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 811-05349
Goldman Sachs Trust
(Exact name of registrant as specified in charter)
71 South Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Peter V. Bonanno, Esq. | Copies to: | |
Goldman, Sachs & Co. | Jack W. Murphy, Esq. | |
One New York Plaza | Dechert LLP | |
New York, New York 10004 | 1775 I Street, NW | |
Washington, D.C. 20006 | ||
(Name and address of agents for service) |
Registrant’s telephone number, including area code: (312) 655-4400
Date of fiscal year end: August 31
Date of reporting period: February 28, 2009
ITEM 1. | REPORTS TO STOCKHOLDERS. | |
The Semi-Annual Report to Stockholders is filed herewith. |
Goldman Sachs Trust
Financial Square FundsSM
► Federal Fund
SEMIANNUAL REPORT
February 28, 2009
Goldman Sachs Trust Financial Square Funds
TABLE OF CONTENTS
Letter to Shareholders | 1 | |
Sector Allocations | 3 | |
Schedules of Investments | 5 | |
Financial Statements | 48 | |
Notes to Financial Statements | 59 | |
Financial Highlights | 71 | |
Other Information | 78 |
Letter to Shareholders
Dear Shareholders:
The Goldman Sachs Trust-Financial Square Funds have changed their fiscal year end from December 31 to August 31. As a result, this report provides an overview on the performance of the Funds during the two-month reporting period that ended February 28, 2009.
Economic and Money Market Review
Conditions in some financial markets began to improve in the beginning of 2009, in part reflecting government efforts to provide liquidity and strengthen financial institutions. However, credit conditions for households and firms remain extremely tight. Not surprisingly, economic data has weakened further. The Conference Board Consumer Confidence Index fell again in January 2009, making it the second consecutive month that it reached an all-time low. Fourth quarter GDP decreased at an annual rate of 0.8%, its largest contraction in over 25 years according to advance estimates. Meanwhile, near-term inflationary pressures continued to diminish. The headline Consumer Price Index (CPI) decreased 0.7% in December 2008, driven largely by further declines in energy prices. CPI ended 2008 a mere 0.1% higher than year-end 2007. The Federal Reserve Board (the “Fed”) continues to focus its efforts on unconventional monetary policy and the emerging consensus is that the Fed’s primary objection is the creation of credit. In other words, the Fed seems less concerned with whether Treasury yields rise or fall and more focused on the narrowing of credit spreads. As market participants positioned themselves for a glut of stimulus-related issuance, Treasury yields rose in January, particularly further out along the curve as concerns increased over the long-term inflationary impact of the government’s stimulus packages.
Economic data released in February 2009 underscored the severity of the U.S. recession. The economy contracted far more at the end of last year than initially anticipated, as fourth quarter GDP was revised downward to –6.2%, the worst reading since the 1982 recession. The Conference Board Consumer Confidence Index reached its lowest level in the series’ history dating back to 1967. The employment picture also deteriorated significantly, with non-farm payrolls declining 651,000 in February following January’s losses of 655,000. This marked the 14th consecutive month of declines and brought the total losses for the past four months to over 2.5 million. Not surprisingly, weakness persisted in the housing market, with the Case-Shiller 20-city composite home price index now down 27% from its 2006 peak through December 2008. The financial markets responded with skepticism and uncertainty to a series of announcements regarding government interventions in financial and housing markets. Market participants expressed dismay over the vagueness of Treasury Secretary Timothy Geithner’s plan to deal with the troubled assets imperiling the financial system. The market’s response to the $787 billion American Recovery and Reinvestment Act was more muted. However, the Homeowner Affordability and Stability Plan, which aims to offer assistance to as many as seven to nine million homeowners also appeared to disappoint investors. Finally, the government announced that it will start conducting stress tests of the largest U.S. banking organizations. It vowed to provide these banks with an extra cushion of support if it is determined that they have insufficient capital buffers to withstand the impact of an economic environment that is more challenging than is currently anticipated. Overall, these measures provided little comfort to investors, leading to further sell-offs in riskier asset classes.
Strategy
Taxable Funds—In the first two months of 2009, we primarily purchased short dated commercial paper for the Funds. We continued to maintain a high percentage in overnight liquidity and, as conditions in the markets stabilized with the multiple actions by the Fed, we focused on buying paper in the three- and
1
Letter to Shareholders
(continued)
six-month sectors when opportunistic. We took advantage of additional issuance in the agency market throughout the period and purchased across the taxable and government funds. With the fed funds target rate in a low range of 0%-0.25%, we continue to see investors shifting assets back into the corporate funds. The current weighted average maturity target for the Funds is between 45-55 days.
Tax-Exempt Fund—In the first two months of 2009, we witnessed a flat yield curve over much of the period. Overnight securities were in the 10-20 basis point range and the three- to six-month securities were in the 50-60 basis point range. We rolled tax-exempt commercial paper and purchased some one-year paper to add duration throughout the period. We focused on selling out of the names with less attractive valuations in the tax-exempt fund. Towards the end of the February, we increased our allocation in Variable Rate Demand Notes (VRDNs) by swapping out of lower yielding tax-exempt commercial paper when opportunistic. The weighted average maturity is currently in the 35-45 day range.
Summary of Financial Square Funds
Institutional Shares* as of February 28, 2009
SEC | SEC | SEC | Weighted | ||||||||||||||||||||||
7-Day | 7-Day | 7-Day | 30 day | Avg. | |||||||||||||||||||||
Dist. | Current | Effective | Average | Maturity | |||||||||||||||||||||
FS Funds | Yield | Yield | Yield | Yield | (days) | ||||||||||||||||||||
Prime Obligations | 0.49 | % | 0.55 | % | 0.55 | % | 0.63 | % | 47 | ||||||||||||||||
Government | 0.54 | 0.47 | 0.47 | 0.65 | 48 | ||||||||||||||||||||
Treasury Obligations | 0.30 | 0.16 | 0.16 | 0.35 | 44 | ||||||||||||||||||||
Money Market | 0.64 | 0.64 | 0.64 | 0.84 | 38 | ||||||||||||||||||||
Treasury Instruments | 0.18 | 0.09 | 0.09 | 0.15 | 47 | ||||||||||||||||||||
Federal | 0.41 | 0.38 | 0.38 | 0.45 | 47 | ||||||||||||||||||||
Tax-Free Money Market | 0.56 | 0.56 | 0.56 | 0.50 | 38 | ||||||||||||||||||||
* | Financial Square Funds offers six separate classes of shares (Institutional, Select, Preferred, Capital, Administration and Service), each of which is subject to different fees and expenses that affect performance and entitle shareholders to different services. The Institutional class does not have a service fee. The Select, Preferred, Capital, Administration and Service shares offer financial institutions the opportunity to receive a fee for providing administrative support. The Select shares pay 0.03%, Preferred shares pay 0.10%, Capital shares pay 0.15%, Administrative shares pay 0.25%, and the Service shares pay 0.50% of the daily average net assets or the respective shares. If these fees were reflected in the above performance, performance would have been reduced. Past performance is no guarantee of future results. Yields will vary. An investment in any of the Financial Square Fund’s 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. |
The Yields represent past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.
Yields will fluctuate as market conditions change. The yield quotations more closely reflect the current earnings of the Fund.
The Standardized 7-Day Current Yield and Standardized 7-Day Effective Yield of a fund are calculated in accordance with securities industry regulations and do not include capital gains. Standardized 7-Day Current Yield may differ slightly from the actual distribution rate of a given Fund because of the exclusion of distributed capital gains, which are non-recurring. The Standardized 7-Day Effective Yield assumes reinvestment of dividends for one year.
In closing, we thank you for your continued support. As in the past, we will look for additional ways to improve our services while seeking to provide competitive performance.
Goldman Sachs Money Market Management Team
March 24, 2009
2
Sector Allocations†
Taxable Funds
Security Type | Prime | Treasury | Treasury | |||||||||||||||||||||||||||
(Percentage of Net Assets) | Federal | Government | Money Market | Obligations | Instruments | Obligations | ||||||||||||||||||||||||
Bank Notes | — | — | — | 3.5 | % | — | — | |||||||||||||||||||||||
Certificates of Deposit | — | — | 0.9 | % | 0.3 | — | — | |||||||||||||||||||||||
Certificates of Deposit—Eurodollar | — | — | 2.4 | — | — | — | ||||||||||||||||||||||||
Certificates of Deposit—Yankeedollar | — | — | 5.7 | — | — | — | ||||||||||||||||||||||||
Commercial Paper & Corporate Obligations | — | — | 22.6 | 26.0 | — | — | ||||||||||||||||||||||||
Government Guarantee Commercial Paper | — | 3.5 | % | 1.8 | 2.0 | — | — | |||||||||||||||||||||||
Government Guarantee Notes | — | 1.2 | — | 0.3 | — | — | ||||||||||||||||||||||||
Government Guarantee Variable Rate Obligations | — | 0.9 | 1.9 | 0.5 | — | — | ||||||||||||||||||||||||
Master Demand Notes | — | — | 1.1 | 2.2 | — | — | ||||||||||||||||||||||||
Repurchase Agreements | — | 48.7 | 31.8 | 25.6 | — | 77.3 | % | |||||||||||||||||||||||
Time Deposits | — | — | 4.9 | 0.3 | — | — | ||||||||||||||||||||||||
U.S. Government Agency Obligations | 91.3 | % | 48.4 | 20.6 | 32.4 | — | — | |||||||||||||||||||||||
U.S. Treasury Obligations | 9.2 | — | — | 1.0 | 101.4 | % | 22.7 | |||||||||||||||||||||||
Variable Rate Obligations | — | — | 6.9 | 6.2 | — | — | ||||||||||||||||||||||||
As of December 31, 2008
Security Type | Prime | Treasury | Treasury | |||||||||||||||||||||||||||
(Percentage of Net Assets) | Federal | Government | Money Market | Obligations | Instruments | Obligations | ||||||||||||||||||||||||
Bank Notes | — | — | — | 2.9 | % | — | — | |||||||||||||||||||||||
Certificates of Deposit | — | — | 0.8 | % | 3.3 | — | — | |||||||||||||||||||||||
Certificates of Deposit—Eurodollar | — | — | 1.5 | — | — | — | ||||||||||||||||||||||||
Certificates of Deposit—Yankeedollar | — | — | 5.0 | — | — | — | ||||||||||||||||||||||||
Commercial Paper & Corporate Obligations | — | — | 51.0 | 36.3 | — | — | ||||||||||||||||||||||||
Master Demand Notes | — | — | 1.2 | — | — | — | ||||||||||||||||||||||||
Repurchase Agreements | — | 23.4 | % | 12.7 | 16.2 | — | 32.6 | % | ||||||||||||||||||||||
Time Deposits | — | — | 3.8 | 1.5 | — | — | ||||||||||||||||||||||||
U.S. Government Agency Obligations | 91.5 | % | 75.0 | 16.9 | 31.9 | — | — | |||||||||||||||||||||||
U.S. Treasury Obligations | 12.0 | — | — | — | 100.0 | % | 67.4 | |||||||||||||||||||||||
Variable Rate Obligations | — | 1.5 | 6.8 | 7.7 | — | — | ||||||||||||||||||||||||
† | The Funds are actively managed and, as such, its composition may differ over time. The percentage shown for each investment category reflects the value (based on amortized cost) of investments in that category as a percentage of net assets. Figures in the table above may not sum to 100% due to the exclusion of other assets and liabilities. |
3
Sector Allocations†
Tax-Free Money Market Fund
Security Type | As of | As of | ||||||||
(Percentage of Net Assets) | February 28, 2009 | December 31, 2008 | ||||||||
Commercial Paper | 18.5 | % | 13.9 | % | ||||||
Bond Anticipation Notes | 0.2 | 0.2 | ||||||||
General Obligation Bond | 3.4 | 2.8 | ||||||||
Put Bonds | 5.4 | 4.2 | ||||||||
Revenue Anticipation Notes | 1.0 | 1.0 | ||||||||
Revenue Bonds | 1.6 | 1.1 | ||||||||
Tax and Revenue Anticipation Notes | 3.8 | 3.9 | ||||||||
Tax Anticipation Notes | 2.9 | 2.9 | ||||||||
Variable Rate Obligations | 63.3 | 68.5 | ||||||||
† | The Fund is actively managed and, as such, its composition may differ over time. The percentage shown for each investment category reflects the value (based on amortized cost) of investments in that category as a percentage of net assets. Figures in the above table may not sum to 100% due to the exclusion of other assets and liabilities. |
4
Schedule of Investments
Financial Square Federal Fund
Financial Square Federal Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Agency Obligations—91.3% | ||||||||||||||
Federal Farm Credit Bank | ||||||||||||||
$ | 100,000,000 | 0.210 | (a)% | 03/02/09 | $ | 99,999,528 | ||||||||
50,000,000 | 0.300 | (a) | 03/02/09 | 50,000,000 | ||||||||||
105,000,000 | 0.310 | (a) | 03/02/09 | 105,000,000 | ||||||||||
968,000,000 | 0.313 | (a) | 03/02/09 | 968,000,000 | ||||||||||
45,000,000 | 0.320 | (a) | 03/02/09 | 44,992,535 | ||||||||||
150,000,000 | 0.340 | (a) | 03/02/09 | 150,000,000 | ||||||||||
135,000,000 | 0.480 | (a) | 03/02/09 | 135,000,000 | ||||||||||
132,000,000 | 0.595 | (a) | 03/02/09 | 132,000,000 | ||||||||||
27,000,000 | 2.992 | (a) | 03/03/09 | 27,000,000 | ||||||||||
125,000,000 | 0.150 | 03/04/09 | 124,998,437 | |||||||||||
59,275,000 | 0.338 | (a) | 03/07/09 | 59,271,464 | ||||||||||
250,000,000 | 0.327 | (a) | 03/12/09 | 249,977,963 | ||||||||||
176,000,000 | 0.305 | (a) | 03/15/09 | 176,000,000 | ||||||||||
750,000,000 | 0.645 | (a) | 03/15/09 | 750,000,000 | ||||||||||
88,000,000 | 1.826 | (a) | 03/15/09 | 88,000,000 | ||||||||||
25,000,000 | 0.200 | 03/16/09 | 24,997,917 | |||||||||||
206,500,000 | 0.260 | (a) | 03/16/09 | 206,430,495 | ||||||||||
50,000,000 | 0.200 | 03/17/09 | 49,995,556 | |||||||||||
226,000,000 | 0.661 | (a) | 03/18/09 | 226,000,000 | ||||||||||
22,500,000 | 0.190 | 03/23/09 | 22,497,388 | |||||||||||
22,500,000 | 0.190 | 03/24/09 | 22,497,269 | |||||||||||
45,000,000 | 0.190 | 03/25/09 | 44,994,300 | |||||||||||
22,500,000 | 0.190 | 03/26/09 | 22,497,031 | |||||||||||
36,000,000 | 0.200 | 03/27/09 | 35,994,800 | |||||||||||
42,000,000 | 3.756 | 03/30/09 | 41,999,683 | |||||||||||
135,000,000 | 0.596 | (a)(b) | 04/03/09 | 135,000,000 | ||||||||||
112,000,000 | 1.100 | 04/14/09 | 111,849,422 | |||||||||||
90,000,000 | 0.794 | (a) | 04/15/09 | 90,000,000 | ||||||||||
45,000,000 | 0.320 | 04/20/09 | 44,980,000 | |||||||||||
401,400,000 | 0.975 | (a) | 04/23/09 | 401,400,000 | ||||||||||
175,000,000 | 0.310 | (a) | 05/02/09 | 175,000,000 | ||||||||||
45,000,000 | 1.700 | 05/15/09 | 44,840,625 | |||||||||||
24,000,000 | 0.330 | 05/19/09 | 23,982,620 | |||||||||||
27,000,000 | 0.450 | 07/02/09 | 26,958,488 | |||||||||||
203,000,000 | 1.400 | 07/06/09 | 201,997,406 | |||||||||||
91,000,000 | 0.370 | 07/08/09 | 90,879,349 | |||||||||||
22,000,000 | 0.410 | 07/13/09 | 21,966,426 | |||||||||||
24,000,000 | 0.410 | 07/16/09 | 23,962,553 | |||||||||||
28,500,000 | 0.500 | 07/20/09 | 28,444,187 | |||||||||||
22,500,000 | 0.490 | 07/29/09 | 22,454,063 | |||||||||||
92,000,000 | 0.710 | 11/17/09 | 91,526,430 | |||||||||||
68,000,000 | 0.790 | 12/15/09 | 67,568,748 | |||||||||||
95,000,000 | 0.650 | 01/05/10 | 94,468,264 | |||||||||||
91,000,000 | 0.780 | 01/07/10 | 90,384,840 | |||||||||||
248,000,000 | 0.920 | 02/22/10 | 245,731,076 | |||||||||||
Federal Home Loan Bank | ||||||||||||||
250,000,000 | 0.090 | 03/02/09 | 249,999,375 | |||||||||||
2,803,702,000 | 0.120 | 03/02/09 | 2,803,692,654 | |||||||||||
550,000,000 | 0.200 | 03/02/09 | 549,996,944 | |||||||||||
665,000,000 | 0.470 | (a) | 03/02/09 | 665,000,000 | ||||||||||
131,500,000 | 0.520 | (a) | 03/02/09 | 131,500,000 | ||||||||||
75,000,000 | 0.530 | (a) | 03/02/09 | 75,000,000 | ||||||||||
195,000,000 | 0.610 | (a) | 03/02/09 | 195,000,000 | ||||||||||
389,000,000 | 0.820 | (a) | 03/02/09 | 389,000,000 | ||||||||||
85,822,000 | 0.850 | 03/02/09 | 85,819,974 | |||||||||||
61,000,000 | 0.940 | (a)(b) | 03/02/09 | 61,000,000 | ||||||||||
105,900,000 | 0.190 | 03/03/09 | 105,898,882 | |||||||||||
110,000,000 | 0.200 | 03/03/09 | 109,998,778 | |||||||||||
37,459,000 | 0.220 | 03/03/09 | 37,458,542 | |||||||||||
217,100,000 | 1.100 | 03/03/09 | 217,086,733 | |||||||||||
146,816,000 | 0.100 | 03/04/09 | 146,814,777 | |||||||||||
606,116,000 | 0.130 | 03/04/09 | 606,109,434 | |||||||||||
131,000,000 | 0.150 | 03/04/09 | 130,998,362 | |||||||||||
65,127,000 | 0.290 | 03/04/09 | 65,125,426 | |||||||||||
364,000,000 | 2.040 | (a) | 03/04/09 | 364,055,178 | ||||||||||
24,000,000 | 0.150 | 03/06/09 | 23,999,500 | |||||||||||
430,000,000 | 0.690 | 03/06/09 | 429,958,792 | |||||||||||
432,745,000 | 0.700 | 03/06/09 | 432,702,928 | �� | ||||||||||
150,000,000 | 2.013 | (a) | 03/08/09 | 149,962,603 | ||||||||||
169,633,000 | 0.550 | 03/09/09 | 169,612,267 | |||||||||||
178,650,000 | 0.800 | 03/09/09 | 178,618,240 | |||||||||||
99,000,000 | 2.080 | 03/09/09 | 98,954,240 | |||||||||||
182,250,000 | 0.160 | 03/11/09 | 182,241,900 | |||||||||||
65,155,000 | 0.290 | 03/11/09 | 65,149,751 | |||||||||||
48,000,000 | 0.300 | 03/11/09 | 47,996,000 | |||||||||||
42,000,000 | 1.000 | 03/11/09 | 41,988,333 | |||||||||||
19,000,000 | 0.200 | 03/13/09 | 18,998,733 | |||||||||||
30,500,000 | 0.290 | 03/13/09 | 30,497,052 | |||||||||||
110,500,000 | 0.300 | 03/13/09 | 110,488,950 | |||||||||||
7,000,000 | 0.200 | 03/16/09 | 6,999,417 | |||||||||||
581,767,000 | 0.250 | 03/16/09 | 581,706,399 | |||||||||||
63,032,000 | 0.300 | 03/16/09 | 63,024,121 | |||||||||||
240,000,000 | 0.180 | 03/17/09 | 239,980,800 | |||||||||||
9,600,000 | 0.200 | 03/17/09 | 9,599,147 | |||||||||||
427,000,000 | 2.500 | 03/17/09 | 426,986,034 | |||||||||||
11,600,000 | 0.200 | 03/18/09 | 11,598,904 | |||||||||||
200,000,000 | 0.230 | 03/18/09 | 199,978,278 | |||||||||||
60,000,000 | 0.290 | 03/18/09 | 59,991,783 | |||||||||||
56,000,000 | 0.300 | 03/18/09 | 55,992,067 | |||||||||||
350,000,000 | 0.405 | (a) | 03/18/09 | 349,605,510 | ||||||||||
218,934,000 | 0.240 | 03/19/09 | 218,907,728 | |||||||||||
228,000,000 | 0.290 | 03/20/09 | 227,965,103 | |||||||||||
910,000,000 | 0.294 | 03/20/09 | 909,858,798 | |||||||||||
219,005,000 | 2.900 | 03/24/09 | 218,956,654 | |||||||||||
13,500,000 | 0.320 | 03/27/09 | 13,496,880 | |||||||||||
501,805,000 | 1.466 | (a) | 03/27/09 | 501,805,000 | ||||||||||
120,800,000 | 1.468 | (a) | 03/27/09 | 120,919,427 | ||||||||||
124,000,000 | 0.300 | 03/31/09 | 123,969,000 | |||||||||||
179,000,000 | 2.200 | 04/03/09 | 178,983,816 | |||||||||||
180,000,000 | 3.240 | 04/03/09 | 180,454,666 | |||||||||||
233,000,000 | 0.200 | 04/06/09 | 232,953,400 |
The accompanying notes are an integral part of these financial statements.
5
Schedule of Investments
Financial Square Federal Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Federal Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Agency Obligations (continued) | ||||||||||||||
Federal Home Loan Bank (continued) | ||||||||||||||
$ | 432,017,000 | 0.360 | % | 04/06/09 | $ | 431,861,474 | ||||||||
425,000,000 | 1.221 | (a) | 04/08/09 | 424,956,461 | ||||||||||
188,000,000 | 1.900 | 04/09/09 | 188,291,520 | |||||||||||
113,000,000 | 2.200 | 04/09/09 | 113,210,886 | |||||||||||
230,000,000 | 0.354 | 04/13/09 | 229,902,748 | |||||||||||
363,000,000 | 1.254 | (a) | 04/13/09 | 363,000,000 | ||||||||||
642,000,000 | 0.985 | (a) | 04/14/09 | 642,002,469 | ||||||||||
522,276,000 | 0.200 | 04/15/09 | 522,145,431 | |||||||||||
370,000,000 | 0.364 | 04/15/09 | 369,831,650 | |||||||||||
425,000,000 | 0.908 | (a) | 04/16/09 | 424,945,266 | ||||||||||
247,000,000 | 0.350 | 04/17/09 | 246,887,135 | |||||||||||
91,000,000 | 0.400 | 04/27/09 | 90,942,367 | |||||||||||
40,000,000 | 1.094 | (a) | 05/05/09 | 39,991,953 | ||||||||||
121,000,000 | 2.550 | 05/05/09 | 120,997,563 | |||||||||||
102,000,000 | 2.500 | 05/07/09 | 101,988,821 | |||||||||||
664,663,000 | 0.390 | 05/08/09 | 664,173,365 | |||||||||||
350,000,000 | 0.394 | 05/08/09 | 349,739,522 | |||||||||||
613,800,000 | 1.171 | (a) | 05/10/09 | 612,810,502 | ||||||||||
345,000,000 | 0.394 | 05/13/09 | 344,724,364 | |||||||||||
287,000,000 | 1.800 | 05/14/09 | 285,938,100 | |||||||||||
166,039,000 | 0.430 | 05/18/09 | 165,884,307 | |||||||||||
208,619,000 | 0.850 | 05/18/09 | 208,234,793 | |||||||||||
455,000,000 | 0.408 | 05/22/09 | 454,577,153 | |||||||||||
625,000,000 | 0.390 | 05/26/09 | 624,417,708 | |||||||||||
315,000,000 | 1.180 | 05/29/09 | 314,081,075 | |||||||||||
165,000,000 | 0.500 | 06/01/09 | 164,789,167 | |||||||||||
224,000,000 | 1.180 | 06/05/09 | 223,295,147 | |||||||||||
414,000,000 | 0.500 | 06/22/09 | 413,350,250 | |||||||||||
224,000,000 | 3.170 | 06/23/09 | 224,001,011 | |||||||||||
271,000,000 | 0.500 | 06/25/09 | 270,563,389 | |||||||||||
182,000,000 | 5.375 | 07/17/09 | 185,372,161 | |||||||||||
120,000,000 | 0.450 | 07/21/09 | 119,787,000 | |||||||||||
240,000,000 | 0.538 | 07/24/09 | 239,479,933 | |||||||||||
269,000,000 | 0.444 | 01/15/10 | 269,000,000 | |||||||||||
Total U.S. Government Agency Obligations | $ | 30,241,170,834 | ||||||||||||
U.S. Treasury Obligations—9.2% | ||||||||||||||
United States Treasury Bills | ||||||||||||||
360,000,000 | 0.100 | 03/19/09 | 359,982,000 | |||||||||||
29,000,000 | 0.125 | 03/19/09 | 28,998,188 | |||||||||||
55,000,000 | 0.170 | 03/19/09 | 54,995,325 | |||||||||||
44,000,000 | 0.245 | 03/19/09 | 43,994,610 | |||||||||||
220,000,000 | 0.250 | 03/19/09 | 219,972,500 | |||||||||||
826,000,000 | 0.290 | 03/26/09 | 825,833,653 | |||||||||||
796,000,000 | 0.180 | 04/09/09 | 795,844,780 | |||||||||||
311,260,000 | 0.320 | 05/21/09 | 311,035,893 | |||||||||||
15,000,000 | 0.265 | 05/28/09 | 14,990,283 | |||||||||||
31,000,000 | 0.275 | 05/28/09 | 30,979,161 | |||||||||||
41,000,000 | 0.300 | 05/28/09 | 40,968,033 | |||||||||||
57,000,000 | 0.313 | (b) | 06/04/09 | 56,954,974 | ||||||||||
250,000,000 | 0.705 | 12/17/09 | 248,575,313 | |||||||||||
Total U.S. Treasury Obligations | $ | 3,033,124,713 | ||||||||||||
Total Investments—100.5% | $ | 33,274,295,547 | ||||||||||||
Liabilities in Excess of Other Assets—(0.5)% | (160,052,660 | ) | ||||||||||||
Net Assets—100.0% | $ | 33,114,242,887 | ||||||||||||
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 U.S. Treasury Bill Rate, London Interbank Offered Rate, Prime Lending Rate or Federal Funds Rate. Interest rate disclosed is that which is in effect at February 28, 2009. | |
(b) | All or a 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 floating rate securities.
The accompanying notes are an integral part of these financial statements.
6
Schedule of Investments
Financial Square Government Fund
Financial Square Government Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Guarantee Commercial Paper*—3.5% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 63,800,000 | 0.690 | % | 07/27/09 | $ | 63,619,021 | ||||||||
General Electric Capital Corp. | ||||||||||||||
415,000,000 | 0.600 | 06/05/09 | 414,336,000 | |||||||||||
415,000,000 | 0.600 | 06/08/09 | 414,315,250 | |||||||||||
360,000,000 | 0.600 | 06/09/09 | 359,400,000 | |||||||||||
375,000,000 | 0.850 | 07/22/09 | 373,733,854 | |||||||||||
375,000,000 | 0.850 | 07/23/09 | 373,725,000 | |||||||||||
400,000,000 | 0.850 | 07/27/09 | 398,602,222 | |||||||||||
Total U.S. Government Guarantee Commercial Paper | $ | 2,397,731,347 | ||||||||||||
U.S. Government Guarantee Notes*—1.2% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 445,000,000 | 0.540 | % | 05/14/09 | $ | 445,000,000 | ||||||||
350,000,000 | 0.700 | 08/05/09 | 350,000,000 | |||||||||||
Total U.S. Government Guarantee Notes | $ | 795,000,000 | ||||||||||||
U.S. Government Guarantee Variable Rate Obligation*(a)(b)—0.9% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 595,000,000 | 1.234 | % | 04/29/09 | $ | 595,000,000 | ||||||||
U.S. Government Agency Obligations—48.4% | ||||||||||||||
Federal Home Loan Bank | ||||||||||||||
$ | 750,000,000 | 0.335 | %(a) | 03/02/09 | $ | 749,941,795 | ||||||||
725,000,000 | 0.470 | (a) | 03/02/09 | 725,000,000 | ||||||||||
269,000,000 | 0.550 | (a) | 03/02/09 | 269,000,000 | ||||||||||
75,000,000 | 0.820 | (a) | 03/02/09 | 75,000,000 | ||||||||||
308,000,000 | 0.940 | (a)(c) | 03/02/09 | 308,000,000 | ||||||||||
500,000,000 | 2.040 | (a) | 03/04/09 | 499,990,272 | ||||||||||
675,000,000 | 1.466 | (a) | 03/27/09 | 675,000,000 | ||||||||||
200,000,000 | 2.200 | 04/03/09 | 199,981,918 | |||||||||||
550,000,000 | 0.200 | 04/06/09 | 549,890,000 | |||||||||||
849,925,000 | 1.223 | (a) | 04/09/09 | 849,791,326 | ||||||||||
250,000,000 | 0.354 | 04/13/09 | 249,894,292 | |||||||||||
275,000,000 | 0.364 | 04/15/09 | 274,874,875 | |||||||||||
150,000,000 | 0.400 | 04/27/09 | 149,905,000 | |||||||||||
134,000,000 | 0.994 | (a) | 04/30/09 | 133,993,831 | ||||||||||
936,893,000 | 1.500 | 05/05/09 | 934,355,582 | |||||||||||
725,000,000 | 1.101 | (a) | 05/07/09 | 725,040,586 | ||||||||||
375,000,000 | 0.394 | 05/08/09 | 374,720,917 | |||||||||||
905,000,000 | 1.171 | (a) | 05/10/09 | 903,541,062 | ||||||||||
553,000,000 | 1.500 | 05/11/09 | 551,364,042 | |||||||||||
100,000,000 | 0.394 | 05/13/09 | 99,920,106 | |||||||||||
120,000,000 | 1.500 | 05/13/09 | 119,635,000 | |||||||||||
400,000,000 | 1.800 | 05/13/09 | 398,540,000 | |||||||||||
590,700,000 | 0.500 | 06/22/09 | 589,772,929 | |||||||||||
1,000,000,000 | 0.500 | 07/06/09 | 998,236,111 | |||||||||||
244,900,000 | 0.700 | 01/08/10 | 243,409,511 | |||||||||||
76,500,000 | 0.750 | 01/08/10 | 76,001,156 | |||||||||||
444,000,000 | 0.444 | 01/15/10 | 444,000,000 | |||||||||||
659,800,000 | 0.940 | 01/19/10 | 654,218,092 | |||||||||||
100,000,000 | 0.870 | 01/26/10 | 99,918,202 | |||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
550,000,000 | 0.670 | (a) | 03/02/09 | 550,000,000 | ||||||||||
500,000,000 | 0.770 | (a) | 03/02/09 | 500,000,000 | ||||||||||
500,000,000 | 2.001 | (a) | 03/05/09 | 499,859,168 | ||||||||||
100,000,000 | 2.330 | 03/09/09 | 99,948,222 | |||||||||||
18,182,000 | 2.340 | 03/09/09 | 18,172,545 | |||||||||||
100,000,000 | 2.350 | 03/09/09 | 99,947,778 | |||||||||||
25,450,000 | 1.300 | 03/16/09 | 25,436,215 | |||||||||||
750,000,000 | 0.446 | (a) | 03/19/09 | 749,562,701 | ||||||||||
150,000,000 | 1.400 | 03/19/09 | 149,895,000 | |||||||||||
500,000,000 | 0.453 | (a) | 03/23/09 | 500,000,000 | ||||||||||
1,864,655,000 | 1.331 | (a)(c) | 03/25/09 | 1,867,757,786 | ||||||||||
200,000,000 | 2.450 | 04/09/09 | 200,000,000 | |||||||||||
1,000,000,000 | 1.254 | (a) | 04/13/09 | 1,000,000,000 | ||||||||||
1,750,000,000 | 1.200 | 05/12/09 | 1,745,800,000 | |||||||||||
147,000,000 | 0.380 | 05/26/09 | 146,866,557 | |||||||||||
750,000,000 | 1.200 | 06/08/09 | 747,525,000 | |||||||||||
250,000,000 | 5.000 | 06/11/09 | 251,269,333 | |||||||||||
350,000,000 | 0.460 | 06/29/09 | 349,411,336 | |||||||||||
219,445,000 | 0.470 | 06/29/09 | 219,153,200 | |||||||||||
147,000,000 | 0.598 | 08/24/09 | 146,570,237 | |||||||||||
640,000,000 | 0.700 | 09/21/09 | 637,461,333 | |||||||||||
Federal National Mortgage Association | ||||||||||||||
250,000,000 | 0.460 | (a) | 03/02/09 | 249,987,448 | ||||||||||
390,000,000 | 0.470 | (a) | 03/02/09 | 389,991,522 | ||||||||||
600,000,000 | 0.550 | (a) | 03/02/09 | 599,900,473 | ||||||||||
100,000,000 | 2.430 | 03/11/09 | 99,932,500 | |||||||||||
850,000,000 | 1.500 | 04/01/09 | 848,902,083 | |||||||||||
1,000,000,000 | 1.000 | 04/03/09 | 999,083,333 | |||||||||||
202,000,000 | 1.350 | 04/08/09 | 201,712,150 | |||||||||||
300,000,000 | 1.244 | (a) | 04/13/09 | 299,876,518 | ||||||||||
52,000,000 | 2.990 | 04/15/09 | 51,805,650 | |||||||||||
755,000,000 | 0.250 | 04/17/09 | 754,753,576 | |||||||||||
1,000,000,000 | 0.700 | 04/20/09 | 999,027,778 | |||||||||||
500,000,000 | 1.024 | (a) | 04/28/09 | 499,941,985 | ||||||||||
250,000,000 | 0.850 | 05/11/09 | 249,580,903 | |||||||||||
250,000,000 | 1.200 | 05/11/09 | 249,408,333 | |||||||||||
750,000,000 | 1.800 | 05/28/09 | 746,700,000 | |||||||||||
100,000,000 | 4.570 | 06/15/09 | 100,550,600 | |||||||||||
499,773,000 | 0.510 | 06/24/09 | 498,958,787 | |||||||||||
1,200,000,000 | 0.700 | 09/21/09 | 1,195,240,000 |
The accompanying notes are an integral part of these financial statements.
7
Schedule of Investments
Financial Square Government Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Government Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Agency Obligations (continued) | ||||||||||||||
Federal National Mortgage Association (continued) | ||||||||||||||
$ | 190,200,000 | 0.650 | % | 12/29/09 | $ | 189,159,448 | ||||||||
162,000,000 | 1.000 | 02/04/10 | 160,470,000 | |||||||||||
Total U.S. Government Agency Obligations | $ | 32,812,556,103 | ||||||||||||
Total Investments Before Repurchase Agreements | $ | 36,600,287,450 | ||||||||||||
Repurchase Agreements-Unaffiliated Issuers(d)—47.1% | ||||||||||||||
Banc of America Securities LLC | ||||||||||||||
2,000,000,000 | 0.280 | % | 04/08/09 | 2,000,000,000 | ||||||||||
Maturity Value: $2,001,337,778 | ||||||||||||||
Settlement Date: 01/12/09 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 5.000% to 5.500%, due 01/01/38 to 01/01/39 and Federal National Mortgage Association, 5.000% to 5.500%, due 06/01/35 to 06/01/38. The aggregate market value of the collateral, including accrued interest, was $2,059,999,997. | ||||||||||||||
1,000,000,000 | 0.290 | 04/17/09 | 1,000,000,000 | |||||||||||
Maturity Value: $1,000,749,167 | ||||||||||||||
Settlement Date: 01/14/09 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 5.000% due 01/01/39 and Federal National Mortgage Association, 5.500% due 12/01/34. The aggregate market value of the collateral, including accrued interest, was $1,029,999,999. | ||||||||||||||
Barclays Capital, Inc. | ||||||||||||||
125,000,000 | 0.250 | 03/02/09 | 125,000,000 | |||||||||||
Maturity Value: $125,002,604 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 5.000%, due 02/01/39 and Government National Mortgage Association, 6.000%, due 08/20/38. The aggregate market value of the collateral, including accrued interest, was $127,499,997. | ||||||||||||||
Deutsche Bank Securities, Inc. | ||||||||||||||
150,000,000 | 0.290 | 03/02/09 | 150,000,000 | |||||||||||
Maturity Value: $150,003,625 | ||||||||||||||
1,225,000,000 | 0.450 | 04/08/09 | 1,225,000,000 | |||||||||||
Maturity Value: $1,225,643,125 | ||||||||||||||
Settlement Date: 02/25/09 | ||||||||||||||
Deutsche Bank Securities, Inc. | ||||||||||||||
1,000,000,000 | 0.280 | 04/15/09 | 1,000,000,000 | |||||||||||
Maturity Value: $1,000,707,778 | ||||||||||||||
Settlement Date: 01/14/09 | ||||||||||||||
Repurchase agreements issued by Deutsche Bank Securities, Inc., with a total amortized cost of $2,375,000,000, are collateralized by Federal Home Loan Mortgage Corp., 5.000%, due 03/01/38 and Federal National Mortgage Association, 4.500% to 8.500% due 06/01/19 to 06/01/47. The aggregate market value of the collateral, including accrued interest, was $2,446,249,720. | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
99,600,000 | 0.252 | 03/02/09 | 99,600,000 | |||||||||||
Maturity Value: $99,602,092 | ||||||||||||||
Joint Repurchase Agreement Account II | ||||||||||||||
22,330,000,000 | 0.274 | 03/02/09 | 22,330,000,000 | |||||||||||
Maturity Value: $22,330,509,868 | ||||||||||||||
UBS Securities LLC | ||||||||||||||
114,700,000 | 0.230 | 03/02/09 | 114,700,000 | |||||||||||
Maturity Value: $114,702,198 | ||||||||||||||
Collateralized by U.S. Treasury Bill, 0.000% due 08/27/09. The market value of the collateral, including accrued interest, was $116,995,586. | ||||||||||||||
880,000,000 | 0.370 | 03/12/09 | 880,000,000 | |||||||||||
Maturity Value: $880,262,289 | ||||||||||||||
Settlement Date: 02/11/09 | ||||||||||||||
Collateralized by Federal National Mortgage Association, 4.000% to 6.500%, due 01/01/19 to 02/01/39. The aggregate market value of the collateral, including accrued interest, was $897,603,167. | ||||||||||||||
890,000,000 | 0.400 | 03/12/09 | 890,000,000 | |||||||||||
Maturity Value: $890,276,889 | ||||||||||||||
Settlement Date: 02/12/09 | ||||||||||||||
Collateralized by Federal National Mortgage Association, 4.500% to 6.500%, due 02/01/18 to 01/01/48. The aggregate market value of the collateral, including accrued interest, was $907,801,132. | ||||||||||||||
500,000,000 | 0.450 | 04/03/09 | 500,000,000 | |||||||||||
Maturity Value: $500,231,250 | ||||||||||||||
Settlement Date: 02/25/09 | ||||||||||||||
Collateralized by Federal National Mortgage Association, 5.500% to 7.000%, due 11/01/22 to 01/01/48. The aggregate market value of the collateral, including accrued interest, was $510,004,528. | ||||||||||||||
900,000,000 | 0.450 | 04/06/09 | 900,000,000 | |||||||||||
Maturity Value: $900,427,500 | ||||||||||||||
Settlement Date: 02/27/09 | ||||||||||||||
Collateralized by Federal National Mortgage Association, 4.000% to 7.000%, due 01/01/16 to 07/01/47. The aggregate market value of the collateral, including accrued interest, was $918,002,569. |
The accompanying notes are an integral part of these financial statements.
8
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Repurchase Agreements-Unaffiliated Issuers(d) (continued) | ||||||||||||||
UBS Securities LLC (continued) | ||||||||||||||
$ | 750,000,000 | 0.450 | % | 04/09/09 | $ | 750,000,000 | ||||||||
Maturity Value: $750,534,375 | ||||||||||||||
Settlement Date: 02/11/09 | ||||||||||||||
Collateralized by Federal National Mortgage Association, 4.500% to 6.500%, due 05/01/18 to 09/01/47. The aggregate market value of the collateral, including accrued interest, was $765,003,087. | ||||||||||||||
Total Repurchase Agreements-Unaffiliated Issuers | $ | 31,964,300,000 | ||||||||||||
Repurchase Agreements-Affiliated Issuers(d)—1.6% | ||||||||||||||
Goldman, Sachs & Co. | ||||||||||||||
$ | 50,000,000 | 0.260 | % | 03/02/09 | $ | 50,000,000 | ||||||||
Maturity Value: $50,001,083 | ||||||||||||||
Collateralized by Government National Mortgage Association., 6.000%, due 11/15/38. The market value of the collateral, including accrued interest, was $51,500,000. | ||||||||||||||
1,000,000,000 | 0.270 | 03/02/09 | 1,000,000,000 | |||||||||||
Maturity Value: $1,000,022,500 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.500% to 6.500%, due 05/01/19 to 02/01/39 and Federal National Mortgage Association, 4.000% to 7.000%, due 01/01/17 to 03/01/39. The aggregate market value of the collateral, including accrued interest, was $1,029,999,883. | ||||||||||||||
Total Repurchase Agreements-Affiliated Issuers | $ | 1,050,000,000 | ||||||||||||
Total Investments—102.7% | $ | 69,614,587,450 | ||||||||||||
Liabilities in Excess of Other Assets—(2.7%) | (1,799,264,706 | ) | ||||||||||||
Net Assets—100.0% | $ | 67,815,322,744 | ||||||||||||
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
* | Securities issued under the Federal Deposit Insurance Corporation Temporary Liquidity Guarantee Program. | |
(a) | Variable or floating rate security index is based on U.S. Treasury Bill rate, London Interbank Offered Rate, Prime Lending Rate or Federal Funds rate. Interest rate disclosed is that which is in effect at February 28, 2009. | |
(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 February 28, 2009, these securities amounted to $595,000,000 or approximately 0.9% of net assets. | |
(c) | All or a portion represents a forward commitment. | |
(d) | Unless noted, all repurchase agreements were entered into on February 27, 2009. Additional information on Joint Repurchase Agreement Accounts I & II appears on pages 46-47. |
Maturity dates represent either the stated date on the security or the next interest reset date for floating rate securities.
The accompanying notes are an integral part of these financial statements.
