1,505 | 1,529 | |
Milwaukee Gen. Oblig. Series 2018 N4, 5% 4/1/25 | 7,860 | 8,182 | |
Roseman Univ. of Health Series 2018 A, 5% 12/1/27 | 925 | 949 | |
Wisconsin Gen. Oblig. Series 2014 4, 5% 5/1/25 | 575 | 599 | |
Wisconsin Health & Edl. Facilities Bonds: | |||
Series 2018 B, 5%, tender 1/31/24 (b) | 8,810 | 8,980 | |
Series 2018 C1, 5%, tender 7/29/26 (b) | 1,210 | 1,286 | |
Series 2020 C, 5%, tender 2/15/27 (b) | 5,000 | 5,224 | |
Wisconsin Hsg. & Econ. Dev. Auth.: | |||
Series 2021 A, 3% 3/1/52 | 1,485 | 1,438 | |
Series 2021 C, 3% 9/1/52 | 2,210 | 2,137 | |
Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev. Bonds Series 2021 C: | |||
0.61%, tender 5/1/24 (b) | 400 | 381 | |
0.81%, tender 5/1/25 (b) | 1,335 | 1,258 | |
TOTAL WISCONSIN | 33,114 | ||
Wyoming - 0.0% | |||
Laramie County Hosp. Rev. (Cheyenne Reg'l. Med. Ctr. Proj.) Series 2021, 4% 5/1/27 | 370 | 384 | |
TOTAL MUNICIPAL BONDS (Cost $2,969,012) | 2,841,292 | ||
Money Market Funds - 0.2% | |||
Shares | Value ($) (000s) | ||
Fidelity Municipal Cash Central Fund 3.72% (f)(g) (Cost $3,873) | 3,872,235 | 3,873 | |
TOTAL INVESTMENT IN SECURITIES - 98.8% (Cost $2,972,885) | 2,845,165 |
NET OTHER ASSETS (LIABILITIES) - 1.2% | 35,612 |
NET ASSETS - 100.0% | 2,880,777 |
(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 $23,130,000 or 0.8% of net assets. |
(e) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(f) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 3.72% | 23,947 | 1,112,267 | 1,132,341 | 750 | 2 | (2) | 3,873 | 0.2% |
Total | 23,947 | 1,112,267 | 1,132,341 | 750 | 2 | (2) | 3,873 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 2,841,292 | - | 2,841,292 | - |
Money Market Funds | 3,873 | 3,873 | - | - |
Total Investments in Securities: | 2,845,165 | 3,873 | 2,841,292 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | December 31, 2022 | |||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,969,012) | $2,841,292 | |||
Fidelity Central Funds (cost $3,873) | 3,873 | |||
Total Investment in Securities (cost $2,972,885) | $ | 2,845,165 | ||
Cash | 15,858 | |||
Receivable for fund shares sold | 6,147 | |||
Interest receivable | 32,191 | |||
Distributions receivable from Fidelity Central Funds | 85 | |||
Prepaid expenses | 3 | |||
Receivable from investment adviser for expense reductions | 247 | |||
Other receivables | 1 | |||
Total assets | 2,899,697 | |||
Liabilities | ||||
Payable for investments purchased on a delayed delivery basis | $4,345 | |||
Payable for fund shares redeemed | 12,398 | |||
Distributions payable | 955 | |||
Accrued management fee | 838 | |||
Distribution and service plan fees payable | 41 | |||
Other affiliated payables | 278 | |||
Other payables and accrued expenses | 65 | |||
Total Liabilities | 18,920 | |||
Net Assets | $ | 2,880,777 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 3,021,015 | ||
Total accumulated earnings (loss) | (140,238) | |||
Net Assets | $ | 2,880,777 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($156,293 ÷ 15,379 shares) (a) | $ | 10.16 | ||
Maximum offering price per share (100/97.25 of $10.16) | $ | 10.45 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($8,849 ÷ 872 shares) (a)(b) | $ | 10.14 | ||
Maximum offering price per share (100/97.25 of $10.14) | $ | 10.43 | ||
Class C : | ||||
Net Asset Value and offering price per share ($7,931 ÷ 782 shares) (a) | $ | 10.14 | ||
Limited Term Municipal Income : | ||||
Net Asset Value , offering price and redemption price per share ($2,006,296 ÷ 197,758 shares) | $ | 10.15 | ||
Class I : | ||||
Net Asset Value , offering price and redemption price per share ($343,244 ÷ 33,816 shares) | $ | 10.15 | ||
Class Z : | ||||
Net Asset Value , offering price and redemption price per share ($358,164 ÷ 35,289 shares) | $ | 10.15 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. | ||||
(b)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended December 31, 2022 | |||
Investment Income | ||||
Interest | $ | 52,556 | ||
Income from Fidelity Central Funds | 750 | |||
Total Income | 53,306 | |||
Expenses | ||||
Management fee | $ | 10,799 | ||
Transfer agent fees | 3,052 | |||
Distribution and service plan fees | 564 | |||
Accounting fees and expenses | 535 | |||
Custodian fees and expenses | 31 | |||
Independent trustees' fees and expenses | 10 | |||
Registration fees | 265 | |||
Audit | 63 | |||
Legal | 3 | |||
Miscellaneous | 12 | |||
Total expenses before reductions | 15,334 | |||
Expense reductions | (3,513) | |||
Total expenses after reductions | 11,821 | |||
Net Investment income (loss) | 41,485 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (12,226) | |||
Fidelity Central Funds | 2 | |||
Total net realized gain (loss) | (12,224) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (192,392) | |||
Fidelity Central Funds | (2) | |||
Total change in net unrealized appreciation (depreciation) | (192,394) | |||
Net gain (loss) | (204,618) | |||
Net increase (decrease) in net assets resulting from operations | $ | (163,133) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended December 31, 2022 | Year ended December 31, 2021 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 41,485 | $ | 43,818 |
Net realized gain (loss) | (12,224) | 1,386 | ||
Change in net unrealized appreciation (depreciation) | (192,394) | (34,432) | ||
Net increase (decrease) in net assets resulting from operations | (163,133) | 10,772 | ||
Distributions to shareholders | (41,781) | (45,557) | ||
Share transactions - net increase (decrease) | (583,612) | 384,852 | ||
Total increase (decrease) in net assets | (788,526) | 350,067 | ||
Net Assets | ||||
Beginning of period | 3,669,303 | 3,319,236 | ||
End of period | $ | 2,880,777 | $ | 3,669,303 |
Fidelity Advisor® Limited Term Municipal Income Fund Class A |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.79 | $ | 10.89 | $ | 10.72 | $ | 10.49 | $ | 10.53 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .109 | .102 | .141 | .150 | .135 | |||||
Net realized and unrealized gain (loss) | (.629) | (.094) | .183 | .250 | (.038) | |||||
Total from investment operations | (.520) | .008 | .324 | .400 | .097 | |||||
Distributions from net investment income | (.110) | (.103) | (.142) | (.150) | (.135) | |||||
Distributions from net realized gain | - | (.005) | (.012) | (.020) | (.002) | |||||
Total distributions | (.110) | (.108) | (.154) | (.170) | (.137) | |||||
Net asset value, end of period | $ | 10.16 | $ | 10.79 | $ | 10.89 | $ | 10.72 | $ | 10.49 |
Total Return C,D | (4.82)% | .07% | 3.04% | 3.83% | .93% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .80% | .80% | .80% | .80% | .81% | |||||
Expenses net of fee waivers, if any | .66% | .66% | .66% | .78% | .81% | |||||
Expenses net of all reductions | .66% | .66% | .66% | .78% | .81% | |||||
Net investment income (loss) | 1.06% | .94% | 1.31% | 1.41% | 1.28% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 156 | $ | 223 | $ | 202 | $ | 180 | $ | 155 |
Portfolio turnover rate G | 20% | 20% | 19% | 43% | 27% H |
Fidelity Advisor® Limited Term Municipal Income Fund Class M |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.77 | $ | 10.87 | $ | 10.70 | $ | 10.47 | $ | 10.51 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .110 | .104 | .142 | .154 | .139 | |||||
Net realized and unrealized gain (loss) | (.629) | (.095) | .182 | .250 | (.038) | |||||
Total from investment operations | (.519) | .009 | .324 | .404 | .101 | |||||
Distributions from net investment income | (.111) | (.104) | (.142) | (.154) | (.139) | |||||
Distributions from net realized gain | - | (.005) | (.012) | (.020) | (.002) | |||||
Total distributions | (.111) | (.109) | (.154) | (.174) | (.141) | |||||
Net asset value, end of period | $ | 10.14 | $ | 10.77 | $ | 10.87 | $ | 10.70 | $ | 10.47 |
Total Return C,D | (4.82)% | .08% | 3.06% | 3.88% | .98% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .72% | .72% | .74% | .75% | .76% | |||||
Expenses net of fee waivers, if any | .65% | .65% | .65% | .74% | .76% | |||||
Expenses net of all reductions | .65% | .65% | .65% | .74% | .76% | |||||
Net investment income (loss) | 1.07% | .95% | 1.32% | 1.45% | 1.33% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 9 | $ | 8 | $ | 10 | $ | 12 | $ | 15 |
Portfolio turnover rate G | 20% | 20% | 19% | 43% | 27% H |
Fidelity Advisor® Limited Term Municipal Income Fund Class C |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.77 | $ | 10.87 | $ | 10.70 | $ | 10.47 | $ | 10.51 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .035 | .024 | .064 | .072 | .057 | |||||
Net realized and unrealized gain (loss) | (.629) | (.094) | .182 | .250 | (.038) | |||||
Total from investment operations | (.594) | (.070) | .246 | .322 | .019 | |||||
Distributions from net investment income | (.036) | (.025) | (.064) | (.072) | (.057) | |||||
Distributions from net realized gain | - | (.005) | (.012) | (.020) | (.002) | |||||
Total distributions | (.036) | (.030) | (.076) | (.092) | (.059) | |||||
Net asset value, end of period | $ | 10.14 | $ | 10.77 | $ | 10.87 | $ | 10.70 | $ | 10.47 |
Total Return C,D | (5.51)% | (.65)% | 2.31% | 3.08% | .19% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | 1.50% | 1.51% | 1.52% | 1.54% | 1.55% | |||||
Expenses net of fee waivers, if any | 1.38% | 1.38% | 1.38% | 1.52% | 1.55% | |||||
Expenses net of all reductions | 1.38% | 1.38% | 1.38% | 1.52% | 1.54% | |||||
Net investment income (loss) | .34% | .22% | .59% | .67% | .55% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 8 | $ | 10 | $ | 15 | $ | 20 | $ | 32 |
Portfolio turnover rate G | 20% | 20% | 19% | 43% | 27% H |
Fidelity® Limited Term Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.77 | $ | 10.87 | $ | 10.70 | $ | 10.47 | $ | 10.51 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .139 | .134 | .172 | .185 | .170 | |||||
Net realized and unrealized gain (loss) | (.619) | (.095) | .182 | .250 | (.038) | |||||
Total from investment operations | (.480) | .039 | .354 | .435 | .132 | |||||
Distributions from net investment income | (.140) | (.134) | (.172) | (.185) | (.170) | |||||
Distributions from net realized gain | - | (.005) | (.012) | (.020) | (.002) | |||||
Total distributions | (.140) | (.139) | (.184) | (.205) | (.172) | |||||
Net asset value, end of period | $ | 10.15 | $ | 10.77 | $ | 10.87 | $ | 10.70 | $ | 10.47 |
Total Return C | (4.46)% | .36% | 3.34% | 4.18% | 1.28% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .47% | .46% | .46% | .46% | .46% | |||||
Expenses net of fee waivers, if any | .37% | .37% | .37% | .45% | .46% | |||||
Expenses net of all reductions | .37% | .37% | .37% | .45% | .46% | |||||
Net investment income (loss) | 1.35% | 1.23% | 1.60% | 1.74% | 1.63% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,006 | $ | 2,565 | $ | 2,420 | $ | 2,245 | $ | 2,393 |
Portfolio turnover rate F | 20% | 20% | 19% | 43% | 27% G |
Fidelity Advisor® Limited Term Municipal Income Fund Class I |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.78 | $ | 10.88 | $ | 10.71 | $ | 10.48 | $ | 10.51 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .139 | .133 | .172 | .178 | .162 | |||||
Net realized and unrealized gain (loss) | (.629) | (.094) | .183 | .250 | (.028) | |||||
Total from investment operations | (.490) | .039 | .355 | .428 | .134 | |||||
Distributions from net investment income | (.140) | (.134) | (.173) | (.178) | (.162) | |||||
Distributions from net realized gain | - | (.005) | (.012) | (.020) | (.002) | |||||
Total distributions | (.140) | (.139) | (.185) | (.198) | (.164) | |||||
Net asset value, end of period | $ | 10.15 | $ | 10.78 | $ | 10.88 | $ | 10.71 | $ | 10.48 |
Total Return C | (4.55)% | .36% | 3.34% | 4.11% | 1.29% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .55% | .54% | .55% | .54% | .54% | |||||
Expenses net of fee waivers, if any | .37% | .37% | .37% | .51% | .54% | |||||
Expenses net of all reductions | .37% | .37% | .37% | .51% | .54% | |||||
Net investment income (loss) | 1.35% | 1.23% | 1.60% | 1.68% | 1.55% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 343 | $ | 420 | $ | 335 | $ | 276 | $ | 269 |
Portfolio turnover rate F | 20% | 20% | 19% | 43% | 27% G |
Fidelity Advisor® Limited Term Municipal Income Fund Class Z |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.77 | $ | 10.87 | $ | 10.71 | $ | 10.48 | $ | 10.41 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .145 | .140 | .178 | .189 | .048 | |||||
Net realized and unrealized gain (loss) | (.619) | (.094) | .173 | .250 | .067 | |||||
Total from investment operations | (.474) | .046 | .351 | .439 | .115 | |||||
Distributions from net investment income | (.146) | (.141) | (.179) | (.189) | (.045) | |||||
Distributions from net realized gain | - | (.005) | (.012) | (.020) | - | |||||
Total distributions | (.146) | (.146) | (.191) | (.209) | (.045) | |||||
Net asset value, end of period | $ | 10.15 | $ | 10.77 | $ | 10.87 | $ | 10.71 | $ | 10.48 |
Total Return D,E | (4.40)% | .42% | 3.31% | 4.22% | 1.11% | |||||
Ratios to Average Net Assets C,F,G | ||||||||||
Expenses before reductions | .43% | .42% | .43% | .43% | .43% H | |||||
Expenses net of fee waivers, if any | .31% | .31% | .31% | .40% | .43% H | |||||
Expenses net of all reductions | .31% | .31% | .31% | .40% | .43% H | |||||
Net investment income (loss) | 1.41% | 1.29% | 1.66% | 1.79% | 1.78% H | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 358 | $ | 444 | $ | 336 | $ | 214 | $ | 28 |
Portfolio turnover rate I | 20% | 20% | 19% | 43% | 27% J |
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 | $1,063 |
Gross unrealized depreciation | (128,719) |
Net unrealized appreciation (depreciation) | $(127,656) |
Tax Cost | $2,972,821 |
Capital loss carryforward | $(12,202) |
Net unrealized appreciation (depreciation) on securities and other investments | $(127,656) |
Short-term | $(6,323) |
Long-term | (5,879) |
Total capital loss carryforward | $(12,202) |
December 31, 2022 | December 31, 2021 | |
Tax-exempt Income | $41,781 | $43,829 |
Long-term Capital Gains | - | 1,728 |
Total | $41,781 | $ 45,557 |
Purchases ($) | Sales ($) | |
Fidelity Limited Term Municipal Income Fund | 619,933 | 1,132,925 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $454 | $53 |
Class M | - % | .25% | 19 | - B |
Class C | .75% | .25% | 91 | 13 |
$564 | $66 |
Retained by FDC | |
Class A | $6 |
Class M | 1 |
Class C A | - B |
$7 |
Amount | % of Class-Level Average Net Assets | |
Class A | $320 | .18 |
Class M | 7 | .10 |
Class C | 11 | .12 |
Limited Term Municipal Income | 1,900 | .09 |
Class I | 605 | .17 |
Class Z | 209 | .05 |
$3,052 |
% of Average Net Assets | |
Fidelity Limited Term Municipal Income Fund | .02 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Limited Term Municipal Income Fund | - | 60,706 | 1 |
Amount | |
Fidelity Limited Term Municipal Income Fund | $6 |
Expense Limitations | Reimbursement | |
Class A | .66% | $261 |
Class M | .65% | 5 |
Class C | 1.38% | 11 |
Limited Term Municipal Income | .37% | 2,055 |
Class I | .37% | 631 |
Class Z | .31% | 490 |
$3,453 |
Year ended December 31, 2022 | Year ended December 31, 2021 | |
Fidelity Limited Term Municipal Income Fund | ||
Distributions to shareholders | ||
Class A | $1,933 | $2,205 |
Class M | 82 | 84 |
Class C | 32 | 33 |
Limited Term Municipal Income | 28,885 | 33,020 |
Class I | 4,897 | 5,002 |
Class Z | 5,952 | 5,213 |
Total | $41,781 | $45,557 |
Shares | Shares | Dollars | Dollars | |
Year ended December 31, 2022 | Year ended December 31, 2021 | Year ended December 31, 2022 | Year ended December 31, 2021 | |
Fidelity Limited Term Municipal Income Fund | ||||
Class A | ||||
Shares sold | 6,044 | 8,243 | $61,982 | $89,569 |
Reinvestment of distributions | 180 | 195 | 1,849 | 2,111 |
Shares redeemed | (11,521) | (6,349) | (118,312) | (68,892) |
Net increase (decrease) | (5,297) | 2,089 | $(54,481) | $22,788 |
Class M | ||||
Shares sold | 300 | 115 | $3,052 | $1,245 |
Reinvestment of distributions | 7 | 7 | 76 | 78 |
Shares redeemed | (148) | (295) | (1,516) | (3,195) |
Net increase (decrease) | 159 | (173) | $1,612 | $(1,872) |
Class C | ||||
Shares sold | 403 | 315 | $4,152 | $3,423 |
Reinvestment of distributions | 3 | 3 | 28 | 30 |
Shares redeemed | (515) | (839) | (5,255) | (9,102) |
Net increase (decrease) | (109) | (521) | $(1,075) | $(5,649) |
Limited Term Municipal Income | ||||
Shares sold | 112,135 | 90,381 | $1,145,791 | $980,282 |
Reinvestment of distributions | 2,045 | 2,180 | 20,907 | 23,610 |
Shares redeemed | (154,578) | (77,064) | (1,584,880) | (834,331) |
Net increase (decrease) | (40,398) | 15,497 | $(418,182) | $169,561 |
Class I | ||||
Shares sold | 31,496 | 18,053 | $322,175 | $195,847 |
Reinvestment of distributions | 441 | 428 | 4,514 | 4,637 |
Shares redeemed | (37,086) | (10,350) | (379,632) | (112,152) |
Net increase (decrease) | (5,149) | 8,131 | $(52,943) | $88,332 |
Class Z | ||||
Shares sold | 40,549 | 18,531 | $414,776 | $200,944 |
Reinvestment of distributions | 402 | 356 | 4,114 | 3,852 |
Shares redeemed | (46,884) | (8,593) | (477,433) | (93,104) |
Net increase (decrease) | (5,933) | 10,294 | $(58,543) | $111,692 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Limited Term Municipal Income Fund | ||||||||||
Class A | .66% | |||||||||
Actual | $ 1,000 | $ 998.00 | $ 3.32 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.88 | $ 3.36 | |||||||
Class M | .65% | |||||||||
Actual | $ 1,000 | $ 998.00 | $ 3.27 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.93 | $ 3.31 | |||||||
Class C | 1.38% | |||||||||
Actual | $ 1,000 | $ 994.40 | $ 6.94 | |||||||
Hypothetical- B | $ 1,000 | $ 1,018.25 | $ 7.02 | |||||||
Fidelity® Limited Term Municipal Income Fund | .37% | |||||||||
Actual | $ 1,000 | $ 1,000.40 | $ 1.87 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.34 | $ 1.89 | |||||||
Class I | .37% | |||||||||
Actual | $ 1,000 | $ 1,000.40 | $ 1.87 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.34 | $ 1.89 | |||||||
Class Z | .31% | |||||||||
Actual | $ 1,000 | $ 1,000.70 | $ 1.56 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.64 | $ 1.58 | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity® Conservative Income Municipal Bond Fund | 0.17% | 0.85% | 0.69% |
Institutional Class | 0.27% | 0.95% | 0.79% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Conservative Income Municipal Bond Fund, a class of the fund, on October 15, 2013, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond 1 Year (1-2 Y) Index performed over the same period. |
Top Five States (% of Fund's net assets) | |
Texas | 12.0 |
California | 10.4 |
Illinois | 8.3 |
New York | 7.8 |
Georgia | 5.2 |
Revenue Sources (% of Fund's net assets) | ||
Synthetics | 30.2% | |
Industrial Development | 12.8% | |
General Obligations | 12.6% | |
Resource Recovery | 7.4% | |
State G.O. | 7.2% | |
Transportation | 7.0% | |
Electric Utilities | 6.9% | |
Others* (Individually Less Than 5%) | 15.9% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 44.6 | |
8 - 30 | 4.7 | |
31 - 60 | 11.6 | |
61 - 90 | 0.7 | |
91 - 180 | 6.8 | |
> 180 | 31.6 | |
The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets. |
Municipal Bonds - 47.6% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.9% | |||
Black Belt Energy Gas District: | |||
Bonds Series 2018 A, 4%, tender 12/1/23 (b) | 3,400,000 | 3,403,139 | |
Series 2021 C1, 4% 12/1/23 | 1,400,000 | 1,398,581 | |
Series 2022 C: | |||
5.25% 12/1/23 | 530,000 | 534,881 | |
5.25% 6/1/24 | 145,000 | 147,115 | |
Series 2022 C1: | |||
5.25% 12/1/24 | 405,000 | 413,475 | |
5.25% 12/1/25 | 530,000 | 547,175 | |
5.25% 6/1/26 | 1,225,000 | 1,269,237 | |
Series 2022 E: | |||
5% 6/1/23 | 255,000 | 256,205 | |
5% 6/1/24 | 1,520,000 | 1,546,618 | |
5% 6/1/25 | 1,585,000 | 1,634,497 | |
5% 6/1/26 | 2,185,000 | 2,277,762 | |
Mobile Indl. Dev. Board Poll. Cont. Rev. Bonds (Alabama Pwr. Co. Barry Plant Proj.) Series 2008, 2.9%, tender 12/12/23 (b) | 600,000 | 596,406 | |
Southeast Alabama Gas Supply District Bonds: | |||
(Proj. No. 2) Series 2018 A, 4%, tender 6/1/24 (b) | 7,015,000 | 6,990,415 | |
Series 2018 A, 4%, tender 4/1/24 (b) | 1,185,000 | 1,183,140 | |
Southeast Energy Auth. Rev. Bonds (Proj. No. 2) Series 2021 B1: | |||
4% 6/1/24 | 510,000 | 510,610 | |
4% 6/1/25 | 615,000 | 617,330 | |
TOTAL ALABAMA | 23,326,586 | ||
Alaska - 0.1% | |||
Alaska Int'l. Arpts. Revs. Series 2021 C, 5% 10/1/25 (c) | 1,695,000 | 1,765,867 | |
Arizona - 1.6% | |||
Arizona Health Facilities Auth. Rev. (Scottsdale Lincoln Hospitals Proj.) Series 2014 A, 5% 12/1/24 | 1,000,000 | 1,036,675 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.): | |||
Series 2007, 2.7%, tender 8/14/23 (b)(c) | 2,050,000 | 2,036,540 | |
Series 2019, 5%, tender 6/3/24 (b)(c) | 32,185,000 | 32,698,125 | |
Coconino County Poll. Cont. Corp. Rev. Bonds Series 2017 A, 1.875%, tender 3/31/23 (b)(c) | 1,450,000 | 1,443,650 | |
Maricopa County Rev. Bonds Series C, 5%, tender 10/18/24 (b) | 945,000 | 971,373 | |
Phoenix Civic Impt. Board Arpt. Rev.: | |||
Series 2013, 5% 7/1/23 (c) | 525,000 | 528,488 | |
Series 2017 A, 5% 7/1/23 (c) | 500,000 | 503,322 | |
Yuma Pledged Rev. Series 2021: | |||
4% 7/1/23 | 325,000 | 326,537 | |
4% 7/1/24 | 300,000 | 304,757 | |
TOTAL ARIZONA | 39,849,467 | ||
California - 2.7% | |||
California Muni. Fin. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.): | |||
Series 2021 A, 3.875%, tender 4/3/23 (b)(c) | 7,300,000 | 7,298,447 | |
Series 2021 B, 2.35%, tender 1/17/23 (b)(c) | 22,300,000 | 22,287,233 | |
(Waste Mgmt., Inc. Proj.): | |||
Series 2009 A, 1.3%, tender 2/3/25 (b)(d) | 750,000 | 706,664 | |
Series 2020, 3.5%, tender 3/1/23 (b)(c) | 600,000 | 599,450 | |
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.): | |||
Series 2010 A, 4.1%, tender 2/1/23 (b)(c)(d) | 4,600,000 | 4,600,356 | |
Series 2017 A2, 3.875%, tender 1/17/23 (b)(c)(d) | 6,600,000 | 6,599,796 | |
California Pub. Works Board Lease Rev. (Various Cap. Projs.) Series 2022 C, 5% 8/1/24 | 1,925,000 | 1,994,232 | |
California Statewide Cmntys. Dev. Auth. Series 2021, 4% 5/15/23 | 2,500,000 | 2,506,183 | |
Los Angeles Dept. Arpt. Rev.: | |||
Series 2017 B, 5% 5/15/23 (c) | 1,700,000 | 1,709,671 | |
Series 2019 A: | |||
5% 5/15/23 (c) | 1,865,000 | 1,875,610 | |
5% 5/15/24 (c) | 705,000 | 721,521 | |
Series 2020 C, 5% 5/15/24 (c) | 500,000 | 511,717 | |
Series 2022 C: | |||
5% 5/15/25 (c) | 1,475,000 | 1,529,957 | |
5% 5/15/26 (c) | 3,595,000 | 3,775,959 | |
Series B, 5% 5/15/24 (c) | 1,065,000 | 1,089,957 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Series 2019 B: | |||
5% 7/1/23 (c) | 500,000 | 503,322 | |
5% 7/1/24 (c) | 500,000 | 511,129 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
Series 2013 A, 5% 5/1/23 (Escrowed to Maturity) (c) | 1,310,000 | 1,318,317 | |
Series 2017 D, 5% 5/1/24 (c) | 1,000,000 | 1,020,725 | |
Series 2019 H, 5% 5/1/24 (Escrowed to Maturity) (c) | 550,000 | 563,847 | |
San Jose Int. Arpt. Rev.: | |||
Series 2014 A, 5% 3/1/23 (Escrowed to Maturity) (c) | 3,500,000 | 3,510,866 | |
Series 2021 B, 5% 3/1/25 | 375,000 | 393,187 | |
Vernon Elec. Sys. Rev. Series 2021 A, 5% 10/1/23 | 1,350,000 | 1,360,426 | |
TOTAL CALIFORNIA | 66,988,572 | ||
Colorado - 0.5% | |||
Colorado Health Facilities Auth. Rev. Bonds: | |||
Bonds Series 2016 C: | |||
5%, tender 11/15/23 (b) | 440,000 | 446,153 | |
5%, tender 11/15/23 (b) | 155,000 | 157,473 | |
Series 2022 A: | |||
5% 11/1/23 | 400,000 | 405,054 | |
5% 11/1/24 | 430,000 | 443,206 | |
5% 11/1/25 | 400,000 | 417,607 | |
Colorado Univ. Co. Hosp. Auth. Rev. Bonds Series 2019 C, 5%, tender 11/15/24 (b) | 700,000 | 717,442 | |
Denver City & County Arpt. Rev.: | |||
Series 2012 A, 5% 11/15/23 (c) | 500,000 | 500,525 | |
Series 2016 A, 5% 11/15/23 | 675,000 | 686,871 | |
Series 2017 A, 5% 11/15/24 (c) | 825,000 | 850,217 | |
Series 2022 A: | |||
5% 11/15/24 (c) | 1,000,000 | 1,030,566 | |
5% 11/15/25 (c) | 1,850,000 | 1,934,731 | |
Series 2022 D: | |||
5% 11/15/25 (c) | 2,000,000 | 2,091,601 | |
5.25% 11/15/26 (c) | 3,500,000 | 3,731,761 | |
Vauxmont Metropolitan District Series 2020, 5% 12/1/23 (Assured Guaranty Muni. Corp. Insured) | 195,000 | 198,092 | |
TOTAL COLORADO | 13,611,299 | ||
Connecticut - 2.4% | |||
Connecticut Gen. Oblig.: | |||
Series 2013 A, 4.65% 3/1/25 (b) | 1,075,000 | 1,086,875 | |
Series 2016 B: | |||
5% 5/15/23 | 1,470,000 | 1,480,774 | |
5% 5/15/25 | 505,000 | 531,817 | |
Series 2016 D, 5% 8/15/23 | 600,000 | 607,582 | |
Series 2016 E, 5% 10/15/23 | 1,210,000 | 1,229,594 | |
Series 2019 A, 5% 4/15/23 | 3,985,000 | 4,007,279 | |
Series 2020 B, 5% 1/15/23 | 1,265,000 | 1,265,729 | |
Series 2021 D, 5% 7/15/24 | 1,760,000 | 1,818,961 | |
Series 2022 A, 3% 1/15/23 | 6,705,000 | 6,704,751 | |
Series A: | |||
3% 1/15/23 | 1,050,000 | 1,049,961 | |
3% 1/15/24 | 500,000 | 500,842 | |
3% 4/15/24 | 500,000 | 501,296 | |
4% 1/15/24 | 465,000 | 470,473 | |
Series C: | |||
4% 6/1/23 | 400,000 | 401,698 | |
5% 12/15/23 | 735,000 | 749,649 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
Bonds: | |||
Series 1999 U2, 1.1%, tender 2/11/25 (b) | 3,600,000 | 3,404,292 | |
Series 2010 A3, 0.25%, tender 2/9/24 (b) | 11,800,000 | 11,339,183 | |
Series 2010 A4, 1.1%, tender 2/11/25 (b) | 9,050,000 | 8,558,011 | |
Series 2014 B, 1.8%, tender 7/1/24 (b) | 980,000 | 948,447 | |
Series 2022 L, 5% 7/1/25 | 450,000 | 471,601 | |
Series 2022 M, 5% 7/1/23 | 175,000 | 176,035 | |
Connecticut Higher Ed. Supplemental Ln. Auth. Rev.: | |||
(Chesla Ln. Prog.) Series 2017 A, 5% 11/15/23 (Escrowed to Maturity) (c) | 690,000 | 699,543 | |
(Chesla Loan Prog.) Series C, 5% 11/15/23 (Escrowed to Maturity) | 225,000 | 229,077 | |
Connecticut Hsg. Fin. Auth.: | |||
Series A2: | |||
0.35% 5/15/23 (c) | 250,000 | 247,530 | |
0.4% 11/15/23 (c) | 300,000 | 293,248 | |
Series C, 5% 5/15/23 (c) | 445,000 | 447,451 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2021 C: | |||
5% 1/1/23 | 4,925,000 | 4,925,000 | |
5% 1/1/24 | 1,340,000 | 1,368,511 | |
Series A, 5% 5/1/23 | 1,850,000 | 1,862,230 | |
Hartford Gen. Oblig. Series 2015 C, 5% 7/15/25 (Assured Guaranty Muni. Corp. Insured) | 1,910,000 | 2,016,092 | |
TOTAL CONNECTICUT | 59,393,532 | ||
Delaware - 0.1% | |||
Delaware Econ. Dev. Auth. Rev. Bonds (Delmarva Pwr. & Lt. Co. Proj.) Series A, 1.05%, tender 7/1/25 (b) | 580,000 | 549,076 | |
Delaware Trans. Auth. Grant Series 2020, 5% 9/1/24 | 850,000 | 879,950 | |
TOTAL DELAWARE | 1,429,026 | ||
District Of Columbia - 0.6% | |||
District of Columbia Gen. Oblig.: | |||
Series 2021 D, 4% 2/1/24 | 325,000 | 329,216 | |
Series 2021 E, 5% 2/1/23 | 5,000,000 | 5,007,514 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev. Series 2020 A: | |||
5% 10/1/23 (c) | 1,910,000 | 1,929,504 | |
5% 10/1/24 (c) | 7,200,000 | 7,391,085 | |
TOTAL DISTRICT OF COLUMBIA | 14,657,319 | ||
Florida - 2.0% | |||
Broward County Arpt. Sys. Rev.: | |||
Series 2017, 5% 10/1/24 (c) | 500,000 | 513,697 | |
Series 2019 A, 5% 10/1/23 (c) | 1,250,000 | 1,263,223 | |
Duval County School Board Ctfs. of Prtn. Series 2022 A: | |||
5% 7/1/25 (Assured Guaranty Muni. Corp. Insured) | 2,795,000 | 2,939,476 | |
5% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 4,900,000 | 5,253,994 | |
Escambia County Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2003, 2.6% 6/1/23 | 5,150,000 | 5,129,702 | |
Florida Dev. Fin. Corp. Rev. Bonds (Brightline Florida Passenger Rail Expansion Proj.) Series 2021 A, 2.9%, tender 4/4/23 (b)(c) | 11,000,000 | 10,968,617 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Series 2016 A, 5% 10/1/25 (Escrowed to Maturity) (c) | 575,000 | 605,673 | |
Hillsborough Co. Sldwst and Resource Receivables Series 2016 A, 5% 9/1/26 (c) | 2,260,000 | 2,385,369 | |
Hillsborough County Aviation Auth. Rev.: | |||
Series 2013 A, 5.5% 10/1/24 (Pre-Refunded to 10/1/23 @ 100) (c) | 1,420,000 | 1,446,144 | |
Series 2018 E, 5% 10/1/23 (c) | 225,000 | 227,793 | |
Series 2022 A: | |||
5% 10/1/24 (c) | 2,800,000 | 2,888,702 | |
5% 10/1/25 (c) | 755,000 | 787,976 | |
Jacksonville Spl. Rev. Series 2022 A: | |||
5% 10/1/23 | 260,000 | 263,957 | |
5% 10/1/24 | 580,000 | 602,178 | |
5% 10/1/25 | 455,000 | 481,985 | |
JEA Wtr. & Swr. Sys. Rev. Series A, 5% 10/1/23 | 895,000 | 908,290 | |
Lee County Arpt. Rev. Series 2021 A: | |||
5% 10/1/23 (c) | 3,030,000 | 3,055,394 | |
5% 10/1/24 (c) | 1,530,000 | 1,562,533 | |
Miami-Dade County Aviation Rev.: | |||
Series 2012 A, 5% 10/1/24 | 895,000 | 896,371 | |
Series 2020 A, 5% 10/1/23 | 1,105,000 | 1,121,163 | |
Miami-Dade County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. of Florida Proj.) Series 2018, 0.4%, tender 8/1/23 (b)(c) | 2,400,000 | 2,342,638 | |
Okeechobee County Solid Waste Rev. Bonds (Waste Mgmt., Inc.-Okeechobee Landfill Proj.) Series 2004 A, 0.55%, tender 7/1/24 (b) | 1,500,000 | 1,410,710 | |
Orlando Utils. Commission Util. Sys. Rev. Series 2013 A, 5% 10/1/24 | 500,000 | 519,119 | |
Pasco County School Board Ctfs. of Prtn. Series 2022 A, 5% 8/1/26 | 1,045,000 | 1,119,962 | |
TOTAL FLORIDA | 48,694,666 | ||
Georgia - 4.2% | |||
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.) Series 2009 1st, 2.75%, tender 3/15/23 (b) | 12,025,000 | 12,001,376 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Bonds: | |||
(Georgia Pwr. Co. Plant Vogtle Proj.): | |||
Series 1994, 2.25%, tender 5/25/23 (b) | 1,300,000 | 1,292,729 | |
Series 2012, 2.875%, tender 8/19/25 (b) | 3,575,000 | 3,527,575 | |
Series 1995, 2.25%, tender 5/25/23 (b) | 2,300,000 | 2,284,925 | |
Georgia Muni. Elec. Auth. Pwr. Rev.: | |||
Series 2020 A: | |||
4% 11/1/23 | 895,000 | 899,461 | |
5% 1/1/23 | 2,775,000 | 2,775,000 | |
5% 1/1/23 | 1,250,000 | 1,250,000 | |
Series 2021 A: | |||
5% 1/1/24 | 335,000 | 340,382 | |
5% 1/1/25 (Assured Guaranty Muni. Corp. Insured) | 200,000 | 206,998 | |
Series 2022 A: | |||
5% 7/1/24 (Assured Guaranty Muni. Corp. Insured) | 335,000 | 343,439 | |
5% 7/1/25 (Assured Guaranty Muni. Corp. Insured) | 350,000 | 365,515 | |
5% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 365,000 | 387,744 | |
Griffin-Spalding County Hosp. (WellStar Health Sys., Inc. Proj.) Series 2017 A, 5% 4/1/23 | 250,000 | 250,923 | |
Main Street Natural Gas, Inc.: | |||
Bonds: | |||
Series 2018 A, 4%, tender 9/1/23 (b) | 6,305,000 | 6,303,011 | |
Series 2018 B, 1 month U.S. LIBOR + 0.750% 3.51%, tender 1/4/23 (b)(e) | 25,095,000 | 24,983,566 | |
Series 2018 C, 4%, tender 12/1/23 (b) | 2,490,000 | 2,488,116 | |
Series 2018 E, SIFMA Municipal Swap Index + 0.570% 4.23%, tender 1/5/23 (b)(e) | 40,430,000 | 40,293,929 | |
Series 2019 B, 4%, tender 12/2/24 (b) | 2,030,000 | 2,030,062 | |
Series 2018 A, 4% 3/1/23 | 720,000 | 720,134 | |
Series 2022 A, 4% 12/1/25 | 1,260,000 | 1,262,844 | |
Paulding County Hosp. Auth. Rev. Series 2022 A, 5% 4/1/23 | 565,000 | 566,949 | |
TOTAL GEORGIA | 104,574,678 | ||
Guam - 0.2% | |||
Guam Pwr. Auth. Rev. Series 2022 A: | |||
5% 10/1/23 | 1,545,000 | 1,559,192 | |
5% 10/1/24 | 1,235,000 | 1,263,778 | |
5% 10/1/25 | 1,545,000 | 1,602,615 | |
TOTAL GUAM | 4,425,585 | ||
Hawaii - 0.0% | |||
State of Hawaii Dept. of Trans. Series 2013, 5% 8/1/23 (c) | 1,250,000 | 1,261,828 | |
Illinois - 4.3% | |||
Champaign County Cmnty. Unit Series 2020 A, 0% 1/1/23 | 200,000 | 200,000 | |
Chicago Metropolitan Wtr. Reclamation District of Greater Chicago Series 2021 C, 5% 12/1/23 | 3,880,000 | 3,948,167 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2013 A, 5% 1/1/23 (c) | 4,535,000 | 4,535,000 | |
Series 2022 A, 5% 1/1/25 (c) | 1,095,000 | 1,126,906 | |
Series 2022 C: | |||
5% 1/1/25 (c) | 2,250,000 | 2,315,559 | |
5% 1/1/26 (c) | 1,200,000 | 1,249,657 | |
Chicago Park District Gen. Oblig.: | |||
Series 2014 B, 5% 1/1/24 | 615,000 | 625,484 | |
Series 2021 D: | |||
4% 1/1/23 | 375,000 | 375,000 | |
4% 1/1/24 | 100,000 | 100,736 | |
Series 2021 E, 4% 1/1/24 | 1,340,000 | 1,349,869 | |
Chicago Transit Auth. Cap. Grant Receipts Rev. Series 2021: | |||
5% 6/1/23 | 550,000 | 553,651 | |
5% 6/1/24 | 625,000 | 640,616 | |
Cook County Gen. Oblig.: | |||
Series 2021 A: | |||
5% 11/15/23 | 390,000 | 395,320 | |
5% 11/15/24 | 450,000 | 464,497 | |
Series 2021 B, 4% 11/15/23 | 1,560,000 | 1,568,122 | |
Series 2022 A: | |||
5% 11/15/24 | 5,940,000 | 6,131,355 | |
5% 11/15/25 | 4,370,000 | 4,605,637 | |
Cook County Sales Tax Rev. Series 2022 A, 5% 11/15/25 | 675,000 | 713,871 | |
Illinois Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2019, 4.4%, tender 11/1/23 (b)(c) | 9,750,000 | 9,777,124 | |
Illinois Fin. Auth. Series 2022 A, 5% 10/1/24 | 160,000 | 161,838 | |
Illinois Gen. Oblig.: | |||
Series 2013 A, 5% 4/1/24 | 1,705,000 | 1,712,264 | |
Series 2013, 5% 7/1/23 | 3,265,000 | 3,286,345 | |
Series 2017 D, 5% 11/1/23 | 5,300,000 | 5,354,988 | |
Series 2021 A, 5% 3/1/23 | 230,000 | 230,490 | |
Series 2021 B, 5% 3/1/23 | 275,000 | 275,586 | |
Series 2021 C, 4% 3/1/23 | 6,960,000 | 6,964,010 | |
Series 2022 A: | |||
5% 3/1/23 | 1,060,000 | 1,062,259 | |
5% 3/1/25 | 2,070,000 | 2,113,577 | |
Series 2022 B: | |||
5% 3/1/24 | 4,105,000 | 4,161,965 | |
5% 3/1/25 | 10,270,000 | 10,486,202 | |
5% 3/1/26 | 6,060,000 | 6,224,224 | |
Series 2022 D1, 5% 3/1/23 | 1,210,000 | 1,212,579 | |
Illinois Muni. Elec. Agcy. Pwr. Supply Series 2015 A, 5% 2/1/23 | 280,000 | 280,331 | |
Illinois Reg'l. Trans. Auth. Series 2017 A, 5% 7/1/23 | 595,000 | 600,491 | |
Illinois Sales Tax Rev.: | |||
Series 2021 A: | |||
4% 6/15/23 | 6,065,000 | 6,079,188 | |
4% 6/15/24 | 3,195,000 | 3,212,212 | |
Series 2021 C, 5% 6/15/25 | 270,000 | 278,046 | |
Kendall, Kane & Will Counties Cmnty. Unit School District #308 Series 2011, 5.5% 2/1/23 | 1,470,000 | 1,472,459 | |
Metropolitan Pier & Exposition: | |||
Series 2010 B1, 0% 6/15/26 (Assured Guaranty Muni. Corp. Insured) | 1,130,000 | 998,787 | |
Series 2022 A, 3% 6/15/24 | 1,870,000 | 1,853,807 | |
Railsplitter Tobacco Settlement Auth. Rev. Series 2017, 5% 6/1/23 | 6,220,000 | 6,265,597 | |
Univ. of Illinois Board of Trustees Ctfs. of Prtn. Series 2014 C, 5% 3/15/23 | 630,000 | 631,946 | |
Univ. of Illinois Rev. Series 2013 A, 5% 4/1/25 | 250,000 | 250,923 | |
TOTAL ILLINOIS | 105,846,685 | ||
Indiana - 1.7% | |||
Indiana Dev. Fin. Auth. Envir. Rev. Bonds (Fulcrum Centerpoint, LLC Proj.) Series 2022, 4.5%, tender 11/15/23 (c) | 26,350,000 | 26,333,342 | |
Indiana Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2001, 4%, tender 10/2/23 (b)(c) | 2,500,000 | 2,504,715 | |
Indianapolis Local Pub. Impt.: | |||
(Indianapolis Arpt. Auth. Proj.): | |||
Series 2015 I, 5% 1/1/23 (c) | 1,660,000 | 1,660,000 | |
Series 2016 A1, 5% 1/1/23 (c) | 1,500,000 | 1,500,000 | |
Series 2021 A, 5% 6/1/23 | 610,000 | 614,173 | |
Series 2022 G2: | |||
5% 1/1/25 (c) | 85,000 | 87,526 | |
5% 1/1/26 (c) | 405,000 | 423,282 | |
Whiting Envir. Facilities Rev. Bonds (BP Products North America, Inc. Proj.): | |||
Series 2016 A, 5%, tender 3/1/23 (b)(c) | 8,700,000 | 8,711,359 | |
Series 2017, 5%, tender 11/1/24 (b)(c) | 965,000 | 978,370 | |
TOTAL INDIANA | 42,812,767 | ||
Iowa - 0.0% | |||
Iowa Fin. Auth. Rev. Series 2018 B, 5% 2/15/23 | 515,000 | 516,073 | |
Kentucky - 0.7% | |||
Kentucky Asset/Liability Commission Gen. Fund Rev. Series 2021 A, 5% 11/1/24 | 1,000,000 | 1,039,010 | |
Kentucky State Property & Buildings Commission Rev.: | |||
Series 2016 B, 5% 11/1/23 | 1,445,000 | 1,469,058 | |
Series 2017, 5% 4/1/23 | 1,390,000 | 1,396,455 | |
Series 2018, 5% 5/1/23 | 3,545,000 | 3,567,392 | |
Series A: | |||
5% 8/1/23 | 625,000 | 632,165 | |
5% 11/1/23 | 1,030,000 | 1,047,148 | |
Series B, 5% 8/1/23 | 4,100,000 | 4,147,000 | |
Kentucky, Inc. Pub. Energy Bonds: | |||
Series 2018 A, 4%, tender 4/1/24 (b) | 3,845,000 | 3,838,247 | |
Series C1, 4%, tender 6/1/25 (b) | 585,000 | 579,601 | |
Louisville & Jefferson County Bonds Series 2020 B, 5%, tender 10/1/23 (b) | 1,000,000 | 1,006,993 | |
TOTAL KENTUCKY | 18,723,069 | ||
Louisiana - 0.5% | |||
Louisiana Gen. Oblig. Series 2020 A, 5% 3/1/23 | 835,000 | 837,659 | |
St. John Baptist Parish Rev. Bonds (Marathon Oil Corp.) Series 2017, 2%, tender 4/1/23 (b) | 8,040,000 | 7,990,349 | |
Tobacco Settlement Fing. Corp. Series 2013 A, 5% 5/15/23 | 2,700,000 | 2,718,720 | |
TOTAL LOUISIANA | 11,546,728 | ||
Maryland - 0.2% | |||
Maryland Dept. of Trans.: | |||
Series 2022 A, 5% 12/1/24 | 550,000 | 574,025 | |
Series 2022 B, 5% 12/1/23 | 635,000 | 647,361 | |
Maryland Gen. Oblig. Series 2 A, 5% 8/1/23 | 1,130,000 | 1,143,666 | |
Maryland Stadium Auth. Built to Learn Rev. Series 2022 A: | |||
5% 6/1/24 | 730,000 | 750,479 | |
5% 6/1/25 | 905,000 | 950,116 | |
TOTAL MARYLAND | 4,065,647 | ||
Massachusetts - 2.7% | |||
Massachusetts Dept. of Trans. Metropolitan Hwy. Sys. Rev. Bonds Series 2019 A, 5%, tender 1/1/23 (b) | 3,200,000 | 3,200,000 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
Bonds: | |||
Series 2019 DD 1, 5%, tender 4/1/24 (b) | 1,070,000 | 1,085,493 | |
Series 2019 DD 2, 5%, tender 4/1/24 (b) | 2,295,000 | 2,328,230 | |
Series S3, SIFMA Municipal Swap Index + 0.500% 4.16%, tender 1/5/23 (b)(e) | 7,400,000 | 7,397,813 | |
Series 2016 I, 5% 7/1/25 | 1,150,000 | 1,199,573 | |
Series 2021 I, 5% 10/1/24 | 900,000 | 928,357 | |
Massachusetts Edl. Fing. Auth. Rev.: | |||
Series 2015 A, 5% 1/1/24 (c) | 18,160,000 | 18,416,247 | |
Series 2017 A, 5% 7/1/25 (c) | 1,430,000 | 1,479,838 | |
Series 2018 B, 5% 7/1/23 (c) | 450,000 | 453,801 | |
Series 2020 C, 5% 7/1/24 (c) | 600,000 | 612,040 | |
Series 2022 B: | |||
5% 7/1/24 (c) | 525,000 | 536,302 | |
5% 7/1/25 (c) | 1,125,000 | 1,165,840 | |
Massachusetts Gen. Oblig. Series 2021 B, 5% 11/1/23 | 24,925,000 | 25,362,511 | |
Massachusetts Port Auth. Rev. Series 2017 A, 5% 7/1/23 (c) | 2,660,000 | 2,684,028 | |
TOTAL MASSACHUSETTS | 66,850,073 | ||
Michigan - 0.9% | |||
Imlay City Cmnty. School District Series 2020 I, 4% 5/1/23 | 555,000 | 556,566 | |
Michigan Fin. Auth. Rev.: | |||
(Detroit Reg'l. Convention Facility Auth. Local Proj.) Series 2014 H1, 5% 10/1/24 | 1,895,000 | 1,923,706 | |
Series 2015 D1: | |||
0.4% 10/15/23 | 450,000 | 433,229 | |
0.55% 10/15/24 | 1,700,000 | 1,620,422 | |
Series 2022: | |||
5% 4/15/25 | 2,840,000 | 2,971,744 | |
5% 4/15/26 | 4,735,000 | 5,049,658 | |
Michigan Gen. Oblig. Series 2016, 5% 3/15/24 | 500,000 | 513,113 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Series 2022 A: | |||
1.95% 12/1/23 | 975,000 | 963,636 | |
2.5% 6/1/25 | 1,215,000 | 1,195,624 | |
Oakland Univ. Rev.: | |||
Series 2022 A: | |||
5% 3/1/23 | 345,000 | 345,960 | |
5% 3/1/24 | 175,000 | 178,926 | |
5% 3/1/25 | 200,000 | 208,886 | |
Series 2022 B: | |||
5% 3/1/24 | 350,000 | 357,851 | |
5% 3/1/25 | 1,185,000 | 1,237,647 | |
South Lyon Cmnty. Schools Series 2016, 5% 5/1/23 | 900,000 | 905,567 | |
Walled Lake Consolidated School District Series 2022, 4% 5/1/23 | 1,670,000 | 1,675,256 | |
Wayne County Arpt. Auth. Rev. Series 2017 E, 4% 12/1/25 (c)(d) | 1,725,000 | 1,744,034 | |
TOTAL MICHIGAN | 21,881,825 | ||
Minnesota - 0.4% | |||
Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev.: | |||
Series 2016 B, 5% 1/1/23 | 1,400,000 | 1,400,000 | |
Series 2022 B: | |||
5% 1/1/24 (c) | 565,000 | 572,972 | |
5% 1/1/25 (c) | 370,000 | 380,781 | |
5% 1/1/26 (c) | 905,000 | 942,450 | |
Minnesota Hsg. Fin. Agcy.: | |||
Series 2022 A: | |||
5% 8/1/23 | 585,000 | 591,773 | |
5% 8/1/24 | 910,000 | 940,018 | |
Series 2022 B: | |||
5% 8/1/24 | 1,155,000 | 1,193,100 | |
5% 8/1/25 | 1,710,000 | 1,803,653 | |
5% 8/1/26 | 1,700,000 | 1,826,739 | |
Series H: | |||
0.6% 7/1/23 (c) | 225,000 | 221,768 | |
0.7% 7/1/24 (c) | 200,000 | 191,913 | |
TOTAL MINNESOTA | 10,065,167 | ||
Nebraska - 0.4% | |||
Central Plains Energy Proj. Gas Supply: | |||
Bonds Series 2019, 2.5%, tender 8/1/25 (b) | 3,400,000 | 3,263,730 | |
Series 2019: | |||
4% 2/1/23 | 1,060,000 | 1,060,051 | |
4% 8/1/23 | 1,170,000 | 1,171,156 | |
Douglas County Neb Edl. Facilities Rev. (Creighton Univ. Projs.) Series 2017, 5% 7/1/23 | 825,000 | 832,493 | |
Nebraska Pub. Pwr. District Rev.: | |||
Bonds Series 2020 A, 0.6%, tender 7/1/23 (b) | 1,950,000 | 1,923,008 | |
Series 2017 B, 5% 1/1/25 | 650,000 | 678,760 | |
TOTAL NEBRASKA | 8,929,198 | ||
Nevada - 0.7% | |||
Clark County Arpt. Rev. Series 2021 B, 5% 7/1/24 (c) | 1,870,000 | 1,910,530 | |
Clark County Poll. Cont. Rev. Bonds Series 2017, 1.65%, tender 3/31/23 (b) | 1,570,000 | 1,562,625 | |
Clark County School District: | |||
Series 2016 D, 5% 6/15/23 | 2,715,000 | 2,738,382 | |
Series 2016 F, 4% 6/15/24 | 500,000 | 500,389 | |
Series 2020 A, 3% 6/15/25 (Assured Guaranty Muni. Corp. Insured) | 500,000 | 503,045 | |
Nevada Dept. of Bus. & Industry Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2001, 3.75%, tender 6/1/23 (b)(c)(d) | 3,350,000 | 3,343,146 | |
Series 2020 A, 0.85%, tender 1/26/23 (b)(c)(d) | 7,100,000 | 7,086,302 | |
TOTAL NEVADA | 17,644,419 | ||
New Hampshire - 0.2% | |||
Nat'l. Fin. Auth. Hosp. Rev. (St. Luke's Univ. Health Network Proj.) Series 2021 B, 5% 8/15/23 | 405,000 | 409,005 | |
Nat'l. Fin. Auth. Solid Bonds (Waste Mgmt., Inc. Proj.) Series 2019 A2, 2.15%, tender 7/1/24 (b)(c) | 4,000,000 | 3,853,028 | |
TOTAL NEW HAMPSHIRE | 4,262,033 | ||
New Jersey - 4.2% | |||
New Jersey Econ. Dev. Auth. Series 2022 A: | |||
5% 11/1/24 | 825,000 | 851,968 | |
5% 11/1/25 | 1,000,000 | 1,048,700 | |
New Jersey Econ. Dev. Auth. Rev.: | |||
Series 2012 II, 5% 3/1/23 | 1,535,000 | 1,539,717 | |
Series 2013: | |||
5% 3/1/23 | 1,290,000 | 1,293,093 | |
5% 3/1/24 | 15,560,000 | 15,601,499 | |
5% 3/1/25 | 6,910,000 | 6,929,101 | |
Series 2014 UU, 5% 6/15/23 | 675,000 | 679,821 | |
Series 2015 XX: | |||
4% 6/15/24 | 1,345,000 | 1,360,025 | |
5% 6/15/23 | 825,000 | 830,892 | |
5% 6/15/24 | 500,000 | 512,600 | |
Series 2016 AAA, 5% 6/15/23 | 625,000 | 629,464 | |
Series 2018 FFF, 5% 6/15/23 | 500,000 | 503,571 | |
Series 2019, 5.25% 9/1/24 (d) | 9,740,000 | 10,064,642 | |
New Jersey Edl. Facility Series 2016 C, 5% 7/1/24 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,028,431 | |
New Jersey Gen. Oblig.: | |||
Series 2020 A: | |||
4% 6/1/23 | 11,190,000 | 11,233,415 | |
5% 6/1/24 | 1,080,000 | 1,111,656 | |
5% 6/1/25 | 4,700,000 | 4,948,893 | |
Series 2021, 2% 6/1/25 | 1,585,000 | 1,536,672 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | |||
Series 2016 1A: | |||
5% 12/1/23 (c) | 3,500,000 | 3,547,635 | |
5% 12/1/24 (c) | 4,400,000 | 4,531,630 | |
Series 2017 1A: | |||
5% 12/1/24 (c) | 1,500,000 | 1,543,193 | |
5% 12/1/25 (c) | 2,860,000 | 2,989,161 | |
Series 2019 A, 5% 12/1/24 | 555,000 | 575,041 | |
Series 2020, 5% 12/1/24 (c) | 1,100,000 | 1,131,264 | |
Series 2021 A, 5% 12/1/24 (c) | 330,000 | 339,379 | |
Series 2022 A: | |||
5% 12/1/24 (c) | 430,000 | 442,221 | |
5% 12/1/25 (c) | 550,000 | 572,514 | |
Series 2022 B: | |||
5% 12/1/24 (c) | 885,000 | 910,153 | |
5% 12/1/25 (c) | 2,625,000 | 2,730,241 | |
New Jersey Hsg. & Mtg. Fin. Agcy. Multi-family Rev. Series 2021 B, 0.5% 11/1/23 | 1,815,000 | 1,774,287 | |
New Jersey Tobacco Settlement Fing. Corp. Series 2018 A: | |||
5% 6/1/23 | 4,960,000 | 4,985,534 | |
5% 6/1/24 | 2,400,000 | 2,440,323 | |
5% 6/1/25 | 1,565,000 | 1,605,961 | |
New Jersey Trans. Trust Fund Auth.: | |||
Series 2006 C, 0% 12/15/24 (AMBAC Insured) | 160,000 | 149,891 | |
Series 2010 A, 0% 12/15/25 | 1,050,000 | 945,379 | |
Series 2010 D, 5.25% 12/15/23 | 820,000 | 834,848 | |
Series 2014 AA, 5% 6/15/23 | 2,850,000 | 2,870,355 | |
Series 2016 A1, 5% 6/15/24 | 975,000 | 1,000,824 | |
Series 2016 A2, 5% 6/15/23 | 1,000,000 | 1,007,543 | |
Series 2018 A: | |||
5% 6/15/23 | 3,240,000 | 3,264,438 | |
5% 6/15/24 | 1,205,000 | 1,236,916 | |
Series 2022 AA, 5% 6/15/24 | 1,090,000 | 1,117,468 | |
Series A, 5.25% 12/15/23 | 350,000 | 356,337 | |
Rutgers State Univ. Rev. Series 2018 N, 4% 5/1/23 | 700,000 | 702,181 | |
TOTAL NEW JERSEY | 105,308,877 | ||
New Mexico - 0.1% | |||
New Mexico Edl. Assistance Foundation Series 2021 1A, 5% 9/1/23 (c) | 2,040,000 | 2,058,784 | |
New York - 1.7% | |||
Long Island Pwr. Auth. Elec. Sys. Rev.: | |||
Bonds Series 2019 B, 1.65%, tender 9/1/24 (b) | 2,550,000 | 2,464,704 | |
Series 2021, 1% 9/1/25 | 2,195,000 | 1,998,235 | |
Nassau County Local Econ. Assistance Corp. Multifamily Hsg. Rev. Bonds (Park Lake Hempstead, L.P. Proj.) Series 2021, 0.3%, tender 11/1/23 (b) | 7,810,000 | 7,545,532 | |
New York City Gen. Oblig.: | |||
Series 1, 5% 8/1/23 | 5,060,000 | 5,118,295 | |
Series 2013 D, 5% 8/1/23 | 475,000 | 475,732 | |
Series 2015 B, 5% 8/1/23 | 430,000 | 434,954 | |
Series 2019 E, 5% 8/1/23 | 685,000 | 692,892 | |
Series 2021 F1: | |||
3% 3/1/23 | 300,000 | 300,010 | |
5% 3/1/23 | 545,000 | 546,718 | |
Series A, 5% 8/1/23 | 2,155,000 | 2,179,827 | |
New York City Hsg. Dev. Corp. Multifamily Hsg. Bonds Series 2021 K2, 0.9%, tender 1/1/26 (b) | 1,250,000 | 1,142,411 | |
New York City Indl. Dev. Agcy. Rev.: | |||
(Queens Baseball Stadium Proj.) Series 2021 A, 5% 1/1/24 (Assured Guaranty Corp. Insured) | 675,000 | 686,904 | |
Series 2021 A, 5% 1/1/26 (Assured Guaranty Muni. Corp. Insured) | 600,000 | 634,264 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Bonds: | |||
Series 2019 A1, 5%, tender 11/15/24 (b) | 800,000 | 814,957 | |
Series 2020 A2, 5%, tender 5/15/24 (b) | 1,600,000 | 1,629,301 | |
Series 2017 C1, 5% 11/15/25 | 1,045,000 | 1,082,201 | |
Series 2017 D, 5% 11/15/23 | 790,000 | 800,192 | |
Series 2020 A, 5% 2/1/23 | 4,765,000 | 4,768,480 | |
New York State Dorm. Auth. Series 2018 A, 5% 3/15/23 (Escrowed to Maturity) | 710,000 | 712,779 | |
New York State Urban Dev. Corp. Series 2020 C, 5% 3/15/23 | 515,000 | 517,156 | |
New York Trans. Dev. Corp. (Term. 4 JFK Int'l. Arpt. Proj.) Series 2020 A, 5% 12/1/25 (c) | 1,930,000 | 1,997,651 | |
Port Auth. of New York & New Jersey Series 2020 221, 5% 7/15/25 (c) | 1,995,000 | 2,072,559 | |
St. Lawrence County Indl. Dev. (St. Lawrence Univ. Proj.) Series 2022: | |||
5% 7/1/25 | 415,000 | 435,430 | |
5% 7/1/26 | 400,000 | 426,563 | |
Syracuse Reg'l. Arpt. Auth. Series 2021, 5% 7/1/24 (c) | 770,000 | 786,576 | |
Triborough Bridge & Tunnel Auth. Bonds Series 2021 A2, 2%, tender 5/15/26 (b) | 1,000,000 | 913,102 | |
TOTAL NEW YORK | 41,177,425 | ||
New York And New Jersey - 0.7% | |||
Port Auth. of New York & New Jersey: | |||
Series 188, 5% 5/1/24 (c) | 1,990,000 | 2,027,352 | |
Series 189, 5% 5/1/23 | 280,000 | 281,824 | |
Series 2013, 5% 7/15/25 (c) | 1,015,000 | 1,015,818 | |
Series 2015 194, 5% 10/15/23 | 500,000 | 508,097 | |
Series 2018, 5% 9/15/25 (c) | 1,970,000 | 2,051,968 | |
Series 2021 226, 5% 10/15/23 (c) | 3,450,000 | 3,485,828 | |
Series 207, 5% 9/15/23 (c) | 870,000 | 878,027 | |
Series 223: | |||
5% 7/15/23 (c) | 2,750,000 | 2,769,053 | |
5% 7/15/24 (c) | 3,250,000 | 3,322,038 | |
5% 7/15/25 (c) | 515,000 | 535,022 | |
TOTAL NEW YORK AND NEW JERSEY | 16,875,027 | ||
North Carolina - 0.3% | |||
Charlotte-Mecklenburg Hosp. Auth. Health Care Sys. Rev. Bonds Series 2021 B, 5%, tender 12/2/24 (b) | 2,525,000 | 2,618,732 | |
North Carolina Grant Anticipation Rev. Series 2017, 5% 3/1/23 | 435,000 | 436,316 | |
North Carolina Med. Care Commission Hosp. Rev. Bonds Series 2021 B, 5%, tender 2/1/26 (b) | 3,975,000 | 4,204,295 | |
TOTAL NORTH CAROLINA | 7,259,343 | ||
Ohio - 0.3% | |||
Franklin County Hosp. Facilities Rev. Bonds (U.S. Health Corp. of Columbus Proj.) Series 2011 B, 5%, tender 5/15/23 (b) | 935,000 | 940,591 | |
Miami Univ. Series 2022 A, 5% 9/1/23 | 915,000 | 926,954 | |
Montgomery County Hosp. Rev. (Kettering Health Network Obligated Group Proj.) Series 2021, 5% 8/1/24 | 200,000 | 205,351 | |
Northeast Ohio Med. Univ. Series 2022: | |||
5% 12/1/23 (Build America Mutual Assurance Insured) | 355,000 | 360,853 | |
5% 12/1/24 (Build America Mutual Assurance Insured) | 250,000 | 259,263 | |
5% 12/1/25 (Build America Mutual Assurance Insured) | 265,000 | 279,906 | |
Ohio Gen. Oblig. Series 2021 A: | |||
5% 3/1/23 | 510,000 | 511,633 | |
5% 3/1/23 | 1,000,000 | 1,003,201 | |
Ohio Hosp. Facilities Rev. Series 2017 A, 5% 1/1/23 | 830,000 | 830,000 | |
Ohio Tpk. Commission Tpk. Rev. (Infrastructure Projs.) Series 2022 A, 5% 2/15/25 | 1,840,000 | 1,927,742 | |
TOTAL OHIO | 7,245,494 | ||
Oklahoma - 0.0% | |||
Univ. of Oklahoma Gen. Rev. Series 2021 A, 5% 7/1/23 (Assured Guaranty Muni. Corp. Insured) | 1,190,000 | 1,200,750 | |
Oregon - 0.9% | |||
Gilliam County Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.): | |||
Series 2000 A, 3%, tender 5/1/23 (b)(c) | 8,100,000 | 8,078,128 | |
Series 2003 A, 3%, tender 5/1/23 (b)(c) | 9,950,000 | 9,923,133 | |
Port of Portland Arpt. Rev.: | |||
Series 2022: | |||
5% 7/1/24 (c) | 2,000,000 | 2,046,568 | |
5% 7/1/25 (c) | 1,310,000 | 1,361,686 | |
Series 24B, 5% 7/1/23 (c) | 1,095,000 | 1,102,808 | |
TOTAL OREGON | 22,512,323 | ||
Pennsylvania - 2.9% | |||
Coatesville Area School District Series 2017, 5% 8/1/23 (Assured Guaranty Muni. Corp. Insured) | 890,000 | 899,642 | |
Pennsylvania Econ. Dev. Fing. Auth.: | |||
Series 2021 A: | |||
4% 10/15/23 | 700,000 | 703,818 | |
4% 10/15/24 | 850,000 | 864,487 | |
Series 2022 A: | |||
5% 2/15/25 | 160,000 | 166,290 | |
5% 2/15/26 | 200,000 | 211,795 | |
Pennsylvania Econ. Dev. Fing. Auth. Indl. Dev. Rev. Series 2016, 5% 3/15/24 | 1,250,000 | 1,277,577 | |
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.): | |||
Series 2019 A, 3.875%, tender 1/17/23 (b)(c) | 2,100,000 | 2,099,935 | |
Series 2019 B1, 3.875%, tender 1/17/23 (b)(c) | 1,700,000 | 1,699,947 | |
(Republic Svcs., Inc. Proj.): | |||
Series 2014, 3.8%, tender 1/3/23 (b)(c) | 29,500,000 | 29,500,000 | |
Series 2019 B2, 2.35%, tender 1/17/23 (b)(c) | 7,200,000 | 7,195,878 | |
(Waste Mgmt., Inc. Proj.) Series 2013, 4%, tender 2/1/23 (b)(c) | 9,100,000 | 9,099,601 | |
(Waste Mgmt., Inc. Proj.): | |||
Series 2017 A, 0.58%, tender 8/1/24 (b)(c) | 900,000 | 843,944 | |
Series 2021 A, SIFMA Municipal Swap Index + 0.400% 4.06%, tender 6/3/24 (b)(c)(e) | 2,845,000 | 2,765,241 | |
Series 2011, 2.15%, tender 7/1/24 (b)(c) | 850,000 | 818,768 | |
Pennsylvania Gen. Oblig. Series 2016, 5% 2/1/23 | 975,000 | 976,420 | |
Pennsylvania Hsg. Fin. Agcy.: | |||
Series 2021 135 B: | |||
5% 4/1/23 (c) | 330,000 | 330,857 | |
5% 4/1/24 (c) | 230,000 | 233,590 | |
5% 4/1/25 (c) | 380,000 | 391,713 | |
Series 2021 137, 0.4% 4/1/23 | 285,000 | 282,972 | |
Series 2022 138: | |||
5% 4/1/23 | 840,000 | 843,819 | |
5% 10/1/23 | 1,135,000 | 1,151,183 | |
5% 4/1/24 | 1,060,000 | 1,085,634 | |
5% 10/1/24 | 1,970,000 | 2,037,496 | |
5% 10/1/25 | 1,100,000 | 1,158,382 | |
Pennsylvania Tpk. Commission Tpk. Rev. Series 2012 A, 5% 12/1/23 | 800,000 | 801,109 | |
Philadelphia Arpt. Rev.: | |||
Series 2017 B, 5% 7/1/23 (c) | 700,000 | 704,651 | |
Series 2021: | |||
5% 7/1/24 (c) | 945,000 | 966,035 | |
5% 7/1/26 (c) | 1,000,000 | 1,048,122 | |
Philadelphia Gas Works Rev. Series 15, 5% 8/1/23 | 780,000 | 787,470 | |
TOTAL PENNSYLVANIA | 70,946,376 | ||
Rhode Island - 0.0% | |||
Rhode Island Student Ln. Auth. Student Ln. Rev. Series 2018 A, 5% 12/1/25 (c) | 875,000 | 909,835 | |
South Carolina - 1.6% | |||
Patriots Energy Group Fing. Agcy. Bonds Series 2018 A, 4%, tender 2/1/24 (b) | 29,755,000 | 29,728,729 | |
South Carolina Ports Auth. Ports Rev.: | |||
Series 2015 (AMT), 5% 7/1/45 (Pre-Refunded to 7/1/25 @ 100) (c) | 2,600,000 | 2,706,376 | |
Series 2015: | |||
5.25% 7/1/50 (Pre-Refunded to 7/1/25 @ 100) (c) | 4,525,000 | 4,736,992 | |
5.25% 7/1/55 (Pre-Refunded to 7/1/25 @ 100) (c) | 2,170,000 | 2,271,662 | |
Series 2019 B, 5% 7/1/23 (c) | 1,000,000 | 1,008,740 | |
Spartanburg County Reg'l. Health Series 2022, 5% 4/15/23 | 410,000 | 411,667 | |
TOTAL SOUTH CAROLINA | 40,864,166 | ||
Tennessee - 1.4% | |||
Metropolitan Gov Nashvle&David Ind. Bonds (Waste Mgmt., Inc. Proj.) Series 2001, 0.58%, tender 8/1/24 (b)(c) | 900,000 | 843,944 | |
Metropolitan Nashville Arpt. Auth. Rev.: | |||
Series 2015 B, 5% 7/1/23 (c) | 680,000 | 684,849 | |
Series 2022 B, 5% 7/1/26 (c) | 675,000 | 710,203 | |
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 21,250,000 | 21,559,519 | |
Tennessee Energy Acquisition Corp. Bonds (Gas Rev. Proj.) Series A, 4%, tender 5/1/23 (b) | 12,325,000 | 12,344,939 | |
TOTAL TENNESSEE | 36,143,454 | ||
Texas - 3.2% | |||
Austin Arpt. Sys. Rev.: | |||
Series 2019: | |||
5% 11/15/23 (c) | 655,000 | 663,992 | |
5% 11/15/24 (c) | 500,000 | 515,741 | |
Series 2022, 5% 11/15/25 (c) | 1,910,000 | 1,993,757 | |
Crandall Independent School District Series 2021 A, 0% 8/15/24 | 765,000 | 727,770 | |
Dallas Fort Worth Int'l. Arpt. Rev. Series 2013 E, 5% 11/1/23 (c) | 10,750,000 | 10,877,070 | |
El Paso Gen. Oblig.: | |||
Series 2021 B, 5% 8/15/23 | 300,000 | 303,791 | |
Series 2021 C, 5% 8/15/23 | 335,000 | 339,233 | |
Hays Consolidated Independent School District Series 2022: | |||
5% 2/15/25 | 500,000 | 523,527 | |
5% 2/15/26 | 700,000 | 749,033 | |
Houston Convention and Entertainment Facilities Dept. Hotel Occupancy Tax and Spl. Rev. Series 2014, 5% 9/1/26 | 1,500,000 | 1,540,069 | |
Houston Independent School District Series 2016 A, 5% 2/15/23 | 725,000 | 726,637 | |
Love Field Arpt. Modernization Rev. Series 2021, 5% 11/1/23 (c) | 2,330,000 | 2,357,542 | |
Lower Colorado River Auth. Rev.: | |||
(LCRA Transmission Svcs. Corp. Proj.): | |||
Series 2015, 5% 5/15/24 | 1,080,000 | 1,108,223 | |
Series 2018, 5% 5/15/24 | 2,095,000 | 2,149,747 | |
Series 2019, 5% 5/15/23 | 1,335,000 | 1,343,567 | |
Series 2020: | |||
5% 5/15/23 | 385,000 | 387,471 | |
5% 5/15/25 | 570,000 | 595,333 | |
Series 2021 A, 5% 5/15/23 | 1,190,000 | 1,197,636 | |
Series 2015 B, 5% 5/15/23 | 1,000,000 | 1,006,417 | |
Series 2020: | |||
5% 5/15/23 | 1,500,000 | 1,509,626 | |
5% 5/15/24 | 760,000 | 779,860 | |
Series 2022, 5% 5/15/24 (Assured Guaranty Muni. Corp. Insured) | 1,630,000 | 1,672,595 | |
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2020 A, 4.1%, tender 2/1/23 (b)(c) | 9,200,000 | 9,200,711 | |
(Waste Mgmt., Inc. Proj.): | |||
Series 2018, 4.035%, tender 7/1/24 (b)(c) | 6,835,000 | 6,627,857 | |
Series 2020 A, 3.5%, tender 3/1/23 (b)(c) | 3,000,000 | 2,996,416 | |
Series 2020 B, 3.5%, tender 3/1/23 (b)(c) | 3,800,000 | 3,795,460 | |
North Texas Tollway Auth. Rev.: | |||
Series 2014: | |||
5% 1/1/24 | 630,000 | 642,597 | |
5% 1/1/24 (Escrowed to Maturity) | 310,000 | 316,382 | |
Series 2017 A: | |||
5% 1/1/24 | 210,000 | 210,302 | |
5% 1/1/24 (Pre-Refunded to 1/1/23 @ 100) | 1,655,000 | 1,655,000 | |
Series 2021 B, 5% 1/1/26 | 1,150,000 | 1,217,025 | |
Port Arthur Independent School District Series 2015 A, 5% 2/15/25 | 600,000 | 628,233 | |
Port of Houston Auth. Series 2021, 5% 10/1/23 | 440,000 | 446,761 | |
San Antonio Arpt. Sys. Rev. Series 2019 A: | |||
5% 7/1/23 (c) | 445,000 | 448,065 | |
5% 7/1/23 (c) | 400,000 | 402,755 | |
San Antonio Elec. & Gas Sys. Rev.: | |||
Bonds Series 2018, SIFMA Municipal Swap Index + 0.870% 4.53%, tender 12/1/25 (b)(e) | 8,480,000 | 8,480,046 | |
Series 2022, 5% 2/1/26 | 905,000 | 964,059 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Bonds (Baylor Scott & White Health Proj.) Series 2022 E, 5%, tender 5/15/26 (b) | 4,240,000 | 4,476,531 | |
Wylie Independent School District Series 2020 A, 0% 8/15/23 | 2,985,000 | 2,928,929 | |
TOTAL TEXAS | 78,505,766 | ||
Utah - 0.1% | |||
Salt Lake City Arpt. Rev. Series 2021 A: | |||
5% 7/1/24 (c) | 1,000,000 | 1,024,164 | |
5% 7/1/25 (c) | 1,325,000 | 1,375,027 | |
Utah County Hosp. Rev. Bonds Series 2018 B2, 5%, tender 8/1/24 (b) | 970,000 | 988,641 | |
TOTAL UTAH | 3,387,832 | ||
Vermont - 0.1% | |||
Vermont Student Assistant Corp. Ed. Ln. Rev.: | |||
Series 2016 A, 5% 6/15/26 (c) | 1,700,000 | 1,783,065 | |
Series 2017 A, 5% 6/15/23 (c) | 1,150,000 | 1,157,651 | |
TOTAL VERMONT | 2,940,716 | ||
Virginia - 0.8% | |||
