Quarterly Holdings Report
for
Fidelity Flex® Funds
Fidelity Flex® Conservative Income Municipal Bond Fund
September 30, 2021
XCB-NPRT3-1121
1.9884862.103
Municipal Bonds - 59.9% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.4% | |||
Black Belt Energy Gas District: | |||
Bonds Series 2017 A, 4%, tender 7/1/22 (b) | 250,000 | 255,715 | |
Series A, 4% 6/1/22 | 115,000 | 117,818 | |
Southeast Alabama Gas Supply District Bonds (Proj. No. 2) Series 2018 A, 4%, tender 6/1/24 (b) | 145,000 | 157,347 | |
TOTAL ALABAMA | 530,880 | ||
Arizona - 1.1% | |||
Arizona Health Facilities Auth. Rev. (Scottsdale Lincoln Hospitals Proj.) Series 2014 A, 5% 12/1/21 | 100,000 | 100,765 | |
Bullhead City Excise Taxes Series 2021 2, 0.6% 7/1/24 | 275,000 | 274,193 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.) Series 2019, 5%, tender 6/3/24 (b)(c) | 100,000 | 111,690 | |
Maricopa County Rev.: | |||
Bonds Series 2019 B, SIFMA Municipal Swap Index + 0.380% 0.43%, tender 10/7/21 (b)(d) | 190,000 | 190,098 | |
Series 2016 A: | |||
5% 1/1/22 | 100,000 | 101,165 | |
5% 1/1/23 | 100,000 | 105,925 | |
Phoenix Civic Impt. Board Arpt. Rev.: | |||
Series 2013, 5% 7/1/22 (c) | 265,000 | 274,429 | |
Series 2017 D, 5% 7/1/24 | 225,000 | 253,401 | |
TOTAL ARIZONA | 1,411,666 | ||
California - 2.6% | |||
California Health Facilities Fing. Auth. Rev.: | |||
Series 2013 A, 5% 7/1/22 | 180,000 | 186,460 | |
Series 2014 A, 5% 10/1/22 | 150,000 | 157,180 | |
Series 2015, 5% 11/15/22 | 150,000 | 158,123 | |
Series 2016 A, 4% 3/1/23 | 300,000 | 315,908 | |
California Muni. Fin. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.): | |||
Series 2021 A, 0.22%, tender 10/1/21 (b)(c) | 600,000 | 600,000 | |
Series 2021 B, 0.3%, tender 1/18/22 (b)(c) | 100,000 | 99,995 | |
California State Univ. Rev. Series 2011 A, 5% 11/1/22 (Pre-Refunded to 11/1/21 @ 100) | 115,000 | 115,419 | |
California Statewide Cmntys. Dev. Auth. Rev. Series 2018 A, 5% 3/1/23 | 110,000 | 117,379 | |
Long Beach Hbr. Rev. Series 2020 B, 5% 5/15/24 (c) | 150,000 | 167,185 | |
Los Angeles Dept. Arpt. Rev.: | |||
Series 2015 A, 5% 5/15/22 (c) | 100,000 | 102,949 | |
Series 2015, 5% 5/15/23 (c) | 100,000 | 107,669 | |
Series 2016 B, 5% 5/15/22 (c) | 100,000 | 102,949 | |
Series 2017 B, 5% 5/15/22 | 125,000 | 128,742 | |
Series 2019 E, 4% 5/15/23 | 125,000 | 132,658 | |
Series A, 5% 5/15/23 (c) | 250,000 | 269,088 | |
Northern California Pwr. Agcy. Rev. Series 2019 A, 5% 8/1/23 | 100,000 | 108,077 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Series 2013 B, 5% 7/1/22 (c) | 150,000 | 155,223 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Series 2016 D, 5% 5/1/24 | 100,000 | 112,036 | |
San Jose Int. Arpt. Rev.: | |||
Series 2014 A, 5% 3/1/23 (Escrowed to Maturity) (c) | 100,000 | 106,571 | |
Series 2017 A, 5% 3/1/23 (Escrowed to Maturity) (c) | 100,000 | 106,571 | |
TOTAL CALIFORNIA | 3,350,182 | ||
Colorado - 1.0% | |||
Colorado Health Facilities Auth. Series 2019 A: | |||
5% 1/1/22 | 320,000 | 323,728 | |
5% 1/1/23 | 165,000 | 174,776 | |
Colorado Health Facilities Auth. Rev. Series 2014 E, 5% 11/15/24 | 200,000 | 224,359 | |
Colorado Univ. Co. Hosp. Auth. Rev. Series 2012 A, 4% 11/15/21 | 100,000 | 100,443 | |
Denver City & County Arpt. Rev.: | |||
Series 2012 A, 5% 11/15/24 (c) | 100,000 | 105,230 | |
Series 2012 B, 5% 11/15/22 | 215,000 | 226,568 | |
Series 2020 B1: | |||
5% 11/15/21 (c) | 55,000 | 55,302 | |
5% 11/15/22 (c) | 55,000 | 57,928 | |
TOTAL COLORADO | 1,268,334 | ||
Connecticut - 2.2% | |||
Connecticut Gen. Oblig.: | |||
Series 2012 E, 5% 9/15/22 | 210,000 | 219,626 | |
Series 2016 A, 5% 3/15/24 | 200,000 | 223,148 | |
Series 2020 A, 5% 1/15/23 | 145,000 | 153,953 | |
Series D, 4% 11/1/21 | 200,000 | 200,591 | |
Series E: | |||
5% 9/1/22 | 175,000 | 182,696 | |
5% 9/15/22 | 200,000 | 209,167 | |
Connecticut Health & Edl. Facilities Auth. Rev.: | |||
Bonds: | |||
Series 2010 A4, 2%, tender 2/8/22 (b) | 100,000 | 100,633 | |
Series 2014 A, 1.1%, tender 2/7/23 (b) | 300,000 | 303,399 | |
Series 2017 C2, 5%, tender 2/1/23 (b) | 275,000 | 292,447 | |
Series 2017 I1, 5% 7/1/22 | 100,000 | 103,489 | |
Connecticut Hsg. Fin. Auth. Series C, 5% 11/15/23 (c) | 100,000 | 108,975 | |
Connecticut Muni. Elec. Energy Coop. Pwr. Supply Sys. Rev. Series 2013 A, 5% 1/1/23 | 115,000 | 121,799 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Series 2012 A: | |||
5% 1/1/24 | 150,000 | 158,888 | |
5% 1/1/24 | 100,000 | 105,925 | |
Series A, 5% 5/1/23 | 325,000 | 349,604 | |
TOTAL CONNECTICUT | 2,834,340 | ||
District Of Columbia - 1.1% | |||
Metropolitan Washington DC Arpts. Auth. Sys. Rev.: | |||
Series 2011 C: | |||
5% 10/1/21 (Escrowed to Maturity) (c) | 205,000 | 205,000 | |
5% 10/1/22 (c) | 20,000 | 20,000 | |
Series 2014 A: | |||
5% 10/1/23 (c) | 100,000 | 109,340 | |
5% 10/1/24 (c) | 110,000 | 124,645 | |
Series 2017 A: | |||
5% 10/1/22 (c) | 355,000 | 371,883 | |
5% 10/1/24 (c) | 100,000 | 113,314 | |
Series 2019 A: | |||
5% 10/1/21 (c) | 10,000 | 10,000 | |
5% 10/1/22 (c) | 5,000 | 5,238 | |
Series 2019 B, 5% 10/1/22 | 100,000 | 104,817 | |
Series 2020 A, 5% 10/1/22 (c) | 85,000 | 89,042 | |
Series 2021 A, 5% 10/1/24 (c) | 205,000 | 232,293 | |
TOTAL DISTRICT OF COLUMBIA | 1,385,572 | ||
Florida - 5.0% | |||
Broward County Arpt. Sys. Rev.: | |||
Series 2012 P-2, 5% 10/1/21 | 240,000 | 240,000 | |
Series 2012 P2, 5% 10/1/23 | 135,000 | 141,398 | |
Series 2012 Q1, 5% 10/1/21 | 195,000 | 195,000 | |
series 2012 Q1, 5% 10/1/22 | 125,000 | 130,983 | |
Series 2015 C, 5% 10/1/22 (c) | 275,000 | 288,078 | |
Series 2017, 5% 10/1/23 (c) | 125,000 | 136,543 | |
Series 2019 A, 5% 10/1/21 (c) | 100,000 | 100,000 | |
Series 2019 B, 5% 10/1/23 (c) | 100,000 | 109,235 | |
Central Florida Expressway Auth. Sr. Lien Rev. Series 2017, 5% 7/1/22 | 115,000 | 119,057 | |
Citizens Property Ins. Corp. Series 2015 A1, 5% 6/1/25 | 100,000 | 114,269 | |
Escambia County Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2003, 2.6% 6/1/23 | 100,000 | 103,534 | |
Florida Board of Ed. Lottery Rev. Series 2012 A, 5% 7/1/22 | 115,000 | 119,136 | |
