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 811-06452
Fidelity Union Street Trust II
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | August 31 |
Date of reporting period: | August 31, 2022 |
Item 1.
Reports to Stockholders
![](https://capedge.com/proxy/N-CSR/0000880797-22-000083/img85509_1.jpg)
![](https://capedge.com/proxy/N-CSR/0000880797-22-000083/img85509_2.jpg)
Contents
Current 7-Day Yields | ||
Fidelity® Municipal Money Market Fund | 1.34% | |
Yield refers to the income paid by the Fund over a given period. Yield for money market funds is usually for seven-day periods, as it is here, though it is expressed as an annual percentage rate. Past performance is no guarantee of future results. Yield will vary and it's possible to lose money investing in the Fund. |
Effective Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 82.7 | |
8 - 30 | 2.6 | |
31 - 60 | 6.1 | |
61 - 90 | 1.0 | |
91 - 180 | 0.9 | |
> 180 | 6.7 | |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940. |
Asset Allocation (% of Fund's net assets) |
![]() |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Variable Rate Demand Note - 42.7% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 2.5% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 1.85% 9/7/22, VRDN (b)(c) | 49,015 | 49,015 | |
Mobile Downtown Redev. Auth. Gulf Opportunity Zone: | |||
Series 2011 A, 1.72% 9/7/22, LOC Bank of America NA, VRDN (b)(d) | 5,900 | 5,900 | |
Series 2011 B, 1.72% 9/7/22, LOC Bank of America NA, VRDN (b)(d) | 3,900 | 3,900 | |
Mobile Indl. Dev. Board Poll. Cont. Rev. (Alabama Pwr. Co. Barry Plant Proj.) Series 2007 C, 1.79% 9/7/22, VRDN (b) | 35,950 | 35,950 | |
West Jefferson Indl. Dev. Series 2008, 1.79% 9/7/22, VRDN (b) | 8,100 | 8,100 | |
TOTAL ALABAMA | 102,865 | ||
Alaska - 0.8% | |||
Valdez Marine Term. Rev. (Phillips Trans. Alaska, Inc. Proj.): | |||
Series 1994 B, 1.62% 9/7/22 (ConocoPhillips Co. Guaranteed), VRDN (b) | 13,350 | 13,350 | |
Series 1994 C, 1.65% 9/7/22 (ConocoPhillips Co. Guaranteed), VRDN (b) | 18,700 | 18,700 | |
TOTAL ALASKA | 32,050 | ||
Arizona - 0.2% | |||
Maricopa County Indl. Dev. Auth. Rev. (Clayton Homes, Inc. Proj.) Series 1998, 1.71% 9/7/22, LOC U.S. Bank NA, Cincinnati, VRDN (b)(c) | 3,100 | 3,100 | |
Maricopa County Poll. Cont. Rev. (Arizona Pub. Svc. Co. Palo Verde Proj.) Series 2009 A, 1.77% 9/7/22, VRDN (b) | 2,400 | 2,400 | |
FNMA: | |||
Maricopa County Indl. Dev. Auth. Multi-family Hsg. Rev. (San Lucas Apts. Proj.) Series 2003, 1.73% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 2,100 | 2,100 | |
Pima County Indl. Dev. Auth. Multi-family Hsg. Rev. Series A, 1.84% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 2,160 | 2,160 | |
TOTAL ARIZONA | 9,760 | ||
Arkansas - 0.3% | |||
Blytheville Indl. Dev. Rev. (Nucor Corp. Proj.): | |||
Series 1998, 1.85% 9/7/22, VRDN (b)(c) | 10,200 | 10,200 | |
Series 2002, 1.95% 9/7/22, VRDN (b)(c) | 3,100 | 3,100 | |
TOTAL ARKANSAS | 13,300 | ||
Colorado - 0.7% | |||
Colorado Edl. & Cultural Facilities Auth. Rev. (Clyfford Still Museum Proj.) Series 2008, 1.8% 9/7/22, LOC Wells Fargo Bank NA, VRDN (b) | 100 | 100 | |
Colorado Health Facilities Auth. Rev. Bonds Series 2022 F, 1.67% 9/7/22, VRDN (b) | 27,700 | 27,700 | |
TOTAL COLORADO | 27,800 | ||
Connecticut - 0.3% | |||
Connecticut Hsg. Fin. Auth. Series 2019 A, 1.7% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati), VRDN (b)(c) | 10,100 | 10,100 | |
Delaware - 0.2% | |||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1999 B, 1.7% 9/7/22, VRDN (b)(c) | 8,200 | 8,200 | |
District Of Columbia - 0.1% | |||
District of Columbia Rev. (Fort Lincoln New Town/Premium Distributors LLC Proj.) Series 2000, 1.83% 9/7/22, LOC Wells Fargo Bank NA, VRDN (b)(c) | 3,010 | 3,010 | |
Florida - 1.3% | |||
Bay County Indl. Rev. Dev. (Gulf Pwr. Co. Proj.) Series 2020, 1.33% 9/1/22, VRDN (b)(c) | 9,800 | 9,800 | |
Florida Hsg. Fin. Corp. Multi-family Mtg. Rev. (Savannah Springs Apts. Proj.) Series G, 1.72% 9/7/22, LOC Citibank NA, VRDN (b)(c) | 11,805 | 11,805 | |
FNMA: | |||
Collier County Hsg. Fin. Auth. Multi-family Rev. (Sawgrass Pines Apts. Proj.) Series 2003, 1.7% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 5,400 | 5,400 | |
Florida Hsg. Fin. Corp. Multi-family Mtg. Rev.: | |||
(Hunters Run Apts. Proj.) Series 2003 G, 1.72% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 5,425 | 5,425 | |
Series 2006 H, 1.75% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 5,695 | 5,695 | |
Hillsborough County Hsg. Fin. Auth. Multi-family Rev.: | |||
(Grande Oaks Apts. Proj.) Series A, 1.71% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 5,400 | 5,400 | |
(Morgan Creek Apts. Proj.) Series 2003, 1.7% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 9,900 | 9,900 | |
TOTAL FLORIDA | 53,425 | ||
Georgia - 1.1% | |||
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2012, 1.3% 9/1/22, VRDN (b)(c) | 23,310 | 23,310 | |
Gwinnett County Dev. Auth. Indl. Dev. Rev. (Curtis 1000, Inc. Proj.) Series 1996, 1.56% 9/7/22, LOC Wells Fargo Bank NA, VRDN (b)(c) | 6,460 | 6,460 | |
Monroe County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Scherer Proj.) Series 2008, 1.39% 9/1/22, VRDN (b) | 5,800 | 5,800 | |
Monroe County Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2019, 1.33% 9/1/22, VRDN (b)(c) | 3,250 | 3,250 | |
FNMA Atlanta Urban Residential Fin. Auth. Multi-family Hsg. Rev. (Collegetown at Harris Homes Phase I Proj.) Series 2003, 1.75% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 7,230 | 7,230 | |
TOTAL GEORGIA | 46,050 | ||
Illinois - 3.4% | |||
Chicago Midway Arpt. Rev. Series 2014 C, 1.71% 9/7/22, LOC PNC Bank NA, VRDN (b)(c) | 84,210 | 84,210 | |
Chicago O'Hare Int'l. Arpt. Spl. Facilities Rev. (Lufthansa German Airlines Proj.) Series 2001, 1.59% 9/7/22, LOC Bayerische Landesbank, VRDN (b)(c) | 37,770 | 37,770 | |
Illinois Fin. Auth. Multi-family Rev. (Hidden Glen Apts. Proj.) Series 2007, 1.72% 9/7/22, LOC U.S. Bank NA, Cincinnati, VRDN (b)(c) | 5,930 | 5,930 | |
FHLMC: | |||
Illinois Fin. Auth. Multi-family Rev. (Villagebrook Apts. Proj.) Series 2005, 1.75% 9/7/22, LOC Freddie Mac, VRDN (b)(c) | 7,330 | 7,330 | |
Lisle Village Multi-family Hsg. Rev. (Devonshire of Lisle Proj.) Series 1991, 1.85% 9/7/22, LOC Freddie Mac, VRDN (b)(c) | 6,000 | 6,000 | |
TOTAL ILLINOIS | 141,240 | ||
Indiana - 1.4% | |||
Indiana Dev. Fin. Auth. Envir. Rev. (PSI Energy Proj.): | |||
Series 2003 A, 1.66% 9/7/22, VRDN (b)(c) | 36,250 | 36,250 | |
Series 2003 B, 1.63% 9/7/22, VRDN (b)(c) | 22,500 | 22,494 | |
TOTAL INDIANA | 58,744 | ||
Iowa - 3.9% | |||
Iowa Fin. Auth. Rev. Series 2018 C, 1.6% 9/7/22, LOC JPMorgan Chase Bank, VRDN (b) | 7,400 | 7,400 | |
Iowa Fin. Auth. Solid Disp. Waste Rev. (MidAmerican Energy Co. Proj.): | |||
Series 2008 A, 1.68% 9/7/22, VRDN (b)(c) | 45,100 | 45,100 | |
Series 2016 B, 1.68% 9/7/22, VRDN (b)(c) | 17,600 | 17,600 | |
Iowa Fin. Auth. Solid Waste Facilities (MidAmerican Energy Co. Proj.) Series 2017, 1.63% 9/7/22, VRDN (b)(c) | 91,630 | 91,630 | |
TOTAL IOWA | 161,730 | ||
Kansas - 1.7% | |||
Cygne Poll. Cont. Rev. (Kansas Gas and Elec. Co. Proj.) Series 1994 B, 1.65% 9/7/22, VRDN (b) | 17,200 | 17,200 | |
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.): | |||
Series 2007 A, 1.69% 9/7/22, VRDN (b) | 2,400 | 2,400 | |
Series 2007 B, 1.69% 9/7/22, VRDN (b) | 9,400 | 9,400 | |
Chanute Indl. Dev. Rev. (Ash Grove Cement Co. Proj.): | |||
Series 2000, 1.72% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 25,100 | 25,100 | |
Series 2002, 1.72% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 7,000 | 7,000 | |
Wamego Kansas Poll. Cont. Rfdg. Rev.: | |||
(Kansas Gas & Elec. Co. Proj.) Series 1994, 1.65% 9/7/22, VRDN (b) | 4,100 | 4,100 | |
(Western Resources, Inc. Proj.) Series 1994, 1.65% 9/7/22, VRDN (b) | 5,200 | 5,200 | |
TOTAL KANSAS | 70,400 | ||
Kentucky - 1.9% | |||
Daviess County Exempt Facilities Rev. (Kimberly-Clark Tissue Co. Proj.) Series 1999, 1.66% 9/7/22 (Kimberly-Clark Corp. Guaranteed), VRDN (b)(c) | 6,070 | 6,070 | |
Daviess County Solid Waste Disp. Facilities Rev. (Scott Paper Co. Proj.): | |||
Series 1993 A, 1.66% 9/7/22 (Kimberly-Clark Corp. Guaranteed), VRDN (b)(c) | 33,900 | 33,900 | |
Series 1993 B, 1.66% 9/7/22 (Kimberly-Clark Corp. Guaranteed), VRDN (b)(c) | 40,000 | 40,000 | |
TOTAL KENTUCKY | 79,970 | ||
Louisiana - 0.4% | |||
Louisiana Pub. Facilities Auth. Rev. (Air Products & Chemicals, Inc. Proj.) Series 2002, 1.53% 9/7/22, VRDN (b)(c) | 13,000 | 13,000 | |
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.) Series 2010 B1, 1.95% 9/7/22, VRDN (b) | 4,200 | 4,200 | |
TOTAL LOUISIANA | 17,200 | ||
Maryland - 0.2% | |||
Maryland Trans. Auth. Passenger Facility Charge Rev. Series 2012 C, 1.74% 9/7/22, LOC Wells Fargo Bank NA, VRDN (b)(c) | 9,700 | 9,700 | |
Michigan - 0.8% | |||
Michigan Hsg. Dev. Auth. Rental Hsg. Rev.: | |||
Series 2002 A, 1.73% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 18,460 | 18,460 | |
Series 2008 A, 1.53% 9/7/22, LOC Barclays Bank PLC, VRDN (b)(c) | 1,180 | 1,180 | |
Series 2018 C, 1.51% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 11,600 | 11,600 | |
TOTAL MICHIGAN | 31,240 | ||
Minnesota - 0.0% | |||
FNMA Plymouth Multi-family Hsg. Rev. (Hbr. Lane Apts. Proj.) Series 2003, 1.71% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 1,165 | 1,165 | |
Nebraska - 2.7% | |||
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.: | |||
Series 2014 B, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 9,705 | 9,705 | |
Series 2015 B, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 16,420 | 16,420 | |
Series 2015 D, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 13,735 | 13,735 | |
Series 2016 B, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 6,345 | 6,345 | |
Series 2016 D, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 20,720 | 20,720 | |
Series 2018 D, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 1,800 | 1,800 | |
Series 2019 C, 1.6% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b) | 8,470 | 8,470 | |
Series 2021 B, 1.58% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 16,800 | 16,800 | |
Series 2022 E, 1.58% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b) | 6,800 | 6,800 | |
Series B, 1.63% 9/7/22 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 9,500 | 9,500 | |
Stanton County Indl. Dev. Rev.: | |||
(Nucor Corp. Proj.) Series 1996, 1.85% 9/7/22, VRDN (b)(c) | 1,200 | 1,200 | |
Series 1998, 1.85% 9/7/22, VRDN (b)(c) | 1,200 | 1,200 | |
TOTAL NEBRASKA | 112,695 | ||
Nevada - 0.8% | |||
Clark County Arpt. Rev.: | |||
Series 2008 C1, 1.52% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 17,500 | 17,500 | |
Series 2008 C3, 1.54% 9/7/22, LOC Sumitomo Mitsui Banking Corp., VRDN (b)(c) | 14,120 | 14,120 | |
TOTAL NEVADA | 31,620 | ||
New Jersey - 0.1% | |||
New Jersey Econ. Dev. Auth. Natural Gas Facilities Rev. (South Jersey Gas Co. Proj.) Series 2006-1, 1.73% 9/7/22, LOC JPMorgan Chase Bank, VRDN (b)(c) | 4,700 | 4,700 | |
New York - 5.1% | |||
New York City Hsg. Dev. Corp. Multi-family Mtg. Rev.: | |||
(Cook Street Apts. Proj.) Series A, 1.53% 9/7/22, LOC JPMorgan Chase Bank, VRDN (b)(c) | 1,000 | 1,000 | |
(Related-Upper East Proj.) Series A, 1.7% 9/7/22, LOC Landesbank Baden-Wurttemberg, VRDN (b)(c) | 25,700 | 25,700 | |
FHLMC: | |||
New York City Hsg. Dev. Corp. Multi-family Rental Hsg. Rev. (Linden Plaza Proj.) Series 2008 A, 1.51% 9/7/22, LOC Freddie Mac, VRDN (b)(c) | 30,260 | 30,260 | |
New York Hsg. Fin. Agcy. Rev.: | |||
(Clinton Green North Hsg. Proj.) Series 2005 A, 1.63% 9/7/22, LOC Freddie Mac, VRDN (b)(c) | 38,145 | 38,145 | |
(Clinton Green South Hsg. Proj.) Series 2005 A, 1.63% 9/7/22, LOC Freddie Mac, VRDN (b)(c) | 18,300 | 18,300 | |
(Theatre Row Tower Hsg. Proj.) Series 2002 A, 1.63% 9/7/22, LOC Freddie Mac, VRDN (b)(c) | 12,600 | 12,600 | |
FNMA New York Hsg. Fin. Agcy. Rev.: | |||
(316 Eleventh Ave. Hsg. Proj.) Series 2007 A, 1.63% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 35,700 | 35,700 | |
(West 20th Street Proj.) Series 2001 A, 1.51% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 16,200 | 16,200 | |
Series 2008 A, 1.53% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 31,015 | 31,015 | |
TOTAL NEW YORK | 208,920 | ||
New York And New Jersey - 0.1% | |||
Port Auth. of New York & New Jersey: | |||
Series 1992 2, 1.72% 9/30/22, VRDN (b)(e) | 500 | 500 | |
Series 1995 4, 1.75% 9/30/22, VRDN (b)(c)(e) | 3,900 | 3,900 | |
TOTAL NEW YORK AND NEW JERSEY | 4,400 | ||
North Carolina - 0.4% | |||
