United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-5950
(Investment Company Act File Number)
Federated Hermes Money Market Obligations Trust
______________________________________________________________
(Exact Name of Registrant as Specified in Charter)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
Peter J. Germain, Esquire
1001 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
(Notices should be sent to the Agent for Service)
Date of Fiscal Year End: 5/31/22
Date of Reporting Period: Six months ended 11/30/21
Item 1. | Reports to Stockholders |
![](https://capedge.com/proxy/N-CSRS/0001623632-22-000064/imgdcb9fb8c1.gif)
Share Class | Ticker | Automated | MOTXX | Investment | MOIXX | Wealth | MOFXX |
Service | MOSXX | Cash II | MODXX | Cash Series | MFSXX | |
Capital | MFCXX |
Federated Hermes Municipal Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-22-000064/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 74.0% |
Municipal Notes | 20.3% |
Commercial Paper | 6.2% |
Other Assets and Liabilities—Net2 | (0.5)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 67.6% |
8-30 Days | 3.9% |
31-90 Days | 15.6% |
91-180 Days | 3.6% |
181 Days or more | 9.8% |
Other Assets and Liabilities—Net2 | (0.5)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.4% | ||
Alabama— 3.7% | |||
$ 1,000,000 | Autauga County, AL IDA (Marshall Prattville, LLC), (Series 2008) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.100%, 12/2/2021 | $1,000,000 | |
5,650,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 1998) Daily VRDNs, 0.060%, 12/1/2021 | 5,650,000 | |
3,100,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-A) Daily VRDNs, 0.050%, 12/1/2021 | 3,100,000 | |
31,600,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 0.050%, 12/1/2021 | 31,600,000 | |
3,100,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series C) Daily VRDNs, 0.050%, 12/1/2021 | 3,100,000 | |
3,275,000 | Cooperative District of Fort Spanish, AL, Tender Option Bond Trust Receipts (Series 2021-XF2958) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 3,275,000 | |
10,480,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2007) Weekly VRDNs, (Comerica Bank LOC), 0.100%, 12/2/2021 | 10,480,000 | |
10,000,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2011) Weekly VRDNs, (Comerica Bank LOC), 0.100%, 12/2/2021 | 10,000,000 | |
5,175,000 | Mobile, AL IDB (Alabama Power Co.), (Series 2001-A) Daily VRDNs, 0.070%, 12/1/2021 | 5,175,000 | |
25,700,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 0.140%, 12/1/2021 | 25,700,000 | |
TOTAL | 99,080,000 | ||
Arizona— 0.2% | |||
5,610,000 | Maricopa County, AZ, IDA (Redman Homes, Inc.), (Series 1999) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.210%, 12/2/2021 | 5,610,000 | |
Arkansas— 0.4% | |||
1,800,000 | Blytheville, AR (Nucor Corp.), (Series 2002) Weekly VRDNs, 0.100%, 12/1/2021 | 1,800,000 | |
3,830,000 | Lowell, AR IDRB (Arkansas Democrat-Gazette, Inc.), (Series 2006) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.170%, 12/1/2021 | 3,830,000 | |
5,800,000 | Lowell, AR IDRB (Little Rock Newspapers, Inc.), (Series 1996) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.170%, 12/1/2021 | 5,800,000 | |
TOTAL | 11,430,000 | ||
California— 10.9% | |||
2,485,000 | Alameda County, CA IDA (Santini Foods, Inc.), (Series 2010A) Weekly VRDNs, (Comerica Bank LOC), 0.080%, 12/2/2021 | 2,485,000 | |
4,910,000 | California Enterprise Development Authority (J. Harris Industrial Water Treatment, Inc.), (Series 2015) Weekly VRDNs, (City National Bank LOC), 0.130%, 12/2/2021 | 4,910,000 | |
3,800,000 | California Enterprise Development Authority (Regional Properties, Inc.), (Series 2010: Recovery Zone Facility) Weekly VRDNs, (FHLB of San Francisco LOC), 0.080%, 12/2/2021 | 3,800,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 20,000,000 | California Health Facilities Financing Authority (Dignity Health (Catholic Healthcare West)), Golden Blue (Series 2017-004) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | $20,000,000 | |
26,705,000 | California Health Facilities Financing Authority (Kaiser Permanente), (Series 2006E), CP, 0.110%, Mandatory Tender 2/9/2022 | 26,705,000 | |
1,070,000 | California HFA Multi-Family (Hope on Broadway LP), Tender Option Bond Trust Receipts (2021-XF2928) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,070,000 | |
39,405,000 | California Infrastructure & Economic Development Bank (DesertXpress Enterprises, LLC), (Series 2020A: Brightline West Passenger Rail) TOBs, (United States Treasury GTD), 0.200%, Mandatory Tender 2/1/2022 | 39,405,000 | |
2,000,000 | California PCFA (C.A. and E.J. Vanderham Family Trust), (Series 2003) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 2,000,000 | |
3,000,000 | California PCFA (P & D Dairy and Poso Creek Family Dairy, LLC), (Series 2003) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 0.100%, 12/2/2021 | 3,000,000 | |
30,000,000 | California PCFA (Sierra Pacific Industries), (Series 2014) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.130%, 12/1/2021 | 30,000,000 | |
2,940,000 | California PCFA (T & W Farms), (Series 2002) Weekly VRDNs, (Bank of America N.A. LOC), 0.100%, 12/2/2021 | 2,940,000 | |
3,190,000 | California Statewide Communities Development Authority (Essex Monarch La Brea Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9012) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,190,000 | |
12,000,000 | California Statewide Communities Development Authority (Essex Monarch Santa Monica Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9011) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 12,000,000 | |
9,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.120%, Mandatory Tender 3/3/2022 | 9,000,000 | |
17,190,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 0.170%, Mandatory Tender 12/7/2021 | 17,190,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009 B-6), CP, 0.110%, Mandatory Tender 2/2/2022 | 10,000,000 | |
15,530,000 | California Statewide Communities Development Authority Multi-Family Housing (Uptown Newport Building Owner, LP), (2021 Series A: One Uptown Newport Apartments) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.110%, 12/2/2021 | 15,530,000 | |
4,985,000 | Lucia Mar, CA USD, Tender Option Bond Trust Receipts (Series 2018-XG0181) Weekly VRDNs, (Bank of America N.A. LIQ), 0.080%, 12/2/2021 | 4,985,000 | |
6,670,000 | Manteca, CA USD, Tender Option Bond Trust Certificates (2015-ZM0093) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.090%, 12/2/2021 | 6,670,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 34,000,000 | Nuveen California Quality Municipal Income Fund, PUTTERs 3a-7 (Series 5038) (VRDP Series 5) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.200%, 12/1/2021 | $34,000,000 | |
2,900,000 | Sacramento, CA Municipal Utility District, Tender Option Bond Trust Receipts (Series 2020-ZF0943) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.070%, 12/2/2021 | 2,900,000 | |
31,130,000 | San Francisco, CA City and County (Transbay Block 8 Tower Apartments Obligated Group), Mizuho 3a-7 (2021-MIZ9063) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 31,130,000 | |
9,550,000 | Santa Clara Valley, CA Transportation Authority (2000 Measure A Sales Tax), (2008 Series A) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.060%, 12/2/2021 | 9,550,000 | |
TOTAL | 292,460,000 | ||
Colorado— 0.7% | |||
3,300,000 | Colorado Agricultural Development Authority (Monte Vista Dairy, LLC), (Series 2006) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 3,300,000 | |
4,615,000 | Colorado HFA (Acme Manufacturing Company, Inc.), (Series 2016A) Weekly VRDNs, (UMB Bank, N.A. LOC), 0.240%, 12/2/2021 | 4,615,000 | |
1,370,000 | Colorado HFA (Class I Bonds) (Xybix Systems, Inc.), (Series 2007) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.200%, 12/2/2021 | 1,370,000 | |
1,370,000 | Colorado HFA (Popiel Properties LLC), (Series 2004A) Weekly VRDNs, (UMB Bank, N.A. LOC), 0.290%, 12/2/2021 | 1,370,000 | |
3,000,000 | Denver, CO City & County Airport Authority, RBC Muni Products (Series G-114) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.300%, Optional Tender 12/1/2021 | 3,000,000 | |
2,185,000 | Denver, CO City & County Airport Authority, Tender Option Bond Trust Receipts (Series 2018-ZF0689) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.120%, 12/2/2021 | 2,185,000 | |
1,835,000 | Denver, CO City & County Airport Authority, Tender Option Bond Trust Receipts (Series 2018-ZF0691) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.120%, 12/2/2021 | 1,835,000 | |
TOTAL | 17,675,000 | ||
Connecticut— 0.7% | |||
8,000,000 | Connecticut State Special Transportation Fund, RBC Muni Products (Series G-110) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.230%, Optional Tender 4/1/2022 | 8,000,000 | |
10,280,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 10,280,000 | |
TOTAL | 18,280,000 | ||
Florida— 1.3% | |||
6,000,000 | Broward County, FL Port Facilities, RBC Municipal Products Trust (Series G-115) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.300%, Optional Tender 3/1/2022 | 6,000,000 | |
4,000,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.), (First Series 2009) Daily VRDNs, 0.050%, 12/1/2021 | 4,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— continued | |||
$ 1,440,000 | Florida Development Finance Corp. (Navigator Academy of Leadership, Inc.), Tender Option Bond Trust Receipts (2021-XF2945) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | $1,440,000 | |
9,000,000 | Greater Orlando, FL Aviation Authority, (RBC Muni Products Series G-25) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.300%, Optional Tender 4/1/2022 | 9,000,000 | |
5,000,000 | Hillsborough County, FL Solid Waste & Resource Recovery, RBC Muni Products (Series G-41) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 3/1/2022 | 5,000,000 | |
8,115,000 | Lee County, FL IDA (Florida Power & Light Co.), (Series 2016A) Daily VRDNs, 0.060%, 12/1/2021 | 8,115,000 | |
2,500,000 | Miami-Dade County, FL HFA (Cordoba FL TC, LP), Mizuho 3a-7 (2021-MIZ9072) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 2,500,000 | |
TOTAL | 36,055,000 | ||
Georgia— 4.4% | |||
1,000,000 | Atlanta, GA Airport General Revenue, Tender Option Bond Receipts (Series 2019-XF0815) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 12/2/2021 | 1,000,000 | |
4,400,000 | Burke County, GA Development Authority (Georgia Power Co.), (1st Series 2009) Daily VRDNs, 0.080%, 12/1/2021 | 4,400,000 | |
5,155,000 | Burke County, GA Development Authority (Georgia Power Co.), (2018 1st Series) Daily VRDNs, 0.070%, 12/1/2021 | 5,155,000 | |
10,000,000 | Columbus, GA Development Authority (Lumpkin Park Partners, Ltd.), (Series 2008) Weekly VRDNs, (FHLMC LOC), 0.150%, 12/2/2021 | 10,000,000 | |
420,000 | Fitzgerald & Ben Hill County, GA Development Authority (Agri-Products, Inc.), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.100%, 12/2/2021 | 420,000 | |
2,500,000 | Floyd County, GA Development Authority PCRB (Georgia Power Co.), (First Series 1996) Daily VRDNs, 0.090%, 12/1/2021 | 2,500,000 | |
9,900,000 | Heard County, GA Development Authority (Georgia Power Co.), (First Series 2007) Daily VRDNs, 0.070%, 12/1/2021 | 9,900,000 | |
3,800,000 | Monroe County, GA Development Authority (Gulf Power Co.), (Series 2019) Daily VRDNs, 0.060%, 12/1/2021 | 3,800,000 | |
7,100,000 | Monroe County, GA Development Authority Pollution Control (Georgia Power Co.), (First Series 2008) Daily VRDNs, 0.090%, 12/1/2021 | 7,100,000 | |
2,075,000 | Savannah, GA EDA (Consolidated Utilities, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 0.180%, 12/2/2021 | 2,075,000 | |
68,000,000 | Savannah, GA EDA (Home Depot, Inc.), (Series 1995A) Weekly VRDNs, 0.190%, 12/1/2021 | 68,000,000 | |
2,315,000 | Wayne County, GA, IDA (Sierra International Machinery LLC), (Series 2011) Weekly VRDNs, (Truist Bank LOC), 0.180%, 12/2/2021 | 2,315,000 | |
TOTAL | 116,665,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Hawaii— 0.2% | |||
$ 6,540,000 | Hawaii State Department of Budget & Finance (Queen’s Health Systems), (2015 Series C) VRENs, 0.500%, 12/2/2021 | $6,540,000 | |
Illinois— 1.5% | |||
13,400,000 | Chicago, IL Midway Airport, (Series 2014C) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 12/2/2021 | 13,400,000 | |
4,680,000 | Chicago, IL O’Hare International Airport, Tender Option Bond Trust Receipts (Series 2018-XM0686) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.130%, 12/2/2021 | 4,680,000 | |
4,600,000 | Illinois Finance Authority - Solid Waste (Kuusakoski US LLC), (Series 2013) Weekly VRDNs, (Nordea Bank Abp LOC), 0.100%, 12/2/2021 | 4,600,000 | |
18,185,000 | Metropolitan Pier & Exposition Authority, IL, Tender Option Bond Trust Receipts (2021-MS0001) TOBs, (Morgan Stanley Bank, N.A. LIQ)/(Morgan Stanley Bank, N.A. LOC), 0.170%, Optional Tender 2/3/2022 | 18,185,000 | |
TOTAL | 40,865,000 | ||
Indiana— 1.8% | |||
6,050,000 | Bloomington, IN EDRB (SY Henderson Court Investors, LP), (Series 2008: Henderson Court Apartments) Weekly VRDNs, (FHLMC LOC), 0.150%, 12/2/2021 | 6,050,000 | |
8,000,000 | Indiana Development Finance Authority (Duke Energy Indiana, Inc.), (Series 2003A) Weekly VRDNs, 0.100%, 12/1/2021 | 8,000,000 | |
400,000 | Indiana Development Finance Authority (South Central Community Mental Health Centers, Inc.), D/B/A Center for Behavioral Health (Series 2002) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.200%, 12/2/2021 | 400,000 | |
21,370,000 | Indiana State Finance Authority (Indiana State), Stage Trust (Series 2020-004) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 21,370,000 | |
12,900,000 | Indianapolis, IN Multifamily Housing (Pedcor Investments-2006- LXXXVIII LP), (Series 2007A: Forest Ridge Apartments) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.150%, 12/2/2021 | 12,900,000 | |
TOTAL | 48,720,000 | ||
Iowa— 0.9% | |||
19,000,000 | Iowa Finance Authority (Cargill, Inc.), (Series 2021) Weekly VRDNs, 0.110%, 12/2/2021 | 19,000,000 | |
5,300,000 | Iowa Finance Authority (Five Star Holdings LLC), (Series 2007) Weekly VRDNs, (AgriBank FCB LOC), 0.100%, 12/2/2021 | 5,300,000 | |
TOTAL | 24,300,000 | ||
Kansas— 1.0% | |||
5,000,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007A) Weekly VRDNs, 0.140%, 12/1/2021 | 5,000,000 | |
21,000,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007B) Weekly VRDNs, 0.140%, 12/1/2021 | 21,000,000 | |
TOTAL | 26,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Kentucky— 3.7% | |||
$ 6,500,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 5/2/2022 | $6,500,000 | |
1,800,000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), (1999 Series A) Daily VRDNs, (United Parcel Service, Inc. GTD), 0.060%, 12/1/2021 | 1,800,000 | |
21,200,000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), (1999 Series B) Daily VRDNs, (United Parcel Service, Inc. GTD), 0.070%, 12/1/2021 | 21,200,000 | |
34,400,000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), Revenue Bonds (Series C) Daily VRDNs, (United Parcel Service, Inc. GTD), 0.070%, 12/1/2021 | 34,400,000 | |
16,700,000 | Meade County, KY Industrial Building Revenue Authority (Nucor Corp.), (Series 2021A-1) Daily VRDNs, 0.070%, 12/1/2021 | 16,700,000 | |
17,795,000 | Meade County, KY Industrial Building Revenue Authority (Nucor Corp.), (Series 2021B-1) Daily VRDNs, 0.050%, 12/1/2021 | 17,795,000 | |
TOTAL | 98,395,000 | ||
Louisiana— 0.1% | |||
3,790,000 | Louisiana State Housing Corporation (Peace Lake Louisiana Tower Community L.P.), Tender Option Bond Trust Floater Certificates (Series 2020-MIZ9053) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,790,000 | |
Maine— 0.8% | |||
22,260,000 | Old Town, ME (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 0.120%, 12/1/2021 | 22,260,000 | |
Maryland— 0.2% | |||
5,000,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 5,000,000 | |
Massachusetts— 3.9% | |||
10,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 0.140%, Mandatory Tender 12/8/2021 | 10,000,000 | |
28,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 0.200%, Mandatory Tender 1/13/2022 | 28,000,000 | |
30,348,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.130%, Mandatory Tender 12/14/2021 | 30,348,000 | |
4,100,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.130%, Mandatory Tender 12/8/2021 | 4,100,000 | |
31,265,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.180%, Mandatory Tender 1/13/2022 | 31,265,000 | |
TOTAL | 103,713,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Michigan— 0.6% | |||
$ 1,800,000 | Michigan State Strategic Fund (Universal Forest Products Eastern Division, Inc.), Series 2002 Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.150%, 12/2/2021 | $1,800,000 | |
5,250,000 | Michigan Strategic Fund (Greenville Venture Partners LLC), (Series 2018) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 5,250,000 | |
8,000,000 | Wayne County, MI Airport Authority, Airport Revenue Refunding Bonds (Series 2011A-B), 5.000%, 12/1/2021 | 8,000,000 | |
TOTAL | 15,050,000 | ||
Minnesota— 0.0% | |||
1,330,000 | St. Paul, MN Port Authority (National Checking Co.), IDRB’s (Series 1998A) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.240%, 12/2/2021 | 1,330,000 | |
Missouri— 0.6% | |||
15,000,000 | Kansas City, MO IDA (Kansas City, MO Airport Revenue), Tender Option Bond Trust Receipts (Series 2020-XL-150) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 15,000,000 | |
Montana— 0.0% | |||
1,105,000 | Montana State Board of Housing (HRDC IX Affordable Housing Solutions LP), Mizuho 3a-7 (2021-MIZ9062) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 1,105,000 | |
Multi-State— 25.9% | |||
52,000,000 | BlackRock MuniYield Quality Fund III, Inc., (3,564 Series W-7 VRDP Shares) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.140%, 12/2/2021 | 52,000,000 | |
178,500,000 | Invesco Municipal Opportunity Trust, PUTTERs 3a-7 (VMTP 5029) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 178,500,000 | |
89,200,000 | Invesco Value Municipal Income Trust, PUTTERs 3a-7 (VMTP 5027) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 89,200,000 | |
7,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Societe Generale, Paris LIQ), 0.110%, 12/2/2021 | 7,000,000 | |
75,000,000 | Nuveen Municipal Credit Income Fund, PUTTERs 3a-7 (Series 5039) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 75,000,000 | |
37,700,000 | Nuveen Municipal Credit Opportunities Fund, (Series A) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ), 0.160%, 12/2/2021 | 37,700,000 | |
102,275,000 | Nuveen Municipal Credit Opportunities Fund, PUTTERs 3a-7 (Series 5033) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 102,275,000 | |
40,800,000 | Nuveen Quality Municipal Income Fund, (Series 1) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.140%, 12/2/2021 | 40,800,000 | |
62,000,000 | Nuveen Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.140%, 12/2/2021 | 62,000,000 | |
47,400,000 | Nuveen Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.140%, 12/2/2021 | 47,400,000 | |
TOTAL | 691,875,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Nebraska— 0.4% | |||
$ 7,500,000 | Stanton County, NE (Nucor Corp.), (Series 1996) Weekly VRDNs, 0.100%, 12/1/2021 | $7,500,000 | |
1,875,000 | Stanton County, NE (Nucor Corp.), (Series 1998) Weekly VRDNs, 0.100%, 12/1/2021 | 1,875,000 | |
TOTAL | 9,375,000 | ||
Nevada— 0.2% | |||
1,395,000 | Director of the State of Nevada Department of Business and Industry (575 Mill Street LLC), IDRBs (Series 1998A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.220%, 12/2/2021 | 1,395,000 | |
4,500,000 | Director of the State of Nevada Department of Business and Industry (DesertXpress Enterprises, LLC), (Series 2020A: Brightline West Passenger Rail) TOBs, (United States Treasury GTD), 0.250%, Mandatory Tender 2/1/2022 | 4,500,000 | |
TOTAL | 5,895,000 | ||
New Jersey— 15.5% | |||
12,994,000 | Alexandria Township, NJ Board of Education BANs, 1.000%, 7/27/2022 | 13,056,531 | |
1,900,000 | Atlantic Highlands, NJ BANs, 1.000%, 3/1/2022 | 1,903,171 | |
4,492,300 | Berlin Boro, NJ BANs, 1.000%, 9/28/2022 | 4,520,384 | |
2,418,430 | Boonton Township, NJ BANs, 1.000%, 9/2/2022 | 2,432,241 | |
6,248,518 | Boonton, NJ BANs, 1.500%, 6/24/2022 | 6,292,246 | |
5,492,565 | Bound Brook Borough, NJ BANs, 1.000%, 8/18/2022 | 5,522,617 | |
1,030,300 | Byram Township, NJ BANs, 1.500%, 9/16/2022 | 1,040,383 | |
12,410,000 | Caldwell Borough, NJ BANs, 0.750%, 2/1/2022 | 12,422,739 | |
5,807,835 | Clementon, NJ BANs, 1.000%, 10/3/2022 | 5,844,746 | |
2,183,035 | Clinton, NJ BANs, 1.000%, 8/5/2022 | 2,194,085 | |
4,360,523 | Cranbury Township, NJ BANs, 1.000%, 9/3/2022 | 4,386,745 | |
5,000,000 | Cresskill Borough, NJ BANs, 1.000%, 10/14/2022 | 5,031,177 | |
5,546,324 | Demarest, NJ BANs, 1.000%, 6/24/2022 | 5,570,248 | |
2,696,515 | Dennis Township, NJ BANs, 1.000%, 6/17/2022 | 2,707,164 | |
7,904,276 | Eatontown, NJ BANs, 1.000%, 11/3/2022 | 7,947,845 | |
2,801,580 | Ewing Township, NJ BANs, 1.000%, 3/30/2022 | 2,807,946 | |
8,040,000 | Fairview, NJ BANs, 1.000%, 8/26/2022 | 8,087,120 | |
20,940,000 | Garden State Preservation Trust, NJ (New Jersey State), Tender Option Bond Trust Receipts (2016-ZF0416) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.130%, 12/2/2021 | 20,940,000 | |
1,094,250 | Gibbsboro, NJ BANs, 1.000%, 6/30/2022 | 1,098,982 | |
6,971,225 | Glassboro Borough, NJ, (Series A) BANs, 1.000%, 8/23/2022 | 7,011,624 | |
3,897,000 | Greenwich Township, NJ, (Series A) BANs, 1.000%, 4/27/2022 | 3,907,938 | |
12,600,000 | Guttenberg, NJ BANs, 1.000%, 10/20/2022 | 12,675,486 | |
6,000,000 | Hillsborough Township, NJ BANs, 1.500%, 2/17/2022 | 6,015,224 | |
3,800,540 | Hopatcong, NJ BANs, 1.000%, 7/22/2022 | 3,818,687 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 6,114,000 | Keyport Borough, NJ BANs, 1.000%, 3/8/2022 | $6,125,186 | |
6,063,000 | Lawrence Township, NJ BANs, 1.000%, 9/23/2022 | 6,101,745 | |
1,273,900 | Lebanon, NJ BANs, 1.000%, 9/13/2022 | 1,281,667 | |
5,188,000 | Logan Township, NJ BANs, 1.000%, 10/19/2022 | 5,219,900 | |
12,000,000 | Maple Shade Township, NJ BANs, 1.000%, 3/31/2022 | 12,034,030 | |
9,700,000 | Margate, NJ BANs, 1.000%, 12/16/2021 | 9,702,378 | |
2,563,303 | Merchantville, NJ, (Series A) BANs, 1.000%, 8/2/2022 | 2,575,606 | |
4,580,000 | Middle Township, NJ BANs, 1.000%, 9/8/2022 | 4,607,785 | |
7,832,673 | Middlesex, NJ, (Series A) BANs, 1.000%, 6/23/2022 | 7,865,418 | |
3,150,000 | Moonachie, NJ BANs, 1.000%, 10/14/2022 | 3,169,068 | |
7,040,000 | New Jersey Economic Development Authority (Yeshiva of North Jersey), (Series 2018) Weekly VRDNs, (Valley National Bank LOC), 0.350%, 12/2/2021 | 7,040,000 | |
2,740,000 | New Jersey EDA (Baptist Home Society of New Jersey) Weekly VRDNs, (Valley National Bank LOC), 0.350%, 12/2/2021 | 2,740,000 | |
3,190,000 | New Jersey EDA (Geriatric Services Housing Corp., Inc. - (CNJJHA Assisted Living)), (Series 2001) Weekly VRDNs, (Valley National Bank LOC), 0.200%, 12/1/2021 | 3,190,000 | |