Florida Mid-Bay Bridge Auth. Rev. Series 2015 A, 5% 10/1/22 | 180,000 | 187,439 | |
Florida Muni. Pwr. Agcy. Rev.: | |||
Series 2011 B, 5% 10/1/22 | 100,000 | 100,000 | |
Series 2015 B, 5% 10/1/22 | 200,000 | 209,450 | |
Series 2016 A, 5% 10/1/21 | 465,000 | 465,000 | |
Gainesville Utils. Sys. Rev. Series 2017 A, 5% 10/1/21 | 100,000 | 100,000 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | |||
Series 2011 B: | |||
4% 10/1/22 (c) | 115,000 | 115,000 | |
4% 10/1/22 (c) | 35,000 | 35,100 | |
Series 2019 A, 5% 10/1/22 (c) | 105,000 | 109,993 | |
Hillsborough County School District Sales Tax Rev. Series 2015 B, 5% 10/1/21 (FSA Insured) | 300,000 | 300,000 | |
Jacksonville Elec. Auth. Elec. Sys. Rev.: | |||
Series 2013 A: | |||
5% 10/1/21 | 100,000 | 100,000 | |
5% 10/1/22 | 115,000 | 120,445 | |
Series 2013 B, 5% 10/1/21 | 150,000 | 150,000 | |
Series 2013 D, 5% 10/1/21 | 200,000 | 200,000 | |
Lee County Arpt. Rev. Series 2021 A, 5% 10/1/24 (c) | 55,000 | 62,270 | |
Lee Memorial Health Sys. Hosp. Rev. Series 2019 A1: | |||
5% 4/1/22 | 100,000 | 102,314 | |
5% 4/1/23 | 165,000 | 176,456 | |
Miami-Dade County Aviation Rev. Series 2016 A, 5% 10/1/23 | 230,000 | 251,626 | |
Miami-Dade County Health Facilities Auth. Hosp. Rev. (Nicklaus Children Hosp.) Series 2017, 5% 8/1/23 | 320,000 | 346,642 | |
Miami-Dade County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2018 A, 0.425%, tender 7/1/24 (b)(c) | 270,000 | 270,892 | |
Miami-Dade County School Board Ctfs. of Prtn.: | |||
Series 2014 D: | |||
5% 11/1/21 | 355,000 | 356,304 | |
5% 11/1/22 | 100,000 | 105,206 | |
Series 2015 A, 5% 5/1/23 | 175,000 | 187,873 | |
Miami-Dade County Wtr. & Swr. Rev. Series 2008 A, 5% 10/1/21 (FSA Insured) | 100,000 | 100,000 | |
Orlando & Orange County Expressway Auth. Rev.: | |||
Series 2012, 5% 7/1/24 (Pre-Refunded to 7/1/22 @ 100) | 225,000 | 233,034 | |
Series 2013 B, 5% 7/1/23 | 100,000 | 108,082 | |
Palm Beach County School Board Ctfs. of Prtn. Series 2012 C, 5% 8/1/23 | 115,000 | 119,523 | |
Pasco County School District Sales Tax Rev. Series 2013, 5% 10/1/21 | 180,000 | 180,000 | |
TOTAL FLORIDA | 6,589,882 | ||
Georgia - 3.0% | |||
Atlanta Arpt. Rev. Series 2019 B, 5% 7/1/24 (c) | 100,000 | 112,272 | |
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.) Series 2013, 1.55%, tender 8/19/22 (b) | 100,000 | 101,090 | |
Cobb County Kennestone Hosp. Auth. Rev.: | |||
(Wellstar Health Sys., Inc. Proj.) Series 2017 A, 5% 4/1/23 | 100,000 | 106,943 | |
Series 2012: | |||
4% 4/1/22 | 100,000 | 101,823 | |
5% 4/1/23 | 100,000 | 106,943 | |
Georgia Muni. Elec. Auth. Pwr. Rev.: | |||
Series 2015 A, 5% 1/1/23 | 245,000 | 259,200 | |
Series 2019 A, 5% 1/1/23 | 450,000 | 476,082 | |
Series 2020 A: | |||
5% 1/1/22 | 100,000 | 101,140 | |
5% 1/1/23 | 100,000 | 105,796 | |
5% 1/1/24 | 145,000 | 159,818 | |
Series 2021 A, 5% 1/1/23 | 145,000 | 153,404 | |
Series GG, 5% 1/1/23 | 190,000 | 201,012 | |
Main Street Natural Gas, Inc.: | |||
Bonds: | |||
Series 2018 B, 1 month U.S. LIBOR + 0.750% 0.805%, tender 9/1/23 (b)(d) | 450,000 | 452,919 | |
Series 2018 C, 4%, tender 12/1/23 (b) | 110,000 | 117,765 | |
Series 2018 E, SIFMA Municipal Swap Index + 0.570% 0.62%, tender 12/1/23 (b)(d) | 930,000 | 933,239 | |
Series 2019 B, 4%, tender 12/2/24 (b) | 265,000 | 292,027 | |
Series 2018 A, 4% 3/1/23 | 200,000 | 210,402 | |
TOTAL GEORGIA | 3,991,875 | ||
Guam - 0.1% | |||
Guam Pwr. Auth. Rev. Series 2012 A, 5% 10/1/21 (FSA Insured) | 120,000 | 120,000 | |
Idaho - 0.1% | |||
Idaho Hsg. & Fin. Assoc. Single Family Mtg. (Idaho St Garvee Proj.) Series 2017 A, 5% 7/15/23 | 100,000 | 108,351 | |
Illinois - 6.1% | |||
Champaign County Cmnty. Unit Series 2020 A, 0% 1/1/24 | 380,000 | 374,638 | |
Chicago Midway Arpt. Rev.: | |||
Series 2014 B, 5% 1/1/23 | 100,000 | 105,912 | |
Series 2016 A, 5% 1/1/23 (c) | 100,000 | 105,757 | |
Chicago O'Hare Int'l. Arpt. Rev.: | |||
Series 2012 B, 5% 1/1/22 (Escrowed to Maturity) (c) | 120,000 | 121,388 | |
Series 2013 B, 5% 1/1/22 (Escrowed to Maturity) | 100,000 | 101,181 | |
Series 2013 D, 5% 1/1/22 (Escrowed to Maturity) | 215,000 | 217,539 | |
Series 2015 A, 5% 1/1/24 (c) | 450,000 | 495,347 | |
Series 2016 C: | |||
5% 1/1/22 | 270,000 | 273,139 | |
5% 1/1/23 | 175,000 | 185,346 | |
Series 2016 D, 5% 1/1/22 | 100,000 | 101,162 | |
Series 2017 A, 5% 1/1/23 | 210,000 | 222,415 | |
Cook County Gen. Oblig.: | |||
Series 2012 C: | |||
5% 11/15/21 | 150,000 | 150,831 | |
5% 11/15/24 | 100,000 | 105,189 | |
Series 2014 A, 5% 11/15/21 | 100,000 | 100,554 | |
Series 2016 A, 5% 11/15/21 | 100,000 | 100,554 | |
Illinois Fin. Auth. Series 2020 A, 5% 8/15/22 | 100,000 | 104,148 | |
Illinois Fin. Auth. Rev.: | |||
Series 2014 A, 5% 10/1/21 | 100,000 | 100,000 | |
Series 2015 A: | |||
5% 11/15/21 | 200,000 | 201,087 | |
5% 11/15/22 | 245,000 | 257,899 | |
5% 11/15/23 | 150,000 | 164,629 | |
5% 11/15/24 | 100,000 | 113,857 | |
Series 2016 A, 5% 10/1/22 | 200,000 | 209,450 | |
Series 2016 C, 5% 2/15/24 | 105,000 | 116,626 | |
Series 2017 A, 5% 7/15/22 | 115,000 | 119,295 | |
Series 2019, 5% 4/1/23 | 100,000 | 107,021 | |
Illinois Gen. Oblig.: | |||
Series 2012: | |||
5% 8/1/22 (FSA Insured) | 100,000 | 103,920 | |
5% 8/1/24 | 120,000 | 124,511 | |
Series 2013, 5% 7/1/23 | 100,000 | 107,902 | |
Series 2017 D: | |||
5% 11/1/23 | 200,000 | 218,640 | |
5% 11/1/24 | 235,000 | 266,146 | |
Series 2021 A, 5% 3/1/23 | 70,000 | 74,517 | |
Series 2021 B, 5% 3/1/22 | 65,000 | 66,251 | |
Illinois Sales Tax Rev. Series 2021 A: | |||
3% 6/15/22 | 135,000 | 137,584 | |
4% 6/15/23 | 260,000 | 276,001 | |
4% 6/15/24 | 135,000 | 147,738 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev.: | |||
Series 2014 A, 5% 12/1/22 | 275,000 | 290,314 | |
Series 2014 D, 5% 1/1/22 | 175,000 | 177,052 | |
Series 2018 A, 5% 1/1/23 | 180,000 | 190,735 | |
Kendall, Kane & Will Counties Cmnty. Unit School District #308 Series 2008, 0% 2/1/22 (FSA Insured) | 250,000 | 249,554 | |
Railsplitter Tobacco Settlement Auth. Rev. Series 2017: | |||
5% 6/1/22 | 365,000 | 376,490 | |
5% 6/1/23 | 370,000 | 398,821 | |
5% 6/1/24 | 405,000 | 454,200 | |
Univ. of Illinois Rev. Series 2011 C, 4% 4/1/30 | 100,000 | 100,000 | |
