UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-05954
The Charles Schwab Family of Funds
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Jonathan de St. Paer
The Charles Schwab Family of Funds
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2022
Item 1: Report(s) to Shareholders.
Linda Klingman, Managing Director and Head of Money Market Strategies for Schwab Asset Management, leads the portfolio management teams for taxable and tax-exempt Schwab Money Funds, and has overall responsibility for all aspects of the management of the fund. Prior to joining Schwab in 1990, she was a senior money market trader with AIM Management, Inc. for five years. She has managed money market funds since 1988. |
Michael Lin, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Lin has been a portfolio manager with Schwab Asset Management since 2006, and also worked in Schwab Asset Management’s fund administration group for nearly four years, where he focused on security pricing and valuation of the Schwab Funds. Prior to joining Schwab, he was a senior trader of the taxable money market funds at American Century Investments for three years. |
Jonathan Roman, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Roman has been a portfolio manager with Schwab Asset Management since 2010 and has held a number of positions at Schwab since beginning his tenure in 2005. In 2009, he joined the portfolio management group as a trader, and prior to that he worked in portfolio operations and analytics, providing trading support to the taxable money market desk. |
Jonathan Feske, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Feske previously was responsible for credit and investment research for global banks for the Schwab Taxable Bond Funds and Schwab Money Funds. Prior to joining Schwab in 2011, Mr. Feske was a high-yield bond analyst for more than two years at Miller Tabak Roberts Securities, a boutique corporate bond broker-dealer. He covered both U.S. and emerging market credits, focusing on distressed situations in various industrial sectors. Previously, Mr. Feske was employed in the securities industry as an equity trader for three years. |
Karim Menoufy, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Menoufy has been a portfolio manager with Schwab Asset Management since 2013, when he started as an associate portfolio manager and was promoted to portfolio manager in 2020. He held several positions prior to that supporting the taxable and tax-exempt money funds during his tenure at the firm. Before joining Schwab in 2007, he spent several years as a mortgage specialist at JPMorgan Chase and an equity plan administrator for Delegata Corporation. |
Weighted Average Maturity2 | 15 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab Value Advantage Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWVXX | SNAXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 1.24% | 1.38% |
Seven-Day Yield (without waivers)3 | 1.23% | 1.38% |
Seven-Day Effective Yield (with waivers)3 | 1.24% | 1.39% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 4. |
EXPENSE RATIO (ANNUALIZED)1,2 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/223 | |
Schwab Value Advantage Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.26% | $1,000.00 | $1,001.30 | $1.29 |
Hypothetical 5% Return | 0.26% | $1,000.00 | $1,023.51 | $1.30 |
Ultra Shares | ||||
Actual Return | 0.17% | $1,000.00 | $1,001.80 | $0.84 |
Hypothetical 5% Return | 0.17% | $1,000.00 | $1,023.95 | $0.85 |
1 | Based on the most recent six-month expense ratio. |
2 | Expense ratio (annualized) reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
3 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.00 2 | 0.00 2 | 0.00 2 | 0.02 | 0.02 | 0.01 |
Net realized and unrealized gains (losses) | 0.00 2 | 0.00 2 | 0.00 2 | 0.00 2 | (0.00) 2 | — |
Total from investment operations | 0.00 2 | 0.00 2 | 0.00 2 | 0.02 | 0.02 | 0.01 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 2 | (0.00) 2,3 | (0.00) 2 | (0.02) | (0.02) | (0.01) |
Distributions from net realized gains | — | (0.00) 2 | (0.00) 2 | (0.00) 2 | — | — |
Total distributions | (0.00) 2 | (0.00) 2 | (0.00) 2 | (0.02) | (0.02) | (0.01) |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.13% 4 | 0.04% 3 | 0.44% | 2.07% | 1.79% | 0.81% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.26% 5,6 | 0.11% 6 | 0.28% 6,7 | 0.34% | 0.34% | 0.39% 8 |
Gross operating expenses | 0.35% 5 | 0.35% | 0.41% | 0.42% | 0.44% | 0.54% |
Net investment income (loss) | 0.28% 5 | 0.04% | 0.47% | 2.02% | 1.87% | 0.84% |
Net assets, end of period (x 1,000,000) | $47,190 | $42,245 | $56,419 | $74,972 | $47,721 | $14,955 |
* | Unaudited. |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
4 | Not annualized. |
5 | Annualized. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
7 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
8 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.01 | 0.02 | 0.02 | 0.01 |
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | (0.00) 3 | — |
Total from investment operations | 0.00 3 | 0.00 3 | 0.01 | 0.02 | 0.02 | 0.01 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3,4 | (0.01) | (0.02) | (0.02) | (0.01) |
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | (0.00) 3 | — | — |
Total distributions | (0.00) 3 | (0.00) 3 | (0.01) | (0.02) | (0.02) | (0.01) |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.18% 5 | 0.04% 4 | 0.53% | 2.22% | 1.94% | 1.00% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.17% 6,7 | 0.11% 7 | 0.18% 7,8 | 0.19% | 0.19% | 0.20% 9 |
Gross operating expenses | 0.20% 6 | 0.20% | 0.26% | 0.27% | 0.29% | 0.33% |
Net investment income (loss) | 0.36% 6 | 0.04% | 0.56% | 2.17% | 2.00% | 1.08% |
Net assets, end of period (x 1,000,000) | $32,490 | $33,078 | $37,882 | $47,497 | $29,554 | $12,612 |
* | Unaudited. |
1 | Effective November 17, 2017, the Select Shares and Premier Shares were combined into the Ultra Shares. The financial history as shown in the financial highlights is that of the former Ultra Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CERTIFICATES OF DEPOSIT 28.1% OF NET ASSETS | ||||||
BANK OF MONTREAL (CHICAGO BRANCH) (SOFR + 0.18%) | (a) | 1.69% | 07/01/22 | 08/23/22 | 298,000,000 | 298,000,000 |
BANK OF NOVA SCOTIA (HOUSTON BRANCH) | ||||||
(SOFR + 0.20%) | (a) | 1.71% | 07/01/22 | 11/22/22 | 296,000,000 | 296,000,000 |
(SOFR + 0.55%) | (a) | 2.06% | 07/01/22 | 12/23/22 | 199,000,000 | 199,000,000 |
(SOFR + 0.40%) | (a) | 1.91% | 07/01/22 | 01/09/23 | 359,500,000 | 359,500,000 |
(SOFR + 0.46%) | (a) | 1.97% | 07/01/22 | 02/13/23 | 114,000,000 | 114,000,000 |
(SOFR + 0.50%) | (a) | 2.01% | 07/01/22 | 03/13/23 | 297,000,000 | 297,000,000 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 03/16/23 | 95,000,000 | 94,999,759 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 03/24/23 | 277,000,000 | 277,000,000 |
BARCLAYS BANK PLC (NEW YORK BRANCH) | ||||||
0.35% | 07/01/22 | 960,000,000 | 960,000,000 | |||
(SOFR + 0.19%) | (a) | 1.71% | 07/01/22 | 08/17/22 | 57,000,000 | 57,000,000 |
(SOFR + 0.45%) | (a) | 1.97% | 07/01/22 | 10/07/22 | 253,000,000 | 253,000,000 |
(SOFR + 0.40%) | (a) | 1.92% | 07/01/22 | 10/13/22 | 109,000,000 | 109,000,000 |
(SOFR + 0.44%) | (a) | 1.96% | 07/01/22 | 12/01/22 | 67,000,000 | 67,000,000 |
BNP PARIBAS (NEW YORK BRANCH) | ||||||
(SOFR + 0.15%) | (a) | 1.66% | 07/01/22 | 08/01/22 | 199,000,000 | 199,000,000 |
(SOFR + 0.15%) | (a) | 1.66% | 07/01/22 | 08/08/22 | 100,000,000 | 100,000,000 |
CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH) | ||||||
0.33% | 07/05/22 | 100,000,000 | 100,000,000 | |||
(SOFR + 0.17%) | (a) | 1.68% | 07/01/22 | 08/19/22 | 461,000,000 | 461,000,000 |
0.35% | 11/04/22 | 240,000,000 | 240,000,000 | |||
2.92% | 12/20/22 | 288,000,000 | 288,000,000 | |||
CITIBANK NA | ||||||
2.30% | 09/27/22 | 482,000,000 | 482,000,000 | |||
2.30% | 09/28/22 | 500,000,000 | 500,000,000 | |||
3.02% | 01/03/23 | 395,000,000 | 395,000,000 | |||
COMMONWEALTH BANK OF AUSTRALIA (NEW YORK BRANCH) | 1.72% | 09/22/22 | 150,000,000 | 150,000,000 | ||
COOPERATIEVE RABOBANK UA (LONDON BRANCH) | 0.28% | 08/16/22 | 95,000,000 | 95,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
COOPERATIEVE RABOBANK UA (NEW YORK BRANCH) | ||||||
(SOFR + 0.16%) | (a) | 1.67% | 07/01/22 | 08/22/22 | 255,000,000 | 255,000,000 |
(SOFR + 0.16%) | (a) | 1.67% | 07/01/22 | 08/25/22 | 300,000,000 | 300,000,000 |
(SOFR + 0.16%) | (a) | 1.67% | 07/01/22 | 09/09/22 | 158,000,000 | 158,000,000 |
(SOFR + 0.17%) | (a) | 1.68% | 07/01/22 | 09/23/22 | 132,000,000 | 132,000,000 |
(SOFR + 0.35%) | (a) | 1.86% | 07/01/22 | 11/21/22 | 350,000,000 | 350,000,000 |
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW YORK BRANCH) | 1.60% | 09/01/22 | 29,800,000 | 29,800,000 | ||
CREDIT AGRICOLE SA (LONDON BRANCH) | ||||||
1.45% | 08/12/22 | 183,200,000 | 183,200,000 | |||
1.54% | 08/25/22 | 106,000,000 | 106,000,000 | |||
1.56% | 08/26/22 | 109,000,000 | 109,000,000 | |||
1.60% | 08/26/22 | 22,500,000 | 22,500,000 | |||
1.62% | 08/31/22 | 221,100,000 | 221,100,000 | |||
2.18% | 09/21/22 | 53,000,000 | 53,000,000 | |||
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK (NEW YORK BRANCH) | 1.56% | 07/07/22 | 673,000,000 | 673,000,000 | ||
LANDESBANK BADEN WUERTTEMBERG (NEW YORK BRANCH) | ||||||
1.59% | 07/05/22 | 463,000,000 | 463,000,000 | |||
1.59% | 07/06/22 | 321,000,000 | 321,000,000 | |||
MITSUBISHI UFJ TRUST AND BANKING CORP (LONDON BRANCH) | ||||||
1.34% | 07/27/22 | 70,000,000 | 69,932,484 | |||
1.55% | 08/17/22 | 86,000,000 | 86,000,000 | |||
1.60% | 08/24/22 | 8,500,000 | 8,500,000 | |||
MITSUBISHI UFJ TRUST AND BANKING CORPORATION (NEW YORK BRANCH) | ||||||
0.45% | 07/19/22 | 123,000,000 | 123,000,000 | |||
(SOFR + 0.19%) | (a) | 1.70% | 07/01/22 | 08/12/22 | 200,000,000 | 200,000,000 |
1.45% | 08/24/22 | 266,000,000 | 266,000,000 | |||
(SOFR + 0.33%) | (a) | 1.84% | 07/01/22 | 09/06/22 | 7,000,000 | 7,000,000 |
(SOFR + 0.37%) | (a) | 1.88% | 07/01/22 | 10/25/22 | 174,000,000 | 174,000,000 |
(SOFR + 0.48%) | (a) | 1.99% | 07/01/22 | 12/16/22 | 200,000,000 | 200,000,000 |
MIZUHO BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.31%) | (a) | 1.83% | 07/01/22 | 09/21/22 | 100,000,000 | 100,000,000 |
2.35% | 10/03/22 | 271,000,000 | 271,000,000 | |||
2.35% | 10/05/22 | 200,000,000 | 200,000,000 | |||
2.40% | 10/07/22 | 224,000,000 | 224,000,000 | |||
2.45% | 10/13/22 | 79,000,000 | 79,000,000 | |||
MUFG BANK LTD (LONDON BRANCH) | ||||||
1.03% | 07/01/22 | 97,000,000 | 97,000,000 | |||
1.03% | 07/07/22 | 54,000,000 | 54,000,000 | |||
1.04% | 07/08/22 | 188,000,000 | 187,962,092 | |||
1.79% | 09/09/22 | 53,000,000 | 53,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
MUFG BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.16%) | (a) | 1.68% | 07/01/22 | 07/26/22 | 185,000,000 | 185,000,000 |
0.34% | 08/23/22 | 205,000,000 | 205,000,000 | |||
(SOFR + 0.19%) | (a) | 1.71% | 07/01/22 | 08/24/22 | 263,000,000 | 263,000,000 |
(SOFR + 0.42%) | (a) | 1.94% | 07/01/22 | 11/09/22 | 147,000,000 | 147,000,000 |
(SOFR + 0.42%) | (a) | 1.94% | 07/01/22 | 11/14/22 | 166,000,000 | 166,000,000 |
(SOFR + 0.45%) | (a) | 1.97% | 07/01/22 | 11/30/22 | 74,000,000 | 74,000,000 |
NATIXIS (NEW YORK BRANCH) | 1.43% | 08/02/22 | 150,000,000 | 150,000,000 | ||
NORDEA BANK ABP (NEW YORK BRANCH) | ||||||
(SOFR + 0.15%) | (a) | 1.67% | 07/01/22 | 08/23/22 | 138,000,000 | 138,000,000 |
(SOFR + 0.16%) | (a) | 1.68% | 07/01/22 | 08/29/22 | 350,000,000 | 350,000,000 |
(SOFR + 0.37%) | (a) | 1.89% | 07/01/22 | 10/28/22 | 194,000,000 | 194,000,000 |
(SOFR + 0.40%) | (a) | 1.91% | 07/01/22 | 11/23/22 | 38,800,000 | 38,800,000 |
OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.15%) | (a) | 1.67% | 07/01/22 | 08/10/22 | 190,000,000 | 190,000,000 |
(SOFR + 0.43%) | (a) | 1.94% | 07/01/22 | 12/06/22 | 99,000,000 | 99,000,000 |
(SOFR + 0.48%) | (a) | 2.00% | 07/01/22 | 02/27/23 | 83,100,000 | 83,100,000 |
(SOFR + 0.53%) | (a) | 2.05% | 07/01/22 | 03/22/23 | 200,000,000 | 200,000,000 |
ROYAL BANK OF CANADA (NEW YORK BRANCH) | ||||||
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 12/29/22 | 263,000,000 | 263,000,000 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 01/05/23 | 495,000,000 | 495,000,000 |
(SOFR + 0.50%) | (a) | 2.01% | 07/01/22 | 03/06/23 | 238,000,000 | 238,000,000 |
(SOFR + 0.50%) | (a) | 2.01% | 07/01/22 | 03/16/23 | 344,500,000 | 344,500,000 |
SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH) | 1.06% | 07/29/22 | 100,000,000 | 100,000,000 | ||
SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH) | ||||||
0.32% | 07/05/22 | 163,000,000 | 163,000,000 | |||
(SOFR + 0.18%) | (a) | 1.69% | 07/01/22 | 08/01/22 | 323,000,000 | 323,000,000 |
(SOFR + 0.18%) | (a) | 1.69% | 07/01/22 | 08/08/22 | 188,000,000 | 188,000,000 |
(SOFR + 0.42%) | (a) | 1.93% | 07/01/22 | 11/09/22 | 370,000,000 | 370,000,000 |
(SOFR + 0.44%) | (a) | 1.95% | 07/01/22 | 11/22/22 | 44,000,000 | 44,000,000 |
(SOFR + 0.45%) | (a) | 1.96% | 07/01/22 | 11/23/22 | 177,000,000 | 177,000,000 |
(SOFR + 0.45%) | (a) | 1.96% | 07/01/22 | 12/06/22 | 180,500,000 | 180,500,000 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 12/16/22 | 48,650,000 | 48,650,000 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 12/27/22 | 46,000,000 | 46,000,000 |
SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH) | 1.65% | 09/01/22 | 208,000,000 | 207,411,415 | ||
SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.32%) | (a) | 1.83% | 07/01/22 | 08/01/22 | 338,000,000 | 338,000,000 |
(SOFR + 0.31%) | (a) | 1.82% | 07/01/22 | 08/10/22 | 285,000,000 | 285,000,000 |
(SOFR + 0.18%) | (a) | 1.69% | 07/01/22 | 08/25/22 | 206,000,000 | 206,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH) | ||||||
0.33% | 07/05/22 | 285,000,000 | 285,000,000 | |||
0.30% | 07/08/22 | 200,000,000 | 200,000,000 | |||
0.20% | 07/15/22 | 57,000,000 | 57,000,000 | |||
0.27% | 08/12/22 | 242,000,000 | 242,000,000 | |||
0.28% | 08/15/22 | 250,000,000 | 250,000,000 | |||
0.37% | 09/02/22 | 90,000,000 | 90,000,000 | |||
SWEDBANK (NEW YORK BRANCH) | 1.14% | 08/08/22 | 200,000,000 | 200,000,000 | ||
TORONTO-DOMINION BANK (NEW YORK BRANCH) | ||||||
0.21% | 08/08/22 | 82,000,000 | 82,000,000 | |||
(SOFR + 0.16%) | (a) | 1.66% | 07/01/22 | 08/08/22 | 332,000,000 | 332,000,000 |
3.00% | 12/27/22 | 134,000,000 | 134,000,000 | |||
(SOFR + 0.42%) | (a) | 1.92% | 07/01/22 | 01/04/23 | 225,000,000 | 225,000,000 |
(SOFR + 0.41%) | (a) | 1.91% | 07/01/22 | 01/17/23 | 139,100,000 | 139,100,000 |
(SOFR + 0.48%) | (a) | 2.00% | 07/01/22 | 02/21/23 | 483,000,000 | 483,000,000 |
(SOFR + 0.48%) | (a) | 2.00% | 07/01/22 | 02/24/23 | 283,000,000 | 283,000,000 |
(SOFR + 0.49%) | (a) | 2.01% | 07/01/22 | 02/27/23 | 403,000,000 | 403,000,000 |
(SOFR + 0.50%) | (a) | 2.02% | 07/01/22 | 03/02/23 | 228,800,000 | 228,800,000 |
WESTPAC BANKING CORPORATION (NEW YORK BRANCH) (SOFR + 0.36%) | (a) | 1.87% | 07/01/22 | 11/14/22 | 120,000,000 | 120,000,000 |
Total Certificates Of Deposit (Cost $22,422,355,750) | 22,422,355,750 | |||||
ASSET-BACKED COMMERCIAL PAPER 7.1% OF NET ASSETS | ||||||
ANTALIS SA | (b)(c) | 1.60% | 07/05/22 | 30,720,000 | 30,714,539 | |
BARTON CAPITAL SA | ||||||
(b)(c) | 2.31% | 09/22/22 | 21,000,000 | 20,888,642 | ||
(b)(c) | 2.47% | 10/04/22 | 52,000,000 | 51,663,806 | ||
BEDFORD ROW FUNDING CORP | ||||||
(b)(c) | 1.14% | 08/02/22 | 50,000,000 | 49,949,333 | ||
(EFFR + 0.16%) | (a)(b)(c) | 1.74% | 07/01/22 | 08/25/22 | 100,000,000 | 100,000,000 |
(EFFR + 0.12%) | (a)(b)(c) | 1.70% | 07/01/22 | 09/01/22 | 6,000,000 | 5,999,689 |
(b)(c) | 1.63% | 09/12/22 | 60,000,000 | 59,802,900 | ||
(EFFR + 0.19%) | (a)(b)(c) | 1.77% | 07/01/22 | 11/09/22 | 145,000,000 | 145,000,000 |
(EFFR + 0.19%) | (a)(b)(c) | 1.77% | 07/01/22 | 11/22/22 | 100,000,000 | 100,000,000 |
(SOFR + 0.42%) | (a)(b)(c) | 1.93% | 07/01/22 | 11/28/22 | 96,000,000 | 96,000,000 |
(SOFR + 0.45%) | (a)(b)(c) | 1.96% | 07/01/22 | 02/01/23 | 128,000,000 | 128,000,000 |
(SOFR + 0.45%) | (a)(b)(c) | 1.96% | 07/01/22 | 02/02/23 | 89,000,000 | 89,000,000 |
(SOFR + 0.48%) | (a)(b)(c) | 1.99% | 07/01/22 | 02/15/23 | 250,000,000 | 250,000,000 |
(SOFR + 0.54%) | (a)(b)(c) | 2.05% | 07/01/22 | 03/24/23 | 191,000,000 | 191,000,000 |
CAFCO LLC | ||||||
(b)(c) | 1.00% | 07/01/22 | 53,000,000 | 53,000,000 | ||
(b)(c) | 1.56% | 07/01/22 | 7,700,000 | 7,700,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CHARIOT FUNDING LLC | ||||||
(b)(c) | 0.33% | 07/05/22 | 37,000,000 | 36,998,643 | ||
(SOFR + 0.40%) | (a)(b)(c) | 1.92% | 07/01/22 | 11/07/22 | 100,000,000 | 100,000,000 |
(b)(c) | 2.02% | 11/08/22 | 150,000,000 | 148,916,667 | ||
CHARTA LLC | ||||||
(b)(c) | 1.56% | 07/01/22 | 7,300,000 | 7,300,000 | ||
(b)(c) | 1.00% | 07/13/22 | 90,000,000 | 89,970,000 | ||
COLLATERALIZED COMMERCIAL PAPER V CO LLC | ||||||
(c) | 1.20% | 07/15/22 | 90,000,000 | 89,958,000 | ||
(c) | 0.47% | 07/20/22 | 31,000,000 | 30,992,310 | ||
(c) | 1.33% | 09/01/22 | 148,000,000 | 147,663,547 | ||
(c) | 1.49% | 09/26/22 | 91,000,000 | 90,674,523 | ||
(SOFR + 0.49%) | (a)(c) | 2.00% | 07/01/22 | 10/05/22 | 248,000,000 | 248,000,000 |
(SOFR + 0.35%) | (a)(c) | 1.86% | 07/01/22 | 10/19/22 | 92,000,000 | 92,000,000 |
(SOFR + 0.45%) | (a)(c) | 1.96% | 07/01/22 | 12/06/22 | 194,000,000 | 194,000,000 |
(SOFR + 0.44%) | (a)(c) | 1.95% | 07/01/22 | 12/12/22 | 77,000,000 | 77,000,000 |
(SOFR + 0.44%) | (a)(c) | 1.95% | 07/01/22 | 12/14/22 | 215,000,000 | 215,000,000 |
CRC FUNDING LLC | (b)(c) | 1.56% | 07/01/22 | 3,800,000 | 3,800,000 | |
GOTHAM FUNDING CORP | (b)(c) | 1.30% | 08/03/22 | 400,000,000 | 399,523,333 | |
LMA AMERICAS LLC | ||||||
(b)(c) | 1.33% | 08/08/22 | 150,000,000 | 149,791,000 | ||
(b)(c) | 1.33% | 08/09/22 | 103,500,000 | 103,351,995 | ||
(b)(c) | 1.48% | 08/19/22 | 66,000,000 | 65,867,945 | ||
(b)(c) | 1.49% | 08/22/22 | 50,000,000 | 49,893,111 | ||
(b)(c) | 1.81% | 09/15/22 | 66,000,000 | 65,749,200 | ||
(b)(c) | 2.52% | 10/04/22 | 27,000,000 | 26,821,875 | ||
MANHATTAN ASSET FUNDING COMPANY LLC | ||||||
(SOFR + 0.18%) | (a)(b)(c) | 1.69% | 07/01/22 | 08/17/22 | 99,000,000 | 99,000,000 |
(SOFR + 0.43%) | (a)(b)(c) | 1.94% | 07/01/22 | 12/01/22 | 27,000,000 | 27,000,000 |
MATCHPOINT FINANCE PLC | (b)(c) | 1.00% | 07/01/22 | 58,000,000 | 58,000,000 | |
OLD LINE FUNDING LLC | ||||||
(b)(c) | 1.14% | 07/27/22 | 50,000,000 | 49,958,833 | ||
(b)(c) | 1.63% | 09/12/22 | 60,000,000 | 59,802,900 | ||
(b)(c) | 1.91% | 09/13/22 | 92,000,000 | 91,640,689 | ||
(b)(c) | 1.93% | 09/16/22 | 49,000,000 | 48,798,773 | ||
PRICOA SHORT TERM FUNDING LLC | ||||||
(b)(c) | 1.05% | 08/05/22 | 48,000,000 | 47,951,000 | ||
(b)(c) | 2.37% | 10/07/22 | 25,000,000 | 24,840,070 | ||
RIDGEFIELD FUNDING COMPANY LLC | ||||||
(b)(c) | 1.00% | 07/11/22 | 51,000,000 | 50,985,833 | ||
(b)(c) | 1.30% | 08/03/22 | 99,000,000 | 98,882,025 | ||
(b)(c) | 1.81% | 09/22/22 | 250,000,000 | 248,962,500 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
SHEFFIELD RECEIVABLES COMPANY LLC | ||||||
(b)(c) | 2.26% | 09/23/22 | 97,000,000 | 96,490,750 | ||
(b)(c) | 2.26% | 09/26/22 | 98,000,000 | 97,467,125 | ||
(b)(c) | 2.32% | 09/28/22 | 23,500,000 | 23,365,795 | ||
STARBIRD FUNDING CORP | ||||||
(SOFR + 0.17%) | (a)(b)(c) | 1.68% | 07/01/22 | 08/10/22 | 93,000,000 | 93,000,000 |
(b)(c) | 3.05% | 12/19/22 | 96,000,000 | 94,632,000 | ||
THUNDER BAY FUNDING LLC | ||||||
(b)(c) | 1.96% | 09/13/22 | 95,000,000 | 94,619,208 | ||
(b)(c) | 2.21% | 09/27/22 | 70,000,000 | 69,623,556 | ||
VERSAILLES COMMERCIAL PAPER LLC | ||||||
(b)(c) | 1.08% | 07/07/22 | 75,000,000 | 74,986,500 | ||
(b)(c) | 1.10% | 07/08/22 | 146,000,000 | 145,968,772 | ||
(b)(c) | 1.66% | 09/02/22 | 100,000,000 | 99,711,250 | ||
(b)(c) | 1.66% | 09/07/22 | 38,000,000 | 37,881,567 | ||
Total Asset-Backed Commercial Paper (Cost $5,645,560,204) | 5,645,560,204 | |||||
FINANCIAL COMPANY COMMERCIAL PAPER 19.5% OF NET ASSETS | ||||||
ANZ NEW ZEALAND INTL LTD (LONDON BRANCH) | (b)(c) | 1.66% | 09/14/22 | 88,000,000 | 87,697,500 | |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD | ||||||
(b) | 0.44% | 07/20/22 | 210,000,000 | 209,951,233 | ||
(SOFR + 0.15%) | (a)(b) | 1.66% | 07/01/22 | 08/18/22 | 100,000,000 | 100,000,000 |
(b) | 1.73% | 09/19/22 | 295,000,000 | 293,872,445 | ||
(b) | 2.35% | 10/11/22 | 53,000,000 | 52,650,112 | ||
(SOFR + 0.39%) | (a)(b) | 1.90% | 07/01/22 | 11/04/22 | 150,000,000 | 150,000,000 |
BANK OF MONTREAL | ||||||
(SOFR + 0.17%) | (a)(b) | 1.68% | 07/01/22 | 08/17/22 | 246,000,000 | 246,000,000 |
(SOFR + 0.36%) | (a)(b) | 1.87% | 07/01/22 | 10/06/22 | 179,000,000 | 179,000,000 |
BARCLAYS BANK UK PLC | ||||||
(b) | 1.60% | 07/01/22 | 193,000,000 | 193,000,000 | ||
(b) | 1.60% | 07/05/22 | 242,000,000 | 241,956,978 | ||
(b) | 1.60% | 07/06/22 | 48,000,000 | 47,989,333 | ||
(b) | 1.60% | 07/07/22 | 140,000,000 | 139,962,667 | ||
BAYERISCHE LANDESBANK (NEW YORK BRANCH) | ||||||
1.58% | 07/07/22 | 291,000,000 | 290,923,370 | |||
1.58% | 07/08/22 | 484,000,000 | 483,851,305 | |||
BNP PARIBAS SA (SOFR + 0.41%) | (a)(b) | 1.92% | 07/01/22 | 11/28/22 | 57,000,000 | 57,000,000 |
BOFA SECURITIES INC | ||||||
(b) | 2.21% | 09/21/22 | 140,000,000 | 139,298,444 | ||
(SOFR + 0.40%) | (a)(b) | 1.91% | 07/01/22 | 11/16/22 | 240,000,000 | 240,000,000 |
(SOFR + 0.46%) | (a)(b) | 1.97% | 07/01/22 | 02/10/23 | 290,000,000 | 290,000,000 |
(SOFR + 0.46%) | (a)(b) | 1.97% | 07/01/22 | 02/23/23 | 196,000,000 | 196,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
BPCE SA | ||||||
(SOFR + 0.30%) | (a)(b) | 1.81% | 07/01/22 | 08/01/22 | 350,000,000 | 350,000,000 |
(b) | 1.45% | 08/04/22 | 38,000,000 | 37,948,320 | ||
(b) | 1.75% | 09/08/22 | 184,000,000 | 183,386,360 | ||
CITIGROUP GLOBAL MARKETS INC | ||||||
(b) | 0.42% | 07/13/22 | 380,000,000 | 379,946,800 | ||
(b) | 1.34% | 09/01/22 | 95,000,000 | 94,782,397 | ||
(b) | 1.49% | 10/03/22 | 150,000,000 | 149,420,333 | ||
(b) | 1.49% | 10/04/22 | 126,000,000 | 125,507,900 | ||
DBS BANK LTD | ||||||
(b) | 1.00% | 07/18/22 | 245,000,000 | 244,884,306 | ||
(b) | 1.00% | 07/19/22 | 47,000,000 | 46,976,500 | ||
(b) | 2.31% | 09/30/22 | 487,000,000 | 484,168,636 | ||
DNB BANK ASA | (b) | 0.34% | 07/06/22 | 87,500,000 | 87,495,868 | |
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK FRANKFURT AM MAIN | (b) | 1.03% | 07/13/22 | 116,000,000 | 115,960,173 | |
FEDERATION DES CAISSES DESJARDINS DU QUEBEC | ||||||
(b) | 1.58% | 07/05/22 | 48,000,000 | 47,991,600 | ||
(b) | 2.20% | 09/21/22 | 200,000,000 | 199,002,333 | ||
JP MORGAN SECURITIES LLC (SOFR + 0.41%) | (a)(b) | 1.93% | 07/01/22 | 11/28/22 | 192,000,000 | 192,000,000 |
MACQUARIE BANK LTD | ||||||
(b) | 1.55% | 08/17/22 | 183,000,000 | 182,632,068 | ||
(SOFR + 0.30%) | (a)(b) | 1.82% | 07/01/22 | 08/22/22 | 331,000,000 | 331,000,000 |
(SOFR + 0.35%) | (a)(b) | 1.87% | 07/01/22 | 10/12/22 | 270,900,000 | 270,900,000 |
MITSUBISHI UFJ TRUST AND BANKING CORP (SINGAPORE BRANCH) | ||||||
(b) | 1.51% | 08/12/22 | 35,000,000 | 34,938,750 | ||
(b) | 1.56% | 08/19/22 | 40,600,000 | 40,514,345 | ||
MITSUBISHI UFJ TRUST AND BANKING CORPORATION (NEW YORK BRANCH) | (b) | 1.03% | 07/20/22 | 64,000,000 | 63,965,209 | |
MIZUHO BANK LTD (SINGAPORE BRANCH) | ||||||
(b) | 1.51% | 08/03/22 | 98,000,000 | 97,865,250 | ||
(b) | 1.22% | 08/04/22 | 144,000,000 | 143,834,080 | ||
(b) | 1.48% | 08/18/22 | 100,000,000 | 99,804,000 | ||
(b) | 1.48% | 08/19/22 | 298,000,000 | 297,403,752 | ||
(b) | 1.51% | 08/23/22 | 25,000,000 | 24,944,792 | ||
(b) | 1.61% | 09/06/22 | 15,000,000 | 14,955,194 | ||
NATIONAL AUSTRALIA BANK LTD | ||||||
(SOFR + 0.17%) | (a)(b) | 1.68% | 07/01/22 | 07/25/22 | 110,000,000 | 110,000,000 |
(SOFR + 0.16%) | (a)(b) | 1.67% | 07/01/22 | 09/01/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.33%) | (a)(b) | 1.84% | 07/01/22 | 10/07/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.36%) | (a)(b) | 1.87% | 07/01/22 | 10/27/22 | 300,000,000 | 300,000,000 |
(SOFR + 0.38%) | (a)(b) | 1.89% | 07/01/22 | 11/04/22 | 296,000,000 | 296,000,000 |
(SOFR + 0.38%) | (a)(b) | 1.89% | 07/01/22 | 11/07/22 | 195,000,000 | 195,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
NATIONAL BANK OF CANADA | ||||||
(SOFR + 0.16%) | (a)(b) | 1.67% | 07/01/22 | 08/04/22 | 52,000,000 | 52,000,000 |
(SOFR + 0.17%) | (a)(b) | 1.68% | 07/01/22 | 08/30/22 | 165,000,000 | 165,000,000 |
OVERSEA-CHINESE BANKING CORPORATION LTD (SOFR + 0.48%) | (a)(b) | 2.00% | 07/01/22 | 12/23/22 | 55,000,000 | 55,000,000 |
ROYAL BANK OF CANADA | ||||||
(b) | 0.33% | 07/05/22 | 200,000,000 | 199,992,667 | ||
(SOFR + 0.18%) | (a)(b) | 1.69% | 07/01/22 | 08/23/22 | 59,000,000 | 59,000,000 |
SANTANDER UK PLC | ||||||
1.50% | 08/18/22 | 283,000,000 | 282,437,773 | |||
1.65% | 09/07/22 | 389,000,000 | 387,794,964 | |||
2.30% | 10/04/22 | 78,000,000 | 77,530,700 | |||
SKANDINAVISKA ENSKILDA BANKEN AB | ||||||
(b) | 0.33% | 07/05/22 | 219,000,000 | 218,991,970 | ||
(b) | 0.28% | 08/08/22 | 290,000,000 | 289,914,289 | ||
(b) | 0.28% | 08/12/22 | 206,000,000 | 205,932,707 | ||
(SOFR + 0.16%) | (a)(b) | 1.68% | 07/01/22 | 08/15/22 | 97,000,000 | 97,000,000 |
(SOFR + 0.36%) | (a)(b) | 1.88% | 07/01/22 | 10/26/22 | 61,000,000 | 61,000,000 |
(SOFR + 0.39%) | (a)(b) | 1.91% | 07/01/22 | 11/10/22 | 337,000,000 | 337,000,000 |
(SOFR + 0.40%) | (a)(b) | 1.92% | 07/01/22 | 11/17/22 | 91,000,000 | 91,000,000 |
(SOFR + 0.44%) | (a)(b) | 1.96% | 07/01/22 | 12/27/22 | 112,000,000 | 112,000,000 |
SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH) (SOFR + 0.41%) | (a)(b) | 1.93% | 07/01/22 | 11/23/22 | 27,000,000 | 27,000,000 |
SOCIETE GENERALE SA | ||||||
(b) | 1.63% | 08/31/22 | 290,000,000 | 289,201,493 | ||
(b) | 2.14% | 08/31/22 | 12,000,000 | 11,956,690 | ||
SUMITOMO MITSUI TRUST BANK LTD (SINGAPORE BRANCH) | ||||||
(b) | 1.27% | 08/04/22 | 65,000,000 | 64,922,036 | ||
(b) | 1.36% | 08/08/22 | 206,000,000 | 205,706,450 | ||
(b) | 1.84% | 09/20/22 | 154,000,000 | 153,365,905 | ||
SWEDBANK AB | ||||||
(SOFR + 0.37%) | (a) | 1.88% | 07/01/22 | 10/25/22 | 300,000,000 | 300,000,000 |
(SOFR + 0.39%) | (a) | 1.90% | 07/01/22 | 11/03/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.41%) | (a) | 1.92% | 07/01/22 | 11/14/22 | 333,000,000 | 333,000,000 |
(SOFR + 0.44%) | (a) | 1.95% | 07/01/22 | 12/20/22 | 106,000,000 | 106,000,000 |
UBS AG (LONDON BRANCH) | ||||||
(SOFR + 0.43%) | (a)(b) | 1.95% | 07/01/22 | 11/14/22 | 50,000,000 | 50,000,000 |
(SOFR + 0.46%) | (a)(b) | 1.98% | 07/01/22 | 12/16/22 | 87,000,000 | 87,000,000 |
(SOFR + 0.48%) | (a)(b) | 2.00% | 07/01/22 | 12/21/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.47%) | (a)(b) | 1.99% | 07/01/22 | 12/28/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.50%) | (a)(b) | 2.02% | 07/01/22 | 02/16/23 | 295,000,000 | 295,000,000 |
UNITED OVERSEAS BANK LTD | ||||||
(SOFR + 0.19%) | (a)(b) | 1.71% | 07/01/22 | 10/18/22 | 113,000,000 | 113,000,000 |
(SOFR + 0.19%) | (a)(b) | 1.71% | 07/01/22 | 10/25/22 | 244,000,000 | 244,000,000 |
(SOFR + 0.46%) | (a)(b) | 1.98% | 07/01/22 | 02/23/23 | 130,000,000 | 130,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
WESTPAC BANKING CORP | ||||||
(SOFR + 0.14%) | (a)(b) | 1.65% | 07/01/22 | 08/04/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.35%) | (a)(b) | 1.86% | 07/01/22 | 10/24/22 | 170,000,000 | 170,000,000 |
(SOFR + 0.36%) | (a)(b) | 1.87% | 07/01/22 | 11/14/22 | 100,000,000 | 99,999,352 |
(SOFR + 0.48%) | (a)(b) | 1.99% | 07/01/22 | 01/03/23 | 98,000,000 | 98,000,000 |
Total Financial Company Commercial Paper (Cost $15,552,129,349) | 15,552,129,349 | |||||
NON-FINANCIAL COMPANY COMMERCIAL PAPER 2.2% OF NET ASSETS | ||||||
EQUINOR ASA | (b) | 1.56% | 07/01/22 | 194,000,000 | 194,000,000 | |
TOTALENERGIES CAPITAL CANADA LTD | ||||||
(b)(c) | 1.64% | 07/05/22 | 229,000,000 | 228,958,271 | ||
(b)(c) | 1.64% | 07/06/22 | 242,000,000 | 241,944,878 | ||
(b)(c) | 1.64% | 07/07/22 | 290,000,000 | 289,920,733 | ||
TOYOTA CREDIT CANADA INC | ||||||
1.10% | 07/06/22 | 45,000,000 | 44,993,125 | |||
1.22% | 08/02/22 | 34,000,000 | 33,963,431 | |||
1.32% | 08/22/22 | 42,000,000 | 41,920,527 | |||
(SOFR + 0.35%) | (a) | 1.87% | 07/01/22 | 10/06/22 | 50,000,000 | 50,000,000 |
TOYOTA FINANCE AUSTRALIA LTD | ||||||
1.41% | 08/19/22 | 70,000,000 | 69,866,611 | |||
1.66% | 10/11/22 | 100,000,000 | 99,532,500 | |||
TOYOTA MOTOR CREDIT CORP | ||||||
(SOFR + 0.18%) | (a) | 1.70% | 07/01/22 | 08/23/22 | 150,000,000 | 150,000,000 |
(SOFR + 0.23%) | (a) | 1.75% | 07/01/22 | 11/14/22 | 100,000,000 | 100,000,000 |
TOYOTA MOTOR FINANCE (NETHERLANDS) B.V. | 1.51% | 08/12/22 | 135,000,000 | 134,763,750 | ||
UNITEDHEALTH GROUP INC | (b) | 1.56% | 07/01/22 | 97,000,000 | 97,000,000 | |
Total Non-Financial Company Commercial Paper (Cost $1,776,863,826) | 1,776,863,826 | |||||
NON-NEGOTIABLE TIME DEPOSITS 6.0% OF NET ASSETS | ||||||
ABN AMRO BANK NV | 1.58% | 07/07/22 | 365,000,000 | 365,000,000 | ||
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH) | 1.56% | 07/05/22 | 1,436,000,000 | 1,436,000,000 | ||
BANCO SANTANDER SA (NEW YORK BRANCH) | 1.58% | 07/06/22 | 784,000,000 | 784,000,000 | ||
CREDIT INDUSTRIEL ET COMMERCIAL | ||||||
1.60% | 07/05/22 | 290,000,000 | 290,000,000 | |||
1.60% | 07/06/22 | 193,000,000 | 193,000,000 | |||
DBS BANK LTD | 1.60% | 07/07/22 | 80,000,000 | 80,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
ING BANK NV | ||||||
1.59% | 07/06/22 | 1,498,000,000 | 1,498,000,000 | |||
1.59% | 07/07/22 | 145,000,000 | 145,000,000 | |||
ROYAL BANK OF CANADA | 1.57% | 07/01/22 | 2,000,000 | 2,000,000 | ||
Total Non-Negotiable Time Deposits (Cost $4,793,000,000) | 4,793,000,000 | |||||
NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT 0.3% OF NET ASSETS | ||||||
CAISSE AMORTISSEMENT DE LA DETTE SOCIALE | (b) | 1.02% | 07/13/22 | 222,000,000 | 221,924,890 | |
Total Non-U.S. Sovereign, Sub-Sovereign And Supra-National Debt (Cost $221,924,890) | 221,924,890 | |||||
VARIABLE RATE DEMAND NOTES 0.6% OF NET ASSETS | ||||||
ABAG FINANCE AUTH | ||||||
TAXABLE RB (PUBLIC POLICY INSTITUTE OF CALIFORNIA) SERIES 2001B (LOC: WELLS FARGO BANK NA) | (a)(d) | 1.65% | 07/07/22 | 17,550,000 | 17,550,000 | |
BLUE MOUNTAIN ENTERPRISES, LLC | ||||||
VARIABLE RATE DEMAND BONDS SERIES 2013 (LOC: WELLS FARGO BANK NA) | (a)(d) | 1.67% | 07/07/22 | 2,610,000 | 2,610,000 | |
CAROL ALLEN LIQUIDITY TRUST II | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2021 (LOC: COMERICA BANK) | (a)(d) | 1.67% | 07/07/22 | 26,110,000 | 26,110,000 | |
CELLMARK, INC | ||||||
TAXABLE NOTES SERIES 2018A (LOC: SWEDBANK AB) | (a)(d) | 1.64% | 07/07/22 | 48,000,000 | 48,000,000 | |
COOK CNTY | ||||||
TAXABLE GO BONDS SERIES 2004D (LOC: BARCLAYS BANK PLC) | (a)(d) | 1.58% | 07/07/22 | 29,000,000 | 29,000,000 | |
EAGLE CNTY | ||||||
RB (BC HOUSING) SERIES 1997B (LOC: WELLS FARGO BANK NA) | (a)(d) | 1.76% | 07/07/22 | 1,500,000 | 1,500,000 | |
RB (TARNES AT BC) SERIES 1999B (LOC: WELLS FARGO BANK NA) | (a)(d) | 1.76% | 07/07/22 | 2,410,000 | 2,410,000 | |
HARTFORD HEALTHCARE CORP | ||||||
TAXABLE BONDS SERIES C (LOC: JPMORGAN CHASE BANK NA) | (a)(d) | 1.61% | 07/07/22 | 49,000,000 | 49,000,000 | |
ILLINOIS HOUSING DEVELOPMENT AUTH | ||||||
HOUSING BONDS SERIES 2017A2 (LIQ: FEDERAL HOME LOAN BANKS) | (a)(d) | 1.62% | 07/07/22 | 23,800,000 | 23,800,000 | |
ILLINOIS HSG DEV AUTH 2016 | ||||||
M/F RB SERIES 2022C (LIQ: FEDERAL HOME LOAN BANKS) | (a)(d) | 1.58% | 07/07/22 | 11,785,000 | 11,785,000 | |
KNOX INDIANA | ||||||
ECONOMIC DEVELOPMENT RB (TOLL IN) SERIES 2014 (LOC: TRUIST BANK) | (a)(d) | 1.65% | 07/07/22 | 11,300,000 | 11,300,000 | |
LABCON NORTH AMERICA | ||||||
TAXABLE BONDS SERIES 2010 (LOC: BANK OF THE WEST) | (a)(d) | 1.60% | 07/07/22 | 1,005,000 | 1,005,000 | |
MACON-BIBB CNTY INDUSTRIAL AUTH | ||||||
IDRB SERIES 2015 (LOC: BANK OF AMERICA NA) | (a)(d) | 1.65% | 07/07/22 | 6,840,000 | 6,840,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
NEW VIRIDIAN EDGE | ||||||
M/F HOUSING RB (VIRIDIAN EDGE APTS) SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (a)(d) | 1.64% | 07/07/22 | 29,000,000 | 29,000,000 | |
NUVEEN CREDIT STRATEGIES INCOME FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SOCIETE GENERALE SA) | (a)(b)(d) | 1.81% | 07/07/22 | 30,000,000 | 30,000,000 | |
NUVEEN FLOATING RATE INCOME FUND | ||||||
VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(d) | 1.81% | 07/07/22 | 31,000,000 | 31,000,000 | |
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND | ||||||
VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: BARCLAYS BANK PLC) | (a)(b)(d) | 1.81% | 07/07/22 | 19,000,000 | 19,000,000 | |
SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT | ||||||
SUB WATER REFUNDING RB SERIES 2021A (LIQ: BANK OF AMERICA NA) | (a)(d) | 1.66% | 07/07/22 | 70,995,000 | 70,995,000 | |
TENDERFOOT SEASONAL HOUSING, LLC | ||||||
TAXABLE NOTES SERIES 2000B (LOC: WELLS FARGO BANK NA) | (a)(d) | 1.76% | 07/07/22 | 5,885,000 | 5,885,000 | |
TRIBOROUGH BRIDGE & TUNNEL AUTH | ||||||
GENERAL REFUNDING RB SERIES 2018E (LOC: BANK OF AMERICA NA) | (a)(d) | 1.63% | 07/07/22 | 8,000,000 | 8,000,000 | |
YAVAPAI CNTY IDA | ||||||
TAXABLE RB (DRAKE CEMENT) SERIES 2015 (LOC: BANK OF NOVA SCOTIA) | (a)(d) | 1.60% | 07/07/22 | 21,375,000 | 21,375,000 | |
Total Variable Rate Demand Notes (Cost $446,165,000) | 446,165,000 | |||||
OTHER INSTRUMENTS 0.8% OF NET ASSETS | ||||||
BANK OF AMERICA NA | ||||||
0.33% | 07/05/22 | 198,000,000 | 198,000,000 | |||
(SOFR + 0.15%) | (a) | 1.66% | 07/01/22 | 08/16/22 | 200,000,000 | 200,000,000 |
(SOFR + 0.40%) | (a) | 1.91% | 07/01/22 | 12/05/22 | 246,000,000 | 246,000,000 |
Total Other Instruments (Cost $644,000,000) | 644,000,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 35.6% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 2.9% | ||||||
BANCO SANTANDER SA | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 65,002,817 | 65,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $66,950,000, 1.50% - 5.50%, due 07/01/34 - 06/01/52) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 200,008,611 | 200,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $209,188,059, 3.88% - 11.62%, due 09/25/24 - 05/20/52) | ||||||
BOFA SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 1,350,058,125 | 1,350,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,390,500,000, 1.47% - 6.15%, due 10/01/22 - 07/01/52) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 180,007,750 | 180,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $185,053,894, 0.25% - 5.00%, due 03/15/24 - 06/01/52) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 50,002,153 | 50,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $51,500,000, 1.63% - 7.00%, due 07/01/27 - 04/20/62) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 300,012,917 | 300,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $306,783,016, 0.13% - 3.38%, due 02/15/24 - 11/20/51) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 131,005,677 | 131,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $136,245,904, 2.00% - 5.50%, due 01/01/23 - 07/01/52) | ||||||
2,276,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 26.6% | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 67,899,355 | 67,896,432 | ||
(Collateralized by U.S. Treasury Securities valued at $69,257,394, 2.88% - 3.75%, due 04/30/29 - 08/15/41) | ||||||
BNP PARIBAS SA | ||||||
Issued 05/05/22, repurchase date 07/05/22 | 0.97% | 07/05/22 | 610,000,959 | 609,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $622,200,985, 0.00% - 4.50%, due 07/15/22 - 05/15/52) | ||||||
Issued 05/11/22, repurchase date 09/12/22 | 1.36% | 07/07/22 | 701,507,333 | 700,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $717,344,742, 0.00% - 7.50%, due 07/07/22 - 05/15/51) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 19,730,849,486 | 19,730,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $19,730,849,520, 0.13% - 2.63%, due 02/28/23 - 05/15/31) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
FICC - BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 100,004,306 | 100,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $102,000,011, 0.38% - 0.50%, due 05/31/27 - 07/31/27) | ||||||
21,206,896,432 | ||||||
OTHER REPURCHASE AGREEMENTS** 6.1% | ||||||
BMO CAPITAL MARKETS CORP | ||||||
Issued 06/30/22, repurchase date 07/07/22 | 1.66% | 07/07/22 | 121,039,056 | 121,000,000 | ||
(Collateralized by U.S. Treasury Securities and common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $127,055,985, 0.00% - 7.00%, due 12/01/23 - 12/31/00) | ||||||
BNP PARIBAS SA | ||||||
Issued 06/29/22, repurchase date 07/06/22 | 1.66% | 07/06/22 | 294,094,897 | 294,000,000 | ||
(Collateralized by U.S. Treasury Securities, U.S. Government Agency Securities and common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $336,065,120, 1.38% - 14.37%, due 11/27/23 - 12/31/00) | ||||||
Issued 06/29/22, repurchase date 07/06/22 | 1.72% | 07/06/22 | 460,153,844 | 460,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $529,177,195, 0.00% - 10.50%, due 07/20/26 - 04/01/51) | ||||||
Issued 05/10/22, repurchase date 08/08/22 | 1.45% | 08/04/22 | 145,502,264 | 145,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $167,354,469, 1.58% - 7.15%, due 09/15/25 - 07/17/46) | ||||||
Issued 05/31/22, repurchase date 08/29/22 | 1.70% | 08/04/22 | 190,583,194 | 190,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $202,743,825, 0.63% - 8.63%, due 05/01/23 - 12/31/00) | ||||||
BOFA SECURITIES INC | ||||||
Issued 06/17/22, repurchase date 08/01/22 | (a) | 1.92% | 07/01/22 | 08/01/22 | 419,003,200 | 418,000,000 |
(Collateralized by U.S. Government Agency Securities and common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $480,700,001, 0.00% - 13.37%, due 06/20/23 - 01/15/69) (SOFR + 0.41%) | ||||||
Issued 06/24/22, repurchase date 09/28/22 | (a) | 2.01% | 07/01/22 | 09/28/22 | 243,297,120 | 242,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $261,360,000, 0.00%, due 01/01/49 - 12/31/00) (SOFR + 0.50%) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | ||||||
Issued 06/27/22, repurchase date 07/01/22 | 1.63% | 07/01/22 | 97,017,568 | 97,000,000 | ||
(Collateralized by U.S. Treasury Securities, U.S. Government Agency Securities and common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $100,452,106, 0.00% - 5.30%, due 10/06/22 - 07/01/52) | ||||||
Issued 06/29/22, repurchase date 07/06/22 | 1.63% | 07/06/22 | 508,161,008 | 508,000,000 | ||
(Collateralized by U.S. Treasury Securities, U.S. Government Agency Securities and common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $538,320,927, 0.13% - 16.21%, due 07/18/22 - 12/31/00) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 06/28/22, repurchase date 07/05/22 | 1.70% | 07/05/22 | 403,133,214 | 403,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $463,493,771, 0.00% - 11.50%, due 01/30/23 - 07/01/14) | ||||||
Issued 04/29/22, repurchase date 10/26/22 | (a) | 1.89% | 07/01/22 | 09/28/22 | 828,559,560 | 822,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $947,562,943, 0.00% - 8.22%, due 07/15/24 - 10/25/69) (SOFR + 0.38%) | ||||||
Issued 06/13/22, repurchase date 12/12/22 | (a) | 1.93% | 07/01/22 | 09/28/22 | 433,472,384 | 431,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $496,048,723, 1.03% - 50.60%, due 05/15/23 - 05/25/65) (SOFR + 0.42%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.67% | 07/01/22 | 24,001,113 | 24,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $25,920,081, 0.00%, due 12/31/00) | ||||||
RBC CAPITAL MARKETS LLC | ||||||
Issued 06/30/22, repurchase date 07/07/22 | 1.67% | 07/07/22 | 242,078,583 | 242,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $254,182,721, 0.52% - 10.20%, due 08/01/22 - 12/31/00) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 05/03/22, repurchase date 10/28/22 | 1.80% | 10/03/22 | 307,333,250 | 305,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $353,871,675, 0.25% - 6.44%, due 01/20/23 - 08/26/69) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 06/08/22, repurchase date 12/05/22 | 2.17% | 10/03/22 | 170,191,873 | 169,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $196,458,698, 0.00% - 7.77%, due 10/17/22 - 12/15/62) | ||||||
4,871,000,000 | ||||||
Total Repurchase Agreements (Cost $28,353,896,432) | 28,353,896,432 | |||||
Total Investments in Securities (Cost $79,855,895,451) | 79,855,895,451 |
* | Collateralized via U.S. Government Agency Securities or less frequently by higher rated U.S. Treasury Securities. |
** | Collateralized via common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations or less frequently by higher rated U.S. Government Agency Securities and/ or U.S. Treasury Securities. Securities without a stated maturity date, such as common stocks, ETFs, American depositary receipts and perpetual bonds, are represented by 12/31/00. |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $18,904,611,833 or 23.7% of net assets. |
(c) | Credit-enhanced or liquidity-enhanced. |
(d) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
AUTH — | Authority |
CNTY — | County |
DEV — | Development |
EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for overnight funds. |
FICC — | Fixed Income Clearing Corp |
GO — | General obligation |
HSG — | Housing |
IDA — | Industrial development agency/authority |
IDRB — | Industrial development revenue bond |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
M/F — | Multi-family |
RB — | Revenue bond |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by U.S. Treasury securities. |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $51,501,999,019 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 28,353,896,432 | |
Receivables: | ||
Fund shares sold | 913,369,071 | |
Interest | 40,912,773 | |
Prepaid expenses | + | 679,484 |
Total assets | 80,810,856,779 | |
Liabilities | ||
Payables: | ||
Investments bought | 854,774,674 | |
Fund shares redeemed | 223,237,092 | |
Distributions to shareholders | 39,004,906 | |
Investment adviser and administrator fees | 11,727,539 | |
Due to custodian | 94,943 | |
Accrued expenses | + | 1,903,715 |
Total liabilities | 1,130,742,869 | |
Net assets | $79,680,113,910 | |
Net Assets by Source | ||
Capital received from investors | $79,678,850,960 | |
Total distributable earnings | + | 1,262,950 |
Net assets | $79,680,113,910 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $47,189,723,075 | 47,187,288,851 | $1.00 | ||
Ultra Shares | $32,490,390,835 | 32,488,681,124 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $189,483,433 | |
Expenses | ||
Investment adviser and administrator fees | 67,269,668 | |
Shareholder service fees: | ||
Investor Shares | 30,670,058 | |
Custodian fees | 732,490 | |
Portfolio accounting fees | 456,865 | |
Registration fees | 363,372 | |
Shareholder reports | 301,991 | |
Professional fees | 101,353 | |
Independent trustees’ fees | 75,210 | |
Transfer agent fees | 631 | |
Other expenses | + | 294,103 |
Total expenses | 100,265,741 | |
Expense reduction | – | 21,904,022 |
Net expenses | – | 78,361,719 |
Net investment income | 111,121,714 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 19,783 | |
Increase in net assets resulting from operations | $111,141,497 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $111,121,714 | $29,661,168 | |
Net realized gains | + | 19,783 | 9,276 |
Increase in net assets from operations | $111,141,497 | $29,670,444 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($57,256,447) | ($17,251,715) | |
Ultra Shares | + | (52,625,733) | (12,414,827) |
Total distributions | ($109,882,180) | ($29,666,542) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 19,739,716,304 | 16,073,464,443 | |
Ultra Shares | + | 17,708,722,034 | 23,051,474,291 |
Total shares sold | 37,448,438,338 | 39,124,938,734 | |
Shares Reinvested | |||
Investor Shares | 27,891,572 | 14,038,849 | |
Ultra Shares | + | 28,534,027 | 10,043,474 |
Total shares reinvested | 56,425,599 | 24,082,323 | |
Shares Redeemed | |||
Investor Shares | (14,823,960,345) | (30,261,185,452) | |
Ultra Shares | + | (18,325,325,713) | (27,865,832,468) |
Total shares redeemed | (33,149,286,058) | (58,127,017,920) | |
Net transactions in fund shares | 4,355,577,879 | (18,977,996,863) | |
NET ASSETS | |||
Beginning of period | $75,323,276,714 | $94,301,269,675 | |
Total increase (decrease) | + | 4,356,837,196 | (18,977,992,961) |
End of period | $79,680,113,910 | $75,323,276,714 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS (ORGANIZED OCTOBER 20, 1989) | |
Schwab Government Money Fund | Schwab Retirement Government Money Fund |
Schwab U.S. Treasury Money Fund | Schwab Municipal Money Fund |
Schwab Treasury Obligations Money Fund | Schwab AMT Tax-Free Money Fund |
Schwab Value Advantage Money Fund | Schwab California Municipal Money Fund |
Schwab Variable Share Price Money Fund | Schwab New York Municipal Money Fund |
4. Affiliates and Affiliated Transactions: |
SHAREHOLDER SERVICING FEE | |
Investor Shares | 0.15% |
Ultra Shares | n/a |
Investor Shares | 0.34% |
Ultra Shares | 0.19% |
PRIOR FISCAL YEAR END DISTRIBUTIONS |
ORDINARY INCOME |
$29,666,542 |
8. Subsequent Events: |
Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
Walter W. Bettinger II | 43,824,068,459.769 | 4,913,609,626.434 |
Richard A. Wurster | 44,130,639,925.330 | 4,607,038,160.873 |
Michael J. Beer | 44,133,522,767.969 | 4,604,155,318.234 |
Robert W. Burns | 44,113,097,923.941 | 4,624,580,162.262 |
Nancy F. Heller | 44,253,687,915.276 | 4,483,990,170.927 |
David L. Mahoney | 43,236,148,053.937 | 5,501,530,032.266 |
Jane P. Moncreiff | 44,248,881,171.347 | 4,488,796,914.856 |
Kiran M. Patel | 44,063,143,583.435 | 4,674,534,502.768 |
Kimberly S. Patmore | 44,124,853,956.622 | 4,612,824,129.581 |
J. Derek Penn | 44,116,668,865.038 | 4,621,009,221.165 |
1. | the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | the Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Money Fund
Money Fund
Money Fund
Linda Klingman, Managing Director and Head of Money Market Strategies for Schwab Asset Management, leads the portfolio management teams for taxable and tax-exempt Schwab Money Funds, and has overall responsibility for all aspects of the management of the funds. Prior to joining Schwab in 1990, she was a senior money market trader with AIM Management, Inc. for five years. She has managed money market funds since 1988. |
Lynn Paschen, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining Schwab in 2011, Ms. Paschen held a number of positions at American Century Investments. She was most recently a portfolio manager and, from 2000 to 2003, worked as a fixed-income trader. She has managed money market funds since 2003. |
Nicole Perret-Gentil, Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining Schwab in 2016, Ms. Perret-Gentil worked at Freddie Mac for 15 years, most recently as a senior portfolio manager where she managed and executed trades for a fixed-income strategy. Prior to that role, she served as a portfolio manager performing fixed-income analysis, a senior research analyst for investor and dealer relations, a senior securities operations analyst in loan and securities operations, and a lead mortgage securities operations specialist. She also worked at Merrill Lynch for a year as a senior specialist in fixed-income global banking and investments. |
Weighted Average Maturity2 | 22 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab Government Money Fund | |||
Sweep Shares | Investor Shares | Ultra Shares | |
Ticker Symbol | SWGXX | SNVXX | SGUXX |
Minimum Initial Investment2 | * | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 0.99% | 1.09% | 1.24% |
Seven-Day Yield (without waivers)3 | 0.98% | 1.08% | 1.23% |
Seven-Day Effective Yield (with waivers)3 | 0.99% | 1.09% | 1.24% |
* | Subject to the eligibility terms and conditions of your Schwab account agreement. |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 4. |
Weighted Average Maturity2 | 41 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | The fund may elect to invest up to 20% of its net assets in (i) obligations that are issued by the U.S. government, its agencies or instrumentalities, including obligations that are not fully guaranteed by the U.S. Treasury and (ii) obligations that are issued by private issuers that are guaranteed as to principal or interest by the U.S. government, its agencies or instrumentalities. Please refer to the fund prospectus for further details on investment objectives, risks, charges, tax implications and expenses. |
4 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab U.S. Treasury Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SNSXX | SUTXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 0.72% | 0.87% |
Seven-Day Yield (without waivers)3 | 0.71% | 0.86% |
Seven-Day Effective Yield (with waivers)3 | 0.72% | 0.87% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 4. |
Weighted Average Maturity2 | 15 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab Treasury Obligations Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SNOXX | SCOXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 1.12% | 1.27% |
Seven-Day Yield (without waivers)3 | 1.12% | 1.27% |
Seven-Day Effective Yield (with waivers)3 | 1.13% | 1.28% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 4. |
EXPENSE RATIO (ANNUALIZED)1,2 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/223 | |
Schwab Government Money Fund | ||||
Sweep Shares | ||||
Actual Return | 0.26% | $1,000.00 | $1,000.80 | $1.29 |
Hypothetical 5% Return | 0.26% | $1,000.00 | $1,023.51 | $1.30 |
Investor Shares | ||||
Actual Return | 0.23% | $1,000.00 | $1,001.00 | $1.14 |
Hypothetical 5% Return | 0.23% | $1,000.00 | $1,023.65 | $1.15 |
Ultra Shares | ||||
Actual Return | 0.15% | $1,000.00 | $1,001.40 | $0.74 |
Hypothetical 5% Return | 0.15% | $1,000.00 | $1,024.05 | $0.75 |
Schwab U.S. Treasury Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.21% | $1,000.00 | $1,000.60 | $1.04 |
Hypothetical 5% Return | 0.21% | $1,000.00 | $1,023.75 | $1.05 |
Ultra Shares | ||||
Actual Return | 0.14% | $1,000.00 | $1,001.00 | $0.69 |
Hypothetical 5% Return | 0.14% | $1,000.00 | $1,024.10 | $0.70 |
Schwab Treasury Obligations Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.23% | $1,000.00 | $1,001.00 | $1.14 |
Hypothetical 5% Return | 0.23% | $1,000.00 | $1,023.65 | $1.15 |
Ultra Shares | ||||
Actual Return | 0.15% | $1,000.00 | $1,001.40 | $0.74 |
Hypothetical 5% Return | 0.15% | $1,000.00 | $1,024.05 | $0.75 |
1 | Based on the most recent six-month expense ratio. |
2 | Expense ratio (annualized) reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
3 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
Sweep Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.00 2 | 0.00 2 | 0.00 2 | 0.02 | 0.01 | 0.00 2 |
Net realized and unrealized gains (losses) | 0.00 2 | 0.00 2 | 0.00 2 | — | 0.00 2 | 0.00 2 |
Total from investment operations | 0.00 2 | 0.00 2 | 0.00 2 | 0.02 | 0.01 | 0.00 2 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 2 | (0.00) 2,3 | (0.00) 2 | (0.02) | (0.01) | (0.00) 2 |
Distributions from net realized gains | — | (0.00) 2 | (0.00) 2 | — | (0.00) 2 | (0.00) 2 |
Total distributions | (0.00) 2 | (0.00) 2 | (0.00) 2 | (0.02) | (0.01) | (0.00) 2 |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.08% 4 | 0.02% 3 | 0.23% | 1.65% | 1.23% | 0.26% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.26% 5,6 | 0.06% 6 | 0.30% 6,7 | 0.59% | 0.62% | 0.63% 6,8 |
Gross operating expenses | 0.45% 5 | 0.45% | 0.52% | 0.59% | 0.62% | 0.68% |
Net investment income ( loss) | 0.17% 5 | 0.02% | 0.18% | 1.64% | 1.12% | 0.25% |
Net assets, end of period (x 1,000,000) | $23,844 | $24,159 | $20,119 | $12,450 | $11,325 | $25,324 |
* | Unaudited. |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
4 | Not annualized. |
5 | Annualized. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
7 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
8 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.02 | 0.02 | 0.00 3 |
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | — | 0.00 3 | 0.00 3 |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.02 | 0.02 | 0.00 3 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3,4 | (0.00) 3 | (0.02) | (0.02) | (0.00) 3 |
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | — | (0.00) 3 | (0.00) 3 |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.02) | (0.02) | (0.00) 3 |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.10% 5 | 0.02% 4 | 0.30% | 1.90% | 1.51% | 0.50% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.23% 6,7 | 0.06% 7 | 0.27% 7,8 | 0.35% | 0.35% | 0.40% 7,9 |
Gross operating expenses | 0.35% 6 | 0.35% | 0.43% | 0.47% | 0.48% | 0.53% |
Net investment income (loss) | 0.20% 6 | 0.02% | 0.28% | 1.84% | 1.66% | 0.51% |
Net assets, end of period (x 1,000,000) | $6,692 | $6,782 | $11,980 | $13,436 | $7,871 | $1,362 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Purchased Shares was changed to Investor Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 9/24/20 1– 12/31/20 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | |||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | |||
