Quarterly Holdings Report
for
Fidelity® New York Municipal Income Fund
October 31, 2021
NFY-NPRT3-1221
1.809090.118
| Municipal Bonds - 98.5% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
| New York - 93.1% | |||
| Battery Park City Auth. Rev. Series 2019 A, 4% 11/1/44 | 3,015 | 3,531 | |
| Brookhaven Loc Dev. Corp. Series 2020, 4% 11/1/45 | 1,000 | 1,111 | |
| Buffalo and Erie County Indl. Land Rev. (Catholic Health Sys., Inc. Proj.) Series 2015: | |||
| 5% 7/1/24 | 600 | 659 | |
| 5% 7/1/25 | 455 | 514 | |
| 5% 7/1/26 | 450 | 507 | |
| 5% 7/1/27 | 600 | 675 | |
| 5% 7/1/28 | 360 | 403 | |
| 5% 7/1/29 | 300 | 334 | |
| 5% 7/1/30 | 575 | 639 | |
| 5% 7/1/40 | 1,000 | 1,094 | |
| 5.25% 7/1/35 | 1,000 | 1,114 | |
| Buffalo Muni. Wtr. Fin. Auth. Series 2015 A, 5% 7/1/29 | 500 | 577 | |
| Dorm. Auth. New York Univ. Rev.: | |||
| (Fordham Univ. Proj.) Series 2017: | |||
5% 7/1/30 | 625 | 758 | |
5% 7/1/32 | 1,500 | 1,810 | |
| (Orange Reg'l. Med. Ctr. Proj.) Series 2017, 5% 12/1/28 (b) | 4,000 | 4,830 | |
| (St Johns Univ., NY. Proj.) Series 2017 A: | |||
5% 7/1/28 | 750 | 908 | |
5% 7/1/29 | 1,400 | 1,685 | |
5% 7/1/30 | 1,250 | 1,497 | |
| (State Univ. of New York Proj.) Series 2017 A: | |||
5% 7/1/32 | 1,500 | 1,815 | |
5% 7/1/34 | 3,000 | 3,621 | |
| Series 2016 A: | |||
5% 7/1/36 | 8,000 | 9,458 | |
5% 7/1/39 | 7,400 | 8,715 | |
5% 7/1/41 | 2,500 | 2,958 | |
5% 7/1/46 | 8,000 | 9,441 | |
5% 7/1/50 | 6,280 | 7,395 | |
| Series 2017, 5% 12/1/32 (b) | 4,000 | 4,763 | |
| Dutchess County Local Dev. Corp. Rev.: | |||
| (Health Quest Systems, Inc. Proj.) Series 2016 B, 5% 7/1/46 | 9,025 | 10,498 | |
| (Marist College Proj.) Series 2015 A: | |||
5% 7/1/26 | 550 | 636 | |
5% 7/1/27 | 350 | 403 | |
5% 7/1/28 | 500 | 573 | |
5% 7/1/29 | 725 | 829 | |
5% 7/1/31 | 2,610 | 2,975 | |
5% 7/1/32 | 2,660 | 3,033 | |
5% 7/1/33 | 2,770 | 3,157 | |
5% 7/1/34 | 2,935 | 3,347 | |
5% 7/1/35 | 3,000 | 3,420 | |
5% 7/1/36 | 1,000 | 1,140 | |
5% 7/1/40 | 8,500 | 9,685 | |
| (The Culinary Institute of America Proj.) Series 2018: | |||
5% 7/1/26 | 850 | 991 | |
5% 7/1/30 | 1,100 | 1,313 | |
5% 7/1/35 | 855 | 1,008 | |
| (Vassar College Proj.) Series 2017: | |||
5% 7/1/35 | 1,100 | 1,332 | |
5% 7/1/36 | 1,430 | 1,729 | |
5% 7/1/37 | 1,705 | 2,060 | |
| Erie County Fiscal Stability Auth.: | |||
| Series 2017 C, 5% 9/1/31 | 1,050 | 1,283 | |
| Series 2017 D: | |||
5% 9/1/33 | 525 | 640 | |
5% 9/1/34 | 850 | 1,035 | |
5% 9/1/35 | 1,300 | 1,582 | |
| Hempstead Local Dev. Corp. Rev.: | |||
| (Adelphi Univ. Proj.) Series 2021: | |||