11,255,000 | New Jersey EDA (Jewish Community Center on the Palisades), (Series 2016) Weekly VRDNs, (Valley National Bank LOC), 0.350%, 12/3/2021 | 11,255,000 | |
1,325,000 | New Jersey EDA (Temple Emanuel of the Pascack Valley), (Series 2001/2019) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.300%, 12/3/2021 | 1,325,000 | |
4,380,000 | New Jersey Health Care Facilities Financing Authority (Christian Health Care Center), (Series A-2) Weekly VRDNs, (Valley National Bank LOC), 0.250%, 12/2/2021 | 4,380,000 | |
14,885,000 | New Jersey State Economic Development Authority (Jewish Community Housing Corporation of Metropolitan New Jersey), (Series 2010) Weekly VRDNs, (Valley National Bank LOC), 0.170%, 12/2/2021 | 14,885,000 | |
2,484,000 | Newton, NJ BANs, 1.000%, 7/20/2022 | 2,495,760 | |
5,754,000 | North Arlington, NJ BANs, 1.250%, 11/10/2022 | 5,799,878 | |
1,900,000 | Oceanport, NJ BANs, 1.000%, 2/24/2022 | 1,903,285 | |
4,627,696 | Pemberton Township, NJ BANs, 1.000%, 6/2/2022 | 4,644,354 | |
4,129,000 | Phillipsburg, NJ BANs, 1.000%, 5/26/2022 | 4,142,875 | |
2,700,000 | Pine Beach, NJ BANs, 1.000%, 10/28/2022 | 2,714,617 | |
3,241,000 | Pitman, NJ BANs, 2.000%, 12/15/2021 | 3,242,981 | |
2,500,000 | Ridgefield Park, NJ BANs, 1.250%, 4/8/2022 | 2,508,211 | |
3,500,000 | Somers Point, NJ BANs, 1.000%, 12/21/2021 | 3,501,069 | |
6,660,000 | Somerville Borough, NJ BANs, 0.750%, 2/3/2022 | 6,665,820 | |
1,466,250 | South Hackensack, NJ BANs, 1.000%, 2/17/2022 | 1,468,625 | |
6,464,075 | South Plainfield, NJ BANs, 1.000%, 8/19/2022 | 6,500,961 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 3,685,000 | South River, NJ, (Series B) BANs, 1.500%, 12/17/2021 | $3,686,769 | |
2,791,925 | South Toms River, NJ BANs, 1.000%, 5/20/2022 | 2,800,858 | |
2,160,395 | Southampton Township, NJ BANs, 1.000%, 7/6/2022 | 2,169,617 | |
3,200,000 | Southampton Township, NJ BANs, 1.000%, 7/6/2022 | 3,213,314 | |
4,174,727 | Stanhope, NJ BANs, 1.000%, 5/19/2022 | 4,188,200 | |
29,512,000 | Stone Harbor, NJ BANs, 1.500%, 10/28/2022 | 29,832,085 | |
2,370,250 | Tabernacle Township, NJ, (Series A) BANs, 1.000%, 12/16/2021 | 2,370,686 | |
3,489,183 | Union Beach, NJ BANs, 1.000%, 2/18/2022 | 3,494,984 | |
2,931,710 | Union Beach, NJ BANs, 1.250%, 10/27/2022 | 2,954,203 | |
4,864,000 | Washington Township (Morris County), NJ BANs, 1.000%, 8/24/2022 | 4,891,227 | |
3,727,978 | Washington Township, NJ (Warren County) BANs, 1.000%, 8/26/2022 | 3,749,821 | |
23,857,041 | West Caldwell Township, NJ BANs, 1.000%, 12/10/2021 | 23,860,788 | |
4,915,750 | West Deptford Township, NJ BANs, 1.000%, 9/1/2022 | 4,945,204 | |
3,691,000 | West Long Branch, NJ BANs, 1.000%, 6/24/2022 | 3,706,092 | |
7,747,500 | Winslow Township, NJ BANs, 1.000%, 9/20/2022 | 7,795,270 | |
6,628,000 | Woodbury, NJ BANs, 1.500%, 12/2/2021 | 6,628,181 | |
7,525,000 | Woodland Park, NJ BANs, 1.500%, 5/27/2022 | 7,568,653 | |
TOTAL | 414,177,500 | ||
New York— 4.9% | |||
12,484,729 | Bainbridge-Guilford, NY Central School District BANs, 1.500%, 6/24/2022 | 12,572,098 | |
2,150,000 | Friendship, NY Central School District BANs, 1.000%, 6/29/2022 | 2,159,500 | |
4,150,000 | Garrison, NY UFSD BANs, 1.000%, 6/30/2022 | 4,167,920 | |
5,900,000 | Greenwich, NY Central School District BANs, 1.000%, 6/29/2022 | 5,926,070 | |
5,590,000 | Hempstead (town), NY IDA MFH (Hempstead Village Housing Associates LP), (Series 2006) Weekly VRDNs, (FNMA LOC), 0.120%, 12/2/2021 | 5,590,000 | |
19,306,330 | Little Falls, NY City School District BANs, 1.500%, 2/4/2022 | 19,349,169 | |
3,790,000 | New Rochelle, NY IDA (180 Union Avenue Owner LP), (Series 2006: West End Phase I Facility) Weekly VRDNs, (Citibank N.A., New York LOC), 0.140%, 12/2/2021 | 3,790,000 | |
33,370,000 | New York City, NY Transitional Finance Authority, Stage Trust 3a-7 (Series 2020-002) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 33,370,000 | |
15,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 15,000,000 | |
6,000,000 | New York State Energy Research & Development Authority (National Grid Generation LLC), (1997 Series A) Weekly VRDNs, (NatWest Markets PLC LOC), 0.110%, 12/1/2021 | 6,000,000 | |
2,200,000 | New York State HFA (100 Maiden Lane), (2004 Series A) Weekly VRDNs, (Federal National Mortgage Association LOC), 0.040%, 12/1/2021 | 2,200,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 10,000,000 | New York Transportation Development Corporation (LaGuardia Gateway Partners, LLC), Tender Option Bond Trust Receipts (Series 2016-XM0403) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 0.430%, 12/2/2021 | $10,000,000 | |
6,000,000 | Watertown, NY Enlarged City School District BANs, 1.000%, 6/28/2022 | 6,025,698 | |
6,000,000 | Wayne, NY Central School District BANs, 1.000%, 6/29/2022 | 6,026,167 | |
TOTAL | 132,176,622 | ||
North Carolina— 1.7% | |||
25,100,000 | Hertford County, NC Industrial Facilities & PCFA (Nucor Corp.), (Series 2000A) Weekly VRDNs, 0.100%, 12/1/2021 | 25,100,000 | |
1,200,000 | Hertford County, NC Industrial Facilities & PCFA (Nucor Corp.), (Series 2000B) Weekly VRDNs, 0.100%, 12/1/2021 | 1,200,000 | |
17,475,000 | Person County, NC Industrial Facilities & PCFA (Certainteed Gypsum, Inc.), (Series 2010) Weekly VRDNs, (Credit Industriel et Commercial LOC), 0.090%, 12/2/2021 | 17,475,000 | |
3,000,000 | Yancey County, NC Industrial Facilities & PCFA (Altec Industries, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 0.180%, 12/2/2021 | 3,000,000 | |
TOTAL | 46,775,000 | ||
Ohio— 1.7% | |||
30,470,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 30,470,000 | |
8,100,000 | Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Barclays Golden Blue (Series 2020-002) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 8,100,000 | |
7,000,000 | Toledo-Lucas County, OH Port Authority (Van Deurzen Dairy LLC), (Series 2006) Weekly VRDNs, (AgriBank FCB LOC), 0.100%, 12/2/2021 | 7,000,000 | |
TOTAL | 45,570,000 | ||
Pennsylvania— 2.2% | |||
26,500,000 | Blackrock MuniYield Pennsylvania Quality Fund, (663 Series W-7 VRDP Shares) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.130%, 12/2/2021 | 26,500,000 | |
795,000 | East Hempfield Township, PA IDA (BGT Realty), (Series of 2005) Weekly VRDNs, (Fulton Bank, N.A. LOC), 0.460%, 12/2/2021 | 795,000 | |
16,000,000 | Montgomery County, PA IDA (Lonza, Inc.), (Series 2000) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.110%, 12/2/2021 | 16,000,000 | |
9,325,000 | Pennsylvania State Turnpike Commission, RBC Muni Products (Series G-43) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 12/1/2021 | 9,325,000 | |
4,070,000 | Philadelphia, PA Airport System, Tender Option Bond Trust Receipts (Series 2017-XG0159) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.130%, 12/2/2021 | 4,070,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$ 2,000,000 | Philadelphia, PA Authority for Industrial Development (Susquehanna Net Zero Housing, L.P.), Tender Option Bond Trust Floater Certificates (2020-MIZ9051) VRENs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 0.300%, 12/2/2021 | $2,000,000 | |
TOTAL | 58,690,000 | ||
South Carolina— 1.5% | |||
21,500,000 | Berkeley County, SC IDB (Nucor Corp.) Weekly VRDNs, 0.100%, 12/1/2021 | 21,500,000 | |
10,100,000 | Berkeley County, SC IDB (Nucor Corp.), (Series 1997) Weekly VRDNs, 0.100%, 12/1/2021 | 10,100,000 | |
2,815,000 | South Carolina State Public Service Authority (Santee Cooper) (Santee Cooper), CDI Net Liquidity (Series 2020-XL0154) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.130%, 12/2/2021 | 2,815,000 | |
4,900,000 | South Carolina State Public Service Authority (Santee Cooper) (Santee Cooper), CDI Net Liquidity (Series 2020-YX1157) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.130%, 12/2/2021 | 4,900,000 | |
TOTAL | 39,315,000 | ||
South Dakota— 0.1% | |||
3,000,000 | South Dakota Value Added Finance Authority (Prairie Gold Dairy LLC), (Series 2004) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 3,000,000 | |
Tennessee— 1.0% | |||
25,620,000 | Memphis-Shelby County, TN Industrial Development Board - PCRB (Nucor Steel Memphis, Inc.), (Series 2007) Weekly VRDNs, (GTD by Nucor Corp.), 0.100%, 12/1/2021 | 25,620,000 | |
Texas— 6.3% | |||
5,000,000 | Alamo, TX CCD, RBC Muni Products (Series G-111) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 5/2/2022 | 5,000,000 | |
4,000,000 | Jewett, TX Economic Development Corporation (Nucor Corp.), (Series 2003) Weekly VRDNs, 0.100%, 12/1/2021 | 4,000,000 | |
9,000,000 | North Texas Tollway Authority, RBC Municipal Products Trust (Series 2019 G-112) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 9,000,000 | |
25,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002A) Weekly VRDNs, 0.130%, 12/1/2021 | 25,000,000 | |
12,500,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2003) Weekly VRDNs, 0.160%, 12/1/2021 | 12,500,000 | |
21,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2005) Weekly VRDNs, 0.160%, 12/1/2021 | 21,000,000 | |
42,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2006) Weekly VRDNs, 0.160%, 12/1/2021 | 42,000,000 | |
35,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2007) Weekly VRDNs, 0.160%, 12/1/2021 | 35,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 15,000,000 | Texas State Department of Housing & Community Affairs (Onion Creek Housing Partners Ltd.), (Series 2007) Weekly VRDNs, (FNMA LOC), 0.150%, 12/2/2021 | $15,000,000 | |
TOTAL | 168,500,000 | ||
Utah— 0.6% | |||
15,240,000 | Emery County, UT (Pacificorp), PCRB (Series 1994) Weekly VRDNs, 0.090%, 12/1/2021 | 15,240,000 | |
500,000 | Salt Lake County, UT Training Facilities (Community Foundation For The Disabled, Inc.), (Series 2000) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.200%, 12/2/2021 | 500,000 | |
TOTAL | 15,740,000 | ||
Virginia— 0.2% | |||
2,055,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0916) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 2,055,000 | |
3,145,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0928) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 3,145,000 | |
TOTAL | 5,200,000 | ||
Washington— 0.1% | |||
1,470,000 | Washington State EDFA (Mesa Dairy, LLC), (Series 2007E) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 0.100%, 12/2/2021 | 1,470,000 | |
Wisconsin— 0.5% | |||
6,000,000 | Public Finance Authority, WI (Bradford Preparatory School), Tender Option Bond Trust Receipts (2020-XF2887) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.250%, 12/2/2021 | 6,000,000 | |
1,200,000 | Public Finance Authority, WI (Carolina Charter Academy, Inc.), Tender Option Bond Trust Receipts (Series 2021-XF2931) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,200,000 | |
1,650,000 | Public Finance Authority, WI (DCA Lexington Properties, LLC), Tender Option Bond Trust Receipts (Series 2021-XF2933) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,650,000 | |
1,000,000 | Wausau, WI IDA (Apogee Enterprises, Inc.), (Series 2002) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.160%, 12/2/2021 | 1,000,000 | |
790,000 | West Bend, WI IDA (Jackson Concrete, Inc.), (Series 2006) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.360%, 12/2/2021 | 790,000 | |
2,675,000 | Wisconsin State Public Finance Authority (Birchwood Properties LP), (Series 2016) Weekly VRDNs, (FHLB of Des Moines LOC), 0.270%, 12/2/2021 | 2,675,000 | |
TOTAL | 13,315,000 |
Principal Amount | Value | ||
MUNICIPAL BONDS— 0.1% | |||
New Jersey— 0.1% | |||
$ 1,800,000 | Hillsdale Borough, NJ BANs, 1.000%, 12/2/2022 | $1,810,530 | |
TOTAL INVESTMENT IN SECURITIES—100.5% (AT AMORTIZED COST)2 | 2,687,827,652 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.5)%3 | (14,253,541) | ||
TOTAL NET ASSETS—100% | $2,673,574,111 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost of investments for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CCD | —Community College District | |
CP | —Commercial Paper | |
EDA | —Economic Development Authority | |
EDFA | —Economic Development Finance Authority | |
EDRB | —Economic Development Revenue Bond | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDRB | —Industrial Development Revenue Bond | |
IDRBs | —Industrial Development Revenue Bonds | |
IFA | —Industrial Finance Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCFA | —Pollution Control Finance Authority | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
TOBs | —Tender Option Bonds | |
UFSD | —Union Free School District | |
USD | —United States Dollar | |
VMTP | —Variable Municipal Term Preferred | |
VRDNs | —Variable Rate Demand Notes | |
VRDP | —Variable Rate Demand Preferred | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 20182 | 20173 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0004 | 0.0004 | 0.009 | 0.0105 | 0.007 | 0.002 | 0.0004 |
Net realized gain (loss) | 0.0004 | 0.0004 | 0.0004 | 0.0004 | 0.0004 | 0.001 | 0.0004 |
Total From Investment Operations | 0.0004 | 0.0004 | 0.009 | 0.010 | 0.007 | 0.003 | 0.0004 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)4 | (0.000)4 | (0.009) | (0.010) | (0.007) | (0.002) | (0.000)4 |
Distributions from net realized gain | (0.000)4 | (0.000)4 | (0.000)4 | (0.000)4 | (0.000)4 | (0.001) | (0.000)4 |
Total Distributions | (0.000)4 | (0.000)4 | (0.009) | (0.010) | (0.007) | (0.003) | (0.000)4 |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return6 | 0.01% | 0.01% | 0.91% | 0.99% | 0.77% | 0.29% | 0.06% |
Ratios to Average Net Assets: | |||||||
Net expenses7 | 0.17%8 | 0.33% | 0.56% | 0.56%8 | 0.55% | 0.61% | 0.28%9 |
Net investment income | 0.01%8 | 0.01% | 0.90% | 1.20%8 | 0.81% | 0.23% | 0.01% |
Expense waiver/reimbursement10 | 0.48%8 | 0.32% | 0.09% | 0.09%8 | 0.10% | 0.11% | 0.53% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $671,339 | $683,243 | $818,565 | $636,808 | $48,952 | $011 | $011 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Effective September 28, 2017, Trust Shares were re-designated as Automated Shares. |
3 | Certain ratios included above in Ratios to Average Net Assets and per share amounts may be inflated or deflated as compared to the fee structure for each respective share class as a result of daily systematic allocations being rounded to the nearest penny for fund level income, expense and realized/unrealized gain/loss amounts. Such differences are immaterial. |
4 | Represents less than $0.001. |
5 | Per share numbers have been calculated using the average shares method. |
6 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
7 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
8 | Computed on an annualized basis. |
9 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.28% after taking into account this expense reduction. |
10 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
11 | Represents less than $1,000. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.0002 | 0.007 | 0.0083 | 0.005 | 0.001 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.0002 | 0.007 | 0.008 | 0.005 | 0.002 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.000)2 | (0.007) | (0.008) | (0.005) | (0.001) | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.000)2 | (0.007) | (0.008) | (0.005) | (0.002) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.01% | 0.71% | 0.79% | 0.54% | 0.17% | 0.06% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.35% | 0.78% | 0.78%6 | 0.78% | 0.76% | 0.53%7 |
Net investment income | 0.01%6 | 0.01% | 0.77% | 0.95%6 | 0.46% | 0.11% | 0.01% |
Expense waiver/reimbursement8 | 0.72%6 | 0.54% | 0.12% | 0.12%6 | 0.13% | 0.16% | 0.38% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $4,213 | $4,756 | $11,112 | $44,873 | $40,219 | $68,690 | $56,319 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.53% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.001 | 0.012 | 0.0133 | 0.011 | 0.001 | 0.001 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.001 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.001 | 0.013 | 0.013 | 0.011 | 0.002 | 0.001 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.001) | (0.013) | (0.013) | (0.011) | (0.001) | (0.001) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.001) | (0.013) | (0.013) | (0.011) | (0.002) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.13% | 1.27% | 1.27% | 1.12% | 0.72% | 0.17% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.21% | 0.21% | 0.21%6 | 0.21% | 0.21% | 0.17%7 |
Net investment income | 0.01%6 | 0.12% | 1.24% | 1.52%6 | 1.10% | 0.64% | 0.11% |
Expense waiver/ reimbursement8 | 0.13%6 | 0.09% | 0.09% | 0.09%6 | 0.10% | 0.11% | 0.14% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $1,143,880 | $1,372,803 | $1,510,434 | $1,713,390 | $1,163,568 | $667,169 | $1,003,993 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.17% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.0002 | 0.010 | 0.0113 | 0.008 | 0.004 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.0002 | 0.010 | 0.011 | 0.008 | 0.005 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.000)2 | (0.010) | (0.011) | (0.008) | (0.004) | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.000)2 | (0.010) | (0.011) | (0.008) | (0.005) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.02% | 1.01% | 1.06% | 0.87% | 0.47% | 0.08% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.34% | 0.46% | 0.46%6 | 0.46% | 0.46% | 0.25%7 |
Net investment income | 0.01%6 | 0.02% | 0.98% | 1.26%6 | 0.84% | 0.39% | 0.03% |
Expense waiver/ reimbursement8 | 0.38%6 | 0.20% | 0.09% | 0.09%6 | 0.10% | 0.11% | 0.31% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $284,802 | $255,785 | $515,994 | $410,580 | $449,099 | $369,709 | $584,893 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.25% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.0002 | 0.006 | 0.0073 | 0.004 | 0.0002 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.0002 | 0.006 | 0.007 | 0.004 | 0.001 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.000)2 | (0.006) | (0.007) | (0.004) | (0.000)2 | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.000)2 | (0.006) | (0.007) | (0.004) | (0.001) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.01% | 0.60% | 0.69% | 0.43% | 0.11% | 0.06% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.31% | 0.88% | 0.91%6 | 0.90% | 0.82% | 0.33%7 |
Net investment income | 0.01%6 | 0.01% | 0.60% | 0.83%6 | 0.35% | 0.04% | 0.01% |
Expense waiver/reimbursement8 | 0.83%6 | 0.69% | 0.11% | 0.09%6 | 0.10% | 0.19% | 0.68% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $73,970 | $74,123 | $44,704 | $50,506 | $49,804 | $88,884 | $118,980 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.33% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.0002 | 0.005 | 0.0063 | 0.003 | 0.0002 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.0002 | 0.005 | 0.006 | 0.003 | 0.001 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.000)2 | (0.005) | (0.006) | (0.003) | (0.000)2 | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.000)2 | (0.005) | (0.006) | (0.003) | (0.001) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.01% | 0.49% | 0.59% | 0.31% | 0.07% | 0.06% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.32% | 0.99% | 1.02%6 | 1.02% | 0.83% | 0.30%7 |
Net investment income | 0.01%6 | 0.01% | 0.49% | 0.71%6 | 0.30% | 0.01% | 0.01% |
Expense waiver/ reimbursement8 | 1.08%6 | 0.93% | 0.27% | 0.24%6 | 0.24% | 0.45% | 0.96% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $249,484 | $288,115 | $240,445 | $281,674 | $328,142 | $118,975 | $210,967 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.30% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.001 | 0.012 | 0.0123 | 0.010 | 0.006 | 0.001 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.001 | 0.012 | 0.012 | 0.010 | 0.007 | 0.001 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.001) | (0.012) | (0.012) | (0.010) | (0.006) | (0.001) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.001) | (0.012) | (0.012) | (0.010) | (0.007) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.06% | 1.16% | 1.19% | 1.02% | 0.62% | 0.13% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.28% | 0.31% | 0.31%6 | 0.31% | 0.31% | 0.18%7 |
Net investment income | 0.01%6 | 0.06% | 1.16% | 1.41%6 | 1.01% | 0.57% | 0.05% |
Expense waiver/ reimbursement8 | 0.23%6 | 0.12% | 0.09% | 0.09%6 | 0.10% | 0.11% | 0.23% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $245,885 | $289,938 | $359,491 | $409,796 | $635,782 | $255,216 | $153,275 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.18% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
November 30, 2021 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $2,687,827,652 |
Cash | 671,408 |
Income receivable | 2,615,479 |
Receivable for shares sold | 37,183 |
Total Assets | 2,691,151,722 |
Liabilities: | |
Payable for investments purchased | 15,210,530 |
Payable for shares redeemed | 2,132,472 |
Income distribution payable | 1,660 |
Payable for investment adviser fee (Note 4) | 5,120 |
Payable for administrative fee (Note 4) | 5,733 |
Payable for other service fees (Notes 2 and 4) | 9,140 |
Accrued expenses (Note 4) | 212,956 |
Total Liabilities | 17,577,611 |
Net assets for 2,673,482,922 shares outstanding | $2,673,574,111 |
Net Assets Consist of: | |
Paid-in capital | $2,673,462,610 |
Total distributable earnings (loss) | 111,501 |
Total Net Assets | $2,673,574,111 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$671,338,937 ÷ 671,316,057 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Shares: | |
$4,213,429 ÷ 4,213,285 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$1,143,880,067 ÷ 1,143,841,042 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$284,802,008 ÷ 284,792,272 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$73,970,366 ÷ 73,967,845 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$249,484,019 ÷ 249,475,517 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$245,885,285 ÷ 245,876,904 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2021 (unaudited)
Investment Income: | |
Interest | $2,564,335 |
Expenses: | |
Investment adviser fee (Note 4) | 2,811,233 |
Administrative fee (Note 4) | 1,100,485 |
Custodian fees | 43,920 |
Transfer agent fees (Note 2) | 547,701 |
Directors’/Trustees’ fees (Note 4) | 8,503 |
Auditing fees | 11,492 |
Legal fees | 10,840 |
Portfolio accounting fees | 134,616 |
Distribution services fee (Note 4) | 991,456 |
Other service fees (Notes 2 and 4) | 1,745,569 |
Share registration costs | 75,533 |
Printing and postage | 23,816 |
Miscellaneous (Note 4) | 11,437 |
TOTAL EXPENSES | 7,516,601 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 4) | (1,841,808) |
Waivers/reimbursements of other operating expenses (Notes 2 and 4) | (3,251,797) |
TOTAL WAIVERS AND REIMBURSEMENTS | (5,093,605) |
Net expenses | 2,422,996 |
Net investment income | $141,339 |
Net realized gain on investments | 23,974 |
Change in net assets resulting from operations | $165,313 |
Six Months Ended (unaudited) 11/30/2021 | Year Ended 5/31/2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $141,339 | $2,680,484 |
Net realized gain (loss) | 23,974 | 87,172 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 165,313 | 2,767,656 |
Distributions to Shareholders: | ||
Automated Shares | (33,583) | (82,942) |
