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)
Margaret Carey, 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, 2023 |
Item 1.
Reports to Stockholders
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Contents
Current 7-Day Yields | ||
Fidelity® Municipal Money Market Fund | 3.92% | |
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 | 78.0 | |
8 - 30 | 3.4 | |
31 - 60 | 6.5 | |
61 - 90 | 1.3 | |
91 - 180 | 2.0 | |
> 180 | 8.8 | |
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) |
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Variable Rate Demand Note - 43.2% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 4.9% | |||
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 4.77% 9/7/23, VRDN (b)(c) | 31,715 | 31,715 | |
Mobile Indl. Dev. Board Rev.: | |||
(Alabama Pwr. Co. Proj.) Series 2001 B, 4.55% 9/1/23, VRDN (b)(c) | 10,000 | 10,000 | |
(Alabama Pwr. Theodore Plant Proj.) Series A, 4.55% 9/1/23, VRDN (b)(c) | 8,450 | 8,450 | |
Walker County Econ. & Indl. Dev. Auth. Solid Waste Disp. Rev. (Alabama Pwr. Co. Plant Gorgas Proj.): | |||
Series 2007, 4.55% 9/1/23, VRDN (b)(c) | 11,100 | 11,100 | |
Series 2023: | |||
4.5% 9/1/23, VRDN (b)(c) | 13,000 | 13,000 | |
4.5% 9/1/23, VRDN (b)(c) | 24,300 | 24,300 | |
West Jefferson Indl. Dev. Board Solid Waste Disp. Rev.: | |||
(Alabama Pwr. Co. Miller Plant Proj.) Series 2008, 4.55% 9/1/23, VRDN (b)(c) | 67,850 | 67,850 | |
(Alabama Pwr. Co. Plant Miller Proj.) Series 2023, 5.15% 9/7/23, VRDN (b)(c) | 12,900 | 12,900 | |
Wilsonville Indl. Dev. Board Poll. Cont. Rev. (Alabama Pwr. Co. Gaston Plant Proj.) Series 2008, 4.55% 9/1/23, VRDN (b)(c) | 7,650 | 7,650 | |
TOTAL ALABAMA | 186,965 | ||
Alaska - 1.6% | |||
Valdez Marine Term. Rev.: | |||
(ConocoPhillips Proj.) Series 1994 A, 4.05% 9/7/23 (ConocoPhillips Co. Guaranteed), VRDN (b) | 23,800 | 23,800 | |
(Phillips Trans. Alaska, Inc. Proj.): | |||
Series 1994 B, 4.22% 9/7/23 (ConocoPhillips Co. Guaranteed), VRDN (b) | 13,350 | 13,350 | |
Series 1994 C, 3.95% 9/7/23 (ConocoPhillips Co. Guaranteed), VRDN (b) | 25,600 | 25,600 | |
TOTAL ALASKA | 62,750 | ||
Arizona - 0.9% | |||
Maricopa County Poll. Cont. Rev.: | |||
(Arizona Pub. Svc. Co. Palo Verde Proj.) Series 2009 A, 4.7% 9/7/23, VRDN (b) | 2,400 | 2,400 | |
Series 2009 B, 4.7% 9/7/23, VRDN (b) | 9,900 | 9,900 | |
Maricopa County Rev. Series 2023 B, 4.52% 9/7/23, VRDN (b) | 12,900 | 12,900 | |
FNMA: | |||
Maricopa County Indl. Dev. Auth. Multi-family Hsg. Rev. (Village Square Apts. Proj.) Series 2004, 4.57% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 3,300 | 3,300 | |
Pima County Indl. Dev. Auth. Multi-family Hsg. Rev. Series A, 4.62% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 4,725 | 4,725 | |
TOTAL ARIZONA | 33,225 | ||
Arkansas - 0.9% | |||
Blytheville Indl. Dev. Rev. (Nucor Corp. Proj.): | |||
Series 1998, 4.77% 9/7/23, VRDN (b)(c) | 10,300 | 10,300 | |
Series 2002, 4.85% 9/7/23, VRDN (b)(c) | 23,100 | 23,100 | |
TOTAL ARKANSAS | 33,400 | ||
Colorado - 0.0% | |||