9
Schedule of Investments
Financial Square Money Market Fund
Financial Square Money Market Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Commercial Paper and Corporate Obligations—22.6% | ||||||||||||||
Amstel Funding Corp. | ||||||||||||||
$ | 150,000,000 | 3.000 | % | 03/04/09 | $ | 149,962,500 | ||||||||
100,000,000 | 2.650 | 03/13/09 | 99,911,667 | |||||||||||
Amsterdam Funding Corp. | ||||||||||||||
56,750,000 | 0.880 | 05/08/09 | 56,655,669 | |||||||||||
185,000,000 | 0.850 | 05/27/09 | 184,619,979 | |||||||||||
Aspen Funding Corp. | ||||||||||||||
50,000,000 | 0.800 | 04/13/09 | 49,952,222 | |||||||||||
Atlantic Asset Securitization Corp. | ||||||||||||||
100,000,000 | 0.400 | 04/08/09 | 99,957,778 | |||||||||||
50,000,000 | 0.400 | 04/09/09 | 49,978,333 | |||||||||||
100,000,000 | 0.450 | 04/15/09 | 99,943,750 | |||||||||||
98,000,000 | 0.720 | 05/08/09 | 97,866,720 | |||||||||||
64,540,000 | 0.700 | 05/12/09 | 64,449,644 | |||||||||||
Atlantis One Funding Corp. | ||||||||||||||
100,000,000 | 0.700 | 04/30/09 | 99,883,333 | |||||||||||
73,000,000 | 0.750 | 05/04/09 | 72,902,667 | |||||||||||
90,000,000 | 0.750 | 05/14/09 | 89,861,250 | |||||||||||
Banco Bilbao Vizcaya Argentaria SA | ||||||||||||||
200,000,000 | 0.995 | 07/13/09 | 199,259,278 | |||||||||||
Barton Capital LLC | ||||||||||||||
72,452,000 | 0.400 | 04/14/09 | 72,416,579 | |||||||||||
Cafco LLC | ||||||||||||||
100,000,000 | 1.300 | 03/11/09 | 99,963,889 | |||||||||||
Charta LLC | ||||||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
Ciesco LLC | ||||||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
Citibank Credit Card Issuance Trust (Dakota Corp.) | ||||||||||||||
50,000,000 | 1.100 | 03/10/09 | 49,986,250 | |||||||||||
CRC Funding LLC | ||||||||||||||
100,000,000 | 1.300 | 03/11/09 | 99,963,889 | |||||||||||
Enterprise Funding Co. LLC | ||||||||||||||
80,325,000 | 1.150 | 03/17/09 | 80,283,945 | |||||||||||
132,071,000 | 1.250 | 03/19/09 | 131,988,456 | |||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
Gemini Securitization Corp. | ||||||||||||||
100,000,000 | 1.900 | 03/04/09 | 99,984,167 | |||||||||||
205,000,000 | 1.550 | 03/09/09 | 204,929,389 | |||||||||||
50,000,000 | 0.770 | 04/16/09 | 49,950,805 | |||||||||||
75,000,000 | 0.900 | 04/28/09 | 74,891,250 | |||||||||||
46,983,000 | 0.900 | 05/01/09 | 46,911,351 | |||||||||||
Govco LLC | ||||||||||||||
100,000,000 | 0.400 | 04/13/09 | 99,952,222 | |||||||||||
50,000,000 | 1.250 | 06/24/09 | 49,800,347 | |||||||||||
JPMorgan Chase & Co. | ||||||||||||||
250,000,000 | 1.700 | 03/03/09 | 249,976,389 | |||||||||||
Liberty Street Funding LLC | ||||||||||||||
175,000,000 | 1.650 | 03/13/09 | 174,903,750 | |||||||||||
LMA Americas LLC | ||||||||||||||
123,100,000 | 0.750 | 04/14/09 | 122,987,153 | |||||||||||
50,000,000 | 0.720 | 04/24/09 | 49,946,000 | |||||||||||
145,500,000 | 0.875 | 05/07/09 | 145,263,057 | |||||||||||
99,600,000 | 0.900 | 05/29/09 | 99,378,390 | |||||||||||
Newport Funding Corp. | ||||||||||||||
40,000,000 | 1.000 | 05/06/09 | 39,926,667 | |||||||||||
Old Line Funding Corp. | ||||||||||||||
80,289,000 | 1.450 | 03/09/09 | 80,263,129 | |||||||||||
98,743,000 | 0.400 | 04/14/09 | 98,694,725 | |||||||||||
Ranger Funding Co. LLC | ||||||||||||||
100,000,000 | 1.150 | 03/16/09 | 99,952,083 | |||||||||||
100,000,000 | 0.400 | 04/13/09 | 99,952,222 | |||||||||||
Salisbury Receivables Co. LLC | ||||||||||||||
50,000,000 | 1.400 | 03/06/09 | 49,990,278 | |||||||||||
Sheffield Receivables Corp. | ||||||||||||||
50,000,000 | 1.400 | 03/06/09 | 49,990,278 | |||||||||||
Societe Generale | ||||||||||||||
200,000,000 | 0.860 | 04/01/09 | 199,851,889 | |||||||||||
Thames Asset Global Securitization, Inc. | ||||||||||||||
141,686,000 | 1.450 | 03/09/09 | 141,640,346 | |||||||||||
Variable Funding Capital Corp. | ||||||||||||||
100,000,000 | 1.700 | 03/25/09 | 99,886,667 | |||||||||||
125,000,000 | 0.400 | 04/14/09 | 124,938,889 | |||||||||||
Windmill Funding Corp. | ||||||||||||||
50,000,000 | 0.930 | 05/14/09 | 49,904,417 | |||||||||||
Total Commercial Paper and Corporate Obligations | $ | 4,853,526,991 | ||||||||||||
Certificate of Deposit—0.9% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 187,000,000 | 0.750 | % | 07/06/09 | $ | 187,000,000 | ||||||||
Certificates of Deposit-Eurodollar—2.4% | ||||||||||||||
BNP Paribas SA | ||||||||||||||
$ | 175,000,000 | 1.020 | % | 05/18/09 | $ | 175,003,782 | ||||||||
HSBC Bank PLC | ||||||||||||||
146,000,000 | 1.200 | 07/09/09 | 146,017,956 | |||||||||||
Societe Generale | ||||||||||||||
190,000,000 | 1.010 | 05/05/09 | 190,003,422 | |||||||||||
Total Certificates of Deposit-Eurodollar | $ | 511,025,160 | ||||||||||||
Certificates of Deposit-Yankeedollar—5.7% | ||||||||||||||
Banco Bilbao Vizcaya Argentaria SA | ||||||||||||||
$ | 235,000,000 | 2.230 | % | 03/04/09 | $ | 235,000,195 | ||||||||
BNP Paribas SA | ||||||||||||||
190,000,000 | 0.790 | 04/17/09 | 190,000,000 | |||||||||||
196,000,000 | 1.075 | 07/09/09 | 196,003,519 | |||||||||||
Lloyds TSB Group PLC | ||||||||||||||
270,000,000 | 1.340 | 04/08/09 | 270,000,000 | |||||||||||
190,000,000 | 1.170 | 05/13/09 | 190,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
10
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Certificates of Deposit-Yankeedollar (continued) | ||||||||||||||
Royal Bank of Canada | ||||||||||||||
$ | 150,000,000 | 1.410 | % | 03/09/09 | $ | 150,000,332 | ||||||||
Total Certificates of Deposit-Yankeedollar | $ | 1,231,004,046 | ||||||||||||
U.S. Government Guarantee Commercial Paper*—1.8% | ||||||||||||||
General Electric Capital Co. | ||||||||||||||
$ | 67,000,000 | 0.600 | % | 06/05/09 | $ | 66,892,800 | ||||||||
67,000,000 | 0.600 | 06/08/09 | 66,889,450 | |||||||||||
56,000,000 | 0.600 | 06/09/09 | 55,906,667 | |||||||||||
67,000,000 | 0.850 | 07/22/09 | 66,773,782 | |||||||||||
67,000,000 | 0.850 | 07/23/09 | 66,772,200 | |||||||||||
72,000,000 | 0.850 | 07/27/09 | 71,748,400 | |||||||||||
Total U.S. Government Guarantee Commercial Paper | $ | 394,983,299 | ||||||||||||
U.S. Government Guarantee Variable Rate Obligations*(a)—1.9% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 100,000,000 | 1.234 | % | 04/29/09 | $ | 100,000,000 | ||||||||
Royal Bank of Scotland Group PLC | ||||||||||||||
300,000,000 | 1.341 | 05/09/09 | 300,000,000 | |||||||||||
Total U.S. Government Guarantee Variable Rate Obligations | $ | 400,000,000 | ||||||||||||
Master Demand Note—1.1% | ||||||||||||||
Bank of America Securities LLC | ||||||||||||||
$ | 240,000,000 | 0.650 | % | 03/11/09 | $ | 240,000,000 | ||||||||
U.S. Government Agency Obligations—20.6% | ||||||||||||||
Federal Home Loan Bank | ||||||||||||||
$ | 490,000,000 | 0.335 | %(a) | 03/02/09 | $ | 489,961,973 | ||||||||
400,000,000 | 0.470 | (a) | 03/02/09 | 400,000,000 | ||||||||||
180,000,000 | 0.610 | (a) | 03/02/09 | 180,000,000 | ||||||||||
75,000,000 | 0.940 | (a)(b) | 03/02/09 | 75,000,000 | ||||||||||
80,000,000 | 2.013 | (a) | 03/08/09 | 79,980,055 | ||||||||||
213,000,000 | 2.189 | (a) | 03/10/09 | 213,000,000 | ||||||||||
150,000,000 | 0.329 | (a) | 03/28/09 | 149,943,334 | ||||||||||
200,000,000 | 3.125 | 06/19/09 | 199,974,377 | |||||||||||
200,000,000 | 2.720 | 09/18/09 | 200,000,000 | |||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
310,000,000 | 0.446 | (a) | 03/19/09 | 310,000,000 | ||||||||||
350,000,000 | 1.254 | (a) | 04/13/09 | 350,000,000 | ||||||||||
325,000,000 | 0.850 | 12/29/09 | 322,674,896 | |||||||||||
Federal National Mortgage Association | ||||||||||||||
140,000,000 | 0.460 | (a) | 03/02/09 | 139,992,885 | ||||||||||
150,000,000 | 0.520 | (a) | 03/02/09 | 149,900,645 | ||||||||||
289,000,000 | 1.244 | (a) | 04/13/09 | 288,881,046 | ||||||||||
375,000,000 | 1.200 | 05/11/09 | 374,112,500 | |||||||||||
250,000,000 | 0.650 | 12/28/09 | 248,636,805 | |||||||||||
250,000,000 | 0.650 | 12/29/09 | 248,632,292 | |||||||||||
Total U.S. Government Agency Obligations | $ | 4,420,690,808 | ||||||||||||
Variable Rate Obligations(a)—6.9% | ||||||||||||||
ANZ National Bank Limited | ||||||||||||||
$ | 100,000,000 | 2.409 | % | 03/10/09 | $ | 100,000,000 | ||||||||
Bank of Nova Scotia | ||||||||||||||
175,000,000 | 2.501 | 03/05/09 | 175,000,000 | |||||||||||
BNP Paribas SA | ||||||||||||||
100,000,000 | 1.461 | 05/13/09 | 100,000,000 | |||||||||||
Deutsche Bank AG | ||||||||||||||
95,000,000 | 1.635 | 04/06/09 | 95,000,000 | |||||||||||
ING Bank NV | ||||||||||||||
250,000,000 | 1.716 | 03/26/09 | 250,000,000 | |||||||||||
Lloyds TSB Group PLC | ||||||||||||||
150,000,000 | 1.541 | 05/07/09 | 150,000,000 | |||||||||||
Merrill Lynch & Co., Inc. | ||||||||||||||
140,000,000 | 3.051 | 03/20/09 | 140,089,684 | |||||||||||
National Australia Bank Ltd. | ||||||||||||||
50,000,000 | 2.402 | 03/06/09 | 50,000,000 | |||||||||||
Nordea Bank AB | ||||||||||||||
175,000,000 | 1.509 | 04/24/09 | 175,000,000 | |||||||||||
Rabobank Nederland | ||||||||||||||
150,000,000 | 1.431 | 05/11/09 | 150,000,000 | |||||||||||
Royal Bank of Canada | ||||||||||||||
100,000,000 | 1.537 | 05/15/09 | 100,000,000 | |||||||||||
Total Variable Rate Obligations | $ | 1,485,089,684 | ||||||||||||
Time Deposits—4.9% | ||||||||||||||
BNP Paribas SA | ||||||||||||||
$ | 400,000,000 | 0.320 | % | 03/02/09 | $ | 400,000,000 | ||||||||
Lloyds TSB Bank PLC | ||||||||||||||
250,000,000 | 0.340 | 03/02/09 | 250,000,000 | |||||||||||
Societe Generale | ||||||||||||||
400,000,000 | 0.281 | 03/02/09 | 400,000,000 | |||||||||||
Total Time Deposits | $ | 1,050,000,000 | ||||||||||||
Total Investments Before Repurchase Agreements | $ | 14,773,319,988 | ||||||||||||
Repurchase Agreements-Unaffiliated Issuers(c)—28.0% | ||||||||||||||
Barclays Capital, Inc. | ||||||||||||||
$ | 100,000,000 | 0.250 | % | 03/02/09 | $ | 100,000,000 | ||||||||
Maturity Value: $100,002,083 | ||||||||||||||
Collateralized by Federal National Mortgage Association, 4.100%, due 12/17/18. The market value of the collateral, including accrued interest, was $102,000,351. | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
11
Schedule of Investments
Financial Square Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Repurchase Agreements-Unaffiliated Issuers(c) (continued) | ||||||||||||||
Deutsche Bank Securities, Inc. | ||||||||||||||
$ | 100,000,000 | 0.290 | % | 03/02/09 | $ | 100,000,000 | ||||||||
Maturity Value: $100,002,417 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 7.000%, due 08/01/38. The market value of the collateral, including accrued interest, was $103,000,000. | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
79,400,000 | 0.252 | 03/02/09 | 79,400,000 | |||||||||||
Maturity Value: $79,401,667 | ||||||||||||||
Joint Repurchase Agreement Account II | ||||||||||||||
5,700,100,000 | 0.274 | 03/02/09 | 5,700,100,000 | |||||||||||
Maturity Value: $5,700,230,152 | ||||||||||||||
UBS Securities LLC | ||||||||||||||
24,000,000 | 0.230 | 03/02/09 | 24,000,000 | |||||||||||
Maturity Value: $24,000,460 | ||||||||||||||
Collateralized by U.S. Treasury Bill, 0.000%, due 08/27/09. The market value of the collateral, including accrued interest, was $24,482,575. | ||||||||||||||
Total Repurchase Agreements-Unaffiliated Issuers | $ | 6,003,500,000 | ||||||||||||
Repurchase Agreements-Affiliated Issuers(c)—3.8% | ||||||||||||||
Goldman, Sachs & Co. | ||||||||||||||
$ | 75,000,000 | 0.260 | % | 03/02/09 | $ | 75,000,000 | ||||||||
Maturity Value: $75,001,625 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.000% to 9.000%, due 06/01/12 to 02/01/39 and Federal National Mortgage Association, 4.000% to 8.500%, due 07/01/11 to 05/01/48. The aggregate market value of the collateral, including accrued interest, was $77,249,308. | ||||||||||||||
$ | 750,000,000 | 0.270 | % | 03/02/09 | $ | 750,000,000 | ||||||||
Maturity Value: $750,016,875 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.500% to 7.500%, due 04/01/18 to 01/01/2039 and Federal National Mortgage Association, 4.500% to 7.500%, due 08/01/17 to 01/01/39. The aggregate market value of the collateral, including accrued interest, was $772,499,868. | ||||||||||||||
Total Repurchase Agreements-Affiliated Issuers | $ | 825,000,000 | ||||||||||||
Total Investments—100.6% | $ | 21,601,819,988 | ||||||||||||
Liabilities in Excess of Other Assets—(0.6)% | (127,243,517 | ) | ||||||||||||
Net Assets—100.0% | $ | 21,474,576,471 | ||||||||||||
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
* | Securities issued under the Federal Deposit Insurance Corporation Temporary Liquidity Guarantee Program. | |
(a) | Variable or floating rate security index is based on the U.S. Treasury Bill Rate, London Interbank Offering Rate, Prime Lending Rate or Federal Funds Rate. Interest rate disclosed is that which is in effect at February 28, 2009. | |
(b) | All or a portion represents a forward commitment. | |
(c) | Unless noted, all repurchase agreements were entered into on February 27, 2009. Additional information on Joint Repurchase Agreement Accounts I & II appears on pages 46-47. |
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.
The accompanying notes are an integral part of these financial statements.
12
Schedule of Investments
Financial Square Prime Obligations Fund
Financial Square Prime Obligations Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Commercial Paper and Corporate Obligations—26.0% | ||||||||||||||
Amsterdam Funding Corp. | ||||||||||||||
$ | 150,000,000 | 0.450 | % | 04/03/09 | $ | 149,938,125 | ||||||||
150,400,000 | 0.880 | 05/08/09 | 150,150,002 | |||||||||||
Aspen Funding Corp. | ||||||||||||||
130,061,000 | 0.400 | 03/02/09 | 130,059,555 | |||||||||||
180,000,000 | 1.000 | 05/06/09 | 179,670,000 | |||||||||||
50,000,000 | 1.000 | 05/11/09 | 49,901,389 | |||||||||||
Atlantic Asset Securitization Corp. | ||||||||||||||
150,000,000 | 0.400 | 04/09/09 | 149,935,000 | |||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
200,000,000 | 0.650 | 05/04/09 | 199,768,889 | |||||||||||
150,000,000 | 0.700 | 05/12/09 | 149,790,000 | |||||||||||
Atlantis One Funding Corp. | ||||||||||||||
200,000,000 | 0.700 | 04/30/09 | 199,766,667 | |||||||||||
110,000,000 | 0.750 | 05/04/09 | 109,853,334 | |||||||||||
300,000,000 | 0.750 | 05/14/09 | 299,537,500 | |||||||||||
Barton Capital LLC | ||||||||||||||
117,009,000 | 0.450 | 04/08/09 | 116,953,421 | |||||||||||
51,895,000 | 0.700 | 05/08/09 | 51,826,383 | |||||||||||
218,518,000 | 0.700 | 05/11/09 | 218,216,324 | |||||||||||
Charta LLC | ||||||||||||||
250,000,000 | 0.400 | 03/20/09 | 249,947,222 | |||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
Ciesco LLC | ||||||||||||||
250,000,000 | 0.400 | 03/20/09 | 249,947,222 | |||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
Enterprise Funding Co. LLC | ||||||||||||||
200,000,000 | 0.400 | 04/14/09 | 199,902,222 | |||||||||||
Gemini Securitization Corp. | ||||||||||||||
125,000,000 | 1.900 | 03/04/09 | 124,980,208 | |||||||||||
120,000,000 | 0.800 | 03/18/09 | 119,954,667 | |||||||||||
145,000,000 | 0.770 | 04/16/09 | 144,857,336 | |||||||||||
100,000,000 | 0.900 | 04/28/09 | 99,855,000 | |||||||||||
105,000,000 | 0.900 | 05/12/09 | 104,811,000 | |||||||||||
80,000,000 | 0.900 | 05/20/09 | 79,840,000 | |||||||||||
Govco LLC | ||||||||||||||
150,000,000 | 0.400 | 03/27/09 | 149,956,667 | |||||||||||
100,000,000 | 0.400 | 04/13/09 | 99,952,222 | |||||||||||
50,000,000 | 1.250 | 06/24/09 | 49,800,347 | |||||||||||
100,000,000 | 1.250 | 06/25/09 | 99,597,222 | |||||||||||
JPMorgan Chase & Co. | ||||||||||||||
760,000,000 | 0.850 | 08/10/09 | 757,093,000 | |||||||||||
Jupiter Secturitization Corp. | ||||||||||||||
100,000,000 | 0.500 | 04/22/09 | 99,927,778 | |||||||||||
Liberty Street Funding LLC | ||||||||||||||
100,000,000 | 0.750 | 05/05/09 | 99,864,583 | |||||||||||
100,000,000 | 0.750 | 05/13/09 | 99,847,917 | |||||||||||
150,000,000 | 0.750 | 05/20/09 | 149,750,000 | |||||||||||
LMA Americas LLC | ||||||||||||||
175,000,000 | 1.000 | 03/17/09 | 174,922,222 | |||||||||||
80,000,000 | 0.720 | 04/24/09 | 79,913,600 | |||||||||||
Newport Funding Corp. | ||||||||||||||
136,218,000 | 0.400 | 03/02/09 | 136,216,487 | |||||||||||
75,000,000 | 0.800 | 04/13/09 | 74,928,333 | |||||||||||
80,000,000 | 1.000 | 05/06/09 | 79,853,333 | |||||||||||
50,000,000 | 1.000 | 05/11/09 | 49,901,389 | |||||||||||
Old Line Funding Corp. | ||||||||||||||
100,000,000 | 0.400 | 04/14/09 | 99,951,111 | |||||||||||
193,715,000 | 0.650 | 07/09/09 | 193,260,308 | |||||||||||
Ranger Funding Co. LLC | ||||||||||||||
100,000,000 | 1.150 | 03/16/09 | 99,952,083 | |||||||||||
100,000,000 | 0.700 | 05/18/09 | 99,848,333 | |||||||||||
Thames Asset Global Securitization, Inc. | ||||||||||||||
123,347,000 | 1.100 | 03/16/09 | 123,290,466 | |||||||||||
Thunder Bay Funding, Inc. | ||||||||||||||
50,178,000 | 0.650 | 07/09/09 | 50,060,221 | |||||||||||
Ticonderoga Funding LLC | ||||||||||||||
53,142,000 | 0.700 | 05/14/09 | 53,065,535 | |||||||||||
Variable Funding Capital Corp. | ||||||||||||||
330,000,000 | 1.700 | 03/25/09 | 329,626,000 | |||||||||||
500,000,000 | 0.650 | 04/10/09 | 499,638,889 | |||||||||||
270,000,000 | 1.150 | 08/10/09 | 268,602,750 | |||||||||||
Windmill Funding Corp. | ||||||||||||||
100,000,000 | 0.450 | 04/03/09 | 99,958,750 | |||||||||||
50,000,000 | 0.500 | 04/03/09 | 49,977,083 | |||||||||||
250,000,000 | 0.530 | 04/06/09 | 249,867,500 | |||||||||||
150,000,000 | 0.880 | 05/07/09 | 149,754,333 | |||||||||||
160,000,000 | 0.880 | 05/08/09 | 159,734,045 | |||||||||||
89,000,000 | 0.930 | 05/14/09 | 88,829,862 | |||||||||||
345,000,000 | 0.900 | 05/18/09 | 344,327,250 | |||||||||||
Yorktown Capital LLC | ||||||||||||||
90,759,000 | 0.450 | 04/09/09 | 90,714,755 | |||||||||||
Total Commercial Paper and Corporate Obligations | $ | 9,081,299,173 | ||||||||||||
Bank Notes—3.5% | ||||||||||||||
Wells Fargo & Co. | ||||||||||||||
$ | 220,000,000 | 3.552 | % | 05/01/09 | $ | 220,018,639 | ||||||||
Wells Fargo Bank N.A. | ||||||||||||||
245,000,000 | 1.538 | 03/23/09 | 245,035,319 | |||||||||||
745,000,000 | 2.950 | 05/29/09 | 745,000,000 | |||||||||||
Total Bank Notes | $ | 1,210,053,958 | ||||||||||||
Certificate of Deposit—0.3% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 100,000,000 | 0.750 | % | 07/06/09 | $ | 100,000,000 | ||||||||
U.S. Government Guarantee Commercial Paper*—2.0% | ||||||||||||||
General Electric Capital Corp. | ||||||||||||||
$ | 122,500,000 | 0.600 | % | 06/05/09 | $ | 122,304,000 | ||||||||
122,500,000 | 0.600 | 06/08/09 | 122,297,875 |
The accompanying notes are an integral part of these financial statements.
13
Schedule of Investments
Financial Square Prime Obligations Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Prime Obligations Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Government Guarantee Commercial Paper (continued) | ||||||||||||||
General Electric Capital Corp. (continued) | ||||||||||||||
$ | 105,000,000 | 0.600 | % | 06/09/09 | $ | 104,825,000 | ||||||||
118,000,000 | 0.850 | 07/22/09 | 117,601,586 | |||||||||||
114,000,000 | 0.850 | 07/23/09 | 113,612,400 | |||||||||||
127,500,000 | 0.850 | 07/27/09 | 127,054,459 | |||||||||||
Total U.S. Government Guarantee Commercial Paper | $ | 707,695,320 | ||||||||||||
U.S. Government Guarantee Note*—0.3% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 118,000,000 | 0.700 | % | 08/05/09 | $ | 118,000,000 | ||||||||
U.S. Government Guarantee Variable Rate Obligation*(a)(b)—0.5% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 168,000,000 | 1.234 | % | 04/29/09 | $ | 168,000,000 | ||||||||
Master Demand Note—2.2% | ||||||||||||||
Bank of America Securities LLC | ||||||||||||||
$ | 750,000,000 | 0.650 | % | 03/11/09 | $ | 750,000,000 | ||||||||
U.S. Government Agency Obligations—32.4% | ||||||||||||||
Federal Home Loan Bank | ||||||||||||||
$ | 3,000,000,000 | 0.335 | %(a) | 03/02/09 | $ | 2,999,767,180 | ||||||||
800,000,000 | 0.470 | (a) | 03/02/09 | 800,000,000 | ||||||||||
395,000,000 | 0.610 | (a) | 03/02/09 | 395,000,000 | ||||||||||
160,000,000 | 2.013 | (a) | 03/08/09 | 159,960,110 | ||||||||||
530,000,000 | 2.189 | (a) | 03/10/09 | 530,000,000 | ||||||||||
332,000,000 | 0.329 | (a) | 03/28/09 | 331,874,579 | ||||||||||
400,000,000 | 3.125 | 06/19/09 | 399,948,755 | |||||||||||
245,575,000 | 2.700 | 07/07/09 | 245,562,057 | |||||||||||
450,000,000 | 2.720 | 09/18/09 | 450,000,000 | |||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
1,325,000,000 | 0.446 | (a) | 03/19/09 | 1,325,000,000 | ||||||||||
635,000,000 | 1.254 | (a) | 04/13/09 | 635,000,000 | ||||||||||
385,000,000 | 0.850 | 12/29/09 | 382,245,646 | |||||||||||
Federal National Mortgage Association | ||||||||||||||
600,000,000 | 0.460 | (a) | 03/02/09 | 599,969,508 | ||||||||||
400,000,000 | 0.520 | (a) | 03/02/09 | 399,735,054 | ||||||||||
480,000,000 | 1.244 | (a) | 04/13/09 | 479,802,429 | ||||||||||
461,000,000 | 0.650 | 12/28/09 | 458,486,269 | |||||||||||
375,000,000 | 0.650 | 12/29/09 | 372,948,437 | |||||||||||
350,000,000 | 1.000 | 02/04/10 | 346,694,444 | |||||||||||
Total U.S. Government Agency Obligations | $ | 11,311,994,468 | ||||||||||||
Variable Rate Obligations(a)—6.2% | ||||||||||||||
Bank of America N.A. | ||||||||||||||
$ | 345,000,000 | 1.625 | % | 04/03/09 | $ | 345,000,000 | ||||||||
General Electric Capital Corp. | ||||||||||||||
215,000,000 | 0.512 | 03/24/09 | 215,000,000 | |||||||||||
Hartford Life Insurance Co.(b) | ||||||||||||||
100,000,000 | 0.713 | 03/02/09 | 100,000,000 | |||||||||||
JPMorgan Chase & Co. | ||||||||||||||
60,000,000 | 2.337 | 03/02/09 | 59,996,563 | |||||||||||
565,000,000 | 1.465 | 04/03/09 | 564,996,841 | |||||||||||
MetLife, Inc.(b) | ||||||||||||||
150,000,000 | 1.489 | 03/17/09 | 150,000,000 | |||||||||||
190,000,000 | 1.571 | 03/17/09 | 190,000,000 | |||||||||||
Metropolitan Life Global Funding I | ||||||||||||||
295,000,000 | 1.667 | 04/09/09 | 295,000,000 | |||||||||||
Wells Fargo & Co. | ||||||||||||||
230,000,000 | 1.667 | 03/23/09 | 230,087,721 | |||||||||||
Total Variable Rate Obligations | $ | 2,150,081,125 | ||||||||||||
Time Deposit—0.3% | ||||||||||||||
JPMorgan Chase & Co. | ||||||||||||||
$ | 116,500,000 | 0.125 | % | 03/02/09 | $ | 116,500,000 | ||||||||
U.S. Treasury Obligation—1.0% | ||||||||||||||
United States Treasury Bill | ||||||||||||||
$ | 350,000,000 | 0.700 | % | 12/17/09 | $ | 348,019,583 | ||||||||
Total Investments Before Repurchase Agreements | $ | 26,061,643,627 | ||||||||||||
Repurchase Agreements-Unaffiliated Issuers(c)—23.2% | ||||||||||||||
Barclays Capital, Inc. | ||||||||||||||
$ | 125,000,000 | 0.250 | % | 03/02/09 | $ | 125,000,000 | ||||||||
Maturity Value: $125,002,604 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 5.000%, due 02/01/39 and Government National Mortgage Association, 6.000%, due 08/20/38. The aggregate market value of the collateral, including accrued interest, was $127,499,997. | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
343,500,000 | 0.252 | 03/02/09 | 343,500,000 | |||||||||||
Maturity Value: $343,507,214 | ||||||||||||||
Joint Repurchase Agreement Account II | ||||||||||||||
7,590,000,000 | 0.274 | 03/02/09 | 7,590,000,000 | |||||||||||
Maturity Value: $7,590,173,305 | ||||||||||||||
UBS Securities LLC | ||||||||||||||
25,000,000 | 0.230 | 03/02/09 | 25,000,000 | |||||||||||
Maturity Value: $25,000,479 | ||||||||||||||
Collateralized by U.S. Treasury Bill, 0.000%, due 08/27/09. The market value of the collateral, including accrued interest, was $25,500,189. | ||||||||||||||
Total Repurchase Agreements-Unaffiliated Issuers | $ | 8,083,500,000 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
14
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Repurchase Agreements-Affiliated Issuers(c)—2.4% | ||||||||||||||
Goldman, Sachs & Co. | ||||||||||||||
$ | 100,000,000 | 0.260 | % | 03/02/09 | $ | 100,000,000 | ||||||||
Maturity Value: $100,002,167 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.500% to 8.500%, due 12/01/14 to 09/01/38 and Federal National Mortgage Association, 4.000% to 8.500%, due 05/01/12 to 02/01/39. The aggregate market value of the collateral, including accrued interest, was $102,999,450. | ||||||||||||||
750,000,000 | 0.270 | 03/02/09 | 750,000,000 | |||||||||||
Maturity Value: $750,016,875 | ||||||||||||||
Collateralized by Federal Home Loan Mortgage Corp., 4.500% to 7.500%, due 04/01/18 to 01/01/39 and Federal National Mortgage Association, 4.500% to 7.500%, due 07/01/17 to 01/01/39. The aggregate market value of the collateral, including accrued interest, was $772,499,860. | ||||||||||||||
Total Repurchase Agreements-Affiliated Issuers | $ | 850,000,000 | ||||||||||||
Total Investments—100.3% | $ | 34,995,143,627 | ||||||||||||
Liabilities in Excess of Other Assets—(0.3)% | (92,913,879 | ) | ||||||||||||
Net Assets—100.0% | $ | 34,902,229,748 | ||||||||||||
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
* | Securities issued under the Federal Deposit Insurance Corporation Temporary Liquidity Guarantee Program. | |
(a) | Variable or floating rate security index is based on either the U.S. Treasury Bill Rate, London Interbank Offered Rate, Prime Lending Rate or Federal Funds Rate. Interest Rate disclosed is that which is in effect at February 28, 2009. | |
(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 February 28, 2009, these securities amounted to $608,000,000 or approximately 1.7% of net assets. | |
(c) | Unless noted, all repurchase agreements were entered into on February 27, 2009. Additional information on Joint Repurchase Agreement Accounts I & II appears on pages 46-47. |
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.
The accompanying notes are an integral part of these financial statements.
15
Schedule of Investments
Financial Square Tax-Free Money Market Fund
Financial Square Tax-Free Money Market Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Alabama—2.1% | ||||||||||||||
Alabama Special Care Facility Financing Authority VRDN RB Birmingham Putters Series 2008-2959 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
$ | 6,775,000 | 0.600 | % | 03/05/09 | $ | 6,775,000 | ||||||||
Alabama State Public School & College Authority RB for Capital Improvement Series 2007 (AA/Aa2) | ||||||||||||||
12,000,000 | 5.000 | 12/01/09 | 12,335,865 | |||||||||||
Alabama State Public School & College Authority VRDN RB ROCS-RR-II R-11310 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
5,425,000 | 0.700 | 03/05/09 | 5,425,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1995 A (A-1/VMIG1) | ||||||||||||||
3,200,000 | 0.650 | 03/02/09 | 3,200,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1995 E (A-1/VMIG1) | ||||||||||||||
1,750,000 | 0.800 | 03/02/09 | 1,750,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1996 A (VMIG1) | ||||||||||||||
10,800,000 | 0.650 | 03/02/09 | 10,800,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1999 B (A-1/VMIG1) | ||||||||||||||
18,500,000 | 0.650 | 03/02/09 | 18,500,000 | |||||||||||
Columbia IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1999 C (A-1/VMIG1) | ||||||||||||||
10,000,000 | 0.600 | 03/02/09 | 10,000,000 | |||||||||||
Gadsden IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1994 (A-1) | ||||||||||||||
6,150,000 | 0.650 | 03/02/09 | 6,150,000 | |||||||||||
Huntsville Health Care Authority CP Series 2008 (A-1) | ||||||||||||||
40,000,000 | 1.750 | 03/02/09 | 40,000,000 | |||||||||||
Mobile City IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1994 (A-1/VMIG1) | ||||||||||||||
7,050,000 | 0.650 | 03/02/09 | 7,050,000 | |||||||||||
Mobile City IDB VRDN PCRB for Alabama Power Co. Project Series 1993 A (A-1/VMIG1) | ||||||||||||||
7,500,000 | 0.720 | 03/05/09 | 7,500,000 | |||||||||||
Parrish IDB VRDN PCRB Refunding for Alabama Power Co. Project Series 1994 (A-1) | ||||||||||||||
8,000,000 | 0.650 | 03/02/09 | 8,000,000 | |||||||||||
Southeast Alabama Gas District VRDN RB Supply Project Series 2007 A (Societe Generale SPA) (VMIG1) | ||||||||||||||
85,198,000 | 0.550 | 03/02/09 | 85,198,000 | |||||||||||
$ | 222,683,865 | |||||||||||||
Arizona—1.7% | ||||||||||||||
Arizona Health Facilities Authority VRDN RB for Banner Health Series 2008 C (Bank of Nova Scotia LOC) (A-1+) | ||||||||||||||
12,435,000 | 0.500 | 03/04/09 | 12,435,000 | |||||||||||
Arizona Health Facilities Authority VRDN RB for Catholic Health Care West Series 2008 A (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
14,500,000 | 0.580 | 03/04/09 | 14,500,000 | |||||||||||
Arizona Health Facilities Authority VRDN RB for Catholic Health Care West Series 2008 B (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
14,800,000 | 0.530 | 03/04/09 | 14,800,000 | |||||||||||
Arizona School District TANS Financing Program COPS Series 2008 (SP-1+/MIG1) | ||||||||||||||
29,300,000 | 3.000 | 07/30/09 | 29,463,854 | |||||||||||
Arizona Water Infrastructure Finance Authority VRDN RB Putters Series 2008-2745 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
3,670,000 | 0.600 | 03/05/09 | 3,670,000 | |||||||||||
Banner Health Puttable Floating Option Tax-Exempt Receipts VRDN RB P-Floats-PT-4511 Series 2008 (Well Fargo Bank N.A. SPA) (A-1+)(a) | ||||||||||||||
13,120,000 | 0.640 | 03/05/09 | 13,120,000 | |||||||||||
Gilbert Arizona GO Bonds Projects of 2006 & 2007 Series 2008 (AA/Aa2) | ||||||||||||||
15,790,000 | 3.500 | 07/01/09 | 15,881,105 | |||||||||||
Salt River Project Agricultural Improvement & Power District Electric Systems RB Series A (AA/Aa1)(c) | ||||||||||||||
15,000,000 | 5.000 | 01/01/10 | 15,000,000 | |||||||||||
Salt River Project Agricultural Improvement & Power District Electric Systems VRDN RB Eagle Series 2006-0014 A (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
12,275,000 | 0.690 | 03/05/09 | 12,275,000 | |||||||||||
Salt River Project Agricultural Improvement & Power District Electric Systems VRDN RB Eagle Series 2006-0141 A (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
16,500,000 | 0.690 | 03/05/09 | 16,500,000 | |||||||||||
Salt River Project Agricultural Improvement & Power District Electric Systems VRDN RB Eagle Series 2007-0012 A (Landesbank Hessen-Thueringen SPA) (A-1)(a) | ||||||||||||||
15,850,000 | 0.720 | 03/05/09 | 15,850,000 | |||||||||||
Salt River Project Agricultural Improvement & Power District Electric Systems VRDN RB ROCS-RR-II R-11712 Series 2009 (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
2,635,000 | 0.680 | 03/05/09 | 2,635,000 | |||||||||||
Salt River Project VRDN RB Putters Series 2008-3226 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
9,620,000 | 0.600 | 03/05/09 | 9,620,000 | |||||||||||
Salt River Project VRDN RB Putters Series 2009-3307 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,395,000 | 0.600 | 03/05/09 | 3,395,000 | |||||||||||
Scottsdale Arizona GO Bonds Series 1999 (AAA/Aaa) | ||||||||||||||
5,000,000 | 5.000 | 07/01/09 | 5,046,189 | |||||||||||
The accompanying notes are an integral part of these financial statements.
