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: 5/31/23
Date of Reporting Period: Six months ended 11/30/22
Item 1. | Reports to Stockholders |
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
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 76.0% |
Municipal Notes | 18.0% |
Commercial Paper | 6.3% |
Other Assets and Liabilities—Net2 | (0.3)% |
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 | 62.1% |
8-30 Days | 3.3% |
31-90 Days | 24.9% |
91-180 Days | 2.8% |
181 Days or more | 7.2% |
Other Assets and Liabilities—Net2 | (0.3)% |
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— 100.3% | ||
Alabama— 1.9% | |||
$ 9,275,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2007) Weekly VRDNs, (Comerica Bank LOC), 2.000%, 12/1/2022 | $ 9,275,000 | |
10,000,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2011) Weekly VRDNs, (Comerica Bank LOC), 2.000%, 12/1/2022 | 10,000,000 | |
33,700,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 2.020%, 12/7/2022 | 33,700,000 | |
TOTAL | 52,975,000 | ||
Alaska— 1.1% | |||
32,000,000 | Valdez, AK Marine Terminal (Phillips Transportation Alaska, Inc.), (Series 1994A) Weekly VRDNs, (ConocoPhillips GTD), 1.900%, 12/7/2022 | 32,000,000 | |
Arizona— 1.3% | |||
32,500,000 | Arizona State IDA (Vaseo Apartments LP), Mizuho 3a-7 (2021-MIZ9088) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 32,500,000 | |
5,610,000 | Maricopa County, AZ, IDA (Redman Homes, Inc.), (Series 1999) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 2.060%, 12/1/2022 | 5,610,000 | |
TOTAL | 38,110,000 | ||
Arkansas— 0.5% | |||
13,500,000 | Blytheville, AR (Nucor Corp.), (Series 2002) Weekly VRDNs, 2.050%, 12/7/2022 | 13,500,000 | |
California— 18.4% | |||
3,000,000 | California Educational Facilities Authority (Stanford University), (Series S-4), CP, 1.750%, Mandatory Tender 12/6/2022 | 3,000,000 | |
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), 2.050%, 12/1/2022 | 20,000,000 | |
31,205,000 | California Health Facilities Financing Authority (Kaiser Permanente), (Series 2006E), CP, 1.950%, Mandatory Tender 12/15/2022 | 31,205,000 | |
2,356,000 | California HFA (Hope on Broadway LP), Tender Option Bond Trust Receipts (Series 2022-XF3018) Weekly VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 2.100%, 12/1/2022 | 2,356,000 | |
4,500,000 | California Municipal Finance Authority (Brawley Pacific Associates III), Tender Option Bond Trust Receipts (Series 2022-XF3027) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 4,500,000 | |
30,500,000 | California Municipal Finance Authority (Waste Management, Inc.), (Series 2020) TOBs, (Waste Management Holdings, Inc. GTD), 2.950%, Mandatory Tender 12/1/2022 | 30,500,000 | |
2,000,000 | California PCFA (C.A. and E.J. Vanderham Family Trust), (Series 2003) Weekly VRDNs, (CoBank, ACB LOC), 2.000%, 12/1/2022 | 2,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 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), 2.000%, 12/1/2022 | $ 3,000,000 | |
2,940,000 | California PCFA (T & W Farms), (Series 2002) Weekly VRDNs, (Bank of America N.A. LOC), 2.000%, 12/1/2022 | 2,940,000 | |
5,154,000 | California Statewide Communities Development Authority (Essex Monarch La Brea Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9012) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 5,154,000 | |
22,184,000 | California Statewide Communities Development Authority (Essex Monarch Santa Monica Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9011) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 22,184,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 2.020%, Mandatory Tender 12/14/2022 | 10,000,000 | |
9,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 2.000%, Mandatory Tender 12/13/2022 | 9,000,000 | |
17,190,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 3.100%, Mandatory Tender 3/2/2023 | 17,190,000 | |
12,500,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-1), CP, 1.900%, Mandatory Tender 12/7/2022 | 12,500,000 | |
12,500,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-4), CP, 3.130%, Mandatory Tender 1/11/2023 | 12,500,000 | |
7,300,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: One Uptown Newport Apartments) Weekly VRDNs, (FHLB of Des Moines LOC), 1.940%, 12/1/2022 | 7,300,000 | |
4,842,000 | Los Angeles County, CA (Hope on Broadway LP), Tender Option Bond Trust Receipts (2022-XF3019) Weekly VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 2.100%, 12/1/2022 | 4,842,000 | |
86,050,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Hollywood & Vine, LP), Mizuho 3a-7 (Series 2022-MIZ9089) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 86,050,000 | |
42,415,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Wilshire Vermont, LP), Mizuho 3a-7 (Series 2022-MIZ9090) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 42,415,000 | |
75,000,000 | Nuveen California Quality Municipal Income Fund, RIB Floater Trust (Series 2022-FR-RI-005) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.230%, 12/1/2022 | 75,000,000 | |
45,000,000 | 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 2022-MIZ9110) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 45,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 2,770,000 | Sacramento County, CA HDA (Shiloh Arms Partners LP), Mizuho 3a-7 (2022-MIZ9093) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | $ 2,770,000 | |
30,000,000 | San Francisco, CA City and County (Block 9 MRU Residential LLC), Mizuho 3a-7 (Series 2022-MIZ9100) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 30,000,000 | |
43,230,000 | 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), 2.150%, 12/1/2022 | 43,230,000 | |
TOTAL | 524,636,000 | ||
Colorado— 0.4% | |||
4,615,000 | Colorado HFA (Acme Manufacturing Company, Inc.), (Series 2016A) Weekly VRDNs, (UMB Bank, N.A. LOC), 2.090%, 12/1/2022 | 4,615,000 | |
1,275,000 | Colorado HFA (Class I Bonds) (Xybix Systems, Inc.), (Series 2007) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 2.070%, 12/1/2022 | 1,275,000 | |
1,230,000 | Colorado HFA (Popiel Properties LLC), (Series 2004A) Weekly VRDNs, (UMB Bank, N.A. LOC), 2.160%, 12/1/2022 | 1,230,000 | |
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), 2.150%, Optional Tender 12/1/2022 | 3,000,000 | |
TOTAL | 10,120,000 | ||
Connecticut— 0.5% | |||
4,145,000 | Connecticut State Special Transportation Fund, RBC Muni Products (Series G-110) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.080%, Optional Tender 4/3/2023 | 4,145,000 | |
10,060,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 10,060,000 | |
TOTAL | 14,205,000 | ||
Florida— 4.1% | |||
2,100,000 | Capital Trust Agency, FL (Milestones Community School, Inc.), Tender Option Bond Trust Receipts (2022-XF2965) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 2,100,000 | |
14,000,000 | Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), (Series A) TOBs, (GTD by United States Treasury), 2.900%, Mandatory Tender 4/4/2023 | 14,000,000 | |
4,280,000 | 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), 2.100%, 12/1/2022 | 4,280,000 | |
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), 2.150%, Optional Tender 4/3/2023 | 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), 2.100%, Optional Tender 3/1/2023 | 5,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— continued | |||
$ 20,500,000 | Liberty County, FL (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 2.050%, 12/1/2022 | $ 20,500,000 | |
11,830,000 | Miami-Dade County, FL (County of Miami-Dade Seaport Department), Tender Option Bond Trust Certificates (2022-XF2988) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.040%, 12/1/2022 | 11,830,000 | |
7,490,000 | Miami-Dade County, FL HFA (Cordoba FL TC, LP), Mizuho 3a-7 (2021-MIZ9072) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 7,490,000 | |
4,630,000 | Miami-Dade County, FL HFA (Superior Manor Phase II LLC), Mizuho 3a-7 (2022-MIZ9087) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 4,630,000 | |
37,280,000 | Miami-Dade County, FL School District, (Series 2022) TANs, 4.000%, 2/23/2023 | 37,380,046 | |
TOTAL | 116,210,046 | ||
Georgia— 6.1% | |||
4,200,000 | Appling County, GA Development Authority (Georgia Power Co.), (1st Series 1997) Daily VRDNs, 1.700%, 12/1/2022 | 4,200,000 | |
28,000,000 | Appling County, GA Development Authority (Georgia Power Co.), (First Series 2011) Daily VRDNs, 1.700%, 12/1/2022 | 28,000,000 | |
9,750,000 | Atlanta, GA, Urban Residential Finance Authority (Columbia at Sylvan Hills Apartments), (Series 2006) Weekly VRDNs, (FNMA LOC), 2.040%, 12/1/2022 | 9,750,000 | |
6,900,000 | Burke County, GA Development Authority (Georgia Power Co.), (Series 2008) Daily VRDNs, 1.700%, 12/1/2022 | 6,900,000 | |
8,815,000 | Columbus, GA Development Authority (Avalon Apartments LP), (Series 2008) Weekly VRDNs, (FNMA LOC), 2.040%, 12/1/2022 | 8,815,000 | |
10,000,000 | Columbus, GA Development Authority (Lumpkin Park Partners, Ltd.), (Series 2008) Weekly VRDNs, (FHLMC LOC), 2.040%, 12/1/2022 | 10,000,000 | |
13,870,000 | Effingham County, GA Development Authority (Georgia Power Co.), (Series 2003) Daily VRDNs, 1.710%, 12/1/2022 | 13,870,000 | |
360,000 | Fitzgerald & Ben Hill County, GA Development Authority (Agri-Products, Inc.), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 2.000%, 12/1/2022 | 360,000 | |
3,700,000 | Floyd County, GA Development Authority PCRB (Georgia Power Co.), (First Series 1996) Daily VRDNs, 1.700%, 12/1/2022 | 3,700,000 | |
2,000,000 | Heard County, GA Development Authority (Georgia Power Co.), (First Series 1996) Daily VRDNs, 1.710%, 12/1/2022 | 2,000,000 | |
9,300,000 | Monroe County, GA Development Authority Pollution Control (Georgia Power Co.), (First Series 1997) Daily VRDNs, 1.700%, 12/1/2022 | 9,300,000 | |
1,775,000 | Savannah, GA EDA (Consolidated Utilities, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 2.030%, 12/1/2022 | 1,775,000 | |
72,250,000 | Savannah, GA EDA (Home Depot, Inc.), (Series 1995A) Weekly VRDNs, 1.940%, 12/7/2022 | 72,250,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Georgia— continued | |||
$ 1,960,000 | Wayne County, GA, IDA (Sierra International Machinery LLC), (Series 2011) Weekly VRDNs, (Truist Bank LOC), 2.030%, 12/1/2022 | $ 1,960,000 | |
TOTAL | 172,880,000 | ||
Hawaii— 0.2% | |||
6,110,000 | Hawaii State Department of Budget & Finance (Queen’s Health Systems), (2015 Series C) VRENs, 2.350%, 12/1/2022 | 6,110,000 | |
Idaho— 0.5% | |||
13,690,000 | American Falls, ID Reservoir District (Idaho Power Co.), (Series 2000) Weekly VRDNs, 2.400%, 12/7/2022 | 13,690,000 | |
Illinois— 0.6% | |||
17,891,398 | 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), 2.200%, Optional Tender 12/15/2022 | 17,891,398 | |
Indiana— 2.2% | |||
6,000,000 | Bloomington, IN EDRB (SY Henderson Court Investors, LP), (Series 2008: Henderson Court Apartments) Weekly VRDNs, (FHLMC LOC), 2.040%, 12/1/2022 | 6,000,000 | |
14,250,000 | Indiana Development Finance Authority (Duke Energy Indiana, Inc.), (Series 2003B) Weekly VRDNs, 2.030%, 12/7/2022 | 14,250,000 | |
200,000 | 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), 2.050%, 12/1/2022 | 200,000 | |
25,000,000 | Indiana State Finance Authority (Trinity Healthcare Credit Group), (Series 2008 D-2), CP, 2.000%, Mandatory Tender 1/4/2023 | 25,000,000 | |
17,000,000 | Indiana State Finance Authority Environmental (Fulcrum Centerpoint, LLC), (Series 2022) TOBs, (United States Treasury GTD), 4.550%, Mandatory Tender 11/15/2023 | 17,000,000 | |
TOTAL | 62,450,000 | ||
Iowa— 0.2% | |||
5,300,000 | Iowa Finance Authority (Five Star Holdings LLC), (Series 2007) Weekly VRDNs, (AgriBank FCB LOC), 2.000%, 12/1/2022 | 5,300,000 | |
Kansas— 0.9% | |||
4,900,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007A) Weekly VRDNs, 2.150%, 12/7/2022 | 4,900,000 | |
21,000,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007B) Weekly VRDNs, 2.150%, 12/7/2022 | 21,000,000 | |
TOTAL | 25,900,000 | ||
Kentucky— 1.2% | |||
3,435,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Mandatory Tender 5/1/2023 | 3,435,000 | |
11,350,000 | Louisville & Jefferson County, KY Metropolitan Government (Louisville Gas & Electric Co.), (Series A) Weekly VRDNs, 1.980%, 12/2/2022 | 11,350,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Kentucky— continued | |||
$ 18,270,000 | Meade County, KY Industrial Building Revenue Authority (Nucor Corp.), (Series 2021B-1) Daily VRDNs, 1.800%, 12/1/2022 | $ 18,270,000 | |
TOTAL | 33,055,000 | ||
Louisiana— 3.6% | |||
9,785,000 | Calcasieu Parish, LA Public Trust Authority (WPT Corp.), (Series 1997) Weekly VRDNs, (Bank of America N.A. LOC), 2.350%, 12/7/2022 | 9,785,000 | |
14,200,000 | East Baton Rouge Parish, LA IDB (Georgia-Pacific LLC), Solid Waste Disposal Revenue Bonds (Series 2004) Weekly VRDNs, 2.000%, 12/7/2022 | 14,200,000 | |
11,000,000 | Louisiana Local Government Environmental Facilities CDA (American Biocarbon, CT LLC) TOBs, (GTD by United States Treasury), 3.850%, Mandatory Tender 8/1/2023 | 11,000,000 | |
18,000,000 | Louisiana Local Government Environmental Facilities CDA (American Biocarbon, CT LLC), (Series 2021) TOBs, (GTD by United States Treasury), 2.125%, Mandatory Tender 12/1/2022 | 18,000,000 | |
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), 2.150%, 12/1/2022 | 3,790,000 | |
18,500,000 | St. James Parish, LA (Nucor Steel Louisiana LLC), (Series 2010A-1) Weekly VRDNs, (GTD by Nucor Corp.), 2.230%, 12/7/2022 | 18,500,000 | |
27,400,000 | St. James Parish, LA (Nucor Steel Louisiana LLC), (Series 2010B-1) Weekly VRDNs, (GTD by Nucor Corp.), 2.300%, 12/7/2022 | 27,400,000 | |
TOTAL | 102,675,000 | ||
Maine— 0.8% | |||
22,260,000 | Old Town, ME (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 2.100%, 12/7/2022 | 22,260,000 | |
Maryland— 1.7% | |||
5,020,000 | Baltimore County, MD (Oak Crest Village Inc.), 3a-7 Credit Enhanced Trust (Series 2022-032) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.100%, 12/1/2022 | 5,020,000 | |
5,000,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 5,000,000 | |
22,000,000 | Maryland Health and Higher Educational Facilities Authority (Integrace Obligated Group), 3a-7 Credit Enhanced Trust (Series 2022-024) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.100%, 12/1/2022 | 22,000,000 | |
15,910,000 | Montgomery County, MD (Trinity Healthcare Credit Group), (Series 2013MD) TOBs, 2.580%, Mandatory Tender 3/1/2023 | 15,910,000 | |
TOTAL | 47,930,000 | ||
Massachusetts— 1.3% | |||
27,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 2.850%, Mandatory Tender 1/11/2023 | 27,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Massachusetts— continued | |||
$ 10,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 2.950%, Mandatory Tender 12/2/2022 | $ 10,000,000 | |
TOTAL | 37,000,000 | ||
Michigan— 0.2% | |||
5,250,000 | Michigan Strategic Fund (Greenville Venture Partners LLC), (Series 2018) Weekly VRDNs, (CoBank, ACB LOC), 2.000%, 12/1/2022 | 5,250,000 | |
Minnesota— 0.9% | |||
25,600,000 | Roseville, MN, Tender Option Bond Trust Receipts (Series 2022-XF3034) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 25,600,000 | |
Mississippi— 0.2% | |||
5,865,000 | Mississippi Home Corp, Mizuho 3a-7 (Series 2022-XF3022) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 5,865,000 | |
Missouri— 1.3% | |||
30,000,000 | 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), 2.040%, 12/1/2022 | 30,000,000 | |
3,755,000 | Kansas City, MO Planned Industrial Expansion Authority (EPD3 Ridgeview LP), Mizuho 3a-7 (2022-MIZ9086) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 3,755,000 | |
2,500,000 | Lees Summit, MO IDA (EPD3 Ashbrooke LP), (Series 2020 MIZ9055) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,500,000 | |
TOTAL | 36,255,000 | ||
Montana— 0.2% | |||
3,510,000 | 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), 2.150%, 12/1/2022 | 3,510,000 | |
3,320,000 | 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), 2.150%, 12/1/2022 | 3,320,000 | |
TOTAL | 6,830,000 | ||
Multi-State— 11.9% | |||
63,500,000 | Invesco Municipal Opportunity Trust, PUTTERs 3a-7 (VMTP 5029) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | 63,500,000 | |
97,400,000 | Invesco Value Municipal Income Trust, PUTTERs 3a-7 (VMTP 5027) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | 97,400,000 | |
130,100,000 | Nuveen Municipal Credit Income Fund, PUTTERs 3a-7 (Series 5039) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | 130,100,000 | |
37,700,000 | Nuveen Municipal Credit Opportunities Fund, (Series A) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ), 2.000%, 12/1/2022 | 37,700,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Multi-State— continued | |||
$ 11,875,000 | Nuveen Municipal Credit Opportunities Fund, PUTTERs 3a-7 (Series 5033) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | $ 11,875,000 | |
TOTAL | 340,575,000 | ||
Nebraska— 0.3% | |||
7,500,000 | Stanton County, NE (Nucor Corp.), (Series 1996) Weekly VRDNs, 2.250%, 12/7/2022 | 7,500,000 | |
1,875,000 | Stanton County, NE (Nucor Corp.), (Series 1998) Weekly VRDNs, 2.250%, 12/7/2022 | 1,875,000 | |
TOTAL | 9,375,000 | ||
Nevada— 0.4% | |||
1,275,000 | Director of the State of Nevada Department of Business and Industry (575 Mill Street LLC), IDRB (Series 1998A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 2.110%, 12/1/2022 | 1,275,000 | |
11,500,000 | Nevada Housing Division (DWF V Summit Club Holdings LLC), Mizuho 3a-7 (2021-MIZ9091) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 11,500,000 | |
TOTAL | 12,775,000 | ||
New Jersey— 7.7% | |||
3,903,700 | Aberdeen Township, NJ BANs, 1.250%, 12/29/2022 | 3,906,084 | |
6,641,725 | Butler Borough, NJ BANs, 3.750%, 9/8/2023 | 6,683,960 | |
5,807,835 | Clementon, NJ, (Series A) BANs, 4.250%, 9/28/2023 | 5,851,875 | |
5,915,500 | Delran Township, NJ BANs, 4.250%, 9/5/2023 | 5,939,103 | |
14,770,000 | Freehold Borough, NJ BANs, 4.000%, 8/3/2023 | 14,875,883 | |
4,000,000 | Garwood, NJ BANs, 5.000%, 8/3/2023 | 4,024,284 | |
5,373,950 | Hammonton, NJ BANs, 5.000%, 10/26/2023 | 5,404,113 | |
2,436,000 | Haworth Borough, NJ BANs, 4.500%, 7/14/2023 | 2,443,776 | |
7,505,061 | Highlands, NJ BANs, 4.250%, 7/7/2023 | 7,555,040 | |
1,800,000 | Hillsdale Borough, NJ BANs, 1.000%, 12/2/2022 | 1,800,029 | |
2,561,000 | Hillsdale Borough, NJ BANs, 4.500%, 8/24/2023 | 2,572,781 | |
6,845,000 | Middle Township, NJ BANs, 3.750%, 9/7/2023 | 6,887,323 | |
4,023,775 | Mount Olive Township, NJ BANs, 1.250%, 12/15/2022 | 4,025,081 | |
5,968,000 | Mountainside, NJ BANs, 5.000%, 7/20/2023 | 6,001,046 | |
13,600,000 | New Brunswick, NJ BANs, 3.750%, 9/18/2023 | 13,689,481 | |
6,850,000 | New Jersey EDA (Yeshiva of North Jersey), (Series 2018) Weekly VRDNs, (Valley National Bank LOC), 2.200%, 12/1/2022 | 6,850,000 | |
3,380,000 | New Jersey EDA (Baptist Home Society of New Jersey) Weekly VRDNs, (Valley National Bank LOC), 2.200%, 12/1/2022 | 3,380,000 | |
11,255,000 | New Jersey EDA (Jewish Community Center on the Palisades), (Series 2016) Weekly VRDNs, (Valley National Bank LOC), 2.200%, 12/2/2022 | 11,255,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 1,285,000 | New Jersey EDA (Temple Emanuel of the Pascack Valley), (Series 2001/2019) Weekly VRDNs, (U.S. Bank, N.A. LOC), 2.150%, 12/2/2022 | $ 1,285,000 | |
4,160,000 | New Jersey Health Care Facilities Financing Authority (Christian Health Care Center), (Series A-2) Weekly VRDNs, (Valley National Bank LOC), 2.100%, 12/1/2022 | 4,160,000 | |
9,065,000 | New Jersey State EDA (Jewish Community Housing Corporation of Metropolitan New Jersey), (Series 2010) Weekly VRDNs, (Valley National Bank LOC), 2.020%, 12/1/2022 | 9,065,000 | |
6,716,000 | Park Ridge Borough, NJ BANs, 3.250%, 4/28/2023 | 6,742,624 | |
6,500,000 | Pemberton Township, NJ, (Series 2022) BANs, 4.000%, 5/31/2023 | 6,531,352 | |
6,200,000 | Ramsey, NJ BANs, 1.250%, 1/6/2023 | 6,204,869 | |
3,496,000 | Rochelle Park Township, NJ BANs, 4.500%, 8/9/2023 | 3,508,388 | |
4,041,000 | Saddle River, NJ BANs, 5.500%, 6/7/2023 | 4,071,451 | |
6,585,000 | Somers Point, NJ BANs, 1.250%, 12/20/2022 | 6,587,901 | |
2,345,000 | South Hackensack, NJ BANs, 1.250%, 12/15/2022 | 2,345,761 | |
6,136,000 | South River, NJ, (Series B) BANs, 1.250%, 12/16/2022 | 6,138,133 | |
3,588,154 | Springfield Township, NJ BANs, 1.250%, 12/8/2022 | 3,588,736 | |
3,544,300 | Springfield Township, NJ BANs, 4.250%, 9/7/2023 | 3,557,945 | |
25,000,000 | Stone Harbor, NJ BANs, 5.000%, 10/13/2023 | 25,155,613 | |
6,346,649 | Union Beach, NJ BANs, 5.000%, 7/25/2023 | 6,386,572 | |
3,807,000 | Winslow Township, NJ BANs, 3.750%, 9/14/2023 | 3,831,704 | |
8,068,496 | Woolwich, NJ BANs, 3.750%, 5/30/2023 | 8,115,429 | |
TOTAL | 220,421,337 | ||
New York— 4.8% | |||
3,846,510 | Alden Village, NY BANs, 3.750%, 9/7/2023 | 3,869,411 | |
2,000,000 | Hannibal, NY Central School District BANs, 4.250%, 6/28/2023 | 2,013,330 | |
5,590,000 | Hempstead (town), NY IDA MFH (Hempstead Village Housing Associates LP), (Series 2006) Weekly VRDNs, (FNMA LOC), 2.010%, 12/1/2022 | 5,590,000 | |
