UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-05954
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)
Omar Aguilar
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: December 31, 2023
Item 1: Report(s) to Stockholders.
Money Fund
Money Fund
No Action Required – Notice Regarding Shareholder Report Delivery |
Beginning on July 24, 2024, fund shareholder reports will be streamlined to highlight key information deemed important for investors to assess and monitor their fund investments. Other information, including financial statements, will not appear in the streamlined shareholder reports but will available online and delivered free of charge upon request. |
• If you already receive the full shareholder reports, you will receive the streamlined shareholder reports in the same way that you currently receive the full shareholder reports (either in paper or electronically). |
• If you currently receive a notification when a shareholder report is available on a fund’s website, beginning July 24, 2024, you will begin to receive the streamlined shareholder report (in paper). |
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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. She has managed money market funds since 1988. |
Kevin Shaughnessy, CFA, Senior Portfolio Manager for Schwab Asset Management, 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 for Schwab Asset Management, 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 | 31 Days |
Schwab California Municipal Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWKXX | SCAXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 3.17% | 3.32% |
Seven-Day Yield (without waivers)2 | 3.16% | 3.31% |
Seven-Day Effective Yield (with waivers)2 | 3.22% | 3.37% |
Weighted Average Maturity2 | 24 Days |
Schwab New York Municipal Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWYXX | SNYXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 3.69% | 3.84% |
Seven-Day Yield (without waivers)2 | 3.65% | 3.80% |
Seven-Day Effective Yield (with waivers)2 | 3.76% | 3.92% |
EXPENSE RATIO (ANNUALIZED)1 | BEGINNING ACCOUNT VALUE AT 7/1/23 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 12/31/23 | EXPENSES PAID DURING PERIOD 7/1/23-12/31/232 | |
Schwab California Municipal Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,013.00 | $1.73 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,013.80 | $0.96 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
Schwab New York Municipal Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,016.30 | $1.73 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,017.00 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 days of the period, and divided by 365 days of the fiscal year. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 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 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 0.01 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | |
Total distributions | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 2.58 % | 0.87 % | 0.03 % | 0.32 % | 1.10 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.30 %3,4 | 0.10 %4 | 0.28 %4,5 | 0.35 % | |
Gross operating expenses | 0.35 % | 0.35 %3 | 0.35 % | 0.46 % | 0.49 % | |
Net investment income (loss) | 2.53 % | 0.92 % | 0.01 % | 0.37 % | 1.08 % | |
Net assets, end of period (x 1,000,000) | $2,483 | $2,604 | $2,224 | $3,405 | $6,168 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
5 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 9/24/201– 12/31/20 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.03 | 0.01 | 0.00 3 | 0.00 3 | ||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | ||
Total from investment operations | 0.03 | 0.01 | 0.00 3 | 0.00 3 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Distributions from net realized gains | (0.00 )3 | (0.00 )3 | (0.00 )3 | (0.00 )3 | ||
Total distributions | (0.03 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Total return | 2.73 % | 0.99 % | 0.03 % | 0.01 %4 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.19 %5,6 | 0.09 %6 | 0.16 %6,7 | ||
Gross operating expenses | 0.20 % | 0.20 %5 | 0.20 % | 0.20 %7 | ||
Net investment income (loss) | 2.68 % | 1.45 % | 0.01 % | 0.01 %7 | ||
Net assets, end of period (x 1,000,000) | $5,562 | $5,456 | $778 | $375 |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Ratio includes less than 0.005% of non-routine proxy expenses. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
7 | Annualized. |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 100.1% OF NET ASSETS | ||||||
CALIFORNIA 100.1% | ||||||
ABAG Finance Auth | ||||||
M/F Housing RB (Crossing Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 57,650,000 | 57,650,000 | |
M/F Housing RB (La Terrazza Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.50% | 01/05/24 | 10,175,000 | 10,175,000 | |
M/F Housing RB (Lakeside Village) Series 2011A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 2.47% | 01/05/24 | 8,550,000 | 8,550,000 | |
RB (Sharp HealthCare) Series 2009C (LOC: TD BANK NA) | (a) | 2.25% | 01/05/24 | 33,000,000 | 33,000,000 | |
RB (Sharp HealthCare) Series 2009D (LOC: TD BANK NA) | (a) | 2.25% | 01/05/24 | 19,440,000 | 19,440,000 | |
Alameda Cnty IDA | ||||||
RB (Golden West Paper Converting Corp) Series 2008A (LOC: BANK OF MONTREAL) | (a) | 3.87% | 01/05/24 | 4,600,000 | 4,600,000 | |
RB (Segale Brothers Wood Products) Series 2002 (LOC: BANK OF MONTREAL) | (a) | 3.85% | 01/05/24 | 440,000 | 440,000 | |
Anaheim Housing Auth | ||||||
M/F Housing Refunding RB (Sage Park) Series 1998A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 5,500,000 | 5,500,000 | |
Antelope Valley CCD | ||||||
GO Bonds Series B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.92% | 01/05/24 | 5,000,000 | 5,000,000 | |
Bay Area Toll Auth | ||||||
Toll Bridge RB Series 2007A2 (LOC: MUFG BANK LTD) | (a) | 2.80% | 01/05/24 | 37,820,000 | 37,820,000 | |
Toll Bridge RB Series 2007B2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 2.60% | 01/05/24 | 47,100,000 | 47,100,000 | |
Toll Bridge RB Series 2014F1 (ESCROW) | 5.00% | 04/01/24 | 10,000,000 | 10,042,559 | ||
Toll Bridge RB Series 2019B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 2.80% | 01/05/24 | 48,455,000 | 48,455,000 | |
Toll Bridge RB Series 2019D (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 2.80% | 01/05/24 | 57,120,000 | 57,120,000 | |
Toll Bridge RB Series 2023A (LOC: BARCLAYS BANK PLC) | (a) | 3.90% | 01/02/24 | 32,765,000 | 32,765,000 | |
Toll Bridge RB Series 2023B (LOC: BARCLAYS BANK PLC) | (a) | 3.97% | 01/02/24 | 7,300,000 | 7,300,000 | |
Toll Bridge RB Series 2023F2 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 4,440,000 | 4,440,000 |
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) | 2.25% | 01/05/24 | 11,065,000 | 11,065,000 | |
GO Bonds | 5.00% | 05/01/24 | 1,230,000 | 1,237,210 | ||
GO Bonds (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 9,800,000 | 9,800,000 | |
GO Bonds (LIQ: CITIBANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 4,950,000 | 4,950,000 | |
GO Bonds (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 17,300,000 | 17,300,000 | |
GO Bonds (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.87% | 01/05/24 | 2,625,000 | 2,625,000 | |
GO Bonds (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
GO Bonds (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,375,000 | 2,375,000 | |
GO Bonds Series 2003A1 (LOC: BARCLAYS BANK PLC) | (a) | 3.70% | 01/02/24 | 690,000 | 690,000 | |
GO Bonds Series 2003C1 (LOC: TD BANK NA) | (a) | 2.25% | 01/05/24 | 41,010,000 | 41,010,000 | |
GO Bonds Series 2004A3 (LOC: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.70% | 01/02/24 | 4,065,000 | 4,065,000 | |
GO Bonds Series 2004A9 (LOC: STATE STREET BANK AND TRUST COMPANY) | (a) | 2.30% | 01/05/24 | 6,235,000 | 6,235,000 | |
GO Bonds Series 2005A21 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 2.30% | 01/05/24 | 81,205,000 | 81,205,000 | |
GO Bonds Series 2005B1 (LOC: WELLS FARGO BANK NA) | (a) | 2.50% | 01/05/24 | 30,500,000 | 30,500,000 | |
GO Bonds Series 2005B5 (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.70% | 01/02/24 | 77,840,000 | 77,840,000 | |
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 3.30% | 02/06/24 | 21,250,000 | 21,250,000 | ||
GO CP Series A1 (LOC: WELLS FARGO BANK NA) | 3.25% | 02/07/24 | 15,935,000 | 15,935,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 3.25% | 01/11/24 | 22,580,000 | 22,580,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 3.30% | 01/23/24 | 41,495,000 | 41,495,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 3.23% | 02/01/24 | 19,500,000 | 19,500,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 3.27% | 02/06/24 | 14,500,000 | 14,500,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 3.32% | 02/13/24 | 50,000,000 | 50,000,000 | ||
GO CP Series A2 (LOC: ROYAL BANK OF CANADA) | 3.23% | 03/04/24 | 36,510,000 | 36,510,000 | ||
GO CP Series A3 (LOC: UBS AG) | 3.20% | 02/06/24 | 20,250,000 | 20,250,000 | ||
GO CP Series A3 (LOC: UBS AG) | 3.27% | 02/06/24 | 42,295,000 | 42,295,000 | ||
GO CP Series A4 (LOC: TD BANK NA) | 3.35% | 02/14/24 | 5,085,000 | 5,085,000 | ||
GO CP Series A5 (LOC: US BANK NATIONAL ASSOCIATION) | 3.20% | 03/05/24 | 15,470,000 | 15,470,000 | ||
GO CP Series A6 (LOC: BANK OF AMERICA NA) | 3.25% | 01/11/24 | 50,000,000 | 50,000,000 | ||
GO CP Series A6 (LOC: BANK OF AMERICA NA) | 3.20% | 02/01/24 | 3,160,000 | 3,160,000 | ||
GO CP Series A7 (LOC: STATE STREET BANK AND TRUST COMPANY) | 3.20% | 01/17/24 | 8,300,000 | 8,300,000 | ||
GO CP Series A8 (LOC: BANK OF MONTREAL) | 3.30% | 01/11/24 | 1,760,000 | 1,760,000 | ||
GO Refunding Bonds (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 5,000,000 | 5,000,000 | |
GO Refunding Bonds (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 1,705,000 | 1,705,000 | |
California Community Choice Finance Auth | ||||||
Clean Energy RB Series 2023D (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
Clean Energy RB Series 2023F (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,750,000 | 3,750,000 | |
California Dept of Water Resources | ||||||
Water Revenue CP Series 1 (LIQ: BANK OF AMERICA NA) | 3.30% | 01/04/24 | 44,838,000 | 44,838,000 | ||
Water Revenue CP Series 1 (LIQ: BANK OF AMERICA NA) | 3.20% | 02/12/24 | 30,010,000 | 30,010,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.27% | 01/03/24 | 30,751,000 | 30,751,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.20% | 01/11/24 | 26,766,000 | 26,766,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.20% | 01/25/24 | 5,655,000 | 5,655,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.25% | 01/25/24 | 82,766,000 | 82,766,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.20% | 02/01/24 | 41,119,000 | 41,119,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.20% | 02/08/24 | 30,430,000 | 30,430,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.20% | 02/12/24 | 29,368,000 | 29,368,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.19% | 02/26/24 | 10,910,000 | 10,910,000 | ||
Water Revenue CP Series 4 (LIQ: JPMORGAN CHASE BANK NA) | 3.15% | 02/27/24 | 12,560,000 | 12,560,000 | ||
California Educational Facilities Auth | ||||||
CP Notes (Stanford Univ) | 3.40% | 01/22/24 | 14,700,000 | 14,700,000 | ||
CP Notes (Stanford Univ) | 3.38% | 01/24/24 | 7,400,000 | 7,400,000 | ||
CP Notes (Stanford Univ) Series S1 | 3.25% | 02/05/24 | 13,500,000 | 13,500,000 | ||
CP Notes (Stanford Univ) Series S3 | 3.40% | 04/05/24 | 38,000,000 | 38,000,000 | ||
CP Notes (Stanford Univ) Series S4 | 3.25% | 02/05/24 | 1,200,000 | 1,200,000 | ||
CP Notes (Stanford Univ) Series S4 | 3.20% | 05/07/24 | 32,800,000 | 32,800,000 | ||
RB (California Institute of Technology) Series 1994 | (a) | 2.70% | 01/01/24 | 13,800,000 | 13,800,000 | |
RB (California Institute of Technology) Series 2006A | (a) | 2.42% | 01/05/24 | 33,405,000 | 33,405,000 | |
RB (California Institute of Technology) Series 2006B | (a) | 2.65% | 01/05/24 | 37,255,000 | 37,255,000 | |
RB (Stanford Univ) Series U6 (LIQ: DEUTSCHE BANK AG) | (b)(c)(d) | 3.87% | 01/05/24 | 54,170,000 | 54,170,000 | |
California Enterprise Development Finance Auth | ||||||
IDRB (Gordon Brush) Series 2015 (LOC: WELLS FARGO BANK NA) | (a) | 3.97% | 01/05/24 | 8,000,000 | 8,000,000 | |
IDRB (J Harris Industrial Water Treatment) Series 2015 (LOC: CITY NATIONAL BANK) | (a)(b) | 3.97% | 01/05/24 | 4,910,000 | 4,910,000 | |
California Health Facilities Financing Auth | ||||||
Health Facility RB (Catholic Healthcare West) Series 2011B (LOC: BANK OF MONTREAL) | (a) | 3.00% | 01/05/24 | 27,390,000 | 27,390,000 | |
RB (Adventist Health) Series 2023B (LOC: BARCLAYS BANK PLC) | (a) | 3.90% | 01/02/24 | 5,000,000 | 5,000,000 | |
RB (Cedars-Sinai Health System) Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 16,000,000 | 16,000,000 | |
RB (Cedars-Sinai Health) Series 2021A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 4,000,000 | 4,000,000 | |
RB (Cedars-Sinai Health) Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 7,860,000 | 7,860,000 | |
RB (Cedars-Sinai Medical Ctr) Series 2021A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 30,685,000 | 30,685,000 | |
RB (Dignity Health) Series 2012A (GTY: MIZUHO BANK LTD) | (b)(c)(d) | 3.90% | 01/05/24 | 36,013,000 | 36,013,000 | |
RB (Kaiser Permanente) Series 2006E | 3.85% | 02/07/24 | 5,000,000 | 5,000,000 | ||
RB (Kaiser Permanente) Series 2006E | 3.60% | 03/12/24 | 25,000,000 | 25,000,000 | ||
RB (Kaiser Permanente) Series 2017A2 (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,794,000 | 2,794,000 | |
RB (Kaiser Permanente) Series 2017A2 (LIQ: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.15%) | (b)(c)(d) | 4.02% | 01/04/24 | 05/01/24 | 2,190,000 | 2,190,000 |
RB (Scripps Health) Series 2012A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 4.18% | 01/02/24 | 122,770,000 | 122,770,000 | |
RB (Scripps Health) Series 2012B | (a) | 3.10% | 01/05/24 | 22,000,000 | 22,000,000 | |
RB (Scripps Health) Series 2012C | (a) | 2.50% | 01/05/24 | 37,560,000 | 37,560,000 | |
RB (Stanford Health) Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 8,690,000 | 8,690,000 | |
Refunding RB (Lucile Salter Packard Children’s Hospital) Series 2022A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,000,000 | 1,000,000 | |
Refunding RB (Stanford Hospital) Series 2008B1 | (a) | 2.60% | 01/05/24 | 35,000,000 | 35,000,000 | |
Refunding RB (Stanford Hospital) Series 2008B2-1 | 3.35% | 02/06/24 | 17,500,000 | 17,500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Refunding RB (Stanford Hospital) Series 2008B2-2 | 3.20% | 04/01/24 | 42,050,000 | 42,050,000 | ||
Refunding RB (Sutter Health) Series 2017A (LOC: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 1,000,000 | 1,000,000 | |
California Infrastructure & Economic Development Bank | ||||||
Bay Area Toll Bridges RB Series 2003A (ESCROW) (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 11,250,000 | 11,250,000 | |
IDRB (Kruger & Sons) Series 2002 (LOC: BANK OF MONTREAL) | (a) | 3.20% | 01/05/24 | 960,000 | 960,000 | |
RB (Brightline Passenger Rail) Series 2020A (ESCROW) | 3.65% | 01/31/24 | 41,585,000 | 41,375,221 | ||
RB (St Margaret’s Episcopal School) Series 2008 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.30% | 01/05/24 | 8,165,000 | 8,165,000 | |
California Municipal Finance Auth | ||||||
Recovery Zone Facility RB (Chevron) Series 2010A | (a) | 3.70% | 01/02/24 | 88,080,000 | 88,080,000 | |
Recovery Zone Facility RB (Chevron) Series 2010B | (a) | 3.75% | 01/02/24 | 19,540,000 | 19,540,000 | |
Recovery Zone Facility RB (Chevron) Series 2010C | (a) | 3.70% | 01/02/24 | 29,380,000 | 29,380,000 | |
Refunding RB (ExxonMobil) Series 2007 | (a) | 3.73% | 01/02/24 | 29,965,000 | 29,965,000 | |
California Municipal Finance Auth Environmental Impact | ||||||
Environmental Improvement RB (Aymium Williams) Series 2022 (ESCROW) | 4.00% | 06/26/24 | 25,000,000 | 25,000,000 | ||
California Pollution Control Financing Auth | ||||||
RB (Hilmar Cheese) Series 2010 (LOC: BANK OF MONTREAL) | (a) | 3.50% | 01/05/24 | 9,695,000 | 9,695,000 | |
Solid Waste Disposal RB (Ag Resources III) Series 2004 (LOC: COBANK ACB) | (a) | 3.00% | 01/05/24 | 5,900,000 | 5,900,000 | |
Solid Waste Disposal RB (Bidart Dairy) Series 2002 (LOC: COBANK ACB) | (a) | 3.50% | 01/05/24 | 6,000,000 | 6,000,000 | |
Solid Waste Disposal RB (Desert Properties) Series 2006B (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.00% | 01/05/24 | 2,860,000 | 2,860,000 | |
Solid Waste Disposal RB (EDCO Disposal) Series 2007A (LOC: WELLS FARGO BANK NA) | (a) | 3.00% | 01/05/24 | 5,665,000 | 5,665,000 | |
Solid Waste Disposal RB (George Borba & Son Dairy) Series 2003 (LOC: COBANK ACB) | (a) | 3.50% | 01/05/24 | 3,800,000 | 3,800,000 | |
Solid Waste Disposal RB (J&D Wilson & Sons Dairy) Series 2004 (LOC: COBANK ACB) | (a) | 3.50% | 01/05/24 | 2,500,000 | 2,500,000 | |
Solid Waste Disposal RB (JDS Ranch) Series 2003 (LOC: WELLS FARGO BANK NA) | (a) | 3.87% | 01/05/24 | 2,350,000 | 2,350,000 | |
Solid Waste Disposal RB (Recology) Series 2018A (LOC: WELLS FARGO BANK NA) | (a)(b) | 3.13% | 01/05/24 | 62,850,000 | 62,850,000 | |
Solid Waste Disposal RB (Sierra Pacific Ind) Series 2014 (LOC: WELLS FARGO BANK NA) | (a) | 2.75% | 01/05/24 | 30,000,000 | 30,000,000 | |
California Public Finance Auth | ||||||
RB (Hoag Memorial Hospital Presbyterian) Series 2022B (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.85% | 01/02/24 | 80,750,000 | 80,750,000 | |
RB (Hoag Memorial Hospital Presbyterian) Series 2022B1 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.85% | 01/02/24 | 90,000,000 | 90,000,000 | |
RB (Sharp Healthcare) Series 2017A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 12,000,000 | 12,000,000 | |
California Public Works Board | ||||||
Lease RB (California Air Resources Board) Series 2022D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 14,255,000 | 14,255,000 | |
Lease RB Series 2023D (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,300,000 | 2,300,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
California State Univ | ||||||
CP Series A (GTY: STATE STREET BANK AND TRUST COMPANY) (LOC: WELLS FARGO BANK NA) | 3.20% | 02/05/24 | 8,097,000 | 8,097,000 | ||
CP Series A (GTY: STATE STREET BANK AND TRUST COMPANY) (LOC: WELLS FARGO BANK NA) | 3.18% | 03/06/24 | 4,650,000 | 4,650,000 | ||
RB Series 2019A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 6,745,000 | 6,745,000 | |
RB Series 2023A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 8,075,000 | 8,075,000 | |
California Statewide Communities Development Auth | ||||||
M/F Housing RB (Avian Glen Apts) Series 2004CC (LOC: CITIBANK NA) | (a) | 3.95% | 01/05/24 | 3,390,000 | 3,390,000 | |
M/F Housing RB (Concord Green Apts) Series 1998S (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.93% | 01/05/24 | 8,700,000 | 8,700,000 | |
M/F Housing RB (Crossings West Apts) Series 2009E (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 15,000,000 | 15,000,000 | |
M/F Housing RB (David Ave Apt) Series 2007WW (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.47% | 01/05/24 | 5,300,000 | 5,300,000 | |
M/F Housing RB (Dublin Ranch Sr Apts) Series 2003OO (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 29,990,000 | 29,990,000 | |
M/F Housing RB (Dublin Ranch Sr Apts) Series 2006G (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 1,910,000 | 1,910,000 | |
M/F Housing RB (Fairway Family Apts) Series 2003PP (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 30,000,000 | 30,000,000 | |
M/F Housing RB (Fairway Family Apts) Series 2006H (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 5,200,000 | 5,200,000 | |
M/F Housing RB (Grande Garden Apts) Series 2004TT (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 1,725,000 | 1,725,000 | |
M/F Housing RB (Imperial Park Apts) Series 2007OO (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.47% | 01/05/24 | 10,620,000 | 10,620,000 | |
M/F Housing RB (Laurel Park Sr Apts) Series 2002H (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.86% | 01/05/24 | 5,500,000 | 5,500,000 | |
M/F Housing RB (Martin Luther Tower) Series 2005D (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 5,250,000 | 5,250,000 | |
M/F Housing RB (Oak Center Towers) Series 2005L (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 2,620,000 | 2,620,000 | |
M/F Housing RB (South Shore Apts) Series 2009M (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
M/F Housing RB (Stoneridge at Elk Grove) Series 2005Q (LOC: CITIBANK NA) | (a) | 2.72% | 01/05/24 | 4,940,000 | 4,940,000 | |
M/F Housing RB (Varenna Assisted Living Apts) Series 2006F (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.90% | 01/05/24 | 11,385,000 | 11,385,000 | |
M/F Housing RB (Wilshire Court Apts) Series 2003M (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 20,290,000 | 20,290,000 | |
M/F Housing Refunding RB (Crossings at Madera) Series 2005B (LOC: CITIBANK NA) | (a) | 2.72% | 01/05/24 | 2,070,000 | 2,070,000 | |
M/F Housing Refunding RB (Desert Palms Apts) Series 2010A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.95% | 01/05/24 | 7,000,000 | 7,000,000 | |
M/F Housing Refunding RB (Kelvin Court) Series 2012B (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.50% | 01/05/24 | 26,245,000 | 26,245,000 | |
M/F Housing Refunding RB (The Alexandria) Series 2013A (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.93% | 01/05/24 | 15,650,000 | 15,650,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
M/F Housing Refunding RB (Uptown Newport Apts) Series 2021A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.93% | 01/05/24 | 13,730,000 | 13,730,000 | |
Pollution Control Refunding RB (Chevron) Series 2002 | (a) | 3.70% | 01/02/24 | 3,135,000 | 3,135,000 | |
RB (Kaiser Permanente) Series 2004E | 3.45% | 01/04/24 | 25,540,000 | 25,540,000 | ||
RB (Kaiser Permanente) Series 2004E | 3.80% | 02/08/24 | 11,495,000 | 11,495,000 | ||
RB (Kaiser Permanente) Series 2004E | 3.80% | 02/13/24 | 19,200,000 | 19,200,000 | ||
RB (Kaiser Permanente) Series 2004E | 3.60% | 03/12/24 | 19,500,000 | 19,500,000 | ||
RB (Kaiser Permanente) Series 2004I | 3.80% | 02/06/24 | 10,645,000 | 10,645,000 | ||
RB (Kaiser Permanente) Series 2004I | 3.85% | 02/06/24 | 4,000,000 | 4,000,000 | ||
RB (Kaiser Permanente) Series 2004I | 3.80% | 02/14/24 | 13,800,000 | 13,800,000 | ||
RB (Kaiser Permanente) Series 2004I | 3.60% | 03/05/24 | 28,590,000 | 28,590,000 | ||
RB (Kaiser Permanente) Series 2004I | 3.55% | 03/12/24 | 24,800,000 | 24,800,000 | ||
RB (Kaiser Permanente) Series 2004K | 3.80% | 02/15/24 | 41,320,000 | 41,320,000 | ||
RB (Kaiser Permanente) Series 2004K | 3.90% | 03/06/24 | 23,400,000 | 23,400,000 | ||
RB (Kaiser Permanente) Series 2004K | 3.58% | 03/13/24 | 27,200,000 | 27,200,000 | ||
RB (Kaiser Permanente) Series 2006D | 3.85% | 02/07/24 | 17,500,000 | 17,500,000 | ||
RB (Kaiser Permanente) Series 2008B | 3.45% | 01/04/24 | 11,000,000 | 11,000,000 | ||
RB (Kaiser Permanente) Series 2008B | 3.85% | 02/08/24 | 6,000,000 | 6,000,000 | ||
RB (Kaiser Permanente) Series 2008B | 3.90% | 03/06/24 | 8,000,000 | 8,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 3.80% | 02/08/24 | 13,000,000 | 13,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 3.80% | 02/13/24 | 35,865,000 | 35,865,000 | ||
RB (Kaiser Permanente) Series 2008C | 3.80% | 02/15/24 | 38,000,000 | 38,000,000 | ||
RB (Kaiser Permanente) Series 2008C | 3.55% | 03/12/24 | 23,000,000 | 23,000,000 | ||
RB (Kaiser Permanente) Series 2009B1 | 3.82% | 02/08/24 | 13,000,000 | 13,000,000 | ||
RB (Kaiser Permanente) Series 2009B2 | 3.45% | 01/03/24 | 20,000,000 | 20,000,000 | ||
RB (Kaiser Permanente) Series 2009B4 | 3.55% | 03/14/24 | 24,000,000 | 24,000,000 | ||
RB (Kaiser Permanente) Series 2009B5 | 3.80% | 02/14/24 | 25,000,000 | 25,000,000 | ||
RB (Kaiser Permanente) Series 2009B6 | 3.80% | 02/06/24 | 27,250,000 | 27,250,000 | ||
Chino Valley USD | ||||||
GO Bonds Series 2020B (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,075,000 | 3,075,000 | |
Chula Vista | ||||||
M/F Housing Refunding RB (Teresina Apts) Series 2006A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.72% | 01/05/24 | 33,500,000 | 33,500,000 | |
Contra Costa Water District | ||||||
Extendible CP | 3.38% | 03/07/24 | 09/06/24 | 11,000,000 | 11,000,000 | |
East Bay Municipal Utility District | ||||||
Water CP Notes Series A1 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | 3.30% | 01/04/24 | 19,790,000 | 19,790,000 | ||
Water CP Notes Series A1 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | 3.20% | 02/05/24 | 19,000,000 | 19,000,000 | ||
Water CP Notes Series A1 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | 3.40% | 02/05/24 | 6,960,000 | 6,960,000 | ||
Water CP Notes Series A2 (LIQ: BANK OF AMERICA NA) | 3.40% | 02/05/24 | 2,600,000 | 2,600,000 | ||
Water CP Notes Series A2 (LIQ: BANK OF AMERICA NA) | 3.20% | 02/08/24 | 31,200,000 | 31,200,000 | ||
Water CP Notes Series A2 (LIQ: BANK OF AMERICA NA) | 3.20% | 02/21/24 | 16,000,000 | 16,000,000 | ||
Water CP Notes Series A2 (LIQ: BANK OF AMERICA NA) | 3.29% | 03/04/24 | 30,000,000 | 30,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Water CP Notes Series A2 (LIQ: BANK OF AMERICA NA) | 3.30% | 03/04/24 | 20,000,000 | 20,000,000 | ||
Water System Refunding RB Series 2022B2 | 5.00% | 06/01/24 | 620,000 | 624,373 | ||
Eastern Municipal Water District | ||||||
Water & Wastewater Refunding RB Series 2018A (LIQ: BANK OF AMERICA NA) | (a) | 3.85% | 01/02/24 | 43,730,000 | 43,730,000 | |
Water & Wastewater Refunding RB Series 2021B (SIFMA Municipal Swap Index + 0.10%) | (c) | 3.97% | 01/04/24 | 07/01/24 | 4,150,000 | 4,133,808 |
El Camino CCD | ||||||
GO Bonds Series 2018B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 8,000,000 | 8,000,000 | |
Elk Grove USD | ||||||
GO Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (b)(c)(d) | 3.90% | 01/02/24 | 12,430,000 | 12,430,000 | |
Golden Gate Bridge & Highway District | ||||||
CP Series A (LIQ: JPMORGAN CHASE BANK NA) | 3.35% | 02/14/24 | 30,500,000 | 30,500,000 | ||
Hayward | ||||||
M/F Housing RB (Lord Tennyson Apts) Series 2005A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 12,250,000 | 12,250,000 | |
Irvine Ranch Water District | ||||||
Consolidated Refunding Bonds Series 2008A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 2.51% | 01/05/24 | 1,000,000 | 1,000,000 | |
GO Refunding Bonds Series 2011A1 (SIFMA Municipal Swap Index + 0.05%) | (c) | 3.92% | 01/04/24 | 02/29/24 | 22,575,000 | 22,575,000 |
GO Refunding Bonds Series 2011A2 (SIFMA Municipal Swap Index + 0.05%) | (c) | 3.92% | 01/04/24 | 02/29/24 | 15,400,000 | 15,400,000 |
Long Beach Finance Auth | ||||||
Lease RB Series 2023 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,670,000 | 6,670,000 | |
Long Beach USD | ||||||
GO Bonds Series C (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,360,000 | 1,360,000 | |
Los Angeles | ||||||
TRAN 2023 | 5.00% | 06/27/24 | 127,545,000 | 128,538,888 | ||
Wastewater System CP Notes Series A1 (LOC: BARCLAYS BANK PLC) | 3.40% | 02/01/24 | 26,100,000 | 26,100,000 | ||
Wastewater System CP Notes Series A1 (LOC: BARCLAYS BANK PLC) | 3.43% | 02/08/24 | 30,000,000 | 30,000,000 | ||
Wastewater System CP Series A2 (LOC: TORONTO-DOMINION BANK/THE) | 3.37% | 03/14/24 | 75,000,000 | 75,000,000 | ||
Wastewater System Sub RB Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,335,000 | 3,335,000 | |
Los Angeles CCD | ||||||
GO Refunding Bonds Series 2015A (ESCROW) | 5.00% | 08/01/24 | 21,030,000 | 21,227,152 | ||
Los Angeles Cnty | ||||||
TRAN 2023-2024 | 5.00% | 06/28/24 | 93,580,000 | 94,371,570 | ||
Los Angeles Cnty Capital Asset Leasing Corp | ||||||
Lease Revenue CP Series A (LOC: BANK OF MONTREAL) | 3.30% | 01/17/24 | 14,000,000 | 14,000,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 3.28% | 01/04/24 | 4,000,000 | 4,000,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 3.50% | 01/04/24 | 21,000,000 | 21,000,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 3.20% | 01/16/24 | 44,750,000 | 44,750,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 3.20% | 01/17/24 | 4,630,000 | 4,630,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 3.35% | 01/25/24 | 24,000,000 | 24,000,000 | ||
Lease Revenue CP Series B (LOC: US BANK NATIONAL ASSOCIATION) | 3.25% | 02/07/24 | 13,750,000 | 13,750,000 | ||
Lease Revenue CP Series C (LOC: WELLS FARGO BANK NA) | 3.25% | 02/07/24 | 49,207,000 | 49,207,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Lease Revenue CP Series D (LOC: STATE STREET BANK AND TRUST COMPANY) | 3.20% | 01/16/24 | 28,065,000 | 28,065,000 | ||
Lease Revenue CP Series D (LOC: STATE STREET BANK AND TRUST COMPANY) | 3.27% | 01/18/24 | 30,000,000 | 30,000,000 | ||
Lease Revenue CP Series D (LOC: STATE STREET BANK AND TRUST COMPANY) | 3.25% | 02/07/24 | 5,250,000 | 5,250,000 | ||
Los Angeles Cnty Facilities Inc | ||||||
Lease RB (Vermont Corridor Cnty Administration Building) Series 2018A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,500,000 | 2,500,000 | |
Lease RB (Vermont Corridor Cnty Administration Building) Series 2018A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,670,000 | 1,670,000 | |
Los Angeles Cnty Metropolitan Transportation Auth | ||||||
2nd Sub Sales Tax Revenue CP Notes Series ATE (LOC: BANK OF AMERICA NA) | 3.27% | 02/06/24 | 14,167,000 | 14,167,000 | ||
2nd Sub Sales Tax Revenue CP Notes Series ATE (LOC: BANK OF AMERICA NA) | 3.25% | 02/07/24 | 13,267,000 | 13,267,000 | ||
2nd Sub Sales Tax Revenue CP Notes Series ATE (LOC: BANK OF AMERICA NA) | 3.32% | 03/04/24 | 16,666,000 | 16,666,000 | ||
Sr Sales Tax RB Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 1,400,000 | 1,400,000 | |
Los Angeles Cnty Public Works Financing Auth | ||||||
Lease RB Series 2021F (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,970,000 | 3,970,000 | |
Los Angeles Dept of Airports | ||||||
Airport Sub RB Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,860,000 | 2,860,000 | |
Sr RB Series 2020C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 5,300,000 | 5,300,000 | |
Sr RB Series 2020C & 2022H (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.20% | 01/02/24 | 9,440,000 | 9,440,000 | |
Sr RB Series 2022G (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 4,975,000 | 4,975,000 | |
Sr RB Series 2022G (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,250,000 | 2,250,000 | |
Sr RB Series 2022G (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,800,000 | 2,800,000 | |
Sr RB Series 2022G (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.93% | 01/05/24 | 1,500,000 | 1,500,000 | |
Sr RB Series 2022H (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 2,000,000 | 2,000,000 | |
Sub RB Series 2016B (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,200,000 | 2,200,000 | |
Sub RB Series 2016B (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 4,000,000 | 4,000,000 | |
Sub RB Series 2017A & 2018D (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 11,000,000 | 11,000,000 | |
Sub RB Series 2017A, 2018A, 2018C, 2019F (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 5,040,000 | 5,040,000 | |
Sub RB Series 2018A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,690,000 | 1,690,000 | |
Sub RB Series 2018A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 1,670,000 | 1,670,000 | |
Sub RB Series 2018D (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.92% | 01/05/24 | 5,510,000 | 5,510,000 | |
Sub RB Series 2018D (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 4,000,000 | 4,000,000 | |
Sub RB Series 2019E (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,000,000 | 3,000,000 | |
Sub RB Series 2019F (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 5,160,000 | 5,160,000 | |
Sub RB Series 2021D & Sr RB Series 2022G (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 6,450,000 | 6,450,000 | |
Sub RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 1,940,000 | 1,940,000 | |
Sub Refunding RB Series 2021A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.95% | 01/05/24 | 5,600,000 | 5,600,000 | |
Sub Refunding RB Series 2021A & 2016B (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 6,380,000 | 6,380,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Sub Revenue CP Series A1 (LOC: PNC BANK NA) | 3.25% | 01/17/24 | 12,629,000 | 12,629,000 | ||
Sub Revenue CP Series A1 (LOC: PNC BANK NA) | 3.20% | 02/01/24 | 13,154,000 | 13,154,000 | ||
Sub Revenue CP Series A2 (LOC: BARCLAYS BANK PLC) | 3.25% | 02/02/24 | 16,000,000 | 16,000,000 | ||
Sub Revenue CP Series A3 (LOC: BANK OF AMERICA NA) | 3.30% | 01/02/24 | 23,526,000 | 23,526,000 | ||
Sub Revenue CP Series A3 (LOC: BANK OF AMERICA NA) | 3.25% | 01/16/24 | 26,274,000 | 26,274,000 | ||
Sub Revenue CP Series B1 (LOC: PNC BANK NA) | 3.30% | 01/08/24 | 74,217,000 | 74,217,000 | ||
Sub Revenue CP Series B2 (LOC: BARCLAYS BANK PLC) | 3.30% | 02/02/24 | 59,180,000 | 59,180,000 | ||
Sub Revenue CP Series B3 (LOC: BANK OF AMERICA NA) | 3.35% | 01/02/24 | 19,495,000 | 19,495,000 | ||
Los Angeles Dept of Water & Power | ||||||
Power System RB Series 2001B (LIQ: BARCLAYS BANK PLC) | (a) | 2.80% | 01/05/24 | 10,000,000 | 10,000,000 | |
Power System RB Series 2001B3 (LIQ: BARCLAYS BANK PLC) | (a) | 3.77% | 01/02/24 | 600,000 | 600,000 | |
Power System RB Series 2002A (LIQ: BANK OF AMERICA NA) | (a) | 3.90% | 01/02/24 | 16,400,000 | 16,400,000 | |
Power System RB Series 2002A6 (LIQ: BANK OF AMERICA NA) | (a) | 3.90% | 01/02/24 | 3,100,000 | 3,100,000 | |
Power System RB Series 2002A7 (LIQ: BANK OF AMERICA NA) | (a) | 3.85% | 01/02/24 | 28,250,000 | 28,250,000 | |
Power System RB Series 2017A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 1,335,000 | 1,335,000 | |
Power System RB Series 2017C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 4,800,000 | 4,800,000 | |
Power System RB Series 2021A1 (LIQ: ROYAL BANK OF CANADA) | (a) | 3.77% | 01/02/24 | 89,020,000 | 89,020,000 | |
Power System RB Series 2021A2 (LIQ: ROYAL BANK OF CANADA) | (a) | 3.90% | 01/02/24 | 40,900,000 | 40,900,000 | |
Power System RB Series 2021A3 (LIQ: ROYAL BANK OF CANADA) | (a) | 3.82% | 01/02/24 | 10,150,000 | 10,150,000 | |
Power System RB Series 2021C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 8,800,000 | 8,800,000 | |
Power System RB Series 2021C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,500,000 | 3,500,000 | |
Power System RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 5,885,000 | 5,885,000 | |
Power System RB Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 1,830,000 | 1,830,000 | |
Power System RB Series 2023C1 (LIQ: TD BANK NA) | (a) | 3.90% | 01/02/24 | 90,950,000 | 90,950,000 | |
Power System RB Series 2023C2 (LIQ: TD BANK NA) | (a) | 3.85% | 01/02/24 | 36,800,000 | 36,800,000 | |
Power System RB Series 2023F2 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.15% | 01/02/24 | 13,090,000 | 13,090,000 | |
Water System RB Series 2001B2 (LIQ: UBS AG) | (a) | 3.64% | 01/02/24 | 14,000,000 | 14,000,000 | |
Water System RB Series 2001B3 (LIQ: UBS AG) | (a) | 2.80% | 01/05/24 | 18,950,000 | 18,950,000 | |
Water System RB Series 2001B4 (LIQ: BARCLAYS BANK PLC) | (a) | 3.90% | 01/02/24 | 100,000 | 100,000 | |
Water System RB Series 2018A (LIQ: UBS AG) | (b)(c)(d) | 3.89% | 01/05/24 | 5,965,000 | 5,965,000 | |
Water System RB Series 2021A1 (LIQ: TD BANK NA) | (a) | 3.85% | 01/02/24 | 43,725,000 | 43,725,000 | |
Water System RB Series 2021A2 (LIQ: TD BANK NA) | (a) | 3.85% | 01/02/24 | 87,320,000 | 87,320,000 | |
Water System RB Series 2022B (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 6,250,000 | 6,250,000 | |
Los Angeles Harbor Dept | ||||||
Refunding RB Series 2016C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,000,000 | 3,000,000 | |
Los Angeles IDA | ||||||
RB (AAA Packing & Shipping) Series 2000 (LOC: CITY NATIONAL BANK) | (a) | 3.62% | 01/05/24 | 1,725,000 | 1,725,000 | |
Los Angeles Municipal Improvement Corp | ||||||
Lease Revenue CP Series A2 (LOC: BANK OF AMERICA NA) | 3.25% | 03/06/24 | 15,797,000 | 15,797,000 | ||
Lease Revenue CP Series A3 (LOC: US BANK NATIONAL ASSOCIATION) | 3.25% | 03/06/24 | 18,860,000 | 18,860,000 | ||
Los Angeles USD | ||||||
GO Bonds Series 2020C | 5.00% | 07/01/24 | 17,410,000 | 17,555,281 | ||
GO Bonds Series 2020RYQ (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 19,570,000 | 19,570,000 | |
GO Bonds Series 2022QRR (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.87% | 01/05/24 | 4,925,000 | 4,925,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
GO Bonds Series 2023QRR (LIQ: CITIBANK NA) | (b)(c)(d) | 4.53% | 01/05/24 | 9,625,000 | 9,625,000 | |
GO Refunding Bonds Series 2014D | 5.00% | 07/01/24 | 5,000,000 | 5,039,840 | ||
GO Refunding Bonds Series 2019A | 5.00% | 07/01/24 | 2,500,000 | 2,520,533 | ||
Los Rios CCD | ||||||
GO Bonds Series 2008E | 3.00% | 08/01/24 | 5,000,000 | 4,979,982 | ||
Nuveen California AMT-Free Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 3 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b) | 3.91% | 01/05/24 | 13,000,000 | 13,000,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: ROYAL BANK OF CANADA) | (a)(b) | 3.90% | 01/05/24 | 30,000,000 | 30,000,000 | |
Variable Rate Demand Preferred Shares Series 6 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.90% | 01/05/24 | 10,000,000 | 10,000,000 | |
Nuveen California Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.96% | 01/05/24 | 61,600,000 | 61,600,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: ROYAL BANK OF CANADA) | (a)(b) | 3.94% | 01/05/24 | 11,000,000 | 11,000,000 | |
Variable Rate Demand Preferred Shares Series 6 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 3.96% | 01/05/24 | 24,200,000 | 24,200,000 | |
Variable Rate Demand Preferred Shares Series 7 (LOC: ROYAL BANK OF CANADA) | (a)(b) | 3.94% | 01/05/24 | 57,000,000 | 57,000,000 | |
Orange Cnty Water District | ||||||
CP Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.20% | 01/03/24 | 12,900,000 | 12,900,000 | ||
Revenue COP Series 2003A (LOC: BANK OF AMERICA NA) | (a) | 2.60% | 01/05/24 | 8,615,000 | 8,615,000 | |
Pasadena | ||||||
Refunding COP Series 2008A (LOC: BANK OF AMERICA NA) | (a) | 2.53% | 01/05/24 | 38,000,000 | 38,000,000 | |
Pasadena CCD | ||||||
GO Bonds Series 2023A1 (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 9,010,000 | 9,010,000 | |
Port of Oakland | ||||||
CP Notes D (LOC: BANK OF AMERICA NA) | 3.45% | 01/16/24 | 25,193,000 | 25,193,000 | ||
CP Series A (LOC: BANK OF AMERICA NA) | 3.45% | 01/16/24 | 7,342,000 | 7,342,000 | ||
Regents of the University of California | ||||||
Medical Center Pooled RB Series 2022P (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 15,140,000 | 15,140,000 | |
Riverside | ||||||
Electric Refunding RB Series 2008A (LOC: BARCLAYS BANK PLC) | (a) | 3.00% | 01/05/24 | 865,000 | 865,000 | |
Water Refunding RB Series 2011A (LOC: PNC BANK NA) | (a) | 3.82% | 01/02/24 | 18,050,000 | 18,050,000 | |
Riverside Cnty | ||||||
Teeter Plan Obligation Notes Series 2023A | 3.88% | 10/18/24 | 27,790,000 | 27,826,993 | ||
TRAN 2023 | 5.00% | 06/28/24 | 50,850,000 | 51,263,104 | ||
Sacramento Cnty Housing Auth | ||||||
M/F Housing RB (Logan Park Apts) Series 2007E (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 46,090,000 | 46,090,000 | |
Sacramento Housing Auth | ||||||
M/F Housing RB (Valencia Point Apts) Series 2006I (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.62% | 01/05/24 | 10,050,000 | 10,050,000 | |
Sacramento Municipal Utility District | ||||||
CP Series L1 (LOC: BARCLAYS BANK PLC) | 3.30% | 01/09/24 | 43,450,000 | 43,450,000 | ||
CP Series L1 (LOC: BARCLAYS BANK PLC) | 3.30% | 02/06/24 | 50,000,000 | 50,000,000 | ||
CP Series L1 (LOC: BARCLAYS BANK PLC) | 3.25% | 02/29/24 | 28,550,000 | 28,550,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Electric RB Series 2020H (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
Electric RB Series 2020H (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 2,700,000 | 2,700,000 | |
Sub Electric Refunding RB Series 2023C (LIQ: TD BANK NA) | (a) | 3.85% | 01/02/24 | 132,020,000 | 132,020,000 | |
Sacramento Water Revenue | ||||||
Water RB Series 2017 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,800,000 | 3,800,000 | |
San Bernardino Cnty Transportation Auth | ||||||
Sales Tax RB Series 2014A (LIQ: CITIBANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 8,300,000 | 8,300,000 | |
San Diego Cnty Regional Airport Auth | ||||||
Sub Airport RB Series 2019B & 2021B (LOC: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.93% | 01/05/24 | 7,235,000 | 7,235,000 | |
San Diego Cnty Regional Transportation Commission | ||||||
Sales Tax RB Series 2016A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.83% | 01/02/24 | 3,245,000 | 3,245,000 | |
Sub Sales Tax Revenue CP Series B (LOC: BANK OF AMERICA NA) | 3.45% | 04/30/24 | 38,117,000 | 38,117,000 | ||
San Diego Cnty Water Auth | ||||||
CP Series 10 (LIQ: BANK OF MONTREAL) | 3.37% | 02/15/24 | 10,000,000 | 10,000,000 | ||
CP Series 10 (LIQ: BANK OF MONTREAL) | 3.25% | 03/01/24 | 29,300,000 | 29,300,000 | ||
CP Series 10 (LIQ: BANK OF MONTREAL) | 3.30% | 03/04/24 | 22,000,000 | 22,000,000 | ||
CP Series 10 (LIQ: BANK OF MONTREAL) | 3.28% | 03/07/24 | 29,100,000 | 29,100,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 3.30% | 01/17/24 | 25,000,000 | 25,000,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 3.20% | 02/05/24 | 10,885,000 | 10,885,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 3.27% | 02/07/24 | 25,000,000 | 25,000,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 3.43% | 02/09/24 | 25,000,000 | 25,000,000 | ||
CP Series 9 (LIQ: BANK OF AMERICA NA) | 3.25% | 03/01/24 | 14,115,000 | 14,115,000 | ||
San Diego Housing Auth | ||||||
M/F Housing RB (Courthouse Commons) Series 2020F (LOC: MIZUHO BANK LTD) | (a) | 3.35% | 01/05/24 | 21,750,000 | 21,750,000 | |
M/F Housing RB (Park & Market Apts) Series 2017A (LOC: BANK OF AMERICA NA) | (a)(b) | 3.35% | 01/05/24 | 31,350,000 | 31,350,000 | |
San Diego Public Facilities Financing Auth | ||||||
Sub Water Revenue CP Series A (LOC: BANK OF AMERICA NA) | 3.35% | 04/03/24 | 43,126,000 | 43,126,000 | ||
San Diego USD | ||||||
GO Bonds Series 2017 & 2019 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
GO Bonds Series 2022 F2 | 5.00% | 07/01/24 | 3,920,000 | 3,957,614 | ||
GO Bonds Series 2022F2 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 2,000,000 | 2,000,000 | |
GO Bonds Series 2023A3 (LIQ: CITIBANK NA) | (b)(c)(d) | 3.87% | 01/05/24 | 2,450,000 | 2,450,000 | |
TRAN 2023-2024A | 5.00% | 06/28/24 | 20,325,000 | 20,504,657 | ||
San Francisco | ||||||
COP (49 S. Van Ness) Series 2019A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,135,000 | 3,135,000 | |
Lease Revenue CP Series 2 (LIQ: WELLS FARGO BANK NA) | 3.15% | 01/18/24 | 17,078,000 | 17,078,000 | ||
San Francisco Airport Commission | ||||||
RB 2nd Series 2016C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,975,000 | 1,975,000 | |
RB 2nd Series 2017B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.92% | 01/05/24 | 17,000,000 | 17,000,000 | |
RB 2nd Series 2018D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 15,330,000 | 15,330,000 | |
RB 2nd Series 2019A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 18,755,000 | 18,755,000 | |
RB 2nd Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.37% | 01/02/24 | 9,500,000 | 9,500,000 | |
RB 2nd Series 2019A & 2019E & 2022A (LOC: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 4,580,000 | 4,580,000 | |
RB 2nd Series 2019A&E (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 11,350,000 | 11,350,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
RB 2nd Series 2019A, 2019E, 2018D, 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 69,235,000 | 69,235,000 | |
RB 2nd Series 2019E, 2019A, 2018D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 43,395,000 | 43,395,000 | |
RB 2nd Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 10,400,000 | 10,400,000 | |
Refunding RB 2nd Series 2023C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 13,000,000 | 13,000,000 | |
Sub CP Notes A2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.50% | 02/12/24 | 100,000,000 | 100,000,000 | ||
Sub CP Notes A6 (LOC: BANK OF AMERICA NA) | 3.50% | 02/12/24 | 50,000,000 | 50,000,000 | ||
Sub CP Notes B5 (LOC: BARCLAYS BANK PLC) | 3.65% | 02/12/24 | 8,400,000 | 8,400,000 | ||
Sub CP Series A1 (LOC: STATE STREET BANK AND TRUST COMPANY) | 3.55% | 02/12/24 | 80,000,000 | 80,000,000 | ||
Sub CP Series A4 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.62% | 02/12/24 | 100,000,000 | 100,000,000 | ||
Sub CP Series B3 (LOC: BARCLAYS BANK PLC) | 3.58% | 02/12/24 | 13,500,000 | 13,500,000 | ||
San Francisco Bay Area Rapid Transit District | ||||||
GO Bonds Series 2020C1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 2,795,000 | 2,795,000 | |
GO Bonds Series 2022D1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 12,000,000 | 12,000,000 | |
GO Bonds Series 2022D1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.10% | 01/02/24 | 2,475,000 | 2,475,000 | |
GO Bonds Series 2022D1 (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 3,750,000 | 3,750,000 | |
GO Bonds Series 2022D1 & 2019B1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 2,155,000 | 2,155,000 | |
San Francisco Finance Corp | ||||||
Lease Refunding RB Series 20081 (LOC: TD BANK NA) | (a) | 2.70% | 01/05/24 | 25,400,000 | 25,400,000 | |
Lease Refunding RB Series 20082 (LOC: TD BANK NA) | (a) | 2.70% | 01/05/24 | 22,150,000 | 22,150,000 | |
San Francisco Housing Auth | ||||||
M/F Housing Refunding RB (Valencia Gardens) Series 2004 (LOC: CITIBANK NA) | (a) | 2.66% | 01/05/24 | 1,965,000 | 1,965,000 | |
San Francisco Public Utilities Commission | ||||||
Wastewater CP Series A6 (LIQ: STATE STREET BANK AND TRUST COMPANY) | 3.15% | 02/06/24 | 74,700,000 | 74,700,000 | ||
Wastewater RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 2,130,000 | 2,130,000 | |
San Francisco Redevelopment Agency | ||||||
M/F Housing RB (3rd & Mission) Series 1999C (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 2.78% | 01/05/24 | 100,000,000 | 100,000,000 | |
San Jose | ||||||
M/F Housing RB (Cinnabar Commons) Series 2003C (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 2.60% | 01/05/24 | 20,300,000 | 20,300,000 | |
M/F Housing RB (Pollard Plaza Apts) Series 2002D (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.94% | 01/05/24 | 695,000 | 695,000 | |
M/F Housing Refunding RB (Las Ventanas Apts) Series 2008B (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 2.70% | 01/05/24 | 25,900,000 | 25,900,000 | |
Sub Airport CP Notes Series A1 (LOC: BANK OF AMERICA NA) | 3.50% | 01/24/24 | 5,000,000 | 5,000,000 | ||
San Mateo Cnty Jt Powers Financing Auth | ||||||
Lease RB Series 2007A (LOC: WELLS FARGO BANK NA) | (a) | 2.90% | 01/05/24 | 3,740,000 | 3,740,000 | |
Lease RB Series 2018A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 9,045,000 | 9,045,000 | |
San Mateo Cnty Transportation Auth | ||||||
Sub Sales Tax RB Series 2020A (LOC: BANK OF AMERICA NA) | (a) | 2.49% | 01/05/24 | 34,550,000 | 34,550,000 | |
Sub Sales Tax RB Series 2020B (LOC: BANK OF AMERICA NA) | (a) | 3.65% | 01/02/24 | 20,280,000 | 20,280,000 | |
San Rafael Redevelopment Agency | ||||||
MF Hsg RB (San Rafael Commons Apts) Ser 2001A (LOC: CITIBANK NA) | (a) | 2.97% | 01/05/24 | 1,570,000 | 1,570,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Santa Clara Cnty Housing Auth | ||||||
M/F Housing Refunding RB (Willows Apts) Series 2005A (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 2.75% | 01/05/24 | 3,309,000 | 3,309,000 | |
Santa Cruz Cnty Successor Redevelopment Agency | ||||||
M/F Housing RB (Shaffer Road Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.93% | 01/05/24 | 21,025,000 | 21,025,000 | |
Southern California Metropolitan Water District | ||||||
Sub Water RB Series 2017C (SIFMA Municipal Swap Index + 0.14%) | (c) | 4.01% | 01/04/24 | 05/21/24 | 18,500,000 | 18,468,812 |
Sub Water Refunding RB Series 2017D (SIFMA Municipal Swap Index + 0.14%) | (c) | 4.01% | 01/04/24 | 05/21/24 | 4,700,000 | 4,695,483 |
Sub Water Refunding RB Series 2017E (SIFMA Municipal Swap Index + 0.14%) | (c) | 4.01% | 01/04/24 | 05/21/24 | 14,930,000 | 14,903,055 |
Water RB Series 2017A (LIQ: PNC BANK NA) | (a) | 3.87% | 01/02/24 | 23,725,000 | 23,725,000 | |
Water Refunding RB Series 2016B2 (LIQ: TD BANK NA) | (a) | 3.85% | 01/02/24 | 15,250,000 | 15,250,000 | |
Southern California Public Power Auth | ||||||
Refunding RB (Canyon Power) Series 2022B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 2.58% | 01/05/24 | 61,250,000 | 61,250,000 | |
Refunding RB (Windy Point/Windy Flats) Series 2020-1 | 5.00% | 04/01/24 | 17,070,000 | 17,106,871 | ||
Univ of California | ||||||
CP Notes Series 2009A | 3.20% | 01/11/24 | 30,000,000 | 30,000,000 | ||
CP Notes Series 2009A | 3.15% | 01/17/24 | 15,000,000 | 15,000,000 | ||
CP Notes Series 2009A | 3.20% | 01/17/24 | 4,320,000 | 4,320,000 | ||
CP Notes Series 2009A | 3.40% | 01/18/24 | 7,000,000 | 7,000,000 | ||
CP Notes Series 2009A | 3.20% | 01/24/24 | 25,000,000 | 25,000,000 | ||
CP Notes Series 2009A | 3.20% | 02/05/24 | 15,000,000 | 15,000,000 | ||
CP Notes Series 2009A | 3.30% | 02/07/24 | 15,000,000 | 15,000,000 | ||
CP Notes Series 2009A | 3.39% | 02/07/24 | 45,000,000 | 45,000,000 | ||
CP Notes Series 2009A | 3.20% | 02/13/24 | 23,000,000 | 23,000,000 | ||
CP Notes Series 2009A | 3.25% | 02/14/24 | 18,000,000 | 18,000,000 | ||
CP Notes Series 2009A | 3.28% | 02/15/24 | 6,500,000 | 6,500,000 | ||
CP Notes Series 2009A | 3.20% | 02/21/24 | 10,500,000 | 10,500,000 | ||
General RB Series 2018AZ (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 2,000,000 | 2,000,000 | |
General RB Series 2018AZ (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 2,000,000 | 2,000,000 | |
General RB Series 2022BK (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 18,500,000 | 18,500,000 | |
General RB Series 2023BN (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.87% | 01/05/24 | 5,690,000 | 5,690,000 | |
Limited Project RB Series 2017M (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.00% | 01/02/24 | 6,300,000 | 6,300,000 | |
Limited Project RB Series 2017M (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.00% | 01/02/24 | 4,705,000 | 4,705,000 | |
Limited Project RB Series 2018O (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 2,500,000 | 2,500,000 | |
Limited Project RB Series 2021Q | 5.00% | 05/15/24 | 300,000 | 301,453 | ||
Medical Center Pooled RB Series 2016L (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 1,875,000 | 1,875,000 | |
Medical Center Pooled RB Series 2022P (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.89% | 01/05/24 | 29,430,000 | 29,430,000 | |
Medical Center Pooled RB Series 2022P (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 2,250,000 | 2,250,000 | |
Medical Center Pooled RB Series 2022P (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 10,065,000 | 10,065,000 | |
Ventura USD | ||||||
GO Bonds Series A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,220,000 | 6,220,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Washington Township Health Care District | ||||||
GO Bonds Series 2015B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,800,000 | 3,800,000 | |
Westminster Redevelopment Agency | ||||||
M/F Housing RB (Brookhurst Royal) Series 2000A (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.85% | 01/05/24 | 3,365,000 | 3,365,000 | |
8,051,555,459 | ||||||
Total Municipal Securities (Cost $8,051,555,459) | 8,051,555,459 | |||||
Total Investments in Securities (Cost $8,051,555,459) | 8,051,555,459 |
(a) | 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. |
(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 $1,335,862,000 or 16.6% of net assets. |
(c) | Variable rate security; rate shown is effective rate at period end. |
(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. |
CCD — | Community college district |
COP — | Certificate of participation |
CP — | Commercial paper |
GO — | General obligation |
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. |
TOB — | Tender option bond |
TRAN — | Tax and revenue anticipation note |
USD — | Unified school district |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $8,051,555,459 | |
Cash | 55,412 | |
Receivables: | ||
Fund shares sold | 56,260,748 | |
Interest | 40,689,133 | |
Prepaid expenses | + | 68,701 |
Total assets | 8,148,629,453 | |
Liabilities | ||
Payables: | ||
Investments bought | 79,156,943 | |
Fund shares redeemed | 15,791,820 | |
Distributions to shareholders | 6,962,010 | |
Investment adviser and administrator fees | 1,254,681 | |
Shareholder service fees | 55,951 | |
Independent trustees’ fees | 149 | |
Accrued expenses | + | 288,747 |
Total liabilities | 103,510,301 | |
Net assets | $8,045,119,152 | |
Net Assets by Source | ||
Capital received from investors | $8,045,082,263 | |
Total distributable earnings | + | 36,889 |
Net assets | $8,045,119,152 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $2,483,404,315 | 2,482,798,747 | $1.00 | ||
Ultra Shares | $5,561,714,837 | 5,560,333,882 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $255,407,564 | |
Expenses | ||
Investment adviser and administrator fees | 16,865,349 | |
Shareholder service fees: | ||
Investor Shares | 4,120,897 | |
Registration fees | 437,095 | |
Portfolio accounting fees | 177,297 | |
Custodian fees | 122,977 | |
Professional fees | 69,874 | |
Independent trustees’ fees | 48,634 | |
Shareholder reports | 18,341 | |
Transfer agent fees | 1,321 | |
Other expenses | + | 74,146 |
Total expenses | 21,935,931 | |
Expense reduction | – | 931,634 |
Net expenses | – | 21,004,297 |
Net investment income | 234,403,267 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 912,481 | |
Increase in net assets resulting from operations | $235,315,748 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $234,403,267 | $59,355,208 | |
Net realized gains | + | 912,481 | 7,694 |
Increase in net assets from operations | $235,315,748 | $59,362,902 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($69,867,142 ) | ($20,212,511 ) | |
Ultra Shares | + | (165,164,884 ) | (39,148,424 ) |
Total distributions | ($235,032,026 ) | ($59,360,935 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 3,479,000,275 | 2,470,121,900 | |
Ultra Shares | + | 9,253,572,975 | 8,449,940,707 |
Total shares sold | 12,732,573,250 | 10,920,062,607 | |
Shares Reinvested | |||
Investor Shares | 52,337,407 | 15,263,669 | |
Ultra Shares | + | 129,002,978 | 31,087,508 |
Total shares reinvested | 181,340,385 | 46,351,177 | |
Shares Redeemed | |||
Investor Shares | (3,651,541,397 ) | (2,104,896,110 ) | |
Ultra Shares | + | (9,277,212,685 ) | (3,803,930,737 ) |
Total shares redeemed | (12,928,754,082 ) | (5,908,826,847 ) | |
Net transactions in fund shares | (14,840,447 ) | 5,057,586,937 | |
NET ASSETS | |||
Beginning of period | $8,059,675,877 | $3,002,086,973 | |
Total increase (decrease) | + | (14,556,725 ) | 5,057,588,904 |
End of period | $8,045,119,152 | $8,059,675,877 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 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 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 0.01 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Distributions from net realized gains | — | — | (0.00 )2 | (0.00 )2 | — | |
Total distributions | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 3.03 % | 0.92 % | 0.06 % | 0.34 % | 1.18 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.31 %3,4 | 0.12 %4 | 0.30 %4,5 | 0.35 % | |
Gross operating expenses | 0.36 % | 0.37 %3 | 0.38 % | 0.49 % | 0.51 % | |
Net investment income (loss) | 3.00 % | 1.05 % | 0.01 % | 0.43 % | 1.16 % | |
Net assets, end of period (x 1,000,000) | $989 | $702 | $470 | $668 | $1,466 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
5 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 9/24/201– 12/31/20 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.03 | 0.01 | 0.00 3 | 0.00 3 | ||
Net realized and unrealized gains (losses) | 0.00 3 | (0.00 )3 | 0.00 3 | 0.00 3 | ||
Total from investment operations | 0.03 | 0.01 | 0.00 3 | 0.00 3 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Distributions from net realized gains | — | — | (0.00 )3 | (0.00 )3 | ||
Total distributions | (0.03 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Total return | 3.19 % | 1.05 % | 0.06 % | 0.02 %4 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.19 %5,6 | 0.12 %6 | 0.19 %7 | ||
Gross operating expenses | 0.21 % | 0.22 %5 | 0.23 % | 0.22 %7 | ||
Net investment income (loss) | 3.13 % | 1.60 % | 0.01 % | 0.03 %7 | ||
Net assets, end of period (x 1,000,000) | $1,394 | $1,058 | $98 | $119 |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Ratio includes less than 0.005% of non-routine proxy expenses. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
7 | Annualized. |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 98.9% OF NET ASSETS | ||||||
NEW YORK 98.9% | ||||||
Battery Park City Auth | ||||||
Jr RB Series 2019D1 (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 3,065,000 | 3,065,000 | |
Jr RB Series 2019D1 (LIQ: TD BANK NA) | (a) | 3.88% | 01/05/24 | 2,555,000 | 2,555,000 | |
Bethlehem CSD | ||||||
BAN 2023B | 4.75% | 07/12/24 | 2,310,000 | 2,324,035 | ||
Burnt Hills - Ballston Lake CSD | ||||||
GO BAN Series 2023 | 4.50% | 06/21/24 | 10,755,487 | 10,797,648 | ||
Cazenovia CSD | ||||||
GO BAN 2023 | 4.75% | 07/12/24 | 5,000,000 | 5,029,352 | ||
Cheektowaga-Maryvale UFSD | ||||||
BAN 2023 | 5.00% | 07/24/24 | 8,000,000 | 8,054,594 | ||
Colonie Local Development Corp | ||||||
RB (Shaker Pointe at Carondelet) Series 2011 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 7,910,000 | 7,910,000 | |
RB (Shaker Pointe at Carondelet) Series 2013 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 9,725,000 | 9,725,000 | |
Connetquot CSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 8,500,000 | 8,553,140 | ||
Deer Park UFSD | ||||||
TAN Series 2023-2024 | 4.75% | 06/25/24 | 2,000,000 | 2,011,506 | ||
East Hampton UFSD | ||||||
TAN 2023-2024 Series B | 4.75% | 06/27/24 | 5,000,000 | 5,026,149 | ||
East Islip UFSD | ||||||
GO TAN 2023 | 5.25% | 06/27/24 | 7,000,000 | 7,041,352 | ||
East Rochester Hsg Auth | ||||||
Housing RB (Park Ridge Nursing Home) Series 2008 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 10,640,000 | 10,640,000 | |
Eastport South Manor CSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 3,200,000 | 3,215,599 | ||
Farmingdale NY | ||||||
BAN 2023B | 5.00% | 09/26/24 | 10,000,000 | 10,091,750 | ||
Harborfields CSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 2,000,000 | 2,010,284 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Hauppauge UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/25/24 | 3,000,000 | 3,019,294 | ||
Hudson Yards Infrastructure | ||||||
2nd Indenture RB Fiscal 2017 Series A (LIQ: CITIBANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 15,000,000 | 15,000,000 | |
2nd Indenture RB Fiscal 2017 Series A (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 12,500,000 | 12,500,000 | |
Islip UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 20,000,000 | 20,112,790 | ||
Lancaster CSD | ||||||
BAN 2023 | 5.00% | 06/07/24 | 20,000,000 | 20,106,674 | ||
Lancaster IDA | ||||||
Civic Facility RB (GreenField Manor) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.68% | 01/05/24 | 9,100,000 | 9,100,000 | |
IDRB (Sealing Devices) Series 2007 (LOC: HSBC BANK USA NA) | (a) | 3.94% | 01/05/24 | 815,000 | 815,000 | |
IDRB (Sealing Devices) Series 2016 (LOC: HSBC BANK USA NA) | (a) | 3.92% | 01/05/24 | 2,510,000 | 2,510,000 | |
Lindenhurst Union Free SD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 4,500,000 | 4,528,545 | ||
Massapequa UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 5,000,000 | 5,029,486 | ||
Metropolitan Transportation Auth | ||||||
Dedicated Tax Fund Refunding Bonds Series 2008A-1 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 52,875,000 | 52,875,000 | |
Dedicated Tax Fund Refunding Bonds Series 2008A-2A (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 6,535,000 | 6,535,000 | |
Transportation RB Series 2005D2 (LOC: BANK OF MONTREAL) | (a) | 4.10% | 01/02/24 | 26,510,000 | 26,510,000 | |
Transportation RB Series 2015E3 (LOC: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 9,485,000 | 9,485,000 | |
Transportation Refunding RB Series 2012G4 (LOC: BANK OF MONTREAL) | (a) | 4.10% | 01/02/24 | 9,355,000 | 9,355,000 | |
Middle Country CSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 20,000,000 | 20,136,648 | ||
Monroe Cnty IDA | ||||||
Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 7,100,000 | 7,100,000 | |
Mount Kisco | ||||||
BAN 2023A | 4.50% | 06/02/24 | 9,500,000 | 9,543,478 | ||
New York City | ||||||
GO Bonds Fiscal 2006 Series I5 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 5,500,000 | 5,500,000 |
GO Bonds Fiscal 2006 Series I-8 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 1,615,000 | 1,615,000 | |
GO Bonds Fiscal 2012 Series A5 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 14,165,000 | 14,165,000 | |
GO Bonds Fiscal 2012 Series D3A (LIQ: BANK OF NEW YORK MELLON/THE) | (a) | 4.07% | 01/02/24 | 3,895,000 | 3,895,000 | |
GO Bonds Fiscal 2012 Series D3B (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,900,000 | 1,900,000 | |
GO Bonds Fiscal 2012 Series G6 (LOC: MIZUHO BANK LTD) | (a) | 3.75% | 01/02/24 | 9,400,000 | 9,400,000 | |
GO Bonds Fiscal 2013 Series A3 (LOC: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 6,180,000 | 6,180,000 | |
GO Bonds Fiscal 2013 Series F3 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 16,975,000 | 16,975,000 | |
GO Bonds Fiscal 2014 Series D4 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 2,620,000 | 2,620,000 | |
GO Bonds Fiscal 2015 Series F7 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,830,000 | 7,830,000 | |
GO Bonds Fiscal 2017 Series A6 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.00% | 01/02/24 | 480,000 | 480,000 | |
GO Bonds Fiscal 2018 Series B4 (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 2,185,000 | 2,185,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
GO Bonds Fiscal 2018 Series E1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 6,850,000 | 6,850,000 | |
GO Bonds Fiscal 2018 Series E4 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 6,550,000 | 6,550,000 | |
GO Bonds Fiscal 2018 Series E5 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 5,300,000 | 5,300,000 | |
GO Bonds Fiscal 2018 Series F1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,515,000 | 2,515,000 | |
GO Bonds Fiscal 2019 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.10% | 01/02/24 | 2,985,000 | 2,985,000 | |
GO Bonds Fiscal 2020 Series D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,650,000 | 8,650,000 | |
GO Bonds Fiscal 2021 Series F1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
GO Bonds Fiscal 2022 Series D1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,485,000 | 3,485,000 | |
GO Bonds Fiscal 2022 Series D3 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 23,980,000 | 23,980,000 | |
GO Bonds Fiscal 2022 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 18,100,000 | 18,100,000 | |
GO Bonds Fiscal 2023 Series A1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 13,500,000 | 13,500,000 | |
GO Bonds Fiscal 2023 Series B1 (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
GO Bonds Fiscal 2023 Series B1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 900,000 | 900,000 | |
GO Bonds Fiscal 2023 Series E1 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,800,000 | 5,800,000 | |
GO Bonds Fiscal 2024 Series A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
New York City Housing Development Corp | ||||||
M/F Housing RB (90 West St) Series 2006A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.85% | 01/05/24 | 1,000,000 | 1,000,000 | |
M/F Housing RB (Atlantic Court Apts) Series 2005A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.91% | 01/05/24 | 35,000,000 | 35,000,000 | |
M/F Housing RB Series 2018L2 (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 600,000 | 600,000 | |
M/F Housing RB Series 2021F3 (LIQ: BARCLAYS BANK PLC) | (a) | 3.80% | 01/05/24 | 7,150,000 | 7,150,000 | |
M/F Housing RB Series 2022C3 (LIQ: BARCLAYS BANK PLC) | (a) | 3.85% | 01/05/24 | 3,900,000 | 3,900,000 | |
M/F Housing RB Series 2022F3 (LIQ: UBS AG) | (a) | 3.85% | 01/05/24 | 69,865,000 | 69,865,000 | |
M/F Housing RB Series 2023 E1A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 4.55% | 01/05/24 | 4,000,000 | 4,000,000 | |
M/F Housing RB Series 2023B2 (LIQ: TD BANK NA) | (a) | 3.85% | 01/05/24 | 22,300,000 | 22,300,000 | |
M/F Housing RB Series 2023E3 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
M/F Mortgage RB (201 Pearl St) Series 2006A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.97% | 01/05/24 | 1,100,000 | 1,100,000 | |
M/F Mortgage RB (East Clarke Place Associates) Series 2005A (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.00% | 01/05/24 | 1,430,000 | 1,430,000 | |
M/F Mortgage RB (Granville Payne Apts) Series 2006A (LOC: CITIBANK NA) | (a) | 3.77% | 01/05/24 | 5,160,000 | 5,160,000 | |