16
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Arizona (continued) | ||||||||||||||
Yavapai County IDA Hospital Facility VRDN RB for Northern Arizona Healthcare Series 2009 B (Banco Bilbao Vizcaya LOC) (A-1+/VMIG1) | ||||||||||||||
$ | 3,000,000 | 0.580 | % | 03/05/09 | $ | 3,000,000 | ||||||||
$ | 187,191,148 | |||||||||||||
California—2.2% | ||||||||||||||
Bay Area Toll Authority California Toll Bridge VRDN RB Eagle Series 2008-0056 Class A (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
11,825,000 | 0.560 | 03/05/09 | 11,825,000 | |||||||||||
Bay Area Toll Authority Toll Bridge VRDN RB Bay Area Series 2003 C RMKT (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
3,800,000 | 0.550 | 03/05/09 | 3,800,000 | |||||||||||
Bay Area Toll Authority Toll Bridge VRDN RB San Francisco Bay Area Series 2008 E-1 (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
1,700,000 | 0.300 | 03/05/09 | 1,700,000 | |||||||||||
Bay Area Toll Authority VRDN RB Putters Series 2008-3130 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
6,145,000 | 0.550 | 03/05/09 | 6,145,000 | |||||||||||
Bay Area Toll Authority VRDN RB Putters Series 2009-3293 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
2,500,000 | 0.550 | 03/05/09 | 2,500,000 | |||||||||||
California Educational Facilities Authority Austin Trust Certificates VRDN RB for Southern California University Series 2009-1207 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
4,440,000 | 0.570 | 03/05/09 | 4,440,000 | |||||||||||
California Educational Facilities Authority VRDN RB for Stanford University Putters Series 2008-2937Z (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,365,000 | 0.550 | 03/05/09 | 2,365,000 | |||||||||||
California Health Facilities Financing Authority VRDN RB Sutter Health Putters Series 2009-3299 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
15,000,000 | 0.550 | 03/05/09 | 15,000,000 | |||||||||||
California Health Facilities Financing Authority VRDN RB Sutter Health ROCS-RR-II-11007 Series 2007 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
6,800,000 | 0.630 | 03/05/09 | 6,800,000 | |||||||||||
California Health Facilities VRDN RB Sutter Health Putters Series 2008-3175 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
8,805,000 | 0.550 | 03/05/09 | 8,805,000 | |||||||||||
California Infrastructure & Economic Development Bank VRDN RB Refunding for J Paul Getty Series 2008 A3 RMKT (A-1+/VMIG1) | ||||||||||||||
6,000,000 | 1.700 | 04/01/09 | 6,000,000 | |||||||||||
California Infrastructure & Economic Development Bank VRDN RB Refunding for J Paul Getty Series 2008 A4 RMKT (A-1+/VMIG1) | ||||||||||||||
6,100,000 | 1.700 | 04/01/09 | 6,100,000 | |||||||||||
California Infrastructure & Economic Development Bank VRDN RB Refunding for J Paul Getty Trust Series 2008 A2 RMKT (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 1.700 | 04/01/09 | 5,000,000 | |||||||||||
California State Department of Water Resources Power Supply VRDN RB Series 2002 C-14 (Westdeutsche Landesbank LOC) (A-1+/VMIG1) | ||||||||||||||
4,400,000 | 0.400 | 03/05/09 | 4,400,000 | |||||||||||
California State Department of Water Resources Power Supply VRDN RB Series 2002 C-8 (Bayerische Landesbank LOC) (A-1+/VMIG1) | ||||||||||||||
25,265,000 | 0.350 | 03/05/09 | 25,265,000 | |||||||||||
California State Department of Water Resources Power Supply VRDN RB Series 2008 J-2 (Bank of Nova Scotia, California Public Employees Retirement System and JPMorgan Chase & Co. LOC) (VMIG1) | ||||||||||||||
5,900,000 | 0.400 | 03/05/09 | 5,900,000 | |||||||||||
California State Department of Water Resources VRDN RB Putters Series 2008-3019 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
4,890,000 | 0.550 | 03/05/09 | 4,890,000 | |||||||||||
California State Department of Water Resources VRDN RB ROCS-R-II R-11552 Central Valley Project Series 2008 (BHAC) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,000,000 | 0.700 | 03/05/09 | 4,000,000 | |||||||||||
California Statewide Communities Development Authority VRDN RB ROCS-RR-II R-1563 Series 2008 (BHAC) (Citibank N.A.) (A-1)(a) | ||||||||||||||
4,100,000 | 0.700 | 03/05/09 | 4,100,000 | |||||||||||
California Statewide Communities Development Authority for Kaiser Permanente CP Series 2009 S-K | ||||||||||||||
17,700,000 | 0.550 | 08/24/09 | 17,700,000 | |||||||||||
Eastern Municipal Water District California Water & Sewer VRDN COPS Refunding Series 2008 E (Lloyds TSB Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
19,710,000 | 0.400 | 03/04/09 | 19,710,000 | |||||||||||
Glendale California VRDN COPS for Police Building Project Series 2000 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.350 | 03/05/09 | 5,000,000 | |||||||||||
Los Angeles California Department of Water & Power VRDN RB ROCS-RR-II R-11555 Series 2008 (BHAC) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
2,695,000 | 0.700 | 03/05/09 | 2,695,000 | |||||||||||
Los Angeles Community College GO VRDN Putters Series 2008-3287 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
4,500,000 | 0.550 | 03/05/09 | 4,500,000 | |||||||||||
Metropolitan Water District Southern California Waterworks VRDN RB ROCS-RR-II R-11301 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,295,000 | 0.630 | 03/05/09 | 3,295,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
17
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
California (continued) | ||||||||||||||
Metropolitan Water District Southern California Waterworks VRDN RB ROCS-RR-II R-11565 Series 2008 (BHAC) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
$ | 5,525,000 | 0.690 | % | 03/05/09 | $ | 5,525,000 | ||||||||
Pasadena California VRDN COPS Refunding Series 2008 A (Bank of America N.A. LOC) (A-1+) | ||||||||||||||
4,105,000 | 0.400 | 03/05/09 | 4,105,000 | |||||||||||
Sacramento County Sanitation District Financing Authority VRDN RB Subordinated Lien for Sacramento Regional Series 2000 C (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
1,900,000 | 0.400 | 03/04/09 | 1,900,000 | |||||||||||
San Diego Water Authority CP Series 2009 (Bayerische Landesbank SPA) (A-1) | ||||||||||||||
5,500,000 | 0.450 | 03/11/09 | 5,500,000 | |||||||||||
12,000,000 | 0.550 | 06/11/09 | 12,000,000 | |||||||||||
10,500,000 | 0.550 | 06/24/09 | 10,500,000 | |||||||||||
San Francisco Bay Area Rapid Transit District GO VRDN ROCS RR-II R-12222 Series 2007 (Citibank N.A. SPA) (A-1/VMIG1)(a) | ||||||||||||||
4,950,000 | 0.630 | 03/05/09 | 4,950,000 | |||||||||||
University of California VRDN RB Putters Series 2008-2475 (JPMorgan & Chase Co. SPA) (VMIG1)(a) | ||||||||||||||
1,035,000 | 0.550 | 03/05/09 | 1,035,000 | |||||||||||
University of California VRDN RB ROCS-R-II R-11567 Series 2008 (BHAC) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,440,000 | 0.690 | 03/05/09 | 3,440,000 | |||||||||||
University of Southern California Educational Facilities Authority VRDN RB ROCS-RR-II R-11064 Series 2007 (Citibank N.A.) (A-1+)(a) | ||||||||||||||
8,500,000 | 0.630 | 03/05/09 | 8,500,000 | |||||||||||
$ | 239,390,000 | |||||||||||||
Colorado—1.3% | ||||||||||||||
Colorado Educational & Cultural Facilities Authority VRDN RB Nature Conservancy Series 2003 A-TE Convertible (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
20,600,000 | 0.650 | 03/05/09 | 20,600,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Catholic Health Care Series 2002 B (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
12,690,000 | 0.610 | 03/04/09 | 12,690,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Catholic Health Care Series 2004 B-1 (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
17,905,000 | 0.400 | 03/04/09 | 17,905,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Sisters Charity Health System Series 2003 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
6,825,000 | 0.610 | 03/04/09 | 6,825,000 | |||||||||||
Colorado Health Facilities Authority VRDN RB for Sisters of Charity Health Systems Series 2003 B (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
18,145,000 | 0.630 | 03/04/09 | 18,145,000 | |||||||||||
Colorado Springs Utilities Systems VRDN RB Improvement Series 2008 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
44,550,000 | 0.700 | 03/05/09 | 44,550,000 | |||||||||||
Colorado Springs VRDN RB for Colorado College Project Series 2006 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
7,150,000 | 0.550 | 03/02/09 | 7,150,000 | |||||||||||
Denver GO VRDN Austin Trust Certificates Series 2008-1050 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
7,500,000 | 0.620 | 03/05/09 | 7,500,000 | |||||||||||
Platte River Power Authority Electric VRDN RB Subordinated Lien Series 1993 S-1 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
4,550,000 | 0.590 | 03/04/09 | 4,550,000 | |||||||||||
$ | 139,915,000 | |||||||||||||
Connecticut—1.0% | ||||||||||||||
Connecticut State GO VRDN Putters Series 2008-3254 (JPMorgan Chase & Co. SPA) (AAA)(a) | ||||||||||||||
7,965,000 | 0.550 | 03/05/09 | 7,965,000 | |||||||||||
Connecticut State Health & Educational Facilities Authority Austin Trust Certificates VRDN RB Series 2008-1086 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
21,000,000 | 0.620 | 03/06/09 | 21,000,000 | |||||||||||
Connecticut State Health & Educational Facilities Authority VRDN RB for Yale University Putters Series 2008-2861 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
7,155,000 | 0.600 | 03/02/09 | 7,155,000 | |||||||||||
Connecticut State Health & Educational Facilities Authority VRDN RB for Yale University Putters Series 2008-2862 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
7,730,000 | 0.600 | 03/02/09 | 7,730,000 | |||||||||||
Connecticut State Health & Educational Facilities Authority VRDN RB for Yale University ROCS-RR-II R-12227 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
11,025,000 | 0.660 | 03/05/09 | 11,025,000 | |||||||||||
Connecticut State Health & Educational Facilities Authority VRDN RB for Yale University ROCS-RR-II-R-10347 Series 2009 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
42,000,000 | 0.660 | 03/05/09 | 42,000,000 | |||||||||||
Connecticut State Health & Educational Facilities Authority VRDN RB for Yale University Series 1997 T-2 (A-1+/VMIG1) | ||||||||||||||
5,200,000 | 0.350 | 03/05/09 | 5,200,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
18
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Connecticut (continued) | ||||||||||||||
Connecticut State Lehman Municipal Trust Receipts VRDN RB Floater TRS for Yale University Series 2008 K34W-Reg D (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
$ | 9,170,000 | 0.660 | % | 03/05/09 | $ | 9,170,000 | ||||||||
$ | 111,245,000 | |||||||||||||
Delaware—0.8% | ||||||||||||||
Delaware State GO Bonds Series 2008 (AAA/Aaa) | ||||||||||||||
6,415,000 | 5.000 | 03/01/09 | 6,415,491 | |||||||||||
Delaware State Health & Educational Facilities Authority VRDN RB for the Nemours Foundation Project Series 2005 (Bank of America N.A.) (A-1+) | ||||||||||||||
30,120,000 | 0.650 | 03/04/09 | 30,120,000 | |||||||||||
University of Delaware VRDN RB Series 1998 (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
6,565,000 | 0.580 | 03/04/09 | 6,565,000 | |||||||||||
University of Delaware VRDN RB Series 2001 B (Landesbank Hessen-Thueringen SPA) (A-1+) | ||||||||||||||
7,345,000 | 0.550 | 03/02/09 | 7,345,000 | |||||||||||
University of Delaware VRDN RB Series 2005 (Landesbank Hessen-Thueringen SPA) (A-1+) | ||||||||||||||
33,175,000 | 0.600 | 03/02/09 | 33,175,000 | |||||||||||
$ | 83,620,491 | |||||||||||||
District of Columbia—0.6% | ||||||||||||||
District of Columbia GO VRDN Series 2001 C (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
17,350,000 | 0.530 | 03/05/09 | 17,350,000 | |||||||||||
District of Columbia George Washington University VRDN RB Series 2000 B RMKT (Bank of America N.A LOC) (A-1+/VMIG1) | ||||||||||||||
26,765,000 | 0.530 | 03/04/09 | 26,765,000 | |||||||||||
District of Columbia VRDN RB George Washington University Series 2000 C RMKT (Bank of America N.A. LOC) (A-1+) | ||||||||||||||
12,000,000 | 0.530 | 03/04/09 | 12,000,000 | |||||||||||
District of Columbia VRDN RB Refunding Series 2008 B RMKT (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
7,300,000 | 0.650 | 03/05/09 | 7,300,000 | |||||||||||
District of Columbia Water & Sewer Systems VRDN RB Putters Series 2009-3317 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
2,000,000 | 0.600 | 03/05/09 | 2,000,000 | |||||||||||
$ | 65,415,000 | |||||||||||||
Florida—4.6% | ||||||||||||||
Broward County Water & Sewer Utility Systems VRDN RB ROCS RR II R-11719 Series 2009 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,095,000 | 0.680 | 03/05/09 | 3,095,000 | |||||||||||
Florida State Board of Education Austin Trust Certificates GO VRDN Series 2008-1083 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
14,911,000 | 0.620 | 03/05/09 | 14,911,000 | |||||||||||
Florida State Board of Education GO Bonds Refunding for Capital Outlay Series 2007 A (AAA/Aa1) | ||||||||||||||
$ | 6,205,000 | 5.000 | % | 06/01/09 | $ | 6,255,154 | ||||||||
Florida State Board of Education GO Bonds Series 2005 A (AAA/Aa1) | ||||||||||||||
4,400,000 | 5.000 | 01/01/10 | 4,557,379 | |||||||||||
Florida State Board of Education GO VRDN Putters Series 2008-2850 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
4,945,000 | 0.600 | 03/05/09 | 4,945,000 | |||||||||||
Florida State Board of Education GO VRDN ROCS-RR-II R-11302 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,305,000 | 0.680 | 03/05/09 | 4,305,000 | |||||||||||
Florida State Board of Education GO VRDN ROCS-RR-II R-11303 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
5,390,000 | 0.680 | 03/05/09 | 5,390,000 | |||||||||||
Florida State Board of Education GO VRDN ROCS-RR-II R-11389 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,570,000 | 0.690 | 03/05/09 | 4,570,000 | |||||||||||
Florida State Board of Education GO VRDN ROCS-RR-II R-12078 Series 2007 (Citibank N.A. SPA) (A-1/VMIG1)(a) | ||||||||||||||
23,050,000 | 0.680 | 03/05/09 | 23,050,000 | |||||||||||
Florida State Board of Education GO VRDN ROCS-RR-II R-12154 Series 2007 (Citibank N.A. SPA) (A-1/VMIG1)(a) | ||||||||||||||
9,875,000 | 0.710 | 03/05/09 | 9,875,000 | |||||||||||
Florida State Board of Education Lottery RB Series 2008 A (AAA/A2) | ||||||||||||||
4,870,000 | 5.000 | 07/01/09 | 4,918,924 | |||||||||||
Florida State Board of Education Lottery RB Series 2008 B (AAA/A2) | ||||||||||||||
4,500,000 | 3.500 | 07/01/09 | 4,525,395 | |||||||||||
Florida State Turnpike Authority VRDN RB Putters Series 2008-2514 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
4,515,000 | 0.600 | 03/05/09 | 4,515,000 | |||||||||||
Florida State Turnpike Authority VRDN RB Putters Series 2008-2539 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,665,000 | 0.600 | 03/05/09 | 2,665,000 | |||||||||||
Highlands County Health Facilities Authority VRDN RB for Adventist Health System Series 2007 A-2 (A-1/VMIG1) | ||||||||||||||
30,000,000 | 0.670 | 03/05/09 | 30,000,000 | |||||||||||
Jacksonville Austin Trust Certificates VRDN RB Mayo Foundation Series 2008-3015X (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
5,500,000 | 0.620 | 03/05/09 | 5,500,000 | |||||||||||
Jacksonville Capital Project VRDN RB Series 2008 A (Bank of America N.A. LOC) (VMIG1) | ||||||||||||||
29,895,000 | 0.650 | 03/05/09 | 29,895,000 | |||||||||||
Jacksonville Electric Authority CP Series 2009 C-1 (JPMorgan Chase & Co. SPA) | ||||||||||||||
31,000,000 | 0.400 | 03/06/09 | 31,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
19
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Florida (continued) | ||||||||||||||
Jacksonville Electric Authority VRDN RB for St. Johns River Power Park Systems Putters Series 2008-2935Z (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
$ | 5,645,000 | 0.600 | % | 03/05/09 | $ | 5,645,000 | ||||||||
Jacksonville Electric Authority Water & Sewer Systems VRDN RB Series 2008 B (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
1,500,000 | 0.460 | 03/04/09 | 1,500,000 | |||||||||||
Jacksonville Electric Authority Water & Sewer Systems VRDN RB Series 2008 Subseries A-1 (Bank of New York SPA) (A-1+/VMIG1) | ||||||||||||||
57,265,000 | 0.400 | 03/04/09 | 57,265,000 | |||||||||||
Jacksonville Transportation VRDN RB Series 2008 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
22,600,000 | 0.450 | 03/05/09 | 22,600,000 | |||||||||||
Jacksonville Water & Sewer Systems VRDN RB Series 2008 A-2 (Banco Bilboa Vizcaya SPA) (A-1+/VMIG1) | ||||||||||||||
17,850,000 | 0.400 | 03/04/09 | 17,850,000 | |||||||||||
Jacksonville Water & Sewer Systems VRDN RB Series 2008 Subseries A-2 (Bank of New York SPA) (A-1+/VMIG1) | ||||||||||||||
4,910,000 | 0.500 | 03/05/09 | 4,910,000 | |||||||||||
Orange County Educational Facilities Authority VRDN RB for Rollins College Project Series 2001 (Bank of America N.A. LOC) (VMIG1) | ||||||||||||||
5,200,000 | 0.600 | 03/02/09 | 5,200,000 | |||||||||||
Orlando Utilities Commission System RB Refunding Series 2004 (AA/Aa1) | ||||||||||||||
10,400,000 | 5.250 | 07/01/09 | 10,517,456 | |||||||||||
Orlando Utilities Commission Water & Electric VRDN RB Series 2002 A (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
89,450,000 | 0.580 | 03/04/09 | 89,450,000 | |||||||||||
Palm Beach County School District CP Series 2008 (Bank of America N.A. LOC) | ||||||||||||||
11,750,000 | 0.650 | 03/12/09 | 11,750,000 | |||||||||||
South Broward Hospital District Austin Trust Certificates VRDN RB Series 2008-1122 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
6,480,000 | 0.620 | 03/05/09 | 6,480,000 | |||||||||||
South Miami Austin Trust Certificates VRDN RB for Baptist Health Series 2007-1025 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
12,275,000 | 0.620 | 03/05/09 | 12,275,000 | |||||||||||
South Miami Austin Trust Certificates VRDN RB for Baptist Health Series 2008-1117 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
4,245,000 | 0.620 | 03/05/09 | 4,245,000 | |||||||||||
South Miami Health Facilities Authority VRDN RB for Baptist Health Putters Series 2007-2318 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
37,945,000 | 0.600 | 03/05/09 | 37,945,000 | |||||||||||
South Miami Health Facilities Authority VRDN RB for Baptist Health Putters Series 2008-2473 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,080,000 | 0.600 | 03/05/09 | 2,080,000 | |||||||||||
Tallahassee Construction Utility System VRDN RB Putters Series 2008-2617 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
6,660,000 | 0.600 | 03/05/09 | 6,660,000 | |||||||||||
Tallahassee Construction Utility System VRDN RB ROCS-RR-II R-11306 Series 2007 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
6,785,000 | 0.680 | 03/05/09 | 6,785,000 | |||||||||||
$ | 497,130,308 | |||||||||||||
Georgia—2.9% | ||||||||||||||
Dekalb County Private Hospital Authority VRDN RANS Refunding for Childrens Health of Atlanta Series 2008 C (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.570 | 03/04/09 | 5,000,000 | |||||||||||
Dekalb County Water & Sewer Systems VRDN RB ROCS-RR-II R-567 Series 2006 (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
3,135,000 | 0.680 | 03/05/09 | 3,135,000 | |||||||||||
Georgia State GO Bonds Series 1999 B (AAA/Aaa) | ||||||||||||||
7,770,000 | 5.750 | 08/01/09 | 7,900,912 | |||||||||||
Georgia State GO Bonds Series 2003 D (AAA/Aaa) | ||||||||||||||
7,000,000 | 5.250 | 12/01/09 | 7,219,767 | |||||||||||
Georgia State GO Bonds Series 2009 A (AAA/Aaa) | ||||||||||||||
8,080,000 | 2.000 | 01/01/10 | 8,181,400 | |||||||||||
Georgia State GO Bonds Series 2009 B (AAA/Aaa) | ||||||||||||||
20,925,000 | 2.000 | 01/01/10 | 21,187,600 | |||||||||||
Georgia State GO Bonds Unrefunded Balance Series 1994 B (AAA/Aaa) | ||||||||||||||
4,900,000 | 5.250 | 03/01/09 | 4,900,456 | |||||||||||
Georgia State GO VRDN ROCS-RR-II R-11491 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
10,650,000 | 0.680 | 03/05/09 | 10,650,000 | |||||||||||
Georgia State Road & Thruway Authority RB Federal Highway Grant Anticipation Bonds Series 2006 (AA-/Aa3) | ||||||||||||||
9,500,000 | 5.000 | 06/01/09 | 9,574,340 | |||||||||||
Gwinnett County Public School District GO VRDN Putters Series 2008-2868 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
8,870,000 | 0.600 | 03/05/09 | 8,870,000 | |||||||||||
Gwinnett County Water & Sewer Authority VRDN RB Series 2004 A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
23,565,000 | 0.620 | 03/04/09 | 23,565,000 | |||||||||||
Metropolitan Atlanta Rapid Transit Authority Sales Tax VRDN RB Series 2000 B (Bayerische Landesbank and Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
45,220,000 | 0.650 | 03/04/09 | 45,220,000 | |||||||||||
Monroe County Development Authority VRDN PCRB for Georgia Power Series 2006 RMKT (A-1/VMIG1) | ||||||||||||||
3,065,000 | 0.560 | 03/02/09 | 3,065,000 | |||||||||||
Monroe County Development Authority VRDN PCRB for Scherer Project Series 1997 RMKT (A-1/P-1) | ||||||||||||||
4,000,000 | 0.610 | 03/02/09 | 4,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
20
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Georgia (continued) | ||||||||||||||
Municipal Electric Authority of Georgia Project One CP Series 1997 B (Bayerische Landesbank, Westdeutsche Landesbank AG and Wachovia Bank N.A. LOC) | ||||||||||||||
$ | 42,000,000 | 1.250 | % | 03/02/09 | $ | 42,000,000 | ||||||||
12,000,000 | 0.550 | 03/26/09 | 12,000,000 | |||||||||||
13,200,000 | 2.250 | 04/01/09 | 13,200,000 | |||||||||||
Municipal Electric Authority of Georgia VRDN RB Series 1985 B RMKT (Landesbank Hessen-Thueringen LOC) (A-1+/VMIG1) | ||||||||||||||
5,400,000 | 3.500 | 03/04/09 | 5,400,000 | |||||||||||
Municipal Electric Authority of Georgia VRDN RB Series 1985 C RMKT (Bayerische Landesbank LOC) (A-1+/VMIG1) | ||||||||||||||
9,000,000 | 0.630 | 03/04/09 | 9,000,000 | |||||||||||
Private Colleges & Universities Authority VRDN RB for Emory University Putters Series 2008-2989 (JPMorgan Chase & Co.) (VMIG1)(a) | ||||||||||||||
3,545,000 | 0.600 | 03/05/09 | 3,545,000 | |||||||||||
Private Colleges & Universities Authority VRDN RB for Emory University Series 2005 B-1 (A-1+/VMIG1) | ||||||||||||||
5,900,000 | 0.300 | 03/05/09 | 5,900,000 | |||||||||||
Private Colleges & Universities Facilities Authority VRDN RB for Emory University Series 2000 B (A-1+/VMIG1) | ||||||||||||||
6,110,000 | 0.400 | 03/04/09 | 6,110,000 | |||||||||||
Private Colleges & Universities Facilities Authority VRDN RB for Emory University Series 2005 B-2 (A-1+/VMIG1) | ||||||||||||||
2,500,000 | 0.400 | 03/05/09 | 2,500,000 | |||||||||||
Private Colleges & Universities Facilities Authority VRDN RB for Emory University Series 2005 C-2 RMKT (A-1+/VMIG1) | ||||||||||||||
31,270,000 | 0.400 | 03/05/09 | 31,270,000 | |||||||||||
Private Colleges & Universities Facilities Authority VRDN RB for Emory University Series 2005 C-4 RMKT (A-1/VMIG1) | ||||||||||||||
7,100,000 | 0.400 | 03/05/09 | 7,100,000 | |||||||||||
Putnam County Development Authority VRDN PCRB for Georgia Power Co. Plant Branch Project Series 1998 (A-1) | ||||||||||||||
3,525,000 | 0.560 | 03/02/09 | 3,525,000 | |||||||||||
Savannah Economic Development Authority VRDN PCRB Refunding for Georgia Power Co. Savannah Electric & Power Project Series 1993 (A-1/VMIG1) | ||||||||||||||
4,085,000 | 0.610 | 03/02/09 | 4,085,000 | |||||||||||
$ | 308,104,475 | |||||||||||||
Hawaii—1.1% | ||||||||||||||
Hawaii State GO VRDN ROCS-RR-II R-11694 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,985,000 | 0.690 | 03/05/09 | 4,985,000 | |||||||||||
Honolulu Hawaii GO CP Series 2009 (Westdeutsche Landesbank AG SPA) | ||||||||||||||
18,000,000 | 0.700 | 04/03/09 | 18,000,000 | |||||||||||
20,000,000 | 0.500 | 04/06/09 | 20,000,000 | |||||||||||
5,000,000 | 0.650 | 04/06/09 | 5,000,000 | |||||||||||
Honolulu Hawaii GO CP Series 2009 H (Landesbank Hessen-Thueringen SPA) | ||||||||||||||
55,500,000 | 0.650 | 04/02/09 | 55,500,000 | |||||||||||
15,400,000 | 0.500 | 04/06/09 | 15,400,000 | |||||||||||
$ | 118,885,000 | |||||||||||||
Idaho—0.2% | ||||||||||||||
Idaho Health Facilities Authority VRDN RB for Ascension Health Service Care Series 2008 D (A-1+/VMIG1) | ||||||||||||||
18,700,000 | 0.350 | 03/04/09 | 18,700,000 | |||||||||||
University of Idaho RB for Student Fee Recreation Center Project series 1999 (FSA) (AAA) | ||||||||||||||
1,320,000 | 6.000 | 04/01/09 | 1,337,870 | |||||||||||
$ | 20,037,870 | |||||||||||||
Illinois—4.6% | ||||||||||||||
Chicago GO VRDN Putters Series 2009-3315 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
4,995,000 | 0.600 | 03/05/09 | 4,995,000 | |||||||||||
Chicago GO VRDN Refunding Series 2007 F RMKT (Banco Bilbao Vizcaya SPA) (A-1+) | ||||||||||||||
7,925,000 | 0.600 | 03/02/09 | 7,925,000 | |||||||||||
Chicago GO VRDN Refunding Series 2007 G RMKT (Banco Bilbao Vizcaya SPA) (A-1+) | ||||||||||||||
18,000,000 | 0.530 | 03/02/09 | 18,000,000 | |||||||||||
Chicago Metropolitan Water Reclamation District of Greater Chicago GO VRDN ROCS-RR-II R-11283 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
2,000,000 | 0.680 | 03/05/09 | 2,000,000 | |||||||||||
Chicago Metropolitan Water Reclamation District of Greater Chicago VRDN RB ROCS-RR-II R-11189 Series 2007 (Citigroup Global Markets SPA) (VMIG1)(a) | ||||||||||||||
4,995,000 | 0.680 | 03/05/09 | 4,995,000 | |||||||||||
Chicago Sales Tax VRDN RB Refunding Series 2002 RMKT (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
36,785,000 | 0.650 | 03/02/09 | 36,785,000 | |||||||||||
Chicago Wastewater Transmission VRDN RB Refunding Series 2008 Subseries C-2 (Bank of America N.A. LOC) (VMIG1) | ||||||||||||||
15,500,000 | 0.650 | 03/02/09 | 15,500,000 | |||||||||||
Chicago Wastewater Transmission VRDN RB Refunding Series 2008 Subseries C-3 (Northern Trust Co. LOC) (A-1+/VMIG1) | ||||||||||||||
10,500,000 | 0.650 | 03/02/09 | 10,500,000 | |||||||||||
Cook County GO TANS Series 2008 (SP-1+/MIG1) | ||||||||||||||
16,500,000 | 3.000 | 08/03/09 | 16,597,626 | |||||||||||
Cook County Township High School District No. 225 Northfield Township GO VRDN Putters Series 2008-2445 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,130,000 | 0.600 | 03/05/09 | 2,130,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
21
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Illinois (continued) | ||||||||||||||
Illinois Development Finance Authority VRDN RB for Evanston Northwestern Series 2001 B Convertible (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 34,400,000 | 0.600 | % | 03/02/09 | $ | 34,400,000 | ||||||||
Illinois Development Finance Authority VRDN RB for Evanston Northwestern Series 2001 C Convertible (JPMorgan Chase & Co. SPA) (A-1) | ||||||||||||||
8,200,000 | 0.600 | 03/02/09 | 8,200,000 | |||||||||||
Illinois Educational Facilities Authority RB University of Chicago Series 2003 A (AA/Aa1) | ||||||||||||||
3,225,000 | 5.000 | 07/01/09 | 3,258,694 | |||||||||||
Illinois Educational Facilities Authority VRDN RB University of Chicago Series 2001 B-1 (VMIG1) | ||||||||||||||
15,700,000 | 1.850 | 07/28/09 | 15,700,000 | |||||||||||
Illinois Evanston Northwestern Health Care Corp. CP Series 2008-19 (A-1) | ||||||||||||||
22,000,000 | 1.500 | 04/02/09 | 22,000,000 | |||||||||||
Illinois Finance Authority VRDN RB Advocate Health Care Series 2008 A-1 (A-1+/VMIG1) | ||||||||||||||
18,000,000 | 0.650 | 01/14/10 | 18,000,000 | |||||||||||
Illinois Finance Authority VRDN RB Advocate Health Care Series 2008 Subseries B-3 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
4,150,000 | 0.600 | 03/04/09 | 4,150,000 | |||||||||||
Illinois Finance Authority VRDN RB Advocate Health Care Series 2008 Subseries B-5 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
8,880,000 | 0.600 | 03/04/09 | 8,880,000 | |||||||||||
Illinois Finance Authority VRDN RB Refunding for University of Chicago Series 2004 C (A-1+/VMIG1) | ||||||||||||||
3,550,000 | 0.300 | 03/05/09 | 3,550,000 | |||||||||||
Illinois Finance Authority VRDN RB for Central Dupage Series 2004 A RMKT (JPMorgan Chase & Co. SPA) (A-1+) | ||||||||||||||
28,000,000 | 0.600 | 03/02/09 | 28,000,000 | |||||||||||
Illinois Finance Authority VRDN RB for Northwestern Memorial Hospital Series 2007 A-1 (UBS AG SPA) (A-1/VMIG1) | ||||||||||||||
13,600,000 | 0.550 | 03/05/09 | 13,600,000 | |||||||||||
Illinois Finance Authority VRDN RB for Northwestern Memorial Hospital Series 2007 B-1 (Bank of Nova Scotia SPA) (A-1+/VMIG1) | ||||||||||||||
11,000,000 | 0.550 | 03/05/09 | 11,000,000 | |||||||||||
Illinois Finance Authority VRDN RB for Northwestern Memorial Hospital Series 2007 B-2 (Bank of Nova Scotia SPA) (A-1+/VMIG1) | ||||||||||||||
11,625,000 | 0.650 | 03/02/09 | 11,625,000 | |||||||||||
Illinois Finance Authority VRDN RB for Northwestern Memorial Hospital Series 2009 A-1(JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
1,785,000 | 0.600 | 03/02/09 | 1,785,000 | |||||||||||
Illinois Finance Authority VRDN RB for Northwestern University Series 2008 Subseries B (A-1+/VMIG1) | ||||||||||||||
31,000,000 | 0.600 | 02/01/10 | 31,000,000 | |||||||||||
Illinois Finance Authority VRDN RB for Southern Healthcare Series 2008 (Bank of Nova Scotia LOC) (A-1+) | ||||||||||||||
4,580,000 | 0.600 | 03/04/09 | 4,580,000 | |||||||||||
Illinois Finance Authority VRDN RB for University of Chicago Series 2004 B (A-1+/VMIG1) | ||||||||||||||
4,541,000 | 0.300 | 03/05/09 | 4,541,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for Northwestern Memorial Hospital Series 1995 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
35,100,000 | 0.610 | 03/04/09 | 35,100,000 | |||||||||||
Illinois Health Facilities Authority VRDN RB for Northwestern Memorial Hospital Series 2002 C (Westdeutsche Landesbank AG SPA) (A-1+/VMIG1) | ||||||||||||||
16,700,000 | 0.600 | 03/02/09 | 16,700,000 | |||||||||||
Illinois Health System Sisters Hospital CP Series 2008 A (A-1) | ||||||||||||||
17,300,000 | 1.350 | 03/02/09 | 17,300,000 | |||||||||||
26,500,000 | 0.400 | 04/02/09 | 26,500,000 | |||||||||||
35,000,000 | 0.400 | 04/07/09 | 35,000,000 | |||||||||||
Illinois State GO Bonds Series 2005 (AA/Aa3) | ||||||||||||||
3,800,000 | 5.000 | 04/01/09 | 3,810,031 | |||||||||||
Illinois State GO VRDN Macon Trust Certificates Series 2006 L (Bank of America N.A. SPA) (VMIG1)(a) | ||||||||||||||
3,500,000 | 0.620 | 03/05/09 | 3,500,000 | |||||||||||
Illinois State GO VRDN ROCS-RR-II R-11295 Series 2007 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
4,185,000 | 0.680 | 03/05/09 | 4,185,000 | |||||||||||
Illinois State Toll Highway Authority VRDN RB Putters Series 2009-3336 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
5,330,000 | 0.600 | 03/05/09 | 5,330,000 | |||||||||||
University of Chicago VRDN RB Austin Trust Certificates Series 2009-1205 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
4,165,000 | 0.620 | 03/05/09 | 4,165,000 | |||||||||||
University of Chicago VRDN RB Putters Series 2009-3288Z (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
3,000,000 | 0.600 | 03/05/09 | 3,000,000 | |||||||||||
$ | 498,287,351 | |||||||||||||
Indiana—1.6% | ||||||||||||||
Indiana Bond Bank VRDN RB Special Program Gas Revenue Putters Series 2008-2882 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
6,920,000 | 0.600 | 03/05/09 | 6,920,000 | |||||||||||
Indiana Health & Educational Facility Financing Authority VRDN RB Ascension Health ROCS-RR-II R-11160 Series 2007 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
6,670,000 | 0.680 | 03/05/09 | 6,670,000 | |||||||||||
Indiana Health Facilities Finance Authority VRDN RB Ascension Health Series 2003 E-6 (AA/Aa1) | ||||||||||||||
37,000,000 | 1.750 | 04/01/09 | 37,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
22
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Indiana (continued) | ||||||||||||||
Indiana State Finance Authority Health Systems VRDN RB Sisters St. Francis Series 2008 A (JPMorgan Chase & Co. LOC) (VMIG1) | ||||||||||||||
$ | 17,000,000 | 0.500 | % | 03/05/09 | $ | 17,000,000 | ||||||||
Indiana State Finance Authority Health Systems VRDN RB Sisters of St. Francis Health Series 2008 F (Bank of New York LOC) (VMIG1) | ||||||||||||||
7,640,000 | 0.400 | 03/05/09 | 7,640,000 | |||||||||||
Indiana State Finance Authority RB for Revolving Fund Program Series 2006 A (AAA/Aaa) | ||||||||||||||
3,000,000 | 5.000 | 02/01/10 | 3,115,384 | |||||||||||
Indiana State Finance Authority VRDN RB Ascension Health Credit Series 2008 E-1 (A-1+/VMIG1) | ||||||||||||||
10,400,000 | 0.350 | 03/04/09 | 10,400,000 | |||||||||||
Indiana State Finance Authority VRDN RB Floaters Series 2007-1885 (Wells Fargo Bank N.A. SPA) (A-1+)(b) | ||||||||||||||
12,860,000 | 1.000 | 03/05/09 | 12,860,000 | |||||||||||
Indiana State Health System Finance Authority VRDN RB for Sisters of St. Francis Health Series 2008 G (Bank of New York LOC) (VMIG1) | ||||||||||||||
4,000,000 | 0.400 | 03/05/09 | 4,000,000 | |||||||||||
Purdue University VRDN RB Student Facilities System Series 2005 A (A-1+/VMIG1) | ||||||||||||||
19,140,000 | 0.400 | 03/04/09 | 19,140,000 | |||||||||||
Reid Hospital & Health Care Services, Inc. Richmond Hospital Authority VRDN RB for Reid Hospital Project Series 2005 B (FSA) (A-1+) | ||||||||||||||
13,310,000 | 2.000 | 03/04/09 | 13,310,000 | |||||||||||
Reid Hospital & Health Care Services, Inc. Richmond Hospital Authority VRDN RB for Reid Hospital Project Series 2005 C (FSA) (A-1+) | ||||||||||||||
12,655,000 | 2.000 | 03/04/09 | 12,655,000 | |||||||||||
St. Joseph County Educational Facilities VRDN RB for University of Notre Dame Du Lac Series 1998 (Wells Fargo Bank N.A. SPA) (VMIG1) | ||||||||||||||
18,000,000 | 0.350 | 03/05/09 | 18,000,000 | |||||||||||
$ | 168,710,384 | |||||||||||||
Iowa—0.0% | ||||||||||||||
Iowa Finance Authority RB Revolving Fund Series 2001 (AAA/Aaa) | ||||||||||||||
3,725,000 | 5.250 | 08/01/09 | 3,778,426 | |||||||||||
Kansas—0.3% | ||||||||||||||
Kansas State DOT Highway VRDN RB Putters Series 2008-2969 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,840,000 | 0.600 | 03/05/09 | 3,840,000 | |||||||||||
Kansas State DOT Highway VRDN RB Series 2000 C-1 (Kansas State LOC) (A-1+/VMIG1) | ||||||||||||||
25,210,000 | 0.500 | 03/04/09 | 25,210,000 | |||||||||||
$ | 29,050,000 | |||||||||||||
Kentucky—0.1% | ||||||||||||||
Kentucky Asset/Liability Community General Fund TRANS Series 2008 A (SP-1+/MIG1) | ||||||||||||||
16,400,000 | 3.000 | 06/25/09 | 16,462,477 | |||||||||||
Louisiana—0.4% | ||||||||||||||
Louisiana Public Facilities Authority Hospital VRDN RB Refunding for Franciscan Mission Series 2008 A (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.700 | 03/05/09 | 5,000,000 | |||||||||||
Louisiana Public Facilities Authority VRDN RB Refunding for Christus Health Series 2008 D-1 (Bank of Nova Scotia LOC) (A-1+/VMIG1) | ||||||||||||||
6,300,000 | 0.550 | 03/04/09 | 6,300,000 | |||||||||||
Saint James Parish VRDN PCRB Refunding for Occidental Petroleum Series 1996 (Bayerische Landesbank LOC) (P-1) | ||||||||||||||
11,710,000 | 0.550 | 03/04/09 | 11,710,000 | |||||||||||
South Louisiana Commission Port VRDN RB Refunding for Occidental Petroleum Series 1996 (Bank of New York LOC) (P-1) | ||||||||||||||
17,220,000 | 0.550 | 03/04/09 | 17,220,000 | |||||||||||
$ | 40,230,000 | |||||||||||||
Maryland—1.6% | ||||||||||||||
Johns Hopkins Economic Development CP Series 2009 E (Bank of America N.A. LOC) (A-1/P-1) | ||||||||||||||
19,000,000 | 0.450 | 04/02/09 | 19,000,000 | |||||||||||
19,000,000 | 0.600 | 04/03/09 | 19,000,000 | |||||||||||
Johns Hopkins University Health System CP Series 2009 B (Wachovia Bank N.A. SPA) | ||||||||||||||
22,400,000 | 0.700 | 03/02/09 | 22,400,000 | |||||||||||
44,200,000 | 0.700 | 05/18/09 | 44,200,000 | |||||||||||
15,650,000 | 0.700 | 05/19/09 | 15,650,000 | |||||||||||
Maryland State Economic Development Corp. VRDN RB Refunding for Howard Hughes Medical Center Series 2008 B (A-1+/VMIG1) | ||||||||||||||
37,400,000 | 0.450 | 03/04/09 | 37,400,000 | |||||||||||
Maryland State GO Bonds State and Local Facilities Series 2004 (AAA/Aaa) | ||||||||||||||
7,000,000 | 5.000 | 08/01/09 | 7,087,283 | |||||||||||
Maryland State Health & Higher Educational Facilities Authority RB Refunding for Johns Hopkins University Series 1998 (AA/Aa2) | ||||||||||||||
3,605,000 | 6.000 | 07/01/09 | 3,662,077 | |||||||||||
The accompanying notes are an integral part of these financial statements.
23
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Maryland (continued) | ||||||||||||||
Montgomery County GO Bonds Public Improvement Series 2006 A (AAA/Aaa) | ||||||||||||||
$ | 4,000,000 | 5.000 | % | 05/01/09 | $ | 4,019,094 | ||||||||
Washington Suburban Sanitation District GO Bonds Refunding General Construction Series 2004 (AAA/Aaa) | ||||||||||||||
3,000,000 | 5.000 | 06/01/09 | 3,021,267 | |||||||||||
$ | 175,439,721 | |||||||||||||
Massachusetts—3.3% | ||||||||||||||
Boston Water & Sewer System CP Series 2009 (Bank of America N.A. SPA) | ||||||||||||||
4,500,000 | 0.600 | 07/07/09 | 4,500,000 | |||||||||||
Massachusetts Bay Transportation Authority Puttable Floating Option Tax-Exempt Receipts VRDN RB P-Floats-PT-4368 Series 2007 (Wells Fargo Bank SPA) (A-1+)(a) | ||||||||||||||
5,060,000 | 0.630 | 03/05/09 | 5,060,000 | |||||||||||
Massachusetts Bay Transportation Authority Sales Tax VRDN RB Putters Series 2006-1387 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
9,720,000 | 0.580 | 03/05/09 | 9,720,000 | |||||||||||
Massachusetts Bay Transportation Authority Sales Tax VRDN RB ROCS-RR-II R-11492 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
2,600,000 | 0.680 | 03/05/09 | 2,600,000 | |||||||||||
Massachusetts Bay Transportation Authority VRDN RB Putters Series 2008-3260 (JPMorgan Chase Bank & Co. SPA) (A-1)(a) | ||||||||||||||
11,220,000 | 0.580 | 03/05/09 | 11,220,000 | |||||||||||
Massachusetts Bay Transportation Sales Tax Austin Trust Certificates VRDN RB Series 2008-1111 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
3,500,000 | 0.570 | 03/05/09 | 3,500,000 | |||||||||||
Massachusetts School Building Authority CP Series 2009 A (Bank of Nova Scotia SPA) | ||||||||||||||
7,500,000 | 0.450 | 03/06/09 | 7,500,000 | |||||||||||
Massachusetts State Austin Trust Certificates VRDN RB for Partners Healthcare Series 2008-1056 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
5,180,000 | 0.570 | 03/05/09 | 5,180,000 | |||||||||||
Massachusetts State Development Finance Agency VRDN RB Clark University Series 2008 (T.D. BankNorth N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
6,650,000 | 0.530 | 03/04/09 | 6,650,000 | |||||||||||
Massachusetts State Development Finance Agency VRDN RB Refunding for Higher Education Smith College Series 2001 (A-1+/VMIG1) | ||||||||||||||
1,367,000 | 0.300 | 03/05/09 | 1,367,000 | |||||||||||
Massachusetts State Development Finance Agency VRDN RB Refunding for Higher Education Smith College Series 2002 (A-1+/VMIG1) | ||||||||||||||
12,831,000 | 0.300 | 03/05/09 | 12,831,000 | |||||||||||
Massachusetts State GO Notes Series A(c) (AAA/Aa2) | ||||||||||||||
14,900,000 | 2.000 | 03/01/10 | 14,900,000 | |||||||||||
Massachusetts State GO Notes Series 1999 C (AAA/Aa2) | ||||||||||||||
4,000,000 | 5.750 | 09/01/09 | 4,109,850 | |||||||||||
Massachusetts State GO RANS Series 2008 C (SP-1+/MIG1) | ||||||||||||||
60,000,000 | 4.000 | 05/29/09 | 60,259,707 | |||||||||||
Massachusetts State GO VRDN Putters Series 2009-3337 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
2,475,000 | 0.580 | 03/05/09 | 2,475,000 | |||||||||||
Massachusetts State GO VRDN Refunding Series 1998 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
37,000,000 | 0.450 | 03/05/09 | 37,000,000 | |||||||||||
Massachusetts State Health & Education Facilities Authority VRDN RB for Williams College Series 2003 I RMKT (A-1+/VMIG1) | ||||||||||||||
5,044,000 | 0.300 | 03/05/09 | 5,044,000 | |||||||||||
Massachusetts State Health & Education Facilities Authority for Partners Healthcare System CP Series 2008 H-1 (A-1+) | ||||||||||||||
17,500,000 | 1.570 | 03/02/09 | 17,500,000 | |||||||||||
5,000,000 | 1.570 | 03/03/09 | 5,000,000 | |||||||||||
Massachusetts State Health & Education Facilities Authority for Partners Healthcare System CP Series 2009 H-2 | ||||||||||||||
8,000,000 | 0.400 | 04/02/09 | 8,000,000 | |||||||||||
15,790,000 | 0.550 | 05/18/09 | 15,790,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Amherst College Series 2005 I (A-1+/VMIG1) | ||||||||||||||
12,680,000 | 0.450 | 03/05/09 | 12,680,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Capital Asset Program Series 1985 E (Fleet National Bank LOC) (VMIG1) | ||||||||||||||
7,000,000 | 0.600 | 03/02/09 | 7,000,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Harvard University Putters Series 2008-3104 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,040,000 | 0.600 | 03/05/09 | 3,040,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Harvard University ROCS-RR-II R-11514 Series 2008 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
5,390,000 | 0.680 | 03/05/09 | 5,390,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Partners Healthcare System Series 2005 F-3 (Citibank N.A. SPA) (A-1/VMIG1) | ||||||||||||||
6,000,000 | 0.510 | 03/05/09 | 6,000,000 | |||||||||||
Massachusetts State Health & Educational Facilities Authority VRDN RB for Tufts University Series 1995 G (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
3,000,000 | 0.530 | 03/04/09 | 3,000,000 | |||||||||||
Massachusetts State Water Resources Authority RB Series 1992 A (AA+/Aa2) | ||||||||||||||
2,000,000 | 6.500 | 07/15/09 | 2,035,912 | |||||||||||
The accompanying notes are an integral part of these financial statements.