5,904,000 | Lowville, NY, (Series A) BANs, 3.250%, 8/24/2023 | 5,912,025 | |
8,000,000 | Massena, NY Central School District BANs, 4.000%, 6/29/2023 | 8,044,647 | |
3,670,000 | New Rochelle, NY IDA (180 Union Avenue Owner LP), (Series 2006: West End Phase I Facility) Weekly VRDNs, (Citibank N.A., New York LOC), 2.010%, 12/1/2022 | 3,670,000 | |
15,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 15,000,000 | |
72,800,000 | New York State HFA (42nd and 10th Street Associates LLC), 3a-7 High Grade Trust (Series 2022-007) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.300%, 12/1/2022 | 72,800,000 | |
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), 2.280%, 12/1/2022 | 10,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 6,700,000 | Penn-Yan, NY Central School District BANs, 4.250%, 6/28/2023 | $ 6,744,656 | |
1,554,371 | Walton, NY Central School District BANs, 4.000%, 6/28/2023 | 1,562,132 | |
2,500,000 | Watervliet, NY City School District BANs, 3.250%, 4/26/2023 | 2,510,760 | |
TOTAL | 137,716,961 | ||
North Carolina— 0.2% | |||
3,000,000 | Hertford County, NC Industrial Facilities & PCFA (Nucor Corp.), (Series 2000A) Weekly VRDNs, 2.050%, 12/7/2022 | 3,000,000 | |
3,000,000 | Yancey County, NC Industrial Facilities & PCFA (Altec Industries, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 2.030%, 12/1/2022 | 3,000,000 | |
TOTAL | 6,000,000 | ||
Ohio— 1.6% | |||
30,470,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 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), 2.050%, 12/1/2022 | 8,100,000 | |
7,000,000 | Toledo-Lucas County, OH Port Authority (Van Deurzen Dairy LLC), (Series 2006) Weekly VRDNs, (AgriBank FCB LOC), 2.000%, 12/1/2022 | 7,000,000 | |
TOTAL | 45,570,000 | ||
Oklahoma— 3.0% | |||
14,850,000 | Garfield County, OK Industrial Authority Pollution Control (Oklahoma Gas and Electric Co.), (Series 1995-A) Weekly VRDNs, 2.080%, 12/7/2022 | 14,850,000 | |
30,400,000 | Muskogee, OK Industrial Trust (Oklahoma Gas and Electric Co.), (1995 Series A) Weekly VRDNs, 2.000%, 12/7/2022 | 30,400,000 | |
40,450,000 | Muskogee, OK Industrial Trust (Oklahoma Gas and Electric Co.), (Series 1997A) Weekly VRDNs, 2.080%, 12/7/2022 | 40,450,000 | |
TOTAL | 85,700,000 | ||
Oregon— 0.1% | |||
4,360,000 | Port of Morrow, OR Pollution Control (Idaho Power Co.), (Series 2000) Weekly VRDNs, 2.400%, 12/7/2022 | 4,360,000 | |
Pennsylvania— 0.1% | |||
480,000 | East Hempfield Township, PA IDA (BGT Realty), (Series of 2005) Weekly VRDNs, (Fulton Bank, N.A. LOC), 2.200%, 12/1/2022 | 480,000 | |
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), 2.150%, 12/1/2022 | 2,000,000 | |
TOTAL | 2,480,000 | ||
South Carolina— 1.1% | |||
21,500,000 | Berkeley County, SC IDB (Nucor Corp.) Weekly VRDNs, 2.250%, 12/7/2022 | 21,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
South Carolina— continued | |||
$ 10,100,000 | Berkeley County, SC IDB (Nucor Corp.), (Series 1997) Weekly VRDNs, 2.250%, 12/7/2022 | $ 10,100,000 | |
TOTAL | 31,600,000 | ||
South Dakota— 0.1% | |||
3,000,000 | South Dakota Value Added Finance Authority (Prairie Gold Dairy LLC), (Series 2004) Weekly VRDNs, (CoBank, ACB LOC), 2.000%, 12/1/2022 | 3,000,000 | |
Tennessee— 1.8% | |||
5,500,000 | Covington, TN IDB (Charms Co.), (Series 1992) Weekly VRDNs, (Bank of America N.A. LOC), 2.000%, 12/7/2022 | 5,500,000 | |
25,620,000 | Memphis-Shelby County, TN Industrial Development Board - PCRB (Nucor Steel Memphis, Inc.), (Series 2007) Weekly VRDNs, (GTD by Nucor Corp.), 2.250%, 12/7/2022 | 25,620,000 | |
21,400,000 | Metropolitan Government Nashville & Davidson County, TN, (2014 Program), CPX, 2.850%, Mandatory Tender 2/1/2023 | 21,400,000 | |
TOTAL | 52,520,000 | ||
Texas— 13.0% | |||
2,700,000 | Alamo, TX CCD, RBC Muni Products (Series G-111) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Mandatory Tender 5/1/2023 | 2,700,000 | |
2,700,000 | El Paso, TX Housing Finance Corp., Mizuho 3a-7 (2022-MIZ9104) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,700,000 | |
4,000,000 | Jewett, TX Economic Development Corporation (Nucor Corp.), (Series 2003) Weekly VRDNs, 2.250%, 12/7/2022 | 4,000,000 | |
4,000,000 | Mission, TX Economic Development Corp. (Waste Management, Inc.), (Series 2020A) TOBs, (GTD by Waste Management Holdings, Inc.), 2.950%, Mandatory Tender 12/1/2022 | 4,000,000 | |
9,500,000 | Mission, TX Economic Development Corp. (Waste Management, Inc.), (Series 2020B) TOBs, (GTD by Waste Management Holdings, Inc.), 2.950%, Mandatory Tender 12/1/2022 | 9,500,000 | |
4,700,000 | North Texas Tollway Authority, RBC Municipal Products Trust (Series 2019 G-112) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 4,700,000 | |
61,600,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002A) Daily VRDNs, 1.900%, 12/1/2022 | 61,600,000 | |
18,825,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2003) Daily VRDNs, 1.970%, 12/1/2022 | 18,825,000 | |
25,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2005) Daily VRDNs, 1.970%, 12/1/2022 | 25,000,000 | |
40,600,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2006) Daily VRDNs, 1.970%, 12/1/2022 | 40,600,000 | |
3,900,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2007) Daily VRDNs, 1.970%, 12/1/2022 | 3,900,000 | |
22,450,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010A) Daily VRDNs, 1.850%, 12/1/2022 | 22,450,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 10,250,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010B) Daily VRDNs, 1.850%, 12/1/2022 | $ 10,250,000 | |
35,600,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010C) Daily VRDNs, 1.880%, 12/1/2022 | 35,600,000 | |
83,900,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010E) Weekly VRDNs, 2.600%, 12/7/2022 | 83,900,000 | |
26,000,000 | Texas State Affordable Housing Corp., Tender Option Bond Trust Receipts (Series 2022-XF3033) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 26,000,000 | |
15,000,000 | Texas State Department of Housing & Community Affairs (Onion Creek Housing Partners Ltd.), (Series 2007) Weekly VRDNs, (FNMA LOC), 2.040%, 12/1/2022 | 15,000,000 | |
TOTAL | 370,725,000 | ||
Virginia— 0.1% | |||
1,610,000 | Emporia, VA Industrial Development Board (Toll VA III LP), (Series 1999) Weekly VRDNs, (Truist Bank LOC), 1.980%, 12/1/2022 | 1,610,000 | |
Washington— 0.0% | |||
1,260,000 | Washington State Economic Development Finance Authority (Mesa Dairy, LLC), (Series 2007E) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 2.000%, 12/1/2022 | 1,260,000 | |
Wisconsin— 3.8% | |||
15,985,000 | Public Finance Authority, WI (Agape Meadowcreek, Inc.), Tender Option Bond Trust Floater Certificates (Series 2022-XF3026) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 15,985,000 | |
1,415,000 | 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), 2.100%, 12/1/2022 | 1,415,000 | |
2,050,000 | 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), 2.100%, 12/1/2022 | 2,050,000 | |
685,000 | West Bend, WI IDA (Jackson Concrete, Inc.), (Series 2006) Weekly VRDNs, (U.S. Bank, N.A. LOC), 2.210%, 12/1/2022 | 685,000 | |
2,265,000 | Wisconsin State Public Finance Authority (Birchwood Properties LP), (Series 2016) Weekly VRDNs, (FHLB of Des Moines LOC), 2.120%, 12/1/2022 | 2,265,000 | |
57,500,000 | Wisconsin State Public Finance Authority (Waste Management, Inc.), (Series A-2) TOBs, 4.000%, Mandatory Tender 2/1/2023 | 57,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Wisconsin— continued | |||
$ 30,000,000 | Wisconsin State Public Finance Authority (Waste Management, Inc.), (Series A-3) TOBs, (GTD by Waste Management Holdings, Inc.), 4.000%, Mandatory Tender 2/1/2023 | $ 30,000,000 | |
TOTAL | 109,900,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.3% (AT AMORTIZED COST)2 | 2,864,285,742 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.3)%3 | (9,219,704) | ||
TOTAL NET ASSETS—100% | $2,855,066,038 |
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 | |
CDA | —Community Development Authority | |
CP | —Commercial Paper | |
CPX | —Commercial Paper Extendible | |
EDA | —Economic Development Authority | |
EDRB | —Economic Development Revenue Bond | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HDA | —Hospital Development Authority | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDRB | —Industrial Development Revenue Bond | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCFA | —Pollution Control Financing Authority | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
TANs | —Tax Anticipation Notes | |
TOBs | —Tender Option Bonds | |
VMTP | —Variable Municipal Term Preferred | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 20182 | 20173 | |||
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 | 0.006 | 0.0004 | 0.0004 | 0.009 | 0.0105 | 0.007 | 0.002 |
Net realized gain (loss) | 0.000 | 0.0004 | 0.0004 | 0.0004 | 0.0004 | 0.0004 | 0.001 |
Total From Investment Operations | 0.006 | 0.0004 | 0.0004 | 0.009 | 0.010 | 0.007 | 0.003 |
Less Distributions: | |||||||
Distributions from net investment income | (0.006) | (0.000)4 | (0.000)4 | (0.009) | (0.010) | (0.007) | (0.002) |
Distributions from net realized gain | — | (0.000)4 | (0.000)4 | (0.000)4 | (0.000)4 | (0.000)4 | (0.001) |
Total Distributions | (0.006) | (0.000)4 | (0.000)4 | (0.009) | (0.010) | (0.007) | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return6 | 0.60% | 0.04% | 0.01% | 0.91% | 0.99% | 0.77% | 0.29% |
Ratios to Average Net Assets: | |||||||
Net expenses7 | 0.56%8 | 0.27% | 0.33% | 0.56% | 0.56%8 | 0.55% | 0.61% |
Net investment income | 0.41%8 | 0.03% | 0.01% | 0.90% | 1.20%8 | 0.81% | 0.23% |
Expense waiver/reimbursement9 | 0.08%8 | 0.38% | 0.32% | 0.09% | 0.09%8 | 0.10% | 0.11% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $4,377 | $700,243 | $683,243 | $818,565 | $636,808 | $48,952 | $010 |
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 | 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. |
10 | Represents less than $1,000. |
Six Months Ended (unaudited) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.005 | 0.0002 | 0.0002 | 0.007 | 0.0083 | 0.005 | 0.001 |
Net realized gain (loss) | 0.000 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 |
Total From Investment Operations | 0.005 | 0.0002 | 0.0002 | 0.007 | 0.008 | 0.005 | 0.002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.005) | (0.000)2 | (0.000)2 | (0.007) | (0.008) | (0.005) | (0.001) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) |
Total Distributions | (0.005) | (0.000)2 | (0.000)2 | (0.007) | (0.008) | (0.005) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.49% | 0.02% | 0.01% | 0.71% | 0.79% | 0.54% | 0.17% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.78%6 | 0.27% | 0.35% | 0.78% | 0.78%6 | 0.78% | 0.76% |
Net investment income | 1.08%6 | 0.01% | 0.01% | 0.77% | 0.95%6 | 0.46% | 0.11% |
Expense waiver/reimbursement7 | 0.12%6 | 0.63% | 0.54% | 0.12% | 0.12%6 | 0.13% | 0.16% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $4,033 | $2,874 | $4,756 | $11,112 | $44,873 | $40,219 | $68,690 |
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 | 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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.008 | 0.001 | 0.001 | 0.012 | 0.0132 | 0.011 | 0.001 |
Net realized gain (loss) | 0.000 | 0.0003 | 0.0003 | 0.001 | 0.0003 | 0.0003 | 0.001 |
Total From Investment Operations | 0.008 | 0.001 | 0.001 | 0.013 | 0.013 | 0.011 | 0.002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.008) | (0.001) | (0.001) | (0.013) | (0.013) | (0.011) | (0.001) |
Distributions from net realized gain | — | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | (0.001) |
Total Distributions | (0.008) | (0.001) | (0.001) | (0.013) | (0.013) | (0.011) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.78% | 0.12% | 0.13% | 1.27% | 1.27% | 1.12% | 0.72% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.21%6 | 0.19% | 0.21% | 0.21% | 0.21%6 | 0.21% | 0.21% |
Net investment income | 1.59%6 | 0.13% | 0.12% | 1.24% | 1.52%6 | 1.10% | 0.64% |
Expense waiver/ reimbursement7 | 0.09%6 | 0.11% | 0.09% | 0.09% | 0.09%6 | 0.10% | 0.11% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $2,160,489 | $1,772,201 | $1,372,803 | $1,510,434 | $1,713,390 | $1,163,568 | $667,169 |
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 | Per share numbers have been calculated using the average shares method. |
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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.007 | 0.001 | 0.0002 | 0.010 | 0.0113 | 0.008 | 0.004 |
Net realized gain (loss) | 0.000 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 |
Total From Investment Operations | 0.007 | 0.001 | 0.0002 | 0.010 | 0.011 | 0.008 | 0.005 |
Less Distributions: | |||||||
Distributions from net investment income | (0.007) | (0.001) | (0.000)2 | (0.010) | (0.011) | (0.008) | (0.004) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.001) |
Total Distributions | (0.007) | (0.001) | (0.000)2 | (0.010) | (0.011) | (0.008) | (0.005) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.65% | 0.05% | 0.02% | 1.01% | 1.06% | 0.87% | 0.47% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.46%6 | 0.25% | 0.34% | 0.46% | 0.46%6 | 0.46% | 0.46% |
Net investment income | 1.31%6 | 0.05% | 0.02% | 0.98% | 1.26%6 | 0.84% | 0.39% |
Expense waiver/ reimbursement7 | 0.09%6 | 0.30% | 0.20% | 0.09% | 0.09%6 | 0.10% | 0.11% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $229,937 | $232,943 | $255,785 | $515,994 | $410,580 | $449,099 | $369,709 |
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 | 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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.004 | 0.0002 | 0.0002 | 0.006 | 0.0073 | 0.004 | 0.0002 |
Net realized gain (loss) | 0.000 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 |
Total From Investment Operations | 0.004 | 0.0002 | 0.0002 | 0.006 | 0.007 | 0.004 | 0.001 |
Less Distributions: | |||||||
Distributions from net investment income | (0.004) | (0.000)2 | (0.000)2 | (0.006) | (0.007) | (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) |
Total Distributions | (0.004) | (0.000)2 | (0.000)2 | (0.006) | (0.007) | (0.004) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.43% | 0.01% | 0.01% | 0.60% | 0.69% | 0.43% | 0.11% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.90%6 | 0.29% | 0.31% | 0.88% | 0.91%6 | 0.90% | 0.82% |
Net investment income | 0.84%6 | 0.01% | 0.01% | 0.60% | 0.83%6 | 0.35% | 0.04% |
Expense waiver/reimbursement7 | 0.10%6 | 0.71% | 0.69% | 0.11% | 0.09%6 | 0.10% | 0.19% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $66,957 | $71,843 | $74,123 | $44,704 | $50,506 | $49,804 | $88,884 |
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 | 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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.004 | 0.0002 | 0.0002 | 0.005 | 0.0063 | 0.003 | 0.0002 |
Net realized gain (loss) | 0.000 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.001 |
Total From Investment Operations | 0.004 | 0.0002 | 0.0002 | 0.005 | 0.006 | 0.003 | 0.001 |
Less Distributions: | |||||||
Distributions from net investment income | (0.004) | (0.000)2 | (0.000)2 | (0.005) | (0.006) | (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 | (0.001) |
Total Distributions | (0.004) | (0.000)2 | (0.000)2 | (0.005) | (0.006) | (0.003) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.38% | 0.01% | 0.01% | 0.49% | 0.59% | 0.31% | 0.07% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 1.00%6 | 0.29% | 0.32% | 0.99% | 1.02%6 | 1.02% | 0.83% |
Net investment income | 0.73%6 | 0.01% | 0.01% | 0.49% | 0.71%6 | 0.30% | 0.01% |
Expense waiver/ reimbursement7 | 0.26%6 | 0.97% | 0.93% | 0.27% | 0.24%6 | 0.24% | 0.45% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $197,862 | $237,579 | $288,115 | $240,445 | $281,674 | $328,142 | $118,975 |
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 | 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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.007 | 0.001 | 0.001 | 0.012 | 0.0122 | 0.010 | 0.006 |
Net realized gain (loss) | 0.000 | 0.0003 | 0.0003 | 0.0003 | 0.0003 | 0.0003 | 0.001 |
Total From Investment Operations | 0.007 | 0.001 | 0.001 | 0.012 | 0.012 | 0.010 | 0.007 |
Less Distributions: | |||||||
Distributions from net investment income | (0.007) | (0.001) | (0.001) | (0.012) | (0.012) | (0.010) | (0.006) |
Distributions from net realized gain | — | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | (0.001) |
Total Distributions | (0.007) | (0.001) | (0.001) | (0.012) | (0.012) | (0.010) | (0.007) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.73% | 0.09% | 0.06% | 1.16% | 1.19% | 1.02% | 0.62% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.31%6 | 0.21% | 0.28% | 0.31% | 0.31%6 | 0.31% | 0.31% |
Net investment income | 1.44%6 | 0.07% | 0.06% | 1.16% | 1.41%6 | 1.01% | 0.57% |
Expense waiver/ reimbursement7 | 0.09%6 | 0.19% | 0.12% | 0.09% | 0.09%6 | 0.10% | 0.11% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $191,411 | $195,389 | $289,938 | $359,491 | $409,796 | $635,782 | $255,216 |
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 | Per share numbers have been calculated using the average shares method. |
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. |
November 30, 2022 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $2,864,285,742 |
Cash | 3,437,510 |
Income receivable | 9,356,449 |
Receivable for investments sold | 24,887,771 |
Receivable for shares sold | 2,390,397 |
Total Assets | 2,904,357,869 |
Liabilities: | |
Payable for investments purchased | 38,979,829 |
Payable for shares redeemed | 9,584,928 |
Income distribution payable | 340,977 |
Payable for investment adviser fee (Note 4) | 8,643 |
Payable for administrative fee (Note 4) | 6,130 |
Payable for Directors’/Trustees’ fees (Note 4) | 109 |
Payable for distribution services fee (Note 4) | 102,464 |
Payable for other service fees (Notes 2 and 4) | 141,905 |
Accrued expenses (Note 4) | 126,846 |
Total Liabilities | 49,291,831 |
Net assets for 2,855,015,691 shares outstanding | $2,855,066,038 |
Net Assets Consist of: | |
Paid-in capital | $2,854,995,379 |
Total distributable earnings (loss) | 70,659 |
Total Net Assets | $2,855,066,038 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$4,377,023 ÷ 4,376,946 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Shares: | |
$4,033,458 ÷ 4,033,387 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$2,160,488,978 ÷ 2,160,450,864 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$229,936,916 ÷ 229,932,861 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$66,957,074 ÷ 66,955,894 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$197,861,570 ÷ 197,858,088 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$191,411,019 ÷ 191,407,651 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2022 (unaudited)
Investment Income: | |
Interest | $24,917,552 |
Expenses: | |
Investment adviser fee (Note 4) | 2,862,503 |
Administrative fee (Note 4) | 1,122,899 |
Custodian fees | 42,753 |
Transfer agent fees (Note 2) | 252,665 |
Directors’/Trustees’ fees (Note 4) | 8,989 |
Auditing fees | 11,851 |
Legal fees | 4,229 |
Portfolio accounting fees | 125,779 |
Distribution services fee (Note 4) | 796,503 |
Other service fees (Notes 2 and 4) | 968,434 |
Share registration costs | 93,967 |
Printing and postage | 21,216 |
Miscellaneous (Note 4) | 10,609 |
TOTAL EXPENSES | 6,322,397 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 4) | (1,253,460) |
Waivers/reimbursements of other operating expenses (Notes 2 and 4) | (191,814) |
TOTAL WAIVERS AND REIMBURSEMENTS | (1,445,274) |
Net expenses | 4,877,123 |
Net investment income | 20,040,429 |
Change in net assets resulting from operations | $20,040,429 |
Six Months Ended (unaudited) 11/30/2022 | Year Ended 5/31/2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $20,040,429 | $2,176,337 |
Net realized gain (loss) | — | 69,113 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 20,040,429 | 2,245,450 |
Distributions to Shareholders: | ||
Automated Shares | (335,661) | (242,884) |
Investment Shares | (13,904) | (720) |
Wealth Shares | (15,614,472) | (1,667,616) |
Service Shares | (1,536,629) | (127,174) |
Cash II Shares | (296,764) | (9,913) |
Cash Series Shares | (810,926) | (37,090) |
Capital Shares | (1,431,863) | (177,141) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (20,040,219) | (2,262,538) |
Share Transactions: | ||
Proceeds from sale of shares | 3,378,335,781 | 3,952,421,143 |
Net asset value of shares issued to shareholders in payment of distributions declared | 18,470,106 | 2,064,912 |
Cost of shares redeemed | (3,754,811,666) | (3,710,160,577) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (358,005,779) | 244,325,478 |
Change in net assets | (358,005,569) | 244,308,390 |
Net Assets: | ||
Beginning of period | 3,213,071,607 | 2,968,763,217 |
End of period | $2,855,066,038 | $3,213,071,607 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Automated Shares | $83,188 | $— |
Investment Shares | 1,290 | — |
Wealth Shares | 17,182 | — |