M/F Mortgage RB (State Renaissance Court) Series 2004A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.79% | 01/05/24 | 6,125,000 | 6,125,000 | |
M/F Mortgage RB (West 26th Street) Series 2011A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.95% | 01/05/24 | 17,525,000 | 17,525,000 | |
M/F Rental Housing RB (Related - W 89th St) Series 2000A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 10,700,000 | 10,700,000 | |
M/F Rental Housing RB (Sierra Development) Series 2003A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.91% | 01/05/24 | 11,000,000 | 11,000,000 | |
M/F Rental Housing RB (Westport) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.91% | 01/05/24 | 9,000,000 | 9,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New York City Municipal Water Finance Auth | ||||||
Water & Sewer System 2nd Resolution RB Fiscal 2007 Series CC2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.95% | 01/02/24 | 6,190,000 | 6,190,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 3,450,000 | 3,450,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2013 Series AA2 (LIQ: BARCLAYS BANK PLC) | (a) | 3.80% | 01/05/24 | 6,000,000 | 6,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA (LIQ: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 800,000 | 800,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 8,300,000 | 8,300,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 32,425,000 | 32,425,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA6 (LIQ: MIZUHO BANK LTD) | (a) | 4.05% | 01/02/24 | 10,330,000 | 10,330,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 6,300,000 | 6,300,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 9,565,000 | 9,565,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.05% | 01/02/24 | 9,700,000 | 9,700,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD Fiscal 2018 Series BB1&CC1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 9,995,000 | 9,995,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2018 Series DD1 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,665,000 | 1,665,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 3,315,000 | 3,315,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,165,000 | 3,165,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 & 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,345,000 | 3,345,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 (LIQ: MIZUHO BANK LTD) | (a) | 4.10% | 01/02/24 | 1,325,000 | 1,325,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 24,925,000 | 24,925,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 2,500,000 | 2,500,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & 2020 Series BB (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 2,030,000 | 2,030,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 8,750,000 | 8,750,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,700,000 | 1,700,000 | |
Water & Sewer System RB Fiscal 2008 Series BB3&BB4 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 9,135,000 | 9,135,000 | |
Water & Sewer System RB Fiscal 2010 Series CC (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 2,785,000 | 2,785,000 | |
Water & Sewer System RB Fiscal 2011 Series DD1 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 3,460,000 | 3,460,000 | |
Water & Sewer System RB Fiscal 2015 Series BB2 (LIQ: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 2,000,000 | 2,000,000 | |
Water & Sewer System RB Fiscal 2016 Series AA3 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 3,375,000 | 3,375,000 | |
Water & Sewer System RB Fiscal 2017 Series BB1B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 4,200,000 | 4,200,000 | |
Water & Sewer System RB Fiscal 2019 Series CC (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,000,000 | 1,000,000 | |
Water & Sewer System RB Fiscal 2021 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,615,000 | 3,615,000 | |
Water & Sewer System RB Fiscal 2023 Series AA3 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 5,600,000 | 5,600,000 | |
Water & Sewer System RB Fiscal 2023 Series BB2 (LIQ: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 22,485,000 | 22,485,000 | |
New York City Transitional Finance Auth | ||||||
Building Aid RB Fiscal 2021 Series S1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 6,450,000 | 6,450,000 | |
Future Tax Secured Sub Bonds Fiscal 2014 Series D3 (LIQ: MIZUHO BANK LTD) | (a) | 4.05% | 01/02/24 | 4,900,000 | 4,900,000 | |
Future Tax Secured Sub Bonds Fiscal 2015 Series E3 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 1,400,000 | 1,400,000 | |
Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 7,000,000 | 7,000,000 | |
Future Tax Secured Sub Bonds Fiscal 2016 Series E1 | 5.00% | 02/01/24 | 100,000 | 100,072 | ||
Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 400,000 | 400,000 | |
Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 4.22% | 01/02/24 | 985,000 | 985,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 6,560,000 | 6,560,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 3,600,000 | 3,600,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series C1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 900,000 | 900,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (LIQ: UBS AG) | (a) | 4.00% | 01/02/24 | 18,395,000 | 18,395,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series A3 (LIQ: BANK OF NEW YORK MELLON/THE) | (a) | 4.07% | 01/02/24 | 2,200,000 | 2,200,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,970,000 | 1,970,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,400,000 | 2,400,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 8,190,000 | 8,190,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,700,000 | 2,700,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series B (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,605,000 | 7,605,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,755,000 | 2,755,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 3,750,000 | 3,750,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 3,475,000 | 3,475,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (b)(c)(d) | 4.02% | 01/04/24 | 01/25/24 | 8,000,000 | 8,000,000 |
Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & 2023F1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 15,300,000 | 15,300,000 | |
New York City Trust for Cultural Resources | ||||||
Refunding RB (American Museum of Natural History) Series 2014B1 (SIFMA Municipal Swap Index + 0.04%) | (c) | 3.91% | 01/04/24 | 07/15/24 | 12,560,000 | 12,560,000 |
Refunding RB (American Museum of Natural History) Series 2014B2 (SIFMA Municipal Swap Index + 0.04%) | (c) | 3.91% | 01/04/24 | 04/29/24 | 9,900,000 | 9,900,000 |
New York Power Auth | ||||||
Green Transmission RB Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,665,000 | 6,665,000 | |
New York State Dormitory Auth | ||||||
NYC Court Facilities Lease RB Series 2005B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 19,000,000 | 19,000,000 |
RB (Catholic Health System) Series 2019B (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 3.80% | 01/05/24 | 34,000,000 | 34,000,000 | |
RB (Memorial Sloan-Kettering Cancer Center) Series 20221A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%) | (b)(c)(d) | 4.04% | 01/04/24 | 01/11/24 | 17,400,000 | 17,400,000 |
RB (Memorial Sloan-Kettering Cancer Center) Series 20221B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 5,215,000 | 5,215,000 | |
RB (Northwell Health) Series 2022A (LOC: BANK OF AMERICA NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,665,000 | 2,665,000 | |
RB (NYU Langone Hospitals) Series 2020A (LOC: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 705,000 | 705,000 | |
State Personal Income Tax RB Series 2017B (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 13,280,000 | 13,280,000 | |
State Personal Income Tax RB Series 2018A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 7,000,000 | 7,000,000 | |
State Personal Income Tax RB Series 2019A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,330,000 | 3,330,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,680,000 | 1,680,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
State Personal Income Tax RB Series 2020A & 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,725,000 | 1,725,000 | |
State Personal Income Tax RB Series 2020A 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 490,000 | 490,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
State Personal Income Tax RB Series 2021A (LIQ: CITIBANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 4,000,000 | 4,000,000 | |
State Personal Income Tax RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,870,000 | 8,870,000 | |
State Personal Income Tax RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,035,000 | 2,035,000 | |
State Personal Income Tax RB Series 2022A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,625,000 | 5,625,000 | |
State Sales Tax RB Series 2018C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,970,000 | 6,970,000 | |
State Sales Tax RB Series 2018E (LIQ: CITIBANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 3,785,000 | 3,785,000 | |
State Sales Tax RB Series 2018E (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,350,000 | 2,350,000 | |
State Sales Tax RB Series 2018E (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 17,600,000 | 17,600,000 | |
State Sales Tax RB Series 2018E (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,125,000 | 2,125,000 | |
New York State Energy Research & Development Auth | ||||||
Facilities RB (Consolidated Edison) Series 2005A3 (LOC: MIZUHO BANK LTD) | (a) | 3.80% | 01/05/24 | 5,700,000 | 5,700,000 | |
Facilities RB (Consolidated Edison) Series 2010A3 (LOC: BANK OF NOVA SCOTIA) | (a) | 3.83% | 01/05/24 | 48,100,000 | 48,100,000 | |
New York State Environmental Facilities Corp | ||||||
State Revolving Funds RB Series 2022B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,670,000 | 2,670,000 | |
State Revolving Funds RB Series 2022B (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 3,565,000 | 3,565,000 | |
New York State HFA | ||||||
Housing RB (100 Maiden Lane) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.75% | 01/05/24 | 5,500,000 | 5,500,000 | |
Housing RB (1500 Lexington Ave) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.78% | 01/05/24 | 16,700,000 | 16,700,000 | |
Housing RB (160 Madison Ave ) Series 2013A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.75% | 01/02/24 | 8,970,000 | 8,970,000 | |
Housing RB (250 W 50th Street) 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.91% | 01/05/24 | 8,900,000 | 8,900,000 | |
Housing RB (250 W 93rd St) Series 2005A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.82% | 01/05/24 | 32,975,000 | 32,975,000 | |
Housing RB (316 11th Ave) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 24,000,000 | 24,000,000 | |
Housing RB (360 W 43rd St) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 11,100,000 | 11,100,000 | |
Housing RB (39th St) Series 2000A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 18,900,000 | 18,900,000 | |
Housing RB (39th Street Associates) Series 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.91% | 01/05/24 | 22,200,000 | 22,200,000 | |
Housing RB (600 W 42nd St) Series 2008A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.00% | 01/05/24 | 47,175,000 | 47,175,000 | |
Housing RB (600 W 42nd Street) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 15,500,000 | 15,500,000 | |
Housing RB (750 6th Ave) Series 1998A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.95% | 01/05/24 | 2,000,000 | 2,000,000 | |
Housing RB (8 East 102nd St) Series 2010A (LOC: TD BANK NA) | (a) | 3.73% | 01/05/24 | 5,150,000 | 5,150,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Housing RB (Clinton Green North) Series 2005A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 38,145,000 | 38,145,000 | |
Housing RB (East 84th St) Series 1995A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.91% | 01/05/24 | 31,400,000 | 31,400,000 | |
Housing RB (Grace Towers) Series 2007A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.91% | 01/05/24 | 11,530,000 | 11,530,000 | |
Housing RB (Historic Front St) Series 2003A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.82% | 01/05/24 | 2,100,000 | 2,100,000 | |
Housing RB (McCarthy Manor Apts) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 3,655,000 | 3,655,000 | |
Housing RB (Theatre Row Tower) Series 2000A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 11,700,000 | 11,700,000 | |
Housing RB (Tribeca Park) Series 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 13,200,000 | 13,200,000 | |
Housing RB (W 17th St) Series 2009A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.75% | 01/05/24 | 575,000 | 575,000 | |
Housing RB (W. 23rd St.) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 13,000,000 | 13,000,000 | |
Housing RB (West Village Apts) Series 2008A (LOC: CITIBANK NA) | (a) | 3.78% | 01/05/24 | 4,900,000 | 4,900,000 | |
New York State Mortgage Agency | ||||||
Homeowner Mortgage RB Series 210 (LIQ: BARCLAYS BANK PLC) | (a) | 3.90% | 01/05/24 | 4,970,000 | 4,970,000 | |
Homeowner Mortgage RB Series 236 (LIQ: UBS AG) | (a) | 3.83% | 01/05/24 | 31,180,000 | 31,180,000 | |
New York State Power Auth | ||||||
CP Series 2 | 3.72% | 01/04/24 | 17,368,000 | 17,368,000 | ||
CP Series 2 | 3.75% | 01/09/24 | 11,400,000 | 11,400,000 | ||
CP Series 2 | 4.00% | 02/06/24 | 15,000,000 | 15,000,000 | ||
CP Series 2 | 3.90% | 02/07/24 | 22,124,000 | 22,124,000 | ||
CP Series 2 | 3.65% | 03/05/24 | 3,000,000 | 3,000,000 | ||
CP Series 2 | 3.67% | 03/07/24 | 10,720,588 | 10,720,588 | ||
RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 14,770,000 | 14,770,000 | |
RB Series 2020A (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,500,000 | 1,500,000 | |
New York State Thruway Auth | ||||||
State Personal Income Tax RB Series 2021A1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 790,000 | 790,000 | |
State Personal Income Tax RB Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 8,545,000 | 8,545,000 | |
State Personal Income Tax RB Series 2021A1, 2022A, 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 29,225,000 | 29,225,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,500,000 | 5,500,000 | |
State Personal Income Tax RB Series 2022C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 9,000,000 | 9,000,000 | |
State Personal Income Tax RB Series 2022C (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.92% | 01/05/24 | 2,150,000 | 2,150,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New York State Urban Development Corp | ||||||
State Personal Income Tax RB Series 2020C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 3,390,000 | 3,390,000 | |
State Personal Income Tax RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,190,000 | 7,190,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
State Personal Income Tax RB Series 2022A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 3,880,000 | 3,880,000 | |
State Sales Tax RB Series 2021A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,825,000 | 1,825,000 | |
State Sales Tax RB Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 4,000,000 | 4,000,000 | |
State Sales Tax RB Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 25,000,000 | 25,000,000 | |
State Sales Tax RB Series 2023A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (b)(c)(d) | 4.02% | 01/04/24 | 02/01/24 | 24,465,000 | 24,465,000 |
State Sales Tax RB Series 2023A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
North Hempstead | ||||||
GO BAN 2023B | 4.50% | 09/20/24 | 7,000,000 | 7,032,706 | ||
Nuveen New York AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.92% | 01/05/24 | 14,200,000 | 14,200,000 | |
Variable Rate Demand Preferred Shares Series 3 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.92% | 01/05/24 | 2,700,000 | 2,700,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b) | 3.91% | 01/05/24 | 40,000,000 | 40,000,000 | |
Onondaga Cnty IDA | ||||||
IDRB (G.A. Braun Inc) Series 2007 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.17% | 01/05/24 | 4,390,000 | 4,390,000 | |
Port Auth of New York & New Jersey | ||||||
Consolidated Bonds 177th Series (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.94% | 01/05/24 | 1,700,000 | 1,700,000 | |
Consolidated Bonds 200th Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
Consolidated Bonds 206th Series (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 2,000,000 | 2,000,000 | |
Consolidated Bonds 207th Series | 5.00% | 09/15/24 | 350,000 | 353,468 | ||
Consolidated Bonds 218th Series (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.38% | 01/02/24 | 3,930,000 | 3,930,000 | |
Consolidated Bonds 218th Series (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.94% | 01/05/24 | 1,745,000 | 1,745,000 | |
Consolidated Bonds 221st & 223rd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 5,040,000 | 5,040,000 | |
Consolidated Bonds 221st Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 6,815,000 | 6,815,000 | |
Consolidated Bonds 221st Series (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 1,310,000 | 1,310,000 | |
Consolidated Bonds 232nd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 640,000 | 640,000 | |
Consolidated Bonds 236th & 223rd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 2,855,000 | 2,855,000 | |
Consolidated Bonds 236th Series (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 7,600,000 | 7,600,000 | |
Consolidated Bonds 241st Series (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 1,400,000 | 1,400,000 | |
Consolidated Bonds 242nd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 2,400,000 | 2,400,000 | |
Consolidated Bonds 242nd Series (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,500,000 | 7,500,000 | |
Rensselaer Cnty IDA | ||||||
Civic Facility RB (Sage Colleges) Series 2002A (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 2,500,000 | 2,500,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Rondout Valley CSD | ||||||
GO BAN Series 2023A | 4.50% | 06/27/24 | 10,000,000 | 10,050,005 | ||
Sachem Central SD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 8,000,000 | 8,042,628 | ||
Scotia-Glenville CSD | ||||||
GO BAN 2023 | 4.75% | 06/28/24 | 12,770,000 | 12,836,510 | ||
South Country CSD | ||||||
TAN 2023-2024 | 5.00% | 05/30/24 | 6,000,000 | 6,032,307 | ||
South Huntington UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 3,500,000 | 3,521,894 | ||
Sweet Home CSD | ||||||
BAN Series 2023 | 4.75% | 06/27/24 | 10,000,000 | 10,052,712 | ||
Syosset CSD | ||||||
TAN 2023 | 5.00% | 06/25/24 | 7,000,000 | 7,048,102 | ||
Triborough Bridge & Tunnel Auth | ||||||
General RB Series 2001C (LOC: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 400,000 | 400,000 | |
General RB Series 2005A (LOC: BARCLAYS BANK PLC) | (a) | 3.80% | 01/05/24 | 6,200,000 | 6,200,000 | |
General RB Series 2018A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,250,000 | 1,250,000 | |
General RB Series 2019A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,305,000 | 3,305,000 | |
General RB Series 2019C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 4,750,000 | 4,750,000 | |
General RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 4,800,000 | 4,800,000 | |
General RB Series 2021A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,665,000 | 1,665,000 | |
General RB Series 2021A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,750,000 | 2,750,000 | |
General RB Series 2021A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 8,815,000 | 8,815,000 | |
General RB Series 2022A 2023B (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 8,225,000 | 8,225,000 | |
General RB Series 2023B1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 12,965,000 | 12,965,000 | |
General RB Series 2023B1 & 2020A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 1,925,000 | 1,925,000 | |
General Refunding RB Series 2005B3 (LOC: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 10,000,000 | 10,000,000 | |
General Refunding RB Series 2005B4A (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 8,700,000 | 8,700,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2021B1 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,050,000 | 4,050,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,040,000 | 1,040,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 345,000 | 345,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,610,000 | 8,610,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,555,000 | 4,555,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,840,000 | 3,840,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Payroll Mobility Tax Sr Lien Refunding RB Series 2023C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,025,000 | 4,025,000 | |
Payroll Mobility Tax Sr. Lien Bonds Series 2021A1 (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 10,380,000 | 10,380,000 | |
Payroll Mobility Tax Sr. Lien Bonds Series 2022A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (b)(c)(d) | 4.02% | 01/04/24 | 02/07/24 | 22,390,000 | 22,390,000 |
Payroll Mobility Tax Sr. Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,670,000 | 2,670,000 | |
Payroll Mobility Tax Sr. Lien Bonds Series 2022D2 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,100,000 | 4,100,000 | |
Sales Tax RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 13,000,000 | 13,000,000 | |
Sales Tax RB Series 2023A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 23,290,000 | 23,290,000 | |
Sales Tax RB Series 2023A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.14%) | (b)(c)(d) | 4.01% | 01/04/24 | 01/05/24 | 31,000,000 | 31,000,000 |
Sales Tax RB Series 2023A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 19,715,000 | 19,715,000 | |
Warren & Washington Cnty IDA | ||||||
Civic Facility RB (Glen at Hiland Meadows) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.68% | 01/05/24 | 555,000 | 555,000 | |
West Babylon UFSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 3,000,000 | 3,016,598 | ||
2,356,876,914 | ||||||
Total Municipal Securities (Cost $2,356,876,914) | 2,356,876,914 | |||||
Total Investments in Securities (Cost $2,356,876,914) | 2,356,876,914 |
(a) | 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. |
(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 $873,670,000 or 36.7% of net assets. |
(c) | Variable rate security; rate shown is effective rate at period end. |
(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 |
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. |
TAN — | Tax anticipation note |
TOB — | Tender option bond |
UFSD — | Union free school district |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $2,356,876,914 | |
Cash | 476,259 | |
Receivables: | ||
Fund shares sold | 24,461,013 | |
Interest | 14,230,505 | |
Prepaid expenses | + | 45,292 |
Total assets | 2,396,089,983 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 8,248,909 | |
Distributions to shareholders | 2,193,447 | |
Investments bought | 1,685,510 | |
Investment adviser and administrator fees | 305,852 | |
Shareholder service fees | 19,803 | |
Independent trustees’ fees | 130 | |
Accrued expenses | + | 193,334 |
Total liabilities | 12,646,985 | |
Net assets | $2,383,442,998 | |
Net Assets by Source | ||
Capital received from investors | $2,383,449,165 | |
Total distributable loss | + | (6,167 ) |
Net assets | $2,383,442,998 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $988,970,413 | 988,780,676 | $1.00 | ||
Ultra Shares | $1,394,472,585 | 1,394,213,097 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $70,871,021 | |
Expenses | ||
Investment adviser and administrator fees | 4,035,476 | |
Shareholder service fees: | ||
Investor Shares | 1,293,153 | |
Registration fees | 236,233 | |
Portfolio accounting fees | 101,744 | |
Custodian fees | 58,410 | |
Independent trustees’ fees | 40,849 | |
Professional fees | 36,365 | |
Shareholder reports | 9,282 | |
Transfer agent fees | 1,320 | |
Other expenses | + | 34,903 |
Total expenses | 5,847,735 | |
Expense reduction | – | 498,591 |
Net expenses | – | 5,349,144 |
Net investment income | 65,521,877 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 32,681 | |
Increase in net assets resulting from operations | $65,554,558 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $65,521,877 | $12,726,573 | |
Net realized gains (losses) | + | 32,681 | (39,267 ) |
Increase in net assets from operations | $65,554,558 | $12,687,306 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($25,905,622 ) | ($5,256,925 ) | |
Ultra Shares | + | (39,615,836 ) | (7,469,810 ) |
Total distributions | ($65,521,458 ) | ($12,726,735 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 1,490,519,963 | 680,580,405 | |
Ultra Shares | + | 2,918,814,507 | 1,793,692,043 |
Total shares sold | 4,409,334,470 | 2,474,272,448 | |
Shares Reinvested | |||
Investor Shares | 20,861,277 | 4,441,839 | |
Ultra Shares | + | 31,572,272 | 5,592,146 |
Total shares reinvested | 52,433,549 | 10,033,985 | |
Shares Redeemed | |||
Investor Shares | (1,224,542,428 ) | (452,849,124 ) | |
Ultra Shares | + | (2,613,427,831 ) | (839,644,803 ) |
Total shares redeemed | (3,837,970,259 ) | (1,292,493,927 ) | |
Net transactions in fund shares | 623,797,760 | 1,191,812,506 | |
NET ASSETS | |||
Beginning of period | $1,759,612,138 | $567,839,061 | |
Total increase | + | 623,830,860 | 1,191,773,077 |
End of period | $2,383,442,998 | $1,759,612,138 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS | |
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 |
2. Significant Accounting Policies:
SCHWAB CALIFORNIA MUNICIPAL MONEY FUND | SCHWAB NEW YORK MUNICIPAL MONEY FUND | |
% of total assets in securities with credit enhancements or liquidity enhancements | 77 % | 86 % |
% of total assets in securities with credit enhancements or liquidity enhancements 10% or greater from a single institution | 12 % | 11 % |
(Bank of America NA) | (Federal National Mortgage Association) | |
(JPMorgan Chase Bank NA) |
4. Risk Factors:
5. Affiliates and Affiliated Transactions:
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 % |
PURCHASE COST | SALE PROCEEDS | REALIZED GAINS (LOSSES) | |
Schwab California Municipal Money Fund | $191,572,327 | $346,161,718 | $0 |
Schwab New York Municipal Money Fund | 50,421,449 | 98,906,032 | 0 |
6. Board of Trustees:
8. Federal Income Taxes:
TAX COST | |
Schwab California Municipal Money Fund | $8,051,555,459 |
Schwab New York Municipal Money Fund | 2,356,876,914 |
UNDISTRIBUTED TAX-EXEMPT INCOME | CAPITAL LOSS CARRYFORWARDS AND OTHER LOSSES | TOTAL | |
Schwab California Municipal Money Fund | $36,889 | $— | $36,889 |
Schwab New York Municipal Money Fund | 419 | (6,586 ) | (6,167 ) |
Schwab California Municipal Money Fund | $— |
Schwab New York Municipal Money Fund | 6,586 |
Schwab California Municipal Money Fund | $— |
Schwab New York Municipal Money Fund | 32,681 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |||||
TAX-EXEMPT INCOME | ORDINARY INCOME | LONG-TERM CAPITAL GAINS | TAX-EXEMPT INCOME | ORDINARY INCOME | LONG-TERM CAPITAL GAINS | |
Schwab California Municipal Money Fund | $218,781,408 | $16,250,618 | $— | $52,643,749 | $6,711,459 | $5,727 |
Schwab New York Municipal Money Fund | 63,687,403 | 1,834,055 | — | 12,350,475 | 376,260 | — |
9. Subsequent Events:
Denver, Colorado
February 16, 2024
Schwab California Municipal Money Fund | 93.35 % |
Schwab New York Municipal Money Fund | 97.20 % |
Schwab California Municipal Money Fund | $108,629 |
Schwab New York Municipal Money Fund | — |
Schwab California Municipal Money Fund | 96.17 % |
Schwab New York Municipal Money Fund | 99.75 % |
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 |
Michael J. Beer 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 2022) | Retired. Director, President and Chief Executive Officer (Dec. 2016 – Sept. 2019), Principal Funds (investment management). | 106 | Director (2016 – 2019), Principal Funds, Inc. |
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. | 106 | 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. | 106 | 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. | 106 | 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). | 106 | None |
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). | 106 | 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). | 106 | 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.; Co-Chairman of the Board (July 2022 – present) and Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Co-Chairman of the Board (July 2022 – present) and Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Co-Chairman of the Board (July 2022 – present) and 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.; Manager (Sept. 2023 – present), TD Ameritrade Holding LLC; Director (Oct. 2020 – Aug. 2023), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 106 | Director (2008 – present), The Charles Schwab Corporation |
Richard A. Wurster2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2022) | President (Oct. 2021 – present) and Executive Vice President – Schwab Asset Management Solutions (Apr. 2019 – Oct. 2021), The Charles Schwab Corporation; President, Director (Oct. 2021 – present), Executive Vice President – Schwab Asset Management Solutions (July 2019 – Oct. 2021) and Senior Vice President – Advisory (May 2016 – July 2019), Charles Schwab & Co., Inc.; President (Nov. 2021 – present), Schwab Holdings, Inc.; Director (Oct. 2021 – present) and Chief Executive Officer (Nov. 2019 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Mar. 2018 – Oct. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (July 2016 – Apr. 2018) and President (Mar. 2017 – Apr. 2018), ThomasPartners, Inc.; Chief Executive Officer (July 2016 – Apr. 2018), Windhaven Investment Management, Inc. | 106 | 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 |
Omar Aguilar 1970 Chief Executive Officer, 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), President (Oct. 2023 – present), (Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Oct. 2022 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Sept. 2023 – present), President (Oct. 2023 – present), Chief Investment Officer (June 2011 – present) and Vice President (June 2011 – Sept. 2023), Schwab Funds, Laudus Trust and Schwab ETFs. |
Mark Fischer 1970 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) | Chief Operating Officer (Dec. 2020 – present) and Treasurer and Chief Financial Officer (Jan. 2016 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present), Chief Operating Officer (Oct. 2023 – present), Managing Director (Mar. 2023 – present) and Vice President (Oct. 2013 – Mar. 2023), Charles Schwab Investment Management, Inc. |
Dana Smith 1965 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2023) | Treasurer and Chief Financial Officer (Jan. 2023 – present) and Assistant Treasurer (Dec. 2015 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Vice President (Mar. 2022 – Mar. 2023) and Director (Oct. 2015 – Mar. 2022), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Apr. 2022 – May 2022), Charles Schwab & Co., Inc. |
Patrick Cassidy 1964 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 2018) | Chief Investment Officer (Oct. 2023 – present) and Vice President (Feb. 2018 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Chief Investment Officer (Oct. 2023 – present), and Senior Vice President (Oct. 2012 – Mar. 2023), Charles Schwab Investment Management, Inc. |
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) | Managing Director (Mar. 2023 – present), Senior Vice President (Jan. 2020 – Mar. 2023) 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), Managing Director (Mar. 2023 – present) and Vice President (Sept. 2005 – Mar. 2023), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Aug. 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. |
Member SIPC®
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No Action Required – Notice Regarding Shareholder Report Delivery |
Beginning on July 24, 2024, fund shareholder reports will be streamlined to highlight key information deemed important for investors to assess and monitor their fund investments. Other information, including financial statements, will not appear in the streamlined shareholder reports but will available online and delivered free of charge upon request. |
• If you already receive the full shareholder reports, you will receive the streamlined shareholder reports in the same way that you currently receive the full shareholder reports (either in paper or electronically). |
• If you currently receive a notification when a shareholder report is available on a fund’s website, beginning July 24, 2024, you will begin to receive the streamlined shareholder report (in paper). |
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. She has managed money market funds since 1988. |
Michael Lin, Senior Portfolio Manager for Schwab Asset Management, 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 for Schwab Asset Management, 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 for Schwab Asset Management, 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 for Schwab Asset Management, 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 | 38 Days |
Schwab Value Advantage Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWVXX | SNAXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 5.28% | 5.43% |
Seven-Day Yield (without waivers)2 | 5.25% | 5.40% |
Seven-Day Effective Yield (with waivers)2 | 5.42% | 5.57% |
EXPENSE RATIO (ANNUALIZED)1 | BEGINNING ACCOUNT VALUE AT 7/1/23 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 12/31/23 | EXPENSES PAID DURING PERIOD 7/1/23-12/31/232 | |
Schwab Value Advantage Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,026.50 | $1.74 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,027.30 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 days in the period, and divided by 365 days in the fiscal year. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.05 | 0.02 | 0.00 2 | 0.00 2 | 0.02 | |
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 | 0.05 | 0.02 | 0.00 2 | 0.00 2 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.02 ) | (0.00 )2,3 | (0.00 )2 | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | |
Total distributions | (0.05 ) | (0.02 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 5.03 % | 1.54 % | 0.04 %3 | 0.44 % | 2.07 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.31 %4,5 | 0.11 %5 | 0.28 %5,6 | 0.34 % | |
Gross operating expenses | 0.35 % | 0.35 %4 | 0.35 % | 0.41 % | 0.42 % | |
Net investment income (loss) | 4.96 % | 1.97 % | 0.04 % | 0.47 % | 2.02 % | |
Net assets, end of period (x 1,000,000) | $169,906 | $94,290 | $42,245 | $56,419 | $74,972 |
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 | Ratio includes less than 0.005% of non-routine proxy expenses. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
6 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.05 | 0.02 | 0.00 2 | 0.01 | 0.02 | |
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 | 0.05 | 0.02 | 0.00 2 | 0.01 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.02 ) | (0.00 )2,3 | (0.01 ) | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | |
Total distributions | (0.05 ) | (0.02 ) | (0.00 )2 | (0.01 ) | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 5.18 % | 1.66 % | 0.04 %3 | 0.53 % | 2.22 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.18 %4,5 | 0.11 %5 | 0.18 %5,6 | 0.19 % | |
Gross operating expenses | 0.20 % | 0.20 %4 | 0.20 % | 0.26 % | 0.27 % | |
Net investment income (loss) | 5.08 % | 2.09 % | 0.04 % | 0.56 % | 2.17 % | |
Net assets, end of period (x 1,000,000) | $95,499 | $69,065 | $33,078 | $37,882 | $47,497 |
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 $0.005 and the effect on the total return was 0.01%. |
4 | Ratio includes less than 0.005% of non-routine proxy expenses. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
6 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CERTIFICATES OF DEPOSIT 24.7% OF NET ASSETS | ||||||
BANK OF AMERICA NA | ||||||
5.88% | 03/11/24 | 500,000,000 | 500,000,000 | |||
5.88% | 03/12/24 | 253,000,000 | 253,000,000 | |||
5.93% | 04/05/24 | 360,000,000 | 360,000,000 | |||
5.81% | 04/10/24 | 400,000,000 | 400,000,000 | |||
5.90% | 04/17/24 | 64,000,000 | 64,000,000 | |||
5.75% | 05/06/24 | 390,000,000 | 390,000,000 | |||
5.90% | 05/10/24 | 265,000,000 | 265,000,000 | |||
5.81% | 07/15/24 | 350,000,000 | 350,000,000 | |||
5.72% | 07/22/24 | 295,000,000 | 295,000,000 | |||
5.80% | 08/09/24 | 475,000,000 | 475,000,000 | |||
6.00% | 08/16/24 | 111,000,000 | 111,000,000 | |||
6.00% | 09/23/24 | 98,000,000 | 98,000,000 | |||
6.00% | 10/01/24 | 157,000,000 | 157,000,000 | |||
5.96% | 10/30/24 | 300,000,000 | 300,000,000 | |||
BANK OF MONTREAL (CHICAGO BRANCH) | ||||||
5.80% | 04/11/24 | 300,000,000 | 300,000,000 | |||
5.75% | 05/06/24 | 497,000,000 | 497,000,000 | |||
5.62% | 06/03/24 | 300,000,000 | 300,000,000 | |||
BANK OF MONTREAL (LONDON BRANCH) | ||||||
5.58% | 06/12/24 | 285,000,000 | 285,000,000 | |||
BANK OF NOVA SCOTIA (HOUSTON BRANCH) | ||||||
5.73% | 01/05/24 | 100,000,000 | 100,000,000 | |||
5.83% | 03/27/24 | 500,000,000 | 500,000,000 | |||
5.92% | 04/05/24 | 800,000,000 | 800,000,000 | |||
6.05% | 06/28/24 | 195,000,000 | 195,000,000 | |||
5.93% | 07/19/24 | 190,000,000 | 190,000,000 | |||
5.55% | 09/05/24 | 240,000,000 | 240,000,000 | |||
5.60% | 09/11/24 | 495,000,000 | 495,000,000 | |||
BANK OF NOVA SCOTIA (NEW YORK BRANCH) | ||||||
(SOFR + 0.49%) | (a) | 5.89% | 01/02/24 | 05/01/24 | 85,000,000 | 85,000,000 |
BARCLAYS BANK PLC (NEW YORK BRANCH) | ||||||
5.85% | 03/04/24 | 800,000,000 | 800,000,000 | |||
5.57% | 06/20/24 | 495,000,000 | 495,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(SOFR + 0.32%) | (a) | 5.71% | 01/02/24 | 06/20/24 | 995,000,000 | 995,000,000 |
5.55% | 07/02/24 | 500,000,000 | 500,000,000 | |||
BNP PARIBAS (NEW YORK BRANCH) | ||||||
5.77% | 02/15/24 | 790,000,000 | 790,000,000 | |||
5.87% | 05/06/24 | 169,000,000 | 169,000,000 | |||
5.75% | 05/10/24 | 96,000,000 | 96,000,000 | |||
5.70% | 05/14/24 | 481,000,000 | 481,000,000 | |||
CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH) | ||||||
5.78% | 02/16/24 | 495,000,000 | 495,000,000 | |||
5.64% | 05/28/24 | 100,000,000 | 100,000,000 | |||
5.61% | 06/03/24 | 470,000,000 | 470,000,000 | |||
5.57% | 06/06/24 | 500,000,000 | 500,000,000 | |||
CITIBANK (NEW YORK STATE) | ||||||
5.92% | 07/29/24 | 500,000,000 | 500,000,000 | |||
CITIBANK NA | ||||||
5.75% | 01/02/24 | 475,000,000 | 475,000,000 | |||
5.77% | 01/03/24 | 480,000,000 | 480,000,000 | |||
5.76% | 02/01/24 | 489,000,000 | 489,000,000 | |||
5.80% | 02/27/24 | 636,000,000 | 636,000,000 | |||
5.88% | 05/08/24 | 500,000,000 | 500,000,000 | |||
(SOFR + 0.50%) | (a) | 5.89% | 01/02/24 | 05/09/24 | 480,000,000 | 480,000,000 |
(SOFR + 0.60%) | (a) | 5.99% | 01/02/24 | 10/28/24 | 400,000,000 | 400,000,000 |
COOPERATIEVE RABOBANK UA (LONDON BRANCH) | ||||||
5.84% | 04/12/24 | 1,000,000,000 | 999,828,435 | |||
5.60% | 06/04/24 | 975,000,000 | 975,000,000 | |||
COOPERATIEVE RABOBANK UA (NEW YORK BRANCH) | ||||||
5.74% | 02/20/24 | 190,000,000 | 190,000,000 | |||
(SOFR + 0.37%) | (a) | 5.77% | 01/02/24 | 03/18/24 | 244,000,000 | 244,000,000 |
5.67% | 05/22/24 | 80,000,000 | 80,000,000 | |||
5.87% | 06/20/24 | 98,000,000 | 98,000,000 | |||
5.70% | 07/22/24 | 95,000,000 | 95,000,000 | |||
5.70% | 09/05/24 | 100,000,000 | 100,000,000 | |||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW YORK BRANCH) | ||||||
5.74% | 02/02/24 | 637,000,000 | 637,000,000 | |||
5.53% | 03/12/24 | 294,000,000 | 294,000,000 | |||
5.44% | 03/26/24 | 244,000,000 | 244,000,000 | |||
5.42% | 03/28/24 | 300,000,000 | 300,000,000 | |||
CREDIT AGRICOLE SA (LONDON BRANCH) | ||||||
5.62% | 03/22/24 | 400,000,000 | 400,000,000 | |||
5.66% | 05/22/24 | 500,000,000 | 500,000,000 | |||
HSBC BANK USA NA (NEW YORK BRANCH) | ||||||
5.53% | 03/04/24 | 196,000,000 | 196,000,000 | |||
LANDESBANK BADEN WUERTTEMBERG (NEW YORK BRANCH) | ||||||
5.32% | 01/04/24 | 489,000,000 | 489,000,000 | |||
5.33% | 01/05/24 | 245,000,000 | 245,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
MITSUBISHI UFJ TRUST AND BANKING CORP (LONDON BRANCH) | ||||||
5.87% | 02/08/24 | 246,000,000 | 246,000,000 | |||
5.86% | 03/20/24 | 51,000,000 | 51,000,000 | |||
MITSUBISHI UFJ TRUST AND BANKING CORP (NEW YORK BRANCH) | ||||||
5.82% | 01/05/24 | 312,000,000 | 312,000,000 | |||
(SOFR + 0.44%) | (a) | 5.83% | 01/02/24 | 01/17/24 | 240,000,000 | 240,000,000 |
(SOFR + 0.43%) | (a) | 5.83% | 01/02/24 | 01/22/24 | 295,000,000 | 295,000,000 |
(SOFR + 0.41%) | (a) | 5.81% | 01/02/24 | 02/01/24 | 263,000,000 | 263,000,000 |
(SOFR + 0.42%) | (a) | 5.82% | 01/02/24 | 02/01/24 | 471,000,000 | 471,000,000 |
(SOFR + 0.41%) | (a) | 5.81% | 01/02/24 | 02/09/24 | 259,000,000 | 259,000,000 |
(SOFR + 0.41%) | (a) | 5.81% | 01/02/24 | 02/26/24 | 332,000,000 | 332,000,000 |
(SOFR + 0.39%) | (a) | 5.79% | 01/02/24 | 03/04/24 | 347,000,000 | 347,000,000 |
(SOFR + 0.40%) | (a) | 5.80% | 01/02/24 | 03/20/24 | 338,000,000 | 338,000,000 |
5.82% | 04/15/24 | 126,000,000 | 126,000,000 | |||
MIZUHO BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.43%) | (a) | 5.82% | 01/02/24 | 02/02/24 | 948,000,000 | 948,000,000 |
5.85% | 04/26/24 | 500,000,000 | 500,000,000 | |||
5.85% | 05/07/24 | 489,000,000 | 489,000,000 | |||
5.78% | 05/13/24 | 700,000,000 | 700,000,000 | |||
5.73% | 05/15/24 | 76,000,000 | 76,000,000 | |||
5.71% | 05/17/24 | 424,000,000 | 424,000,000 | |||
MUFG BANK LTD (LONDON BRANCH) | ||||||
5.82% | 02/12/24 | 245,000,000 | 245,000,000 | |||
5.60% | 03/15/24 | 292,000,000 | 292,000,000 | |||
5.59% | 03/20/24 | 200,000,000 | 200,000,000 | |||
MUFG BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.45%) | (a) | 5.84% | 01/02/24 | 01/05/24 | 130,000,000 | 130,000,000 |
(SOFR + 0.43%) | (a) | 5.82% | 01/02/24 | 01/24/24 | 137,000,000 | 137,000,000 |
5.78% | 02/13/24 | 385,000,000 | 385,000,000 | |||
5.79% | 02/16/24 | 95,000,000 | 95,000,000 | |||
5.78% | 02/22/24 | 285,000,000 | 285,000,000 | |||
(SOFR + 0.39%) | (a) | 5.78% | 01/02/24 | 02/29/24 | 489,000,000 | 489,000,000 |
(SOFR + 0.39%) | (a) | 5.78% | 01/02/24 | 03/04/24 | 206,000,000 | 206,000,000 |
(SOFR + 0.39%) | (a) | 5.78% | 01/02/24 | 03/08/24 | 500,000,000 | 500,000,000 |
5.80% | 03/11/24 | 380,000,000 | 380,000,000 | |||
5.81% | 03/14/24 | 60,000,000 | 60,000,000 | |||
5.84% | 04/09/24 | 99,000,000 | 99,000,000 | |||
5.84% | 04/18/24 | 162,000,000 | 162,000,000 | |||
5.85% | 04/23/24 | 51,500,000 | 51,500,000 | |||
5.85% | 04/25/24 | 500,000,000 | 500,000,000 | |||
5.85% | 04/29/24 | 107,000,000 | 107,000,000 | |||
5.85% | 04/30/24 | 423,000,000 | 423,000,000 | |||
5.78% | 05/07/24 | 53,000,000 | 53,000,000 | |||
5.72% | 05/20/24 | 40,000,000 | 40,000,000 | |||
5.71% | 05/21/24 | 16,000,000 | 16,000,000 | |||
5.78% | 05/22/24 | 401,000,000 | 401,000,000 | |||
5.71% | 05/24/24 | 333,000,000 | 333,000,000 | |||
5.76% | 05/24/24 | 38,000,000 | 38,000,000 | |||
5.70% | 05/29/24 | 483,500,000 | 483,500,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.62% | 06/04/24 | 199,750,000 | 199,765,893 | |||
5.59% | 06/07/24 | 61,000,000 | 61,000,000 | |||
NATIXIS (NEW YORK BRANCH) | ||||||
5.73% | 02/08/24 | 400,000,000 | 400,000,000 | |||
NORDEA BANK ABP (NEW YORK BRANCH) | ||||||
5.74% | 02/14/24 | 195,000,000 | 195,000,000 | |||
(SOFR + 0.34%) | (a) | 5.74% | 01/02/24 | 02/21/24 | 300,000,000 | 300,000,000 |
(SOFR + 0.37%) | (a) | 5.77% | 01/02/24 | 03/04/24 | 244,000,000 | 244,000,000 |
OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.39%) | (a) | 5.78% | 01/02/24 | 01/11/24 | 35,000,000 | 34,999,979 |
5.61% | 03/01/24 | 100,000,000 | 100,000,000 | |||
5.61% | 03/05/24 | 200,000,000 | 200,000,000 | |||
(SOFR + 0.35%) | (a) | 5.74% | 01/02/24 | 03/06/24 | 98,000,000 | 98,000,000 |
(SOFR + 0.35%) | (a) | 5.74% | 01/02/24 | 03/12/24 | 489,000,000 | 489,000,000 |
(SOFR + 0.36%) | (a) | 5.75% | 01/02/24 | 04/26/24 | 198,000,000 | 198,000,000 |
ROYAL BANK OF CANADA (NEW YORK BRANCH) | ||||||
(SOFR + 0.53%) | (a) | 5.93% | 01/02/24 | 04/10/24 | 300,000,000 | 300,000,000 |
(SOFR + 0.51%) | (a) | 5.91% | 01/02/24 | 04/24/24 | 230,000,000 | 230,000,000 |
(SOFR + 0.64%) | (a) | 6.04% | 01/02/24 | 07/10/24 | 350,000,000 | 350,000,000 |
(SOFR + 0.63%) | (a) | 6.03% | 01/02/24 | 07/15/24 | 200,000,000 | 200,000,000 |
5.72% | 08/16/24 | 705,000,000 | 705,000,000 | |||
6.00% | 10/17/24 | 280,000,000 | 280,000,000 | |||
SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH) | ||||||
(SOFR + 0.46%) | (a) | 5.86% | 01/02/24 | 01/04/24 | 550,000,000 | 550,000,000 |
(SOFR + 0.46%) | (a) | 5.86% | 01/02/24 | 01/11/24 | 226,000,000 | 226,000,000 |
(SOFR + 0.47%) | (a) | 5.87% | 01/02/24 | 01/17/24 | 522,000,000 | 522,000,000 |
(SOFR + 0.44%) | (a) | 5.84% | 01/02/24 | 01/23/24 | 200,000,000 | 200,000,000 |
(SOFR + 0.44%) | (a) | 5.84% | 01/02/24 | 01/31/24 | 133,000,000 | 133,000,000 |
(SOFR + 0.42%) | (a) | 5.82% | 01/02/24 | 02/08/24 | 590,000,000 | 590,000,000 |
(SOFR + 0.38%) | (a) | 5.78% | 01/02/24 | 02/21/24 | 300,000,000 | 300,000,000 |
(SOFR + 0.39%) | (a) | 5.79% | 01/02/24 | 04/01/24 | 476,000,000 | 476,000,000 |
(SOFR + 0.39%) | (a) | 5.79% | 01/02/24 | 04/09/24 | 500,000,000 | 500,000,000 |
5.82% | 04/12/24 | 198,000,000 | 198,000,000 | |||
5.85% | 04/19/24 | 52,500,000 | 52,500,000 | |||
5.85% | 04/23/24 | 300,000,000 | 300,000,000 | |||
5.78% | 05/06/24 | 209,000,000 | 209,000,000 | |||
5.68% | 05/28/24 | 144,000,000 | 144,000,000 | |||
(SOFR + 0.37%) | (a) | 5.77% | 01/02/24 | 05/29/24 | 88,000,000 | 88,000,000 |
(SOFR + 0.33%) | (a) | 5.73% | 01/02/24 | 06/04/24 | 200,000,000 | 200,000,000 |
(SOFR + 0.30%) | (a) | 5.70% | 01/02/24 | 06/10/24 | 300,000,000 | 300,000,000 |
(SOFR + 0.30%) | (a) | 5.70% | 01/02/24 | 06/11/24 | 91,000,000 | 91,000,000 |
SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH) | ||||||
5.69% | 02/26/24 | 95,000,000 | 95,000,000 | |||
5.62% | 03/06/24 | 150,000,000 | 148,522,325 | |||
5.60% | 03/18/24 | 140,000,000 | 140,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.40%) | (a) | 5.80% | 01/02/24 | 02/20/24 | 400,000,000 | 400,000,000 |
(SOFR + 0.40%) | (a) | 5.80% | 01/02/24 | 02/21/24 | 598,000,000 | 598,000,000 |
5.62% | 02/29/24 | 562,000,000 | 562,000,000 | |||
5.62% | 03/01/24 | 95,000,000 | 95,000,000 | |||
5.53% | 03/19/24 | 379,000,000 | 379,000,000 | |||
SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH) | ||||||
(SOFR + 0.34%) | (a) | 5.73% | 01/02/24 | 02/22/24 | 495,000,000 | 495,000,000 |
(SOFR + 0.34%) | (a) | 5.73% | 01/02/24 | 02/29/24 | 296,000,000 | 296,000,000 |
5.75% | 05/13/24 | 300,000,000 | 300,000,000 | |||
SWEDBANK AB (NEW YORK BRANCH) | ||||||
5.75% | 02/20/24 | 400,000,000 | 400,000,000 | |||
5.75% | 02/22/24 | 500,000,000 | 500,000,000 | |||
5.80% | 02/28/24 | 530,000,000 | 530,000,000 | |||
5.81% | 04/02/24 | 600,000,000 | 600,000,000 | |||
TORONTO-DOMINION BANK (NEW YORK BRANCH) | ||||||
5.86% | 03/22/24 | 475,000,000 | 475,000,000 | |||
5.96% | 04/08/24 | 149,000,000 | 149,000,000 | |||
5.90% | 04/29/24 | 183,000,000 | 183,000,000 | |||
(EFFR + 0.50%) | (a) | 5.83% | 01/02/24 | 05/21/24 | 420,000,000 | 420,000,000 |
(EFFR + 0.50%) | (a) | 5.83% | 01/02/24 | 05/22/24 | 199,000,000 | 199,000,000 |
5.85% | 07/12/24 | 245,000,000 | 245,000,000 | |||
5.92% | 07/26/24 | 574,000,000 | 574,000,000 | |||
5.92% | 07/31/24 | 500,000,000 | 500,000,000 | |||
(SOFR + 0.60%) | (a) | 5.99% | 01/02/24 | 07/31/24 | 506,000,000 | 506,000,000 |
6.00% | 08/15/24 | 158,000,000 | 158,000,000 | |||
6.00% | 08/21/24 | 420,000,000 | 420,000,000 | |||
6.00% | 10/16/24 | 500,000,000 | 500,000,000 | |||
6.00% | 10/17/24 | 235,000,000 | 235,000,000 | |||
TRUIST BANK | ||||||
5.63% | 01/02/24 | 248,000,000 | 248,000,000 | |||
5.32% | 01/03/24 | 489,500,000 | 489,500,000 | |||
5.32% | 01/04/24 | 979,000,000 | 979,000,000 | |||
5.52% | 01/31/24 | 1,000,000,000 | 1,000,000,000 | |||
5.61% | 03/04/24 | 295,000,000 | 295,000,000 | |||
5.61% | 03/08/24 | 1,000,000,000 | 1,000,000,000 | |||
5.61% | 03/13/24 | 500,000,000 | 500,000,000 | |||
UBS AG (STAMFORD BRANCH) | ||||||
5.80% | 04/04/24 | 95,000,000 | 95,000,000 | |||
WELLS FARGO BANK NA | ||||||
(SOFR + 0.36%) | (a) | 5.76% | 01/02/24 | 03/04/24 | 485,000,000 | 485,000,000 |
(SOFR + 0.53%) | (a) | 5.93% | 01/02/24 | 04/11/24 | 300,000,000 | 300,000,000 |
(SOFR + 0.50%) | (a) | 5.90% | 01/02/24 | 05/14/24 | 395,000,000 | 395,000,000 |
(SOFR + 0.52%) | (a) | 5.92% | 01/02/24 | 06/03/24 | 990,000,000 | 990,000,000 |
(SOFR + 0.52%) | (a) | 5.92% | 01/02/24 | 06/04/24 | 990,000,000 | 990,000,000 |
(SOFR + 0.52%) | (a) | 5.92% | 01/02/24 | 06/05/24 | 490,000,000 | 490,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(SOFR + 0.50%) | (a) | 5.90% | 01/02/24 | 06/25/24 | 500,000,000 | 500,000,000 |
(SOFR + 0.49%) | (a) | 5.89% | 01/02/24 | 08/05/24 | 500,000,000 | 500,000,000 |
Total Certificates Of Deposit (Cost $65,494,116,632) | 65,494,116,632 | |||||
ASSET-BACKED COMMERCIAL PAPER 5.4% OF NET ASSETS | ||||||
ATLANTIC ASSET SECURITIZATION LLC | ||||||
(b)(c) | 5.31% | 01/02/24 | 24,000,000 | 24,000,000 | ||
(b)(c) | 5.52% | 03/13/24 | 30,000,000 | 29,677,542 | ||
(b)(c) | 5.52% | 03/14/24 | 72,200,000 | 71,413,020 | ||
(b)(c) | 5.53% | 03/18/24 | 52,000,000 | 51,401,711 | ||
BARTON CAPITAL SA | ||||||
(b)(c) | 5.32% | 01/02/24 | 98,000,000 | 98,000,000 | ||
(b)(c) | 5.59% | 03/11/24 | 75,000,000 | 74,209,375 | ||
(b)(c) | 5.56% | 03/19/24 | 50,000,000 | 49,415,014 | ||
BEDFORD ROW FUNDING CORP | ||||||
(b)(c) | 5.77% | 02/05/24 | 140,000,000 | 139,259,556 | ||
(SOFR + 0.38%) | (a)(b)(c) | 5.78% | 01/02/24 | 02/14/24 | 136,000,000 | 136,000,000 |
(SOFR + 0.37%) | (a)(b)(c) | 5.77% | 01/02/24 | 02/20/24 | 75,000,000 | 75,000,000 |
(SOFR + 0.40%) | (a)(b)(c) | 5.80% | 01/02/24 | 03/01/24 | 196,000,000 | 196,000,000 |
(b)(c) | 5.62% | 04/01/24 | 180,000,000 | 177,520,501 | ||
(SOFR + 0.48%) | (a)(b)(c) | 5.88% | 01/02/24 | 05/02/24 | 147,000,000 | 147,000,000 |
(b)(c) | 5.67% | 05/20/24 | 147,000,000 | 143,872,616 | ||
(b)(c) | 5.69% | 05/22/24 | 275,000,000 | 269,043,729 | ||
BENNINGTON STARK CAPITAL COMPANY LLC | ||||||
(b)(c) | 5.53% | 03/08/24 | 275,000,000 | 272,252,292 | ||
(b)(c) | 5.61% | 03/08/24 | 235,000,000 | 232,621,800 | ||
CABOT TRAIL FUNDING LLC | ||||||
(b)(c) | 5.70% | 05/21/24 | 50,000,000 | 48,922,778 | ||
(b)(c) | 5.57% | 06/10/24 | 122,000,000 | 119,061,156 | ||
CAFCO LLC | ||||||
(b)(c) | 5.31% | 01/02/24 | 22,100,000 | 22,100,000 | ||
(b)(c) | 5.58% | 04/19/24 | 98,000,000 | 96,394,760 | ||
(b)(c) | 5.51% | 04/22/24 | 50,000,000 | 49,167,500 | ||
CHARIOT FUNDING LLC | ||||||
(b)(c) | 5.76% | 01/08/24 | 200,000,000 | 199,813,333 | ||
(b)(c) | 5.74% | 01/09/24 | 230,000,000 | 229,750,450 | ||
(b)(c) | 5.74% | 01/10/24 | 200,000,000 | 199,752,000 | ||
(SOFR + 0.40%) | (a)(b)(c) | 5.79% | 01/02/24 | 05/28/24 | 235,000,000 | 235,000,000 |
(SOFR + 0.40%) | (a)(b)(c) | 5.79% | 01/02/24 | 05/30/24 | 735,000,000 | 735,000,000 |
CHARTA LLC | ||||||
(b)(c) | 5.31% | 01/02/24 | 134,600,000 | 134,600,000 | ||
(b)(c) | 5.76% | 02/01/24 | 25,000,000 | 24,883,333 | ||
COLLATERALIZED COMMERCIAL PAPER V CO LLC | ||||||
(b) | 5.80% | 05/24/24 | 165,000,000 | 165,000,000 | ||
(SOFR + 0.41%) | (a)(b) | 5.81% | 01/02/24 | 05/29/24 | 424,000,000 | 424,000,000 |
(b) | 5.60% | 06/20/24 | 495,000,000 | 495,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CONCORD MINUTEMEN CAPITAL CO LLC SERIES C | ||||||
(b)(c) | 5.75% | 02/12/24 | 27,000,000 | 27,000,000 | ||
(b)(c) | 5.75% | 02/13/24 | 34,000,000 | 34,000,000 | ||
(b)(c) | 5.75% | 02/16/24 | 13,960,000 | 13,960,000 | ||
(b)(c) | 5.72% | 02/20/24 | 182,175,000 | 182,175,000 | ||
CRC FUNDING LLC | (b)(c) | 5.31% | 01/02/24 | 46,700,000 | 46,700,000 | |
FAIRWAY FINANCE CO LLC | ||||||
(b)(c) | 5.76% | 01/09/24 | 15,000,000 | 14,983,667 | ||
(b)(c) | 5.75% | 01/16/24 | 100,000,000 | 99,783,000 | ||
GOTHAM FUNDING CORP | ||||||
(b)(c) | 5.72% | 01/09/24 | 200,000,000 | 199,783,778 | ||
(b)(c) | 5.77% | 01/29/24 | 75,000,000 | 74,684,437 | ||
(b)(c) | 5.79% | 02/20/24 | 150,000,000 | 148,852,583 | ||
(b)(c) | 5.77% | 02/26/24 | 49,000,000 | 48,580,029 | ||
(b)(c) | 5.58% | 02/29/24 | 50,000,000 | 49,556,944 | ||
(b)(c) | 5.61% | 03/05/24 | 110,000,000 | 108,937,400 | ||
(b)(c) | 5.54% | 03/08/24 | 75,000,000 | 74,249,250 | ||
(b)(c) | 5.54% | 03/11/24 | 98,000,000 | 96,974,430 | ||
(b)(c) | 5.82% | 04/11/24 | 150,000,000 | 147,645,833 | ||
GREAT BEAR FUNDING LLC / GREAT BEAR FUNDING DAC | ||||||
(b)(c) | 5.33% | 01/02/24 | 98,000,000 | 98,000,000 | ||
(b)(c) | 5.35% | 01/03/24 | 262,000,000 | 261,961,137 | ||
(b)(c) | 5.35% | 01/04/24 | 196,000,000 | 195,941,854 | ||
(b)(c) | 5.35% | 01/05/24 | 197,000,000 | 196,912,335 | ||
Liberty Street Funding LLC | ||||||
(b)(c) | 5.76% | 01/24/24 | 20,000,000 | 19,931,556 | ||
(b)(c) | 5.76% | 01/25/24 | 50,000,000 | 49,821,111 | ||
(b)(c) | 5.77% | 02/01/24 | 60,000,000 | 59,720,000 | ||
(b)(c) | 5.83% | 05/10/24 | 350,000,000 | 342,913,958 | ||
LMA AMERICAS LLC | (b)(c) | 5.32% | 01/02/24 | 147,000,000 | 147,000,000 | |
LONGSHIP FUNDING LLC | (b)(c) | 5.32% | 01/02/24 | 98,000,000 | 98,000,000 | |
MANHATTAN ASSET FUNDING COMPANY LLC | ||||||
(b)(c) | 5.81% | 03/25/24 | 50,000,000 | 49,348,681 | ||
(b)(c) | 5.82% | 05/01/24 | 49,000,000 | 48,077,167 | ||
(b)(c) | 5.61% | 06/05/24 | 50,000,000 | 48,826,736 | ||
NIEUW AMSTERDAM RECEIVABLES CORPORATION BV | (b)(c) | 5.31% | 01/02/24 | 183,909,000 | 183,909,000 | |
OLD LINE FUNDING LLC | ||||||
(b)(c) | 5.77% | 02/05/24 | 150,000,000 | 149,206,667 | ||
(SOFR + 0.38%) | (a)(b)(c) | 5.77% | 01/02/24 | 02/05/24 | 75,000,000 | 75,000,000 |
(b)(c) | 5.96% | 04/02/24 | 75,000,000 | 73,919,375 | ||
(b)(c) | 5.57% | 06/11/24 | 145,000,000 | 141,485,281 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
PODIUM FUNDING TRUST | ||||||
(b) | 5.81% | 03/19/24 | 200,000,000 | 197,587,333 | ||
(b) | 5.78% | 05/06/24 | 100,000,000 | 98,048,611 | ||
(b) | 5.61% | 06/07/24 | 50,000,000 | 48,811,597 | ||
(b) | 5.61% | 06/10/24 | 40,000,000 | 39,029,333 | ||
(b) | 5.62% | 06/10/24 | 54,000,000 | 52,689,600 | ||
PRICOA SHORT TERM FUNDING LLC | ||||||
(b)(c) | 5.76% | 01/26/24 | 50,000,000 | 49,813,333 | ||
(b)(c) | 5.85% | 04/15/24 | 98,000,000 | 96,406,084 | ||
(b)(c) | 5.65% | 05/01/24 | 14,000,000 | 13,742,400 | ||
(b)(c) | 5.87% | 07/22/24 | 50,000,000 | 48,423,278 | ||
RIDGEFIELD FUNDING COMPANY LLC | ||||||
(b)(c) | 5.78% | 03/01/24 | 293,000,000 | 290,301,307 | ||
(b)(c) | 5.77% | 03/05/24 | 269,846,000 | 267,196,787 | ||
(b)(c) | 5.78% | 03/13/24 | 7,730,000 | 7,644,322 | ||
(b)(c) | 5.81% | 03/18/24 | 327,523,000 | 323,623,293 | ||
(b)(c) | 5.82% | 04/10/24 | 73,000,000 | 71,865,762 | ||
(b)(c) | 5.74% | 05/24/24 | 24,765,000 | 24,217,067 | ||
SHEFFIELD RECEIVABLES COMPANY LLC | ||||||
(b)(c) | 5.84% | 03/04/24 | 90,000,000 | 89,121,150 | ||
(b)(c) | 5.60% | 03/11/24 | 53,000,000 | 52,440,276 | ||
(b)(c) | 5.51% | 03/14/24 | 100,000,000 | 98,914,000 | ||
(b)(c) | 5.79% | 03/18/24 | 232,000,000 | 229,242,551 | ||
(b)(c) | 5.80% | 03/19/24 | 200,000,000 | 197,591,611 | ||
(b)(c) | 5.80% | 03/21/24 | 198,000,000 | 195,553,765 | ||
(b)(c) | 5.80% | 03/22/24 | 100,000,000 | 98,748,889 | ||
(b)(c) | 5.84% | 04/02/24 | 360,000,000 | 354,840,300 | ||
STARBIRD FUNDING CORP | ||||||
(b)(c) | 5.76% | 02/01/24 | 147,000,000 | 146,314,000 | ||
(b)(c) | 5.82% | 02/28/24 | 48,000,000 | 47,570,600 | ||
(SOFR + 0.35%) | (a)(b)(c) | 5.75% | 01/02/24 | 03/13/24 | 100,000,000 | 100,000,000 |
(b)(c) | 5.78% | 03/14/24 | 150,000,000 | 148,314,000 | ||
(b)(c) | 5.85% | 04/16/24 | 250,000,000 | 245,865,625 | ||
(b)(c) | 5.67% | 04/19/24 | 100,000,000 | 98,338,000 | ||
(b)(c) | 5.77% | 05/07/24 | 301,000,000 | 295,089,865 | ||
(b)(c) | 5.59% | 05/10/24 | 40,000,000 | 39,217,400 | ||
(b)(c) | 5.64% | 06/03/24 | 13,500,000 | 13,185,585 | ||
(b)(c) | 5.60% | 06/05/24 | 50,000,000 | 48,826,736 | ||
(b)(c) | 5.61% | 06/14/24 | 100,000,000 | 97,517,222 | ||
THUNDER BAY FUNDING LLC | (b)(c) | 5.96% | 04/02/24 | 60,000,000 | 59,135,500 | |
VERSAILLES COMMERCIAL PAPER LLC | (b)(c) | 5.51% | 04/09/24 | 45,000,000 | 44,336,050 | |
VICTORY RECEIVABLES CORP | ||||||
(b)(c) | 5.34% | 01/02/24 | 98,000,000 | 98,000,000 | ||
(b)(c) | 5.77% | 01/29/24 | 65,000,000 | 64,726,512 | ||
(b)(c) | 5.61% | 02/16/24 | 49,000,000 | 48,661,287 | ||
(b)(c) | 5.79% | 02/20/24 | 122,000,000 | 121,066,768 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(b)(c) | 5.77% | 02/26/24 | 193,000,000 | 191,345,829 | ||
(b)(c) | 5.58% | 02/29/24 | 85,000,000 | 84,246,806 | ||
(b)(c) | 5.54% | 03/11/24 | 87,947,000 | 87,026,635 | ||
(b)(c) | 5.82% | 04/11/24 | 150,000,000 | 147,645,833 | ||
(b)(c) | 5.82% | 04/12/24 | 150,000,000 | 147,622,292 | ||
Total Asset-Backed Commercial Paper (Cost $14,292,878,869) | 14,292,878,869 | |||||
FINANCIAL COMPANY COMMERCIAL PAPER 14.3% OF NET ASSETS | ||||||
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD | ||||||
(c) | 5.75% | 04/02/24 | 300,000,000 | 295,768,500 | ||
(c) | 5.79% | 04/11/24 | 125,000,000 | 123,048,611 | ||
(c) | 5.66% | 05/16/24 | 185,000,000 | 181,184,375 | ||
(c) | 5.66% | 05/17/24 | 98,000,000 | 95,963,778 | ||
BANK OF MONTREAL | ||||||
(c) | 5.77% | 01/10/24 | 250,000,000 | 249,688,889 | ||
(c) | 5.75% | 01/23/24 | 950,000,000 | 946,907,750 | ||
(c) | 5.78% | 02/01/24 | 745,000,000 | 741,510,917 | ||
(SOFR + 0.40%) | (a)(c) | 5.80% | 01/02/24 | 02/28/24 | 220,000,000 | 220,000,000 |
(c) | 5.79% | 03/13/24 | 250,000,000 | 247,224,097 | ||
(c) | 5.80% | 04/11/24 | 245,000,000 | 241,168,472 | ||
(c) | 5.82% | 05/09/24 | 584,000,000 | 572,268,089 | ||
(c) | 5.74% | 05/16/24 | 300,000,000 | 293,733,750 | ||
(c) | 5.65% | 06/12/24 | 244,000,000 | 237,982,960 | ||
BANK OF NOVA SCOTIA | (c) | 5.93% | 04/12/24 | 249,000,000 | 245,039,033 | |
BARCLAYS BANK UK PLC | ||||||
(c) | 5.33% | 01/03/24 | 514,000,000 | 513,924,042 | ||
(c) | 5.33% | 01/04/24 | 318,000,000 | 317,906,013 | ||
BOFA SECURITIES INC | ||||||
(c) | 5.82% | 02/15/24 | 588,000,000 | 583,939,533 | ||
(c) | 5.96% | 04/19/24 | 245,000,000 | 240,810,500 | ||
(SOFR + 0.54%) | (a)(c) | 5.94% | 01/02/24 | 04/22/24 | 240,000,000 | 240,000,000 |
(c) | 5.87% | 04/30/24 | 289,000,000 | 283,564,311 | ||
(c) | 5.91% | 05/10/24 | 700,000,000 | 685,802,833 | ||
(SOFR + 0.52%) | (a)(c) | 5.92% | 01/02/24 | 05/13/24 | 480,000,000 | 480,000,000 |
(c) | 5.62% | 06/04/24 | 500,000,000 | 488,321,667 | ||
(c) | 5.63% | 09/04/24 | 58,000,000 | 55,859,800 | ||
BPCE SA | ||||||
(c) | 5.83% | 02/15/24 | 480,000,000 | 476,679,467 | ||
(c) | 5.85% | 04/02/24 | 700,000,000 | 689,967,250 | ||
(c) | 5.87% | 04/02/24 | 395,000,000 | 389,328,678 | ||
(c) | 5.83% | 04/05/24 | 81,000,000 | 79,800,795 | ||
(c) | 5.83% | 04/12/24 | 140,000,000 | 137,776,878 | ||
(c) | 5.86% | 04/18/24 | 488,000,000 | 479,746,971 | ||
(c) | 5.86% | 05/02/24 | 493,000,000 | 483,588,082 | ||
(c) | 5.83% | 05/06/24 | 679,000,000 | 665,655,764 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(c) | 5.65% | 05/08/24 | 58,000,000 | 56,872,593 | ||
(c) | 5.79% | 05/13/24 | 49,000,000 | 47,988,477 | ||
CITIGROUP GLOBAL MARKETS INC | ||||||
(c) | 5.79% | 03/22/24 | 292,000,000 | 288,346,756 | ||
(c) | 5.80% | 03/27/24 | 489,000,000 | 482,499,696 | ||
(c) | 5.85% | 04/04/24 | 540,000,000 | 532,090,350 | ||
(c) | 5.85% | 04/05/24 | 477,000,000 | 469,938,015 | ||
(c) | 5.61% | 06/06/24 | 597,000,000 | 582,900,850 | ||
DNB BANK ASA | ||||||
(c) | 5.78% | 04/02/24 | 500,000,000 | 492,915,903 | ||
(c) | 5.80% | 04/18/24 | 343,000,000 | 337,255,274 | ||
FEDERATION DES CAISSES DESJARDINS DU QUEBEC | ||||||
(c) | 5.75% | 01/12/24 | 200,000,000 | 199,689,444 | ||
(c) | 5.77% | 01/18/24 | 240,000,000 | 239,402,667 | ||
(c) | 5.77% | 01/19/24 | 250,000,000 | 249,338,889 | ||
(c) | 5.74% | 02/14/24 | 370,000,000 | 367,533,950 | ||
(c) | 5.74% | 02/15/24 | 200,000,000 | 198,636,000 | ||
(c) | 5.77% | 03/07/24 | 196,000,000 | 194,014,683 | ||
(c) | 5.78% | 03/08/24 | 86,000,000 | 85,113,913 | ||
(c) | 5.77% | 03/11/24 | 168,000,000 | 166,193,580 | ||
(c) | 5.75% | 05/09/24 | 122,500,000 | 120,065,244 | ||
ING US FUNDING LLC | ||||||
(b) | 5.79% | 03/01/24 | 402,500,000 | 398,792,751 | ||
(b)(c) | 5.79% | 03/01/24 | 75,000,000 | 74,309,208 | ||
JP MORGAN SECURITIES LLC | ||||||
(c) | 5.97% | 04/22/24 | 148,000,000 | 148,000,000 | ||
(c) | 5.93% | 07/11/24 | 273,000,000 | 273,000,000 | ||
(c) | 5.55% | 07/15/24 | 316,000,000 | 316,000,000 | ||
(c) | 5.93% | 07/15/24 | 274,000,000 | 274,000,000 | ||
MIZUHO BANK LTD (SINGAPORE BRANCH) | ||||||
(c) | 5.67% | 01/10/24 | 300,000,000 | 299,628,333 | ||
(c) | 5.49% | 04/09/24 | 98,500,000 | 97,050,709 | ||
MUFG BANK LTD (NEW YORK BRANCH) | 5.36% | 01/02/24 | 159,000,000 | 159,000,000 | ||
NATIONAL BANK OF CANADA | ||||||
(c) | 5.71% | 01/16/24 | 300,000,000 | 299,352,500 | ||
(c) | 5.78% | 02/01/24 | 475,000,000 | 472,779,375 | ||
(c) | 5.78% | 02/02/24 | 500,000,000 | 497,584,583 | ||
(SOFR + 0.38%) | (a)(c) | 5.78% | 01/02/24 | 03/01/24 | 730,000,000 | 730,000,000 |
(c) | 5.80% | 04/01/24 | 342,000,000 | 337,194,900 | ||
NORDEA BANK ABP | ||||||
(SOFR + 0.34%) | (a)(c) | 5.74% | 01/02/24 | 02/21/24 | 175,000,000 | 174,999,776 |
OVERSEA-CHINESE BANKING CORPORATION LTD | ||||||
(c) | 5.61% | 03/07/24 | 90,000,000 | 89,103,000 | ||
(c) | 5.70% | 03/11/24 | 250,000,000 | 247,321,458 | ||
(c) | 5.70% | 03/12/24 | 250,000,000 | 247,282,639 | ||
(c) | 5.60% | 03/14/24 | 98,000,000 | 96,920,040 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(c) | 5.60% | 03/15/24 | 195,000,000 | 192,821,254 | ||
(c) | 5.83% | 04/09/24 | 300,000,000 | 295,377,667 | ||
(c) | 5.77% | 05/14/24 | 294,000,000 | 287,917,467 | ||
ROYAL BANK OF CANADA | ||||||
(c) | 5.60% | 05/29/24 | 500,000,000 | 488,797,222 | ||
(SOFR + 0.64%) | (a)(c) | 6.04% | 01/02/24 | 07/05/24 | 490,000,000 | 490,000,000 |
SANTANDER UK PLC | 5.53% | 03/07/24 | 500,000,000 | 495,079,861 | ||
SKANDINAVISKA ENSKILDA BANKEN AB | ||||||
(SOFR + 0.38%) | (a)(c) | 5.77% | 01/02/24 | 03/04/24 | 244,000,000 | 244,000,000 |
(SOFR + 0.35%) | (a)(c) | 5.74% | 01/02/24 | 04/05/24 | 489,000,000 | 489,000,000 |
(c) | 5.79% | 04/10/24 | 250,000,000 | 246,136,250 | ||
(SOFR + 0.51%) | (a)(c) | 5.90% | 01/02/24 | 04/24/24 | 293,000,000 | 293,000,000 |
(SOFR + 0.51%) | (a)(c) | 5.90% | 01/02/24 | 04/25/24 | 250,000,000 | 250,000,000 |
(c) | 5.87% | 04/29/24 | 196,000,000 | 192,389,462 | ||
(c) | 5.88% | 04/29/24 | 293,000,000 | 287,593,011 | ||
(c) | 5.75% | 05/06/24 | 490,000,000 | 480,489,236 | ||
(SOFR + 0.48%) | (a)(c) | 5.87% | 01/02/24 | 05/10/24 | 235,000,000 | 235,000,000 |
(c) | 5.75% | 05/13/24 | 300,000,000 | 293,851,000 | ||
(c) | 5.87% | 07/03/24 | 489,000,000 | 474,980,370 | ||
(c) | 5.79% | 08/08/24 | 140,000,000 | 135,273,250 | ||
SVENSKA HANDELSBANKEN AB | ||||||
(c) | 5.76% | 01/18/24 | 100,000,000 | 99,751,111 | ||
(c) | 5.76% | 01/23/24 | 389,000,000 | 387,729,267 | ||
(c) | 5.77% | 02/01/24 | 500,000,000 | 497,666,667 | ||
(c) | 5.74% | 02/14/24 | 477,000,000 | 473,820,795 | ||
(c) | 5.67% | 05/28/24 | 62,000,000 | 60,605,052 | ||
(c) | 5.69% | 06/27/24 | 500,000,000 | 486,479,167 | ||
SWEDBANK AB | ||||||
5.76% | 02/05/24 | 91,000,000 | 90,518,711 | |||
5.81% | 03/14/24 | 78,000,000 | 77,120,160 | |||
5.76% | 05/10/24 | 190,000,000 | 186,190,738 | |||
5.74% | 05/16/24 | 147,000,000 | 143,929,538 | |||
5.68% | 05/20/24 | 500,000,000 | 489,343,333 | |||
TORONTO-DOMINION BANK/THE | ||||||
(SOFR + 0.58%) | (a)(c) | 5.97% | 01/02/24 | 01/09/24 | 276,000,000 | 276,000,000 |
(c) | 5.55% | 09/05/24 | 500,000,000 | 481,732,292 | ||
UBS AG (LONDON BRANCH) | ||||||
(c) | 5.66% | 01/03/24 | 200,000,000 | 199,969,111 | ||
(SOFR + 0.46%) | (a)(c) | 5.85% | 01/02/24 | 01/05/24 | 300,000,000 | 300,000,000 |
(SOFR + 0.47%) | (a)(c) | 5.86% | 01/02/24 | 01/10/24 | 500,000,000 | 500,000,000 |
(SOFR + 0.45%) | (a)(c) | 5.84% | 01/02/24 | 02/09/24 | 288,000,000 | 288,000,000 |
(c) | 5.90% | 02/16/24 | 500,000,000 | 496,425,000 | ||
(c) | 5.89% | 02/22/24 | 300,000,000 | 297,573,250 | ||
(SOFR + 0.43%) | (a)(c) | 5.82% | 01/02/24 | 02/23/24 | 240,000,000 | 240,000,000 |
(SOFR + 0.43%) | (a)(c) | 5.82% | 01/02/24 | 02/26/24 | 250,000,000 | 250,000,000 |
(SOFR + 0.42%) | (a)(c) | 5.81% | 01/02/24 | 02/28/24 | 490,000,000 | 490,000,000 |
(c) | 5.79% | 03/20/24 | 200,000,000 | 197,560,333 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(c) | 5.84% | 04/04/24 | 300,000,000 | 295,605,750 | ||
(c) | 5.84% | 04/05/24 | 190,000,000 | 187,187,050 | ||
(c) | 5.81% | 04/10/24 | 300,000,000 | 295,344,525 | ||
(c) | 5.84% | 04/19/24 | 150,000,000 | 147,448,500 | ||
(c) | 5.84% | 05/02/24 | 65,000,000 | 63,763,447 | ||
(c) | 5.82% | 05/13/24 | 185,000,000 | 181,167,417 | ||
(c) | 5.78% | 05/14/24 | 450,000,000 | 440,673,375 | ||
(c) | 5.65% | 06/17/24 | 370,000,000 | 360,594,189 | ||
UNITED OVERSEAS BANK LTD | ||||||
(SOFR + 0.34%) | (a)(c) | 5.73% | 01/02/24 | 02/28/24 | 261,000,000 | 260,996,548 |
(c) | 5.58% | 03/12/24 | 100,000,000 | 98,932,500 | ||
(c) | 5.57% | 03/13/24 | 300,000,000 | 296,757,667 | ||
(c) | 5.68% | 05/21/24 | 25,000,000 | 24,462,847 | ||
(c) | 5.69% | 05/23/24 | 100,000,000 | 97,820,694 | ||
Total Financial Company Commercial Paper (Cost $37,960,152,445) | 37,960,152,445 | |||||
NON-FINANCIAL COMPANY COMMERCIAL PAPER 0.1% OF NET ASSETS | ||||||