5% 6/1/22 | 100 | 103 | |
5% 6/1/25 | 400 | 457 | |
5% 6/1/26 | 550 | 646 | |
5% 6/1/28 | 155 | 189 | |
5% 6/1/30 | 200 | 253 | |
5% 6/1/32 | 200 | 256 | |
| (Molloy College Proj.) Series 2017: | |||
5% 7/1/32 | 740 | 865 | |
5% 7/1/33 | 475 | 554 | |
| Hudson Yards Infrastructure Corp. New York Rev.: | |||
| Series 2011, 5.25% 2/15/47 (Escrowed to Maturity) | 6,015 | 6,021 | |
| Series 2012 A, 5.75% 2/15/47 | 7,175 | 7,183 | |
| Series 2017 A: | |||
4% 2/15/44 | 2,100 | 2,354 | |
5% 2/15/32 | 4,000 | 4,787 | |
5% 2/15/33 | 10,000 | 11,944 | |
5% 2/15/34 | 6,130 | 7,311 | |
5% 2/15/36 | 4,750 | 5,641 | |
5% 2/15/37 | 2,505 | 2,970 | |
5% 2/15/42 | 14,890 | 17,515 | |
| Liberty Dev. Corp. Rev. Series 2005, 5.25% 10/1/35 | 11,440 | 15,903 | |
| Long Island Pwr. Auth. Elec. Sys. Rev.: | |||
| Series 2014 A, 5% 9/1/35 | 5,000 | 5,605 | |
| Series 2016 B, 5% 9/1/36 | 3,500 | 4,140 | |
| Series 2017, 5% 9/1/30 | 750 | 917 | |
| Series 2020 A: | |||
5% 9/1/34 | 1,700 | 2,204 | |
5% 9/1/35 | 1,200 | 1,552 | |
5% 9/1/37 | 500 | 643 | |
5% 9/1/38 | 1,450 | 1,857 | |
| Madison County Cap. Resource Corp. Rev. (Colgate Univ. Rfdg. Proj.) Series 2015 A: | |||
| 5% 7/1/30 | 1,125 | 1,290 | |
| 5% 7/1/32 | 1,250 | 1,432 | |
| 5% 7/1/33 | 1,000 | 1,144 | |
| 5% 7/1/35 | 1,000 | 1,143 | |
| 5% 7/1/40 | 4,000 | 4,564 | |
| Monroe County Indl. Dev. Agcy. Rev. (Rochester Schools Modernization Proj.): | |||
| Series 2015: | |||
5% 5/1/30 | 1,000 | 1,143 | |
5% 5/1/31 | 1,205 | 1,377 | |
| Series 2018: | |||
5% 5/1/30 | 8,500 | 10,591 | |
5% 5/1/32 | 5,000 | 6,177 | |
5% 5/1/34 | 3,000 | 3,682 | |
| Monroe County Indl. Dev. Corp.: | |||
| (Rochester Reg'l. Health Proj.) Series 2020 A, 4% 12/1/46 | 2,500 | 2,826 | |
| (St. Anns Cmnty. Proj.) Series 2019, 5% 1/1/50 | 4,430 | 4,918 | |
| (The Rochester Gen. Hosp. Proj.) Series 2017: | |||
5% 12/1/31 | 1,595 | 1,860 | |
5% 12/1/34 | 760 | 882 | |
5% 12/1/35 | 700 | 812 | |
5% 12/1/36 | 700 | 811 | |
| (Univ. of Rochester Proj.): | |||
Series 2015: | |||
5% 7/1/30 | 1,000 | 1,151 | |
5% 7/1/31 | 1,200 | 1,378 | |
5% 7/1/32 | 1,250 | 1,434 | |
Series 2017 A: | |||
5% 7/1/31 | 1,650 | 2,010 | |
5% 7/1/32 | 1,215 | 1,477 | |
5% 7/1/34 | 1,310 | 1,593 | |
Series 2017 C: | |||
4% 7/1/32 | 1,680 | 1,934 | |
5% 7/1/30 | 1,040 | 1,271 | |
5% 7/1/31 | 800 | 975 | |
Series 2017 D: | |||
5% 7/1/30 | 1,000 | 1,222 | |
5% 7/1/31 | 825 | 1,005 | |
Series 2020 A, 4% 7/1/50 | 5,000 | 5,753 | |
| MTA Hudson Rail Yards Trust Oblig. Series 2016 A: | |||
| 5% 11/15/51 | 3,000 | 3,006 | |