Service Shares | 2,040 | — |
Cash II Shares | 33,748 | — |
Cash Series Shares | 113,512 | (33,486) |
Capital Shares | 1,705 | (2) |
TOTAL | $252,665 | $(33,488) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $205,465 | $— | $— |
Investment Shares | 3,210 | — | (1) |
Service Shares | 293,252 | — | — |
Cash II Shares | 88,226 | (504) | (2,373) |
Cash Series Shares | 279,044 | (5,040) | (27,207) |
Capital Shares | 99,237 | — | — |
TOTAL | $968,434 | $(5,544) | $(29,581) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Automated Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 32,311 | $32,311 | 371,576 | $371,576 |
Shares issued to shareholders in payment of distributions declared | 335 | 335 | 243 | 243 |
Shares redeemed | (728,501) | (728,501) | (354,815) | (354,815) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (695,855) | $(695,855) | 17,004 | $17,004 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Investment Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 5,051 | $5,051 | 6,695 | $6,695 |
Shares issued to shareholders in payment of distributions declared | 14 | 14 | 1 | 1 |
Shares redeemed | (3,905) | (3,905) | (8,579) | (8,579) |
NET CHANGE RESULTING FROM INVESTMENT SHARE TRANSACTIONS | 1,160 | $1,160 | (1,883) | $(1,883) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 2,649,014 | $2,649,014 | 2,302,899 | $2,302,899 |
Shares issued to shareholders in payment of distributions declared | 14,373 | 14,373 | 1,492 | 1,492 |
Shares redeemed | (2,275,110) | (2,275,110) | (1,904,990) | (1,904,990) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 388,277 | $388,277 | 399,401 | $399,401 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 290,134 | $290,134 | 583,932 | $583,932 |
Shares issued to shareholders in payment of distributions declared | 1,236 | 1,236 | 106 | 106 |
Shares redeemed | (294,376) | (294,376) | (606,878) | (606,878) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (3,006) | $(3,006) | (22,840) | $(22,840) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Cash II Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 26,082 | $26,082 | 30,387 | $30,387 |
Shares issued to shareholders in payment of distributions declared | 293 | 293 | 10 | 10 |
Shares redeemed | (31,262) | (31,262) | (32,676) | (32,676) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (4,887) | $(4,887) | (2,279) | $(2,279) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Cash Series Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 210,138 | $210,138 | 483,411 | $483,411 |
Shares issued to shareholders in payment of distributions declared | 800 | 800 | 37 | 37 |
Shares redeemed | (250,655) | (250,655) | (533,981) | (533,981) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (39,717) | $(39,717) | (50,533) | $(50,533) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Capital Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 165,606 | $165,606 | 173,522 | $173,522 |
Shares issued to shareholders in payment of distributions declared | 1,419 | 1,419 | 177 | 177 |
Shares redeemed | (171,003) | (171,003) | (268,244) | (268,244) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (3,978) | $(3,978) | (94,545) | $(94,545) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (358,006) | $(358,006) | 244,325 | $244,325 |
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 | $3,210 | $(385) |
Cash II Shares | 123,588 | — |
Cash Series Shares | 669,705 | (122,816) |
TOTAL | $796,503 | $(123,201) |
Beginning Account Value 6/1/2022 | Ending Account Value 11/30/2022 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,006.00 | $2.82 |
Investment Shares | $1,000 | $1,004.90 | $3.92 |
Wealth Shares | $1,000 | $1,007.80 | $1.06 |
Service Shares | $1,000 | $1,006.50 | $2.31 |
Cash II Shares | $1,000 | $1,004.30 | $4.52 |
Cash Series Shares | $1,000 | $1,003.80 | $5.02 |
Capital Shares | $1,000 | $1,007.30 | $1.56 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,022.26 | $2.84 |
Investment Shares | $1,000 | $1,021.16 | $3.95 |
Wealth Shares | $1,000 | $1,024.02 | $1.07 |
Service Shares | $1,000 | $1,022.76 | $2.33 |
Cash II Shares | $1,000 | $1,020.56 | $4.56 |
Cash Series Shares | $1,000 | $1,020.05 | $5.06 |
Capital Shares | $1,000 | $1,023.51 | $1.57 |
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 | 0.56% |
Investment Shares | 0.78% |
Wealth Shares | 0.21% |
Service Shares | 0.46% |
Cash II Shares | 0.90% |
Cash Series Shares | 1.00% |
Capital Shares | 0.31% |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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
Share Class | Ticker | Wealth | MOFXX |
Federated Hermes Municipal Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 76.0% |
Municipal Notes | 18.0% |
Commercial Paper | 6.3% |
Other Assets and Liabilities—Net2 | (0.3)% |
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 | 62.1% |
8-30 Days | 3.3% |
31-90 Days | 24.9% |
91-180 Days | 2.8% |
181 Days or more | 7.2% |
Other Assets and Liabilities—Net2 | (0.3)% |
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— 100.3% | ||
Alabama— 1.9% | |||
$ 9,275,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2007) Weekly VRDNs, (Comerica Bank LOC), 2.000%, 12/1/2022 | $ 9,275,000 | |
10,000,000 | Millport, AL IDA (Steel Dust Recycling, LLC), (Series 2011) Weekly VRDNs, (Comerica Bank LOC), 2.000%, 12/1/2022 | 10,000,000 | |
33,700,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 2.020%, 12/7/2022 | 33,700,000 | |
TOTAL | 52,975,000 | ||
Alaska— 1.1% | |||
32,000,000 | Valdez, AK Marine Terminal (Phillips Transportation Alaska, Inc.), (Series 1994A) Weekly VRDNs, (ConocoPhillips GTD), 1.900%, 12/7/2022 | 32,000,000 | |
Arizona— 1.3% | |||
32,500,000 | Arizona State IDA (Vaseo Apartments LP), Mizuho 3a-7 (2021-MIZ9088) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 32,500,000 | |
5,610,000 | Maricopa County, AZ, IDA (Redman Homes, Inc.), (Series 1999) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 2.060%, 12/1/2022 | 5,610,000 | |
TOTAL | 38,110,000 | ||
Arkansas— 0.5% | |||
13,500,000 | Blytheville, AR (Nucor Corp.), (Series 2002) Weekly VRDNs, 2.050%, 12/7/2022 | 13,500,000 | |
California— 18.4% | |||
3,000,000 | California Educational Facilities Authority (Stanford University), (Series S-4), CP, 1.750%, Mandatory Tender 12/6/2022 | 3,000,000 | |
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), 2.050%, 12/1/2022 | 20,000,000 | |
31,205,000 | California Health Facilities Financing Authority (Kaiser Permanente), (Series 2006E), CP, 1.950%, Mandatory Tender 12/15/2022 | 31,205,000 | |
2,356,000 | California HFA (Hope on Broadway LP), Tender Option Bond Trust Receipts (Series 2022-XF3018) Weekly VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 2.100%, 12/1/2022 | 2,356,000 | |
4,500,000 | California Municipal Finance Authority (Brawley Pacific Associates III), Tender Option Bond Trust Receipts (Series 2022-XF3027) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 4,500,000 | |
30,500,000 | California Municipal Finance Authority (Waste Management, Inc.), (Series 2020) TOBs, (Waste Management Holdings, Inc. GTD), 2.950%, Mandatory Tender 12/1/2022 | 30,500,000 | |
2,000,000 | California PCFA (C.A. and E.J. Vanderham Family Trust), (Series 2003) Weekly VRDNs, (CoBank, ACB LOC), 2.000%, 12/1/2022 | 2,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 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), 2.000%, 12/1/2022 | $ 3,000,000 | |
2,940,000 | California PCFA (T & W Farms), (Series 2002) Weekly VRDNs, (Bank of America N.A. LOC), 2.000%, 12/1/2022 | 2,940,000 | |
5,154,000 | California Statewide Communities Development Authority (Essex Monarch La Brea Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9012) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 5,154,000 | |
22,184,000 | California Statewide Communities Development Authority (Essex Monarch Santa Monica Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9011) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 22,184,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 2.020%, Mandatory Tender 12/14/2022 | 10,000,000 | |
9,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 2.000%, Mandatory Tender 12/13/2022 | 9,000,000 | |
17,190,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 3.100%, Mandatory Tender 3/2/2023 | 17,190,000 | |
12,500,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-1), CP, 1.900%, Mandatory Tender 12/7/2022 | 12,500,000 | |
12,500,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-4), CP, 3.130%, Mandatory Tender 1/11/2023 | 12,500,000 | |
7,300,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: One Uptown Newport Apartments) Weekly VRDNs, (FHLB of Des Moines LOC), 1.940%, 12/1/2022 | 7,300,000 | |
4,842,000 | Los Angeles County, CA (Hope on Broadway LP), Tender Option Bond Trust Receipts (2022-XF3019) Weekly VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 2.100%, 12/1/2022 | 4,842,000 | |
86,050,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Hollywood & Vine, LP), Mizuho 3a-7 (Series 2022-MIZ9089) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 86,050,000 | |
42,415,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Wilshire Vermont, LP), Mizuho 3a-7 (Series 2022-MIZ9090) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 42,415,000 | |
75,000,000 | Nuveen California Quality Municipal Income Fund, RIB Floater Trust (Series 2022-FR-RI-005) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.230%, 12/1/2022 | 75,000,000 | |
45,000,000 | 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 2022-MIZ9110) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 45,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 2,770,000 | Sacramento County, CA HDA (Shiloh Arms Partners LP), Mizuho 3a-7 (2022-MIZ9093) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | $ 2,770,000 | |
30,000,000 | San Francisco, CA City and County (Block 9 MRU Residential LLC), Mizuho 3a-7 (Series 2022-MIZ9100) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 30,000,000 | |
43,230,000 | 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), 2.150%, 12/1/2022 | 43,230,000 | |
TOTAL | 524,636,000 | ||
Colorado— 0.4% | |||
4,615,000 | Colorado HFA (Acme Manufacturing Company, Inc.), (Series 2016A) Weekly VRDNs, (UMB Bank, N.A. LOC), 2.090%, 12/1/2022 | 4,615,000 | |
1,275,000 | Colorado HFA (Class I Bonds) (Xybix Systems, Inc.), (Series 2007) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 2.070%, 12/1/2022 | 1,275,000 | |
1,230,000 | Colorado HFA (Popiel Properties LLC), (Series 2004A) Weekly VRDNs, (UMB Bank, N.A. LOC), 2.160%, 12/1/2022 | 1,230,000 | |
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), 2.150%, Optional Tender 12/1/2022 | 3,000,000 | |
TOTAL | 10,120,000 | ||
Connecticut— 0.5% | |||
4,145,000 | Connecticut State Special Transportation Fund, RBC Muni Products (Series G-110) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.080%, Optional Tender 4/3/2023 | 4,145,000 | |
10,060,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 10,060,000 | |
TOTAL | 14,205,000 | ||
Florida— 4.1% | |||
2,100,000 | Capital Trust Agency, FL (Milestones Community School, Inc.), Tender Option Bond Trust Receipts (2022-XF2965) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 2,100,000 | |
14,000,000 | Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), (Series A) TOBs, (GTD by United States Treasury), 2.900%, Mandatory Tender 4/4/2023 | 14,000,000 | |
4,280,000 | 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), 2.100%, 12/1/2022 | 4,280,000 | |
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), 2.150%, Optional Tender 4/3/2023 | 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), 2.100%, Optional Tender 3/1/2023 | 5,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— continued | |||
$ 20,500,000 | Liberty County, FL (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 2.050%, 12/1/2022 | $ 20,500,000 | |
11,830,000 | Miami-Dade County, FL (County of Miami-Dade Seaport Department), Tender Option Bond Trust Certificates (2022-XF2988) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.040%, 12/1/2022 | 11,830,000 | |
7,490,000 | Miami-Dade County, FL HFA (Cordoba FL TC, LP), Mizuho 3a-7 (2021-MIZ9072) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 7,490,000 | |
4,630,000 | Miami-Dade County, FL HFA (Superior Manor Phase II LLC), Mizuho 3a-7 (2022-MIZ9087) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 4,630,000 | |
37,280,000 | Miami-Dade County, FL School District, (Series 2022) TANs, 4.000%, 2/23/2023 | 37,380,046 | |
TOTAL | 116,210,046 | ||
Georgia— 6.1% | |||
4,200,000 | Appling County, GA Development Authority (Georgia Power Co.), (1st Series 1997) Daily VRDNs, 1.700%, 12/1/2022 | 4,200,000 | |
28,000,000 | Appling County, GA Development Authority (Georgia Power Co.), (First Series 2011) Daily VRDNs, 1.700%, 12/1/2022 | 28,000,000 | |
9,750,000 | Atlanta, GA, Urban Residential Finance Authority (Columbia at Sylvan Hills Apartments), (Series 2006) Weekly VRDNs, (FNMA LOC), 2.040%, 12/1/2022 | 9,750,000 | |
6,900,000 | Burke County, GA Development Authority (Georgia Power Co.), (Series 2008) Daily VRDNs, 1.700%, 12/1/2022 | 6,900,000 | |
8,815,000 | Columbus, GA Development Authority (Avalon Apartments LP), (Series 2008) Weekly VRDNs, (FNMA LOC), 2.040%, 12/1/2022 | 8,815,000 | |
10,000,000 | Columbus, GA Development Authority (Lumpkin Park Partners, Ltd.), (Series 2008) Weekly VRDNs, (FHLMC LOC), 2.040%, 12/1/2022 | 10,000,000 | |
13,870,000 | Effingham County, GA Development Authority (Georgia Power Co.), (Series 2003) Daily VRDNs, 1.710%, 12/1/2022 | 13,870,000 | |
360,000 | Fitzgerald & Ben Hill County, GA Development Authority (Agri-Products, Inc.), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 2.000%, 12/1/2022 | 360,000 | |
3,700,000 | Floyd County, GA Development Authority PCRB (Georgia Power Co.), (First Series 1996) Daily VRDNs, 1.700%, 12/1/2022 | 3,700,000 | |
2,000,000 | Heard County, GA Development Authority (Georgia Power Co.), (First Series 1996) Daily VRDNs, 1.710%, 12/1/2022 | 2,000,000 | |
9,300,000 | Monroe County, GA Development Authority Pollution Control (Georgia Power Co.), (First Series 1997) Daily VRDNs, 1.700%, 12/1/2022 | 9,300,000 | |
1,775,000 | Savannah, GA EDA (Consolidated Utilities, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 2.030%, 12/1/2022 | 1,775,000 | |
72,250,000 | Savannah, GA EDA (Home Depot, Inc.), (Series 1995A) Weekly VRDNs, 1.940%, 12/7/2022 | 72,250,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Georgia— continued | |||
$ 1,960,000 | Wayne County, GA, IDA (Sierra International Machinery LLC), (Series 2011) Weekly VRDNs, (Truist Bank LOC), 2.030%, 12/1/2022 | $ 1,960,000 | |
TOTAL | 172,880,000 | ||
Hawaii— 0.2% | |||
6,110,000 | Hawaii State Department of Budget & Finance (Queen’s Health Systems), (2015 Series C) VRENs, 2.350%, 12/1/2022 | 6,110,000 | |
Idaho— 0.5% | |||
13,690,000 | American Falls, ID Reservoir District (Idaho Power Co.), (Series 2000) Weekly VRDNs, 2.400%, 12/7/2022 | 13,690,000 | |
Illinois— 0.6% | |||
17,891,398 | 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), 2.200%, Optional Tender 12/15/2022 | 17,891,398 | |
Indiana— 2.2% | |||
6,000,000 | Bloomington, IN EDRB (SY Henderson Court Investors, LP), (Series 2008: Henderson Court Apartments) Weekly VRDNs, (FHLMC LOC), 2.040%, 12/1/2022 | 6,000,000 | |
14,250,000 | Indiana Development Finance Authority (Duke Energy Indiana, Inc.), (Series 2003B) Weekly VRDNs, 2.030%, 12/7/2022 | 14,250,000 | |
200,000 | 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), 2.050%, 12/1/2022 | 200,000 | |
25,000,000 | Indiana State Finance Authority (Trinity Healthcare Credit Group), (Series 2008 D-2), CP, 2.000%, Mandatory Tender 1/4/2023 | 25,000,000 | |
17,000,000 | Indiana State Finance Authority Environmental (Fulcrum Centerpoint, LLC), (Series 2022) TOBs, (United States Treasury GTD), 4.550%, Mandatory Tender 11/15/2023 | 17,000,000 | |
TOTAL | 62,450,000 | ||
Iowa— 0.2% | |||
5,300,000 | Iowa Finance Authority (Five Star Holdings LLC), (Series 2007) Weekly VRDNs, (AgriBank FCB LOC), 2.000%, 12/1/2022 | 5,300,000 | |
Kansas— 0.9% | |||
4,900,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007A) Weekly VRDNs, 2.150%, 12/7/2022 | 4,900,000 | |
21,000,000 | Burlington, KS (Kansas City Power And Light Co.), (Series 2007B) Weekly VRDNs, 2.150%, 12/7/2022 | 21,000,000 | |
TOTAL | 25,900,000 | ||
Kentucky— 1.2% | |||
3,435,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Mandatory Tender 5/1/2023 | 3,435,000 | |
11,350,000 | Louisville & Jefferson County, KY Metropolitan Government (Louisville Gas & Electric Co.), (Series A) Weekly VRDNs, 1.980%, 12/2/2022 | 11,350,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Kentucky— continued | |||
$ 18,270,000 | Meade County, KY Industrial Building Revenue Authority (Nucor Corp.), (Series 2021B-1) Daily VRDNs, 1.800%, 12/1/2022 | $ 18,270,000 | |
TOTAL | 33,055,000 | ||
Louisiana— 3.6% | |||
9,785,000 | Calcasieu Parish, LA Public Trust Authority (WPT Corp.), (Series 1997) Weekly VRDNs, (Bank of America N.A. LOC), 2.350%, 12/7/2022 | 9,785,000 | |
14,200,000 | East Baton Rouge Parish, LA IDB (Georgia-Pacific LLC), Solid Waste Disposal Revenue Bonds (Series 2004) Weekly VRDNs, 2.000%, 12/7/2022 | 14,200,000 | |
11,000,000 | Louisiana Local Government Environmental Facilities CDA (American Biocarbon, CT LLC) TOBs, (GTD by United States Treasury), 3.850%, Mandatory Tender 8/1/2023 | 11,000,000 | |
18,000,000 | Louisiana Local Government Environmental Facilities CDA (American Biocarbon, CT LLC), (Series 2021) TOBs, (GTD by United States Treasury), 2.125%, Mandatory Tender 12/1/2022 | 18,000,000 | |
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), 2.150%, 12/1/2022 | 3,790,000 | |
18,500,000 | St. James Parish, LA (Nucor Steel Louisiana LLC), (Series 2010A-1) Weekly VRDNs, (GTD by Nucor Corp.), 2.230%, 12/7/2022 | 18,500,000 | |
27,400,000 | St. James Parish, LA (Nucor Steel Louisiana LLC), (Series 2010B-1) Weekly VRDNs, (GTD by Nucor Corp.), 2.300%, 12/7/2022 | 27,400,000 | |
TOTAL | 102,675,000 | ||
Maine— 0.8% | |||
22,260,000 | Old Town, ME (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 2.100%, 12/7/2022 | 22,260,000 | |
Maryland— 1.7% | |||
5,020,000 | Baltimore County, MD (Oak Crest Village Inc.), 3a-7 Credit Enhanced Trust (Series 2022-032) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.100%, 12/1/2022 | 5,020,000 | |
5,000,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 5,000,000 | |
22,000,000 | Maryland Health and Higher Educational Facilities Authority (Integrace Obligated Group), 3a-7 Credit Enhanced Trust (Series 2022-024) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.100%, 12/1/2022 | 22,000,000 | |
15,910,000 | Montgomery County, MD (Trinity Healthcare Credit Group), (Series 2013MD) TOBs, 2.580%, Mandatory Tender 3/1/2023 | 15,910,000 | |
TOTAL | 47,930,000 | ||
Massachusetts— 1.3% | |||
27,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 2.850%, Mandatory Tender 1/11/2023 | 27,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Massachusetts— continued | |||
$ 10,000,000 | Massachusetts Development Finance Agency (Nantucket Electric Co.), (Series 2004), CP, (GTD by Massachusetts Electric Co.), 2.950%, Mandatory Tender 12/2/2022 | $ 10,000,000 | |
TOTAL | 37,000,000 | ||
Michigan— 0.2% | |||
5,250,000 | Michigan Strategic Fund (Greenville Venture Partners LLC), (Series 2018) Weekly VRDNs, (CoBank, ACB LOC), 2.000%, 12/1/2022 | 5,250,000 | |
Minnesota— 0.9% | |||
25,600,000 | Roseville, MN, Tender Option Bond Trust Receipts (Series 2022-XF3034) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 25,600,000 | |
Mississippi— 0.2% | |||
5,865,000 | Mississippi Home Corp, Mizuho 3a-7 (Series 2022-XF3022) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 5,865,000 | |
Missouri— 1.3% | |||
30,000,000 | 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), 2.040%, 12/1/2022 | 30,000,000 | |
3,755,000 | Kansas City, MO Planned Industrial Expansion Authority (EPD3 Ridgeview LP), Mizuho 3a-7 (2022-MIZ9086) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 3,755,000 | |
2,500,000 | Lees Summit, MO IDA (EPD3 Ashbrooke LP), (Series 2020 MIZ9055) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,500,000 | |
TOTAL | 36,255,000 | ||
Montana— 0.2% | |||
3,510,000 | 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), 2.150%, 12/1/2022 | 3,510,000 | |
3,320,000 | 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), 2.150%, 12/1/2022 | 3,320,000 | |
TOTAL | 6,830,000 | ||
Multi-State— 11.9% | |||
63,500,000 | Invesco Municipal Opportunity Trust, PUTTERs 3a-7 (VMTP 5029) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | 63,500,000 | |
97,400,000 | Invesco Value Municipal Income Trust, PUTTERs 3a-7 (VMTP 5027) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | 97,400,000 | |
130,100,000 | Nuveen Municipal Credit Income Fund, PUTTERs 3a-7 (Series 5039) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | 130,100,000 | |