24
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Massachusetts (continued) | ||||||||||||||
Massachusetts Water Resources Authority CP Series 2009-94 (Bayerische Landesbank LOC) (A-1) | ||||||||||||||
$ | 13,200,000 | 0.650 | % | 03/10/09 | $ | 13,200,000 | ||||||||
15,000,000 | 0.900 | 03/10/09 | 15,000,000 | |||||||||||
40,600,000 | 0.450 | 04/01/09 | 40,600,000 | |||||||||||
University of Massachusetts Building Authority VRDN RB Refunding Senior Community GTD Series 2008-4 (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
1,860,000 | 0.590 | 03/04/09 | 1,860,000 | |||||||||||
$ | 350,012,469 | |||||||||||||
Michigan—5.6% | ||||||||||||||
Central Michigan University VRDN RB Refunding General Series 2008 A (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
13,995,000 | 0.530 | 03/05/09 | 13,995,000 | |||||||||||
Lenawee County Hospital Finance Authority VRDN RB Refunding & Improvement Promedica Healthcare Series 2008 C (UBS AG LOC) (A-1/VMIG1) | ||||||||||||||
7,000,000 | 0.720 | 03/04/09 | 7,000,000 | |||||||||||
Michigan Municipal Bond Authority RANS Clean Water Revolving Series 2008 (SP-1+/MIG1) | ||||||||||||||
17,000,000 | 3.000 | 07/15/09 | 17,134,074 | |||||||||||
Michigan Municipal Bond Authority RB for Clean Water Revolving Series 1999 (AAA/Aaa) | ||||||||||||||
13,000,000 | 5.500 | 10/01/09 | 13,394,941 | |||||||||||
Michigan Municipal Bond Authority VRDN RB Putters Series 2002-286 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
4,100,000 | 0.600 | 03/05/09 | 4,100,000 | |||||||||||
Michigan Municipal Bond Authority VRDN RB ROCS-RR-II R-11254 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,800,000 | 0.690 | 03/05/09 | 3,800,000 | |||||||||||
Michigan Municipal Bond Water Finance Authority VRDN RB Putters Series 2008-3263 (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
7,500,000 | 0.600 | 03/05/09 | 7,500,000 | |||||||||||
Michigan State GO RANS Series 2008 B (SP-1+/MIG1) | ||||||||||||||
50,000,000 | 3.000 | 09/30/09 | 50,388,521 | |||||||||||
Michigan State GO TANS Series 2008 A (SP-1+/MIG1) | ||||||||||||||
174,000,000 | 3.000 | 09/30/09 | 175,049,067 | |||||||||||
Michigan State Hospital Finance Authority VRDN RB for Ascension Health Credit Series 2008 B-1 (A-1+/VMIG1) | ||||||||||||||
25,520,000 | 0.350 | 03/04/09 | 25,520,000 | |||||||||||
Michigan State Hospital Finance Authority VRDN RB for Ascension Health Credit Series 2008 B-3 (A-1+/VMIG1) | ||||||||||||||
10,000,000 | 0.350 | 03/04/09 | 10,000,000 | |||||||||||
Michigan State Hospital Finance Authority VRDN RB for Ascension Health Credit Series 2008 B-5 (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.350 | 03/04/09 | 5,000,000 | |||||||||||
Michigan State Hospital Finance Authority VRDN RB for Ascension Health Credit Series 2008 B-7 (A-1+/VMIG1) | ||||||||||||||
4,800,000 | 0.350 | 03/04/09 | 4,800,000 | |||||||||||
Michigan State Hospital Finance Authority VRDN RB for Trinity Health Putters Series 2008-2976 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
5,110,000 | 0.600 | 03/05/09 | 5,110,000 | |||||||||||
Michigan State Hospital Finance Authority for Trinity Health Credit CP Series 2009 | ||||||||||||||
62,000,000 | 0.650 | 05/18/09 | 62,000,000 | |||||||||||
Michigan State University VRDN RB General Series 2003 A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
3,510,000 | 0.530 | 03/04/09 | 3,510,000 | |||||||||||
Michigan State University VRDN RB Refunding General Series 2003 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
1,920,000 | 0.530 | 03/04/09 | 1,920,000 | |||||||||||
Plymouth-Canton Community School District GO Bonds Series 1999 (AA-/Aa3) | ||||||||||||||
1,000,000 | 4.750 | 05/01/09 | 1,006,277 | |||||||||||
University of Michigan VRDN RB General Series 2002 (A-1+/VMIG1) | ||||||||||||||
3,840,000 | 0.300 | 03/05/09 | 3,840,000 | |||||||||||
University of Michigan VRDN RB General Series 2005 B (A-1+/VMIG1) | ||||||||||||||
39,700,000 | 0.350 | 03/05/09 | 39,700,000 | |||||||||||
University of Michigan VRDN RB General Series 2008 B (A-1+/VMIG1) | ||||||||||||||
70,760,000 | 0.400 | 03/05/09 | 70,760,000 | |||||||||||
University of Michigan VRDN RB Hospital Series 1995 A (A-1+/VMIG1) | ||||||||||||||
3,700,000 | 0.400 | 03/04/09 | 3,700,000 | |||||||||||
University of Michigan VRDN RB Hospital Series 2007 B (A-1+/VMIG1)(c) | ||||||||||||||
42,385,000 | 0.400 | 03/05/09 | 42,385,000 | |||||||||||
University of Michigan VRDN RB Medical Services Plan Series 2006 A (A-1+/VMIG1) | ||||||||||||||
4,000,000 | 0.400 | 03/04/09 | 4,000,000 | |||||||||||
University of Michigan VRDN RB Refunding for Hospital Series 1992 A (A-1+/VMIG1) | ||||||||||||||
17,000,000 | 0.450 | 03/02/09 | 17,000,000 | |||||||||||
University of Michigan VRDN RB Refunding for Medical Service Plan Series 1998 A-1 (A-1+/VMIG1) | ||||||||||||||
11,365,000 | 0.450 | 03/02/09 | 11,365,000 | |||||||||||
$ | 603,977,880 | |||||||||||||
Minnesota—2.3% | ||||||||||||||
Minneapolis City Tax Increment GO Bonds Series 2000 E (AAA/Aa1) | ||||||||||||||
3,000,000 | 5.000 | 03/02/09 | 3,030,000 | |||||||||||
Minneapolis Health Care System VRDN RB for Fairview Health Services Series 2008 C (Wells Fargo Bank N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
14,900,000 | 0.530 | 03/04/09 | 14,900,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
25
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Minnesota (continued) | ||||||||||||||
Minnesota Public Facilities Authority Water PCRB Series 2005 C (AAA/Aaa) | ||||||||||||||
$ | 5,000,000 | 5.000 | % | 03/01/09 | $ | 5,000,402 | ||||||||
Minnesota State GO Bonds Refunding Series 2007 (AAA/Aa1) | ||||||||||||||
12,000,000 | 5.000 | 08/01/09 | 12,164,743 | |||||||||||
Minnesota State GO Bonds Series 1999 (AAA/Aa1) | ||||||||||||||
3,000,000 | 5.250 | 08/01/09 | 3,042,317 | |||||||||||
Minnesota State GO Bonds Series 2009 A (AAA/Aa1) | ||||||||||||||
7,350,000 | 3.000 | 12/01/09 | 7,487,986 | |||||||||||
Minnesota State GO VRDN ROCS-RR-II R-11695 Series 2008 (Citigroup Global Markets SPA) (A-1)(a) | ||||||||||||||
3,000,000 | 0.690 | 03/05/09 | 3,000,000 | |||||||||||
Minnesota State Higher Education Facilities Authority VRDN RB for Carleton College Series 1992 3-L2 (Wells Fargo Bank N.A. SPA) (VMIG1) | ||||||||||||||
3,175,000 | 0.580 | 03/05/09 | 3,175,000 | |||||||||||
Minnesota State Higher Education Facilities VRDN RB for Carleton College Series 2005 6-D (Wells Fargo Bank N.A. SPA) (VMIG1) | ||||||||||||||
5,600,000 | 0.500 | 03/05/09 | 5,600,000 | |||||||||||
Rochester Health Care Facilities Mayo Clinic CP Series 2000 B (U.S. Bank N.A. SPA) | ||||||||||||||
19,000,000 | 0.450 | 03/09/09 | 19,000,000 | |||||||||||
Rochester Health Care Facilities VRDN RB Mayo Clinic Series 2008 D (A-1+) | ||||||||||||||
10,000,000 | 1.680 | 03/30/09 | 10,000,000 | |||||||||||
Rochester Health Care Facilities VRDN RB Mayo Clinic Series 2008 E (A-1+) | ||||||||||||||
6,500,000 | 1.680 | 05/07/09 | 6,500,000 | |||||||||||
St. Louis Park VRDN RB Refunding for Park Nicollet Health Services Series 2008 A (Wells Fargo Bank N.A. LOC) (A-1+) | ||||||||||||||
5,000,000 | 0.530 | 03/05/09 | 5,000,000 | |||||||||||
St. Louis Park VRDN RB Refunding for Park Nicollet Health Services Series 2008 B-1 (Wells Fargo Bank N.A. LOC) (A-1+) | ||||||||||||||
7,500,000 | 0.500 | 03/05/09 | 7,500,000 | |||||||||||
University of Minnesota CP Series 2008 (A-1) | ||||||||||||||
24,845,000 | 1.600 | 03/02/09 | 24,845,000 | |||||||||||
University of Minnesota CP Series 2009 | ||||||||||||||
12,300,000 | 0.650 | 04/03/09 | 12,300,000 | |||||||||||
33,360,000 | 0.450 | 05/18/09 | 33,360,000 | |||||||||||
University of Minnesota VRDN RB Refunding Series 2008 A RMKT (University of Minnesota SPA) (A-1+/VMIG1) | ||||||||||||||
12,000,000 | 0.350 | 03/04/09 | 12,000,000 | |||||||||||
University of Minnesota VRDN RB Series 1999 A (Landesbank Hessen-Thueringen SPA) (A-1/VMIG1) | ||||||||||||||
58,825,000 | 0.350 | 03/04/09 | 58,825,000 | |||||||||||
$ | 246,730,448 | |||||||||||||
Mississippi—0.6% | ||||||||||||||
Jackson County VRDN PCRB Refunding for Chevron USA, Inc. Project Series 1993 (VMIG1) | ||||||||||||||
10,750,000 | 0.600 | 03/02/09 | 10,750,000 | |||||||||||
Mississippi State GO VRDN ROCS-RR-II R-12158 Series 2007 (Citibank N.A. SPA) (A-1+/VMIG1)(a) | ||||||||||||||
14,280,000 | 0.710 | 03/05/09 | 14,280,000 | |||||||||||
Mississippi State GO VRDN for Nissan Project Series 2003 C RMKT (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
16,870,000 | 0.650 | 03/04/09 | 16,870,000 | |||||||||||
Mississippi State Hospital Equipment & Facilities Authority RB for Baptist Memorial Health Services Series 2004 B2 (AA) | ||||||||||||||
18,325,000 | 0.750 | 03/05/09 | 18,325,000 | |||||||||||
$ | 60,225,000 | |||||||||||||
Missouri—2.8% | ||||||||||||||
Curators University Systems Facilities VRDN RB Refunding Series 2007 B (A-1+/VMIG1) | ||||||||||||||
900,000 | 0.530 | 03/05/09 | 900,000 | |||||||||||
Curators University Systems Facilities VRDN RB Series 2006 B (A-1+/VMIG1) | ||||||||||||||
11,705,000 | 0.450 | 03/02/09 | 11,705,000 | |||||||||||
Kansas City Special Obligation VRDN RB Refunding for H. Roe Bartle Series 2008 E (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
21,250,000 | 0.580 | 03/04/09 | 21,250,000 | |||||||||||
Missouri Development Finance Board Cultural Facilities VRDN RB Putters Series 2008-2736 (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
6,925,000 | 0.600 | 03/05/09 | 6,925,000 | |||||||||||
Missouri Development Finance Board Cultural Facilities VRDN RB for Nelson Gallery Hall Family Foundation Series 2004 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
5,400,000 | 0.600 | 03/02/09 | 5,400,000 | |||||||||||
Missouri Development Finance Board Cultural Facilities VRDN RB for Nelson Gallery Hall Family Foundation Series 2008 A (JPMorgan Chase & Co. SPA) (A-1+) | ||||||||||||||
73,200,000 | 0.650 | 03/02/09 | 73,200,000 | |||||||||||
Missouri State Health & Educational Facilities Authority RB for Ascension Health Series 2008 C-4 (VMIG1) | ||||||||||||||
8,000,000 | 3.500 | 11/15/09 | 8,149,637 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB Putters Series 2008-2587 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
7,955,000 | 0.600 | 03/05/09 | 7,955,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB Refunding for Saint Luke’s Systems Series 2008 C (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
15,000,000 | 0.500 | 03/04/09 | 15,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
26
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Missouri (continued) | ||||||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB Refunding for Sisters of Mercy Health System Series 2008 A (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 4,600,000 | 0.650 | % | 03/02/09 | $ | 4,600,000 | ||||||||
Missouri State Health & Educational Facilities Authority VRDN RB Refunding for Sisters of Mercy Health System Series 2008 B (Bank of America N.A SPA) (A-1+/VMIG1) | ||||||||||||||
7,800,000 | 0.650 | 03/02/09 | 7,800,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Ascension Health Series 2008 C-5 (VMIG1) | ||||||||||||||
9,000,000 | 3.500 | 11/15/09 | 9,123,087 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for BJC Health Systems Series 2008 A (U.S. Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.300 | 03/05/09 | 5,000,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for BJC Health Systems Series 2008 B (U.S. Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
10,000,000 | 0.430 | 03/05/09 | 10,000,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for SSM Health Care System Series 2005 A-1 RMKT (Bank of America N.A. LOC) (A-1+) | ||||||||||||||
15,500,000 | 0.580 | 03/04/09 | 15,500,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for SSM Health Care System Series 2005 C-3 RMKT (UBS AG SPA) (A-1+) | ||||||||||||||
31,200,000 | 0.570 | 03/04/09 | 31,200,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for SSM Health Care System Series 2005 C-5 RMKT (U.S. Bank N.A. SPA) (A-1+) | ||||||||||||||
20,200,000 | 0.570 | 03/04/09 | 20,200,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for SSM Health Care System Series 2005 D-4 RMKT (JPMorgan Chase & Co. SPA) (A-1+) | ||||||||||||||
1,000,000 | 0.580 | 03/04/09 | 1,000,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Saint Luke’s Health Systems Series 2008 A (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
19,000,000 | 0.500 | 03/04/09 | 19,000,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Saint Luke’s Health Systems Series 2008 B (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
8,250,000 | 0.500 | 03/04/09 | 8,250,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for St. Louis University Series 2008 B-1 (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
1,500,000 | 0.600 | 03/02/09 | 1,500,000 | |||||||||||
Missouri State Health & Educational Facilities Authority VRDN RB for Washington University Series 2004 B (Wells Fargo Bank N.A. SPA) (A-1/VMIG1) | ||||||||||||||
7,260,000 | 0.450 | 03/02/09 | 7,260,000 | |||||||||||
Missouri State Highways and Transportation Commission VRDN RB Putters Series 2008-2623 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
2,435,000 | 0.600 | 03/05/09 | 2,435,000 | |||||||||||
University of Missouri VRDN RB for Systems Facilities Series 2000 B (A-1+/VMIG1) | ||||||||||||||
7,200,000 | 0.600 | 03/02/09 | 7,200,000 | |||||||||||
University of Missouri VRDN RB for Systems Facilities Series 2001 A (A-1+/VMIG1) | ||||||||||||||
2,445,000 | 0.600 | 03/02/09 | 2,445,000 | |||||||||||
$ | 302,997,724 | |||||||||||||
Montana—0.2% | ||||||||||||||
Montana Facilities Finance Authority VRDN RB for Sisters of Charity Health Systems Series 2003 (Bank of Montreal SPA) (A-1/VMIG1) | ||||||||||||||
12,000,000 | 0.590 | 03/04/09 | 12,000,000 | |||||||||||
Montana Facilities Finance Authority VRDN RB for Sisters of Charity Series 2006 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
12,075,000 | 0.650 | 03/02/09 | 12,075,000 | |||||||||||
$ | 24,075,000 | |||||||||||||
Nebraska—0.2% | ||||||||||||||
American Public Energy Agency Nebraska Gas Supply VRDN RB National Public Gas Agency Project Series 2003 B (BP Corporation North SPA) (A-1+/VMIG1) | ||||||||||||||
2,400,000 | 0.400 | 03/05/09 | 2,400,000 | |||||||||||
Lincoln City COPS Lease Rental Series 2008 (Aaa) | ||||||||||||||
1,230,000 | 3.500 | 03/15/09 | 1,230,782 | |||||||||||
Nebraska Educational Finance Authority VRDN RB Refunding for Creighton University Projects Series 2008 (JPMorgan Chase & Co. LOC) (VMIG1) | ||||||||||||||
3,000,000 | 0.600 | 03/02/09 | 3,000,000 | |||||||||||
Omaha GO VRDN Eagle Tax-Exempt Trust Series 2004-011 Class A (Landesbank Hessen-Thueringen SPA) (A-1)(a) | ||||||||||||||
5,995,000 | 0.690 | 03/05/09 | 5,995,000 | |||||||||||
Omaha Public Power District Electric VRDN RB ROCS-RR-II R-11291 Series 2007 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
8,560,000 | 0.680 | 03/05/09 | 8,560,000 | |||||||||||
$ | 21,185,782 | |||||||||||||
Nevada—1.0% | ||||||||||||||
Clark County Bond Bank CP Series 2008 (Bank of America N.A. LOC) (A-1+) | ||||||||||||||
8,900,000 | 0.900 | 03/13/09 | 8,900,000 | |||||||||||
Clark County GO VRDN Putters Series 2008-3228 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
5,215,000 | 0.600 | 03/05/09 | 5,215,000 | |||||||||||
Clark County Highway CP Series 2009 (BNP Paribas LOC) | ||||||||||||||
4,000,000 | 0.700 | 04/01/09 | 4,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
27
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Nevada (continued) | ||||||||||||||
Clark County School District GO Bonds Refunding Series 1999 (FSA) (AAA/Aa2) | ||||||||||||||
$ | 3,000,000 | 4.750 | % | 06/15/09 | $ | 3,027,270 | ||||||||
Clark County School District GO Bonds Series 1999 B (MBIA) (FGIC) (AA/Aa2) | ||||||||||||||
1,000,000 | 5.500 | 06/15/09 | 1,010,444 | |||||||||||
Clark County School District GO Bonds Tax Building Series 2008 A (AA/Aa2) | ||||||||||||||
68,000,000 | 5.000 | 06/15/09 | 68,617,364 | |||||||||||
Clark County School District GO VRDN ROCS-RR-II R-11297 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
8,750,000 | 0.680 | 03/05/09 | 8,750,000 | |||||||||||
Las Vegas Valley Water CP Series 2009 (BNP Paribas and Lioyds TSB Bank SPA) (A-1+/P-1) | ||||||||||||||
4,000,000 | 0.700 | 03/04/09 | 4,000,000 | |||||||||||
Nevada State GO Bonds Refunding for Capital Improvement Series 2005 A (AA+/Aa1) | ||||||||||||||
9,500,000 | 5.000 | 02/01/10 | 9,876,764 | |||||||||||
$ | 113,396,842 | |||||||||||||
New Hampshire—0.2% | ||||||||||||||
New Hampshire Health & Education Facilities Authority VRDN RB for Dartmouth College Series 2002 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
10,075,000 | 0.430 | 03/04/09 | 10,075,000 | |||||||||||
New Hampshire State GO Bonds Refunding Series 2003 A (AA/Aa2) | ||||||||||||||
8,480,000 | 5.000 | 07/15/09 | 8,605,265 | |||||||||||
$ | 18,680,265 | |||||||||||||
New Jersey—0.9% | ||||||||||||||
New Jersey Economic Development Authority VRDN RB Refunding for School Facilities Construction Series 2008 V3 (Bank of Nova Scotia LOC) (A-1+/VMIG1) | ||||||||||||||
87,600,000 | 0.530 | 03/04/09 | 87,600,000 | |||||||||||
New Jersey State Environmental Infrastructure RB Series 2007 A (AAA/Aaa) | ||||||||||||||
6,000,000 | 5.000 | 09/01/09 | 6,115,487 | |||||||||||
$ | 93,715,487 | |||||||||||||
New Mexico—0.4% | ||||||||||||||
Bernalillo County TRANS Series 2008 (SP-1+/MIG1) | ||||||||||||||
22,000,000 | 2.500 | 12/15/09 | 22,263,900 | |||||||||||
University of New Mexico VRDN RB Refunding Subordinated Lien Systems Series 2003 B (Westdeutsche Landesbank AG SPA) (A-1+/VMIG1) | ||||||||||||||
20,810,000 | 0.680 | 03/04/09 | 20,810,000 | |||||||||||
$ | 43,073,900 | |||||||||||||
New York—13.0% | ||||||||||||||
Long Island Power Authority Electric System VRDN RB Series 1998 Subseries 1A RMKT (Bayerische Landesbank and Landesbank Baden-Wurttemberg LOC) (A-1+/VMIG1) | ||||||||||||||
30,300,000 | 0.580 | 03/04/09 | 30,300,000 | |||||||||||
Long Island Power Authority Electric System VRDN RB Series 1998 Subseries 3B RMKT (Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
6,700,000 | 0.480 | 03/02/09 | 6,700,000 | |||||||||||
Metropolitan Transportation Authority RB for Commuter Facilities Series 1999 A (AAA) | ||||||||||||||
700,000 | 6.125 | 07/01/09 | 711,972 | |||||||||||
Metropolitan Transportation Authority VRDN RB Dedicated Tax Fund Refunding Series 2008 Subseries B-1 (Bank of Nova Scotia LOC) (A-1+) | ||||||||||||||
11,300,000 | 0.350 | 03/05/09 | 11,300,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Dedicated Tax Fund Refunding Series 2008 Subseries B-2 (BNP Paribas LOC) (A-1+) | ||||||||||||||
8,000,000 | 0.350 | 03/05/09 | 8,000,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Dedicated Tax Fund Refunding Series 2008 Subseries B-3 (Lloyds TSB Bank PLC LOC) (A-1+) | ||||||||||||||
17,900,000 | 0.350 | 03/05/09 | 17,900,000 | |||||||||||
Metropolitan Transportation Authority VRDN RB Putters Series 2008-3005 (BHAC) (JPMorgan Chase & Co. SPA)(a) | ||||||||||||||
3,105,000 | 0.750 | 03/05/09 | 3,105,000 | |||||||||||
Nassau County GO VRDN Series 2007 A (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
1,775,000 | 0.550 | 03/04/09 | 1,775,000 | |||||||||||
Nassau County IDA Civic Facility VRDN RB for Cold Spring Harbor Laboratory Series 2008 RMKT (JPMorgan Chase & Co. SPA) (VMIG1) | ||||||||||||||
36,050,000 | 0.550 | 03/02/09 | 36,050,000 | |||||||||||
New York City Austin Trust Certificates GO VRDN Series 2008-1064 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
8,000,000 | 0.570 | 03/05/09 | 8,000,000 | |||||||||||
New York City GO VRDN Putters Series 2008-2951 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
4,465,000 | 0.580 | 03/05/09 | 4,465,000 | |||||||||||
New York City GO VRDN Putters Series 2008-3006 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
6,660,000 | 0.580 | 03/05/09 | 6,660,000 | |||||||||||
New York City GO VRDN Putters Series 2008-3181 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
6,660,000 | 0.580 | 03/05/09 | 6,660,000 | |||||||||||
New York City GO VRDN Putters Series 2008-3282 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,350,000 | 0.580 | 03/05/09 | 3,350,000 | |||||||||||
New York City GO VRDN ROCS-RR-II R-11464 Series 2008 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
5,145,000 | 0.680 | 03/05/09 | 5,145,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
28
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
New York (continued) | ||||||||||||||
New York City GO VRDN ROCS-RR-II R-11515 Series 2008 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
$ | 5,940,000 | 0.680 | % | 03/05/09 | $ | 5,940,000 | ||||||||
New York City GO VRDN ROCS-RR-II R-11668 Series 2008 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
35,695,000 | 0.670 | 03/05/09 | 35,695,000 | |||||||||||
New York City GO VRDN Series 1993 Subseries A-4 (Bayerische Landesbank LOC) (A-1+/VMIG1) | ||||||||||||||
11,100,000 | 0.550 | 03/02/09 | 11,100,000 | |||||||||||
New York City GO VRDN Series 1993 Subseries E-2 (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
6,700,000 | 0.550 | 03/02/09 | 6,700,000 | |||||||||||
New York City GO VRDN Series 1994 Subseries B-9 RMKT (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
11,800,000 | 0.510 | 03/04/09 | 11,800,000 | |||||||||||
New York City GO VRDN Series 1996 Subseries J-2 RMKT (Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
38,000,000 | 0.560 | 03/04/09 | 38,000,000 | |||||||||||
New York City GO VRDN Series 1996 Subseries J-3 RMKT (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
18,600,000 | 0.510 | 03/04/09 | 18,600,000 | |||||||||||
New York City GO VRDN Series 2002 Subseries C-2 (Bayerische Landesbank LOC) (A-1+/VMIG1) | ||||||||||||||
15,625,000 | 0.510 | 03/04/09 | 15,625,000 | |||||||||||
New York City GO VRDN Series 2002 Subseries C-3 (BNP Paribas LOC) (A-1+/VMIG1) | ||||||||||||||
3,900,000 | 0.400 | 03/04/09 | 3,900,000 | |||||||||||
New York City GO VRDN Series 2002 Subseries C-5 (Bank of New York LOC) (A-1+/VMIG1) | ||||||||||||||
9,900,000 | 0.480 | 03/04/09 | 9,900,000 | |||||||||||
New York City GO VRDN Series 2003 Subseries A-3 (BNP Paribas LOC) (A-1+/VMIG1) | ||||||||||||||
825,000 | 0.510 | 03/04/09 | 825,000 | |||||||||||
New York City GO VRDN Series 2003 Subseries A-4 (Bank of Nova Scotia LOC) (A-1+/VMIG1) | ||||||||||||||
6,400,000 | 0.550 | 03/04/09 | 6,400,000 | |||||||||||
New York City GO VRDN Series 2003 Subseries A-5 (Bank of Nova Scotia LOC) (A-1+/VMIG1) | ||||||||||||||
9,535,000 | 0.550 | 03/04/09 | 9,535,000 | |||||||||||
New York City GO VRDN Series 2003 Subseries A-6 (Landesbank Baden-Wurttemberg LOC) (A-1+/VMIG1) | ||||||||||||||
1,165,000 | 0.520 | 03/04/09 | 1,165,000 | |||||||||||
New York City GO VRDN Series 2003 Subseries G-3 (Bank of Nova Scotia LOC) (A-1+/VMIG1) | ||||||||||||||
9,000,000 | 0.400 | 03/04/09 | 9,000,000 | |||||||||||
New York City GO VRDN Series 2004 Subseries H-1 (Bank of New York LOC) (A-1+/VMIG1)(a) | ||||||||||||||
16,450,000 | 0.550 | 03/02/09 | 16,450,000 | |||||||||||
New York City GO VRDN Series 2004 Subseries H-2 (Bank of New York LOC) (A-1+/VMIG1) | ||||||||||||||
5,325,000 | 0.480 | 03/04/09 | 5,325,000 | |||||||||||
New York City GO VRDN Series 2004 Subseries H-3 (Bank of New York LOC) (A-1+/VMIG1) | ||||||||||||||
11,305,000 | 0.400 | 03/04/09 | 11,305,000 | |||||||||||
New York City GO VRDN Series 2004 Subseries H-8 (Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
23,365,000 | 0.600 | 03/04/09 | 23,365,000 | |||||||||||
New York City GO VRDN Series 2006 Subseries I-4 (Bank of New York LOC) (A-1+/VMIG1) | ||||||||||||||
26,275,000 | 0.500 | 03/04/09 | 26,275,000 | |||||||||||
New York City Housing Development Corp. MF Hsg. VRDN RB for 2 Gold Street Series 2006 A (FNMA) (A-1+) | ||||||||||||||
45,700,000 | 0.480 | 03/04/09 | 45,700,000 | |||||||||||
New York City Housing Development Corp. MF Hsg. VRDN RB for 90 West Street Series 2006 A (FNMA) (A-1+) | ||||||||||||||
39,900,000 | 0.480 | 03/04/09 | 39,900,000 | |||||||||||
New York City Municipal Finance Authority Water & Sewer Systems VRDN RB Second General Fiscal Series 2007 BB-2 (Bank of America N.A. SPA) (VMIG1) | ||||||||||||||
2,660,000 | 0.550 | 03/05/09 | 2,660,000 | |||||||||||
New York City Municipal Water Finance Authority Austin Trust Certificates VRDN RB Series 2007-1038 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
12,173,000 | 0.570 | 03/05/09 | 12,173,000 | |||||||||||
New York City Municipal Water Finance Authority Austin Trust Certificates VRDN RB Series 2008-1192 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
2,750,000 | 0.570 | 03/05/09 | 2,750,000 | |||||||||||
New York City Municipal Water Finance Authority Austin Trust Certificates VRDN RB Series 2008-3306 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
5,000,000 | 0.570 | 03/05/09 | 5,000,000 | |||||||||||
New York City Municipal Water Finance Authority CP Series 2009 (Bayerische Landesbank and Westdeutsche Landesbank AG SPA) (A-1) | ||||||||||||||
21,750,000 | 0.300 | 03/09/09 | 21,750,000 | |||||||||||
22,750,000 | 0.300 | 03/13/09 | 22,750,000 | |||||||||||
New York City Municipal Water Finance Authority CP Series 5 A (Bayerische Landesbank & Westdeutsche Landesbank AG SPA) (A-1) | ||||||||||||||
33,500,000 | 0.400 | 03/12/09 | 33,500,000 | |||||||||||
New York City Municipal Water Finance Authority VRDN RB Putters Series 2008-3092 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
13,405,000 | 0.580 | 03/05/09 | 13,405,000 | |||||||||||
New York City Municipal Water Finance Authority VRDN RB ROCS-RR-II R-11556 Series 2008 (BHAC) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,600,000 | 0.740 | 03/05/09 | 3,600,000 | |||||||||||
New York City Municipal Water Finance Authority Water & Sewer Systems VRDN RB Putters Series 2008-3038Z (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,920,000 | 0.580 | 03/05/09 | 3,920,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
29
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
New York (continued) | ||||||||||||||
New York City Municipal Water Finance Authority Water & Sewer VRDN RB Putters Series 2008-2540 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
$ | 1,455,000 | 0.580 | % | 03/05/09 | $ | 1,455,000 | ||||||||
New York City Municipal Water Finance Authority Water & Sewer VRDN RB ROCS-RR-II R-10381 Series 2009 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
11,000,000 | 0.670 | 03/05/09 | 11,000,000 | |||||||||||
New York City Municipal Water Finance Authority Water & Sewer VRDN RB ROCS-RR-II R-9301 Series 2008 (Citigroup Financial Products SPA) (A-1+)(a) | ||||||||||||||
5,440,000 | 0.580 | 03/05/09 | 5,440,000 | |||||||||||
New York City Municipal Water Finance Authority Water & Sewer VRDN RB Series 2008 Subseries B-4 (BNP Paribas SPA) (A-1+/VMIG1) | ||||||||||||||
5,400,000 | 0.460 | 03/05/09 | 5,400,000 | |||||||||||
New York City Putters Series 2008-2948 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
12,565,000 | 0.580 | 03/05/09 | 12,565,000 | |||||||||||
New York City Putters Series 2008-2950 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
6,115,000 | 0.580 | 03/05/09 | 6,115,000 | |||||||||||
New York City Transitional Finance Authority Austin Trust Certificates VRDN RB Series 2008-1190 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
3,170,000 | 0.570 | 03/05/09 | 3,170,000 | |||||||||||
New York City Transitional Finance Authority RB Future Tax Secured Series 1999 B (AAA/Aa1) | ||||||||||||||
6,000,000 | 5.125 | 05/01/09 | 6,088,857 | |||||||||||
New York City Transitional Finance Authority RB Prerefunded Future Tax Secured Series 1999 C (AAA/Aa1) | ||||||||||||||
3,675,000 | 5.500 | 05/01/09 | 3,731,705 | |||||||||||
New York City Transitional Finance Authority RB Unrefunded Balance Future Tax Secured Series 1998 A (AAA/Aa1) | ||||||||||||||
5,000,000 | 5.000 | 05/15/09 | 5,078,292 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 1998 A-1 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
1,300,000 | 0.350 | 03/04/09 | 1,300,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 1998 A-1 (Westdeutsche Landesbank AG SPA) (A-1+/VMIG1) | ||||||||||||||
39,600,000 | 0.600 | 03/04/09 | 39,600,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 1998 A-2 (Bank of Nova Scotia SPA) (A-1+/VMIG1) | ||||||||||||||
3,245,000 | 0.510 | 03/04/09 | 3,245,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 1998 A-2 (JPMorgan Chase Bank SPA) (A-1+/VMIG1) | ||||||||||||||
6,600,000 | 0.530 | 03/04/09 | 6,600,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 1999 Subseries B-3 (JP Morgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
22,500,000 | 0.350 | 03/04/09 | 22,500,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 2001 B (Landesbank Baden-Wurttemberg SPA) (A-1+/VMIG1) | ||||||||||||||
18,300,000 | 0.550 | 03/02/09 | 18,300,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 2001 C (Landesbank Baden-Wurttemberg SPA) (A-1+/VMIG1) | ||||||||||||||
10,000,000 | 0.350 | 03/04/09 | 10,000,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Future Tax Secured Series 2002 Subseries C-2 (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
4,400,000 | 0.550 | 03/02/09 | 4,400,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB ROCS-RR-II R-10344 Series 2009 (Citibank N.A.) (A-1)(a) | ||||||||||||||
6,240,000 | 0.670 | 03/05/09 | 6,240,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Recovery Series 2002-1 Subseries 1A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
18,360,000 | 0.530 | 03/04/09 | 18,360,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Recovery Series 2002-1 Subseries 1D (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
4,900,000 | 0.550 | 03/02/09 | 4,900,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Recovery Series 2002-1 Subseries 1E (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
3,945,000 | 0.600 | 03/04/09 | 3,945,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Recovery Series 2002-3 Subseries 3E (Landesbank Baden-Wurttemberg SPA) (A-1+/VMIG1) | ||||||||||||||
48,930,000 | 0.550 | 03/02/09 | 48,930,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Recovery Series 2002-3 Subseries 3F (Royal Bank of Canada SPA) (A-1+/VMIG1) | ||||||||||||||
7,625,000 | 0.550 | 03/02/09 | 7,625,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Recovery Series 2002-3 Subseries 3G (Bank of New York SPA) (A-1+/VMIG1) | ||||||||||||||
21,570,000 | 0.350 | 03/04/09 | 21,570,000 | |||||||||||
New York City Transitional Finance Authority VRDN RB Series 2001 N-11 Reg. D (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
3,000,000 | 0.670 | 03/05/09 | 3,000,000 | |||||||||||
New York State Dormitory Authority Non-State Supported Debt VRDN RB for Rockefeller University Series 2005 A Convertible (A-1+) | ||||||||||||||
9,625,000 | 0.300 | 03/05/09 | 9,625,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
30
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
New York (continued) | ||||||||||||||
New York State Dormitory Authority Non-State Supported Debt VRDN RB for Rockefeller University Series 2008 A (A-1+/VMIG1) | ||||||||||||||
$ | 3,400,000 | 0.300 | % | 03/05/09 | $ | 3,400,000 | ||||||||
New York State Dormitory Authority Secondary Issues VRDN RB ROCS-RR-II R-10339 Series 2009 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
7,095,000 | 0.670 | 03/05/09 | 7,095,000 | |||||||||||
New York State Dormitory Authority Secondary Issues VRDN RB Eagle Series 2006-0138 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
10,000,000 | 0.680 | 03/05/09 | 10,000,000 | |||||||||||
New York State Dormitory Authority Secondary Issues VRDN RB ROCS-RR-II R-10393 Series 2009 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
15,000,000 | 0.670 | 03/05/09 | 15,000,000 | |||||||||||
New York State Dormitory Authority Secondary Issues VRDN RB ROCS-RR-II R-11722 Series 2009 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
5,235,000 | 0.670 | 03/05/09 | 5,235,000 | |||||||||||
New York State Dormitory Authority Secondary Issues VRDN RB ROCS-RR-II R-12121 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,000,000 | 0.670 | 03/05/09 | 4,000,000 | |||||||||||
New York State Dormitory Authority State Supported Debt VRDN RB for Cornell University Series 2004 B RMKT (HSBC Bank USA N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
3,740,000 | 0.300 | 03/05/09 | 3,740,000 | |||||||||||
New York State Dormitory Authority VRDB RB Putters for Rockefeller University Series 2009-3320 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
13,870,000 | 0.580 | 03/05/09 | 13,870,000 | |||||||||||
New York State Dormitory Authority VRDN RB Vassar College Putters Series 2008-3204 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
4,635,000 | 0.580 | 03/05/09 | 4,635,000 | |||||||||||
New York State Dormitory Authority VRDN RB for Cornell University Series 2000 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
3,055,000 | 0.300 | 03/05/09 | 3,055,000 | |||||||||||
New York State Dormitory Authority VRDN RB for Cornell University Series 2000 B (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
2,300,000 | 0.300 | 03/05/09 | 2,300,000 | |||||||||||
New York State Dormitory Authority VRDN RB for Fordham University ROCS-R-II R-11559 Series 2008 (BHAC) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
2,940,000 | 0.730 | 03/05/09 | 2,940,000 | |||||||||||
New York State Dormitory Authority VRDN RB for Memorial Sloan-Kettering Putters Series 2008-3171 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
20,050,000 | 0.580 | 03/05/09 | 20,050,000 | |||||||||||
New York State Dormitory Authority VRDN RB for Mental Health Services Series 2003 Subseries D 2E (BNP Paribas SPA) (A-1+) | ||||||||||||||
1,855,000 | 0.530 | 03/05/09 | 1,855,000 | |||||||||||
New York State Dormitory Authority VRDN RB for Mental Health Services Series 2003 Subseries D 2G (Bank of Nova Scotia SPA) (A-1+) | ||||||||||||||
2,100,000 | 0.530 | 03/05/09 | 2,100,000 | |||||||||||
New York State Environmental Facilities GO CP Series 1997 A (Bayerische Landesbank, Landesbank Hessen-Thueringen LOC) | ||||||||||||||
9,000,000 | 1.000 | 04/01/09 | 9,000,000 | |||||||||||
New York State Environmental Facilities GO CP Series 1998 A (Bayerische Landesbank, JPMorgan Chase & Co. and Landesbank Hessen-Thuringen LOC) (A-1) | ||||||||||||||
45,700,000 | 1.000 | 04/01/09 | 45,700,000 | |||||||||||
New York State Environmental Municipal Water VRDN RB Putters Series 2008-3269 (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
10,705,000 | 0.580 | 03/05/09 | 10,705,000 | |||||||||||
New York State GO VRDN Environmental Quality Series 1998 G (Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
41,800,000 | 1.500 | 03/05/09 | 41,800,000 | |||||||||||
New York State GO VRDN Series 1993 Subseries A-8 (Westdeutche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
4,000,000 | 0.480 | 03/02/09 | 4,000,000 | |||||||||||
New York State Housing Finance Agency Service Contract VRDN RB Refunding Series 2003 A (Westdeutsche Landesbank AG LOC) (A-1+) | ||||||||||||||
7,300,000 | 0.530 | 03/04/09 | 7,300,000 | |||||||||||
New York State Housing Finance Agency Service Contract VRDN RB Refunding Series 2003 B (BNP Paribas LOC) (A-1+) | ||||||||||||||
5,500,000 | 0.530 | 03/04/09 | 5,500,000 | |||||||||||
New York State Housing Finance Agency Service Contract VRDN RB Refunding Series 2003 E (BNP Paribas LOC) (A-1+) | ||||||||||||||
500,000 | 0.530 | 03/04/09 | 500,000 | |||||||||||
New York State Housing Finance Agency Service Contract VRDN RB Refunding Series 2003 G (Westdeutsche Landesbank AG LOC) (A-1+) | ||||||||||||||
27,500,000 | 0.580 | 03/04/09 | 27,500,000 | |||||||||||
New York State Housing Finance Agency Service Contract VRDN RB Refunding Series 2003 I (Landesbank Hessen-Thueringen LOC) (A-1+) | ||||||||||||||
19,500,000 | 0.580 | 03/04/09 | 19,500,000 | |||||||||||
New York State Housing Finance Agency VRDN RB 100 Maiden Lane Series 2004 A RMKT (FNMA) (VMIG1) | ||||||||||||||
19,000,000 | 0.550 | 03/04/09 | 19,000,000 | |||||||||||
New York State Housing Finance Agency VRDN RB for 20 River Terrace Housing Series 2002 A RMKT (FNMA) (VMIG1) | ||||||||||||||
4,800,000 | 0.480 | 03/04/09 | 4,800,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
31
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
New York (continued) | ||||||||||||||
New York State Housing Finance Agency VRDN RB for Historic Front Street Housing Series 2003 A (Bank of New York LOC) (VMIG1) | ||||||||||||||
$ | 5,000,000 | 0.520 | % | 03/04/09 | $ | 5,000,000 | ||||||||
New York State Housing Finance Agency VRDN RB for North End Series 2004 A RMKT (FNMA) (VMIG1) | ||||||||||||||
31,800,000 | 0.430 | 03/04/09 | 31,800,000 | |||||||||||
New York State Local Government Assistance Corp. VRDN RB Refunding Senior Lien Series 2008 B-CV (Royal Bank of Canada SPA) (A-1+/VMIG1) | ||||||||||||||
5,175,000 | 0.400 | 03/04/09 | 5,175,000 | |||||||||||
New York State Local Government Assistance Corp. VRDN RB Series 1993 A (Bayerische Landesbank and Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
85,500,000 | 0.530 | 03/04/09 | 85,500,000 | |||||||||||
New York State Local Government Assistance Corp. VRDN RB Series 1994 B (Bayerische Landesbank and Westdeutsche Landesbank AG LOC) (A-1+/VMIG1) | ||||||||||||||
8,795,000 | 0.750 | 03/04/09 | 8,795,000 | |||||||||||
New York State Local Government Assistance Corp. VRDN RB Series 1995 C (Landesbank Hessen-Thueringen LOC) (A-1+/VMIG1) | ||||||||||||||
28,300,000 | 0.300 | 03/04/09 | 28,300,000 | |||||||||||
New York State Local Government Assistance Corp. VRDN RB Series 1995 G (Bank of Nova Scotia LOC) (A-1+/VMIG1) | ||||||||||||||
3,900,000 | 0.470 | 03/04/09 | 3,900,000 | |||||||||||
Port Authority of New York & New Jersey VRDN RB Putters Series 2008-3094 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
13,330,000 | 0.580 | 03/05/09 | 13,330,000 | |||||||||||
Tompkins County IDA VRDN RB for Cornell University Civic Facilities Series 2008 A-1 (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
6,100,000 | 0.550 | 03/02/09 | 6,100,000 | |||||||||||
Triborough Bridge & Tunnel Authority Austin Trust Certificates VRDN RB Series 2008-1184 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
1,250,000 | 0.570 | 03/05/09 | 1,250,000 | |||||||||||
Triborough Bridge & Tunnel Authority VRDN RB Putters Series 2008-3063 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
5,000,000 | 0.580 | 03/05/09 | 5,000,000 | |||||||||||
Triborough Bridge & Tunnel Authority VRDN RB Putters Series 2008-3093 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,600,000 | 0.580 | 03/05/09 | 2,600,000 | |||||||||||
Triborough Bridge & Tunnel Authority VRDN RB Refunding Series 2005 Subseries B-3 (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
2,100,000 | 0.620 | 03/05/09 | 2,100,000 | |||||||||||
$ | 1,407,748,826 | |||||||||||||
North Carolina—6.0% | ||||||||||||||
Buncombe County Metropolitan Sewer District Systems VRDN RB Refunding Series 2008 B (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
22,065,000 | 0.650 | 03/05/09 | 22,065,000 | |||||||||||
Charlotte Douglas International Airport VRDN RB Refunding Series 2008 D (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
4,700,000 | 0.650 | 03/04/09 | 4,700,000 | |||||||||||
Charlotte Douglas International Airport VRDN RB Series 2007 B (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
9,075,000 | 0.649 | 03/04/09 | 9,075,000 | |||||||||||
Charlotte VRDN COPS Transit Projects Series 2004 B (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
12,990,000 | 0.750 | 03/04/09 | 12,990,000 | |||||||||||
Charlotte Water & Sewer Systems VRDN RB Refunding Series 2002 C (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
12,000,000 | 0.650 | 03/05/09 | 12,000,000 | |||||||||||
Charlotte-Mecklenburg Hospital Authority Health Care Systems VRDN RB Refunding for Carolinas Healthcare Series 2005 C (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
4,060,000 | 0.550 | 03/02/09 | 4,060,000 | |||||||||||
Charlotte-Mecklenburg Hospital Authority Health Care Systems VRDN RB Refunding for Carolinas Healthcare Series 2005 D (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
2,930,000 | 0.550 | 03/02/09 | 2,930,000 | |||||||||||
East Carolina University VRDN RB Series 2004 (Wachovia Bank N.A. SPA) (VMIG1) | ||||||||||||||
8,000,000 | 0.610 | 03/05/09 | 8,000,000 | |||||||||||
Forsyth County School District GO VRDN Series 2007 B (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
7,300,000 | 0.570 | 03/05/09 | 7,300,000 | |||||||||||
Greensboro Enterprise System VRDN RB Series 2005 B (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
6,935,000 | 0.650 | 03/05/09 | 6,935,000 | |||||||||||
Greensboro GO VRDN Public Improvement Series 2008 B (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
7,450,000 | 0.650 | 03/05/09 | 7,450,000 | |||||||||||
Guilford County GO VRDN Series 2004 (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
12,250,000 | 0.600 | 03/04/09 | 12,250,000 | |||||||||||
Guilford County GO VRDN Series 2004 C (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
22,150,000 | 0.600 | 03/04/09 | 22,150,000 | |||||||||||
Mecklenburg County GO Bonds Refunding Series 2004 C (AAA/Aaa) | ||||||||||||||
2,700,000 | 5.000 | 03/01/09 | 2,700,229 | |||||||||||
Mecklenburg County GO VRDN Series 1996 C (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
9,110,000 | 0.600 | 03/05/09 | 9,110,000 | |||||||||||
Mecklenburg County GO VRDN Series 2003 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
8,105,000 | 0.650 | 03/04/09 | 8,105,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
32
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
North Carolina (continued) | ||||||||||||||
Mecklenburg County GO VRDN Series 2004 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
$ | 6,465,000 | 0.580 | % | 03/05/09 | $ | 6,465,000 | ||||||||
Mecklenburg County GO VRDN Series 2006 A (VMIG1) | ||||||||||||||
11,000,000 | 2.000 | 11/05/09 | 11,074,004 | |||||||||||
Mecklenburg County GO VRDN for Public Improvement Series 2000 C (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
4,300,000 | 0.610 | 03/04/09 | 4,300,000 | |||||||||||
Mecklenburg County VRDN COPS Series 2001 (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
8,130,000 | 0.660 | 03/05/09 | 8,130,000 | |||||||||||
North Carolina Capital Facilities Finance Agency GO VRDN for Wake Forest University Series 2004 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
1,700,000 | 0.600 | 03/05/09 | 1,700,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Duke University Eagle Series 2005-0060 Class A (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
15,600,000 | 0.690 | 03/05/09 | 15,600,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Duke University Eagle Series 2006-0012 A (Citibank N.A SPA)(a) | ||||||||||||||
14,365,000 | 0.690 | 03/05/09 | 14,365,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Duke University Eagle Series 2007-0015 A (Landesbank Hessen-Thueringen SPA) (A-1)(a) | ||||||||||||||
10,890,000 | 0.720 | 03/05/09 | 10,890,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Duke University Eagle Series 2007-0016 Class A (Landesbank Hessen-Thueringen SPA) (A-1)(a) | ||||||||||||||
13,110,000 | 0.720 | 03/05/09 | 13,110,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Duke University Putters Series 2008-3248 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
5,835,000 | 0.600 | 03/05/09 | 5,835,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Duke University Putters Series 2009-3333 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
8,300,000 | 0.600 | 03/05/09 | 8,300,000 | |||||||||||
North Carolina Capital Facilities Finance Agency VRDN RB for Wake Forest University Series 2004 B (A-1+/VMIG1) | ||||||||||||||
8,900,000 | 0.560 | 03/05/09 | 8,900,000 | |||||||||||
North Carolina Duke University CP Series 2008 A1-A2 | ||||||||||||||
2,500,000 | 0.650 | 03/23/09 | 2,500,000 | |||||||||||
North Carolina Duke University CP Series 2009 A1-A2 | ||||||||||||||
7,000,000 | 0.350 | 03/02/09 | 7,000,000 | |||||||||||
North Carolina Medical Care Commission Health Care Facilities VRDN RB for Catholic Health East Series 2008 (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
9,500,000 | 0.600 | 03/04/09 | 9,500,000 | |||||||||||
North Carolina Medical Care Commission Health Care Facilities VRDN RB for Novant Health Group Series 2004 A (JPMorgan Chase & Co. SPA) (A-1/VMIG1) | ||||||||||||||
6,500,000 | 0.530 | 03/04/09 | 6,500,000 | |||||||||||
North Carolina Medical Care Commission Health Care Facilities VRDN RB for Novant Health Group Series 2004 B (JPMorgan Chase & Co. SPA) (A-1/VMIG1) | ||||||||||||||
3,285,000 | 0.850 | 03/04/09 | 3,285,000 | |||||||||||
North Carolina Medical Care Commission Hospital VRDN RB for Caremont Health Series 2003 Subseries A (MBIA) (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
2,500,000 | 0.700 | 03/04/09 | 2,500,000 | |||||||||||
North Carolina Medical Care Commission VRDN RB Refunding for Baptist Hospital Series 2009 A (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
35,000,000 | 0.700 | 03/05/09 | 35,000,000 | |||||||||||
North Carolina State GO Bonds Highway Series 2004 (AAA/Aaa) | ||||||||||||||
8,000,000 | 5.000 | 05/01/09 | 8,042,689 | |||||||||||
North Carolina State GO VRDN Putters Series 2008-2768 (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
7,055,000 | 0.600 | 03/05/09 | 7,055,000 | |||||||||||
North Carolina State GO VRDN Refunding Series 2002 C (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
7,680,000 | 0.620 | 03/04/09 | 7,680,000 | |||||||||||
North Carolina State GO VRDN Refunding Series 2002 D (Landesbank Baden-Wurttemberg SPA) (A-1+/VMIG1) | ||||||||||||||