Investment Shares | (217) | (976) |
Wealth Shares | (63,048) | (2,328,392) |
Service Shares | (12,839) | (97,518) |
Cash II Shares | (3,770) | (6,463) |
Cash Series Shares | (14,235) | (29,175) |
Capital Shares | (13,657) | (228,477) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (141,349) | (2,773,943) |
Share Transactions: | ||
Proceeds from sale of shares | 1,366,188,669 | 5,768,486,888 |
Net asset value of shares issued to shareholders in payment of distributions declared | 130,809 | 2,386,409 |
Cost of shares redeemed | (1,661,532,548) | (6,302,848,809) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (295,213,070) | (531,975,512) |
Change in net assets | (295,189,106) | (531,981,799) |
Net Assets: | ||
Beginning of period | 2,968,763,217 | 3,500,745,016 |
End of period | $2,673,574,111 | $2,968,763,217 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $343,481 | $— | $(335,418) |
Investment Shares | 2,086 | — | (2,034) |
Wealth Shares | 14,181 | — | — |
Service Shares | 2,926 | — | — |
Cash II Shares | 36,350 | — | (35,445) |
Cash Series Shares | 145,564 | (42,695) | (99,505) |
Capital Shares | 3,113 | (3) | — |
TOTAL | $547,701 | $(42,698) | $(472,402) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $839,542 | $— | $(839,542) |
Investment Shares | 5,389 | — | (5,389) |
Service Shares | 314,064 | — | (313,908) |
Cash II Shares | 94,351 | — | (94,351) |
Cash Series Shares | 355,802 | — | (355,802) |
Capital Shares | 136,421 | (1,221) | (135,028) |
TOTAL | $1,745,569 | $(1,221) | $(1,744,020) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Automated Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 161,572 | $161,572 | 420,871 | $420,871 |
Shares issued to shareholders in payment of distributions declared | 34 | 34 | 83 | 83 |
Shares redeemed | (173,517) | (173,517) | (556,273) | (556,273) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (11,911) | $(11,911) | (135,319) | $(135,319) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Investment Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 3,100 | $3,100 | 17,902 | $17,902 |
Shares issued to shareholders in payment of distributions declared | — | — | 1 | 1 |
Shares redeemed | (3,643) | (3,643) | (24,259) | (24,259) |
NET CHANGE RESULTING FROM INVESTMENT SHARE TRANSACTIONS | (543) | $(543) | (6,356) | $(6,356) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 606,405 | $606,405 | 3,727,752 | $3,727,752 |
Shares issued to shareholders in payment of distributions declared | 55 | 55 | 1,950 | 1,950 |
Shares redeemed | (835,392) | (835,392) | (3,867,332) | (3,867,332) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (228,932) | $(228,932) | (137,630) | $(137,630) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 294,896 | $294,896 | 597,196 | $597,196 |
Shares issued to shareholders in payment of distributions declared | 11 | 11 | 89 | 89 |
Shares redeemed | (265,893) | (265,893) | (857,490) | (857,490) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 29,014 | $29,014 | (260,205) | $(260,205) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Cash II Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 16,750 | $16,750 | 84,333 | $84,333 |
Shares issued to shareholders in payment of distributions declared | 4 | 4 | 6 | 6 |
Shares redeemed | (16,908) | (16,908) | (54,921) | (54,921) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (154) | $(154) | 29,418 | $29,418 |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Cash Series Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 200,732 | $200,732 | 551,188 | $551,188 |
Shares issued to shareholders in payment of distributions declared | 13 | 13 | 29 | 29 |
Shares redeemed | (239,378) | (239,378) | (503,548) | (503,548) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (38,633) | $(38,633) | 47,669 | $47,669 |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Capital Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 82,734 | $82,734 | 369,245 | $369,245 |
Shares issued to shareholders in payment of distributions declared | 14 | 14 | 227 | 227 |
Shares redeemed | (126,802) | (126,802) | (439,025) | (439,025) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (44,054) | $(44,054) | (69,553) | $(69,553) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (295,213) | $(295,213) | (531,976) | $(531,976) |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Percentage of Average Daily Net Assets of Class | |
Investment Shares | 0.25% |
Cash II Shares | 0.35% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Investment Shares | $5,389 | $(5,389) |
Cash II Shares | 132,142 | (132,142) |
Cash Series Shares | 853,925 | (853,925) |
TOTAL | $991,456 | $(991,456) |
Beginning Account Value 6/1/2021 | Ending Account Value 11/30/2021 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,000.10 | $20.85 |
Investment Shares | $1,000 | $1,000.10 | $30.85 |
Wealth Shares | $1,000 | $1,000.10 | $40.85 |
Service Shares | $1,000 | $1,000.10 | $50.85 |
Cash II Shares | $1,000 | $1,000.10 | $60.85 |
Cash Series Shares | $1,000 | $1,000.10 | $70.85 |
Capital Shares | $1,000 | $1,000.10 | $80.85 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,024.22 | $20.86 |
Investment Shares | $1,000 | $1,024.22 | $30.86 |
Wealth Shares | $1,000 | $1,024.22 | $40.86 |
Service Shares | $1,000 | $1,024.22 | $50.86 |
Cash II Shares | $1,000 | $1,024.22 | $60.86 |
Cash Series Shares | $1,000 | $1,024.22 | $70.86 |
Capital Shares | $1,000 | $1,024.22 | $80.86 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Automated Shares | 0.17% |
Investment Shares | 0.17% |
Wealth Shares | 0.17% |
Service Shares | 0.17% |
Cash II Shares | 0.17% |
Cash Series Shares | 0.17% |
Capital Shares | 0.17% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Automated Shares current Fee Limit of 0.56% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.81 and $2.84, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Investment Shares current Fee Limit of 0.78% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $3.91 and $3.95, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Wealth Shares current Fee Limit of 0.21% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.05 and $1.07, respectively. |
5 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.46% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.31 and $2.33, respectively. |
6 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash II Shares current Fee Limit of 0.91% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $4.56 and $4.61, respectively. |
7 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash Series Shares current Fee Limit of 1.02% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $5.11 and $5.16, respectively. |
8 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.31% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.55 and $1.57, respectively. |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919635
CUSIP 60934N658
CUSIP 60934N641
CUSIP 608919668
CUSIP 608919650
CUSIP 60934N633
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Share Class | Ticker | Wealth | MOFXX |
Federated Hermes Municipal Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 74.0% |
Municipal Notes | 20.3% |
Commercial Paper | 6.2% |
Other Assets and Liabilities—Net2 | (0.5)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 67.6% |
8-30 Days | 3.9% |
31-90 Days | 15.6% |
91-180 Days | 3.6% |
181 Days or more | 9.8% |
Other Assets and Liabilities—Net2 | (0.5)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.4% | ||
Alabama— 3.7% | |||
$ 1,000,000 | Autauga County, AL IDA (Marshall Prattville, LLC), (Series 2008) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.100%, 12/2/2021 | $1,000,000 | |
5,650,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 1998) Daily VRDNs, 0.060%, 12/1/2021 | 5,650,000 | |
3,100,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-A) Daily VRDNs, 0.050%, 12/1/2021 | 3,100,000 | |
31,600,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 0.050%, 12/1/2021 | 31,600,000 | |
3,100,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series C) Daily VRDNs, 0.050%, 12/1/2021 | 3,100,000 | |
3,275,000 | Cooperative District of Fort Spanish, AL, Tender Option Bond Trust Receipts (Series 2021-XF2958) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 3,275,000 | |
10,480,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2007) Weekly VRDNs, (Comerica Bank LOC), 0.100%, 12/2/2021 | 10,480,000 | |
10,000,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2011) Weekly VRDNs, (Comerica Bank LOC), 0.100%, 12/2/2021 | 10,000,000 | |
5,175,000 | Mobile, AL IDB (Alabama Power Co.), (Series 2001-A) Daily VRDNs, 0.070%, 12/1/2021 | 5,175,000 | |
25,700,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 0.140%, 12/1/2021 | 25,700,000 | |
TOTAL | 99,080,000 | ||
Arizona— 0.2% | |||
5,610,000 | Maricopa County, AZ, IDA (Redman Homes, Inc.), (Series 1999) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.210%, 12/2/2021 | 5,610,000 | |
Arkansas— 0.4% | |||
1,800,000 | Blytheville, AR (Nucor Corp.), (Series 2002) Weekly VRDNs, 0.100%, 12/1/2021 | 1,800,000 | |
3,830,000 | Lowell, AR IDRB (Arkansas Democrat-Gazette, Inc.), (Series 2006) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.170%, 12/1/2021 | 3,830,000 | |
5,800,000 | Lowell, AR IDRB (Little Rock Newspapers, Inc.), (Series 1996) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.170%, 12/1/2021 | 5,800,000 | |
TOTAL | 11,430,000 | ||
California— 10.9% | |||
2,485,000 | Alameda County, CA IDA (Santini Foods, Inc.), (Series 2010A) Weekly VRDNs, (Comerica Bank LOC), 0.080%, 12/2/2021 | 2,485,000 | |
4,910,000 | California Enterprise Development Authority (J. Harris Industrial Water Treatment, Inc.), (Series 2015) Weekly VRDNs, (City National Bank LOC), 0.130%, 12/2/2021 | 4,910,000 | |
3,800,000 | California Enterprise Development Authority (Regional Properties, Inc.), (Series 2010: Recovery Zone Facility) Weekly VRDNs, (FHLB of San Francisco LOC), 0.080%, 12/2/2021 | 3,800,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 20,000,000 | California Health Facilities Financing Authority (Dignity Health (Catholic Healthcare West)), Golden Blue (Series 2017-004) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | $20,000,000 | |
26,705,000 | California Health Facilities Financing Authority (Kaiser Permanente), (Series 2006E), CP, 0.110%, Mandatory Tender 2/9/2022 | 26,705,000 | |
1,070,000 | California HFA Multi-Family (Hope on Broadway LP), Tender Option Bond Trust Receipts (2021-XF2928) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,070,000 | |
39,405,000 | California Infrastructure & Economic Development Bank (DesertXpress Enterprises, LLC), (Series 2020A: Brightline West Passenger Rail) TOBs, (United States Treasury GTD), 0.200%, Mandatory Tender 2/1/2022 | 39,405,000 | |
2,000,000 | California PCFA (C.A. and E.J. Vanderham Family Trust), (Series 2003) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 2,000,000 | |
3,000,000 | California PCFA (P & D Dairy and Poso Creek Family Dairy, LLC), (Series 2003) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 0.100%, 12/2/2021 | 3,000,000 | |
30,000,000 | California PCFA (Sierra Pacific Industries), (Series 2014) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.130%, 12/1/2021 | 30,000,000 | |
2,940,000 | California PCFA (T & W Farms), (Series 2002) Weekly VRDNs, (Bank of America N.A. LOC), 0.100%, 12/2/2021 | 2,940,000 | |
3,190,000 | California Statewide Communities Development Authority (Essex Monarch La Brea Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9012) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,190,000 | |
12,000,000 | California Statewide Communities Development Authority (Essex Monarch Santa Monica Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9011) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 12,000,000 | |
9,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.120%, Mandatory Tender 3/3/2022 | 9,000,000 | |
17,190,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 0.170%, Mandatory Tender 12/7/2021 | 17,190,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009 B-6), CP, 0.110%, Mandatory Tender 2/2/2022 | 10,000,000 | |
15,530,000 | California Statewide Communities Development Authority Multi-Family Housing (Uptown Newport Building Owner, LP), (2021 Series A: One Uptown Newport Apartments) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.110%, 12/2/2021 | 15,530,000 | |
4,985,000 | Lucia Mar, CA USD, Tender Option Bond Trust Receipts (Series 2018-XG0181) Weekly VRDNs, (Bank of America N.A. LIQ), 0.080%, 12/2/2021 | 4,985,000 | |
6,670,000 | Manteca, CA USD, Tender Option Bond Trust Certificates (2015-ZM0093) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.090%, 12/2/2021 | 6,670,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 34,000,000 | Nuveen California Quality Municipal Income Fund, PUTTERs 3a-7 (Series 5038) (VRDP Series 5) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.200%, 12/1/2021 | $34,000,000 | |
2,900,000 | Sacramento, CA Municipal Utility District, Tender Option Bond Trust Receipts (Series 2020-ZF0943) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.070%, 12/2/2021 | 2,900,000 | |
31,130,000 | San Francisco, CA City and County (Transbay Block 8 Tower Apartments Obligated Group), Mizuho 3a-7 (2021-MIZ9063) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 31,130,000 | |
9,550,000 | Santa Clara Valley, CA Transportation Authority (2000 Measure A Sales Tax), (2008 Series A) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.060%, 12/2/2021 | 9,550,000 | |
TOTAL | 292,460,000 | ||
Colorado— 0.7% | |||
3,300,000 | Colorado Agricultural Development Authority (Monte Vista Dairy, LLC), (Series 2006) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 3,300,000 | |
4,615,000 | Colorado HFA (Acme Manufacturing Company, Inc.), (Series 2016A) Weekly VRDNs, (UMB Bank, N.A. LOC), 0.240%, 12/2/2021 | 4,615,000 | |
1,370,000 | Colorado HFA (Class I Bonds) (Xybix Systems, Inc.), (Series 2007) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.200%, 12/2/2021 | 1,370,000 | |
1,370,000 | Colorado HFA (Popiel Properties LLC), (Series 2004A) Weekly VRDNs, (UMB Bank, N.A. LOC), 0.290%, 12/2/2021 | 1,370,000 | |
3,000,000 | Denver, CO City & County Airport Authority, RBC Muni Products (Series G-114) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.300%, Optional Tender 12/1/2021 | 3,000,000 | |
2,185,000 | Denver, CO City & County Airport Authority, Tender Option Bond Trust Receipts (Series 2018-ZF0689) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.120%, 12/2/2021 | 2,185,000 | |
1,835,000 | Denver, CO City & County Airport Authority, Tender Option Bond Trust Receipts (Series 2018-ZF0691) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.120%, 12/2/2021 | 1,835,000 | |
TOTAL | 17,675,000 | ||
Connecticut— 0.7% | |||
8,000,000 | Connecticut State Special Transportation Fund, RBC Muni Products (Series G-110) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.230%, Optional Tender 4/1/2022 | 8,000,000 | |
10,280,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 10,280,000 | |
TOTAL | 18,280,000 | ||
Florida— 1.3% | |||
6,000,000 | Broward County, FL Port Facilities, RBC Municipal Products Trust (Series G-115) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.300%, Optional Tender 3/1/2022 | 6,000,000 | |
4,000,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.), (First Series 2009) Daily VRDNs, 0.050%, 12/1/2021 | 4,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— continued | |||
$ 1,440,000 | Florida Development Finance Corp. (Navigator Academy of Leadership, Inc.), Tender Option Bond Trust Receipts (2021-XF2945) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | $1,440,000 | |
9,000,000 | Greater Orlando, FL Aviation Authority, (RBC Muni Products Series G-25) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.300%, Optional Tender 4/1/2022 | 9,000,000 | |
5,000,000 | Hillsborough County, FL Solid Waste & Resource Recovery, RBC Muni Products (Series G-41) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 3/1/2022 | 5,000,000 | |
8,115,000 | Lee County, FL IDA (Florida Power & Light Co.), (Series 2016A) Daily VRDNs, 0.060%, 12/1/2021 | 8,115,000 | |
2,500,000 | Miami-Dade County, FL HFA (Cordoba FL TC, LP), Mizuho 3a-7 (2021-MIZ9072) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 2,500,000 | |
TOTAL | 36,055,000 | ||
Georgia— 4.4% | |||
1,000,000 | Atlanta, GA Airport General Revenue, Tender Option Bond Receipts (Series 2019-XF0815) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 12/2/2021 | 1,000,000 | |
4,400,000 | Burke County, GA Development Authority (Georgia Power Co.), (1st Series 2009) Daily VRDNs, 0.080%, 12/1/2021 | 4,400,000 | |
5,155,000 | Burke County, GA Development Authority (Georgia Power Co.), (2018 1st Series) Daily VRDNs, 0.070%, 12/1/2021 | 5,155,000 | |
10,000,000 | Columbus, GA Development Authority (Lumpkin Park Partners, Ltd.), (Series 2008) Weekly VRDNs, (FHLMC LOC), 0.150%, 12/2/2021 | 10,000,000 | |
420,000 | Fitzgerald & Ben Hill County, GA Development Authority (Agri-Products, Inc.), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.100%, 12/2/2021 | 420,000 | |
2,500,000 | Floyd County, GA Development Authority PCRB (Georgia Power Co.), (First Series 1996) Daily VRDNs, 0.090%, 12/1/2021 | 2,500,000 | |
9,900,000 | Heard County, GA Development Authority (Georgia Power Co.), (First Series 2007) Daily VRDNs, 0.070%, 12/1/2021 | 9,900,000 | |
3,800,000 | Monroe County, GA Development Authority (Gulf Power Co.), (Series 2019) Daily VRDNs, 0.060%, 12/1/2021 | 3,800,000 | |
7,100,000 | Monroe County, GA Development Authority Pollution Control (Georgia Power Co.), (First Series 2008) Daily VRDNs, 0.090%, 12/1/2021 | 7,100,000 | |
2,075,000 | Savannah, GA EDA (Consolidated Utilities, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 0.180%, 12/2/2021 | 2,075,000 | |
68,000,000 | Savannah, GA EDA (Home Depot, Inc.), (Series 1995A) Weekly VRDNs, 0.190%, 12/1/2021 | 68,000,000 | |
2,315,000 | Wayne County, GA, IDA (Sierra International Machinery LLC), (Series 2011) Weekly VRDNs, (Truist Bank LOC), 0.180%, 12/2/2021 | 2,315,000 | |
TOTAL | 116,665,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Hawaii— 0.2% | |||
$ 6,540,000 | Hawaii State Department of Budget & Finance (Queen’s Health Systems), (2015 Series C) VRENs, 0.500%, 12/2/2021 | $6,540,000 | |
Illinois— 1.5% | |||
13,400,000 | Chicago, IL Midway Airport, (Series 2014C) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 12/2/2021 | 13,400,000 | |
4,680,000 | Chicago, IL O’Hare International Airport, Tender Option Bond Trust Receipts (Series 2018-XM0686) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.130%, 12/2/2021 | 4,680,000 | |
4,600,000 | Illinois Finance Authority - Solid Waste (Kuusakoski US LLC), (Series 2013) Weekly VRDNs, (Nordea Bank Abp LOC), 0.100%, 12/2/2021 | 4,600,000 | |
18,185,000 | Metropolitan Pier & Exposition Authority, IL, Tender Option Bond Trust Receipts (2021-MS0001) TOBs, (Morgan Stanley Bank, N.A. LIQ)/(Morgan Stanley Bank, N.A. LOC), 0.170%, Optional Tender 2/3/2022 | 18,185,000 | |
TOTAL | 40,865,000 | ||
Indiana— 1.8% | |||
6,050,000 | Bloomington, IN EDRB (SY Henderson Court Investors, LP), (Series 2008: Henderson Court Apartments) Weekly VRDNs, (FHLMC LOC), 0.150%, 12/2/2021 | 6,050,000 | |
8,000,000 | Indiana Development Finance Authority (Duke Energy Indiana, Inc.), (Series 2003A) Weekly VRDNs, 0.100%, 12/1/2021 | 8,000,000 | |
400,000 | Indiana Development Finance Authority (South Central Community Mental Health Centers, Inc.), D/B/A Center for Behavioral Health (Series 2002) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.200%, 12/2/2021 | 400,000 | |
21,370,000 | Indiana State Finance Authority (Indiana State), Stage Trust (Series 2020-004) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 21,370,000 | |
12,900,000 | Indianapolis, IN Multifamily Housing (Pedcor Investments-2006- LXXXVIII LP), (Series 2007A: Forest Ridge Apartments) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.150%, 12/2/2021 | 12,900,000 | |
TOTAL | 48,720,000 | ||
Iowa— 0.9% | |||
19,000,000 | Iowa Finance Authority (Cargill, Inc.), (Series 2021) Weekly VRDNs, 0.110%, 12/2/2021 | 19,000,000 | |
5,300,000 | Iowa Finance Authority (Five Star Holdings LLC), (Series 2007) Weekly VRDNs, (AgriBank FCB LOC), 0.100%, 12/2/2021 | 5,300,000 | |
TOTAL | 24,300,000 | ||
Kansas— 1.0% | |||
5,000,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007A) Weekly VRDNs, 0.140%, 12/1/2021 | 5,000,000 | |
21,000,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007B) Weekly VRDNs, 0.140%, 12/1/2021 | 21,000,000 | |
TOTAL | 26,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Kentucky— 3.7% | |||
$ 6,500,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 5/2/2022 | $6,500,000 | |
1,800,000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), (1999 Series A) Daily VRDNs, (United Parcel Service, Inc. GTD), 0.060%, 12/1/2021 | 1,800,000 | |
21,200,000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), (1999 Series B) Daily VRDNs, (United Parcel Service, Inc. GTD), 0.070%, 12/1/2021 | 21,200,000 | |
34,400,000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), Revenue Bonds (Series C) Daily VRDNs, (United Parcel Service, Inc. GTD), 0.070%, 12/1/2021 | 34,400,000 | |
16,700,000 | Meade County, KY Industrial Building Revenue Authority (Nucor Corp.), (Series 2021A-1) Daily VRDNs, 0.070%, 12/1/2021 | 16,700,000 | |
17,795,000 | Meade County, KY Industrial Building Revenue Authority (Nucor Corp.), (Series 2021B-1) Daily VRDNs, 0.050%, 12/1/2021 | 17,795,000 | |
TOTAL | 98,395,000 | ||
Louisiana— 0.1% | |||
3,790,000 | Louisiana State Housing Corporation (Peace Lake Louisiana Tower Community L.P.), Tender Option Bond Trust Floater Certificates (Series 2020-MIZ9053) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,790,000 | |
Maine— 0.8% | |||
22,260,000 | Old Town, ME (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 0.120%, 12/1/2021 | 22,260,000 | |
Maryland— 0.2% | |||
5,000,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 5,000,000 | |
Massachusetts— 3.9% | |||
10,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 0.140%, Mandatory Tender 12/8/2021 | 10,000,000 | |
28,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 0.200%, Mandatory Tender 1/13/2022 | 28,000,000 | |
30,348,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.130%, Mandatory Tender 12/14/2021 | 30,348,000 | |
4,100,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.130%, Mandatory Tender 12/8/2021 | 4,100,000 | |
31,265,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.180%, Mandatory Tender 1/13/2022 | 31,265,000 | |
TOTAL | 103,713,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Michigan— 0.6% | |||
$ 1,800,000 | Michigan State Strategic Fund (Universal Forest Products Eastern Division, Inc.), Series 2002 Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.150%, 12/2/2021 | $1,800,000 | |
5,250,000 | Michigan Strategic Fund (Greenville Venture Partners LLC), (Series 2018) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 5,250,000 | |