EQUINOR ASA | ||||||
(c) | 5.35% | 01/04/24 | 134,500,000 | 134,460,098 | ||
UNITEDHEALTH GROUP INC | ||||||
(c) | 5.31% | 01/02/24 | 98,000,000 | 98,000,000 | ||
Total Non-Financial Company Commercial Paper (Cost $232,460,098) | 232,460,098 | |||||
NON-NEGOTIABLE TIME DEPOSITS 8.6% OF NET ASSETS | ||||||
ABN AMRO BANK NV | ||||||
5.33% | 01/04/24 | 294,000,000 | 294,000,000 | |||
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH) | ||||||
5.31% | 01/02/24 | 587,000,000 | 587,000,000 | |||
5.32% | 01/03/24 | 1,468,000,000 | 1,468,000,000 | |||
5.32% | 01/04/24 | 1,957,000,000 | 1,957,000,000 | |||
5.32% | 01/05/24 | 2,936,000,000 | 2,936,000,000 | |||
BANCO SANTANDER SA (NEW YORK BRANCH) | ||||||
5.33% | 01/02/24 | 1,281,000,000 | 1,281,000,000 | |||
5.33% | 01/04/24 | 1,336,000,000 | 1,336,000,000 | |||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
5.31% | 01/02/24 | 1,909,000,000 | 1,909,000,000 | |||
CREDIT INDUSTRIEL ET COMMERCIAL | ||||||
5.33% | 01/03/24 | 489,000,000 | 489,000,000 | |||
5.33% | 01/04/24 | 489,000,000 | 489,000,000 | |||
5.33% | 01/05/24 | 440,000,000 | 440,000,000 | |||
DBS BANK LTD | ||||||
5.34% | 01/03/24 | 685,000,000 | 685,000,000 | |||
5.34% | 01/04/24 | 294,000,000 | 294,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
LANDESBANK HESSEN THUERINGEN GIROZENTRALE (NEW YORK BRANCH) | ||||||
5.33% | 01/02/24 | 391,000,000 | 391,000,000 | |||
5.33% | 01/03/24 | 245,000,000 | 245,000,000 | |||
ROYAL BANK OF CANADA | ||||||
5.32% | 01/03/24 | 2,955,000,000 | 2,955,000,000 | |||
5.32% | 01/04/24 | 998,000,000 | 998,000,000 | |||
SANTANDER UK PLC | ||||||
5.31% | 01/03/24 | 744,000,000 | 744,000,000 | |||
5.31% | 01/04/24 | 478,000,000 | 478,000,000 | |||
5.31% | 01/05/24 | 904,000,000 | 904,000,000 | |||
SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH) | ||||||
5.31% | 01/02/24 | 294,000,000 | 294,000,000 | |||
TORONTO-DOMINION BANK/THE | ||||||
5.32% | 01/04/24 | 489,000,000 | 489,000,000 | |||
5.32% | 01/05/24 | 979,000,000 | 979,000,000 | |||
UBS AG (CAYMAN ISLANDS BRANCH) | ||||||
5.31% | 01/02/24 | 297,000,000 | 297,000,000 | |||
Total Non-Negotiable Time Deposits (Cost $22,939,000,000) | 22,939,000,000 | |||||
VARIABLE RATE DEMAND NOTES 0.5% OF NET ASSETS | ||||||
ABAG FINANCE AUTH | ||||||
TAXABLE RB (PUBLIC POLICY INSTITUTE OF CALIFORNIA) SERIES 2001B (LOC: WELLS FARGO BANK NA) | (d) | 5.40% | 01/05/24 | 17,550,000 | 17,550,000 | |
BLUE MOUNTAIN ENTERPRISES, LLC | ||||||
VARIABLE RATE DEMAND BONDS SERIES 2013 (LOC: WELLS FARGO BANK NA) | (d) | 5.48% | 01/05/24 | 2,370,000 | 2,370,000 | |
CELLMARK, INC | ||||||
TAXABLE NOTES SERIES 2018A (LOC: SWEDBANK AB) | (d) | 5.45% | 01/05/24 | 106,000,000 | 106,000,000 | |
COLORADO HOUSING & FINANCE AUTH | ||||||
S/F MORTGAGE CLASS I BONDS SERIES 2019L2 (LIQ: BANK OF AMERICA NA) | (d) | 5.37% | 01/05/24 | 3,885,000 | 3,885,000 | |
S/F MORTGAGE CLASS I BONDS SERIES 2023N2 (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 21,000,000 | 21,000,000 | |
S/F MORTGAGE CLASS II RB SERIES 2023F2 (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 24,560,000 | 24,560,000 | |
CYNTHIA REESE ISSUING TRUST | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2023 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.45% | 01/05/24 | 27,830,000 | 27,830,000 | |
EAGLE CNTY | ||||||
RB (BC HOUSING) SERIES 1997B (LOC: WELLS FARGO BANK NA) | (d) | 5.56% | 01/05/24 | 1,500,000 | 1,500,000 | |
RB (TARNES AT BC) SERIES 1999B (LOC: WELLS FARGO BANK NA) | (d) | 5.56% | 01/05/24 | 2,410,000 | 2,410,000 | |
FIORE CAPITAL | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2005A (LOC: WELLS FARGO BANK NA) | (d) | 5.45% | 01/05/24 | 8,075,000 | 8,075,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
GREYSHOE ISSUING TRUST | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.45% | 01/05/24 | 31,640,000 | 31,640,000 | |
HARTFORD HEALTHCARE CORP | ||||||
TAXABLE BONDS SERIES C (LOC: JPMORGAN CHASE BANK NA) | (d) | 5.35% | 01/05/24 | 49,000,000 | 49,000,000 | |
ILLINOIS HOUSING DEVELOPMENT AUTH | ||||||
HOUSING BONDS SERIES 2017A2 (LIQ: FEDERAL HOME LOAN BANKS) | (d) | 5.36% | 01/05/24 | 28,550,000 | 28,550,000 | |
TAXABLE RB SERIES 2023J (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 14,000,000 | 14,000,000 | |
ILLINOIS HSG DEV AUTH | ||||||
M/F RB SERIES 2022C (LIQ: FEDERAL HOME LOAN BANKS) | (d) | 5.35% | 01/05/24 | 11,065,000 | 11,065,000 | |
IOWA STUDENT LOAN LIQUIDITY CORP | ||||||
TAXABLE RB SERIES 20231 (LOC: ROYAL BANK OF CANADA) | (d) | 5.38% | 01/05/24 | 67,394,000 | 67,394,000 | |
JEFFERSON MENIFEE LLC | ||||||
TAXABLE VARIABLE RATE DEMAND M/F HOUSING RB (JEFFERSON MENIFEE APTS) SERIES 2022A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.46% | 01/05/24 | 6,850,000 | 6,850,000 | |
KEEP MEMORY ALIVE | ||||||
TAXABLE VARIABLE RATE DEMAND BONDS SERIES 2013 (LOC: PNC BANK NA) | (d) | 5.38% | 01/05/24 | 30,350,000 | 30,350,000 | |
LABCON NORTH AMERICA | ||||||
TAXABLE BONDS SERIES 2010 (LOC: BANK OF MONTREAL) | (d) | 5.50% | 01/05/24 | 960,000 | 960,000 | |
MACON-BIBB CNTY INDUSTRIAL AUTH | ||||||
IDRB SERIES 2015 (LOC: BANK OF AMERICA NA) | (d) | 5.38% | 01/05/24 | 3,420,000 | 3,420,000 | |
MOUNTAIN BANYAN QUALIFIED OPPORTUNITY ZONE BUSINESS LLC | ||||||
TAXABLE M/F HOUSING RB SERIES 2023A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.46% | 01/05/24 | 44,000,000 | 44,000,000 | |
NEW YORK STATE HFA | ||||||
TAXABLE HOUSING RB (29 FLATBUSH AVE) SERIES 2015B (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (d) | 5.35% | 01/05/24 | 17,210,000 | 17,210,000 | |
NORTH TEXAS HIGHER EDUCATION AUTH INC | ||||||
TAXABLE NOTES SERIES 2023-1 (LOC: ROYAL BANK OF CANADA) | (d) | 5.38% | 01/05/24 | 59,000,000 | 59,000,000 | |
NUVEEN CREDIT STRATEGIES INCOME FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SOCIETE GENERALE SA) | (c)(d) | 5.53% | 01/05/24 | 61,000,000 | 61,000,000 | |
NUVEEN FLOATING RATE INCOME FUND | ||||||
VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (c)(d) | 5.53% | 01/05/24 | 65,000,000 | 65,000,000 | |
VARIABLE RATE DEMAND PREFERRED SHARES SERIES C (LOC: BARCLAYS BANK PLC) | (c)(d) | 5.53% | 01/05/24 | 42,000,000 | 42,000,000 | |
NUVEEN PREFERRED & INCOME OPPORTUNITIES FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (c)(d) | 5.50% | 01/05/24 | 36,000,000 | 36,000,000 | |
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES B (LOC: BARCLAYS BANK PLC) | (c)(d) | 5.53% | 01/04/24 | 97,000,000 | 97,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
NUVEEN VARIABLE RATE PREFERRED & INCOME FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: TORONTO-DOMINION BANK/THE) | (c)(d) | 5.57% | 01/05/24 | 20,000,000 | 20,000,000 | |
OLATHE | ||||||
TAXABLE IDRB (DIAMANT BOART) SERIES 1997B (LOC: SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH)) | (d) | 5.41% | 01/05/24 | 8,900,000 | 8,900,000 | |
RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP | ||||||
HOMEOWNERSHIP OPPORTUNITY BONDS SERIES 79T2 (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 15,000,000 | 15,000,000 | |
SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT | ||||||
SUB WATER REFUNDING RB SERIES 2021A (LIQ: BANK OF AMERICA NA) | (d) | 5.36% | 01/05/24 | 89,215,000 | 89,215,000 | |
TAXABLE WATER REFUNDING RB SERIES 2022C2 (LIQ: PNC BANK NA) | (d) | 5.33% | 01/05/24 | 118,850,000 | 118,850,000 | |
SRMHAYWARD LLC | ||||||
TAXABLE VARIABLE RATE DEMAND RB (BELLARA SR LIVING) SERIES 2022A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.46% | 01/05/24 | 4,990,000 | 4,990,000 | |
TENDERFOOT SEASONAL HOUSING, LLC | ||||||
TAXABLE NOTES SERIES 2000B (LOC: WELLS FARGO BANK NA) | (d) | 5.56% | 01/05/24 | 5,885,000 | 5,885,000 | |
TRIBOROUGH BRIDGE & TUNNEL AUTH | ||||||
GENERAL REFUNDING RB SERIES 2018E (LOC: UBS AG) | (d) | 5.35% | 01/05/24 | 61,970,000 | 61,970,000 | |
YAVAPAI CNTY IDA | ||||||
TAXABLE RB (DRAKE CEMENT) SERIES 2015 (LOC: BANK OF NOVA SCOTIA) | (d) | 5.40% | 01/05/24 | 25,450,000 | 25,450,000 | |
Total Variable Rate Demand Notes (Cost $1,229,879,000) | 1,229,879,000 | |||||
OTHER INSTRUMENTS 0.1% OF NET ASSETS | ||||||
BANK OF AMERICA NA | ||||||
(SOFR + 0.60%) | (a) | 5.99% | 01/02/24 | 08/05/24 | 296,000,000 | 296,000,000 |
Total Other Instruments (Cost $296,000,000) | 296,000,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 42.1% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 19.2% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 395,233,928 | 395,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $406,850,000, 1.50% - 7.00%, due 11/01/30 - 12/01/53) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
BANK OF MONTREAL | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 798,473,480 | 798,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $822,427,685, 2.00% - 7.50%, due 09/01/24 - 01/01/54) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 409,423,088 | 409,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $421,705,781, 3.00% - 7.00%, due 06/15/42 - 11/15/58) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 518,307,347 | 518,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $533,856,567, 2.00% - 6.50%, due 05/20/40 - 03/15/65) | ||||||
BNP PARIBAS SA | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 1,649,354,873 | 1,644,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $1,714,010,182, 0.00% - 7.63%, due 01/25/24 - 11/20/63) | ||||||
BOFA SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 235,139,694 | 235,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $241,235,410, 2.00% - 7.63%, due 02/15/25 - 08/20/70) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 1,530,909,500 | 1,530,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,560,600,054, 0.50% - 4.38%, due 02/28/26 - 05/15/41) | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.40% | 01/02/24 | 2,842,775,550 | 2,817,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $2,893,466,521, 0.00% - 8.70%, due 02/20/24 - 05/20/73) | ||||||
Issued 10/26/23, repurchase date 01/25/24 | 5.43% | 01/05/24 | 370,930,264 | 367,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $378,010,000, 1.25% - 7.00%, due 09/25/28 - 03/20/72) | ||||||
Issued 09/28/23, repurchase date 02/28/24 | (a) | 5.47% | 01/02/24 | 01/05/24 | 408,047,085 | 402,000,000 |
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $413,838,302, 1.75% - 7.50%, due 12/15/26 - 07/20/71) (SOFR + 0.07%) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 301,178,593 | 301,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $310,030,000, 2.00% - 7.00%, due 06/01/28 - 12/20/67) | ||||||
Issued 11/30/23, repurchase date 02/29/24 | 5.34% | 01/05/24 | 98,523,320 | 98,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $100,940,000, 2.50% - 6.50%, due 05/01/44 - 08/20/69) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/14/23, repurchase date 03/21/24 | 5.34% | 01/05/24 | 785,555,190 | 783,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $806,490,001, 1.69% - 7.50%, due 06/01/28 - 12/01/53) | ||||||
Issued 11/20/23, repurchase date 01/22/24 | 5.36% | 01/05/24 | 492,349,107 | 489,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $503,670,000, 2.00% - 6.50%, due 06/01/41 - 12/01/53) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/05/23, repurchase date 01/04/24 | 5.38% | 01/04/24 | 3,439,350,933 | 3,424,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $3,547,047,470, 0.25% - 7.50%, due 05/15/24 - 04/20/70) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 1,290,765,400 | 1,290,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $1,338,815,580, 0.00% - 7.50%, due 01/16/24 - 01/01/54) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 3,852,284,333 | 3,850,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $3,965,500,966, 1.50% - 8.00%, due 01/01/25 - 01/01/59) | ||||||
GOLDMAN SACHS & CO LLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 489,505,843 | 489,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $498,780,001, 0.75% - 7.00%, due 11/30/26 - 03/15/58) | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.34% | 01/03/24 | 1,959,032,018 | 1,957,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $1,996,140,001, 0.88% - 7.50%, due 02/01/25 - 12/01/53) | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.37% | 01/04/24 | 3,399,545,990 | 3,396,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $3,463,920,001, 1.10% - 7.00%, due 07/15/24 - 11/15/63) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.34% | 01/05/24 | 4,546,716,110 | 4,542,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $4,632,840,001, 1.00% - 7.50%, due 09/20/24 - 01/20/72) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 5,628,337,500 | 5,625,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $5,793,750,001, 1.50% - 9.00%, due 11/20/26 - 02/15/66) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 476,282,427 | 476,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $490,280,001, 1.50% - 8.00%, due 10/01/25 - 01/01/57) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
NOMURA SECURITIES INTERNATIONAL INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 402,238,520 | 402,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $410,104,620, 0.00% - 5.50%, due 03/26/24 - 09/01/49) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 3,056,812,633 | 3,055,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $3,140,029,451, 0.00% - 7.50%, due 01/11/24 - 08/20/63) | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 1,349,380,964 | 1,345,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $1,392,055,101, 0.00% - 7.00%, due 01/15/24 - 11/15/53) | ||||||
ROYAL BANK OF CANADA | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 2,612,513,633 | 2,604,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $2,720,753,719, 0.25% - 6.50%, due 03/31/24 - 10/15/58) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 4,974,209,906 | 4,958,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $5,179,274,738, 0.13% - 7.00%, due 01/15/24 - 02/01/57) | ||||||
TRUIST BANK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 1,209,714,653 | 1,209,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,257,360,000, 1.00% - 1.25%, due 09/20/50 - 12/20/50) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 11/03/23, repurchase date 01/03/24 | 5.37% | 01/03/24 | 1,482,366,676 | 1,469,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,541,661,343, 1.50% - 7.50%, due 10/01/24 - 01/01/57) | ||||||
Issued 12/08/23, repurchase date 01/12/24 | 5.34% | 01/05/24 | 162,672,840 | 162,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $169,354,692, 2.00% - 7.00%, due 08/01/24 - 01/01/54) | ||||||
51,039,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 18.7% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.31% | 01/02/24 | 333,196,470 | 333,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $339,660,083, 0.25% - 4.75%, due 11/15/24 - 11/15/53) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 399,235,853 | 399,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $407,220,601, 0.38% - 2.38%, due 09/30/27 - 02/15/42) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 27,948,564 | 27,932,022 | ||
(Collateralized by U.S. Treasury Securities valued at $28,507,620, 0.00%, due 01/04/24 - 03/07/24) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/14/23, repurchase date 02/02/24 | 5.32% | 01/05/24 | 981,179,587 | 978,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,004,930,914, 0.25% - 3.88%, due 08/31/25 - 02/15/53) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 4,004,137,778 | 4,000,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $4,080,000,022, 0.13% - 5.50%, due 01/15/24 - 02/15/49) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 4,656,756,202 | 4,654,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $4,747,080,045, 0.38% - 6.63%, due 01/31/27 - 11/15/53) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.30% | 01/02/24 | 35,220,728,889 | 35,200,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $35,220,728,973, 0.13% - 4.38%, due 02/29/24 - 02/15/43) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 2,653,570,573 | 2,652,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $2,705,040,002, 0.00% - 3.88%, due 04/15/24 - 02/15/42) | ||||||
MUFG SECURITIES AMERICAS INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 1,331,791,206 | 1,331,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,357,620,048, 0.13% - 6.63%, due 01/15/24 - 11/15/53) | ||||||
49,574,932,022 | ||||||
OTHER REPURCHASE AGREEMENTS** 4.2% | ||||||
BMO CAPITAL MARKETS CORP | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.41% | 01/05/24 | 98,103,091 | 98,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities , common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $102,795,346, 0.00% - 9.50%, due 03/01/24 - 06/15/65) | ||||||
BNP PARIBAS SA | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.42% | 01/03/24 | 1,078,135,038 | 1,077,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $1,186,358,583, 0.38% - 17.70%, due 01/15/24 - 12/31/00) | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.47% | 01/03/24 | 465,494,579 | 465,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $535,318,766, 0.00% - 15.49%, due 07/15/24 - 10/25/68) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/29/23, repurchase date 01/05/24 | 5.47% | 01/05/24 | 343,364,819 | 343,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $392,251,395, 2.15% - 9.84%, due 01/09/24 - 12/31/00) | ||||||
Issued 12/06/23, repurchase date 03/05/24 | 5.63% | 02/02/24 | 198,786,899 | 197,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $229,738,691, 2.16% - 14.66%, due 07/15/26 - 12/26/67) | ||||||
Issued 12/27/23, repurchase date 03/26/24 | 5.67% | 02/02/24 | 198,148,018 | 197,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $229,761,781, 4.21% - 14.51%, due 07/15/25 - 01/25/63) | ||||||
BOFA SECURITIES INC | ||||||
Issued 12/18/23, repurchase date 04/16/24 | (a) | 5.90% | 01/02/24 | 03/28/24 | 249,055,431 | 245,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $264,600,001, 0.00%, due 06/10/50 - 12/31/00) (SOFR + 0.50%) | ||||||
Issued 12/18/23, repurchase date 04/16/24 | (a) | 5.95% | 01/02/24 | 04/02/24 | 1,460,140,403 | 1,435,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $1,650,250,000, 0.00% - 15.45%, due 06/25/24 - 07/20/17) (SOFR + 0.55%) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 10/12/23, repurchase date 01/12/24 | (a) | 5.57% | 01/02/24 | 01/05/24 | 198,577,672 | 196,000,000 |
(Collateralized by U.S. Treasury Securities, common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $199,921,512, 0.00% - 3.75%, due 05/15/41 - 12/31/00) (SOFR + 0.17%) | ||||||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.37% | 01/04/24 | 78,081,445 | 78,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $82,417,757, 0.63% - 9.02%, due 09/10/24 - 11/17/56) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.37% | 01/05/24 | 489,510,598 | 489,000,000 | ||
(Collateralized by U.S. Government Agency Securities, common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $521,713,542, 0.98% - 11.75%, due 06/19/24 - 12/31/00) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
JP MORGAN SECURITIES LLC | ||||||
Issued 11/20/23, repurchase date 01/19/24 | (a) | 5.62% | 01/02/24 | 01/05/24 | 637,545,643 | 633,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $732,320,532, 0.01% - 13.38%, due 05/25/24 - 12/31/00) (SOFR + 0.22%) | ||||||
Issued 11/08/23, repurchase date 05/06/24 | (a) | 5.85% | 01/02/24 | 03/28/24 | 1,001,431,338 | 979,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $1,135,055,389, 0.00% - 18.91%, due 03/01/24 - 12/31/00) (SOFR + 0.45%) | ||||||
Issued 12/27/23, repurchase date 06/24/24 | (a) | 5.87% | 01/02/24 | 03/28/24 | 497,350,544 | 490,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $563,682,826, 0.43% - 18.86%, due 02/20/24 - 12/31/00) (SOFR + 0.47%) | ||||||
Issued 10/25/23, repurchase date 05/02/24 | (a) | 5.88% | 01/02/24 | 03/28/24 | 308,620,317 | 301,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $349,775,442, 0.00% - 11.50%, due 04/17/24 - 12/31/00) (SOFR + 0.48%) | ||||||
Issued 10/05/23, repurchase date 04/02/24 | (a) | 5.90% | 01/02/24 | 03/28/24 | 1,510,103,056 | 1,468,000,000 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $1,711,391,180, 0.54% - 21.61%, due 02/15/24 - 12/31/00) (SOFR + 0.50%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.42% | 01/02/24 | 122,073,471 | 122,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $131,760,003, 0.00%, due 12/31/00) | ||||||
RBC CAPITAL MARKETS LLC | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.42% | 01/04/24 | 783,825,195 | 783,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities, common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $822,750,104, 0.00% - 9.24%, due 01/15/24 - 12/31/00) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 12/07/23, repurchase date 03/07/24 | 5.72% | 03/07/24 | 248,542,428 | 245,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $285,823,792, 0.62% - 9.48%, due 02/18/25 - 06/25/67) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 11/22/23, repurchase date 03/21/24 | 5.78% | 03/21/24 | 298,645,133 | 293,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $343,441,904, 0.34% - 9.48%, due 08/15/24 - 11/17/40) | ||||||
Issued 12/05/23, repurchase date 06/03/24 | 5.99% | 04/02/24 | 314,098,486 | 308,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $364,867,225, 0.00% - 14.37%, due 07/22/24 - 04/25/69) | ||||||
Issued 10/11/23, repurchase date 04/08/24 | 6.05% | 04/02/24 | 226,433,167 | 220,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $260,653,251, 0.00% - 14.37%, due 01/15/25 - 02/25/67) | ||||||
Issued 12/27/23, repurchase date 06/21/24 | 5.85% | 06/21/24 | 603,883,588 | 587,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $634,078,431, 0.63% - 9.25%, due 01/16/24 - 12/31/00) | ||||||
11,249,000,000 | ||||||
Total Repurchase Agreements (Cost $111,862,932,022) | 111,862,932,022 | |||||
Total Investments in Securities (Cost $254,307,419,066) | 254,307,419,066 |
* | 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 $49,246,349,846 or 18.6% 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. |
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. |
ETF — | Exchange-traded fund |
FICC — | Fixed Income Clearing Corp |
HFA — | Housing finance agency/authority |
IDA — | Industrial development agency/authority |
IDRB — | Industrial development revenue bond |
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. |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $142,444,487,044 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 111,862,932,022 | |
Cash | 9,192,359,305 | |
Receivables: | ||
Fund shares sold | 2,226,322,841 | |
Interest | 965,153,494 | |
Prepaid expenses | + | 4,155,477 |
Total assets | 266,695,410,183 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 835,600,120 | |
Distributions to shareholders | 386,912,858 | |
Investment adviser and administrator fees | 37,314,627 | |
Investments bought | 11,840,000 | |
Shareholder service fees | 3,645,500 | |
Independent trustees’ fees | 831 | |
Accrued expenses | + | 14,882,129 |
Total liabilities | 1,290,196,065 | |
Net assets | $265,405,214,118 | |
Net Assets by Source | ||
Capital received from investors | $265,403,854,757 | |
Total distributable earnings | + | 1,359,361 |
Net assets | $265,405,214,118 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $169,906,368,263 | 169,903,778,343 | $1.00 | ||
Ultra Shares | $95,498,845,855 | 95,497,150,419 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $11,388,742,174 | |
Expenses | ||
Investment adviser and administrator fees | 408,297,205 | |
Shareholder service fees: | ||
Investor Shares | 198,333,028 | |
Registration fees | 22,679,837 | |
Portfolio accounting fees | 1,574,974 | |
Custodian fees | 1,508,083 | |
Shareholder reports | 1,453,826 | |
Professional fees | 423,908 | |
Independent trustees’ fees | 253,787 | |
Transfer agent fees | 1,334 | |
Other expenses | + | 1,068,934 |
Total expenses | 635,594,916 | |
Expense reduction | – | 28,964,513 |
Net expenses | – | 606,630,403 |
Net investment income | 10,782,111,771 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 263,029 | |
Increase in net assets resulting from operations | $10,782,374,800 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $10,782,111,771 | $1,932,180,048 | |
Net realized gains | + | 263,029 | 19,783 |
Increase in net assets from operations | $10,782,374,800 | $1,932,199,831 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($6,570,789,959 ) | ($1,086,735,284 ) | |
Ultra Shares | + | (4,210,185,687 ) | (845,462,963 ) |
Total distributions | ($10,780,975,646 ) | ($1,932,198,247 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 221,635,316,442 | 101,563,715,487 | |
Ultra Shares | + | 137,943,618,156 | 87,751,606,766 |
Total shares sold | 359,578,934,598 | 189,315,322,253 | |
Shares Reinvested | |||
Investor Shares | 5,041,927,370 | 820,693,630 | |
Ultra Shares | + | 3,322,798,144 | 662,088,854 |
Total shares reinvested | 8,364,725,514 | 1,482,782,484 | |
Shares Redeemed | |||
Investor Shares | (151,061,896,319 ) | (50,339,619,587 ) | |
Ultra Shares | + | (114,832,941,050 ) | (52,426,771,227 ) |
Total shares redeemed | (265,894,837,369 ) | (102,766,390,814 ) | |
Net transactions in fund shares | 102,048,822,743 | 88,031,713,923 | |
NET ASSETS | |||
Beginning of period | $163,354,992,221 | $75,323,276,714 | |
Total increase | + | 102,050,221,897 | 88,031,715,507 |
End of period | $265,405,214,118 | $163,354,992,221 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS | |
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 |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
SHAREHOLDER SERVICING FEE | |
Investor Shares | 0.15 % |
Ultra Shares | n/a |
Investor Shares | 0.34 % |
Ultra Shares | 0.19 % |
5. Board of Trustees:
6. Borrowing from Banks:
7. Federal Income Taxes:
UNDISTRIBUTED ORDINARY INCOME | TOTAL |
$1,359,361 | $1,359,361 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | ORDINARY INCOME | |
$10,780,975,646 | $1,932,198,247 |
8. Subsequent Events:
Denver, Colorado
February 16, 2024
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 |
Michael J. Beer 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 2022) | Retired. Director, President and Chief Executive Officer (Dec. 2016 – Sept. 2019), Principal Funds (investment management). | 106 | Director (2016 – 2019), Principal Funds, Inc. |
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. | 106 | 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. | 106 | 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. | 106 | 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). | 106 | None |
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). | 106 | 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). | 106 | 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.; Co-Chairman of the Board (July 2022 – present) and Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Co-Chairman of the Board (July 2022 – present) and Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Co-Chairman of the Board (July 2022 – present) and 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.; Manager (Sept. 2023 – present), TD Ameritrade Holding LLC; Director (Oct. 2020 – Aug. 2023), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 106 | Director (2008 – present), The Charles Schwab Corporation |
Richard A. Wurster2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2022) | President (Oct. 2021 – present) and Executive Vice President – Schwab Asset Management Solutions (Apr. 2019 – Oct. 2021), The Charles Schwab Corporation; President, Director (Oct. 2021 – present), Executive Vice President – Schwab Asset Management Solutions (July 2019 – Oct. 2021) and Senior Vice President – Advisory (May 2016 – July 2019), Charles Schwab & Co., Inc.; President (Nov. 2021 – present), Schwab Holdings, Inc.; Director (Oct. 2021 – present) and Chief Executive Officer (Nov. 2019 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Mar. 2018 – Oct. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (July 2016 – Apr. 2018) and President (Mar. 2017 – Apr. 2018), ThomasPartners, Inc.; Chief Executive Officer (July 2016 – Apr. 2018), Windhaven Investment Management, Inc. | 106 | 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 |
Omar Aguilar 1970 Chief Executive Officer, 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), President (Oct. 2023 – present), (Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Oct. 2022 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Sept. 2023 – present), President (Oct. 2023 – present), Chief Investment Officer (June 2011 – present) and Vice President (June 2011 – Sept. 2023), Schwab Funds, Laudus Trust and Schwab ETFs. |
Mark Fischer 1970 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) | Chief Operating Officer (Dec. 2020 – present) and Treasurer and Chief Financial Officer (Jan. 2016 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present), Chief Operating Officer (Oct. 2023 – present), Managing Director (Mar. 2023 – present) and Vice President (Oct. 2013 – Mar. 2023), Charles Schwab Investment Management, Inc. |
Dana Smith 1965 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2023) | Treasurer and Chief Financial Officer (Jan. 2023 – present) and Assistant Treasurer (Dec. 2015 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Vice President (Mar. 2022 – Mar. 2023) and Director (Oct. 2015 – Mar. 2022), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Apr. 2022 – May 2022), Charles Schwab & Co., Inc. |
Patrick Cassidy 1964 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 2018) | Chief Investment Officer (Oct. 2023 – present) and Vice President (Feb. 2018 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Chief Investment Officer (Oct. 2023 – present), and Senior Vice President (Oct. 2012 – Mar. 2023), Charles Schwab Investment Management, Inc. |
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) | Managing Director (Mar. 2023 – present), Senior Vice President (Jan. 2020 – Mar. 2023) 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), Managing Director (Mar. 2023 – present) and Vice President (Sept. 2005 – Mar. 2023), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Aug. 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. |
Member SIPC®
Printed on recycled paper.
Money Fund
Money Fund
Money Fund
No Action Required – Notice Regarding Shareholder Report Delivery |
Beginning on July 24, 2024, fund shareholder reports will be streamlined to highlight key information deemed important for investors to assess and monitor their fund investments. Other information, including financial statements, will not appear in the streamlined shareholder reports but will available online and delivered free of charge upon request. |
• If you already receive the full shareholder reports, you will receive the streamlined shareholder reports in the same way that you currently receive the full shareholder reports (either in paper or electronically). |
• If you currently receive a notification when a shareholder report is available on a fund’s website, beginning July 24, 2024, you will begin to receive the streamlined shareholder report (in paper). |
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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. She has managed money market funds since 1988. |
Lynn Paschen, Senior Portfolio Manager for Schwab Asset Management, 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 for Schwab Asset Management, 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 | 34 Days |
Schwab Government Money Fund | |||
Sweep Shares | Investor Shares | Ultra Shares | |
Ticker Symbol | SWGXX | SNVXX | SGUXX |
Minimum Initial Investment1 | * | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 5.00% | 5.10% | 5.25% |
Seven-Day Yield (without waivers)2 | 4.98% | 5.08% | 5.23% |
Seven-Day Effective Yield (with waivers)2 | 5.12% | 5.23% | 5.39% |
Weighted Average Maturity2 | 49 Days |
Schwab U.S. Treasury Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SNSXX | SUTXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 5.08% | 5.23% |
Seven-Day Yield (without waivers)2 | 5.04% | 5.19% |
Seven-Day Effective Yield (with waivers)2 | 5.21% | 5.37% |
Weighted Average Maturity2 | 41 Days |
Schwab Treasury Obligations Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SNOXX | SCOXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 5.07% | 5.22% |
Seven-Day Yield (without waivers)2 | 5.04% | 5.19% |
Seven-Day Effective Yield (with waivers)2 | 5.20% | 5.36% |
EXPENSE RATIO (ANNUALIZED)1 | BEGINNING ACCOUNT VALUE AT 7/1/23 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 12/31/23 | EXPENSES PAID DURING PERIOD 7/1/23-12/31/232 | |
Schwab Government Money Fund | ||||
Sweep Shares | ||||
Actual Return | 0.44% | $1,000.00 | $1,025.10 | $2.25 |
Hypothetical 5% Return | 0.44% | $1,000.00 | $1,022.99 | $2.24 |
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,025.60 | $1.74 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,026.40 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
Schwab U.S. Treasury Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,025.60 | $1.74 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,026.40 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
Schwab Treasury Obligations Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,025.60 | $1.74 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,026.40 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 days in the period, and divided by 365 days in the fiscal year. |
Sweep Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Net realized and unrealized gains (losses) | 0.00 2 | 0.00 2 | 0.00 2 | 0.00 2 | — | |
Total from investment operations | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )2,3 | (0.00 )2 | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | — | |
Total distributions | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 4.71 % | 1.29 % | 0.02 %3 | 0.23 % | 1.65 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.44 % | 0.35 %4,5 | 0.06 %5 | 0.30 %5,6 | 0.59 % | |
Gross operating expenses | 0.45 % | 0.45 %4 | 0.45 % | 0.52 % | 0.59 % | |
Net investment income (loss) | 4.59 % | 1.21 % | 0.02 % | 0.18 % | 1.64 % | |
Net assets, end of period (x 1,000,000) | $18,265 | $20,458 | $24,159 | $20,119 | $12,450 |
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 | Ratio includes less than 0.005% of non-routine proxy expenses. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
6 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Net realized and unrealized gains (losses) | 0.00 2 | 0.00 2 | 0.00 2 | 0.00 2 | — | |
Total from investment operations | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )2,3 | (0.00 )2 | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | — | |
Total distributions | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 4.81 % | 1.36 % | 0.02 %3 | 0.30 % | 1.90 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.30 %4,5 | 0.06 %5 | 0.27 %5,6 | 0.35 % | |
Gross operating expenses | 0.35 % | 0.35 %4 | 0.35 % | 0.43 % | 0.47 % | |
Net investment income (loss) | 4.78 % | 1.59 % | 0.02 % | 0.28 % | 1.84 % | |
Net assets, end of period (x 1,000,000) | $21,646 | $10,823 | $6,782 | $11,980 | $13,436 |
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 | Ratio includes less than 0.005% of non-routine proxy expenses. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
6 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 9/24/201– 12/31/20 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.05 | 0.01 | 0.00 3 | 0.00 3 | ||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | ||
Total from investment operations | 0.05 | 0.01 | 0.00 3 | 0.00 3 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )3,4 | (0.00 )3 | ||
Distributions from net realized gains | (0.00 )3 | (0.00 )3 | (0.00 )3 | (0.00 )3 | ||
Total distributions | (0.05 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Total return | 4.97 % | 1.48 % | 0.02 %4 | 0.00 %5,6 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.18 %7,8 | 0.06 %8 | 0.13 %8,9 | ||
Gross operating expenses | 0.20 % | 0.20 %7 | 0.20 % | 0.20 %9 | ||
Net investment income (loss) | 4.92 % | 1.76 % | 0.03 % | 0.01 %9 | ||
Net assets, end of period (x 1,000,000) | $16,202 | $8,636 | $4,726 | $1,647 |
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 $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Percentage was less than 0.005%. |
7 | Ratio includes less than 0.005% of non-routine proxy expenses. |
8 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
9 | Annualized. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. GOVERNMENT AGENCY DEBT 23.4% OF NET ASSETS | ||||||
FEDERAL FARM CREDIT BANKS FUNDING CORP | ||||||
5.48% | 04/24/24 | 49,800,000 | 48,971,522 | |||
(SOFR + 0.08%) | (a) | 5.48% | 01/02/24 | 04/26/24 | 44,700,000 | 44,700,000 |
(EFFR + 0.06%) | (a) | 5.39% | 01/02/24 | 06/24/24 | 47,600,000 | 47,600,000 |
(SOFR + 0.09%) | (a) | 5.49% | 01/02/24 | 07/01/24 | 90,500,000 | 90,500,000 |
5.40% | 07/11/24 | 67,100,000 | 65,277,266 | |||
(SOFR + 0.08%) | (a) | 5.48% | 01/02/24 | 07/22/24 | 47,700,000 | 47,691,719 |
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 08/08/24 | 12,300,000 | 12,300,000 |
5.32% | 08/12/24 | 48,100,000 | 46,574,482 | |||
(EFFR + 0.08%) | (a) | 5.41% | 01/02/24 | 08/12/24 | 74,600,000 | 74,604,283 |
3.38% | 08/26/24 | 149,047,000 | 147,129,657 | |||
5.04% | 09/17/24 | 96,200,000 | 92,843,288 | |||
5.50% | 09/20/24 | 38,400,000 | 36,943,979 | |||
(SOFR + 0.18%) | (a) | 5.58% | 01/02/24 | 10/16/24 | 123,800,000 | 123,823,253 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 11/01/24 | 114,200,000 | 114,200,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 11/07/24 | 47,600,000 | 47,600,000 |
0.88% | 11/18/24 | 72,100,000 | 69,466,111 | |||
4.95% | 12/17/24 | 48,300,000 | 46,088,262 | |||
(SOFR + 0.11%) | (a) | 5.51% | 01/02/24 | 12/26/24 | 119,700,000 | 119,654,565 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 01/03/25 | 48,900,000 | 48,900,000 |
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 01/21/25 | 172,600,000 | 172,600,000 |
(SOFR + 0.17%) | (a) | 5.57% | 01/02/24 | 01/23/25 | 38,200,000 | 38,200,000 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 03/07/25 | 71,600,000 | 71,600,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 04/21/25 | 91,400,000 | 91,400,000 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 04/28/25 | 71,900,000 | 71,900,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 05/02/25 | 239,600,000 | 239,600,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 05/15/25 | 24,000,000 | 24,000,000 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 05/20/25 | 144,200,000 | 144,200,000 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 05/27/25 | 38,300,000 | 38,300,000 |
(SOFR + 0.17%) | (a) | 5.57% | 01/02/24 | 06/02/25 | 143,700,000 | 143,700,000 |
(EFFR + 0.14%) | (a) | 5.47% | 01/02/24 | 06/11/25 | 143,800,000 | 143,800,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 06/24/25 | 86,400,000 | 86,400,000 |
(3 mo. US TBILL + 0.16%) | (a) | 5.49% | 01/03/24 | 06/30/25 | 143,700,000 | 143,700,000 |
(SOFR + 0.17%) | (a) | 5.56% | 01/02/24 | 06/30/25 | 134,200,000 | 134,200,000 |
(3 mo. US TBILL + 0.18%) | (a) | 5.51% | 01/03/24 | 07/17/25 | 158,600,000 | 158,600,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 07/21/25 | 28,800,000 | 28,800,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(EFFR + 0.14%) | (a) | 5.47% | 01/02/24 | 08/20/25 | 81,700,000 | 81,700,000 |
(EFFR + 0.13%) | (a) | 5.46% | 01/02/24 | 09/15/25 | 96,200,000 | 96,200,000 |
(EFFR + 0.15%) | (a) | 5.48% | 01/02/24 | 09/26/25 | 52,800,000 | 52,800,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 10/06/25 | 132,000,000 | 131,986,629 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 10/17/25 | 96,100,000 | 96,100,000 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 10/21/25 | 192,400,000 | 192,400,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 11/14/25 | 168,200,000 | 168,200,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 11/28/25 | 18,900,000 | 18,900,000 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 12/15/25 | 14,400,000 | 14,400,000 |
FEDERAL HOME LOAN BANKS | ||||||
5.43% | 01/22/24 | 225,600,000 | 224,933,227 | |||
5.00% | 01/26/24 | 47,700,000 | 47,700,000 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 02/02/24 | 48,100,000 | 48,100,000 |
5.50% | 02/02/24 | 95,800,000 | 95,800,000 | |||
4.80% | 02/06/24 | 167,000,000 | 167,000,000 | |||
5.00% | 02/09/24 | 143,100,000 | 143,100,000 | |||
5.02% | 02/09/24 | 95,400,000 | 94,918,654 | |||
5.44% | 02/21/24 | 11,900,000 | 11,811,742 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 02/22/24 | 240,200,000 | 240,200,000 |
5.45% | 03/04/24 | 239,900,000 | 237,704,049 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 03/04/24 | 144,100,000 | 144,100,000 |
5.41% | 03/08/24 | 214,600,000 | 214,600,000 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 03/18/24 | 143,900,000 | 143,900,000 |
5.32% | 03/20/24 | 193,100,000 | 190,905,579 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 03/25/24 | 144,100,000 | 144,100,000 |
5.35% | 04/01/24 | 379,900,000 | 374,908,114 | |||
5.42% | 04/12/24 | 119,800,000 | 119,800,000 | |||
5.13% | 04/17/24 | 71,700,000 | 71,700,000 | |||
5.30% | 04/19/24 | 91,500,000 | 91,500,000 | |||
5.34% | 04/26/24 | 149,500,000 | 149,403,132 | |||
5.45% | 05/03/24 | 144,200,000 | 141,610,008 | |||
5.30% | 05/22/24 | 73,250,000 | 73,250,000 | |||
5.48% | 05/24/24 | 96,100,000 | 94,076,828 | |||
5.23% | 05/28/24 | 119,600,000 | 119,600,000 | |||
5.36% | 06/07/24 | 192,300,000 | 192,251,873 | |||
4.88% | 06/14/24 | 16,425,000 | 16,381,576 | |||
(SOFR + 0.03%) | (a) | 5.43% | 01/02/24 | 06/24/24 | 120,300,000 | 120,300,000 |
(SOFR + 0.06%) | (a) | 5.46% | 01/02/24 | 06/24/24 | 216,200,000 | 216,200,000 |
3.00% | 07/08/24 | 88,850,000 | 87,782,187 | |||
5.44% | 07/11/24 | 24,000,000 | 23,342,960 | |||
5.31% | 07/12/24 | 192,200,000 | 186,941,408 | |||
5.51% | 07/12/24 | 119,800,000 | 119,800,000 | |||
5.10% | 07/22/24 | 144,300,000 | 140,296,116 | |||
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 07/26/24 | 119,100,000 | 119,100,000 |
5.56% | 07/29/24 | 95,800,000 | 95,800,000 | |||
5.45% | 08/13/24 | 143,900,000 | 143,900,000 | |||
1.50% | 08/15/24 | 54,790,000 | 53,513,992 | |||
5.31% | 08/15/24 | 96,200,000 | 93,113,957 | |||
5.58% | 08/19/24 | 143,800,000 | 143,800,000 | |||
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 09/04/24 | 95,500,000 | 95,500,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.58% | 09/04/24 | 95,900,000 | 95,900,000 | |||
5.42% | 09/11/24 | 348,400,000 | 335,765,855 | |||
2.88% | 09/13/24 | 58,560,000 | 57,520,915 | |||
4.88% | 09/13/24 | 105,700,000 | 105,417,572 | |||
5.22% | 09/13/24 | 225,000,000 | 216,999,375 | |||
5.46% | 09/27/24 | 120,100,000 | 115,442,422 | |||
4.50% | 10/03/24 | 96,100,000 | 95,429,824 | |||
5.40% | 10/10/24 | 72,100,000 | 72,100,000 | |||
5.19% | 10/30/24 | 96,600,000 | 96,583,060 | |||
5.28% | 11/01/24 | 240,300,000 | 240,233,130 | |||
5.71% | 11/15/24 | 240,100,000 | 240,100,000 | |||
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 11/18/24 | 71,800,000 | 71,800,000 |
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 11/27/24 | 149,300,000 | 149,300,000 |
2.75% | 12/13/24 | 28,800,000 | 28,219,683 | |||
5.50% | 01/08/25 | 48,100,000 | 48,100,000 | |||
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 04/21/25 | 72,000,000 | 72,000,000 |
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 05/01/25 | 71,700,000 | 71,700,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 05/14/25 | 143,800,000 | 143,800,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 05/19/25 | 239,300,000 | 239,300,000 |
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 06/16/25 | 240,300,000 | 240,300,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 06/17/25 | 239,900,000 | 239,900,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 07/28/25 | 95,900,000 | 95,900,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 08/22/25 | 143,900,000 | 143,900,000 |
(SOFR + 0.19%) | (a) | 5.59% | 01/02/24 | 10/24/25 | 96,000,000 | 96,000,000 |
(SOFR + 0.19%) | (a) | 5.59% | 01/02/24 | 10/30/25 | 48,100,000 | 48,100,000 |
(SOFR + 0.20%) | (a) | 5.60% | 01/02/24 | 11/14/25 | 96,200,000 | 96,200,000 |
(SOFR + 0.21%) | (a) | 5.61% | 01/02/24 | 12/26/25 | 96,200,000 | 96,200,000 |
FEDERAL NATIONAL MORTGAGE ASSOCIATION | ||||||
5.20% | 04/19/24 | 96,100,000 | 96,100,000 | |||
5.17% | 05/22/24 | 73,250,000 | 73,250,000 | |||
1.75% | 07/02/24 | 66,597,000 | 65,423,756 | |||
5.66% | 08/09/24 | 133,900,000 | 133,900,000 | |||
2.63% | 09/06/24 | 83,306,000 | 81,729,722 | |||
Total U.S. Government Agency Debt (Cost $13,143,915,732) | 13,143,915,732 | |||||
U.S. TREASURY DEBT 6.3% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
5.44% | 01/11/24 | 77,000,000 | 76,896,685 | |||
5.45% | 02/06/24 | 77,200,000 | 76,798,453 | |||
5.47% | 02/13/24 | 77,000,000 | 76,517,775 | |||
2.25% | 04/30/24 | 191,800,000 | 189,897,383 | |||
2.50% | 04/30/24 | 283,800,000 | 281,130,252 | |||
0.25% | 05/15/24 | 79,800,000 | 78,332,688 | |||
0.25% | 06/15/24 | 159,800,000 | 156,212,213 | |||
1.75% | 07/31/24 | 80,000,000 | 78,312,743 | |||
3.00% | 07/31/24 | 116,700,000 | 115,113,970 | |||
0.38% | 08/15/24 | 142,100,000 | 137,894,929 | |||
0.38% | 09/15/24 | 151,300,000 | 146,306,437 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
2.13% | 09/30/24 | 129,100,000 | 126,250,211 | |||
0.63% | 10/15/24 | 86,500,000 | 83,502,646 | |||
1.50% | 10/31/24 | 12,200,000 | 11,838,674 | |||
0.75% | 11/15/24 | 177,100,000 | 170,554,828 | |||
2.25% | 11/15/24 | 43,200,000 | 42,144,295 | |||
1.50% | 11/30/24 | 152,700,000 | 148,127,565 | |||
2.25% | 12/31/24 | 86,200,000 | 84,002,076 | |||
(3 mo. US TBILL + 0.20%) | (a) | 5.53% | 01/02/24 | 01/31/25 | 425,900,000 | 426,323,226 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 04/30/25 | 303,300,000 | 303,485,745 |
(3 mo. US TBILL + 0.13%) | (a) | 5.46% | 01/02/24 | 07/31/25 | 362,300,000 | 362,101,596 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 10/31/25 | 324,800,000 | 324,431,774 |
Total U.S. Treasury Debt (Cost $3,496,176,164) | 3,496,176,164 | |||||
VARIABLE RATE DEMAND NOTES 0.3% OF NET ASSETS | ||||||
BRIDGE WF II PARKWAY CLUB LLC | ||||||
TAXABLE M/F HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.46% | 01/05/24 | 56,900,000 | 56,900,000 | |
FARR LIFE LLC | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.45% | 01/05/24 | 5,000,000 | 5,000,000 | |
GINA RISTOW BELLING 2022 | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.45% | 01/05/24 | 20,310,000 | 20,310,000 | |
RIVERSIDE HOME LENDING | ||||||
TAXABLE S/F RENTAL HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.46% | 01/05/24 | 77,300,000 | 77,300,000 | |
Total Variable Rate Demand Notes (Cost $159,510,000) | 159,510,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 68.6% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 35.6% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 83,049,154 | 83,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $85,490,000, 3.00% - 5.00%, due 02/01/29 - 02/01/50) | ||||||
BANK OF MONTREAL | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 169,100,273 | 169,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $174,173,281, 3.00% - 7.50%, due 04/20/36 - 12/20/63) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
BARCLAYS BANK PLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 87,089,997 | 87,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $89,702,697, 5.50%, due 06/20/53) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 109,064,673 | 109,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $112,336,614, 5.50%, due 06/20/53) | ||||||
BNP PARIBAS SA | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 1,340,351,649 | 1,336,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $1,383,338,342, 0.00% - 7.50%, due 02/15/24 - 10/20/63) | ||||||
BOFA SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 50,029,722 | 50,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $51,500,000, 2.50% - 6.50%, due 09/15/35 - 08/20/66) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 325,193,194 | 325,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $331,500,003, 0.88% - 6.13%, due 06/30/24 - 02/15/45) | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.40% | 01/02/24 | 605,490,000 | 600,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $617,848,395, 2.00% - 13.09%, due 10/25/26 - 12/20/71) | ||||||
Issued 10/26/23, repurchase date 01/25/24 | 5.43% | 01/05/24 | 365,876,718 | 362,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $370,616,896, 1.75% - 6.50%, due 02/28/25 - 03/20/65) | ||||||
Issued 09/28/23, repurchase date 02/28/24 | (a) | 5.47% | 01/02/24 | 01/05/24 | 87,293,655 | 86,000,000 |
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $87,826,614, 2.75% - 4.00%, due 10/31/29 - 03/25/51) (SOFR + 0.07%) | ||||||
Issued 10/16/23, repurchase date 04/16/24 | 5.61% | 04/16/24 | 494,716,918 | 481,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $494,001,492, 0.13% - 6.34%, due 10/15/24 - 01/20/73) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 64,037,973 | 64,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $65,920,001, 2.00% - 7.00%, due 04/01/47 - 12/20/62) | ||||||
Issued 11/30/23, repurchase date 02/29/24 | 5.34% | 01/05/24 | 169,902,460 | 169,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $174,070,000, 0.00% - 7.00%, due 10/01/29 - 12/20/67) | ||||||
Issued 12/04/23, repurchase date 04/04/24 | 5.34% | 01/05/24 | 641,028,373 | 638,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $657,140,001, 2.00% - 7.00%, due 07/01/35 - 12/01/53) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/13/23, repurchase date 03/13/24 | 5.34% | 01/05/24 | 484,647,835 | 483,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $497,490,000, 2.00% - 7.00%, due 03/01/41 - 12/01/53) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.34% | 01/05/24 | 193,629,823 | 193,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $198,790,000, 2.00% - 7.50%, due 02/23/32 - 12/20/67) | ||||||
Issued 11/20/23, repurchase date 01/22/24 | 5.36% | 01/05/24 | 632,301,102 | 628,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $646,840,025, 2.00% - 7.00%, due 05/01/31 - 04/20/73) | ||||||
Issued 11/20/23, repurchase date 02/20/24 | 5.37% | 01/05/24 | 63,432,285 | 63,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $64,890,000, 2.00% - 7.00%, due 06/01/41 - 12/20/67) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 271,160,793 | 271,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $281,146,020, 0.50% - 6.50%, due 05/31/26 - 01/01/54) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 945,560,700 | 945,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $973,350,000, 1.50% - 7.00%, due 04/01/32 - 09/01/62) | ||||||
GOLDMAN SACHS & CO LLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 2,406,486,804 | 2,404,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $2,452,080,001, 1.13% - 7.00%, due 02/29/24 - 11/15/64) | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 447,462,397 | 447,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $455,940,068, 0.75% - 4.00%, due 04/30/25 - 11/15/49) | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.34% | 01/03/24 | 1,446,500,392 | 1,445,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $1,473,900,658, 0.38% - 9.50%, due 06/01/25 - 08/15/63) | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.37% | 01/04/24 | 510,532,525 | 510,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $520,200,001, 0.13% - 6.50%, due 02/01/25 - 08/15/58) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.34% | 01/05/24 | 1,311,360,217 | 1,310,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,336,200,000, 1.50% - 7.00%, due 01/15/26 - 06/15/62) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 250,148,056 | 250,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $257,500,001, 1.50% - 8.50%, due 12/20/27 - 11/20/63) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 1,191,706,660 | 1,191,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,226,730,001, 1.50% - 8.00%, due 02/20/25 - 12/20/63) | ||||||
Issued 09/29/23, repurchase date 04/05/24 | (a) | 5.55% | 01/02/24 | 04/02/24 | 495,821,350 | 482,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $503,321,906, 1.00% - 7.00%, due 08/25/32 - 05/16/63) (SOFR + 0.15%) | ||||||
Issued 12/19/23, repurchase date 06/26/24 | (a) | 5.55% | 01/02/24 | 04/02/24 | 442,041,563 | 435,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $448,731,286, 1.50% - 14.20%, due 02/25/28 - 01/16/62) (SOFR + 0.15%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 100,059,333 | 100,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $102,000,067, 0.13% - 4.88%, due 01/15/24 - 02/15/41) | ||||||
MUFG SECURITIES AMERICAS INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.37% | 01/02/24 | 40,023,867 | 40,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $42,000,000, 3.50% - 5.85%, due 04/15/36 - 11/20/51) | ||||||
NOMURA SECURITIES INTERNATIONAL INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 85,050,433 | 85,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $86,700,370, 0.50% - 1.50%, due 09/30/26 - 11/30/28) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 645,382,700 | 645,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $662,059,536, 0.25% - 7.50%, due 02/15/24 - 12/20/53) | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 300,977,167 | 300,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $310,885,718, 0.63% - 7.00%, due 08/31/26 - 08/15/57) | ||||||
ROYAL BANK OF CANADA | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 127,415,219 | 127,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $132,715,103, 1.48% - 7.00%, due 04/01/28 - 12/01/53) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 2,508,173,611 | 2,500,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $2,612,502,014, 0.50% - 7.00%, due 07/01/27 - 07/01/60) | ||||||
TRUIST BANK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 255,150,733 | 255,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $265,200,047, 1.00% - 1.25%, due 09/20/50 - 02/25/51) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
WELLS FARGO SECURITIES LLC | ||||||
Issued 11/03/23, repurchase date 01/03/24 | 5.37% | 01/03/24 | 302,729,750 | 300,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $314,838,940, 1.16% - 7.52%, due 09/01/24 - 10/01/53) | ||||||
Issued 12/08/23, repurchase date 01/12/24 | 5.34% | 01/05/24 | 34,141,213 | 34,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $35,543,578, 1.16%, due 03/01/28) | ||||||
20,002,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 33.0% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.31% | 01/02/24 | 70,041,300 | 70,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $71,400,081, 0.25% - 4.63%, due 01/15/25 - 02/15/52) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 84,049,653 | 84,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $85,730,656, 0.00%, due 02/29/24 - 05/16/24) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 44,443,927 | 44,417,622 | ||
(Collateralized by U.S. Treasury Securities valued at $45,332,846, 0.00%, due 02/29/24 - 04/04/24) | ||||||
BOFA SECURITIES INC | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.38% | 01/02/24 | 857,748,694 | 850,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $867,000,003, 0.13% - 5.25%, due 11/15/24 - 11/15/52) | ||||||
Issued 09/28/23, repurchase date 02/14/24 | (a) | 5.44% | 01/02/24 | 01/05/24 | 213,141,600 | 210,000,000 |
(Collateralized by U.S. Treasury Securities valued at $214,200,013, 0.13% - 4.50%, due 05/31/25 - 02/15/45) (SOFR + 0.04%) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 11/02/23, repurchase date 01/04/24 | 5.36% | 01/04/24 | 129,200,640 | 128,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $130,560,006, 0.00% - 4.75%, due 12/26/24 - 11/15/53) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 1,498,548,563 | 1,497,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,526,940,053, 0.38% - 4.13%, due 11/30/25 - 11/30/28) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 980,580,378 | 980,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $999,600,079, 1.13% - 6.63%, due 08/15/26 - 04/30/28) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.30% | 01/02/24 | 13,808,126,667 | 13,800,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $13,808,126,700, 0.13% - 4.75%, due 05/31/24 - 05/15/45) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 562,332,829 | 562,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $573,240,026, 0.63% - 2.75%, due 04/30/27 - 07/15/32) | ||||||
MUFG SECURITIES AMERICAS INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 280,166,444 | 280,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $285,600,020, 1.13% - 4.75%, due 05/15/40 - 05/15/53) | ||||||
18,505,417,622 | ||||||
Total Repurchase Agreements (Cost $38,507,417,622) | 38,507,417,622 | |||||
Total Investments in Securities (Cost $55,307,019,518) | 55,307,019,518 |
* | 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) | 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) | $16,799,601,896 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 38,507,417,622 | |
Cash | 299 | |
Receivables: | ||
Fund shares sold | 806,460,392 | |
Interest | 196,277,423 | |
Prepaid expenses | + | 1,050,472 |
Total assets | 56,310,808,104 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 125,606,676 | |
Distributions to shareholders | 60,850,279 | |
Investment adviser and administrator fees | 8,093,605 | |
Shareholder service fees | 1,224,914 | |
Independent trustees’ fees | 258 | |
Accrued expenses | + | 2,476,390 |
Total liabilities | 198,252,122 | |
Net assets | $56,112,555,982 | |
Net Assets by Source | ||
Capital received from investors | $56,112,555,982 | |
Net assets | $56,112,555,982 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Sweep Shares | $18,265,200,490 | 18,265,006,664 | $1.00 | ||
Investor Shares | $21,645,623,297 | 21,645,470,900 | $1.00 | ||
Ultra Shares | $16,201,732,195 | 16,201,717,953 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $2,397,780,691 | |
Expenses | ||
Investment adviser and administrator fees | 89,427,268 | |
Shareholder service fees: | ||
Sweep Shares | 42,716,075 | |
Investor Shares | 25,662,634 | |
Registration fees | 3,973,659 | |
Shareholder reports | 472,835 | |
Portfolio accounting fees | 349,248 | |
Custodian fees | 289,644 | |
Professional fees | 119,639 | |
Independent trustees’ fees | 87,982 | |
Transfer agent fees | 1,987 | |
Other expenses | + | 297,072 |
Total expenses | 163,398,043 | |
Expense reduction | – | 5,591,159 |
Net expenses | – | 157,806,884 |
Net investment income | 2,239,973,807 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 349,329 | |
Increase in net assets resulting from operations | $2,240,323,136 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $2,239,973,807 | $499,354,200 | |
Net realized gains | + | 349,329 | 64,512 |
Increase in net assets from operations | $2,240,323,136 | $499,418,712 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Sweep Shares | ($785,936,406 ) | ($272,902,754 ) | |
Investor Shares | (819,769,408 ) | (117,830,774 ) | |
Ultra Shares | + | (634,530,135 ) | (108,673,651 ) |
Total distributions | ($2,240,235,949 ) | ($499,407,179 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Sweep Shares | 13,219,725,414 | 10,087,499,223 | |
Investor Shares | 38,597,658,017 | 15,369,590,824 | |
Ultra Shares | + | 24,999,891,396 | 12,809,443,604 |
Total shares sold | 76,817,274,827 | 38,266,533,651 | |
Shares Reinvested | |||
Sweep Shares | 785,850,086 | 272,875,534 | |
Investor Shares | 562,813,929 | 81,862,262 | |
Ultra Shares | + | 523,896,242 | 89,554,272 |
Total shares reinvested | 1,872,560,257 | 444,292,068 | |
Shares Redeemed | |||
Sweep Shares | (16,198,762,185 ) | (14,061,257,043 ) | |
Investor Shares | (28,337,750,712 ) | (11,410,455,690 ) | |
Ultra Shares | + | (17,958,245,191 ) | (8,989,061,226 ) |
Total shares redeemed | (62,494,758,088 ) | (34,460,773,959 ) | |
Net transactions in fund shares | 16,195,076,996 | 4,250,051,760 | |
NET ASSETS | |||
Beginning of period | $39,917,391,799 | $35,667,328,506 | |
Total increase | + | 16,195,164,183 | 4,250,063,293 |
End of period | $56,112,555,982 | $39,917,391,799 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
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 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )2,3 | (0.00 )2 | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | |
Total distributions | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 4.72 % | 1.26 % | 0.02 %3 | 0.27 % | 1.84 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.28 %4,5 | 0.05 %5 | 0.23 %5,6 | 0.35 % | |
Gross operating expenses | 0.36 % | 0.35 %4 | 0.35 % | 0.45 % | 0.49 % | |
Net investment income (loss) | 4.71 % | 1.26 % | 0.02 % | 0.15 % | 1.77 % | |
Net assets, end of period (x 1,000,000) | $23,422 | $7,959 | $7,468 | $11,297 | $7,517 |
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 | Ratio includes less than 0.005% of non-routine proxy expenses. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
6 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 9/24/201– 12/31/20 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.05 | 0.01 | 0.00 3 | 0.00 3 | ||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | ||
Total from investment operations | 0.05 | 0.01 | 0.00 3 | 0.00 3 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )3,4 | (0.00 )3 | ||
Distributions from net realized gains | (0.00 )3 | (0.00 )3 | (0.00 )3 | (0.00 )3 | ||
Total distributions | (0.05 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Total return | 4.87 % | 1.38 % | 0.02 %4 | 0.00 %5,6 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.17 %7,8 | 0.05 %8 | 0.12 %8,9 | ||
Gross operating expenses | 0.21 % | 0.20 %7 | 0.20 % | 0.21 %9 | ||
Net investment income (loss) | 4.89 % | 1.58 % | 0.02 % | 0.01 %9 | ||
Net assets, end of period (x 1,000,000) | $29,519 | $6,176 | $3,850 | $2,260 |
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 $0.005 and the effect on the total return was 0.01%. |
5 | Not annualized. |
6 | Percentage was less than 0.005%. |
7 | Ratio includes less than 0.005% of non-routine proxy expenses. |
8 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
9 | Annualized. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. TREASURY DEBT 106.9% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
5.36% | 01/02/24 | 1,068,541,000 | 1,068,541,000 | |||
5.42% | 01/04/24 | 200,000,000 | 199,940,636 | |||
5.30% | 01/09/24 | 220,000,000 | 219,774,133 | |||
5.33% | 01/09/24 | 2,750,000,000 | 2,747,172,355 | |||
4.75% | 01/11/24 | 51,874,000 | 51,812,452 | |||
5.13% | 01/11/24 | 59,216,000 | 59,140,189 | |||
5.19% | 01/11/24 | 200,000,000 | 199,741,000 | |||
5.44% | 01/11/24 | 65,900,000 | 65,811,579 | |||
5.31% | 01/16/24 | 600,000,000 | 598,770,333 | |||
5.32% | 01/16/24 | 4,100,000,000 | 4,091,588,818 | |||
5.33% | 01/16/24 | 350,000,000 | 349,279,972 | |||
5.30% | 01/18/24 | 188,361,000 | 187,920,134 | |||
5.31% | 01/18/24 | 400,000,000 | 399,061,222 | |||
5.32% | 01/18/24 | 1,250,000,000 | 1,247,065,111 | |||
5.42% | 01/18/24 | 359,000,000 | 358,146,608 | |||
5.28% | 01/23/24 | 1,778,000,000 | 1,772,544,642 | |||
5.29% | 01/23/24 | 1,250,000,000 | 1,246,153,646 | |||
5.29% | 01/23/24 | 450,001,000 | 448,614,997 | |||
5.29% | 01/23/24 | 3,276,884,000 | 3,266,819,422 | |||
5.32% | 01/23/24 | 700,000,000 | 697,845,633 | |||
5.32% | 01/23/24 | 1,017,130,000 | 1,014,009,106 | |||
5.43% | 01/23/24 | 200,000,000 | 199,377,583 | |||
5.27% | 01/25/24 | 27,000 | 26,909 | |||
5.31% | 01/25/24 | 350,000,000 | 348,819,110 | |||
5.32% | 01/25/24 | 150,000,000 | 149,493,473 | |||
5.39% | 01/25/24 | 250,000,000 | 249,150,597 | |||
5.31% | 01/30/24 | 1,000,000,000 | 995,885,556 | |||
5.32% | 01/30/24 | 2,275,000,000 | 2,265,643,177 | |||
5.32% | 01/30/24 | 2,875,000,000 | 2,863,204,512 | |||
5.33% | 01/30/24 | 606,900,000 | 604,395,189 | |||
5.42% | 01/30/24 | 37,845,000 | 37,687,979 | |||
5.30% | 02/01/24 | 800,000,000 | 796,490,000 | |||
5.40% | 02/01/24 | 595,000,000 | 592,358,855 | |||
5.29% | 02/06/24 | 27,487,000 | 27,346,568 | |||
5.31% | 02/06/24 | 1,425,000,000 | 1,417,698,854 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.45% | 02/06/24 | 65,800,000 | 65,457,749 | |||
5.30% | 02/08/24 | 200,000,000 | 198,916,722 | |||
5.30% | 02/13/24 | 115,387,000 | 114,679,514 | |||
5.31% | 02/13/24 | 61,000,000 | 60,625,272 | |||
5.32% | 02/13/24 | 1,600,000,000 | 1,590,154,617 | |||
5.47% | 02/13/24 | 66,100,000 | 65,686,038 | |||
5.31% | 02/20/24 | 1,750,000,000 | 1,737,459,063 | |||
5.45% | 02/20/24 | 100,000,000 | 99,271,465 | |||
5.32% | 02/27/24 | 250,000,000 | 247,948,610 | |||
5.42% | 02/27/24 | 43,490,000 | 43,129,758 | |||
5.43% | 02/27/24 | 250,000,000 | 247,925,939 | |||
5.32% | 02/29/24 | 625,000,000 | 619,712,877 | |||
5.35% | 02/29/24 | 500,000,000 | 495,746,264 | |||
5.39% | 03/05/24 | 600,000,000 | 594,442,569 | |||
5.41% | 03/05/24 | 700,000,000 | 693,486,981 | |||