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3,4 | (0.00) 3 | |||
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | |||
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | |||
Total return | 0.14% 5 | 0.02% 4 | 0.00% 5,6 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.15% 7,8 | 0.06% 8 | 0.13% 7,8 | |||
Gross operating expenses | 0.20% 7 | 0.20% | 0.20% 7 | |||
Net investment income (loss) | 0.31% 7 | 0.03% | 0.01% 7 | |||
Net assets, end of period (x 1,000,000) | $5,990 | $4,726 | $1,647 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Percentage was less than 0.005%. |
7 | Annualized. |
8 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. GOVERNMENT AGENCY DEBT 11.5% OF NET ASSETS | ||||||
FEDERAL FARM CREDIT BANKS FUNDING CORP | ||||||
0.07% | 07/06/22 | 23,600,000 | 23,599,771 | |||
(SOFR + 0.04%) | (a) | 1.55% | 07/01/22 | 07/08/22 | 94,500,000 | 94,499,908 |
0.07% | 07/19/22 | 56,600,000 | 56,598,019 | |||
(SOFR + 0.09%) | (a) | 1.60% | 07/01/22 | 07/25/22 | 58,200,000 | 58,199,806 |
1.85% | 08/05/22 | 5,100,000 | 5,108,620 | |||
0.07% | 08/10/22 | 5,390,000 | 5,389,964 | |||
0.09% | 08/18/22 | 37,800,000 | 37,795,464 | |||
0.11% | 08/31/22 | 34,000,000 | 33,993,663 | |||
(EFFR - 0.02%) | (a) | 1.56% | 07/01/22 | 09/08/22 | 188,500,000 | 188,500,000 |
1.70% | 09/19/22 | 4,000,000 | 4,013,750 | |||
0.99% | 10/11/22 | 23,800,000 | 23,733,915 | |||
1.01% | 10/12/22 | 38,100,000 | 37,990,992 | |||
1.03% | 10/17/22 | 47,600,000 | 47,454,344 | |||
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 10/21/22 | 118,000,000 | 118,000,000 |
0.15% | 11/16/22 | 94,600,000 | 94,592,039 | |||
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 12/28/22 | 357,000,000 | 357,079,913 |
(3 mo. US TBILL + 0.02%) | (a) | 1.78% | 07/06/22 | 05/01/23 | 117,800,000 | 117,800,000 |
(3 mo. US TBILL + 0.03%) | (a) | 1.78% | 07/06/22 | 07/13/23 | 47,100,000 | 47,100,000 |
(EFFR - 0.01%) | (a) | 1.57% | 07/01/22 | 07/21/23 | 155,300,000 | 155,299,999 |
(SOFR + 0.03%) | (a) | 1.54% | 07/01/22 | 08/28/23 | 59,000,000 | 59,000,000 |
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 11/07/23 | 42,600,000 | 42,600,000 |
(SOFR + 0.04%) | (a) | 1.55% | 07/01/22 | 11/28/23 | 33,000,000 | 33,000,000 |
(EFFR + 0.03%) | (a) | 1.61% | 07/01/22 | 12/08/23 | 26,600,000 | 26,600,000 |
(SOFR + 0.12%) | (a) | 1.63% | 07/01/22 | 12/08/23 | 47,300,000 | 47,341,290 |
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 12/13/23 | 33,100,000 | 33,100,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
FEDERAL HOME LOAN BANKS | ||||||
(SOFR + 0.01%) | (a) | 1.52% | 07/01/22 | 07/18/22 | 95,200,000 | 95,200,000 |
(SOFR + 0.01%) | (a) | 1.52% | 07/01/22 | 08/05/22 | 238,000,000 | 238,000,000 |
1.68% | 08/26/22 | 95,000,000 | 94,753,211 | |||
(SOFR + 0.01%) | (a) | 1.52% | 07/01/22 | 08/30/22 | 95,200,000 | 95,200,000 |
1.90% | 09/19/22 | 190,000,000 | 189,202,000 | |||
1.90% | 09/20/22 | 189,000,000 | 188,196,278 | |||
0.21% | 12/02/22 | 118,100,000 | 118,100,000 | |||
2.17% | 02/06/23 | 37,230,000 | 37,350,347 | |||
2.15% | 02/08/23 | 44,290,000 | 44,429,308 | |||
1.25% | 03/21/23 | 111,250,000 | 111,250,000 | |||
1.02% | 03/30/23 | 95,200,000 | 95,200,000 | |||
(b) | 1.13% | 03/30/23 | 69,000,000 | 68,989,688 | ||
(b) | 1.28% | 04/05/23 | 95,100,000 | 95,100,000 | ||
(b) | 1.60% | 05/02/23 | 95,000,000 | 95,000,000 | ||
2.00% | 05/23/23 | 95,100,000 | 95,100,000 | |||
(b) | 1.90% | 06/02/23 | 96,200,000 | 96,200,000 | ||
(b) | 2.75% | 07/14/23 | 118,900,000 | 118,900,000 | ||
FEDERAL HOME LOAN MORTGAGE CORPORATION | ||||||
(SOFR + 0.10%) | (a) | 1.61% | 07/01/22 | 08/19/22 | 230,900,000 | 230,900,000 |
(SOFR + 0.10%) | (a) | 1.61% | 07/01/22 | 09/09/22 | 131,700,000 | 131,700,000 |
(b) | 1.40% | 04/21/23 | 95,100,000 | 95,100,000 | ||
FEDERAL NATIONAL MORTGAGE ASSOCIATION | ||||||
1.38% | 09/06/22 | 10,550,000 | 10,574,619 | |||
0.25% | 05/22/23 | 105,553,000 | 103,842,528 | |||
Total U.S. Government Agency Debt (Cost $4,196,679,436) | 4,196,679,436 | |||||
U.S. TREASURY DEBT 12.8% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
0.09% | 07/14/22 | 168,300,000 | 168,294,530 | |||
0.13% | 07/31/22 | 116,000,000 | 116,004,787 | |||
(3 mo. US TBILL + 0.06%) | (a) | 1.81% | 07/01/22 | 07/31/22 | 233,400,000 | 233,399,656 |
1.88% | 07/31/22 | 123,000,000 | 123,182,281 | |||
2.00% | 07/31/22 | 140,000,000 | 140,221,847 | |||
0.11% | 08/11/22 | 107,200,000 | 107,187,181 | |||
1.50% | 08/15/22 | 450,749,800 | 451,542,573 | |||
0.13% | 08/31/22 | 346,500,000 | 346,527,320 | |||
1.63% | 08/31/22 | 261,900,000 | 262,548,445 | |||
1.88% | 08/31/22 | 105,400,000 | 105,716,592 | |||
1.50% | 09/15/22 | 382,700,000 | 383,827,148 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
0.13% | 09/30/22 | 251,500,000 | 251,523,359 | |||
1.75% | 09/30/22 | 153,000,000 | 153,633,282 | |||
1.88% | 09/30/22 | 104,300,000 | 104,750,201 | |||
0.13% | 10/31/22 | 157,500,000 | 156,865,486 | |||
(3 mo. US TBILL + 0.06%) | (a) | 1.81% | 07/01/22 | 10/31/22 | 100,000,000 | 99,998,309 |
1.63% | 11/15/22 | 129,500,000 | 130,077,552 | |||
(3 mo. US TBILL + 0.05%) | (a) | 1.81% | 07/01/22 | 01/31/23 | 447,500,000 | 447,571,959 |
2.00% | 02/15/23 | 95,100,000 | 95,648,070 | |||
0.13% | 02/28/23 | 97,000,000 | 95,910,122 | |||
2.63% | 02/28/23 | 127,700,000 | 128,327,098 | |||
0.13% | 03/31/23 | 162,000,000 | 159,514,872 | |||
2.50% | 03/31/23 | 93,400,000 | 94,008,829 | |||
0.13% | 04/30/23 | 32,000,000 | 31,451,312 | |||
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 04/30/23 | 115,200,000 | 115,208,720 |
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 07/31/23 | 95,000,000 | 95,001,562 |
(3 mo. US TBILL + 0.04%) | (a) | 1.79% | 07/01/22 | 10/31/23 | 76,800,000 | 76,798,962 |
Total U.S. Treasury Debt (Cost $4,674,742,055) | 4,674,742,055 | |||||
VARIABLE RATE DEMAND NOTES 0.6% OF NET ASSETS | ||||||
BRIDGE WF II PARKWAY CLUB LLC | ||||||
TAXABLE M/F HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.64% | 07/07/22 | 56,900,000 | 56,900,000 | |
FARR LIFE LLC | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.63% | 07/07/22 | 5,000,000 | 5,000,000 | |
GINA RISTOW BELLING 2022 | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.63% | 07/07/22 | 20,310,000 | 20,310,000 | |
NEW DUBLIN SQUARE | ||||||
TAXABLE M/F HOUSING RB (DUBLIN SQUARE) SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.64% | 07/07/22 | 42,700,000 | 42,700,000 | |
RIVERSIDE HOME LENDING | ||||||
TAXABLE S/F RENTAL HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 0.92% | �� | 07/07/22 | 77,300,000 | 77,300,000 |
Total Variable Rate Demand Notes (Cost $202,210,000) | 202,210,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 74.8% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 14.8% | ||||||
BANCO SANTANDER SA | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 31,001,343 | 31,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $31,930,000, 1.50% - 5.50%, due 07/01/34 - 06/01/52) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
BANK OF MONTREAL | ||||||
Issued 06/16/22, repurchase date 07/28/22 | 1.56% | 07/07/22 | 236,214,760 | 236,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $243,520,988, 1.63% - 5.00%, due 07/01/24 - 05/20/72) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 100,004,305 | 100,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $105,004,521, 6.72% - 7.50%, due 01/27/31 - 07/25/39) | ||||||
BOFA SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 2,000,086,111 | 2,000,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $2,060,000,001, 1.50% - 5.00%, due 07/01/43 - 06/01/52) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 210,009,042 | 210,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $216,671,592, 0.25% - 4.50%, due 01/31/23 - 06/01/52) | ||||||
GOLDMAN SACHS & CO LLC | ||||||
Issued 06/30/22, repurchase date 07/07/22 | 1.55% | 07/07/22 | 455,137,132 | 455,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $464,100,000, 2.00% - 5.50%, due 11/15/36 - 03/20/52) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 50,002,153 | 50,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $51,500,000, 3.00% - 6.00%, due 11/01/27 - 06/20/51) | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 250,010,764 | 250,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $257,500,000, 1.88% - 7.00%, due 07/15/27 - 07/15/62) | ||||||
Issued 05/16/22, repurchase date 11/10/22 | (a) | 1.66% | 07/01/22 | 10/03/22 | 477,059,933 | 474,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $488,904,050, 1.00% - 9.87%, due 09/25/24 - 09/16/58) (SOFR + 0.15%) | ||||||
Issued 06/01/22, repurchase date 12/02/22 | (a) | 1.66% | 07/01/22 | 10/03/22 | 476,710,227 | 474,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $488,701,032, 0.00% - 7.50%, due 12/15/28 - 06/16/63) (SOFR + 0.15%) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 100,004,306 | 100,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $102,655,969, 0.13% - 5.25%, due 04/15/28 - 08/15/57) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
ROYAL BANK OF CANADA | ||||||
Issued 04/29/22, repurchase date 08/01/22 | 1.04% | 07/07/22 | 959,909,613 | 958,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $989,419,645, 1.03% - 7.62%, due 02/15/24 - 01/01/60) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 61,002,643 | 61,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $63,442,749, 1.52% - 4.32%, due 06/01/32 - 06/01/52) | ||||||
5,399,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 60.0% | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 9,691,235 | 9,690,818 | ||
(Collateralized by U.S. Treasury Securities valued at $9,885,061, 0.38% - 2.00%, due 11/30/25 - 11/15/26) | ||||||
BNP PARIBAS SA | ||||||
Issued 05/05/22, repurchase date 07/05/22 | 0.97% | 07/05/22 | 291,478,291 | 291,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $297,307,880, 0.00% - 3.88%, due 11/03/22 - 02/15/51) | ||||||
Issued 05/11/22, repurchase date 09/12/22 | 1.36% | 07/07/22 | 602,294,154 | 601,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $615,891,677, 0.00% - 7.25%, due 08/15/22 - 05/15/51) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 20,985,903,521 | 20,985,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $20,985,903,586, 0.13% - 2.88%, due 11/15/22 - 05/15/31) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 40,001,722 | 40,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $40,800,009, 0.38%, due 07/31/27) | ||||||
21,926,690,818 | ||||||
Total Repurchase Agreements (Cost $27,325,690,818) | 27,325,690,818 | |||||
Total Investments in Securities (Cost $36,399,322,309) | 36,399,322,309 |
* | Collateralized via U.S. Government Agency Securities or less frequently by higher rated U.S. Treasury Securities. |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | Step up security that pays an initial coupon rate for a set period and increased coupon rates at one or more preset intervals. Rate shown is as of period end. |
(c) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for overnight funds. |
FICC — | Fixed Income Clearing Corp |
LOC — | Letter of credit |
M/F — | Multi-family |
RB — | Revenue bond |
S/F — | Single-family |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by U.S. Treasury securities. |
US TBILL — | The reference rate is the weekly auction stop for the U.S. Treasury Bill. |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $9,073,631,491 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 27,325,690,818 | |
Receivables: | ||
Fund shares sold | 181,263,545 | |
Interest | 26,417,170 | |
Prepaid expenses | + | 380,081 |
Total assets | 36,607,383,105 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 59,970,556 | |
Distributions to shareholders | 15,408,794 | |
Investment adviser and administrator fees | 5,633,458 | |
Shareholder service fees | 322,930 | |
Due to custodian | 9,990 | |
Accrued expenses | + | 631,778 |
Total liabilities | 81,977,506 | |
Net assets | $36,525,405,599 | |
Net Assets by Source | ||
Capital received from investors | $36,525,294,613 | |
Total distributable earnings | + | 110,986 |
Net assets | $36,525,405,599 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Sweep Shares | $23,844,153,213 | 23,843,934,424 | $1.00 | ||
Investor Shares | $6,691,567,036 | 6,691,422,618 | $1.00 | ||
Ultra Shares | $5,989,685,350 | 5,989,675,826 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $75,931,661 | |
Expenses | ||
Investment adviser and administrator fees | 33,192,101 | |
Shareholder service fees: | ||
Sweep Shares | 29,649,714 | |
Investor Shares | 4,764,910 | |
Registration fees | 384,879 | |
Portfolio accounting fees | 206,075 | |
Shareholder reports | 196,035 | |
Custodian fees | 185,484 | |
Professional fees | 52,872 | |
Independent trustees’ fees | 40,565 | |
Transfer agent fees | 923 | |
Other expenses | + | 126,317 |
Total expenses | 68,799,875 | |
Expense reduction | – | 26,645,021 |
Net expenses | – | 42,154,854 |
Net investment income | 33,776,807 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 47,057 | |
Increase in net assets resulting from operations | $33,823,864 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $33,776,807 | $7,727,570 | |
Net realized gains | + | 47,057 | 117,866 |
Increase in net assets from operations | $33,823,864 | $7,845,436 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Sweep Shares | ($19,979,518) | ($5,121,566) | |
Investor Shares | (6,308,120) | (1,852,305) | |
Ultra Shares | + | (7,425,240) | (860,246) |
Total distributions | ($33,712,878) | ($7,834,117) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Sweep Shares | 5,099,133,246 | 36,238,466,978 | |
Investor Shares | 4,087,615,985 | 5,161,189,251 | |
Ultra Shares | + | 4,643,966,616 | 7,375,013,859 |
Total shares sold | 13,830,715,847 | 48,774,670,088 | |
Shares Reinvested | |||
Sweep Shares | 10,340,549 | 5,049,524 | |
Investor Shares | 2,500,404 | 1,408,653 | |
Ultra Shares | + | 3,954,279 | 737,509 |
Total shares reinvested | 16,795,232 | 7,195,686 | |
Shares Redeemed | |||
Sweep Shares | (5,424,615,006) | (32,203,488,522) | |
Investor Shares | (4,180,446,041) | (10,361,209,799) | |
Ultra Shares | + | (3,384,483,925) | (4,296,794,714) |
Total shares redeemed | (12,989,544,972) | (46,861,493,035) | |
Net transactions in fund shares | 857,966,107 | 1,920,372,739 | |
NET ASSETS | |||
Beginning of period | $35,667,328,506 | $33,746,944,448 | |
Total increase | + | 858,077,093 | 1,920,384,058 |
End of period | $36,525,405,599 | $35,667,328,506 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/17/18 1– 12/31/18 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.02 | 0.02 | |
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | (0.01) 4 | |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.02 | 0.01 | |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3,5 | (0.00) 3 | (0.02) | (0.01) | |
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.00) 3 | |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.02) | (0.01) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 0.06% 6 | 0.02% 5 | 0.27% | 1.84% | 1.40% 6 | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.21% 7,8 | 0.05% 8 | 0.23% 8,9 | 0.35% | 0.35% 7 | |
Gross operating expenses | 0.35% 7 | 0.35% | 0.45% | 0.49% | 0.49% 7 | |
Net investment income (loss) | 0.11% 7 | 0.02% | 0.15% | 1.77% | 1.64% 7 | |
Net assets, end of period (x 1,000,000) | $5,830 | $7,468 | $11,297 | $7,517 | $3,414 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of fund transactions in relation to fluctuating market values. |
5 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
6 | Not annualized. |
7 | Annualized. |
8 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
9 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 9/24/20 1– 12/31/20 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | |||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | |||
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3,4 | (0.00) 3 | |||
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | |||
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | |||
Total return | 0.10% 5 | 0.02% 4 | 0.00% 5,6 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.14% 7,8 | 0.05% 8 | 0.12% 7,8 | |||
Gross operating expenses | 0.20% 7 | 0.20% | 0.21% 7 | |||
Net investment income (loss) | 0.18% 7 | 0.02% | 0.01% 7 | |||
Net assets, end of period (x 1,000,000) | $3,177 | $3,850 | $2,260 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Percentage was less than 0.005%. |
7 | Annualized. |
8 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. TREASURY DEBT 100.1% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
0.69% | 07/05/22 | 325,000,000 | 324,975,181 | |||
0.71% | 07/05/22 | 225,870,000 | 225,852,181 | |||
0.72% | 07/05/22 | 200,000,000 | 199,984,000 | |||
0.75% | 07/12/22 | 250,000,000 | 249,942,670 | |||
0.77% | 07/12/22 | 100,000,000 | 99,976,625 | |||
1.00% | 07/12/22 | 75,000,000 | 74,977,129 | |||
1.04% | 07/12/22 | 25,000,000 | 24,992,075 | |||
0.09% | 07/14/22 | 57,000,000 | 56,998,147 | |||
1.08% | 07/14/22 | 2,000 | 1,999 | |||
0.87% | 07/19/22 | 100,000,000 | 99,956,450 | |||
0.88% | 07/19/22 | 250,000,000 | 249,890,625 | |||
0.90% | 07/19/22 | 100,000,000 | 99,955,000 | |||
1.12% | 07/19/22 | 76,000,000 | 75,957,440 | |||
1.13% | 07/19/22 | 200,000,000 | 199,887,000 | |||
1.14% | 07/19/22 | 550,000,000 | 549,686,375 | |||
1.15% | 07/19/22 | 250,000,000 | 249,856,562 | |||
0.37% | 07/21/22 | 350,000,000 | 349,927,472 | |||
0.90% | 07/26/22 | 750,000,000 | 749,530,469 | |||
0.93% | 07/26/22 | 100,000,000 | 99,935,764 | |||
1.02% | 07/26/22 | 150,000,000 | 149,894,167 | |||
1.05% | 07/26/22 | 100,000,000 | 99,927,431 | |||
1.06% | 07/26/22 | 200,000,000 | 199,853,472 | |||
1.10% | 07/26/22 | 100,000,000 | 99,923,889 | |||
1.12% | 07/26/22 | 100,000,000 | 99,922,500 | |||
0.13% | 07/31/22 | 47,500,000 | 47,450,083 | |||
(3 mo. US TBILL + 0.06%) | (a) | 1.81% | 07/01/22 | 07/31/22 | 43,000,000 | 43,000,895 |
1.88% | 07/31/22 | 158,600,000 | 158,835,441 | |||
2.00% | 07/31/22 | 50,000,000 | 50,079,229 | |||
1.03% | 08/02/22 | 260,000,000 | 259,762,066 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
0.91% | 08/09/22 | 30,000,000 | 29,970,393 | |||
1.23% | 08/09/22 | 44,600,000 | 44,540,571 | |||
1.24% | 08/09/22 | 12,951,000 | 12,933,652 | |||
0.11% | 08/11/22 | 36,300,000 | 36,295,659 | |||
0.92% | 08/11/22 | 150,000,000 | 149,843,944 | |||
1.50% | 08/15/22 | 62,700,000 | 62,810,458 | |||
1.63% | 08/15/22 | 88,400,000 | 88,565,827 | |||
1.45% | 08/16/22 | 200,000,000 | 199,629,061 | |||
1.51% | 08/16/22 | 350,000,000 | 349,326,739 | |||
1.04% | 08/18/22 | 100,000,000 | 99,861,200 | |||
1.45% | 08/23/22 | 100,000,000 | 99,786,381 | |||
0.13% | 08/31/22 | 90,000,000 | 90,007,350 | |||
1.63% | 08/31/22 | 34,000,000 | 34,087,912 | |||
1.88% | 08/31/22 | 100,000,000 | 100,300,372 | |||
1.50% | 09/15/22 | 30,000,000 | 30,088,562 | |||
1.53% | 09/15/22 | 67,935,000 | 67,717,004 | |||
1.64% | 09/15/22 | 80,000,000 | 79,724,711 | |||
1.76% | 09/15/22 | 234,000,000 | 233,132,783 | |||
1.75% | 09/29/22 | 250,000,000 | 248,909,375 | |||
0.13% | 09/30/22 | 30,000,000 | 30,002,901 | |||
1.88% | 09/30/22 | 15,000,000 | 15,064,746 | |||
1.51% | 10/11/22 | 45,000,000 | 44,809,005 | |||
1.52% | 10/11/22 | 175,000,000 | 174,251,292 | |||
1.38% | 10/15/22 | 75,000,000 | 75,007,222 | |||
2.08% | 10/18/22 | 27,000,000 | 26,831,268 | |||
0.13% | 10/31/22 | 50,400,000 | 50,196,956 | |||
(3 mo. US TBILL + 0.06%) | (a) | 1.81% | 07/01/22 | 10/31/22 | 283,500,000 | 283,498,722 |
2.00% | 10/31/22 | 30,000,000 | 30,103,904 | |||
1.63% | 11/15/22 | 20,000,000 | 20,089,197 | |||
2.51% | 12/29/22 | 150,000,000 | 148,133,437 | |||
(3 mo. US TBILL + 0.05%) | (a) | 1.81% | 07/01/22 | 01/31/23 | 115,400,000 | 115,416,431 |
2.38% | 01/31/23 | 50,000,000 | 49,929,757 | |||
2.00% | 02/15/23 | 29,700,000 | 29,871,164 | |||
0.13% | 02/28/23 | 27,000,000 | 26,696,632 | |||
1.50% | 02/28/23 | 45,600,000 | 45,600,000 | |||
2.63% | 02/28/23 | 38,600,000 | 38,789,554 | |||
0.13% | 03/31/23 | 42,000,000 | 41,355,781 | |||
2.50% | 03/31/23 | 31,600,000 | 31,805,985 | |||
0.13% | 04/30/23 | 9,000,000 | 8,845,681 | |||
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 07/31/23 | 159,000,000 | 159,002,614 |
(3 mo. US TBILL + 0.04%) | (a) | 1.79% | 07/01/22 | 10/31/23 | 325,000,000 | 325,033,101 |
Total U.S. Treasury Debt (Cost $9,018,799,641) | 9,018,799,641 | |||||
Total Investments in Securities (Cost $9,018,799,641) | 9,018,799,641 |
(a) | Variable rate security; rate shown is effective rate at period end. |
US TBILL — | The reference rate is the weekly auction stop for the U.S. Treasury Bill. |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $9,018,799,641 | |
Receivables: | ||
Fund shares sold | 74,281,372 | |
Interest | 7,514,107 | |
Prepaid expenses | + | 363,296 |
Total assets | 9,100,958,416 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 89,359,366 | |
Distributions to shareholders | 2,619,629 | |
Investment adviser and administrator fees | 1,414,487 | |
Due to custodian | 9,581 | |
Accrued expenses | + | 227,273 |
Total liabilities | 93,630,336 | |
Net assets | $9,007,328,080 | |
Net Assets by Source | ||
Capital received from investors | $9,007,309,370 | |
Total distributable earnings | + | 18,710 |
Net assets | $9,007,328,080 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $5,829,855,792 | 5,829,297,497 | $1.00 | ||
Ultra Shares | $3,177,472,288 | 3,177,108,604 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $16,943,803 | |
Expenses | ||
Investment adviser and administrator fees | 9,997,766 | |
Shareholder service fees: | ||
Investor Shares | 5,225,906 | |
Registration fees | 169,349 | |
Portfolio accounting fees | 91,715 | |
Custodian fees | 65,115 | |
Professional fees | 24,245 | |
Shareholder reports | 23,042 | |
Independent trustees’ fees | 21,563 | |
Transfer agent fees | 619 | |
Other expenses | + | 44,938 |
Total expenses | 15,664,258 | |
Expense reduction | – | 5,693,576 |
Net expenses | – | 9,970,682 |
Net investment income | 6,973,121 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 18,686 | |
Increase in net assets resulting from operations | $6,991,807 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $6,973,121 | $2,442,165 | |
Net realized gains | + | 18,686 | 36,463 |
Increase in net assets from operations | $6,991,807 | $2,478,628 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($3,819,866) | ($1,801,826) | |
Ultra Shares | + | (3,153,231) | (662,132) |
Total distributions | ($6,973,097) | ($2,463,958) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 3,532,012,105 | 3,352,593,664 | |
Ultra Shares | + | 3,120,738,181 | 7,366,011,332 |
Total shares sold | 6,652,750,286 | 10,718,604,996 | |
Shares Reinvested | |||
Investor Shares | 1,478,445 | 1,270,465 | |
Ultra Shares | + | 1,568,241 | 471,471 |
Total shares reinvested | 3,046,686 | 1,741,936 | |
Shares Redeemed | |||
Investor Shares | (5,171,599,055) | (7,183,136,807) | |
Ultra Shares | + | (3,794,578,572) | (5,776,830,785) |
Total shares redeemed | (8,966,177,627) | (12,959,967,592) | |
Net transactions in fund shares | (2,310,380,655) | (2,239,620,660) | |
NET ASSETS | |||
Beginning of period | $11,317,690,025 | $13,557,296,015 | |
Total decrease | + | (2,310,361,945) | (2,239,605,990) |
End of period | $9,007,328,080 | $11,317,690,025 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.02 | 0.02 | 0.01 |
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | (0.01) 4 | 0.00 3 |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.02 | 0.01 | 0.01 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.02) | (0.01) | (0.01) |
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | (0.00) 3 | — | (0.00) 3 |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.02) | (0.01) | (0.01) |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.10% 5 | 0.01% | 0.27% | 1.89% | 1.51% | 0.58% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.23% 6,7 | 0.06% 7 | 0.30% 7,8 | 0.35% | 0.35% | 0.33% 7,9 |
Gross operating expenses | 0.35% 6 | 0.35% | 0.46% | 0.48% | 0.49% | 0.54% |
Net investment income (loss) | 0.20% 6 | 0.01% | 0.27% | 1.86% | 1.57% | 0.65% |
Net assets, end of period (x 1,000,000) | $6,300 | $5,632 | $7,573 | $10,820 | $7,545 | $3,125 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Value Advantage Shares was changed to Investor Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of fund transactions in relation to fluctuating market values. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 9/24/20 1– 12/31/20 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | |||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | |||
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | |||
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | |||
Total return | 0.14% 4 | 0.01% | 0.00% 4,5 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.15% 6,7 | 0.06% 7 | 0.16% 6,7 | |||
Gross operating expenses | 0.20% 6 | 0.20% | 0.21% 6 | |||
Net investment income (loss) | 0.32% 6 | 0.01% | 0.01% 6 | |||
Net assets, end of period (x 1,000,000) | $4,609 | $2,244 | $1,754 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Percentage was less than 0.005%. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. TREASURY DEBT 17.4% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
0.09% | 07/14/22 | 39,800,000 | 39,798,706 | |||
0.13% | 07/31/22 | 29,200,000 | 29,201,205 | |||
(3 mo. US TBILL + 0.06%) | (a) | 1.81% | 07/01/22 | 07/31/22 | 182,500,000 | 182,500,364 |
1.88% | 07/31/22 | 41,400,000 | 41,461,346 | |||
0.91% | 08/09/22 | 20,000,000 | 19,980,262 | |||
0.11% | 08/11/22 | 25,300,000 | 25,296,975 | |||
1.50% | 08/15/22 | 110,700,000 | 110,894,684 | |||
1.63% | 08/15/22 | 61,600,000 | 61,715,554 | |||
0.13% | 08/31/22 | 94,000,000 | 94,007,432 | |||
1.63% | 08/31/22 | 59,700,000 | 59,847,788 | |||
1.88% | 08/31/22 | 26,000,000 | 26,078,097 | |||
1.50% | 09/15/22 | 113,700,000 | 114,035,010 | |||
1.76% | 09/15/22 | 116,000,000 | 115,570,098 | |||
0.13% | 09/30/22 | 55,900,000 | 55,905,168 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
1.75% | 09/30/22 | 38,000,000 | 38,157,286 | |||
1.88% | 09/30/22 | 24,600,000 | 24,706,184 | |||
1.51% | 10/11/22 | 30,000,000 | 29,872,670 | |||
1.52% | 10/11/22 | 25,000,000 | 24,893,042 | |||
2.08% | 10/18/22 | 23,000,000 | 22,856,265 | |||
0.13% | 10/31/22 | 34,100,000 | 33,962,623 | |||
(3 mo. US TBILL + 0.06%) | (a) | 1.81% | 07/01/22 | 10/31/22 | 91,000,000 | 90,999,805 |
1.63% | 11/15/22 | 24,900,000 | 25,011,051 | |||
(3 mo. US TBILL + 0.05%) | (a) | 1.81% | 07/01/22 | 01/31/23 | 54,900,000 | 54,905,998 |
2.00% | 02/15/23 | 20,500,000 | 20,618,143 | |||
0.13% | 02/28/23 | 21,000,000 | 20,764,047 | |||
1.50% | 02/28/23 | 29,400,000 | 29,400,000 | |||
2.63% | 02/28/23 | 27,000,000 | 27,132,589 | |||
0.13% | 03/31/23 | 38,000,000 | 37,416,947 | |||
2.50% | 03/31/23 | 20,400,000 | 20,532,978 | |||
0.13% | 04/30/23 | 107,000,000 | 105,166,305 | |||
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 04/30/23 | 28,000,000 | 28,002,119 |
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 07/31/23 | 216,000,000 | 216,003,140 |
(3 mo. US TBILL + 0.04%) | (a) | 1.79% | 07/01/22 | 10/31/23 | 68,700,000 | 68,709,206 |
Total U.S. Treasury Debt (Cost $1,895,403,087) | 1,895,403,087 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 72.8% OF NET ASSETS | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 72.8% | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 5,417,967 | 5,417,734 | ||
(Collateralized by U.S. Treasury Securities valued at $5,526,327, 2.00%, due 11/15/26) | ||||||
BNP PARIBAS SA | ||||||
Issued 05/05/22, repurchase date 07/05/22 | 0.97% | 07/05/22 | 64,105,191 | 64,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $65,387,309, 0.38% - 7.25%, due 08/15/22 - 05/15/47) | ||||||
Issued 05/11/22, repurchase date 09/12/22 | 1.36% | 07/07/22 | 417,897,940 | 417,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $427,332,486, 0.13% - 7.25%, due 08/15/22 - 05/15/51) | ||||||
DEUTSCHE BANK AG (NEW YORK BRANCH) | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 50,002,153 | 50,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $51,002,218, 0.13% - 2.63%, due 07/15/22 - 02/15/52) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 6,410,275,986 | 6,410,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $6,410,276,066, 0.13% - 2.50%, due 11/15/22 - 05/15/31) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
JP MORGAN SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 1,000,043,056 | 1,000,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,020,000,001, 0.00% - 5.25%, due 07/31/22 - 05/15/52) | ||||||
7,946,417,734 | ||||||
Total Repurchase Agreements (Cost $7,946,417,734) | 7,946,417,734 | |||||
Total Investments in Securities (Cost $9,841,820,821) | 9,841,820,821 |
(a) | Variable rate security; rate shown is effective rate at period end. |
US TBILL — | The reference rate is the weekly auction stop for the U.S. Treasury Bill. |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $1,895,403,087 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 7,946,417,734 | |
Receivables: | ||
Fund shares sold | 1,165,450,559 | |
Interest | 6,040,772 | |
Prepaid expenses | + | 133,119 |
Total assets | 11,013,445,271 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 98,114,401 | |
Distributions to shareholders | 4,242,801 | |
Investment adviser and administrator fees | 1,316,367 | |
Due to custodian | 9,409 | |
Accrued expenses | + | 187,217 |
Total liabilities | 103,870,195 | |
Net assets | $10,909,575,076 | |
Net Assets by Source | ||
Capital received from investors | $10,909,564,591 | |
Total distributable earnings | + | 10,485 |
Net assets | $10,909,575,076 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $6,300,286,531 | 6,300,236,285 | $1.00 | ||
Ultra Shares | $4,609,288,545 | 4,609,284,445 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $17,105,846 | |
Expenses | ||
Investment adviser and administrator fees | 7,310,500 | |
Shareholder service fees: | ||
Investor Shares | 3,951,191 | |
Portfolio accounting fees | 83,076 | |
Registration fees | 79,728 | |
Custodian fees | 55,489 | |
Professional fees | 20,684 | |
Independent trustees’ fees | 18,778 | |
Shareholder reports | 18,609 | |
Transfer agent fees | 612 | |
Other expenses | + | 31,705 |
Total expenses | 11,570,372 | |
Expense reduction | – | 3,737,231 |
Net expenses | – | 7,833,141 |
Net investment income | 9,272,705 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 10,442 | |
Increase in net assets resulting from operations | $9,283,147 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $9,272,705 | $1,020,536 | |
Net realized gains | + | 10,442 | 141,307 |
Increase in net assets from operations | $9,283,147 | $1,161,843 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($5,335,626) | ($830,558) | |
Ultra Shares | + | (3,937,036) | (312,394) |
Total distributions | ($9,272,662) | ($1,142,952) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 4,279,627,309 | 4,104,127,424 | |
Ultra Shares | + | 4,832,864,570 | 5,204,907,250 |
Total shares sold | 9,112,491,879 | 9,309,034,674 | |
Shares Reinvested | |||
Investor Shares | 1,991,969 | 612,767 | |
Ultra Shares | + | 1,445,454 | 247,243 |
Total shares reinvested | 3,437,423 | 860,010 | |
Shares Redeemed | |||
Investor Shares | (3,612,957,933) | (6,045,832,432) | |
Ultra Shares | + | (2,469,147,623) | (4,714,777,107) |
Total shares redeemed | (6,082,105,556) | (10,760,609,539) | |
Net transactions in fund shares | 3,033,823,746 | (1,450,714,855) | |
NET ASSETS | |||
Beginning of period | $7,875,740,845 | $9,326,436,809 | |
Total increase (decrease) | + | 3,033,834,231 | (1,450,695,964) |
End of period | $10,909,575,076 | $7,875,740,845 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS (ORGANIZED OCTOBER 20, 1989) | |
Schwab Government Money Fund | Schwab Retirement Government Money Fund |
Schwab U.S. Treasury Money Fund | Schwab Municipal Money Fund |
Schwab Treasury Obligations Money Fund | Schwab AMT Tax-Free Money Fund |
Schwab Value Advantage Money Fund® | Schwab California Municipal Money Fund |
Schwab Variable Share Price Money Fund | Schwab New York Municipal Money Fund |
Schwab Government Money Fund | $27,325,690,818 |
Schwab Treasury Obligations Money Fund | 7,946,417,734 |
SHAREHOLDER SERVICING FEE | SWEEP ADMINISTRATION FEE | |
Schwab Government Money Fund | ||
Sweep Shares | 0.15% | 0.10% |
Investor Shares | 0.15% | n/a |
Ultra Shares | n/a | n/a |
Schwab U.S. Treasury Money Fund | ||
Investor Shares | 0.15% | n/a |
Ultra Shares | n/a | n/a |
Schwab Treasury Obligations Money Fund | ||
Investor Shares | 0.15% | n/a |
Ultra Shares | n/a | n/a |
Schwab Government Money Fund | |
Sweep Shares | 0.44% |
Investor Shares | 0.34% |
Ultra Shares | 0.19% |
Schwab U.S. Treasury Money Fund | |
Investor Shares | 0.34% |
Ultra Shares | 0.19% |
Schwab Treasury Obligations Money Fund | |
Investor Shares | 0.34% |
Ultra Shares | 0.19% |
CONTRACTUAL EXPENSE LIMITATION WAIVED AMOUNT | VOLUNTARY YIELD WAIVER/ REIMBURSEMENT AMOUNT | TOTAL WAIVED AMOUNT | |
Schwab Government Money Fund | $1,193,150 | $25,451,871 | $26,645,021 |
Schwab U.S. Treasury Money Fund | 440,586 | 5,252,990 | 5,693,576 |
Schwab Treasury Obligations Money Fund | 308,682 | 3,428,549 | 3,737,231 |
PURCHASE COST | SALE PROCEEDS | REALIZED GAINS (LOSSES) | |
Schwab Government Money Fund | $— | $523,126,211 | $0 |
Schwab U.S. Treasury Money Fund | — | — | — |
Schwab Treasury Obligations Money Fund | — | — | — |
TAX COST | |
Schwab Government Money Fund | $36,399,322,309 |
Schwab U.S. Treasury Money Fund | 9,018,799,641 |
Schwab Treasury Obligations Money Fund | 9,841,820,821 |
PRIOR FISCAL YEAR END DISTRIBUTIONS | ||
ORDINARY INCOME | LONG-TERM CAPITAL GAINS | |
Schwab Government Money Fund | $7,827,838 | $6,279 |
Schwab U.S. Treasury Money Fund | 2,442,165 | 21,793 |
Schwab Treasury Obligations Money Fund | 1,040,488 | 102,464 |
Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
Walter W. Bettinger II | 43,824,068,459.769 | 4,913,609,626.434 |
Richard A. Wurster | 44,130,639,925.330 | 4,607,038,160.873 |
Michael J. Beer | 44,133,522,767.969 | 4,604,155,318.234 |
Robert W. Burns | 44,113,097,923.941 | 4,624,580,162.262 |
Nancy F. Heller | 44,253,687,915.276 | 4,483,990,170.927 |
David L. Mahoney | 43,236,148,053.937 | 5,501,530,032.266 |
Jane P. Moncreiff | 44,248,881,171.347 | 4,488,796,914.856 |
Kiran M. Patel | 44,063,143,583.435 | 4,674,534,502.768 |
Kimberly S. Patmore | 44,124,853,956.622 | 4,612,824,129.581 |
J. Derek Penn | 44,116,668,865.038 | 4,621,009,221.165 |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Schwab AMT Tax-Free Money Fund
Linda Klingman, Managing Director and Head of Money Market Strategies for Schwab Asset Management, leads the portfolio management teams for taxable and tax-exempt Schwab Money Funds, and has overall responsibility for all aspects of the management of the funds. Prior to joining Schwab in 1990, she was a senior money market trader with AIM Management, Inc. for five years. She has managed money market funds since 1988. |
Kevin Shaughnessy, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining Schwab in 2000, Mr. Shaughnessy spent four years as a portfolio manager with Wells Capital Management, where he was responsible for managing the firm’s California municipal money fund, as well as short duration, private client assets. |
Cameron Ullyatt, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining Schwab in 2008, Mr. Ullyatt was a vice president and portfolio manager at OppenheimerFunds, where he was responsible for managing the firm’s municipal money fund assets. From 1999 to 2006, Mr. Ullyatt also worked as a credit analyst in OppenheimerFunds’ municipal bond and money market departments. |
Weighted Average Maturity2 | 12 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | Portfolio Composition is calculated using the Par Value (Face Value) of Investments and excludes cash. |
4 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab Municipal Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWTXX | SWOXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 0.66% | 0.81% |
Seven-Day Yield (without waivers)3 | 0.65% | 0.80% |
Seven-Day Effective Yield (with waivers)3 | 0.66% | 0.81% |
Seven-Day Taxable Equivalent Effective Yield3,4 | 1.11% | 1.37% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 5. |
4 | Taxable equivalent effective yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.80%. Your tax rate may be different. |
Weighted Average Maturity3 | 12 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Less than 0.05%. |
3 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
4 | Portfolio Composition is calculated using the Par Value (Face Value) of Investments and excludes cash. |
5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab AMT Tax-Free Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWWXX | SCTXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 0.64% | 0.79% |
Seven-Day Yield (without waivers)3 | 0.61% | 0.76% |
Seven-Day Effective Yield (with waivers)3 | 0.64% | 0.79% |
Seven-Day Taxable Equivalent Effective Yield3,4 | 1.08% | 1.34% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 5. |
4 | Taxable equivalent effective yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.80%. Your tax rate may be different. |
EXPENSE RATIO (ANNUALIZED)1,2 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/223 | |
Schwab Municipal Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.28% | $1,000.00 | $1,001.00 | $1.39 |
Hypothetical 5% Return | 0.28% | $1,000.00 | $1,023.41 | $1.40 |
Ultra Shares | ||||
Actual Return | 0.18% | $1,000.00 | $1,001.50 | $0.89 |
Hypothetical 5% Return | 0.18% | $1,000.00 | $1,023.90 | $0.90 |
Schwab AMT Tax-Free Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.27% | $1,000.00 | $1,001.00 | $1.34 |
Hypothetical 5% Return | 0.27% | $1,000.00 | $1,023.46 | $1.35 |
Ultra Shares | ||||
Actual Return | 0.18% | $1,000.00 | $1,001.40 | $0.89 |
Hypothetical 5% Return | 0.18% | $1,000.00 | $1,023.90 | $0.90 |
1 | Based on the most recent six-month expense ratio. |
2 | Expense ratio (annualized) reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
3 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Net realized and unrealized gains (losses) | (0.00) 3 | 0.00 3 | 0.00 3 | 0.00 3 | (0.00) 3 | 0.00 3 |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) | (0.00) 3 |
Distributions from net realized gains | — | (0.00) 3 | — | — | — | — |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) | (0.00) 3 |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.10% 4 | 0.02% | 0.35% | 1.20% | 1.15% | 0.48% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.28% 5,6 | 0.11% 6 | 0.29% 6,7 | 0.34% | 0.34% | 0.42% 8 |
Gross operating expenses | 0.35% 5 | 0.35% | 0.45% | 0.48% | 0.48% | 0.53% |
Net investment income (loss) | 0.24% 5 | 0.01% | 0.35% | 1.19% | 1.17% | 0.50% |
Net assets, end of period (x 1,000,000) | $2,468 | $1,597 | $2,041 | $2,674 | $2,735 | $822 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Value Advantage Shares was changed to Investor Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Annualized. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
7 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
8 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171,2 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.00 4 | 0.00 4 | 0.00 4 | 0.01 | 0.01 | 0.01 |
Net realized and unrealized gains (losses) | (0.00) 4 | 0.00 4 | 0.00 4 | 0.00 4 | (0.00) 4 | 0.00 4 |
Total from investment operations | 0.00 4 | 0.00 4 | 0.00 4 | 0.01 | 0.01 | 0.01 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 4 | (0.00) 4 | (0.00) 4 | (0.01) | (0.01) | (0.01) |
Distributions from net realized gains | — | (0.00) 4 | — | — | — | — |
Total distributions | (0.00) 4 | (0.00) 4 | (0.00) 4 | (0.01) | (0.01) | (0.01) |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.15% 5 | 0.02% | 0.44% | 1.35% | 1.30% | 0.67% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.18% 6,7 | 0.11% 7 | 0.19% 7,8 | 0.19% | 0.19% | 0.22% 9 |
Gross operating expenses | 0.20% 6 | 0.20% | 0.30% | 0.33% | 0.33% | 0.47% |
Net investment income (loss) | 0.35% 6 | 0.01% | 0.45% | 1.33% | 1.31% | 0.71% |
Net assets, end of period (x 1,000,000) | $10,963 | $6,405 | $9,948 | $13,010 | $12,748 | $5,832 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Premier Shares was changed to Ultra Shares. |
2 | Effective November 17, 2017, the Select Shares merged into Ultra Shares. |
3 | Calculated based on the average shares outstanding during the period. |
4 | Per-share amount was less than $0.005. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 97.8% OF NET ASSETS | ||||||
ALABAMA 1.5% | ||||||
Alabama HFA | ||||||
M/F Housing RB (Chapel Ridge Apts) Series 2005E (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.05% | 07/07/22 | 11,000,000 | 11,000,000 | |
M/F Housing Refunding RB (Hunter Ridge Apts) Series 2005F (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.05% | 07/07/22 | 10,550,000 | 10,550,000 | |
Alabama Special Care Facility Financing Auth | ||||||
RB (Ascension Health) Series 2016B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,390,000 | 2,390,000 | |
Birmingham IDB | ||||||
RB (Culton Properties) Series 2009A (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 1.05% | 07/07/22 | 1,645,000 | 1,645,000 | |
Birmingham Water Works Board | ||||||
Water Refunding RB Series 2015A (ESCROW) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.96% | 07/07/22 | 22,500,000 | 22,500,000 | |
Black Belt Energy Gas District | ||||||
Gas Prepay RB Series 2018B1 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.97% | 07/07/22 | 12,855,000 | 12,855,000 | |
Huntsville Health Care Auth | ||||||
CP | 1.18% | 07/22/22 | 23,500,000 | 23,500,000 | ||
RB Series 2020B (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 3,820,000 | 3,820,000 | |
RB Series 2020B (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 4,420,000 | 4,420,000 | |
Millport IDA | ||||||
IDRB (Steel Dust Recycling) Series 2007 (LOC: COMERICA BANK) | (a)(b) | 1.03% | 07/07/22 | 2,885,000 | 2,885,000 | |
IDRB (Steel Dust Recycling) Series 2011 (LOC: COMERICA BANK) | (a)(b) | 1.03% | 07/07/22 | 10,000,000 | 10,000,000 | |
Mobile Cnty IDA | ||||||
Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B (LOC: SWEDBANK AB) | (a)(b) | 0.99% | 07/07/22 | 35,000,000 | 35,000,000 | |
Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (LOC: NORDEA BANK ABP) | (a)(b) | 0.99% | 07/07/22 | 10,000,000 | 10,000,000 | |
Recovery Zone Facility RB (SSAB Alabama) Series 2010A (LOC: SWEDBANK AB) | (a)(b) | 0.99% | 07/07/22 | 27,640,000 | 27,640,000 | |
Mobile Solid Waste Auth | ||||||
RB (Waste Management/Chastang) Series 2003 (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.95% | 07/07/22 | 4,175,000 | 4,175,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Montgomery Downtown Redevelopment Auth | ||||||
RB (Southern Poverty Law Center) Series 2013 | (a)(b) | 0.99% | 07/07/22 | 15,000,000 | 15,000,000 | |
Troy Health Care Auth | ||||||
Lease RB (Southeast AL Rural Health Assoc) Series 2003 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.94% | 07/07/22 | 1,250,000 | 1,250,000 | |
198,630,000 | ||||||
ARIZONA 0.5% | ||||||
Arizona Health Facilities Auth | ||||||
RB (Banner Health) Series 2015C (LOC: BANK OF AMERICA NA) | (a)(b) | 0.63% | 07/01/22 | 900,000 | 900,000 | |
Arizona IDA | ||||||
Hospital Refunding RB (Phoenix Children’s Hospital) Series 2019A (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.63% | 07/01/22 | 3,000,000 | 3,000,000 | |
Maricopa Cnty IDA | ||||||
Hospital RB (HonorHealth) Series 2021C (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,500,000 | 10,500,000 | |
RB (Banner Health) Series 2017D (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,670,000 | 1,670,000 | |
RB (Banner Health) Series 2019E 2019D 2019F (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 32,470,000 | 32,470,000 | |
Solid Waste Disposal RB (Michael Pylman Dairy) Series 2005 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 6,750,000 | 6,750,000 | |
Yavapai Cnty IDA | ||||||
RB (Skanon Investments Drake Cement) Series 2010A (LOC: BANK OF NOVA SCOTIA) | (a)(b) | 0.95% | 07/07/22 | 10,715,000 | 10,715,000 | |
66,005,000 | ||||||
ARKANSAS 0.7% | ||||||
Osceola | ||||||
Solid Waste Disposal RB (Plum Point Energy) Series 2006 (LOC: GOLDMAN SACHS BANK USA) | (a)(b) | 0.92% | 07/07/22 | 100,000,000 | 100,000,000 | |
CALIFORNIA 4.5% | ||||||
Alameda Cnty IDA | ||||||
RB (Golden West Paper Converting Corp) Series 2008A (LOC: BANK OF THE WEST) | (a)(b) | 1.00% | 07/07/22 | 2,475,000 | 2,475,000 | |
California | ||||||
GO Bonds (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 14,000,000 | 14,000,000 | |
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 1.07% | 07/19/22 | 25,000,000 | 25,000,000 | ||
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 1.35% | 08/30/22 | 25,000,000 | 25,000,000 | ||
GO CP Series A3 (LOC: UBS AG) | 1.07% | 07/06/22 | 3,500,000 | 3,500,000 | ||
GO CP Series A7 (LOC: STATE STREET BANK AND TRUST COMPANY) | 0.85% | 07/06/22 | 21,000,000 | 21,000,000 | ||
California Health Facilities Financing Auth | ||||||
RB (Kaiser Permanente) Series 2006E | 0.85% | 08/09/22 | 23,320,000 | 23,320,000 | ||
RB (Kaiser Permanente) Series 2006E | 1.60% | 10/11/22 | 3,165,000 | 3,165,000 | ||
RB (Kaiser Permanente) Series 2017A2 (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,600,000 | 10,600,000 | |
California Infrastructure & Economic Development Bank | ||||||
IDRB (Kruger & Sons) Series 2002 (LOC: BANK OF THE WEST) | (a)(b) | 0.99% | 07/07/22 | 1,320,000 | 1,320,000 | |
California Pollution Control Financing Auth | ||||||
Solid Waste Disposal RB (Sierra Pacific Ind) Series 2014 (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.95% | 07/07/22 | 5,000,000 | 5,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
California Statewide Communities Development Auth | ||||||
M/F Housing RB (David Ave Apt) Series 2007WW (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.07% | 07/07/22 | 5,300,000 | 5,300,000 | |
M/F Housing RB (Imperial Park Apts) Series 2007OO (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.07% | 07/07/22 | 10,620,000 | 10,620,000 | |
RB (Kaiser Permanente) Series 2004E | 0.20% | 07/12/22 | 5,455,000 | 5,455,000 | ||
RB (Kaiser Permanente) Series 2004E | 0.21% | 07/13/22 | 710,000 | 710,000 | ||
RB (Kaiser Permanente) Series 2004E | 1.45% | 09/13/22 | 21,000,000 | 21,000,000 | ||
RB (Kaiser Permanente) Series 2004E | 1.60% | 10/11/22 | 14,000,000 | 14,000,000 | ||
RB (Kaiser Permanente) Series 2004I | 0.83% | 08/02/22 | 4,700,000 | 4,700,000 | ||
RB (Kaiser Permanente) Series 2004I | 0.26% | 08/03/22 | 3,000,000 | 2,998,322 | ||
RB (Kaiser Permanente) Series 2004I | 1.60% | 10/11/22 | 10,350,000 | 10,350,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.20% | 07/06/22 | 15,120,000 | 15,120,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.21% | 07/13/22 | 15,600,000 | 15,600,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.83% | 08/02/22 | 27,890,000 | 27,890,000 | ||
RB (Kaiser Permanente) Series 2008B | 0.31% | 08/03/22 | 4,680,000 | 4,680,000 | ||
RB (Kaiser Permanente) Series 2008C | 0.20% | 07/12/22 | 5,000,000 | 5,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 0.83% | 08/10/22 | 10,000,000 | 10,000,000 | ||
RB (Kaiser Permanente) Series 2009B1 | 0.35% | 08/04/22 | 13,000,000 | 13,000,000 | ||
RB (Kaiser Permanente) Series 2009B3 | 0.35% | 08/04/22 | 5,000,000 | 5,000,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.20% | 07/12/22 | 300,000 | 300,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.30% | 08/02/22 | 22,450,000 | 22,450,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.35% | 08/04/22 | 10,000,000 | 10,000,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.83% | 08/10/22 | 20,000,000 | 20,000,000 | ||
RB (Kaiser Permanente) Series 2009B6 | 1.62% | 10/11/22 | 36,700,000 | 36,700,000 | ||
Emeryville Successor Redevelopment Agency | ||||||
M/F Housing RB (Bay St Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.05% | 07/07/22 | 57,715,000 | 57,715,000 | |
Golden Gate Bridge & Highway District | ||||||
CP Series A (LIQ: JPMORGAN CHASE BANK NA) | 1.25% | 08/17/22 | 11,500,000 | 11,500,000 | ||
Irvine Ranch Water District | ||||||
GO Refunding Bonds Series 2011A1 (SIFMA Municipal Swap Index + 0.06%) | (a) | 0.97% | 07/07/22 | 03/01/23 | 5,000,000 | 5,000,000 |
GO Refunding Bonds Series 2011A2 (SIFMA Municipal Swap Index + 0.06%) | (a) | 0.97% | 07/07/22 | 03/01/23 | 5,000,000 | 5,000,000 |
Jurupa USD | ||||||
GO Bonds Series 2017B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,205,000 | 3,205,000 | |
Livermore Valley Joint USD | ||||||
GO Bonds Series 2019 (LIQ: DEUTSCHE BANK AG) | (a)(c)(d) | 0.99% | 07/07/22 | 1,600,000 | 1,600,000 | |
Lodi USD | ||||||
GO Bonds Series 2021 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,085,000 | 3,085,000 | |
Long Beach USD | ||||||
GO Bonds Series 2016A&2008E (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
GO Bonds Series 2016B | 5.00% | 08/01/22 | 620,000 | 622,503 | ||
Los Angeles | ||||||
Wastewater System Refunding RB Series 2015C & D (LIQ: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.15%) | (a)(c)(d) | 1.06% | 07/07/22 | 12/01/22 | 7,475,000 | 7,475,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Los Angeles Cnty Metropolitan Transportation Auth | ||||||
Sr Sales Tax RB Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Los Angeles Dept of Airports | ||||||
Sub RB Series 2016A, 2017A, 2018A, 2018C, 2019F (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.97% | 07/07/22 | 1,030,000 | 1,030,000 | |
Los Angeles Dept of Water & Power | ||||||
Water System RB Series 2014A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
Los Angeles USD | ||||||
GO Refunding Bonds Series 2017A | 5.00% | 07/01/22 | 150,000 | 150,000 | ||
Nuveen California Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b)(c) | 1.00% | 07/07/22 | 5,000,000 | 5,000,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.98% | 07/07/22 | 3,000,000 | 3,000,000 | |
Variable Rate Demand Preferred Shares Series 6 (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 1.00% | 07/07/22 | 700,000 | 700,000 | |
Variable Rate Demand Preferred Shares Series 7 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.98% | 07/07/22 | 9,000,000 | 9,000,000 | |
Sacramento Area Flood Control Agency | ||||||
Consolidated Capital Assessment District No 2 Bonds Series 2016A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 15,845,000 | 15,845,000 | |
San Diego Cnty Water Auth | ||||||
CP Series 10 (LIQ: BANK OF THE WEST) | 1.07% | 07/06/22 | 8,600,000 | 8,600,000 | ||
San Diego Public Facilities Financing Auth | ||||||
Sub Water Revenue CP Series A (LOC: BANK OF AMERICA NA) | 0.22% | 07/14/22 | 15,000,000 | 15,000,000 | ||
San Francisco Bay Area Rapid Transit District | ||||||
GO Bonds Series 2020C1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,500,000 | 4,500,000 | |
GO BondsSeries 2019F1 | 4.00% | 08/01/22 | 140,000 | 140,448 | ||
Sales Tax RB Series 2019A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,765,000 | 1,765,000 | |
San Francisco Public Utilities Commission | ||||||
Wastewater CP Series A1 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.03% | 08/02/22 | 12,715,000 | 12,715,000 | ||
Water RB Series 2017A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
San Jose | ||||||
Sub Airport CP Notes Series B (LOC: BANK OF AMERICA NA) | 1.60% | 10/27/22 | 10,000,000 | 10,000,000 | ||
Santa Clara Cnty | ||||||
Lease RB Series 2019A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,540,000 | 2,540,000 | |
Univ of California | ||||||
General RB Series 2014AM (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 950,000 | 950,000 | |
Limited Project RB Series 2015I (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,550,000 | 5,550,000 | |
608,941,273 | ||||||
COLORADO 1.6% | ||||||
Broomfield Urban Renewal Auth | ||||||
Tax Increment RB Series 2005 (LOC: BNP PARIBAS SA) | (a)(b) | 0.94% | 07/07/22 | 29,000,000 | 29,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Colorado Health Facilities Auth | ||||||
Hospital RB (Advent Health) Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,420,000 | 2,420,000 | |
RB (Children’s Hospital Colorado) Series 2016B (LOC: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.68% | 07/01/22 | 17,585,000 | 17,585,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.96% | 07/07/22 | 2,250,000 | 2,250,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 13,410,000 | 13,410,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,000,000 | 3,000,000 | |