8,000,000 | Wayne County, MI Airport Authority, Airport Revenue Refunding Bonds (Series 2011A-B), 5.000%, 12/1/2021 | 8,000,000 | |
TOTAL | 15,050,000 | ||
Minnesota— 0.0% | |||
1,330,000 | St. Paul, MN Port Authority (National Checking Co.), IDRB’s (Series 1998A) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.240%, 12/2/2021 | 1,330,000 | |
Missouri— 0.6% | |||
15,000,000 | Kansas City, MO IDA (Kansas City, MO Airport Revenue), Tender Option Bond Trust Receipts (Series 2020-XL-150) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 15,000,000 | |
Montana— 0.0% | |||
1,105,000 | Montana State Board of Housing (HRDC IX Affordable Housing Solutions LP), Mizuho 3a-7 (2021-MIZ9062) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 1,105,000 | |
Multi-State— 25.9% | |||
52,000,000 | BlackRock MuniYield Quality Fund III, Inc., (3,564 Series W-7 VRDP Shares) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.140%, 12/2/2021 | 52,000,000 | |
178,500,000 | Invesco Municipal Opportunity Trust, PUTTERs 3a-7 (VMTP 5029) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 178,500,000 | |
89,200,000 | Invesco Value Municipal Income Trust, PUTTERs 3a-7 (VMTP 5027) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 89,200,000 | |
7,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Societe Generale, Paris LIQ), 0.110%, 12/2/2021 | 7,000,000 | |
75,000,000 | Nuveen Municipal Credit Income Fund, PUTTERs 3a-7 (Series 5039) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 75,000,000 | |
37,700,000 | Nuveen Municipal Credit Opportunities Fund, (Series A) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ), 0.160%, 12/2/2021 | 37,700,000 | |
102,275,000 | Nuveen Municipal Credit Opportunities Fund, PUTTERs 3a-7 (Series 5033) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.220%, 12/1/2021 | 102,275,000 | |
40,800,000 | Nuveen Quality Municipal Income Fund, (Series 1) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.140%, 12/2/2021 | 40,800,000 | |
62,000,000 | Nuveen Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.140%, 12/2/2021 | 62,000,000 | |
47,400,000 | Nuveen Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.140%, 12/2/2021 | 47,400,000 | |
TOTAL | 691,875,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Nebraska— 0.4% | |||
$ 7,500,000 | Stanton County, NE (Nucor Corp.), (Series 1996) Weekly VRDNs, 0.100%, 12/1/2021 | $7,500,000 | |
1,875,000 | Stanton County, NE (Nucor Corp.), (Series 1998) Weekly VRDNs, 0.100%, 12/1/2021 | 1,875,000 | |
TOTAL | 9,375,000 | ||
Nevada— 0.2% | |||
1,395,000 | Director of the State of Nevada Department of Business and Industry (575 Mill Street LLC), IDRBs (Series 1998A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.220%, 12/2/2021 | 1,395,000 | |
4,500,000 | Director of the State of Nevada Department of Business and Industry (DesertXpress Enterprises, LLC), (Series 2020A: Brightline West Passenger Rail) TOBs, (United States Treasury GTD), 0.250%, Mandatory Tender 2/1/2022 | 4,500,000 | |
TOTAL | 5,895,000 | ||
New Jersey— 15.5% | |||
12,994,000 | Alexandria Township, NJ Board of Education BANs, 1.000%, 7/27/2022 | 13,056,531 | |
1,900,000 | Atlantic Highlands, NJ BANs, 1.000%, 3/1/2022 | 1,903,171 | |
4,492,300 | Berlin Boro, NJ BANs, 1.000%, 9/28/2022 | 4,520,384 | |
2,418,430 | Boonton Township, NJ BANs, 1.000%, 9/2/2022 | 2,432,241 | |
6,248,518 | Boonton, NJ BANs, 1.500%, 6/24/2022 | 6,292,246 | |
5,492,565 | Bound Brook Borough, NJ BANs, 1.000%, 8/18/2022 | 5,522,617 | |
1,030,300 | Byram Township, NJ BANs, 1.500%, 9/16/2022 | 1,040,383 | |
12,410,000 | Caldwell Borough, NJ BANs, 0.750%, 2/1/2022 | 12,422,739 | |
5,807,835 | Clementon, NJ BANs, 1.000%, 10/3/2022 | 5,844,746 | |
2,183,035 | Clinton, NJ BANs, 1.000%, 8/5/2022 | 2,194,085 | |
4,360,523 | Cranbury Township, NJ BANs, 1.000%, 9/3/2022 | 4,386,745 | |
5,000,000 | Cresskill Borough, NJ BANs, 1.000%, 10/14/2022 | 5,031,177 | |
5,546,324 | Demarest, NJ BANs, 1.000%, 6/24/2022 | 5,570,248 | |
2,696,515 | Dennis Township, NJ BANs, 1.000%, 6/17/2022 | 2,707,164 | |
7,904,276 | Eatontown, NJ BANs, 1.000%, 11/3/2022 | 7,947,845 | |
2,801,580 | Ewing Township, NJ BANs, 1.000%, 3/30/2022 | 2,807,946 | |
8,040,000 | Fairview, NJ BANs, 1.000%, 8/26/2022 | 8,087,120 | |
20,940,000 | Garden State Preservation Trust, NJ (New Jersey State), Tender Option Bond Trust Receipts (2016-ZF0416) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.130%, 12/2/2021 | 20,940,000 | |
1,094,250 | Gibbsboro, NJ BANs, 1.000%, 6/30/2022 | 1,098,982 | |
6,971,225 | Glassboro Borough, NJ, (Series A) BANs, 1.000%, 8/23/2022 | 7,011,624 | |
3,897,000 | Greenwich Township, NJ, (Series A) BANs, 1.000%, 4/27/2022 | 3,907,938 | |
12,600,000 | Guttenberg, NJ BANs, 1.000%, 10/20/2022 | 12,675,486 | |
6,000,000 | Hillsborough Township, NJ BANs, 1.500%, 2/17/2022 | 6,015,224 | |
3,800,540 | Hopatcong, NJ BANs, 1.000%, 7/22/2022 | 3,818,687 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 6,114,000 | Keyport Borough, NJ BANs, 1.000%, 3/8/2022 | $6,125,186 | |
6,063,000 | Lawrence Township, NJ BANs, 1.000%, 9/23/2022 | 6,101,745 | |
1,273,900 | Lebanon, NJ BANs, 1.000%, 9/13/2022 | 1,281,667 | |
5,188,000 | Logan Township, NJ BANs, 1.000%, 10/19/2022 | 5,219,900 | |
12,000,000 | Maple Shade Township, NJ BANs, 1.000%, 3/31/2022 | 12,034,030 | |
9,700,000 | Margate, NJ BANs, 1.000%, 12/16/2021 | 9,702,378 | |
2,563,303 | Merchantville, NJ, (Series A) BANs, 1.000%, 8/2/2022 | 2,575,606 | |
4,580,000 | Middle Township, NJ BANs, 1.000%, 9/8/2022 | 4,607,785 | |
7,832,673 | Middlesex, NJ, (Series A) BANs, 1.000%, 6/23/2022 | 7,865,418 | |
3,150,000 | Moonachie, NJ BANs, 1.000%, 10/14/2022 | 3,169,068 | |
7,040,000 | New Jersey Economic Development Authority (Yeshiva of North Jersey), (Series 2018) Weekly VRDNs, (Valley National Bank LOC), 0.350%, 12/2/2021 | 7,040,000 | |
2,740,000 | New Jersey EDA (Baptist Home Society of New Jersey) Weekly VRDNs, (Valley National Bank LOC), 0.350%, 12/2/2021 | 2,740,000 | |
3,190,000 | New Jersey EDA (Geriatric Services Housing Corp., Inc. - (CNJJHA Assisted Living)), (Series 2001) Weekly VRDNs, (Valley National Bank LOC), 0.200%, 12/1/2021 | 3,190,000 | |
11,255,000 | New Jersey EDA (Jewish Community Center on the Palisades), (Series 2016) Weekly VRDNs, (Valley National Bank LOC), 0.350%, 12/3/2021 | 11,255,000 | |
1,325,000 | New Jersey EDA (Temple Emanuel of the Pascack Valley), (Series 2001/2019) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.300%, 12/3/2021 | 1,325,000 | |
4,380,000 | New Jersey Health Care Facilities Financing Authority (Christian Health Care Center), (Series A-2) Weekly VRDNs, (Valley National Bank LOC), 0.250%, 12/2/2021 | 4,380,000 | |
14,885,000 | New Jersey State Economic Development Authority (Jewish Community Housing Corporation of Metropolitan New Jersey), (Series 2010) Weekly VRDNs, (Valley National Bank LOC), 0.170%, 12/2/2021 | 14,885,000 | |
2,484,000 | Newton, NJ BANs, 1.000%, 7/20/2022 | 2,495,760 | |
5,754,000 | North Arlington, NJ BANs, 1.250%, 11/10/2022 | 5,799,878 | |
1,900,000 | Oceanport, NJ BANs, 1.000%, 2/24/2022 | 1,903,285 | |
4,627,696 | Pemberton Township, NJ BANs, 1.000%, 6/2/2022 | 4,644,354 | |
4,129,000 | Phillipsburg, NJ BANs, 1.000%, 5/26/2022 | 4,142,875 | |
2,700,000 | Pine Beach, NJ BANs, 1.000%, 10/28/2022 | 2,714,617 | |
3,241,000 | Pitman, NJ BANs, 2.000%, 12/15/2021 | 3,242,981 | |
2,500,000 | Ridgefield Park, NJ BANs, 1.250%, 4/8/2022 | 2,508,211 | |
3,500,000 | Somers Point, NJ BANs, 1.000%, 12/21/2021 | 3,501,069 | |
6,660,000 | Somerville Borough, NJ BANs, 0.750%, 2/3/2022 | 6,665,820 | |
1,466,250 | South Hackensack, NJ BANs, 1.000%, 2/17/2022 | 1,468,625 | |
6,464,075 | South Plainfield, NJ BANs, 1.000%, 8/19/2022 | 6,500,961 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 3,685,000 | South River, NJ, (Series B) BANs, 1.500%, 12/17/2021 | $3,686,769 | |
2,791,925 | South Toms River, NJ BANs, 1.000%, 5/20/2022 | 2,800,858 | |
2,160,395 | Southampton Township, NJ BANs, 1.000%, 7/6/2022 | 2,169,617 | |
3,200,000 | Southampton Township, NJ BANs, 1.000%, 7/6/2022 | 3,213,314 | |
4,174,727 | Stanhope, NJ BANs, 1.000%, 5/19/2022 | 4,188,200 | |
29,512,000 | Stone Harbor, NJ BANs, 1.500%, 10/28/2022 | 29,832,085 | |
2,370,250 | Tabernacle Township, NJ, (Series A) BANs, 1.000%, 12/16/2021 | 2,370,686 | |
3,489,183 | Union Beach, NJ BANs, 1.000%, 2/18/2022 | 3,494,984 | |
2,931,710 | Union Beach, NJ BANs, 1.250%, 10/27/2022 | 2,954,203 | |
4,864,000 | Washington Township (Morris County), NJ BANs, 1.000%, 8/24/2022 | 4,891,227 | |
3,727,978 | Washington Township, NJ (Warren County) BANs, 1.000%, 8/26/2022 | 3,749,821 | |
23,857,041 | West Caldwell Township, NJ BANs, 1.000%, 12/10/2021 | 23,860,788 | |
4,915,750 | West Deptford Township, NJ BANs, 1.000%, 9/1/2022 | 4,945,204 | |
3,691,000 | West Long Branch, NJ BANs, 1.000%, 6/24/2022 | 3,706,092 | |
7,747,500 | Winslow Township, NJ BANs, 1.000%, 9/20/2022 | 7,795,270 | |
6,628,000 | Woodbury, NJ BANs, 1.500%, 12/2/2021 | 6,628,181 | |
7,525,000 | Woodland Park, NJ BANs, 1.500%, 5/27/2022 | 7,568,653 | |
TOTAL | 414,177,500 | ||
New York— 4.9% | |||
12,484,729 | Bainbridge-Guilford, NY Central School District BANs, 1.500%, 6/24/2022 | 12,572,098 | |
2,150,000 | Friendship, NY Central School District BANs, 1.000%, 6/29/2022 | 2,159,500 | |
4,150,000 | Garrison, NY UFSD BANs, 1.000%, 6/30/2022 | 4,167,920 | |
5,900,000 | Greenwich, NY Central School District BANs, 1.000%, 6/29/2022 | 5,926,070 | |
5,590,000 | Hempstead (town), NY IDA MFH (Hempstead Village Housing Associates LP), (Series 2006) Weekly VRDNs, (FNMA LOC), 0.120%, 12/2/2021 | 5,590,000 | |
19,306,330 | Little Falls, NY City School District BANs, 1.500%, 2/4/2022 | 19,349,169 | |
3,790,000 | New Rochelle, NY IDA (180 Union Avenue Owner LP), (Series 2006: West End Phase I Facility) Weekly VRDNs, (Citibank N.A., New York LOC), 0.140%, 12/2/2021 | 3,790,000 | |
33,370,000 | New York City, NY Transitional Finance Authority, Stage Trust 3a-7 (Series 2020-002) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 33,370,000 | |
15,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 15,000,000 | |
6,000,000 | New York State Energy Research & Development Authority (National Grid Generation LLC), (1997 Series A) Weekly VRDNs, (NatWest Markets PLC LOC), 0.110%, 12/1/2021 | 6,000,000 | |
2,200,000 | New York State HFA (100 Maiden Lane), (2004 Series A) Weekly VRDNs, (Federal National Mortgage Association LOC), 0.040%, 12/1/2021 | 2,200,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 10,000,000 | New York Transportation Development Corporation (LaGuardia Gateway Partners, LLC), Tender Option Bond Trust Receipts (Series 2016-XM0403) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 0.430%, 12/2/2021 | $10,000,000 | |
6,000,000 | Watertown, NY Enlarged City School District BANs, 1.000%, 6/28/2022 | 6,025,698 | |
6,000,000 | Wayne, NY Central School District BANs, 1.000%, 6/29/2022 | 6,026,167 | |
TOTAL | 132,176,622 | ||
North Carolina— 1.7% | |||
25,100,000 | Hertford County, NC Industrial Facilities & PCFA (Nucor Corp.), (Series 2000A) Weekly VRDNs, 0.100%, 12/1/2021 | 25,100,000 | |
1,200,000 | Hertford County, NC Industrial Facilities & PCFA (Nucor Corp.), (Series 2000B) Weekly VRDNs, 0.100%, 12/1/2021 | 1,200,000 | |
17,475,000 | Person County, NC Industrial Facilities & PCFA (Certainteed Gypsum, Inc.), (Series 2010) Weekly VRDNs, (Credit Industriel et Commercial LOC), 0.090%, 12/2/2021 | 17,475,000 | |
3,000,000 | Yancey County, NC Industrial Facilities & PCFA (Altec Industries, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 0.180%, 12/2/2021 | 3,000,000 | |
TOTAL | 46,775,000 | ||
Ohio— 1.7% | |||
30,470,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 30,470,000 | |
8,100,000 | Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Barclays Golden Blue (Series 2020-002) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 8,100,000 | |
7,000,000 | Toledo-Lucas County, OH Port Authority (Van Deurzen Dairy LLC), (Series 2006) Weekly VRDNs, (AgriBank FCB LOC), 0.100%, 12/2/2021 | 7,000,000 | |
TOTAL | 45,570,000 | ||
Pennsylvania— 2.2% | |||
26,500,000 | Blackrock MuniYield Pennsylvania Quality Fund, (663 Series W-7 VRDP Shares) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.130%, 12/2/2021 | 26,500,000 | |
795,000 | East Hempfield Township, PA IDA (BGT Realty), (Series of 2005) Weekly VRDNs, (Fulton Bank, N.A. LOC), 0.460%, 12/2/2021 | 795,000 | |
16,000,000 | Montgomery County, PA IDA (Lonza, Inc.), (Series 2000) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.110%, 12/2/2021 | 16,000,000 | |
9,325,000 | Pennsylvania State Turnpike Commission, RBC Muni Products (Series G-43) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 12/1/2021 | 9,325,000 | |
4,070,000 | Philadelphia, PA Airport System, Tender Option Bond Trust Receipts (Series 2017-XG0159) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.130%, 12/2/2021 | 4,070,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$ 2,000,000 | Philadelphia, PA Authority for Industrial Development (Susquehanna Net Zero Housing, L.P.), Tender Option Bond Trust Floater Certificates (2020-MIZ9051) VRENs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 0.300%, 12/2/2021 | $2,000,000 | |
TOTAL | 58,690,000 | ||
South Carolina— 1.5% | |||
21,500,000 | Berkeley County, SC IDB (Nucor Corp.) Weekly VRDNs, 0.100%, 12/1/2021 | 21,500,000 | |
10,100,000 | Berkeley County, SC IDB (Nucor Corp.), (Series 1997) Weekly VRDNs, 0.100%, 12/1/2021 | 10,100,000 | |
2,815,000 | South Carolina State Public Service Authority (Santee Cooper) (Santee Cooper), CDI Net Liquidity (Series 2020-XL0154) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.130%, 12/2/2021 | 2,815,000 | |
4,900,000 | South Carolina State Public Service Authority (Santee Cooper) (Santee Cooper), CDI Net Liquidity (Series 2020-YX1157) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.130%, 12/2/2021 | 4,900,000 | |
TOTAL | 39,315,000 | ||
South Dakota— 0.1% | |||
3,000,000 | South Dakota Value Added Finance Authority (Prairie Gold Dairy LLC), (Series 2004) Weekly VRDNs, (CoBank, ACB LOC), 0.100%, 12/2/2021 | 3,000,000 | |
Tennessee— 1.0% | |||
25,620,000 | Memphis-Shelby County, TN Industrial Development Board - PCRB (Nucor Steel Memphis, Inc.), (Series 2007) Weekly VRDNs, (GTD by Nucor Corp.), 0.100%, 12/1/2021 | 25,620,000 | |
Texas— 6.3% | |||
5,000,000 | Alamo, TX CCD, RBC Muni Products (Series G-111) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 5/2/2022 | 5,000,000 | |
4,000,000 | Jewett, TX Economic Development Corporation (Nucor Corp.), (Series 2003) Weekly VRDNs, 0.100%, 12/1/2021 | 4,000,000 | |
9,000,000 | North Texas Tollway Authority, RBC Municipal Products Trust (Series 2019 G-112) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 9,000,000 | |
25,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002A) Weekly VRDNs, 0.130%, 12/1/2021 | 25,000,000 | |
12,500,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2003) Weekly VRDNs, 0.160%, 12/1/2021 | 12,500,000 | |
21,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2005) Weekly VRDNs, 0.160%, 12/1/2021 | 21,000,000 | |
42,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2006) Weekly VRDNs, 0.160%, 12/1/2021 | 42,000,000 | |
35,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2007) Weekly VRDNs, 0.160%, 12/1/2021 | 35,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 15,000,000 | Texas State Department of Housing & Community Affairs (Onion Creek Housing Partners Ltd.), (Series 2007) Weekly VRDNs, (FNMA LOC), 0.150%, 12/2/2021 | $15,000,000 | |
TOTAL | 168,500,000 | ||
Utah— 0.6% | |||
15,240,000 | Emery County, UT (Pacificorp), PCRB (Series 1994) Weekly VRDNs, 0.090%, 12/1/2021 | 15,240,000 | |
500,000 | Salt Lake County, UT Training Facilities (Community Foundation For The Disabled, Inc.), (Series 2000) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.200%, 12/2/2021 | 500,000 | |
TOTAL | 15,740,000 | ||
Virginia— 0.2% | |||
2,055,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0916) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 2,055,000 | |
3,145,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0928) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 3,145,000 | |
TOTAL | 5,200,000 | ||
Washington— 0.1% | |||
1,470,000 | Washington State EDFA (Mesa Dairy, LLC), (Series 2007E) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 0.100%, 12/2/2021 | 1,470,000 | |
Wisconsin— 0.5% | |||
6,000,000 | Public Finance Authority, WI (Bradford Preparatory School), Tender Option Bond Trust Receipts (2020-XF2887) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.250%, 12/2/2021 | 6,000,000 | |
1,200,000 | Public Finance Authority, WI (Carolina Charter Academy, Inc.), Tender Option Bond Trust Receipts (Series 2021-XF2931) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,200,000 | |
1,650,000 | Public Finance Authority, WI (DCA Lexington Properties, LLC), Tender Option Bond Trust Receipts (Series 2021-XF2933) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,650,000 | |
1,000,000 | Wausau, WI IDA (Apogee Enterprises, Inc.), (Series 2002) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.160%, 12/2/2021 | 1,000,000 | |
790,000 | West Bend, WI IDA (Jackson Concrete, Inc.), (Series 2006) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.360%, 12/2/2021 | 790,000 | |
2,675,000 | Wisconsin State Public Finance Authority (Birchwood Properties LP), (Series 2016) Weekly VRDNs, (FHLB of Des Moines LOC), 0.270%, 12/2/2021 | 2,675,000 | |
TOTAL | 13,315,000 |
Principal Amount | Value | ||
MUNICIPAL BONDS— 0.1% | |||
New Jersey— 0.1% | |||
$ 1,800,000 | Hillsdale Borough, NJ BANs, 1.000%, 12/2/2022 | $1,810,530 | |
TOTAL INVESTMENT IN SECURITIES—100.5% (AT AMORTIZED COST)2 | 2,687,827,652 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.5)%3 | (14,253,541) | ||
TOTAL NET ASSETS—100% | $2,673,574,111 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost of investments for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CCD | —Community College District | |
CP | —Commercial Paper | |
EDA | —Economic Development Authority | |
EDFA | —Economic Development Finance Authority | |
EDRB | —Economic Development Revenue Bond | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDRB | —Industrial Development Revenue Bond | |
IDRBs | —Industrial Development Revenue Bonds | |
IFA | —Industrial Finance Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCFA | —Pollution Control Finance Authority | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
TOBs | —Tender Option Bonds | |
UFSD | —Union Free School District | |
USD | —United States Dollar | |
VMTP | —Variable Municipal Term Preferred | |
VRDNs | —Variable Rate Demand Notes | |
VRDP | —Variable Rate Demand Preferred | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.001 | 0.012 | 0.0133 | 0.011 | 0.001 | 0.001 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.001 | 0.0002 | 0.0002 | 0.001 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.001 | 0.013 | 0.013 | 0.011 | 0.002 | 0.001 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.001) | (0.013) | (0.013) | (0.011) | (0.001) | (0.001) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) | (0.000)2 |
Total Distributions | (0.000)2 | (0.001) | (0.013) | (0.013) | (0.011) | (0.002) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.000 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.13% | 1.27% | 1.27% | 1.12% | 0.72% | 0.17% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.17%6 | 0.21% | 0.21% | 0.21%6 | 0.21% | 0.21% | 0.17%7 |
Net investment income | 0.01%6 | 0.12% | 1.24% | 1.52%6 | 1.10% | 0.64% | 0.11% |
Expense waiver/ reimbursement8 | 0.13%6 | 0.09% | 0.09% | 0.09%6 | 0.10% | 0.11% | 0.14% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $1,143,880 | $1,372,803 | $1,510,434 | $1,713,390 | $1,163,568 | $667,169 | $1,003,993 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Per share numbers have been calculated using the average shares method. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended July 31, 2016, was 0.17% after taking into account this expense reduction. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
November 30, 2021 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $2,687,827,652 |
Cash | 671,408 |
Income receivable | 2,615,479 |
Receivable for shares sold | 37,183 |
Total Assets | 2,691,151,722 |
Liabilities: | |
Payable for investments purchased | 15,210,530 |
Payable for shares redeemed | 2,132,472 |
Income distribution payable | 1,660 |
Payable for investment adviser fee (Note 4) | 5,120 |
Payable for administrative fee (Note 4) | 5,733 |
Payable for other service fees (Notes 2 and 4) | 9,140 |
Accrued expenses (Note 4) | 212,956 |
Total Liabilities | 17,577,611 |
Net assets for 2,673,482,922 shares outstanding | $2,673,574,111 |
Net Assets Consist of: | |
Paid-in capital | $2,673,462,610 |
Total distributable earnings (loss) | 111,501 |
Total Net Assets | $2,673,574,111 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$671,338,937 ÷ 671,316,057 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Shares: | |
$4,213,429 ÷ 4,213,285 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$1,143,880,067 ÷ 1,143,841,042 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$284,802,008 ÷ 284,792,272 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$73,970,366 ÷ 73,967,845 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$249,484,019 ÷ 249,475,517 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$245,885,285 ÷ 245,876,904 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2021 (unaudited)
Investment Income: | |
Interest | $2,564,335 |
Expenses: | |
Investment adviser fee (Note 4) | 2,811,233 |
Administrative fee (Note 4) | 1,100,485 |
Custodian fees | 43,920 |
Transfer agent fees (Note 2) | 547,701 |
Directors’/Trustees’ fees (Note 4) | 8,503 |
Auditing fees | 11,492 |
Legal fees | 10,840 |
Portfolio accounting fees | 134,616 |
Distribution services fee (Note 4) | 991,456 |
Other service fees (Notes 2 and 4) | 1,745,569 |
Share registration costs | 75,533 |
Printing and postage | 23,816 |
Miscellaneous (Note 4) | 11,437 |
TOTAL EXPENSES | 7,516,601 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 4) | (1,841,808) |
Waivers/reimbursements of other operating expenses (Notes 2 and 4) | (3,251,797) |
TOTAL WAIVERS AND REIMBURSEMENTS | (5,093,605) |
Net expenses | 2,422,996 |
Net investment income | $141,339 |
Net realized gain on investments | 23,974 |
Change in net assets resulting from operations | $165,313 |
Six Months Ended (unaudited) 11/30/2021 | Year Ended 5/31/2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $141,339 | $2,680,484 |
Net realized gain (loss) | 23,974 | 87,172 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 165,313 | 2,767,656 |
Distributions to Shareholders: | ||
Automated Shares | (33,583) | (82,942) |
Investment Shares | (217) | (976) |
Wealth Shares | (63,048) | (2,328,392) |
Service Shares | (12,839) | (97,518) |
Cash II Shares | (3,770) | (6,463) |
Cash Series Shares | (14,235) | (29,175) |
Capital Shares | (13,657) | (228,477) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (141,349) | (2,773,943) |