5.43% | 03/05/24 | 230,000,000 | 227,851,656 | |||
5.44% | 03/05/24 | 1,347,100,000 | 1,334,501,719 | |||
5.37% | 03/12/24 | 900,000,000 | 890,762,723 | |||
5.38% | 03/12/24 | 1,100,000,000 | 1,088,697,673 | |||
5.35% | 03/19/24 | 590,000,000 | 583,362,172 | |||
5.33% | 03/28/24 | 1,350,000,000 | 1,333,041,576 | |||
5.32% | 04/09/24 | 250,000,000 | 246,439,674 | |||
5.33% | 04/09/24 | 1,200,000,000 | 1,182,891,242 | |||
5.34% | 04/09/24 | 600,000,000 | 591,437,250 | |||
5.29% | 04/16/24 | 250,000,000 | 246,206,510 | |||
5.33% | 04/16/24 | 350,000,000 | 344,648,792 | |||
5.34% | 04/16/24 | 570,000,000 | 561,282,010 | |||
2.00% | 04/30/24 | 480,400,000 | 475,137,742 | |||
2.25% | 04/30/24 | 156,500,000 | 154,934,009 | |||
2.50% | 04/30/24 | 650,499,800 | 644,522,883 | |||
5.30% | 04/30/24 | 450,000,000 | 442,250,125 | |||
5.40% | 05/09/24 | 836,600,000 | 820,960,893 | |||
0.25% | 05/15/24 | 488,000,000 | 478,997,820 | |||
2.50% | 05/15/24 | 150,000,000 | 148,426,266 | |||
5.34% | 05/23/24 | 950,000,000 | 930,510,599 | |||
5.36% | 05/23/24 | 402,000,000 | 393,721,727 | |||
5.37% | 05/23/24 | 148,000,000 | 144,946,842 | |||
2.00% | 05/31/24 | 52,000,000 | 51,278,507 | |||
0.25% | 06/15/24 | 120,900,000 | 118,186,826 | |||
1.75% | 06/30/24 | 70,000,000 | 68,793,135 | |||
0.38% | 07/15/24 | 24,600,000 | 23,961,752 | |||
1.75% | 07/31/24 | 212,900,000 | 208,543,383 | |||
3.00% | 07/31/24 | 26,500,000 | 26,125,238 | |||
0.38% | 08/15/24 | 103,000,000 | 99,917,519 | |||
2.38% | 08/15/24 | 103,000,000 | 101,160,465 | |||
1.50% | 10/31/24 | 11,800,000 | 11,450,521 | |||
4.38% | 10/31/24 | 80,000,000 | 79,612,909 | |||
(3 mo. US TBILL + 0.14%) | (a) | 5.47% | 01/02/24 | 10/31/24 | 230,800,000 | 230,989,993 |
1.50% | 11/30/24 | 147,000,000 | 142,598,245 | |||
1.75% | 12/31/24 | 150,000,000 | 145,608,429 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(3 mo. US TBILL + 0.20%) | (a) | 5.53% | 01/02/24 | 01/31/25 | 870,300,000 | 871,101,696 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 04/30/25 | 1,060,600,000 | 1,061,208,496 |
(3 mo. US TBILL + 0.13%) | (a) | 5.46% | 01/02/24 | 07/31/25 | 1,830,500,000 | 1,830,115,796 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 10/31/25 | 569,000,000 | 568,493,506 |
Total U.S. Treasury Debt (Cost $56,616,653,107) | 56,616,653,107 | |||||
Total Investments in Securities (Cost $56,616,653,107) | 56,616,653,107 |
(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) | $56,616,653,107 | |
Cash | 641 | |
Receivables: | ||
Fund shares sold | 560,383,087 | |
Interest | 55,574,492 | |
Prepaid expenses | + | 1,273,226 |
Total assets | 57,233,884,553 | |
Liabilities | ||
Payables: | ||
Investments bought | 3,834,098,799 | |
Fund shares redeemed | 346,019,921 | |
Distributions to shareholders | 99,536,257 | |
Investment adviser and administrator fees | 6,724,443 | |
Shareholder service fees | 490,570 | |
Independent trustees’ fees | 235 | |
Accrued expenses | + | 5,319,894 |
Total liabilities | 4,292,190,119 | |
Net assets | $52,941,694,434 | |
Net Assets by Source | ||
Capital received from investors | $52,941,694,434 | |
Net assets | $52,941,694,434 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $23,422,402,487 | 23,421,882,350 | $1.00 | ||
Ultra Shares | $29,519,291,947 | 29,518,815,213 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $1,785,850,028 | |
Expenses | ||
Investment adviser and administrator fees | 66,773,466 | |
Shareholder service fees: | ||
Investor Shares | 24,264,044 | |
Registration fees | 6,936,705 | |
Portfolio accounting fees | 278,611 | |
Custodian fees | 191,768 | |
Shareholder reports | 147,089 | |
Professional fees | 71,246 | |
Independent trustees’ fees | 66,783 | |
Transfer agent fees | 1,353 | |
Other expenses | + | 146,261 |
Total expenses | 98,877,326 | |
Expense reduction | – | 7,839,816 |
Net expenses | – | 91,037,510 |
Net investment income | 1,694,812,518 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 220,207 | |
Increase in net assets resulting from operations | $1,695,032,725 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $1,694,812,518 | $147,757,421 | |
Net realized gains | + | 220,207 | 68,809 |
Increase in net assets from operations | $1,695,032,725 | $147,826,230 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($764,383,343 ) | ($85,133,479 ) | |
Ultra Shares | + | (930,566,155 ) | (62,682,376 ) |
Total distributions | ($1,694,949,498 ) | ($147,815,855 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 42,384,480,840 | 10,507,774,018 | |
Ultra Shares | + | 62,289,160,425 | 10,562,708,044 |
Total shares sold | 104,673,641,265 | 21,070,482,062 | |
Shares Reinvested | |||
Investor Shares | 504,836,271 | 55,057,183 | |
Ultra Shares | + | 688,307,103 | 45,838,359 |
Total shares reinvested | 1,193,143,374 | 100,895,542 | |
Shares Redeemed | |||
Investor Shares | (27,426,026,528 ) | (10,071,645,436 ) | |
Ultra Shares | + | (39,634,617,135 ) | (8,281,962,337 ) |
Total shares redeemed | (67,060,643,663 ) | (18,353,607,773 ) | |
Net transactions in fund shares | 38,806,140,976 | 2,817,769,831 | |
NET ASSETS | |||
Beginning of period | $14,135,470,231 | $11,317,690,025 | |
Total increase | + | 38,806,224,203 | 2,817,780,206 |
End of period | $52,941,694,434 | $14,135,470,231 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
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 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | |
Total distributions | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 4.85 % | 1.40 % | 0.01 % | 0.27 % | 1.89 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.30 %3,4 | 0.06 %4 | 0.30 %4,5 | 0.35 % | |
Gross operating expenses | 0.36 % | 0.35 %3 | 0.35 % | 0.46 % | 0.48 % | |
Net investment income (loss) | 4.81 % | 1.92 % | 0.01 % | 0.27 % | 1.86 % | |
Net assets, end of period (x 1,000,000) | $35,243 | $15,372 | $5,632 | $7,573 | $10,820 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
5 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020 is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 9/24/201– 12/31/20 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.05 | 0.02 | 0.00 3 | 0.00 3 | ||
Net realized and unrealized gains (losses) | 0.00 3 | 0.00 3 | 0.00 3 | 0.00 3 | ||
Total from investment operations | 0.05 | 0.02 | 0.00 3 | 0.00 3 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.02 ) | (0.00 )3 | (0.00 )3 | ||
Distributions from net realized gains | (0.00 )3 | (0.00 )3 | (0.00 )3 | (0.00 )3 | ||
Total distributions | (0.05 ) | (0.02 ) | (0.00 )3 | (0.00 )3 | ||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Total return | 5.00 % | 1.52 % | 0.01 % | 0.00 %4,5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.18 %6,7 | 0.06 %7 | 0.16 %7,8 | ||
Gross operating expenses | 0.21 % | 0.20 %6 | 0.20 % | 0.21 %8 | ||
Net investment income (loss) | 4.94 % | 2.53 % | 0.01 % | 0.01 %8 | ||
Net assets, end of period (x 1,000,000) | $33,877 | $17,073 | $2,244 | $1,754 |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Percentage was less than 0.005%. |
6 | Ratio includes less than 0.005% of non-routine proxy expenses. |
7 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
8 | Annualized. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. TREASURY DEBT 29.8% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
5.44% | 01/11/24 | 103,900,000 | 103,760,592 | |||
5.42% | 01/18/24 | 91,000,000 | 90,783,703 | |||
5.33% | 01/30/24 | 793,100,000 | 789,826,700 | |||
5.45% | 02/06/24 | 103,800,000 | 103,260,096 | |||
5.47% | 02/13/24 | 103,700,000 | 103,050,561 | |||
5.44% | 03/05/24 | 922,900,000 | 914,270,343 | |||
2.00% | 04/30/24 | 225,555,000 | 223,021,139 | |||
2.25% | 04/30/24 | 793,500,000 | 785,531,974 | |||
2.50% | 04/30/24 | 613,500,000 | 607,797,044 | |||
5.40% | 05/09/24 | 713,400,000 | 700,068,351 | |||
0.25% | 05/15/24 | 568,999,000 | 558,549,847 | |||
2.50% | 05/15/24 | 300,000,000 | 296,881,242 | |||
2.00% | 05/31/24 | 248,000,000 | 244,559,035 | |||
0.25% | 06/15/24 | 247,300,000 | 241,750,221 | |||
5.24% | 06/27/24 | 350,000,000 | 341,222,890 | |||
1.75% | 06/30/24 | 255,000,000 | 250,529,384 | |||
0.38% | 07/15/24 | 75,400,000 | 73,463,782 | |||
1.75% | 07/31/24 | 1,478,700,000 | 1,448,692,400 | |||
2.13% | 07/31/24 | 339,940,000 | 333,730,192 | |||
3.00% | 07/31/24 | 1,152,100,000 | 1,136,845,239 | |||
0.38% | 08/15/24 | 1,938,200,000 | 1,880,506,925 | |||
2.38% | 08/15/24 | 797,000,000 | 783,297,183 | |||
0.38% | 09/15/24 | 192,700,000 | 186,340,056 | |||
2.13% | 09/30/24 | 165,300,000 | 161,651,123 | |||
0.63% | 10/15/24 | 110,100,000 | 106,284,870 | |||
1.50% | 10/31/24 | 15,500,000 | 15,040,938 | |||
4.38% | 10/31/24 | 570,000,000 | 566,558,452 | |||
(3 mo. US TBILL + 0.14%) | (a) | 5.47% | 01/02/24 | 10/31/24 | 522,200,000 | 522,630,391 |
0.75% | 11/15/24 | 275,800,000 | 265,690,404 | |||
2.25% | 11/15/24 | 55,100,000 | 53,753,488 | |||
1.50% | 11/30/24 | 194,200,000 | 188,384,893 | |||
4.84% | 12/26/24 | 400,000,000 | 381,602,247 | |||
2.25% | 12/31/24 | 110,300,000 | 107,487,576 | |||
(3 mo. US TBILL + 0.20%) | (a) | 5.53% | 01/02/24 | 01/31/25 | 1,356,955,000 | 1,358,258,558 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 04/30/25 | 1,434,100,000 | 1,434,943,984 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(3 mo. US TBILL + 0.13%) | (a) | 5.46% | 01/02/24 | 07/31/25 | 2,516,800,000 | 2,516,267,071 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 10/31/25 | 768,300,000 | 767,626,098 |
Total U.S. Treasury Debt (Cost $20,643,918,992) | 20,643,918,992 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 70.7% OF NET ASSETS | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 70.7% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.31% | 01/02/24 | 87,051,330 | 87,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $88,740,058, 2.00%, due 08/15/25) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 104,061,476 | 104,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $106,142,724, 0.00%, due 01/16/24 - 03/28/24) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 7,388,998 | 7,384,625 | ||
(Collateralized by U.S. Treasury Securities valued at $7,536,784, 0.00%, due 04/25/24) | ||||||
Issued 12/14/23, repurchase date 02/02/24 | 5.32% | 01/05/24 | 4,013,004,444 | 4,000,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $4,110,146,704, 0.13% - 7.63%, due 01/31/24 - 11/15/53) | ||||||
BOFA SECURITIES INC | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.38% | 01/02/24 | 1,129,200,928 | 1,119,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,141,380,018, 0.25% - 6.13%, due 06/15/24 - 02/15/53) | ||||||
Issued 09/28/23, repurchase date 02/14/24 | (a) | 5.44% | 01/02/24 | 01/05/24 | 286,218,720 | 282,000,000 |
(Collateralized by U.S. Treasury Securities valued at $287,640,062, 1.38% - 4.75%, due 07/31/24 - 11/15/53) (SOFR + 0.04%) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 11/21/23, repurchase date 01/04/24 | 5.32% | 01/04/24 | 603,901,333 | 600,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $612,000,036, 0.13% - 4.75%, due 06/30/24 - 11/15/53) | ||||||
Issued 11/02/23, repurchase date 01/04/24 | 5.36% | 01/04/24 | 168,566,460 | 167,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $170,340,019, 0.13% - 4.63%, due 07/15/25 - 08/15/53) | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.32% | 01/05/24 | 501,625,556 | 500,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $510,000,016, 0.13% - 5.47%, due 02/29/24 - 02/15/53) | ||||||
Issued 12/22/23, repurchase date 01/22/24 | 5.33% | 01/05/24 | 751,554,583 | 750,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $765,000,021, 0.00% - 5.53%, due 06/30/24 - 05/15/48) | ||||||
Issued 12/28/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 250,296,111 | 250,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $255,000,016, 0.13% - 4.25%, due 06/30/24 - 02/15/52) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 11/08/23, repurchase date 01/16/24 | 5.34% | 01/05/24 | 113,972,177 | 113,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $115,260,047, 0.13% - 4.00%, due 10/15/24 - 05/15/53) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 1,857,919,929 | 1,856,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,893,120,020, 0.13% - 6.13%, due 01/31/24 - 02/28/30) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 1,215,719,550 | 1,215,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,239,300,007, 0.50% - 4.50%, due 12/31/27 - 11/15/33) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.30% | 01/02/24 | 31,178,349,778 | 31,160,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $31,178,349,857, 1.50% - 3.88%, due 02/15/25 - 11/15/46) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 696,412,187 | 696,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $709,920,027, 2.38%, due 03/31/29) | ||||||
MUFG SECURITIES AMERICAS INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 348,206,867 | 348,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $354,960,035, 0.13% - 4.38%, due 04/15/27 - 08/15/52) | ||||||
Issued 12/15/23, repurchase date 02/02/24 | 5.32% | 01/05/24 | 652,017,167 | 650,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $663,000,014, 0.13% - 4.13%, due 01/15/25 - 08/15/53) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.32% | 01/05/24 | 3,260,566,111 | 3,250,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $3,339,004,284, 0.00% - 5.53%, due 01/09/24 - 11/15/53) | ||||||
Issued 12/15/23, repurchase date 02/02/24 | 5.32% | 01/05/24 | 1,705,275,667 | 1,700,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $1,746,556,087, 0.00% - 4.88%, due 01/04/24 - 11/15/53) | ||||||
48,854,384,625 | ||||||
Total Repurchase Agreements (Cost $48,854,384,625) | 48,854,384,625 | |||||
Total Investments in Securities (Cost $69,498,303,617) | 69,498,303,617 |
(a) | Variable rate security; rate shown is effective rate at period end. |
FICC — | Fixed Income Clearing Corp |
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. |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $20,643,918,992 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 48,854,384,625 | |
Receivables: | ||
Fund shares sold | 717,557,714 | |
Interest | 191,686,120 | |
Prepaid expenses | + | 1,289,803 |
Total assets | 70,408,837,254 | |
Liabilities | ||
Payables: | ||
Investments bought | 789,826,700 | |
Fund shares redeemed | 340,995,604 | |
Distributions to shareholders | 140,816,414 | |
Investment adviser and administrator fees | 9,685,521 | |
Shareholder service fees | 712,509 | |
Independent trustees’ fees | 320 | |
Accrued expenses | + | 6,053,335 |
Total liabilities | 1,288,090,403 | |
Net assets | $69,120,746,851 | |
Net Assets by Source | ||
Capital received from investors | $69,120,746,851 | |
Net assets | $69,120,746,851 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $35,243,467,273 | 35,243,365,115 | $1.00 | ||
Ultra Shares | $33,877,279,578 | 33,877,193,915 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $3,076,711,955 | |
Expenses | ||
Investment adviser and administrator fees | 113,454,548 | |
Shareholder service fees: | ||
Investor Shares | 44,433,678 | |
Registration fees | 8,881,598 | |
Portfolio accounting fees | 504,313 | |
Custodian fees | 435,870 | |
Shareholder reports | 349,303 | |
Professional fees | 130,938 | |
Independent trustees’ fees | 93,555 | |
Transfer agent fees | 1,347 | |
Other expenses | + | 269,903 |
Total expenses | 168,555,053 | |
Expense reduction | – | 10,666,817 |
Net expenses | – | 157,888,236 |
Net investment income | 2,918,823,719 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 486,626 | |
Increase in net assets resulting from operations | $2,919,310,345 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $2,918,823,719 | $325,289,916 | |
Net realized gains | + | 486,626 | 34,426 |
Increase in net assets from operations | $2,919,310,345 | $325,324,342 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($1,427,985,472 ) | ($149,879,246 ) | |
Ultra Shares | + | (1,491,187,911 ) | (175,438,098 ) |
Total distributions | ($2,919,173,383 ) | ($325,317,344 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 70,703,934,296 | 22,106,591,490 | |
Ultra Shares | + | 75,988,590,865 | 31,409,409,090 |
Total shares sold | 146,692,525,161 | 53,516,000,580 | |
Shares Reinvested | |||
Investor Shares | 916,874,688 | 92,989,226 | |
Ultra Shares | + | 1,062,375,331 | 120,531,071 |
Total shares reinvested | 1,979,250,019 | 213,520,297 | |
Shares Redeemed | |||
Investor Shares | (51,749,759,603 ) | (12,458,839,922 ) | |
Ultra Shares | + | (60,246,976,220 ) | (16,700,858,266 ) |
Total shares redeemed | (111,996,735,823 ) | (29,159,698,188 ) | |
Net transactions in fund shares | 36,675,039,357 | 24,569,822,689 | |
NET ASSETS | |||
Beginning of period | $32,445,570,532 | $7,875,740,845 | |
Total increase | + | 36,675,176,319 | 24,569,829,687 |
End of period | $69,120,746,851 | $32,445,570,532 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS | |
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 |
2. Significant Accounting Policies:
Schwab Government Money Fund | $38,507,417,622 |
Schwab Treasury Obligations Money Fund | 48,854,384,625 |
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
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 % |
5. Board of Trustees:
6. Borrowing from Banks:
7. Federal Income Taxes:
TAX COST | |
Schwab Government Money Fund | $55,307,019,518 |
Schwab U.S. Treasury Money Fund | 56,616,653,107 |
Schwab Treasury Obligations Money Fund | 69,498,303,617 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | ORDINARY INCOME | |
Schwab Government Money Fund | $2,240,235,949 | $499,407,179 |
Schwab U.S. Treasury Money Fund | 1,694,949,498 | 147,815,855 |
Schwab Treasury Obligations Money Fund | 2,919,173,383 | 325,317,344 |
8. Subsequent Events:
Denver, Colorado
February 16, 2024
Schwab Government Money Fund | 99.99 % |
Schwab U.S. Treasury Money Fund | 99.99 % |
Schwab Treasury Obligations Money Fund | 99.98 % |
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 |
Michael J. Beer 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 2022) | Retired. Director, President and Chief Executive Officer (Dec. 2016 – Sept. 2019), Principal Funds (investment management). | 106 | Director (2016 – 2019), Principal Funds, Inc. |
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. | 106 | 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. | 106 | 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. | 106 | 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). | 106 | None |
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). | 106 | 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). | 106 | 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.; Co-Chairman of the Board (July 2022 – present) and Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Co-Chairman of the Board (July 2022 – present) and Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Co-Chairman of the Board (July 2022 – present) and 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.; Manager (Sept. 2023 – present), TD Ameritrade Holding LLC; Director (Oct. 2020 – Aug. 2023), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 106 | Director (2008 – present), The Charles Schwab Corporation |
Richard A. Wurster2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2022) | President (Oct. 2021 – present) and Executive Vice President – Schwab Asset Management Solutions (Apr. 2019 – Oct. 2021), The Charles Schwab Corporation; President, Director (Oct. 2021 – present), Executive Vice President – Schwab Asset Management Solutions (July 2019 – Oct. 2021) and Senior Vice President – Advisory (May 2016 – July 2019), Charles Schwab & Co., Inc.; President (Nov. 2021 – present), Schwab Holdings, Inc.; Director (Oct. 2021 – present) and Chief Executive Officer (Nov. 2019 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Mar. 2018 – Oct. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (July 2016 – Apr. 2018) and President (Mar. 2017 – Apr. 2018), ThomasPartners, Inc.; Chief Executive Officer (July 2016 – Apr. 2018), Windhaven Investment Management, Inc. | 106 | 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 |
Omar Aguilar 1970 Chief Executive Officer, 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), President (Oct. 2023 – present), (Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Oct. 2022 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Sept. 2023 – present), President (Oct. 2023 – present), Chief Investment Officer (June 2011 – present) and Vice President (June 2011 – Sept. 2023), Schwab Funds, Laudus Trust and Schwab ETFs. |
Mark Fischer 1970 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) | Chief Operating Officer (Dec. 2020 – present) and Treasurer and Chief Financial Officer (Jan. 2016 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present), Chief Operating Officer (Oct. 2023 – present), Managing Director (Mar. 2023 – present) and Vice President (Oct. 2013 – Mar. 2023), Charles Schwab Investment Management, Inc. |
Dana Smith 1965 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2023) | Treasurer and Chief Financial Officer (Jan. 2023 – present) and Assistant Treasurer (Dec. 2015 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Vice President (Mar. 2022 – Mar. 2023) and Director (Oct. 2015 – Mar. 2022), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Apr. 2022 – May 2022), Charles Schwab & Co., Inc. |
Patrick Cassidy 1964 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 2018) | Chief Investment Officer (Oct. 2023 – present) and Vice President (Feb. 2018 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Chief Investment Officer (Oct. 2023 – present), and Senior Vice President (Oct. 2012 – Mar. 2023), Charles Schwab Investment Management, Inc. |
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) | Managing Director (Mar. 2023 – present), Senior Vice President (Jan. 2020 – Mar. 2023) 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), Managing Director (Mar. 2023 – present) and Vice President (Sept. 2005 – Mar. 2023), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Aug. 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. |
Member SIPC®
Printed on recycled paper.
Schwab AMT Tax-Free Money Fund
No Action Required – Notice Regarding Shareholder Report Delivery |
Beginning on July 24, 2024, fund shareholder reports will be streamlined to highlight key information deemed important for investors to assess and monitor their fund investments. Other information, including financial statements, will not appear in the streamlined shareholder reports but will available online and delivered free of charge upon request. |
• If you already receive the full shareholder reports, you will receive the streamlined shareholder reports in the same way that you currently receive the full shareholder reports (either in paper or electronically). |
• If you currently receive a notification when a shareholder report is available on a fund’s website, beginning July 24, 2024, you will begin to receive the streamlined shareholder report (in paper). |
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102 |
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. She has managed money market funds since 1988. |
Kevin Shaughnessy, CFA, Senior Portfolio Manager for Schwab Asset Management, 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 for Schwab Asset Management, 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 | 21 Days |
Schwab Municipal Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWTXX | SWOXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 3.70% | 3.85% |
Seven-Day Yield (without waivers)2 | 3.68% | 3.83% |
Seven-Day Effective Yield (with waivers)2 | 3.77% | 3.92% |
Weighted Average Maturity2 | 20 Days |
Schwab AMT Tax-Free Money Fund | ||
Investor Shares | Ultra Shares | |
Ticker Symbol | SWWXX | SCTXX |
Minimum Initial Investment1 | None | $1,000,000 |
Seven-Day Yield (with waivers)2 | 3.70% | 3.85% |
Seven-Day Yield (without waivers)2 | 3.64% | 3.79% |
Seven-Day Effective Yield (with waivers)2 | 3.77% | 3.93% |
EXPENSE RATIO (ANNUALIZED)1 | BEGINNING ACCOUNT VALUE AT 7/1/23 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 12/31/23 | EXPENSES PAID DURING PERIOD 7/1/23-12/31/232 | |
Schwab Municipal Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,016.40 | $1.73 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,017.10 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
Schwab AMT Tax-Free Money Fund | ||||
Investor Shares | ||||
Actual Return | 0.34% | $1,000.00 | $1,016.30 | $1.73 |
Hypothetical 5% Return | 0.34% | $1,000.00 | $1,023.49 | $1.73 |
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,017.10 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 days in the period, and divided by 365 days in the fiscal year. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 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 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 0.01 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | — | — | |
Total distributions | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 3.05 % | 0.92 % | 0.02 % | 0.35 % | 1.20 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.32 %3,4 | 0.11 %4 | 0.29 %4,5 | 0.34 % | |
Gross operating expenses | 0.35 % | 0.35 %3 | 0.35 % | 0.45 % | 0.48 % | |
Net investment income (loss) | 3.01 % | 1.07 % | 0.01 % | 0.35 % | 1.19 % | |
Net assets, end of period (x 1,000,000) | $4,003 | $2,954 | $1,597 | $2,041 | $2,674 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
5 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 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 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 0.01 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | — | — | |
Total distributions | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 3.21 % | 1.05 % | 0.02 % | 0.44 % | 1.35 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.19 %3,4 | 0.11 %4 | 0.19 %4,5 | 0.19 % | |
Gross operating expenses | 0.20 % | 0.20 %3 | 0.20 % | 0.30 % | 0.33 % | |
Net investment income (loss) | 3.14 % | 1.18 % | 0.01 % | 0.45 % | 1.33 % | |
Net assets, end of period (x 1,000,000) | $12,547 | $11,582 | $6,405 | $9,948 | $13,010 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
5 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio. |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 98.8% OF NET ASSETS | ||||||
ALABAMA 1.0% | ||||||
Alabama HFA | ||||||
M/F Housing RB (Chapel Ridge Apts) Series 2005E (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.01% | 01/05/24 | 11,000,000 | 11,000,000 | |
M/F Housing Refunding RB (Hunter Ridge Apts) Series 2005F (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.01% | 01/05/24 | 10,550,000 | 10,550,000 | |
Birmingham IDB | ||||||
RB (Culton Properties) Series 2009A (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.01% | 01/05/24 | 1,455,000 | 1,455,000 | |
Black Belt Energy Gas District | ||||||
Gas Supply RB Series 2023B | (b)(c)(d) | 3.90% | 01/05/24 | 7,075,000 | 7,075,000 | |
Energy Southeast Cooperative District | ||||||
Energy Supply RB Series 2023A1 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.92% | 01/05/24 | 5,900,000 | 5,900,000 | |
Huntsville Health Care Auth | ||||||
CP | 3.68% | 03/07/24 | 25,000,000 | 25,000,000 | ||
RB Series 2020B (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.91% | 01/05/24 | 3,820,000 | 3,820,000 | |
Mobile Cnty IDA | ||||||
Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B (LOC: SWEDBANK AB) | (a) | 4.08% | 01/05/24 | 35,000,000 | 35,000,000 | |
Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (LOC: NORDEA BANK ABP) | (a) | 4.08% | 01/05/24 | 10,000,000 | 10,000,000 | |
Recovery Zone Facility RB (SSAB Alabama) Series 2010A (LOC: SWEDBANK AB) | (a) | 4.08% | 01/05/24 | 27,640,000 | 27,640,000 | |
Mobile Solid Waste Auth | ||||||
RB (Waste Management/Chastang) Series 2003 (LOC: WELLS FARGO BANK NA) | (a) | 3.95% | 01/05/24 | 4,175,000 | 4,175,000 | |
Montgomery Downtown Redevelopment Auth | ||||||
RB (Southern Poverty Law Center) Series 2013 | (a) | 4.08% | 01/05/24 | 15,000,000 | 15,000,000 | |
Southeast Energy Auth | ||||||
Commodity Supply RB Series 2023A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,500,000 | 2,500,000 | |
Southeast Energy Auth Cooperative District | ||||||
RB (Project No.5) Series 2023A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.92% | 01/05/24 | 4,000,000 | 4,000,000 | |
163,115,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
ALASKA 0.6% | ||||||
Alaska Housing Finance Corp | ||||||
Home Mortgage RB Series 2007A (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.75% | 01/05/24 | 2,555,000 | 2,555,000 | |
Home Mortgage RB Series 2007B (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.80% | 01/05/24 | 10,690,000 | 10,690,000 | |
Home Mortgage RB Series 2007D (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.85% | 01/05/24 | 19,660,000 | 19,660,000 | |
Valdez | ||||||
Refunding RB (Exxon Pipeline) Series 2001 | (a) | 3.95% | 01/02/24 | 37,790,000 | 37,790,000 | |
Refunding RB (ExxonMobil) Series 1993B | (a) | 3.95% | 01/02/24 | 805,000 | 805,000 | |
Terminal Refunding RB (Exxon) Series 1993C | (a) | 3.95% | 01/02/24 | 25,140,000 | 25,140,000 | |
96,640,000 | ||||||
ARIZONA 0.8% | ||||||
Arizona Health Facilities Auth | ||||||
RB (Banner Health) Series 2015C (LOC: BANK OF AMERICA NA) | (a) | 4.05% | 01/02/24 | 8,665,000 | 8,665,000 | |
RB (Dignity Health) Series 2012A (GTY: MIZUHO BANK LTD) | (b)(c)(d) | 3.92% | 01/05/24 | 28,575,000 | 28,575,000 | |
Arizona IDA | ||||||
Hospital Refunding RB (Phoenix Children’s Hospital) Series 2019A (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.05% | 01/02/24 | 10,445,000 | 10,445,000 | |
Hospital Refunding RB (Phoenix Childrens Hospital) Series 2019B (LOC: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 23,885,000 | 23,885,000 | |
Maricopa Cnty IDA | ||||||
Hospital RB (HonorHealth) Series 2021C (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 10,500,000 | 10,500,000 | |
Solid Waste Disposal RB (Michael Pylman Dairy) Series 2005 (LOC: COBANK ACB) | (a) | 4.15% | 01/04/24 | 01/05/24 | 6,750,000 | 6,750,000 |
Phoenix IDA | ||||||
Health Care Facilities RB (Mayo Clinic) Series 2014A (LIQ: BANK OF AMERICA NA) | (a) | 3.99% | 01/02/24 | 26,355,000 | 26,355,000 | |
Salt River Project Agricultural Improvement & Power District | ||||||
Electric System RB Series 2023B (LIQ: DEUTSCHE BANK AG) | (b)(c)(d) | 3.92% | 01/05/24 | 19,395,000 | 19,395,000 | |
134,570,000 | ||||||
ARKANSAS 0.6% | ||||||
Osceola | ||||||
Solid Waste Disposal RB (Plum Point Energy) Series 2006 (LOC: GOLDMAN SACHS BANK USA) | (a) | 4.13% | 01/05/24 | 100,000,000 | 100,000,000 | |
CALIFORNIA 2.6% | ||||||
Bay Area Toll Auth | ||||||
Toll Bridge RB Series 2023B (LOC: BARCLAYS BANK PLC) | (a) | 3.97% | 01/02/24 | 21,435,000 | 21,435,000 | |
California Health Facilities Financing Auth | ||||||
RB (Adventist Health) Series 2023B (LOC: BARCLAYS BANK PLC) | (a) | 3.90% | 01/02/24 | 18,535,000 | 18,535,000 | |
RB (Cedars-Sanai Medical Center) Series 2021A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
RB (Kaiser Permanente) Series 2006E | 3.58% | 03/14/24 | 33,320,000 | 33,320,000 | ||
RB (Kaiser Permanente) Series 2017A2 (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,406,000 | 7,406,000 | |
California Public Finance Auth | ||||||
RB (Sharp Healthcare) Series 2017B (LOC: BARCLAYS BANK PLC) | (a) | 4.00% | 01/02/24 | 12,930,000 | 12,930,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
California Statewide Communities Development Auth | ||||||
RB (Kaiser Permanente) Series 2004E | 3.80% | 02/08/24 | 20,000,000 | 20,000,000 | ||
RB (Kaiser Permanente) Series 2004I | 3.60% | 03/05/24 | 1,000,000 | 1,000,000 | ||
RB (Kaiser Permanente) Series 2006D | 3.58% | 03/14/24 | 38,500,000 | 38,500,000 | ||
RB (Kaiser Permanente) Series 2009B4 | 3.55% | 03/14/24 | 10,000,000 | 10,000,000 | ||
RB (Kaiser Permanente) Series 2009B6 | 3.45% | 01/03/24 | 25,000,000 | 25,000,000 | ||
RB (Kaiser Permanente) Series 2009B6 | 3.45% | 01/04/24 | 7,800,000 | 7,800,000 | ||
RB (Kaiser Permanente) Series 2009B6 | 3.65% | 03/05/24 | 3,900,000 | 3,900,000 | ||
Emeryville Successor Redevelopment Agency | ||||||
M/F Housing RB (Bay St Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.94% | 01/05/24 | 57,715,000 | 57,715,000 | |
Los Angeles Dept of Airports | ||||||
Sub RB Series 2017A, 2018A, 2018C, 2019F (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 480,000 | 480,000 | |
Los Angeles Dept of Water & Power | ||||||
Power System RB Series 2021A3 (LIQ: ROYAL BANK OF CANADA) | (a) | 3.82% | 01/02/24 | 2,800,000 | 2,800,000 | |
Power System RB Series 2023F1 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.90% | 01/02/24 | 25,000,000 | 25,000,000 | |
Nuveen California Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.96% | 01/05/24 | 5,000,000 | 5,000,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: ROYAL BANK OF CANADA) | (a)(b) | 3.94% | 01/05/24 | 3,000,000 | 3,000,000 | |
Variable Rate Demand Preferred Shares Series 6 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 3.96% | 01/05/24 | 700,000 | 700,000 | |
Variable Rate Demand Preferred Shares Series 7 (LOC: ROYAL BANK OF CANADA) | (a)(b) | 3.94% | 01/05/24 | 9,000,000 | 9,000,000 | |
San Francisco Airport Commission | ||||||
RB 2nd Series 2014A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/04/24 | 01/05/24 | 5,625,000 | 5,625,000 |
RB 2nd Series 2016B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 13,465,000 | 13,465,000 | |
RB 2nd Series 2017B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.92% | 01/05/24 | 16,485,000 | 16,485,000 | |
RB 2nd Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.37% | 01/02/24 | 1,000,000 | 1,000,000 | |
RB 2nd Series 2019A&E (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 400,000 | 400,000 | |
RB 2nd Series 2019A, 2019E, 2018D, 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 58,570,000 | 58,570,000 | |
RB 2nd Series 2019E, 2019A, 2018D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 28,985,000 | 28,985,000 | |
RB 2nd Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 4,225,000 | 4,225,000 | |
Refunding RB 2nd Series 2023C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 2,000,000 | 2,000,000 | |
436,941,000 | ||||||
COLORADO 1.7% | ||||||
Broomfield Urban Renewal Auth | ||||||
Tax Increment RB Series 2005 (LOC: BNP PARIBAS SA) | (a) | 3.85% | 01/05/24 | 24,500,000 | 24,500,000 | |
Colorado | ||||||
COP Series 2021S (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 4,540,000 | 4,540,000 | |
TRAN 2023A | 5.00% | 06/28/24 | 4,500,000 | 4,532,039 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Colorado Health Facilities Auth | ||||||
Hospital RB (Advent Health) Series 2018A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,000,000 | 1,000,000 | |
Hospital RB (Advent Health) Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 3,905,000 | 3,905,000 | |
RB (Children’s Hospital Colorado) Series 2016B (LOC: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 68,930,000 | 68,930,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
RB (Intermountain Healthcare) Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
RB (Intermountain Healthcare) Series 2022A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,200,000 | 1,200,000 | |
RB (Intermountain Healthcare) Series 2022E | (a) | 4.00% | 01/02/24 | 3,025,000 | 3,025,000 | |
RB (Intermountain Healthcare) Series 2022F | (a) | 3.82% | 01/05/24 | 59,100,000 | 59,100,000 | |
RB (SCL Health System) Series 2016D | (a) | 3.90% | 01/05/24 | 26,290,000 | 26,290,000 | |
RB (Sisters of Charity of Leavenworth Health) Series 2013A (ESCROW) (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/01/24 | 8,000,000 | 8,000,000 | |
Refunding RB (Children’s Hospital Colorado) Series 2020A (LOC: TD BANK NA) | (a) | 4.05% | 01/02/24 | 5,425,000 | 5,425,000 | |
Colorado Housing & Finance Auth | ||||||
M/F Housing RB (Terrace Park Apartments) Series 2007 (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.86% | 01/05/24 | 10,725,000 | 10,725,000 | |
S/F Mortgage Class I Bonds Series 2017E (LIQ: BANK OF AMERICA NA) | (a) | 3.81% | 01/05/24 | 11,100,000 | 11,100,000 | |
Colorado State Univ | ||||||
System Enterprise RB Series 2015D (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 10,000,000 | 10,000,000 |
Denver | ||||||
Airport System RB Series 2022D (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.12% | 01/05/24 | 13,540,000 | 13,540,000 | |
Airport System Sub RB Series 2018A (LOC: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.95% | 01/05/24 | 6,685,000 | 6,685,000 | |
Denver Dedicated Tax Revenue | ||||||
Dedicated Tax RB Series 2021A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 4,205,000 | 4,205,000 | |
Denver SD #1 | ||||||
GO Bonds Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,500,000 | 1,500,000 | |
275,202,039 | ||||||
CONNECTICUT 0.1% | ||||||
Connecticut Development Auth | ||||||
Refunding RB (Bradley Airport Hotel) Series 2006A (LOC: TD BANK NA) | (a) | 3.97% | 01/05/24 | 100,000 | 100,000 | |
Connecticut HFA | ||||||
Housing Mortgage Finance Bonds Series 2018C4 (LIQ: TD BANK NA) | (a) | 3.79% | 01/05/24 | 21,950,000 | 21,950,000 | |
22,050,000 | ||||||
DELAWARE 0.1% | ||||||
Delaware Health Facilities Auth | ||||||
Refunding RB (Christiana Care Health Services) Series 2020A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.91% | 01/05/24 | 12,550,000 | 12,550,000 | |
New Castle Cnty | ||||||
Airport Facility RB (FlightSafety) Series 2002 | (a) | 3.93% | 01/05/24 | 5,185,000 | 5,185,000 | |
17,735,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
DISTRICT OF COLUMBIA 1.3% | ||||||
District of Columbia | ||||||
GO Bonds Series 2016D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 8,910,000 | 8,910,000 |
GO Bonds Series 2017B (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 42,000,000 | 42,000,000 | |
GO Refunding Bonds Series 2017C (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 20,595,000 | 20,595,000 | |
Income Tax Secured RB Series 2019A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 895,000 | 895,000 | |
District of Columbia HFA | ||||||
M/F Housing RB (Pentacle Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.94% | 01/05/24 | 8,310,000 | 8,310,000 | |
District of Columbia Water & Sewer Auth | ||||||
Extendible CP Series A | 3.86% | 02/06/24 | 06/28/24 | 38,000,000 | 38,000,000 | |
Public Utility Sr Lien RB Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (b)(c)(d) | 4.10% | 01/02/24 | 9,700,000 | 9,700,000 | |
Public Utility Sr Lien RB Series 2018B (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,335,000 | 1,335,000 | |
Public Utility Sub Lien RB Series 2014B2 (LIQ: TD BANK NA) | (a) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
Public Utility Sub Lien RB Series 2019A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,760,000 | 3,760,000 | |
Metropolitan Washington Airports Auth | ||||||
Airport System RB Series 2009D2 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 550,000 | 550,000 | |
Airport System Refunding RB Series 2011A1 (LOC: TD BANK NA) | (a) | 3.78% | 01/05/24 | 28,320,000 | 28,320,000 | |
Airport System Refunding RB Series 2011A3 (LOC: TD BANK NA) | (a) | 3.78% | 01/05/24 | 1,400,000 | 1,400,000 | |
Airport System Refunding RB Series 2015A (LIQ: CITIBANK NA) | (b)(c)(d) | 4.02% | 01/04/24 | 01/05/24 | 20,500,000 | 20,500,000 |
Airport System Refunding RB Series 2018A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 7,725,000 | 7,725,000 | |
Airport System Refunding RB Series 2019A (LIQ: CITIBANK NA) | (b)(c)(d) | 3.91% | 01/05/24 | 5,500,000 | 5,500,000 | |
Airport System Refunding RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.45% | 01/02/24 | 9,510,000 | 9,510,000 | |
Airport System Refunding RB Series 2023A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.92% | 01/05/24 | 10,285,000 | 10,285,000 | |
220,295,000 | ||||||
FLORIDA 3.5% | ||||||
Brevard Cnty HFA | ||||||
M/F Housing RB (Timber Trace Apts) Series 2007 (LOC: CITIBANK NA) | (a) | 3.79% | 01/05/24 | 8,880,000 | 8,879,922 | |
Broward Cnty | ||||||
Airport Facility RB (Embraer Aircraft Holding) Series 2007A (LOC: CITIBANK NA) | (a) | 3.91% | 01/05/24 | 11,500,000 | 11,500,000 | |
Airport System RB Series 2019A 2017 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.94% | 01/05/24 | 5,310,000 | 5,310,000 | |
Broward Cnty HFA | ||||||
M/F Housing RB (Palms of Deerfield Beach Apts) Series 2006 (LOC: CITIBANK NA) | (a) | 3.79% | 01/05/24 | 2,925,000 | 2,925,000 | |
M/F Housing RB (Sailboat Bend Artist Lofts) Series 2006 (LOC: CITIBANK NA) | (a) | 3.80% | 01/05/24 | 1,100,000 | 1,100,000 | |
Collier Cnty Health Facilities Auth | ||||||
RB (Cleveland Clinic) Series 2003C1 | 3.57% | 04/03/24 | 35,000,000 | 35,000,000 | ||
Collier Cnty IDA | ||||||
IDRB (Allete) Series 2006 (LOC: WELLS FARGO BANK NA) | (a) | 3.93% | 01/05/24 | 27,800,000 | 27,800,000 |
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) | 3.96% | 01/05/24 | 7,970,000 | 7,970,000 | |
M/F Housing RB (Hudson Ridge Apts) Series 2008L (LOC: JPMORGAN CHASE BANK NA) | (a) | 3.92% | 01/05/24 | 2,060,000 | 2,060,000 | |
M/F Mortgage RB (Clear Harbor Apts) Series 2007H (LOC: CITIBANK NA) | (a) | 3.96% | 01/05/24 | 2,895,000 | 2,895,000 | |
M/F Mortgage RB (Lakeshore Apts) Series 2004H (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.95% | 01/05/24 | 7,000,000 | 7,000,000 | |
M/F Mortgage RB (Spring Haven Apts) Series 2004F (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.95% | 01/05/24 | 4,800,000 | 4,800,000 | |
M/F Mortgage RB (Spring Haven Apts) Series 2006G (LOC: CITIBANK NA) | (a) | 3.96% | 01/05/24 | 2,955,000 | 2,955,000 | |
M/F Mortgage RB (St. Andrews Pointe Apts) Series 2003E1 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.96% | 01/05/24 | 5,240,000 | 5,240,000 | |
M/F Mortgage Refunding RB (Grand Reserve at Lee Vista) Series 2004L (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 10,810,000 | 10,810,000 | |
M/F Mortgage Refunding RB (Grand Reserve at Maitland Park) Series 2004M (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 3,900,000 | 3,900,000 | |
Florida Local Government Finance Commission | ||||||
CP Series A1 (LOC: JPMORGAN CHASE BANK NA) | 3.80% | 01/05/24 | 34,006,000 | 34,006,000 | ||
CP Series A1 (LOC: JPMORGAN CHASE BANK NA) | 3.84% | 01/05/24 | 3,000,000 | 3,000,000 | ||
CP Series A1 (LOC: JPMORGAN CHASE BANK NA) | 3.60% | 02/02/24 | 2,400,000 | 2,400,000 | ||
Greater Orlando Aviation Auth | ||||||
Airport Facility Sub RB Series 2017A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 1,875,000 | 1,875,000 | |
Sub Airport Facilities RB Series 2017A (LOC: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.95% | 01/05/24 | 1,875,000 | 1,875,000 | |
Halifax Hospital Medical Center | ||||||
Hospital Refunding RB Series 2008 (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.65% | 01/05/24 | 6,500,000 | 6,500,000 | |
Hillsborough Cnty HFA | ||||||
M/F Housing RB (Lake Kathy Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.95% | 01/05/24 | 17,590,000 | 17,590,000 | |
M/F Housing RB (Royal Palm Key Apts) Series 2002 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.78% | 01/05/24 | 6,395,000 | 6,395,000 | |
Hillsborough Cnty IDA | ||||||
Health System RB (Baycare Health) Series 2020B (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 21,900,000 | 21,900,000 | |
Health System RB (Baycare Health) Series 2020D (LOC: TD BANK NA) | (a) | 4.10% | 01/02/24 | 1,150,000 | 1,150,000 | |
Jacksonville | ||||||
CP Series A (LOC: BANK OF AMERICA NA) | 3.75% | 01/03/24 | 29,300,000 | 29,300,000 | ||
Health Care Refunding RB (Baptist Health) Series 2019B | (a) | 3.90% | 01/05/24 | 7,545,000 | 7,545,000 | |
Health Care Refunding RB (Baptist Health) Series 2019D | (a) | 3.87% | 01/05/24 | 36,805,000 | 36,805,000 | |
Health Care Refunding RB (Baptist Health) Series 2019E | (a) | 3.87% | 01/05/24 | 36,615,000 | 36,615,000 | |
Lee Cnty | ||||||
Airport RB Series 2021B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 2,440,000 | 2,440,000 | |
Manatee Cnty | ||||||
Refunding RB Series 2022 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 7,915,000 | 7,915,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Miami | ||||||
Special Obligation RB Series 2023A (LIQ: DEUTSCHE BANK AG) | (b)(c)(d) | 3.92% | 01/05/24 | 16,615,000 | 16,615,000 | |
Miami Dade Cnty Aviation | ||||||
CP Notes Series 2021 (LOC: BANK OF AMERICA NA) | 3.90% | 01/10/24 | 20,000,000 | 20,000,000 | ||
CP Notes Series 2021 (LOC: BANK OF AMERICA NA) | 3.84% | 02/12/24 | 10,000,000 | 10,000,000 | ||
Miami-Dade Cnty | ||||||
GO Bonds Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 7,645,000 | 7,645,000 | |
Seaport CP Notes Series B1 (LOC: BANK OF AMERICA NA) | 3.75% | 04/02/24 | 30,000,000 | 30,000,000 | ||
Seaport CP Notes Series B1 (LOC: BANK OF AMERICA NA) | 3.60% | 04/03/24 | 30,000,000 | 30,000,000 | ||
Transit System Sales Surtax RB Series 2020A & 2018 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 5,835,000 | 5,835,000 | |
Transit System Sales Surtax RB Series 2022 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 32,830,000 | 32,830,000 | |
Orange Cnty HFA | ||||||
M/F Housing RB (Lakeside Pointe Apts) Series 2005B (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.58% | 01/05/24 | 5,115,000 | 5,115,000 | |
M/F Housing RB (Landings on Millenia Blvd Apts) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.58% | 01/05/24 | 9,705,000 | 9,705,000 | |
M/F Housing RB (Laurel Oaks Apts II) Series 2007H (LOC: TRUIST BANK) | (a) | 3.87% | 01/05/24 | 6,680,000 | 6,680,000 | |
M/F Housing RB (Laurel Oaks Apts) Series 2007G (LOC: TRUIST BANK) | (a) | 3.87% | 01/05/24 | 7,230,000 | 7,230,000 | |
M/F Housing RB (Lee Vista Club Apts) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.58% | 01/05/24 | 9,955,000 | 9,955,000 | |
M/F Housing RB (The Cove At Lady Lake Apts) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.58% | 01/05/24 | 6,815,000 | 6,815,000 | |
Orange Cnty IDA | ||||||
RB (Foundation Academy of Winter Garden) Series 2007 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.67% | 01/05/24 | 6,110,000 | 6,110,000 | |
Orlando Utilities Commission | ||||||
Utility System RB Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
Palm Beach Cnty HFA | ||||||
M/F Housing RB (Palm Gardens Apts) Series 2007 (LOC: CITIBANK NA) | (a) | 5.50% | 01/05/24 | 2,510,000 | 2,510,000 | |
Sarasota Cnty | ||||||
RB (Planned Parenthood) Series 2007 (LOC: BMO BANK NA) | (a) | 3.93% | 01/05/24 | 760,000 | 760,000 | |
South Broward Hospital District | ||||||
Hospital RB Series 2016A & 2018 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,815,000 | 1,815,000 | |
571,075,922 | ||||||
GEORGIA 1.7% | ||||||
Atlanta | ||||||
General Airport RB Series 2019B (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.95% | 01/05/24 | 3,520,000 | 3,520,000 | |
Water & Wastewater CP Series 2021 (LOC: WELLS FARGO BANK NA) | 3.85% | 01/25/24 | 30,000,000 | 29,999,970 | ||
Water & Wastewater CP Series 2021 (LOC: WELLS FARGO BANK NA) | 3.64% | 03/07/24 | 5,215,000 | 5,215,000 | ||
Atlanta Hartsfield-Jackson Airport | ||||||
Airport CP Notes Series N2 (LOC: PNC BANK NA) | 3.95% | 01/09/24 | 18,005,000 | 18,005,000 | ||
Airport CP Notes Series N2 (LOC: PNC BANK NA) | 4.05% | 01/09/24 | 13,849,000 | 13,849,000 | ||
Airport CP Notes Series N2 (LOC: PNC BANK NA) | 4.10% | 01/09/24 | 84,529,000 | 84,529,000 | ||
Airport CP Notes Series O2 (LOC: JPMORGAN CHASE BANK NA) | 3.90% | 01/09/24 | 17,511,000 | 17,511,000 | ||
Airport CP Notes Series O2 (LOC: JPMORGAN CHASE BANK NA) | 4.05% | 01/09/24 | 4,322,000 | 4,322,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Airport CP Notes Series O2 (LOC: JPMORGAN CHASE BANK NA) | 4.10% | 01/09/24 | 36,605,000 | 36,605,000 | ||
CP Notes Series M2 (LOC: BANK OF AMERICA NA) | 4.05% | 01/09/24 | 5,874,000 | 5,874,000 | ||
CP Notes Series M2 (LOC: BANK OF AMERICA NA) | 4.10% | 01/09/24 | 6,489,000 | 6,489,000 | ||
Brookhaven Development Auth | ||||||
RB (Children’s Healthcare of Atlanta) Series 2019A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 18,805,000 | 18,805,000 | |
Fulton Cnty Development Auth | ||||||
Airport Facility RB (FlightSafety) Series 1999B | (a) | 3.93% | 01/05/24 | 9,350,000 | 9,350,000 | |
Main Street Natural Gas Inc | ||||||
Gas Supply RB Series 2023D (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,700,000 | 2,700,000 | |
Gas Supply RB Series 2023E1 | (b)(c)(d) | 3.90% | 01/05/24 | 2,110,000 | 2,110,000 | |
Marietta Housing Auth | ||||||
M/F Housing RB (Walton Village Apts) Series 2005 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.00% | 01/05/24 | 14,300,000 | 14,300,000 | |
Savannah Economic Development Auth | ||||||
Exempt Facility RB (Home Depot) Series 1995B (LOC: TRUIST BANK) | (a) | 3.95% | 01/05/24 | 12,750,000 | 12,750,000 | |
Winder-Barrow Cnty Jt Development Auth | ||||||
IDRB (Price Companies) Series 2007 (LOC: BANK OF AMERICA NA) | (a) | 3.94% | 01/05/24 | 1,120,000 | 1,120,000 | |
287,053,970 | ||||||
IDAHO 0.0% | ||||||
Cassia Cnty IDC | ||||||
IDRB (Oak Valley Heifers) Series 2007 (LOC: COOPERATIEVE RABOBANK UA) | (a) | 4.15% | 01/05/24 | 900,000 | 900,000 | |
ILLINOIS 3.5% | ||||||
Chicago | ||||||
M/F Housing RB (Lincoln Village Sr Apts) Series 2006 (LOC: BMO BANK NA) | (a) | 3.89% | 01/05/24 | 3,797,000 | 3,797,000 | |
M/F Housing RB (Renaissance Place Apts) Series 2007 (LOC: BMO BANK NA) | (a) | 3.90% | 01/05/24 | 980,000 | 980,000 | |
M/F Housing RB (Renaissance St Luke) Series 2008 (LOC: BMO BANK NA) | (a) | 3.90% | 01/05/24 | 7,310,000 | 7,310,000 | |
Midway Airport 2nd Lien RB Series 2004C1 (LOC: BANK OF MONTREAL) | (a) | 3.89% | 01/05/24 | 37,165,000 | 37,165,000 | |
Midway Airport 2nd Lien RB Series 2004D (LOC: BANK OF MONTREAL) | (a) | 3.82% | 01/05/24 | 2,755,000 | 2,755,000 | |
Midway Airport 2nd Lien Refunding RB Series 2014C (LOC: PNC BANK NA) | (a) | 3.89% | 01/05/24 | 30,100,000 | 30,100,000 | |
OHare General Airport Sr Lien RB Series 2022A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 2,810,000 | 2,810,000 | |
OHare General Airport Sr Lien RB Series 2022A & 2018A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.94% | 01/05/24 | 5,620,000 | 5,620,000 | |
OHare General Airport Sr Lien Refunding RB Series 2018A (LOC: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.91% | 01/05/24 | 14,980,000 | 14,980,000 | |
Chicago Transit Auth | ||||||
2nd Lien Sales Tax RB Series 2017 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,660,000 | 3,660,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Illinois Finance Auth | ||||||
Pooled Program CP (LOC: JPMORGAN CHASE BANK NA) | 3.70% | 04/03/24 | 13,626,000 | 13,626,000 | ||
RB (Advocate Health) Series 2008C-1 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.90% | 01/05/24 | 69,780,000 | 69,780,000 | |
RB (Chicago Horticultural Society) Series 1999 (LOC: BMO BANK NA) | (a) | 3.75% | 01/05/24 | 4,050,000 | 4,050,000 | |
RB (Fenwick HS) Series 2007 (LOC: PNC BANK NA) | (a) | 3.83% | 01/05/24 | 635,000 | 635,000 | |
RB (Lake Forest College) Series 2008 (LOC: NORTHERN TRUST COMPANY (THE)) | (a) | 3.80% | 01/05/24 | 3,340,000 | 3,340,000 | |
RB (Mercy Health) Series 2016 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
RB (North Shore Country Day School) Series 2003 (LOC: BMO BANK NA) | (a) | 3.81% | 01/05/24 | 9,500,000 | 9,500,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 9,390,000 | 9,390,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 8,400,000 | 8,400,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022D (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.87% | 01/02/24 | 27,205,000 | 27,205,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022F (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.87% | 01/02/24 | 19,050,000 | 19,050,000 | |
RB (Northshore Edward Elmhurst) Series 2022E (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 5,300,000 | 5,300,000 | |
RB (NorthShore Univ Health System) Series 2020B (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.87% | 01/02/24 | 43,385,000 | 43,385,000 | |
RB (Uhlich Children’s Advantage Network) Series 2006 (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.86% | 01/05/24 | 3,310,000 | 3,310,000 | |
RB (Univ of Chicago Medical Center) Series 2009D2 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 10,400,000 | 10,400,000 | |
RB (Univ of Chicago Medical Center) Series 2016B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 23,200,000 | 23,200,000 | |
RB (Univ of Chicago Medical Center) Series 2022A & 2016B (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 12,000,000 | 12,000,000 | |
RB (Univ of Chicago) Series 2015A (ESCROW) (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 2,600,000 | 2,600,000 |
RB (Univ of Chicago) Series 2018A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 4.12% | 01/02/24 | 1,550,000 | 1,550,000 | |
RB (YMCA of Metropolitan Chicago) Series 2001 (LOC: BMO BANK NA) | (a) | 3.90% | 01/05/24 | 8,600,000 | 8,600,000 | |
Refunding RB (Northwestern Memorial Health) Series 2021E | (a) | 3.75% | 01/05/24 | 16,020,000 | 16,020,000 | |
Refunding RB (OSF Healthcare System) Series 2018B (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 800,000 | 800,000 | |
Refunding RB (OSF Healthcare) Series 2018C (LOC: PNC BANK NA) | (a) | 4.15% | 01/02/24 | 450,000 | 450,000 | |
Illinois Housing Development Auth | ||||||
M/F Housing RB (Foxview I & II Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.82% | 01/05/24 | 22,430,000 | 22,430,000 | |
RB Series 2023P (LIQ: TD BANK NA) | (a) | 3.70% | 01/05/24 | 46,000,000 | 46,000,000 | |
Illinois Hsg Dev Auth 2016 | ||||||
M/F RB Series 2023C (LIQ: BANK OF MONTREAL) | (a) | 3.76% | 01/05/24 | 11,730,000 | 11,730,000 | |
Illinois Hsg Development Auth March 2016 S/F | ||||||
RB Series 2022D (LIQ: BANK OF MONTREAL) | (a) | 3.76% | 01/05/24 | 500,000 | 500,000 | |
RB Series 2022E (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.92% | 01/05/24 | 11,975,000 | 11,975,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Illinois Regional Transportation Auth | ||||||
GO Bonds Series 2018B (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
GO Bonds Series 2018B (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.92% | 01/05/24 | 9,000,000 | 9,000,000 | |
Illinois Toll Highway Auth | ||||||
Sr RB Series 2013A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.93% | 01/05/24 | 14,430,000 | 14,430,000 | |
Sr RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.93% | 01/05/24 | 1,310,000 | 1,310,000 | |
Lisle | ||||||
M/F Housing RB (Ashley of Lisle) Series 1985 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.94% | 01/05/24 | 27,000,000 | 27,000,000 | |
Palatine | ||||||
Special Facility RB (Little City for Community Development) Series 1998 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.79% | 01/05/24 | 4,100,000 | 4,100,000 | |
Will Cnty | ||||||
RB (ExxonMobil) Series 2001 | (a) | 4.00% | 01/02/24 | 18,180,000 | 18,180,000 | |
578,423,000 | ||||||
INDIANA 1.3% | ||||||
Gibson Cnty | ||||||
Pollution Control RB (Toyota Motor Manufacturing) Series 1997 | (a) | 4.18% | 01/05/24 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 1998 | (a) | 4.18% | 01/05/24 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 1999A | (a) | 4.18% | 01/05/24 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 2000A | (a) | 4.18% | 01/05/24 | 10,000,000 | 10,000,000 | |
Pollution Control RB (Toyota Motor Manufacturing) Series 2001B | (a) | 4.18% | 01/05/24 | 20,000,000 | 20,000,000 | |
Indiana Finance Auth | ||||||
Economic Development RB (Cargill) Series 2011 | (a) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
Environmental Refunding RB (Duke Energy Indiana) Series 2009A4 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 4.15% | 01/02/24 | 30,765,000 | 30,765,000 | |
Health Facilities RB (Baptist Healthcare) Series 2017A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,990,000 | 7,990,000 | |
Health System RB (Franciscan Alliance) Series 2016A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,720,000 | 2,720,000 | |
Hospital RB (Parkview Health System) Series 2009B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 4.20% | 01/05/24 | 10,000,000 | 10,000,000 | |
Hospital RB (Parkview Health System) Series 2009D (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 37,560,000 | 37,560,000 | |
Refunding RB (Trinity Health) Series 2008D2 | 3.76% | 01/04/24 | 17,470,000 | 17,470,000 | ||
Indiana Health Facility Financing Auth | ||||||
RB (Ascension Health Credit Group) Series 2003E-6 | (a) | 3.80% | 01/05/24 | 3,000,000 | 3,000,000 | |
RB (Ascension Health) Series 2005A2 | (a) | 3.80% | 01/05/24 | 585,000 | 585,000 | |
Indiana Housing & Community Development Agency | ||||||
S/F Mortgage RB Series 2017B3 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 10,100,000 | 10,100,000 | |
S/F Mortgage RB Series 2017C3 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 14,345,000 | 14,345,000 | |
Noblesville | ||||||
RB (GreyStone Apts) Series 2006A (LOC: BANK OF AMERICA NA) | (a) | 3.98% | 01/05/24 | 8,875,000 | 8,875,000 | |
207,410,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
IOWA 1.7% | ||||||
Iowa Finance Auth | ||||||
Midwestern Disaster Area RB (Cargill) Series 2009A | (a) | 3.90% | 01/05/24 | 37,000,000 | 37,000,000 | |
Midwestern Disaster Area RB (Cargill) Series 2009B | (a) | 3.90% | 01/05/24 | 65,947,000 | 65,947,000 | |
Midwestern Disaster Area RB (Cargill) Series 2012 | (a) | 3.90% | 01/05/24 | 31,500,000 | 31,500,000 | |
Midwestern Disaster Area RB (Cargill) Series 2012A | (a) | 3.90% | 01/05/24 | 73,200,000 | 73,200,000 | |
Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 (LOC: COBANK ACB) | (a) | 4.15% | 01/05/24 | 5,940,000 | 5,940,000 | |
RB (UnityPoint Health) Series 2018E (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.00% | 01/02/24 | 1,730,000 | 1,730,000 | |
RB (UnityPoint Health) Series 2018F (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 6,395,000 | 6,395,000 | |
Sewage and Solid Waste Disposal RB (Cargill) Series 2021 | (a) | 3.91% | 01/05/24 | 61,000,000 | 61,000,000 | |
282,712,000 | ||||||
KANSAS 0.3% | ||||||
Meade Cnty | ||||||
Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2021 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 7,000,000 | 7,000,000 | |
Meade Cnty Solid Waste Disposal | ||||||
Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2023 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 15,000,000 | 15,000,000 | |
Wichita | ||||||
Industrial RB (Cargill) Series VII-A 2018 | (a) | 3.91% | 01/05/24 | 25,800,000 | 25,800,000 | |
47,800,000 | ||||||
KENTUCKY 2.2% | ||||||
Boone Cnty | ||||||
Pollution Control Refunding RB (Duke Energy) Series 2010 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.95% | 01/05/24 | 20,480,000 | 20,480,000 | |
Hancock Cnty | ||||||
Solid Waste Disposal Facilities RB (NSA Ltd) Series 1998 (LOC: WELLS FARGO BANK NA) | (a) | 4.00% | 01/05/24 | 7,815,000 | 7,815,000 | |
Hopkinsville | ||||||
IDRB (Riken Elastomers Corp) Series 2007A (LOC: MUFG BANK LTD) | (a) | 3.90% | 01/05/24 | 5,500,000 | 5,500,000 | |
IDRB (Riken Elastomers Corp) Series 2013A (LOC: MUFG BANK LTD) | (a) | 3.90% | 01/05/24 | 4,500,000 | 4,500,000 | |
Kenton Cnty Airport Board | ||||||
Special Facilities RB (FlightSafety) Series 2001A | (a) | 3.93% | 01/05/24 | 4,400,000 | 4,400,000 | |
Louisville & Jefferson Cnty Metro Government | ||||||
Health System RB (Norton Health) Series 2023C (LOC: TRUIST BANK) | (a) | 4.00% | 01/02/24 | 70,070,000 | 70,070,000 | |
Health System RB (Norton Healthcare) Series 2011A (LOC: PNC BANK NA) | (a) | 3.79% | 01/05/24 | 11,020,000 | 11,020,000 | |
Health System RB (Norton Healthcare) Series 2011B (LOC: PNC BANK NA) | (a) | 4.05% | 01/02/24 | 17,700,000 | 17,700,000 | |
Health System RB (Norton Healthcare) Series 2023D (LOC: TRUIST BANK) | (a) | 4.00% | 01/02/24 | 68,065,000 | 68,065,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Louisville & Jefferson Cnty Metro Sewer District | ||||||
Sewer & Drainage System RB Series 2023C (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,500,000 | 3,500,000 | |
Sewer & Drainage System Sub CP Series 2023A1 (LIQ: BANK OF AMERICA NA) | 3.70% | 01/03/24 | 9,756,600 | 9,756,600 | ||
Sewer & Drainage System Sub CP Series 2023A1 (LIQ: BANK OF AMERICA NA) | 3.75% | 01/24/24 | 17,000,000 | 17,000,000 | ||
Sewer & Drainage System Sub CP Series 2023A2 (LIQ: JPMORGAN CHASE BANK NA) | 3.55% | 01/03/24 | 80,000,000 | 80,000,000 | ||
Sewer & Drainage System Sub CP Series 2023A2 (LIQ: JPMORGAN CHASE BANK NA) | 3.78% | 01/24/24 | 21,390,000 | 21,390,000 | ||
Sewer & Drainage System Sub CP Series 2023A2 (LIQ: JPMORGAN CHASE BANK NA) | 3.82% | 01/24/24 | 15,000,000 | 15,000,000 | ||
356,196,600 | ||||||
LOUISIANA 1.8% | ||||||
Calcasieu Parish IDB | ||||||
Refunding RB (Hydroserve Westlake) Series 1999 (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.05% | 01/03/24 | 01/05/24 | 5,100,000 | 5,100,000 |
East Baton Rouge Parish IDB | ||||||
RB (ExxonMobil) Series 2010A | (a) | 3.95% | 01/02/24 | 72,100,000 | 72,100,000 | |
RB (ExxonMobil) Series 2010B | (a) | 3.95% | 01/02/24 | 117,795,000 | 117,795,000 | |
Louisiana HFA | ||||||
M/F Housing RB (Jefferson Lakes Apts) Series 2007 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.01% | 01/05/24 | 11,550,000 | 11,550,000 | |
M/F Housing RB (Lapalco Court Apts) Series 2007 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.01% | 01/05/24 | 6,400,000 | 6,400,000 | |
Louisiana Local Government Environmental Facilities & Community Development Auth | ||||||
RB (Louise S. McGehee School) Series 2010 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.15% | 01/05/24 | 3,220,000 | 3,220,000 | |
Louisiana Public Facilities Auth | ||||||
Hospital RB (Louisiana Children’s Medical Center) Series 2017A (LOC: UBS AG) | (a) | 3.71% | 01/05/24 | 53,100,000 | 53,100,000 | |
Hospital RB (Louisiana Children’s Medical Center) Series 2017B (LOC: UBS AG) | (a) | 3.85% | 01/05/24 | 27,500,000 | 27,500,000 | |
Plaquemines Port, Harbor & Terminal District | ||||||
Port Facilities Refunding RB Series 1984A (LOC: WELLS FARGO BANK NA) | 4.00% | 03/15/24 | 5,000,000 | 5,000,000 | ||
St. Tammany Parish Development District | ||||||
RB (BCS Development) Series 2008 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.15% | 01/05/24 | 2,540,000 | 2,540,000 | |
304,305,000 | ||||||
MAINE 0.6% | ||||||
Maine State Housing Auth | ||||||
Mortgage Purchase Bonds Series 2015E3 (LIQ: BANK OF AMERICA NA) | (a) | 3.89% | 01/05/24 | 29,000,000 | 29,000,000 | |
Mortgage Purchase Bonds Series 2022C (LIQ: UBS AG) | (a) | 4.01% | 01/05/24 | 69,765,000 | 69,765,000 | |
98,765,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MARYLAND 0.3% | ||||||
Baltimore Cnty | ||||||
GO Bonds Series 2018 (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.92% | 01/05/24 | 2,570,000 | 2,570,000 | |
Maryland Community Development Administration | ||||||
M/F Housing Development RB (Shakespeare Park Apts) Series 2008B (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.87% | 01/05/24 | 7,200,000 | 7,200,000 | |
Maryland IDA | ||||||
Economic Development RB (Paul Reed Smith Guitars) Series 2008 (LOC: PNC BANK NA) | (a) | 3.90% | 01/05/24 | 5,525,000 | 5,525,000 | |
Montgomery Cnty Housing Opportunities Commission | ||||||
M/F Housing RB Series 2023A (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 19,945,000 | 19,945,000 | |
Univ System of Maryland | ||||||
Auxiliary Facility & Tuition RB Series 2017A (LIQ: US BANK NATIONAL ASSOCIATION) | (b)(c)(d) | 4.10% | 01/02/24 | 6,500,000 | 6,500,000 | |
Washington Suburban Sanitary District | ||||||
GO BAN Series A (LIQ: TD BANK NA) | (a) | 4.07% | 01/02/24 | 7,400,000 | 7,400,000 | |
49,140,000 | ||||||
MASSACHUSETTS 2.4% | ||||||
Boston Water & Sewer Commission | ||||||
CP BAN Series A (LOC: TD BANK NA) | 3.90% | 01/11/24 | 35,200,000 | 35,200,000 | ||
Massachusetts | ||||||
Commonwealth Transportation Fund RB Series 2022A&B (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.87% | 01/05/24 | 5,625,000 | 5,625,000 | |
Commonwealth Transportation Fund RB Series 2023A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.87% | 01/05/24 | 6,400,000 | 6,400,000 | |
Commonwealth Transportation Fund RB Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 7,500,000 | 7,500,000 | |
Commonwealth Transportation Fund RB Series 2023B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.87% | 01/05/24 | 5,600,000 | 5,600,000 | |
GO BAN Series A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 55,000,000 | 55,000,000 |
GO Bonds Series 2016B (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 22,540,000 | 22,540,000 | |
GO Bonds Series 2022C (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.89% | 01/05/24 | 4,000,000 | 4,000,000 | |
GO Bonds Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,200,000 | 3,200,000 | |
GO Bonds Series 2023D (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.87% | 01/05/24 | 8,500,000 | 8,500,000 | |
GO Refunding Bonds Series 2019A | 5.00% | 01/01/24 | 435,000 | 435,000 | ||
RB (Rail Enhancement) Series 2022A (LIQ: DEUTSCHE BANK AG) | (b)(c)(d) | 3.92% | 01/05/24 | 17,000,000 | 17,000,000 | |
Massachusetts Bay Transportation Auth | ||||||
Sub Sales Tax Bonds Series 2022A (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 1,000,000 | 1,000,000 | |