TOTAL ILLINOIS | 8,015,340 | ||
Indiana - 1.3% | |||
Indiana Fin. Auth. Econ. Dev. Rev. Bonds (Republic Svcs., Inc. Proj.) Series A, 0.15%, tender 12/1/21 (b)(c) | 400,000 | 399,967 | |
Indiana Fin. Auth. Hosp. Rev.: | |||
Bonds: | |||
Series 2011 H, 1.65%, tender 1/1/22 (b) | 145,000 | 145,518 | |
Series 2015 B, 1.65%, tender 1/1/22 (b) | 50,000 | 50,179 | |
Series 2016 A, 5% 12/1/21 | 125,000 | 125,965 | |
Indiana Fin. Auth. Rev. (Butler Univ. Proj.) Series 2019, 4% 2/1/24 | 200,000 | 216,246 | |
Indiana Fin. Auth. Wastewtr. Util. Rev.: | |||
(CWA Auth. Proj.) Series 2016 A, 4% 10/1/21 | 100,000 | 100,000 | |
Series 2011 A, 5.25% 10/1/25 | 185,000 | 185,000 | |
Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Series 2017 A, 5% 1/1/23 | 100,000 | 105,951 | |
Indianapolis Local Pub. Impt. (Indianapolis Arpt. Auth. Proj.) Series 2015 I, 5% 1/1/23 (c) | 205,000 | 216,882 | |
Whiting Envir. Facilities Rev. Bonds (BP Products North America, Inc. Proj.) Series 2016 A, 5%, tender 3/1/23 (b)(c) | 200,000 | 212,848 | |
TOTAL INDIANA | 1,758,556 | ||
Kentucky - 1.8% | |||
Kenton County Arpt. Board Arpt. Rev. Series 2016, 5% 1/1/23 | 130,000 | 137,686 | |
Kentucky Econ. Dev. Fin. Auth. Bonds Series 2009 B, 2.7%, tender 11/10/21 (b) | 100,000 | 100,231 | |
Kentucky Econ. Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series B, 0.15%, tender 12/1/21 (b) | 100,000 | 99,992 | |
Kentucky State Property & Buildings Commission Rev.: | |||
Series 2016, 5% 11/1/23 | 675,000 | 740,417 | |
Series 2017, 5% 4/1/24 | 85,000 | 94,625 | |
Series 2018: | |||
5% 5/1/22 | 375,000 | 385,473 | |
5% 5/1/23 | 65,000 | 69,899 | |
Series C, 5% 11/1/21 | 155,000 | 155,567 | |
Kentucky, Inc. Pub. Energy: | |||
Bonds Series 2019 A1, 4%, tender 6/1/25 (b) | 150,000 | 167,203 | |
Series A, 4% 6/1/22 | 325,000 | 332,853 | |
Louisville & Jefferson County Series 2016 A, 5% 10/1/22 | 140,000 | 146,529 | |
TOTAL KENTUCKY | 2,430,475 | ||
Louisiana - 0.2% | |||
Louisiana Citizens Property Ins. Corp. Assessment Rev. Series 2015, 5% 6/1/22 (FSA Insured) | 100,000 | 103,155 | |
St. John Baptist Parish Rev. Bonds (Marathon Oil Corp.) Series 2017, 2%, tender 4/1/23 (b) | 100,000 | 101,671 | |
TOTAL LOUISIANA | 204,826 | ||
Maryland - 0.1% | |||
Maryland Health & Higher Edl. Facilities Auth. Rev. Series 2012 A, 3.25% 7/1/22 (Escrowed to Maturity) | 100,000 | 102,252 | |
Massachusetts - 2.1% | |||
Massachusetts Dept. of Trans. Metropolitan Hwy. Sys. Rev. Bonds Series 2019 A, 5%, tender 1/1/23 (b) | 150,000 | 158,752 | |
Massachusetts Dev. Fin. Agcy. Rev.: | |||
(Suffolk Univ. Proj.) Series 2017, 5% 7/1/22 | 200,000 | 206,841 | |
Bonds Series S3, SIFMA Municipal Swap Index + 0.500% 0.55%, tender 1/26/23 (b)(d) | 200,000 | 200,337 | |
Series 2015 C, 5% 10/1/22 | 100,000 | 104,643 | |
Series 2017 S, 5% 7/1/22 | 100,000 | 103,573 | |
Series 2018 A, 5% 10/1/21 | 100,000 | 100,000 | |
Series 2020 A, 5% 10/1/22 | 340,000 | 356,204 | |
Series Q, 5% 7/1/22 | 105,000 | 108,752 | |
Massachusetts Edl. Fing. Auth. Rev.: | |||
Series 2014 I, 5% 1/1/25 (c) | 310,000 | 352,887 | |
Series 2015 A, 5% 1/1/24 (c) | 580,000 | 637,487 | |
Series 2016, 5% 7/1/24 (c) | 15,000 | 16,806 | |
Massachusetts Port Auth. Rev. Series 2019 C, 5% 7/1/23 (c) | 150,000 | 162,177 | |
Massachusetts Tpk. Auth. Metropolitan Hwy. Sys. Rev.: | |||
Series 1997 A, 0% 1/1/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 115,000 | 113,555 | |
Series 1997 C, 0% 1/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 120,000 | 119,319 | |
TOTAL MASSACHUSETTS | 2,741,333 | ||
Michigan - 2.1% | |||
Lapeer Cmnty. Schools Series 2016, 5% 5/1/25 | 125,000 | 145,012 | |
Michigan Fin. Auth. Rev.: | |||
Bonds: | |||
Series 2016 MI2, SIFMA Municipal Swap Index + 0.480% 0.53%, tender 10/7/21 (b)(d) | 200,000 | 200,026 | |
Series 2019 B, 3.5%, tender 11/15/22 (b) | 70,000 | 72,439 | |
Series 2012, 5% 11/1/22 | 100,000 | 105,195 | |
Series 2015 A: | |||
5% 5/15/22 | 150,000 | 154,376 | |
5% 8/1/22 | 125,000 | 129,890 | |
Series 2015 MI, 5% 12/1/21 | 800,000 | 806,201 | |
Series 2017 A, 5% 12/1/21 | 100,000 | 100,775 | |
Michigan Gen. Oblig. Series 2016, 5% 3/15/23 | 100,000 | 106,739 | |
Michigan Hosp. Fin. Auth. Rev. Series 2012 A, 5% 6/1/22 | 100,000 | 103,128 | |
Royal Oak Hosp. Fin. Auth. Hosp. Rev. Series 2014 D, 3% 9/1/22 | 125,000 | 128,113 | |
Wayne County Arpt. Auth. Rev.: | |||
Series 2017 C, 5% 12/1/22 | 125,000 | 131,991 | |
Sseries 2012 A, 5% 12/1/21 | 100,000 | 100,772 | |
Wayne-Westland Cmnty. Schools Series 2019, 4% 11/1/21 | 165,000 | 165,474 | |
Western Michigan Univ. Rev.: | |||
Series 2011, 5% 11/15/21 | 130,000 | 130,714 | |
Series 2013, 5% 11/15/21 | 165,000 | 165,907 | |
TOTAL MICHIGAN | 2,746,752 | ||
Minnesota - 1.0% | |||
Minneapolis & Saint Paul Hsg. & Redev. Auth. Health Care Sys. Rev. Series 2017 A, 5% 11/15/21 | 100,000 | 100,550 | |
Minnesota Muni. Pwr. Agcy. Elec. Rev. Series 2016, 5% 10/1/21 | 225,000 | 225,000 | |
Rochester Health Care Facilities Rev. Bonds (Mayo Foundation Proj.) Series C, 4.5%, tender 11/15/21 (b) | 200,000 | 200,974 | |
Saint Cloud Health Care Rev. Series 2014 B, 5% 5/1/23 | 205,000 | 220,012 | |
Southern Minnesota Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Series 2015 A, 5% 1/1/23 | 200,000 | 211,308 | |
Western Minnesota Muni. Pwr. Agcy. Pwr. Supply Rev. Series 2014 A, 5% 1/1/22 | 410,000 | 414,786 | |
TOTAL MINNESOTA | 1,372,630 | ||
Missouri - 0.2% | |||
Missouri Health & Edl. Facilities Rev. Series 2014 A, 5% 6/1/23 | 235,000 | 253,592 | |
Montana - 0.1% | |||
Montana Facility Fin. Auth. Rev. Series 2019 A, 5% 1/1/23 | 100,000 | 105,925 | |
Nebraska - 0.7% | |||
Lincoln Arpt. Auth. Series 2021, 5% 7/1/25 (c) | 550,000 | 639,113 | |
Nebraska Pub. Pwr. District Rev. Series 2015 A2, 5% 1/1/24 | 145,000 | 146,695 | |
Omaha Pub. Pwr. District Elec. Rev. Series 2014 AA, 5% 2/1/22 | 100,000 | 101,565 | |
TOTAL NEBRASKA | 887,373 | ||
Nevada - 0.5% | |||
Clark County School District Series 2016 A: | |||
5% 6/15/22 | 215,000 | 222,257 | |
5% 6/15/24 | 155,000 | 174,266 | |