16,100,000 | 0.530 | 03/04/09 | 16,100,000 | |||||||||||
North Carolina State GO VRDN Refunding Series 2002 E (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
23,060,000 | 0.550 | 03/04/09 | 23,060,000 | |||||||||||
North Carolina State GO VRDN for Public Improvement Series 2002 D (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
37,415,000 | 0.650 | 03/04/09 | 37,415,000 | |||||||||||
North Carolina State GO VRDN for Public Improvement Series 2002 E (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
45,135,000 | 0.380 | 03/04/09 | 45,135,000 | |||||||||||
North Carolina State GO VRDN for Public Improvement Series 2002 G (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
6,980,000 | 0.450 | 03/04/09 | 6,980,000 | |||||||||||
North Carolina State University Raleigh VRDN RB Series 2003 B (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
1,300,000 | 0.530 | 03/04/09 | 1,300,000 | |||||||||||
Raleigh Comb Enterprise System VRDN RB Eagle Series 2007-0010 A (Landesbank Hessen-Thueringen SPA) (A-1)(a) | ||||||||||||||
4,950,000 | 0.720 | 03/05/09 | 4,950,000 | |||||||||||
Raleigh Comb Enterprise System VRDN RB Series 2008 A (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.580 | 03/04/09 | 5,000,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
33
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
North Carolina (continued) | ||||||||||||||
Raleigh VRDN COPS for Downtown Improvement Project Series 2004 A (A-1+/VMIG1) | ||||||||||||||
$ | 13,200,000 | 2.500 | % | 01/20/10 | $ | 13,413,911 | ||||||||
Raleigh VRDN COPS for Downtown Improvement Project Series 2005 B-1 RMKT (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
13,000,000 | 0.580 | 03/04/09 | 13,000,000 | |||||||||||
Raleigh VRDN RB ROCS-RR-II R-645 Series 2006 (Citibank N.A. SPA) (F1+)(a) | ||||||||||||||
6,525,000 | 0.680 | 03/05/09 | 6,525,000 | |||||||||||
University of North Carolina CP Series 2008 A (A-1) | ||||||||||||||
7,000,000 | 1.000 | 03/02/09 | 7,000,000 | |||||||||||
University of North Carolina CP Series 2009 A | ||||||||||||||
18,000,000 | 0.600 | 09/09/09 | 18,000,000 | |||||||||||
University of North Carolina Hospital Chapel Hill VRDN RB Refunding Series 2003 A (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
8,325,000 | 0.650 | 03/05/09 | 8,325,000 | |||||||||||
University of North Carolina VRDN RB Eagle Series 2006-0024 Class A (Landesbank Hessen-Thueringen SPA) (A-1)(a) | ||||||||||||||
19,800,000 | 0.690 | 03/05/09 | 19,800,000 | |||||||||||
University of North Carolina VRDN RB Eagle Tax-Exempt Trust Series 2005-3014 Class A (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
10,345,000 | 0.690 | 03/05/09 | 10,345,000 | |||||||||||
University of North Carolina VRDN RB ROCS-RR-II R-11292 for Chapel Hill Hospital Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,080,000 | 0.680 | 03/05/09 | 3,080,000 | |||||||||||
University of North Carolina VRDN RB Series 2001 B (A-1+/VMIG1) | ||||||||||||||
8,150,000 | 0.350 | 03/04/09 | 8,150,000 | |||||||||||
University of North Carolina VRDN RB Series 2001 C (A-1+/VMIG1) | ||||||||||||||
910,000 | 0.350 | 03/04/09 | 910,000 | |||||||||||
Wake County GO BANS Series 2008 (SP-1+/MIG1) | ||||||||||||||
11,000,000 | 3.500 | 03/05/09 | 11,121,613 | |||||||||||
Wake County GO Bonds Refunding Series 2003 A (AAA/Aaa) | ||||||||||||||
5,000,000 | 5.000 | 02/01/10 | 5,203,393 | |||||||||||
Wake County GO VRDN School Series 2007 B (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
17,400,000 | 0.600 | 03/05/09 | 17,400,000 | |||||||||||
Wake County GO VRDN Series 2004 A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1)(a) | ||||||||||||||
1,000,000 | 0.550 | 03/05/09 | 1,000,000 | |||||||||||
Wake County GO VRDN for Public Improvement Series 2003 C (Lloyds TSB Bank PLC SPA) (A-1+/VMIG1) | ||||||||||||||
8,150,000 | 0.600 | 03/05/09 | 8,150,000 | |||||||||||
Wilmington VRDN RB Refunding Series 2002 (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
9,490,000 | 0.610 | 03/04/09 | 9,490,000 | |||||||||||
$ | 650,405,839 | |||||||||||||
Ohio—2.6% | ||||||||||||||
Cleveland Clinic CP Series 2008 (A-1) | ||||||||||||||
20,000,000 | 1.050 | 03/02/09 | 20,000,000 | |||||||||||
Cleveland Clinic VRDN RB Floater Certificates Series 2008-59C (Wells Fargo & Co. SPA) (VMIG1)(b) | ||||||||||||||
17,000,000 | 1.000 | 07/23/09 | 17,000,000 | |||||||||||
Cleveland Waterworks VRDN RB Series 2008 Q (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
7,000,000 | 0.650 | 03/05/09 | 7,000,000 | |||||||||||
Columbus GO VRDN Putters Series 2007-2365 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
4,360,000 | 0.600 | 03/05/09 | 4,360,000 | |||||||||||
Columbus GO VRDN ROCS-RR-II R-11293 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,460,000 | 0.680 | 03/05/09 | 4,460,000 | |||||||||||
Columbus GO VRDN Sanitation Sewer System Series 2006-1 (A-1+/VMIG1) | ||||||||||||||
16,750,000 | 0.350 | 03/05/09 | 16,750,000 | |||||||||||
Columbus Sewer VRDN RB Putters Series 2008-2456 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
3,005,000 | 0.600 | 03/05/09 | 3,005,000 | |||||||||||
Franklin County Hospital VRDN RB for Nationwide Children’s Hospital Project Series 2008 E (JPMorgan Chase & Co. SPA) (VMIG1) | ||||||||||||||
16,265,000 | 0.530 | 03/05/09 | 16,265,000 | |||||||||||
Lucas County Hospital VRDN RB for Promedica Healthcare Series 2008 B (UBS AG LOC) (A-1/VMIG1) | ||||||||||||||
4,000,000 | 0.720 | 03/04/09 | 4,000,000 | |||||||||||
Montgomery County VRDN RB Catholic Health Series 2004 B2 (Bayrische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
1,785,000 | 0.450 | 03/04/09 | 1,785,000 | |||||||||||
Montgomery County VRDN RB for Catholic Health Series 2006 B-1 (A-1+/VMIG1) | ||||||||||||||
15,325,000 | 0.300 | 03/04/09 | 15,325,000 | |||||||||||
Montgomery County VRDN RB for Catholic Healthcare Initiative Series 2006 B-2 (A-1+/VMIG1) | ||||||||||||||
21,375,000 | 0.560 | 03/04/09 | 21,375,000 | |||||||||||
Ohio State GO Bonds Series 2007 A (AA+/Aa1) | ||||||||||||||
4,500,000 | 5.000 | 06/15/09 | 4,543,917 | |||||||||||
Ohio State GO VRDN Common Schools Series 2005 A (A-1+/VMIG1) | ||||||||||||||
18,800,000 | 0.350 | 03/04/09 | 18,800,000 | |||||||||||
Ohio State GO VRDN Common Schools Series 2005 B (A-1+/VMIG1) | ||||||||||||||
4,400,000 | 0.350 | 03/04/09 | 4,400,000 | |||||||||||
Ohio State GO VRDN Common Schools Series 2006 C (A-1+/VMIG1) | ||||||||||||||
5,860,000 | 0.550 | 03/04/09 | 5,860,000 | |||||||||||
Ohio State GO VRDN Refunding for Infrastructure Improvement Series 2003 B (A-1+/VMIG1) | ||||||||||||||
20,900,000 | 0.400 | 03/04/09 | 20,900,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
34
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Ohio (continued) | ||||||||||||||
Ohio State GO VRDN Refunding for Infrastructure Improvement Series 2003 D (A-1+/VMIG1) | ||||||||||||||
$ | 6,900,000 | 0.400 | % | 03/04/09 | $ | 6,900,000 | ||||||||
Ohio State GO VRDN for Infrastructure Improvement Series 2001 B (A-1+/VMIG1) | ||||||||||||||
25,200,000 | 0.350 | 03/04/09 | 25,200,000 | |||||||||||
Ohio State Higher Educational Facility VRDN RB for Oberlin College Project Series 2005 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
5,350,000 | 0.400 | 03/04/09 | 5,350,000 | |||||||||||
Ohio State University General Receipts RB Series 2005 A (AA/Aa2) | ||||||||||||||
5,420,000 | 5.000 | 06/01/09 | 5,462,729 | |||||||||||
Ohio State University General Receipts VRDN RB Series 1999 B (A-1+/VMIG1) | ||||||||||||||
3,200,000 | 0.400 | 03/04/09 | 3,200,000 | |||||||||||
Ohio State University General Receipts VRDN RB Series 2001 (A-1+/VMIG1) | ||||||||||||||
18,000,000 | 0.350 | 03/06/09 | 18,000,000 | |||||||||||
Ohio State University General Receipts VRDN RB Series 2005 B (A-1+/VMIG1) | ||||||||||||||
27,000,000 | 0.350 | 03/04/09 | 27,000,000 | |||||||||||
$ | 276,941,646 | |||||||||||||
Oregon—1.4% | ||||||||||||||
Clackamas County Oregon Providence Health Services CP Series 2008 (A-1) | ||||||||||||||
8,500,000 | 1.200 | 03/02/09 | 8,500,000 | |||||||||||
9,000,000 | 2.050 | 03/02/09 | 9,000,000 | |||||||||||
22,000,000 | 0.800 | 03/11/09 | 22,000,000 | |||||||||||
17,500,000 | 0.800 | 04/02/09 | 17,500,000 | |||||||||||
Clackamas County Oregon Providence Health Services CP Series 2009 | ||||||||||||||
9,000,000 | 0.350 | 04/07/09 | 9,000,000 | |||||||||||
Oregon State GO VRDN Series 1985 73-E (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
7,100,000 | 0.350 | 03/04/09 | 7,100,000 | |||||||||||
Oregon State GO VRDN Series 1985 73-F (Bayerische Landesbank SPA) (VMIG1) | ||||||||||||||
41,400,000 | 0.350 | 03/04/09 | 41,400,000 | |||||||||||
Oregon State GO VRDN Welfare Series 1985 73-H (Bayerische Landesbank SPA) (A-1+/VMIG1) | ||||||||||||||
26,900,000 | 0.480 | 03/04/09 | 26,900,000 | |||||||||||
Umatilla County Hospital Facility Authority VRDN RB Catholic Health Series 1997 B (Bayerische Landesbank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
6,900,000 | 0.660 | 03/04/09 | 6,900,000 | |||||||||||
$ | 148,300,000 | |||||||||||||
Pennsylvania—2.4% | ||||||||||||||
Allegheny County Port Authority RB Special Transportation Series 1999 (AAA/Aa3) | ||||||||||||||
1,200,000 | 6.000 | 03/02/09 | 1,212,000 | |||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Putters Series 2008-3011 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
8,645,000 | 0.580 | 03/05/09 | 8,645,000 | |||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Series 1985 B (Bayerische Landesbank LOC) (A-1/VMIG1) | ||||||||||||||
600,000 | 0.620 | 03/04/09 | 600,000 | |||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Series 1985 C (Bayerische Landesbank LOC) (A-1/VMIG1) | ||||||||||||||
6,800,000 | 0.620 | 03/04/09 | 6,800,000 | |||||||||||
Delaware Valley Regional Finance Authority Local Government VRDN RB Series 1986 Mode 1 (Bayerische Landesbank LOC) (A-1/VMIG1) | ||||||||||||||
6,850,000 | 0.620 | 03/04/09 | 6,850,000 | |||||||||||
Lehigh County General Purpose Authority VRDN RB for Muhlenberg College Series 2008 (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
6,280,000 | 0.600 | 03/05/09 | 6,280,000 | |||||||||||
Pennsylvania Higher Educational Facilities Authority VRDN RB for Thomas Jefferson University Series 2008 B (JPMorgan Chase & Co. LOC) (VMIG1) | ||||||||||||||
26,510,000 | 0.530 | 03/05/09 | 26,510,000 | |||||||||||
Pennsylvania State GO Bonds First Series 2008 (AA/Aa2) | ||||||||||||||
9,665,000 | 5.000 | 05/15/09 | 9,728,848 | |||||||||||
Pennsylvania State GO VRDN Putters Series 2008-3150 (JPMorgan Chase Bank & Co. SPA) (A-1+)(a) | ||||||||||||||
945,000 | 0.580 | 03/05/09 | 945,000 | |||||||||||
Pennsylvania State GO VRDN ROCS-RR-II R-11056 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
3,700,000 | 0.680 | 03/05/09 | 3,700,000 | |||||||||||
Pennsylvania State Higher Educational Facilities Authority VRDN RB for Thomas Jefferson University Series 2008 A (JPMorgan Chase & Co. LOC) (VMIG1) | ||||||||||||||
17,900,000 | 0.530 | 03/05/09 | 17,900,000 | |||||||||||
Pennsylvania State Turnpike Commission VRDN RB Multi-Modal Series 2008 C (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
16,000,000 | 0.600 | 03/05/09 | 16,000,000 | |||||||||||
Pennsylvania State University VRDN RB Series 2002 A (Westdeutsche Landesbank AG SPA) (A-1+/VMIG1) | ||||||||||||||
30,930,000 | 0.450 | 03/05/09 | 30,930,000 | |||||||||||
Philadelphia GO TRANS Series 2008 A (SP-1+/MIG1) | ||||||||||||||
103,500,000 | 3.500 | 06/30/09 | 104,010,751 | |||||||||||
Philadelphia Hospitals & Higher Education Facilities Authority VRDN RB for Children’s Hospital Project Series 2008 B (Wachovia Bank N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
1,600,000 | 0.500 | 03/02/09 | 1,600,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
35
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Pennsylvania (continued) | ||||||||||||||
Philadelphia Water & Wastewater Systems VRDN RB Series 1997 B RMKT (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
$ | 5,000,000 | 0.620 | % | 03/04/09 | $ | 5,000,000 | ||||||||
St. Mary’s Hospital Authority Bucks County VRDN RB for Catholic Healthcare Series 2004 B (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
7,000,000 | 0.350 | 03/04/09 | 7,000,000 | |||||||||||
St. Mary’s Hospital Authority Bucks County VRDN RB for Catholic Healthcare Series 2004 C (A-1+/VMIG1) | ||||||||||||||
3,950,000 | 0.300 | 03/04/09 | 3,950,000 | |||||||||||
$ | 257,661,599 | |||||||||||||
Rhode Island—0.8% | ||||||||||||||
Rhode Island Health & Education Building Corp. Higher Educational Facilities VRDN RB for Brown University Series 2001 B (A-1+/VMIG1) | ||||||||||||||
11,865,000 | 0.400 | 03/05/09 | 11,865,000 | |||||||||||
Rhode Island Health & Education Building Corp. Higher Educational Facilities VRDN RB for Brown University Series 2003 B (A-1+/VMIG1) | ||||||||||||||
2,050,000 | 0.350 | 03/05/09 | 2,050,000 | |||||||||||
Rhode Island State & Providence Plantations GO TANS Series 2008 (SP-1+) | ||||||||||||||
73,793,000 | 3.500 | 06/30/09 | 74,118,673 | |||||||||||
$ | 88,033,673 | |||||||||||||
South Carolina—0.2% | ||||||||||||||
Charleston Waterworks & Sewer VRDN RB Refunding System Series 2007 (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
6,000,000 | 0.650 | 03/05/09 | 6,000,000 | |||||||||||
Greenville Hospital System Facilities VRDN RB Refunding Series 2008 C (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
6,195,000 | 0.650 | 03/05/09 | 6,195,000 | |||||||||||
Richland County School District No. 001 GO Bonds Series 2007 B (AA/Aa1) | ||||||||||||||
1,685,000 | 4.000 | 03/01/09 | 1,685,086 | |||||||||||
South Carolina State GO VRDN ROCS-RR-II R-692WF Series 2006 (Wells Fargo Bank SPA) (VMIG1)(a) | ||||||||||||||
1,830,000 | 0.720 | 03/05/09 | 1,830,000 | |||||||||||
South Carolina Transportation Infrastructure Bank VRDN RB Refunding Series 2003 B1 RMKT (Bank of America N.A. LOC) (VMIG1) | ||||||||||||||
5,985,000 | 0.650 | 03/04/09 | 5,985,000 | |||||||||||
$ | 21,695,086 | |||||||||||||
Tennessee—4.5% | ||||||||||||||
Chattanooga Health Educational & Housing Facilities Board VRDN RB Catholic Health Series 2004 C (A-1+/VMIG1) | ||||||||||||||
24,150,000 | 0.300 | 03/04/09 | 24,150,000 | |||||||||||
City of Memphis GO CP Series 2001 (Westdeutsche Landesbank AG SPA) (A-1) | ||||||||||||||
9,000,000 | 0.600 | 03/12/09 | 9,000,000 | |||||||||||
68,000,000 | 0.650 | 03/12/09 | 68,000,000 | |||||||||||
17,500,000 | 1.200 | 03/12/09 | 17,500,000 | |||||||||||
18,000,000 | 0.750 | 03/20/09 | 18,000,000 | |||||||||||
Franklin Special School District GO Bonds Series 1999 (FSA) (AAA/Aa2) | ||||||||||||||
1,000,000 | 5.375 | 06/01/09 | 1,009,256 | |||||||||||
Metropolitan Government Nashville & Davidson County GO Bonds Refunding Series 2005 B (AA/Aa2) | ||||||||||||||
4,425,000 | 5.000 | 01/01/10 | 4,588,909 | |||||||||||
Metropolitan Government Nashville & Davidson County Health & Education Facilities Board VRDN RB Refunding for Vanderbilt University Series 2000 B (A-1+/VMIG1) | ||||||||||||||
29,570,000 | 0.350 | 03/05/09 | 29,570,000 | |||||||||||
Metropolitan Government Nashville & Davidson County Health & Education Facilities Board VRDN RB Refunding for Vanderbilt University Series 2003 A (A-1+/VMIG1) | ||||||||||||||
27,485,000 | 0.350 | 03/05/09 | 27,485,000 | |||||||||||
Shelby County Health Educational & Housing Facilities Board VRDN RB for Baptist Memorial Healthcare Series 2004 A (AA) | ||||||||||||||
158,600,000 | 2.500 | 04/02/09 | 158,600,000 | |||||||||||
Shelby County Health Educational & Housing Facilities Board VRDN RB for St. Jude Children’s Hospital Putters Series 2008-2915Z (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
3,630,000 | 0.600 | 03/05/09 | 3,630,000 | |||||||||||
Tennessee State GO CP Series 2009 A (Tennessee Consolidated Retirement System SPA) | ||||||||||||||
22,000,000 | 0.400 | 03/02/09 | 22,000,000 | |||||||||||
17,210,000 | 0.600 | 04/06/09 | 17,210,000 | |||||||||||
38,000,000 | 0.550 | 06/11/09 | 38,000,000 | |||||||||||
Vanderbilt University CP Series 2005 B-1 (MBIA) | ||||||||||||||
29,000,000 | 1.000 | 05/18/09 | 29,000,000 | |||||||||||
Vanderbilt University CP Series 2009 A | ||||||||||||||
17,000,000 | 0.550 | 04/13/09 | 17,000,000 | |||||||||||
$ | 484,743,165 | |||||||||||||
Texas—17.0% | ||||||||||||||
Aldine ISD GO VRDN Putters Series 2008-3234 (PSF-GTD) (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
7,620,000 | 0.670 | 03/05/09 | 7,620,000 | |||||||||||
Austin GO Bonds for Public Improvement Series 1999 (AAA/Aa1) | ||||||||||||||
10,350,000 | 5.375 | 09/01/09 | 10,512,692 | |||||||||||
Cypress-Fairbanks ISD GO VRDN Putters Series 2006-1308 (PSF-GTD) (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
6,495,000 | 0.670 | 03/05/09 | 6,495,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
36
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Texas (continued) | ||||||||||||||
Dallas Area Rapid Transit Sales Tax VRDN RB ROCS-RR-II R-11716 Series 2009 (Citibank N.A.) (A-1+)(a) | ||||||||||||||
$ | 6,785,000 | 0.680 | % | 03/05/09 | $ | 6,785,000 | ||||||||
Denton ISD GO VRDN Putters Series 2008-2603 (PSF-GTD) (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,700,000 | 0.670 | 03/05/09 | 3,700,000 | |||||||||||
Denton ISD GO VRDN Putters Series 2008-2765 (PSF-GTD) (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
2,015,000 | 0.670 | 03/05/09 | 2,015,000 | |||||||||||
Denton ISD GO VRDN for School Building Series 2006 B (PSF-GTD) (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
5,495,000 | 0.630 | 03/05/09 | 5,495,000 | |||||||||||
EL Paso Water & Sewer Systems CP Series 2009 (JPMorgan Chase & Co. SPA) | ||||||||||||||
9,000,000 | 0.800 | 03/10/09 | 9,000,000 | |||||||||||
Eagle Mountain and Saginaw ISD GO VRDN Floater Certificates Series 2008 53C (PSF-GTD) (Wells Fargo & Co. SPA) (F1+)(b) | ||||||||||||||
24,000,000 | 1.000 | 07/23/09 | 24,000,000 | |||||||||||
Frisco ISD GO VRDN Floater Series 2008-19C 144A (PSF-GTD) (Wells Fargo & Co. SPA) (F1+)(b) | ||||||||||||||
14,555,000 | 1.000 | 03/05/09 | 14,555,000 | |||||||||||
Garland CP Series 2009 (Bank of America N.A. SPA) | ||||||||||||||
9,000,000 | 0.700 | 07/07/09 | 9,000,000 | |||||||||||
Grand Prairie ISD Eclipse Funding Trust GO VRDN Series 2007-0067 (PSF-GTD) (U.S. Bank N.A. SPA) (A-1+)(a) | ||||||||||||||
10,217,500 | 0.570 | 03/05/09 | 10,217,500 | |||||||||||
Harris County Cultural Educational Facilities Finance Corp. VRDN RB for Methodist Hospital Series 2008 Subseries C-1 (A-1+) | ||||||||||||||
15,060,000 | 0.500 | 03/02/09 | 15,060,000 | |||||||||||
Harris County Flood Control District GO VRDN ROCS-RR-II R-11313 Series 2008 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
5,185,000 | 0.680 | 03/05/09 | 5,185,000 | |||||||||||
Harris County GO VRDN ROCS-RR-II R-10360 Series 2009 (Citibank N.A.) (A-1)(a) | ||||||||||||||
13,255,000 | 0.680 | 03/05/09 | 13,255,000 | |||||||||||
Harris County Health Facilities Development Corp. VRDN RB for St. Luke’s Episcopal Hospital Series 2001 B (Bank of America N.A., Bayerische Landesbank, JPMorgan Chase & Co., and Northern Trust SPA) (A-1+) | ||||||||||||||
215,230,000 | 0.600 | 03/02/09 | 215,230,000 | |||||||||||
Harris County Health Facilities Development Corp. VRDN RB for Texas Childrens Hospital Series 2008-2 (Bank of America and JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
2,400,000 | 0.650 | 03/02/09 | 2,400,000 | |||||||||||
Harris County Metropolitan Transit Authority CP Series 2009 A (Compass Bank and JPMorgan Chase & Co. SPA) | ||||||||||||||
44,000,000 | 0.500 | 03/02/09 | 44,000,000 | |||||||||||
Houston GO CP Series 2009 E-1 (Banco Bilbao Vizcaya SPA) | ||||||||||||||
31,000,000 | 0.600 | 04/01/09 | 31,000,000 | |||||||||||
4,400,000 | 0.650 | 04/01/09 | 4,400,000 | |||||||||||
Houston Higher Education Finance Corp. VRDN RB for Rice University Floaters Series 2007-2042 (Wells Fargo Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
15,560,000 | 1.000 | 03/05/09 | 15,560,000 | |||||||||||
Houston Higher Education Finance Corp. VRDN RB for Rice University Project Series 2008 A (A-1+/VMIG1) | ||||||||||||||
23,500,000 | 0.400 | 03/02/09 | 23,500,000 | |||||||||||
Houston Higher Education Finance Corp. VRDN RB for Rice University ROCS-RR-II R-11066 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
4,585,000 | 0.680 | 03/05/09 | 4,585,000 | |||||||||||
Houston ISD GO VRDN ROCS-RR-II R-11394 Series 2008 (PSF-GTD) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
7,500,000 | 0.660 | 03/05/09 | 7,500,000 | |||||||||||
Houston Utilities System VRDN RB Series 2008 A-2 (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
6,200,000 | 0.650 | 03/05/09 | 6,200,000 | |||||||||||
Irving ISD Puttable Floating Options Tax-Exempts Receipts GO VRDN P-Floats-PT-3954 Series 2007 (PSF-GTD) (Wells Fargo Bank SPA) (F1+)(a) | ||||||||||||||
8,900,000 | 0.620 | 03/05/09 | 8,900,000 | |||||||||||
Judson ISD GO VRDN Floaters Series 2007-1859 (PSF-GTD) (Wells Fargo Bank N.A. SPA) (VMIG1)(a) | ||||||||||||||
3,950,000 | 0.620 | 03/05/09 | 3,950,000 | |||||||||||
Keller ISD GO VRDN Putters Series 2008-2616 (PSF-GTD) (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,670,000 | 0.670 | 03/05/09 | 2,670,000 | |||||||||||
La Vernia ISD Eclipse Funding Trust GO VRDN Series 2007-0081 (PSF-GTD) (U.S. Bank N.A. SPA) (A-1+)(a) | ||||||||||||||
10,020,000 | 0.520 | 03/05/09 | 10,020,000 | |||||||||||
Lower Colorado River Authority Transportation Contract CP Series 2009 (JPMorgan Chase & Co. SPA) | ||||||||||||||
24,600,000 | 0.550 | 05/18/09 | 24,600,000 | |||||||||||
Lower Neches Valley Authority State Exempt Facilities VRDN RB for ExxonMobil Corp. Series 2008 Subseries A-3 (VMIG1) | ||||||||||||||
1,000,000 | 0.350 | 03/02/09 | 1,000,000 | |||||||||||
Lubbock Health Facilities Development Corp. VRDN RB Refunding for St. Joseph Health Systems Series 2008 A (A-1+/VMIG1) | ||||||||||||||
16,585,000 | 0.450 | 03/05/09 | 16,585,000 | |||||||||||
North East ISD Eclipse Funding Trust GO VRDN Solar Eclipse Series 2007-0101 (PSF-GTD) (U.S. Bank N.A. SPA) (A-1+)(a) | ||||||||||||||
4,180,000 | 0.520 | 03/05/09 | 4,180,000 | |||||||||||
North East ISD GO VRDN Eagle Series 2007-0123 A (PSF-GTD) (Banco Bilbao Vizcaya Argentaria SPA) (A-1)(a) | ||||||||||||||
8,935,000 | 0.670 | 03/05/09 | 8,935,000 | |||||||||||
North Texas Municipal Water District Austin Trust Certificates VRDN RB Series 2008-1174 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
2,140,000 | 0.620 | 03/05/09 | 2,140,000 | |||||||||||
Red River Education Finance VRDN RB for Higher Education Christian University Series 2006 (VMIG1) | ||||||||||||||
14,500,000 | 0.650 | 03/04/09 | 14,500,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
37
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Texas (continued) | ||||||||||||||
Rice University CP Series 2008 (A-1) | ||||||||||||||
$ | 9,000,000 | 0.900 | % | 03/02/09 | $ | 9,000,000 | ||||||||
8,800,000 | 0.800 | 03/03/09 | 8,800,000 | |||||||||||
San Antonio Electric & Gas Systems VRDN RB Putters Series 2008-2957 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
8,215,000 | 0.600 | 03/05/09 | 8,215,000 | |||||||||||
San Antonio Electric & Gas Systems VRDN RB Putters Series 2009-3291 (JPMorgan Chase & Co.) (VMIG1)(a) | ||||||||||||||
3,400,000 | 0.600 | 03/05/09 | 3,400,000 | |||||||||||
San Antonio Electric & Gas Systems VRDN RB ROCS-RR-II R-11277 Series 2007 (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
5,100,000 | 0.680 | 03/05/09 | 5,100,000 | |||||||||||
San Antonio Electric & Gas Systems VRDN RB Systems Junior Lien Series 2003 (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
26,450,000 | 0.600 | 03/04/09 | 26,450,000 | |||||||||||
San Antonio IDA GO VRDN ROCS-RR-II R-10333 Series 2009 (PSF-GTD) (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,900,000 | 0.680 | 03/05/09 | 3,900,000 | |||||||||||
San Antonio Water Systems RB Refunding Series 2009 (AA/Aa2) | ||||||||||||||
3,865,000 | 3.000 | 05/15/09 | 3,885,291 | |||||||||||
Tarrant County Cultural Education Facilities Finance Corp. VRDN RB Health Resources Series 2008 A (Texas Health Resources SPA) (A-1+/VMIG1) | ||||||||||||||
6,500,000 | 0.400 | 03/04/09 | 6,500,000 | |||||||||||
Tarrant County Cultural Education Facilities Finance Corp. VRDN RB Refunding Christus Health Series 2008 C-5 (Compass Bank LOC) (VMIG1) | ||||||||||||||
13,500,000 | 0.750 | 03/04/09 | 13,500,000 | |||||||||||
Tarrant County Cultural Education Facilities Finance Corp. VRDN RB Refunding for Scott and White Memorial Hospital Series 2008 A (Bank of America N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
23,500,000 | 0.550 | 03/05/09 | 23,500,000 | |||||||||||
Texas Municipal Power Authority CP Series 2005 (Bayerische Landesbank and Bank of America N.A. LOC) (A-1) | ||||||||||||||
66,000,000 | 0.350 | 03/02/09 | 66,000,000 | |||||||||||
91,650,000 | 0.650 | 03/04/09 | 91,650,000 | |||||||||||
21,200,000 | 0.500 | 04/07/09 | 21,200,000 | |||||||||||
Texas Municipal Power CP Series 2005 (Bayerische Landesbank and Bank of America N.A. LOC) (A-1) | ||||||||||||||
6,395,000 | 0.500 | 04/01/09 | 6,395,000 | |||||||||||
Texas State GO Bonds Refunding for Public Finance Authority Series 2008 A (AA/Aa1) | ||||||||||||||
4,400,000 | 5.000 | 10/01/09 | 4,505,050 | |||||||||||
Texas State GO Refunding for Public Finance Authority Series 2008 (AA/Aa1) | ||||||||||||||
4,400,000 | 5.000 | 10/01/09 | 4,507,660 | |||||||||||
Texas State GO VRDN Austin Trust Certificates Series 2008-1053 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
12,190,000 | 0.620 | 03/05/09 | 12,190,000 | |||||||||||
Texas State GO VRDN Eagle Series 2006-0126 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
5,000,000 | 0.690 | 03/05/09 | 5,000,000 | |||||||||||
Texas State GO VRDN Eagle Series 2007-0139 A (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
8,685,000 | 0.680 | 03/05/09 | 8,685,000 | |||||||||||
Texas State GO VRDN Macon Certificates Trust Series 2005-I (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
9,390,000 | 0.620 | 03/05/09 | 9,390,000 | |||||||||||
Texas State GO VRDN Putters Series 2008-2490 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
5,565,000 | 0.600 | 03/05/09 | 5,565,000 | |||||||||||
Texas State GO VRDN Putters Series 2008-2491 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
2,335,000 | 0.600 | 03/05/09 | 2,335,000 | |||||||||||
Texas State GO VRDN Putters Series 2008-2568 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
11,115,000 | 0.600 | 03/05/09 | 11,115,000 | |||||||||||
Texas State GO VRDN Putters Series 2008-2615 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
8,400,000 | 0.600 | 03/05/09 | 8,400,000 | |||||||||||
Texas State GO VRDN ROCS-RR-II R-11184 Series 2007 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
6,215,000 | 0.680 | 03/05/09 | 6,215,000 | |||||||||||
Texas State Public Finance Authority CP Series 2002 (A-1+/P-1) | ||||||||||||||
16,000,000 | 0.650 | 03/23/09 | 16,000,000 | |||||||||||
6,200,000 | 1.050 | 04/01/09 | 6,200,000 | |||||||||||
9,000,000 | 0.530 | 07/28/09 | 9,000,000 | |||||||||||
Texas State Public Finance Authority CP Series 2003 C | ||||||||||||||
20,000,000 | 0.500 | 04/01/09 | 20,000,000 | |||||||||||
13,700,000 | 0.500 | 08/24/09 | 13,700,000 | |||||||||||
Texas State Public Finance Authority GO CP Series 2009 | ||||||||||||||
3,600,000 | 0.550 | 06/11/09 | 3,600,000 | |||||||||||
6,000,000 | 0.500 | 07/28/09 | 6,000,000 | |||||||||||
Texas State TRANS Series 2008 (SP-1+/MIG1) | ||||||||||||||
262,200,000 | 3.000 | 08/28/09 | 263,987,117 | |||||||||||
Texas State Transportation Commision GO VRDN Floaters Series 2005 K15 Reg. D (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
3,790,000 | 0.680 | 03/05/09 | 3,790,000 | |||||||||||
Texas State Transportation Commission Austin Trust Certificates GO VRDN Series 2007-1026 (Bank of America N.A. SPA) (A-1+)(a) | ||||||||||||||
27,500,000 | 0.620 | 03/05/09 | 27,500,000 | |||||||||||
Texas State Transportation Commission RB First Tier Series 2006 A (AAA/Aa1) | ||||||||||||||
8,000,000 | 5.000 | 04/01/09 | 8,022,159 | |||||||||||
Texas State Transportation Commission RB First Tier Series 2007 (AAA/Aa1) | ||||||||||||||
3,000,000 | 5.000 | 04/01/09 | 3,009,812 | |||||||||||
Texas State Transportation Commission VRDN RB Putters Series 2007-2214 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
7,495,000 | 0.600 | 03/05/09 | 7,495,000 | |||||||||||
Texas State Transportation Commission VRDN RB Putters Series 2008-2563 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,335,000 | 0.600 | 03/05/09 | 3,335,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
38
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Texas (continued) | ||||||||||||||
Texas State Transportation Commission VRDN RB Putters Series 2008-2902 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
$ | 14,395,000 | 0.600 | % | 03/05/09 | $ | 14,395,000 | ||||||||
Texas State Transportation GO VRDN Floaters Series 2007-2043 (Wells Fargo Bank N.A. SPA) (F1+)(b) | ||||||||||||||
13,270,000 | 1.000 | 03/05/09 | 13,270,000 | |||||||||||
Texas Technical University CP Series 2008 A-1 (A-1+/P-1) | ||||||||||||||
17,000,000 | 1.050 | 04/01/09 | 17,000,000 | |||||||||||
Texas Technical University CP Series 2009 A-1 (A-1+/P-1) | ||||||||||||||
11,080,000 | 0.400 | 03/05/09 | 11,080,000 | |||||||||||
Texas Water Development Board Austin Trust Certificates VRDN RB Series 2008-1173 (Bank of America N.A. SPA) (A-1+) | ||||||||||||||
6,000,000 | 0.620 | 03/05/09 | 6,000,000 | |||||||||||
University of Texas CP Series 2008 (A-1/P-1) | ||||||||||||||
30,000,000 | 1.600 | 03/02/09 | 30,000,000 | |||||||||||
25,000,000 | 0.650 | 03/23/09 | 25,000,000 | |||||||||||
University of Texas CP Series 2009 | ||||||||||||||
35,000,000 | 0.450 | 05/18/09 | 35,000,000 | |||||||||||
10,500,000 | 0.500 | 06/11/09 | 10,500,000 | |||||||||||
22,702,000 | 0.500 | 07/28/09 | 22,702,000 | |||||||||||
26,000,000 | 0.500 | 08/24/09 | 26,000,000 | |||||||||||
University of Texas Permanent University Fund VRDN RB ROCS-RR-II R-11290 Series 2007 (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
3,985,000 | 0.680 | 03/05/09 | 3,985,000 | |||||||||||
University of Texas Permanent University Fund VRDN RB Series 2007-1574 (Rabobank Netherland SPA) (F1+)(a) | ||||||||||||||
11,589,500 | 0.670 | 03/05/09 | 11,589,500 | |||||||||||
University of Texas VRDN RB Financing System Series 2008 B (A-1+/VMIG1) | ||||||||||||||
3,150,000 | 0.380 | 03/05/09 | 3,150,000 | |||||||||||
77,625,000 | 0.350 | 03/05/09 | 77,625,000 | |||||||||||
University of Texas VRDN RB Putters Series 2008-2775 (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
5,105,000 | 0.600 | 03/05/09 | 5,105,000 | |||||||||||
University of Texas VRDN RB Refunding Financing System Series 2007 B (A-1+/VMIG1) | ||||||||||||||
28,870,000 | 0.300 | 03/05/09 | 28,870,000 | |||||||||||
60,025,000 | 0.400 | 03/05/09 | 60,025,000 | |||||||||||
Waco Texas Educational Finance Corp. VRDN RB for Baylor University Series 2008 B (JPMorgan Chase & Co. SPA) (A-1+) | ||||||||||||||
76,285,000 | 0.530 | 03/04/09 | 76,285,000 | |||||||||||
$ | 1,839,373,781 | |||||||||||||
Utah—2.1% | ||||||||||||||
Jordan School District GO Bonds for Utah School Bond Guaranty Program Series 2004 (Aaa) | ||||||||||||||
2,500,000 | 4.500 | 06/15/09 | 2,525,143 | |||||||||||
Jordan School District GO Bonds for Utah School Bond Guaranty Program Series 2007 (State of Utah SPA) (Aaa) | ||||||||||||||
9,400,000 | 4.000 | 06/15/09 | 9,461,391 | |||||||||||
Murray City Hospital VRDN RB for IHC Health Services, Inc. Series 2003 C (A-1+) | ||||||||||||||
7,800,000 | 0.650 | 03/02/09 | 7,800,000 | |||||||||||
Murray City Hospital VRDN RB for IHC Health Services, Inc. Series 2003 D (A-1+) | ||||||||||||||
4,850,000 | 0.650 | 03/02/09 | 4,850,000 | |||||||||||
Murray City Hospital VRDN RB for IHC Health Services, Inc. Series 2005 C (Northern Trust Co. SPA) (A-1+/VMIG1) | ||||||||||||||
14,500,000 | 0.600 | 03/02/09 | 14,500,000 | |||||||||||
Riverton Hospital Revenue VRDN RB for IHC Health Services, Inc. Putters Series 2007-1762 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
49,500,000 | 0.600 | 03/05/09 | 49,500,000 | |||||||||||
Salt Lake County GO Bonds Series 2007 (AAA/Aaa) | ||||||||||||||
4,725,000 | 4.000 | 06/15/09 | 4,754,091 | |||||||||||
University of Utah VRDN RB Auxiliary & Campus Facilities Series 1997 A (JPMorgan Chase & Co. SPA) (A-1+/VMIG1) | ||||||||||||||
7,200,000 | 0.600 | 03/04/09 | 7,200,000 | |||||||||||
Utah County Hospital VRDN RB for IHC Health Services, Inc. Series 2002 B (Westdeutsche Landesbank AG SPA) (A-1+/VMIG1) | ||||||||||||||
54,000,000 | 0.480 | 03/05/09 | 54,000,000 | |||||||||||
Utah County Hospital VRDN RB for IHC Health Services, Inc. Series 2002 C (Westdeutsche Landesbank AG SPA) (A-1+/VMIG1) | ||||||||||||||
53,700,000 | 0.530 | 03/05/09 | 53,700,000 | |||||||||||
Weber County Hospital VRDN RB for IHC Health Services, Inc. Series 2000 C (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
13,825,000 | 0.650 | 03/02/09 | 13,825,000 | |||||||||||
$ | 222,115,625 | |||||||||||||
Virginia—2.0% | ||||||||||||||
Arlington County Public Improvement GO Bonds Series 2007 (AAA/Aaa) | ||||||||||||||
2,000,000 | 5.000 | 03/15/09 | 2,002,525 | |||||||||||
Fairfax County Economic Development Authority VRDN RB Smithsonian Institute Series 2003 A (Bank of America N.A. SPA) (A-1+/VMIG1) | ||||||||||||||
5,070,000 | 0.450 | 03/05/09 | 5,070,000 | |||||||||||
Fairfax County GO Bonds for Refunding & Public Improvement Series 2004 A (AAA/Aaa) | ||||||||||||||
2,000,000 | 5.250 | 04/01/09 | 2,006,259 | |||||||||||
Fairfax County IDA VRDN RB for Inova Health System Project Series 2005 A-2 (A-1/VMIG1) | ||||||||||||||
12,700,000 | 0.540 | 03/04/09 | 12,700,000 | |||||||||||
Fairfax County IDA VRDN RB for Inova Health System Project Series 2005 C-1 (A-1/VMIG1) | ||||||||||||||
15,885,000 | 0.550 | 03/04/09 | 15,885,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
39
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Virginia (continued) | ||||||||||||||
Fairfax County IDA VRDN RB for Inova Health System Project Series 2008 C-1 (A-1+/VMIG1) | ||||||||||||||
$ | 10,000,000 | 1.600 | % | 04/20/09 | $ | 10,000,000 | ||||||||
Fairfax County IDA VRDN RB for Inova Health System Project Series 2008 C-2 (A-1+/VMIG1) | ||||||||||||||
45,000,000 | 1.600 | 04/20/09 | 45,000,000 | |||||||||||
Fairfax County VRDN RB Putters Series 2008-3166 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
6,100,000 | 0.600 | 03/05/09 | 6,100,000 | |||||||||||
Loudoun County IDA VRDN RB for Howard Hughes Medical Center Series 2003 C (A-1+/VMIG1) | ||||||||||||||
16,445,000 | 0.450 | 03/04/09 | 16,445,000 | |||||||||||
Loudoun County IDA VRDN RB for Howard Hughes Medical Center Series 2003 D (A-1+/VMIG1) | ||||||||||||||
8,135,000 | 0.450 | 03/04/09 | 8,135,000 | |||||||||||
Loudoun County IDA VRDN RB for Howard Hughes Medical Series 2003 E (A-1+/VMIG1) | ||||||||||||||
6,900,000 | 0.420 | 03/04/09 | 6,900,000 | |||||||||||
Loudoun County IDA VRDN RB for Howard Hughes Medical Series 2003 F (A-1+/VMIG1) | ||||||||||||||
995,000 | 0.420 | 03/04/09 | 995,000 | |||||||||||
Montgomery County IDA VRDN RB for Virginia Technical Foundation Series 2005 (Bank of America N.A. LOC) (VMIG1) | ||||||||||||||
28,960,000 | 0.550 | 03/02/09 | 28,960,000 | |||||||||||
University of Virginia VRDN RB Eagle Series 2006-0017 Class A (Citibank N.A. SPA) (A-1)(a) | ||||||||||||||
12,200,000 | 0.650 | 03/05/09 | 12,200,000 | |||||||||||
University of Virginia VRDN RB General Series 2003 A (A-1+/VMIG1) | ||||||||||||||
7,100,000 | 0.350 | 03/04/09 | 7,100,000 | |||||||||||
University of Virginia VRDN RB Putters Series 2008-3188Z (JPMorgan Chase Bank & Co. SPA) (VMIG1)(a) | ||||||||||||||
3,750,000 | 0.800 | 03/02/09 | 3,750,000 | |||||||||||
Virginia College Building Authority Educational Facilities RB for 21st Century College & Equipment Series 2008 A (AA+/Aa1) | ||||||||||||||
7,000,000 | 5.000 | 02/01/10 | 7,272,555 | |||||||||||
Virginia College Building Authority VRDN RB Putters Series 2008-3276 (JPMorgan Chase & Co. SPA) (A-1)(a) | ||||||||||||||
8,570,000 | 0.600 | 03/05/09 | 8,570,000 | |||||||||||
Virginia Small Business Financing Authority Hospital VRDN RB for Carilion Clinic Obiligation Series 2008 B (Bank of America N.A. SPA) (VMIG1) | ||||||||||||||
9,000,000 | 0.600 | 03/02/09 | 9,000,000 | |||||||||||
Virginia State Public School Authority RB Refunding School Financing 1997 Series 2003 D (AA+/Aa1) | ||||||||||||||
3,000,000 | 5.000 | 02/01/10 | 3,112,551 | |||||||||||
Virginia State Resources Authority Clean Water RB Refunding Subordinated State Revolving Fund Series 2005 (AAA/Aaa) | ||||||||||||||
4,000,000 | 5.000 | 10/01/09 | 4,066,887 | |||||||||||
Virginia State Resources Authority VRDN RB Clean Water Putters Series 2008-3036 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
3,370,000 | 0.600 | 03/05/09 | 3,370,000 | |||||||||||
$ | 218,640,777 | |||||||||||||
Washington—2.2% | ||||||||||||||
Clark County School District No. 37 Vancouver GO Bonds Refunding Series 2003 A (State of Washington LOC) (Aa1) | ||||||||||||||
4,105,000 | 5.000 | 06/01/09 | 4,138,525 | |||||||||||
Energy Northwest Electric VRDN RB Putters Series 2007-2301 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
7,995,000 | 0.600 | 03/05/09 | 7,995,000 | |||||||||||
Energy Northwest Electric VRDN RB Putters Series 2008-2965 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
4,800,000 | 0.600 | 03/05/09 | 4,800,000 | |||||||||||
Energy Northwest Electric VRDN RB Putters Series 2008-3133 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
5,120,000 | 0.600 | 03/05/09 | 5,120,000 | |||||||||||
Energy Northwest Electric VRDN RB Refunding Project No. 3 Series 2003 E (JPMorgan Chase & Co. LOC) (A-1+/VMIG1) | ||||||||||||||
7,600,000 | 0.480 | 03/04/09 | 7,600,000 | |||||||||||
King County CP Series 2008 (Bayerische Landesbank SPA) (A-1/P-1) | ||||||||||||||
16,000,000 | 0.950 | 03/19/09 | 16,000,000 | |||||||||||
King County GO Bonds Refunding Series 2003 (AAA/Aaa) | ||||||||||||||
6,000,000 | 5.000 | 06/01/09 | 6,050,377 | |||||||||||
King County GO VRDN Putters Series 2008-2541 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
2,850,000 | 0.600 | 03/05/09 | 2,850,000 | |||||||||||
King County Sewer System VRDN RB Junior Lien Series 2001 B (Landesbank Hessen-Thueringen LOC) (A-1+/VMIG1) | ||||||||||||||
8,425,000 | 0.400 | 03/04/09 | 8,425,000 | |||||||||||
King County Sewer System VRDN RB ROCS-RR-II R-11717 Series 2009 (Citibank Bank N.A. SPA) (A-1)(a) | ||||||||||||||
5,650,000 | 0.680 | 03/05/09 | 5,650,000 | |||||||||||
King County VRDN RB Floater Certificates Series 2008 46C (Wells Fargo Bank N.A. SPA) (VMIG1)(b) | ||||||||||||||
9,940,000 | 1.000 | 07/23/09 | 9,940,000 | |||||||||||
Washington State GO Bonds Series 1999-2000 A (AA+/Aa1) | ||||||||||||||
3,000,000 | 5.625 | 07/01/09 | 3,037,839 | |||||||||||
Washington State GO Bonds Series 2009 C (AA+/Aa1) | ||||||||||||||
5,565,000 | 2.500 | 02/01/10 | 5,656,770 | |||||||||||
Washington State GO VRDN Putters Series 2008-2599 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
4,500,000 | 0.600 | 03/05/09 | 4,500,000 | |||||||||||
Washington State GO VRDN Putters Series 2008-3054 (JPMorgan Chase & Co. SPA) (A-1+)(a) | ||||||||||||||
3,035,000 | 0.600 | 03/05/09 | 3,035,000 | |||||||||||
The accompanying notes are an integral part of these financial statements.
40
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
Washington (continued) | ||||||||||||||
Washington State GO VRDN Putters Series 2008-3087 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
$ | 885,000 | 0.600 | % | 03/05/09 | $ | 885,000 | ||||||||
Washington State GO VRDN Putters Series 2008-3132 (JPMorgan Chase & Co. SPA) (VMIG1)(a) | ||||||||||||||
7,495,000 | 0.600 | 03/05/09 | 7,495,000 | |||||||||||
Washington State GO VRDN ROCS-RR-II R-11497 Series 2008 (Citibank N.A. SPA) (A-1+)(a) | ||||||||||||||
2,565,000 | 0.680 | 03/05/09 | 2,565,000 | |||||||||||
Washington State GO VRDN ROCS-RR-II R-12023 Series 2007 (Citibank N.A. SPA) (VMIG1)(a) | ||||||||||||||
17,005,000 | 0.730 | 03/05/09 | 17,005,000 | |||||||||||
Washington State GO VRDN ROCS-RR-II R-12215 Series 2007 (Bayerische Landesbank SPA) (A-1+)(a) | ||||||||||||||
17,025,000 | 0.710 | 03/05/09 | 17,025,000 | |||||||||||
Washington State GO VRDN ROCS-RR-II R-12220 Series 2007 (Bayerische Landesbank SPA) (A-1+/VMIG1)(a) | ||||||||||||||
4,800,000 | 0.670 | 03/05/09 | 4,800,000 | |||||||||||
Washington State GO VRDN ROCS-RR-II R-12221 Series 2007 (Bayerische Landesbank SPA) (A-1+/VMIG1)(a) | ||||||||||||||
6,075,000 | 0.670 | 03/05/09 | 6,075,000 | |||||||||||
Washington State GO VRDN Series 1996 A (Landesbank Hessen-Thueringen SPA) (A-1+/VMIG1) | ||||||||||||||
32,800,000 | 0.500 | 03/04/09 | 32,800,000 | |||||||||||
Washington State Health Austin Trust Certificates VRDN RB Series 2008-1180 (Bank of America N.A. SPA) (VMIG1)(a) | ||||||||||||||
7,645,000 | 0.620 | 03/05/09 | 7,645,000 | |||||||||||
Washington State Health Care Facilities Authority VRDN RB for Catholic Health Series 2008 A-5 (A-1+/VMIG1) | ||||||||||||||
43,235,000 | 0.450 | 03/04/09 | 43,235,000 | |||||||||||
$ | 234,328,511 | |||||||||||||
West Virginia—0.1% | ||||||||||||||
Marshall County VRDN PCRB for Mountaineer Carbon Co. Series 1985 (A-1+/P-1) | ||||||||||||||
11,200,000 | 0.650 | 03/02/09 | 11,200,000 | |||||||||||
West Virginia State GO Bonds for State Road Series 1999 (AAA/Aa3) | ||||||||||||||
2,000,000 | 5.750 | 06/01/15 | 2,043,725 | |||||||||||
$ | 13,243,725 | |||||||||||||
Wisconsin—1.2% | ||||||||||||||
Janesville School District GO Bonds for School Building Series 2007 (AAA/Aa3) | ||||||||||||||
1,000,000 | 3.750 | 03/01/09 | 1,000,052 | |||||||||||
Milwaukee GO Promisory Notes Series 2009 N1 (AA/Aa2) | ||||||||||||||
26,185,000 | 2.500 | 02/15/10 | 26,661,141 | |||||||||||
Wisconsin Health System Sisters Hospital CP Series 2003 B (FSA) | ||||||||||||||
15,700,000 | 1.500 | 05/18/09 | 15,700,000 | |||||||||||
16,575,000 | 1.500 | 05/19/09 | 16,575,000 | |||||||||||
Wisconsin Health System Sisters Hospital CP Series 2009 | ||||||||||||||
9,000,000 | 0.400 | 04/03/09 | 9,000,000 | |||||||||||
Wisconsin Sisters Hospital Services CP Series 2009 (FSA) | ||||||||||||||
27,475,000 | 1.500 | 05/19/09 | 27,475,000 | |||||||||||
Wisconsin State Ascension Health Authority VRDN RB Austin Trust Certificates Series 2008-1155 (Bank of America N. A. SPA) (A-1+)(a) | ||||||||||||||
6,495,000 | 0.620 | 03/05/09 | 6,495,000 | |||||||||||
Wisconsin State GO Bonds Series 2005 B (AA/Aa3) | ||||||||||||||
1,000,000 | 5.000 | 05/01/09 | 1,005,247 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB Gundersen Lutheran Series 2008 A (Wells Fargo Bank N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
5,000,000 | 0.530 | 03/05/09 | 5,000,000 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB Gundersen Lutheran Series 2008 B (Wells Fargo Bank N.A. LOC) (A-1+/VMIG1) | ||||||||||||||
7,500,000 | 0.530 | 03/05/09 | 7,500,000 | |||||||||||
Wisconsin State Health & Educational Facilities Authority VRDN RB for Luther Hospital Series 2008 (Mayo Clinic) (A-1+) | ||||||||||||||
13,800,000 | 1.680 | 04/15/09 | 13,800,000 | |||||||||||
$ | 130,211,440 | |||||||||||||
Wyoming—0.0% | ||||||||||||||
Uinta County VRDN PCRB Refunding for Chevron USA, Inc. Project Series 1993 (P-1) | ||||||||||||||
1,300,000 | 0.600 | 03/02/09 | 1,300,000 | |||||||||||
Total Investments—100.1% | $ | 10,798,391,006 | ||||||||||||
Liabilities in Excess of Other Assets—(0.1)% | (13,061,730 | ) | ||||||||||||
Net Assets—100.0% | $ | 10,785,329,276 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
41
Schedule of Investments
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
Financial Square Tax-Free Money Market Fund (continued)
February 28, 2009 (Unaudited)
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a) | Securities not registered under the Securities Act of 1933, as amended. Such securities have been determined to be liquid by the Investment Adviser. At February 28, 2009, these securities amounted to $1,604,011,000 or approximately 14.9% of net assets. | |
(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 February 28, 2009, these securities amounted to $107,185,000 or approximately 1.0% of net assets. | |
(c) | All or a portion represents a forward commitment. |
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 or 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 Information.
The accompanying notes are an integral part of these financial statements.
42
Investment Abbreviations:
BANS | — | Bond Anticipation Notes | ||
BHAC | — | Berkshire Hathaway Assurance Corp. | ||
COPS | — | Certificates of Participation | ||
CP | — | Commercial Paper | ||
DOT | — | Department of Transportation | ||
FGIC | — | Insured by Financial Guaranty Insurance Co. | ||
FNMA | — | Insured by Federal National Mortgage Association | ||
FSA | — | Insured by Financial Security Assurance Co. | ||
GO | — | General Obligation | ||
GTD | — | Guaranteed | ||
IDA | — | Industrial Development Authority | ||
IDB | — | Industrial Development Bond | ||
IHC | — | Intermountain Health Care | ||
ISD | — | Independent School District | ||
LOC | — | Letter of Credit | ||
MBIA | — | Insured by Municipal Bond Investors Assurance | ||
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 | ||
RR | — | Revenue Refunding | ||
SPA | — | Stand-by Purchase Agreement | ||
TANS | — | Tax Anticipation Notes | ||
TRANS | — | Tax Revenue Anticipation Notes | ||
TRS | — | Teacher’s Retirement System | ||
VRDN | — | Variable Rate Demand Notes | ||
The accompanying notes are an integral part of these financial statements.