RB (Sisters of Charity of Leavenworth Health) Series 2013A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,175,000 | 10,175,000 | |
RB (Sisters of Charity of Leavenworth Health) Series 2013A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 16,500,000 | 16,500,000 | |
Colorado Housing & Finance Auth | ||||||
M/F Housing RB (Terrace Park Apartments) Series 2007 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 10,860,000 | 10,860,000 | |
S/F Mortgage Class I Bonds Series 2017E (LIQ: BANK OF AMERICA NA) | (a)(b) | 1.01% | 07/07/22 | 14,000,000 | 14,000,000 | |
Colorado Springs | ||||||
Utility System Improvement RB Series 2007A (LIQ: TD BANK NA) | (a)(b) | 0.88% | 07/07/22 | 23,385,000 | 23,385,000 | |
Colorado State Univ | ||||||
System Enterprise RB Series 2015D (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
Denver | ||||||
Airport Sub RB Series 2018A (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.25%) | (a)(c)(d) | 1.16% | 07/07/22 | 12/01/22 | 4,000,000 | 4,000,000 |
Wastewater Enterprise RB Series 2016 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 2,375,000 | 2,375,000 | |
Denver SD #1 | ||||||
GO Bonds Series 2017 | 5.00% | 12/01/22 | 160,000 | 163,144 | ||
Univ of Colorado Hospital Auth | ||||||
Refunding RB Series 2017B-1 | (a)(b) | 0.91% | 07/07/22 | 36,605,000 | 36,605,000 | |
Refunding RB Series 2017B-2 | (a)(b) | 0.91% | 07/07/22 | 13,895,000 | 13,895,000 | |
Weld Cnty SD #4 | ||||||
GO Bonds Series 2016 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
214,623,144 | ||||||
CONNECTICUT 0.2% | ||||||
Connecticut Health & Educational Facilities Auth | ||||||
RB (Trinity Health) Series 2016CT (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.95% | 07/07/22 | 3,750,000 | 3,750,000 | |
Connecticut HFA | ||||||
Housing Mortgage Finance Bonds Series 2018C4 (LIQ: TD BANK NA) | (a)(b) | 0.94% | 07/07/22 | 19,850,000 | 19,850,000 | |
23,600,000 | ||||||
DELAWARE 0.1% | ||||||
Delaware Health Facilities Auth | ||||||
Refunding RB (Christiana Care Health Services) Series 2020A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.95% | 07/07/22 | 12,550,000 | 12,550,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New Castle Cnty | ||||||
Airport Facility RB (FlightSafety) Series 2002 | (a)(b) | 1.00% | 07/07/22 | 5,185,000 | 5,185,000 | |
17,735,000 | ||||||
DISTRICT OF COLUMBIA 1.7% | ||||||
District Columbia Income Tax Revenue | ||||||
Income Tax Secured RB Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 895,000 | 895,000 | |
District of Columbia | ||||||
GO Bonds Series 2017B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 42,000,000 | 42,000,000 | |
GO Refunding Bonds Series 2017C (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 25,900,000 | 25,900,000 | |
Income Tax Secured RB Series 2012C (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 12,465,000 | 12,465,000 | |
RB (Pew Charitable Trusts) Series 2008A (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.91% | 07/07/22 | 70,865,000 | 70,865,000 | |
Refunding RB Series 2012A | 5.00% | 12/01/22 | 125,000 | 127,324 | ||
District of Columbia HFA | ||||||
M/F Housing RB (Pentacle Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.01% | 07/07/22 | 8,565,000 | 8,565,000 | |
District of Columbia Water & Sewer Auth | ||||||
Extendible CP Series A | 1.35% | 08/15/22 | 02/10/23 | 38,000,000 | 38,000,000 | |
Public Utility Sr Lien RB Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 9,700,000 | 9,700,000 | |
Metropolitan Washington Airports Auth | ||||||
Airport System RB Series 2009D1 (LOC: TD BANK NA) | (a)(b) | 0.91% | 07/07/22 | 9,310,000 | 9,310,000 | |
Airport System Refunding RB Series 2018A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.99% | 07/07/22 | 7,725,000 | 7,725,000 | |
Airport System Refunding RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 1.01% | 07/07/22 | 7,665,000 | 7,665,000 | |
233,217,324 | ||||||
FLORIDA 4.4% | ||||||
Brevard Cnty HFA | ||||||
M/F Housing RB (Timber Trace Apts) Series 2007 (LOC: CITIBANK NA) | (a)(b) | 0.97% | 07/07/22 | 9,180,000 | 9,179,916 | |
Broward Cnty | ||||||
Airport Facility RB (Embraer Aircraft Holding) Series 2007A (LOC: CITIBANK NA) | (a)(b) | 0.93% | 07/07/22 | 11,500,000 | 11,500,000 | |
Port Facilities RB Series 2019B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.98% | 07/07/22 | 6,970,000 | 6,970,000 | |
Port Facilities RB Series 2019B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 1.00% | 07/07/22 | 815,000 | 815,000 | |
Broward Cnty HFA | ||||||
M/F Housing RB (Palms of Deerfield Beach Apts) Series 2006 (LOC: CITIBANK NA) | (a)(b) | 0.97% | 07/07/22 | 3,140,000 | 3,140,000 | |
M/F Housing RB (Sailboat Bend Artist Lofts) Series 2006 (LOC: CITIBANK NA) | (a)(b) | 0.96% | 07/07/22 | 1,100,000 | 1,100,000 | |
Collier Cnty Health Facilities Auth | ||||||
RB (Cleveland Clinic) Series 2003C1 | 1.47% | 09/16/22 | 40,675,000 | 40,675,000 | ||
Florida | ||||||
GO Bonds Series 2018A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 4,075,000 | 4,075,000 | |
Florida Development Finance Corp | ||||||
RB (Brightline Florida Passenger Rail) Series 2021A (ESCROW) | 0.30% | 07/01/22 | 57,840,000 | 57,775,630 | ||
RB (Brightline Florida Passenger Rail) Series 2021A (ESCROW) | (e) | 2.90% | 07/01/22 | 04/04/23 | 500,000 | 500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Florida Housing Finance Corp | ||||||
Housing RB (Brentwood Club of Millenia Blvd Apts) Series 2002A1 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 8,775,000 | 8,775,000 | |
M/F Housing RB (Hudson Ridge Apts) Series 2008L (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.96% | 07/07/22 | 1,130,000 | 1,130,000 | |
M/F Mortgage RB (Boynton Bay Apts) Series 2007I (LOC: CITIBANK NA) | (a)(b) | 0.97% | 07/07/22 | 7,725,000 | 7,725,000 | |
M/F Mortgage RB (Clear Harbor Apts) Series 2007H (LOC: CITIBANK NA) | (a)(b) | 1.00% | 07/07/22 | 2,995,000 | 2,995,000 | |
M/F Mortgage RB (Lakeshore Apts) Series 2004H (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 7,100,000 | 7,100,000 | |
M/F Mortgage RB (Mariner’s Cay Apts) Series 2008M (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.90% | 07/07/22 | 2,160,000 | 2,160,000 | |
M/F Mortgage RB (Spring Haven Apts) Series 2004F (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 5,100,000 | 5,100,000 | |
M/F Mortgage RB (Spring Haven Apts) Series 2006G (LOC: CITIBANK NA) | (a)(b) | 1.00% | 07/07/22 | 3,055,000 | 3,055,000 | |
M/F Mortgage RB (St. Andrews Pointe Apts) Series 2003E1 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 5,630,000 | 5,630,000 | |
M/F Mortgage Refunding RB (Grand Reserve at Lee Vista) Series 2004L (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 11,810,000 | 11,810,000 | |
M/F Mortgage Refunding RB (Grand Reserve at Maitland Park) Series 2004M (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 4,200,000 | 4,200,000 | |
Florida Local Government Finance Commission | ||||||
CP Series A1 (LOC: JPMORGAN CHASE BANK NA) | 1.03% | 07/05/22 | 21,423,000 | 21,423,000 | ||
CP Series A1 (LOC: JPMORGAN CHASE BANK NA) | 1.10% | 08/03/22 | 15,000,000 | 15,000,000 | ||
Florida State Board of Education | ||||||
Public Education Capital Outlay Refunding Bonds Series 2017B (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 3,625,000 | 3,625,000 | |
Hillsborough Cnty | ||||||
Solid Waste & Recovery Refunding RB Series 2016B (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (a)(c)(d) | 1.11% | 07/07/22 | 09/01/22 | 1,400,000 | 1,400,000 |
Hillsborough Cnty HFA | ||||||
M/F Housing RB (Lake Kathy Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 18,215,000 | 18,215,000 | |
Hillsborough Cnty IDA | ||||||
Health System RB (Baycare Health) Series 2020B (LOC: TD BANK NA) | (a)(b) | 0.61% | 07/01/22 | 33,205,000 | 33,205,000 | |
Jacksonville | ||||||
CP Series A (LOC: BANK OF AMERICA NA) | 0.95% | 07/06/22 | 4,000,000 | 4,000,000 | ||
Health Care Refunding RB (Baptist Health) Series 2019D | (a)(b) | 0.91% | 07/07/22 | 17,000,000 | 17,000,000 | |
Health Care Refunding RB (Baptist Health) Series 2019E | (a)(b) | 0.91% | 07/07/22 | 7,350,000 | 7,350,000 | |
Kissimmee Utility Auth | ||||||
CP Notes Series B (LIQ: JPMORGAN CHASE BANK NA) | 1.35% | 10/03/22 | 11,327,000 | 11,327,000 | ||
Martin Cnty Health Facilities Auth | ||||||
Hospital RB (Cleveland Clinic Health System) Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,750,000 | 3,750,000 | |
Miami-Dade Cnty | ||||||
GO Bonds Series 2016A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.98% | 07/07/22 | 15,370,000 | 15,370,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Orange Cnty HFA | ||||||
M/F Housing RB (Lakeside Pointe Apts) Series 2005B (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.04% | 07/07/22 | 5,330,000 | 5,330,000 | |
M/F Housing RB (Landings on Millenia Blvd Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.04% | 07/07/22 | 10,585,000 | 10,585,000 | |
M/F Housing RB (Laurel Oaks Apts II) Series 2007H (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.93% | 07/07/22 | 6,890,000 | 6,890,000 | |
M/F Housing RB (Laurel Oaks Apts) Series 2007G (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.93% | 07/07/22 | 7,460,000 | 7,460,000 | |
M/F Housing RB (Lee Vista Club Apts) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.04% | 07/07/22 | 10,700,000 | 10,700,000 | |
M/F Housing RB (Marbella Cove) Series 2007B (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 1.06% | 07/07/22 | 4,185,000 | 4,185,000 | |
M/F Housing RB (The Cove At Lady Lake Apts) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.04% | 07/07/22 | 7,185,000 | 7,185,000 | |
Orange Cnty IDA | ||||||
RB (Foundation Academy of Winter Garden) Series 2007 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 1.13% | 07/07/22 | 6,685,000 | 6,685,000 | |
Orlando Utilities Commission | ||||||
Utility System RB Series 2008-1 (LIQ: TD BANK NA) | (a)(b) | 0.91% | 07/07/22 | 60,520,000 | 60,520,000 | |
Utility System RB Series 2008-2 (LIQ: TD BANK NA) | (a)(b) | 0.99% | 07/07/22 | 8,865,000 | 8,865,000 | |
Palm Beach Cnty HFA | ||||||
M/F Housing RB (Palm Gardens Apts) Series 2007 (LOC: CITIBANK NA) | (a)(b) | 1.40% | 07/07/22 | 2,610,000 | 2,610,000 | |
Sarasota Cnty | ||||||
RB (Planned Parenthood) Series 2007 (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.97% | 07/07/22 | 760,000 | 760,000 | |
South Broward Hospital District | ||||||
Hospital RB Series 2021A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,470,000 | 9,470,000 | |
Sunshine State Governmental Financing Commission | ||||||
CP Series H (LIQ: JPMORGAN CHASE BANK NA) | 1.36% | 08/11/22 | 43,702,000 | 43,702,000 | ||
CP Series H (LIQ: JPMORGAN CHASE BANK NA) | 1.45% | 09/09/22 | 50,000,000 | 50,000,000 | ||
Tampa Bay Water | ||||||
Utility System RB Series 2013 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Volusia Cnty HFA | ||||||
M/F Housing RB (Cape Morris Cove Apts) Series 2007A (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.97% | 07/07/22 | 6,140,000 | 6,140,000 | |
593,162,546 | ||||||
GEORGIA 2.4% | ||||||
Atlanta | ||||||
Water & Wastewater CP Series 2021 (LOC: WELLS FARGO BANK NA) | 1.67% | 10/20/22 | 12,197,000 | 12,197,000 | ||
Water & Wastewater Refunding RB Series 2015 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 12,500,000 | 12,500,000 | |
Water & Wastewater Refunding RB Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,660,000 | 4,660,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Atlanta Airport | ||||||
2nd Lien PFC & 3rd Lien General Revenue CP Series J2 (LOC: BANK OF AMERICA NA) | 1.10% | 07/18/22 | 54,250,000 | 54,250,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series J2 (LOC: BANK OF AMERICA NA) | 1.20% | 07/18/22 | 4,200,000 | 4,200,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series J2 (LOC: BANK OF AMERICA NA) | 1.23% | 07/18/22 | 8,000,000 | 8,000,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series K2 (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.03% | 07/18/22 | 1,898,000 | 1,898,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series K2 (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.19% | 07/18/22 | 72,500,000 | 72,500,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series K2 (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.25% | 07/18/22 | 5,401,000 | 5,401,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series K2 (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.30% | 07/18/22 | 2,857,000 | 2,857,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series L1 (LOC: JPMORGAN CHASE BANK NA) | 1.05% | 07/18/22 | 862,000 | 862,000 | ||
2nd Lien PFC & 3rd Lien General Revenue CP Series L2 (LOC: JPMORGAN CHASE BANK NA) | 1.05% | 07/18/22 | 70,500,000 | 70,500,000 | ||
General RB Series 2019B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.97% | 07/07/22 | 5,000,000 | 5,000,000 | |
Brookhaven Development Auth | ||||||
RB (Children’s Healthcare of Atlanta) Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,750,000 | 3,750,000 | |
Fulton Cnty Development Auth | ||||||
Airport Facility RB (FlightSafety) Series 1999B | (a)(b) | 1.00% | 07/07/22 | 9,350,000 | 9,350,000 | |
Marietta Housing Auth | ||||||
M/F Housing RB (Walton Village Apts) Series 2005 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.04% | 07/07/22 | 14,300,000 | 14,300,000 | |
Metropolitan Atlanta Rapid Transit Auth | ||||||
Sales Tax Refunding RB Series 2017C (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 11,975,000 | 11,975,000 | |
Paulding Cnty | ||||||
GO Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.68% | 07/01/22 | 14,995,000 | 14,995,000 | |
Savannah Economic Development Auth | ||||||
Exempt Facility RB (Home Depot) Series 1995B (LOC: TRUIST BANK) | (a)(b) | 1.06% | 07/07/22 | 12,750,000 | 12,750,000 | |
Winder-Barrow Cnty Jt Development Auth | ||||||
IDRB (Price Companies) Series 2007 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.98% | 07/07/22 | 2,230,000 | 2,230,000 | |
324,175,000 | ||||||
HAWAII 0.2% | ||||||
Honolulu | ||||||
GO Bonds Series 2015A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,000,000 | 7,000,000 | |
GO Bonds Series 2016A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 6,885,000 | 6,885,000 | |
Honolulu City & Cnty Wastewater System | ||||||
Wastewater System RB Series 2012A (ESCROW) | 5.00% | 07/01/22 | 15,140,000 | 15,140,000 | ||
29,025,000 | ||||||
IDAHO 0.1% | ||||||
Cassia Cnty IDC | ||||||
IDRB (Oak Valley Heifers) Series 2007 (LOC: COOPERATIEVE RABOBANK UA) | (a)(b) | 1.03% | 07/07/22 | 1,100,000 | 1,100,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Idaho Health Facilities Auth | ||||||
Hospital RB (Trinity Health) Series 2013ID | 1.40% | 08/01/22 | 7,500,000 | 7,500,000 | ||
8,600,000 | ||||||
ILLINOIS 5.2% | ||||||
Chicago | ||||||
M/F Housing RB (Churchview Supportive Living Facility) Series 2003 (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.95% | 07/07/22 | 4,690,000 | 4,690,000 | |
M/F Housing RB (Lincoln Village Sr Apts) Series 2006 (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.95% | 07/07/22 | 4,027,000 | 4,027,000 | |
M/F Housing RB (Renaissance Place Apts) Series 2007 (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.95% | 07/07/22 | 1,015,000 | 1,015,000 | |
M/F Housing RB (Renaissance St Luke) Series 2008 (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.95% | 07/07/22 | 7,580,000 | 7,580,000 | |
Midway Airport 2nd Lien RB Series 2004C1 (LOC: BANK OF MONTREAL) | (a)(b) | 0.94% | 07/07/22 | 39,515,000 | 39,515,000 | |
Midway Airport CP Series 2022A (LOC: BANK OF MONTREAL) | 1.62% | 09/20/22 | 18,163,000 | 18,163,000 | ||
OHare General Airport Sr Lien RB Series 2017D (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 1.00% | 07/07/22 | 9,360,000 | 9,360,000 | |
OHare General Airport Sr Lien Refunding RB Series 2018A (LOC: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.95% | 07/07/22 | 12,670,000 | 12,670,000 | |
Illinois Finance Auth | ||||||
Pooled Program CP (LOC: JPMORGAN CHASE BANK NA) | 1.10% | 08/04/22 | 10,417,000 | 10,417,000 | ||
RB (Advocate Health) Series 2008C-1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.95% | 07/07/22 | 57,715,000 | 57,715,000 | |
RB (Lake Forest College) Series 2008 (LOC: NORTHERN TRUST COMPANY (THE)) | (a)(b) | 0.98% | 07/07/22 | 2,500,000 | 2,500,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022F (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.61% | 07/01/22 | 30,015,000 | 30,015,000 | |
RB (Northshore Edward Elmhurst) Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.63% | 07/01/22 | 21,675,000 | 21,675,000 | |
RB (Northshore Edward Elmhurst) Series 2022E (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.63% | 07/01/22 | 26,325,000 | 26,325,000 | |
RB (NorthShore Univ Health System) Series 2020A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 9,910,000 | 9,910,000 | |
RB (NorthShore Univ Health System) Series 2020B (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.61% | 07/01/22 | 3,180,000 | 3,180,000 | |
RB (Northwestern Memorial Hospital) Series 2013 (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 16,280,000 | 16,280,000 | |
RB (Northwestern Memorial Hospital) Series 2013 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,800,000 | 2,800,000 | |
RB (Univ of Chicago Medical Center) Series 2016B (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 59,595,000 | 59,595,000 | |
RB (Univ of Chicago) Series 2015A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 34,600,000 | 34,600,000 | |
RB (Univ of Chicago) Series 2018A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 25,600,000 | 25,600,000 | |
Refunding RB (Northwestern Memorial Health) Series 2021E | (a)(b) | 0.85% | 07/07/22 | 31,000,000 | 31,000,000 | |
Refunding RB (Northwestern Memorial Healthcare) Series 2021D | (a)(b) | 0.89% | 07/07/22 | 27,700,000 | 27,700,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Refunding RB (OSF Healthcare System) Series 2018B (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.63% | 07/01/22 | 3,000,000 | 3,000,000 | |
Refunding RB (OSF Healthcare) Series 2018C (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.65% | 07/01/22 | 3,400,000 | 3,400,000 | |
Illinois Hsg Development Auth March 2016 S/F | ||||||
RB Series 2022D (LIQ: BANK OF MONTREAL) | (a)(b) | 0.95% | 07/07/22 | 32,070,000 | 32,070,000 | |
Illinois Regional Transportation Auth | ||||||
GO Bonds Series 2018B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 11,470,000 | 11,470,000 | |
GO Bonds Series 2018B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 16,000,000 | 16,000,000 | |
Illinois Toll Highway Auth | ||||||
Sr RB Series 2013A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.97% | 07/07/22 | 20,300,000 | 20,300,000 | |
Sr RB Series 2014B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 8,000,000 | 8,000,000 | |
Sr RB Series 2014C (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,665,000 | 6,665,000 | |
Sr RB Series 2014C (LIQ: CITIBANK NA) | (a)(c)(d) | 0.95% | 07/07/22 | 3,165,000 | 3,165,000 | |
Sr RB Series 2015A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 20,435,000 | 20,435,000 | |
Sr RB Series 2015B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,495,000 | 2,495,000 | |
Sr RB Series 2015B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 5,675,000 | 5,675,000 | |
Lisle | ||||||
M/F Housing RB (Ashley of Lisle) Series 1985 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.00% | 07/07/22 | 27,000,000 | 27,000,000 | |
Metropolitan Water Reclamation District of Greater Chicago | ||||||
ULT GO Bonds Series 2014A&C (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 39,530,000 | 39,530,000 | |
ULT GO Bonds Series 2016C (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.95% | 07/07/22 | 16,500,000 | 16,500,000 | |
Palatine | ||||||
Special Facility RB (Little City for Community Development) Series 1998 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.97% | 07/07/22 | 5,000,000 | 5,000,000 | |
Will Cnty | ||||||
RB (ExxonMobil) Series 2001 | (a)(b) | 0.66% | 07/01/22 | 19,585,000 | 19,585,000 | |
696,622,000 | ||||||
INDIANA 1.4% | ||||||
Gibson Cnty | ||||||
Pollution Control RB (Toyota Motor Manufacturing) Series 1997 | (a)(b) | 0.91% | 07/07/22 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 1998 | (a)(b) | 0.91% | 07/07/22 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 1999A | (a)(b) | 0.91% | 07/07/22 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 2000A | (a)(b) | 0.91% | 07/07/22 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 2001B | (a)(b) | 0.91% | 07/07/22 | 20,000,000 | 20,000,000 | |
Indiana Finance Auth | ||||||
Economic Development RB (Cargill) Series 2011 | (a)(b) | 0.96% | 07/07/22 | 4,000,000 | 4,000,000 | |
Environmental RB Series 2021 (ESCROW) | 0.28% | 11/15/22 | 95,000,000 | 93,974,018 | ||
Health System RB (Franciscan Alliance) Series 2016 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 2,500,000 | 2,500,000 | |
Health System RB (Franciscan Alliance) Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,150,000 | 9,150,000 | |
Health System RB (Franciscan Alliance) Series 2016A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,625,000 | 3,625,000 | |
Indiana Health Facility Financing Auth | ||||||
RB (Ascension Health Credit Group) Series 2003E-6 | (a)(b) | 0.85% | 07/07/22 | 1,575,000 | 1,575,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Indiana Housing & Community Development Agency | ||||||
S/F Mortgage RB Series 2017B-3 (LIQ: TD BANK NA) | (a)(b) | 0.61% | 07/01/22 | 1,400,000 | 1,400,000 | |
Noblesville | ||||||
RB (GreyStone Apts) Series 2006A (LOC: BANK OF AMERICA NA) | (a)(b) | 1.02% | 07/07/22 | 9,140,000 | 9,140,000 | |
185,364,018 | ||||||
IOWA 2.2% | ||||||
Iowa Board of Regents | ||||||
RB (Univ of Iowa Hospitals) Series 2012 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,965,000 | 6,965,000 | |
Iowa Finance Auth | ||||||
Health Facilities RB (UnityPoint Health) Series 2013B1 (LOC: TD BANK NA) | (a)(b) | 0.61% | 07/01/22 | 800,000 | 800,000 | |
Health Facilities RB (UnityPoint Health) Series 2013B2 (LOC: TD BANK NA) | (a)(b) | 0.61% | 07/01/22 | 2,840,000 | 2,840,000 | |
M/F Housing RB (Country Club Village) Series 2006 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.99% | 07/07/22 | 8,050,000 | 8,050,000 | |
Midwestern Disaster Area RB (Cargill) Series 2009A | (a)(b) | 0.94% | 07/07/22 | 37,000,000 | 37,000,000 | |
Midwestern Disaster Area RB (Cargill) Series 2009B | (a)(b) | 0.96% | 07/07/22 | 65,947,000 | 65,947,000 | |
Midwestern Disaster Area RB (Cargill) Series 2012 | (a)(b) | 0.98% | 07/07/22 | 31,500,000 | 31,500,000 | |
Midwestern Disaster Area RB (Cargill) Series 2012A | (a)(b)(f) | 0.96% | 07/07/22 | 73,200,000 | 73,200,000 | |
Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 (LOC: COBANK ACB) | (a)(b) | 0.99% | 07/07/22 | 5,940,000 | 5,940,000 | |
RB (UnityPoint Health) Series 2018E (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.63% | 07/01/22 | 600,000 | 600,000 | |
Sewage and Solid Waste Disposal RB (Cargill) Series 2021 | (a)(b) | 0.98% | 07/07/22 | 61,000,000 | 61,000,000 | |
293,842,000 | ||||||
KANSAS 0.2% | ||||||
Meade Cnty | ||||||
Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2021 (LOC: AGRIBANK FCB) | (a)(b) | 1.03% | 07/07/22 | 7,000,000 | 7,000,000 | |
Wichita | ||||||
Industrial RB (Cargill) Series VII-A 2018 | (a)(b) | 0.98% | 07/07/22 | 25,800,000 | 25,800,000 | |
32,800,000 | ||||||
KENTUCKY 0.7% | ||||||
Hancock Cnty | ||||||
Solid Waste Disposal Facilities RB (NSA Ltd) Series 1998 (LOC: WELLS FARGO BANK NA) | (a)(b) | 1.05% | 07/07/22 | 7,815,000 | 7,815,000 | |
Hopkinsville | ||||||
IDRB (Riken Elastomers Corp) Series 2007A (LOC: MUFG BANK LTD) | (a)(b) | 0.97% | 07/07/22 | 5,500,000 | 5,500,000 | |
IDRB (Riken Elastomers Corp) Series 2013A (LOC: MUFG BANK LTD) | (a)(b) | 0.97% | 07/07/22 | 5,000,000 | 5,000,000 | |
Kenton Cnty Airport Board | ||||||
Special Facilities RB (FlightSafety) Series 2001A | (a)(b) | 1.00% | �� | 07/07/22 | 4,400,000 | 4,400,000 |
Kentucky Housing Corp | ||||||
M/F Housing RB (Highlands Court Apts) Series 2007 (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 1.09% | 07/07/22 | 3,000,000 | 3,000,000 | |
Lexington-Fayette Cnty Airport Board | ||||||
Airport Refunding RB Series 2012B (ESCROW) | 5.00% | 07/01/22 | 2,170,000 | 2,170,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Louisville & Jefferson Cnty Metro Government | ||||||
Health System RB (Norton Healthcare) Series 2011A (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.90% | 07/07/22 | 4,590,000 | 4,590,000 | |
RB (Norton Healthcare) Series 2011B (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.63% | 07/01/22 | 2,545,000 | 2,545,000 | |
RB (Norton Healthcare) Series 2020A (LOC: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 16,875,000 | 16,875,000 | |
Louisville & Jefferson Cnty Metro Sewer District | ||||||
CP Series 2018A1 (LIQ: BANK OF AMERICA NA) | 0.77% | 07/14/22 | 10,000,000 | 10,000,000 | ||
CP Series 2018A1 (LIQ: BANK OF AMERICA NA) | 1.37% | 09/22/22 | 10,000,000 | 10,000,000 | ||
CP Series 2018A2 (LIQ: JPMORGAN CHASE BANK NA) | 1.15% | 08/23/22 | 8,500,000 | 8,500,000 | ||
CP Series 2018A2 (LIQ: JPMORGAN CHASE BANK NA) | 1.50% | 09/16/22 | 8,000,000 | 8,000,000 | ||
CP Series 2018A2 (LIQ: JPMORGAN CHASE BANK NA) | 1.59% | 10/03/22 | 10,000,000 | 10,000,000 | ||
98,395,000 | ||||||
LOUISIANA 0.6% | ||||||
Calcasieu Parish IDB | ||||||
Refunding RB (Hydroserve Westlake) Series 1999 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 1.02% | 07/07/22 | 2,700,000 | 2,700,000 | |
East Baton Rouge Parish IDB | ||||||
RB (ExxonMobil) Series 2010A | (a)(b) | 0.63% | 07/01/22 | 11,250,000 | 11,250,000 | |
Louisiana HFA | ||||||
M/F Housing RB (Jefferson Lakes Apts) Series 2007 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.05% | 07/07/22 | 12,030,000 | 12,030,000 | |
M/F Housing RB (Lapalco Court Apts) Series 2007 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.05% | 07/07/22 | 6,400,000 | 6,400,000 | |
M/F Housing RB (Palmetto Apts) Series 2004 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.94% | 07/07/22 | 2,340,000 | 2,340,000 | |
Louisiana Local Government Environmental Facilities & Community Development Auth | ||||||
RB (American Biocarbon) Series 2021 (ESCROW) | 2.13% | 12/01/22 | 2,000,000 | 2,000,000 | ||
RB (Louise S. McGehee School) Series 2010 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 1.05% | 07/07/22 | 3,570,000 | 3,570,000 | |
Louisiana Public Facilities Auth | ||||||
RB (Ochsner Clinic Foundation) Series 2020A (LOC: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 3,420,000 | 3,420,000 | |
Plaquemines Port, Harbor & Terminal District | ||||||
Port Facilities Refunding RB Series 1984A (LOC: WELLS FARGO BANK NA) | 1.45% | 03/15/23 | 12,500,000 | 12,500,000 | ||
Port Facilities Refunding RB Series 1984B (LOC: WELLS FARGO BANK NA) | 1.45% | 03/15/23 | 20,000,000 | 20,000,000 | ||
St. Tammany Parish Development District | ||||||
RB (BCS Development) Series 2008 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 1.05% | 07/07/22 | 2,735,000 | 2,735,000 | |
78,945,000 | ||||||
MAINE 0.2% | ||||||
Dover-Foxcroft | ||||||
Revenue Obligation (Pleasant River Lumber) Series 2005 (LOC: WELLS FARGO BANK NA) | (a)(b) | 1.15% | 07/06/22 | 07/07/22 | 245,000 | 245,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Maine State Housing Auth | ||||||
Mortgage Purchase Bonds Series 2015E3 (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.97% | 07/07/22 | 20,000,000 | 20,000,000 | |
20,245,000 | ||||||
MARYLAND 0.9% | ||||||
Baltimore Cnty | ||||||
GO Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.94% | 07/07/22 | 9,915,000 | 9,915,000 | |
GO Bonds Series 2018 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 2,570,000 | 2,570,000 | |
Maryland Community Development Administration | ||||||
Residential RB Series 2021B (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.97% | 07/07/22 | 1,655,000 | 1,655,000 | |
Maryland Health & Higher Educational Facilities Auth | ||||||
RB (Greater Baltimore Medical Ctr) Series 2021A (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,350,000 | 4,350,000 | |
RB (Univ of Maryland Medical System) Series 2017D (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.95% | 07/07/22 | 7,390,000 | 7,390,000 | |
RB Series (Univ of Maryland Medical System) 2013A (ESCROW) | 5.00% | 07/01/22 | 15,000,000 | 15,000,000 | ||
Maryland IDA | ||||||
Economic Development RB (Paul Reed Smith Guitars) Series 2008 (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 1.03% | 07/07/22 | 6,380,000 | 6,380,000 | |
Montgomery Cnty | ||||||
CP BAN Series 2009A (LIQ: JPMORGAN CHASE BANK NA) | 1.10% | 07/11/22 | 42,000,000 | 42,000,000 | ||
RB (Trinity Health) Series 2013MD | 1.35% | 09/01/22 | 15,100,000 | 15,100,000 | ||
RB (Trinity Health) Series 2016MD (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Univ System of Maryland | ||||||
Auxiliary Facility & Tuition RB Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 6,600,000 | 6,600,000 | |
118,460,000 | ||||||
MASSACHUSETTS 1.7% | ||||||
Billerica | ||||||
ULT GO Series 70B (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 6,000,000 | 6,000,000 | |
Boston Water & Sewer Commission | ||||||
CP BAN Series A (LOC: STATE STREET BANK AND TRUST COMPANY) | 1.20% | 09/07/22 | 3,500,000 | 3,500,000 | ||
Massachusetts | ||||||
GO Bonds Series 2014C | 5.00% | 07/01/22 | 870,000 | 870,000 | ||
GO Bonds Series 2016A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.95% | 07/07/22 | 3,750,000 | 3,750,000 | |
GO Bonds Series 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 22,540,000 | 22,540,000 | |
GO Bonds Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
GO Bonds Series 2021B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
GO Refunding Bonds Series 2004A | 5.25% | 08/01/22 | 125,000 | 125,526 | ||
GO Refunding Bonds Series 2016A | 5.00% | 07/01/22 | 165,000 | 165,000 | ||
GO Refunding Bonds Series 2016B | 5.00% | 07/01/22 | 3,435,000 | 3,435,000 | ||
GO Refunding Bonds Series 2018B | 5.00% | 07/01/22 | 125,000 | 125,000 | ||
GO Refunding Bonds Series 2020D (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,125,000 | 1,125,000 | |
Special Obligation Dedicated Tax Refunding RBs Series 2005 (GTY: BERKSHIRE HATHAWAY ASSURANCE CORP) (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.18%) | (a)(c)(d) | 1.09% | 07/07/22 | 01/03/23 | 4,000,000 | 4,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Massachusetts Bay Transportation Auth | ||||||
Sr Sales Tax Bonds Series 2004B | 5.25% | 07/01/22 | 1,245,000 | 1,245,000 | ||
Sr Sales Tax Bonds Series 2005A | 5.00% | 07/01/22 | 630,000 | 630,000 | ||
Sr Sales Tax Bonds Series 2006B | 5.25% | 07/01/22 | 440,000 | 440,000 | ||
Sub Sales Tax RB Series 2020B2 | 5.00% | 07/01/22 | 10,020,000 | 10,020,000 | ||
Massachusetts Bay Transportation Auth Sales Tax Program | ||||||
Sub Sales Tax Bonds Series 2021A1 (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 4,000,000 | 4,000,000 | |
Massachusetts Development Finance Agency | ||||||
RB (Chelsea Jewish Lifecare) Series 2019 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b)(c) | 0.98% | 07/07/22 | 27,255,000 | 27,255,000 | |
RB (CIL Realty) Series 2011 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 2,935,000 | 2,935,000 | |
RB (CIL Realty) Series 2016 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 12,890,000 | 12,890,000 | |
RB (College of the Holy Cross) Series 2002 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 5,050,000 | 5,050,000 | |
RB (Harvard Univ) Series 2016A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
RB (Partners HealthCare) Series T2 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,400,000 | 7,400,000 | |
Massachusetts Health & Educational Facilities Auth | ||||||
RB (Partners HealthCare) Series P1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.90% | 07/07/22 | 4,500,000 | 4,500,000 | |
Massachusetts HFA | ||||||
Housing RB Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,530,000 | 2,530,000 | |
Massachusetts Port Auth | ||||||
RB Series 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.97% | 07/07/22 | 4,800,000 | 4,800,000 | |
Massachusetts Water Resources Auth | ||||||
General Refunding RB Series 2008A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.88% | 07/07/22 | 15,435,000 | 15,435,000 | |
General Refunding RB Series 2008A3 (LIQ: WELLS FARGO BANK NA) | (a)(b) | 0.88% | 07/07/22 | 35,515,000 | 35,515,000 | |
RB Series 2002J | 5.50% | 08/01/22 | 130,000 | 130,578 | ||
Refunding RB Series 2019C | 5.00% | 08/01/22 | 115,000 | 115,462 | ||
Univ of Massachusetts Building Auth | ||||||
CP Notes Series 2013A-1 (LIQ: STATE STREET BANK AND TRUST COMPANY) | 1.13% | 08/03/22 | 20,000,000 | 20,000,000 | ||
Refunding RB Sr Series 2013-3 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,325,000 | 8,325,000 | |
234,351,566 | ||||||
MICHIGAN 3.4% | ||||||
Detroit | ||||||
Water & Sewerage Disposal System Sr Lien Refunding RB Series 2012A (ESCROW) | 5.25% | 07/01/22 | 2,655,000 | 2,655,000 | ||
Michigan | ||||||
State Trunk Line Fund Bonds Series 2020B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,800,000 | 9,800,000 | |
Michigan Finance Auth | ||||||
Hospital RB (CHE Trinity Health) Series 2013MI1 | 1.35% | 09/01/22 | 11,000,000 | 11,000,000 | ||
Hospital RB (CHE Trinity Health) Series 2013MI3 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 28,700,000 | 28,700,000 | |
Hospital Refunding RB (Trinity Health) Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,710,000 | 2,710,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Hospital Refunding RB (Trinity Health) Series A 2017MI (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,125,000 | 2,125,000 | |
Hospital Refunding RB (Trinity Health) Series A 2019MI (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,285,000 | 4,285,000 | |
Michigan Housing Development Auth | ||||||
Rental Housing RB Series 2000A (LOC: BARCLAYS BANK PLC) | (a)(b) | 0.93% | 07/07/22 | 14,275,000 | 14,275,000 | |
Rental Housing RB Series 2008C (LIQ: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.96% | 07/06/22 | 07/07/22 | 505,000 | 505,000 |
Rental Housing RB Series 2016E (LIQ: UBS AG) | (a)(b) | 0.95% | 07/07/22 | 11,635,000 | 11,635,000 | |
Rental Housing RB Series 2018A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Rental Housing RB Series 2018A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,335,000 | 3,335,000 | |
Rental Housing RB Series 2022B (LOC: BANK OF AMERICA NA) | (a)(b) | 0.93% | 07/07/22 | 27,000,000 | 27,000,000 | |
S/F Mortgage RB Series 2006C (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.90% | 07/07/22 | 13,215,000 | 13,215,000 | |
S/F Mortgage RB Series 2018B (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 47,495,000 | 47,495,000 | |
S/F Mortgage RB Series 2018D (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 47,495,000 | 47,495,000 | |
S/F Mortgage RB Series 2022B (LOC: BARCLAYS BANK PLC) | (a)(b) | 0.90% | 07/07/22 | 34,000,000 | 34,000,000 | |
Michigan State Univ | ||||||
General RB Series 2000A1 (LIQ: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 35,770,000 | 35,770,000 | |
Michigan Strategic Fund | ||||||
Limited Obligation RB (Kroger) Series 2010 (LOC: BANK OF NOVA SCOTIA) | (a)(b) | 0.95% | 07/07/22 | 36,335,000 | 36,335,000 | |
Limited Obligation RB (Mibelloon Dairy) Series 2006 (LOC: WELLS FARGO BANK NA) | (a)(b) | 1.03% | 07/07/22 | 1,425,000 | 1,425,000 | |
Limited Obligation RB (Tubelite) Series 2012 (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.99% | 07/07/22 | 10,000,000 | 10,000,000 | |
LT GO Bonds (Greenville Venture Partners) Series 2018 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 5,250,000 | 5,250,000 | |
Recovery Zone Facility RB (CS Facilities) Series 2010 (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.99% | 07/07/22 | 31,045,000 | 31,045,000 | |
Univ of Michigan | ||||||
CP Notes Series L1 | 0.70% | 07/06/22 | 18,915,000 | 18,914,366 | ||
CP Notes Series L1 | 0.95% | 08/01/22 | 20,000,000 | 20,000,000 | ||
Extendible CP Notes Series L2 | 1.14% | 07/01/22 | 01/30/23 | 23,280,000 | 23,280,000 | |
Extendible CP Notes Series L2 | 1.20% | 08/31/22 | 02/27/23 | 3,925,000 | 3,925,000 | |
General RB Series 2015 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 500,000 | 500,000 | |
General RB Series 2015 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 4,000,000 | 4,000,000 | |
458,174,366 | ||||||
MINNESOTA 1.2% | ||||||
Bloomington | ||||||
M/F Housing Refunding RB (Norlan Partners) Series 2002A1 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.02% | 07/07/22 | 3,990,000 | 3,990,000 | |
East Grand Forks | ||||||
Solid Waste Disposal RB (American Crystal Sugar) Series 2019 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 8,000,000 | 8,000,000 | |
Edina | ||||||
M/F Housing Refunding RB (Vernon Terrace Apts) Series 2004 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.99% | 07/07/22 | 5,705,000 | 5,705,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Grant Cnty | ||||||
IDRB (Riverview) Series 2020 (LOC: AGRIBANK FCB) | (a)(b) | 1.03% | 07/07/22 | 20,000,000 | 20,000,000 | |
Minnesota HFA | ||||||
Residential Housing Finance Bonds Series 2015G (LIQ: ROYAL BANK OF CANADA) | (a)(b) | 0.90% | 07/07/22 | 17,500,000 | 17,500,000 | |
Moorehead | ||||||
Refunding RBs (American Crystal Sugar Comp) Series 2020 (LOC: COBANK ACB) | (a)(b) | 0.99% | 07/07/22 | 7,500,000 | 7,500,000 | |
Norman Cnty | ||||||
Solid Waste Disposal RB (Riverview) Series 2022 (LOC: AGRIBANK FCB) | (a)(b) | 1.03% | 07/07/22 | 20,000,000 | 20,000,000 | |
Rochester | ||||||
Health Care Facilities RB (Mayo Clinic) Series 2014 | 1.10% | 07/07/22 | 57,000,000 | 57,000,000 | ||
St. Louis Park | ||||||
M/F Housing Refunding RB (Knollwood Place Apts) Series 2005 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.99% | 07/07/22 | 12,300,000 | 12,300,000 | |
M/F Housing Refunding RB (Westwind Apts) Series 2003 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 5,565,000 | 5,565,000 | |
Swift Cnty | ||||||
IDRB (Riverview LLP) Series 2018 (LOC: AGRIBANK FCB) | (a)(b) | 1.03% | 07/07/22 | 10,000,000 | 10,000,000 | |
167,560,000 | ||||||
MISSISSIPPI 0.7% | ||||||
Jackson Cnty | ||||||
Port Facility Refunding RB (Chevron) Series 1993 | (a)(b) | 0.63% | 07/01/22 | 21,385,000 | 21,385,000 | |
Water System GO Refunding Bonds Series 1994 | 0.50% | 08/01/22 | 12,840,000 | 12,838,827 | ||
Mississippi Business Finance Corp | ||||||
Gulf Opportunity Zone IDRB (Chevron) Series 2010C | (a)(b) | 0.94% | 07/07/22 | 26,015,000 | 26,015,000 | |
IDRB (Chevron) Series 2007A | (a)(b) | 0.63% | 07/01/22 | 8,000,000 | 8,000,000 | |
IDRB (Chevron) Series 2007B | (a)(b) | 0.63% | 07/01/22 | 1,255,000 | 1,255,000 | |
Mississippi Home Corp | ||||||
M/F Housing RB (Edgewood Manor Apts) Series 20082 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.05% | 07/07/22 | 5,000,000 | 5,000,000 | |
M/F Housing RB (William Bell Apts) Series 20081 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.05% | 07/07/22 | 5,360,000 | 5,360,000 | |
Mississippi State Univ Educational Building Corp | ||||||
Refunding RB (Mississippi State Univ) Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,760,000 | 9,760,000 | |
89,613,827 | ||||||
MISSOURI 1.1% | ||||||
Greene Cnty IDA | ||||||
Housing RB (Strasbourg Estates) Series 2006 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 2,160,000 | 2,160,000 | |
Kansas City IDA | ||||||
M/F Housing RB (Clay Terrace Apts) Series 2006 (LOC: BANK OF AMERICA NA) | (a)(b) | 1.00% | 07/07/22 | 8,685,000 | 8,685,000 | |
Metropolitan St Louis Sewer District | ||||||
Wastewater System RB Series 2016C (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 10,580,000 | 10,580,000 | |
Wastewater System Refunding & RB Series 2017A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Missouri Health & Educational Facilities Auth | ||||||
Health Facilities RB (BJC Health System) Series 2008E | (a)(b) | 0.92% | 07/07/22 | 19,360,000 | 19,360,000 | |
Health Facilities RB (Mercy Health) Series 2020 (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 3,750,000 | 3,750,000 | |
Health Facilities RB (SSM Health) Series 2019A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.95% | 07/07/22 | 17,500,000 | 17,500,000 | |
Health Facilities Refunding RB (BJC Health) Series 2008A | (a)(b) | 0.90% | 07/07/22 | 16,570,000 | 16,570,000 | |
RB (Ascension Health) Series 2003C2 | (a)(b) | 0.85% | 07/07/22 | 1,965,000 | 1,965,000 | |
RB (Ascension Health) Series 2003C3 | (a)(b) | 0.96% | 07/07/22 | 24,800,000 | 24,800,000 | |
North Kansas City SD | ||||||
GO Bonds Series 2016B (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 7,790,000 | 7,790,000 | |
St Louis County | ||||||
Special Obligation RB (Convention Center) Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,105,000 | 9,105,000 | |
St. Louis Cnty IDA | ||||||
IDRB (Kessler Container) Series 1997A (LOC: BANK OF AMERICA NA) | (a)(b) | 0.99% | 07/07/22 | 600,000 | 600,000 | |
M/F Housing RB (Whispering Lakes Apts) Series 1995 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 5,935,000 | 5,935,000 | |
Taney Cnty IDA | ||||||
RB (Keeter Heights) Series 2006 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 1.23% | 07/07/22 | 1,525,000 | 1,525,000 | |
Washington IDA | ||||||
IDRB (Missourian Publishing) Series 2006A (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 3,315,000 | 3,315,000 | |
141,140,000 | ||||||
NEBRASKA 0.3% | ||||||
Nebraska Investment Finance Auth | ||||||
M/F Housing RB (Irvington Heights Apts) Series 2007A (LOC: CITIBANK NA) | (a)(b) | 0.92% | 07/07/22 | 9,680,000 | 9,680,000 | |
Washington Cnty | ||||||
IDRB (Cargill) Series 2010 | (a)(b) | 0.98% | 07/07/22 | 3,880,000 | 3,880,000 | |
RB (Cargill) Series 2019 | (a)(b) | 0.98% | 07/07/22 | 32,000,000 | 32,000,000 | |
45,560,000 | ||||||
NEVADA 1.3% | ||||||
Clark Cnty | ||||||
Airport System Sub Lien RB Series 2008C1 (LOC: BANK OF AMERICA NA) | (a)(b) | 1.01% | 07/07/22 | 32,550,000 | 32,550,000 | |
Airport System Sub Lien RB Series 2008C2 (LOC: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 1.00% | 07/07/22 | 40,600,000 | 40,600,000 | |
IDRB (Southwest Gas Corp) Series 2008A (LOC: MUFG UNION BANK NA) | (a)(b) | 0.95% | 07/07/22 | 30,000,000 | 30,000,000 | |
LT GO Refunding Bonds Series 2016B (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,805,000 | 7,805,000 | |
LT GO Refunding Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 8,610,000 | 8,610,000 | |
Las Vegas Valley Water District | ||||||
LT GO Water Refunding Bonds Series 2015 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 13,750,000 | 13,750,000 | |
Nevada Dept of Business & Industry | ||||||
RB (Brightline West Passenger Rail) Series 2020A (ESCROW) | 0.85% | 01/26/23 | 2,000,000 | 2,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Nevada Housing Division | ||||||
Housing RB (Vista Creek Apts) Series 2007 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 1.03% | 07/07/22 | 18,515,000 | 18,515,000 | |
M/F Housing RB (Sierra Pointe Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 9,065,000 | 9,065,000 | |
M/F Housing RB (Sonoma Palms Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 16,300,000 | 16,300,000 | |
179,195,000 | ||||||
NEW HAMPSHIRE 0.8% | ||||||
New Hampshire Business Finance Auth | ||||||
RB (Lonza Biologies) Series 2010 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.97% | 07/07/22 | 10,000,000 | 10,000,000 | |
Solid Waste Disposal RB (Lonza Biologics) Series 2003 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.99% | 07/07/22 | 30,000,000 | 30,000,000 | |
Solid Waste Disposal RB (Lonza Biologics) Series 2005 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.99% | 07/07/22 | 19,500,000 | 19,500,000 | |
Solid Waste Disposal RB (Lonza Biologics) Series 2017 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b)(c) | 0.99% | 07/07/22 | 45,000,000 | 45,000,000 | |
104,500,000 | ||||||
NEW JERSEY 0.7% | ||||||
New Jersey Health Care Facilities Financing Auth | ||||||
RB (Atlantic Health) Series 2008B (LOC: BANK OF AMERICA NA) | (a)(b) | 0.90% | 07/07/22 | 37,055,000 | 37,055,000 | |
RB (Atlantic Health) Series 2008C (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.90% | 07/07/22 | 3,395,000 | 3,395,000 | |
New Jersey Housing & Mortgage Finance Agency | ||||||
M/F Housing RB Series 20135 (LOC: CITIBANK NA) | (a)(b) | 0.87% | 07/07/22 | 41,520,000 | 41,520,000 | |
New Jersey Transportation Trust Fund Auth | ||||||
Transportation System Bonds Series 2009A (LOC: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 5,440,000 | 5,440,000 | |
87,410,000 | ||||||
NEW YORK 22.7% | ||||||
Battery Park City Auth | ||||||
Jr RB Series 2019E (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,145,000 | 7,145,000 | |
Canandaigua SD | ||||||
BAN 2022 | 3.25% | 06/23/23 | 11,740,000 | 11,894,327 | ||
East Rochester Hsg Auth | ||||||
Housing RB (Park Ridge Nursing Home) Series 2008 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 3,345,000 | 3,345,000 | |
Metropolitan Transportation Auth | ||||||
Dedicated Tax Fund Refunding Bonds Series 2008A-1 (LOC: TD BANK NA) | (a)(b) | 0.60% | 07/01/22 | 14,105,000 | 14,105,000 | |
Dedicated Tax Fund Refunding Bonds Series 2008A-2A (LOC: TD BANK NA) | (a)(b) | 0.60% | 07/01/22 | 20,165,000 | 20,165,000 | |
Dedicated Tax Fund Refunding Bonds Series 2012A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 7,500,000 | 7,500,000 | |
Refunding RB Series 2020B2 (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.91% | 07/07/22 | 22,660,000 | 22,660,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Monroe Cnty IDA | ||||||
Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 13,650,000 | 13,650,000 | |
New Rochelle IDA | ||||||
IDRB (West End Phase I) Series 2006 (LOC: CITIBANK NA) | (a)(b) | 1.02% | 07/07/22 | 3,305,000 | 3,305,000 | |
New York City | ||||||
GO Bonds Fiscal 2006 Series I5 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 22,500,000 | 22,500,000 | |
GO Bonds Fiscal 2008 Series J3 | 5.00% | 08/01/22 | 550,000 | 551,915 | ||
GO Bonds Fiscal 2012 Series A4 (LOC: MUFG BANK LTD) | (a)(b) | 0.90% | 07/07/22 | 1,200,000 | 1,200,000 | |
GO Bonds Fiscal 2012 Series A5 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 1.01% | 07/07/22 | 14,165,000 | 14,165,000 | |
GO Bonds Fiscal 2013 Series A1 | 5.00% | 10/01/22 | 250,000 | 252,931 | ||
GO Bonds Fiscal 2013 Series A3 (LOC: MIZUHO BANK LTD) | (a)(b) | 0.64% | 07/01/22 | 11,395,000 | 11,395,000 | |
GO Bonds Fiscal 2014 Series G | 5.00% | 08/01/22 | 4,525,000 | 4,540,418 | ||
GO Bonds Fiscal 2014 Series I1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,135,000 | 5,135,000 | |
GO Bonds Fiscal 2014 Series J | 5.00% | 08/01/22 | 3,390,000 | 3,400,497 | ||
GO Bonds Fiscal 2015 Series 1 | 5.00% | 08/01/22 | 870,000 | 873,348 | ||
GO Bonds Fiscal 2015 Series C | 5.00% | 08/01/22 | 375,000 | 376,289 | ||
GO Bonds Fiscal 2015 Series F1 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
GO Bonds Fiscal 2015 Series F5 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.62% | 07/01/22 | 720,000 | 720,000 | |
GO Bonds Fiscal 2015 Series F7 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
GO Bonds Fiscal 2016 Series A | 5.00% | 08/01/22 | 4,490,000 | 4,503,616 | ||
GO Bonds Fiscal 2016 Series A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
GO Bonds Fiscal 2016 Series C | 5.00% | 08/01/22 | 930,000 | 933,237 | ||
GO Bonds Fiscal 2016 Series E | 5.00% | 08/01/22 | 425,000 | 426,711 | ||
GO Bonds Fiscal 2016 Series F | 4.00% | 08/01/22 | 100,000 | 100,305 | ||
GO Bonds Fiscal 2017 Series A5 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 2,000,000 | 2,000,000 | |
GO Bonds Fiscal 2018 Series E1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,935,000 | 3,935,000 | |
GO Bonds Fiscal 2018 Series F1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 5,090,000 | 5,090,000 | |
GO Bonds Fiscal 2020 Series D1 (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 44,900,000 | 44,900,000 | |
GO Bonds Fiscal 2021 Series A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 22,550,000 | 22,550,000 | |
GO Bonds Fiscal 2021 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,885,000 | 7,885,000 | |
GO Bonds Fiscal 2021 Series C (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 1,380,000 | 1,380,000 | |
GO Bonds Fiscal 2021 Series F1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,040,000 | 1,040,000 | |
GO Bonds Fiscal 2022 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,665,000 | 6,665,000 | |
GO Bonds Fiscal 2022 Series D1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,400,000 | 2,400,000 | |
GO Bonds Fiscal 2022 Series D3 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.64% | 07/01/22 | 37,650,000 | 37,650,000 | |
GO Bonds Fiscal 2022 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.65% | 07/01/22 | 60,775,000 | 60,775,000 | |
GO Bonds Series 2013 A-5 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.91% | 07/07/22 | 31,580,000 | 31,580,000 | |
New York City Housing Development Corp | ||||||
M/F Housing RB (Linden Plaza) Series 2008A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.98% | 07/07/22 | 20,490,000 | 20,490,000 | |
M/F Housing RB (Royal Charter Properties-East) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.90% | 07/07/22 | 12,100,000 | 12,100,000 | |
M/F Housing RB Series 2018C1A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,080,000 | 3,080,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
M/F Housing RB Series 2018K (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,160,000 | 3,160,000 | |
M/F Housing RB Series 2019A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,160,000 | 8,160,000 | |
M/F Housing RB Series 2020D-1-B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
M/F Housing RB Series 2021F3 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.90% | 07/07/22 | 34,955,000 | 34,955,000 | |
M/F Mortgage RB (Beacon Mews) Series 2006A (LOC: CITIBANK NA) | (a)(b) | 1.00% | 07/07/22 | 5,300,000 | 5,300,000 | |
M/F Mortgage RB (State Renaissance Court) Series 2004A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.96% | 07/07/22 | 27,000,000 | 27,000,000 | |
M/F Rental Housing RB (Rivereast Apts) Series 2006A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.96% | 07/07/22 | 39,650,000 | 39,650,000 | |
M/F Rental Housing RB (Sierra Development) Series 2003A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 40,000,000 | 40,000,000 | |
M/F Rental Housing RB (The Foundry) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 48,100,000 | 48,100,000 | |
M/F Rental Housing RB (Westport) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 110,000,000 | 110,000,000 | |
New York City IDA | ||||||
Empowerment Zone RB (Tiago Holdings) Series 2007 (LOC: TD BANK NA) | (a)(b) | 0.89% | 07/07/22 | 20,670,000 | 20,670,000 | |
New York City Municipal Water Finance Auth | ||||||
Water & Sewer System 2nd General Resolution RB Fiscal 2019 Series BB (LIQ: TD BANK NA) | (a)(b) | 0.88% | 07/07/22 | 7,330,000 | 7,330,000 | |
Water & Sewer System 2nd General Resolution RB Fiscal 2019 Series CC (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 54,100,000 | 54,100,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2013 Series BB (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 175,000 | 175,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2013 Series CC (ESCROW) (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 36,200,000 | 36,200,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA (LIQ: MIZUHO BANK LTD) | (a)(b) | 0.60% | 07/01/22 | 7,140,000 | 7,140,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 (LIQ: TD BANK NA) | (a)(b) | 0.60% | 07/01/22 | 13,225,000 | 13,225,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.64% | 07/01/22 | 9,205,000 | 9,205,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB2 (LIQ: MIZUHO BANK LTD) | (a)(b) | 0.62% | 07/01/22 | 13,075,000 | 13,075,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2016 Series AA2 (LIQ: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 39,200,000 | 39,200,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2016 Series BB1 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,130,000 | 10,130,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB1B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.64% | 07/01/22 | 8,140,000 | 8,140,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series CC1 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,760,000 | 10,760,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series EE-1 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.65% | 07/01/22 | 10,205,000 | 10,205,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series EE2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.65% | 07/01/22 | 24,480,000 | 24,480,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Water & Sewer System 2nd Resolution RB Fiscal 2022 & 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,125,000 | 5,125,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 Series AA (LIQ: UBS AG) | (a)(c)(d) | 0.94% | 07/07/22 | 625,000 | 625,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,830,000 | 5,830,000 | |