| 5% 11/15/56 | 9,000 | 9,620 | |
| Nassau County Local Econ. Assistance Corp. Series 2014 B, 5% 7/1/27 | 1,000 | 1,114 | |
| New York Bridge Auth. Gen. Rev. Series 2021 A, 4% 1/1/51 | 1,085 | 1,267 | |
| New York City Gen. Oblig.: | |||
| Series 2017 A, 5% 8/1/34 | 5,355 | 6,358 | |
| Series 2018 F, 5% 4/1/45 | 15,485 | 18,581 | |
| Series 2019 D: | |||
5% 12/1/41 | 4,305 | 5,278 | |
5% 12/1/44 | 9,810 | 11,981 | |
| Series 2020 D1, 4% 3/1/44 | 1,475 | 1,687 | |
| Series 2021 A1: | |||
4% 8/1/34 | 3,250 | 3,846 | |
5% 8/1/32 | 5,000 | 6,430 | |
| Series 2021 F1: | |||
5% 3/1/43 | 1,500 | 1,894 | |
5% 3/1/50 | 6,475 | 8,095 | |
| Series 2022 A1, 5% 8/1/47 | 25,000 | 31,592 | |
| Series B: | |||
5% 10/1/42 | 2,000 | 2,476 | |
5% 10/1/43 | 3,000 | 3,707 | |
| New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.: | |||
| Series 2014 CC, 5% 6/15/47 | 6,200 | 6,878 | |
| Series 2015 AA, 5% 6/15/44 | 6,200 | 6,881 | |
| Series 2015 FF, 5% 6/15/32 | 2,000 | 2,308 | |
| Series 2017 EE, 5% 6/15/37 | 10,000 | 12,059 | |
| Series 2018 CC, 5% 6/15/48 | 7,070 | 8,454 | |
| Series 2019 DD 1, 5% 6/15/49 | 6,925 | 8,545 | |
| Series 2019 DD, 5.25% 6/15/49 | 4,410 | 5,524 | |
| Series 2021 AA 1, 5% 6/15/50 | 14,610 | 18,412 | |
| Series 2021 BB1, 5% 6/15/50 | 3,020 | 3,809 | |
| Series 2021 CC1, 5% 6/15/51 | 935 | 1,182 | |
| Series 2022 AA1, 5% 6/15/48 | 4,880 | 6,186 | |
| New York City Transitional Fin. Auth. Bldg. Aid Rev.: | |||
| (New York State Gen. Oblig. Proj.) Series 2015 S-1, 5% 7/15/35 | 4,000 | 4,556 | |
| Series 2016 S1, 5% 7/15/33 | 2,165 | 2,535 | |
| Series 2016: | |||
5% 7/15/32 | 15,000 | 17,578 | |
5% 7/15/35 | 5,000 | 5,846 | |
| Series 2018 S4, 5.25% 7/15/36 | 8,095 | 10,162 | |
| Series 2019 S1, 5% 7/15/43 | 1,715 | 2,096 | |
| New York City Transitional Fin. Auth. Rev.: | |||
| Series 2015 E1, 5% 2/1/41 | 8,000 | 9,061 | |
| Series 2017 A-1, 5% 5/1/34 | 1,065 | 1,255 | |
| Series 2017 B, 5% 8/1/34 | 2,640 | 3,133 | |
| Series 2017 E, 5% 2/1/33 | 5,290 | 6,344 | |
| Series 2017 E-1, 5% 2/1/34 | 4,500 | 5,392 | |
| Series 2017 F: | |||
5% 5/1/33 | 5,000 | 6,040 | |
5% 5/1/34 | 7,000 | 8,447 | |
5% 5/1/35 | 11,795 | 14,220 | |
5% 5/1/38 | 5,000 | 6,005 | |
| Series 2018 A2, 5% 8/1/39 | 5,000 | 6,046 | |
| Series 2018 B-1, 5% 8/1/34 | 3,000 | 3,646 | |
| Series 2018 C2, 5% 5/1/37 | 4,690 | 5,771 | |
| Series 2021 B1, 4% 8/1/48 | 3,500 | 4,051 | |
| Series 2021 F1, 4% 11/1/38 | 1,500 | 1,771 | |
| Series C1: | |||
4% 5/1/42 | 5,000 | 5,790 | |
4% 5/1/47 | 1,000 | 1,147 | |
