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 811-5349
Goldman Sachs Trust
(Exact name of registrant as specified in charter)
71 South Wacker, Suite 500, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Howard B. Surloff, Esq. | Copies to: | |
Goldman, Sachs & Co. | Jeffrey A. Dalke, Esq. | |
One New York Plaza | Drinker Biddle & Reath LLP | |
New York, New York 10004 | One Logan Square | |
18th and Cherry Streets | ||
Philadelphia, PA 19103 | ||
(Name and address of agents for service) |
Registrant’s telephone number, including area code: (312) 655-4400
Date of fiscal year end: December 31
Date of reporting period: June 30, 2005
ITEM 1. | REPORTS TO STOCKHOLDERS. | |
The Semi-Annual Report to Stockholders is filed herewith. |
Goldman Sachs Trust | |
Financial Square Funds SM |
4 Prime Obligations Fund | |
4 Money Market Fund | |
4 Treasury Obligations Fund | |
4 Treasury Instruments Fund | |
4 Government Fund | |
4 Federal Fund | |
4 Tax-Free Money Market Fund |
SEMIANNUAL REPORT | |
June 30, 2005 |
Taxable Funds*
Financial Square Prime Obligations Fund. The Fund invests in securities of the U.S. Government, its agencies, authorities, and instrumentalities, obligations of U.S. banks, commercial paper and other high quality, short-term obligations of U.S. companies, states, municipalities and other entities and repurchase agreements.
Financial Square Money Market Fund. The Fund invests in securities of the U.S. Government, its agencies, authorities, and instrumentalities, U.S. dollar denominated obligations of U.S. banks and foreign banks, U.S. dollar denominated commercial paper and other high-quality, short-term obligations of states, municipalities and other entities, U.S. and foreign companies, and of foreign governments, and repurchase agreements.
Financial Square Treasury Obligations Fund. Rated “AAA” by Standard & Poor’s Rating Group and “Aaa” by Moody’s Investors Service, Inc., the Fund invests only in securities issued by the U.S. Treasury which are backed by the full faith and credit of the U.S. Government, and repurchase agreements relating to such securities.
Financial Square Treasury Instruments Fund. The Fund invests only in certain U.S. Treasury obligations, the interest income from which is generally exempt from state income taxation.
Financial Square Government Fund. The Fund invests, directly or indirectly, only in securities of the U.S. Government, its agencies, authorities and instrumentalities, and repurchase agreements relating to such securities.
Financial Square Federal Fund. The Fund invests only in certain securities of the U.S. Government and certain of its agencies, authorities and instrumentalities, the interest income from which is generally exempt from state income taxation.
Tax-Exempt Fund*
Financial Square Tax-Free Money Market Fund. The Fund invests in securities issued by or on behalf of states, territories and possessions of the United States, its political subdivisions, agencies, authorities, and instrumentalities, and the District of Columbia, the interest from which is exempt from federal income tax, and not an item of tax preference under the federal alternative minimum tax.
* | Past performance is no guarantee of future results. Yields will vary. An investment in any of the Financial Square Funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Funds. More complete information, including management fees and expenses, is included in the Financial Square Funds’ Prospectuses and/or Statement of Additional Information, or may be obtained by calling Goldman Sachs Funds at 1-800-621-2550. Goldman Sachs Financial Square FundsSM is a service mark of Goldman, Sachs & Co. |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Commercial Paper and Corporate Obligations—40.6% | ||||||||||||||
Asset-Backed | ||||||||||||||
Blue Ridge Asset Funding Corp | ||||||||||||||
$ | 100,000,000 | 3.20 | % | 07/21/2005 | $ | 99,822,222 | ||||||||
Chariot Funding LLC | ||||||||||||||
51,139,000 | 3.09 | 07/08/2005 | 51,108,274 | |||||||||||
51,134,000 | 3.10 | 07/08/2005 | 51,103,178 | |||||||||||
51,143,000 | 3.20 | 07/18/2005 | 51,065,717 | |||||||||||
Citibank Credit Card Issuance Trust (Dakota Corp.) | ||||||||||||||
57,900,000 | 3.10 | 07/12/2005 | 57,845,156 | |||||||||||
255,000,000 | 3.20 | 07/18/2005 | 254,614,667 | |||||||||||
242,000,000 | 3.25 | 07/20/2005 | 241,584,903 | |||||||||||
200,000,000 | 3.16 | 08/02/2005 | 199,438,222 | |||||||||||
27,000,000 | 3.18 | 08/03/2005 | 26,921,295 | |||||||||||
100,000,000 | 3.31 | 09/12/2005 | 99,328,806 | |||||||||||
Clipper Receivables Co. LLC | ||||||||||||||
75,000,000 | 3.07 | 07/05/2005 | 74,974,417 | |||||||||||
100,000,000 | 3.19 | 07/18/2005 | 99,849,361 | |||||||||||
100,000,000 | 3.11 | 07/20/2005 | 99,835,861 | |||||||||||
CRC Funding LLC | ||||||||||||||
50,000,000 | 3.08 | 07/07/2005 | 49,974,333 | |||||||||||
96,000,000 | 3.10 | 07/13/2005 | 95,900,800 | |||||||||||
135,000,000 | 3.18 | 08/19/2005 | 134,415,675 | |||||||||||
150,000,000 | 3.19 | 08/22/2005 | 149,309,917 | |||||||||||
295,000,000 | 3.19 | 08/22/2005 | 293,640,705 | |||||||||||
100,000,000 | 3.25 | 09/02/2005 | 99,431,250 | |||||||||||
150,000,000 | 3.25 | 09/06/2005 | 149,092,708 | |||||||||||
75,000,000 | 3.26 | 09/08/2005 | 74,531,375 | |||||||||||
Curzon Funding LLC | ||||||||||||||
200,000,000 | 3.38 | 09/26/2005 | 198,366,333 | |||||||||||
Edison Asset Securitization Corp. | ||||||||||||||
111,904,000 | 3.24 | 09/01/2005 | 111,279,576 | |||||||||||
195,000,000 | 3.12 | 09/07/2005 | 193,850,800 | |||||||||||
56,961,000 | 3.24 | 10/03/2005 | 56,479,110 | |||||||||||
Falcon Asset Securitization Corp. | ||||||||||||||
47,139,000 | 3.09 | 07/08/2005 | 47,110,677 | |||||||||||
101,326,000 | 3.18 | 07/20/2005 | 101,155,941 | |||||||||||
95,000,000 | 3.32 | 09/15/2005 | 94,334,156 | |||||||||||
FCAR Owner Trust Series I | ||||||||||||||
79,000,000 | 3.18 | 08/15/2005 | 78,685,975 | |||||||||||
100,000,000 | 3.25 | 09/01/2005 | 99,440,278 | |||||||||||
145,000,000 | 3.24 | 09/06/2005 | 144,125,650 | |||||||||||
190,000,000 | 3.32 | 09/07/2005 | 188,808,489 | |||||||||||
148,000,000 | 3.37 | 09/16/2005 | 146,933,208 | |||||||||||
157,000,000 | 3.38 | 09/20/2005 | 155,806,015 | |||||||||||
Ford Credit Floor Plan Master Owner Trust (Motown) | ||||||||||||||
67,000,000 | 3.07 | 07/12/2005 | 66,937,150 | |||||||||||
51,000,000 | 3.09 | 07/18/2005 | 50,925,582 | |||||||||||
50,000,000 | 3.24 | 07/20/2005 | 49,914,500 | |||||||||||
50,000,000 | 3.15 | 08/02/2005 | 49,860,000 | |||||||||||
65,000,000 | 3.25 | 07/20/2005 | 64,888,507 | |||||||||||
Fountain Square Commercial Funding Corp. | ||||||||||||||
60,000,000 | 3.07 | 07/21/2005 | 59,897,667 | |||||||||||
75,000,000 | 3.18 | 08/17/2005 | 74,688,625 | |||||||||||
35,000,000 | 3.19 | 08/22/2005 | 34,838,728 | |||||||||||
95,000,000 | 3.21 | 08/26/2005 | 94,525,633 | |||||||||||
55,000,000 | 3.37 | 09/21/2005 | 54,577,814 | |||||||||||
Galleon Capital Corp. | ||||||||||||||
50,000,000 | 3.19 | 07/18/2005 | 49,924,681 | |||||||||||
Govco, Inc. | ||||||||||||||
145,000,000 | 3.06 | 07/21/2005 | 144,753,500 | |||||||||||
140,000,000 | 3.07 | 07/21/2005 | 139,761,222 | |||||||||||
50,000,000 | 3.09 | 07/26/2005 | 49,892,708 | |||||||||||
80,000,000 | 3.16 | 08/02/2005 | 79,775,289 | |||||||||||
50,000,000 | 3.16 | 08/04/2005 | 49,850,778 | |||||||||||
47,481,000 | 3.17 | 08/11/2005 | 47,309,851 | |||||||||||
50,000,000 | 3.17 | 08/16/2005 | 49,797,792 | |||||||||||
35,000,000 | 3.18 | 08/18/2005 | 34,851,600 | |||||||||||
25,000,000 | 3.18 | 08/19/2005 | 24,891,792 | |||||||||||
50,000,000 | 3.19 | 08/22/2005 | 49,769,611 | |||||||||||
175,000,000 | 3.19 | 08/23/2005 | 174,178,132 | |||||||||||
25,000,000 | 3.20 | 08/25/2005 | 24,877,778 | |||||||||||
125,000,000 | 3.21 | 08/26/2005 | 124,375,833 | |||||||||||
90,000,000 | 3.26 | 09/06/2005 | 89,453,950 | |||||||||||
Jupiter Securitization Corp. | ||||||||||||||
55,000,000 | 3.15 | 07/13/2005 | 54,942,250 | |||||||||||
87,818,000 | 3.20 | 07/18/2005 | 87,685,297 | |||||||||||
101,326,000 | 3.18 | 07/20/2005 | 101,155,941 | |||||||||||
100,817,000 | 3.12 | 08/05/2005 | 100,511,188 | |||||||||||
Kittyhawk Funding Corp. | ||||||||||||||
240,000,000 | 3.19 | 07/18/2005 | 239,638,467 | |||||||||||
46,159,000 | 3.14 | 08/10/2005 | 45,997,956 | |||||||||||
64,280,000 | 2.93 | 08/15/2005 | 64,044,976 | |||||||||||
Park Avenue Receivables Corp. | ||||||||||||||
80,851,000 | 3.20 | 07/20/2005 | 80,714,452 | |||||||||||
Park Granada LLC | ||||||||||||||
20,106,000 | 3.08 | 07/05/2005 | 20,099,119 | |||||||||||
135,000,000 | 3.09 | 07/08/2005 | 134,918,887 | |||||||||||
50,137,000 | 3.25 | 07/22/2005 | 50,041,949 | |||||||||||
180,000,000 | 3.38 | 08/29/2005 | 179,004,375 | |||||||||||
Ranger Funding Co. LLC | ||||||||||||||
60,965,000 | 3.19 | 07/15/2005 | 60,889,369 | |||||||||||
200,000,000 | 3.23 | 07/20/2005 | 199,659,056 | |||||||||||
53,300,000 | 3.25 | 07/26/2005 | 53,179,705 | |||||||||||
Three Pillars Funding LLC | ||||||||||||||
30,675,000 | 3.06 | 07/20/2005 | 30,625,460 | |||||||||||
Yorktown Capital LLC | ||||||||||||||
60,790,000 | 3.05 | 07/15/2005 | 60,717,896 | |||||||||||
31,668,000 | 3.25 | 07/26/2005 | 31,596,527 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Commercial Paper and Corporate Obligations (continued) | ||||||||||||||
Business Credit Institution | ||||||||||||||
General Electric Capital Corp. | ||||||||||||||
$ | 495,000,000 | 2.93 | % | 08/12/2005 | $ | 493,307,925 | ||||||||
195,000,000 | 3.30 | 09/12/2005 | 193,695,125 | |||||||||||
Commercial Banks | ||||||||||||||
Bank of America Corp. | ||||||||||||||
250,000,000 | 3.16 | 08/15/2005 | 249,012,500 | |||||||||||
195,000,000 | 2.93 | 08/16/2005 | 194,271,188 | |||||||||||
150,000,000 | 3.12 | 09/07/2005 | 149,116,000 | |||||||||||
Security and Commodity Brokers, Dealers and Services | ||||||||||||||
Bear Stearns Companies, Inc. | ||||||||||||||
500,000,000 | 3.45 | 07/01/2005 | 500,000,000 | |||||||||||
Citigroup Global Market Holdings, Inc. | ||||||||||||||
125,000,000 | 3.18 | 08/19/2005 | 124,458,958 | |||||||||||
Total Commercial Paper and Corporate Obligations | $ | 9,303,968,339 | ||||||||||||
Bank Note—0.1% | ||||||||||||||
Wachovia Corp. | ||||||||||||||
$ | 26,330,000 | 7.55 | % | 08/18/2005 | $ | 26,503,391 | ||||||||
Total Bank Note | $ | 26,503,391 | ||||||||||||
Certificates of Deposit—5.5% | ||||||||||||||
Bank of New York | ||||||||||||||
$ | 147,000,000 | 3.70 | % | 05/10/2006 | $ | 147,000,000 | ||||||||
Citibank, N.A. | ||||||||||||||
15,000,000 | 3.34 | 09/14/2005 | 15,000,000 | |||||||||||
42,000,000 | 3.44 | 09/29/2005 | 42,000,000 | |||||||||||
Marshall & Ilsley Bank | ||||||||||||||
96,000,000 | 3.77 | 06/19/2006 | 96,000,000 | |||||||||||
National City Bank of Indiana | ||||||||||||||
208,000,000 | 3.77 | 03/29/2006 | 208,007,541 | |||||||||||
Regions Bank | ||||||||||||||
273,000,000 | 3.36 | 10/31/2005 | 273,000,000 | |||||||||||
Suntrust Bank | ||||||||||||||
150,000,000 | 3.43 | 09/28/2005 | 150,000,000 | |||||||||||
335,000,000 | 3.35 | 10/24/2005 | 335,000,000 | |||||||||||
Total Certificates of Deposit | $ | 1,266,007,541 | ||||||||||||
Master Demand Notes—1.6% | ||||||||||||||
Bank of America Securities LLC | ||||||||||||||
$ | 365,000,000 | 3.39 | % | 08/02/2005 | $ | 365,000,000 | ||||||||
Total Master Demand Notes | $ | 365,000,000 | ||||||||||||
Medium Term Notes—0.1% | ||||||||||||||
Citigroup, Inc. | ||||||||||||||
$ | 26,000,000 | 6.75 | % | 12/01/2005 | $ | 26,424,265 | ||||||||
Merrill Lynch & Co., Inc. | ||||||||||||||
7,000,000 | 6.00 | 07/15/2005 | 7,009,663 | |||||||||||
Total Medium Term Notes | $ | 33,433,928 | ||||||||||||
U.S. Government Agency Obligations—22.3% | ||||||||||||||
Federal Home Loan Bank(a) | ||||||||||||||
$ | 250,000,000 | 3.02 | % | 07/02/2005 | $ | 249,850,486 | ||||||||
210,000,000 | 3.01 | 07/03/2005 | 209,972,857 | |||||||||||
275,000,000 | 3.00 | 07/05/2005 | 274,959,973 | |||||||||||
190,000,000 | 3.15 | 08/16/2005 | 189,892,201 | |||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
909,125,000 | 3.08(a) | 07/07/2005 | 909,125,000 | |||||||||||
5,000,000 | 7.00 | 07/15/2005 | 5,008,945 | |||||||||||
245,000,000 | 3.18(a) | 08/07/2005 | 245,000,000 | |||||||||||
275,615,000 | 3.34(a) | 09/09/2005 | 275,626,979 | |||||||||||
Federal National Mortgage Association | ||||||||||||||
200,000,000 | 2.99(a) | 07/03/2005 | 199,966,396 | |||||||||||
120,000,000 | 3.04(a) | 07/07/2005 | 119,896,615 | |||||||||||
400,000,000 | 3.21(a) | 07/29/2005 | 399,883,131 | |||||||||||
435,000,000 | 3.09(a) | 08/06/2005 | 434,803,633 | |||||||||||
350,000,000 | 3.18(a) | 08/22/2005 | 349,812,458 | |||||||||||
580,000,000 | 3.22(a) | 09/06/2005 | 579,933,220 | |||||||||||
200,000,000 | 3.24(a) | 09/07/2005 | 199,824,245 | |||||||||||
339,200,000 | 2.40 | 10/14/2005 | 336,825,600 | |||||||||||
125,000,000 | 2.53 | 10/14/2005 | 124,077,604 | |||||||||||
Total U.S. Government Agency Obligations | $ | 5,104,459,343 | ||||||||||||
Variable Rate Obligations(a)—12.9% | ||||||||||||||
Allstate Life Global Funding II | ||||||||||||||
$ | 50,000,000 | 3.21 | % | 07/15/2005 | $ | 50,000,000 | ||||||||
70,000,000 | 3.28 | 07/18/2005 | 70,000,000 | |||||||||||
American Express Bank FSB | ||||||||||||||
100,000,000 | 3.21 | 07/13/2005 | 100,038,028 | |||||||||||
American Express Centurion Bank | ||||||||||||||
100,000,000 | 3.20 | 07/18/2005 | 100,000,000 | |||||||||||
105,000,000 | 3.28 | 07/28/2005 | 105,000,000 | |||||||||||
American Express Credit Corp. | ||||||||||||||
70,000,000 | 3.23 | 07/05/2005 | 70,000,000 | |||||||||||
45,000,000 | 3.37 | 07/22/2005 | 45,015,436 | |||||||||||
BellSouth Telecommunications, Inc. | ||||||||||||||
200,000,000 | 3.41 | 09/06/2005 | 200,000,000 | |||||||||||
Citigroup, Inc. | ||||||||||||||
60,000,000 | 3.37 | 09/01/2005 | 60,006,152 | |||||||||||
First Union National Bank | ||||||||||||||
17,000,000 | 3.59 | 07/15/2005 | 17,044,210 | |||||||||||
General Electric Capital Corp. | ||||||||||||||
156,000,000 | 3.28 | 07/11/2005 | 156,000,000 | |||||||||||
Hartford Life Insurance Co.(b) | ||||||||||||||
100,000,000 | 3.24 | 07/01/2005 | 100,000,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Variable Rate Obligations(a) (continued) | ||||||||||||||
Merrill Lynch & Co., Inc. | ||||||||||||||
$ | 35,000,000 | 3.25 | % | 07/01/2005 | $ | 35,000,000 | ||||||||
150,000,000 | 3.45 | 07/01/2005 | 150,025,640 | |||||||||||
125,000,000 | 3.18 | 07/05/2005 | 125,000,000 | |||||||||||
100,000,000 | 3.22 | 07/05/2005 | 100,035,903 | |||||||||||
23,260,000 | 3.59 | 07/13/2005 | 23,315,019 | |||||||||||
Metropolitan Life Global Funding I | ||||||||||||||
85,000,000 | 3.39 | 07/28/2005 | 85,000,000 | |||||||||||
Monumental Life Insurance Co.(b) | ||||||||||||||
120,000,000 | 3.26 | 07/01/2005 | 120,000,000 | |||||||||||
55,000,000 | 3.27 | 07/01/2005 | 55,000,000 | |||||||||||
Morgan Stanley | ||||||||||||||
100,000,000 | 3.51 | 07/01/2005 | 100,000,000 | |||||||||||
25,000,000 | 3.18 | 07/05/2005 | 25,000,000 | |||||||||||
150,000,000 | 3.35 | 07/27/2005 | 150,000,000 | |||||||||||
New York Life Insurance Co.(b) | ||||||||||||||
25,000,000 | 3.11 | 07/01/2005 | 25,000,000 | |||||||||||
50,000,000 | 3.17 | 07/01/2005 | 50,000,000 | |||||||||||
225,000,000 | 3.53 | 09/30/2005 | 225,000,000 | |||||||||||
Pacific Life Insurance Co. | ||||||||||||||
100,000,000 | 3.17 | 07/05/2005 | 100,000,000 | |||||||||||
50,000,000 | 3.20 | 07/13/2005 | 50,000,000 | |||||||||||
Travelers Insurance Co.(b) | ||||||||||||||
150,000,000 | 3.29 | 07/28/2005 | 150,000,000 | |||||||||||
Wachovia Asset Securitization, Inc.(b) | ||||||||||||||
95,000,000 | 3.29 | 07/25/2005 | 95,000,000 | |||||||||||
166,924,078 | 3.30 | 07/25/2005 | 166,924,078 | |||||||||||
Wells Fargo & Co. | ||||||||||||||
42,500,000 | 3.51 | 09/29/2005 | 42,507,304 | |||||||||||
Total Variable Rate Obligations | $ | 2,945,911,770 | ||||||||||||
Time Deposits—1.5% | ||||||||||||||
Wells Fargo Bank | ||||||||||||||
$ | 350,000,000 | 3.31 | % | 07/01/2005 | $ | 350,000,000 | ||||||||
Total Time Deposits | $ | 350,000,000 | ||||||||||||
Total Investments before Repurchase Agreement | $ | 19,395,284,312 | ||||||||||||
Repurchase Agreements-Unaffiliated Issuers(c)—14.2% | ||||||||||||||
Citigroup Global Markets, Inc. | ||||||||||||||
$ | 450,000,000 | 3.54 | % | 07/01/2005 | $ | 450,000,000 | ||||||||
Maturity Value: $450,044,247 | ||||||||||||||
Collateralized by various corporate issues, 3.54%, due 6/12/2006 | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
381,300,000 | 2.91 | 07/01/2005 | 381,300,000 | |||||||||||
Maturity Value: $381,330,769 | ||||||||||||||
Joint Repurchase Agreement Account II | ||||||||||||||
2,177,400,000 | 3.41 | 07/01/2005 | 2,177,400,000 | |||||||||||
Maturity Value: $2,177,606,067 | ||||||||||||||
UBS Securities LLC | ||||||||||||||
250,000,000 | 3.40 | 07/01/2005 | 250,000,000 | |||||||||||
Maturity Value: $250,023,609 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corporation, 0.00% to 8.00%, due 08/01/2008 to 04/01/2035 and Federal National Mortgage Association, 4.50% to 10.50%, due 03/01/2009 to 06/01/2035 | ||||||||||||||
Total Repurchase Agreements-Unaffiliated Issuers | $ | 3,258,700,000 | ||||||||||||
Repurchase Agreements-Affiliated Issuers(c)—1.2% | ||||||||||||||
Goldman Sachs & Co. | ||||||||||||||
$ | 75,100,000 | 3.38 | 07/01/2005 | $ | 75,100,000 | |||||||||
Maturity Value: $75,107,051 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.50%, due 11/01/2034 and Federal National Mortgage Association, 4.00% to 6.00%, due 04/01/2019 to 04/01/2035 | ||||||||||||||
Goldman Sachs & Co. | ||||||||||||||
200,000,000 | 3.43 | 07/01/2005 | 200,000,000 | |||||||||||
Maturity Value: $200,019,056 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.50%, due 11/01/2034 and Federal National Mortgage Association, 4.00% to 6.00%, due 04/01/2019 to 04/01/2035 | ||||||||||||||
Total Repurchase Agreements-Affiliated Issuers | $ | 275,100,000 | ||||||||||||
Total Investments—100.0% | $ | 22,929,084,312 | ||||||||||||
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a) | Variable or floating rate security index is based on either Federal Funds or LIBOR rate. | |
(b) | Securities not registered under the Securities Act of 1933, as amended. Such securities have been determined to be illiquid by the Investment Adviser. At June 30, 2005, these securities amounted to $986,924,078 or approximately 4.2% of net assets. | |
(c) | Unless noted, all repurchase agreements were entered into on June 30, 2005. |
Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is baed upon current interest rate indices.
Maturity dates represent either the stated date on the security or the next interest reset date for floating rate securities.
ADDITIONAL INVESTMENT INFORMATION |
Joint Repurchase Agreement Account I—At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account I which equaled $381,300,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
ABN AMRO, Inc. | $ | 1,200,000,000 | 2.90 | % | 07/01/2005 | $ | 1,200,096,667 | |||||||
Banc of America Securities LLC | 400,000,000 | 2.87 | 07/01/2005 | 400,031,889 | ||||||||||
Deutsche Bank Securities, Inc. | 500,000,000 | 2.98 | 07/01/2005 | 500,041,389 | ||||||||||
Greenwich Capital Markets | 200,000,000 | 2.90 | 07/01/2005 | 200,016,111 | ||||||||||
J.P. Morgan Securities, Inc. | 500,000,000 | 2.85 | 07/01/2005 | 500,039,583 | ||||||||||
Merrill Lynch | 400,000,000 | 2.75 | 07/01/2005 | 400,030,556 | ||||||||||
Morgan Stanley & Co. | 1,199,800,000 | 2.90 | 07/01/2005 | 1,199,896,650 | ||||||||||
UBS Securities LLC | 1,100,000,000 | 2.98 | 07/01/2005 | 1,100,091,056 | ||||||||||
TOTAL | $ | 5,499,800,000 | $ | 5,500,243,901 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account I was fully collateralized by U.S. Treasury Bills, 0.00%, due 07/14/2005 to 07/14/2006; U.S. Treasury Bonds, 10.37% to 13.88%, due 05/15/2011 to 02/15/2015; U.S. Treasury Bonds Callable, 0.00% to 14.00%, due 11/15/2010 to 11/15/2014; U.S. Treasury Interest-Only Stripped Securities, 0.00%, due 08/15/2005 to 05/15/2015; U.S. Treasury Notes, 1.50% to 6.88%, due 07/31/2005 to 05/15/2015 and U.S. Treasury Principal-Only Stripped Securities, 0.00% to 11.25%, due 08/15/2005 to 02/15/2015. |
Joint Repurchase Agreement Account II—At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account II which equaled $2,177,400,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
Banc of America Securities LLC | $ | 1,500,000,000 | 3.40 | % | 07/01/2005 | $ | 1,500,141,667 | |||||||
Barclays Capital PLC | 700,000,000 | 3.40 | 07/01/2005 | 700,066,111 | ||||||||||
Deutsche Bank Securities, Inc. | 1,000,000,000 | 3.40 | 07/01/2005 | 1,000,094,444 | ||||||||||
Deutsche Bank Securities, Inc. | 300,000,000 | 3.45 | 07/01/2005 | 300,028,750 | ||||||||||
Greenwich Capital Markets | 400,000,000 | 3.43 | 07/01/2005 | 400,038,111 | ||||||||||
J.P. Morgan Securities, Inc. | 400,000,000 | 3.41 | 07/01/2005 | 400,037,889 | ||||||||||
Morgan Stanley & Co. | 1,000,500,000 | 3.40 | 07/01/2005 | 1,000,594,492 | ||||||||||
UBS Securities LLC | 250,000,000 | 3.40 | 07/01/2005 | 250,023,611 | ||||||||||
Wachovia Capital Markets | 250,000,000 | 3.40 | 07/01/2005 | 250,023,611 | ||||||||||
Westdeutsche Landesbank AG | 500,000,000 | 3.43 | 07/01/2005 | 500,047,639 | ||||||||||
TOTAL | $ | 6,300,500,000 | $ | 6,301,096,325 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 2.50% to 6.70%, due 09/13/2005 to 06/15/2007; Federal Home Loan Bank, 4.37% to 5.49%, due 12/22/2008 to 08/15/2011; Federal Home Loan Mortgage Association, 0.00% to 8.00%, due 07/06/2005 to 07/01/2035; Federal National Mortgage Association, 0.00% to 9.50%, due 08/24/2005 to 07/01/2035 and Government National Mortgage Association, 5.50% to 6.50%, due 04/15/2032 to 06/15/2035. |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Commercial Paper and Corporate Obligations—37.7% | ||||||||||||||
Asset-Backed | ||||||||||||||
Adirondack Corp. | ||||||||||||||
$ | 175,000,000 | 3.20 | % | 08/09/2005 | $ | 174,393,333 | ||||||||
Amstel Funding Corp. | ||||||||||||||
200,000,000 | 3.17 | 08/15/2005 | 199,207,500 | |||||||||||
173,236,000 | 3.24 | 08/31/2005 | 172,284,934 | |||||||||||
100,000,000 | 3.40 | 09/15/2005 | 99,282,222 | |||||||||||
Aspen Funding Corp. | ||||||||||||||
75,000,000 | 3.06 | 07/20/2005 | 74,878,875 | |||||||||||
40,000,000 | 3.18 | 08/18/2005 | 39,830,400 | |||||||||||
50,000,000 | 3.20 | 08/23/2005 | 49,764,444 | |||||||||||
Atlantic Asset Securitization Corp. | ||||||||||||||
39,128,000 | 3.19 | 07/15/2005 | 39,079,460 | |||||||||||
Atlantis One Funding Corp. | ||||||||||||||
96,392,000 | 3.07 | 07/25/2005 | 96,194,718 | |||||||||||
55,253,000 | 3.21 | 08/24/2005 | 54,986,957 | |||||||||||
88,000,000 | 3.34 | 09/16/2005 | 87,372,279 | |||||||||||
100,000,000 | 3.40 | 09/26/2005 | 99,179,542 | |||||||||||
Citibank Credit Card Issuance Trust (Dakota Corp.) | ||||||||||||||
100,000,000 | 3.23 | 07/20/2005 | 99,829,528 | |||||||||||
CRC Funding LLC | ||||||||||||||
75,000,000 | 3.26 | 09/08/2005 | 74,531,375 | |||||||||||
Davis Square Funding III (Delaware) Corp. | ||||||||||||||
175,000,000 | 3.15 | 08/01/2005 | 174,525,312 | |||||||||||
Davis Square Funding IV (Delaware) Corp. | ||||||||||||||
175,000,000 | 3.06 | 07/05/2005 | 174,940,500 | |||||||||||
Fountain Square Commercial Funding Corp. | ||||||||||||||
55,000,000 | 3.410 | 9/26/200 | 54,546,754 | |||||||||||
Gemini Securitization Corp. | ||||||||||||||
25,000,000 | 3.06 | 07/20/2005 | 24,959,625 | |||||||||||
150,000,000 | 3.41 | 09/27/2005 | 148,749,667 | |||||||||||
Govco, Inc. | ||||||||||||||
50,000,000 | 3.09 | 07/26/2005 | 49,892,708 | |||||||||||
Grampian Funding Ltd. | ||||||||||||||
60,000,000 | 3.08 | 07/26/2005 | 59,871,667 | |||||||||||
88,000,000 | 3.11 | 07/28/2005 | 87,794,740 | |||||||||||
150,000,000 | 3.40 | 09/27/2005 | 148,753,333 | |||||||||||
50,000,000 | 3.24 | 09/30/2005 | 49,590,500 | |||||||||||
Newport Funding Corp. | ||||||||||||||
50,000,000 | 3.08 | 07/22/2005 | 49,910,313 | |||||||||||
80,000,000 | 3.30 | 07/28/2005 | 79,802,000 | |||||||||||
50,000,000 | 3.17 | 08/16/2005 | 49,797,472 | |||||||||||
37,000,000 | 3.20 | 08/23/2005 | 36,825,689 | |||||||||||
Nieuw Amsterdam Receivables Corp. | ||||||||||||||
33,597,000 | 3.29 | 08/08/2005 | 33,480,325 | |||||||||||
55,473,000 | 3.32 | 09/13/2005 | 55,094,428 | |||||||||||
47,398,000 | 3.34 | 09/13/2005 | 47,072,586 | |||||||||||
25,211,000 | 3.37 | 09/16/2005 | 25,029,278 | |||||||||||
25,221,000 | 3.37 | 09/21/2005 | 25,027,401 | |||||||||||
25,222,000 | 3.38 | 09/23/2005 | 25,023,082 | |||||||||||
Old Line Funding Corp. | ||||||||||||||
76,000,000 | 3.19 | 08/22/2005 | 75,649,809 | |||||||||||
84,808,000 | 3.36 | 09/20/2005 | 84,166,852 | |||||||||||
Scaldis Capital LLC | ||||||||||||||
200,000,000 | 3.06 | 07/15/2005 | 199,762,000 | |||||||||||
29,530,000 | 3.29 | 09/12/2005 | 29,332,994 | |||||||||||
Sierra Madre Funding Ltd. | ||||||||||||||
175,000,000 | 3.22 | 07/29/2005 | 174,561,722 | |||||||||||
Thames Asset Global Securitization I | ||||||||||||||
20,920,000 | 3.21 | 08/24/2005 | 20,819,270 | |||||||||||
75,593,000 | 3.31 | 09/06/2005 | 75,127,326 | |||||||||||
Thunder Bay Funding, Inc. | ||||||||||||||
85,974,000 | 3.07 | 07/25/2005 | 85,798,040 | |||||||||||
29,711,000 | 3.18 | 08/15/2005 | 29,592,899 | |||||||||||
75,703,000 | 3.37 | 09/21/2005 | 75,121,895 | |||||||||||
Commercial Banks | ||||||||||||||
Australia New Zealand Banking Group Ltd. | ||||||||||||||
32,000,000 | 3.28 | 07/21/2006 | 32,000,000 | |||||||||||
Banco Santander Central Hispano SA | ||||||||||||||
220,000,000 | 2.98 | 08/17/2005 | 219,144,078 | |||||||||||
Depfa Bank PLC | ||||||||||||||
100,000,000 | 3.27 | 09/08/2005 | 99,373,250 | |||||||||||
34,000,000 | 3.42 | 09/30/2005 | 33,706,070 | |||||||||||
HSBC Bank PLC | ||||||||||||||
50,000,000 | 3.29 | 10/04/2005 | 49,566,562 | |||||||||||
Financial Services | ||||||||||||||
Solitaire Funding LLC | ||||||||||||||
100,000,000 | 2.95 | 08/15/2005 | 99,631,250 | |||||||||||
Mortgage Bank | ||||||||||||||
Nationwide Building Society | ||||||||||||||
110,000,000 | 3.17 | 08/11/2005 | 109,603,496 | |||||||||||
Savings Institutions | ||||||||||||||
Alliance & Leicester PLC | ||||||||||||||
142,000,000 | 3.17 | 08/12/2005 | 141,475,665 | |||||||||||
Security and Commodity Brokers, Dealers and Services | ||||||||||||||
Citigroup Global Market Holdings, Inc. | ||||||||||||||
100,000,000 | 3.18 | 08/19/2005 | 99,567,167 | |||||||||||
Total Commercial Paper and Corporate Obligations | $ | 4,495,503,292 | ||||||||||||
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Certificates of Deposit-Eurodollar—4.1% | ||||||||||||||
Alliance & Leicester PLC | ||||||||||||||
$ | 35,000,000 | 2.51 | % | 10/12/2005 | $ | 35,000,488 | ||||||||
40,000,000 | 3.79 | 03/29/2006 | 40,000,000 | |||||||||||
Barclays Bank PLC | ||||||||||||||
155,000,000 | 3.39 | 09/20/2005 | 154,991,022 | |||||||||||
Calyon | ||||||||||||||
45,000,000 | 3.78 | 03/29/2006 | 45,000,000 | |||||||||||
HSBC Bank PLC | ||||||||||||||
75,000,000 | 3.34 | 09/14/2005 | 74,998,451 | |||||||||||
National Australia Bank Ltd. | ||||||||||||||
85,000,000 | 2.52 | 11/08/2005 | 85,000,000 | |||||||||||
Societe Generale | ||||||||||||||
50,000,000 | 3.00 | 12/21/2005 | 50,000,000 | |||||||||||
Total Certificates of Deposit-Eurodollar | $ | 484,989,961 | ||||||||||||
Certificates of Deposit-Yankeedollar—9.6% | ||||||||||||||
Barclays Bank PLC | ||||||||||||||
$ | 185,000,000 | 3.10 | % | 07/08/2005 | $ | 185,000,179 | ||||||||
Depfa Bank PLC | ||||||||||||||
275,000,000 | 3.07 | 07/14/2005 | 275,000,000 | |||||||||||
Fortis Bank | ||||||||||||||
35,000,000 | 3.70 | 05/10/2006 | 34,998,533 | |||||||||||
Toronto-Dominion Bank | ||||||||||||||
35,000,000 | 3.70 | 05/10/2006 | 35,000,000 | |||||||||||
60,000,000 | 2.72 | 11/14/2005 | 59,997,777 | |||||||||||
65,000,000 | 3.75 | 06/01/2006 | 65,001,456 | |||||||||||
UBS AG | ||||||||||||||
500,000,000 | 3.06 | 07/05/2005 | 500,000,000 | |||||||||||
Total Certificates of Deposit-Yankeedollar | $ | 1,154,997,945 | ||||||||||||
Master Demand Notes—0.8% | ||||||||||||||
Bank of America Securities LLC | ||||||||||||||
$ | 100,000,000 | 3.52 | % | 08/02/2005 | $ | 100,000,000 | ||||||||
Total Master Demand Notes | $ | 100,000,000 | ||||||||||||
U.S. Government Agency Obligations(a)—13.0% | ||||||||||||||
Federal Home Loan Bank | ||||||||||||||
$ | 100,000,000 | 3.02 | % | 07/02/2005 | $ | 99,940,194 | ||||||||
200,000,000 | 3.00 | 07/05/2005 | 199,969,748 | |||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
182,000,000 | 3.08 | 07/07/2005 | 182,000,000 | |||||||||||
Federal National Mortgage Association | ||||||||||||||
170,000,000 | 2.99 | 07/03/2005 | 169,971,437 | |||||||||||
275,000,000 | 3.18 | 08/22/2005 | 274,852,646 | |||||||||||
140,000,000 | 3.22 | 09/06/2005 | 139,984,525 | |||||||||||
485,000,000 | 3.24 | 09/07/2005 | 484,570,321 | |||||||||||
Total U.S. Government Agency Obligations | $ | 1,551,288,871 | ||||||||||||
Variable Rate Obligations(a)—19.2% | ||||||||||||||
Allstate Life Global Funding II | ||||||||||||||
$ | 30,000,000 | 3.28 | % | 07/18/2005 | $ | 30,000,000 | ||||||||
American Express Credit Corp. | ||||||||||||||
74,000,000 | 3.23 | 07/05/2005 | 74,017,903 | |||||||||||
90,000,000 | 3.34 | 08/01/2005 | 90,006,768 | |||||||||||
Barclays Bank PLC | ||||||||||||||
100,000,000 | 3.21 | 07/21/2005 | 99,983,057 | |||||||||||
BNP Paribas SA | ||||||||||||||
155,000,000 | 3.18 | 07/19/2005 | 154,966,426 | |||||||||||
Caixa Geral De Depositos SA | ||||||||||||||
60,000,000 | 3.37 | 09/19/2005 | 59,986,389 | |||||||||||
Canadian Imperial Bank of Commerce | ||||||||||||||
70,000,000 | 3.03 | 07/01/2005 | 69,984,048 | |||||||||||
Credit Suisse First Boston, Inc. | ||||||||||||||
100,000,000 | 3.13 | 07/18/2005 | 100,000,000 | |||||||||||
35,000,000 | 3.20 | 08/09/2005 | 35,000,000 | |||||||||||
DePfa Bank Europe PLC | ||||||||||||||
50,000,000 | 3.42 | 09/15/2005 | 50,000,000 | |||||||||||
Fairway Financial Corp. | ||||||||||||||
50,000,000 | 3.16 | 07/12/2005 | 49,999,423 | |||||||||||
32,000,000 | 3.21 | 07/20/2005 | 31,999,025 | |||||||||||
General Electric Capital Corp. | ||||||||||||||
75,000,000 | 3.28 | 07/11/2005 | 75,000,000 | |||||||||||
HBOS Treasury Services PLC | ||||||||||||||
60,000,000 | 3.17 | 07/11/2005 | 59,998,438 | |||||||||||
225,000,000 | 3.23 | 07/29/2005 | 225,012,774 | |||||||||||
75,000,000 | 3.33 | 08/22/2005 | 75,000,000 | |||||||||||
Metropolitan Life Global Funding I | ||||||||||||||
40,000,000 | 3.26 | 07/15/2005 | 40,000,000 | |||||||||||
Monumental Life Insurance Co.(b) | ||||||||||||||
80,000,000 | 3.26 | 07/01/2005 | 80,000,000 | |||||||||||
Morgan Stanley | ||||||||||||||
25,000,000 | 3.18 | 07/05/2005 | 25,000,000 | |||||||||||
Natexis Banque Populaires | ||||||||||||||
25,000,000 | 3.12 | 07/08/2005 | 24,995,917 | |||||||||||
100,000,000 | 3.23 | 07/08/2005 | 100,008,996 | |||||||||||
140,000,000 | 3.13 | 07/11/2005 | 139,973,095 | |||||||||||
Nationwide Building Society | ||||||||||||||
50,000,000 | 3.51 | 09/28/2005 | 50,000,000 | |||||||||||
New York Life Insurance Co.(b) | ||||||||||||||
25,000,000 | 3.11 | 07/01/2005 | 25,000,000 | |||||||||||
40,000,000 | 3.17 | 07/01/2005 | 40,000,000 | |||||||||||
100,000,000 | 3.53 | 09/30/2005 | 100,000,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Variable Rate Obligations(a) (continued) | ||||||||||||||
Societe Generale | ||||||||||||||
$ | 45,000,000 | 3.26 | % | 08/01/2005 | $ | 44,989,330 | ||||||||
Unicredito Italiano SPA | ||||||||||||||
60,000,000 | 3.31 | 09/09/2005 | 59,988,689 | |||||||||||
85,000,000 | 3.43 | 09/30/2005 | 84,967,455 | |||||||||||
World Savings Bank, FSB | ||||||||||||||
200,000,000 | 3.13 | 07/11/2005 | 199,996,142 | |||||||||||
Total Variable Rate Obligations | $ | 2,295,873,875 | ||||||||||||
Time Deposit—3.4% | ||||||||||||||
Deutsche Bank AG | ||||||||||||||
$ | 400,000,000 | 3.41 | % | 07/01/2005 | $ | 400,000,000 | ||||||||
Total Time Deposits | $ | 400,000,000 | ||||||||||||
Total Investments before Repurchase Agreement | $ | 10,482,653,944 | ||||||||||||
Repurchase Agreements-Unaffiliated Issuers(c)—10.2% | ||||||||||||||
Citigroup Global Markets, Inc. | ||||||||||||||
$ | 375,000,000 | 3.54 | % | 07/01/2005 | $ | 375,000,000 | ||||||||
Maturity Value: $375,036,875 | ||||||||||||||
Collateralized by various corporate issues, 0.00% to 6.85%, due 11/15/2008 to 12/01/2034 | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
92,100,000 | 2.91 | 07/01/2005 | 92,100,000 | |||||||||||
Maturity Value: $92,107,432 | ||||||||||||||
Joint Repurchase Agreement Account II | ||||||||||||||
500,000,000 | 3.41 | 07/01/2005 | 500,000,000 | |||||||||||
Maturity Value: $500,047,319 | ||||||||||||||
UBS Securities LLC | ||||||||||||||
250,000,000 | 3.40 | 07/01/2005 | 250,000,000 | |||||||||||
Maturity Value: $250,023,611 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 6.50%, due 05/01/2031 and Federal National Mortgage Association, 5.00%, due 10/01/2033 | ||||||||||||||
Total Repurchase Agreements-Unaffiliated Issuers | $ | 1,217,100,000 | ||||||||||||
Repurchase Agreements-Affiliated Issuers(c)—2.3% | ||||||||||||||
Goldman Sachs & Co. | ||||||||||||||
$ | 78,200,000 | 3.38 | % | 07/01/2005 | $ | 78,200,000 | ||||||||
Maturity Value: $78,207,342 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.50%, due 11/01/2034 and Federal National Mortgage Association, 4.00% to 6.00%, due 04/01/2019 to 04/01/2035 | ||||||||||||||
Goldman Sachs & Co, | ||||||||||||||
200,000,000 | 3.43 | 07/01/2005 | 200,000,000 | |||||||||||
Maturity Value: $200,019,056 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.50%, due 11/01/2034 and Federal National Mortgage Association, 4.00% to 6.00%, due 04/01/2019 to 04/01/2035 | ||||||||||||||
Total Repurchase Agreements-Affiliated Issuers | $ | 278,200,000 | ||||||||||||
Total Investments—100.3% | $ | 11,977,953,944 | ||||||||||||
Interest rates represent either the stated coupon rate, annualized yield on the date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.