Charles City County Econ. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2003 A, 3%, tender 5/1/23 (b)(c) | 9,460,000 | 9,434,456 | |
Sussex County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds Series 2003 A, 3%, tender 5/1/23 (b)(c) | 8,000,000 | 7,978,398 | |
Wise County Indl. Dev. Auth. Waste & Sewage Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2010 A, 1.2%, tender 5/31/24 (b) | 1,795,000 | 1,712,674 | |
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) | 1,100,000 | 1,087,681 | |
TOTAL VIRGINIA | 20,213,209 | ||
Washington - 1.0% | |||
King County Swr. Rev. Bonds Series 2020 B, 0.875%, tender 1/1/26 (b) | 2,315,000 | 2,118,425 | |
Port of Seattle Rev.: | |||
Series 2018 B, 5% 5/1/24 (c) | 875,000 | 891,993 | |
Series 2019: | |||
5% 4/1/24 (c) | 760,000 | 773,717 | |
5% 4/1/25 (c) | 525,000 | 543,476 | |
Series 2021 C: | |||
5% 8/1/23 (c) | 2,640,000 | 2,660,618 | |
5% 8/1/24 (c) | 4,675,000 | 4,785,608 | |
Series 2021: | |||
5% 9/1/23 (c) | 2,100,000 | 2,125,785 | |
5% 9/1/24 (c) | 2,220,000 | 2,286,554 | |
Series 2022 B: | |||
5% 8/1/24 (c) | 2,670,000 | 2,733,171 | |
5% 8/1/25 (c) | 2,515,000 | 2,617,735 | |
5% 8/1/26 (c) | 1,570,000 | 1,653,656 | |
Port of Seattle Spl. Facility Rev. Series 2013, 5% 6/1/23 (c) | 845,000 | 849,577 | |
TOTAL WASHINGTON | 24,040,315 | ||
Wisconsin - 0.3% | |||
Wisconsin Health & Edl. Facilities Auth. Rev. Series 2022: | |||
5% 10/1/23 | 1,010,000 | 1,023,581 | |
5% 10/1/24 | 4,465,000 | 4,617,210 | |
5% 10/1/25 | 920,000 | 970,321 | |
Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev. Bonds Series 2021 C, 0.61%, tender 5/1/24 (b) | 305,000 | 290,337 | |
TOTAL WISCONSIN | 6,901,449 | ||
TOTAL MUNICIPAL BONDS (Cost $1,198,376,499) | 1,181,613,250 | ||
Municipal Notes - 50.0% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.4% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 4.15% 1/6/23, VRDN (b)(c) | 1,760,000 | 1,760,000 | |
Jefferson County Ala Board Ed. Pubs Participating VRDN Series XM 10 90, 2.26% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 5,100,000 | 5,100,000 | |
Mobile Indl. Dev. Board Rev. (Alabama Pwr. Theodore Plant Proj.) Series A, 3.74% 1/3/23, VRDN (b)(c) | 4,095,000 | 4,095,000 | |
TOTAL ALABAMA | 10,955,000 | ||
Arizona - 2.4% | |||
Glendale Indl. dev auth Sr Living Facilities Rev. Participating VRDN Series BC 22 01, 3.44% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 4,700,000 | 4,700,000 | |
Maricopa County Poll. Cont. Rev.: | |||
Series 2009 C, 4% 1/6/23, VRDN (b) | 30,500,000 | 30,500,000 | |
Series 2009 D, 4% 1/6/23, VRDN (b) | 23,540,000 | 23,540,000 | |
Phoenix Civic Impt. Board Arpt. Rev. Participating VRDN Series 2018 XM 06 15, 3.85% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 1,600,000 | 1,600,000 | |
TOTAL ARIZONA | 60,340,000 | ||
Arkansas - 0.1% | |||
Blytheville Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1998, 4.15% 1/6/23, VRDN (b)(c) | 2,600,000 | 2,600,000 | |
California - 7.7% | |||
California Cmnty. Choice Fing. Auth. Clean Energy Proj. Rev. Participating VRDN Series XF 30 07, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 11,900,000 | 11,900,000 | |
California Statewide Cmntys. Dev. Auth. Multi-family Hsg. Rev. Participating VRDN Series Floater MIZ 91 13, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g) | 3,300,000 | 3,300,000 | |
Los Angeles Cmnty. Redev. Agcy. Multi-family Hsg. Rev. Participating VRDN: | |||
Series 2022 MIZ 90 89, 3.91% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(c)(f)(g) | 28,400,000 | 28,400,000 | |
Series 2022 MIZ 90 90, 3.91% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(c)(f)(g) | 42,900,000 | 42,900,000 | |
Mizuho Floater / Residual Trust V Participating VRDN Series Floater MIZ 90 97, 3.91% 1/6/23, LOC Mizuho Cap. Markets LLC (b)(f)(g) | 2,905,000 | 2,905,000 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Participating VRDN Series XM 10 54, 3.84% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 5,375,000 | 5,375,000 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN Series 2022 XF 30 51, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 4,900,000 | 4,900,000 | |
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN: | |||
Series MIZ 90 63, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 23,330,000 | 23,330,000 | |
Series MIZ 90 95, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g) | 27,100,000 | 27,100,000 | |
Series MIZ 91 15, 3.96% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 40,000,000 | 40,000,000 | |
TOTAL CALIFORNIA | 190,110,000 | ||
Colorado - 1.5% | |||
Colorado Edl. & Cultural Facilities Auth. Rev. (Mesivta of Greater Los Angeles Proj.) Series 2005, 4.01% 1/6/23, LOC Deutsche Bank AG, VRDN (b) | 1,735,000 | 1,735,000 | |
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN: | |||
Series XM 10 59, 3.91% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,620,000 | 1,620,000 | |
Series XM 10 61, 3.91% 1/5/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 4,180,000 | 4,180,000 | |
Colorado Hsg. & Fin. Auth. Multi-family Hsg. Rev. Participating VRDN Series Floater 2021 MIZ 90 68, 3.76% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 300,000 | 300,000 | |
Denver City & County Arpt. Rev. Participating VRDN: | |||
Series Floaters XL 00 90, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 14,861,500 | 14,861,500 | |
Series Floaters XM 07 15, 3.91% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 14,000,000 | 14,000,000 | |
TOTAL COLORADO | 36,696,500 | ||
Florida - 1.8% | |||
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Participating VRDN: | |||
Series Floaters XF 05 77, 3.85% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 6,665,000 | 6,665,000 | |
Series XM 10 93, 2.12% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 7,400,000 | 7,400,000 | |
Hillsborough County Aviation Auth. Rev. Participating VRDN Series XL 02 90, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 8,390,000 | 8,390,000 | |
Lee Memorial Health Sys. Hosp. Rev. Series 2019 B, 4.21% 1/6/23, VRDN (b) | 19,270,000 | 19,270,000 | |
Miami Dade County Hsg. Multifamily Hsg. Rev. Participating VRDN: | |||
Series Floater MIZ 90 87, 3.74% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 1,900,000 | 1,900,000 | |
Series MIZ 90 72, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 800,000 | 800,000 | |
TOTAL FLORIDA | 44,425,000 | ||
Georgia - 1.0% | |||
Bartow County Dev. Auth. (Georgia Pwr. Co. Plant Bowen Proj.) Series 2022: | |||
3.8% 1/3/23, VRDN (b)(c) | 3,250,000 | 3,250,000 | |
3.9% 1/3/23, VRDN (b)(c) | 5,220,000 | 5,220,000 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2012, 3.8% 1/3/23, VRDN (b)(c) | 9,440,000 | 9,440,000 | |
Coweta County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Yates Proj.) Series 2006, 3.9% 1/3/23, VRDN (b) | 5,600,000 | 5,600,000 | |
Griffin-Spalding County Hosp. Participating VRDN Series Floaters XL 00 76, 3.83% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 2,300,000 | 2,300,000 | |
TOTAL GEORGIA | 25,810,000 | ||
Hawaii - 0.6% | |||
Hawaii Arpts. Sys. Rev. Participating VRDN: | |||
Series XG 03 86, 3.84% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 11,900,000 | 11,900,000 | |
Series XM 10 55, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 3,400,000 | 3,400,000 | |
TOTAL HAWAII | 15,300,000 | ||
Illinois - 4.0% | |||
Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN: | |||
Series XM 10 38, 3.93% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 39,900,000 | 39,900,000 | |
Series XM 10 41, 3.96% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 10,500,000 | 10,500,000 | |
Series XM 10 43, 3.96% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 8,000,000 | 8,000,000 | |
Series XM 10 78, 3.93% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 28,400,000 | 28,400,000 | |
Series XX 12 43, 3.86% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 7,150,000 | 7,150,000 | |
Deutsche Spears/Lifers Trust Participating VRDN Series 2016 XG 00 93, 3.86% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 4,490,000 | 4,490,000 | |
TOTAL ILLINOIS | 98,440,000 | ||
Indiana - 0.2% | |||
Lucky Heights Tc, Lp Participating VRDN Series XF 11 41, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 4,300,000 | 4,300,000 | |
Kentucky - 3.2% | |||
Kentucky Tpk. Auth. Econ. Dev. Road Rev. Participating VRDN Series XF 24 84, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 1,780,000 | 1,780,000 | |
Meade County Indl. Bldg. Rev. (Nucor Steel Brandenburg Proj.): | |||
Series 2020 A1, 4.28% 1/3/23, VRDN (b)(c) | 20,640,000 | 20,640,000 | |
Series 2020 B1, 4.28% 1/3/23, VRDN (b)(c) | 57,920,000 | 57,920,000 | |
TOTAL KENTUCKY | 80,340,000 | ||
Louisiana - 2.4% | |||
Galilee Sr. Hsg., Lp Participating VRDN Series XF 11 21, 3.91% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 5,900,000 | 5,900,000 | |
Louisiana Hsg. Corp. Multifamily Hsg. Rev. Participating VRDN Series MIZ 90 53, 3.32% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 1,400,000 | 1,400,000 | |
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.): | |||
Series 2010 A1, 4.12% 1/6/23, VRDN (b) | 38,000,000 | 38,000,000 | |
Series 2010 B1, 4.1% 1/6/23, VRDN (b) | 15,000,000 | 15,000,000 | |
TOTAL LOUISIANA | 60,300,000 | ||
Maryland - 0.4% | |||
Baltimore County Gen. Oblig. Participating VRDN Series 2022 032, 3.86% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,220,000 | 3,220,000 | |
Integrace Obligated Group Participating VRDN Series 2022 024, 3.86% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 6,900,000 | 6,900,000 | |
TOTAL MARYLAND | 10,120,000 | ||
Massachusetts - 0.3% | |||
Massachusetts Edl. Fing. Auth. Rev. Participating VRDN Series Floaters XF 23 06, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 7,600,000 | 7,600,000 | |
Michigan - 0.5% | �� | ||
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev. Participating VRDN Series XM 10 91, 2.01% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 6,240,000 | 6,240,000 | |
Michigan Bldg. Auth. Rev. Series 2020 III, 3.72% 1/31/24, VRDN (b) | 3,500,000 | 3,500,000 | |
Michigan Fin. Auth. Rev. RAN Series 2022 A, 5% 7/20/23 | 2,235,000 | 2,259,224 | |
TOTAL MICHIGAN | 11,999,224 | ||
Minnesota - 0.3% | |||
Duluth Minn Hsg. & Redev. Auth. MultiFamily Hsg. Rev. Participating VRDN Series 2021 XF 11 30, 3.69% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 6,375,000 | 6,375,000 | |
Mississippi - 0.7% | |||
Mississippi Bus. Fin. Corp. Mississippi Pwr. Co. Proj.) Series 2022, 3.83% 1/3/23, VRDN (b)(c) | 17,000,000 | 17,000,000 | |
Missouri - 0.5% | |||
Kansas City Indl. Dev. Auth. Participating VRDN Series XL 03 3, 3.96% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 9,600,000 | 9,600,000 | |
Kansas City Planned Indl. Expansion Participating VRDN Series Floater MIZ 90 86, 3.69% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 1,500,000 | 1,500,000 | |
Lees Summit Indl. Dev. Auth. Multi-family Hsg. Rev. Participating VRDN Series MIZ 90 55, 3.5% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 500,000 | 500,000 | |
TOTAL MISSOURI | 11,600,000 | ||
Montana - 0.0% | |||
Montana Board of Hsg. Participating VRDN Series Floater MIZ 90 62, 3.81% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 1,110,000 | 1,110,000 | |
Nebraska - 0.2% | |||
Stanton County Indl. Dev. Rev.: | |||
(Nucor Corp. Proj.) Series 1996, 4.15% 1/6/23, VRDN (b)(c) | 5,600,000 | 5,600,000 | |
Series 1998, 4.15% 1/6/23, VRDN (b)(c) | 125,000 | 125,000 | |
TOTAL NEBRASKA | 5,725,000 | ||
Nevada - 0.3% | |||
Nevada Hsg. Division Participating VRDN Series 2022 MIZ 90 91, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 8,600,000 | 8,600,000 | |
New Jersey - 0.5% | |||
New Jersey Bldg. Auth. State Bldg. Rev. Participating VRDN Series Floaters XF 05 53, 3.73% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 3,750,000 | 3,750,000 | |
New Jersey Trans. Trust Fund Auth. Participating VRDN: | |||
Series XM 09 29, 3.83% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,600,000 | 1,600,000 | |
Series XM 10 47, 3.86% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 7,925,000 | 7,925,000 | |
TOTAL NEW JERSEY | 13,275,000 | ||
New Mexico - 0.2% | |||
New Mexico St Hosp. Equip. Ln. Co. Participating VRDN Series 2022 034, 3.86% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 4,400,000 | 4,400,000 | |
New York - 6.1% | |||
New York City Gen. Oblig. Series 2012 2, 3.97% 1/9/23, VRDN (b) | 61,600,000 | 61,600,000 | |
New York Dorm. Auth. Rev. Participating VRDN Series XF 13 28, 3.83% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 5,450,000 | 5,450,000 | |
New York Liberty Dev. Corp. Participating VRDN Series XM 08 44, 3.91% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 8,165,000 | 8,165,000 | |
New York Metropolitan Trans. Auth. Rev. Participating VRDN: | |||
Series XF 13 21, 3.84% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 6,900,000 | 6,900,000 | |
Series XF 13 55, 3.84% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 7,500,000 | 7,500,000 | |
Series ZF 02 18, 3.84% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 8,100,000 | 8,100,000 | |
New York Thruway Auth. Gen. Rev. Participating VRDN Series XM 08 31, 3.84% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 4,750,000 | 4,750,000 | |
RIB Floater Trust Various States Participating VRDN Series Floater 2022 007, 4.06% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 43,900,000 | 43,900,000 | |
Rockland County Indl. Dev. Agcy. Participating VRDN Series XF 11 32, 3.86% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 4,700,000 | 4,700,000 | |
TOTAL NEW YORK | 151,065,000 | ||
Ohio - 0.9% | |||
Ohio Hosp. Rev.: | |||
Series 2013 B, 4.14% 1/6/23, VRDN (b) | 7,800,000 | 7,800,000 | |
Series 2015 B, 4.14% 1/5/26, VRDN (b) | 2,875,000 | 2,875,000 | |
Ohio Hsg. Fin. Agcy. Multi-family Hsg. Rev. Participating VRDN Series XF 10 92, 3.59% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 12,200,000 | 12,200,000 | |
TOTAL OHIO | 22,875,000 | ||
Oklahoma - 0.8% | |||
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Series 2020 B, 4.21% 1/5/26, VRDN (b) | 16,000,000 | 16,000,000 | |
Steele Duncan Plaza, LLC Participating VRDN Series MIZ 91 03, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 2,600,000 | 2,600,000 | |
TOTAL OKLAHOMA | 18,600,000 | ||
Oregon - 0.5% | |||
Oregon St Hsg. & Cmnty. Svcs. Dep Participating VRDN Series 2021 XF 11 23, 3.65% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 13,600,000 | 13,600,000 | |
Pennsylvania - 0.7% | |||
Pennsylvania Hsg. Fin. Agcy. Multifamily Hsg. Dev. Rev. Participating VRDN Series XF 10 95, 3.69% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 10,455,000 | 10,455,000 | |
Philadelphia Auth. for Indl. Dev.: | |||
Participating VRDN Series MIZ 90 51, 3.35% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 2,430,000 | 2,430,000 | |
Series 2017 B, 4.17% 1/5/26, VRDN (b) | 5,250,000 | 5,250,000 | |
TOTAL PENNSYLVANIA | 18,135,000 | ||
South Carolina - 0.3% | |||
Berkeley County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1995, 4.15% 1/6/23, VRDN (b)(c) | 1,200,000 | 1,200,000 | |
Greenville Hosp. Sys. Facilities Rev. Participating VRDN Series XF 01 45, 3.86% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 5,100,000 | 5,100,000 | |
TOTAL SOUTH CAROLINA | 6,300,000 | ||
Tennessee - 0.7% | |||
Hope Heights Tower Tc, Lp Participating VRDN Series XF 11 44, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 7,880,000 | 7,880,000 | |
Metropolitan Govt. Nashville & Davidson County Health & Edl. Facilities Board Participating VRDN Series XF 10 97, 3.56% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 9,800,000 | 9,800,000 | |
TOTAL TENNESSEE | 17,680,000 | ||
Texas - 8.8% | |||
Austin Affordable Pfc, Inc. Multifamily Hsg. Rev. Participating VRDN: | |||
Series XF 11 02, 3.72% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 4,645,000 | 4,645,000 | |
Series XF 11 19, 3.75% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 5,200,000 | 5,200,000 | |
Austin Arpt. Sys. Rev. Participating VRDN Series XG 04 27, 3.91% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 6,800,000 | 6,800,000 | |
Cap. Area Hsg. Fin. Corp. Multi-family Hsg. Rev. Participating VRDN Series XF 11 31, 3.85% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 10,580,000 | 10,580,000 | |
Ep Machuca Lp Participating VRDN Series MIZ 91 04, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 3,660,000 | 3,660,000 | |
Hurst Participating VRDN Series XF 10 94, 3.7% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 3,465,000 | 3,465,000 | |
Jefferson's Landing, LP Participating VRDN Series XG 03 87, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 17,200,000 | 17,200,000 | |
North Central Texas Hsg. Fin. Corp. Mu Participating VRDN Series XF 10 99, 3.86% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 2,900,000 | 2,900,000 | |
Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.): | |||
Series 2001 A, 4.2% 1/3/23, VRDN (b) | 16,200,000 | 16,200,000 | |
Series 2004, 4.51% 1/6/23, VRDN (b)(c) | 71,385,000 | 71,384,993 | |
Series 2010 C, 4.21% 1/3/23, VRDN (b) | 2,200,000 | 2,200,000 | |
Series 2010 D: | |||
4.45% 1/6/23, VRDN (b) | 33,480,000 | 33,480,000 | |
4.46% 1/6/23, VRDN (b) | 2,475,000 | 2,475,000 | |
Reg Bridge Propco I Llc Participating VRDN Series DBE 80 90, 4.06% 2/28/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g)(h) | 22,315,000 | 22,315,000 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Participating VRDN Series XG 03 89, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG) (b)(f)(g) | 7,600,000 | 7,600,000 | |
Texas Private Activity Bond Surface Trans. Corp. Participating VRDN Series XM 07 56, 3.85% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 3,400,000 | 3,400,000 | |
Texas St Technical College Sys. Participating VRDN Series 2022 XF 14 11, 3.86% 1/6/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 4,540,000 | 4,540,000 | |
TOTAL TEXAS | 218,044,993 | ||
Utah - 0.8% | |||
Roers Salt Lake City Apt. Participating VRDN Series XF 11 38, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 5,620,000 | 5,620,000 | |
Salt Lake City Arpt. Rev. Participating VRDN Series 17 XM 0493, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 6,300,000 | 6,300,000 | |
Utah Hsg. Corp. Multi-family Hsg. Rev. Participating VRDN Series 2021 XF 11 00, 3.78% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 8,300,000 | 8,300,000 | |
TOTAL UTAH | 20,220,000 | ||
Virginia - 0.4% | |||
Lynchburg Econ. Dev. Participating VRDN Series XL 00 75, 3.91% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 5,000,000 | 5,000,000 | |
Waters At James Crossing, LP Participating VRDN Series XG 03 90, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 4,000,000 | 4,000,000 | |
TOTAL VIRGINIA | 9,000,000 | ||
Washington - 0.4% | |||
Washington Econ. Dev. Fin. Auth. Rev. Participating VRDN Series Floaters 005, 3.91% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 9,255,000 | 9,255,000 | |
West Virginia - 0.3% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 E, 4.18% 1/5/26, VRDN (b) | 7,415,000 | 7,415,000 | |
Wisconsin - 0.1% | |||
Pub. Fin. Auth. Mulfa Hs Rev. Participating VRDN Series 2022 MIZ 90 92, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 3,235,000 | 3,235,000 | |
TOTAL MUNICIPAL NOTES (Cost $1,242,837,851) | 1,242,845,717 | ||
Money Market Funds - 2.4% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.72% (i)(j) (Cost $60,404,000) | 60,391,922 | 60,404,000 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $2,501,618,350) | 2,484,862,967 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 159,146 |
NET ASSETS - 100.0% | 2,485,022,113 |
RAN | - | REVENUE ANTICIPATION NOTE |
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 $34,144,940 or 1.4% of net assets. |
(e) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(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) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $113,680,000 or 4.6% of net assets. |
(i) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Colorado Hsg. & Fin. Auth. Multi-family Hsg. Rev. Participating VRDN Series Floater 2021 MIZ 90 68, 3.76% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 4/14/21 | 300,000 |
Ep Machuca Lp Participating VRDN Series MIZ 91 04, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 8/05/22 | 3,660,000 |
Kansas City Planned Indl. Expansion Participating VRDN Series Floater MIZ 90 86, 3.69% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 1/27/22 | 1,500,000 |
Lees Summit Indl. Dev. Auth. Multi-family Hsg. Rev. Participating VRDN Series MIZ 90 55, 3.5% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 12/29/20 | 500,000 |
Louisiana Hsg. Corp. Multifamily Hsg. Rev. Participating VRDN Series MIZ 90 53, 3.32% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 12/17/20 | 1,400,000 |
Miami Dade County Hsg. Multifamily Hsg. Rev. Participating VRDN Series Floater MIZ 90 87, 3.74% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 1/27/22 | 1,900,000 |
Miami Dade County Hsg. Multifamily Hsg. Rev. Participating VRDN Series MIZ 90 72, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 9/02/21 | 800,000 |
Montana Board of Hsg. Participating VRDN Series Floater MIZ 90 62, 3.81% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 3/02/21 | 1,110,000 |
Nevada Hsg. Division Participating VRDN Series 2022 MIZ 90 91, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 2/10/22 | 8,600,000 |
Philadelphia Auth. for Indl. Dev. Participating VRDN Series MIZ 90 51, 3.35% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 11/12/20 | 2,430,000 |
Pub. Fin. Auth. Mulfa Hs Rev. Participating VRDN Series 2022 MIZ 90 92, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 2/24/22 | 3,235,000 |
Reg Bridge Propco I Llc Participating VRDN Series DBE 80 90, 4.06% 2/28/23 (Liquidity Facility Deutsche Bank AG New York Branch) | 9/27/22 | 22,315,000 |
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN Series MIZ 90 63, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 2/18/21 | 23,330,000 |
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN Series MIZ 91 15, 3.96% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 12/01/22 - 12/19/22 | 40,000,000 |
Steele Duncan Plaza, LLC Participating VRDN Series MIZ 91 03, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 8/11/22 | 2,600,000 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Municipal Cash Central Fund 3.72% | 111,289,220 | 1,140,128,007 | 1,191,013,222 | 1,941,204 | 1,892 | (1,897) | 60,404,000 | 2.4% |
Total | 111,289,220 | 1,140,128,007 | 1,191,013,222 | 1,941,204 | 1,892 | (1,897) | 60,404,000 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 2,424,458,967 | - | 2,424,458,967 | - |
Money Market Funds | 60,404,000 | 60,404,000 | - | - |
Total Investments in Securities: | 2,484,862,967 | 60,404,000 | 2,424,458,967 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | $ | |||
Unaffiliated issuers (cost $2,441,214,350) | 2,424,458,967 | |||
Fidelity Central Funds (cost $60,404,000) | 60,404,000 | |||
Total Investment in Securities (cost $2,501,618,350) | $ | 2,484,862,967 | ||
Receivable for investments sold | 43,840,000 | |||
Receivable for fund shares sold | 3,493,866 | |||
Interest receivable | 16,747,292 | |||
Distributions receivable from Fidelity Central Funds | 283,192 | |||
Receivable from investment adviser for expense reductions | 205,561 | |||
Other receivables | 2,030 | |||
Total assets | 2,549,434,908 | |||
Liabilities | ||||
Payable to custodian bank | $2,262,235 | |||
Payable for investments purchased | 48,240,000 | |||
Payable for fund shares redeemed | 9,362,559 | |||
Distributions payable | 3,772,769 | |||
Accrued management fee | 659,119 | |||
Other affiliated payables | 116,113 | |||
Total Liabilities | 64,412,795 | |||
Net Assets | $ | 2,485,022,113 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,503,042,097 | ||
Total accumulated earnings (loss) | (18,019,984) | |||
Net Assets | $ | 2,485,022,113 | ||
Net Asset Value and Maximum Offering Price | ||||
Conservative Income Municipal Bond : | ||||
Net Asset Value , offering price and redemption price per share ($145,195,060 ÷ 14,565,260 shares) | $ | 9.97 | ||
Institutional Class : | ||||
Net Asset Value , offering price and redemption price per share ($2,339,827,053 ÷ 234,715,558 shares) | $ | 9.97 |
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 29,475,995 | ||
Income from Fidelity Central Funds | 1,939,369 | |||
Total Income | 31,415,364 | |||
Expenses | ||||
Management fee | $ | 7,758,953 | ||
Transfer agent fees | 1,368,728 | |||
Independent trustees' fees and expenses | 8,335 | |||
Miscellaneous | 494 | |||
Total expenses before reductions | 9,136,510 | |||
Expense reductions | (2,515,758) | |||
Total expenses after reductions | 6,620,752 | |||
Net Investment income (loss) | 24,794,612 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (184,310) | |||
Fidelity Central Funds | 1,892 | |||
Capital gain distributions from Fidelity Central Funds | 1,835 | |||
Total net realized gain (loss) | (180,583) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (18,545,390) | |||
Fidelity Central Funds | (1,897) | |||
Total change in net unrealized appreciation (depreciation) | (18,547,287) | |||
Net gain (loss) | (18,727,870) | |||
Net increase (decrease) in net assets resulting from operations | $ | 6,066,742 |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 24,794,612 | $ | 7,477,863 |
Net realized gain (loss) | (180,583) | 159,817 | ||
Change in net unrealized appreciation (depreciation) | (18,547,287) | (4,127,730) | ||
Net increase (decrease) in net assets resulting from operations | 6,066,742 | 3,509,950 | ||
Distributions to shareholders | (24,762,794) | (7,476,045) | ||
Share transactions - net increase (decrease) | (257,663,646) | (674,382,489) | ||
Total increase (decrease) in net assets | (276,359,698) | (678,348,584) | ||
Net Assets | ||||
Beginning of period | 2,761,381,811 | 3,439,730,395 | ||
End of period | $ | 2,485,022,113 | $ | 2,761,381,811 |
Fidelity® Conservative Income Municipal Bond Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.04 | $ | 10.05 | $ | 10.05 | $ | 10.02 | $ | 10.01 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .086 | .015 | .071 | .147 | .134 | |||||
Net realized and unrealized gain (loss) | (.069) | (.010) | .007 | .032 | .011 | |||||
Total from investment operations | .017 | .005 | .078 | .179 | .145 | |||||
Distributions from net investment income | (.087) | (.015) | (.077) | (.148) | (.134) | |||||
Distributions from net realized gain | - | - | (.001) | (.001) | (.001) | |||||
Total distributions | (.087) | (.015) | (.078) | (.149) | (.135) | |||||
Net asset value, end of period | $ | 9.97 | $ | 10.04 | $ | 10.05 | $ | 10.05 | $ | 10.02 |
Total Return C | .17% | .05% | .78% | 1.79% | 1.45% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .40% | .40% | .40% | .40% | .40% | |||||
Expenses net of fee waivers, if any | .35% | .35% | .35% | .35% | .35% | |||||
Expenses net of all reductions | .35% | .35% | .35% | .35% | .35% | |||||
Net investment income (loss) | .86% | .15% | .71% | 1.46% | 1.34% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 145,195 | $ | 180,805 | $ | 264,227 | $ | 231,598 | $ | 251,811 |
Portfolio turnover rate F | 56% | 56% | 41% | 63% | 45% G |
Fidelity® Conservative Income Municipal Bond Fund Institutional Class |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.04 | $ | 10.06 | $ | 10.06 | $ | 10.02 | $ | 10.01 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .096 | .025 | .081 | .157 | .144 | |||||
Net realized and unrealized gain (loss) | (.069) | (.020) | .007 | .042 | .011 | |||||
Total from investment operations | .027 | .005 | .088 | .199 | .155 | |||||
Distributions from net investment income | (.097) | (.025) | (.087) | (.158) | (.144) | |||||
Distributions from net realized gain | - | - | (.001) | (.001) | (.001) | |||||
Total distributions | (.097) | (.025) | (.088) | (.159) | (.145) | |||||
Net asset value, end of period | $ | 9.97 | $ | 10.04 | $ | 10.06 | $ | 10.06 | $ | 10.02 |
Total Return C | .27% | .05% | .88% | 2.00% | 1.56% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .35% | .35% | .35% | .35% | .35% | |||||
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) | .96% | .25% | .81% | 1.56% | 1.44% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 2,339,827 | $ | 2,580,577 | $ | 3,175,503 | $ | 2,108,640 | $ | 1,607,689 |
Portfolio turnover rate F | 56% | 56% | 41% | 63% | 45% G |
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 | $898,322 |
Gross unrealized depreciation | (17,625,980) |
Net unrealized appreciation (depreciation) | $ (16,727,658) |
Tax Cost | $2,501,590,625 |
Capital loss carryforward | $(1,291,642) |
Net unrealized appreciation (depreciation) on securities and other investments | $(16,727,658) |
Short-term | $(1,110,648) |
Long-term | (180,994) |
Total capital loss carryforward | $(1,291,642) |
December 31, 2022 | December 31, 2021 | |
Tax-exempt Income | $24,762,794 | $7,476,045 |
Ordinary Income | - | - |
Total | $24,762,794 | $7,476,045 |
Purchases ($) | Sales ($) | |
Fidelity Conservative Income Municipal Bond Fund | 713,719,831 | 979,379,594 |
Amount | |
Conservative Income Municipal Bond | $151,139 |
Institutional Class | 1,217,589 |
$1,368,728 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Conservative Income Municipal Bond Fund | 97,415,000 | 101,767,143 | (5,581) |
Expense Limitations | Reimbursement | |
Conservative Income Municipal Bond | .35% | $75,712 |
Institutional Class | .25% | 2,436,680 |
$2,512,392 |
Year ended December 31, 2022 | Year ended December 31, 2021 | |
Fidelity Conservative Income Municipal Bond Fund | ||
Distributions to shareholders | ||
Conservative Income Municipal Bond | $1,260,065 | $362,605 |
Institutional Class | 23,502,729 | 7,113,440 |
Total | $24,762,794 | $7,476,045 |
Shares | Shares | Dollars | Dollars | |
Year ended December 31, 2022 | Year ended December 31, 2021 | Year ended December 31, 2022 | Year ended December 31, 2021 | |
Fidelity Conservative Income Municipal Bond Fund | ||||
Conservative Income Municipal Bond | ||||
Shares sold | 6,431,861 | 8,524,530 | $64,090,475 | $85,739,190 |
Reinvestment of distributions | 104,367 | 30,330 | 1,039,599 | 304,931 |
Shares redeemed | (9,979,407) | (16,825,326) | (99,539,380) | (169,146,195) |
Net increase (decrease) | (3,443,179) | (8,270,466) | $(34,409,306) | $(83,102,074) |
Institutional Class | ||||
Shares sold | 232,738,873 | 175,381,338 | $2,320,419,781 | $1,763,184,354 |
Reinvestment of distributions | 692,458 | 322,576 | 6,899,221 | 3,243,316 |
Shares redeemed | (255,738,433) | (234,491,744) | (2,550,573,342) | (2,357,708,085) |
Net increase (decrease) | (22,307,102) | (58,787,830) | $(223,254,340) | $(591,280,415) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Conservative Income Municipal Bond Fund | ||||||||||
Fidelity® Conservative Income Municipal Bond Fund | .35% | |||||||||
Actual | $ 1,000 | $ 1,007.20 | $ 1.77 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.44 | $ 1.79 | |||||||
Institutional Class | .25% | |||||||||
Actual | $ 1,000 | $ 1,007.70 | $ 1.27 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.95 | $ 1.28 | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Minnesota Municipal Income Fund | -7.47% | 1.01% | 1.73% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Minnesota Municipal Income Fund on December 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Revenue Sources (% of Fund's net assets) | ||
General Obligations | 39.0% | |
Health Care | 25.0% | |
Education | 10.8% | |
Electric Utilities | 6.8% | |
Transportation | 6.8% | |
Housing | 6.3% | |
Others* (Individually Less Than 5%) | 5.3% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 98.2% | |||
Principal Amount (a) | Value ($) | ||
Guam - 0.3% | |||
Guam Int'l. Arpt. Auth. Rev. Series 2013 C: | |||
6.25% 10/1/34 (b) | 515,000 | 525,875 | |
6.25% 10/1/34 (Pre-Refunded to 10/1/23 @ 100) (b) | 335,000 | 342,074 | |
Guam Pwr. Auth. Rev. Series 2022 A, 5% 10/1/44 | 1,000,000 | 1,024,941 | |
TOTAL GUAM | 1,892,890 | ||
Minnesota - 96.9% | |||
Albany Independent School District #745 (Minnesota School district Cr. Enhancement Prog.) Series 2022 A, 4.125% 2/1/41 | 1,130,000 | 1,152,021 | |
Anoka-Hennepin Independent School District 11 Series 2014 A: | |||
5% 2/1/25 | 1,015,000 | 1,036,237 | |
5% 2/1/26 | 1,220,000 | 1,245,917 | |
5% 2/1/27 | 1,285,000 | 1,311,886 | |
5% 2/1/28 | 1,345,000 | 1,372,855 | |
5% 2/1/29 | 1,415,000 | 1,443,852 | |
5% 2/1/34 | 1,800,000 | 1,834,209 | |
Chaska Elec. Rev. Series 2015 A: | |||
5% 10/1/26 | 1,000,000 | 1,061,213 | |
5% 10/1/29 | 785,000 | 830,489 | |
Chaska Independent School District #112 Gen. Oblig. (Minnesota School District Cr. Enhancement Prog.) Series 2016 A: | |||
5% 2/1/30 | 1,400,000 | 1,496,912 | |
5% 2/1/31 | 3,600,000 | 3,848,103 | |
City of Ramsey Series 2022 A: | |||
5% 12/15/29 | 670,000 | 769,136 | |
5% 12/15/30 | 665,000 | 775,844 | |
5% 12/15/31 | 740,000 | 877,245 | |
5% 12/15/32 | 775,000 | 929,909 | |
5% 12/15/33 | 565,000 | 676,147 | |
5% 12/15/34 | 455,000 | 538,652 | |
City of Virginia Series 2020 A: | |||
4% 2/1/37 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,008,735 | |
4% 2/1/39 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 996,501 | |
City of White Bear Lake (YMCA of Greater Twin Cities Proj.) Series 2018: | |||
5% 6/1/25 | 565,000 | 584,492 | |
5% 6/1/26 | 500,000 | 523,841 | |
5% 6/1/28 | 1,000,000 | 1,062,457 | |
5% 6/1/30 | 625,000 | 673,167 | |
5% 6/1/31 | 700,000 | 753,243 | |
5% 6/1/33 | 1,400,000 | 1,500,517 | |
Cloquet Independent School District #94 Series 2015 B: | |||
5% 2/1/28 | 3,030,000 | 3,153,016 | |
5% 2/1/31 | 1,245,000 | 1,292,742 | |
Ctr. City Health Care Facilities (Hazelden Betty Ford Foundation Proj.) Series 2014: | |||
5% 11/1/23 | 775,000 | 784,335 | |
5% 11/1/25 | 250,000 | 255,450 | |
5% 11/1/26 | 500,000 | 510,456 | |
5% 11/1/27 | 420,000 | 428,040 | |
Dawson-Boyd Independent School District Series 2019 A: | |||
4% 2/1/33 | 1,140,000 | 1,192,637 | |
4% 2/1/36 | 1,360,000 | 1,398,069 | |
4% 2/1/37 | 1,200,000 | 1,224,774 | |
Dilworth Gen. Oblig. Series 2022 A: | |||
3.5% 2/1/34 | 455,000 | 460,919 | |
3.5% 2/1/35 | 470,000 | 468,242 | |
3.5% 2/1/36 | 490,000 | 480,211 | |
4% 2/1/38 | 1,030,000 | 1,038,543 | |
4% 2/1/40 | 1,115,000 | 1,112,835 | |
4% 2/1/42 | 1,205,000 | 1,187,425 | |
Dilworth-Glyndon-Felton ISD No. 2164 Series 2020 A, 4% 2/1/34 | 1,000,000 | 1,038,084 | |
Duluth Econ. Dev. Auth. Series 2021 A, 4% 7/1/41 | 930,000 | 741,644 | |
Duluth Econ. Dev. Auth. Health Care Facilities Rev.: | |||
Series 2018 A: | |||
5% 2/15/43 | 1,500,000 | 1,483,421 | |
5% 2/15/48 | 3,000,000 | 2,915,291 | |
5% 2/15/58 | 3,125,000 | 3,051,926 | |
Series 2021 A: | |||
4% 6/15/32 | 535,000 | 519,141 | |
4% 6/15/35 | 550,000 | 517,063 | |
Series 2022 A: | |||
4% 6/15/37 | 1,140,000 | 1,037,792 | |
4% 6/15/38 | 400,000 | 359,332 | |
4% 6/15/39 | 250,000 | 222,031 | |
5% 6/15/23 | 300,000 | 301,996 | |
5% 6/15/25 | 565,000 | 576,719 | |
5% 6/15/26 | 360,000 | 370,742 | |
5% 6/15/28 | 935,000 | 974,570 | |
5% 6/15/29 | 775,000 | 810,594 | |
5% 6/15/31 | 1,220,000 | 1,288,114 | |
5% 6/15/33 | 1,170,000 | 1,233,786 | |
Series 2022 B: | |||
5.25% 6/15/47 | 2,500,000 | 2,530,725 | |
5.25% 6/15/52 | 1,250,000 | 1,256,967 | |
Duluth Independent School District #709 Ctfs. of Prtn. Series 2019 B: | |||
5% 2/1/24 | 400,000 | 408,284 | |
5% 2/1/25 | 375,000 | 389,687 | |
5% 2/1/26 | 395,000 | 418,382 | |
5% 2/1/27 | 370,000 | 397,199 | |
Elk River Independent School District #728: | |||
Series 2019 A, 3% 2/1/33 | 2,925,000 | 2,831,460 | |
Series 2020 A, 4% 2/1/31 | 2,120,000 | 2,205,367 | |
Forest Lake Series 2019 A, 4% 2/1/31 | 1,790,000 | 1,910,985 | |
Hennepin County Gen. Oblig.: | |||
Series 2016 A: | |||
5% 12/1/39 | 5,250,000 | 5,601,297 | |
5% 12/1/40 | 7,200,000 | 7,676,320 | |
Series 2016 B, 5% 12/1/31 | 1,155,000 | 1,253,974 | |
Series 2017 C, 5% 12/1/33 | 3,075,000 | 3,324,251 | |
Series 2019 B, 5% 12/15/39 | 3,725,000 | 4,082,038 | |
Series 2020 A, 5% 12/1/31 | 4,765,000 | 5,564,449 | |
Series 2020 C, 5% 12/15/37 | 2,500,000 | 2,796,221 | |
Itasca County (Minnesota County Cr. Enhancement Prog.) Series 2020 B, 4% 2/1/30 | 1,520,000 | 1,621,783 | |
Le Sueur-Henderson ISD No. 2397 (Minnesota School District Cr. Enhancement Prog.) Series 2022 A, 4.5% 2/1/42 | 2,495,000 | 2,569,720 | |
Maple Grove Health Care Sys. Rev.: | |||
Series 2015: | |||
4% 9/1/35 | 1,250,000 | 1,175,482 | |
5% 9/1/25 | 215,000 | 223,640 | |
5% 9/1/28 | 695,000 | 717,734 | |
5% 9/1/30 | 1,500,000 | 1,546,659 | |
5% 9/1/31 | 1,300,000 | 1,337,843 | |
5% 9/1/32 | 1,000,000 | 1,025,580 | |
Series 2017: | |||
5% 5/1/26 | 1,355,000 | 1,423,333 | |
5% 5/1/27 | 1,400,000 | 1,478,461 | |
5% 5/1/28 | 2,915,000 | 3,065,778 | |
5% 5/1/29 | 1,000,000 | 1,049,487 | |
5% 5/1/30 | 900,000 | 944,276 | |
5% 5/1/31 | 580,000 | 606,956 | |
5% 5/1/32 | 500,000 | 520,425 | |
Maple River Independent School District No. 2135 Series 2020 A, 4% 2/1/45 | 2,750,000 | 2,746,201 | |
Metropolitan Council Gen. Oblig. Rev. Series 2020 D: | |||
5% 3/1/30 | 1,295,000 | 1,499,079 | |
5% 3/1/31 | 1,355,000 | 1,594,155 | |
Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev.: | |||
Series 2014 A: | |||
5% 1/1/26 | 3,015,000 | 3,082,393 | |
5% 1/1/28 | 4,100,000 | 4,181,031 | |
5% 1/1/29 | 2,150,000 | 2,193,481 | |
5% 1/1/30 | 2,000,000 | 2,040,290 | |
5% 1/1/31 | 6,020,000 | 6,132,056 | |
Series 2016 A: | |||
5% 1/1/30 | 4,275,000 | 4,607,092 | |
5% 1/1/31 | 2,375,000 | 2,552,488 | |
5% 1/1/32 | 2,900,000 | 3,112,278 | |
Series 2016 C, 5% 1/1/46 | 4,770,000 | 4,919,533 | |
Series 2016 D: | |||
5% 1/1/27 (b) | 350,000 | 367,987 | |
5% 1/1/28 (b) | 430,000 | 451,175 | |
5% 1/1/29 (b) | 225,000 | 235,626 | |
5% 1/1/30 (b) | 480,000 | 502,525 | |
5% 1/1/31 (b) | 200,000 | 209,343 | |
5% 1/1/32 (b) | 200,000 | 209,046 | |
5% 1/1/33 (b) | 220,000 | 229,632 | |
5% 1/1/34 (b) | 225,000 | 234,398 | |
5% 1/1/35 (b) | 225,000 | 233,411 | |
5% 1/1/36 (b) | 220,000 | 227,318 | |
5% 1/1/37 (b) | 250,000 | 257,081 | |
5% 1/1/41 (b) | 725,000 | 737,269 | |
Series 2022 B: | |||
4.25% 1/1/42 (b) | 1,650,000 | 1,555,241 | |
5% 1/1/47 (b) | 1,600,000 | 1,632,024 | |
Minneapolis Health Care Sys. Rev.: | |||
Series 2015 A: | |||
5% 11/15/27 (Assured Guaranty Muni. Corp. Insured) | 850,000 | 889,341 | |
5% 11/15/28 | 1,380,000 | 1,441,807 | |
5% 11/15/29 | 1,000,000 | 1,044,582 | |
5% 11/15/30 | 1,000,000 | 1,042,475 | |
5% 11/15/31 | 3,665,000 | 3,817,090 | |
5% 11/15/32 | 2,200,000 | 2,285,903 | |
Series 2018 A: | |||
5% 11/15/34 | 3,350,000 | 3,562,427 | |
5% 11/15/35 | 2,500,000 | 2,643,527 | |
5% 11/15/36 | 2,500,000 | 2,632,956 | |
5% 11/15/49 | 4,935,000 | 5,033,474 | |
Series 2021: | |||
4% 11/15/36 | 5,410,000 | 5,322,966 | |
4% 11/15/37 | 2,550,000 | 2,488,042 | |
4% 11/15/38 | 1,785,000 | 1,727,991 | |
4% 11/15/39 | 1,265,000 | 1,213,000 | |
4% 11/15/40 | 6,000,000 | 5,693,822 | |
Minneapolis Spl. School District: | |||
(Minnesota School District Cr. Enhancement Prog.): | |||
Series 2019 A, 5% 2/1/32 | 1,125,000 | 1,254,242 | |
Series 2019 B, 5% 2/1/32 | 1,815,000 | 2,023,511 | |
(MN SD Cr. Enhancement Prog.): | |||
Series 2018 A, 5% 2/1/33 | 1,000,000 | 1,096,853 | |
Series 2018 B, 5% 2/1/33 | 3,190,000 | 3,498,961 | |
Series 2017 A, 4% 2/1/33 | 1,415,000 | 1,473,767 | |
Series 2017 B: | |||
4% 2/1/33 | 2,595,000 | 2,702,774 | |
4% 2/1/34 | 2,595,000 | 2,699,323 | |
Series 2020 B, 4% 2/1/36 | 1,745,000 | 1,803,158 | |
Series 2020 C, 4% 2/1/38 | 1,665,000 | 1,696,946 | |
Series 2021 B: | |||
5% 2/1/41 | 1,180,000 | 1,304,269 | |
5% 2/1/42 | 1,235,000 | 1,363,305 | |
Series 2021 C: | |||
5% 2/1/40 | 1,585,000 | 1,762,060 | |
5% 2/1/41 | 1,660,000 | 1,834,820 | |
5% 2/1/42 | 1,745,000 | 1,926,290 | |
Series 2022 B: | |||
5% 2/1/34 | 850,000 | 988,531 | |
5% 2/1/41 | 1,195,000 | 1,334,130 | |
5% 2/1/42 | 1,255,000 | 1,398,098 | |
5% 2/1/43 | 1,320,000 | 1,465,407 | |
Minneapolis Spl. School District #1 Ctfs. of Prtn. Series 2016 C, 5% 2/1/31 | 1,915,000 | 2,075,166 | |
Minnesota Armory Bldg. Commission Series 2021 A, 3% 6/1/38 | 1,900,000 | 1,681,741 | |
Minnesota Ctfs. Prtn. (Minnesota Gen. Oblig. Proj.) Series 2014, 5% 6/1/39 | 2,445,000 | 2,481,095 | |
Minnesota Gen. Oblig.: | |||
Series 2015 A, 5% 8/1/33 | 1,900,000 | 1,996,321 | |
Series 2017 A, 5% 10/1/33 | 3,335,000 | 3,682,366 | |
Series 2018 B, 4% 8/1/35 | 5,270,000 | 5,529,680 | |
Series 2019 A: | |||
5% 8/1/31 | 1,000,000 | 1,145,967 | |
5% 8/1/35 | 5,030,000 | 5,638,161 | |
Series 2020 A: | |||
5% 8/1/35 | 6,000,000 | 6,824,015 | |
5% 8/1/37 | 6,000,000 | 6,729,245 | |
5% 8/1/40 | 2,500,000 | 2,765,859 | |
Series 2021 A: | |||
4% 9/1/39 | 2,645,000 | 2,733,741 | |
4% 9/1/41 | 10,000,000 | 10,241,244 | |
Series 2021 B, 4% 9/1/32 | 2,000,000 | 2,185,852 | |
Minnesota Higher Ed. Facilities Auth. Rev.: | |||
(Univ. of St Thomas) Series 2017 A, 5% 10/1/29 | 760,000 | 819,641 | |
Series 2016 A, 5% 5/1/46 | 3,610,000 | 3,238,748 | |
Series 2017 A, 4% 10/1/35 | 800,000 | 806,475 | |
Series 2017: | |||
5% 3/1/31 | 1,000,000 | 1,084,283 | |
5% 10/1/31 | 590,000 | 633,691 | |
5% 3/1/34 | 530,000 | 572,633 | |
5% 10/1/34 | 440,000 | 466,834 | |
5% 10/1/35 | 555,000 | 584,832 | |
Series 2018 A: | |||
5% 10/1/34 | 1,155,000 | 1,217,383 | |
5% 10/1/35 | 500,000 | 524,068 | |
5% 10/1/45 | 3,650,000 | 3,720,964 | |
Series 2019: | |||
3% 12/1/23 | 100,000 | 99,280 | |
4% 12/1/24 | 100,000 | 100,551 | |
4% 12/1/25 | 180,000 | 181,293 | |
4% 12/1/26 | 190,000 | 191,462 | |
4% 12/1/27 | 195,000 | 196,274 | |
4% 12/1/28 | 240,000 | 241,178 | |
4% 12/1/29 | 285,000 | 285,620 | |
4% 12/1/30 | 200,000 | 200,008 | |
4% 12/1/31 | 450,000 | 447,802 | |
4% 12/1/32 | 690,000 | 682,526 | |
4% 12/1/33 | 750,000 | 735,923 | |
4% 12/1/34 | 225,000 | 218,180 | |
4% 12/1/40 | 4,100,000 | 3,719,953 | |
5% 10/1/29 | 400,000 | 444,052 | |
5% 10/1/40 | 1,000,000 | 1,049,741 | |
Series 2021: | |||
3% 3/1/40 | 365,000 | 308,773 | |
3% 3/1/43 | 325,000 | 259,387 | |
4% 3/1/24 | 205,000 | 207,518 | |
4% 10/1/24 | 440,000 | 445,793 | |
4% 3/1/25 | 175,000 | 179,118 | |
4% 10/1/25 | 585,000 | 598,432 | |
4% 3/1/26 | 100,000 | 103,658 | |
4% 10/1/26 | 600,000 | 618,818 | |
4% 10/1/28 | 675,000 | 702,551 | |
4% 10/1/29 | 460,000 | 480,098 | |
4% 3/1/30 | 150,000 | 160,895 | |
4% 3/1/31 | 250,000 | 270,148 | |
4% 3/1/32 | 140,000 | 149,947 | |
4% 3/1/33 | 390,000 | 415,904 | |
4% 3/1/34 | 150,000 | 158,568 | |
4% 3/1/35 | 125,000 | 130,864 | |
4% 3/1/36 | 125,000 | 129,531 | |
4% 3/1/37 | 100,000 | 102,682 | |
4% 10/1/46 | 1,000,000 | 942,179 | |
4% 10/1/50 | 1,000,000 | 931,757 | |
Series 2022 A: | |||
5% 10/1/47 | 1,000,000 | 1,042,662 | |
5% 10/1/52 | 1,000,000 | 1,037,328 | |
Series Eight-G, 5% 12/1/31 | 1,000,000 | 1,051,114 | |
Series Eight-J: | |||
5% 3/1/26 | 1,015,000 | 1,060,094 | |
5% 3/1/27 | 500,000 | 521,360 | |
Series Eight-L: | |||
5% 4/1/28 | 920,000 | 973,957 | |
5% 4/1/29 | 1,005,000 | 1,065,394 | |
5% 4/1/35 | 500,000 | 524,405 | |
Minnesota Hsg. Fin. Agcy.: | |||
(Mtg. Backed Securities Pass Through Prog.) Series 2019 C, 3.15% 6/1/49 | 793,055 | 757,186 | |
(Mtg.-Backed Securities Pass-Through Prog.) Series H, 2.47% 1/1/50 | 1,804,091 | 1,653,602 | |
Series 2015 A: | |||
5% 8/1/29 | 1,000,000 | 1,029,087 | |
5% 8/1/30 | 1,000,000 | 1,027,843 | |
5% 8/1/31 | 1,000,000 | 1,028,154 | |
5% 8/1/32 | 1,000,000 | 1,027,222 | |
5% 8/1/33 | 1,000,000 | 1,026,601 | |
Series 2016 B, 3.5% 7/1/46 | 2,720,000 | 2,697,949 | |
Series 2019 B, 4.25% 7/1/49 | 3,025,000 | 3,049,506 | |
Series 2020 G, 3% 1/1/51 | 1,285,000 | 1,251,683 | |
Series 2021 D, 3% 1/1/52 | 1,835,000 | 1,779,182 | |
Series 2021 H, 3% 7/1/52 | 1,220,000 | 1,179,662 | |
Series 2021, 3% 7/1/51 | 3,615,000 | 3,511,254 | |
Series 2022 M, 6% 1/1/53 | 2,500,000 | 2,731,795 | |
Series B: | |||
3.5% 7/1/50 | 7,910,000 | 7,822,534 | |
4% 8/1/36 | 2,000,000 | 2,036,402 | |
Series E, 3.5% 7/1/50 | 4,050,000 | 4,004,885 | |
Series I, 3% 1/1/51 | 4,480,000 | 4,358,854 | |
Minnesota Muni. Gas Agcy. Rev. Bonds Series 2022 A, 4%, tender 12/1/27 (Liquidity Facility Royal Bank of Canada) (c) | 7,000,000 | 7,020,161 | |
Minnesota Muni. Pwr. Agcy. Elec. Rev.: | |||
Series 2014 A, 5% 10/1/26 | 830,000 | 860,444 | |
Series 2014: | |||
5% 10/1/26 | 630,000 | 653,108 | |
5% 10/1/27 | 750,000 | 777,380 | |
5% 10/1/30 | 1,000,000 | 1,035,643 | |
Series 2016: | |||
4% 10/1/41 | 1,000,000 | 983,831 | |
5% 10/1/32 | 1,500,000 | 1,609,513 | |
5% 10/1/33 | 400,000 | 428,910 | |
5% 10/1/35 | 400,000 | 428,763 | |
5% 10/1/36 | 1,000,000 | 1,070,442 | |
5% 10/1/47 | 2,000,000 | 2,091,060 | |
Minnesota Pub. Facilities Auth. Rev. Series 2016 A, 5% 3/1/30 | 5,150,000 | 5,517,233 | |
Moorhead Edl. Facilities Rev. (The Concordia College Corp. Proj.) Series 2016, 5% 12/1/25 | 1,925,000 | 1,969,874 | |
Moorhead ISD No. 152 Series 2020 A, 4% 2/1/31 | 2,015,000 | 2,133,011 | |
Nashwauk Keewatin Independent School District # 319 Gen. Oblig. Series 2022 A: | |||
4% 2/1/35 | 200,000 | 208,594 | |
4% 2/1/36 | 500,000 | 517,641 | |
North St. Paul Maplewood-Oakdale Indpendent School District: | |||
(Minnesota School District Cr. Enhancement Prog.) Series 2019 B, 3% 2/1/42 | 3,090,000 | 2,477,272 | |
(MN SD Cr. Enhancement Prog.) Series 2019 B, 4% 2/1/32 | 3,120,000 | 3,271,508 | |
Northern Muni. Pwr. Agcy. Elec. Sys. Rev.: | |||
Series 2013 A: | |||
5% 1/1/24 | 650,000 | 650,902 | |
5% 1/1/25 | 975,000 | 976,293 | |
5% 1/1/31 | 1,740,000 | 1,742,133 | |
Series 2016: | |||
5% 1/1/28 | 500,000 | 531,946 | |
5% 1/1/29 | 920,000 | 977,147 | |
5% 1/1/30 | 520,000 | 552,147 | |
5% 1/1/31 | 350,000 | 371,534 | |
Series 2017: | |||
5% 1/1/29 | 460,000 | 494,082 | |
5% 1/1/31 | 400,000 | 427,097 | |
5% 1/1/33 | 475,000 | 503,923 | |
5% 1/1/35 | 520,000 | 548,270 | |
Ramsey County Gen. Oblig. Series 2021 A, 5% 2/1/30 | 590,000 | 678,314 | |
Red Rock Central Independent School District Series 2022 A, 2.375% 2/1/45 | 1,310,000 | 899,306 | |
Robbinsdale Independent School District 281 (MN SD Cr. Enhancement Prog.) Series 2019 B, 5% 2/1/30 | 955,000 | 1,054,480 | |
Rochester Elec. Util. Rev. Series 2017 A: | |||
5% 12/1/42 | 1,100,000 | 1,154,190 | |
5% 12/1/47 | 1,000,000 | 1,043,334 | |
Rochester Health Care Facilities Rev.: | |||
Series 2016 B: | |||
5% 11/15/31 | 3,750,000 | 4,392,260 | |
5% 11/15/33 | 300,000 | 357,912 | |
5% 11/15/35 | 4,000,000 | 4,752,115 | |
Series 2018, 4% 11/15/48 | 3,400,000 | 3,245,517 | |
Series 2022, 5% 11/15/57 | 3,500,000 | 3,749,104 | |
Roseville Independent School District Series 2021 A: | |||
5% 4/1/27 | 850,000 | 899,889 | |
5% 4/1/28 | 1,100,000 | 1,177,062 | |
Roseville Independent School District #623: | |||
(Minnesota Gen. Oblig.) Series 2018 A, 5% 2/1/31 | 5,050,000 | 5,494,706 | |
(MN School District Cr. Enhancement Prog.) Series 2018 A, 5% 2/1/29 | 5,180,000 | 5,629,094 | |
Saint Cloud Health Care Rev.: | |||
Series 2016 A: | |||
5% 5/1/29 | 1,125,000 | 1,184,399 | |
5% 5/1/30 | 1,000,000 | 1,050,959 | |
5% 5/1/31 | 1,000,000 | 1,048,811 | |
5% 5/1/46 | 5,000,000 | 5,086,944 | |
Series 2019, 5% 5/1/48 | 6,000,000 | 6,125,977 | |
Saint Paul Gen. Oblig. Series 2021 C, 4% 5/1/31 | 1,590,000 | 1,729,523 | |
Saint Paul Port Auth. District Series 2021 1: | |||
3% 10/1/26 | 100,000 | 99,008 | |
3% 10/1/34 | 285,000 | 255,889 | |
4% 10/1/41 | 500,000 | 467,633 | |
Saint Paul Sales Tax Rev. Series 2014 G: | |||
5% 11/1/26 | 1,000,000 | 1,038,104 | |
5% 11/1/28 | 1,000,000 | 1,036,295 | |
Shakopee Health Care Facilities Rev. Series 2014: | |||
5% 9/1/24 | 1,000,000 | 1,026,387 | |
5% 9/1/25 | 1,345,000 | 1,379,261 | |
5% 9/1/26 | 1,575,000 | 1,613,077 | |
5% 9/1/28 | 1,000,000 | 1,020,760 | |
5% 9/1/34 | 1,065,000 | 1,076,770 | |
Shakopee Sr. Hsg. Rev. Bonds Series 2018, 5.85%, tender 11/1/25 (c)(d) | 2,900,000 | 2,849,559 | |
Southern Minnesota Muni. Pwr. Agcy. Pwr. Supply Sys. Rev.: | |||
(Cap. Appreciation) Series 1994 A, 0% 1/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 3,320,000 | 3,010,301 | |
Series 2015 A: | |||
5% 1/1/34 | 1,695,000 | 1,795,285 | |
5% 1/1/36 | 1,000,000 | 1,055,345 | |
Series 2019 A, 5% 1/1/34 | 1,230,000 | 1,383,232 | |
St Paul Independent School District (Minnesota School District Cr. Enhancement Prog.) Series 2022 E, 4% 2/1/40 | 1,575,000 | 1,587,245 | |
St. Paul Hsg. & Redev. Auth. Health Care Facilities Rev.: | |||
(Fairview Hsp & Hltcare Srv Sys. Proj.) Series 2017 A, 5% 11/15/47 | 4,395,000 | 4,475,551 | |
Series 2015 A: | |||
5% 7/1/29 | 5,000,000 | 5,185,946 | |
5% 7/1/30 | 5,015,000 | 5,201,902 | |
Series 2017 A: | |||
5% 11/15/28 | 460,000 | 493,457 | |
5% 11/15/30 | 650,000 | 695,373 | |
5% 11/15/31 | 845,000 | 902,610 | |
5% 11/15/33 | 3,410,000 | 3,609,597 | |
5% 11/15/34 | 665,000 | 700,612 | |
Univ. of Minnesota Gen. Oblig.: | |||
Series 2017 A: | |||
5% 9/1/33 | 5,025,000 | 5,506,151 | |
5% 9/1/37 | 3,880,000 | 4,186,600 | |
Series 2017 B, 5% 12/1/32 | 2,000,000 | 2,204,867 | |
Series 2019 A, 5% 4/1/44 | 5,000,000 | 5,394,486 | |
Series 2020 A: | |||
5% 11/1/31 | 1,070,000 | 1,229,305 | |
5% 11/1/33 | 1,015,000 | 1,155,480 | |
5% 11/1/45 | 6,050,000 | 6,554,460 | |
Wayzata Sr Hsg. Rev. Series 2019: | |||
5% 8/1/49 | 500,000 | 468,584 | |
5% 8/1/54 | 1,000,000 | 918,452 | |
West Saint Paul Independent School District #197 (Minnesota School District Cr. Enhancement Prog.) Series 2018 A, 4% 2/1/41 | 2,400,000 | 2,416,855 | |
Western Minnesota Muni. Pwr. Agcy. Pwr. Supply Rev.: | |||
Series 2012 A: | |||
5% 1/1/27 | 2,150,000 | 2,150,000 | |
5% 1/1/30 | 1,000,000 | 1,000,000 | |
Series 2015 A, 5% 1/1/31 | 1,820,000 | 1,934,127 | |
Series 2018 A, 5% 1/1/49 | 2,000,000 | 2,112,190 | |
White Bear Lake Independent School District #624 Gen. Oblig.: | |||
Series 2020 A, 3% 2/1/31 | 930,000 | 916,014 | |
Series 2022 A, 4% 2/1/32 | 4,795,000 | 5,135,821 | |
Wright County Ctfs. of Prtn. Series 2019 A: | |||
5% 12/1/30 | 1,115,000 | 1,265,917 | |
5% 12/1/31 | 1,000,000 | 1,132,895 | |
TOTAL MINNESOTA | 554,841,629 | ||
Puerto Rico - 1.0% | |||
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 1,705,673 | 922,020 | |
5.625% 7/1/27 | 190,000 | 193,585 | |
5.625% 7/1/29 | 595,000 | 608,812 | |
5.75% 7/1/31 | 1,420,000 | 1,468,235 | |
Puerto Rico Hsg. Fin. Auth. Series 2020, 5% 12/1/27 | 1,225,000 | 1,317,927 | |
Puerto Rico Indl., Tourist, Edl., Med. And Envir. Cont. Facilities Fing. Auth. Series 2021: | |||
4% 7/1/36 | 105,000 | 96,119 | |
4% 7/1/41 | 85,000 | 74,114 | |
5% 7/1/27 | 325,000 | 345,804 | |
5% 7/1/30 | 140,000 | 153,284 | |
5% 7/1/32 | 380,000 | 415,196 | |
TOTAL PUERTO RICO | 5,595,096 | ||
TOTAL MUNICIPAL BONDS (Cost $590,034,280) | 562,329,615 | ||
TOTAL INVESTMENT IN SECURITIES - 98.2% (Cost $590,034,280) | 562,329,615 |
NET OTHER ASSETS (LIABILITIES) - 1.8% | 10,537,914 |
NET ASSETS - 100.0% | 572,867,529 |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(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 $2,849,559 or 0.5% of net assets. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 562,329,615 | - | 562,329,615 | - |
Total Investments in Securities: | 562,329,615 | - | 562,329,615 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $590,034,280): | $ | 562,329,615 | ||
Cash | 285,730 | |||
Receivable for investments sold | 3,564,799 | |||
Receivable for fund shares sold | 1,294,459 | |||
Interest receivable | 7,383,085 | |||
Prepaid expenses | 617 | |||
Other receivables | 1,802 | |||
Total assets | 574,860,107 | |||
Liabilities | ||||
Payable for fund shares redeemed | $1,294,844 | |||
Distributions payable | 415,214 | |||
Accrued management fee | 170,140 | |||
Other affiliated payables | 63,797 | |||
Other payables and accrued expenses | 48,583 | |||
Total Liabilities | 1,992,578 | |||
Net Assets | $ | 572,867,529 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 603,813,576 | ||
Total accumulated earnings (loss) | (30,946,047) | |||
Net Assets | $ | 572,867,529 | ||
Net Asset Value , offering price and redemption price per share ($572,867,529 ÷ 52,660,948 shares) | $ | 10.88 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 15,736,703 | ||
Expenses | ||||
Management fee | $ | 2,131,132 | ||
Transfer agent fees | 649,744 | |||
Accounting fees and expenses | 147,067 | |||
Custodian fees and expenses | 7,823 | |||
Independent trustees' fees and expenses | 1,991 | |||
Registration fees | 95,178 | |||
Audit | 52,492 | |||
Legal | 11,592 | |||
Miscellaneous | 2,782 | |||
Total expenses before reductions | 3,099,801 | |||
Expense reductions | (18,903) | |||
Total expenses after reductions | 3,080,898 | |||
Net Investment income (loss) | 12,655,805 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,615,939) | |||
Total net realized gain (loss) | (3,615,939) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (60,238,095) | |||
Net gain (loss) | (63,854,034) | |||
Net increase (decrease) in net assets resulting from operations | $ | (51,198,229) |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,655,805 | $ | 12,859,823 |
Net realized gain (loss) | (3,615,939) | 2,226,424 | ||
Change in net unrealized appreciation (depreciation) | (60,238,095) | (10,574,900) | ||
Net increase (decrease) in net assets resulting from operations | (51,198,229) | 4,511,347 | ||
Distributions to shareholders | (12,925,960) | (14,402,199) | ||
Share transactions | ||||
Proceeds from sales of shares | 282,521,007 | 123,394,600 | ||
Reinvestment of distributions | 8,361,606 | 9,630,543 | ||
Cost of shares redeemed | (352,961,319) | (97,551,678) | ||
Net increase (decrease) in net assets resulting from share transactions | (62,078,706) | 35,473,465 | ||
Total increase (decrease) in net assets | (126,202,895) | 25,582,613 | ||
Net Assets | ||||
Beginning of period | 699,070,424 | 673,487,811 | ||
End of period | $ | 572,867,529 | $ | 699,070,424 |
Other Information | ||||
Shares | ||||
Sold | 25,812,038 | 10,200,980 | ||
Issued in reinvestment of distributions | 756,599 | 797,769 | ||
Redeemed | (32,118,809) | (8,073,881) | ||
Net increase (decrease) | (5,550,172) | 2,924,868 | ||
Fidelity® Minnesota Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 12.01 | $ | 12.18 | $ | 11.91 | $ | 11.41 | $ | 11.64 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .230 | .227 | .251 | .280 | .282 | |||||
Net realized and unrealized gain (loss) | (1.126) | (.143) | .296 | .525 | (.211) | |||||
Total from investment operations | (.896) | .084 | .547 | .805 | .071 | |||||
Distributions from net investment income | (.229) | (.222) | (.251) | (.280) | (.282) | |||||
Distributions from net realized gain | (.005) | (.032) | (.026) | (.025) | (.019) | |||||
Total distributions | (.234) | (.254) | (.277) | (.305) | (.301) | |||||
Net asset value, end of period | $ | 10.88 | $ | 12.01 | $ | 12.18 | $ | 11.91 | $ | 11.41 |
Total Return C | (7.47)% | .70% | 4.65% | 7.12% | .65% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .51% | .49% | .49% | .49% | .50% | |||||
Expenses net of fee waivers, if any | .50% | .49% | .49% | .49% | .50% | |||||
Expenses net of all reductions | .50% | .48% | .49% | .49% | .49% | |||||
Net investment income (loss) | 2.07% | 1.88% | 2.09% | 2.38% | 2.48% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 572,868 | $ | 699,070 | $ | 673,488 | $ | 593,754 | $ | 523,096 |
Portfolio turnover rate F | 17% | 7% | 9% | 9% | 14% |
Gross unrealized appreciation | $1,249,685 |
Gross unrealized depreciation | (28,934,764) |
Net unrealized appreciation (depreciation) | $(27,685,079) |
Tax Cost | $590,014,694 |