New York City Transitional Finance Auth | ||||||
Building Aid RB Fiscal 2013 Series S1 | 4.00% | 07/15/22 | 200,000 | 200,258 | ||
Building Aid RB Fiscal 2015 Series S1 | 4.00% | 07/15/22 | 250,000 | 250,278 | ||
Building Aid RB Fiscal 2015 Series S1 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 4,000,000 | 4,000,000 | |
Building Aid RB Fiscal 2022 Series S1A | 5.00% | 07/15/22 | 750,000 | 751,038 | ||
Future Tax Sec Sub Bonds Fiscal Series 2018C3 & 2020B1 & 2021C1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 51,120,000 | 51,120,000 | |
Future Tax Secured Sub Bonds Fiscal 2012 Series E1 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 940,000 | 940,000 | |
Future Tax Secured Sub Bonds Fiscal 2015 Series C | 5.00% | 11/01/22 | 725,000 | 735,948 | ||
Future Tax Secured Sub Bonds Fiscal 2016 Series A-5 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.68% | 07/01/22 | 700,000 | 700,000 | |
Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 35,550,000 | 35,550,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series A1 | 5.00% | 08/01/22 | 225,000 | 225,878 | ||
Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 71,275,000 | 71,275,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 595,000 | 595,000 | |
Future Tax Secured Sub Bonds Fiscal 2020 Series B1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,330,000 | 3,330,000 | |
Future Tax Secured Sub Bonds Fiscal 2020 Series B1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,335,000 | 8,335,000 | |
Future Tax Secured Sub Bonds Fiscal 2020 Series C2 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,945,000 | 3,945,000 | |
Future Tax Secured Sub RB Fiscal 2012 Series F1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 750,000 | 750,000 | |
Future Tax Secured Sub RB Fiscal 2018 Series C6 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.89% | 07/07/22 | 13,310,000 | 13,310,000 | |
Future Tax Secured Sub RB Fiscal 2021 Series D1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 6,740,000 | 6,740,000 | |
Future Tax Secured Sub RB Fiscal 2022 Series B1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
RB Fiscal 2018 Sub Series S4A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 1,760,000 | 1,760,000 | |
New York City Trust for Cultural Resources | ||||||
Refunding RB (American Museum of Natural History) Series 2014B2 (SIFMA Municipal Swap Index + 0.04%) | (a) | 0.95% | 07/07/22 | 08/29/22 | 18,000,000 | 18,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New York State Dormitory Auth | ||||||
NYC Court Facilities Lease RB Series 2005B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 14,000,000 | 14,000,000 | |
RB (Columbia Univ) Series 2018B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,400,000 | 8,400,000 | |
RB (Royal Charter Properties-East) Series 2006A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.90% | 07/07/22 | 50,840,000 | 50,840,000 | |
RB (Teresian House) Series 2003 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 11,695,000 | 11,695,000 | |
State Personal Income Tax RB Series 2013A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,000,000 | 6,000,000 | |
State Personal Income Tax RB Series 2016A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.95% | 07/07/22 | 5,665,000 | 5,665,000 | |
State Personal Income Tax RB Series 2018A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,500,000 | 1,500,000 | |
State Personal Income Tax RB Series 2018A, 2021E, 2022A, 2019A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 38,565,000 | 38,565,000 | |
State Personal Income Tax RB Series 2019D (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,290,000 | 7,290,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 16,130,000 | 16,130,000 | |
State Personal Income Tax RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 18,875,000 | 18,875,000 | |
State Personal Income Tax RB Series 2020A & 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 24,970,000 | 24,970,000 | |
State Personal Income Tax RB Series 2020A 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,265,000 | 9,265,000 | |
State Personal Income Tax RB Series 2021E (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
State Personal Income Tax RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,805,000 | 4,805,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,395,000 | 10,395,000 | |
State Sales Tax RB Series 2014A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,300,000 | 3,300,000 | |
State Sales Tax RB Series 2015B (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,905,000 | 10,905,000 | |
State Sales Tax RB Series 2018C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
New York State Environmental Facilities Corp | ||||||
State Clean Water & Drinking Water Revolving Funds Sub RB Series 2017E (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,250,000 | 4,250,000 | |
State Clean Water & Drinking Water Revolving Funds Sub RB Series 2022A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 1,750,000 | 1,750,000 | |
New York State HFA | ||||||
Housing RB (10 Barclay St) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.90% | 07/07/22 | 45,015,000 | 45,015,000 | |
Housing RB (10 Liberty St) Series 2003A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.90% | 07/07/22 | 9,930,000 | 9,930,000 | |
Housing RB (1500 Lexington Ave) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 35,900,000 | 35,900,000 | |
Housing RB (250 W 50th Street) 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 82,700,000 | 82,700,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Housing RB (250 W 93rd St) Series 2005A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.94% | 07/07/22 | 47,425,000 | 47,425,000 | |
Housing RB (316 11th Ave) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 40,505,000 | 40,505,000 | |
Housing RB (39th St) Series 2000A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 23,700,000 | 23,700,000 | |
Housing RB (39th Street Associates) Series 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 40,500,000 | 40,500,000 | |
Housing RB (55 W 25th Street) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 69,500,000 | 69,500,000 | |
Housing RB (600 W 42nd Street) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 91,695,000 | 91,695,000 | |
Housing RB (600 W 42nd Street) Series 2009A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 650,000 | 650,000 | |
Housing RB (750 6th Ave) Series 1998A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.95% | 07/07/22 | 37,500,000 | 37,500,000 | |
Housing RB (750 6th Ave) Series 1999A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.95% | 07/07/22 | 7,000,000 | 7,000,000 | |
Housing RB (900 8th Avenue) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 82,400,000 | 82,400,000 | |
Housing RB (Caroline Apts) Series 2008A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.98% | 07/07/22 | 16,900,000 | 16,900,000 | |
Housing RB (Clinton Green North) Series 2006A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 47,000,000 | 47,000,000 | |
Housing RB (Clinton Green) Series 2006A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 45,500,000 | 45,500,000 | |
Housing RB (E 39th St) Series 1999A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 33,700,000 | 33,700,000 | |
Housing RB (Helena) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 77,200,000 | 77,200,000 | |
Housing RB (Historic Front St) Series 2003A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.91% | 07/07/22 | 4,400,000 | 4,400,000 | |
Housing RB (Mccarthy Manor Apts) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.99% | 07/07/22 | 6,540,000 | 6,540,000 | |
Housing RB (Related-W 20th St) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 50,150,000 | 50,150,000 | |
Housing RB (Saville Housing) Series 2002A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.95% | 07/07/22 | 23,400,000 | 23,400,000 | |
Housing RB (Sea Park West) Series 2004A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.94% | 07/07/22 | 14,100,000 | 14,100,000 | |
Housing RB (The Helena Apts) Series 2003A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 42,000,000 | 42,000,000 | |
Housing RB (Theatre Row Tower) Series 2000A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 38,300,000 | 38,300,000 | |
Housing RB (Tribeca Park) Series 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 26,800,000 | 26,800,000 | |
Housing RB (Worth Street) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 34,400,000 | 34,400,000 | |
Housing RB Series 2005A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 20,500,000 | 20,500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New York State Mortgage Agency | ||||||
Homeowner Mortgage RB Series 210 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 1.02% | 07/07/22 | 25,490,000 | 25,490,000 | |
Homeowner Mortgage RB Series 236 (LIQ: UBS AG) | (a)(b) | 0.93% | 07/07/22 | 3,900,000 | 3,900,000 | |
New York State Power Auth | ||||||
CP Series 1 | 0.80% | 07/06/22 | 9,591,000 | 9,591,000 | ||
CP Series 1 | 0.80% | 07/13/22 | 28,039,000 | 28,039,000 | ||
CP Series 2 | 1.00% | 07/06/22 | 15,067,000 | 15,067,000 | ||
CP Series 2 | 1.10% | 07/11/22 | 75,816,000 | 75,816,000 | ||
RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,075,000 | 1,075,000 | |
RB Series 2020A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 6,200,000 | 6,200,000 | |
New York State Thruway Auth | ||||||
State Personal Income Tax RB Series 2021A1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 18,985,000 | 18,985,000 | |
State Personal Income Tax RB Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 25,565,000 | 25,565,000 | |
New York State Urban Development Corp | ||||||
State Personal Income Tax RB Series 2013A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,700,000 | 4,700,000 | |
State Personal Income Tax RB Series 2020C (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 6,760,000 | 6,760,000 | |
State Sales Tax RB Series 2019A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 5,275,000 | 5,275,000 | |
State Sales Tax RB Series 2019A 2021A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 13,220,000 | 13,220,000 | |
State Sales Tax RB Series 2021A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 24,755,000 | 24,755,000 | |
Nuveen New York AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 3 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(c) | 0.96% | 07/07/22 | 10,300,000 | 10,300,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.95% | 07/07/22 | 5,300,000 | 5,300,000 | |
Port Auth of New York & New Jersey | ||||||
Consolidated Bonds 178th Series (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.98% | 07/07/22 | 1,660,000 | 1,660,000 | |
Consolidated Bonds 194th Series (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.99% | 07/07/22 | 415,000 | 415,000 | |
Consolidated Bonds 206th Series (LIQ: CITIBANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 2,500,000 | 2,500,000 | |
Consolidated Bonds 206th Series (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.95% | 07/07/22 | 4,790,000 | 4,790,000 | |
Consolidated Bonds 207th Series (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.98% | 07/07/22 | 12,260,000 | 12,260,000 | |
Consolidated Bonds 214th Series (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 1.01% | 07/07/22 | 2,275,000 | 2,275,000 | |
Consolidated Bonds 218th & 220th Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.99% | 07/07/22 | 7,550,000 | 7,550,000 | |
Consolidated Bonds 218th Series (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.98% | 07/07/22 | 10,845,000 | 10,845,000 | |
Consolidated Bonds 221st & 223rd Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.99% | 07/07/22 | 7,555,000 | 7,555,000 | |
Consolidated Bonds 221st Series (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.98% | 07/07/22 | 760,000 | 760,000 | |
Consolidated Bonds 230th Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 770,000 | 770,000 | |
Consolidated Bonds 231st Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.99% | 07/07/22 | 15,945,000 | 15,945,000 | |
Consolidated Bonds 232nd Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.99% | 07/07/22 | 800,000 | 800,000 | |
CP Series A | 1.25% | 07/21/22 | 4,035,000 | 4,035,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Ravena-Coeymans-Selkirk CSD | ||||||
BAN 2021 | 1.50% | 08/12/22 | 11,464,000 | 11,477,650 | ||
Rockland Cnty IDA | ||||||
RB (Northern Riverview) Series 1999 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 5,265,000 | 5,265,000 | |
Rondout Valley CSD | ||||||
GO BANs 2022 | 3.50% | 06/28/23 | 14,000,000 | 14,084,282 | ||
Sales Tax Asset Receivable Corp | ||||||
Sales Tax Asset RB Fiscal 2015 Series A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,330,000 | 4,330,000 | |
Triborough Bridge & Tunnel Auth | ||||||
General RB (MTA Bridges & Tunnels) Series 2021A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 3,200,000 | 3,200,000 | |
General RB Series 2003B1 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.65% | 07/01/22 | 4,600,000 | 4,600,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2021A1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,035,000 | 5,035,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,175,000 | 3,175,000 | |
Sr Lien RB (MTA Bridges & Tunnels) Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,960,000 | 2,960,000 | |
Sr. Lien RB Series 2022C (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,940,000 | 2,940,000 | |
Warren & Washington Cnty IDA | ||||||
Civic Facility RB (Glen at Hiland Meadows) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 1.05% | 07/07/22 | 2,735,000 | 2,735,000 | |
3,044,726,926 | ||||||
NORTH CAROLINA 0.2% | ||||||
North Carolina | ||||||
Limited Obligation Refunding Bonds Series 2014C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,800,000 | 2,800,000 | |
Limited Obligation Refunding Bonds Series 2017B (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 4,800,000 | 4,800,000 | |
North Carolina Capital Facilities Finance Agency | ||||||
RB (Duke Univ) Series 2015B (ESCROW) (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
RB (Duke Univ) Series 2015B (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,499,000 | 4,499,000 | |
North Carolina Medical Care Commission | ||||||
Health Care Facilities Refunding RB (Rex Healthcare) Series 2020A (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.96% | 07/07/22 | 2,330,000 | 2,330,000 | |
North Carolina Ports Auth | ||||||
Exempt Facilities RB (Wilmington Bulk) Series 2001A (LOC: TRUIST BANK) | (a)(b) | 1.07% | 07/07/22 | 295,000 | 295,000 | |
Yancey Cnty Industrial Facilities & Pollution Control Financing Auth | ||||||
IDRB (Altec Industries) Series 2007 (LOC: TRUIST BANK) | (a)(b) | 1.07% | 07/07/22 | 7,000,000 | 7,000,000 | |
29,724,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
NORTH DAKOTA 0.1% | ||||||
Richland Cnty | ||||||
RB (Minn-Dak Farmers Coop) Series 2010B (LOC: COBANK ACB) | (a)(b) | 0.97% | 07/07/22 | 5,765,000 | 5,765,000 | |
RB (Minn-Dak Farmers Coop) Series 2010C (LOC: COBANK ACB) | (a)(b) | 0.97% | 07/07/22 | 4,765,000 | 4,765,000 | |
10,530,000 | ||||||
OHIO 1.8% | ||||||
Akron, Bath & Copley Jt Township Hospital District | ||||||
Hospital RB (Summa Health) Series 2017B (LOC: BMO HARRIS BANK NA) | (a)(b) | 0.91% | 07/07/22 | 15,355,000 | 15,355,000 | |
Allen Cnty | ||||||
Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,255,000 | 7,255,000 | |
Berea SD | ||||||
ULT GO Bonds Series 2017 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
Columbus Regional Airport Auth | ||||||
Airport Development RB (FlightSafety) Series 2015B | (a)(b) | 1.01% | 07/07/22 | 15,040,000 | 15,040,000 | |
Forrest Hills SD | ||||||
ULT GO Bonds Series 2015 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,300,000 | 5,300,000 | |
Franklin Cnty | ||||||
Hospital Facilities RB (OhioHealth) Series 2015 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 2,665,000 | 2,665,000 | |
Hospital Facilities RB (OhioHealth) Series 2018C | (a)(b) | 0.85% | 07/07/22 | 20,150,000 | 20,150,000 | |
Hospital Facilities Refunding RB (OhioHealth) Series 2011C | (a)(b) | 0.85% | 07/07/22 | 24,870,000 | 24,870,000 | |
RB (St George Commons Apts) Series 2007 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.08% | 07/07/22 | 3,100,000 | 3,100,000 | |
RB (Trinity Health) Series 2013OH | 1.40% | 08/01/22 | 11,250,000 | 11,250,000 | ||
Marion Cnty | ||||||
M/F Housing RB (Avalon Lakes) Series 2006 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.99% | 07/07/22 | 7,425,000 | 7,425,000 | |
Montgomery Cnty | ||||||
Hospital Facililties Refunding RB (Kettering Health) Series 2011B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,575,000 | 10,575,000 | |
Northeast Ohio Regional Sewer District | ||||||
Wastewater Refunding RB Series 2017 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 3,165,000 | 3,165,000 | |
Ohio | ||||||
Hospital RB (University Hospitals Health System) Series 2012A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.95% | 07/07/22 | 3,000,000 | 3,000,000 | |
Hospital RB Series 2021A (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.96% | 07/07/22 | 1,250,000 | 1,250,000 | |
Ohio HFA | ||||||
Residential Mortgage RB Series 2017C (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 1.00% | 07/07/22 | 2,500,000 | 2,500,000 | |
Ohio Higher Educational Facility Commission | ||||||
Hospital RB (Cleveland Clinic Health System) Series 2008B5 | 1.05% | 07/13/22 | 18,905,000 | 18,905,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2008B6 | 1.05% | 07/13/22 | 23,190,000 | 23,190,000 | ||
Ohio State Air Quality Development Auth | ||||||
Exempt Facilities RB (Cargill) Series 2021 | (a)(b) | 0.98% | 07/07/22 | 51,000,000 | 51,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Ohio Univ | ||||||
General RB Series 2017A (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (a)(c)(d) | 1.11% | 07/07/22 | 12/01/22 | 5,000,000 | 5,000,000 |
234,995,000 | ||||||
OREGON 0.5% | ||||||
Centennial SD #28JT | ||||||
GO Refunding Bonds Series 2020 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
Oregon | ||||||
GO Bonds Series 2015O | 5.00% | 08/01/22 | 600,000 | 601,879 | ||
GO Bonds Series 2019G (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 15,000,000 | 15,000,000 | |
Oregon Facilities Auth | ||||||
RB (Quatama Housing LP) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.01% | 07/07/22 | 14,165,000 | 14,165,000 | |
Oregon Health, Housing, Educational & Cultural Facilities Auth | ||||||
RB (Assumption Village) Series 2001A (LOC: MUFG UNION BANK NA) | (a)(b) | 0.97% | 07/07/22 | 2,015,000 | 2,015,000 | |
Portland | ||||||
M/F Refunding RB (Village of Lovejoy Fountain) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 1.00% | 07/07/22 | 13,050,000 | 13,050,000 | |
Portland CCD | ||||||
GO Bonds Series 2013 (ESCROW) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 6,835,000 | 6,835,000 | |
61,666,879 | ||||||
PENNSYLVANIA 1.1% | ||||||
Allegheny Cnty Hospital Development Auth | ||||||
RB (Concordia Lutheran Obligated Group) Series 2016A (LOC: TRUIST BANK) | (a)(b) | 1.01% | 07/07/22 | 9,470,000 | 9,470,000 | |
Butler Cnty Industrial Development Auth | ||||||
Refunding RB (Concordia Lutheran Health & Human Care) Series 2008A (LOC: TRUIST BANK) | (a)(b) | 1.01% | 07/07/22 | 11,495,000 | 11,495,000 | |
Central Bradford Progress Auth | ||||||
RB Series 2021B (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 1,575,000 | 1,575,000 | |
Chester Cnty Health & Ed | ||||||
RB (Tel Hai Retirement Community) Series 2020 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 13,000,000 | 13,000,000 | |
Cumberland Cnty Municipal Auth | ||||||
RB (SpiriTrust Lutheran) Series 2019 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 67,000,000 | 67,000,000 | |
Lancaster Cnty Hospital Auth | ||||||
Sr Living Facility RB (Quarryville Presbyterian Retirement Community) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.96% | 07/07/22 | 700,000 | 700,000 | |
Lycoming Cnty Auth | ||||||
RB (Lycoming College) Series 2013S1 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 1.00% | 07/07/22 | 4,915,000 | 4,915,000 | |
Montgomery Cnty Redevelopment Auth | ||||||
M/F Housing RB (Forge Gate Apts) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 4,615,000 | 4,615,000 | |
M/F Housing RB (Kingswood Apts) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 8,210,000 | 8,210,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Northampton Cnty | ||||||
RB (Binney & Smith) Series 1997A (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 1.10% | 07/06/22 | 07/07/22 | 1,165,000 | 1,165,000 |
Pennsylvania Economic Development Financing Auth | ||||||
RB (Salem Rd) Series 2007D1 (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 1,000,000 | 1,000,000 | |
RB 2005 Series B2 (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 1,400,000 | 1,400,000 | |
Pennsylvania HFA | ||||||
S/F Mortgage RB Series 2015-118A | 2.60% | 10/01/22 | 250,000 | 251,402 | ||
S/F Mortgage RB Series 2017-123A | 2.25% | 10/01/22 | 160,000 | 160,738 | ||
S/F Mortgage RB Series 2017-125A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.95% | 07/07/22 | 6,775,000 | 6,775,000 | |
S/F Mortgage RB Series 2020-132A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,620,000 | 1,620,000 | |
S/F Mortgage RB Series 2022-139A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 7,625,000 | 7,625,000 | |
Pennsylvania Higher Educational Facilities Auth | ||||||
RB (Assoc of Indep Colleges & Univs of PA) Series 2001I1 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 1.00% | 07/07/22 | 3,400,000 | 3,400,000 | |
Pennsylvania State Univ | ||||||
RB Series 2018 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,000,000 | 3,000,000 | |
147,377,140 | ||||||
RHODE ISLAND 0.1% | ||||||
Rhode Island Health & Educational Building Corp | ||||||
Educational Facilities RB (Brown Univ) 2017A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,450,000 | 9,450,000 | |
SOUTH CAROLINA 0.4% | ||||||
Charleston Educational Excellence Financing Corp | ||||||
Installment Purchase Refunding RB Series 2013B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 3,100,000 | 3,100,000 | |
Patriots Energy Group Financing Agency | ||||||
Gas Supply RB Series 2018 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.96% | 07/07/22 | 7,045,000 | 7,045,000 | |
South Carolina Jobs Economic Development Auth | ||||||
IRB (South Carolina Generating) Series 2008 (LOC: TD BANK NA) | (a)(b) | 0.93% | 07/07/22 | 18,265,000 | 18,265,000 | |
RB (Holcim) Series 2003 (LOC: COMERICA BANK) | (a)(b) | 0.94% | 07/07/22 | 25,000,000 | 25,000,000 | |
South Carolina Transportation Infrastructure Bank | ||||||
Refunding RB Series 2017A (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (a)(c)(d) | 1.11% | 07/07/22 | 10/03/22 | 3,000,000 | 3,000,000 |
56,410,000 | ||||||
SOUTH DAKOTA 0.3% | ||||||
South Dakota Economic Development Finance Auth | ||||||
Solid Waste Disposal RB (Riverview LLP) Series 2021 (LOC: AGRIBANK FCB) | (a)(b) | 1.03% | 07/07/22 | 11,250,000 | 11,250,000 | |
Solid Waste Disposal RB (Riverview) Series 2021 (LOC: AGRIBANK FCB) | (a)(b) | 1.03% | 07/07/22 | 22,500,000 | 22,500,000 | |
South Dakota Housing Development Auth | ||||||
Homeowner Mortgage RB Series 2015E (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.92% | 07/07/22 | 8,900,000 | 8,900,000 | |
42,650,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
TENNESSEE 0.8% | ||||||
Blount Cnty Public Building Auth | ||||||
Public Improvement Bonds Series E6A (LOC: TRUIST BANK) | (a)(b) | 1.03% | 07/07/22 | 4,460,000 | 4,460,000 | |
Greeneville Health & Educational Facilities Board | ||||||
Hospital RB (Ballad Health) Series 2018A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.95% | 07/07/22 | 1,700,000 | 1,700,000 | |
Johnson City Health & Educational Facilities Board | ||||||
Hospital RB (Ballad Health) Series 2022C (LOC: TRUIST BANK) | (a)(b) | 0.91% | 07/07/22 | 25,575,000 | 25,575,000 | |
Memphis | ||||||
GO CP Series A (LIQ: STATE STREET BANK AND TRUST COMPANY) | 1.12% | 07/06/22 | 13,200,000 | 13,200,000 | ||
GO Refunding Bond Series 2015C (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,250,000 | 2,250,000 | |
Memphis Health, Educational & Housing Facility Board | ||||||
M/F Housing RB (Ashland Lake II Apts) Series 2008A (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 11,500,000 | 11,500,000 | |
Metro Government of Nashville & Davidson Cnty | ||||||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 1.07% | 07/07/22 | 12,500,000 | 12,500,000 | ||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 1.13% | 07/19/22 | 8,000,000 | 8,000,000 | ||
GO Improvement Bonds Series 2017 | 5.00% | 07/01/22 | 1,000,000 | 1,000,000 | ||
Sevier Cnty Public Building Auth | ||||||
Public Improvement Bonds Series VIIB1 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.93% | 07/07/22 | 20,675,000 | 20,675,000 | |
100,860,000 | ||||||
TEXAS 19.3% | ||||||
Alamo CCD | ||||||
LT GO Refunding Bonds Series 2012 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Arlington Higher Education Finance Corp | ||||||
Education RB (Riverwalk Education Foundation) Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,225,000 | 2,225,000 | |
Austin ISD | ||||||
ULT GO Bonds Series 2022A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/01/22 | 1,000,000 | 1,003,841 | ||
ULT GO Refunding Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/01/22 | 1,785,000 | 1,790,406 | ||
Bexar Cnty Housing Finance Corp | ||||||
M/F Housing RB Series 1996 (LOC: NORTHERN TRUST COMPANY (THE)) | (a)(b) | 1.00% | 07/07/22 | 10,375,000 | 10,375,000 | |
Calhoun Cnty Navigation District | ||||||
Environmental Facilities RB (Formosa Plastics) Series 2006 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.97% | 07/07/22 | 28,500,000 | 28,500,000 | |
RB (Formosa Plastics Corp) Series 2002 (LOC: CITIBANK NA) | (a)(b) | 0.90% | 07/07/22 | 10,000,000 | 10,000,000 | |
Solid Waste Disposal RB (Formosa Plastics) Series 2000 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.97% | 07/07/22 | 25,000,000 | 25,000,000 | |
Solid Waste Disposal RB (Formosa Plastics) Series 2001 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.97% | 07/07/22 | 24,500,000 | 24,500,000 | |
Calhoun Cnty Navigation IDA | ||||||
Port RB (Formosa Plastics) Series 2011C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(c) | 0.91% | 07/07/22 | 27,500,000 | 27,500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Calhoun Port Auth | ||||||
Environmental Facilities RB (Formosa Plastics) Series 2008 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.97% | 07/07/22 | 42,300,000 | 42,300,000 | |
Environmental Facilities RB (Formosa Plastics) Series 2011B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(c) | 0.91% | 07/07/22 | 35,000,000 | 35,000,000 | |
Environmental Facilities RB (Formosa Plastics) Series 2012 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 0.97% | 07/07/22 | 50,000,000 | 50,000,000 | |
Port RB (Formosa Plastics) Series 2007A (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 28,275,000 | 28,275,000 | |
Capital Area Housing Finance Corp | ||||||
M/F Housing RB (Encino Pointe Apts) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 13,815,000 | 13,815,000 | |
College Station ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 1,030,000 | 1,034,445 | ||
Corpus Christi ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 150,000 | 150,871 | ||
ULT GO Refunding Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 175,000 | 176,005 | ||
Cypress-Fairbanks ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 28,300,000 | 28,300,000 | |
Dallam Cnty IDC | ||||||
Economic Development RB (Hillmar Cheese) Series 2010 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.98% | 07/07/22 | 20,000,000 | 20,000,000 | |
Economic Development Refunding RB (Hilmar Cheese) Series 2009 (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.98% | 07/07/22 | 24,500,000 | 24,500,000 | |
IDRB (Dalhart Jersey Ranch) Series 2006 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 610,000 | 610,000 | |
IDRB (Morning Star Dairy) Series 2015 (LOC: FARM CREDIT BANK OF TEXAS) | (a)(b) | 1.03% | 07/07/22 | 5,350,000 | 5,350,000 | |
IDRB (Morning Star Dairy) Series 2018 (LOC: FARM CREDIT BANK OF TEXAS) | (a)(b) | 1.03% | 07/07/22 | 10,000,000 | 10,000,000 | |
Dallas | ||||||
Waterworks & Sewer CP Notes Series F1 (LIQ: JPMORGAN CHASE BANK NA) | 1.08% | 08/03/22 | 5,200,000 | 5,200,000 | ||
Waterworks & Sewer CP Notes Series G (LIQ: STATE STREET BANK AND TRUST COMPANY) | 1.08% | 08/03/22 | 4,900,000 | 4,900,000 | ||
Dallas Area Rapid Transit | ||||||
Sr Lien Sales Tax Refunding RB Series 2007 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
Sr Lien Sales Tax Refunding RB Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,905,000 | 4,905,000 | |
Sr Lien Sales Tax Refunding RB Series 2021B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,580,000 | 8,580,000 | |
Sr. Lien Sales Tax Refunding RB Series 2021B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,375,000 | 3,375,000 | |
Dallas ISD | ||||||
CP Series IA (LIQ: BANK OF AMERICA NA) | 0.70% | 07/01/22 | 14,000,000 | 14,000,000 | ||
Dallas-Fort Worth Int’l Airport Facility Improvement Corp | ||||||
Airport Facility RB (FlightSafety) Series 1999 | (a)(b) | 1.00% | 07/07/22 | 6,180,000 | 6,180,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Ennis ISD | ||||||
ULT GO Refunding Bonds Series 2015 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 200,000 | 201,133 | ||
Fort Bend Cnty | ||||||
LT Refunding Bonds 2015B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,790,000 | 7,790,000 | |
Frisco ISD | ||||||
ULT GO Refunding Bonds Series 2002 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 0.27% | 08/15/22 | 615,000 | 614,795 | ||
Georgetown ISD | ||||||
ULT School Building Bonds Series 2019A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 100,000 | 100,464 | ||
Grand Parkway Transportation Corp | ||||||
1st Tier Toll Refunding RB Series 2020C (LOC: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 8,070,000 | 8,070,000 | |
Sub Tier Toll RB Series 2017A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 5,305,000 | 5,305,000 | |
Sub Tier Toll RB Series 2018A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 19,765,000 | 19,765,000 | |
Gulf Coast IDA | ||||||
RB (ExxonMobil) Series 2012 | (a)(b) | 0.65% | 07/01/22 | 22,965,000 | 22,965,000 | |
Gulf Coast Waste Disposal Auth | ||||||
RB (ExxonMobil) Series 2000 | (a)(b) | 0.66% | 07/01/22 | 9,230,000 | 9,230,000 | |
Hale Cnty IDC | ||||||
Economic Development RB (Silverado Developers) Series 2008 (LOC: COOPERATIEVE RABOBANK UA) | (a)(b) | 1.03% | 07/07/22 | 5,400,000 | 5,400,000 | |
IDRB (Struikmans Ramona) Series 2003 (LOC: COOPERATIEVE RABOBANK UA) | (a)(b) | 1.03% | 07/07/22 | 3,000,000 | 3,000,000 | |
Harris Cnty | ||||||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.15% | 07/06/22 | 1,100,000 | 1,100,000 | ||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.20% | 07/06/22 | 700,000 | 700,000 | ||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.30% | 08/03/22 | 32,970,000 | 32,970,000 | ||
GO Refunding Bonds Series 2015A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,785,000 | 8,785,000 | |
Toll Road Sr Lien Refunding RB Series 2018A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,905,000 | 3,905,000 | |
Harris Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital RB (Texas Childrens Hospital) Series 2021C (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.63% | 07/01/22 | 6,300,000 | 6,300,000 | |
Hospital RB (Texas Children’s Hospital) Series 2021D (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 27,770,000 | 27,770,000 | |
RB (Houston Methodist) Series 2020B | (a)(b) | 0.67% | 07/01/22 | 12,840,000 | 12,840,000 | |
Refunding RB (Methodist Hospital) Series 2009C1 | 0.85% | 07/01/22 | 189,760,000 | 189,760,000 | ||
Refunding RB (Methodist Hospital) Series 2009C2 | 0.85% | 07/01/22 | 60,515,000 | 60,515,000 | ||
Harris Cnty Health Facilities Development Corp | ||||||
RB (Methodist Hospital) Series 2008A2 | (a)(b) | 0.67% | 07/01/22 | 1,850,000 | 1,850,000 | |
Harris Cnty Housing Finance Corp | ||||||
M/F Housing RB (Baypointe Apts) Series 2006 (LOC: CITIBANK NA) | (a)(b) | 0.95% | 07/07/22 | 9,835,000 | 9,835,000 | |
M/F Housing RB (Lafayette Village Apts) Series 2006 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 11,415,000 | 11,415,000 | |
M/F Housing RB (Village At Cornerstone Apts) Series 2004 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 6,015,000 | 6,015,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Harris Cnty Toll Road Auth | ||||||
1st Lien Revenue CP Series K (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.35% | 09/08/22 | 23,760,000 | 23,760,000 | ||
Houston | ||||||
Airport System Sr Lien CP Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.04% | 07/01/22 | 9,000,000 | 9,000,000 | ||
Airport System Sr Lien CP Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.23% | 07/21/22 | 20,000,000 | 20,000,000 | ||
Airport System Sr Lien CP Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.30% | 07/26/22 | 10,000,000 | 10,000,000 | ||
Airport System Sr Lien CP Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.20% | 08/04/22 | 6,000,000 | 6,000,000 | ||
Airport System Sr Lien CP Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.45% | 08/10/22 | 20,000,000 | 20,000,000 | ||
GO Refunding Bonds Series 2016A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 12,400,000 | 12,400,000 | |
Houston Texas Housing Finance Corp | ||||||
M/F Housing (Fairlake Cove Apts) RB Series 2005 (LOC: CITIBANK NA) | (a)(b) | 0.95% | 07/07/22 | 7,125,000 | 7,125,000 | |
Lamar Consolidated ISD | ||||||
ULT GO Refunding Bonds Series 2015 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Leander ISD | ||||||
ULT GO Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,000,000 | 7,000,000 | |
ULT GO Refunding Bonds Series 2016A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 0.33% | 08/16/22 | 100,000 | 99,958 | ||
Lewisville ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 1,100,000 | 1,104,840 | ||
Liberty Hill ISD | ||||||
ULT GO Refunding Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/01/22 | 400,000 | 401,186 | ||
Love Field Airport Modernization Corp | ||||||
Airport System CP (LOC: JPMORGAN CHASE BANK NA) | 1.53% | 09/16/22 | 26,152,000 | 26,152,000 | ||
Lower Colorado River Auth | ||||||
CP Series B (LOC: STATE STREET BANK AND TRUST COMPANY) | 1.12% | 07/07/22 | 5,033,000 | 5,033,000 | ||
CP Series B (LOC: STATE STREET BANK AND TRUST COMPANY) | 1.33% | 09/08/22 | 21,980,000 | 21,980,000 | ||
Transmission Contract Revenue CP (LOC: STATE STREET BANK AND TRUST COMPANY; JPMORGAN CHASE BANK NA) | 1.40% | 08/23/22 | 10,000,000 | 10,000,000 | ||
Lower Neches Valley Auth | ||||||
Exempt Facilities Refunding RB (ExxonMobil) Series 2001B | (a)(b) | 0.66% | 07/01/22 | 61,775,000 | 61,775,000 | |
RB (ExxonMobil) Series 2012 | (a)(b) | 0.63% | 07/01/22 | 2,090,000 | 2,090,000 | |
Lower Neches Valley Auth Industrial Development Corp | ||||||
RB (ExxonMobil) Series 2010 | (a)(b) | 0.63% | 07/01/22 | 21,745,000 | 21,745,000 | |
Midlothian ISD | ||||||
ULT GO Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Montgomery ISD | ||||||
ULT GO Refunding Bonds Series 2015 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,500,000 | 4,500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
North East ISD | ||||||
ULT Refunding Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/01/22 | 175,000 | 175,692 | ||
Northside ISD | ||||||
ULT Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/01/22 | 600,000 | 601,850 | ||
Northwest ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,935,000 | 3,935,000 | |
Parker Cnty | ||||||
ULT GO Road Bonds Series 2017 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,990,000 | 7,990,000 | |
Port of Port Arthur Navigation District | ||||||
Exempt Facilities RB (Total Petrochemicals USA) Series 2010 | (a)(b) | 1.01% | 07/07/22 | 44,800,000 | 44,800,000 | |
Exempt Facilities RB (Total USA) Series 2011 | (a)(b) | 1.00% | 07/07/22 | 48,685,000 | 48,685,000 | |
Exempt Facilities RB (Total USA) Series 2012 | (a)(b)(f) | 0.95% | 07/07/22 | 140,895,000 | 140,895,000 | |
Exempt Facilities RB (Total USA) Series 2012A | (a)(b) | 1.00% | 07/07/22 | 74,200,000 | 74,200,000 | |
Exempt Facilities RB (Total USA) Series 2012B | (a)(b) | 1.00% | 07/07/22 | 30,000,000 | 30,000,000 | |
RB (ATOFINA Petrochemicals) Series 2003B | (a)(b) | 1.06% | 07/07/22 | 10,000,000 | 10,000,000 | |
RB (TOTAL Petrochemicals USA) Series 2008 | (a)(b) | 1.01% | 07/07/22 | 50,000,000 | 50,000,000 | |
San Antonio | ||||||
Electric & Gas Jr Lien Refunding RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,440,000 | 5,440,000 | |
GO Bonds Series 2018 | 5.00% | 08/01/22 | 715,000 | 717,248 | ||
Water System CP Series A (LIQ: JPMORGAN CHASE BANK NA) | 0.82% | 07/06/22 | 41,100,000 | 41,100,000 | ||
Water System CP Series A (LIQ: JPMORGAN CHASE BANK NA) | 1.30% | 08/18/22 | 5,000,000 | 5,000,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 1.20% | 08/02/22 | 9,175,000 | 9,175,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 1.55% | 10/03/22 | 25,000,000 | 25,000,000 | ||
Water System Jr Lien Refunding & RB Series 2016C (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.95% | 07/07/22 | 555,000 | 555,000 | |
San Antonio Housing Finance Corp | ||||||
M/F Housing Mortgage RB (Artisan) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 13,200,000 | 13,200,000 | |
San Antonio Public Facilities Corp | ||||||
Improvement and Refunding Lease RB Series 2012 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 18,535,000 | 18,535,000 | |
Southeast Housing Finance Corp | ||||||
M/F Housing RB (Mansions at Moses Lake Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.99% | 07/07/22 | 10,100,000 | 10,100,000 | |
Tarrant Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital Refunding RB (Baylor Scott & White Health) Series 2019B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,300,000 | 1,300,000 | |
RB (Christus Health) Series 2016D (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
RB (Texas Health Resources) Series 2008C | (a)(b) | 0.86% | 07/07/22 | 24,100,000 | 24,100,000 | |
RB (Texas Health Resources) Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,815,000 | 8,815,000 | |
RB (Texas Health) Series 2017B | (a)(b) | 0.93% | 07/07/22 | 18,280,000 | 18,280,000 | |
Refunding RB (Christus Health) Series 2008C2 (LOC: BANK OF NEW YORK MELLON/THE) | (a)(b) | 0.94% | 07/07/22 | 15,000,000 | 15,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Texas | ||||||
GO Bonds Series 2002 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.95% | 07/07/22 | 4,500,000 | 4,500,000 | |
GO Bonds Series 2005B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.96% | 07/07/22 | 17,660,000 | 17,660,000 | |
GO Bonds Series 2013A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.95% | 07/07/22 | 500,000 | 500,000 | |
GO Bonds Series 2017 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.98% | 07/07/22 | 80,000,000 | 80,000,000 | |
GO Bonds Series 2018 (LIQ: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.98% | 07/07/22 | 50,000,000 | 50,000,000 | |
GO Bonds Series 2021B | 4.00% | 08/01/22 | 635,000 | 636,722 | ||
GO Refunding Bonds Series 2014A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 13,390,000 | 13,390,000 | |
GO Refunding Bonds Series 2019 | 4.00% | 08/01/22 | 1,705,000 | 1,708,541 | ||
Veterans Bonds Series 2016 (LIQ: TD BANK NA) | (a)(b) | 0.94% | 07/07/22 | 57,365,000 | 57,365,000 | |
Veterans Bonds Series 2019 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.98% | 07/07/22 | 72,400,000 | 72,400,000 | |
Veterans Bonds Series 2021 (LIQ: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.98% | 07/07/22 | 54,425,000 | 54,425,000 | |
Veterans Bonds Series 2022 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 1.10% | 07/07/22 | 20,000,000 | 20,000,000 | |
Veterans Housing Assistance Program Fund II Series 2001C2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.96% | 07/07/22 | 21,995,000 | 21,995,000 | |
Veterans Housing Assistance Program Series 2005A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.96% | 07/07/22 | 4,460,000 | 4,460,000 | |
Veterans Housing Assistance Program Series 2008A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.96% | 07/07/22 | 23,840,000 | 23,840,000 | |
Texas A&M Univ | ||||||
CP Series B | 1.05% | 07/07/22 | 19,000,000 | 19,000,000 | ||
RB Series 2017A | 5.00% | 07/01/22 | 640,000 | 640,000 | ||
Texas Dept of Housing & Community Affairs | ||||||
M/F Housing RB (Bristol Apartments) Series 2004 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 10,200,000 | 10,200,000 | |
M/F Housing RB (Costa Ibiza Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 11,820,000 | 11,820,000 | |
M/F Housing RB (Costa Mariposa Apts) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 5,605,000 | 5,605,000 | |
M/F Housing RB (Idlewilde Apartments) Series 2006 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 4,790,000 | 4,790,000 | |
M/F Housing RB (Tower Ridge Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.05% | 07/07/22 | 14,900,000 | 14,900,000 | |
M/F Housing RB (Windshire Apts) Series 2007 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 12,000,000 | 12,000,000 | |
M/F Housing RB (Woodmont Apts) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 13,110,000 | 13,110,000 | |
S/F Mortgage Refunding RB Series 2005A (LIQ: TEXAS (STATE OF)) | (a)(b) | 1.00% | 07/07/22 | 8,815,000 | 8,815,000 | |
Texas Public Finance Auth | ||||||
CP Series 2019A | 1.10% | 08/16/22 | 10,000,000 | 10,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Texas Transportation Commission | ||||||
GO Bonds Series 2016A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,960,000 | 5,960,000 | |
GO Refunding Bonds Series 2014 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 4,000,000 | 4,000,000 | |
State Highway Fund 1st Tier RB Series 2016B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
State Highway Fund 1st Tier Refunding RB Series 2014A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 16,000,000 | 16,000,000 | |
Texas Transportation Commission State Highway Fund | ||||||
State Highway Fund 1st Tier RB Series 2014B (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(f) | 0.91% | 07/07/22 | 95,100,000 | 95,100,000 | |
Texas Veterans Housing Assistance Program | ||||||
GO Bonds Fund II Series 2001A2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 1.00% | 07/07/22 | 3,780,000 | 3,780,000 | |
GO Bonds Fund II Series 2002A2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 1.00% | 07/07/22 | 1,755,000 | 1,755,000 | |
GO Bonds Fund II Series 2003B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 1.00% | 07/07/22 | 16,000,000 | 16,000,000 | |
GO Bonds Fund II Series 2004B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 1.00% | 07/07/22 | 18,115,000 | 18,115,000 | |
GO Bonds Fund II Series 2006A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 1.00% | 07/07/22 | 21,005,000 | 21,005,000 | |
Texas Water Dev Brd | ||||||
State Water Fund RB Series 2019A | 5.00% | 10/15/22 | 285,000 | 288,798 | ||
Texas Water Development Board | ||||||
State Revolving Fund RB New Series 2021 | 3.00% | 08/01/22 | 3,255,000 | 3,260,189 | ||
Univ of Texas | ||||||
Financing System RB Series 2008B | (a)(b) | 0.80% | 07/07/22 | 5,655,000 | 5,655,000 | |
Financing System RB Series 2012B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,300,000 | 7,300,000 | |
Financing System RB Series 2016A | 5.00% | 07/01/22 | 320,000 | 320,000 | ||
Financing System Refunding RB Series 2016H | 5.00% | 08/15/22 | 425,000 | 427,083 | ||
Financing System Refunding RB Series 2017C | 5.00% | 08/15/22 | 200,000 | 201,169 | ||
Permanent Univ Fund Bonds Series 2008A (LIQ: UNIVERSITY OF TEXAS SYSTEM) | (a)(b) | 0.83% | 07/07/22 | 53,250,000 | 53,250,000 | |
Refunding Bonds Series 2012A | 5.00% | 08/15/22 | 180,000 | 181,045 | ||
Refunding Bonds Series 2016I | 5.00% | 08/15/22 | 250,000 | 251,138 | ||
Upper Trinity Regional Water District | ||||||
CP Notes Series A (LOC: BANK OF AMERICA NA) | 0.93% | 07/11/22 | 1,500,000 | 1,500,000 | ||
Whitehouse ISD | ||||||
ULT GO Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,750,000 | 4,750,000 | |
2,595,872,419 | ||||||
UTAH 0.8% | ||||||
Intermountain Power Agency | ||||||
Power Supply RB Series 2022A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.97% | 07/07/22 | 5,130,000 | 5,130,000 | |
Sub Power Supply RB Series 2019A1 (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Logan City | ||||||
IDRB (Scientific Technology) Series 2001 (LOC: BANK OF THE WEST) | (a)(b) | 0.97% | 07/07/22 | 900,000 | 900,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Murray | ||||||
Hospital RB (IHC Health Services) Series 2003B | (a)(b) | 0.88% | 07/07/22 | 44,200,000 | 44,200,000 | |
Hospital RB (IHC Health Services) Series 2003C | (a)(b) | 0.62% | 07/01/22 | 2,375,000 | 2,375,000 | |
Utah Cnty | ||||||
Hospital RB (IHC Health Services) Series 2016C (LIQ: BMO HARRIS BANK NA) | (a)(b) | 0.92% | 07/07/22 | 4,500,000 | 4,500,000 | |
Hospital RB (IHC Health Services) Series 2016E (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.95% | 07/07/22 | 4,000,000 | 4,000,000 | |
Hospital RB (IHC Health Services) Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,875,000 | 4,875,000 | |
Utah Housing Corp | ||||||
M/F Housing RB (Florentine Villas Apts) Series 2009A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.95% | 07/07/22 | 18,880,000 | 18,880,000 | |
Utah Water Finance Agency | ||||||
RB Series 2008B-1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.95% | 07/07/22 | 16,235,000 | 16,235,000 | |
106,095,000 | ||||||
VIRGINIA 1.8% | ||||||
Albemarle Cnty Economic Development Auth | ||||||
Hospital Facilities Refunding RB (Sentara Health) Series 2018A (LIQ: TD BANK NA) | (a)(b) | 0.91% | 07/07/22 | 60,635,000 | 60,635,000 | |
Fairfax Cnty Economic Development Auth | ||||||
Metrorail Parking System RB Series 2017 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Fairfax Cnty IDA | ||||||
Health Care RB (Inova Health) Series 2018C | (a)(b) | 0.91% | 07/07/22 | 49,300,000 | 49,300,000 | |
Hampton Roads Transportation Accountability Commission | ||||||
Sr Lien RB Series 2020A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
Sr Lien RB Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,250,000 | 2,250,000 | |
Sr. Lien RB Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,340,000 | 1,340,000 | |
Lynchburg Economic Development Auth | ||||||
Hospital Refunding RB (Centra Health) Series 2017B (LOC: TRUIST BANK) | (a)(b) | 0.62% | 07/01/22 | 3,795,000 | 3,795,000 | |
Metropolitan Washington Airports Auth | ||||||
Airport System Refunding RB Series 2012A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.97% | 07/07/22 | 7,500,000 | 7,500,000 | |
Airport System Refunding RB Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.99% | 07/07/22 | 7,100,000 | 7,100,000 | |
Airport System Refunding RB Series 2017A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.95% | 07/07/22 | 5,000,000 | 5,000,000 | |
Norfolk Economic Development Auth | ||||||
Hospital Facilities RB (Sentara Health) Series 2016A | (a)(b) | 0.90% | 07/07/22 | 23,000,000 | 23,000,000 | |
Hospital Facilities Refunding RB (Sentara Healthcare) Series 2018B (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 19,295,000 | 19,295,000 | |
Univ of Virginia | ||||||
General RB Series 2018B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,625,000 | 5,625,000 | |
General Refunding RB Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,750,000 | 6,750,000 | |
Virginia Small Business Financing Auth | ||||||
Hospital RB (Carilion Clinic) Series 2008A (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.91% | 07/07/22 | 45,725,000 | 45,725,000 | |
246,815,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
WASHINGTON 2.4% | ||||||
Franklin Pierce SD #402 | ||||||
ULT GO Bonds Series 2016 (GTY: WASHINGTON (STATE OF)) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,430,000 | 6,430,000 | |
Granite Falls SD #332 | ||||||
ULT GO Refunding Bonds Series 2015A (GTY: WASHINGTON (STATE OF)) | 5.00% | 12/01/22 | 190,000 | 193,734 | ||
Highline SD #401 | ||||||
ULT GO Bonds Series 2017 (GTY: WASHINGTON (STATE OF)) (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 5,620,000 | 5,620,000 | |
ULT GO Refunding Bonds Series 2015 (GTY: WASHINGTON (STATE OF)) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,250,000 | 2,250,000 | |
King Cnty Housing Auth | ||||||
RB (Salmon Creek Apts) Series 2007 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.99% | 07/07/22 | 3,545,000 | 3,545,000 | |
King Cnty Sewer System | ||||||
LT GO CP Series A | 1.10% | 07/07/22 | 13,500,000 | 13,500,000 | ||
LT GO CP Series A | 0.93% | 07/12/22 | 16,500,000 | 16,500,000 | ||
North Thurston Public Schools | ||||||
ULT GO Refunding Bonds Series 2012 (GTY: WASHINGTON (STATE OF)) | 5.00% | 12/01/22 | 130,000 | 132,445 | ||
Northshore SD #417 | ||||||
ULT GO Bonds Series 2018 (GTY: WASHINGTON (STATE OF)) | 5.00% | 12/01/22 | 245,000 | 249,708 | ||
Port Bellingham IDA | ||||||
IDRB (Hempler Foods) Series 2006 (LOC: BANK OF MONTREAL) | (a)(b) | 0.95% | 07/07/22 | 6,125,000 | 6,125,000 | |
Port of Seattle | ||||||
1st Lien Refunding RB Series 2016B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.97% | 07/07/22 | 3,600,000 | 3,600,000 | |
RB Series 2018A (LIQ: DEUTSCHE BANK AG) | (a)(c)(d) | 1.00% | 07/07/22 | 8,780,000 | 8,780,000 | |
Sub Lien Refunding RB Series 2008 (LOC: MUFG BANK LTD) | (a)(b) | 0.96% | 07/07/22 | 25,000,000 | 25,000,000 | |
Seattle | ||||||
Drainage and Wastewater System Refunding RB 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 8,370,000 | 8,370,000 | |
Light & Power RB Series 2015A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 5,900,000 | 5,900,000 | |
Light & Power RB Series 2018A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,840,000 | 9,840,000 | |
LT GO Bonds Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.68% | 07/01/22 | 8,215,000 | 8,215,000 | |
Water System Refunding RB Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.71% | 07/01/22 | 7,605,000 | 7,605,000 | |
Snohomish Cnty Housing Auth | ||||||
RB (Olympic View & Sound View Apts) Series 2007 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.99% | 07/07/22 | 4,265,000 | 4,265,000 | |
Snohomish Cnty Public Utility District #1 | ||||||
RB Series 2021A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.95% | 07/07/22 | 7,500,000 | 7,500,000 | |
Snoqualmie Valley SD #410 | ||||||
ULT GO Refunding Bonds Series 2018 (GTY: WASHINGTON (STATE OF)) (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,500,000 | 9,500,000 | |
Washington | ||||||
COP Series 2015C | 5.00% | 07/01/22 | 6,305,000 | 6,305,000 | ||
COP Series 2016A | 5.00% | 07/01/22 | 265,000 | 265,000 | ||
COP Series 2016B | 5.00% | 07/01/22 | 2,090,000 | 2,090,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
COP Series 2017A | 5.00% | 07/01/22 | 1,085,000 | 1,085,000 | ||
COP Series 2018A | 5.00% | 07/01/22 | 125,000 | 125,000 | ||
COP Series 2021B | 5.00% | 07/01/22 | 485,000 | 485,000 | ||
GO Bonds Series 2003C (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,850,000 | 10,850,000 | |
GO Bonds Series 2014D (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,700,000 | 4,700,000 | |
GO Bonds Series 2017D (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 11,250,000 | 11,250,000 | |
GO Bonds Series R-2012D (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
GO Refunding Bonds Series R-2013C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
GO Refunding Bonds Series R-2017A | 5.00% | 08/01/22 | 175,000 | 175,710 | ||
GO Refunding Bonds Series R-2017C | 5.00% | 08/01/22 | 150,000 | 150,600 | ||
GO Refunding Bonds Series R-2021D | 5.00% | 07/01/22 | 490,000 | 490,000 | ||
Motor Vehicle Fuel Tax GO Refunding Bonds Series R-2013D | 5.00% | 07/01/22 | 100,000 | 100,000 | ||
Motor Vehicle Fuel Tax GO Refunding Bonds Series R-2020D | 5.00% | 07/01/22 | 10,405,000 | 10,405,000 | ||