Maturity dates represent either the stated date on the security or the next interest reset date for the floating rate securities.
(a) | Variable or floating rate security index is based on either Federal Funds or LIBOR rate. |
(b) | Securities not registered under the Securities Act of 1933, as amended. Such securities have been determined to be illiquid by the Investment Adviser. At June 30, 2005, these securities amounted to $245,000,000 or approximately 2.0% of net assets. |
(c) | Unless noted, all repurchase agreements were entered into on June 30, 2005. |
ADDITIONAL INVESTMENT INFORMATION |
Joint Repurchase Agreement Account I— At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account I which equaled $92,100,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
ABN AMRO, Inc. | $ | 1,200,000,000 | 2.90 | % | 07/01/2005 | $ | 1,200,096,667 | |||||||
Banc of America Securities LLC | 400,000,000 | 2.87 | 07/01/2005 | 400,031,889 | ||||||||||
Deutsche Bank Securities, Inc. | 500,000,000 | 2.98 | 07/01/2005 | 500,041,389 | ||||||||||
Greenwich Capital Markets | 200,000,000 | 2.90 | 07/01/2005 | 200,016,111 | ||||||||||
J.P. Morgan Securities, Inc. | 500,000,000 | 2.85 | 07/01/2005 | 500,039,583 | ||||||||||
Merrill Lynch | 400,000,000 | 2.75 | 07/01/2005 | 400,030,556 | ||||||||||
Morgan Stanley & Co. | 1,199,800,000 | 2.90 | 07/01/2005 | 1,199,896,650 | ||||||||||
UBS Securities LLC | 1,100,000,000 | 2.98 | 07/01/2005 | 1,100,091,056 | ||||||||||
TOTAL | $ | 5,499,800,000 | $ | 5,500,243,901 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account I was fully collateralized by U.S. Treasury Bills, 0.00%, due 07/14/2005 to 07/14/2006; U.S. Treasury Bonds, 10.37% to 13.88%, due 05/15/2011 to 02/15/2015; U.S. Treasury Bonds Callable, 0.00% to 14.00%, due 11/15/2010 to 11/15/2014; U.S. Treasury Interest-Only Stripped Securities, 0.00%, due 08/15/2005 to 05/15/2015; U.S. Treasury Notes, 1.50% to 6.88%, due 07/31/2005 to 05/15/2015 and U.S. Treasury Principal-Only Stripped Securities, 0.00% to 11.25%, due 08/15/2005 to 02/15/2015. |
Joint Repurchase Agreement Account II— At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account II which equaled $500,000,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
Banc of America Securities LLC | $ | 1,500,000,000 | 3.40 | % | 07/01/2005 | $ | 1,500,141,667 | |||||||
Barclays Capital PLC | 700,000,000 | 3.40 | 07/01/2005 | 700,066,111 | ||||||||||
Deutsche Bank Securities, Inc. | 1,000,000,000 | 3.40 | 07/01/2005 | 1,000,094,444 | ||||||||||
Deutsche Bank Securities, Inc. | 300,000,000 | 3.45 | 07/01/2005 | 300,028,750 | ||||||||||
Greenwich Capital Markets | 400,000,000 | 3.43 | 07/01/2005 | 400,038,111 | ||||||||||
J.P. Morgan Securities, Inc. | 400,000,000 | 3.41 | 07/01/2005 | 400,037,889 | ||||||||||
Morgan Stanley & Co. | 1,000,500,000 | 3.40 | 07/01/2005 | 1,000,594,492 | ||||||||||
UBS Securities LLC | 250,000,000 | 3.40 | 07/01/2005 | 250,023,611 | ||||||||||
Wachovia Capital Markets | 250,000,000 | 3.40 | 07/01/2005 | 250,023,611 | ||||||||||
Westdeutsche Landesbank AG | 500,000,000 | 3.43 | 07/01/2005 | 500,047,639 | ||||||||||
TOTAL | $ | 6,300,500,000 | $ | 6,301,096,325 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 2.50% to 6.70%, due 09/13/2005 to 06/15/2007; Federal Home Loan Bank, 4.37% to 5.49%, due 12/22/2008 to 08/15/2011; Federal Home Loan Mortgage Association, 0.00% to 8.00%, due 07/06/2005 to 07/01/2035; Federal National Mortgage Association, 0.00% to 9.50%, due 08/24/2005 to 07/01/2035 and Government National Mortgage Association, 5.50% to 6.50%, due 04/15/2032 to 06/15/2035. |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Treasury Obligations—5.5% | ||||||||||||||
United States Treasury Notes | ||||||||||||||
$ | 123,000,000 | 1.88 | % | 11/30/2005 | $ | 122,640,466 | ||||||||
30,000,000 | 1.50 | 03/31/2006 | 29,561,397 | |||||||||||
45,000,000 | 2.00 | 05/15/2006 | 44,451,562 | |||||||||||
45,000,000 | 2.50 | 05/31/2006 | 44,590,701 | |||||||||||
Total U.S. Treasury Obligations | $ | 241,244,126 | ||||||||||||
Total Investments before Repurchase Agreement | $ | 241,244,126 | ||||||||||||
Repurchase Agreements(a)—94.7% | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
$ | 4,031,600,000 | 2.91 | % | 07/01/2005 | $ | 4,031,600,000 | ||||||||
Maturity Value: $4,031,925,328 | ||||||||||||||
Lehman Brothers Holdings, Inc. | ||||||||||||||
10,800,000 | 2.90 | 07/01/2005 | 10,800,000 | |||||||||||
Maturity Value: $10,800,870 | ||||||||||||||
Collateralized by U.S. Treasury Notes, 1.63% to 5.63%, due 10/31/2005 to 5/15/2014. | ||||||||||||||
UBS Securities LLC | ||||||||||||||
100,000,000 | 2.93 | 07/01/2005 | 100,000,000 | |||||||||||
Maturity Value: $100,008,139 | ||||||||||||||
Collateralized by U.S. Treasury Notes, 3.50% to 4.25%, due 02/15/2010 to 01/15/2013 | ||||||||||||||
Total Repurchase Agreements | $ | 4,142,400,000 | ||||||||||||
Total Investments—100.2% | $ | 4,383,644,126 | ||||||||||||
(a) | Unless noted, all repurchase agreements were entered into on June 30, 2005. |
Interest rates represent either the stated coupon rate or the annualized yield on date of purchase for discounted securities.
ADDITIONAL INVESTMENT INFORMATION |
Joint Repurchase Agreement Account I— At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account I which equaled $4,031,600,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
ABN AMRO, Inc. | $ | 1,200,000,000 | 2.90 | % | 07/01/2005 | $ | 1,200,096,667 | |||||||
Banc of America Securities LLC | 400,000,000 | 2.87 | 07/01/2005 | 400,031,889 | ||||||||||
Deutsche Bank Securities, Inc. | 500,000,000 | 2.98 | 07/01/2005 | 500,041,389 | ||||||||||
Greenwich Capital Markets | 200,000,000 | 2.90 | 07/01/2005 | 200,016,111 | ||||||||||
J.P. Morgan Securities, Inc. | 500,000,000 | 2.85 | 07/01/2005 | 500,039,583 | ||||||||||
Merrill Lynch | 400,000,000 | 2.75 | 07/01/2005 | 400,030,556 | ||||||||||
Morgan Stanley & Co. | 1,199,800,000 | 2.90 | 07/01/2005 | 1,199,896,650 | ||||||||||
UBS Securities LLC | 1,100,000,000 | 2.98 | 07/01/2005 | 1,100,091,056 | ||||||||||
TOTAL | $ | 5,499,800,000 | $ | 5,500,243,901 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account I was fully collateralized by U.S. Treasury Bills, 0.00%, due 07/14/2005 to 07/14/2006; U.S. Treasury Bonds, 10.37% to 13.88%, due 05/15/2011 to 02/15/2015; U.S. Treasury Bonds Callable, 0.00% to 14.00%, due 11/15/2010 to 11/15/2014; U.S. Treasury Interest-Only Stripped Securities, 0.00%, due 08/15/2005 to 05/15/2015; U.S. Treasury Notes, 1.50% to 6.88%, due 07/31/2005 to 05/15/2015 and U.S. Treasury Principal-Only Stripped Securities, 0.00% to 11.25%, due 08/15/2005 to 02/15/2015. |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Treasury Obligations—100.2% | ||||||||||||||
United States Treasury Bills | ||||||||||||||
$ | 24,000,000 | 2.70 | % | 07/07/2005 | $ | 23,989,200 | ||||||||
205,000,000 | 2.73 | 07/07/2005 | 204,906,725 | |||||||||||
104,500,000 | 2.74 | 07/07/2005 | 104,452,365 | |||||||||||
150,000,000 | 2.72 | 07/14/2005 | 149,852,938 | |||||||||||
1,200,000 | 2.73 | 07/14/2005 | 1,198,817 | |||||||||||
6,700,000 | 2.83 | 07/14/2005 | 6,693,153 | |||||||||||
15,000,000 | 2.90 | 07/21/2005 | 14,975,833 | |||||||||||
115,000,000 | 2.87 | 07/28/2005 | 114,752,463 | |||||||||||
150,000,000 | 2.90 | 07/28/2005 | 149,674,312 | |||||||||||
35,000,000 | 2.90 | 07/28/2005 | 34,923,875 | |||||||||||
60,200,000 | 2.81 | 08/11/2005 | 60,007,686 | |||||||||||
250,000,000 | 2.79 | 08/18/2005 | 249,070,000 | |||||||||||
44,300,000 | 2.83 | 08/18/2005 | 44,132,841 | |||||||||||
25,000,000 | 3.02 | 09/01/2005 | 24,870,188 | |||||||||||
295,000,000 | 2.94 | 09/08/2005 | 293,337,675 | |||||||||||
300,000,000 | 2.95 | 09/08/2005 | 298,306,625 | |||||||||||
9,000,000 | 2.96 | 09/22/2005 | 8,938,684 | |||||||||||
50,000,000 | 2.97 | 09/22/2005 | 49,657,625 | |||||||||||
68,100,000 | 2.99 | 09/22/2005 | 67,630,153 | |||||||||||
500,000 | 3.00 | 09/22/2005 | 496,547 | |||||||||||
85,000,000 | 3.00 | 09/22/2005 | 84,412,083 | |||||||||||
70,000,000 | 3.04 | 09/22/2005 | 69,510,185 | |||||||||||
Total U.S. Treasury Obligations | $ | 2,055,789,973 | ||||||||||||
Total Investments—100.2% | $ | 2,055,789,973 | ||||||||||||
Interest rates represent the annualized yield on date of purchase for discounted securities.
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Agency Obligations—59.8% | ||||||||||||||
Federal Home Loan Bank(a) | ||||||||||||||
$ | 50,000,000 | 3.02 | % | 07/02/2005 | $ | 49,970,097 | ||||||||
20,000,000 | 3.01 | 07/03/2005 | 19,997,415 | |||||||||||
50,000,000 | 3.00 | 07/05/2005 | 49,991,810 | |||||||||||
48,000,000 | 3.16 | 07/21/2005 | 47,967,422 | |||||||||||
110,000,000 | 3.10 | 08/02/2005 | 109,949,304 | |||||||||||
50,000,000 | 3.15 | 08/16/2005 | 49,971,632 | |||||||||||
50,000,000 | 3.36 | 09/28/2005 | 49,981,502 | |||||||||||
40,000,000 | 3.36 | 09/29/2005 | 39,969,320 | |||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
50,000,000 | 3.08 | (a) | 07/07/2005 | 50,000,000 | ||||||||||
25,000,000 | 3.34 | (a) | 09/09/2005 | 25,000,285 | ||||||||||
50,000,000 | 3.32 | 09/20/2005 | 49,626,500 | |||||||||||
40,000,000 | 3.34 | (a) | 09/27/2005 | 39,964,763 | ||||||||||
29,250,000 | 3.58 | 03/17/2006 | 28,497,686 | |||||||||||
Federal National Mortgage Association | ||||||||||||||
25,000,000 | 2.99 | (a) | 07/03/2005 | 24,995,799 | ||||||||||
123,000,000 | 3.04 | (a) | 07/07/2005 | 122,907,618 | ||||||||||
240,500,000 | 3.05 | (a) | 07/07/2005 | 240,419,424 | ||||||||||
50,000,000 | 7.00 | 07/15/2005 | 50,074,660 | |||||||||||
70,000,000 | 3.21 | (a) | 07/29/2005 | 69,994,593 | ||||||||||
96,500,000 | 3.21 | (a) | 07/29/2005 | 96,470,211 | ||||||||||
50,000,000 | 3.09 | (a) | 08/06/2005 | 49,977,429 | ||||||||||
50,000,000 | 2.88 | 08/17/2005 | 49,812,000 | |||||||||||
138,876,000 | 2.92 | 08/17/2005 | 138,346,574 | |||||||||||
205,000,000 | 3.18 | (a) | 08/22/2005 | 204,890,203 | ||||||||||
38,000,000 | 3.17 | 08/31/2005 | 37,796,209 | |||||||||||
148,000,000 | 3.22 | (a) | 09/06/2005 | 147,983,128 | ||||||||||
100,000,000 | 3.24 | (a) | 09/07/2005 | 99,908,650 | ||||||||||
58,000,000 | 3.31 | (a) | 09/22/2005 | 57,949,365 | ||||||||||
50,000,000 | 2.53 | 10/14/2005 | 49,631,042 | |||||||||||
49,000,000 | 3.28 | 11/02/2005 | 48,446,409 | |||||||||||
40,000,000 | 3.30 | 11/02/2005 | 39,545,333 | |||||||||||
45,000,000 | 3.15 | 02/06/2006 | 44,993,382 | |||||||||||
30,000,000 | 3.56 | 03/17/2006 | 29,231,633 | |||||||||||
36,000,000 | 2.50 | 06/15/2006 | 35,589,565 | |||||||||||
Total U.S. Government Agency Obligations | $ | 2,249,850,963 | ||||||||||||
Total Investments before Repurchase Agreements | $ | 2,249,850,963 | ||||||||||||
Repurchase Agreements-Unaffiliated Issuers(b)—38.3% | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
$ | 42,900,000 | 2.91 | % | 07/01/2005 | $ | 42,900,000 | ||||||||
Maturity Value: $42,903,462 | ||||||||||||||
Joint Repurchase Agreement Account II | ||||||||||||||
1,200,000,000 | 3.41 | 07/01/2005 | 1,200,000,000 | |||||||||||
Maturity Value: $1,200,113,567 | ||||||||||||||
SG Warburg Repo | ||||||||||||||
$ | 25,500,000 | 2.93 | % | 07/01/2005 | $ | 25,500,000 | ||||||||
Maturity Value: $25,502,075 | ||||||||||||||
Collateralized by U.S. Treasury Note, 3.63%, due 06/15/2010 | ||||||||||||||
SG Warburg Repo | ||||||||||||||
75,000,000 | 3.29 | 08/09/2005 | 75,000,000 | |||||||||||
Maturity Value: $75,274,167 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 0.00% to 7.25%, due 07/01/2006 to 04/01/2035 and Federal National Mortgage Association, 5.00% to 8.00%, due 03/01/2012 to 06/01/2035 | ||||||||||||||
UBS LLC | ||||||||||||||
96,000,000 | 3.05 | 07/05/2005 | 96,000,000 | |||||||||||
Maturity Value: $96,553,067 | ||||||||||||||
Dated: 04/28/05 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.50% to 7.50%, due 05/01/2009 to 08/01/2034 and Federal National Mortgage Association, 4.00% to 7.50%, due 02/01/2018 to 05/01/2035 | ||||||||||||||
Total Repurchase Agreements-Unaffiliated Issuers | $ | 1,439,400,000 | ||||||||||||
Repurchase Agreement-Affiliated Issuer(b)—1.9% | ||||||||||||||
Goldman, Sachs & Co. | ||||||||||||||
$ | 71,700,000 | 3.38 | % | 07/01/2005 | $ | 71,700,000 | ||||||||
Maturity Value: $71,706,732 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 5.50%, due 01/01/2035 | ||||||||||||||
Total Repurchase Agreement-Affiliated Issuer | $ | 71,700,000 | ||||||||||||
Total Investments—100.0% | $ | 3,760,950,963 | ||||||||||||
(a) | Variable or floating rate security index is based on LIBOR rate. |
(b) | Unless noted, all repurchase agreements were entered into on June 30, 2005. |
Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.
Maturity dates represent either the stated date on the security or the next interest reset date for floating rate securities.
ADDITIONAL INVESTMENT INFORMATION |
JOINT REPURCHASE AGREEMENT ACCOUNT I— At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account I which equaled $42,900,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
ABN AMRO, Inc. | $ | 1,200,000,000 | 2.90 | % | 07/01/2005 | $ | 1,200,096,667 | |||||||
Banc of America Securities LLC | 400,000,000 | 2.87 | 07/01/2005 | 400,031,889 | ||||||||||
Deutsche Bank Securities, Inc. | 500,000,000 | 2.98 | 07/01/2005 | 500,041,389 | ||||||||||
Greenwich Capital Markets | 200,000,000 | 2.90 | 07/01/2005 | 200,016,111 | ||||||||||
J.P. Morgan Securities, Inc. | 500,000,000 | 2.85 | 07/01/2005 | 500,039,583 | ||||||||||
Merrill Lynch | 400,000,000 | 2.75 | 07/01/2005 | 400,030,556 | ||||||||||
Morgan Stanley & Co. | 1,199,800,000 | 2.90 | 07/01/2005 | 1,199,896,650 | ||||||||||
UBS Securities LLC | 1,100,000,000 | 2.98 | 07/01/2005 | 1,100,091,056 | ||||||||||
TOTAL | $ | 5,499,800,000 | $ | 5,500,243,901 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account I was fully collateralized by U.S. Treasury Bills, 0.00%, due 07/14/2005 to 07/14/2006; U.S. Treasury Bonds, 10.37% to 13.88%, due 05/15/2011 to 02/15/2015; U.S. Treasury Bonds Callable, 0.00% to 14.00%, due 11/15/2010 to 11/15/2014; U.S. Treasury Interest-Only Stripped Securities, 0.00%, due 08/15/2005 to 05/15/2015; U.S. Treasury Notes, 1.50% to 6.88%, due 07/31/2005 to 05/15/2015 and U.S. Treasury Principal-Only Stripped Securities, 0.00% to 11.25%, due 08/15/2005 to 02/15/2015. |
JOINT REPURCHASE AGREEMENT ACCOUNT II— At June 30, 2005, the Fund had an undivided interest in the following Joint Repurchase Agreement Account II which equaled $1,200,000,000 in principal amount.
Principal | Interest | Maturity | Maturity | |||||||||||
Repurchase Agreements | Amount | Rate | Date | Value | ||||||||||
Banc of America Securities LLC | $ | 1,500,000,000 | 3.40 | % | 07/01/2005 | $ | 1,500,141,667 | |||||||
Barclays Capital PLC | 700,000,000 | 3.40 | 07/01/2005 | 700,066,111 | ||||||||||
Deutsche Bank Securities, Inc. | 1,000,000,000 | 3.40 | 07/01/2005 | 1,000,094,444 | ||||||||||
Deutsche Bank Securities, Inc. | 300,000,000 | 3.45 | 07/01/2005 | 300,028,750 | ||||||||||
Greenwich Capital Markets | 400,000,000 | 3.43 | 07/01/2005 | 400,038,111 | ||||||||||
J.P. Morgan Securities, Inc. | 400,000,000 | 3.41 | 07/01/2005 | 400,037,889 | ||||||||||
Morgan Stanley & Co. | 1,000,500,000 | 3.40 | 07/01/2005 | 1,000,594,492 | ||||||||||
UBS Securities LLC | 250,000,000 | 3.40 | 07/01/2005 | 250,023,611 | ||||||||||
Wachovia Capital Markets | 250,000,000 | 3.40 | 07/01/2005 | 250,023,611 | ||||||||||
Westdeutsche Landesbank AG | 500,000,000 | 3.43 | 07/01/2005 | 500,047,639 | ||||||||||
TOTAL | $ | 6,300,500,000 | $ | 6,301,096,325 | ||||||||||
At June 30, 2005, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 2.50% to 6.70%, due 09/13/2005 to 06/15/2007; Federal Home Loan Bank, 4.37% to 5.49%, due 12/22/2008 to 08/15/2011; Federal Home Loan Mortgage Association, 0.00% to 8.00%, due 07/06/2005 to 07/01/2035; Federal National Mortgage Association, 0.00% to 9.50%, due 08/24/2005 to 07/01/2035 and Government National Mortgage Association, 5.50% to 6.50%, due 04/15/2032 to 06/15/2035. |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Agency Obligations—97.0% | ||||||||||||||
Federal Farm Credit Bank | ||||||||||||||
$ | 75,000,000 | 2.50 | % | 07/01/2005 | $ | 75,000,000 | ||||||||
50,000,000 | 2.97 | 07/01/2005 | 50,000,000 | |||||||||||
42,000,000 | 3.00(a) | 07/01/2005 | 41,997,843 | |||||||||||
245,000,000 | 3.01(a) | 07/01/2005 | 244,960,784 | |||||||||||
350,000,000 | 3.02(a) | 07/01/2005 | 349,970,023 | |||||||||||
25,000,000 | 3.03(a) | 07/01/2005 | 24,997,140 | |||||||||||
75,000,000 | 3.04(a) | 07/01/2005 | 74,999,132 | |||||||||||
120,000,000 | 3.05(a) | 07/02/2005 | 119,990,125 | |||||||||||
70,000,000 | 3.07(a) | 07/04/2005 | 69,987,835 | |||||||||||
50,000,000 | 3.09 | 07/06/2005 | 49,978,542 | |||||||||||
50,000,000 | 3.02 | 07/08/2005 | 49,969,861 | |||||||||||
100,000,000 | 3.12(a) | 07/11/2005 | 100,000,000 | |||||||||||
75,000,000 | 3.13 | 07/12/2005 | 74,928,271 | |||||||||||
30,000,000 | 3.13(a) | 07/12/2005 | 29,995,962 | |||||||||||
75,000,000 | 3.13 | 07/14/2005 | 74,915,229 | |||||||||||
35,000,000 | 3.13 | 07/15/2005 | 34,957,397 | |||||||||||
58,000,000 | 3.15 | 07/15/2005 | 57,928,950 | |||||||||||
37,500,000 | 3.14(a) | 07/17/2005 | 37,493,369 | |||||||||||
50,000,000 | 3.17(a) | 07/17/2005 | 49,996,450 | |||||||||||
37,500,000 | 3.16(a) | 07/20/2005 | 37,493,646 | |||||||||||
110,000,000 | 3.20(a) | 07/22/2005 | 109,979,856 | |||||||||||
35,715,000 | 3.19(a) | 07/24/2005 | 35,704,024 | |||||||||||
13,000,000 | 3.26(a) | 07/29/2005 | 12,998,578 | |||||||||||
35,000,000 | 3.22(a) | 07/30/2005 | 34,988,470 | |||||||||||
23,000,000 | 2.99 | 01/11/2006 | 22,928,864 | |||||||||||
Federal Home Loan Bank | ||||||||||||||
330,000,000 | 2.60 | 07/01/2005 | 330,000,000 | |||||||||||
165,400,000 | 2.65 | 07/01/2005 | 165,400,000 | |||||||||||
50,000,000 | 2.85 | 07/01/2005 | 50,000,000 | |||||||||||
25,000,000 | 2.92 | 07/01/2005 | 25,000,000 | |||||||||||
75,000,000 | 2.95 | 07/01/2005 | 75,000,000 | |||||||||||
24,000,000 | 2.96 | 07/01/2005 | 24,000,000 | |||||||||||
40,000,000 | 3.15 | 07/01/2005 | 40,000,000 | |||||||||||
125,000,000 | 3.02(a) | 07/02/2005 | 124,931,865 | |||||||||||
60,000,000 | 3.01(a) | 07/03/2005 | 59,992,245 | |||||||||||
220,000,000 | 3.00(a) | 07/05/2005 | 219,965,781 | |||||||||||
35,800,000 | 3.09 | 07/13/2005 | 35,763,126 | |||||||||||
130,000,000 | 3.17 | 07/15/2005 | 129,839,739 | |||||||||||
115,000,000 | 2.95 | 07/20/2005 | 114,820,951 | |||||||||||
75,000,000 | 3.16(a) | 07/21/2005 | 74,949,097 | |||||||||||
125,000,000 | 3.18 | 07/22/2005 | 124,768,125 | |||||||||||
130,000,000 | 3.19 | 07/22/2005 | 129,758,471 | |||||||||||
185,000,000 | 3.20 | 07/22/2005 | 184,654,667 | |||||||||||
61,600,000 | 3.21 | 07/22/2005 | 61,484,834 | |||||||||||
124,350,000 | 3.21 | 07/27/2005 | 124,061,715 | |||||||||||
200,000,000 | 3.21(b) | 07/29/2005 | 199,500,667 | |||||||||||
200,000,000 | 3.22(b) | 07/29/2005 | 199,502,222 | |||||||||||
285,000,000 | 3.10(a) | 08/02/2005 | 284,877,964 | |||||||||||
30,100,000 | 3.08 | 08/03/2005 | 30,015,018 | |||||||||||
23,429,000 | 2.83 | 08/05/2005 | 23,364,538 | |||||||||||
103,060,000 | 3.08 | 08/10/2005 | 102,707,306 | |||||||||||
205,000,000 | 3.21 | 08/10/2005 | 204,268,833 | |||||||||||
75,000,000 | 3.15(a) | 08/16/2005 | 74,957,448 | |||||||||||
75,000,000 | 2.85 | 08/17/2005 | 74,720,937 | |||||||||||
47,628,000 | 2.89 | 08/17/2005 | 47,448,608 | |||||||||||
275,000,000 | 3.11 | 08/17/2005 | 273,884,403 | |||||||||||
100,000,000 | 3.15 | 08/24/2005 | 99,528,250 | |||||||||||
75,000,000 | 3.14 | 08/26/2005 | 74,633,667 | |||||||||||
225,000,000 | 3.17(a) | 08/26/2005 | 224,979,399 | |||||||||||
70,000,000 | 3.21(a) | 09/01/2005 | 69,958,539 | |||||||||||
150,000,000 | 3.16 | 09/02/2005 | 149,170,500 | |||||||||||
250,000,000 | 3.20 | 09/07/2005 | 248,491,250 | |||||||||||
34,500,000 | 3.26(a) | 09/13/2005 | 34,480,477 | |||||||||||
72,000,000 | 3.27(a) | 09/13/2005 | 71,952,480 | |||||||||||
150,000,000 | 3.12 | 09/14/2005 | 149,025,000 | |||||||||||
75,000,000 | 3.25 | 09/14/2005 | 74,492,969 | |||||||||||
45,000,000 | 3.29(a) | 09/15/2005 | 44,973,500 | |||||||||||
30,000,000 | 3.14 | 09/16/2005 | 29,798,517 | |||||||||||
63,000,000 | 3.14 | 09/21/2005 | 62,550,127 | |||||||||||
107,427,000 | 3.31 | 09/21/2005 | 106,617,060 | |||||||||||
22,215,000 | 3.15 | 09/28/2005 | 22,042,001 | |||||||||||
24,400,000 | 3.35 | 09/28/2005 | 24,197,920 | |||||||||||
75,000,000 | 3.36(a) | 09/28/2005 | 74,972,253 | |||||||||||
75,000,000 | 3.36(a) | 09/29/2005 | 74,942,476 | |||||||||||
20,927,000 | 3.18 | 10/07/2005 | 20,745,842 | |||||||||||
75,000,000 | 3.21 | 10/12/2005 | 74,311,187 | |||||||||||
35,000,000 | 3.22 | 10/12/2005 | 34,677,553 | |||||||||||
10,000,000 | 3.25 | 10/21/2005 | 9,898,889 | |||||||||||
5,360,000 | 1.90 | 10/27/2005 | 5,334,344 | |||||||||||
41,285,000 | 2.38 | 11/04/2005 | 41,237,992 | |||||||||||
50,000,000 | 3.00 | 01/27/2006 | 49,963,643 | |||||||||||
48,000,000 | 2.50 | 02/24/2006 | 47,638,712 | |||||||||||
18,000,000 | 2.20 | 02/27/2006 | 17,827,783 | |||||||||||
70,000,000 | 5.13 | 03/06/2006 | 70,685,523 | |||||||||||
11,775,000 | 2.25 | 03/23/2006 | 11,650,556 | |||||||||||
20,000,000 | 2.17 | 03/27/2006 | 19,772,772 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Agency Obligations (continued) | ||||||||||||||
Federal Home Loan Bank (continued) | ||||||||||||||
$ | 61,200,000 | 5.38 | % | 05/15/2006 | $ | 62,072,338 | ||||||||
Total U.S. Government Agency Obligations | $ | 7,578,422,430 | ||||||||||||
U.S. Treasury Obligations—3.2% | ||||||||||||||
United States Treasury Bills | ||||||||||||||
$ | 200,000,000 | 2.91 | % | 07/21/2005 | $ | 199,676,667 | ||||||||
50,000,000 | 2.90 | 07/21/2005 | 49,919,444 | |||||||||||
Total U.S. Treasury Obligations | $ | 249,596,111 | ||||||||||||
Total Investments—100.2% | $ | 7,828,018,541 | ||||||||||||
(a) | Variable or floating rate security index is based on either LIBOR or Prime lending rate. | |
(b) | All or portion represents a forward commitment. |
Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.
Maturity dates represent either the stated date on the security or the next interest reset date for the floating rate securities.