Undistributed tax-exempt income | $354,971 |
Capital loss carryforward | $(3,615,939) |
Net unrealized appreciation (depreciation) on securities and other investments | $(27,685,079) |
Short-term | $(728,872) |
Long-term | (2,887,067) |
Total capital loss carryforward | $(3,615,939) |
December 31, 2022 | December 31, 2021 | |
Tax-exempt Income | $12,636,975 | $12,553,166 |
Long-term Capital Gains | 288,985 | 1,849,033 |
Total | $12,925,960 | $14,402,199 |
Purchases ($) | Sales ($) | |
Fidelity Minnesota Municipal Income Fund | 99,999,084 | 147,274,934 |
% of Average Net Assets | |
Fidelity Minnesota Municipal Income Fund | .02 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Minnesota Municipal Income Fund | - | 4,910,000 | - |
Amount | |
Fidelity Minnesota Municipal Income Fund | $1,090 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Minnesota Municipal Income Fund | .50% | |||||||||
Actual | $ 1,000 | $ 1,006.50 | $ 2.53 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.68 | $ 2.55 | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity Flex® Municipal Income Fund | -8.63% | 1.13% | 1.24% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Municipal Income Fund, on October 12, 2017, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Top Five States (% of Fund's net assets) | |
Illinois | 12.2 |
Pennsylvania | 8.3 |
New York | 6.7 |
Connecticut | 6.2 |
Georgia | 5.3 |
Revenue Sources (% of Fund's net assets) | ||
General Obligations | 23.7% | |
Transportation | 18.7% | |
Health Care | 13.2% | |
Education | 9.5% | |
Housing | 9.3% | |
Special Tax | 7.7% | |
Others* (Individually Less Than 5%) | 17.9% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 96.3% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.3% | |||
Auburn Univ. Gen. Fee Rev. Series 2018 A, 5% 6/1/43 | 100,000 | 106,427 | |
Homewood Edl. Bldg. Auth. Rev. Series 2019 A: | |||
4% 12/1/33 | 110,000 | 111,149 | |
4% 12/1/41 | 85,000 | 78,074 | |
4% 12/1/49 | 190,000 | 164,529 | |
Jefferson County Gen. Oblig. Series 2018 A, 5% 4/1/26 | 100,000 | 106,603 | |
Lower Alabama Gas District Bonds (No. 2 Proj.) Series 2020, 4%, tender 12/1/25 (b) | 1,095,000 | 1,086,342 | |
Montgomery Med. Clinic Facilities Series 2015, 5% 3/1/36 | 425,000 | 394,318 | |
TOTAL ALABAMA | 2,047,442 | ||
Alaska - 0.2% | |||
Alaska Hsg. Fin. Corp. Series 2021 A, 4% 12/1/29 | 845,000 | 893,393 | |
Alaska Hsg. Fin. Corp. Mtg. Rev. Series 2022 A, 3% 6/1/51 | 205,000 | 197,775 | |
TOTAL ALASKA | 1,091,168 | ||
Arizona - 2.8% | |||
Arizona Health Facilities Auth. Rev. (Scottsdale Lincoln Hospitals Proj.) Series 2014 A, 5% 12/1/39 | 185,000 | 187,999 | |
Arizona Indl. Dev. Auth. Hosp. Rev. Series 2021 A, 5% 2/1/28 | 1,000,000 | 1,099,765 | |
Arizona Indl. Dev. Auth. Lease Rev. Series 2020 A, 4% 9/1/46 | 1,750,000 | 1,652,618 | |
Arizona Indl. Dev. Auth. Rev. (Provident Group-Eastern Michigan Univ. Parking Proj.) Series 2018: | |||
5% 5/1/26 | 450,000 | 401,978 | |
5% 5/1/29 | 290,000 | 246,781 | |
5% 5/1/33 | 565,000 | 447,771 | |
Arizona State Lottery Rev. Series 2019, 5% 7/1/23 (Escrowed to Maturity) | 415,000 | 419,114 | |
Bullhead City Excise Taxes Series 2021 2: | |||
0.95% 7/1/26 | 250,000 | 227,625 | |
1.15% 7/1/27 | 375,000 | 336,308 | |
1.3% 7/1/28 | 485,000 | 428,871 | |
1.5% 7/1/29 | 600,000 | 527,423 | |
1.65% 7/1/30 | 825,000 | 713,416 | |
1.7% 7/1/31 | 450,000 | 382,141 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev.: | |||
(Intel Corp. Proj.) Series 2022 2, 5%, tender 9/1/27 (b)(c) | 1,855,000 | 1,935,830 | |
Bonds (Intel Corp. Proj.): | |||
Series 2005, 2.4%, tender 8/14/23 (b) | 65,000 | 64,495 | |
Series 2007, 2.7%, tender 8/14/23 (b)(c) | 600,000 | 596,060 | |
Series 2019, 5%, tender 6/3/24 (b)(c) | 1,980,000 | 2,011,567 | |
Glendale Union School District 205 Series A: | |||
4% 7/1/36 (Assured Guaranty Muni. Corp. Insured) | 545,000 | 557,657 | |
4% 7/1/37 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,012,734 | |
Glendale Indl. Dev. Auth. (Terraces of Phoenix Proj.) Series 2018 A: | |||
5% 7/1/38 | 10,000 | 8,726 | |
5% 7/1/48 | 10,000 | 8,102 | |
Maricopa County Indl. Dev. Auth.: | |||
(Creighton Univ. Proj.) Series 2020, 5% 7/1/47 | 100,000 | 104,716 | |
Series 2021 A, 4% 9/1/51 | 775,000 | 690,310 | |
Maricopa County Indl. Dev. Auth. Sr. Living Facilities Series 2016: | |||
5.75% 1/1/36 (d) | 300,000 | 232,503 | |
6% 1/1/48 (d) | 300,000 | 210,852 | |
Maricopa County Rev.: | |||
Series 2017 D, 3% 1/1/48 | 840,000 | 618,952 | |
Series 2019 E, 3% 1/1/49 | 500,000 | 365,859 | |
Phoenix Civic Impt. Board Arpt. Rev. Series 2019 B, 5% 7/1/35 (c) | 300,000 | 316,597 | |
Phoenix Civic Impt. Corp. Wtr. Sys. Rev. Series 2021 A, 5% 7/1/45 | 1,000,000 | 1,084,937 | |
Western Maricopa Ed. Ctr. District Series 2019 B, 5% 7/1/24 | 190,000 | 195,907 | |
TOTAL ARIZONA | 17,087,614 | ||
California - 4.9% | |||
California Edl. Facilities Auth. Rev. Series T1, 5% 3/15/39 | 65,000 | 76,126 | |
California Gen. Oblig.: | |||
Series 2020, 4% 11/1/37 | 1,000,000 | 1,018,765 | |
Series 2021: | |||
5% 9/1/32 | 2,175,000 | 2,563,568 | |
5% 10/1/41 | 5,435,000 | 5,996,970 | |
California Hsg. Fin. Agcy. Series 2021 1, 3.5% 11/20/35 | 194,881 | 176,265 | |
California Pub. Works Board Lease Rev. (Various Cap. Projs.): | |||
Series 2021 B, 4% 5/1/46 | 1,265,000 | 1,215,859 | |
Series 2022 C, 5% 8/1/32 | 285,000 | 335,321 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2015, 5% 2/1/45 | 105,000 | 77,433 | |
Los Angeles Dept. Arpt. Rev. Series F, 5% 5/15/44 (c) | 175,000 | 178,937 | |
Los Angeles Dept. of Wtr. & Pwr. Rev.: | |||
Series 2021 B, 5% 7/1/51 | 1,550,000 | 1,657,591 | |
Series B, 5% 7/1/50 | 1,070,000 | 1,141,462 | |
Los Angeles Hbr. Dept. Rev. Series 2019 A: | |||
5% 8/1/24 (c) | 310,000 | 319,500 | |
5% 8/1/25 (c) | 110,000 | 115,075 | |
Middle Fork Proj. Fin. Auth. Series 2020, 5% 4/1/26 | 1,000,000 | 1,046,424 | |
Mount Diablo Unified School District Series 2022 B: | |||
4% 8/1/31 | 225,000 | 244,676 | |
4% 8/1/34 | 320,000 | 339,980 | |
Sacramento County Arpt. Sys. Rev. Series 2018 C, 5% 7/1/39 (c) | 105,000 | 108,322 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Series 2019 A, 5% 7/1/49 | 500,000 | 524,063 | |
San Diego County Wtr. Auth. Fing. Agcy. Wtr. Rev. Series 2022 A: | |||
5% 5/1/47 | 635,000 | 701,461 | |
5% 5/1/52 | 1,080,000 | 1,185,866 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
Series 2018 G, 5% 5/1/27 (c) | 560,000 | 591,614 | |
Series 2019 A, 5% 5/1/49 (c) | 3,000,000 | 3,037,634 | |
Series 2019 B, 5% 5/1/49 | 45,000 | 47,473 | |
Series 2022 A: | |||
5% 5/1/26 (c) | 815,000 | 855,577 | |
5% 5/1/27 (c) | 830,000 | 879,247 | |
5% 5/1/28 (c) | 1,105,000 | 1,179,099 | |
5% 5/1/29 (c) | 740,000 | 795,131 | |
Series 2022 B, 5% 5/1/52 | 2,240,000 | 2,404,816 | |
Univ. of California Revs.: | |||
Series 2018 AZ, 5% 5/15/43 | 130,000 | 138,552 | |
Series 2023 BM, 5% 5/15/36 (e) | 180,000 | 209,503 | |
Washington Township Health Care District Rev.: | |||
Series 2017 A, 5% 7/1/35 | 190,000 | 193,878 | |
Series 2017 B: | |||
5% 7/1/29 | 115,000 | 119,302 | |
5% 7/1/30 | 230,000 | 238,541 | |
TOTAL CALIFORNIA | 29,714,031 | ||
Colorado - 2.4% | |||
Arkansas River Pwr. Auth. Rev. Series 2018 A: | |||
5% 10/1/38 | 40,000 | 40,058 | |
5% 10/1/43 | 50,000 | 48,997 | |
Colorado Health Facilities Auth. Rev. Bonds Series 2016 C, 5%, tender 11/15/26 (b) | 275,000 | 291,559 | |
Colorado Health Facilities Auth. Rev. Bonds: | |||
(Parkview Med. Ctr., Inc. Proj.) Series 2016, 4% 9/1/35 | 35,000 | 34,043 | |
Bonds Series 2019 B: | |||
5%, tender 8/1/26 (b) | 110,000 | 114,864 | |
5%, tender 11/19/26 (b) | 20,000 | 21,562 | |
5%, tender 11/19/26 (b) | 190,000 | 201,259 | |
Series 2019 A: | |||
5% 11/1/25 | 435,000 | 457,026 | |
5% 11/15/39 | 190,000 | 204,413 | |
Series 2019 A1, 4% 8/1/44 | 1,060,000 | 913,792 | |
Series 2019 A2: | |||
3.25% 8/1/49 | 600,000 | 424,643 | |
4% 8/1/49 | 1,715,000 | 1,438,400 | |
5% 8/1/44 | 845,000 | 846,498 | |
Series 2020 A: | |||
4% 9/1/45 | 775,000 | 675,406 | |
4% 9/1/50 | 210,000 | 171,362 | |
Colorado Hsg. & Fin. Auth.: | |||
Series 2019 F, 4.25% 11/1/49 | 60,000 | 60,533 | |
Series 2019 H, 4.25% 11/1/49 | 25,000 | 25,237 | |
Colorado Reg'l. Trans. District Ctfs. of Prtn. Series 2020, 5% 6/1/31 | 105,000 | 117,249 | |
Colorado Reg'l. Trans. District Sales Tax Rev. (Fastracks Proj.) Series 2021 B, 5% 11/1/28 | 725,000 | 815,739 | |
Denver City & County Arpt. Rev.: | |||
Series 2017 A, 5% 11/15/26 (c) | 50,000 | 52,862 | |
Series 2018 A, 5% 12/1/34 (c) | 1,125,000 | 1,235,408 | |
Denver City & County Board Wtr. Rev.: | |||
Series 2020 A: | |||
5% 9/15/45 | 1,190,000 | 1,299,458 | |
5% 9/15/46 | 1,820,000 | 1,983,518 | |
Series 2020 B, 5% 9/15/28 | 2,000,000 | 2,256,544 | |
Univ. of Colorado Enterprise Sys. Rev. Bonds: | |||
Series 2021 C3A, 2%, tender 10/15/25 (b) | 255,000 | 247,476 | |
Series 2021 C3B, 2%, tender 10/15/26 (b) | 210,000 | 201,272 | |
Vauxmont Metropolitan District: | |||
Series 2019, 5% 12/15/25 (Assured Guaranty Muni. Corp. Insured) | 40,000 | 42,393 | |
Series 2020, 5% 12/1/30 (Assured Guaranty Muni. Corp. Insured) | 220,000 | 243,949 | |
TOTAL COLORADO | 14,465,520 | ||
Connecticut - 6.2% | |||
Bridgeport Gen. Oblig. Series 2021 A: | |||
5% 8/1/32 | 300,000 | 340,903 | |
5% 8/1/33 | 800,000 | 906,050 | |
5% 8/1/34 | 500,000 | 561,075 | |
Connecticut Gen. Oblig.: | |||
Series 2016 B: | |||
5% 5/15/25 | 220,000 | 231,683 | |
5% 5/15/26 | 125,000 | 134,380 | |
Series 2016 D, 5% 8/15/25 | 210,000 | 222,392 | |
Series 2018 F: | |||
5% 9/15/24 | 100,000 | 103,751 | |
5% 9/15/25 | 100,000 | 106,098 | |
Series 2019 A: | |||
4% 4/15/37 | 1,800,000 | 1,807,492 | |
5% 4/15/26 | 115,000 | 123,426 | |
Series 2020 A, 4% 1/15/34 | 300,000 | 312,331 | |
Series 2021 A: | |||
3% 1/15/35 | 1,150,000 | 1,059,267 | |
3% 1/15/37 | 1,910,000 | 1,682,932 | |
3% 1/15/39 | 215,000 | 182,543 | |
Series 2021 B, 5% 6/1/41 | 1,125,000 | 1,216,163 | |
Series 2021 D, 5% 7/15/24 | 260,000 | 268,710 | |
Series 2022 B, 4% 1/15/37 | 2,480,000 | 2,494,387 | |
Series 2022 C: | |||
4% 6/15/39 | 300,000 | 293,867 | |
4% 6/15/41 | 250,000 | 238,774 | |
5% 6/15/30 | 400,000 | 457,438 | |
5% 6/15/31 | 500,000 | 577,048 | |
5% 6/15/34 | 350,000 | 400,566 | |
5% 6/15/37 | 250,000 | 277,786 | |
5% 6/15/38 | 300,000 | 331,883 | |
5% 6/15/40 | 500,000 | 547,424 | |
5% 6/15/42 | 500,000 | 543,481 | |
Series 2022 D, 5% 9/15/30 | 650,000 | 746,059 | |
Series 2022: | |||
5% 6/15/28 | 500,000 | 556,168 | |
5% 6/15/29 | 410,000 | 462,617 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
Bonds Series 2020 B: | |||
5%, tender 1/1/25 (b) | 200,000 | 207,312 | |
5%, tender 1/1/27 (b) | 330,000 | 350,363 | |
Series 2018 K1: | |||
5% 7/1/26 | 680,000 | 689,268 | |
5% 7/1/28 | 1,120,000 | 1,140,745 | |
Series 2019 A, 5% 7/1/49 (d) | 130,000 | 108,263 | |
Series 2019 Q-1: | |||
5% 11/1/25 | 90,000 | 95,434 | |
5% 11/1/26 | 95,000 | 102,689 | |
Series 2020 K, 4% 7/1/45 | 1,000,000 | 915,126 | |
Series 2021 G: | |||
4% 3/1/46 | 235,000 | 218,868 | |
4% 3/1/51 | 380,000 | 348,045 | |
Series 2021 S, 4% 6/1/51 | 240,000 | 209,739 | |
Series 2022 M: | |||
4% 7/1/39 | 415,000 | 382,994 | |
4% 7/1/52 | 355,000 | 317,166 | |
Series A, 5% 7/1/26 | 160,000 | 164,556 | |
Series K1: | |||
5% 7/1/27 | 1,100,000 | 1,118,591 | |
5% 7/1/30 | 1,000,000 | 1,015,984 | |
5% 7/1/34 | 725,000 | 729,516 | |
5% 7/1/36 | 450,000 | 446,275 | |
5% 7/1/39 | 490,000 | 473,650 | |
Series K3, 5% 7/1/43 | 215,000 | 204,214 | |
Series L1: | |||
4% 7/1/28 | 750,000 | 754,993 | |
4% 7/1/29 | 750,000 | 754,696 | |
4% 7/1/30 | 1,000,000 | 1,004,076 | |
Series N: | |||
5% 7/1/25 | 390,000 | 395,037 | |
5% 7/1/26 | 575,000 | 585,063 | |
5% 7/1/27 | 430,000 | 438,491 | |
Series R, 5% 6/1/36 | 900,000 | 980,091 | |
Connecticut Hsg. Fin. Auth.: | |||
Series 2021 B1, 3% 11/15/49 | 310,000 | 300,342 | |
Series 2022 A1: | |||
5% 11/15/26 | 200,000 | 214,444 | |
5% 5/15/27 | 220,000 | 237,318 | |
5% 11/15/27 | 230,000 | 249,995 | |
5% 5/15/28 | 225,000 | 245,807 | |
5% 11/15/28 | 220,000 | 241,437 | |
5% 5/15/29 | 225,000 | 248,568 | |
5% 11/15/29 | 125,000 | 138,333 | |
5% 5/15/30 | 375,000 | 417,503 | |
5% 11/15/30 | 175,000 | 195,726 | |
Series 2022 A2: | |||
5% 5/15/23 (c) | 500,000 | 502,753 | |
5% 11/15/23 (c) | 670,000 | 679,198 | |
5% 5/15/24 (c) | 595,000 | 607,743 | |
5% 11/15/24 (c) | 965,000 | 994,496 | |
5% 5/15/25 (c) | 400,000 | 414,904 | |
5% 11/15/25 (c) | 300,000 | 313,740 | |
5% 5/15/26 (c) | 425,000 | 447,084 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev. Series 2012 A, 5% 1/1/24 | 80,000 | 80,000 | |
Univ. of Connecticut Gen. Oblig. Series 2019 A, 5% 11/1/25 | 140,000 | 148,806 | |
TOTAL CONNECTICUT | 38,016,136 | ||
District Of Columbia - 0.5% | |||
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev.: | |||
(Dulles Metrorail and Cap. Impt. Proj.) Series 2019 B, 3% 10/1/50 (Assured Guaranty Muni. Corp. Insured) | 890,000 | 635,822 | |
(Dulles Metrorail and Cap. Impt. Projs.) Series 2019 A: | |||
5% 10/1/31 | 185,000 | 202,240 | |
5% 10/1/44 | 1,000,000 | 1,044,663 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev.: | |||
Series 2017 A, 5% 10/1/26 (c) | 440,000 | 464,444 | |
Series 2019 A, 5% 10/1/25 (c) | 70,000 | 73,057 | |
Series 2020 A: | |||
5% 10/1/26 (c) | 320,000 | 337,778 | |
5% 10/1/27 (c) | 110,000 | 117,092 | |
5% 10/1/28 (c) | 55,000 | 58,944 | |
Washington Convention & Sports Auth. Series 2018 A: | |||
5% 10/1/23 | 100,000 | 101,448 | |
5% 10/1/24 | 100,000 | 103,616 | |
5% 10/1/25 | 100,000 | 106,094 | |
TOTAL DISTRICT OF COLUMBIA | 3,245,198 | ||
Florida - 4.5% | |||
Atlantic Beach Health Care Facilities Series A, 5% 11/15/43 | 255,000 | 242,309 | |
Broward County Arpt. Sys. Rev.: | |||
Series 2015 C, 5% 10/1/24 (c) | 45,000 | 46,233 | |
Series 2017, 5% 10/1/42 (c) | 1,365,000 | 1,391,955 | |
Series 2019 A, 5% 10/1/49 (c) | 1,000,000 | 1,013,244 | |
Broward County School Board Ctfs. of Prtn.: | |||
Series 2015 A, 5% 7/1/23 | 50,000 | 50,442 | |
Series 2016, 5% 7/1/26 | 230,000 | 247,012 | |
Cap. Projs. Fin. Auth. Student Hsg. Rev. (Cap. Projs. Ln. Prog. - Florida Univs.) Series 2020 A, 5% 10/1/30 | 500,000 | 507,012 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Series 2020 A: | |||
3% 8/15/50 (Assured Guaranty Muni. Corp. Insured) | 485,000 | 340,807 | |
4% 8/15/45 | 110,000 | 95,706 | |
Florida Dev. Fin. Corp. Healthcare Facility Rev. Series 2021, 4% 11/15/38 | 725,000 | 683,451 | |
Florida Higher Edl. Facilities Fing. Auth. (St. Leo Univ. Proj.) Series 2019, 5% 3/1/24 | 390,000 | 391,585 | |
Florida Hsg. Fin. Corp. Rev. Series 2019 1, 4% 7/1/50 | 135,000 | 135,194 | |
Florida Mid-Bay Bridge Auth. Rev. Series 2015 A: | |||
5% 10/1/27 | 105,000 | 107,336 | |
5% 10/1/29 | 80,000 | 81,674 | |
5% 10/1/30 | 70,000 | 71,417 | |
Fort Pierce Utils. Auth. Series 2022 A: | |||
5% 10/1/30 (Assured Guaranty Muni. Corp. Insured) | 175,000 | 198,392 | |
5% 10/1/34 (Assured Guaranty Muni. Corp. Insured) | 300,000 | 341,145 | |
5% 10/1/36 (Assured Guaranty Muni. Corp. Insured) | 475,000 | 531,110 | |
5% 10/1/37 (Assured Guaranty Muni. Corp. Insured) | 425,000 | 471,976 | |
5% 10/1/39 (Assured Guaranty Muni. Corp. Insured) | 475,000 | 522,806 | |
5% 10/1/40 (Assured Guaranty Muni. Corp. Insured) | 450,000 | 493,383 | |
5% 10/1/41 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 438,015 | |
5% 10/1/42 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 438,042 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | |||
Series 2017 A, 5% 10/1/31 (c) | 125,000 | 131,673 | |
Series 2019 A: | |||
5% 10/1/23 (c) | 300,000 | 303,614 | |
5% 10/1/24 (c) | 300,000 | 308,732 | |
5% 10/1/25 (c) | 300,000 | 313,103 | |
5% 10/1/32 (c) | 300,000 | 322,184 | |
5% 10/1/38 (c) | 430,000 | 449,243 | |
5% 10/1/54 (c) | 1,620,000 | 1,642,617 | |
Hillsborough County Aviation Auth. Rev. Series 2022 A, 5% 10/1/26 (c) | 2,750,000 | 2,902,777 | |
Lee Memorial Health Sys. Hosp. Rev. Series 2019 A1, 5% 4/1/44 | 665,000 | 677,893 | |
Miami-Dade County Aviation Rev.: | |||
Series 2015 A: | |||
5% 10/1/27 (c) | 620,000 | 640,617 | |
5% 10/1/38 (c) | 80,000 | 81,182 | |
Series 2016 A, 5% 10/1/29 | 145,000 | 155,601 | |
Series 2017 B, 5% 10/1/40 (c) | 810,000 | 823,067 | |
Series 2020 A: | |||
4% 10/1/40 | 300,000 | 285,112 | |
5% 10/1/25 | 245,000 | 259,464 | |
Miami-Dade County Expressway Auth. Series 2014 A, 5% 7/1/25 | 395,000 | 405,241 | |
Miami-Dade County School Board Ctfs. of Prtn.: | |||
Bonds Series 2014 A, 5%, tender 5/1/24 (b) | 100,000 | 102,610 | |
Series 2015 A, 5% 5/1/28 | 290,000 | 301,470 | |
Series 2015 D, 5% 2/1/26 | 10,000 | 10,628 | |
Miami-Dade County Wtr. & Swr. Rev. Series 2021, 5% 10/1/32 | 155,000 | 177,876 | |
Orange County Health Facilities Auth. Series 2016 A, 5% 10/1/39 | 60,000 | 61,671 | |
Orange County Hsg. Fin. Auth. Multi-family Rev. Bonds Series 2021 B, 0.55%, tender 7/1/24 (b) | 1,600,000 | 1,512,967 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. (Jupiter Med. Ctr. Proj.) Series 2022: | |||
5% 11/1/29 | 175,000 | 187,158 | |
5% 11/1/32 | 200,000 | 214,747 | |
5% 11/1/34 | 310,000 | 326,249 | |
5% 11/1/37 | 385,000 | 396,997 | |
5% 11/1/39 | 400,000 | 409,454 | |
5% 11/1/41 | 400,000 | 407,385 | |
Palm Beach County Health Facilities Auth. Rev. Series 2015 C, 5% 5/15/30 | 495,000 | 478,402 | |
Pinellas County Hsg. Fin. Auth. Bonds Series 2021 B, 0.65%, tender 7/1/24 (b) | 365,000 | 345,667 | |
South Miami Health Facilities Auth. Hosp. Rev. (Baptist Med. Ctr., FL. Proj.) Series 2017: | |||
5% 8/15/26 | 100,000 | 106,150 | |
5% 8/15/42 | 5,000 | 5,099 | |
Tallahassee Health Facilities Rev.: | |||
(Tallahassee Memorial Healthcare, Inc. Proj.) Series 2016 A, 5% 12/1/26 | 100,000 | 103,926 | |
Series 2015 A, 5% 12/1/40 | 410,000 | 413,350 | |
Tampa Hosp. Rev.: | |||
(H Lee Moffitt Cancer Ctr. Proj.) Series 2016 B, 5% 7/1/29 | 25,000 | 26,248 | |
(H. Lee Moffitt Cancer Ctr. Proj.) Series 2020 B: | |||
4% 7/1/39 | 1,000,000 | 976,828 | |
4% 7/1/45 | 825,000 | 746,391 | |
Tampa Tax Allocation (H. Lee Moffitt Cancer Ctr. Proj.) Series 2020 A: | |||
0% 9/1/34 | 700,000 | 429,264 | |
0% 9/1/35 | 750,000 | 434,916 | |
0% 9/1/36 | 800,000 | 439,262 | |
Volusia County Edl. Facilities Auth. Rev. (Embry-Riddle Aeronautical Univ., Inc. Proj.) Series 2020 A: | |||
5% 10/15/44 | 30,000 | 31,244 | |
5% 10/15/49 | 60,000 | 62,063 | |
TOTAL FLORIDA | 27,250,388 | ||
Georgia - 5.3% | |||
Atlanta Arpt. Rev.: | |||
Series 2014 C, 5% 1/1/29 (c) | 140,000 | 141,802 | |
Series 2019 B, 5% 7/1/25 (c) | 60,000 | 62,367 | |
Brookhaven Dev. Auth. Rev. Series 2019 A, 5% 7/1/36 | 150,000 | 164,282 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev.: | |||
(Georgia Transmission Corp. Proj.) Series 2012, 2.75% 1/1/52 (b) | 610,000 | 396,924 | |
Bonds (Georgia Pwr. Co. Plant Vogtle Proj.): | |||
Series 1994: | |||
2.15%, tender 6/13/24 (b) | 1,140,000 | 1,112,691 | |
2.25%, tender 5/25/23 (b) | 315,000 | 313,238 | |
Series 2013 1st, 2.925%, tender 3/12/24 (b) | 330,000 | 326,264 | |
DeKalb Private Hosp. Auth. Rev. Series 2019 B, 5% 7/1/27 | 210,000 | 230,122 | |
Fulton County Dev. Auth. Rev. Series 2019, 4% 6/15/49 | 40,000 | 37,374 | |
Gainesville & Hall County Hosp. Auth. Rev. Series 2020 A, 3% 2/15/47 | 1,895,000 | 1,360,433 | |
Georgia Muni. Elec. Auth. Pwr. Rev.: | |||
Series 2019 A: | |||
4% 1/1/49 | 245,000 | 214,384 | |
5% 1/1/23 | 450,000 | 450,000 | |
5% 1/1/26 | 165,000 | 173,649 | |
5% 1/1/30 | 55,000 | 59,815 | |
5% 1/1/34 | 375,000 | 398,689 | |
Series 2021 A: | |||
4% 1/1/35 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 405,169 | |
4% 1/1/36 (Assured Guaranty Muni. Corp. Insured) | 410,000 | 412,531 | |
4% 1/1/37 (Assured Guaranty Muni. Corp. Insured) | 470,000 | 467,439 | |
4% 1/1/40 (Assured Guaranty Muni. Corp. Insured) | 385,000 | 372,727 | |
4% 1/1/41 | 480,000 | 430,364 | |
5% 1/1/23 | 100,000 | 100,000 | |
5% 1/1/25 (Assured Guaranty Muni. Corp. Insured) | 200,000 | 206,998 | |
5% 1/1/26 (Assured Guaranty Muni. Corp. Insured) | 425,000 | 447,899 | |
5% 1/1/28 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 433,691 | |
5% 1/1/31 (Assured Guaranty Muni. Corp. Insured) | 360,000 | 400,798 | |
5% 1/1/32 (Assured Guaranty Muni. Corp. Insured) | 330,000 | 366,539 | |
5% 1/1/32 (Assured Guaranty Muni. Corp. Insured) | 280,000 | 310,079 | |
Georgia Road & Thruway Auth. Rev. Series 2020, 5% 6/1/31 | 1,000,000 | 1,153,776 | |
Glynn-Brunswick Memorial Hosp. Auth. Rev. (Southeast Georgia Health Sys. Proj.) Series 2017: | |||
4% 8/1/43 | 5,000 | 4,348 | |
5% 8/1/39 | 5,000 | 5,028 | |
5% 8/1/43 | 5,000 | 5,031 | |
Hosp. Auth. of Savannah Auth. Rev. Series 2019 A: | |||
4% 7/1/36 | 195,000 | 195,492 | |
4% 7/1/43 | 205,000 | 191,957 | |
Main Street Natural Gas, Inc. Bonds: | |||
Series 2018 A, 4%, tender 9/1/23 (b) | 585,000 | 584,815 | |
Series 2018 C, 4%, tender 12/1/23 (b) | 500,000 | 499,622 | |
Series 2021 A, 4%, tender 9/1/27 (b) | 12,000,000 | 11,901,751 | |
Series 2022 E, 4%, tender 12/1/29 (b) | 3,595,000 | 3,496,601 | |
Monroe County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Scherer Proj.) Series 1995, 2.25% 7/1/25 | 200,000 | 191,839 | |
Private Colleges & Univs. Auth. Rev.: | |||
(The Savannah College of Art & Design Projs.) Series 2021: | |||
4% 4/1/39 | 1,365,000 | 1,324,243 | |
5% 4/1/24 | 675,000 | 690,908 | |
5% 4/1/29 | 500,000 | 548,814 | |
5% 4/1/36 | 135,000 | 145,799 | |
Series 2020 B: | |||
5% 9/1/25 | 180,000 | 191,286 | |
5% 9/1/34 | 1,000,000 | 1,138,189 | |
Series A: | |||
5% 6/1/23 | 80,000 | 80,580 | |
5% 6/1/24 | 130,000 | 133,339 | |
TOTAL GEORGIA | 32,279,686 | ||
Hawaii - 1.6% | |||
Hawaii Arpts. Sys. Rev.: | |||
Series 2018 A: | |||
5% 7/1/33 (c) | 350,000 | 370,216 | |
5% 7/1/48 (c) | 2,800,000 | 2,834,516 | |
Series 2022 A, 5% 7/1/42 (c) | 1,245,000 | 1,292,569 | |
Series 2022 B, 5% 7/1/24 (c) | 3,350,000 | 3,435,376 | |
Hawaii Gen. Oblig. Series 2020 A, 4% 7/1/36 (c) | 40,000 | 40,050 | |
Honolulu City & County Gen. Oblig.: | |||
(Honolulu Rail Transit Proj.) Series 2020 B, 5% 3/1/29 | 1,000,000 | 1,131,641 | |
Series 2017 A, 5% 9/1/33 | 5,000 | 5,472 | |
Series 2022 A, 5% 11/1/23 | 280,000 | 284,915 | |
Honolulu City and County Wastewtr. Sys. Series 2015 A, 5% 7/1/40 (Pre-Refunded to 7/1/25 @ 100) | 115,000 | 121,542 | |
TOTAL HAWAII | 9,516,297 | ||
Idaho - 0.1% | |||
Idaho Hsg. & Fin. Assoc. Single Family Mtg.: | |||
Series 2019 A, 4% 1/1/50 | 20,000 | 20,037 | |
Series 2021 A, 5% 7/15/31 | 610,000 | 703,664 | |
TOTAL IDAHO | 723,701 | ||
Illinois - 12.2% | |||
Champaign County Cmnty. Unit Series 2019, 4% 6/1/26 | 15,000 | 15,593 | |
Chicago Board of Ed.: | |||
Series 2012 A, 5% 12/1/42 | 830,000 | 794,640 | |
Series 2018 A: | |||
5% 12/1/29 | 350,000 | 357,406 | |
5% 12/1/30 | 160,000 | 163,376 | |
5% 12/1/31 | 150,000 | 152,934 | |
Series 2018 C, 5% 12/1/46 | 3,250,000 | 3,086,532 | |
Series 2019 A: | |||
5% 12/1/29 | 125,000 | 128,251 | |
5% 12/1/30 | 405,000 | 415,030 | |
5% 12/1/30 | 100,000 | 102,476 | |
Series 2022 B: | |||
4% 12/1/35 | 600,000 | 549,098 | |
4% 12/1/36 | 1,005,000 | 905,603 | |
Chicago Gen. Oblig.: | |||
Series 2015 C, 5% 1/1/27 | 215,000 | 219,545 | |
Series 2020 A: | |||
5% 1/1/27 | 400,000 | 413,934 | |
5% 1/1/30 | 615,000 | 648,202 | |
Series 2021 A, 5% 1/1/32 | 7,725,000 | 8,179,151 | |
Series 2021 B, 4% 1/1/32 | 375,000 | 364,261 | |
Series 2023 A: | |||
5% 1/1/29 (e) | 1,000,000 | 1,047,500 | |
5% 1/1/33 (e) | 895,000 | 943,974 | |
Chicago Midway Arpt. Rev.: | |||
Series 2013 A, 5.5% 1/1/29 (c) | 200,000 | 200,237 | |
Series 2014 B: | |||
5% 1/1/26 | 100,000 | 101,694 | |
5% 1/1/28 | 270,000 | 274,012 | |
Series 2016 A, 4% 1/1/33 (c) | 305,000 | 299,642 | |
Series 2016 B, 4% 1/1/35 | 200,000 | 198,722 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2012 B, 4% 1/1/29 (c) | 400,000 | 400,020 | |
Series 2013 A, 5% 1/1/23 (c) | 70,000 | 70,000 | |
Series 2017 B, 5% 1/1/37 | 50,000 | 52,181 | |
Series 2018 A, 5% 1/1/48 (c) | 90,000 | 91,197 | |
Series 2022 C, 5% 1/1/40 (c) | 1,850,000 | 1,925,330 | |
Chicago O'Hare Int'l. Arpt. Spl. Facilities Rev. Series 2018: | |||
5% 7/1/38 (c) | 50,000 | 50,240 | |
5% 7/1/48 (c) | 600,000 | 587,945 | |
Cook County Cmnty. Consolidated School District No. 59 Series 2020, 5% 3/1/26 | 615,000 | 659,047 | |
Cook County Gen. Oblig.: | |||
Series 2016 A: | |||
5% 11/15/23 | 10,000 | 10,136 | |
5% 11/15/31 | 500,000 | 533,099 | |
Series 2021 A: | |||
5% 11/15/23 | 35,000 | 35,477 | |
5% 11/15/24 | 50,000 | 51,611 | |
5% 11/15/33 | 425,000 | 472,060 | |
Series 2021 B: | |||
4% 11/15/25 | 180,000 | 184,405 | |
4% 11/15/26 | 90,000 | 92,670 | |
4% 11/15/27 | 90,000 | 93,047 | |
4% 11/15/28 | 45,000 | 46,648 | |
DuPage & Cook Counties Cmnty. Unit School District #205 Series 2022, 4% 9/15/42 | 2,100,000 | 2,041,014 | |
Illinois Fin. Auth.: | |||
Bonds Series 2020 B, 5%, tender 11/15/24 (b) | 400,000 | 408,621 | |
Series 2020 A: | |||
3% 5/15/50 | 1,570,000 | 1,063,054 | |
3% 5/15/50 (Build America Mutual Assurance Insured) | 710,000 | 500,773 | |
3.25% 8/15/49 | 285,000 | 220,289 | |
4% 5/15/50 | 1,000,000 | 862,556 | |
Series 2021 A, 4% 8/15/37 | 2,155,000 | 2,078,191 | |
Series 2022 A: | |||
5% 10/1/29 | 350,000 | 359,607 | |
5% 10/1/30 | 230,000 | 236,101 | |
5% 10/1/31 | 215,000 | 219,736 | |
Illinois Fin. Auth. Academic Facilities: | |||
(Provident Group UIUC Properties LLC Univ. of Illinois at Urbana-Champaign Proj.) Series 2019 A, 5% 10/1/25 | 200,000 | 209,807 | |
(Provident Group UIUC Properties LLC Univ. of Illinois at Urbana-Champaign Proj.) Series 2019 A: | |||
5% 10/1/26 | 200,000 | 212,921 | |
5% 10/1/31 | 200,000 | 219,643 | |
5% 10/1/38 | 200,000 | 209,548 | |
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 | 400,000 | 326,774 | |
Illinois Fin. Auth. Rev.: | |||
(Bradley Univ. Proj.) Series 2017 C: | |||
5% 8/1/24 �� | 45,000 | 45,705 | |
5% 8/1/30 | 615,000 | 638,194 | |
(Depaul Univ., IL Proj.): | |||
Series 2016 A, 5% 10/1/28 | 10,000 | 10,624 | |
Series 2016, 5% 10/1/29 | 30,000 | 31,865 | |
(OSF Healthcare Sys.) Series 2018 A: | |||
4.125% 5/15/47 | 750,000 | 681,297 | |
5% 5/15/43 | 790,000 | 800,041 | |
(Presence Health Proj.) Series 2016 C, 5% 2/15/36 | 15,000 | 15,809 | |
Series 2015 A: | |||
5% 11/15/23 | 10,000 | 10,154 | |
5% 11/15/25 | 150,000 | 157,583 | |
Series 2015 C: | |||
4.125% 8/15/37 | 60,000 | 56,858 | |
5% 8/15/26 | 35,000 | 36,385 | |
5% 8/15/44 | 1,380,000 | 1,327,477 | |
Series 2016 A: | |||
5% 8/15/24 (Escrowed to Maturity) | 65,000 | 67,154 | |
5% 7/1/31 (Pre-Refunded to 7/1/26 @ 100) | 30,000 | 32,344 | |
5% 7/1/33 (Pre-Refunded to 7/1/26 @ 100) | 10,000 | 10,781 | |
5% 7/1/36 (Pre-Refunded to 7/1/26 @ 100) | 45,000 | 48,515 | |
Series 2016 B, 5% 8/15/35 | 250,000 | 261,541 | |
Series 2016 C: | |||
4% 2/15/41 | 35,000 | 33,552 | |
4% 2/15/41 (Pre-Refunded to 2/15/27 @ 100) | 5,000 | 5,222 | |
5% 2/15/34 | 50,000 | 53,074 | |
Series 2016: | |||
5% 12/1/23 | 155,000 | 157,318 | |
5% 5/15/29 | 10,000 | 10,472 | |
5% 12/1/29 | 620,000 | 648,131 | |
5% 12/1/33 | 485,000 | 502,074 | |
5% 12/1/40 | 85,000 | 84,049 | |
5% 12/1/46 | 2,695,000 | 2,596,685 | |
Series 2017 A, 5% 7/15/42 | 1,000,000 | 1,038,181 | |
Series 2019: | |||
4% 9/1/35 | 60,000 | 54,359 | |
5% 9/1/36 | 295,000 | 296,675 | |
5% 9/1/38 | 100,000 | 99,574 | |
Illinois Gen. Oblig.: | |||
Series 2013 A, 5% 4/1/23 | 525,000 | 526,702 | |
Series 2013, 5% 7/1/23 | 10,000 | 10,065 | |
Series 2014: | |||
5% 2/1/25 | 520,000 | 525,621 | |
5% 5/1/28 | 50,000 | 50,456 | |
Series 2016: | |||
5% 1/1/26 | 5,000 | 5,130 | |
5% 2/1/26 | 400,000 | 410,638 | |
5% 2/1/27 | 585,000 | 603,669 | |
5% 11/1/29 | 1,400,000 | 1,427,709 | |
Series 2017 C, 5% 11/1/29 | 345,000 | 353,438 | |
Series 2017 D, 5% 11/1/27 | 850,000 | 878,621 | |
Series 2017, 4% 2/1/24 | 30,000 | 30,078 | |
Series 2018 A: | |||
5% 10/1/24 | 25,000 | 25,461 | |
5% 10/1/28 | 1,500,000 | 1,550,509 | |
Series 2018 B: | |||
5% 5/1/24 | 1,500,000 | 1,523,161 | |
5% 10/1/24 | 1,050,000 | 1,069,381 | |
Series 2019 B: | |||
5% 9/1/24 | 105,000 | 106,883 | |
5% 9/1/25 | 20,000 | 20,483 | |
Series 2020 C, 4% 10/1/37 | 1,815,000 | 1,632,440 | |
Series 2021 A, 5% 3/1/32 | 450,000 | 459,951 | |
Series 2022 A, 5% 3/1/32 | 650,000 | 665,795 | |
Series 2022 B: | |||
5% 3/1/29 | 650,000 | 671,864 | |
5% 3/1/33 | 1,700,000 | 1,731,791 | |
Series May 2014, 5% 5/1/39 | 1,600,000 | 1,587,551 | |
Illinois Hsg. Dev. Auth. Series 2021, 3% 4/1/51 | 740,000 | 716,538 | |
Illinois Sales Tax Rev. Series 2013, 5% 6/15/24 | 285,000 | 286,605 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev.: | |||
Series 2019 A, 5% 1/1/44 | 105,000 | 109,503 | |
Series A, 5% 1/1/40 | 220,000 | 232,522 | |
Kendall, Kane & Will Counties Cmnty. Unit School District #308: | |||
Series 2008, 0% 2/1/25 (Assured Guaranty Muni. Corp. Insured) | 315,000 | 294,395 | |
Series 2015, 4% 2/1/30 | 800,000 | 811,464 | |
Metropolitan Pier & Exposition: | |||
(McCormick Place Expansion Proj.): | |||
Series 2002 A, 0% 6/15/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,280,000 | 1,210,791 | |
Series 2010 B1: | |||
0% 6/15/43 (Assured Guaranty Muni. Corp. Insured) | 610,000 | 226,338 | |
0% 6/15/47 (Assured Guaranty Muni. Corp. Insured) | 155,000 | 46,078 | |
Series 1994 A, 0% 6/15/25 | 25,000 | 22,882 | |
Series 1994, 0% 6/15/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,200,000 | 972,103 | |
Series 2002 A: | |||
0% 6/15/32 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 30,000 | 20,115 | |
0% 6/15/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 240,000 | 135,128 | |
Series 2002, 0% 12/15/23 | 205,000 | 197,984 | |
Series 2017 A, 5% 6/15/57 | 875,000 | 842,979 | |
Series 2020 A: | |||
4% 6/15/50 | 1,170,000 | 958,727 | |
5% 6/15/50 | 1,730,000 | 1,685,200 | |
Series 2022 A: | |||
0% 12/15/35 | 420,000 | 226,879 | |
0% 6/15/40 | 1,725,000 | 710,927 | |
4% 12/15/47 | 5,000,000 | 4,165,478 | |
Northern Illinois Univ. Revs. Series 2020 B, 4% 4/1/40 (Build America Mutual Assurance Insured) | 455,000 | 422,387 | |
Univ. of Illinois Board of Trustees Ctfs. of Prtn. (Univ. of Illinois Rev. Proj.) Series 2014 A, 5% 10/1/26 | 15,000 | 15,444 | |
Univ. of Illinois Rev. Series 2018 A, 5% 4/1/30 | 100,000 | 109,248 | |
TOTAL ILLINOIS | 74,184,366 | ||
Indiana - 0.8% | |||
Indiana Fin. Auth. Envir. Facilities Rev. Bonds (Indianapolis Pwr. & Lt. Co. Proj.): | |||
Series 2020 A, 0.75%, tender 4/1/26 (b) | 50,000 | 43,374 | |
Series 2020 B, 0.95%, tender 4/1/26 (b)(c) | 100,000 | 87,623 | |
Indiana Fin. Auth. Rev. Series 2016, 5% 9/1/30 | 50,000 | 52,980 | |
Indiana Fin. Auth. Wastewtr. Util. Rev. Series 2021 2, 5% 10/1/41 | 1,000,000 | 1,093,810 | |
Indiana Health Facility Fing. Auth. Rev. Bonds Series 2001 A2, 2%, tender 2/1/23 (b) | 65,000 | 64,938 | |
Indiana Hsg. & Cmnty. Dev. Auth.: | |||
Series 2021 B: | |||
3% 7/1/50 | 115,000 | 111,705 | |
5% 7/1/25 | 690,000 | 723,121 | |
Series 2021 C1, 3% 1/1/52 | 1,175,000 | 1,129,996 | |
Series A, 3.75% 1/1/49 | 335,000 | 333,528 | |
Indianapolis Local Pub. Impt. (Indianapolis Arpt. Auth. Proj.) Series 2014 D: | |||
5% 1/1/28 (c) | 75,000 | 76,012 | |
5% 1/1/30 (c) | 85,000 | 86,046 | |
Saint Joseph County Econ. Dev. Auth. Rev. (St. Mary's College Proj.): | |||
Series 2019, 4% 4/1/46 | 215,000 | 194,521 | |
Series 2020, 5% 4/1/30 | 105,000 | 114,346 | |
Whiting Envir. Facilities Rev. Bonds (BP Products North America, Inc. Proj.) Series 2019 A, 5%, tender 6/5/26 (b)(c) | 695,000 | 711,403 | |
TOTAL INDIANA | 4,823,403 | ||
Iowa - 0.6% | |||
Iowa Fin. Auth. Rev. Series A: | |||
5% 5/15/43 | 35,000 | 30,177 | |
5% 5/15/48 | 420,000 | 348,049 | |
Iowa Student Ln. Liquidity Corp. Student Ln. Rev. Series 2019 B, 5% 12/1/27 (c) | 155,000 | 165,671 | |
Tobacco Settlement Auth. Tobacco Settlement Rev.: | |||
Series 2021 A2: | |||
4% 6/1/40 | 425,000 | 382,842 | |
5% 6/1/27 | 250,000 | 260,980 | |
5% 6/1/28 | 500,000 | 525,324 | |
5% 6/1/29 | 600,000 | 633,932 | |
5% 6/1/30 | 700,000 | 742,455 | |
Series 2021 B1, 4% 6/1/49 | 305,000 | 299,905 | |
TOTAL IOWA | 3,389,335 | ||
Kentucky - 1.2% | |||
Ashland Med. Ctr. Rev. Series 2019: | |||
3% 2/1/40 (Assured Guaranty Muni. Corp. Insured) | 370,000 | 291,907 | |
4% 2/1/37 | 175,000 | 161,148 | |
5% 2/1/25 | 280,000 | 287,441 | |
Carroll County Poll. Ctlr Rev. Bonds (Kentucky Utils. Co. Proj.) Series 2016 A, 1.55%, tender 9/1/26 (b) | 1,000,000 | 909,654 | |
Kentucky Econ. Dev. Fin. Auth. Series 2019 A2, 5% 8/1/30 | 345,000 | 367,904 | |
Kentucky State Property & Buildings Commission Rev.: | |||
(Proj. No. 118) Series 2018, 5% 4/1/25 | 175,000 | 182,623 | |
(Proj. No. 119) Series 2018: | |||
5% 5/1/26 | 80,000 | 85,149 | |
5% 5/1/29 | 85,000 | 93,400 | |
5% 5/1/32 | 20,000 | 21,880 | |
5% 5/1/33 | 15,000 | 16,400 | |
5% 5/1/34 | 20,000 | 21,729 | |
5% 5/1/35 | 10,000 | 10,755 | |
5% 5/1/36 | 10,000 | 10,681 | |
5% 5/1/38 | 1,000,000 | 1,053,411 | |
Series A: | |||
4% 11/1/35 | 600,000 | 611,360 | |
5% 11/1/29 | 150,000 | 166,066 | |
Kentucky, Inc. Pub. Energy Bonds Series A, 4%, tender 6/1/26 (b) | 1,505,000 | 1,489,796 | |
Louisville & Jefferson County: | |||
Bonds: | |||
Series 2020 C, 5%, tender 10/1/26 (b) | 70,000 | 73,487 | |
Series 2020 D, 5%, tender 10/1/29 (b) | 85,000 | 92,211 | |
Series 2016 A, 5% 10/1/32 | 70,000 | 72,981 | |
Series 2020 A: | |||
3% 10/1/43 | 1,160,000 | 892,643 | |
4% 10/1/40 | 195,000 | 184,318 | |
Louisville Reg'l. Arpt. Auth. Sys. Rev. Series 2014 A, 5% 7/1/24 (c) | 65,000 | 66,609 | |
TOTAL KENTUCKY | 7,163,553 | ||
Louisiana - 0.4% | |||
Louisiana Pub. Facilities Auth. Rev.: | |||
(Ochsner Clinic Foundation Proj.): | |||
Series 2015, 5% 5/15/47 | 195,000 | 197,265 | |
Series 2017, 5% 5/15/27 | 115,000 | 122,599 | |
(Tulane Univ. of Louisiana Proj.): | |||
Series 2016 A, 5% 12/15/28 | 15,000 | 16,013 | |
Series 2017 A, 5% 12/15/32 | 165,000 | 176,727 | |
Series 2018 E, 5% 7/1/38 | 100,000 | 104,689 | |
New Orleans Aviation Board Rev. (North Term. Proj.) Series 2017 B, 5% 1/1/48 (c) | 2,000,000 | 1,974,056 | |
TOTAL LOUISIANA | 2,591,349 | ||
Maine - 0.2% | |||
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) | 220,000 | 221,912 | |
Series 2013, 5% 7/1/25 (Pre-Refunded to 7/1/23 @ 100) | 40,000 | 40,348 | |
Series 2014, 5% 7/1/30 (Pre-Refunded to 7/1/24 @ 100) | 585,000 | 602,842 | |
Series 2016 A: | |||
4% 7/1/41 | 85,000 | 75,869 | |
4% 7/1/46 | 85,000 | 73,305 | |
5% 7/1/41 | 25,000 | 25,086 | |
5% 7/1/46 | 155,000 | 153,734 | |
Series 2017 B, 5% 7/1/29 | 10,000 | 10,696 | |
TOTAL MAINE | 1,203,792 | ||
Maryland - 1.7% | |||
Hsg. Opportunities Commission of Montgomery County Series 2021 C, 0.8% 7/1/25 | 100,000 | 93,528 | |
Maryland Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev.: | |||
Series 2019 B, 4% 9/1/49 | 55,000 | 55,093 | |
Series 2019 C, 5% 9/1/28 | 115,000 | 126,476 | |
Series 2021 C: | |||
0.375% 7/1/23 | 100,000 | 98,574 | |
0.6% 7/1/24 | 600,000 | 576,136 | |
Maryland Econ. Dev. Corp. Air Cargo Series 2019: | |||
5% 7/1/23 (c) | 325,000 | 325,789 | |
5% 7/1/25 (c) | 510,000 | 519,719 | |
5% 7/1/26 (c) | 230,000 | 235,894 | |
Maryland Gen. Oblig. Series 2022 2C, 4% 3/1/28 | 1,000,000 | 1,066,992 | |
Maryland Health & Higher Edl. Series 2021 A: | |||
2.5% 7/1/51 | 1,210,000 | 744,154 | |
3% 7/1/51 | 915,000 | 639,996 | |
4% 6/1/55 | 190,000 | 156,395 | |
5% 6/1/29 | 120,000 | 127,913 | |
Maryland Stadium Auth. Built to Learn Rev. Series 2021, 4% 6/1/46 | 180,000 | 166,099 | |
Maryland Trans. Auth. Trans. Facility Projs. Rev. Series 2020, 5% 7/1/40 | 2,000,000 | 2,187,149 | |
Prince Georges County Ctfs. of Prtn. Series 2021: | |||
5% 10/1/25 | 1,610,000 | 1,706,360 | |
5% 10/1/26 | 1,650,000 | 1,783,853 | |
TOTAL MARYLAND | 10,610,120 | ||
Massachusetts - 4.0% | |||
Massachusetts Bay Trans. Auth. Sales Tax Rev. Series 2021 A1, 5% 7/1/35 | 820,000 | 936,649 | |
Massachusetts Commonwealth Trans. Fund Rev.: | |||
(Rail Enhancement Prog.) Series 2021 B: | |||
5% 6/1/26 | 350,000 | 377,190 | |
5% 6/1/27 | 500,000 | 548,599 | |
5% 6/1/41 | 1,250,000 | 1,336,430 | |
Series 2021 A, 5% 6/1/51 | 1,860,000 | 1,985,857 | |
Massachusetts Dept. of Trans. Metropolitan Hwy. Sys. Rev. Bonds Series 2019 A, 5%, tender 1/1/23 (b) | 300,000 | 300,000 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
(Lawrence Gen. Hosp.) Series 2014 A, 5.25% 7/1/34 | 40,000 | 36,971 | |
Series 2016 A, 5% 1/1/31 | 40,000 | 41,538 | |
Series 2016 I: | |||
5% 7/1/30 | 195,000 | 203,254 | |
5% 7/1/41 | 140,000 | 141,599 | |
Series 2017 A: | |||
5% 1/1/36 | 325,000 | 333,093 | |
5% 1/1/37 | 1,050,000 | 1,069,880 | |
Series 2017, 5% 7/1/36 | 275,000 | 282,385 | |
Series 2018, 5% 1/1/43 | 180,000 | 180,804 | |
Series 2019 K: | |||
5% 7/1/25 | 125,000 | 130,388 | |
5% 7/1/26 | 165,000 | 174,441 | |
5% 7/1/27 | 195,000 | 208,571 | |
Series 2019: | |||
5% 7/1/27 | 440,000 | 464,229 | |
5% 9/1/59 | 510,000 | 522,018 | |
Series 2020 A, 4% 7/1/45 | 480,000 | 404,743 | |
Series 2021 V, 5% 7/1/55 | 1,245,000 | 1,407,659 | |
Series 2021: | |||
4% 7/1/26 | 240,000 | 233,819 | |
4% 7/1/27 | 255,000 | 246,045 | |
4% 7/1/28 | 325,000 | 310,460 | |
4% 7/1/29 | 340,000 | 321,348 | |
4% 7/1/30 | 355,000 | 331,776 | |
4% 7/1/31 | 370,000 | 341,748 | |
Series M: | |||
4% 10/1/50 | 490,000 | 404,678 | |
5% 10/1/45 | 370,000 | 370,223 | |
Massachusetts Edl. Fing. Auth. Rev. Series 2016, 5% 7/1/24 (c) | 210,000 | 214,674 | |
Massachusetts Gen. Oblig.: | |||
Series 2019 A, 5% 1/1/49 | 2,000,000 | 2,109,245 | |
Series 2019 C, 5% 5/1/49 | 345,000 | 364,751 | |
Series 2022 C, 5.25% 10/1/47 | 2,000,000 | 2,221,398 | |
Series E, 5% 11/1/50 | 1,640,000 | 1,753,611 | |
Massachusetts Hsg. Fin. Auth. Series 2021 223, 3% 6/1/47 | 700,000 | 678,424 | |
Massachusetts Port Auth. Rev.: | |||
Series 2019 A, 5% 7/1/40 (c) | 500,000 | 518,906 | |
Series 2021 E: | |||
5% 7/1/41 (c) | 1,000,000 | 1,042,730 | |
5% 7/1/46 (c) | 290,000 | 298,904 | |
5% 7/1/51 (c) | 1,000,000 | 1,024,498 | |
Massachusetts Port Auth. Spl. Facilities Rev. (Bosfuel Proj.) Series 2019 A, 5% 7/1/49 (c) | 230,000 | 232,453 | |
TOTAL MASSACHUSETTS | 24,105,989 | ||
Michigan - 1.4% | |||
Detroit Downtown Dev. Auth. Tax Series A, 5% 7/1/37 (Assured Guaranty Muni. Corp. Insured) | 40,000 | 40,541 | |
Flint Hosp. Bldg. Auth. Rev. Series 2020: | |||
4% 7/1/41 | 140,000 | 116,259 | |
5% 7/1/25 | 60,000 | 61,644 | |
5% 7/1/27 | 265,000 | 277,913 | |
Grand Rapids Pub. Schools Series 2019, 5% 11/1/26 (Assured Guaranty Muni. Corp. Insured) | 180,000 | 193,213 | |
Grand Traverse County Hosp. Fin. Auth. Series 2021, 3% 7/1/51 | 395,000 | 277,816 | |
Great Lakes Wtr. Auth. Sew Disp. Sys. Series 2018 A, 5% 7/1/48 | 200,000 | 206,661 | |
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev. Series 2016 D, 5% 7/1/27 | 100,000 | 106,859 | |
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016, 4% 5/15/36 | 185,000 | 179,650 | |
Michigan Fin. Auth. Rev.: | |||
(Charter County of Wayne Criminal Justice Ctr. Proj.) Series 2018, 5% 11/1/43 | 50,000 | 52,498 | |
(Henry Ford Health Sys. Proj.) Series 2016, 5% 11/15/25 | 570,000 | 599,454 | |
Series 2016, 5% 11/15/26 | 160,000 | 170,892 | |
Series 2019 A: | |||
3% 12/1/49 | 555,000 | 401,083 | |
5% 11/15/48 | 55,000 | 55,783 | |
Series 2020 A, 4% 6/1/49 | 135,000 | 111,872 | |
Series 2020, 5% 6/1/40 | 1,105,000 | 1,117,902 | |
Series 2021: | |||
4% 9/1/31 | 665,000 | 687,332 | |
5% 9/1/32 | 690,000 | 762,125 | |
5% 9/1/33 | 650,000 | 715,485 | |
5% 9/1/36 | 505,000 | 546,314 | |
Michigan Hosp. Fin. Auth. Rev. Series 2008 C, 5% 12/1/32 | 10,000 | 10,928 | |
Michigan Strategic Fund Ltd. Oblig. Rev. Bonds (Consumer Energy Co. Proj.) Series 2019, 1.8%, tender 10/1/24 (b)(c) | 175,000 | 169,110 | |
Univ. of Michigan Rev. Series 2020 A, 5% 4/1/50 | 1,000,000 | 1,087,768 | |
Wayne County Arpt. Auth. Rev.: | |||
Series 2017 A, 5% 12/1/29 | 45,000 | 49,351 | |
Series 2017 B, 5% 12/1/42 (c) | 150,000 | 153,192 | |
Series 2018 D, 5% 12/1/29 (c) | 85,000 | 90,752 | |
TOTAL MICHIGAN | 8,242,397 | ||
Minnesota - 0.7% | |||
Duluth Econ. Dev. Auth. Health Care Facilities Rev. Series 2018 A: | |||
5% 2/15/48 | 220,000 | 213,788 | |
5% 2/15/58 | 270,000 | 263,686 | |
Maple Grove Health Care Sys. Rev. Series 2015, 5% 9/1/26 | 60,000 | 62,288 | |
Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev. Series 2022 B: | |||
5% 1/1/34 (c) | 210,000 | 228,030 | |
5% 1/1/37 (c) | 520,000 | 550,032 | |
Minnesota Higher Ed. Facilities Auth. Rev. Series 2018 A: | |||
5% 10/1/30 | 500,000 | 535,242 | |
5% 10/1/45 | 30,000 | 30,583 | |
Minnesota Hsg. Fin. Agcy. Series B, 4% 8/1/39 | 2,050,000 | 2,045,989 | |
Shakopee Sr. Hsg. Rev. Bonds Series 2018, 5.85%, tender 11/1/25 (b)(d) | 255,000 | 250,565 | |
TOTAL MINNESOTA | 4,180,203 | ||
Mississippi - 0.6% | |||
Mississippi Bus. finance Corp. Exempt Facilities Rev. Bonds (Enviva, Inc. Proj.) Series 2022, 7.75%, tender 7/15/32 (b)(c) | 2,200,000 | 2,212,574 | |
Mississippi Home Corp. Series 2021 B: | |||
3% 6/1/51 | 320,000 | 310,187 | |
5% 6/1/25 | 750,000 | 785,603 | |
Mississippi Hosp. Equip. & Facilities Auth.: | |||
Bonds Series II, 5%, tender 3/1/27 (b) | 80,000 | 83,703 | |
Series I, 5% 10/1/24 | 70,000 | 72,037 | |
TOTAL MISSISSIPPI | 3,464,104 | ||
Missouri - 0.9% | |||
Cape Girardeau County Indl. Dev. Auth.: | |||
(Southeast Hosp. Proj.) Series 2017 A, 5% 3/1/36 | 105,000 | 107,362 | |
Series 2021, 4% 3/1/41 | 250,000 | 216,680 | |
Kansas City Wtr. Rev. Series 2020 A, 4% 12/1/44 | 1,200,000 | 1,164,573 | |
Missouri Health & Edl. Facilities Rev.: | |||
Series 2017 A, 5% 10/1/42 | 475,000 | 499,754 | |
Series 2018 A, 5% 11/15/43 | 1,000,000 | 1,027,954 | |
Missouri Hsg. Dev. Commission Single Family Mtg. Rev.: | |||
Series 2019, 4% 5/1/50 | 20,000 | 20,049 | |
Series 2021 A, 3% 5/1/52 | 520,000 | 503,915 | |
Saint Louis Arpt. Rev. Series A, 5.25% 7/1/26 (Assured Guaranty Muni. Corp. Insured) | 570,000 | 612,349 | |
Saint Louis County Indl. Dev. Auth. Sr. Living Facilities Rev. Series 2018 A: | |||
5.125% 9/1/48 | 25,000 | 21,285 | |
5.25% 9/1/53 | 1,240,000 | 1,056,687 | |
TOTAL MISSOURI | 5,230,608 | ||
Montana - 0.1% | |||
Montana Board Hsg. Single Family: | |||
Series 2017 A, 4% 12/1/47 (c) | 10,000 | 9,953 | |
Series 2019 B, 4% 6/1/50 | 10,000 | 10,032 | |
Montana Facility Fin. Auth. Series 2021 A, 3% 6/1/50 | 575,000 | 395,971 | |
Montana Facility Fin. Auth. Rev. (Benefis Health Sys. Proj.) Series 2016, 5% 2/15/32 | 30,000 | 31,319 | |
TOTAL MONTANA | 447,275 | ||
Nebraska - 1.0% | |||
Central Plains Energy Proj. Gas Supply Bonds Series 2019, 4%, tender 8/1/25 (b) | 725,000 | 723,109 | |
Douglas County Neb Edl. Facilities Rev. (Creighton Univ. Projs.) Series 2021 A, 3% 7/1/51 | 260,000 | 177,582 | |
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.: | |||
Series 2019 B, 4% 9/1/49 (c) | 50,000 | 49,742 | |
Series 2019 E, 3.75% 9/1/49 (c) | 70,000 | 69,348 | |
Series 2022 B: | |||
5% 3/1/25 (c) | 1,090,000 | 1,125,701 | |
5% 9/1/25 (c) | 1,105,000 | 1,150,260 | |
5% 3/1/26 (c) | 1,100,000 | 1,153,880 | |
5% 9/1/26 (c) | 1,140,000 | 1,204,044 | |
5% 3/1/30 (c) | 400,000 | 438,353 | |
TOTAL NEBRASKA | 6,092,019 | ||
Nevada - 0.5% | |||
Clark County Arpt. Rev. Series 2014 A2, 5% 7/1/30 | 115,000 | 118,574 | |
Clark County School District Series 2017 A, 5% 6/15/25 | 400,000 | 421,255 | |
Nevada Hsg. Division Single Family Mtg. Rev.: | |||
Series 2019 A, 4% 4/1/49 | 340,000 | 340,649 | |
Series 2019 B, 4% 10/1/49 | 35,000 | 35,069 | |
Series 2021 B, 3% 10/1/51 | 2,085,000 | 2,003,793 | |
Tahoe-Douglas Visitors Auth. Series 2020, 5% 7/1/45 | 195,000 | 191,912 | |
TOTAL NEVADA | 3,111,252 | ||
New Hampshire - 0.6% | |||
Nat'l. Fin. Auth. Hosp. Rev.: | |||
(St. Luke's Univ. Health Network Proj.) Series 2021 B, 5% 8/15/30 | 1,405,000 | 1,580,986 | |
(St. Lukes Univ. Health Network Proj.) Series 2021 B, 3% 8/15/51 (Assured Guaranty Muni. Corp. Insured) | 490,000 | 346,034 | |
Nat'l. Finnance Auth. Series 2020 1, 4.125% 1/20/34 | 225,104 | 218,265 | |
New Hampshire Health & Ed. Facilities Auth. (Dartmouth-Hitchcock Oblgtd Grp Proj.) Series 2018 A: | |||
5% 8/1/23 | 200,000 | 201,847 | |
5% 8/1/26 | 105,000 | 111,139 | |
5% 8/1/37 | 100,000 | 105,624 | |
New Hampshire Nat'l. Fin. Auth. Series 2022 2, 4% 10/20/36 | 1,495,494 | 1,392,304 | |
TOTAL NEW HAMPSHIRE | 3,956,199 | ||
New Jersey - 5.1% | |||
New Jersey Econ. Dev. Auth.: | |||
Series 2013, 5% 3/1/27 | 10,000 | 10,027 | |
Series A, 5% 11/1/40 | 360,000 | 371,188 | |
Series QQQ: | |||
4% 6/15/46 | 610,000 | 528,682 | |
5% 6/15/27 | 35,000 | 37,443 | |
5% 6/15/28 | 40,000 | 43,211 | |
New Jersey Econ. Dev. Auth. Lease Rev. Series 2018 A, 5% 6/15/23 | 1,000,000 | 1,007,142 | |
New Jersey Econ. Dev. Auth. Rev.: | |||
(Black Horse EHT Urban Renewal LLC Proj.) Series 2019 A, 5% 10/1/39 (d) | 100,000 | 74,821 | |
(NJ Transit Corp. Projs.) Series A, 4% 11/1/27 | 370,000 | 380,262 | |
Series 2013 NN, 5% 3/1/29 (Pre-Refunded to 3/1/23 @ 100) | 1,000,000 | 1,002,896 | |
Series 2013: | |||
5% 3/1/23 | 25,000 | 25,060 | |
5% 3/1/24 | 70,000 | 70,187 | |
Series 2014 PP: | |||
4% 6/15/30 (Pre-Refunded to 6/15/24 @ 100) | 70,000 | 71,223 | |
5% 6/15/26 | 280,000 | 287,096 | |
Series 2014 RR, 5% 6/15/32 (Pre-Refunded to 6/15/24 @ 100) | 60,000 | 61,893 | |
Series 2014 UU, 5% 6/15/30 (Pre-Refunded to 6/15/24 @ 100) | 70,000 | 72,158 | |
Series 2015 XX, 4.25% 6/15/26 | 280,000 | 286,314 | |
Series 2018 EEE: | |||
5% 6/15/28 | 410,000 | 442,911 | |
5% 6/15/43 | 1,270,000 | 1,294,286 | |
Series LLL: | |||
4% 6/15/44 | 315,000 | 277,221 | |
5% 6/15/44 | 180,000 | 183,513 | |
Series MMM, 4% 6/15/35 | 90,000 | 88,882 | |
Series PP, 5% 6/15/31 (Pre-Refunded to 6/15/24 @ 100) | 260,000 | 268,204 | |
New Jersey Edl. Facility Series 2016 B, 4% 9/1/26 | 500,000 | 512,227 | |
New Jersey Gen. Oblig.: | |||
Series 2020 A, 5% 6/1/29 | 205,000 | 231,679 | |
Series 2021, 2% 6/1/23 | 5,000,000 | 4,968,334 | |
New Jersey Health Care Facilities Fing. Auth. Rev. Series 2016: | |||
4% 7/1/48 | 100,000 | 83,665 | |
5% 7/1/41 | 65,000 | 65,285 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | |||
Series 2017 1A, 5% 12/1/26 (c) | 530,000 | 561,461 | |
Series 2018 B: | |||
5% 12/1/25 (c) | 500,000 | 522,581 | |
5% 12/1/26 (c) | 485,000 | 513,607 | |
5% 12/1/27 (c) | 850,000 | 910,500 | |
Series 2020: | |||
5% 12/1/24 (c) | 100,000 | 102,768 | |
5% 12/1/25 (c) | 235,000 | 244,620 | |
5% 12/1/25 (c) | 60,000 | 62,406 | |
5% 12/1/26 (c) | 205,000 | 216,093 | |
5% 12/1/27 (c) | 145,000 | 154,645 | |
5% 12/1/27 (c) | 40,000 | 42,661 | |
New Jersey Tobacco Settlement Fing. Corp. Series 2018 A, 5.25% 6/1/46 | 1,915,000 | 1,921,157 | |
New Jersey Tpk. Auth. Tpk. Rev.: | |||
Series 2015 E, 5% 1/1/34 | 190,000 | 197,253 | |
Series D, 5% 1/1/28 | 170,000 | 182,742 | |
New Jersey Trans. Trust Fund Auth.: | |||
(Trans. Prog.) Series 2019 AA, 5.25% 6/15/43 | 505,000 | 524,612 | |
Series 2010 A, 0% 12/15/27 | 250,000 | 207,800 | |
Series 2014 AA, 5% 6/15/25 | 100,000 | 102,510 | |
Series 2016 A, 5% 6/15/27 | 160,000 | 169,010 | |
Series 2018 A, 5% 12/15/32 | 100,000 | 107,403 | |
Series 2019 BB, 4% 6/15/50 | 370,000 | 311,192 | |
Series 2021 A: | |||
4% 6/15/34 | 140,000 | 140,452 | |
5% 6/15/32 | 295,000 | 325,154 | |
5% 6/15/33 | 1,000,000 | 1,094,187 | |
Series 2022 A, 4% 6/15/39 | 720,000 | 665,877 | |
Series 2022 AA: | |||
5% 6/15/33 | 250,000 | 275,883 | |
5% 6/15/36 | 1,460,000 | 1,567,668 | |
Series 2022 BB: | |||
4% 6/15/46 | 1,385,000 | 1,200,368 | |
4% 6/15/50 | 1,000,000 | 841,060 | |
Series AA: | |||
4% 6/15/38 | 185,000 | 173,129 | |
4% 6/15/45 | 1,535,000 | 1,340,448 | |
4% 6/15/50 | 1,980,000 | 1,665,299 | |
5% 6/15/40 | 210,000 | 217,433 | |
Series BB: | |||
5% 6/15/33 | 1,000,000 | 1,069,270 | |
5% 6/15/50 | 70,000 | 70,640 | |
Rutgers State Univ. Rev. Series Q, 5% 5/1/23 | 30,000 | 30,190 | |
South Jersey Trans. Auth. Trans. Sys. Rev. Series 2022 A: | |||
5% 11/1/36 | 450,000 | 479,072 | |
5% 11/1/40 | 150,000 | 152,017 | |
TOTAL NEW JERSEY | 31,108,978 | ||
New Mexico - 0.4% | |||
New Mexico Edl. Assistance Foundation Series 2021 1A: | |||
5% 9/1/23 (c) | 450,000 | 454,143 | |
5% 9/1/26 (c) | 1,045,000 | 1,105,553 | |
5% 9/1/27 (c) | 350,000 | 374,539 | |
5% 9/1/29 (c) | 150,000 | 164,456 | |
New Mexico Mtg. Fin. Auth.: | |||
Series 2019 C, 4% 1/1/50 | 150,000 | 150,298 | |
Series 2019 D, 3.75% 1/1/50 | 45,000 | 44,805 | |
Santa Fe Retirement Fac. Series 2019 A: | |||
5% 5/15/34 | 10,000 | 9,380 | |
5% 5/15/39 | 5,000 | 4,435 | |
5% 5/15/44 | 5,000 | 4,216 | |
5% 5/15/49 | 15,000 | 12,259 | |
TOTAL NEW MEXICO | 2,324,084 | ||
New York - 6.7% | |||
Buffalo and Erie County Indl. Land Rev. (Catholic Health Sys., Inc. Proj.) Series 2015, 5% 7/1/25 | 400,000 | 376,195 | |
Long Island Pwr. Auth. Elec. Sys. Rev. Bonds Series 2021 B, 1.5%, tender 9/1/26 (b) | 500,000 | 464,561 | |
Monroe County Indl. Dev. Corp. (Univ. of Rochester Proj.) Series 2015 B, 4% 7/1/35 | 5,000 | 5,037 | |
MTA Hudson Rail Yards Trust Oblig. Series 2016 A, 5% 11/15/56 | 100,000 | 99,119 | |
New York City Edl. Construction Fund Series 2021 B: | |||
5% 4/1/46 | 675,000 | 714,188 | |
5% 4/1/52 | 520,000 | 546,688 | |
New York City Gen. Oblig.: | |||
Series 2018 A, 5% 8/1/24 | 100,000 | 103,502 | |
Series E, 5% 8/1/30 | 1,025,000 | 1,099,249 | |
New York City Hsg. Dev. Corp. Multifamily Hsg.: | |||
Bonds: | |||
Series 2021 C2, 0.7%, tender 7/1/25 (b) | 270,000 | 250,058 | |
Series 2021 K2, 0.9%, tender 1/1/26 (b) | 2,075,000 | 1,896,403 | |
Series 2021, 0.6%, tender 7/1/25 (b) | 390,000 | 360,189 | |
Series A 1 B, 5% 5/1/30 | 490,000 | 541,248 | |
New York City Muni. Wtr. Fin. Auth. Series GG 1, 5% 6/15/48 | 1,350,000 | 1,427,951 | |
New York City Trust Cultural Resources Rev. Series 2021, 5% 7/1/31 | 660,000 | 776,746 | |
New York Dorm. Auth. Rev.: | |||
Bonds Series 2019 B2, 5%, tender 5/1/24 (b) | 100,000 | 101,362 | |
Series 2020 A: | |||
4% 9/1/37 | 350,000 | 308,934 | |
4% 9/1/39 | 700,000 | 608,479 | |
Series 2022 A: | |||
5% 7/15/37 | 110,000 | 113,180 | |
5% 7/15/42 | 310,000 | 315,146 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2015 A1, 5% 11/15/29 | 120,000 | 122,012 | |
Series 2016 A, 5% 11/15/31 | 100,000 | 102,536 | |
Series 2016 C1, 5% 11/15/33 | 1,000,000 | 1,024,435 | |
Series 2017 B, 5% 11/15/24 | 565,000 | 579,858 | |
Series 2017 C1, 5% 11/15/30 | 325,000 | 336,451 | |
Series 2017 D: | |||
5% 11/15/25 | 1,635,000 | 1,695,007 | |
5% 11/15/30 | 2,220,000 | 2,298,221 | |
Series 2020 D: | |||
4% 11/15/46 | 2,050,000 | 1,714,440 | |
4% 11/15/47 | 150,000 | 124,544 | |
New York State Dorm. Auth.: | |||
Series 2019 D, 3% 2/15/49 | 1,065,000 | 807,881 | |
Series 2021 A, 4% 3/15/38 | 1,000,000 | 981,064 | |
Series 2021 E: | |||
3% 3/15/50 | 1,060,000 | 797,863 | |
4% 3/15/39 | 1,000,000 | 974,775 | |
New York State Envir. Facilities Corp. Rev. (2010 Master Fing. Prog.) Series 2021 B: | |||
5% 2/15/28 | 160,000 | 179,062 | |
5% 8/15/28 | 235,000 | 265,527 | |
5% 2/15/29 | 100,000 | 113,926 | |
5% 8/15/29 | 200,000 | 229,895 | |
5% 2/15/30 | 340,000 | 393,763 | |
5% 8/15/30 | 400,000 | 467,200 | |
New York State Hsg. Fin. Agcy. Rev.: | |||
Bonds: | |||
Series 2021 J2, 1.1%, tender 5/1/27 (b) | 1,105,000 | 984,643 | |
Series 2021 K2, 1%, tender 11/1/26 (b) | 300,000 | 271,302 | |
Series J, 0.75% 5/1/25 | 250,000 | 234,515 | |
New York State Mtg. Agcy. Homeowner Mtg.: | |||
Series 2021 232, 5% 10/1/25 (c) | 765,000 | 795,355 | |
Series 2021 239, 3.25% 10/1/51 | 1,025,000 | 997,746 | |
Series 221, 3.5% 10/1/32 (c) | 20,000 | 19,583 | |
New York State Urban Dev. Corp.: | |||
Series 2020 C, 4% 3/15/39 | 1,000,000 | 974,775 | |
Series 2020 E: | |||
4% 3/15/44 | 1,675,000 | 1,572,741 | |
4% 3/15/45 | 1,350,000 | 1,261,311 | |
New York State Urban Eev Corp. Series 2019 A, 5% 3/15/37 | 1,105,000 | 1,204,422 | |
New York Trans. Dev. Corp. (Term. 4 John F. Kennedy Int'l. Arpt. Proj.) Series 2022: | |||
5% 12/1/32 (c) | 380,000 | 406,519 | |
5% 12/1/33 (c) | 590,000 | 627,615 | |
5% 12/1/34 (c) | 645,000 | 677,473 | |
5% 12/1/35 (c) | 325,000 | 338,413 | |
5% 12/1/36 (c) | 220,000 | 227,523 | |
5% 12/1/37 (c) | 590,000 | 607,102 | |
5% 12/1/38 (c) | 1,430,000 | 1,466,001 | |
5% 12/1/39 (c) | 1,090,000 | 1,111,631 | |
5% 12/1/40 (c) | 925,000 | 938,273 | |
5% 12/1/41 (c) | 840,000 | 847,699 | |
5% 12/1/42 (c) | 420,000 | 422,890 | |
Niagara Area Dev. Corp. Rev. (Catholic Health Sys., Inc. Proj.) Series 2022, 4.5% 7/1/52 | 555,000 | 370,231 | |
Oneida County Local Dev. Corp. Rev. (Mohawk Valley Health Sys. Proj.) Series 2019 A, 5% 12/1/29 (Assured Guaranty Muni. Corp. Insured) | 600,000 | 610,640 | |
Onondaga Civic Dev. Corp. (Le Moyne College Proj.) Series 2015, 5% 7/1/27 | 295,000 | 302,638 | |
Suffolk County Econ. Dev. Corp. Rev. Series 2021: | |||
5.125% 11/1/41 (d) | 100,000 | 78,177 | |
5.375% 11/1/54 (d) | 100,000 | 75,430 | |
TOTAL NEW YORK | 40,741,343 | ||
New York And New Jersey - 0.1% | |||
Port Auth. of New York & New Jersey: | |||
Series 194, 5.25% 10/15/55 | 210,000 | 217,472 | |
Series 2017 202, 5% 10/15/29 (c) | 500,000 | 531,140 | |
TOTAL NEW YORK AND NEW JERSEY | 748,612 | ||
North Carolina - 0.1% | |||
New Hanover County Hosp. Rev. Series 2017: | |||
5% 10/1/27 (Escrowed to Maturity) | 10,000 | 10,993 | |
5% 10/1/47 (Pre-Refunded to 10/1/27 @ 100) | 70,000 | 76,951 | |
North Carolina Med. Care Commission Health Care Facilities Rev.: | |||
Bonds Series 2019 C, 2.55%, tender 6/1/26 (b) | 300,000 | 293,247 | |
Series 2020 A, 3% 7/1/45 | 365,000 | 273,998 | |
Series 2021 A, 4% 3/1/51 | 280,000 | 196,431 | |
TOTAL NORTH CAROLINA | 851,620 | ||
North Dakota - 0.2% | |||
North Dakota Hsg. Fin. Agcy.: | |||
Series 2021 A, 3% 1/1/52 | 200,000 | 194,112 | |
Series 2021 B, 3% 7/1/52 | 650,000 | 624,813 | |
Univ. of North Dakota Series 2021 A, 3% 6/1/61 (Assured Guaranty Muni. Corp. Insured) | 790,000 | 524,859 | |
TOTAL NORTH DAKOTA | 1,343,784 | ||
Ohio - 5.3% | |||
Akron Bath Copley Hosp. District Rev.: | |||
Series 2016, 5.25% 11/15/46 | 495,000 | 500,137 | |
Series 2020, 4% 11/15/38 | 1,500,000 | 1,342,085 | |
Allen County Hosp. Facilities Rev. (Mercy Health) Series 2017 A: | |||
5% 8/1/25 | 10,000 | 10,502 | |
5% 8/1/26 | 390,000 | 416,470 | |
5% 8/1/27 | 10,000 | 10,840 | |
5% 8/1/28 | 10,000 | 10,952 | |
5% 8/1/29 | 10,000 | 10,949 | |
5% 8/1/30 | 10,000 | 10,936 | |
American Muni. Pwr., Inc. (Solar Electricity Prepayment Proj.) Series 2019 A, 5% 2/15/44 | 175,000 | 181,637 | |
Buckeye Tobacco Settlement Fing. Auth.: | |||
Series 2020 A2: | |||
3% 6/1/48 | 550,000 | 387,122 | |
4% 6/1/48 | 180,000 | 154,027 | |
5% 6/1/34 | 370,000 | 390,351 | |
Series 2020 B2, 5% 6/1/55 | 1,370,000 | 1,189,161 | |
Cleveland Arpt. Sys. Rev. Series 2016 A, 5% 1/1/25 (Assured Guaranty Muni. Corp. Insured) | 145,000 | 150,643 | |
Cleveland Wtr. Rev. Series 2020, 5% 1/1/28 | 800,000 | 886,862 | |
County of Cuyahoga (Ballpark Impt. Proj.) Series 2022 A, 4% 1/1/35 | 8,000,000 | 8,289,271 | |
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013, 4.25% 6/15/24 | 110,000 | 110,028 | |
Franklin County Convention Facilities Auth. (Greater Columbus Convention Ctr. Hotel Expansion Proj.) Series 2019, 5% 12/1/44 | 60,000 | 59,310 | |
Franklin County Convention Facilities Authorities (Greater Columbus Convention Ctr. Hotel Expansion Proj.) Series 2019: | |||
5% 12/1/46 | 200,000 | 214,458 | |
5% 12/1/51 | 200,000 | 213,360 | |
Kent State Univ. Revs. Series 2016, 5% 5/1/30 | 1,495,000 | 1,588,784 | |
Lancaster Port Auth. Gas Rev.: | |||
Bonds Series 2019, 5%, tender 2/1/25 (b) | 255,000 | 259,326 | |
Series 2019, 5% 2/1/25 | 160,000 | 163,055 | |
Middleburg Heights Hosp. Rev. Series 2021 A, 4% 8/1/41 | 430,000 | 398,844 | |
Muskingum County Hosp. Facilities (Genesis Healthcare Sys. Obligated Group Proj.) Series 2013, 4% 2/15/23 | 315,000 | 314,921 | |
Ohio Gen. Oblig.: | |||