Washington Health Care Facilities Auth | ||||||
RB (CommonSpirit Health) Series 2019A (LOC: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,325,000 | 2,325,000 | |
RB (MultiCare Health System) Series 2009A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 15,730,000 | 15,730,000 | |
RB (MultiCare Health System) Series 2015B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,540,000 | 3,540,000 | |
RB (MultiCare Health) RB Series 2015A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 7,875,000 | 7,875,000 | |
RB (Providence Health & Services) Series 2014C&2014D (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.97% | 07/07/22 | 14,395,000 | 14,395,000 | |
RB (Providence Health & Services) Series 2014D (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
RB (Seattle Children’s Hospital) Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,545,000 | 6,545,000 | |
Refunding RB (Seattle Children’s Hospital) Series 2015A&B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,625,000 | 8,625,000 | |
Refunding RB (Seattle Children’s Hospital) Series 2015B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 18,860,000 | 18,860,000 | |
Washington State Housing Finance Commission | ||||||
M/F Housing RB (Clark Island) Series 2007 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.96% | 07/07/22 | 5,560,000 | 5,560,000 | |
M/F Housing RB (Parkview Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.96% | 07/07/22 | 3,060,000 | 3,060,000 | |
M/F Housing RB (Rainier Court Apts) Series 2003A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 12,750,000 | 12,750,000 | |
323,862,197 | ||||||
WEST VIRGINIA 0.0% | ||||||
Putnam Cnty Commission | ||||||
Solid Waste Disposal RB (Toyota Motor Manufacturing) Series 1998A | (a)(b) | 0.91% | 07/07/22 | 500,000 | 500,000 | |
WISCONSIN 0.8% | ||||||
Green Bay Redevelopment Auth | ||||||
Exempt Facility RB (Green Bay Packaging Inc) Series 2019 (LOC: WELLS FARGO BANK NA) | (a)(b) | 1.00% | 07/07/22 | 73,400,000 | 73,400,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Wisconsin Health & Educational Facilities Auth | ||||||
RB (Ascension Health) Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,725,000 | 7,725,000 | |
RB (Children’s Hospital of Wisconsin) Series 2017 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 4,000,000 | 4,000,000 | |
RB (Froedtert & Community Health) Series 2009C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,900,000 | 5,900,000 | |
RB (Froedtert Health) Series 2012A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,275,000 | 5,275,000 | |
RB (ThedaCare Inc) Series 2019 (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.96% | 07/07/22 | 1,880,000 | 1,880,000 | |
Wisconsin Housing & Economic Development Auth | ||||||
Housing RB Series 2018A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
Housing RB Series 2018A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,500,000 | 4,500,000 | |
Housing RB Series 2021A | 0.20% | 09/01/22 | 550,000 | 549,448 | ||
105,229,448 | ||||||
WYOMING 0.6% | ||||||
Lincoln Cnty | ||||||
Pollution Control Refunding RB (ExxonMobil) Series 2014 | (a)(b) | 0.67% | 07/01/22 | 31,450,000 | 31,450,000 | |
Sublette Cnty | ||||||
Pollution Control Refunding RB (Exxon Mobil) Series 2014 | (a)(b) | 0.67% | 07/01/22 | 18,220,000 | 18,220,000 | |
Sweetwater Cnty | ||||||
RB (Simplot Phosphates) Series 2007 (LOC: COOPERATIEVE RABOBANK UA) | (a)(b) | 1.04% | 07/07/22 | 32,700,000 | 32,700,000 | |
82,370,000 | ||||||
MULTIPLE STATES 3.6% | ||||||
Nuveen AMT-Free Municipal Credit Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 4 (LOC: SOCIETE GENERALE SA) | (a)(b)(c) | 0.97% | 07/07/22 | 10,000,000 | 10,000,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: SOCIETE GENERALE SA) | (a)(b)(c) | 0.96% | 07/07/22 | 07/07/22 | 19,100,000 | 19,100,000 |
Nuveen AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 5 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(c) | 0.96% | 07/07/22 | 07/07/22 | 25,000,000 | 25,000,000 |
Variable Rate Demand Preferred Shares Series C (LOC: SOCIETE GENERALE SA) | (a)(b)(c) | 0.97% | 07/07/22 | 73,300,000 | 73,300,000 | |
Nuveen Municipal Credit Opportunities Fund | ||||||
Variable Rate Demand Preferred Shares Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(c) | 1.02% | 07/07/22 | 07/07/22 | 20,000,000 | 20,000,000 |
Nuveen Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: BARCLAYS BANK PLC) | (a)(b)(c)(f) | 1.00% | 07/07/22 | 137,400,000 | 137,400,000 | |
Variable Rate Demand Preferred Shares Series 2 (LOC: BARCLAYS BANK PLC) | (a)(b)(c) | 1.00% | 07/07/22 | 48,200,000 | 48,200,000 | |
Variable Rate Demand Preferred Shares Series 3 (LOC: BARCLAYS BANK PLC) | (a)(b)(c) | 1.00% | 07/07/22 | 41,500,000 | 41,500,000 | |
Western Asset Intermediate Municipal Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 1.01% | 07/07/22 | 29,200,000 | 29,200,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Western Asset Managed Municipals Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 1.01% | 07/07/22 | 71,000,000 | 71,000,000 | |
Western Asset Municipal Partners Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 1.01% | 07/07/22 | 07/07/22 | 12,600,000 | 12,600,000 |
487,300,000 | ||||||
Total Municipal Securities (Cost $13,136,326,073) | 13,136,326,073 | |||||
U.S. GOVERNMENT AGENCY DEBT 1.8% OF NET ASSETS | ||||||
Federal Home Loan Banks | 0.90% | 07/01/22 | 235,000,000 | 235,000,000 | ||
Total U.S. Government Agency Debt (Cost $235,000,000) | 235,000,000 | |||||
Total Investments in Securities (Cost $13,371,326,073) | 13,371,326,073 |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
(c) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $3,462,179,000 or 25.8% of net assets. |
(d) | TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
(e) | Security or a portion of the security purchased on a delayed-delivery or when-issued basis. |
(f) | All or a portion of this security is designated as collateral for delayed-delivery securities. |
AUTH — | Authority |
BAN — | Bond anticipation note |
CCD — | Community college district |
CNTY — | County |
COP — | Certificate of participation |
CP — | Commercial paper |
CSD — | Central school district |
DEV — | Development |
GO — | General obligation |
GTY — | Guaranty agreement |
HFA — | Housing finance agency/authority |
HSG — | Housing |
IDA — | Industrial development agency/authority |
IDB — | Industrial development bond |
IDC — | Industrial development corporation |
IDRB — | Industrial development revenue bond |
IND — | Independent |
IRB — | Industrial revenue bond |
ISD — | Independent school district |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
LT — | Limited tax |
M/F — | Multi-family |
PFC — | Passenger facility charge |
RB — | Revenue bond |
S/F — | Single-family |
SD — | School district |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
TOB — | Tender option bond |
TRAN — | Tax and revenue anticipation note |
ULT — | Unlimited tax |
USD — | Unified school district |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $13,371,326,073 | |
Receivables: | ||
Fund shares sold | 153,112,871 | |
Interest | 15,325,673 | |
Investments sold | 2,765,000 | |
Prepaid expenses | + | 298,646 |
Total assets | 13,542,828,263 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 73,173,304 | |
Due to custodian | 16,796,370 | |
Investments bought | 14,520,697 | |
Distributions to shareholders | 4,272,930 | |
Investment adviser and administrator fees | 1,940,648 | |
Investments bought - delayed delivery | 500,000 | |
Accrued expenses | + | 308,013 |
Total liabilities | 111,511,962 | |
Net assets | $13,431,316,301 | |
Net Assets by Source | ||
Capital received from investors | $13,431,947,872 | |
Total distributable loss | + | (631,571) |
Net assets | $13,431,316,301 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $2,467,837,199 | 2,467,218,935 | $1.00 | ||
Ultra Shares | $10,963,479,102 | 10,960,724,000 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $24,860,112 | |
Expenses | ||
Investment adviser and administrator fees | 8,939,867 | |
Shareholder service fees: | ||
Investor Shares | 1,314,509 | |
Portfolio accounting fees | 120,495 | |
Registration fees | 95,582 | |
Custodian fees | 56,344 | |
Professional fees | 31,125 | |
Shareholder reports | 30,216 | |
Independent trustees’ fees | 19,453 | |
Transfer agent fees | 614 | |
Other expenses | + | 33,464 |
Total expenses | 10,641,669 | |
Expense reduction | – | 1,433,225 |
Net expenses | – | 9,208,444 |
Net investment income | 15,651,668 | |
REALIZED GAINS (LOSSES) | ||
Net realized losses on sales of securities - unaffiliated | (563,953) | |
Increase in net assets resulting from operations | $15,087,715 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $15,651,668 | $1,110,850 | |
Net realized gains (losses) | + | (563,953) | 867,999 |
Increase in net assets from operations | $15,087,715 | $1,978,849 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($2,086,680) | ($337,344) | |
Ultra Shares | + | (13,633,287) | (1,432,384) |
Total distributions | ($15,719,967) | ($1,769,728) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 1,801,660,513 | 632,432,879 | |
Ultra Shares | + | 8,952,044,509 | 3,037,633,946 |
Total shares sold | 10,753,705,022 | 3,670,066,825 | |
Shares Reinvested | |||
Investor Shares | 1,046,907 | 249,034 | |
Ultra Shares | + | 7,306,748 | 1,099,749 |
Total shares reinvested | 8,353,655 | 1,348,783 | |
Shares Redeemed | |||
Investor Shares | (931,344,900) | (1,077,283,104) | |
Ultra Shares | + | (4,399,990,039) | (6,582,409,468) |
Total shares redeemed | (5,331,334,939) | (7,659,692,572) | |
Net transactions in fund shares | 5,430,723,738 | (3,988,276,964) | |
NET ASSETS | |||
Beginning of period | $8,001,224,815 | $11,989,292,658 | |
Total increase (decrease) | + | 5,430,091,486 | (3,988,067,843) |
End of period | $13,431,316,301 | $8,001,224,815 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Net realized and unrealized gains (losses) | (0.00) 3 | 0.00 3 | 0.00 3 | 0.00 3 | (0.00) 3 | 0.00 3 |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) 4 | (0.00) 3 |
Distributions from net realized gains | — | (0.00) 3 | — | — | — | (0.00) 3 |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) 4 | (0.00) 3 |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.10% 5 | 0.02% | 0.34% | 1.19% | 1.20% 4 | 0.48% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.27% 6,7 | 0.11% 7 | 0.31% 7,8 | 0.35% | 0.35% | 0.42% 9 |
Gross operating expenses | 0.37% 6 | 0.37% | 0.49% | 0.52% | 0.51% | 0.55% |
Net investment income (loss) | 0.20% 6 | 0.01% | 0.38% | 1.17% | 1.14% | 0.48% |
Net assets, end of period (x 1,000,000) | $659 | $644 | $835 | $1,273 | $1,128 | $632 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Value Advantage Shares was changed to Investor Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.07%. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 9/24/20 1– 12/31/20 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | |||
Net realized and unrealized gains (losses) | (0.00) 3 | 0.00 3 | 0.00 3 | |||
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Distributions from net realized gains | — | (0.00) 3 | — | |||
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | |||
Total return | 0.14% 4 | 0.02% | 0.01% 4 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.18% 5,6 | 0.11% 6 | 0.19% 5,6 | |||
Gross operating expenses | 0.22% 5 | 0.22% | 0.22% 5 | |||
Net investment income (loss) | 0.42% 5 | 0.01% | 0.02% 5 | |||
Net assets, end of period (x 1,000,000) | $535 | $161 | $229 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Annualized. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 99.9% OF NET ASSETS | ||||||
ALABAMA 2.4% | ||||||
Huntsville Health Care Auth | ||||||
CP | 1.18% | 07/22/22 | 1,500,000 | 1,500,000 | ||
RB Series 2020B (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.95% | 07/07/22 | 695,000 | 695,000 | |
Mobile Cnty IDA | ||||||
Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B (LOC: SWEDBANK AB) | (b)(d) | 0.99% | 07/07/22 | 7,000,000 | 7,000,000 | |
Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (LOC: NORDEA BANK ABP) | (b)(d) | 0.99% | 07/07/22 | 20,000,000 | 20,000,000 | |
29,195,000 | ||||||
ARIZONA 0.4% | ||||||
Maricopa Cnty IDA | ||||||
Hospital RB (HonorHealth) Series 2021C (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
Yavapai Cnty IDA | ||||||
RB (Skanon Investments Drake Cement) Series 2010A (LOC: BANK OF NOVA SCOTIA) | (b)(d) | 0.95% | 07/07/22 | 2,785,000 | 2,785,000 | |
5,285,000 | ||||||
CALIFORNIA 3.6% | ||||||
California | ||||||
GO Bonds (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
GO CP Series A3 (LOC: UBS AG) | 1.07% | 07/06/22 | 1,000,000 | 1,000,000 | ||
California Statewide Communities Development Auth | ||||||
RB (Kaiser Permanente) Series 2004E | 0.20% | 07/12/22 | 1,100,000 | 1,100,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.20% | 07/06/22 | 7,300,000 | 7,300,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.83% | 08/02/22 | 1,000,000 | 1,000,000 | ||
RB (Kaiser Permanente) Series 2008B | 1.50% | 09/07/22 | 3,000,000 | 3,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 0.20% | 07/12/22 | 5,000,000 | 5,000,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.29% | 08/02/22 | 7,000,000 | 7,000,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.35% | 08/04/22 | 1,000,000 | 1,000,000 | ||
Irvine Ranch Water District | ||||||
GO Refunding Bonds Series 2011A2 (SIFMA Municipal Swap Index + 0.06%) | (b) | 0.97% | 07/07/22 | 03/01/23 | 3,520,000 | 3,520,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
San Francisco Public Utilities Commission | ||||||
Wastewater CP Series A1 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.03% | 08/02/22 | 3,305,000 | 3,305,000 | ||
Water CP Series A2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.25% | 08/09/22 | 2,000,000 | 2,000,000 | ||
Sanger USD | ||||||
GO Bonds Series C & A (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,155,000 | 1,155,000 | |
Univ of California | ||||||
Medical Center Pooled RB Series 2022P (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
43,380,000 | ||||||
COLORADO 0.6% | ||||||
Colorado Health Facilities Auth | ||||||
Hospital RB (Advent Health) Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 650,000 | 650,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,670,000 | 1,670,000 | |
Colorado Springs | ||||||
Utility System Improvement RB Series 2007A (LIQ: TD BANK NA) | (b)(d) | 0.88% | 07/07/22 | 1,715,000 | 1,715,000 | |
Denver SD #1 | ||||||
GO Bonds Series 2022A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 800,000 | 800,000 | |
7,335,000 | ||||||
CONNECTICUT 0.8% | ||||||
Connecticut Development Auth | ||||||
Refunding RB (Bradley Airport Hotel) Series 2006A (LOC: TD BANK NA) | (b)(d) | 1.01% | 07/07/22 | 9,430,000 | 9,430,000 | |
DISTRICT OF COLUMBIA 2.4% | ||||||
District Columbia Income Tax Revenue | ||||||
Income Tax Secured RB Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 1,790,000 | 1,790,000 | |
District of Columbia | ||||||
GO Refunding Bonds Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b)(c) | 0.96% | 07/07/22 | 970,000 | 970,000 | |
Income Tax Secured RB Series 2012C (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 5,945,000 | 5,945,000 | |
Income Tax Secured RB Series 2020C (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
RB (Pew Charitable Trusts) Series 2008A (LOC: PNC BANK NATIONAL ASSOCIATION) | (b)(d) | 0.91% | 07/07/22 | 900,000 | 900,000 | |
District of Columbia Water & Sewer Auth | ||||||
Extendible CP Series A | 1.35% | 08/15/22 | 02/10/23 | 12,000,000 | 12,000,000 | |
Public Utility Sub Lien RB Series 2013A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
28,605,000 | ||||||
FLORIDA 2.6% | ||||||
Collier Cnty Health Facilities Auth | ||||||
RB (Cleveland Clinic) Series 2003C1 | 1.47% | 09/16/22 | 1,230,000 | 1,230,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Florida Housing Finance Corp | ||||||
M/F Housing RB (Hudson Ridge Apts) Series 2008L (LOC: JPMORGAN CHASE BANK NA) | (b)(d) | 0.96% | 07/07/22 | 2,175,000 | 2,175,000 | |
M/F Mortgage RB (Mariner’s Cay Apts) Series 2008M (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (b)(d) | 0.90% | 07/07/22 | 490,000 | 490,000 | |
Florida Local Government Finance Commission | ||||||
CP Series A1 (LOC: JPMORGAN CHASE BANK NA) | 1.03% | 07/05/22 | 3,141,000 | 3,141,000 | ||
Hillsborough Cnty IDA | ||||||
Health System RB (Baycare Health) Series 2020B (LOC: TD BANK NA) | (b)(d) | 0.61% | 07/01/22 | 5,000,000 | 5,000,000 | |
Jacksonville | ||||||
Health Care Refunding RB (Baptist Health) Series 2019E | (b)(d) | 0.91% | 07/07/22 | 5,000,000 | 5,000,000 | |
Miami-Dade Cnty | ||||||
GO Bonds Series 2016A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.98% | 07/07/22 | 2,000,000 | 2,000,000 | |
Orlando Utilities Commission | ||||||
Utility System RB Series 2008-2 (LIQ: TD BANK NA) | (b)(d) | 0.99% | 07/07/22 | 12,000,000 | 12,000,000 | |
31,036,000 | ||||||
GEORGIA 2.7% | ||||||
Atlanta | ||||||
Water & Wastewater Refunding RB Series 2015&2017A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 12,110,000 | 12,110,000 | |
Atlanta Airport | ||||||
2nd Lien PFC & 3rd Lien General Revenue CP Series K1 (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.14% | 07/18/22 | 15,313,000 | 15,313,000 | ||
Brookhaven Development Auth | ||||||
RB (Children’s Healthcare of Atlanta) Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 3,810,000 | 3,810,000 | |
Fulton Cnty Development Auth | ||||||
RB (Children’s Healthcare of Atlanta) Series 2019C | 5.00% | 07/01/22 | 1,000,000 | 1,000,000 | ||
32,233,000 | ||||||
HAWAII 0.0% | ||||||
Honolulu | ||||||
GO Bonds Series 2019C | 4.00% | 08/01/22 | 150,000 | 150,458 | ||
IDAHO 0.2% | ||||||
Idaho Health Facilities Auth | ||||||
RB (St Luke’s Health System) Series 2021A (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.95% | 07/07/22 | 2,180,000 | 2,180,000 | |
ILLINOIS 6.0% | ||||||
Illinois Finance Auth | ||||||
Pooled Program CP (LOC: JPMORGAN CHASE BANK NA) | 1.10% | 08/04/22 | 6,000,000 | 6,000,000 | ||
RB (Advocate Health) Series 2008C-1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.95% | 07/07/22 | 17,285,000 | 17,285,000 | |
RB (Lake Forest College) Series 2008 (LOC: NORTHERN TRUST COMPANY (THE)) | (b)(d) | 0.98% | 07/07/22 | 3,500,000 | 3,500,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022F (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.61% | 07/01/22 | 3,670,000 | 3,670,000 | |
RB (Northshore Edward Elmhurst) Series 2022E (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.63% | 07/01/22 | 5,675,000 | 5,675,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
RB (NorthShore Univ Health System) Series 2020A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.96% | 07/07/22 | 7,580,000 | 7,580,000 | |
RB (Univ of Chicago) Series 2018A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 2,560,000 | 2,560,000 | |
Illinois Hsg Development Auth March 2016 S/F | ||||||
RB Series 2022D (LIQ: BANK OF MONTREAL) | (b)(d) | 0.95% | 07/07/22 | 430,000 | 430,000 | |
Illinois Regional Transportation Auth | ||||||
GO Bonds Series 2000A (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.95% | 07/07/22 | 6,665,000 | 6,665,000 | |
Illinois Toll Highway Auth | ||||||
Sr RB Series 2014C (LIQ: CITIBANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 6,770,000 | 6,770,000 | |
Sr RB Series 2015B (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.97% | 07/07/22 | 3,100,000 | 3,100,000 | |
Metropolitan Water Reclamation District of Greater Chicago | ||||||
ULT GO Bonds Series 2014A&C (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 8,320,000 | 8,320,000 | |
71,555,000 | ||||||
INDIANA 3.3% | ||||||
Indiana Finance Auth | ||||||
Economic Development RB (AC Grain) Series 2012 (LOC: COBANK ACB) | (b)(d) | 0.96% | 07/07/22 | 28,500,000 | 28,500,000 | |
Economic Development RB (Cargill) Series 2011 | (b)(d) | 0.96% | 07/07/22 | 11,000,000 | 11,000,000 | |
39,500,000 | ||||||
IOWA 3.3% | ||||||
Iowa Board of Regents | ||||||
RB (Univ of Iowa Hospitals) Series 2012 (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 14,035,000 | 14,035,000 | |
Iowa Finance Auth | ||||||
Midwestern Disaster Area RB (Cargill) Series 2009A | (b)(d) | 0.94% | 07/07/22 | 13,000,000 | 13,000,000 | |
Midwestern Disaster Area RB (Cargill) Series 2009B | (b)(d) | 0.96% | 07/07/22 | 1,390,000 | 1,390,000 | |
Midwestern Disaster Area RB (Cargill) Series 2012 | (b)(d) | 0.98% | 07/07/22 | 7,000,000 | 7,000,000 | |
Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 (LOC: COBANK ACB) | (b)(d) | 0.99% | 07/07/22 | 4,060,000 | 4,060,000 | |
39,485,000 | ||||||
KENTUCKY 0.4% | ||||||
Louisville & Jefferson Cnty Metro Government | ||||||
RB (Norton Healthcare) Series 2011B (LOC: PNC BANK NATIONAL ASSOCIATION) | (b)(d) | 0.63% | 07/01/22 | 1,800,000 | 1,800,000 | |
Louisville & Jefferson Cnty Metro Sewer District | ||||||
CP Series 2018A2 (LIQ: JPMORGAN CHASE BANK NA) | 1.15% | 08/23/22 | 1,500,000 | 1,500,000 | ||
CP Series 2018A2 (LIQ: JPMORGAN CHASE BANK NA) | 1.50% | 09/16/22 | 2,000,000 | 2,000,000 | ||
5,300,000 | ||||||
LOUISIANA 0.6% | ||||||
Plaquemines Port, Harbor & Terminal District | ||||||
Port Facilities Refunding RB Series 1984A (LOC: WELLS FARGO BANK NA) | 1.45% | 03/15/23 | 7,500,000 | 7,500,000 | ||
MARYLAND 1.6% | ||||||
Baltimore Cnty | ||||||
GO Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b)(c) | 0.94% | 07/07/22 | 3,675,000 | 3,675,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Howard Cnty | ||||||
Recovery Zone Facility RB (Lorien at Elkridge) Series 2010 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 0.98% | 07/07/22 | 6,720,000 | 6,720,000 | |
Recovery Zone Facility RB (Meadowridge) Series 2010 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 0.98% | 07/07/22 | 6,825,000 | 6,825,000 | |
Montgomery Cnty | ||||||
RB (Trinity Health) Series 2013MD | 1.35% | 09/01/22 | 2,400,000 | 2,400,000 | ||
19,620,000 | ||||||
MASSACHUSETTS 1.5% | ||||||
Massachusetts | ||||||
GO Bonds Series 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,460,000 | 2,460,000 | |
GO Bonds Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 4,165,000 | 4,165,000 | |
GO Refunding Bond Series 2006B | 5.25% | 09/01/22 | 155,000 | 156,305 | ||
GO Refunding Bonds Series 2004A | 5.25% | 08/01/22 | 1,000,000 | 1,003,657 | ||
GO Refunding Bonds Series 2004B | 5.25% | 08/01/22 | 125,000 | 125,514 | ||
GO Refunding Bonds Series 2016B | 5.00% | 07/01/22 | 325,000 | 325,000 | ||
GO Refunding Bonds Series 2020D (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
Massachusetts Bay Transportation Auth | ||||||
Sr Sales Tax Bonds Series 2006A | 5.25% | 07/01/22 | 100,000 | 100,000 | ||
Sr Sales Tax RB Series 2003C | 5.25% | 07/01/22 | 100,000 | 100,000 | ||
Sub Sales Tax Bonds Series 2020B1 | 5.00% | 07/01/22 | 315,000 | 315,000 | ||
Massachusetts Bay Transportation Auth Special Assessment | ||||||
Assessment Bonds Series A2 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 5,625,000 | 5,625,000 | |
Massachusetts Development Finance Agency | ||||||
RB (Harvard Univ) Series 2016A | 5.00% | 07/15/22 | 2,520,000 | 2,523,603 | ||
RB (Partners HealthCare) Series 2017S1 | 5.00% | 07/01/22 | 550,000 | 550,000 | ||
18,449,079 | ||||||
MICHIGAN 1.7% | ||||||
Lenawee Cnty Economic Development Corp | ||||||
Refunding RB (Siena Heights Univ) Series 2009 (LOC: FEDERAL HOME LOAN BANKS) | (b)(d) | 0.94% | 07/07/22 | 3,545,000 | 3,545,000 | |
Michigan Housing Development Auth | ||||||
Rental Housing RB Series 2022B (LOC: BANK OF AMERICA NA) | (b)(d) | 0.93% | 07/07/22 | 4,800,000 | 4,800,000 | |
Michigan State Univ | ||||||
General RB Series 2000A1 (LIQ: PNC BANK NATIONAL ASSOCIATION) | (b)(d) | 0.93% | 07/07/22 | 7,000,000 | 7,000,000 | |
General RB Series 2019B (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.96% | 07/07/22 | 1,915,000 | 1,915,000 | |
Univ of Michigan | ||||||
General RB Series 2015 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,983,500 | 2,983,500 | |
20,243,500 | ||||||
MINNESOTA 1.7% | ||||||
Eden Prairie | ||||||
M/F Housing Refunding RB (Park At City West Apts) Series 2001 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (b)(d) | 0.95% | 07/07/22 | 14,805,000 | 14,805,000 | |
Minnesota HFA | ||||||
Residential Housing Finance Bonds Series 2015G (LIQ: ROYAL BANK OF CANADA) | (b)(d) | 0.90% | 07/07/22 | 2,700,000 | 2,700,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Rochester | ||||||
Health Care Facilities RB (Mayo Clinic) Series 2014 | 1.10% | 07/07/22 | 3,000,000 | 3,000,000 | ||
20,505,000 | ||||||
MISSISSIPPI 0.7% | ||||||
Jackson Cnty | ||||||
Port Facility Refunding RB (Chevron) Series 1993 | (b)(d) | 0.63% | 07/01/22 | 1,800,000 | 1,800,000 | |
Mississippi Business Finance Corp | ||||||
Gulf Opportunity Zone IDRB (Chevron) Series 2010C | (b)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2011D | (b)(d) | 0.63% | 07/01/22 | 840,000 | 840,000 | |
IDRB (Chevron) Series 2011A | (b)(d) | 0.63% | 07/01/22 | 860,000 | 860,000 | |
8,500,000 | ||||||
MISSOURI 2.1% | ||||||
Missouri Health & Educational Facilities Auth | ||||||
Health Facilities RB (SSM Health) Series 2019A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.95% | 07/07/22 | 4,000,000 | 4,000,000 | |
Health Facilities Refunding RB (BJC Health) Series 2008A | (b)(d) | 0.90% | 07/07/22 | 19,310,000 | 19,310,000 | |
St Louis County | ||||||
Special Obligation RB (Convention Center) Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,545,000 | 1,545,000 | |
24,855,000 | ||||||
NEBRASKA 0.5% | ||||||
Central Plains Energy | ||||||
Gas Refunding RB Series 2017A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.95% | 07/07/22 | 5,330,000 | 5,330,000 | |
NEW JERSEY 1.4% | ||||||
New Jersey Transportation Trust Fund Auth | ||||||
Transportation System Bonds Series 2009A (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.94% | 07/07/22 | 16,552,000 | 16,552,000 | |
NEW YORK 20.2% | ||||||
Battery Park City Auth | ||||||
Jr RB Series 2019D1 (LIQ: TD BANK NA) | (b)(d) | 0.88% | 07/07/22 | 3,500,000 | 3,500,000 | |
Canandaigua SD | ||||||
BAN 2022 | 3.25% | 06/23/23 | 2,000,000 | 2,026,291 | ||
New York City | ||||||
GO Bonds Fiscal 2006 Series E4 (LOC: BANK OF AMERICA NA) | (b)(d) | 0.91% | 07/07/22 | 8,000,000 | 8,000,000 | |
GO Bonds Fiscal 2012 Series A4 (LOC: MUFG BANK LTD) | (b)(d) | 0.90% | 07/07/22 | 1,650,000 | 1,650,000 | |
GO Bonds Fiscal 2013 Series D | 5.00% | 08/01/22 | 125,000 | 125,488 | ||
GO Bonds Fiscal 2013 Series J | 5.00% | 08/01/22 | 105,000 | 105,338 | ||
GO Bonds Fiscal 2021 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 3,255,000 | 3,255,000 | |
GO Bonds Fiscal 2022 Series D1 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 3,000,000 | 3,000,000 | |
GO Bonds Fiscal 2022 Series D3 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.64% | 07/01/22 | 9,500,000 | 9,500,000 | |
GO Bonds Fiscal 2022 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.65% | 07/01/22 | 7,000,000 | 7,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New York City Housing Development Corp | ||||||
M/F Housing RB Series 2020I3 (LIQ: TD BANK NA) | (b)(d) | 0.88% | 07/07/22 | 6,100,000 | 6,100,000 | |
M/F Housing RB Series 2021F3 (LIQ: BARCLAYS BANK PLC) | (b)(d) | 0.90% | 07/07/22 | 1,415,000 | 1,415,000 | |
M/F Housing RB Series 2022C3 (LIQ: BARCLAYS BANK PLC) | (b)(d) | 0.91% | 07/07/22 | 2,720,000 | 2,720,000 | |
New York City Municipal Water Finance Auth | ||||||
Water & Sewer System 2nd General Resolution RB Fiscal 2019 Series BB (LIQ: TD BANK NA) | (b)(d) | 0.88% | 07/07/22 | 1,885,000 | 1,885,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2008 Series BB3&BB4 (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.68% | 07/01/22 | 17,720,000 | 17,720,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB1B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.64% | 07/01/22 | 1,840,000 | 1,840,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.62% | 07/01/22 | 9,240,000 | 9,240,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 2,635,000 | 2,635,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD&EE (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 650,000 | 650,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2019 Series EE2 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 565,000 | 565,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 & 2022 Series CC1 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 5,550,000 | 5,550,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,835,000 | 1,835,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series EE2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.65% | 07/01/22 | 3,500,000 | 3,500,000 | |
New York City Transitional Finance Auth | ||||||
Future Tax Sec Sub Bonds Fiscal Series 2018C3 & 2020B1 & 2021C1 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,500,000 | 1,500,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.65% | 07/01/22 | 5,000,000 | 5,000,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.94% | 07/07/22 | 3,075,000 | 3,075,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 200,000 | 200,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 3,500,000 | 3,500,000 | |
New York City Trust for Cultural Resources | ||||||
Refunding RB (American Museum of Natural History) Series 2014B1 (SIFMA Municipal Swap Index + 0.15%) | (b) | 1.06% | 07/07/22 | 12/29/22 | 3,850,000 | 3,850,000 |
Refunding RB (American Museum of Natural History) Series 2014B2 (SIFMA Municipal Swap Index + 0.04%) | (b) | 0.95% | 07/07/22 | 08/29/22 | 1,245,000 | 1,245,000 |
New York State Dormitory Auth | ||||||
State Personal Income Tax RB Series 2019D (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 180,000 | 180,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 375,000 | 375,000 | |
State Personal Income Tax RB Series 2020A 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
State Personal Income Tax RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 265,000 | 265,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
State Personal Income Tax RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,980,000 | 2,980,000 | |
State Sales Tax RB Series 2015B (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 675,000 | 675,000 | |
New York State Environmental Facilities Corp | ||||||
State Clean Water & Drinking Water Revolving Funds RB Series 2013A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
New York State HFA | ||||||
Housing RB (10 Barclay St) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (b)(d) | 0.90% | 07/07/22 | 10,735,000 | 10,735,000 | |
Housing RB (Historic Front St) Series 2003A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (b)(d) | 0.91% | 07/07/22 | 700,000 | 700,000 | |
RB (8 East 102nd St) Series 2010A (LOC: TD BANK NA) | (b)(d) | 0.89% | 07/07/22 | 7,700,000 | 7,700,000 | |
New York State Mortgage Agency | ||||||
Homeowner Mortgage RB Series 231 (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 3,540,000 | 3,540,000 | |
New York State Power Auth | ||||||
CP Series 2 | 1.10% | 07/11/22 | 3,000,000 | 3,000,000 | ||
RB Series 2020A (LIQ: CITIBANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,130,000 | 1,130,000 | |
New York State Thruway Auth | ||||||
State Personal Income Tax RB Series 2021A1 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 2,595,000 | 2,595,000 | |
State Personal Income Tax RB Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 4,755,000 | 4,755,000 | |
State Personal Income Tax RB Series 2021A-1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,900,000 | 2,900,000 | |
New York State Urban Development Corp | ||||||
State Personal Income Tax RB Series 2020A & 2020E (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
State Sales Tax RB Series 2021A (LIQ: CITIBANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 7,450,000 | 7,450,000 | |
Nuveen New York AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b)(d) | 0.96% | 07/07/22 | 9,000,000 | 9,000,000 | |
Variable Rate Demand Preferred Shares Series 3 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(d) | 0.96% | 07/07/22 | 6,000,000 | 6,000,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(d) | 0.95% | 07/07/22 | 6,000,000 | 6,000,000 | |
Port Auth of New York & New Jersey | ||||||
Consolidated Bonds 179th Series (LIQ: CITIBANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,900,000 | 1,900,000 | |
Consolidated Bonds 198th Series (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,755,000 | 1,755,000 | |
Consolidated Bonds 217th Series (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.95% | 07/07/22 | 3,305,000 | 3,305,000 | |
Ramapo Housing Auth | ||||||
RB (Fountainview at College Road) Series 1998 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 0.98% | 07/07/22 | 3,985,000 | 3,985,000 | |
Ravena-Coeymans-Selkirk CSD | ||||||
BAN 2021 | 1.50% | 08/12/22 | 800,000 | 800,828 | ||
Rondout Valley CSD | ||||||
GO BANs 2022 | 3.50% | 06/28/23 | 1,000,000 | 1,006,020 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Triborough Bridge & Tunnel Auth | ||||||
General RB Series 2003B1 (LOC: US BANK NATIONAL ASSOCIATION) | (b)(d) | 0.65% | 07/01/22 | 2,910,000 | 2,910,000 | |
General RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 4,275,000 | 4,275,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2021A1 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,510,000 | 1,510,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 19,875,000 | 19,875,000 | |
Warren & Washington Cnty IDA | ||||||
Civic Facility RB (Glen at Hiland Meadows) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 1.05% | 07/07/22 | 2,965,000 | 2,965,000 | |
240,453,965 | ||||||
NORTH CAROLINA 0.3% | ||||||
North Carolina Capital Facilities Finance Agency | ||||||
RB (Duke Univ) Series 2015B (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 500 | 500 | |
North Carolina HFA | ||||||
Homeownership Refunding RB Series 45 | 0.30% | 07/01/22 | 240,000 | 240,000 | ||
North Carolina Medical Care Commission | ||||||
Health Care Facilities Refunding RB (Rex Healthcare) Series 2020A (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.96% | 07/07/22 | 3,705,000 | 3,705,000 | |
3,945,500 | ||||||
OHIO 2.2% | ||||||
Akron, Bath & Copley Jt Township Hospital District | ||||||
Hospital RB (Summa Health) Series 2017B (LOC: BMO HARRIS BANK NA) | (b)(d) | 0.91% | 07/07/22 | 6,540,000 | 6,540,000 | |
RB (Concordia Lutheran Obligated Group) Series 2013A (LOC: TRUIST BANK) | (b)(d) | 1.01% | 07/07/22 | 5,000,000 | 5,000,000 | |
Allen Cnty | ||||||
Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,675,000 | 2,675,000 | |
Franklin Cnty | ||||||
RB (Trinity Health) Series 2013OH | 1.40% | 08/01/22 | 5,000,000 | 5,000,000 | ||
Ohio | ||||||
Hospital RB (Cleveland Clinic Health System) Series 2019E (LIQ: PNC BANK NATIONAL ASSOCIATION) | (b)(d) | 0.65% | 07/01/22 | 1,680,000 | 1,680,000 | |
Port of Greater Cincinnati Development Auth | ||||||
Special Obligation Development RB (Springdale) Series 2006 (LOC: US BANK NATIONAL ASSOCIATION) | 0.80% | 02/01/23 | 4,805,000 | 4,805,000 | ||
25,700,000 | ||||||
OREGON 0.5% | ||||||
Centennial SD #28JT | ||||||
GO Refunding Bonds Series 2020 (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,720,000 | 1,720,000 | |
Oregon Health, Housing, Educational & Cultural Facilities Auth | ||||||
RB (Assumption Village) Series 2001A (LOC: MUFG UNION BANK NA) | (b)(d) | 0.97% | 07/07/22 | 3,995,000 | 3,995,000 | |
5,715,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
PENNSYLVANIA 1.4% | ||||||
Adams Cnty IDA | ||||||
RB (Gettysburg Fdn) Series 2006A (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 1.05% | 07/07/22 | 6,870,000 | 6,870,000 | |
Chester Cnty Health & Ed | ||||||
RB (Tel Hai Retirement Community) Series 2020 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 0.98% | 07/07/22 | 3,000,000 | 3,000,000 | |
Delaware Valley Regional Finance Auth | ||||||
Local Gov’t RB Series 2020D (LOC: TD BANK NA) | (b)(d) | 0.90% | 07/07/22 | 1,305,000 | 1,305,000 | |
Lycoming Cnty Auth | ||||||
RB (Lycoming College) Series 2013S1 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (b)(d) | 1.00% | 07/07/22 | 630,000 | 630,000 | |
Montgomery Cnty Redevelopment Auth | ||||||
M/F Housing RB (Forge Gate Apts) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (b)(d) | 0.95% | 07/07/22 | 4,950,000 | 4,950,000 | |
16,755,000 | ||||||
SOUTH CAROLINA 1.1% | ||||||
Patriots Energy Group Financing Agency | ||||||
Gas Supply RB Series 2018 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.96% | 07/07/22 | 955,000 | 955,000 | |
South Carolina Housing Finance & Development Auth | ||||||
M/F Rental Housing RB (Franklin Square Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (b)(d) | 0.92% | 07/07/22 | 9,600,000 | 9,600,000 | |
South Carolina Transportation Infrastructure Bank | ||||||
Refunding RB Series 2017A (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (a)(b)(c) | 1.11% | 07/07/22 | 10/03/22 | 2,000,000 | 2,000,000 |
12,555,000 | ||||||
TENNESSEE 1.2% | ||||||
Chattanooga Health, Educational & Housing Facility Board | ||||||
RB (CommonSpirit Health) Series 2019A1&A2 (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,685,000 | 1,685,000 | |
Greeneville Health & Educational Facilities Board | ||||||
Hospital RB (Ballad Health) Series 2018A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.95% | 07/07/22 | 7,000,000 | 7,000,000 | |
Memphis | ||||||
GO CP Series A (LIQ: STATE STREET BANK AND TRUST COMPANY) | 1.12% | 07/06/22 | 3,300,000 | 3,300,000 | ||
Metro Government of Nashville & Davidson Cnty | ||||||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 1.13% | 07/19/22 | 2,000,000 | 2,000,000 | ||
GO Refunding Bonds Series 2012 | 5.00% | 07/01/22 | 250,000 | 250,000 | ||
14,235,000 | ||||||
TEXAS 20.5% | ||||||
Arlington Higher Education Finance Corp | ||||||
Education RB (Riverwalk Education Foundation) Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
Clifton Higher Ed Finance Corp | ||||||
Education RB Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 2,945,000 | 2,945,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Dallas | ||||||
Waterworks & Sewer CP Notes Series F1 (LIQ: JPMORGAN CHASE BANK NA) | 1.08% | 08/03/22 | 1,800,000 | 1,800,000 | ||
Galena Park ISD | ||||||
ULT GO Refunding Bonds Series 2002 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 0.27% | 08/15/22 | 290,000 | 289,903 | ||
Gulf Coast IDA | ||||||
RB (ExxonMobil) Series 2012 | (b)(d) | 0.65% | 07/01/22 | 5,720,000 | 5,720,000 | |
Harris Cnty | ||||||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.30% | 08/03/22 | 6,890,000 | 6,890,000 | ||
Harris Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital RB (Texas Children’s Hospital) Series 2021A (LIQ: DEUTSCHE BANK AG) | (a)(b)(c) | 0.97% | 07/07/22 | 4,600,000 | 4,600,000 | |
RB (Houston Methodist) Series 2020B | (b)(d) | 0.67% | 07/01/22 | 1,050,000 | 1,050,000 | |
Refunding RB (Methodist Hospital) Series 2009C1 | 0.85% | 07/01/22 | 14,235,000 | 14,235,000 | ||
Refunding RB (Methodist Hospital) Series 2009C2 | 0.85% | 07/01/22 | 20,235,000 | 20,235,000 | ||
Harris Cnty Toll Road Auth | ||||||
1st Lien Revenue CP Series K (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.35% | 09/08/22 | 1,240,000 | 1,240,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.54% | 09/08/22 | 800,000 | 800,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NATIONAL ASSOCIATION) | 1.70% | 09/08/22 | 100,000 | 100,000 | ||
Houston | ||||||
Water & Sewer System Jr Lien Refunding RB Series 2001B (ESCROW) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 12,500,000 | 12,500,000 | |
Lewisville ISD | ||||||
ULT GO Refunding Bonds Series 2017A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 2,275,000 | 2,285,270 | ||
Lower Colorado River Auth | ||||||
CP Series B (LOC: STATE STREET BANK AND TRUST COMPANY) | 1.33% | 09/08/22 | 1,915,000 | 1,915,000 | ||
Northside ISD | ||||||
ULT GO Refunding Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 2.00% | 08/15/22 | 115,000 | 115,083 | ||
Panhandle Regional Housing Financial Corp | ||||||
M/F Housing RB (Jason Ave Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (b)(d) | 0.97% | 07/07/22 | 13,085,000 | 13,085,000 | |
Port of Port Arthur Navigation District | ||||||
Exempt Facilities RB (Total Petrochemicals USA) Series 2010 | (b)(d) | 1.01% | 07/07/22 | 5,200,000 | 5,200,000 | |
Exempt Facilities RB (Total USA) Series 2011 | (b)(d) | 1.00% | 07/07/22 | 18,315,000 | 18,315,000 | |
Exempt Facilities RB (Total USA) Series 2012 | (b)(d) | 0.95% | 07/07/22 | 6,380,000 | 6,380,000 | |
Exempt Facilities RB (Total USA) Series 2012A | (b)(d) | 1.00% | 07/07/22 | 10,000,000 | 10,000,000 | |
Exempt Facilities RB (Total USA) Series 2012B | (b)(d) | 1.00% | 07/07/22 | 4,000,000 | 4,000,000 | |
San Antonio | ||||||
Water System CP Series A (LIQ: JPMORGAN CHASE BANK NA) | 0.82% | 07/06/22 | 7,285,000 | 7,285,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 1.20% | 08/02/22 | 9,825,000 | 9,825,000 | ||
San Antonio Housing Finance Corp | ||||||
M/F Housing Mortgage RB (Artisan) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (b)(d) | 0.97% | 07/07/22 | 1,800,000 | 1,800,000 | |
San Antonio Public Facilities Corp | ||||||
Improvement and Refunding Lease RB Series 2012 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 13,970,000 | 13,970,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Spring ISD | ||||||
ULT Refunding GO Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 08/15/22 | 150,000 | 150,850 | ||
Tarrant Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital Refunding RB (Baylor Scott & White Health) Series 2019B (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 6,000,000 | 6,000,000 | |
RB (Texas Health Resources) Series 2008A | (b)(d) | 0.86% | 07/07/22 | 3,570,000 | 3,570,000 | |
RB (Texas Health Resources) Series 2016A (LIQ: CREDIT SUISSE AG) | (a)(b)(c) | 0.95% | 07/07/22 | 4,585,000 | 4,585,000 | |
RB (Texas Health Resources) Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 3,685,000 | 3,685,000 | |
Refunding RB (Christus Health) Series 2008C2 (LOC: BANK OF NEW YORK MELLON/THE) | (b)(d) | 0.94% | 07/07/22 | 6,975,000 | 6,975,000 | |
Texas | ||||||
GO Bonds Series 2013A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.95% | 07/07/22 | 1,500,000 | 1,500,000 | |
GO Bonds Series 2017 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (b)(d) | 0.98% | 07/07/22 | 13,865,000 | 13,865,000 | |
GO Bonds Series 2018 (LIQ: FEDERAL HOME LOAN BANKS) | (b)(d) | 0.98% | 07/07/22 | 5,600,000 | 5,600,000 | |
GO Refunding Bonds Series 2016 | 5.00% | 10/01/22 | 100,000 | 101,122 | ||
Veterans Bonds Series 2012B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (b)(d) | 0.95% | 07/07/22 | 10,850,000 | 10,850,000 | |
Veterans Bonds Series 2016 (LIQ: TD BANK NA) | (b)(d) | 0.94% | 07/07/22 | 6,300,000 | 6,300,000 | |
Texas Dept of Housing & Community Affairs | ||||||
M/F Housing RB (Costa Mariposa Apts) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (b)(d) | 0.97% | 07/07/22 | 3,280,000 | 3,280,000 | |
Texas Transportation Commission State Highway Fund | ||||||
State Highway Fund 1st Tier RB Series 2014B (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (b)(d) | 0.91% | 07/07/22 | 4,900,000 | 4,900,000 | |
Univ of Texas | ||||||
Permanent Univ Fund Bonds Series 2008A (LIQ: UNIVERSITY OF TEXAS SYSTEM) | (b)(d) | 0.83% | 07/07/22 | 115,000 | 115,000 | |
RB Series 2008B | (b)(d) | 0.80% | 07/07/22 | 530,000 | 530,000 | |
Ysleta ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
245,087,228 | ||||||
UTAH 1.6% | ||||||
Intermountain Power Agency | ||||||
Power Supply RB Series 2022A (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.97% | 07/07/22 | 2,320,000 | 2,320,000 | |
Sub Power Supply RB Series 2019A1 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Utah Cnty | ||||||
Hospital RB (IHC Health Services) Series 2016B (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 1,920,000 | 1,920,000 | |
Hospital RB (IHC Health Services) Series 2016E (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.95% | 07/07/22 | 3,000,000 | 3,000,000 | |
Utah Water Finance Agency | ||||||
RB Series 2008B-1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.95% | 07/07/22 | 6,620,000 | 6,620,000 | |
18,860,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
VIRGINIA 1.9% | ||||||
Albemarle Cnty Economic Development Auth | ||||||
Hospital Facilities Refunding RB (Sentara Health) Series 2018A (LIQ: TD BANK NA) | (b)(d) | 0.91% | 07/07/22 | 4,000,000 | 4,000,000 | |
Fairfax Cnty IDA | ||||||
Health Care RB (Inova Health) Series 2018C | (b)(d) | 0.91% | 07/07/22 | 700,000 | 700,000 | |
Hospital Refunding RB (Inova Health) Series 1993A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.96% | 07/07/22 | 1,745,000 | 1,745,000 | |
Loudoun Cnty | ||||||
GO Bonds Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b)(c) | 0.96% | 07/07/22 | 2,000,000 | 2,000,000 | |
Norfolk | ||||||
Water Refunding RB Series 2017 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Norfolk Economic Development Auth | ||||||
Hospital Facilities RB (Sentara Health) Series 2016A | (b)(d) | 0.90% | 07/07/22 | 6,165,000 | 6,165,000 | |
22,110,000 | ||||||
WASHINGTON 2.7% | ||||||
Highline SD #401 | ||||||
ULT GO Bonds Series 2017 (GTY: WASHINGTON (STATE OF)) (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b)(c) | 0.71% | 07/01/22 | 2,870,000 | 2,870,000 | |
King Cnty Sewer System | ||||||
LT GO CP Series A | 0.93% | 07/12/22 | 1,500,000 | 1,500,000 | ||
Pierce Cnty Economic Development Corp | ||||||
IDRB (Frederico Enterprises I) Series 2010 (LOC: ROYAL BANK OF CANADA) | (b)(d) | 0.96% | 07/07/22 | 2,340,000 | 2,340,000 | |
Seattle | ||||||
Water System Refunding RB Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(b)(c) | 0.71% | 07/01/22 | 3,920,000 | 3,920,000 | |
Snohomish Cnty Public Utility District #1 | ||||||
Generation System RB Series 2015 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 6,670,000 | 6,670,000 | |
Washington | ||||||
COP Series 2019B | 5.00% | 07/01/22 | 2,430,000 | 2,430,000 | ||
COP Series 2020D | 5.00% | 07/01/22 | 275,000 | 275,000 | ||
GO Refunding Bonds Series R-2015A | 5.00% | 07/01/22 | 100,000 | 100,000 | ||
GO Refunding Bonds Series R-2020C | 5.00% | 07/01/22 | 1,570,000 | 1,570,000 | ||
Motor Vehicle Fuel Tax GO Refunding Bonds Series R-2015F | 5.00% | 07/01/22 | 275,000 | 275,000 | ||
Washington Health Care Facilities Auth | ||||||
RB (Providence Heath & Services) Series 2014C (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.94% | 07/07/22 | 7,475,000 | 7,475,000 | |
Washington Higher Education Facilities Auth | ||||||
RB (Gonzaga Univ) Series 2019A (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.95% | 07/07/22 | 1,230,000 | 1,230,000 | |
RB (Gonzaga Univ) Series 2019A (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.96% | 07/07/22 | 1,275,000 | 1,275,000 | |
31,930,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
WISCONSIN 0.4% | ||||||
Wisconsin Health & Educational Facilities Auth | ||||||
RB (Children’s Hospital of Wisconsin) Series 2017 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 0.95% | 07/07/22 | 4,000,000 | 4,000,000 | |
Refunding RB (Froedtert Health) Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(d) | 0.65% | 07/01/22 | 805,000 | 805,000 | |
4,805,000 | ||||||
WYOMING 0.2% | ||||||
Laramie Cnty | ||||||
Hospital Refunding RB (Cheyenne Regional Medical Center) Series 2021 (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 0.96% | 07/07/22 | 1,920,000 | 1,920,000 | |
MULTIPLE STATES 5.2% | ||||||
Nuveen AMT-Free Municipal Credit Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 4 (LOC: SOCIETE GENERALE SA) | (a)(b)(d) | 0.97% | 07/07/22 | 07/07/22 | 3,000,000 | 3,000,000 |
Variable Rate Demand Preferred Shares Series 5 (LOC: SOCIETE GENERALE SA) | (a)(b)(d) | 0.96% | 07/07/22 | 07/07/22 | 33,800,000 | 33,800,000 |
Nuveen AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 4 (LOC: BARCLAYS BANK PLC) | (a)(b)(d) | 0.96% | 07/07/22 | 07/07/22 | 25,000,000 | 25,000,000 |
61,800,000 | ||||||
Total Municipal Securities (Cost $1,192,095,730) | 1,192,095,730 | |||||
U.S. GOVERNMENT AGENCY DEBT 0.4% OF NET ASSETS | ||||||
Federal Home Loan Banks | 0.90% | 07/01/22 | 5,000,000 | 5,000,000 | ||
Total U.S. Government Agency Debt (Cost $5,000,000) | 5,000,000 | |||||
Total Investments in Securities (Cost $1,197,095,730) | 1,197,095,730 |
(a) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $475,176,000 or 39.8% of net assets. |
(b) | Variable rate security; rate shown is effective rate at period end. |
(c) | TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
(d) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
AUTH — | Authority |
BAN — | Bond anticipation note |
CNTY — | County |
COP — | Certificate of participation |
CP — | Commercial paper |
CSD — | Central school district |
GO — | General obligation |
GTY — | Guaranty agreement |
HFA — | Housing finance agency/authority |
HSG — | Housing |
IDA — | Industrial development agency/authority |
IDRB — | Industrial development revenue bond |
ISD — | Independent school district |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
LT — | Limited tax |
M/F — | Multi-family |
PFC — | Passenger facility charge |
RB — | Revenue bond |
S/F — | Single-family |
SD — | School district |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
TAN — | Tax anticipation note |
TOB — | Tender option bond |
TRAN — | Tax and revenue anticipation note |
ULT — | Unlimited tax |
USD — | Unified school district |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $1,197,095,730 | |
Cash | 66,134 | |
Receivables: | ||
Fund shares sold | 3,874,657 | |
Interest | 1,499,190 | |
Prepaid expenses | + | 87,486 |
Total assets | 1,202,623,197 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 8,770,769 | |
Distributions to shareholders | 343,254 | |
Investment adviser and administrator fees | 163,394 | |
Accrued expenses | + | 92,441 |
Total liabilities | 9,369,858 | |
Net assets | $1,193,253,339 | |
Net Assets by Source | ||
Capital received from investors | $1,193,295,652 | |
Total distributable loss | + | (42,313) |
Net assets | $1,193,253,339 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $658,730,692 | 658,435,684 | $1.00 | ||
Ultra Shares | $534,522,647 | 534,285,472 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $2,253,313 | |
Expenses | ||
Investment adviser and administrator fees | 844,025 | |
Shareholder service fees: | ||
Investor Shares | 468,527 | |
Portfolio accounting fees | 53,045 | |
Registration fees | 30,784 | |
Professional fees | 16,058 | |
Independent trustees’ fees | 12,900 | |
Custodian fees | 7,919 | |
Shareholder reports | 3,406 | |
Transfer agent fees | 611 | |
Other expenses | + | 5,288 |
Total expenses | 1,442,563 | |
Expense reduction | – | 360,745 |
Net expenses | – | 1,081,818 |
Net investment income | 1,171,495 | |
REALIZED GAINS (LOSSES) | ||
Net realized losses on sales of securities - unaffiliated | (44,050) | |
Increase in net assets resulting from operations | $1,127,445 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $1,171,495 | $105,967 | |
Net realized gains (losses) | + | (44,050) | 107,183 |
Increase in net assets from operations | $1,127,445 | $213,150 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($622,197) | ($146,977) | |
Ultra Shares | + | (547,561) | (36,356) |
Total distributions | ($1,169,758) | ($183,333) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 262,867,712 | 210,378,357 | |
Ultra Shares | + | 596,393,991 | 167,728,749 |
Total shares sold | 859,261,703 | 378,107,106 | |
Shares Reinvested | |||
Investor Shares | 339,306 | 113,037 | |
Ultra Shares | + | 300,550 | 31,327 |
Total shares reinvested | 639,856 | 144,364 | |
Shares Redeemed | |||
Investor Shares | (247,899,162) | (401,555,196) | |
Ultra Shares | + | (223,345,485) | (235,678,356) |
Total shares redeemed | (471,244,647) | (637,233,552) | |
Net transactions in fund shares | 388,656,912 | (258,982,082) | |
NET ASSETS | |||
Beginning of period | $804,638,740 | $1,063,591,005 | |
Total increase (decrease) | + | 388,614,599 | (258,952,265) |
End of period | $1,193,253,339 | $804,638,740 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS (ORGANIZED OCTOBER 20, 1989) | |
Schwab Government Money Fund | Schwab Retirement Government Money Fund |
Schwab U.S. Treasury Money Fund | Schwab Municipal Money Fund |
Schwab Treasury Obligations Money Fund | Schwab AMT Tax-Free Money Fund |
Schwab Value Advantage Money Fund® | Schwab California Municipal Money Fund |
Schwab Variable Share Price Money Fund | Schwab New York Municipal Money Fund |
SCHWAB MUNICIPAL MONEY FUND | SCHWAB AMT TAX-FREE MONEY FUND | |