Washoe County Gas & Wtr. Facilities Bonds (Sierra Pacific Pwr. Co. Proj.) Series 2016 B, 3%, tender 6/1/22 (b) | 100,000 | 101,753 | |
Washoe County Gas Facilities Rev. Bonds Series 2016 F, 2.05%, tender 4/15/22 (b)(c) | 100,000 | 100,885 | |
TOTAL NEVADA | 599,161 | ||
New Jersey - 5.8% | |||
New Jersey Econ. Dev. Auth. Rev.: | |||
(New Jersey Gen. Oblig. Proj.) Series 2017 B, 5% 11/1/24 | 185,000 | 210,259 | |
(New Jersey Transit Corp. Projs.) Series 2017 B, 5% 11/1/21 | 600,000 | 602,158 | |
Series 2005 N1, 5.5% 9/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 200,000 | 219,655 | |
Series 2012 II, 5% 3/1/22 | 400,000 | 407,725 | |
Series 2013 NN 5% 3/1/22 | 100,000 | 101,931 | |
Series 2015 XX, 4% 6/15/22 | 285,000 | 292,391 | |
Series 2019, 5.25% 9/1/24 (e) | 200,000 | 226,249 | |
New Jersey Gen. Oblig.: | |||
Series 2020 A, 5% 6/1/24 | 140,000 | 157,007 | |
Series O, 5.25% 8/1/22 | 215,000 | 223,872 | |
New Jersey Health Care Facilities Fing. Auth. Rev.: | |||
Series 2016 A: | |||
5% 7/1/22 | 100,000 | 103,482 | |
5% 7/1/23 | 240,000 | 260,010 | |
Series 2017 A, 5% 7/1/23 | 135,000 | 146,256 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | |||
Series 2013, 5% 12/1/22 (c) | 195,000 | 205,320 | |
Series 2015 1A: | |||
5% 12/1/21 (c) | 600,000 | 604,593 | |
5% 12/1/22 (c) | 100,000 | 105,352 | |
Series 2016 1A: | |||
5% 12/1/22 (c) | 100,000 | 105,412 | |
5% 12/1/23 (c) | 100,000 | 109,903 | |
5% 12/1/24 (c) | 170,000 | 194,026 | |
Series 2017 1A, 5% 12/1/24 (c) | 350,000 | 398,518 | |
Series 2019 A, 5% 12/1/22 | 15,000 | 15,812 | |
Series 2021 A, 5% 12/1/23 (c) | 200,000 | 219,214 | |
New Jersey Hsg. & Mtg. Fin. Agcy. Rev. Series 2019 D, 4% 10/1/22 (c) | 100,000 | 103,349 | |
New Jersey Tobacco Settlement Fing. Corp. Series 2018 A: | |||
5% 6/1/23 | 300,000 | 322,213 | |
5% 6/1/24 | 255,000 | 284,759 | |
New Jersey Trans. Trust Fund Auth.: | |||
Series 2004 A, 5.75% 6/15/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 100,000 | 118,932 | |
Series 2005 B, 5.5% 12/15/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 100,000 | 101,044 | |
Series 2006 A: | |||
5.25% 12/15/22 | 160,000 | 169,464 | |
5.5% 12/15/21 | 100,000 | 101,044 | |
Series 2006 C, 0% 12/15/24 | 260,000 | 254,976 | |
Series 2014 AA, 5% 6/15/25 | 100,000 | 111,875 | |
Series 2016 A, 5% 6/15/22 | 100,000 | 103,289 | |
Series 2018 A, 5% 6/15/22 | 210,000 | 216,907 | |
Passaic Valley Swr. Series H, 5% 12/1/21 (FSA Insured) | 215,000 | 216,590 | |
Rutgers State Univ. Rev.: | |||
Series 2013 J, 5% 5/1/22 | 200,000 | 205,480 | |
Series 2013 L, 5% 5/1/22 | 105,000 | 107,877 | |
Series M, 5% 5/1/22 | 150,000 | 154,110 | |
Union County Gen. Oblig. Series 2020, 0.5% 3/1/22 | 100,000 | 100,088 | |
TOTAL NEW JERSEY | 7,581,142 | ||
New Mexico - 0.3% | |||
New Mexico Muni. Energy Acquisition Auth. Gas Supply Rev. Bonds Series 2019 A, 5%, tender 5/1/25 (b) | 150,000 | 172,420 | |
New Mexico Severance Tax Rev. Series 2016 B, 4% 7/1/22 | 250,000 | 257,158 | |
TOTAL NEW MEXICO | 429,578 | ||
New York - 3.7% | |||
Monroe County Indl. Dev. Corp. Series 2015 A, 5% 7/1/22 | 225,000 | 233,109 | |
New York City Gen. Oblig.: | |||
Series 2016 A, 5% 8/1/22 | 110,000 | 114,397 | |
Series 2016, 5% 8/1/22 | 100,000 | 103,997 | |
Series I1, 5% 3/1/22 | 100,000 | 101,986 | |
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev. Series 2017 CC, 5% 6/15/23 | 105,000 | 106,001 | |
New York City Transitional Fin. Auth. Rev.: | |||
Series 2012 A, 5% 11/1/21 | 145,000 | 145,533 | |
Series 2017 C, 5% 11/1/21 | 245,000 | 245,900 | |
New York Dorm. Auth. Rev.: | |||
Series 2012 A, 5% 10/1/21 | 150,000 | 150,000 | |
Series 2015 A, 4% 7/1/22 | 100,000 | 102,863 | |
Series 2016, 5% 10/1/21 | 105,000 | 105,000 | |
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev. Series 2008 B4, 5% 11/15/21 | 100,000 | 100,567 | |
New York Metropolitan Trans. Auth. Rev.: | |||
Series 2002 D1, 5% 11/1/22 | 100,000 | 104,967 | |
Series 2008 B2, 5% 11/15/22 | 500,000 | 525,719 | |
Series 2011 C, 5% 11/15/21 | 265,000 | 266,439 | |
Series 2012 D, 5% 11/15/21 | 140,000 | 140,760 | |
Series 2012 F, 5% 11/15/22 | 350,000 | 368,004 | |
Series 2012 H, 4% 11/15/21 | 115,000 | 115,494 | |
Series 2014 A2, 5% 11/15/22 | 250,000 | 262,860 | |
Series 2015 B, 5% 11/15/22 | 100,000 | 105,144 | |
Series 2015 F, 5% 11/15/22 | 100,000 | 105,144 | |
Series 2016 D, 5% 11/15/21 | 275,000 | 276,494 | |
Series 2017 B, 5% 11/15/23 | 390,000 | 426,230 | |
Series 2020 A, 5% 2/1/23 | 200,000 | 212,169 | |
New York State Dorm. Auth. Series 2017 A: | |||
5% 2/15/23 | 30,000 | 31,971 | |
5% 2/15/23 (Escrowed to Maturity) | 95,000 | 101,153 | |
Syracuse Gen. Oblig. Series 2017 A, 5% 5/1/22 (FSA Insured) | 120,000 | 123,316 | |
Triborough Bridge & Tunnel Auth. Revs.: | |||
Series 2002 E, 5.5% 11/15/21 | 120,000 | 120,728 | |
Series 2012 B, 4% 11/15/21 | 125,000 | 125,555 | |
TOTAL NEW YORK | 4,921,500 | ||
New York And New Jersey - 1.6% | |||
Port Auth. of New York & New Jersey: | |||
Series 175, 5% 12/1/21 | 535,000 | 539,095 | |
Series 177, 5% 7/15/23 (c) | 235,000 | 248,875 | |
Series 178, 5% 12/1/23 (c) | 135,000 | 148,308 | |
Series 186: | |||
5% 10/15/21 (c) | 170,000 | 170,249 | |
5% 10/15/23 (c) | 100,000 | 109,343 | |
Series 195, 5% 10/1/21 (c) | 160,000 | 160,000 | |
Series 2012 172, 5% 10/1/23 (c) | 100,000 | 102,376 | |
Series 2017 202, 5% 10/15/23 (c) | 225,000 | 246,021 | |
Series 2017 205, 5% 11/15/21 | 350,000 | 351,927 | |
TOTAL NEW YORK AND NEW JERSEY | 2,076,194 | ||
North Carolina - 0.4% | |||
Charlotte Int'l. Arpt. Rev. Series 2017 B: | |||
5% 7/1/22 (c) | 115,000 | 119,092 | |
5% 7/1/23 (c) | 130,000 | 140,696 | |
Charlotte-Mecklenburg Hosp. Auth. Health Care Sys. Rev. Bonds Series 2021 B, 5%, tender 12/2/24 (b) | 115,000 | 131,459 | |
North Carolina Muni. Pwr. Agcy. #1 Catawba Elec. Rev. Series 2015 E, 5% 1/1/22 | 125,000 | 126,444 | |
TOTAL NORTH CAROLINA | 517,691 | ||
Ohio - 1.2% | |||
Allen County Hosp. Facilities Rev. Bonds (Mercy Health) Series 2017 B, 5%, tender 5/5/22 (b) | 155,000 | 159,170 | |
Franklin County Hosp. Facilities Rev. Bonds (Ohio Health Corp.) Series 2018 B, SIFMA Municipal Swap Index + 0.430% 0.48%, tender 10/7/21 (b)(d) | 100,000 | 100,006 | |