43
Schedule of Investments
Financial Square Treasury Instruments Fund
Financial Square Treasury Instruments Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Treasury Obligations—101.4% | ||||||||||||||
United States Treasury Bills | ||||||||||||||
$ | 471,000,000 | 0.075 | % | 03/05/09 | $ | 470,996,075 | ||||||||
287,000,000 | 0.090 | 03/05/09 | 286,997,130 | |||||||||||
258,000,000 | 0.110 | 03/05/09 | 257,996,847 | |||||||||||
237,500,000 | 0.120 | 03/05/09 | 237,496,833 | |||||||||||
237,500,000 | 0.125 | 03/05/09 | 237,496,701 | |||||||||||
76,000,000 | 0.130 | 03/05/09 | 75,998,902 | |||||||||||
2,547,000,000 | 0.140 | 03/05/09 | 2,546,960,380 | |||||||||||
60,000,000 | 0.005 | 03/12/09 | 59,999,908 | |||||||||||
1,500,000,000 | 0.085 | 03/12/09 | 1,499,961,042 | |||||||||||
83,000,000 | 0.110 | 03/12/09 | 82,997,210 | |||||||||||
64,000,000 | 0.235 | 03/12/09 | 63,995,404 | |||||||||||
118,000,000 | 0.245 | 03/12/09 | 117,991,166 | |||||||||||
2,650,000,000 | 0.250 | 03/12/09 | 2,649,797,569 | |||||||||||
47,000,000 | 0.265 | 03/12/09 | 46,996,194 | |||||||||||
1,334,600,000 | 0.100 | 03/19/09 | 1,334,533,270 | |||||||||||
111,000,000 | 0.125 | 03/19/09 | 110,993,063 | |||||||||||
192,000,000 | 0.135 | (a) | 03/19/09 | 191,987,760 | ||||||||||
205,000,000 | 0.140 | (a) | 03/19/09 | 204,986,447 | ||||||||||
215,000,000 | 0.170 | 03/19/09 | 214,981,725 | |||||||||||
2,755,000,000 | 0.230 | 03/19/09 | 2,754,683,175 | |||||||||||
119,000,000 | 0.245 | 03/19/09 | 118,985,422 | |||||||||||
1,302,000,000 | 0.250 | 03/19/09 | 1,301,837,250 | |||||||||||
711,000,000 | 0.255 | 03/19/09 | 710,909,348 | |||||||||||
2,776,300,000 | 0.205 | 03/26/09 | 2,775,902,503 | |||||||||||
1,062,700,000 | 0.180 | 04/09/09 | 1,062,492,773 | |||||||||||
123,000,000 | 0.190 | 04/09/09 | 122,974,683 | |||||||||||
133,000,000 | 0.520 | 05/15/09 | 132,855,917 | |||||||||||
671,000,000 | 0.530 | 05/15/09 | 670,259,104 | |||||||||||
358,000,000 | 0.535 | 05/15/09 | 357,600,979 | |||||||||||
703,000,000 | 0.550 | 05/15/09 | 702,194,479 | |||||||||||
44,000,000 | 0.560 | 05/15/09 | 43,948,667 | |||||||||||
404,800,000 | 0.820 | 05/15/09 | 404,108,467 | |||||||||||
180,000,000 | 0.300 | 05/21/09 | 179,878,500 | |||||||||||
500,000,000 | 0.810 | 05/21/09 | 499,088,750 | |||||||||||
1,016,800,000 | 0.840 | 05/21/09 | 1,014,878,248 | |||||||||||
79,000,000 | 0.265 | 05/28/09 | 78,948,826 | |||||||||||
170,000,000 | 0.275 | 05/28/09 | 169,885,722 | |||||||||||
40,000,000 | 0.295 | 05/28/09 | 39,964,764 | |||||||||||
345,500,000 | 0.300 | 05/28/09 | 345,235,267 | |||||||||||
536,000,000 | 0.313 | (a) | 06/04/09 | 535,576,597 | ||||||||||
156,000,000 | 0.380 | 06/04/09 | 155,843,567 | |||||||||||
289,000,000 | 0.400 | 06/04/09 | 288,694,944 | |||||||||||
53,500,000 | 0.405 | 06/04/09 | 53,442,822 | |||||||||||
145,000,000 | 0.415 | 06/04/09 | 144,841,205 | |||||||||||
434,000,000 | 0.425 | 06/04/09 | 433,513,257 | |||||||||||
520,000,000 | 0.430 | 06/04/09 | 519,409,944 | |||||||||||
308,000,000 | 0.380 | 07/02/09 | 307,600,113 | |||||||||||
193,000,000 | 0.390 | 07/02/09 | 192,742,828 | |||||||||||
65,000,000 | 0.450 | 07/02/09 | 64,900,063 | |||||||||||
185,000,000 | 0.315 | 07/09/09 | 184,789,563 | |||||||||||
528,600,000 | 0.470 | 08/20/09 | 527,412,999 | |||||||||||
350,000,000 | 0.645 | 11/19/09 | 348,350,771 | |||||||||||
Total Investments—100.0% | $ | 27,936,915,143 | ||||||||||||
Liabilities in Excess of Other Assets—(0.0)% | (6,576,403 | ) | ||||||||||||
Net Assets—100.0% | $ | 27,930,338,740 | ||||||||||||
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a) | All or a portion represents a forward commitment. |
Interest rates represent the annualized yield on date of purchase for discounted securities.
The accompanying notes are an integral part of these financial statements.
44
Schedule of Investments
Financial Square Treasury Obligations Fund
Financial Square Treasury Obligations Fund
February 28, 2009 (Unaudited)
Principal | Interest | Maturity | Amortized | |||||||||||
Amount | Rate | Date | Cost | |||||||||||
U.S. Treasury Obligations—22.7% | ||||||||||||||
United States Treasury Bills | ||||||||||||||
$ | 138,200 | 1.320 | % | 04/30/09 | $ | 137,896 | ||||||||
5,000,000 | 0.520 | 05/15/09 | 4,994,583 | |||||||||||
20,000,000 | 0.530 | 05/15/09 | 19,977,917 | |||||||||||
13,000,000 | 0.535 | 05/15/09 | 12,985,510 | |||||||||||
27,500,000 | 0.550 | 05/15/09 | 27,468,490 | |||||||||||
2,000,000 | 0.560 | 05/15/09 | 1,997,667 | |||||||||||
19,000,000 | 0.930 | 05/15/09 | 18,963,188 | |||||||||||
153,000,000 | 0.965 | 05/15/09 | 152,692,406 | |||||||||||
42,000,000 | 0.990 | 05/15/09 | 41,913,375 | |||||||||||
156,000,000 | 1.010 | 05/15/09 | 155,671,750 | |||||||||||
142,000,000 | 0.300 | 05/21/09 | 141,904,150 | |||||||||||
26,300,000 | 0.320 | 05/21/09 | 26,281,064 | |||||||||||
8,000,000 | 0.265 | 05/28/09 | 7,994,818 | |||||||||||
17,000,000 | 0.275 | 05/28/09 | 16,988,572 | |||||||||||
21,000,000 | 0.295 | 05/28/09 | 20,979,776 | |||||||||||
114,000,000 | 0.300 | 05/28/09 | 113,915,267 | |||||||||||
189,000,000 | 0.313 | (a) | 06/04/09 | 188,850,703 | ||||||||||
54,000,000 | 0.380 | 06/04/09 | 53,945,850 | |||||||||||
100,000,000 | 0.400 | 06/04/09 | 99,894,444 | |||||||||||
91,000,000 | 0.405 | 06/04/09 | 90,902,744 | |||||||||||
4,000,000 | 0.410 | 06/04/09 | 3,995,672 | |||||||||||
50,000,000 | 0.415 | 06/04/09 | 49,945,243 | |||||||||||
149,000,000 | 0.425 | 06/04/09 | 148,832,892 | |||||||||||
517,000,000 | 0.430 | 06/04/09 | 516,413,349 | |||||||||||
152,000,000 | 0.390 | 07/02/09 | 151,797,460 | |||||||||||
320,000,000 | 1.330 | 07/02/09 | 318,545,867 | |||||||||||
200,000,000 | 0.315 | 07/09/09 | 199,772,500 | |||||||||||
446,000,000 | 0.375 | 08/06/09 | 445,265,958 | |||||||||||
451,000,000 | 0.400 | 08/06/09 | 450,208,245 | |||||||||||
62,000,000 | 0.430 | 08/13/09 | 61,877,808 | |||||||||||
218,000,000 | 0.470 | 08/20/09 | 217,510,469 | |||||||||||
360,000,000 | 0.645 | 11/19/09 | 358,303,650 | |||||||||||
620,000,000 | 0.705 | 12/17/09 | 616,466,775 | |||||||||||
192,000,000 | 0.610 | 02/11/10 | 190,871,093 | |||||||||||
Total Investments Before Repurchase Agreements | $ | 4,928,267,151 | ||||||||||||
Repurchase Agreements(b)—77.3% | ||||||||||||||
Barclays Capital, Inc. | ||||||||||||||
$ | 945,000,000 | 0.190 | % | 04/09/09 | $ | 945,000,000 | ||||||||
Maturity Value: $945,448,875 Settlement Date: 01/09/09 | ||||||||||||||
Collateralized by U.S. Treasury Notes, 2.125% to 4.625%, due 01/31/10 to 02/15/17, and U.S. Treasury STRIPS, 0.000%, due 11/15/10 to 05/15/14. The aggregate market value of the collateral, including accrued interest, was $963,899,998. | ||||||||||||||
Joint Repurchase Agreement Account I | ||||||||||||||
15,741,000,000 | 0.252 | 03/02/09 | 15,741,000,000 | |||||||||||
Maturity Value: $15,741,330,561 | ||||||||||||||
UBS Securities LLC | ||||||||||||||
56,400,000 | 0.230 | 03/02/09 | 56,400,000 | |||||||||||
Maturity Value: $56,401,081 | ||||||||||||||
Collateralized by U.S. Treasury STRIPS, 0.000% to 11.750%, due 05/15/09 to 11/15/18. The aggregate market value of the collateral, including accrued interest, was $57,529,623. | ||||||||||||||
Total Repurchase Agreements | $ | 16,742,400,000 | ||||||||||||
Total Investments—100.0% | $ | 21,670,667,151 | ||||||||||||
Liabilities in Excess of Other Assets—(0.0)% | (7,339,701 | ) | ||||||||||||
Net Assets—100.0% | $ | 21,663,327,450 | ||||||||||||
The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a) | All or a portion represents a forward commitment. | |
(b) | Unless noted, all repurchase agreements were entered into on February 27, 2009. Additional information on Joint Repurchase Agreement Account I appears on pages 46-47. |
Interest rates represent the annualized yield on date of purchase for discounted securities.
Investment Abbreviation: | ||||
STRIPS | — | Separate Trading of Registered Interest and Principal of Securities | ||
The accompanying notes are an integral part of these financial statements.
45
Schedule of Investments
Financial Square Funds
February 28, 2009 (Unaudited)
Financial Square Funds
February 28, 2009 (Unaudited)
ADDITIONAL INVESTMENT INFORMATION
Joint Repurchase Agreement Account I—At February 28, 2009, certain Funds had undivided interests in the Joint Repurchase Agreement Account I, as follows:
Principal | ||||
Fund | Amount | |||
Government | $ | 99,600,000 | ||
Money Market | 79,400,000 | |||
Prime Obligations | 343,500,000 | |||
Treasury Obligations | 15,741,000,000 | |||
Repurchase Agreements | ||||||||||||||||
Principal | Interest | Maturity | Maturity | |||||||||||||
Counterparty | Amount | Rate | Date | Value | ||||||||||||
Banc of America Securities LLC | $ | 400,000,000 | 0.25 | % | 03/02/09 | $ | 400,008,333 | |||||||||
Banc of America Securities LLC | 900,000,000 | 0.26 | 03/02/09 | 900,019,500 | ||||||||||||
Barclays Capital, Inc. | 3,561,900,000 | 0.26 | 03/02/09 | 3,561,977,174 | ||||||||||||
Citigroup Global Markets, Inc. | 1,000,000,000 | 0.25 | 03/02/09 | 1,000,020,833 | ||||||||||||
Credit Suisse Securities (USA) LLC | 1,500,000,000 | 0.25 | 03/02/09 | 1,500,031,250 | ||||||||||||
Deutsche Bank Securities, Inc. | 3,500,000,000 | 0.25 | 03/02/09 | 3,500,072,917 | ||||||||||||
Greenwich Capital Markets | 1,000,000,000 | 0.26 | 03/02/09 | 1,000,021,667 | ||||||||||||
JPMorgan Securities | 3,493,200,000 | 0.25 | 03/02/09 | 3,493,272,775 | ||||||||||||
Merrill Lynch & Co., Inc. | 400,000,000 | 0.26 | 03/02/09 | 400,008,667 | ||||||||||||
UBS Securities LLC | 1,000,000,000 | 0.23 | 03/02/09 | 1,000,019,167 | ||||||||||||
UBS Securities LLC | 175,000,000 | 0.25 | 03/02/09 | 175,003,646 | ||||||||||||
TOTAL | $ | 16,930,455,929 | ||||||||||||||
At February 28, 2009, the Joint Repurchase Agreement Account I was fully collateralized by Cash, $400,000,000; U.S. Treasury Bills, 0.000%, due 04/23/09 to 06/18/09; U.S. Treasury Bonds, 5.000% to 8.750%, due 08/15/20 to 05/15/37; U.S. Treasury Inflation Protected Securities, 0.625% to 4.250%, due 01/15/10 to 04/15/32; U.S. Treasury Interest-Only Stripped Securities, 0.000%, due 11/15/10 to 05/15/18; U.S. Treasury Notes, 1.125% to 13.250%, due 03/31/09 to 11/15/18 and U.S. Treasury Principal-Only Stripped Securities, 0.000%, due 05/15/09 to 05/15/38. The aggregate market value of the collateral, including accrued interest, was $17,260,722,706.
The accompanying notes are an integral part of these financial statements.
46
ADDITIONAL INVESTMENT INFORMATION (continued) |
Joint Repurchase Agreement Account II—At February 28, 2009, certain Funds had undivided interests in the Joint Repurchase Agreement Account II, as follows:
Principal | ||||
Fund | Amount | |||
Government | $ | 22,330,000,000 | ||
Money Market | 5,700,100,000 | |||
Prime Obligations | 7,590,000,000 | |||
Repurchase Agreements | ||||||||||||||||
Principal | Interest | Maturity | Maturity | |||||||||||||
Counterparty | Amount | Rate | Date | Value | ||||||||||||
Banc of America Securities LLC | $ | 5,600,000,000 | 0.28 | % | 03/02/09 | $ | 5,600,130,667 | |||||||||
Barclays Capital, Inc. | 1,500,000,000 | 0.25 | 03/02/09 | 1,500,031,250 | ||||||||||||
Barclays Capital, Inc. | 7,500,000,000 | 0.27 | 03/02/09 | 7,500,168,750 | ||||||||||||
Citigroup Global Markets, Inc. | 1,000,000,000 | 0.29 | 03/02/09 | 1,000,024,167 | ||||||||||||
Credit Suisse Securities (USA) LLC | 500,000,000 | 0.25 | 03/02/09 | 500,010,416 | ||||||||||||
Credit Suisse Securities (USA) LLC | 2,000,000,000 | 0.28 | 03/02/09 | 2,000,046,667 | ||||||||||||
Deutsche Bank Securities, Inc. | 1,500,000,000 | 0.25 | 03/02/09 | 1,500,031,250 | ||||||||||||
Deutsche Bank Securities, Inc. | 1,475,000,000 | 0.27 | 03/02/09 | 1,475,033,187 | ||||||||||||
Deutsche Bank Securities, Inc. | 7,000,000,000 | 0.29 | 03/02/09 | 7,000,169,167 | ||||||||||||
Greenwich Capital Markets | 500,000,000 | 0.29 | 03/02/09 | 500,012,083 | ||||||||||||
JPMorgan Securities | 2,565,000,000 | 0.28 | 03/02/09 | 2,565,059,850 | ||||||||||||
Merrill Lynch & Co., Inc. | 1,000,000,000 | 0.28 | 03/02/09 | 1,000,023,333 | ||||||||||||
Morgan Stanley & Co. | 3,075,000,000 | 0.26 | 03/02/09 | 3,075,066,625 | ||||||||||||
UBS Securities LLC | 2,275,000,000 | 0.26 | 03/02/09 | 2,275,049,292 | ||||||||||||
TOTAL | $ | 37,490,856,704 | ||||||||||||||
At February 28, 2009, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 1.950% to 6.900%, due 04/01/09 to 01/22/19; Federal Home Loan Bank, 2.650% to 6.270%, due 05/07/09 to 06/02/28; Federal Home Loan Mortgage Corp., 1.250% to 8.000%, due 04/09/09 to 02/01/48; Federal National Mortgage Association, 3.050% to 11.500%, due 04/01/09 to 02/01/49; Government National Mortgage Association, 3.500% to 7.500%, due 12/15/17 to 02/20/39; U.S. Treasury Bills, 0.000%, due 11/19/09 to 12/17/09; U.S. Treasury Bond, 6.250%, due 08/15/23; U.S. Treasury Inflation Protected Security, 3.000%, due 07/15/12; U.S. Treasury Notes, 1.125% to 5.125%, due 11/15/10 to 11/15/18; U.S. Treasury Principal-Only Stripped Security, 0.000%, due 05/15/10. The aggregate market value of the collateral, including accrued interest, was $38,331,216,272.
The accompanying notes are an integral part of these financial statements.
47
Goldman Sachs Trust—Financial Square Funds
Statements of Assets and Liabilities
Statements of Assets and Liabilities
February 28, 2009 (Unaudited)
Federal | Government | |||||||
Fund | Fund | |||||||
Assets: | ||||||||
Investments in securities, at value based on amortized cost—unaffiliated issuers | $ | 33,274,295,547 | $ | 36,600,287,450 | ||||
Repurchase agreements, at value based on amortized cost—unaffiliated issuers | — | 31,964,300,000 | ||||||
Repurchase agreements, at value based on amortized cost—affiliated issuers | — | 1,050,000,000 | ||||||
Cash | 9,511,096 | 368,378,065 | ||||||
Receivables: | ||||||||
Investment securities sold | 56,962,760 | — | ||||||
Interest | 32,836,801 | 28,411,781 | ||||||
Fund shares sold | — | 302,822 | ||||||
Reimbursement from investment adviser | — | 57,231 | ||||||
Other assets | 2,084,323 | 2,667,937 | ||||||
Total assets | 33,375,690,527 | 70,014,405,286 | ||||||
Liabilities: | ||||||||
Due to Custodian | — | — | ||||||
Payables: | ||||||||
Investment securities purchased | 252,954,974 | 2,175,757,786 | ||||||
Fund shares redeemed | — | 82,862 | ||||||
Amounts owed to affiliates | 4,954,050 | 8,563,013 | ||||||
Dividend distribution | 2,094,837 | 12,060,876 | ||||||
Accrued expenses | 1,443,779 | 2,618,005 | ||||||
Total liabilities | 261,447,640 | 2,199,082,542 | ||||||
Net Assets: | ||||||||
Paid-in capital | 33,113,185,175 | 67,812,636,024 | ||||||
Undistributed net investment income | 338,186 | 974,666 | ||||||
Accumulated net realized gain (loss) from investments | 719,526 | 1,712,054 | ||||||
Net assets | $ | 33,114,242,887 | $ | 67,815,322,744 | ||||
Net asset value, offering and redemption price per share | $1.00 | $1.00 | ||||||
Net Assets: | ||||||||
FST Shares | $ | 29,777,282,287 | $ | 59,430,208,750 | ||||
FST Select Shares | 107,675,613 | 1,607,627,323 | ||||||
FST Preferred Shares | 560,100,376 | 797,433,523 | ||||||
FST Capital Shares | 46,838,180 | 1,332,922,870 | ||||||
FST Administration Shares | 1,414,920,534 | 3,865,001,861 | ||||||
FST Service Shares | 1,207,425,897 | 782,128,417 | ||||||
Total Net Assets | $ | 33,114,242,887 | $ | 67,815,322,744 | ||||
Shares outstanding $0.001 par value (unlimited number of shares authorized): | ||||||||
FST Shares | 29,776,331,185 | 59,427,849,478 | ||||||
FST Select Shares | 107,672,174 | 1,607,563,511 | ||||||
FST Preferred Shares | 560,082,479 | 797,401,864 | ||||||
FST Capital Shares | 46,836,684 | 1,332,869,957 | ||||||
FST Administration Shares | 1,414,875,330 | 3,864,848,389 | ||||||
FST Service Shares | 1,207,387,323 | 782,097,361 | ||||||
The accompanying notes are an integral part of these financial statements.
48
Money | Prime | Tax-Free | Treasury | Treasury | ||||||||||||||
Market | Obligations | Money Market | Instruments | Obligations | ||||||||||||||
Fund | Fund | Fund | Fund | Fund | ||||||||||||||
$ | 14,773,319,988 | $ | 26,061,643,627 | $ | 10,798,391,006 | $ | 27,936,915,143 | $ | 4,928,267,151 | |||||||||
6,003,500,000 | 8,083,500,000 | — | — | 16,742,400,000 | ||||||||||||||
825,000,000 | 850,000,000 | — | — | — | ||||||||||||||
3,101 | 4,988 | — | 57,680 | 92,612 | ||||||||||||||
— | — | 11,687,985 | 932,613,399 | 188,876,520 | ||||||||||||||
14,823,548 | 46,556,171 | 26,856,062 | — | 471,268 | ||||||||||||||
— | — | 2,382,095 | — | — | ||||||||||||||
— | — | — | 398,919 | — | ||||||||||||||
1,696,161 | 4,556,472 | 925,916 | 377,392 | 100,714 | ||||||||||||||
21,618,342,798 | 35,046,261,258 | 10,840,243,064 | 28,870,362,533 | 21,860,208,265 | ||||||||||||||
— | — | 8,855,891 | — | — | ||||||||||||||
— | — | 42,122,656 | 932,550,804 | 188,850,703 | ||||||||||||||
136,755,601 | 128,366,681 | 980,350 | 1,328,291 | 2,095,000 | ||||||||||||||
2,762,342 | 4,536,386 | 1,445,649 | 4,305,464 | 2,708,473 | ||||||||||||||
3,581,178 | 9,210,517 | 1,013,313 | 733,949 | 2,173,099 | ||||||||||||||
667,206 | 1,917,926 | 495,929 | 1,105,285 | 1,053,540 | ||||||||||||||
143,766,327 | 144,031,510 | 54,913,788 | 940,023,793 | 196,880,815 | ||||||||||||||
21,474,527,376 | 34,908,620,237 | 10,784,841,366 | 27,923,955,000 | 21,651,827,367 | ||||||||||||||
2,809,558 | 9,225,277 | — | 1,187,938 | 1,608,257 | ||||||||||||||
(2,760,463 | ) | (15,615,766 | ) | 487,910 | 5,195,802 | 9,891,826 | ||||||||||||
$ | 21,474,576,471 | $ | 34,902,229,748 | $ | 10,785,329,276 | $ | 27,930,338,740 | $ | 21,663,327,450 | |||||||||
$1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||||||||||
$ | 19,881,570,346 | $ | 26,876,482,735 | $ | 9,707,323,007 | $ | 24,929,758,861 | $ | 17,019,904,224 | |||||||||
46,710,346 | 74,914,538 | 45,226,593 | 117,424,835 | 49,486,650 | ||||||||||||||
107,612,678 | 1,367,659,454 | 54,438,792 | 251,235,983 | 320,177,972 | ||||||||||||||
73,092,954 | 799,998,883 | 251,921,035 | 67,106,597 | 435,256,963 | ||||||||||||||
773,150,755 | 4,466,690,363 | 471,476,678 | 2,112,792,846 | 2,564,135,740 | ||||||||||||||
592,439,392 | 1,316,483,775 | 254,943,171 | 452,019,618 | 1,274,365,901 | ||||||||||||||
$ | 21,474,576,471 | $ | 34,902,229,748 | $ | 10,785,329,276 | $ | 27,930,338,740 | $ | 21,663,327,450 | |||||||||
19,881,517,824 | 26,881,404,289 | 9,706,838,041 | 24,924,060,983 | 17,010,930,278 | ||||||||||||||
46,710,221 | 74,928,187 | 45,224,347 | 117,397,996 | 49,459,671 | ||||||||||||||
107,612,389 | 1,367,908,686 | 54,436,062 | 251,178,557 | 320,004,464 | ||||||||||||||
73,092,758 | 800,144,685 | 251,908,428 | 67,091,257 | 435,021,049 | ||||||||||||||
773,147,679 | 4,467,504,431 | 471,453,088 | 2,112,309,914 | 2,562,751,829 | ||||||||||||||
592,437,800 | 1,316,723,723 | 254,930,446 | 451,916,293 | 1,273,660,076 | ||||||||||||||
49
Goldman Sachs Trust—Financial Square Funds
Statements of Operations
Statements of Operations
Federal Fund | ||||||||
For the Period | ||||||||
January 1, 2009 to | For the | |||||||
February 28, 2009* | Year Ended | |||||||
(Unaudited) | December 31, 2008 | |||||||
Investment income: | ||||||||
Interest income—from unaffiliated issuers | $ | 43,026,934 | $ | 558,861,672 | ||||
Interest income—from affiliated issuers | — | — | ||||||
Total investment income | 43,026,934 | 558,861,672 | ||||||
Expenses: | ||||||||
Fund-Level Expenses: | ||||||||
Management fees | 11,573,163 | 44,896,438 | ||||||
Transfer Agent fees | 564,545 | 2,706,640 | ||||||
Registration fees | 450,876 | 295,338 | ||||||
Custody and accounting fees | 269,890 | 1,066,327 | ||||||
Printing fees | 16,570 | 89,091 | ||||||
Professional fees | 12,772 | 77,961 | ||||||
Trustee fees | 2,771 | 15,689 | ||||||
Other | 1,682,875 | 2,536,147 | ||||||
Subtotal | 14,573,462 | 51,683,631 | ||||||
Class Specific Expenses: | ||||||||
FST Service Share fees | 1,068,332 | 5,280,366 | ||||||
FST Administration Share fees | 588,289 | 2,407,043 | ||||||
FST Preferred Share fees | 84,987 | 373,164 | ||||||
FST Capital Share fees | 9,996 | 36,504 | ||||||
FST Select Share fees | 5,300 | 16,400 | ||||||
Total expenses | 16,330,366 | 59,797,108 | ||||||
Less—expense reductions | (1,520,460 | ) | (5,887,208 | ) | ||||
Net expenses | 14,809,906 | 53,909,900 | ||||||
Net investment income | $ | 28,217,028 | $ | 504,951,772 | ||||
Net realized gain (loss) from investment transactions | 1,980,768 | 6,424,870 | ||||||
Payment by affiliate relating to certain investment transaction | — | — | ||||||
Net increase in net assets resulting from operations | $ | 30,197,796 | $ | 511,376,642 | ||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
The accompanying notes are an integral part of these financial statements.
50
Government Fund | Money Market Fund | Prime Obligations Fund | ||||||||||||||||||||
For the Period | For the Period | For the Period | ||||||||||||||||||||
January 1, 2009 to | For the | January 1, 2009 to | For the | January 1, 2009 to | For the | |||||||||||||||||
February 28, 2009* | Year Ended | February 28, 2009* | Year Ended | February 28, 2009* | Year Ended | |||||||||||||||||
(Unaudited) | December 31, 2008 | (Unaudited) | December 31, 2008 | (Unaudited) | December 31, 2008 | |||||||||||||||||
$ | 81,045,633 | $ | 623,139,281 | $ | 44,521,473 | $ | 680,416,970 | $ | 63,045,230 | $ | 1,436,494,051 | |||||||||||
1,141,183 | 9,923,067 | 539,136 | 7,423,719 | 545,701 | 9,248,554 | |||||||||||||||||
82,186,816 | 633,062,348 | 45,060,609 | 687,840,689 | 63,590,931 | 1,445,742,605 | |||||||||||||||||
20,555,547 | 54,364,217 | 7,047,164 | 48,052,598 | 11,439,580 | 102,032,819 | |||||||||||||||||
1,002,710 | 3,164,269 | 343,764 | 2,980,700 | 558,029 | 6,397,960 | |||||||||||||||||
1,031,443 | 210,510 | 42,829 | 199,507 | 48,045 | 330,331 | |||||||||||||||||
442,285 | 1,290,118 | 189,631 | 1,196,343 | 309,476 | 2,428,583 | |||||||||||||||||
15,617 | 92,231 | 15,530 | 100,997 | 17,240 | 162,012 | |||||||||||||||||
15,945 | 74,073 | 18,809 | 78,320 | 16,629 | 76,891 | |||||||||||||||||
2,771 | 15,689 | 2,771 | 15,689 | 2,771 | 15,689 | |||||||||||||||||
2,102,016 | 3,213,304 | 1,683,085 | 2,966,927 | 4,242,541 | 6,768,727 | |||||||||||||||||
25,168,334 | 63,424,411 | 9,343,583 | 55,591,081 | 16,634,311 | 118,213,012 | |||||||||||||||||
579,306 | 2,452,494 | 421,293 | 3,479,555 | 1,114,107 | 8,706,699 | |||||||||||||||||
1,574,249 | 6,257,304 | 290,036 | 2,103,330 | 1,726,133 | 11,845,540 | |||||||||||||||||
140,786 | 740,761 | 15,938 | 134,094 | 204,038 | 1,650,275 | |||||||||||||||||
343,470 | 1,108,610 | 13,774 | 61,267 | 202,966 | 1,436,472 | |||||||||||||||||
68,410 | 283,177 | 2,436 | 26,733 | 5,094 | 84,902 | |||||||||||||||||
27,874,555 | 73,266,757 | 10,087,060 | 61,396,060 | 19,886,649 | 141,936,900 | |||||||||||||||||
(4,680,823 | ) | (12,268,050 | ) | (1,636,764 | ) | (11,112,567 | ) | (2,531,027 | ) | (23,707,395 | ) | |||||||||||
23,193,732 | 60,998,707 | 8,450,296 | 50,283,493 | 17,355,622 | 118,229,505 | |||||||||||||||||
$ | 58,993,084 | $ | 572,063,641 | $ | 36,610,313 | $ | 637,557,196 | $ | 46,235,309 | $ | 1,327,513,100 | |||||||||||
1,280,565 | 32,246,331 | 64,078 | (2,642,218 | ) | 338,855 | (114,800,827 | ) | |||||||||||||||
— | — | — | — | — | 100,000,000 | |||||||||||||||||
$ | 60,273,649 | $ | 604,309,972 | $ | 36,674,391 | $ | 634,914,978 | $ | 46,574,164 | $ | 1,312,712,273 | |||||||||||
51
Goldman Sachs Trust—Financial Square Funds
Statement of Operations
Statement of Operations
Tax-Free Money Market Fund | ||||||||
For the Period | ||||||||
January 1, 2009 to | For the | |||||||
February 28, 2009* | Year Ended | |||||||
(Unaudited) | December 31, 2008 | |||||||
Investment income: | ||||||||
Interest income—from unaffiliated issuers | $ | 13,437,708 | $ | 247,532,452 | ||||
Interest income—from affiliated issuers | — | — | ||||||
Total investment income | 13,437,708 | 247,532,452 | ||||||
Expenses: | ||||||||
Fund-Level Expenses: | ||||||||
Management fees | 3,691,225 | 23,726,135 | ||||||
Transfer Agent fees | 180,060 | 1,443,428 | ||||||
Custody and accounting fees | 95,740 | 1,450,011 | ||||||
Registration fees | 27,512 | 118,315 | ||||||
Professional fees | 20,046 | 119,110 | ||||||
Printing fees | 11,480 | 72,217 | ||||||
Trustee fees | 2,771 | 15,689 | ||||||
Other | 859,899 | 1,384,223 | ||||||
Subtotal | 4,888,733 | 28,329,128 | ||||||
Class Specific Expenses: | ||||||||
FST Service Share fees | 216,079 | 1,580,164 | ||||||
FST Administration Share fees | 166,674 | 1,660,709 | ||||||
FST Preferred Share fees | 12,887 | 159,350 | ||||||
FST Capital Share fees | 65,254 | 431,446 | ||||||
FST Select Share fees | 2,277 | 15,335 | ||||||
Total expenses | 5,351,904 | 32,176,132 | ||||||
Less—expense reductions | (834,754 | ) | (7,129,750 | ) | ||||
Net expenses | 4,517,150 | 25,046,382 | ||||||
Net investment income | $ | 8,920,558 | $ | 222,486,070 | ||||
Net realized gain from investment transactions | 568,017 | 555,789 | ||||||
Net increase in net assets resulting from operations | $ | 9,488,575 | $ | 223,041,859 | ||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
The accompanying notes are an integral part of these financial statements.
52
Treasury Instruments Fund | Treasury Obligations Fund | |||||||||||||
For the Period | For the Period | |||||||||||||
January 1, 2009 to | For the | January 1, 2009 to | For the | |||||||||||
February 28, 2009* | Year Ended | February 28, 2009* | Year Ended | |||||||||||
(Unaudited) | December 31, 2008 | (Unaudited) | December 31, 2008 | |||||||||||
$ | 14,954,914 | $ | 303,625,971 | $ | 11,612,638 | $ | 283,521,060 | |||||||
— | — | — | 1,363,246 | |||||||||||
14,954,914 | 303,625,971 | 11,612,638 | 284,884,306 | |||||||||||
10,491,538 | 48,051,508 | 5,788,168 | 33,269,308 | |||||||||||
511,783 | 2,756,845 | 282,350 | 2,022,932 | |||||||||||
259,949 | 1,143,700 | 159,559 | 853,508 | |||||||||||
51,368 | 231,397 | 36,416 | 92,709 | |||||||||||
10,808 | 72,032 | 12,128 | 71,916 | |||||||||||
9,990 | 83,712 | 8,016 | 79,423 | |||||||||||
2,771 | 15,689 | 2,771 | 15,689 | |||||||||||
901,739 | 2,833,610 | 84,382 | 2,065,764 | |||||||||||
12,239,946 | 55,188,493 | 6,373,790 | 38,471,249 | |||||||||||
408,993 | 3,313,127 | 1,041,015 | 7,716,984 | |||||||||||
1,029,215 | 7,466,801 | 950,878 | 6,562,892 | |||||||||||
46,045 | 411,800 | 39,486 | 245,756 | |||||||||||
22,375 | 161,829 | 98,802 | 455,624 | |||||||||||
6,209 | 18,447 | 2,603 | 5,110 | |||||||||||
13,752,783 | 66,560,497 | 8,506,574 | 53,457,615 | |||||||||||
(2,226,507 | ) | (6,194,992 | ) | (1,065,167 | ) | (4,944,355 | ) | |||||||
11,526,276 | 60,365,505 | 7,441,407 | 48,513,260 | |||||||||||
$ | 3,428,638 | $ | 243,260,466 | $ | 4,171,231 | $ | 236,371,046 | |||||||
2,557,972 | 70,239,515 | 12,077,499 | 7,560,120 | |||||||||||
$ | 5,986,610 | $ | 313,499,981 | $ | 16,248,730 | $ | 243,931,166 | |||||||
53
Goldman Sachs Trust—Financial Square Funds
Statements of Changes in Net Assets
Statements of Changes in Net Assets
Federal Fund | ||||||||||||
For the Period | ||||||||||||
January 1, 2009 to | For the | For the | ||||||||||
February 28, 2009* | Year Ended | Year Ended | ||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | ||||||||||
From operations: | ||||||||||||
Net investment income | $ | 28,217,028 | $ | 504,951,772 | $ | 551,410,750 | ||||||
Net realized gain (loss) from investment transactions | 1,980,768 | 6,424,870 | 935,224 | |||||||||
Net increase in net assets resulting from operations | 30,197,796 | 511,376,642 | 552,345,974 | |||||||||
Distributions to shareholders: | ||||||||||||
From net investment income: | ||||||||||||
FST Shares | (26,967,371 | ) | (455,548,376 | ) | (481,656,463 | ) | ||||||
FST Select Shares | (86,853 | ) | (1,260,815 | ) | (62 | ) | ||||||
FST Preferred Shares | (359,570 | ) | (8,631,884 | ) | (7,967,752 | ) | ||||||
FST Capital Shares | (24,331 | ) | (480,119 | ) | (273,503 | ) | ||||||
FST Administration Shares | (653,663 | ) | (19,286,914 | ) | (30,990,154 | ) | ||||||
FST Service Shares | (125,240 | ) | (19,743,664 | ) | (31,124,208 | ) | ||||||
From net realized gains: | ||||||||||||
FST Shares | (1,445,904 | ) | (5,405,109 | ) | — | |||||||
FST Select Shares | (5,046 | ) | (15,066 | ) | — | |||||||
FST Preferred Shares | (24,249 | ) | (96,805 | ) | — | |||||||
FST Capital Shares | (1,908 | ) | (8,435 | ) | — | |||||||
FST Administration Shares | (67,190 | ) | (273,165 | ) | — | |||||||
FST Service Shares | (60,788 | ) | (282,447 | ) | — | |||||||
Total distributions to shareholders | (29,822,113 | ) | (511,032,799 | ) | (552,012,142 | ) | ||||||
From share transactions (at $1.00 per share): | ||||||||||||
Proceeds from sales of shares | 23,191,219,221 | 116,586,733,084 | 49,213,027,669 | |||||||||
Reinvestment of distributions | 22,820,704 | 418,589,268 | 464,762,629 | |||||||||
Cost of shares redeemed | (24,705,312,614 | ) | (99,331,054,440 | ) | (42,983,182,698 | ) | ||||||
Net increase (decrease) in net assets resulting from share transactions | (1,491,272,689 | ) | 17,674,267,912 | 6,694,607,600 | ||||||||
Net increase (decrease) | (1,490,897,006 | ) | 17,674,611,755 | 6,694,941,432 | ||||||||
Net assets: | ||||||||||||
Beginning of period | 34,605,139,893 | 16,930,528,138 | 10,235,586,706 | |||||||||
End of period | $ | 33,114,242,887 | $ | 34,605,139,893 | $ | 16,930,528,138 | ||||||
Undistributed net investment income | $ | 338,186 | $ | 338,186 | $ | 338,186 | ||||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
The accompanying notes are an integral part of these financial statements.
54
Government Fund | Money Market Fund | |||||||||||||||||||||
For the Period | For the Period | |||||||||||||||||||||
January 1, 2009 to | For the | For the | January 1, 2009 to | For the | For the | |||||||||||||||||
February 28, 2009* | Year Ended | Year Ended | February 28, 2009* | Year Ended | Year Ended | |||||||||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | (Unaudited) | December 31, 2008 | December 31, 2007 | |||||||||||||||||
$ | 58,993,084 | $ | 572,063,641 | $ | 413,135,535 | $ | 36,610,313 | $ | 637,557,196 | $ | 940,918,203 | |||||||||||
1,280,565 | 32,246,331 | (4,479 | ) | 64,078 | (2,642,218 | ) | (6,860 | ) | ||||||||||||||
60,273,649 | 604,309,972 | 413,131,056 | 36,674,391 | 634,914,978 | 940,911,343 | |||||||||||||||||
(53,371,429 | ) | (457,814,607 | ) | (278,099,004 | ) | (34,837,345 | ) | (591,297,803 | ) | (867,258,529 | ) | |||||||||||
(1,333,640 | ) | (21,069,146 | ) | (9,838,170 | ) | (87,112 | ) | (2,485,877 | ) | (6,439,110 | ) | |||||||||||
(741,401 | ) | (16,862,397 | ) | (20,161,843 | ) | (154,124 | ) | (3,678,008 | ) | (5,181,853 | ) | |||||||||||
(1,069,679 | ) | (15,886,153 | ) | (19,379,310 | ) | (81,471 | ) | (1,045,447 | ) | (894,696 | ) | |||||||||||
(2,341,072 | ) | (51,375,415 | ) | (66,682,891 | ) | (961,834 | ) | (20,921,327 | ) | (33,259,292 | ) | |||||||||||
(135,863 | ) | (9,055,923 | ) | (18,969,838 | ) | (494,683 | ) | (15,486,516 | ) | (27,877,864 | ) | |||||||||||
(11,196,725 | ) | (15,193,030 | ) | — | — | — | — | |||||||||||||||
(294,201 | ) | (387,283 | ) | — | — | — | — | |||||||||||||||
(185,019 | ) | (309,031 | ) | — | — | — | — | |||||||||||||||
(299,566 | ) | (419,528 | ) | — | — | — | — | |||||||||||||||
(829,003 | ) | (1,352,923 | ) | — | — | — | — | |||||||||||||||
(149,738 | ) | (218,665 | ) | — | — | — | — | |||||||||||||||
(71,947,336 | ) | (589,944,101 | ) | (413,131,056 | ) | (36,616,569 | ) | (634,914,978 | ) | (940,911,344 | ) | |||||||||||
62,342,419,575 | 220,115,862,932 | 65,777,621,848 | 26,656,313,086 | 160,213,384,096 | 118,791,667,426 | |||||||||||||||||
41,386,073 | 298,483,724 | 191,892,915 | 27,286,582 | 367,425,033 | 572,169,760 | |||||||||||||||||
(51,566,005,207 | ) | (177,117,234,724 | ) | (57,535,124,292 | ) | (24,985,920,395 | ) | (164,925,882,658 | ) | (110,395,351,888 | ) | |||||||||||
10,817,800,441 | 43,297,111,932 | 8,434,390,471 | 1,697,679,273 | (4,345,073,529 | ) | 8,968,485,298 | ||||||||||||||||
10,806,126,754 | 43,311,477,803 | 8,434,390,471 | 1,697,737,095 | (4,345,073,529 | ) | 8,968,485,297 | ||||||||||||||||
57,009,195,990 | 13,697,718,187 | 5,263,327,716 | 19,776,839,376 | 24,121,912,905 | 15,153,427,608 | |||||||||||||||||
$ | 67,815,322,744 | $ | 57,009,195,990 | $ | 13,697,718,187 | $ | 21,474,576,471 | $ | 19,776,839,376 | $ | 24,121,912,905 | |||||||||||
$ | 974,666 | $ | 974,666 | $ | 974,666 | $ | 2,809,558 | $ | 2,815,814 | $ | 173,596 | |||||||||||
55
Goldman Sachs Trust—Financial Square Funds
Statements of Changes in Net Assets
Statements of Changes in Net Assets
Prime Obligations Fund | ||||||||||||
For the Period | ||||||||||||
January 1, 2009 to | For the | For the | ||||||||||
February 28, 2009* | Year Ended | Year Ended | ||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | ||||||||||
From operations: | ||||||||||||
Net investment income | $ | 46,235,309 | $ | 1,327,513,100 | $ | 1,838,606,996 | ||||||
Net realized gain (loss) on investment transactions | 338,855 | (114,800,827 | ) | 47,553 | ||||||||
Payment by affiliate relating to certain investment transactions | — | 100,000,000 | — | |||||||||
Net increase in net assets resulting from operations | 46,574,164 | 1,312,712,273 | 1,838,654,549 | |||||||||
Distributions to shareholders: | ||||||||||||
From net investment income: | ||||||||||||
FST Shares | (35,977,314 | ) | (1,096,404,359 | ) | (1,387,265,745 | ) | ||||||
FST Select Shares | (138,915 | ) | (7,822,892 | ) | (19,267,251 | ) | ||||||
FST Preferred Shares | (1,522,091 | ) | (41,721,735 | ) | (62,212,662 | ) | ||||||
FST Capital Shares | (932,031 | ) | (23,599,227 | ) | (34,581,112 | ) | ||||||
FST Administration Shares | (3,981,586 | ) | (115,102,019 | ) | (252,920,511 | ) | ||||||
FST Service Shares | (759,450 | ) | (37,709,073 | ) | (82,407,266 | ) | ||||||
From net realized gains: | ||||||||||||
FST Shares | — | — | — | |||||||||
FST Select Shares | — | — | — | |||||||||
FST Preferred Shares | — | — | — | |||||||||
FST Capital Shares | — | — | — | |||||||||
FST Administration Shares | — | — | — | |||||||||
FST Service Shares | — | — | — | |||||||||
Total distributions to shareholders | (43,311,387 | ) | (1,322,359,305 | ) | (1,838,654,547 | ) | ||||||
From share transactions (at $1.00 per share): | ||||||||||||
Proceeds from sales of shares | 40,233,639,401 | 353,293,122,864 | 299,125,985,950 | |||||||||
Reinvestment of distributions | 16,101,135 | 441,214,406 | 642,325,029 | |||||||||
Cost of shares redeemed | (38,285,837,976 | ) | (367,185,329,610 | ) | (280,452,495,953 | ) | ||||||
Net increase (decrease) in net assets resulting from share transactions | 1,963,902,560 | (13,450,992,340 | ) | 19,315,815,026 | ||||||||
Net increase (decrease) | 1,967,165,337 | (13,460,639,372 | ) | 19,315,815,028 | ||||||||
Net assets: | ||||||||||||
Beginning of period | 32,935,064,411 | 46,395,703,783 | 27,079,888,755 | |||||||||
End of period | $ | 34,902,229,748 | $ | 32,935,064,411 | $ | 46,395,703,783 | ||||||
Undistributed net investment income | $ | 9,225,277 | $ | 6,301,355 | $ | 1,147,560 | ||||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
The accompanying notes are an integral part of these financial statements.