Series 2021 A: | |||
5% 3/1/28 | 110,000 | 122,590 | |
5% 3/1/28 | 140,000 | 156,023 | |
5% 3/1/29 | 160,000 | 181,549 | |
5% 3/1/29 | 210,000 | 238,283 | |
5% 3/1/30 | 190,000 | 219,271 | |
5% 3/1/30 | 290,000 | 334,676 | |
Series 2021 B: | |||
5% 2/1/28 | 205,000 | 228,114 | |
5% 2/1/29 | 385,000 | 436,225 | |
5% 2/1/30 | 320,000 | 368,790 | |
Series 2021 C: | |||
5% 3/15/28 | 275,000 | 306,693 | |
5% 3/15/29 | 480,000 | 545,011 | |
5% 3/15/30 | 480,000 | 554,303 | |
Ohio Hosp. Facilities Rev. Series 2021 B: | |||
5% 1/1/25 | 270,000 | 281,252 | |
5% 1/1/26 | 320,000 | 340,445 | |
5% 1/1/27 | 750,000 | 812,907 | |
Ohio Hosp. Rev. Series 2020 A: | |||
4% 1/15/50 | 40,000 | 34,844 | |
5% 1/15/31 | 300,000 | 325,666 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev.: | |||
(Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 | 15,000 | 15,205 | |
Series 2021 C, 3.25% 3/1/51 | 4,710,000 | 4,598,754 | |
Ohio Major New State Infrastructure Rev. Series 2021 1A: | |||
5% 12/15/25 | 800,000 | 853,578 | |
5% 12/15/28 | 1,250,000 | 1,405,817 | |
Ohio Spl. Oblig. Series 2020 A: | |||
5% 2/1/23 | 180,000 | 180,255 | |
5% 2/1/26 | 150,000 | 160,338 | |
Ohio Tpk. Commission Tpk. Rev.: | |||
(Infrastructure Projs.) Series 2022 A: | |||
5% 2/15/32 | 70,000 | 82,473 | |
5% 2/15/38 | 185,000 | 209,655 | |
Series A, 5% 2/15/51 | 600,000 | 637,460 | |
Scioto County Hosp. Facilities Rev. Series 2019, 5% 2/15/29 | 100,000 | 104,334 | |
Univ. of Akron Gen. Receipts Series 2019 A, 4% 1/1/27 | 220,000 | 226,611 | |
Washington County Hosp. Rev. Series 2022: | |||
6% 12/1/28 | 215,000 | 218,231 | |
6% 12/1/29 | 230,000 | 234,101 | |
6% 12/1/30 | 245,000 | 249,473 | |
6% 12/1/31 | 260,000 | 264,185 | |
TOTAL OHIO | 32,191,143 | ||
Oklahoma - 0.1% | |||
Oklahoma City Arpt. Trust Series 33, 5% 7/1/47 (c) | 200,000 | 202,641 | |
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Series 2015 A, 5% 8/15/24 | 250,000 | 256,596 | |
Oklahoma Dev. Fin. Auth. Rev. (Oklahoma City Univ. Proj.) Series 2019: | |||
5% 8/1/23 | 45,000 | 45,135 | |
5% 8/1/44 | 125,000 | 121,030 | |
TOTAL OKLAHOMA | 625,402 | ||
Oregon - 0.4% | |||
Oregon State Hsg. & Cmnty. Svcs. Dept. Series 2019 A, 4% 7/1/50 | 1,090,000 | 1,091,357 | |
Port of Portland Arpt. Rev.: | |||
Series 2020 27A, 5% 7/1/45 (c) | 650,000 | 663,454 | |
Series 27 A, 5% 7/1/36 (c) | 240,000 | 252,617 | |
Salem Hosp. Facility Auth. Rev. (Salem Health Projs.) Series 2019 A, 3% 5/15/49 | 850,000 | 605,594 | |
TOTAL OREGON | 2,613,022 | ||
Pennsylvania - 8.3% | |||
Allegheny County Arpt. Auth. Rev. Series 2021 A: | |||
5% 1/1/51 (c) | 2,105,000 | 2,126,053 | |
5% 1/1/56 (c) | 1,280,000 | 1,288,017 | |
Allegheny County Indl. Dev. Auth. Rev. Series 2021: | |||
3.5% 12/1/31 | 175,000 | 144,394 | |
4% 12/1/41 | 270,000 | 196,182 | |
4.25% 12/1/50 | 300,000 | 205,732 | |
Bucks County Indl. Dev. Auth. Hosp. Rev. Series 2021: | |||
5% 7/1/26 | 475,000 | 488,727 | |
5% 7/1/27 | 475,000 | 490,224 | |
5% 7/1/28 | 525,000 | 542,436 | |
5% 7/1/29 | 550,000 | 567,834 | |
5% 7/1/36 | 120,000 | 117,631 | |
5% 7/1/38 | 240,000 | 232,972 | |
Centre County Pennsylvania Hosp. Auth. Rev. (Mount Nittany Med. Ctr. Proj.) Series 2018 A, 5% 11/15/25 | 100,000 | 105,702 | |
Chartiers Valley School District Series 2021 A, 3% 10/15/49 | 1,155,000 | 853,850 | |
Commonwealth Fing. Auth. Rev. Series 2020 A, 5% 6/1/28 | 305,000 | 336,455 | |
Delaware County Auth. Rev.: | |||
(Cabrini College) Series 2017, 5% 7/1/47 | 510,000 | 469,218 | |
Series 2017, 5% 7/1/28 | 445,000 | 448,302 | |
Doylestown Hosp. Auth. Hosp. Rev. Series 2016 A, 5% 7/1/46 | 20,000 | 16,768 | |
Dubois Hosp. Auth. Hosp. Rev.: | |||
(Penn Highlands Healthcare Proj.) Series 2018: | |||
4% 7/15/37 | 40,000 | 38,707 | |
5% 7/15/36 | 500,000 | 518,686 | |
Series 2020, 4% 7/15/45 | 500,000 | 439,341 | |
Geisinger Auth. Health Sys. Rev. Series 2017 A1, 5% 2/15/45 | 100,000 | 101,894 | |
Lehigh County Gen. Purp. Auth. Rev. (Muhlenberg College Proj.) Series 2017, 5% 2/1/39 | 60,000 | 61,001 | |
Lehigh County Gen. Purp. Hosp. Rev. Series 2016 A, 4% 7/1/35 | 5,060,000 | 4,912,984 | |
Monroeville Fin. Auth. UPMC Rev. Series 2012, 5% 2/15/26 | 95,000 | 100,603 | |
Montgomery County Higher Ed. & Health Auth. Rev.: | |||
Series 2016 A, 5% 10/1/40 | 330,000 | 319,208 | |
Series 2019, 4% 9/1/44 | 185,000 | 167,972 | |
Series 2020, 5% 4/1/27 | 300,000 | 312,797 | |
Montgomery County Indl. Dev. Auth. Series 2015 A, 5.25% 1/15/36 (Pre-Refunded to 1/15/25 @ 100) | 140,000 | 146,404 | |
Northampton County Gen. Purp. Auth. Hosp. Rev.: | |||
(St. Luke's Univ. Health Network Proj.) Series 2018 A, 4% 8/15/48 | 195,000 | 178,091 | |
Series 2016 A, 5% 8/15/46 | 50,000 | 50,227 | |
Pennsylvania Ctfs. Prtn. Series 2018 A: | |||
5% 7/1/23 | 250,000 | 252,271 | |
5% 7/1/24 | 300,000 | 308,662 | |
5% 7/1/26 | 455,000 | 488,028 | |
5% 7/1/27 | 500,000 | 543,717 | |
5% 7/1/34 | 450,000 | 490,955 | |
Pennsylvania Higher Edl. Facilities Auth. Rev. (Drexel Univ. Proj.): | |||
Series 2016, 5% 5/1/35 | 500,000 | 519,268 | |
Series 2017, 5% 5/1/35 | 10,000 | 10,495 | |
Pennsylvania Hsg. Fin. Agcy.: | |||
Series 2021 134B, 5% 10/1/27 (c) | 1,160,000 | 1,232,178 | |
Series 2021 137, 3% 10/1/51 | 895,000 | 853,114 | |
Series 2022 138: | |||
3% 10/1/52 | 1,400,000 | 1,331,601 | |
5% 4/1/26 | 1,100,000 | 1,165,622 | |
5% 10/1/26 | 600,000 | 640,949 | |
5% 4/1/27 | 500,000 | 537,306 | |
5% 10/1/27 | 450,000 | 486,155 | |
5% 4/1/28 | 465,000 | 501,269 | |
5% 10/1/28 | 475,000 | 515,216 | |
5% 4/1/29 | 480,000 | 522,336 | |
5% 10/1/29 | 1,000,000 | 1,094,244 | |
5% 4/1/30 | 1,010,000 | 1,111,192 | |
5% 10/1/30 | 695,000 | 768,703 | |
Pennsylvania Tpk. Commission Tpk. Rev.: | |||
Series 2015 B, 5% 12/1/45 | 265,000 | 270,888 | |
Series 2016 A1, 5% 12/1/41 | 1,215,000 | 1,241,917 | |
Series 2021 A, 4% 12/1/50 | 1,000,000 | 892,793 | |
Series 2021 B: | |||
5% 12/1/28 | 625,000 | 690,577 | |
5% 12/1/29 | 1,000,000 | 1,115,785 | |
Philadelphia Arpt. Rev.: | |||
Series 2017 B: | |||
5% 7/1/35 (c) | 50,000 | 51,657 | |
5% 7/1/47 (c) | 970,000 | 957,298 | |
Series 2020 C, 5% 7/1/29 (c) | 595,000 | 638,569 | |
Series 2021: | |||
5% 7/1/26 (c) | 2,920,000 | 3,060,516 | |
5% 7/1/27 (c) | 4,020,000 | 4,263,585 | |
5% 7/1/28 (c) | 425,000 | 454,316 | |
5% 7/1/34 (c) | 1,000,000 | 1,069,965 | |
5% 7/1/35 (c) | 1,000,000 | 1,061,552 | |
Philadelphia Auth. for Indl. Dev.: | |||
Series 2015 1, 5% 4/1/33 | 70,000 | 72,264 | |
Series 2017 A, 5% 9/1/42 | 760,000 | 773,907 | |
Philadelphia Gas Works Rev. Series 2020 A, 5% 8/1/32 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,122,986 | |
Philadelphia Gen. Oblig.: | |||
Series 2014 A, 5.25% 7/15/27 (Pre-Refunded to 1/15/24 @ 100) | 275,000 | 281,712 | |
Series 2019 A, 5% 8/1/26 | 220,000 | 236,712 | |
Philadelphia School District: | |||
Series 2018 A, 5% 9/1/25 | 50,000 | 52,516 | |
Series 2018 B, 5% 9/1/43 | 50,000 | 52,512 | |
Series 2019 A: | |||
4% 9/1/35 | 170,000 | 169,745 | |
5% 9/1/23 | 90,000 | 91,046 | |
5% 9/1/34 | 80,000 | 87,588 | |
Series 2019 B: | |||
5% 9/1/25 | 140,000 | 147,045 | |
5% 9/1/26 | 415,000 | 442,143 | |
Series 2019 C, 5% 9/1/33 | 315,000 | 346,115 | |
Pittsburgh Wtr. & Swr. Auth. Wtr. & Swr. Sys. Rev. Series 2019 A, 5% 9/1/44 (Assured Guaranty Muni. Corp. Insured) | 70,000 | 74,148 | |
Southcentral Pennsylvania Gen. Auth. Rev.: | |||
(Hanover Hosp., Inc. PA Proj.) Series 2015, 5% 12/1/28 | 45,000 | 46,982 | |
Series 2019 A: | |||
4% 6/1/44 | 50,000 | 47,999 | |
4% 6/1/49 | 115,000 | 106,291 | |
5% 6/1/25 | 200,000 | 209,827 | |
5% 6/1/44 | 85,000 | 87,830 | |
5% 6/1/49 | 135,000 | 138,514 | |
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) | 315,000 | 332,045 | |
Union County Hosp. Auth. Rev. Series 2018 B, 5% 8/1/43 | 185,000 | 188,646 | |
TOTAL PENNSYLVANIA | 50,229,684 | ||
Puerto Rico - 1.0% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth.: | |||
Series 2021 B: | |||
5% 7/1/33 (d) | 250,000 | 241,486 | |
5% 7/1/37 (d) | 960,000 | 906,705 | |
Series 2022 A, 4% 7/1/42 (d) | 960,000 | 769,417 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 2,273,421 | 1,228,922 | |
4% 7/1/33 | 1,608,885 | 1,394,999 | |
4% 7/1/35 | 575,000 | 483,914 | |
5.625% 7/1/27 | 190,000 | 193,585 | |
5.625% 7/1/29 | 999,707 | 1,022,913 | |
TOTAL PUERTO RICO | 6,241,941 | ||
Rhode Island - 0.1% | |||
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev. Series 2016, 5% 5/15/39 | 215,000 | 215,937 | |
Rhode Island Hsg. & Mtg. Fin. Corp. Series 2019 70, 4% 10/1/49 | 35,000 | 35,055 | |
Rhode Island Student Ln. Auth. Student Ln. Rev. Series A: | |||
4% 12/1/26 (c) | 35,000 | 35,373 | |
5% 12/1/23 (c) | 625,000 | 632,946 | |
TOTAL RHODE ISLAND | 919,311 | ||
South Carolina - 0.9% | |||
Charleston County Arpt. District Series 2019, 5% 7/1/48 | 395,000 | 407,304 | |
South Carolina Hsg. Fin. & Dev. Auth. Mtg. Rev. Series 2019 A, 4% 1/1/50 | 55,000 | 55,158 | |
South Carolina Jobs-Econ. Dev. Auth. Series 2019 C, 5% 7/1/33 | 170,000 | 182,306 | |
South Carolina Jobs-Econ. Dev. Auth. Econ. Dev. Rev. Series 2022 A, 4% 4/1/52 | 1,000,000 | 887,373 | |
South Carolina Ports Auth. Ports Rev.: | |||
Series 2015, 5.25% 7/1/55 (Pre-Refunded to 7/1/25 @ 100) (c) | 255,000 | 266,947 | |
Series 2018, 5% 7/1/43 (c) | 520,000 | 533,339 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2016 A: | |||
5% 12/1/26 | 140,000 | 147,907 | |
5% 12/1/29 | 500,000 | 525,967 | |
5% 12/1/33 | 15,000 | 15,616 | |
5% 12/1/38 | 80,000 | 81,301 | |
Series 2016 B: | |||
5% 12/1/31 | 105,000 | 111,036 | |
5% 12/1/35 | 195,000 | 201,420 | |
5% 12/1/41 | 175,000 | 177,898 | |
Series A, 5% 12/1/23 (Escrowed to Maturity) | 145,000 | 147,652 | |
Series B, 5% 12/1/24 | 500,000 | 517,114 | |
Spartanburg County Reg'l. Health Series 2017 A: | |||
4% 4/15/43 | 30,000 | 27,274 | |
4% 4/15/48 | 20,000 | 17,627 | |
5% 4/15/48 | 1,415,000 | 1,441,017 | |
TOTAL SOUTH CAROLINA | 5,744,256 | ||
South Dakota - 0.1% | |||
South Dakota Health & Edl. Facilities Auth. Rev. Series 2020 A, 3% 9/1/45 | 475,000 | 353,985 | |
Tennessee - 1.4% | |||
Chattanooga Health Ed. & Hsg. Facility Board Rev. Series 2019 A1: | |||
4% 8/1/44 | 575,000 | 495,689 | |
5% 8/1/25 | 135,000 | 140,379 | |
Memphis-Shelby County Arpt. Auth. Arpt. Rev. Series 2018: | |||
5% 7/1/26 (c) | 450,000 | 470,450 | |
5% 7/1/37 (c) | 200,000 | 207,264 | |
5% 7/1/38 (c) | 1,315,000 | 1,360,310 | |
Metropolitan Nashville Arpt. Auth. Rev.: | |||
Series 2015 B, 4% 7/1/25 (c) | 55,000 | 55,734 | |
Series 2019 B: | |||
5% 7/1/38 (c) | 655,000 | 682,862 | |
5% 7/1/54 (c) | 225,000 | 226,336 | |
Nashville and Davidson County Metropolitan Govt. Gen. Oblig. Series 2021 C, 5% 1/1/30 | 2,400,000 | 2,747,275 | |
Nashville and Davidson County Metropolitan Govt. Health & Edl. Facilities Board Rev. (Lipscomb Univ. Proj.) Series 2019 A, 4% 10/1/49 | 1,000,000 | 770,675 | |
Tennessee Energy Acquisition Corp. Bonds (Gas Rev. Proj.) Series A, 4%, tender 5/1/23 (b) | 460,000 | 460,744 | |
Tennessee Hsg. Dev. Agcy. Residential: | |||
Series 2021 1, 3% 7/1/51 | 600,000 | 583,254 | |
Series 2021 3A, 3% 1/1/52 | 265,000 | 256,289 | |
TOTAL TENNESSEE | 8,457,261 | ||
Texas - 4.3% | |||
Austin Cmnty. College District Rev. (Highland Campus Parking Garage Proj.) Series 2018 C: | |||
5% 8/1/25 | 200,000 | 211,465 | |
5% 8/1/26 | 200,000 | 215,547 | |
Central Reg'l. Mobility Auth.: | |||
Series 2020 B, 5% 1/1/45 | 1,000,000 | 1,031,562 | |
Series 2021 B: | |||
5% 1/1/33 | 640,000 | 701,875 | |
5% 1/1/34 | 650,000 | 708,906 | |
5% 1/1/35 | 550,000 | 595,207 | |
5% 1/1/36 | 850,000 | 913,171 | |
5% 1/1/37 | 1,100,000 | 1,172,177 | |
5% 1/1/38 | 1,100,000 | 1,166,956 | |
Series 2021 C, 5% 1/1/27 | 775,000 | 813,681 | |
Dallas Fort Worth Int'l. Arpt. Rev. Series 2014 A, 5.25% 11/1/27 (c) | 180,000 | 182,367 | |
Denton Independent School District Bonds Series 2014 B: | |||
2%, tender 8/1/24 (b) | 15,000 | 14,834 | |
2%, tender 8/1/24 (b) | 85,000 | 82,869 | |
Fort Bend Independent School District Bonds Series 2021 B, 0.72%, tender 8/1/26 (b) | 410,000 | 364,556 | |
Garland Elec. Util. Sys. Rev. Series 2021 A: | |||
4% 3/1/35 | 765,000 | 781,412 | |
4% 3/1/36 | 750,000 | 755,485 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Series 2015, 4% 12/1/45 | 220,000 | 203,794 | |
Harris County Flood Cont. District Series 2021 A: | |||
5% 10/1/25 | 690,000 | 733,555 | |
5% 10/1/26 | 900,000 | 976,352 | |
Houston Arpt. Sys. Rev.: | |||
Series 2018 A, 5% 7/1/41 (c) | 1,000,000 | 1,024,983 | |
Series 2018 C: | |||
5% 7/1/26 (c) | 200,000 | 210,431 | |
5% 7/1/30 (c) | 120,000 | 127,525 | |
Series 2018 D, 5% 7/1/39 | 260,000 | 274,067 | |
Houston City of Higher Ed. Fin. Corp. (Houston Baptist Univ. Proj.) Series 2021: | |||
3.375% 10/1/37 | 500,000 | 411,745 | |
4% 10/1/51 | 1,200,000 | 954,972 | |
Houston Gen. Oblig. Series 2017 A, 5% 3/1/32 | 25,000 | 26,965 | |
Houston Util. Sys. Rev.: | |||
Series 2016 B, 5% 11/15/34 | 5,000 | 5,318 | |
Series 2020 C, 5% 11/15/45 | 1,000,000 | 1,068,991 | |
Series 2021 A, 5% 11/15/26 | 445,000 | 482,551 | |
Love Field Arpt. Modernization Rev.: | |||
Series 2015, 5% 11/1/30 (c) | 320,000 | 330,798 | |
Series 2017, 5% 11/1/31 (c) | 25,000 | 26,092 | |
Lower Colorado River Auth. Rev. (LCRA Transmission Svcs. Corp. Proj.) Series 2020, 5% 5/15/24 | 300,000 | 307,840 | |
Midlothian Independent School District Bonds Series 2013 C, 2%, tender 8/1/24 (b) | 100,000 | 97,612 | |
New Hope Cultural Ed. Facilities Fin. Corp. (Childrens Med. Ctr. of Dallas) Series 2017 A: | |||
5% 8/15/27 | 10,000 | 10,905 | |
5% 8/15/47 | 10,000 | 10,237 | |
North Texas Tollway Auth. Rev.: | |||
Series 2019 B, 5% 1/1/25 | 85,000 | 88,224 | |
Series 2021 B, 4% 1/1/32 | 2,000,000 | 2,099,242 | |
San Antonio Elec. & Gas Sys. Rev. Series 2017, 5% 2/1/33 | 5,000 | 5,394 | |
San Antonio Wtr. Sys. Rev.: | |||
Series 2018 A, 5% 5/15/33 | 5,000 | 5,511 | |
Series 2020 A, 5% 5/15/50 | 475,000 | 502,194 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev.: | |||
Series 2017 A, 5% 2/15/24 | 265,000 | 270,849 | |
Series 2018 A, 5% 7/1/29 | 305,000 | 333,155 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Series 2019, 2.95% 7/1/36 | 123,931 | 110,324 | |
Texas Dept. of Hsg. & Cmnty. Affairs Single Family Mtg. Rev.: | |||
Series 2019 A, 4% 3/1/50 | 100,000 | 100,319 | |
Series A, 3.5% 3/1/51 | 150,000 | 147,792 | |
Texas Private Activity Bond Surface Trans. Corp. (LBJ Infrastructure Group LLC I-635 Managed Lanes Proj.) Series 2020 A, 4% 6/30/37 | 1,000,000 | 943,996 | |
Texas Trans. Commission Series 2019 A, 0% 8/1/41 | 250,000 | 91,390 | |
Texas Trans. Commission Hwy. Impt. Gen. Oblig. Bonds Series 2014 B, 0.65%, tender 4/1/26 (b) | 2,380,000 | 2,166,170 | |
Univ. of North Texas Univ. Rev. Series 2022 A, 5% 4/15/47 | 2,000,000 | 2,101,608 | |
TOTAL TEXAS | 25,962,971 | ||
Utah - 0.1% | |||
Salt Lake City Arpt. Rev.: | |||
Series 2017 A, 5% 7/1/37 (c) | 385,000 | 396,354 | |
Series 2018 A: | |||
5% 7/1/33 (c) | 175,000 | 184,576 | |
5.25% 7/1/48 (c) | 130,000 | 133,032 | |
TOTAL UTAH | 713,962 | ||
Vermont - 0.3% | |||
Vermont Hsg. Fin. Agcy. Series 2021 B, 3% 11/1/51 | 317,000 | 303,406 | |
Vermont Student Assistant Corp. Ed. Ln. Rev.: | |||
Series 2019 A, 5% 6/15/25 (c) | 635,000 | 657,299 | |
Series 2020 A, 5% 6/15/26 (c) | 620,000 | 650,294 | |
TOTAL VERMONT | 1,610,999 | ||
Virginia - 1.5% | |||
Fairfax County Indl. Dev. Auth. Bonds (Inova Health Sys. Proj.) Series 2018 B, 5%, tender 5/15/23 (b) | 2,000,000 | 2,012,397 | |
Lynchburg Econ. Dev. Series 2021, 3% 1/1/51 | 425,000 | 293,391 | |
Roanoke Econ. Dev. Auth. Edl. Facilities Series 2018 A: | |||
5% 9/1/23 | 360,000 | 363,127 | |
5% 9/1/24 | 315,000 | 321,828 | |
Salem Econ. Dev. Auth. Series 2020: | |||
4% 4/1/40 | 120,000 | 107,446 | |
5% 4/1/25 | 165,000 | 169,547 | |
5% 4/1/36 | 500,000 | 516,930 | |
Virginia College Bldg. Auth. Edl. Facilities Rev.: | |||
(21St Century Collage and Equip. Programs) Series 2021 A: | |||
4% 2/1/34 | 1,850,000 | 1,942,383 | |
4% 2/1/35 | 1,700,000 | 1,766,950 | |
Series 2019 A, 3% 2/1/36 | 195,000 | 177,966 | |
Virginia Small Bus. Fing. Auth. (Elizabeth River Crossings OpCo, LLC Proj.) Series 2022, 4% 7/1/34 (c) | 1,465,000 | 1,428,161 | |
Wise County Indl. Dev. Auth. Waste & Sewage Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2010 A, 1.2%, tender 5/31/24 (b) | 125,000 | 119,267 | |
TOTAL VIRGINIA | 9,219,393 | ||
Washington - 2.7% | |||
King County Hsg. Auth. Rev. Series 2021, 4% 12/1/29 | 230,000 | 238,095 | |
King County Swr. Rev. Series 2017, 5% 7/1/34 | 10,000 | 10,861 | |
Port of Seattle Rev.: | |||
Series 2013, 5% 7/1/24 (c) | 55,000 | 55,410 | |
Series 2015 B, 5% 3/1/25 | 70,000 | 72,397 | |
Series 2015 C, 5% 4/1/24 (c) | 50,000 | 50,902 | |
Series 2018 A, 5% 5/1/31 (c) | 350,000 | 370,047 | |
Series 2019 A, 4% 4/1/44 (c) | 100,000 | 88,706 | |
Series 2021 C: | |||
5% 8/1/24 (c) | 445,000 | 455,528 | |
5% 8/1/25 (c) | 365,000 | 379,910 | |
5% 8/1/26 (c) | 495,000 | 521,376 | |
5% 8/1/27 (c) | 305,000 | 324,445 | |
5% 8/1/28 (c) | 860,000 | 921,896 | |
Seattle Hsg. Auth. Rev. (Northgate Plaza Proj.) Series 2021, 1% 6/1/26 | 200,000 | 181,938 | |
Spokane Pub. Facilities District Hotel/Motel Tax & Sales/Use Tax Rev. Series 2017, 5% 12/1/41 | 295,000 | 306,456 | |
Washington Convention Ctr. Pub. Facilities: | |||
Series 2021 B, 3% 7/1/58 (Assured Guaranty Muni. Corp. Insured) | 1,805,000 | 1,209,394 | |
Series 2021, 4% 7/1/31 | 2,540,000 | 2,323,205 | |
Washington Gen. Oblig. Series 2021 C, 5% 2/1/44 | 3,010,000 | 3,261,810 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Overlake Hosp. Med. Ctr., WA. Proj.) Series 2017 B: | |||
5% 7/1/25 | 5,000 | 5,216 | |
5% 7/1/30 | 5,000 | 5,299 | |
5% 7/1/31 | 10,000 | 10,546 | |
5% 7/1/42 | 100,000 | 100,698 | |
Series 2017, 4% 8/15/42 | 100,000 | 90,128 | |
Series 2019 A2, 5% 8/1/44 | 255,000 | 255,452 | |
Series 2020, 5% 9/1/40 | 735,000 | 764,549 | |
Washington Higher Ed. Facilities Auth. Rev.: | |||
(Gonzaga Univ. Proj.) Series 2019 A, 3% 4/1/49 | 720,000 | 509,451 | |
(Whitworth Univ. Proj.) Series 2016 A, 5% 10/1/25 | 550,000 | 568,184 | |
Washington Hsg. Fin. Commission Series 2021 2N: | |||
5% 6/1/26 | 970,000 | 1,035,544 | |
5% 12/1/27 | 985,000 | 1,076,049 | |
5% 12/1/28 | 500,000 | 553,317 | |
5% 12/1/29 | 500,000 | 556,250 | |
Washington Hsg. Fin. Commission Nonprofit Hsg. Rev. (Judson Park Proj.) Series 2018, 5% 7/1/38 (d) | 100,000 | 88,891 | |
TOTAL WASHINGTON | 16,391,950 | ||
West Virginia - 0.0% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 A, 5% 1/1/32 | 50,000 | 52,291 | |
Wisconsin - 1.1% | |||
Blue Ridge Healthcare Pub. Fin. Auth. Series 2020 A, 5% 1/1/31 | 60,000 | 64,845 | |
Pub. Fin. Auth. Edl. Facilities Series 2018 A: | |||
5.25% 10/1/43 | 160,000 | 156,078 | |
5.25% 10/1/48 | 160,000 | 152,560 | |
Pub. Fin. Auth. Hosp. Rev. Series 2019 A, 5% 10/1/44 | 355,000 | 360,728 | |
Pub. Fin. Auth. Wisconsin Retirement Facility Rev. Series 2018: | |||
5% 10/1/43 (d) | 15,000 | 12,914 | |
5% 10/1/48 (d) | 20,000 | 16,663 | |
5% 10/1/53 (d) | 30,000 | 24,484 | |
Roseman Univ. of Health: | |||
(Roseman Univ. of Health Sciences Proj.) Series 2020, 5% 4/1/40 (d) | 100,000 | 94,788 | |
Series 2020, 3% 4/1/25 (d) | 325,000 | 311,959 | |
Series 2021 A: | |||
3% 7/1/50 | 380,000 | 267,339 | |
4.5% 6/1/56 (d) | 1,870,000 | 1,353,715 | |
Series 2021 B, 6.5% 6/1/56 (d) | 500,000 | 396,181 | |
Wisconsin Gen. Oblig. Series 2021 A, 5% 5/1/32 | 1,430,000 | 1,597,208 | |
Wisconsin Health & Edl. Facilities: | |||
Series 2016 A: | |||
4% 11/15/46 | 195,000 | 178,906 | |
4% 11/15/46 (Pre-Refunded to 5/15/26 @ 100) | 80,000 | 82,560 | |
Series 2019 A: | |||
5% 12/1/28 | 150,000 | 163,284 | |
5% 12/1/29 | 150,000 | 165,213 | |
Series 2019 B1, 2.825% 11/1/28 | 50,000 | 44,211 | |
Series 2019 B2, 2.55% 11/1/27 | 30,000 | 28,145 | |
Series 2019: | |||
5% 10/1/24 | 175,000 | 180,966 | |
5% 10/1/30 | 195,000 | 214,535 | |
Wisconsin Hsg. & Econ. Dev. Auth.: | |||
Series 2021 A, 3% 3/1/52 | 195,000 | 188,869 | |
Series 2021 C, 3% 9/1/52 | 380,000 | 367,452 | |
Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev. Bonds Series 2021 C: | |||
0.61%, tender 5/1/24 (b) | 65,000 | 61,875 | |
0.81%, tender 5/1/25 (b) | 225,000 | 212,035 | |
TOTAL WISCONSIN | 6,697,513 | ||
Wyoming - 0.4% | |||
Wyoming Cmnty. Dev. Auth. Hsg. Rev. Series 2022 3: | |||
5% 6/1/24 (c) | 675,000 | 691,866 | |
5% 12/1/24 (c) | 695,000 | 718,788 | |
5% 6/1/25 (c) | 700,000 | 729,581 | |
5% 12/1/25 (c) | 375,000 | 393,954 | |
TOTAL WYOMING | 2,534,189 | ||
TOTAL MUNICIPAL BONDS (Cost $637,312,781) | 585,910,839 | ||
Money Market Funds - 2.9% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.72% (f)(g) (Cost $17,796,005) | 17,792,442 | 17,795,993 | |
TOTAL INVESTMENT IN SECURITIES - 99.2% (Cost $655,108,786) | 603,706,832 |
NET OTHER ASSETS (LIABILITIES) - 0.8% | 4,914,264 |
NET ASSETS - 100.0% | 608,621,096 |
(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 $5,247,814 or 0.9% of net assets. |
(e) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(f) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 3.72% | - | 153,638,993 | 135,843,000 | 205,651 | - | - | 17,795,993 | 0.7% |
Total | - | 153,638,993 | 135,843,000 | 205,651 | - | - | 17,795,993 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 585,910,839 | - | 585,910,839 | - |
Money Market Funds | 17,795,993 | 17,795,993 | - | - |
Total Investments in Securities: | 603,706,832 | 17,795,993 | 585,910,839 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $637,312,781) | $585,910,839 | |||
Fidelity Central Funds (cost $17,796,005) | 17,795,993 | |||
Total Investment in Securities (cost $655,108,786) | $ | 603,706,832 | ||
Cash | 702,751 | |||
Receivable for fund shares sold | 613,751 | |||
Interest receivable | 7,486,520 | |||
Distributions receivable from Fidelity Central Funds | 64,504 | |||
Other receivables | 269 | |||
Total assets | 612,574,627 | |||
Liabilities | ||||
Payable for investments purchased on a delayed delivery basis | $2,225,331 | |||
Payable for fund shares redeemed | 420,416 | |||
Distributions payable | 1,307,784 | |||
Total Liabilities | 3,953,531 | |||
Net Assets | $ | 608,621,096 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 666,670,554 | ||
Total accumulated earnings (loss) | (58,049,458) | |||
Net Assets | $ | 608,621,096 | ||
Net Asset Value , offering price and redemption price per share ($608,621,096 ÷ 64,435,082 shares) | $ | 9.45 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 12,516,451 | ||
Income from Fidelity Central Funds | 205,337 | |||
Total Income | 12,721,788 | |||
Expenses | ||||
Independent trustees' fees and expenses | 1,970 | |||
Total expenses before reductions | 1,970 | |||
Expense reductions | (1,687) | |||
Total expenses after reductions | 283 | |||
Net Investment income (loss) | 12,721,505 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (6,696,733) | |||
Capital gain distributions from Fidelity Central Funds | 314 | |||
Total net realized gain (loss) | (6,696,419) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (64,898,138) | |||
Net gain (loss) | (71,594,557) | |||
Net increase (decrease) in net assets resulting from operations | $ | (58,873,052) |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,721,505 | $ | 8,058,982 |
Net realized gain (loss) | (6,696,419) | 206,929 | ||
Change in net unrealized appreciation (depreciation) | (64,898,138) | 2,167,623 | ||
Net increase (decrease) in net assets resulting from operations | (58,873,052) | 10,433,534 | ||
Distributions to shareholders | (12,667,680) | (8,295,176) | ||
Share transactions | ||||
Proceeds from sales of shares | 299,711,432 | 485,618,087 | ||
Reinvestment of distributions | 13 | 13 | ||
Cost of shares redeemed | (263,494,616) | (155,810,090) | ||
Net increase (decrease) in net assets resulting from share transactions | 36,216,829 | 329,808,010 | ||
Total increase (decrease) in net assets | (35,323,903) | 331,946,368 | ||
Net Assets | ||||
Beginning of period | 643,944,999 | 311,998,631 | ||
End of period | $ | 608,621,096 | $ | 643,944,999 |
Other Information | ||||
Shares | ||||
Sold | 30,761,210 | 46,004,101 | ||
Issued in reinvestment of distributions | 1 | 1 | ||
Redeemed | (27,284,108) | (14,763,396) | ||
Net increase (decrease) | 3,477,103 | 31,240,706 | ||
Fidelity Flex® Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.56 | $ | 10.50 | $ | 10.35 | $ | 9.85 | $ | 10.04 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .200 | .173 | .232 | .275 | .261 | |||||
Net realized and unrealized gain (loss) | (1.111) | .068 | .153 | .531 | (.193) | |||||
Total from investment operations | (.911) | .241 | .385 | .806 | .068 | |||||
Distributions from net investment income | (.199) | (.177) | (.235) | (.278) | (.258) | |||||
Distributions from net realized gain | - | (.004) | - | (.028) | - | |||||
Total distributions | (.199) | (.181) | (.235) | (.306) | (.258) | |||||
Net asset value, end of period | $ | 9.45 | $ | 10.56 | $ | 10.50 | $ | 10.35 | $ | 9.85 |
Total Return C | (8.63)% | 2.31% | 3.79% | 8.26% | .71% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions F | -% | -% | -% | -% | -% | |||||
Expenses net of fee waivers, if any F | -% | -% | -% | -% | -% | |||||
Expenses net of all reductions F | -% | -% | -% | -% | -% | |||||
Net investment income (loss) | 2.07% | 1.65% | 2.26% | 2.70% | 2.69% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 608,621 | $ | 643,945 | $ | 311,999 | $ | 188,914 | $ | 110,680 |
Portfolio turnover rate G | 16% | 5% | 24% | 18% | 73% |
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 | $ 2,412,281 |
Gross unrealized depreciation | (53,750,549) |
Net unrealized appreciation (depreciation) | $(51,338,268) |
Tax Cost | $655,045,100 |
Capital loss carryforward | $(6,700,516) |
Net unrealized appreciation (depreciation) on securities and other investments | $(51,338,268) |
Short-term | $(2,850,551) |
Long-term | $(3,849,965) |
Total capital loss carryforward | $(6,700,516) |
December 31, 2022 | December 31, 2021 | |
Tax-exempt Income | $12,667,680 | $8,058,787 |
Long-term Capital Gains | - | 236,389 |
Total | $12,667,680 | $8,295,176 |
Purchases ($) | Sales ($) | |
Fidelity Flex Municipal Income Fund | 191,976,293 | 90,953,508 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity Flex® Municipal Income Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,005.30 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,025.21 | $- E | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl.4.00% sales charge) | -14.06% | -0.04% | 1.67% |
Class M (incl.4.00% sales charge) | -14.04% | -0.01% | 1.69% |
Class C (incl. contingent deferred sales charge) | -12.01% | 0.06% | 1.73% |
Fidelity® Municipal Income Fund | -10.18% | 1.12% | 2.26% |
Class I | -10.26% | 1.02% | 2.21% |
Class Z | -10.22% | 1.12% | 2.26% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Municipal Income Fund, a class of the fund, on December 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Top Five States (% of Fund's net assets) | |
Illinois | 17.2 |
Pennsylvania | 8.6 |
New York | 6.8 |
Florida | 6.5 |
New Jersey | 4.8 |
Revenue Sources (% of Fund's net assets) | ||
Health Care | 25.0% | |
Transportation | 24.0% | |
General Obligations | 21.4% | |
Education | 8.5% | |
Special Tax | 6.8% | |
Others* (Individually Less Than 5%) | 14.3% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 97.0% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 0.8% | |||
Auburn Univ. Gen. Fee Rev. Series 2018 A, 5% 6/1/43 | 2,565 | 2,730 | |
Jefferson County Gen. Oblig. Series 2018 A, 5% 4/1/26 | 2,400 | 2,558 | |
Montgomery Med. Clinic Facilities Series 2015, 5% 3/1/33 | 4,140 | 4,016 | |
Southeast Energy Auth. Rev. Bonds: | |||
(Proj. No. 2) Series 2021 B1: | |||
4% 6/1/29 | 1,475 | 1,464 | |
4% 6/1/30 | 1,115 | 1,099 | |
4% 6/1/31 | 975 | 954 | |
Bonds (Proj. No. 2) Series 2021 B1, 4%, tender 12/1/31 (b) | 23,655 | 22,815 | |
TOTAL ALABAMA | 35,636 | ||
Arizona - 1.8% | |||
Arizona Health Facilities Auth. Rev. (Banner Health Sys. Proj.) Series 2007 B, 3 month U.S. LIBOR + 0.810% 3.318%, tender 1/1/37 (b)(c) | 2,485 | 2,308 | |
Arizona Indl. Dev. Auth. Hosp. Rev. Series 2021 A: | |||
5% 2/1/30 | 1,300 | 1,469 | |
5% 2/1/31 | 1,250 | 1,432 | |
5% 2/1/32 | 1,250 | 1,446 | |
Arizona Indl. Dev. Auth. Rev. (Provident Group-Eastern Michigan Univ. Parking Proj.) Series 2018: | |||
5% 5/1/48 | 910 | 613 | |
5% 5/1/51 | 910 | 601 | |
Glendale Gen. Oblig. Series 2017: | |||
5% 7/1/30 | 2,080 | 2,276 | |
5% 7/1/31 | 3,105 | 3,386 | |
Glendale Indl. Dev. Auth. (Terraces of Phoenix Proj.) Series 2018 A: | |||
5% 7/1/38 | 235 | 205 | |
5% 7/1/48 | 295 | 239 | |
Maricopa County Indl. Dev. Auth. (Creighton Univ. Proj.) Series 2020, 5% 7/1/47 | 2,400 | 2,513 | |
Maricopa County Indl. Dev. Auth. Sr. Living Facilities Series 2016: | |||
5.75% 1/1/36 (d) | 2,140 | 1,659 | |
6% 1/1/48 (d) | 5,260 | 3,697 | |
Maricopa County Rev.: | |||
Series 2016 A: | |||
5% 1/1/32 | 8,280 | 8,828 | |
5% 1/1/33 | 4,965 | 5,286 | |
Series 2017 D, 3% 1/1/48 | 5,970 | 4,399 | |
Series 2019 E, 3% 1/1/49 | 3,535 | 2,587 | |
Phoenix Civic Impt. Board Arpt. Rev.: | |||
Series 2017 A: | |||
5% 7/1/33 (e) | 910 | 955 | |
5% 7/1/36 (e) | 1,450 | 1,505 | |
5% 7/1/37 (e) | 1,075 | 1,111 | |
Series 2017 B: | |||
5% 7/1/29 | 2,070 | 2,263 | |
5% 7/1/33 | 2,900 | 3,149 | |
5% 7/1/36 | 3,310 | 3,518 | |
5% 7/1/37 | 2,070 | 2,187 | |
Phoenix Civic Impt. Corp. Series 2019 A, 5% 7/1/45 | 6,100 | 6,368 | |
Phoenix IDA Student Hsg. Rev. (Downtown Phoenix Student Hsg. II LLC Arizona State Univ. Proj.) Series 2019 A: | |||
5% 7/1/44 | 1,000 | 971 | |
5% 7/1/49 | 1,125 | 1,071 | |
5% 7/1/54 | 1,330 | 1,254 | |
5% 7/1/59 | 2,000 | 1,864 | |
Salt Verde Finl. Corp. Sr. Gas Rev. Series 2007, 5.5% 12/1/29 | 7,370 | 7,892 | |
TOTAL ARIZONA | 77,052 | ||
California - 4.2% | |||
ABC Unified School District Series 1997 C, 0% 8/1/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 3,250 | 2,733 | |
California Gen. Oblig.: | |||
Series 2004: | |||
5.25% 12/1/33 | 150 | 150 | |
5.5% 4/1/28 | 10 | 10 | |
5.5% 4/1/30 | 5 | 5 | |
Series 2021, 5% 10/1/37 | 7,740 | 8,743 | |
California Hsg. Fin. Agcy. Series 2021 1, 3.5% 11/20/35 | 2,007 | 1,816 | |
California Muni. Fin. Auth. Student Hsg. (CHF-Davis I, LLC - West Village Student Hsg. Proj.) Series 2018, 5% 5/15/38 | 7,200 | 7,313 | |
California Pub. Fin. Auth. Univ. Hsg. Rev.: | |||
(Claremont Colleges Proj.) Series 2017 A: | |||
5% 7/1/27 (d) | 920 | 891 | |
5% 7/1/37 (d) | 1,525 | 1,475 | |
(NCCD - Claremont Properties LLC - Claremont Colleges Proj.) Series 2017 A, 5% 7/1/47 (d) | 335 | 324 | |
California Pub. Works Board Lease Rev. (Various Cap. Projs.) Series 2022 C: | |||
5% 8/1/31 | 1,365 | 1,610 | |
5% 8/1/34 | 2,535 | 2,945 | |
California Statewide Cmntys. Dev. Auth. Rev.: | |||
Series 2015, 5% 2/1/45 | 2,695 | 1,987 | |
Series 2018 A, 5% 3/1/42 | 195 | 199 | |
Eastern Muni. Wtr. District Fing. Auth. Series 2020 A: | |||
4% 7/1/38 | 1,400 | 1,410 | |
5% 7/1/36 | 1,600 | 1,810 | |
5% 7/1/37 | 1,000 | 1,121 | |
Folsom Cordova Union School District No. 4 Series A, 0% 10/1/31 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,520 | 1,118 | |
Kern Cmnty. College District Gen. Oblig. Series 2006: | |||
0% 11/1/28 (Assured Guaranty Muni. Corp. Insured) | 4,100 | 3,389 | |
0% 11/1/30 (Assured Guaranty Muni. Corp. Insured) | 4,140 | 3,171 | |
Long Beach Unified School District Series 2009, 5.5% 8/1/29 | 155 | 155 | |
Los Angeles Dept. Arpt. Rev.: | |||
Series 2020 C, 5% 5/15/45 (e) | 2,900 | 2,992 | |
Series 2021 D: | |||
5% 5/15/35 (e) | 1,610 | 1,733 | |
5% 5/15/35 (Pre-Refunded to 11/15/31 @ 100) (e) | 90 | 105 | |
Los Angeles Hbr. Dept. Rev. Series 2019 A: | |||
5% 8/1/25 (e) | 3,515 | 3,677 | |
5% 8/1/26 (e) | 1,350 | 1,436 | |
Monrovia Unified School District Series B, 0% 8/1/29 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 3,745 | 2,979 | |
Mount Diablo Unified School District Series 2022 B: | |||
4% 8/1/29 | 1,595 | 1,725 | |
4% 8/1/30 | 465 | 504 | |
4% 8/1/32 | 2,900 | 3,147 | |
Oakland Unified School District Alameda County Series 2015 A, 5% 8/1/29 | 1,450 | 1,532 | |
Poway Unified School District: | |||
(District #2007-1 School Facilities Proj.) Series 2008 A, 0% 8/1/32 | 4,885 | 3,458 | |
Series 2011, 0% 8/1/46 | 950 | 297 | |
Series B: | |||
0% 8/1/37 | 6,455 | 3,462 | |
0% 8/1/39 | 19,705 | 9,430 | |
Poway Unified School District Pub. Fing. Series 2015 A: | |||
5% 9/1/24 | 825 | 845 | |
5% 9/1/26 | 1,050 | 1,095 | |
5% 9/1/29 | 2,185 | 2,269 | |
5% 9/1/31 | 985 | 1,017 | |
Sacramento City Fing. Auth. Rev. Series A, 0% 12/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 4,140 | 3,648 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Series 2021 B: | |||
5% 7/1/46 (e) | 10,000 | 10,208 | |
5% 7/1/56 (e) | 7,000 | 7,046 | |
San Diego Unified School District: | |||
Series 2008 C, 0% 7/1/34 | 2,980 | 1,980 | |
Series 2008 E, 0% 7/1/47 (f) | 7,205 | 5,162 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
Series 2019 A, 5% 5/1/49 (e) | 1,000 | 1,013 | |
Series 2019 B, 5% 5/1/49 | 3,765 | 3,972 | |
Series 2022 A: | �� | ||
5% 5/1/26 (e) | 6,315 | 6,629 | |
5% 5/1/27 (e) | 6,395 | 6,774 | |
5% 5/1/28 (e) | 8,530 | 9,102 | |
5% 5/1/29 (e) | 5,710 | 6,135 | |
Series 2022 B, 5% 5/1/52 | 17,310 | 18,584 | |
San Marcos Unified School District Series 2010 B, 0% 8/1/47 | 17,635 | 5,652 | |
San Mateo County Cmnty. College District Series A, 0% 9/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 4,495 | 4,066 | |
Washington Township Health Care District Gen. Oblig. Series 2013 A, 5.5% 8/1/38 | 3,725 | 3,846 | |
TOTAL CALIFORNIA | 177,895 | ||
Colorado - 2.2% | |||
Arkansas River Pwr. Auth. Rev. Series 2018 A: | |||
5% 10/1/38 | 2,080 | 2,083 | |
5% 10/1/43 | 2,600 | 2,548 | |
Colorado Health Facilities Auth. Rev. Bonds: | |||
(Parkview Med. Ctr., Inc. Proj.) Series 2016: | |||
4% 9/1/35 | 1,365 | 1,328 | |
4% 9/1/36 | 1,075 | 1,025 | |
5% 9/1/46 | 6,045 | 6,101 | |
Series 2019 A1, 4% 8/1/44 | 4,395 | 3,789 | |
Series 2019 A2: | |||
3.25% 8/1/49 | 4,110 | 2,909 | |
4% 8/1/49 | 17,455 | 14,640 | |
5% 8/1/37 | 1,000 | 1,038 | |
5% 8/1/44 | 6,145 | 6,156 | |
Series 2020 A, 4% 9/1/50 | 1,525 | 1,244 | |
Colorado Hsg. & Fin. Auth. Series 2019 H, 4.25% 11/1/49 | 1,075 | 1,085 | |
Denver City & County Arpt. Rev.: | |||
Series 2017 A: | |||
5% 11/15/26 (e) | 2,855 | 3,018 | |
5% 11/15/27 (e) | 2,440 | 2,601 | |
Series 2018 A: | |||
5% 12/1/34 (e) | 4,245 | 4,662 | |
5% 12/1/36 (e) | 4,140 | 4,323 | |
5% 12/1/37 (e) | 8,280 | 8,618 | |
Series 2022 A: | |||
5% 11/15/33 (e) | 1,185 | 1,301 | |
5% 11/15/36 (e) | 10,000 | 10,721 | |
5.5% 11/15/38 (e) | 12,500 | 13,770 | |
TOTAL COLORADO | 92,960 | ||
Connecticut - 1.8% | |||
Connecticut Gen. Oblig.: | |||
Series 2015 B, 5% 6/15/32 | 1,895 | 1,991 | |
Series 2020 A: | |||
4% 1/15/34 | 8,385 | 8,730 | |
4% 1/15/38 | 1,000 | 996 | |
Series 2021 A: | |||
3% 1/15/35 | 1,000 | 921 | |
3% 1/15/39 | 1,475 | 1,252 | |
3% 1/15/40 | 1,770 | 1,469 | |
Series 2021 B: | |||
3% 6/1/38 | 1,850 | 1,598 | |
3% 6/1/40 | 1,740 | 1,441 | |
4% 1/15/39 | 3,305 | 3,238 | |
Series 2022 B, 3% 1/15/40 | 3,710 | 3,080 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
(Sacred Heart Univ., CT. Proj.) Series 2017 I-1: | |||
5% 7/1/26 | 415 | 442 | |
5% 7/1/27 | 290 | 313 | |
5% 7/1/28 | 525 | 564 | |
5% 7/1/29 | 330 | 354 | |
Series 2016 K, 4% 7/1/46 | 7,315 | 6,338 | |
Series 2018 K-3, 5% 7/1/36 | 895 | 888 | |
Series 2019 A: | |||
5% 7/1/39 (d) | 3,930 | 3,497 | |
5% 7/1/49 (d) | 285 | 237 | |
Series 2020 A: | |||
4% 7/1/37 | 2,500 | 2,419 | |
4% 7/1/38 | 1,120 | 1,075 | |
5% 7/1/32 | 2,000 | 2,173 | |
5% 7/1/34 | 3,500 | 3,751 | |
Series 2020 K, 5% 7/1/44 (d) | 1,525 | 1,415 | |
Series 2021 S, 4% 6/1/51 | 1,675 | 1,464 | |
Series 2022 M: | |||
4% 7/1/36 | 4,000 | 3,813 | |
4% 7/1/52 | 2,515 | 2,247 | |
Series G, 5% 7/1/50 (d) | 1,800 | 1,629 | |
Series K1: | |||
5% 7/1/27 | 415 | 422 | |
5% 7/1/29 | 1,060 | 1,079 | |
5% 7/1/30 | 830 | 843 | |
5% 7/1/31 | 1,400 | 1,419 | |
5% 7/1/32 | 1,000 | 1,011 | |
5% 7/1/33 | 2,500 | 2,523 | |
5% 7/1/34 | 620 | 624 | |
Connecticut Hsg. Fin. Auth. Series 2021 B1, 3% 11/15/49 | 1,820 | 1,763 | |
Hbr. Point Infrastructure Impt. District Series 2017: | |||
5% 4/1/30 (d) | 3,785 | 3,806 | |
5% 4/1/39 (d) | 4,865 | 4,709 | |
New Britain Gen. Oblig. Series 2017 C, 5% 3/1/29 (Assured Guaranty Muni. Corp. Insured) | 885 | 953 | |
TOTAL CONNECTICUT | 76,487 | ||
District Of Columbia - 1.2% | |||
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev.: | |||
(Dulles Metrorail and Cap. Impt. Proj.) Series 2019 B, 3% 10/1/50 (Assured Guaranty Muni. Corp. Insured) | 6,355 | 4,540 | |
(Dulles Metrorail and Cap. Impt. Projs.): | |||
Series 2019 A: | |||
5% 10/1/35 | 2,115 | 2,280 | |
5% 10/1/37 | 2,125 | 2,261 | |
5% 10/1/39 | 2,000 | 2,106 | |
5% 10/1/44 | 7,000 | 7,313 | |
Series 2019 B, 5% 10/1/47 | 7,150 | 7,254 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev.: | |||
Series 2017 A: | |||
5% 10/1/31 (e) | 1,200 | 1,267 | |
5% 10/1/32 (e) | 1,855 | 1,955 | |
5% 10/1/33 (e) | 910 | 957 | |
5% 10/1/35 (e) | 2,070 | 2,158 | |
5% 10/1/42 (e) | 4,140 | 4,225 | |
Series 2020 A: | |||
5% 10/1/26 (e) | 9,015 | 9,516 | |
5% 10/1/27 (e) | 3,125 | 3,326 | |
5% 10/1/28 (e) | 1,560 | 1,672 | |
TOTAL DISTRICT OF COLUMBIA | 50,830 | ||
Florida - 6.5% | |||
Brevard County School Board Ctfs. of Prtn. Series 2015 C, 5% 7/1/28 | 1,445 | 1,514 | |
Broward County Arpt. Sys. Rev.: | |||
Series 2017: | |||
5% 10/1/25 (e) | 205 | 214 | |
5% 10/1/26 (e) | 930 | 982 | |
5% 10/1/27 (e) | 830 | 884 | |
5% 10/1/29 (e) | 2,200 | 2,322 | |
5% 10/1/30 (e) | 610 | 643 | |
5% 10/1/32 (e) | 2,900 | 3,050 | |
5% 10/1/33 (e) | 1,080 | 1,134 | |
5% 10/1/34 (e) | 1,055 | 1,103 | |
5% 10/1/35 (e) | 1,240 | 1,290 | |
5% 10/1/36 (e) | 1,655 | 1,716 | |
5% 10/1/37 (e) | 1,865 | 1,928 | |
5% 10/1/42 (e) | 3,520 | 3,590 | |
5% 10/1/47 (e) | 4,965 | 5,029 | |
Series A: | |||
5% 10/1/28 (e) | 2,485 | 2,575 | |
5% 10/1/30 (e) | 2,900 | 2,995 | |
5% 10/1/31 (e) | 2,485 | 2,564 | |
5% 10/1/32 (e) | 2,320 | 2,392 | |
Broward County School Board Ctfs. of Prtn.: | |||
(Broward County School District Proj.) Series 2016 A, 5% 7/1/28 | 555 | 590 | |
Series 2015 A, 5% 7/1/27 | 830 | 871 | |
Series 2016, 5% 7/1/32 | 1,820 | 1,930 | |
Cap. Projs. Fin. Auth. Student Hsg. Rev. (Cap. Projs. Ln. Prog. - Florida Univs.) Series 2020 A, 5% 10/1/28 | 2,000 | 2,037 | |
Duval County School Board Ctfs. of Prtn.: | |||
Series 2015 B: | |||
5% 7/1/28 | 1,705 | 1,790 | |
5% 7/1/32 | 10,120 | 10,596 | |
Series 2016 A, 5% 7/1/33 | 1,110 | 1,180 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Series 2020 A, 4% 8/15/45 | 2,820 | 2,454 | |
Florida Dept. of Trans. Tpk. Rev. Series 2022 B: | |||
4% 7/1/36 | 4,155 | 4,257 | |
4% 7/1/37 | 4,525 | 4,459 | |
4% 7/1/38 | 4,710 | 4,662 | |
Florida Mid-Bay Bridge Auth. Rev.: | |||
Series 2015 A, 5% 10/1/35 | 5,300 | 5,362 | |
Series 2015 C: | |||
5% 10/1/30 | 2,705 | 2,753 | |
5% 10/1/40 | 1,655 | 1,650 | |
Florida Muni. Pwr. Agcy. Rev.: | |||
(Requirements Pwr. Supply Proj.) Series 2016 A: | |||
5% 10/1/30 | 1,810 | 1,936 | |
5% 10/1/31 | 1,975 | 2,105 | |
Series 2015 B: | |||
5% 10/1/28 | 830 | 876 | |
5% 10/1/30 | 1,490 | 1,571 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | |||
Series 2016 A, 5% 10/1/46 (e) | 830 | 840 | |
Series 2016: | |||
5% 10/1/26 (e) | 1,405 | 1,483 | |
5% 10/1/27 (e) | 830 | 884 | |
Series 2017 A: | |||
5% 10/1/25 (e) | 275 | 286 | |
5% 10/1/25 (Escrowed to Maturity) (e) | 555 | 583 | |
5% 10/1/27 (e) | 385 | 407 | |
5% 10/1/27 (Escrowed to Maturity) (e) | 1,270 | 1,378 | |
5% 10/1/29 (Pre-Refunded to 10/1/27 @ 100) (e) | 2,485 | 2,697 | |
5% 10/1/30 (Pre-Refunded to 10/1/27 @ 100) (e) | 2,665 | 2,893 | |
5% 10/1/34 (e) | 4,965 | 5,191 | |
5% 10/1/37 (e) | 5,175 | 5,348 | |
Halifax Hosp. Med. Ctr. Rev. Series 2015, 5% 6/1/24 | 230 | 235 | |
JEA Wtr. & Swr. Sys. Rev. Series 2021 A: | |||
4% 10/1/37 | 4,560 | 4,499 | |
4% 10/1/38 | 1,090 | 1,074 | |
Miami-Dade County Aviation Rev.: | |||
Series 2014 A, 5% 10/1/28 (e) | 4,140 | 4,236 | |
Series 2015 A: | |||
5% 10/1/29 (e) | 1,310 | 1,350 | |
5% 10/1/31 (e) | 1,100 | 1,134 | |
5% 10/1/35 (e) | 4,555 | 4,584 | |
Series 2016 A: | |||
5% 10/1/29 | 1,200 | 1,288 | |
5% 10/1/31 | 1,450 | 1,549 | |
Series 2017 B, 5% 10/1/40 (e) | 10,760 | 10,934 | |
Series 2019 A, 5% 10/1/49 (e) | 11,860 | 11,922 | |
Miami-Dade County Expressway Auth.: | |||
Series 2014 A, 5% 7/1/44 | 2,265 | 2,284 | |
Series 2014 B, 5% 7/1/28 | 830 | 850 | |
Series 2016 A: | |||
5% 7/1/32 | 3,560 | 3,722 | |
5% 7/1/33 | 3,020 | 3,153 | |
Miami-Dade County School Board Ctfs. of Prtn.: | |||
Series 2015 A, 5% 5/1/29 | 3,375 | 3,504 | |
Series 2016 A, 5% 5/1/30 | 6,225 | 6,561 | |
Miami-Dade County Wtr. & Swr. Rev.: | |||
Series 2017 B, 4% 10/1/35 | 3,900 | 3,927 | |
Series 2021: | |||
5% 10/1/31 | 1,250 | 1,443 | |
5% 10/1/32 | 645 | 740 | |
Orange County Health Facilities Auth. Series 2016 A: | |||
5% 10/1/39 | 2,200 | 2,261 | |
5% 10/1/44 | 1,605 | 1,636 | |
Palm Beach County Arpt. Sys. Rev. Series 2016: | |||
5% 10/1/24 (e) | 1,140 | 1,172 | |
5% 10/1/27 (e) | 830 | 873 | |
5% 10/1/29 (e) | 860 | 898 | |
5% 10/1/30 (e) | 1,530 | 1,597 | |
5% 10/1/31 (e) | 1,075 | 1,121 | |
5% 10/1/32 (e) | 1,655 | 1,724 | |
5% 10/1/33 (e) | 3,555 | 3,698 | |
5% 10/1/34 (e) | 3,730 | 3,866 | |
5% 10/1/35 (e) | 3,930 | 4,058 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. Series 2019, 4% 8/15/49 | 9,880 | 8,709 | |
Palm Beach County School Board Ctfs. of Prtn. Series 2015 D, 5% 8/1/28 | 3,905 | 4,105 | |
Pinellas County Idr (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc. Proj.) Series 2019: | |||
5% 7/1/29 | 400 | 404 | |
5% 7/1/39 | 810 | 775 | |
South Florida Wtr. Mgmt. District Ctfs. of Prtn. Series 2015: | |||
5% 10/1/29 | 4,140 | 4,433 | |
5% 10/1/32 | 5,190 | 5,521 | |
South Miami Health Facilities Auth. Hosp. Rev. (Baptist Med. Ctr., FL. Proj.) Series 2017: | |||
4% 8/15/33 | 2,070 | 2,099 | |
5% 8/15/26 | 2,815 | 2,988 | |
5% 8/15/27 | 1,865 | 2,005 | |
5% 8/15/28 | 1,240 | 1,341 | |
5% 8/15/30 | 2,685 | 2,890 | |
5% 8/15/31 | 2,590 | 2,783 | |
5% 8/15/32 | 1,930 | 2,063 | |
5% 8/15/34 | 5,360 | 5,685 | |
5% 8/15/35 | 3,555 | 3,745 | |
5% 8/15/42 | 5,465 | 5,573 | |
5% 8/15/47 | 8,115 | 8,223 | |
Tallahassee Health Facilities Rev.: | |||
(Tallahassee Memorial Healthcare, Inc. Proj.) Series 2016 A, 5% 12/1/41 | 910 | 918 | |
Series 2015 A, 5% 12/1/40 | 1,820 | 1,835 | |
Volusia County Edl. Facilities Auth. Rev. (Embry-Riddle Aeronautical Univ., Inc. Proj.) Series 2020 A: | |||
5% 10/15/44 | 905 | 943 | |
5% 10/15/49 | 1,705 | 1,764 | |
Volusia County School Board Ctfs. of Prtn. (Florida Master Lease Prog.) Series 2016 A: | |||
5% 8/1/29 (Build America Mutual Assurance Insured) | 830 | 881 | |
5% 8/1/32 (Build America Mutual Assurance Insured) | 4,140 | 4,379 | |
TOTAL FLORIDA | 274,949 | ||
Georgia - 3.5% | |||
Atlanta Arpt. Rev. Series 2019 B, 5% 7/1/25 (e) | 1,870 | 1,944 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Transmission Corp. Proj.) Series 2012, 2.75% 1/1/52 (b) | 4,320 | 2,811 | |
Columbus Med. Ctr. Hosp. Auth. Bonds (Piedmont Healthcare, Inc. Proj.) Series 2019 B, 5%, tender 7/1/29 (b) | 6,900 | 7,527 | |
Fulton County Dev. Auth. Rev. Series 2019, 4% 6/15/49 | 1,515 | 1,416 | |
Gainesville & Hall County Hosp. Auth. Rev. Series 2020 A, 3% 2/15/47 | 13,420 | 9,634 | |
Georgia Gen. Oblig. Series 2022 A: | |||
5% 7/1/33 | 6,885 | 8,220 | |
5% 7/1/34 | 14,350 | 17,019 | |
5% 7/1/35 | 24,240 | 28,496 | |
Glynn-Brunswick Memorial Hosp. Auth. Rev. (Southeast Georgia Health Sys. Proj.) Series 2017: | |||
4% 8/1/43 | 1,860 | 1,617 | |
5% 8/1/39 | 1,705 | 1,714 | |
5% 8/1/43 | 2,275 | 2,289 | |
Hosp. Auth. of Savannah Auth. Rev. Series 2019 A: | |||
4% 7/1/35 | 1,400 | 1,411 | |
4% 7/1/36 | 4,500 | 4,511 | |
4% 7/1/43 | 6,160 | 5,768 | |
Main Street Natural Gas, Inc. Bonds: | |||
Series 2021 A, 4%, tender 9/1/27 (b) | 25,000 | 24,795 | |
Series 2021 C, 4%, tender 12/1/28 (b) | 23,425 | 22,877 | |
Private Colleges & Univs. Auth. Rev.: | |||
(Agnes Scott College) Series 2019 A, 5% 6/1/28 | 1,000 | 1,080 | |
Series 2019 A, 5% 6/1/29 | 800 | 874 | |
Series 2020 B: | |||
5% 9/1/31 | 2,490 | 2,879 | |
5% 9/1/32 | 1,880 | 2,160 | |
TOTAL GEORGIA | 149,042 | ||
Hawaii - 0.4% | |||
Hawaii Arpts. Sys. Rev.: | |||
Series 2018 A: | |||
5% 7/1/29 (e) | 1,055 | 1,122 | |
5% 7/1/30 (e) | 1,240 | 1,318 | |
5% 7/1/31 (e) | 1,215 | 1,290 | |
5% 7/1/32 (e) | 1,240 | 1,314 | |
5% 7/1/33 (e) | 1,265 | 1,338 | |
Series 2022 A, 5% 7/1/42 (e) | 9,480 | 9,842 | |
Hawaii Gen. Oblig. Series 2020 A, 4% 7/1/34 (e) | 750 | 764 | |
TOTAL HAWAII | 16,988 | ||
Idaho - 0.0% | |||
Idaho Hsg. & Fin. Assoc. Single Family Mtg. Series 2019 A, 4% 1/1/50 | 545 | 546 | |
Illinois - 17.2% | |||
Chicago Board of Ed.: | |||
Series 2012 A, 5% 12/1/42 | 7,630 | 7,305 | |
Series 2015 C, 5.25% 12/1/39 | 1,405 | 1,399 | |
Series 2016 B, 6.5% 12/1/46 | 660 | 696 | |
Series 2017 A, 7% 12/1/46 (d) | 2,320 | 2,513 | |
Series 2017 C: | |||
5% 12/1/24 | 4,770 | 4,858 | |
5% 12/1/25 | 2,725 | 2,788 | |
5% 12/1/26 | 800 | 819 | |
5% 12/1/30 | 2,105 | 2,145 | |
5% 12/1/34 | 1,245 | 1,258 | |
Series 2017 D: | |||
5% 12/1/23 | 2,460 | 2,483 | |
5% 12/1/24 | 1,030 | 1,049 | |
5% 12/1/31 | 3,565 | 3,629 | |
Series 2017 H, 5% 12/1/36 | 95 | 95 | |
Series 2018 A: | |||
5% 12/1/25 | 830 | 849 | |
5% 12/1/26 | 830 | 850 | |
5% 12/1/28 | 3,915 | 4,010 | |
5% 12/1/30 | 1,655 | 1,690 | |
5% 12/1/32 | 950 | 967 | |
5% 12/1/34 | 1,140 | 1,151 | |
5% 12/1/35 | 830 | 835 | |
Series 2018 C, 5% 12/1/46 | 3,250 | 3,087 | |
Series 2019 A: | |||
4% 12/1/27 | 5,000 | 4,892 | |
5% 12/1/27 | 1,625 | 1,660 | |
5% 12/1/28 | 2,910 | 2,981 | |
5% 12/1/28 | 2,000 | 2,049 | |
5% 12/1/33 | 1,300 | 1,323 | |
Chicago Gen. Oblig.: | |||
Series 2017 A, 6% 1/1/38 | 1,000 | 1,055 | |
Series 2020 A: | |||
5% 1/1/27 | 430 | 445 | |
5% 1/1/29 | 3,175 | 3,326 | |
5% 1/1/30 | 3,555 | 3,747 | |
5% 1/1/31 | 3,760 | 3,962 | |
Series 2021 A, 5% 1/1/32 | 5,335 | 5,649 | |
Series 2023 A: | |||
5.25% 1/1/38 (g) | 11,380 | 11,772 | |
5.5% 1/1/39 (g) | 12,000 | 12,600 | |
5.5% 1/1/40 (g) | 6,750 | 7,064 | |
Chicago Midway Arpt. Rev.: | |||
Series 2014 A: | |||
5% 1/1/28 (e) | 9,150 | 9,246 | |
5% 1/1/33 (e) | 4,450 | 4,471 | |
5% 1/1/34 (e) | 2,150 | 2,158 | |
Series 2016 A, 5% 1/1/28 (e) | 1,655 | 1,712 | |
Series 2016 B: | |||
4% 1/1/35 | 1,305 | 1,297 | |
5% 1/1/36 | 1,655 | 1,695 | |
5% 1/1/37 | 2,235 | 2,277 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2015 A, 5% 1/1/31 (e) | 5,000 | 5,107 | |
Series 2015 C, 5% 1/1/46 (e) | 1,985 | 1,985 | |
Series 2016 B, 5% 1/1/34 | 5,050 | 5,291 | |
Series 2016 C: | |||
5% 1/1/33 | 2,255 | 2,369 | |
5% 1/1/34 | 2,610 | 2,735 | |
Series 2016 G: | |||
5% 1/1/37 (e) | 1,655 | 1,697 | |
5% 1/1/42 (e) | 1,655 | 1,673 | |
5.25% 1/1/29 (e) | 290 | 306 | |
5.25% 1/1/31 (e) | 330 | 348 | |
Series 2017 A, 5% 1/1/31 | 2,925 | 3,140 | |
Series 2017 B: | |||
5% 1/1/35 | 1,740 | 1,838 | |
5% 1/1/37 | 7,080 | 7,389 | |
Series 2017 C: | |||
5% 1/1/30 | 495 | 533 | |
5% 1/1/31 | 495 | 531 | |
5% 1/1/32 | 540 | 578 | |
Series 2017 D: | |||
5% 1/1/28 (e) | 2,475 | 2,594 | |
5% 1/1/29 (e) | 2,070 | 2,164 | |
5% 1/1/32 (e) | 2,235 | 2,332 | |
5% 1/1/34 (e) | 3,360 | 3,494 | |
5% 1/1/35 (e) | 2,485 | 2,573 | |
5% 1/1/36 (e) | 3,090 | 3,184 | |
5% 1/1/37 (e) | 1,655 | 1,697 | |
Series 2018 A: | |||
5% 1/1/48 (e) | 2,215 | 2,244 | |
5% 1/1/53 (e) | 3,790 | 3,818 | |
Chicago O'Hare Int'l. Arpt. Spl. Facilities Rev. Series 2018: | |||
5% 7/1/38 (e) | 2,185 | 2,196 | |
5% 7/1/48 (e) | 9,030 | 8,849 | |
Chicago Transit Auth. Series 2017, 5% 12/1/46 | 3,395 | 3,445 | |
Chicago Transit Auth. Cap. Grant Receipts Rev. Series 2017: | |||
5% 6/1/25 | 255 | 264 | |
5% 6/1/26 | 205 | 215 | |
Cook County Gen. Oblig. Series 2016 A: | |||
5% 11/15/26 | 4,420 | 4,721 | |
5% 11/15/27 | 2,320 | 2,478 | |
5% 11/15/28 | 3,020 | 3,224 | |
5% 11/15/29 | 3,760 | 4,015 | |
5% 11/15/30 | 4,140 | 4,419 | |
DuPage & Cook Counties Cmnty. Unit School District #205 Series 2021 A, 2% 1/1/39 | 4,200 | 2,933 | |
Illinois Fin. Auth.: | |||
Series 2020 A: | |||
3% 5/15/50 | 10,870 | 7,360 | |
3% 5/15/50 (Build America Mutual Assurance Insured) | 5,040 | 3,555 | |
3.25% 8/15/49 | 2,010 | 1,554 | |
Series 2020, 5% 7/1/36 | 5,850 | 6,567 | |
Illinois Fin. Auth. Rev.: | |||
(Bradley Univ. Proj.) Series 2017 C: | |||
5% 8/1/29 | 1,090 | 1,133 | |
5% 8/1/30 | 760 | 789 | |
5% 8/1/32 | 1,015 | 1,048 | |
(Depaul Univ. Proj.) Series 2016 A: | |||
4% 10/1/34 | 830 | 833 | |
5% 10/1/29 | 830 | 882 | |
5% 10/1/30 | 830 | 881 | |
(OSF Healthcare Sys.) Series 2018 A: | |||
4.125% 5/15/47 | 25,725 | 23,368 | |
5% 5/15/43 | 34,525 | 34,964 | |
(Presence Health Proj.) Series 2016 C: | |||
3.625% 2/15/32 | 950 | 954 | |
4% 2/15/33 | 225 | 228 | |
5% 2/15/29 | 5,110 | 5,487 | |
5% 2/15/36 | 1,535 | 1,618 | |
(Rosalind Franklin Univ. Research Bldg. Proj.) Series 2017 C, 5% 8/1/46 | 830 | 810 | |
(Rush Univ. Med. Ctr. Proj.) Series 2015 A, 5% 11/15/34 | 415 | 425 | |
Series 2013: | |||
5% 11/15/28 | 2,380 | 2,381 | |
5% 11/15/29 | 1,160 | 1,161 | |
Series 2015 A, 5% 11/15/35 | 1,985 | 2,029 | |
Series 2015 C: | |||
4.125% 8/15/37 | 735 | 697 | |
5% 8/15/35 | 6,175 | 6,296 | |
5% 8/15/44 | 30,175 | 29,027 | |
Series 2016 A: | |||
5% 8/15/25 (Escrowed to Maturity) | 1,970 | 2,080 | |
5% 7/1/28 (Pre-Refunded to 7/1/26 @ 100) | 1,020 | 1,100 | |
5% 2/15/29 | 4,255 | 4,486 | |
5% 2/15/30 | 4,490 | 4,745 | |
5% 7/1/30 (Pre-Refunded to 7/1/26 @ 100) | 590 | 636 | |
5% 2/15/31 | 3,620 | 3,824 | |
5% 7/1/31 (Pre-Refunded to 7/1/26 @ 100) | 1,040 | 1,121 | |
5% 2/15/32 | 3,520 | 3,714 | |
5% 7/1/33 (Pre-Refunded to 7/1/26 @ 100) | 540 | 582 | |
5% 7/1/34 (Pre-Refunded to 7/1/26 @ 100) | 4,140 | 4,463 | |
5% 8/15/35 (Pre-Refunded to 8/15/26 @ 100) | 420 | 452 | |
5% 7/1/36 (Pre-Refunded to 7/1/26 @ 100) | 2,140 | 2,307 | |
5% 8/15/36 (Pre-Refunded to 8/15/26 @ 100) | 1,685 | 1,815 | |
5.25% 8/15/31 (Pre-Refunded to 8/15/26 @ 100) | 495 | 537 | |
Series 2016 B: | |||
5% 8/15/31 | 6,095 | 6,489 | |
5% 8/15/32 | 5,000 | 5,296 | |
5% 8/15/34 | 6,220 | 6,547 | |
5% 8/15/36 | 8,680 | 9,051 | |
Series 2016 C: | |||
3.75% 2/15/34 | 1,215 | 1,220 | |
4% 2/15/36 | 5,160 | 5,189 | |
4% 2/15/41 | 20,725 | 19,868 | |
4% 2/15/41 (Pre-Refunded to 2/15/27 @ 100) | 655 | 684 | |
5% 2/15/31 | 12,595 | 13,485 | |
5% 2/15/32 | 3,660 | 3,908 | |
5% 2/15/34 | 2,920 | 3,100 | |
Series 2016 D, 4% 2/15/46 | 15,500 | 13,935 | |
Series 2016: | |||
4% 2/15/41 (Pre-Refunded to 2/15/27 @ 100) | 30 | 31 | |
5% 5/15/29 | 1,040 | 1,089 | |
5% 12/1/29 | 1,420 | 1,484 | |
5% 5/15/30 | 2,200 | 2,296 | |
5% 12/1/33 | 835 | 864 | |
5% 12/1/46 | 11,065 | 10,661 | |
Series 2017 A: | |||
5% 1/1/36 (Pre-Refunded to 1/1/27 @ 100) | 1,860 | 2,007 | |
5% 8/1/42 | 730 | 726 | |
Series 2017: | |||
5% 1/1/29 | 2,775 | 3,014 | |
5% 7/1/34 | 4,640 | 4,965 | |
5% 7/1/35 | 3,900 | 4,174 | |
Series 2019: | |||
4% 9/1/37 | 600 | 528 | |
4% 9/1/41 | 1,000 | 832 | |
5% 9/1/36 | 1,000 | 1,006 | |
Illinois Gen. Oblig.: | |||
Series 2014: | |||
5% 2/1/25 | 3,005 | 3,037 | |
5% 2/1/26 | 2,270 | 2,292 | |
5% 4/1/28 | 1,895 | 1,911 | |
5% 5/1/28 | 1,780 | 1,796 | |
5.25% 2/1/31 | 360 | 363 | |
Series 2016: | |||
5% 6/1/26 | 995 | 1,023 | |
5% 2/1/27 | 5,585 | 5,763 | |
Series 2018 A, 5% 10/1/28 | 230 | 238 | |
Series 2020, 5.75% 5/1/45 | 3,865 | 4,014 | |
Series 2021 A: | |||
5% 3/1/32 | 2,750 | 2,811 | |
5% 3/1/33 | 1,500 | 1,526 | |
5% 3/1/34 | 2,220 | 2,251 | |
5% 3/1/35 | 5,450 | 5,512 | |
5% 3/1/36 | 4,500 | 4,534 | |
5% 3/1/37 | 5,500 | 5,518 | |
5% 3/1/46 | 7,635 | 7,420 | |
Series 2022 A: | |||
5% 3/1/29 | 4,600 | 4,755 | |
5% 3/1/32 | 4,490 | 4,599 | |
5% 3/1/33 | 6,690 | 6,815 | |
5% 3/1/34 | 5,110 | 5,188 | |
Series 2022 B, 5% 10/1/34 | 16,015 | 16,248 | |
Illinois Hsg. Dev. Auth. Multi-family Hsg. Rev. Series 2019, 2.9% 7/1/35 | 6,027 | 5,351 | |
Illinois Muni. Elec. Agcy. Pwr. Supply Series 2015 A, 5% 2/1/31 | 3,370 | 3,507 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev.: | |||
Series 2016 A, 5% 12/1/31 | 5,825 | 6,157 | |
Series 2019 A, 5% 1/1/44 | 1,260 | 1,314 | |
Series A: | |||
5% 1/1/36 | 1,000 | 1,094 | |
5% 1/1/38 | 350 | 377 | |
5% 1/1/40 | 2,390 | 2,526 | |
Kendall, Kane & Will Counties Cmnty. Unit School District #308 Series 2016: | |||
5% 2/1/34 | 5,795 | 6,065 | |
5% 2/1/35 | 4,140 | 4,327 | |
5% 2/1/36 | 7,120 | 7,431 | |
Lake County Cmnty. Consolidated School District #73 Gen. Oblig. Series 2021, 2.25% 1/1/40 | 1,000 | 733 | |
Metropolitan Pier & Exposition: | |||
(McCormick Place Expansion Proj.): | |||
Series 2002 A, 0% 6/15/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,645 | 1,405 | |
Series 2010 B1: | |||
0% 6/15/43 (Assured Guaranty Muni. Corp. Insured) | 41,985 | 15,578 | |
0% 6/15/45 (Assured Guaranty Muni. Corp. Insured) | 25,250 | 8,390 | |
0% 6/15/47 (Assured Guaranty Muni. Corp. Insured) | 3,000 | 892 | |
Series 2012 B, 0% 12/15/51 | 10,845 | 2,301 | |
Series 1996 A, 0% 6/15/24 | 2,535 | 2,405 | |
Series 2002 A, 0% 6/15/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,690 | 952 | |
Series 2002, 0% 12/15/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 13,280 | 6,854 | |
Series 2017 B: | |||
5% 12/15/25 | 830 | 848 | |
5% 12/15/26 | 2,755 | 2,834 | |
5% 12/15/27 | 295 | 305 | |
5% 12/15/31 | 560 | 575 | |
5% 12/15/34 | 330 | 337 | |
Series 2022 A: | |||
4% 12/15/42 | 7,330 | 6,378 | |
4% 12/15/47 | 560 | 467 | |
4% 6/15/52 | 2,000 | 1,619 | |
Northern Illinois Univ. Revs. Series 2020 B: | |||
5% 4/1/26 (Build America Mutual Assurance Insured) | 1,400 | 1,469 | |
5% 4/1/28 (Build America Mutual Assurance Insured) | 1,300 | 1,392 | |
5% 4/1/30 (Build America Mutual Assurance Insured) | 1,000 | 1,080 | |
5% 4/1/32 (Build America Mutual Assurance Insured) | 1,295 | 1,390 | |
Railsplitter Tobacco Settlement Auth. Rev. Series 2017: | |||
5% 6/1/27 | 4,140 | 4,401 | |
5% 6/1/28 | 2,275 | 2,417 | |
Univ. of Illinois Rev.: | |||
Series 2013: | |||
6% 10/1/42 | 4,555 | 4,643 | |
6.25% 10/1/38 | 4,495 | 4,594 | |
Series 2018 A, 5% 4/1/30 | 3,425 | 3,742 | |
Will County Cmnty. Unit School District #365-U Series 2007 B, 0% 11/1/26 (Assured Guaranty Muni. Corp. Insured) | 5,095 | 4,474 | |
Will County Illinois Series 2016: | |||
5% 11/15/32 (Pre-Refunded to 11/15/25 @ 100) | 1,020 | 1,086 | |
5% 11/15/33 (Pre-Refunded to 11/15/25 @ 100) | 1,240 | 1,320 | |
5% 11/15/34 (Pre-Refunded to 11/15/25 @ 100) | 1,240 | 1,320 | |
TOTAL ILLINOIS | 726,558 | ||
Indiana - 1.2% | |||
Indiana Fin. Auth. Rev.: | |||
Series 2015 A, 5.25% 2/1/32 | 5,845 | 6,128 | |
Series 2016: | |||
5% 9/1/26 | 1,075 | 1,153 | |
5% 9/1/27 | 540 | 577 | |
5% 9/1/28 | 2,535 | 2,701 | |
5% 9/1/29 | 1,240 | 1,316 | |
5% 9/1/30 | 1,160 | 1,229 | |
Indiana Fin. Auth. Wastewtr. Util. Rev. (CWA Auth. Proj.) Series 2015 A, 5% 10/1/30 | 3,990 | 4,113 | |
Indiana Hsg. & Cmnty. Dev. Auth. (Glasswater Creek of Whitestown Proj.) Series 2020, 5.375% 10/1/40 (d) | 2,045 | 1,660 | |
Indianapolis Local Pub. Impt.: | |||
(Indianapolis Arpt. Auth. Proj.) Series 2019 I, 5% 1/1/44 | 5,100 | 5,302 | |
Series 2016: | |||
4% 1/1/32 (e) | 830 | 826 | |
4% 1/1/33 (e) | 830 | 819 | |
4% 1/1/34 (e) | 1,010 | 988 | |
4% 1/1/35 (e) | 2,300 | 2,241 | |
5% 1/1/26 (e) | 875 | 914 | |
Purdue Univ. Rev. Series 2018 DD: | |||
5% 7/1/34 | 995 | 1,102 | |
5% 7/1/35 | 1,960 | 2,159 | |
5% 7/1/36 | 2,130 | 2,336 | |
5% 7/1/37 | 1,970 | 2,150 | |
5% 7/1/38 | 2,345 | 2,552 | |
Saint Joseph County Econ. Dev. Auth. Rev. (St. Mary's College Proj.): | |||
Series 2019: | |||
4% 4/1/38 | 260 | 247 | |
4% 4/1/46 | 6,035 | 5,460 | |