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Alabama—2.4% | ||||||||||||||
Alabama Housing Finance Authority MF Hsg. VRDN RB Refunding for Rime Village Huntsville Series 1996 B (FNMA) (A-1+) | ||||||||||||||
$ | 11,275,000 | 2.40 | % | 07/06/2005 | $ | 11,275,000 | ||||||||
Birmingham GO VRDN Capital Improvement Series 1998 A (Regions Bank LOC) (A-1/VMIG1) | ||||||||||||||
3,860,000 | 2.30 | 07/07/2005 | 3,860,000 | |||||||||||
Birmingham GO VRDN Capital Improvement Series 2004 A (AMBAC) (Southtrust Bank N.A. SPA) (A-1+/P-1)(a) | ||||||||||||||
17,910,000 | 2.39 | 07/06/2005 | 17,910,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1995 A (A-1/VMIG1) | ||||||||||||||
19,000,000 | 2.30 | 07/01/2005 | 19,000,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1996 A (VMIG1) | ||||||||||||||
11,700,000 | 2.30 | 07/06/2005 | 11,700,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1999 B (A-1/VMIG1) | ||||||||||||||
14,400,000 | 2.30 | 07/06/2005 | 14,400,000 | |||||||||||
Gadsden IDA VRDN PCRB Refunding for Alabama Power Co. Project Series 1994 (A-1/VMIG1) | ||||||||||||||
6,150,000 | 2.31 | 07/01/2005 | 6,150,000 | |||||||||||
Huntsville GO VRDN Warrants Series 2002 G (Regions Bank LOC) (A-1/VMIG1)(a) | ||||||||||||||
9,360,000 | 2.30 | 07/07/2005 | 9,360,000 | |||||||||||
Mobile City IDB VRDN PCRB for Alabama Power Co. Project Series 1993 A (A-1/VMIG1) | ||||||||||||||
5,100,000 | 2.32 | 07/06/2005 | 5,100,000 | |||||||||||
Mobile City IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1994 (A-1/VMIG1) | ||||||||||||||
12,200,000 | 2.30 | 07/01/2005 | 12,200,000 | |||||||||||
Montgomery IDB VRDN PCRB Refunding for General Electric Co. Project Series 2005 (A-1+/VMIG1) | ||||||||||||||
25,000,000 | 2.35 | 07/01/2005 | 25,000,000 | |||||||||||
Parrish IDRB VRDN PCRB for Alabama Power Co. Project Series 1994 (A-1/VMIG1) | ||||||||||||||
6,950,000 | 2.30 | 07/01/2005 | 6,950,000 | |||||||||||
University of Alabama VRDN RB Eagle Series 2004-0032 Class A (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
11,000,000 | 2.32 | 07/07/2005 | 11,000,000 | |||||||||||
University of Alabama VRDN RB ROCS II-R-2131 Series 2004 (MBIA) (Citigroup Global Markets SPA) (A-1+)(a)(b) | ||||||||||||||
5,225,000 | 2.32 | 07/07/2005 | 5,225,000 | |||||||||||
University of Alabama VRDN RB Series 2004 C (MBIA) (Southtrust Bank N.A. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
2,600,000 | 2.35 | 07/06/2005 | 2,600,000 | |||||||||||
University of Alabama VRDN RB Series 2004 C (MBIA) (Southtrust Bank N.A. SPA) (A-1/VMIG1)(a) | ||||||||||||||
12,040,000 | 2.29 | 07/07/2005 | 12,040,000 | |||||||||||
University of Alabama VRDN RB Series 2004 C (MBIA) (Suntrust Bank N.A. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
6,200,000 | 2.35 | 07/06/2005 | 6,200,000 | |||||||||||
West Jefferson IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1998 (A-1/VMIG1) | ||||||||||||||
$ | 10,690,000 | 2.38 | 07/01/2005 | 10,690,000 | ||||||||||
$ | 190,660,000 | |||||||||||||
Alaska—0.4% | ||||||||||||||
Alaska State Housing Finance Corp. VRDN RB for Housing Development Series 2000 B (A-1+/VMIG1) | ||||||||||||||
$ | 33,300,000 | 2.30 | % | 07/06/2005 | $ | 33,300,000 | ||||||||
Arizona—0.5% | ||||||||||||||
Arizona School Facilities Board VRDN COPS ROCS RR-II-R 7001 Series 2005 (FGIC) (Citibank N.A.) (A-1+/VMIG1)(b) | ||||||||||||||
$ | 5,200,000 | 2.32 | % | 07/07/2005 | $ | 5,200,000 | ||||||||
Arizona School Facilities Board VRDN COPS Series 2005 (FGIC) (IXIS Municipal Products SPA) (A-1+)(b) | ||||||||||||||
10,000,000 | 2.31 | 07/06/2005 | 10,000,000 | |||||||||||
Arizona State Transportation Board Highway RB (Aa1/AAA) | ||||||||||||||
10,000,000 | 6.00 | 07/01/2005 | 10,000,000 | |||||||||||
Arizona State Transportation Board Highway VRDN RB ROCS II-R-4003 (Citigroup Global Markets SPA) (VMIG1)(a)(b) | ||||||||||||||
5,160,000 | 2.32 | 07/07/2005 | 5,160,000 | |||||||||||
Arizona State University COPS VRDN P-Floats-PT 2404 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (AAA/A-1)(b) | ||||||||||||||
5,510,000 | 2.31 | 07/06/2005 | 5,510,000 | |||||||||||
Salt River Project VRDN RB for Agricultural Improvement & Power District Electric Systems Series 2005-1076 (Morgan Stanley) (A-1)(b) | ||||||||||||||
4,845,000 | 2.31 | 07/07/2005 | 4,845,000 | |||||||||||
$ | 40,715,000 | |||||||||||||
California—1.9% | ||||||||||||||
California Statewide Communities Development Authority RB Series 2005 A-4 (SP-1+/MIG1)(a) | ||||||||||||||
$ | 46,500,000 | 4.00 | % | 06/30/2006 | $ | 47,123,565 | ||||||||
California Statewide Communities Development Authority VRDN RB for Kaiser Permanente Series 2003 C (HSH Nordbank AG LOC) (F1) | ||||||||||||||
14,360,000 | 2.30 | 07/06/2005 | 14,360,000 | |||||||||||
California Statewide Communities Development Authority VRDN RB for Kaiser Permanente Series 2004 M (A-1) | ||||||||||||||
5,100,000 | 2.26 | 07/06/2005 | 5,100,000 | |||||||||||
Los Angeles County TRANS Series 2005 A (SP-1+/MIG1)(a) | ||||||||||||||
13,500,000 | 4.00 | 06/30/2006 | 13,691,565 | |||||||||||
Los Angeles Department of Water & Power VRDN RB for Power System Subseries 2002 A-8 (Bayerische Landesbank, BNP Paribas, Dexia Credit Local, JP Morgan Chase & Co. and Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
900,000 | 2.27 | 07/07/2005 | 900,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
California (continued) | ||||||||||||||
Los Angeles Unified School District GO VRDN Merlots Series 2003 B34 (FSA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
$ | 4,215,000 | 2.31 | % | 07/06/2005 | $ | 4,215,000 | ||||||||
Sacramento County TRANS Series 2004 A (SP-1+/MIG1) | ||||||||||||||
6,900,000 | 3.00 | 07/11/2005 | 6,902,510 | |||||||||||
Sacramento County TRANS Series 2005 A (SP-1+/MIG1)(a) | ||||||||||||||
62,750,000 | 4.00 | 07/10/2006 | 63,664,895 | |||||||||||
$ | 155,957,535 | |||||||||||||
Colorado—4.6% | ||||||||||||||
Adams & Arapahoe Countys School District No. 28J Aurora GO VRDN ROCS II-R-2015 (FSA) (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
$ | 5,330,000 | 2.32 | % | 07/07/2005 | $ | 5,330,000 | ||||||||
Arapahoe County Multifamily VRDN RB Refunding for Rent Housing-Hunters Run Series 2001 (FHLMC) (A-1+) | ||||||||||||||
7,030,000 | 2.27 | 07/07/2005 | 7,030,000 | |||||||||||
Boulder County Open Space for Capital Improvement Trust Fund VRDN RB ROCS II-340 Series 2005 (FSA) (Citibank N.A. SPA) (A-1+/VMIG1)(b) | ||||||||||||||
5,820,000 | 2.32 | 07/07/2005 | 5,820,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Catholic Health Series 2002 B (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
15,230,000 | 2.32 | 07/06/2005 | 15,230,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Catholic Health Series 2004 B-3 (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
49,400,000 | 2.32 | 07/06/2005 | 49,400,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Catholic Health Series 2004 B-6 (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
54,200,000 | 2.25 | 07/06/2005 | 54,200,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Sisters of Charity Health System Series 2002 (A-1+/VMIG1) | ||||||||||||||
42,400,000 | 2.32 | 07/06/2005 | 42,400,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Sisters of Charity Health System Series 2003-A (A-1+/VMIG1) | ||||||||||||||
20,000,000 | 2.32 | 07/06/2005 | 20,000,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB Refunding for Catholic Health Series 2004 B-1 (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
34,020,000 | 2.25 | 07/06/2005 | 34,020,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB Refunding for Catholic Health Series 2004 B-2 (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
34,455,000 | 2.32 | 07/06/2005 | 34,455,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB Refunding for Catholic Health Series 2004 B-4 (Wells Fargo Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
9,845,000 | 2.25 | 07/06/2005 | 9,845,000 | |||||||||||
Colorado Springs VRDN RB for Colorado College Project Series 2005 (A-1+/VMIG1) | ||||||||||||||
10,145,000 | 2.27 | 07/07/2005 | 10,145,000 | |||||||||||
Colorado State General Fund TRANS Series 2005 (SP-1+/ VMIG1)(a) | ||||||||||||||
20,000,000 | 3.75 | 06/27/2006 | 20,213,800 | |||||||||||
Denver City & County VRDN COPS Refunding for Wellington Series 2003 E Web-C1 (AMBAC) (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
12,000,000 | 2.25 | 07/06/2005 | 12,000,000 | |||||||||||
Denver City & County VRDN COPS Refunding for Wellington Series 2003 E Web-C3 (AMBAC) (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 2.30 | 07/06/2005 | 5,000,000 | |||||||||||
Northern Water Conservancy District COPS VRDN P-Floats-PT 1395 (MBIA) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
5,110,000 | 2.31 | 07/06/2005 | 5,110,000 | |||||||||||
Platte River Power Authority Electric VRDN RB Sub Lien Series 1993 S-1 (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
10,200,000 | 2.28 | 07/06/2005 | 10,200,000 | |||||||||||
Regional Transportation District Sales Tax VRDN RB P-Floats-PT 1413 Series 2002 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
7,235,000 | 2.31 | 07/06/2005 | 7,235,000 | |||||||||||
Regional Transportation District Sales Tax VRDN RB P-Floats-PT 2184 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
17,140,000 | 2.31 | 07/06/2005 | 17,140,000 | |||||||||||
University of Colorado Enterprise Systems VRDN RB P-Floats-PT 2690 Series 2005 (FGIC) (Merrill Lynch Capital Services) (A-1) | ||||||||||||||
7,100,000 | 2.31 | 07/06/2005 | 7,100,000 | |||||||||||
$ | 371,873,800 | |||||||||||||
Connecticut(b)—0.1% | ||||||||||||||
Connecticut State Health & Educational Facilities Authority VRDN RB Eagle Tax Exempt Trust Series 2002-6027 Class A (Citibank N.A.) (A-1+) | ||||||||||||||
$ | 8,500,000 | 2.32 | % | 07/06/2005 | $ | 8,500,000 | ||||||||
Delaware—0.1% | ||||||||||||||
Delaware State GO Series 2003 C (Aaa/AAA) | ||||||||||||||
$ | 9,000,000 | 6.00 | % | 07/01/2005 | $ | 9,000,000 | ||||||||
Florida—3.9% | ||||||||||||||
Broward County GO P-Floats-PT 2138 Series 2004 (Merrill Lynch Capital Services SPA) (A-1)(a)(b) | ||||||||||||||
$ | 14,025,000 | 2.31 | % | 07/06/2005 | $ | 14,025,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Florida (continued) | ||||||||||||||
Broward County Housing Finance Authority VRDN MF Hsg. RB for Landings of Inverrary Apartments Series 1985 (FNMA) (VMIG1) | ||||||||||||||
$ | 9,600,000 | 2.39 | % | 07/07/2005 | $ | 9,600,000 | ||||||||
Broward County Housing Finance Authority VRDN MF Hsg. RB for Sanctuary Apartments Project Series 1985 (FNMA) (VMIG1) | ||||||||||||||
6,000,000 | 2.39 | 07/07/2005 | 6,000,000 | |||||||||||
Broward County Housing Finance Authority VRDN MF Hsg. RB Refunding for Island Club Apartments Series 2001 A (FHLMC) (A-1+) | ||||||||||||||
6,335,000 | 2.28 | 07/07/2005 | 6,335,000 | |||||||||||
Florida Board of Education GO VRDN Eagle Tax-Exempt Trust Series 2001-0901 (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
26,850,000 | 2.32 | 07/07/2005 | 26,850,000 | |||||||||||
Florida Board of Education GO VRDN Eagle Tax-Exempt Trust Series 2005-0031 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
15,000,000 | 2.32 | 07/07/2005 | 15,000,000 | |||||||||||
Florida Board of Education Public Education VRDN P-Floats-PT 1465 Series 2002 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
8,475,000 | 2.31 | 07/06/2005 | 8,475,000 | |||||||||||
Florida Board of Education VRDN RB for Lottery P-Floats-PT 2036 Series 2003 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(a)(b) | ||||||||||||||
8,140,000 | 2.31 | 07/06/2005 | 8,140,000 | |||||||||||
Florida Board of Education VRDN RB Refunding P-Floats-PT 2584 Series 2005 (AMBAC) (Merrill Lynch Capital Services SPA) (AAA/F1+)(b) | ||||||||||||||
11,805,000 | 2.31 | 07/06/2005 | 11,805,000 | |||||||||||
Florida Local Government Pooled CP (Wachovia Bank N.A. LOC) (A-1/P-1) | ||||||||||||||
21,705,000 | 2.55 | 09/12/2005 | 21,705,000 | |||||||||||
Florida State Turnpike Authority VRDN RB P-Floats-PT 1279 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,000,000 | 2.31 | 07/06/2005 | 5,000,000 | |||||||||||
Florida State Turnpike Authority VRDN RB P-Floats-PT 1944 Series 2003 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
14,975,000 | 2.31 | 07/06/2005 | 14,975,000 | |||||||||||
Hillsborough County GO VRDN Merlots Series 2002 A-54 (MBIA) (Wachovia Bank N.A.) (VMIG1)(a)(b) | ||||||||||||||
7,970,000 | 2.32 | 07/06/2005 | 7,970,000 | |||||||||||
Jackson County VRDN PCRB Refunding for Gulf Power Co. Project Series 1997 (A-1/VMIG1) | ||||||||||||||
1,930,000 | 2.33 | 07/01/2005 | 1,930,000 | |||||||||||
Jacksonville Electric Authority CP Series 2000 A (Westdeutsche Landesbank SPA) (A-1+) | ||||||||||||||
23,500,000 | 2.90 | 07/14/2005 | 23,500,000 | |||||||||||
Jacksonville Electric Authority CP Series 2000 S-B (Landesbank Hessen-Thueringen SPA) (A-1+) | ||||||||||||||
32,100,000 | 2.90 | 07/11/2005 | 32,100,000 | |||||||||||
Jacksonville Electric Authority CP Series 2001 C (Dexia Credit Local SPA) (A-1+) | ||||||||||||||
25,000,000 | 2.02 | 07/19/2005 | 25,000,000 | |||||||||||
Jacksonville Electric Authority VRDN RB Subordinated Electric System Series 2001 B (Bank of America N.A. SPA) (A-1+/ VMIG1) | ||||||||||||||
15,100,000 | 2.30 | 07/01/2005 | 15,100,000 | |||||||||||
Lakeland Energy System VRDN RB Refunding Series 2003 (SunTrust Bank SPA) (A-1+/VMIG1) | ||||||||||||||
6,710,000 | 2.31 | 07/06/2005 | 6,710,000 | |||||||||||
Miami Dade County School Board VRDN COPS ROCS II-R-5004 Series 2003 (FGIC) (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
6,285,000 | 2.32 | 07/07/2005 | 6,285,000 | |||||||||||
Orange County Educational Facilities Authority VRDN RB for Rollins College Project Series 2001 (Bank of America N.A. LOC) (VMIG1) | ||||||||||||||
1,750,000 | 2.28 | 07/01/2005 | 1,750,000 | |||||||||||
Orlando Utilities Commission Water & Electric VRDN RB Series 2002 B (SunTrust Bank SPA) (A-1+/VMIG1) | ||||||||||||||
14,600,000 | 2.28 | 07/06/2005 | 14,600,000 | |||||||||||
Palm Beach County School District CP Series 2005 (A-1+/P-1) | ||||||||||||||
17,600,000 | 2.45 | 09/12/2005 | 17,600,000 | |||||||||||
9,500,000 | 2.65 | 09/12/2005 | 9,500,000 | |||||||||||
Sunshine State Government Finance CP Series 2005 H (JP Morgan SPA) (A-1+/P-1) | ||||||||||||||
6,000,000 | 2.88 | 08/12/2005 | 6,000,000 | |||||||||||
$ | 315,955,000 | |||||||||||||
Georgia—1.9% | ||||||||||||||
Albany Dougherty Payroll Development Authority VRDN PCRB for Georgia Power Co. Series 1991 (VMIG1) | ||||||||||||||
$ | 2,120,000 | 2.33 | % | 07/01/2005 | $ | 2,120,000 | ||||||||
Atlanta GO VRDN ROCS II-R-2166 Series 2004 (MBIA) (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
5,690,000 | 2.32 | 07/07/2005 | 5,690,000 | |||||||||||
Cobb County IDA VRDN PCRB for Georgia Power Co. Plant Project Series 1991 (VMIG1) | ||||||||||||||
8,330,000 | 2.28 | 07/01/2005 | 8,330,000 | |||||||||||
Dekalb County Hospital Authority Anticipation Certificates VRDN RB for Dekalb Medical Center, Inc. Project Series 2005 (SunTrust Bank LOC) (VMIG1) | ||||||||||||||
11,000,000 | 2.29 | 07/06/2005 | 11,000,000 | |||||||||||
Dekalb County Water & Sewer Systems VRDN RB Series 2005-1003 (Morgan Stanley SPA) (A-1)(b) | ||||||||||||||
4,999,000 | 2.31 | 07/07/2005 | 4,999,000 | |||||||||||
Dekalb Private Hospital Authority VRDN RB Anticipation Certificates for Children’s Health Care System Project Series 1998 B (Suntrust Bank LOC) (A-1+/VMIG1) | ||||||||||||||
10,215,000 | 2.28 | 07/06/2005 | 10,215,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Georgia (continued) | ||||||||||||||
Downtown Smyrna Development Authority VRDN Spears Series 2005 DB-141 (Deutsche Bank SPA) (A-1+)(a)(b) | ||||||||||||||
$ | 22,720,000 | 2.31 | % | 07/01/2005 | $ | 22,720,000 | ||||||||
Fulco Hospital Authority VRDN RANS for Peidmont Hospital Project Series 1999 (SunTrust Bank LOC) (A-1+/VMIG1) | ||||||||||||||
28,265,000 | 2.28 | 07/06/2005 | 28,265,000 | |||||||||||
Georgia State GO VRDN Eagle Tax-Exempt Trust Series 2004-1004 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
6,000,000 | 2.32 | 07/07/2005 | 6,000,000 | |||||||||||
Georgia State GO VRDN P-Floats-PT 2228 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,105,000 | 2.31 | 07/06/2005 | 5,105,000 | |||||||||||
Metropolitan Atlanta Rapid Transit Authority Georgia Sales Tax VRDN RB Eagle Class Series 2002-6022 (MBIA) (Citibank N.A. SPA) (A- 1+)(b) | ||||||||||||||
14,760,000 | 2.32 | 07/06/2005 | 14,760,000 | |||||||||||
Municipal Electric Authority of Georgia Project One CP Series 1997 B (Bayerische Landesbank, Wachovia Bank N.A. and Westdeutsche Landesbank SPA) (A-1+) | ||||||||||||||
20,361,000 | 2.45 | 07/13/2005 | 20,361,000 | |||||||||||
Putnam County Development Authority VRDN PCRB for Georgia Power Co. Pollution Branch Project Series 1998 (A-1/VMIG1) | ||||||||||||||
8,725,000 | 2.28 | 07/01/2005 | 8,725,000 | |||||||||||
Savannah Economic Development Authority VRDN PCRB Refunding for Savannah Electric & Power Project Series 1993 (A-1/VMIG1) | ||||||||||||||
2,785,000 | 2.28 | 07/01/2005 | 2,785,000 | |||||||||||
$ | 151,075,000 | |||||||||||||
Hawaii—0.5% | ||||||||||||||
Honolulu City & County GO VRDN Spears Series 2005 DB-155 (MBIA) (Deutsche Bank Trust Company SPA) (F1+)(b) | ||||||||||||||
$ | 27,435,000 | 2.31 | % | 07/06/2005 | $ | 27,435,000 | ||||||||
Honolulu Hawaii City & County CP (Westdeutsche Landesbank AG SPA) (A-1/P-1) | ||||||||||||||
10,000,000 | 2.55 | 09/06/2005 | 10,000,000 | |||||||||||
Honolulu Hawaii City & County GO VRDN Eagle Series 2004-1012 Class A (MBIA-IBC) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
6,000,000 | 2.32 | 07/07/2005 | 6,000,000 | |||||||||||
$ | 43,435,000 | |||||||||||||
Illinois—10.3% | ||||||||||||||
Chicago GO Tender Notes Series 2005 (Bank of America N.A. LOC) (SP-1+/VMIG1) | ||||||||||||||
$ | 14,000,000 | 2.30 | % | 07/07/2005 | $ | 14,000,000 | ||||||||
Chicago GO VRDN Eagle Tax-Exempt Trust Series 2001-1301 Class A (FGIC) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
8,910,000 | 2.32 | 07/07/2005 | 8,910,000 | |||||||||||
Chicago GO VRDN Merlots Series 2000 WWW (AMBAC) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
4,000,000 | 2.32 | 07/06/2005 | 4,000,000 | |||||||||||
Chicago GO VRDN Merlots Series 2004 B-24 (FSA) (Wachovia Bank N.A. SPA) (A-1)(a)(b) | ||||||||||||||
4,965,000 | 2.32 | 07/06/2005 | 4,965,000 | |||||||||||
Chicago GO VRDN Series 2002 B (FGIC) (Landesbank-Baden Wurttemberg SPA) (A-1+/VMIG1) | ||||||||||||||
24,500,000 | 2.30 | 07/07/2005 | 24,500,000 | |||||||||||
Chicago GO VRDN Series 2005-1026 (MBIA) (Morgan Stanley SPA) (F1+)(b) | ||||||||||||||
5,000,000 | 2.31 | 07/07/2005 | 5,000,000 | |||||||||||
Chicago GO VRDN Series 2005-1075 (FSA) (Morgan Stanley SPA) (AAA/F1+)(b) | ||||||||||||||
5,495,000 | 2.31 | 07/07/2005 | 5,495,000 | |||||||||||
Chicago VRDN Merlots Series 2003 A43 (AMBAC) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
8,250,000 | 2.32 | 07/06/2005 | 8,250,000 | |||||||||||
Chicago Wastewater Transmission VRDN RB Merlots Series 2001 A 125 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
3,970,000 | 2.32 | 07/06/2005 | 3,970,000 | |||||||||||
Chicago Water VRDN RB Second Lien Series 1999 (Bank One, N.A. LOC) (A-1/VMIG1) | ||||||||||||||
5,815,000 | 2.23 | 07/06/2005 | 5,815,000 | |||||||||||
Cook County GO VRDN Capital Improvement Series 2002 B (Landesbank Hessen-Thueringen LOC) (A-1+/VMIG1) | ||||||||||||||
95,000,000 | 2.29 | 07/06/2005 | 95,000,000 | |||||||||||
Cook County GO VRDN P-Floats PT 2637 Series 2005 (FGIC) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
5,130,000 | 2.31 | 07/06/2005 | 5,130,000 | |||||||||||
Cook County GO VRDN P-Floats-PT 1522 Series 2002 (AMBAC) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
8,795,000 | 2.31 | 07/06/2005 | 8,795,000 | |||||||||||
Cook County Munitops Certificate Trust GO VRDN Non-AMT Series 2004-47 (MBIA) (ABN AMRO Bank N.V. SPA) (VMIG1)(b) | ||||||||||||||
14,360,000 | 2.34 | 07/07/2005 | 14,360,000 | |||||||||||
Cook County VRDN RB for Catholic Theological Union Project Series 2005 (Harris Trust & Savings Bank LOC) (VMIG1) | ||||||||||||||
4,500,000 | 2.31 | 07/06/2005 | 4,500,000 | |||||||||||
Du Page County GO VRDN Community Unified School District No. 200 Wheaton ROCS II-R-2048 (FSA) (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
5,210,000 | 2.32 | 07/07/2005 | 5,210,000 | |||||||||||
Evanston GO VRDN Capital Improvement Project Series 2000 D (Bank of America N.A. SPA) (VMIG1) | ||||||||||||||
4,500,000 | 2.29 | 07/07/2005 | 4,500,000 | |||||||||||
Evanston GO VRDN for Recreation Center Project Series 2000 C (Bank of America N.A. SPA) (VMIG1) | ||||||||||||||
5,400,000 | 2.29 | 07/07/2005 | 5,400,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Illinois (continued) | ||||||||||||||
Evanston GO VRDN Maple Street Project Series 2000 A (Bank of America N.A. SPA) (VMIG1) | ||||||||||||||
$ | 14,500,000 | 2.29 | % | 07/07/2005 | $ | 14,500,000 | ||||||||
Illinois Development Finance Authority VRDN RB for Bradley University Project Series 2002 (FGIC) (National City Bank SPA) (A-1) | ||||||||||||||
15,620,000 | 2.31 | 07/07/2005 | 15,620,000 | |||||||||||
Illinois Finance Authority VRDN RB for Northwestern University Series 2005 B1 (Bank of Nova Scotia SPA) (A-1/VMIG1) | ||||||||||||||
6,510,000 | 2.30 | 07/01/2005 | 6,510,000 | |||||||||||
Illinois Finance Authority VRDN RB for Ressurection Health Series 2005 C (Lasalle Bank N.A. LOC) (A-1/VMIG1) | ||||||||||||||
29,400,000 | 2.21 | 07/06/2005 | 29,400,000 | |||||||||||
Illinois Finance Authority VRDN RB for University of Chicago Series 2004 B (A-1+/VMIG1)(a) | ||||||||||||||
15,000,000 | 2.95 | 07/07/2005 | 15,000,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for Herman M Finch University (JP Morgan Chase & Co. SPA) (A-1/VMIG1) | ||||||||||||||
9,500,000 | 2.28 | 07/06/2005 | 9,500,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for Little Mary Hospital Series 2001 (U.S. Bank N.A. LOC) (A-1+) | ||||||||||||||
24,000,000 | 2.26 | 07/07/2005 | 24,000,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for Riverside Health System Series 2002 B (LaSalle Bank N.A. SPA) (A-1/VMIG1) | ||||||||||||||
10,000,000 | 2.25 | 07/07/2005 | 10,000,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for The Revolving Fund Pooled Finance Program Series 1985 C (Bank One N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
52,800,000 | 2.35 | 07/06/2005 | 52,800,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for The Revolving Fund Pooled Finance Program Series 1985 D (Bank One Illinois N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
40,525,000 | 2.35 | 07/06/2005 | 40,525,000 | |||||||||||
Illinois Health System Evanston Hospital CP Series 2005 S-A (A-1+/VMIG1) | ||||||||||||||
39,200,000 | 2.77 | 10/06/2005 | 39,200,000 | |||||||||||
20,000,000 | 2.60 | 10/20/2005 | 20,000,000 | |||||||||||
Illinois State GO Eagle Tax-Exempt Trust Series 95C-1305 Class A COPS (FGIC) (Citibank N.A. SPA) (A-1)(b) | ||||||||||||||
14,850,000 | 2.32 | 07/01/2005 | 14,850,000 | |||||||||||
Illinois State GO VRDN Eagle Tax-Exempt Trust Series 1996-C-1301 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
5,000,000 | 2.32 | 07/01/2005 | 5,000,000 | |||||||||||
Illinois State GO VRDN Merlots Series 2002 A49 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
4,950,000 | 2.32 | 07/06/2005 | 4,950,000 | |||||||||||
Illinois State GO VRDN Merlots Series 2005-A (FGIC) (Wachovia Bank N.A. SPA) (A-1+/VMIG1)(b) | ||||||||||||||
7,255,000 | 2.32 | 07/06/2005 | 7,255,000 | |||||||||||
Illinois State GO VRDN P-Floats-PT 096 Series 2005 (AMBAC) (BNP Paribas SPA) (F1+)(b) | ||||||||||||||
5,200,000 | 2.31 | 07/07/2005 | 5,200,000 | |||||||||||
Illinois State GO VRDN P-Floats-PT 1882 Series 2003 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,640,000 | 2.31 | 07/06/2005 | 5,640,000 | |||||||||||
Illinois State GO VRDN P-Floats-PT 2131 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
7,730,000 | 2.31 | 07/07/2005 | 7,730,000 | |||||||||||
Illinois State GO VRDN P-Floats-PT Series 2009 (FSA) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
5,345,000 | 2.31 | 07/06/2005 | 5,345,000 | |||||||||||
Illinois State GO VRDN ROCS II-R-1007 Series 2005 (MBIA) (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
11,650,000 | 2.32 | 07/07/2005 | 11,650,000 | |||||||||||
Illinois State GO VRDN ROCS II-R-4536 Series 2003 (MBIA) (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
5,450,000 | 2.32 | 07/07/2005 | 5,450,000 | |||||||||||
Illinois State GO VRDN ROCS RR-II-R 4529 Series 2003 (MBIA) (Citigroup Global Markets SPA) (A-1+)(c) | ||||||||||||||
6,980,000 | 1.70 | 08/04/2005 | 6,980,000 | |||||||||||
Illinois State GO VRDN Series 2003 B (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
61,015,000 | 2.40 | 07/06/2005 | 61,015,000 | |||||||||||
Illinois State GO VRDN Series 2005-1024 (Morgan Stanley SPA) (F1+)(b) | ||||||||||||||
14,000,000 | 2.31 | 07/07/2005 | 14,000,000 | |||||||||||
Illinois State Sales Tax Revenue VRDN Merlots Series 2001 A-102 (Wachovia Bank N.A. SPA) (A-1+)(b) | ||||||||||||||
20,495,000 | 2.32 | 07/06/2005 | 20,495,000 | |||||||||||
Illinois State Toll Highway Authority VRDN RB Putters Series 2005-963 (FSA) (JP Morgan Chase & Co. SPA) (A-1+/VMIG1)(b) | ||||||||||||||
10,800,000 | 2.32 | 07/07/2005 | 10,800,000 | |||||||||||
Illinois State Toll Highway Authority VRDN RB Refunding Series 1998 B (FSA) (JP Morgan Chase & Co.) (Landesbank SPA) (AAA/VMIG1) | ||||||||||||||
13,200,000 | 2.25 | 07/07/2005 | 13,200,000 | |||||||||||
Metropolitan Pier & Exposition Authority for Dedicated State Tax P-Floats-PT 1450 Series 2002 (MBIA) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
7,810,000 | 2.31 | 07/07/2005 | 7,810,000 | |||||||||||
Metropolitan Pier & Exposition Authority for Dedicated State Tax VRDN RB Eagle Tax-Exempt Trust Series 2004-0030 Class A (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
6,500,000 | 2.32 | 07/07/2005 | 6,500,000 | |||||||||||
Metropolitan Pier & Exposition Authority VRDN RB for Dedicated State Tax Floating Rate Receipts Series 2003 (MBIA) (Societe Generale SPA) (A-1+)(b) | ||||||||||||||
17,500,000 | 2.31 | 07/07/2005 | 17,500,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Illinois (continued) | ||||||||||||||
Metropolitan Pier Exposition Authority VRDN RB Eagle Tax-Exempt Trust Series 2000-1307 Class A (FGIC) (Citibank N.A. SPA) (A-1)(b) | ||||||||||||||
$ | 19,205,000 | 2.32 | % | 07/07/2005 | $ | 19,205,000 | ||||||||
Regional Transportation Authority GO VRDN Merlots Series 2001 A48 (FSA) (Wachovia Bank N.A. SPA) (A-1)(b) | ||||||||||||||
4,940,000 | 2.32 | 07/06/2005 | 4,940,000 | |||||||||||
Regional Transportation Authority GO VRDN P-Floats-PT 2394 Series 2004 (FGIC) (Dexia Credit Local SPA) (A-1)(b) | ||||||||||||||
14,960,000 | 2.31 | 07/13/2005 | 14,960,000 | |||||||||||
Regional Transportation Authority VRDN RB Eagle 2005-0003 Series 2005 Class A (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
5,500,000 | 2.32 | 07/07/2005 | 5,500,000 | |||||||||||
Regional Transportation Authority VRDN RB P-Floats-PT 2398 Series 2004 (FSA) (Dexia Credit Local SPA) (F1+)(b) | ||||||||||||||
31,940,000 | 2.31 | 07/07/2005 | 31,940,000 | |||||||||||
University of Illinois VRDN RB P-Floats-PT 2621 Series 2005 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
8,895,000 | 2.31 | 07/07/2005 | 8,895,000 | |||||||||||
Will County GO VRDN P-Floats-PT 2542 Series 2005 (FSA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
6,330,000 | 2.31 | 07/07/2005 | 6,330,000 | |||||||||||
$ | 827,995,000 | |||||||||||||
Indiana—1.5% | ||||||||||||||
Indiana Bond Bank VRDN RB ROCS II-R-1065 Series 2004 (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
$ | 5,330,000 | 2.32 | % | 07/07/2005 | $ | 5,330,000 | ||||||||
Indiana Health Facilities Financing Authority RB Refunding for Ascension Health Credit GP-A-3 Series 2001 (A-1+/VMIG1) | ||||||||||||||
14,000,000 | 2.50 | 02/01/2006 | 14,000,000 | |||||||||||
Indiana Health Facilities Financing Authority VRDN RB for Ascension Health Credit GP-A-2 Series 2001 (A-1+/VMIG1)(a) | ||||||||||||||
9,200,000 | 2.72 | 07/05/2005 | 9,200,000 | |||||||||||
Indiana Highway TFA VRDN RB P-Floats-PT 2262 Series 2004 (FGIC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,160,000 | 2.31 | 07/06/2005 | 5,160,000 | |||||||||||
Indiana TFA Eagle Tax-Exempt Trust VRDN RB Series 2000-1401 (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
19,800,000 | 2.32 | 07/01/2005 | 19,800,000 | |||||||||||
Indiana TFA Eagle Tax-Exempt Trust VRDN RB Series 2000-1401 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
12,915,000 | 2.32 | 07/01/2005 | 12,915,000 | |||||||||||
Indiana TFA Highway VRDN RB Series 2004 942 D (FGIC) (Morgan Stanley SPA) (A-1+)(b) | ||||||||||||||
4,350,000 | 2.31 | 07/07/2005 | 4,350,000 | |||||||||||
Indianapolis Bank Bond Eagle Tax-Exempt Trust Series 2002-1401 Class A (MBIA) (Citibank N.A. SPA) (A-1+/F1+)(b) | ||||||||||||||
18,165,000 | 2.32 | 07/07/2005 | 18,165,000 | |||||||||||
Munitops VRDN RB Non-AMT Trust Certificates (Indiana Bond Bank for Special Program Columbus Learning) Series 2003-21 (MBIA) (ABN AMRO Bank N.V. SPA) (F1+)(b) | ||||||||||||||
7,020,000 | 2.33 | 07/06/2005 | 7,020,000 | |||||||||||
Munitops VRDN RB Non-AMT Trust Certificates (Indiana Transportation Finance Authority) Series 2004-28 (FGIC) (ABN AMRO Bank N.V. SPA) (F1+)(b) | ||||||||||||||
19,560,000 | 2.33 | 07/06/2005 | 19,560,000 | |||||||||||
Noblesville Multi School Building Corp. VRDN RB ROCS RR-II-R-7514 Series 2005 (FGIC) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
5,860,000 | 2.32 | 07/07/2005 | 5,860,000 | |||||||||||
$ | 121,360,000 | |||||||||||||
Iowa—0.3% | ||||||||||||||
Chillicothe City VRDN PCRB Refunding for Midwest Power Systems, Inc. Series 1993 A (A-1/VMIG1) | ||||||||||||||
$ | 2,400,000 | 2.40 | % | 07/06/2005 | $ | 2,400,000 | ||||||||
Iowa Higher Education Loan Authority VRDN RB for Grinnell Private College Facility (A-1+/VMIG1) | ||||||||||||||
12,500,000 | 2.27 | 07/07/2005 | 12,500,000 | |||||||||||
Salix City VRDN PCRB for Midwest Power Systems, Inc. Project Series 1993 (A-1/VMIG1) | ||||||||||||||
9,100,000 | 2.40 | 07/06/2005 | 9,100,000 | |||||||||||
$ | 24,000,000 | |||||||||||||
Kansas—0.4% | ||||||||||||||
Kansas State Department of Highway Transportation VRDN RB Series 2000 C-2 (A-1+/VMIG1) | ||||||||||||||
$ | 10,500,000 | 2.27 | % | 07/06/2005 | $ | 10,500,000 | ||||||||
Munitops VRDN RB Non-AMT Trust Certificates Series 2004-42 (FSA) (ABN AMRO Bank N.V. SPA) (F1+)(b) | ||||||||||||||
20,235,000 | 2.34 | 07/07/2005 | 20,235,000 | |||||||||||
$ | 30,735,000 | |||||||||||||
Kentucky—1.2% | ||||||||||||||
Kentucky Asset/Liability Commission General Fund TRANS Series 2005 A (SP-1+/MIG1)(a) | ||||||||||||||
$ | 22,400,000 | 4.00 | % | 06/28/2006 | $ | 22,687,616 | ||||||||
Kentucky Association of Counties Advanced Revenue Program TRANS COPS Series 2005 (SP-1+)(a) | ||||||||||||||
49,836,000 | 4.00 | 06/30/2006 | 50,441,888 | |||||||||||
Kentucky Economic Development Finance Authority VRDN RB for Catholic Health Services Series 2004 C (A-1+/VMIG1)(a) | ||||||||||||||
23,500,000 | 2.32 | 07/06/2005 | 23,500,000 | |||||||||||
Louisville & Jefferson County COPS Eagle Tax-Exempt Trust Series 2001-1701 Class A (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
2,500,000 | 2.32 | 07/06/2005 | 2,500,000 | |||||||||||
$ | 99,129,504 | |||||||||||||
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Louisiana—1.3% | ||||||||||||||
Louisiana Offshore Terminal Authority Deepwater Port VRDN RB Refunding for First Stage A Loop LLC Series 1992 (SunTrust Bank LOC) (A-1+/VMIG1) | ||||||||||||||
$ | 15,550,000 | 2.29 | % | 07/06/2005 | $ | 15,550,000 | ||||||||
New Orleans Aviation Board VRDN RB Refunding Series 1993 B (MBIA) (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
42,835,000 | 2.35 | 07/06/2005 | 42,835,000 | |||||||||||
New Orleans Aviation Board VRDN RB Refunding Series 1995 A (MBIA) (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
8,970,000 | 2.35 | 07/06/2005 | 8,970,000 | |||||||||||
Saint James Parish VRDN PCRB Refunding for Occidental Petroleum Series 1996 (Bayerische Landesbank LOC) (P-1) | ||||||||||||||
19,500,000 | 2.25 | 07/06/2005 | 19,500,000 | |||||||||||
South Louisiana Commission Port VRDN RB Refunding for Occidental Petroleum Corp. Series 1996 (Bank of New York LOC) (P-1) | ||||||||||||||
16,600,000 | 2.25 | 07/06/2005 | 16,600,000 | |||||||||||
$ | 103,455,000 | |||||||||||||
Maryland—0.5% | ||||||||||||||
Anne Arundel County CP Series 2005 (Westdeutsche Landesbank SPA) (A-1+/P-1) | ||||||||||||||
$ | 8,000,000 | 2.40 | % | 08/08/2005 | $ | 8,000,000 | ||||||||
John Hopkins University Health System CP Series 2005 (A-1/P-1) | ||||||||||||||
5,000,000 | 2.80 | 07/06/2005 | 5,000,000 | |||||||||||
John Hopkins University Health System CP Series B (A-1/P-1) | ||||||||||||||
11,000,000 | 2.00 | 07/20/2005 | 11,000,000 | |||||||||||
Maryland State Department of Transportation VRDN RB P-Floats-PT 1259 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
11,100,000 | 2.31 | 07/13/2005 | 11,100,000 | |||||||||||
University of Maryland System Auxiliary Facility & Tuition VRDN P-Floats-PT 428 Series 2000 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
4,930,000 | 2.31 | 07/01/2005 | 4,930,000 | |||||||||||
$ | 40,030,000 | |||||||||||||
Massachusetts—6.1% | ||||||||||||||
Hull GO BANS Series 2004 (SP-1+) | ||||||||||||||
$ | 1,500,000 | 3.00 | % | 07/14/2005 | $ | 1,500,709 | ||||||||
Massachusetts Bay Transportation Authority GO VRDN General Transportation System (Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
18,400,000 | 2.22 | 07/06/2005 | 18,400,000 | |||||||||||
Massachusetts Bay Transportation Authority Sales Tax Revenue VRDN RB Certificates Series 2005-12 (CDC IXIS SPA) (A-1+/VMIG1)(b) | ||||||||||||||
6,910,000 | 2.31 | 07/07/2005 | 6,910,000 | |||||||||||
Massachusetts Bay Transportation Authority Sales Tax Revenue VRDN RB for Putters Series 2005-966 (PNC Bank N.A.) (A-1+/VMIG1)(b) | ||||||||||||||
10,800,000 | 2.31 | 07/07/2005 | 10,800,000 | |||||||||||