% of total assets in securities with credit enhancements or liquidity enhancements | 75% | 79% |
% of total assets in securities with credit enhancements or liquidity enhancements 10% or greater from a single institution | 11% | 13% |
(JPMorgan Chase Bank NA) | (JPMorgan Chase Bank NA) |
SHAREHOLDER SERVICING FEE | |
Investor Shares | 0.15% |
Ultra Shares | n/a |
SCHWAB MUNICIPAL MONEY FUND | SCHWAB AMT TAX-FREE MONEY FUND | |
Investor Shares | 0.34% | 0.34% |
Ultra Shares | 0.19% | 0.19% |
CONTRACTUAL EXPENSE LIMITATION WAIVED AMOUNT | VOLUNTARY YIELD WAIVER/ REIMBURSEMENT AMOUNT | TOTAL WAIVED AMOUNT | |
Schwab Municipal Money Fund | $386,819 | $1,046,406 | $1,433,225 |
Schwab AMT Tax-Free Money Fund | 129,990 | 230,755 | 360,745 |
PURCHASE COST | SALE PROCEEDS | REALIZED GAINS (LOSSES) | |
Schwab Municipal Money Fund | $834,212,701 | $65,131,380 | $0 |
Schwab AMT Tax-Free Money Fund | 54,436,675 | 21,936,877 | 0 |
TAX COST | |
Schwab Municipal Money Fund | $13,371,326,073 |
Schwab AMT Tax-Free Money Fund | 1,197,095,730 |
PRIOR FISCAL YEAR END DISTRIBUTIONS | |||
TAX-EXEMPT INCOME | ORDINARY INCOME | LONG-TERM CAPITAL GAINS | |
Schwab Municipal Money Fund | $1,014,553 | $95,616 | $659,559 |
Schwab AMT Tax-Free Money Fund | 95,179 | 16,795 | 71,359 |
Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
Walter W. Bettinger II | 43,824,068,459.769 | 4,913,609,626.434 |
Richard A. Wurster | 44,130,639,925.330 | 4,607,038,160.873 |
Michael J. Beer | 44,133,522,767.969 | 4,604,155,318.234 |
Robert W. Burns | 44,113,097,923.941 | 4,624,580,162.262 |
Nancy F. Heller | 44,253,687,915.276 | 4,483,990,170.927 |
David L. Mahoney | 43,236,148,053.937 | 5,501,530,032.266 |
Jane P. Moncreiff | 44,248,881,171.347 | 4,488,796,914.856 |
Kiran M. Patel | 44,063,143,583.435 | 4,674,534,502.768 |
Kimberly S. Patmore | 44,124,853,956.622 | 4,612,824,129.581 |
J. Derek Penn | 44,116,668,865.038 | 4,621,009,221.165 |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Money Fund
Money Fund
Linda Klingman, Managing Director and Head of Money Market Strategies for Schwab Asset Management, leads the portfolio management teams for taxable and tax-exempt Schwab Money Funds, and has overall responsibility for all aspects of the management of the funds. Prior to joining Schwab in 1990, she was a senior money market trader with AIM Management, Inc. for five years. She has managed money market funds since 1988. |
Kevin Shaughnessy, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining Schwab in 2000, Mr. Shaughnessy spent four years as a portfolio manager with Wells Capital Management, where he was responsible for managing the firm’s California municipal money fund, as well as short duration, private client assets. |
Cameron Ullyatt, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining Schwab in 2008, Mr. Ullyatt was a vice president and portfolio manager at OppenheimerFunds, where he was responsible for managing the firm’s municipal money fund assets. From 1999 to 2006, Mr. Ullyatt also worked as a credit analyst in OppenheimerFunds’ municipal bond and money market departments. |
Weighted Average Maturity2 | 15 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | Portfolio Composition is calculated using the Par Value (Face Value) of Investments and excludes cash. |
Schwab California Municipal Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWKXX | SCAXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 0.63% | 0.78% |
Seven-Day Yield (without waivers)3 | 0.62% | 0.77% |
Seven-Day Effective Yield (with waivers)3 | 0.63% | 0.79% |
Seven-Day Taxable Equivalent Effective Yield3,4 | 1.38% | 1.71% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 5. |
4 | Taxable equivalent effective yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.80%, and effective California state personal income tax rate of 13.30%. Your tax rate may be different. |
Weighted Average Maturity2 | 14 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | Portfolio Composition is calculated using the Par Value (Face Value) of Investments and excludes cash. |
Schwab New York Municipal Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWYXX | SNYXX |
Minimum Initial Investment2 | None | $1,000,000 |
Seven-Day Yield (with waivers)3 | 0.67% | 0.82% |
Seven-Day Yield (without waivers)3 | 0.64% | 0.79% |
Seven-Day Effective Yield (with waivers)3 | 0.67% | 0.82% |
Seven-Day Taxable Equivalent Effective Yield3,4 | 1.39% | 1.70% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 5. |
4 | Taxable equivalent effective yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.80%, and effective New York State personal income tax rate of 10.90%. Your tax rate may be different. |
EXPENSE RATIO (ANNUALIZED)1,2 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/223 | |
Schwab California Municipal Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.26% | $1,000.00 | $1,000.90 | $1.29 |
Hypothetical 5% Return | 0.26% | $1,000.00 | $1,023.51 | $1.30 |
Ultra Shares | ||||
Actual Return | 0.18% | $1,000.00 | $1,001.40 | $0.89 |
Hypothetical 5% Return | 0.18% | $1,000.00 | $1,023.90 | $0.90 |
Schwab New York Municipal Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.27% | $1,000.00 | $1,001.00 | $1.34 |
Hypothetical 5% Return | 0.27% | $1,000.00 | $1,023.46 | $1.35 |
Ultra Shares | ||||
Actual Return | 0.18% | $1,000.00 | $1,001.40 | $0.89 |
Hypothetical 5% Return | 0.18% | $1,000.00 | $1,023.90 | $0.90 |
1 | Based on the most recent six-month expense ratio. |
2 | Expense ratio (annualized) reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
3 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) 4 | (0.00) 3 |
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.00) 3 | — |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) | (0.00) 3 |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.09% 5 | 0.03% | 0.32% | 1.10% | 1.10% 4 | 0.45% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.26% 6,7 | 0.10% 7 | 0.28% 7,8 | 0.35% | 0.35% | 0.42% 9 |
Gross operating expenses | 0.35% 6 | 0.35% | 0.46% | 0.49% | 0.49% | 0.53% |
Net investment income (loss) | 0.19% 6 | 0.01% | 0.37% | 1.08% | 1.12% | 0.48% |
Net assets, end of period (x 1,000,000) | $2,123 | $2,224 | $3,405 | $6,168 | $5,526 | $1,453 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Value Advantage Shares was changed to Investor Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 9/24/20 1– 12/31/20 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | |||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | |||
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | |||
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | |||
Total return | 0.14% 4 | 0.03% | 0.01% 4 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.18% 5,6 | 0.09% 6 | 0.16% 5,6 | |||
Gross operating expenses | 0.20% 5 | 0.20% | 0.20% 5 | |||
Net investment income (loss) | 0.41% 5 | 0.01% | 0.01% 5 | |||
Net assets, end of period (x 1,000,000) | $2,961 | $778 | $375 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Annualized. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 93.3% OF NET ASSETS | ||||||
CALIFORNIA 93.3% | ||||||
ABAG Finance Auth | ||||||
M/F Housing RB (Crossing Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 61,850,000 | 61,850,000 | |
M/F Housing RB (La Terrazza Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 10,175,000 | 10,175,000 | |
M/F Housing RB (Lakeside Village) Series 2011A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.73% | 07/07/22 | 1,000,000 | 1,000,000 | |
Alameda Cnty IDA | ||||||
RB (Dale Hardware) Series 2010 (LOC: COMERICA BANK) | (a)(b) | 1.00% | 07/07/22 | 330,000 | 330,000 | |
RB (Golden West Paper Converting Corp) Series 2008A (LOC: BANK OF THE WEST) | (a)(b) | 1.00% | 07/07/22 | 2,475,000 | 2,475,000 | |
RB (Oakland Pallet Co) Series 2008A (LOC: COMERICA BANK) | (a)(b) | 1.00% | 07/07/22 | 625,000 | 625,000 | |
RB (Plastikon Industries) Series 2000A (LOC: COMERICA BANK) | (a)(b) | 1.00% | 07/07/22 | 1,170,000 | 1,170,000 | |
RB (Segale Brothers Wood Products) Series 2002 (LOC: BANK OF THE WEST) | (a)(b) | 1.00% | 07/07/22 | 660,000 | 660,000 | |
RB (White Brothers) Series 2007 (LOC: COMERICA BANK) | (a)(b) | 1.00% | 07/07/22 | 1,400,000 | 1,400,000 | |
Anaheim Elementary SD | ||||||
GO Bonds Series 2018A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,440,000 | 4,440,000 | |
Bakersfield City SD | ||||||
GO Bonds Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,910,000 | 6,910,000 | |
Bay Area Toll Auth | ||||||
Sub Toll Bridge RB Series 2019S8 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,310,000 | 5,310,000 | |
Toll Bridge RB Series 2007A2 (LOC: MUFG BANK LTD) | (a)(b) | 0.70% | 07/07/22 | 43,635,000 | 43,635,000 | |
Toll Bridge RB Series 2007B2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.72% | 07/07/22 | 39,950,000 | 39,950,000 | |
Toll Bridge RB Series 2007D2 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.75% | 07/07/22 | 38,000,000 | 38,000,000 | |
Toll Bridge RB Series 2007G1 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.67% | 07/07/22 | 22,420,000 | 22,420,000 | |
Toll Bridge RB Series 2019B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.70% | 07/07/22 | 43,185,000 | 43,185,000 | |
Toll Bridge RB Series 2019D (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(e) | 0.70% | 07/07/22 | 73,670,000 | 73,670,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
California | ||||||
GO Bond Series 2003C4 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.60% | 07/07/22 | 17,650,000 | 17,650,000 | |
GO Bonds | 5.00% | 08/01/22 | 725,000 | 727,513 | ||
GO Bonds | 4.00% | 09/01/22 | 275,000 | 276,677 | ||
GO Bonds | 4.00% | 10/01/22 | 200,000 | 201,808 | ||
GO Bonds | 5.00% | 10/01/22 | 20,370,000 | 20,546,083 | ||
GO Bonds | 5.00% | 11/01/22 | 125,000 | 126,887 | ||
GO Bonds (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 13,135,000 | 13,135,000 | |
GO Bonds (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,770,000 | 4,770,000 | |
GO Bonds (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
GO Bonds (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,315,000 | 1,315,000 | |
GO Bonds Series 2003A1 (LOC: BARCLAYS BANK PLC) | (a)(b) | 0.50% | 07/01/22 | 12,490,000 | 12,490,000 | |
GO Bonds Series 2004A2 (LOC: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.52% | 07/01/22 | 26,525,000 | 26,525,000 | |
GO Bonds Series 2004A3 (LOC: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.50% | 07/01/22 | 2,855,000 | 2,855,000 | |
GO Bonds Series 2005A21 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.77% | 07/07/22 | 34,000,000 | 34,000,000 | |
GO Bonds Series 2005B1 (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.71% | 07/07/22 | 19,850,000 | 19,850,000 | |
GO Bonds Series 2005B5 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.48% | 07/01/22 | 34,690,000 | 34,690,000 | |
GO Bonds Series 2015A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 19,935,000 | 19,935,000 | |
GO Bonds Series 2018 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 1.07% | 07/19/22 | 25,000,000 | 25,000,000 | ||
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 1.27% | 08/18/22 | 10,000,000 | 10,000,000 | ||
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 1.35% | 08/30/22 | 15,355,000 | 15,355,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 1.05% | 07/13/22 | 20,745,000 | 20,745,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 1.05% | 07/14/22 | 18,100,000 | 18,100,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 1.07% | 07/19/22 | 4,000,000 | 4,000,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 1.15% | 07/20/22 | 25,885,000 | 25,885,000 | ||
GO CP Series A3 (LOC: UBS AG) | 1.07% | 07/06/22 | 9,430,000 | 9,430,000 | ||
GO CP Series A3 (LOC: UBS AG) | 1.05% | 07/19/22 | 17,500,000 | 17,500,000 | ||
GO CP Series A4 (LOC: TORONTO-DOMINION BANK/THE) | 1.28% | 08/24/22 | 20,000,000 | 20,000,000 | ||
GO CP Series A4 (LOC: TORONTO-DOMINION BANK/THE) | 1.30% | 08/25/22 | 15,900,000 | 15,900,000 | ||
GO CP Series A5 (LOC: US BANK NATIONAL ASSOCIATION) | 0.85% | 07/06/22 | 5,150,000 | 5,150,000 | ||
GO CP Series A5 (LOC: US BANK NATIONAL ASSOCIATION) | 1.05% | 07/14/22 | 25,000,000 | 25,000,000 | ||
GO CP Series A5 (LOC: US BANK NATIONAL ASSOCIATION) | 1.07% | 07/19/22 | 5,000,000 | 5,000,000 | ||
GO CP Series A5 (LOC: US BANK NATIONAL ASSOCIATION) | 1.20% | 08/16/22 | 10,000,000 | 10,000,000 | ||
GO CP Series A6 (LOC: BANK OF AMERICA NA) | 1.07% | 07/06/22 | 11,420,000 | 11,420,000 | ||
GO CP Series A6 (LOC: BANK OF AMERICA NA) | 1.07% | 07/19/22 | 18,705,000 | 18,705,000 | ||
GO CP Series A7 (LOC: STATE STREET BANK AND TRUST COMPANY) | 1.07% | 07/06/22 | 12,000,000 | 12,000,000 | ||
GO CP Series A8 (LOC: BANK OF THE WEST) | 1.12% | 07/07/22 | 27,550,000 | 27,550,000 | ||
GO Refunding Bonds | 5.00% | 08/01/22 | 2,110,000 | 2,117,499 | ||
GO Refunding Bonds | 4.00% | 09/01/22 | 595,000 | 598,640 | ||
GO Refunding Bonds | 5.00% | 09/01/22 | 495,000 | 498,743 | ||
GO Refunding Bonds | 5.00% | 10/01/22 | 6,270,000 | 6,329,252 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
GO Refunding Bonds | 5.00% | 11/01/22 | 195,000 | 198,068 | ||
GO Refunding Bonds (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 3,655,000 | 3,655,000 | |
GO Refunding Bonds (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,000,000 | 9,000,000 | |
GO Refunding Bonds (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,835,000 | 6,835,000 | |
GO Refunding Bonds (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
GO Refunding Bonds (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 3,270,000 | 3,270,000 | |
California Dept of Water Resources | ||||||
Water Revenue CP Series 1 (LIQ: BANK OF AMERICA NA) | 1.05% | 07/01/22 | 6,000,000 | 6,000,000 | ||
Water Revenue CP Series 1 (LIQ: BANK OF AMERICA NA) | 1.18% | 08/11/22 | 54,773,000 | 54,773,000 | ||
Water Revenue CP Series 2 (LIQ: JPMORGAN CHASE BANK NA) | 1.05% | 07/07/22 | 4,582,000 | 4,582,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 1.00% | 07/21/22 | 14,774,000 | 14,774,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 1.32% | 08/04/22 | 2,763,000 | 2,763,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 1.18% | 08/10/22 | 10,506,000 | 10,506,000 | ||
California Educational Facilities Auth | ||||||
CP Notes (Stanford Univ) Series S4 | 0.95% | 07/05/22 | 25,000,000 | 25,000,000 | ||
RB (California Institute of Technology) Series 2006A | (a)(b) | 0.78% | 07/07/22 | 30,000,000 | 30,000,000 | |
RB (California Institute of Technology) Series 2006B | (a)(b) | 0.75% | 07/07/22 | 15,260,000 | 15,260,000 | |
RB (Pepperdine Univ) Series 2015 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,995,000 | 6,995,000 | |
RB (Pepperdine Univ) Series 2016 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,670,000 | 6,670,000 | |
RB (Pepperdine Univ) Series 2016 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 5,280,000 | 5,280,000 | |
RB (Stanford Univ) Series U1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,120,000 | 3,120,000 | |
RB (Stanford Univ) Series U7 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 3,590,000 | 3,590,000 | |
RB (Stanford Univ) Series V1 (LIQ: CREDIT SUISSE AG) | (a)(c)(d) | 0.91% | 07/07/22 | 6,700,000 | 6,700,000 | |
California Enterprise Development Finance Auth | ||||||
IDRB (Gordon Brush) Series 2015 (LOC: WELLS FARGO BANK NA) | (a)(b) | 1.01% | 07/07/22 | 8,000,000 | 8,000,000 | |
RB (Sconza Candy) Series 2008A (LOC: COMERICA BANK) | (a)(b) | 1.00% | 07/07/22 | 8,330,000 | 8,330,000 | |
California Health Facilities Financing Auth | ||||||
RB (Cedars-Sinai Medical Ctr) Series 2021A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 15,740,000 | 15,740,000 | |
RB (Kaiser Permanente) Series 2006E | 0.85% | 08/09/22 | 20,000,000 | 20,000,000 | ||
RB (Kaiser Permanente) Series 2017A2 (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
RB (Kaiser Permanente) Series 2017A2 (LIQ: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.15%) | (a)(c)(d) | 1.06% | 07/07/22 | 11/01/22 | 2,190,000 | 2,190,000 |
RB (Providence Health & Services) Series 2014A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
RB (Providence St Joseph Health) Series 2016A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,590,000 | 4,590,000 | |
RB (Providence St Joseph Health) Series 2016A (LIQ: CITIBANK NA) | (a)(c)(d) | 1.01% | 07/07/22 | 8,000,000 | 8,000,000 | |
RB (Providence St Joseph Health) Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,840,000 | 3,840,000 | |
RB (Scripps Health) Series 2012C | (a)(b) | 0.65% | 07/07/22 | 27,610,000 | 27,610,000 | |
RB (Sutter Health) Series 2007A&2016A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.99% | 07/07/22 | 2,250,000 | 2,250,000 | |
RB (Sutter Health) Series 2013A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.99% | 07/07/22 | 4,565,000 | 4,565,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
RB (Sutter Health) Series 2013A (ESCROW) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.96% | 07/07/22 | 3,750,000 | 3,750,000 | |
Refunding RB (Stanford Hospital) Series 2008B1 | (a)(b) | 0.72% | 07/07/22 | 24,260,000 | 24,260,000 | |
Refunding RB (Stanford Hospital) Series 2008B2-1 | 1.35% | 09/08/22 | 14,000,000 | 14,000,000 | ||
Refunding RB (Stanford Hospital) Series 2008B2-2 | 0.92% | 08/03/22 | 27,050,000 | 27,050,000 | ||
Refunding RB (Sutter Health) Series 2015A (ESCROW) (LIQ: CITIBANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 5,330,000 | 5,330,000 | |
Refunding RB (Sutter Health) Series 2015A (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 12,470,000 | 12,470,000 | |
California Infrastructure & Economic Development Bank | ||||||
Bay Area Toll Bridges RB Series 2003A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 11,250,000 | 11,250,000 | |
RB (Brightline West Passenger Rail) Series 2020A (ESCROW) | 0.85% | 01/26/23 | 2,000,000 | 2,000,000 | ||
RB (St Margaret’s Episcopal School) Series 2008 (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 1.00% | 07/07/22 | 8,575,000 | 8,575,000 | |
RB (UCSF 2130 3rd St) Series 2017 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 4,300,000 | 4,300,000 | |
California Municipal Finance Auth | ||||||
Recovery Zone Facility RB (Chevron) Series 2010A | (a)(b) | 0.56% | 07/01/22 | 65,245,000 | 65,245,000 | |
Recovery Zone Facility RB (Chevron) Series 2010B | (a)(b) | 0.55% | 07/01/22 | 22,665,000 | 22,665,000 | |
Refunding RB (ExxonMobil) Series 2007 | (a)(b) | 0.59% | 07/01/22 | 15,615,000 | 15,615,000 | |
California Pollution Control Financing Auth | ||||||
RB (Hilmar Cheese) Series 2010 (LOC: BANK OF THE WEST) | (a)(b) | 0.96% | 07/07/22 | 9,695,000 | 9,695,000 | |
Solid Waste Disposal RB (Ag Resources III) Series 2004 (LOC: COBANK ACB) | (a)(b) | 0.95% | 07/07/22 | 6,320,000 | 6,320,000 | |
Solid Waste Disposal RB (Bidart Dairy) Series 2002 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 6,000,000 | 6,000,000 | |
Solid Waste Disposal RB (Desert Properties) Series 2006B (LOC: MUFG UNION BANK NA) | (a)(b) | 0.95% | 07/07/22 | 2,860,000 | 2,860,000 | |
Solid Waste Disposal RB (EDCO Disposal) Series 2007A (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.95% | 07/07/22 | 5,600,000 | 5,600,000 | |
Solid Waste Disposal RB (George Borba & Son Dairy) Series 2003 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 3,800,000 | 3,800,000 | |
Solid Waste Disposal RB (J&D Wilson & Sons Dairy) Series 2004 (LOC: COBANK ACB) | (a)(b) | 1.03% | 07/07/22 | 2,500,000 | 2,500,000 | |
Solid Waste Disposal RB (Recology) Series 2018A (LOC: WELLS FARGO BANK NA) | (a)(b)(c) | 0.94% | 07/07/22 | 62,550,000 | 62,550,000 | |
Solid Waste Disposal RB (Sierra Pacific Ind) Series 2014 (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.95% | 07/07/22 | 25,000,000 | 25,000,000 | |
California Public Finance Auth | ||||||
RB (Hoag Memorial Hospital Presbyterian) Series 2022B (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.52% | 07/01/22 | 40,300,000 | 40,300,000 | |
RB (Sharp Healthcare) Series 2017A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
RB (Sharp Healthcare) Series 2017A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 3,750,000 | 3,750,000 | |
RB (Sharp Healthcare) Series 2017A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
RB (Sharp Healthcare) Series 2017B (LOC: BARCLAYS BANK PLC) | (a)(b) | 0.52% | 07/01/22 | 28,250,000 | 28,250,000 | |
RB (Sharp Healthcare) Series 2017C (LOC: BARCLAYS BANK PLC) | (a)(b) | 0.52% | 07/01/22 | 22,450,000 | 22,450,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
California Public Works Board | ||||||
Lease RB (California Air Resources Board) Series 2022D (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 14,255,000 | 14,255,000 | |
California State Univ | ||||||
CP Series A (GTY: STATE STREET BANK AND TRUST COMPANY) (LOC: WELLS FARGO BANK NA) | 1.16% | 09/01/22 | 2,530,000 | 2,530,000 | ||
RB Series 2012A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,570,000 | 6,570,000 | |
RB Series 2016A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,330,000 | 1,330,000 | |
RB Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 6,745,000 | 6,745,000 | |
California Statewide Communities Development Auth | ||||||
M/F Housing RB (Avian Glen Apts) Series 2004CC (LOC: CITIBANK NA) | (a)(b) | 0.99% | 07/07/22 | 3,790,000 | 3,790,000 | |
M/F Housing RB (Bay Vista at Meadow Park Apts) series 2003NN-1 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 27,420,000 | 27,420,000 | |
M/F Housing RB (Charter Court Apts) Series 2008L (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 13,680,000 | 13,680,000 | |
M/F Housing RB (Concord Green Apts) Series 1998S (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.97% | 07/07/22 | 8,700,000 | 8,700,000 | |
M/F Housing RB (Creekside at Meadow Park Apts) Series 2002HH (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 6,395,000 | 6,395,000 | |
M/F Housing RB (Crossings West Apts) Series 2009E (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.94% | 07/07/22 | 15,000,000 | 15,000,000 | |
M/F Housing RB (Dublin Ranch Sr Apts) Series 2003OO (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 29,990,000 | 29,990,000 | |
M/F Housing RB (Dublin Ranch Sr Apts) Series 2006G (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 3,310,000 | 3,310,000 | |
M/F Housing RB (Fairway Family Apts) Series 2003PP (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 27,525,000 | 27,525,000 | |
M/F Housing RB (Fairway Family Apts) Series 2006H (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 6,400,000 | 6,400,000 | |
M/F Housing RB (Grande Garden Apts) Series 2004TT (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 1,825,000 | 1,825,000 | |
M/F Housing RB (Laurel Park Sr Apts) Series 2002H (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.93% | 07/07/22 | 5,500,000 | 5,500,000 | |
M/F Housing RB (Martin Luther Tower) Series 2005D (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 5,650,000 | 5,650,000 | |
M/F Housing RB (Oak Center Towers) Series 2005L (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 2,820,000 | 2,820,000 | |
M/F Housing RB (Stoneridge at Elk Grove) Series 2005Q (LOC: CITIBANK NA) | (a)(b) | 0.90% | 07/07/22 | 5,240,000 | 5,240,000 | |
M/F Housing RB (Varenna Assisted Living Apts) Series 2006F (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.94% | 07/07/22 | 11,385,000 | 11,385,000 | |
M/F Housing RB (Wilshire Court Apts) Series 2003M (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 20,290,000 | 20,290,000 | |
M/F Housing Refunding RB (Crossings at Madera) Series 2005B (LOC: CITIBANK NA) | (a)(b) | 0.90% | 07/07/22 | 2,270,000 | 2,270,000 | |
M/F Housing Refunding RB (Desert Palms Apts) Series 2010A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.99% | 07/07/22 | 7,000,000 | 7,000,000 | |
M/F Housing Refunding RB (Kelvin Court) Series 2012B (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 25,810,000 | 25,810,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
M/F Housing Refunding RB (The Alexandria) Series 2013A (LOC: FEDERAL HOME LOAN BANKS) | (a)(b) | 0.97% | 07/07/22 | 15,650,000 | 15,650,000 | |
RB (Kaiser Permanente) Series 2004E | 0.21% | 07/13/22 | 1,900,000 | 1,900,000 | ||
RB (Kaiser Permanente) Series 2004E | 1.45% | 09/13/22 | 22,535,000 | 22,535,000 | ||
RB (Kaiser Permanente) Series 2004I | 1.15% | 07/07/22 | 17,450,000 | 17,450,000 | ||
RB (Kaiser Permanente) Series 2004I | 1.00% | 08/02/22 | 21,090,000 | 21,090,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.20% | 07/06/22 | 3,100,000 | 3,100,000 | ||
RB (Kaiser Permanente) Series 2004K | 0.21% | 07/13/22 | 12,565,000 | 12,565,000 | ||
RB (Kaiser Permanente) Series 2006D | 0.83% | 08/04/22 | 8,000,000 | 8,000,000 | ||
RB (Kaiser Permanente) Series 2006D | 1.27% | 08/17/22 | 26,500,000 | 26,500,000 | ||
RB (Kaiser Permanente) Series 2008B | 0.31% | 08/03/22 | 3,320,000 | 3,320,000 | ||
RB (Kaiser Permanente) Series 2008B | 1.50% | 09/07/22 | 14,000,000 | 14,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 0.83% | 08/10/22 | 6,000,000 | 6,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 1.00% | 08/10/22 | 5,500,000 | 5,500,000 | ||
RB (Kaiser Permanente) Series 2008C | 1.60% | 10/04/22 | 24,400,000 | 24,400,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.30% | 08/02/22 | 4,300,000 | 4,300,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 0.83% | 08/10/22 | 5,000,000 | 5,000,000 | ||
RB (Rady Children’s Hospital) Series 2008B (LOC: WELLS FARGO BANK NA) | (a)(b) | 0.56% | 07/01/22 | 32,135,000 | 32,135,000 | |
RB (Sutter Health) Series 2007A,2008B,2008C (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 4,315,000 | 4,315,000 | |
Carlsbad USD | ||||||
GO Bonds Series B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 600,000 | 600,000 | |
Chino Valley USD | ||||||
GO Bonds Series 2016B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 3,460,000 | 3,460,000 | |
GO Bonds Series 2017A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
GO Bonds Series 2020B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
Chula Vista | ||||||
M/F Housing Refunding RB (Teresina Apts) Series 2006A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.78% | 07/07/22 | 24,600,000 | 24,600,000 | |
Coast CCD | ||||||
GO Bonds Series 2017D (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,960,000 | 9,960,000 | |
Contra Costa CCD | ||||||
GO Bonds Series 2013 (ESCROW) (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 7,800,000 | 7,800,000 | |
GO Bonds Series 2013 (ESCROW) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Contra Costa Water District | ||||||
Extendible CP | 1.35% | 08/17/22 | 02/17/23 | 16,000,000 | 16,000,000 | |
East Bay Municipal Utility District | ||||||
Wastewater System Extendible CP | 1.32% | 08/16/22 | 02/10/23 | 8,000,000 | 8,000,000 | |
Water CP Notes Series A1 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | 0.80% | 07/06/22 | 13,140,000 | 13,140,000 | ||
Water CP Notes Series A2 (LIQ: BANK OF AMERICA NA) | 1.20% | 08/08/22 | 10,000,000 | 10,000,000 | ||
Water RB Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
Eastern Municipal Water District | ||||||
Water & Wastewater Refunding RB Series 2018A (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.50% | 07/01/22 | 47,070,000 | 47,070,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Eastern Municipal Water Financing Auth | ||||||
Water & Wastewater RB Series 2017D (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 4,800,000 | 4,800,000 | |
El Camino CCD | ||||||
GO Bonds Series 2018B (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
Elk Grove USD | ||||||
GO Bonds Series 2017 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 2,100,000 | 2,100,000 | |
GO Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.63% | 07/01/22 | 1,600,000 | 1,600,000 | |
Fremont UHSD | ||||||
GO Bonds Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 3,415,000 | 3,415,000 | |
Fresno USD | ||||||
GO Bonds Series 2010D & 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 17,100,000 | 17,100,000 | |
Golden Gate Bridge & Highway District | ||||||
CP Series A (LIQ: JPMORGAN CHASE BANK NA) | 1.25% | 08/17/22 | 19,000,000 | 19,000,000 | ||
Hayward | ||||||
M/F Housing RB (Lord Tennyson Apts) Series 2005A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 13,160,000 | 13,160,000 | |
Hayward Area Recreation & Park District | ||||||
GO Bonds Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,015,000 | 5,015,000 | |
Hayward USD | ||||||
GO Bonds Series 2017 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 32,500,000 | 32,500,000 | |
Irvine Ranch Water District | ||||||
COP Series 2016 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,220,000 | 3,220,000 | |
GO Bonds Series 2016 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 4,160,000 | 4,160,000 | |
GO Refunding Bonds Series 2011A2 (SIFMA Municipal Swap Index + 0.06%) | (a) | 0.97% | 07/07/22 | 03/01/23 | 20,000,000 | 20,000,000 |
Jurupa USD | ||||||
GO Bonds Series 2017B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,000,000 | 6,000,000 | |
Livermore Valley Joint USD | ||||||
GO Bonds Series 2019 (LIQ: UBS AG) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Long Beach CCD | ||||||
GO Bonds Series 2012B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,456,000 | 5,456,000 | |
Long Beach Harbor Dept | ||||||
RB Series 2015D (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 2,000,000 | 2,000,000 | |
Long Beach USD | ||||||
GO Bonds Series 2008F & 2016B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,785,000 | 10,785,000 | |
GO Bonds Series 2016A&2008E (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
GO Bonds Series 2016B | 5.00% | 08/01/22 | 150,000 | 150,458 | ||
GO Bonds Series E (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
GO Bonds Series F&B (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 1,590,000 | 1,590,000 | |
GO Refunding Bonds 2012 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,715,000 | 8,715,000 | |
Los Angeles | ||||||
GO Refunding Bonds Series 2021B | 5.00% | 09/01/22 | 590,000 | 593,887 | ||
Sub RB Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,330,000 | 1,330,000 | |
TRAN 2022 | (f) | 4.00% | 06/29/23 | 1,000,000 | 1,015,520 | |
Wastewater System CP Series A2 (LOC: TORONTO-DOMINION BANK/THE) | 1.25% | 08/18/22 | 19,000,000 | 19,000,000 | ||
Wastewater System CP Series A2 (LOC: TORONTO-DOMINION BANK/THE) | 1.13% | 09/08/22 | 10,000,000 | 10,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Wastewater System RB Series 2015A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,510,000 | 2,510,000 | |
Wastewater System Refunding RB Series 2015C & D (LIQ: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.15%) | (a)(c)(d) | 1.06% | 07/07/22 | 12/01/22 | 5,000,000 | 5,000,000 |
Los Angeles CCD | ||||||
GO Refunding Bonds Series 2013 | 5.00% | 08/01/22 | 385,000 | 386,176 | ||
GO Refunding Bonds Series 2015C | 5.00% | 08/01/22 | 115,000 | 115,467 | ||
Los Angeles Cnty | ||||||
TRAN 2022-2023 | (f) | 4.00% | 06/30/23 | 1,500,000 | 1,534,575 | |
Los Angeles Cnty Capital Asset Leasing Corp | ||||||
Lease Revenue CP Series A (LOC: BANK OF THE WEST) | 1.10% | 07/06/22 | 14,000,000 | 14,000,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 1.10% | 08/03/22 | 25,000,000 | 25,000,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 1.25% | 08/24/22 | 13,000,000 | 13,000,000 | ||
Lease Revenue CP Series C (LOC: WELLS FARGO BANK NA) | 1.15% | 07/27/22 | 46,080,000 | 46,080,000 | ||
Lease Revenue CP Series C (LOC: WELLS FARGO BANK NA) | 1.25% | 08/16/22 | 20,457,000 | 20,457,000 | ||
Los Angeles Cnty Metropolitan Transportation Auth | ||||||
1st Tier Sr Sales Tax RB Series 2017A | 5.00% | 07/01/22 | 640,000 | 640,000 | ||
2nd Sub Sales Tax Revenue CP Notes Series ATE (LOC: BANK OF AMERICA NA) | 1.20% | 08/16/22 | 4,667,000 | 4,667,000 | ||
2nd Sub Sales Tax Revenue CP Notes Series ATE (LOC: BANK OF AMERICA NA) | 1.30% | 09/14/22 | 14,167,000 | 14,167,000 | ||
Sales Tax Refunding RB Series 2016A | 5.00% | 07/01/22 | 100,000 | 100,000 | ||
Sales Tax Refunding RB Series 2019A | 5.00% | 07/01/22 | 185,000 | 185,000 | ||
Sr Sales Tax RB Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,880,000 | 4,880,000 | |
Los Angeles Cnty Public Works Financing Auth | ||||||
Lease RB (LACMA Permanent Collection) Series 2020A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,070,000 | 2,070,000 | |
Los Angeles Community Redevelopment Agency | ||||||
M/F Housing RB (Security Building) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 1.05% | 07/07/22 | 10,245,000 | 10,245,000 | |
Los Angeles Dept of Airports | ||||||
Sr RB Series 2013A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 7,500,000 | 7,500,000 | |
Sr RB Series 2015A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.97% | 07/07/22 | 5,500,000 | 5,500,000 | |
Sr RB Series 2015D (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.97% | 07/07/22 | 7,450,000 | 7,450,000 | |
Sr RB Series 2020C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 2,665,000 | 2,665,000 | |
Sub RB Series 2016A, 2017A, 2018A, 2018C, 2019F (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.97% | 07/07/22 | 7,345,000 | 7,345,000 | |
Sub RB Series 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.97% | 07/07/22 | 1,460,000 | 1,460,000 | |
Sub RB Series 2018A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.95% | 07/07/22 | 13,885,000 | 13,885,000 | |
Sub RB Series 2018A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.97% | 07/07/22 | 2,500,000 | 2,500,000 | |
Sub RB Series 2018C&D (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 40,285,000 | 40,285,000 | |
Sub RB Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 7,945,000 | 7,945,000 | |
Sub RB Series 2019F (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 21,805,000 | 21,805,000 | |
Sub RB Series 2021D (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.97% | 07/07/22 | 2,100,000 | 2,100,000 | |
Sub RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 1,940,000 | 1,940,000 | |
Sub Refunding RB Series 2021A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.99% | 07/07/22 | 5,600,000 | 5,600,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Sub Revenue CP Series A1 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.13% | 08/02/22 | 5,784,000 | 5,784,000 | ||
Sub Revenue CP Series A3 (LOC: BANK OF AMERICA NA) | 1.10% | 07/12/22 | 20,438,000 | 20,438,000 | ||
Sub Revenue CP Series B3 (LOC: BANK OF AMERICA NA) | 1.15% | 07/12/22 | 25,980,000 | 25,980,000 | ||
Los Angeles Dept of Water & Power | ||||||
Power System RB Series 2001B3 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.50% | 07/01/22 | 14,700,000 | 14,700,000 | |
Power System RB Series 2001B5 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.67% | 07/07/22 | 20,000,000 | 20,000,000 | |
Power System RB Series 2002A6 (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.50% | 07/01/22 | 7,200,000 | 7,200,000 | |
Power System RB Series 2002A7 (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.50% | 07/01/22 | 10,845,000 | 10,845,000 | |
Power System RB Series 2013B | 5.00% | 07/01/22 | 425,000 | 425,000 | ||
Power System RB Series 2014E | 5.00% | 07/01/22 | 150,000 | 150,000 | ||
Power System RB Series 2016A | 4.00% | 07/01/22 | 450,000 | 450,000 | ||
Power System RB Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,525,000 | 9,525,000 | |
Power System RB Series 2017A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
Power System RB Series 2017A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 4,600,000 | 4,600,000 | |
Power System RB Series 2017C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,680,000 | 8,680,000 | |
Power System RB Series 2021B | 3.00% | 07/01/22 | 455,000 | 455,000 | ||
Power System RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 5,885,000 | 5,885,000 | |
Water System RB Series 2001B2 (LIQ: UBS AG) | (a)(b) | 0.47% | 07/01/22 | 12,700,000 | 12,700,000 | |
Water System RB Series 2001B3 (LIQ: UBS AG) | (a)(b) | 0.75% | 07/07/22 | 1,600,000 | 1,600,000 | |
Water System RB Series 2012A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,500,000 | 5,500,000 | |
Water System RB Series 2012A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/01/22 | 13,500,000 | 13,500,000 | |
Water System RB Series 2012B (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/01/22 | 7,310,000 | 7,310,000 | |
Water System RB Series 2014A | 5.00% | 07/01/22 | 145,000 | 145,000 | ||
Water System RB Series 2014A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,850,000 | 6,850,000 | |
Water System RB Series 2014A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,700,000 | 8,700,000 | |
Water System RB Series 2016A | 5.00% | 07/01/22 | 100,000 | 100,000 | ||
Water System RB Series 2018B | 5.00% | 07/01/22 | 125,000 | 125,000 | ||
Water System RB Series 2021A2 (LIQ: TD BANK NA) | (a)(b) | 0.50% | 07/01/22 | 18,355,000 | 18,355,000 | |
Los Angeles Harbor Dept | ||||||
Refunding RB Series 2014A | 5.00% | 08/01/22 | 100,000 | 100,398 | ||
Refunding RB Series 2016C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,750,000 | 3,750,000 | |
Refunding RB Series 2019A | 5.00% | 08/01/22 | 495,000 | 496,580 | ||
Los Angeles IDA | ||||||
RB (AAA Packing & Shipping) Series 2000 (LOC: CITY NATIONAL BANK) | (a)(b) | 1.00% | 07/07/22 | 1,325,000 | 1,325,000 | |
Los Angeles Municipal Improvement Corp | ||||||
Lease Revenue CP Series A1 (LOC: BMO HARRIS BANK NA) | 1.14% | 07/26/22 | 5,250,000 | 5,250,000 | ||
Lease Revenue CP Series A1 (LOC: BMO HARRIS BANK NA) | 1.22% | 08/10/22 | 7,900,000 | 7,900,000 | ||
Lease Revenue CP Series A2 (LOC: BANK OF AMERICA NA) | 1.14% | 07/28/22 | 12,600,000 | 12,600,000 | ||
Lease Revenue CP Series A2 (LOC: BANK OF AMERICA NA) | 1.20% | 08/10/22 | 22,000,000 | 22,000,000 | ||
Lease Revenue CP Series A3 (LOC: US BANK NATIONAL ASSOCIATION) | 1.14% | 07/26/22 | 20,170,000 | 20,170,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Los Angeles USD | ||||||
GO Bonds Series 2016A | 4.00% | 07/01/22 | 6,340,000 | 6,340,000 | ||
GO Bonds Series 2020 RYQ | 5.00% | 07/01/22 | 400,000 | 400,000 | ||
GO Bonds Series 2020 RYQ (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 10,440,000 | 10,440,000 | |
GO Refunding Bonds Series 2014A | 5.00% | 07/01/22 | 1,700,000 | 1,700,000 | ||
GO Refunding Bonds Series 2014B | 5.00% | 07/01/22 | 165,000 | 165,000 | ||
GO Refunding Bonds Series 2015A | 5.00% | 07/01/22 | 1,725,000 | 1,725,000 | ||
GO Refunding Bonds Series 2017A | 5.00% | 07/01/22 | 9,265,000 | 9,265,000 | ||
GO Refunding Bonds Series 2019A | 5.00% | 07/01/22 | 5,875,000 | 5,875,000 | ||
GO Refunding Bonds Series 2020A | 5.00% | 07/01/22 | 5,130,000 | 5,130,000 | ||
GO Refunding Bonds Series 2021A | 5.00% | 07/01/22 | 340,000 | 340,000 | ||
Marin Healthcare District | ||||||
GO Bonds Series 2015A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,330,000 | 3,330,000 | |
GO Bonds Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 5,100,000 | 5,100,000 | |
GO Bonds Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,530,000 | 1,530,000 | |
GO Bonds Series 2017A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
Mt. San Antonio CCD | ||||||
GO Bonds Series 2019A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
Norwalk La Mirada USD | ||||||
GO Bonds Series E (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,480,000 | 6,480,000 | |
Nuveen California AMT-Free Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 3 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.95% | 07/07/22 | 13,000,000 | 13,000,000 | |
Nuveen California Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b)(c) | 1.00% | 07/07/22 | 55,900,000 | 55,900,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.98% | 07/07/22 | 11,000,000 | 11,000,000 | |
Variable Rate Demand Preferred Shares Series 6 (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 1.00% | 07/07/22 | 23,500,000 | 23,500,000 | |
Variable Rate Demand Preferred Shares Series 7 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 0.98% | 07/07/22 | 54,400,000 | 54,400,000 | |
Oakland USD | ||||||
GO Bonds Series 2021A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,485,000 | 2,485,000 | |
Orange Cnty Sanitation District | ||||||
Wastewater Refunding Revenue Obligations Series 2015A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 8,000,000 | 8,000,000 | |
Oxnard SD | ||||||
GO Bonds Series 2016A (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,505,000 | 7,505,000 | |
Oxnard UHSD | ||||||
GO Bonds Series A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 7,200,000 | 7,200,000 | |
Palomar CCD | ||||||
GO Bonds Series C (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
GO Bonds Series C (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 15,140,000 | 15,140,000 | |
Pasadena | ||||||
Refunding COP Series 2008A (LOC: BANK OF AMERICA NA) | (a)(b) | 0.76% | 07/07/22 | 13,505,000 | 13,505,000 | |
Pomona USD | ||||||
GO Bonds Series 2020D (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,420,000 | 7,420,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Port of Oakland | ||||||
CP Notes D (LOC: BANK OF AMERICA NA) | 1.10% | 07/21/22 | 30,193,000 | 30,193,000 | ||
CP Series A (LOC: BANK OF AMERICA NA) | 1.10% | 07/21/22 | 12,342,000 | 12,342,000 | ||
Riverside Cnty | ||||||
TRAN 2022 | (f) | 5.00% | 06/30/23 | 1,000,000 | 1,027,820 | |
Sacramento Area Flood Control Agency | ||||||
Consolidated Capital Assessment District No 2 Bonds Series 2016A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 11,000,000 | 11,000,000 | |
Consolidated Capital Assessment District No 2 Bonds Series 2016A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,750,000 | 4,750,000 | |
Consolidated Capital Assessment District No 2 Bonds Series 2016A (LIQ: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.15%) | (a)(c)(d) | 1.06% | 07/07/22 | 10/03/22 | 2,300,000 | 2,300,000 |
Sacramento Cnty Housing Auth | ||||||
M/F Housing RB (Logan Park Apts) Series 2007E (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 46,090,000 | 46,090,000 | |
Sacramento Housing Auth | ||||||
M/F Housing RB (Valencia Point Apts) Series 2006I (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.88% | 07/07/22 | 10,050,000 | 10,050,000 | |
Sacramento Municipal Utility District | ||||||
Electric RB Series 2020H (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 12,700,000 | 12,700,000 | |
Electric RB Series 2020H (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 3,700,000 | 3,700,000 | |
Sacramento Water Revenue | ||||||
Water RB Series 2017 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,800,000 | 3,800,000 | |
San Bernardino CCD | ||||||
GO Refunding Bonds Series 2013A (ESCROW) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
San Bernardino Cnty Transportation Auth | ||||||
Sales Tax RB Series 2014A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 8,300,000 | 8,300,000 | |
San Diego Cnty Regional Transportation Commission | ||||||
Sales Tax RB Series 2008A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.68% | 07/07/22 | 18,085,000 | 18,085,000 | |
Sales Tax RB Series 2008B (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.68% | 07/07/22 | 5,200,000 | 5,200,000 | |
Sales Tax RB Series 2008C (LIQ: BANK OF AMERICA NA) | (a)(b) | 0.75% | 07/07/22 | 8,200,000 | 8,200,000 | |
Sub Sales Tax Revenue CP Series B (LOC: BANK OF AMERICA NA) | 1.05% | 07/14/22 | 45,326,000 | 45,326,000 | ||
San Diego Cnty Water Auth | ||||||
CP Series 10 (LIQ: BANK OF THE WEST) | 1.07% | 07/06/22 | 2,400,000 | 2,400,000 | ||
CP Series 10 (LIQ: BANK OF THE WEST) | 1.12% | 07/20/22 | 29,100,000 | 29,100,000 | ||
CP Series 10 (LIQ: BANK OF THE WEST) | 1.05% | 08/03/22 | 23,000,000 | 23,000,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 1.05% | 08/04/22 | 25,000,000 | 25,000,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 1.25% | 10/06/22 | 25,000,000 | 25,000,000 | ||
San Diego Housing Auth | ||||||
M/F Housing RB (Courthouse Commons) Series 2020F (LOC: MIZUHO BANK LTD) | (a)(b) | 0.95% | 07/07/22 | 750,000 | 750,000 | |
San Diego Public Facilities Financing Auth | ||||||
Sub Water RB Series 2018A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,455,000 | 8,455,000 | |
Sub Water Revenue CP Series A (LOC: BANK OF AMERICA NA) | 1.05% | 07/07/22 | 10,000,000 | 10,000,000 | ||
Sub Water Revenue CP Series A (LOC: BANK OF AMERICA NA) | 0.22% | 07/14/22 | 14,175,000 | 14,175,000 | ||
Sub Water Revenue CP Series A (LOC: BANK OF AMERICA NA) | 1.20% | 09/08/22 | 5,016,000 | 5,016,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
San Diego USD | ||||||
GO Bonds Series 2013C (ESCROW) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
GO Bonds Series 2017 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
GO Bonds Series 2017 & 2019 (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 19,520,000 | 19,520,000 | |
GO Bonds Series 2020 D2 | 5.00% | 07/01/22 | 3,020,000 | 3,020,000 | ||
San Francisco | ||||||
COP (49 S. Van Ness) Series 2019A (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,135,000 | 3,135,000 | |
Lease Revenue CP Series 2 (LIQ: US BANK NATIONAL ASSOCIATION) | 1.18% | 08/18/22 | 5,507,000 | 5,507,000 | ||
M/F Housing RB (Carter Terrace Apts) Series 2002B (LOC: CITIBANK NA) | (a)(b) | 1.00% | 07/07/22 | 2,875,000 | 2,875,000 | |
San Francisco Airport Commission | ||||||
2nd Series RB Series 2016B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 1.01% | 07/07/22 | 4,360,000 | 4,360,000 | |
RB 2nd Series 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 1.04% | 07/07/22 | 12,000,000 | 12,000,000 | |
RB 2nd Series 2018C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.75% | 07/07/22 | 12,960,000 | 12,960,000 | |
RB 2nd Series 2019 (LOC: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 40,240,000 | 40,240,000 | |
RB 2nd Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.98% | 07/07/22 | 7,500,000 | 7,500,000 | |
RB 2nd Series 2019A (LOC: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 11,305,000 | 11,305,000 | |
RB 2nd Series 2019E (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.98% | 07/07/22 | 11,745,000 | 11,745,000 | |
RB 2nd Series 2019E (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 1.01% | 07/07/22 | 7,110,000 | 7,110,000 | |
Refunding RB 2nd Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 1.01% | 07/07/22 | 15,620,000 | 15,620,000 | |
Refunding RB Series 2010A1 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.83% | 07/07/22 | 13,385,000 | 13,385,000 | |
Refunding RB Series 2010A2 (LOC: BANK OF AMERICA NA) | (a)(b) | 0.84% | 07/07/22 | 21,810,000 | 21,810,000 | |
Sub CP Notes A-2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.33% | 10/04/22 | 32,600,000 | 32,600,000 | ||
Sub CP Series B4 (LOC: US BANK NATIONAL ASSOCIATION) | 1.25% | 10/04/22 | 4,085,000 | 4,085,000 | ||
San Francisco Bay Area Rapid Transit District | ||||||
GO Bonds Series 2017A1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,335,000 | 3,335,000 | |
GO Bonds Series 2017A1 (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 4,800,000 | 4,800,000 | |
GO Bonds Series 2017A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,650,000 | 2,650,000 | |
GO Bonds Series 2022D1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 12,000,000 | 12,000,000 | |
GO Bonds Series 2022D1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,110,000 | 1,110,000 | |
GO Bonds Series 2022D1 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 1,875,000 | 1,875,000 | |
Sales Tax RB Series 2019A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,735,000 | 1,735,000 | |
San Francisco Finance Corp | ||||||
Lease Refunding RB Series 20081 (LOC: TD BANK NA) | (a)(b) | 0.75% | 07/07/22 | 14,550,000 | 14,550,000 | |
Lease Refunding RB Series 20082 (LOC: TD BANK NA) | (a)(b) | 0.75% | 07/07/22 | 14,000,000 | 14,000,000 | |
San Francisco Housing Auth | ||||||
M/F Housing Refunding RB (Valencia Gardens) Series 2004 (LOC: CITIBANK NA) | (a)(b) | 0.99% | 07/07/22 | 2,030,000 | 2,030,000 | |
San Francisco Public Utilities Commission | ||||||
Wastewater CP Series A1 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.03% | 08/02/22 | 10,019,000 | 10,019,000 | ||
Wastewater CP Series A6 (LIQ: STATE STREET BANK AND TRUST COMPANY) | 1.05% | 07/06/22 | 10,715,000 | 10,715,000 | ||
Wastewater CP Series A6 (LIQ: STATE STREET BANK AND TRUST COMPANY) | 1.35% | 09/13/22 | 25,000,000 | 25,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Wastewater CP Series A7 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.07% | 08/03/22 | 5,000,000 | 5,000,000 | ||
Water CP Series A2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.12% | 07/06/22 | 33,561,000 | 33,561,000 | ||
Water CP Series A2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 1.25% | 08/09/22 | 30,000,000 | 30,000,000 | ||
Water RB Series 2017 D (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 7,760,000 | 7,760,000 | |
Water RB Series 2017A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,000,000 | 3,000,000 | |
San Francisco Redevelopment Agency | ||||||
M/F Housing RB (3rd & Mission) Series 1999C (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b)(e) | 0.80% | 07/07/22 | 100,000,000 | 100,000,000 | |
San Joaquin Cnty Transportation Auth | ||||||
Sales Tax Refunding RB Series 2017 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
San Jose | ||||||
M/F Housing RB (Cinnabar Commons) Series 2003C (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.87% | 07/07/22 | 21,100,000 | 21,100,000 | |
M/F Housing RB (Pollard Plaza Apts) Series 2002D (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.98% | 07/07/22 | 795,000 | 795,000 | |
M/F Housing Refunding RB (Las Ventanas Apts) Series 2008B (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.86% | 07/07/22 | 20,900,000 | 20,900,000 | |
Sub Airport CP Notes Series B (LOC: BANK OF AMERICA NA) | 1.60% | 10/27/22 | 24,112,000 | 24,112,000 | ||
San Jose-Evergreen CCD | ||||||
GO Bonds Series A (ESCROW) (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 3,980,000 | 3,980,000 | |
San Luis Obispo Cnty CCD | ||||||
GO Bonds Series 2014A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.95% | 07/07/22 | 6,580,000 | 6,580,000 | |
San Marcos USD | ||||||
GO Bonds Series C (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,665,000 | 6,665,000 | |
San Mateo Cnty CCD | ||||||
GO Bonds Series 2015A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,810,000 | 8,810,000 | |
GO Bonds Series 2018B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,230,000 | 2,230,000 | |
San Mateo Cnty Jt Powers Financing Auth | ||||||
Lease RB Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 13,555,000 | 13,555,000 | |
San Mateo Cnty Transportation Auth | ||||||
Sub Sales Tax RB Series 2020B (LOC: BANK OF AMERICA NA) | (a)(b) | 0.52% | 07/01/22 | 2,585,000 | 2,585,000 | |
San Rafael Redevelopment Agency | ||||||
MF Hsg RB (San Rafael Commons Apts) Ser 2001A (LOC: CITIBANK NA) | (a)(b) | 0.93% | 07/07/22 | 1,570,000 | 1,570,000 | |
Santa Clara Cnty Housing Auth | ||||||
M/F Housing RB (Monte Vista Terrace Apts) Series 2005C (LOC: MUFG UNION BANK NA) | (a)(b) | 1.00% | 07/07/22 | 4,917,000 | 4,917,000 | |
M/F Housing Refunding RB (Willows Apts) Series 2005A (LOC: MUFG UNION BANK NA) | (a)(b) | 0.92% | 07/07/22 | 3,447,000 | 3,447,000 | |
Santa Clara Valley Transportation Auth | ||||||
Sales Tax Refunding RB Series 2008C (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b) | 0.52% | 07/01/22 | 30,440,000 | 30,440,000 | |
Sales Tax Refunding RB Series 2008D (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b) | 0.45% | 07/01/22 | 46,075,000 | 46,075,000 | |
Santa Clara Valley Water District | ||||||
CP Series A (LOC: MUFG BANK LTD) | 1.43% | 09/08/22 | 7,200,000 | 7,200,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Santa Cruz Cnty Successor Redevelopment Agency | ||||||
M/F Housing RB (Shaffer Road Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 21,925,000 | 21,925,000 | |
Solano CCD | ||||||
GO Bonds Series C (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,000,000 | 3,000,000 | |
Southern California Metropolitan Water District | ||||||
Sub Water Refunding RB Series 2019A | 5.00% | 07/01/22 | 100,000 | 100,000 | ||
Water RB Series 2017A (LIQ: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.50% | 07/01/22 | 22,270,000 | 22,270,000 | |
Water Refunding RB Series 2018A1 (LIQ: TD BANK NA) | (a)(b) | 0.50% | 07/01/22 | 8,825,000 | 8,825,000 | |
Water Refunding RB Series 2018A2 (LIQ: TD BANK NA) | (a)(b) | 0.50% | 07/01/22 | 560,000 | 560,000 | |
Water Refunding RB Series 2021B (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,655,000 | 6,655,000 | |
Sunnyvale SD | ||||||
GO Bonds Series 2019C (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 3,000,000 | 3,000,000 | |