Colorado Edl. & Cultural Facilities Auth. Rev. (Clyfford Still Museum Proj.) Series 2008, 4.55% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b) | 100 | 100 | |
Delaware - 0.2% | |||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1999 B, 4.35% 9/7/23, 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, 4.58% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b)(c) | 2,475 | 2,475 | |
Florida - 2.6% | |||
Bay County Indl. Rev. Dev. (Gulf Pwr. Co. Proj.) Series 2020, 4.1% 9/7/23, VRDN (b)(c) | 26,800 | 26,800 | |
Broward County Indl. Dev. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2018 B, 4.3% 9/7/23, VRDN (b)(c) | 4,900 | 4,900 | |
Escambia County Solid Waste Disp. Rev. (Gulf Pwr. Co. Proj.) Series 2009, 3.95% 9/7/23, VRDN (b) | 4,000 | 4,000 | |
Florida Hsg. Fin. Corp. Multi-family Mtg. Rev. (Savannah Springs Apts. Proj.) Series G, 4.49% 9/7/23, LOC Citibank NA, VRDN (b)(c) | 11,475 | 11,475 | |
Jacksonville Poll. Cont. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 1995, 4.5% 9/7/23, VRDN (b) | 10,140 | 10,140 | |
Lee County Indl. Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2016 A, 4.6% 9/7/23, VRDN (b)(c) | 6,300 | 6,300 | |
Miami-Dade County Indl. Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2021, 4.2% 9/7/23, VRDN (b)(c) | 5,800 | 5,800 | |
Mississippi Bus. Fin. Corp. Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2014, 4.5% 9/7/23, VRDN (b) | 3,775 | 3,775 | |
FNMA: | |||
Collier County Hsg. Fin. Auth. Multi-family Rev. (Sawgrass Pines Apts. Proj.) Series 2003, 4.5% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 5,100 | 5,100 | |
Florida Hsg. Fin. Corp. Multi-family Mtg. Rev. Series 2006 H, 4.58% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 5,495 | 5,495 | |
Hillsborough County Hsg. Fin. Auth. Multi-family Rev.: | |||
(Morgan Creek Apts. Proj.) Series 2003, 4.5% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 9,300 | 9,300 | |
(Royal Palm Key Apts. Proj.) Series 2002, 4.1% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 6,610 | 6,610 | |
TOTAL FLORIDA | 99,695 | ||
Georgia - 1.8% | |||
Bartow County Dev. Auth. (Georgia Pwr. Co. Plant Bowen Proj.) Series 2022, 4.5% 9/1/23, VRDN (b)(c) | 3,595 | 3,595 | |
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2012, 4.5% 9/1/23, VRDN (b)(c) | 18,755 | 18,755 | |
Gwinnett County Dev. Auth. Indl. Dev. Rev. (Curtis 1000, Inc. Proj.) Series 1996, 4.21% 9/7/23, 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, 4.45% 9/1/23, VRDN (b) | 9,200 | 9,200 | |
(Gulf Pwr. Co. Plant Scherer Proj.) Series 2010, 4.55% 9/7/23, VRDN (b) | 2,100 | 2,100 | |
Monroe County Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2019, 4.75% 9/7/23, VRDN (b)(c) | 20,000 | 20,000 | |
FNMA Atlanta Urban Residential Fin. Auth. Multi-family Hsg. Rev. (Collegetown at Harris Homes Phase I Proj.) Series 2003, 4.58% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 7,230 | 7,230 | |
TOTAL GEORGIA | 67,340 | ||
Illinois - 3.6% | |||