Massachusetts Bay Transportation Authority VRDN TRANS Merlot Series 2004 B (Wachovia Bank N.A. SPA) (AAA/A-1)(a)(b) | ||||||||||||||
8,445,000 | 2.31 | 07/06/2005 | 8,445,000 | |||||||||||
Massachusetts Development Finance Agency VRDN RB Refunding for Phillips Academy (Bank of New York SPA) (A-1+/VMIG1) | ||||||||||||||
32,910,000 | 2.27 | 07/07/2005 | 32,910,000 | |||||||||||
Massachusetts Health & Educational Facilities Harvard University CP Series EE (A-1+/P-1) | ||||||||||||||
16,000,000 | 2.05 | 07/21/2005 | 16,000,000 | |||||||||||
12,000,000 | 2.80 | 09/08/2005 | 12,000,000 | |||||||||||
7,000,000 | 2.57 | 10/21/2005 | 7,000,000 | |||||||||||
Massachusetts Housing Finance Agency VRDN RB Series 2003 F (FSA) (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
44,000,000 | 2.22 | 07/06/2005 | 44,000,000 | |||||||||||
Massachusetts Housing Finance Agency VRDN RB Series 2003 G (HSBC Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
39,070,000 | 2.22 | 07/06/2005 | 39,070,000 | |||||||||||
Massachusetts State GO Prerefunded Construction Loan Series 2004 C (AA/Aa2) | ||||||||||||||
595,000 | 5.00 | 08/01/2005 | 596,515 | |||||||||||
Massachusetts State GO Refunding Series 2003 (AA-/VMIG1) | ||||||||||||||
13,675,000 | 5.00 | 07/07/2005 | 13,798,323 | |||||||||||
Massachusetts State GO Unrefunded Balance on Construction Loan Series 2004 C (AA-/Aa2) | ||||||||||||||
17,405,000 | 5.00 | 08/01/2005 | 17,449,313 | |||||||||||
Massachusetts State GO VRDN Eagle Series 2004-0006 (AMBAC) (Citibank N.A. SPA) (A-1+/VMIG1)(b) | ||||||||||||||
12,000,000 | 2.31 | 07/07/2005 | 12,000,000 | |||||||||||
Massachusetts State GO VRDN Merlots Series 2002 A63 (FGIC and FSA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
12,730,000 | 2.31 | 07/06/2005 | 12,730,000 | |||||||||||
Massachusetts State GO VRDN Merlots Series 2004 B12 (AMBAC) (Wachovia Bank N.A. SPA) (A-1)(b) | ||||||||||||||
14,925,000 | 2.31 | 07/06/2005 | 14,925,000 | |||||||||||
Massachusetts State GO VRDN Merlots Series 2004 C42 (AMBAC) (Wachovia Bank N.A. SPA) (Aaa/VMIG1)(b) | ||||||||||||||
9,995,000 | 2.31 | 07/06/2005 | 9,995,000 | |||||||||||
Massachusetts State GO VRDN Merlots Series 2004 C44 (MBIA-IBC) (Wachovia Bank N.A. SPA) (Aaa/VMIG1)(b) | ||||||||||||||
9,390,000 | 2.31 | 07/06/2005 | 9,390,000 | |||||||||||
Massachusetts State GO VRDN P-Floats-PT 392 Series 2000 (Merrill Lynch Capital Services SPA) (A-1/VMIG1)(c) | ||||||||||||||
9,320,000 | 2.70 | 07/07/2005 | 9,320,000 | |||||||||||
Massachusetts State GO VRDN Putters Series 2004-449 (AMBAC) (JP Morgan Chase & Co.) (A-1+/VMIG1)(b) | ||||||||||||||
5,100,000 | 2.30 | 07/07/2005 | 5,100,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Massachusetts (continued) | ||||||||||||||
Massachusetts State GO VRDN Series 1998 A (Wesdeutshce Llandesbank AG SPA) (A-1+/VMIG1)(a) | ||||||||||||||
$ | 27,000,000 | 2.22 | % | 07/07/2005 | $ | 27,000,000 | ||||||||
Massachusetts State GO VRDN Series 1998 A (Westdeutshce Landesbank AG SPA) (A-1+/VMIG1)(a) | ||||||||||||||
10,800,000 | 2.22 | 07/07/2005 | 10,800,000 | |||||||||||
Massachusetts State GO VRDN Series 1998 B (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
66,710,000 | 2.22 | 07/07/2005 | 66,710,000 | |||||||||||
Massachusetts State GO VRDN Stars Certificates Series 2003-26 (BNP Paribas) (A-1+/VMIG1)(b) | ||||||||||||||
10,925,000 | 2.30 | 07/07/2005 | 10,925,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Partners Healthcare System Series 2005 F4 (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
36,800,000 | 2.28 | 07/07/2005 | 36,800,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB Merlots Series 2004 A14 (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
6,920,000 | 2.31 | 07/06/2005 | 6,920,000 | |||||||||||
Massachusetts State Health and Educational Facilities Authority VRDN RB for Partners Healthcare System Series 2005 D (A-1+/VMIG1)(a) | ||||||||||||||
9,930,000 | 2.28 | 07/07/2005 | 9,930,000 | |||||||||||
Massachusetts State Special Obligation Dedicated Tax VRDN RB Merlots Series 2004 B19 (FGIC) (Wachovia Bank N.A. SPA) (A-1)(b) | ||||||||||||||
9,935,000 | 2.31 | 07/06/2005 | 9,935,000 | |||||||||||
Massachusetts Water Resources Authority CP Series S-94 (Bayersiche Landesbank LOC) (A-1+/P-1) | ||||||||||||||
7,000,000 | 2.15 | 07/22/2005 | 7,000,000 | |||||||||||
$ | 488,359,860 | |||||||||||||
Michigan—3.3% | ||||||||||||||
Detroit Water Supply System VRDN RB Merlots Series 2003 B24 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
$ | 4,500,000 | 2.32 | % | 07/06/2005 | $ | 4,500,000 | ||||||||
Detroit Water Supply System VRDN RB Refunding Senior Lien Series 2003 D (MBIA) (JP Morgan Chase & Co. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
18,180,000 | 2.35 | 07/06/2005 | 18,180,000 | |||||||||||
Detroit Water Supply System VRDN RB Refunding Senior Lien Series 2004 B (MBIA) (Dexia Credit Local SPA) (A-1+/ VMIG1) | ||||||||||||||
15,000,000 | 2.30 | 07/07/2005 | 15,000,000 | |||||||||||
Grosse Pointe Public School Systems GO VRDN Series 1085 (Morgan Stanley SPA) (VMIG1)(b) | ||||||||||||||
5,450,000 | 2.31 | 07/07/2005 | 5,450,000 | |||||||||||
Jonesville Community Schools GO ROCS RR-II-R-7512 Series 2005 (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
5,825,000 | 2.32 | 07/07/2005 | 5,825,000 | |||||||||||
Michigan Municipal Bond Authority RANS Series 2004 B-1 (SP-1+) | ||||||||||||||
18,260,000 | 3.00 | 08/19/2005 | 18,294,978 | |||||||||||
Michigan Municipal Bond Authority VRDN P-Floats-PT 396 Series 2000 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
8,750,000 | 2.31 | 07/01/2005 | 8,750,000 | |||||||||||
Michigan State Building Authority VRDN RB Eagle Tax-Exempt Trust Series 2001-2204 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
16,000,000 | 2.32 | 07/07/2005 | 16,000,000 | |||||||||||
Michigan State Building Authority VRDN RB P-Floats-PT 2807 Series 2005 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
6,920,000 | 2.31 | 07/06/2005 | 6,920,000 | |||||||||||
Michigan State Building Authority VRDN RB P-Floats-PT 398 Series 2000 (BNP Paribas SPA) (A-1+)(b) | ||||||||||||||
6,605,000 | 2.31 | 07/05/2005 | 6,605,000 | |||||||||||
Michigan State Building Authority VRDN RB ROCS RR-II-R-2111 Series 2004 (MBIA-IBC) (Citigroup Global Markets) (A-1+)(b) | ||||||||||||||
5,190,000 | 2.32 | 07/07/2005 | 5,190,000 | |||||||||||
Michigan State CP Series 2004-A (JP Morgan Chase & Co. LOC) (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
11,500,000 | 2.67 | 10/04/2005 | 11,500,000 | |||||||||||
55,000,000 | 2.20 | 10/05/2005 | 55,000,000 | |||||||||||
Michigan State GO Series 2004-A (JP Morgan Chase & Co. LOC) (Depfa Bank PLC SPA) (SP-1+/MIG1) | ||||||||||||||
35,000,000 | 3.50 | 09/30/2005 | 35,128,727 | |||||||||||
Michigan State Hospital Finance Authority VRDN RB Merlots Series 1999 K (MBIA) (Wachovia Bank SPA) (VMIG1)(b) | ||||||||||||||
5,000,000 | 2.32 | 07/06/2005 | 5,000,000 | |||||||||||
Michigan State Trunk Line Fund Series 1998 A Eagle Tax-Exempt Trust Series 1998-2202 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
30,165,000 | 2.32 | 07/01/2005 | 30,165,000 | |||||||||||
Michigan State University VRDN RB Series 2005 (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
13,000,000 | 2.22 | 07/06/2005 | 13,000,000 | |||||||||||
University of Michigan Hospital VRDN RB Series 2005 B (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 2.21 | 07/07/2005 | 5,000,000 | |||||||||||
$ | 265,508,705 | |||||||||||||
Minnesota—1.2% | ||||||||||||||
Elk River Independent School District #728 GO VRDN ROCS RR-II-R 183 (FSA) (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
$ | 9,175,000 | 2.32 | % | 07/07/2005 | $ | 9,175,000 | ||||||||
Minnesota State GO VRDN Eagle Tax-Exempt Trust Series 2001-2301 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
3,300,000 | 2.32 | 07/07/2005 | 3,300,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Minnesota (continued) | ||||||||||||||
Minnesota State Higher Education Facilities VRDN RB for Carleton College Series 2005 D (Wells Fargo Bank N.A. SPA) (VMIG1)(a) | ||||||||||||||
$ | 10,845,000 | 2.38 | % | 07/07/2005 | $ | 10,845,000 | ||||||||
Minnesota State P-Floats-PT 1941 Series 2003 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
15,840,000 | 2.31 | 07/01/2005 | 15,840,000 | |||||||||||
Rochester Mayo Medical Center CP Series 2000 B (U.S. Bank National SPA) (SP-1+) (A-1+/VMIG1) | ||||||||||||||
16,000,000 | 2.50 | 08/22/2005 | 16,000,000 | |||||||||||
University of Minnesota VRDN RB Series 1999 A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
34,270,000 | 2.43 | 07/06/2005 | 34,270,000 | |||||||||||
University of Minnesota VRDN RB Series 2001 C (A-1+/ VMIG1) | ||||||||||||||
10,000,000 | 2.43 | 07/06/2005 | 10,000,000 | |||||||||||
$ | 99,430,000 | |||||||||||||
Mississippi—1.4% | ||||||||||||||
Mississippi Development Bank Special Obligation VRDN RB for Municipal Gas Authority Natural Gas Project Series 2005 (Societe Generale SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 39,000,000 | 2.29 | % | 07/07/2005 | $ | 39,000,000 | ||||||||
Mississippi State GO VRDN Eagle Tax-Exempt Trust Series 2001-2402 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
11,000,000 | 2.32 | 07/06/2005 | 11,000,000 | |||||||||||
Mississippi State GO VRDN for Capital Improvements Series 2003 E (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
36,135,000 | 2.35 | 07/06/2005 | 36,135,000 | |||||||||||
Mississippi State GO VRDN Merlots Series 2003 B08 (FSA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
15,620,000 | 2.32 | 07/06/2005 | 15,620,000 | |||||||||||
Mississippi State GO VRDN Series 2005-1150 (Morgan Stanley LOC) (F1+)(b) | ||||||||||||||
8,000,000 | 2.31 | 07/07/2005 | 8,000,000 | |||||||||||
$ | 109,755,000 | |||||||||||||
Missouri—1.2% | ||||||||||||||
Kansas City IDA VRDN RB for Kansas City Downtown Arena Project Series 2005 C (AMBAC) (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 6,300,000 | 2.31 | % | 07/06/2005 | $ | 6,300,000 | ||||||||
Kansas City IDA VRDN RB for Kansas City Downtown Redevelopment Series 2005 A (AMBAC) (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
39,000,000 | 2.31 | 07/06/2005 | 39,000,000 | |||||||||||
Missouri Board Public Buildings VRDN RB P-Floats-PT 1843 Series 2003 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
6,920,000 | 2.31 | 07/06/2005 | 6,920,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Medical Research Facilities-Stowers Institute (MBIA) (BNP Paribas SPA) (A-1+/VMIG1) | ||||||||||||||
16,400,000 | 2.30 | 07/07/2005 | 16,400,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Washington University Project Series 1984 (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
9,450,000 | 2.32 | 07/06/2005 | 9,450,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Washington University Series 2000 B (JP Morgan Chase and Co. SPA) (A-1+/VMIG1) | ||||||||||||||
12,700,000 | 2.30 | 07/01/2005 | 12,700,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Washington University Series 2004 A (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
7,300,000 | 2.30 | 07/01/2005 | 7,300,000 | |||||||||||
$ | 98,070,000 | |||||||||||||
Montana—0.3% | ||||||||||||||
Montana Facilities Finance Authority VRDN RB Refunding for Sisters Charity Health System Series 2003 (A-1+/VMIG1) | ||||||||||||||
$ | 26,210,000 | 2.32 | % | 07/06/2005 | $ | 26,210,000 | ||||||||
Nebraska(b)—0.3% | ||||||||||||||
Douglas County School District GO VRDN P-Floats-PT 2060 No. 1 Series 2003 (Merrill Lynch Capital Services SPA) (A-1) | ||||||||||||||
$ | 6,665,000 | 2.31 | % | 07/06/2005 | $ | 6,665,000 | ||||||||
Omaha GO VRDN Eagle Tax-Exempt Trust Series 2004-011 Class A (Citibank N.A. SPA) (A-1+) | ||||||||||||||
5,995,000 | 2.32 | 07/07/2005 | 5,995,000 | |||||||||||
Omaha GO VRDN Stars Certificates Series 2004-98 (BNP Paribas SPA) (VMIG1) | ||||||||||||||
10,115,000 | 2.31 | 07/06/2005 | 10,115,000 | |||||||||||
$ | 22,775,000 | |||||||||||||
Nevada—1.9% | ||||||||||||||
Clark County Airport VRDN RB Sub Lien Series 2001 C (FGIC) (Landesbank Baden-Wurtt SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 6,700,000 | 2.26 | % | 07/06/2005 | $ | 6,700,000 | ||||||||
Clark County CP Series 2003 (BNP Paribas and Bayerische Landesbank SPA) (A-1+/P-1) | ||||||||||||||
12,700,000 | 2.40 | 07/29/2005 | 12,700,000 | |||||||||||
12,000,000 | 2.55 | 10/06/2005 | 12,000,000 | |||||||||||
Clark County CP Series 2003 (BNP Paribas and Bayersiche Landesbank SPA) (A-1+/P-1) | ||||||||||||||
4,300,000 | 2.70 | 10/06/2005 | 4,300,000 | |||||||||||
Clark County GO VRDN RB Eagle Tax-Exempt Trust Series 2000-2801 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
1,000,000 | 2.32 | 07/06/2005 | 1,000,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Nevada (continued) | ||||||||||||||
Clark County School District GO VRDN P-Floats-PT 2406 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
$ | 5,915,000 | 2.31 | % | 07/06/2005 | $ | 5,915,000 | ||||||||
Clark County School District GO VRDN P-Floats-PT 2557 Series 2005 (FGIC) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
10,320,000 | 2.31 | 07/06/2005 | 10,320,000 | |||||||||||
Clark County VRDN RB Eagle Tax-Exempt Trust Series 1996 Class A (FGIC) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
8,345,000 | 2.32 | 07/06/2005 | 8,345,000 | |||||||||||
Henderson GO VRDN Putters Series 2005 920 (FGIC) (JP Morgan Chase & Co.) (VMIG1)(b) | ||||||||||||||
4,900,000 | 2.32 | 07/07/2005 | 4,900,000 | |||||||||||
Las Vegas Valley Water District CP (BNP Paribas and Lloyds TSB Bank PLC SPA) (A-1+/P-1) | ||||||||||||||
15,000,000 | 2.50 | 07/08/2005 | 15,000,000 | |||||||||||
11,000,000 | 2.80 | 07/08/2005 | 11,000,000 | |||||||||||
Las Vegas Valley Water District CP (BNP Paribas and Lloyds TSB Bank PLC SPA) (A-1+/P-1) | ||||||||||||||
19,500,000 | 2.35 | 07/12/2005 | 19,500,000 | |||||||||||
7,500,000 | 2.47 | 07/12/2005 | 7,500,000 | |||||||||||
5,000,000 | 2.10 | 07/20/2005 | 5,000,000 | |||||||||||
10,000,000 | 2.10 | 07/26/2005 | 10,000,000 | |||||||||||
Las Vegas Valley Water District GO VRDN P-Floats-PT 1672 Series 2003 (FGIC) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
11,060,000 | 2.31 | 07/06/2005 | 11,060,000 | |||||||||||
University of Nevada VRDN RB ROCS II-R-5001 Series 2003 (FGIC) (Citigroup Global Markets SPA) (A-1+/VMIG1)(a)(b) | ||||||||||||||
5,775,000 | 2.32 | 07/07/2005 | 5,775,000 | |||||||||||
$ | 151,015,000 | |||||||||||||
New Hampshire—0.6% | ||||||||||||||
Manchester School Facilities VRDN RB P-Floats-PT 1939 Series 2003 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
$ | 5,410,000 | 2.31 | % | 07/06/2005 | $ | 5,410,000 | ||||||||
New Hampshire Health & Education Facilities Authority RB VRDN for Dartmouth College (A-1+/VMIG1) | ||||||||||||||
25,155,000 | 2.35 | 07/06/2005 | 25,155,000 | |||||||||||
New Hampshire Health & Educational Facilities Authority VRDN RB for Phillips Exeter Academy Series 2003 (Northern Trust Company SPA) (A-1+/VMIG1) | ||||||||||||||
19,000,000 | 2.27 | 07/07/2005 | 19,000,000 | |||||||||||
$ | 49,565,000 | |||||||||||||
New Jersey(b)—1.5% | ||||||||||||||
New Jersey Economic Development Authority VRDN RB Merlots Series 2004 B-14 (AMBAC) (Wachovia Bank N.A. SPA) (A-1) | ||||||||||||||
$ | 14,635,000 | 2.31 | % | 07/06/2005 | $ | 14,635,000 | ||||||||
New Jersey State Economic Development Authority VRDN RB Merlots Series 2003 A 41 (FGiC) (Wachovia Bank N.A. SPA) (VMIG1) | ||||||||||||||
12,825,000 | 2.31 | 07/06/2005 | 12,825,000 | |||||||||||
New Jersey State Transportation Trust Fund Authority VRDN RB Eagle Tax-Exempt Trust Series 2005-0001 Class 2005 A (MBIA / FGIC) (Citibank N.A. SPA) (A-1+) | ||||||||||||||
16,000,000 | 2.32 | 07/07/2005 | 16,000,000 | |||||||||||
New Jersey State Transportation Trust Fund Authority VRDN RB P-Floats-PT 2433 Series 2004 (FGIC) (Merrill Lynch Capital Services SPA) (F1+) | ||||||||||||||
26,205,000 | 2.31 | 07/06/2005 | 26,205,000 | |||||||||||
New Jersey State Transportation Trust Fund Authority VRDN RB P-Floats-PT 2491 Series 2005 (FGIC) (Merrill Lynch Capital Services SPA) (A-1+/F1+) | ||||||||||||||
18,550,000 | 2.31 | 07/06/2005 | 18,550,000 | |||||||||||
New Jersey State Transportation Trust Fund Authority VRDN RB P-Floats-PT 2617 Series 2005 (MBIA) (Dexia Credit Local SPA) (A-1+) | ||||||||||||||
24,950,000 | 2.31 | 07/06/2005 | 24,950,000 | |||||||||||
New Jersey Transportation Trust Fund Authority VRDN RB Stars Certificates Series 2005-116 (MBIA) (BNP Paribas SPA) (VMIG1) | ||||||||||||||
7,880,000 | 2.31 | 07/06/2005 | 7,880,000 | |||||||||||
$ | 121,045,000 | |||||||||||||
New Mexico—0.8% | ||||||||||||||
Albuquerque VRDN RB Refunding for Affordable Housing Projects Series 2000 (MBIA) (Bank of America N.A. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
$ | 8,475,000 | 2.30 | % | 07/06/2005 | $ | 8,475,000 | ||||||||
Farmington VRDN PCRB Refunding for Arizona Public Service Co. Series 1994 A (Barclays Bank PLC LOC) (A-1+/P-1) | ||||||||||||||
11,700,000 | 2.33 | 07/01/2005 | 11,700,000 | |||||||||||
New Mexico State Severance Tax TANS Refunding Series 2001 A (AA/Aa2) | ||||||||||||||
5,000,000 | 5.00 | 07/01/2005 | 5,000,000 | |||||||||||
New Mexico State Severance Tax VRDN P-Floats-PT 1428 Series 2002 (Merrill Lynch Capital Services SPA) (A-1+)(a)(b) | ||||||||||||||
11,415,000 | 2.31 | 07/01/2005 | 11,415,000 | |||||||||||
New Mexico State University VRDN RB P-Floats-PT 2342 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
5,210,000 | 2.31 | 07/06/2005 | 5,210,000 | |||||||||||
University of New Mexico VRDN RB Refunding for Sub Lien Systems Improvements Series 2001 (Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
20,110,000 | 2.32 | 07/06/2005 | 20,110,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
New Mexico (continued) | ||||||||||||||
University of New Mexico VRDN RB Refunding for Sub Lien Systems Improvements Series 2003 B (Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 2,800,000 | 2.35 | % | 07/06/2005 | $ | 2,800,000 | ||||||||
$ | 64,710,000 | |||||||||||||
New York—4.8% | ||||||||||||||
ABN AMRO Munitops Certificates VRDN RB Non-AMT Series 2004-46 (FSA) (ABN AMRO Bank N.V. SPA) (VMIG1)(b) | ||||||||||||||
$ | 29,745,000 | 2.32 | % | 07/07/2005 | $ | 29,745,000 | ||||||||
Jay Street Development Corporation Certificates Facilities Lease VRDN RB Series 2001-A1 (JP Morgan Chase Bank LOC) (A-1+/VMIG1) | ||||||||||||||
8,050,000 | 2.20 | 07/06/2005 | 8,050,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Eagle Tax-Exempt Trust Series 2002 A2303 (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
9,155,000 | 2.31 | 07/07/2005 | 9,155,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Eagle Tax-Exempt Trust Series 2002 A2305 (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
6,470,000 | 2.31 | 07/07/2005 | 6,470,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Eagle Tax-Exempt Trust Series 2004-0041 Class A (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
15,005,000 | 2.31 | 07/07/2005 | 15,005,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Merlots Series 2003 B25 (FGIC) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
11,135,000 | 2.31 | 07/06/2005 | 11,135,000 | |||||||||||
New York City GO VRDN Adjusted Subseries 2003 A-2 (Bank of America N.A. LOC) (A-1/VMIG1) | ||||||||||||||
5,700,000 | 2.18 | 07/06/2005 | 5,700,000 | |||||||||||
New York City GO VRDN ROCS RR-II-R 251A Series 2003 (Citigroup Global Markets LOC) (Citibank N.A. SPA) (VMIG1)(b) | ||||||||||||||
18,000,000 | 2.35 | 07/07/2005 | 18,000,000 | |||||||||||
New York City Housing Development Corp. VRDN MF Hsg. RB Mortgage for 90 West Street Series 2004 A (HSBC Bank USA LOC) (A-1+) | ||||||||||||||
6,800,000 | 2.26 | 07/06/2005 | 6,800,000 | |||||||||||
New York City Municipal Water Finance Authority CP Series 2005 (Westdeutsche Landesbank and Bayerische Landesbank SPA) (A-1+/P-1) | ||||||||||||||
11,000,000 | 2.17 | 07/07/2005 | 11,000,000 | |||||||||||
New York City Municipal Water Finance Authority Water and Sewer System VRDN RB for Municipal Securities Trust Receipts SGB 27 Series 1997 (FSA) (Societe Generale LOC) (A-1+)(b) | ||||||||||||||
6,500,000 | 2.31 | 07/07/2005 | 6,500,000 | |||||||||||
New York City Municipal Water Finance Authority Water and Sewer System VRDN RB P-Floats-PT 2443 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
7,280,000 | 2.31 | 07/07/2005 | 7,280,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB for Future Tax Secured Series 1998 A-2 (Bank of Nova Scotia SPA) (A-1+/VMIG1) | ||||||||||||||
5,220,000 | 2.23 | 07/06/2005 | 5,220,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB for New York Recovery Series 2002 1B (Societe Generale LOC) (A-1+/VMIG1) | ||||||||||||||
8,550,000 | 2.35 | 07/06/2005 | 8,550,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Merlots Series 2003 B29 (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
12,640,000 | 2.31 | 07/06/2005 | 12,640,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Series 2002 2C (Lloyds TSB Bank PLC LOC) (A-1+/VMIG1) | ||||||||||||||
7,700,000 | 2.35 | 07/06/2005 | 7,700,000 | |||||||||||
New York State Dormitory Authority VRDN RB Merlots Series 2005 A06 (FSA) (Wachovia Bank SPA) (VMIG1)(a)(b) | ||||||||||||||
5,330,000 | 2.31 | 07/06/2005 | 5,330,000 | |||||||||||
New York State Energy Research & Development Authority VRDN RB for Con Edison Series 2005 A-1 (Wachovia Bank N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
6,600,000 | 2.24 | 07/06/2005 | 6,600,000 | |||||||||||
New York State Environmental Facilities Corp. VRDN RB Clean Water & Drinking Series 2005-1121 (Morgan Stanley LOC) (A-1+)(a) | ||||||||||||||
12,790,000 | 2.29 | 07/07/2005 | 12,790,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for 10 Liberty Street Series 2003 A (FHLMC) (VMIG1) | ||||||||||||||
55,800,000 | 2.20 | 07/06/2005 | 55,800,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for 100 Maiden Lane Housing Authority Series 2004 A (Bank of New York LOC) (VMIG1) | ||||||||||||||
20,500,000 | 2.29 | 07/06/2005 | 20,500,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for 20 River Terrace Housing Series 2002 A RMKT (FNMA) (VMIG1) | ||||||||||||||
33,950,000 | 2.31 | 07/06/2005 | 33,950,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for Historic Front Street Housing Series 2003 A (Bank of New York LOC) (VMIG1) | ||||||||||||||
20,780,000 | 2.27 | 07/06/2005 | 20,780,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for Liberty View Apartments Housing Series 1997 A (FNMA) (A-1+) | ||||||||||||||
17,800,000 | 2.20 | 07/06/2005 | 17,800,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for Tribeca Green Housing Series 2003 A (Landesbank Hessen-Thueringen LOC) (VMIG1) | ||||||||||||||
8,400,000 | 2.18 | 07/06/2005 | 8,400,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
New York (continued) | ||||||||||||||
New York State Urban Development Corp. VRDN RB Series 2003 SG-164 (FGIC) (Societe Generale SPA) (A-1+)(b) | ||||||||||||||
$ | 12,900,000 | 2.31 | % | 07/06/2005 | $ | 12,900,000 | ||||||||
Triborough Bridge & Tunnel Authority VRDN RB Merlots Series 2004 A-08 (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
11,555,000 | 2.31 | 07/06/2005 | 11,555,000 | |||||||||||
Triborough Bridge & Tunnel Authority VRDN RB Series B (AMBAC) (State Street Bank SPA) (A-1+/VMIG1) | ||||||||||||||
7,900,000 | 2.23 | 07/06/2005 | 7,900,000 | |||||||||||
$ | 383,255,000 | |||||||||||||
North Carolina—5.0% | ||||||||||||||
Buncombe County Metropolitan Sewer District Sewer System VRDN RB Refunding (XLCA) (Bank of America N.A. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
$ | 5,890,000 | 2.32 | % | 07/07/2005 | $ | 5,890,000 | ||||||||
Cabarrus County VRDN COPS ROCS II-R-4520 Series 2003 (AMBAC) (Citigroup Global Markets SPA) (A-1+)(a)(b) | ||||||||||||||
5,320,000 | 2.32 | 07/07/2005 | 5,320,000 | |||||||||||
Charlotte Water & Sewer CP Series 2004 (Wachovia Bank N.A. SPA) (A-1/P-1) | ||||||||||||||
14,100,000 | 2.10 | 09/09/2005 | 14,100,000 | |||||||||||
6,500,000 | 2.20 | 08/18/2005 | 6,500,000 | |||||||||||
11,700,000 | 2.20 | 10/14/2005 | 11,700,000 | |||||||||||
7,300,000 | 2.90 | 02/14/2006 | 7,300,000 | |||||||||||
Greensboro Enterprise System VRDN RB Series 2005 B (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
14,320,000 | 2.30 | 07/06/2005 | 14,320,000 | |||||||||||
Guilford County GO VRDN Series 2005 B (Wachovia Bank N.A. SPA) (A-1/VMIG1) | ||||||||||||||
27,000,000 | 2.30 | 07/07/2005 | 27,000,000 | |||||||||||
Mecklenburg County GO VRDN Series 2004 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
9,075,000 | 2.27 | 07/07/2005 | 9,075,000 | |||||||||||
North Carolina Capital Facilities VRDN RB Eagle Tax-Exempt Trust Series 2005-0060 Class A (Citibank N.A.) (A-1+)(b) | ||||||||||||||
15,600,000 | 2.32 | 07/07/2005 | 15,600,000 | |||||||||||
North Carolina Medical Care Community Health Care Facilities VRDN RB for Duke University Health System Series 2005 C (SunTrust Bank SPA) (A-1+/VMIG1) | ||||||||||||||
16,000,000 | 2.26 | 07/06/2005 | 16,000,000 | |||||||||||
North Carolina Medical Care Community Health Care Facilities VRDN RB for Novant Health Group Series 2004 A (JP Morgan Chase Bank SPA) (A-1+/VMIG1) | ||||||||||||||
22,500,000 | 2.28 | 07/06/2005 | 22,500,000 | |||||||||||
North Carolina State GO VRDN Eagle Tax-Exempt Trust 2005-0021 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
30,000,000 | 2.32 | 07/07/2005 | 30,000,000 | |||||||||||
North Carolina State GO VRDN for Public Improvement Series 2002 D (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 3,000,000 | 2.30 | % | 07/06/2005 | $ | 3,000,000 | ||||||||
North Carolina State GO VRDN P-Floats-PT 1246 Series 2004 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
7,500,000 | 2.31 | 07/07/2005 | 7,500,000 | |||||||||||
North Carolina State GO VRDN P-Floats-PT 1962 Series 2003 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,970,000 | 2.31 | 07/06/2005 | 5,970,000 | |||||||||||
North Carolina State GO VRDN P-Floats-PT 2115 Series 2004 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
5,420,000 | 2.31 | 07/06/2005 | 5,420,000 | |||||||||||
North Carolina State GO VRDN P-Floats-PT 2206 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
15,645,000 | 2.31 | 07/06/2005 | 15,645,000 | |||||||||||
North Carolina State GO VRDN P-Floats-PT 2207 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
8,555,000 | 2.31 | 07/06/2005 | 8,555,000 | |||||||||||
North Carolina State GO VRDN Series 2005-1 Class A (IXIS Municipal Products SPA) (A-1+)(b) | ||||||||||||||
9,975,000 | 2.31 | 07/06/2005 | 9,975,000 | |||||||||||
North Carolina State University at Raleigh VRDN RB P-Floats-PT 2527 Series 2005 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,105,000 | 2.31 | 07/06/2005 | 5,105,000 | |||||||||||
Raleigh VRDN COPS for Downtown Improvement Project Series 2004 A (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
18,800,000 | 2.27 | 07/06/2005 | 18,800,000 | |||||||||||
Raleigh VRDN COPS for Downtown Improvement Project Series 2005 B (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
13,100,000 | 2.27 | 07/06/2005 | 13,100,000 | |||||||||||
Union County GO VRDN Series 2005 A (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
23,100,000 | 2.26 | 07/07/2005 | 23,100,000 | |||||||||||
University of North Carolina for Chapel Hill Hospital VRDN RB Refunding Series 2003 A (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
49,980,000 | 2.30 | 07/07/2005 | 49,980,000 | |||||||||||
University of North Carolina for Chapel Hill Hospital VRDN RB Series 2001 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
8,700,000 | 2.28 | 07/01/2005 | 8,700,000 | |||||||||||
Wake County GO VRDN Certificates Series 20059 Class A (IXIS Municipal Products SPA) (A-1+)(b) | ||||||||||||||
5,000,000 | 2.32 | 07/07/2005 | 5,000,000 | |||||||||||
Wake County GO VRDN for Public Improvements Series 2003 B (Lloyds TSB Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
7,500,000 | 4.00 | 04/01/2006 | 7,571,858 | |||||||||||
Wake County GO VRDN Series 2004 A (Landesbank Hessen-Thueringen Gironzen SPA) (A-1+/VMIG1) | ||||||||||||||
10,000,000 | 4.00 | 04/01/2006 | 10,095,810 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
North Carolina (continued) | ||||||||||||||
Wake County GO VRDN Series 2004 B (Landesbank Hessen-Thueringen Gironzen SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 17,000,000 | 4.00 | % | 04/01/2006 | $ | 17,162,878 | ||||||||
Wilmington GO VRDN Refunding Series 2002 (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
5,165,000 | 2.28 | 07/06/2005 | 5,165,000 | |||||||||||
$ | 405,150,546 | |||||||||||||
Ohio—1.1% | ||||||||||||||
Cincinnati City School District GO VRDN Eagle Tax-Exempt Trust Series 2004-0034 Class A (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
$ | 6,000,000 | 2.31 | % | 07/07/2005 | $ | 6,000,000 | ||||||||
Columbus GO VRDN for Public Improvements Series 2005-2 Class A (IXIS Municipal Products SPA) (A-1+)(b) | ||||||||||||||
5,155,000 | 2.31 | 07/07/2005 | 5,155,000 | |||||||||||
Franklin County VRDN RB for Trinity Health Credit Series 2000 F (JP Morgan Chase & Co. and Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
49,550,000 | 2.28 | 07/06/2005 | 49,550,000 | |||||||||||
Franklin County VRDN RB for Trinity Health Credit Series 2004 C-2 (FGIC) (JP Morgan Chase & Co. and U.S. Bank National SPA) (A-1+/VMIG1) | ||||||||||||||
5,100,000 | 2.24 | 07/06/2005 | 5,100,000 | |||||||||||
Ohio State GO VRDN P-Floats-PT 2137 Series 2004 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
11,175,000 | 2.31 | 07/06/2005 | 11,175,000 | |||||||||||
Ohio State GO VRDN P-Floats-PT 2684 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
6,625,000 | 2.31 | 07/07/2005 | 6,625,000 | |||||||||||
Ohio State GO VRDN Series 2002-603 (FSA) (Morgan Stanley) (A-1+)(b) | ||||||||||||||
5,000,000 | 2.30 | 07/07/2005 | 5,000,000 | |||||||||||
$ | 88,605,000 | |||||||||||||
Oklahoma—0.7% | ||||||||||||||
Oklahoma State GO VRDN P-Floats-PT 1879 Series 2003 (FGIC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
$ | 9,860,000 | 2.31 | % | 07/07/2005 | $ | 9,860,000 | ||||||||
Payne County Economic Development Authority Student Housing VRDN RB for Osuf Phase III Project Series 2002 (AMBAC) (Dexia Credit Local SPA) (VMIG1)(a) | ||||||||||||||
47,760,000 | 2.31 | 07/07/2005 | 47,760,000 | |||||||||||
$ | 57,620,000 | |||||||||||||
Oregon—1.2% | ||||||||||||||
Clackamas County Hospital Facility Authority VRDN RB for Legacy Health Systems Series 2003 (A-1+/VMIG1) | ||||||||||||||
$ | 5,000,000 | 2.28 | % | 07/06/2005 | $ | 5,000,000 | ||||||||
Oregon State GO VRDN Series 1985 73-G (JP Morgan Chase & Co. SPA) (A-1+) | ||||||||||||||
53,900,000 | 2.30 | 07/06/2005 | 53,900,000 | |||||||||||
Oregon State GO VRDN Veteran’s Welfare Series 1985 73-H (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
29,100,000 | 2.30 | 07/06/2005 | 29,100,000 | |||||||||||
Portland Sewer System VRDN RB for Putters Series 2005-955 (FSA) (PNC Bank National SPA.) (VMIG1)(b) | ||||||||||||||
5,890,000 | 2.32 | 07/07/2005 | 5,890,000 | |||||||||||
$ | 93,890,000 | |||||||||||||
Pennsylvania—3.8% | ||||||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN Eagle Tax Exempt Trust Series 2004-0026 Class A (AMBAC) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
$ | 3,490,000 | 2.31 | % | 07/07/2005 | $ | 3,490,000 | ||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Series 1985 B (National Australia Bank LOC) (A-1+/VMIG1) | ||||||||||||||
9,900,000 | 2.28 | 07/06/2005 | 9,900,000 | |||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Series 1985 D (National Australia Bank LOC) (A-1+/VMIG1) | ||||||||||||||
15,350,000 | 2.28 | 07/06/2005 | 15,350,000 | |||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Series 1986 (National Australia Bank LOC) (A-1/VMIG1) | ||||||||||||||
35,000,000 | 2.28 | 07/06/2005 | 35,000,000 | |||||||||||
Lancaster County Hospital Authority VRDN RB for Health Center Masonic Homes Project Series 1999 (AMBAC) (PNC Bank SPA) (A-1/VMIG1)(a) | ||||||||||||||
3,325,000 | 2.29 | 07/06/2005 | 3,325,000 | |||||||||||
Lancaster County Hospital Authority VRDN RB for Health Center Masonic Homes Project Series 2005 (AMBAC) (Wachovia Bank N.A. SPA) (A-1/VMIG1) | ||||||||||||||
11,525,000 | 2.29 | 07/06/2005 | 11,525,000 | |||||||||||
Lancaster County Hospital Authority VRDN RB for Health Center Masonic Homes Series 2001 (AMBAC) (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
27,965,000 | 2.29 | 07/06/2005 | 27,965,000 | |||||||||||
Pennsylvania Economic Development Finance Authority Health System VRDN RB for Jefferson Health System Series 2005 B (A-1+/VMIG1) | ||||||||||||||
7,725,000 | 2.28 | 07/06/2005 | 7,725,000 | |||||||||||
Pennsylvania Intergovernmental Cooperative Authority VRDN Special Tax Revenue Refunding for Philadelphia Funding Series 2003 (AMBAC) (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
56,920,000 | 2.33 | 07/07/2005 | 56,920,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Pennsylvania (continued) | ||||||||||||||
Pennsylvania State GO VRDN Putters Series 2005-939 (JP Morgan Chase & Co.) (VMIG1)(b) | ||||||||||||||
$ | 8,300,000 | 2.32 | % | 07/07/2005 | $ | 8,300,000 | ||||||||
Pennsylvania State Higher Educational Facilities Authority VRDN RB Putters Series 2005-947 (JP Morgan Chase & Co.) (A-1+)(b) | ||||||||||||||
7,220,000 | 2.32 | 07/07/2005 | 7,220,000 | |||||||||||
Pennsylvania Turnpike Commission VRDN RB Series 2002 A-1 (Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
28,850,000 | 2.32 | 07/06/2005 | 28,850,000 | |||||||||||
Pennsylvania Turnpike Commission VRDN RB Series 2002 A-3 (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
42,885,000 | 2.32 | 07/06/2005 | 42,885,000 | |||||||||||
Pennsylvania Turnpike Commission VRDN RB Series 2002 B (Dexia Credit Local SPA) (A-1+/VMIG1) | ||||||||||||||
25,715,000 | 2.28 | 07/07/2005 | 25,715,000 | |||||||||||
Philadelphia Hospitals & Higher Education Facilities Authority VRDN RB for Childrens Hospital Series 2005 A (Fleet National Bank SPA) (A-1+/VMIG1) | ||||||||||||||
10,200,000 | 2.30 | 07/01/2005 | 10,200,000 | |||||||||||
St. Mary’s Hospital Authority VRDN RB for Catholic Health Series 2004 C (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 2.25 | 07/06/2005 | 5,000,000 | |||||||||||