Ohio Higher Edl. Facility Commission Rev.: | |||
(Case Western Reserve Univ. Proj.): | |||
Series 2012 A, 5% 12/1/21 | 150,000 | 151,148 | |
Series 2016, 5% 12/1/22 | 100,000 | 105,545 | |
Series 2012 A, 5% 1/1/23 | 150,000 | 151,753 | |
Ohio Hosp. Facilities Rev. Series 2017 A: | |||
5% 1/1/22 | 125,000 | 126,468 | |
5% 1/1/25 | 215,000 | 246,913 | |
Wright State Univ. Gen. Receipts Series 2021 A, 4% 5/1/23 (Build America Mutual Assurance Insured) | 500,000 | 528,524 | |
TOTAL OHIO | 1,569,527 | ||
Oklahoma - 0.2% | |||
Grand River Dam Auth. Rev. Series 2016 A, 5% 6/1/22 | 175,000 | 180,568 | |
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Series 2015 A, 5% 8/15/22 | 100,000 | 104,006 | |
TOTAL OKLAHOMA | 284,574 | ||
Oregon - 0.6% | |||
Oregon Bus. Dev. Commission Bonds Series 250, 5%, tender 3/1/22 (b)(c) | 155,000 | 157,877 | |
Oregon Bus. Dev. Commission Recovery Zone Facility Bonds (Intel Corp. Proj.) Series 232, 2.4%, tender 8/14/23 (b) | 125,000 | 129,471 | |
Oregon Facilities Auth. Rev. (Legacy Health Proj.) Series 2016 A, 5% 6/1/22 | 150,000 | 154,691 | |
Port of Portland Arpt. Rev. Series 26 C, 5% 7/1/24 (c) | 300,000 | 336,553 | |
TOTAL OREGON | 778,592 | ||
Pennsylvania - 3.2% | |||
Allegheny County Hosp. Dev. Auth. Rev. Series 2019 A, 5% 7/15/23 | 315,000 | 341,720 | |
Bucks Co. Indl. Dev. Auth. Solid Waste Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2002, 2.75%, tender 12/1/22 (b)(c) | 100,000 | 102,795 | |
Chester County Health & Ed. Facilities Auth. Health Sys. Rev. Series 2020 B, 5% 6/1/23 | 1,000,000 | 1,079,810 | |
Dauphin County Gen. Auth. (Pinnacle Health Sys. Proj.) Series 2016 A, 5% 6/1/23 | 100,000 | 107,876 | |
Delaware County Auth. Univ. Rev. Series 2014, 5% 8/1/23 | 150,000 | 162,690 | |
Geisinger Auth. Health Sys. Rev. Series 2020 A, 5% 4/1/22 | 85,000 | 87,014 | |
Lehigh County Indl. Dev. Auth. Poll. Cont. Rev. Bonds (PPL Elec. Utils. Corp. Proj.) Series 2016 A, 1.8%, tender 9/1/22 (b) | 30,000 | 30,382 | |
Pennsylvania Econ. Dev. Fing. Auth.: | |||
Series 2017 A, 4% 11/15/21 | 315,000 | 316,402 | |
Series 2020 A, 5% 4/15/22 | 130,000 | 133,351 | |
Pennsylvania Econ. Dev. Fing. Auth. Indl. Dev. Rev. Series 2016, 5% 3/15/22 | 100,000 | 102,174 | |
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev.: | |||
(Waste Mgmt., Inc. Proj.) Series 2004 A, 2.15% 11/1/21 (b) | 100,000 | 100,145 | |
Bonds: | |||
(Republic Svcs., Inc. Proj.) Series 2019 B1, 0.2%, tender 10/15/21 (b)(c) | 300,000 | 299,996 | |
(Waste Mgmt., Inc. Proj.): | |||
Series 2009, 2.8%, tender 12/1/21 (b) | 100,000 | 100,416 | |
Series 2021 A, SIFMA Municipal Swap Index + 0.400% 0.45%, tender 6/3/24 (b)(c)(d) | 100,000 | 100,351 | |
Pennsylvania Gen. Oblig.: | |||
Series 2 2013, 5% 10/15/21 | 100,000 | 100,150 | |
Series 2011, 5% 11/15/21 | 100,000 | 100,558 | |
Pennsylvania Higher Edl. Facilities Auth. Rev. Series 2012 A, 5% 8/15/22 | 100,000 | 104,184 | |
Pennsylvania Hsg. Fin. Agcy. Series 2021 135 B: | |||
5% 4/1/23 (c) | 10,000 | 10,687 | |
5% 4/1/24 (c) | 10,000 | 11,087 | |
5% 4/1/25 (c) | 15,000 | 17,179 | |
Philadelphia Arpt. Rev.: | |||
Series 2017 B, 5% 7/1/22 | 200,000 | 207,101 | |
Series 2021, 5% 7/1/25 (c) | 100,000 | 116,041 | |
Philadelphia Auth. for Indl. Dev. Series 2016 1, 5% 4/1/22 | 210,000 | 214,987 | |
Philadelphia Gas Works Rev. Series 2015 13: | |||
5% 8/1/22 | 200,000 | 207,824 | |
5% 8/1/24 | 100,000 | 112,350 | |
TOTAL PENNSYLVANIA | 4,267,270 | ||
Pennsylvania, New Jersey - 0.2% | |||
Delaware River Port Auth. Pennsylvania & New Jersey Rev. (Port District Proj.) Series 2012, 5% 1/1/24 | 225,000 | 238,139 | |
Rhode Island - 0.6% | |||
Rhode Island Health and Edl. Bldg. Corp. Higher Ed. Facility Rev.: | |||
Series 2012, 5% 11/1/24 | 115,000 | 120,601 | |
Series 2015: | |||
5% 11/1/21 | 440,000 | 441,569 | |
5% 11/1/22 | 210,000 | 220,629 | |
TOTAL RHODE ISLAND | 782,799 | ||
South Carolina - 1.3% | |||
Charleston County Arpt. District Series 2013 A, 5.25% 7/1/22 (c) | 320,000 | 331,856 | |
Greenville Hosp. Sys. Facilities Rev. Series 2012, 5% 5/1/23 | 170,000 | 174,502 | |
Patriots Energy Group Fing. Agcy. Bonds Series 2018 A, 4%, tender 2/1/24 (b) | 545,000 | 586,635 | |
South Carolina Pub. Svc. Auth. Rev.: | |||
Series 2011 B, 4% 12/1/21 (Escrowed to Maturity) | 100,000 | 100,608 | |
Series 2016 C, 5% 12/1/22 | 100,000 | 105,545 | |
Series A: | |||
5% 12/1/21 | 200,000 | 201,531 | |
5% 12/1/21 | 270,000 | 272,067 | |
TOTAL SOUTH CAROLINA | 1,772,744 | ||
Tennessee - 1.4% | |||
Memphis-Shelby County Arpt. Auth. Arpt. Rev. Series 2020 B, 5% 7/1/22 (c) | 1,000,000 | 1,035,123 | |
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (b) | 715,000 | 805,864 | |
TOTAL TENNESSEE | 1,840,987 | ||
Texas - 3.5% | |||
Austin Arpt. Sys. Rev. Series 2019: | |||
5% 11/15/21 (c) | 100,000 | 100,541 | |
5% 11/15/24 (c) | 125,000 | 142,238 | |
Dallas Fort Worth Int'l. Arpt. Rev.: | |||
Series 2013 D, 5% 11/1/21 | 120,000 | 120,441 | |
Series 2014 B, 5% 11/1/22 (c) | 100,000 | 105,084 | |
Series 2014 D, 5% 11/1/21 (c) | 100,000 | 100,358 | |
Series 2020 B, 5% 11/1/21 | 100,000 | 100,367 | |
Dallas Gen. Oblig. Series 2014, 5% 2/15/22 | 140,000 | 142,473 | |
Harris County Cultural Ed. Facilities Fin. Corp. Med. Facilities Rev. Series 2012 A, 5% 11/15/21 (Escrowed to Maturity) | 235,000 | 236,308 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev.: | |||
Bonds: | |||
Series 2019 B, 5%, tender 12/1/24 (b) | 205,000 | 233,605 | |
Series 2019 C, SIFMA Municipal Swap Index + 0.420% 0.47%, tender 12/1/22 (b)(d) | 215,000 | 214,927 | |
Series 2013 A, 5% 12/1/22 | 300,000 | 316,706 | |
Series 2015-1, 5% 10/1/21 | 670,000 | 670,000 | |
Harris County Gen. Oblig. Series 2012 C, 5% 8/15/24 | 100,000 | 104,131 | |
Houston Arpt. Sys. Rev. Series 2012 A, 5% 7/1/31 (Pre-Refunded to 7/1/22 @ 100) (c) | 100,000 | 103,532 | |
Houston Util. Sys. Rev. Series 2012 D, 5% 11/15/21 | 100,000 | 100,558 | |
Lower Colorado River Auth. Rev.: | |||
(LCRA Transmission Svcs. Corp. Proj.): | |||
Series 2015, 5% 5/15/23 | 215,000 | 231,598 | |
Series 2016, 5% 5/15/22 | 200,000 | 205,936 | |