Sweetwater UHSD | ||||||
GO Refunding Bonds (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,225,000 | 6,225,000 | |
Union Elementary SD | ||||||
GO Bonds Series C (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,145,000 | 8,145,000 | |
Univ of California | ||||||
General RB Series 2013AI (LIQ: UBS AG) | (a)(c)(d) | 0.93% | 07/07/22 | 12,000,000 | 12,000,000 | |
General RB Series 2013AI & 2016AR (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 5,360,000 | 5,360,000 | |
General RB Series 2014AM (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,600,000 | 7,600,000 | |
General RB Series 2018 AZ (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 6,000,000 | 6,000,000 | |
Limited Project RB Series 2015I (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,800,000 | 4,800,000 | |
Limited Project RB Series 2021Q (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 10,000,000 | 10,000,000 | |
Limited Project RB Series 2022S (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,840,000 | 2,840,000 | |
Medical Center Pooled RB Series 2013J (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
Medical Center Pooled RB Series 2016L (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 2,220,000 | 2,220,000 | |
Medical Center Pooled RB Series 2016L (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,665,000 | 2,665,000 | |
Medical Center Pooled RB Series 2022P (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 59,245,000 | 59,245,000 | |
Medical Center Pooled RB Series 2022P (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,250,000 | 2,250,000 | |
Medical Center Pooled RB Series 2022P (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 2,500,000 | 2,500,000 | |
Medical Center Pooled RB Series 2022P (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,305,000 | 9,305,000 | |
RB Series 2021Q (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
West Valley-Mission CCD | ||||||
GO Bonds Series 2015B (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,500,000 | 8,500,000 | |
Westminster Redevelopment Agency | ||||||
M/F Housing RB (Brookhurst Royal) Series 2000A (LOC: MUFG UNION BANK NA) | (a)(b) | 1.00% | 07/07/22 | 3,635,000 | 3,635,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Yosemite CCD | ||||||
GO Bonds Series 2010D (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,483,000 | 5,483,000 | |
4,746,212,051 | ||||||
Total Municipal Securities (Cost $4,746,212,051) | 4,746,212,051 | |||||
U.S. GOVERNMENT AGENCY DEBT 5.3% OF NET ASSETS | ||||||
Federal Home Loan Banks | ||||||
1.00% | 07/08/22 | 68,000,000 | 67,986,778 | |||
0.90% | 07/01/22 | 200,000,000 | 200,000,000 | |||
Total U.S. Government Agency Debt (Cost $267,986,778) | 267,986,778 | |||||
Total Investments in Securities (Cost $5,014,198,829) | 5,014,198,829 |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
(c) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $1,434,914,000 or 28.2% of net assets. |
(d) | TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
(e) | All or a portion of this security is designated as collateral for delayed-delivery securities. |
(f) | Security or a portion of the security purchased on a delayed-delivery or when-issued basis. |
CCD — | Community college district |
COP — | Certificate of participation |
CP — | Commercial paper |
GO — | General obligation |
HSG — | Housing |
IDA — | Industrial development agency/authority |
IDRB — | Industrial development revenue bond |
IND — | Independent |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
M/F — | Multi-family |
RB — | Revenue bond |
SD — | School district |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
TOB — | Tender option bond |
TRAN — | Tax and revenue anticipation note |
UHSD — | Union high school district |
USD — | Unified school district |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $5,014,198,829 | |
Cash | 47,579,164 | |
Receivables: | ||
Fund shares sold | 41,982,615 | |
Interest | 5,864,869 | |
Prepaid expenses | + | 37,594 |
Total assets | 5,109,663,071 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 20,261,499 | |
Investments bought - delayed delivery | 3,577,915 | |
Distributions to shareholders | 1,391,660 | |
Investment adviser and administrator fees | 735,205 | |
Accrued expenses | + | 148,249 |
Total liabilities | 26,114,528 | |
Net assets | $5,083,548,543 | |
Net Assets by Source | ||
Capital received from investors | $5,083,494,876 | |
Total distributable earnings | + | 53,667 |
Net assets | $5,083,548,543 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $2,123,003,070 | 2,122,268,548 | $1.00 | ||
Ultra Shares | $2,960,545,473 | 2,959,525,494 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $8,765,183 | |
Expenses | ||
Investment adviser and administrator fees | 3,300,951 | |
Shareholder service fees: | ||
Investor Shares | 1,568,448 | |
Portfolio accounting fees | 70,817 | |
Professional fees | 26,713 | |
Registration fees | 23,048 | |
Custodian fees | 20,699 | |
Independent trustees’ fees | 14,808 | |
Shareholder reports | 8,076 | |
Transfer agent fees | 612 | |
Other expenses | + | 13,418 |
Total expenses | 5,047,590 | |
Expense reduction | – | 1,044,340 |
Net expenses | – | 4,003,250 |
Net investment income | 4,761,933 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 21,894 | |
Increase in net assets resulting from operations | $4,783,827 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $4,761,933 | $385,267 | |
Net realized gains | + | 21,894 | 630,301 |
Increase in net assets from operations | $4,783,827 | $1,015,568 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($1,921,791) | ($704,169) | |
Ultra Shares | + | (2,808,369) | (217,643) |
Total distributions | ($4,730,160) | ($921,812) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 718,207,253 | 592,595,743 | |
Ultra Shares | + | 3,129,779,627 | 1,016,702,079 |
Total shares sold | 3,847,986,880 | 1,609,297,822 | |
Shares Reinvested | |||
Investor Shares | 1,064,695 | 557,517 | |
Ultra Shares | + | 1,565,887 | 161,412 |
Total shares reinvested | 2,630,582 | 718,929 | |
Shares Redeemed | |||
Investor Shares | (819,516,403) | (1,773,810,017) | |
Ultra Shares | + | (949,693,156) | (613,925,284) |
Total shares redeemed | (1,769,209,559) | (2,387,735,301) | |
Net transactions in fund shares | 2,081,407,903 | (777,718,550) | |
NET ASSETS | |||
Beginning of period | $3,002,086,973 | $3,779,711,767 | |
Total increase (decrease) | + | 2,081,461,570 | (777,624,794) |
End of period | $5,083,548,543 | $3,002,086,973 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/171 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.00 3 |
Net realized and unrealized gains (losses) | (0.00) 3 | 0.00 3 | 0.00 3 | 0.00 3 | (0.00) 3 | 0.01 |
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | 0.01 | 0.01 | 0.01 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) 4 | (0.01) 4 |
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | — | — | (0.00) 3 |
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | (0.01) | (0.01) | (0.01) |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.10% 5 | 0.06% | 0.34% | 1.18% | 1.16% 4 | 0.56% 4 |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.27% 6,7 | 0.12% 7 | 0.30% 7,8 | 0.35% | 0.35% | 0.42% 9 |
Gross operating expenses | 0.38% 6 | 0.38% | 0.49% | 0.51% | 0.52% | 0.56% |
Net investment income (loss) | 0.20% 6 | 0.01% | 0.43% | 1.16% | 1.16% | 0.48% |
Net assets, end of period (x 1,000,000) | $455 | $470 | $668 | $1,466 | $1,126 | $322 |
* | Unaudited. |
1 | Effective October 3, 2017, the share class name of Value Advantage Shares was changed to Investor Shares. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Amounts include special distributions. For the periods ended December 31, 2018 and December 31, 2017, the effects on the distributions from net investment income were less than $0.005 and $0.005, respectively, and the effects on total returns were 0.04% and 0.08%, respectively. |
5 | Not annualized. |
6 | Annualized. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
8 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
9 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 9/24/20 1– 12/31/20 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.00 3 | 0.00 3 | |||
Net realized and unrealized gains (losses) | (0.00) 3 | 0.00 3 | 0.00 3 | |||
Total from investment operations | 0.00 3 | 0.00 3 | 0.00 3 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Distributions from net realized gains | — | (0.00) 3 | (0.00) 3 | |||
Total distributions | (0.00) 3 | (0.00) 3 | (0.00) 3 | |||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | |||
Total return | 0.14% 4 | 0.06% | 0.02% 4 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.18% 5,6 | 0.12% 6 | 0.19% 5 | |||
Gross operating expenses | 0.22% 5 | 0.23% | 0.22% 5 | |||
Net investment income (loss) | 0.44% 5 | 0.01% | 0.03% 5 | |||
Net assets, end of period (x 1,000,000) | $463 | $98 | $119 |
* | Unaudited. |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Annualized. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 98.1% OF NET ASSETS | ||||||
NEW YORK 98.1% | ||||||
Battery Park City Auth | ||||||
Jr RB Series 2019D1 (LIQ: TD BANK NA) | (a)(b) | 0.88% | 07/07/22 | 6,000,000 | 6,000,000 | |
Jr RB Series 2019E (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,660,000 | 5,660,000 | |
Canandaigua SD | ||||||
BAN 2022 | 3.25% | 06/23/23 | 8,600,000 | 8,713,051 | ||
Colonie Local Development Corp | ||||||
RB (Shaker Pointe at Carondelet) Series 2011 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 8,490,000 | 8,490,000 | |
RB (Shaker Pointe at Carondelet) Series 2013 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 10,440,000 | 10,440,000 | |
East Rochester Hsg Auth | ||||||
Housing RB (Park Ridge Nursing Home) Series 2008 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 11,010,000 | 11,010,000 | |
Lancaster IDA | ||||||
Civic Facility RB (GreenField Manor) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 1.05% | 07/07/22 | 10,500,000 | 10,500,000 | |
IDRB (Sealing Devices) Series 2007 (LOC: HSBC BANK USA NA) | (a)(b) | 0.98% | 07/07/22 | 955,000 | 955,000 | |
IDRB (Sealing Devices) Series 2016 (LOC: HSBC BANK USA NA) | (a)(b) | 0.96% | 07/07/22 | 2,680,000 | 2,680,000 | |
Metropolitan Transportation Auth | ||||||
Dedicated Tax Fund Bonds Series 2016B-1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,335,000 | 3,335,000 | |
Dedicated Tax Fund Bonds Series 2017A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 7,500,000 | 7,500,000 | |
Dedicated Tax Fund Bonds Series 2017B-1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.95% | 07/07/22 | 7,500,000 | 7,500,000 | |
Dedicated Tax Fund Refunding Bonds Series 2008A-1 (LOC: TD BANK NA) | (a)(b) | 0.60% | 07/01/22 | 3,255,000 | 3,255,000 | |
Dedicated Tax Fund Refunding Bonds Series 2008A-2A (LOC: TD BANK NA) | (a)(b) | 0.60% | 07/01/22 | 1,000,000 | 1,000,000 | |
Dedicated Tax Fund Refunding Bonds Series 2012A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
Dedicated Tax Fund Refunding Bonds Series 2016A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,345,000 | 1,345,000 | |
Refunding RB Series 2020B2 (LOC: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.91% | 07/07/22 | 5,000,000 | 5,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Monroe Cnty IDA | ||||||
Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 0.98% | 07/07/22 | 7,485,000 | 7,485,000 | |
New York City | ||||||
GO Bonds Fiscal 1995 Series B5 | 5.00% | 08/15/22 | 100,000 | 100,584 | ||
GO Bonds Fiscal 2006 Series I5 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,500,000 | 1,500,000 | |
GO Bonds Fiscal 2012 Series A4 (LOC: MUFG BANK LTD) | (a)(b) | 0.90% | 07/07/22 | 19,300,000 | 19,300,000 | |
GO Bonds Fiscal 2012 Series A5 (LIQ: ROYAL BANK OF CANADA) | (c)(d) | 1.01% | 07/07/22 | 14,165,000 | 14,165,000 | |
GO Bonds Fiscal 2012 Series D3B (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,900,000 | 1,900,000 | |
GO Bonds Fiscal 2012 Series G6 (LOC: MIZUHO BANK LTD) | (a)(b) | 0.61% | 07/01/22 | 575,000 | 575,000 | |
GO Bonds Fiscal 2012 Series I | 5.00% | 08/01/22 | 1,000,000 | 1,003,035 | ||
GO Bonds Fiscal 2013 Series J | 5.00% | 08/01/22 | 100,000 | 100,331 | ||
GO Bonds Fiscal 2014 Series B | 5.00% | 08/01/22 | 475,000 | 476,543 | ||
GO Bonds Fiscal 2014 Series G | 5.00% | 08/01/22 | 3,475,000 | 3,486,840 | ||
GO Bonds Fiscal 2015 Series F5 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.62% | 07/01/22 | 500,000 | 500,000 | |
GO Bonds Fiscal 2015 Series F7 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,830,000 | 7,830,000 | |
GO Bonds Fiscal 2016 Series E | 5.00% | 08/01/22 | 265,000 | 265,798 | ||
GO Bonds Fiscal 2017 Series A5 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 540,000 | 540,000 | |
GO Bonds Fiscal 2018 Series 1 | 5.00% | 08/01/22 | 1,000,000 | 1,003,132 | ||
GO Bonds Fiscal 2018 Series B1 (LIQ: US BANK NATIONAL ASSOCIATION) | (a)(c)(d) | 0.96% | 07/07/22 | 4,760,000 | 4,760,000 | |
GO Bonds Fiscal 2018 Series F1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,705,000 | 3,705,000 | |
GO Bonds Fiscal 2018 Series F1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,515,000 | 2,515,000 | |
GO Bonds Fiscal 2019 Series D (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,005,000 | 4,005,000 | |
GO Bonds Fiscal 2019 Series E | 5.00% | 08/01/22 | 280,000 | 280,829 | ||
GO Bonds Fiscal 2020 Series A1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,260,000 | 4,260,000 | |
GO Bonds Fiscal 2020 Series D1 (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,000,000 | 3,000,000 | |
GO Bonds Fiscal 2021 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,245,000 | 1,245,000 | |
GO Bonds Fiscal 2021 Series C (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,340,000 | 3,340,000 | |
GO Bonds Fiscal 2021 Series F1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,400,000 | 3,400,000 | |
GO Bonds Fiscal 2022 Series D1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,485,000 | 3,485,000 | |
GO Bonds Fiscal 2022 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.65% | 07/01/22 | 10,225,000 | 10,225,000 | |
GO Bonds Series 2013 A-5 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.91% | 07/07/22 | 400,000 | 400,000 | |
New York City Housing Development Corp | ||||||
M/F Housing RB Series 2021F3 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.90% | 07/07/22 | 3,600,000 | 3,600,000 | |
M/F Housing RB Series 2022C3 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.91% | 07/07/22 | 2,500,000 | 2,500,000 | |
M/F Mortgage RB (East Clarke Place Associates) Series 2005A (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 1.00% | 07/07/22 | 2,030,000 | 2,030,000 | |
M/F Mortgage RB (Granville Payne Apts) Series 2006A (LOC: CITIBANK NA) | (a)(b) | 0.97% | 07/07/22 | 5,110,000 | 5,110,000 | |
M/F Mortgage RB (State Renaissance Court) Series 2004A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.96% | 07/07/22 | 8,100,000 | 8,100,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
M/F Rental Housing RB (Related - W 89th St) Series 2000A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 2,000,000 | 2,000,000 | |
M/F Rental Housing RB (The Foundry) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 4,000,000 | 4,000,000 | |
New York City IDA | ||||||
Empowerment Zone RB (Tiago Holdings) Series 2007 (LOC: TD BANK NA) | (a)(b) | 0.89% | 07/07/22 | 8,350,000 | 8,350,000 | |
New York City Municipal Water Finance Auth | ||||||
Water & Sewer System 2nd General Resolution RB Fiscal 2015 Series FF (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,000,000 | 4,000,000 | |
Water & Sewer System 2nd General Resolution RB Fiscal 2016 Series AA3 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.68% | 07/01/22 | 675,000 | 675,000 | |
Water & Sewer System 2nd General Resolution RB Fiscal 2019 Series CC (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2008 Series BB3&BB4 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.68% | 07/01/22 | 4,935,000 | 4,935,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2013 Series BB (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 770,000 | 770,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.64% | 07/01/22 | 500,000 | 500,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 (LIQ: BARCLAYS BANK PLC) | (a)(b) | 0.62% | 07/01/22 | 1,255,000 | 1,255,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2016 Series AA2 (LIQ: PNC BANK NATIONAL ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 2,000,000 | 2,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.62% | 07/01/22 | 22,500,000 | 22,500,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 4,350,000 | 4,350,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD&EE (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 250,000 | 250,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2019 Series EE2 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 635,000 | 635,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 665,000 | 665,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 & 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 Series AA (LIQ: UBS AG) | (a)(c)(d) | 0.94% | 07/07/22 | 570,000 | 570,000 | |
New York City Transitional Finance Auth | ||||||
Building Aid RB Fiscal 2013 Series S1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,000,000 | 6,000,000 | |
Building Aid RB Fiscal 2015 Series S2 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
Building Aid RB Fiscal 2021 Series S1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 13,470,000 | 13,470,000 | |
Future Tax Sec Sub Bonds Fiscal Series 2018C3 & 2020B1 & 2021C1 (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,795,000 | 7,795,000 | |
Future Tax Secured Sub Bonds Fiscal 2016 Series A1 | 5.00% | 08/01/22 | 225,000 | 225,807 | ||
Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 3,775,000 | 3,775,000 | |
Future Tax Secured Sub Bonds Fiscal 2017 Series B | 5.00% | 08/01/22 | 110,000 | 110,442 | ||
Future Tax Secured Sub Bonds Fiscal 2018 Series 1 | 5.00% | 11/01/22 | 115,000 | 116,737 | ||
Future Tax Secured Sub Bonds Fiscal 2019 Series A1 | 5.00% | 08/01/22 | 485,000 | 486,455 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b) | 0.65% | 07/01/22 | 1,250,000 | 1,250,000 | |
Future Tax Secured Sub Bonds Fiscal 2020 Series C1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 1,700,000 | 1,700,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series B1 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,840,000 | 1,840,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 900,000 | 900,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,105,000 | 2,105,000 | |
Future Tax Secured Sub Bonds Fiscal Series 2013 B | 5.00% | 11/01/22 | 690,000 | 700,757 | ||
Future Tax Secured Sub RB Fiscal 2012 Series F1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 950,000 | 950,000 | |
Future Tax Secured Sub RB Fiscal 2014 Series A1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,780,000 | 5,780,000 | |
Future Tax Secured Sub RB Fiscal 2018 Series C6 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 0.89% | 07/07/22 | 14,100,000 | 14,100,000 | |
Future Tax Secured Sub RB Fiscal 2022 Series B1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
New York City Trust for Cultural Resources | ||||||
Refunding RB (American Museum of Natural History) Series 2014B1 (SIFMA Municipal Swap Index + 0.15%) | (a) | 1.06% | 07/07/22 | 12/29/22 | 10,900,000 | 10,900,000 |
Refunding RB (American Museum of Natural History) Series 2014B2 (SIFMA Municipal Swap Index + 0.04%) | (a) | 0.95% | 07/07/22 | 08/29/22 | 5,500,000 | 5,500,000 |
New York Liberty Development Corp | ||||||
Liberty Refunding RB (4WTC) Series 2021A (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,090,000 | 3,090,000 | |
New York State Dormitory Auth | ||||||
NYC Court Facilities Lease RB Series 2005B (LOC: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,000,000 | 7,000,000 | |
RB (Northwell Health) Series 2022A (LOC: BANK OF AMERICA NA) | (a)(c)(d) | 0.96% | 07/07/22 | 2,665,000 | 2,665,000 | |
State Personal Income Tax RB Series 2013A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,000,000 | 2,000,000 | |
State Personal Income Tax RB Series 2015E (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,950,000 | 4,950,000 | |
State Personal Income Tax RB Series 2018A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,830,000 | 2,830,000 | |
State Personal Income Tax RB Series 2018A, 2021E, 2022A, 2019A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,310,000 | 9,310,000 | |
State Personal Income Tax RB Series 2019D (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 905,000 | 905,000 | |
State Personal Income Tax RB Series 2019D (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,315,000 | 5,315,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 2,310,000 | 2,310,000 | |
State Personal Income Tax RB Series 2020A 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 735,000 | 735,000 | |
State Personal Income Tax RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 3,900,000 | 3,900,000 | |
State Personal Income Tax RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,980,000 | 9,980,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,300,000 | 2,300,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
State Personal Income Tax Refunding RB Series 2012A (ESCROW) | 4.00% | 12/15/22 | 100,000 | 101,678 | ||
State Sales Tax RB Series 2015B (LIQ: WELLS FARGO BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,960,000 | 7,960,000 | |
State Sales Tax RB Series 2018C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,680,000 | 7,680,000 | |
State Sales Tax RB Series 2018E (LIQ: CITIBANK NA) | (a)(c)(d) | 0.93% | 07/07/22 | 9,570,000 | 9,570,000 | |
New York State Environmental Facilities Corp | ||||||
State Clean Water & Drinking Water Revolving Funds Sub RB Series 2017E (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,000,000 | 5,000,000 | |
New York State HFA | ||||||
Housing RB (250 W 93rd St) Series 2005A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.94% | 07/07/22 | 12,975,000 | 12,975,000 | |
Housing RB (316 11th Ave) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.97% | 07/07/22 | 19,995,000 | 19,995,000 | |
Housing RB (55 W 25th Street) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.95% | 07/07/22 | 19,000,000 | 19,000,000 | |
Housing RB (600 W 42nd St) Series 2008A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.96% | 07/07/22 | 22,060,000 | 22,060,000 | |
Housing RB (600 W 42nd Street) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 26,240,000 | 26,240,000 | |
Housing RB (750 6th Ave) Series 1998A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.95% | 07/07/22 | 2,000,000 | 2,000,000 | |
Housing RB (900 8th Avenue) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.98% | 07/07/22 | 4,100,000 | 4,100,000 | |
Housing RB (Gateway to New Cassel) Series 2006A (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 1.01% | 07/07/22 | 5,200,000 | 5,200,000 | |
Housing RB (Historic Front St) Series 2003A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 0.91% | 07/07/22 | 5,000,000 | 5,000,000 | |
Housing RB (Saville Housing) Series 2002A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.95% | 07/07/22 | 30,000,000 | 30,000,000 | |
Housing RB (Theatre Row Tower) Series 2000A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a)(b) | 0.97% | 07/07/22 | 11,700,000 | 11,700,000 | |
Housing RB (Tribeca Park) Series 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.93% | 07/07/22 | 6,100,000 | 6,100,000 | |
Housing RB (W. 23rd St.) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a)(b) | 0.92% | 07/07/22 | 6,000,000 | 6,000,000 | |
Housing RB (West Village Apts) Series 2008A (LOC: CITIBANK NA) | (a)(b) | 1.01% | 07/07/22 | 5,100,000 | 5,100,000 | |
New York State Mortgage Agency | ||||||
Homeowner Mortgage RB Series 231 (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,495,000 | 3,495,000 | |
Homeowner Mortgage RB Series 236 (LIQ: UBS AG) | (a)(b) | 0.93% | 07/07/22 | 12,280,000 | 12,280,000 | |
New York State Power Auth | ||||||
CP Series 1 | 0.80% | 07/13/22 | 2,400,000 | 2,400,000 | ||
CP Series 2 | 0.78% | 07/06/22 | 1,521,000 | 1,521,000 | ||
CP Series 2 | 1.00% | 07/06/22 | 1,461,000 | 1,461,000 | ||
CP Series 2 | 1.10% | 07/11/22 | 16,000,000 | 16,000,000 | ||
RB Series 2020A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,500,000 | 1,500,000 | |
RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,000,000 | 1,000,000 | |
RB Series 2020A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 8,000,000 | 8,000,000 | |
RB Series 2020A (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,340,000 | 1,340,000 | |
RB Series 2020A (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.94% | 07/07/22 | 3,325,000 | 3,325,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New York State Thruway Auth | ||||||
State Personal Income Tax RB Series 2021A1 (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.94% | 07/07/22 | 790,000 | 790,000 | |
State Personal Income Tax RB Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,020,000 | 7,020,000 | |
State Personal Income Tax RB Series 2021A-1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,700,000 | 4,700,000 | |
New York State Urban Development Corp | ||||||
State Personal Income Tax RB Series 2013A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 4,665,000 | 4,665,000 | |
State Personal Income Tax RB Series 2019A (LIQ: CITIBANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,330,000 | 3,330,000 | |
State Sales Tax RB Series 2019A 2021A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 2,770,000 | 2,770,000 | |
State Sales Tax RB Series 2021A (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 6,700,000 | 6,700,000 | |
Nuveen New York AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 3 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b)(c) | 0.96% | 07/07/22 | 2,700,000 | 2,700,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 0.95% | 07/07/22 | 40,000,000 | 40,000,000 | |
Onondaga Cnty IDA | ||||||
IDRB (G.A. Braun Inc) Series 2007 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 1.13% | 07/07/22 | 4,695,000 | 4,695,000 | |
Port Auth of New York & New Jersey | ||||||
Consolidated Bonds 177th Series (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.98% | 07/07/22 | 1,700,000 | 1,700,000 | |
Consolidated Bonds 194th Series (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.99% | 07/07/22 | 11,800,000 | 11,800,000 | |
Consolidated Bonds 206th Series (LIQ: CITIBANK NA) | (a)(c)(d) | 0.96% | 07/07/22 | 2,500,000 | 2,500,000 | |
Consolidated Bonds 206th Series (LIQ: TORONTO-DOMINION BANK/THE) | (a)(c)(d) | 0.95% | 07/07/22 | 2,000,000 | 2,000,000 | |
Consolidated Bonds 207th Series (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.98% | 07/07/22 | 2,665,000 | 2,665,000 | |
Consolidated Bonds 221st Series (LIQ: BARCLAYS BANK PLC) | (a)(c)(d) | 0.98% | 07/07/22 | 1,310,000 | 1,310,000 | |
Consolidated Bonds 230th Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.95% | 07/07/22 | 895,000 | 895,000 | |
Consolidated Bonds 231st Series (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.99% | 07/07/22 | 655,000 | 655,000 | |
CP Series A | 1.25% | 07/21/22 | 11,000,000 | 11,000,000 | ||
Ravena-Coeymans-Selkirk CSD | ||||||
BAN 2021 | 1.50% | 08/12/22 | 5,650,000 | 5,655,851 | ||
Rondout Valley CSD | ||||||
GO BANs 2022 | 3.50% | 06/28/23 | 7,000,000 | 7,042,141 | ||
Sales Tax Asset Receivable Corp | ||||||
Sales Tax Asset RB Fiscal 2015 Series A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,085,000 | 1,085,000 | |
Triborough Bridge & Tunnel Auth | ||||||
General RB Series 2003B1 (LOC: US BANK NATIONAL ASSOCIATION) | (a)(b) | 0.65% | 07/01/22 | 6,655,000 | 6,655,000 | |
General RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,655,000 | 3,655,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2021A1 (LIQ: MORGAN STANLEY BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 7,970,000 | 7,970,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 5,625,000 | 5,625,000 | |
RB (MTA Bridges & Tunnels) Series 2021A (LIQ: BANK OF AMERICA NA) | (a)(c)(d) | 0.94% | 07/07/22 | 1,875,000 | 1,875,000 | |
RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 950,000 | 950,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Refunding RB Series 2005B-3 (LOC: STATE STREET BANK AND TRUST COMPANY) | (a)(b) | 0.64% | 07/01/22 | 500,000 | 500,000 | |
Sr Lien RB (MTA Bridges & Tunnels) Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 9,040,000 | 9,040,000 | |
Sr. Lien RB Series 2022C (LIQ: ROYAL BANK OF CANADA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,150,000 | 3,150,000 | |
Utility Debt Securitization Auth | ||||||
Restructuring Bonds Series 2013 (LIQ: JPMORGAN CHASE BANK NA) | (a)(c)(d) | 0.94% | 07/07/22 | 3,355,000 | 3,355,000 | |
Restructuring Bonds Series 2013 (LIQ: UBS AG) | (a)(c)(d) | 0.94% | 07/07/22 | 24,375,000 | 24,375,000 | |
Wappingers CSD | ||||||
BAN 2021 | 2.00% | 08/11/22 | 9,360,000 | 9,365,482 | ||
Warren & Washington Cnty IDA | ||||||
Civic Facility RB (Glen at Hiland Meadows) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 1.05% | 07/07/22 | 670,000 | 670,000 | |
899,992,493 | ||||||
Total Municipal Securities (Cost $899,992,493) | 899,992,493 | |||||
U.S. GOVERNMENT AGENCY DEBT 1.8% OF NET ASSETS | ||||||
Federal Home Loan Banks | ||||||
1.00% | 07/08/22 | 7,000,000 | 6,998,639 | |||
0.90% | 07/01/22 | 10,000,000 | 10,000,000 | |||
Total U.S. Government Agency Debt (Cost $16,998,639) | 16,998,639 | |||||
Total Investments in Securities (Cost $916,991,132) | 916,991,132 |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
(c) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $432,280,000 or 47.1% of net assets. |
(d) | TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
BAN — | Bond anticipation note |
CNTY — | County |
CP — | Commercial paper |
CSD — | Central school district |
GO — | General obligation |
HFA — | Housing finance agency/authority |
IDA — | Industrial development agency/authority |
IDRB — | Industrial development revenue bond |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
M/F — | Multi-family |
RB — | Revenue bond |
SD — | School district |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
TOB — | Tender option bond |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $916,991,132 | |
Receivables: | ||
Fund shares sold | 16,576,129 | |
Interest | 1,196,636 | |
Prepaid expenses | + | 21,426 |
Total assets | 934,785,323 | |
Liabilities | ||
Payables: | ||
Due to custodian | 13,522,779 | |
Investments bought | 2,300,059 | |
Fund shares redeemed | 620,187 | |
Distributions to shareholders | 270,617 | |
Investment adviser and administrator fees | 123,370 | |
Accrued expenses | + | 79,798 |
Total liabilities | 16,916,810 | |
Net assets | $917,868,513 | |
Net Assets by Source | ||
Capital received from investors | $917,909,725 | |
Total distributable loss | + | (41,212) |
Net assets | $917,868,513 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $455,291,025 | 455,083,883 | $1.00 | ||
Ultra Shares | $462,577,488 | 462,370,450 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $1,632,959 | |
Expenses | ||
Investment adviser and administrator fees | 607,049 | |
Shareholder service fees: | ||
Investor Shares | 327,956 | |
Portfolio accounting fees | 47,098 | |
Professional fees | 21,962 | |
Registration fees | 19,031 | |
Independent trustees’ fees | 12,695 | |
Custodian fees | 5,036 | |
Shareholder reports | 3,090 | |
Transfer agent fees | 616 | |
Other expenses | + | 4,261 |
Total expenses | 1,048,794 | |
Expense reduction | – | 284,320 |
Net expenses | – | 764,474 |
Net investment income | 868,485 | |
REALIZED GAINS (LOSSES) | ||
Net realized losses on sales of securities - unaffiliated | (42,543) | |
Increase in net assets resulting from operations | $825,942 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $868,485 | $74,939 | |
Net realized gains (losses) | + | (42,543) | 221,870 |
Increase in net assets from operations | $825,942 | $296,809 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($428,616) | ($297,458) | |
Ultra Shares | + | (438,700) | (59,768) |
Total distributions | ($867,316) | ($357,226) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 146,977,812 | 113,346,323 | |
Ultra Shares | + | 487,018,033 | 111,772,580 |
Total shares sold | 633,995,845 | 225,118,903 | |
Shares Reinvested | |||
Investor Shares | 264,736 | 264,270 | |
Ultra Shares | + | 219,859 | 38,346 |
Total shares reinvested | 484,595 | 302,616 | |
Shares Redeemed | |||
Investor Shares | (161,927,409) | (311,534,023) | |
Ultra Shares | + | (122,482,205) | (133,032,255) |
Total shares redeemed | (284,409,614) | (444,566,278) | |
Net transactions in fund shares | 350,070,826 | (219,144,759) | |
NET ASSETS | |||
Beginning of period | $567,839,061 | $787,044,237 | |
Total increase (decrease) | + | 350,029,452 | (219,205,176) |
End of period | $917,868,513 | $567,839,061 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS (ORGANIZED OCTOBER 20, 1989) | |
Schwab Government Money Fund | Schwab Retirement Government Money Fund |
Schwab U.S. Treasury Money Fund | Schwab Municipal Money Fund |
Schwab Treasury Obligations Money Fund | Schwab AMT Tax-Free Money Fund |
Schwab Value Advantage Money Fund® | Schwab California Municipal Money Fund |
Schwab Variable Share Price Money Fund | Schwab New York Municipal Money Fund |
SCHWAB CALIFORNIA MUNICIPAL MONEY FUND | SCHWAB NEW YORK MUNICIPAL MONEY FUND | |
% of total assets in securities with credit enhancements or liquidity enhancements | 82% | 87% |
% of total assets in securities with credit enhancements or liquidity enhancements 10% or greater from a single institution | 12% | 12% |
(Bank of America NA) | (JPMorgan Chase Bank NA) |
SHAREHOLDER SERVICING FEE | |
Investor Shares | 0.15% |
Ultra Shares | n/a |
SCHWAB CALIFORNIA MUNICIPAL MONEY FUND | SCHWAB NEW YORK MUNICIPAL MONEY FUND | |
Investor Shares | 0.34% | 0.34% |
Ultra Shares | 0.19% | 0.19% |
CONTRACTUAL EXPENSE LIMITATION WAIVED AMOUNT | VOLUNTARY YIELD WAIVER/ REIMBURSEMENT AMOUNT | TOTAL WAIVED AMOUNT | |
Schwab California Municipal Money Fund | $178,155 | $866,185 | $1,044,340 |
Schwab New York Municipal Money Fund | 113,704 | 170,616 | 284,320 |
PURCHASE COST | SALE PROCEEDS | REALIZED GAINS (LOSSES) | |
Schwab California Municipal Money Fund | $316,903,061 | $— | $— |
Schwab New York Municipal Money Fund | 21,637,439 | 31,787,725 | 0 |
TAX COST | |
Schwab California Municipal Money Fund | $5,014,198,829 |
Schwab New York Municipal Money Fund | 916,991,132 |
PRIOR FISCAL YEAR END DISTRIBUTIONS | |||
TAX-EXEMPT INCOME | ORDINARY INCOME | LONG-TERM CAPITAL GAINS | |
Schwab California Municipal Money Fund | $349,944 | $156,369 | $415,499 |
Schwab New York Municipal Money Fund | 67,184 | 124,300 | 165,742 |
Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
Walter W. Bettinger II | 43,824,068,459.769 | 4,913,609,626.434 |
Richard A. Wurster | 44,130,639,925.330 | 4,607,038,160.873 |
Michael J. Beer | 44,133,522,767.969 | 4,604,155,318.234 |
Robert W. Burns | 44,113,097,923.941 | 4,624,580,162.262 |
Nancy F. Heller | 44,253,687,915.276 | 4,483,990,170.927 |
David L. Mahoney | 43,236,148,053.937 | 5,501,530,032.266 |
Jane P. Moncreiff | 44,248,881,171.347 | 4,488,796,914.856 |
Kiran M. Patel | 44,063,143,583.435 | 4,674,534,502.768 |
Kimberly S. Patmore | 44,124,853,956.622 | 4,612,824,129.581 |
J. Derek Penn | 44,116,668,865.038 | 4,621,009,221.165 |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Linda Klingman, Managing Director and Head of Money Market Strategies for Schwab Asset Management, leads the portfolio management teams for taxable and tax-exempt Schwab Money Funds, and has overall responsibility for all aspects of the management of the fund. Prior to joining Schwab in 1990, she was a senior money market trader with AIM Management, Inc. for five years. She has managed money market funds since 1988. |
Lynn Paschen, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining Schwab in 2011, Ms. Paschen held a number of positions at American Century Investments. She was most recently a portfolio manager and, from 2000 to 2003, worked as a fixed-income trader. She has managed money market funds since 2003. |
Nicole Perret-Gentil, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining Schwab in 2016, Ms. Perret-Gentil worked at Freddie Mac for 15 years, most recently as a senior portfolio manager where she managed and executed trades for a fixed-income strategy. Prior to that role, she served as a portfolio manager performing fixed-income analysis, a senior research analyst for investor and dealer relations, a senior securities operations analyst in loan and securities operations, and a lead mortgage securities operations specialist. She also worked at Merrill Lynch for a year as a senior specialist in fixed-income global banking and investments. |
Weighted Average Maturity2 | 22 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab Retirement Government Money Fund | |
Ticker Symbol | SNRXX |
Minimum Initial Investment2 | $1,000,000 |
Seven-Day Yield (with waivers)3 | 1.21% |
Seven-Day Yield (without waivers)3 | 1.19% |
Seven-Day Effective Yield (with waivers)3 | 1.22% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in October and December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 4. |
EXPENSE RATIO (ANNUALIZED) 1,2 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/223 | |
Schwab Retirement Government Money Fund | ||||
Actual Return | 0.15% | $1,000.00 | $1,001.40 | $0.74 |
Hypothetical 5% Return | 0.15% | $1,000.00 | $1,024.05 | $0.75 |
1 | Based on the most recent six-month expense ratio. |
2 | Expense ratio (annualized) reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
3 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by the 365 days of the fiscal year. |
1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.00 2 | 0.00 2 | 0.00 2 | 0.02 | 0.02 | 0.01 |
Net realized and unrealized gains (losses) | 0.00 2 | 0.00 2 | 0.00 2 | — | 0.00 2 | 0.00 2 |
Total from investment operations | 0.00 2 | 0.00 2 | 0.00 2 | 0.02 | 0.02 | 0.01 |
Less distributions: | ||||||
Distributions from net investment income | (0.00) 2 | (0.00) 2 | (0.00) 2 | (0.02) | (0.02) | (0.01) |
Distributions from net realized gains | — | (0.00) 2 | (0.00) 2 | — | (0.00) 2 | — |
Total distributions | (0.00) 2 | (0.00) 2 | (0.00) 2 | (0.02) | (0.02) | (0.01) |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return | 0.14% 3 | 0.01% | 0.40% | 2.07% | 1.69% | 0.70% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.15% 4,5 | 0.07% 5 | 0.18% 5 | 0.19% | 0.19% | 0.20% 6 |
Gross operating expenses | 0.21% 4 | 0.21% | 0.31% | 0.35% | 0.38% | 0.37% |
Net investment income (loss) | 0.28% 4 | 0.01% | 0.38% | 2.01% | 1.68% | 0.72% |
Net assets, end of period (x 1,000,000) | $1,639 | $1,610 | $1,804 | $2,072 | $1,019 | $876 |
* | Unaudited. |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Not annualized. |
4 | Annualized. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 4) |
6 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. GOVERNMENT AGENCY DEBT 14.5% OF NET ASSETS | ||||||
FEDERAL FARM CREDIT BANKS FUNDING CORP | ||||||
0.07% | 07/06/22 | 1,300,000 | 1,299,987 | |||
(SOFR + 0.04%) | (a) | 1.55% | 07/01/22 | 07/08/22 | 5,000,000 | 4,999,995 |
0.20% | 07/13/22 | 8,800,000 | 8,800,344 | |||
0.07% | 07/19/22 | 3,100,000 | 3,099,891 | |||
(SOFR + 0.09%) | (a) | 1.60% | 07/01/22 | 07/25/22 | 4,500,000 | 4,499,985 |
0.10% | 08/02/22 | 3,600,000 | 3,600,043 | |||
0.09% | 08/18/22 | 2,000,000 | 1,999,760 | |||
0.11% | 08/31/22 | 1,800,000 | 1,799,664 | |||
(EFFR - 0.02%) | (a) | 1.56% | 07/01/22 | 09/08/22 | 10,400,000 | 10,400,000 |
1.70% | 09/19/22 | 400,000 | 401,375 | |||
0.99% | 10/11/22 | 1,100,000 | 1,096,946 | |||
1.01% | 10/12/22 | 1,700,000 | 1,695,136 | |||
0.19% | 10/13/22 | 900,000 | 900,000 | |||
1.03% | 10/17/22 | 2,100,000 | 2,093,574 | |||
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 10/21/22 | 6,400,000 | 6,400,000 |
0.15% | 11/16/22 | 4,900,000 | 4,899,588 | |||
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 12/28/22 | 16,000,000 | 16,003,582 |
(3 mo. US TBILL + 0.02%) | (a) | 1.78% | 07/06/22 | 05/01/23 | 6,500,000 | 6,500,000 |
(3 mo. US TBILL + 0.03%) | (a) | 1.78% | 07/06/22 | 07/13/23 | 2,600,000 | 2,600,000 |
(EFFR - 0.01%) | (a) | 1.57% | 07/01/22 | 07/21/23 | 8,800,000 | 8,800,000 |
(SOFR + 0.03%) | (a) | 1.54% | 07/01/22 | 08/28/23 | 2,700,000 | 2,700,000 |
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 11/07/23 | 2,200,000 | 2,200,000 |
(SOFR + 0.04%) | (a) | 1.55% | 07/01/22 | 11/28/23 | 1,500,000 | 1,500,000 |
(EFFR + 0.03%) | (a) | 1.61% | 07/01/22 | 12/08/23 | 1,300,000 | 1,300,000 |
(SOFR + 0.12%) | (a) | 1.63% | 07/01/22 | 12/08/23 | 2,400,000 | 2,402,095 |
(SOFR + 0.06%) | (a) | 1.57% | 07/01/22 | 12/13/23 | 1,700,000 | 1,700,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
FEDERAL HOME LOAN BANKS | ||||||
(SOFR + 0.01%) | (a) | 1.52% | 07/01/22 | 07/18/22 | 4,300,000 | 4,300,000 |
(SOFR + 0.01%) | (a) | 1.52% | 07/01/22 | 08/05/22 | 10,500,000 | 10,500,000 |
0.13% | 08/12/22 | 2,220,000 | 2,220,073 | |||
1.68% | 08/26/22 | 4,400,000 | 4,388,570 | |||
(SOFR + 0.01%) | (a) | 1.52% | 07/01/22 | 08/30/22 | 4,300,000 | 4,300,000 |
3.13% | 09/09/22 | 1,200,000 | 1,206,974 | |||
1.90% | 09/19/22 | 8,800,000 | 8,763,040 | |||
1.90% | 09/20/22 | 10,000,000 | 9,957,475 | |||
0.21% | 12/02/22 | 6,200,000 | 6,200,000 | |||
2.17% | 02/06/23 | 1,700,000 | 1,705,495 | |||
2.15% | 02/08/23 | 2,000,000 | 2,006,291 | |||
1.25% | 03/21/23 | 3,000,000 | 3,000,000 | |||
1.02% | 03/30/23 | 4,200,000 | 4,200,000 | |||
(b) | 1.13% | 03/30/23 | 3,100,000 | 3,099,537 | ||
(b) | 1.28% | 04/05/23 | 4,300,000 | 4,300,000 | ||
(b) | 1.60% | 05/02/23 | 4,400,000 | 4,400,000 | ||
2.00% | 05/23/23 | 4,300,000 | 4,300,000 | |||
(b) | 1.90% | 06/02/23 | 3,400,000 | 3,400,000 | ||
(b) | 2.75% | 07/14/23 | 5,400,000 | 5,400,000 | ||
FEDERAL HOME LOAN MORTGAGE CORPORATION | ||||||
(SOFR + 0.10%) | (a) | 1.61% | 07/01/22 | 08/19/22 | 17,800,000 | 17,800,000 |
(SOFR + 0.10%) | (a) | 1.61% | 07/01/22 | 09/09/22 | 17,500,000 | 17,500,000 |
(b) | 1.40% | 04/21/23 | 4,300,000 | 4,300,000 | ||
FEDERAL NATIONAL MORTGAGE ASSOCIATION | ||||||
2.00% | 08/26/22 | 950,000 | 952,782 | |||
1.38% | 09/06/22 | 600,000 | 601,400 | |||
0.25% | 05/22/23 | 4,800,000 | 4,722,217 | |||
Total U.S. Government Agency Debt (Cost $237,215,819) | 237,215,819 | |||||
U.S. TREASURY DEBT 11.6% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
0.09% | 07/14/22 | 8,900,000 | 8,899,711 | |||
0.13% | 07/31/22 | 4,300,000 | 4,300,172 | |||
1.88% | 07/31/22 | 6,300,000 | 6,309,336 | |||
2.00% | 07/31/22 | 4,500,000 | 4,507,131 | |||
0.11% | 08/11/22 | 5,600,000 | 5,599,330 | |||
1.50% | 08/15/22 | 25,000,000 | 25,043,967 | |||
0.13% | 08/31/22 | 13,100,000 | 13,101,070 | |||
1.63% | 08/31/22 | 11,200,000 | 11,227,526 | |||
1.88% | 08/31/22 | 6,000,000 | 6,018,022 | |||
1.50% | 09/15/22 | 21,300,000 | 21,362,734 | |||
0.13% | 09/30/22 | 11,100,000 | 11,101,022 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
1.75% | 09/30/22 | 8,100,000 | 8,133,527 | |||
1.88% | 09/30/22 | 5,500,000 | 5,523,740 | |||
0.13% | 10/31/22 | 7,100,000 | 7,071,397 | |||
(3 mo. US TBILL + 0.05%) | (a) | 1.81% | 07/01/22 | 01/31/23 | 10,700,000 | 10,701,169 |
2.00% | 02/15/23 | 4,200,000 | 4,224,205 | |||
0.13% | 02/28/23 | 4,400,000 | 4,350,562 | |||
2.63% | 02/28/23 | 5,900,000 | 5,928,973 | |||
0.13% | 03/31/23 | 7,000,000 | 6,892,515 | |||
2.50% | 03/31/23 | 4,100,000 | 4,126,726 | |||
0.13% | 04/30/23 | 1,800,000 | 1,769,136 | |||
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 04/30/23 | 6,100,000 | 6,100,462 |
(3 mo. US TBILL + 0.03%) | (a) | 1.79% | 07/01/22 | 07/31/23 | 4,500,000 | 4,500,074 |
(3 mo. US TBILL + 0.04%) | (a) | 1.79% | 07/01/22 | 10/31/23 | 4,100,000 | 4,099,945 |
Total U.S. Treasury Debt (Cost $190,892,452) | 190,892,452 | |||||
VARIABLE RATE DEMAND NOTES 0.5% OF NET ASSETS | ||||||
BRIDGE WF II PARKWAY CLUB LLC | ||||||
TAXABLE M/F HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.64% | 07/07/22 | 3,100,000 | 3,100,000 | |
GINA RISTOW BELLING 2022 | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.63% | 07/07/22 | 900,000 | 900,000 | |
LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES & COMMUNITY DEVELOPMENT AUTH | ||||||
RB (LOUISE S. MCGEHEE SCHOOL) SERIES 2010 (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 1.05% | 07/07/22 | 65,000 | 65,000 | |
RIVERSIDE HOME LENDING | ||||||
TAXABLE S/F RENTAL HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (a)(c) | 0.92% | 07/07/22 | 4,200,000 | 4,200,000 | |
Total Variable Rate Demand Notes (Cost $8,265,000) | 8,265,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 73.5% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 59.6% | ||||||
BANCO SANTANDER SA | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 1,000,043 | 1,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,030,001, 2.00% - 9.00%, due 04/01/23 - 09/01/57) | ||||||
BANK OF MONTREAL | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 5,000,215 | 5,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $5,150,223, 4.50%, due 06/01/52) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 06/16/22, repurchase date 07/28/22 | 1.56% | 07/07/22 | 14,012,740 | 14,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $14,446,161, 1.75% - 4.00%, due 12/01/25 - 06/15/57) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 135,005,813 | 135,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $141,756,104, 4.86% - 7.50%, due 09/25/38 - 06/25/41) | ||||||
BOFA SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 160,006,889 | 160,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $164,800,000, 1.61% - 4.08%, due 11/01/25 - 10/01/51) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 80,003,444 | 80,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $83,157,878, 0.25% - 4.50%, due 03/15/24 - 06/01/52) | ||||||
DEUTSCHE BANK AG (NEW YORK BRANCH) | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 55,002,368 | 55,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $57,202,463, 3.35%, due 06/15/24) | ||||||
GOLDMAN SACHS & CO LLC | ||||||
Issued 06/30/22, repurchase date 07/07/22 | 1.55% | 07/07/22 | 90,027,125 | 90,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $91,800,000, 2.50% - 5.50%, due 02/28/26 - 07/15/62) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 130,005,597 | 130,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $133,900,000, 1.75% - 8.50%, due 06/20/26 - 05/20/62) | ||||||
Issued 05/16/22, repurchase date 11/10/22 | (a) | 1.66% | 07/01/22 | 10/03/22 | 26,167,844 | 26,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $26,780,000, 1.12% - 6.50%, due 07/20/33 - 05/25/47) (SOFR + 0.15%) | ||||||
Issued 06/01/22, repurchase date 12/02/22 | (a) | 1.66% | 07/01/22 | 10/03/22 | 26,148,662 | 26,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $26,780,000, 1.12% - 5.50%, due 08/25/27 - 06/20/51) (SOFR + 0.15%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 130,005,597 | 130,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $132,600,062, 0.75%, due 11/15/24) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 80,003,444 | 80,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $82,403,548, 1.27% - 1.32%, due 11/20/51) | ||||||
ROYAL BANK OF CANADA | ||||||
Issued 04/29/22, repurchase date 08/01/22 | 1.04% | 07/07/22 | 42,083,720 | 42,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $43,377,475, 1.00% - 7.62%, due 12/01/27 - 02/01/57) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
WELLS FARGO SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 3,000,130 | 3,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $3,120,136, 4.00%, due 07/01/52) | ||||||
977,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 13.9% | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 6,718,474 | 6,718,185 | ||
(Collateralized by U.S. Treasury Securities valued at $6,852,893, 2.00%, due 11/15/26) | ||||||
BNP PARIBAS SA | ||||||
Issued 05/05/22, repurchase date 07/05/22 | 0.97% | 07/05/22 | 14,023,011 | 14,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $14,303,499, 0.00% - 2.88%, due 07/15/22 - 08/15/46) | ||||||
Issued 05/11/22, repurchase date 09/12/22 | 1.36% | 07/07/22 | 46,099,053 | 46,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $47,139,865, 0.38% - 7.25%, due 08/15/22 - 02/15/47) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 160,006,889 | 160,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $163,200,038, 0.38%, due 07/31/27) | ||||||
226,718,185 | ||||||
Total Repurchase Agreements (Cost $1,203,718,185) | 1,203,718,185 | |||||
Total Investments in Securities (Cost $1,640,091,456) | 1,640,091,456 |
* | Collateralized via U.S. Government Agency Securities or less frequently by higher rated U.S. Treasury Securities. |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | Step up security that pays an initial coupon rate for a set period and increased coupon rates at one or more preset intervals. Rate shown is as of period end. |
(c) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for overnight funds. |
FICC — | Fixed Income Clearing Corp |
LOC — | Letter of credit |
M/F — | Multi-family |
RB — | Revenue bond |
S/F — | Single-family |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by U.S. Treasury securities. |
US TBILL — | The reference rate is the weekly auction stop for the U.S. Treasury Bill. |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $436,373,271 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 1,203,718,185 | |
Receivables: | ||
Interest | 1,277,579 | |
Fund shares sold | 146,204 | |
Prepaid expenses | + | 16,985 |
Total assets | 1,641,532,224 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 1,718,410 | |
Distributions to shareholders | 806,533 | |
Investment adviser and administrator fees | 232,007 | |
Due to custodian | 6,838 | |
Accrued expenses | + | 99,921 |
Total liabilities | 2,863,709 | |
Net assets | $1,638,668,515 | |
Net Assets by Source | ||
Capital received from investors | $1,638,664,043 | |
Total distributable earnings | + | 4,472 |
Net assets | $1,638,668,515 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,638,668,515 | 1,638,662,853 | $1.00 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $3,400,070 | |
Expenses | ||
Investment adviser and administrator fees | 1,498,392 | |
Portfolio accounting fees | 52,879 | |
Custodian fees | 22,680 | |
Professional fees | 19,898 | |
Independent trustees’ fees | 13,599 | |
Registration fees | 11,948 | |
Shareholder reports | 3,949 | |
Transfer agent fees | 517 | |
Other expenses | + | 7,614 |
Total expenses | 1,631,476 | |
Expense reduction | – | 455,985 |
Net expenses | – | 1,175,491 |
Net investment income | 2,224,579 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 2,076 | |
Increase in net assets resulting from operations | $2,226,655 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $2,224,579 | $232,646 | |
Net realized gains | + | 2,076 | 11,218 |
Increase in net assets from operations | $2,226,655 | $243,864 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($2,222,183) | ($243,337) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares sold | 184,266,430 | 419,182,435 | |
Shares reinvested | 520,783 | 105,475 | |
Shares redeemed | + | (156,602,136) | (612,316,209) |
Net transactions in fund shares | 28,185,077 | (193,028,299) | |
NET ASSETS | |||
Beginning of period | $1,610,478,966 | $1,803,506,738 | |
Total increase (decrease) | + | 28,189,549 | (193,027,772) |
End of period | $1,638,668,515 | $1,610,478,966 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS (ORGANIZED OCTOBER 20, 1989) | |
Schwab Government Money Fund | Schwab Retirement Government Money Fund |
Schwab U.S. Treasury Money Fund | Schwab Municipal Money Fund |
Schwab Treasury Obligations Money Fund | Schwab AMT Tax-Free Money Fund |
Schwab Value Advantage Money Fund® | Schwab California Municipal Money Fund |
Schwab Variable Share Price Money Fund | Schwab New York Municipal Money Fund |
Governmental and quasi-governmental authorities and regulators throughout the world have in the past often responded to serious economic disruptions with a variety of significant fiscal and monetary policy changes which could have an unexpected impact on financial markets and the fund’s investments. As with any investment whose performance is tied to these markets, the value of an investment in the fund will fluctuate, which means that an investor could lose money over short or long periods.