Cumberland County Indl. Facilities & Poll. Cont. Fing. Auth. (Cargill, Inc. Proj.) Series 2022, 1.75% 9/7/22, VRDN (b)(c) | 7,500 | 7,500 | |
Parson County Indl. Facilities and Poll. Cont. Fing. Auth. (CertainTeed Gypsum NC, Inc. Proj.) Series 2010, 1.7% 9/7/22, LOC Cr. Industriel et Commercial, VRDN (b) | 8,800 | 8,800 | |
TOTAL NORTH CAROLINA | 16,300 | ||
Ohio - 0.0% | |||
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. Series 2016 G, 1.51% (b)(c) | 500 | 500 | |
Oregon - 0.2% | |||
Portland Hsg. Auth. Rev.: | |||
(New Columbia - Cecelia Proj.) Series 2004, 1.74% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 2,770 | 2,770 | |
(New Columbia - Trouton Proj.) Series 2005, 1.74% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 4,405 | 4,405 | |
TOTAL OREGON | 7,175 | ||
Pennsylvania - 0.3% | |||
Allegheny County Hosp. Dev. Auth. Rev. Series 2016 A, 1.74% 9/7/22, LOC Truist Bank, VRDN (b) | 4,335 | 4,335 | |
Beaver County Indl. Dev. Auth. Series 2018 A, 1.74% 9/7/22, LOC Truist Bank, VRDN (b) | 700 | 700 | |
Lancaster Indl. Dev. Auth. Rev. (Mennonite Home Proj.) Series 2007, 1.74% 9/7/22, LOC Manufacturers & Traders Trust Co., VRDN (b) | 6,905 | 6,905 | |
Philadelphia Auth. for Indl. Dev. Rev. (Spl. People in Northeast, Inc. Proj.) Series 2006, 1.72% 9/7/22, LOC Citizens Bank NA, VRDN (b) | 600 | 600 | |
TOTAL PENNSYLVANIA | 12,540 | ||
South Carolina - 0.8% | |||
Berkeley County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1995, 1.85% 9/7/22, VRDN (b)(c) | 1,000 | 1,000 | |
South Carolina Jobs-Econ. Dev. Auth. Econ. Dev. Rev. (Waste Mgmt. of South Carolina, Inc. Proj.) Series 2003 A, 1.7% 9/7/22, LOC Wells Fargo Bank NA, VRDN (b)(c) | 15,000 | 15,000 | |
South Carolina Jobs-Econ. Dev. Auth. Indl. Rev. (South Carolina Generating Co., Inc. Proj.) Series 2008, 1.7% 9/7/22, LOC TD Banknorth, NA, VRDN (b)(c) | 15,000 | 15,000 | |
TOTAL SOUTH CAROLINA | 31,000 | ||
Tennessee - 0.7% | |||
Loudon County Indl. Dev. Board Exempt Facilities Rev. (Kimberly-Clark Corp. Proj.) Series 1999, 1.66% 9/7/22, VRDN (b)(c) | 5,200 | 5,200 | |
Memphis Health, Edl. & Hsg. Facilities Board (Ashland Lakes Apts. Proj.) Series A, 1.77% 9/7/22, LOC U.S. Bank NA, Cincinnati, VRDN (b)(c) | 7,800 | 7,800 | |
FNMA Metropolitan Govt. Nashville & Davidson County Health & Edl. Facilities Board (Whispering Oaks Apts. Proj.) Series 2007, 1.75% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 15,000 | 15,000 | |
TOTAL TENNESSEE | 28,000 | ||
Texas - 5.4% | |||
Calhoun County Navigation District Envir. Facilities Rev. (Formosa Plastics Corp. Proj.) Series 2004, 1.77% 9/7/22, LOC Citibank NA, VRDN (b)(c) | 8,600 | 8,600 | |
Calhoun County Navigation District Poll. Cont. Rev. (Formosa Plastics Corp., Texas Proj.) Series 2002, 1.77% 9/7/22, LOC Citibank NA, VRDN (b)(c) | 1,700 | 1,700 | |
Calhoun Port Auth. Envir. Facilities Rev. Series 2007 A, 1.71% 9/7/22, LOC PNC Bank NA, VRDN (b)(c) | 6,665 | 6,665 | |
Jewett Econ. Dev. Corp. Indl. Dev. Rev. (Nucor Corp. Proj.) Series 2003, 1.85% 9/7/22, VRDN (b)(c) | 12,600 | 12,600 | |
Lower Neches Valley Auth. Indl. Dev. Corp. Exempt Facilities Rev. (Onyx Envir. Svcs. Proj.) Series 2003, 1.72% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 10,310 | 10,310 | |
Port Arthur Navigation District Indl. Dev. Corp. Exempt Facilities Rev. (Air Products Proj.): | |||
Series 2000, 1.53% 9/7/22, VRDN (b)(c) | 25,000 | 25,000 | |
Series 2001, 1.53% 9/7/22, VRDN (b)(c) | 24,000 | 24,000 | |
Series 2010 A, 1.58% 9/7/22 (TotalEnergies SE Guaranteed), VRDN (b) | 20,000 | 20,000 | |
Port Arthur Navigation District Jefferson County Rev. Series 2000 B, 1.54% 9/7/22 (TotalEnergies SE Guaranteed), VRDN (b)(c) | 10,000 | 10,000 | |
Texas Gen. Oblig.: | |||
(Texas Veterans Land Board Proj.) Series 2017, 1.52% 9/7/22 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (b) | 7,500 | 7,500 | |
Series 2002 A, 1.61% 9/7/22 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (b)(c) | 20,670 | 20,670 | |
Series 2003 A, 1.61% 9/7/22 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (b)(c) | 14,450 | 14,450 | |
Series 2007 B, 1.61% 9/7/22 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (b)(c) | 20,910 | 20,910 | |
Series 2015 A, 1.56% 9/7/22 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (b) | 3,710 | 3,710 | |
FNMA: | |||
Harris County Hsg. Fin. Corp. Multi-family Hsg. Rev.: | |||
(Louetta Village Apts. Proj.) Series 2005, 1.73% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 5,080 | 5,080 | |
(Primrose at Bammel Apts. Proj.) Series 2005, 1.75% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 6,680 | 6,680 | |
Houston Hsg. Fin. Corp. Multi-family Hsg. Rev. (Little Nell Apts. Proj.) Series 2003, 1.73% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 9,500 | 9,500 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. (Residences at Sunset Pointe Proj.) Series 2006, 1.81% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 14,525 | 14,525 | |
TOTAL TEXAS | 221,900 | ||
Washington - 1.0% | |||
King County Hsg. Auth. Rev. (Overlake TOD Hsg. Proj.) Series 2000, 1.72% 9/7/22, LOC Bank of America NA, VRDN (b)(c) | 15,555 | 15,555 | |
Port of Seattle Rev. Series 2008, 1.62% 9/7/22, LOC MUFG Bank Ltd., VRDN (b)(c) | 16,970 | 16,970 | |
FHLMC Washington Hsg. Fin. Commission Multi-family Hsg. Rev. (The Lodge at Eagle Ridge Proj.) Series A, 1.71% 9/7/22, LOC Fed. Home Ln. Bank, San Francisco, VRDN (b)(c) | 9,485 | 9,485 | |
TOTAL WASHINGTON | 42,010 | ||
West Virginia - 2.0% | |||
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev.: | |||
(Appalachian Pwr. Co. Amos Proj.) Series 2008 B, 1.75% 9/7/22, VRDN (b)(c) | 37,475 | 37,475 | |
(Appalachian Pwr. Co.- Mountaineer Proj.) Series 2008 A, 1.75% 9/7/22, VRDN (b)(c) | 45,400 | 45,400 | |
TOTAL WEST VIRGINIA | 82,875 | ||
Wisconsin - 1.3% | |||
Green Bay Redev. Auth. (Green Bay Packaging, Inc. Proj.) Series 2019, 1.75% 9/7/22, LOC Wells Fargo Bank NA, VRDN (b)(c)(d) | 53,200 | 53,200 | |
Wyoming - 0.6% | |||
Converse County Envir. Impt. Rev. Series 1995, 1.65% 9/7/22, VRDN (b)(c) | 3,600 | 3,600 | |
Lincoln County Envir. (PacifiCorp Proj.) Series 1995, 1.66% 9/7/22, VRDN (b)(c) | 16,800 | 16,800 | |
Lincoln County Poll. Cont. Rev. (PacifiCorp Proj.) Series 1994, 1.64% 9/7/22, VRDN (b)(f) | 2,000 | 2,000 | |
Sweetwater County Env Imp Rev. (Pacificorp Proj.) Series 1995, 1.4% 9/1/22, VRDN (b)(c) | 4,100 | 4,100 | |
TOTAL WYOMING | 26,500 | ||
TOTAL VARIABLE RATE DEMAND NOTE (Cost $1,762,284) | 1,762,284 | ||
Tender Option Bond - 39.0% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 0.2% | |||
Alabama Spl. Care Facilities Fing. Auth. Mobile Rev. Participating VRDN Series ZL 02 98, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 5,000 | 5,000 | |
Huntsville Health Care Auth. Participating VRDN Series XG 03 01, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 3,165 | 3,165 | |
Huntsville Hosp. Participating VRDN Series XG 03 84, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,910 | 1,910 | |
TOTAL ALABAMA | 10,075 | ||
Arizona - 0.4% | |||
Arizona Indl. Dev. Auth. Hosp. Rev. Participating VRDN: | |||
Series 20 XF 09 90, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 2,755 | 2,755 | |
Series XM 10 13, 1.79% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 900 | 900 | |
Arizona Tourism & Sports Auth. Tax Rev. Participating VRDN Series Floaters E85, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 4,200 | 4,200 | |
Mesa Util. Sys. Rev. Participating VRDN: | |||
Series Solar 17 0026, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 2,870 | 2,870 | |
Series XM 10 12, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 900 | 900 | |
Phoenix Civic Impt. Board Arpt. Rev. Participating VRDN: | |||
Series Floaters ZF 27 58, 1.77% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 2,025 | 2,025 | |
Series YX 11 54, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 2,190 | 2,190 | |
TOTAL ARIZONA | 15,840 | ||
California - 2.9% | |||
California Health Facilities Fing. Auth. Rev. Participating VRDN: | |||
Series 17 04, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 800 | 800 | |
Series DBE 80 11, 1.81% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 31,150 | 31,150 | |
Series Floaters XF 24 67, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 3,500 | 3,500 | |
California Infrastructure and Econ. Dev. Bank Rev. Participating VRDN Series XF 29 04, 1.71% (b)(g)(h) | 3,025 | 3,025 | |
Los Angeles Dept. Arpt. Rev. Participating VRDN: | |||
Series Floaters XF 06 99, 1.71% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(g)(h) | 6,520 | 6,520 | |
Series Floaters XF 27 24, 1.72% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(g)(h) | 3,800 | 3,800 | |
Series Floaters XG 02 32, 1.71% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(g)(h) | 4,000 | 4,000 | |
Series Floaters XX 10 28, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 8,000 | 8,000 | |
Series XL 01 61, 1.71% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(g)(h) | 4,235 | 4,235 | |
Series XM 08 69, 1.72% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 5,780 | 5,780 | |
Series YX 12 29, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 4,980 | 4,980 | |
Series ZM 04 73, 1.73% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(g)(h) | 425 | 425 | |
Series ZM 04 87, 1.73% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(g)(h) | 1,470 | 1,470 | |
Sacramento City Fing. Auth. Rev. Participating VRDN Series Floaters XG 01 00, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 2,900 | 2,900 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Participating VRDN Series XX 12 15, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 2,000 | 2,000 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN: | |||
Series Floaters XL 01 01, 1.72% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 1,235 | 1,235 | |
Series XF 28 76, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 10,700 | 10,700 | |
San Jose Int. Arpt. Rev. Participating VRDN Series 2017, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 6,400 | 6,400 | |
Sanger Unified School District Participating VRDN Series Floaters XF 24 63, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 10,105 | 10,105 | |
Solano Cmnty. College District Participating VRDN Series Floaters XF 24 59, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 3,145 | 3,145 | |
Univ. of California Revs. Participating VRDN Series Floaters ZF 26 70, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 4,200 | 4,200 | |
TOTAL CALIFORNIA | 118,370 | ||
Colorado - 4.4% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN: | |||
Series 2022 004, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 18,000 | 18,000 | |
Series Floaters XF 06 67, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 6,345 | 6,345 | |
Series XG 02 51, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 2,825 | 2,825 | |
Series XM 08 29, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,900 | 3,900 | |
Series XM 08 38, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,550 | 3,550 | |
Series XM 08 41, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 4,000 | 4,000 | |
Series XX 11 30, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,880 | 3,880 | |
Series ZF 08 09, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,000 | 1,000 | |
Colorado State Univ. Board of Governors Enterprise Sys. Rev. Participating VRDN Series E 143, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 6,900 | 6,900 | |
Denver City & County Arpt. Rev.: | |||
Bonds Series G-114, 1.92%, tender 12/1/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(e)(g)(h) | 1,600 | 1,600 | |
Participating VRDN: | |||
Series Floaters XF 07 57, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 2,915 | 2,915 | |
Series Floaters XG 01 96, 1.8% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(g)(h) | 47,905 | 47,905 | |
Series Floaters XL 00 83, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 23,665 | 23,665 | |
Series Floaters XL 00 84, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 13,665 | 13,665 | |
Series Floaters ZF 06 89, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 4,375 | 4,375 | |
Series Floaters ZF 06 90, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 9,315 | 9,315 | |
Series Floaters ZF 06 91, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 3,680 | 3,680 | |
Series XG 03 73, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 19,500 | 19,500 | |
Univ. of Colorado Enterprise Sys. Rev. Participating VRDN Series Solar 0065, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 6,005 | 6,005 | |