56
Tax-Free Money Market Fund | Treasury Instruments Fund | |||||||||||||||||||||
For the Period | For the Period | |||||||||||||||||||||
January 1, 2009 to | For the | For the | January 1, 2009 to | For the | For the | |||||||||||||||||
February 28, 2009* | Year Ended | Year Ended | February 28, 2009* | Year Ended | Year Ended | |||||||||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | (Unaudited) | December 31, 2008 | December 31, 2007 | |||||||||||||||||
$ | 8,920,558 | $ | 222,486,070 | $ | 315,655,533 | $ | 3,428,638 | $ | 243,260,466 | $ | 211,627,056 | |||||||||||
568,017 | 555,789 | 1,718,355 | 2,557,972 | 70,239,515 | 7,095,850 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
9,488,575 | 223,041,859 | 317,373,888 | 5,986,610 | 313,499,981 | 218,722,906 | |||||||||||||||||
(8,464,260 | ) | (196,975,638 | ) | (275,586,540 | ) | (3,416,700 | ) | (202,660,734 | ) | (152,781,216 | ) | |||||||||||
(36,954 | ) | (1,009,573 | ) | (2,077,489 | ) | (11,938 | ) | (615,484 | ) | (1,468,710 | ) | |||||||||||
(54,011 | ) | (2,971,334 | ) | (5,341,212 | ) | — | (4,738,432 | ) | (6,563,168 | ) | ||||||||||||
(162,446 | ) | (5,282,301 | ) | (6,671,994 | ) | — | (682,617 | ) | (572,309 | ) | ||||||||||||
(179,505 | ) | (11,472,694 | ) | (18,671,308 | ) | — | (28,977,214 | ) | (39,893,023 | ) | ||||||||||||
(23,382 | ) | (4,774,530 | ) | (7,306,990 | ) | — | (5,585,985 | ) | (10,348,630 | ) | ||||||||||||
— | (1,278,622 | ) | (801,636 | ) | (7,998,368 | ) | (49,214,094 | ) | (4,479,746 | ) | ||||||||||||
— | (5,181 | ) | (5,806 | ) | (36,054 | ) | (152,795 | ) | (32,470 | ) | ||||||||||||
— | (12,127 | ) | (20,915 | ) | (82,485 | ) | (875,864 | ) | (187,218 | ) | ||||||||||||
— | (38,562 | ) | (26,396 | ) | (27,136 | ) | (312,628 | ) | (9,879 | ) | ||||||||||||
— | (44,166 | ) | (60,924 | ) | (742,716 | ) | (6,555,921 | ) | (1,017,035 | ) | ||||||||||||
— | (33,405 | ) | (26,511 | ) | (145,063 | ) | (1,368,327 | ) | (333,819 | ) | ||||||||||||
(8,920,558 | ) | (223,898,133 | ) | (316,597,721 | ) | (12,460,460 | ) | (301,740,095 | ) | (217,687,223 | ) | |||||||||||
4,784,428,476 | 53,482,338,331 | 60,132,779,450 | 57,482,580 | 136,939,196,109 | 45,309,918,175 | |||||||||||||||||
6,616,301 | 152,563,776 | 201,833,954 | 9,216,108 | 206,267,487 | 90,592,459 | |||||||||||||||||
(4,723,599,565 | ) | (53,686,012,030 | ) | (57,156,471,612 | ) | (9,082,838,967 | ) | (111,967,016,159 | ) | (36,847,590,116 | ) | |||||||||||
67,445,212 | (51,109,923 | ) | 3,178,141,792 | (9,016,140,279 | ) | 25,178,447,437 | 8,552,920,518 | |||||||||||||||
68,013,229 | (51,966,197 | ) | 3,178,917,959 | (9,022,614,129 | ) | 25,190,207,323 | 8,553,956,201 | |||||||||||||||
10,717,316,047 | 10,769,282,244 | 7,590,364,285 | 36,952,952,869 | 11,762,745,546 | 3,208,789,345 | |||||||||||||||||
$ | 10,785,329,276 | $ | 10,717,316,047 | $ | 10,769,282,244 | $ | 27,930,338,740 | $ | 36,952,952,869 | $ | 11,762,745,546 | |||||||||||
$ | — | $ | — | $ | — | $ | 1,187,938 | $ | 1,187,938 | $ | 1,097,704 | |||||||||||
57
Goldman Sachs Trust—Financial Square Funds
Statements of Changes in Net Assets
Statements of Changes in Net Assets
Treasury Obligations Fund | ||||||||||||
For the Period | ||||||||||||
January 1, 2009 to | For the | For the | ||||||||||
February 28, 2009* | Year Ended | Year Ended | ||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | ||||||||||
From operations: | ||||||||||||
Net investment income | $ | 4,171,231 | $ | 236,371,046 | $ | 444,557,906 | ||||||
Net realized gain from investment transactions | 12,077,499 | 7,560,120 | 2,159,783 | |||||||||
Net increase in net assets resulting from operations | 16,248,730 | 243,931,166 | 446,717,689 | |||||||||
Distributions to shareholders: | ||||||||||||
From net investment income: | ||||||||||||
FST Shares | (4,071,101 | ) | (173,788,449 | ) | (239,326,819 | ) | ||||||
FST Select Shares | (15,705 | ) | (71,214 | ) | (45,904 | ) | ||||||
FST Preferred Shares | (43,559 | ) | (3,576,007 | ) | (7,636,468 | ) | ||||||
FST Capital Shares | (40,866 | ) | (3,941,099 | ) | (8,737,053 | ) | ||||||
FST Administration Shares | — | (36,977,912 | ) | (123,424,082 | ) | |||||||
FST Service Shares | — | (18,016,365 | ) | (65,939,106 | ) | |||||||
From net realized gains: | ||||||||||||
FST Shares | (2,833,991 | ) | (4,462,424 | ) | — | |||||||
FST Select Shares | (11,344 | ) | (16,681 | ) | — | |||||||
FST Preferred Shares | (52,546 | ) | (96,874 | ) | — | |||||||
FST Capital Shares | (87,745 | ) | (140,157 | ) | — | |||||||
FST Administration Shares | (507,552 | ) | (747,149 | ) | — | |||||||
FST Service Shares | (276,464 | ) | (512,866 | ) | — | |||||||
Total distributions to shareholders | (7,940,873 | ) | (242,347,197 | ) | (445,109,432 | ) | ||||||
From share transactions (at $1.00 per share): | ||||||||||||
Proceeds from sales of shares | 15,778,403,757 | 110,129,345,005 | 64,096,925,371 | |||||||||
Reinvestment of distributions | 3,512,382 | 147,912,604 | 225,758,735 | |||||||||
Cost of shares redeemed | (10,130,930,883 | ) | (111,517,640,087 | ) | (53,979,112,783 | ) | ||||||
Net increase (decrease) in net assets resulting from share transactions | 5,650,985,256 | (1,240,382,478 | ) | 10,343,571,323 | ||||||||
Net increase (decrease) | 5,659,293,113 | (1,238,798,509 | ) | 10,345,179,580 | ||||||||
Net assets: | ||||||||||||
Beginning of period | 16,004,034,337 | 17,242,832,846 | 6,897,653,266 | |||||||||
End of period | $ | 21,663,327,450 | $ | 16,004,034,337 | $ | 17,242,832,846 | ||||||
Undistributed net investment income | $ | 1,608,257 | $ | 1,608,257 | $ | 1,608,257 | ||||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
The accompanying notes are an integral part of these financial statements.
58
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements
February 28, 2009 (Unaudited)
1. Organization
Goldman Sachs Trust (the “Trust”) is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company. The following are the Goldman Sachs Funds included in this report (collectively, the “Funds” or individually a “Fund”), the share classes offered by each Fund and each Fund’s diversification status under the Act:
Share Classes | Diversified/ | |||||
Fund | Offered | Non-Diversified | ||||
Federal, Government, Money Market, Prime Obligations, Tax-Free Money Market, Treasury Instruments and Treasury Obligations | FST, FST Select, FST Preferred, FST Capital, FST Administration and FST Service | Diversified | ||||
The Funds seek to maximize current income to the extent consistent with the preservation of capital and the maintenance of liquidity by investing exclusively in high quality money market instruments. The Tax-Free Money Market Fund pursues its investment objective by investing in securities issued by or on behalf of states, territories, and possessions of the United States and their political subdivisions, agencies, authorities and instrumentalities, and the District of Columbia, the interest from which, if any, is in the opinion of bond counsel excluded from gross income for federal income tax purposes, and generally not an item of tax preference under the federal alternative minimum tax.
Goldman Sachs Asset Management, L.P., (“GSAM”), an affiliate of Goldman, Sachs & Co. (“Goldman Sachs”), serves as investment adviser to the Funds pursuant to a Management Agreement (the “Agreement”) with the Trust on behalf of the Funds.
The Funds changed their fiscal year end from December 31 to August 31. GSAM has agreed to reimburse the Funds for any costs associated with changing the Funds’ fiscal year ends.
2. Significant Accounting Policies
The following is a summary of significant accounting policies consistently followed by the Funds. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that may affect the reported amounts. Actual results could differ from those estimates.
A. Investment Valuation—
It is the Funds’ policy to use the amortized-cost method, as permitted by Rule 2a-7 under the Act, for valuing portfolio securities, which approximates market value. Under this method, all investments purchased at a discount or at a premium are valued by accreting or amortizing the difference between the original purchase price and maturity value of the issue over the period to maturity or reset date. To ensure the amortized-cost method approximates market value, GSAM will determine the difference between the net asset value per share (“NAV”) based upon amortized cost of each Fund and the NAV based upon available market quotations (or permitted substitutes) at least once a week or more frequently, if deemed necessary or appropriate.
59
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements (continued)
February 28, 2009 (Unaudited)
B. Security Transactions and Interest Income—
Security transactions are reflected for financial reporting purposes as of the trade date. Realized gains and losses on sales of portfolio securities are calculated using the identified cost basis. Interest income is recorded on the basis of interest accrued, premium amortized and discount accreted.
Net investment income (other than class specific expenses) and accumulated realized gains or losses are allocated daily to each class of shares of the respective Funds based upon the relative proportion of settled shares of each class.
C. Expenses—
Expenses incurred by the Trust that do not specifically relate to an individual Fund of the Trust are allocated to the Funds on a straight-line and/or “pro-rata” basis depending upon the nature of the expense.
D. Federal Taxes and Distributions to Shareholders—
It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended (the “Code”), applicable to regulated investment companies and to distribute each year substantially all of its investment company taxable and tax-exempt income and capital gains to its shareholders. Accordingly, no Federal income tax provisions are required. Income distributions to shareholders are declared and recorded daily and paid monthly by the Funds. Long-term capital gain distributions, if any, are declared and paid annually.
The characterization of distributions to shareholders for financial reporting purposes is determined in accordance with U.S. Federal income tax rules, which may differ from GAAP.
As of the Funds’ most recent fiscal year end, December 31, 2008, the following Funds had capital loss carryforwards for U.S. Federal income tax purposes of:
Money | Prime | |||||||
Market | Obligations | |||||||
Capital loss carryforward1 | ||||||||
Expiring 2010 | $ | 11,758 | $ | — | ||||
Expiring 2012 | 13 | — | ||||||
Expiring 2013 | 24,827 | 710,876 | ||||||
Expiring 2014 | 138,865 | 442,918 | ||||||
Expiring 2015 | 6,860 | — | ||||||
Expiring 2016 | 2,642,218 | 14,800,827 | ||||||
Capital loss carryforward | $ | 2,824,541 | $ | 15,954,621 | ||||
1 | Expiration occurs on December 31 of the year indicated. |
The above capital loss carryforward amounts are available to be carried forward to future years and may be used to the extent allowed by the Code to offset any future capital gains.
The amortized cost for each Fund stated in the accompanying Statements of Assets and Liabilities also represents aggregate cost for U.S. Federal income tax purposes.
GSAM has reviewed the tax positions for the Funds for the open tax years (tax years ended December 31, 2005-2008) and determined that they did not have a material impact on the Funds’ financial statements.
E. Forward Commitment Transactions—
The Funds may enter into forward commitments. These transactions involve a commitment by the Funds to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement. The purchased securities in the forward commitment transactions do not begin to accrue interest income until the settlement date of these securities. Losses may arise due to changes in the market value of the security or from the inability of counterparties to meet the terms of the transaction. When entering into a forward commitment, the Funds must set aside liquid assets, or engage in other appropriate measures to cover their obligations.
60
F. Repurchase Agreements—
Certain Funds may enter into repurchase agreements. Repurchase agreements involve the purchase of securities subject to the seller’s agreement to repurchase the securities at a mutually agreed upon date and price. During the term of a repurchase agreement, the value of the underlying securities held as collateral on behalf of the Funds, including accrued interest, is required to exceed the value of the repurchase agreement, including accrued interest. If the seller defaults or becomes insolvent, realization of the collateral by the Funds may be delayed or limited and there may be a decline in the value of the collateral during the period while the Funds seek to assert their rights. The underlying securities for all repurchase agreements are held in safekeeping at the Funds’ custodian or designated subcustodians under tri-party repurchase agreements. Under these arrangements, the Funds are permitted to deliver or re-pledge these securities.
Pursuant to exemptive relief granted by the Securities and Exchange Commission (“SEC”) and terms and conditions contained therein, the Funds, together with other registered investment companies having management agreements with GSAM, or its affiliates, may transfer uninvested cash into joint accounts, the daily aggregate balance of which is invested in one or more repurchase agreements. In addition, the Funds’ credit exposure is allocated to the underlying repurchase counterparties on a pro-rata basis. With the exception of certain transaction fees, the Funds are not subject to any expenses in relation to these agreements.
3. Agreements
A. Management Agreement—
Under the Agreement, GSAM manages the Funds, subject to the general supervision of the Board of Trustees.
As compensation for the services rendered pursuant to the Agreement, the assumption of the expenses related thereto and administering the Funds’ business affairs, including providing facilities, GSAM is entitled to a fee (“Management fee”), computed daily and payable monthly, equal to an annual percentage rate of 0.205% of each Fund’s average daily net assets.
Effective July 1, 2008, GSAM has voluntarily agreed to reduce its waiver of its Management fee equal annually to 0.045% of average daily net assets of Government, Money Market, Prime Obligations and Tax-Free Money Market Funds and 0.025% of the average daily net assets of Federal, Treasury Instruments and Treasury Obligations Funds. Prior to July 1, 2008, GSAM had voluntarily agreed to waive a portion of its waiver of its Management fee equal annually to 0.05% of average daily net assets of Government, Money Market, Prime Obligations and Tax-Free Money Market Funds and 0.03% of the average daily net assets of Federal, Treasury Instruments and Treasury Obligations Funds.
B. Distribution Agreement—
Goldman Sachs serves as Distributor of shares of the Funds pursuant to a Distribution Agreement and receives no separate fee.
C. Service Plans—
The Trust, on behalf of each Fund, has adopted Service Plans to allow FST Select, FST Preferred, FST Capital, FST Administration and FST Service Shares to compensate service organizations for providing varying levels of account administration and shareholder liaison services to their customers who are beneficial owners of such shares. The Service Plans for FST Select, FST Preferred, FST Capital, FST Administration and FST Service Shares provide for compensation to the service organizations in an amount up to 0.03%, 0.10%, 0.15%, 0.25% and 0.50% (on an annual basis), respectively, of the average daily net assets of the respective shares.
Goldman Sachs has voluntarily agreed to waive a portion of the service fees attributable to the FST Capital, FST Administration and FST Service Shares for certain Funds. For the period ended February 28,
61
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements (continued)
February 28, 2009 (Unaudited)
2009, the effective service fees for Funds with a service fee waiver were as follows:
Effective Service Fees | |||||||||||||||
FST | FST | FST | |||||||||||||
Fund | Capital | Administration | Service | ||||||||||||
Federal | 0.15 | % | 0.25 | % | 0.47 | % | |||||||||
Tax-Free Money Market | 0.15 | 0.25 | 0.47 | ||||||||||||
Treasury Instruments | 0.14 | 0.20 | 0.25 | ||||||||||||
Treasury Obligations | 0.15 | 0.25 | 0.33 | ||||||||||||
For the year ended December 31, 2008, the effective service fees for Funds with a service fee waiver were as follows:
Effective Service Fees | |||||
Fund | FST Service | ||||
Treasury Instruments | 0.48 | % | |||
Treasury Obligations | 0.46 | ||||
As of February 28, 2009, the service fees for Funds with a service fee waiver were as follows:
Net Service Fees | ||||||||||
Fund | FST Administration | FST Service | ||||||||
Federal | 0.25 | % | 0.38 | % | ||||||
Prime Obligations | 0.25 | 0.48 | ||||||||
Treasury Instruments | 0.18 | 0.18 | ||||||||
Treasury Obligations | 0.25 | 0.29 | ||||||||
D. Transfer Agency Agreement—
Goldman Sachs also serves as the Transfer Agent of the Funds for a fee pursuant to a Transfer Agency Agreement. Effective July 1, 2008, the fees charged for such transfer agency services are calculated daily and payable monthly equal to an annual rate of 0.01% of the average daily net assets of each Fund. Prior to July 1, 2008, the fees charged for such transfer agency services were calculated daily and payable monthly equal to an annual rate of 0.015% of the average daily net assets of each Fund.
E. Other Agreements—
GSAM has voluntarily agreed to limit certain “Other Expenses” of the Funds (excluding Management fees, Transfer Agent fees and expenses, FST Select fees, FST Preferred fees, FST Capital fees, FST Administration fees, FST Service fees, taxes, interest, brokerage fees and litigation, indemnification, shareholder meeting costs and other extraordinary expenses, exclusive of any custody and transfer agent fee credit reductions) to the extent such expenses exceed, on an annual basis, 0.014% of each Fund’s average daily net assets. Such expense reimbursements, if any, are computed daily and paid monthly. In addition, the Funds are not obligated to reimburse GSAM for prior fiscal year expense reimbursements, if any.
In addition, the Funds have entered into certain expense offset arrangements with the custodian resulting in a reduction in the Funds’ expenses. For the period ended February 28, 2009, these expense reductions, including any waivers and expense reimbursements, were as follows (in thousands):
Management | Other | Custody | Service | ||||||||||||||||||||||
Fees | Expense | Fee | Plan Fee | ||||||||||||||||||||||
Fund | Waived | Reimbursements | Reductions | Waivers | Total | ||||||||||||||||||||
Federal | $ | 1,411 | $ | 40 | $ | 8 | $ | 61 | $ | 1,520 | |||||||||||||||
Government | 4,512 | 169 | — | — | 4,681 | ||||||||||||||||||||
Money Market | 1,547 | 89 | 1 | — | 1,637 | ||||||||||||||||||||
Prime Obligations | 2,511 | 18 | 2 | — | 2,531 | ||||||||||||||||||||
Tax-Free Money Market | 810 | 11 | 1 | 13 | 835 | ||||||||||||||||||||
Treasury Instruments | 1,279 | 521 | 6 | 421 | 2,227 | ||||||||||||||||||||
Treasury Obligations | 706 | 9 | 1 | 349 | 1,065 | ||||||||||||||||||||
62
For the year ended December 31, 2008, these expense reductions, including any waivers and expense reimbursements, were as follows (in thousands):
Management | Other | Custody | Service | ||||||||||||||||||||||
Fees | Expense | Fee | Plan Fee | ||||||||||||||||||||||
Fund | Waived | Reimbursements | Reductions | Waivers | Total | ||||||||||||||||||||
Federal | $ | 5,862 | $ | — | $ | 25 | $ | — | $ | 5,887 | |||||||||||||||
Government | 12,267 | — | 1 | — | 12,268 | ||||||||||||||||||||
Money Market | 11,112 | — | 1 | — | 11,113 | ||||||||||||||||||||
Prime Obligations | 23,670 | — | 37 | — | 23,707 | ||||||||||||||||||||
Tax-Free Money Market | 5,441 | 367 | 1,322 | — | 7,130 | ||||||||||||||||||||
Treasury Instruments | 6,041 | — | 39 | 115 | 6,195 | ||||||||||||||||||||
Treasury Obligations | 4,361 | — | 1 | 582 | 4,944 | ||||||||||||||||||||
As of February 28, 2009, the amounts owed to affiliates of the Funds were as follows (in thousands):
Transfer | |||||||||||||||
Management | Agent | ||||||||||||||
Fund | Fees | Fees | Total | ||||||||||||
Federal | $ | 4,693 | $ | 261 | $ | 4,954 | |||||||||
Government | 8,059 | 504 | 8,563 | ||||||||||||
Money Market | 2,600 | 162 | 2,762 | ||||||||||||
Prime Obligations | 4,269 | 267 | 4,536 | ||||||||||||
Tax-Free Money Market | 1,361 | 85 | 1,446 | ||||||||||||
Treasury Instruments | 4,079 | 226 | 4,305 | ||||||||||||
Treasury Obligations | 2,566 | 142 | 2,708 | ||||||||||||
F. Line of Credit Facility—
The Funds participate in a $700,000,000 committed, unsecured revolving line of credit facility (the “facility”) together with other funds of the Trust and registered investment companies having management agreements with GSAM or affiliates. Pursuant to the terms of the facility, the Funds and the other borrowers may increase the credit amount by an additional $300,000,000, for a total of up to $1 billion. This facility is to be used solely for temporary or emergency purposes. The interest rate on borrowings is based on the federal funds rate. The committed facility also requires a fee to be paid by the Funds based on the amount of the commitment that has not been utilized. For the period ended February 28, 2009, the Funds did not have any borrowings under the facility.
4. Fair Value of Investments
Under FASB Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“FAS 157”), the fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Fair value measurements do not include transaction costs. FAS 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FAS 157 are described below:
Basis of Fair Value Measurement
Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2—Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly;
Level 3—Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.
63
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements (continued)
February 28, 2009 (Unaudited)
The following is a summary of the levels within the fair value hierarchy in which the Funds invest:
Investments in Securities Long-Assets | ||||||||||||||||||||
Money | Prime | |||||||||||||||||||
Level | Federal | Government | Market | Obligations | ||||||||||||||||
Level 1 | $ | 3,033,124,712 | $ | — | $ | — | $ | 348,019,583 | ||||||||||||
Level 2(a) | 30,241,170,835 | 69,614,587,450 | 21,601,819,988 | 34,647,124,044 | ||||||||||||||||
Level 3 | — | — | — | — | ||||||||||||||||
Total | $ | 33,274,295,547 | $ | 69,614,587,450 | $ | 21,601,819,988 | $ | 34,995,143,627 | ||||||||||||
Investments in Securities Long-Assets | |||||||||||||||
Tax-Free | Treasury | Treasury | |||||||||||||
Level | Money Market | Instruments | Obligations | ||||||||||||
Level 1 | $ | — | $ | 27,936,915,143 | $ | 4,928,267,151 | |||||||||
Level 2(a) | 10,798,391,006 | — | 16,742,400,000 | ||||||||||||
Level 3 | — | — | — | ||||||||||||
Total | $ | 10,798,391,006 | $ | 27,936,915,143 | $ | 21,670,667,151 | |||||||||
(a) | The Funds utilize amortized cost which approximates fair value to value money market investments. This results primarily in a Level 2 classification as amortized cost is considered a model-based price. |
5. Other Risks
A. Indemnifications—
Under the Trust’s organizational documents, its trustees, officers, employees and agents are indemnified, to the extent permitted by the Act, against certain liabilities that may arise out of performance of their duties to the Trust. Additionally, in the course of business, the Funds enter into contracts that contain a variety of indemnification clauses. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds believe the risk of loss under these arrangements to be remote.
B. Market and Credit Risks—
In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk). Additionally, the Funds may also be exposed to credit risk in the event of the failure of an issuer to perform or that an institution or entity with which the Funds have unsettled or open transactions defaults.
C. Portfolio Concentrations—
As a result of the Tax-Free Money Market Fund’s ability to invest a large percentage of its assets in obligations of issuers within certain states, it is subject to possible concentration risks associated with economic, political or legal developments or industrial or regional matters specifically affecting such states.
6. Other Matters
A. Temporary Guarantee Program—
On October 3, 2008, the Board of Trustees of the Funds approved participation in the U.S. Treasury Department’s (the “Treasury”) Temporary Guarantee Program (the “Program”) for the Financial Square and VIT Money Market Funds and the Institutional Liquid Asset Portfolios. Each of these Funds paid the Treasury a fee based on the number of shares outstanding as of September 19, 2008 to participate in the Program for the initial 3-month term that expired on December 18, 2008. On December 3, 2008, the Board of Trustees approved participation in the extension of the Program through April 30, 2009, for the Federal, Government, Money Market, Prime Obligations and Tax-Free Money Market Funds. Subsequently, on April 9, 2009, the Board of Trustees approved further participation in the Program through September 18, 2009 for the Money Market, Prime Obligations and Tax-Free Money Market Funds. With each extension of the Program, the participating Funds paid the Treasury an additional fee based on the number of shares outstanding as of September 19, 2008.
Under the Program, if a participating Fund’s market-based net asset value per share drops below $0.995 on any day while the Program is in effect, shareholders of record on that date who also held shares in the participating Fund on September 19, 2008 may be eligible to receive a payment from the Treasury upon liquidation of the Fund. The fees are being amortized over the length of the participation in
64
the Program. The expense is borne by the participating Funds without regard to any expense limitation in effect for those Funds. Such amounts are included in other expenses on the Statements of Operations.
B. Transaction with Affiliate—
On September 22, 2008, The Goldman Sachs Group, Inc. made a voluntary and irrevocable capital infusion of $100,000,000 to the Prime Obligations Fund. This action was taken to ensure the Fund maintained the highest credit rating possible during a period in which the credit markets endured extremely volatile market conditions.
C. Exemptive Orders—
Pursuant to SEC exemptive orders, the Goldman Sachs money market funds may enter into certain principal transactions, including repurchase agreements, with Goldman Sachs.
65
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements (continued)
February 28, 2009 (Unaudited)
7. Summary of Share Transactions (at $1.00 per share)
Share activity is as follows:
Federal Fund | ||||||||||||
For the Period | ||||||||||||
January 1, 2009 to | For the | For the | ||||||||||
February 28, 2009* | Year Ended | Year Ended | ||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | ||||||||||
FST Shares | ||||||||||||
Shares sold | 19,863,354,028 | 95,446,773,943 | 38,311,759,493 | |||||||||
Reinvestment of distributions | 22,070,036 | 390,296,824 | 422,405,991 | |||||||||
Shares redeemed | (21,293,628,211 | ) | (79,726,945,092 | ) | (32,225,508,253 | ) | ||||||
(1,408,204,147 | ) | 16,110,125,675 | 6,508,657,231 | |||||||||
FST Select Shares | ||||||||||||
Shares sold | 100,941,866 | 359,442,777 | — | |||||||||
Reinvestment of distributions | 35,870 | 47,302 | 62 | |||||||||
Shares redeemed | (83,166,518 | ) | (269,630,420 | ) | — | |||||||
17,811,218 | 89,859,659 | 62 | ||||||||||
FST Preferred Shares | ||||||||||||
Shares sold | 623,213,545 | 2,735,581,299 | 526,074,125 | |||||||||
Reinvestment of distributions | 271,047 | 6,945,566 | 7,486,381 | |||||||||
Shares redeemed | (554,763,025 | ) | (2,566,415,890 | ) | (350,840,621 | ) | ||||||
68,721,567 | 176,110,975 | 182,719,885 | ||||||||||
FST Capital Shares | ||||||||||||
Shares sold | 51,055,748 | 254,718,165 | 11,638,757 | |||||||||
Reinvestment of distributions | 22,966 | 375,281 | 273,458 | |||||||||
Shares redeemed | (40,620,735 | ) | (226,655,921 | ) | (7,584,151 | ) | ||||||
10,457,979 | 28,437,525 | 4,328,064 | ||||||||||
FST Administration Shares | ||||||||||||
Shares sold | 867,698,083 | 7,897,386,576 | 3,102,910,716 | |||||||||
Reinvestment of distributions | 329,154 | 9,597,516 | 17,357,437 | |||||||||
Shares redeemed | (923,545,967 | ) | (7,022,983,161 | ) | (3,288,741,678 | ) | ||||||
(55,518,730 | ) | 884,000,931 | (168,473,525 | ) | ||||||||
FST Service Shares | ||||||||||||
Shares sold | 1,684,955,951 | 9,892,830,324 | 7,260,644,578 | |||||||||
Reinvestment of distributions | 91,631 | 11,326,779 | 17,239,300 | |||||||||
Shares redeemed | (1,809,588,158 | ) | (9,518,423,956 | ) | (7,110,507,995 | ) | ||||||
(124,540,576 | ) | 385,733,147 | 167,375,883 | |||||||||
Net increase (decrease) in shares | (1,491,272,689 | ) | 17,674,267,912 | 6,694,607,600 | ||||||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
66
Government Fund | Money Market Fund | |||||||||||||||||||||
For the Period | For the Period | |||||||||||||||||||||
January 1, 2009 to | For the | For the | January 1, 2009 to | For the | For the | |||||||||||||||||
February 28, 2009* | Year Ended | Year Ended | February 28, 2009* | Year Ended | Year Ended | |||||||||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | (Unaudited) | December 31, 2008 | December 31, 2007 | |||||||||||||||||
56,564,289,229 | 182,355,935,294 | 42,691,754,110 | 25,121,222,141 | 151,001,014,449 | 110,136,476,999 | |||||||||||||||||
37,736,607 | 250,189,316 | 133,173,404 | 25,835,205 | 337,197,673 | 521,420,824 | |||||||||||||||||
(45,997,834,510 | ) | (143,726,486,878 | ) | (35,998,585,770 | ) | (23,605,861,590 | ) | (154,998,013,750 | ) | (102,569,525,823 | ) | |||||||||||
10,604,191,326 | 38,879,637,732 | 6,826,341,744 | 1,541,195,756 | (3,659,801,628 | ) | 8,088,372,000 | ||||||||||||||||
745,011,615 | 5,895,762,249 | 1,011,668,311 | 5,809,637 | 349,544,061 | 1,005,473,685 | |||||||||||||||||
1,518,230 | 20,730,074 | 9,717,853 | 87,152 | 2,484,208 | 6,165,076 | |||||||||||||||||
(360,900,490 | ) | (5,132,821,699 | ) | (665,623,037 | ) | (13,271,704 | ) | (380,774,930 | ) | (956,873,320 | ) | |||||||||||
385,629,355 | 783,670,624 | 355,763,127 | (7,374,915 | ) | (28,746,661 | ) | 54,765,441 | |||||||||||||||
681,932,838 | 4,405,165,458 | 2,692,898,154 | 85,331,326 | 1,188,890,576 | 651,489,952 | |||||||||||||||||
447,816 | 7,679,689 | 12,401,743 | 148,584 | 3,555,441 | 5,134,883 | |||||||||||||||||
(907,045,465 | ) | (4,057,557,776 | ) | (2,422,917,216 | ) | (65,709,185 | ) | (1,266,239,330 | ) | (592,627,543 | ) | |||||||||||
(224,664,811 | ) | 355,287,371 | 282,382,681 | 19,770,725 | (73,793,313 | ) | 63,997,292 | |||||||||||||||
1,611,923,342 | 11,701,527,932 | 7,967,460,651 | 68,637,310 | 263,275,228 | 199,196,750 | |||||||||||||||||
1,044,414 | 6,731,377 | 15,924,172 | 81,107 | 1,010,441 | 882,308 | |||||||||||||||||
(1,535,887,638 | ) | (10,807,155,964 | ) | (7,781,952,779 | ) | (45,737,340 | ) | (268,195,734 | ) | (159,063,525 | ) | |||||||||||
77,080,118 | 901,103,345 | 201,432,044 | 22,981,077 | (3,910,065 | ) | 41,015,533 | ||||||||||||||||
2,053,432,851 | 12,397,209,009 | 8,354,041,709 | 534,246,170 | 5,354,580,747 | 5,240,871,994 | |||||||||||||||||
448,747 | 8,924,028 | 13,380,647 | 798,909 | 14,568,311 | 22,209,410 | |||||||||||||||||
(2,184,004,476 | ) | (10,297,995,836 | ) | (7,631,542,888 | ) | (446,669,564 | ) | (5,859,482,127 | ) | (4,704,486,380 | ) | |||||||||||
(130,122,878 | ) | 2,108,137,201 | 735,879,468 | 88,375,515 | (490,333,069 | ) | 558,595,024 | |||||||||||||||
685,829,700 | 3,360,262,990 | 3,059,798,913 | 841,066,502 | 2,056,079,035 | 1,558,158,046 | |||||||||||||||||
190,259 | 4,229,240 | 7,295,096 | 335,625 | 8,608,959 | 16,357,259 | |||||||||||||||||
(580,332,628 | ) | (3,095,216,571 | ) | (3,034,502,602 | ) | (808,671,012 | ) | (2,153,176,787 | ) | (1,412,775,297 | ) | |||||||||||
105,687,331 | 269,275,659 | 32,591,407 | 32,731,115 | (88,488,793 | ) | 161,740,008 | ||||||||||||||||
10,817,800,441 | 43,297,111,932 | 8,434,390,471 | 1,697,679,273 | (4,345,073,529 | ) | 8,968,485,298 | ||||||||||||||||
67
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements (continued)
February 28, 2009 (Unaudited)
7. Summary of Share Transactions (at $1.00 per share) (continued)
Share activity is as follows:
Share activity is as follows:
Prime Obligations Fund | ||||||||||||
For the Period | ||||||||||||
January 1, 2009 to | For the | For the | ||||||||||
February 28, 2009* | Year Ended | Year Ended | ||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | ||||||||||
FST Shares | ||||||||||||
Shares sold | 32,308,778,338 | 290,149,281,542 | 230,076,934,069 | |||||||||
Reinvestment of distributions | 13,768,175 | 362,970,659 | 487,002,828 | |||||||||
Shares redeemed | (30,666,857,989 | ) | (301,510,689,365 | ) | (212,478,271,348 | ) | ||||||
1,655,688,524 | (10,998,437,164 | ) | 18,085,665,549 | |||||||||
FST Select Shares | ||||||||||||
Shares sold | 144,283,201 | 2,221,385,557 | 3,037,658,794 | |||||||||
Reinvestment of distributions | 122,767 | 7,447,772 | 18,187,032 | |||||||||
Shares redeemed | (165,313,004 | ) | (2,400,147,966 | ) | (3,079,375,424 | ) | ||||||
(20,907,036 | ) | (171,314,637 | ) | (23,529,598 | ) | |||||||
FST Preferred Shares | ||||||||||||
Shares sold | 2,440,696,305 | 18,398,316,025 | 13,431,487,063 | |||||||||
Reinvestment of distributions | 824,712 | 28,342,874 | 45,184,913 | |||||||||
Shares redeemed | (2,459,353,791 | ) | (18,195,577,799 | ) | (14,094,256,022 | ) | ||||||
(17,832,774 | ) | 231,081,100 | (617,584,046 | ) | ||||||||
FST Capital Shares | ||||||||||||
Shares sold | 1,315,421,972 | 10,756,157,422 | 8,030,059,529 | |||||||||
Reinvestment of distributions | 318,800 | 6,791,256 | 17,398,360 | |||||||||
Shares redeemed | (1,292,996,631 | ) | (10,772,852,804 | ) | (7,848,462,824 | ) | ||||||
22,744,141 | (9,904,126 | ) | 198,995,065 | |||||||||
FST Administration Shares | ||||||||||||
Shares sold | 2,324,594,708 | 20,007,946,428 | 30,217,784,703 | |||||||||
Reinvestment of distributions | 695,051 | 17,263,204 | 41,049,887 | |||||||||
Shares redeemed | (1,919,082,532 | ) | (21,829,342,267 | ) | (29,003,735,484 | ) | ||||||
406,207,227 | (1,804,132,635 | ) | 1,255,099,106 | |||||||||
FST Service Shares | ||||||||||||
Shares sold | 1,699,864,877 | 11,760,035,890 | 14,332,061,792 | |||||||||
Reinvestment of distributions | 371,630 | 18,398,641 | 33,502,009 | |||||||||
Shares redeemed | (1,782,234,029 | ) | (12,476,719,409 | ) | (13,948,394,851 | ) | ||||||
(81,997,522 | ) | (698,284,878 | ) | 417,168,950 | ||||||||
Net increase (decrease) in shares | 1,963,902,560 | (13,450,992,340 | ) | 19,315,815,026 | ||||||||
* | The Funds changed their fiscal year end from December 31 to August 31. |
68
Tax-Free Money Market Fund | Treasury Instruments Fund | |||||||||||||||||||||
For the Period | For the Period | |||||||||||||||||||||
January 1, 2009 to | For the | For the | January 1, 2009 to | For the | For the | |||||||||||||||||
February 28, 2009* | Year Ended | Year Ended | February 28, 2009* | Year Ended | Year Ended | |||||||||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | (Unaudited) | December 31, 2008 | December 31, 2007 | |||||||||||||||||
4,149,530,236 | 47,956,643,891 | 54,750,598,715 | 139 | 107,607,236,523 | 36,477,370,131 | |||||||||||||||||
6,521,681 | 147,513,567 | 193,059,422 | 8,937,092 | 179,971,525 | 74,035,868 | |||||||||||||||||
(4,106,748,109 | ) | (47,515,484,612 | ) | (52,118,365,138 | ) | (7,665,270,511 | ) | (84,488,433,638 | ) | (29,177,747,663 | ) | |||||||||||
49,303,808 | 588,672,846 | 2,825,292,999 | (7,656,333,280 | ) | 23,298,774,410 | 7,373,658,336 | ||||||||||||||||
19,307,522 | 194,930,312 | 238,061,100 | — | 497,125,598 | 91,005,402 | |||||||||||||||||
36,569 | 890,047 | 1,197,575 | 48,002 | 766,531 | 1,477,265 | |||||||||||||||||
(14,827,089 | ) | (226,502,211 | ) | (269,114,411 | ) | (18,040,110 | ) | (392,047,388 | ) | (96,536,637 | ) | |||||||||||
4,517,002 | (30,681,852 | ) | (29,855,736 | ) | (17,992,108 | ) | 105,844,741 | (4,053,970 | ) | |||||||||||||
30,773,744 | 823,180,411 | 820,169,945 | — | 3,387,898,318 | 268,398,073 | |||||||||||||||||
16,536 | 884,714 | 1,577,802 | 70,178 | 3,613,043 | 268,804 | |||||||||||||||||
(58,565,869 | ) | (962,375,042 | ) | (927,845,201 | ) | (105,379,378 | ) | (3,254,368,207 | ) | (210,823,526 | ) | |||||||||||
(27,775,589 | ) | (138,309,917 | ) | (106,097,454 | ) | (105,309,200 | ) | 137,143,154 | 57,843,351 | |||||||||||||
43,123,123 | 1,247,652,479 | 784,200,042 | — | 1,034,685,307 | 195,371,491 | |||||||||||||||||
4,989 | 320,908 | 1,272,285 | 18,935 | 941,011 | 524,970 | |||||||||||||||||
(85,277,887 | ) | (1,271,632,304 | ) | (890,967,626 | ) | (106,618,431 | ) | (882,872,709 | ) | (192,904,660 | ) | |||||||||||
(42,149,775 | ) | (23,658,917 | ) | (105,495,299 | ) | (106,599,496 | ) | 152,753,609 | 2,991,801 | |||||||||||||
379,342,053 | 2,143,085,486 | 2,383,334,314 | 50,780,463 | 20,202,207,926 | 6,048,579,064 | |||||||||||||||||
32,548 | 1,933,386 | 2,799,028 | 133,436 | 15,549,178 | 8,432,133 | |||||||||||||||||
(270,451,398 | ) | (2,540,229,124 | ) | (1,951,596,165 | ) | (1,020,844,082 | ) | (18,687,527,434 | ) | (5,374,370,717 | ) | |||||||||||
108,923,203 | (395,210,252 | ) | 434,537,177 | (969,930,183 | ) | 1,530,229,670 | 682,640,480 | |||||||||||||||
162,351,798 | 1,116,845,752 | 1,156,415,334 | 6,701,978 | 4,210,042,437 | 2,229,194,014 | |||||||||||||||||
3,978 | 1,021,154 | 1,927,842 | 8,465 | 5,426,199 | 5,853,419 | |||||||||||||||||
(187,729,213 | ) | (1,169,788,737 | ) | (998,583,071 | ) | (166,686,455 | ) | (4,261,766,783 | ) | (1,795,206,913 | ) | |||||||||||
(25,373,437 | ) | (51,921,831 | ) | 159,760,105 | (159,976,012 | ) | (46,298,147 | ) | 439,840,520 | |||||||||||||
67,445,212 | (51,109,923 | ) | 3,178,141,792 | (9,016,140,279 | ) | 25,178,447,437 | 8,552,920,518 | |||||||||||||||
69
Goldman Sachs Trust—Financial Square Funds
February 28, 2009 (Unaudited)
Notes to Financial Statements (continued)
February 28, 2009 (Unaudited)
7. Summary of Share Transactions (at $1.00 per share) (continued)
Share activity is as follows:
Share activity is as follows:
Treasury Obligations Fund | ||||||||||||
For the Period | ||||||||||||
January 1, 2009 to | For the | For the | ||||||||||
February 28, 2009* | Year Ended | Year Ended | ||||||||||
(Unaudited) | December 31, 2008 | December 31, 2007 | ||||||||||
FST Shares | ||||||||||||
Shares sold | 12,559,173,882 | 86,026,192,902 | 40,069,208,287 | |||||||||
Reinvestment of distributions | 3,319,802 | 126,955,170 | 152,620,255 | |||||||||
Shares redeemed | (7,559,540,179 | ) | (85,796,774,424 | ) | (30,426,054,050 | ) | ||||||
5,002,953,505 | 356,373,648 | 9,795,774,492 | ||||||||||
FST Select Shares | ||||||||||||
Shares sold | 128,679,924 | 392,524,307 | 277,400,000 | |||||||||
Reinvestment of distributions | 26,820 | 80,822 | 32,876 | |||||||||
Shares redeemed | (112,167,883 | ) | (359,709,857 | ) | (277,411,269 | ) | ||||||
16,538,861 | 32,895,272 | 21,607 | ||||||||||
FST Preferred Shares | ||||||||||||
Shares sold | 185,734,452 | 602,927,104 | 1,124,767,546 | |||||||||
Reinvestment of distributions | 73,613 | 1,783,834 | 1,391,566 | |||||||||
Shares redeemed | (112,542,854 | ) | (1,004,702,743 | ) | (1,255,508,168 | ) | ||||||
73,265,211 | (399,991,805 | ) | (129,349,056 | ) | ||||||||
FST Capital Shares | ||||||||||||
Shares sold | 160,832,410 | 623,050,585 | 479,544,205 | |||||||||
Reinvestment of distributions | 26,443 | 2,085,373 | 4,345,697 | |||||||||
Shares redeemed | (86,226,421 | ) | (583,383,040 | ) | (256,151,622 | ) | ||||||
74,632,432 | 41,752,918 | 227,738,280 | ||||||||||
FST Administration Shares | ||||||||||||
Shares sold | 1,687,838,321 | 15,636,676,978 | 13,815,964,993 | |||||||||
Reinvestment of distributions | 46,020 | 4,153,721 | 11,568,247 | |||||||||
Shares redeemed | (1,120,423,508 | ) | (16,432,817,709 | ) | (13,393,638,880 | ) | ||||||
567,460,833 | (791,987,010 | ) | 433,894,360 | |||||||||
FST Service Shares | ||||||||||||
Shares sold | 1,056,144,768 | 6,847,973,129 | 8,330,040,340 | |||||||||
Reinvestment of distributions | 19,684 | 12,853,684 | 55,800,094 | |||||||||
Shares redeemed | (1,140,030,038 | ) | (7,340,252,314 | ) | (8,370,348,794 | ) | ||||||
(83,865,586 | ) | (479,425,501 | ) | 15,491,640 | ||||||||
Net increase (decrease) in shares | 5,650,985,256 | (1,240,382,478 | ) | 10,343,571,323 | ||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
70
Goldman Sachs Trust—Financial Square Funds
Financial Highlights
Selected Data for a Share Outstanding Throughout Each Period
Federal Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | investment | Ratio of total | investment | |||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | 0.001 | $ | (0.001 | ) | $ | 1.00 | 0.09 | % | $ | 29,777,282 | 0.21 | %(c) | 0.53 | %(c) | 0.24 | %(c) | 0.50 | %(c) | |||||||||||||||||||
2009-FST Select Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.09 | 107,676 | 0.24 | (c) | 0.49 | (c) | 0.27 | (c) | 0.46 | (c) | |||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.07 | 560,100 | 0.31 | (c) | 0.42 | (c) | 0.34 | (c) | 0.39 | (c) | |||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.07 | 46,838 | 0.36 | (c) | 0.37 | (c) | 0.39 | (c) | 0.34 | (c) | |||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.05 | 1,414,921 | 0.46 | (c) | 0.28 | (c) | 0.49 | (c) | 0.25 | (c) | |||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | — | (d) | — | (d) | 1.00 | 0.01 | 1,207,426 | 0.71 | (c) | 0.06 | (c) | 0.74 | (c) | 0.03 | (c) | ||||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0.025 | (0.025 | ) | 1.00 | 2.48 | 31,185,150 | 0.21 | 2.34 | 0.24 | 2.31 | |||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0.024 | (0.024 | ) | 1.00 | 2.45 | 89,863 | 0.24 | 2.29 | 0.27 | 2.26 | |||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0.024 | (0.024 | ) | 1.00 | 2.38 | 491,371 | 0.31 | 2.32 | 0.34 | 2.29 | |||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0.023 | (0.023 | ) | 1.00 | 2.33 | 36,379 | 0.36 | 1.99 | 0.39 | 1.96 | |||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0.022 | (0.022 | ) | 1.00 | 2.22 | 1,470,423 | 0.46 | 2.01 | 0.49 | 1.98 | |||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0.020 | (0.020 | ) | 1.00 | 1.97 | 1,331,954 | 0.71 | 1.88 | 0.74 | 1.85 | |||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0.050 | (0.050 | ) | 1.00 | 5.07 | 15,074,711 | 0.20 | 4.92 | 0.23 | 4.89 | |||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0.049 | (0.049 | ) | 1.00 | 5.04 | 1 | 0.23 | 4.91 | 0.26 | 4.88 | |||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0.049 | (0.049 | ) | 1.00 | 4.97 | 315,256 | 0.30 | 4.80 | 0.33 | 4.77 | |||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0.048 | (0.048 | ) | 1.00 | 4.91 | 7,941 | 0.35 | 4.77 | 0.38 | 4.74 | |||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.81 | 586,405 | 0.45 | 4.71 | 0.48 | 4.68 | |||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.55 | 946,214 | 0.70 | 4.42 | 0.73 | 4.39 | |||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0.048 | (0.048 | ) | 1.00 | 4.87 | 8,565,756 | 0.20 | 4.77 | 0.23 | 4.74 | |||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.84 | 1 | 0.23 | 4.60 | 0.26 | 4.57 | |||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.77 | 132,530 | 0.30 | 4.66 | 0.33 | 4.63 | |||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0.046 | (0.046 | ) | 1.00 | 4.72 | 3,613 | 0.35 | 4.62 | 0.38 | 4.59 | |||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.61 | 754,867 | 0.45 | 4.54 | 0.48 | 4.51 | |||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0.043 | (0.043 | ) | 1.00 | 4.35 | 778,820 | 0.70 | 4.27 | 0.73 | 4.24 | |||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0.030 | (0.030 | ) | 1.00 | 3.03 | 7,555,583 | 0.20 | 3.02 | 0.22 | 3.00 | |||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.030 | (0.030 | ) | 1.00 | 3.00 | 3 | 0.21 | 2.99 | 0.23 | 2.97 | |||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.029 | (0.029 | ) | 1.00 | 2.93 | 142,604 | 0.30 | 3.15 | 0.32 | 3.13 | |||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.029 | (0.029 | ) | 1.00 | 2.88 | 3,772 | 0.35 | 2.84 | 0.37 | 2.82 | |||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.028 | (0.028 | ) | 1.00 | 2.78 | 696,899 | 0.45 | 2.78 | 0.47 | 2.76 | |||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.025 | (0.025 | ) | 1.00 | 2.52 | 608,554 | 0.70 | 2.56 | 0.72 | 2.54 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Annualized. |
(d) | Amount is less than $0.0005 per share. |
The accompanying notes are an integral part of these financial statements.