Chicago Midway Arpt. Rev. Series 2014 C, 4.55% 9/7/23, 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, 4.22% 9/7/23, LOC Bayerische Landesbank, VRDN (b)(c) | 37,770 | 37,770 | |
Illinois Dev. Fin. Auth. Rev. (Glenwood School for Boys Proj.) Series 1998, 4.62% 9/7/23, LOC Northern Trust Co., VRDN (b) | 2,700 | 2,700 | |
FHLMC: | |||
Illinois Fin. Auth. Multi-family Rev. (Villagebrook Apts. Proj.) Series 2005, 4.58% 9/7/23, LOC Freddie Mac, VRDN (b)(c) | 6,930 | 6,930 | |
Lisle Village Multi-family Hsg. Rev. (Devonshire of Lisle Proj.) Series 1991, 4.2% 9/7/23, LOC Freddie Mac, VRDN (b)(c) | 6,000 | 6,000 | |
TOTAL ILLINOIS | 137,610 | ||
Indiana - 1.6% | |||
Indiana Dev. Fin. Auth. Envir. Rev.: | |||
(PSI Energy Proj.): | |||
Series 2003 A, 4.3% 9/7/23, VRDN (b)(c) | 36,250 | 36,250 | |
Series 2003 B, 4.35% 9/7/23, VRDN (b)(c) | 23,300 | 23,294 | |
Series 2005, 4.25% 9/7/23, LOC Rabobank Nederland New York Branch, VRDN (b) | 1,500 | 1,500 | |
TOTAL INDIANA | 61,044 | ||
Iowa - 3.8% | |||
Council Bluffs Poll. Cont. Series 1995, 4.25% 9/7/23, VRDN (b) | 1,000 | 1,000 | |
Iowa Fin. Auth. Solid Disp. Waste Rev. (MidAmerican Energy Co. Proj.): | |||
Series 2008 A, 4.34% 9/7/23, VRDN (b)(c) | 45,100 | 45,100 | |
Series 2016 B, 4.34% 9/7/23, VRDN (b)(c) | 17,600 | 17,600 | |
Iowa Fin. Auth. Solid Waste Facilities (MidAmerican Energy Co. Proj.) Series 2017, 4.3% 9/7/23, VRDN (b)(c) | 82,205 | 82,205 | |
TOTAL IOWA | 145,905 | ||
Kansas - 2.0% | |||
Cygne Poll. Cont. Rev. (Kansas Gas and Elec. Co. Proj.) Series 1994 B, 3.95% 9/7/23, VRDN (b) | 17,200 | 17,200 | |
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.): | |||
Series 2007 A, 4.05% 9/7/23, VRDN (b) | 3,200 | 3,200 | |
Series 2007 B, 4.05% 9/7/23, VRDN (b) | 14,000 | 14,000 | |
Chanute Indl. Dev. Rev. (Ash Grove Cement Co. Proj.): | |||
Series 2000, 4.68% 9/7/23, LOC Bank of America NA, VRDN (b)(c) | 25,100 | 25,100 | |
Series 2002, 4.68% 9/7/23, 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, 3.95% 9/7/23, VRDN (b) | 4,100 | 4,100 | |
(Western Resources, Inc. Proj.) Series 1994, 3.95% 9/7/23, VRDN (b) | 5,200 | 5,200 | |
TOTAL KANSAS | 75,800 | ||
Kentucky - 2.2% | |||
Daviess County Exempt Facilities Rev. (Kimberly-Clark Tissue Co. Proj.) Series 1999, 4.1% 9/7/23 (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, 4.1% 9/7/23 (Kimberly-Clark Corp. Guaranteed), VRDN (b)(c) | 36,900 | 36,900 | |
Series 1993 B, 4.1% 9/7/23 (Kimberly-Clark Corp. Guaranteed), VRDN (b)(c) | 40,000 | 40,000 | |
TOTAL KENTUCKY | 82,970 | ||
Maryland - 0.3% | |||
Maryland Trans. Auth. Passenger Facility Charge Rev. Series 2012 C, 4.6% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b)(c) | 9,700 | 9,700 | |
Michigan - 0.2% | |||
Michigan Strategic Fund Ltd. Oblig. Rev. (The Kroger Co. Recovery Zone Facilities Bond Proj.) Series 2010, 4.51% 9/7/23, LOC Bank of Nova Scotia, VRDN (b) | 2,400 | 2,400 | |
FHLMC Livonia Econ. Dev. Corp. (Madonna Univ. Proj.) Series 2009, 4.52% 9/7/23, LOC Fed. Home Ln. Bank Chicago, VRDN (b) | 3,815 | 3,815 | |
TOTAL MICHIGAN | 6,215 | ||
Mississippi - 0.5% | |||