| Series E, 5% 2/1/43 | 5,845 | 6,944 | |
| Series E1, 4% 2/1/49 | 14,000 | 16,084 | |
| New York City Trust Cultural Resources Rev. Series 2021, 5% 7/1/31 | 5,000 | 6,620 | |
| New York Convention Ctr. Dev. Corp. Rev.: | |||
| Series 2015: | |||
5% 11/15/29 | 5,000 | 5,796 | |
5% 11/15/30 | 2,000 | 2,318 | |
5% 11/15/33 | 9,115 | 10,543 | |
5% 11/15/34 | 3,000 | 3,465 | |
5% 11/15/40 | 9,990 | 11,435 | |
| Series 2016 A, 5% 11/15/46 | 13,450 | 15,780 | |
| New York Dorm. Auth. Rev.: | |||
| (Bond Fing. Prog.) Series 2016 E, 5% 10/1/30 | 3,355 | 4,005 | |
| (New York City Court Facilities Lease Proj.) Series 2005 A, 5.5% 5/15/28 | 2,700 | 3,446 | |
| Series 2015 A: | |||
5% 7/1/28 | 5,000 | 5,719 | |
5% 7/1/29 | 5,000 | 5,710 | |
5% 5/1/30 | 3,450 | 3,941 | |
5% 7/1/30 | 5,000 | 5,699 | |
5% 7/1/30 | 10,120 | 11,665 | |
5% 5/1/31 | 11,000 | 12,557 | |
5% 7/1/31 | 15,000 | 17,093 | |
5% 10/1/31 | 1,595 | 1,858 | |
5% 10/1/32 | 1,550 | 1,804 | |
| Series 2015 B: | |||
5% 7/1/29 | 1,400 | 1,613 | |
5% 7/1/30 | 1,400 | 1,612 | |
5% 7/1/31 | 1,400 | 1,612 | |
5% 7/1/32 | 1,450 | 1,669 | |
5% 7/1/33 | 1,750 | 2,013 | |
5% 10/1/33 | 1,010 | 1,173 | |
5% 10/1/34 | 1,070 | 1,241 | |
5% 7/1/40 | 2,545 | 2,907 | |
| Series 2015: | |||
5% 12/1/21 (b) | 800 | 803 | |
5% 12/1/23 (b) | 700 | 760 | |
5% 12/1/24 (b) | 600 | 674 | |
5% 12/1/27 (b) | 1,200 | 1,364 | |
| Series 2016 A: | |||
5% 7/1/31 | 1,200 | 1,417 | |
5% 7/1/31 | 600 | 715 | |
5% 7/1/32 | 800 | 953 | |
5% 7/1/33 | 800 | 944 | |
5% 7/1/34 | 650 | 767 | |
5% 7/1/35 | 500 | 589 | |
5% 7/1/41 | 1,000 | 1,174 | |
| Series 2016 E, 5% 10/1/31 | 1,945 | 2,320 | |
| Series 2019 A: | |||
4% 7/1/40 | 650 | 700 | |
4% 7/1/45 | 2,750 | 2,932 | |
5% 7/1/26 | 545 | 629 | |
5% 7/1/27 | 390 | 459 | |
5% 7/1/28 | 465 | 555 | |
5% 7/1/29 | 750 | 909 | |
5% 7/1/30 | 1,475 | 1,776 | |
5% 7/1/32 | 1,540 | 1,841 | |
5% 7/1/33 | 5,800 | 7,102 | |
5% 7/1/34 | 1,300 | 1,547 | |
5% 7/1/35 | 600 | 713 | |
5% 7/1/36 | 500 | 593 | |
5% 7/1/38 | 3,440 | 4,374 | |
5% 7/1/41 | 600 | 693 | |
5% 7/1/42 | 8,500 | 10,670 | |
| Series 2019 B, 5% 7/1/50 | 3,000 | 3,745 | |
| Series 2020 A: | |||
4% 9/1/50 | 11,420 | 12,791 | |
4% 7/1/53 | 5,805 | 6,649 | |
5% 7/1/40 | 1,265 | 1,574 | |
| Series 2021 A: | |||
4% 7/1/48 | 4,000 | 4,617 | |
5% 7/1/51 | 10,000 | 12,703 | |
| Series 2022: | |||
4% 7/1/46 (c) | 4,625 | 5,217 | |
5% 7/1/52 (c) | 4,675 | 5,698 | |
| New York Dorm. Auth. Revs. (New York Univ. Proj.) Series 2001 1, 5.5% 7/1/40 (AMBAC Insured) | 3,000 | 4,407 | |