Share Transactions: | ||
Proceeds from sale of shares | 1,366,188,669 | 5,768,486,888 |
Net asset value of shares issued to shareholders in payment of distributions declared | 130,809 | 2,386,409 |
Cost of shares redeemed | (1,661,532,548) | (6,302,848,809) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (295,213,070) | (531,975,512) |
Change in net assets | (295,189,106) | (531,981,799) |
Net Assets: | ||
Beginning of period | 2,968,763,217 | 3,500,745,016 |
End of period | $2,673,574,111 | $2,968,763,217 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $343,481 | $— | $(335,418) |
Investment Shares | 2,086 | — | (2,034) |
Wealth Shares | 14,181 | — | — |
Service Shares | 2,926 | — | — |
Cash II Shares | 36,350 | — | (35,445) |
Cash Series Shares | 145,564 | (42,695) | (99,505) |
Capital Shares | 3,113 | (3) | — |
TOTAL | $547,701 | $(42,698) | $(472,402) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $839,542 | $— | $(839,542) |
Investment Shares | 5,389 | — | (5,389) |
Service Shares | 314,064 | — | (313,908) |
Cash II Shares | 94,351 | — | (94,351) |
Cash Series Shares | 355,802 | — | (355,802) |
Capital Shares | 136,421 | (1,221) | (135,028) |
TOTAL | $1,745,569 | $(1,221) | $(1,744,020) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Automated Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 161,572 | $161,572 | 420,871 | $420,871 |
Shares issued to shareholders in payment of distributions declared | 34 | 34 | 83 | 83 |
Shares redeemed | (173,517) | (173,517) | (556,273) | (556,273) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (11,911) | $(11,911) | (135,319) | $(135,319) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Investment Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 3,100 | $3,100 | 17,902 | $17,902 |
Shares issued to shareholders in payment of distributions declared | — | — | 1 | 1 |
Shares redeemed | (3,643) | (3,643) | (24,259) | (24,259) |
NET CHANGE RESULTING FROM INVESTMENT SHARE TRANSACTIONS | (543) | $(543) | (6,356) | $(6,356) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 606,405 | $606,405 | 3,727,752 | $3,727,752 |
Shares issued to shareholders in payment of distributions declared | 55 | 55 | 1,950 | 1,950 |
Shares redeemed | (835,392) | (835,392) | (3,867,332) | (3,867,332) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (228,932) | $(228,932) | (137,630) | $(137,630) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 294,896 | $294,896 | 597,196 | $597,196 |
Shares issued to shareholders in payment of distributions declared | 11 | 11 | 89 | 89 |
Shares redeemed | (265,893) | (265,893) | (857,490) | (857,490) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 29,014 | $29,014 | (260,205) | $(260,205) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Cash II Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 16,750 | $16,750 | 84,333 | $84,333 |
Shares issued to shareholders in payment of distributions declared | 4 | 4 | 6 | 6 |
Shares redeemed | (16,908) | (16,908) | (54,921) | (54,921) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (154) | $(154) | 29,418 | $29,418 |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Cash Series Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 200,732 | $200,732 | 551,188 | $551,188 |
Shares issued to shareholders in payment of distributions declared | 13 | 13 | 29 | 29 |
Shares redeemed | (239,378) | (239,378) | (503,548) | (503,548) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (38,633) | $(38,633) | 47,669 | $47,669 |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Capital Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 82,734 | $82,734 | 369,245 | $369,245 |
Shares issued to shareholders in payment of distributions declared | 14 | 14 | 227 | 227 |
Shares redeemed | (126,802) | (126,802) | (439,025) | (439,025) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (44,054) | $(44,054) | (69,553) | $(69,553) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (295,213) | $(295,213) | (531,976) | $(531,976) |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Percentage of Average Daily Net Assets of Class | |
Investment Shares | 0.25% |
Cash II Shares | 0.35% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Investment Shares | $5,389 | $(5,389) |
Cash II Shares | 132,142 | (132,142) |
Cash Series Shares | 853,925 | (853,925) |
TOTAL | $991,456 | $(991,456) |
Beginning Account Value 6/1/2021 | Ending Account Value 11/30/2021 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.10 | $20.85 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.22 | $20.86 |
1 | Expenses are equal to the Fund’s Wealth Shares annualized net expense ratio of 0.17%, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half-year period). |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Wealth Shares current Fee Limit of 0.21% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.05 and $1.07, respectively. |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Share Class | Ticker | Wealth | TBIXX | Advisor | TBVXX | Service | TBSXX |
Federated Hermes Tax-Free Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 72.4% |
Municipal Notes | 19.4% |
Commercial Paper | 10.0% |
Other Assets and Liabilities—Net2 | (1.8)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 63.7% |
8-30 Days | 0.4% |
31-90 Days | 21.9% |
91-180 Days | 6.0% |
181 Days or more | 9.8% |
Other Assets and Liabilities—Net2 | (1.8)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 101.8% | ||
Alabama— 5.4% | |||
$ 4,000,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 0.050%, 12/1/2021 | $4,000,000 | |
40,000,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-D) Weekly VRDNs, 0.140%, 12/1/2021 | 40,000,000 | |
3,275,000 | Cooperative District of Fort Spanish, AL, Tender Option Bond Trust Receipts (Series 2021-XF2959) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 3,275,000 | |
6,135,000 | Huntsville, AL Health Care Authority, (Series 2020-XG0301) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | 6,135,000 | |
44,300,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 0.140%, 12/1/2021 | 44,300,000 | |
33,810,000 | West Jefferson, AL IDB PCRB (Alabama Power Co.), (Series 1998) Weekly VRDNs, 0.130%, 12/2/2021 | 33,810,000 | |
TOTAL | 131,520,000 | ||
Arizona— 0.1% | |||
2,340,000 | Arizona State IDA (Colorado Military Academy Building Corp.), Tender Option Bond Trust Receipts (Series 2021-XF2941) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 2,340,000 | |
California— 8.6% | |||
1,670,000 | ABAG Finance Authority for Non-Profit Corporations, CA (Ecology Action of Santa Cruz), (Series 2010) Weekly VRDNs, (Comerica Bank LOC), 0.070%, 12/2/2021 | 1,670,000 | |
2,800,000 | California Enterprise Development Authority (Humane Society Silicon Valley), (Series 2008) Weekly VRDNs, (FHLB of San Francisco LOC), 0.070%, 12/2/2021 | 2,800,000 | |
40,000,000 | California Health Facilities Financing Authority (Dignity Health (Catholic Healthcare West)), Golden Blue (Series 2017-004) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 40,000,000 | |
11,015,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 0.110%, Mandatory Tender 3/8/2022 | 11,015,000 | |
17,450,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.120%, Mandatory Tender 2/15/2022 | 17,450,000 | |
7,310,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.110%, Mandatory Tender 3/8/2022 | 7,310,000 | |
12,395,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.120%, Mandatory Tender 3/3/2022 | 12,395,000 | |
20,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 0.170%, Mandatory Tender 12/7/2021 | 20,000,000 | |
8,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.100%, Mandatory Tender 1/13/2022 | 8,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 17,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.110%, Mandatory Tender 2/3/2022 | $17,000,000 | |
1,700,000 | California Statewide Communities Development Authority (Pacific Collegiate Foundation), (Series 2016) Weekly VRDNs, (Comerica Bank LOC), 0.070%, 12/2/2021 | 1,700,000 | |
13,200,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2021 Series A: One Uptown Newport Apartments) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.110%, 12/2/2021 | 13,200,000 | |
6,500,000 | Folsom Cordova, CA USD (School Facilities Improvement District No. 3), Tender Option Bond Trust Certificates (Series 2019-XM0744) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.090%, 12/2/2021 | 6,500,000 | |
2,500,000 | Los Angeles County, CA Metropolitan Transportation Authority, (Second Subordinate Sales Tax Revenue, Series A-TE-Barclays) (Proposition A), CP, (Barclays Bank PLC LOC), 0.060%, Mandatory Tender 12/1/2021 | 2,500,000 | |
10,000,000 | River Islands, CA Public Financing Authority (River Islands, CA Public Financing Authority-Community Facilities District No. 2015-1), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9002) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 10,000,000 | |
2,200,000 | San Diego County, CA (Museum of Contemporary Art San Diego), (Series 2004) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.070%, 12/2/2021 | 2,200,000 | |
5,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.090%, Mandatory Tender 12/3/2021 | 5,000,000 | |
13,400,000 | San Francisco, CA City and County (Transbay Block 8 Tower Apartments Obligated Group), Mizuho 3a-7 (2021-MIZ9063) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 13,400,000 | |
8,490,000 | Twin Rivers, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2442) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.090%, 12/2/2021 | 8,490,000 | |
10,300,000 | University of California (The Regents of), Tender Option Bond Trust Certificates (Series 2018-ZF2670) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.080%, 12/2/2021 | 10,300,000 | |
TOTAL | 210,930,000 | ||
Colorado— 0.8% | |||
17,570,000 | Colorado Health Facilities Authority (Children’s Hospital Colorado Obligated Group), PUTTERs (Series 5008) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 17,570,000 | |
1,294,312 | Colorado HFA (Steele San Juan, LLC), Mizuho 3a-7 (Series 2021-MIZ9068) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 1,294,312 | |
TOTAL | 18,864,312 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Connecticut— 1.8% | |||
$ 26,815,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | $26,815,000 | |
8,500,000 | Regional School District No. 14, CT BANs, 1.000%, 4/21/2022 | 8,524,541 | |
3,875,000 | Regional School District #19, CT BANs, 1.750%, 6/9/2022 | 3,906,473 | |
3,765,000 | Shelton, CT Housing Authority (Crosby Commons), (Series 1998) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.150%, 12/2/2021 | 3,765,000 | |
TOTAL | 43,011,014 | ||
Florida— 8.8% | |||
6,405,000 | Clearwater, FL Water and Sewer Authority, Solar Eclipse (Series 2017-0014) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.040%, 12/1/2021 | 6,405,000 | |
25,000,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.), (First Series 2009) Daily VRDNs, 0.050%, 12/1/2021 | 25,000,000 | |
1,400,000 | Florida Development Finance Corp. (Navigator Academy of Leadership, Inc.), Tender Option Bond Trust Receipts (2021-XF2945) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,400,000 | |
11,500,000 | Hillsborough County, FL IDA (Baycare Health System), (Series 2020B) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 11,500,000 | |
10,000,000 | Jacksonville, FL PCR (Florida Power & Light Co.), (Series 1994), CP, 0.120%, Mandatory Tender 1/19/2022 | 10,000,000 | |
24,760,000 | Jacksonville, FL PCR (Florida Power & Light Co.), (Series 1994), CP, 0.120%, Mandatory Tender 1/19/2022 | 24,760,000 | |
20,300,000 | Jacksonville, FL PCR (Florida Power & Light Co.), Pollution Control Revenue Refunding Bonds (Series 1992), CP, 0.120%, Mandatory Tender 1/19/2022 | 20,300,000 | |
6,425,000 | JEA, FL Electric System, (Series Three 2008A) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.050%, 12/1/2021 | 6,425,000 | |
2,495,000 | Miami-Dade County, FL HFA (Cordoba FL TC, LP), Mizuho 3a-7 (2021-MIZ9072) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 2,495,000 | |
10,000 | Orange County, FL HFA (Post Fountains at Lee Vista), (Series 1997E) Weekly VRDNs, (FNMA LOC), 0.050%, 12/1/2021 | 10,000 | |
16,500,000 | Polk County, FL IDA (Baycare Health System), (Series 2014A-2) VRENs, 0.350%, 12/2/2021 | 16,500,000 | |
38,550,000 | St. Lucie County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 0.030%, 12/1/2021 | 38,550,000 | |
7,000,000 | Tampa-Hillsborough County, FL Expressway Authority, RBC Muni Products (Series G-113) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 7,000,000 | |
45,100,000 | Volusia County, FL Hospital Authority (Halifax Hospital Medical Center, FL), PUTTERs 3a-7 (Series 5032) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 45,100,000 | |
TOTAL | 215,445,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Georgia— 0.5% | |||
$ 2,460,000 | Brookhaven Development Authority, GA (Children’s Healthcare of Atlanta, Inc.), Tender Option Bond Trust Receipts (Series 2019-XG0224) Weekly VRDNs, (Bank of America N.A. LIQ), 0.080%, 12/2/2021 | $2,460,000 | |
1,450,000 | Georgia State HFA, Tender Option Bond Trust Receipts (2020-ZF0783) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.100%, 12/2/2021 | 1,450,000 | |
7,285,000 | Georgia State HFA, Tender Option Bond Trust Receipts (Series 2018-ZF0653) Weekly VRDNs, (Bank of America N.A. LIQ), 0.090%, 12/2/2021 | 7,285,000 | |
1,800,000 | Savannah, GA EDA (Calvary Day School), (Series 2006) Weekly VRDNs, (Truist Bank LOC), 0.110%, 12/1/2021 | 1,800,000 | |
TOTAL | 12,995,000 | ||
Hawaii— 0.3% | |||
7,520,000 | Hawaii State Department of Budget & Finance (Queen’s Health Systems), (2015 Series B) VRENs, 0.500%, 12/2/2021 | 7,520,000 | |
Idaho— 0.4% | |||
9,235,000 | Idaho Health Facilities Authority (Trinity Healthcare Credit Group), (Series 2013ID) TOBs, 0.100%, Mandatory Tender 2/1/2022 | 9,235,000 | |
Illinois— 3.4% | |||
600,000 | Chicago, IL MFH Revenue (Churchview Manor Senior Apartments), (Series 2012) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 0.240%, 12/2/2021 | 600,000 | |
2,500,000 | Chicago, IL Park District, Tender Optio Bond Trust Certificates (Series 2021-XX1168) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 0.120%, 12/2/2021 | 2,500,000 | |
2,000,000 | Chicago, IL Park District, Tender Option Bond Trust Certificates (Series 2021-XX1169) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 0.120%, 12/2/2021 | 2,000,000 | |
16,000,000 | Chicago, IL Sales Tax, Tender Option Bond Trust Receipt (Series 2019-XF0779) Weekly VRDNs, (Build America Mutual Assurance INS)/(Toronto Dominion Bank LIQ), 0.100%, 12/2/2021 | 16,000,000 | |
10,975,000 | Macon County, IL School District #61 (Decatur), Tender Option Bond Trust Certificates (Series 2020-XM0855) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 10,975,000 | |
16,500,000 | Metropolitan Pier & Exposition Authority, IL, Tender Option Bond Trust Receipts (2021-MS0001) TOBs, (Morgan Stanley Bank, N.A. LIQ)/(Morgan Stanley Bank, N.A. LOC), 0.170%, Optional Tender 2/3/2022 | 16,500,000 | |
33,750,000 | Sales Tax Securitization Corp., IL, Tender Option Bond Trust Certificates (Series 2018-XM0714) Weekly VRDNs, (Build America Mutual Assurance INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 33,750,000 | |
TOTAL | 82,325,000 | ||
Indiana— 1.5% | |||
20,640,000 | Indiana Development Finance Authority (Archer-Daniels-Midland Co.), (Series 2012) Weekly VRDNs, 0.080%, 12/1/2021 | 20,640,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Indiana— continued | |||
$ 17,040,000 | Indiana State Finance Authority (Indiana State), Stage Trust (Series 2020-004) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | $17,040,000 | |
TOTAL | 37,680,000 | ||
Iowa— 0.3% | |||
6,935,000 | Iowa Finance Authority - Health Facilities (UnityPoint Health), (Series 2013B-1) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 6,935,000 | |
Kentucky— 1.0% | |||
17,865,000 | Georgetown, KY (Georgetown College), (Series 2006) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.110%, 12/3/2021 | 17,865,000 | |
7,500,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 5/2/2022 | 7,500,000 | |
TOTAL | 25,365,000 | ||
Louisiana— 2.2% | |||
16,000,000 | Baton Rouge, LA Industrial Development Board (Exxon Mobil Corp.), (Series 2010A) Daily VRDNs, (GTD by Exxon Mobil Corp.), 0.030%, 12/1/2021 | 16,000,000 | |
12,900,000 | Baton Rouge, LA Industrial Development Board (Exxon Mobil Corp.), (Series 2010B) Daily VRDNs, 0.030%, 12/1/2021 | 12,900,000 | |
910,000 | Louisiana Local Government Environmental Facilities CDA (The Academy of the Sacred Heart of New Orleans), (Series 2004) Weekly VRDNs, (FHLB of Dallas LOC), 0.080%, 12/1/2021 | 910,000 | |
3,100,000 | Louisiana State Housing Corporation (Peace Lake Louisiana Tower Community L.P.), Tender Option Bond Trust Floater Certificates (Series 2020-MIZ9053) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,100,000 | |
21,260,000 | Shreveport, LA Water & Sewer, Tender Option Bond Trust Certificates (Series 2019-ZF2818) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 21,260,000 | |
TOTAL | 54,170,000 | ||
Maryland— 1.3% | |||
7,500,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 7,500,000 | |
4,345,000 | Maryland State Health & Higher Educational Facilities Authority (Greater Baltimore Medical Center), Tender Option Bond Trust Receipts (Series 2021-XG0335) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.080%, 12/2/2021 | 4,345,000 | |
20,475,000 | Montgomery County, MD (Trinity Healthcare Credit Group), (Series 2013MD) TOBs, 0.100%, Mandatory Tender 3/1/2022 | 20,475,000 | |
TOTAL | 32,320,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Michigan— 1.8% | |||
$ 5,000,000 | Eastern Michigan University (Board of Regents of), Tender Option Bond Trust Certificates (Series 2018-ZF2620) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | $5,000,000 | |
4,000,000 | Jackson County, MI Public Schools, Tender Option Bond Trust Receipts (Series 2018-XF2650) Weekly VRDNs, (Bank of America N.A. LIQ)/(Michigan School Bond Qualification and Loan Program COL), 0.150%, 12/2/2021 | 4,000,000 | |
4,000,000 | Michigan Finance Authority 2nd Lien Distributable State Aid (Wayne County, MI), (Series 2021-XM0934) Weekly VRDNs, (GTD by Michigan State)/(Royal Bank of Canada LIQ), 0.100%, 12/2/2021 | 4,000,000 | |
3,500,000 | Michigan State Building Authority, (Series III) VRENs, 0.090%, 12/1/2021 | 3,500,000 | |
2,670,000 | Michigan State Finance Authority Revenue (McLaren Health Care Corp.), Tender Option Bond Trust Receipts (Series 2019-ZF0784) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 12/2/2021 | 2,670,000 | |
3,335,000 | Michigan State Finance Authority Revenue (McLaren Health Care Corp.), Tender Option Bond Trust Receipts (Series 2019-ZF0790) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 12/2/2021 | 3,335,000 | |
15,375,000 | Michigan State Finance Authority Revenue (Trinity Healthcare Credit Group), (Series 2013MI-1) TOBs, 0.100%, Mandatory Tender 3/1/2022 | 15,375,000 | |
350,000 | Michigan State Strategic Fund (Henry Ford Museum & Greenfield Village) Daily VRDNs, (Comerica Bank LOC), 0.050%, 12/1/2021 | 350,000 | |
3,035,000 | Michigan Strategic Fund (Washtenaw Christian Academy), (Series 2008) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.110%, 12/3/2021 | 3,035,000 | |
4,000,000 | Trenton, MI Public Schools, Tender Option Bond Trust Receipts (Series 2018-XF2651) Weekly VRDNs, (Bank of America N.A. LIQ)/(GTD by Michigan School Bond Qualification and Loan Program), 0.150%, 12/2/2021 | 4,000,000 | |
TOTAL | 45,265,000 | ||
Mississippi— 1.0% | |||
4,670,000 | Mississippi Business Finance Corp. (Gulf Power Co.), (1st Series 2019) Daily VRDNs, 0.040%, 12/1/2021 | 4,670,000 | |
1,393,000 | Mississippi Home Corp. (Jackson Manor Preservation LP), Tender Option Bond Trust Receipts (Series 2021-XF2936) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,393,000 | |
17,600,000 | Perry County, MS (Leaf River Cellulose LLC), (Series 2021) Weekly VRDNs, (GTD by Georgia-Pacific LLC), 0.110%, 12/2/2021 | 17,600,000 | |
TOTAL | 23,663,000 | ||
Missouri— 0.8% | |||
2,500,000 | Lees Summit, MO IDA (EPD3 Ashbrooke LP), (Series 2020 MIZ9055) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 2,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Missouri— continued | |||
$ 7,500,000 | Missouri State Health and Educational Facilities Authority Health Facilities (Mercy Health Systems), (Series 2020-XG0300) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | $7,500,000 | |
10,000,000 | Missouri State HEFA (Stowers Institute for Medical Research), RBC Muni Products (Series 2018 C-16) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.110%, 12/2/2021 | 10,000,000 | |
TOTAL | 20,000,000 | ||
Montana— 0.2% | |||
3,800,000 | Montana State Board of Housing (HRDC IX Affordable Housing Solutions LP), Mizuho 3a-7 (2021-MIZ9061) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,800,000 | |
Multi-State— 13.8% | |||
122,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Societe Generale, Paris LIQ), 0.110%, 12/2/2021 | 122,000,000 | |
115,400,000 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund, (Series 2) Weekly VRDPs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 12/2/2021 | 115,400,000 | |
100,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.100%, 12/2/2021 | 100,000,000 | |
TOTAL | 337,400,000 | ||
Nebraska— 0.9% | |||
21,600,000 | Washington County, NE (Cargill, Inc.), (Series 2010) Weekly VRDNs, 0.090%, 12/2/2021 | 21,600,000 | |
New Jersey— 7.3% | |||
4,750,000 | Alpha Borough, NJ BANs, 1.000%, 3/4/2022 | 4,758,065 | |
4,000,000 | Bloomfield Township, NJ BANs, 1.000%, 3/29/2022 | 4,009,557 | |
5,879,800 | Caldwell Borough, NJ BANs, 1.500%, 4/1/2022 | 5,903,112 | |
11,140,000 | Clark Township, NJ BANs, 1.000%, 12/2/2022 | 11,208,734 | |
4,889,000 | Cresskill Borough, NJ BANs, 1.000%, 10/14/2022 | 4,919,485 | |
17,231,708 | East Hanover Township, NJ, (Series A) BANs, 1.500%, 8/12/2022 | 17,387,236 | |
1,995,000 | Eastampton Township, NJ BANs, 1.000%, 7/28/2022 | 2,004,641 | |
3,491,000 | Englewood Cliffs, NJ BANs, 1.000%, 11/10/2022 | 3,511,313 | |
6,235,779 | Englewood Cliffs, NJ BANs, 1.000%, 2/18/2022 | 6,246,552 | |
3,836,000 | Florham Park, NJ, (Series B) BANs, 1.500%, 9/2/2022 | 3,869,144 | |
2,369,464 | Franklin Borough, NJ BANs, 1.000%, 7/29/2022 | 2,381,118 | |
4,931,625 | Glen Ridge, NJ BANs, 1.000%, 7/15/2022 | 4,954,771 | |
1,515,900 | Hillside Township, NJ BANs, 1.000%, 5/27/2022 | 1,520,950 | |
3,000,000 | Ho-Ho-Kus, NJ BANs, 1.250%, 5/6/2022 | 3,012,527 | |
6,299,000 | Holmdel Township, NJ BANs, 1.000%, 2/11/2022 | 6,308,833 | |
3,770,000 | Kenilworth, NJ BANs, 1.000%, 3/4/2022 | 3,776,791 | |
5,000,000 | Logan Township, NJ BANs, 1.000%, 10/19/2022 | 5,030,744 | |
9,409,000 | Long Branch, NJ BANs, 0.750%, 2/2/2022 | 9,417,094 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 9,815,000 | New Jersey Health Care Facilities Financing Authority (AHS Hospital Corp.), (Series 2008B) Weekly VRDNs, (Bank of America N.A. LOC), 0.070%, 12/2/2021 | $9,815,000 | |