TOTAL COLORADO | 183,025 | ||
Connecticut - 2.7% | |||
Connecticut Gen. Oblig. Participating VRDN: | |||
Series 2017, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,200 | 3,200 | |
Series Floaters 016, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 84,730 | 84,730 | |
Series XM 08 57, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 6,500 | 6,500 | |
Series XM 08 58, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 5,640 | 5,640 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | |||
Bonds Series Floaters G 110, 1.85%, tender 4/3/23 (Liquidity Facility Royal Bank of Canada) (b)(e)(g)(h) | 5,400 | 5,400 | |
Participating VRDN Series ROC II R 14073, 1.73% 9/7/22 (Liquidity Facility Citibank NA) (b)(g)(h) | 1,500 | 1,500 | |
State of Connecticut Gen. Oblig. Bonds Participating VRDN Series Floaters XM 03 39, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,700 | 3,700 | |
TOTAL CONNECTICUT | 110,670 | ||
District Of Columbia - 0.6% | |||
District of Columbia Gen. Oblig. Participating VRDN: | |||
Series MS 4301, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 5,600 | 5,600 | |
Series Solar 0035, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 2,425 | 2,425 | |
District of Columbia Income Tax Rev. Participating VRDN Series XF 23 41, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,800 | 1,800 | |
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev. Participating VRDN: | |||
Series XF 09 20, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,145 | 2,145 | |
Series XG 02 67, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 5,015 | 5,015 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev. Participating VRDN: | |||
Series Floaters XF 06 94, 1.79% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 2,295 | 2,295 | |
Series Floaters XF 27 94, 1.75% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(g)(h) | 1,545 | 1,545 | |
Series Floaters ZM 05 54, 1.71% 9/7/22 (Liquidity Facility Citibank NA) (b)(c)(g)(h) | 2,500 | 2,500 | |
TOTAL DISTRICT OF COLUMBIA | 23,325 | ||
Florida - 3.0% | |||
Alachua County Health Facilities Auth. Health Facilities Rev. Participating VRDN Series XF 11 39, 1.75% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 1,905 | 1,905 | |
Broward County Arpt. Sys. Rev. Participating VRDN Series Floaters XL 00 88, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 15,950 | 15,950 | |
Broward County Port Facilities Rev. Participating VRDN: | |||
Series XF 08 17, 1.74% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(g)(h) | 6,795 | 6,795 | |
Series XF 09 52, 1.73% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(g)(h) | 3,320 | 3,320 | |
Series ZF 08 26, 1.76% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(g)(h) | 2,635 | 2,635 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Participating VRDN: | |||
Series XG 02 75, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 5,480 | 5,480 | |
Series XG 02 81, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,800 | 1,800 | |
Series ZF 09 31, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,605 | 1,605 | |
Fort Myers Util. Sys. Rev. Participating VRDN Series XF 08 13, 1.79% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 1,100 | 1,100 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | |||
Bonds Series Floaters G 25, 1.92%, tender 4/3/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(e)(g)(h) | 2,200 | 2,200 | |
Participating VRDN: | |||
Series Floaters ZF 25 03, 1.71% 9/7/22 (Liquidity Facility Citibank NA) (b)(c)(g)(h) | 3,750 | 3,750 | |
Series XF 28 77, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 9,100 | 9,100 | |
Series XM 08 90, 1.72% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 8,765 | 8,765 | |
Series XM 08 96, 1.72% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 10,200 | 10,200 | |
Series ZF 08 22, 1.76% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 8,200 | 8,200 | |
Lee County Arpt. Rev. Participating VRDN Series XF 11 26, 1.74% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(g)(h) | 2,930 | 2,930 | |
Lee Memorial Health Sys. Hosp. Rev. Participating VRDN Series Floaters XG 02 34, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 2,185 | 2,185 | |
Miami-Dade County Participating VRDN Series XF 29 46, 1.75% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 1,200 | 1,200 | |
Miami-Dade County Expressway Auth. Participating VRDN Series Floaters XG 02 52, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 3,500 | 3,500 | |
Miami-Dade County Wtr. & Swr. Rev. Participating VRDN Series 2021 XF 11 01, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 3,070 | 3,070 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. Participating VRDN Series XM 07 82, 1.74% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,190 | 3,190 | |
Pinellas County Fla School Board Ctfs. Participating VRDN Series Floaters ZF 05 86, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 5,000 | 5,000 | |
Pittsburg WTSW Participating VRDN Series XM 00 06, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 6,400 | 6,400 | |
South Broward Hosp. District Rev. Participating VRDN Series XM 09 88, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 4,675 | 4,675 | |
South Miami Health Facilities Auth. Hosp. Rev. Participating VRDN: | |||
Series XF 25 23, 1.74% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 7,700 | 7,700 | |
Series XM 08 68, 1.82% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 700 | 700 | |
TOTAL FLORIDA | 123,355 | ||
Georgia - 1.6% | |||
Bainbridge Combined Utils. Rev. Participating VRDN Series XG 03 49, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,000 | 4,000 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Participating VRDN Series Floaters E 107, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 14,800 | 14,800 | |
Cobb County Kennestone Hosp. Auth. Rev. Participating VRDN Series XF 11 49, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 1,715 | 1,715 | |
Fulton County Dev. Auth. Rev. Participating VRDN Series XL 02 68, 1.77% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,100 | 1,100 | |
Gainesville & Hall County Hosp. Auth. Rev. Participating VRDN Series XG 02 85, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 11,100 | 11,100 | |
Georgia Muni. Elec. Auth. Pwr. Rev. Participating VRDN: | |||
Series XF 08 23, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 2,945 | 2,945 | |
Series XG 02 56, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 11,000 | 11,000 | |
Heard County Dev. Auth. Poll. Cont. Rev. Participating VRDN Series Floaters E 105, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 3,400 | 3,400 | |
Main Street Natural Gas, Inc. Participating VRDN: | |||
Series 2022 ZL 03 05, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 1,995 | 1,995 | |
Series ZL 03 06, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 2,025 | 2,025 | |
Series ZL 03 09, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 2,370 | 2,370 | |
Monroe County Dev. Auth. Poll. Cont. Rev. Participating VRDN Series Floaters E 106, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 5,000 | 5,000 | |
Muni. Elec. Auth. of Georgia Participating VRDN Series XG 02 54, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 6,425 | 6,425 | |
TOTAL GEORGIA | 67,875 | ||
Hawaii - 0.8% | |||
Hawaii Arpts. Sys. Rev. Participating VRDN Series XX 12 17, 1.73% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 7,870 | 7,870 | |
Hawaii Dept. of Budget & Fin. Spl. Purp. Rev. Participating VRDN Series Floaters XM 06 19, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 12,290 | 12,290 | |
Hawaii Gen. Oblig. Participating VRDN: | |||
Series Solar 17 0031, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 5,030 | 5,030 | |
Series XF 04 39, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 6,000 | 6,000 | |
TOTAL HAWAII | 31,190 | ||
Idaho - 0.1% | |||
Idaho Health Facilities Auth. Rev. Participating VRDN Series XG 03 74, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 2,180 | 2,180 | |
Illinois - 4.3% | |||
Chicago Gen. Oblig. Participating VRDN: | |||
Series E 151, 1.71% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 14,900 | 14,900 | |
Series Floaters XL 01 05, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 6,400 | 6,400 | |
Series XM 10 05, 1.82% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 1,300 | 1,300 | |
Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN: | |||
Series Floaters XF 07 23, 1.71% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 9,020 | 9,020 | |
Series Floaters XG 02 19, 1.71% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 6,475 | 6,475 | |
Series Floaters XM 06 86, 1.76% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 4,480 | 4,480 | |
Series XF 28 66, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 3,650 | 3,650 | |
Deutsche Bank Spears/Lifers Trust Participating VRDN Series Floaters XF 10 12, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,400 | 4,400 | |
Illinois Fin. Auth. Participating VRDN: | |||
Series XF 09 80, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 7,125 | 7,125 | |
Series XG 02 99, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,900 | 1,900 | |
Illinois Fin. Auth. Rev. Participating VRDN: | |||
Series Floaters 017, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 14,665 | 14,665 | |
Series XF 07 11, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 11,050 | 11,050 | |
Series XF 11 47, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 2,300 | 2,300 | |
Series YX 12 26, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,575 | 4,575 | |
Illinois Gen. Oblig. Participating VRDN: | |||
Series 15 XF 1006, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 7,000 | 7,000 | |
Series Floaters XX 10 81, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 15,200 | 15,200 | |
Series Floaters YX 10 72, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,595 | 2,595 | |
Series Floaters YX 10 86, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,660 | 1,660 | |
Series XF 10 10, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 7,500 | 7,500 | |
Series XF 28 41, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,150 | 3,150 | |
Series XM 07 59, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 5,050 | 5,050 | |
Series XX 11 41, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,400 | 1,400 | |
Series YX 11 50, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,590 | 2,590 | |
Series YX 11 51, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 5,975 | 5,975 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev. Participating VRDN: | |||
Series 15 XF0277, 1.73% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,000 | 2,000 | |
Series 2022 XF 12 88, 1.73% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 10,500 | 10,500 | |
Series XM 00 78, 1.73% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 15,375 | 15,375 | |
Series XM 10 02, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 5,660 | 5,660 | |
Portofino Landings Cmnty. Dev. D Participating VRDN Series XM 09 38, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 700 | 700 | |
TOTAL ILLINOIS | 178,595 | ||
Indiana - 0.2% | |||
Hamilton County Healthcare Facilities Rev. Participating VRDN Series XF 10 26, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 9,400 | 9,400 | |
Kentucky - 0.8% | |||
CommonSpirit Health Participating VRDN Series MIZ 90 21, 1.77% 9/7/22 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(g)(h) | 2,925 | 2,925 | |
Kentucky Bd Dev. Corp. Indl. Bldg. Participating VRDN Series XX 11 24, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,900 | 1,900 | |
Kentucky Econ. Dev. Fin. Auth. Participating VRDN: | |||
Series Floaters XF 10 24, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 10,400 | 10,400 | |
Series Floaters XF 24 85, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 10,300 | 10,300 | |
Series XM 08 39, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,390 | 2,390 | |
Series XM 08 42, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,575 | 2,575 | |
Kentucky State Property & Buildings Commission Rev. Bonds Series G 116, 1.87%, tender 11/1/22 (Liquidity Facility Royal Bank of Canada) (b)(e)(g)(h) | 1,200 | 1,200 | |
TOTAL KENTUCKY | 31,690 | ||
Louisiana - 3.2% | |||
Louisiana Gas & Fuel Tax Rev. Participating VRDN Series EGL 14 0049, 1.7% 9/7/22 (Liquidity Facility Citibank NA) (b)(g)(h) | 114,600 | 114,600 | |
Louisiana Pub. Facilities Auth. Rev. Participating VRDN Series XF 12 02, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 6,425 | 6,425 | |