Series 2012 A, 5% 5/15/24 | 175,000 | 180,161 | |
North Texas Tollway Auth. Rev.: | |||
(Sub Lien) Series 2017 B, 5% 1/1/24 | 150,000 | 158,752 | |
Series 2017 B, 5% 1/1/23 | 105,000 | 111,167 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev.: | |||
Series 2013, 5% 10/1/22 | 350,000 | 366,609 | |
Series 2014, 5% 12/1/22 | 220,000 | 232,225 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev. Series 2018 A, 5% 7/1/22 | 205,000 | 212,216 | |
Texas Gen. Oblig. Series 2015 A, 5% 10/1/21 | 100,000 | 100,000 | |
TOTAL TEXAS | 4,589,933 | ||
Utah - 0.2% | |||
Salt Lake City Arpt. Rev. Series 2018 A, 5% 7/1/24 (c) | 105,000 | 117,793 | |
Utah County Hosp. Rev. Series 2016 A, 5% 5/15/23 | 110,000 | 118,473 | |
TOTAL UTAH | 236,266 | ||
Virginia - 0.2% | |||
Gloucester County Indl. Dev. Auth. Bonds Series 2003 A, 2.4%, tender 5/2/22 (b)(c) | 120,000 | 121,433 | |
Halifax County Indl. Dev. Auth. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2010 A, 0.45%, tender 4/1/22 (b) | 85,000 | 85,068 | |
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 | 102,598 | |
TOTAL VIRGINIA | 309,099 | ||
Washington - 0.9% | |||
Port of Seattle Rev.: | |||
Series 2015 B, 5% 3/1/24 | 100,000 | 111,169 | |
Series 2016, 5% 2/1/25 | 120,000 | 137,955 | |
Series 2021 C: | |||
5% 8/1/23 (c) | 100,000 | 108,364 | |
5% 8/1/24 (c) | 105,000 | 118,220 | |
Tobacco Settlement Auth. Rev.: | |||
Series 2013, 5% 6/1/22 | 200,000 | 205,957 | |
Series 2018, 5% 6/1/23 | 155,000 | 166,433 | |
Washington Fed. Hwy. Grant Anticipation Rev.: | |||
(Sr 520 Corridor Prog.) Series 2012 F, 5% 9/1/24 | 100,000 | 104,285 | |
Series 2012 F, 5% 9/1/22 | 100,000 | 104,397 | |
Washington Health Care Facilities Auth. Rev. (Providence Health Systems Proj.) Series 2011 B, 5% 10/1/21 | 125,000 | 125,000 | |
TOTAL WASHINGTON | 1,181,780 | ||
West Virginia - 0.4% | |||
Harrison County Commission Solid Waste Disp. Rev. Bonds (Monongahela Pwr. Co. Proj.) Series 2018 A, 3%, tender 10/15/21 (b)(c) | 400,000 | 400,234 | |
Mason Co. Poll. Cont. Rev. (Appalachian Pwr. Co. Proj.) Series 2003 L, 2.75% 10/1/22 | 100,000 | 102,326 | |
TOTAL WEST VIRGINIA | 502,560 | ||
Wisconsin - 1.4% | |||
Blue Ridge Healthcare Pub. Fin. Auth. Series 2020 A, 5% 1/1/22 | 175,000 | 176,995 | |
Milwaukee County Arpt. Rev. Series 2016 E, 5% 12/1/21 (c) | 150,000 | 151,124 | |
Pub. Fin. Auth. Hosp. Rev. Series 2020 A, 5% 6/1/22 | 100,000 | 103,128 | |
Pub. Fin. Auth. Solid Waste Bonds (Waste Mgmt., Inc. Proj.) Series 2017 A, 0.2%, tender 11/1/21 (b)(c) | 400,000 | 399,979 | |
Wisconsin Gen. Oblig. Series 1, 5% 11/1/22 | 175,000 | 184,130 | |
Wisconsin Health & Edl. Facilities: | |||
(Agnesian Healthcare Proj.) Series 2017, 5% 7/1/23 | 100,000 | 108,173 | |
(Hosp. Sisters Svcs., Inc.) Series 2014 A, 5% 11/15/22 | 100,000 | 105,277 | |
Bonds: | |||
Series 2018 B: | |||
5%, tender 1/26/22 (b) | 100,000 | 101,425 | |
5%, tender 1/25/23 (b) | 110,000 | 116,503 | |
Series 2018 C, SIFMA Municipal Swap Index + 0.450% 0.5%, tender 10/7/21 (b)(d) | 155,000 | 155,113 | |
Series 2013 B1: | |||
4% 11/15/21 | 100,000 | 100,439 | |
4% 11/15/22 | 150,000 | 156,385 | |
TOTAL WISCONSIN | 1,858,671 | ||
Wyoming - 0.0% | |||
Wyoming Cmnty. Dev. Auth. Hsg. Rev. Series 2020 3, 5% 12/1/21 (c) | 55,000 | 55,407 | |
TOTAL MUNICIPAL BONDS (Cost $78,428,615) | 78,603,750 | ||
Municipal Notes - 38.0% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.1% | |||
Birmingham Indl. Dev. Board Solid Waste Rev. (American Cast Iron Pipe Co. Proj.) Series 2000, 0.22% 10/7/21, LOC Bank of America NA, VRDN (b)(c) | 180,000 | 180,000 | |
Arizona - 1.7% | |||
Arizona St Indl. Dev. Auth. Multi Participating VRDN Series XF 10 91, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 100,000 | 100,000 | |
Maricopa County Poll. Cont. Rev.: | |||
Series 2010 A, 0.11% 10/7/21, VRDN (b) | 300,000 | 300,000 | |
Series 2010 B, 0.11% 10/7/21, VRDN (b) | 1,700,000 | 1,700,000 | |
Phoenix Civic Impt. Board Arpt. Rev. Participating VRDN Series XM 08 23, 0.17% 10/7/21 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 100,000 | 100,000 | |
TOTAL ARIZONA | 2,200,000 | ||
California - 0.8% | |||
River Islands Pub. Fing. Auth. Participating VRDN Series MIZ 90 26, 0.3% 11/4/21 (Liquidity Facility Mizuho Cap. Markets Llc) (b)(f)(g)(h) | 200,000 | 200,000 | |
Sacramento Gen. Oblig. Participating VRDN Series XG 00 67, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN: | |||
Series Floaters XM 06 75, 0.17% 10/7/21 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 100,000 | 100,000 | |
Series XM 09 16, 0.11% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 110,000 | 110,000 | |
Series ZM 06 42, 0.11% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 100,000 | 100,000 | |
San Francisco City & County Hsg. Multi-family Series 2004, 0.09% 10/7/21, LOC Citibank NA, VRDN (b)(c) | 250,000 | 250,000 | |
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN Series DBE 8059, 0.46% 11/29/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL CALIFORNIA | 1,060,000 | ||
Colorado - 1.2% | |||
Denver City & County Arpt. Rev. Participating VRDN Series Floaters XL 00 90, 0.17% 10/7/21 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 1,525,000 | 1,525,000 | |
Connecticut - 0.4% | |||
Connecticut Health & Edl. Facilities Auth. Rev. Series 2003 A, 0.08% 10/7/21, LOC Citizens Bank NA, VRDN (b) | 585,000 | 585,000 | |
Delaware - 0.2% | |||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1994, 0.14% 10/1/21, VRDN (b)(c) | 300,000 | 300,000 | |
Florida - 0.8% | |||
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Participating VRDN Series XM 08 91, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 100,000 | 100,000 | |
Miami-Dade County Participating VRDN: | |||
Series XF 29 47, 0.11% 10/7/21 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 300,000 | 300,000 | |
Series XF 29 48, 0.1% 10/7/21 (Liquidity Facility Citibank NA) (b)(f)(g) | 300,000 | 300,000 | |
Miami-Dade County Aviation Rev. Participating VRDN Series XM 08 70, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 100,000 | 100,000 | |