Transportation System Bonds Series 2000A1 (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 20,185,000 | 20,185,000 | |
Massachusetts Dept of Transportation | ||||||
Highway System Sub Refunding RB Series 2022A1 (LIQ: TD BANK NA) | (a) | 3.82% | 01/05/24 | 40,200,000 | 40,200,000 | |
Metropolitan Highway System Sr RB Series 2010A2 (LOC: TD BANK NA) | (a) | 3.75% | 01/05/24 | 17,670,000 | 17,670,000 | |
Metropolitan Highway System Sub Refunding RB (Commonwealth Contract Assistance) Series 2022A2 (LIQ: US BANK NATIONAL ASSOCIATION) | (a) | 3.79% | 01/05/24 | 26,025,000 | 26,025,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Massachusetts Development Finance Agency | ||||||
RB (Chelsea Jewish Lifecare) Series 2019 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(b) | 4.03% | 01/05/24 | 47,000,000 | 47,000,000 | |
RB (CIL Realty) Series 2011 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 2,345,000 | 2,345,000 | |
RB (CIL Realty) Series 2016 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 11,800,000 | 11,800,000 | |
RB (College of the Holy Cross) Series 2002 (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 5,050,000 | 5,050,000 | |
RB (Partners HealthCare) Series T2 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 5,600,000 | 5,600,000 |
Massachusetts HFA | ||||||
Housing RB Series 2018B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 4.21% | 01/02/24 | 400,000 | 400,000 | |
Massachusetts Port Auth | ||||||
RB Series 2016B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 4.23% | 01/02/24 | 1,235,000 | 1,235,000 | |
RB Series 2021E (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,810,000 | 2,810,000 | |
Massachusetts Water Resources Auth | ||||||
Water CP Series 2016 (LOC: TD BANK NA) | 3.63% | 03/13/24 | 4,600,000 | 4,600,000 | ||
Univ of Massachusetts Building Auth | ||||||
CP Notes Series 2013A1 (LIQ: TD BANK NA) | 3.95% | 01/11/24 | 36,688,000 | 36,688,000 | ||
393,608,000 | ||||||
MICHIGAN 2.7% | ||||||
Grand Traverse Hospital Finance Auth | ||||||
Refunding RB (Munson Healthcare) Series 2019C (LOC: PNC BANK NA) | (a) | 4.10% | 01/02/24 | 13,375,000 | 13,375,000 | |
Michigan Finance Auth | ||||||
Hospital RB (CHE Trinity Health) Series 2013MI1 | 3.81% | 03/01/24 | 14,500,000 | 14,500,000 | ||
Hospital RB (CHE Trinity Health) Series 2013MI2 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 7,775,000 | 7,775,000 | |
Hospital RB (CHE Trinity Health) Series 2013MI3 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 28,700,000 | 28,700,000 |
Hospital Refunding RB (Trinity Health) Series 2016MI (LIQ: UBS AG) | (b)(c)(d) | 3.90% | 01/05/24 | 2,600,000 | 2,600,000 | |
Hospital Refunding RB (Trinity Health) Series 2017MI (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 4.22% | 01/02/24 | 3,135,000 | 3,135,000 | |
Hospital Refunding RB (Trinity Health) Series 2017MI (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 15,330,000 | 15,330,000 | |
Hospital Refunding RB (Trinity Health) Series 2017MIA & MI2022A & MI2019A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,405,000 | 4,405,000 | |
Michigan Housing Development Auth | ||||||
Rental Housing RB Series 2000A (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.83% | 01/05/24 | 8,400,000 | 8,400,000 | |
Rental Housing RB Series 2008A (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.83% | 01/05/24 | 24,420,000 | 24,420,000 | |
Rental Housing RB Series 2016D (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.96% | 01/05/24 | 8,670,000 | 8,670,000 | |
Rental Housing RB Series 2016E (LIQ: UBS AG) | (a) | 3.87% | 01/05/24 | 11,095,000 | 11,095,000 | |
Rental Housing RB Series 2023A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,500,000 | 7,500,000 | |
S/F Mortgage RB Series 2007B (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 49,020,000 | 49,020,000 | |
S/F Mortgage RB Series 2007F (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 4,400,000 | 4,400,000 | |
S/F Mortgage RB Series 2022B (LOC: BARCLAYS BANK PLC) | (a) | 3.80% | 01/05/24 | 56,600,000 | 56,600,000 | |
S/F Mortgage RB Series 2022D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 7,215,000 | 7,215,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Michigan Strategic Fund | ||||||
Limited Obligation RB (Henry Ford Museum & Greenfield Village) Series 2002 (LOC: PNC BANK NA) | (a) | 3.83% | 01/05/24 | 29,400,000 | 29,400,000 | |
Limited Obligation RB (Kroger) Series 2010 (LOC: BANK OF NOVA SCOTIA) | (a) | 3.91% | 01/05/24 | 40,335,000 | 40,335,000 | |
Limited Obligation RB (Tubelite) Series 2012 (LOC: WELLS FARGO BANK NA) | (a) | 3.91% | 01/05/24 | 10,000,000 | 10,000,000 | |
LT GO Bonds (Greenville Venture Partners) Series 2018 (LOC: BMO BANK NA) | (a) | 4.15% | 01/05/24 | 5,250,000 | 5,250,000 | |
Recovery Zone Facility RB (CS Facilities) Series 2010 (LOC: BMO BANK NA) | (a) | 4.08% | 01/05/24 | 31,045,000 | 31,045,000 | |
Univ of Michigan | ||||||
CP Notes Series L1 | 3.78% | 03/05/24 | 21,815,000 | 21,815,000 | ||
Extendible CP Notes Series L2 | 3.53% | 01/04/24 | 23,105,000 | 23,105,000 | ||
General RB Series 2009B | 3.64% | 03/06/24 | 13,250,000 | 13,250,000 | ||
441,340,000 | ||||||
MINNESOTA 1.0% | ||||||
East Grand Forks | ||||||
Solid Waste Disposal RB (American Crystal Sugar) Series 2019 (LOC: COBANK ACB) | (a) | 4.15% | 01/05/24 | 8,000,000 | 8,000,000 | |
Edina | ||||||
M/F Housing Refunding RB (Vernon Terrace Apts) Series 2004 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.95% | 01/05/24 | 5,705,000 | 5,705,000 | |
Grant Cnty | ||||||
IDRB (Riverview) Series 2020 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 20,000,000 | 20,000,000 | |
Moorehead | ||||||
Refunding RBs (American Crystal Sugar Comp) Series 2020 (LOC: COBANK ACB) | (a) | 4.08% | 01/05/24 | 7,500,000 | 7,500,000 | |
Norman Cnty | ||||||
Solid Waste Disposal RB (Riverview) Series 2022 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 20,000,000 | 20,000,000 | |
Rochester | ||||||
Health Care Facilities RB (Mayo Clinic) Series 2014 | 3.68% | 03/05/24 | 60,000,000 | 60,000,000 | ||
Health Care Facilities RB (Mayo Clinic) Series 2016 | (a) | 3.78% | 01/05/24 | 23,640,000 | 23,640,000 | |
St. Louis Park | ||||||
M/F Housing Refunding RB (Knollwood Place Apts) Series 2005 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.95% | 01/05/24 | 12,300,000 | 12,300,000 | |
M/F Housing Refunding RB (Westwind Apts) Series 2003 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.95% | 01/05/24 | 5,565,000 | 5,565,000 | |
Swift Cnty | ||||||
IDRB (Riverview LLP) Series 2018 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 10,000,000 | 10,000,000 | |
172,710,000 | ||||||
MISSISSIPPI 3.0% | ||||||
Mississippi Business Finance Corp | ||||||
Gulf Opportunity Zone IDRB (Chevron) Series 2010A | (a) | 3.80% | 01/05/24 | 31,500,000 | 31,500,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2010C | (a) | 3.78% | 01/05/24 | 19,750,000 | 19,750,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2011D | (a) | 4.15% | 01/02/24 | 2,900,000 | 2,900,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2011E | (a) | 3.95% | 01/02/24 | 46,100,000 | 46,100,000 | |
IDRB (Chevron) Series 2007A | (a) | 3.95% | 01/02/24 | 198,250,000 | 198,250,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
IDRB (Chevron) Series 2007B | (a) | 3.95% | 01/02/24 | 3,250,000 | 3,250,000 | |
IDRB (Chevron) Series 2007C | (a) | 3.95% | 01/02/24 | 12,135,000 | 12,135,000 | |
IDRB (Chevron) Series 2007E | (a) | 3.95% | 01/02/24 | 2,770,000 | 2,770,000 | |
IDRB (Chevron) Series 2010H | (a) | 4.15% | 01/02/24 | 10,990,000 | 10,990,000 | |
IDRB (Chevron) Series 2011A | (a) | 4.15% | 01/02/24 | 33,285,000 | 33,285,000 | |
IDRB (Chevron) Series 2011B | (a) | 4.15% | 01/02/24 | 4,400,000 | 4,400,000 | |
Port Facilities Refunding RB (Chevron) Series 2023 | (a) | 3.95% | 01/02/24 | 107,850,000 | 107,850,000 | |
Mississippi Home Corp | ||||||
M/F Housing RB (Edgewood Manor Apts) Series 20082 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 4.01% | 01/05/24 | 5,000,000 | 5,000,000 | |
M/F Housing RB (William Bell Apts) Series 20081 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.01% | 01/05/24 | 5,160,000 | 5,160,000 | |
Mississippi State Univ Educational Building Corp | ||||||
Refunding RB (Mississippi State Univ) Series 2017A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 9,760,000 | 9,760,000 | |
493,100,000 | ||||||
MISSOURI 0.4% | ||||||
Kansas City IDA | ||||||
M/F Housing RB (Clay Terrace Apts) Series 2006 (LOC: BANK OF AMERICA NA) | (a) | 3.96% | 01/05/24 | 8,435,000 | 8,435,000 | |
Metropolitan St Louis Sewer District | ||||||
Wastewater System RB Series 2016C (LIQ: US BANK NATIONAL ASSOCIATION) | (b)(c)(d) | 4.10% | 01/02/24 | 10,530,000 | 10,530,000 | |
Missouri Health & Educational Facilities Auth | ||||||
Health Facilities RB (SSM Health) Series 2019A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.91% | 01/05/24 | 17,500,000 | 17,500,000 | |
Health Facilities RB (SSM Health) Series 2022A (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (b)(c)(d) | 4.07% | 01/04/24 | 06/03/24 | 10,520,000 | 10,520,000 |
St Louis County | ||||||
Special Obligation RB (Convention Center) Series 2022A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 9,105,000 | 9,105,000 | |
St. Louis Cnty IDA | ||||||
M/F Housing RB (Whispering Lakes Apts) Series 1995 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.94% | 01/05/24 | 5,335,000 | 5,335,000 | |
Taney Cnty IDA | ||||||
RB (Keeter Heights) Series 2006 (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 4.19% | 01/05/24 | 1,460,000 | 1,460,000 | |
62,885,000 | ||||||
NEBRASKA 0.3% | ||||||
Central Plains Energy | ||||||
Gas RB Series 2022-1 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.92% | 01/05/24 | 655,000 | 655,000 | |
Douglas Cnty Hosp Auth NO 2 | ||||||
Health Facilities RB (Children’s Hospital) Series 2017 (LOC: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 4,435,000 | 4,435,000 | |
Nebraska Investment Finance Auth | ||||||
M/F Housing RB (Irvington Heights Apts) Series 2007A (LOC: CITIBANK NA) | (a) | 3.90% | 01/05/24 | 9,535,000 | 9,535,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Washington Cnty | ||||||
IDRB (Cargill) Series 2010 | (a) | 3.90% | 01/05/24 | 3,880,000 | 3,880,000 | |
IDRB (Cargill) Series 2010B | (a) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
RB (Cargill) Series 2019 | (a) | 3.91% | 01/05/24 | 32,000,000 | 32,000,000 | |
53,505,000 | ||||||
NEVADA 0.8% | ||||||
Clark Cnty | ||||||
Airport System Sub Lien RB Series 2008C1 (LOC: BANK OF AMERICA NA) | (a) | 3.81% | 01/05/24 | 63,780,000 | 63,780,000 | |
LT GO Refunding Bonds Series 2017 (LIQ: US BANK NATIONAL ASSOCIATION) | (b)(c)(d) | 4.10% | 01/02/24 | 8,600,000 | 8,600,000 | |
Las Vegas Valley Water District | ||||||
GO Water Bonds Series 2023A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,615,000 | 5,615,000 | |
Nevada Dept of Business & Industry | ||||||
RB (Brightline West Passenger Rail) Series 2020A (ESCROW) | 3.70% | 01/31/24 | 930,000 | 930,000 | ||
Nevada Housing Division | ||||||
Housing RB (Vintage at Laughlin Apts) Series 2007 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.00% | 01/05/24 | 5,510,000 | 5,510,000 | |
Housing RB (Vista Creek Apts) Series 2007 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 4.00% | 01/05/24 | 18,515,000 | 18,515,000 | |
M/F Housing RB (Apache Pines Apts) Series 1999A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 9,500,000 | 9,500,000 | |
M/F Housing RB (Sierra Pointe Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 8,565,000 | 8,565,000 | |
M/F Housing RB (Sonoma Palms Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 16,000,000 | 16,000,000 | |
137,015,000 | ||||||
NEW HAMPSHIRE 0.7% | ||||||
New Hampshire Business Finance Auth | ||||||
Recovery Zone Facility RB (Lonza Biologics) Series 2010 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.90% | 01/05/24 | 15,000,000 | 15,000,000 | |
Solid Waste Disposal RB (Lonza Biologics) Series 2003 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.91% | 01/05/24 | 30,000,000 | 30,000,000 | |
Solid Waste Disposal RB (Lonza Biologics) Series 2005 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.91% | 01/05/24 | 19,500,000 | 19,500,000 | |
Solid Waste Disposal RB (Lonza Biologics) Series 2017 (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a)(b) | 3.91% | 01/05/24 | 45,000,000 | 45,000,000 | |
109,500,000 | ||||||
NEW JERSEY 0.3% | ||||||
Berkeley Township | ||||||
BAN Series 2023B | 5.00% | 08/27/24 | 11,989,000 | 12,098,132 | ||
Brigantine NJ | ||||||
BAN | 5.00% | 09/25/24 | 8,650,000 | 8,729,094 | ||
Hopewell Township | ||||||
BAN | 4.75% | 09/25/24 | 12,193,000 | 12,284,779 | ||
New Jersey Health Care Facilities Financing Auth | ||||||
Hospital Capital Asset RB Series 1985B (LOC: TD BANK NA) | (a) | 3.80% | 01/05/24 | 3,245,000 | 3,245,000 | |
RB (Atlantic Health) Series 2008B (LOC: BANK OF AMERICA NA) | (a) | 3.80% | 01/05/24 | 2,530,000 | 2,530,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
New Jersey Housing & Mortgage Finance Agency | ||||||
M/F Housing RB (Meadow Brook Apt) Series 2006A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.85% | 01/05/24 | 3,000,000 | 3,000,000 | |
41,887,005 | ||||||
NEW YORK 22.6% | ||||||
Albany City SD | ||||||
GO BAN Series 2023B | 4.75% | 06/27/24 | 23,900,000 | 24,016,942 | ||
Bayport Blue Point UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/26/24 | 15,000,000 | 15,088,829 | ||
Bethlehem CSD | ||||||
BAN 2023A | 5.00% | 07/12/24 | 2,703,456 | 2,721,232 | ||
BAN 2023B | 4.75% | 07/12/24 | 18,700,000 | 18,813,614 | ||
Burnt Hills - Ballston Lake CSD | ||||||
GO BAN Series 2023 | 4.50% | 06/21/24 | 15,600,000 | 15,661,151 | ||
Carmel | ||||||
BAN 2023 | 5.00% | 09/27/24 | 14,841,000 | 14,977,720 | ||
Cazenovia CSD | ||||||
GO BAN 2023 | 4.75% | 07/12/24 | 14,000,000 | 14,082,187 | ||
Cheektowaga-Maryvale UFSD | ||||||
BAN 2023 | 5.00% | 07/24/24 | 12,000,000 | 12,081,891 | ||
Connetquot CSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 29,000,000 | 29,181,302 | ||
Deer Park UFSD | ||||||
TAN Series 2023-2024 | 4.75% | 06/25/24 | 16,500,000 | 16,594,928 | ||
East Hampton UFSD | ||||||
TAN 2023-2024 Series B | 4.75% | 06/27/24 | 5,000,000 | 5,026,149 | ||
East Islip UFSD | ||||||
GO TAN 2023 | 5.25% | 06/27/24 | 6,000,000 | 6,035,444 | ||
East Rochester Hsg Auth | ||||||
Housing RB (Park Ridge Nursing Home) Series 2008 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 3,230,000 | 3,230,000 | |
Eastport South Manor CSD | ||||||
BAN 2023 Series B | 4.75% | 05/24/24 | 25,000,000 | 25,110,080 | ||
TAN 2023-2024 | 4.75% | 06/21/24 | 12,000,000 | 12,058,497 | ||
Hampton Bays UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/21/24 | 10,500,000 | 10,563,065 | ||
Harborfields CSD | ||||||
BAN 2023 | 4.75% | 09/06/24 | 19,295,073 | 19,437,582 | ||
TAN 2023-2024 | 4.75% | 06/21/24 | 15,000,000 | 15,077,128 | ||
Hauppauge UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/25/24 | 12,000,000 | 12,077,175 | ||
Huntington UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 16,000,000 | 16,091,667 | ||
Jericho UFSD | ||||||
TAN 2023-2024 | 4.75% | 05/23/24 | 13,000,000 | 13,049,873 | ||
Kenmore Tonawanda UFSD | ||||||
GO BAN 2023 | 4.75% | 06/27/24 | 31,000,000 | 31,164,910 | ||
GO BAN Series 2023A | 4.50% | 08/09/24 | 3,177,400 | 3,191,189 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Kings Park CSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 10,300,000 | 10,358,837 | ||
Kingston | ||||||
BAN 2023A | 4.00% | 08/15/24 | 5,000,000 | 5,000,000 | ||
BAN 2023B | 4.75% | 08/15/24 | 7,718,686 | 7,772,496 | ||
Lewiston-Porter CSD | ||||||
BAN 2023 | 4.75% | 06/25/24 | 16,325,000 | 16,405,549 | ||
Lindenhurst Union Free SD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 24,500,000 | 24,655,413 | ||
Manhasset UFSD | ||||||
BAN 2023 | 5.00% | 08/30/24 | 11,000,000 | 11,102,408 | ||
TAN 2023-2024 | 5.00% | 06/21/24 | 4,000,000 | 4,026,780 | ||
Massapequa UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 6,000,000 | 6,035,384 | ||
Metropolitan Transportation Auth | ||||||
Dedicated Tax Fund Refunding Bonds Series 2008A-1 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 785,000 | 785,000 | |
Dedicated Tax Fund Refunding Bonds Series 2008A-2A (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 6,300,000 | 6,300,000 | |
Transportation RB Series 2005D2 (LOC: BANK OF MONTREAL) | (a) | 4.10% | 01/02/24 | 9,350,000 | 9,350,000 | |
Transportation RB Series 2015E3 (LOC: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 101,480,000 | 101,480,000 | |
Transportation Refunding RB Series 2012G4 (LOC: BANK OF MONTREAL) | (a) | 4.10% | 01/02/24 | 6,265,000 | 6,265,000 | |
Middle Country CSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 20,000,000 | 20,136,648 | ||
Monroe Cnty IDA | ||||||
Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 12,950,000 | 12,950,000 | |
New Rochelle IDA | ||||||
IDRB (West End Phase I) Series 2006 (LOC: CITIBANK NA) | (a) | 3.98% | 01/05/24 | 3,195,000 | 3,195,000 | |
New York City | ||||||
GO Bonds Fiscal 2006 Series I5 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 22,500,000 | 22,500,000 |
GO Bonds Fiscal 2006 Series I-8 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 1,890,000 | 1,890,000 | |
GO Bonds Fiscal 2012 Series A5 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 14,165,000 | 14,165,000 | |
GO Bonds Fiscal 2012 Series D3A (LIQ: BANK OF NEW YORK MELLON/THE) | (a) | 4.07% | 01/02/24 | 400,000 | 400,000 | |
GO Bonds Fiscal 2012 Series D3B (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,950,000 | 5,950,000 | |
GO Bonds Fiscal 2012 Series G6 (LOC: MIZUHO BANK LTD) | (a) | 3.75% | 01/02/24 | 4,415,000 | 4,415,000 | |
GO Bonds Fiscal 2013 Series A3 (LOC: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 18,400,000 | 18,400,000 | |
GO Bonds Fiscal 2013 Series F3 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 83,330,000 | 83,330,000 | |
GO Bonds Fiscal 2014 Series I3 (LOC: CITIBANK NA) | (a) | 3.76% | 01/05/24 | 5,045,000 | 5,045,000 | |
GO Bonds Fiscal 2015 Series F5 (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 26,865,000 | 26,865,000 | |
GO Bonds Fiscal 2015 Series F7 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
GO Bonds Fiscal 2017 Series A5 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 44,640,000 | 44,640,000 | |
GO Bonds Fiscal 2017 Series A6 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.00% | 01/02/24 | 43,810,000 | 43,810,000 | |
GO Bonds Fiscal 2017 Series A7 (LOC: BANK OF MONTREAL) | (a) | 4.08% | 01/02/24 | 25,705,000 | 25,705,000 | |
GO Bonds Fiscal 2018 Series B4 (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 14,000,000 | 14,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
GO Bonds Fiscal 2018 Series E1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 6,275,000 | 6,275,000 | |
GO Bonds Fiscal 2018 Series E4 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 12,000,000 | 12,000,000 | |
GO Bonds Fiscal 2018 Series E5 (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 3,450,000 | 3,450,000 | |
GO Bonds Fiscal 2019 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.10% | 01/02/24 | 33,370,000 | 33,370,000 | |
GO Bonds Fiscal 2020 Series D (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,650,000 | 8,650,000 | |
GO Bonds Fiscal 2022 Series D1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,400,000 | 2,400,000 | |
GO Bonds Fiscal 2022 Series D3 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 88,640,000 | 88,640,000 | |
GO Bonds Fiscal 2022 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 22,315,000 | 22,315,000 | |
GO Bonds Fiscal 2023 Series A1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,500,000 | 2,500,000 | |
GO Bonds Fiscal 2023 Series A3 (LIQ: BANK OF MONTREAL) | (a) | 4.00% | 01/02/24 | 2,800,000 | 2,800,000 | |
GO Bonds Fiscal 2023 Series A4 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 12,390,000 | 12,390,000 | |
New York City Housing Development Corp | ||||||
M/F Housing RB Series 2018K (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,160,000 | 3,160,000 | |
M/F Housing RB Series 2018L1 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.90% | 01/05/24 | 91,000,000 | 91,000,000 | |
M/F Housing RB Series 2018L2 (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 11,100,000 | 11,100,000 | |
M/F Housing RB Series 2020I3 (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 1,630,000 | 1,630,000 | |
M/F Housing RB Series 2022C3 (LIQ: BARCLAYS BANK PLC) | (a) | 3.85% | 01/05/24 | 19,050,000 | 19,050,000 | |
M/F Housing RB Series 2022F3 (LIQ: UBS AG) | (a) | 3.85% | 01/05/24 | 29,025,000 | 29,025,000 | |
M/F Housing RB Series 2023A3 (LIQ: TD BANK NA) | (a) | 3.75% | 01/05/24 | 4,500,000 | 4,500,000 | |
M/F Housing RB Series 2023E3 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.90% | 01/05/24 | 23,015,000 | 23,015,000 | |
M/F Housing RB Series B1A & C1A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.53% | 01/02/24 | 13,560,000 | 13,560,000 | |
M/F Mortgage RB (Beacon Mews) Series 2006A (LOC: CITIBANK NA) | (a) | 3.90% | 01/05/24 | 4,100,000 | 4,100,000 | |
M/F Mortgage RB (East Clarke Place Associates) Series 2005A (LOC: JPMORGAN CHASE BANK NA) | (a) | 4.00% | 01/05/24 | 2,200,000 | 2,200,000 | |
New York City Municipal Water Finance Auth | ||||||
Water & Sewer 2nd Resolution RB Fiscal 2022 Series CC1 (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,100,000 | 2,100,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2007 Series CC2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.95% | 01/02/24 | 12,000,000 | 12,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 37,250,000 | 37,250,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2013 Series AA2 (LIQ: BARCLAYS BANK PLC) | (a) | 3.80% | 01/05/24 | 30,000,000 | 30,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA (LIQ: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 15,000,000 | 15,000,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 9,770,000 | 9,770,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 22,580,000 | 22,580,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA6 (LIQ: MIZUHO BANK LTD) | (a) | 4.05% | 01/02/24 | 14,665,000 | 14,665,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 27,200,000 | 27,200,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 10,275,000 | 10,275,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD Fiscal 2018 Series BB1&CC1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,835,000 | 1,835,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2022 & 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,125,000 | 5,125,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,780,000 | 4,780,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,255,000 | 2,255,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,740,000 | 2,740,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 (LIQ: MIZUHO BANK LTD) | (a) | 4.10% | 01/02/24 | 56,435,000 | 56,435,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC (LIQ: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 49,500,000 | 49,500,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & 2020 Series BB (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 13,900,000 | 13,900,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,800,000 | 1,800,000 | |
Water & Sewer System RB Fiscal 2008 Series BB3&BB4 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 61,985,000 | 61,985,000 | |
Water & Sewer System RB Fiscal 2010 Series CC (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 51,735,000 | 51,735,000 | |
Water & Sewer System RB Fiscal 2011 Series DD1 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 1,600,000 | 1,600,000 | |
Water & Sewer System RB Fiscal 2015 Series BB2 (LIQ: MIZUHO BANK LTD) | (a) | 4.00% | 01/02/24 | 70,725,000 | 70,725,000 | |
Water & Sewer System RB Fiscal 2016 Series AA3 (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 10,125,000 | 10,125,000 | |
Water & Sewer System RB Fiscal 2017 Series BB1B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.00% | 01/02/24 | 64,895,000 | 64,895,000 | |
Water & Sewer System RB Fiscal 2019 Series CC (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 54,100,000 | 54,100,000 | |
Water & Sewer System RB Fiscal 2021 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,615,000 | 3,615,000 | |
Water & Sewer System RB Fiscal 2023 Series AA1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
Water & Sewer System RB Fiscal 2023 Series AA3 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,000,000 | 1,000,000 | |
New York City Transitional Finance Auth | ||||||
Building Aid RB Fiscal 2018 Series S1 (LIQ: CITIBANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,000,000 | 6,000,000 | |
Building Aid RB Fiscal 2021 Series S1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 6,455,000 | 6,455,000 | |
Future Tax Secured Sub Bonds Fiscal 2014 Series D3 (LIQ: MIZUHO BANK LTD) | (a) | 4.05% | 01/02/24 | 13,850,000 | 13,850,000 | |
Future Tax Secured Sub Bonds Fiscal 2014 Series D4 (LIQ: MIZUHO BANK LTD) | (a) | 3.83% | 01/05/24 | 1,350,000 | 1,350,000 | |
Future Tax Secured Sub Bonds Fiscal 2015 Series E3 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 23,140,000 | 23,140,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (LIQ: BANK OF AMERICA NA) | (a) | 4.00% | 01/02/24 | 22,580,000 | 22,580,000 | |
Future Tax Secured Sub Bonds Fiscal 2016 Series A5 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 4.10% | 01/02/24 | 5,300,000 | 5,300,000 | |
Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 75,625,000 | 75,625,000 | |
Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 4.22% | 01/02/24 | 1,975,000 | 1,975,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 129,640,000 | 129,640,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.10% | 01/02/24 | 83,915,000 | 83,915,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series C1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
Future Tax Secured Sub Bonds Fiscal 2021 Series E1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 3,670,000 | 3,670,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (LIQ: UBS AG) | (a) | 4.00% | 01/02/24 | 148,260,000 | 148,260,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,500,000 | 3,500,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,465,000 | 6,465,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 3,990,000 | 3,990,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 13,500,000 | 13,500,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (b)(c)(d) | 4.02% | 01/04/24 | 01/25/24 | 5,000,000 | 5,000,000 |
Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & 2023F1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 3,295,000 | 3,295,000 | |
New York State Dormitory Auth | ||||||
NYC Court Facilities Lease RB Series 2005B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 14,000,000 | 14,000,000 |
RB (Memorial Sloan-Kettering Cancer Center) Series 20221A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%) | (b)(c)(d) | 4.04% | 01/04/24 | 01/11/24 | 29,100,000 | 29,100,000 |
RB (Teresian House) Series 2003 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 10,040,000 | 10,040,000 | |
State Personal Income Tax RB Series 2015A (LIQ: CITIBANK NA) | (b)(c)(d) | 4.00% | 01/04/24 | 01/05/24 | 16,485,000 | 16,485,000 |
State Personal Income Tax RB Series 2019D (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,085,000 | 7,085,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 600,000 | 600,000 | |
State Personal Income Tax RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 7,420,000 | 7,420,000 | |
State Personal Income Tax RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 12,585,000 | 12,585,000 | |
State Personal Income Tax RB Series 2020A 2021A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,175,000 | 6,175,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
State Personal Income Tax RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 4,810,000 | 4,810,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 9,215,000 | 9,215,000 | |
State Sales Tax RB Series 2018A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,635,000 | 1,635,000 | |
State Sales Tax RB Series 2018C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 910,000 | 910,000 | |
New York State Environmental Facilities Corp | ||||||
State Revolving Funds RB Series 2022B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 5,350,000 | 5,350,000 | |
New York State HFA | ||||||
Housing RB (100 Maiden Lane) Series 2004A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.75% | 01/05/24 | 100,000 | 100,000 | |
Housing RB (160 Madison Ave ) Series 2013A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.75% | 01/02/24 | 12,240,000 | 12,240,000 | |
Housing RB (250 W 93rd St) Series 2005A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.82% | 01/05/24 | 27,425,000 | 27,425,000 | |
Housing RB (316 11th Ave) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 38,640,000 | 38,640,000 | |
Housing RB (600 W 42nd Street) Series 2007A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 39,000,000 | 39,000,000 | |
Housing RB (750 6th Ave) Series 1998A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.95% | 01/05/24 | 37,500,000 | 37,500,000 | |
Housing RB (750 6th Ave) Series 1999A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (a) | 3.95% | 01/05/24 | 7,000,000 | 7,000,000 | |
Housing RB (Clinton Green North) Series 2006A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 26,400,000 | 26,400,000 | |
Housing RB (Clinton Green) Series 2006A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 28,900,000 | 28,900,000 | |
Housing RB (E 39th St) Series 1999A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 33,700,000 | 33,700,000 | |
Housing RB (East 84th St) Series 1995A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.91% | 01/05/24 | 11,800,000 | 11,800,000 | |
Housing RB (Theatre Row Tower) Series 2000A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 38,300,000 | 38,300,000 | |
Housing RB (Tower 31) Series 2005A (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 20,500,000 | 20,500,000 | |
Housing RB (Tribeca Park) Series 1997A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 19,700,000 | 19,700,000 | |
Housing RB (Worth Street) Series 2002A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.90% | 01/05/24 | 500,000 | 500,000 | |
New York State Mortgage Agency | ||||||
Homeowner Mortgage RB Series 210 (LIQ: BARCLAYS BANK PLC) | (a) | 3.90% | 01/05/24 | 25,490,000 | 25,490,000 | |
New York State Power Auth | ||||||
CP Series 2 | 4.00% | 02/06/24 | 5,873,000 | 5,873,000 | ||
CP Series 2 | 3.67% | 03/07/24 | 9,529,412 | 9,529,412 | ||
RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,240,000 | 1,240,000 | |
RB Series 2020A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 3,670,000 | 3,670,000 |
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) | (b)(c)(d) | 3.90% | 01/05/24 | 18,985,000 | 18,985,000 | |
State Personal Income Tax RB Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,430,000 | 2,430,000 | |
State Personal Income Tax RB Series 2021A1, 2022A, 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 25,415,000 | 25,415,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,020,000 | 6,020,000 | |
State Personal Income Tax RB Series 2022C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,835,000 | 2,835,000 | |
State Personal Income Tax RB Series 2022C (LIQ: CITIBANK NA) | (b)(c)(d) | 3.88% | 01/05/24 | 3,965,000 | 3,965,000 | |
State Personal Income Tax RB Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 15,000,000 | 15,000,000 | |
State Personal Income Tax RB Series 2022C (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
State Personal Income Tax RB Series 2022C (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.92% | 01/05/24 | 2,150,000 | 2,150,000 | |
New York State Urban Development Corp | ||||||
State Personal Income Tax RB Series 2004A3C (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.80% | 01/05/24 | 2,175,000 | 2,175,000 | |
State Personal Income Tax RB Series 2020C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 2,240,000 | 2,240,000 | |
State Personal Income Tax RB Series 2020C (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.90% | 01/05/24 | 6,760,000 | 6,760,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
Niskayuna CSD | ||||||
GO BAN Series 2023 | 4.50% | 06/28/24 | 38,875,000 | 39,039,108 | ||
North Hempstead | ||||||
GO BAN 2023B | 4.50% | 09/20/24 | 33,486,469 | 33,642,929 | ||
North Syracuse CSD | ||||||
GO BAN 2023 | 4.75% | 08/03/24 | 17,685,000 | 17,805,796 | ||
Northport-East Northport UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/28/24 | 31,000,000 | 31,201,122 | ||
Nuveen New York AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.92% | 01/05/24 | 3,000,000 | 3,000,000 | |
Variable Rate Demand Preferred Shares Series 3 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.92% | 01/05/24 | 10,300,000 | 10,300,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b) | 3.91% | 01/05/24 | 14,200,000 | 14,200,000 | |
Oceanside UFSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 14,500,000 | 14,573,307 | ||
Penn Yan CSD | ||||||
GO BAN Series 2023 | 4.75% | 06/27/24 | 9,812,483 | 9,865,157 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Port Auth of New York & New Jersey | ||||||
Consolidated Bonds 206th Series (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 4,790,000 | 4,790,000 | |
Consolidated Bonds 207th Series | 5.00% | 09/15/24 | 10,000,000 | 10,062,291 | ||
Consolidated Bonds 218th Series (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.94% | 01/05/24 | 2,305,000 | 2,305,000 | |
Consolidated Bonds 221st Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 595,000 | 595,000 | |
Consolidated Bonds 221st Series (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 760,000 | 760,000 | |
Consolidated Bonds 231st Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 15,105,000 | 15,105,000 | |
Consolidated Bonds 232nd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 800,000 | 800,000 | |
Consolidated Bonds 236th & 223rd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 685,000 | 685,000 | |
Consolidated Bonds 242nd Series (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.93% | 01/05/24 | 800,000 | 800,000 | |
Red Hook CSD | ||||||
BAN 2023 | 4.50% | 06/28/24 | 15,630,437 | 15,694,215 | ||
Riverhead CSD | ||||||
TAN Series 2023-2024B | 5.00% | 06/25/24 | 13,000,000 | 13,082,352 | ||
Rockland Cnty IDA | ||||||
RB (Northern Riverview) Series 1999 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 5,265,000 | 5,265,000 | |
Rondout Valley CSD | ||||||
GO BAN Series 2023A | 4.50% | 06/27/24 | 38,676,634 | 38,870,036 | ||
Rye SD | ||||||
GO BAN 2023 | 5.00% | 06/28/24 | 6,584,470 | 6,630,870 | ||
Sachem Central SD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 49,000,000 | 49,261,098 | ||
South Country CSD | ||||||
TAN 2023-2024 | 5.00% | 05/30/24 | 15,000,000 | 15,080,769 | ||
South Huntington UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 25,500,000 | 25,659,513 | ||
Sweet Home CSD | ||||||
BAN Series 2023 | 4.75% | 06/27/24 | 23,972,382 | 24,098,745 | ||
Syosset CSD | ||||||
TAN 2023 | 5.00% | 06/25/24 | 12,000,000 | 12,082,460 | ||
Triborough Bridge & Tunnel Auth | ||||||
General RB Series 2001C (LOC: BARCLAYS BANK PLC) | (a) | 4.10% | 01/02/24 | 25,450,000 | 25,450,000 | |
General RB Series 2021A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,200,000 | 3,200,000 | |
General Refunding RB Series 2005B4A (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 34,000,000 | 34,000,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 27,560,000 | 27,560,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,945,000 | 2,945,000 | |
Payroll Mobility Tax Sr Lien Refunding Bonds Series 2022E-2A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 8,000,000 | 8,000,000 | |
Sales Tax RB Series 2022A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 16,300,000 | 16,300,000 | |
Sales Tax RB Series 2023A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,555,000 | 7,555,000 | |
Sales Tax RB Series 2023A & 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 4,000,000 | 4,000,000 | |
Ulster Cnty | ||||||
BAN 2023 | 5.25% | 11/15/24 | 31,000,000 | 31,318,365 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Warren & Washington Cnty IDA | ||||||
Civic Facility RB (Glen at Hiland Meadows) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.68% | 01/05/24 | 2,275,000 | 2,275,000 | |
West Babylon UFSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 24,000,000 | 24,132,784 | ||
West Genesee CSD | ||||||
BAN Series 2023A | 4.50% | 06/27/24 | 14,852,000 | 14,912,261 | ||
West Islip UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 13,000,000 | 13,072,502 | ||
3,747,429,162 | ||||||
NORTH CAROLINA 0.5% | ||||||
Charlotte-Mecklenburg Hospital Auth | ||||||
Health Care Refunding RB (Atrium Health) Series 2021E (LOC: ROYAL BANK OF CANADA) | (a) | 4.00% | 01/02/24 | 44,475,000 | 44,475,000 | |
Cumberland Cnty Industrial Facilities & Pollution Control Financing Auth | ||||||
RB (Cargill) Series 2022 | (a) | 3.91% | 01/05/24 | 15,000,000 | 15,000,000 | |
Union Cnty Industrial Facilities & Pollution Control Financing Auth | ||||||
IDRB (Darnel Inc) Series 2007 (LOC: TRUIST BANK) | (a) | 3.95% | 01/05/24 | 10,000,000 | 10,000,000 | |
Yancey Cnty Industrial Facilities & Pollution Control Financing Auth | ||||||
IDRB (Altec Industries) Series 2007 (LOC: TRUIST BANK) | (a) | 4.06% | 01/05/24 | 7,000,000 | 7,000,000 | |
76,475,000 | ||||||
NORTH DAKOTA 0.0% | ||||||
Richland Cnty | ||||||
RB (Minn-Dak Farmers Coop) Series 2010B (LOC: COBANK ACB) | (a) | 3.93% | 01/05/24 | 3,840,000 | 3,840,000 | |
RB (Minn-Dak Farmers Coop) Series 2010C (LOC: COBANK ACB) | (a) | 3.93% | 01/05/24 | 3,415,000 | 3,415,000 | |
7,255,000 | ||||||
OHIO 2.5% | ||||||
Akron, Bath & Copley Jt Township Hospital District | ||||||
Hospital RB (Summa Health) Series 2017B (LOC: BMO BANK NA) | (a) | 3.86% | 01/05/24 | 25,120,000 | 25,120,000 | |
RB (Concordia Lutheran Obligated Group) Series 2013A (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 2,355,000 | 2,355,000 | |
RB (Concordia Lutheran Obligated Group) Series 2018B (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 6,895,000 | 6,895,000 | |
Allen Cnty | ||||||
Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 6,890,000 | 6,890,000 |
Berea SD | ||||||
ULT GO Bonds Series 2017 (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.75% | 01/04/24 | 01/05/24 | 8,050,000 | 8,050,000 |
Columbus Regional Airport Auth | ||||||
Airport Development RB (FlightSafety) Series 2015B | (a) | 3.95% | 01/05/24 | 15,040,000 | 15,040,000 | |
Franklin Cnty | ||||||
Hospital Facilities RB (OhioHealth) Series 2015 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 3,870,000 | 3,870,000 | |
Hospital Facilities RB (OhioHealth) Series 2018A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,810,000 | 2,810,000 | |
RB (St George Commons Apts) Series 2007 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.98% | 01/05/24 | 3,100,000 | 3,100,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Hamilton Cnty | ||||||
Hospital Facilities RB (TriHealth) Series 2017A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,775,000 | 4,775,000 | |
Marion Cnty | ||||||
M/F Housing RB (Avalon Lakes) Series 2006 (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.95% | 01/05/24 | 7,100,000 | 7,100,000 | |
Montgomery Cnty | ||||||
Hospital Facilities Refunding RB (Kettering Health) Series 1996 (LOC: BANK OF AMERICA NA) | (b)(c)(d) | 3.99% | 01/02/24 | 6,525,000 | 6,525,000 | |
Hospital Facilities Refunding RB (Kettering Health) Series 2011B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 10,575,000 | 10,575,000 |
Hospital Facilities Refunding RB (Kettering Health) Series 2012 (LOC: BANK OF AMERICA NA) | (b)(c)(d) | 3.99% | 01/02/24 | 46,630,000 | 46,630,000 | |
Ohio | ||||||
Hospital RB (Cleveland Clinic) Series 2023 (LOC: BANK OF AMERICA NA) | (b)(c)(d) | 3.99% | 01/02/24 | 63,450,000 | 63,450,000 | |
Hospital RB (University Hospitals Health System) Series 2012A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.91% | 01/05/24 | 3,000,000 | 3,000,000 | |
Hospital RB (University Hospitals Health System) Series 2018A (LOC: PNC BANK NA) | (a) | 4.10% | 01/02/24 | 11,930,000 | 11,930,000 | |
Hospital RB (University Hospitals Health System) Series 2018B (LOC: PNC BANK NA) | (a) | 3.83% | 01/05/24 | 420,000 | 420,000 | |
Hospital RB (University Hospitals Health System) Series 2023C (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.91% | 01/05/24 | 6,000,000 | 6,000,000 | |
Ohio HFA | ||||||
Residential Mortgage RB Series 2017C (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.75% | 01/05/24 | 5,125,000 | 5,125,000 | |
Ohio Higher Educational Facility Commission | ||||||
Hospital RB (Cleveland Clinic Health System) Series 2008B5 | 3.70% | 01/18/24 | 15,105,000 | 15,105,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2008B5 | 3.83% | 02/01/24 | 18,905,000 | 18,905,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2008B6 | 3.70% | 01/18/24 | 23,000,000 | 23,000,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2008B6 | 3.83% | 02/01/24 | 23,190,000 | 23,190,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2008B6 | 3.63% | 03/01/24 | 12,495,000 | 12,495,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2013B2 (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 1,355,000 | 1,355,000 | |
Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A | 5.00% | 01/01/24 | 1,400,000 | 1,400,000 | ||
Ohio Hospital Facilities | ||||||
Hospital RB (Cleveland Clinic Health System) Series 2019D1 | (a) | 3.75% | 01/05/24 | 1,000,000 | 1,000,000 | |
Ohio State Air Quality Development Auth | ||||||
Exempt Facilities RB (Cargill) Series 2021 | (a) | 3.91% | 01/05/24 | 75,000,000 | 75,000,000 | |
Ohio Water Development Auth | ||||||
Fresh Water Revenue CP (LIQ: TD BANK NA) | 3.78% | 03/01/24 | 8,000,000 | 8,000,000 | ||
419,110,000 | ||||||
OREGON 1.1% | ||||||
Multnomah Cnty SD #1 | ||||||
GO Bonds Series 2023 (GTY: OREGON (STATE OF)) | 5.00% | 06/15/24 | 17,735,000 | 17,842,407 | ||
Oregon | ||||||
GO Bonds Series 2019G (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 15,000,000 | 15,000,000 | |
Highway Tax 2nd Sub Lien CP Series A2 (LOC: BANK OF MONTREAL) | 3.70% | 01/03/24 | 10,000,000 | 10,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Oregon Dept of Transportation | ||||||
Highway Tax 2nd Sub Lien CP Notes Series A1 (LOC: WELLS FARGO BANK NA) | 3.59% | 03/14/24 | 16,468,000 | 16,468,000 | ||
Oregon Facilities Auth | ||||||
RB (Quatama Housing LP) Series 2005A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.94% | 01/05/24 | 18,400,000 | 18,400,000 | |
Oregon Health, Housing, Educational & Cultural Facilities Auth | ||||||
RB (Assumption Village) Series 2001A (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 4.00% | 01/05/24 | 1,875,000 | 1,875,000 | |
Port of Portland Airport | ||||||
Airport RB Series 28 (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.93% | 01/05/24 | 7,015,000 | 7,015,000 | |
Airport RB Series 28 (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.20%) | (b)(c)(d) | 4.07% | 01/04/24 | 01/11/24 | 47,500,000 | 47,500,000 |
Airport RB Series 29 (LIQ: CITIBANK NA) | (b)(c)(d) | 3.91% | 01/05/24 | 11,950,000 | 11,950,000 | |
Airport RB Series 29 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.01% | 01/05/24 | 2,820,000 | 2,820,000 | |
Airport RB Series 29 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.12% | 01/05/24 | 9,375,000 | 9,375,000 | |
Airport RB Series 29 (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 4.02% | 01/05/24 | 4,195,000 | 4,195,000 | |
Portland | ||||||
M/F Refunding RB (Village of Lovejoy Fountain) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 13,050,000 | 13,050,000 | |
Portland Housing Auth | ||||||
M/F Housing RB (Civic Apts) 2005 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.90% | 01/05/24 | 7,800,000 | 7,800,000 | |
183,290,407 | ||||||
PENNSYLVANIA 3.1% | ||||||
Allegheny Cnty Hospital Development Auth | ||||||
RB (Concordia Lutheran Obligated Group) Series 2016A (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 25,905,000 | 25,905,000 | |
Beaver Cnty IDA | ||||||
RB Series (Concordia Lutheran) 2018A (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 4,515,000 | 4,515,000 | |
Butler Cnty Hospital Auth | ||||||
RB (Concordia Lutheran) Series 2012A (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 11,780,000 | 11,780,000 | |
Butler Cnty Industrial Development Auth | ||||||
RB (Concordia Lutheran Ministries) Series 2004A (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 5,420,000 | 5,420,000 | |
Refunding RB (Concordia Lutheran Health & Human Care) Series 2008A (LOC: TRUIST BANK) | (a) | 3.91% | 01/05/24 | 9,280,000 | 9,280,000 | |
Chester Cnty Health & Ed | ||||||
RB (Tel Hai Retirement Community) Series 2020 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 3.97% | 01/05/24 | 12,760,000 | 12,760,000 | |
City of York Redevelopment Auth | ||||||
RB Series 2002 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 1,015,000 | 1,015,000 | |
Cumberland Cnty Municipal Auth | ||||||
RB (SpiriTrust Lutheran) Series 2019 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 4.03% | 01/05/24 | 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) | 3.97% | 01/05/24 | 6,400,000 | 6,400,000 | |
Lehigh Cnty General Purpose Auth | ||||||
Hospital RB (Lehigh Valley Health) Series 2012B (LOC: BANK OF AMERICA NA) | (b)(c)(d) | 3.99% | 01/02/24 | 1,300,000 | 1,300,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Lycoming Cnty Auth | ||||||
RB (Lycoming College) Series 2013S1 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 3.95% | 01/05/24 | 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) | 3.91% | 01/05/24 | 4,080,000 | 4,080,000 | |
M/F Housing RB (Kingswood Apts) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.93% | 01/05/24 | 7,610,000 | 7,610,000 | |
Pennsylvania Economic Development Financing Auth | ||||||
Economic Development RB 2005 Series B2 (LOC: PNC BANK NA) | (a) | 3.90% | 01/05/24 | 1,200,000 | 1,200,000 | |
RB (Salem Rd) Series 2007D1 (LOC: PNC BANK NA) | (a) | 3.90% | 01/05/24 | 750,000 | 750,000 | |
RB (UPMC) Series 2023D1 (LOC: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 84,905,000 | 84,905,000 | |
RB (UPMC) Series 2023D2 (LOC: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 142,405,000 | 142,405,000 | |
Pennsylvania HFA | ||||||
S/F Mortgage RB Series 2017-125A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.91% | 01/05/24 | 6,690,000 | 6,690,000 | |
S/F Mortgage RB Series 2022-139A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 7,275,000 | 7,275,000 | |
S/F Mortgage RB Series 2022-140A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 1,060,000 | 1,060,000 | |
Pennsylvania Higher Educational Facilities Auth | ||||||
RB (Assoc of Indep Colleges & Univs of PA) Series 2001I1 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a) | 3.95% | 01/05/24 | 2,600,000 | 2,600,000 | |
Pennsylvania State Turnpike Commission | ||||||
Turnpike Refunding RB Series 2023B (LOC: TD BANK NA) | (a) | 3.75% | 01/05/24 | 57,125,000 | 57,125,000 | |
Pennsylvania State Univ | ||||||
RB Series 2018 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
Philadelphia | ||||||
Airport Revenue CP Series A1 (LOC: TD BANK NA) | 3.90% | 01/24/24 | 15,000,000 | 15,000,000 | ||
Airport Revenue CP Series B1 (LOC: TD BANK NA) | 3.95% | 01/24/24 | 25,221,000 | 25,221,000 | ||
CP Series B (LOC: ROYAL BANK OF CANADA) | 3.93% | 02/14/24 | 7,210,000 | 7,210,000 | ||
516,421,000 | ||||||
RHODE ISLAND 0.0% | ||||||
Rhode Island Health & Educational Building Corp | ||||||
Educational Facilities RB (Brown Univ) 2017A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,065,000 | 5,065,000 | |
SOUTH CAROLINA 0.1% | ||||||
Patriots Energy Group Financing Agency | ||||||
Gas RB Series 2023B1 | (b)(c)(d) | 3.90% | 01/05/24 | 10,575,000 | 10,575,000 | |
Gas Supply RB Series 2023B1 | (b)(c)(d) | 3.90% | 01/05/24 | 2,500,000 | 2,500,000 | |
South Carolina Housing Finance & Development Auth | ||||||
M/F Rental Housing RB (Franklin Square Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.92% | 01/05/24 | 340,000 | 340,000 | |
South Carolina Jobs Economic Development Auth | ||||||
1st Lien Economic Development RB (Port Royal Village Apts) Series 2021A (LOC: FEDERAL HOME LOAN BANKS) | (a) | 3.90% | 01/05/24 | 4,730,000 | 4,730,000 | |
18,145,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
SOUTH DAKOTA 0.3% | ||||||
South Dakota Economic Development Finance Auth | ||||||
Solid Waste Disposal RB (Riverview LLP) Series 2021 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 14,500,000 | 14,500,000 | |
Solid Waste Disposal RB (Riverview LLP) Series 2023 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 12,500,000 | 12,500,000 | |
Solid Waste Disposal RB (Riverview) Series 2021 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 22,500,000 | 22,500,000 | |
South Dakota Housing Development Auth | ||||||
Homeownership Mortgage Bonds Series 2023A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.91% | 01/05/24 | 4,100,000 | 4,100,000 | |
53,600,000 | ||||||
TENNESSEE 1.8% | ||||||
Blount Cnty Public Building Auth | ||||||
Public Improvement Bonds Series E6A (LOC: TRUIST BANK) | (a) | 3.90% | 01/05/24 | 3,625,000 | 3,625,000 | |
Greeneville Health & Educational Facilities Board | ||||||
Hospital RB (Ballad Health) Series 2018A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.91% | 01/05/24 | 1,700,000 | 1,700,000 | |
Johnson City Health & Educational Facilities Board | ||||||
Hospital RB (Ballad Health) Series 2022C (LOC: TRUIST BANK) | (a) | 3.85% | 01/05/24 | 50,530,000 | 50,530,000 | |
Hospital Refunding RB (Ballad Health) Series 2022B (LOC: TRUIST BANK) | (a) | 3.88% | 01/05/24 | 31,370,000 | 31,370,000 | |
Memphis | ||||||
GO CP Series A (LIQ: TD BANK NA) | 3.62% | 03/06/24 | 55,000,000 | 55,000,000 | ||
Memphis Health, Educational & Housing Facility Board | ||||||
M/F Housing RB (Ashland Lake II Apts) Series 2008A (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.90% | 01/05/24 | 11,500,000 | 11,500,000 | |
M/F Housing RB (Ashland Lakes Apts) Series 2006A (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.90% | 01/05/24 | 7,800,000 | 7,800,000 | |
Metro Government of Nashville & Davidson Cnty | ||||||
GO Bonds Series 2022B | 4.00% | 01/01/24 | 1,475,000 | 1,475,000 | ||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 3.95% | 01/23/24 | 12,180,000 | 12,180,000 | ||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 3.66% | 02/12/24 | 20,200,000 | 20,200,000 | ||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 3.90% | 02/14/24 | 19,000,000 | 19,000,000 | ||
Metro Government of Nashville & Davidson Cnty Health & Educational Facilities Board | ||||||
M/F Housing RB (The Retreat at Dry Creek Farms Apts) Series 2007 (LOC: CITIBANK NA) | (a) | 3.90% | 01/05/24 | 1,650,000 | 1,650,000 | |
M/F Housing RB (Weatherly Ridge Apts) Series 2006A (LOC: US BANK NATIONAL ASSOCIATION) | (a) | 3.90% | 01/05/24 | 10,000,000 | 10,000,000 | |
Metropolitan Nashville Airport Auth | ||||||
Sub Airport RB Series 2019B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.93% | 01/05/24 | 1,220,000 | 1,220,000 | |
Sevier Cnty Public Building Auth | ||||||
Public Improvement Bonds (Bedford Cnty) Series VIIQ1 (LOC: TRUIST BANK) | (a) | 4.00% | 01/02/24 | 40,450,000 | 40,450,000 | |
Public Improvement Bonds Series VIIB1 (LOC: BANK OF AMERICA NA) | (a) | 3.87% | 01/05/24 | 28,880,000 | 28,880,000 | |
296,580,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
TEXAS 18.9% | ||||||
Alamo CCD | ||||||
LT GO Refunding Bonds Series 2012 (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 7,500,000 | 7,500,000 | |
Aledo ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 6,235,000 | 6,235,000 | |
Alief ISD | ||||||
ULT GO Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 150,000 | 150,235 | ||
Allen ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 2,500,000 | 2,504,230 | ||
Alvin ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 1,000,000 | 1,001,323 | ||
Andrews ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 12,405,000 | 12,427,519 | ||
Arlington ISD | ||||||
ULT GO Bonds Series 2015 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 125,000 | 125,195 | ||
Azle ISD | ||||||
ULT GO Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 1,035,000 | 1,036,370 | ||
Belton ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 300,000 | 300,437 | ||
Bexar Cnty Hospital District | ||||||
Certificates of Obligation Series 2022 (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%) | (b)(c)(d) | 4.04% | 01/04/24 | 01/18/24 | 8,000,000 | 8,000,000 |
Brownsville | ||||||
Utilities System CP Series A (LOC: PNC BANK NA) | 4.05% | 02/01/24 | 4,000,000 | 4,000,000 | ||
Bryan ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 11,060,000 | 11,079,367 | ||
Calhoun Cnty Navigation District | ||||||
Environmental Facilities RB (Formosa Plastics) Series 2006 (LOC: BANK OF AMERICA NA) | (a) | 3.85% | 01/05/24 | 28,500,000 | 28,500,000 | |
Solid Waste Disposal RB (Formosa Plastics) Series 2000 (LOC: JPMORGAN CHASE BANK NA) | (a) | 3.85% | 01/05/24 | 25,000,000 | 25,000,000 | |
Solid Waste Disposal RB (Formosa Plastics) Series 2001 (LOC: JPMORGAN CHASE BANK NA) | (a) | 3.85% | 01/05/24 | 25,000,000 | 25,000,000 | |
Calhoun Cnty Navigation IDA | ||||||
Port RB (Formosa Plastics) Series 2011C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.81% | 01/05/24 | 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) | 3.89% | 01/05/24 | 45,400,000 | 45,400,000 | |
Environmental Facilities RB (Formosa Plastics) Series 2011B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.81% | 01/05/24 | 35,000,000 | 35,000,000 | |
Environmental Facilities RB (Formosa Plastics) Series 2012 (LOC: JPMORGAN CHASE BANK NA) | (a) | 3.85% | 01/05/24 | 50,000,000 | 50,000,000 | |
Port RB (Formosa Plastics) Series 2007A (LOC: PNC BANK NA) | (a) | 3.93% | 01/05/24 | 28,275,000 | 28,275,000 | |
Port RB (Formosa Plastics) Series 2011A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.81% | 01/05/24 | 32,300,000 | 32,300,000 | |
Capital Area Housing Finance Corp | ||||||
M/F Housing RB (Encino Pointe Apts) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 13,380,000 | 13,380,000 | |
Chapel Hill ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 2,340,000 | 2,340,000 | |
Clear Creek ISD | ||||||
ULT GO Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 255,000 | 255,399 | ||
Cypress-Fairbanks ISD | ||||||
ULT GO Bonds Series 2019A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 1,215,000 | 1,217,335 | ||
Dallam Cnty IDC | ||||||
Economic Development RB (Hillmar Cheese) Series 2010 (LOC: BANK OF AMERICA NA) | (a) | 4.08% | 01/05/24 | 20,000,000 | 20,000,000 | |
Economic Development Refunding RB (Hilmar Cheese) Series 2009 (LOC: WELLS FARGO BANK NA) | (a) | 4.08% | 01/05/24 | 24,500,000 | 24,500,000 | |
IDRB (Morning Star Dairy) Series 2015 (LOC: FARM CREDIT BANK OF TEXAS) | (a) | 4.15% | 01/05/24 | 5,350,000 | 5,350,000 | |
IDRB (Morning Star Dairy) Series 2018 (LOC: FARM CREDIT BANK OF TEXAS) | (a) | 4.15% | 01/05/24 | 10,000,000 | 10,000,000 | |
Dallas Area Rapid Transit | ||||||
Sr Lien Sales Tax Refunding RB Series 2021B (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,370,000 | 2,370,000 | |
Dallas ISD | ||||||
CP Series IA (LIQ: BANK OF AMERICA NA) | 3.70% | 02/15/24 | 7,667,000 | 7,667,000 | ||
Dallas-Fort Worth Int’l Airport Facility Improvement Corp | ||||||
Airport Facility RB (FlightSafety) Series 1999 | (a) | 3.93% | 01/05/24 | 31,180,000 | 31,180,000 | |
Deer Park ISD | ||||||
LT Refunding Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 160,000 | 160,202 | ||
Denton ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 3,600,000 | 3,600,000 | |
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: UBS AG) | (b)(c)(d) | 3.89% | 01/05/24 | 5,225,000 | 5,225,000 | |
Desoto ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 3.50% | 08/15/24 | 265,000 | 259,308 | ||
Edinburg Consolidated ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 625,000 | 625,706 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
El Paso Tx Water and Sewer System | ||||||
Water & Sewer System Refunding RB Series 2022 (LIQ: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (b)(c)(d) | 4.07% | 01/04/24 | 03/01/24 | 9,700,000 | 9,700,000 |
Fort Worth ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 250,000 | 250,391 | ||
Franklin ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 7.00% | 02/15/24 | 3,505,000 | 3,519,432 | ||
Frenship ISD | ||||||
ULT GO Bonds Series 2021A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 275,000 | 275,310 | ||
Frisco ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 500,000 | 500,876 | ||
Garland ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 18,500,000 | 18,538,719 | ||
ULT GO Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 650,000 | 651,100 | ||
Gulf Coast IDA | ||||||
RB (ExxonMobil) Series 2012 | (a) | 4.00% | 01/02/24 | 137,780,000 | 137,780,000 | |
Gulf Coast Waste Disposal Auth | ||||||
RB (ExxonMobil) Series 2000 | (a) | 4.00% | 01/02/24 | 23,475,000 | 23,475,000 | |
RB (ExxonMobil) Series 2001A | (a) | 4.00% | 01/02/24 | 12,800,000 | 12,800,000 | |
RB (ExxonMobil) Series 2001B | (a) | 4.00% | 01/02/24 | 9,100,000 | 9,100,000 | |
RB (ExxonMobil) Series 2002 | (a) | 4.00% | 01/02/24 | 4,405,000 | 4,405,000 | |
Hale Cnty IDC | ||||||
Economic Development RB (Silverado Developers) Series 2008 (LOC: COOPERATIEVE RABOBANK UA) | (a) | 4.15% | 01/05/24 | 5,400,000 | 5,400,000 | |
Harris Cnty | ||||||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.95% | 02/14/24 | 4,150,000 | 4,150,000 | ||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.80% | 03/04/24 | 8,700,000 | 8,700,000 | ||
Toll Road System 1st Lien CP Series K2 (LOC: BARCLAYS BANK PLC) | 3.90% | 01/10/24 | 2,580,000 | 2,580,000 | ||
Harris Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital RB (Texas Childrens Hospital) Series 2021C (LIQ: BANK OF AMERICA NA) | (a) | 4.05% | 01/02/24 | 450,000 | 450,000 | |
Hospital RB (Texas Children’s Hospital) Series 2021D (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 48,805,000 | 48,805,000 | |
RB (Houston Methodist) Series 2020B | (a) | 4.10% | 01/02/24 | 1,900,000 | 1,900,000 | |
Refunding RB (Methodist Hospital) Series 2009C1 | 3.99% | 01/11/24 | 222,000,000 | 222,000,000 | ||
Refunding RB (Methodist Hospital) Series 2009C2 | 3.99% | 01/11/24 | 77,700,000 | 77,700,000 | ||
Harris Cnty Flood Control District | ||||||
LT CP Notes Series H2 (LOC: PNC BANK NA) | 3.75% | 02/07/24 | 6,000,288 | 6,000,288 | ||
Harris Cnty Health Facilities Development Corp | ||||||
RB (Methodist Hospital) Series 2008A2 | (a) | 4.10% | 01/02/24 | 2,945,000 | 2,945,000 | |
Harris Cnty Housing Finance Corp | ||||||
M/F Housing RB (Lafayette Village Apts) Series 2006 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 11,015,000 | 11,015,000 | |
M/F Housing RB (Village At Cornerstone Apts) Series 2004 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 5,615,000 | 5,615,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Harris Cnty IDC - ExxonMobil | ||||||
Solid Waste Disposal RB (Exxon) Series 1997 | (a) | 4.02% | 01/02/24 | 25,000,000 | 25,000,000 | |
Harris Cnty Toll Road Auth | ||||||
1st Lien Refunding RB Series 2021 (LIQ: UBS AG) | (b)(c)(d) | 3.90% | 01/02/24 | 8,760,000 | 8,760,000 | |
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 3.75% | 02/07/24 | 17,030,000 | 17,030,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 3.90% | 02/07/24 | 1,940,000 | 1,940,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 4.05% | 02/07/24 | 530,000 | 530,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 3.70% | 02/14/24 | 31,910,000 | 31,910,000 | ||
Houston Combined Utility System | ||||||
1st Lien Refunding RB Series 2004B2 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.86% | 01/05/24 | 12,150,000 | 12,150,000 | |
1st Lien Refunding RB Series 2004B4 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.87% | 01/05/24 | 2,000,000 | 2,000,000 | |
Houston ISD | ||||||
LT GO Refunding Bonds Series 2016A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 700,000 | 700,778 | ||
LT GO Refunding Bonds Series 2023A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 200,000 | 200,236 | ||
Humble ISD | ||||||
ULT GO Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.50% | 02/15/24 | 125,000 | 125,262 | ||
Iraan Sheffield ISD | ||||||
ULT GO Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 140,000 | 140,219 | ||
Katy ISD | ||||||
ULT GO Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 135,000 | 135,203 | ||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 245,000 | 245,380 | ||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 525,000 | 525,823 | ||
ULT GO Refunding Bonds Series 2019B (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 350,000 | 350,421 | ||
Klein ISD | ||||||
ULT GO Refunding Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 175,000 | 175,171 | ||
La Vernia ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 3,760,000 | 3,767,365 | ||
Lower Neches Valley Auth | ||||||
Exempt Facilities Refunding RB (ExxonMobil) Series 2001B | (a) | 4.00% | 01/02/24 | 81,600,000 | 81,600,000 | |
RB (ExxonMobil) Series 2012 | (a) | 4.00% | 01/02/24 | 1,550,000 | 1,550,000 | |
Lower Neches Valley Auth Industrial Development Corp | ||||||
Exempt Facilities Refunding RB (ExxonMobil) Series 2001B2 | (a) | 4.00% | 01/02/24 | 31,100,000 | 31,100,000 | |
Lubbock Cooper ISD | ||||||
ULT GO Refunding Bonds Series 2014 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,157 | ||
McAllen ISD | ||||||
ULT GO Refunding Bonds Series 2020A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 150,000 | 150,218 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Medina Valley ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,700,000 | 2,700,000 | |
Midlothian ISD | ||||||
ULT GO Refunding Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 1,975,000 | 1,979,062 | ||
North Texas Municipal Water District | ||||||
Water System RB Extendable CP | 4.25% | 02/07/24 | 08/30/24 | 26,000,000 | 26,000,000 | |
Northside ISD | ||||||
ULT GO Refunding Bonds Series 2019B (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 275,000 | 275,310 | ||
Northwest ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
Pasadena ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 155,000 | 155,166 | ||
ULT GO Refunding Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 230,000 | 230,389 | ||
Pearland ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 500,000 | 500,753 | ||
Pecos Barstow Toyah ISD | ||||||
ULT GO Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 520,000 | 520,658 | ||
Port of Houston Auth | ||||||
1st Lien RB Series 2023 (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 6,300,000 | 6,300,000 | |
Port of Port Arthur Navigation District | ||||||
Exempt Facilities RB (Total USA) Series 2011 | (a) | 3.95% | 01/05/24 | 48,685,000 | 48,685,000 | |
Exempt Facilities RB (Total USA) Series 2012 | (a) | 4.20% | 01/05/24 | 85,000,000 | 85,000,000 | |
Exempt Facilities RB (Total USA) Series 2012A | (a) | 3.95% | 01/05/24 | 74,200,000 | 74,200,000 | |
Exempt Facilities RB (Total USA) Series 2012B | (a) | 3.95% | 01/05/24 | 30,000,000 | 30,000,000 | |
IDRB (Route 86 Biogas) Series 2023 (LOC: COBANK ACB) | (a) | 4.05% | 01/05/24 | 8,000,000 | 8,000,000 | |
RB (ATOFINA Petrochemicals) Series 2003B | (a) | 3.77% | 01/05/24 | 10,000,000 | 10,000,000 | |
RB (Total Energies SE) Series 1998 | (a) | 4.30% | 01/05/24 | 18,400,000 | 18,400,000 | |
RB (TOTAL Petrochemicals USA) Series 2008 | (a) | 3.96% | 01/05/24 | 50,000,000 | 50,000,000 | |
Prosper ISD | ||||||
ULT GO Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 150,000 | 150,169 | ||
Quinlan ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 4,205,000 | 4,205,000 | |
Richardson ISD | ||||||
ULT GO Bonds Series 2022A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 315,000 | 315,512 | ||
Royal ISD | ||||||
ULT GO Refunding Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 150,000 | 150,169 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Royse City ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,465,000 | 3,465,000 | |
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 3,200,000 | 3,200,000 | |
San Antonio | ||||||
Electric & Gas Systems Refunding RB Series 2012 | 5.25% | 02/01/24 | 295,000 | 295,384 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 3.80% | 02/01/24 | 25,000,000 | 25,000,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 3.85% | 02/07/24 | 54,245,000 | 54,245,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 3.80% | 03/04/24 | 42,075,000 | 42,075,000 | ||
Water System Jr Lien Refunding RB Series 2021A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
San Antonio Electric & Gas | ||||||
Electric & Gas Refunding RB Series 2023A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,905,000 | 5,905,000 | |