7,500,000 | New Jersey Turnpike Authority, RBC Muni Products (Series G-119) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.200%, Optional Tender 1/3/2022 | 7,500,000 | |
4,084,000 | Ocean Township, NJ (Ocean County) BANs, 1.000%, 9/8/2022 | 4,109,096 | |
14,520,000 | Pennsauken Township, NJ, (Series A) BANs, 1.000%, 6/8/2022 | 14,576,243 | |
5,274,500 | Pequannock Township, NJ BANs, 1.000%, 7/13/2022 | 5,299,036 | |
3,800,158 | Runnemede, NJ, (Series A) BANs, 1.000%, 6/28/2022 | 3,815,781 | |
4,687,000 | South Orange ViIlage Township, NJ BANs, 1.000%, 12/17/2021 | 4,688,144 | |
5,006,000 | Spotswood, NJ BANs, 1.250%, 12/15/2021 | 5,007,576 | |
14,304,000 | Teaneck, NJ BANs, 1.000%, 5/6/2022 | 14,352,865 | |
8,777,000 | Tinton Falls, NJ, (Series A) BANs, 1.250%, 10/27/2022 | 8,852,116 | |
TOTAL | 178,236,524 | ||
New York— 14.5% | |||
16,925,000 | Batavia, NY City School District BANs, 1.500%, 6/14/2022 | 17,041,329 | |
15,516,000 | Binghamton, NY City School District BANs, 1.000%, 6/24/2022 | 15,585,479 | |
5,800,000 | Cooperstown, NY BANs, 1.000%, 1/27/2022 | 5,806,313 | |
16,110,000 | Cortland, NY, (Series A) BANs, 2.000%, 11/11/2022 | 16,364,994 | |
24,850,000 | Lindenhurst, NY Union Free School District TANs, 1.000%, 6/24/2022 | 24,972,904 | |
5,490,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2018-XM0697) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.100%, 12/2/2021 | 5,490,000 | |
1,670,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XM0835) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.100%, 12/2/2021 | 1,670,000 | |
25,000,000 | New York City Housing Development Corp., Sustainable Development (Series I-3) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.050%, 12/2/2021 | 25,000,000 | |
40,000,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-2) Daily VRDNs, (Landesbank Hessen-Thuringen LIQ), 0.030%, 12/1/2021 | 40,000,000 | |
8,800,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2011 Series FF-2) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.040%, 12/1/2021 | 8,800,000 | |
11,500,000 | New York City, NY Transitional Finance Authority, Fiscal 2014 (Subseries D-3) Daily VRDNs, (Mizuho Bank Ltd. LIQ), 0.030%, 12/1/2021 | 11,500,000 | |
58,500,000 | New York City, NY Transitional Finance Authority, Stage Trust 3a-7 (Series 2020-002) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 58,500,000 | |
300,000 | New York City, NY, (Subseries A-7) Daily VRDNs, (Bank of the West, San Francisco, CA LOC), 0.050%, 12/1/2021 | 300,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 10,980,000 | New York City, NY, (Subseries B-5) Daily VRDNs, (Barclays Bank PLC LIQ), 0.050%, 12/1/2021 | $10,980,000 | |
7,580,000 | New York City, NY, Fiscal 2013 (Subseries A-3) Daily VRDNs, (Mizuho Bank Ltd. LOC), 0.030%, 12/1/2021 | 7,580,000 | |
10,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 10,000,000 | |
5,540,000 | New York State Dormitory Authority (Montefiore Medical Center), Tender Option Bond Trust Receipts (Series 2020-XM0922) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.110%, 12/2/2021 | 5,540,000 | |
4,900,000 | North Merrick, NY Union Free School District TANs, 1.000%, 6/24/2022 | 4,922,009 | |
50,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Royal Bank of Canada LIQ), 0.100%, 12/2/2021 | 50,000,000 | |
6,735,000 | Otsego County, NY BANs, 1.250%, 3/18/2022 | 6,753,895 | |
9,610,000 | Peekskill, NY City School District BANs, 1.000%, 6/29/2022 | 9,654,122 | |
6,093,684 | Union, NY BANs, 0.750%, 2/25/2022 | 6,101,552 | |
2,658,520 | Vestal, NY CSD, (Series B) BANs, 1.000%, 9/30/2022 | 2,675,690 | |
4,770,000 | Washington County, NY BANs, 1.000%, 3/25/2022 | 4,781,293 | |
5,025,000 | York, NY CSD BANs, 1.250%, 6/23/2022 | 5,053,843 | |
TOTAL | 355,073,423 | ||
North Carolina— 0.4% | |||
2,000,000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health (previously Carolinas HealthCare) System), (Series 2007E) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 2,000,000 | |
5,080,000 | Clark Township, NJ BANs, 1.000%, 12/2/2021 | 5,080,069 | |
2,200,000 | University of North Carolina at Chapel Hill (University of North Carolina Hospitals), (Series 2001A) Daily VRDNs, (TD Bank, N.A. LIQ), 0.030%, 12/1/2021 | 2,200,000 | |
TOTAL | 9,280,069 | ||
North Dakota— 0.1% | |||
3,200,000 | University of North Dakota, Tender Option Bond Trust Receipts (Series 2021-XG0336) Weekly VRDNs, (Toronto Dominion Bank LIQ)/(Toronto Dominion Bank LOC), 0.090%, 12/2/2021 | 3,200,000 | |
Ohio— 3.6% | |||
1,650,000 | Avon, OH, Water System Improvement Revenue Bonds BANs, 1.000%, 1/27/2022 | 1,651,928 | |
2,713,300 | Fairborn, OH, (Series B) BANs, 1.000%, 8/31/2022 | 2,729,539 | |
14,400,000 | Franklin County, OH Mortgage Revenue (Trinity Healthcare Credit Group), (Series 2013OH) TOBs, 0.100%, Mandatory Tender 2/1/2022 | 14,400,000 | |
9,000,000 | Grove City, OH BANs, 1.000%, 7/7/2022 | 9,042,905 | |
23,640,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 23,640,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Ohio— continued | |||
$ 14,800,000 | Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Barclays Golden Blue (Series 2020-002) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | $14,800,000 | |
10,000,000 | Ohio University, (RBC Muni Products Series G-27) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 12/1/2021 | 10,000,000 | |
7,290,000 | Sandusky, OH BANs, 1.000%, 9/30/2022 | 7,335,872 | |
4,500,000 | Tipp City, OH BANs, 0.750%, 2/9/2022 | 4,504,647 | |
TOTAL | 88,104,891 | ||
Oklahoma— 0.1% | |||
3,410,000 | Oklahoma Development Finance Authority (OU Medicine), Tender Option Bond Trust Receipts (Series 2018-XG0210) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.100%, 12/2/2021 | 3,410,000 | |
Pennsylvania— 4.4% | |||
6,400,000 | Allegheny County, PA HDA (Dialysis Clinic, Inc.), (Series 1997) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.080%, 12/2/2021 | 6,400,000 | |
11,460,000 | Allegheny County, PA HDA (UPMC Health System), Tender Option Bond Trust Receipts (Series 2019-XM0758) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.120%, 12/2/2021 | 11,460,000 | |
4,490,000 | Berks County, PA IDA (Tower Health), Tender Option Bond Trust Certificates (Series 2018-XL0061) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.100%, 12/2/2021 | 4,490,000 | |
3,150,000 | Central Bradford Progress Authority, PA (Guthrie Clinic), (Series 2020-XF 1259) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | 3,150,000 | |
2,240,000 | Chester County, PA HEFA (Tel Hai Obligated Group Project), (Series of 2009) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.150%, 12/2/2021 | 2,240,000 | |
1,665,000 | Pennsylvania Economic Development Financing Authority (UPMC Health System), Tender Option Bond Trust Receipts (2015-ZM0088) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 1,665,000 | |
11,995,000 | Pennsylvania State Higher Education Facilities Authority (Foundation for Indiana University of Pennsylvania), RBC Muni Products (E-75) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.220%, Optional Tender 1/3/2022 | 11,995,000 | |
4,750,000 | Pennsylvania State Turnpike Commission, (Series 2017-ZM0535) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Citibank N.A., New York LIQ), 0.100%, 12/2/2021 | 4,750,000 | |
20,000,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5024) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 20,000,000 | |
10,000,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5025) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 10,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$ 8,975,000 | Pennsylvania State Turnpike Commission, Tender Option Bond Trust Certificates (Series 2020-XM0861) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | $8,975,000 | |
1,525,000 | Philadelphia, PA Authority for Industrial Development (Susquehanna Net Zero Housing, L.P.), Tender Option Bond Trust Floater Certificates (2020-MIZ9051) VRENs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 0.300%, 12/2/2021 | 1,525,000 | |
6,865,000 | Philadelphia, PA School District, Tender Option Bond Trust Receipts (Series 2020-XF0881) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 0.090%, 12/2/2021 | 6,865,000 | |
14,000,000 | State Public School Building Authority, PA (Philadelphia, PA School District), Tender Option Bond Trust Certificates (2016-XG0085) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Credit Suisse AG LIQ), 0.090%, 12/2/2021 | 14,000,000 | |
TOTAL | 107,515,000 | ||
South Carolina— 1.3% | |||
18,000,000 | South Carolina Jobs-EDA (Palmetto Health Alliance), (Series 2019-BAML5004) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | 18,000,000 | |
12,670,000 | South Carolina Transportation Infrastructure Bank, Tender Option Bond Trust Receipts (Series G-109) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 4/1/2022 | 12,670,000 | |
TOTAL | 30,670,000 | ||
Tennessee— 1.5% | |||
2,600,000 | Blount County, TN Public Building Authority (Knox County, TN), (Series C-3-A) Weekly VRDNs, (Truist Bank LIQ), 0.140%, 12/2/2021 | 2,600,000 | |
4,100,000 | Metropolitan Government Nashville & Davidson County, TN HEFA (Meharry Medical College), (Series 2009) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.110%, 12/3/2021 | 4,100,000 | |
15,000,000 | Metropolitan Government Nashville & Davidson County, TN, (2014 Program), CPX, 0.100%, Mandatory Tender 2/1/2022 | 15,000,000 | |
6,945,000 | Sevier County, TN Public Building Authority (Sevier County, TN), Local Government Public Improvement Bonds (Series VII-B-1) Weekly VRDNs, (Bank of America N.A. LOC), 0.060%, 12/1/2021 | 6,945,000 | |
7,900,000 | Sevier County, TN Public Building Authority, (Series V-B-1) Weekly VRDNs, (Truist Bank LOC), 0.140%, 12/2/2021 | 7,900,000 | |
TOTAL | 36,545,000 | ||
Texas— 8.6% | |||
40,000,000 | Harris County, TX Cultural Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Subseries 2009C-1), CP, 0.080%, Mandatory Tender 1/4/2022 | 40,000,000 | |
34,000,000 | Harris County, TX Cultural Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Subseries 2009C-1), CP, 0.100%, Mandatory Tender 2/2/2022 | 34,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 25,000,000 | Port Arthur Navigation District, TX IDC (TOTAL Petrochemicals USA, Inc.), (Series 2012) Weekly VRDNs, (GTD by TotalEnergies SE), 0.090%, 12/1/2021 | $25,000,000 | |
7,600,000 | Port Arthur Navigation District, TX IDC (TOTAL Petrochemicals USA, Inc.), (Series 2012B) Weekly VRDNs, (GTD by TotalEnergies SE), 0.080%, 12/1/2021 | 7,600,000 | |
7,500,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002B) Weekly VRDNs, 0.100%, 12/1/2021 | 7,500,000 | |
30,000,000 | Port of Port Arthur Navigation District of Jefferson County, TX (TOTAL Petrochemicals USA, Inc.), (Series 2010) Weekly VRDNs, (GTD by TotalEnergies SE), 0.080%, 12/1/2021 | 30,000,000 | |
41,000,000 | Port of Port Arthur Navigation District of Jefferson County, TX (TOTAL Petrochemicals USA, Inc.), Exempt Facilities Revenue Bonds (Series 2009) Weekly VRDNs, (GTD by TotalEnergies SE), 0.080%, 12/1/2021 | 41,000,000 | |
4,000,000 | South Texas CCD, (RBC Muni Products G-35) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.080%, 12/2/2021 | 4,000,000 | |
14,700,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), (Series 2011C) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 14,700,000 | |
6,775,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Methodist Hospitals of Dallas), (Series 2008A) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 6,775,000 | |
TOTAL | 210,575,000 | ||
Virginia— 3.8% | |||
4,765,000 | Alexandria, VA, Solar Eclipse (2017-0044) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 12/2/2021 | 4,765,000 | |
1,850,000 | Fairfax County, VA EDA (Young Men’s Christian Association of Metropolitan Washington), (Series 2001) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.150%, 12/3/2021 | 1,850,000 | |
3,500,000 | Hampton Roads, VA Transportation Accountability Commission, Tender Option Bond Trust Receipts (Series 2020-ZF0997) Weekly VRDNs, (Bank of America N.A. LIQ), 0.080%, 12/2/2021 | 3,500,000 | |
250,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003A) Weekly VRDNs, 0.060%, 12/1/2021 | 250,000 | |
5,200,000 | Loudoun County, VA, Solar Eclipse (Series 2017-0038) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 12/2/2021 | 5,200,000 | |
335,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), (Series 2017C) Weekly VRDNs, (Truist Bank LOC), 0.140%, 12/2/2021 | 335,000 | |
6,210,000 | Metropolitan Washington, DC Airports Authority (Dulles Metrorail and Capital Improvement Project), Tender Option Bond Trust Certificates (Series 2019-ZM0795) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 6,210,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Virginia— continued | |||
$ 2,535,000 | Metropolitan Washington, DC Airports Authority (Dulles Metrorail and Capital Improvement Project), Tender Option Bond Trust Certificates (Series 2019-ZM0796) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | $2,535,000 | |
5,330,000 | Roanoke, VA EDA (Carilion Health System Obligated Group), Tender Option Bond Trust Receipts (Series 2020-XF0955) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.080%, 12/2/2021 | 5,330,000 | |
41,670,000 | Suffolk, VA EDA (Sentara Health Systems Obligation Group), Tender Option Bond Trust Floater Certificates (2020-MIZ9025) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.120%, 12/2/2021 | 41,670,000 | |
2,000,000 | University of Virginia (The Rectors and Visitors of), Solar Eclipse (Series 2017-0017) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 12/2/2021 | 2,000,000 | |
8,585,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-XF0926) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 8,585,000 | |
4,500,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0927) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 4,500,000 | |
6,640,000 | Virginia State Public Building Authority Public Facilities (Virginia State), RBC Muni Products (Series G-40) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 2/1/2022 | 6,640,000 | |
TOTAL | 93,370,000 | ||
West Virginia— 0.3% | |||
1,475,000 | Morgantown, WV Combined Utility System (Morgantown Utility Board, Inc.), Tender Option Bond Trust Receipts (Series 2018-ZF0672) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.100%, 12/2/2021 | 1,475,000 | |
6,000,000 | West Virginia State Hospital Finance Authority (Cabell Huntington Hospital), (Series 2008A) Weekly VRDNs, (Truist Bank LOC), 0.140%, 12/2/2021 | 6,000,000 | |
TOTAL | 7,475,000 | ||
Wisconsin— 1.0% | |||
5,000,000 | Milwaukee County, WI Metropolitan Sewer District, Solar Eclipse 2017-0036 Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.040%, 12/1/2021 | 5,000,000 | |
5,730,000 | Public Finance Authority, WI (Bradford Preparatory School), Tender Option Bond Trust Receipts (2020-XF2887) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.250%, 12/2/2021 | 5,730,000 | |
1,030,000 | Public Finance Authority, WI (Carolina Charter Academy, Inc.), Tender Option Bond Trust Receipts (Series 2021-XF2931) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,030,000 | |
9,331,000 | Wisconsin Center District, Tender Option Bond Trust Receipts (Series 2020-XF1208) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.090%, 12/2/2021 | 9,331,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Wisconsin— continued | |||
$ 4,000,000 | Wood County, WI BANs, 0.750%, 3/7/2022 | $4,003,055 | |
TOTAL | 25,094,055 | ||
TOTAL INVESTMENT IN SECURITIES—101.8% (AT AMORTIZED COST)2 | 2,490,932,288 | ||
OTHER ASSETS AND LIABILITIES - NET—(1.8)%3 | (43,776,713) | ||
TOTAL NET ASSETS—100% | $2,447,155,575 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CCD | —Community College District | |
CDA | —Community Development Authority | |
COL | —Collateralized | |
CP | —Commercial Paper | |
CPX | —Commercial Paper Extendible | |
CSD | —Central School District | |
EDA | —Economic Development Authority | |
FHLB | —Federal Home Loan Bank | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HDA | —Hospital Development Authority | |
HEFA | —Health and Education Facilities Authority | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDC | —Industrial Development Corporation | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCR | —Pollution Control Revenue | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
TANs | —Tax Anticipation Notes | |
TOBs | —Tender Option Bonds | |
USD | —United States Dollar | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.001 | 0.012 | 0.012 | 0.010 | 0.006 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.002 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.001 | 0.012 | 0.012 | 0.010 | 0.008 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.001) | (0.012) | (0.012) | (0.010) | (0.006) | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.002) | (0.000)2 |
Total Distributions | (0.000)2 | (0.001) | (0.012) | (0.012) | (0.010) | (0.008) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.01% | 0.06% | 1.19% | 1.22% | 1.03% | 0.77% | 0.11% |
Ratios to Average Net Assets: | |||||||
Net expenses4 | 0.12%5 | 0.21% | 0.21% | 0.21%5 | 0.21% | 0.21% | 0.13%6 |
Net investment income | 0.01%5 | 0.06% | 1.14% | 1.46%5 | 1.03% | 0.57% | 0.08% |
Expense waiver/ reimbursement7 | 0.18%5 | 0.09% | 0.08% | 0.09%5 | 0.09% | 0.09% | 0.17% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $2,258,394 | $2,415,796 | $4,131,257 | $3,403,098 | $3,054,475 | $2,270,120 | $4,088,135 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | Computed on an annualized basis. |
6 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio was 0.13% for the year ended July 31, 2016, after taking into account these expense reductions. |
7 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191, 2 | ||
2021 | 2020 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | ||||
Net investment income | 0.0003 | 0.001 | 0.012 | 0.006 |
Net realized gain (loss) | 0.0003 | 0.0003 | 0.0003 | (0.000)3 |
Total From Investment Operations | 0.0003 | 0.001 | 0.012 | 0.006 |
Less Distributions: | ||||
Distributions from net investment income | (0.000)3 | (0.001) | (0.012) | (0.006) |
Distributions from net realized gain | (0.000)3 | (0.000)3 | (0.000)3 | — |
Total Distributions | (0.000)3 | (0.001) | (0.012) | (0.006) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.01% | 0.06% | 1.19% | 0.55% |
Ratios to Average Net Assets: | ||||
Net expenses5 | 0.12%6 | 0.21% | 0.21% | 0.22%6 |
Net investment income | 0.01%6 | 0.07% | 1.06% | 1.61%6 |
Expense waiver/reimbursement7 | 0.18%6 | 0.09% | 0.09% | 0.09%6 |
Supplemental Data: | ||||
Net assets, end of period (000 omitted) | $18,945 | $18,161 | $42,186 | $5,368 |
1 | Reflects operations for the period from January 18, 2019 (date of initial investment) to May 31, 2019. Certain ratios included above in Ratios to Average Net Assets and per share amounts may be inflated or deflated as compared to the fee structure for each respective share class as a result of daily systematic allocations being rounded to the nearest penny for fund level income, expense and realized gain/loss amounts. Such differences are immaterial. |
2 | The Fund changed its fiscal year end from July 31 to May 31. |
3 | Represents less than $0.001. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.0002 | 0.009 | 0.010 | 0.008 | 0.003 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.002 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.0002 | 0.009 | 0.010 | 0.008 | 0.005 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.000)2 | (0.009) | (0.010) | (0.008) | (0.003) | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.002) | (0.000)2 |
Total Distributions | (0.000)2 | (0.000)2 | (0.009) | (0.010) | (0.008) | (0.005) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.01% | 0.01% | 0.93% | 1.01% | 0.78% | 0.52% | 0.03% |
Ratios to Average Net Assets: | |||||||
Net expenses4 | 0.12%5 | 0.26% | 0.46% | 0.46%5 | 0.46% | 0.46% | 0.20%6 |
Net investment income | 0.01%5 | 0.01% | 0.90% | 1.20%5 | 0.75% | 0.31% | 0.01% |
Expense waiver/reimbursement7 | 0.43%5 | 0.29% | 0.08% | 0.09%5 | 0.09% | 0.09% | 0.34% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $169,816 | $226,166 | $217,345 | $213,406 | $297,390 | $228,340 | $584,889 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | Computed on an annualized basis. |
6 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio was 0.20% for the year ended July 31, 2016, after taking into account these expense reductions. |
7 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
November 30, 2021 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $2,490,932,288 |
Cash | 904,932 |
Income receivable | 1,800,618 |
Receivable for investments sold | 3,017,778 |
Receivable for shares sold | 302,034 |
Total Assets | 2,496,957,650 |
Liabilities: | |
Payable for investments purchased | 47,058,734 |
Payable for shares redeemed | 2,620,377 |
Income distribution payable | 7,683 |
Payable for investment adviser fee (Note 4) | 1,974 |
Payable for administrative fee (Note 4) | 5,248 |
Accrued expenses (Note 4) | 108,059 |
Total Liabilities | 49,802,075 |
Net assets for 2,446,951,698 shares outstanding | $2,447,155,575 |
Net Assets Consist of: | |
Paid-in capital | $2,446,932,215 |
Total distributable earnings (loss) | 223,360 |
Total Net Assets | $2,447,155,575 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$2,258,393,972 ÷ 2,258,205,822 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$18,945,242 ÷ 18,943,653 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$169,816,361 ÷ 169,802,223 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2021 (unaudited)
Investment Income: | |
Interest | $1,573,615 |
Expenses: | |
Investment adviser fee (Note 4) | 2,559,324 |
Administrative fee (Note 4) | 1,001,667 |
Custodian fees | 39,143 |
Transfer agent fees | 12,568 |
Directors’/Trustees’ fees (Note 4) | 7,660 |
Auditing fees | 11,491 |
Legal fees | 10,145 |
Portfolio accounting fees | 108,138 |
Other service fees (Notes 2 and 4) | 234,564 |
Share registration costs | 44,630 |
Printing and postage | 15,064 |
Miscellaneous (Note 4) | 23,169 |
TOTAL EXPENSES | 4,067,563 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 4) | (2,323,263) |
Waivers/reimbursement of other operating expenses (Notes 2 and 4) | (236,312) |
TOTAL WAIVERS AND REIMBURSEMENT | (2,559,575) |
Net expenses | 1,507,988 |
Net investment income | $65,627 |
Net realized gain on investments | 44,449 |
Change in net assets resulting from operations | $110,076 |
Six Months Ended (unaudited) 11/30/2021 | Year Ended 5/31/2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $65,627 | $2,057,294 |
Net realized gain (loss) | 44,449 | 201,562 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 110,076 | 2,258,856 |
Distributions to Shareholders: | ||
Wealth Shares | (120,727) | (2,157,193) |
Advisor Shares | (984) | (24,678) |
Service Shares | (9,679) | (22,867) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (131,390) | (2,204,738) |
Share Transactions: | ||