| New York Dorm. Auth. Sales Tax Rev.: | |||
| Series 2014 A: | |||
5% 3/15/36 | 8,180 | 9,027 | |
5% 3/15/39 | 3,305 | 3,643 | |
| Series 2018 A: | |||
5% 3/15/42 | 9,940 | 12,129 | |
5% 3/15/43 | 9,940 | 12,125 | |
| Series 2018 C: | |||
5% 3/15/35 | 18,870 | 23,203 | |
5% 3/15/38 | 7,025 | 8,624 | |
5% 3/15/43 | 6,185 | 7,544 | |
| Series 2018 E, 5% 3/15/44 | 5,000 | 6,178 | |
| Series 2018, 5% 3/15/48 | 19,700 | 24,246 | |
| New York Envir. Facilities Corp. Clean Wtr. & Drinking Wtr.: | |||
| (New York City Muni. Wtr. Fin. Auth. Proj.) Series 2018 B, 5% 6/15/43 | 1,000 | 1,229 | |
| Series 2017 E, 5% 6/15/42 | 5,000 | 6,064 | |
| New York Liberty Dev. Corp. (Bank of America Tower at One Bryant Park Proj.) Series 2019 1, 2.45% 9/15/69 | 8,000 | 8,277 | |
| New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev.: | |||
| Series 2016 B1, 5% 11/15/36 | 5,000 | 5,947 | |
| Series 2016 B2, 5% 11/15/37 | 12,700 | 15,094 | |
| New York Metropolitan Trans. Auth. Rev.: | |||
| Series 2013 A, 5% 11/15/43 | 2,535 | 2,673 | |
| Series 2013 E, 5% 11/15/43 | 15,375 | 16,480 | |
| Series 2014 A1, 5% 11/15/44 | 8,000 | 8,568 | |
| Series 2014 B, 5.25% 11/15/44 | 6,300 | 6,914 | |
| Series 2014 D, 5.25% 11/15/44 | 5,000 | 5,574 | |
| Series 2015 A1: | |||
5% 11/15/40 | 5,000 | 5,595 | |
5% 11/15/45 | 1,200 | 1,334 | |
| Series 2015 B, 5% 11/15/29 | 2,125 | 2,406 | |
| Series 2015 C, 5% 11/15/35 | 600 | 681 | |
| Series 2016 A1, 5% 11/15/46 | 32,890 | 37,208 | |
| Series 2016 B: | |||
5% 11/15/34 | 1,490 | 1,733 | |
5% 11/15/35 | 8,375 | 9,739 | |
| Series 2016 C1, 5% 11/15/32 | 730 | 851 | |
| Series 2016 D: | |||
5% 11/15/31 | 665 | 777 | |
5.25% 11/15/31 | 500 | 590 | |
| Series 2017 A1, 5% 11/15/51 | 1,500 | 1,727 | |
| Series 2017 C-2: | |||
0% 11/15/27 | 1,600 | 1,447 | |
0% 11/15/29 | 15,820 | 13,519 | |
0% 11/15/32 | 18,000 | 14,049 | |
| Series 2017 C1: | |||
5% 11/15/27 | 620 | 754 | |
5% 11/15/30 | 535 | 640 | |
| Series 2017 D: | |||
5% 11/15/28 | 2,125 | 2,582 | |
5% 11/15/32 | 925 | 1,102 | |
| New York State Dorm. Auth.: | |||
| Series 2017 A: | |||
5% 2/15/37 | 5,395 | 6,457 | |
5% 2/15/37 (Pre-Refunded to 2/15/27 @ 100) | 5 | 6 | |
| Series 2019 A, 5% 3/15/46 | 7,500 | 9,228 | |
| Series 2021 A, 5% 3/15/49 | 6,500 | 8,145 | |
| New York State Envir. Facilities Corp. Rev. Series 2019 A, 5% 2/15/49 | 12,690 | 15,899 | |
| New York State Hsg. Fin. Agcy. Rev.: | |||
| Series 2019 H, 1.625% 5/1/23 | 3,680 | 3,683 | |
| Series 2019 O, 1.45% 5/1/23 | 2,000 | 2,001 | |
| New York State Mtg. Agcy. Homeowner Mtg.: | |||