San Antonio Housing Finance Corp | ||||||
M/F Housing Mortgage RB (Artisan) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 13,200,000 | 13,200,000 | |
Sharyland ISD | ||||||
ULT GO Refunding Bond Series 2015 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 150,000 | 150,234 | ||
Sheldon ISD | ||||||
ULT GO Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 450,000 | 450,655 | ||
Sherman ISD | ||||||
ULT GO Refunding Bonds Series 1998 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 3.47% | 02/15/24 | 2,225,000 | 2,215,723 | ||
ULT GO Refunding Bonds Series 2023A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 940,000 | 941,978 | ||
Spring Branch ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,875,000 | 1,875,000 | |
ULT GO Refunding Bonds Series 2015B (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 500,000 | 500,552 | ||
Tahoka ISD | ||||||
ULT GO Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 195,000 | 195,306 | ||
Tarrant Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital RB (Baylor Scott & White Health) Series 2022D (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.92% | 01/05/24 | 2,235,000 | 2,235,000 | |
Hospital RB (Methodist Hospitals of Dallas) Series 2008B (LOC: TD BANK NA) | (a) | 3.98% | 01/02/24 | 42,385,000 | 42,385,000 | |
Hospital Refunding RB (Baylor Scott & White Health) Series 2019B (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/04/24 | 01/05/24 | 1,300,000 | 1,300,000 |
RB (Christus Health) Series 2016D (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,000,000 | 1,000,000 | |
RB (Methodist Hospitals) Series 2008A (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 2,410,000 | 2,410,000 | |
RB (Texas Health Resources) Series 2008A | (a) | 3.85% | 01/05/24 | 20,335,000 | 20,335,000 | |
RB (Texas Health Resources) Series 2008B | (a) | 4.20% | 01/05/24 | 38,420,000 | 38,420,000 | |
RB (Texas Health Resources) Series 2008C | (a) | 3.85% | 01/05/24 | 610,000 | 610,000 | |
RB (Texas Health) Series 2017B | (a) | 3.85% | 01/05/24 | 7,765,000 | 7,765,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Refunding RB (CHRISTUS Health) Series 2008C1 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 4.20% | 01/05/24 | 3,190,000 | 3,190,000 | |
Refunding RB (Christus Health) Series 2008C2 (LOC: BANK OF NEW YORK MELLON/THE) | (a) | 3.99% | 01/05/24 | 2,200,000 | 2,200,000 | |
Texas | ||||||
GO Bonds Series 2002 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 3,700,000 | 3,700,000 | |
GO Bonds Series 2005B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.04% | 01/05/24 | 15,365,000 | 15,365,000 | |
GO Bonds Series 2010C (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.85% | 01/05/24 | 15,675,000 | 15,675,000 | |
GO Bonds Series 2013A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.85% | 01/05/24 | 13,640,000 | 13,640,000 | |
GO Bonds Series 2014D (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 4.25% | 01/05/24 | 5,880,000 | 5,880,000 | |
GO Bonds Series 2015B (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 4.25% | 01/05/24 | 27,350,000 | 27,350,000 | |
GO Bonds Series 2017 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.80% | 01/05/24 | 11,845,000 | 11,845,000 | |
Veterans Bonds Series 2012B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.85% | 01/05/24 | 5,405,000 | 5,405,000 | |
Veterans Bonds Series 2014A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.85% | 01/05/24 | 3,810,000 | 3,810,000 | |
Veterans Bonds Series 2016 (LIQ: TD BANK NA) | (a) | 4.00% | 01/05/24 | 88,450,000 | 88,450,000 | |
Veterans Bonds Series 2019 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 4.30% | 01/05/24 | 79,890,000 | 79,888,921 | |
Veterans Bonds Series 2020 (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 4.25% | 01/05/24 | 44,505,000 | 44,505,000 | |
Veterans Bonds Series 2021 (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.80% | 01/05/24 | 11,445,000 | 11,445,000 | |
Veterans Bonds Series 2022 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.80% | 01/05/24 | 23,600,000 | 23,600,000 | |
Veterans’ Housing Assistance Program Fund II Series 2001A2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 14,130,000 | 14,130,000 | |
Veterans Housing Assistance Program Fund II Series 2001C2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.04% | 01/05/24 | 20,855,000 | 20,855,000 | |
Veterans’ Housing Assistance Program Fund II Series 2002A2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 21,755,000 | 21,755,000 | |
Veterans’ Housing Assistance Program Fund II Series 2003B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 13,705,000 | 13,705,000 | |
Veterans’ Housing Assistance Program Fund II Series 2004B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 15,695,000 | 15,695,000 | |
Veterans Housing Assistance Program Fund II Series 2005A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.04% | 01/05/24 | 4,195,000 | 4,195,000 | |
Veterans’ Housing Assistance Program Fund II Series 2006A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 18,790,000 | 18,790,000 | |
Veterans Housing Assistance Program Fund II Series 2008A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 4.04% | 01/05/24 | 21,570,000 | 21,570,000 | |
Texas A&M Univ | ||||||
CP Series B | 3.75% | 02/02/24 | 8,080,000 | 8,080,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Texas Dept of Housing & Community Affairs | ||||||
M/F Housing RB (Idlewilde Apartments) Series 2006 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 4,490,000 | 4,490,000 | |
M/F Housing RB (Tower Ridge Apts) Series 2005 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 4.01% | 01/05/24 | 15,000,000 | 15,000,000 | |
M/F Housing RB (Windshire Apts) Series 2007 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (a) | 3.79% | 01/05/24 | 11,600,000 | 11,600,000 | |
M/F Housing RB (Woodmont Apts) Series 2009 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.93% | 01/05/24 | 12,680,000 | 12,680,000 | |
S/F Mortgage RB Series 2007A (LIQ: TEXAS (STATE OF)) | (a) | 3.90% | 01/05/24 | 2,085,000 | 2,085,000 | |
S/F Mortgage RB Series 2022B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,555,000 | 8,555,000 | |
S/F Mortgage Refunding RB Series 2005A (LIQ: TEXAS (STATE OF)) | (a) | 3.90% | 01/05/24 | 6,610,000 | 6,610,000 | |
Texas Public Finance Auth | ||||||
CP Series 2016B | 3.85% | 02/07/24 | 19,725,000 | 19,725,000 | ||
CP Series 2016B | 3.74% | 02/08/24 | 18,000,000 | 18,000,000 | ||
CP Series 2019 | 3.96% | 01/18/24 | 22,000,000 | 22,000,000 | ||
CP Series 2019A | 3.85% | 02/15/24 | 8,000,000 | 8,000,000 | ||
Texas Transportation Commission | ||||||
GO Refunding Bonds Series 2014 (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 4,000,000 | 4,000,000 | |
State Highway Fund 1st Tier RB Series 2014B (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (a) | 3.89% | 01/05/24 | 119,000,000 | 119,000,000 | |
Texas Veterans Housing Assistance Program | ||||||
GO Bonds Fund II Series 2006D (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 4,295,000 | 4,295,000 | |
GO Bonds Fund II Series 207B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (a) | 3.90% | 01/05/24 | 20,620,000 | 20,620,000 | |
Texas Water Dev Brd | ||||||
State Water Implementation Fund RB Series 2019A (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 2,850,000 | 2,850,000 | |
State Water Implementation Fund RB Series 2022 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
Texas Water Development Board | ||||||
State Water Implementation Fund RB Series 2023A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (b)(c)(d) | 4.02% | 01/05/24 | 9,000,000 | 9,000,000 | |
State Water Implementation Fund RB Series 2023A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
Univ of Texas | ||||||
CP Notes Series A | 3.60% | 01/04/24 | 22,000,000 | 21,999,743 | ||
CP Notes Series A | 3.18% | 01/17/24 | 18,500,000 | 18,493,571 | ||
CP Notes Series A | 3.50% | 01/18/24 | 12,500,000 | 12,498,056 | ||
CP Notes Series A | 3.85% | 01/24/24 | 20,000,000 | 20,000,000 | ||
CP Notes Series A | 3.90% | 02/05/24 | 25,000,000 | 25,000,000 | ||
CP Notes Series A | 3.65% | 02/12/24 | 10,000,000 | 10,000,000 | ||
CP Notes Series A | 3.23% | 03/04/24 | 25,000,000 | 24,964,172 | ||
CP Notes Series A | 3.68% | 03/06/24 | 22,500,000 | 22,500,000 | ||
CP Notes Series A | 3.63% | 03/08/24 | 25,000,000 | 25,000,000 | ||
CP Notes Series A | 3.55% | 06/25/24 | 39,000,000 | 39,000,000 | ||
Financing System RB Series 2019B (LIQ: UBS AG) | (b)(c)(d) | 3.90% | 01/05/24 | 4,340,000 | 4,340,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Revenue Financing CP Series A | 3.70% | 01/03/24 | 20,000,000 | 20,000,000 | ||
Revenue Financing CP Series A | 3.67% | 02/13/24 | 25,000,000 | 25,000,000 | ||
Revenue Financing CP Series A | 3.90% | 02/13/24 | 12,500,000 | 12,500,000 | ||
Revenue Financing CP Series A | 3.62% | 02/21/24 | 10,000,000 | 10,000,000 | ||
Revenue Financing CP Series A | 3.63% | 03/08/24 | 22,410,000 | 22,410,000 | ||
Revenue Financing CP Series A | 3.67% | 04/02/24 | 20,000,000 | 20,000,000 | ||
Revenue Financing System Bonds Series 2008B | (a) | 3.90% | 01/05/24 | 21,495,000 | 21,495,000 | |
Revenue Financing System Bonds Series 2019B (LIQ: DEUTSCHE BANK AG) | (b)(c)(d) | 3.55% | 01/02/24 | 26,380,000 | 26,380,000 | |
Revenue Financing System Refunding Bonds Series 2007B | (a) | 3.75% | 01/05/24 | 400,000 | 400,000 | |
Waxahachie ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.91% | 01/05/24 | 1,615,000 | 1,615,000 | |
3,134,343,458 | ||||||
UTAH 0.6% | ||||||
Intermountain Power Agency | ||||||
Power Supply RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.90% | 01/05/24 | 8,420,000 | 8,420,000 | |
Logan City | ||||||
IDRB (Scientific Technology) Series 2001 (LOC: BANK OF MONTREAL) | (a) | 3.90% | 01/05/24 | 680,000 | 680,000 | |
Murray | ||||||
Hospital RB (IHC Health Services) Series 2003C | (a) | 4.00% | 01/02/24 | 11,615,000 | 11,615,000 | |
Salt Lake City | ||||||
Airport RB Series 2017A & 2021A (LOC: TORONTO-DOMINION BANK/THE) | (b)(c)(d) | 3.95% | 01/05/24 | 8,940,000 | 8,940,000 | |
Utah Cnty | ||||||
Hospital RB (IHC Health Services) Series 2016C (LIQ: BMO BANK NA) | (a) | 3.80% | 01/05/24 | 5,600,000 | 5,600,000 | |
Hospital RB (IHC Health Services) Series 2016E (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.90% | 01/05/24 | 29,615,000 | 29,615,000 | |
Hospital RB (IHC Health Services) Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,875,000 | 4,875,000 | |
Utah Water Finance Agency | ||||||
RB Series 2008B-1 (LIQ: JPMORGAN CHASE BANK NA) | (a) | 3.85% | 01/05/24 | 30,995,000 | 30,995,000 | |
100,740,000 | ||||||
VIRGINIA 0.4% | ||||||
Albemarle Cnty Economic Development Auth | ||||||
Hospital Facilities Refunding RB (Sentara Health) Series 2018A (LIQ: TD BANK NA) | (a) | 3.85% | 01/05/24 | 400,000 | 400,000 | |
Hospital Facilities Refunding RB (Sentara Martha Jefferson) Series 2018B (LIQ: TD BANK NA) | (a) | 4.00% | 01/02/24 | 16,000,000 | 16,000,000 | |
Fairfax Cnty IDA | ||||||
Health Care RB (Inova Health) Series 2016C | (a) | 3.95% | 01/05/24 | 11,250,000 | 11,250,000 | |
Health Care RB (Inova Health) Series 2018C | (a) | 3.95% | 01/05/24 | 1,925,000 | 1,925,000 | |
Hampton Roads Transportation Accountability Commission | ||||||
Sr Lien RB Series 2020A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,365,000 | 3,365,000 | |
Sr Lien RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 8,255,000 | 8,255,000 | |
Sr Lien RB Series 2022A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 2,250,000 | 2,250,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Lynchburg Economic Development Auth | ||||||
Hospital Refunding RB (Centra Health) Series 2017B (LOC: TRUIST BANK) | (a) | 4.10% | 01/02/24 | 6,350,000 | 6,350,000 | |
Norfolk Economic Development Auth | ||||||
Health Care Facilities Refunding RB (Sentara Healthcare) Series 2012B (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.91% | 01/05/24 | 7,000,000 | 7,000,000 | |
Williamsburg Economic Development Auth | ||||||
Housing RB (Provident Group Williamsburg Properties) Series 2023A (LOC: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,050,000 | 4,050,000 | |
60,845,000 | ||||||
WASHINGTON 1.0% | ||||||
King Cnty Housing Auth | ||||||
RB (Salmon Creek Apts) Series 2007 (LOC: BANK OF AMERICA NA) | (a) | 3.99% | 01/05/24 | 3,470,000 | 3,470,000 | |
King Cnty Sewer System | ||||||
LT GO CP Series A | 3.85% | 01/04/24 | 30,000,000 | 30,000,000 | ||
Sewer RB Series 2023 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.35% | 01/02/24 | 4,310,000 | 4,310,000 | |
Port Bellingham IDA | ||||||
IDRB (Hempler Foods) Series 2006 (LOC: BANK OF MONTREAL) | (a) | 3.90% | 01/05/24 | 6,125,000 | 6,125,000 | |
Port of Seattle | ||||||
Intermediate Lien RB Series 2017C (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 7,500,000 | 7,500,000 | |
Intermediate Lien RB Series 2018A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.01% | 01/05/24 | 2,585,000 | 2,585,000 | |
Intermediate Lien RB Series 2018A (LIQ: ROYAL BANK OF CANADA) | (b)(c)(d) | 3.94% | 01/05/24 | 1,360,000 | 1,360,000 | |
Intermediate Lien RB Series 2019 (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 4.01% | 01/05/24 | 6,320,000 | 6,320,000 | |
Intermediate Lien Refunding RB Series 2022B (LIQ: BARCLAYS BANK PLC) | (b)(c)(d) | 3.94% | 01/05/24 | 3,630,000 | 3,630,000 | |
Sub Lien Refunding RB Series 2008 (LOC: BANK OF AMERICA NA) | (a) | 3.85% | 01/05/24 | 51,530,000 | 51,530,000 | |
Seattle | ||||||
Light & Power Refunding RB Series 2023A (LIQ: BANK OF AMERICA NA) | (b)(c)(d) | 3.90% | 01/05/24 | 3,330,000 | 3,330,000 | |
Washington | ||||||
GO Bonds Series 2003C (LIQ: MORGAN STANLEY BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 11,625,000 | 11,625,000 | |
GO Bonds Series 2022C (LIQ: CITIBANK NA) | (b)(c)(d) | 3.91% | 01/05/24 | 5,500,000 | 5,500,000 | |
GO Bonds Series 2023A (LIQ: JPMORGAN CHASE BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,675,000 | 1,675,000 | |
GO Bonds Series 2023B | 5.00% | 02/01/24 | 255,000 | 255,282 | ||
GO Bonds Series 2024A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 1,665,000 | 1,665,000 | |
GO Refunding Bonds Series R-2020A | 5.00% | 01/01/24 | 3,365,000 | 3,365,000 | ||
Motor Vehicle Fuel Tax GO Bonds Series 2015C | 5.00% | 02/01/24 | 120,000 | 120,127 | ||
Motor Vehicle Fuel Tax GO Refunding Bonds Series R-2020B | 5.00% | 01/01/24 | 4,105,000 | 4,105,000 | ||
Washington Economic Development Finance Auth | ||||||
Solid Waste Disposal RB (Waste Management) Series 2002D (LOC: JPMORGAN CHASE BANK NA) | (a) | 3.88% | 01/05/24 | 14,200,000 | 14,200,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Washington State Housing Finance Commission | ||||||
M/F Housing RB (Clark Island) Series 2007 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.92% | 01/05/24 | 5,560,000 | 5,560,000 | |
M/F Housing RB (Parkview Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.92% | 01/05/24 | 3,060,000 | 3,060,000 | |
M/F Housing RB (Urban Center Apts) Series 2012 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (a) | 3.80% | 01/05/24 | 800,000 | 800,000 | |
172,090,409 | ||||||
WEST VIRGINIA 0.2% | ||||||
West Virginia Hospital Finance Auth | ||||||
Hospital Refunding RB (Cabell Huntington Hospital) Series 2008B (LOC: TRUIST BANK) | (a) | 3.90% | 01/05/24 | 24,050,000 | 24,050,000 | |
WISCONSIN 1.3% | ||||||
Green Bay Redevelopment Auth | ||||||
Exempt Facility RB (Green Bay Packaging Inc) Series 2019 (LOC: WELLS FARGO BANK NA) | (a) | 3.95% | 01/05/24 | 73,400,000 | 73,400,000 | |
Wisconsin Health & Educational Facilities Auth | ||||||
RB (Univ of Wisconsin Medical Fdn) Series 2000 (LOC: JPMORGAN CHASE BANK NA) | (a) | 3.76% | 01/05/24 | 1,665,000 | 1,665,000 | |
Wisconsin Housing & Economic Development Auth | ||||||
Home Ownership RB Series 2003B (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 4.00% | 01/05/24 | 3,630,000 | 3,630,000 | |
Home Ownership RB Series 2015C (LIQ: ROYAL BANK OF CANADA) | (a) | 3.82% | 01/05/24 | 4,300,000 | 4,300,000 | |
Housing RB Series 2012B (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.82% | 01/05/24 | 1,640,000 | 1,640,000 | |
Housing RB Series 2018A (LIQ: WELLS FARGO BANK NA) | (b)(c)(d) | 3.90% | 01/05/24 | 4,500,000 | 4,500,000 | |
M/F Housing Bonds Series 2007C (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.85% | 01/05/24 | 5,360,000 | 5,360,000 | |
M/F Housing Bonds Series 2008A (LIQ: FEDERAL HOME LOAN BANKS) | (a) | 3.82% | 01/05/24 | 750,000 | 750,000 | |
Wisconsin Public Finance Auth | ||||||
Health System Refunding RB (Cone Health) Series 2023B (LOC: TD BANK NA) | (a) | 4.05% | 01/02/24 | 33,165,000 | 33,165,000 | |
Health System Refunding RB (Cone Health) Series 2023C (LOC: TD BANK NA) | (a) | 4.00% | 01/02/24 | 27,485,000 | 27,485,000 | |
Health System Refunding RB (Cone Health) Series 2023D (LOC: TRUIST BANK) | (a) | 3.90% | 01/05/24 | 44,420,000 | 44,420,000 | |
Solid Waste Disposal RB (Coleman Ponderosa) Series 2023 (LOC: AGRIBANK FCB) | (a) | 4.15% | 01/05/24 | 10,000,000 | 10,000,000 | |
210,315,000 | ||||||
WYOMING 0.9% | ||||||
Lincoln Cnty | ||||||
Pollution Control Refunding RB (ExxonMobil) Series 2014 | (a) | 3.95% | 01/02/24 | 34,020,000 | 34,020,000 | |
Pollution Control Refunding RB (ExxonMobil) Series 2014 | (a) | 4.00% | 01/02/24 | 45,700,000 | 45,700,000 | |
Sublette Cnty | ||||||
Pollution Control Refunding RB (Exxon Mobil) Series 2014 | (a) | 4.00% | 01/02/24 | 22,400,000 | 22,400,000 | |
Pollution Control Refunding RB (ExxonMobil) Series 2014 | (a) | 3.95% | 01/02/24 | 10,300,000 | 10,300,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Sweetwater Cnty | ||||||
RB (Simplot Phosphates) Series 2007 (LOC: COOPERATIEVE RABOBANK UA) | (a) | 3.93% | 01/05/24 | 32,700,000 | 32,700,000 | |
145,120,000 | ||||||
MULTIPLE STATES 6.2% | ||||||
Nuveen AMT-Free Municipal Credit Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: JPMORGAN CHASE BANK NA) | (a)(b) | 3.93% | 01/05/24 | 58,400,000 | 58,400,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.93% | 01/05/24 | 33,000,000 | 33,000,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.92% | 01/05/24 | 80,500,000 | 80,500,000 | |
Nuveen AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 3 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b) | 3.92% | 01/05/24 | 26,500,000 | 26,500,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: BARCLAYS BANK PLC) | (a)(b) | 3.92% | 01/05/24 | 264,800,000 | 264,800,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.92% | 01/05/24 | 25,000,000 | 25,000,000 | |
Variable Rate Demand Preferred Shares Series C (LOC: SOCIETE GENERALE SA) | (a)(b) | 3.93% | 01/05/24 | 93,300,000 | 93,300,000 | |
Nuveen Municipal Credit Opportunities Fund | ||||||
Variable Rate Demand Preferred Shares Series A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(b) | 3.97% | 01/05/24 | 61,400,000 | 61,400,000 | |
Nuveen Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: BARCLAYS BANK PLC) | (a)(b) | 3.97% | 01/05/24 | 181,200,000 | 181,200,000 | |
Variable Rate Demand Preferred Shares Series 2 (LOC: BARCLAYS BANK PLC) | (a)(b) | 3.97% | 01/05/24 | 95,600,000 | 95,600,000 | |
Western Asset Intermediate Municipal Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b) | 3.97% | 01/05/24 | 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) | 3.97% | 01/05/24 | 71,000,000 | 71,000,000 | |
Variable Rate Demand Preferred Shares Series 2 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b) | 3.97% | 01/05/24 | 12,600,000 | 12,600,000 | |
1,032,500,000 | ||||||
Total Municipal Securities (Cost $16,359,253,972) | 16,359,253,972 | |||||
Total Investments in Securities (Cost $16,359,253,972) | 16,359,253,972 |
(a) | 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. |
(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 $3,820,596,000 or 23.1% of net assets. |
(c) | Variable rate security; rate shown is effective rate at period end. |
(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 |
CCD — | Community college district |
COP — | Certificate of participation |
CP — | Commercial paper |
CSD — | Central school district |
GO — | General obligation |
HFA — | Housing finance agency/authority |
IDA — | Industrial development agency/authority |
IDB — | Industrial development bond |
IDC — | Industrial development corporation |
IDRB — | Industrial development revenue bond |
ISD — | Independent school district |
LIQ — | Liquidity agreement |
LOC — | Letter of credit |
LT — | Limited tax |
M/F — | Multi-family |
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 |
UFSD — | Union free school district |
ULT — | Unlimited tax |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $16,359,253,972 | |
Cash | 534,633 | |
Receivables: | ||
Fund shares sold | 184,499,375 | |
Interest | 85,645,037 | |
Investments sold | 12,391,522 | |
Prepaid expenses | + | 332,923 |
Total assets | 16,642,657,462 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 49,267,162 | |
Investments bought | 21,509,994 | |
Distributions to shareholders | 18,595,279 | |
Investment adviser and administrator fees | 2,444,036 | |
Shareholder service fees | 81,104 | |
Independent trustees’ fees | 162 | |
Accrued expenses | + | 464,581 |
Total liabilities | 92,362,318 | |
Net assets | $16,550,295,144 | |
Net Assets by Source | ||
Capital received from investors | $16,550,294,973 | |
Total distributable earnings | + | 171 |
Net assets | $16,550,295,144 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $4,002,948,820 | 4,001,925,680 | $1.00 | ||
Ultra Shares | $12,547,346,324 | 12,544,194,157 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $508,007,531 | |
Expenses | ||
Investment adviser and administrator fees | 28,855,942 | |
Shareholder service fees: | ||
Investor Shares | 5,382,024 | |
Registration fees | 1,440,698 | |
Portfolio accounting fees | 229,532 | |
Custodian fees | 191,948 | |
Shareholder reports | 116,673 | |
Professional fees | 74,886 | |
Independent trustees’ fees | 55,349 | |
Transfer agent fees | 1,333 | |
Other expenses | + | 121,312 |
Total expenses | 36,469,697 | |
Expense reduction | – | 2,214,131 |
Net expenses | – | 34,255,566 |
Net investment income | 473,751,965 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 318,040 | |
Increase in net assets resulting from operations | $474,070,005 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $473,751,965 | $130,295,597 | |
Net realized gains | + | 318,040 | 1,284,144 |
Increase in net assets from operations | $474,070,005 | $131,579,741 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($108,431,828 ) | ($23,196,120 ) | |
Ultra Shares | + | (365,521,336 ) | (108,330,773 ) |
Total distributions | ($473,953,164 ) | ($131,526,893 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 7,683,763,914 | 4,437,059,113 | |
Ultra Shares | + | 28,650,362,106 | 19,362,303,224 |
Total shares sold | 36,334,126,020 | 23,799,362,337 | |
Shares Reinvested | |||
Investor Shares | 76,224,652 | 16,653,040 | |
Ultra Shares | + | 270,193,609 | 79,591,772 |
Total shares reinvested | 346,418,261 | 96,244,812 | |
Shares Redeemed | |||
Investor Shares | (6,711,058,724 ) | (3,096,572,730 ) | |
Ultra Shares | + | (27,954,683,454 ) | (14,264,935,882 ) |
Total shares redeemed | (34,665,742,178 ) | (17,361,508,612 ) | |
Net transactions in fund shares | 2,014,802,103 | 6,534,098,537 | |
NET ASSETS | |||
Beginning of period | $14,535,376,200 | $8,001,224,815 | |
Total increase | + | 2,014,918,944 | 6,534,151,385 |
End of period | $16,550,295,144 | $14,535,376,200 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
Investor Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
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)1 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 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 | 0.03 | 0.01 | 0.00 2 | 0.00 2 | 0.01 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Distributions from net realized gains | (0.00 )2 | — | (0.00 )2 | — | — | |
Total distributions | (0.03 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.01 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 3.02 % | 0.90 % | 0.02 % | 0.34 % | 1.19 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.34 % | 0.31 %3,4 | 0.11 %4 | 0.31 %4,5 | 0.35 % | |
Gross operating expenses | 0.38 % | 0.37 %3 | 0.37 % | 0.49 % | 0.52 % | |
Net investment income (loss) | 2.97 % | 1.01 % | 0.01 % | 0.38 % | 1.17 % | |
Net assets, end of period (x 1,000,000) | $1,075 | $875 | $644 | $835 | $1,273 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
5 | Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 9/24/201– 12/31/20 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.03 | 0.01 | 0.00 3 | 0.00 3 | ||
Net realized and unrealized gains (losses) | 0.00 3 | (0.00 )3 | 0.00 3 | 0.00 3 | ||
Total from investment operations | 0.03 | 0.01 | 0.00 3 | 0.00 3 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.03 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Distributions from net realized gains | (0.00 )3 | — | (0.00 )3 | — | ||
Total distributions | (0.03 ) | (0.01 ) | (0.00 )3 | (0.00 )3 | ||
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | ||
Total return | 3.17 % | 1.03 % | 0.02 % | 0.01 %4 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.19 %5,6 | 0.11 %6 | 0.19 %6,7 | ||
Gross operating expenses | 0.23 % | 0.22 %5 | 0.22 % | 0.22 %7 | ||
Net investment income (loss) | 3.17 % | 1.50 % | 0.01 % | 0.02 %7 | ||
Net assets, end of period (x 1,000,000) | $2,065 | $967 | $161 | $229 |
1 | Commencement of operations. |
2 | Calculated based on the average shares outstanding during the period. |
3 | Per-share amount was less than $0.005. |
4 | Not annualized. |
5 | Ratio includes less than 0.005% of non-routine proxy expenses. |
6 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
7 | Annualized. |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MUNICIPAL SECURITIES 99.2% OF NET ASSETS | ||||||
ALABAMA 2.4% | ||||||
Alabama Special Care Facility Financing Auth | ||||||
RB (Ascension Health) Series 2016B (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,965,000 | 1,965,000 | |
Black Belt Energy Gas District | ||||||
Gas Project RB Series 2023A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 12,500,000 | 12,500,000 | |
Gas Project RB Series 2023C (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 5,520,000 | 5,520,000 | |
Gas Supply RB Series 2023B | (a)(b)(c) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
Huntsville Health Care Auth | ||||||
CP | 3.68% | 03/07/24 | 5,000,000 | 5,000,000 | ||
Mobile Cnty IDA | ||||||
Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B (LOC: SWEDBANK AB) | (d) | 4.08% | 01/05/24 | 7,000,000 | 7,000,000 | |
Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (LOC: NORDEA BANK ABP) | (d) | 4.08% | 01/05/24 | 20,000,000 | 20,000,000 | |
Recovery Zone Facility RB (SSAB Alabama) Series 2010A (LOC: SWEDBANK AB) | (d) | 4.08% | 01/05/24 | 12,920,000 | 12,920,000 | |
Southeast Energy Auth | ||||||
Commodity Supply RB Series 2023B | (a)(b)(c) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
Southeast Energy Auth Cooperative District | ||||||
Commodity Supply RB Series 2023A (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,335,000 | 2,335,000 | |
75,240,000 | ||||||
ALASKA 0.0% | ||||||
Valdez | ||||||
Refunding RB (Exxon Pipeline) Series 2001 | (d) | 3.95% | 01/02/24 | 1,000,000 | 1,000,000 | |
ARIZONA 2.9% | ||||||
Arizona Health Facilities Auth | ||||||
RB (Banner Health) Series 2007B (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 10,000,000 | 10,000,000 | |
Arizona IDA | ||||||
Hospital Refunding RB (Phoenix Childrens Hospital) Series 2019B (LOC: BANK OF AMERICA NA) | (d) | 4.00% | 01/02/24 | 36,100,000 | 36,100,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Maricopa Cnty IDA | ||||||
Hospital RB (HonorHealth) Series 2021C (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,500,000 | 2,500,000 | |
Phoenix IDA | ||||||
Health Care Facilities RB (Mayo Clinic) Series 2014A (LIQ: BANK OF AMERICA NA) | (d) | 3.99% | 01/02/24 | 10,170,000 | 10,170,000 | |
Salt River Project Agricultural Improvement & Power District | ||||||
Electric System RB Series 2023B (LIQ: DEUTSCHE BANK AG) | (a)(b)(c) | 3.92% | 01/05/24 | 5,050,000 | 5,050,000 | |
Electric System RB Series 2023B (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.89% | 01/05/24 | 7,500,000 | 7,500,000 | |
Yavapai Cnty IDA | ||||||
RB (Skanon Investments Drake Cement) Series 2010A (LOC: BANK OF NOVA SCOTIA) | (d) | 3.95% | 01/05/24 | 18,500,000 | 18,500,000 | |
89,820,000 | ||||||
CALIFORNIA 0.8% | ||||||
California Statewide Communities Development Auth | ||||||
RB (Kaiser Permanente) Series 2009B2 | 3.45% | 01/03/24 | 5,000,000 | 4,999,941 | ||
Los Angeles Dept of Water & Power | ||||||
Power System RB Series 2023F2 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.15% | 01/02/24 | 17,600,000 | 17,600,000 | |
San Diego USD | ||||||
GO Bonds Series 2022F2 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,920,000 | 2,920,000 | |
25,519,941 | ||||||
COLORADO 1.5% | ||||||
Colorado | ||||||
COP Series 2021S (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 4,540,000 | 4,540,000 | |
TRAN 2023A | 5.00% | 06/28/24 | 2,295,000 | 2,307,362 | ||
Colorado Health Facilities Auth | ||||||
Hospital RB (Advent Health) Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 7,815,000 | 7,815,000 | |
RB (Children’s Hospital Colorado) Series 2016B (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 1,365,000 | 1,365,000 | |
RB (CommonSpirit Health) Series 2019A2 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,670,000 | 1,670,000 | |
RB (Intermountain Healthcare) Series 2022A (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,800,000 | 2,800,000 | |
RB (SCL Health System) Series 2016D | (d) | 3.90% | 01/05/24 | 20,000,000 | 20,000,000 | |
Refunding RB (IHC Health Services) Series 2019A | 5.00% | 01/01/24 | 1,245,000 | 1,245,000 | ||
Denver | ||||||
Dedicated Tax RB Series 2021A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
Denver SD #1 | ||||||
GO Bonds Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,400,000 | 1,400,000 | |
47,142,362 | ||||||
CONNECTICUT 0.3% | ||||||
Connecticut Development Auth | ||||||
Refunding RB (Bradley Airport Hotel) Series 2006A (LOC: TD BANK NA) | (d) | 3.97% | 01/05/24 | 8,615,000 | 8,615,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
DISTRICT OF COLUMBIA 0.6% | ||||||
District of Columbia | ||||||
Income Tax Secured RB Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 4,480,000 | 4,480,000 | |
Income Tax Secured RB Series 2020A | 5.00% | 03/01/24 | 415,000 | 415,608 | ||
District of Columbia Water & Sewer Auth | ||||||
Extendible CP Series A | 3.86% | 02/06/24 | 06/28/24 | 12,000,000 | 12,000,000 | |
Public Utility Sub Lien RB Series 2014B2 (LIQ: TD BANK NA) | (d) | 3.90% | 01/05/24 | 1,250,000 | 1,250,000 | |
Metropolitan Washington Airports Auth | ||||||
Airport System RB Series 2009D2 (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 900,000 | 900,000 | |
19,045,608 | ||||||
FLORIDA 2.7% | ||||||
Collier Cnty Health Facilities Auth | ||||||
RB (Cleveland Clinic) Series 2003C1 | 3.57% | 04/03/24 | 6,905,000 | 6,905,000 | ||
Florida Housing Finance Corp | ||||||
M/F Housing RB (Hudson Ridge Apts) Series 2008L (LOC: JPMORGAN CHASE BANK NA) | (d) | 3.92% | 01/05/24 | 3,585,000 | 3,585,000 | |
M/F Mortgage RB (Mariner’s Cay Apts) Series 2008M (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (d) | 3.83% | 01/05/24 | 2,425,000 | 2,425,000 | |
Florida State Board of Education | ||||||
Public Education Capital Outlay Refunding Bonds Series 2021B | 5.00% | 06/01/24 | 550,000 | 552,200 | ||
Jacksonville | ||||||
CP Series A (LOC: BANK OF AMERICA NA) | 3.75% | 01/03/24 | 12,000,000 | 12,000,000 | ||
Manatee Cnty | ||||||
Refunding RB Series 2022 (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.92% | 01/05/24 | 5,000,000 | 5,000,000 | |
Miami-Dade Cnty | ||||||
GO Bonds Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 2,635,000 | 2,635,000 | |
Special Obligation RB Series 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.93% | 01/05/24 | 11,790,000 | 11,790,000 | |
Transit System Sales Surtax RB Series 2020A & 2018 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 5,430,000 | 5,430,000 | |
Transit System Sales Surtax RB Series 2022 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 31,565,000 | 31,565,000 | |
South Broward Hospital District | ||||||
Hospital RB Series 2016A & 2018 (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,415,000 | 1,415,000 | |
83,302,200 | ||||||
GEORGIA 1.3% | ||||||
Atlanta | ||||||
Water & Wastewater CP Series 2021 (LOC: WELLS FARGO BANK NA) | 3.85% | 01/25/24 | 12,607,000 | 12,606,987 | ||
Atlanta Hartsfield-Jackson Airport | ||||||
Airport CP Notes Series N1 (LOC: PNC BANK NA) | 4.05% | 01/09/24 | 555,000 | 555,000 | ||
Brookhaven Development Auth | ||||||
RB (Children’s Healthcare of Atlanta) Series 2019A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 3,810,000 | 3,810,000 | |
Columbia Cnty Hospital Auth | ||||||
Revenue Anticipation Certificates (Wellstar Health) Series 2023A (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 3,650,000 | 3,650,000 | |
Georgia Municipal Electric Auth | ||||||
Plant Vogtle Units 3 & 4 Project M Bonds Series 2019A (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 5,000,000 | 5,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Main Street Natural Gas Inc | ||||||
Gas Supply RB Series 2023B | (a)(b)(c) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
Gas Supply RB Series 2023C | (a)(b)(c) | 3.90% | 01/05/24 | 2,710,000 | 2,710,000 | |
Gas Supply RB Series 2023E2 | (a)(b)(c) | 3.90% | 01/05/24 | 10,000,000 | 10,000,000 | |
42,331,987 | ||||||
IDAHO 0.2% | ||||||
Idaho Health Facilities Auth | ||||||
Hospital RB (Trinity Health) Series 2013ID | 4.30% | 02/01/24 | 6,500,000 | 6,500,000 | ||
ILLINOIS 2.7% | ||||||
Chicago Transit Auth | ||||||
2nd Lien Sales Tax RB Series 2017 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 4,400,000 | 4,400,000 | |
Illinois Finance Auth | ||||||
Pooled Program CP (LOC: JPMORGAN CHASE BANK NA) | 3.70% | 04/03/24 | 5,000,000 | 5,000,000 | ||
RB (Advocate Health) Series 2008C-1 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 3.90% | 01/05/24 | 2,100,000 | 2,100,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 7,695,000 | 7,695,000 | |
RB (Northshore Edward Elmhurst Health) Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 7,500,000 | 7,500,000 | |
RB (Univ of Chicago Medical Center) Series 2009D1 (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 2,195,000 | 2,195,000 | |
RB (Univ of Chicago Medical Center) Series 2009D2 (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 1,420,000 | 1,420,000 | |
RB (Univ of Chicago Medical Center) Series 2016B (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 10,900,000 | 10,900,000 | |
RB (Univ of Chicago) Series 2018A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 4.12% | 01/02/24 | 1,550,000 | 1,550,000 | |
RB (YMCA of Metropolitan Chicago) Series 2001 (LOC: BMO BANK NA) | (d) | 3.90% | 01/05/24 | 4,700,000 | 4,700,000 | |
Refunding RB (Advocate Health) Series 2014 (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,460,000 | 3,460,000 | |
Refunding RB (OSF Healthcare System) Series 2018B (LOC: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 1,845,000 | 1,845,000 | |
Illinois Housing Development Auth | ||||||
M/F Housing RB (Foxview I & II Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (d) | 3.82% | 01/05/24 | 4,370,000 | 4,370,000 | |
RB Series 2023D (LIQ: CITIBANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 5,000,000 | 5,000,000 | |
Illinois Regional Transportation Auth | ||||||
GO Bonds Series 2000A (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.91% | 01/05/24 | 6,665,000 | 6,665,000 | |
GO Bonds Series 2018B (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.93% | 01/05/24 | 3,000,000 | 3,000,000 | |
GO Bonds Series 2018B (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,195,000 | 2,195,000 | |
Illinois Toll Highway Auth | ||||||
Toll Highway Sr RB Series 2016B (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,165,000 | 2,165,000 | |
Toll Highway Sr RB Series 2019A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.93% | 01/05/24 | 2,000,000 | 2,000,000 | |
Toll Highway Sr RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.93% | 01/05/24 | 1,975,000 | 1,975,000 | |
Toll Highway Sr RB Series 2021A (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 2,665,000 | 2,665,000 | |
Toll Highway Sr RB Series 2023A (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.93% | 01/05/24 | 2,650,000 | 2,650,000 | |
85,450,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
INDIANA 3.1% | ||||||
Indiana Finance Auth | ||||||
Economic Development RB (AC Grain) Series 2012 (LOC: COBANK ACB) | (d) | 3.90% | 01/05/24 | 28,500,000 | 28,500,000 | |
Economic Development RB (Cargill) Series 2011 | (d) | 3.90% | 01/05/24 | 11,000,000 | 11,000,000 | |
Environmental Refunding RB (Duke Energy Indiana) Series 2009A4 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 4.15% | 01/02/24 | 24,560,000 | 24,560,000 | |
Health Facilities RB (Baptist Healthcare) Series 2017A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,500,000 | 2,500,000 | |
Hospital RB (Parkview Health System) Series 2009B (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 4.20% | 01/05/24 | 15,190,000 | 15,190,000 | |
Refunding RB (Trinity Health) Series 2008D2 | 3.76% | 01/04/24 | 7,200,000 | 7,200,000 | ||
Indiana Housing & Community Development Agency | ||||||
S/F Mortgage RB Series 2017B3 (LIQ: TD BANK NA) | (d) | 4.00% | 01/02/24 | 9,190,000 | 9,190,000 | |
98,140,000 | ||||||
IOWA 0.9% | ||||||
Iowa Finance Auth | ||||||
Health Facilities RB (UnityPoint Health) Series 2013B2 (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 4,025,000 | 4,025,000 | |
Midwestern Disaster Area RB (Cargill) Series 2009A | (d) | 3.90% | 01/05/24 | 13,000,000 | 13,000,000 | |
Midwestern Disaster Area RB (Cargill) Series 2009B | (d) | 3.90% | 01/05/24 | 1,390,000 | 1,390,000 | |
Midwestern Disaster Area RB (Cargill) Series 2012 | (d) | 3.90% | 01/05/24 | 7,000,000 | 7,000,000 | |
Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 (LOC: COBANK ACB) | (d) | 4.15% | 01/05/24 | 4,060,000 | 4,060,000 | |
29,475,000 | ||||||
KENTUCKY 3.0% | ||||||
Boone Cnty | ||||||
Pollution Control Refunding RB (Duke Energy) Series 2010 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 3.95% | 01/05/24 | 2,465,000 | 2,465,000 | |
Louisville & Jefferson Cnty Metro Government | ||||||
Health System RB (Norton Health) Series 2023C (LOC: TRUIST BANK) | (d) | 4.00% | 01/02/24 | 13,000,000 | 13,000,000 | |
Health System RB (Norton Healthcare) Series 2011A (LOC: PNC BANK NA) | (d) | 3.79% | 01/05/24 | 2,165,000 | 2,165,000 | |
Health System RB (Norton Healthcare) Series 2023D (LOC: TRUIST BANK) | (d) | 4.00% | 01/02/24 | 15,000,000 | 15,000,000 | |
Louisville & Jefferson Cnty Metro Sewer District | ||||||
Sewer & Drainage System Sub CP Series 2023A1 (LIQ: BANK OF AMERICA NA) | 3.70% | 01/03/24 | 11,243,400 | 11,243,400 | ||
Sewer & Drainage System Sub CP Series 2023A1 (LIQ: BANK OF AMERICA NA) | 3.75% | 01/24/24 | 23,000,000 | 23,000,000 | ||
Sewer & Drainage System Sub CP Series 2023A1 (LIQ: BANK OF AMERICA NA) | 3.80% | 01/24/24 | 2,000,000 | 2,000,000 | ||
Sewer & Drainage System Sub CP Series 2023A2 (LIQ: JPMORGAN CHASE BANK NA) | 3.55% | 01/03/24 | 6,187,000 | 6,187,000 | ||
Sewer & Drainage System Sub CP Series 2023A2 (LIQ: JPMORGAN CHASE BANK NA) | 3.82% | 01/24/24 | 5,000,000 | 5,000,000 | ||
Sewer & Drainage System Sub CP Series 2023A2 (LIQ: JPMORGAN CHASE BANK NA) | 3.90% | 01/24/24 | 8,900,000 | 8,900,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Public Energy Auth of Kentucky | ||||||
Gas Supply Refunding RB Series 2023A1 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 4,765,000 | 4,765,000 | |
93,725,400 | ||||||
LOUISIANA 0.2% | ||||||
Plaquemines Port, Harbor & Terminal District | ||||||
Port Facilities Refunding RB Series 1984B (LOC: WELLS FARGO BANK NA) | 4.00% | 03/15/24 | 5,000,000 | 5,000,000 | ||
MARYLAND 1.2% | ||||||
Howard Cnty | ||||||
Recovery Zone Facility RB (Lorien at Elkridge) Series 2010 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 4.03% | 01/05/24 | 6,250,000 | 6,250,000 | |
Recovery Zone Facility RB (Meadowridge) Series 2010 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 4.03% | 01/05/24 | 6,695,000 | 6,695,000 | |
Maryland Stadium Auth | ||||||
RB (Baltimore City Public Schools) Series 2020A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/04/24 | 01/05/24 | 3,800,000 | 3,800,000 |
Montgomery Cnty | ||||||
RB (Trinity Health) Series 2013MD | 3.81% | 03/01/24 | 4,750,000 | 4,750,000 | ||
RB (Trinity Health) Series 2015MD (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 8,810,000 | 8,810,000 | |
Montgomery Cnty Housing Opportunities Commission | ||||||
M/F Housing RB Series 2023A (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 5,350,000 | 5,350,000 | |
Washington Suburban Sanitary District | ||||||
GO BAN Series A (LIQ: TD BANK NA) | (d) | 4.07% | 01/02/24 | 1,700,000 | 1,700,000 | |
37,355,000 | ||||||
MASSACHUSETTS 2.4% | ||||||
Massachusetts | ||||||
Commonwealth Transportation Fund RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 4,000,000 | 4,000,000 | |
Commonwealth Transportation Fund RB Series 2023A (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.87% | 01/05/24 | 12,200,000 | 12,200,000 | |
GO BAN Series A (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/04/24 | 01/05/24 | 5,475,000 | 5,475,000 |
GO Bonds Series 2016B (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,460,000 | 2,460,000 | |
GO Bonds Series 2022C (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.89% | 01/05/24 | 1,000,000 | 1,000,000 | |
GO Refunding Bonds Series 2019A | 5.00% | 01/01/24 | 130,000 | 130,000 | ||
RB (Rail Enhancement) Series 2022A (LIQ: DEUTSCHE BANK AG) | (a)(b)(c) | 3.92% | 01/05/24 | 7,320,000 | 7,320,000 | |
Massachusetts Dept of Transportation | ||||||
Highway System Sub Refunding RB Series 2022A1 (LIQ: TD BANK NA) | (d) | 3.82% | 01/05/24 | 4,000,000 | 4,000,000 | |
Massachusetts Development Finance Agency | ||||||
RB (Chelsea Jewish Lifecare) Series 2019 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (a)(d) | 4.03% | 01/05/24 | 4,875,000 | 4,875,000 | |
Massachusetts HFA | ||||||
Housing RB Series 2016I (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 4.21% | 01/02/24 | 14,745,000 | 14,745,000 | |
Housing RB Series 2018B (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 4.21% | 01/02/24 | 1,300,000 | 1,300,000 | |
Massachusetts Water Resources Auth | ||||||
Water CP Series 2016 (LOC: TD BANK NA) | 3.63% | 03/13/24 | 10,000,000 | 10,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Univ of Massachusetts Building Auth | ||||||
CP Notes Series 2013A1 (LIQ: TD BANK NA) | 3.95% | 01/11/24 | 9,312,000 | 9,312,000 | ||
76,817,000 | ||||||
MICHIGAN 0.8% | ||||||
Lenawee Cnty Economic Development Corp | ||||||
Refunding RB (Siena Heights Univ) Series 2009 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 3.90% | 01/05/24 | 2,980,000 | 2,980,000 | |
Michigan Finance Auth | ||||||
Hospital Refunding RB (Henry Ford Health System) Series 2016 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 4,550,000 | 4,550,000 | |
Hospital Refunding RB (Trinity Health) Series 2017MI (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 4.22% | 01/02/24 | 1,045,000 | 1,045,000 | |
Michigan Hospital Finance Auth | ||||||
Refunding RB (Ascension Health) Series 2010F7 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,250,000 | 1,250,000 | |
Michigan Housing Development Auth | ||||||
Rental Housing RB Series 2022B (LOC: BANK OF AMERICA NA) | (d) | 3.78% | 01/05/24 | 1,970,000 | 1,970,000 | |
S/F Mortgage RB Series 2023B (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
Univ of Michigan | ||||||
General RB Series 2009B | 3.64% | 03/06/24 | 5,000,000 | 5,000,000 | ||
General RB Series 2017A (ESCROW) (LIQ: CITIBANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 5,760,000 | 5,760,000 | |
24,555,000 | ||||||
MINNESOTA 1.1% | ||||||
Burnsville | ||||||
M/F Housing Refunding RB (Bridgeway Apts) Series 2003 (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (d) | 3.95% | 01/05/24 | 1,175,000 | 1,175,000 | |
Eden Prairie | ||||||
M/F Housing Refunding RB (Park At City West Apts) Series 2001 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (d) | 3.91% | 01/05/24 | 14,805,000 | 14,805,000 | |
Rochester | ||||||
Health Care Facilities RB (Mayo Clinic) Series 2016 | (d) | 3.78% | 01/05/24 | 20,000,000 | 20,000,000 | |
35,980,000 | ||||||
MISSISSIPPI 2.4% | ||||||
Jackson Cnty | ||||||
Water System GO Refunding Bonds Series 1994 | 3.75% | 02/01/24 | 1,350,000 | 1,350,000 | ||
Mississippi Business Finance Corp | ||||||
Gulf Opportunity Zone IDRB (Chevron) Series 2010A | (d) | 3.80% | 01/05/24 | 15,000,000 | 15,000,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2010C | (d) | 3.78% | 01/05/24 | 15,000,000 | 15,000,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2011D | (d) | 4.15% | 01/02/24 | 1,775,000 | 1,775,000 | |
Gulf Opportunity Zone IDRB (Chevron) Series 2011E | (d) | 3.95% | 01/02/24 | 1,300,000 | 1,300,000 | |
IDRB (Chevron) Series 2007A | (d) | 3.95% | 01/02/24 | 23,500,000 | 23,500,000 | |
IDRB (Chevron) Series 2007C | (d) | 3.95% | 01/02/24 | 450,000 | 450,000 | |
IDRB (Chevron) Series 2010H | (d) | 4.15% | 01/02/24 | 1,510,000 | 1,510,000 | |
IDRB (Chevron) Series 2011B | (d) | 4.15% | 01/02/24 | 11,130,000 | 11,130,000 | |
Mississippi Home Corp | ||||||
S/F Mortgage RB Series 2023C (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 5,200,000 | 5,200,000 | |
76,215,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
MISSOURI 0.9% | ||||||
Kansas City | ||||||
Special Obligation Refunding RB (H. Roe Bartle Convention Ctr) Series 2008F (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 3.86% | 01/05/24 | 1,100,000 | 1,100,000 | |
Missouri Health & Educational Facilities Auth | ||||||
Health Facilities RB (BJC Health) Series 2008D | (d) | 3.90% | 01/05/24 | 6,630,000 | 6,630,000 | |
Health Facilities RB (Mercy Health) Series 2023 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,520,000 | 3,520,000 | |
Health Facilities RB (SSM Health) Series 2019A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.91% | 01/05/24 | 4,000,000 | 4,000,000 | |
RB (Ascension Health) Series 2003C2 | (d) | 4.25% | 01/05/24 | 5,995,000 | 5,995,000 | |
St Louis County | ||||||
Special Obligation RB (Convention Center) Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,545,000 | 1,545,000 | |
St. Louis IDA | ||||||
Health Care Facilities RB (Mid-America Transplant) Series 2013 (LOC: BMO BANK NA) | (d) | 4.00% | 01/02/24 | 4,300,000 | 4,300,000 | |
27,090,000 | ||||||
NEBRASKA 0.3% | ||||||
Central Plains Energy | ||||||
Gas RB Series 2022-1 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 655,000 | 655,000 | |
Gas Refunding RB Series 2017A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 4,740,000 | 4,740,000 | |
Washington Cnty | ||||||
IDRB (Cargill) Series 2010B | (d) | 3.90% | 01/05/24 | 3,500,000 | 3,500,000 | |
8,895,000 | ||||||
NEW JERSEY 0.2% | ||||||
Brigantine NJ | ||||||
Temporary Note | 4.75% | 09/25/24 | 5,000,000 | 5,037,636 | ||
NEW YORK 20.9% | ||||||
Bayport Blue Point UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/26/24 | 3,500,000 | 3,520,727 | ||
Bethlehem CSD | ||||||
BAN 2023B | 4.75% | 07/12/24 | 3,300,000 | 3,320,050 | ||
Burnt Hills - Ballston Lake CSD | ||||||
GO BAN Series 2023 | 4.50% | 06/21/24 | 4,400,000 | 4,417,248 | ||
Cazenovia CSD | ||||||
GO BAN 2023 | 4.75% | 07/12/24 | 2,545,000 | 2,559,940 | ||
Cheektowaga-Maryvale UFSD | ||||||
BAN 2023 | 5.00% | 07/24/24 | 4,775,000 | 4,807,586 | ||
Connetquot CSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 5,000,000 | 5,031,259 | ||
Deer Park UFSD | ||||||
TAN Series 2023-2024 | 4.75% | 06/25/24 | 2,000,000 | 2,011,506 | ||
East Islip UFSD | ||||||
GO TAN 2023 | 5.25% | 06/27/24 | 2,500,000 | 2,514,768 | ||
Eastport South Manor CSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 3,000,000 | 3,014,624 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Farmingdale NY | ||||||
BAN 2023B | 5.00% | 09/26/24 | 3,500,000 | 3,532,112 | ||
Hampton Bays UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/21/24 | 2,000,000 | 2,012,012 | ||
Harborfields CSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 800,000 | 804,114 | ||
Hauppauge UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/25/24 | 3,000,000 | 3,019,294 | ||
Kenmore Tonawanda UFSD | ||||||
GO BAN 2023 | 4.75% | 06/27/24 | 5,515,000 | 5,544,338 | ||
Kingston | ||||||
BAN 2023A | 4.00% | 08/15/24 | 2,705,000 | 2,705,000 | ||
Lindenhurst Union Free SD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 4,500,000 | 4,528,545 | ||
Manhasset UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/21/24 | 3,000,000 | 3,020,085 | ||
Metropolitan Transportation Auth | ||||||
Dedicated Tax Fund Refunding Bonds Series 2008A-1 (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 2,630,000 | 2,630,000 | |
Dedicated Tax Fund Refunding Bonds Series 2008A-2A (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 725,000 | 725,000 | |
Transportation RB Series 2015E3 (LOC: BANK OF AMERICA NA) | (d) | 4.00% | 01/02/24 | 22,405,000 | 22,405,000 | |
Middle Country CSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 3,500,000 | 3,523,913 | ||
New York City | ||||||
GO Bonds Fiscal 2006 Series I-8 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 4.00% | 01/02/24 | 825,000 | 825,000 | |
GO Bonds Fiscal 2012 Series D-3A (LIQ: BANK OF NEW YORK MELLON/THE) | (d) | 4.07% | 01/02/24 | 5,900,000 | 5,900,000 | |
GO Bonds Fiscal 2013 Series F3 (LIQ: BANK OF AMERICA NA) | (d) | 4.00% | 01/02/24 | 19,100,000 | 19,100,000 | |
GO Bonds Fiscal 2015 Series F5 (LIQ: BARCLAYS BANK PLC) | (d) | 4.10% | 01/02/24 | 325,000 | 325,000 | |
GO Bonds Fiscal 2017 Series A5 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 2,095,000 | 2,095,000 | |
GO Bonds Fiscal 2018 Series B4 (LIQ: BARCLAYS BANK PLC) | (d) | 4.10% | 01/02/24 | 6,945,000 | 6,945,000 | |
GO Bonds Fiscal 2019 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 4.10% | 01/02/24 | 7,200,000 | 7,200,000 | |
GO Bonds Fiscal 2022 Series D1 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
GO Bonds Fiscal 2022 Series D3 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 4.00% | 01/02/24 | 53,320,000 | 53,320,000 | |
GO Bonds Fiscal 2022 Series D4 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 4.00% | 01/02/24 | 14,750,000 | 14,750,000 | |
New York City Housing Development Corp | ||||||
M/F Housing RB Series 2023E3 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 3.90% | 01/05/24 | 1,600,000 | 1,600,000 | |
New York City Municipal Water Finance Auth | ||||||
Water & Sewer 2nd Resolution RB Fiscal 2022 Series CC1 (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,205,000 | 3,205,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2007 Series CC2 (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 3.95% | 01/02/24 | 3,100,000 | 3,100,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA (LIQ: MIZUHO BANK LTD) | (d) | 4.00% | 01/02/24 | 1,225,000 | 1,225,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 (LIQ: TD BANK NA) | (d) | 4.00% | 01/02/24 | 3,900,000 | 3,900,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 (LIQ: BANK OF AMERICA NA) | (d) | 4.00% | 01/02/24 | 1,600,000 | 1,600,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,835,000 | 1,835,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,255,000 | 2,255,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1&3 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 920,000 | 920,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,300,000 | 1,300,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 (LIQ: MIZUHO BANK LTD) | (d) | 4.10% | 01/02/24 | 3,785,000 | 3,785,000 | |
Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & 2020 Series BB (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.90% | 01/05/24 | 8,445,000 | 8,445,000 | |
Water & Sewer System RB Fiscal 2008 Series BB3&BB4 (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 4.10% | 01/02/24 | 17,720,000 | 17,720,000 | |
Water & Sewer System RB Fiscal 2010 Series CC (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 4.00% | 01/02/24 | 1,705,000 | 1,705,000 | |
Water & Sewer System RB Fiscal 2011 Series DD1 (LIQ: TD BANK NA) | (d) | 4.00% | 01/02/24 | 2,370,000 | 2,370,000 | |
Water & Sewer System RB Fiscal 2021 Series CC1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,445,000 | 2,445,000 | |
Water & Sewer System RB Fiscal 2023 Series AA3 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 2,100,000 | 2,100,000 | |
Water & Sewer System RB Fiscal 2023 Series BB2 (LIQ: MIZUHO BANK LTD) | (d) | 4.00% | 01/02/24 | 13,960,000 | 13,960,000 | |
New York City Transitional Finance Auth | ||||||
Future Tax Secured Sub Bonds Fiscal 2015 Series E3 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 6,800,000 | 6,800,000 | |
Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (LIQ: BANK OF AMERICA NA) | (d) | 4.00% | 01/02/24 | 945,000 | 945,000 | |
Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 16,510,000 | 16,510,000 | |
Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 4.22% | 01/02/24 | 990,000 | 990,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 2,250,000 | 2,250,000 | |
Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.10% | 01/02/24 | 12,000,000 | 12,000,000 | |
Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 1,020,000 | 1,020,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (LIQ: UBS AG) | (d) | 4.00% | 01/02/24 | 33,045,000 | 33,045,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series A3 (LIQ: BANK OF NEW YORK MELLON/THE) | (d) | 4.07% | 01/02/24 | 52,375,000 | 52,375,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,300,000 | 1,300,000 | |
Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (LIQ: CITIBANK NA) | (a)(b)(c) | 3.89% | 01/05/24 | 3,280,000 | 3,280,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,905,000 | 2,905,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 7,675,000 | 7,675,000 | |
Future Tax Secured Sub Bonds Fiscal 2024 Series C (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (a)(b)(c) | 4.02% | 01/04/24 | 01/25/24 | 1,675,000 | 1,675,000 |
Future Tax Secured Sub Bonds Fiscal Series 2017E1 & 2017B1 & 2018B1 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 3,305,000 | 3,305,000 | |
Future Tax Secured Sub RB Fiscal 2014 Series B3 (LIQ: BARCLAYS BANK PLC) | (d) | 4.10% | 01/02/24 | 3,445,000 | 3,445,000 | |
New York State Dormitory Auth | ||||||
RB (Memorial Sloan-Kettering Cancer Center) Series 20221A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%) | (a)(b)(c) | 4.04% | 01/04/24 | 01/11/24 | 3,000,000 | 3,000,000 |
State Personal Income Tax RB Series 2020A (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 180,000 | 180,000 | |
State Personal Income Tax RB Series 2020A & 2022A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 1,730,000 | 1,730,000 | |
State Personal Income Tax RB Series 2020A 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 5,335,000 | 5,335,000 | |
State Personal Income Tax RB Series 2021A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,500,000 | 2,500,000 | |
State Personal Income Tax RB Series 2022A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 265,000 | 265,000 | |
State Sales Tax RB Series 2018E (LIQ: CITIBANK NA) | (a)(b)(c) | 3.88% | 01/05/24 | 4,475,000 | 4,475,000 | |
New York State HFA | ||||||
Housing RB (Historic Front St) Series 2003A (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (d) | 3.82% | 01/05/24 | 750,000 | 750,000 | |
New York State Power Auth | ||||||
CP Series 2 | 4.00% | 02/06/24 | 4,000,000 | 4,000,000 | ||
CP Series 2 | 3.67% | 03/07/24 | 6,750,000 | 6,750,000 | ||
RB Series 2020A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 4,935,000 | 4,935,000 | |
RB Series 2020A (LIQ: CITIBANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 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) | 3.90% | 01/05/24 | 2,595,000 | 2,595,000 | |
State Personal Income Tax RB Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,715,000 | 2,715,000 | |
State Personal Income Tax RB Series 2021A1, 2022A, 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 9,025,000 | 9,025,000 | |
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
State Personal Income Tax RB Series 2022C (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
New York State Urban Development Corp | ||||||
State Personal Income Tax RB Series 2022A (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 895,000 | 895,000 | |
North Hempstead | ||||||
GO BAN 2023B | 4.50% | 09/20/24 | 5,500,000 | 5,525,698 | ||
Northport-East Northport UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/28/24 | 4,500,000 | 4,529,195 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Nuveen New York AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: SOCIETE GENERALE SA) | (a)(d) | 3.92% | 01/05/24 | 26,300,000 | 26,300,000 | |
Variable Rate Demand Preferred Shares Series 3 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (a)(d) | 3.92% | 01/05/24 | 6,000,000 | 6,000,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: TORONTO-DOMINION BANK/THE) | (a)(d) | 3.91% | 01/05/24 | 7,100,000 | 7,100,000 | |
Oceanside UFSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 2,000,000 | 2,010,111 | ||
Ramapo Housing Auth | ||||||
RB (Fountainview at College Road) Series 1998 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 4.03% | 01/05/24 | 3,085,000 | 3,085,000 | |
Riverhead CSD | ||||||
TAN Series 2023-2024B | 5.00% | 06/25/24 | 5,000,000 | 5,031,674 | ||
Rondout Valley CSD | ||||||
GO BAN Series 2023A | 4.50% | 06/27/24 | 7,000,000 | 7,035,003 | ||
Rye SD | ||||||
GO BAN 2023 | 5.00% | 06/28/24 | 1,700,000 | 1,711,980 | ||
Sachem Central SD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 8,000,000 | 8,042,628 | ||
South Country CSD | ||||||
TAN 2023-2024 | 5.00% | 05/30/24 | 6,000,000 | 6,032,308 | ||
South Huntington UFSD | ||||||
TAN 2023-2024 | 5.00% | 06/24/24 | 3,500,000 | 3,521,894 | ||
Sweet Home CSD | ||||||
BAN Series 2023 | 4.75% | 06/27/24 | 5,000,000 | 5,026,356 | ||
Syosset CSD | ||||||
TAN 2023 | 5.00% | 06/25/24 | 7,000,000 | 7,048,102 | ||
Triborough Bridge & Tunnel Auth | ||||||
General RB Series 2001C (LOC: BARCLAYS BANK PLC) | (d) | 4.10% | 01/02/24 | 600,000 | 600,000 | |
General Refunding RB Series 2005B4A (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 10,000,000 | 10,000,000 | |
Payroll Mobility Tax Sr Lien Bonds Series 2022C (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 7,360,000 | 7,360,000 | |
Payroll Mobility Tax Sr Lien Refunding Bonds Series 2021A1 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 10,195,000 | 10,195,000 | |
Payroll Mobility Tax Sr. Lien Bonds Series 2022D2 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,050,000 | 1,050,000 | |
Sales Tax RB Series 2023A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.14%) | (a)(b)(c) | 4.01% | 01/04/24 | 01/05/24 | 14,295,000 | 14,295,000 |
Sales Tax RB Series 2023A & 2022A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 10,690,000 | 10,690,000 | |
Ulster Cnty | ||||||
BAN 2023 | 5.25% | 11/15/24 | 6,308,822 | 6,373,613 | ||
Warren & Washington Cnty IDA | ||||||
Civic Facility RB (Glen at Hiland Meadows) Series 2000 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 4.68% | 01/05/24 | 2,465,000 | 2,465,000 | |
West Babylon UFSD | ||||||
TAN 2023-2024 | 4.75% | 06/21/24 | 3,000,000 | 3,016,598 | ||
West Genesee CSD | ||||||
BAN Series 2023A | 4.50% | 06/27/24 | 7,000,000 | 7,028,402 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
West Islip UFSD | ||||||
TAN 2023-2024 | 5.25% | 06/21/24 | 7,000,000 | 7,039,040 | ||
655,489,723 | ||||||
NORTH CAROLINA 1.3% | ||||||
Charlotte-Mecklenburg Hospital Auth | ||||||
Health Care Refunding RB (Atrium Health) Series 2021E (LOC: ROYAL BANK OF CANADA) | (d) | 4.00% | 01/02/24 | 40,715,000 | 40,715,000 | |
OHIO 3.6% | ||||||
Akron, Bath & Copley Jt Township Hospital District | ||||||
Hospital RB (Summa Health) Series 2017B (LOC: BMO BANK NA) | (d) | 3.86% | 01/05/24 | 15,000,000 | 15,000,000 | |
RB (Concordia Lutheran Obligated Group) Series 2013A (LOC: TRUIST BANK) | (d) | 3.91% | 01/05/24 | 5,000,000 | 5,000,000 | |
RB (Concordia Lutheran Obligated Group) Series 2018B (LOC: TRUIST BANK) | (d) | 3.91% | 01/05/24 | 7,715,000 | 7,715,000 | |
Allen Cnty | ||||||
Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/04/24 | 01/05/24 | 2,540,000 | 2,540,000 |
Franklin Cnty | ||||||
Hospital Facilities RB (OhioHealth) Series 2015 (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 7,730,000 | 7,730,000 | |
Hospital Facilities Refunding RB (OhioHealth) Series 2009A (LIQ: BARCLAYS BANK PLC) | (d) | 3.80% | 01/05/24 | 11,625,000 | 11,625,000 | |
RB (Trinity Health) Series 2013OH | 4.30% | 02/01/24 | 8,500,000 | 8,500,000 | ||
Hamilton Cnty | ||||||
Hospital Facilities RB (TriHealth) Series 2017A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
Montgomery Cnty | ||||||
Hospital Facilities Refunding RB (Kettering Health) Series 1996 (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 3.99% | 01/02/24 | 1,105,000 | 1,105,000 | |
Hospital Facilities Refunding RB (Kettering Health) Series 2012 (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 3.99% | 01/02/24 | 9,900,000 | 9,900,000 | |
Ohio | ||||||
Hospital RB (Cleveland Clinic) Series 2023 (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 3.99% | 01/02/24 | 21,750,000 | 21,750,000 | |
Hospital RB (University Hospitals Health System) Series 2012A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.91% | 01/05/24 | 600,000 | 600,000 | |
Hospital RB (University Hospitals Health System) Series 2018A (LOC: PNC BANK NA) | (d) | 4.10% | 01/02/24 | 700,000 | 700,000 | |
Hospital RB (University Hospitals Health System) Series 2023C (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.91% | 01/05/24 | 4,000,000 | 4,000,000 | |
Ohio Higher Educational Facility Commission | ||||||
Hospital RB (Cleveland Clinic Health System) Series 2008B6 | 3.63% | 03/01/24 | 5,000,000 | 5,000,000 | ||
Hospital RB (Cleveland Clinic Health System) Series 2013B2 (LIQ: TD BANK NA) | (d) | 4.00% | 01/02/24 | 3,030,000 | 3,030,000 | |
Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A | 5.00% | 01/01/24 | 1,495,000 | 1,495,000 | ||
Ohio Water Development Auth | ||||||
Fresh Water Revenue CP (LIQ: TD BANK NA) | 3.78% | 03/01/24 | 2,000,000 | 2,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Port of Greater Cincinnati Development Auth | ||||||
Special Obligation Development RB (Springdale) Series 2006 (LOC: US BANK NATIONAL ASSOCIATION) | 3.75% | 02/01/24 | 4,345,000 | 4,345,000 | ||
114,035,000 | ||||||
OREGON 0.5% | ||||||
Beaverton SD #48J | ||||||
GO Bonds Series 2022B (GTY: OREGON (STATE OF)) (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,665,000 | 2,665,000 | |
Clackamas Cnty SD #62 | ||||||
GO Refunding Bonds Series 2018B (GTY: OREGON (STATE OF)) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 3,910,000 | 3,910,000 | |
Oregon | ||||||
Highway Tax 2nd Sub Lien CP Series A2 (LOC: BANK OF MONTREAL) | 3.70% | 01/03/24 | 5,000,000 | 5,000,000 | ||
Oregon Health, Housing, Educational & Cultural Facilities Auth | ||||||
RB (Assumption Village) Series 2001A (LOC: US BANK NATIONAL ASSOCIATION) | (d) | 4.00% | 01/05/24 | 3,710,000 | 3,710,000 | |
15,285,000 | ||||||
PENNSYLVANIA 2.8% | ||||||
Adams Cnty IDA | ||||||
RB (Gettysburg Fdn) Series 2006A (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 4.03% | 01/05/24 | 4,790,000 | 4,790,000 | |
Allegheny Cnty Hospital Development Auth | ||||||
RB (Concordia Lutheran Obligated Group) Series 2016A (LOC: TRUIST BANK) | (d) | 3.91% | 01/05/24 | 4,125,000 | 4,125,000 | |
Beaver Cnty IDA | ||||||
RB Series (Concordia Lutheran) 2018A (LOC: TRUIST BANK) | (d) | 3.91% | 01/05/24 | 7,115,000 | 7,115,000 | |
Butler Cnty Hospital Auth | ||||||
RB (Concordia Lutheran) Series 2012A (LOC: TRUIST BANK) | (d) | 3.91% | 01/05/24 | 10,850,000 | 10,850,000 | |
Butler Cnty Industrial Development Auth | ||||||
RB (Concordia Lutheran Ministries) Series 2004A (LOC: TRUIST BANK) | (d) | 3.91% | 01/05/24 | 3,225,000 | 3,225,000 | |
Chester Cnty Health & Ed | ||||||
RB (Tel Hai Retirement Community) Series 2020 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 3.97% | 01/05/24 | 2,940,000 | 2,940,000 | |
Lancaster Industrial Development Auth | ||||||
RB (The Mennonite Home) Series 2007 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 4.03% | 01/05/24 | 9,000,000 | 9,000,000 | |
Lehigh Cnty General Purpose Auth | ||||||
Hospital RB (Lehigh Valley Health Network) Series 2019A (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 5,705,000 | 5,705,000 | |
Hospital RB (Lehigh Valley Health) Series 2012B (LOC: BANK OF AMERICA NA) | (a)(b)(c) | 3.99% | 01/02/24 | 22,935,000 | 22,935,000 | |
Lycoming Cnty Auth | ||||||