71
Goldman Sachs Trust—Financial Square Funds
Financial Highlights
Selected Data for a Share Outstanding Throughout Each Period
Government Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | investment | Ratio of total | investment | |||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | 0.001 | $ | (0.001 | ) | $ | 1.00 | 0.12 | % | $ | 59,430,209 | 0.18 | %(d) | 0.61 | %(d) | 0.23 | %(d) | 0.56 | %(d) | |||||||||||||||||||
2009-FST Select Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.12 | 1,607,627 | 0.21 | (d) | 0.58 | (d) | 0.26 | (d) | 0.53 | (d) | |||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.11 | 797,434 | 0.28 | (d) | 0.53 | (d) | 0.33 | (d) | 0.48 | (d) | |||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.10 | 1,332,923 | 0.33 | (d) | 0.47 | (d) | 0.38 | (d) | 0.42 | (d) | |||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.08 | 3,865,002 | 0.43 | (d) | 0.37 | (d) | 0.48 | (d) | 0.32 | (d) | |||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | — | (c) | — | (c) | 1.00 | 0.04 | 782,128 | 0.68 | (d) | 0.12 | (d) | 0.73 | (d) | 0.07 | (d) | ||||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0.025 | (e) | (0.025 | )(e) | 1.00 | 2.51 | 48,835,964 | 0.19 | 2.17 | 0.24 | 2.12 | ||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0.025 | (e) | (0.025 | )(e) | 1.00 | 2.48 | 1,222,242 | 0.21 | 2.24 | 0.27 | 2.19 | ||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0.024 | (e) | (0.024 | )(e) | 1.00 | 2.41 | 1,022,324 | 0.29 | 2.28 | 0.34 | 2.23 | ||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0.023 | (e) | (0.023 | )(e) | 1.00 | 2.36 | 1,256,106 | 0.34 | 2.15 | 0.39 | 2.10 | ||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0.022 | (e) | (0.022 | )(e) | 1.00 | 2.25 | 3,995,979 | 0.44 | 2.06 | 0.49 | 2.01 | ||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0.020 | (e) | (0.020 | )(e) | 1.00 | 2.00 | 676,581 | 0.69 | 1.85 | 0.74 | 1.80 | ||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0.050 | (0.050 | ) | 1.00 | 5.13 | 9,944,020 | 0.18 | 4.88 | 0.24 | 4.82 | |||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0.050 | (0.050 | ) | 1.00 | 5.10 | 438,264 | 0.21 | 4.79 | 0.27 | 4.73 | |||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0.049 | (0.049 | ) | 1.00 | 5.03 | 666,779 | 0.28 | 4.87 | 0.34 | 4.81 | |||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0.049 | (0.049 | ) | 1.00 | 4.97 | 354,687 | 0.33 | 4.69 | 0.39 | 4.63 | |||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.87 | 1,886,834 | 0.43 | 4.72 | 0.49 | 4.66 | |||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.61 | 407,134 | 0.68 | 4.52 | 0.74 | 4.46 | |||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0.049 | (0.049 | ) | 1.00 | 4.95 | 3,117,679 | 0.18 | 4.89 | 0.24 | 4.83 | |||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0.048 | (0.048 | ) | 1.00 | 4.92 | 82,500 | 0.21 | 4.83 | 0.27 | 4.77 | |||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.85 | 384,397 | 0.28 | 4.74 | 0.34 | 4.68 | |||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.80 | 153,254 | 0.33 | 4.71 | 0.39 | 4.65 | |||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0.046 | (0.046 | ) | 1.00 | 4.69 | 1,150,955 | 0.43 | 4.60 | 0.49 | 4.54 | |||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0.043 | (0.043 | ) | 1.00 | 4.43 | 374,543 | 0.68 | 4.38 | 0.74 | 4.32 | |||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0.031 | (0.031 | ) | 1.00 | 3.10 | 2,715,310 | 0.18 | 3.07 | 0.23 | 3.02 | |||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.030 | (0.030 | ) | 1.00 | 3.07 | 75,772 | 0.21 | 2.87 | 0.26 | 2.82 | |||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.030 | (0.030 | ) | 1.00 | 3.00 | 406,025 | 0.28 | 2.91 | 0.33 | 2.86 | |||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.029 | (0.029 | ) | 1.00 | 2.95 | 113,461 | 0.33 | 2.99 | 0.38 | 2.94 | |||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.028 | (0.028 | ) | 1.00 | 2.85 | 1,163,046 | 0.43 | 2.86 | 0.48 | 2.81 | |||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.026 | (0.026 | ) | 1.00 | 2.59 | 293,121 | 0.68 | 2.58 | 0.73 | 2.53 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Amount is less than $0.0005 per share. |
(d) | Annualized. |
(e) | Net investment income and distributions from net investment income contain $0.001 and $(0.001) of realized capital gains and distributions from net realized gains for the year ended December 31, 2008, respectively. |
The accompanying notes are an integral part of these financial statements.
72
Goldman Sachs Trust—Financial Square Funds
Financial Highlights
Selected Data for a Share Outstanding Throughout Each Period
Money Market Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | investment | Ratio of total | investment | |||||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | 0 | .002 | $ | (0 | .002) | $ | 1.00 | 0.18 | % | $ | 19,881,570 | 0.19 | %(c) | 1.09 | %(c) | 0.24 | %(c) | 1.04 | %(c) | ||||||||||||||||||||
2009-FST Select Shares | 1.00 | 0 | .002 | (0 | .002) | 1.00 | 0.17 | 46,710 | 0.22 | (c) | 1.07 | (c) | 0.27 | (c) | 1.02 | (c) | ||||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | 0 | .002 | (0 | .002) | 1.00 | 0.16 | 107,613 | 0.29 | (c) | 0.97 | (c) | 0.34 | (c) | 0.92 | (c) | ||||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | 0 | .002 | (0 | .002) | 1.00 | 0.15 | 73,093 | 0.34 | (c) | 0.89 | (c) | 0.39 | (c) | 0.84 | (c) | ||||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.14 | 773,151 | 0.44 | (c) | 0.83 | (c) | 0.49 | (c) | 0.78 | (c) | ||||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.10 | 592,439 | 0.69 | (c) | 0.59 | (c) | 0.74 | (c) | 0.54 | (c) | ||||||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0 | .027 | (0 | .027) | 1.00 | 2.70 | 18,340,321 | 0.19 | 2.74 | 0.24 | 2.69 | ||||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0 | .026 | (0 | .026) | 1.00 | 2.67 | 54,085 | 0.22 | 2.80 | 0.27 | 2.75 | ||||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0 | .026 | (0 | .026) | 1.00 | 2.60 | 87,841 | 0.29 | 2.75 | 0.34 | 2.70 | ||||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0 | .025 | (0 | .025) | 1.00 | 2.54 | 50,112 | 0.34 | 2.59 | 0.39 | 2.54 | ||||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0 | .024 | (0 | .024) | 1.00 | 2.44 | 684,773 | 0.44 | 2.51 | 0.49 | 2.46 | ||||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0 | .022 | (0 | .022) | 1.00 | 2.19 | 559,707 | 0.69 | 2.24 | 0.74 | 2.19 | ||||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0 | .051 | (0 | .051) | 1.00 | 5.26 | 22,000,123 | 0.18 | 5.12 | 0.23 | 5.07 | ||||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0 | .051 | (0 | .051) | 1.00 | 5.23 | 82,832 | 0.21 | 5.14 | 0.26 | 5.09 | ||||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0 | .050 | (0 | .050) | 1.00 | 5.15 | 161,635 | 0.28 | 5.02 | 0.33 | 4.97 | ||||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0 | .050 | (0 | .050) | 1.00 | 5.10 | 54,022 | 0.33 | 4.92 | 0.38 | 4.87 | ||||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0 | .049 | (0 | .049) | 1.00 | 5.00 | 1,175,106 | 0.43 | 4.87 | 0.48 | 4.82 | ||||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0 | .046 | (0 | .046) | 1.00 | 4.74 | 648,195 | 0.68 | 4.63 | 0.73 | 4.58 | ||||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0 | .049 | (0 | .049) | 1.00 | 4.99 | 13,911,751 | 0.18 | 4.92 | 0.23 | 4.87 | ||||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0 | .049 | (0 | .049) | 1.00 | 4.96 | 28,066 | 0.21 | 4.87 | 0.26 | 4.82 | ||||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0 | .048 | (0 | .048) | 1.00 | 4.89 | 97,638 | 0.28 | 4.80 | 0.33 | 4.75 | ||||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0 | .047 | (0 | .047) | 1.00 | 4.84 | 13,006 | 0.33 | 4.69 | 0.38 | 4.64 | ||||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0 | .046 | (0 | .046) | 1.00 | 4.73 | 616,511 | 0.43 | 4.65 | 0.48 | 4.60 | ||||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0 | .044 | (0 | .044) | 1.00 | 4.47 | 486,455 | 0.68 | 4.42 | 0.73 | 4.37 | ||||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0 | .031 | (0 | .031) | 1.00 | 3.14 | 10,191,671 | 0.18 | 3.07 | 0.22 | 3.03 | ||||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0 | .031 | (0 | .031) | 1.00 | 3.11 | 42,112 | 0.21 | 3.03 | 0.25 | 2.99 | ||||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0 | .030 | (0 | .030) | 1.00 | 3.04 | 96,448 | 0.28 | 2.93 | 0.32 | 2.89 | ||||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0 | .029 | (0 | .029) | 1.00 | 2.99 | 35,586 | 0.33 | 3.12 | 0.37 | 3.08 | ||||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0 | .029 | (0 | .029) | 1.00 | 2.88 | 609,847 | 0.43 | 2.85 | 0.47 | 2.81 | ||||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0 | .026 | (0 | .026) | 1.00 | 2.63 | 341,523 | 0.68 | 2.62 | 0.72 | 2.58 | ||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Annualized. |
The accompanying notes are an integral part of these financial statements.
73
Goldman Sachs Trust—Financial Square Funds
Financial Highlights
Selected Data for a Share Outstanding Throughout Each Period
Prime Obligations Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | investment | Ratio of total | investment | |||||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | income to | expenses to | income to | ||||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | 0 | .001 | $ | (0 | .001) | $ | 1.00 | 0.14 | % | $ | 26,876,483 | 0.19 | %(c) | 0.89 | %(c) | 0.24 | %(c) | 0.84 | %(c) | ||||||||||||||||||||
2009-FST Select Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.13 | 74,915 | 0.22 | (c) | 0.87 | (c) | 0.27 | (c) | 0.82 | (c) | ||||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.12 | 1,367,659 | 0.29 | (c) | 0.80 | (c) | 0.34 | (c) | 0.75 | (c) | ||||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.11 | 799,999 | 0.34 | (c) | 0.74 | (c) | 0.39 | (c) | 0.69 | (c) | ||||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.09 | 4,466,690 | 0.44 | (c) | 0.63 | (c) | 0.49 | (c) | 0.58 | (c) | ||||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | 0 | .001 | (0 | .001) | 1.00 | 0.05 | 1,316,484 | 0.69 | (c) | 0.39 | (c) | 0.74 | (c) | 0.34 | (c) | ||||||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0 | .026 | (d) | (0 | .026) | 1.00 | 2.64 | (d) | 25,218,329 | 0.19 | 2.72 | 0.24 | 2.67 | ||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0 | .026 | (d) | (0 | .026) | 1.00 | 2.61 | (d) | 95,807 | 0.22 | 2.77 | 0.27 | 2.72 | ||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0 | .025 | (d) | (0 | .025) | 1.00 | 2.54 | (d) | 1,385,336 | 0.29 | 2.55 | 0.34 | 2.50 | ||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0 | .025 | (d) | (0 | .025) | 1.00 | 2.49 | (d) | 777,173 | 0.34 | 2.48 | 0.39 | 2.43 | ||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0 | .024 | (d) | (0 | .024) | 1.00 | 2.39 | (d) | 4,060,108 | 0.44 | 2.45 | 0.49 | 2.40 | ||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0 | .021 | (d) | (0 | .021) | 1.00 | 2.13 | (d) | 1,398,311 | 0.69 | 2.19 | 0.74 | 2.14 | ||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0 | .052 | (0 | .052) | 1.00 | 5.28 | 36,224,153 | 0.18 | 5.13 | 0.23 | 5.08 | ||||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0 | .051 | (0 | .051) | 1.00 | 5.24 | 267,150 | 0.21 | 5.13 | 0.26 | 5.08 | ||||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0 | .051 | (0 | .051) | 1.00 | 5.17 | 1,154,660 | 0.28 | 5.05 | 0.33 | 5.00 | ||||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0 | .050 | (0 | .050) | 1.00 | 5.12 | 787,305 | 0.33 | 5.00 | 0.38 | 4.95 | ||||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0 | .049 | (0 | .049) | 1.00 | 5.01 | 5,865,430 | 0.43 | 4.90 | 0.48 | 4.85 | ||||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0 | .047 | (0 | .047) | 1.00 | 4.75 | 2,097,006 | 0.68 | 4.65 | 0.73 | 4.60 | ||||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0 | .049 | (0 | .049) | 1.00 | 4.99 | 18,138,487 | 0.18 | 4.88 | 0.23 | 4.83 | ||||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0 | .049 | (0 | .049) | 1.00 | 4.96 | 290,680 | 0.21 | 4.94 | 0.26 | 4.89 | ||||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0 | .048 | (0 | .048) | 1.00 | 4.89 | 1,772,244 | 0.28 | 4.79 | 0.33 | 4.74 | ||||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0 | .047 | (0 | .047) | 1.00 | 4.83 | 588,310 | 0.33 | 4.78 | 0.38 | 4.73 | ||||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0 | .046 | (0 | .046) | 1.00 | 4.73 | 4,610,331 | 0.43 | 4.64 | 0.48 | 4.59 | ||||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0 | .044 | (0 | .044) | 1.00 | 4.47 | 1,679,837 | 0.68 | 4.41 | 0.73 | 4.36 | ||||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0 | .031 | (0 | .031) | 1.00 | 3.14 | 18,844,076 | 0.18 | 3.10 | 0.22 | 3.06 | ||||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0 | .031 | (0 | .031) | 1.00 | 3.11 | 98,894 | 0.21 | 3.08 | 0.25 | 3.04 | ||||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0 | .030 | (0 | .030) | 1.00 | 3.04 | 1,756,837 | 0.28 | 2.99 | 0.32 | 2.95 | ||||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0 | .029 | (0 | .029) | 1.00 | 2.98 | 478,857 | 0.33 | 3.03 | 0.37 | 2.99 | ||||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0 | .028 | (0 | .028) | 1.00 | 2.88 | 3,421,363 | 0.43 | 2.88 | 0.47 | 2.84 | ||||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0 | .026 | (0 | .026) | 1.00 | 2.62 | 1,375,066 | 0.68 | 2.64 | 0.72 | 2.60 | ||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Annualized. |
(d) | Reflects an increase of $0.002 per share and 0.22%, as a result of a voluntary and irrevocable capital infusion by Goldman Sachs Group, Inc. |
The accompanying notes are an integral part of these financial statements.
74
Goldman Sachs Trust—Financial Square Funds
Financial Highlights (continued)
Selected Data for a Share Outstanding Throughout Each Period
Tax-Free Money Market Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
�� | Ratio of net | |||||||||||||||||||||||||||||||||||||||
Ratio of net | investment | |||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | investment | Ratio of total | income | |||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | income to | expenses to | (loss) to | ||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | 0.001 | $ | (0.001 | ) | $ | 1.00 | 0.08 | % | $ | 9,707,323 | 0.19 | %(d) | 0.52 | %(d) | 0.23 | %(d) | 0.48 | %(d) | |||||||||||||||||||
2009-FST Select Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.08 | 45,227 | 0.22 | (d) | 0.49 | (d) | 0.26 | (d) | 0.45 | (d) | |||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.07 | 54,439 | 0.29 | (d) | 0.42 | (d) | 0.33 | (d) | 0.38 | (d) | |||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.06 | 251,921 | 0.34 | (d) | 0.37 | (d) | 0.38 | (d) | 0.33 | (d) | |||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | — | (c) | — | (c) | 1.00 | 0.04 | 471,477 | 0.44 | (d) | 0.27 | (d) | 0.48 | (d) | 0.23 | (d) | ||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | — | (c) | — | (c) | 1.00 | 0.01 | 254,943 | 0.66 | (d) | 0.05 | (d) | 0.73 | (d) | (0.02 | )(d) | ||||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0.020 | (0.020 | )(e) | 1.00 | 2.00 | 9,657,508 | 0.18 | 1.95 | 0.24 | 1.89 | |||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0.020 | (0.020 | )(e) | 1.00 | 1.97 | 40,707 | 0.21 | 1.98 | 0.27 | 1.92 | |||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0.019 | (0.019 | )(e) | 1.00 | 1.89 | 82,211 | 0.28 | 1.87 | 0.34 | 1.81 | |||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0.018 | (0.018 | )(e) | 1.00 | 1.84 | 294,058 | 0.33 | 1.84 | 0.39 | 1.78 | |||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0.017 | (0.017 | )(e) | 1.00 | 1.74 | 362,529 | 0.43 | 1.73 | 0.49 | 1.67 | |||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0.015 | (0.015 | )(e) | 1.00 | 1.49 | 280,303 | 0.68 | 1.52 | 0.74 | 1.46 | |||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0.035 | (0.035 | )(e) | 1.00 | 3.56 | 9,069,558 | 0.18 | 3.49 | 0.23 | 3.44 | |||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0.035 | (0.035 | )(e) | 1.00 | 3.53 | 71,395 | 0.21 | 3.47 | 0.26 | 3.42 | |||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0.034 | (0.034 | )(e) | 1.00 | 3.46 | 220,538 | 0.28 | 3.37 | 0.33 | 3.32 | |||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0.033 | (0.033 | )(e) | 1.00 | 3.41 | 317,742 | 0.33 | 3.30 | 0.38 | 3.25 | |||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0.032 | (0.032 | )(e) | 1.00 | 3.30 | 757,798 | 0.43 | 3.23 | 0.48 | 3.18 | |||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0.030 | (0.030 | )(e) | 1.00 | 3.05 | 332,251 | 0.68 | 2.98 | 0.73 | 2.93 | |||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0.033 | (0.033 | )(e) | 1.00 | 3.32 | 6,243,612 | 0.18 | 3.25 | 0.23 | 3.20 | |||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0.032 | (0.032 | )(e) | 1.00 | 3.29 | 101,244 | 0.21 | 3.21 | 0.26 | 3.16 | |||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0.032 | (0.032 | )(e) | 1.00 | 3.22 | 326,624 | 0.28 | 3.19 | 0.33 | 3.14 | |||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0.031 | (0.031 | )(e) | 1.00 | 3.17 | 423,215 | 0.33 | 3.12 | 0.38 | 3.07 | |||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0.030 | (0.030 | )(e) | 1.00 | 3.07 | 323,201 | 0.43 | 3.01 | 0.48 | 2.96 | |||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0.028 | (0.028 | )(e) | 1.00 | 2.81 | 172,468 | 0.68 | 2.77 | 0.73 | 2.72 | |||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0.022 | (0.022 | ) | 1.00 | 2.26 | 7,547,716 | 0.18 | 2.23 | 0.22 | 2.19 | |||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.022 | (0.022 | ) | 1.00 | 2.23 | 175,764 | 0.21 | 2.20 | 0.25 | 2.16 | |||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.022 | (0.022 | ) | 1.00 | 2.16 | 243,181 | 0.28 | 2.16 | 0.32 | 2.12 | |||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.021 | (0.021 | ) | 1.00 | 2.11 | 220,902 | 0.33 | 2.24 | 0.37 | 2.20 | |||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.020 | (0.020 | ) | 1.00 | 2.01 | 349,087 | 0.43 | 1.98 | 0.47 | 1.94 | |||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.017 | (0.017 | ) | 1.00 | 1.75 | 164,979 | 0.68 | 1.79 | 0.72 | 1.75 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Amount is less than $0.0005 per share. |
(d) | Annualized. |
(e) | Amount includes $0.0001, $0.0008 and $0.00004 of distributions from net realized gains for the years ended December 31, 2008, December 31, 2007 and December 31, 2006, respectively. |
The accompanying notes are an integral part of these financial statements.
75
Goldman Sachs Trust—Financial Square Funds
Financial Highlights (continued)
Selected Data for a Share Outstanding Throughout Each Period
Treasury Instruments Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
investment | investment | |||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | income | Ratio of total | income | |||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | (loss) to | expenses to | (loss) to | ||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | — | (d) | $ | — | (d) | $ | 1.00 | 0.04 | % | $ | 24,929,759 | 0.20 | %(e) | 0.09 | %(e) | 0.24 | %(e) | 0.05 | %(e) | ||||||||||||||||||
2009-FST Select Shares | 1.00 | — | (d) | — | (d) | 1.00 | 0.04 | 117,425 | 0.23 | (e) | 0.06 | (e) | 0.27 | (e) | 0.02 | (e) | ||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | — | (d) | — | (d) | 1.00 | 0.03 | 251,236 | 0.30 | (e) | (0.01 | )(e) | 0.34 | (e) | (0.05 | )(e) | ||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | — | (d) | — | (d) | 1.00 | 0.02 | 67,107 | 0.34 | (e) | (0.05 | )(e) | 0.39 | (e) | (0.10 | )(e) | ||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | — | (d) | — | (d) | 1.00 | 0.01 | 2,112,793 | 0.40 | (e) | (0.11 | )(e) | 0.49 | (e) | (0.20 | )(e) | ||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | — | (d) | — | (d) | 1.00 | — | (f) | 452,020 | 0.46 | (e) | (0.17 | )(e) | 0.74 | (e) | (0.45 | )(e) | |||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0.016 | (c) | (0.016 | )(c) | 1.00 | 1.57 | 32,591,735 | 0.21 | 1.05 | 0.24 | 1.02 | ||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0.015 | (c) | (0.015 | )(c) | 1.00 | 1.54 | 135,437 | 0.24 | 1.01 | 0.27 | 0.98 | ||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0.015 | (c) | (0.015 | )(c) | 1.00 | 1.47 | 356,612 | 0.31 | 1.15 | 0.34 | 1.12 | ||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0.014 | (c) | (0.014 | )(c) | 1.00 | 1.42 | 173,751 | 0.36 | 0.64 | 0.39 | 0.61 | ||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0.013 | (c) | (0.013 | )(c) | 1.00 | 1.32 | 3,083,313 | 0.46 | 0.97 | 0.49 | 0.94 | ||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0.011 | (c) | (0.011 | )(c) | 1.00 | 1.09 | 612,105 | 0.69 | 0.84 | 0.74 | 0.79 | ||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0.044 | (c) | (0.044 | )(c) | 1.00 | 4.46 | 9,282,486 | 0.20 | 3.91 | 0.24 | 3.87 | ||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0.043 | (c) | (0.043 | )(c) | 1.00 | 4.43 | 29,548 | 0.23 | 4.24 | 0.27 | 4.20 | ||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0.043 | (c) | (0.043 | )(c) | 1.00 | 4.36 | 219,365 | 0.30 | 4.07 | 0.34 | 4.03 | ||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0.042 | (c) | (0.042 | )(c) | 1.00 | 4.31 | 20,939 | 0.35 | 4.16 | 0.39 | 4.12 | ||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0.041 | (c) | (0.041 | )(c) | 1.00 | 4.20 | 1,552,156 | 0.45 | 3.89 | 0.49 | 3.85 | ||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0.039 | (c) | (0.039 | )(c) | 1.00 | 3.94 | 658,252 | 0.70 | 3.51 | 0.74 | 3.47 | ||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0.046 | (0.046 | ) | 1.00 | 4.66 | 1,907,998 | 0.20 | 4.60 | 0.24 | 4.56 | |||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.63 | 33,599 | 0.23 | 4.82 | 0.27 | 4.78 | |||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.55 | 161,504 | 0.30 | 4.48 | 0.34 | 4.44 | |||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0.044 | (0.044 | ) | 1.00 | 4.50 | 17,946 | 0.35 | 4.45 | 0.39 | 4.41 | |||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0.043 | (0.043 | ) | 1.00 | 4.40 | 869,388 | 0.45 | 4.37 | 0.49 | 4.33 | |||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0.041 | (0.041 | ) | 1.00 | 4.14 | 218,354 | 0.70 | 4.05 | 0.74 | 4.01 | |||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0.028 | (0.028 | ) | 1.00 | 2.84 | 1,201,313 | 0.20 | 2.78 | 0.24 | 2.74 | |||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.028 | (0.028 | ) | 1.00 | 2.81 | 67 | 0.23 | 2.78 | 0.27 | 2.74 | |||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.027 | (0.027 | ) | 1.00 | 2.74 | 133,806 | 0.30 | 3.07 | 0.34 | 3.03 | |||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.027 | (0.027 | ) | 1.00 | 2.69 | 6,468 | 0.35 | 2.58 | 0.39 | 2.54 | |||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.026 | (0.026 | ) | 1.00 | 2.58 | 537,912 | 0.45 | 2.67 | 0.49 | 2.63 | |||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.023 | (0.023 | ) | 1.00 | 2.33 | 268,622 | 0.70 | 2.44 | 0.74 | 2.40 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Net investment income and distributions from net investment income contain $0.002 and $(0.002), $0.001 and $(0.001) of realized capital gains and distributions from net realized gains for the years ended December 31, 2008 and December 31, 2007, respectively. |
(d) | Amount is less than $0.0005 per share. |
(e) | Annualized. |
(f) | Total return is less than 0.005%. |
The accompanying notes are an integral part of these financial statements.
76
Goldman Sachs Trust—Financial Square Funds
Financial Highlights (continued)
Selected Data for a Share Outstanding Throughout Each Period
Treasury Obligations Fund
Ratios assuming no | ||||||||||||||||||||||||||||||||||||||||
expense reductions | ||||||||||||||||||||||||||||||||||||||||
Ratio of net | Ratio of net | |||||||||||||||||||||||||||||||||||||||
investment | investment | |||||||||||||||||||||||||||||||||||||||
Net asset | Distributions | Net asset | Net assets | Ratio of net | income | Ratio of total | income | |||||||||||||||||||||||||||||||||
value, | Net | from net | value, | end | expenses to | (loss) to | expenses to | (loss) to | ||||||||||||||||||||||||||||||||
beginning | investment | investment | end | Total | of period | average net | average net | average net | average net | |||||||||||||||||||||||||||||||
Year—Share Class | of period | income(a) | income | of period | return(b) | (in 000’s) | assets | assets | assets | assets | ||||||||||||||||||||||||||||||
FOR THE PERIOD JANUARY 1 TO FEBRUARY 28, 2009*, (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||
2009-FST Shares | $ | 1.00 | $ | 0.001 | $ | (0.001 | ) | $ | 1.00 | 0.06 | % | $ | 17,019,904 | 0.20 | %(d) | 0.21 | %(d) | 0.23 | %(d) | 0.18 | %(d) | |||||||||||||||||||
2009-FST Select Shares | 1.00 | 0.001 | (0.001 | ) | 1.00 | 0.05 | 49,487 | 0.23 | (d) | 0.18 | (d) | 0.26 | (d) | 0.15 | (d) | |||||||||||||||||||||||||
2009-FST Preferred Shares | 1.00 | — | (c) | — | (c) | 1.00 | 0.04 | 320,178 | 0.30 | (d) | 0.11 | (d) | 0.33 | (d) | 0.08 | (d) | ||||||||||||||||||||||||
2009-FST Capital Shares | 1.00 | — | (c) | — | (c) | 1.00 | 0.03 | 435,257 | 0.35 | (d) | 0.06 | (d) | 0.38 | (d) | 0.03 | (d) | ||||||||||||||||||||||||
2009-FST Administration Shares | 1.00 | — | (c) | — | (c) | 1.00 | 0.02 | 2,564,136 | 0.45 | (d) | (0.04 | )(d) | 0.48 | (d) | (0.07 | )(d) | ||||||||||||||||||||||||
2009-FST Service Shares | 1.00 | — | (c) | — | (c) | 1.00 | — | (e) | 1,274,366 | 0.53 | (d) | (0.12 | )(d) | 0.73 | (d) | (0.32 | )(d) | |||||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||||||||||||||||||
2008-FST Shares | 1.00 | 0.016 | (0.016 | ) | 1.00 | 1.64 | 12,010,372 | 0.21 | 1.51 | 0.24 | 1.48 | |||||||||||||||||||||||||||||
2008-FST Select Shares | 1.00 | 0.016 | (0.016 | ) | 1.00 | 1.61 | 32,927 | 0.24 | 0.42 | 0.27 | 0.39 | |||||||||||||||||||||||||||||
2008-FST Preferred Shares | 1.00 | 0.015 | (0.015 | ) | 1.00 | 1.54 | 246,788 | 0.31 | 1.46 | 0.34 | 1.43 | |||||||||||||||||||||||||||||
2008-FST Capital Shares | 1.00 | 0.015 | (0.015 | ) | 1.00 | 1.49 | 360,461 | 0.36 | 1.30 | 0.39 | 1.27 | |||||||||||||||||||||||||||||
2008-FST Administration Shares | 1.00 | 0.014 | (0.014 | ) | 1.00 | 1.39 | 1,995,689 | 0.46 | 1.40 | 0.49 | 1.37 | |||||||||||||||||||||||||||||
2008-FST Service Shares | 1.00 | 0.012 | (0.012 | ) | 1.00 | 1.17 | 1,357,797 | 0.67 | 1.17 | 0.74 | 1.10 | |||||||||||||||||||||||||||||
2007-FST Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.80 | 11,652,689 | 0.20 | 4.32 | 0.24 | 4.28 | |||||||||||||||||||||||||||||
2007-FST Select Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.77 | 26 | 0.23 | 4.62 | 0.27 | 4.58 | |||||||||||||||||||||||||||||
2007-FST Preferred Shares | 1.00 | 0.046 | (0.046 | ) | 1.00 | 4.70 | 646,792 | 0.30 | 4.52 | 0.34 | 4.48 | |||||||||||||||||||||||||||||
2007-FST Capital Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.65 | 318,665 | 0.35 | 4.39 | 0.39 | 4.35 | |||||||||||||||||||||||||||||
2007-FST Administration Shares | 1.00 | 0.044 | (0.044 | ) | 1.00 | 4.54 | 2,787,538 | 0.45 | 4.44 | 0.49 | 4.40 | |||||||||||||||||||||||||||||
2007-FST Service Shares | 1.00 | 0.042 | (0.042 | ) | 1.00 | 4.28 | 1,837,123 | 0.70 | 4.19 | 0.74 | 4.15 | |||||||||||||||||||||||||||||
2006-FST Shares | 1.00 | 0.048 | (0.048 | ) | 1.00 | 4.86 | 1,855,829 | 0.20 | 4.79 | 0.24 | 4.75 | |||||||||||||||||||||||||||||
2006-FST Select Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.83 | 4 | 0.23 | 4.75 | 0.27 | 4.71 | |||||||||||||||||||||||||||||
2006-FST Preferred Shares | 1.00 | 0.047 | (0.047 | ) | 1.00 | 4.76 | 776,080 | 0.30 | 4.69 | 0.34 | 4.65 | |||||||||||||||||||||||||||||
2006-FST Capital Shares | 1.00 | 0.046 | (0.046 | ) | 1.00 | 4.71 | 90,897 | 0.35 | 4.79 | 0.39 | 4.75 | |||||||||||||||||||||||||||||
2006-FST Administration Shares | 1.00 | 0.045 | (0.045 | ) | 1.00 | 4.60 | 2,353,384 | 0.45 | 4.55 | 0.49 | 4.51 | |||||||||||||||||||||||||||||
2006-FST Service Shares | 1.00 | 0.043 | (0.043 | ) | 1.00 | 4.34 | 1,821,459 | 0.70 | 4.31 | 0.74 | 4.27 | |||||||||||||||||||||||||||||
2005-FST Shares | 1.00 | 0.030 | (0.030 | ) | 1.00 | 3.00 | 1,633,047 | 0.20 | 3.00 | 0.23 | 2.97 | |||||||||||||||||||||||||||||
2005-FST Select Shares | 1.00 | 0.030 | (0.030 | ) | 1.00 | 2.97 | 3 | 0.23 | 3.83 | 0.26 | 3.80 | |||||||||||||||||||||||||||||
2005-FST Preferred Shares | 1.00 | 0.029 | (0.029 | ) | 1.00 | 2.90 | 669,177 | 0.30 | 2.97 | 0.33 | 2.94 | |||||||||||||||||||||||||||||
2005-FST Capital Shares | 1.00 | 0.028 | (0.028 | ) | 1.00 | 2.85 | 1,926 | 0.35 | 2.73 | 0.38 | 2.70 | |||||||||||||||||||||||||||||
2005-FST Administration Shares | 1.00 | 0.027 | (0.027 | ) | 1.00 | 2.75 | 1,856,730 | 0.45 | 2.78 | 0.48 | 2.75 | |||||||||||||||||||||||||||||
2005-FST Service Shares | 1.00 | 0.025 | (0.025 | ) | 1.00 | 2.49 | 1,036,131 | 0.70 | 2.55 | 0.73 | 2.52 | |||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||
* | The Fund changed its fiscal year end from December 31 to August 31. |
(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. Total returns for periods less than one full year are not annualized. |
(c) | Amount is less than $0.0005 per share. |
(d) | Annualized. |
(e) | Total return is less than 0.005%. |
The accompanying notes are an integral part of these financial statements.
77
Goldman Sachs Trust—Financial Square Funds |
Fund Expenses — Six Month Period Ended February 28, 2009 (Unaudited)
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, service and/or shareholder administration fees 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 September 1, 2008 through February 28, 2009.
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 column 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 net 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.
Federal Fund | Government Fund | Money Market Fund | Prime Obligations Fund | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses | Expenses | Expenses | Expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid for | Paid for | Paid for | Paid for | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | the | Beginning | Ending | the | Beginning | Ending | the | Beginning | Ending | the | |||||||||||||||||||||||||||||||||||||||||||||||||
Account | Account | 6 months | Account | Account | 6 months | Account | Account | 6 months | Account | Account | 6 months | |||||||||||||||||||||||||||||||||||||||||||||||||
Value | Value | ended | Value | Value | ended | Value | Value | ended | Value | Value | ended | |||||||||||||||||||||||||||||||||||||||||||||||||
Share Class | 9/1/08 | 2/28/09 | 2/28/09* | 9/1/08 | 2/28/09 | 2/28/09* | 9/1/08 | 2/28/09 | 2/28/09* | 9/1/08 | 2/28/09 | 2/28/09* | ||||||||||||||||||||||||||||||||||||||||||||||||
FST Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,007.10 | $ | 1.13 | $ | 1,000.00 | $ | 1,007.20 | $ | 1.01 | $ | 1,000.00 | $ | 1,008.50 | $ | 1.09 | $ | 1,000.00 | $ | 1,008.00 | $ | 1.18 | ||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.67 | + | 1.14 | 1,000.00 | 1,023.79 | + | 1.01 | 1,000.00 | 1,023.71 | + | 1.09 | 1,000.00 | 1,023.62 | + | 1.18 | ||||||||||||||||||||||||||||||||||||||||||||
FST Select Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,006.90 | 1.28 | 1,000.00 | 1,007.10 | 1.14 | 1,000.00 | 1,008.40 | 1.23 | 1,000.00 | 1,007.90 | 1.30 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.52 | + | 1.29 | 1,000.00 | 1,023.66 | + | 1.15 | 1,000.00 | 1,023.57 | + | 1.24 | 1,000.00 | 1,023.49 | + | 1.31 | ||||||||||||||||||||||||||||||||||||||||||||
FST Preferred Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,006.60 | 1.63 | 1,000.00 | 1,006.70 | 1.50 | 1,000.00 | 1,008.00 | 1.59 | 1,000.00 | 1,007.50 | 1.67 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.17 | + | 1.64 | 1,000.00 | 1,023.30 | + | 1.51 | 1,000.00 | 1,023.22 | + | 1.60 | 1,000.00 | 1,023.13 | + | 1.69 | ||||||||||||||||||||||||||||||||||||||||||||
FST Capital Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,006.30 | 1.89 | 1,000.00 | 1,006.50 | 1.75 | 1,000.00 | 1,007.80 | 1.86 | 1,000.00 | 1,007.30 | 1.95 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.91 | + | 1.90 | 1,000.00 | 1,023.05 | + | 1.76 | 1,000.00 | 1,022.94 | + | 1.87 | 1,000.00 | 1,022.85 | + | 1.97 | ||||||||||||||||||||||||||||||||||||||||||||
FST Administration Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,005.80 | 2.37 | 1,000.00 | 1,006.00 | 2.25 | 1,000.00 | 1,007.30 | 2.34 | 1,000.00 | 1,006.80 | 2.45 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.43 | + | 2.39 | 1,000.00 | 1,022.55 | + | 2.27 | 1,000.00 | 1,022.46 | + | 2.36 | 1,000.00 | 1,022.35 | + | 2.47 | ||||||||||||||||||||||||||||||||||||||||||||
FST Service Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,004.60 | 3.57 | 1,000.00 | 1,004.80 | 3.49 | 1,000.00 | 1,006.00 | 3.59 | 1,000.00 | 1,005.50 | 3.53 | ||||||||||||||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,021.24 | + | 3.66 | 1,000.00 | 1,021.31 | + | 3.55 | 1,000.00 | 1,021.22 | + | 3.65 | 1,000.00 | 1,021.12 | + | 3.56 | ||||||||||||||||||||||||||||||||||||||||||||
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Tax-Free Money Market Fund | Treasury Instruments Fund | Treasury Obligations Fund | |||||||||||||||||||||||||||||||||||||||||||
Expenses | Expenses | Expenses | |||||||||||||||||||||||||||||||||||||||||||
Paid for | Paid for | Paid for | |||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | the | Beginning | Ending | the | Beginning | Ending | the | |||||||||||||||||||||||||||||||||||||
Account | Account | 6 months | Account | Account | 6 months | Account | Account | 6 months | |||||||||||||||||||||||||||||||||||||
Value | Value | ended | Value | Value | ended | Value | Value | ended | |||||||||||||||||||||||||||||||||||||
Share Class | 9/1/08 | 2/28/09 | 2/28/09* | 9/1/08 | 2/28/09 | 2/28/09* | 9/1/08 | 2/28/09 | 2/28/09* | ||||||||||||||||||||||||||||||||||||
FST Shares | |||||||||||||||||||||||||||||||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,007.40 | $ | 1.06 | $ | 1,000.00 | $ | 1,003.80 | $ | 1.06 | $ | 1,000.00 | $ | 1,002.80 | $ | 1.10 | |||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.73 | + | 1.07 | 1,000.00 | 1,023.74 | + | 1.07 | 1,000.00 | 1,023.70 | + | 1.11 | |||||||||||||||||||||||||||||||||
FST Select Shares | |||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,007.20 | 1.21 | 1,000.00 | 1,003.60 | 1.20 | 1,000.00 | 1,002.70 | 1.25 | ||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.59 | + | 1.22 | 1,000.00 | 1,023.60 | + | 1.21 | 1,000.00 | 1,023.54 | + | 1.27 | |||||||||||||||||||||||||||||||||
FST Preferred Shares | |||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,006.90 | 1.56 | 1,000.00 | 1,003.30 | 1.55 | 1,000.00 | 1,002.30 | 1.60 | ||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,023.24 | + | 1.57 | 1,000.00 | 1,023.24 | + | 1.57 | 1,000.00 | 1,023.19 | + | 1.62 | |||||||||||||||||||||||||||||||||
FST Capital Shares | |||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,006.60 | 1.82 | 1,000.00 | 1,003.00 | 1.81 | 1,000.00 | 1,002.10 | 1.85 | ||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.98 | + | 1.83 | 1,000.00 | 1,022.99 | + | 1.83 | 1,000.00 | 1,022.95 | + | 1.87 | |||||||||||||||||||||||||||||||||
FST Administration Shares | |||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,006.10 | 2.30 | 1,000.00 | 1,002.60 | 2.23 | 1,000.00 | 1,001.60 | 2.31 | ||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,022.50 | + | 2.32 | 1,000.00 | 1,022.56 | + | 2.26 | 1,000.00 | 1,022.48 | + | 2.34 | |||||||||||||||||||||||||||||||||
FST Service Shares | |||||||||||||||||||||||||||||||||||||||||||||
Actual | 1,000.00 | 1,004.90 | 3.43 | 1,000.00 | 1,001.90 | 2.28 | 1,000.00 | 1,000.90 | 2.63 | ||||||||||||||||||||||||||||||||||||
Hypothetical 5% return | 1,000.00 | 1,021.29 | + | 3.46 | 1,000.00 | 1,021.81 | + | 2.31 | 1,000.00 | 1,021.83 | + | 2.66 | |||||||||||||||||||||||||||||||||
* | Expenses for each share class are calculated using the Funds’ annualized net expense ratio for each class, which represents the ongoing expenses as a percentage of net assets for the six months ended February 28, 2009. Expenses are calculated by multiplying the annualized net 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. 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 | ||||||||||||||||||
Federal | 0.23 | % | 0.26 | % | 0.33 | % | 0.38 | % | 0.48 | % | 0.73 | % | ||||||||||||
Government | 0.20 | 0.23 | 0.30 | 0.35 | 0.45 | 0.70 | ||||||||||||||||||
Money Market | 0.22 | 0.25 | 0.32 | 0.37 | 0.47 | 0.72 | ||||||||||||||||||
Prime Obligations | 0.21 | 0.24 | 0.31 | 0.36 | 0.46 | 0.71 | ||||||||||||||||||
Tax-Free Money Market | 0.23 | 0.26 | 0.33 | 0.38 | 0.48 | 0.69 | ||||||||||||||||||
Treasury Instruments | 0.20 | 0.23 | 0.30 | 0.35 | 0.40 | 0.46 | ||||||||||||||||||
Treasury Obligations | 0.20 | 0.23 | 0.30 | 0.35 | 0.45 | 0.53 | ||||||||||||||||||
+ | Hypothetical expenses are based on each Fund’s actual annualized net expense ratios and an assumed rate of return of 5% per year before expenses. |
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The reports concerning the Funds included in this shareholder report may contain certain forward-looking statements about the factors that may affect the performance of the Funds in the future. These statements are based on Fund management’s predictions and expectations concerning certain future events and their expected impact on the Funds, such as performance of the economy as a whole and of specific industry sectors, changes in the levels of interest rates, the impact of developing world events, and other factors that may influence the future performance of the Funds. Management believes these forward-looking statements to be reasonable, although they are inherently uncertain and difficult to predict. Actual events may cause adjustments in portfolio management strategies from those currently expected to be employed.
A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities and information regarding how a Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available (I) without charge, upon request by calling 1-800-621-2550; and (II) on the Securities and Exchange Commission (“SEC”) Web site at http://www.sec.gov.
The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q is available on the SEC’s website at http://www.sec.gov within 60 days after the Funds’ first and third fiscal quarters. The Funds’ Form N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. and information on the operation of the Public Reference Room may also be obtained by calling 1-800-SEC-0330. Forms N-Q may be obtained upon request and without charge by calling 1-800-621-2550.
The Standardized 7-Day Current Yield is calculated in accordance with securities industry regulations and does not include capital gains. The Standardized 7-Day Current Yield may differ slightly from the actual distribution rate of a given portfolio because of the exclusion of distributed capital gains, which are non-recurring.
The Standardized 7-Day Effective Yield is calculated in accordance with securities industry regulations and does not include capital gains. The Standardized 7-Day Effective Yield assumes reinvestment of dividends for one year.
The 30-Day Current Yield is calculated in accordance with securities industry regulations and does not include capital gains. The Standardized 30-Day Current Yield may differ slightly from the actual distribution rate of a given portfolio because of the exclusion of distributed capital gains, which are non-recurring.
Holdings and allocations shown may not be representative of current or future investments. Holdings and allocations may not include the Fund’s entire investment portfolio, which may change at any time. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities.
This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Investors should consider a fund’s objectives, risks, and charges and expenses, and read the prospectus carefully before investing or sending money. The prospectus contains this and other information about the Funds.
Goldman, Sachs & Co. is the distributor of the Goldman Sachs Funds.
Copyright 2009 Goldman, Sachs & Co. All rights reserved. | 09-20771.MF.TMPL / 257K / 04-09 |
TRUSTEES
Ashok N. Bakhru, Chairman
John P. Coblentz, Jr.
Diana M. Daniels
Patrick T. Harker
James A. McNamara
Jessica Palmer
Alan A. Shuch
Richard P. Strubel
James A. McNamara, President
John M. Perlowski, Senior Vice President and Treasurer
Peter V. Bonanno, Secretary
Distributor and Transfer Agent
Investment Adviser
FSQ/SAR 02/09 | Goldman Sachs Funds 32 Old Slip New York, NY 10005 |
ITEM 2. | CODE OF ETHICS. |
(a) | The information required by this Item is only required in an annual report on this Form N-CSR. | ||
(b) | During the period covered by this report, no amendments were made to the provisions of the Code of Ethics. | ||
(c) | During the period covered by this report, the registrant did not grant any waivers, including an implicit waiver, from any provision of the Code of Ethics. | ||
(d) | A copy of the Code of Ethics is available as provided in Item 12(a)(1) of this report. | ||
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
The information required by this Item is only required in an annual report on this Form N-CSR.
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
The information required by this Item is only required in an annual report on this Form N-CSR.
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. | |
The information required by this Item is only required in an annual report on this Form N-CSR. |
ITEM 6. | SCHEDULE OF INVESTMENTS. | |
The Schedule of Investments is included as part of the Semi-Annual Report to Stockholders filed under Item 1 of this Form N-CSR. |
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 have materially affected, or are 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, as amended, and the Investment Company Act of 1940, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
Goldman Sachs Trust | ||||||
By: | /s/ James A. McNamara | |||||
James A. McNamara | ||||||
President/Principal Executive Officer | ||||||
Goldman Sachs Trust | ||||||
Date: | May 6, 2009 |
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, 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/ James A. McNamara | |||||
James A. McNamara | ||||||
President/Principal Executive Officer | ||||||
Goldman Sachs Trust | ||||||
Date: | May 6, 2009 | |||||
By: | /s/ John M. Perlowski | |||||
John M. Perlowski | ||||||
Treasurer/Principal Financial Officer | ||||||
Goldman Sachs Trust | ||||||
Date: | May 6, 2009 |