5% 4/1/43 | 460 | 476 | |
Series 2020: | |||
4% 4/1/38 | 1,510 | 1,435 | |
5% 4/1/32 | 1,805 | 1,960 | |
TOTAL INDIANA | 49,844 | ||
Iowa - 0.2% | |||
Iowa Fin. Auth. Rev. Series A: | |||
5% 5/15/43 | 1,145 | 987 | |
5% 5/15/48 | 1,885 | 1,562 | |
Iowa Student Ln. Liquidity Corp. Student Ln. Rev. Series 2019 B: | |||
5% 12/1/26 (e) | 1,850 | 1,954 | |
5% 12/1/27 (e) | 1,965 | 2,100 | |
Tobacco Settlement Auth. Tobacco Settlement Rev. Series 2021 B1, 4% 6/1/49 | 3,820 | 3,756 | |
TOTAL IOWA | 10,359 | ||
Kentucky - 1.2% | |||
Ashland Med. Ctr. Rev. Series 2019, 3% 2/1/40 (Assured Guaranty Muni. Corp. Insured) | 2,545 | 2,008 | |
Kenton County Arpt. Board Arpt. Rev. Series 2016: | |||
5% 1/1/28 | 1,310 | 1,392 | |
5% 1/1/31 | 1,240 | 1,313 | |
5% 1/1/32 | 1,240 | 1,310 | |
Kentucky Econ. Dev. Fin. Auth.: | |||
Series 2019 A1: | |||
5% 8/1/35 | 1,000 | 1,048 | |
5% 8/1/44 | 1,000 | 1,002 | |
Series 2019 A2, 5% 8/1/44 | 2,995 | 3,000 | |
Kentucky State Property & Buildings Commission Rev. (Proj. No. 119) Series 2018: | |||
5% 5/1/26 | 830 | 883 | |
5% 5/1/29 | 4,510 | 4,956 | |
5% 5/1/32 | 1,185 | 1,296 | |
5% 5/1/33 | 915 | 1,000 | |
5% 5/1/34 | 1,045 | 1,135 | |
5% 5/1/35 | 615 | 661 | |
5% 5/1/36 | 520 | 555 | |
Kentucky, Inc. Pub. Energy Bonds Series A, 4%, tender 6/1/26 (b) | 10,000 | 9,899 | |
Louisville & Jefferson County: | |||
Bonds: | |||
Series 2020 C, 5%, tender 10/1/26 (b) | 1,695 | 1,779 | |
Series 2020 D, 5%, tender 10/1/29 (b) | 2,030 | 2,202 | |
Series 2013 A, 5.5% 10/1/33 | 2,815 | 2,849 | |
Series 2020 A: | |||
3% 10/1/43 | 8,190 | 6,302 | |
5% 10/1/37 | 2,405 | 2,495 | |
5% 10/1/38 | 2,300 | 2,385 | |
TOTAL KENTUCKY | 49,470 | ||
Louisiana - 1.0% | |||
Jefferson Parish Consolidated Wtrwks. District No. 2 Series 2022, 5% 2/1/42 (Build America Mutual Assurance Insured) | 10,390 | 11,181 | |
Louisiana Pub. Facilities Auth. Hosp. Rev. (Franciscan Missionaries of Our Lady Health Sys. Proj.) Series 2017 A, 5% 7/1/47 | 1,950 | 1,967 | |
Louisiana Pub. Facilities Auth. Rev.: | |||
(Tulane Univ. of Louisiana Proj.) Series 2016 A: | |||
5% 12/15/24 | 1,240 | 1,287 | |
5% 12/15/25 | 2,585 | 2,722 | |
5% 12/15/26 | 1,045 | 1,118 | |
5% 12/15/28 | 1,655 | 1,767 | |
5% 12/15/29 | 1,175 | 1,253 | |
5% 12/15/30 | 2,320 | 2,473 | |
Series 2018 E: | |||
5% 7/1/37 | 1,615 | 1,699 | |
5% 7/1/38 | 1,260 | 1,319 | |
New Orleans Aviation Board Rev.: | |||
(North Term. Proj.): | |||
Series 2015 B: | |||
5% 1/1/29 (e) | 4,295 | 4,400 | |
5% 1/1/31 (e) | 2,070 | 2,120 | |
Series 2017 B: | |||
5% 1/1/27 (e) | 330 | 348 | |
5% 1/1/28 (e) | 205 | 216 | |
5% 1/1/32 (e) | 330 | 345 | |
5% 1/1/33 (e) | 580 | 604 | |
5% 1/1/34 (e) | 180 | 187 | |
5% 1/1/35 (e) | 330 | 341 | |
Series 2017 D2: | |||
5% 1/1/27 (e) | 415 | 438 | |
5% 1/1/28 (e) | 595 | 626 | |
5% 1/1/31 (e) | 530 | 555 | |
5% 1/1/33 (e) | 850 | 886 | |
5% 1/1/34 (e) | 1,020 | 1,059 | |
5% 1/1/36 (e) | 775 | 797 | |
5% 1/1/37 (e) | 1,275 | 1,305 | |
TOTAL LOUISIANA | 41,013 | ||
Maine - 1.1% | |||
Maine Health & Higher Edl. Facilities Auth. Rev.: | |||
Series 2016 A: | |||
4% 7/1/41 | 1,935 | 1,727 | |
4% 7/1/46 | 3,180 | 2,742 | |
5% 7/1/41 | 8,620 | 8,650 | |
5% 7/1/46 | 22,975 | 22,787 | |
Series 2017 B: | |||
4% 7/1/25 | 375 | 383 | |
4% 7/1/31 | 580 | 591 | |
4% 7/1/32 | 415 | 421 | |
4% 7/1/34 | 835 | 836 | |
5% 7/1/26 | 270 | 286 | |
5% 7/1/28 | 420 | 450 | |
5% 7/1/29 | 330 | 353 | |
5% 7/1/33 | 830 | 881 | |
5% 7/1/35 | 630 | 661 | |
Maine Tpk. Auth. Tpk. Rev. Series 2015: | |||
5% 7/1/32 | 870 | 912 | |
5% 7/1/36 | 2,150 | 2,243 | |
5% 7/1/38 | 555 | 578 | |
TOTAL MAINE | 44,501 | ||
Maryland - 1.6% | |||
Baltimore Gen. Oblig. Series 2022 A: | |||
5% 10/15/36 | 1,015 | 1,168 | |
5% 10/15/38 | 2,935 | 3,331 | |
5% 10/15/39 | 3,085 | 3,483 | |
5% 10/15/42 | 3,315 | 3,691 | |
City of Westminster Series 2016: | |||
5% 11/1/27 | 2,150 | 2,263 | |
5% 11/1/28 | 2,275 | 2,392 | |
5% 11/1/29 | 2,410 | 2,535 | |
5% 11/1/30 | 2,555 | 2,682 | |
Maryland Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev. Series 2019 B, 4% 9/1/49 | 2,010 | 2,013 | |
Maryland Dept. of Trans. Series 2022 A, 5% 12/1/25 | 1,000 | 1,068 | |
Maryland Econ. Dev. Auth. Rev. (Ports America Chesapeake LLC. Proj.) Series 2017 A: | |||
5% 6/1/30 | 1,035 | 1,096 | |
5% 6/1/35 | 1,655 | 1,725 | |
Maryland Gen. Oblig. Series 2022 A, 5% 6/1/35 | 10,210 | 11,906 | |
Maryland Health & Higher Edl. Series 2021 A, 3% 7/1/51 | 6,445 | 4,508 | |
Maryland Health & Higher Edl. Facilities Auth. Rev. Series 2016 A: | |||
4% 7/1/42 | 1,430 | 1,255 | |
5% 7/1/35 | 575 | 590 | |
Maryland Stadium Auth. Built to Learn Rev. Series 2021, 4% 6/1/46 | 1,280 | 1,181 | |
Maryland Trans. Auth. Trans. Facility Projs. Rev. Series 2021 A, 5% 7/1/51 | 4,000 | 4,274 | |
Washington Metropolitan Area Transit Auth.: | |||
Series 2020 A, 5% 7/15/38 | 9,900 | 10,821 | |
Series 2021 A: | |||
5% 7/15/41 | 1,250 | 1,360 | |
5% 7/15/46 | 2,000 | 2,143 | |
TOTAL MARYLAND | 65,485 | ||
Massachusetts - 4.4% | |||
Massachusetts Bay Trans. Auth. Sales Tax Rev. Series 2021 A1: | |||
5% 7/1/32 | 2,235 | 2,614 | |
5% 7/1/33 | 2,500 | 2,910 | |
5% 7/1/34 | 1,260 | 1,451 | |
5% 7/1/35 | 3,180 | 3,632 | |
Massachusetts Commonwealth Trans. Fund Rev. Series 2021 A, 5% 6/1/51 | 5,900 | 6,299 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
(Lesley Univ. Proj.) Series 2016, 5% 7/1/39 | 1,360 | 1,370 | |
(Partners Healthcare Sys., Inc. Proj.): | |||
Series 2017 S: | |||
5% 7/1/30 | 3,210 | 3,526 | |
5% 7/1/34 | 3,500 | 3,777 | |
Series 2017, 4% 7/1/41 | 8,280 | 7,994 | |
(Univ. of Massachusetts Health Cr., Inc. Proj.) Series 2017 L, 4% 7/1/44 | 830 | 737 | |
(Wentworth Institute of Technology Proj.) Series 2017: | |||
5% 10/1/27 | 830 | 871 | |
5% 10/1/28 | 875 | 917 | |
5% 10/1/29 | 920 | 963 | |
5% 10/1/31 | 1,015 | 1,057 | |
5% 10/1/32 | 1,065 | 1,106 | |
Series 2016 I, 5% 7/1/41 | 1,925 | 1,947 | |
Series 2016: | |||
5% 10/1/29 | 830 | 878 | |
5% 10/1/30 | 1,240 | 1,310 | |
5% 7/1/31 | 1,385 | 1,432 | |
5% 10/1/31 | 1,340 | 1,414 | |
5% 10/1/43 | 8,995 | 9,001 | |
Series 2017: | |||
5% 7/1/34 | 1,325 | 1,372 | |
5% 7/1/35 | 1,000 | 1,031 | |
Series 2019, 5% 9/1/59 | 14,880 | 15,231 | |
Series 2020 A, 4% 7/1/45 | 12,200 | 10,287 | |
Series 2022, 5% 10/1/37 | 1,720 | 1,959 | |
Series M: | |||
4% 10/1/50 | 12,425 | 10,261 | |
5% 10/1/45 | 9,360 | 9,366 | |
Massachusetts Edl. Fing. Auth. Rev. Series 2019 B: | |||
5% 7/1/27 (e) | 1,000 | 1,061 | |
5% 7/1/28 (e) | 1,915 | 2,041 | |
Massachusetts Gen. Oblig.: | �� | ||
Series 2019 C, 5% 5/1/49 | 4,175 | 4,414 | |
Series 2020 D, 5% 7/1/48 | 5,670 | 6,060 | |
Series 2022 C, 5.25% 10/1/47 | 30,000 | 33,321 | |
Massachusetts Port Auth. Rev.: | |||
Series 2016 A: | |||
5% 7/1/33 | 1,740 | 1,861 | |
5% 7/1/34 | 895 | 955 | |
5% 7/1/38 | 1,300 | 1,369 | |
Series 2016 B, 5% 7/1/43 (e) | 7,110 | 7,233 | |
Series 2021 E: | |||
5% 7/1/38 (e) | 2,875 | 3,040 | |
5% 7/1/39 (e) | 4,480 | 4,715 | |
5% 7/1/40 (e) | 2,835 | 2,970 | |
5% 7/1/51 (e) | 10,000 | 10,245 | |
TOTAL MASSACHUSETTS | 183,998 | ||
Michigan - 2.1% | |||
Detroit Downtown Dev. Auth. Tax: | |||
Series 2018 A, 5% 7/1/32 (Assured Guaranty Muni. Corp. Insured) | 1,000 | 1,023 | |
Series A, 5% 7/1/34 (Assured Guaranty Muni. Corp. Insured) | 1,000 | 1,019 | |
Detroit Gen. Oblig. Series 2021 A, 5% 4/1/50 | 2,600 | 2,431 | |
Flint Hosp. Bldg. Auth. Rev. Series 2020, 5% 7/1/38 | 1,515 | 1,561 | |
Grand Traverse County Hosp. Fin. Auth. Series 2021, 3% 7/1/51 | 2,780 | 1,955 | |
Great Lakes Wtr. Auth. Sew Disp. Sys. Series 2018 A: | |||
5% 7/1/43 | 2,030 | 2,133 | |
5% 7/1/48 | 8,725 | 9,016 | |
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016: | |||
5% 5/15/28 | 1,945 | 2,043 | |
5% 5/15/28 (Pre-Refunded to 5/15/26 @ 100) | 10 | 11 | |
Michigan Bldg. Auth. Rev. Series 2015 I: | |||
5% 4/15/30 | 3,960 | 4,187 | |
5% 4/15/30 (Pre-Refunded to 10/15/25 @ 100) | 180 | 191 | |
Michigan Fin. Auth. Rev.: | |||
(Charter County of Wayne Criminal Justice Ctr. Proj.) Series 2018, 5% 11/1/43 | 2,570 | 2,698 | |
Series 2019 A: | |||
3% 12/1/49 | 3,935 | 2,844 | |
5% 11/15/48 | 2,105 | 2,135 | |
Series 2020 A, 4% 6/1/49 | 2,545 | 2,109 | |
Michigan Hosp. Fin. Auth. Rev. Series 2008 C: | |||
5% 12/1/32 | 1,110 | 1,213 | |
5% 12/1/32 (Pre-Refunded to 12/1/27 @ 100) | 130 | 144 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Series A, 3.5% 12/1/50 | 1,855 | 1,832 | |
Oakland Univ. Rev. Series 2019: | |||
5% 3/1/44 | 8,540 | 8,918 | |
5% 3/1/50 | 13,450 | 13,946 | |
Portage Pub. Schools Series 2016: | |||
5% 11/1/30 | 2,365 | 2,522 | |
5% 11/1/31 | 2,090 | 2,220 | |
5% 11/1/36 | 205 | 216 | |
Univ. of Michigan Rev. Series 2020 A, 5% 4/1/50 | 1,165 | 1,267 | |
Wayne County Arpt. Auth. Rev.: | |||
Series 2015 G, 5% 12/1/28 (e) | 4,555 | 4,729 | |
Series 2017 A: | |||
4% 12/1/33 (Assured Guaranty Muni. Corp. Insured) | 1,230 | 1,247 | |
4% 12/1/34 (Assured Guaranty Muni. Corp. Insured) | 1,020 | 1,030 | |
4% 12/1/35 (Assured Guaranty Muni. Corp. Insured) | 995 | 999 | |
4% 12/1/36 (Assured Guaranty Muni. Corp. Insured) | 1,035 | 1,031 | |
5% 12/1/31 | 310 | 336 | |
5% 12/1/32 | 315 | 341 | |
5% 12/1/34 | 580 | 624 | |
5% 12/1/35 | 540 | 578 | |
5% 12/1/37 | 355 | 374 | |
Series 2017 B: | |||
5% 12/1/29 (e) | 495 | 521 | |
5% 12/1/30 (e) | 580 | 609 | |
5% 12/1/31 (e) | 660 | 692 | |
5% 12/1/32 (e) | 420 | 442 | |
5% 12/1/32 (e) | 540 | 565 | |
5% 12/1/34 (e) | 495 | 518 | |
5% 12/1/35 (e) | 540 | 562 | |
5% 12/1/37 (e) | 705 | 729 | |
5% 12/1/42 (e) | 830 | 848 | |
Series 2018 D, 5% 12/1/29 (e) | 3,645 | 3,892 | |
TOTAL MICHIGAN | 88,301 | ||
Minnesota - 0.8% | |||
Duluth Econ. Dev. Auth. Health Care Facilities Rev. Series 2018 A, 5% 2/15/48 | 6,000 | 5,831 | |
Maple Grove Health Care Sys. Rev.: | |||
Series 2015, 5% 9/1/29 | 2,345 | 2,418 | |
Series 2017, 5% 5/1/25 | 660 | 683 | |
Minnesota Higher Ed. Facilities Auth. Rev. Series 2018 A: | |||
5% 10/1/30 | 615 | 658 | |
5% 10/1/45 | 1,370 | 1,397 | |
Minnesota Muni. Gas Agcy. Rev. Bonds Series 2022 A, 4%, tender 12/1/27 (Liquidity Facility Royal Bank of Canada) (b) | 18,275 | 18,328 | |
Moorhead Edl. Facilities Rev. (The Concordia College Corp. Proj.) Series 2016, 5% 12/1/25 | 765 | 783 | |
Shakopee Sr. Hsg. Rev. Bonds Series 2018, 5.85%, tender 11/1/25 (b)(d) | 3,670 | 3,606 | |
TOTAL MINNESOTA | 33,704 | ||
Mississippi - 0.4% | |||
Mississippi Bus. finance Corp. Exempt Facilities Rev. Bonds (Enviva, Inc. Proj.) Series 2022, 7.75%, tender 7/15/32 (b)(e) | 15,100 | 15,186 | |
Missouri - 0.8% | |||
Cape Girardeau County Indl. Dev. Auth. (Southeast Hosp. Proj.) Series 2017 A: | |||
5% 3/1/30 | 580 | 602 | |
5% 3/1/31 | 870 | 900 | |
5% 3/1/36 | 1,725 | 1,764 | |
Kansas City Wtr. Rev. Series 2020 A, 4% 12/1/42 | 1,200 | 1,168 | |
Missouri Health & Edl. Facilities Rev.: | |||
Series 2015 B: | |||
3.125% 2/1/27 | 830 | 827 | |
3.25% 2/1/28 | 830 | 829 | |
5% 2/1/29 | 1,025 | 1,061 | |
5% 2/1/31 | 2,150 | 2,222 | |
5% 2/1/33 | 2,375 | 2,446 | |
5% 2/1/36 | 2,235 | 2,290 | |
Series 2019 A: | |||
4% 10/1/48 | 2,850 | 2,666 | |
5% 10/1/46 | 5,575 | 5,943 | |
Missouri Hsg. Dev. Commission Single Family Mtg. Rev. Series 2019, 4% 5/1/50 | 640 | 642 | |
Saint Louis Arpt. Rev. Series 2019 C: | |||
5% 7/1/33 | 2,390 | 2,628 | |
5% 7/1/34 | 1,750 | 1,915 | |
Saint Louis County Indl. Dev. Auth. Sr. Living Facilities Rev.: | |||
Series 2017, 5% 9/1/48 | 1,000 | 836 | |
Series 2018 A: | |||
5.125% 9/1/48 | 3,325 | 2,831 | |
5.125% 9/1/49 | 2,665 | 2,260 | |
TOTAL MISSOURI | 33,830 | ||
Montana - 0.1% | |||
Montana Board Hsg. Single Family: | |||
Series 2017 B, 4% 12/1/48 (e) | 395 | 393 | |
Series 2019 B, 4% 6/1/50 | 355 | 356 | |
Montana Facility Fin. Auth. Series 2021 A, 3% 6/1/50 | 4,010 | 2,761 | |
TOTAL MONTANA | 3,510 | ||
Nebraska - 0.4% | |||
Douglas County Neb Edl. Facilities Rev.: | |||
(Creighton Univ. Proj.) Series 2017: | |||
4% 7/1/34 | 830 | 841 | |
5% 7/1/36 | 570 | 604 | |
(Creighton Univ. Projs.) Series 2021 A, 3% 7/1/51 | 1,795 | 1,226 | |
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.: | |||
Series 2019 B, 4% 9/1/49 (e) | 1,705 | 1,696 | |
Series 2019 E, 3.75% 9/1/49 (e) | 1,855 | 1,838 | |
Series 2020 A, 3.5% 9/1/50 | 1,560 | 1,541 | |
Nebraska Pub. Pwr. District Rev. Series 2016 B: | |||
5% 1/1/37 | 2,050 | 2,140 | |
5% 1/1/40 | 935 | 974 | |
Omaha Arpt. Auth. Arpt. Rev. Series 2017 A: | |||
5% 12/15/25 (e) | 330 | 346 | |
5% 12/15/26 (e) | 1,190 | 1,259 | |
5% 12/15/27 (e) | 830 | 875 | |
5% 12/15/30 (e) | 1,240 | 1,300 | |
5% 12/15/31 (e) | 650 | 680 | |
5% 12/15/33 (e) | 660 | 689 | |
5% 12/15/35 (e) | 1,655 | 1,713 | |
5% 12/15/36 (e) | 420 | 433 | |
TOTAL NEBRASKA | 18,155 | ||
Nevada - 0.2% | |||
Clark County School District Series 2020 B, 3% 6/15/39 | 3,710 | 3,006 | |
Nevada Hsg. Division Single Family Mtg. Rev. Series 2019 B, 4% 10/1/49 | 1,015 | 1,017 | |
Tahoe-Douglas Visitors Auth. Series 2020: | |||
5% 7/1/40 | 1,000 | 996 | |
5% 7/1/45 | 2,605 | 2,564 | |
TOTAL NEVADA | 7,583 | ||
New Hampshire - 1.9% | |||
Nat'l. Fin. Auth. Hosp. Rev. (St. Lukes Univ. Health Network Proj.) Series 2021 B, 3% 8/15/51 (Assured Guaranty Muni. Corp. Insured) | 3,445 | 2,433 | |
Nat'l. Finnance Auth. Series 2020 1, 4.125% 1/20/34 | 5,881 | 5,703 | |
New Hampshire Health & Ed. Facilities Auth.: | |||
(Dartmouth-Hitchcock Oblgtd Grp Proj.) Series 2018 A: | |||
5% 8/1/28 | 895 | 967 | |
5% 8/1/29 | 855 | 924 | |
5% 8/1/30 | 850 | 918 | |
(Partners Healthcare Sys., Inc. Proj.): | |||
Series 2017 5% 7/1/29 | 3,275 | 3,599 | |
Series 2017: | |||
5% 7/1/30 | 2,125 | 2,334 | |
5% 7/1/31 | 4,750 | 5,206 | |
5% 7/1/32 | 3,185 | 3,482 | |
5% 7/1/33 | 2,900 | 3,155 | |
5% 7/1/34 | 4,415 | 4,764 | |
5% 7/1/35 | 4,635 | 4,955 | |
5% 7/1/36 | 4,870 | 5,162 | |
5% 7/1/37 | 4,290 | 4,508 | |
Series 2017, 5% 7/1/44 | 1,590 | 1,538 | |
New Hampshire Health & Ed. Facilities Auth. Rev.: | |||
Series 2012: | |||
4% 7/1/32 | 2,295 | 2,288 | |
5% 7/1/24 | 830 | 831 | |
5% 7/1/25 | 980 | 981 | |
5% 7/1/27 | 415 | 415 | |
Series 2016: | |||
4% 10/1/38 | 2,010 | 1,880 | |
5% 10/1/24 | 1,755 | 1,805 | |
5% 10/1/25 | 1,740 | 1,823 | |
5% 10/1/29 | 5,525 | 5,783 | |
5% 10/1/31 | 4,315 | 4,505 | |
5% 10/1/33 | 3,355 | 3,492 | |
5% 10/1/38 | 6,185 | 6,267 | |
TOTAL NEW HAMPSHIRE | 79,718 | ||
New Jersey - 4.8% | |||
Atlantic County Impt. Auth. (Atlantic City Campus Proj.) Series 2016 A: | |||
5% 7/1/28 (Assured Guaranty Muni. Corp. Insured) | 860 | 916 | |
5% 7/1/30 (Assured Guaranty Muni. Corp. Insured) | 2,105 | 2,243 | |
5% 7/1/32 (Assured Guaranty Muni. Corp. Insured) | 1,035 | 1,102 | |
5% 7/1/33 (Assured Guaranty Muni. Corp. Insured) | 1,075 | 1,143 | |
Lyndhurst Township N J School District Series 2020, 2% 9/1/34 | 1,000 | 800 | |
New Jersey Econ. Dev. Auth.: | |||
(White Horse HMT Urban Renewal LLC Proj.) Series 2020, 5% 1/1/40 (d) | 1,000 | 745 | |
Series A, 5% 11/1/40 | 8,915 | 9,192 | |
Series QQQ, 4% 6/15/46 | 8,255 | 7,155 | |
New Jersey Econ. Dev. Auth. Rev.: | |||
(Black Horse EHT Urban Renewal LLC Proj.) Series 2019 A, 5% 10/1/39 (d) | 910 | 681 | |
Series 2015 XX, 5.25% 6/15/27 | 14,075 | 14,715 | |
Series LLL, 5% 6/15/44 | 2,680 | 2,732 | |
New Jersey Edl. Facility Series 2016 A: | |||
5% 7/1/31 | 1,740 | 1,811 | |
5% 7/1/32 | 1,985 | 2,064 | |
New Jersey Gen. Oblig. Series 2020 A, 5% 6/1/29 | 3,685 | 4,165 | |
New Jersey Health Care Facilities Fing. Auth. Rev.: | |||
Series 2016 A: | |||
5% 7/1/25 (Escrowed to Maturity) | 1,660 | 1,746 | |
5% 7/1/26 (Escrowed to Maturity) | 915 | 983 | |
5% 7/1/26 (Escrowed to Maturity) | 275 | 295 | |
5% 7/1/27 | 620 | 665 | |
5% 7/1/27 (Pre-Refunded to 7/1/26 @ 100) | 420 | 451 | |
5% 7/1/28 | 300 | 322 | |
5% 7/1/29 (Pre-Refunded to 7/1/26 @ 100) | 580 | 623 | |
5% 7/1/29 (Pre-Refunded to 7/1/26 @ 100) | 415 | 445 | |
5% 7/1/30 | 830 | 888 | |
5% 7/1/30 (Pre-Refunded to 7/1/26 @ 100) | 690 | 740 | |
Series 2016: | |||
4% 7/1/48 | 2,400 | 2,008 | |
5% 7/1/41 | 2,865 | 2,878 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | |||
Series 2017 1A, 5% 12/1/26 (e) | 830 | 879 | |
Series 2018 B: | |||
5% 12/1/25 (e) | 3,495 | 3,653 | |
5% 12/1/26 (e) | 1,035 | 1,096 | |
New Jersey Tpk. Auth. Tpk. Rev. Series 2022 B: | |||
4.25% 1/1/43 | 1,680 | 1,682 | |
4.5% 1/1/48 | 20,000 | 20,259 | |
New Jersey Trans. Trust Fund Auth.: | |||
(Trans. Prog.) Series 2019 AA, 5.25% 6/15/43 | 21,525 | 22,361 | |
Series 2006 C, 0% 12/15/30 (FGIC Insured) | 1,200 | 878 | |
Series 2008 A, 0% 12/15/38 | 1,500 | 690 | |
Series 2010 A, 0% 12/15/27 | 9,485 | 7,884 | |
Series 2014 BB2: | |||
5% 6/15/32 | 5,810 | 6,404 | |
5% 6/15/33 | 1,635 | 1,789 | |
5% 6/15/34 | 1,060 | 1,150 | |
Series 2016 A: | |||
5% 6/15/27 | 2,250 | 2,377 | |
5% 6/15/29 | 1,865 | 1,966 | |
Series 2019 BB, 4% 6/15/50 | 2,625 | 2,208 | |
Series 2021 A, 5% 6/15/33 | 2,980 | 3,261 | |
Series 2022 A: | |||
4% 6/15/39 | 5,030 | 4,652 | |
4% 6/15/40 | 5,410 | 4,941 | |
4% 6/15/42 | 7,290 | 6,528 | |
Series 2022 AA: | |||
5% 6/15/32 | 8,500 | 9,455 | |
5% 6/15/34 | 7,460 | 8,156 | |
5% 6/15/36 | 2,215 | 2,378 | |
5% 6/15/37 | 4,235 | 4,493 | |
Series A, 5% 12/15/33 | 680 | 733 | |
Series AA: | |||
4% 6/15/35 | 1,500 | 1,481 | |
4% 6/15/40 | 1,680 | 1,534 | |
4% 6/15/45 | 7,950 | 6,942 | |
4% 6/15/50 | 4,865 | 4,092 | |
5% 6/15/35 | 490 | 524 | |
5% 6/15/39 | 3,000 | 3,124 | |
Series BB, 5% 6/15/50 | 1,885 | 1,902 | |
South Jersey Trans. Auth. Trans. Sys. Rev. Series 2022 A, 4.625% 11/1/47 | 3,500 | 3,298 | |
TOTAL NEW JERSEY | 204,278 | ||
New Mexico - 0.1% | |||
New Mexico Mtg. Fin. Auth. Series 2019 D, 3.75% 1/1/50 | 1,435 | 1,429 | |
Santa Fe Retirement Fac. Series 2019 A: | |||
5% 5/15/34 | 275 | 258 | |
5% 5/15/39 | 205 | 182 | |
5% 5/15/44 | 215 | 181 | |
5% 5/15/49 | 425 | 347 | |
TOTAL NEW MEXICO | 2,397 | ||
New York - 6.8% | |||
Dorm. Auth. New York Univ. Rev.: | |||
(Fordham Univ. Proj.) Series 2017: | |||
4% 7/1/33 | 1,035 | 1,063 | |
4% 7/1/34 | 1,035 | 1,059 | |
Series 2017: | |||
5% 12/1/23 (d) | 1,200 | 1,210 | |
5% 12/1/24 (d) | 1,100 | 1,117 | |
5% 12/1/25 (d) | 1,200 | 1,226 | |
Hempstead Local Dev. Corp. Rev. (Hofstra Univ. Proj.) Series 2021 A, 3% 7/1/51 | 3,310 | 2,381 | |
MTA Hudson Rail Yards Trust Oblig. Series 2016 A, 5% 11/15/56 | 26,320 | 26,088 | |
New York City Edl. Construction Fund Series 2021 B, 5% 4/1/46 | 5,215 | 5,518 | |
New York City Gen. Oblig. Series 2016 E, 5% 8/1/28 | 3,645 | 3,917 | |
New York City Muni. Wtr. Fin. Auth.: | |||
Series 2022 EE, 5% 6/15/45 | 11,240 | 12,090 | |
Series GG 1, 5% 6/15/48 | 3,500 | 3,702 | |
New York City Transitional Fin. Auth. Bldg. Aid Rev. Series 2015 S2, 5% 7/15/35 | 1,465 | 1,522 | |
New York Dorm. Auth. Rev. Series 2022 A: | |||
5% 7/15/37 | 785 | 808 | |
5% 7/15/42 | 2,210 | 2,247 | |
5% 7/15/50 | 5,710 | 5,722 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2014 B, 5% 11/15/44 | 8,280 | 8,015 | |
Series 2015 A1, 5% 11/15/45 | 6,170 | 5,950 | |
Series 2020 D: | |||
4% 11/15/46 | 39,325 | 32,888 | |
4% 11/15/47 | 2,710 | 2,250 | |
New York State Dorm. Auth.: | |||
Series 2019 D, 3% 2/15/49 | 7,555 | 5,731 | |
Series 2021 E: | |||
3% 3/15/50 | 3,275 | 2,465 | |
4% 3/15/45 | 13,955 | 13,151 | |
New York State Mtg. Agcy. Homeowner Mtg. Series 221, 3.5% 10/1/32 (e) | 755 | 739 | |
New York State Urban Dev. Corp.: | |||
Series 2020 A, 5% 3/15/42 | 2,000 | 2,141 | |
Series 2020 C, 5% 3/15/47 | 15,000 | 15,878 | |
Series 2020 E: | |||
3% 3/15/50 | 4,230 | 3,190 | |
4% 3/15/44 | 28,000 | 26,291 | |
4% 3/15/45 | 22,500 | 21,022 | |
New York Trans. Dev. Corp.: | |||
(Laguardia Arpt. Term. Redev. Proj.) Series 2016 A, 5% 7/1/41 (e) | 3,560 | 3,463 | |
(Term. 4 John F. Kennedy Int'l. Arpt. Proj.) Series 2022: | |||
5% 12/1/32 (e) | 2,755 | 2,947 | |
5% 12/1/33 (e) | 4,270 | 4,542 | |
5% 12/1/34 (e) | 4,665 | 4,900 | |
5% 12/1/35 (e) | 2,330 | 2,426 | |
5% 12/1/36 (e) | 1,590 | 1,644 | |
5% 12/1/37 (e) | 4,240 | 4,363 | |
5% 12/1/38 (e) | 10,300 | 10,559 | |
5% 12/1/39 (e) | 7,875 | 8,031 | |
5% 12/1/40 (e) | 6,665 | 6,761 | |
5% 12/1/41 (e) | 6,060 | 6,116 | |
5% 12/1/42 (e) | 3,030 | 3,051 | |
New York Urban Dev. Corp. Rev.: | |||
(New York State Gen. Oblig. Proj.) Series 2017 A, 5% 3/15/34 | 5,215 | 5,609 | |
Gen. Oblig. (New York State Gen. Oblig. Proj.) Series 2017 A, 5% 3/15/32 | 4,470 | 4,835 | |
Oneida County Local Dev. Corp. Rev. (Mohawk Valley Health Sys. Proj.) Series 2019 A: | |||
4% 12/1/33 (Assured Guaranty Muni. Corp. Insured) | 1,200 | 1,204 | |
5% 12/1/31 (Assured Guaranty Muni. Corp. Insured) | 1,500 | 1,662 | |
Onondaga Civic Dev. Corp. (Le Moyne College Proj.) Series 2018, 5% 1/1/43 | 830 | 830 | |
Suffolk County Econ. Dev. Corp. Rev. Series 2021: | |||
4.625% 11/1/31 (d) | 750 | 630 | |
5.375% 11/1/54 (d) | 1,150 | 867 | |
Triborough Bridge & Tunnel Auth. Revs. Series 2015 A, 5.25% 11/15/45 | 4,140 | 4,269 | |
TOTAL NEW YORK | 288,090 | ||
New York And New Jersey - 0.1% | |||
Port Auth. of New York & New Jersey Series 194, 5.25% 10/15/55 | 3,915 | 4,054 | |
North Carolina - 0.6% | |||
Charlotte Ctfs. of Prtn. (Convention Facility Projs.) Series 2019 A: | |||
5% 6/1/44 | 4,000 | 4,297 | |
5% 6/1/46 | 2,120 | 2,270 | |
Charlotte Int'l. Arpt. Rev.: | |||
Series 2017 A: | |||
5% 7/1/30 | 1,265 | 1,380 | |
5% 7/1/33 | 1,040 | 1,121 | |
5% 7/1/37 | 2,910 | 3,063 | |
Series 2017 B: | |||
5% 7/1/25 (e) | 85 | 88 | |
5% 7/1/26 (e) | 85 | 89 | |
5% 7/1/27 (e) | 160 | 170 | |
5% 7/1/28 (e) | 135 | 143 | |
5% 7/1/29 (e) | 195 | 206 | |
5% 7/1/30 (e) | 210 | 222 | |
5% 7/1/31 (e) | 395 | 416 | |
5% 7/1/32 (e) | 420 | 442 | |
5% 7/1/33 (e) | 440 | 462 | |
5% 7/1/34 (e) | 460 | 481 | |
5% 7/1/35 (e) | 315 | 328 | |
5% 7/1/36 (e) | 255 | 265 | |
5% 7/1/37 (e) | 300 | 310 | |
5% 7/1/42 (e) | 975 | 994 | |
Series 2017 C, 4% 7/1/32 | 1,190 | 1,217 | |
New Hanover County Hosp. Rev. Series 2017: | |||
5% 10/1/27 (Escrowed to Maturity) | 275 | 302 | |
5% 10/1/42 (Pre-Refunded to 10/1/27 @ 100) | 2,215 | 2,435 | |
5% 10/1/47 (Pre-Refunded to 10/1/27 @ 100) | 1,000 | 1,099 | |
North Carolina Med. Care Commission Health Care Facilities Rev.: | |||
Series 2020 A, 3% 7/1/45 | 2,590 | 1,944 | |
Series 2021 A: | |||
4% 3/1/41 | 1,050 | 819 | |
4% 3/1/51 | 2,075 | 1,456 | |
TOTAL NORTH CAROLINA | 26,019 | ||
North Dakota - 0.1% | |||
Univ. of North Dakota Series 2021 A, 3% 6/1/61 (Assured Guaranty Muni. Corp. Insured) | 5,480 | 3,641 | |
Ohio - 2.2% | |||
Akron Bath Copley Hosp. District Rev. Series 2016, 5.25% 11/15/46 | 7,285 | 7,361 | |
Allen County Hosp. Facilities Rev. (Mercy Health) Series 2017 A: | |||
5% 8/1/25 | 2,475 | 2,599 | |
5% 8/1/26 | 1,645 | 1,757 | |
5% 8/1/27 | 2,060 | 2,233 | |
5% 8/1/28 | 2,060 | 2,256 | |
5% 8/1/29 | 4,130 | 4,522 | |
5% 8/1/30 | 3,520 | 3,850 | |
Buckeye Tobacco Settlement Fing. Auth.: | |||
Series 2020 A2: | |||
3% 6/1/48 | 3,870 | 2,724 | |
4% 6/1/48 | 1,265 | 1,082 | |
5% 6/1/30 | 2,000 | 2,145 | |
5% 6/1/32 | 1,665 | 1,773 | |
5% 6/1/33 | 2,000 | 2,122 | |
5% 6/1/34 | 420 | 443 | |
Series 2020 B2, 5% 6/1/55 | 9,515 | 8,259 | |
Columbus City School District Series 2016 A, 5% 12/1/29 | 1,740 | 1,869 | |
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013, 5.25% 6/15/43 | 3,470 | 3,382 | |
Franklin County Convention Facilities Auth. (Greater Columbus Convention Ctr. Hotel Expansion Proj.) Series 2019, 5% 12/1/44 | 470 | 465 | |
Franklin County Convention Facilities Authorities (Greater Columbus Convention Ctr. Hotel Expansion Proj.) Series 2019: | |||
5% 12/1/46 | 4,700 | 5,040 | |
5% 12/1/51 | 6,900 | 7,361 | |
Lancaster Port Auth. Gas Rev. Bonds Series 2019, 5%, tender 2/1/25 (b) | 1,850 | 1,881 | |
Muskingum County Hosp. Facilities (Genesis Healthcare Sys. Obligated Group Proj.) Series 2013, 5% 2/15/33 | 3,685 | 3,686 | |
Ohio Hosp. Rev. Series 2020 A, 4% 1/15/50 | 975 | 849 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. (Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 | 490 | 497 | |
Ohio Tpk. Commission Tpk. Rev.: | |||
(Infrastructure Proj.) Series 2005 A, 0% 2/15/42 | 2,150 | 900 | |
(Infrastructure Projs.) Series 2022 A: | |||
5% 2/15/32 | 4,930 | 5,808 | |
5% 2/15/38 | 1,155 | 1,309 | |
5% 2/15/39 | 240 | 271 | |
Scioto County Hosp. Facilities Rev.: | |||
Series 2016: | |||
5% 2/15/29 | 1,815 | 1,882 | |
5% 2/15/34 | 370 | 378 | |
Series 2019, 5% 2/15/29 | 3,525 | 3,678 | |
Univ. of Akron Gen. Receipts Series 2016 A, 5% 1/1/35 | 3,725 | 3,841 | |
Washington County Hosp. Rev. Series 2022: | |||
6% 12/1/28 | 1,550 | 1,573 | |
6% 12/1/29 | 1,645 | 1,674 | |
6% 12/1/30 | 1,750 | 1,782 | |
6% 12/1/31 | 1,850 | 1,880 | |
TOTAL OHIO | 93,132 | ||
Oklahoma - 0.2% | |||
Oklahoma City Pub. Property Auth. Hotel Tax Rev. Series 2015: | |||
5% 10/1/28 | 1,050 | 1,109 | |
5% 10/1/29 | 1,160 | 1,225 | |
5% 10/1/36 | 830 | 874 | |
5% 10/1/39 | 1,655 | 1,741 | |
Oklahoma Dev. Fin. Auth. Rev. (Oklahoma City Univ. Proj.) Series 2019, 5% 8/1/44 | 1,915 | 1,854 | |
TOTAL OKLAHOMA | 6,803 | ||
Oregon - 0.9% | |||
Multnomah County School District #1J Portland Series 2020 B, 3% 6/15/36 | 1,525 | 1,369 | |
Oregon State Hsg. & Cmnty. Svcs. Dept. Series 2019 A, 4% 7/1/50 | 5,710 | 5,717 | |
Port of Portland Arpt. Rev.: | |||
Series 2020 27A, 5% 7/1/45 (e) | 2,980 | 3,042 | |
Series 2022 28: | |||
5% 7/1/41 (e) | 12,420 | 12,865 | |
5% 7/1/52 (e) | 10,500 | 10,655 | |
Salem Hosp. Facility Auth. Rev.: | |||
(Salem Health Projs.) Series 2019 A, 3% 5/15/49 | 5,975 | 4,257 | |
Series 2016 A, 4% 5/15/41 | 1,680 | 1,616 | |
TOTAL OREGON | 39,521 | ||
Pennsylvania - 8.6% | |||
Allegheny County Arpt. Auth. Rev. Series 2021 A: | |||
4% 1/1/38 (e) | 2,545 | 2,386 | |
4% 1/1/39 (e) | 3,075 | 2,872 | |
4% 1/1/40 (e) | 10,000 | 9,247 | |
4% 1/1/41 (e) | 10,000 | 9,166 | |
5% 1/1/29 (e) | 4,185 | 4,471 | |
5% 1/1/30 (e) | 4,000 | 4,312 | |
5% 1/1/31 (e) | 3,000 | 3,261 | |
5% 1/1/32 (e) | 4,000 | 4,323 | |
5% 1/1/51 (e) | 20,480 | 20,685 | |
5% 1/1/56 (e) | 12,420 | 12,498 | |
Allegheny County Indl. Dev. Auth. Rev. Series 2021: | |||
3.5% 12/1/31 | 1,300 | 1,073 | |
4% 12/1/41 | 2,450 | 1,780 | |
4.25% 12/1/50 | 2,730 | 1,872 | |
Bucks County Indl. Dev. Auth. Hosp. Rev. Series 2021: | |||
5% 7/1/32 | 495 | 501 | |
5% 7/1/33 | 1,150 | 1,157 | |
5% 7/1/40 | 3,100 | 2,937 | |
Cap. Region Wtr. Wtr. Rev. Series 2018: | |||
5% 7/15/27 | 830 | 905 | |
5% 7/15/29 | 1,290 | 1,423 | |
5% 7/15/32 | 830 | 912 | |
Dauphin County Gen. Auth. (Pinnacle Health Sys. Proj.) Series 2016 A: | |||
5% 6/1/28 | 885 | 930 | |
5% 6/1/29 | 970 | 1,016 | |
Delaware County Auth. Rev. (Cabrini College) Series 2017, 5% 7/1/47 | 3,310 | 3,045 | |
Doylestown Hosp. Auth. Hosp. Rev. Series 2016 A, 5% 7/1/46 | 1,205 | 1,010 | |
Dubois Hosp. Auth. Hosp. Rev.: | |||
(Penn Highlands Healthcare Proj.) Series 2018: | |||
4% 7/15/33 | 2,070 | 2,073 | |
4% 7/15/35 | 2,135 | 2,111 | |
4% 7/15/37 | 4,140 | 4,006 | |
5% 7/15/25 | 330 | 342 | |
5% 7/15/26 | 1,035 | 1,088 | |
5% 7/15/27 | 1,745 | 1,849 | |
5% 7/15/28 | 1,285 | 1,369 | |
5% 7/15/29 | 1,385 | 1,470 | |
5% 7/15/30 | 1,815 | 1,922 | |
5% 7/15/31 | 1,240 | 1,310 | |
5% 7/15/32 | 1,305 | 1,376 | |
5% 7/15/34 | 1,405 | 1,473 | |
5% 7/15/36 | 4,150 | 4,305 | |
5% 7/15/38 | 4,990 | 5,086 | |
5% 7/15/43 | 5,795 | 5,906 | |
Series 2020, 4% 7/15/45 | 2,900 | 2,548 | |
Lancaster County Hosp. Auth. Health Ctr. Rev. Series 2021, 5% 11/1/51 | 3,595 | 3,628 | |
Lehigh County Gen. Purp. Auth. Rev. (Muhlenberg College Proj.) Series 2017, 5% 2/1/39 | 2,140 | 2,176 | |
Monroe County Hosp. Auth. Rev. Series 2016: | |||
5% 7/1/26 | 830 | 877 | |
5% 7/1/27 | 830 | 876 | |
5% 7/1/28 | 830 | 874 | |
5% 7/1/34 | 3,045 | 3,127 | |
5% 7/1/36 | 1,655 | 1,687 | |
Montgomery County Higher Ed. & Health Auth. Rev.: | |||
Series 2014 A: | |||
5% 10/1/23 | 325 | 327 | |
5% 10/1/24 | 965 | 981 | |
5% 10/1/25 | 865 | 872 | |
5% 10/1/27 | 415 | 418 | |
Series 2016 A: | |||
5% 10/1/28 | 1,255 | 1,269 | |
5% 10/1/29 | 2,150 | 2,173 | |
5% 10/1/31 | 3,790 | 3,825 | |
5% 10/1/36 | 6,790 | 6,747 | |
5% 10/1/40 | 4,700 | 4,546 | |
Northampton County Gen. Purp. Auth. Hosp. Rev.: | |||
(St. Luke's Univ. Health Network Proj.): | |||
Series 2016 A, 5% 8/15/36 | 615 | 635 | |
Series 2018 A, 4% 8/15/48 | 10,545 | 9,631 | |
Series 2016 A, 5% 8/15/46 | 24,835 | 24,948 | |
Pennsylvania Higher Edl. Facilities Auth. Rev.: | |||
(Drexel Univ. Proj.): | |||
Series 2016, 5% 5/1/35 | 2,880 | 2,991 | |
Series 2017: | |||
5% 5/1/35 | 1,025 | 1,076 | |
5% 5/1/37 | 1,295 | 1,347 | |
5% 5/1/41 | 5,860 | 6,029 | |
Series 2016: | |||
5% 5/1/28 | 415 | 438 | |
5% 5/1/32 | 1,040 | 1,088 | |
5% 5/1/33 | 1,405 | 1,468 | |
Pennsylvania State Univ. Series 2020 A, 4% 9/1/50 | 2,950 | 2,807 | |
Pennsylvania Tpk. Commission Tpk. Rev. Series 2021 B, 5% 12/1/38 | 6,680 | 7,298 | |
Philadelphia Arpt. Rev.: | |||
Series 2017 A: | |||
5% 7/1/25 | 830 | 869 | |
5% 7/1/26 | 830 | 885 | |
5% 7/1/27 | 660 | 715 | |
Series 2017 B: | |||
5% 7/1/26 (e) | 2,485 | 2,605 | |
5% 7/1/27 (e) | 2,070 | 2,184 | |
5% 7/1/28 (e) | 2,485 | 2,611 | |
5% 7/1/29 (e) | 1,860 | 1,951 | |
5% 7/1/32 (e) | 2,485 | 2,594 | |
5% 7/1/33 (e) | 1,865 | 1,943 | |
5% 7/1/34 (e) | 3,310 | 3,437 | |
5% 7/1/37 (e) | 3,725 | 3,820 | |
Philadelphia Auth. for Indl. Dev. Series 2017, 5% 11/1/47 | 5,425 | 5,457 | |
Philadelphia Gas Works Rev. Series 16 A, 4% 8/1/45 (Assured Guaranty Muni. Corp. Insured) | 2,685 | 2,565 | |
Philadelphia School District: | |||
Series 2016 D: | |||
5% 9/1/26 | 7,600 | 8,089 | |
5% 9/1/27 | 8,020 | 8,567 | |
5% 9/1/28 | 6,705 | 7,158 | |
Series 2016 F: | |||
5% 9/1/28 | 11,600 | 12,355 | |
5% 9/1/29 | 7,540 | 8,020 | |
Series 2018 A: | |||
5% 9/1/36 | 1,575 | 1,685 | |
5% 9/1/37 | 910 | 969 | |
5% 9/1/38 | 1,450 | 1,540 | |
Series 2018 B, 5% 9/1/43 | 2,115 | 2,221 | |
Series 2019 A: | |||
4% 9/1/35 | 5,215 | 5,207 | |
5% 9/1/33 | 2,480 | 2,744 | |
5% 9/1/34 | 7,225 | 7,895 | |
Series 2019 C, 5% 9/1/33 | 2,540 | 2,791 | |
Series F: | |||
5% 9/1/30 | 5,625 | 5,963 | |
5% 9/1/30 (Pre-Refunded to 9/1/26 @ 100) | 20 | 22 | |
Philadelphia Wtr. & Wastewtr. Rev. Series 2018 A: | |||
5% 10/1/35 | 4,190 | 4,578 | |
5% 10/1/36 | 6,210 | 6,743 | |
5% 10/1/48 | 6,000 | 6,238 | |
Pittsburgh Wtr. & Swr. Auth. Wtr. & Swr. Sys. Rev.: | |||
Series 2019 A, 5% 9/1/39 (Assured Guaranty Muni. Corp. Insured) | 2,315 | 2,493 | |
Series 2019 A, 5% 9/1/44 (Assured Guaranty Muni. Corp. Insured) | 775 | 821 | |
State Pub. School Bldg. Auth. Lease Rev. (The School District of Philadelphia Proj.) Series 2015 A, 5% 6/1/26 | 1,055 | 1,096 | |
Union County Hosp. Auth. Rev. Series 2018 B: | |||
5% 8/1/43 | 4,605 | 4,696 | |
5% 8/1/48 | 5,335 | 5,380 | |
TOTAL PENNSYLVANIA | 363,082 | ||
Puerto Rico - 1.1% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth.: | |||
Series 2021 B: | |||
4% 7/1/42 (d) | 1,085 | 870 | |
5% 7/1/33 (d) | 1,580 | 1,526 | |
5% 7/1/37 (d) | 6,625 | 6,257 | |
Series 2022 A, 4% 7/1/42 (d) | 5,545 | 4,444 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 16,179 | 8,746 | |
4% 7/1/33 | 11,631 | 10,085 | |
4% 7/1/35 | 4,213 | 3,546 | |
5.625% 7/1/27 | 1,360 | 1,386 | |
5.625% 7/1/29 | 3,903 | 3,993 | |
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev. Series 2018 A1, 0% 7/1/31 | 9,290 | 6,052 | |
TOTAL PUERTO RICO | 46,905 | ||
Rhode Island - 0.3% | |||
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev.: | |||
Series 2016 B: | |||
5% 9/1/31 | 655 | 637 | |
5% 9/1/36 | 5,810 | 5,349 | |
Series 2016, 5% 5/15/39 | 5,215 | 5,238 | |
Rhode Island Hsg. & Mtg. Fin. Corp. Series 2019 70, 4% 10/1/49 | 1,050 | 1,052 | |
Rhode Island Student Ln. Auth. Student Ln. Rev. Series A: | |||
3.5% 12/1/34 (e) | 1,200 | 1,166 | |
5% 12/1/25 (e) | 1,000 | 1,045 | |
TOTAL RHODE ISLAND | 14,487 | ||
South Carolina - 1.6% | |||
Charleston County Arpt. District Series 2019, 5% 7/1/43 | 2,085 | 2,167 | |
Scago Edl. Facilities Corp. for Colleton School District (School District of Colleton County Proj.) Series 2015: | |||
5% 12/1/25 | 2,275 | 2,382 | |
5% 12/1/28 | 4,690 | 4,908 | |
South Carolina Hsg. Fin. & Dev. Auth. Mtg. Rev. Series 2019 A, 4% 1/1/50 | 1,780 | 1,785 | |
South Carolina Jobs-Econ. Dev. Auth. Series 2019 C: | |||
5% 7/1/32 | 1,010 | 1,086 | |
5% 7/1/33 | 4,200 | 4,504 | |
South Carolina Ports Auth. Ports Rev. Series 2015, 5.25% 7/1/55 (Pre-Refunded to 7/1/25 @ 100) (e) | 910 | 953 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2016 A: | |||
5% 12/1/29 | 2,485 | 2,614 | |
5% 12/1/38 | 250 | 254 | |
Series 2016 B: | |||
5% 12/1/31 | 910 | 962 | |
5% 12/1/41 | 12,515 | 12,722 | |
Spartanburg County Reg'l. Health Series 2017 A: | |||
4% 4/15/43 | 15,510 | 14,101 | |
4% 4/15/48 | 10,815 | 9,532 | |
5% 4/15/48 | 10,595 | 10,790 | |
TOTAL SOUTH CAROLINA | 68,760 | ||
South Dakota - 0.1% | |||
South Dakota Health & Edl. Facilities Auth. Rev.: | |||
(Avera Health Proj.) Series 2017, 5% 7/1/31 | 540 | 584 | |
Series 2017: | |||
5% 7/1/26 | 250 | 266 | |
5% 7/1/28 | 250 | 272 | |
5% 7/1/29 | 470 | 511 | |
Series 2020 A, 3% 9/1/45 | 3,355 | 2,500 | |
TOTAL SOUTH DAKOTA | 4,133 | ||
Tennessee - 0.5% | |||
Chattanooga Health Ed. & Hsg. Facility Board Rev.: | |||
Series 2019 A1: | |||
4% 8/1/44 | 2,200 | 1,897 | |
5% 8/1/31 | 1,000 | 1,065 | |
5% 8/1/33 | 1,250 | 1,325 | |
Series 2019 A2, 5% 8/1/35 | 765 | 802 | |
Metropolitan Nashville Arpt. Auth. Rev.: | |||
Series 2015 B, 4% 7/1/25 (e) | 1,755 | 1,778 | |
Series 2019 B, 5% 7/1/54 (e) | 9,580 | 9,637 | |
Tennessee Hsg. Dev. Agcy. Series 2022 2, 5% 1/1/53 | 4,750 | 4,951 | |
TOTAL TENNESSEE | 21,455 | ||
Texas - 4.8% | |||
Austin Arpt. Sys. Rev.: | |||
Series 2014: | |||
5% 11/15/26 (e) | 830 | 854 | |
5% 11/15/27 (e) | 1,035 | 1,063 | |
5% 11/15/28 (e) | 1,240 | 1,271 | |
5% 11/15/39 (e) | 2,725 | 2,752 | |
Series 2017 B: | |||
5% 11/15/28 (e) | 830 | 871 | |
5% 11/15/30 (e) | 1,275 | 1,333 | |
5% 11/15/32 (e) | 1,005 | 1,048 | |
5% 11/15/35 (e) | 1,035 | 1,069 | |
5% 11/15/36 (e) | 1,385 | 1,427 | |
5% 11/15/37 (e) | 1,165 | 1,197 | |
5% 11/15/41 (e) | 4,725 | 4,811 | |
Central Reg'l. Mobility Auth. Series 2015 A: | |||
5% 1/1/28 | 1,075 | 1,116 | |
5% 1/1/31 (Pre-Refunded to 7/1/25 @ 100) | 395 | 417 | |
5% 1/1/32 (Pre-Refunded to 7/1/25 @ 100) | 830 | 877 | |
Collin County Series 2022, 4% 2/15/39 | 1,800 | 1,732 | |
Dallas Wtrwks. & Swr. Sys. Rev. Series 2020 C: | |||
4% 10/1/35 | 1,000 | 1,036 | |
4% 10/1/39 | 5,000 | 5,074 | |
4% 10/1/40 | 2,000 | 2,018 | |
Grand Parkway Trans. Corp.: | |||
Series 2018 A, 5% 10/1/38 | 2,655 | 2,821 | |
Series 2020 C, 4% 10/1/49 | 3,100 | 2,747 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. (Texas Childrens Hosp., Proj.) Series 2015-1 5% 10/1/29 | 1,115 | 1,174 | |
Harris County Gen. Oblig. Series 2002: | |||
0% 8/15/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,485 | 2,301 | |
0% 8/15/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 4,140 | 3,490 | |
Houston Arpt. Sys. Rev.: | |||
Series 2018 A, 5% 7/1/41 (e) | 1,000 | 1,025 | |
Series 2018 C: | |||
5% 7/1/29 (e) | 1,655 | 1,760 | |
5% 7/1/30 (e) | 1,765 | 1,876 | |
5% 7/1/31 (e) | 1,240 | 1,316 | |
5% 7/1/32 (e) | 1,450 | 1,536 | |
Houston Gen. Oblig. Series 2017 A: | |||
5% 3/1/31 | 3,835 | 4,143 | |
5% 3/1/32 | 1,635 | 1,764 | |
Houston Util. Sys. Rev. Series 2020 C: | |||
5% 11/15/33 | 2,000 | 2,270 | |
5% 11/15/34 | 2,500 | 2,799 | |
Irving Hosp. Auth. Hosp. Rev. Series 2017 A: | |||
5% 10/15/28 | 390 | 410 | |
5% 10/15/30 | 1,570 | 1,641 | |
5% 10/15/32 | 830 | 865 | |
5% 10/15/36 | 545 | 561 | |
5% 10/15/37 | 930 | 954 | |
5% 10/15/38 | 1,325 | 1,356 | |
5% 10/15/44 | 1,310 | 1,328 | |
Love Field Arpt. Modernization Rev.: | |||
Series 2015: | |||
5% 11/1/26 (e) | 830 | 865 | |
5% 11/1/27 (e) | 1,780 | 1,851 | |
5% 11/1/28 (e) | 2,755 | 2,857 | |
5% 11/1/29 (e) | 1,655 | 1,711 | |
5% 11/1/32 (e) | 3,055 | 3,152 | |
Series 2017: | |||
5% 11/1/24 (e) | 830 | 854 | |
5% 11/1/25 (e) | 830 | 866 | |
5% 11/1/26 (e) | 830 | 877 | |
5% 11/1/27 (e) | 830 | 874 | |
5% 11/1/28 (e) | 1,450 | 1,522 | |
5% 11/1/29 (e) | 1,035 | 1,082 | |
5% 11/1/30 (e) | 830 | 867 | |
5% 11/1/31 (e) | 1,840 | 1,920 | |
5% 11/1/32 (e) | 2,135 | 2,225 | |
5% 11/1/33 (e) | 830 | 864 | |
5% 11/1/34 (e) | 830 | 860 | |
5% 11/1/36 (e) | 830 | 854 | |
Lower Colorado River Auth. Rev. Series 2015 D: | |||
5% 5/15/28 | 1,820 | 1,902 | |
5% 5/15/30 | 4,140 | 4,326 | |
New Hope Cultural Ed. Facilities Fin. Corp. (Childrens Med. Ctr. of Dallas) Series 2017 A: | |||
5% 8/15/27 | 625 | 682 | |
5% 8/15/29 | 1,655 | 1,795 | |
5% 8/15/47 | 1,890 | 1,935 | |
Newark Higher Ed. Fin. Corp. (Abilene Christian Univ. Proj.) Series 2016 A: | |||
5% 4/1/27 | 595 | 626 | |
5% 4/1/30 | 2,825 | 2,970 | |
North Texas Tollway Auth. Rev.: | |||
(Sr. Lien Proj.) Series 2017 A: | |||
5% 1/1/31 | 830 | 879 | |
5% 1/1/33 | 975 | 1,046 | |
5% 1/1/34 | 1,240 | 1,327 | |
5% 1/1/34 | 2,485 | 2,894 | |
5% 1/1/35 | 1,820 | 1,940 | |
5% 1/1/36 | 4,965 | 5,261 | |
5% 1/1/37 | 6,625 | 6,974 | |
(Sub Lien Proj.) Series 2017 B: | |||
5% 1/1/30 | 350 | 368 | |
5% 1/1/31 | 495 | 520 | |
Series 2015 A, 5% 1/1/32 | 2,775 | 2,864 | |
Series 2016 A, 5% 1/1/36 | 1,035 | 1,085 | |
Series 2017 A: | |||
5% 1/1/38 | 300 | 300 | |
5% 1/1/38 (Pre-Refunded to 1/1/23 @ 100) | 2,390 | 2,390 | |
San Antonio Independent School District Series 2016, 5% 8/15/31 | 3,590 | 3,873 | |
Southwest Higher Ed. Auth. Rev. (Southern Methodist Univ., TX. Proj.) Series 2017: | |||
5% 10/1/29 | 375 | 407 | |
5% 10/1/30 | 580 | 627 | |
5% 10/1/31 | 520 | 560 | |
5% 10/1/39 | 1,030 | 1,092 | |
5% 10/1/40 | 830 | 878 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev.: | |||
Series 2016 A, 4% 2/15/35 | 4,140 | 4,171 | |
Series 2018 B, 5% 7/1/43 | 1,500 | 1,536 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Series 2019, 2.95% 7/1/36 | 4,390 | 3,908 | |
Texas Dept. of Hsg. & Cmnty. Affairs Single Family Mtg. Rev.: | |||
Series 2019 A, 4% 3/1/50 | 3,680 | 3,692 | |
Series A, 3.5% 3/1/51 | 3,360 | 3,311 | |
Texas Private Activity Bond Surface Trans. Corp. Series 2013, 6.75% 6/30/43 (e) | 12,420 | 12,617 | |
Texas State Univ. Sys. Fing. Rev. Series 2017 A: | |||
5% 3/15/29 | 3,530 | 3,817 | |
5% 3/15/31 | 2,690 | 2,895 | |
Texas Wtr. Dev. Board Rev.: | |||
Series 2020, 3% 8/1/39 | 1,165 | 1,010 | |
Series 2021, 2.5% 10/15/39 | 3,000 | 2,358 | |
Univ. of Houston Univ. Revs. Series 2017 A: | |||
5% 2/15/33 | 3,310 | 3,503 | |
5% 2/15/34 | 4,140 | 4,379 | |
5% 2/15/36 | 2,485 | 2,619 | |
Univ. of North Texas Univ. Rev. Series 2017 A, 5% 4/15/32 | 1,740 | 1,882 | |
Univ. of Texas Board of Regents Sys. Rev. Series 2019 A, 5% 8/15/29 | 1,850 | 2,119 | |
Univ. of Texas Permanent Univ. Fund Rev. Series 2016 B, 5% 7/1/29 | 1,685 | 1,822 | |
Waller Independent School District Series 2020, 3% 2/15/39 | 1,850 | 1,558 | |
Weatherford Independent School District Series 2002, 0% 2/15/33 | 5,785 | 4,035 | |
TOTAL TEXAS | 202,957 | ||
Utah - 1.4% | |||
Salt Lake City Arpt. Rev.: | |||
Series 2017 A: | |||
5% 7/1/25 (e) | 1,655 | 1,717 | |
5% 7/1/27 (e) | 3,500 | 3,714 | |
5% 7/1/29 (e) | 3,090 | 3,252 | |
5% 7/1/30 (e) | 2,275 | 2,394 | |
5% 7/1/31 (e) | 4,345 | 4,568 | |
5% 7/1/33 (e) | 3,310 | 3,461 | |
5% 7/1/35 (e) | 3,310 | 3,433 | |
5% 7/1/36 (e) | 4,470 | 4,620 | |
5% 7/1/37 (e) | 3,520 | 3,624 | |
Series 2018 A: | |||
5% 7/1/31 (e) | 2,000 | 2,123 | |
5% 7/1/32 (e) | 4,310 | 4,567 | |
5% 7/1/33 (e) | 1,420 | 1,498 | |
5.25% 7/1/48 (e) | 5,655 | 5,787 | |
Utah County Hosp. Rev. Series 2020 A: | |||
5% 5/15/43 | 5,500 | 5,870 | |
5% 5/15/50 | 9,000 | 9,301 | |
TOTAL UTAH | 59,929 | ||
Vermont - 0.7% | |||
Vermont Edl. & Health Bldg. Fin. Agcy. Rev.: | |||
(Champlain College Proj.) Series 2016 A: | |||
5% 10/15/41 | 3,810 | 3,683 | |
5% 10/15/46 | 4,720 | 4,439 | |
(Middlebury College Proj.) Series 2020, 5% 11/1/49 | 18,500 | 19,644 | |
Vermont Student Assistant Corp. Ed. Ln. Rev. Series 2019 A, 5% 6/15/28 (e) | 1,430 | 1,496 | |
TOTAL VERMONT | 29,262 | ||
Virginia - 0.6% | |||
Fredericksburg Econ. Dev. Auth. Rev. Series 2014: | |||
5% 6/15/25 | 3,860 | 3,972 | |
5% 6/15/30 | 1,035 | 1,056 | |
Lynchburg Econ. Dev. Series 2021, 3% 1/1/51 | 3,000 | 2,071 | |
Stafford County Econ. Dev. Auth. Hosp. Facilities Rev.: | |||
(Mary Washington Hosp. Proj.) Series 2016, 3% 6/15/29 | 525 | 509 | |
Series 2016: | |||
4% 6/15/37 | 595 | 568 | |
5% 6/15/27 | 1,240 | 1,309 | |
5% 6/15/30 | 540 | 564 | |
5% 6/15/33 | 350 | 363 | |
5% 6/15/34 | 665 | 687 | |
5% 6/15/35 | 1,820 | 1,872 | |
Virginia Commonwealth Trans. Board Rev. (Virginia Gen. Oblig. Proj.) Series 2017 A, 5% 5/15/32 | 725 | 800 | |
Virginia Pub. Bldg. Auth. Pub. Facilities Rev. Series 2019 A, 4% 8/1/36 | 4,505 | 4,636 | |
Winchester Econ. Dev. Auth. Series 2015: | |||
5% 1/1/31 | 2,070 | 2,175 | |
5% 1/1/34 | 1,240 | 1,291 | |
5% 1/1/35 | 1,240 | 1,285 | |
5% 1/1/44 | 830 | 834 | |
TOTAL VIRGINIA | 23,992 | ||
Washington - 3.1% | |||
Port of Seattle Rev.: | |||
Series 2016 B: | |||
5% 10/1/28 (e) | 2,900 | 3,047 | |
5% 10/1/30 (e) | 1,655 | 1,725 | |
Series 2019 A, 4% 4/1/44 (e) | 2,525 | 2,240 | |
Washington Convention Ctr. Pub. Facilities: | |||
Series 2021 B, 3% 7/1/58 (Assured Guaranty Muni. Corp. Insured) | 12,930 | 8,663 | |
Series 2021, 4% 7/1/31 | 17,595 | 16,093 | |
Washington Gen. Oblig.: | |||
Series 2020 A, 5% 8/1/33 | 1,260 | 1,426 | |
Series 2021 A, 5% 8/1/43 | 2,300 | 2,480 | |
Series 2021 C, 5% 2/1/44 | 270 | 293 | |
Series 2022 A, 5% 8/1/37 | 33,745 | 38,062 | |
Series 2022 C, 4% 7/1/35 | 4,200 | 4,374 | |
Series 2022 D: | |||
4% 7/1/35 | 1,800 | 1,875 | |
4% 7/1/36 | 5,735 | 5,929 | |
4% 7/1/37 | 4,000 | 4,105 | |
Series R-2017 A, 5% 8/1/30 | 1,685 | 1,806 | |
Washington Health Care Facilities Auth. Rev.: | |||
(Overlake Hosp. Med. Ctr., WA. Proj.) Series 2017 B: | |||
5% 7/1/25 | 675 | 704 | |
5% 7/1/27 | 1,285 | 1,372 | |
5% 7/1/28 | 1,570 | 1,685 | |
5% 7/1/29 | 615 | 655 | |
5% 7/1/30 | 735 | 779 | |
5% 7/1/31 | 1,120 | 1,181 | |
5% 7/1/32 | 1,655 | 1,740 | |
5% 7/1/33 | 2,345 | 2,458 | |
5% 7/1/34 | 540 | 564 | |
5% 7/1/42 | 4,685 | 4,718 | |
Series 2015, 5% 1/1/27 (Pre-Refunded to 7/1/25 @ 100) | 1,910 | 2,019 | |
Series 2019 A1, 5% 8/1/38 | 1,000 | 1,034 | |
Series 2019 A2, 5% 8/1/33 | 2,000 | 2,120 | |
Washington Higher Ed. Facilities Auth. Rev.: | |||
(Gonzaga Univ. Proj.) Series 2019 A, 3% 4/1/49 | 4,975 | 3,520 | |
(Whitworth Univ. Proj.): | |||
Series 2016 A: | |||
5% 10/1/27 | 1,770 | 1,845 | |
5% 10/1/28 | 1,825 | 1,902 | |
5% 10/1/35 | 1,880 | 1,918 | |
5% 10/1/36 | 2,845 | 2,895 | |
5% 10/1/40 | 2,795 | 2,818 | |
Series 2019, 4% 10/1/49 | 3,515 | 2,871 | |
Washington Hsg. Fin. Commission Nonprofit Hsg. Rev. (Judson Park Proj.) Series 2018: | |||
4% 7/1/28 (d) | 100 | 92 | |
5% 7/1/33 (d) | 125 | 116 | |
5% 7/1/38 (d) | 100 | 89 | |
5% 7/1/48 (d) | 400 | 332 | |
TOTAL WASHINGTON | 131,545 | ||
West Virginia - 0.1% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 A: | |||
5% 1/1/31 | 1,355 | 1,420 | |
5% 1/1/32 | 1,120 | 1,171 | |
TOTAL WEST VIRGINIA | 2,591 | ||
Wisconsin - 1.3% | |||
Blue Ridge Healthcare Pub. Fin. Auth. Series 2020 A: | |||
5% 1/1/35 | 1,210 | 1,284 | |
5% 1/1/40 | 540 | 556 | |
Pub. Fin. Auth. Hosp. Rev.: | |||
Series 2019 A, 5% 10/1/44 | 7,550 | 7,672 | |
Series 2020 A, 3% 6/1/45 | 4,450 | 3,286 | |
Pub. Fin. Auth. Sr. Living Rev. (Mary's Woods At Marylhurst, Inc. Proj.) Series 2017 A: | |||
5% 5/15/25 (d) | 700 | 694 | |
5% 5/15/28 (d) | 1,095 | 1,056 | |
5.25% 5/15/37 (d) | 335 | 307 | |
5.25% 5/15/42 (d) | 415 | 367 | |
5.25% 5/15/47 (d) | 410 | 351 | |
5.25% 5/15/52 (d) | 775 | 651 | |
Pub. Fin. Auth. Wisconsin Retirement Facility Rev. Series 2018: | |||
5% 10/1/43 (d) | 735 | 633 | |
5% 10/1/48 (d) | 930 | 775 | |
5% 10/1/53 (d) | 2,330 | 1,902 | |
Roseman Univ. of Health: | |||
(Roseman Univ. of Health Sciences Proj.) Series 2020, 5% 4/1/40 (d) | 750 | 711 | |
Series 2020, 5% 4/1/50 (d) | 520 | 465 | |
Series 2021 A: | |||
3% 7/1/50 | 2,640 | 1,857 | |
4.5% 6/1/56 (d) | 14,095 | 10,204 | |
Series 2021 B, 6.5% 6/1/56 (d) | 4,700 | 3,724 | |
Wisconsin Health & Edl. Facilities: | |||
Series 2014, 4% 5/1/33 | 2,920 | 2,925 | |
Series 2016 A: | |||
5% 2/15/28 | 1,965 | 2,046 | |
5% 2/15/29 | 2,550 | 2,648 | |
5% 2/15/30 | 2,805 | 2,908 | |
Series 2017 A: | |||
5% 9/1/31 (Pre-Refunded to 9/1/27 @ 100) | 830 | 907 | |
5% 9/1/33 (Pre-Refunded to 9/1/27 @ 100) | 1,425 | 1,558 | |
5% 9/1/35 (Pre-Refunded to 9/1/27 @ 100) | 1,575 | 1,722 | |
Series 2019 A, 5% 11/1/46 | 540 | 445 | |
Series 2019 B1, 2.825% 11/1/28 | 1,435 | 1,269 | |
Series 2019 B2, 2.55% 11/1/27 | 890 | 835 | |
TOTAL WISCONSIN | 53,758 | ||
TOTAL MUNICIPAL BONDS (Cost $4,322,720) | 4,094,391 | ||
Money Market Funds - 2.6% | |||
Shares | Value ($) (000s) | ||
Fidelity Municipal Cash Central Fund 3.72% (h)(i) (Cost $111,117) | 111,094,103 | 111,110 | |
TOTAL INVESTMENT IN SECURITIES - 99.6% (Cost $4,433,837) | 4,205,501 |
NET OTHER ASSETS (LIABILITIES) - 0.4% | 17,124 |
NET ASSETS - 100.0% | 4,222,625 |
(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 $73,160,000 or 1.7% of net assets. |
(e) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(f) | Security initially issued in zero coupon form which converts to coupon form at a specified rate and date. The rate shown is the rate at period end. |
(g) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(h) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 3.72% | 88,008 | 1,459,368 | 1,436,258 | 1,165 | - | (8) | 111,110 | 4.5% |
Total | 88,008 | 1,459,368 | 1,436,258 | 1,165 | - | (8) | 111,110 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 4,094,391 | - | 4,094,391 | - |
Money Market Funds | 111,110 | 111,110 | - | - |
Total Investments in Securities: | 4,205,501 | 111,110 | 4,094,391 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | December 31, 2022 | |||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $4,322,720) | $4,094,391 | |||
Fidelity Central Funds (cost $111,117) | 111,110 | |||
Total Investment in Securities (cost $4,433,837) | $ | 4,205,501 | ||
Cash | 153 | |||
Receivable for investments sold | 8 | |||
Receivable for fund shares sold | 7,128 | |||
Interest receivable | 56,744 | |||
Distributions receivable from Fidelity Central Funds | 249 | |||
Prepaid expenses | 4 | |||
Other receivables | 2 | |||
Total assets | 4,269,789 | |||
Liabilities | ||||
Payable for investments purchased on a delayed delivery basis | $31,713 | |||
Payable for fund shares redeemed | 10,441 | |||
Distributions payable | 3,173 | |||
Accrued management fee | 1,239 | |||
Distribution and service plan fees payable | 92 | |||
Other affiliated payables | 435 | |||
Other payables and accrued expenses | 71 | |||
Total Liabilities | 47,164 | |||
Net Assets | $ | 4,222,625 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 4,481,380 | ||
Total accumulated earnings (loss) | (258,755) | |||
Net Assets | $ | 4,222,625 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($268,394 ÷ 22,630 shares) (a) | $ | 11.86 | ||
Maximum offering price per share (100/96.00 of $11.86) | $ | 12.35 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($80,023 ÷ 6,741 shares) (a) | $ | 11.87 | ||
Maximum offering price per share (100/96.00 of $11.87) | $ | 12.36 | ||
Class C : | ||||
Net Asset Value and offering price per share ($25,358 ÷ 2,138 shares) (a) | $ | 11.86 | ||
Fidelity Municipal Income Fund : | ||||
Net Asset Value , offering price and redemption price per share ($2,780,080 ÷ 234,248 shares) | $ | 11.87 | ||
Class I : | ||||
Net Asset Value , offering price and redemption price per share ($834,090 ÷ 70,326 shares) | $ | 11.86 | ||
Class Z : | ||||
Net Asset Value , offering price and redemption price per share ($234,680 ÷ 19,781 shares) | $ | 11.86 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Amounts in thousands | Year ended December 31, 2022 | |||
Investment Income | ||||
Interest | $ | 135,557 | ||
Income from Fidelity Central Funds | 1,164 | |||
Total Income | 136,721 | |||
Expenses | ||||
Management fee | $ | 15,384 | ||
Transfer agent fees | 4,636 | |||
Distribution and service plan fees | 1,098 | |||
Accounting fees and expenses | 635 | |||
Custodian fees and expenses | 41 | |||
Independent trustees' fees and expenses | 14 | |||
Registration fees | 179 | |||
Audit | 65 | |||
Legal | 4 | |||
Miscellaneous | 32 | |||
Total expenses before reductions | 22,088 | |||
Expense reductions | (83) | |||
Total expenses after reductions | 22,005 | |||
Net Investment income (loss) | 114,716 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (30,794) | |||
Capital gain distributions from Fidelity Central Funds | 1 | |||
Total net realized gain (loss) | (30,793) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (596,221) | |||
Fidelity Central Funds | (8) | |||
Total change in net unrealized appreciation (depreciation) | (596,229) | |||
Net gain (loss) | (627,022) | |||
Net increase (decrease) in net assets resulting from operations | $ | (512,306) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended December 31, 2022 | Year ended December 31, 2021 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 114,716 | $ | 119,881 |
Net realized gain (loss) | (30,793) | 33,989 | ||
Change in net unrealized appreciation (depreciation) | (596,229) | (13,995) | ||
Net increase (decrease) in net assets resulting from operations | (512,306) | 139,875 | ||
Distributions to shareholders | (114,383) | (152,504) | ||
Share transactions - net increase (decrease) | (275,639) | 123,902 | ||
Total increase (decrease) in net assets | (902,328) | 111,273 | ||
Net Assets | ||||
Beginning of period | 5,124,953 | 5,013,680 | ||
End of period | $ | 4,222,625 | $ | 5,124,953 |
Fidelity Advisor® Municipal Income Fund Class A |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.56 | $ | 13.59 | $ | 13.39 | $ | 12.75 | $ | 12.73 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .282 | .281 | .305 | .330 | .283 | |||||
Net realized and unrealized gain (loss) | (1.700) | .057 | .257 | .689 | .029 | |||||
Total from investment operations | (1.418) | .338 | .562 | 1.019 | .312 | |||||
Distributions from net investment income | (.282) | (.281) | (.304) | (.328) | (.284) | |||||
Distributions from net realized gain | - | (.087) | (.058) | (.051) | (.008) | |||||
Total distributions | (.282) | (.368) | (.362) | (.379) | (.292) | |||||
Net asset value, end of period | $ | 11.86 | $ | 13.56 | $ | 13.59 | $ | 13.39 | $ | 12.75 |
Total Return D,E | (10.48)% | 2.51% | 4.28% | 8.06% | 2.48% | |||||
Ratios to Average Net Assets C,F,G | ||||||||||
Expenses before reductions | .78% | .78% | .78% | .79% | .78% H | |||||
Expenses net of fee waivers, if any | .78% | .78% | .78% | .79% | .78% H | |||||
Expenses net of all reductions | .78% | .78% | .78% | .79% | .78% H | |||||
Net investment income (loss) | 2.31% | 2.06% | 2.29% | 2.49% | 2.68% H | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 268 | $ | 249 | $ | 233 | $ | 241 | $ | 201 |
Portfolio turnover rate I | 23% | 13% | 16% | 16% | 14% J,K |
Fidelity Advisor® Municipal Income Fund Class M |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.57 | $ | 13.60 | $ | 13.40 | $ | 12.76 | $ | 12.73 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .286 | .285 | .308 | .333 | .285 | |||||
Net realized and unrealized gain (loss) | (1.701) | .056 | .258 | .689 | .039 | |||||
Total from investment operations | (1.415) | .341 | .566 | 1.022 | .324 | |||||
Distributions from net investment income | (.285) | (.284) | (.308) | (.331) | (.286) | |||||
Distributions from net realized gain | - | (.087) | (.058) | (.051) | (.008) | |||||
Total distributions | (.285) | (.371) | (.366) | (.382) | (.294) | |||||
Net asset value, end of period | $ | 11.87 | $ | 13.57 | $ | 13.60 | $ | 13.40 | $ | 12.76 |
Total Return D,E | (10.45)% | 2.53% | 4.30% | 8.08% | 2.58% | |||||
Ratios to Average Net Assets C,F,G | ||||||||||
Expenses before reductions | .77% | .76% | .76% | .77% | .77% H | |||||
Expenses net of fee waivers, if any | .76% | .76% | .76% | .77% | .77% H | |||||
Expenses net of all reductions | .76% | .76% | .76% | .77% | .76% H | |||||
Net investment income (loss) | 2.33% | 2.08% | 2.31% | 2.51% | 2.70% H | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 80 | $ | 106 | $ | 109 | $ | 120 | $ | 119 |
Portfolio turnover rate I | 23% | 13% | 16% | 16% | 14% J,K |
Fidelity Advisor® Municipal Income Fund Class C |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.56 | $ | 13.59 | $ | 13.39 | $ | 12.75 | $ | 12.73 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .194 | .181 | .206 | .231 | .204 | |||||
Net realized and unrealized gain (loss) | (1.701) | .056 | .257 | .689 | .032 | |||||
Total from investment operations | (1.507) | .237 | .463 | .920 | .236 | |||||
Distributions from net investment income | (.193) | (.180) | (.205) | (.229) | (.208) | |||||
Distributions from net realized gain | - | (.087) | (.058) | (.051) | (.008) | |||||
Total distributions | (.193) | (.267) | (.263) | (.280) | (.216) | |||||
Net asset value, end of period | $ | 11.86 | $ | 13.56 | $ | 13.59 | $ | 13.39 | $ | 12.75 |
Total Return D,E | (11.13)% | 1.75% | 3.51% | 7.26% | 1.87% | |||||
Ratios to Average Net Assets C,F,G | ||||||||||
Expenses before reductions | 1.51% | 1.52% | 1.53% | 1.53% | 1.52% H | |||||
Expenses net of fee waivers, if any | 1.51% | 1.52% | 1.53% | 1.53% | 1.52% H | |||||
Expenses net of all reductions | 1.51% | 1.52% | 1.53% | 1.53% | 1.52% H | |||||
Net investment income (loss) | 1.58% | 1.32% | 1.54% | 1.75% | 1.94% H | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 25 | $ | 35 | $ | 52 | $ | 58 | $ | 82 |
Portfolio turnover rate I | 23% | 13% | 16% | 16% | 14% J,K |
Fidelity® Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.57 | $ | 13.60 | $ | 13.40 | $ | 12.75 | $ | 13.12 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .324 | .327 | .350 | .374 | .382 | |||||
Net realized and unrealized gain (loss) | (1.702) | .057 | .257 | .699 | (.286) | |||||
Total from investment operations | (1.378) | .384 | .607 | 1.073 | .096 | |||||
Distributions from net investment income | (.322) | (.327) | (.349) | (.372) | (.381) | |||||
Distributions from net realized gain | - | (.087) | (.058) | (.051) | (.085) | |||||
Total distributions | (.322) | (.414) | (.407) | (.423) | (.466) | |||||
Net asset value, end of period | $ | 11.87 | $ | 13.57 | $ | 13.60 | $ | 13.40 | $ | 12.75 |
Total Return C | (10.18)% | 2.85% | 4.63% | 8.50% | .80% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .46% | .45% | .45% | .45% | .46% | |||||
Expenses net of fee waivers, if any | .46% | .45% | .45% | .45% | .46% | |||||
Expenses net of all reductions | .46% | .45% | .45% | .45% | .45% | |||||
Net investment income (loss) | 2.64% | 2.39% | 2.62% | 2.83% | 3.00% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,780 | $ | 3,787 | $ | 3,805 | $ | 3,955 | $ | 3,817 |
Portfolio turnover rate F | 23% | 13% | 16% | 16% | 14% G,H |
Fidelity Advisor® Municipal Income Fund Class I |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.56 | $ | 13.59 | $ | 13.39 | $ | 12.75 | $ | 12.73 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .311 | .315 | .339 | .363 | .309 | |||||
Net realized and unrealized gain (loss) | (1.699) | .057 | .257 | .689 | .029 | |||||
Total from investment operations | (1.388) | .372 | .596 | 1.052 | .338 | |||||
Distributions from net investment income | (.312) | (.315) | (.338) | (.361) | (.310) | |||||
Distributions from net realized gain | - | (.087) | (.058) | (.051) | (.008) | |||||
Total distributions | (.312) | (.402) | (.396) | (.412) | (.318) | |||||
Net asset value, end of period | $ | 11.86 | $ | 13.56 | $ | 13.59 | $ | 13.39 | $ | 12.75 |
Total Return D | (10.26)% | 2.76% | 4.54% | 8.33% | 2.69% | |||||
Ratios to Average Net Assets C,E,F | ||||||||||
Expenses before reductions | .54% | .53% | .53% | .53% | .53% G | |||||