| Series 2021 232: | |||
5% 10/1/27 (d) | 1,630 | 1,976 | |
5% 10/1/28 (d) | 1,680 | 2,076 | |
| Series 221, 3.5% 10/1/32 (d) | 5,685 | 6,135 | |
| Series 223, 3.5% 4/1/49 | 2,615 | 2,785 | |
| Series 226, 3.5% 10/1/50 (d) | 12,750 | 13,796 | |
| New York State Urban Dev. Corp.: | |||
| Series 2020 A: | |||
5% 3/15/41 | 5,000 | 6,283 | |
5% 3/15/42 | 2,175 | 2,726 | |
| Series 2020 C: | |||
4% 3/15/49 | 3,165 | 3,652 | |
5% 3/15/47 | 7,820 | 9,698 | |
| Series 2020 E, 4% 3/15/46 | 14,820 | 16,917 | |
| New York Thruway Auth. Gen. Rev.: | |||
| Series 2016 A: | |||
5% 1/1/34 | 3,000 | 3,499 | |
5% 1/1/35 | 6,455 | 7,518 | |
5% 1/1/41 | 9,320 | 10,820 | |
5% 1/1/46 | 7,285 | 8,395 | |
5% 1/1/51 | 23,625 | 27,082 | |
| Series 2019 B, 4% 1/1/45 | 5,000 | 5,699 | |
| New York Trans. Dev. Corp.: | |||
| (Delta Air Lines, Inc. Laguardia Arpt. Terminals C&D Redev. Proj.) Series 2018, 5% 1/1/33 (d) | 5,000 | 5,944 | |
| (Laguardia Arpt. Term. B Redev. Proj.) Series 2016 A, 5% 7/1/34 (d) | 4,000 | 4,440 | |
| (Term. 4 JFK Int'l. Arpt. Proj.) Series 2020 A: | |||
4% 12/1/38 (d) | 600 | 676 | |
4% 12/1/41 (d) | 1,700 | 1,903 | |
5% 12/1/31 (d) | 800 | 1,003 | |
5% 12/1/33 (d) | 1,500 | 1,871 | |
5% 12/1/35 (d) | 1,240 | 1,537 | |
| Series 2016 A, 5.25% 1/1/50 (d) | 9,095 | 10,123 | |
| New York Urban Dev. Corp. Rev.: | |||
| (New York State Gen. Oblig. Proj.) Series 2017 A, 5% 3/15/34 | 5,000 | 6,000 | |
| (New York State Pit) Series 2017 C, 5% 3/15/32 | 15,500 | 18,922 | |
| Series 2014 A, 5% 3/15/44 | 3,980 | 4,370 | |
| Series 2015 A, 5% 3/15/45 | 18,970 | 21,740 | |
| Series 2016, 5% 3/15/32 | 3,000 | 3,523 | |
| Series 2019 A, 5% 3/15/43 | 10,830 | 13,245 | |
| Niagara Frontier Trans. Auth. Arpt. Rev. Series 2019 A: | |||
| 5% 4/1/29 (d) | 350 | 435 | |
| 5% 4/1/30 (d) | 750 | 929 | |
| 5% 4/1/32 (d) | 900 | 1,111 | |
| 5% 4/1/33 (d) | 650 | 801 | |
| 5% 4/1/34 (d) | 1,765 | 2,170 | |
| 5% 4/1/36 (d) | 1,150 | 1,405 | |
| 5% 4/1/38 (d) | 750 | 912 | |
| Oneida County Local Dev. Corp. Rev.: | |||
| (Mohawk Valley Health Sys. Proj.) Series 2019 A: | |||
4% 12/1/37 (FSA Insured) | 1,000 | 1,145 | |
4% 12/1/38 (FSA Insured) | 1,000 | 1,143 | |
4% 12/1/49 (FSA Insured) | 11,305 | 12,635 | |
5% 12/1/30 (FSA Insured) | 755 | 954 | |
5% 12/1/31 (FSA Insured) | 545 | 686 | |
| (Utica College Proj.) Series 2019: | |||
4% 7/1/39 | 2,625 | 2,768 | |
5% 7/1/49 | 3,250 | 3,647 | |
| Onondaga Civic Dev. Corp.: | |||
| (Le Moyne College Proj.) Series 2020 B: | |||
4% 7/1/36 | 425 | 483 | |
4% 7/1/37 | 275 | 312 | |