New Orleans Aviation Board Rev. Participating VRDN Series Floaters XL 00 46, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 11,240 | 11,240 | |
TOTAL LOUISIANA | 132,265 | ||
Maryland - 0.1% | |||
Maryland Health & Higher Edl. Facilities Auth. Rev. Participating VRDN Series XF 10 21, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 3,290 | 3,290 | |
Montgomery County Gen. Oblig. Participating VRDN Series Floaters XG 02 15, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,600 | 1,600 | |
TOTAL MARYLAND | 4,890 | ||
Michigan - 0.6% | |||
Eastern Michigan Univ. Revs. Participating VRDN Series Floaters 009, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 10,100 | 10,100 | |
Mclaren Health Care Corp. Participating VRDN Series XL 02 71, 1.77% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 700 | 700 | |
Michigan Fin. Auth. Rev. Participating VRDN: | |||
Series 15 XF0126, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,525 | 2,525 | |
Series Floaters ZF 07 90, 1.77% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 400 | 400 | |
Series Floaters ZF 07 96, 1.77% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 565 | 565 | |
Series Floaters ZF 28 25, 1.75% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,300 | 1,300 | |
Series XM 02 23, 1.71% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 2,400 | 2,400 | |
Series XM 04 72, 1.7% 9/7/22 (Liquidity Facility Citibank NA) (b)(g)(h) | 4,050 | 4,050 | |
Monroe Mich Pub. Schools Participating VRDN Series XL 01 46, 1.79% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,100 | 2,100 | |
TOTAL MICHIGAN | 24,140 | ||
Mississippi - 0.1% | |||
Mississippi Bus. Fin. Corp. Rev. Participating VRDN Series 2021 XF 11 05, 1.74% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 3,460 | 3,460 | |
Missouri - 1.7% | |||
Kansas City Indl. Dev. Auth. Participating VRDN: | |||
Series XG 03 96, 1.89% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(g)(h) | 6,500 | 6,500 | |
Series XG 04 02, 0% 9/8/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(g)(h) | 4,000 | 4,000 | |
Series YX 11 59, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 2,200 | 2,200 | |
Kansas City Spl. Oblig. Participating VRDN Series YX 11 93, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,900 | 2,900 | |
Missouri Health & Edl. Facilities Auth. Edl. Facilities Rev. Participating VRDN: | |||
Series Floaters XF 07 63, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 3,000 | 3,000 | |
Series Floaters XG 01 84, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 6,200 | 6,200 | |
Missouri Health & Edl. Facilities Auth. Rev. Participating VRDN Series Floaters C16, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 29,900 | 29,900 | |
Missouri Health & Edl. Facilities Rev. Participating VRDN: | |||
Series Floaters 14, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 9,460 | 9,460 | |
Series Floaters C17, 1.71% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 5,500 | 5,500 | |
TOTAL MISSOURI | 69,660 | ||
Montana - 0.0% | |||
Montana Facility Fin. Auth. Participating VRDN Series 2021 XF 11 14, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 700 | 700 | |
Nebraska - 0.2% | |||
Central Plains Energy Proj. Rev. Participating VRDN: | |||
Series 2022 ZL 03 01, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 1,400 | 1,400 | |
Series 2022 ZL 03 03, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 3,380 | 3,380 | |
Omaha Pub. Pwr. District Elec. Rev. Participating VRDN Series 16 XF1053, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 5,545 | 5,545 | |
TOTAL NEBRASKA | 10,325 | ||
Nevada - 0.3% | |||
Clark County Hwy. Impt. Rev. Participating VRDN Series XG 03 65, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 5,000 | 5,000 | |
Las Vegas Convention & Visitors Auth. Participating VRDN: | |||
Series XG 03 56, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 7,200 | 7,200 | |
Series XM 08 66, 1.71% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 2,100 | 2,100 | |
TOTAL NEVADA | 14,300 | ||
New Jersey - 0.6% | |||
New Jersey Econ. Dev. Auth. Lease Rev. Participating VRDN Series Floaters XF 25 25, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,000 | 2,000 | |
New Jersey Econ. Dev. Auth. Rev. Participating VRDN: | |||
Series Floaters XF 23 93, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,750 | 1,750 | |
Series Floaters XL 00 52, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 6,625 | 6,625 | |
Series YX 11 60, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,115 | 3,115 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev. Participating VRDN Series Floaters XG 01 78, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 1,210 | 1,210 | |
New Jersey Trans. Trust Fund Auth. Participating VRDN: | |||
Series Floaters XG 02 05, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,900 | 1,900 | |
Series Floaters XX 10 93, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,900 | 3,900 | |
Series YX 11 38, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,700 | 2,700 | |
TOTAL NEW JERSEY | 23,200 | ||
New Mexico - 0.1% | |||
New Mexico Mtg. Fin. Auth. Participating VRDN Series YX 11 89, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,575 | 2,575 | |
New York - 2.5% | |||
New York City Gen. Oblig. Participating VRDN: | |||
Series 2020 003, 1.82% 10/12/22 (Liquidity Facility Wells Fargo Bank NA) (b)(g)(h) | 1,225 | 1,225 | |
Series XL 01 65, 1.7% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 120 | 120 | |
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev. Participating VRDN: | |||
Series Floaters E 129, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 30,700 | 30,700 | |
Series XF 13 36, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 4,325 | 4,325 | |
New York Dorm. Auth. Rev. Bonds Series MS 00 09, 1.77%, tender 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 2,700 | 2,700 | |
New York Metropolitan Trans. Auth. Rev. Participating VRDN: | |||
Series RBC E 126, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 4,800 | 4,800 | |
Series XF 24 19, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 5,625 | 5,625 | |
Series XF 28 68, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 9,000 | 9,000 | |
Series XF 28 78, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,800 | 4,800 | |
Series XG 02 90, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 29,865 | 29,865 | |
Series XX 11 56, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 9,165 | 9,165 | |
TOTAL NEW YORK | 102,325 | ||
New York And New Jersey - 1.4% | |||
Port Auth. of New York & New Jersey Participating VRDN: | |||
Series Floaters XF 05 65, 1.7% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(g)(h) | 8,430 | 8,430 | |
Series Floaters XF 06 83, 1.71% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(g)(h) | 2,000 | 2,000 | |
Series Floaters XF 24 88, 1.72% 9/7/22 (Liquidity Facility Citibank NA) (b)(c)(g)(h) | 2,500 | 2,500 | |
Series Floaters XM 06 16, 1.74% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 8,740 | 8,740 | |
Series ROC 14086, 1.72% 9/7/22 (Liquidity Facility Citibank NA) (b)(c)(g)(h) | 12,210 | 12,210 | |
Series XF 09 38, 1.74% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 15,945 | 15,945 | |
Series YX 11 78, 1.74% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 5,625 | 5,625 | |
Series ZL 02 55, 1.74% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 1,100 | 1,100 | |
TOTAL NEW YORK AND NEW JERSEY | 56,550 | ||
North Carolina - 0.3% | |||
Charlotte Int'l. Arpt. Rev. Participating VRDN: | |||
Series 2021 XF 29 38, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 4,520 | 4,520 | |
Series 2022 ZF 12 73, 1.71% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 3,750 | 3,750 | |
Greater Asheville Reg'l. Arpt. Auth. Participating VRDN Series XM 10 11, 1.74% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(g)(h) | 2,100 | 2,100 | |
North Carolina Med. Care Commission Health Care Facilities Rev. Participating VRDN: | |||
Series XF 08 85, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 695 | 695 | |
Series ZL 02 61, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,425 | 3,425 | |
TOTAL NORTH CAROLINA | 14,490 | ||
North Dakota - 0.0% | |||
Grand Forks Health Care Sys. Rev. Participating VRDN Series XL 02 45, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 1,900 | 1,900 | |
Ohio - 0.6% | |||
CommonSpirit Health Participating VRDN Series MIZ 90 20, 1.77% 9/7/22 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(g)(h) | 1,755 | 1,755 | |
Cuyahoga County Ctfs. of Prtn. Participating VRDN Series Floaters XG 02 06, 1.77% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,200 | 1,200 | |
Middletown Hosp. Facilities Rev. Participating VRDN Series Floaters 003, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 7,510 | 7,510 | |
Montgomery County Hosp. Rev. Participating VRDN Series Floaters E 132, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 3,800 | 3,800 | |
Ohio Hosp. Rev. Participating VRDN: | |||
Series 002, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,900 | 3,900 | |
Series C18, 1.71% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 2,400 | 2,400 | |
Ohio Univ. Gen. Receipts Athens Bonds Series Floaters G 27, 1.87%, tender 12/1/22 (Liquidity Facility Royal Bank of Canada) (b)(e)(g)(h) | 2,500 | 2,500 | |
TOTAL OHIO | 23,065 | ||
Oklahoma - 0.1% | |||
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Participating VRDN: | |||
Series Floaters XG 02 10, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 310 | 310 | |
Series XX 12 24, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,200 | 4,200 | |
TOTAL OKLAHOMA | 4,510 | ||
Oregon - 0.4% | |||
Port of Portland Arpt. Rev. Participating VRDN: | |||
Series 2022 YX 11 77, 1.73% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 8,500 | 8,500 | |
Series XM 09 73, 1.74% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(c)(g)(h) | 6,800 | 6,800 | |
Salem Hosp. Facility Auth. Rev. Participating VRDN Series XM 08 13, 1.72% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 1,750 | 1,750 | |
TOTAL OREGON | 17,050 | ||
Pennsylvania - 0.6% | |||
Allegheny County Sanitation Auth. Swr. Rev. Participating VRDN Series Floaters XM 00 82, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,200 | 3,200 | |
Geisinger Auth. Health Sys. Rev. Participating VRDN: | |||
Series Floaters YX 10 49, 1.75% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,320 | 2,320 | |
Series XM 08 87, 1.82% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 1,230 | 1,230 | |
Pennsylvania State Univ. Participating VRDN Series XM 08 27, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,100 | 3,100 | |
Pennsylvania Tpk. Commission Tpk. Rev. Participating VRDN Series BC 22 018, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,200 | 2,200 | |
Philadelphia Arpt. Rev. Participating VRDN Series YX 12 11, 1.74% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 11,245 | 11,245 | |
Philadelphia Auth. for Indl. Dev. Participating VRDN Series XG 02 53, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 2,100 | 2,100 | |
TOTAL PENNSYLVANIA | 25,395 | ||
South Carolina - 0.5% | |||
Columbia Wtrwks. & Swr. Rev. Participating VRDN Series 2016 21, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 7,685 | 7,685 | |
South Carolina Jobs-Econ. Dev. Auth. Hosp. Impt. Rev. Participating VRDN Series XF 09 30, 1.82% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,800 | 3,800 | |
South Carolina Ports Auth. Ports Rev. Participating VRDN: | |||
Series XF 08 20, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 6,410 | 6,410 | |
Series ZF 08 24, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 4,575 | 4,575 | |
TOTAL SOUTH CAROLINA | 22,470 | ||
Tennessee - 0.4% | |||
Metropolitan Nashville Arpt. Auth. Rev. Participating VRDN: | |||
Series XG 02 68, 1.74% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 2,900 | 2,900 | |
Series YX 11 39, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 3,000 | 3,000 | |
Nashville and Davidson County Metropolitan Govt. Health & Edl. Facilities Board Rev. Participating VRDN: | |||
Series Floaters XG 01 45, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 2,000 | 2,000 | |
Series Floaters XL 00 62, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 2,209 | 2,209 | |
Vanderbilt Hosp. Participating VRDN Series 2016 XF 10 54, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,475 | 4,475 | |
TOTAL TENNESSEE | 14,584 | ||
Texas - 0.7% | |||