St. Mary’s Hospital Authority VRDN RB for Catholic Health Series 2004 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
4,600,000 | 2.23 | 07/06/2005 | 4,600,000 | |||||||||||
University of Pittsburgh VRDN RB for University Capital Project Series 2005 C (National Australia Bank SPA) (A-1+/VMIG1) | ||||||||||||||
4,700,000 | 2.20 | 07/06/2005 | 4,700,000 | |||||||||||
$ | 308,670,000 | |||||||||||||
Rhode Island(b)—0.1% | ||||||||||||||
Rhode Island Clean Water Protection Finance Agency VRDN PCRB P-Floats-PT 1403 Series 2002 (Merrill Lynch Capital Services SPA) (A-1+) | ||||||||||||||
$ | 5,150,000 | 2.31 | % | 07/06/2005 | $ | 5,150,000 | ||||||||
South Carolina—1.5% | ||||||||||||||
Charleston Waterworks & Sewer VRDN RB Refunding for Capital Improvement Series 2003 A (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 9,000,000 | 2.32 | % | 07/07/2005 | $ | 9,000,000 | ||||||||
South Carolina GO VRDN ROCS RR-II-R 337 Series 2005 (Citibank N.A. SPA) (VMIG1)(b) | ||||||||||||||
5,000,000 | 2.32 | 07/07/2005 | 5,000,000 | |||||||||||
South Carolina Public Service Authority CP (BNP Paribas and Dexia Credit Local LOC) (A-1+) | ||||||||||||||
21,000,000 | 2.40 | 07/29/2005 | 21,000,000 | |||||||||||
South Carolina Public Service Authority VRDN RB Eagle Tax-Exempt Trust Series 2004-0017 Class A (AMBAC) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
10,000,000 | 2.32 | 07/07/2005 | 10,000,000 | |||||||||||
South Carolina Public Service Authority VRDN RB Merlots Series 2004 B06 (AMBAC) (Wachovia Bank N.A. SPA) (A-1)(a)(b) | ||||||||||||||
9,867,500 | 2.32 | 07/06/2005 | 9,867,500 | |||||||||||
South Carolina Public Service Authority VRDN RB P-Floats-PT 1877 Series 2003 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(a)(b) | ||||||||||||||
5,935,000 | 2.31 | 07/06/2005 | 5,935,000 | |||||||||||
South Carolina Public Service Authority VRDN RB ROCS RR-II-R 6007 (AMBAC) (Citibank N.A. SPA) (A-1+)(a)(b) | ||||||||||||||
4,555,000 | 2.32 | 07/07/2005 | 4,555,000 | |||||||||||
South Carolina Public Service Authority CP (BNP Paribas and Dexia Credit Local LOC) (A-1+) | ||||||||||||||
15,000,000 | 2.10 | 07/07/2005 | 15,000,000 | |||||||||||
South Carolina State VRDN P-Floats-PT 1225 Series 2000 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
13,610,000 | 2.30 | 07/01/2005 | 13,610,000 | |||||||||||
South Carolina Transportation Infrastructure Bank VRDN RB P-Floats-PT 2304 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
12,810,000 | 2.31 | 07/01/2005 | 12,810,000 | |||||||||||
South Carolina VRDN RB Transportation Infrastructure Bank Eagle Tax-Exempt Trust Series 2001-4001 Class A (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
7,000,000 | 2.32 | 07/01/2005 | 7,000,000 | |||||||||||
University of South Carolina VRDN RB P-Floats-PT 2309 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,735,000 | 2.31 | 07/01/2005 | 5,735,000 | |||||||||||
$ | 119,512,500 | |||||||||||||
Tennessee—2.5% | ||||||||||||||
Chattanooga Health Educational & Housing Facilities Board VRDN RB Refunding for Catholic Health Series 2004 C (A-1+/VMIG1) | ||||||||||||||
$ | 22,400,000 | 2.25 | % | 07/06/2005 | $ | 22,400,000 | ||||||||
Memphis Electric System VRDN RB Series 2005-1031 (MBIA) (Morgan Stanley SPA) (VMIG1)(b) | ||||||||||||||
5,600,000 | 2.31 | 07/07/2005 | 5,600,000 | |||||||||||
Memphis GO CP Series 2001 (MBIA) (Westdeutsche Landesbank SPA) (A-1+/P-1) | ||||||||||||||
4,500,000 | 2.30 | 08/12/2005 | 4,500,000 | |||||||||||
Memphis GO CP Series 2005 (Westdeutche Landesbank SPA) (A-1+/P-1) | ||||||||||||||
18,500,000 | 2.55 | 11/09/2005 | 18,500,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Tennessee (continued) | ||||||||||||||
Memphis GO VRDN Certificates Series 2005-7 Class A (MBIA) (IXIS Municipals Products) (A-1+)(b) | ||||||||||||||
$ | 5,755,000 | 2.31 | % | 07/06/2005 | $ | 5,755,000 | ||||||||
Memphis GO VRDN Series 2005-1018 (MBIA) (Morgan Stanley SPA) (F1+/A-1+)(b) | ||||||||||||||
5,639,000 | 2.31 | 07/07/2005 | 5,639,000 | |||||||||||
Metropolitan Government Nashville & Davidson County Health & Education Facilities Board VRDN RB for Ascension Health Credit Series 2001 B-2 (A-1+/VMIG1) | ||||||||||||||
6,500,000 | 2.30 | 01/04/2006 | 6,500,000 | |||||||||||
Metropolitan Government Nashville & Davidson County Health & Education Facilities Board VRDN RB Refunding for Vanderbilt University Series 2000 B (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
36,500,000 | 2.28 | 07/07/2005 | 36,500,000 | |||||||||||
Metropolitan Government Nashville & Davidson County Health & Education Facilities Board VRDN RB Refunding for Vanderbilt University Series 2003 A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1)(a) | ||||||||||||||
28,225,000 | 2.28 | 07/07/2005 | 28,225,000 | |||||||||||
Metropolitan Government of Nashville County CP Series 2005 (A-1+) | ||||||||||||||
5,000,000 | 2.25 | 08/15/2005 | 5,000,000 | |||||||||||
5,500,000 | 2.27 | 08/24/2005 | 5,500,000 | |||||||||||
8,000,000 | 2.80 | 09/30/2005 | 8,000,000 | |||||||||||
10,000,000 | 2.60 | 11/14/2005 | 10,000,000 | |||||||||||
Sevier County Public Building Authority VRDN RB for Local Government Public Improvement Series 1999 III-F (AMBAC) (Landesbank Hessen-Thueringen) (VMIG1) | ||||||||||||||
23,665,000 | 2.30 | 07/07/2005 | 23,665,000 | |||||||||||
Shelby County COPS Eagle Tax-Exempt Trust Series 2001-4202 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
17,000,000 | 2.32 | 04/01/2016 | 17,000,000 | |||||||||||
$ | 202,784,000 | |||||||||||||
Texas—17.8% | ||||||||||||||
Alamo Heights Independant School District GO VRDN for Putters Series 2005-980 (PSF-GTD) (JP Morgan Chase & Co. SPA) (P-1/VMIG1)(b) | ||||||||||||||
$ | 9,090,000 | 2.31 | % | 07/07/2005 | $ | 9,090,000 | ||||||||
City of Garland CP (Landesbank Hessen-Thueringen SPA) (A-1+/F1+) | ||||||||||||||
10,000,000 | 2.30 | 08/08/2005 | 10,000,000 | |||||||||||
8,000,000 | 2.50 | 09/07/2005 | 8,000,000 | |||||||||||
City of Houston CP (Dexia Credit Local and Landesbank Hessen-Thueringen LOC) (A-1+/P-1) | ||||||||||||||
20,900,000 | 2.35 | 07/12/2005 | 20,900,000 | |||||||||||
City of Houston CP Series 2005 D (Dexia Bank PLC SPA) (A-1+/P-1) | ||||||||||||||
7,000,000 | �� | 2.35 | 07/12/2005 | 7,000,000 | ||||||||||
24,000,000 | 2.40 | 07/29/2005 | 24,000,000 | |||||||||||
12,000,000 | 2.50 | 09/09/2005 | 12,000,000 | |||||||||||
14,400,000 | 2.57 | 10/21/2005 | 14,400,000 | |||||||||||
City of Houston CP Series E (Bank of America N.A. SPA) (A-1+/P-1) | ||||||||||||||
12,000,000 | 2.57 | 10/24/2005 | 12,000,000 | |||||||||||
Cypress Fairbanks Independent School District GO VRDN P-Floats-PT 2283 Series 2004 (PSF-GTD) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
9,820,000 | 2.31 | 07/07/2005 | 9,820,000 | |||||||||||
Cypress Fairbanks Independent School District GO VRDN P-Floats-PT 2511 Series 2005 (PSF-GTD) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,160,000 | 2.31 | 07/06/2005 | 5,160,000 | |||||||||||
Cypress Fairbanks Independent School District VRDN RMerlots Series 2001 A129 (PSF-GTD) (Wachovia Bank N.A. SPA) (A-1)(a)(c) | ||||||||||||||
11,940,000 | 1.12 | 07/07/2005 | 11,940,000 | |||||||||||
Dallas Area Rapid Transit CP (Bayerische Landesbank, Landesbank Baden-Wurttemberg, State Street Corp. and Westdeutsche Landesbank SPA) (A-1+/P-1) | ||||||||||||||
9,500,000 | 2.50 | 09/08/2005 | 9,500,000 | |||||||||||
Dallas Area Rapid Transit VRDN RB P-Floats-PT 1503 Series 2002 (FGIC) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
5,415,000 | 2.31 | 07/06/2005 | 5,415,000 | |||||||||||
Dallas County Community College District GO VRDN P-Floats-PT 2370 Series 2004 (Merrill Lynch Capital Services SPA ) (F1+)(b) | ||||||||||||||
8,570,000 | 2.31 | 07/06/2005 | 8,570,000 | |||||||||||
Dallas County GO VRDN P-Floats-PT 2764 Series 2005 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
9,380,000 | 2.31 | 07/06/2005 | 9,380,000 | |||||||||||
Dallas GO VRDN P-Floats-PT 2447 Series 2004 (Merrill Lynch Capital Services SPA) (A-1/VMIG1)(b) | ||||||||||||||
8,920,000 | 2.31 | 07/06/2005 | 8,920,000 | |||||||||||
Dallas GO VRDN P-Floats-PT 2745 Series 2005 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
8,225,000 | 2.31 | 07/06/2005 | 8,225,000 | |||||||||||
Dallas Independent School District GO VRDN ROCS RR-II-R 6038 Series 2004 (PSF-GTD) (Citibank N.A. SPA) (VMIG1)(b) | ||||||||||||||
6,170,000 | 2.32 | 07/07/2005 | 6,170,000 | |||||||||||
Dallas Independent School District P-Floats-PT 1909 Series 2003 (PSF-GTD) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,625,000 | 2.31 | 07/07/2005 | 5,625,000 | |||||||||||
El Paso Water & Sewer VRDN RB ROCS II-R-2163 Series 2005 (MBIA) (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
6,220,000 | 2.32 | 07/07/2005 | 6,220,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Texas (continued) | ||||||||||||||
Fort Bend Independent School District GO VRDN ROCS II-R-2141 Series 2004 (PSF-GTD) (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
$ | 8,410,000 | 2.32 | % | 07/07/2005 | $ | 8,410,000 | ||||||||
Harlingen Independent School District VRDN Spears Series 2005 DB-143 (PSF-GTD) (Deutsche Bank Trust Co.) (A-1+)(b) | ||||||||||||||
5,615,000 | 2.31 | 07/07/2005 | 5,615,000 | |||||||||||
Harris County GO TANS Series 2005 (SP-1+/MIG1) | ||||||||||||||
63,000,000 | 3.75 | 02/28/2006 | 63,429,813 | |||||||||||
Harris County Health Facilities Development Corp. VRDN RB Refunding for The Methodist Health System Series 2005 B (A-1+) | ||||||||||||||
124,500,000 | 2.30 | 07/01/2005 | 124,500,000 | |||||||||||
Harris County Municipal Securities Trust Receipts Series 2004 SGB-52-A (FGIC) (Societe Generale SPA) (A-1+)(b) | ||||||||||||||
11,960,000 | 2.32 | 07/07/2005 | 11,960,000 | |||||||||||
Harris County Toll Road CP Series 2005 E01 (Dexia Credit Local SPA) (A-1/P-1) | ||||||||||||||
10,635,000 | 2.55 | 09/07/2005 | 10,635,000 | |||||||||||
Houston Airport System CP Series 2005 (Dexia Credit Local LOC) (A-1+/P-1) | ||||||||||||||
16,000,000 | 2.55 | 10/06/2005 | 16,000,000 | |||||||||||
Houston Community College GO VRDN ROCS II-R-2084 Series 2004 (AMBAC) (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
2,760,000 | 2.32 | 07/07/2005 | 2,760,000 | |||||||||||
Houston GO VRDN P-Floats-PT 2233 Series 2004 (MBIA) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
15,995,000 | 2.31 | 07/06/2005 | 15,995,000 | |||||||||||
Houston GO VRDN ROCS II-R-1048 (Citigroup Global Markets SPA) (VMIG1)(b) | ||||||||||||||
10,260,000 | 2.32 | 07/07/2005 | 10,260,000 | |||||||||||
Houston GO VRDN ROCS II-R-4062 Series 2004 (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
5,320,000 | 2.32 | 07/07/2005 | 5,320,000 | |||||||||||
Houston Independent School District GO VRDN P-Floats-PT 2824 Series 2005 (FSA) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
16,610,000 | 2.31 | 07/06/2005 | 16,610,000 | |||||||||||
Houston Independent School District GO VRDN Refunding for School Building Series 2003 (PSF-GTD) (A-1+/VMIG1) | ||||||||||||||
65,000,000 | 2.35 | 07/07/2005 | 65,000,000 | |||||||||||
Houston Utilities System VRDN RB Merlots Series 2004 C-13 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
7,685,000 | 2.32 | 07/06/2005 | 7,685,000 | |||||||||||
Houston Utilities System VRDN RB Merlots Series 2004 C-17 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
5,995,000 | 2.32 | 07/06/2005 | 5,995,000 | |||||||||||
Houston Utilities System VRDN RB Merlots Series 2004 C-37 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
9,175,000 | 2.32 | 07/06/2005 | 9,175,000 | |||||||||||
Houston Utilities System VRDN RB P-Floats-PT 2471 Series 2004 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
18,430,000 | 2.31 | 07/06/2005 | 18,430,000 | |||||||||||
Houston Water & Sewer CP Series A (Bayerische Landesbank, Dexia Credit Local and Westdentsche Landesbank SPA) (A-1/P-1) | ||||||||||||||
31,500,000 | 2.93 | 07/13/2005 | 31,500,000 | |||||||||||
8,000,000 | 2.85 | 07/14/2005 | 8,000,000 | |||||||||||
10,000,000 | 2.45 | 08/24/2005 | 10,000,000 | |||||||||||
7,500,000 | 2.60 | 10/13/2005 | 7,500,000 | |||||||||||
Keller Independent School District GO VRDN P-Floats-PT 2280 Series 2004 (PSF-GTD) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
6,380,000 | 2.31 | 07/06/2005 | 6,380,000 | |||||||||||
Lower Colorado River Authority VRDN RB P-Floats-PT 2270 Series 2004 (AMBAC and FSA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
16,315,000 | 2.31 | 07/06/2005 | 16,315,000 | |||||||||||
Mansfield Independent School District GO VRDN P-Floats-PT 2401 Series 2004 (PSF-GTD) (Merrill Lynch Capital Services SPA) (AAA/F1+)(b) | ||||||||||||||
5,210,000 | 2.31 | 07/06/2005 | 5,210,000 | |||||||||||
Mansfield Independent School District GO VRDN ROCS RR-II-R 2172 Series 2005 (PSF-GTD) (Citigroup Global Markets) (VMIG1)(b) | ||||||||||||||
5,650,000 | 2.32 | 07/07/2005 | 5,650,000 | |||||||||||
North Texas Tollway Authority VRDN RB Dallas North Tollway Systems Series 2003 SG-167 (AMBAC) (Societe Generale SPA) (A-1+)(b) | ||||||||||||||
8,975,000 | 2.31 | 07/06/2005 | 8,975,000 | |||||||||||
Northside Independent School District GO VRDN Series 1099 (PSF-GTD) (Morgan Stanley) (F1+)(b) | ||||||||||||||
4,017,500 | 2.31 | 07/07/2005 | 4,017,500 | |||||||||||
Pflugerville Independent School District GO VRDN Series 2005-1058 (PSF-GTD) (Morgan Stanley) (VMIG1)(b) | ||||||||||||||
4,000,000 | 2.31 | 07/07/2005 | 4,000,000 | |||||||||||
Pflugerville Independent School District GO VRDN P-Floats-PT 2829 Series 2005 (PSF-GTD) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
6,460,000 | 2.31 | 07/06/2005 | 6,460,000 | |||||||||||
San Antonio Electric & Gas Systems CP Series A (Bank of America and State Street Corp. SPA) (A-1+/P-1) | ||||||||||||||
30,900,000 | 2.82 | 08/11/2005 | 30,900,000 | |||||||||||
22,800,000 | 2.80 | 08/12/2005 | 22,800,000 | |||||||||||
21,400,000 | 2.50 | 08/22/2005 | 21,400,000 | |||||||||||
San Antonio Electric & Gas Systems VRDN RB Series 1997 SG 104 (Societe Generale SPA) (A-1+)(b) | ||||||||||||||
19,170,000 | 2.31 | 07/06/2005 | 19,170,000 | |||||||||||
San Antonio Electric & Gas VRDN RB Certificates Series 2005-112 (BNP Paribas LOC) (VMIG1)(b) | ||||||||||||||
7,000,000 | 2.31 | 07/06/2005 | 7,000,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Texas (continued) | ||||||||||||||
San Antonio GO VRDN P-Floats-PT 2695 Series 2005 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
$ | 11,120,000 | 2.31 | % | 07/06/2005 | $ | 11,120,000 | ||||||||
San Antonio GO VRDN P-Floats-PT 2696 Series 2005 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
11,045,000 | 2.31 | 07/06/2005 | 11,045,000 | |||||||||||
San Antonio GO VRDN Stars Certificates Series 2005-117 (BNP Paribas SPA) (VMIG1)(b) | ||||||||||||||
11,805,000 | 2.31 | 07/06/2005 | 11,805,000 | |||||||||||
San Antonio Water Revenue VRDN Merlots Series 2000 VV (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
17,420,000 | 2.32 | 07/06/2005 | 17,420,000 | |||||||||||
San Antonio Water System CP (Bank of America N.A. SPA) (A-1+/P-1) | ||||||||||||||
18,000,000 | 2.40 | 07/29/2005 | 18,000,000 | |||||||||||
9,000,000 | 2.85 | 08/10/2005 | 9,000,000 | |||||||||||
11,000,000 | 2.78 | 09/07/2005 | 11,000,000 | |||||||||||
20,000,000 | 2.80 | 09/08/2005 | 20,000,000 | |||||||||||
5,000,000 | 2.55 | 11/10/2005 | 5,000,000 | |||||||||||
San Antonio Water System VRDN RB ROCS II-R-4064 Series 2004 (FGIC) (Citigroup Global Markets SPA) (A-1+)(b) | ||||||||||||||
5,375,000 | 2.32 | 07/07/2005 | 5,375,000 | |||||||||||
South Texas Community College District VRDN P-Floats-PT 1415 Series 2002 (AMBAC) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
6,545,000 | 2.31 | 07/06/2005 | 6,545,000 | |||||||||||
Texas A&M University System Building Registration CP (A-1+/F1+) | ||||||||||||||
22,000,000 | 2.10 | 07/21/2005 | 22,000,000 | |||||||||||
21,000,000 | 2.10 | 07/26/2005 | 21,000,000 | |||||||||||
Texas State GO VRDN for Mobility Fund Series 2005 B (Depfa Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
16,000,000 | 2.22 | 07/06/2005 | 16,000,000 | |||||||||||
Texas State GO VRDN Municipal Securities Trust Receipts SGB 58 Series 2005 A (Societe Generale) (A-1+) | ||||||||||||||
5,800,000 | 2.32 | 07/07/2005 | 5,800,000 | |||||||||||
Texas State GO VRDN P-Floats-PT 1529 Series 2002 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
6,735,000 | 2.31 | 07/06/2005 | 6,735,000 | |||||||||||
Texas State GO VRDN P-Floats-PT 2841 Series 2005 (Merrill Lynch Capital Services SPA) (F1+) | ||||||||||||||
10,890,000 | 2.31 | 07/06/2005 | 10,890,000 | |||||||||||
Texas State GO VRDN P-Floats-PT 2868 Series 2005 (Merrill Lynch Capital Services SPA) (F1+) | ||||||||||||||
8,470,000 | 2.31 | 07/06/2005 | 8,470,000 | |||||||||||
Texas State GO VRDN ROCS RR-II-R 378 Series 2005 (Citibank N.A.) (VMIG1) | ||||||||||||||
8,000,000 | 2.32 | 07/07/2005 | 8,000,000 | |||||||||||
Texas State GO VRDN Spears Series 2005 DB-154 (Deutche Bank A.G.) (F1+) | ||||||||||||||
15,770,000 | 2.31 | 07/06/2005 | 15,770,000 | |||||||||||
Texas State Public Finance Authority CP Series 2002 (A-1+/P-1) | ||||||||||||||
3,835,000 | 2.75 | 08/24/2005 | 3,835,000 | |||||||||||
4,800,000 | 2.52 | 10/14/2005 | 4,800,000 | |||||||||||
Texas State Public Finance Authority CP Series 2003 (A-1+/P-1) | ||||||||||||||
7,500,000 | 2.46 | 07/12/2005 | 7,500,000 | |||||||||||
25,000,000 | 2.78 | 09/08/2005 | 25,000,000 | |||||||||||
Texas State TRANS Series 2004 (SP-1+/MIG1) | ||||||||||||||
202,940,000 | 3.00 | 08/31/2005 | 203,372,882 | |||||||||||
Texas State University System Financing VRDN RB P-Floats-PT 2441 Series 2004 (FSA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
5,235,000 | 2.31 | 07/06/2005 | 5,235,000 | |||||||||||
Texas Tech University VRDN RB ROCS RR-II-R 2195 Series 2005 (MBIA) (Citigroup Global Markets) (VMIG1) | ||||||||||||||
6,875,000 | 2.32 | 07/07/2005 | 6,875,000 | |||||||||||
Travis County GO VRDN P-Floats-PT 2644 Series 2005 (Merrill Lynch Capital Services) (A-1) | ||||||||||||||
8,010,000 | 2.30 | 07/06/2005 | 8,010,000 | |||||||||||
University of Texas CP Series 2005 (A-1+/P-1) | ||||||||||||||
18,874,000 | 2.45 | 07/13/2005 | 18,874,000 | |||||||||||
16,298,000 | 2.45 | 08/09/2005 | 16,298,000 | |||||||||||
5,000,000 | 2.62 | 10/11/2005 | 5,000,000 | |||||||||||
University of Texas Permanent University Fund VRDN RB for Municipal Trust Receipts (Societe Generale SPA) (A-1+)(b) | ||||||||||||||
6,690,000 | 2.32 | 07/07/2005 | 6,690,000 | |||||||||||
University of Texas VRDN RB P-Floats-PT 1698 Series 2003 A (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
500,000 | 2.31 | 07/06/2005 | 500,000 | |||||||||||
University of Texas VRDN RB P-Floats-PT 2423 Series 2004 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
13,000,000 | 2.30 | 07/06/2005 | 13,000,000 | |||||||||||
West Calhoun County Development Corp. VRDN RB for Sohio Chemical Corp. (A-1+/P-1) | ||||||||||||||
25,300,000 | 2.30 | 07/01/2005 | 25,300,000 | |||||||||||
West University Place GO VRDN Spears Series 2005 DB-151 (FGIC) (Deutche Bank A.G.) (A-1+)(a)(b) | ||||||||||||||
10,375,000 | 2.31 | 07/06/2005 | 10,375,000 | |||||||||||
Williamson County GO VRDN Stars Certificates Series 2005-114 (MBIA) (BNP Paribas SPA) (VMIG1)(b) | ||||||||||||||
6,675,000 | 2.31 | 07/06/2005 | 6,675,000 | |||||||||||
$ | 1,433,707,195 | |||||||||||||
Utah—3.9% | ||||||||||||||
Central Water Conservancy District GO VRDN Refunding Series 2004 C (AMBAC) (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 32,400,000 | 2.27 | % | 07/06/2005 | $ | 32,400,000 | ||||||||
Central Water Conservancy District GO VRDN Refunding for Tender Option Series 1998 E (AMBAC) (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
27,410,000 | 2.27 | 07/06/2005 | 27,410,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Utah (continued) | ||||||||||||||
Central Water Conservancy District GO VRDN Refunding for Tender Option Series 1998 F (AMBAC) (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 14,185,000 | 2.27 | % | 07/06/2005 | $ | 14,185,000 | ||||||||
Central Water Conservancy District GO VRDN Refunding Series 2002 A (AMBAC) (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
14,775,000 | 2.27 | 07/06/2005 | 14,775,000 | |||||||||||
Central Water Conservancy District GO VRDN Series 2004 B (AMBAC) (Landesbank Hessen-Thueringen SPA) (VMIG1) | ||||||||||||||
10,000,000 | 2.27 | 07/06/2005 | 10,000,000 | |||||||||||
Murray City Hospital VRDN RB for IHC Health Services, Inc. Series 2003 A (A-1+) | ||||||||||||||
67,000,000 | 2.30 | 07/07/2005 | 67,000,000 | |||||||||||
Murray City Hospital VRDN RB for IHC Health Services, Inc. Series 2003 B (A-1+) | ||||||||||||||
25,000,000 | 2.30 | 07/07/2005 | 25,000,000 | |||||||||||
Salt Lake County VRDN RB Sales Tax P-Floats-PT 2902 Series 2005 (A-1)(b) | ||||||||||||||
8,005,000 | 2.31 | 07/06/2005 | 8,005,000 | |||||||||||
Utah County Hospital VRDN RB for IHC Health Services, Inc. Series 2002 C (Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
19,000,000 | 2.28 | 07/07/2005 | 19,000,000 | |||||||||||
Utah State GO VRDN P-Floats-PT 429 Series 2000 (Depfa Bank PLC) (A-1+)(b) | ||||||||||||||
9,715,000 | 2.31 | 07/04/2005 | 9,715,000 | |||||||||||
Utah Transit Authority Sales Tax VRDN RB for Tender Option Subseries 2002 B (Bayerische Landesbank LOC) (A-1+/ VMIG1) | ||||||||||||||
29,100,000 | 2.25 | 07/07/2005 | 29,100,000 | |||||||||||
Utah Water Finance Agency VRDN RB for Tender Options Series 2005 A-11 (AMBAC) (JP Morgan Chase & Co. SPA) (VMIG1) | ||||||||||||||
8,400,000 | 2.32 | 07/06/2005 | 8,400,000 | |||||||||||
Utah Water Finance Agency VRDN RB for Tender Options Series 2005 A-12 (AMBAC) (JP Morgan Chase & Co. SPA) (VMIG1) | ||||||||||||||
6,000,000 | 2.32 | 07/06/2005 | 6,000,000 | |||||||||||
Utah Water Finance Agency VRDN RB Series 2002 A-1 (AMBAC) (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
8,170,000 | 2.32 | 07/06/2005 | 8,170,000 | |||||||||||
Utah Water Finance Agency VRDN RB Series 2004 A-9 (AMBAC) (JP Morgan Chase & Co. SPA) (VMIG1) | ||||||||||||||
10,000,000 | 2.32 | 07/06/2005 | 10,000,000 | |||||||||||
Weber County Hospital VRDN RB for IHC Health Services, Inc. Series 2000 B (Westdeutsche Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
7,400,000 | 2.30 | 07/01/2005 | 7,400,000 | |||||||||||
Weber County Hospital VRDN RB for IHC Health Services, Inc. Series 2000 C (Landesbank Hessen-Thueringen SPA) (A-1+/ VMIG1) | ||||||||||||||
17,650,000 | 2.30 | 07/01/2005 | 17,650,000 | |||||||||||
$ | 314,210,000 | |||||||||||||
Virginia—1.1% | ||||||||||||||
Fairfax County GO Refunding for Public Improvements Series 2004 B (AAA/Aaa) | ||||||||||||||
$ | 7,000,000 | 6.00 | % | 10/01/2005 | $ | 7,070,766 | ||||||||
Fairfax County IDA VRDN RB for Inova Health Systems Project PJ Series 2005 A-1 (A-1+/VMIG1) | ||||||||||||||
16,600,000 | 2.29 | 07/06/2005 | 16,600,000 | |||||||||||
Fairfax County IDA VRDN RB for Inova Health Systems Project Series 2005 A-2 (A-1+/VMIG1) | ||||||||||||||
8,500,000 | 2.29 | 07/06/2005 | 8,500,000 | |||||||||||
Reid Hospital & Health Care Service, Inc. VRDN RB for Reid Hospital Project Series 2005 A (FSA) (JP Morgan Chase & Co. SPA) (A-1+) | ||||||||||||||
10,000,000 | 2.28 | 07/06/2005 | 10,000,000 | |||||||||||
Roanoke IDA Hospital VRDN RB Refunding for Carilion Health Systems Series 2002 D (Bank of America N.A. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
6,520,000 | 2.28 | 07/01/2005 | 6,520,000 | |||||||||||
Roanoke IDA VRDN RB for Carilion Health System Series 2002 B (JP Morgan Chase & Co. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
4,650,000 | 2.30 | 07/01/2005 | 4,650,000 | |||||||||||
Suffolk GO Refunding for Public Improvement Series 2003 (AA-/ Aa2) | ||||||||||||||
5,085,000 | 6.00 | 08/01/2005 | 5,102,233 | |||||||||||
Virginia College Building Authority Educational Facilities VRDN RB for The University of Richmond Project Series 1999 (SunTrust Bank SPA) (VMIG1) | ||||||||||||||
3,000,000 | 2.29 | 07/06/2005 | 3,000,000 | |||||||||||
Virginia College Building Authority Educational Facilities VRDN RB for University of Richmond Project Series 2004 (SunTrust Bank SPA) (VMIG1) | ||||||||||||||
12,000,000 | 2.29 | 07/06/2005 | 12,000,000 | |||||||||||
Virginia State Public School Authority VRDN RB P-Floats-PT 2746 Series 2005 (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
7,535,000 | 2.30 | 07/06/2005 | 7,535,000 | |||||||||||
Virginia Transportation Board RB for Federal Highway Reimbursement Anticipation Notes Series 2000 (AA/Aa2) | ||||||||||||||
5,325,000 | 5.50 | 10/01/2005 | 5,371,985 | |||||||||||
$ | 86,349,984 | |||||||||||||
Washington—5.4% | ||||||||||||||
Energy Northwest Electric VRDN RB Merlots Series 2003-A04 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
$ | 8,730,000 | 2.32 | % | 07/06/2005 | $ | 8,730,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Washington (continued) | ||||||||||||||
Energy Northwest Electric VRDN RB Refunding for Project No. 3 Series 2003 E (JP Morgan Chase & Co. LOC) (A-1+/VMIG1)(a) | ||||||||||||||
$ | 66,725,000 | 2.32 | % | 07/06/2005 | $ | 66,725,000 | ||||||||
Grant County Public Utility District VRDN Eagle Tax-Exempt Trust Series 2001-4702 Class A (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
8,810,000 | 2.32 | 07/07/2005 | 8,810,000 | |||||||||||
King & Snohomish Counties Washington School District #417 Northshore GO VRDN P-Floats-PT 1445 Series 2002 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
5,190,000 | 2.31 | 07/06/2005 | 5,190,000 | |||||||||||
King County GO VRDN P-Floats-PT 2703 Series 2005 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
9,530,000 | 2.31 | 07/06/2005 | 9,530,000 | |||||||||||
King County School District No. 401 Highline Public Schools GO VRDN P-Floats-PT 1423 (FGIC) (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
11,095,000 | 2.31 | 07/06/2005 | 11,095,000 | |||||||||||
King County Sewer VRDN RB Eagle Tax-Exempt Trust Series 2005-0019 Class A (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
10,890,000 | 2.32 | 07/07/2005 | 10,890,000 | |||||||||||
King County Sewer VRDN RB Merlots Series 2004 C 30 (FSA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
7,530,000 | 2.32 | 07/06/2005 | 7,530,000 | |||||||||||
King County Water & Sewer Systems CP Series 2005 (Bayerische Landesbank SPA) (A-1/P-1) | ||||||||||||||
20,300,000 | 2.10 | 07/20/2005 | 20,300,000 | |||||||||||
9,000,000 | 2.10 | 07/26/2005 | 9,000,000 | |||||||||||
18,000,000 | 2.75 | 09/07/2005 | 18,000,000 | |||||||||||
13,000,000 | 2.75 | 10/14/2005 | 13,000,000 | |||||||||||
Port Seattle VRDN RB Series 2003 849-D (MBIA) (Morgan Stanley SPA) (A-1)(a)(b) | ||||||||||||||
20,356,500 | 2.31 | 07/07/2005 | 20,356,500 | |||||||||||
Seattle Water Systems VRDN RB Eagle Tax-Exempt Trust Series 2005-0016 Class A (MBIA) (Citibank N.A.) (A-1+)(a)(b) | ||||||||||||||
12,530,000 | 2.32 | 07/07/2005 | 12,530,000 | |||||||||||
Tacoma Regional Water Supply Systems VRDN RB Merlots Series 2003-B05 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
13,865,000 | 2.32 | 07/06/2005 | 13,865,000 | |||||||||||
Washington State COPS Eagle Tax-Exempt Trust Series 2000 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
12,000,000 | 2.32 | 07/06/2005 | 12,000,000 | |||||||||||
Washington State Eagle Tax-Exempt Trust Series 2002 (Merrill Lynch Capital Services SPA) (A-1)(a)(b) | ||||||||||||||
10,325,000 | 2.31 | 07/06/2005 | 10,325,000 | |||||||||||
Washington State Eagle Tax-Exempt Trust Series 2002-4703 Class A (MBIA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
6,915,000 | 2.32 | 07/07/2005 | 6,915,000 | |||||||||||
Washington State GO Eagle Tax-Exempt Trust Series 1996C-4704 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
8,525,000 | 2.32 | 07/06/2005 | 8,525,000 | |||||||||||
Washington State GO Series 2003 A (FGIC) (AA/Aa1) | ||||||||||||||
6,780,000 | 5.00 | 07/01/2005 | 6,780,000 | |||||||||||
Washington State GO VRDN Eagle Tax-Exempt Trust Series 1998-4702 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
6,500,000 | 2.32 | 07/06/2005 | 6,500,000 | |||||||||||
Washington State GO VRDN Eagle Tax-Exempt Trust Series 2002-4701 Class A (FSA) (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
10,060,000 | 2.32 | 07/07/2005 | 10,060,000 | |||||||||||
Washington State GO VRDN for Merlots Series 2002 A65 (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
7,565,000 | 2.32 | 07/06/2005 | 7,565,000 | |||||||||||
Washington State GO VRDN Merlots Series 2002 A-57 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
20,415,000 | 2.32 | 07/06/2005 | 20,415,000 | |||||||||||
Washington State GO VRDN Merlots Series 2003 B-23 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
18,190,000 | 2.32 | 07/06/2005 | 18,190,000 | |||||||||||
Washington State GO VRDN Merlots Series 2004 A-07 (MBIA) (Wachovia Bank N.A. SPA) (VMIG1)(a)(b) | ||||||||||||||
5,720,000 | 2.32 | 07/06/2005 | 5,720,000 | |||||||||||
Washington State GO VRDN Merlots Series 2004 B 22 (FSA) (Wachovia Bank N.A. SPA) (A-1)(a)(b) | ||||||||||||||
4,985,000 | 2.32 | 07/06/2005 | 4,985,000 | |||||||||||
Washington State GO VRDN Merlots Series 2004 C10 (AMBAC) (Wachovia Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
8,405,000 | 2.32 | 07/06/2005 | 8,405,000 | |||||||||||
Washington State GO VRDN P-Floats-PT 1111 Series 2003 (Merrill Lynch Capital Services SPA) (A-1)(b) | ||||||||||||||
2,490,000 | 2.32 | 07/06/2005 | 2,490,000 | |||||||||||
Washington State GO VRDN P-Floats-PT 2093 Series 2004 (AMBAC) (Merrill Lynch Capital Services SPA) (F1+)(a)(b) | ||||||||||||||
8,940,000 | 2.31 | 07/06/2005 | 8,940,000 | |||||||||||
Washington State GO VRDN P-Floats-PT 2308 Series 2004 (MBIA) (Merrill Lynch Capital Services SPA) (A-1)(a)(b) | ||||||||||||||
5,870,000 | 2.31 | 07/06/2005 | 5,870,000 | |||||||||||
Washington State GO VRDN P-Floats-PT 2560 Series 2005 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
8,610,000 | 2.31 | 07/06/2005 | 8,610,000 | |||||||||||
Washington State GO VRDN P-Floats-PT 2600 Series 2005 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
6,525,000 | 2.31 | 07/06/2005 | 6,525,000 | |||||||||||
Washington State GO VRDN P-Floats-PT 433 Series 2000 (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
19,865,000 | 2.31 | 07/06/2005 | 19,865,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Washington (continued) | ||||||||||||||
Washington State Health Care Facilities Authority VRDN RB for Catholic Health Initiatives Series 2002 B (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 22,000,000 | 2.32 | % | 07/06/2005 | $ | 22,000,000 | ||||||||
$ | 436,236,500 | |||||||||||||
West Virginia—0.1% | ||||||||||||||
Marshall County VRDN PCRB for Mountaineer Carbon Co. Series 2005 (A-1+/P-1) | ||||||||||||||
$ | 6,500,000 | 2.30 | % | 07/01/2005 | $ | 6,500,000 | ||||||||
Wisconsin—2.7% | ||||||||||||||
Delavan Darien School District TRANS Series 2004 | ||||||||||||||
$ | 1,100,000 | 3.00 | % | 08/26/2005 | $ | 1,102,190 | ||||||||
Milwaukee Metropolitan Sewage District GO Capital Purpose Bonds Series 1992 A Eagle Tax-Exempt Trust Series 1994-4905 Class A (Citibank N.A. SPA) (A-1)(b) | ||||||||||||||
10,300,000 | 2.32 | 10/01/2005 | 10,300,000 | |||||||||||
Milwaukee Metropolitan Sewage District GO VRDN P-Floats-PT 2678 Series 2005 (Dexia Credit Local SPA) (F1+)(b) | ||||||||||||||
11,650,000 | 2.31 | 07/06/2005 | 11,650,000 | |||||||||||
Wisconsin State GO VRDN P-Floats PT 2686 Series 2005 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
9,995,000 | 2.31 | 07/06/2005 | 9,995,000 | |||||||||||
Wisconsin State GO VRDN P-Floats-PT 1507 Series 2002 (FGIC) (Merrill Lynch Capital Services SPA) (A-1+)(b) | ||||||||||||||
5,815,000 | 2.31 | 07/06/2005 | 5,815,000 | |||||||||||
Wisconsin State GO VRDN P-Floats-PT 2213 Series 2004 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
29,960,000 | 2.31 | 07/06/2005 | 29,960,000 | |||||||||||
Wisconsin State GO VRDN P-Floats-PT 2526 Series 2005 (MBIA) (Merrill Lynch Capital Services SPA) (F1+)(b) | ||||||||||||||
8,195,000 | 2.31 | 07/06/2005 | 8,195,000 | |||||||||||
Wisconsin State GO VRDN Series 2004-901 (MBIA) (Morgan Stanley SPA) (VMIG1)(b) | ||||||||||||||
6,000,000 | 2.31 | 07/07/2005 | 6,000,000 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB for Aurora Health Care, Inc. Series 1999 C (KBC Bank N.V. and Bank of Nova Scotia) (A-1) | ||||||||||||||
10,000,000 | 2.24 | 07/06/2005 | 10,000,000 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB for Froedtert & Community Health Series 2005 B (AMBAC) (Morgan Stanley Bank SPA) (A-1) | ||||||||||||||
20,000,000 | 2.23 | 07/07/2005 | 20,000,000 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB for Froedtert & Community Health Series 2005 C (AMBAC) (Morgan Stanley Bank SPA) (A-1) | ||||||||||||||
8,500,000 | 2.27 | 07/07/2005 | 8,500,000 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB P-Floats-PT 917 Series 2004 (MBIA) (Landesbank Hessen-Thueringen SPA) (F1+)(b) | ||||||||||||||
78,990,000 | 2.31 | 07/06/2005 | 78,990,000 |
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Wisconsin—2.7% (continued) | ||||||||||||||
Wisconsin State Transportation Board VRDN RB Eagle Tax-Exempt Trust Series 2000-4901 Class A (Citibank N.A. SPA) (A-1+)(b) | ||||||||||||||
$ | 7,615,000 | 2.32 | % | 07/07/2005 | $ | 7,615,000 | ||||||||
Wisconsin State Transportation VRDN RB ROCS-RR-II-R 1070 Series 2005 (FSA) (Citigroup Global Markets SPA) (A-1+)(a)(b) | ||||||||||||||
8,980,000 | 2.32 | �� | 07/07/2005 | 8,980,000 | ||||||||||
$ | 217,102,190 | |||||||||||||
Total Investments—102.1% | $ | 8,222,362,319 | ||||||||||||
(a) | All or portion represents a forward commitment. | |
(b) | Securities not registered under the Securities Act of 1933, as amended. Such securities have been determined to be liquid by the Investment Adviser. At June 30, 2005, these securities amounted to $2,581,854,500 or approximately 33.4% of net assets. | |
(c) | Securities not registered under the Securities Act of 1933, as amended. Such securities have been determined to be illiquid by the Investment Adviser. At June 30, 2005, these securities amounted to $28,240,000 or approximately 0.3% of net assets. |
Interest rates represent either the stated coupon rate, or for floating rate securities, the current reset rate, which is based upon current interest rate indices.