4% 7/1/38 | 255 | 288 | |
4% 7/1/39 | 325 | 367 | |
4% 7/1/40 | 300 | 337 | |
5% 7/1/22 | 200 | 206 | |
5% 7/1/23 | 210 | 225 | |
5% 7/1/24 | 215 | 239 | |
5% 7/1/25 | 235 | 269 | |
5% 7/1/27 | 815 | 974 | |
5% 7/1/28 | 855 | 1,037 | |
5% 7/1/31 | 340 | 422 | |
5% 7/1/32 | 265 | 329 | |
5% 7/1/33 | 300 | 371 | |
5% 7/1/34 | 300 | 370 | |
5% 7/1/35 | 400 | 492 | |
| (Syracuse Univ. Proj.) Series 2020 A, 5% 12/1/35 | 1,110 | 1,430 | |
| Onondaga County Trust for Cultural Resources Rev. Series 2019: | |||
| 4% 12/1/47 | 10,000 | 11,617 | |
| 4% 12/1/49 | 10,000 | 11,598 | |
| Port Auth. of New York & New Jersey: | |||
| Series 218, 5% 11/1/30 (d) | 1,130 | 1,420 | |
| Series 221: | |||
4% 7/15/38 (d) | 1,000 | 1,161 | |
4% 7/15/40 (d) | 2,000 | 2,310 | |
5% 7/15/32 (d) | 1,500 | 1,902 | |
| Saratoga County Cap. Resources Rev. (Skidmore College Proj.) Series 2020 A: | |||
| 4% 7/1/50 | 1,500 | 1,714 | |
| 5% 7/1/45 | 1,625 | 2,013 | |
| Schenectady County Cap. Resources Corp. Rev. (Union College Proj.) Series 2017, 5% 1/1/40 | 2,600 | 3,079 | |
| Suffolk County Econ. Dev. Corp. Rev. Series 2021, 5.375% 11/1/54 (b) | 3,500 | 3,576 | |
| Suffolk Tobacco Asset Securitization Corp. Series 2021 A2, 4% 6/1/50 | 3,000 | 3,384 | |
| Syracuse Reg'l. Arpt. Auth. Series 2021: | |||
| 4% 7/1/35 (d) | 500 | 582 | |
| 4% 7/1/36 (d) | 500 | 578 | |
| 5% 7/1/28 (d) | 1,640 | 2,018 | |
| 5% 7/1/29 (d) | 1,500 | 1,869 | |
| 5% 7/1/30 (d) | 1,500 | 1,894 | |
| 5% 7/1/31 (d) | 1,060 | 1,358 | |
| 5% 7/1/32 (d) | 1,145 | 1,459 | |
| 5% 7/1/33 (d) | 755 | 958 | |
| 5% 7/1/34 (d) | 815 | 1,031 | |
| Tobacco Settlement Asset Securitization Corp. Series 2017 A, 5% 6/1/30 | 2,525 | 3,009 | |
| Triborough Bridge & Tunnel Auth. Series 2021 A1, 5% 5/15/51 | 5,435 | 6,832 | |
| Triborough Bridge & Tunnel Auth. Revs.: | |||
| Series 2012 B: | |||
0% 11/15/27 | 2,510 | 2,296 | |
0% 11/15/28 | 2,500 | 2,231 | |
| Series 2015 A, 5.25% 11/15/45 | 10,820 | 12,500 | |
| Series 2017 B, 5% 11/15/36 | 5,000 | 6,058 | |
| Series 2018 D, 4% 11/15/37 | 3,000 | 3,587 | |
| Series 2019 A, 5% 11/15/49 | 10,000 | 12,285 | |
| Series 2020 A, 5% 11/15/54 | 1,015 | 1,270 | |
| Series 2021 A: | |||
5% 11/15/51 | 1,990 | 2,498 | |
5% 11/15/56 | 6,000 | 7,531 | |
| Series B, 5% 11/15/31 | 8,280 | 11,096 | |
| Troy Cap. Resource Corp. Rev. (Rensselaer Polytechnic Institute Proj.): | |||
| Series 2015: | |||
5% 8/1/27 | 1,600 | 1,860 | |
5% 8/1/28 | 1,565 | 1,812 | |
5% 8/1/32 | 1,000 | 1,148 | |
| Series 2020 A, 5% 9/1/36 | 1,500 | 1,898 | |