6. Borrowing from Banks: |
PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | LONG-TERM CAPITAL GAINS |
$240,780 | $2,557 |
Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
Walter W. Bettinger II | 43,824,068,459.769 | 4,913,609,626.434 |
Richard A. Wurster | 44,130,639,925.330 | 4,607,038,160.873 |
Michael J. Beer | 44,133,522,767.969 | 4,604,155,318.234 |
Robert W. Burns | 44,113,097,923.941 | 4,624,580,162.262 |
Nancy F. Heller | 44,253,687,915.276 | 4,483,990,170.927 |
David L. Mahoney | 43,236,148,053.937 | 5,501,530,032.266 |
Jane P. Moncreiff | 44,248,881,171.347 | 4,488,796,914.856 |
Kiran M. Patel | 44,063,143,583.435 | 4,674,534,502.768 |
Kimberly S. Patmore | 44,124,853,956.622 | 4,612,824,129.581 |
J. Derek Penn | 44,116,668,865.038 | 4,621,009,221.165 |
1. | the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | the Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Linda Klingman, Managing Director and Head of Money Market Strategies for Schwab Asset Management, leads the portfolio management teams for taxable and tax-exempt Schwab Money Funds, and has overall responsibility for all aspects of the management of the fund. Prior to joining Schwab in 1990, she was a senior money market trader with AIM Management, Inc. for five years. She has managed money market funds since 1988. |
Michael Lin, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Lin has been a portfolio manager with Schwab Asset Management since 2006, and also worked in Schwab Asset Management’s fund administration group for nearly four years, where he focused on security pricing and valuation of the Schwab Funds. Prior to joining Schwab, he was a senior trader of the taxable money market funds at American Century Investments for three years. |
Jonathan Roman, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Roman has been a portfolio manager with Schwab Asset Management since 2010 and has held a number of positions at Schwab since beginning his tenure in 2005. In 2009, he joined the portfolio management group as a trader, and prior to that he worked in portfolio operations and analytics, providing trading support to the taxable money market desk. |
Jonathan Feske, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Feske previously was responsible for credit and investment research for global banks for the Schwab Taxable Bond Funds and Schwab Money Funds. Prior to joining Schwab in 2011, Mr. Feske was a high-yield bond analyst for more than two years at Miller Tabak Roberts Securities, a boutique corporate bond broker-dealer. He covered both U.S. and emerging market credits, focusing on distressed situations in various industrial sectors. Previously, Mr. Feske was employed in the securities industry as an equity trader for three years. |
Karim Menoufy, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Mr. Menoufy has been a portfolio manager with Schwab Asset Management since 2013, when he started as an associate portfolio manager and was promoted to portfolio manager in 2020. He held several positions prior to that supporting the taxable and tax-exempt money funds during his tenure at the firm. Before joining Schwab in 2007, he spent several years as a mortgage specialist at JPMorgan Chase and an equity plan administrator for Delegata Corporation. |
Weighted Average Maturity2 | 15 Days |
1 | Maturity shown is the date the security matures, the date the interest rate on those securities is reset, or the date those securities can be redeemed through demand. |
2 | Money funds must maintain a dollar-weighted average maturity of no longer than 60 days and cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months). |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Schwab Variable Share Price Money Fund | |
Ultra Shares | |
Ticker Symbol | SVUXX |
Minimum Initial Investment2 | $1,000,000 |
Seven-Day Yield (with waivers)3 | 1.38% |
Seven-Day Yield (without waivers)3 | 1.36% |
Seven-Day Effective Yield (with waivers)3 | 1.39% |
1 | Due to a special distribution of ordinary income, the fund’s stated yields temporarily increased in December 2021. |
2 | Please see prospectus for further detail and eligibility requirements. |
3 | The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund’s yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund. For additional details, see financial note 5. |
EXPENSE RATIO (ANNUALIZED) 1,2 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/223 | |
Schwab Variable Share Price Money Fund | ||||
Ultra Shares | ||||
Actual Return | 0.17% | $1,000.00 | $1,001.40 | $0.84 |
Hypothetical 5% Return | 0.17% | $1,000.00 | $1,023.95 | $0.85 |
1 | Based on the most recent six-month expense ratio. |
2 | Expense ratio (annualized) reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
3 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
Ultra Shares | 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.0003 | $1.0003 | $1.0004 | $1.0002 | $1.0001 | $1.0003 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.0018 | 0.0003 | 0.0057 | 0.0217 | 0.0201 | 0.0103 |
Net realized and unrealized gains (losses) | (0.0004) | (0.0000) 2 | (0.0008) | 0.0005 | (0.0009) | (0.0006) |
Total from investment operations | 0.0014 | 0.0003 | 0.0049 | 0.0222 | 0.0192 | 0.0097 |
Less distributions: | ||||||
Distributions from net investment income | (0.0017) | (0.0003) | (0.0050) | (0.0220) | (0.0191) | (0.0099) |
Distributions from net realized gains | — | — | — | (0.0000) 2 | — | — |
Total distributions | (0.0017) | (0.0003) | (0.0050) | (0.0220) | (0.0191) | (0.0099) |
Net asset value at end of period | $1.0000 | $1.0003 | $1.0003 | $1.0004 | $1.0002 | $1.0001 |
Total return | 0.14% 3 | 0.03% | 0.49% | 2.24% | 1.94% | 0.97% |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.17% 4,5 | 0.11% 5 | 0.18% 5 | 0.19% | 0.19% | 0.20% 6 |
Gross operating expenses | 0.21% 4 | 0.21% | 0.31% | 0.34% | 0.35% | 0.40% |
Net investment income (loss) | 0.36% 4 | 0.03% | 0.57% | 2.17% | 2.01% | 1.03% |
Net assets, end of period (x 1,000,000) | $2,960 | $2,693 | $3,414 | $5,388 | $3,796 | $1,327 |
* | Unaudited. |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per share amount was less than $0.00005. |
3 | Not annualized. |
4 | Annualized. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. (See financial note 5) |
6 | Effective October 3, 2017, the contractual expense limitation changed. The ratio presented for period ended December 31, 2017 is a blended ratio. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CERTIFICATES OF DEPOSIT 20.4% OF NET ASSETS | ||||||
BANK OF MONTREAL (CHICAGO BRANCH) (SOFR + 0.18%) | (a) | 1.69% | 07/01/22 | 08/23/22 | 2,000,000 | 1,999,706 |
BANK OF NOVA SCOTIA (HOUSTON BRANCH) | ||||||
(SOFR + 0.17%) | (a) | 1.68% | 07/01/22 | 09/14/22 | 11,000,000 | 10,996,605 |
(SOFR + 0.20%) | (a) | 1.71% | 07/01/22 | 11/22/22 | 4,000,000 | 3,996,654 |
(SOFR + 0.55%) | (a) | 2.06% | 07/01/22 | 12/23/22 | 9,000,000 | 9,003,434 |
(SOFR + 0.40%) | (a) | 1.91% | 07/01/22 | 01/09/23 | 8,500,000 | 8,495,965 |
(SOFR + 0.50%) | (a) | 2.01% | 07/01/22 | 03/13/23 | 3,000,000 | 2,998,574 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 03/16/23 | 4,800,000 | 4,797,793 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 03/24/23 | 23,000,000 | 22,985,950 |
BARCLAYS BANK PLC (NEW YORK BRANCH) | ||||||
0.35% | 07/01/22 | 20,000,000 | 19,999,307 | |||
(SOFR + 0.45%) | (a) | 1.97% | 07/01/22 | 10/07/22 | 2,000,000 | 2,000,419 |
(SOFR + 0.40%) | (a) | 1.92% | 07/01/22 | 10/13/22 | 22,000,000 | 22,000,314 |
(SOFR + 0.44%) | (a) | 1.96% | 07/01/22 | 12/01/22 | 6,000,000 | 5,999,719 |
CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH) | ||||||
0.35% | 11/04/22 | 10,000,000 | 9,929,556 | |||
2.92% | 12/20/22 | 12,000,000 | 12,002,558 | |||
CITIBANK NA | ||||||
2.30% | 09/27/22 | 18,000,000 | 17,998,918 | |||
3.02% | 01/03/23 | 5,000,000 | 4,997,424 | |||
COOPERATIEVE RABOBANK UA (LONDON BRANCH) | 0.28% | 08/16/22 | 5,000,000 | 4,990,601 | ||
COOPERATIEVE RABOBANK UA (NEW YORK BRANCH) (SOFR + 0.16%) | (a) | 1.67% | 07/01/22 | 08/22/22 | 6,000,000 | 5,999,142 |
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW YORK BRANCH) | 1.60% | 09/01/22 | 3,200,000 | 3,198,127 | ||
CREDIT AGRICOLE SA (LONDON BRANCH) | ||||||
1.45% | 08/12/22 | 800,000 | 799,616 | |||
1.56% | 08/26/22 | 3,000,000 | 2,998,064 | |||
1.60% | 08/26/22 | 2,500,000 | 2,498,547 | |||
1.62% | 08/31/22 | 900,000 | 899,398 | |||
2.18% | 09/21/22 | 12,000,000 | 11,999,921 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK (NEW YORK BRANCH) | 1.56% | 07/07/22 | 25,000,000 | 24,999,900 | ||
LANDESBANK BADEN WUERTTEMBERG (NEW YORK BRANCH) | ||||||
1.59% | 07/05/22 | 8,000,000 | 7,999,986 | |||
1.59% | 07/06/22 | 16,000,000 | 15,999,936 | |||
MITSUBISHI UFJ TRUST AND BANKING CORP (LONDON BRANCH) | 1.60% | 08/24/22 | 1,500,000 | 1,498,999 | ||
MITSUBISHI UFJ TRUST AND BANKING CORPORATION (NEW YORK BRANCH) | ||||||
1.45% | 08/24/22 | 1,000,000 | 999,263 | |||
(SOFR + 0.37%) | (a) | 1.88% | 07/01/22 | 10/25/22 | 9,000,000 | 8,999,506 |
MIZUHO BANK LTD (NEW YORK BRANCH) | ||||||
2.35% | 10/03/22 | 4,000,000 | 3,999,391 | |||
2.40% | 10/07/22 | 6,000,000 | 5,999,336 | |||
2.45% | 10/13/22 | 1,000,000 | 1,000,371 | |||
MUFG BANK LTD (LONDON BRANCH) | ||||||
1.03% | 07/01/22 | 3,000,000 | 2,999,853 | |||
1.04% | 07/08/22 | 6,000,000 | 5,997,647 | |||
1.79% | 09/09/22 | 2,000,000 | 1,998,517 | |||
MUFG BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.16%) | (a) | 1.68% | 07/01/22 | 07/26/22 | 15,000,000 | 14,999,642 |
0.34% | 08/23/22 | 500,000 | 498,860 | |||
(SOFR + 0.19%) | (a) | 1.71% | 07/01/22 | 08/24/22 | 12,000,000 | 11,999,783 |
(SOFR + 0.42%) | (a) | 1.94% | 07/01/22 | 11/09/22 | 3,000,000 | 3,000,032 |
0.39% | 11/14/22 | 13,000,000 | 12,895,942 | |||
(SOFR + 0.45%) | (a) | 1.97% | 07/01/22 | 11/30/22 | 3,000,000 | 3,000,012 |
NORDEA BANK ABP (NEW YORK BRANCH) | ||||||
0.32% | 07/05/22 | 20,000,000 | 19,996,533 | |||
(SOFR + 0.37%) | (a) | 1.89% | 07/01/22 | 10/28/22 | 6,000,000 | 6,000,379 |
(SOFR + 0.40%) | (a) | 1.91% | 07/01/22 | 11/23/22 | 11,200,000 | 11,197,961 |
OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.43%) | (a) | 1.94% | 07/01/22 | 12/06/22 | 1,000,000 | 999,755 |
(SOFR + 0.48%) | (a) | 2.00% | 07/01/22 | 02/27/23 | 11,900,000 | 11,895,426 |
ROYAL BANK OF CANADA (NEW YORK BRANCH) | ||||||
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 12/29/22 | 2,000,000 | 2,000,000 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 01/05/23 | 5,000,000 | 4,999,816 |
(SOFR + 0.50%) | (a) | 2.01% | 07/01/22 | 03/06/23 | 12,000,000 | 11,995,099 |
(SOFR + 0.50%) | (a) | 2.01% | 07/01/22 | 03/16/23 | 5,500,000 | 5,497,278 |
(SOFR + 0.48%) | (a) | 1.99% | 07/01/22 | 05/04/23 | 22,000,000 | 21,974,782 |
SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH) | ||||||
(SOFR + 0.18%) | (a) | 1.69% | 07/01/22 | 08/01/22 | 37,000,000 | 37,000,064 |
(SOFR + 0.44%) | (a) | 1.95% | 07/01/22 | 11/22/22 | 12,000,000 | 11,998,406 |
(SOFR + 0.45%) | (a) | 1.96% | 07/01/22 | 12/06/22 | 1,500,000 | 1,499,597 |
(SOFR + 0.51%) | (a) | 2.02% | 07/01/22 | 12/16/22 | 1,350,000 | 1,349,848 |
SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH) | 1.65% | 09/01/22 | 5,000,000 | 4,983,373 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH) (SOFR + 0.31%) | (a) | 1.82% | 07/01/22 | 08/10/22 | 8,000,000 | 8,000,851 |
SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH) | ||||||
0.20% | 07/15/22 | 3,000,000 | 2,998,308 | |||
0.27% | 08/12/22 | 8,000,000 | 7,986,097 | |||
0.37% | 09/02/22 | 36,000,000 | 35,899,217 | |||
TORONTO-DOMINION BANK (NEW YORK BRANCH) | ||||||
(SOFR + 0.16%) | (a) | 1.66% | 07/01/22 | 08/08/22 | 3,000,000 | 2,999,849 |
(EFFR + 0.17%) | (a) | 1.75% | 07/01/22 | 10/31/22 | 25,000,000 | 24,988,839 |
3.00% | 12/27/22 | 1,000,000 | 999,771 | |||
(SOFR + 0.42%) | (a) | 1.92% | 07/01/22 | 01/04/23 | 21,000,000 | 20,987,475 |
(SOFR + 0.41%) | (a) | 1.91% | 07/01/22 | 01/17/23 | 3,900,000 | 3,897,488 |
(SOFR + 0.48%) | (a) | 2.00% | 07/01/22 | 02/21/23 | 1,000,000 | 999,677 |
(SOFR + 0.48%) | (a) | 2.00% | 07/01/22 | 02/24/23 | 9,000,000 | 8,997,000 |
(SOFR + 0.49%) | (a) | 2.01% | 07/01/22 | 02/27/23 | 9,000,000 | 8,997,383 |
(SOFR + 0.50%) | (a) | 2.02% | 07/01/22 | 03/02/23 | 1,200,000 | 1,199,695 |
Total Certificates Of Deposit (Cost $605,234,629) | 604,813,255 | |||||
ASSET-BACKED COMMERCIAL PAPER 6.9% OF NET ASSETS | ||||||
BARTON CAPITAL SA | (b)(c) | 2.31% | 09/22/22 | 13,000,000 | 12,929,293 | |
BEDFORD ROW FUNDING CORP | ||||||
(EFFR + 0.12%) | (a)(b)(c) | 1.70% | 07/01/22 | 09/01/22 | 19,000,000 | 18,996,149 |
(SOFR + 0.42%) | (a)(b)(c) | 1.93% | 07/01/22 | 11/28/22 | 4,000,000 | 3,999,632 |
(SOFR + 0.54%) | (a)(b)(c) | 2.05% | 07/01/22 | 03/24/23 | 9,000,000 | 8,999,003 |
CAFCO LLC | (b)(c) | 1.00% | 07/01/22 | 22,000,000 | 21,999,053 | |
CHARIOT FUNDING LLC | ||||||
(b)(c) | 0.33% | 07/05/22 | 13,000,000 | 12,997,172 | ||
(SOFR + 0.40%) | (a)(b)(c) | 1.92% | 07/01/22 | 11/07/22 | 5,000,000 | 4,999,693 |
CHARTA LLC | (b)(c) | 1.00% | 07/13/22 | 10,000,000 | 9,994,237 | |
COLLATERALIZED COMMERCIAL PAPER V CO LLC | ||||||
(b) | 1.20% | 07/15/22 | 10,000,000 | 9,993,321 | ||
(b) | 1.33% | 09/01/22 | 2,000,000 | 1,992,944 | ||
(b) | 1.49% | 09/26/22 | 9,000,000 | 8,949,972 | ||
(SOFR + 0.49%) | (a)(b) | 2.00% | 07/01/22 | 10/05/22 | 5,000,000 | 5,001,932 |
(SOFR + 0.45%) | (a)(b) | 1.96% | 07/01/22 | 12/06/22 | 6,000,000 | 5,998,680 |
(SOFR + 0.44%) | (a)(b) | 1.95% | 07/01/22 | 12/12/22 | 5,000,000 | 4,998,172 |
(SOFR + 0.44%) | (a)(b) | 1.95% | 07/01/22 | 12/14/22 | 10,000,000 | 9,995,981 |
LMA AMERICAS LLC | (b)(c) | 2.52% | 10/04/22 | 3,000,000 | 2,979,688 | |
MANHATTAN ASSET FUNDING COMPANY LLC | ||||||
(SOFR + 0.18%) | (a)(b)(c) | 1.69% | 07/01/22 | 08/17/22 | 1,000,000 | 999,872 |
(SOFR + 0.43%) | (a)(b)(c) | 1.94% | 07/01/22 | 12/01/22 | 23,000,000 | 22,993,244 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
MATCHPOINT FINANCE PLC | (b)(c) | 1.00% | 07/01/22 | 2,000,000 | 1,999,914 | |
OLD LINE FUNDING LLC | ||||||
(b)(c) | 1.91% | 09/13/22 | 3,000,000 | 2,985,750 | ||
(b)(c) | 1.93% | 09/16/22 | 1,000,000 | 994,984 | ||
PRICOA SHORT TERM FUNDING LLC | (b)(c) | 1.05% | 08/05/22 | 2,000,000 | 1,996,482 | |
RIDGEFIELD FUNDING COMPANY LLC | ||||||
(b)(c) | 1.00% | 07/11/22 | 2,000,000 | 1,999,020 | ||
(b)(c) | 1.30% | 08/03/22 | 1,000,000 | 998,346 | ||
SHEFFIELD RECEIVABLES COMPANY LLC | ||||||
(b)(c) | 2.26% | 09/23/22 | 3,000,000 | 2,984,112 | ||
(b)(c) | 2.32% | 09/28/22 | 1,500,000 | 1,491,394 | ||
STARBIRD FUNDING CORP | (b)(c) | 3.05% | 12/19/22 | 4,000,000 | 3,941,711 | |
THUNDER BAY FUNDING LLC | (b)(c) | 1.96% | 09/13/22 | 5,000,000 | 4,977,917 | |
VERSAILLES COMMERCIAL PAPER LLC | ||||||
(b)(c) | 1.10% | 07/08/22 | 4,000,000 | 3,998,588 | ||
(b)(c) | 1.66% | 09/07/22 | 8,000,000 | 7,967,493 | ||
Total Asset-Backed Commercial Paper (Cost $205,218,314) | 205,153,749 | |||||
FINANCIAL COMPANY COMMERCIAL PAPER 16.5% OF NET ASSETS | ||||||
ANZ NEW ZEALAND INTL LTD (LONDON BRANCH) | (b)(c) | 1.66% | 09/14/22 | 12,000,000 | 11,947,712 | |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD | ||||||
(c) | 1.73% | 09/19/22 | 5,000,000 | 4,976,296 | ||
(c) | 2.35% | 10/11/22 | 1,000,000 | 993,414 | ||
BANK OF MONTREAL | ||||||
(SOFR + 0.17%) | (a)(c) | 1.68% | 07/01/22 | 08/17/22 | 4,000,000 | 3,999,593 |
(SOFR + 0.36%) | (a)(c) | 1.87% | 07/01/22 | 10/06/22 | 13,000,000 | 13,000,455 |
BARCLAYS BANK UK PLC | ||||||
(c) | 1.60% | 07/01/22 | 7,000,000 | 6,999,692 | ||
(c) | 1.60% | 07/05/22 | 8,000,000 | 7,998,239 | ||
(c) | 1.60% | 07/06/22 | 2,000,000 | 1,999,472 | ||
BAYERISCHE LANDESBANK (NEW YORK BRANCH) | ||||||
1.58% | 07/07/22 | 9,000,000 | 8,997,226 | |||
1.58% | 07/08/22 | 16,000,000 | 15,994,347 | |||
BNP PARIBAS SA (SOFR + 0.41%) | (a)(c) | 1.92% | 07/01/22 | 11/28/22 | 10,000,000 | 9,999,537 |
BOFA SECURITIES INC | ||||||
(c) | 2.21% | 09/21/22 | 4,000,000 | 3,979,342 | ||
(SOFR + 0.40%) | (a)(c) | 1.91% | 07/01/22 | 11/16/22 | 10,000,000 | 9,998,111 |
(SOFR + 0.46%) | (a)(c) | 1.97% | 07/01/22 | 02/10/23 | 10,000,000 | 9,995,341 |
(SOFR + 0.46%) | (a)(c) | 1.97% | 07/01/22 | 02/23/23 | 4,000,000 | 3,997,689 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
BPCE SA | ||||||
(c) | 1.45% | 08/04/22 | 7,000,000 | 6,988,328 | ||
(c) | 1.75% | 09/08/22 | 16,000,000 | 15,937,622 | ||
CITIGROUP GLOBAL MARKETS INC | ||||||
(c) | 1.34% | 09/01/22 | 5,000,000 | 4,981,625 | ||
(c) | 1.49% | 10/04/22 | 4,000,000 | 3,974,699 | ||
DBS BANK LTD | ||||||
(c) | 1.00% | 07/18/22 | 5,000,000 | 4,995,882 | ||
(c) | 1.00% | 07/19/22 | 3,000,000 | 2,997,381 | ||
(c) | 2.31% | 09/30/22 | 13,000,000 | 12,922,227 | ||
DNB BANK ASA | (c) | 0.34% | 07/06/22 | 12,500,000 | 12,496,779 | |
FEDERATION DES CAISSES DESJARDINS DU QUEBEC | (c) | 1.58% | 07/05/22 | 2,000,000 | 1,999,571 | |
JP MORGAN SECURITIES LLC (SOFR + 0.41%) | (a)(c) | 1.93% | 07/01/22 | 11/28/22 | 18,000,000 | 17,997,673 |
MACQUARIE BANK LTD | ||||||
(c) | 1.55% | 08/17/22 | 17,000,000 | 16,956,412 | ||
(SOFR + 0.30%) | (a)(c) | 1.82% | 07/01/22 | 08/22/22 | 1,000,000 | 999,959 |
(SOFR + 0.35%) | (a)(c) | 1.87% | 07/01/22 | 10/12/22 | 4,100,000 | 4,100,000 |
MITSUBISHI UFJ TRUST AND BANKING CORP (SINGAPORE BRANCH) | (c) | 1.56% | 08/19/22 | 14,400,000 | 14,362,300 | |
MITSUBISHI UFJ TRUST AND BANKING CORPORATION (NEW YORK BRANCH) | (c) | 1.03% | 07/20/22 | 11,000,000 | 10,989,788 | |
MIZUHO BANK LTD (SINGAPORE BRANCH) | ||||||
(c) | 1.51% | 08/03/22 | 2,000,000 | 1,996,655 | ||
(c) | 1.48% | 08/19/22 | 2,000,000 | 1,994,653 | ||
(c) | 1.51% | 08/23/22 | 25,000,000 | 24,926,162 | ||
(c) | 1.61% | 09/06/22 | 10,000,000 | 9,960,352 | ||
NATIONAL AUSTRALIA BANK LTD | ||||||
(SOFR + 0.38%) | (a)(c) | 1.89% | 07/01/22 | 11/04/22 | 4,000,000 | 3,999,690 |
(SOFR + 0.38%) | (a)(c) | 1.89% | 07/01/22 | 11/07/22 | 5,000,000 | 4,999,585 |
NATIONAL BANK OF CANADA (SOFR + 0.17%) | (a)(c) | 1.68% | 07/01/22 | 08/30/22 | 5,000,000 | 4,998,816 |
OVERSEA-CHINESE BANKING CORPORATION LTD (SOFR + 0.48%) | (a)(c) | 2.00% | 07/01/22 | 12/23/22 | 20,000,000 | 19,996,767 |
ROYAL BANK OF CANADA (SOFR + 0.18%) | (a)(c) | 1.69% | 07/01/22 | 08/23/22 | 13,000,000 | 12,998,051 |
SANTANDER UK PLC | ||||||
1.50% | 08/18/22 | 4,000,000 | 3,989,694 | |||
1.65% | 09/07/22 | 2,000,000 | 1,992,103 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
SKANDINAVISKA ENSKILDA BANKEN AB | ||||||
(c) | 0.33% | 07/05/22 | 4,000,000 | 3,999,139 | ||
(c) | 0.28% | 08/08/22 | 10,000,000 | 9,981,800 | ||
(c) | 0.28% | 08/12/22 | 2,000,000 | 1,995,908 | ||
(SOFR + 0.16%) | (a)(c) | 1.68% | 07/01/22 | 08/15/22 | 3,000,000 | 2,999,712 |
(SOFR + 0.36%) | (a)(c) | 1.88% | 07/01/22 | 10/26/22 | 21,000,000 | 20,996,366 |
(SOFR + 0.39%) | (a)(c) | 1.91% | 07/01/22 | 11/10/22 | 1,000,000 | 999,889 |
(SOFR + 0.40%) | (a)(c) | 1.92% | 07/01/22 | 11/17/22 | 5,000,000 | 4,999,611 |
(SOFR + 0.44%) | (a)(c) | 1.96% | 07/01/22 | 12/27/22 | 2,000,000 | 1,999,404 |
SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH) (SOFR + 0.41%) | (a)(c) | 1.93% | 07/01/22 | 11/23/22 | 3,000,000 | 2,999,878 |
SOCIETE GENERALE SA | ||||||
(c) | 1.65% | 08/31/22 | 10,000,000 | 9,963,386 | ||
(c) | 2.17% | 08/31/22 | 13,000,000 | 12,952,401 | ||
SUMITOMO MITSUI TRUST BANK LTD (SINGAPORE BRANCH) | ||||||
(c) | 1.27% | 08/04/22 | 3,000,000 | 2,995,100 | ||
(c) | 1.36% | 08/08/22 | 34,000,000 | 33,936,205 | ||
TORONTO-DOMINION BANK/THE | (c) | 0.48% | 07/25/22 | 3,000,000 | 2,996,598 | |
UBS AG (LONDON BRANCH) | ||||||
(SOFR + 0.46%) | (a)(c) | 1.98% | 07/01/22 | 12/16/22 | 13,000,000 | 12,997,601 |
(SOFR + 0.50%) | (a)(c) | 2.02% | 07/01/22 | 02/16/23 | 5,000,000 | 4,998,974 |
UNITED OVERSEAS BANK LTD (SOFR + 0.46%) | (a)(c) | 1.98% | 07/01/22 | 02/23/23 | 10,000,000 | 9,996,914 |
WESTPAC BANKING CORP | ||||||
(SOFR + 0.35%) | (a)(c) | 1.86% | 07/01/22 | 10/24/22 | 5,000,000 | 4,999,373 |
(SOFR + 0.48%) | (a)(c) | 1.99% | 07/01/22 | 01/03/23 | 2,000,000 | 1,999,566 |
Total Financial Company Commercial Paper (Cost $488,425,774) | 488,237,065 | |||||
NON-FINANCIAL COMPANY COMMERCIAL PAPER 1.5% OF NET ASSETS | ||||||
EQUINOR ASA | (c) | 1.56% | 07/01/22 | 6,000,000 | 5,999,744 | |
TOTALENERGIES CAPITAL CANADA LTD | ||||||
(b)(c) | 1.64% | 07/05/22 | 7,000,000 | 6,998,416 | ||
(b)(c) | 1.64% | 07/06/22 | 8,000,000 | 7,997,811 | ||
(b)(c) | 1.64% | 07/07/22 | 10,000,000 | 9,996,782 | ||
TOYOTA CREDIT CANADA INC | 1.10% | 07/06/22 | 5,000,000 | 4,998,629 | ||
TOYOTA FINANCE AUSTRALIA LTD | 1.41% | 08/19/22 | 5,000,000 | 4,987,465 | ||
UNITEDHEALTH GROUP INC | (c) | 1.56% | 07/01/22 | 3,000,000 | 2,999,868 | |
Total Non-Financial Company Commercial Paper (Cost $43,983,877) | 43,978,715 | |||||
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
NON-NEGOTIABLE TIME DEPOSITS 6.3% OF NET ASSETS | ||||||
ABN AMRO BANK NV | 1.58% | 07/07/22 | 12,000,000 | 12,000,000 | ||
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH) | 1.56% | 07/05/22 | 59,000,000 | 59,000,000 | ||
BANCO SANTANDER SA (NEW YORK BRANCH) | 1.58% | 07/06/22 | 25,000,000 | 25,000,000 | ||
CREDIT INDUSTRIEL ET COMMERCIAL | ||||||
1.60% | 07/05/22 | 10,000,000 | 10,000,000 | |||
1.60% | 07/06/22 | 7,000,000 | 7,000,000 | |||
ING BANK NV | ||||||
1.59% | 07/06/22 | 59,000,000 | 59,000,000 | |||
1.59% | 07/07/22 | 5,000,000 | 5,000,000 | |||
ROYAL BANK OF CANADA | 1.57% | 07/01/22 | 8,000,000 | 8,000,000 | ||
Total Non-Negotiable Time Deposits (Cost $185,000,000) | 185,000,000 | |||||
VARIABLE RATE DEMAND NOTES 1.6% OF NET ASSETS | ||||||
BRECKENRIDGE TERRACE, LLC | ||||||
HOUSING FACILITIES REVENUE NOTES SERIES 1999B (LOC: BANK OF AMERICA NA) | (a)(d) | 1.76% | 07/07/22 | 1,000,000 | 1,000,000 | |
CAROL ALLEN LIQUIDITY TRUST II | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2021 (LOC: COMERICA BANK) | (a)(d) | 1.67% | 07/07/22 | 1,000,000 | 1,000,000 | |
CELLMARK, INC | ||||||
TAXABLE NOTES SERIES 2018A (LOC: SWEDBANK AB) | (a)(d) | 1.64% | 07/07/22 | 2,000,000 | 2,000,000 | |
CONNECTICUT DEVELOPMENT AUTH | ||||||
RB (BRADLEY AIRPORT HOTEL) SERIES 2006B (LOC: TD BANK NA) | (a)(d) | 1.95% | 07/07/22 | 3,980,000 | 3,980,000 | |
COOK CNTY | ||||||
TAXABLE GO BONDS SERIES 2004D (LOC: BARCLAYS BANK PLC) | (a)(d) | 1.58% | 07/07/22 | 1,000,000 | 1,000,000 | |
HARTFORD HEALTHCARE CORP | ||||||
TAXABLE BONDS SERIES C (LOC: JPMORGAN CHASE BANK NA) | (a)(d) | 1.61% | 07/07/22 | 1,000,000 | 1,000,000 | |
ILLINOIS HOUSING DEVELOPMENT AUTH | ||||||
HOUSING BONDS SERIES 2017A2 (LIQ: FEDERAL HOME LOAN BANKS) | (a)(d) | 1.62% | 07/07/22 | 1,000,000 | 1,000,000 | |
LABCON NORTH AMERICA | ||||||
TAXABLE BONDS SERIES 2010 (LOC: BANK OF THE WEST) | (a)(d) | 1.60% | 07/07/22 | 1,000,000 | 1,000,000 | |
NEW VIRIDIAN EDGE | ||||||
M/F HOUSING RB (VIRIDIAN EDGE APTS) SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (a)(d) | 1.64% | 07/07/22 | 1,000,000 | 1,000,000 | |
NEW YORK CITY HOUSING DEVELOPMENT CORP | ||||||
M/F MORTGAGE RB (RELATED-UPPER EAST) SERIES 2003B (LOC: LANDESBANK BADEN-WUERTTEMBERG) | (a)(d) | 1.55% | 07/07/22 | 1,700,000 | 1,700,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
NUVEEN CREDIT STRATEGIES INCOME FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SOCIETE GENERALE SA) | (a)(c)(d) | 1.81% | 07/07/22 | 1,000,000 | 1,000,000 | |
NUVEEN FLOATING RATE INCOME FUND | ||||||
VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(c)(d) | 1.81% | 07/07/22 | 1,000,000 | 1,000,000 | |
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND | ||||||
VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: BARCLAYS BANK PLC) | (a)(c)(d) | 1.81% | 07/07/22 | 5,000,000 | 5,000,000 | |
SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT | ||||||
SUB WATER REFUNDING RB SERIES 2021A (LIQ: BANK OF AMERICA NA) | (a)(d) | 1.66% | 07/07/22 | 24,000,000 | 24,000,000 | |
TRIBOROUGH BRIDGE & TUNNEL AUTH | ||||||
GENERAL REFUNDING RB SERIES 2018E (LOC: BANK OF AMERICA NA) | (a)(d) | 1.63% | 07/07/22 | 740,000 | 740,000 | |
YAVAPAI CNTY IDA | ||||||
TAXABLE RB (DRAKE CEMENT) SERIES 2015 (LOC: BANK OF NOVA SCOTIA) | (a)(d) | 1.60% | 07/07/22 | 1,000,000 | 1,000,000 | |
Total Variable Rate Demand Notes (Cost $47,420,000) | 47,420,000 | |||||
OTHER INSTRUMENTS 0.2% OF NET ASSETS | ||||||
BANK OF AMERICA NA | ||||||
0.33% | 07/05/22 | 2,000,000 | 1,999,766 | |||
(SOFR + 0.40%) | (a) | 1.91% | 07/01/22 | 12/05/22 | 4,000,000 | 4,000,278 |
Total Other Instruments (Cost $6,000,000) | 6,000,044 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 35.0% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 6.6% | ||||||
BANCO SANTANDER SA | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 2,000,087 | 2,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $2,060,001, 2.00% - 2.98%, due 07/01/34 - 04/01/51) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 50,002,153 | 50,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $52,502,261, 7.12%, due 09/25/31) | ||||||
BOFA SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 60,002,583 | 60,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $61,800,001, 3.37% - 3.89%, due 11/01/30 - 06/01/34) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 20,000,861 | 20,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $20,600,011, 0.25% - 4.50%, due 03/15/24 - 06/01/52) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 50,002,153 | 50,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $51,500,000, 2.00% - 7.00%, due 08/01/27 - 07/15/57) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 10,000,431 | 10,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $10,200,480, 0.75% - 6.13%, due 11/15/27 - 11/20/51) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.56% | 07/01/22 | 4,000,173 | 4,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $4,160,180, 2.00% - 5.00%, due 09/01/25 - 03/01/52) | ||||||
196,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 23.1% | ||||||
BARCLAYS BANK PLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 9,514,299 | 9,513,889 | ||
(Collateralized by U.S. Treasury Securities valued at $9,704,625, 2.00%, due 11/15/26) | ||||||
BNP PARIBAS SA | ||||||
Issued 05/05/22, repurchase date 07/05/22 | 0.97% | 07/05/22 | 22,036,159 | 22,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $22,476,934, 1.00% - 7.13%, due 02/15/23 - 08/15/50) | ||||||
Issued 05/11/22, repurchase date 09/12/22 | 1.36% | 07/07/22 | 36,077,520 | 36,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $36,892,038, 0.13% - 7.25%, due 08/15/22 - 11/15/48) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 590,025,403 | 590,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $590,025,494, 0.13% - 2.50%, due 11/15/22 - 05/15/31) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.55% | 07/01/22 | 25,001,076 | 25,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $25,500,071, 0.38%, due 07/31/27) | ||||||
682,513,889 | ||||||
OTHER REPURCHASE AGREEMENTS** 5.3% | ||||||
BMO CAPITAL MARKETS CORP | ||||||
Issued 06/30/22, repurchase date 07/07/22 | 1.66% | 07/07/22 | 4,001,291 | 4,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $4,081,379, 0.75%, due 08/31/26) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
BNP PARIBAS SA | ||||||
Issued 06/29/22, repurchase date 07/06/22 | 1.66% | 07/06/22 | 10,003,323 | 10,000,095 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $11,503,713, 3.18% - 10.43%, due 08/25/33 - 03/25/42) | ||||||
Issued 06/29/22, repurchase date 07/06/22 | 1.72% | 07/06/22 | 15,004,926 | 14,999,909 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $17,256,223, 5.50% - 7.95%, due 04/20/26 - 12/31/00) | ||||||
Issued 05/10/22, repurchase date 08/08/22 | 1.45% | 08/04/22 | 5,014,277 | 4,996,968 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $5,770,851, 3.70% - 6.13%, due 04/01/51 - 12/31/00) | ||||||
Issued 05/31/22, repurchase date 08/29/22 | 1.70% | 08/04/22 | 10,024,478 | 9,993,803 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $11,549,089, 3.70% - 7.41%, due 03/15/38 - 12/31/00) | ||||||
BOFA SECURITIES INC | ||||||
Issued 06/17/22, repurchase date 08/01/22 | (a) | 1.92% | 07/01/22 | 08/01/22 | 15,033,800 | 14,997,805 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $17,250,001, 3.00%, due 10/25/58) (SOFR + 0.41%) | ||||||
Issued 06/24/22, repurchase date 10/24/22 | (a) | 2.01% | 07/01/22 | 09/28/22 | 8,033,188 | 7,990,360 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $8,640,000, 0.00%, due 12/31/00) (SOFR + 0.50%) | ||||||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | ||||||
Issued 06/27/22, repurchase date 07/01/22 | 1.63% | 07/01/22 | 3,000,543 | 3,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $3,313,023, 2.39% - 3.55%, due 09/29/25 - 04/15/37) | ||||||
Issued 06/29/22, repurchase date 07/06/22 | 1.63% | 07/06/22 | 17,005,493 | 17,000,105 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $18,384,922, 0.00% - 7.13%, due 10/06/22 - 02/01/46) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 06/28/22, repurchase date 07/05/22 | 1.70% | 07/05/22 | 14,004,565 | 13,999,937 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $16,101,628, 1.04% - 7.75%, due 06/15/25 - 07/01/51) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 04/29/22, repurchase date 10/26/22 | (a) | 1.89% | 07/01/22 | 09/28/22 | 28,081,921 | 27,859,602 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $32,277,084, 2.02% - 5.50%, due 01/15/28 - 01/25/61) (SOFR + 0.38%) | ||||||
Issued 06/13/22, repurchase date 12/12/22 | (a) | 1.93% | 07/01/22 | 09/28/22 | 4,004,231 | 3,981,392 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $4,603,701, 4.87% - 6.50%, due 10/01/25 - 05/12/49) (SOFR + 0.42%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 06/30/22, repurchase date 07/01/22 | 1.67% | 07/01/22 | 1,000,046 | 1,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $1,080,003, 0.00%, due 12/31/00) | ||||||
RBC CAPITAL MARKETS LLC | ||||||
Issued 06/30/22, repurchase date 07/07/22 | 1.67% | 07/07/22 | 8,002,598 | 8,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $8,402,841, 0.97% - 6.13%, due 08/09/23 - 06/01/77) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 05/03/22, repurchase date 10/28/22 | 1.80% | 10/03/22 | 10,051,378 | 9,975,069 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $11,602,624, 0.36% - 5.67%, due 03/20/25 - 09/20/45) | ||||||
Issued 06/08/22, repurchase date 12/05/22 | 2.17% | 10/03/22 | 6,028,511 | 5,986,293 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $6,974,865, 2.49% - 2.73%, due 11/15/29 - 10/15/30) | ||||||
157,781,338 | ||||||
Total Repurchase Agreements (Cost $1,036,513,889) | 1,036,295,227 | |||||
Total Investments in Securities (Cost $2,617,796,483) | 2,616,898,055 |
* | Collateralized via U.S. Government Agency Securities or less frequently by higher rated U.S. Treasury Securities. |
** | Collateralized via common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations or less frequently by higher rated U.S. Government Agency Securities and/ or U.S. Treasury Securities. Securities without a stated maturity date, such as common stocks, ETFs, American depositary receipts and perpetual bonds, are represented by 12/31/00. |
(a) | Variable rate security; rate shown is effective rate at period end. |
(b) | Credit-enhanced or liquidity-enhanced. |
(c) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $656,479,063 or 22.2% of net assets. |
(d) | VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. |
AUTH — | Authority |
CNTY — | County |
EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for overnight funds. |
FICC — | Fixed Income Clearing Corp |
GO — | General obligation |
IDA — | Industrial development agency/authority |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
M/F — | Multi-family |
RB — | Revenue bond |
SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate Demand Obligations with certain characteristics. |
SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by U.S. Treasury securities. |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at value - unaffiliated (cost $1,581,282,594) | $1,580,602,828 | |
Repurchase agreements, at value - unaffiliated (cost $1,036,513,889) | 1,036,295,227 | |
Receivables: | ||
Fund shares sold | 371,940,186 | |
Interest | 1,359,648 | |
Prepaid expenses | + | 62,304 |
Total assets | 2,990,260,193 | |
Liabilities | ||
Payables: | ||
Investments bought | 25,003,646 | |
Fund shares redeemed | 3,734,291 | |
Distributions to shareholders | 1,411,733 | |
Investment adviser and administrator fees | 366,290 | |
Accrued expenses | + | 156,846 |
Total liabilities | 30,672,806 | |
Net assets | $2,959,587,387 | |
Net Assets by Source | ||
Capital received from investors | $2,960,682,979 | |
Total distributable loss | + | (1,095,592) |
Net assets | $2,959,587,387 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Ultra Shares | $2,959,587,387 | 2,959,659,407 | $1.0000 | ||
For the period January 1, 2022 through June 30, 2022; unaudited | ||
Investment Income | ||
Interest received from securities - unaffiliated | $6,345,765 | |
Expenses | ||
Investment adviser and administrator fees | 2,280,889 | |
Portfolio accounting fees | 69,395 | |
Custodian fees | 57,141 | |
Registration fees | 35,056 | |
Professional fees | 20,844 | |
Independent trustees’ fees | 14,425 | |
Shareholder reports | 4,968 | |
Transfer agent fees | 307 | |
Other expenses | + | 11,334 |
Total expenses | 2,494,359 | |
Expense reduction | – | 479,266 |
Net expenses | – | 2,015,093 |
Net investment income | 4,330,672 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 60 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | (831,729) |
Net realized and unrealized losses | (831,669) | |
Increase in net assets resulting from operations | $3,499,003 |
OPERATIONS | |||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
Net investment income | $4,330,672 | $926,704 | |
Net realized gains | 60 | — | |
Net change in unrealized appreciation (depreciation) | + | (831,729) | (147,987) |
Increase in net assets from operations | $3,499,003 | $778,717 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Ultra Shares | ($4,309,792) | ($926,619) |
TRANSACTIONS IN FUND SHARES | |||||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares Sold | |||||
Ultra Shares | 2,135,416,959 | $2,135,493,025 | 2,658,354,756 | $2,659,273,403 | |
Shares Reinvested | |||||
Ultra Shares | 2,363,533 | 2,363,575 | 754,181 | 754,443 | |
Shares Redeemed | |||||
Ultra Shares | + | (1,870,492,928) | (1,870,601,992) | (3,379,601,026) | (3,380,780,910) |
Net transactions in fund shares | 267,287,564 | $267,254,608 | (720,492,089) | ($720,753,064) | |
SHARES OUTSTANDING AND NET ASSETS | |||||
1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 2,692,371,843 | $2,693,143,568 | 3,412,863,932 | $3,414,044,534 | |
Total increase (decrease) | + | 267,287,564 | 266,443,819 | (720,492,089) | (720,900,966) |
End of period | 2,959,659,407 | $2,959,587,387 | 2,692,371,843 | $2,693,143,568 |
THE CHARLES SCHWAB FAMILY OF FUNDS (ORGANIZED OCTOBER 20, 1989) | |
Schwab Government Money Fund | Schwab Retirement Government Money Fund |
Schwab U.S. Treasury Money Fund | Schwab Municipal Money Fund |
Schwab Treasury Obligations Money Fund | Schwab AMT Tax-Free Money Fund |
Schwab Value Advantage Money Fund® | Schwab California Municipal Money Fund |
Schwab Variable Share Price Money Fund | Schwab New York Municipal Money Fund |
3. Credit and Liquidity Enhancements: |
5. Affiliates and Affiliated Transactions: |
Schwab Balanced Fund | 0.5% |
Schwab MarketTrack Balanced Portfolio | 0.6% |
Schwab MarketTrack Conservative Portfolio | 0.3% |
Schwab MarketTrack Growth Portfolio | 0.9% |
Schwab Monthly Income Fund - Enhanced Payout | 0.0%* |
Schwab Monthly Income Fund - Maximum Payout | 0.0%* |
Schwab Monthly Income Fund - Moderate Payout | 0.0%* |
Schwab Target 2010 Fund | 0.1% |
Schwab Target 2015 Fund | 0.1% |
Schwab Target 2020 Fund | 0.5% |
Schwab Target 2025 Fund | 0.4% |
Schwab Target 2030 Fund | 0.5% |
Schwab Target 2035 Fund | 0.2% |
Schwab Target 2040 Fund | 0.2% |
Schwab Target 2045 Fund | 0.0%* |
Schwab Target 2050 Fund | 0.0%* |
Schwab Target 2010 Index Fund | 0.1% |
Schwab Target 2015 Index Fund | 0.1% |
Schwab Target 2020 Index Fund | 0.3% |
Schwab Target 2025 Index Fund | 0.3% |
Schwab Target 2030 Index Fund | 0.3% |
Schwab Target 2035 Index Fund | 0.1% |
Schwab Target 2040 Index Fund | 0.1% |
Schwab Target 2045 Index Fund | 0.0%* |
Schwab Target 2050 Index Fund | 0.0%* |
Schwab Target 2055 Index Fund | 0.0%* |
Schwab VIT Balanced Portfolio | 0.1% |
Schwab VIT Balanced with Growth Portfolio | 0.2% |
Schwab VIT Growth Portfolio | 0.2% |
* | Less than 0.05% |
6. Board of Trustees: |
TAX COST | GROSS UNREALIZED APPRECIATION | GROSS UNREALIZED DEPRECIATION | NET UNREALIZED APPRECIATION (DEPRECIATION) |
$2,617,796,483 | $11,315 | ($909,743) | ($898,428) |
PRIOR FISCAL YEAR END DISTRIBUTIONS |
ORDINARY INCOME |
$926,619 |
9. Subsequent Events: |
Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
Walter W. Bettinger II | 43,824,068,459.769 | 4,913,609,626.434 |
Richard A. Wurster | 44,130,639,925.330 | 4,607,038,160.873 |
Michael J. Beer | 44,133,522,767.969 | 4,604,155,318.234 |
Robert W. Burns | 44,113,097,923.941 | 4,624,580,162.262 |
Nancy F. Heller | 44,253,687,915.276 | 4,483,990,170.927 |
David L. Mahoney | 43,236,148,053.937 | 5,501,530,032.266 |
Jane P. Moncreiff | 44,248,881,171.347 | 4,488,796,914.856 |
Kiran M. Patel | 44,063,143,583.435 | 4,674,534,502.768 |
Kimberly S. Patmore | 44,124,853,956.622 | 4,612,824,129.581 |
J. Derek Penn | 44,116,668,865.038 | 4,621,009,221.165 |
1. | the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | the Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Item 2: Code of Ethics.
Not applicable to this semi-annual report.
Item 3: Audit Committee Financial Expert.
Not applicable to this semi-annual report.
Item 4: Principal Accountant Fees and Services.
Not applicable to this semi-annual report.
Item 5: Audit Committee of Listed Registrants.
Not applicable to this semi-annual report.
Item 6: Schedule of Investments.
The schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form.
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.
Not applicable.
Item 11: Controls and Procedures.
(a) | Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Jonathan de St. Paer and Registrant’s Chief Financial Officer, Mark Fischer, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above. |
(b) | During the period covered by this report, there have been no changes in Registrant’s internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, 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 semi-annual report. |
(2) |
(3) | Not applicable. |
(b) |
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) The Charles Schwab Family of Funds
By: | /s/ Jonathan de St. Paer | |
Jonathan de St. Paer Chief Executive Officer | ||
Date: | August 16, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Jonathan de St. Paer | |
Jonathan de St. Paer Chief Executive Officer | ||
Date: | August 16, 2022 |
By: | /s/ Mark Fischer | |
Mark Fischer Chief Financial Officer | ||
Date: | August 16, 2022 |