37,700,000 | Nuveen Municipal Credit Opportunities Fund, (Series A) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ), 2.000%, 12/1/2022 | 37,700,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Multi-State— continued | |||
$ 11,875,000 | Nuveen Municipal Credit Opportunities Fund, PUTTERs 3a-7 (Series 5033) (VMFP Series C) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.080%, 12/1/2022 | $ 11,875,000 | |
TOTAL | 340,575,000 | ||
Nebraska— 0.3% | |||
7,500,000 | Stanton County, NE (Nucor Corp.), (Series 1996) Weekly VRDNs, 2.250%, 12/7/2022 | 7,500,000 | |
1,875,000 | Stanton County, NE (Nucor Corp.), (Series 1998) Weekly VRDNs, 2.250%, 12/7/2022 | 1,875,000 | |
TOTAL | 9,375,000 | ||
Nevada— 0.4% | |||
1,275,000 | Director of the State of Nevada Department of Business and Industry (575 Mill Street LLC), IDRB (Series 1998A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 2.110%, 12/1/2022 | 1,275,000 | |
11,500,000 | Nevada Housing Division (DWF V Summit Club Holdings LLC), Mizuho 3a-7 (2021-MIZ9091) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 11,500,000 | |
TOTAL | 12,775,000 | ||
New Jersey— 7.7% | |||
3,903,700 | Aberdeen Township, NJ BANs, 1.250%, 12/29/2022 | 3,906,084 | |
6,641,725 | Butler Borough, NJ BANs, 3.750%, 9/8/2023 | 6,683,960 | |
5,807,835 | Clementon, NJ, (Series A) BANs, 4.250%, 9/28/2023 | 5,851,875 | |
5,915,500 | Delran Township, NJ BANs, 4.250%, 9/5/2023 | 5,939,103 | |
14,770,000 | Freehold Borough, NJ BANs, 4.000%, 8/3/2023 | 14,875,883 | |
4,000,000 | Garwood, NJ BANs, 5.000%, 8/3/2023 | 4,024,284 | |
5,373,950 | Hammonton, NJ BANs, 5.000%, 10/26/2023 | 5,404,113 | |
2,436,000 | Haworth Borough, NJ BANs, 4.500%, 7/14/2023 | 2,443,776 | |
7,505,061 | Highlands, NJ BANs, 4.250%, 7/7/2023 | 7,555,040 | |
1,800,000 | Hillsdale Borough, NJ BANs, 1.000%, 12/2/2022 | 1,800,029 | |
2,561,000 | Hillsdale Borough, NJ BANs, 4.500%, 8/24/2023 | 2,572,781 | |
6,845,000 | Middle Township, NJ BANs, 3.750%, 9/7/2023 | 6,887,323 | |
4,023,775 | Mount Olive Township, NJ BANs, 1.250%, 12/15/2022 | 4,025,081 | |
5,968,000 | Mountainside, NJ BANs, 5.000%, 7/20/2023 | 6,001,046 | |
13,600,000 | New Brunswick, NJ BANs, 3.750%, 9/18/2023 | 13,689,481 | |
6,850,000 | New Jersey EDA (Yeshiva of North Jersey), (Series 2018) Weekly VRDNs, (Valley National Bank LOC), 2.200%, 12/1/2022 | 6,850,000 | |
3,380,000 | New Jersey EDA (Baptist Home Society of New Jersey) Weekly VRDNs, (Valley National Bank LOC), 2.200%, 12/1/2022 | 3,380,000 | |
11,255,000 | New Jersey EDA (Jewish Community Center on the Palisades), (Series 2016) Weekly VRDNs, (Valley National Bank LOC), 2.200%, 12/2/2022 | 11,255,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 1,285,000 | New Jersey EDA (Temple Emanuel of the Pascack Valley), (Series 2001/2019) Weekly VRDNs, (U.S. Bank, N.A. LOC), 2.150%, 12/2/2022 | $ 1,285,000 | |
4,160,000 | New Jersey Health Care Facilities Financing Authority (Christian Health Care Center), (Series A-2) Weekly VRDNs, (Valley National Bank LOC), 2.100%, 12/1/2022 | 4,160,000 | |
9,065,000 | New Jersey State EDA (Jewish Community Housing Corporation of Metropolitan New Jersey), (Series 2010) Weekly VRDNs, (Valley National Bank LOC), 2.020%, 12/1/2022 | 9,065,000 | |
6,716,000 | Park Ridge Borough, NJ BANs, 3.250%, 4/28/2023 | 6,742,624 | |
6,500,000 | Pemberton Township, NJ, (Series 2022) BANs, 4.000%, 5/31/2023 | 6,531,352 | |
6,200,000 | Ramsey, NJ BANs, 1.250%, 1/6/2023 | 6,204,869 | |
3,496,000 | Rochelle Park Township, NJ BANs, 4.500%, 8/9/2023 | 3,508,388 | |
4,041,000 | Saddle River, NJ BANs, 5.500%, 6/7/2023 | 4,071,451 | |
6,585,000 | Somers Point, NJ BANs, 1.250%, 12/20/2022 | 6,587,901 | |
2,345,000 | South Hackensack, NJ BANs, 1.250%, 12/15/2022 | 2,345,761 | |
6,136,000 | South River, NJ, (Series B) BANs, 1.250%, 12/16/2022 | 6,138,133 | |
3,588,154 | Springfield Township, NJ BANs, 1.250%, 12/8/2022 | 3,588,736 | |
3,544,300 | Springfield Township, NJ BANs, 4.250%, 9/7/2023 | 3,557,945 | |
25,000,000 | Stone Harbor, NJ BANs, 5.000%, 10/13/2023 | 25,155,613 | |
6,346,649 | Union Beach, NJ BANs, 5.000%, 7/25/2023 | 6,386,572 | |
3,807,000 | Winslow Township, NJ BANs, 3.750%, 9/14/2023 | 3,831,704 | |
8,068,496 | Woolwich, NJ BANs, 3.750%, 5/30/2023 | 8,115,429 | |
TOTAL | 220,421,337 | ||
New York— 4.8% | |||
3,846,510 | Alden Village, NY BANs, 3.750%, 9/7/2023 | 3,869,411 | |
2,000,000 | Hannibal, NY Central School District BANs, 4.250%, 6/28/2023 | 2,013,330 | |
5,590,000 | Hempstead (town), NY IDA MFH (Hempstead Village Housing Associates LP), (Series 2006) Weekly VRDNs, (FNMA LOC), 2.010%, 12/1/2022 | 5,590,000 | |
5,904,000 | Lowville, NY, (Series A) BANs, 3.250%, 8/24/2023 | 5,912,025 | |
8,000,000 | Massena, NY Central School District BANs, 4.000%, 6/29/2023 | 8,044,647 | |
3,670,000 | New Rochelle, NY IDA (180 Union Avenue Owner LP), (Series 2006: West End Phase I Facility) Weekly VRDNs, (Citibank N.A., New York LOC), 2.010%, 12/1/2022 | 3,670,000 | |
15,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 15,000,000 | |
72,800,000 | New York State HFA (42nd and 10th Street Associates LLC), 3a-7 High Grade Trust (Series 2022-007) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.300%, 12/1/2022 | 72,800,000 | |
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), 2.280%, 12/1/2022 | 10,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 6,700,000 | Penn-Yan, NY Central School District BANs, 4.250%, 6/28/2023 | $ 6,744,656 | |
1,554,371 | Walton, NY Central School District BANs, 4.000%, 6/28/2023 | 1,562,132 | |
2,500,000 | Watervliet, NY City School District BANs, 3.250%, 4/26/2023 | 2,510,760 | |
TOTAL | 137,716,961 | ||
North Carolina— 0.2% | |||
3,000,000 | Hertford County, NC Industrial Facilities & PCFA (Nucor Corp.), (Series 2000A) Weekly VRDNs, 2.050%, 12/7/2022 | 3,000,000 | |
3,000,000 | Yancey County, NC Industrial Facilities & PCFA (Altec Industries, Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 2.030%, 12/1/2022 | 3,000,000 | |
TOTAL | 6,000,000 | ||
Ohio— 1.6% | |||
30,470,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 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), 2.050%, 12/1/2022 | 8,100,000 | |
7,000,000 | Toledo-Lucas County, OH Port Authority (Van Deurzen Dairy LLC), (Series 2006) Weekly VRDNs, (AgriBank FCB LOC), 2.000%, 12/1/2022 | 7,000,000 | |
TOTAL | 45,570,000 | ||
Oklahoma— 3.0% | |||
14,850,000 | Garfield County, OK Industrial Authority Pollution Control (Oklahoma Gas and Electric Co.), (Series 1995-A) Weekly VRDNs, 2.080%, 12/7/2022 | 14,850,000 | |
30,400,000 | Muskogee, OK Industrial Trust (Oklahoma Gas and Electric Co.), (1995 Series A) Weekly VRDNs, 2.000%, 12/7/2022 | 30,400,000 | |
40,450,000 | Muskogee, OK Industrial Trust (Oklahoma Gas and Electric Co.), (Series 1997A) Weekly VRDNs, 2.080%, 12/7/2022 | 40,450,000 | |
TOTAL | 85,700,000 | ||
Oregon— 0.1% | |||
4,360,000 | Port of Morrow, OR Pollution Control (Idaho Power Co.), (Series 2000) Weekly VRDNs, 2.400%, 12/7/2022 | 4,360,000 | |
Pennsylvania— 0.1% | |||
480,000 | East Hempfield Township, PA IDA (BGT Realty), (Series of 2005) Weekly VRDNs, (Fulton Bank, N.A. LOC), 2.200%, 12/1/2022 | 480,000 | |
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), 2.150%, 12/1/2022 | 2,000,000 | |
TOTAL | 2,480,000 | ||
South Carolina— 1.1% | |||
21,500,000 | Berkeley County, SC IDB (Nucor Corp.) Weekly VRDNs, 2.250%, 12/7/2022 | 21,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
South Carolina— continued | |||
$ 10,100,000 | Berkeley County, SC IDB (Nucor Corp.), (Series 1997) Weekly VRDNs, 2.250%, 12/7/2022 | $ 10,100,000 | |
TOTAL | 31,600,000 | ||
South Dakota— 0.1% | |||
3,000,000 | South Dakota Value Added Finance Authority (Prairie Gold Dairy LLC), (Series 2004) Weekly VRDNs, (CoBank, ACB LOC), 2.000%, 12/1/2022 | 3,000,000 | |
Tennessee— 1.8% | |||
5,500,000 | Covington, TN IDB (Charms Co.), (Series 1992) Weekly VRDNs, (Bank of America N.A. LOC), 2.000%, 12/7/2022 | 5,500,000 | |
25,620,000 | Memphis-Shelby County, TN Industrial Development Board - PCRB (Nucor Steel Memphis, Inc.), (Series 2007) Weekly VRDNs, (GTD by Nucor Corp.), 2.250%, 12/7/2022 | 25,620,000 | |
21,400,000 | Metropolitan Government Nashville & Davidson County, TN, (2014 Program), CPX, 2.850%, Mandatory Tender 2/1/2023 | 21,400,000 | |
TOTAL | 52,520,000 | ||
Texas— 13.0% | |||
2,700,000 | Alamo, TX CCD, RBC Muni Products (Series G-111) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Mandatory Tender 5/1/2023 | 2,700,000 | |
2,700,000 | El Paso, TX Housing Finance Corp., Mizuho 3a-7 (2022-MIZ9104) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,700,000 | |
4,000,000 | Jewett, TX Economic Development Corporation (Nucor Corp.), (Series 2003) Weekly VRDNs, 2.250%, 12/7/2022 | 4,000,000 | |
4,000,000 | Mission, TX Economic Development Corp. (Waste Management, Inc.), (Series 2020A) TOBs, (GTD by Waste Management Holdings, Inc.), 2.950%, Mandatory Tender 12/1/2022 | 4,000,000 | |
9,500,000 | Mission, TX Economic Development Corp. (Waste Management, Inc.), (Series 2020B) TOBs, (GTD by Waste Management Holdings, Inc.), 2.950%, Mandatory Tender 12/1/2022 | 9,500,000 | |
4,700,000 | North Texas Tollway Authority, RBC Municipal Products Trust (Series 2019 G-112) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 4,700,000 | |
61,600,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002A) Daily VRDNs, 1.900%, 12/1/2022 | 61,600,000 | |
18,825,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2003) Daily VRDNs, 1.970%, 12/1/2022 | 18,825,000 | |
25,000,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2005) Daily VRDNs, 1.970%, 12/1/2022 | 25,000,000 | |
40,600,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2006) Daily VRDNs, 1.970%, 12/1/2022 | 40,600,000 | |
3,900,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2007) Daily VRDNs, 1.970%, 12/1/2022 | 3,900,000 | |
22,450,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010A) Daily VRDNs, 1.850%, 12/1/2022 | 22,450,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 10,250,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010B) Daily VRDNs, 1.850%, 12/1/2022 | $ 10,250,000 | |
35,600,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010C) Daily VRDNs, 1.880%, 12/1/2022 | 35,600,000 | |
83,900,000 | Port of Port Arthur Navigation District of Jefferson County, TX (Motiva Enterprises LLC), (Series 2010E) Weekly VRDNs, 2.600%, 12/7/2022 | 83,900,000 | |
26,000,000 | Texas State Affordable Housing Corp., Tender Option Bond Trust Receipts (Series 2022-XF3033) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 26,000,000 | |
15,000,000 | Texas State Department of Housing & Community Affairs (Onion Creek Housing Partners Ltd.), (Series 2007) Weekly VRDNs, (FNMA LOC), 2.040%, 12/1/2022 | 15,000,000 | |
TOTAL | 370,725,000 | ||
Virginia— 0.1% | |||
1,610,000 | Emporia, VA Industrial Development Board (Toll VA III LP), (Series 1999) Weekly VRDNs, (Truist Bank LOC), 1.980%, 12/1/2022 | 1,610,000 | |
Washington— 0.0% | |||
1,260,000 | Washington State Economic Development Finance Authority (Mesa Dairy, LLC), (Series 2007E) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 2.000%, 12/1/2022 | 1,260,000 | |
Wisconsin— 3.8% | |||
15,985,000 | Public Finance Authority, WI (Agape Meadowcreek, Inc.), Tender Option Bond Trust Floater Certificates (Series 2022-XF3026) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 15,985,000 | |
1,415,000 | 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), 2.100%, 12/1/2022 | 1,415,000 | |
2,050,000 | 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), 2.100%, 12/1/2022 | 2,050,000 | |
685,000 | West Bend, WI IDA (Jackson Concrete, Inc.), (Series 2006) Weekly VRDNs, (U.S. Bank, N.A. LOC), 2.210%, 12/1/2022 | 685,000 | |
2,265,000 | Wisconsin State Public Finance Authority (Birchwood Properties LP), (Series 2016) Weekly VRDNs, (FHLB of Des Moines LOC), 2.120%, 12/1/2022 | 2,265,000 | |
57,500,000 | Wisconsin State Public Finance Authority (Waste Management, Inc.), (Series A-2) TOBs, 4.000%, Mandatory Tender 2/1/2023 | 57,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Wisconsin— continued | |||
$ 30,000,000 | Wisconsin State Public Finance Authority (Waste Management, Inc.), (Series A-3) TOBs, (GTD by Waste Management Holdings, Inc.), 4.000%, Mandatory Tender 2/1/2023 | $ 30,000,000 | |
TOTAL | 109,900,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.3% (AT AMORTIZED COST)2 | 2,864,285,742 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.3)%3 | (9,219,704) | ||
TOTAL NET ASSETS—100% | $2,855,066,038 |
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 | |
CDA | —Community Development Authority | |
CP | —Commercial Paper | |
CPX | —Commercial Paper Extendible | |
EDA | —Economic Development Authority | |
EDRB | —Economic Development Revenue Bond | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HDA | —Hospital Development Authority | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDRB | —Industrial Development Revenue Bond | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCFA | —Pollution Control Financing Authority | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
TANs | —Tax Anticipation Notes | |
TOBs | —Tender Option Bonds | |
VMTP | —Variable Municipal Term Preferred | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.008 | 0.001 | 0.001 | 0.012 | 0.0132 | 0.011 | 0.001 |
Net realized gain (loss) | 0.000 | 0.0003 | 0.0003 | 0.001 | 0.0003 | 0.0003 | 0.001 |
Total From Investment Operations | 0.008 | 0.001 | 0.001 | 0.013 | 0.013 | 0.011 | 0.002 |
Less Distributions: | |||||||
Distributions from net investment income | (0.008) | (0.001) | (0.001) | (0.013) | (0.013) | (0.011) | (0.001) |
Distributions from net realized gain | — | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | (0.001) |
Total Distributions | (0.008) | (0.001) | (0.001) | (0.013) | (0.013) | (0.011) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.78% | 0.12% | 0.13% | 1.27% | 1.27% | 1.12% | 0.72% |
Ratios to Average Net Assets: | |||||||
Net expenses5 | 0.21%6 | 0.19% | 0.21% | 0.21% | 0.21%6 | 0.21% | 0.21% |
Net investment income | 1.59%6 | 0.13% | 0.12% | 1.24% | 1.52%6 | 1.10% | 0.64% |
Expense waiver/ reimbursement7 | 0.09%6 | 0.11% | 0.09% | 0.09% | 0.09%6 | 0.10% | 0.11% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $2,160,489 | $1,772,201 | $1,372,803 | $1,510,434 | $1,713,390 | $1,163,568 | $667,169 |
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 | Per share numbers have been calculated using the average shares method. |
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. |
November 30, 2022 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $2,864,285,742 |
Cash | 3,437,510 |
Income receivable | 9,356,449 |
Receivable for investments sold | 24,887,771 |
Receivable for shares sold | 2,390,397 |
Total Assets | 2,904,357,869 |
Liabilities: | |
Payable for investments purchased | 38,979,829 |
Payable for shares redeemed | 9,584,928 |
Income distribution payable | 340,977 |
Payable for investment adviser fee (Note 4) | 8,643 |
Payable for administrative fee (Note 4) | 6,130 |
Payable for Directors’/Trustees’ fees (Note 4) | 109 |
Payable for distribution services fee (Note 4) | 102,464 |
Payable for other service fees (Notes 2 and 4) | 141,905 |
Accrued expenses (Note 4) | 126,846 |
Total Liabilities | 49,291,831 |
Net assets for 2,855,015,691 shares outstanding | $2,855,066,038 |
Net Assets Consist of: | |
Paid-in capital | $2,854,995,379 |
Total distributable earnings (loss) | 70,659 |
Total Net Assets | $2,855,066,038 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$4,377,023 ÷ 4,376,946 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Shares: | |
$4,033,458 ÷ 4,033,387 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$2,160,488,978 ÷ 2,160,450,864 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$229,936,916 ÷ 229,932,861 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$66,957,074 ÷ 66,955,894 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$197,861,570 ÷ 197,858,088 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$191,411,019 ÷ 191,407,651 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2022 (unaudited)
Investment Income: | |
Interest | $24,917,552 |
Expenses: | |
Investment adviser fee (Note 4) | 2,862,503 |
Administrative fee (Note 4) | 1,122,899 |
Custodian fees | 42,753 |
Transfer agent fees (Note 2) | 252,665 |
Directors’/Trustees’ fees (Note 4) | 8,989 |
Auditing fees | 11,851 |
Legal fees | 4,229 |
Portfolio accounting fees | 125,779 |
Distribution services fee (Note 4) | 796,503 |
Other service fees (Notes 2 and 4) | 968,434 |
Share registration costs | 93,967 |
Printing and postage | 21,216 |
Miscellaneous (Note 4) | 10,609 |
TOTAL EXPENSES | 6,322,397 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 4) | (1,253,460) |
Waivers/reimbursements of other operating expenses (Notes 2 and 4) | (191,814) |
TOTAL WAIVERS AND REIMBURSEMENTS | (1,445,274) |
Net expenses | 4,877,123 |
Net investment income | 20,040,429 |
Change in net assets resulting from operations | $20,040,429 |
Six Months Ended (unaudited) 11/30/2022 | Year Ended 5/31/2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $20,040,429 | $2,176,337 |
Net realized gain (loss) | — | 69,113 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 20,040,429 | 2,245,450 |
Distributions to Shareholders: | ||
Automated Shares | (335,661) | (242,884) |
Investment Shares | (13,904) | (720) |
Wealth Shares | (15,614,472) | (1,667,616) |
Service Shares | (1,536,629) | (127,174) |
Cash II Shares | (296,764) | (9,913) |
Cash Series Shares | (810,926) | (37,090) |
Capital Shares | (1,431,863) | (177,141) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (20,040,219) | (2,262,538) |
Share Transactions: | ||
Proceeds from sale of shares | 3,378,335,781 | 3,952,421,143 |
Net asset value of shares issued to shareholders in payment of distributions declared | 18,470,106 | 2,064,912 |
Cost of shares redeemed | (3,754,811,666) | (3,710,160,577) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (358,005,779) | 244,325,478 |
Change in net assets | (358,005,569) | 244,308,390 |
Net Assets: | ||
Beginning of period | 3,213,071,607 | 2,968,763,217 |
End of period | $2,855,066,038 | $3,213,071,607 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Automated Shares | $83,188 | $— |
Investment Shares | 1,290 | — |
Wealth Shares | 17,182 | — |
Service Shares | 2,040 | — |
Cash II Shares | 33,748 | — |
Cash Series Shares | 113,512 | (33,486) |
Capital Shares | 1,705 | (2) |
TOTAL | $252,665 | $(33,488) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $205,465 | $— | $— |
Investment Shares | 3,210 | — | (1) |
Service Shares | 293,252 | — | — |
Cash II Shares | 88,226 | (504) | (2,373) |
Cash Series Shares | 279,044 | (5,040) | (27,207) |
Capital Shares | 99,237 | — | — |
TOTAL | $968,434 | $(5,544) | $(29,581) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Automated Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 32,311 | $32,311 | 371,576 | $371,576 |
Shares issued to shareholders in payment of distributions declared | 335 | 335 | 243 | 243 |
Shares redeemed | (728,501) | (728,501) | (354,815) | (354,815) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (695,855) | $(695,855) | 17,004 | $17,004 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Investment Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 5,051 | $5,051 | 6,695 | $6,695 |
Shares issued to shareholders in payment of distributions declared | 14 | 14 | 1 | 1 |
Shares redeemed | (3,905) | (3,905) | (8,579) | (8,579) |
NET CHANGE RESULTING FROM INVESTMENT SHARE TRANSACTIONS | 1,160 | $1,160 | (1,883) | $(1,883) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 2,649,014 | $2,649,014 | 2,302,899 | $2,302,899 |
Shares issued to shareholders in payment of distributions declared | 14,373 | 14,373 | 1,492 | 1,492 |
Shares redeemed | (2,275,110) | (2,275,110) | (1,904,990) | (1,904,990) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 388,277 | $388,277 | 399,401 | $399,401 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 290,134 | $290,134 | 583,932 | $583,932 |
Shares issued to shareholders in payment of distributions declared | 1,236 | 1,236 | 106 | 106 |
Shares redeemed | (294,376) | (294,376) | (606,878) | (606,878) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (3,006) | $(3,006) | (22,840) | $(22,840) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Cash II Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 26,082 | $26,082 | 30,387 | $30,387 |
Shares issued to shareholders in payment of distributions declared | 293 | 293 | 10 | 10 |
Shares redeemed | (31,262) | (31,262) | (32,676) | (32,676) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (4,887) | $(4,887) | (2,279) | $(2,279) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Cash Series Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 210,138 | $210,138 | 483,411 | $483,411 |
Shares issued to shareholders in payment of distributions declared | 800 | 800 | 37 | 37 |
Shares redeemed | (250,655) | (250,655) | (533,981) | (533,981) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (39,717) | $(39,717) | (50,533) | $(50,533) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Capital Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 165,606 | $165,606 | 173,522 | $173,522 |