Proceeds from sale of shares | 1,402,860,892 | 3,970,745,002 |
Net asset value of shares issued to shareholders in payment of distributions declared | 86,314 | 1,557,805 |
Cost of shares redeemed | (1,615,893,099) | (5,703,022,395) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (212,945,893) | (1,730,719,588) |
Change in net assets | (212,967,207) | (1,730,665,470) |
Net Assets: | ||
Beginning of period | 2,660,122,782 | 4,390,788,252 |
End of period | $2,447,155,575 | $2,660,122,782 |
Other Service Fees Incurred | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $234,564 | $(234,564) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 1,279,572 | $1,279,572 | 3,567,284 | $3,567,284 |
Shares issued to shareholders in payment of distributions declared | 80 | 80 | 1,520 | 1,520 |
Shares redeemed | (1,437,038) | (1,437,038) | (5,284,309) | (5,284,309) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (157,386) | $(157,386) | (1,715,505) | $(1,715,505) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Advisor Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 6,207 | $6,207 | 25,701 | $25,701 |
Shares issued to shareholders in payment of distributions declared | 1 | 1 | 25 | 25 |
Shares redeemed | (5,424) | (5,424) | (49,750) | (49,750) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 784 | $784 | (24,024) | $(24,024) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 117,082 | $117,082 | 377,759 | $377,759 |
Shares issued to shareholders in payment of distributions declared | 5 | 5 | 13 | 13 |
Shares redeemed | (173,431) | (173,431) | (368,963) | (368,963) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (56,344) | $(56,344) | 8,809 | $8,809 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (212,946) | $(212,946) | (1,730,720) | $(1,730,720) |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Beginning Account Value 6/1/2021 | Ending Account Value 11/30/2021 | Expenses Paid During Period1 | |
Actual: | |||
Wealth Shares | $1,000 | $1,000.10 | $20.60 |
Advisor Shares | $1,000 | $1,000.10 | $30.60 |
Service Shares | $1,000 | $1,000.10 | $40.60 |
Hypothetical (assuming a 5% return before expenses): | |||
Wealth Shares | $1,000 | $1,024.47 | $20.61 |
Advisor Shares | $1,000 | $1,024.47 | $30.61 |
Service Shares | $1,000 | $1,024.47 | $40.61 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Wealth Shares | 0.12% |
Advisor Shares | 0.12% |
Service Shares | 0.12% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Wealth Shares current Fee Limit of 0.21% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.05 and $1.07, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Advisor Shares current Fee Limit of 0.21% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.05 and $1.07, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.46% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.31 and $2.33, respectively. |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919411
CUSIP 60934N880
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Share Class | Ticker | Wealth | TBIXX |
Federated Hermes Tax-Free Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-22-000064/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 72.4% |
Municipal Notes | 19.4% |
Commercial Paper | 10.0% |
Other Assets and Liabilities—Net2 | (1.8)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 63.7% |
8-30 Days | 0.4% |
31-90 Days | 21.9% |
91-180 Days | 6.0% |
181 Days or more | 9.8% |
Other Assets and Liabilities—Net2 | (1.8)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 101.8% | ||
Alabama— 5.4% | |||
$ 4,000,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 0.050%, 12/1/2021 | $4,000,000 | |
40,000,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-D) Weekly VRDNs, 0.140%, 12/1/2021 | 40,000,000 | |
3,275,000 | Cooperative District of Fort Spanish, AL, Tender Option Bond Trust Receipts (Series 2021-XF2959) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 3,275,000 | |
6,135,000 | Huntsville, AL Health Care Authority, (Series 2020-XG0301) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | 6,135,000 | |
44,300,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 0.140%, 12/1/2021 | 44,300,000 | |
33,810,000 | West Jefferson, AL IDB PCRB (Alabama Power Co.), (Series 1998) Weekly VRDNs, 0.130%, 12/2/2021 | 33,810,000 | |
TOTAL | 131,520,000 | ||
Arizona— 0.1% | |||
2,340,000 | Arizona State IDA (Colorado Military Academy Building Corp.), Tender Option Bond Trust Receipts (Series 2021-XF2941) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 2,340,000 | |
California— 8.6% | |||
1,670,000 | ABAG Finance Authority for Non-Profit Corporations, CA (Ecology Action of Santa Cruz), (Series 2010) Weekly VRDNs, (Comerica Bank LOC), 0.070%, 12/2/2021 | 1,670,000 | |
2,800,000 | California Enterprise Development Authority (Humane Society Silicon Valley), (Series 2008) Weekly VRDNs, (FHLB of San Francisco LOC), 0.070%, 12/2/2021 | 2,800,000 | |
40,000,000 | California Health Facilities Financing Authority (Dignity Health (Catholic Healthcare West)), Golden Blue (Series 2017-004) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 40,000,000 | |
11,015,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 0.110%, Mandatory Tender 3/8/2022 | 11,015,000 | |
17,450,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.120%, Mandatory Tender 2/15/2022 | 17,450,000 | |
7,310,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.110%, Mandatory Tender 3/8/2022 | 7,310,000 | |
12,395,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.120%, Mandatory Tender 3/3/2022 | 12,395,000 | |
20,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 0.170%, Mandatory Tender 12/7/2021 | 20,000,000 | |
8,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.100%, Mandatory Tender 1/13/2022 | 8,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 17,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.110%, Mandatory Tender 2/3/2022 | $17,000,000 | |
1,700,000 | California Statewide Communities Development Authority (Pacific Collegiate Foundation), (Series 2016) Weekly VRDNs, (Comerica Bank LOC), 0.070%, 12/2/2021 | 1,700,000 | |
13,200,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2021 Series A: One Uptown Newport Apartments) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.110%, 12/2/2021 | 13,200,000 | |
6,500,000 | Folsom Cordova, CA USD (School Facilities Improvement District No. 3), Tender Option Bond Trust Certificates (Series 2019-XM0744) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.090%, 12/2/2021 | 6,500,000 | |
2,500,000 | Los Angeles County, CA Metropolitan Transportation Authority, (Second Subordinate Sales Tax Revenue, Series A-TE-Barclays) (Proposition A), CP, (Barclays Bank PLC LOC), 0.060%, Mandatory Tender 12/1/2021 | 2,500,000 | |
10,000,000 | River Islands, CA Public Financing Authority (River Islands, CA Public Financing Authority-Community Facilities District No. 2015-1), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9002) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 10,000,000 | |
2,200,000 | San Diego County, CA (Museum of Contemporary Art San Diego), (Series 2004) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.070%, 12/2/2021 | 2,200,000 | |
5,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.090%, Mandatory Tender 12/3/2021 | 5,000,000 | |
13,400,000 | San Francisco, CA City and County (Transbay Block 8 Tower Apartments Obligated Group), Mizuho 3a-7 (2021-MIZ9063) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 13,400,000 | |
8,490,000 | Twin Rivers, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2442) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.090%, 12/2/2021 | 8,490,000 | |
10,300,000 | University of California (The Regents of), Tender Option Bond Trust Certificates (Series 2018-ZF2670) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.080%, 12/2/2021 | 10,300,000 | |
TOTAL | 210,930,000 | ||
Colorado— 0.8% | |||
17,570,000 | Colorado Health Facilities Authority (Children’s Hospital Colorado Obligated Group), PUTTERs (Series 5008) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 17,570,000 | |
1,294,312 | Colorado HFA (Steele San Juan, LLC), Mizuho 3a-7 (Series 2021-MIZ9068) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 1,294,312 | |
TOTAL | 18,864,312 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Connecticut— 1.8% | |||
$ 26,815,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | $26,815,000 | |
8,500,000 | Regional School District No. 14, CT BANs, 1.000%, 4/21/2022 | 8,524,541 | |
3,875,000 | Regional School District #19, CT BANs, 1.750%, 6/9/2022 | 3,906,473 | |
3,765,000 | Shelton, CT Housing Authority (Crosby Commons), (Series 1998) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.150%, 12/2/2021 | 3,765,000 | |
TOTAL | 43,011,014 | ||
Florida— 8.8% | |||
6,405,000 | Clearwater, FL Water and Sewer Authority, Solar Eclipse (Series 2017-0014) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.040%, 12/1/2021 | 6,405,000 | |
25,000,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.), (First Series 2009) Daily VRDNs, 0.050%, 12/1/2021 | 25,000,000 | |
1,400,000 | Florida Development Finance Corp. (Navigator Academy of Leadership, Inc.), Tender Option Bond Trust Receipts (2021-XF2945) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,400,000 | |
11,500,000 | Hillsborough County, FL IDA (Baycare Health System), (Series 2020B) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 11,500,000 | |
10,000,000 | Jacksonville, FL PCR (Florida Power & Light Co.), (Series 1994), CP, 0.120%, Mandatory Tender 1/19/2022 | 10,000,000 | |
24,760,000 | Jacksonville, FL PCR (Florida Power & Light Co.), (Series 1994), CP, 0.120%, Mandatory Tender 1/19/2022 | 24,760,000 | |
20,300,000 | Jacksonville, FL PCR (Florida Power & Light Co.), Pollution Control Revenue Refunding Bonds (Series 1992), CP, 0.120%, Mandatory Tender 1/19/2022 | 20,300,000 | |
6,425,000 | JEA, FL Electric System, (Series Three 2008A) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.050%, 12/1/2021 | 6,425,000 | |
2,495,000 | Miami-Dade County, FL HFA (Cordoba FL TC, LP), Mizuho 3a-7 (2021-MIZ9072) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 2,495,000 | |
10,000 | Orange County, FL HFA (Post Fountains at Lee Vista), (Series 1997E) Weekly VRDNs, (FNMA LOC), 0.050%, 12/1/2021 | 10,000 | |
16,500,000 | Polk County, FL IDA (Baycare Health System), (Series 2014A-2) VRENs, 0.350%, 12/2/2021 | 16,500,000 | |
38,550,000 | St. Lucie County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 0.030%, 12/1/2021 | 38,550,000 | |
7,000,000 | Tampa-Hillsborough County, FL Expressway Authority, RBC Muni Products (Series G-113) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 7,000,000 | |
45,100,000 | Volusia County, FL Hospital Authority (Halifax Hospital Medical Center, FL), PUTTERs 3a-7 (Series 5032) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 45,100,000 | |
TOTAL | 215,445,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Georgia— 0.5% | |||
$ 2,460,000 | Brookhaven Development Authority, GA (Children’s Healthcare of Atlanta, Inc.), Tender Option Bond Trust Receipts (Series 2019-XG0224) Weekly VRDNs, (Bank of America N.A. LIQ), 0.080%, 12/2/2021 | $2,460,000 | |
1,450,000 | Georgia State HFA, Tender Option Bond Trust Receipts (2020-ZF0783) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.100%, 12/2/2021 | 1,450,000 | |
7,285,000 | Georgia State HFA, Tender Option Bond Trust Receipts (Series 2018-ZF0653) Weekly VRDNs, (Bank of America N.A. LIQ), 0.090%, 12/2/2021 | 7,285,000 | |
1,800,000 | Savannah, GA EDA (Calvary Day School), (Series 2006) Weekly VRDNs, (Truist Bank LOC), 0.110%, 12/1/2021 | 1,800,000 | |
TOTAL | 12,995,000 | ||
Hawaii— 0.3% | |||
7,520,000 | Hawaii State Department of Budget & Finance (Queen’s Health Systems), (2015 Series B) VRENs, 0.500%, 12/2/2021 | 7,520,000 | |
Idaho— 0.4% | |||
9,235,000 | Idaho Health Facilities Authority (Trinity Healthcare Credit Group), (Series 2013ID) TOBs, 0.100%, Mandatory Tender 2/1/2022 | 9,235,000 | |
Illinois— 3.4% | |||
600,000 | Chicago, IL MFH Revenue (Churchview Manor Senior Apartments), (Series 2012) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 0.240%, 12/2/2021 | 600,000 | |
2,500,000 | Chicago, IL Park District, Tender Optio Bond Trust Certificates (Series 2021-XX1168) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 0.120%, 12/2/2021 | 2,500,000 | |
2,000,000 | Chicago, IL Park District, Tender Option Bond Trust Certificates (Series 2021-XX1169) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 0.120%, 12/2/2021 | 2,000,000 | |
16,000,000 | Chicago, IL Sales Tax, Tender Option Bond Trust Receipt (Series 2019-XF0779) Weekly VRDNs, (Build America Mutual Assurance INS)/(Toronto Dominion Bank LIQ), 0.100%, 12/2/2021 | 16,000,000 | |
10,975,000 | Macon County, IL School District #61 (Decatur), Tender Option Bond Trust Certificates (Series 2020-XM0855) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 10,975,000 | |
16,500,000 | Metropolitan Pier & Exposition Authority, IL, Tender Option Bond Trust Receipts (2021-MS0001) TOBs, (Morgan Stanley Bank, N.A. LIQ)/(Morgan Stanley Bank, N.A. LOC), 0.170%, Optional Tender 2/3/2022 | 16,500,000 | |
33,750,000 | Sales Tax Securitization Corp., IL, Tender Option Bond Trust Certificates (Series 2018-XM0714) Weekly VRDNs, (Build America Mutual Assurance INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 33,750,000 | |
TOTAL | 82,325,000 | ||
Indiana— 1.5% | |||
20,640,000 | Indiana Development Finance Authority (Archer-Daniels-Midland Co.), (Series 2012) Weekly VRDNs, 0.080%, 12/1/2021 | 20,640,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Indiana— continued | |||
$ 17,040,000 | Indiana State Finance Authority (Indiana State), Stage Trust (Series 2020-004) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | $17,040,000 | |
TOTAL | 37,680,000 | ||
Iowa— 0.3% | |||
6,935,000 | Iowa Finance Authority - Health Facilities (UnityPoint Health), (Series 2013B-1) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 6,935,000 | |
Kentucky— 1.0% | |||
17,865,000 | Georgetown, KY (Georgetown College), (Series 2006) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.110%, 12/3/2021 | 17,865,000 | |
7,500,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 5/2/2022 | 7,500,000 | |
TOTAL | 25,365,000 | ||
Louisiana— 2.2% | |||
16,000,000 | Baton Rouge, LA Industrial Development Board (Exxon Mobil Corp.), (Series 2010A) Daily VRDNs, (GTD by Exxon Mobil Corp.), 0.030%, 12/1/2021 | 16,000,000 | |
12,900,000 | Baton Rouge, LA Industrial Development Board (Exxon Mobil Corp.), (Series 2010B) Daily VRDNs, 0.030%, 12/1/2021 | 12,900,000 | |
910,000 | Louisiana Local Government Environmental Facilities CDA (The Academy of the Sacred Heart of New Orleans), (Series 2004) Weekly VRDNs, (FHLB of Dallas LOC), 0.080%, 12/1/2021 | 910,000 | |
3,100,000 | Louisiana State Housing Corporation (Peace Lake Louisiana Tower Community L.P.), Tender Option Bond Trust Floater Certificates (Series 2020-MIZ9053) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,100,000 | |
21,260,000 | Shreveport, LA Water & Sewer, Tender Option Bond Trust Certificates (Series 2019-ZF2818) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 21,260,000 | |
TOTAL | 54,170,000 | ||
Maryland— 1.3% | |||
7,500,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 1/3/2022 | 7,500,000 | |
4,345,000 | Maryland State Health & Higher Educational Facilities Authority (Greater Baltimore Medical Center), Tender Option Bond Trust Receipts (Series 2021-XG0335) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.080%, 12/2/2021 | 4,345,000 | |
20,475,000 | Montgomery County, MD (Trinity Healthcare Credit Group), (Series 2013MD) TOBs, 0.100%, Mandatory Tender 3/1/2022 | 20,475,000 | |
TOTAL | 32,320,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Michigan— 1.8% | |||
$ 5,000,000 | Eastern Michigan University (Board of Regents of), Tender Option Bond Trust Certificates (Series 2018-ZF2620) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | $5,000,000 | |
4,000,000 | Jackson County, MI Public Schools, Tender Option Bond Trust Receipts (Series 2018-XF2650) Weekly VRDNs, (Bank of America N.A. LIQ)/(Michigan School Bond Qualification and Loan Program COL), 0.150%, 12/2/2021 | 4,000,000 | |
4,000,000 | Michigan Finance Authority 2nd Lien Distributable State Aid (Wayne County, MI), (Series 2021-XM0934) Weekly VRDNs, (GTD by Michigan State)/(Royal Bank of Canada LIQ), 0.100%, 12/2/2021 | 4,000,000 | |
3,500,000 | Michigan State Building Authority, (Series III) VRENs, 0.090%, 12/1/2021 | 3,500,000 | |
2,670,000 | Michigan State Finance Authority Revenue (McLaren Health Care Corp.), Tender Option Bond Trust Receipts (Series 2019-ZF0784) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 12/2/2021 | 2,670,000 | |
3,335,000 | Michigan State Finance Authority Revenue (McLaren Health Care Corp.), Tender Option Bond Trust Receipts (Series 2019-ZF0790) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 12/2/2021 | 3,335,000 | |
15,375,000 | Michigan State Finance Authority Revenue (Trinity Healthcare Credit Group), (Series 2013MI-1) TOBs, 0.100%, Mandatory Tender 3/1/2022 | 15,375,000 | |
350,000 | Michigan State Strategic Fund (Henry Ford Museum & Greenfield Village) Daily VRDNs, (Comerica Bank LOC), 0.050%, 12/1/2021 | 350,000 | |
3,035,000 | Michigan Strategic Fund (Washtenaw Christian Academy), (Series 2008) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.110%, 12/3/2021 | 3,035,000 | |
4,000,000 | Trenton, MI Public Schools, Tender Option Bond Trust Receipts (Series 2018-XF2651) Weekly VRDNs, (Bank of America N.A. LIQ)/(GTD by Michigan School Bond Qualification and Loan Program), 0.150%, 12/2/2021 | 4,000,000 | |
TOTAL | 45,265,000 | ||
Mississippi— 1.0% | |||
4,670,000 | Mississippi Business Finance Corp. (Gulf Power Co.), (1st Series 2019) Daily VRDNs, 0.040%, 12/1/2021 | 4,670,000 | |
1,393,000 | Mississippi Home Corp. (Jackson Manor Preservation LP), Tender Option Bond Trust Receipts (Series 2021-XF2936) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,393,000 | |
17,600,000 | Perry County, MS (Leaf River Cellulose LLC), (Series 2021) Weekly VRDNs, (GTD by Georgia-Pacific LLC), 0.110%, 12/2/2021 | 17,600,000 | |
TOTAL | 23,663,000 | ||
Missouri— 0.8% | |||
2,500,000 | Lees Summit, MO IDA (EPD3 Ashbrooke LP), (Series 2020 MIZ9055) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 2,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Missouri— continued | |||
$ 7,500,000 | Missouri State Health and Educational Facilities Authority Health Facilities (Mercy Health Systems), (Series 2020-XG0300) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | $7,500,000 | |
10,000,000 | Missouri State HEFA (Stowers Institute for Medical Research), RBC Muni Products (Series 2018 C-16) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.110%, 12/2/2021 | 10,000,000 | |
TOTAL | 20,000,000 | ||
Montana— 0.2% | |||
3,800,000 | Montana State Board of Housing (HRDC IX Affordable Housing Solutions LP), Mizuho 3a-7 (2021-MIZ9061) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.300%, 12/2/2021 | 3,800,000 | |
Multi-State— 13.8% | |||
122,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Societe Generale, Paris LIQ), 0.110%, 12/2/2021 | 122,000,000 | |
115,400,000 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund, (Series 2) Weekly VRDPs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 12/2/2021 | 115,400,000 | |
100,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.100%, 12/2/2021 | 100,000,000 | |
TOTAL | 337,400,000 | ||
Nebraska— 0.9% | |||
21,600,000 | Washington County, NE (Cargill, Inc.), (Series 2010) Weekly VRDNs, 0.090%, 12/2/2021 | 21,600,000 | |
New Jersey— 7.3% | |||
4,750,000 | Alpha Borough, NJ BANs, 1.000%, 3/4/2022 | 4,758,065 | |
4,000,000 | Bloomfield Township, NJ BANs, 1.000%, 3/29/2022 | 4,009,557 | |
5,879,800 | Caldwell Borough, NJ BANs, 1.500%, 4/1/2022 | 5,903,112 | |
11,140,000 | Clark Township, NJ BANs, 1.000%, 12/2/2022 | 11,208,734 | |
4,889,000 | Cresskill Borough, NJ BANs, 1.000%, 10/14/2022 | 4,919,485 | |
17,231,708 | East Hanover Township, NJ, (Series A) BANs, 1.500%, 8/12/2022 | 17,387,236 | |
1,995,000 | Eastampton Township, NJ BANs, 1.000%, 7/28/2022 | 2,004,641 | |
3,491,000 | Englewood Cliffs, NJ BANs, 1.000%, 11/10/2022 | 3,511,313 | |
6,235,779 | Englewood Cliffs, NJ BANs, 1.000%, 2/18/2022 | 6,246,552 | |
3,836,000 | Florham Park, NJ, (Series B) BANs, 1.500%, 9/2/2022 | 3,869,144 | |
2,369,464 | Franklin Borough, NJ BANs, 1.000%, 7/29/2022 | 2,381,118 | |
4,931,625 | Glen Ridge, NJ BANs, 1.000%, 7/15/2022 | 4,954,771 | |
1,515,900 | Hillside Township, NJ BANs, 1.000%, 5/27/2022 | 1,520,950 | |
3,000,000 | Ho-Ho-Kus, NJ BANs, 1.250%, 5/6/2022 | 3,012,527 | |
6,299,000 | Holmdel Township, NJ BANs, 1.000%, 2/11/2022 | 6,308,833 | |
3,770,000 | Kenilworth, NJ BANs, 1.000%, 3/4/2022 | 3,776,791 | |
5,000,000 | Logan Township, NJ BANs, 1.000%, 10/19/2022 | 5,030,744 | |
9,409,000 | Long Branch, NJ BANs, 0.750%, 2/2/2022 | 9,417,094 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 9,815,000 | New Jersey Health Care Facilities Financing Authority (AHS Hospital Corp.), (Series 2008B) Weekly VRDNs, (Bank of America N.A. LOC), 0.070%, 12/2/2021 | $9,815,000 | |
7,500,000 | New Jersey Turnpike Authority, RBC Muni Products (Series G-119) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.200%, Optional Tender 1/3/2022 | 7,500,000 | |
4,084,000 | Ocean Township, NJ (Ocean County) BANs, 1.000%, 9/8/2022 | 4,109,096 | |
14,520,000 | Pennsauken Township, NJ, (Series A) BANs, 1.000%, 6/8/2022 | 14,576,243 | |
5,274,500 | Pequannock Township, NJ BANs, 1.000%, 7/13/2022 | 5,299,036 | |
3,800,158 | Runnemede, NJ, (Series A) BANs, 1.000%, 6/28/2022 | 3,815,781 | |
4,687,000 | South Orange ViIlage Township, NJ BANs, 1.000%, 12/17/2021 | 4,688,144 | |
5,006,000 | Spotswood, NJ BANs, 1.250%, 12/15/2021 | 5,007,576 | |
14,304,000 | Teaneck, NJ BANs, 1.000%, 5/6/2022 | 14,352,865 | |
8,777,000 | Tinton Falls, NJ, (Series A) BANs, 1.250%, 10/27/2022 | 8,852,116 | |
TOTAL | 178,236,524 | ||
New York— 14.5% | |||
16,925,000 | Batavia, NY City School District BANs, 1.500%, 6/14/2022 | 17,041,329 | |
15,516,000 | Binghamton, NY City School District BANs, 1.000%, 6/24/2022 | 15,585,479 | |
5,800,000 | Cooperstown, NY BANs, 1.000%, 1/27/2022 | 5,806,313 | |
16,110,000 | Cortland, NY, (Series A) BANs, 2.000%, 11/11/2022 | 16,364,994 | |
24,850,000 | Lindenhurst, NY Union Free School District TANs, 1.000%, 6/24/2022 | 24,972,904 | |
5,490,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2018-XM0697) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.100%, 12/2/2021 | 5,490,000 | |
1,670,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XM0835) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.100%, 12/2/2021 | 1,670,000 | |
25,000,000 | New York City Housing Development Corp., Sustainable Development (Series I-3) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.050%, 12/2/2021 | 25,000,000 | |
40,000,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-2) Daily VRDNs, (Landesbank Hessen-Thuringen LIQ), 0.030%, 12/1/2021 | 40,000,000 | |