Austin Arpt. Sys. Rev. Participating VRDN Series YX 11 99, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(g)(h) | 5,800 | 5,800 | |
Dallas County Util. and Reclamation District Participating VRDN Series Floaters CTFS G 99, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(g)(h) | 1,630 | 1,630 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Participating VRDN Series 2021 XG 03 28, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 1,129 | 1,129 | |
Memorial Hermann Hosp. Sys. Participating VRDN Series XF 11 40, 1.73% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(g)(h) | 2,300 | 2,300 | |
North Ft. Bend Wtr. Auth. Participating VRDN Series XF 08 16, 1.77% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,075 | 3,075 | |
North Texas Tollway Auth. Rev. Bonds Series G-112, 1.87%, tender 1/3/23 (Liquidity Facility Royal Bank of Canada) (b)(e)(g)(h) | 3,000 | 3,000 | |
San Antonio Pub. Facilities Corp. and Rfdg. Lease Participating VRDN Series Floaters XF 06 41, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,000 | 2,000 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Participating VRDN: | |||
Series 16 XF0411, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 6,900 | 6,900 | |
Series XG 02 78, 1.71% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 2,880 | 2,880 | |
TOTAL TEXAS | 28,714 | ||
Utah - 0.1% | |||
Utah County Hosp. Rev. Participating VRDN Series XM 10 03, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,440 | 2,440 | |
Virginia - 0.5% | |||
Fairfax County Indl. Dev. Auth. Participating VRDN Series ZL 02 28, 1.7% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g)(h) | 6,500 | 6,500 | |
Loudoun County Gen. Oblig. Participating VRDN Series Solar 2017 38, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 2,900 | 2,900 | |
Univ. of Virginia Gen. Rev. Participating VRDN Series Solar 17 17, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(g)(h) | 3,225 | 3,225 | |
Virginia Pub. Bldg. Auth. Pub. Facilities Rev. Bonds Series Floaters G 40, 1.87%, tender 2/1/23 (Liquidity Facility Royal Bank of Canada) (b)(e)(g)(h) | 1,300 | 1,300 | |
Virginia Small Bus. Fing. Auth. Health Care Facilities Rev. Participating VRDN: | |||
Series XF 09 26, 1.82% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 3,935 | 3,935 | |
Series ZF 09 27, 1.82% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(g)(h) | 2,560 | 2,560 | |
TOTAL VIRGINIA | 20,420 | ||
Washington - 2.0% | |||
CommonSpirit Health Participating VRDN Series XF 1017, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 22,000 | 22,000 | |
Port of Seattle Rev. Participating VRDN: | |||
Series Floaters XF 05 22, 1.73% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(g)(h) | 3,600 | 3,600 | |
Series Floaters XM 06 65, 1.77% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 12,700 | 12,700 | |
Series Floaters ZM 06 69, 1.77% 9/7/22 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(g)(h) | 9,700 | 9,700 | |
Series XF 13 71, 1.8% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 4,300 | 4,300 | |
Series XF 26 30, 1.76% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(g)(h) | 8,480 | 8,480 | |
Series XM 08 75, 1.77% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(g)(h) | 2,950 | 2,950 | |
Port of Tacoma Rev. Participating VRDN Series Floaters XF 06 58, 1.75% 9/7/22 (Liquidity Facility Bank of America NA) (b)(c)(g)(h) | 5,410 | 5,410 | |
Washington Convention Ctr. Pub. Facilities Participating VRDN: | |||
Series Floaters XM 06 81, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 4,835 | 4,835 | |
Series XG 02 92, 1.71% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 3,700 | 3,700 | |
Washington Health Care Facilities Auth. Rev. Participating VRDN Series YX 12 10, 1.77% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(g)(h) | 1,600 | 1,600 | |
Washington Higher Ed. Facilities Auth. Rev. Participating VRDN Series XG 02 74, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,455 | 1,455 | |
TOTAL WASHINGTON | 80,730 | ||
Wyoming - 0.0% | |||
Cheyenne Reg'l. Med. Ctr. Participating VRDN Series XL 13 45, 1.72% 9/7/22 (Liquidity Facility Bank of America NA) (b)(g)(h) | 1,920 | 1,920 | |
TOTAL TENDER OPTION BOND (Cost $1,607,668) | 1,607,668 | ||
Other Municipal Security - 15.0% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Arizona - 0.1% | |||
Maricopa County Rev. Bonds Series B, 5%, tender 10/18/22 (b) | 770 | 773 | |
Salt River Proj. Agricultural Impt. & Pwr. District Elec. Sys. Rev. Bonds Series 2019 A, 5% 1/1/23 | 3,500 | 3,536 | |
TOTAL ARIZONA | 4,309 | ||
Colorado - 0.0% | |||
Colorado Health Facilities Auth. Rev. Bonds Series 2012 B, 5% 12/1/22 (Pre-Refunded to 12/1/22 @ 100) | 2,000 | 2,016 | |
Connecticut - 0.0% | |||
Connecticut Gen. Oblig. Bonds Series 2022, 4% 9/15/22 | 700 | 701 | |
District Of Columbia - 0.1% | |||
Metropolitan Washington DC Arpts. Auth. Sys. Rev. Bonds: | |||
Series 2012 A, 5% 10/1/22 (Escrowed to Maturity) (c) | 1,000 | 1,002 | |
Series 2021 A, 5% 10/1/22 (c) | 5,195 | 5,209 | |
TOTAL DISTRICT OF COLUMBIA | 6,211 | ||
Florida - 3.0% | |||
Broward County Arpt. Sys. Rev. Bonds Series 2012 Q2, 5% 10/1/22 (Pre-Refunded to 10/1/22 @ 100) (c) | 2,000 | 2,005 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Bonds Series 2019 A, 5% 10/1/22 (c) | 4,105 | 4,116 | |
Jacksonville Port Auth. Rev. Bonds Series 2012, 5% 11/1/22 (Pre-Refunded to 11/1/22 @ 100) (c) | 1,545 | 1,552 | |
Miami-Dade County Series 2022 B1, 1.52% 10/4/22, LOC Bank of America NA, CP (c) | 4,600 | 4,600 | |
Miami-Dade County Aviation Rev.: | |||
Bonds Series 2012 A: | |||
5% 10/1/22 (Pre-Refunded to 10/1/22 @ 100) (c) | 6,250 | 6,266 | |
5% 10/1/22 (Pre-Refunded to 10/1/22 @ 100) (c) | 1,300 | 1,303 | |
5% 10/1/22 (Pre-Refunded to 10/1/22 @ 100) (c) | 1,015 | 1,017 | |
Series 2022, 1.85% 9/12/22, LOC Bank of America NA, CP (c) | 1,800 | 1,800 | |
Polk County Indl. Dev. Auth. Health Sys. Rev. Bonds: | |||
Series 2014 A, SIFMA Municipal Swap Index + 0.300% 1.97%, tender 3/29/23 (b)(i) | 28,200 | 28,200 | |
Series 2014 A1, SIFMA Municipal Swap Index + 0.250% 1.92%, tender 3/29/23 (b)(i) | 28,900 | 28,900 | |
Tampa Health Sys. Rev. Bonds Series 2012 B, SIFMA Municipal Swap Index + 0.300% 1.97%, tender 3/29/23 (b)(i) | 42,015 | 42,015 | |
TOTAL FLORIDA | 121,774 | ||
Illinois - 1.1% | |||
Chicago Gen. Oblig. Bonds Series 2016 C, 5% 1/1/23 (Escrowed to Maturity) | 4,885 | 4,939 | |
Illinois Fin. Auth. Rev. Bonds (Advocate Health Care Network Proj.) Series 2011 B, SIFMA Municipal Swap Index + 0.300% 1.97%, tender 3/29/23 (b)(i) | 40,690 | 40,690 | |
TOTAL ILLINOIS | 45,629 | ||
Kentucky - 0.1% | |||
Kentucky State Property & Buildings Commission Rev. Bonds Series B, 5% 11/1/22 | 2,560 | 2,572 | |
Massachusetts - 0.3% | |||
Massachusetts Dev. Fin. Agcy. Elec. Util. Rev. Bonds Series 2022, 1.85% tender 9/8/22 (Massachusetts Elec. Co. Guaranteed), CP mode (c) | 2,900 | 2,900 | |
Massachusetts Indl. Fin. Agcy. Poll. Cont. Rev. Bonds Series 2022, 1.8% tender 9/12/22, CP mode | 5,237 | 5,237 | |
Nantucket Gen. Oblig. BAN Series 2022, 3% 10/14/22 | 3,135 | 3,140 | |
TOTAL MASSACHUSETTS | 11,277 | ||
Michigan - 1.1% | |||
Kent Hosp. Fin. Auth. Hosp. Facilities Rev. Bonds (Spectrum Health Sys. Proj.) Series 2015 A, SIFMA Municipal Swap Index + 0.250% 1.92%, tender 3/29/23 (b)(i) | 17,245 | 17,245 | |
Michigan Bldg. Auth. Rev. Series 2022 9, 2.06% 11/17/22, LOC JPMorgan Chase Bank, CP | 23,300 | 23,300 | |
Michigan Fin. Auth. Rev. Bonds: | |||
Series 2013 M1, 1.35%, tender (b) | 3,500 | 3,500 | |
Series 2017 A, 5% 12/1/22 (Pre-Refunded to 12/1/22 @ 100) | 1,300 | 1,309 | |
TOTAL MICHIGAN | 45,354 | ||
New Jersey - 0.0% | |||
Summit Gen. Oblig. BAN Series 2021, 2% 10/21/22 | 2 | 2 | |
New York - 0.0% | |||
Oyster Bay Gen. Oblig. BAN Series 2022, 3% 3/9/23 | 1 | 1 | |
New York And New Jersey - 1.7% | |||
Port Auth. of New York & New Jersey: | |||
Bonds: | |||
Series 2013, 5% 12/1/22 (c) | 2,635 | 2,655 | |
Series 2016 195, 5% 10/1/22 (c) | 2,055 | 2,060 | |
Series 2018, 5% 9/15/22 (c) | 1,075 | 1,076 | |
Series 2022 A: | |||
1.48% 9/1/22, CP (c) | 22,370 | 22,370 | |
1.65% 10/6/22, CP (c) | 7,670 | 7,670 | |
2.02% 9/15/22, CP (c) | 11,680 | 11,680 | |
2.15% 10/13/22, CP (c) | 21,400 | 21,400 | |
TOTAL NEW YORK AND NEW JERSEY | 68,911 | ||
Pennsylvania - 0.2% | |||
Univ. of Pittsburgh Commonwealth Sys. of Higher Ed. Bonds Series 2022 B2, 1.67% tender 10/20/22, CP mode | 6,600 | 6,600 | |
Tennessee - 0.3% | |||
Memphis Gen. Oblig. Series 2022 A, 1.38% 9/7/22 (Liquidity Facility State Street Bank & Trust Co., Boston), CP | 5,500 | 5,500 | |
Shelby County Health Edl. & Hsg. Facility Board Residential Care Facilitiy Mtg. Rev. Bonds Series 2012: | |||
5% 12/1/22 (Pre-Refunded to 12/1/22 @ 100) | 2,075 | 2,090 | |
5.25% 12/1/22 (Pre-Refunded to 12/1/22 @ 100) | 2,000 | 2,015 | |
5.375% 12/1/22 (Pre-Refunded to 12/1/22 @ 100) | 3,500 | 3,528 | |
TOTAL TENNESSEE | 13,133 | ||
Texas - 6.5% | |||
Austin Elec. Util. Sys. Rev.: | |||
Series 2022 A, 1.85% 9/22/22 (Liquidity Facility JPMorgan Chase Bank), CP | 7,200 | 7,200 | |
Series 2022, 1.42% 9/15/22 (Liquidity Facility JPMorgan Chase Bank), CP | 7,600 | 7,600 | |
Dallas Fort Worth Int'l. Arpt. Rev. Bonds: | |||
Series 2013 C, 5.125% 11/1/22 (Pre-Refunded to 11/1/22 @ 100) (c) | 4,050 | 4,071 | |
Series 2014 B, 4.5% 11/1/22 (Pre-Refunded to 11/1/22 @ 100) (c) | 1,000 | 1,004 | |
Garland Series 2022, 1.55% 9/15/22, LOC Barclays Bank PLC, CP | 4,400 | 4,400 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Bonds: | |||
(Texas Children's Hosp. Proj.) Series 2015 2, SIFMA Municipal Swap Index + 0.200% 1.87%, tender 3/29/23 (b)(i) | 33,900 | 33,900 | |
Series 2020 C, 5%, tender (b) | 1,000 | 1,007 | |
Series 2022 B3, 1.3% tender 10/3/22, CP mode | 13,000 | 13,000 | |
Series 2022, 1.45% tender 9/2/22, CP mode | 13,400 | 13,400 | |
Harris County Flood District Cont. Ctfs. of Prtn. Series 2022 H, 1.85% 9/21/22 (Liquidity Facility JPMorgan Chase Bank), CP | 20,000 | 20,000 | |
Harris County Gen. Oblig. Series 2022 D, 1.9% 10/6/22 (Liquidity Facility JPMorgan Chase Bank), CP | 2,800 | 2,800 | |
Harris County Metropolitan Trans. Auth.: | |||
Series 2022 A1, 1.35% 10/6/22 (Liquidity Facility JPMorgan Chase Bank), CP | 7,700 | 7,700 | |
Series 2022 A3, 1.33% 10/6/22 (Liquidity Facility State Street Bank & Trust Co., Boston), CP | 4,000 | 4,000 | |
Houston Arpt. Sys. Rev. Series 2022 A: | |||
1.35% 9/2/22, LOC Sumitomo Mitsui Banking Corp., CP (c) | 18,400 | 18,400 | |
1.95% 10/3/22, LOC Sumitomo Mitsui Banking Corp., CP (c) | 10,700 | 10,700 | |
Houston Gen. Oblig. Series 2022 G2, 1.95% 10/6/22, LOC Barclays Bank PLC, CP | 1,600 | 1,600 | |
Love Field Arpt. Modernization Rev. Series 2022, 2.05% 9/16/22, LOC JPMorgan Chase Bank, CP (c) | 22,800 | 22,800 | |
Lower Colorado River Auth. Rev. Series 2022, 1.97% 10/20/22, LOC JPMorgan Chase Bank, LOC State Street Bank & Trust Co., Boston, CP | 5,500 | 5,500 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Bonds (Baylor Health Care Sys. Proj.): | |||
Series 2011 B, BMA Municipal Swap Index + 0.300% 1.97%, tender 3/29/23 (b)(i) | 31,700 | 31,700 | |
Series 2013 B, SIFMA Municipal Swap Index + 0.300% 1.97%, tender 3/29/23 (b)(i) | 31,000 | 31,000 | |
Univ. of Texas Board of Regents Sys. Rev. Series 2022 A: | |||
1.92% 10/20/22 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,700 | 7,700 | |
1.94% 9/15/22 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,800 | 7,800 | |
1.98% 11/2/22 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 3,900 | 3,900 | |
2% 11/1/22 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 1,900 | 1,900 | |
Univ. of Texas Permanent Univ. Fund Rev. Series 2022 A, 2.3% 1/10/23, CP | 4,600 | 4,600 | |
TOTAL TEXAS | 267,682 | ||
Washington - 0.2% | |||
King County Gen. Oblig. Series 2022 A: | |||
1.92% 9/27/22, CP | 4,600 | 4,600 | |
1.95% 9/21/22, CP | 1,700 | 1,700 | |
Port of Seattle Rev. Bonds Series 2018 A, 5% 5/1/23 (c) | 3,320 | 3,369 | |
TOTAL WASHINGTON | 9,669 | ||
Wisconsin - 0.3% | |||
Wisconsin Gen. Oblig. Series 2022: | |||
1.98% 5/15/23, CP | 7,200 | 7,200 | |
2.1% 5/15/23, CP | 4,300 | 4,300 | |
TOTAL WISCONSIN | 11,500 | ||
TOTAL OTHER MUNICIPAL SECURITY (Cost $617,341) | 617,341 | ||
Investment Company - 3.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Municipal Cash Central Fund 1.45% (j)(k) (Cost $135,814) | 135,789 | 135,814 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $4,123,107) | 4,123,107 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (847) |
NET ASSETS - 100.0% | 4,122,260 |
BAN | - | BOND ANTICIPATION NOTE |