Shares issued to shareholders in payment of distributions declared | 1,419 | 1,419 | 177 | 177 |
Shares redeemed | (171,003) | (171,003) | (268,244) | (268,244) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (3,978) | $(3,978) | (94,545) | $(94,545) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (358,006) | $(358,006) | 244,325 | $244,325 |
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 | $3,210 | $(385) |
Cash II Shares | 123,588 | — |
Cash Series Shares | 669,705 | (122,816) |
TOTAL | $796,503 | $(123,201) |
Beginning Account Value 6/1/2022 | Ending Account Value 11/30/2022 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,007.80 | $1.06 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.02 | $1.07 |
1 | Expenses are equal to the Fund’s Wealth Shares annualized net expense ratio of 0.21%, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half-year period). |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Share Class | Ticker | Wealth | TBIXX | Advisor | TBVXX | Service | TBSXX |
Federated Hermes Tax-Free Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 75.7% |
Municipal Notes | 13.0% |
Commercial Paper | 10.7% |
Other Assets and Liabilities—Net2 | 0.6% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of the principal types of securities in which the Fund invests. |
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 | 71.7% |
8-30 Days | 2.0% |
31-90 Days | 16.1% |
91-180 Days | 4.8% |
181 Days or more | 4.8% |
Other Assets and Liabilities—Net2 | 0.6% |
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— 99.4% | ||
Alabama— 5.0% | |||
$ 7,510,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-A) Daily VRDNs, 1.100%, 12/1/2022 | $ 7,510,000 | |
8,600,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 1.100%, 12/1/2022 | 8,600,000 | |
50,000,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-D) Weekly VRDNs, 2.020%, 12/7/2022 | 50,000,000 | |
2,735,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series C) Daily VRDNs, 1.100%, 12/1/2022 | 2,735,000 | |
3,100,000 | Eutaw, AL Industrial Development Board PCRB (Alabama Power Co.), (Series 1998) Daily VRDNs, 1.100%, 12/1/2022 | 3,100,000 | |
13,000,000 | Mobile, AL IDB (Alabama Power Co.), (Second Series 2009) Daily VRDNs, 1.120%, 12/1/2022 | 13,000,000 | |
44,300,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 2.020%, 12/7/2022 | 44,300,000 | |
33,810,000 | West Jefferson, AL IDB PCRB (Alabama Power Co.), (Series 1998) Weekly VRDNs, 2.020%, 12/1/2022 | 33,810,000 | |
TOTAL | 163,055,000 | ||
Alaska— 0.4% | |||
13,540,000 | Valdez, AK Marine Terminal (Exxon Pipeline Co.), (Series 1993 C) Daily VRDNs, (Exxon Mobil Corp. GTD), 1.000%, 12/1/2022 | 13,540,000 | |
Arizona— 0.9% | |||
30,000,000 | Arizona State IDA (Vaseo Apartments LP), Mizuho 3a-7 (2021-MIZ9088) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 30,000,000 | |
California— 9.8% | |||
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), 2.050%, 12/1/2022 | 40,000,000 | |
3,610,000 | California HFA, Mizuho 3a-7 (Series 2022-MIZ9097) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 3,610,000 | |
19,850,000 | California HFA, Tender Option Bond Trust Floater Certificates (Series 2022-XF3059) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 19,850,000 | |
4,350,000 | California Infrastructure & Economic Development Bank (Los Angeles Society for the Prevention of Cruelty to Animals), (Series 2002A) Weekly VRDNs, (Bank of New York Mellon, N.A. LOC), 1.870%, 12/1/2022 | 4,350,000 | |
7,500,000 | California Municipal Finance Authority (Montague Parkway Associates LP), Tender Option Bond Trust Floater Certificates (2020-MIZ9041) Daily VRDNs, (Federal Home Loan Mortgage Corp. GTD)/(Mizuho Bank Ltd. LIQ), 1.100%, 12/1/2022 | 7,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 8,815,000 | California School Finance Authority (CPMS Higher Ground, LLC), Tender Option Bond Trust Receipts (2020-XF2893) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | $ 8,815,000 | |
8,471,000 | California Statewide Communities Development Authority (Essex Monarch Santa Monica Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9011) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 8,471,000 | |
11,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 2.020%, Mandatory Tender 12/14/2022 | 11,000,000 | |
12,395,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 2.000%, Mandatory Tender 12/13/2022 | 12,395,000 | |
7,310,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 2.020%, Mandatory Tender 12/7/2022 | 7,310,000 | |
20,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 3.100%, Mandatory Tender 3/2/2023 | 20,000,000 | |
13,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 2.780%, Mandatory Tender 3/7/2023 | 13,000,000 | |
12,500,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-1), CP, 1.900%, Mandatory Tender 12/7/2022 | 12,500,000 | |
8,300,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series AA: One Uptown Newport Apartments) Weekly VRDNs, (Comerica Bank LOC), 1.950%, 12/1/2022 | 8,300,000 | |
4,500,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: One Uptown Newport Apartments) Weekly VRDNs, (Federal Home Loan Bank of Des Moines LOC), 1.940%, 12/1/2022 | 4,500,000 | |
28,180,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2021 Series A: One Uptown Newport Apartments) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 1.960%, 12/1/2022 | 28,180,000 | |
4,655,000 | Davis Joint Unified School District, CA, Tender Option Bond Trust Certificates (Series 2019-XM0730) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.020%, 12/1/2022 | 4,655,000 | |
7,075,000 | Foothill/Eastern Transportation Corridor Agency, CA, Tender Option Bond Trust Certificates (2019-XL011) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.020%, 12/1/2022 | 7,075,000 | |
21,185,000 | 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 2022-MIZ9110) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 21,185,000 | |
32,200,000 | San Francisco, CA City and County (Block 9 MRU Residential LLC), Mizuho 3A-7 (Series 2022-MIZ9100) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 32,200,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 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), 2.150%, 12/1/2022 | $ 13,400,000 | |
28,625,000 | Sweetwater, CA Union High School District, Tender Option Bond Trust (Series 2022-XF1394) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.020%, 12/1/2022 | 28,625,000 | |
5,000,000 | Western Placer, CA Unified School District, Tender Option Bond Trust Receipts (Series 2017-XG0152) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.020%, 12/1/2022 | 5,000,000 | |
TOTAL | 321,921,000 | ||
Colorado— 1.4% | |||
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), 1.080%, 12/1/2022 | 17,570,000 | |
2,279,265 | Colorado HFA (Steele San Juan, LLC), Mizuho 3a-7 (Series 2021-MIZ9068) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,279,265 | |
25,772,000 | Colorado HFA, (Series 2022-XF3035) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 25,772,000 | |
TOTAL | 45,621,265 | ||
Connecticut— 0.9% | |||
26,235,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 26,235,000 | |
3,465,000 | Shelton, CT Housing Authority (Crosby Commons), (Series 1998) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 1.970%, 12/1/2022 | 3,465,000 | |
TOTAL | 29,700,000 | ||
Florida— 11.4% | |||
19,240,000 | Clearwater, FL Water and Sewer Authority, Solar Eclipse (Series 2017-0014) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.990%, 12/1/2022 | 19,240,000 | |
18,400,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.), (First Series 2009) Daily VRDNs, 1.100%, 12/1/2022 | 18,400,000 | |
4,230,000 | 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), 2.100%, 12/1/2022 | 4,230,000 | |
13,000,000 | Hillsborough County, FL IDA (Baycare Health System), (Series 2020B) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 13,000,000 | |
25,000,000 | JEA, FL Electric System, (Series 2008C-3), CP, (Royal Bank of Canada LIQ), 2.650%, Mandatory Tender 12/6/2022 | 25,000,000 | |
6,075,000 | JEA, FL Electric System, (Series Three 2008A) Weekly VRDNs, (Royal Bank of Canada LIQ), 1.870%, 12/7/2022 | 6,075,000 | |
24,450,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 1.870%, 12/7/2022 | 24,450,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— continued | |||
$ 14,300,000 | Manatee County, FL (Florida Power & Light Co.), Pollution Control Revenue Refunding Bonds (Series 1994) Daily VRDNs, 1.150%, 12/1/2022 | $ 14,300,000 | |
14,500,000 | Martin County, FL (Florida Power & Light Co.), (Series 2022) Weekly VRDNs, 1.950%, 12/1/2022 | 14,500,000 | |
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), 2.150%, 12/1/2022 | 2,495,000 | |
1,400,000 | Miami-Dade County, FL HFA (Superior Manor Phase II LLC), Mizuho 3a-7 (2022-MIZ9087) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 1,400,000 | |
46,170,000 | Miami-Dade County, FL School District, (Series 2022) TANs, 4.000%, 2/23/2023 | 46,350,092 | |
3,160,000 | Miami-Dade County, FL Seaport, Tender Option Bond Trust Certificates (Series 2022-ZL0343) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 3,160,000 | |
16,500,000 | Polk County, FL IDA (Baycare Health System), (Series 2014A-2) VRENs, 2.200%, 12/1/2022 | 16,500,000 | |
111,160,000 | St. Lucie County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 1.050%, 12/1/2022 | 111,160,000 | |
3,700,000 | Tampa-Hillsborough County, FL Expressway Authority, RBC Muni Products (Series G-113) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 3,700,000 | |
6,440,000 | Tolomato Community Development District, FL, (Series 2022-XL0297) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 2.020%, 12/1/2022 | 6,440,000 | |
44,500,000 | 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), 1.080%, 12/1/2022 | 44,500,000 | |
TOTAL | 374,900,092 | ||
Georgia— 0.3% | |||
805,000 | 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), 1.930%, 12/1/2022 | 805,000 | |
3,330,000 | Columbia County, GA Development Authority (Schools for Arts-Infused Learning, Inc.), Tender Option Bond Trust Receipts (2022-XF2966) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 3,330,000 | |
7,525,000 | Municipal Electric Authority of Georgia, (Series 2022-XG0417) Weekly VRDNs, (Build America Mutual Assurance INS)/(Wells Fargo Bank, N.A. LIQ), 2.010%, 12/1/2022 | 7,525,000 | |
TOTAL | 11,660,000 | ||
Idaho— 0.2% | |||
6,500,000 | Idaho Health Facilities Authority (Trinity Healthcare Credit Group), (Series 2013ID) TOBs, 3.300%, Mandatory Tender 2/1/2023 | 6,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Illinois— 3.3% | |||
$ 600,000 | Chicago, IL MFH Revenue (Churchview Manor Senior Apartments), (Series 2012) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 2.240%, 12/1/2022 | $ 600,000 | |
10,200,000 | Chicago, IL Park District, (Series 2015-XF2111) Weekly VRDNs, (Build America Mutual Assurance INS)/(Citibank N.A., New York LIQ), 2.000%, 12/1/2022 | 10,200,000 | |
5,000,000 | Chicago, IL Park District, Tender Option Bond Trust Certificates (Series 2021-XX1168) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 2.000%, 12/1/2022 | 5,000,000 | |
3,000,000 | Chicago, IL Park District, Tender Option Bond Trust Certificates (Series 2021-XX1169) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 2.000%, 12/1/2022 | 3,000,000 | |
27,000,000 | Chicago, IL Sales Tax, Tender Option Bond Trust Receipt (Series 2019-XF0779) Weekly VRDNs, (Build America Mutual Assurance INS)/(Toronto Dominion Bank LIQ), 1.950%, 12/1/2022 | 27,000,000 | |
8,780,000 | 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), 1.980%, 12/1/2022 | 8,780,000 | |
16,233,602 | 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), 2.200%, Optional Tender 12/15/2022 | 16,233,602 | |
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), 1.980%, 12/1/2022 | 33,750,000 | |
2,960,000 | Sales Tax Securitization Corp., IL, Tender Option Bond Trust Certificates (Series 2022-XL0294) Weekly VRDNs, (Barclays Bank plc LIQ)/(Build America Mutual Assurance INS), 2.000%, 12/1/2022 | 2,960,000 | |
TOTAL | 107,523,602 | ||
Indiana— 3.2% | |||
17,440,000 | Indiana State Finance Authority (Ascension Health Alliance Senior Credit Group), (Series 2008E-4) Weekly VRDNs, 1.820%, 12/7/2022 | 17,440,000 | |
50,000,000 | Indiana State Finance Authority (Trinity Healthcare Credit Group), (Series 2008 D-2), CP, 2.000%, Mandatory Tender 1/4/2023 | 50,000,000 | |
12,140,000 | Indiana State Finance Authority Environmental (Ispat Inland Inc.), (Series 2005) Weekly VRDNs, (Cooperatieve Rabobank UA LOC), 2.000%, 12/7/2022 | 12,140,000 | |
25,200,000 | Indiana State Finance Authority Hospital Revenue (Parkview Health System Obligated Group), (Series 2009D) Daily VRDNs, (Wells Fargo Bank, N.A. LOC), 1.050%, 12/1/2022 | 25,200,000 | |
TOTAL | 104,780,000 | ||
Kentucky— 0.6% | |||
16,465,000 | Georgetown, KY (Georgetown College), (Series 2006) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.880%, 12/2/2022 | 16,465,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Kentucky— continued | |||
$ 3,965,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Mandatory Tender 5/1/2023 | $ 3,965,000 | |
TOTAL | 20,430,000 | ||
Louisiana— 0.1% | |||
910,000 | Louisiana Local Government Environmental Facilities CDA (The Academy of the Sacred Heart of New Orleans), (Series 2004) Weekly VRDNs, (Federal Home Loan Bank of Dallas LOC), 1.980%, 12/7/2022 | 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), 2.150%, 12/1/2022 | 3,100,000 | |
TOTAL | 4,010,000 | ||
Maryland— 2.7% | |||
7,500,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 7,500,000 | |
30,000,000 | Maryland State Economic Development Corp. (929 N Wolfe Street LLC), (Series 2022-XF3015) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 2.120%, 12/1/2022 | 30,000,000 | |
53,000,000 | Montgomery County, MD (Trinity Healthcare Credit Group), (Series 2013MD) TOBs, 2.580%, Mandatory Tender 12/1/2022 | 53,000,000 | |
TOTAL | 90,500,000 | ||
Michigan— 2.2% | |||
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), 2.000%, 12/1/2022 | 4,000,000 | |
11,100,000 | Michigan State Building Authority, (Series III) VRENs, 1.960%, 12/1/2022 | 11,100,000 | |
40,560,000 | Michigan State Finance Authority Revenue (Trinity Healthcare Credit Group), (Series 2013MI-1) TOBs, 2.580%, Mandatory Tender 12/1/2022 | 40,560,000 | |
8,850,000 | Michigan State Strategic Fund (Henry Ford Museum & Greenfield Village) Daily VRDNs, (Comerica Bank LOC), 1.150%, 12/1/2022 | 8,850,000 | |
2,990,000 | Michigan Strategic Fund (Washtenaw Christian Academy), (Series 2008) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.880%, 12/2/2022 | 2,990,000 | |
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), 2.000%, 12/1/2022 | 4,000,000 | |
TOTAL | 71,500,000 | ||
Minnesota— 0.6% | |||
19,500,000 | Dakota County, MN Community Development Agency, (Series 2022-XF3050) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 19,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Mississippi— 0.9% | |||
$ 30,600,000 | Perry County, MS (Leaf River Cellulose LLC), (Series 2021) Weekly VRDNs, (GTD by Georgia-Pacific LLC), 1.930%, 12/1/2022 | $ 30,600,000 | |
Missouri— 0.4% | |||
1,100,000 | Kansas City, MO Planned Industrial Expansion Authority (EPD3 Ridgeview LP), Mizuho 3a-7 (2022-MIZ9086) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 1,100,000 | |
2,500,000 | Lees Summit, MO IDA (EPD3 Ashbrooke LP), (Series 2020 MIZ9055) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,500,000 | |
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), 1.950%, 12/1/2022 | 10,000,000 | |
TOTAL | 13,600,000 | ||
Montana— 0.2% | |||
7,815,000 | 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), 2.150%, 12/1/2022 | 7,815,000 | |
Multi-State— 7.0% | |||
116,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Societe Generale, Paris LIQ), 1.960%, 12/1/2022 | 116,000,000 | |
88,400,000 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund, (Series 2) Weekly VRDPs, (JPMorgan Chase Bank, N.A. LIQ), 1.960%, 12/1/2022 | 88,400,000 | |
25,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Barclays Bank PLC LIQ), 1.950%, 12/1/2022 | 25,000,000 | |
TOTAL | 229,400,000 | ||
Nebraska— 0.7% | |||
21,600,000 | Washington County, NE (Cargill, Inc.), (Series 2010) Weekly VRDNs, 1.950%, 12/1/2022 | 21,600,000 | |
Nevada— 0.3% | |||
10,500,000 | Nevada Housing Division (DWF V Summit Club Holdings LLC), Mizuho 3a-7 (2021-MIZ9091) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 10,500,000 | |
New Jersey— 3.0% | |||
11,140,000 | Clark Township, NJ BANs, 1.000%, 12/2/2022 | 11,140,188 | |
4,303,451 | Cranbury Township, NJ BANs, 3.750%, 8/31/2023 | 4,333,887 | |
2,688,415 | Englewood Cliffs, NJ BANs, 4.500%, 8/9/2023 | 2,697,942 | |
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), 2.020%, 12/1/2022 | 20,940,000 | |
9,892,000 | Glen Rock, NJ BANs, 4.750%, 7/20/2023 | 9,946,858 | |
8,050,000 | Hackensack, NJ BANs, 3.750%, 8/30/2023 | 8,108,530 | |
2,367,700 | Laurel Springs, NJ, (Series A) BANs, 3.750%, 9/13/2023 | 2,381,206 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 4,000,000 | New Jersey Turnpike Authority, RBC Muni Products (Series G-119) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.080%, Optional Tender 1/3/2023 | $ 4,000,000 | |
7,835,000 | North Caldwell, NJ BANs, 4.500%, 7/13/2023 | 7,865,455 | |
5,759,000 | Ocean Township, NJ (Ocean County) BANs, 3.750%, 9/6/2023 | 5,797,492 | |
4,460,000 | Old Tappan, NJ BANs, 4.500%, 3/1/2023 | 4,468,166 | |
5,500,000 | Red Bank, NJ BANs, 3.500%, 1/27/2023 | 5,504,240 | |
2,045,000 | Riverside Township, NJ BANs, 4.750%, 8/16/2023 | 2,053,419 | |
8,500,000 | Tenafly, NJ BANs, 4.500%, 5/26/2023 | 8,532,441 | |
TOTAL | 97,769,824 | ||
New Mexico— 0.2% | |||
6,705,000 | New Mexico State Hospital Equipment Loan Council (Haverland Carter Lifestyle Obligated Group), Barclays 3a-7 Credit Enhanced (Series 2022-034) VRENs, (Barclays Bank plc LIQ)/(Barclays Bank plc LOC), 2.100%, 12/1/2022 | 6,705,000 | |
New York— 15.7% | |||
3,935,213 | Battery Park, NY City Authority, RBC Muni Products (Series 2019-E-137) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.930%, 12/1/2022 | 3,935,213 | |
11,210,000 | Broome County, NY (United Health Services Hospitals, Inc.), (Series 2022-XF1289) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 2.050%, 12/1/2022 | 11,210,000 | |
9,200,000 | East Irondequoit, NY Central School District BANs, 4.250%, 6/28/2023 | 9,264,954 | |
1,750,000 | Greenport, NY Union Free School District TANs, 4.500%, 4/3/2023 | 1,754,675 | |
20,000,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), (Series 2012A-2) Weekly VRDNs, (Bank of Montreal LOC), 2.000%, 12/1/2022 | 20,000,000 | |
10,490,000 | 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), 1.950%, 12/1/2022 | 10,490,000 | |
8,340,000 | Metropolitan Transportation Authority, NY, (Series 2022-XX1236) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank plc LIQ), 2.020%, 12/1/2022 | 8,340,000 | |
21,500,000 | Metropolitan Transportation Authority, NY, (Subseries 2005E-1) Weekly VRDNs, (Barclays Bank PLC LOC), 1.880%, 12/1/2022 | 21,500,000 | |
25,000,000 | New York City, NY Municipal Water Finance Authority, (Series 2010CC) Weekly VRDNs, (Barclays Bank PLC LIQ), 1.880%, 12/1/2022 | 25,000,000 | |
19,000,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-1) Daily VRDNs, (UBS AG LIQ), 1.020%, 12/1/2022 | 19,000,000 | |
19,850,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-2) Daily VRDNs, (Landesbank Hessen-Thuringen LIQ), 1.020%, 12/1/2022 | 19,850,000 | |
15,000,000 | New York City, NY Transitional Finance Authority, (Subseries A2) Daily VRDNs, (UBS AG LIQ), 1.020%, 12/1/2022 | 15,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 16,185,000 | New York City, NY, (Fiscal 2006 Series I-8) Daily VRDNs, (State Street Bank and Trust Co. LIQ), 1.050%, 12/1/2022 | $ 16,185,000 | |
6,395,000 | New York City, NY, (Fiscal 2008 Subseries L-4) Daily VRDNs, (U.S. Bank, N.A. LOC), 1.050%, 12/1/2022 | 6,395,000 | |
6,000,000 | New York City, NY, (Fiscal 2010 Series G Subseries G-4) Weekly VRDNs, (Barclays Bank PLC LIQ), 1.880%, 12/1/2022 | 6,000,000 | |
2,200,000 | New York City, NY, (Fiscal 2012 Series A-4) Weekly VRDNs, (MUFG Bank Ltd. LOC), 1.880%, 12/1/2022 | 2,200,000 | |
10,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 10,000,000 | |
3,635,000 | New York State Dormitory Authority (Blythedale Children’s Hospital), (Series 2009) Weekly VRDNs, (TD Bank, N.A. LOC), 1.920%, 12/1/2022 | 3,635,000 | |
3,000,000 | New York State Dormitory Authority (Northwell Healthcare, Inc.), Tender Option Bond Trust Certificates (Series 2022-XL0272) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 2.020%, 12/1/2022 | 3,000,000 | |
5,500,000 | New York State HFA (10 Barclay Street Housing LLC), (Series A) Weekly VRDNs, (Federal National Mortgage Association LOC), 1.800%, 12/7/2022 | 5,500,000 | |