8,800,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2011 Series FF-2) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.040%, 12/1/2021 | 8,800,000 | |
11,500,000 | New York City, NY Transitional Finance Authority, Fiscal 2014 (Subseries D-3) Daily VRDNs, (Mizuho Bank Ltd. LIQ), 0.030%, 12/1/2021 | 11,500,000 | |
58,500,000 | New York City, NY Transitional Finance Authority, Stage Trust 3a-7 (Series 2020-002) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 58,500,000 | |
300,000 | New York City, NY, (Subseries A-7) Daily VRDNs, (Bank of the West, San Francisco, CA LOC), 0.050%, 12/1/2021 | 300,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 10,980,000 | New York City, NY, (Subseries B-5) Daily VRDNs, (Barclays Bank PLC LIQ), 0.050%, 12/1/2021 | $10,980,000 | |
7,580,000 | New York City, NY, Fiscal 2013 (Subseries A-3) Daily VRDNs, (Mizuho Bank Ltd. LOC), 0.030%, 12/1/2021 | 7,580,000 | |
10,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.200%, 12/2/2021 | 10,000,000 | |
5,540,000 | New York State Dormitory Authority (Montefiore Medical Center), Tender Option Bond Trust Receipts (Series 2020-XM0922) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.110%, 12/2/2021 | 5,540,000 | |
4,900,000 | North Merrick, NY Union Free School District TANs, 1.000%, 6/24/2022 | 4,922,009 | |
50,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Royal Bank of Canada LIQ), 0.100%, 12/2/2021 | 50,000,000 | |
6,735,000 | Otsego County, NY BANs, 1.250%, 3/18/2022 | 6,753,895 | |
9,610,000 | Peekskill, NY City School District BANs, 1.000%, 6/29/2022 | 9,654,122 | |
6,093,684 | Union, NY BANs, 0.750%, 2/25/2022 | 6,101,552 | |
2,658,520 | Vestal, NY CSD, (Series B) BANs, 1.000%, 9/30/2022 | 2,675,690 | |
4,770,000 | Washington County, NY BANs, 1.000%, 3/25/2022 | 4,781,293 | |
5,025,000 | York, NY CSD BANs, 1.250%, 6/23/2022 | 5,053,843 | |
TOTAL | 355,073,423 | ||
North Carolina— 0.4% | |||
2,000,000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health (previously Carolinas HealthCare) System), (Series 2007E) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 2,000,000 | |
5,080,000 | Clark Township, NJ BANs, 1.000%, 12/2/2021 | 5,080,069 | |
2,200,000 | University of North Carolina at Chapel Hill (University of North Carolina Hospitals), (Series 2001A) Daily VRDNs, (TD Bank, N.A. LIQ), 0.030%, 12/1/2021 | 2,200,000 | |
TOTAL | 9,280,069 | ||
North Dakota— 0.1% | |||
3,200,000 | University of North Dakota, Tender Option Bond Trust Receipts (Series 2021-XG0336) Weekly VRDNs, (Toronto Dominion Bank LIQ)/(Toronto Dominion Bank LOC), 0.090%, 12/2/2021 | 3,200,000 | |
Ohio— 3.6% | |||
1,650,000 | Avon, OH, Water System Improvement Revenue Bonds BANs, 1.000%, 1/27/2022 | 1,651,928 | |
2,713,300 | Fairborn, OH, (Series B) BANs, 1.000%, 8/31/2022 | 2,729,539 | |
14,400,000 | Franklin County, OH Mortgage Revenue (Trinity Healthcare Credit Group), (Series 2013OH) TOBs, 0.100%, Mandatory Tender 2/1/2022 | 14,400,000 | |
9,000,000 | Grove City, OH BANs, 1.000%, 7/7/2022 | 9,042,905 | |
23,640,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | 23,640,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Ohio— continued | |||
$ 14,800,000 | Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Barclays Golden Blue (Series 2020-002) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.170%, 12/2/2021 | $14,800,000 | |
10,000,000 | Ohio University, (RBC Muni Products Series G-27) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 12/1/2021 | 10,000,000 | |
7,290,000 | Sandusky, OH BANs, 1.000%, 9/30/2022 | 7,335,872 | |
4,500,000 | Tipp City, OH BANs, 0.750%, 2/9/2022 | 4,504,647 | |
TOTAL | 88,104,891 | ||
Oklahoma— 0.1% | |||
3,410,000 | Oklahoma Development Finance Authority (OU Medicine), Tender Option Bond Trust Receipts (Series 2018-XG0210) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.100%, 12/2/2021 | 3,410,000 | |
Pennsylvania— 4.4% | |||
6,400,000 | Allegheny County, PA HDA (Dialysis Clinic, Inc.), (Series 1997) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.080%, 12/2/2021 | 6,400,000 | |
11,460,000 | Allegheny County, PA HDA (UPMC Health System), Tender Option Bond Trust Receipts (Series 2019-XM0758) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.120%, 12/2/2021 | 11,460,000 | |
4,490,000 | Berks County, PA IDA (Tower Health), Tender Option Bond Trust Certificates (Series 2018-XL0061) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.100%, 12/2/2021 | 4,490,000 | |
3,150,000 | Central Bradford Progress Authority, PA (Guthrie Clinic), (Series 2020-XF 1259) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | 3,150,000 | |
2,240,000 | Chester County, PA HEFA (Tel Hai Obligated Group Project), (Series of 2009) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.150%, 12/2/2021 | 2,240,000 | |
1,665,000 | Pennsylvania Economic Development Financing Authority (UPMC Health System), Tender Option Bond Trust Receipts (2015-ZM0088) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 1,665,000 | |
11,995,000 | Pennsylvania State Higher Education Facilities Authority (Foundation for Indiana University of Pennsylvania), RBC Muni Products (E-75) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.220%, Optional Tender 1/3/2022 | 11,995,000 | |
4,750,000 | Pennsylvania State Turnpike Commission, (Series 2017-ZM0535) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Citibank N.A., New York LIQ), 0.100%, 12/2/2021 | 4,750,000 | |
20,000,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5024) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 20,000,000 | |
10,000,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5025) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.070%, 12/1/2021 | 10,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$ 8,975,000 | Pennsylvania State Turnpike Commission, Tender Option Bond Trust Certificates (Series 2020-XM0861) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | $8,975,000 | |
1,525,000 | Philadelphia, PA Authority for Industrial Development (Susquehanna Net Zero Housing, L.P.), Tender Option Bond Trust Floater Certificates (2020-MIZ9051) VRENs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 0.300%, 12/2/2021 | 1,525,000 | |
6,865,000 | Philadelphia, PA School District, Tender Option Bond Trust Receipts (Series 2020-XF0881) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 0.090%, 12/2/2021 | 6,865,000 | |
14,000,000 | State Public School Building Authority, PA (Philadelphia, PA School District), Tender Option Bond Trust Certificates (2016-XG0085) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Credit Suisse AG LIQ), 0.090%, 12/2/2021 | 14,000,000 | |
TOTAL | 107,515,000 | ||
South Carolina— 1.3% | |||
18,000,000 | South Carolina Jobs-EDA (Palmetto Health Alliance), (Series 2019-BAML5004) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.090%, 12/2/2021 | 18,000,000 | |
12,670,000 | South Carolina Transportation Infrastructure Bank, Tender Option Bond Trust Receipts (Series G-109) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 4/1/2022 | 12,670,000 | |
TOTAL | 30,670,000 | ||
Tennessee— 1.5% | |||
2,600,000 | Blount County, TN Public Building Authority (Knox County, TN), (Series C-3-A) Weekly VRDNs, (Truist Bank LIQ), 0.140%, 12/2/2021 | 2,600,000 | |
4,100,000 | Metropolitan Government Nashville & Davidson County, TN HEFA (Meharry Medical College), (Series 2009) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.110%, 12/3/2021 | 4,100,000 | |
15,000,000 | Metropolitan Government Nashville & Davidson County, TN, (2014 Program), CPX, 0.100%, Mandatory Tender 2/1/2022 | 15,000,000 | |
6,945,000 | Sevier County, TN Public Building Authority (Sevier County, TN), Local Government Public Improvement Bonds (Series VII-B-1) Weekly VRDNs, (Bank of America N.A. LOC), 0.060%, 12/1/2021 | 6,945,000 | |
7,900,000 | Sevier County, TN Public Building Authority, (Series V-B-1) Weekly VRDNs, (Truist Bank LOC), 0.140%, 12/2/2021 | 7,900,000 | |
TOTAL | 36,545,000 | ||
Texas— 8.6% | |||
40,000,000 | Harris County, TX Cultural Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Subseries 2009C-1), CP, 0.080%, Mandatory Tender 1/4/2022 | 40,000,000 | |
34,000,000 | Harris County, TX Cultural Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Subseries 2009C-1), CP, 0.100%, Mandatory Tender 2/2/2022 | 34,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 25,000,000 | Port Arthur Navigation District, TX IDC (TOTAL Petrochemicals USA, Inc.), (Series 2012) Weekly VRDNs, (GTD by TotalEnergies SE), 0.090%, 12/1/2021 | $25,000,000 | |
7,600,000 | Port Arthur Navigation District, TX IDC (TOTAL Petrochemicals USA, Inc.), (Series 2012B) Weekly VRDNs, (GTD by TotalEnergies SE), 0.080%, 12/1/2021 | 7,600,000 | |
7,500,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002B) Weekly VRDNs, 0.100%, 12/1/2021 | 7,500,000 | |
30,000,000 | Port of Port Arthur Navigation District of Jefferson County, TX (TOTAL Petrochemicals USA, Inc.), (Series 2010) Weekly VRDNs, (GTD by TotalEnergies SE), 0.080%, 12/1/2021 | 30,000,000 | |
41,000,000 | Port of Port Arthur Navigation District of Jefferson County, TX (TOTAL Petrochemicals USA, Inc.), Exempt Facilities Revenue Bonds (Series 2009) Weekly VRDNs, (GTD by TotalEnergies SE), 0.080%, 12/1/2021 | 41,000,000 | |
4,000,000 | South Texas CCD, (RBC Muni Products G-35) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.080%, 12/2/2021 | 4,000,000 | |
14,700,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), (Series 2011C) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 14,700,000 | |
6,775,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Methodist Hospitals of Dallas), (Series 2008A) Daily VRDNs, (TD Bank, N.A. LOC), 0.030%, 12/1/2021 | 6,775,000 | |
TOTAL | 210,575,000 | ||
Virginia— 3.8% | |||
4,765,000 | Alexandria, VA, Solar Eclipse (2017-0044) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 12/2/2021 | 4,765,000 | |
1,850,000 | Fairfax County, VA EDA (Young Men’s Christian Association of Metropolitan Washington), (Series 2001) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 0.150%, 12/3/2021 | 1,850,000 | |
3,500,000 | Hampton Roads, VA Transportation Accountability Commission, Tender Option Bond Trust Receipts (Series 2020-ZF0997) Weekly VRDNs, (Bank of America N.A. LIQ), 0.080%, 12/2/2021 | 3,500,000 | |
250,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003A) Weekly VRDNs, 0.060%, 12/1/2021 | 250,000 | |
5,200,000 | Loudoun County, VA, Solar Eclipse (Series 2017-0038) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 12/2/2021 | 5,200,000 | |
335,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), (Series 2017C) Weekly VRDNs, (Truist Bank LOC), 0.140%, 12/2/2021 | 335,000 | |
6,210,000 | Metropolitan Washington, DC Airports Authority (Dulles Metrorail and Capital Improvement Project), Tender Option Bond Trust Certificates (Series 2019-ZM0795) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | 6,210,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Virginia— continued | |||
$ 2,535,000 | Metropolitan Washington, DC Airports Authority (Dulles Metrorail and Capital Improvement Project), Tender Option Bond Trust Certificates (Series 2019-ZM0796) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.130%, 12/2/2021 | $2,535,000 | |
5,330,000 | Roanoke, VA EDA (Carilion Health System Obligated Group), Tender Option Bond Trust Receipts (Series 2020-XF0955) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.080%, 12/2/2021 | 5,330,000 | |
41,670,000 | Suffolk, VA EDA (Sentara Health Systems Obligation Group), Tender Option Bond Trust Floater Certificates (2020-MIZ9025) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.120%, 12/2/2021 | 41,670,000 | |
2,000,000 | University of Virginia (The Rectors and Visitors of), Solar Eclipse (Series 2017-0017) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 12/2/2021 | 2,000,000 | |
8,585,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-XF0926) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 8,585,000 | |
4,500,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0927) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.120%, 12/2/2021 | 4,500,000 | |
6,640,000 | Virginia State Public Building Authority Public Facilities (Virginia State), RBC Muni Products (Series G-40) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.250%, Optional Tender 2/1/2022 | 6,640,000 | |
TOTAL | 93,370,000 | ||
West Virginia— 0.3% | |||
1,475,000 | Morgantown, WV Combined Utility System (Morgantown Utility Board, Inc.), Tender Option Bond Trust Receipts (Series 2018-ZF0672) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.100%, 12/2/2021 | 1,475,000 | |
6,000,000 | West Virginia State Hospital Finance Authority (Cabell Huntington Hospital), (Series 2008A) Weekly VRDNs, (Truist Bank LOC), 0.140%, 12/2/2021 | 6,000,000 | |
TOTAL | 7,475,000 | ||
Wisconsin— 1.0% | |||
5,000,000 | Milwaukee County, WI Metropolitan Sewer District, Solar Eclipse 2017-0036 Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.040%, 12/1/2021 | 5,000,000 | |
5,730,000 | Public Finance Authority, WI (Bradford Preparatory School), Tender Option Bond Trust Receipts (2020-XF2887) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.250%, 12/2/2021 | 5,730,000 | |
1,030,000 | Public Finance Authority, WI (Carolina Charter Academy, Inc.), Tender Option Bond Trust Receipts (Series 2021-XF2931) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.180%, 12/2/2021 | 1,030,000 | |
9,331,000 | Wisconsin Center District, Tender Option Bond Trust Receipts (Series 2020-XF1208) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.090%, 12/2/2021 | 9,331,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Wisconsin— continued | |||
$ 4,000,000 | Wood County, WI BANs, 0.750%, 3/7/2022 | $4,003,055 | |
TOTAL | 25,094,055 | ||
TOTAL INVESTMENT IN SECURITIES—101.8% (AT AMORTIZED COST)2 | 2,490,932,288 | ||
OTHER ASSETS AND LIABILITIES - NET—(1.8)%3 | (43,776,713) | ||
TOTAL NET ASSETS—100% | $2,447,155,575 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CCD | —Community College District | |
CDA | —Community Development Authority | |
COL | —Collateralized | |
CP | —Commercial Paper | |
CPX | —Commercial Paper Extendible | |
CSD | —Central School District | |
EDA | —Economic Development Authority | |
FHLB | —Federal Home Loan Bank | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HDA | —Hospital Development Authority | |
HEFA | —Health and Education Facilities Authority | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDC | —Industrial Development Corporation | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCR | —Pollution Control Revenue | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
TANs | —Tax Anticipation Notes | |
TOBs | —Tender Option Bonds | |
USD | —United States Dollar | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2021 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2021 | 2020 | 2018 | 2017 | 2016 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||||
Net investment income | 0.0002 | 0.001 | 0.012 | 0.012 | 0.010 | 0.006 | 0.0002 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.002 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.001 | 0.012 | 0.012 | 0.010 | 0.008 | 0.0002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.000)2 | (0.001) | (0.012) | (0.012) | (0.010) | (0.006) | (0.000)2 |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.002) | (0.000)2 |
Total Distributions | (0.000)2 | (0.001) | (0.012) | (0.012) | (0.010) | (0.008) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.01% | 0.06% | 1.19% | 1.22% | 1.03% | 0.77% | 0.11% |
Ratios to Average Net Assets: | |||||||
Net expenses4 | 0.12%5 | 0.21% | 0.21% | 0.21%5 | 0.21% | 0.21% | 0.13%6 |
Net investment income | 0.01%5 | 0.06% | 1.14% | 1.46%5 | 1.03% | 0.57% | 0.08% |
Expense waiver/ reimbursement7 | 0.18%5 | 0.09% | 0.08% | 0.09%5 | 0.09% | 0.09% | 0.17% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $2,258,394 | $2,415,796 | $4,131,257 | $3,403,098 | $3,054,475 | $2,270,120 | $4,088,135 |
1 | The Fund has changed its fiscal year end from July 31 to May 31. This period represents the ten-month period from August 1, 2018 to May 31, 2019. |
2 | Represents less than $0.001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | Computed on an annualized basis. |
6 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio was 0.13% for the year ended July 31, 2016, after taking into account these expense reductions. |
7 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
November 30, 2021 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $2,490,932,288 |
Cash | 904,932 |
Income receivable | 1,800,618 |
Receivable for investments sold | 3,017,778 |
Receivable for shares sold | 302,034 |
Total Assets | 2,496,957,650 |
Liabilities: | |
Payable for investments purchased | 47,058,734 |
Payable for shares redeemed | 2,620,377 |
Income distribution payable | 7,683 |
Payable for investment adviser fee (Note 4) | 1,974 |
Payable for administrative fee (Note 4) | 5,248 |
Accrued expenses (Note 4) | 108,059 |
Total Liabilities | 49,802,075 |
Net assets for 2,446,951,698 shares outstanding | $2,447,155,575 |
Net Assets Consist of: | |
Paid-in capital | $2,446,932,215 |
Total distributable earnings (loss) | 223,360 |
Total Net Assets | $2,447,155,575 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$2,258,393,972 ÷ 2,258,205,822 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$18,945,242 ÷ 18,943,653 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$169,816,361 ÷ 169,802,223 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2021 (unaudited)
Investment Income: | |
Interest | $1,573,615 |
Expenses: | |
Investment adviser fee (Note 4) | 2,559,324 |
Administrative fee (Note 4) | 1,001,667 |
Custodian fees | 39,143 |
Transfer agent fees | 12,568 |
Directors’/Trustees’ fees (Note 4) | 7,660 |
Auditing fees | 11,491 |
Legal fees | 10,145 |
Portfolio accounting fees | 108,138 |
Other service fees (Notes 2 and 4) | 234,564 |
Share registration costs | 44,630 |
Printing and postage | 15,064 |
Miscellaneous (Note 4) | 23,169 |
TOTAL EXPENSES | 4,067,563 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 4) | (2,323,263) |
Waivers/reimbursement of other operating expenses (Notes 2 and 4) | (236,312) |
TOTAL WAIVERS AND REIMBURSEMENT | (2,559,575) |
Net expenses | 1,507,988 |
Net investment income | $65,627 |
Net realized gain on investments | 44,449 |
Change in net assets resulting from operations | $110,076 |
Six Months Ended (unaudited) 11/30/2021 | Year Ended 5/31/2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $65,627 | $2,057,294 |
Net realized gain (loss) | 44,449 | 201,562 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 110,076 | 2,258,856 |
Distributions to Shareholders: | ||
Wealth Shares | (120,727) | (2,157,193) |
Advisor Shares | (984) | (24,678) |
Service Shares | (9,679) | (22,867) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (131,390) | (2,204,738) |
Share Transactions: | ||
Proceeds from sale of shares | 1,402,860,892 | 3,970,745,002 |
Net asset value of shares issued to shareholders in payment of distributions declared | 86,314 | 1,557,805 |
Cost of shares redeemed | (1,615,893,099) | (5,703,022,395) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (212,945,893) | (1,730,719,588) |
Change in net assets | (212,967,207) | (1,730,665,470) |
Net Assets: | ||
Beginning of period | 2,660,122,782 | 4,390,788,252 |
End of period | $2,447,155,575 | $2,660,122,782 |
Other Service Fees Incurred | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $234,564 | $(234,564) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 1,279,572 | $1,279,572 | 3,567,284 | $3,567,284 |
Shares issued to shareholders in payment of distributions declared | 80 | 80 | 1,520 | 1,520 |
Shares redeemed | (1,437,038) | (1,437,038) | (5,284,309) | (5,284,309) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (157,386) | $(157,386) | (1,715,505) | $(1,715,505) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Advisor Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 6,207 | $6,207 | 25,701 | $25,701 |
Shares issued to shareholders in payment of distributions declared | 1 | 1 | 25 | 25 |
Shares redeemed | (5,424) | (5,424) | (49,750) | (49,750) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 784 | $784 | (24,024) | $(24,024) |
Six Months Ended 11/30/2021 | Year Ended 5/31/2021 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 117,082 | $117,082 | 377,759 | $377,759 |
Shares issued to shareholders in payment of distributions declared | 5 | 5 | 13 | 13 |
Shares redeemed | (173,431) | (173,431) | (368,963) | (368,963) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (56,344) | $(56,344) | 8,809 | $8,809 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (212,946) | $(212,946) | (1,730,720) | $(1,730,720) |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Beginning Account Value 6/1/2021 | Ending Account Value 11/30/2021 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.10 | $20.60 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.47 | $20.61 |
1 | Expenses are equal to the Fund’s Wealth Shares annualized net expense ratio of 0.12%, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half-year period). |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Wealth Shares current Fee Limit of 0.21% (as reflected in the Notes to Financial Statements, Note 4 under Expense Limitation), multiplied by the average account value over the period, multiplied by 183/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.05 and $1.07, respectively. |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Item 2. | Code of Ethics |
Not Applicable
Item 3. | Audit Committee Financial Expert |
Not Applicable
Item 4. | Principal Accountant Fees and Services |
Not Applicable
Item 5. | Audit Committee of Listed Registrants |
Not Applicable
Item 6. | Schedule of Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this form.
(b) Not Applicable; Fund had no divestments during the reporting period covered since the previous Form N-CSR filing.
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 |
No Changes to Report
Item 11. | Controls and Procedures |
(a) The registrant’s President and Treasurer have concluded that the
registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-CSR.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the registrant’s most recent fiscal half-year (the registrant’s second fiscal half-year in the case of an annual report) that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies |
Not Applicable
Item 13. | Exhibits |
(a)(1) Code of Ethics- Not Applicable to this Report.
(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.
(a)(3) Not Applicable.
(b) Certifications pursuant to 18 U.S.C. Section 1350.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant Federated Hermes Money Market Obligations Trust
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date January 24, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By /S/ J. Christopher Donahue
J. Christopher Donahue
Principal Executive Officer
Date January 24, 2022
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date January 24, 2022