Maturity dates represent either the stated date on the security, the next interest reset date for floating rate securities, or the prerefunded date for those types of securities.
Security ratings are obtained from Standard & Poor’s/Moody’s Investor Service/Fitch. A description of the ratings is available in the Fund’s Statement of Additional Investment Information.
AMBAC | — | Insured by American Municipal Bond Assurance Corp. | ||
BANS | — | Bond Anticipation Notes | ||
COPS | — | Certificates of Participation | ||
CP | — | Commercial Paper | ||
FGIC | — | Insured by Financial Guaranty Insurance Co. | ||
FHLMC | — | Insured by Federal Home Loan Mortgage Corp. | ||
FNMA | — | Insured by Federal National Mortgage Association | ||
FSA | — | Insured by Financial Security Assurance Co. | ||
GO | — | General Obligation | ||
IDA | — | Industrial Development Authority | ||
IDB | — | Industrial Development Bond | ||
IDRB | — | Industrial Development Revenue Bond | ||
LOC | — | Letter of Credit | ||
MBIA | — | Insured by Municipal Bond Investors Assurance | ||
MBIA-IBC | — | Insured by Municipal Bond Investors Assurance — Insured Bond Certificates | ||
MF Hsg. | — | Multi-Family Housing | ||
PCRB | — | Pollution Control Revenue Bond | ||
PSF-GTD | — | Guaranteed by Permanent School Fund | ||
RANS | — | Revenue Anticipation Notes | ||
RB | — | Revenue Bond | ||
RMKT | — | Remarketed | ||
ROCS | — | Reset Option Certificates | ||
SPA | — | Stand-by Purchase Agreement | ||
TANS | — | Tax Anticipation Notes | ||
TFA | — | Transportation Finance Authority | ||
TRANS | — | Tax Revenue Anticipation Notes | ||
VRDN | — | Variable Rate Demand Notes | ||
XLCA | — | Insured by XL Capital Assurance |
Taxable Funds
Security Type | Prime | Money | Treasury | Treasury | ||||||||||||||||||||
(Percentage of Portfolio) | Obligations | Market | Government | Obligations | Instruments | Federal | ||||||||||||||||||
Bank Notes | 0.1 | % | — | — | — | — | — | |||||||||||||||||
Certificates of Deposit | 5.5 | 0.6 | % | — | — | — | — | |||||||||||||||||
Certificates of Deposit-Eurodollar | — | 4.0 | — | — | — | — | ||||||||||||||||||
Certificates of Deposit-Yankeedollar | — | 9.1 | — | — | — | — | ||||||||||||||||||
Commercial Paper & Corporate Obligations | 40.6 | 37.5 | — | — | — | — | ||||||||||||||||||
Master Demand Notes | 1.6 | 0.8 | — | — | — | — | ||||||||||||||||||
Medium Term Notes | 0.1 | — | — | — | — | — | ||||||||||||||||||
Repurchase Agreements | 15.4 | 12.5 | 40.2 | % | 94.5 | % | — | — | ||||||||||||||||
Time Deposits | 1.5 | 3.3 | — | — | — | — | ||||||||||||||||||
US Government Agency Obligations | 22.3 | 13.0 | 59.8 | — | — | 96.8 | % | |||||||||||||||||
US Treasury Obligations | — | — | — | 5.5 | 100.0 | % | 3.2 | |||||||||||||||||
Variable Rate Obligations | 12.9 | 19.2 | — | — | — | — | ||||||||||||||||||
Tax Exempt Funds
Security Type | Tax-Free | |||
(Percentage of Portfolio) | Money Market | |||
Commercial Paper | 13.8 | % | ||
General Obligation Bond | 0.7 | |||
Put Bonds | 1.3 | |||
Revenue Anticipation Notes | 0.3 | |||
Revenue Bonds | 0.2 | |||
Tax and Revenue Anticipation Notes | 5.2 | |||
Tax Anticipation Notes | 1.2 | |||
Variable Rate Obligations | 77.3 | |||
† | The funds are actively managed and, as such, their composition may differ over time. |
Goldman Sachs Trust—Financial Square Funds
Prime | Money | |||||||||
Obligations | Market | |||||||||
Fund | Fund | |||||||||
Assets: | ||||||||||
Investment in securities, based on amortized cost | $ | 19,395,284,312 | $ | 10,482,653,944 | ||||||
Repurchase agreements, based on amortized cost — unaffiliated issuers | 3,258,700,000 | 1,217,100,000 | ||||||||
Repurchase agreements, based on amortized cost — affiliated issuers | 275,100,000 | 278,200,000 | ||||||||
Cash | 12,493 | 95,721 | ||||||||
Receivables: | ||||||||||
Investment securities sold | — | — | ||||||||
Interest | 37,365,780 | 23,957,313 | ||||||||
Fund shares sold | 61,270 | 3,177,639 | ||||||||
Reimbursements from investment adviser | — | — | ||||||||
Other assets | 266,026 | 140,410 | ||||||||
Total assets | $ | 22,966,789,881 | 12,005,325,027 | |||||||
Liabilities: | ||||||||||
Due to custodian | — | — | ||||||||
Payables: | ||||||||||
Investment securities purchased | 125 | — | ||||||||
Income distribution | 35,350,230 | 11,685,360 | ||||||||
Fund shares repurchased | 14,683 | 1,550,313 | ||||||||
Amounts owed to affiliates | 3,285,862 | 1,685,950 | ||||||||
Accrued expenses and other liabilities | 1,533,818 | 439,529 | ||||||||
Total liabilities | 40,184,718 | 15,361,152 | ||||||||
Net Assets: | ||||||||||
Paid-in capital | 22,926,605,163 | 11,989,963,875 | ||||||||
Accumulated net realized loss on investment transactions | — | — | ||||||||
Net assets | $ | 22,926,605,163 | $ | 11,989,963,875 | ||||||
Net asset value, offering and redemption price per share: | $1.00 | $1.00 | ||||||||
Net Assets: | ||||||||||
FST Shares | 16,994,790,031 | 10,759,290,465 | ||||||||
FST Select Shares | 64,068,826 | 145,084,875 | ||||||||
FST Preferred Shares | 1,367,578,673 | 143,278,583 | ||||||||
FST Capital Shares | 239,353,136 | 18,972,162 | ||||||||
FST Administration Shares | 3,005,803,686 | 623,053,393 | ||||||||
FST Service Shares | 1,255,010,811 | 300,284,397 | ||||||||
Shares outstanding: | ||||||||||
FST Shares | 16,994,790,031 | 10,759,290,465 | ||||||||
FST Select Shares | 64,068,826 | 145,084,875 | ||||||||
FST Preferred Shares | 1,367,578,673 | 143,278,583 | ||||||||
FST Capital Shares | 239,353,136 | 18,972,162 | ||||||||
FST Administration Shares | 3,005,803,686 | 623,053,393 | ||||||||
FST Service Shares | 1,255,010,811 | 300,284,397 | ||||||||
Total shares outstanding, $0.001 par value (unlimited number of shares authorized) | 22,926,605,163 | 11,989,963,875 | ||||||||
Treasury | Treasury | Tax-Free | ||||||||||||||||
Obligations | Instruments | Government | Federal | Money Market | ||||||||||||||
Fund | Fund | Fund | Fund | Fund | ||||||||||||||
$ | 241,244,126 | $ | 2,055,789,973 | $ | 2,249,850,963 | $ | 7,828,018,541 | $ | 8,222,362,319 | |||||||||
4,142,400,000 | — | 1,439,400,000 | — | — | ||||||||||||||
— | — | 71,700,000 | — | — | ||||||||||||||
95,898 | 96,544 | 40,579 | 45,351 | — | ||||||||||||||
— | — | — | 374,290,538 | 79,276,089 | ||||||||||||||
851,806 | — | 7,380,324 | 12,573,335 | 37,108,390 | ||||||||||||||
— | — | 7,479 | 463 | 779,942 | ||||||||||||||
22,348 | 26,885 | 23,859 | 6,722 | — | ||||||||||||||
144,783 | 38,753 | 61,161 | 92,871 | 96,465 | ||||||||||||||
4,384,758,961 | $ | 2,055,952,155 | 3,768,464,365 | $ | 8,215,027,821 | 8,339,623,205 | ||||||||||||
— | — | — | — | 2,643,696 | ||||||||||||||
— | — | — | 399,002,889 | 279,071,939 | ||||||||||||||
6,877,931 | 2,763,453 | 4,841,912 | 5,503,711 | 4,631,420 | ||||||||||||||
177,000 | — | — | — | 257,444 | ||||||||||||||
696,417 | 317,810 | 517,114 | 1,196,473 | 1,115,343 | ||||||||||||||
787,280 | 256,875 | 449,507 | 446,842 | 280,275 | ||||||||||||||
8,538,628 | 3,338,138 | 5,808,533 | 406,149,915 | 288,000,117 | ||||||||||||||
4,376,220,333 | 2,052,614,017 | 3,762,655,832 | 7,808,884,243 | 8,051,955,138 | ||||||||||||||
— | — | — | (6,337 | ) | (332,050 | ) | ||||||||||||
$ | 4,376,220,333 | 2,052,614,017 | $ | 3,762,655,832 | 7,808,877,906 | $ | 8,051,623,088 | |||||||||||
$1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | ||||||||||
1,404,436,542 | 1,458,708,796 | 1,808,138,848 | 6,722,708,205 | 7,143,393,618 | ||||||||||||||
1,151 | 65,507 | 101,798,440 | 3,129 | 94,191,395 | ||||||||||||||
482,638,301 | 46,720,409 | 640,331,259 | 63,287,984 | 251,012,227 | ||||||||||||||
1,221,346 | 8,633,169 | 102,413,124 | 3,731,280 | 74,530,434 | ||||||||||||||
1,729,470,597 | 429,856,602 | 859,914,911 | 539,134,404 | 342,854,595 | ||||||||||||||
758,452,396 | 108,629,534 | 250,059,250 | 480,012,904 | 145,640,819 | ||||||||||||||
1,404,436,542 | 1,458,708,796 | 1,808,138,848 | 6,722,713,656 | 7,143,573,966 | ||||||||||||||
1,151 | 65,507 | 101,798,440 | 3,129 | 94,194,880 | ||||||||||||||
482,638,301 | 46,720,409 | 640,331,259 | 63,288,036 | 251,014,808 | ||||||||||||||
1,221,346 | 8,633,169 | 102,413,124 | 3,731,283 | 74,530,384 | ||||||||||||||
1,729,470,597 | 429,856,602 | 859,914,911 | 539,134,853 | 342,863,893 | ||||||||||||||
758,452,396 | 108,629,534 | 250,059,250 | 480,013,286 | 145,640,458 | ||||||||||||||
4,376,220,333 | 2,052,614,017 | 3,762,655,832 | 7,808,884,243 | 8,051,818,389 | ||||||||||||||
Prime | ||||||||||
Obligations | Money | |||||||||
Fund | Market Fund | |||||||||
Investment income: | ||||||||||
Interest—unaffiliated | $ | 316,871,501 | $ | 166,349,640 | ||||||
Interest—affiliated | 10,165,510 | 1,964,013 | ||||||||
Total income | 327,037,011 | 168,313,653 | ||||||||
Expenses: | ||||||||||
Non-Class Specific Expenses: | ||||||||||
Management fees | 24,232,133 | 12,380,541 | ||||||||
Custody and accounting fees | 771,340 | 454,428 | ||||||||
Registration fees | 132,954 | 45,590 | ||||||||
Professional fees | 31,965 | 31,965 | ||||||||
Printing fees | 17,474 | 17,474 | ||||||||
Trustee fees | 7,823 | 7,823 | ||||||||
Other | 299,111 | 165,354 | ||||||||
Subtotal | 25,492,800 | 13,103,175 | ||||||||
Class Specific Expenses: | ||||||||||
Administration Share fees | 3,652,076 | 818,437 | ||||||||
Service Share fees | 2,756,927 | 739,188 | ||||||||
Preferred Share fees | 732,403 | 58,569 | ||||||||
Capital Share fees | 166,830 | 12,514 | ||||||||
Select Share fees | 11,851 | 14,054 | ||||||||
Total expenses | 32,812,887 | 14,745,937 | ||||||||
Less—expense reductions | (4,137,726 | ) | (2,114,295 | ) | ||||||
Net expenses | 28,675,161 | 12,631,642 | ||||||||
Net investment income | 298,361,850 | 155,682,011 | ||||||||
Net realized loss on investment transactions | (65,442 | ) | — | |||||||
Net increase in net assets resulting from operations | $ | 298,296,408 | $ | 155,682,011 | ||||||
Treasury | Treasury | Tax-Free | ||||||||||||||||
Obligations | Instruments | Government | Money Market | |||||||||||||||
Fund | Fund | Fund | Federal Fund | Fund | ||||||||||||||
$ | 59,020,001 | $ | 24,025,152 | $ | 52,021,744 | $ | 99,077,465 | $ | 86,555,939 | |||||||||
— | — | 1,458,209 | — | — | ||||||||||||||
59,020,001 | 24,025,152 | 53,479,953 | 99,077,465 | 86,555,939 | ||||||||||||||
4,519,850 | 1,908,910 | 4,006,253 | 7,520,462 | 8,202,951 | ||||||||||||||
250,793 | 166,181 | 214,173 | 330,291 | 351,117 | ||||||||||||||
49,010 | 27,127 | 42,718 | 57,856 | 43,592 | ||||||||||||||
29,485 | 27,502 | 28,246 | 31,965 | 28,810 | ||||||||||||||
18,235 | 18,235 | 17,474 | 17,474 | 17,300 | ||||||||||||||
7,823 | 7,823 | 7,823 | 7,823 | 7,823 | ||||||||||||||
78,375 | 41,727 | 80,610 | 109,225 | 102,032 | ||||||||||||||
4,953,571 | 2,197,505 | 4,397,297 | 8,075,096 | 8,753,625 | ||||||||||||||
2,034,545 | 383,899 | 1,093,552 | 718,580 | 432,275 | ||||||||||||||
1,573,355 | 288,983 | 732,347 | 1,185,367 | 311,600 | ||||||||||||||
241,274 | 11,305 | 196,892 | 25,305 | 117,333 | ||||||||||||||
1,590 | 15,136 | 81,756 | 2,792 | 58,245 | ||||||||||||||
— | 9 | 23,201 | — | 17,705 | ||||||||||||||
8,804,335 | 2,896,837 | 6,525,045 | 10,007,140 | 9,690,783 | ||||||||||||||
(456,276 | ) | (298,491 | ) | (801,983 | ) | (591,892 | ) | (1,400,504 | ) | |||||||||
8,348,059 | 2,598,346 | 5,723,062 | 9,415,248 | 8,290,279 | ||||||||||||||
50,671,942 | 21,426,806 | 47,756,891 | 89,662,217 | 78,265,660 | ||||||||||||||
(377,242 | ) | (75,952 | ) | (379,603 | ) | (57,015 | ) | (52,513 | ) | |||||||||
$ | 50,294,700 | $ | 21,350,854 | $ | 47,377,288 | $ | 89,605,202 | $ | 78,213,147 | |||||||||
Prime Obligations Fund | |||||||||
For the | |||||||||
Six Months | |||||||||
Ended | For the | ||||||||
June 30, 2005 | Year Ended | ||||||||
(Unaudited) | December 31, 2004 | ||||||||
From operations: | |||||||||
Net investment income | $ | 298,361,850 | $ | 291,239,486 | |||||
Net realized gain (loss) on investment transactions | (65,442 | ) | 771,611 | ||||||
Net increase in net assets resulting from operations | 298,296,408 | 292,011,097 | |||||||
Distributions to shareholders: | |||||||||
From net investment income | |||||||||
FST Shares | (230,547,545 | ) | (231,767,815 | ) | |||||
FST Select Shares | (990,626 | ) | (1,147,793 | ) | |||||
FST Preferred Shares | (18,107,585 | ) | (18,831,911 | ) | |||||
FST Capital Shares | (2,701,187 | ) | (2,492,876 | ) | |||||
FST Administration Shares | (34,289,746 | ) | (31,298,177 | ) | |||||
FST Service Shares | (11,573,751 | ) | (6,558,493 | ) | |||||
Total distributions to shareholders | (298,210,440 | ) | (292,097,065 | ) | |||||
From share transactions (at $1.00 per share): | |||||||||
Proceeds from sales of shares | 98,144,773,191 | 198,626,247,750 | |||||||
Proceeds received in connection with merger (Note 7) | — | 118,576,062 | |||||||
Reinvestment of dividends and distributions | 105,172,146 | 104,083,915 | |||||||
Cost of shares repurchased | (96,917,433,554 | ) | (205,779,728,582 | ) | |||||
Net increase (decrease) in net assets resulting from share transactions | 1,332,511,783 | (6,930,820,855 | ) | ||||||
Total increase (decrease) | 1,332,597,751 | (6,930,906,823 | ) | ||||||
Net assets: | |||||||||
Beginning of period | 21,594,007,412 | 28,524,914,235 | |||||||
End of period | $ | 22,926,605,163 | $ | 21,594,007,412 | |||||
Undistributed net investment income | $ | — | $ | — | |||||
Money Market Fund | Treasury Obligations Fund | Treasury Instruments Fund | ||||||||||||||||||||
For the | For the | For the | ||||||||||||||||||||
Six Months | Six Months | Six Months | ||||||||||||||||||||
Ended | For the | Ended | For the | Ended | For the | |||||||||||||||||
June 30, 2005 | Year Ended | June 30, 2005 | Year Ended | June 30, 2005 | Year Ended | |||||||||||||||||
(Unaudited) | December 31, 2004 | (Unaudited) | December 31, 2004 | (Unaudited) | December 31, 2004 | |||||||||||||||||
$ | 155,682,011 | $ | 120,512,007 | $ | 50,671,942 | $ | 39,638,672 | $ | 21,426,806 | $ | 13,657,803 | |||||||||||
— | 356,438 | (377,242 | ) | (382,116 | ) | (75,952 | ) | 190,318 | ||||||||||||||
155,682,011 | 120,868,445 | 50,294,700 | 39,256,556 | 21,350,854 | 13,848,121 | |||||||||||||||||
(141,869,495 | ) | (112,081,054 | ) | (20,227,936 | ) | (18,759,296 | ) | (16,513,822 | ) | (11,060,420 | ) | |||||||||||
(1,263,168 | ) | (464,767 | ) | (15 | ) | (20,334 | ) | (753 | ) | (1,969 | ) | |||||||||||
(1,508,125 | ) | (1,435,181 | ) | (5,651,142 | ) | (4,860,623 | ) | (242,105 | ) | (175,927 | ) | |||||||||||
(206,459 | ) | (437,748 | ) | (24,153 | ) | (26,582 | ) | (224,964 | ) | (234,969 | ) | |||||||||||
(7,729,336 | ) | (4,293,670 | ) | (17,950,083 | ) | (12,522,007 | ) | (3,279,964 | ) | (1,874,162 | ) | |||||||||||
(3,105,428 | ) | (2,156,025 | ) | (6,183,877 | ) | (3,325,208 | ) | (1,088,474 | ) | (501,446 | ) | |||||||||||
(155,682,011 | ) | (120,868,445 | ) | (50,037,206 | ) | (39,514,050 | ) | (21,350,082 | ) | (13,848,893 | ) | |||||||||||
37,109,899,835 | 53,246,533,953 | 16,124,926,680 | 30,806,582,717 | 6,281,380,386 | 9,643,417,022 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
88,482,102 | 64,407,536 | 14,694,716 | 13,642,007 | 6,611,517 | 3,428,548 | |||||||||||||||||
(35,438,083,076 | ) | (54,452,942,253 | ) | (16,778,550,765 | ) | (29,788,471,674 | ) | (6,361,744,716 | ) | (8,656,710,800 | ) | |||||||||||
1,760,298,861 | (1,142,000,764 | ) | (638,929,369 | ) | 1,031,753,050 | (73,752,813 | ) | 990,134,770 | ||||||||||||||
1,760,298,861 | (1,142,000,764 | ) | (638,671,875 | ) | 1,031,495,556 | (73,752,041 | ) | 990,133,998 | ||||||||||||||
10,229,665,014 | 11,371,665,778 | 5,014,892,208 | 3,983,396,652 | 2,126,366,058 | 1,136,232,060 | |||||||||||||||||
$ | 11,989,963,875 | $ | 10,229,665,014 | $ | 4,376,220,333 | $ | 5,014,892,208 | $ | 2,052,614,017 | $ | 2,126,366,058 | |||||||||||
$ | — | $ | — | $ | — | $ | 124,622 | $ | — | $ | — | |||||||||||
Government Fund | |||||||||
For the | |||||||||
Six Months | |||||||||
Ended | For the | ||||||||
June 30, 2005 | Year Ended | ||||||||
(Unaudited) | December 31, 2004 | ||||||||
From operations: | |||||||||
Net investment income | $ | 47,756,891 | $ | 45,599,992 | |||||
Net realized gain (loss) on investment transactions | (379,603 | ) | 3,803 | ||||||
Net increase in net assets resulting from operations | 47,377,288 | 45,603,795 | |||||||
Distributions to shareholders: | |||||||||
From net investment income | |||||||||
FST Shares | (26,341,162 | ) | (27,024,362 | ) | |||||
FST Select Shares | (1,928,541 | ) | (1,339,445 | ) | |||||
FST Preferred Shares | (4,782,504 | ) | (5,611,944 | ) | |||||
FST Capital Shares | (1,317,288 | ) | (892,716 | ) | |||||
FST Administration Shares | (10,002,174 | ) | (8,820,087 | ) | |||||
FST Service Shares | (3,005,619 | ) | (1,915,241 | ) | |||||
Total distributions to shareholders | (47,377,288 | ) | (45,603,795 | ) | |||||
From share transactions (at $1.00 per share): | |||||||||
Proceeds from sales of shares | 16,410,485,201 | 31,090,402,852 | |||||||
Proceeds received in connection with merger (Note 7) | — | — | |||||||
Reinvestment of dividends and distributions | 22,055,202 | 18,324,949 | |||||||
Cost of shares repurchased | (17,288,525,486 | ) | (30,243,062,061 | ) | |||||
Net increase (decrease) in net assets resulting from share transactions | (855,985,083 | ) | 865,665,740 | ||||||
Total increase (decrease) | (855,985,083 | ) | 865,665,740 | ||||||
Net assets: | |||||||||
Beginning of period | 4,618,640,915 | 3,752,975,175 | |||||||
End of period | $ | 3,762,655,832 | $ | 4,618,640,915 | |||||
Undistributed net investment income | $ | — | $ | — | |||||
Federal Fund | Tax-Free Money Market | |||||||||||||
For the | For the | |||||||||||||
Six Months | Six Months | |||||||||||||
Ended | For the | Ended | For the | |||||||||||
June 30, 2005 | Year Ended | June 30, 2005 | Year Ended | |||||||||||
(Unaudited) | December 31, 2004 | (Unaudited) | December 31, 2004 | |||||||||||
$ | 89,662,217 | $ | 83,476,561 | $ | 78,265,660 | $ | 81,811,593 | |||||||
(57,015 | ) | 120,922 | (52,513 | ) | (92,197 | ) | ||||||||
89,605,202 | 83,597,483 | 78,213,147 | 81,719,396 | |||||||||||
(77,740,338 | ) | (75,198,250 | ) | (70,152,513 | ) | (75,450,477 | ) | |||||||
(38 | ) | (60 | ) | (1,154,049 | ) | (1,706,359 | ) | |||||||
(610,741 | ) | (1,039,424 | ) | (2,270,746 | ) | (1,874,561 | ) | |||||||
(43,657 | ) | (39,599 | ) | (721,442 | ) | (117,030 | ) | |||||||
(6,434,622 | ) | (4,207,112 | ) | (2,996,218 | ) | (2,298,727 | ) | |||||||
(4,782,143 | ) | (3,113,038 | ) | (970,692 | ) | (364,439 | ) | |||||||
(89,611,539 | ) | (83,597,483 | ) | (78,265,660 | ) | (81,811,593 | ) | |||||||
19,603,999,147 | 32,658,000,785 | 24,912,444,355 | 44,722,231,278 | |||||||||||
— | — | — | — | |||||||||||
61,578,482 | 62,162,740 | 51,633,049 | 53,945,332 | |||||||||||
(20,401,806,017 | ) | (32,289,700,292 | ) | (25,749,695,635 | ) | (43,607,686,452 | ) | |||||||
(736,228,388 | ) | 430,463,233 | (785,618,231 | ) | 1,168,490,158 | |||||||||
(736,234,725 | ) | 430,463,233 | (785,670,744 | ) | 1,168,397,961 | |||||||||
8,545,112,631 | 8,114,649,398 | 8,837,293,832 | 7,668,895,871 | |||||||||||
$ | 7,808,877,906 | $ | 8,545,112,631 | $ | 8,051,623,088 | $ | 8,837,293,832 | |||||||
$ | — | $ | — | $ | — | $ | — | |||||||
1. Organization
2. Significant Accounting Policies
A. Investment Valuation—
B. Security Transactions and Interest Income—
C. Federal Taxes—
Year of | ||||||||
Fund | Expiration | Amount | ||||||
Tax-Free Money Market | 2011 | $ | 187,000 | |||||
2012 | 87,000 | |||||||
Total | $ | 274,000 | ||||||
D. Expenses—
E. Forward Commitment Transactions—
F. Repurchase Agreements—
3. Agreements
Other | ||||||||||||||||
Expenses | Custody | |||||||||||||||
Management | Reimbursed | Fee | ||||||||||||||
Fund | Fees Waived | by Adviser | Reductions | Total | ||||||||||||
Prime Obligations | $ | 4,137 | $ | — | $ | 1 | $ | 4,138 | ||||||||
Money Market | 2,113 | — | 1 | 2,114 | ||||||||||||
Treasury Obligations | 330 | 125 | 1 | 456 | ||||||||||||
Treasury Instruments | 140 | 158 | 1 | 299 | ||||||||||||
Government | 684 | 117 | 1 | 802 | ||||||||||||
Federal | 550 | 41 | 1 | 592 | ||||||||||||
Tax-Free Money Market | 1,401 | — | — | 1,401 | ||||||||||||
Goldman Sachs serves as Transfer Agent and Distributor of shares of the Funds pursuant to Transfer Agent and Distribution Agreements and receives no separate fee.