3,500,000 | New York State HFA (100 Maiden Lane), (2004 Series A) Weekly VRDNs, (Federal National Mortgage Association LOC), 1.850%, 12/7/2022 | 3,500,000 | |
17,000,000 | New York State HFA (17th and 10th Associates, LLC), (Series 2009A: Related-Taconic West 17th Street) Weekly VRDNs, (Federal National Mortgage Association LOC), 1.800%, 12/7/2022 | 17,000,000 | |
83,795,000 | New York State HFA (42nd and 10th Street Associates LLC), (Series 2022-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.100%, 12/1/2022 | 83,795,000 | |
2,500,000 | New York State Power Authority (New York State Power Authority Transmission Project), (Series 2022-XF1300) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 2.020%, 12/1/2022 | 2,500,000 | |
5,475,000 | New York State Power Authority (New York State Power Authority Transmission Project), (Series 2022-YX1184) Weekly VRDNs, (GTD by Assured Guaranty Municipal Corp.)/(Barclays Bank PLC LIQ), 1.980%, 12/1/2022 | 5,475,000 | |
8,300,000 | New York State Power Authority, (Series 2), CP, (JPMorgan Chase Bank, N.A. LIQ)/(State Street Bank and Trust Co. LIQ)/(TD Bank, N.A. LIQ)/(Wells Fargo Bank, N.A. LIQ), 2.600%, Mandatory Tender 12/6/2022 | 8,300,000 | |
5,850,000 | New York State Thruway Authority, Tender Option Bond Certificates (Series 2022-XL0312) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 5,850,000 | |
35,500,000 | Northport - East Northport, NY Unified Free School District TANs, 3.500%, 3/1/2023 | 35,591,502 | |
40,900,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Royal Bank of Canada LIQ), 1.950%, 12/1/2022 | 40,900,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 11,000,000 | Penn-Yan, NY Central School District BANs, 4.250%, 6/28/2023 | $ 11,073,316 | |
18,000,000 | Riverhead, NY Central School District, (Series B) TANs, 4.000%, 6/28/2023 | 18,141,749 | |
30,000,000 | Syosset, NY CSD TANs, 4.000%, 6/28/2023 | 30,236,331 | |
20,000,000 | Triborough Bridge & Tunnel Authority, NY, (Series B-2A) Weekly VRDNs, (State Street Bank and Trust Co. LOC), 2.000%, 12/7/2022 | 20,000,000 | |
10,350,000 | Troy, NY Enlarged CSD BANs, 4.000%, 6/8/2023 | 10,449,683 | |
6,000,000 | West Genesee, NY Central School District RANs, 3.500%, 12/28/2022 | 6,005,471 | |
TOTAL | 517,077,894 | ||
North Carolina— 0.3% | |||
10,000,000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health (previously Carolinas HealthCare) System), (Series 2007E) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 10,000,000 | |
Ohio— 3.8% | |||
4,000,000 | Cleveland, OH, Tender Option Bond Trust Receipts (Series 2018-XF2657) Weekly VRDNs, (Bank of America N.A. LIQ), 2.040%, 12/1/2022 | 4,000,000 | |
15,585,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2013A) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 1.860%, 12/1/2022 | 15,585,000 | |
10,750,000 | Franklin County, OH Mortgage Revenue (Trinity Healthcare Credit Group), (Series 2013OH) TOBs, 3.300%, Mandatory Tender 2/1/2023 | 10,750,000 | |
2,190,000 | Licking County, OH, Airport Facilities Improvement BANs Series 2022) BANs, 4.000%, 8/29/2023 | 2,207,984 | |
1,095,000 | Lorain County, OH, (Series B) BANs, 2.000%, 12/15/2022 | 1,095,669 | |
23,640,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 23,640,000 | |
9,200,000 | Ohio State (Capital Facilities Lease-Appropriation -Adult Correction Building Fund), (Series 2016C) Weekly VRDNs, (Ohio State LIQ), 2.000%, 12/7/2022 | 9,200,000 | |
29,145,000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series B-5), CP, 1.800%, Mandatory Tender 12/1/2022 | 29,145,000 | |
4,285,000 | Ohio State Hospital Revenue (University Hospitals Health System Inc. Obligated Group), (Series C-18) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.940%, 12/1/2022 | 4,285,000 | |
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), 2.050%, 12/1/2022 | 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), 2.100%, Optional Tender 12/1/2022 | 10,000,000 | |
TOTAL | 124,708,653 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
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), 1.950%, 12/1/2022 | $ 3,410,000 | |
Oregon— 0.3% | |||
5,000,000 | Oregon State Department of Transportation, (Series A-1), CP, (Wells Fargo Bank, N.A. LOC), 2.470%, Mandatory Tender 12/1/2022 | 5,000,000 | |
1,250,000 | Oregon State Department of Transportation, (Series A-1), CP, (Wells Fargo Bank, N.A. LOC), 3.000%, Mandatory Tender 2/1/2023 | 1,250,000 | |
3,400,000 | Oregon State Department of Transportation, (Series A-2), CP, (Bank of Montreal LOC), 3.000%, Mandatory Tender 2/1/2023 | 3,400,000 | |
TOTAL | 9,650,000 | ||
Pennsylvania— 6.2% | |||
6,400,000 | Allegheny County, PA HDA (Dialysis Clinic, Inc.), (Series 1997) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.870%, 12/1/2022 | 6,400,000 | |
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), 1.980%, 12/1/2022 | 4,490,000 | |
2,065,000 | Chester County, PA HEFA (Tel Hai Obligated Group Project), (Series of 2009) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 1.970%, 12/1/2022 | 2,065,000 | |
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), 2.100%, Optional Tender 1/3/2023 | 11,995,000 | |
23,300,000 | Pennsylvania State Higher Education Facilities Authority (University of Pennsylvania Health System), (2008 Series A) Weekly VRDNs, (Bank of America N.A. LOC), 1.840%, 12/7/2022 | 23,300,000 | |
12,605,000 | Pennsylvania State Turnpike Commission, (Series 2022-ZL0364) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.050%, 12/1/2022 | 12,605,000 | |
9,500,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5025) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 1.080%, 12/1/2022 | 9,500,000 | |
24,830,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5026) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 1.080%, 12/1/2022 | 24,830,000 | |
7,180,000 | 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), 1.980%, 12/1/2022 | 7,180,000 | |
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), 2.150%, 12/1/2022 | 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), 1.980%, 12/1/2022 | 6,865,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$ 59,475,000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, (Series A of 2007) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(PNC Bank, N.A. LIQ), 1.910%, 12/1/2022 | $ 59,475,000 | |
18,700,000 | Southcentral PA, General Authority (Wellspan Health Obligated Group), (Series 2019E) Daily VRDNs, (U.S. Bank, N.A. LIQ), 1.070%, 12/1/2022 | 18,700,000 | |
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)/(Morgan Stanley Bank, N.A. LIQ), 1.980%, 12/1/2022 | 14,000,000 | |
TOTAL | 202,930,000 | ||
South Carolina— 0.4% | |||
5,530,000 | South Carolina State Public Service Authority, Tender Option Bond Trust Certificates (Series 2022-XL0313) Weekly VRDNs, (Build America Mutual Assurance INS)/(Wells Fargo Bank, N.A. LIQ), 2.020%, 12/1/2022 | 5,530,000 | |
6,670,000 | South Carolina Transportation Infrastructure Bank, Tender Option Bond Trust Receipts (Series G-109) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 4/3/2023 | 6,670,000 | |
TOTAL | 12,200,000 | ||
Tennessee— 4.7% | |||
2,300,000 | Blount County, TN Public Building Authority (Knox County, TN), (Series C-3-A) Weekly VRDNs, (Truist Bank LIQ), 2.000%, 12/1/2022 | 2,300,000 | |
23,620,000 | Johnson City, TN Health & Education Facilities Board (Ballad Health), (Series 2022B) Weekly VRDNs, (Truist Bank LOC), 1.920%, 12/1/2022 | 23,620,000 | |
3,150,000 | Metropolitan Government Nashville & Davidson County, TN HEFA (Meharry Medical College), (Series 2009) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.880%, 12/2/2022 | 3,150,000 | |
23,000,000 | Metropolitan Government Nashville & Davidson County, TN, (2014 Program), CPX, 2.850%, Mandatory Tender 2/1/2023 | 23,000,000 | |
7,500,000 | Sevier County, TN Public Building Authority, (Series V-B-1) Weekly VRDNs, (Truist Bank LOC), 2.000%, 12/1/2022 | 7,500,000 | |
58,800,000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008A) Daily VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 1.030%, 12/1/2022 | 58,800,000 | |
36,320,000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008B) Daily VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 1.070%, 12/1/2022 | 36,320,000 | |
TOTAL | 154,690,000 | ||
Texas— 8.0% | |||
11,005,000 | Dallas, TX, (Series A), CP, 2.350%, Mandatory Tender 12/7/2022 | 11,005,000 | |
3,485,000 | Dallas, TX, (Series A), CP, 2.800%, Mandatory Tender 12/7/2022 | 3,485,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 3,060,000 | El Paso, TX Housing Finance Corp., Mizuho 3A-7 (2022-MIZ9104) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | $ 3,060,000 | |
7,100,000 | Gulf Coast, TX IDA (Exxon Mobil Corp.), (Series 2012) Daily VRDNs, 1.000%, 12/1/2022 | 7,100,000 | |
95,000,000 | Harris County, TX Cultural Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Subseries 2009C-1), CP, 1.050%, Mandatory Tender 12/1/2022 | 95,000,000 | |
7,600,000 | Port Arthur Navigation District, TX IDC (TOTAL Petrochemicals USA, Inc.), (Series 2012B) Weekly VRDNs, (GTD by TotalEnergies SE), 1.890%, 12/7/2022 | 7,600,000 | |
10,600,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002B) Daily VRDNs, 1.950%, 12/1/2022 | 10,600,000 | |
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), 1.890%, 12/7/2022 | 41,000,000 | |
20,000,000 | San Antonio, TX Electric & Gas System, (2012 Series A), CP, 2.750%, Mandatory Tender 12/8/2022 | 20,000,000 | |
6,075,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), (Series 2011C) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 6,075,000 | |
8,565,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Methodist Hospitals of Dallas), (Series 2008A) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 8,565,000 | |
10,000,000 | Texas State Affordable Housing Corp., Tender Option Bond Trust Receipts (Series 2022-XF3033) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 10,000,000 | |
40,000,000 | Texas State, (Veterans Bonds Series 2022) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 1.950%, 12/7/2022 | 40,000,000 | |
TOTAL | 263,490,000 | ||
Virginia— 1.6% | |||
1,700,000 | Fairfax County, VA EDA (Young Men’s Christian Association of Metropolitan Washington), (Series 2001) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 1.970%, 12/2/2022 | 1,700,000 | |
6,500,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003D) Weekly VRDNs, 1.900%, 12/7/2022 | 6,500,000 | |
335,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), (Series 2017C) Weekly VRDNs, (Truist Bank LOC), 2.000%, 12/1/2022 | 335,000 | |
9,885,000 | Norfolk, VA EDA (Sentara Health Systems Obligation Group), (Series 2016B) Weekly VRDNs, 1.800%, 12/7/2022 | 9,885,000 | |
5,000,000 | Norfolk, VA EDA (Sentara Health Systems Obligation Group), (Series C-19) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.940%, 12/1/2022 | 5,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Virginia— continued | |||
$ 6,000,000 | Norfolk, VA EDA (Sentara Health Systems Obligation Group), (Series C-20) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.940%, 12/1/2022 | $ 6,000,000 | |
2,000,000 | University of Virginia (The Rectors and Visitors of), Solar Eclipse (Series 2017-0017) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 1.950%, 12/1/2022 | 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), 2.050%, 12/1/2022 | 8,585,000 | |
1,540,000 | 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), 2.050%, 12/1/2022 | 1,540,000 | |
3,600,000 | 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), 2.050%, 12/1/2022 | 3,600,000 | |
2,515,000 | 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), 2.050%, 12/1/2022 | 2,515,000 | |
3,555,000 | 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), 2.100%, Optional Tender 2/1/2023 | 3,555,000 | |
TOTAL | 51,215,000 | ||
West Virginia— 0.2% | |||
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), 1.950%, 12/1/2022 | 1,475,000 | |
5,635,000 | West Virginia State Hospital Finance Authority (Cabell Huntington Hospital), (Series 2008A) Weekly VRDNs, (Truist Bank LOC), 2.000%, 12/1/2022 | 5,635,000 | |
TOTAL | 7,110,000 | ||
Wisconsin— 2.4% | |||
4,000,000 | Fort Atkinson, WI School District BANs, 4.000%, 6/22/2023 | 4,008,400 | |
16,646,000 | Public Finance Authority, WI (Agape Meadowcreek, Inc.), Tender Option Bond Trust Floater Certificates (Series 2022-XF3026) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 16,646,000 | |
2,790,000 | Public Finance Authority, WI (Atlantic Housing Foundation, Inc.), Mizuho 3a-7 (2022-MIZ9092) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,790,000 | |
31,420,000 | Public Finance Authority, WI (Bradford Preparatory School), (Series 2022-XF2997) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 31,420,000 | |
11,061,000 | Wisconsin Center District, Tender Option Bond Trust Receipts (Series 2020-XF1208) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 2.020%, 12/1/2022 | 11,061,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Wisconsin— continued | |||
$ 13,600,000 | Wisconsin State, (Series A) Weekly VRDNs, 2.000%, 12/1/2022 | $ 13,600,000 | |
TOTAL | 79,525,400 | ||
TOTAL INVESTMENT IN SECURITIES—99.4% (AT AMORTIZED COST)2 | 3,269,137,730 | ||
OTHER ASSETS AND LIABILITIES - NET—0.6%3 | 19,141,243 | ||
TOTAL NET ASSETS—100% | $3,288,278,973 |
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 | |
CDA | —Community Development Authority | |
COL | —Collateralized | |
CP | —Commercial Paper | |
CPX | —Commercial Paper Extendible | |
CSD | —Central School District | |
EDA | —Economic Development Authority | |
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 | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PLC | —Public Limited Company | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
RANs | —Revenue Anticipation Notes | |
TANs | —Tax Anticipation Notes | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.007 | 0.001 | 0.001 | 0.012 | 0.012 | 0.010 | 0.006 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.002 |
Total From Investment Operations | 0.007 | 0.001 | 0.001 | 0.012 | 0.012 | 0.010 | 0.008 |
Less Distributions: | |||||||
Distributions from net investment income | (0.007) | (0.001) | (0.001) | (0.012) | (0.012) | (0.010) | (0.006) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.002) |
Total Distributions | (0.007) | (0.001) | (0.001) | (0.012) | (0.012) | (0.010) | (0.008) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.70% | 0.09% | 0.06% | 1.19% | 1.22% | 1.03% | 0.77% |
Ratios to Average Net Assets: | |||||||
Net expenses4 | 0.21%5 | 0.15% | 0.21% | 0.21% | 0.21%5 | 0.21% | 0.21% |
Net investment income | 1.40%5 | 0.08% | 0.06% | 1.14% | 1.46%5 | 1.03% | 0.57% |
Expense waiver/ reimbursement6 | 0.08%5 | 0.15% | 0.09% | 0.08% | 0.09%5 | 0.09% | 0.09% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $2,928,409 | $2,374,257 | $2,415,796 | $4,131,257 | $3,403,098 | $3,054,475 | $2,270,120 |
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 | 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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191, 2 | |||
2022 | 2021 | 2020 | |||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.007 | 0.001 | 0.001 | 0.012 | 0.006 |
Net realized gain (loss) | 0.0003 | 0.0003 | 0.0003 | 0.0003 | (0.000)3 |
Total From Investment Operations | 0.007 | 0.001 | 0.001 | 0.012 | 0.006 |
Less Distributions: | |||||
Distributions from net investment income | (0.007) | (0.001) | (0.001) | (0.012) | (0.006) |
Distributions from net realized gain | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | — |
Total Distributions | (0.007) | (0.001) | (0.001) | (0.012) | (0.006) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 0.70% | 0.09% | 0.06% | 1.19% | 0.55% |
Ratios to Average Net Assets: | |||||
Net expenses5 | 0.21%6 | 0.16% | 0.21% | 0.21% | 0.22%6 |
Net investment income | 1.57%6 | 0.12% | 0.07% | 1.06% | 1.61%6 |
Expense waiver/reimbursement7 | 0.08%6 | 0.14% | 0.09% | 0.09% | 0.09%6 |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $169,954 | $41,546 | $18,161 | $42,186 | $5,368 |
1 | Reflects operations for the period from January 18, 2019 (commencement of operations) 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) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.006 | 0.0002 | 0.0002 | 0.009 | 0.010 | 0.008 | 0.003 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.002 |
Total From Investment Operations | 0.006 | 0.0002 | 0.0002 | 0.009 | 0.010 | 0.008 | 0.005 |
Less Distributions: | |||||||
Distributions from net investment income | (0.006) | (0.000)2 | (0.000)2 | (0.009) | (0.010) | (0.008) | (0.003) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.002) |
Total Distributions | (0.006) | (0.000)2 | (0.000)2 | (0.009) | (0.010) | (0.008) | (0.005) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.57% | 0.04% | 0.01% | 0.93% | 1.01% | 0.78% | 0.52% |
Ratios to Average Net Assets: | |||||||
Net expenses4 | 0.46%5 | 0.20% | 0.26% | 0.46% | 0.46%5 | 0.46% | 0.46% |
Net investment income | 1.16%5 | 0.03% | 0.01% | 0.90% | 1.20%5 | 0.75% | 0.31% |
Expense waiver/reimbursement6 | 0.08%5 | 0.35% | 0.29% | 0.08% | 0.09%5 | 0.09% | 0.09% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $189,915 | $161,073 | $226,166 | $217,345 | $213,406 | $297,390 | $228,340 |
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 | 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, 2022 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $3,269,137,730 |
Cash | 5,777,995 |
Income receivable | 10,498,996 |
Receivable for investments sold | 57,947,222 |
Receivable for shares sold | 17,616,669 |
Total Assets | 3,360,978,612 |
Liabilities: | |
Payable for investments purchased | 67,843,400 |
Payable for shares redeemed | 3,398,473 |
Income distribution payable | 1,403,178 |
Payable for investment adviser fee (Note 4) | 10,421 |
Payable for administrative fee (Note 4) | 7,016 |
Accrued expenses (Note 4) | 37,151 |
Total Liabilities | 72,699,639 |
Net assets for 3,288,266,380 shares outstanding | $3,288,278,973 |
Net Assets Consist of: | |
Paid-in capital | $3,288,246,897 |
Total distributable earnings (loss) | 32,076 |
Total Net Assets | $3,288,278,973 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$2,928,409,237 ÷ 2,928,397,916 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$169,954,437 ÷ 169,953,905 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$189,915,299 ÷ 189,914,559 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2022 (unaudited)
Investment Income: | |
Interest | $23,422,329 |
Expenses: | |
Investment adviser fee (Note 4) | 2,887,305 |
Administrative fee (Note 4) | 1,132,397 |
Custodian fees | 42,935 |
Transfer agent fees | 13,296 |
Directors’/Trustees’ fees (Note 4) | 7,865 |
Auditing fees | 11,851 |
Legal fees | 1,575 |
Portfolio accounting fees | 105,241 |
Other service fees (Notes 2 and 4) | 206,397 |
Share registration costs | 59,478 |
Printing and postage | 14,085 |
Miscellaneous (Note 4) | 31,796 |
TOTAL EXPENSES | 4,514,221 |
Waiver of investment adviser fee (Note 4) | (1,205,414) |
Net expenses | 3,308,807 |
Net investment income | 20,113,522 |
Net realized gain on investments | 26,809 |
Change in net assets resulting from operations | $20,140,331 |
Six Months Ended (unaudited) 11/30/2022 | Year Ended 5/31/2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $20,113,522 | $1,993,737 |
Net realized gain (loss) | 26,809 | 42,794 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 20,140,331 | 2,036,531 |
Distributions to Shareholders: | ||
Wealth Shares | (18,460,626) | (2,168,585) |
Advisor Shares | (702,220) | (27,583) |
Service Shares | (961,051) | (69,395) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (20,123,897) | (2,265,563) |
Share Transactions: | ||
Proceeds from sale of shares | 3,256,101,794 | 3,448,904,393 |
Net asset value of shares issued to shareholders in payment of distributions declared | 13,391,778 | 1,339,475 |
Cost of shares redeemed | (2,558,106,689) | (3,533,261,962) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 711,386,883 | (83,018,094) |
Change in net assets | 711,403,317 | (83,247,126) |
Net Assets: | ||
Beginning of period | 2,576,875,656 | 2,660,122,782 |
End of period | $3,288,278,973 | $2,576,875,656 |
Other Service Fees Incurred | |
Service Shares | $206,397 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 2,820,064 | $2,820,064 | 3,133,791 | $3,133,791 |
Shares issued to shareholders in payment of distributions declared | 12,192 | 12,192 | 1,278 | 1,278 |
Shares redeemed | (2,278,119) | (2,278,119) | (3,176,400) | (3,176,400) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 554,137 | $554,137 | (41,331) | $(41,331) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Advisor Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 261,818 | $261,818 | 36,197 | $36,197 |
Shares issued to shareholders in payment of distributions declared | 701 | 701 | 28 | 28 |
Shares redeemed | (134,110) | (134,110) | (12,838) | (12,838) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 128,409 | $128,409 | 23,387 | $23,387 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 174,220 | $174,220 | 278,917 | $278,917 |