RB (Lycoming College) Series 2013S1 (LOC: MANUFACTURERS AND TRADERS TRUST CO) | (d) | 3.95% | 01/05/24 | 630,000 | 630,000 | |
Montgomery Cnty Redevelopment Auth | ||||||
M/F Housing RB (Forge Gate Apts) Series 2001A (LOC: FEDERAL NATIONAL MORTGAGE ASSOCIATION) | (d) | 3.91% | 01/05/24 | 4,385,000 | 4,385,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Pennsylvania HFA | ||||||
S/F Mortgage RB Series 2022-140A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 6,855,000 | 6,855,000 | |
S/F Mortgage RB Series 2023-142A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 1,000,000 | 1,000,000 | |
S/F Mortgage RB Series 2023-143A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 4,330,000 | 4,330,000 | |
87,885,000 | ||||||
SOUTH CAROLINA 0.6% | ||||||
Patriots Energy Group | ||||||
Gas Supply RB Series 2023A1 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 6,000,000 | 6,000,000 | |
Patriots Energy Group Financing Agency | ||||||
Gas Supply RB Series 2023B1 | (a)(b)(c) | 3.90% | 01/05/24 | 5,295,000 | 5,295,000 | |
Gas Supply RB Series 2023B1&B2 | (a)(b)(c) | 3.90% | 01/05/24 | 6,665,000 | 6,665,000 | |
South Carolina Housing Finance & Development Auth | ||||||
M/F Rental Housing RB (Franklin Square Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (d) | 3.92% | 01/05/24 | 870,000 | 870,000 | |
South Carolina Jobs Economic Development Auth | ||||||
1st Lien Economic Development RB (Port Royal Village Apts) Series 2021A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 3.90% | 01/05/24 | 855,000 | 855,000 | |
19,685,000 | ||||||
TENNESSEE 2.3% | ||||||
Blount Cnty Public Building Auth | ||||||
Public Improvement Bonds Series E6A (LOC: TRUIST BANK) | (d) | 3.90% | 01/05/24 | 485,000 | 485,000 | |
Chattanooga Health, Educational & Housing Facility Board | ||||||
RB (CommonSpirit Health) Series 2019A1&A2 (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 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) | 3.91% | 01/05/24 | 7,000,000 | 7,000,000 | |
Johnson City Health & Educational Facilities Board | ||||||
Hospital RB (Ballad Health) Series 2022C (LOC: TRUIST BANK) | (d) | 3.85% | 01/05/24 | 465,000 | 465,000 | |
Hospital Refunding RB (Ballad Health) Series 2022B (LOC: TRUIST BANK) | (d) | 3.88% | 01/05/24 | 40,735,000 | 40,735,000 | |
Metro Government of Nashville & Davidson Cnty | ||||||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 3.95% | 01/23/24 | 2,320,000 | 2,320,000 | ||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 3.66% | 02/12/24 | 4,800,000 | 4,800,000 | ||
GO CP Series 2021 (LIQ: BANK OF AMERICA NA) | 3.90% | 02/14/24 | 6,000,000 | 6,000,000 | ||
Metro Government of Nashville & Davidson Cnty Health & Educational Facilities Board | ||||||
Educational Facilities RB (Belmont Univ) Series 2023 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,100,000 | 3,100,000 | |
Sevier Cnty Public Building Auth | ||||||
Public Improvement Bonds (Bedford Cnty) Series VIIQ1 (LOC: TRUIST BANK) | (d) | 4.00% | 01/02/24 | 3,050,000 | 3,050,000 | |
Tennessee Energy Acquisition Corp | ||||||
Commodity Project RB Series 2021A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 2,500,000 | 2,500,000 | |
72,140,000 | ||||||
TEXAS 22.7% | ||||||
Aledo ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 700,000 | 700,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Anna ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,104 | ||
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) | 3.88% | 01/05/24 | 9,225,000 | 9,225,000 | |
Arlington ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 600,000 | 600,978 | ||
Bastrop ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 4,800,000 | 4,800,000 | |
ULT GO Refunding Bonds Series 2021A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 4.00% | 02/15/24 | 1,465,000 | 1,465,344 | ||
Bexar Cnty Hospital District | ||||||
Certificates of Obligation Series 2022 (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%) | (a)(b)(c) | 4.04% | 01/04/24 | 01/18/24 | 2,420,000 | 2,420,000 |
Brady ISD | ||||||
ULT GO Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 2.75% | 02/15/24 | 100,000 | 99,872 | ||
Bridge ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,605,000 | 2,605,000 | |
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 3.00% | 02/15/24 | 100,000 | 99,874 | ||
Brownsville | ||||||
Utilities System CP Series A (LOC: PNC BANK NA) | 3.60% | 06/18/24 | 5,000,000 | 5,000,000 | ||
Burleson ISD | ||||||
ULT GO Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 180,000 | 180,129 | ||
ULT GO Refunding Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 325,000 | 325,264 | ||
Carroll ISD | ||||||
ULT GO Refunding Bonds Series 2019A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 645,000 | 645,854 | ||
Carrollton ISD | ||||||
ULT GO Refunding Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 365,000 | 365,618 | ||
Center ISD | ||||||
ULT GO Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 200,000 | 200,326 | ||
Chapel Hill ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 3,600,000 | 3,600,000 | |
Clear Creek ISD | ||||||
ULT GO Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 115,000 | 115,123 | ||
Clyde Consolidated ISD | ||||||
ULT GO Refunding Bonds Series 2014 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 4.00% | 02/15/24 | 215,000 | 215,007 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Columbia & Brazoria ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 180,000 | 180,138 | ||
Comal ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 1,835,000 | 1,836,939 | ||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 5,750,000 | 5,757,049 | ||
Conroe ISD | ||||||
ULT GO Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 300,000 | 300,527 | ||
Crowley ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
Cypress-Fairbanks ISD | ||||||
ULT GO Bonds Series 2022A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,915,000 | 2,915,000 | |
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 300,000 | 300,340 | ||
ULT GO Refunding Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,163 | ||
Dallas ISD | ||||||
CP Series IA (LIQ: BANK OF AMERICA NA) | 3.70% | 02/15/24 | 2,333,000 | 2,333,000 | ||
ULT GO Bonds Series 2016A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,145 | ||
ULT GO Refunding Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 175,000 | 175,198 | ||
Denton ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,240,000 | 3,240,000 | |
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.89% | 01/05/24 | 8,000,000 | 8,000,000 | |
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 400,000 | 400,000 | |
Dickinson ISD | ||||||
ULT GO Refunding Bonds Series 2013 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 135,000 | 135,038 | ||
Everman ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 4.00% | 02/15/24 | 175,000 | 175,022 | ||
Forney ISD | ||||||
ULT GO Series 2022B (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,775,000 | 2,775,000 | |
Fort Bend ISD | ||||||
ULT GO Refunding Bonds Series 2017E (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 115,000 | 115,120 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Fort Worth ISD | ||||||
ULT GO Bonds Series 2021A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 265,000 | 265,383 | ||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 265,000 | 265,431 | ||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 255,000 | 255,372 | ||
Frisco ISD | ||||||
ULT GO Refunding Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 275,000 | 275,448 | ||
Garland ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,108 | ||
ULT GO Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 225,000 | 225,254 | ||
Goose Creek ISD | ||||||
ULT GO Bonds Series 2020 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 625,000 | 626,018 | ||
Grand Prairie ISD | ||||||
ULT Refunding Bonds Series 2014 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 4.00% | 02/15/24 | 100,000 | 100,009 | ||
Gulf Coast IDA | ||||||
RB (ExxonMobil) Series 2012 | (d) | 4.00% | 01/02/24 | 5,700,000 | 5,700,000 | |
Harris Cnty | ||||||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.80% | 02/06/24 | 5,640,000 | 5,640,000 | ||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.77% | 03/04/24 | 7,800,000 | 7,800,000 | ||
GO CP Series C (LOC: SUMITOMO MITSUI BANKING CORPORATION) | 3.60% | 05/01/24 | 2,050,000 | 2,050,000 | ||
Toll Road System 1st Lien CP Series K2 (LOC: BARCLAYS BANK PLC) | 3.65% | 02/08/24 | 1,310,000 | 1,310,000 | ||
Toll Road System 1st Lien CP Series K2 (LOC: BARCLAYS BANK PLC) | 3.70% | 02/08/24 | 510,000 | 510,000 | ||
Toll Road System 1st Lien CP Series K2 (LOC: BARCLAYS BANK PLC) | 3.70% | 02/22/24 | 500,000 | 500,000 | ||
Harris Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital RB (Memorial Hermann Health) Series 2014C | (d) | 4.20% | 01/05/24 | 12,400,000 | 12,400,000 | |
Hospital RB (Memorial Hermann Health) Series 2022A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 4.02% | 01/05/24 | 4,000,000 | 4,000,000 | |
Hospital RB (Texas Children’s Hospital) Series 2021D (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 8,245,000 | 8,245,000 | |
Refunding RB (Methodist Hospital) Series 2009C1 | 3.99% | 01/11/24 | 50,000,000 | 50,000,000 | ||
Refunding RB (Methodist Hospital) Series 2009C2 | 3.99% | 01/11/24 | 38,000,000 | 38,000,000 | ||
Harris Cnty Flood Control District | ||||||
LT CP Notes Series H2 (LOC: PNC BANK NA) | 3.75% | 02/07/24 | 819,712 | 819,712 | ||
Harris Cnty Toll Road Auth | ||||||
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 3.75% | 02/07/24 | 13,330,000 | 13,330,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 3.93% | 02/07/24 | 6,520,000 | 6,520,000 | ||
1st Lien Revenue CP Series K (LOC: PNC BANK NA) | 3.70% | 02/14/24 | 18,030,000 | 18,030,000 | ||
Houston | ||||||
Water & Sewer System Jr Lien Refunding RB Series 2001B (ESCROW) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 12,500,000 | 12,500,000 | |
Houston Combined Utility System | ||||||
1st Lien Refunding RB Series 2004B4 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 3.87% | 01/05/24 | 33,100,000 | 33,100,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Humble ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,050,000 | 2,050,000 | |
Irving ISD | ||||||
ULT GO Refunding Bonds Series 2016A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 195,000 | 195,210 | ||
Judson ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 250,000 | 250,191 | ||
Katy ISD | ||||||
ULT GO Refunding Bonds Series 2014A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 125,000 | 125,131 | ||
Lamar Consolidated ISD | ||||||
ULT Bonds Series 2023A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 5,250,000 | 5,250,000 | |
ULT GO Bonds Series 2023A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 3,000,000 | 3,000,000 | |
ULT GO Bonds Series 2023A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 3,105,000 | 3,105,000 | |
Lancaster ISD | ||||||
ULT GO Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 2.50% | 02/15/24 | 100,000 | 99,843 | ||
Liberty Hill ISD | ||||||
ULT GO Refunding Bonds Series 2022A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 825,000 | 825,646 | ||
LoveJoy ISD | ||||||
ULT GO Bonds Series 2019 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 2.75% | 02/15/24 | 100,000 | 99,872 | ||
Lower Colorado River Auth | ||||||
Refunding RB (LCRA Transmission Services) Series 2023 (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 6,265,000 | 6,265,000 | |
Transmission Contract Revenue CP (LOC: STATE STREET BANK AND TRUST COMPANY; JPMORGAN CHASE BANK NA) | 3.70% | 04/16/24 | 7,723,000 | 7,723,000 | ||
Lower Neches Valley Auth | ||||||
RB (ExxonMobil) Series 2012 | (d) | 4.00% | 01/02/24 | 550,000 | 550,000 | |
Lower Neches Valley Auth Industrial Development Corp | ||||||
Exempt Facilities Refunding RB (ExxonMobil) Series 2001A | (d) | 3.95% | 01/02/24 | 865,000 | 865,000 | |
RB (ExxonMobil) Series 2010 | (d) | 4.00% | 01/02/24 | 650,000 | 650,000 | |
McKinney ISD | ||||||
ULT GO Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 1,075,000 | 1,077,020 | ||
ULT GO Refunding Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 200,000 | 200,208 | ||
North Lamar ISD | ||||||
ULT GO Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 105,000 | 105,154 | ||
North Texas Municipal Water District | ||||||
Water System RB Extendable CP | 4.25% | 02/07/24 | 08/30/24 | 18,000,000 | 18,000,000 | |
Northwest ISD | ||||||
ULT GO Refunding Bonds Series 2015B (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 600,000 | 600,680 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Palestine ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 135,000 | 135,144 | ||
Panhandle Regional Housing Financial Corp | ||||||
M/F Housing RB (Jason Ave Apts) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (d) | 3.93% | 01/05/24 | 12,685,000 | 12,685,000 | |
Pflugerville ISD | ||||||
ULT GO Bonds Series 2019A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 2.25% | 02/15/24 | 100,000 | 99,814 | ||
Pharr-San Juan-Alamo ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 375,000 | 375,286 | ||
Plemons-Stinnett-Phillips Consolidated ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 425,000 | 425,656 | ||
Port of Port Arthur Navigation District | ||||||
Exempt Facilities RB (Total USA) Series 2011 | (d) | 3.95% | 01/05/24 | 28,315,000 | 28,315,000 | |
Exempt Facilities RB (Total USA) Series 2012 | (d) | 4.20% | 01/05/24 | 16,000,000 | 16,000,000 | |
Exempt Facilities RB (Total USA) Series 2012A | (d) | 3.95% | 01/05/24 | 10,000,000 | 10,000,000 | |
Exempt Facilities RB (Total USA) Series 2012B | (d) | 3.95% | 01/05/24 | 4,000,000 | 4,000,000 | |
Princeton ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: MORGAN STANLEY BANK NA) | (a)(b)(c) | 3.89% | 01/05/24 | 6,250,000 | 6,250,000 | |
Red Oak ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,380,000 | 3,380,000 | |
Richardson ISD | ||||||
ULT GO Bonds Series 2021 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 265,000 | 265,383 | ||
Rockwall ISD | ||||||
ULT GO Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,146 | ||
San Angelo ISD | ||||||
ULT GO Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 465,000 | 465,539 | ||
San Antonio | ||||||
Electric & Gas Systems Refunding RB Series 2012 | 5.25% | 02/01/24 | 500,000 | 500,479 | ||
Electric & Gas Systems Refunding RB Series 2022 | 5.00% | 02/01/24 | 930,000 | 930,706 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 3.90% | 01/03/24 | 15,000,000 | 15,000,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 3.85% | 02/07/24 | 5,000,000 | 5,000,000 | ||
Water System CP Series A1 (LIQ: JPMORGAN CHASE BANK NA) | 3.80% | 03/04/24 | 7,825,000 | 7,825,000 | ||
Water System Jr Lien Refunding RB Series 2023A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 3,095,000 | 3,095,000 | |
San Antonio Electric & Gas | ||||||
Electric & Gas System Refunding RB Series 2023A (LIQ: BARCLAYS BANK PLC) | (a)(b)(c) | 3.90% | 01/05/24 | 8,000,000 | 8,000,000 | |
Electric & Gas Systems Refunding RB Series 2023A (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,325,000 | 3,325,000 | |
San Antonio Housing Finance Corp | ||||||
M/F Housing Mortgage RB (Artisan) Series 2008 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (d) | 3.93% | 01/05/24 | 1,800,000 | 1,800,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
San Antonio ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: DEUTSCHE BANK AG) | (a)(b)(c) | 3.92% | 01/05/24 | 9,225,000 | 9,225,000 | |
San Augustine ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,107 | ||
San Benito Consolidated ISD | ||||||
ULT GO Refunding Bonds Series 2016 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,107 | ||
Sealy ISD | ||||||
ULT GO Refunding Bonds Series 2017 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 4.00% | 02/15/24 | 170,000 | 169,983 | ||
Southwest ISD | ||||||
ULT GO Refunding Bonds Series 2014 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 305,000 | 305,261 | ||
Spring Branch ISD | ||||||
LT Refunding Bonds Series 2015A (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 250,000 | 250,191 | ||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/01/24 | 350,000 | 350,416 | ||
Tarrant Cnty Cultural Education Facilities Finance Corp | ||||||
Hospital RB (Baylor Scott & White Health) Series 2022D (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,260,000 | 2,260,000 | |
Hospital RB (Baylor Scott & White Health) Series 2022D (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,745,000 | 2,745,000 | |
Hospital Refunding RB (Baylor Scott & White Health) Series 2019B (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/04/24 | 01/05/24 | 6,000,000 | 6,000,000 |
RB (CHRISTUS Health) Series 2018B (LOC: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 4.35% | 01/02/24 | 3,425,000 | 3,425,000 | |
RB (Christus Health) Series 2022A, 2018B (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,500,000 | 1,500,000 | |
RB (Methodist Hospitals) Series 2008A (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 2,745,000 | 2,745,000 | |
Refunding RB (CHRISTUS Health) Series 2008C1 (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 4.20% | 01/05/24 | 7,000,000 | 7,000,000 | |
Texas | ||||||
GO Bonds Series 2010C (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 3.85% | 01/05/24 | 3,380,000 | 3,380,000 | |
GO Bonds Series 2013A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 3.85% | 01/05/24 | 4,675,000 | 4,675,000 | |
GO Bonds Series 2016A | 5.00% | 04/01/24 | 245,000 | 245,583 | ||
Veterans Bonds Series 2012B (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 3.85% | 01/05/24 | 10,130,000 | 10,130,000 | |
Veterans Bonds Series 2014A (LIQ: STATE STREET BANK AND TRUST COMPANY) | (d) | 3.85% | 01/05/24 | 6,570,000 | 6,570,000 | |
Veterans Bonds Series 2016 (LIQ: TD BANK NA) | (d) | 4.00% | 01/05/24 | 14,235,000 | 14,235,000 | |
Veterans Bonds Series 2019 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 4.30% | 01/05/24 | 1,740,000 | 1,740,000 | |
Veterans Bonds Series 2021 (LIQ: FEDERAL HOME LOAN BANKS) | (d) | 3.80% | 01/05/24 | 6,420,000 | 6,420,000 | |
Veterans Bonds Series 2022 (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 3.80% | 01/05/24 | 7,810,000 | 7,810,000 | |
Texas A&M Univ | ||||||
CP Series B | 3.75% | 02/02/24 | 2,000,000 | 2,000,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Texas Municipal Gas Acquisition & Supply Corp IV | ||||||
Gas Supply RB Series 2023A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.92% | 01/05/24 | 4,360,000 | 4,360,000 | |
Texas Public Finance Auth | ||||||
CP Series 2019 | 3.96% | 01/18/24 | 8,000,000 | 8,000,000 | ||
Texas Transportation Commission | ||||||
State Highway Fund 1st Tier RB Series 2014B (LIQ: SUMITOMO MITSUI BANKING CORPORATION) | (d) | 3.89% | 01/05/24 | 13,000,000 | 13,000,000 | |
Texas Water Dev Brd | ||||||
State Water Implementation Fund RB Series 2022 (LIQ: CITIBANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 3,625,000 | 3,625,000 | |
State Water Implementation Fund RB Series 2022 (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,565,000 | 2,565,000 | |
State Water Implementation Fund RB Series 2022 (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 5,000,000 | 5,000,000 | |
Texas Water Development Board | ||||||
State Water Implementation Fund RB Series 2021 (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,000,000 | 2,000,000 | |
State Water Implementation Fund RB Series 2023A (LIQ: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%) | (a)(b)(c) | 4.02% | 01/04/24 | 01/05/24 | 2,560,000 | 2,560,000 |
State Water Implementation Fund RB Series 2023A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 2,600,000 | 2,600,000 | |
Tomball ISD | ||||||
ULT GO Bonds Series 2018 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 240,000 | 240,250 | ||
Univ of Texas | ||||||
CP Notes Series A | 3.60% | 01/04/24 | 3,000,000 | 2,999,965 | ||
CP Notes Series A | 3.18% | 01/17/24 | 6,500,000 | 6,497,741 | ||
CP Notes Series A | 3.50% | 01/18/24 | 12,500,000 | 12,498,056 | ||
CP Notes Series A | 3.85% | 01/24/24 | 5,000,000 | 5,000,000 | ||
CP Notes Series A | 3.45% | 03/07/24 | 3,500,000 | 3,498,767 | ||
Financing System RB Series 2008B | (d) | 3.71% | 01/05/24 | 1,300,000 | 1,300,000 | |
Revenue Financing CP Series A | 3.70% | 01/03/24 | 4,000,000 | 3,999,977 | ||
Revenue Financing CP Series A | 3.75% | 01/04/24 | 14,200,000 | 14,199,877 | ||
Revenue Financing CP Series A | 3.75% | 01/05/24 | 10,000,000 | 10,000,000 | ||
Revenue Financing CP Series A | 3.90% | 02/13/24 | 12,500,000 | 12,500,000 | ||
Revenue Financing CP Series A | 3.62% | 02/21/24 | 10,000,000 | 10,000,000 | ||
Revenue Financing CP Series A | 3.67% | 04/02/24 | 5,000,000 | 5,000,000 | ||
Revenue Financing System Bonds Series 2019B (LIQ: DEUTSCHE BANK AG) | (a)(b)(c) | 3.55% | 01/02/24 | 10,000,000 | 10,000,000 | |
Waxahachie ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 3,125,000 | 3,125,000 | |
Wink Loving ISD | ||||||
ULT GO Bonds Series 2023 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) | 5.00% | 02/15/24 | 100,000 | 100,113 | ||
Ysleta ISD | ||||||
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: BANK OF AMERICA NA) | (a)(b)(c) | 3.90% | 01/05/24 | 4,000,000 | 4,000,000 | |
ULT GO Bonds Series 2022 (GTY: TEXAS PERMANENT SCHOOL FUND PROG) (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 4,335,000 | 4,335,000 | |
713,566,409 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
UTAH 0.1% | ||||||
Murray | ||||||
Hospital RB (IHC Health Services) Series 2003C | (d) | 4.00% | 01/02/24 | 960,000 | 960,000 | |
Utah Water Finance Agency | ||||||
RB Series 2008B-1 (LIQ: JPMORGAN CHASE BANK NA) | (d) | 3.85% | 01/05/24 | 890,000 | 890,000 | |
1,850,000 | ||||||
VIRGINIA 1.6% | ||||||
Albemarle Cnty Economic Development Auth | ||||||
Hospital Facilities Refunding RB (Sentara Health) Series 2018A (LIQ: TD BANK NA) | (d) | 3.85% | 01/05/24 | 16,655,000 | 16,655,000 | |
Hospital Facilities Refunding RB (Sentara Martha Jefferson) Series 2018B (LIQ: TD BANK NA) | (d) | 4.00% | 01/02/24 | 4,495,000 | 4,495,000 | |
Fairfax Cnty IDA | ||||||
Health Care RB (Inova Health) Series 2016C | (d) | 3.95% | 01/05/24 | 600,000 | 600,000 | |
Health Care RB (Inova Health) Series 2018C | (d) | 3.95% | 01/05/24 | 500,000 | 500,000 | |
Hampton Roads Transportation Accountability Commission | ||||||
Sr Lien RB Series 2020A (LIQ: JPMORGAN CHASE BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 5,500,000 | 5,500,000 | |
Lynchburg Economic Development Auth | ||||||
Hospital Refunding RB (Centra Health) Series 2017B (LOC: TRUIST BANK) | (d) | 4.10% | 01/02/24 | 3,400,000 | 3,400,000 | |
Norfolk Economic Development Auth | ||||||
Health Care Facilities Refunding RB (Sentara Healthcare) Series 2012B (LIQ: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.91% | 01/05/24 | 4,000,000 | 4,000,000 | |
Hospital Facilities RB (Sentara Health) Series 2016A | (d) | 3.83% | 01/05/24 | 9,400,000 | 9,400,000 | |
Williamsburg Economic Development Auth | ||||||
Housing RB (Provident Group Williamsburg Properties) Series 2023A (LOC: ROYAL BANK OF CANADA) | (a)(b)(c) | 3.90% | 01/05/24 | 5,800,000 | 5,800,000 | |
50,350,000 | ||||||
WASHINGTON 1.5% | ||||||
Central Puget Sound Regional Transit Auth | ||||||
Sales & Motor Vehicle Tax RB Series 2016S1 (LOC: ROYAL BANK OF CANADA) (SIFMA Municipal Swap Index + 0.20%) | (a)(b)(c) | 4.07% | 01/04/24 | 05/01/24 | 5,860,000 | 5,860,000 |
King Cnty Sewer System | ||||||
LT GO CP Series A | 3.55% | 01/18/24 | 16,600,000 | 16,600,000 | ||
Pierce Cnty Economic Development Corp | ||||||
IDRB (Frederico Enterprises I) Series 2010 (LOC: ROYAL BANK OF CANADA) | (d) | 3.92% | 01/05/24 | 1,820,000 | 1,820,000 | |
Washington | ||||||
COP Series 2015C | 5.00% | 01/01/24 | 350,000 | 350,000 | ||
COP Series 2023A | 5.00% | 01/01/24 | 125,000 | 125,000 | ||
GO Bonds Series 2020C | 5.00% | 02/01/24 | 275,000 | 275,303 | ||
GO Bonds Series 2022C (LIQ: CITIBANK NA) | (a)(b)(c) | 3.92% | 01/05/24 | 5,300,000 | 5,300,000 | |
GO Bonds Series 2024A (LIQ: WELLS FARGO BANK NA) | (a)(b)(c) | 3.90% | 01/05/24 | 1,665,000 | 1,665,000 | |
GO Refunding Bonds Series R-2020A | 5.00% | 01/01/24 | 450,000 | 450,000 | ||
Motor Vehicle Fuel Tax GO Refunding Bonds Series R2022D | 5.00% | 07/01/24 | 300,000 | 301,436 | ||
Washington Health Care Facilities Auth | ||||||
Health Care Facilities RB (Fred Hutchinson Cancer Ctr) Series 2020 (LOC: TORONTO-DOMINION BANK/THE) | (a)(b)(c) | 3.91% | 01/05/24 | 5,510,000 | 5,510,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Washington State Housing Finance Commission | ||||||
M/F Housing RB (Redmond Ridge Apts) Series 2017 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 3.82% | 01/05/24 | 7,440,000 | 7,440,000 | |
M/F Housing RB (Urban Center Apts) Series 2012 (LOC: FEDERAL HOME LOAN MORTGAGE CORPORATION) | (d) | 3.80% | 01/05/24 | 495,000 | 495,000 | |
46,191,739 | ||||||
WISCONSIN 2.2% | ||||||
Wisconsin Health & Educational Facilities Auth | ||||||
RB (Univ of Wisconsin Medical Fdn) Series 2000 (LOC: JPMORGAN CHASE BANK NA) | (d) | 3.76% | 01/05/24 | 1,200,000 | 1,200,000 | |
Wisconsin Public Finance Auth | ||||||
Health System Refunding RB (Cone Health) Series 2023C (LOC: TD BANK NA) | (d) | 4.00% | 01/02/24 | 30,000,000 | 30,000,000 | |
Health System Refunding RB (Cone Health) Series 2023D (LOC: TRUIST BANK) | (d) | 3.90% | 01/05/24 | 15,270,000 | 15,270,000 | |
Health System Refunding RB (Cone Health) Series 2023E (LOC: TRUIST BANK) | (d) | 3.82% | 01/05/24 | 22,790,000 | 22,790,000 | |
69,260,000 | ||||||
WYOMING 0.8% | ||||||
Lincoln Cnty | ||||||
Pollution Control Refunding RB (ExxonMobil) Series 2014 | (d) | 3.95% | 01/02/24 | 25,900,000 | 25,900,000 | |
MULTIPLE STATES 6.4% | ||||||
Nuveen AMT-Free Municipal Credit Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 1 (LOC: JPMORGAN CHASE BANK NA) | (a)(d) | 3.93% | 01/05/24 | 2,400,000 | 2,400,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: SOCIETE GENERALE SA) | (a)(d) | 3.93% | 01/05/24 | 7,000,000 | 7,000,000 | |
Variable Rate Demand Preferred Shares Series 5 (LOC: SOCIETE GENERALE SA) | (a)(d) | 3.92% | 01/05/24 | 51,800,000 | 51,800,000 |
ISSUER TYPE OF SECURITY, SERIES | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
Nuveen AMT-Free Quality Municipal Income Fund | ||||||
Variable Rate Demand Preferred Shares Series 3 (LOC: TORONTO-DOMINION BANK/THE) | (a)(d) | 3.92% | 01/05/24 | 13,500,000 | 13,500,000 | |
Variable Rate Demand Preferred Shares Series 4 (LOC: BARCLAYS BANK PLC) | (a)(d) | 3.92% | 01/05/24 | 71,000,000 | 71,000,000 | |
Variable Rate Demand Preferred Shares Series C (LOC: SOCIETE GENERALE SA) | (a)(d) | 3.93% | 01/05/24 | 55,500,000 | 55,500,000 | |
201,200,000 | ||||||
Total Municipal Securities (Cost $3,115,805,005) | 3,115,805,005 | |||||
Total Investments in Securities (Cost $3,115,805,005) | 3,115,805,005 |
(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 $1,075,920,000 or 34.3% 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. |
BAN — | Bond anticipation note |
COP — | Certificate of participation |
CP — | Commercial paper |
CSD — | Central school district |
GO — | General obligation |
GTY — | Guaranty agreement |
HFA — | Housing finance agency/authority |
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 |
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 |
UFSD — | Union free school district |
ULT — | Unlimited tax |
USD — | Unified school district |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at cost and value - unaffiliated (Note 2a) | $3,115,805,005 | |
Cash | 45,240 | |
Receivables: | ||
Interest | 18,625,414 | |
Fund shares sold | 12,492,752 | |
Investments sold | 8,626,059 | |
Prepaid expenses | + | 157,543 |
Total assets | 3,155,752,013 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 8,829,065 | |
Distributions to shareholders | 3,925,258 | |
Investments bought | 1,926,723 | |
Investment adviser and administrator fees | 333,838 | |
Shareholder service fees | 21,777 | |
Independent trustees’ fees | 131 | |
Accrued expenses | + | 285,623 |
Total liabilities | 15,322,415 | |
Net assets | $3,140,429,598 | |
Net Assets by Source | ||
Capital received from investors | $3,140,429,598 | |
Net assets | $3,140,429,598 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $1,075,040,986 | 1,074,847,237 | $1.00 | ||
Ultra Shares | $2,065,388,612 | 2,065,007,872 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $77,833,891 | |
Expenses | ||
Investment adviser and administrator fees | 4,413,248 | |
Shareholder service fees: | ||
Investor Shares | 1,444,197 | |
Registration fees | 632,687 | |
Portfolio accounting fees | 110,846 | |
Custodian fees | 49,022 | |
Independent trustees’ fees | 40,966 | |
Professional fees | 34,299 | |
Shareholder reports | 14,552 | |
Transfer agent fees | 1,325 | |
Other expenses | + | 22,722 |
Total expenses | 6,763,864 | |
Expense reduction | – | 899,231 |
Net expenses | – | 5,864,633 |
Net investment income | 71,969,258 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 74,351 | |
Increase in net assets resulting from operations | $72,043,609 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $71,969,258 | $14,431,708 | |
Net realized gains (losses) | + | 74,351 | (31,178 ) |
Increase in net assets from operations | $72,043,609 | $14,400,530 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Investor Shares | ($28,727,531 ) | ($7,029,655 ) | |
Ultra Shares | + | (43,284,907 ) | (7,402,053 ) |
Total distributions | ($72,012,438 ) | ($14,431,708 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares Sold | |||
Investor Shares | 1,475,733,130 | 941,869,537 | |
Ultra Shares | + | 4,377,378,012 | 1,929,161,765 |
Total shares sold | 5,853,111,142 | 2,871,031,302 | |
Shares Reinvested | |||
Investor Shares | 20,329,843 | 5,055,816 | |
Ultra Shares | + | 30,855,164 | 5,277,727 |
Total shares reinvested | 51,185,007 | 10,333,543 | |
Shares Redeemed | |||
Investor Shares | (1,296,350,073 ) | (714,918,844 ) | |
Ultra Shares | + | (3,309,897,947 ) | (1,128,703,265 ) |
Total shares redeemed | (4,606,248,020 ) | (1,843,622,109 ) | |
Net transactions in fund shares | 1,298,048,129 | 1,037,742,736 | |
NET ASSETS | |||
Beginning of period | $1,842,350,298 | $804,638,740 | |
Total increase | + | 1,298,079,300 | 1,037,711,558 |
End of period | $3,140,429,598 | $1,842,350,298 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS | |
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 |
2. Significant Accounting Policies:
SCHWAB MUNICIPAL MONEY FUND | SCHWAB AMT TAX-FREE MONEY FUND | |
% of total assets in securities with credit enhancements or liquidity enhancements | 71 % | 75 % |
% of total assets in securities with credit enhancements or liquidity enhancements 10% or greater from a single institution | 12 % | 11 % |
(JPMorgan Chase Bank NA) | (JPMorgan Chase Bank NA) |
4. Risk Factors:
Government Securities Risk. U.S. government securities include securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or other Government-Sponsored Enterprises (GSEs)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.
5. Affiliates and Affiliated Transactions:
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 % |
PURCHASE COST | SALE PROCEEDS | REALIZED GAINS (LOSSES) | |
Schwab Municipal Money Fund | $329,388,618 | $196,697,246 | $0 |
Schwab AMT Tax-Free Money Fund | 136,557,160 | 58,655,806 | 0 |
6. Board of Trustees:
7. Borrowing from Banks:
8. Federal Income Taxes:
TAX COST | |
Schwab Municipal Money Fund | $16,359,253,972 |
Schwab AMT Tax-Free Money Fund | 3,115,805,005 |
UNDISTRIBUTED TAX-EXEMPT INCOME | TOTAL | |
Schwab Municipal Money Fund | $171 | $171 |
Schwab AMT Tax-Free Money Fund | — | — |
Schwab Municipal Money Fund | $— |
Schwab AMT Tax-Free Money Fund | 31,178 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |||||
TAX-EXEMPT INCOME | ORDINARY INCOME | LONG-TERM CAPITAL GAINS | TAX-EXEMPT INCOME | ORDINARY INCOME | LONG-TERM CAPITAL GAINS | |
Schwab Municipal Money Fund | $460,040,909 | $13,912,255 | $— | $128,465,056 | $2,916,837 | $145,000 |
Schwab AMT Tax-Free Money Fund | 70,593,532 | 1,375,726 | 43,180 | 14,095,668 | 336,040 | — |
9. Subsequent Events:
Denver, Colorado
February 16, 2024
Schwab Municipal Money Fund | 97.11 % |
Schwab AMT Tax-Free Money Fund | 98.09 % |
Schwab Municipal Money Fund | $84,542 |
Schwab AMT Tax-Free Money Fund | 43,180 |
Schwab Municipal Money Fund | 98.43 % |
Schwab AMT Tax-Free Money Fund | 99.63 % |
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 |
Michael J. Beer 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 2022) | Retired. Director, President and Chief Executive Officer (Dec. 2016 – Sept. 2019), Principal Funds (investment management). | 106 | Director (2016 – 2019), Principal Funds, Inc. |
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. | 106 | 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. | 106 | 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. | 106 | 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). | 106 | None |
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). | 106 | 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). | 106 | 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.; Co-Chairman of the Board (July 2022 – present) and Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Co-Chairman of the Board (July 2022 – present) and Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Co-Chairman of the Board (July 2022 – present) and 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.; Manager (Sept. 2023 – present), TD Ameritrade Holding LLC; Director (Oct. 2020 – Aug. 2023), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 106 | Director (2008 – present), The Charles Schwab Corporation |
Richard A. Wurster2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2022) | President (Oct. 2021 – present) and Executive Vice President – Schwab Asset Management Solutions (Apr. 2019 – Oct. 2021), The Charles Schwab Corporation; President, Director (Oct. 2021 – present), Executive Vice President – Schwab Asset Management Solutions (July 2019 – Oct. 2021) and Senior Vice President – Advisory (May 2016 – July 2019), Charles Schwab & Co., Inc.; President (Nov. 2021 – present), Schwab Holdings, Inc.; Director (Oct. 2021 – present) and Chief Executive Officer (Nov. 2019 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Mar. 2018 – Oct. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (July 2016 – Apr. 2018) and President (Mar. 2017 – Apr. 2018), ThomasPartners, Inc.; Chief Executive Officer (July 2016 – Apr. 2018), Windhaven Investment Management, Inc. | 106 | 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 |
Omar Aguilar 1970 Chief Executive Officer, 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), President (Oct. 2023 – present), (Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Oct. 2022 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Sept. 2023 – present), President (Oct. 2023 – present), Chief Investment Officer (June 2011 – present) and Vice President (June 2011 – Sept. 2023), Schwab Funds, Laudus Trust and Schwab ETFs. |
Mark Fischer 1970 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) | Chief Operating Officer (Dec. 2020 – present) and Treasurer and Chief Financial Officer (Jan. 2016 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present), Chief Operating Officer (Oct. 2023 – present), Managing Director (Mar. 2023 – present) and Vice President (Oct. 2013 – Mar. 2023), Charles Schwab Investment Management, Inc. |
Dana Smith 1965 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2023) | Treasurer and Chief Financial Officer (Jan. 2023 – present) and Assistant Treasurer (Dec. 2015 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Vice President (Mar. 2022 – Mar. 2023) and Director (Oct. 2015 – Mar. 2022), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Apr. 2022 – May 2022), Charles Schwab & Co., Inc. |
Patrick Cassidy 1964 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 2018) | Chief Investment Officer (Oct. 2023 – present) and Vice President (Feb. 2018 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Chief Investment Officer (Oct. 2023 – present), and Senior Vice President (Oct. 2012 – Mar. 2023), Charles Schwab Investment Management, Inc. |
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) | Managing Director (Mar. 2023 – present), Senior Vice President (Jan. 2020 – Mar. 2023) 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), Managing Director (Mar. 2023 – present) and Vice President (Sept. 2005 – Mar. 2023), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Aug. 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. |
Member SIPC®
Printed on recycled paper.
No Action Required – Notice Regarding Shareholder Report Delivery |
Beginning on July 24, 2024, fund shareholder reports will be streamlined to highlight key information deemed important for investors to assess and monitor their fund investments. Other information, including financial statements, will not appear in the streamlined shareholder reports but will available online and delivered free of charge upon request. |
• If you already receive the full shareholder reports, you will receive the streamlined shareholder reports in the same way that you currently receive the full shareholder reports (either in paper or electronically). |
• If you currently receive a notification when a shareholder report is available on a fund’s website, beginning July 24, 2024, you will begin to receive the streamlined shareholder report (in paper). |
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. She has managed money market funds since 1988. |
Lynn Paschen, Senior Portfolio Manager for Schwab Asset Management, 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 for Schwab Asset Management, 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 | 33 Days |
Schwab Retirement Government Money Fund | |
Ticker Symbol | SNRXX |
Minimum Initial Investment1 | $1,000,000 |
Seven-Day Yield (with waivers)2 | 5.25% |
Seven-Day Yield (without waivers)2 | 5.23% |
Seven-Day Effective Yield (with waivers)2 | 5.39% |
EXPENSE RATIO (ANNUALIZED) 1 | BEGINNING ACCOUNT VALUE AT 7/1/23 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 12/31/23 | EXPENSES PAID DURING PERIOD 7/1/23-12/31/23 2 | |
Schwab Retirement Government Money Fund | ||||
Actual Return | 0.19% | $1,000.00 | $1,026.40 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 days in the period, and divided by 365 days in the fiscal year. |
1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | ||
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)1 | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Net realized and unrealized gains (losses) | 0.00 2 | 0.00 2 | 0.00 2 | 0.00 2 | — | |
Total from investment operations | 0.05 | 0.01 | 0.00 2 | 0.00 2 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Distributions from net realized gains | (0.00 )2 | (0.00 )2 | (0.00 )2 | (0.00 )2 | — | |
Total distributions | (0.05 ) | (0.01 ) | (0.00 )2 | (0.00 )2 | (0.02 ) | |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
Total return | 4.97 % | 1.47 % | 0.01 % | 0.40 % | 2.07 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.17 %3,4 | 0.07 %4 | 0.18 %4 | 0.19 % | |
Gross operating expenses | 0.21 % | 0.21 %3 | 0.21 % | 0.31 % | 0.35 % | |
Net investment income (loss) | 4.87 % | 1.50 % | 0.01 % | 0.38 % | 2.01 % | |
Net assets, end of period (x 1,000,000) | $1,947 | $1,661 | $1,610 | $1,804 | $2,072 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Per-share amount was less than $0.005. |
3 | Ratio includes less than 0.005% of non-routine proxy expenses. |
4 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
U.S. GOVERNMENT AGENCY DEBT 24.1% OF NET ASSETS | ||||||
FEDERAL FARM CREDIT BANKS FUNDING CORP | ||||||
(EFFR + 0.06%) | (a) | 5.39% | 01/02/24 | 06/24/24 | 2,100,000 | 2,100,000 |
(SOFR + 0.09%) | (a) | 5.49% | 01/02/24 | 07/01/24 | 4,000,000 | 4,000,000 |
5.40% | 07/11/24 | 2,600,000 | 2,529,372 | |||
(SOFR + 0.08%) | (a) | 5.48% | 01/02/24 | 07/22/24 | 2,000,000 | 1,999,653 |
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 08/08/24 | 600,000 | 600,000 |
5.32% | 08/12/24 | 1,700,000 | 1,646,084 | |||
3.38% | 08/26/24 | 5,800,000 | 5,725,401 | |||
5.04% | 09/17/24 | 3,400,000 | 3,281,364 | |||
5.50% | 09/20/24 | 1,400,000 | 1,346,916 | |||
(SOFR + 0.18%) | (a) | 5.58% | 01/02/24 | 10/16/24 | 5,400,000 | 5,400,974 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 11/01/24 | 5,100,000 | 5,100,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 11/07/24 | 2,100,000 | 2,100,000 |
0.88% | 11/18/24 | 2,600,000 | 2,505,019 | |||
4.95% | 12/17/24 | 1,700,000 | 1,622,154 | |||
(SOFR + 0.11%) | (a) | 5.51% | 01/02/24 | 12/26/24 | 4,700,000 | 4,698,216 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 01/03/25 | 1,800,000 | 1,800,000 |
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 01/21/25 | 6,600,000 | 6,600,000 |
(SOFR + 0.17%) | (a) | 5.57% | 01/02/24 | 01/23/25 | 1,600,000 | 1,600,000 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 03/07/25 | 3,000,000 | 3,000,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 04/21/25 | 3,600,000 | 3,600,000 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 04/28/25 | 2,800,000 | 2,800,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 05/02/25 | 9,300,000 | 9,300,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 05/15/25 | 900,000 | 900,000 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 05/20/25 | 5,100,000 | 5,100,000 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 05/27/25 | 1,500,000 | 1,500,000 |
(SOFR + 0.17%) | (a) | 5.57% | 01/02/24 | 06/02/25 | 5,600,000 | 5,600,000 |
(EFFR + 0.14%) | (a) | 5.47% | 01/02/24 | 06/11/25 | 5,500,000 | 5,500,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 06/24/25 | 3,200,000 | 3,200,000 |
(3 mo. US TBILL + 0.16%) | (a) | 5.49% | 01/03/24 | 06/30/25 | 5,600,000 | 5,600,000 |
(SOFR + 0.17%) | (a) | 5.56% | 01/02/24 | 06/30/25 | 5,200,000 | 5,200,000 |
(3 mo. US TBILL + 0.18%) | (a) | 5.51% | 01/03/24 | 07/17/25 | 5,700,000 | 5,700,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 07/21/25 | 1,100,000 | 1,100,000 |
(EFFR + 0.14%) | (a) | 5.47% | 01/02/24 | 08/20/25 | 2,900,000 | 2,900,000 |
(EFFR + 0.13%) | (a) | 5.46% | 01/02/24 | 09/15/25 | 3,400,000 | 3,400,000 |
(EFFR + 0.15%) | (a) | 5.48% | 01/02/24 | 09/26/25 | 2,000,000 | 2,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 10/06/25 | 2,400,000 | 2,399,809 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 10/17/25 | 3,500,000 | 3,500,000 |
(SOFR + 0.13%) | (a) | 5.53% | 01/02/24 | 10/21/25 | 6,800,000 | 6,800,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 11/14/25 | 6,000,000 | 6,000,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 11/28/25 | 1,000,000 | 1,000,000 |
(SOFR + 0.15%) | (a) | 5.55% | 01/02/24 | 12/15/25 | 500,000 | 500,000 |
FEDERAL HOME LOAN BANKS | ||||||
5.43% | 01/22/24 | 8,400,000 | 8,375,173 | |||
5.00% | 01/26/24 | 2,000,000 | 2,000,000 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 02/02/24 | 1,700,000 | 1,700,000 |
5.50% | 02/02/24 | 3,700,000 | 3,700,000 | |||
4.80% | 02/06/24 | 7,100,000 | 7,100,000 | |||
5.00% | 02/09/24 | 6,100,000 | 6,100,000 | |||
5.02% | 02/09/24 | 4,000,000 | 3,979,818 | |||
5.44% | 02/21/24 | 1,000,000 | 992,583 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 02/22/24 | 8,700,000 | 8,700,000 |
5.45% | 03/04/24 | 9,000,000 | 8,917,617 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 03/04/24 | 5,200,000 | 5,200,000 |
5.41% | 03/08/24 | 9,200,000 | 9,200,000 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 03/18/24 | 5,400,000 | 5,400,000 |
5.32% | 03/20/24 | 6,900,000 | 6,821,587 | |||
(SOFR + 0.05%) | (a) | 5.45% | 01/02/24 | 03/25/24 | 5,200,000 | 5,200,000 |
5.35% | 04/01/24 | 18,500,000 | 18,256,910 | |||
5.42% | 04/12/24 | 4,600,000 | 4,600,000 | |||
5.13% | 04/17/24 | 2,900,000 | 2,900,000 | |||
5.30% | 04/19/24 | 2,000,000 | 2,000,000 | |||
5.34% | 04/26/24 | 5,800,000 | 5,796,242 | |||
5.45% | 05/03/24 | 5,100,000 | 5,008,398 | |||
5.30% | 05/22/24 | 1,500,000 | 1,500,000 | |||
5.48% | 05/24/24 | 3,500,000 | 3,426,315 | |||
5.23% | 05/28/24 | 4,800,000 | 4,800,000 | |||
5.36% | 06/07/24 | 6,800,000 | 6,798,298 | |||
4.88% | 06/14/24 | 600,000 | 598,414 | |||
(SOFR + 0.03%) | (a) | 5.43% | 01/02/24 | 06/24/24 | 4,200,000 | 4,200,000 |
(SOFR + 0.06%) | (a) | 5.46% | 01/02/24 | 06/24/24 | 7,800,000 | 7,800,000 |
3.00% | 07/08/24 | 3,400,000 | 3,359,139 | |||
5.44% | 07/11/24 | 900,000 | 875,361 | |||
5.31% | 07/12/24 | 6,900,000 | 6,711,216 | |||
5.51% | 07/12/24 | 4,600,000 | 4,600,000 | |||
5.10% | 07/22/24 | 5,100,000 | 4,958,491 | |||
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 07/26/24 | 5,200,000 | 5,200,000 |
5.56% | 07/29/24 | 3,700,000 | 3,700,000 | |||
5.45% | 08/13/24 | 5,400,000 | 5,400,000 | |||
1.50% | 08/15/24 | 2,100,000 | 2,051,093 | |||
5.31% | 08/15/24 | 3,400,000 | 3,290,930 | |||
5.58% | 08/19/24 | 5,500,000 | 5,500,000 | |||
(SOFR + 0.10%) | (a) | 5.50% | 01/02/24 | 09/04/24 | 4,000,000 | 4,000,000 |
5.58% | 09/04/24 | 3,700,000 | 3,700,000 | |||
2.88% | 09/13/24 | 2,200,000 | 2,160,963 | |||
4.88% | 09/13/24 | 3,800,000 | 3,789,847 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.46% | 09/27/24 | 4,300,000 | 4,133,242 | |||
4.50% | 10/03/24 | 3,400,000 | 3,376,289 | |||
5.40% | 10/10/24 | 2,600,000 | 2,600,000 | |||
5.19% | 10/30/24 | 3,400,000 | 3,399,404 | |||
5.28% | 11/01/24 | 8,600,000 | 8,597,607 | |||
5.71% | 11/15/24 | 8,700,000 | 8,700,000 | |||
4.97% | 11/18/24 | 5,640,000 | 5,401,123 | |||
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 11/18/24 | 2,800,000 | 2,800,000 |
2.75% | 12/13/24 | 1,000,000 | 979,850 | |||
5.50% | 01/08/25 | 1,700,000 | 1,700,000 | |||
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 04/21/25 | 2,700,000 | 2,700,000 |
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 05/01/25 | 2,900,000 | 2,900,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 05/14/25 | 5,500,000 | 5,500,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 05/19/25 | 9,500,000 | 9,500,000 |
(SOFR + 0.12%) | (a) | 5.52% | 01/02/24 | 06/16/25 | 8,600,000 | 8,600,000 |
(SOFR + 0.14%) | (a) | 5.54% | 01/02/24 | 06/17/25 | 9,000,000 | 9,000,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 07/28/25 | 3,700,000 | 3,700,000 |
(SOFR + 0.16%) | (a) | 5.56% | 01/02/24 | 08/22/25 | 5,400,000 | 5,400,000 |
(SOFR + 0.19%) | (a) | 5.59% | 01/02/24 | 10/24/25 | 3,500,000 | 3,500,000 |
(SOFR + 0.19%) | (a) | 5.59% | 01/02/24 | 10/30/25 | 1,700,000 | 1,700,000 |
(SOFR + 0.20%) | (a) | 5.60% | 01/02/24 | 11/14/25 | 3,400,000 | 3,400,000 |
(SOFR + 0.21%) | (a) | 5.61% | 01/02/24 | 12/26/25 | 3,400,000 | 3,400,000 |
FEDERAL NATIONAL MORTGAGE ASSOCIATION | ||||||
5.20% | 04/19/24 | 3,900,000 | 3,900,000 | |||
5.17% | 05/22/24 | 1,500,000 | 1,500,000 | |||
1.75% | 07/02/24 | 2,600,000 | 2,554,196 | |||
5.66% | 08/09/24 | 5,100,000 | 5,100,000 | |||
2.63% | 09/06/24 | 3,100,000 | 3,041,343 | |||
Total U.S. Government Agency Debt (Cost $468,706,411) | 468,706,411 | |||||
U.S. TREASURY DEBT 6.6% OF NET ASSETS | ||||||
UNITED STATES TREASURY | ||||||
5.44% | 01/11/24 | 2,800,000 | 2,796,243 | |||
5.45% | 02/06/24 | 2,800,000 | 2,785,436 | |||
5.47% | 02/13/24 | 2,800,000 | 2,782,464 | |||
2.25% | 04/30/24 | 7,300,000 | 7,227,602 | |||
2.50% | 04/30/24 | 10,800,000 | 10,698,508 | |||
0.25% | 05/15/24 | 3,000,000 | 2,944,838 | |||
0.25% | 06/15/24 | 6,200,000 | 6,060,799 | |||
1.75% | 07/31/24 | 3,000,000 | 2,936,728 | |||
3.00% | 07/31/24 | 4,200,000 | 4,142,926 | |||
0.38% | 08/15/24 | 5,100,000 | 4,949,068 | |||
0.38% | 09/15/24 | 5,300,000 | 5,125,077 | |||
2.13% | 09/30/24 | 5,000,000 | 4,889,629 | |||
0.63% | 10/15/24 | 3,000,000 | 2,896,045 | |||
1.50% | 10/31/24 | 400,000 | 388,153 | |||
0.75% | 11/15/24 | 6,300,000 | 6,067,163 | |||
2.25% | 11/15/24 | 1,500,000 | 1,463,344 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
1.50% | 11/30/24 | 5,400,000 | 5,238,303 | |||
2.25% | 12/31/24 | 3,100,000 | 3,020,956 | |||
(3 mo. US TBILL + 0.20%) | (a) | 5.53% | 01/02/24 | 01/31/25 | 16,400,000 | 16,416,394 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 04/30/25 | 11,600,000 | 11,607,085 |
(3 mo. US TBILL + 0.13%) | (a) | 5.46% | 01/02/24 | 07/31/25 | 13,600,000 | 13,592,538 |
(3 mo. US TBILL + 0.17%) | (a) | 5.50% | 01/02/24 | 10/31/25 | 11,500,000 | 11,486,970 |
Total U.S. Treasury Debt (Cost $129,516,269) | 129,516,269 | |||||
VARIABLE RATE DEMAND NOTES 0.4% OF NET ASSETS | ||||||
BRIDGE WF II PARKWAY CLUB LLC | ||||||
TAXABLE M/F HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.46% | 01/05/24 | 3,100,000 | 3,100,000 | |
GINA RISTOW BELLING 2022 | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.45% | 01/05/24 | 900,000 | 900,000 | |
RIVERSIDE HOME LENDING | ||||||
TAXABLE S/F RENTAL HOUSING RB SERIES 2021A (LOC: FEDERAL HOME LOAN BANKS) | (b) | 5.46% | 01/05/24 | 4,200,000 | 4,200,000 | |
Total Variable Rate Demand Notes (Cost $8,200,000) | 8,200,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 69.3% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 35.3% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 3,001,777 | 3,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $3,090,000, 3.50%, due 02/01/50) | ||||||
BANK OF MONTREAL | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 6,003,560 | 6,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $6,183,668, 3.00%, due 04/20/52) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 3,003,103 | 3,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $3,093,197, 5.50%, due 06/20/53) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 4,002,373 | 4,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $4,122,445, 5.50%, due 06/20/53) | ||||||
BNP PARIBAS SA | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 20,065,144 | 20,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $20,732,902, 0.00% - 7.00%, due 04/15/24 - 11/20/53) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
BOFA SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 2,001,189 | 2,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $2,057,509, 0.00% - 4.97%, due 03/19/24 - 02/20/62) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 11,006,539 | 11,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $11,220,015, 1.38%, due 08/15/50) | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.40% | 01/02/24 | 22,201,300 | 22,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $22,621,371, 1.25% - 6.50%, due 11/15/41 - 02/20/66) | ||||||
Issued 10/26/23, repurchase date 01/25/24 | 5.43% | 01/05/24 | 13,139,219 | 13,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $13,261,605, 1.75% - 5.50%, due 09/30/25 - 09/25/41) | ||||||
Issued 09/28/23, repurchase date 02/28/24 | (a) | 5.47% | 01/02/24 | 01/05/24 | 3,045,128 | 3,000,000 |
(Collateralized by U.S. Treasury Securities valued at $3,060,052, 4.13%, due 07/31/28) (SOFR + 0.07%) | ||||||
Issued 10/16/23, repurchase date 04/16/24 | 5.61% | 04/16/24 | 17,484,798 | 17,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $17,437,689, 0.63% - 3.00%, due 12/31/27 - 09/25/51) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 2,001,187 | 2,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $2,060,000, 2.07% - 5.43%, due 06/01/36 - 03/01/53) | ||||||
Issued 11/30/23, repurchase date 02/29/24 | 5.34% | 01/05/24 | 6,032,040 | 6,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $6,180,000, 2.00% - 6.50%, due 02/01/42 - 12/01/53) | ||||||
Issued 12/04/23, repurchase date 04/04/24 | 5.34% | 01/05/24 | 12,056,960 | 12,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $12,360,000, 2.00% - 5.00%, due 06/01/51 - 07/20/53) | ||||||
Issued 12/13/23, repurchase date 03/13/24 | 5.34% | 01/05/24 | 17,057,998 | 17,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $17,510,000, 3.00% - 6.50%, due 12/01/51 - 08/01/53) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.34% | 01/05/24 | 7,022,843 | 7,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $7,210,000, 2.00% - 7.50%, due 06/01/28 - 12/20/67) | ||||||
Issued 11/20/23, repurchase date 01/22/24 | 5.36% | 01/05/24 | 22,150,676 | 22,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $22,660,000, 2.00% - 6.50%, due 06/01/51 - 10/01/53) | ||||||
Issued 11/20/23, repurchase date 02/20/24 | 5.37% | 01/05/24 | 2,013,723 | 2,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $2,060,000, 3.00% - 7.00%, due 11/01/51 - 08/01/53) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 10,005,933 | 10,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $10,399,554, 0.00% - 7.00%, due 01/30/24 - 10/01/53) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 33,019,580 | 33,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $33,990,000, 2.00% - 7.00%, due 08/01/37 - 09/01/53) | ||||||
GOLDMAN SACHS & CO LLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 85,087,928 | 85,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $86,700,001, 3.50%, due 07/01/49) | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 16,016,551 | 16,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $16,471,403, 2.00% - 6.53%, due 08/01/26 - 01/01/57) | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.34% | 01/03/24 | 50,051,917 | 50,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $51,000,000, 2.00% - 7.00%, due 05/01/31 - 12/01/53) | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.37% | 01/04/24 | 18,018,795 | 18,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $18,360,000, 3.50% - 6.50%, due 05/20/42 - 08/15/58) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.34% | 01/05/24 | 40,041,533 | 40,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $41,025,691, 2.50% - 6.53%, due 10/01/43 - 12/20/53) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 43,025,513 | 43,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $44,290,001, 2.00% - 6.50%, due 02/20/26 - 06/20/63) | ||||||
Issued 09/29/23, repurchase date 04/05/24 | (a) | 5.55% | 01/02/24 | 04/02/24 | 18,516,150 | 18,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $18,540,001, 0.00% - 4.00%, due 10/15/35 - 11/20/40) (SOFR + 0.15%) | ||||||
Issued 12/19/23, repurchase date 06/26/24 | (a) | 5.55% | 01/02/24 | 04/02/24 | 15,242,813 | 15,000,000 |
(Collateralized by U.S. Government Agency Securities valued at $15,450,002, 3.50%, due 05/20/50) (SOFR + 0.15%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 4,002,373 | 4,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $4,080,081, 3.63%, due 05/15/53) | ||||||
NOMURA SECURITIES INTERNATIONAL INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 3,001,780 | 3,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $3,060,774, 4.75%, due 11/15/53) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 23,013,647 | 23,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $23,644,005, 2.50% - 7.00%, due 05/31/27 - 11/01/53) | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 50,162,861 | 50,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $51,861,602, 0.50% - 7.00%, due 01/15/25 - 11/01/53) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
ROYAL BANK OF CANADA | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 6,019,617 | 6,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $6,270,005, 6.50% - 7.00%, due 09/01/53 - 12/01/53) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 92,300,789 | 92,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $96,140,074, 1.71% - 7.00%, due 02/25/26 - 07/01/60) | ||||||
TRUIST BANK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 9,005,320 | 9,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $9,360,000, 1.00% - 1.25%, due 10/20/50) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 12/08/23, repurchase date 01/12/24 | 5.34% | 01/05/24 | 1,004,153 | 1,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $1,045,400, 3.50%, due 03/01/52) | ||||||
688,000,000 | ||||||
U.S. TREASURY REPURCHASE AGREEMENTS 34.0% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.31% | 01/02/24 | 3,001,770 | 3,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $3,060,027, 0.88% - 3.00%, due 01/15/29 - 05/15/47) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 3,001,773 | 3,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $3,061,852, 0.00%, due 04/25/24) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 17,425,936 | 17,415,622 | ||
(Collateralized by U.S. Treasury Securities valued at $17,774,518, 0.00%, due 01/11/24) | ||||||
BOFA SECURITIES INC | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.38% | 01/02/24 | 31,282,599 | 31,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $31,620,045, 1.38% - 4.63%, due 06/30/25 - 08/15/50) | ||||||
Issued 09/28/23, repurchase date 02/14/24 | (a) | 5.44% | 01/02/24 | 01/05/24 | 8,119,680 | 8,000,000 |
(Collateralized by U.S. Treasury Securities valued at $8,160,021, 1.13% - 4.75%, due 08/31/28 - 11/15/53) (SOFR + 0.04%) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 11/02/23, repurchase date 01/04/24 | 5.36% | 01/04/24 | 5,046,900 | 5,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $5,100,070, 0.13% - 4.38%, due 10/15/24 - 08/15/53) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 53,054,826 | 53,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $54,060,306, 0.13% - 4.00%, due 12/31/29 - 02/28/30) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 35,020,728 | 35,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $35,736,019, 1.25% - 3.63%, due 03/31/28 - 04/30/28) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.30% | 01/02/24 | 476,280,311 | 476,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $476,280,366, 1.13% - 3.13%, due 05/31/24 - 02/15/31) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 20,011,844 | 20,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $20,400,001, 3.88%, due 08/15/33) | ||||||
MUFG SECURITIES AMERICAS INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 10,005,944 | 10,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $10,200,001, 0.13% - 7.50%, due 11/15/24 - 05/15/48) | ||||||
661,415,622 | ||||||
Total Repurchase Agreements (Cost $1,349,415,622) | 1,349,415,622 | |||||
Total Investments in Securities (Cost $1,955,838,302) | 1,955,838,302 |
* | 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) | 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) | $606,422,680 | |
Repurchase agreements, at cost and value — unaffiliated (Note 2a) | 1,349,415,622 | |
Receivables: | ||
Interest | 7,113,773 | |
Fund shares sold | 1,793,912 | |
Prepaid expenses | + | 14,214 |
Total assets | 1,964,760,201 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 9,156,955 | |
Distributions to shareholders | 8,037,293 | |
Investment adviser and administrator fees | 289,534 | |
Independent trustees’ fees | 129 | |
Accrued expenses | + | 134,127 |
Total liabilities | 17,618,038 | |
Net assets | $1,947,142,163 | |
Net Assets by Source | ||
Capital received from investors | $1,947,142,151 | |
Total distributable earnings | + | 12 |
Net assets | $1,947,142,163 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,947,142,163 | 1,947,139,943 | $1.00 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $91,697,455 | |
Expenses | ||
Investment adviser and administrator fees | 3,434,499 | |
Portfolio accounting fees | 82,561 | |
Registration fees | 73,522 | |
Professional fees | 42,245 | |
Independent trustees’ fees | 40,685 | |
Custodian fees | 40,491 | |
Shareholder reports | 10,364 | |
Transfer agent fees | 1,339 | |
Other expenses | + | 14,152 |
Total expenses | 3,739,858 | |
Expense reduction | – | 305,359 |
Net expenses | – | 3,434,499 |
Net investment income | 88,262,956 | |
REALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 15,244 | |
Increase in net assets resulting from operations | $88,278,200 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $88,262,956 | $24,400,964 | |
Net realized gains | + | 15,244 | 2,857 |
Increase in net assets from operations | $88,278,200 | $24,403,821 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($88,277,273 ) | ($24,403,718 ) | |
TRANSACTIONS IN FUND SHARES* | |||
Shares sold | 609,494,467 | 378,677,884 | |
Shares reinvested | 33,322,800 | 9,224,750 | |
Shares redeemed | + | (356,730,840 ) | (337,326,894 ) |
Net transactions in fund shares | 286,086,427 | 50,575,740 | |
NET ASSETS | |||
Beginning of period | $1,661,054,809 | $1,610,478,966 | |
Total increase | + | 286,087,354 | 50,575,843 |
End of period | $1,947,142,163 | $1,661,054,809 |
* | Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars. |
THE CHARLES SCHWAB FAMILY OF FUNDS | |
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 |
2. Significant Accounting Policies:
3. Risk Factors:
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.
4. Affiliates and Affiliated Transactions:
6. Borrowing from Banks:
7. Federal Income Taxes:
UNDISTRIBUTED ORDINARY INCOME | TOTAL |
$12 | $12 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | ORDINARY INCOME | |
$88,277,273 | $24,403,718 |
Denver, Colorado
February 16, 2024
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 |
Michael J. Beer 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 2022) | Retired. Director, President and Chief Executive Officer (Dec. 2016 – Sept. 2019), Principal Funds (investment management). | 106 | Director (2016 – 2019), Principal Funds, Inc. |
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. | 106 | 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. | 106 | 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. | 106 | 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). | 106 | None |
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). | 106 | 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). | 106 | 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.; Co-Chairman of the Board (July 2022 – present) and Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Co-Chairman of the Board (July 2022 – present) and Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Co-Chairman of the Board (July 2022 – present) and 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.; Manager (Sept. 2023 – present), TD Ameritrade Holding LLC; Director (Oct. 2020 – Aug. 2023), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 106 | Director (2008 – present), The Charles Schwab Corporation |
Richard A. Wurster2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2022) | President (Oct. 2021 – present) and Executive Vice President – Schwab Asset Management Solutions (Apr. 2019 – Oct. 2021), The Charles Schwab Corporation; President, Director (Oct. 2021 – present), Executive Vice President – Schwab Asset Management Solutions (July 2019 – Oct. 2021) and Senior Vice President – Advisory (May 2016 – July 2019), Charles Schwab & Co., Inc.; President (Nov. 2021 – present), Schwab Holdings, Inc.; Director (Oct. 2021 – present) and Chief Executive Officer (Nov. 2019 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Mar. 2018 – Oct. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (July 2016 – Apr. 2018) and President (Mar. 2017 – Apr. 2018), ThomasPartners, Inc.; Chief Executive Officer (July 2016 – Apr. 2018), Windhaven Investment Management, Inc. | 106 | 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 |
Omar Aguilar 1970 Chief Executive Officer, 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), President (Oct. 2023 – present), (Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Oct. 2022 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Sept. 2023 – present), President (Oct. 2023 – present), Chief Investment Officer (June 2011 – present) and Vice President (June 2011 – Sept. 2023), Schwab Funds, Laudus Trust and Schwab ETFs. |
Mark Fischer 1970 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) | Chief Operating Officer (Dec. 2020 – present) and Treasurer and Chief Financial Officer (Jan. 2016 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present), Chief Operating Officer (Oct. 2023 – present), Managing Director (Mar. 2023 – present) and Vice President (Oct. 2013 – Mar. 2023), Charles Schwab Investment Management, Inc. |
Dana Smith 1965 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2023) | Treasurer and Chief Financial Officer (Jan. 2023 – present) and Assistant Treasurer (Dec. 2015 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Vice President (Mar. 2022 – Mar. 2023) and Director (Oct. 2015 – Mar. 2022), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Apr. 2022 – May 2022), Charles Schwab & Co., Inc. |
Patrick Cassidy 1964 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 2018) | Chief Investment Officer (Oct. 2023 – present) and Vice President (Feb. 2018 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Chief Investment Officer (Oct. 2023 – present), and Senior Vice President (Oct. 2012 – Mar. 2023), Charles Schwab Investment Management, Inc. |
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) | Managing Director (Mar. 2023 – present), Senior Vice President (Jan. 2020 – Mar. 2023) 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), Managing Director (Mar. 2023 – present) and Vice President (Sept. 2005 – Mar. 2023), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Aug. 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. |
Member SIPC®
Printed on recycled paper.