Expenses net of fee waivers, if any | .54% | .53% | .53% | .53% | .53% G | |||||
Expenses net of all reductions | .54% | .53% | .53% | .53% | .53% G | |||||
Net investment income (loss) | 2.55% | 2.31% | 2.54% | 2.75% | 2.93% G | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 834 | $ | 714 | $ | 619 | $ | 647 | $ | 555 |
Portfolio turnover rate H | 23% | 13% | 16% | 16% | 14% I,J |
Fidelity Advisor® Municipal Income Fund Class Z |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.57 | $ | 13.60 | $ | 13.39 | $ | 12.75 | $ | 12.64 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .327 | .331 | .352 | .378 | .101 | |||||
Net realized and unrealized gain (loss) | (1.710) | .057 | .269 | .689 | .112 | |||||
Total from investment operations | (1.383) | .388 | .621 | 1.067 | .213 | |||||
Distributions from net investment income | (.327) | (.331) | (.353) | (.376) | (.095) | |||||
Distributions from net realized gain | - | (.087) | (.058) | (.051) | (.008) | |||||
Total distributions | (.327) | (.418) | (.411) | (.427) | (.103) | |||||
Net asset value, end of period | $ | 11.86 | $ | 13.57 | $ | 13.60 | $ | 13.39 | $ | 12.75 |
Total Return D | (10.22)% | 2.88% | 4.74% | 8.45% | 1.69% | |||||
Ratios to Average Net Assets C,E,F | ||||||||||
Expenses before reductions | .42% | .42% | .42% | .42% | .42% G | |||||
Expenses net of fee waivers, if any | .42% | .42% | .42% | .42% | .42% G | |||||
Expenses net of all reductions | .42% | .42% | .42% | .42% | .42% G | |||||
Net investment income (loss) | 2.67% | 2.42% | 2.65% | 2.86% | 3.08% G | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 235 | $ | 235 | $ | 196 | $ | 97 | $ | 21 |
Portfolio turnover rate H | 23% | 13% | 16% | 16% | 14% I,J |
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 | $32,180 |
Gross unrealized depreciation | (259,981) |
Net unrealized appreciation (depreciation) | $(227,801) |
Tax Cost | $4,433,302 |
Capital loss carryforward | $(30,799) |
Net unrealized appreciation (depreciation) on securities and other investments | $(227,801) |
Short-term | $(15,196) |
Long-term | (15,603) |
Total capital loss carryforward | $(30,799) |
December 31, 2022 | December 31, 2021 | |
Tax-exempt Income | $114,383 | $119,772 |
Long-term Capital Gains | - | 32,732 |
Total | $114,383 | $152,504 |
Purchases ($) | Sales ($) | |
Fidelity Municipal Income Fund | 1,021,790 | 1,305,528 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $596 | $64 |
Class M | - % | .25% | 224 | 1 |
Class C | .75% | .25% | 278 | 37 |
$1,098 | $102 |
Retained by FDC | |
Class A | $16 |
Class M | 2 |
Class C (a)(b) | - |
$18 |
Amount | % of Class-Level Average Net Assets | |
Class A | $394 | .16 |
Class M | 130 | .15 |
Class C | 40 | .14 |
Fidelity Municipal Income Fund | 2,751 | .09 |
Class I | 1,199 | .17 |
Class Z | 122 | .05 |
$4,636 |
% of Average Net Assets | |
Fidelity Municipal Income Fund | .01 |
Amount | |
Fidelity Municipal Income Fund | $8 |
Year ended December 31, 2022 | Year ended December 31, 2021 | |
Fidelity Municipal Income Fund | ||
Distributions to shareholders | ||
Class A | $5,541 | $6,637 |
Class M | 2,073 | 2,945 |
Class C | 435 | 779 |
Fidelity Municipal Income Fund | 81,658 | 115,474 |
Class I | 18,130 | 19,903 |
Class Z | 6,546 | 6,766 |
Total | $114,383 | $152,504 |
Shares | Shares | Dollars | Dollars | |
Year ended December 31, 2022 | Year ended December 31, 2021 | Year ended December 31, 2022 | Year ended December 31, 2021 | |
Fidelity Municipal Income Fund | ||||
Class A | ||||
Shares sold | 9,594 | 4,233 | $115,427 | $57,833 |
Reinvestment of distributions | 411 | 436 | 4,981 | 5,947 |
Shares redeemed | (5,727) | (3,424) | (69,759) | (46,733) |
Net increase (decrease) | 4,278 | 1,245 | $50,649 | $17,047 |
Class M | ||||
Shares sold | 276 | 479 | $3,355 | $6,563 |
Reinvestment of distributions | 150 | 189 | 1,825 | 2,578 |
Shares redeemed | (1,491) | (910) | (18,102) | (12,470) |
Net increase (decrease) | (1,065) | (242) | $(12,922) | $(3,329) |
Class C | ||||
Shares sold | 511 | 519 | $6,199 | $7,097 |
Reinvestment of distributions | 34 | 54 | 410 | 733 |
Shares redeemed | (967) | (1,820) | (11,857) | (24,876) |
Net increase (decrease) | (422) | (1,247) | $(5,248) | $(17,046) |
Fidelity Municipal Income Fund | ||||
Shares sold | 40,481 | 21,512 | $491,259 | $294,467 |
Reinvestment of distributions | 4,697 | 5,466 | 57,042 | 74,556 |
Shares redeemed | (89,945) | (27,724) | (1,101,537) | (378,751) |
Net increase (decrease) | (44,767) | (746) | $(553,236) | $(9,728) |
Class I | ||||
Shares sold | 56,827 | 16,412 | $682,902 | $224,231 |
Reinvestment of distributions | 657 | 749 | 7,979 | 10,204 |
Shares redeemed | (39,781) | (10,070) | (480,093) | (137,392) |
Net increase (decrease) | 17,703 | 7,091 | $210,788 | $97,043 |
Class Z | ||||
Shares sold | 26,980 | 5,925 | $329,960 | $80,935 |
Reinvestment of distributions | 414 | 365 | 5,017 | 4,980 |
Shares redeemed | (24,933) | (3,366) | (300,647) | (46,000) |
Net increase (decrease) | 2,461 | 2,924 | $34,330 | $39,915 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Municipal Income Fund | ||||||||||
Class A | .78% | |||||||||
Actual | $ 1,000 | $ 1,000.60 | $ 3.93 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.27 | $ 3.97 | |||||||
Class M | .76% | |||||||||
Actual | $ 1,000 | $ 1,000.80 | $ 3.83 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.37 | $ 3.87 | |||||||
Class C | 1.50% | |||||||||
Actual | $ 1,000 | $ 997.00 | $ 7.55 | |||||||
Hypothetical- B | $ 1,000 | $ 1,017.64 | $ 7.63 | |||||||
Fidelity® Municipal Income Fund | .46% | |||||||||
Actual | $ 1,000 | $ 1,002.30 | $ 2.32 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.89 | $ 2.35 | |||||||
Class I | .54% | |||||||||
Actual | $ 1,000 | $ 1,001.90 | $ 2.72 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.48 | $ 2.75 | |||||||
Class Z | .41% | |||||||||
Actual | $ 1,000 | $ 1,001.60 | $ 2.07 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.14 | $ 2.09 | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Michigan Municipal Income Fund | -9.18% | 0.94% | 1.97% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Michigan Municipal Income Fund on December 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Revenue Sources (% of Fund's net assets) | ||
General Obligations | 22.6% | |
Health Care | 21.8% | |
Education | 13.7% | |
Transportation | 11.4% | |
Water & Sewer | 9.3% | |
Housing | 6.6% | |
Special Tax | 6.1% | |
Others* (Individually Less Than 5%) | 8.5% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 96.2% | |||
Principal Amount (a) | Value ($) | ||
Guam - 0.4% | |||
Guam Int'l. Arpt. Auth. Rev. Series 2013 C: | |||
6.25% 10/1/34 (b) | 600,000 | 612,670 | |
6.25% 10/1/34 (Pre-Refunded to 10/1/23 @ 100) (b) | 400,000 | 408,447 | |
Guam Pwr. Auth. Rev. Series 2022 A, 5% 10/1/44 | 1,000,000 | 1,024,941 | |
TOTAL GUAM | 2,046,058 | ||
Michigan - 94.6% | |||
Bay City School District Rev. Series 2014: | |||
5% 11/1/27 | 700,000 | 717,439 | |
5% 11/1/28 | 250,000 | 256,196 | |
Bloomfield Hills Schools District Series 2020, 4% 5/1/50 | 1,500,000 | 1,411,691 | |
Chippewa Valley Schools Series 2016 A: | |||
5% 5/1/32 | 1,000,000 | 1,047,871 | |
5% 5/1/33 | 1,000,000 | 1,046,493 | |
5% 5/1/34 | 1,075,000 | 1,122,024 | |
Coopersville Area Pub. Schools Series 2022 I, 4.125% 5/1/52 | 750,000 | 716,467 | |
Detroit Downtown Dev. Auth. Tax Series A: | |||
5% 7/1/29 (Assured Guaranty Muni. Corp. Insured) | 1,340,000 | 1,374,151 | |
5% 7/1/31 (Assured Guaranty Muni. Corp. Insured) | 1,775,000 | 1,816,849 | |
5% 7/1/33 (Assured Guaranty Muni. Corp. Insured) | 2,000,000 | 2,042,178 | |
5% 7/1/34 (Assured Guaranty Muni. Corp. Insured) | 1,750,000 | 1,784,096 | |
5% 7/1/37 (Assured Guaranty Muni. Corp. Insured) | 2,000,000 | 2,027,057 | |
Detroit Gen. Oblig.: | |||
Series 2018, 5% 4/1/23 | 310,000 | 310,677 | |
Series 2020: | |||
5.5% 4/1/35 | 690,000 | 724,557 | |
5.5% 4/1/36 | 435,000 | 454,032 | |
5.5% 4/1/37 | 465,000 | 482,046 | |
5.5% 4/1/38 | 490,000 | 506,223 | |
Series 2021 A: | |||
5% 4/1/37 | 1,875,000 | 1,867,040 | |
5% 4/1/39 | 1,210,000 | 1,184,092 | |
Detroit Swr. Disp. Rev.: | |||
Series 2001 B, 5.5% 7/1/29 (Assured Guaranty Corp. Insured) (FGIC Insured) | 25,000 | 27,492 | |
Series 2006, 5% 7/1/36 | 10,000 | 10,015 | |
Downriver Util. Wastewtr. Auth. Swr. Sys. Rev. Series 2018: | |||
5% 4/1/33 (Assured Guaranty Muni. Corp. Insured) | 735,000 | 799,803 | |
5% 4/1/34 (Assured Guaranty Muni. Corp. Insured) | 520,000 | 563,508 | |
5% 4/1/35 (Assured Guaranty Muni. Corp. Insured) | 500,000 | 538,450 | |
Farmington Pub. School District Gen. Oblig. Series 2020, 4% 5/1/40 | 3,000,000 | 2,943,243 | |
Fitzgerald Pub. School District Series 2019, 5% 5/1/37 | 1,260,000 | 1,388,019 | |
Flint Hosp. Bldg. Auth. Rev. Series 2020: | |||
4% 7/1/38 | 1,800,000 | 1,591,561 | |
4% 7/1/41 | 1,395,000 | 1,158,433 | |
Fraser Pub. School District Series 2006 B, 5% 5/1/29 | 1,455,000 | 1,524,211 | |
Gerald R. Ford Int'l. Arpt. Auth. Rev. Series 2021: | |||
5% 1/1/26 (b) | 225,000 | 238,710 | |
5% 1/1/27 (b) | 325,000 | 350,474 | |
5% 1/1/28 (b) | 235,000 | 257,065 | |
5% 1/1/29 (b) | 525,000 | 578,080 | |
5% 1/1/30 (b) | 425,000 | 472,758 | |
5% 1/1/31 (b) | 725,000 | 813,696 | |
5% 1/1/32 (b) | 725,000 | 820,894 | |
5% 1/1/33 (b) | 1,000,000 | 1,124,939 | |
5% 1/1/34 (b) | 1,000,000 | 1,120,535 | |
5% 1/1/35 (b) | 850,000 | 942,935 | |
5% 1/1/36 (b) | 600,000 | 659,284 | |
5% 1/1/37 (b) | 700,000 | 761,727 | |
5% 1/1/38 (b) | 1,170,000 | 1,267,833 | |
5% 1/1/39 (b) | 1,000,000 | 1,078,340 | |
5% 1/1/40 (b) | 1,000,000 | 1,072,898 | |
5% 1/1/41 (b) | 1,100,000 | 1,174,536 | |
5% 1/1/46 (b) | 2,000,000 | 2,109,625 | |
5% 1/1/51 (b) | 3,000,000 | 3,144,399 | |
Grand Rapids Pub. Schools: | |||
Series 2017, 5% 5/1/29 (Assured Guaranty Muni. Corp. Insured) | 480,000 | 524,588 | |
Series 2019: | |||
5% 11/1/39 (Assured Guaranty Muni. Corp. Insured) | 1,200,000 | 1,285,376 | |
5% 11/1/41 (Assured Guaranty Muni. Corp. Insured) | 1,300,000 | 1,388,292 | |
Grand Rapids San. Swr. Sys. Rev. Series 2018: | |||
5% 1/1/31 | 475,000 | 524,311 | |
5% 1/1/33 | 250,000 | 273,538 | |
5% 1/1/34 | 550,000 | 597,699 | |
5% 1/1/35 | 400,000 | 430,528 | |
5% 1/1/38 | 655,000 | 694,433 | |
Grand Rapids Wtr. Supply Sys. Series 2016: | |||
5% 1/1/31 | 250,000 | 264,939 | |
5% 1/1/32 | 320,000 | 339,027 | |
5% 1/1/33 | 550,000 | 582,379 | |
5% 1/1/34 | 500,000 | 529,583 | |
5% 1/1/35 | 920,000 | 965,003 | |
Grand Traverse County Hosp. Fin. Auth.: | |||
Series 2019 A: | |||
5% 7/1/44 | 1,110,000 | 1,138,507 | |
5% 7/1/49 | 2,615,000 | 2,659,318 | |
Series 2021, 3% 7/1/51 | 1,500,000 | 1,054,998 | |
Grand Valley Michigan State Univ. Rev.: | |||
Series 2014 B: | |||
5% 12/1/25 | 500,000 | 519,376 | |
5% 12/1/26 | 1,900,000 | 1,970,757 | |
5% 12/1/28 | 1,800,000 | 1,863,980 | |
Series 2018: | |||
5% 12/1/34 | 1,075,000 | 1,170,652 | |
5% 12/1/35 | 1,225,000 | 1,326,410 | |
5% 12/1/37 | 1,375,000 | 1,478,001 | |
5% 12/1/38 | 875,000 | 937,770 | |
5% 12/1/43 | 1,400,000 | 1,486,744 | |
Grandville Pub. Schools District Series 2020: | |||
4% 5/1/39 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 988,321 | |
4% 5/1/40 (Assured Guaranty Muni. Corp. Insured) | 1,300,000 | 1,273,831 | |
Great Lakes Wtr. Auth. Sew Disp. Sys.: | |||
Series 2016 B, 5% 7/1/27 | 15,000 | 15,988 | |
Series 2016 C, 5% 7/1/31 | 7,000,000 | 7,470,607 | |
Series 2018 A, 5% 7/1/43 | 10,000,000 | 10,509,783 | |
Series 2018 B: | |||
5% 7/1/28 | 1,125,000 | 1,242,081 | |
5% 7/1/29 | 15,000 | 16,720 | |
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev.: | |||
Series 2016 C, 5.25% 7/1/35 | 2,000,000 | 2,121,991 | |
Series 2020 B: | |||
5% 7/1/45 | 1,850,000 | 1,958,993 | |
5% 7/1/49 | 1,300,000 | 1,351,278 | |
Grosse Pointe Pub. School Sys. Series 2019: | |||
5% 5/1/38 | 1,000,000 | 1,092,166 | |
5% 5/1/39 | 1,000,000 | 1,089,369 | |
Hudsonville Pub. Schools Series 2017: | |||
5% 5/1/31 | 430,000 | 470,053 | |
5% 5/1/32 | 1,200,000 | 1,309,776 | |
5% 5/1/34 | 1,000,000 | 1,088,576 | |
5% 5/1/35 | 1,000,000 | 1,083,700 | |
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016: | |||
4% 5/15/36 | 1,985,000 | 1,927,600 | |
4% 5/15/36 (Pre-Refunded to 5/15/26 @ 100) | 15,000 | 15,577 | |
5% 5/15/28 | 775,000 | 814,226 | |
5% 5/15/28 (Pre-Refunded to 5/15/26 @ 100) | 5,000 | 5,352 | |
5% 5/15/30 | 4,970,000 | 5,193,846 | |
5% 5/15/30 (Pre-Refunded to 5/15/26 @ 100) | 30,000 | 32,112 | |
Kentwood Econ. Dev. Corp.: | |||
Series 2021, 4% 11/15/45 | 500,000 | 393,180 | |
Series 2022: | |||
4% 11/15/31 | 1,000,000 | 923,636 | |
4% 11/15/43 | 2,250,000 | 1,805,358 | |
Lansing Board of Wtr. & Lt. Util. Rev. Bonds Series 2021 B, 2%, tender 7/1/26 (c) | 2,000,000 | 1,894,776 | |
Lansing Cmnty. College Series 2019, 5% 5/1/44 | 3,000,000 | 3,244,821 | |
Lincoln Consolidated School District Series 2016 A: | |||
5% 5/1/29 | 1,430,000 | 1,522,974 | |
5% 5/1/31 | 500,000 | 531,692 | |
5% 5/1/32 | 1,000,000 | 1,063,058 | |
Macomb Interceptor Drain Drainage District Series 2017 A: | |||
5% 5/1/33 | 2,100,000 | 2,272,189 | |
5% 5/1/34 | 1,750,000 | 1,889,448 | |
Marquette Board Lt. & Pwr. Elec. Util. Sys. Rev. Series 2016 A: | |||
5% 7/1/29 | 780,000 | 830,998 | |
5% 7/1/30 | 900,000 | 957,922 | |
5% 7/1/31 | 780,000 | 828,338 | |
5% 7/1/32 | 1,000,000 | 1,059,931 | |
5% 7/1/33 | 705,000 | 745,816 | |
Michigan Bldg. Auth. Rev.: | |||
(Facilities Prog.) Series I, 3% 10/15/45 | 6,000,000 | 4,763,533 | |
Series 2021 I, 3% 10/15/51 | 1,770,000 | 1,328,680 | |
Series 2022 I: | |||
4% 10/15/52 | 1,250,000 | 1,162,483 | |
5.25% 10/15/57 | 2,000,000 | 2,162,844 | |
Michigan Fin. Auth. Rev.: | |||
(Charter County of Wayne Criminal Justice Ctr. Proj.) Series 2018: | |||
5% 11/1/30 | 1,000,000 | 1,113,559 | |
5% 11/1/31 | 750,000 | 832,883 | |
5% 11/1/32 | 1,000,000 | 1,108,331 | |
5% 11/1/33 | 3,250,000 | 3,592,760 | |
5% 11/1/35 | 1,000,000 | 1,095,485 | |
5% 11/1/36 | 1,250,000 | 1,363,774 | |
5% 11/1/37 | 1,500,000 | 1,630,635 | |
5% 11/1/38 | 1,595,000 | 1,727,089 | |
(Detroit Wtr. And Sewerage Dept. Sewage Disp. Sys. Rev. And Rev. Rfdg. Local Proj. Bonds) Series 2014 C3, 5% 7/1/30 (Assured Guaranty Muni. Corp. Insured) | 6,000,000 | 6,173,242 | |
(Detroit Wtr. And Sewerage Dept. Wtr. Supply Sys. Rev. Rfdg. Local Proj. Bonds) Series 2015, 5% 7/1/30 | 10,000 | 10,392 | |
(Holland Cmnty. Hosp. Proj.) Series 2013 A: | |||
5% 1/1/33 (Pre-Refunded to 1/1/23 @ 100) | 1,250,000 | 1,250,000 | |
5% 1/1/40 (Pre-Refunded to 2/20/23 @ 100) | 3,000,000 | 3,000,000 | |
(Kalamazoo College Proj.) Series 2018: | |||
4% 12/1/36 | 790,000 | 769,678 | |
4% 12/1/47 | 2,610,000 | 2,345,643 | |
(Lawrence Technological Univ. Proj.) Series 2017, 5% 2/1/47 | 3,195,000 | 2,925,702 | |
(Trinity Health Proj.) Series 2017: | |||
5% 12/1/30 | 710,000 | 778,458 | |
5% 12/1/37 | 3,270,000 | 3,486,102 | |
Bonds: | |||
Series 2015 D2, 1.2%, tender 4/13/28 (c) | 3,000,000 | 2,664,393 | |
Series 2016 E1, 4%, tender 8/15/24 (c) | 1,335,000 | 1,342,730 | |
Series 2014 H1, 5% 10/1/39 | 4,725,000 | 4,809,476 | |
Series 2015 C: | |||
5% 7/1/26 | 570,000 | 592,074 | |
5% 7/1/27 | 1,465,000 | 1,521,023 | |
5% 7/1/28 | 1,500,000 | 1,556,634 | |
5% 7/1/35 | 2,100,000 | 2,159,542 | |
Series 2015 D1: | |||
5% 7/1/34 | 1,250,000 | 1,286,941 | |
5% 7/1/35 | 505,000 | 519,318 | |
Series 2015 D2, 5% 7/1/34 | 1,000,000 | 1,029,793 | |
Series 2016: | |||
5% 11/15/28 | 2,655,000 | 2,816,835 | |
5% 1/1/29 | 1,000,000 | 1,046,135 | |
5% 11/15/29 | 2,950,000 | 3,118,026 | |
5% 1/1/30 | 1,000,000 | 1,045,904 | |
5% 1/1/31 | 1,170,000 | 1,223,518 | |
5% 1/1/32 | 1,895,000 | 1,979,520 | |
5% 1/1/33 | 1,915,000 | 1,998,282 | |
5% 1/1/34 | 2,135,000 | 2,224,549 | |
5% 11/15/34 | 1,135,000 | 1,180,022 | |
5% 11/15/41 | 4,710,000 | 4,808,886 | |
Series 2019 A: | |||
3% 12/1/49 | 2,000,000 | 1,445,344 | |
4% 2/15/44 | 2,500,000 | 2,327,595 | |
4% 12/1/49 | 8,180,000 | 7,372,034 | |
4% 2/15/50 | 4,000,000 | 3,606,658 | |
5% 11/15/48 | 9,865,000 | 10,005,413 | |
Series 2019 MI1, 5% 12/1/48 | 2,000,000 | 2,022,093 | |
Series 2020 A: | |||
4% 6/1/35 | 2,000,000 | 1,893,022 | |
4% 6/1/37 | 2,000,000 | 1,848,968 | |
4% 6/1/40 | 2,000,000 | 1,800,909 | |
4% 6/1/49 | 4,250,000 | 3,521,882 | |
Series 2020: | |||
4% 11/1/55 | 2,500,000 | 2,251,647 | |
5% 6/1/40 | 3,000,000 | 3,035,028 | |
Series 2021, 5% 9/1/38 | 1,270,000 | 1,350,721 | |
Series 2022: | |||
4% 2/1/27 | 185,000 | 179,998 | |
4% 2/1/32 | 285,000 | 268,137 | |
4% 2/1/42 | 745,000 | 615,445 | |
4% 4/15/42 | 2,000,000 | 1,861,901 | |
4% 12/1/46 | 1,725,000 | 1,445,645 | |
4% 12/1/51 | 1,100,000 | 892,755 | |
Michigan Gen. Oblig. Series 2020 A, 4% 5/15/40 | 500,000 | 503,613 | |
Michigan Hosp. Fin. Auth. Rev.: | |||
Series 2010 F, 4% 11/15/47 | 290,000 | 264,553 | |
Series 2010 F4, 5% 11/15/47 | 5,050,000 | 5,157,556 | |
Series 2016, 5% 11/15/47 | 13,000,000 | 13,156,593 | |
Michigan Hsg. Dev. Auth. Rental Hsg. Rev. Series 2020 A1, 0.65% 10/1/24 | 300,000 | 287,805 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev.: | |||
Series 2019 B, 3.75% 6/1/50 | 2,710,000 | 2,698,415 | |
Series 2020 C, 3% 6/1/51 | 3,115,000 | 3,027,236 | |
Series 2021 A, 3% 6/1/52 | 3,315,000 | 3,208,451 | |
Series 2022 A, 5% 6/1/53 | 2,455,000 | 2,558,640 | |
Series 2022 D, 5.5% 6/1/53 | 2,500,000 | 2,668,571 | |
Series A: | |||
3.5% 12/1/50 | 2,420,000 | 2,390,568 | |
4% 12/1/48 | 1,040,000 | 1,040,971 | |
Series C, 4.25% 6/1/49 | 2,325,000 | 2,342,048 | |
Michigan State Hsg. Dev. Auth. Series 2021 A, 0.55% 4/1/25 | 2,750,000 | 2,584,756 | |
Michigan State Univ. Revs. Series 2019 C, 4% 2/15/44 | 1,500,000 | 1,434,346 | |
Michigan Strategic Fund Ltd. Oblig. Rev.: | |||
(I-75 Impt. Proj.): | |||
Series 2017, 5% 6/30/25 (b) | 1,100,000 | 1,121,459 | |
Series 2018: | |||
4.25% 12/31/38 (Assured Guaranty Muni. Corp. Insured) (b) | 840,000 | 791,601 | |
5% 12/31/25 (b) | 1,260,000 | 1,290,542 | |
5% 12/31/26 (b) | 425,000 | 437,909 | |
5% 6/30/29 (b) | 35,000 | 36,282 | |
(The Detroit Edison Co. Exempt Facilities Proj.) Series 2008 ET2, 1.35% 8/1/29 | 2,000,000 | 1,706,528 | |
(The Detroit Edison Co. Poll. Cont. Bonds Proj.) Series 1995 CC, 1.45% 9/1/30 | 2,000,000 | 1,670,693 | |
Bonds: | |||
(Consumer Energy Co. Proj.) Series 2019, 1.8%, tender 10/1/24 (b)(c) | 6,000,000 | 5,798,071 | |
(Graphic Packaging Int'l., LLC Coated Recycled Board Machine Proj.) Series 2021, 4%, tender 10/1/26 (b)(c) | 5,000,000 | 4,824,367 | |
Series 2020: | |||
4% 5/15/27 | 715,000 | 692,139 | |
5% 5/15/44 | 1,500,000 | 1,379,812 | |
Michigan Technological Univ. Series 2021, 4% 10/1/46 | 2,835,000 | 2,634,830 | |
Michigan Trunk Line Fund Rev. Series 2020 B, 4% 11/15/45 | 1,500,000 | 1,418,108 | |
Northern Michigan Univ. Revs. Series 2021: | |||
4% 6/1/39 | 900,000 | 880,858 | |
4% 6/1/40 | 500,000 | 483,490 | |
4% 6/1/41 | 1,385,000 | 1,326,207 | |
4% 6/1/46 | 1,850,000 | 1,705,852 | |
5% 6/1/32 | 375,000 | 428,722 | |
5% 6/1/33 | 365,000 | 414,835 | |
5% 6/1/34 | 375,000 | 425,309 | |
5% 6/1/35 | 375,000 | 421,645 | |
5% 6/1/36 | 400,000 | 447,095 | |
5% 6/1/37 | 675,000 | 748,628 | |
Novi Cmnty. School District Series I: | |||
5% 5/1/43 | 1,150,000 | 1,238,372 | |
5% 5/1/44 | 1,175,000 | 1,262,229 | |
Oakland Univ. Rev.: | |||
Series 2013 A: | |||
5% 3/1/25 | 995,000 | 997,082 | |
5% 3/1/27 | 815,000 | 816,706 | |
Series 2014: | |||
5% 3/1/28 | 335,000 | 341,631 | |
5% 3/1/29 | 525,000 | 535,271 | |
Series 2016: | |||
5% 3/1/28 | 1,150,000 | 1,216,236 | |
5% 3/1/41 | 3,475,000 | 3,595,618 | |
Series 2022 B: | |||
5% 3/1/36 | 1,135,000 | 1,249,546 | |
5% 3/1/37 | 1,265,000 | 1,376,180 | |
Portage Pub. Schools: | |||
Series 2016: | |||
5% 11/1/32 | 2,500,000 | 2,649,507 | |
5% 11/1/34 | 1,250,000 | 1,317,467 | |
Series 2019, 4% 11/1/38 | 2,000,000 | 1,968,047 | |
Series 2021, 4% 11/1/42 | 1,000,000 | 956,786 | |
Ravenna Pub. Schools Gen. Oblig. Series 2021, 4% 5/1/51 | 2,140,000 | 1,954,267 | |
Rochester Cmnty. School District Series I, 5% 5/1/31 | 1,500,000 | 1,597,035 | |
Rockford Pub. Schools Gen. Oblig. Series 2019 I, 5% 5/1/42 | 3,050,000 | 3,262,599 | |
Saginaw City School District Series 2021, 4% 5/1/47 | 3,000,000 | 2,730,559 | |
Saginaw Hosp. Fin. Auth. Hosp. Rev. Series 2020 J: | |||
4% 7/1/36 | 770,000 | 766,384 | |
4% 7/1/37 | 820,000 | 807,460 | |
4% 7/1/39 | 1,430,000 | 1,390,223 | |
4% 7/1/40 | 490,000 | 472,896 | |
Walled Lake Consolidated School District: | |||
Series 2020, 5% 5/1/36 | 1,050,000 | 1,167,205 | |
Series 2022, 5% 5/1/47 | 1,500,000 | 1,612,794 | |
Warren Consolidated School District: | |||
Series 2016: | |||
5% 5/1/34 | 5,630,000 | 5,933,871 | |
5% 5/1/35 | 1,250,000 | 1,313,038 | |
Series 2017: | |||
4% 5/1/24 (Assured Guaranty Muni. Corp. Insured) | 750,000 | 759,123 | |
4% 5/1/25 (Assured Guaranty Muni. Corp. Insured) | 500,000 | 511,712 | |
Series 2018: | |||
5% 5/1/32 | 1,100,000 | 1,214,231 | |
5% 5/1/34 | 1,175,000 | 1,291,041 | |
5% 5/1/35 | 1,200,000 | 1,312,022 | |
5% 5/1/36 | 1,000,000 | 1,087,797 | |
5% 5/1/37 | 1,300,000 | 1,406,966 | |
5% 5/1/38 | 800,000 | 863,487 | |
Wayne County Arpt. Auth. Rev.: | |||
Series 2012 B, 5% 12/1/32 (b) | 1,500,000 | 1,501,039 | |
Series 2014 C: | |||
5% 12/1/29 (b) | 720,000 | 736,759 | |
5% 12/1/31 (b) | 860,000 | 879,344 | |
5% 12/1/34 (b) | 1,655,000 | 1,682,984 | |
Series 2015 D, 5% 12/1/40 (Assured Guaranty Muni. Corp. Insured) | 8,165,000 | 8,394,553 | |
Series 2015 G: | |||
5% 12/1/35 | 5,435,000 | 5,669,246 | |
5% 12/1/36 | 5,760,000 | 5,979,544 | |
Series 2017 A: | |||
5% 12/1/37 | 545,000 | 573,483 | |
5% 12/1/42 | 1,455,000 | 1,502,125 | |
Series 2017 B, 5% 12/1/47 (b) | 450,000 | 455,952 | |
Series 2018 B, 5% 12/1/48 (b) | 5,000,000 | 5,065,503 | |
Series 2018 D: | |||
5% 12/1/30 (b) | 4,365,000 | 4,656,647 | |
5% 12/1/31 (b) | 2,825,000 | 3,008,106 | |
5% 12/1/32 (b) | 2,945,000 | 3,129,715 | |
Series 2021 A: | |||
5% 12/1/36 | 1,000,000 | 1,105,332 | |
5% 12/1/37 | 1,500,000 | 1,644,243 | |
5% 12/1/38 | 1,250,000 | 1,359,559 | |
5% 12/1/39 | 1,500,000 | 1,623,577 | |
Series 2021 B: | |||
5% 12/1/35 (b) | 1,225,000 | 1,309,452 | |
5% 12/1/37 (b) | 1,520,000 | 1,608,219 | |
5% 12/1/46 (b) | 1,280,000 | 1,310,463 | |
Wayne State Univ. Revs. Series 2019 A: | |||
4% 11/15/38 | 1,000,000 | 987,962 | |
4% 11/15/39 | 800,000 | 780,676 | |
Western Michigan Univ. Rev.: | |||
Series 2014: | |||
5% 11/15/25 | 320,000 | 331,839 | |
5% 11/15/26 | 400,000 | 414,504 | |
5% 11/15/28 | 650,000 | 671,655 | |
5% 11/15/29 | 750,000 | 774,436 | |
5% 11/15/30 | 855,000 | 881,917 | |
5% 11/15/31 | 700,000 | 720,756 | |
Series 2015 A: | |||
5% 11/15/26 | 1,000,000 | 1,047,009 | |
5% 11/15/28 | 2,505,000 | 2,610,510 | |
Series 2019 A, 5% 11/15/44 | 2,000,000 | 2,139,057 | |
Series 2021 A: | |||
5% 11/15/27 (Assured Guaranty Muni. Corp. Insured) | 300,000 | 327,214 | |
5% 11/15/30 (Assured Guaranty Muni. Corp. Insured) | 200,000 | 227,398 | |
5% 11/15/31 (Assured Guaranty Muni. Corp. Insured) | 150,000 | 170,686 | |
5% 11/15/32 (Assured Guaranty Muni. Corp. Insured) | 300,000 | 339,285 | |
5% 11/15/34 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 449,855 | |
5% 11/15/36 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 440,621 | |
5% 11/15/38 (Assured Guaranty Muni. Corp. Insured) | 625,000 | 682,538 | |
5% 11/15/40 (Assured Guaranty Muni. Corp. Insured) | 635,000 | 686,975 | |
5% 11/15/51 (Assured Guaranty Muni. Corp. Insured) | 5,000,000 | 5,291,170 | |
5% 11/15/53 (Assured Guaranty Muni. Corp. Insured) | 4,100,000 | 4,333,785 | |
Ypsilanti School District Series A: | |||
5% 5/1/29 | 1,305,000 | 1,394,977 | |
5% 5/1/32 | 2,000,000 | 2,135,272 | |
TOTAL MICHIGAN | 470,177,437 | ||
Puerto Rico - 1.2% | |||
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 1,643,730 | 888,536 | |
5.625% 7/1/27 | 195,000 | 198,679 | |
5.625% 7/1/29 | 595,000 | 608,812 | |
5.75% 7/1/31 | 1,410,000 | 1,457,895 | |
Puerto Rico Hsg. Fin. Auth. Series 2020, 5% 12/1/27 | 1,340,000 | 1,441,651 | |
Puerto Rico Indl., Tourist, Edl., Med. And Envir. Cont. Facilities Fing. Auth. Series 2021: | |||
4% 7/1/36 | 195,000 | 178,506 | |
5% 7/1/30 | 485,000 | 531,018 | |
5% 7/1/32 | 360,000 | 393,343 | |
TOTAL PUERTO RICO | 5,698,440 | ||
TOTAL MUNICIPAL BONDS (Cost $513,532,955) | 477,921,935 | ||
Municipal Notes - 3.1% | |||
Principal Amount (a) | Value ($) | ||
Michigan - 3.1% | |||
Michigan Fin. Auth. Rev.: | |||
(Hosp. Proj.) Series 2016 E2, 3.76% 1/6/23, VRDN (c) | 2,470,000 | 2,470,000 | |
Series 2016 E3, 3.7% 1/6/23, VRDN (c) | 4,000,000 | 4,000,000 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Series 2014 A, 3.63% 1/6/23 (Liquidity Facility Royal Bank of Canada), VRDN (b)(c) | 9,200,000 | 9,200,000 | |
TOTAL MUNICIPAL NOTES (Cost $15,670,000) | 15,670,000 | ||
TOTAL INVESTMENT IN SECURITIES - 99.3% (Cost $529,202,955) | 493,591,935 |
NET OTHER ASSETS (LIABILITIES) - 0.7% | 3,233,950 |
NET ASSETS - 100.0% | 496,825,885 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 493,591,935 | - | 493,591,935 | - |
Total Investments in Securities: | 493,591,935 | - | 493,591,935 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $529,202,955): | $ | 493,591,935 | ||
Receivable for investments sold | 1,653,416 | |||
Receivable for fund shares sold | 1,394,561 | |||
Interest receivable | 5,114,306 | |||
Prepaid expenses | 586 | |||
Other receivables | 1,621 | |||
Total assets | 501,756,425 | |||
Liabilities | ||||
Payable to custodian bank | $3,793,684 | |||
Payable for fund shares redeemed | 582,866 | |||
Distributions payable | 300,783 | |||
Accrued management fee | 150,067 | |||
Other affiliated payables | 54,733 | |||
Other payables and accrued expenses | 48,407 | |||
Total Liabilities | 4,930,540 | |||
Net Assets | $ | 496,825,885 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 536,318,647 | ||
Total accumulated earnings (loss) | (39,492,762) | |||
Net Assets | $ | 496,825,885 | ||
Net Asset Value , offering price and redemption price per share ($496,825,885 ÷ 44,318,867 shares) | $ | 11.21 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 16,292,756 | ||
Expenses | ||||
Management fee | $ | 2,070,689 | ||
Transfer agent fees | 616,395 | |||
Accounting fees and expenses | 144,365 | |||
Custodian fees and expenses | 7,412 | |||
Independent trustees' fees and expenses | 1,964 | |||
Registration fees | 24,197 | |||
Audit | 52,492 | |||
Legal | 8,430 | |||
Miscellaneous | 2,912 | |||
Total expenses before reductions | 2,928,856 | |||
Expense reductions | (18,486) | |||
Total expenses after reductions | 2,910,370 | |||
Net Investment income (loss) | 13,382,386 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,890,904) | |||
Total net realized gain (loss) | (3,890,904) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (74,601,773) | |||
Net gain (loss) | (78,492,677) | |||
Net increase (decrease) in net assets resulting from operations | $ | (65,110,291) |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 13,382,386 | $ | 15,137,759 |
Net realized gain (loss) | (3,890,904) | 4,360,076 | ||
Change in net unrealized appreciation (depreciation) | (74,601,773) | (8,677,684) | ||
Net increase (decrease) in net assets resulting from operations | (65,110,291) | 10,820,151 | ||
Distributions to shareholders | (14,112,830) | (18,599,520) | ||
Share transactions | ||||
Proceeds from sales of shares | 91,927,922 | 98,407,493 | ||
Reinvestment of distributions | 9,900,392 | 12,950,242 | ||
Cost of shares redeemed | (257,381,337) | (88,383,573) | ||
Net increase (decrease) in net assets resulting from share transactions | (155,553,023) | 22,974,162 | ||
Total increase (decrease) in net assets | (234,776,144) | 15,194,793 | ||
Net Assets | ||||
Beginning of period | 731,602,029 | 716,407,236 | ||
End of period | $ | 496,825,885 | $ | 731,602,029 |
Other Information | ||||
Shares | ||||
Sold | 7,997,442 | 7,722,513 | ||
Issued in reinvestment of distributions | 859,107 | 1,018,827 | ||
Redeemed | (22,425,043) | (6,946,787) | ||
Net increase (decrease) | (13,568,494) | 1,794,553 | ||
Fidelity® Michigan Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 12.64 | $ | 12.77 | $ | 12.47 | $ | 11.97 | $ | 12.22 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .261 | .265 | .283 | .309 | .319 | |||||
Net realized and unrealized gain (loss) | (1.418) | (.070) | .347 | .541 | (.216) | |||||
Total from investment operations | (1.157) | .195 | .630 | .850 | .103 | |||||
Distributions from net investment income | (.260) | (.265) | (.284) | (.310) | (.318) | |||||
Distributions from net realized gain | (.013) | (.060) | (.046) | (.040) | (.035) | |||||
Total distributions | (.273) | (.325) | (.330) | (.350) | (.353) | |||||
Net asset value, end of period | $ | 11.21 | $ | 12.64 | $ | 12.77 | $ | 12.47 | $ | 11.97 |
Total Return C | (9.18)% | 1.54% | 5.11% | 7.16% | .90% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .49% | .48% | .48% | .48% | .49% | |||||
Expenses net of fee waivers, if any | .49% | .48% | .48% | .48% | .48% | |||||
Expenses net of all reductions | .49% | .48% | .48% | .48% | .48% | |||||
Net investment income (loss) | 2.25% | 2.08% | 2.25% | 2.50% | 2.67% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 496,826 | $ | 731,602 | $ | 716,407 | $ | 673,051 | $ | 597,684 |
Portfolio turnover rate F | 8% | 13% | 13% | 14% | 22% |
Current 7-Day Yields | ||
Fidelity® Michigan Municipal Money Market Fund | 3.18% | |
Yield refers to the income paid by the Fund over a given period. Yield for money market funds is usually for seven-day periods, as it is here, though it is expressed as an annual percentage rate. Past performance is no guarantee of future results. Yield will vary and it's possible to lose money investing in the Fund. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending December 31, 2022, the most recent period shown in the table, would have been 3.16% for Fidelity® Michigan Municipal Money Market Fund. |
Effective Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 98.8 | |
31 - 60 | 1.2 | |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940. |
Asset Allocation (% of Fund's net assets) |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Variable Rate Demand Note - 42.9% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.8% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 4.15% 1/6/23, VRDN (b)(c) | 1,100,000 | 1,100,000 | |
West Jefferson Indl. Dev. Series 2008, 3.78% 1/6/23, VRDN (b) | 200,000 | 200,000 | |
TOTAL ALABAMA | 1,300,000 | ||
Arizona - 0.2% | |||
Maricopa County Poll. Cont. Rev. Series 2009 C, 4% 1/6/23, VRDN (b) | 400,000 | 400,000 | |
Kansas - 0.3% | |||
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.): | |||
Series 2007 A, 3.68% 1/6/23, VRDN (b) | 400,000 | 400,000 | |
Series 2007 B, 3.68% 1/6/23, VRDN (b) | 100,000 | 100,000 | |
TOTAL KANSAS | 500,000 | ||
Michigan - 40.7% | |||
Central Michigan Univ. Rev. Series 2008 A, 3.66% 1/6/23, LOC TD Banknorth, NA, VRDN (b) | 2,145,000 | 2,145,000 | |
Grand Valley Michigan State Univ. Rev. Series 2008 B, 3.66% 1/6/23, LOC TD Banknorth, NA, VRDN (b) | 1,945,000 | 1,945,000 | |
Kent Hosp. Fin. Auth. Hosp. Facilities Rev. (Spectrum Health Sys. Proj.) Series 2008 B3, 3.65% 1/6/23 (Liquidity Facility Wells Fargo Bank NA), VRDN (b) | 400,000 | 400,000 | |
Lakeview School District Calhoun County Series B, 3.66% 1/6/23 (Michigan Gen. Oblig. Guaranteed), LOC TD Banknorth, NA, VRDN (b) | 1,355,000 | 1,355,000 | |
Michigan Fin. Auth. Rev. (Hosp. Proj.) Series 2016 E2, 3.76% 1/6/23, VRDN (b) | 300,000 | 300,000 | |
Michigan Hsg. Dev. Auth. Rental Hsg. Rev.: | |||
Series 2002 A, 3.8% 1/6/23, LOC Bank of America NA, VRDN (b)(c) | 4,300,000 | 4,300,000 | |
Series 2008 A, 3.68% 1/6/23, LOC Barclays Bank PLC, VRDN (b)(c) | 2,895,000 | 2,895,000 | |
Series 2018 C, 3.75% 1/6/23, LOC Bank of America NA, VRDN (b)(c) | 9,325,000 | 9,325,000 | |
Michigan State Univ. Revs. Series 2000 A: | |||
3.68% 1/6/23 (Liquidity Facility Northern Trust Co.), VRDN (b) | 3,105,000 | 3,105,000 | |
3.68% 1/6/23 (Liquidity Facility PNC Bank NA), VRDN (b) | 3,725,000 | 3,725,000 | |
Michigan Strategic Fund Ltd. Oblig. Rev.: | |||
(Henry Ford Museum & Greenfield Village Proj.) Series 2002, 3.75% 1/3/23, LOC Comerica Bank, VRDN (b) | 1,450,000 | 1,450,000 | |
(The Kroger Co. Recovery Zone Facilities Bond Proj.) Series 2010, 3.7% 1/6/23, LOC Bank of Nova Scotia, VRDN (b) | 10,660,000 | 10,660,000 | |
Univ. of Michigan Rev. Series 2012 A, 3.55% 1/6/23, VRDN (b) | 6,000,000 | 6,000,000 | |
FHLMC Livonia Econ. Dev. Corp. (Madonna Univ. Proj.) Series 2009, 3.7% 1/6/23, LOC Fed. Home Ln. Bank Chicago, VRDN (b) | 17,465,000 | 17,465,000 | |
TOTAL MICHIGAN | 65,070,000 | ||
Nebraska - 0.9% | |||
Stanton County Indl. Dev. Rev.: | |||
(Nucor Corp. Proj.) Series 1996, 4.15% 1/6/23, VRDN (b)(c) | 500,000 | 500,000 | |
Series 1998, 4.15% 1/6/23, VRDN (b)(c) | 1,000,000 | 1,000,000 | |
TOTAL NEBRASKA | 1,500,000 | ||
TOTAL VARIABLE RATE DEMAND NOTE (Cost $68,770,000) | 68,770,000 | ||
Tender Option Bond - 21.4% | |||
Principal Amount (a) | Value ($) | ||
Colorado - 0.5% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN Series 2022 004, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 800,000 | 800,000 | |
Connecticut - 0.2% | |||
Connecticut Gen. Oblig. Participating VRDN Series Floaters 016, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 400,000 | 400,000 | |
Florida - 0.3% | |||
Miami-Dade County Aviation Rev. Participating VRDN Series 2022 025, 3.84% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(d)(e) | 100,000 | 100,000 | |
Miami-Dade County Wtr. & Swr. Rev. Participating VRDN Series 2021 XF 11 01, 3.72% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(d)(e) | 400,000 | 400,000 | |
TOTAL FLORIDA | 500,000 | ||
Maryland - 0.3% | |||
Univ. of Maryland Med. Sys., Participating VRDN Series 2022 031, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 500,000 | 500,000 | |
Michigan - 19.8% | |||
Detroit Downtown Dev. Auth. Tax Participating VRDN Series Floaters XX 11 01, 3.7% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 8,000,000 | 8,000,000 | |
Eastern Michigan Univ. Revs. Participating VRDN Series Floater 046, 3.86% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 1,600,000 | 1,600,000 | |
Grand Rapids San. Swr. Sys. Rev. Participating VRDN Series Floaters XF 26 12, 3.58% 1/6/23 (Liquidity Facility Citibank NA) (b)(d)(e) | 4,000,000 | 4,000,000 | |
Mclaren Health Care Corp. Participating VRDN Series XL 02 71, 3.76% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 1,740,000 | 1,740,000 | |
Michigan Bldg. Auth. Rev. Participating VRDN: | |||
Series 2021 XF 11 15, 3.72% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(d)(e) | 2,285,000 | 2,285,000 | |
Series Floaters XF 26 09, 3.69% 1/6/23 (Liquidity Facility Citibank NA) (b)(d)(e) | 800,000 | 800,000 | |
Series Floaters XM 04 65, 3.69% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(d)(e) | 700,000 | 700,000 | |
Series Floaters XM 07 43, 3.37% 1/6/23 (Liquidity Facility Wells Fargo Bank NA) (b)(d)(e) | 500,000 | 500,000 | |
Michigan Fin. Auth. Rev. Participating VRDN Series XM 04 72, 3.69% 1/6/23 (Liquidity Facility Citibank NA) (b)(d)(e) | 1,450,000 | 1,450,000 | |
Michigan Hosp. Fin. Auth. Rev. Participating VRDN Series 2022 ZF 14 01, 3.69% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 1,250,000 | 1,250,000 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Participating VRDN Series YZ 11 94, 3.69% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 1,400,000 | 1,400,000 | |
Trenton Pub. Schools School District Participating VRDN Series Floaters CTFS G 102, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 3,100,000 | 3,100,000 | |
Univ. of Michigan Rev. Participating VRDN: | |||
Series 15 XF2199, 3.69% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(d)(e) | 1,900,500 | 1,900,500 | |
Series 15 XF2205, 3.32% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 2,400,000 | 2,400,000 | |
Series Floaters XF 25 48, 3.57% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 500,000 | 500,000 | |
TOTAL MICHIGAN | 31,625,500 | ||
Missouri - 0.2% | |||
Kansas City Indl. Dev. Auth. Participating VRDN Series XG 03 96, 3.85% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(d)(e) | 300,000 | 300,000 | |
New York - 0.1% | |||
New York City Gen. Oblig. Participating VRDN Series 2020 003, 3.81% 2/10/23 (Liquidity Facility Wells Fargo Bank NA) (b)(d)(e) | 100,000 | 100,000 | |
TOTAL TENDER OPTION BOND (Cost $34,225,500) | 34,225,500 | ||
Investment Company - 35.7% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.72% (f)(g) (Cost $57,148,727) | 57,137,992 | 57,148,727 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $160,144,227) | 160,144,227 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (74,138) |
NET ASSETS - 100.0% | 160,070,089 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Provides evidence of ownership in one or more underlying municipal bonds. |
(e) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(f) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 3.72% | 21,013,810 | 108,406,999 | 72,273,000 | 310,218 | 918 | - | 57,148,727 | 2.3% |
Total | 21,013,810 | 108,406,999 | 72,273,000 | 310,218 | 918 | - | 57,148,727 | |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $102,995,500) | $102,995,500 | |||
Fidelity Central Funds (cost $57,148,727) | 57,148,727 | |||
Total Investment in Securities (cost $160,144,227) | $ | 160,144,227 | ||
Interest receivable | 444,732 | |||
Distributions receivable from Fidelity Central Funds | 134,304 | |||
Prepaid expenses | 75 | |||
Receivable from investment adviser for expense reductions | 5,306 | |||
Total assets | 160,728,644 | |||
Liabilities | ||||
Payable to custodian bank | 388,660 | |||
Payable for fund shares redeemed | 103,032 | |||
Distributions payable | 37,956 | |||
Accrued management fee | 46,823 | |||
Other affiliated payables | 23,196 | |||
Other payables and accrued expenses | 58,888 | |||
Total Liabilities | 658,555 | |||
Net Assets | $ | 160,070,089 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 160,084,130 | ||
Total accumulated earnings (loss) | (14,041) | |||
Net Assets | $ | 160,070,089 | ||
Net Asset Value , offering price and redemption price per share ($160,070,089 ÷ 159,907,745 shares) | $ | 1.00 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 1,830,550 | ||
Income from Fidelity Central Funds | 309,871 | |||
Total Income | 2,140,421 | |||
Expenses | ||||
Management fee | $ | 637,868 | ||
Transfer agent fees | 288,329 | |||
Accounting fees and expenses | 28,604 | |||
Custodian fees and expenses | 2,315 | |||
Independent trustees' fees and expenses | 599 | |||
Registration fees | 18,050 | |||
Audit | 40,131 | |||
Legal | 10,667 | |||
Miscellaneous | 27,152 | |||
Total expenses before reductions | 1,053,715 | |||
Expense reductions | (192,036) | |||
Total expenses after reductions | 861,679 | |||
Net Investment income (loss) | 1,278,742 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (13,562) | |||
Fidelity Central Funds | 918 | |||
Capital gain distributions from Fidelity Central Funds | 347 | |||
Total net realized gain (loss) | (12,297) | |||
Net increase in net assets resulting from operations | $ | 1,266,445 |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,278,742 | $ | 21,052 |
Net realized gain (loss) | (12,297) | 23,323 | ||
Net increase in net assets resulting from operations | 1,266,445 | 44,375 | ||
Distributions to shareholders | (1,402,551) | (105,307) | ||
Share transactions | ||||
Proceeds from sales of shares | 12,675,176 | 25,122,420 | ||
Reinvestment of distributions | 1,248,480 | 99,870 | ||
Cost of shares redeemed | (55,069,884) | (38,896,191) | ||
Net increase (decrease) in net assets and shares resulting from share transactions | (41,146,228) | (13,673,901) | ||
Total increase (decrease) in net assets | (41,282,334) | (13,734,833) | ||
Net Assets | ||||
Beginning of period | 201,352,423 | 215,087,256 | ||
End of period | $ | 160,070,089 | $ | 201,352,423 |
Other Information | ||||
Shares | ||||
Sold | 12,675,177 | 25,122,420 | ||
Issued in reinvestment of distributions | 1,248,480 | 99,870 | ||
Redeemed | (55,069,885) | (38,896,191) | ||
Net increase (decrease) | (41,146,228) | (13,673,901) | ||
Fidelity® Michigan Municipal Money Market Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A | .008 | - B | .003 | .010 | .009 | |||||
Net realized and unrealized gain (loss) | - B | - B | - B | - B | .001 | |||||
Total from investment operations | .008 | - B | .003 | .010 | .010 | |||||
Distributions from net investment income | (.008) | - B | (.003) | (.010) | (.009) | |||||
Distributions from net realized gain | (.001) | - B | - B | - B | (.001) | |||||
Total distributions | (.008) C | - B | (.003) | (.010) | (.010) | |||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Total Return D | .83% | .05% | .34% | .98% | 1.01% | |||||
Ratios to Average Net Assets A,E,F | ||||||||||
Expenses before reductions | .57% | .55% | .55% | .55% | .55% | |||||
Expenses net of fee waivers, if any | .47% | .09% | .32% | .55% | .55% | |||||
Expenses net of all reductions | .47% | .09% | .32% | .55% | .55% | |||||
Net investment income (loss) | .70% | .01% | .34% | .98% | .90% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 160,070 | $ | 201,352 | $ | 215,087 | $ | 253,138 | $ | 310,652 |
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% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Michigan Municipal Income Fund | $529,193,793 | $1,228,432 | $(36,830,290) | $(35,601,858) |
Fidelity Michigan Municipal Money Market Fund | 160,144,227 | - | - | - |
Capital loss carryforward | Net unrealized appreciation (depreciation) on securities and other investments | |
Fidelity Michigan Municipal Income Fund | $(3,890,904) | $(35,601,858) |
Fidelity Michigan Municipal Money Market Fund | (12,297) | - |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Michigan Municipal Income Fund | $(645,766) | $(3,245,138) | $(3,890,904) |
Fidelity Michigan Municipal Money Market Fund | (12,297) | - | (12,297) |
December 31, 2022 | ||||
Tax-Exempt Income | Ordinary Income | Long-term Capital Gains | Total | |
Fidelity Michigan Municipal Income Fund | $13,373,131 | $- | $739,699 | $14,112,830 |
Fidelity Michigan Municipal Money Market Fund | 1,278,768 | 123,783 | - | 1,402,551 |
December 31, 2021 | |||
Tax-Exempt Income | Long-term Capital Gains | Total | |
Fidelity Michigan Municipal Income Fund | $15,137,601 | $3,461,919 | $18,599,520 |
Fidelity Michigan Municipal Money Market Fund | 20,999 | 84,308 | 105,307 |
Purchases ($) | Sales ($) | |
Fidelity Michigan Municipal Income Fund | 43,409,588 | 196,999,386 |
Individual Rate | Group Rate | Total | |
Fidelity Michigan Municipal Income Fund | .25% | .10% | .35% |
Fidelity Michigan Municipal Money Market Fund | .25% | .10% | .35% |
Fidelity Michigan Municipal Income Fund | .10% |
Fidelity Michigan Municipal Money Market Fund | .16% |
% of Average Net Assets | |
Fidelity Michigan Municipal Income Fund | .02 |
Fidelity Michigan Municipal Money Market Fund | .02 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Michigan Municipal Income Fund | - | 17,650,000 | - |
Fidelity Michigan Municipal Money Market Fund | 3,420,000 | 19,555,000 | - |
Amount | |
Fidelity Michigan Municipal Income Fund | $1,100 |
Expense Limitations | Reimbursement | |
Fidelity Michigan Municipal Money Market Fund | .55% | $18,586 |
Custodian credits | |
Fidelity Michigan Municipal Income Fund | $7,412 |
Fidelity Michigan Municipal Money Market Fund | 73 |
Amount | |
Fidelity Michigan Municipal Income Fund | $11,074 |
Fidelity Michigan Municipal Money Market Fund | 3,329 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Michigan Municipal Income Fund | .48% | |||||||||
Actual | $ 1,000 | $ 999.40 | $ 2.42 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.79 | $ 2.45 | |||||||
Fidelity® Michigan Municipal Money Market Fund | .58% | |||||||||
Actual | $ 1,000 | $ 1,007.90 | $ 2.94 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.28 | $ 2.96 | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Ohio Municipal Income Fund | -8.60% | 0.79% | 2.09% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Ohio Municipal Income Fund on December 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Revenue Sources (% of Fund's net assets) | ||
Health Care | 40.5% | |
Education | 16.3% | |
General Obligations | 11.9% | |
Special Tax | 10.5% | |
Transportation | 5.2% | |
Others* (Individually Less Than 5%) | 15.6% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 89.1% | |||
Principal Amount (a) | Value ($) | ||
Guam - 0.2% | |||
Guam Int'l. Arpt. Auth. Rev. Series 2013 C: | |||
6.25% 10/1/34 (b) | 545,000 | 556,509 | |
6.25% 10/1/34 (Pre-Refunded to 10/1/23 @ 100) (b) | 355,000 | 362,497 | |
6.375% 10/1/43 (b) | 355,000 | 362,818 | |
TOTAL GUAM | 1,281,824 | ||
Ohio - 87.8% | |||
Akron Bath Copley Hosp. District Rev.: | |||
(Summa Health Sys.) Series 2016, 5% 11/15/25 | 1,000,000 | 1,041,076 | |
Series 2016: | |||
5% 11/15/26 | 535,000 | 564,036 | |
5.25% 11/15/32 | 1,000,000 | 1,049,317 | |
5.25% 11/15/34 | 1,500,000 | 1,557,011 | |
5.25% 11/15/41 | 10,545,000 | 10,713,004 | |
5.25% 11/15/46 | 2,650,000 | 2,677,502 | |
Akron Income Tax Rev. Series 2022: | |||
4% 12/1/24 | 1,075,000 | 1,100,010 | |
4% 12/1/25 | 1,400,000 | 1,450,382 | |
4% 12/1/26 | 1,120,000 | 1,173,376 | |
4% 12/1/27 | 1,180,000 | 1,246,652 | |
4% 12/1/28 | 1,380,000 | 1,468,176 | |
4% 12/1/29 | 1,500,000 | 1,605,840 | |
4% 12/1/30 | 1,210,000 | 1,285,383 | |
4% 12/1/31 | 1,105,000 | 1,165,986 | |
4% 12/1/32 | 1,285,000 | 1,351,746 | |
4% 12/1/33 | 1,300,000 | 1,359,455 | |
Allen County Hosp. Facilities Rev.: | |||
(Mercy Health) Series 2017 A: | |||
4% 8/1/36 | 5,000,000 | 5,004,044 | |
5% 8/1/42 | 4,175,000 | 4,362,800 | |
Series 2020 A: | |||
4% 12/1/40 | 11,880,000 | 11,126,599 | |
5% 12/1/35 | 750,000 | 816,750 | |
Bowling Green Univ. Gen. Receipts Series 2016 A, 5% 6/1/42 | 1,000,000 | 1,041,216 | |
Buckeye Tobacco Settlement Fing. Auth.: | |||
Series 2020 A2: | |||
3% 6/1/48 | 1,500,000 | 1,055,788 | |
4% 6/1/37 | 2,000,000 | 1,899,287 | |
4% 6/1/38 | 1,000,000 | 941,014 | |
4% 6/1/39 | 1,000,000 | 931,314 | |
4% 6/1/48 | 5,750,000 | 4,920,310 | |
5% 6/1/27 | 1,000,000 | 1,048,279 | |
5% 6/1/35 | 2,000,000 | 2,090,521 | |
5% 6/1/36 | 2,000,000 | 2,079,244 | |
Series 2020 B2, 5% 6/1/55 | 1,500,000 | 1,302,001 | |
Butler County Hosp. Facilities Rev. Series 2016 X, 5% 5/15/32 | 3,950,000 | 4,565,106 | |
Chillicothe Hosp. Facilities Rev. (Adena Health Sys. Oblig. Group Proj.) Series 2017, 5% 12/1/47 | 8,535,000 | 8,223,707 | |
Cleveland Arpt. Sys. Rev.: | |||
Series 2018 A: | |||
5% 1/1/43 (Assured Guaranty Muni. Corp. Insured) (b) | 1,750,000 | 1,788,054 | |
5% 1/1/48 (Assured Guaranty Muni. Corp. Insured) (b) | 3,000,000 | 3,044,222 | |
Series 2019 B: | |||
5% 1/1/24 (b) | 1,200,000 | 1,220,456 | |
5% 1/1/25 (b) | 1,125,000 | 1,156,687 | |
5% 1/1/26 (b) | 710,000 | 739,585 | |
5% 1/1/27 (b) | 700,000 | 736,772 | |
Cleveland Gen. Oblig. Series 2012, 5% 12/1/25 | 25,000 | 25,035 | |
Cleveland Income Tax Rev. Series 2018 A: | |||
5% 10/1/29 | 600,000 | 664,780 | |
5% 10/1/30 | 420,000 | 465,214 | |
5% 10/1/31 | 650,000 | 717,271 | |
5% 10/1/33 | 600,000 | 659,390 | |
5% 10/1/36 | 700,000 | 757,021 | |
5% 10/1/39 | 2,040,000 | 2,185,673 | |
5% 10/1/43 | 5,000,000 | 5,319,604 | |
Cleveland Ohio Wtr. Poll. Ctl. Rev. Series 2016, 5% 11/15/36 | 450,000 | 463,527 | |
Cleveland Pub. Library Facilities Series 2019 A: | |||
4% 12/1/33 | 425,000 | 447,892 | |
4% 12/1/34 | 370,000 | 386,693 | |
4% 12/1/35 | 620,000 | 644,997 | |
4% 12/1/36 | 1,400,000 | 1,439,367 | |
4% 12/1/37 | 1,115,000 | 1,135,198 | |
4% 12/1/38 | 650,000 | 652,683 | |
Cleveland Pub. Pwr. Sys. Rev.: | |||
Series 2018: | |||
5% 11/15/24 (Assured Guaranty Muni. Corp. Insured) | 475,000 | 493,100 | |
5% 11/15/25 (Assured Guaranty Muni. Corp. Insured) | 200,000 | 212,027 | |
5% 11/15/26 (Assured Guaranty Muni. Corp. Insured) | 265,000 | 286,148 | |
5% 11/15/27 (Assured Guaranty Muni. Corp. Insured) | 220,000 | 241,735 | |
5% 11/15/28 (Assured Guaranty Muni. Corp. Insured) | 150,000 | 166,203 | |
5% 11/15/29 (Assured Guaranty Muni. Corp. Insured) | 210,000 | 232,603 | |
5% 11/15/30 (Assured Guaranty Muni. Corp. Insured) | 530,000 | 585,495 | |
5% 11/15/32 (Assured Guaranty Muni. Corp. Insured) | 365,000 | 399,915 | |
5% 11/15/34 (Assured Guaranty Muni. Corp. Insured) | 785,000 | 851,561 | |
5% 11/15/36 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,075,096 | |
5% 11/15/38 (Assured Guaranty Muni. Corp. Insured) | 830,000 | 887,062 | |
Series 2020 A: | |||
4% 11/15/35 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,016,133 | |
4% 11/15/36 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,005,565 | |
4% 11/15/37 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 997,313 | |
Cleveland Wtr. Rev.: | |||
Series 2015 Y, 4% 1/1/28 | 650,000 | 658,770 | |
Series 2020: | |||
5% 1/1/30 | 2,000,000 | 2,288,027 | |
5% 1/1/31 | 2,250,000 | 2,573,173 | |
5% 1/1/32 | 1,000,000 | 1,137,539 | |
Cleveland-Cuyahoga County Port Auth. Dev. Lease Rev. (Administrative Headquarters Proj.) Series 2013, 5% 7/1/37 | 3,000,000 | 3,427,869 | |
Cleveland-Cuyahoga County Port Auth. Rev. (Euclid Avenue Dev. Corp. Proj.) Series 2022 A: | |||
5% 8/1/34 | 1,865,000 | 2,021,508 | |
5% 8/1/35 | 1,910,000 | 2,046,148 | |
5% 8/1/36 | 2,065,000 | 2,197,142 | |
5% 8/1/37 | 2,170,000 | 2,293,123 | |
County of Cuyahoga (Ballpark Impt. Proj.) Series 2022 A: | |||
4% 1/1/36 | 3,855,000 | 3,964,432 | |
4% 1/1/37 | 3,755,000 | 3,839,789 | |
Cuyahoga County Econ. Dev. Rev.: | |||
(The Cleveland Orchestra Proj.) Series 2019: | |||
5% 1/1/29 | 325,000 | 355,444 | |
5% 1/1/30 | 250,000 | 275,053 | |
5% 1/1/31 | 525,000 | 577,431 | |
5% 1/1/32 | 500,000 | 548,729 | |
5% 1/1/33 | 400,000 | 438,043 | |
5% 1/1/34 | 300,000 | 328,469 | |
5% 1/1/35 | 500,000 | 543,886 | |
5% 1/1/36 | 440,000 | 475,688 | |
5% 1/1/37 | 400,000 | 429,732 | |
5% 1/1/39 | 1,400,000 | 1,495,340 | |
5% 1/1/40 | 1,620,000 | 1,726,528 | |
Series 2020 D, 5% 12/1/27 | 2,500,000 | 2,755,109 | |
Cuyahoga County Hosp. Rev. Series 2017: | |||
5% 2/15/26 | 1,750,000 | 1,835,656 | |
5% 2/15/27 | 1,700,000 | 1,793,724 | |
5% 2/15/28 | 2,385,000 | 2,501,942 | |
5% 2/15/30 | 3,000,000 | 3,136,424 | |
5% 2/15/31 | 1,500,000 | 1,565,893 | |
5% 2/15/32 | 1,450,000 | 1,510,380 | |
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013, 5.25% 6/15/43 | 5,000,000 | 4,872,662 | |
Franklin County Convention Facilities Auth. (Greater Columbus Convention Ctr. Hotel Expansion Proj.) Series 2019: | |||
5% 12/1/44 | 2,500,000 | 2,471,232 | |
5% 12/1/51 | 6,000,000 | 5,771,417 | |
Franklin County Convention Facilities Auth. Tax & Lease Rev. Series 2014: | |||
5% 12/1/25 | 1,250,000 | 1,298,675 | |
5% 12/1/26 | 3,045,000 | 3,158,397 | |
Franklin County Hosp. Facilities Rev.: | |||
(Ohiohealth Corp. Proj.) Series 2015, 5% 5/15/40 | 3,600,000 | 3,648,155 | |
Bonds (U.S. Health Corp. of Columbus Proj.) Series 2011 B, 5%, tender 5/15/23 (c) | 2,465,000 | 2,479,741 | |
Series 2016 C: | |||
4% 11/1/40 | 3,000,000 | 2,930,398 | |
5% 11/1/34 | 2,155,000 | 2,306,075 | |
Franklin County Ohio Sales Tax R Series 2018, 5% 6/1/48 | 5,920,000 | 6,296,204 | |
Hamilton County Convention Facilities Auth. Rev. Series 2014, 5% 12/1/27 | 3,825,000 | 3,848,743 | |
Hamilton County Healthcare Rev. (Life Enriching Cmntys. Proj.) Series 2016: | |||
5% 1/1/31 | 1,350,000 | 1,339,477 | |
5% 1/1/36 | 3,450,000 | 3,341,087 | |
Hamilton County Hosp. Facilities Rev. Series 2014, 5% 2/1/44 | 775,000 | 768,255 | |
Kent State Univ. Revs.: | |||
Series 2016, 5% 5/1/30 | 1,125,000 | 1,195,574 | |
Series 2020 A: | |||
5% 5/1/45 | 1,250,000 | 1,335,225 | |
5% 5/1/50 | 1,700,000 | 1,804,607 | |
Lake County Hosp. Facilities Rev. Series 2015, 5% 8/15/27 (Pre-Refunded to 8/15/25 @ 100) | 770,000 | 810,987 | |
Lancaster Port Auth. Gas Rev.: | |||
Bonds Series 2019, 5%, tender 2/1/25 (c) | 6,235,000 | 6,340,782 | |
Series 2019, 5% 8/1/24 | 655,000 | 665,462 | |
Miami County Hosp. Facilities Rev. (Kettering Health Network Obligated Group Proj.) Series 2019: | |||
5% 8/1/45 | 5,500,000 | 5,628,815 | |
5% 8/1/49 | 1,750,000 | 1,779,997 | |
Miami Univ. Series 2022 A: | |||
5% 9/1/25 | 780,000 | 823,139 | |
5% 9/1/26 | 820,000 | 882,164 | |
5% 9/1/27 | 575,000 | 629,592 | |
5% 9/1/28 | 520,000 | 577,599 | |
5% 9/1/29 | 545,000 | 613,082 | |
5% 9/1/30 | 500,000 | 570,613 | |
5% 9/1/31 | 700,000 | 808,590 | |
5% 9/1/32 | 735,000 | 842,446 | |
5% 9/1/33 | 780,000 | 889,670 | |
5% 9/1/34 | 1,000,000 | 1,130,397 | |
Miamisburg City School District Series 2016: | |||
5% 12/1/28 (Pre-Refunded to 12/1/25 @ 100) | 500,000 | 533,450 | |
5% 12/1/29 (Pre-Refunded to 12/1/25 @ 100) | 300,000 | 320,070 | |
Middleburg Heights Hosp. Rev.: | |||
Series 2020 A, 4% 8/1/47 | 3,000,000 | 2,634,055 | |
Series 2021 A, 4% 8/1/41 | 3,000,000 | 2,782,634 | |
Milford Exempt Village School District Series 2015, 3.5% 12/1/31 | 500,000 | 504,210 | |
Montgomery County Hosp. Rev.: | |||
(Kettering Health Network Obligated Group Proj.) Series 2021: | |||
3% 8/1/51 | 4,880,000 | 3,342,787 | |
4% 8/1/37 | 1,125,000 | 1,112,552 | |
4% 8/1/41 | 850,000 | 821,634 | |
4% 8/1/51 | 2,000,000 | 1,775,380 | |
5% 8/1/32 | 750,000 | 817,438 | |
5% 8/1/36 | 1,225,000 | 1,301,687 | |
5% 8/1/38 | 1,000,000 | 1,053,643 | |
5% 8/1/39 | 1,100,000 | 1,150,036 | |
Series 2021, 4% 8/1/46 | 1,230,000 | 1,132,823 | |
Ohio Cap. Facilities Lease (Ohio Gen. Oblig. Proj.) Series 2017 A: | |||
5% 10/1/32 | 1,625,000 | 1,775,773 | |
5% 10/1/33 | 1,500,000 | 1,634,314 | |
5% 10/1/35 | 1,450,000 | 1,569,157 | |
5% 10/1/36 | 1,250,000 | 1,349,859 | |
5% 10/1/37 | 1,430,000 | 1,541,626 | |
Ohio Gen. Oblig. Series 2021 A: | |||
5% 3/1/40 | 1,345,000 | 1,489,008 | |
5% 3/1/41 | 2,000,000 | 2,203,313 | |
Ohio Higher Edl. Facility Commission Rev.: | |||
(Case Western Reserve Univ. Proj.) Series 2019 B: | |||
5% 12/1/37 | 835,000 | 905,307 | |
5% 12/1/38 | 1,100,000 | 1,188,593 | |
5% 12/1/39 | 775,000 | 834,133 | |
(Denison Univ. 2021 Proj.) Series 2021: | |||
4% 11/1/39 | 400,000 | 392,473 | |
4% 11/1/45 | 1,900,000 | 1,794,088 | |
5% 11/1/30 | 300,000 | 340,921 | |
5% 11/1/33 | 300,000 | 337,973 | |
5% 11/1/35 | 300,000 | 334,077 | |
5% 11/1/41 | 300,000 | 326,999 | |
(Kenyon College 2015 Proj.) Series 2015, 5% 7/1/41 | 3,100,000 | 3,169,001 | |
(Kenyon College 2020 Proj.) Series 2020: | |||
5% 7/1/38 | 2,500,000 | 2,663,947 | |
5% 7/1/39 | 2,640,000 | 2,801,354 | |
(Kenyon College, Oh. Proj.) Series 2017: | |||
4% 7/1/36 | 400,000 | 392,814 | |
4% 7/1/37 | 450,000 | 436,905 | |
5% 7/1/28 | 400,000 | 427,065 | |
5% 7/1/29 | 735,000 | 784,553 | |
5% 7/1/30 | 300,000 | 320,139 | |
5% 7/1/31 | 400,000 | 426,466 | |
5% 7/1/33 | 650,000 | 690,647 | |
5% 7/1/35 | 1,550,000 | 1,633,790 | |
5% 7/1/42 | 1,400,000 | 1,454,067 | |
(Otterbein Univ. 2022 Proj.) Series 2022 A, 4% 12/1/46 | 1,250,000 | 1,059,724 | |
(The College of Wooster 2018 Proj.) Series 2018: | |||
5% 9/1/33 | 1,445,000 | 1,580,716 | |
5% 9/1/45 | 4,255,000 | 4,453,127 | |
(Univ. of Dayton 2018 Proj.) Series A, 5% 12/1/48 | 1,000,000 | 1,028,448 | |
(Univ. of Dayton 2020 Proj.) Series 2020: | |||
4% 2/1/36 | 900,000 | 903,038 | |
5% 2/1/34 | 1,000,000 | 1,092,576 | |
5% 2/1/35 | 800,000 | 867,978 | |
(Univ. of Dayton Proj.) Series 2018 B: | |||
4% 12/1/33 | 1,155,000 | 1,174,303 | |
5% 12/1/29 | 1,310,000 | 1,416,532 | |
5% 12/1/31 | 1,130,000 | 1,215,390 | |
5% 12/1/35 | 1,000,000 | 1,061,693 | |
5% 12/1/36 | 1,000,000 | 1,057,807 | |
(Xavier Univ. Proj.) Series 2015 C, 5% 5/1/29 | 855,000 | 888,041 | |