At a meeting held on June 16, 2005, the Board of Trustees of the Trust approved Transfer Agent Fees, and GSAM agreed to voluntarily increase its management fee waiver for the Funds, which will be effective July 1, 2005. GSAM will implement the waivers and fees for the Funds as follows:
Management Fee | Transfer Agent | |||||||
Fund | Waiver (BP) | Fee (BP) | ||||||
Prime Obligations | 5 | 1.5 | ||||||
Money Market | 5 | 1.5 | ||||||
Treasury Obligations | 3 | 1.5 | ||||||
Treasury Instruments | 3 | 1.5 | ||||||
Government | 5 | 1.5 | ||||||
Federal | 3 | 1.5 | ||||||
Tax-Free Money Market | 5 | 1.5 | ||||||
The fee waivers can be modified or terminated in the future upon notice to the Board and without shareholder approval.
At June 30, 2005, the amounts owed to affiliates were as follows (in thousands):
Affiliated | ||||||||||||
Fund | Management | Dealers | Total | |||||||||
Prime Obligations | $ | 3,283 | $ | 3 | $ | 3,286 | ||||||
Money Market | 1,681 | 5 | 1,686 | |||||||||
Treasury Obligations | 696 | — | 696 | |||||||||
Treasury Instruments | 318 | — | 318 | |||||||||
Government | 517 | — | 517 | |||||||||
Federal | 1,196 | — | 1,196 | |||||||||
Tax-Free Money Market | 1,115 | — | 1,115 | |||||||||
4. Select, Preferred, Capital, Administration and Service Plans
5. Line of Credit Facility
6. Portfolio Concentrations
7. Other Matters
Legal Proceedings— Purported class and derivative action lawsuits were filed in April and May 2004 in the United States District Court for the Southern District of New York against the Goldman Sachs Group, Inc. (“GSG”), GSAM and certain related parties, including certain Goldman Sachs Funds and the Trustees and Officers of the Goldman Sachs Trust (the “GS Trust”). In June 2004 these lawsuits were consolidated into one action and in November 2004 a consolidated and amended complaint was filed against GSG, GSAM, Goldman Sachs Asset Management International (“GSAMI”), Goldman Sachs and certain related parties including certain Goldman Sachs Funds and the Trustees and Officers of the Trust and the GS Trust. Certain investment portfolios of the GS Trust were named as nominal defendants in the amended complaint. The amended complaint alleges violations of the Act and the Investment Advisers Act of 1940. The consolidated and amended complaint also asserts claims involving common law breach of fiduciary duty and unjust enrichment. The consolidated and amended complaint alleges, among other things, that between April 2, 1999 and January 9, 2004 (the ‘Class Period)”, GSAM and other defendants made improper and excessive brokerage commission and other payments to brokers that sold shares of the Goldman Sachs Funds; and omitted statements of fact in registration statements and reports filed pursuant to the Act which were necessary to prevent such registration statements and reports from being materially false and misleading. The consolidated and amended complaint further alleges that the Goldman Sachs Funds paid excessive and improper advisory fees to Goldman Sachs. The consolidated and amended complaint also alleges that GSAM and GSAMI used 12b-1 fees for improper purposes and made improper use of soft dollars. The complaint further alleges that the Trust and the GS Trust’s officers and trustees breached their fiduciary duties in connection with the foregoing. In addition, in March 2005 Jeanne and Don Masden filed a purported class action lawsuit in the United States District Court for the Southern District of New York against GSG, GSAM, Goldman Sachs, the Trustees of the GS Trust, the GS Trust, and certain related parties. The lawsuit amends a previously-filed complaint, and alleges breaches of fiduciary duties and duties of care owed under federal and state law resulting from a failure to ensure that equity securities held by the Goldman Sachs Funds participated in class action settlements for which they were eligible. Plaintiffs seek compensatory damages, disgorgement of the fees paid to the
Mergers and Reorganizations— At a meeting held on August 5, 2004, the Board of Trustees of the Trust approved an Agreement and Plan of Reorganization (“the Agreement”) providing for the tax-free acquisition of the Golden Oak Prime Obligation Money Market Portfolio by the Goldman Sachs Financial Square Prime Obligations Fund. The acquisition was completed on September 28, 2004.
Acquired | |||||||||||||
Fund’s | |||||||||||||
Shares | |||||||||||||
Exchanged | Outstanding | ||||||||||||
Shares of | Value of | as of | |||||||||||
Survivor | Exchanged | September 28, | |||||||||||
Survivor/Acquired Fund | Issued | Shares | 2004 | ||||||||||
Goldman Sachs Financial Square Prime Obligations FST Shares/ | |||||||||||||
Golden Oak Prime Obligation Money Market Institutional Class | 108,682,365 | $ | 108,682,365 | 108,682,365 | |||||||||
Goldman Sachs Financial Square Prime Obligations FST Administration Shares/ | |||||||||||||
Golden Oak Prime Obligation Money Market Administration Class | 9,893,697 | $ | 9,893,697 | 9,893,697 | |||||||||
The following chart shows the Survivor Fund’s and Acquired Fund’s aggregate net assets (immediately before and after the completion of the acquisition).
Survivor | |||||||||||||
Survivor | Acquired | Fund’s | |||||||||||
Fund’s | Fund’s | Aggregate | |||||||||||
Aggregate | Aggregate | Net Assets | |||||||||||
Net Assets | Net Assets | immediately | |||||||||||
before | before | after | |||||||||||
Survivor/Acquired Fund | acquisition | acquisition | acquisition | ||||||||||
Goldman Sachs Financial Square Prime Obligations/ | |||||||||||||
Golden Oak Prime Obligation Money Market | $ | 23,861,383,951 | $ | 118,576,062 | $ | 23,979,960,013 | |||||||
At a meeting held on November 4, 2004, the Board of Trustees of the Trust approved an Agreement and Plan of Reorganization (“the Agreement”) providing for the tax-free acquisition of the Expedition Money Market and Tax-Free Money Market Funds into the Goldman Sachs Financial Square Prime Obligation and Tax-Free Money Market Funds. The acquisition was completed on February 28, 2005.
Acquired | |||||||||||||
Fund’s | |||||||||||||
Shares | |||||||||||||
Exchanged | Outstanding | ||||||||||||
Shares of | Value of | as of | |||||||||||
Survivor | Exchanged | February 25, | |||||||||||
Survivor/Acquired Fund | Issued | Shares | 2005 | ||||||||||
Goldman Sachs Financial Square Prime Obligation FST Administration Class/ | |||||||||||||
Expedition Money Market Institutional Class | 27,956,937 | $ | 27,956,937 | 27,956,937 | |||||||||
Goldman Sachs Financial Square Prime Obligation FST Service Class/ | |||||||||||||
Expedition Money Market Investment Service Class | 143,924,508 | $ | 143,924,508 | 143,924,508 | |||||||||
Goldman Sachs Financial Square Tax-Free Money Market FST Administration Class/ | |||||||||||||
Expedition Tax-Free Money Market Institutional Class | 5,198,906 | $ | 5,198,906 | 5,198,906 | |||||||||
Goldman Sachs Financial Square Tax-Free Money Market FST Service Class/ | |||||||||||||
Expedition Tax-Free Money Market Investment Service Class | 70,176,189 | $ | 70,176,189 | 70,176,189 | |||||||||
The following chart shows the Survivor Fund’s and Acquired Fund’s aggregate net assets (immediately before and after the completion of the acquisition).
Survivor | |||||||||||||
Survivor | Acquired | Fund’s | |||||||||||
Fund’s | Fund’s | Aggregate | |||||||||||
Aggregate | Aggregate | Net Assets | |||||||||||
Net Assets | Net Assets | immediately | |||||||||||
before | before | after | |||||||||||
Survivor/Acquired Fund | acquisition | acquisition | acquisition | ||||||||||
Goldman Sachs Financial Square Prime Obligation/ | |||||||||||||
Expedition Money Market | $ | 26,253,114,104 | $ | 171,881,446 | $ | 26,424,995,550 | |||||||
Goldman Sachs Financial Square Tax-Free Money Market/ | |||||||||||||
Expedition Tax-Free Money Market | $ | 8,370,503,410 | $ | 75,375,094 | $ | 8,445,878,505 | |||||||
8. Summary of Share Transactions (at $1.00 per share)
Prime Obligations Fund | ||||||||
For the | ||||||||
Six Months Ended | For the | |||||||
June 30, 2005 | Year Ended | |||||||
(Unaudited) | December 31, 2004 | |||||||
FST Shares: | ||||||||
Shares sold | 74,143,052,820 | 149,415,996,379 | ||||||
Shares issued in connection with the merger | — | 108,682,365 | ||||||
Reinvestment of dividends and distributions | 80,115,867 | 80,817,800 | ||||||
Shares repurchased | (73,210,112,391 | ) | (156,374,272,445 | ) | ||||
1,013,056,296 | (6,768,775,901 | ) | ||||||
FST Select Shares: | ||||||||
Shares sold | 755,704,276 | 1,970,685,984 | ||||||
Reinvestment of dividends and distributions | 891,308 | 1,062,505 | ||||||
Shares repurchased | (773,164,903 | ) | (1,944,969,503 | ) | ||||
(16,569,319 | ) | 26,778,986 | ||||||
FST Preferred Shares: | ||||||||
Shares sold | 8,209,636,507 | 14,113,619,114 | ||||||
Reinvestment of dividends and distributions | 11,671,902 | 11,593,336 | ||||||
Shares repurchased | (8,266,292,473 | ) | (14,140,620,108 | ) | ||||
(44,984,064 | ) | (15,407,658 | ) | |||||
FST Capital Shares: | ||||||||
Shares sold | 1,662,183,627 | 3,389,819,750 | ||||||
Reinvestment of dividends and distributions | 881,958 | 830,793 | ||||||
Shares repurchased | (1,665,518,634 | ) | (3,488,186,721 | ) | ||||
(2,453,049 | ) | (97,536,178 | ) | |||||
FST Administration Shares: | ||||||||
Shares sold | 8,672,090,816 | 21,608,109,850 | ||||||
Shares issued in connection with the merger | — | 9,893,697 | ||||||
Reinvestment of dividends and distributions | 6,500,094 | 6,244,247 | ||||||
Shares repurchased | (8,438,340,491 | ) | (21,939,474,763 | ) | ||||
240,250,419 | (315,226,969 | ) | ||||||
FST Service Shares: | ||||||||
Shares sold | 4,702,105,145 | 8,128,016,673 | ||||||
Reinvestment of dividends and distributions | 5,111,017 | 3,535,234 | ||||||
Shares repurchased | (4,564,004,662 | ) | (7,892,205,042 | ) | ||||
143,211,500 | 239,346,865 | |||||||
Net increase (decrease) in shares | 1,332,511,783 | (6,930,820,855 | ) | |||||
Money Market Fund | Treasury Obligations Fund | Treasury Instruments Fund | ||||||||||||||||||||||
For the | For the | For the | ||||||||||||||||||||||
Six Months Ended | For the | Six Months Ended | For the | Six Months Ended | For the | |||||||||||||||||||
June 30, 2005 | Year Ended | June 30, 2005 | Year Ended | June 30, 2005 | Year Ended | |||||||||||||||||||
(Unaudited) | December 31, 2004 | (Unaudited) | December 31, 2004 | (Unaudited) | December 31, 2004 | |||||||||||||||||||
31,944,634,883 | 46,393,669,794 | 6,133,470,251 | 10,166,558,155 | 4,474,644,351 | 6,973,922,693 | |||||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||||
78,896,181 | 58,643,025 | 7,809,896 | 9,290,243 | 5,701,793 | 2,745,806 | |||||||||||||||||||
(30,473,648,943 | ) | (47,632,216,284 | ) | (6,999,460,791 | ) | (9,613,247,054 | ) | (4,420,431,474 | ) | (6,383,621,751 | ) | |||||||||||||
1,549,882,121 | (1,179,903,465 | ) | (858,180,644 | ) | 562,601,344 | 59,914,670 | 593,046,748 | |||||||||||||||||
420,458,348 | 253,161,352 | — | 11,900,000 | — | 7,563,069 | |||||||||||||||||||
1,242,713 | 449,569 | 15 | 20,156 | 752 | 843 | |||||||||||||||||||
(301,466,552 | ) | (321,798,210 | ) | (981 | ) | (21,431,118 | ) | — | (7,500,277 | ) | ||||||||||||||
120,234,509 | (68,187,289 | ) | (966 | ) | (9,510,962 | ) | 752 | 63,635 | ||||||||||||||||
1,299,887,307 | 818,442,242 | 1,245,916,308 | 1,919,911,721 | 59,810,756 | 416,577,756 | |||||||||||||||||||
1,497,666 | 1,344,407 | 403,295 | 300,025 | 114,876 | 94,547 | |||||||||||||||||||
(1,228,351,896 | ) | (862,840,235 | ) | (1,257,229,482 | ) | (1,927,894,737 | ) | (386,151,292 | ) | (51,778,987 | ) | |||||||||||||
73,033,077 | (43,053,586 | ) | (10,909,879 | ) | (7,682,991 | ) | (326,225,660 | ) | 364,893,316 | |||||||||||||||
12,141,065 | 278,191,169 | 8,173,750 | 9,148,174 | 27,100,856 | 80,530,513 | |||||||||||||||||||
206,414 | 321,303 | 20,591 | 9,630 | 222,390 | 221,680 | |||||||||||||||||||
(6,349,782 | ) | (289,718,321 | ) | (8,010,946 | ) | (19,100,000 | ) | (35,725,694 | ) | (86,378,621 | ) | |||||||||||||
5,997,697 | (11,205,849 | ) | 183,395 | (9,942,196 | ) | (8,402,448 | ) | (5,626,428 | ) | |||||||||||||||
3,047,525,866 | 4,687,922,615 | 6,316,356,836 | 14,596,691,379 | 1,180,775,612 | 1,501,060,807 | |||||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||||
4,777,937 | 2,427,464 | 1,362,641 | 1,360,373 | 241,280 | 171,197 | |||||||||||||||||||
(3,055,460,302 | ) | (4,511,430,547 | ) | (6,169,898,909 | ) | (14,215,764,003 | ) | (988,008,212 | ) | (1,452,069,341 | ) | |||||||||||||
(3,156,499 | ) | 178,919,532 | 147,820,568 | 382,287,749 | 193,008,680 | 49,162,663 | ||||||||||||||||||
385,252,366 | 815,146,781 | 2,421,009,535 | 4,102,373,288 | 539,048,811 | 663,762,184 | |||||||||||||||||||
1,861,191 | 1,221,768 | 5,098,278 | 2,661,580 | 330,426 | 194,475 | |||||||||||||||||||
(372,805,601 | ) | (834,938,656 | ) | (2,343,949,656 | ) | (3,991,034,762 | ) | (531,428,044 | ) | (675,361,823 | ) | |||||||||||||
14,307,956 | (18,570,107 | ) | 82,158,157 | 114,000,106 | 7,951,193 | (11,405,164 | ) | |||||||||||||||||
1,708,398,861 | (1,142,000,764 | ) | (638,929,369 | ) | 1,031,753,050 | (73,752,813 | ) | 990,134,770 | ||||||||||||||||
8. Summary of Share Transactions (at $1.00 per share) (continued)
Government Fund | ||||||||
For the | ||||||||
Six Months Ended | For the | |||||||
June 30, 2005 | Year Ended | |||||||
(Unaudited) | December 31, 2004 | |||||||
FST Shares: | ||||||||
Shares sold | 7,086,946,813 | 14,573,907,886 | ||||||
Shares issued in connection with the merger | — | — | ||||||
Reinvestment of dividends and distributions | 12,964,409 | 10,863,417 | ||||||
Shares repurchased | (7,678,742,091 | ) | (14,103,872,859 | ) | ||||
(578,830,869 | ) | 480,898,444 | ||||||
FST Select Shares: | ||||||||
Shares sold | 1,057,326,422 | 1,473,179,340 | ||||||
Reinvestment of dividends and distributions | 1,920,458 | 1,282,323 | ||||||
Shares repurchased | (1,099,838,809 | ) | (1,446,204,407 | ) | ||||
(40,591,929 | ) | 28,257,256 | ||||||
FST Preferred Shares: | ||||||||
Shares sold | 2,575,727,416 | 3,019,180,291 | ||||||
Reinvestment of dividends and distributions | 2,433,104 | 2,536,735 | ||||||
Shares repurchased | (2,568,539,982 | ) | (2,824,701,648 | ) | ||||
9,620,538 | 197,015,378 | |||||||
FST Capital Shares: | ||||||||
Shares sold | 2,218,814,513 | 4,218,956,832 | ||||||
Reinvestment of dividends and distributions | 902,557 | 476,523 | ||||||
Shares repurchased | (2,212,744,859 | ) | (4,241,408,195 | ) | ||||
6,972,211 | (21,974,840 | ) | ||||||
FST Administration Shares: | ||||||||
Shares sold | 2,580,540,317 | 5,969,286,537 | ||||||
Shares issued in connection with the merger | — | — | ||||||
Reinvestment of dividends and distributions | 2,845,368 | 2,443,953 | ||||||
Shares repurchased | (2,796,258,694 | ) | (5,833,706,630 | ) | ||||
(212,873,009 | ) | 138,023,860 | ||||||
FST Service Shares: | ||||||||
Shares sold | 891,129,720 | 1,835,891,966 | ||||||
Reinvestment of dividends and distributions | 989,306 | 721,998 | ||||||
Shares repurchased | (932,401,051 | ) | (1,793,168,322 | ) | ||||
(40,282,025 | ) | 43,445,642 | ||||||
Net increase (decrease) in shares | (855,985,083 | ) | 865,665,740 | |||||
Federal Fund | Tax-Free Money Market Fund | |||||||||||||||
For the | For the | |||||||||||||||
Six Months Ended | For the | Six Months Ended | For the | |||||||||||||
June 30, 2005 | Year Ended | June 30, 2005 | Year Ended | |||||||||||||
(Unaudited) | December 31, 2004 | (Unaudited) | December 31, 2004 | |||||||||||||
15,948,288,038 | 25,756,264,216 | 23,004,111,926 | 41,750,864,583 | |||||||||||||
— | — | — | — | |||||||||||||
57,078,270 | 58,651,227 | 49,833,898 | 52,374,661 | |||||||||||||
(16,619,269,781 | ) | (25,554,342,356 | ) | (23,936,619,291 | ) | (40,829,163,690 | ) | |||||||||
(613,903,473 | ) | 260,573,087 | (882,673,467 | ) | 974,075,554 | |||||||||||
— | 34 | 209,011,498 | 644,350,588 | |||||||||||||
38 | 35 | 465,101 | 559,889 | |||||||||||||
— | (16,251 | ) | (275,756,224 | ) | (560,247,084 | ) | ||||||||||
38 | (16,182 | ) | (66,279,625 | ) | 84,663,393 | |||||||||||
109,056,036 | 736,373,293 | 469,057,829 | 678,274,393 | |||||||||||||
279,845 | 180,974 | 375,620 | 272,918 | |||||||||||||
(87,358,191 | ) | (803,880,638 | ) | (404,628,628 | ) | (696,441,417 | ) | |||||||||
21,977,690 | (67,326,371 | ) | 64,804,821 | (17,894,106 | ) | |||||||||||
— | — | 194,746,991 | 113,077,484 | |||||||||||||
43,656 | 39,598 | 325,126 | 85,674 | |||||||||||||
(135,000 | ) | (965,000 | ) | (153,141,130 | ) | (83,347,160 | ) | |||||||||
(91,344 | ) | (925,402 | ) | 41,930,987 | 29,815,998 | |||||||||||
1,577,097,167 | 2,647,893,579 | 557,611,397 | 889,592,449 | |||||||||||||
— | — | — | — | |||||||||||||
1,908,926 | 1,669,472 | 387,886 | 477,059 | |||||||||||||
(1,718,921,437 | ) | (2,390,260,155 | ) | (561,110,812 | ) | (817,758,779 | ) | |||||||||
(139,915,344 | ) | 259,302,896 | (3,111,529 | ) | 72,310,729 | |||||||||||
1,969,557,906 | 3,517,469,663 | 477,904,714 | 646,071,781 | |||||||||||||
2,267,747 | 1,621,434 | 245,418 | 175,131 | |||||||||||||
(1,976,121,608 | ) | (3,540,235,892 | ) | (418,439,550 | ) | (620,728,322 | ) | |||||||||
(4,295,955 | ) | (21,144,795 | ) | 59,710,582 | 25,518,590 | |||||||||||
(736,228,388 | ) | 430,463,233 | (785,618,231 | ) | 1,168,490,158 | |||||||||||
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Net asset | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
Year—Share | beginning | investment | to | end | Total | of period | average net | average net | average net | average net | ||||||||||||||||||||||||||||||
Class | of period | income(a) | shareholders | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005-FST Shares | $ | 1.00 | $ | 0.013 | $ | (0.013 | ) | $ | 1.00 | 1.29 | % | $ | 16,994,790 | 0.18 | %(c) | 2.58 | %(c) | 0.22 | %(c) | 2.54 | %(c) | |||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.013 | (0.013 | ) | 1.00 | 1.27 | 64,069 | 0.21 | (c) | 2.51 | (c) | 0.25 | (c) | 2.47 | (c) | |||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.24 | 1,367,579 | 0.28 | (c) | 2.47 | (c) | 0.32 | (c) | 2.43 | (c) | |||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.21 | 239,353 | 0.33 | (c) | 2.43 | (c) | 0.37 | (c) | 2.39 | (c) | |||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.16 | 3,005,803 | 0.43 | (c) | 2.35 | (c) | 0.47 | (c) | 2.31 | (c) | |||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.04 | 1,255,011 | 0.68 | (c) | 2.10 | (c) | 0.72 | (c) | 2.06 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004-FST Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.25 | 15,981,734 | 0.18 | 1.22 | 0.22 | 1.18 | |||||||||||||||||||||||||||||
2004-FST Select Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.22 | 80,638 | 0.21 | 1.18 | 0.25 | 1.14 | |||||||||||||||||||||||||||||
2004-FST Preferred Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.15 | 1,412,563 | 0.28 | 1.13 | 0.32 | 1.09 | |||||||||||||||||||||||||||||
2004-FST Capital Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.10 | 241,806 | 0.33 | 1.07 | 0.37 | 1.03 | |||||||||||||||||||||||||||||
2004-FST Administration Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.00 | 2,765,553 | 0.43 | 0.99 | 0.47 | 0.95 | |||||||||||||||||||||||||||||
2004-FST Service Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.75 | 1,111,799 | 0.68 | 0.75 | 0.72 | 0.71 | |||||||||||||||||||||||||||||
2003-FST Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.06 | 22,750,510 | 0.18 | 1.07 | 0.22 | 1.03 | |||||||||||||||||||||||||||||
2003-FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.03 | 53,859 | 0.21 | 1.06 | 0.25 | 1.02 | |||||||||||||||||||||||||||||
2003-FST Preferred Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.96 | 1,427,970 | 0.28 | 0.96 | 0.32 | 0.92 | |||||||||||||||||||||||||||||
2003-FST Capital Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.91 | 339,342 | 0.33 | 0.94 | 0.37 | 0.90 | |||||||||||||||||||||||||||||
2003-FST Administration Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.81 | 3,080,780 | 0.43 | 0.80 | 0.47 | 0.76 | |||||||||||||||||||||||||||||
2003-FST Service Shares | 1.00 | 0.006 | (0.006 | ) | 1.00 | 0.56 | 872,453 | 0.68 | 0.56 | 0.72 | 0.52 | |||||||||||||||||||||||||||||
2002-FST Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.75 | 22,565,712 | 0.18 | 1.74 | 0.22 | 1.70 | ||||||||||||||||||||||||||||||
2002-FST Select Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.72 | 195,777 | 0.21 | 1.70 | 0.25 | 1.66 | ||||||||||||||||||||||||||||||
2002-FST Preferred Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.65 | 2,352,326 | 0.28 | 1.60 | 0.32 | 1.56 | ||||||||||||||||||||||||||||||
2002-FST Capital Shares (commenced August 12) | 1.00 | 0.01 | (0.01) | 1.00 | 0.56 | 428,694 | 0.33 | (c) | 1.29 | (c) | 0.37 | (c) | 1.25 | (c) | ||||||||||||||||||||||||||
2002-FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.50 | 2,927,767 | 0.43 | 1.48 | 0.47 | 1.44 | ||||||||||||||||||||||||||||||
2002-FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.24 | 1,073,295 | 0.68 | 1.24 | 0.72 | 1.20 | ||||||||||||||||||||||||||||||
2001-FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.15 | 25,429,443 | 0.18 | 3.87 | 0.23 | 3.82 | ||||||||||||||||||||||||||||||
2001-FST Select Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.12 | 189,492 | 0.21 | 3.41 | 0.26 | 3.36 | ||||||||||||||||||||||||||||||
2001-FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.05 | 1,003,414 | 0.28 | 3.72 | 0.33 | 3.67 | ||||||||||||||||||||||||||||||
2001-FST Administration Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.89 | 2,803,798 | 0.43 | 3.64 | 0.48 | 3.59 | ||||||||||||||||||||||||||||||
2001-FST Service Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.63 | 1,225,547 | 0.68 | 3.46 | 0.73 | 3.41 | ||||||||||||||||||||||||||||||
2000-FST Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.44 | 12,777,000 | 0.18 | 6.32 | 0.22 | 6.28 | ||||||||||||||||||||||||||||||
2000-FST Select Shares (commenced January 31) | 1.00 | 0.06 | (0.06) | 1.00 | 5.93 | 70,819 | 0.21 | (c) | 6.48 | (c) | 0.25 | (c) | 6.44 | (c) | ||||||||||||||||||||||||||
2000-FST Preferred Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.34 | 454,883 | 0.28 | 6.21 | 0.32 | 6.17 | ||||||||||||||||||||||||||||||
2000-FST Administration Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.18 | 2,084,745 | 0.43 | 6.09 | 0.47 | 6.05 | ||||||||||||||||||||||||||||||
2000-FST Service Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.91 | 1,005,373 | 0.68 | 5.81 | 0.72 | 5.77 | ||||||||||||||||||||||||||||||
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Net asset | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | to | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | shareholders | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005-FST Shares | $ | 1.00 | $ | 0.013 | $ | (0.013 | ) | $ | 1.00 | 1.30 | % | $ | 10,759,291 | 0.18 | %(c) | 2.60 | %(c) | 0.22 | %(c) | 2.56 | %(c) | |||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.013 | (0.013 | ) | 1.00 | 1.28 | 145,085 | 0.21 | (c) | 2.70 | (c) | 0.25 | (c) | 2.66 | (c) | |||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.013 | (0.013 | ) | 1.00 | 1.25 | 143,279 | 0.28 | (c) | 2.57 | (c) | 0.32 | (c) | 2.53 | (c) | |||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.22 | 18,972 | 0.33 | (c) | 2.47 | (c) | 0.37 | (c) | 2.43 | (c) | |||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.17 | 623,053 | 0.43 | (c) | 2.36 | (c) | 0.47 | (c) | 2.32 | (c) | |||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.05 | 300,284 | 0.68 | (c) | 2.10 | (c) | 0.72 | (c) | 2.06 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004-FST Shares | 1.00 | 0.013 | (0.013 | ) | 1.00 | 1.26 | 9,209,408 | 0.18 | 1.25 | 0.22 | 1.21 | |||||||||||||||||||||||||||||
2004-FST Select Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.23 | 24,850 | 0.21 | 1.22 | 0.25 | 1.18 | |||||||||||||||||||||||||||||
2004-FST Preferred Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.16 | 70,246 | 0.28 | 1.14 | 0.32 | 1.10 | |||||||||||||||||||||||||||||
2004-FST Capital Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.11 | 12,975 | 0.33 | 0.98 | 0.37 | 0.94 | |||||||||||||||||||||||||||||
2004-FST Administration Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.01 | 626,210 | 0.43 | 1.05 | 0.47 | 1.01 | |||||||||||||||||||||||||||||
2004-FST Service Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.76 | 285,976 | 0.68 | 0.75 | 0.72 | 0.71 | |||||||||||||||||||||||||||||
2003-FST Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.06 | 10,389,312 | 0.18 | 1.07 | 0.22 | 1.03 | |||||||||||||||||||||||||||||
2003-FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.03 | 93,038 | 0.21 | 1.03 | 0.25 | 0.99 | |||||||||||||||||||||||||||||
2003-FST Preferred Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.96 | 113,299 | 0.28 | 0.98 | 0.32 | 0.94 | |||||||||||||||||||||||||||||
2003-FST Capital Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.91 | 24,180 | 0.33 | 0.85 | 0.37 | 0.81 | |||||||||||||||||||||||||||||
2003-FST Administration Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.81 | 447,290 | 0.43 | 0.81 | 0.47 | 0.77 | |||||||||||||||||||||||||||||
2003-FST Service Shares | 1.00 | 0.006 | (0.006 | ) | 1.00 | 0.56 | 304,547 | 0.68 | 0.57 | 0.72 | 0.53 | |||||||||||||||||||||||||||||
2002-FST Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.75 | 9,194,848 | 0.18 | 1.76 | 0.22 | 1.72 | ||||||||||||||||||||||||||||||
2002-FST Select Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.72 | 2,746 | 0.21 | 1.81 | 0.25 | 1.77 | ||||||||||||||||||||||||||||||
2002-FST Preferred Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.65 | 176,679 | 0.28 | 1.62 | 0.32 | 1.58 | ||||||||||||||||||||||||||||||
2002-FST Capital Shares (commenced August 12) | 1.00 | 0.01 | (0.01) | 1.00 | 0.56 | 1 | 0.33 | (c) | 1.73 | (c) | 0.37 | (c) | 1.69 | (c) | ||||||||||||||||||||||||||
2002-FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.50 | 480,359 | 0.43 | 1.50 | 0.47 | 1.46 | ||||||||||||||||||||||||||||||
2002-FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.24 | 408,993 | 0.68 | 1.24 | 0.72 | 1.20 | ||||||||||||||||||||||||||||||
2001-FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.16 | 15,909,394 | 0.18 | 3.74 | 0.23 | 3.69 | ||||||||||||||||||||||||||||||
2001-FST Select Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.13 | 301,797 | 0.21 | 3.79 | 0.26 | 3.74 | ||||||||||||||||||||||||||||||
2001-FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.06 | 194,015 | 0.28 | 4.22 | 0.33 | 4.17 | ||||||||||||||||||||||||||||||
2001-FST Administration Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.91 | 645,588 | 0.43 | 3.72 | 0.48 | 3.67 | ||||||||||||||||||||||||||||||
2001-FST Service Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.65 | 492,794 | 0.68 | 3.52 | 0.73 | 3.47 | ||||||||||||||||||||||||||||||
2000-FST Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.44 | 5,954,862 | 0.18 | 6.25 | 0.22 | 6.21 | ||||||||||||||||||||||||||||||
2000-FST Select Shares (commenced January 31) | 1.00 | 0.06 | (0.06) | 1.00 | 5.93 | 22,595 | 0.21 | (c) | 6.41 | (c) | 0.25 | (c) | 6.37 | (c) | ||||||||||||||||||||||||||
2000-FST Preferred Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.34 | 163,779 | 0.28 | 6.11 | 0.32 | 6.07 | ||||||||||||||||||||||||||||||
2000-FST Administration Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.18 | 421,498 | 0.43 | 6.02 | 0.47 | 5.98 | ||||||||||||||||||||||||||||||
2000-FST Service Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.92 | 396,927 | 0.68 | 5.78 | 0.72 | 5.74 | ||||||||||||||||||||||||||||||
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Net asset | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | to | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | shareholders | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005-FST Shares | $ | 1.00 | $ | 0.012 | $ | (0.012 | ) | $ | 1.00 | 1.22 | % | $ | 1,404,437 | 0.20 | %(c) | 2.46 | %(c) | 0.22 | %(c) | 2.44 | %(c) | |||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.20 | 1 | 0.23 | (c) | 2.37 | (c) | 0.25 | (c) | 2.35 | (c) | |||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.17 | 482,638 | 0.30 | (c) | 2.37 | (c) | 0.32 | (c) | 2.35 | (c) | |||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.14 | 1,221 | 0.35 | (c) | 2.31 | (c) | 0.37 | (c) | 2.29 | (c) | |||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.09 | 1,729,471 | 0.45 | (c) | 2.23 | (c) | 0.47 | (c) | 2.21 | (c) | |||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.97 | 758,452 | 0.70 | (c) | 1.99 | (c) | 0.72 | (c) | 1.97 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004-FST Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.14 | 2,262,617 | 0.20 | 1.16 | 0.22 | 1.14 | |||||||||||||||||||||||||||||
2004-FST Select Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.11 | 2 | 0.23 | 0.82 | 0.25 | 0.80 | |||||||||||||||||||||||||||||
2004-FST Preferred Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.04 | 493,548 | 0.30 | 1.04 | 0.32 | 1.02 | |||||||||||||||||||||||||||||
2004-FST Capital Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.99 | 1,038 | 0.35 | 0.77 | 0.37 | 0.75 | |||||||||||||||||||||||||||||
2004-FST Administration Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.89 | 1,581,650 | 0.45 | 0.90 | 0.47 | 0.88 | |||||||||||||||||||||||||||||
2004-FST Service Shares | 1.00 | 0.006 | (0.006 | ) | 1.00 | 0.64 | 676,295 | 0.70 | 0.67 | 0.72 | 0.65 | |||||||||||||||||||||||||||||
2003-FST Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.96 | 1,700,016 | 0.20 | 0.92 | 0.22 | 0.90 | |||||||||||||||||||||||||||||
2003-FST Select Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.93 | 9,513 | 0.23 | 0.88 | 0.25 | 0.86 | |||||||||||||||||||||||||||||
2003-FST Preferred Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.86 | 501,231 | 0.30 | 0.82 | 0.32 | 0.80 | |||||||||||||||||||||||||||||
2003-FST Capital Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.81 | 10,980 | 0.35 | 0.72 | 0.37 | 0.70 | |||||||||||||||||||||||||||||
2003-FST Administration Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.71 | 1,199,363 | 0.45 | 0.67 | 0.47 | 0.65 | |||||||||||||||||||||||||||||
2003-FST Service Shares | 1.00 | 0.005 | (0.005 | ) | 1.00 | 0.46 | 562,294 | 0.70 | 0.44 | 0.72 | 0.42 | |||||||||||||||||||||||||||||
2002-FST Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.65 | 2,267,428 | 0.20 | 1.58 | 0.22 | 1.56 | ||||||||||||||||||||||||||||||
2002-FST Select Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.62 | 66,438 | 0.23 | 1.53 | 0.25 | 1.51 | ||||||||||||||||||||||||||||||
2002-FST Preferred Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.55 | 838,498 | 0.30 | 1.44 | 0.32 | 1.42 | ||||||||||||||||||||||||||||||
2002-FST Capital Shares (commenced August 12) | 1.00 | 0.01 | (0.01) | 1.00 | 0.53 | 1 | 0.35 | (c) | 1.38 | (c) | 0.37 | (c) | 1.36 | (c) | ||||||||||||||||||||||||||
2002-FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.40 | 1,396,765 | 0.45 | 1.31 | 0.47 | 1.29 | ||||||||||||||||||||||||||||||
2002-FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.15 | 933,190 | 0.70 | 1.06 | 0.72 | 1.04 | ||||||||||||||||||||||||||||||
2001-FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.87 | 3,985,276 | 0.20 | 3.66 | 0.23 | 3.63 | ||||||||||||||||||||||||||||||
2001-FST Select Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.83 | 70,040 | 0.23 | 1.83 | 0.26 | 1.80 | ||||||||||||||||||||||||||||||
2001-FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.76 | 205,440 | 0.30 | 4.06 | 0.33 | 4.03 | ||||||||||||||||||||||||||||||
2001-FST Administration Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.61 | 1,515,737 | 0.45 | 3.54 | 0.48 | 3.51 | ||||||||||||||||||||||||||||||
2001-FST Service Shares | 1.00 | 0.03 | (0.03) | 1.00 | 3.35 | 1,155,241 | 0.70 | 3.09 | 0.73 | 3.06 | ||||||||||||||||||||||||||||||
2000-FST Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.18 | 2,493,450 | 0.18 | 6.04 | 0.23 | 5.99 | ||||||||||||||||||||||||||||||
2000-FST Select Shares (commenced January 31) | 1.00 | 0.06 | (0.06) | 1.00 | 5.75 | 1 | 0.21 | (c) | 6.33 | (c) | 0.26 | (c) | 6.28 | (c) | ||||||||||||||||||||||||||
2000-FST Preferred Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.08 | 271,388 | 0.28 | 5.95 | 0.33 | 5.90 | ||||||||||||||||||||||||||||||
2000-FST Administration Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.92 | 1,379,728 | 0.43 | 5.83 | 0.48 | 5.78 | ||||||||||||||||||||||||||||||
2000-FST Service Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.66 | 676,118 | 0.68 | 5.55 | 0.73 | 5.50 | ||||||||||||||||||||||||||||||
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Net asset | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | to | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | shareholders | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005-FST Shares | $ | 1.00 | $ | 0.012 | $ | (0.012 | ) | $ | 1.00 | 1.18 | % | $ | 1,458,708 | 0.20 | %(c) | 2.37 | %(c) | 0.23 | %(c) | 2.34 | %(c) | |||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.16 | 66 | 0.23 | (c) | 2.34 | (c) | 0.26 | (c) | 2.31 | (c) | |||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.13 | 46,720 | 0.30 | (c) | 2.13 | (c) | 0.33 | (c) | 2.10 | (c) | |||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.10 | 8,633 | 0.35 | (c) | 2.24 | (c) | 0.38 | (c) | 2.21 | (c) | |||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.05 | 429,857 | 0.45 | (c) | 2.14 | (c) | 0.48 | (c) | 2.11 | (c) | |||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.93 | 108,630 | 0.70 | (c) | 1.89 | (c) | 0.73 | (c) | 1.86 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004-FST Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.08 | 1,398,794 | 0.20 | 1.11 | 0.24 | 1.07 | |||||||||||||||||||||||||||||
2004-FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.05 | 65 | 0.23 | 1.27 | 0.27 | 1.23 | |||||||||||||||||||||||||||||
2004-FST Preferred Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.98 | 372,946 | 0.30 | 1.26 | 0.34 | 1.22 | |||||||||||||||||||||||||||||