No Action Required – Notice Regarding Shareholder Report Delivery |
Beginning on July 24, 2024, fund shareholder reports will be streamlined to highlight key information deemed important for investors to assess and monitor their fund investments. Other information, including financial statements, will not appear in the streamlined shareholder reports but will available online and delivered free of charge upon request. |
• If you already receive the full shareholder reports, you will receive the streamlined shareholder reports in the same way that you currently receive the full shareholder reports (either in paper or electronically). |
• If you currently receive a notification when a shareholder report is available on a fund’s website, beginning July 24, 2024, you will begin to receive the streamlined shareholder report (in paper). |
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. She has managed money market funds since 1988. |
Michael Lin, Senior Portfolio Manager for Schwab Asset Management, 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 for Schwab Asset Management, 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 for Schwab Asset Management, 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 for Schwab Asset Management, 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 | 40 Days |
Schwab Variable Share Price Money Fund | |
Ultra Shares | |
Ticker Symbol | SVUXX |
Minimum Initial Investment1 | $1,000,000 |
Seven-Day Yield (with waivers)2 | 5.43% |
Seven-Day Yield (without waivers)2 | 5.41% |
Seven-Day Effective Yield (with waivers)2 | 5.57% |
EXPENSE RATIO (ANNUALIZED) 1 | BEGINNING ACCOUNT VALUE AT 7/1/23 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 12/31/23 | EXPENSES PAID DURING PERIOD 7/1/23-12/31/23 2 | |
Schwab Variable Share Price Money Fund | ||||
Ultra Shares | ||||
Actual Return | 0.19% | $1,000.00 | $1,027.60 | $0.97 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.25 | $0.97 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 days in the period, and divided by 365 days in the fiscal year. |
Ultra Shares | 1/1/23– 12/31/23 | 1/1/22– 12/31/22 | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $1.0003 | $1.0003 | $1.0003 | $1.0004 | $1.0002 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.0506 | 0.0204 | 0.0003 | 0.0057 | 0.0217 | |
Net realized and unrealized gains (losses) | 0.0001 | (0.0038 )2 | (0.0000 )3 | (0.0008 ) | 0.0005 | |
Total from investment operations | 0.0507 | 0.0166 | 0.0003 | 0.0049 | 0.0222 | |
Less distributions: | ||||||
Distributions from net investment income | (0.0505 ) | (0.0166 ) | (0.0003 ) | (0.0050 ) | (0.0220 ) | |
Distributions from net realized gains | — | — | — | — | (0.0000 )3 | |
Total distributions | (0.0505 ) | (0.0166 ) | (0.0003 ) | (0.0050 ) | (0.0220 ) | |
Net asset value at end of period | $1.0005 | $1.0003 | $1.0003 | $1.0003 | $1.0004 | |
Total return | 5.20 % | 1.64 % | 0.03 % | 0.49 % | 2.24 % | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19 % | 0.18 %4,5 | 0.11 %5 | 0.18 %5 | 0.19 % | |
Gross operating expenses | 0.20 % | 0.21 %4 | 0.21 % | 0.31 % | 0.34 % | |
Net investment income (loss) | 5.06 % | 2.04 % | 0.03 % | 0.57 % | 2.17 % | |
Net assets, end of period (x 1,000,000) | $5,763 | $4,878 | $2,693 | $3,414 | $5,388 |
1 | Calculated based on the average shares outstanding during the period. |
2 | 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. |
3 | Per share amount was less than $0.00005. |
4 | Ratio includes less than 0.005% of non-routine proxy expenses. |
5 | Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation. |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CERTIFICATES OF DEPOSIT 21.8% OF NET ASSETS | ||||||
BANK OF AMERICA NA | ||||||
5.90% | 04/17/24 | 23,000,000 | 23,018,122 | |||
5.75% | 05/06/24 | 10,000,000 | 10,007,681 | |||
5.72% | 07/22/24 | 5,000,000 | 5,010,519 | |||
5.80% | 08/09/24 | 25,000,000 | 25,072,667 | |||
6.00% | 08/16/24 | 1,000,000 | 1,003,802 | |||
6.00% | 09/23/24 | 2,000,000 | 2,009,901 | |||
6.00% | 10/01/24 | 3,000,000 | 3,015,656 | |||
BANK OF MONTREAL (CHICAGO BRANCH) | ||||||
5.75% | 05/06/24 | 3,000,000 | 3,002,781 | |||
BANK OF NOVA SCOTIA (HOUSTON BRANCH) | ||||||
6.05% | 06/28/24 | 5,000,000 | 5,012,108 | |||
5.93% | 07/19/24 | 10,000,000 | 10,027,655 | |||
5.55% | 09/05/24 | 10,000,000 | 10,016,016 | |||
5.60% | 09/11/24 | 5,000,000 | 5,010,373 | |||
BANK OF NOVA SCOTIA (NEW YORK BRANCH) | ||||||
(SOFR + 0.49%) | (a) | 5.89% | 01/02/24 | 05/01/24 | 15,000,000 | 15,007,737 |
BARCLAYS BANK PLC (NEW YORK BRANCH) | ||||||
5.85% | 03/04/24 | 50,000,000 | 50,021,499 | |||
5.57% | 06/20/24 | 5,000,000 | 5,002,179 | |||
(SOFR + 0.32%) | (a) | 5.71% | 01/02/24 | 06/20/24 | 5,000,000 | 5,000,068 |
BNP PARIBAS (NEW YORK BRANCH) | ||||||
5.77% | 02/15/24 | 10,000,000 | 10,003,668 | |||
5.87% | 05/06/24 | 29,000,000 | 29,037,450 | |||
5.75% | 05/10/24 | 1,000,000 | 1,000,988 | |||
5.70% | 05/14/24 | 19,000,000 | 19,016,720 | |||
CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH) | ||||||
5.78% | 02/16/24 | 5,000,000 | 5,001,539 | |||
5.61% | 06/03/24 | 30,000,000 | 30,025,201 | |||
CITIBANK NA | ||||||
5.75% | 01/02/24 | 25,000,000 | 25,000,743 | |||
5.77% | 01/03/24 | 20,000,000 | 20,000,795 | |||
5.76% | 02/01/24 | 11,000,000 | 11,002,404 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.80% | 02/27/24 | 14,000,000 | 14,004,374 | |||
(SOFR + 0.50%) | (a) | 5.89% | 01/02/24 | 05/09/24 | 20,000,000 | 20,017,546 |
COOPERATIEVE RABOBANK UA (LONDON BRANCH) | ||||||
5.84% | 04/12/24 | 50,000,000 | 50,050,388 | |||
5.60% | 06/04/24 | 25,000,000 | 25,018,410 | |||
COOPERATIEVE RABOBANK UA (NEW YORK BRANCH) | ||||||
5.74% | 02/20/24 | 10,000,000 | 10,004,206 | |||
(SOFR + 0.37%) | (a) | 5.77% | 01/02/24 | 03/18/24 | 6,000,000 | 6,003,621 |
5.67% | 05/22/24 | 20,000,000 | 20,015,761 | |||
5.87% | 06/20/24 | 2,000,000 | 2,004,397 | |||
5.70% | 07/22/24 | 5,000,000 | 5,008,886 | |||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW YORK BRANCH) | ||||||
5.74% | 02/02/24 | 13,000,000 | 13,004,344 | |||
5.53% | 03/12/24 | 6,000,000 | 6,001,695 | |||
5.44% | 03/26/24 | 6,000,000 | 6,000,268 | |||
HSBC BANK USA NA (NEW YORK BRANCH) | ||||||
5.53% | 03/04/24 | 4,000,000 | 4,000,587 | |||
LANDESBANK BADEN WUERTTEMBERG (NEW YORK BRANCH) | ||||||
5.32% | 01/04/24 | 11,000,000 | 10,999,970 | |||
5.33% | 01/05/24 | 5,000,000 | 5,000,030 | |||
MITSUBISHI UFJ TRUST AND BANKING CORP (LONDON BRANCH) | ||||||
5.87% | 02/08/24 | 1,000,000 | 1,000,235 | |||
MITSUBISHI UFJ TRUST AND BANKING CORP (NEW YORK BRANCH) | ||||||
(SOFR + 0.44%) | (a) | 5.83% | 01/02/24 | 01/17/24 | 5,000,000 | 5,000,857 |
(SOFR + 0.43%) | (a) | 5.83% | 01/02/24 | 01/22/24 | 7,000,000 | 7,001,443 |
(SOFR + 0.41%) | (a) | 5.81% | 01/02/24 | 02/01/24 | 12,000,000 | 12,003,117 |
(SOFR + 0.42%) | (a) | 5.82% | 01/02/24 | 02/01/24 | 3,000,000 | 3,000,807 |
(SOFR + 0.41%) | (a) | 5.81% | 01/02/24 | 02/09/24 | 3,000,000 | 3,000,967 |
(SOFR + 0.41%) | (a) | 5.81% | 01/02/24 | 02/26/24 | 6,000,000 | 6,002,561 |
(SOFR + 0.39%) | (a) | 5.79% | 01/02/24 | 03/04/24 | 3,000,000 | 3,001,328 |
(SOFR + 0.40%) | (a) | 5.80% | 01/02/24 | 03/20/24 | 22,000,000 | 22,012,733 |
5.82% | 04/15/24 | 1,000,000 | 1,000,818 | |||
MIZUHO BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.43%) | (a) | 5.82% | 01/02/24 | 02/02/24 | 32,000,000 | 32,009,859 |
5.85% | 05/07/24 | 11,000,000 | 11,011,478 | |||
5.73% | 05/15/24 | 24,000,000 | 24,018,070 | |||
5.71% | 05/17/24 | 1,000,000 | 1,000,705 | |||
MUFG BANK LTD (LONDON BRANCH) | ||||||
5.82% | 02/12/24 | 5,000,000 | 5,000,769 | |||
5.60% | 03/15/24 | 8,000,000 | 7,999,753 | |||
MUFG BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.43%) | (a) | 5.82% | 01/02/24 | 01/24/24 | 1,000,000 | 1,000,220 |
5.78% | 02/13/24 | 15,000,000 | 15,004,429 | |||
5.78% | 02/22/24 | 15,000,000 | 15,004,641 | |||
(SOFR + 0.39%) | (a) | 5.78% | 01/02/24 | 02/29/24 | 11,000,000 | 11,003,971 |
(SOFR + 0.39%) | (a) | 5.78% | 01/02/24 | 03/04/24 | 4,000,000 | 4,001,514 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.81% | 03/14/24 | 4,000,000 | 4,001,924 | |||
5.84% | 04/09/24 | 1,000,000 | 1,000,736 | |||
5.84% | 04/18/24 | 3,000,000 | 3,002,554 | |||
5.85% | 04/23/24 | 1,500,000 | 1,500,828 | |||
5.85% | 04/30/24 | 32,000,000 | 32,032,010 | |||
5.78% | 05/07/24 | 4,000,000 | 4,003,196 | |||
5.72% | 05/20/24 | 2,000,000 | 2,001,245 | |||
5.71% | 05/21/24 | 2,000,000 | 2,001,172 | |||
5.71% | 05/24/24 | 16,000,000 | 16,009,475 | |||
5.70% | 05/29/24 | 16,500,000 | 16,505,616 | |||
NORDEA BANK ABP (NEW YORK BRANCH) | ||||||
5.74% | 02/14/24 | 5,000,000 | 5,001,586 | |||
(SOFR + 0.37%) | (a) | 5.77% | 01/02/24 | 03/04/24 | 6,000,000 | 6,002,731 |
OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.35%) | (a) | 5.74% | 01/02/24 | 03/06/24 | 2,000,000 | 2,000,770 |
(SOFR + 0.35%) | (a) | 5.74% | 01/02/24 | 03/12/24 | 11,000,000 | 11,004,179 |
(SOFR + 0.36%) | (a) | 5.75% | 01/02/24 | 04/26/24 | 2,000,000 | 2,000,964 |
ROYAL BANK OF CANADA (NEW YORK BRANCH) | ||||||
(SOFR + 0.51%) | (a) | 5.91% | 01/02/24 | 04/24/24 | 20,000,000 | 20,018,521 |
5.72% | 08/16/24 | 45,000,000 | 45,114,277 | |||
6.00% | 10/17/24 | 20,000,000 | 20,116,104 | |||
SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH) | ||||||
(SOFR + 0.47%) | (a) | 5.87% | 01/02/24 | 01/17/24 | 13,000,000 | 13,002,387 |
(SOFR + 0.44%) | (a) | 5.84% | 01/02/24 | 01/31/24 | 10,000,000 | 10,002,763 |
(SOFR + 0.42%) | (a) | 5.82% | 01/02/24 | 02/08/24 | 49,000,000 | 49,015,616 |
(SOFR + 0.39%) | (a) | 5.79% | 01/02/24 | 04/01/24 | 24,000,000 | 24,015,016 |
5.82% | 04/12/24 | 2,000,000 | 2,001,817 | |||
5.85% | 04/19/24 | 1,500,000 | 1,501,617 | |||
5.78% | 05/06/24 | 3,000,000 | 3,003,406 | |||
5.68% | 05/28/24 | 6,000,000 | 6,007,367 | |||
(SOFR + 0.30%) | (a) | 5.70% | 01/02/24 | 06/11/24 | 4,000,000 | 4,000,609 |
SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH) | ||||||
5.69% | 02/26/24 | 5,000,000 | 5,001,091 | |||
SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH) | ||||||
(SOFR + 0.40%) | (a) | 5.80% | 01/02/24 | 02/21/24 | 12,000,000 | 12,005,113 |
5.62% | 02/29/24 | 13,000,000 | 13,002,745 | |||
5.62% | 03/01/24 | 5,000,000 | 5,001,059 | |||
5.53% | 03/19/24 | 6,000,000 | 6,000,879 | |||
SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH) | ||||||
(SOFR + 0.34%) | (a) | 5.73% | 01/02/24 | 02/22/24 | 5,000,000 | 5,001,657 |
(SOFR + 0.34%) | (a) | 5.73% | 01/02/24 | 02/29/24 | 4,000,000 | 4,001,504 |
TORONTO-DOMINION BANK (NEW YORK BRANCH) | ||||||
5.86% | 03/22/24 | 25,000,000 | 25,011,404 | |||
5.96% | 04/08/24 | 1,000,000 | 1,000,819 | |||
5.90% | 04/29/24 | 22,000,000 | 22,020,328 | |||
(EFFR + 0.50%) | (a) | 5.83% | 01/02/24 | 05/21/24 | 5,000,000 | 5,005,779 |
(EFFR + 0.50%) | (a) | 5.83% | 01/02/24 | 05/22/24 | 6,000,000 | 6,006,987 |
5.85% | 07/12/24 | 5,000,000 | 5,012,019 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
5.92% | 07/26/24 | 1,000,000 | 1,003,131 | |||
(SOFR + 0.60%) | (a) | 5.99% | 01/02/24 | 07/31/24 | 8,000,000 | 8,013,776 |
6.00% | 08/21/24 | 5,000,000 | 5,018,894 | |||
6.00% | 10/17/24 | 15,000,000 | 15,082,294 | |||
TRUIST BANK | ||||||
5.63% | 01/02/24 | 2,000,000 | 2,000,051 | |||
5.32% | 01/03/24 | 10,500,000 | 10,499,996 | |||
5.32% | 01/04/24 | 21,000,000 | 20,999,988 | |||
5.61% | 03/04/24 | 5,000,000 | 5,001,479 | |||
UBS AG (STAMFORD BRANCH) | ||||||
5.80% | 04/04/24 | 5,000,000 | 5,003,505 | |||
WELLS FARGO BANK NA | ||||||
(SOFR + 0.36%) | (a) | 5.76% | 01/02/24 | 03/04/24 | 15,000,000 | 15,007,089 |
(SOFR + 0.50%) | (a) | 5.90% | 01/02/24 | 05/14/24 | 5,000,000 | 5,004,828 |
(SOFR + 0.52%) | (a) | 5.92% | 01/02/24 | 06/03/24 | 10,000,000 | 10,011,129 |
(SOFR + 0.52%) | (a) | 5.92% | 01/02/24 | 06/04/24 | 10,000,000 | 10,011,199 |
(SOFR + 0.52%) | (a) | 5.92% | 01/02/24 | 06/05/24 | 10,000,000 | 10,011,283 |
Total Certificates Of Deposit (Cost $1,255,991,422) | 1,257,151,542 | |||||
ASSET-BACKED COMMERCIAL PAPER 7.5% OF NET ASSETS | ||||||
ATLANTIC ASSET SECURITIZATION LLC | (b)(c) | 5.31% | 01/02/24 | 1,000,000 | 999,408 | |
BARTON CAPITAL SA | ||||||
(b)(c) | 5.32% | 01/02/24 | 2,000,000 | 1,998,816 | ||
(b)(c) | 5.59% | 03/11/24 | 25,000,000 | 24,724,830 | ||
BEDFORD ROW FUNDING CORP | ||||||
(b)(c) | 5.77% | 02/05/24 | 10,000,000 | 9,943,222 | ||
(SOFR + 0.38%) | (a)(b)(c) | 5.78% | 01/02/24 | 02/14/24 | 14,000,000 | 14,004,201 |
(SOFR + 0.40%) | (a)(b)(c) | 5.80% | 01/02/24 | 03/01/24 | 4,000,000 | 4,001,745 |
(b)(c) | 5.62% | 04/01/24 | 20,000,000 | 19,716,618 | ||
(SOFR + 0.48%) | (a)(b)(c) | 5.88% | 01/02/24 | 05/02/24 | 3,000,000 | 3,002,234 |
(b)(c) | 5.67% | 05/20/24 | 3,000,000 | 2,936,751 | ||
BENNINGTON STARK CAPITAL COMPANY LLC | (b)(c) | 5.61% | 03/08/24 | 5,000,000 | 4,947,257 | |
CABOT TRAIL FUNDING LLC | (b)(c) | 5.57% | 06/10/24 | 28,000,000 | 27,321,413 | |
CAFCO LLC | (b)(c) | 5.58% | 04/19/24 | 2,000,000 | 1,966,500 | |
CHARIOT FUNDING LLC | ||||||
(SOFR + 0.40%) | (a)(b)(c) | 5.79% | 01/02/24 | 05/28/24 | 15,000,000 | 15,001,795 |
(SOFR + 0.40%) | (a)(b)(c) | 5.79% | 01/02/24 | 05/30/24 | 15,000,000 | 15,001,856 |
CHARTA LLC | (b)(c) | 5.31% | 01/02/24 | 3,000,000 | 2,998,230 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
COLLATERALIZED COMMERCIAL PAPER V CO LLC | ||||||
(b) | 5.80% | 05/24/24 | 5,000,000 | 5,005,186 | ||
(SOFR + 0.41%) | (a)(b) | 5.81% | 01/02/24 | 05/29/24 | 3,000,000 | 3,000,413 |
(b) | 5.60% | 06/20/24 | 25,000,000 | 25,008,452 | ||
CONCORD MINUTEMEN CAPITAL CO LLC SERIES C | ||||||
(b)(c) | 5.75% | 02/12/24 | 1,000,000 | 1,000,314 | ||
(b)(c) | 5.75% | 02/13/24 | 1,000,000 | 1,000,315 | ||
(b)(c) | 5.75% | 02/16/24 | 10,000,000 | 10,003,172 | ||
(b)(c) | 5.72% | 02/20/24 | 1,000,000 | 1,000,273 | ||
CRC FUNDING LLC | (b)(c) | 5.31% | 01/02/24 | 1,000,000 | 999,396 | |
FAIRWAY FINANCE CO LLC | (b)(c) | 5.76% | 01/09/24 | 5,000,000 | 4,991,849 | |
GOTHAM FUNDING CORP | ||||||
(b)(c) | 5.77% | 02/26/24 | 1,000,000 | 991,050 | ||
(b)(c) | 5.61% | 03/05/24 | 15,000,000 | 14,847,500 | ||
(b)(c) | 5.54% | 03/11/24 | 2,000,000 | 1,977,854 | ||
GREAT BEAR FUNDING LLC / GREAT BEAR FUNDING DAC | ||||||
(b)(c) | 5.33% | 01/02/24 | 2,000,000 | 1,998,815 | ||
(b)(c) | 5.35% | 01/03/24 | 6,000,000 | 5,995,553 | ||
(b)(c) | 5.35% | 01/04/24 | 4,000,000 | 3,996,440 | ||
(b)(c) | 5.35% | 01/05/24 | 4,000,000 | 3,995,843 | ||
LMA AMERICAS LLC | (b)(c) | 5.32% | 01/02/24 | 3,000,000 | 2,998,224 | |
LONGSHIP FUNDING LLC | (b)(c) | 5.32% | 01/02/24 | 2,000,000 | 1,998,819 | |
MANHATTAN ASSET FUNDING COMPANY LLC | (b)(c) | 5.82% | 05/01/24 | 1,000,000 | 981,432 | |
NIEUW AMSTERDAM RECEIVABLES CORPORATION BV | (b)(c) | 5.31% | 01/02/24 | 4,000,000 | 3,997,606 | |
OLD LINE FUNDING LLC | ||||||
(SOFR + 0.38%) | (a)(b)(c) | 5.77% | 01/02/24 | 02/05/24 | 25,000,000 | 25,006,942 |
(b)(c) | 5.57% | 06/11/24 | 5,000,000 | 4,878,393 | ||
PODIUM FUNDING TRUST | (b) | 5.62% | 06/10/24 | 4,000,000 | 3,904,405 | |
PRICOA SHORT TERM FUNDING LLC | ||||||
(b)(c) | 5.85% | 04/15/24 | 2,000,000 | 1,967,619 | ||
(b)(c) | 5.65% | 05/01/24 | 1,000,000 | 981,526 | ||
RIDGEFIELD FUNDING COMPANY LLC | ||||||
(b)(c) | 5.78% | 03/01/24 | 7,000,000 | 6,933,605 | ||
(b)(c) | 5.77% | 03/05/24 | 10,000,000 | 9,899,004 | ||
(b)(c) | 5.81% | 03/18/24 | 7,000,000 | 6,915,248 | ||
(b)(c) | 5.82% | 04/10/24 | 2,000,000 | 1,968,887 | ||
(b)(c) | 5.74% | 05/24/24 | 1,000,000 | 978,177 | ||
SHEFFIELD RECEIVABLES COMPANY LLC | ||||||
(b)(c) | 5.84% | 03/04/24 | 10,000,000 | 9,899,295 | ||
(b)(c) | 5.60% | 03/11/24 | 22,000,000 | 21,755,576 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(b)(c) | 5.79% | 03/18/24 | 18,000,000 | 17,781,400 | ||
(b)(c) | 5.80% | 03/21/24 | 2,000,000 | 1,974,828 | ||
STARBIRD FUNDING CORP | ||||||
(b)(c) | 5.76% | 02/01/24 | 3,000,000 | 2,984,780 | ||
(b)(c) | 5.82% | 02/28/24 | 2,000,000 | 1,981,646 | ||
(b)(c) | 5.77% | 05/07/24 | 49,000,000 | 48,052,640 | ||
VERSAILLES COMMERCIAL PAPER LLC | (b)(c) | 5.51% | 04/09/24 | 5,000,000 | 4,923,027 | |
VICTORY RECEIVABLES CORP | ||||||
(b)(c) | 5.34% | 01/02/24 | 2,000,000 | 1,998,816 | ||
(b)(c) | 5.61% | 02/16/24 | 1,000,000 | 992,626 | ||
(b)(c) | 5.79% | 02/20/24 | 3,000,000 | 2,975,997 | ||
(b)(c) | 5.77% | 02/26/24 | 7,000,000 | 6,937,354 | ||
(b)(c) | 5.54% | 03/11/24 | 2,045,000 | 2,022,356 | ||
Total Asset-Backed Commercial Paper (Cost $432,112,798) | 432,067,529 | |||||
FINANCIAL COMPANY COMMERCIAL PAPER 15.3% OF NET ASSETS | ||||||
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD | ||||||
(c) | 5.66% | 05/16/24 | 4,000,000 | 3,918,147 | ||
(c) | 5.66% | 05/17/24 | 2,000,000 | 1,958,799 | ||
BANK OF MONTREAL | ||||||
(c) | 5.75% | 01/23/24 | 50,000,000 | 49,814,294 | ||
(c) | 5.78% | 02/01/24 | 5,000,000 | 4,974,634 | ||
(SOFR + 0.40%) | (a)(c) | 5.80% | 01/02/24 | 02/28/24 | 30,000,000 | 30,013,958 |
(c) | 5.80% | 04/11/24 | 5,000,000 | 4,923,132 | ||
(c) | 5.82% | 05/09/24 | 16,000,000 | 15,690,533 | ||
(c) | 5.65% | 06/12/24 | 6,000,000 | 5,855,626 | ||
BANK OF NOVA SCOTIA | (c) | 5.93% | 04/12/24 | 23,000,000 | 22,641,171 | |
BARCLAYS BANK UK PLC | ||||||
(c) | 5.33% | 01/03/24 | 11,000,000 | 10,991,896 | ||
(c) | 5.33% | 01/04/24 | 7,000,000 | 6,993,802 | ||
BOFA SECURITIES INC | ||||||
(c) | 5.82% | 02/15/24 | 7,000,000 | 6,949,441 | ||
(c) | 5.96% | 04/19/24 | 5,000,000 | 4,915,905 | ||
(SOFR + 0.54%) | (a)(c) | 5.94% | 01/02/24 | 04/22/24 | 10,000,000 | 10,009,751 |
(c) | 5.87% | 04/30/24 | 11,000,000 | 10,797,749 | ||
(SOFR + 0.52%) | (a)(c) | 5.92% | 01/02/24 | 05/13/24 | 20,000,000 | 20,018,076 |
(c) | 5.63% | 09/04/24 | 13,000,000 | 12,534,197 | ||
BPCE SA | ||||||
(c) | 5.83% | 02/15/24 | 20,000,000 | 19,856,933 | ||
(c) | 5.87% | 04/02/24 | 5,000,000 | 4,928,992 | ||
(c) | 5.83% | 04/05/24 | 10,150,000 | 10,001,191 | ||
(c) | 5.83% | 04/12/24 | 10,000,000 | 9,842,646 | ||
(c) | 5.86% | 04/18/24 | 12,000,000 | 11,800,533 | ||
(c) | 5.86% | 05/02/24 | 7,000,000 | 6,869,358 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
(c) | 5.83% | 05/06/24 | 1,000,000 | 980,768 | ||
(c) | 5.65% | 05/08/24 | 4,000,000 | 3,921,939 | ||
(c) | 5.79% | 05/13/24 | 1,000,000 | 979,778 | ||
CITIGROUP GLOBAL MARKETS INC | ||||||
(c) | 5.79% | 03/22/24 | 8,000,000 | 7,898,360 | ||
(c) | 5.80% | 03/27/24 | 11,000,000 | 10,851,926 | ||
(c) | 5.85% | 04/05/24 | 23,000,000 | 22,658,181 | ||
(c) | 5.61% | 06/06/24 | 13,000,000 | 12,694,760 | ||
DNB BANK ASA | (c) | 5.80% | 04/18/24 | 7,000,000 | 6,885,841 | |
FEDERATION DES CAISSES DESJARDINS DU QUEBEC | ||||||
(c) | 5.77% | 01/18/24 | 10,000,000 | 9,970,386 | ||
(c) | 5.74% | 02/14/24 | 30,000,000 | 29,788,370 | ||
(c) | 5.77% | 03/07/24 | 4,000,000 | 3,958,385 | ||
ING US FUNDING LLC | (b) | 5.79% | 03/01/24 | 6,000,000 | 5,943,237 | |
JP MORGAN SECURITIES LLC | ||||||
(c) | 5.97% | 04/22/24 | 2,000,000 | 2,001,066 | ||
(c) | 5.93% | 07/11/24 | 7,000,000 | 7,015,230 | ||
(c) | 5.55% | 07/15/24 | 14,000,000 | 14,006,799 | ||
(c) | 5.93% | 07/15/24 | 6,000,000 | 6,013,301 | ||
MIZUHO BANK LTD (SINGAPORE BRANCH) | (c) | 5.49% | 04/09/24 | 1,500,000 | 1,476,979 | |
MUFG BANK LTD (NEW YORK BRANCH) | 5.36% | 01/02/24 | 1,000,000 | 999,407 | ||
NATIONAL BANK OF CANADA | ||||||
(c) | 5.78% | 02/01/24 | 25,000,000 | 24,873,877 | ||
(SOFR + 0.38%) | (a)(c) | 5.78% | 01/02/24 | 03/01/24 | 20,000,000 | 20,009,467 |
(c) | 5.80% | 04/01/24 | 6,000,000 | 5,915,146 | ||
NORDEA BANK ABP | ||||||
(SOFR + 0.34%) | (a)(c) | 5.74% | 01/02/24 | 02/21/24 | 10,000,000 | 10,003,405 |
OVERSEA-CHINESE BANKING CORPORATION LTD | ||||||
(c) | 5.61% | 03/07/24 | 10,000,000 | 9,896,153 | ||
(c) | 5.60% | 03/14/24 | 2,000,000 | 1,977,176 | ||
(c) | 5.60% | 03/15/24 | 5,000,000 | 4,942,208 | ||
(c) | 5.77% | 05/14/24 | 6,000,000 | 5,876,721 | ||
ROYAL BANK OF CANADA | ||||||
(SOFR + 0.64%) | (a)(c) | 6.04% | 01/02/24 | 07/05/24 | 10,000,000 | 10,018,087 |
SKANDINAVISKA ENSKILDA BANKEN AB | ||||||
(SOFR + 0.38%) | (a)(c) | 5.77% | 01/02/24 | 03/04/24 | 6,000,000 | 6,002,973 |
(SOFR + 0.35%) | (a)(c) | 5.74% | 01/02/24 | 04/05/24 | 11,000,000 | 11,006,889 |
(SOFR + 0.51%) | (a)(c) | 5.90% | 01/02/24 | 04/24/24 | 7,000,000 | 7,007,283 |
(c) | 5.88% | 04/29/24 | 11,000,000 | 10,799,861 | ||
(c) | 5.75% | 05/06/24 | 10,000,000 | 9,807,256 | ||
(SOFR + 0.48%) | (a)(c) | 5.87% | 01/02/24 | 05/10/24 | 15,000,000 | 15,012,918 |
(c) | 5.87% | 07/03/24 | 11,000,000 | 10,701,358 | ||
(c) | 5.79% | 08/08/24 | 10,000,000 | 9,681,174 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
SVENSKA HANDELSBANKEN AB | ||||||
(c) | 5.76% | 01/23/24 | 11,000,000 | 10,959,693 | ||
(c) | 5.74% | 02/14/24 | 23,000,000 | 22,841,832 | ||
(c) | 5.67% | 05/28/24 | 63,000,000 | 61,597,000 | ||
SWEDBANK AB | ||||||
5.76% | 02/05/24 | 9,000,000 | 8,949,929 | |||
5.81% | 03/14/24 | 2,000,000 | 1,977,601 | |||
5.76% | 05/10/24 | 10,000,000 | 9,805,898 | |||
5.74% | 05/16/24 | 3,000,000 | 2,939,330 | |||
TORONTO-DOMINION BANK/THE | ||||||
(SOFR + 0.58%) | (a)(c) | 5.97% | 01/02/24 | 01/09/24 | 14,000,000 | 14,001,877 |
(c) | 5.55% | 09/05/24 | 5,000,000 | 4,823,069 | ||
UBS AG (LONDON BRANCH) | ||||||
(SOFR + 0.45%) | (a)(c) | 5.84% | 01/02/24 | 02/09/24 | 12,000,000 | 12,003,530 |
(SOFR + 0.43%) | (a)(c) | 5.82% | 01/02/24 | 02/23/24 | 10,000,000 | 10,003,205 |
(SOFR + 0.42%) | (a)(c) | 5.81% | 01/02/24 | 02/28/24 | 10,000,000 | 10,003,154 |
(c) | 5.84% | 04/05/24 | 10,000,000 | 9,851,837 | ||
(c) | 5.84% | 05/02/24 | 35,000,000 | 34,342,494 | ||
(c) | 5.78% | 05/14/24 | 50,000,000 | 48,974,035 | ||
(c) | 5.65% | 06/17/24 | 5,000,000 | 4,873,363 | ||
UNITED OVERSEAS BANK LTD | ||||||
(SOFR + 0.34%) | (a)(c) | 5.73% | 01/02/24 | 02/28/24 | 6,000,000 | 6,002,655 |
Total Financial Company Commercial Paper (Cost $881,621,716) | 881,827,931 | |||||
NON-FINANCIAL COMPANY COMMERCIAL PAPER 0.1% OF NET ASSETS | ||||||
EQUINOR ASA | ||||||
(c) | 5.35% | 01/04/24 | 3,000,000 | 2,997,329 | ||
UNITEDHEALTH GROUP INC | ||||||
(c) | 5.31% | 01/02/24 | 2,000,000 | 1,998,819 | ||
Total Non-Financial Company Commercial Paper (Cost $4,999,110) | 4,996,148 | |||||
NON-NEGOTIABLE TIME DEPOSITS 8.1% OF NET ASSETS | ||||||
ABN AMRO BANK NV | ||||||
5.33% | 01/04/24 | 6,000,000 | 6,000,000 | |||
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH) | ||||||
5.31% | 01/02/24 | 13,000,000 | 13,000,000 | |||
5.32% | 01/03/24 | 32,000,000 | 32,000,000 | |||
5.32% | 01/04/24 | 43,000,000 | 43,000,000 | |||
5.32% | 01/05/24 | 64,000,000 | 64,000,000 | |||
BANCO SANTANDER SA (NEW YORK BRANCH) | ||||||
5.33% | 01/02/24 | 28,000,000 | 28,000,000 | |||
5.33% | 01/04/24 | 29,000,000 | 29,000,000 | |||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
5.31% | 01/02/24 | 41,000,000 | 41,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
CREDIT INDUSTRIEL ET COMMERCIAL | ||||||
5.33% | 01/03/24 | 11,000,000 | 11,000,000 | |||
5.33% | 01/04/24 | 11,000,000 | 11,000,000 | |||
5.33% | 01/05/24 | 10,000,000 | 10,000,000 | |||
DBS BANK LTD | ||||||
5.34% | 01/03/24 | 15,000,000 | 15,000,000 | |||
5.34% | 01/04/24 | 6,000,000 | 6,000,000 | |||
LANDESBANK HESSEN THUERINGEN GIROZENTRALE (NEW YORK BRANCH) | ||||||
5.33% | 01/02/24 | 9,000,000 | 9,000,000 | |||
5.33% | 01/03/24 | 5,000,000 | 5,000,000 | |||
ROYAL BANK OF CANADA | ||||||
5.32% | 01/03/24 | 45,000,000 | 45,000,000 | |||
5.32% | 01/04/24 | 2,000,000 | 2,000,000 | |||
SANTANDER UK PLC | ||||||
5.31% | 01/03/24 | 14,000,000 | 14,000,000 | |||
5.31% | 01/04/24 | 12,000,000 | 12,000,000 | |||
5.31% | 01/05/24 | 31,000,000 | 31,000,000 | |||
SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH) | ||||||
5.31% | 01/02/24 | 6,000,000 | 6,000,000 | |||
TORONTO-DOMINION BANK/THE | ||||||
5.32% | 01/04/24 | 11,000,000 | 11,000,000 | |||
5.32% | 01/05/24 | 21,000,000 | 21,000,000 | |||
UBS AG (CAYMAN ISLANDS BRANCH) | ||||||
5.31% | 01/02/24 | 3,000,000 | 3,000,000 | |||
Total Non-Negotiable Time Deposits (Cost $468,000,000) | 468,000,000 | |||||
VARIABLE RATE DEMAND NOTES 1.6% OF NET ASSETS | ||||||
BRECKENRIDGE TERRACE, LLC | ||||||
HOUSING FACILITIES REVENUE NOTES SERIES 1999B (LOC: BANK OF AMERICA NA) | (d) | 5.56% | 01/05/24 | 1,000,000 | 1,000,000 | |
CELLMARK, INC | ||||||
TAXABLE NOTES SERIES 2018A (LOC: SWEDBANK AB) | (d) | 5.45% | 01/05/24 | 4,000,000 | 4,000,000 | |
COLORADO HOUSING & FINANCE AUTH | ||||||
S/F MORTGAGE BONDS CLASS II SERIES 2023A2 (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 10,000,000 | 10,000,000 | |
S/F MORTGAGE CLASS I BONDS SERIES 2023N2 (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 1,000,000 | 1,000,000 | |
S/F MORTGAGE CLASS II RB SERIES 2023F2 (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 590,000 | 590,000 | |
CONNECTICUT DEVELOPMENT AUTH | ||||||
RB (BRADLEY AIRPORT HOTEL) SERIES 2006B (LOC: TD BANK NA) | (d) | 5.66% | 01/05/24 | 3,590,000 | 3,590,000 | |
CYNTHIA REESE ISSUING TRUST | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2023 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.45% | 01/05/24 | 1,000,000 | 1,000,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
FIORE CAPITAL | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2005A (LOC: WELLS FARGO BANK NA) | (d) | 5.45% | 01/05/24 | 895,000 | 895,000 | |
GREYSHOE ISSUING TRUST | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.45% | 01/05/24 | 1,000,000 | 1,000,000 | |
HARTFORD HEALTHCARE CORP | ||||||
TAXABLE BONDS SERIES C (LOC: JPMORGAN CHASE BANK NA) | (d) | 5.35% | 01/05/24 | 1,000,000 | 1,000,000 | |
ILLINOIS HOUSING DEVELOPMENT AUTH | ||||||
HOUSING BONDS SERIES 2017A2 (LIQ: FEDERAL HOME LOAN BANKS) | (d) | 5.36% | 01/05/24 | 1,000,000 | 1,000,000 | |
TAXABLE RB SERIES 2023J (LIQ: ROYAL BANK OF CANADA) | (d) | 5.35% | 01/05/24 | 500,000 | 500,000 | |
J MACE MEEKS 2022 INSURANCE TRUST | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.45% | 01/05/24 | 4,970,000 | 4,970,000 | |
JEFFERSON MENIFEE LLC | ||||||
TAXABLE VARIABLE RATE DEMAND M/F HOUSING RB (JEFFERSON MENIFEE APTS) SERIES 2022A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.46% | 01/05/24 | 150,000 | 150,000 | |
KEEP MEMORY ALIVE | ||||||
TAXABLE VARIABLE RATE DEMAND BONDS SERIES 2013 (LOC: PNC BANK NA) | (d) | 5.38% | 01/05/24 | 950,000 | 950,000 | |
LABCON NORTH AMERICA | ||||||
TAXABLE BONDS SERIES 2010 (LOC: BANK OF MONTREAL) | (d) | 5.50% | 01/05/24 | 955,000 | 955,000 | |
MOUNTAIN BANYAN QUALIFIED OPPORTUNITY ZONE BUSINESS LLC | ||||||
TAXABLE M/F HOUSING RB SERIES 2023A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.46% | 01/05/24 | 1,000,000 | 1,000,000 | |
NEW YORK STATE HFA | ||||||
TAXABLE HOUSING RB (29 FLATBUSH AVE) SERIES 2015B (LOC: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) | (d) | 5.35% | 01/05/24 | 1,530,000 | 1,530,000 | |
NORTH TEXAS HIGHER EDUCATION AUTH INC | ||||||
TAXABLE NOTES SERIES 2023-1 (LOC: ROYAL BANK OF CANADA) | (d) | 5.38% | 01/05/24 | 1,000,000 | 1,000,000 | |
NUVEEN CREDIT STRATEGIES INCOME FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SOCIETE GENERALE SA) | (c)(d) | 5.53% | 01/05/24 | 1,000,000 | 1,000,000 | |
NUVEEN FLOATING RATE INCOME FUND | ||||||
VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (c)(d) | 5.53% | 01/05/24 | 1,000,000 | 1,000,000 | |
VARIABLE RATE DEMAND PREFERRED SHARES SERIES C (LOC: BARCLAYS BANK PLC) | (c)(d) | 5.53% | 01/05/24 | 5,000,000 | 5,000,000 | |
NUVEEN PREFERRED & INCOME OPPORTUNITIES FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: SUMITOMO MITSUI BANKING CORPORATION) | (c)(d) | 5.50% | 01/05/24 | 1,500,000 | 1,500,000 | |
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES B (LOC: BARCLAYS BANK PLC) | (c)(d) | 5.53% | 01/04/24 | 3,000,000 | 3,000,000 | |
NUVEEN VARIABLE RATE PREFERRED & INCOME FUND | ||||||
TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES SERIES A (LOC: TORONTO-DOMINION BANK/THE) | (c)(d) | 5.57% | 01/05/24 | 1,250,000 | 1,250,000 |
Issuer | Footnotes | Rate | Effective Maturity | Maturity Date | Face Amount ($) | Value ($) |
PHILIP BRYAN WISE 2022 TRUST IRREVOCABLE | ||||||
TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.45% | 01/05/24 | 5,410,000 | 5,410,000 | |
SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT | ||||||
SUB WATER REFUNDING RB SERIES 2021A (LIQ: BANK OF AMERICA NA) | (d) | 5.36% | 01/05/24 | 24,000,000 | 24,000,000 | |
TAXABLE WATER REFUNDING RB SERIES 2022C2 (LIQ: PNC BANK NA) | (d) | 5.33% | 01/05/24 | 12,250,000 | 12,250,000 | |
SRMHAYWARD LLC | ||||||
TAXABLE VARIABLE RATE DEMAND RB (BELLARA SR LIVING) SERIES 2022A (LOC: FEDERAL HOME LOAN BANKS) | (d) | 5.46% | 01/05/24 | 110,000 | 110,000 | |
TRIBOROUGH BRIDGE & TUNNEL AUTH | ||||||
GENERAL REFUNDING RB SERIES 2018E (LOC: UBS AG) | (d) | 5.35% | 01/05/24 | 2,000,000 | 2,000,000 | |
YAVAPAI CNTY IDA | ||||||
TAXABLE RB (DRAKE CEMENT) SERIES 2015 (LOC: BANK OF NOVA SCOTIA) | (d) | 5.40% | 01/05/24 | 1,000,000 | 1,000,000 | |
Total Variable Rate Demand Notes (Cost $93,650,000) | 93,650,000 | |||||
OTHER INSTRUMENTS 0.1% OF NET ASSETS | ||||||
BANK OF AMERICA NA | ||||||
(SOFR + 0.60%) | (a) | 5.99% | 01/02/24 | 08/05/24 | 4,000,000 | 4,006,685 |
Total Other Instruments (Cost $4,000,000) | 4,006,685 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
REPURCHASE AGREEMENTS 41.7% OF NET ASSETS | ||||||
U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS* 18.3% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 9,005,330 | 9,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $9,270,000, 2.00% - 7.50%, due 09/01/30 - 11/01/53) | ||||||
BANK OF MONTREAL | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 17,010,087 | 17,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $17,520,389, 3.00%, due 04/20/52) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 11,006,527 | 11,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $11,336,723, 5.50%, due 06/20/53) | ||||||
BOFA SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 5,002,972 | 5,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $5,150,000, 2.50% - 5.75%, due 01/15/43 - 01/20/52) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 33,019,617 | 33,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $33,660,074, 3.13% - 6.25%, due 05/31/28 - 05/15/48) | ||||||
Issued 11/02/23, repurchase date 01/02/24 | 5.40% | 01/02/24 | 61,558,150 | 61,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $62,263,228, 0.88% - 6.08%, due 05/31/24 - 03/20/72) | ||||||
Issued 10/26/23, repurchase date 01/25/24 | 5.43% | 01/05/24 | 8,085,673 | 8,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $8,225,268, 3.00% - 6.44%, due 09/30/25 - 03/20/66) | ||||||
Issued 09/28/23, repurchase date 02/28/24 | (a) | 5.47% | 01/02/24 | 01/05/24 | 9,135,383 | 9,000,000 |
(Collateralized by U.S. Treasury Securities valued at $9,180,067, 4.00% - 6.75%, due 08/15/26 - 02/29/28) (SOFR + 0.07%) | ||||||
CANADIAN IMPERIAL BANK OF COMMERCE | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 7,004,153 | 7,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $7,210,000, 2.07% - 6.50%, due 06/01/36 - 06/20/53) | ||||||
Issued 11/30/23, repurchase date 02/29/24 | 5.34% | 01/05/24 | 2,010,680 | 2,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $2,060,000, 2.50% - 6.50%, due 06/20/50 - 12/01/53) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.34% | 01/05/24 | 17,055,477 | 17,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $17,510,000, 1.50% - 6.50%, due 06/01/28 - 10/01/53) | ||||||
Issued 11/20/23, repurchase date 01/22/24 | 5.36% | 01/05/24 | 11,075,338 | 11,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $11,330,000, 2.50% - 6.50%, due 11/20/50 - 09/01/53) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/05/23, repurchase date 01/04/24 | 5.38% | 01/04/24 | 76,340,733 | 76,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $79,273,813, 2.88% - 6.84%, due 08/15/28 - 04/20/71) | ||||||
DAIWA CAPITAL MARKETS AMERICA INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 28,016,613 | 28,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $29,071,463, 0.88% - 6.00%, due 06/30/28 - 12/01/53) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 98,058,147 | 98,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $100,940,000, 1.50% - 6.00%, due 05/01/38 - 06/01/53) | ||||||
GOLDMAN SACHS & CO LLC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 11,011,379 | 11,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $11,220,000, 2.50% - 7.00%, due 11/01/33 - 08/20/53) | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.34% | 01/03/24 | 43,044,648 | 43,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $44,226,314, 2.50% - 6.53%, due 07/01/33 - 12/20/53) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/28/23, repurchase date 01/04/24 | 5.37% | 01/04/24 | 74,077,268 | 74,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $75,480,030, 1.50%, due 01/31/27) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.34% | 01/05/24 | 99,102,795 | 99,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $100,980,071, 4.25%, due 11/15/40) | ||||||
JP MORGAN SECURITIES LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 121,071,793 | 121,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $124,630,001, 1.50% - 7.50%, due 01/20/30 - 11/20/63) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 10,005,933 | 10,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $10,200,015, 3.63%, due 05/15/53) | ||||||
NOMURA SECURITIES INTERNATIONAL INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 9,005,340 | 9,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $9,191,022, 1.38% - 2.88%, due 12/31/24 - 08/15/32) | ||||||
RBC DOMINION SECURITIES INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.34% | 01/02/24 | 67,039,753 | 67,000,000 | ||
(Collateralized by U.S. Treasury and U.S. Government Agency Securities valued at $68,482,327, 0.50% - 7.00%, due 11/30/24 - 12/01/53) | ||||||
Issued 12/14/23, repurchase date 02/01/24 | 5.33% | 01/05/24 | 5,016,286 | 5,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $5,187,362, 2.50% - 6.00%, due 05/25/50 - 02/20/53) | ||||||
ROYAL BANK OF CANADA | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 13,042,503 | 13,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $13,585,011, 5.50% - 7.00%, due 06/20/53 - 12/01/53) | ||||||
Issued 12/14/23, repurchase date 03/21/24 | 5.35% | 01/05/24 | 150,490,417 | 150,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $156,750,121, 1.71% - 7.00%, due 01/25/29 - 12/01/53) | ||||||
TRUIST BANK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 26,015,369 | 26,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $27,040,000, 1.00% - 1.25%, due 09/20/50 - 11/20/50) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 11/03/23, repurchase date 01/03/24 | 5.37% | 01/03/24 | 31,282,074 | 31,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $32,533,357, 3.00% - 7.00%, due 09/01/49 - 12/01/53) | ||||||
Issued 12/08/23, repurchase date 01/12/24 | 5.34% | 01/05/24 | 3,012,460 | 3,000,000 | ||
(Collateralized by U.S. Government Agency Securities valued at $3,136,199, 5.00%, due 10/01/53) | ||||||
1,054,000,000 |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
U.S. TREASURY REPURCHASE AGREEMENTS 19.2% | ||||||
BANCO SANTANDER SA | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.31% | 01/02/24 | 7,004,130 | 7,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $7,140,005, 0.25% - 4.50%, due 01/15/25 - 05/15/52) | ||||||
BARCLAYS BANK PLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 9,005,320 | 9,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $9,185,473, 0.00%, due 01/11/24 - 04/25/24) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 1,834,415 | 1,833,329 | ||
(Collateralized by U.S. Treasury Securities valued at $1,871,197, 0.00%, due 04/25/24) | ||||||
Issued 12/14/23, repurchase date 02/02/24 | 5.32% | 01/05/24 | 22,071,524 | 22,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $22,605,893, 0.00%, due 01/04/24) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 12/26/23, repurchase date 01/02/24 | 5.32% | 01/02/24 | 87,089,997 | 87,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $88,740,451, 0.13% - 4.00%, due 11/30/29 - 02/28/30) | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 102,060,407 | 102,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $104,144,790, 1.25% - 3.63%, due 03/31/28 - 04/30/28) | ||||||
FEDERAL RESERVE BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.30% | 01/02/24 | 790,465,222 | 790,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $790,465,298, 0.25% - 3.13%, due 05/15/24 - 02/15/31) | ||||||
FICC - BANK OF NEW YORK | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.33% | 01/02/24 | 58,034,349 | 58,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $59,160,081, 2.75%, due 04/30/27) | ||||||
MUFG SECURITIES AMERICAS INC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.35% | 01/02/24 | 29,017,239 | 29,000,000 | ||
(Collateralized by U.S. Treasury Securities valued at $29,580,039, 0.13% - 3.13%, due 07/15/31 - 02/15/43) | ||||||
1,105,833,329 | ||||||
OTHER REPURCHASE AGREEMENTS** 4.2% | ||||||
BMO CAPITAL MARKETS CORP | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.41% | 01/05/24 | 2,002,104 | 2,000,000 | ||
(Collateralized by U.S. Government Agency Securities, common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $2,102,330, 0.90% - 8.63%, due 03/25/24 - 07/15/51) | ||||||
BNP PARIBAS SA | ||||||
Issued 12/27/23, repurchase date 01/03/24 | 5.42% | 01/03/24 | 23,024,239 | 22,999,804 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $24,175,882, 1.83% - 6.38%, due 07/16/25 - 12/31/00) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/27/23, repurchase date 01/03/24 | 5.47% | 01/03/24 | 10,010,636 | 9,999,857 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $11,512,232, 7.85% - 11.19%, due 07/25/33 - 10/24/34) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.47% | 01/05/24 | 7,007,445 | 7,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $8,147,216, 3.66% - 12.75%, due 09/08/24 - 02/15/28) | ||||||
Issued 12/06/23, repurchase date 03/05/24 | 5.63% | 02/02/24 | 3,027,212 | 2,999,066 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $3,499,094, 6.00% - 14.34%, due 10/25/33 - 12/31/00) | ||||||
Issued 12/27/23, repurchase date 03/26/24 | 5.67% | 02/02/24 | 3,017,483 | 2,999,213 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $3,499,535, 5.70% - 8.00%, due 06/25/37 - 12/31/00) | ||||||
BOFA SECURITIES INC | ||||||
Issued 12/18/23, repurchase date 04/16/24 | (a) | 5.90% | 01/02/24 | 03/28/24 | 5,082,764 | 5,001,670 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $5,400,001, 0.00%, due 12/31/00) (SOFR + 0.50%) | ||||||
Issued 12/18/23, repurchase date 04/16/24 | (a) | 5.95% | 01/02/24 | 04/02/24 | 31,543,103 | 30,991,215 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $35,650,000, 0.00% - 12.43%, due 04/18/27 - 11/25/61) (SOFR + 0.55%) | ||||||
CITIGROUP GLOBAL MARKETS INC | ||||||
Issued 10/12/23, repurchase date 01/12/24 | (a) | 5.57% | 01/02/24 | 01/05/24 | 4,052,606 | 3,999,922 |
(Collateralized by U.S. Treasury Securities, common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $4,080,091, 0.00% - 4.75%, due 02/15/40 - 12/31/00) (SOFR + 0.17%) | ||||||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.37% | 01/04/24 | 2,002,088 | 1,999,962 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $2,102,603, 0.79% - 5.13%, due 01/22/25 - 04/01/46) | ||||||
Issued 12/29/23, repurchase date 01/05/24 | 5.37% | 01/05/24 | 11,011,486 | 11,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $11,575,422, 3.20% - 8.00%, due 09/16/24 - 12/31/00) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
JP MORGAN SECURITIES LLC | ||||||
Issued 11/20/23, repurchase date 01/19/24 | (a) | 5.62% | 01/02/24 | 01/05/24 | 17,122,079 | 16,999,251 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $19,667,961, 2.25% - 10.50%, due 06/01/27 - 08/09/47) (SOFR + 0.22%) | ||||||
Issued 11/08/23, repurchase date 05/06/24 | (a) | 5.85% | 01/02/24 | 03/28/24 | 21,481,163 | 20,987,472 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $24,347,461, 2.56% - 13.66%, due 06/08/27 - 03/17/53) (SOFR + 0.45%) | ||||||
Issued 12/27/23, repurchase date 06/24/24 | (a) | 5.87% | 01/02/24 | 03/28/24 | 10,150,011 | 9,996,425 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $11,503,733, 7.59%, due 10/25/34) (SOFR + 0.47%) | ||||||
Issued 10/25/23, repurchase date 05/02/24 | (a) | 5.88% | 01/02/24 | 03/28/24 | 4,101,267 | 3,997,587 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $4,648,180, 5.83% - 11.50%, due 04/15/26 - 03/25/54) (SOFR + 0.48%) | ||||||
Issued 10/05/23, repurchase date 04/02/24 | (a) | 5.90% | 01/02/24 | 03/28/24 | 32,917,778 | 31,982,071 |
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $37,306,035, 5.67%, due 12/16/30) (SOFR + 0.50%) | ||||||
MIZUHO SECURITIES USA LLC | ||||||
Issued 12/29/23, repurchase date 01/02/24 | 5.42% | 01/02/24 | 3,001,807 | 3,000,000 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations valued at $3,240,007, 0.00%, due 12/31/00) | ||||||
RBC CAPITAL MARKETS LLC | ||||||
Issued 12/28/23, repurchase date 01/04/24 | 5.42% | 01/04/24 | 17,017,916 | 16,999,743 | ||
(Collateralized by U.S. Treasury Securities, common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $17,868,236, 2.36% - 6.85%, due 11/15/24 - 06/01/77) | ||||||
WELLS FARGO SECURITIES LLC | ||||||
Issued 12/07/23, repurchase date 03/07/24 | 5.72% | 03/07/24 | 5,072,294 | 4,997,525 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $5,833,363, 1.90%, due 03/20/25) | ||||||
Issued 11/22/23, repurchase date 03/21/24 | 5.78% | 03/21/24 | 7,134,867 | 6,996,483 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $8,205,366, 0.90% - 8.18%, due 03/20/25 - 06/15/39) |
ISSUER | FOOTNOTES | RATE | EFFECTIVE MATURITY | MATURITY DATE | MATURITY AMOUNT ($) | VALUE ($) |
Issued 12/05/23, repurchase date 06/03/24 | 5.99% | 04/02/24 | 7,138,602 | 6,999,976 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $8,292,437, 3.87% - 10.23%, due 12/15/36 - 10/25/57) | ||||||
Issued 10/11/23, repurchase date 04/08/24 | 6.05% | 04/02/24 | 5,146,208 | 4,999,978 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $5,923,938, 3.93% - 12.79%, due 07/15/32 - 10/25/57) | ||||||
Issued 12/27/23, repurchase date 06/21/24 | 5.85% | 06/21/24 | 13,373,913 | 13,029,145 | ||
(Collateralized by common stocks, ETFs, corporate bonds, asset backed securities, or non-agency collateralized mortgage obligations valued at $14,043,454, 2.25% - 8.19%, due 10/29/27 - 12/31/79) | ||||||
241,976,365 | ||||||
Total Repurchase Agreements (Cost $2,401,833,329) | 2,401,809,694 | |||||
Total Investments in Securities (Cost $5,542,208,375) | 5,543,509,529 |
* | 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 $1,264,107,750 or 21.9% 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. |
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. |
ETF — | Exchange-traded fund |
FICC — | Fixed Income Clearing Corp |
HFA — | Housing finance agency/authority |
IDA — | Industrial development agency/authority |
LIQ — | Liquidity agreement |
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. |
VRDN — | Variable rate demand note |
Assets | ||
Investments in securities, at value - unaffiliated (cost $3,140,375,046) | $3,141,699,835 | |
Repurchase agreements, at value - unaffiliated (cost $2,401,833,329) | 2,401,809,694 | |
Cash | 186,027,507 | |
Receivables: | ||
Fund shares sold | 56,637,958 | |
Interest | 20,811,298 | |
Prepaid expenses | + | 161,410 |
Total assets | 5,807,147,702 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 33,047,591 | |
Distributions to shareholders | 9,929,403 | |
Investment adviser and administrator fees | 837,531 | |
Investments bought | 260,000 | |
Independent trustees’ fees | 140 | |
Accrued expenses | + | 203,062 |
Total liabilities | 44,277,727 | |
Net assets | $5,762,869,975 | |
Net Assets by Source | ||
Capital received from investors | $5,761,708,992 | |
Total distributable earnings | + | 1,160,983 |
Net assets | $5,762,869,975 |
Net Asset Value (NAV) by Share Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Ultra Shares | $5,762,869,975 | 5,760,166,147 | $1.0005 | ||
For the period January 1, 2023 through December 31, 2023 | ||
Investment Income | ||
Interest received from securities - unaffiliated | $270,411,688 | |
Expenses | ||
Investment adviser and administrator fees | 9,766,702 | |
Registration fees | 360,467 | |
Custodian fees | 117,915 | |
Portfolio accounting fees | 110,059 | |
Professional fees | 49,297 | |
Independent trustees’ fees | 44,447 | |
Shareholder reports | 18,477 | |
Transfer agent fees | 650 | |
Other expenses | + | 30,454 |
Total expenses | 10,498,468 | |
Expense reduction | – | 731,727 |
Net expenses | – | 9,766,741 |
Net investment income | 260,644,947 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 50,452 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | 701,700 |
Net realized and unrealized gains | 752,152 | |
Increase in net assets resulting from operations | $261,397,099 |
OPERATIONS | |||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||
Net investment income | $260,644,947 | $65,187,723 | |
Net realized gains | 50,452 | 59 | |
Net change in unrealized appreciation (depreciation) | + | 701,700 | 666,153 |
Increase in net assets from operations | $261,397,099 | $65,853,935 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Ultra Shares | ($260,617,440 ) | ($65,187,807 ) |
TRANSACTIONS IN FUND SHARES | |||||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares Sold | |||||
Ultra Shares | 9,572,001,472 | $9,574,709,689 | 7,264,457,488 | $7,265,359,260 | |
Shares Reinvested | |||||
Ultra Shares | 199,735,044 | 199,794,794 | 51,928,344 | 51,938,149 | |
Shares Redeemed | |||||
Ultra Shares | + | (8,887,970,807 ) | (8,890,462,883 ) | (5,132,357,237 ) | (5,133,058,389 ) |
Net transactions in fund shares | 883,765,709 | $884,041,600 | 2,184,028,595 | $2,184,239,020 | |
SHARES OUTSTANDING AND NET ASSETS | |||||
1/1/23-12/31/23 | 1/1/22-12/31/22 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 4,876,400,438 | $4,878,048,716 | 2,692,371,843 | $2,693,143,568 | |
Total increase | + | 883,765,709 | 884,821,259 | 2,184,028,595 | 2,184,905,148 |
End of period | 5,760,166,147 | $5,762,869,975 | 4,876,400,438 | $4,878,048,716 |
THE CHARLES SCHWAB FAMILY OF FUNDS | |
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 |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab Balanced Fund | 0.3 % |
Schwab MarketTrack Balanced Portfolio | 0.3 % |
Schwab MarketTrack Conservative Portfolio | 0.1 % |
Schwab MarketTrack Growth Portfolio | 0.5 % |
Schwab Monthly Income Fund - Flexible Payout | 0.0 %* |
Schwab Monthly Income Fund - Income Payout | 0.0 %* |
Schwab Monthly Income Fund - Target Payout | 0.0 %* |
Schwab Target 2010 Fund | 0.0 %* |
Schwab Target 2015 Fund | 0.0 %* |
Schwab Target 2020 Fund | 0.2 % |
Schwab Target 2025 Fund | 0.2 % |
Schwab Target 2030 Fund | 0.3 % |
Schwab Target 2035 Fund | 0.1 % |
Schwab Target 2040 Fund | 0.1 % |
Schwab Target 2045 Fund | 0.0 %* |
Schwab Target 2050 Fund | 0.0 %* |
Schwab Target 2010 Index Fund | 0.0 %* |
Schwab Target 2015 Index Fund | 0.0 %* |
Schwab Target 2020 Index Fund | 0.1 % |
Schwab Target 2025 Index Fund | 0.2 % |
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 | 0.0 %* |
Schwab VIT Balanced with Growth Portfolio | 0.1 % |
Schwab VIT Growth Portfolio | 0.1 % |
* | Less than 0.05% |
6. Borrowing from Banks:
7. Federal Income Taxes:
TAX COST | GROSS UNREALIZED APPRECIATION | GROSS UNREALIZED DEPRECIATION | NET UNREALIZED APPRECIATION (DEPRECIATION) | |
$5,542,208,375 | $1,555,072 | ($253,918 ) | $1,301,154 | |
UNDISTRIBUTED ORDINARY INCOME | NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS | CAPITAL LOSS CARRYFORWARDS AND OTHER LOSSES | TOTAL |
$27,507 | $1,301,154 | ($167,678 ) | $1,160,983 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | ORDINARY INCOME | |
$260,617,440 | $65,187,807 |
8. Subsequent Events:
Denver, Colorado
February 16, 2024
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 |
Michael J. Beer 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 2022) | Retired. Director, President and Chief Executive Officer (Dec. 2016 – Sept. 2019), Principal Funds (investment management). | 106 | Director (2016 – 2019), Principal Funds, Inc. |
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. | 106 | 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. | 106 | 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. | 106 | 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). | 106 | None |
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). | 106 | 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). | 106 | 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.; Co-Chairman of the Board (July 2022 – present) and Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Co-Chairman of the Board (July 2022 – present) and Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Co-Chairman of the Board (July 2022 – present) and 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.; Manager (Sept. 2023 – present), TD Ameritrade Holding LLC; Director (Oct. 2020 – Aug. 2023), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 106 | Director (2008 – present), The Charles Schwab Corporation |
Richard A. Wurster2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2022) | President (Oct. 2021 – present) and Executive Vice President – Schwab Asset Management Solutions (Apr. 2019 – Oct. 2021), The Charles Schwab Corporation; President, Director (Oct. 2021 – present), Executive Vice President – Schwab Asset Management Solutions (July 2019 – Oct. 2021) and Senior Vice President – Advisory (May 2016 – July 2019), Charles Schwab & Co., Inc.; President (Nov. 2021 – present), Schwab Holdings, Inc.; Director (Oct. 2021 – present) and Chief Executive Officer (Nov. 2019 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Mar. 2018 – Oct. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (July 2016 – Apr. 2018) and President (Mar. 2017 – Apr. 2018), ThomasPartners, Inc.; Chief Executive Officer (July 2016 – Apr. 2018), Windhaven Investment Management, Inc. | 106 | 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 |
Omar Aguilar 1970 Chief Executive Officer, 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), President (Oct. 2023 – present), (Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Jan. 2022), Charles Schwab Investment Management, Inc.; Director, Chief Executive Officer and President (Oct. 2022 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Sept. 2023 – present), President (Oct. 2023 – present), Chief Investment Officer (June 2011 – present) and Vice President (June 2011 – Sept. 2023), Schwab Funds, Laudus Trust and Schwab ETFs. |
Mark Fischer 1970 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) | Chief Operating Officer (Dec. 2020 – present) and Treasurer and Chief Financial Officer (Jan. 2016 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present), Chief Operating Officer (Oct. 2023 – present), Managing Director (Mar. 2023 – present) and Vice President (Oct. 2013 – Mar. 2023), Charles Schwab Investment Management, Inc. |
Dana Smith 1965 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2023) | Treasurer and Chief Financial Officer (Jan. 2023 – present) and Assistant Treasurer (Dec. 2015 – Dec. 2022), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Vice President (Mar. 2022 – Mar. 2023) and Director (Oct. 2015 – Mar. 2022), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Apr. 2022 – May 2022), Charles Schwab & Co., Inc. |
Patrick Cassidy 1964 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 2018) | Chief Investment Officer (Oct. 2023 – present) and Vice President (Feb. 2018 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Managing Director (Mar. 2023 – present), Chief Investment Officer (Oct. 2023 – present), and Senior Vice President (Oct. 2012 – Mar. 2023), Charles Schwab Investment Management, Inc. |
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) | Managing Director (Mar. 2023 – present), Senior Vice President (Jan. 2020 – Mar. 2023) 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), Managing Director (Mar. 2023 – present) and Vice President (Sept. 2005 – Mar. 2023), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (Aug. 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. |
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Item 2: Code of Ethics.
(a) | Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party. |
(c) | During the period covered by the report, no amendments were made to the provisions of this code of ethics. |
(d) | During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics. |
(f)(1) | Registrant has filed this code of ethics as an exhibit pursuant to Item 19(a)(1) of Form N-CSR. |
Item 3: Audit Committee Financial Expert.
Registrant’s Board of Trustees has determined that Kimberly S. Patmore, Michael J. Beer and J. Derek Penn, each currently serving on its audit, compliance and valuation committee, are each an “audit committee financial expert,” as such term is defined in Item 3 of Form N-CSR. Each member of Registrant’s audit, compliance and valuation committee is “independent” under the standards set forth in Item 3 of Form N-CSR.
The designation of each of Ms. Patmore, Mr. Beer and Mr. Penn as an “audit committee financial expert” pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant’s audit, compliance and valuation committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant’s audit, compliance and valuation committee or Board of Trustees.
Item 4: Principal Accountant Fees and Services.
(a) Below are the aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of Registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements.
The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:
(a) Audit Fees1 | (b) Audit-Related Fees | (c) Tax Fees2 | (d) All Other Fees | |||||||||||||||||||||||||||
Fiscal Year 2023 | Fiscal Year 2022 | Fiscal Year 2023 | Fiscal Year 2022 | Fiscal Year 2023 | Fiscal Year 2022 | Fiscal Year 2023 | Fiscal Year 2022 | |||||||||||||||||||||||
$363,580 | $ | 343,000 | $ | 0 | $ | 0 | $ | 32,850 | $ | 31,000 | $ | 0 | $ | 0 |
1 | The nature of the services includes audit of the registrant’s annual financial statements and normally provided services in connection with regulatory filings for those fiscal years. |
2 | The nature of the services includes tax compliance, tax advice and tax planning. |
(e) (1) | Registrant’s audit, compliance and valuation committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
(2) | There were no services described in each of paragraphs (b) through (d) above that were approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
(f) Not applicable.
(g) Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant’s principal accountant for services rendered to Registrant, to Registrant’s investment adviser, and to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant.
2023: $3,940,154 2022: $3,031,117
(h) During the past fiscal year, all non-audit services provided by Registrant’s principal accountant to either Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit, compliance and valuation committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence.
(i) Not applicable.
(j) Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
The schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
The financial statements and financial highlights are included as part of the report to shareholders filed under Item 1 of this Form.
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9: Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The remuneration paid to directors, officers and others are included as part of the report to shareholders filed under Item 1 of this Form.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.
Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 16: 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, Omar Aguilar and Registrant’s Chief Financial Officer, Dana Smith, 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 17: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18: Recovery of Erroneously Awarded Compensation.
(a) Not applicable.
(b) Not applicable.
Item 19: Exhibits.
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/ Omar Aguilar | |
Omar Aguilar Chief Executive Officer | ||
Date: | February 16, 2024 |
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/ Omar Aguilar | |
Omar Aguilar Chief Executive Officer | ||
Date: | February 16, 2024 | |
By: | /s/ Dana Smith | |
Dana Smith Chief Financial Officer | ||
Date: | February 16, 2024 |