Bonds (Case Western Reserve Univ. Proj.) Series 2019 C, 1.625%, tender 12/1/26 (c) | 5,000,000 | 4,692,482 | |
Series 2019, 4% 10/1/49 | 3,270,000 | 2,866,725 | |
Ohio Hosp. Facilities Rev.: | |||
Series 2019 B, 4% 1/1/40 | 3,000,000 | 2,994,261 | |
Series 2021 B: | |||
5% 1/1/30 | 2,500,000 | 2,844,684 | |
5% 1/1/31 | 2,180,000 | 2,518,013 | |
5% 1/1/32 | 1,580,000 | 1,845,213 | |
5% 1/1/33 | 2,410,000 | 2,806,552 | |
5% 1/1/34 | 2,425,000 | 2,796,341 | |
5% 1/1/35 | 230,000 | 262,942 | |
5% 1/1/36 | 540,000 | 612,348 | |
5% 1/1/37 | 250,000 | 279,709 | |
5% 1/1/38 | 855,000 | 949,092 | |
5% 1/1/39 | 925,000 | 1,018,044 | |
Ohio Hosp. Rev.: | |||
Series 2013 A, 5% 1/15/28 | 720,000 | 720,384 | |
Series 2020 A, 4% 1/15/50 | 1,000,000 | 871,087 | |
Series 2020: | |||
3% 1/15/45 | 2,500,000 | 1,856,289 | |
4% 11/15/37 | 1,025,000 | 952,840 | |
4% 11/15/39 | 1,115,000 | 1,017,927 | |
4% 11/15/40 | 1,110,000 | 1,003,535 | |
4% 11/15/41 | 1,175,000 | 1,056,223 | |
5% 11/15/33 | 1,270,000 | 1,351,921 | |
5% 11/15/35 | 1,465,000 | 1,542,275 | |
Series 2021 A, 3% 1/15/46 | 5,000,000 | 3,660,910 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev.: | |||
(Mtg. Backed Securities Prog.): | |||
Series 2017 B, 4.5% 3/1/47 (b) | 355,000 | 356,278 | |
Series 2019 B, 4.5% 3/1/50 | 4,600,000 | 4,662,866 | |
(Mtg.-Backed Securities Prog.) Series 2022 A: | |||
5% 3/1/30 | 400,000 | 446,405 | |
5% 3/1/31 | 600,000 | 677,628 | |
5% 9/1/31 | 640,000 | 726,199 | |
Series 2021 C, 3.25% 3/1/51 | 7,850,000 | 7,664,590 | |
Series 2022 B, 5% 3/1/52 | 3,000,000 | 3,126,575 | |
Ohio Parks & Recreation Cap. Facilities (Parks and Recreation Impt. Fund Proj.) Series 2022 A: | |||
5% 12/1/27 | 1,325,000 | 1,463,411 | |
5% 12/1/28 | 1,325,000 | 1,489,168 | |
5% 12/1/29 | 1,500,000 | 1,710,671 | |
5% 12/1/30 | 1,600,000 | 1,850,712 | |
5% 12/1/31 | 1,000,000 | 1,171,034 | |
Ohio Spl. Oblig.: | |||
(Administrative Bldg. Fund Projs.) Series 2020 B, 5% 4/1/39 | 1,865,000 | 2,036,743 | |
(Ohio Gen. Oblig. Proj.) Series 2017 A: | |||
5% 4/1/29 | 2,535,000 | 2,758,849 | |
5% 4/1/30 | 2,250,000 | 2,441,172 | |
5% 4/1/31 | 2,000,000 | 2,164,940 | |
5% 4/1/32 | 1,115,000 | 1,204,179 | |
5% 4/1/33 | 1,850,000 | 1,988,794 | |
5% 4/1/34 | 1,000,000 | 1,072,145 | |
Series 2020 A: | |||
5% 2/1/29 | 2,875,000 | 3,235,167 | |
5% 2/1/30 | 1,045,000 | 1,193,458 | |
Series 2021 A: | |||
5% 4/1/34 | 1,430,000 | 1,638,524 | |
5% 4/1/35 | 1,660,000 | 1,887,062 | |
5% 4/1/37 | 1,680,000 | 1,875,370 | |
5% 4/1/38 | 1,000,000 | 1,108,120 | |
5% 4/1/39 | 1,000,000 | 1,103,067 | |
5% 4/1/40 | 1,110,000 | 1,218,617 | |
5% 4/1/41 | 750,000 | 819,698 | |
Ohio Tpk. Commission Tpk. Rev.: | |||
(Infrastructure Proj.) Series 2005 A, 0% 2/15/43 | 10,000,000 | 3,952,953 | |
(Infrastructure Projs.): | |||
Series 2022 A, 5% 2/15/39 | 5,730,000 | 6,458,629 | |
Series A3, 0% 2/15/37 | 400,000 | 161,039 | |
Series A, 5% 2/15/46 | 7,500,000 | 8,068,924 | |
Port Auth. Econ. Dev. Rev.: | |||
(Univ. of Northwestern Ohio Proj.) Series 2021, 4% 12/1/35 | 1,300,000 | 1,209,155 | |
Series 2021, 4% 12/1/31 | 710,000 | 697,160 | |
Ross County Hosp. Facilities Rev. (Adena Health Sys. Obligated Group Proj.) Series 2019, 5% 12/1/49 | 2,000,000 | 1,915,314 | |
Scioto County Hosp. Facilities Rev. Series 2016: | |||
5% 2/15/28 | 5,030,000 | 5,248,614 | |
5% 2/15/30 | 3,860,000 | 3,989,557 | |
5% 2/15/32 | 2,550,000 | 2,616,818 | |
5% 2/15/33 | 2,460,000 | 2,514,320 | |
5% 2/15/34 | 4,450,000 | 4,540,237 | |
Univ. of Cincinnati Gen. Receipts: | |||
Series 2016 A: | |||
5% 6/1/32 | 745,000 | 796,340 | |
5% 6/1/33 | 800,000 | 854,057 | |
5% 6/1/34 | 585,000 | 622,963 | |
Series 2016 C, 5% 6/1/41 | 2,585,000 | 2,707,412 | |
Series 2019 A, 3% 6/1/39 | 3,000,000 | 2,541,173 | |
Univ. of Toledo Gen. Receipts Series 2018 A: | |||
5% 6/1/26 | 600,000 | 640,141 | |
5% 6/1/27 | 350,000 | 379,767 | |
Village of Bluffton Hosp. Facilities Blanchard Valley Reg Health Ctr. Series 2017: | |||
4% 12/1/32 | 1,500,000 | 1,514,350 | |
5% 12/1/29 | 825,000 | 874,107 | |
5% 12/1/31 | 750,000 | 793,182 | |
Washington County Hosp. Rev. Series 2022: | |||
6% 12/1/28 | 200,000 | 203,006 | |
6% 12/1/29 | 215,000 | 218,834 | |
6% 12/1/30 | 230,000 | 234,199 | |
6% 12/1/31 | 245,000 | 248,944 | |
Wright State Univ. Gen. Receipts Series 2022 A: | |||
5% 5/1/24 (Build America Mutual Assurance Insured) | 540,000 | 554,447 | |
5% 5/1/25 (Build America Mutual Assurance Insured) | 490,000 | 512,970 | |
5% 5/1/26 (Build America Mutual Assurance Insured) | 520,000 | 554,660 | |
5% 5/1/27 (Build America Mutual Assurance Insured) | 545,000 | 590,073 | |
5% 5/1/28 (Build America Mutual Assurance Insured) | 565,000 | 621,853 | |
5% 5/1/29 (Build America Mutual Assurance Insured) | 600,000 | 670,160 | |
5% 5/1/30 (Build America Mutual Assurance Insured) | 235,000 | 265,269 | |
5% 5/1/31 (Build America Mutual Assurance Insured) | 250,000 | 285,740 | |
5% 5/1/32 (Build America Mutual Assurance Insured) | 260,000 | 300,376 | |
TOTAL OHIO | 458,185,375 | ||
Puerto Rico - 1.1% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth. Series 2021 B, 5% 7/1/37 (d) | 1,455,000 | 1,374,225 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 1,634,241 | 883,406 | |
5.625% 7/1/27 | 190,000 | 193,585 | |
5.625% 7/1/29 | 590,000 | 603,696 | |
5.75% 7/1/31 | 1,395,000 | 1,442,386 | |
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev. Series 2018 A1, 0% 7/1/31 | 1,515,000 | 986,904 | |
TOTAL PUERTO RICO | 5,484,202 | ||
TOTAL MUNICIPAL BONDS (Cost $493,991,454) | 464,951,401 | ||
Municipal Notes - 8.0% | |||
Principal Amount (a) | Value ($) | ||
Ohio - 8.0% | |||
Franklin County Hosp. Facilities Rev. Series 2022, 3.65% 1/3/23 (Liquidity Facility JPMorgan Chase Bank), VRDN (c) | 24,000,000 | 23,999,986 | |
Montgomery County Hosp. Rev. Series 2019 C, 3.4% 1/3/23, LOC PNC Bank NA, VRDN (c) | 2,400,000 | 2,400,000 | |
Ohio Higher Edl. Facility Commission Rev. (Cleveland Clinic Foundation Proj.) Series 2008 B4, 3.37% 1/3/23 (Liquidity Facility Barclays Bank PLC), VRDN (c) | 15,300,000 | 15,300,000 | |
TOTAL MUNICIPAL NOTES (Cost $41,700,000) | 41,699,986 | ||
TOTAL INVESTMENT IN SECURITIES - 97.1% (Cost $535,691,454) | 506,651,387 |
NET OTHER ASSETS (LIABILITIES) - 2.9% | 15,078,625 |
NET ASSETS - 100.0% | 521,730,012 |
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) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(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 $1,374,225 or 0.3% of net assets. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 506,651,387 | - | 506,651,387 | - |
Total Investments in Securities: | 506,651,387 | - | 506,651,387 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $535,691,454): | $ | 506,651,387 | ||
Cash | 11,279,283 | |||
Receivable for fund shares sold | 468,545 | |||
Interest receivable | 5,819,409 | |||
Prepaid expenses | 584 | |||
Other receivables | 1,639 | |||
Total assets | 524,220,847 | |||
Liabilities | ||||
Payable for fund shares redeemed | $1,856,250 | |||
Distributions payable | 376,902 | |||
Accrued management fee | 153,431 | |||
Other affiliated payables | 55,835 | |||
Other payables and accrued expenses | 48,417 | |||
Total Liabilities | 2,490,835 | |||
Net Assets | $ | 521,730,012 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 554,311,435 | ||
Total accumulated earnings (loss) | (32,581,423) | |||
Net Assets | $ | 521,730,012 | ||
Net Asset Value , offering price and redemption price per share ($521,730,012 ÷ 46,832,102 shares) | $ | 11.14 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 15,878,422 | ||
Expenses | ||||
Management fee | $ | 2,062,336 | ||
Transfer agent fees | 618,681 | |||
Accounting fees and expenses | 143,988 | |||
Custodian fees and expenses | 7,363 | |||
Independent trustees' fees and expenses | 1,949 | |||
Registration fees | 22,644 | |||
Audit | 52,492 | |||
Legal | 2,956 | |||
Miscellaneous | 2,888 | |||
Total expenses before reductions | 2,915,297 | |||
Expense reductions | (18,334) | |||
Total expenses after reductions | 2,896,963 | |||
Net Investment income (loss) | 12,981,459 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,655,544) | |||
Total net realized gain (loss) | (3,655,544) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (69,553,192) | |||
Net gain (loss) | (73,208,736) | |||
Net increase (decrease) in net assets resulting from operations | $ | (60,227,277) |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,981,459 | $ | 14,475,478 |
Net realized gain (loss) | (3,655,544) | 253,604 | ||
Change in net unrealized appreciation (depreciation) | (69,553,192) | (3,814,007) | ||
Net increase (decrease) in net assets resulting from operations | (60,227,277) | 10,915,075 | ||
Distributions to shareholders | (12,952,540) | (14,819,628) | ||
Share transactions | ||||
Proceeds from sales of shares | 191,298,771 | 107,404,517 | ||
Reinvestment of distributions | 8,354,939 | 9,334,614 | ||
Cost of shares redeemed | (321,989,652) | (97,656,138) | ||
Net increase (decrease) in net assets resulting from share transactions | (122,335,942) | 19,082,993 | ||
Total increase (decrease) in net assets | (195,515,759) | 15,178,440 | ||
Net Assets | ||||
Beginning of period | 717,245,771 | 702,067,331 | ||
End of period | $ | 521,730,012 | $ | 717,245,771 |
Other Information | ||||
Shares | ||||
Sold | 16,957,245 | 8,586,036 | ||
Issued in reinvestment of distributions | 736,204 | 747,188 | ||
Redeemed | (28,417,832) | (7,810,213) | ||
Net increase (decrease) | (10,724,383) | 1,523,011 | ||
Fidelity® Ohio Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 12.46 | $ | 12.53 | $ | 12.38 | $ | 11.89 | $ | 12.20 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .251 | .253 | .287 | .319 | .321 | |||||
Net realized and unrealized gain (loss) | (1.321) | (.064) | .235 | .515 | (.279) | |||||
Total from investment operations | (1.070) | .189 | .522 | .834 | .042 | |||||
Distributions from net investment income | (.250) | (.253) | (.287) | (.319) | (.321) | |||||
Distributions from net realized gain | - | (.006) | (.085) | (.025) | (.031) | |||||
Total distributions | (.250) | (.259) | (.372) | (.344) | (.352) | |||||
Net asset value, end of period | $ | 11.14 | $ | 12.46 | $ | 12.53 | $ | 12.38 | $ | 11.89 |
Total Return C | (8.60)% | 1.52% | 4.28% | 7.08% | .39% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .49% | .48% | .48% | .48% | .48% | |||||
Expenses net of fee waivers, if any | .49% | .48% | .48% | .48% | .48% | |||||
Expenses net of all reductions | .49% | .48% | .48% | .48% | .48% | |||||
Net investment income (loss) | 2.19% | 2.02% | 2.31% | 2.60% | 2.70% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 521,730 | $ | 717,246 | $ | 702,067 | $ | 672,948 | $ | 616,306 |
Portfolio turnover rate F | 14% | 6% | 20% | 10% | 11% |
Current 7-Day Yields | ||
Fidelity® Ohio Municipal Money Market Fund | 3.13% | |
Yield refers to the income paid by the Fund over a given period. Yield for money market funds is usually for seven-day periods, as it is here, though it is expressed as an annual percentage rate. Past performance is no guarantee of future results. Yield will vary and it's possible to lose money investing in the Fund. |
Effective Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 91.3 | |
31 - 60 | 8.7 | |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940. |
Asset Allocation (% of Fund's net assets) |
Net Other Assets (Liabilities) - (0.1)%* |
*Net Other Assets (Liabilities) are not available in the pie chart. |
Variable Rate Demand Note - 40.8% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 1.0% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 4.15% 1/6/23, VRDN (b)(c) | 1,260,000 | 1,260,000 | |
West Jefferson Indl. Dev. Series 2008, 3.78% 1/6/23, VRDN (b) | 200,000 | 200,000 | |
TOTAL ALABAMA | 1,460,000 | ||
Arizona - 0.3% | |||
Maricopa County Poll. Cont. Rev. Series 2009 C, 4% 1/6/23, VRDN (b) | 400,000 | 400,000 | |
Kansas - 0.3% | |||
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.): | |||
Series 2007 A, 3.68% 1/6/23, VRDN (b) | 300,000 | 300,000 | |
Series 2007 B, 3.68% 1/6/23, VRDN (b) | 100,000 | 100,000 | |
TOTAL KANSAS | 400,000 | ||
Louisiana - 1.0% | |||
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.) Series 2010 B1, 4.1% 1/6/23, VRDN (b) | 1,500,000 | 1,500,000 | |
Ohio - 37.8% | |||
Cuyahoga County Health Care Facilities Rev. (The A.M. McGregor Home Proj.) Series 2014, 3.76% 1/6/23, LOC Northern Trust Co., VRDN (b) | 11,735,000 | 11,735,000 | |
Franklin County Hosp. Facilities Rev.: | |||
Series 2009 B, 3.62% 1/6/23 (Liquidity Facility Barclays Bank PLC), VRDN (b) | 2,400,000 | 2,400,000 | |
Series 2011 D, 3.6% 1/6/23, VRDN (b) | 2,775,000 | 2,775,000 | |
Series 2013 B, 3.66% 1/6/23 (Liquidity Facility JPMorgan Chase Bank), VRDN (b) | 3,000,000 | 3,000,000 | |
Series 2014, 3.66% 1/6/23 (Liquidity Facility JPMorgan Chase Bank), VRDN (b) | 4,525,000 | 4,525,000 | |
Series 2018 C, 3.6% 1/6/23, VRDN (b) | 700,000 | 700,000 | |
Hamilton County Healthcare Facilities Rev. (The Children's Home of Cincinnati Proj.) Series 2009, 3.47% 1/6/23, LOC U.S. Bank NA, Cincinnati, VRDN (b) | 2,245,000 | 2,245,000 | |
Hamilton County Student Hsg. Rev. (Block 3 Proj.) Series 2004, 3.63% 1/6/23, LOC Citizens Bank NA, VRDN (b) | 12,380,000 | 12,380,000 | |
Ohio Cap. Facilities Lease (Adult Correctional Bldg. Fund Proj.) Series 2019 C, 3.68% 1/6/23, VRDN (b) | 5,900,000 | 5,900,000 | |
Ohio Higher Edl. Facility Commission Rev. Series 2013 B1, 3.6% 1/6/23, VRDN (b) | 4,145,000 | 4,145,000 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. Series 2016 H, 3.64% 1/6/23 (Liquidity Facility Fed. Home Ln. Bank, Cincinnati), VRDN (b)(c) | 6,500,000 | 6,500,000 | |
TOTAL OHIO | 56,305,000 | ||
West Virginia - 0.4% | |||
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev.: | |||
(Appalachian Pwr. Co. Amos Proj.) Series 2008 B, 3.8% 1/6/23, VRDN (b)(c) | 100,000 | 100,000 | |
(Appalachian Pwr. Co.- Mountaineer Proj.) Series 2008 A, 3.78% 1/6/23, VRDN (b)(c) | 500,000 | 500,000 | |
TOTAL WEST VIRGINIA | 600,000 | ||
TOTAL VARIABLE RATE DEMAND NOTE (Cost $60,665,000) | 60,665,000 | ||
Tender Option Bond - 44.7% | |||
Principal Amount (a) | Value ($) | ||
Colorado - 0.5% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN Series 2022 004, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 700,000 | 700,000 | |
Connecticut - 0.3% | |||
Connecticut Gen. Oblig. Participating VRDN Series Floaters 016, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 400,000 | 400,000 | |
Florida - 0.1% | |||
Miami-Dade County Aviation Rev. Participating VRDN Series 2022 025, 3.84% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(d)(e) | 100,000 | 100,000 | |
Kentucky - 0.1% | |||
CommonSpirit Health Participating VRDN Series MIZ 90 21, 3.76% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(e) | 200,000 | 200,000 | |
Maryland - 0.3% | |||
Univ. of Maryland Med. Sys., Participating VRDN Series 2022 031, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 500,000 | 500,000 | |
Michigan - 0.3% | |||
Eastern Michigan Univ. Revs. Participating VRDN Series Floater 046, 3.86% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 500,000 | 500,000 | |
Missouri - 0.2% | |||
Kansas City Indl. Dev. Auth. Participating VRDN Series XG 03 96, 3.85% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(d)(e) | 300,000 | 300,000 | |
Ohio - 42.9% | |||
Allen County Hosp. Facilities Rev. Participating VRDN: | |||
Series Floaters E 134, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 2,830,000 | 2,830,000 | |
Series Floaters XF 25 16, 3.75% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 3,600,000 | 3,600,000 | |
CommonSpirit Health Participating VRDN Series MIZ 90 20, 3.76% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(e) | 2,100,000 | 2,100,000 | |
Cuyahoga County Ctfs. of Prtn. Participating VRDN Series Floaters XG 02 06, 3.76% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 4,100,000 | 4,100,000 | |
Euclid City School District Participating VRDN Series G-39, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 2,100,000 | 2,100,000 | |
Franklin County Hosp. Facilities Rev. Participating VRDN Series 15 XF0244, 3.71% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 2,670,000 | 2,670,000 | |
Green Local School District Summit Participating VRDN Series 2022 XL 03 31, 3.78% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 1,600,000 | 1,600,000 | |
Miami County Hosp. Facilities Rev. Participating VRDN Series Floaters XG 02 25, 3.7% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 6,000,000 | 6,000,000 | |
Middletown Hosp. Facilities Rev. Participating VRDN Series Floaters 003, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 7,900,000 | 7,900,000 | |
Montgomery County Hosp. Rev. Participating VRDN Series Floaters E 132, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 6,800,000 | 6,800,000 | |
Northeast Ohio Reg'l. Swr. District Wastewtr. Rev. Participating VRDN: | |||
Series Floaters XF 07 18, 3.69% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 3,750,000 | 3,750,000 | |
Series Floaters ZF 06 70, 3.69% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 3,100,000 | 3,100,000 | |
Ohio Gen. Oblig. Participating VRDN Series Floaters XF 25 91, 3.69% 1/6/23 (Liquidity Facility Citibank NA) (b)(d)(e) | 2,000,000 | 2,000,000 | |
Ohio Hosp. Rev. Participating VRDN: | |||
Series 002, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 3,300,000 | 3,300,000 | |
Series C18, 3.7% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 1,800,000 | 1,800,000 | |
Ohio State Univ. Gen. Receipts Participating VRDN Series XL 03 21, 3.7% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 2,100,000 | 2,100,000 | |
Univ. of Cincinnati Gen. Receipts Participating VRDN Series Floaters XF 24 38, 3.69% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 4,000,000 | 4,000,000 | |
Upper Arlington City School District Participating VRDN Series Floaters XF 25 92, 3.45% 1/6/23 (Liquidity Facility Citibank NA) (b)(d)(e) | 4,000,000 | 4,000,000 | |
TOTAL OHIO | 63,750,000 | ||
TOTAL TENDER OPTION BOND (Cost $66,450,000) | 66,450,000 | ||
Investment Company - 14.6% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.72% (f)(g) (Cost $21,737,049) | 21,733,176 | 21,737,049 | |
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $148,852,049) | 148,852,049 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (140,210) |
NET ASSETS - 100.0% | 148,711,839 |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Provides evidence of ownership in one or more underlying municipal bonds. |
(e) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(f) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 3.72% | 15,525,793 | 95,327,999 | 89,117,000 | 214,315 | 257 | - | 21,737,049 | 0.9% |
Total | 15,525,793 | 95,327,999 | 89,117,000 | 214,315 | 257 | - | 21,737,049 | |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $127,115,000) | $127,115,000 | |||
Fidelity Central Funds (cost $21,737,049) | 21,737,049 | |||
Total Investment in Securities (cost $148,852,049) | $ | 148,852,049 | ||
Interest receivable | 538,838 | |||
Distributions receivable from Fidelity Central Funds | 57,389 | |||
Prepaid expenses | 71 | |||
Total assets | 149,448,347 | |||
Liabilities | ||||
Payable to custodian bank | 563,119 | |||
Payable for fund shares redeemed | 30,274 | |||
Distributions payable | 22,840 | |||
Accrued management fee | 44,063 | |||
Other affiliated payables | 19,299 | |||
Other payables and accrued expenses | 56,913 | |||
Total Liabilities | 736,508 | |||
Net Assets | $ | 148,711,839 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 148,740,377 | ||
Total accumulated earnings (loss) | (28,538) | |||
Net Assets | $ | 148,711,839 | ||
Net Asset Value , offering price and redemption price per share ($148,711,839 ÷ 148,558,571 shares) | $ | 1.00 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 1,818,182 | ||
Income from Fidelity Central Funds | 214,204 | |||
Total Income | 2,032,386 | |||
Expenses | ||||
Management fee | $ | 603,216 | ||
Transfer agent fees | 237,969 | |||
Accounting fees and expenses | 27,050 | |||
Custodian fees and expenses | 2,165 | |||
Independent trustees' fees and expenses | 565 | |||
Registration fees | 22,180 | |||
Audit | 40,131 | |||
Legal | 8,680 | |||
Miscellaneous | 25,192 | |||
Total expenses before reductions | 967,148 | |||
Expense reductions | (157,879) | |||
Total expenses after reductions | 809,269 | |||
Net Investment income (loss) | 1,223,117 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (20,776) | |||
Fidelity Central Funds | 257 | |||
Capital gain distributions from Fidelity Central Funds | 111 | |||
Total net realized gain (loss) | (20,408) | |||
Net increase in net assets resulting from operations | $ | 1,202,709 |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,223,117 | $ | 19,729 |
Net realized gain (loss) | (20,408) | 37,277 | ||
Net increase in net assets resulting from operations | 1,202,709 | 57,006 | ||
Distributions to shareholders | (1,372,278) | (28,814) | ||
Share transactions | ||||
Proceeds from sales of shares | 24,014,270 | 11,480,697 | ||
Reinvestment of distributions | 1,292,908 | 27,621 | ||
Cost of shares redeemed | (61,081,966) | (36,694,265) | ||
Net increase (decrease) in net assets and shares resulting from share transactions | (35,774,788) | (25,185,947) | ||
Total increase (decrease) in net assets | (35,944,357) | (25,157,755) | ||
Net Assets | ||||
Beginning of period | 184,656,196 | 209,813,951 | ||
End of period | $ | 148,711,839 | $ | 184,656,196 |
Other Information | ||||
Shares | ||||
Sold | 24,014,270 | 11,480,697 | ||
Issued in reinvestment of distributions | 1,292,908 | 27,621 | ||
Redeemed | (61,081,966) | (36,694,265) | ||
Net increase (decrease) | (35,774,788) | (25,185,947) | ||
Fidelity® Ohio Municipal Money Market Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A | .007 | - B | .003 | .011 | .010 | |||||
Net realized and unrealized gain (loss) | .001 C | - B | - | .001 | - B | |||||
Total from investment operations | .008 | - B | .003 | .012 | .010 | |||||
Distributions from net investment income | (.008) | - B | (.003) | (.011) | (.010) | |||||
Distributions from net realized gain | (.001) | - B | - | (.001) | - | |||||
Total distributions | (.008) D | - B | (.003) | (.012) | (.010) | |||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Total Return E | .85% | .02% | .32% | 1.16% | .98% | |||||
Ratios to Average Net Assets A,F,G | ||||||||||
Expenses before reductions | .56% | .53% | .53% | .53% | .53% | |||||
Expenses net of fee waivers, if any | .47% | .10% | .38% | .53% | .53% | |||||
Expenses net of all reductions | .47% | .10% | .38% | .53% | .53% | |||||
Net investment income (loss) | .71% | .01% | .33% | 1.08% | .96% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 148,712 | $ | 184,656 | $ | 209,814 | $ | 239,940 | $ | 298,736 |
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% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Ohio Municipal Income Fund. | $535,658,638 | $2,677,616 | $(31,684,867) | $(29,007,251) |
Fidelity Ohio Municipal Money Market Fund | 148,852,049 | - | - | - |
Undistributed tax-exempt income | Capital loss carryforward | Net unrealized appreciation (depreciation) on securities and other investments | |
Fidelity Ohio Municipal Income Fund. | $86,359 | $(3,660,531) | $(29,007,251) |
Fidelity Ohio Municipal Money Market Fund | - | (20,408) | - |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Ohio Municipal Income Fund. | $(1,493,502) | $(2,167,029) | $ (3,660,531) |
Fidelity Ohio Municipal Money Market Fund | (20,408) | - | (20,408) |
December 31, 2022 | |||||
Tax-Exempt Income | Ordinary Income | Long-term Capital Gains | Tax Return of Capital | Total | |
Fidelity Ohio Municipal Income Fund. | $12,952,540 | $- | $- | $- | $12,952,540 |
Fidelity Ohio Municipal Money Market Fund | 1,231,041 | 141,237 | - | - | 1,372,278 |
December 31, 2021 | |||
Tax-Exempt Income | Long-term Capital Gains | Total | |
Fidelity Ohio Municipal Income Fund. | $14,473,072 | $346,556 | $14,819,628 |
Fidelity Ohio Municipal Money Market Fund | 19,535 | 9,279 | 28,814 |
Purchases ($) | Sales ($) | |
Fidelity Ohio Municipal Income Fund | 83,227,379 | 249,693,983 |
Individual Rate | Group Rate | Total | |
Fidelity Ohio Municipal Income Fund | .25% | .10% | .35% |
Fidelity Ohio Municipal Money Market Fund | .25% | .10% | .35% |
Fidelity Ohio Municipal Income Fund | .10% |
Fidelity Ohio Municipal Money Market Fund | .14% |
% of Average Net Assets | |
Fidelity Ohio Municipal Income Fund | .02 |
Fidelity Ohio Municipal Money Market Fund | .02 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Ohio Municipal Income Fund | - | - | - |
Fidelity Ohio Municipal Money Market Fund | 9,380,000 | 3,200,000 | - |
Amount | |
Fidelity Ohio Municipal Income Fund | $1,089 |
Custodian credits | |
Fidelity Ohio Municipal Income Fund . | $7,363 |
Amount | |
Fidelity Ohio Municipal Income Fund | $10,971 |
Fidelity Ohio Municipal Money Market Fund | 3,126 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Ohio Municipal Income Fund | .49% | |||||||||
Actual | $ 1,000 | $ 1,004.30 | $ 2.48 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.74 | $ 2.50 | |||||||
Fidelity® Ohio Municipal Money Market Fund | .57% | |||||||||
Actual | $ 1,000 | $ 1,008.00 | $ 2.88 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.33 | $ 2.91 | |||||||
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Pennsylvania Municipal Income Fund | -9.66% | 0.92% | 2.00% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Pennsylvania Municipal Income Fund on December 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
Revenue Sources (% of Fund's net assets) | ||
Health Care | 28.7% | |
Transportation | 20.6% | |
Education | 16.2% | |
General Obligations | 13.9% | |
Water & Sewer | 5.4% | |
Others* (Individually Less Than 5%) | 15.2% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 93.7% | |||
Principal Amount (a) | Value ($) | ||
Guam - 0.2% | |||
Guam Int'l. Arpt. Auth. Rev. Series 2013 C: | |||
6.25% 10/1/34 (b) | 425,000 | 433,975 | |
6.25% 10/1/34 (Pre-Refunded to 10/1/23 @ 100) (b) | 275,000 | 280,807 | |
TOTAL GUAM | 714,782 | ||
Pennsylvania - 91.3% | |||
Allegheny County Arpt. Auth. Rev. Series 2021 A, 5% 1/1/51 (b) | 12,000,000 | 12,120,019 | |
Allegheny County Higher Ed. Bldg. Auth. Univ. Rev.: | |||
Series 2017, 5% 10/15/47 | 1,660,000 | 1,551,661 | |
Series 2018: | |||
5% 3/1/33 | 1,570,000 | 1,690,475 | |
5% 3/1/34 | 2,250,000 | 2,410,090 | |
Series 2022 A: | |||
5% 3/1/24 | 500,000 | 509,782 | |
5% 3/1/25 | 500,000 | 521,146 | |
5% 3/1/27 | 1,740,000 | 1,863,972 | |
5% 3/1/31 | 1,105,000 | 1,235,336 | |
5% 3/1/34 | 645,000 | 719,190 | |
Allegheny County Indl. Dev. Auth. Rev. Series 2021, 4.25% 12/1/50 | 3,000,000 | 2,057,316 | |
Allegheny County Sanitation Auth. Swr. Rev. Series 2018, 5% 6/1/43 | 4,785,000 | 5,054,073 | |
Bucks County Indl. Dev. Auth. Hosp. Rev. Series 2021: | |||
5% 7/1/41 | 2,500,000 | 2,350,445 | |
5% 7/1/54 | 4,500,000 | 3,978,702 | |
Butler County Hosp. Auth. Hosp. Rev. (Butler Health Sys. Proj.) Series 2015 A: | |||
5% 7/1/26 | 500,000 | 516,501 | |
5% 7/1/27 | 490,000 | 504,919 | |
5% 7/1/28 | 540,000 | 555,081 | |
5% 7/1/29 | 710,000 | 728,034 | |
5% 7/1/30 | 685,000 | 700,656 | |
5% 7/1/35 | 1,885,000 | 1,902,416 | |
5% 7/1/39 | 6,675,000 | 6,531,180 | |
Cap. Region Wtr. Wtr. Rev. Series 2018: | |||
5% 7/15/30 | 1,500,000 | 1,653,686 | |
5% 7/15/31 | 1,250,000 | 1,376,473 | |
Centre County Pennsylvania Hosp. Auth. Rev. (Mount Nittany Med. Ctr. Proj.): | |||
Series 2016 A: | |||
4% 11/15/32 | 350,000 | 353,648 | |
4% 11/15/34 | 250,000 | 250,842 | |
4% 11/15/35 | 200,000 | 200,075 | |
5% 11/15/28 | 840,000 | 876,453 | |
5% 11/15/29 | 1,625,000 | 1,690,677 | |
5% 11/15/30 | 685,000 | 710,682 | |
Series 2016 B: | |||
4% 11/15/40 | 600,000 | 578,735 | |
4% 11/15/47 | 3,605,000 | 3,345,678 | |
Series 2018 A: | |||
5% 11/15/26 | 1,140,000 | 1,221,039 | |
5% 11/15/27 | 225,000 | 242,136 | |
5% 11/15/28 | 200,000 | 214,268 | |
5% 11/15/29 | 200,000 | 213,276 | |
Chartiers Valley School District Series 2021 A, 3% 10/15/49 | 4,000,000 | 2,957,056 | |
Chester County Health & Ed. Facilities Auth. Health Sys. Rev. Series 2017 A, 5% 10/1/35 | 2,125,000 | 2,244,895 | |
Commonwealth Fing. Auth. Rev.: | |||
Series 2019 B: | |||
5% 6/1/28 | 1,000,000 | 1,103,130 | |
5% 6/1/29 | 1,000,000 | 1,118,308 | |
5% 6/1/30 | 1,000,000 | 1,132,221 | |
5% 6/1/31 | 1,150,000 | 1,322,007 | |
Series 2020 A, 5% 6/1/32 | 3,500,000 | 3,904,006 | |
Cumberland County Muni. Auth. Rev. (Dickinson College Proj.) Series 2016: | |||
5% 5/1/30 | 1,000,000 | 1,057,531 | |
5% 5/1/31 | 500,000 | 528,118 | |
5% 5/1/32 | 750,000 | 790,722 | |
5% 5/1/33 | 2,210,000 | 2,329,281 | |
5% 5/1/34 | 1,000,000 | 1,053,006 | |
Dallas Area Muni. Auth. Univ. Rev. (Misericordia Univ. Proj.) Series 2019: | |||
5% 5/1/39 | 1,100,000 | 1,063,454 | |
5% 5/1/48 | 4,000,000 | 3,721,738 | |
Dauphin County Gen. Auth. (Pinnacle Health Sys. Proj.) Series 2016 A: | |||
5% 6/1/34 | 1,275,000 | 1,323,871 | |
5% 6/1/35 | 1,000,000 | 1,034,630 | |
5% 6/1/36 | 625,000 | 644,722 | |
Delaware County Auth. Rev.: | |||
(Cabrini College) Series 2017, 5% 7/1/47 | 2,000,000 | 1,840,072 | |
Series 2017, 5% 7/1/25 | 1,000,000 | 1,005,654 | |
Doylestown Hosp. Auth. Hosp. Rev.: | |||
Series 2016 A, 5% 7/1/46 | 3,500,000 | 2,934,472 | |
Series 2019, 4% 7/1/45 | 1,350,000 | 979,120 | |
Dubois Hosp. Auth. Hosp. Rev.: | |||
(Penn Highlands Healthcare Proj.) Series 2018, 5% 7/15/25 | 200,000 | 207,382 | |
Series 2020: | |||
4% 7/15/45 | 1,520,000 | 1,335,595 | |
5% 7/15/31 | 1,030,000 | 1,093,192 | |
5% 7/15/34 | 1,000,000 | 1,052,509 | |
5% 7/15/36 | 1,400,000 | 1,453,450 | |
5% 7/15/39 | 1,160,000 | 1,183,771 | |
Fox Chapel Area School District Series 2013, 5% 8/1/34 | 1,000,000 | 1,001,396 | |
Geisinger Auth. Health Sys. Rev.: | |||
Series 2014 A, 4% 6/1/41 | 2,000,000 | 1,869,678 | |
Series 2017 A2, 5% 2/15/39 | 1,880,000 | 1,935,047 | |
Indiana County Hosp. Auth. Series 2014 A, 6% 6/1/39 (Pre-Refunded to 6/1/23 @ 100) | 1,625,000 | 1,642,312 | |
Lackawanna County Indl. Dev. Auth. Rev. (Univ. of Scranton Proj.) Series 2017: | |||
5% 11/1/24 | 590,000 | 608,650 | |
5% 11/1/25 | 665,000 | 697,018 | |
5% 11/1/27 | 1,105,000 | 1,189,053 | |
Lancaster County Hosp. Auth. Health Ctr. Rev. Series 2016: | |||
5% 8/15/31 | 1,000,000 | 1,076,729 | |
5% 8/15/33 | 1,000,000 | 1,068,321 | |
5% 8/15/34 | 1,000,000 | 1,063,264 | |
5% 8/15/36 | 1,000,000 | 1,054,477 | |
Lehigh County Gen. Purp. Auth. Rev.: | |||
(Muhlenberg College Proj.) Series 2017, 5% 2/1/39 | 4,010,000 | 4,076,876 | |
Series 2021 A, 4% 11/1/51 | 4,000,000 | 3,281,888 | |
Lehigh County Gen. Purp. Hosp. Rev. Series 2019 A: | |||
4% 7/1/49 | 5,000,000 | 4,355,861 | |
5% 7/1/36 | 2,905,000 | 3,056,832 | |
5% 7/1/44 | 5,000,000 | 5,069,840 | |
Monroe County Hosp. Auth. Rev. Series 2016, 5% 7/1/33 | 3,675,000 | 3,790,759 | |
Montgomery County Higher Ed. & Health Auth. Rev.: | |||
Series 2014 A: | |||
5% 10/1/23 | 1,305,000 | 1,314,984 | |
5% 10/1/24 | 335,000 | 340,537 | |
5% 10/1/25 | 750,000 | 755,810 | |
5% 10/1/26 | 1,000,000 | 1,007,141 | |
5% 10/1/27 | 1,000,000 | 1,007,035 | |
Series 2016 A, 5% 10/1/40 | 4,000,000 | 3,869,188 | |
Series 2018 A, 5% 9/1/26 | 1,500,000 | 1,589,043 | |
Series 2019: | |||
4% 9/1/34 | 2,500,000 | 2,479,469 | |
4% 9/1/35 | 1,400,000 | 1,372,461 | |
4% 9/1/36 | 1,200,000 | 1,164,510 | |
4% 9/1/37 | 1,000,000 | 965,325 | |
Montgomery County Indl. Dev. Auth.: | |||
Series 2015 A, 5.25% 1/15/36 (Pre-Refunded to 1/15/25 @ 100) | 2,000,000 | 2,091,489 | |
Series 2017: | |||
5% 12/1/33 | 2,150,000 | 2,321,093 | |
5% 12/1/35 | 1,000,000 | 1,070,919 | |
5% 12/1/36 | 2,670,000 | 2,850,599 | |
Northampton County Gen. Purp. Auth. Hosp. Rev. (St. Luke's Univ. Health Network Proj.) Series 2018 A: | |||
4% 8/15/48 | 4,500,000 | 4,109,787 | |
5% 8/15/43 | 2,000,000 | 2,042,264 | |
5% 8/15/48 | 2,500,000 | 2,548,574 | |
Northampton County Gen. Purp. College Rev. (Lafayette College Proj.) Series 2017, 5% 11/1/47 | 2,170,000 | 2,250,343 | |
Pennsylvania Ctfs. Prtn. Series 2018 A: | |||
5% 7/1/28 | 400,000 | 439,859 | |
5% 7/1/29 | 300,000 | 329,216 | |
5% 7/1/30 | 375,000 | 412,324 | |
5% 7/1/31 | 425,000 | 467,669 | |
Pennsylvania Gen. Oblig.: | |||
Series 2020, 2% 5/1/39 | 500,000 | 353,236 | |
Series 2021: | |||
2% 5/15/37 | 1,060,000 | 782,534 | |
2% 5/15/38 | 4,825,000 | 3,478,818 | |
Pennsylvania Higher Edl. Facilities Auth. Rev.: | |||
(Drexel Univ. Proj.) Series 2016, 5% 5/1/35 | 2,000,000 | 2,077,071 | |
Series 2016, 5% 5/1/33 | 2,200,000 | 2,298,057 | |
Series 2019 A: | |||
4% 3/1/37 | 1,150,000 | 1,125,424 | |
5% 3/1/36 | 1,000,000 | 1,068,084 | |
5% 3/1/38 | 1,055,000 | 1,110,321 | |
5% 3/1/39 | 1,000,000 | 1,045,939 | |
Series 2019: | |||
4% 12/1/44 | 1,000,000 | 973,272 | |
4% 12/1/48 | 1,000,000 | 959,065 | |
Pennsylvania Hsg. Fin. Agcy.: | |||
Series 2019 130A, 4% 10/1/49 | 1,295,000 | 1,294,282 | |
Series 2019 131, 3.5% 4/1/49 | 3,390,000 | 3,353,758 | |
Series 2020 13 2A, 3.5% 4/1/51 | 1,600,000 | 1,585,596 | |
Series 2020 133: | |||
5% 10/1/23 | 400,000 | 405,113 | |
5% 10/1/24 | 850,000 | 876,927 | |
5% 10/1/27 | 650,000 | 706,702 | |
5% 10/1/28 | 950,000 | 1,046,061 | |
5% 4/1/29 | 100,000 | 110,000 | |
5% 10/1/29 | 450,000 | 498,119 | |
Series 2021 134B: | |||
5% 4/1/24 (b) | 1,255,000 | 1,274,589 | |
5% 10/1/24 (b) | 1,000,000 | 1,023,132 | |
5% 10/1/25 (b) | 370,000 | 384,190 | |
5% 4/1/26 (b) | 995,000 | 1,040,259 | |
5% 10/1/26 (b) | 1,500,000 | 1,577,942 | |
Series 2021 137: | |||
5% 4/1/24 | 225,000 | 230,164 | |
5% 10/1/24 | 265,000 | 273,851 | |
5% 4/1/25 | 200,000 | 208,358 | |
5% 10/1/25 | 220,000 | 231,380 | |
5% 4/1/26 | 240,000 | 253,937 | |
5% 10/1/26 | 280,000 | 298,599 | |
5% 4/1/27 | 225,000 | 240,863 | |
5% 10/1/27 | 225,000 | 242,563 | |
5% 4/1/28 | 250,000 | 270,749 | |
5% 10/1/28 | 260,000 | 283,430 | |
5% 4/1/29 | 310,000 | 338,252 | |
5% 10/1/29 | 365,000 | 400,551 | |
Pennsylvania Pub. School Bldg. Auth. School Rev. Series 2014 B2: | |||
5% 12/1/24 | 630,000 | 654,294 | |
5% 12/1/25 | 335,000 | 348,298 | |
5% 12/1/26 | 645,000 | 670,482 | |
5% 12/1/27 | 360,000 | 373,746 | |
Pennsylvania Tpk. Commission Tpk. Rev.: | |||
(Sub Lien Proj.) Series 2017 B-1, 5% 6/1/34 | 5,000,000 | 5,270,423 | |
Series 2013 A2: | |||
5% 12/1/28 | 500,000 | 537,078 | |
5% 12/1/38 | 2,500,000 | 2,610,371 | |
Series 2014 A2, 0% 12/1/40 (c) | 5,500,000 | 5,368,841 | |
Series 2017 A1: | |||
5% 12/1/31 | 2,000,000 | 2,186,454 | |
5% 12/1/33 | 1,500,000 | 1,633,357 | |
Series 2018 A2, 5% 12/1/43 | 5,000,000 | 5,231,690 | |
Series 2019 A, 5% 12/1/37 | 5,815,000 | 6,119,241 | |
Series 2020 B, 5% 12/1/50 | 5,000,000 | 5,238,867 | |
Series 2021 A: | |||
4% 12/1/44 | 4,000,000 | 3,731,692 | |
4% 12/1/45 | 4,000,000 | 3,706,528 | |
4% 12/1/50 | 2,000,000 | 1,785,586 | |
Series 2021 B: | |||
4% 12/1/40 | 1,000,000 | 969,380 | |
4% 12/1/41 | 1,000,000 | 959,951 | |
4% 12/1/42 | 1,500,000 | 1,432,261 | |
5% 12/1/46 | 2,000,000 | 2,110,868 | |
Philadelphia Arpt. Rev.: | |||
Series 2015 A, 5% 6/15/23 (b) | 200,000 | 201,197 | |
Series 2017 A, 5% 7/1/42 | 350,000 | 359,035 | |
Series 2017 B: | |||
5% 7/1/31 (b) | 1,000,000 | 1,045,376 | |
5% 7/1/33 (b) | 2,250,000 | 2,344,115 | |
5% 7/1/37 (b) | 5,065,000 | 5,193,562 | |
5% 7/1/42 (b) | 4,000,000 | 4,054,390 | |
5% 7/1/47 (b) | 3,035,000 | 2,995,257 | |
Philadelphia Auth. for Indl. Dev.: | |||
Series 2016, 5% 4/1/28 | 275,000 | 287,223 | |
Series 2017, 5% 11/1/47 | 5,000,000 | 5,029,742 | |
Series 2020 A, 4% 11/1/45 | 3,825,000 | 3,418,699 | |
Series 2020 C: | |||
4% 11/1/35 | 1,750,000 | 1,722,320 | |
4% 11/1/36 | 1,500,000 | 1,462,511 | |
4% 11/1/37 | 1,255,000 | 1,212,461 | |
4% 11/1/38 | 1,000,000 | 949,354 | |
Philadelphia Gas Works Rev.: | |||
Series 16 A, 5% 8/1/50 (Assured Guaranty Muni. Corp. Insured) | 8,835,000 | 9,335,683 | |
Series 2015 13: | |||
5% 8/1/29 | 2,000,000 | 2,089,245 | |
5% 8/1/30 | 1,500,000 | 1,563,535 | |
5% 8/1/31 | 1,100,000 | 1,143,279 | |
Series 2016 14: | |||
5% 10/1/33 | 1,500,000 | 1,569,363 | |
5% 10/1/34 | 500,000 | 522,943 | |
Philadelphia Gen. Oblig.: | |||
Series 2017 A, 5% 8/1/30 | 1,500,000 | 1,617,533 | |
Series 2019 B: | |||
5% 2/1/38 | 3,000,000 | 3,188,064 | |
5% 2/1/39 | 7,600,000 | 8,059,675 | |
Philadelphia Redev. Auth. Rev. Series 2015 A, 5% 4/15/29 | 3,000,000 | 3,133,757 | |
Philadelphia School District: | |||
Series 2018 A: | |||
5% 9/1/29 | 1,250,000 | 1,364,799 | |
5% 9/1/30 | 1,000,000 | 1,091,498 | |
5% 9/1/33 | 1,000,000 | 1,085,288 | |
Series 2019 A: | |||
4% 9/1/37 | 2,100,000 | 2,046,047 | |
4% 9/1/38 | 2,300,000 | 2,223,019 | |
4% 9/1/39 | 2,000,000 | 1,881,866 | |
Philadelphia Wtr. & Wastewtr. Rev.: | |||
Series 2015 B, 5% 7/1/30 | 3,500,000 | 3,673,164 | |
Series 2020, 5% 10/1/40 | 3,195,000 | 3,444,183 | |
Pittsburgh & Allegheny County Parking Sys. Series 2017: | |||
5% 12/15/32 | 500,000 | 538,129 | |
5% 12/15/33 | 500,000 | 536,884 | |
Pittsburgh Gen. Oblig. Series 2014, 5% 9/1/23 (Build America Mutual Assurance Insured) | 575,000 | 582,777 | |
Pittsburgh Wtr. & Swr. Auth. Wtr. & Swr. Sys. Rev.: | |||
Series 2019 A, 5% 9/1/44 (Assured Guaranty Muni. Corp. Insured) | 3,600,000 | 3,813,312 | |
Series 2019 B: | |||
4% 9/1/34 (Assured Guaranty Muni. Corp. Insured) | 2,000,000 | 2,047,839 | |
4% 9/1/35 (Assured Guaranty Muni. Corp. Insured) | 400,000 | 404,633 | |
Reading School District Series 2017: | |||
5% 3/1/35 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,055,701 | |
5% 3/1/36 (Assured Guaranty Muni. Corp. Insured) | 1,050,000 | 1,101,261 | |
Saint Mary Hosp. Auth. Health Sys. Rev. (Trinity Health Proj.) Series 2012 B, 5% 11/15/26 | 1,000,000 | 1,076,762 | |
Southcentral Pennsylvania Gen. Auth. Rev. Series 2015: | |||
4% 12/1/30 | 1,040,000 | 1,060,039 | |
5% 12/1/27 | 1,480,000 | 1,549,517 | |
5% 12/1/29 | 1,000,000 | 1,041,015 | |
Susquehanna Area Reg'l. Arp Auth. Series 2017: | |||
5% 1/1/35 (b) | 1,000,000 | 1,038,065 | |
5% 1/1/38 (b) | 1,125,000 | 1,152,469 | |
Union County Hosp. Auth. Rev. Series 2018 B, 5% 8/1/48 | 6,000,000 | 6,050,711 | |
West Mifflin Area School District Series 2016: | |||
5% 4/1/24 (Assured Guaranty Muni. Corp. Insured) | 1,250,000 | 1,278,690 | |
5% 4/1/26 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,064,431 | |
5% 4/1/28 (Assured Guaranty Muni. Corp. Insured) | 1,390,000 | 1,490,972 | |
Westmoreland County Indl. Dev. Auth. (Excela Health Proj.) Series 2020 A: | |||
4% 7/1/23 | 1,125,000 | 1,125,682 | |
4% 7/1/26 | 1,000,000 | 1,007,355 | |
4% 7/1/37 | 1,400,000 | 1,274,051 | |
5% 7/1/27 | 200,000 | 209,746 | |
5% 7/1/28 | 1,130,000 | 1,192,956 | |
5% 7/1/29 | 500,000 | 530,689 | |
5% 7/1/30 | 1,000,000 | 1,069,082 | |
TOTAL PENNSYLVANIA | 371,741,762 | ||
Pennsylvania, New Jersey - 1.2% | |||
Delaware River Port Auth. Pennsylvania & New Jersey Rev. Series 2018 A: | |||
5% 1/1/37 | 1,000,000 | 1,079,805 | |
5% 1/1/38 | 1,300,000 | 1,399,550 | |
5% 1/1/39 | 1,000,000 | 1,071,726 | |
5% 1/1/40 | 1,100,000 | 1,174,655 | |
TOTAL PENNSYLVANIA, NEW JERSEY | 4,725,736 | ||
Puerto Rico - 1.0% | |||
Puerto Rico Commonwealth Aqueduct & Swr. Auth. Series 2021 B, 5% 7/1/37 (d) | 1,155,000 | 1,090,880 | |
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 1,225,367 | 662,385 | |
5.625% 7/1/27 | 145,000 | 147,736 | |
5.625% 7/1/29 | 440,000 | 450,214 | |
5.75% 7/1/31 | 1,045,000 | 1,080,497 | |
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev. Series 2018 A1, 0% 7/1/31 | 1,155,000 | 752,392 | |
TOTAL PUERTO RICO | 4,184,104 | ||
TOTAL MUNICIPAL BONDS (Cost $406,312,789) | 381,366,384 | ||
Municipal Notes - 5.2% | |||
Principal Amount (a) | Value ($) | ||
Pennsylvania - 5.2% | |||
Delaware County Indl. Dev. Auth. Arpt. Facilities Rev. (United Parcel Svc. Proj.) Series 2015, 3.41% 1/3/23, VRDN (e) | 17,685,000 | 17,684,999 | |
Southcentral Pennsylvania Gen. Auth. Rev. Series 2019, 3.37% 1/3/23 (Liquidity Facility Bank of America NA), VRDN (e) | 3,600,000 | 3,600,000 | |
TOTAL MUNICIPAL NOTES (Cost $21,285,005) | 21,284,999 | ||
TOTAL INVESTMENT IN SECURITIES - 98.9% (Cost $427,597,794) | 402,651,383 |
NET OTHER ASSETS (LIABILITIES) - 1.1% | 4,371,090 |
NET ASSETS - 100.0% | 407,022,473 |
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) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(c) | 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. |
(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 $1,090,880 or 0.3% of net assets. |
(e) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 402,651,383 | - | 402,651,383 | - |
Total Investments in Securities: | 402,651,383 | - | 402,651,383 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $427,597,794): | $ | 402,651,383 | ||
Cash | 3,760,968 | |||
Receivable for fund shares sold | 572,132 | |||
Interest receivable | 5,339,331 | |||
Prepaid expenses | 441 | |||
Other receivables | 1,225 | |||
Total assets | 412,325,480 | |||
Liabilities | ||||
Payable for fund shares redeemed | $4,710,201 | |||
Distributions payable | 380,107 | |||
Accrued management fee | 121,670 | |||
Other affiliated payables | 43,019 | |||
Other payables and accrued expenses | 48,010 | |||
Total Liabilities | 5,303,007 | |||
Net Assets | $ | 407,022,473 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 433,873,081 | ||
Total accumulated earnings (loss) | (26,850,608) | |||
Net Assets | $ | 407,022,473 | ||
Net Asset Value , offering price and redemption price per share ($407,022,473 ÷ 39,823,506 shares) | $ | 10.22 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 13,166,434 | ||
Expenses | ||||
Management fee | $ | 1,580,201 | ||
Transfer agent fees | 451,310 | |||
Accounting fees and expenses | 116,968 | |||
Custodian fees and expenses | 5,979 | |||
Independent trustees' fees and expenses | 1,490 | |||
Registration fees | 25,669 | |||
Audit | 52,492 | |||
Legal | 7,254 | |||
Miscellaneous | 2,223 | |||
Total expenses before reductions | 2,243,586 | |||
Expense reductions | (14,343) | |||
Total expenses after reductions | 2,229,243 | |||
Net Investment income (loss) | 10,937,191 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (2,131,805) | |||
Total net realized gain (loss) | (2,131,805) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (59,341,779) | |||
Net gain (loss) | (61,473,584) | |||
Net increase (decrease) in net assets resulting from operations | $ | (50,536,393) |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 10,937,191 | $ | 11,924,047 |
Net realized gain (loss) | (2,131,805) | 417,639 | ||
Change in net unrealized appreciation (depreciation) | (59,341,779) | 77,355 | ||
Net increase (decrease) in net assets resulting from operations | (50,536,393) | 12,419,041 | ||
Distributions to shareholders | (10,893,254) | (12,540,010) | ||
Share transactions | ||||
Proceeds from sales of shares | 209,068,548 | 97,699,349 | ||
Reinvestment of distributions | 6,861,043 | 7,886,844 | ||
Cost of shares redeemed | (302,424,436) | (86,105,495) | ||
Net increase (decrease) in net assets resulting from share transactions | (86,494,845) | 19,480,698 | ||
Total increase (decrease) in net assets | (147,924,492) | 19,359,729 | ||
Net Assets | ||||
Beginning of period | 554,946,965 | 535,587,236 | ||
End of period | $ | 407,022,473 | $ | 554,946,965 |
Other Information | ||||
Shares | ||||
Sold | 20,229,877 | 8,417,034 | ||
Issued in reinvestment of distributions | 655,071 | 679,894 | ||
Redeemed | (28,961,466) | (7,423,996) | ||
Net increase (decrease) | (8,076,518) | 1,672,932 | ||
Fidelity® Pennsylvania Municipal Income Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 11.59 | $ | 11.59 | $ | 11.39 | $ | 10.92 | $ | 11.18 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .255 | .251 | .275 | .310 | .314 | |||||
Net realized and unrealized gain (loss) | (1.372) | .013 | .209 | .523 | (.226) | |||||
Total from investment operations | (1.117) | .264 | .484 | .833 | .088 | |||||
Distributions from net investment income | (.253) | (.251) | (.272) | (.307) | (.314) | |||||
Distributions from net realized gain | - | (.013) | (.012) | (.056) | (.034) | |||||
Total distributions | (.253) | (.264) | (.284) | (.363) | (.348) | |||||
Net asset value, end of period | $ | 10.22 | $ | 11.59 | $ | 11.59 | $ | 11.39 | $ | 10.92 |
Total Return C | (9.66)% | 2.30% | 4.32% | 7.71% | .84% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .49% | .48% | .49% | .48% | .48% | |||||
Expenses net of fee waivers, if any | .49% | .48% | .49% | .48% | .48% | |||||
Expenses net of all reductions | .49% | .48% | .48% | .48% | .48% | |||||
Net investment income (loss) | 2.41% | 2.16% | 2.42% | 2.74% | 2.88% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 407,022 | $ | 554,947 | $ | 535,587 | $ | 516,717 | $ | 452,519 |
Portfolio turnover rate F | 7% | 5% | 17% | 20% | 15% |
Current 7-Day Yields | ||
Fidelity® Pennsylvania Municipal Money Market Fund | 3.24% | |
Yield refers to the income paid by the Fund over a given period. Yield for money market funds is usually for seven-day periods, as it is here, though it is expressed as an annual percentage rate. Past performance is no guarantee of future results. Yield will vary and it's possible to lose money investing in the Fund. |
Effective Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 97.6 | |
31 - 60 | 2.4 | |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940. |
Asset Allocation (% of Fund's net assets) |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Variable Rate Demand Note - 43.9% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.7% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 4.15% 1/6/23, VRDN (b)(c) | 800,000 | 800,000 | |
West Jefferson Indl. Dev. Series 2008, 3.78% 1/6/23, VRDN (b) | 200,000 | 200,000 | |
TOTAL ALABAMA | 1,000,000 | ||
Arizona - 0.2% | |||
Maricopa County Poll. Cont. Rev. Series 2009 B, 3.91% 1/6/23, VRDN (b) | 300,000 | 300,000 | |
Kansas - 0.7% | |||
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.): | |||
Series 2007 A, 3.68% 1/6/23, VRDN (b) | 100,000 | 100,000 | |
Series 2007 B, 3.68% 1/6/23, VRDN (b) | 300,000 | 300,000 | |
St. Mary's Kansas Poll. Cont. Rev. Series 1994, 3.46% 1/6/23, VRDN (b) | 500,000 | 500,000 | |
TOTAL KANSAS | 900,000 | ||
Nebraska - 0.3% | |||
Stanton County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1996, 4.15% 1/6/23, VRDN (b)(c) | 400,000 | 400,000 | |
Pennsylvania - 40.6% | |||
Allegheny County Hosp. Dev. Auth. Rev. Series 2016 A, 3.7% 1/6/23, LOC Truist Bank, VRDN (b) | 5,000,000 | 5,000,000 | |
Beaver County Indl. Dev. Auth. Series 2018 A, 3.7% 1/6/23, LOC Truist Bank, VRDN (b) | 1,910,000 | 1,910,000 | |
Chester County Health & Ed. Auth. Rev. Series 2009, 3.73% 1/6/23, LOC Manufacturers & Traders Trust Co., VRDN (b) | 2,460,000 | 2,460,000 | |
Delaware County Indl. Dev. Auth. Arpt. Facilities Rev. (United Parcel Svc. Proj.) Series 2015, 3.41% 1/3/23, VRDN (b) | 13,370,000 | 13,370,000 | |
Haverford Township School District Series 2009, 3.66% 1/6/23, LOC TD Banknorth, NA, VRDN (b) | 2,885,000 | 2,885,000 | |
Lancaster Indl. Dev. Auth. Rev.: | |||
(Mennonite Home Proj.) Series 2007, 3.73% 1/6/23, LOC Manufacturers & Traders Trust Co., VRDN (b) | 4,925,000 | 4,925,000 | |
(Willow Valley Retirement Proj.) Series 2009 B, 3.69% 1/6/23, LOC PNC Bank NA, VRDN (b) | 2,000,000 | 2,000,000 | |
Lehigh County Gen. Purp. Hosp. Rev. Series 2019 B, 3.7% 1/6/23, LOC Bank of America NA, VRDN (b) | 500,000 | 500,000 | |
Montgomery County Indl. Dev. Auth. Rev. (Foulkeways at Gwynedd Proj.) Series 2006 B, 3.7% 1/6/23, LOC Citizens Bank NA, VRDN (b) | 400,000 | 400,000 | |
Pennsylvania Higher Edl. Facilities Auth. Rev. (Univ. of Pennsylvania Health Sys. Proj.) Series 2008 A, 3.64% 1/6/23, LOC Bank of America NA, VRDN (b) | 200,000 | 200,000 | |
Philadelphia Auth. for Indl. Dev. Rev. (Spl. People in Northeast, Inc. Proj.) Series 2006, 3.75% 1/6/23, LOC Citizens Bank NA, VRDN (b) | 3,160,000 | 3,160,000 | |
Philadelphia Auth. Indl. Dev. Lease Rev. Series 2007 B2, 3.66% 1/6/23, LOC TD Banknorth, NA, VRDN (b) | 5,500,000 | 5,500,000 | |
Philadelphia Gas Works Rev. Series 2009 D, 3.66% 1/6/23, LOC TD Banknorth, NA, VRDN (b) | 600,000 | 600,000 | |
FHLMC Pennsylvania Hsg. Fin. Agcy. Multifamily Hsg. Dev. Rev. (Foxwood Manor Apts. Proj.) Series 2008 O, 3.6% 1/6/23, LOC Freddie Mac, VRDN (b) | 300,000 | 300,000 | |
FNMA Montgomery County Redev. Auth. Multi-family Hsg. Rev. (Kingswood Apts. Proj.) Series 2001 A, 3.74% 1/6/23, LOC Fannie Mae, VRDN (b) | 11,975,000 | 11,975,000 | |
TOTAL PENNSYLVANIA | 55,185,000 | ||
South Carolina - 0.1% | |||
Berkeley County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1997, 4.15% 1/6/23, VRDN (b)(c) | 100,000 | 100,000 | |
West Virginia - 1.3% | |||
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev.: | |||
(Appalachian Pwr. Co. Amos Proj.) Series 2008 B, 3.8% 1/6/23, VRDN (b)(c) | 500,000 | 500,000 | |
(Appalachian Pwr. Co.- Mountaineer Proj.) Series 2008 A, 3.78% 1/6/23, VRDN (b)(c) | 1,200,000 | 1,200,000 | |
TOTAL WEST VIRGINIA | 1,700,000 | ||
TOTAL VARIABLE RATE DEMAND NOTE (Cost $59,585,000) | 59,585,000 | ||
Tender Option Bond - 41.8% | |||
Principal Amount (a) | Value ($) | ||
Colorado - 0.5% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN Series 2022 004, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 700,000 | 700,000 | |
Connecticut - 0.2% | |||
Connecticut Gen. Oblig. Participating VRDN Series Floaters 016, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 300,000 | 300,000 | |
Florida - 0.1% | |||
Miami-Dade County Aviation Rev. Participating VRDN Series 2022 025, 3.84% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(d)(e) | 100,000 | 100,000 | |
Kentucky - 0.2% | |||
CommonSpirit Health Participating VRDN Series MIZ 90 21, 3.76% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(e) | 200,000 | 200,000 | |
Maryland - 0.4% | |||
Univ. of Maryland Med. Sys., Participating VRDN Series 2022 031, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 500,000 | 500,000 | |
Michigan - 0.4% | |||
Eastern Michigan Univ. Revs. Participating VRDN Series Floater 046, 3.86% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 500,000 | 500,000 | |
Missouri - 0.1% | |||
Kansas City Indl. Dev. Auth. Participating VRDN Series XG 03 96, 3.85% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(d)(e) | 200,000 | 200,000 | |
Ohio - 0.1% | |||
Ohio Hosp. Rev. Participating VRDN Series 002, 3.81% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 100,000 | 100,000 | |
Pennsylvania - 39.8% | |||
Allegheny County Sanitation Auth. Swr. Rev. Participating VRDN Series Floaters XM 00 82, 3.7% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 3,465,000 | 3,465,000 | |
Central Bradford Progress Auth. Rev. Participating VRDN Series XF 13 46, 3.71% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 3,845,000 | 3,845,000 | |
Commonwealth Fing. Auth. Tobacco Participating VRDN Series XX 10 80, 3.7% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 2,700,000 | 2,700,000 | |
Geisinger Auth. Health Sys. Rev. Participating VRDN: | |||
Series Floaters XF 05 43, 3.73% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 2,825,000 | 2,825,000 | |
Series Floaters YX 10 49, 3.38% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 1,885,000 | 1,885,000 | |
Series XM 08 87, 3.81% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 1,190,000 | 1,190,000 | |
Lancaster County Hosp. Auth. Health Ctr. Rev. Participating VRDN Series 16 ZF0383, 3.71% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 3,750,000 | 3,750,000 | |
Montgomery County Higher Ed. & Health Auth. Rev. Participating VRDN Series XF 28 85, 3.46% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 2,500,000 | 2,500,000 | |
Pennsylvania Econ. Dev. Participating VRDN Series XM 0048, 3.72% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(d)(e) | 299,500 | 299,500 | |
Pennsylvania Gen. Oblig. Participating VRDN Series Floaters ZM 06 50, 3.69% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 975,000 | 975,000 | |
Pennsylvania Higher Edl. Facilities Auth. Rev. Participating VRDN Series XG 02 63, 3.69% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 500,000 | 500,000 | |
Pennsylvania State Univ. Participating VRDN Series XM 08 27, 3.69% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 2,700,000 | 2,700,000 | |
Pennsylvania Tpk. Commission Registration Fee Rev. Participating VRDN Series Putters 5025, 3.7% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 3,000,000 | 3,000,000 | |
Pennsylvania Tpk. Commission Tpk. Rev. Participating VRDN: | |||
Series BC 22 018, 3.32% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 1,500,000 | 1,500,000 | |
Series XM 10 08, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 830,000 | 830,000 | |
Philadelphia Arpt. Rev. Participating VRDN Series YX 12 11, 3.71% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(d)(e) | 1,600,000 | 1,600,000 | |
Philadelphia Auth. for Indl. Dev. Participating VRDN: | |||
Series XG 02 53, 3.71% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 1,260,000 | 1,260,000 | |
Series XM 00 05, 3.69% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 4,200,000 | 4,200,000 | |
Philadelphia School District Participating VRDN Series XM 08 60, 3.69% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 1,625,000 | 1,625,000 | |
Philadelphia Wtr. & Wastewtr. Rev. Participating VRDN Series Floaters XF 07 19, 3.7% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 1,000,000 | 1,000,000 | |
Southcentral Pennsylvania Gen. Auth. Rev. Participating VRDN Series XL 01 04, 3.69% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(d)(e) | 1,300,000 | 1,300,000 | |
Southeastern Pennsylvania Trans. Auth. Rev. Participating VRDN: | |||
Series 2022 XG 04 12, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 1,400,000 | 1,400,000 | |
Series XF 30 41, 3.69% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(d)(e) | 1,400,000 | 1,400,000 | |
Series XG 04 13, 3.69% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 1,400,000 | 1,400,000 | |
Series XM 10 57, 3.71% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 1,400,000 | 1,400,000 | |
Westmoreland County Muni. Auth. Muni. Svc. Rev. Participating VRDN Series XF 10 58, 3.7% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 3,270,000 | 3,270,000 | |
Wilkes-Barre Area School District Participating VRDN Series Floaters XF 07 77, 3.7% 1/6/23 (Liquidity Facility Bank of America NA) (b)(d)(e) | 2,285,000 | 2,285,000 | |
TOTAL PENNSYLVANIA | 54,104,500 | ||
TOTAL TENDER OPTION BOND (Cost $56,704,500) | 56,704,500 | ||
Other Municipal Security - 0.7% | |||
Principal Amount (a) | Value ($) | ||
Pennsylvania - 0.7% | |||
Philadelphia Wtr. Series 2022 C, 2.45% 1/5/23, LOC The Toronto-Dominion Bank, CP (Cost $1,000,000) | 1,000,000 | 1,000,000 | |
Investment Company - 13.6% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.72% (f)(g) (Cost $18,520,875) | 18,517,547 | 18,520,875 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $135,810,375) | 135,810,375 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 3,742 |
NET ASSETS - 100.0% | 135,814,117 |
CP | - | COMMERCIAL PAPER |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Provides evidence of ownership in one or more underlying municipal bonds. |
(e) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(f) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 3.72% | 5,440,706 | 69,055,001 | 55,975,000 | 195,168 | 168 | - | 18,520,875 | 0.7% |