Shares issued to shareholders in payment of distributions declared | 499 | 499 | 34 | 34 |
Shares redeemed | (145,878) | (145,878) | (344,024) | (344,024) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 28,841 | $28,841 | (65,073) | $(65,073) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 711,387 | $711,387 | (83,017) | $(83,017) |
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 6/1/2022 | Ending Account Value 11/30/2022 | Expenses Paid During Period1 | |
Actual: | |||
Wealth Shares | $1,000 | $1,007.00 | $1.06 |
Advisor Shares | $1,000 | $1,007.00 | $1.06 |
Service Shares | $1,000 | $1,005.70 | $2.31 |
Hypothetical (assuming a 5% return before expenses): | |||
Wealth Shares | $1,000 | $1,024.02 | $1.07 |
Advisor Shares | $1,000 | $1,024.02 | $1.07 |
Service Shares | $1,000 | $1,022.76 | $2.33 |
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 | 0.21% |
Advisor Shares | 0.21% |
Service Shares | 0.46% |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919411
CUSIP 60934N880
Share Class | Ticker | Wealth | TBIXX |
Federated Hermes Tax-Free Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 75.7% |
Municipal Notes | 13.0% |
Commercial Paper | 10.7% |
Other Assets and Liabilities—Net2 | 0.6% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of the principal types of securities in which the Fund invests. |
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 | 71.7% |
8-30 Days | 2.0% |
31-90 Days | 16.1% |
91-180 Days | 4.8% |
181 Days or more | 4.8% |
Other Assets and Liabilities—Net2 | 0.6% |
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— 99.4% | ||
Alabama— 5.0% | |||
$ 7,510,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-A) Daily VRDNs, 1.100%, 12/1/2022 | $ 7,510,000 | |
8,600,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 1.100%, 12/1/2022 | 8,600,000 | |
50,000,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series 2014-D) Weekly VRDNs, 2.020%, 12/7/2022 | 50,000,000 | |
2,735,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series C) Daily VRDNs, 1.100%, 12/1/2022 | 2,735,000 | |
3,100,000 | Eutaw, AL Industrial Development Board PCRB (Alabama Power Co.), (Series 1998) Daily VRDNs, 1.100%, 12/1/2022 | 3,100,000 | |
13,000,000 | Mobile, AL IDB (Alabama Power Co.), (Second Series 2009) Daily VRDNs, 1.120%, 12/1/2022 | 13,000,000 | |
44,300,000 | Mobile, AL IDB (Alabama Power Co.), PCRBs (Series 2007B) Weekly VRDNs, 2.020%, 12/7/2022 | 44,300,000 | |
33,810,000 | West Jefferson, AL IDB PCRB (Alabama Power Co.), (Series 1998) Weekly VRDNs, 2.020%, 12/1/2022 | 33,810,000 | |
TOTAL | 163,055,000 | ||
Alaska— 0.4% | |||
13,540,000 | Valdez, AK Marine Terminal (Exxon Pipeline Co.), (Series 1993 C) Daily VRDNs, (Exxon Mobil Corp. GTD), 1.000%, 12/1/2022 | 13,540,000 | |
Arizona— 0.9% | |||
30,000,000 | Arizona State IDA (Vaseo Apartments LP), Mizuho 3a-7 (2021-MIZ9088) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 30,000,000 | |
California— 9.8% | |||
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), 2.050%, 12/1/2022 | 40,000,000 | |
3,610,000 | California HFA, Mizuho 3a-7 (Series 2022-MIZ9097) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 3,610,000 | |
19,850,000 | California HFA, Tender Option Bond Trust Floater Certificates (Series 2022-XF3059) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 19,850,000 | |
4,350,000 | California Infrastructure & Economic Development Bank (Los Angeles Society for the Prevention of Cruelty to Animals), (Series 2002A) Weekly VRDNs, (Bank of New York Mellon, N.A. LOC), 1.870%, 12/1/2022 | 4,350,000 | |
7,500,000 | California Municipal Finance Authority (Montague Parkway Associates LP), Tender Option Bond Trust Floater Certificates (2020-MIZ9041) Daily VRDNs, (Federal Home Loan Mortgage Corp. GTD)/(Mizuho Bank Ltd. LIQ), 1.100%, 12/1/2022 | 7,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 8,815,000 | California School Finance Authority (CPMS Higher Ground, LLC), Tender Option Bond Trust Receipts (2020-XF2893) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | $ 8,815,000 | |
8,471,000 | California Statewide Communities Development Authority (Essex Monarch Santa Monica Apartments LP), Tender Option Bond Trust Floater Certificates (Series 2019-MIZ9011) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 8,471,000 | |
11,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 2.020%, Mandatory Tender 12/14/2022 | 11,000,000 | |
12,395,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 2.000%, Mandatory Tender 12/13/2022 | 12,395,000 | |
7,310,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 2.020%, Mandatory Tender 12/7/2022 | 7,310,000 | |
20,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 3.100%, Mandatory Tender 3/2/2023 | 20,000,000 | |
13,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 2.780%, Mandatory Tender 3/7/2023 | 13,000,000 | |
12,500,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-1), CP, 1.900%, Mandatory Tender 12/7/2022 | 12,500,000 | |
8,300,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series AA: One Uptown Newport Apartments) Weekly VRDNs, (Comerica Bank LOC), 1.950%, 12/1/2022 | 8,300,000 | |
4,500,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: One Uptown Newport Apartments) Weekly VRDNs, (Federal Home Loan Bank of Des Moines LOC), 1.940%, 12/1/2022 | 4,500,000 | |
28,180,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2021 Series A: One Uptown Newport Apartments) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 1.960%, 12/1/2022 | 28,180,000 | |
4,655,000 | Davis Joint Unified School District, CA, Tender Option Bond Trust Certificates (Series 2019-XM0730) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.020%, 12/1/2022 | 4,655,000 | |
7,075,000 | Foothill/Eastern Transportation Corridor Agency, CA, Tender Option Bond Trust Certificates (2019-XL011) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.020%, 12/1/2022 | 7,075,000 | |
21,185,000 | 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 2022-MIZ9110) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 21,185,000 | |
32,200,000 | San Francisco, CA City and County (Block 9 MRU Residential LLC), Mizuho 3A-7 (Series 2022-MIZ9100) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 32,200,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 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), 2.150%, 12/1/2022 | $ 13,400,000 | |
28,625,000 | Sweetwater, CA Union High School District, Tender Option Bond Trust (Series 2022-XF1394) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.020%, 12/1/2022 | 28,625,000 | |
5,000,000 | Western Placer, CA Unified School District, Tender Option Bond Trust Receipts (Series 2017-XG0152) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 2.020%, 12/1/2022 | 5,000,000 | |
TOTAL | 321,921,000 | ||
Colorado— 1.4% | |||
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), 1.080%, 12/1/2022 | 17,570,000 | |
2,279,265 | Colorado HFA (Steele San Juan, LLC), Mizuho 3a-7 (Series 2021-MIZ9068) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,279,265 | |
25,772,000 | Colorado HFA, (Series 2022-XF3035) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 25,772,000 | |
TOTAL | 45,621,265 | ||
Connecticut— 0.9% | |||
26,235,000 | Connecticut State, Golden Blue (Series 2017-014) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 26,235,000 | |
3,465,000 | Shelton, CT Housing Authority (Crosby Commons), (Series 1998) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 1.970%, 12/1/2022 | 3,465,000 | |
TOTAL | 29,700,000 | ||
Florida— 11.4% | |||
19,240,000 | Clearwater, FL Water and Sewer Authority, Solar Eclipse (Series 2017-0014) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.990%, 12/1/2022 | 19,240,000 | |
18,400,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.), (First Series 2009) Daily VRDNs, 1.100%, 12/1/2022 | 18,400,000 | |
4,230,000 | 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), 2.100%, 12/1/2022 | 4,230,000 | |
13,000,000 | Hillsborough County, FL IDA (Baycare Health System), (Series 2020B) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 13,000,000 | |
25,000,000 | JEA, FL Electric System, (Series 2008C-3), CP, (Royal Bank of Canada LIQ), 2.650%, Mandatory Tender 12/6/2022 | 25,000,000 | |
6,075,000 | JEA, FL Electric System, (Series Three 2008A) Weekly VRDNs, (Royal Bank of Canada LIQ), 1.870%, 12/7/2022 | 6,075,000 | |
24,450,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 1.870%, 12/7/2022 | 24,450,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— continued | |||
$ 14,300,000 | Manatee County, FL (Florida Power & Light Co.), Pollution Control Revenue Refunding Bonds (Series 1994) Daily VRDNs, 1.150%, 12/1/2022 | $ 14,300,000 | |
14,500,000 | Martin County, FL (Florida Power & Light Co.), (Series 2022) Weekly VRDNs, 1.950%, 12/1/2022 | 14,500,000 | |
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), 2.150%, 12/1/2022 | 2,495,000 | |
1,400,000 | Miami-Dade County, FL HFA (Superior Manor Phase II LLC), Mizuho 3a-7 (2022-MIZ9087) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 1,400,000 | |
46,170,000 | Miami-Dade County, FL School District, (Series 2022) TANs, 4.000%, 2/23/2023 | 46,350,092 | |
3,160,000 | Miami-Dade County, FL Seaport, Tender Option Bond Trust Certificates (Series 2022-ZL0343) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 3,160,000 | |
16,500,000 | Polk County, FL IDA (Baycare Health System), (Series 2014A-2) VRENs, 2.200%, 12/1/2022 | 16,500,000 | |
111,160,000 | St. Lucie County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 1.050%, 12/1/2022 | 111,160,000 | |
3,700,000 | Tampa-Hillsborough County, FL Expressway Authority, RBC Muni Products (Series G-113) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 3,700,000 | |
6,440,000 | Tolomato Community Development District, FL, (Series 2022-XL0297) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 2.020%, 12/1/2022 | 6,440,000 | |
44,500,000 | 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), 1.080%, 12/1/2022 | 44,500,000 | |
TOTAL | 374,900,092 | ||
Georgia— 0.3% | |||
805,000 | 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), 1.930%, 12/1/2022 | 805,000 | |
3,330,000 | Columbia County, GA Development Authority (Schools for Arts-Infused Learning, Inc.), Tender Option Bond Trust Receipts (2022-XF2966) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.100%, 12/1/2022 | 3,330,000 | |
7,525,000 | Municipal Electric Authority of Georgia, (Series 2022-XG0417) Weekly VRDNs, (Build America Mutual Assurance INS)/(Wells Fargo Bank, N.A. LIQ), 2.010%, 12/1/2022 | 7,525,000 | |
TOTAL | 11,660,000 | ||
Idaho— 0.2% | |||
6,500,000 | Idaho Health Facilities Authority (Trinity Healthcare Credit Group), (Series 2013ID) TOBs, 3.300%, Mandatory Tender 2/1/2023 | 6,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Illinois— 3.3% | |||
$ 600,000 | Chicago, IL MFH Revenue (Churchview Manor Senior Apartments), (Series 2012) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 2.240%, 12/1/2022 | $ 600,000 | |
10,200,000 | Chicago, IL Park District, (Series 2015-XF2111) Weekly VRDNs, (Build America Mutual Assurance INS)/(Citibank N.A., New York LIQ), 2.000%, 12/1/2022 | 10,200,000 | |
5,000,000 | Chicago, IL Park District, Tender Option Bond Trust Certificates (Series 2021-XX1168) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 2.000%, 12/1/2022 | 5,000,000 | |
3,000,000 | Chicago, IL Park District, Tender Option Bond Trust Certificates (Series 2021-XX1169) Weekly VRDNs, (Barclays Bank PLC LIQ)/(Build America Mutual Assurance INS), 2.000%, 12/1/2022 | 3,000,000 | |
27,000,000 | Chicago, IL Sales Tax, Tender Option Bond Trust Receipt (Series 2019-XF0779) Weekly VRDNs, (Build America Mutual Assurance INS)/(Toronto Dominion Bank LIQ), 1.950%, 12/1/2022 | 27,000,000 | |
8,780,000 | 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), 1.980%, 12/1/2022 | 8,780,000 | |
16,233,602 | 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), 2.200%, Optional Tender 12/15/2022 | 16,233,602 | |
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), 1.980%, 12/1/2022 | 33,750,000 | |
2,960,000 | Sales Tax Securitization Corp., IL, Tender Option Bond Trust Certificates (Series 2022-XL0294) Weekly VRDNs, (Barclays Bank plc LIQ)/(Build America Mutual Assurance INS), 2.000%, 12/1/2022 | 2,960,000 | |
TOTAL | 107,523,602 | ||
Indiana— 3.2% | |||
17,440,000 | Indiana State Finance Authority (Ascension Health Alliance Senior Credit Group), (Series 2008E-4) Weekly VRDNs, 1.820%, 12/7/2022 | 17,440,000 | |
50,000,000 | Indiana State Finance Authority (Trinity Healthcare Credit Group), (Series 2008 D-2), CP, 2.000%, Mandatory Tender 1/4/2023 | 50,000,000 | |
12,140,000 | Indiana State Finance Authority Environmental (Ispat Inland Inc.), (Series 2005) Weekly VRDNs, (Cooperatieve Rabobank UA LOC), 2.000%, 12/7/2022 | 12,140,000 | |
25,200,000 | Indiana State Finance Authority Hospital Revenue (Parkview Health System Obligated Group), (Series 2009D) Daily VRDNs, (Wells Fargo Bank, N.A. LOC), 1.050%, 12/1/2022 | 25,200,000 | |
TOTAL | 104,780,000 | ||
Kentucky— 0.6% | |||
16,465,000 | Georgetown, KY (Georgetown College), (Series 2006) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.880%, 12/2/2022 | 16,465,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Kentucky— continued | |||
$ 3,965,000 | Kentucky State Property & Buildings Commission, RBC Muni Products (Series G-116) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Mandatory Tender 5/1/2023 | $ 3,965,000 | |
TOTAL | 20,430,000 | ||
Louisiana— 0.1% | |||
910,000 | Louisiana Local Government Environmental Facilities CDA (The Academy of the Sacred Heart of New Orleans), (Series 2004) Weekly VRDNs, (Federal Home Loan Bank of Dallas LOC), 1.980%, 12/7/2022 | 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), 2.150%, 12/1/2022 | 3,100,000 | |
TOTAL | 4,010,000 | ||
Maryland— 2.7% | |||
7,500,000 | Baltimore, MD Wastewater Utility, (RBC Muni Products Series G-28) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 1/3/2023 | 7,500,000 | |
30,000,000 | Maryland State Economic Development Corp. (929 N Wolfe Street LLC), (Series 2022-XF3015) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 2.120%, 12/1/2022 | 30,000,000 | |
53,000,000 | Montgomery County, MD (Trinity Healthcare Credit Group), (Series 2013MD) TOBs, 2.580%, Mandatory Tender 12/1/2022 | 53,000,000 | |
TOTAL | 90,500,000 | ||
Michigan— 2.2% | |||
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), 2.000%, 12/1/2022 | 4,000,000 | |
11,100,000 | Michigan State Building Authority, (Series III) VRENs, 1.960%, 12/1/2022 | 11,100,000 | |
40,560,000 | Michigan State Finance Authority Revenue (Trinity Healthcare Credit Group), (Series 2013MI-1) TOBs, 2.580%, Mandatory Tender 12/1/2022 | 40,560,000 | |
8,850,000 | Michigan State Strategic Fund (Henry Ford Museum & Greenfield Village) Daily VRDNs, (Comerica Bank LOC), 1.150%, 12/1/2022 | 8,850,000 | |
2,990,000 | Michigan Strategic Fund (Washtenaw Christian Academy), (Series 2008) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.880%, 12/2/2022 | 2,990,000 | |
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), 2.000%, 12/1/2022 | 4,000,000 | |
TOTAL | 71,500,000 | ||
Minnesota— 0.6% | |||
19,500,000 | Dakota County, MN Community Development Agency, (Series 2022-XF3050) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 19,500,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Mississippi— 0.9% | |||
$ 30,600,000 | Perry County, MS (Leaf River Cellulose LLC), (Series 2021) Weekly VRDNs, (GTD by Georgia-Pacific LLC), 1.930%, 12/1/2022 | $ 30,600,000 | |
Missouri— 0.4% | |||
1,100,000 | Kansas City, MO Planned Industrial Expansion Authority (EPD3 Ridgeview LP), Mizuho 3a-7 (2022-MIZ9086) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 1,100,000 | |
2,500,000 | Lees Summit, MO IDA (EPD3 Ashbrooke LP), (Series 2020 MIZ9055) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,500,000 | |
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), 1.950%, 12/1/2022 | 10,000,000 | |
TOTAL | 13,600,000 | ||
Montana— 0.2% | |||
7,815,000 | 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), 2.150%, 12/1/2022 | 7,815,000 | |
Multi-State— 7.0% | |||
116,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Societe Generale, Paris LIQ), 1.960%, 12/1/2022 | 116,000,000 | |
88,400,000 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund, (Series 2) Weekly VRDPs, (JPMorgan Chase Bank, N.A. LIQ), 1.960%, 12/1/2022 | 88,400,000 | |
25,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Barclays Bank PLC LIQ), 1.950%, 12/1/2022 | 25,000,000 | |
TOTAL | 229,400,000 | ||
Nebraska— 0.7% | |||
21,600,000 | Washington County, NE (Cargill, Inc.), (Series 2010) Weekly VRDNs, 1.950%, 12/1/2022 | 21,600,000 | |
Nevada— 0.3% | |||
10,500,000 | Nevada Housing Division (DWF V Summit Club Holdings LLC), Mizuho 3a-7 (2021-MIZ9091) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 10,500,000 | |
New Jersey— 3.0% | |||
11,140,000 | Clark Township, NJ BANs, 1.000%, 12/2/2022 | 11,140,188 | |
4,303,451 | Cranbury Township, NJ BANs, 3.750%, 8/31/2023 | 4,333,887 | |
2,688,415 | Englewood Cliffs, NJ BANs, 4.500%, 8/9/2023 | 2,697,942 | |
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), 2.020%, 12/1/2022 | 20,940,000 | |
9,892,000 | Glen Rock, NJ BANs, 4.750%, 7/20/2023 | 9,946,858 | |
8,050,000 | Hackensack, NJ BANs, 3.750%, 8/30/2023 | 8,108,530 | |
2,367,700 | Laurel Springs, NJ, (Series A) BANs, 3.750%, 9/13/2023 | 2,381,206 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New Jersey— continued | |||
$ 4,000,000 | New Jersey Turnpike Authority, RBC Muni Products (Series G-119) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.080%, Optional Tender 1/3/2023 | $ 4,000,000 | |
7,835,000 | North Caldwell, NJ BANs, 4.500%, 7/13/2023 | 7,865,455 | |
5,759,000 | Ocean Township, NJ (Ocean County) BANs, 3.750%, 9/6/2023 | 5,797,492 | |
4,460,000 | Old Tappan, NJ BANs, 4.500%, 3/1/2023 | 4,468,166 | |
5,500,000 | Red Bank, NJ BANs, 3.500%, 1/27/2023 | 5,504,240 | |
2,045,000 | Riverside Township, NJ BANs, 4.750%, 8/16/2023 | 2,053,419 | |
8,500,000 | Tenafly, NJ BANs, 4.500%, 5/26/2023 | 8,532,441 | |
TOTAL | 97,769,824 | ||
New Mexico— 0.2% | |||
6,705,000 | New Mexico State Hospital Equipment Loan Council (Haverland Carter Lifestyle Obligated Group), Barclays 3a-7 Credit Enhanced (Series 2022-034) VRENs, (Barclays Bank plc LIQ)/(Barclays Bank plc LOC), 2.100%, 12/1/2022 | 6,705,000 | |
New York— 15.7% | |||
3,935,213 | Battery Park, NY City Authority, RBC Muni Products (Series 2019-E-137) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.930%, 12/1/2022 | 3,935,213 | |
11,210,000 | Broome County, NY (United Health Services Hospitals, Inc.), (Series 2022-XF1289) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 2.050%, 12/1/2022 | 11,210,000 | |
9,200,000 | East Irondequoit, NY Central School District BANs, 4.250%, 6/28/2023 | 9,264,954 | |
1,750,000 | Greenport, NY Union Free School District TANs, 4.500%, 4/3/2023 | 1,754,675 | |
20,000,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), (Series 2012A-2) Weekly VRDNs, (Bank of Montreal LOC), 2.000%, 12/1/2022 | 20,000,000 | |
10,490,000 | 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), 1.950%, 12/1/2022 | 10,490,000 | |
8,340,000 | Metropolitan Transportation Authority, NY, (Series 2022-XX1236) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank plc LIQ), 2.020%, 12/1/2022 | 8,340,000 | |
21,500,000 | Metropolitan Transportation Authority, NY, (Subseries 2005E-1) Weekly VRDNs, (Barclays Bank PLC LOC), 1.880%, 12/1/2022 | 21,500,000 | |
25,000,000 | New York City, NY Municipal Water Finance Authority, (Series 2010CC) Weekly VRDNs, (Barclays Bank PLC LIQ), 1.880%, 12/1/2022 | 25,000,000 | |
19,000,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-1) Daily VRDNs, (UBS AG LIQ), 1.020%, 12/1/2022 | 19,000,000 | |
19,850,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-2) Daily VRDNs, (Landesbank Hessen-Thuringen LIQ), 1.020%, 12/1/2022 | 19,850,000 | |
15,000,000 | New York City, NY Transitional Finance Authority, (Subseries A2) Daily VRDNs, (UBS AG LIQ), 1.020%, 12/1/2022 | 15,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 16,185,000 | New York City, NY, (Fiscal 2006 Series I-8) Daily VRDNs, (State Street Bank and Trust Co. LIQ), 1.050%, 12/1/2022 | $ 16,185,000 | |
6,395,000 | New York City, NY, (Fiscal 2008 Subseries L-4) Daily VRDNs, (U.S. Bank, N.A. LOC), 1.050%, 12/1/2022 | 6,395,000 | |
6,000,000 | New York City, NY, (Fiscal 2010 Series G Subseries G-4) Weekly VRDNs, (Barclays Bank PLC LIQ), 1.880%, 12/1/2022 | 6,000,000 | |
2,200,000 | New York City, NY, (Fiscal 2012 Series A-4) Weekly VRDNs, (MUFG Bank Ltd. LOC), 1.880%, 12/1/2022 | 2,200,000 | |
10,000,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 10,000,000 | |
3,635,000 | New York State Dormitory Authority (Blythedale Children’s Hospital), (Series 2009) Weekly VRDNs, (TD Bank, N.A. LOC), 1.920%, 12/1/2022 | 3,635,000 | |