Miami-Dade County Wtr. & Swr. Rev. Participating VRDN Series 2021 XF 11 01, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL FLORIDA | 1,000,000 | ||
Hawaii - 0.1% | |||
Hawaii Arpts. Sys. Rev. Participating VRDN Series XF 07 65, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 200,000 | 200,000 | |
Illinois - 3.0% | |||
Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN: | |||
Series Floaters XL 00 49, 0.13% 10/7/21 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 910,000 | 910,000 | |
Series XM 08 79, 0.12% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Series XM 08 84, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 100,000 | 100,000 | |
Series XM 09 17, 0.12% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Illinois Fin. Auth. Participating VRDN Series 2021 XL 01 72, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 140,000 | 140,000 | |
Illinois Fin. Auth. Rev. Series 2007, 0.1% 10/7/21, LOC JPMorgan Chase Bank, VRDN (b)(c) | 1,270,000 | 1,270,000 | |
Illinois Gen. Oblig. Participating VRDN Series Floaters XM 01 86, 0.21% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 520,000 | 520,000 | |
Metropolitan Pier & Exposition Participating VRDN Series XF 09 65, 0.13% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 200,000 | 200,000 | |
Village of Lake Villa Rev. Series 2001, 0.09% 10/7/21, LOC Wells Fargo Bank NA, VRDN (b) | 415,000 | 415,000 | |
Village of Oswego Indl. Dev. (Griffith Laboratories Worldwide, Inc.) Series 1995, 0.25% 10/7/21, LOC Wells Fargo Bank NA, VRDN (b)(c) | 120,000 | 120,000 | |
TOTAL ILLINOIS | 3,875,000 | ||
Indiana - 0.8% | |||
Indiana Fin. Auth. Econ. Dev. Rev. Series 2006, 0.09% 10/7/21, LOC PNC Bank NA, VRDN (b)(c) | 475,000 | 475,000 | |
Indiana Fin. Auth. Solid Waste Dis (New Holland Dairy Leasing LLC Proj.) Series 2007, 0.12% 10/7/21, LOC Bank of America NA, VRDN (b)(c) | 500,000 | 500,000 | |
Indianapolis Local Pub. Impt. Participating VRDN Series XM 09 27, 0.11% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
TOTAL INDIANA | 1,075,000 | ||
Kentucky - 1.8% | |||
Kentucky Econ. Dev. Fin. Auth. (Catholic Health Initiatives Proj.) Series C, 0.09% 10/7/21, VRDN (b) | 500,000 | 500,000 | |
Kentucky Econ. Dev. Fin. Auth. Hosp. Rev. Participating VRDN Series XM 09 19, 0.12% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Kentucky Tpk. Auth. Econ. Dev. Road Rev. Participating VRDN Series XF 24 84, 0.13% 10/7/21 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 100,000 | 100,000 | |
Lexington-Fayette Urban County K (Var-Cmnty. Action Council Proj.) Series 2003, 0.09% 10/7/21, LOC PNC Bank NA, VRDN (b) | 590,000 | 590,000 | |
Maysville Indl. Bldg. Rev. Series 1996, 0.1% 10/7/21, LOC MUFG Union Bank NA, VRDN (b)(c) | 400,000 | 400,000 | |
Meade County Indl. Bldg. Rev. (Nucor Steel Brandenburg Proj.): | |||
Series 2020 A1, 0.12% 10/1/21, VRDN (b)(c) | 100,000 | 100,000 | |
Series 2020 B1, 0.12% 10/1/21, VRDN (b)(c) | 600,000 | 600,000 | |
TOTAL KENTUCKY | 2,390,000 | ||
Louisiana - 6.5% | |||
Calcasieu Parish IDB Series 1998, 0.07% 10/7/21, LOC JPMorgan Chase Bank, VRDN (b)(c) | 3,900,000 | 3,900,000 | |
Calcasieu Parish Pub. Trust Auth. Solid Waste Disp. Rev. Series 1997, 0.07% 10/7/21, LOC Bank of America NA, VRDN (b)(c) | 100,000 | 100,000 | |
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.): | |||
Series 2010 A1, 0.09% 10/7/21, VRDN (b) | 2,300,000 | 2,300,000 | |
Series 2010 B1, 0.09% 10/7/21, VRDN (b) | 2,200,000 | 2,200,000 | |
TOTAL LOUISIANA | 8,500,000 | ||
Maryland - 0.1% | |||
Maryland Gen. Oblig. Participating VRDN Series DB 807, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 95,000 | 95,000 | |
Massachusetts - 0.1% | |||
Massachusetts Edl. Fing. Auth. Rev. Participating VRDN Series Floaters XF 23 06, 0.3% 10/7/21 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 100,000 | 100,000 | |
Michigan - 0.4% | |||
Michigan Bldg. Auth. Rev. Participating VRDN Series 2021 XF 11 15, 0.09% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Michigan Strategic Fund Ltd. Oblig. Rev. Series 2005, 0.09% 10/7/21, LOC PNC Bank NA, VRDN (b)(c) | 490,000 | 490,000 | |
TOTAL MICHIGAN | 590,000 | ||
Minnesota - 0.1% | |||
Minneapolis Health Care Sys. Rev. Participating VRDN Series XM 08 72, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Missouri - 0.1% | |||
Missouri Health & Edl. Facilities Auth. Edl. Facilities Rev. Participating VRDN Series XG 01 76, 0.17% 10/7/21 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 100,000 | 100,000 | |
Montana - 0.1% | |||
Montana Facility Fin. Auth. Participating VRDN Series 2021 XF 11 14, 0.09% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
New Jersey - 3.5% | |||
New Jersey Econ. Dev. Auth. Rev. Participating VRDN Series Floaters XL 00 52, 0.08% 10/7/21 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,225,000 | 3,225,000 | |
New Jersey Tpk. Auth. Tpk. Rev. Participating VRDN Series XM 09 12, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 120,000 | 120,000 | |
New Jersey Trans. Trust Fund Auth. Participating VRDN Series Floaters XG 02 05, 0.08% 10/7/21 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,300,000 | 1,300,000 | |
TOTAL NEW JERSEY | 4,645,000 | ||
New York - 1.5% | |||
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev. Participating VRDN Series ZM 06 00, 0.1% 10/7/21 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 100,000 | 100,000 | |
New York Metropolitan Trans. Auth. Rev.: | |||
BAN Series 2019 D1, 5% 9/1/22 | 1,115,000 | 1,162,012 | |
Participating VRDN Series ZF 02 18, 0.21% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 200,000 | 200,000 | |
New York Thruway Auth. Gen. Rev. Participating VRDN: | |||
Series XF 09 18, 0.1% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Series XM 08 30, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Series XM 08 80, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Putnam County Indl. Dev. Agcy. Rev. Series 2006 A, 0.23% 10/7/21, LOC Citizens Bank NA, VRDN (b) | 100,000 | 100,000 | |
Triborough Bridge & Tunnel Auth. Revs. Participating VRDN Series RBC 16 ZM 0138, 0.16% 10/7/21 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 100,000 | 100,000 | |