CP | - | COMMERCIAL PAPER |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $63,000,000 or 1.5% of net assets. |
(e) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $21,600,000 or 0.5% of net assets. |
(f) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(g) | Provides evidence of ownership in one or more underlying municipal bonds. |
(h) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(i) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(j) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Cost ($) (000s) |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev. Bonds Series Floaters G 110, 1.85%, tender 4/3/23 (Liquidity Facility Royal Bank of Canada) | 4/01/21 | 5,400 |
Denver City & County Arpt. Rev. Bonds Series G-114, 1.92%, tender 12/1/22 (Liquidity Facility Royal Bank of Canada) | 6/01/21 | 1,600 |
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Bonds Series Floaters G 25, 1.92%, tender 4/3/23 (Liquidity Facility Royal Bank of Canada) | 4/01/21 | 2,200 |
Kentucky State Property & Buildings Commission Rev. Bonds Series G 116, 1.87%, tender 11/1/22 (Liquidity Facility Royal Bank of Canada) | 5/03/21 | 1,200 |
North Texas Tollway Auth. Rev. Bonds Series G-112, 1.87%, tender 1/3/23 (Liquidity Facility Royal Bank of Canada) | 7/01/21 | 3,000 |
Ohio Univ. Gen. Receipts Athens Bonds Series Floaters G 27, 1.87%, tender 12/1/22 (Liquidity Facility Royal Bank of Canada) | 6/01/21 | 2,500 |
Port Auth. of New York & New Jersey Series 1992 2, 1.72% 9/30/22, VRDN | 7/15/20 | 500 |
Port Auth. of New York & New Jersey Series 1995 4, 1.75% 9/30/22, VRDN | 8/17/20 | 3,900 |
Virginia Pub. Bldg. Auth. Pub. Facilities Rev. Bonds Series Floaters G 40, 1.87%, tender 2/1/23 (Liquidity Facility Royal Bank of Canada) | 2/01/21 | 1,300 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | %ownership, end of period |
Fidelity Municipal Cash Central Fund 1.45% | 453,999 | 1,623,823 | 1,942,008 | 769 | - | - | 135,814 | 8.2% |
Total | 453,999 | 1,623,823 | 1,942,008 | 769 | - | - | 135,814 | |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amount) | August 31, 2022 | |||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | $3,987,293 | |||
Unaffiliated issuers (cost $3,987,293) | ||||
Fidelity Central Funds (cost $135,814) | 135,814 | |||
Total Investment in Securities (cost $4,123,107) | $ | 4,123,107 | ||
Cash | 1 | |||
Receivable for securities sold on a delayed delivery basis | 4,470 | |||
Receivable for fund shares sold | 2,846 | |||
Interest receivable | 9,325 | |||
Distributions receivable from Fidelity Central Funds | 244 | |||
Prepaid expenses | 7 | |||
Other receivables | 1 | |||
Total assets | 4,140,001 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $8,475 | |||
Delayed delivery | 2,000 | |||
Payable for fund shares redeemed | 5,559 | |||
Distributions payable | 244 | |||
Accrued management fee | 854 | |||
Other affiliated payables | 560 | |||
Other payables and accrued expenses | 49 | |||
Total Liabilities | 17,741 | |||
Net Assets | $ | 4,122,260 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 4,122,625 | ||
Total accumulated earnings (loss) | (365) | |||
Net Assets | $ | 4,122,260 | ||
Net Asset Value , offering price and redemption price per share ($4,122,260 ÷ 4,114,986 shares) | $ | 1.00 | ||
Statement of Operations | ||||
Amounts in thousands | Year ended August 31, 2022 | |||
Investment Income | ||||
Interest | $ | 21,426 | ||
Income from Fidelity Central Funds | 767 | |||
Total Income | 22,193 | |||
Expenses | ||||
Management fee | $ | 10,904 | ||
Transfer agent fees | 6,796 | |||
Accounting fees and expenses | 383 | |||
Custodian fees and expenses | 42 | |||
Independent trustees' fees and expenses | 15 | |||
Registration fees | 72 | |||
Audit | 44 | |||
Legal | 4 | |||
Miscellaneous | 12 | |||
Total expenses before reductions | 18,272 | |||
Expense reductions | (6,871) | |||
Total expenses after reductions | 11,401 | |||
Net Investment income (loss) | 10,792 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (39) | |||
Capital gain distributions from Fidelity Central Funds | 2 | |||
Total net realized gain (loss) | (37) | |||
Net increase in net assets resulting from operations | $ | 10,755 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended August 31, 2022 | Year ended August 31, 2021 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 10,792 | $ | 503 |
Net realized gain (loss) | (37) | 750 | ||
Net increase in net assets resulting from operations | 10,755 | 1,253 | ||
Distributions to shareholders | (11,388) | (501) | ||
Share transactions | ||||
Proceeds from sales of shares | 689,167 | 453,452 | ||
Reinvestment of distributions | 10,791 | 477 | ||
Cost of shares redeemed | (1,224,861) | (1,237,254) | ||
Net increase (decrease) in net assets and shares resulting from share transactions | (524,903) | (783,325) | ||
Total increase (decrease) in net assets | (525,536) | (782,573) | ||
Net Assets | ||||
Beginning of period | 4,647,796 | 5,430,369 | ||
End of period | $ | 4,122,260 | $ | 4,647,796 |
Other Information | ||||
Shares | ||||
Sold | 689,167 | 453,452 | ||
Issued in reinvestment of distributions | 10,791 | 477 | ||
Redeemed | (1,224,861) | (1,237,254) | ||
Net increase (decrease) | (524,903) | (783,325) | ||
Fidelity® Municipal Money Market Fund |
Years ended August 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A | .003 | - B | .007 | .013 | .009 | |||||
Net realized and unrealized gain (loss) | - B | - B | .001 | - B | - B | |||||
Total from investment operations | .003 | - B | .008 | .013 | .009 | |||||
Distributions from net investment income | (.003) | - B | (.007) | (.013) | (.009) | |||||
Distributions from net realized gain | - B | - | (.001) | - B | - | |||||
Total distributions | (.003) | - B | (.008) | (.013) | (.009) | |||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Total Return C | .27% | .01% | .76% | 1.30% | .89% | |||||
Ratios to Average Net Assets A,D,E | ||||||||||
Expenses before reductions | .41% | .41% | .42% | .42% | .41% | |||||
Expenses net of fee waivers, if any | .26% | .16% | .41% | .42% | .41% | |||||
Expenses net of all reductions | .26% | .16% | .41% | .42% | .41% | |||||
Net investment income (loss) | .24% | .01% | .71% | 1.29% | .87% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 4,122 | $ | 4,648 | $ | 5,430 | $ | 6,546 | $ | 8,219 |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $ - |
Gross unrealized depreciation | - |
Net unrealized appreciation (depreciation) | $ - |
Tax Cost | $ 4,123,107 |
August 31, 2022 | August 31, 2021 | |
Tax-exempt Income | 10,791 | 501 |
Long-term Capital Gains | 597 | - |
Total | $ 11,388 | $ 501 |
% of Average Net Assets | |
Fidelity Municipal Money Market Fund | .01 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Municipal Money Market Fund | 268,553 | 331,832 | (4) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (March 1, 2022 to August 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value March 1, 2022 | Ending Account Value August 31, 2022 | Expenses Paid During Period- C March 1, 2022 to August 31, 2022 | |||||||
Fidelity® Municipal Money Market Fund | .40% | |||||||||
Actual | $ 1,000 | $ 1,002.50 | $ 2.02 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.19 | $ 2.04 | |||||||
![]() |
![](https://capedge.com/proxy/N-CSR/0000880797-22-000083/img85525_1.jpg)
![](https://capedge.com/proxy/N-CSR/0000880797-22-000083/img85525_2.jpg)
Contents
Average Annual Total Returns | |||
Periods ended August 31, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Arizona Municipal Income Fund | -9.07% | 0.84% | 2.12% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Arizona Municipal Income Fund on August 31, 2012. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Municipal Bond Index performed over the same period. |
![]() |
Revenue Sources (% of Fund's net assets) | ||
Education | 24.0% | |
Health Care | 23.4% | |
Transportation | 12.4% | |
General Obligations | 11.8% | |
Water & Sewer | 9.1% | |
Special Tax | 8.9% | |
Others* (Individually Less Than 5%) | 10.4% | |
100.0% | ||
*Includes net other assets |
Quality Diversification (% of Fund's net assets) |
![]() |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Municipal Bonds - 99.3% | |||
Principal Amount (a) | Value ($) | ||
Arizona - 98.4% | |||
Apache County Ariz Unified School Distn Series 2022: | |||
5% 7/1/35 | 500,000 | 545,370 | |
5% 7/1/36 | 500,000 | 543,977 | |
Arizona Board of Regents Arizona State Univ. Rev.: | |||
Series 2015 A, 5% 7/1/35 | 2,215,000 | 2,339,501 | |
Series 2015 B, 5% 7/1/31 | 1,525,000 | 1,620,114 | |
Series 2015 D: | |||
5% 7/1/34 | 500,000 | 528,383 | |
5% 7/1/35 | 900,000 | 950,587 | |
5% 7/1/41 | 525,000 | 551,588 | |
Arizona Ctfs. of Prtn. Series 2015: | |||
5% 9/1/27 | 290,000 | 310,143 | |
5% 9/1/27 (Pre-Refunded to 9/1/25 @ 100) | 1,210,000 | 1,293,685 | |
Arizona Game and Fish Dept. and Commission (AGF Administration Bldg. Proj.) Series 2006, 5% 7/1/32 | 470,000 | 470,975 | |
Arizona Health Facilities Auth. Rev.: | |||
(Banner Health Sys. Proj.) Series 2007 B, 3 month U.S. LIBOR + 0.810% 2.336%, tender 1/1/37 (b)(c) | 1,000,000 | 943,926 | |
(Scottsdale Lincoln Hospitals Proj.) Series 2014 A: | |||
5% 12/1/26 | 2,000,000 | 2,094,733 | |
5% 12/1/42 | 2,325,000 | 2,394,420 | |
Arizona Indl. Dev. Auth. Hosp. Rev.: | |||
Series 2020 A: | |||
4% 2/1/50 | 2,005,000 | 1,829,257 | |
5% 2/1/40 | 700,000 | 750,030 | |
Series 2021 A: | |||
4% 2/1/39 | 500,000 | 487,874 | |
4% 2/1/40 | 1,000,000 | 970,525 | |
Arizona Indl. Dev. Auth. Lease Rev. Series 2020 A: | |||
4% 9/1/35 | 200,000 | 196,881 | |
4% 9/1/36 | 355,000 | 348,345 | |
4% 9/1/46 | 1,000,000 | 926,532 | |
Arizona State Trans. Board: | |||
Series 2017 A, 5% 7/1/32 | 1,500,000 | 1,642,797 | |
Series 2017A, 5% 7/1/31 | 385,000 | 422,927 | |
Arizona State Univ. Revs.: | |||
Series 2019 A, 5% 7/1/43 | 1,000,000 | 1,080,448 | |
Series 2020 A: | |||
4% 7/1/40 | 1,300,000 | 1,307,515 | |
5% 7/1/39 | 390,000 | 430,990 | |
5% 7/1/43 | 2,925,000 | 3,190,147 | |
Buckeye Excise Tax Rev. Series 2015: | |||
5% 7/1/27 | 350,000 | 373,309 | |
5% 7/1/28 | 500,000 | 531,607 | |
5% 7/1/29 | 455,000 | 483,123 | |
Central Wtr. Conservation District (Central Arizona Proj.) Series 2016 A, 5% 1/1/36 | 500,000 | 530,801 | |
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.) Series 2019, 5%, tender 6/3/24 (b)(d) | 3,700,000 | 3,819,791 | |
Glendale Union School District 205 Series A: | |||
4% 7/1/38 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,005,663 | |
4% 7/1/39 (Assured Guaranty Muni. Corp. Insured) | 1,000,000 | 1,002,504 | |
Glendale Gen. Oblig. Series 2017: | |||
5% 7/1/30 | 2,310,000 | 2,545,249 | |
5% 7/1/32 | 1,000,000 | 1,094,726 | |
Glendale Indl. dev auth Sr Living Facilities Rev. (Royal Oaks Inspirata Pointe Proj.) Series 2020 A, 5% 5/15/56 | 1,000,000 | 939,614 | |
Glendale Indl. Dev. Auth. (Terraces of Phoenix Proj.) Series 2018 A: | |||
4% 7/1/28 | 265,000 | 249,930 | |
5% 7/1/33 | 435,000 | 415,344 | |
Glendale Sr. Excise Tax Rev. Series 2015 A, 5% 7/1/28 | 1,000,000 | 1,067,444 | |
Goodyear Pub. Impt. Corp. Facilities Rev. Series 2016 A, 5% 7/1/29 | 1,000,000 | 1,085,249 | |
Maricopa County Indl. Dev. Auth.: | |||
(Creighton Univ. Proj.) Series 2020, 5% 7/1/47 | 2,000,000 | 2,106,051 | |
Series 2019 A: | |||
5% 9/1/29 | 310,000 | 339,258 | |
5% 9/1/33 | 275,000 | 296,175 | |
5% 9/1/34 | 680,000 | 729,842 | |
5% 9/1/35 | 395,000 | 423,127 | |
Series 2021 A, 4% 9/1/51 | 1,500,000 | 1,373,294 | |
Maricopa County Indl. Dev. Auth. Sr. Living Facilities Series 2016: | |||
5.75% 1/1/36 (e) | 500,000 | 405,911 | |
6% 1/1/48 (e) | 500,000 | 374,015 | |
Maricopa County Phoenix Union High School District #210 Series 2017 B: | |||
5% 7/1/32 | 1,180,000 | 1,319,061 | |
5% 7/1/34 | 585,000 | 649,184 | |
Maricopa County Rev.: | |||
Bonds: | |||
Series 2019 D, 5%, tender 5/15/26 (b) | 200,000 | 215,270 | |
Series C, 5%, tender 10/18/24 (b) | 125,000 | 130,723 | |
Series 2016 A: | |||
5% 1/1/23 | 40,000 | 40,355 | |
5% 1/1/25 | 105,000 | 110,732 | |
5% 1/1/34 | 2,935,000 | 3,123,120 | |
5% 1/1/38 | 2,320,000 | 2,439,393 | |
Series 2019 F, 4% 1/1/45 | 1,000,000 | 950,439 | |
Maricopa County School District #214 Tolleson Series 2018 A, 5% 7/1/31 | 350,000 | 385,810 | |
Maricopa County School District #28 Kyrene Elementary: | |||
Series 2015 C, 4% 7/1/29 | 650,000 | 676,201 | |
Series 2019 A, 5% 7/1/37 | 1,000,000 | 1,100,109 | |
Maricopa County Spl. Health Care District Gen. Oblig. Series 2018 C, 5% 7/1/36 | 1,000,000 | 1,091,509 | |
Maricopa County Unified School District #48 Scottsdale: | |||