3,000,000 | New York State Dormitory Authority (Northwell Healthcare, Inc.), Tender Option Bond Trust Certificates (Series 2022-XL0272) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 2.020%, 12/1/2022 | 3,000,000 | |
5,500,000 | New York State HFA (10 Barclay Street Housing LLC), (Series A) Weekly VRDNs, (Federal National Mortgage Association LOC), 1.800%, 12/7/2022 | 5,500,000 | |
3,500,000 | New York State HFA (100 Maiden Lane), (2004 Series A) Weekly VRDNs, (Federal National Mortgage Association LOC), 1.850%, 12/7/2022 | 3,500,000 | |
17,000,000 | New York State HFA (17th and 10th Associates, LLC), (Series 2009A: Related-Taconic West 17th Street) Weekly VRDNs, (Federal National Mortgage Association LOC), 1.800%, 12/7/2022 | 17,000,000 | |
83,795,000 | New York State HFA (42nd and 10th Street Associates LLC), (Series 2022-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.100%, 12/1/2022 | 83,795,000 | |
2,500,000 | New York State Power Authority (New York State Power Authority Transmission Project), (Series 2022-XF1300) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 2.020%, 12/1/2022 | 2,500,000 | |
5,475,000 | New York State Power Authority (New York State Power Authority Transmission Project), (Series 2022-YX1184) Weekly VRDNs, (GTD by Assured Guaranty Municipal Corp.)/(Barclays Bank PLC LIQ), 1.980%, 12/1/2022 | 5,475,000 | |
8,300,000 | New York State Power Authority, (Series 2), CP, (JPMorgan Chase Bank, N.A. LIQ)/(State Street Bank and Trust Co. LIQ)/(TD Bank, N.A. LIQ)/(Wells Fargo Bank, N.A. LIQ), 2.600%, Mandatory Tender 12/6/2022 | 8,300,000 | |
5,850,000 | New York State Thruway Authority, Tender Option Bond Certificates (Series 2022-XL0312) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 2.050%, 12/1/2022 | 5,850,000 | |
35,500,000 | Northport - East Northport, NY Unified Free School District TANs, 3.500%, 3/1/2023 | 35,591,502 | |
40,900,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Royal Bank of Canada LIQ), 1.950%, 12/1/2022 | 40,900,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 11,000,000 | Penn-Yan, NY Central School District BANs, 4.250%, 6/28/2023 | $ 11,073,316 | |
18,000,000 | Riverhead, NY Central School District, (Series B) TANs, 4.000%, 6/28/2023 | 18,141,749 | |
30,000,000 | Syosset, NY CSD TANs, 4.000%, 6/28/2023 | 30,236,331 | |
20,000,000 | Triborough Bridge & Tunnel Authority, NY, (Series B-2A) Weekly VRDNs, (State Street Bank and Trust Co. LOC), 2.000%, 12/7/2022 | 20,000,000 | |
10,350,000 | Troy, NY Enlarged CSD BANs, 4.000%, 6/8/2023 | 10,449,683 | |
6,000,000 | West Genesee, NY Central School District RANs, 3.500%, 12/28/2022 | 6,005,471 | |
TOTAL | 517,077,894 | ||
North Carolina— 0.3% | |||
10,000,000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health (previously Carolinas HealthCare) System), (Series 2007E) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 10,000,000 | |
Ohio— 3.8% | |||
4,000,000 | Cleveland, OH, Tender Option Bond Trust Receipts (Series 2018-XF2657) Weekly VRDNs, (Bank of America N.A. LIQ), 2.040%, 12/1/2022 | 4,000,000 | |
15,585,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2013A) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 1.860%, 12/1/2022 | 15,585,000 | |
10,750,000 | Franklin County, OH Mortgage Revenue (Trinity Healthcare Credit Group), (Series 2013OH) TOBs, 3.300%, Mandatory Tender 2/1/2023 | 10,750,000 | |
2,190,000 | Licking County, OH, Airport Facilities Improvement BANs Series 2022) BANs, 4.000%, 8/29/2023 | 2,207,984 | |
1,095,000 | Lorain County, OH, (Series B) BANs, 2.000%, 12/15/2022 | 1,095,669 | |
23,640,000 | Middletown, OH (Premier Health Partners Obligated Group), Golden Blue (Series 2017-003) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 2.050%, 12/1/2022 | 23,640,000 | |
9,200,000 | Ohio State (Capital Facilities Lease-Appropriation -Adult Correction Building Fund), (Series 2016C) Weekly VRDNs, (Ohio State LIQ), 2.000%, 12/7/2022 | 9,200,000 | |
29,145,000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series B-5), CP, 1.800%, Mandatory Tender 12/1/2022 | 29,145,000 | |
4,285,000 | Ohio State Hospital Revenue (University Hospitals Health System Inc. Obligated Group), (Series C-18) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.940%, 12/1/2022 | 4,285,000 | |
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), 2.050%, 12/1/2022 | 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), 2.100%, Optional Tender 12/1/2022 | 10,000,000 | |
TOTAL | 124,708,653 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
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), 1.950%, 12/1/2022 | $ 3,410,000 | |
Oregon— 0.3% | |||
5,000,000 | Oregon State Department of Transportation, (Series A-1), CP, (Wells Fargo Bank, N.A. LOC), 2.470%, Mandatory Tender 12/1/2022 | 5,000,000 | |
1,250,000 | Oregon State Department of Transportation, (Series A-1), CP, (Wells Fargo Bank, N.A. LOC), 3.000%, Mandatory Tender 2/1/2023 | 1,250,000 | |
3,400,000 | Oregon State Department of Transportation, (Series A-2), CP, (Bank of Montreal LOC), 3.000%, Mandatory Tender 2/1/2023 | 3,400,000 | |
TOTAL | 9,650,000 | ||
Pennsylvania— 6.2% | |||
6,400,000 | Allegheny County, PA HDA (Dialysis Clinic, Inc.), (Series 1997) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.870%, 12/1/2022 | 6,400,000 | |
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), 1.980%, 12/1/2022 | 4,490,000 | |
2,065,000 | Chester County, PA HEFA (Tel Hai Obligated Group Project), (Series of 2009) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 1.970%, 12/1/2022 | 2,065,000 | |
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), 2.100%, Optional Tender 1/3/2023 | 11,995,000 | |
23,300,000 | Pennsylvania State Higher Education Facilities Authority (University of Pennsylvania Health System), (2008 Series A) Weekly VRDNs, (Bank of America N.A. LOC), 1.840%, 12/7/2022 | 23,300,000 | |
12,605,000 | Pennsylvania State Turnpike Commission, (Series 2022-ZL0364) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 2.050%, 12/1/2022 | 12,605,000 | |
9,500,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5025) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 1.080%, 12/1/2022 | 9,500,000 | |
24,830,000 | Pennsylvania State Turnpike Commission, PUTTERs (Series 5026) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 1.080%, 12/1/2022 | 24,830,000 | |
7,180,000 | 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), 1.980%, 12/1/2022 | 7,180,000 | |
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), 2.150%, 12/1/2022 | 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), 1.980%, 12/1/2022 | 6,865,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$ 59,475,000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, (Series A of 2007) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(PNC Bank, N.A. LIQ), 1.910%, 12/1/2022 | $ 59,475,000 | |
18,700,000 | Southcentral PA, General Authority (Wellspan Health Obligated Group), (Series 2019E) Daily VRDNs, (U.S. Bank, N.A. LIQ), 1.070%, 12/1/2022 | 18,700,000 | |
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)/(Morgan Stanley Bank, N.A. LIQ), 1.980%, 12/1/2022 | 14,000,000 | |
TOTAL | 202,930,000 | ||
South Carolina— 0.4% | |||
5,530,000 | South Carolina State Public Service Authority, Tender Option Bond Trust Certificates (Series 2022-XL0313) Weekly VRDNs, (Build America Mutual Assurance INS)/(Wells Fargo Bank, N.A. LIQ), 2.020%, 12/1/2022 | 5,530,000 | |
6,670,000 | South Carolina Transportation Infrastructure Bank, Tender Option Bond Trust Receipts (Series G-109) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 2.100%, Optional Tender 4/3/2023 | 6,670,000 | |
TOTAL | 12,200,000 | ||
Tennessee— 4.7% | |||
2,300,000 | Blount County, TN Public Building Authority (Knox County, TN), (Series C-3-A) Weekly VRDNs, (Truist Bank LIQ), 2.000%, 12/1/2022 | 2,300,000 | |
23,620,000 | Johnson City, TN Health & Education Facilities Board (Ballad Health), (Series 2022B) Weekly VRDNs, (Truist Bank LOC), 1.920%, 12/1/2022 | 23,620,000 | |
3,150,000 | Metropolitan Government Nashville & Davidson County, TN HEFA (Meharry Medical College), (Series 2009) Weekly VRDNs, (Fifth Third Bank, N.A. LOC), 1.880%, 12/2/2022 | 3,150,000 | |
23,000,000 | Metropolitan Government Nashville & Davidson County, TN, (2014 Program), CPX, 2.850%, Mandatory Tender 2/1/2023 | 23,000,000 | |
7,500,000 | Sevier County, TN Public Building Authority, (Series V-B-1) Weekly VRDNs, (Truist Bank LOC), 2.000%, 12/1/2022 | 7,500,000 | |
58,800,000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008A) Daily VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 1.030%, 12/1/2022 | 58,800,000 | |
36,320,000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008B) Daily VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 1.070%, 12/1/2022 | 36,320,000 | |
TOTAL | 154,690,000 | ||
Texas— 8.0% | |||
11,005,000 | Dallas, TX, (Series A), CP, 2.350%, Mandatory Tender 12/7/2022 | 11,005,000 | |
3,485,000 | Dallas, TX, (Series A), CP, 2.800%, Mandatory Tender 12/7/2022 | 3,485,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Texas— continued | |||
$ 3,060,000 | El Paso, TX Housing Finance Corp., Mizuho 3A-7 (2022-MIZ9104) VRENs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | $ 3,060,000 | |
7,100,000 | Gulf Coast, TX IDA (Exxon Mobil Corp.), (Series 2012) Daily VRDNs, 1.000%, 12/1/2022 | 7,100,000 | |
95,000,000 | Harris County, TX Cultural Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Subseries 2009C-1), CP, 1.050%, Mandatory Tender 12/1/2022 | 95,000,000 | |
7,600,000 | Port Arthur Navigation District, TX IDC (TOTAL Petrochemicals USA, Inc.), (Series 2012B) Weekly VRDNs, (GTD by TotalEnergies SE), 1.890%, 12/7/2022 | 7,600,000 | |
10,600,000 | Port of Corpus Christi Authority of Nueces County, TX (Flint Hills Resources LLC), (Series 2002B) Daily VRDNs, 1.950%, 12/1/2022 | 10,600,000 | |
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), 1.890%, 12/7/2022 | 41,000,000 | |
20,000,000 | San Antonio, TX Electric & Gas System, (2012 Series A), CP, 2.750%, Mandatory Tender 12/8/2022 | 20,000,000 | |
6,075,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), (Series 2011C) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 6,075,000 | |
8,565,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Methodist Hospitals of Dallas), (Series 2008A) Daily VRDNs, (TD Bank, N.A. LOC), 1.000%, 12/1/2022 | 8,565,000 | |
10,000,000 | Texas State Affordable Housing Corp., Tender Option Bond Trust Receipts (Series 2022-XF3033) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 10,000,000 | |
40,000,000 | Texas State, (Veterans Bonds Series 2022) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 1.950%, 12/7/2022 | 40,000,000 | |
TOTAL | 263,490,000 | ||
Virginia— 1.6% | |||
1,700,000 | Fairfax County, VA EDA (Young Men’s Christian Association of Metropolitan Washington), (Series 2001) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo LOC), 1.970%, 12/2/2022 | 1,700,000 | |
6,500,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003D) Weekly VRDNs, 1.900%, 12/7/2022 | 6,500,000 | |
335,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), (Series 2017C) Weekly VRDNs, (Truist Bank LOC), 2.000%, 12/1/2022 | 335,000 | |
9,885,000 | Norfolk, VA EDA (Sentara Health Systems Obligation Group), (Series 2016B) Weekly VRDNs, 1.800%, 12/7/2022 | 9,885,000 | |
5,000,000 | Norfolk, VA EDA (Sentara Health Systems Obligation Group), (Series C-19) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.940%, 12/1/2022 | 5,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Virginia— continued | |||
$ 6,000,000 | Norfolk, VA EDA (Sentara Health Systems Obligation Group), (Series C-20) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 1.940%, 12/1/2022 | $ 6,000,000 | |
2,000,000 | University of Virginia (The Rectors and Visitors of), Solar Eclipse (Series 2017-0017) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 1.950%, 12/1/2022 | 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), 2.050%, 12/1/2022 | 8,585,000 | |
1,540,000 | 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), 2.050%, 12/1/2022 | 1,540,000 | |
3,600,000 | 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), 2.050%, 12/1/2022 | 3,600,000 | |
2,515,000 | 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), 2.050%, 12/1/2022 | 2,515,000 | |
3,555,000 | 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), 2.100%, Optional Tender 2/1/2023 | 3,555,000 | |
TOTAL | 51,215,000 | ||
West Virginia— 0.2% | |||
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), 1.950%, 12/1/2022 | 1,475,000 | |
5,635,000 | West Virginia State Hospital Finance Authority (Cabell Huntington Hospital), (Series 2008A) Weekly VRDNs, (Truist Bank LOC), 2.000%, 12/1/2022 | 5,635,000 | |
TOTAL | 7,110,000 | ||
Wisconsin— 2.4% | |||
4,000,000 | Fort Atkinson, WI School District BANs, 4.000%, 6/22/2023 | 4,008,400 | |
16,646,000 | Public Finance Authority, WI (Agape Meadowcreek, Inc.), Tender Option Bond Trust Floater Certificates (Series 2022-XF3026) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.120%, 12/1/2022 | 16,646,000 | |
2,790,000 | Public Finance Authority, WI (Atlantic Housing Foundation, Inc.), Mizuho 3a-7 (2022-MIZ9092) VRENs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 2,790,000 | |
31,420,000 | Public Finance Authority, WI (Bradford Preparatory School), (Series 2022-XF2997) Weekly VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 2.150%, 12/1/2022 | 31,420,000 | |
11,061,000 | Wisconsin Center District, Tender Option Bond Trust Receipts (Series 2020-XF1208) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 2.020%, 12/1/2022 | 11,061,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Wisconsin— continued | |||
$ 13,600,000 | Wisconsin State, (Series A) Weekly VRDNs, 2.000%, 12/1/2022 | $ 13,600,000 | |
TOTAL | 79,525,400 | ||
TOTAL INVESTMENT IN SECURITIES—99.4% (AT AMORTIZED COST)2 | 3,269,137,730 | ||
OTHER ASSETS AND LIABILITIES - NET—0.6%3 | 19,141,243 | ||
TOTAL NET ASSETS—100% | $3,288,278,973 |
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 | |
CDA | —Community Development Authority | |
COL | —Collateralized | |
CP | —Commercial Paper | |
CPX | —Commercial Paper Extendible | |
CSD | —Central School District | |
EDA | —Economic Development Authority | |
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 | |
PCRB | —Pollution Control Revenue Bond | |
PCRBs | —Pollution Control Revenue Bonds | |
PLC | —Public Limited Company | |
PUTTERs | —Puttable Tax-Exempt Receipts | |
RANs | —Revenue Anticipation Notes | |
TANs | —Tax Anticipation Notes | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Six Months Ended (unaudited) 11/30/2022 | Year Ended May 31, | Period Ended 5/31/20191 | Year Ended July 31, | ||||
2022 | 2021 | 2020 | 2018 | 2017 | |||
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 | 0.007 | 0.001 | 0.001 | 0.012 | 0.012 | 0.010 | 0.006 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.002 |
Total From Investment Operations | 0.007 | 0.001 | 0.001 | 0.012 | 0.012 | 0.010 | 0.008 |
Less Distributions: | |||||||
Distributions from net investment income | (0.007) | (0.001) | (0.001) | (0.012) | (0.012) | (0.010) | (0.006) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.002) |
Total Distributions | (0.007) | (0.001) | (0.001) | (0.012) | (0.012) | (0.010) | (0.008) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.70% | 0.09% | 0.06% | 1.19% | 1.22% | 1.03% | 0.77% |
Ratios to Average Net Assets: | |||||||
Net expenses4 | 0.21%5 | 0.15% | 0.21% | 0.21% | 0.21%5 | 0.21% | 0.21% |
Net investment income | 1.40%5 | 0.08% | 0.06% | 1.14% | 1.46%5 | 1.03% | 0.57% |
Expense waiver/ reimbursement6 | 0.08%5 | 0.15% | 0.09% | 0.08% | 0.09%5 | 0.09% | 0.09% |
Supplemental Data: | |||||||
Net assets, end of period (000 omitted) | $2,928,409 | $2,374,257 | $2,415,796 | $4,131,257 | $3,403,098 | $3,054,475 | $2,270,120 |
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 | 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, 2022 (unaudited)
Assets: | |
Investment in securities, at amortized cost and fair value | $3,269,137,730 |
Cash | 5,777,995 |
Income receivable | 10,498,996 |
Receivable for investments sold | 57,947,222 |
Receivable for shares sold | 17,616,669 |
Total Assets | 3,360,978,612 |
Liabilities: | |
Payable for investments purchased | 67,843,400 |
Payable for shares redeemed | 3,398,473 |
Income distribution payable | 1,403,178 |
Payable for investment adviser fee (Note 4) | 10,421 |
Payable for administrative fee (Note 4) | 7,016 |
Accrued expenses (Note 4) | 37,151 |
Total Liabilities | 72,699,639 |
Net assets for 3,288,266,380 shares outstanding | $3,288,278,973 |
Net Assets Consist of: | |
Paid-in capital | $3,288,246,897 |
Total distributable earnings (loss) | 32,076 |
Total Net Assets | $3,288,278,973 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$2,928,409,237 ÷ 2,928,397,916 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$169,954,437 ÷ 169,953,905 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$189,915,299 ÷ 189,914,559 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Six Months Ended November 30, 2022 (unaudited)
Investment Income: | |
Interest | $23,422,329 |
Expenses: | |
Investment adviser fee (Note 4) | 2,887,305 |
Administrative fee (Note 4) | 1,132,397 |
Custodian fees | 42,935 |
Transfer agent fees | 13,296 |
Directors’/Trustees’ fees (Note 4) | 7,865 |
Auditing fees | 11,851 |
Legal fees | 1,575 |
Portfolio accounting fees | 105,241 |
Other service fees (Notes 2 and 4) | 206,397 |
Share registration costs | 59,478 |
Printing and postage | 14,085 |
Miscellaneous (Note 4) | 31,796 |
TOTAL EXPENSES | 4,514,221 |
Waiver of investment adviser fee (Note 4) | (1,205,414) |
Net expenses | 3,308,807 |
Net investment income | 20,113,522 |
Net realized gain on investments | 26,809 |
Change in net assets resulting from operations | $20,140,331 |
Six Months Ended (unaudited) 11/30/2022 | Year Ended 5/31/2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $20,113,522 | $1,993,737 |
Net realized gain (loss) | 26,809 | 42,794 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 20,140,331 | 2,036,531 |
Distributions to Shareholders: | ||
Wealth Shares | (18,460,626) | (2,168,585) |
Advisor Shares | (702,220) | (27,583) |
Service Shares | (961,051) | (69,395) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (20,123,897) | (2,265,563) |
Share Transactions: | ||
Proceeds from sale of shares | 3,256,101,794 | 3,448,904,393 |
Net asset value of shares issued to shareholders in payment of distributions declared | 13,391,778 | 1,339,475 |
Cost of shares redeemed | (2,558,106,689) | (3,533,261,962) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 711,386,883 | (83,018,094) |
Change in net assets | 711,403,317 | (83,247,126) |
Net Assets: | ||
Beginning of period | 2,576,875,656 | 2,660,122,782 |
End of period | $3,288,278,973 | $2,576,875,656 |
Other Service Fees Incurred | |
Service Shares | $206,397 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Wealth Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 2,820,064 | $2,820,064 | 3,133,791 | $3,133,791 |
Shares issued to shareholders in payment of distributions declared | 12,192 | 12,192 | 1,278 | 1,278 |
Shares redeemed | (2,278,119) | (2,278,119) | (3,176,400) | (3,176,400) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 554,137 | $554,137 | (41,331) | $(41,331) |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Advisor Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 261,818 | $261,818 | 36,197 | $36,197 |
Shares issued to shareholders in payment of distributions declared | 701 | 701 | 28 | 28 |
Shares redeemed | (134,110) | (134,110) | (12,838) | (12,838) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 128,409 | $128,409 | 23,387 | $23,387 |
Six Months Ended 11/30/2022 | Year Ended 5/31/2022 | |||
Service Shares: | Shares (000’s omitted) | Amount (000’s omitted) | Shares (000’s omitted) | Amount (000’s omitted) |
Shares sold | 174,220 | $174,220 | 278,917 | $278,917 |
Shares issued to shareholders in payment of distributions declared | 499 | 499 | 34 | 34 |
Shares redeemed | (145,878) | (145,878) | (344,024) | (344,024) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 28,841 | $28,841 | (65,073) | $(65,073) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 711,387 | $711,387 | (83,017) | $(83,017) |
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 6/1/2022 | Ending Account Value 11/30/2022 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,007.00 | $1.06 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.02 | $1.07 |
1 | Expenses are equal to the Fund’s Wealth Shares annualized net expense ratio of 0.21%, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half-year period). |
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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 period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | 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 23, 2023
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 23, 2023
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date January 23, 2023