| Western Nassau County Wtr. Auth. Series 2015 A, 5% 4/1/30 | 350 | 400 | |
| Yonkers Gen. Oblig.: | |||
| Series 2015 D: | |||
5% 8/1/30 (FSA Insured) | 1,500 | 1,733 | |
5% 9/1/30 (FSA Insured) | 4,365 | 5,054 | |
| Series 2019 A: | |||
4% 5/1/34 (Build America Mutual Assurance Insured) | 1,500 | 1,747 | |
5% 5/1/31 (Build America Mutual Assurance Insured) | 1,000 | 1,267 | |
5% 5/1/32 (Build America Mutual Assurance Insured) | 1,480 | 1,874 | |
5% 5/1/33 (Build America Mutual Assurance Insured) | 1,000 | 1,262 | |
| Series 2021 B, 4% 2/15/37 | 1,200 | 1,418 | |
TOTAL NEW YORK | 1,628,089 | ||
| New York And New Jersey - 5.3% | |||
| Port Auth. of New York & New Jersey: | |||
| 185th Series, 5% 9/1/28 (d) | 7,350 | 8,183 | |
| 85th Series, 5.375% 3/1/28 | 5,155 | 6,089 | |
| Series 193, 5% 10/15/28 (d) | 2,015 | 2,339 | |
| Series 202, 5% 10/15/36 (d) | 5,455 | 6,453 | |
| Series 2021 224, 5% 7/15/56 | 6,795 | 8,515 | |
| Series 206, 5% 11/15/47 (d) | 2,000 | 2,371 | |
| Series 214: | |||
4% 9/1/37 (d) | 4,000 | 4,646 | |
4% 9/1/39 (d) | 1,920 | 2,229 | |
4% 9/1/43 (d) | 6,500 | 7,462 | |
5% 9/1/33 (d) | 2,005 | 2,480 | |
| Series 218: | |||
4% 11/1/47 (d) | 11,280 | 12,888 | |
5% 11/1/44 (d) | 5,080 | 6,142 | |
| Series 221: | |||
4% 7/15/36 (d) | 3,000 | 3,505 | |
4% 7/15/45 (d) | 8,000 | 9,123 | |
| Series 223, 5% 7/15/56 (d) | 8,850 | 10,907 | |
TOTAL NEW YORK AND NEW JERSEY | 93,332 | ||
| Non-State Specific - 0.1% | |||
| Port Auth. of New York & New Jersey Series 217, 5% 11/1/44 | 1,000 | 1,246 | |
| TOTAL MUNICIPAL BONDS (Cost $1,633,475) | 1,722,667 | ||
| Municipal Notes - 0.1% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
| New York - 0.1% | |||
New York City Transitional Fin. Auth. Rev. Series 2016 A4, 0.02% 11/1/21 (Liquidity Facility Bank of America NA), VRDN (e) (Cost $1,500) | 1,500 | 1,500 | |
| TOTAL INVESTMENT IN SECURITIES - 98.6% (Cost $1,634,975) | 1,724,167 |
NET OTHER ASSETS (LIABILITIES) - 1.4% | 25,088 |
| NET ASSETS - 100.0% | 1,749,255 |
Security Type Abbreviations
| VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
| (a) | Amount is stated in United States dollars unless otherwise noted. |
| (b) | 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 $16,770,000 or 1.0% of net assets. |
| (c) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
| (d) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
| (e) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
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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