Series 2017 B, 5% 7/1/33 | 3,015,000 | 3,299,174 | |
Series D, 4% 7/1/34 | 350,000 | 369,545 | |
Maricopa County Unified School District #69 Paradise Valley Series 2022, 5% 7/1/31 | 105,000 | 122,303 | |
McAllister Academic Village LLC Rev.: | |||
(Arizona State Univ. Hassayampa Academic Village Proj.) Series 2016: | |||
5% 7/1/37 | 2,000,000 | 2,125,448 | |
5% 7/1/38 | 3,850,000 | 4,080,086 | |
Series 2016, 5% 7/1/39 | 2,270,000 | 2,403,984 | |
Mesa Util. Sys. Rev.: | |||
Series 2019 A, 5% 7/1/43 | 2,015,000 | 2,193,616 | |
Series 2021: | |||
4% 7/1/35 | 1,000,000 | 1,039,881 | |
5% 7/1/45 | 1,000,000 | 1,106,746 | |
Northern Arizona Univ. Revs.: | |||
Series 2014, 5% 6/1/29 | 500,000 | 517,784 | |
Series 2015, 5% 6/1/30 | 1,000,000 | 1,055,992 | |
Series 2020 B, 5% 6/1/37 (Build America Mutual Assurance Insured) | 1,000,000 | 1,106,782 | |
Phoenix Civic Impt. Board Arpt. Rev.: | |||
Series 2013: | |||
5% 7/1/26 (d) | 1,100,000 | 1,117,194 | |
5% 7/1/29 (d) | 500,000 | 507,772 | |
Series 2015 A, 5% 7/1/45 | 4,100,000 | 4,272,174 | |
Series 2017 A: | |||
5% 7/1/33 (d) | 25,000 | 26,595 | |
5% 7/1/35 (d) | 2,425,000 | 2,565,331 | |
5% 7/1/42 (d) | 2,000,000 | 2,076,952 | |
Series 2017 D, 5% 7/1/31 | 2,000,000 | 2,190,484 | |
Series 2019 A, 5% 7/1/49 | 2,220,000 | 2,344,274 | |
Phoenix Civic Impt. Corp. Series 2019 A: | |||
5% 7/1/29 | 185,000 | 207,513 | |
5% 7/1/35 | 1,000,000 | 1,085,306 | |
Phoenix Civic Impt. Corp. District Rev. (Plaza Expansion Proj.) Series 2005 B, 5.5% 7/1/38 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,000,000 | 2,433,256 | |
Phoenix Civic Impt. Corp. Excise Tax Rev. Series 2022, 5% 7/1/37 | 1,000,000 | 1,141,810 | |
Phoenix Civic Impt. Corp. Wastewtr. Sys. Rev. Series 2016, 5% 7/1/33 | 1,000,000 | 1,075,796 | |
Phoenix Civic Impt. Corp. Wtr. Sys. Rev. Series 2021 A: | |||
5% 7/1/35 | 1,190,000 | 1,360,454 | |
5% 7/1/39 | 2,700,000 | 3,014,849 | |
5% 7/1/45 | 2,000,000 | 2,186,553 | |
Phoenix IDA Student Hsg. Rev.: | |||
(Downtown Phoenix Student Hsg. II LLC Arizona State Univ. Proj.) Series 2019 A, 5% 7/1/36 | 1,175,000 | 1,199,446 | |
Series 2018 A, (Downtown Phoenix Student Hsg., LLC AZ State Univ. Proj.) 5% 7/1/42 | 1,500,000 | 1,510,451 | |
Phoenix-Mesa Gateway Arpt. Auth. (Mesa Proj.) Series 2012: | |||
5% 7/1/24 (d) | 380,000 | 380,661 | |
5% 7/1/27 (d) | 400,000 | 400,809 | |
Pima County Ctfs. of Prtn. Series 2014, 5% 12/1/27 | 1,745,000 | 1,799,227 | |
Pima County Indl. Dev. Auth. Rev. Series 2021 A, 4% 4/1/46 | 2,000,000 | 1,811,091 | |
Salt River Proj. Agricultural Impt. & Pwr. District Elec. Sys. Rev.: | |||
Series 2015 A, 5% 12/1/34 | 1,600,000 | 1,690,891 | |
Series 2019 A, 5% 1/1/35 | 395,000 | 443,543 | |
Series A, 5% 1/1/37 | 880,000 | 980,385 | |
Salt Verde Finl. Corp. Sr. Gas Rev. Series 2007: | |||
5% 12/1/37 | 2,910,000 | 3,069,531 | |
5.5% 12/1/29 | 3,000,000 | 3,309,564 | |
Scottsdale Gen. Oblig. Series 2017, 4% 7/1/32 | 400,000 | 419,782 | |
Tempe Excise Tax Rev. Series 2016: | |||
5% 7/1/28 | 315,000 | 343,294 | |
5% 7/1/29 | 500,000 | 543,576 | |
5% 7/1/30 | 325,000 | 352,706 | |
5% 7/1/31 | 375,000 | 406,399 | |
Tempe Indl. Dev. Auth. Rev. (Friendship Village of Tempe Proj.) Series 2021 A, 4% 12/1/46 | 1,000,000 | 785,747 | |
Tucson Wtr. Rev. Series 2017, 5% 7/1/34 | 1,000,000 | 1,091,425 | |
Univ. of Arizona Univ. Revs.: | |||
Series 2014, 5% 8/1/28 | 1,000,000 | 1,038,934 | |
Series 2015 A, 5% 6/1/30 | 2,500,000 | 2,651,546 | |
Series 2016, 5% 6/1/38 | 1,000,000 | 1,060,735 | |
Series 2019 A, 5% 6/1/41 | 1,965,000 | 2,142,582 | |
Series 2020 C, 5% 8/1/28 | 900,000 | 1,017,154 | |
Western Maricopa Ed. Ctr. District Series 2019 B, 5% 7/1/28 | 1,315,000 | 1,488,026 | |
Yavapai County Indl. Dev. Auth.: | |||
Series 2012 A, 5.25% 8/1/33 | 2,000,000 | 2,045,684 | |
Series 2016, 5% 8/1/36 | 1,305,000 | 1,347,715 | |
Series 2019: | |||
4% 8/1/43 | 350,000 | 334,322 | |
5% 8/1/24 | 325,000 | 337,284 | |
5% 8/1/25 | 400,000 | 422,540 | |
5% 8/1/26 | 600,000 | 642,271 | |
5% 8/1/27 | 625,000 | 676,202 | |
5% 8/1/39 | 1,060,000 | 1,110,014 | |
Yuma Indl. Dev. Auth. Hosp. Rev. Series 2014 A, 5% 8/1/27 | 2,000,000 | 2,074,372 | |
TOTAL ARIZONA | 147,551,166 | ||
Guam - 0.1% | |||
Guam Int'l. Arpt. Auth. Rev. Series 2013 C, 6.375% 10/1/43 (d) | 95,000 | 97,677 | |
Puerto Rico - 0.8% | |||
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1: | |||
0% 7/1/33 | 435,874 | 247,415 | |
5.625% 7/1/27 | 50,000 | 52,993 | |
5.625% 7/1/29 | 150,000 | 161,279 | |
5.75% 7/1/31 | 365,000 | 399,591 | |
Puerto Rico Indl., Tourist, Edl., Med. And Envir. Cont. Facilities Fing. Auth. Series 2021: | |||
4% 7/1/41 | 50,000 | 44,101 | |
5% 7/1/27 | 125,000 | 135,024 | |
5% 7/1/32 | 95,000 | 104,115 | |
TOTAL PUERTO RICO | 1,144,518 | ||
TOTAL MUNICIPAL BONDS (Cost $155,535,204) | 148,793,361 | ||
TOTAL INVESTMENT IN SECURITIES - 99.3% (Cost $155,535,204) | 148,793,361 |
NET OTHER ASSETS (LIABILITIES) - 0.7% | 1,068,592 |
NET ASSETS - 100.0% | 149,861,953 |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(d) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $779,926 or 0.5% of net assets. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Municipal Securities | 148,793,361 | - | 148,793,361 | - |
Total Investments in Securities: | 148,793,361 | - | 148,793,361 | - |
Statement of Assets and Liabilities | ||||
August 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $155,535,204): | $ | 148,793,361 | ||
Cash | 538,318 | |||
Receivable for fund shares sold | 929 | |||
Interest receivable | 1,322,776 | |||
Other receivables | 369 | |||
Total assets | 150,655,753 | |||
Liabilities | ||||
Payable for fund shares redeemed | $614,923 | |||
Distributions payable | 108,877 | |||
Accrued management fee | 70,000 | |||
Total Liabilities | 793,800 | |||
Net Assets | $ | 149,861,953 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 156,780,182 | ||
Total accumulated earnings (loss) | (6,918,229) | |||
Net Assets | $ | 149,861,953 | ||
Net Asset Value , offering price and redemption price per share ($149,861,953 ÷ 13,374,127 shares) | $ | 11.21 | ||
Statement of Operations | ||||
Year ended August 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 4,516,736 | ||
Expenses | ||||
Management fee | $ | 948,468 | ||
Independent trustees' fees and expenses | 582 | |||
Total expenses before reductions | 949,050 | |||
Expense reductions | (3,250) | |||
Total expenses after reductions | 945,800 | |||
Net Investment income (loss) | 3,570,936 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (199,478) | |||
Total net realized gain (loss) | (199,478) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (19,755,644) | |||
Net gain (loss) | (19,955,122) | |||
Net increase (decrease) in net assets resulting from operations | $ | (16,384,186) |
Statement of Changes in Net Assets | ||||
Year ended August 31, 2022 | Year ended August 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 3,570,936 | $ | 3,813,140 |
Net realized gain (loss) | (199,478) | 603,142 | ||
Change in net unrealized appreciation (depreciation) | (19,755,644) | 1,509,583 | ||
Net increase (decrease) in net assets resulting from operations | (16,384,186) | 5,925,865 | ||
Distributions to shareholders | (4,211,626) | (4,496,086) | ||
Share transactions | ||||
Proceeds from sales of shares | 33,089,748 | 35,061,844 | ||
Reinvestment of distributions | 2,691,125 | 2,813,122 | ||
Cost of shares redeemed | (55,337,086) | (28,166,131) | ||
Net increase (decrease) in net assets resulting from share transactions | (19,556,213) | 9,708,835 | ||
Total increase (decrease) in net assets | (40,152,025) | 11,138,614 | ||
Net Assets | ||||
Beginning of period | 190,013,978 | 178,875,364 | ||
End of period | $ | 149,861,953 | $ | 190,013,978 |
Other Information | ||||
Shares | ||||
Sold | 2,769,731 | 2,787,014 | ||
Issued in reinvestment of distributions | 225,086 | 224,116 | ||
Redeemed | (4,664,588) | (2,239,628) | ||
Net increase (decrease) | (1,669,771) | 771,502 | ||
Fidelity® Arizona Municipal Income Fund |
Years ended August 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 12.63 | $ | 12.53 | $ | 12.52 | $ | 11.82 | $ | 12.21 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .248 | .257 | .277 | .298 | .300 | |||||
Net realized and unrealized gain (loss) | (1.379) | .148 | .009 | .698 | (.309) | |||||
Total from investment operations | (1.131) | .405 | .286 | .996 | (.009) | |||||
Distributions from net investment income | (.247) | (.257) | (.276) | (.296) | (.300) | |||||
Distributions from net realized gain | (.042) | (.048) | - | - | (.081) | |||||
Total distributions | (.289) | (.305) | �� | (.276) | (.296) | (.381) | ||||
Net asset value, end of period | $ | 11.21 | $ | 12.63 | $ | 12.53 | $ | 12.52 | $ | 11.82 |
Total Return C | (9.07)% | 3.27% | 2.33% | 8.56% | (.05)% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .55% | .55% | .55% | .55% | .55% | |||||
Expenses net of fee waivers, if any | .55% | .55% | .55% | .55% | .55% | |||||
Expenses net of all reductions | .55% | .55% | .55% | .55% | .55% | |||||
Net investment income (loss) | 2.07% | 2.04% | 2.23% | 2.49% | 2.52% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 149,862 | $ | 190,014 | $ | 178,875 | $ | 180,860 | $ | 170,557 |
Portfolio turnover rate F | 10% | 8% | 17% | 13% | 12% |
Current 7-Day Yields | ||
Fidelity® Arizona Municipal Money Market Fund | 1.13% | |
Yield refers to the income paid by the Fund over a given period. Yield for money market funds is usually for seven-day periods, as it is here, though it is expressed as an annual percentage rate. Past performance is no guarantee of future results. Yield will vary and it's possible to lose money investing in the Fund. |
Effective Maturity Diversification (% of Fund's Investments) | ||
Days | ||
1 - 7 | 93.2 | |
31 - 60 | 6.5 | |
91 - 180 | 0.3 | |
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940. |
Asset Allocation (% of Fund's net assets) |
![]() |
Variable Rate Demand Note - 40.0% | |||
Principal Amount (a) | Value ($) | ||
Alabama - 0.6% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 1.85% 9/7/22, VRDN (b)(c) | 300,000 | 300,000 | |
West Jefferson Indl. Dev. Series 2008, 1.79% 9/7/22, VRDN (b) | 100,000 | 100,000 | |
TOTAL ALABAMA | 400,000 | ||
Arizona - 37.3% | |||
Arizona Board of Regents Arizona State Univ. Rev.: | |||
Series 2008 A, 1.5% 9/7/22, VRDN (b) | 1,250,000 | 1,250,000 | |
Series 2008 B, 1.47% 9/7/22, VRDN (b) | 1,500,000 | 1,500,000 | |
Arizona Indl. Dev. Auth. Hosp. Rev. Series 2019 B, 0.98% 9/1/22, LOC Bank of America NA, VRDN (b) | 300,000 | 300,000 | |
Maricopa County Indl. Dev. Auth. Rev. (Clayton Homes, Inc. Proj.) Series 1998, 1.71% 9/7/22, LOC U.S. Bank NA, Cincinnati, VRDN (b)(c) | 1,900,000 | 1,900,000 | |
Maricopa County Poll. Cont. Rev. (Arizona Pub. Svc. Co. Palo Verde Proj.) Series 2009 A, 1.77% 9/7/22, VRDN (b) | 1,200,000 | 1,200,000 | |
Tempe Indl. Dev. Auth. Rev. (ASUF Brickyard Proj.) Series 2004 A, 1.68% 9/7/22, LOC Bank of America NA, VRDN (b) | 200,000 | 200,000 | |
FNMA: | |||
Maricopa County Indl. Dev. Auth. Multi-family Hsg. Rev.: | |||
(San Lucas Apts. Proj.) Series 2003, 1.73% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 10,500,000 | 10,500,000 | |
(Village Square Apts. Proj.) Series 2004, 1.73% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 3,400,000 | 3,400,000 | |
Pima County Indl. Dev. Auth. Multi-family Hsg. Rev. Series A, 1.84% 9/7/22, LOC Fannie Mae, VRDN (b)(c) | 2,765,000 | 2,765,000 | |
TOTAL ARIZONA | 23,015,000 | ||
Arkansas - 0.1% | |||
Blytheville Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1998, 1.85% 9/7/22, VRDN (b)(c) | 100,000 | 100,000 | |
Kansas - 0.5% | |||
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.) Series 2007 B, 1.69% 9/7/22, VRDN (b) | 100,000 | 100,000 | |
St. Mary's Kansas Poll. Cont. Rev. (Kansas Gas and Elec. Co. Proj.) Series 1994, 1.65% 9/7/22, VRDN (b) | 200,000 | 200,000 | |
TOTAL KANSAS | 300,000 | ||
Louisiana - 0.2% | |||
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.) Series 2010 B1, 1.95% 9/7/22, VRDN (b) | 100,000 | 100,000 | |
Nebraska - 0.2% | |||
Stanton County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1996, 1.85% 9/7/22, VRDN (b)(c) | 100,000 | 100,000 | |
West Virginia - 1.1% | |||
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev. (Appalachian Pwr. Co.- Mountaineer Proj.) Series 2008 A, 1.75% 9/7/22, VRDN (b)(c) | 700,000 | 700,000 | |
TOTAL VARIABLE RATE DEMAND NOTE (Cost $24,715,000) | 24,715,000 | ||
Tender Option Bond - 40.9% | |||
Principal Amount (a) | Value ($) | ||
Arizona - 39.2% | |||