Total | 5,440,706 | 69,055,001 | 55,975,000 | 195,168 | 168 | - | 18,520,875 | |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $117,289,500) | $117,289,500 | |||
Fidelity Central Funds (cost $18,520,875) | 18,520,875 | |||
Total Investment in Securities (cost $135,810,375) | $ | 135,810,375 | ||
Interest receivable | 482,352 | |||
Distributions receivable from Fidelity Central Funds | 50,002 | |||
Total assets | 136,342,729 | |||
Liabilities | ||||
Payable to custodian bank | 439,595 | |||
Payable for fund shares redeemed | 14,576 | |||
Distributions payable | 16,873 | |||
Accrued management fee | 57,509 | |||
Other payables and accrued expenses | 59 | |||
Total Liabilities | 528,612 | |||
Net Assets | $ | 135,814,117 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 135,814,122 | ||
Total accumulated earnings (loss) | (5) | |||
Net Assets | $ | 135,814,117 | ||
Net Asset Value , offering price and redemption price per share ($135,814,117 ÷ 135,675,010 shares) | $ | 1.00 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 1,589,667 | ||
Income from Fidelity Central Funds | 194,994 | |||
Total Income | 1,784,661 | |||
Expenses | ||||
Management fee | $ | 756,855 | ||
Independent trustees' fees and expenses | 492 | |||
Total expenses before reductions | 757,347 | |||
Expense reductions | (112,596) | |||
Total expenses after reductions | 644,751 | |||
Net Investment income (loss) | 1,139,910 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 25,673 | |||
Fidelity Central Funds | 168 | |||
Capital gain distributions from Fidelity Central Funds | 174 | |||
Total net realized gain (loss) | 26,015 | |||
Net increase in net assets resulting from operations | $ | 1,165,925 |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,139,910 | $ | 16,968 |
Net realized gain (loss) | 26,015 | 109,575 | ||
Net increase in net assets resulting from operations | 1,165,925 | 126,543 | ||
Distributions to shareholders | (1,271,917) | (136,843) | ||
Share transactions | ||||
Proceeds from sales of shares | 15,587,716 | 26,624,972 | ||
Reinvestment of distributions | 1,204,352 | 129,646 | ||
Cost of shares redeemed | (42,793,994) | (43,810,109) | ||
Net increase (decrease) in net assets and shares resulting from share transactions | (26,001,926) | (17,055,491) | ||
Total increase (decrease) in net assets | (26,107,918) | (17,065,791) | ||
Net Assets | ||||
Beginning of period | 161,922,035 | 178,987,826 | ||
End of period | $ | 135,814,117 | $ | 161,922,035 |
Other Information | ||||
Shares | ||||
Sold | 15,587,716 | 26,624,972 | ||
Issued in reinvestment of distributions | 1,204,352 | 129,646 | ||
Redeemed | (42,793,994) | (43,810,109) | ||
Net increase (decrease) | (26,001,926) | (17,055,491) | ||
Fidelity® Pennsylvania Municipal Money Market Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A | .008 | - B | .003 | .010 | .010 | |||||
Net realized and unrealized gain (loss) | .001 | .001 | - B | .001 | - B | |||||
Total from investment operations | .009 | .001 | .003 | .011 | .010 | |||||
Distributions from net investment income | (.008) | - B | (.003) | (.010) | (.010) | |||||
Distributions from net realized gain | (.001) | (.001) | - B | - B | - | |||||
Total distributions | (.009) | (.001) | (.003) | (.011) C | (.010) | |||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Total Return D | .89% | .08% | .37% | 1.06% | .97% | |||||
Ratios to Average Net Assets A,E,F | ||||||||||
Expenses before reductions | .50% | .50% | .50% | .50% | .50% | |||||
Expenses net of fee waivers, if any | .43% | .10% | .34% | .50% | .50% | |||||
Expenses net of all reductions | .43% | .10% | .34% | .50% | .50% | |||||
Net investment income (loss) | .75% | .01% | .35% | 1.03% | .96% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 135,814 | $ | 161,922 | $ | 178,988 | $ | 207,008 | $ | 240,412 |
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% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Pennsylvania Municipal Income Fund | $427,546,411 | $ 1,691,480 | $(26,586,508) | $(24,895,028) |
Fidelity Pennsylvania Municipal Money Market Fund | 135,810,375 | 299 | (299) | - |
Undistributed tax-exempt income | Capital loss carryforward | Net unrealized appreciation (depreciation) on securities and other investments | |
Fidelity Pennsylvania Municipal Income Fund | $176,224 | $(2,131,805) | $(24,895,028) |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Pennsylvania Municipal Income Fund | $(1,841,336) | $(290,469) | $(2,131,805) |
December 31, 2022 | |||
Tax-Exempt Income | Long-term Capital Gains | Total | |
Fidelity Pennsylvania Municipal Income Fund | $10,893,254 | $- | $10,893,254 |
Fidelity Pennsylvania Municipal Money Market Fund | 1,139,915 | 132,002 | 1,271,917 |
December 31, 2021 | |||
Tax-Exempt Income | Long-term Capital Gains | Total | |
Fidelity Pennsylvania Municipal Income Fund | $11,922,733 | $617,277 | $12,540,010 |
Fidelity Pennsylvania Municipal Money Market Fund | 16,960 | 119,883 | 136,843 |
Purchases ($) | Sales ($) | |
Fidelity Pennsylvania Municipal Income Fund | 32,259,411 | 126,666,418 |
Fidelity Pennsylvania Municipal Income Fund | .10% |
% of Average Net Assets | |
Fidelity Pennsylvania Municipal Income Fund | .03 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Pennsylvania Municipal Income Fund | - | - | - |
Fidelity Pennsylvania Municipal Money Market Fund | 8,370,000 | 9,210,000 | - |
Amount | |
Fidelity Pennsylvania Municipal Income Fund | $833 |
Custodian credits | |
Fidelity Pennsylvania Municipal Income Fund | $5,979 |
Fidelity Pennsylvania Municipal Money Market Fund | 98 |
Amount | |
Fidelity Pennsylvania Municipal Income Fund | $8,364 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity® Pennsylvania Municipal Income Fund | .48% | |||||||||
Actual | $ 1,000 | $ 1,001.10 | $ 2.42 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.79 | $ 2.45 | |||||||
Fidelity® Pennsylvania Municipal Money Market Fund | .50% | |||||||||
Actual | $ 1,000 | $ 1,008.30 | $ 2.53 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.68 | $ 2.55 | |||||||
Fidelity Pennsylvania Municipal Income Fund | $0 |
Fidelity Pennsylvania Municipal Money Market Fund | $10,142 |
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Average Annual Total Returns | |||
Periods ended December 31, 2022 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity Flex® Conservative Income Municipal Bond Fund | 0.49% | 1.31% | 1.27% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Conservative Income Municipal Bond Fund, on October 12, 2017, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond 1 Year (1-2 Y) Index performed over the same period. |
Top Five States (% of Fund's net assets) | |
Texas | 11.4 |
California | 9.6 |
Illinois | 9.0 |
Georgia | 6.8 |
New York | 6.0 |
Revenue Sources (% of Fund's net assets) | ||
Synthetics | 31.3% | |
Industrial Development | 13.0% | |
Health Care | 9.0% | |
General Obligations | 8.0% | |
Transportation | 7.5% | |
Electric Utilities | 6.9% | |
Resource Recovery | 6.3% | |
Others* (Individually Less Than 5%) | 18.0% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 50.6 | |
8 - 30 | 4.4 | |
31 - 60 | 9.9 | |
61 - 90 | 1.0 | |
91 - 180 | 6.5 | |
> 180 | 27.6 | |
The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets. |
Municipal Bonds - 43.6% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.7% | |||
Black Belt Energy Gas District: | |||
Bonds Series 2018 A, 4%, tender 12/1/23 (b) | 200,000 | 200,185 | |
Series 2021 C1, 4% 12/1/23 | 100,000 | 99,899 | |
Series 2022 C1: | |||
5.25% 12/1/24 | 60,000 | 61,256 | |
5.25% 12/1/25 | 95,000 | 98,079 | |
Series 2022 E: | |||
5% 6/1/23 | 15,000 | 15,071 | |
5% 6/1/24 | 85,000 | 86,489 | |
5% 6/1/25 | 90,000 | 92,811 | |
5% 6/1/26 | 125,000 | 130,307 | |
Southeast Alabama Gas Supply District Bonds (Proj. No. 2) Series 2018 A, 4%, tender 6/1/24 (b) | 270,000 | 269,054 | |
TOTAL ALABAMA | 1,053,151 | ||
Alaska - 0.1% | |||
Alaska Int'l. Arpts. Revs. Series 2021 C, 5% 10/1/25 (c) | 100,000 | 104,181 | |
Arizona - 1.4% | |||
Bullhead City Excise Taxes Series 2021 2, 0.6% 7/1/24 | 275,000 | 261,788 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.): | |||
Series 2005, 2.4%, tender 8/14/23 (b) | 160,000 | 158,758 | |
Series 2019, 5%, tender 6/3/24 (b)(c) | 1,280,000 | 1,300,407 | |
Maricopa County Rev. Series 2016 A, 5% 1/1/23 | 100,000 | 100,000 | |
Phoenix Civic Impt. Board Arpt. Rev. Series 2017 D, 5% 7/1/24 | 225,000 | 231,996 | |
TOTAL ARIZONA | 2,052,949 | ||
California - 2.8% | |||
California Health Facilities Fing. Auth. Rev. Series 2016 A, 4% 3/1/23 | 300,000 | 300,248 | |
California Muni. Fin. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.): | |||
Series 2021 A, 3.875%, tender 4/3/23 (b)(c) | 400,000 | 399,915 | |
Series 2021 B, 2.35%, tender 1/17/23 (b)(c) | 1,300,000 | 1,299,256 | |
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.): | |||
Series 2010 A, 4.1%, tender 2/1/23 (b)(c)(d) | 300,000 | 300,023 | |
Series 2017 A2, 3.875%, tender 1/17/23 (b)(c)(d) | 400,000 | 399,988 | |
California Statewide Cmntys. Dev. Auth. Series 2021, 4% 5/15/23 | 100,000 | 100,247 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2018 A, 5% 3/1/23 | 110,000 | 110,288 | |
Long Beach Hbr. Rev. Series 2020 B, 5% 5/15/24 (c) | 150,000 | 153,515 | |
Los Angeles Dept. Arpt. Rev.: | |||
Series 2015, 5% 5/15/23 (c) | 100,000 | 100,569 | |
Series 2019 E, 4% 5/15/23 | 125,000 | 125,491 | |
Series 2022 C: | |||
5% 5/15/24 (c) | 85,000 | 86,992 | |
5% 5/15/26 (c) | 200,000 | 210,067 | |
Series A, 5% 5/15/23 (c) | 250,000 | 251,422 | |
Northern California Pwr. Agcy. Rev. Series 2019 A, 5% 8/1/23 | 100,000 | 101,209 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Series 2016 D, 5% 5/1/24 | 100,000 | 102,899 | |
San Jose Int. Arpt. Rev.: | |||
Series 2014 A, 5% 3/1/23 (Escrowed to Maturity) (c) | 100,000 | 100,310 | |
Series 2017 A, 5% 3/1/23 (Escrowed to Maturity) (c) | 100,000 | 100,310 | |
TOTAL CALIFORNIA | 4,242,749 | ||
Colorado - 0.4% | |||
Colorado Health Facilities Auth. Rev. Series 2014 E, 5% 11/15/24 | 200,000 | 205,859 | |
Colorado Health Facilities Auth. Rev. Bonds Series 2019 A, 5% 1/1/23 | 165,000 | 165,000 | |
Denver City & County Arpt. Rev. Series 2022 A, 5% 11/15/25 (c) | 165,000 | 172,557 | |
TOTAL COLORADO | 543,416 | ||
Connecticut - 1.8% | |||
Connecticut Gen. Oblig.: | |||
Series 2016 A, 5% 3/15/24 | 200,000 | 205,126 | |
Series 2020 A, 5% 1/15/23 | 145,000 | 145,084 | |
Series 2022 A, 3% 1/15/23 | 340,000 | 339,987 | |
Connecticut Health & Edl. Facilities Auth. Rev. Bonds: | |||
Series 2010 A4, 1.1%, tender 2/11/25 (b) | 510,000 | 482,275 | |
Series 2014 A, 1.1%, tender 2/7/23 (b) | 300,000 | 299,188 | |
Series 2017 C2, 5%, tender 2/1/23 (b) | 275,000 | 275,462 | |
Connecticut Hsg. Fin. Auth. Series C, 5% 11/15/23 (c) | 100,000 | 101,373 | |
Connecticut Muni. Elec. Energy Coop. Pwr. Supply Sys. Rev. Series 2013 A, 5% 1/1/23 | 115,000 | 115,000 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2012 A: | |||
5% 1/1/24 | 150,000 | 150,000 | |
5% 1/1/24 | 100,000 | 100,000 | |
Series A, 5% 5/1/23 | 325,000 | 327,148 | |
Hartford Gen. Oblig. Series 2015 C, 5% 7/15/25 (Assured Guaranty Muni. Corp. Insured) | 105,000 | 110,832 | |
TOTAL CONNECTICUT | 2,651,475 | ||
District Of Columbia - 0.5% | |||
Metropolitan Washington DC Arpts. Auth. Sys. Rev.: | |||
Series 2014 A: | |||
5% 10/1/23 (c) | 100,000 | 101,021 | |
5% 10/1/24 (c) | 110,000 | 112,919 | |
Series 2017 A, 5% 10/1/24 (c) | 100,000 | 102,654 | |
Series 2020 A, 5% 10/1/24 (c) | 400,000 | 410,616 | |
TOTAL DISTRICT OF COLUMBIA | 727,210 | ||
Florida - 1.8% | |||
Broward County Arpt. Sys. Rev.: | |||
Series 2012 P2, 5% 10/1/23 | 135,000 | 135,190 | |
Series 2017, 5% 10/1/23 (c) | 125,000 | 126,322 | |
Series 2019 B, 5% 10/1/23 (c) | 100,000 | 101,058 | |
Citizens Property Ins. Corp. Series 2015 A1, 5% 6/1/25 | 100,000 | 103,198 | |
Escambia County Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2003, 2.6% 6/1/23 | 100,000 | 99,606 | |
Florida Dev. Fin. Corp. Rev. Bonds (Brightline Florida Passenger Rail Expansion Proj.) Series 2021 A, 2.9%, tender 4/4/23 (b)(c) | 600,000 | 598,288 | |
Hillsborough County Aviation Auth. Rev. Series 2022 A, 5% 10/1/24 (c) | 200,000 | 206,336 | |
Jacksonville Spl. Rev. Series 2022 A: | |||
5% 10/1/23 | 15,000 | 15,228 | |
5% 10/1/24 | 35,000 | 36,338 | |
5% 10/1/25 | 25,000 | 26,483 | |
Lee County Arpt. Rev. Series 2021 A, 5% 10/1/24 (c) | 55,000 | 56,170 | |
Lee Memorial Health Sys. Hosp. Rev. Series 2019 A1, 5% 4/1/23 | 165,000 | 165,609 | |
Miami-Dade County Aviation Rev. Series 2016 A, 5% 10/1/23 | 230,000 | 233,364 | |
Miami-Dade County Health Facilities Auth. Hosp. Rev. (Nicklaus Children Hosp.) Series 2017, 5% 8/1/23 | 320,000 | 322,955 | |
Miami-Dade County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2018 A, 4.035%, tender 7/1/24 (b)(c) | 270,000 | 261,817 | |
Miami-Dade County School Board Ctfs. of Prtn. Series 2015 A, 5% 5/1/23 | 175,000 | 176,083 | |
Orlando & Orange County Expressway Auth. Rev. Series 2013 B, 5% 7/1/23 | 100,000 | 100,889 | |
TOTAL FLORIDA | 2,764,934 | ||
Georgia - 4.9% | |||
Atlanta Arpt. Rev. Series 2019 B, 5% 7/1/24 (c) | 100,000 | 102,490 | |
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.) Series 2009 1st, 2.75%, tender 3/15/23 (b) | 1,450,000 | 1,447,151 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2012, 2.875%, tender 8/19/25 (b) | 210,000 | 207,214 | |
Cobb County Kennestone Hosp. Auth. Rev.: | |||
(Wellstar Health Sys., Inc. Proj.) Series 2017 A, 5% 4/1/23 | 100,000 | 100,369 | |
Series 2012, 5% 4/1/23 | 100,000 | 100,369 | |
Georgia Muni. Elec. Auth. Pwr. Rev.: | |||
Series 2015 A, 5% 1/1/23 | 245,000 | 245,000 | |
Series 2019 A, 5% 1/1/23 | 450,000 | 450,000 | |
Series 2020 A: | |||
5% 1/1/23 | 100,000 | 100,000 | |
5% 1/1/24 | 145,000 | 147,330 | |
Series 2021 A, 5% 1/1/23 | 145,000 | 145,000 | |
Series GG, 5% 1/1/23 | 190,000 | 190,000 | |
Main Street Natural Gas, Inc.: | |||
Bonds: | |||
Series 2018 B, 1 month U.S. LIBOR + 0.750% 3.51%, tender 1/4/23 (b)(e) | 450,000 | 448,002 | |
Series 2018 C, 4%, tender 12/1/23 (b) | 110,000 | 109,917 | |
Series 2018 E, SIFMA Municipal Swap Index + 0.570% 4.23%, tender 1/5/23 (b)(e) | 930,000 | 926,870 | |
Series 2019 B, 4%, tender 12/2/24 (b) | 265,000 | 265,008 | |
Series 2018 A, 4% 3/1/23 | 200,000 | 200,037 | |
Series 2022 A, 4% 12/1/25 | 70,000 | 70,158 | |
Series 2022 B, 5% 6/1/26 | 1,900,000 | 1,954,868 | |
Paulding County Hosp. Auth. Rev. Series 2022 A, 5% 4/1/25 | 150,000 | 155,773 | |
TOTAL GEORGIA | 7,365,556 | ||
Guam - 0.2% | |||
Guam Pwr. Auth. Rev. Series 2022 A: | |||
5% 10/1/23 | 85,000 | 85,781 | |
5% 10/1/24 | 70,000 | 71,631 | |
5% 10/1/25 | 85,000 | 88,170 | |
TOTAL GUAM | 245,582 | ||
Idaho - 0.1% | |||
Idaho Hsg. & Fin. Assoc. Single Family Mtg. (Idaho St Garvee Proj.) Series 2017 A, 5% 7/15/23 | 100,000 | 101,051 | |
Illinois - 4.6% | |||
Champaign County Cmnty. Unit Series 2020 A, 0% 1/1/24 | 380,000 | 367,079 | |
Chicago Metropolitan Wtr. Reclamation District of Greater Chicago Series 2021 C, 5% 12/1/23 | 130,000 | 132,284 | |
Chicago Midway Arpt. Rev.: | |||
Series 2014 B, 5% 1/1/23 | 100,000 | 100,000 | |
Series 2016 A, 5% 1/1/23 (c) | 100,000 | 100,000 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2015 A, 5% 1/1/24 (c) | 450,000 | 456,130 | |
Series 2016 C, 5% 1/1/23 | 175,000 | 175,000 | |
Series 2017 A, 5% 1/1/23 | 210,000 | 210,000 | |
Series 2022 A, 5% 1/1/25 (c) | 270,000 | 277,867 | |
Chicago Park District Gen. Oblig. Series 2021 E, 4% 1/1/23 | 300,000 | 300,000 | |
Cook County Gen. Oblig.: | |||
Series 2021 B, 4% 11/15/23 | 75,000 | 75,391 | |
Series 2022 A: | |||
5% 11/15/24 | 350,000 | 361,275 | |
5% 11/15/25 | 255,000 | 268,750 | |
Illinois Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2019, 4.4%, tender 11/1/23 (b)(c) | 500,000 | 501,391 | |
Illinois Fin. Auth. Series 2022 A, 5% 10/1/23 | 200,000 | 200,730 | |
Illinois Fin. Auth. Rev.: | |||
Series 2015 A: | |||
5% 11/15/23 | 150,000 | 152,316 | |
5% 11/15/24 | 100,000 | 103,534 | |
Series 2016 C, 5% 2/15/24 | 105,000 | 107,085 | |
Series 2019, 5% 4/1/23 | 100,000 | 100,418 | |
Illinois Gen. Oblig.: | |||
Series 2013, 5% 7/1/23 | 100,000 | 100,654 | |
Series 2017 D, 5% 11/1/23 | 200,000 | 202,075 | |
Series 2021 A, 5% 3/1/23 | 70,000 | 70,149 | |
Series 2022 A, 5% 3/1/23 | 60,000 | 60,128 | |
Series 2022 B: | |||
5% 3/1/24 | 230,000 | 233,192 | |
5% 3/1/25 | 465,000 | 474,789 | |
5% 3/1/26 | 340,000 | 349,214 | |
Series 2022 D1, 5% 3/1/23 | 70,000 | 70,149 | |
Illinois Sales Tax Rev. Series 2021 A: | |||
4% 6/15/23 | 260,000 | 260,608 | |
4% 6/15/24 | 135,000 | 135,727 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev. Series 2018 A, 5% 1/1/23 | 180,000 | 180,000 | |
Railsplitter Tobacco Settlement Auth. Rev. Series 2017: | |||
5% 6/1/23 | 370,000 | 372,712 | |
5% 6/1/24 | 405,000 | 415,571 | |
TOTAL ILLINOIS | 6,914,218 | ||
Indiana - 1.6% | |||
Indiana Dev. Fin. Auth. Envir. Rev. Bonds (Fulcrum Centerpoint, LLC Proj.) Series 2022, 4.5%, tender 11/15/23 (c) | 1,500,000 | 1,499,052 | |
Indiana Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2001, 4%, tender 10/2/23 (b)(c) | 175,000 | 175,330 | |
Indiana Fin. Auth. Rev. (Butler Univ. Proj.) Series 2019, 4% 2/1/24 | 200,000 | 201,937 | |
Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Series 2017 A, 5% 1/1/23 | 100,000 | 100,000 | |
Indianapolis Local Pub. Impt. (Indianapolis Arpt. Auth. Proj.) Series 2015 I, 5% 1/1/23 (c) | 205,000 | 205,000 | |
Whiting Envir. Facilities Rev. Bonds (BP Products North America, Inc. Proj.) Series 2016 A, 5%, tender 3/1/23 (b)(c) | 200,000 | 200,261 | |
TOTAL INDIANA | 2,381,580 | ||
Kentucky - 0.8% | |||
Kenton County Arpt. Board Arpt. Rev. Series 2016, 5% 1/1/23 | 130,000 | 130,000 | |
Kentucky State Property & Buildings Commission Rev.: | |||
Series 2016, 5% 11/1/23 | 675,000 | 686,238 | |
Series 2018, 5% 5/1/23 | 65,000 | 65,411 | |
Kentucky, Inc. Pub. Energy Bonds: | |||
Series 2018 A, 4%, tender 4/1/24 (b) | 205,000 | 204,640 | |
Series 2019 A1, 4%, tender 6/1/25 (b) | 150,000 | 148,616 | |
TOTAL KENTUCKY | 1,234,905 | ||
Louisiana - 0.1% | |||
St. John Baptist Parish Rev. Bonds (Marathon Oil Corp.) Series 2017, 2%, tender 4/1/23 (b) | 100,000 | 99,382 | |
Maine - 0.4% | |||
Maine Health & Higher Edl. Facilities Auth. Rev. Series 2021 A, 5% 7/1/23 | 625,000 | 630,860 | |
Maryland - 0.1% | |||
Maryland Dept. of Trans.: | |||
Series 2022 A, 5% 12/1/24 | 25,000 | 26,092 | |
Series 2022 B, 5% 12/1/23 | 30,000 | 30,584 | |
Maryland Stadium Auth. Built to Learn Rev. Series 2022 A, 5% 6/1/24 | 120,000 | 123,366 | |
TOTAL MARYLAND | 180,042 | ||
Massachusetts - 2.4% | |||
Massachusetts Dept. of Trans. Metropolitan Hwy. Sys. Rev. Bonds Series 2019 A, 5%, tender 1/1/23 (b) | 250,000 | 250,000 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
Bonds Series S3, SIFMA Municipal Swap Index + 0.500% 4.16%, tender 1/5/23 (b)(e) | 200,000 | 199,941 | |
Series 2021 A, 5% 6/1/23 | 360,000 | 361,877 | |
Massachusetts Edl. Fing. Auth. Rev.: | |||
Series 2014 I, 5% 1/1/25 (c) | 310,000 | 318,431 | |
Series 2015 A, 5% 1/1/24 (c) | 580,000 | 588,184 | |
Series 2016, 5% 7/1/24 (c) | 15,000 | 15,334 | |
Series 2017 A, 5% 7/1/25 (c) | 80,000 | 82,788 | |
Series 2022 B: | |||
5% 7/1/24 (c) | 30,000 | 30,646 | |
5% 7/1/25 (c) | 65,000 | 67,360 | |
Massachusetts Gen. Oblig. Series 2021 B, 5% 11/1/23 | 1,195,000 | 1,215,976 | |
Massachusetts Port Auth. Rev. Series 2019 C, 5% 7/1/23 (c) | 150,000 | 151,355 | |
Massachusetts Tpk. Auth. Metropolitan Hwy. Sys. Rev.: | |||
Series 1997 A, 0% 1/1/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 115,000 | 111,220 | |
Series 1997 C, 0% 1/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 120,000 | 120,000 | |
TOTAL MASSACHUSETTS | 3,513,112 | ||
Michigan - 0.8% | |||
Lapeer Cmnty. Schools Series 2016, 5% 5/1/25 | 125,000 | 131,581 | |
Michigan Fin. Auth. Rev.: | |||
(Detroit Reg'l. Convention Facility Auth. Local Proj.) Series 2014 H1, 5% 10/1/24 | 105,000 | 106,591 | |
Series 2022: | |||
5% 4/15/25 | 160,000 | 167,422 | |
5% 4/15/26 | 265,000 | 282,610 | |
Michigan Gen. Oblig. Series 2016, 5% 3/15/23 | 100,000 | 100,413 | |
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Series 2022 A, 2.5% 6/1/25 | 70,000 | 68,884 | |
Northern Michigan Univ. Revs. Series 2021, 5% 6/1/23 | 415,000 | 418,347 | |
TOTAL MICHIGAN | 1,275,848 | ||
Minnesota - 0.8% | |||
Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev. Series 2022 B, 5% 1/1/23 (c) | 400,000 | 400,000 | |
Minnesota Hsg. Fin. Agcy. Series 2022 A, 5% 8/1/24 | 360,000 | 371,875 | |
Saint Cloud Health Care Rev. Series 2014 B, 5% 5/1/23 | 205,000 | 206,101 | |
Southern Minnesota Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Series 2015 A, 5% 1/1/23 | 200,000 | 200,000 | |
TOTAL MINNESOTA | 1,177,976 | ||
Missouri - 0.2% | |||
Missouri Health & Edl. Facilities Rev. Series 2014 A, 5% 6/1/23 | 235,000 | 236,608 | |
Montana - 0.1% | |||
Montana Facility Fin. Auth. Rev. Series 2019 A, 5% 1/1/23 | 100,000 | 100,000 | |
Nebraska - 0.4% | |||
Lincoln Arpt. Auth. Series 2021, 5% 7/1/25 (c) | 550,000 | 570,899 | |
Nevada - 0.4% | |||
Nevada Dept. of Bus. & Industry Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2001, 3.75%, tender 6/1/23 (b)(c)(d) | 200,000 | 199,591 | |
Series 2020 A, 0.85%, tender 1/26/23 (b)(c)(d) | 400,000 | 399,228 | |
TOTAL NEVADA | 598,819 | ||
New Jersey - 2.7% | |||
New Jersey Econ. Dev. Auth. Rev.: | |||
(New Jersey Gen. Oblig. Proj.) Series 2017 B, 5% 11/1/24 | 185,000 | 191,047 | |
Series 2005 N1, 5.5% 9/1/23 | 400,000 | 405,573 | |
Series 2013, 5% 3/1/25 | 380,000 | 381,050 | |
Series 2019, 5.25% 9/1/24 (d) | 320,000 | 330,666 | |
New Jersey Gen. Oblig. Series 2020 A, 5% 6/1/24 | 140,000 | 144,104 | |
New Jersey Health Care Facilities Fing. Auth. Rev.: | |||
Series 2016 A, 5% 7/1/23 | 240,000 | 242,297 | |
Series 2017 A, 5% 7/1/23 | 135,000 | 136,173 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | |||
Series 2016 1A: | |||
5% 12/1/23 (c) | 100,000 | 101,361 | |
5% 12/1/24 (c) | 170,000 | 175,086 | |
Series 2017 1A, 5% 12/1/24 (c) | 350,000 | 360,078 | |
Series 2021 A, 5% 12/1/23 (c) | 200,000 | 202,722 | |
Series 2022 B, 5% 12/1/25 (c) | 250,000 | 260,023 | |
New Jersey Hsg. & Mtg. Fin. Agcy. Multi-family Rev. Series 2021 B, 0.5% 11/1/23 | 90,000 | 87,981 | |
New Jersey Tobacco Settlement Fing. Corp. Series 2018 A: | |||
5% 6/1/23 | 300,000 | 301,544 | |
5% 6/1/24 | 255,000 | 259,284 | |
New Jersey Trans. Trust Fund Auth.: | |||
Series 2004 A, 5.75% 6/15/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 100,000 | 106,174 | |
Series 2006 C, 0% 12/15/24 | 260,000 | 245,306 | |
Series 2014 AA, 5% 6/15/25 | 100,000 | 102,510 | |
TOTAL NEW JERSEY | 4,032,979 | ||
New Mexico - 0.2% | |||
New Mexico Edl. Assistance Foundation Series 2021 1A, 5% 9/1/23 (c) | 100,000 | 100,921 | |
New Mexico Muni. Energy Acquisition Auth. Gas Supply Rev. Bonds Series 2019 A, 5%, tender 5/1/25 (b) | 150,000 | 153,739 | |
TOTAL NEW MEXICO | 254,660 | ||
New York - 0.8% | |||
Genesee County Fdg. Corp. (Rochester Reg'l. Health Proj.) Series 2022 A: | |||
5% 12/1/24 | 175,000 | 179,615 | |
5% 12/1/25 | 175,000 | 181,918 | |
New York City Indl. Dev. Agcy. Rev. Series 2021 A, 5% 1/1/26 (Assured Guaranty Muni. Corp. Insured) | 35,000 | 36,999 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2017 B, 5% 11/15/23 | 390,000 | 395,032 | |
Series 2020 A, 5% 2/1/23 | 200,000 | 200,146 | |
New York State Dorm. Auth. Series 2017 A: | |||
5% 2/15/23 | 30,000 | 30,072 | |
5% 2/15/23 (Escrowed to Maturity) | 95,000 | 95,213 | |
New York Trans. Dev. Corp. (Term. 4 JFK Int'l. Arpt. Proj.) Series 2020 A, 5% 12/1/25 (c) | 45,000 | 46,577 | |
TOTAL NEW YORK | 1,165,572 | ||
New York And New Jersey - 0.6% | |||
Port Auth. of New York & New Jersey: | |||
Series 177, 5% 7/15/23 (c) | 235,000 | 235,212 | |
Series 178, 5% 12/1/23 (c) | 135,000 | 136,656 | |
Series 186, 5% 10/15/23 (c) | 100,000 | 101,038 | |
Series 2017 202, 5% 10/15/23 (c) | 225,000 | 227,337 | |
Series 2018, 5% 9/15/25 (c) | 145,000 | 151,033 | |
TOTAL NEW YORK AND NEW JERSEY | 851,276 | ||
North Carolina - 0.2% | |||
Charlotte Int'l. Arpt. Rev. Series 2017 B, 5% 7/1/23 (c) | 130,000 | 131,041 | |
Charlotte-Mecklenburg Hosp. Auth. Health Care Sys. Rev. Bonds Series 2021 B, 5%, tender 12/2/24 (b) | 115,000 | 119,269 | |
TOTAL NORTH CAROLINA | 250,310 | ||
Ohio - 1.2% | |||
American Muni. Pwr., Inc. Rev. Series 2021 A: | |||
5% 2/15/23 | 200,000 | 200,387 | |
5% 2/15/24 | 200,000 | 204,038 | |
Miami Univ. Series 2022 A, 5% 9/1/23 | 50,000 | 50,653 | |
Ohio Gen. Oblig. Series 2021 A, 5% 3/1/23 | 100,000 | 100,320 | |
Ohio Higher Ed. Facilities Commission Healthcare Rev. Series 2022: | |||
5% 1/1/23 | 235,000 | 235,000 | |
5% 1/1/25 | 200,000 | 204,088 | |
Ohio Hosp. Facilities Rev. Series 2017 A, 5% 1/1/25 | 215,000 | 223,960 | |
Ohio Tpk. Commission Tpk. Rev. (Infrastructure Projs.) Series 2022 A, 5% 2/15/25 | 105,000 | 110,007 | |
Wright State Univ. Gen. Receipts Series 2021 A, 4% 5/1/23 (Build America Mutual Assurance Insured) | 500,000 | 500,519 | |
TOTAL OHIO | 1,828,972 | ||
Oklahoma - 0.1% | |||
Univ. of Oklahoma Gen. Rev. Series 2021 A, 5% 7/1/23 (Assured Guaranty Muni. Corp. Insured) | 150,000 | 151,355 | |
Oregon - 0.4% | |||
Oregon Bus. Dev. Commission Recovery Zone Facility Bonds (Intel Corp. Proj.) Series 232, 2.4%, tender 8/14/23 (b) | 125,000 | 124,029 | |
Port of Portland Arpt. Rev.: | |||
Series 2022, 5% 7/1/25 (c) | 195,000 | 202,694 | |
Series 26 C, 5% 7/1/24 (c) | 300,000 | 306,985 | |
TOTAL OREGON | 633,708 | ||
Pennsylvania - 3.6% | |||
Allegheny County Higher Ed. Bldg. Auth. Univ. Rev. Series 2021 A, 5% 3/1/23 | 625,000 | 626,539 | |
Allegheny County Hosp. Dev. Auth. Rev. Series 2019 A, 5% 7/15/23 | 315,000 | 318,061 | |
Chester County Health & Ed. Facilities Auth. Health Sys. Rev. Series 2020 B, 5% 6/1/23 | 1,000,000 | 1,008,066 | |
Dauphin County Gen. Auth. (Pinnacle Health Sys. Proj.) Series 2016 A, 5% 6/1/23 | 100,000 | 100,643 | |
Delaware County Auth. Univ. Rev. Series 2014, 5% 8/1/23 | 150,000 | 151,728 | |
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.): | |||
Series 2019 A, 3.875%, tender 1/17/23 (b)(c) | 100,000 | 99,997 | |
Series 2019 B1, 3.875%, tender 1/17/23 (b)(c) | 100,000 | 99,997 | |
(Republic Svcs., Inc. Proj.): | |||
Series 2014, 3.8%, tender 1/3/23 (b)(c) | 1,800,000 | 1,800,000 | |
Series 2019 B2, 2.35%, tender 1/17/23 (b)(c) | 400,000 | 399,771 | |
(Waste Mgmt., Inc. Proj.) Series 2013, 4%, tender 2/1/23 (b)(c) | 500,000 | 499,978 | |
(Waste Mgmt., Inc. Proj.) Series 2021 A, SIFMA Municipal Swap Index + 0.400% 4.06%, tender 6/3/24 (b)(c)(e) | 100,000 | 97,197 | |
Pennsylvania Hsg. Fin. Agcy.: | |||
Series 2021 135 B: | |||
5% 4/1/23 (c) | 10,000 | 10,026 | |
5% 4/1/24 (c) | 10,000 | 10,156 | |
5% 4/1/25 (c) | 15,000 | 15,462 | |
Series 2021 137, 0.4% 4/1/23 | 40,000 | 39,715 | |
Philadelphia Gas Works Rev. Series 2015 13, 5% 8/1/24 | 100,000 | 102,846 | |
TOTAL PENNSYLVANIA | 5,380,182 | ||
Pennsylvania, New Jersey - 0.1% | |||
Delaware River Port Auth. Pennsylvania & New Jersey Rev. (Port District Proj.) Series 2012, 5% 1/1/24 | 225,000 | 225,000 | |
Rhode Island - 0.1% | |||
Rhode Island Health and Edl. Bldg. Corp. Higher Ed. Facility Rev. Series 2012, 5% 11/1/24 | 115,000 | 115,166 | |
South Carolina - 0.9% | |||
Patriots Energy Group Fing. Agcy. Bonds Series 2018 A, 4%, tender 2/1/24 (b) | 545,000 | 544,519 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2013, 5% 12/1/25 | 350,000 | 367,392 | |
Series 2022 A, 5% 12/1/24 | 315,000 | 325,782 | |
Spartanburg County Reg'l. Health Series 2022, 5% 4/15/23 | 100,000 | 100,407 | |
TOTAL SOUTH CAROLINA | 1,338,100 | ||
Tennessee - 0.7% | |||
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 715,000 | 725,414 | |
Tennessee Energy Acquisition Corp. Bonds (Gas Rev. Proj.) Series A, 4%, tender 5/1/23 (b) | 300,000 | 300,485 | |
TOTAL TENNESSEE | 1,025,899 | ||
Texas - 1.9% | |||
Austin Arpt. Sys. Rev.: | |||
Series 2019, 5% 11/15/24 (c) | 125,000 | 128,935 | |
Series 2022, 5% 11/15/25 (c) | 105,000 | 109,604 | |
El Paso Gen. Oblig. Series 2021 C, 5% 8/15/23 | 75,000 | 75,948 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Bonds Series 2019 B, 5%, tender 12/1/24 (b) | 205,000 | 211,786 | |
Lower Colorado River Auth. Rev. (LCRA Transmission Svcs. Corp. Proj.) Series 2015, 5% 5/15/23 | 215,000 | 216,380 | |
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2020 A, 4.1%, tender 2/1/23 (b)(c) | 500,000 | 500,039 | |
(Waste Mgmt., Inc. Proj.) Series 2020 B, 3.5%, tender 3/1/23 (b)(c) | 400,000 | 399,522 | |
North Texas Tollway Auth. Rev.: | |||
Series 2017 B: | |||
5% 1/1/23 | 105,000 | 105,000 | |
5% 1/1/24 | 5,000 | 5,007 | |
5% 1/1/24 (Pre-Refunded to 1/1/23 @ 100) | 145,000 | 145,000 | |
Series 2021 B, 5% 1/1/26 | 65,000 | 68,788 | |
Port of Houston Auth. Series 2021, 5% 10/1/23 | 105,000 | 106,613 | |
San Antonio Elec. & Gas Sys. Rev.: | |||
Bonds Series 2018, SIFMA Municipal Swap Index + 0.870% 4.53%, tender 12/1/25 (b)(e) | 455,000 | 455,002 | |
Series 2022, 5% 2/1/26 | 50,000 | 53,263 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Bonds (Baylor Scott & White Health Proj.) Series 2022 E, 5%, tender 5/15/26 (b) | 225,000 | 237,552 | |
TOTAL TEXAS | 2,818,439 | ||
Utah - 0.1% | |||
Salt Lake City Arpt. Rev. Series 2018 A, 5% 7/1/24 (c) | 105,000 | 107,537 | |
Utah County Hosp. Rev. Series 2016 A, 5% 5/15/23 | 110,000 | 110,746 | |
TOTAL UTAH | 218,283 | ||
Virginia - 1.4% | |||
Sussex County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds Series 2003 A, 3%, tender 5/1/23 (b)(c) | 2,000,000 | 1,994,600 | |
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) | 100,000 | 98,880 | |
TOTAL VIRGINIA | 2,093,480 | ||
Washington - 0.8% | |||
King County Swr. Rev. Bonds Series 2020 B, 0.875%, tender 1/1/26 (b) | 135,000 | 123,537 | |
Port of Seattle Rev.: | |||
Series 2015 B, 5% 3/1/24 | 100,000 | 102,301 | |
Series 2016, 5% 2/1/25 | 120,000 | 125,118 | |
Series 2021 C: | |||
5% 8/1/23 (c) | 100,000 | 100,781 | |
5% 8/1/24 (c) | 205,000 | 209,850 | |
Series 2022 B: | |||
5% 8/1/24 (c) | 160,000 | 163,786 | |
5% 8/1/25 (c) | 150,000 | 156,127 | |
5% 8/1/26 (c) | 95,000 | 100,062 | |
Tobacco Settlement Auth. Rev. Series 2018, 5% 6/1/23 | 155,000 | 156,266 | |
TOTAL WASHINGTON | 1,237,828 | ||
Wisconsin - 0.4% | |||
Wisconsin Health & Edl. Facilities: | |||
(Agnesian Healthcare Proj.) Series 2017, 5% 7/1/23 | 100,000 | 100,859 | |
Bonds Series 2018 B, 5%, tender 1/25/23 (b) | 110,000 | 110,109 | |
Wisconsin Health & Edl. Facilities Auth. Rev. Series 2022, 5% 10/1/25 | 360,000 | 379,691 | |
Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev. Bonds Series 2021 C, 0.61%, tender 5/1/24 (b) | 15,000 | 14,279 | |
TOTAL WISCONSIN | 604,938 | ||
TOTAL MUNICIPAL BONDS (Cost $65,986,196) | 64,992,650 | ||
Municipal Notes - 52.1% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.3% | |||
Birmingham Indl. Dev. Board Solid Waste Rev. (American Cast Iron Pipe Co. Proj.) Series 2000, 3.85% 1/6/23, LOC Bank of America NA, VRDN (b)(c) | 180,000 | 180,000 | |
Jefferson County Ala Board Ed. Pubs Participating VRDN Series XM 10 90, 2.26% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 300,000 | 300,000 | |
TOTAL ALABAMA | 480,000 | ||
Arizona - 1.6% | |||
Arizona St Indl. Dev. Auth. Multi Participating VRDN Series XF 10 91, 3.21% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 100,000 | 100,000 | |
Glendale Indl. dev auth Sr Living Facilities Rev. Participating VRDN Series BC 22 01, 3.44% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 300,000 | 300,000 | |
Maricopa County Poll. Cont. Rev.: | |||
Series 2009 C, 4% 1/6/23, VRDN (b) | 1,000,000 | 1,000,000 | |
Series 2009 D, 4% 1/6/23, VRDN (b) | 830,000 | 830,000 | |
Phoenix Civic Impt. Board Arpt. Rev. Participating VRDN Series 2018 XM 06 15, 3.85% 1/6/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 100,000 | 100,000 | |
TOTAL ARIZONA | 2,330,000 | ||
California - 6.8% | |||
California Cmnty. Choice Fing. Auth. Clean Energy Proj. Rev. Participating VRDN Series XF 30 07, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 700,000 | 700,000 | |
California Statewide Cmntys. Dev. Auth. Multi-family Hsg. Rev. Participating VRDN Series Floater MIZ 91 13, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g) | 200,000 | 200,000 | |
Los Angeles Cmnty. Redev. Agcy. Multi-family Hsg. Rev. Participating VRDN: | |||
Series 2022 MIZ 90 89, 3.91% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(c)(f)(g) | 1,700,000 | 1,700,000 | |
Series 2022 MIZ 90 90, 3.91% 1/6/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(c)(f)(g) | 2,600,000 | 2,600,000 | |
Mizuho Floater / Residual Trust V Participating VRDN Series Floater MIZ 90 97, 3.91% 1/6/23, LOC Mizuho Cap. Markets LLC (b)(f)(g) | 200,000 | 200,000 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Participating VRDN Series XM 10 54, 3.84% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 2,300,000 | 2,300,000 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN Series 2022 XF 30 51, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 300,000 | 300,000 | |
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN Series MIZ 91 15, 3.96% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 2,200,000 | 2,200,000 | |
TOTAL CALIFORNIA | 10,200,000 | ||
Colorado - 1.0% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN Series XM 10 61, 3.91% 1/5/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 300,000 | 300,000 | |
Denver City & County Arpt. Rev. Participating VRDN: | |||
Series Floaters XL 00 90, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 400,000 | 400,000 | |
Series Floaters XM 07 15, 3.91% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 800,000 | 800,000 | |
TOTAL COLORADO | 1,500,000 | ||
Florida - 1.7% | |||
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Participating VRDN Series XM 10 93, 2.12% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 400,000 | 400,000 | |
Hillsborough County Aviation Auth. Rev. Participating VRDN Series XL 02 90, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 500,000 | 500,000 | |
Lee Memorial Health Sys. Hosp. Rev. Series 2019 B, 4.21% 1/6/23, VRDN (b) | 1,440,000 | 1,440,000 | |
Miami Dade County Hsg. Multifamily Hsg. Rev. Participating VRDN Series Floater MIZ 90 87, 3.74% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 200,000 | 200,000 | |
TOTAL FLORIDA | 2,540,000 | ||
Georgia - 1.9% | |||
Appling County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Hatch Proj.) Series 1997, 3.9% 1/3/23, VRDN (b) | 800,000 | 800,000 | |
Bartow County Dev. Auth. (Georgia Pwr. Co. Plant Bowen Proj.) Series 2022: | |||
3.8% 1/3/23, VRDN (b)(c) | 750,000 | 750,000 | |
3.9% 1/3/23, VRDN (b)(c) | 1,280,000 | 1,280,000 | |
TOTAL GEORGIA | 2,830,000 | ||
Hawaii - 1.6% | |||
Hawaii Arpts. Sys. Rev. Participating VRDN: | |||
Series XG 03 86, 3.84% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 100,000 | 100,000 | |
Series XM 10 55, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 2,300,000 | 2,300,000 | |
TOTAL HAWAII | 2,400,000 | ||
Illinois - 4.4% | |||
Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN: | |||
Series 2022 XL 03 14, 3.93% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 1,300,000 | 1,300,000 | |
Series XM 10 38, 3.93% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 800,000 | 800,000 | |
Series XM 10 41, 3.96% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 1,400,000 | 1,400,000 | |
Series XM 10 78, 3.93% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 1,600,000 | 1,600,000 | |
Series XX 12 43, 3.86% 1/6/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 400,000 | 400,000 | |
Deutsche Spears/Lifers Trust Participating VRDN Series 2016 XG 00 93, 3.86% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 300,000 | 300,000 | |
Village of Oswego Indl. Dev. (Griffith Laboratories Worldwide, Inc.) Series 1995, 3.85% 1/6/23, LOC Wells Fargo Bank NA, VRDN (b)(c) | 720,000 | 720,000 | |
TOTAL ILLINOIS | 6,520,000 | ||
Indiana - 0.1% | |||
Lucky Heights Tc, Lp Participating VRDN Series XF 11 41, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
Kentucky - 0.9% | |||
Kentucky Tpk. Auth. Econ. Dev. Road Rev. Participating VRDN Series XF 24 84, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 100,000 | 100,000 | |
Meade County Indl. Bldg. Rev. (Nucor Steel Brandenburg Proj.) Series 2020 A1, 4.28% 1/3/23, VRDN (b)(c) | 1,300,000 | 1,300,000 | |
TOTAL KENTUCKY | 1,400,000 | ||
Louisiana - 5.7% | |||
Galilee Sr. Hsg., Lp Participating VRDN Series XF 11 21, 3.91% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 300,000 | 300,000 | |
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.) Series 2010 A1, 4.12% 1/6/23, VRDN (b) | 8,195,000 | 8,195,000 | |
TOTAL LOUISIANA | 8,495,000 | ||
Maryland - 0.4% | |||
Baltimore County Gen. Oblig. Participating VRDN Series 2022 032, 3.86% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 200,000 | 200,000 | |
Integrace Obligated Group Participating VRDN Series 2022 024, 3.86% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 400,000 | 400,000 | |
TOTAL MARYLAND | 600,000 | ||
Massachusetts - 0.1% | |||
Massachusetts Edl. Fing. Auth. Rev. Participating VRDN Series Floaters XF 23 06, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 100,000 | 100,000 | |
Michigan - 0.3% | |||
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev. Participating VRDN Series XM 10 91, 2.01% 1/3/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 400,000 | 400,000 | |
Minnesota - 0.1% | |||
Duluth Minn Hsg. & Redev. Auth. MultiFamily Hsg. Rev. Participating VRDN Series 2021 XF 11 30, 3.69% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Missouri - 0.3% | |||
Kansas City Indl. Dev. Auth. Participating VRDN Series XL 03 3, 3.96% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 500,000 | 500,000 | |
Montana - 0.8% | |||
Montana Board of Hsg. Participating VRDN Series Floater MIZ 90 62, 3.81% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 1,110,000 | 1,110,000 | |
Nevada - 0.3% | |||
Nevada Hsg. Division Participating VRDN Series 2022 MIZ 90 91, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 500,000 | 500,000 | |
New Jersey - 0.3% | |||
New Jersey Trans. Trust Fund Auth. Participating VRDN Series XM 10 47, 3.86% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 500,000 | 500,000 | |
New Mexico - 0.1% | |||
New Mexico St Hosp. Equip. Ln. Co. Participating VRDN Series 2022 034, 3.86% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 205,000 | 205,000 | |
New York - 5.2% | |||
New York City Gen. Oblig. Series 2012 2, 3.97% 1/9/23, VRDN (b) | 3,405,000 | 3,405,000 | |
New York Dorm. Auth. Rev. Participating VRDN Series XF 13 28, 3.83% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 300,000 | 300,000 | |
New York Liberty Dev. Corp. Participating VRDN Series XF 12 42, 3.83% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 265,000 | 265,000 | |
New York Metropolitan Trans. Auth. Rev. Participating VRDN: | |||
Series XF 13 21, 3.84% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 400,000 | 400,000 | |
Series XF 13 55, 3.84% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 400,000 | 400,000 | |
Series ZF 02 18, 3.84% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 200,000 | 200,000 | |
RIB Floater Trust Various States Participating VRDN Series Floater 2022 007, 4.06% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 2,600,000 | 2,600,000 | |
Rockland County Indl. Dev. Agcy. Participating VRDN Series XF 11 32, 3.86% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL NEW YORK | 7,770,000 | ||
Ohio - 1.1% | |||
Ohio Hosp. Rev.: | |||
Series 2013 B, 4.14% 1/6/23, VRDN (b) | 400,000 | 400,000 | |
Series 2015 B, 4.14% 1/5/26, VRDN (b) | 900,000 | 900,000 | |
Ohio Hsg. Fin. Agcy. Multi-family Hsg. Rev. Participating VRDN Series XF 10 92, 3.59% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 300,000 | 300,000 | |
TOTAL OHIO | 1,600,000 | ||
Oklahoma - 0.6% | |||
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Series 2020 B, 4.21% 1/5/26, VRDN (b) | 750,000 | 750,000 | |
Steele Duncan Plaza, LLC Participating VRDN Series MIZ 91 03, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 145,000 | 145,000 | |
TOTAL OKLAHOMA | 895,000 | ||
Oregon - 2.1% | |||
Oregon St Hsg. & Cmnty. Svcs. Dep Participating VRDN Series 2021 XF 11 23, 3.65% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 3,130,000 | 3,130,000 | |
Pennsylvania - 1.2% | |||
Pennsylvania Hsg. Fin. Agcy. Multifamily Hsg. Dev. Rev. Participating VRDN Series XF 10 95, 3.69% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
Philadelphia Auth. for Indl. Dev.: | |||
Participating VRDN Series MIZ 90 51, 3.35% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 100,000 | 100,000 | |
Series 2017 B, 4.17% 1/5/26, VRDN (b) | 1,450,000 | 1,450,000 | |
TOTAL PENNSYLVANIA | 1,750,000 | ||
South Carolina - 1.1% | |||
Greenville Hosp. Sys. Facilities Rev. Participating VRDN Series XF 01 45, 3.86% 1/6/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 200,000 | 200,000 | |
South Carolina Pub. Svc. Auth. Rev. Participating VRDN Series 2021 XF 12 43, 3.82% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,495,000 | 1,495,000 | |
TOTAL SOUTH CAROLINA | 1,695,000 | ||
Tennessee - 0.3% | |||
Metropolitan Govt. Nashville & Davidson County Health & Edl. Facilities Board Participating VRDN Series XF 10 97, 3.56% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 500,000 | 500,000 | |
Texas - 9.5% | |||
Austin Affordable Pfc, Inc. Multifamily Hsg. Rev. Participating VRDN Series XF 11 19, 3.75% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
Austin Arpt. Sys. Rev. Participating VRDN Series XG 04 27, 3.91% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 400,000 | 400,000 | |
Cap. Area Hsg. Fin. Corp. Multi-family Hsg. Rev. Participating VRDN Series XF 11 31, 3.85% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 1,200,000 | 1,200,000 | |
Ep Machuca Lp Participating VRDN Series MIZ 91 04, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g)(h) | 200,000 | 200,000 | |
Hurst Participating VRDN Series XF 10 94, 3.7% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
North Central Texas Hsg. Fin. Corp. Mu Participating VRDN Series XF 10 99, 3.86% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 1,100,000 | 1,100,000 | |
Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.): | |||
Series 2001 A, 4.2% 1/3/23, VRDN (b) | 800,000 | 800,000 | |
Series 2004, 4.51% 1/6/23, VRDN (b)(c) | 5,400,000 | 5,400,000 | |
Series 2010 D: | |||
4.45% 1/6/23, VRDN (b) | 800,000 | 800,000 | |
4.46% 1/6/23, VRDN (b) | 100,000 | 100,000 | |
Reg Bridge Propco I Llc Participating VRDN Series DBE 80 90, 4.06% 2/28/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g)(h) | 1,800,000 | 1,800,000 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Participating VRDN Series XG 03 89, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG) (b)(f)(g) | 400,000 | 400,000 | |
Texas Dept. of Hsg. & Cmnty. Affairs Residential Mtg. Rev. Participating VRDN Series XF 10 98, 3.36% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 1,400,000 | 1,400,000 | |
Texas St Technical College Sys. Participating VRDN Series 2022 XF 14 11, 3.86% 1/6/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL TEXAS | 14,100,000 | ||
Utah - 1.6% | |||
Roers Salt Lake City Apt. Participating VRDN Series XF 11 38, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Salt Lake City Arpt. Rev. Participating VRDN Series 17 XM 0493, 3.86% 1/6/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 2,000,000 | 2,000,000 | |
Utah Hsg. Corp. Multi-family Hsg. Rev. Participating VRDN Series 2021 XF 11 00, 3.78% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 300,000 | 300,000 | |
TOTAL UTAH | 2,400,000 | ||
Virginia - 0.3% | |||
Lynchburg Econ. Dev. Participating VRDN Series XL 00 75, 3.91% 1/6/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 300,000 | 300,000 | |
Waters At James Crossing, LP Participating VRDN Series XG 03 90, 3.96% 1/6/23 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL VIRGINIA | 500,000 | ||
Washington - 0.1% | |||
Washington Econ. Dev. Fin. Auth. Rev. Participating VRDN Series Floaters 005, 3.91% 2/10/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 100,000 | 100,000 | |
West Virginia - 0.3% | |||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 E, 4.18% 1/5/26, VRDN (b) | 400,000 | 400,000 | |
TOTAL MUNICIPAL NOTES (Cost $77,750,000) | 77,750,000 | ||
Money Market Funds - 5.7% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 3.72% (i)(j) (Cost $8,525,006) | 8,523,295 | 8,524,997 | |
TOTAL INVESTMENT IN SECURITIES - 101.4% (Cost $152,261,202) | 151,267,647 |
NET OTHER ASSETS (LIABILITIES) - (1.4)% | (2,142,241) |
NET ASSETS - 100.0% | 149,125,406 |
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 $1,629,496 or 1.1% of net assets. |
(e) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(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) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $6,255,000 or 4.2% of net assets. |
(i) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Ep Machuca Lp Participating VRDN Series MIZ 91 04, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 8/05/22 | 200,000 |
Miami Dade County Hsg. Multifamily Hsg. Rev. Participating VRDN Series Floater MIZ 90 87, 3.74% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 1/27/22 | 200,000 |
Montana Board of Hsg. Participating VRDN Series Floater MIZ 90 62, 3.81% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 8/17/22 | 1,110,000 |
Nevada Hsg. Division Participating VRDN Series 2022 MIZ 90 91, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 2/10/22 | 500,000 |
Philadelphia Auth. for Indl. Dev. Participating VRDN Series MIZ 90 51, 3.35% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 11/12/20 | 100,000 |
Reg Bridge Propco I Llc Participating VRDN Series DBE 80 90, 4.06% 2/28/23 (Liquidity Facility Deutsche Bank AG New York Branch) | 9/27/22 | 1,800,000 |
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN Series MIZ 91 15, 3.96% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 12/01/22 - 12/19/22 | 2,200,000 |
Steele Duncan Plaza, LLC Participating VRDN Series MIZ 91 03, 3.91% 2/3/23 (Liquidity Facility Mizuho Cap. Markets LLC) | 8/11/22 | 145,000 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Municipal Cash Central Fund 3.72% | 7,907,002 | 63,577,009 | 62,959,000 | 89,847 | - | (14) | 8,524,997 | 0.3% |
Total | 7,907,002 | 63,577,009 | 62,959,000 | 89,847 | - | (14) | 8,524,997 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 142,742,650 | - | 142,742,650 | - |
Money Market Funds | 8,524,997 | 8,524,997 | - | - |
Total Investments in Securities: | 151,267,647 | 8,524,997 | 142,742,650 | - |
Statement of Assets and Liabilities | ||||
December 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | $ | |||
Unaffiliated issuers (cost $143,736,196) | 142,742,650 | |||
Fidelity Central Funds (cost $8,525,006) | 8,524,997 | |||
Total Investment in Securities (cost $152,261,202) | $ | 151,267,647 | ||
Receivable for investments sold | 100,513 | |||
Receivable for fund shares sold | 144,646 | |||
Interest receivable | 1,010,198 | |||
Distributions receivable from Fidelity Central Funds | 23,232 | |||
Other receivables | 45 | |||
Total assets | 152,546,281 | |||
Liabilities | ||||
Payable to custodian bank | $58,291 | |||
Payable for investments purchased | 2,900,000 | |||
Payable for fund shares redeemed | 136,880 | |||
Distributions payable | 325,452 | |||
Other payables and accrued expenses | 252 | |||
Total Liabilities | 3,420,875 | |||
Net Assets | $ | 149,125,406 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 150,116,152 | ||
Total accumulated earnings (loss) | (990,746) | |||
Net Assets | $ | 149,125,406 | ||
Net Asset Value , offering price and redemption price per share ($149,125,406 ÷ 14,971,879 shares) | $ | 9.96 | ||
Statement of Operations | ||||
Year ended December 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 1,654,697 | ||
Income from Fidelity Central Funds | 89,760 | |||
Total Income | 1,744,457 | |||
Expenses | ||||
Independent trustees' fees and expenses | 469 | |||
Tax expense | 252 | |||
Total Expenses | 721 | |||
Net Investment income (loss) | 1,743,736 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,844 | |||
Capital gain distributions from Fidelity Central Funds | 87 | |||
Total net realized gain (loss) | 2,931 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,094,823) | |||
Fidelity Central Funds | (14) | |||
Total change in net unrealized appreciation (depreciation) | (1,094,837) | |||
Net gain (loss) | (1,091,906) | |||
Net increase (decrease) in net assets resulting from operations | $ | 651,830 |
Statement of Changes in Net Assets | ||||
Year ended December 31, 2022 | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,743,736 | $ | 589,617 |
Net realized gain (loss) | 2,931 | 5,696 | ||
Change in net unrealized appreciation (depreciation) | (1,094,837) | (178,118) | ||
Net increase (decrease) in net assets resulting from operations | 651,830 | 417,195 | ||
Distributions to shareholders | (1,742,874) | (603,242) | ||
Share transactions | ||||
Proceeds from sales of shares | 96,062,017 | 130,607,143 | ||
Reinvestment of distributions | - | 16,296 | ||
Cost of shares redeemed | (91,447,126) | (64,903,201) | ||
Net increase (decrease) in net assets resulting from share transactions | 4,614,891 | 65,720,238 | ||
Total increase (decrease) in net assets | 3,523,847 | 65,534,191 | ||
Net Assets | ||||
Beginning of period | 145,601,559 | 80,067,368 | ||
End of period | $ | 149,125,406 | $ | 145,601,559 |
Other Information | ||||
Shares | ||||
Sold | 9,635,807 | 13,003,310 | ||
Issued in reinvestment of distributions | - | 1,622 | ||
Redeemed | (9,179,850) | (6,462,435) | ||
Net increase (decrease) | 455,957 | 6,542,497 | ||
Fidelity Flex® Conservative Income Municipal Bond Fund |
Years ended December 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.03 | $ | 10.04 | $ | 10.02 | $ | 9.98 | $ | 9.98 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .118 | .052 | .121 | .192 | .179 | |||||
Net realized and unrealized gain (loss) | (.069) | (.007) | .026 | .044 | (.004) | |||||
Total from investment operations | .049 | .045 | .147 | .236 | .175 | |||||
Distributions from net investment income | (.119) | (.054) | (.125) | (.193) | (.174) | |||||
Distributions from net realized gain | - | (.001) | (.002) | (.003) | (.001) | |||||
Total distributions | (.119) | (.055) | (.127) | (.196) | (.175) | |||||
Net asset value, end of period | $ | 9.96 | $ | 10.03 | $ | 10.04 | $ | 10.02 | $ | 9.98 |
Total Return C | .49% | .45% | 1.48% | 2.39% | 1.77% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions F | -% | -% | -% | -% | -% | |||||
Expenses net of fee waivers, if any F | -% | -% | -% | -% | -% | |||||
Expenses net of all reductions F | -% | -% | -% | -% | -% | |||||
Net investment income (loss) | 1.19% | .52% | 1.21% | 1.92% | 1.81% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 149,125 | $ | 145,602 | $ | 80,067 | $ | 54,558 | $ | 36,787 |
Portfolio turnover rate G | 58% | 44% | 36% | 52% | 11% |
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 | $7,731 |
Gross unrealized depreciation | (1,001,104) |
Net unrealized appreciation (depreciation) | $(993,373) |
Tax Cost | $152,261,020 |
Undistributed tax-exempt income | $1,239 |
Undistributed ordinary income | $1,388 |
Net unrealized appreciation (depreciation) on securities and other investments | $(993,373) |
December 31, 2022 | December 31, 2021 | |
Tax-exempt Income | $1,742,874 | $589,242 |
Ordinary Income | - | 14,000 |
Total | $1,742,874 | $603,242 |
Purchases ($) | Sales ($) | |
Fidelity Flex Conservative Income Municipal Bond Fund | 40,066,519 | 43,037,596 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Flex Conservative Income Municipal Bond Fund | 5,685,000 | 8,500,000 | - |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2022 to December 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2022 | Ending Account Value December 31, 2022 | Expenses Paid During Period- C July 1, 2022 to December 31, 2022 | |||||||
Fidelity Flex® Conservative Income Municipal Bond Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,008.90 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,025.21 | $- E | |||||||
Item 2.
Code of Ethics
As of the end of the period, December 31, 2022, Fidelity Municipal 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 PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Conservative Income Municipal Bond Fund, Fidelity Flex Conservative Income Municipal Bond Fund, Fidelity Flex Municipal Income Fund, Fidelity Limited Term Municipal Income Fund, Fidelity Michigan Municipal Income Fund, Fidelity Minnesota Municipal Income Fund, Fidelity Municipal Income Fund, Fidelity Ohio Municipal Income Fund and Fidelity Pennsylvania Municipal Income Fund (the “Funds”):
Services Billed by PwC
December 31, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Conservative Income Municipal Bond Fund | $43,600 | $3,500 | $5,200 | $1,600 |
Fidelity Flex Conservative Income Municipal Bond Fund | $45,300 | $3,700 | $5,200 | $1,600 |
Fidelity Flex Municipal Income Fund | $45,300 | $3,700 | $5,200 | $1,600 |
Fidelity Limited Term Municipal Income Fund | $51,000 | $4,100 | $5,200 | $1,800 |
Fidelity Michigan Municipal Income Fund | $41,500 | $3,400 | $5,200 | $1,500 |
Fidelity Minnesota Municipal Income Fund | $41,500 | $3,400 | $5,200 | $1,500 |
Fidelity Municipal Income Fund | $52,100 | $4,200 | $5,300 | $1,800 |
Fidelity Ohio Municipal Income Fund | $41,500 | $3,400 | $5,200 | $1,500 |
Fidelity Pennsylvania Municipal Income Fund | $41,500 | $3,400 | $5,200 | $1,500 |
December 31, 2021 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Conservative Income Municipal Bond Fund | $42,500 | $3,800 | $5,100 | $1,600 |
Fidelity Flex Conservative Income Municipal Bond Fund | $44,100 | $3,900 | $5,100 | $1,700 |
Fidelity Flex Municipal Income Fund | $44,100 | $3,900 | $5,100 | $1,700 |
Fidelity Limited Term Municipal Income Fund | $49,600 | $4,300 | $5,100 | $1,900 |
Fidelity Michigan Municipal Income Fund | $40,400 | $3,600 | $5,100 | $1,600 |
Fidelity Minnesota Municipal Income Fund | $40,400 | $3,600 | $5,100 | $1,600 |
Fidelity Municipal Income Fund | $50,800 | $4,400 | $5,100 | $1,900 |
Fidelity Ohio Municipal Income Fund | $40,400 | $3,600 | $5,100 | $1,600 |
Fidelity Pennsylvania Municipal Income Fund | $40,400 | $3,600 | $5,100 | $1,600 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by 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 PwC
December 31, 2022A | December 31, 2021A | |
Audit-Related Fees | $7,914,600 | $8,522,600 |
Tax Fees | $1,000 | $354,200 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
“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 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 | December 31, 2022A | December 31, 2021A |
PwC | $12,977,100 | $14,215,300 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its(their) audit of the Fund(s), taking into account representations from 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 Municipal Trust
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | February 21, 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: | February 21, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | February 21, 2023 |