TOTAL NEW YORK | 1,962,012 | ||
Ohio - 2.1% | |||
Columbus Gen. Oblig. Participating VRDN Series DB 80 75, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 910,000 | 910,000 | |
Ohio Hsg. Fin. Agcy. Multi-family Hsg. Rev. Participating VRDN Series XF 10 92, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 300,000 | 300,000 | |
Ohio Tpk. Commission Tpk. Rev. Participating VRDN Series Floaters XL 00 57, 0.12% 10/7/21 (Liquidity Facility Cr. Suisse AG) (b)(f)(g) | 180,000 | 180,000 | |
Port of Greater Cincinnati Dev. Auth.: | |||
Series 2003, 0.08% 10/7/21, LOC U.S. Bank NA, Cincinnati, VRDN (b) | 760,000 | 760,000 | |
Series 2006, 0.08% 10/7/21, LOC U.S. Bank NA, Cincinnati, VRDN (b) | 175,000 | 175,000 | |
Stark County Port Auth. Rev. Series 2002, 0.09% 10/7/21, LOC PNC Bank NA, VRDN (b) | 405,000 | 405,000 | |
TOTAL OHIO | 2,730,000 | ||
Pennsylvania - 0.3% | |||
Pennsylvania Hsg. Fin. Agcy. Multifamily Hsg. Dev. Rev. Participating VRDN Series XF 10 95, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
Pennsylvania Tpk. Commission Tpk. Rev. Participating VRDN Series 2021 XL 01 80, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Philadelphia Auth. Indl. Mrf Participating VRDN Series MIZ 90 51, 0.3% 11/4/21 (Liquidity Facility Mizuho Cap. Markets Llc) (b)(f)(g) | 100,000 | 100,000 | |
TOTAL PENNSYLVANIA | 400,000 | ||
Rhode Island - 0.4% | |||
Rhode Island Health & Ed. Bldg. Corp. Rev. Series 2007, 0.11% 10/7/21, LOC Citizens Bank NA, VRDN (b) | 510,000 | 510,000 | |
South Carolina - 1.1% | |||
Greenville Hosp. Sys. Facilities Rev. Participating VRDN Series XF 01 45, 0.2% 10/7/21 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 100,000 | 100,000 | |
South Carolina Pub. Svc. Auth. Rev. Participating VRDN Series Floaters XM 03 84, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,400,000 | 1,400,000 | |
TOTAL SOUTH CAROLINA | 1,500,000 | ||
Texas - 10.2% | |||
Austin Affordable Pfc, Inc. Multifamily Hsg. Rev. Participating VRDN Series XF 11 19, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Calhoun County Navigation Indl. Dev. Auth. Port Rev. (B P Chemicals, Inc. Proj.) Series 1998, 0.1% 10/7/21, VRDN (b)(c) | 3,200,000 | 3,200,000 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Participating VRDN Series 2021 XG 03 28, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 400,000 | 400,000 | |
Hurst Participating VRDN Series XF 10 94, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Lamar Consolidated Independent School District Participating VRDN Series XF 11 18, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
North Texas Tollway Auth. Rev. Participating VRDN: | |||
Series XF 12 21, 0.13% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 100,000 | 100,000 | |
Series XM0085, 0.13% 10/7/21 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 200,000 | 200,000 | |
Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.): | |||
Series 2004, 0.16% 10/7/21, VRDN (b)(c) | 2,300,000 | 2,300,000 | |
Series 2010 D: | |||
0.09% 10/7/21, VRDN (b) | 5,880,000 | 5,879,991 | |
0.11% 10/7/21, VRDN (b) | 575,000 | 575,000 | |
Texas Dept. of Hsg. & Cmnty. Affairs Residential Mtg. Rev. Participating VRDN Series XF 10 98, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Texas Private Activity Bond Surface Trans. Corp. Participating VRDN Series XM 07 56, 0.25% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(f)(g) | 100,000 | 100,000 | |
Trinity Riv Pub. Facilities Corp. Tex M Participating VRDN Series XF 10 83, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
Waco Edl. Fin. Corp. Rev. Participating VRDN Series 2021 XF 11 13, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 100,000 | 100,000 | |
TOTAL TEXAS | 13,354,991 | ||
Utah - 0.4% | |||
Salt Lake City Arpt. Rev. Participating VRDN: | |||
Series Floaters XM 06 99, 0.19% 10/7/21 (Liquidity Facility Cr. Suisse AG) (b)(c)(f)(g) | 200,000 | 200,000 | |
Series XM 08 82, 0.15% 10/7/21 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 100,000 | 100,000 | |
Utah Hsg. Corp. Multi-family Hsg. Rev. Participating VRDN Series 2021 XF 11 00, 0.3% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 200,000 | 200,000 | |
TOTAL UTAH | 500,000 | ||
Virginia - 0.1% | |||
Virginia Commonwealth Trans. Board Rev. Participating VRDN Series DB 80 80, 0.12% 10/7/21 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(f)(g) | 95,000 | 95,000 | |
Virginia Small Bus. Fing. Auth. Series 2004, 0.16% 10/7/21, LOC Truist Bank, VRDN (b)(c) | 100,000 | 100,000 | |
TOTAL VIRGINIA | 195,000 | ||
Washington - 0.1% | |||
Washington Econ. Dev. Fin. Auth. Rev. Participating VRDN Series Floaters 005, 0.23% 11/12/21 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 100,000 | 100,000 | |
TOTAL MUNICIPAL NOTES (Cost $49,863,156) | 49,872,003 | ||
TOTAL INVESTMENT IN SECURITIES - 97.9% (Cost $128,291,771) | 128,475,753 |
NET OTHER ASSETS (LIABILITIES) - 2.1% | 2,751,486 |
NET ASSETS - 100.0% | 131,227,239 |
Security Type Abbreviations
BAN | - | BOND ANTICIPATION NOTE |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
Legend
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $226,249 or 0.2% of net assets. |
(f) | Provides evidence of ownership in one or more underlying municipal bonds. |
(g) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(h) | 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 $200,000 or 0.2% of net assets. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
River Islands Pub. Fing. Auth. Participating VRDN Series MIZ 90 26, 0.3% 11/4/21 (Liquidity Facility Mizuho Cap. Markets Llc) | 8/14/20 | 200,000 |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | %ownership, end of period |
Fidelity Municipal Cash Central Fund 0.06% | 2,183,000 | 19,103,000 | 21,286,460 | 1,072 | 460 | - | - | 0.0% |
Total | 2,183,000 | 19,103,000 | 21,286,460 | 1,072 | 460 | - | - |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Municipal Bonds and Municipal Notes are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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