Arizona Health Facilities Auth. Rev. Participating VRDN Series MIZ 91 01, 1.12% 9/1/22 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(e) | 2,500,000 | 2,500,000 | |
Arizona Indl. Dev. Auth. Hosp. Rev. Participating VRDN: | |||
Series 20 XF 09 90, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 280,000 | 280,000 | |
Series XM 10 13, 1.79% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 700,000 | 700,000 | |
Arizona Tourism & Sports Auth. Tax Rev. Participating VRDN Series Floaters E85, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 2,915,000 | 2,915,000 | |
Maricopa County Indl. Dev. Auth. Participating VRDN Series E 147, 1.7% 9/7/22 (Liquidity Facility Royal Bank of Canada) (b)(d)(e) | 6,500,000 | 6,500,000 | |
Maricopa County Rev. Participating VRDN: | |||
Series XL 01 52, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 705,000 | 705,000 | |
Series ZF 12 05, 1.7% 9/7/22 (Liquidity Facility JPMorgan Chase Bank) (b)(d)(e) | 1,665,000 | 1,665,000 | |
Mesa Util. Sys. Rev. Participating VRDN: | |||
Series Solar 17 0026, 1.72% 9/7/22 (Liquidity Facility U.S. Bank NA, Cincinnati) (b)(d)(e) | 4,400,000 | 4,400,000 | |
Series XM 10 12, 1.72% 9/7/22 (Liquidity Facility Toronto-Dominion Bank) (b)(d)(e) | 1,500,000 | 1,500,000 | |
Phoenix Civic Impt. Board Arpt. Rev. Participating VRDN: | |||
Series Floaters ZF 27 58, 1.77% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(d)(e) | 2,100,000 | 2,100,000 | |
Series YX 11 54, 1.72% 9/7/22 (Liquidity Facility Barclays Bank PLC) (b)(c)(d)(e) | 935,000 | 935,000 | |
TOTAL ARIZONA | 24,200,000 | ||
California - 0.2% | |||
California Health Facilities Fing. Auth. Rev. Participating VRDN Series DBE 80 11, 1.81% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(d)(e) | 155,000 | 155,000 | |
Colorado - 0.5% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN Series 2022 004, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 300,000 | 300,000 | |
Connecticut - 0.2% | |||
Connecticut Gen. Oblig. Participating VRDN Series Floaters 016, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 100,000 | 100,000 | |
Illinois - 0.3% | |||
Illinois Fin. Auth. Rev. Participating VRDN Series Floaters 017, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 190,000 | 190,000 | |
Missouri - 0.2% | |||
Kansas City Indl. Dev. Auth. Participating VRDN Series XG 03 96, 1.89% 9/7/22 (Liquidity Facility Deutsche Bank AG New York Branch) (b)(c)(d)(e) | 100,000 | 100,000 | |
Ohio - 0.3% | |||
Middletown Hosp. Facilities Rev. Participating VRDN Series Floaters 003, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 95,000 | 95,000 | |
Ohio Hosp. Rev. Participating VRDN Series 002, 1.82% 10/12/22 (Liquidity Facility Barclays Bank PLC) (b)(d)(e) | 100,000 | 100,000 | |
TOTAL OHIO | 195,000 | ||
TOTAL TENDER OPTION BOND (Cost $25,240,000) | 25,240,000 | ||
Other Municipal Security - 10.8% | |||
Principal Amount (a) | Value ($) | ||
Arizona - 10.8% | |||
Arizona Ctfs. of Prtn. Bonds: | |||
Series 2015: | |||
5% 9/1/22 | 35,000 | 35,000 | |
5% 9/1/22 (Escrowed to Maturity) | 115,000 | 115,000 | |
Series 2019 A, 5% 10/1/22 (Escrowed to Maturity) | 3,000,000 | 3,009,421 | |
Maricopa County Rev. Bonds Series B, 5%, tender 10/18/22 (b) | 235,000 | 236,404 | |
Salt River Proj. Agricultural Impt. & Pwr. District Elec. Sys. Rev.: | |||
Bonds Series 2021 A, 5% 1/1/23 | 145,000 | 146,616 | |
Series 2022 C, 1.39% 9/7/22, CP | 3,100,000 | 3,100,000 | |
TOTAL OTHER MUNICIPAL SECURITY (Cost $6,642,441) | 6,642,441 | ||
Investment Company - 8.2% | |||
Shares | Value ($) | ||
Fidelity Municipal Cash Central Fund 1.45% (f)(g) (Cost $5,069,007) | 5,068,048 | 5,069,007 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $61,666,448) | 61,666,448 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 35,334 |
NET ASSETS - 100.0% | 61,701,782 |
CP | - | COMMERCIAL PAPER |
VRDN | - | VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(d) | Provides evidence of ownership in one or more underlying municipal bonds. |
(e) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(f) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | %ownership, end of period |
Fidelity Municipal Cash Central Fund 1.45% | 9,008,929 | 19,587,999 | 23,528,000 | 25,563 | 79 | - | 5,069,007 | 0.3% |
Total | 9,008,929 | 19,587,999 | 23,528,000 | 25,563 | 79 | - | 5,069,007 | |
Statement of Assets and Liabilities | ||||
August 31, 2022 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | $56,597,441 | |||
Unaffiliated issuers (cost $56,597,441) | ||||
Fidelity Central Funds (cost $5,069,007) | 5,069,007 | |||
Total Investment in Securities (cost $61,666,448) | $ | 61,666,448 | ||
Receivable for fund shares sold | 5,002 | |||
Interest receivable | 166,300 | |||
Distributions receivable from Fidelity Central Funds | 7,456 | |||
Other receivables | 98 | |||
Total assets | 61,845,304 | |||
Liabilities | ||||
Payable to custodian bank | 67,429 | |||
Payable for fund shares redeemed | 46,127 | |||
Distributions payable | 4,138 | |||
Accrued management fee | 25,828 | |||
Total Liabilities | 143,522 | |||
Net Assets | $ | 61,701,782 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 61,700,506 | ||
Total accumulated earnings (loss) | 1,276 | |||
Net Assets | $ | 61,701,782 | ||
Net Asset Value , offering price and redemption price per share ($61,701,782 ÷ 61,584,872 shares) | $ | 1.00 | ||
Statement of Operations | ||||
Year ended August 31, 2022 | ||||
Investment Income | ||||
Interest | $ | 266,965 | ||
Income from Fidelity Central Funds | 25,436 | |||
Total Income | 292,401 | |||
Expenses | ||||
Management fee | $ | 339,027 | ||
Independent trustees' fees and expenses | 229 | |||
Total expenses before reductions | 339,256 | |||
Expense reductions | (160,832) | |||
Total expenses after reductions | 178,424 | |||
Net Investment income (loss) | 113,977 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,269 | |||
Fidelity Central Funds | 79 | |||
Capital gain distributions from Fidelity Central Funds | 127 | |||
Total net realized gain (loss) | 2,475 | |||
Net increase in net assets resulting from operations | $ | 116,452 |
Statement of Changes in Net Assets | ||||
Year ended August 31, 2022 | Year ended August 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 113,977 | $ | 7,857 |
Net realized gain (loss) | 2,475 | 16,477 | ||
Net increase in net assets resulting from operations | 116,452 | 24,334 | ||
Distributions to shareholders | (113,975) | (61,874) | ||
Share transactions | ||||
Proceeds from sales of shares | 6,507,621 | 8,024,955 | ||
Reinvestment of distributions | 105,436 | 52,025 | ||
Cost of shares redeemed | (18,145,911) | (20,629,280) | ||
Net increase (decrease) in net assets and shares resulting from share transactions | (11,532,854) | (12,552,300) | ||
Total increase (decrease) in net assets | (11,530,377) | (12,589,840) | ||
Net Assets | ||||
Beginning of period | 73,232,159 | 85,821,999 | ||
End of period | $ | 61,701,782 | $ | 73,232,159 |
Other Information | ||||
Shares | ||||
Sold | 6,507,621 | 8,024,955 | ||
Issued in reinvestment of distributions | 105,436 | 52,025 | ||
Redeemed | (18,145,911) | (20,629,280) | ||
Net increase (decrease) | (11,532,854) | (12,552,300) | ||
Fidelity® Arizona Municipal Money Market Fund |
Years ended August 31, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A | .002 | - B | .006 | .012 | .008 | |||||
Net realized and unrealized gain (loss) | - B | .001 | - B | - B | - B | |||||
Total from investment operations | .002 | .001 | .006 | .012 | .008 | |||||
Distributions from net investment income | (.002) | - B | (.006) | (.012) | (.008) | |||||
Distributions from net realized gain | - | (.001) | - B | - B | - | |||||
Total distributions | (.002) | (.001) | (.006) | (.012) | (.008) | |||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Total Return C | .18% | .08% | .61% | 1.16% | .78% | |||||
Ratios to Average Net Assets A,D,E | ||||||||||
Expenses before reductions | .50% | .50% | .50% | .50% | .50% | |||||
Expenses net of fee waivers, if any | .26% | .10% | .39% | .50% | .50% | |||||
Expenses net of all reductions | .26% | .10% | .39% | .50% | .50% | |||||
Net investment income (loss) | .17% | .01% | .61% | 1.16% | .76% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 61,702 | $ | 73,232 | $ | 85,822 | $ | 92,735 | $ | 107,238 |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Arizona Municipal Income Fund. | $ 155,476,905 | $ 1,150,371 | $ (7,833,915) | $ (6,683,544) |
Fidelity Arizona Municipal Money Market Fund | 61,666,448 | - | - | - |
Undistributed tax-exempt income | Undistributed ordinary income | Undistributed long-term capital gain | Capital loss carryforward | Net unrealized appreciation (depreciation) on securities and other investments | |
Fidelity Arizona Municipal Income Fund. | $ 9,200 | $- | $ - | $ - | $ (6,683,544) |
Fidelity Arizona Municipal Money Market Fund | 2 | - | 1,273 | - | - |
Capital losses | |
Fidelity Arizona Municipal Income Fund. | $ (243,885) |
August 31, 2022 | |||||
Tax-Exempt Income | Ordinary Income | Long-term Capital Gains | Tax Return of Capital | Total | |
Fidelity Arizona Municipal Income Fund. | $ 3,564,168 | $ - | $ 647,458 | $ - | $ 4,211,626 |
Fidelity Arizona Municipal Money Market Fund | 113,975 | - | - | - | 113,975 |
August 31, 2021 | |||||
Tax-Exempt Income | Ordinary Income | Long-term Capital Gains | Tax Return of Capital | Total | |
Fidelity Arizona Municipal Income Fund. | $ 3,807,123 | $ - | $ 688,963 | $ - | $ 4,496,086 |
Fidelity Arizona Municipal Money Market Fund | 7,840 | 11,462 | 42,572 | - | 61,874 |
Purchases ($) | Sales ($) | |
Fidelity Arizona Municipal Income Fund | 16,665,835 | 31,772,680 |
Fidelity Arizona Municipal Income Fund | .55% |
Fidelity Arizona Municipal Money Market Fund | .50% |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Arizona Municipal Income Fund | - | 1,692,528 | 30,751 |
Fidelity Arizona Municipal Money Market Fund | 6,692,528 | 7,100,000 | - |
Custodian credits | |
Fidelity Arizona Municipal Income Fund | $ 3,250 |
Fidelity Arizona Municipal Money Market Fund | 473 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (March 1, 2022 to August 31, 2022). |
Annualized Expense Ratio- A | Beginning Account Value March 1, 2022 | Ending Account Value August 31, 2022 | Expenses Paid During Period- C March 1, 2022 to August 31, 2022 | |||||||
Fidelity® Arizona Municipal Income Fund | .55% | |||||||||
Actual | $ 1,000 | $ 940.00 | $ 2.69 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.43 | $ 2.80 | |||||||
Fidelity® Arizona Municipal Money Market Fund ** | .45% | |||||||||
Actual | $ 1,000 | $ 1,001.80 | $ 2.27 ** | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.94 | $ 2.29 ** | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Arizona Municipal Money Market Fund | .50% | |||||
Actual | $ 2.52 | |||||
Hypothetical - B | $ 2.55 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
Fidelity Arizona Municipal Income Fund | $44,406 |
Fidelity Arizona Municipal Money Market Fund | $1,863 |
![]() |
Item 2.
Code of Ethics
As of the end of the period, August 31, 2022, Fidelity Union Street Trust II (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Elizabeth S. Acton is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Acton is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Arizona Municipal Money Market Fund and Fidelity Municipal Money Market Fund (the “Funds”):
Services Billed by PwC
August 31, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Arizona Municipal Money Market Fund | $30,500 | $2,400 | $2,000 | $1,000 |
Fidelity Municipal Money Market Fund | $36,700 | $2,800 | $2,000 | $1,300 |
August 31, 2021 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Arizona Municipal Money Market Fund | $29,600 | $2,500 | $1,900 | $1,200 |
Fidelity Municipal Money Market Fund | $35,800 | $3,000 | $1,900 | $1,400 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by PwC
August 31, 2022A | August 31, 2021A | |
Audit-Related Fees | $7,914,600 | $8,959,700 |
Tax Fees | $353,200 | $11,200 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | August 31, 2022A | August 31, 2021A |
PwC | $13,246,700 | $14,285,500 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its(their) audit of the Fund(s), taking into account representations from PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Union Street Trust II
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | October 20, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | October 20, 2022 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | October 20, 2022 |