2004-FST Capital Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.93 | 17,035 | 0.35 | 0.89 | 0.39 | 0.85 | |||||||||||||||||||||||||||||
2004-FST Administration Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.83 | 236,848 | 0.45 | 0.84 | 0.49 | 0.80 | |||||||||||||||||||||||||||||
2004-FST Service Shares | 1.00 | 0.006 | (0.006 | ) | 1.00 | 0.58 | 100,678 | 0.70 | 0.54 | 0.74 | 0.50 | |||||||||||||||||||||||||||||
2003-FST Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.89 | 805,747 | 0.20 | 0.84 | 0.25 | 0.79 | |||||||||||||||||||||||||||||
2003-FST Select Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.86 | 1 | 0.23 | 0.83 | 0.28 | 0.78 | |||||||||||||||||||||||||||||
2003-FST Preferred Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.79 | 8,053 | 0.30 | 0.77 | 0.35 | 0.72 | |||||||||||||||||||||||||||||
2003-FST Capital Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.74 | 22,662 | 0.35 | 0.70 | 0.40 | 0.65 | |||||||||||||||||||||||||||||
2003-FST Administration Shares | 1.00 | 0.006 | (0.006 | ) | 1.00 | 0.64 | 187,685 | 0.45 | 0.59 | 0.50 | 0.54 | |||||||||||||||||||||||||||||
2003-FST Service Shares | 1.00 | 0.004 | (0.004 | ) | 1.00 | 0.39 | 112,084 | 0.70 | 0.33 | 0.75 | 0.28 | |||||||||||||||||||||||||||||
2002-FST Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.57 | 971,035 | 0.20 | 1.47 | 0.25 | 1.42 | ||||||||||||||||||||||||||||||
2002-FST Select Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.54 | 5,004 | 0.23 | 1.76 | 0.28 | 1.71 | ||||||||||||||||||||||||||||||
2002-FST Preferred Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.47 | 28,674 | 0.30 | 1.39 | 0.35 | 1.34 | ||||||||||||||||||||||||||||||
2002-FST Capital Shares (commenced August 12) | 1.00 | 0.01 | (0.01) | 1.00 | 0.52 | 13,614 | 0.35 | (c) | 1.09 | (c) | 0.40 | (c) | 1.04 | (c) | ||||||||||||||||||||||||||
2002-FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.31 | 208,186 | 0.45 | 1.14 | 0.50 | 1.09 | ||||||||||||||||||||||||||||||
2002-FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.06 | 81,875 | 0.70 | 0.98 | 0.75 | 0.93 | ||||||||||||||||||||||||||||||
2001-FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.79 | 1,161,245 | 0.20 | 3.52 | 0.26 | 3.46 | ||||||||||||||||||||||||||||||
2001-FST Select Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.75 | 12,052 | 0.23 | 1.91 | 0.29 | 1.85 | ||||||||||||||||||||||||||||||
2001-FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.68 | 50,561 | 0.30 | 3.32 | 0.36 | 3.26 | ||||||||||||||||||||||||||||||
2001-FST Administration Shares | 1.00 | 0.03 | (0.03) | 1.00 | 3.53 | 117,089 | 0.45 | 3.22 | 0.51 | 3.16 | ||||||||||||||||||||||||||||||
2001-FST Service Shares | 1.00 | 0.03 | (0.03) | 1.00 | 3.27 | 115,500 | 0.70 | 3.01 | 0.76 | 2.95 | ||||||||||||||||||||||||||||||
2000-FST Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.90 | 734,427 | 0.18 | 5.80 | 0.28 | 5.70 | ||||||||||||||||||||||||||||||
2000-FST Select Shares (commenced January 31) | 1.00 | 0.05 | (0.05) | 1.00 | 5.44 | 1 | 0.21 | (c) | 5.85 | (c) | 0.31 | (c) | 5.75 | (c) | ||||||||||||||||||||||||||
2000-FST Preferred Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.79 | 2,380 | 0.28 | 5.67 | 0.38 | 5.57 | ||||||||||||||||||||||||||||||
2000-FST Administration Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.64 | 42,533 | 0.43 | 5.40 | 0.53 | 5.30 | ||||||||||||||||||||||||||||||
2000-FST Service Shares | 1.00 | 0.05 | (0.05) | 1.00 | 5.38 | 68,194 | 0.68 | 5.18 | 0.78 | 5.08 | ||||||||||||||||||||||||||||||
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Net asset | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | to | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | shareholders | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005 — FST Shares | $ | 1.00 | $ | 0.013 | $ | (0.013 | ) | $ | 1.00 | 1.27 | % | $ | 1,808,140 | 0.18 | %(c) | 2.55 | %(c) | 0.22 | %(c) | 2.51 | %(c) | |||||||||||||||||||
2005 — FST Select Shares | 1.00 | 0.013 | (0.013 | ) | 1.00 | 1.26 | 101,798 | 0.21 | (c) | 2.51 | (c) | 0.25 | (c) | 2.47 | (c) | |||||||||||||||||||||||||
2005 — FST Preferred Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.22 | 640,331 | 0.28 | (c) | 2.45 | (c) | 0.32 | (c) | 2.41 | (c) | |||||||||||||||||||||||||
2005 — FST Capital Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.20 | 102,413 | 0.33 | (c) | 2.44 | (c) | 0.37 | (c) | 2.40 | (c) | |||||||||||||||||||||||||
2005 — FST Administration Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.15 | 859,915 | 0.43 | (c) | 2.31 | (c) | 0.47 | (c) | 2.27 | (c) | |||||||||||||||||||||||||
2005 — FST Service Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.02 | 250,059 | 0.68 | (c) | 2.07 | (c) | 0.72 | (c) | 2.03 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004 — FST Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.23 | 2,386,970 | 0.18 | 1.27 | 0.22 | 1.23 | |||||||||||||||||||||||||||||
2004 — FST Select Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.20 | 142,390 | 0.21 | 1.21 | 0.25 | 1.17 | |||||||||||||||||||||||||||||
2004 — FST Preferred Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.13 | 630,711 | 0.28 | 1.15 | 0.32 | 1.11 | |||||||||||||||||||||||||||||
2004 — FST Capital Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.08 | 95,441 | 0.33 | 1.10 | 0.37 | 1.06 | |||||||||||||||||||||||||||||
2004 — FST Administration Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.98 | 1,072,788 | 0.43 | 0.99 | 0.47 | 0.95 | |||||||||||||||||||||||||||||
2004 — FST Service Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.73 | 290,341 | 0.68 | 0.72 | 0.72 | 0.68 | |||||||||||||||||||||||||||||
2003 — FST Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.04 | 1,906,071 | 0.18 | 1.05 | 0.22 | 1.01 | |||||||||||||||||||||||||||||
2003 — FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.01 | 114,133 | 0.21 | 1.02 | 0.25 | 0.98 | |||||||||||||||||||||||||||||
2003 — FST Preferred Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.94 | 433,695 | 0.28 | 0.96 | 0.32 | 0.92 | |||||||||||||||||||||||||||||
2003 — FST Capital Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.89 | 117,416 | 0.33 | 0.87 | 0.37 | 0.83 | |||||||||||||||||||||||||||||
2003 — FST Administration Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.79 | 934,764 | 0.43 | 0.78 | 0.47 | 0.74 | |||||||||||||||||||||||||||||
2003 — FST Service Shares | 1.00 | 0.005 | (0.005 | ) | 1.00 | 0.54 | 246,896 | 0.68 | 0.54 | 0.72 | 0.50 | |||||||||||||||||||||||||||||
2002 — FST Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.69 | 3,062,537 | 0.18 | 1.68 | 0.22 | 1.64 | ||||||||||||||||||||||||||||||
2002 — FST Select Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.66 | 243,398 | 0.21 | 1.60 | 0.25 | 1.56 | ||||||||||||||||||||||||||||||
2002 — FST Preferred Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.59 | 990,048 | 0.28 | 1.58 | 0.32 | 1.54 | ||||||||||||||||||||||||||||||
2002 — FST Capital Shares (commenced August 12) | 1.00 | 0.01 | (0.01) | 1.00 | 0.54 | 27,460 | 0.33 | (c) | 1.18 | (c) | 0.37 | (c) | 1.14 | (c) | ||||||||||||||||||||||||||
2002 — FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.44 | 944,400 | 0.43 | 1.40 | 0.47 | 1.36 | ||||||||||||||||||||||||||||||
2002 — FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.19 | 344,914 | 0.68 | 1.19 | 0.72 | 1.15 | ||||||||||||||||||||||||||||||
2001 — FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.09 | 4,201,586 | 0.18 | 3.76 | 0.24 | 3.70 | ||||||||||||||||||||||||||||||
2001 — FST Select Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.05 | 51,609 | 0.21 | 3.15 | 0.27 | 3.09 | ||||||||||||||||||||||||||||||
2001 — FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.98 | 850,943 | 0.28 | 3.68 | 0.34 | 3.62 | ||||||||||||||||||||||||||||||
2001 — FST Administration Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.83 | 1,169,694 | 0.43 | 3.52 | 0.49 | 3.46 | ||||||||||||||||||||||||||||||
2001 — FST Service Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.57 | 576,226 | 0.68 | 3.17 | 0.74 | 3.11 | ||||||||||||||||||||||||||||||
2000 — FST Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.31 | 1,859,266 | 0.18 | 6.14 | 0.23 | 6.09 | ||||||||||||||||||||||||||||||
2000 — FST Select Shares (commenced January 31) | 1.00 | 0.06 | (0.06) | 1.00 | 5.84 | 11,247 | 0.21 | (c) | 6.30 | (c) | 0.26 | (c) | 6.25 | (c) | ||||||||||||||||||||||||||
2000 — FST Preferred Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.21 | 361,111 | 0.28 | 6.19 | 0.33 | 6.14 | ||||||||||||||||||||||||||||||
2000 — FST Administration Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.05 | 595,037 | 0.43 | 5.93 | 0.48 | 5.88 | ||||||||||||||||||||||||||||||
2000 — FST Service Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.79 | 273,355 | 0.68 | 5.60 | 0.73 | 5.55 |
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Net asset | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | value, | end of | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | to | end | Total | period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | shareholders | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005-FST Shares | $ | 1.00 | $ | 0.012 | $ | (0.012 | ) | $ | 1.00 | 1.24 | % | $ | 6,722,709 | 0.20 | %(c) | 2.50 | %(c) | 0.22 | %(c) | 2.48 | %(c) | |||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.23 | 3 | 0.23 | (c) | 2.49 | (c) | 0.25 | (c) | 2.47 | (c) | |||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.19 | 63,288 | 0.30 | (c) | 2.41 | (c) | 0.32 | (c) | 2.39 | (c) | |||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.17 | 3,731 | 0.35 | (c) | 2.35 | (c) | 0.37 | (c) | 2.33 | (c) | |||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.12 | 539,134 | 0.45 | (c) | 2.24 | (c) | 0.47 | (c) | 2.22 | (c) | |||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.99 | 480,013 | 0.70 | (c) | 2.02 | (c) | 0.72 | (c) | 2.00 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004-FST Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.18 | 7,336,617 | 0.20 | 1.17 | 0.22 | 1.15 | |||||||||||||||||||||||||||||
2004-FST Select Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.15 | 3 | 0.23 | 0.98 | 0.25 | 0.96 | |||||||||||||||||||||||||||||
2004-FST Preferred Shares | 1.00 | 0.011 | (0.011 | ) | 1.00 | 1.08 | 41,311 | 0.30 | 1.03 | 0.32 | 1.01 | |||||||||||||||||||||||||||||
2004-FST Capital Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.03 | 3,823 | 0.35 | 1.01 | 0.37 | 0.99 | |||||||||||||||||||||||||||||
2004-FST Administration Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.93 | 679,050 | 0.45 | 1.00 | 0.47 | 0.98 | |||||||||||||||||||||||||||||
2004-FST Service Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.67 | 484,309 | 0.70 | 0.68 | 0.72 | 0.66 | |||||||||||||||||||||||||||||
2003-FST Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.00 | 7,076,044 | 0.20 | 0.99 | 0.22 | 0.97 | |||||||||||||||||||||||||||||
2003-FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.97 | 19 | 0.23 | 0.95 | 0.25 | 0.93 | |||||||||||||||||||||||||||||
2003-FST Preferred Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.90 | 108,637 | 0.30 | 0.87 | 0.32 | 0.85 | |||||||||||||||||||||||||||||
2003-FST Capital Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.84 | 4,748 | 0.35 | 0.77 | 0.37 | 0.75 | |||||||||||||||||||||||||||||
2003-FST Administration Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.74 | 419,747 | 0.45 | 0.75 | 0.47 | 0.73 | |||||||||||||||||||||||||||||
2003-FST Service Shares | 1.00 | 0.005 | (0.005 | ) | 1.00 | 0.49 | 505,454 | 0.70 | 0.49 | 0.72 | 0.47 | |||||||||||||||||||||||||||||
2002-FST Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.65 | 8,955,842 | 0.20 | 1.64 | 0.22 | 1.62 | ||||||||||||||||||||||||||||||
2002-FST Select Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.62 | 19 | 0.23 | 1.23 | 0.25 | 1.21 | ||||||||||||||||||||||||||||||
2002-FST Preferred Shares | 1.00 | 0.02 | (0.02) | 1.00 | 1.55 | 121,744 | 0.30 | 1.54 | 0.32 | 1.52 | ||||||||||||||||||||||||||||||
2002-FST Capital Shares (commenced August 12) | 1.00 | 0.01 | (0.01) | 1.00 | 0.53 | 1 | 0.35 | (c) | 1.43 | (c) | 0.37 | (c) | 1.41 | (c) | ||||||||||||||||||||||||||
2002-FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.40 | 685,582 | 0.45 | 1.39 | 0.47 | 1.37 | ||||||||||||||||||||||||||||||
2002-FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.15 | 650,133 | 0.70 | 1.14 | 0.72 | 1.12 | ||||||||||||||||||||||||||||||
2001-FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.05 | 14,153,371 | 0.20 | 3.87 | 0.22 | 3.85 | ||||||||||||||||||||||||||||||
2001-FST Select Shares | 1.00 | 0.04 | (0.04) | 1.00 | 4.02 | 1 | 0.23 | 3.59 | 0.25 | 3.57 | ||||||||||||||||||||||||||||||
2001-FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.95 | 126,915 | 0.30 | 3.76 | 0.32 | 3.74 | ||||||||||||||||||||||||||||||
2001-FST Administration Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.79 | 1,134,424 | 0.45 | 3.75 | 0.47 | 3.73 | ||||||||||||||||||||||||||||||
2001-FST Service Shares | 1.00 | 0.03 | (0.03) | 1.00 | 3.53 | 814,384 | 0.70 | 3.43 | 0.72 | 3.41 | ||||||||||||||||||||||||||||||
2000-FST Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.26 | 8,296,788 | 0.20 | 6.16 | 0.23 | 6.13 | ||||||||||||||||||||||||||||||
2000-FST Select Shares (commenced January 31) | 1.00 | 0.06 | (0.06) | 1.00 | 5.77 | 1 | 0.23 | (c) | 6.16 | (c) | 0.24 | (c) | 6.13 | (c) | ||||||||||||||||||||||||||
2000-FST Preferred Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.16 | 145,000 | 0.30 | 5.93 | 0.32 | 5.90 | ||||||||||||||||||||||||||||||
2000-FST Administration Shares | 1.00 | 0.06 | (0.06) | 1.00 | 6.00 | 1,024,184 | 0.45 | 5.89 | 0.48 | 5.86 | ||||||||||||||||||||||||||||||
2000-FST Service Shares | 1.00 | 0.06 | (0.06) | 1.00 | 5.74 | 899,691 | 0.70 | 5.61 | 0.73 | 5.58 | ||||||||||||||||||||||||||||||
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Net asset | Ratio of net | Ratio of net | ||||||||||||||||||||||||||||||||||||||
Net asset | value, | Net assets, | Ratio of net | investment | Ratio of total | investment | ||||||||||||||||||||||||||||||||||
value, | Net | Distributions | end | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
Year—Share | beginning | investment | to | of | Total | of period | average net | average net | average net | average net | ||||||||||||||||||||||||||||||
Class | of period | income(a) | shareholders | period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
For the Six Months Ended June 30, (Unaudited) | ||||||||||||||||||||||||||||||||||||||||
2005-FST Shares | $ | 1.00 | $ | 0.010 | $ | (0.010 | ) | $ | 1.00 | 1.00 | % | $ | 7,143,394 | 0.18 | %(c) | 1.98 | %(c) | 0.22 | %(c) | 1.94 | %(c) | |||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.98 | 94,191 | 0.21 | (c) | 1.96 | (c) | 0.25 | (c) | 1.92 | (c) | |||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 0.95 | 251,012 | 0.28 | (c) | 1.94 | (c) | 0.32 | (c) | 1.90 | (c) | |||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.92 | 74,530 | 0.33 | (c) | 1.86 | (c) | 0.37 | (c) | 1.82 | (c) | |||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.87 | 342,855 | 0.43 | (c) | 1.73 | (c) | 0.47 | (c) | 1.69 | (c) | |||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.75 | 145,641 | 0.68 | (c) | 1.56 | (c) | 0.72 | (c) | 1.52 | (c) | |||||||||||||||||||||||||
For the Periods Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2004-FST Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.05 | 8,026,117 | 0.18 | 1.03 | 0.22 | 0.99 | |||||||||||||||||||||||||||||
2004-FST Select Shares | 1.00 | 0.010 | (0.010 | ) | 1.00 | 1.02 | 160,472 | 0.21 | 1.02 | 0.25 | 0.98 | |||||||||||||||||||||||||||||
2004-FST Preferred Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.94 | 186,208 | 0.28 | 0.94 | 0.32 | 0.90 | |||||||||||||||||||||||||||||
2004-FST Capital Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.89 | 32,599 | 0.33 | 0.93 | 0.37 | 0.89 | |||||||||||||||||||||||||||||
2004-FST Administration Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.79 | 345,968 | 0.43 | 0.81 | 0.47 | 0.77 | |||||||||||||||||||||||||||||
2004-FST Service Shares | 1.00 | 0.005 | (0.005 | ) | 1.00 | 0.54 | 85,930 | 0.68 | 0.58 | 0.72 | 0.54 | |||||||||||||||||||||||||||||
2003-FST Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.89 | 7,052,124 | 0.18 | 0.87 | 0.22 | 0.83 | |||||||||||||||||||||||||||||
2003-FST Select Shares | 1.00 | 0.009 | (0.009 | ) | 1.00 | 0.86 | 75,811 | 0.21 | 0.85 | 0.25 | 0.81 | |||||||||||||||||||||||||||||
2003-FST Preferred Shares | 1.00 | 0.008 | (0.008 | ) | 1.00 | 0.79 | 204,104 | 0.28 | 0.79 | 0.32 | 0.75 | |||||||||||||||||||||||||||||
2003-FST Capital Shares | 1.00 | 0.007 | (0.007 | ) | 1.00 | 0.74 | 2,784 | 0.33 | 0.75 | 0.37 | 0.71 | |||||||||||||||||||||||||||||
2003-FST Administration Shares | 1.00 | 0.006 | (0.006 | ) | 1.00 | 0.64 | 273,661 | 0.43 | 0.61 | 0.47 | 0.57 | |||||||||||||||||||||||||||||
2003-FST Service Shares | 1.00 | 0.004 | (0.004 | ) | 1.00 | 0.39 | 60,412 | 0.68 | 0.38 | 0.72 | 0.34 | |||||||||||||||||||||||||||||
2002-FST Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.30 | 4,537,375 | 0.18 | 1.29 | 0.22 | 1.25 | ||||||||||||||||||||||||||||||
2002-FST Select Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.27 | 30 | 0.21 | 1.28 | 0.25 | 1.24 | ||||||||||||||||||||||||||||||
2002-FST Preferred Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.20 | 177,825 | 0.28 | 1.20 | 0.32 | 1.16 | ||||||||||||||||||||||||||||||
2002-FST Capital Shares (commenced August 12) | 1.00 | —(d) | —(d) | 1.00 | 0.44 | 7,222 | 0.33 | (c) | 0.94 | (c) | 0.37 | (c) | 0.90 | (c) | ||||||||||||||||||||||||||
2002-FST Administration Shares | 1.00 | 0.01 | (0.01) | 1.00 | 1.05 | 206,792 | 0.43 | 1.04 | 0.47 | 1.00 | ||||||||||||||||||||||||||||||
2002-FST Service Shares | 1.00 | 0.01 | (0.01) | 1.00 | 0.80 | 69,204 | 0.68 | 0.79 | 0.72 | 0.75 | ||||||||||||||||||||||||||||||
2001-FST Shares | 1.00 | 0.03 | (0.03) | 1.00 | 2.60 | 3,588,030 | 0.18 | 2.46 | 0.23 | 2.41 | ||||||||||||||||||||||||||||||
2001-FST Select Shares | 1.00 | 0.03 | (0.03) | 1.00 | 2.57 | 1 | 0.21 | 2.73 | 0.26 | 2.68 | ||||||||||||||||||||||||||||||
2001-FST Preferred Shares | 1.00 | 0.02 | (0.02) | 1.00 | 2.50 | 17,722 | 0.28 | 2.45 | 0.33 | 2.40 | ||||||||||||||||||||||||||||||
2001-FST Administration Shares | 1.00 | 0.02 | (0.02) | 1.00 | 2.34 | 146,621 | 0.43 | 2.27 | 0.48 | 2.22 | ||||||||||||||||||||||||||||||
2001-FST Service Shares | 1.00 | 0.02 | (0.02) | 1.00 | 2.09 | 68,298 | 0.68 | 2.04 | 0.73 | 1.99 | ||||||||||||||||||||||||||||||
2000-FST Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.95 | 2,693,098 | 0.18 | 3.93 | 0.23 | 3.88 | ||||||||||||||||||||||||||||||
2000-FST Select Shares (commenced January 31) | 1.00 | 0.04 | (0.04) | 1.00 | 3.66 | 1 | 0.21 | (c) | 3.97 | (c) | 0.26 | (c) | 3.92 | (c) | ||||||||||||||||||||||||||
2000-FST Preferred Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.85 | 18,568 | 0.28 | 3.81 | 0.33 | 3.76 | ||||||||||||||||||||||||||||||
2000-FST Administration Shares | 1.00 | 0.04 | (0.04) | 1.00 | 3.69 | 108,335 | 0.43 | 3.66 | 0.48 | 3.61 | ||||||||||||||||||||||||||||||
2000-FST Service Shares | 1.00 | 0.03 | (0.03) | 1.00 | 3.43 | 71,614 | 0.68 | 3.46 | 0.73 | 3.41 | ||||||||||||||||||||||||||||||
(a) | Calculated based on the average shares outstanding methodology. |
(b) | Assumes reinvestment of all distributions. Returns for periods less than a full year are not annualized. |
(c) | Annualized. |
(d) | Less than $0.005 per share. |
Statement Regarding Basis for Approval of Management Agreement (Unaudited)
The Trustees oversee the management of Goldman Sachs Trust (the “Trust”), and review the investment performance and expenses of the investment funds covered by this Report (the “Funds”) at regularly scheduled meetings held during the Funds’ fiscal year. In addition, the Trustees determine annually whether to approve and continue the Trust’s investment management agreement (the “Management Agreement”) with Goldman Sachs Asset Management, L.P. (the “Investment Adviser”) for the Funds.
and benchmark performance indices; (b) general investment outlooks in the markets in which the Funds invest; (c) compliance reports; and (d) expenses borne by the Funds.
and the profits realized by them; and information comparing the contractual fee rates charged by the Investment Adviser (which do not include fee breakpoints) with fee rates charged by other, unaffiliated investment managers to other mutual funds. In this connection, the Trustees again noted that the fees actually paid by the Funds were reduced by the Investment Adviser’s fee waivers and that the Investment Adviser had reimbursed certain expenses of the Funds.
Fund Expenses (Unaudited) — Six Month Period Ended June 30, 2005
As a shareholder of FST Shares, FST Select Shares, FST Preferred Shares, FST Capital Shares, FST Administration Shares or FST Service Shares of the Funds you incur ongoing costs, including management fees; distribution (12b-1), service and/or shareholder administration fees (with respect to FST Select, FST Preferred, FST Capital, FST Administration and FST Service Shares, if any); and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in FST Shares, FST Select Shares, FST Preferred Shares, FST Capital Shares, FST Administration Shares or FST Service Shares of the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2005 through June 30, 2005.
Actual Expenses — The first line under each share class in the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000=8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid” to estimate the expenses you paid on your account for this period.
Hypothetical Example for Comparison Purposes — The second line under each share class in the table below provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Funds’ actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Prime Obligations Fund | Money Market Fund | |||||||||||||||||||||||
Expenses | Expenses | |||||||||||||||||||||||
Paid for | Paid for | |||||||||||||||||||||||
Beginning | Ending | the | Beginning | Ending | the | |||||||||||||||||||
Account | Account | 6 months | Account | Account | 6 months | |||||||||||||||||||
Value | Value | ended | Value | Value | ended | |||||||||||||||||||
Share Class | 1/1/05 | 6/30/05 | 6/30/05* | 1/1/05 | 6/30/05 | 6/30/05* | ||||||||||||||||||
FST Shares | ||||||||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,012.90 | $ | 0.90 | $ | 1,000.00 | $ | 1,013.00 | $ | 0.91 | ||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.90 | + | 0.91 | 1,000.00 | 1,023.90 | + | 0.91 | ||||||||||||||||
FST Select Shares | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.70 | 1.05 | 1,000.00 | 1,012.80 | 1.06 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.75 | + | 1.06 | 1,000.00 | 1,023.75 | + | 1.06 | ||||||||||||||||
FST Preferred Shares | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.40 | 1.40 | 1,000.00 | 1,012.50 | 1.41 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.40 | + | 1.41 | 1,000.00 | 1,023.40 | + | 1.41 | ||||||||||||||||
FST Capital | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.10 | 1.65 | 1,000.00 | 1,012.20 | 1.66 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.15 | + | 1.66 | 1,000.00 | 1,023.14 | + | 1.67 | ||||||||||||||||
FST Administration | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,011.60 | 2.15 | 1,000.00 | 1,011.70 | 2.15 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.66 | + | 2.16 | 1,000.00 | 1,022.65 | + | 2.17 | ||||||||||||||||
FST Service | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,010.40 | 3.39 | 1,000.00 | 1,010.50 | 3.40 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,021.42 | + | 3.41 | 1,000.00 | 1,021.41 | + | 3.42 | ||||||||||||||||
[Additional columns below]
[Continued from above table, first column(s) repeated]
Treasury Obligations Fund | Treasury Instruments Fund | |||||||||||||||||||||||
Expenses | Expenses | |||||||||||||||||||||||
Paid for | Paid for | |||||||||||||||||||||||
Beginning | Ending | the | Beginning | Ending | the | |||||||||||||||||||
Account | Account | 6 months | Account | Account | 6 months | |||||||||||||||||||
Value | Value | ended | Value | Value | ended | |||||||||||||||||||
Share Class | 1/1/05 | 6/30/05 | 6/30/05* | 1/1/05 | 6/30/05 | 6/30/05* | ||||||||||||||||||
FST Shares | ||||||||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,012.20 | $ | 1.02 | $ | 1,000.00 | $ | 1,011.80 | $ | 1.02 | ||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.78 | + | 1.02 | 1,000.00 | 1,023.78 | + | 1.02 | ||||||||||||||||
FST Select Shares | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.00 | 1.57 | 1,000.00 | 1,011.60 | 1.13 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.24 | + | 1.58 | 1,000.00 | 1,023.67 | + | 1.14 | ||||||||||||||||
FST Preferred Shares | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,011.70 | 1.52 | 1,000.00 | 1,011.30 | 1.52 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.29 | + | 1.52 | 1,000.00 | 1,023.29 | + | 1.52 | ||||||||||||||||
FST Capital | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,011.40 | 1.77 | 1,000.00 | 1,011.00 | 1.76 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.04 | + | 1.78 | 1,000.00 | 1,023.04 | + | 1.78 | ||||||||||||||||
FST Administration | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,010.90 | 2.26 | 1,000.00 | 1,010.50 | 2.26 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.54 | + | 2.28 | 1,000.00 | 1,022.54 | + | 2.28 | ||||||||||||||||
FST Service | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,009.70 | 3.51 | 1,000.00 | 1,009.30 | 3.51 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,021.30 | + | 3.53 | 1,000.00 | 1,021.30 | + | 3.53 | ||||||||||||||||
Government Fund | Federal Fund | |||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||
Paid for | Expenses | |||||||||||||||||||||||
Beginning | Ending | the | Beginning | Ending | Paid for the | |||||||||||||||||||
Account | Account | 6 months | Account | Account | 6 months | |||||||||||||||||||
Value | Value | ended | Value | Value | ended | |||||||||||||||||||
Share Class | 1/1/05 | 6/30/05 | 6/30/05* | 1/1/05 | 6/30/05 | 6/30/05* | ||||||||||||||||||
FST Shares | ||||||||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,012.70 | $ | 0.92 | $ | 1,000.00 | $ | 1,012.40 | $ | 1.02 | ||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.88 | + | 0.92 | 1,000.00 | 1,023.78 | + | 1.02 | ||||||||||||||||
FST Select Shares | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.60 | 1.07 | 1,000.00 | 1,012.30 | 0.97 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.73 | + | 1.07 | 1,000.00 | 1,023.83 | + | 0.98 | ||||||||||||||||
FST Preferred Shares | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.20 | 1.42 | 1,000.00 | 1,011.90 | 1.52 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.39 | + | 1.42 | 1,000.00 | 1,023.29 | + | 1.52 | ||||||||||||||||
FST Capital | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,012.00 | 1.67 | 1,000.00 | 1,011.70 | 1.77 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.14 | + | 1.68 | 1,000.00 | 1,023.04 | + | 1.78 | ||||||||||||||||
FST Administration | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,011.50 | 2.16 | 1,000.00 | 1,011.20 | 2.26 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.64 | + | 2.18 | 1,000.00 | 1,022.54 | + | 2.28 | ||||||||||||||||
FST Service | ||||||||||||||||||||||||
Actual | 1,000.00 | 1,010.20 | 3.41 | 1,000.00 | 1,009.90 | 3.51 | ||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,021.40 | + | 3.43 | 1,000.00 | 1,021.30 | + | 3.53 | ||||||||||||||||
[Additional columns below]
[Continued from above table, first column(s) repeated]
Tax-Free Money Market Fund | ||||||||||||
Expenses | ||||||||||||
Paid for | ||||||||||||
Beginning | Ending | the | ||||||||||
Account | Account | 6 months | ||||||||||
Value | Value | ended | ||||||||||
Share Class | 1/1/05 | 6/30/05 | 6/30/05* | |||||||||
FST Shares | ||||||||||||
Actual | $ | 1,000.00 | $ | 1,010.00 | $ | 0.92 | ||||||
Hypothetical 5% return | 1,000.00 | 1,023.88 | + | 0.92 | ||||||||
FST Select Shares | ||||||||||||
Actual | 1,000.00 | 1,009.80 | 1.07 | |||||||||
Hypothetical 5% return | 1,000.00 | 1,023.73 | + | 1.07 | ||||||||
FST Preferred Shares | ||||||||||||
Actual | 1,000.00 | 1,009.50 | 1.42 | |||||||||
Hypothetical 5% return | 1,000.00 | 1,023.39 | + | 1.42 | ||||||||
FST Capital | ||||||||||||
Actual | 1,000.00 | 1,009.20 | 1.66 | |||||||||
Hypothetical 5% return | 1,000.00 | 1,023.14 | + | 1.67 | ||||||||
FST Administration | ||||||||||||
Actual | 1,000.00 | 1,008.70 | 2.16 | |||||||||
Hypothetical 5% return | 1,000.00 | 1,022.64 | + | 2.18 | ||||||||
FST Service | ||||||||||||
Actual | 1,000.00 | 1,007.50 | 3.39 | |||||||||
Hypothetical 5% return | 1,000.00 | 1,021.41 | + | 3.42 | ||||||||
* | Expenses for each share class are calculated using the fund’s annualized expense ratio for each class, which represents the ongoing expenses as a percentage of net assets for the six months ended June 30, 2005. Expenses are calculated by multiplying the annualized expense ratio by the average account value for the period; then multiplying the result by the number of days in the most recent fiscal half year; and then dividing that result by the number of days in the year. Expense ratios for the most recent fiscal half year may differ from expense ratios based on one-year data in the financial highlights. The annualized net expense ratios for the period were as follows: |
Fund | FST Shares | FST Select Shares | FST Preferred Shares | FST Capital Shares | FST Administration Shares | FST Service Shares | ||||||||||||||||||
Prime Obligations Fund | 0.18 | % | 0.21 | % | 0.28 | % | 0.33 | % | 0.43 | % | 0.68 | % | ||||||||||||
Money Market Fund | 0.18 | 0.21 | 0.28 | 0.33 | 0.43 | 0.68 | ||||||||||||||||||
Treasury Obligations Fund | 0.20 | 0.31 | 0.30 | 0.35 | 0.45 | 0.70 | ||||||||||||||||||
Treasury Instruments Fund | 0.20 | 0.23 | 0.30 | 0.35 | 0.45 | 0.70 | ||||||||||||||||||
Government Fund | 0.18 | 0.21 | 0.28 | 0.33 | 0.43 | 0.68 | ||||||||||||||||||
Federal Fund | 0.20 | 0.19 | 0.30 | 0.35 | 0.45 | 0.70 | ||||||||||||||||||
Tax-Free Money Market Fund | 0.18 | 0.21 | 0.28 | 0.33 | 0.43 | 0.68 | ||||||||||||||||||
+ | Hypothetical expenses are based on the Fund’s actual annualized expense ratios and an assumed rate of return of 5% per year before expenses. |
TRUSTEES | |
Ashok N. Bakhru, Chairman | |
John P. Coblentz, Jr. | |
Patrick T. Harker | |
Mary Patterson McPherson | |
Alan A. Shuch | |
Wilma J. Smelcer | |
Richard P. Strubel | |
Kaysie P. Uniacke | |
OFFICERS | |
Kaysie P. Uniacke, President | |
James A. Fitzpatrick, Vice President | |
James A. McNamara, Vice President | |
John M. Perlowski, Treasurer | |
Howard B. Surloff, Secretary | |
GOLDMAN, SACHS & CO. | |
Distributor and Transfer Agent | |
GOLDMAN SACHS ASSET MANAGEMENT, L.P. | |
Investment Adviser |
The Funds file their complete schedule of portfolio holdings with the Securities and Exchange Commission (“the Commission”) for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q are available on the Commission’s website at http://www.sec.gov. The Funds’ Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. Form N-Q may be obtained upon request and without charge by calling 1-800-621-2550.
A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available (i) without charge, upon request by calling 1-800-621-2550; and (ii) on the Securities and Exchange Commission Website at http://www.sec.gov.
This Semiannual Report is authorized for distribution to prospective investors only when preceded or accompanied by a Goldman Sachs Trust Financial Square Funds Prospectus, which contains facts concerning each Fund’s objectives and policies, management, expenses and other information.
FSQ/ SAR 06/05 | Goldman Sachs Funds 32 Old Slip New York, NY 10005 |
ITEM 2. | CODE OF ETHICS. — Not applicable to the Semi-Annual Report for the period ended June 30, 2005 |
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. — Not applicable to the Semi-Annual Report for the period ended June 30, 2005 |
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. — Not applicable to the Semi-Annual Report for the period ended June 30, 2005 |
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. | |
Not applicable. |
ITEM 6. | SCHEDULE OF INVESTMENTS. | |
Schedule of Investments is included as part of the Report to Shareholders filed under Item 1. |
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. | PURCHASES 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 have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of trustees. | |
ITEM 11. | CONTROLS AND PROCEDURES. | |
(a) | The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934, as amended. | ||
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect the registrant’s internal control over financial reporting. | ||
ITEM 12. | EXHIBITS. |
(a)(1) | Goldman Sachs Trust’s Code of Ethics for Principal Executive and Senior Financial Officers is incorporated by reference to Exhibit 11(a)(1) of the registrant’s Form N-CSR filed on March 8, 2004 for its Real Estate Securities Fund (Accession Number 0000950123-04-0002984). | ||
(a)(2) | Exhibit 99.CERT | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 filed herewith. | ||
(b) | Exhibit 99.906CERT | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 filed herewith. |
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. |
Goldman Sachs Trust | ||||||
By: | /s/ Kaysie P. Uniacke | |||||
Kaysie P. Uniacke | ||||||
President/Principal Executive Officer | ||||||
Goldman Sachs Trust | ||||||
Date: | August 19, 2005 |
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/ Kaysie P. Uniacke | |||||
Kaysie P. Uniacke | ||||||
President/Principal Executive Officer | ||||||
Goldman Sachs Trust | ||||||
Date: | August 19, 2005 | |||||
By: | /s/ John M. Perlowski | |||||
John M. Perlowski | ||||||
Treasurer/Principal Financial Officer | ||||||
Goldman Sachs Trust | ||||||
Date: | August 19, 2005 |