Mississippi Bus. Fin. Corp. Rev. (Gulf Pwr. Co. Proj.) Series 2019, 4.6% 9/7/23, VRDN (b)(c) | 17,700 | 17,700 | |
Mississippi Bus. Fin. Corp. Solid Waste Disp. Rev. (Mississippi Pwr. Co. Proj.) Series 1998, 4.6% 9/1/23, VRDN (b)(c) | 2,000 | 2,000 | |
TOTAL MISSISSIPPI | 19,700 | ||
Nebraska - 1.0% | |||
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.: | |||
Series 2014 B, 3.95% 9/7/23 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 9,480 | 9,480 | |
Series 2015 B, 3.95% 9/7/23 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 15,765 | 15,765 | |
Series 2015 D, 3.95% 9/7/23 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 425 | 425 | |
Series 2016 D, 3.95% 9/7/23 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (b)(c) | 8,320 | 8,320 | |
Stanton County Indl. Dev. Rev.: | |||
(Nucor Corp. Proj.) Series 1996, 4.77% 9/7/23, VRDN (b)(c) | 1,600 | 1,600 | |
Series 1998, 4.77% 9/7/23, VRDN (b)(c) | 2,200 | 2,200 | |
TOTAL NEBRASKA | 37,790 | ||
Nevada - 0.8% | |||
Clark County Indl. Dev. Rev.: | |||
(Southwest Gas Corp. Proj.) Series 2003 A, 4.35% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b)(c) | 21,600 | 21,600 | |
Series 2008 A, 4.03% 9/7/23, LOC MUFG Bank Ltd., VRDN (b)(c) | 9,100 | 9,100 | |
TOTAL NEVADA | 30,700 | ||
New York And New Jersey - 0.1% | |||
Port Auth. of New York & New Jersey: | |||
Series 1992 2, 4.11% 10/2/23, VRDN (b)(d) | 500 | 500 | |
Series 1995 4, 4.14% 10/2/23, VRDN (b)(c)(d) | 3,900 | 3,900 | |
TOTAL NEW YORK AND NEW JERSEY | 4,400 | ||
North Carolina - 0.2% | |||
Cumberland County Indl. Facilities & Poll. Cont. Fing. Auth. (Cargill, Inc. Proj.) Series 2022, 4.52% 9/7/23, VRDN (b)(c) | 7,500 | 7,500 | |
Ohio - 0.6% | |||
Cuyahoga County Health Care Facilities Rev. (The A.M. McGregor Home Proj.) Series 2014, 4.54% 9/7/23, LOC Northern Trust Co., VRDN (b) | 2,535 | 2,535 | |
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev.: | |||
Series 2016 G, 4.03% 9/7/23 (Liquidity Facility TD Banknorth, NA), VRDN (b)(c) | 11,580 | 11,580 | |
Series 2016 H, 4.14% 9/7/23 (Liquidity Facility Ohio Gen. Oblig.), VRDN (b)(c) | 10,700 | 10,700 | |
TOTAL OHIO | 24,815 | ||
Oregon - 0.2% | |||
Portland Hsg. Auth. Rev.: | |||
(New Columbia - Cecelia Proj.) Series 2004, 4.68% 9/7/23, LOC Bank of America NA, VRDN (b)(c) | 2,770 | 2,770 | |
(New Columbia - Trouton Proj.) Series 2005, 4.68% 9/7/23, LOC Bank of America NA, VRDN (b)(c) | 4,210 | 4,210 | |
TOTAL OREGON | 6,980 | ||
Pennsylvania - 0.1% | |||
FNMA Montgomery County Redev. Auth. Multi-family Hsg. Rev. (Kingswood Apts. Proj.) Series 2001 A, 4.56% 9/7/23, LOC Fannie Mae, VRDN (b) | 2,575 | 2,575 | |
South Carolina - 0.4% | |||
South Carolina Jobs-Econ. Dev. Auth. Econ. Dev. Rev. (Waste Mgmt. of South Carolina, Inc. Proj.) Series 2003 A, 4.5% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b)(c) | 15,000 | 15,000 | |
Tennessee - 0.3% | |||
Henderson TN IDB Rev. (Arvin Sango, Inc. Proj.) Series 2012, 4.55% 9/7/23, LOC Bank of Tokyo-Mitsubishi UFJ Ltd., VRDN (b)(c) | 6,900 | 6,900 | |
Loudon County Indl. Dev. Board Exempt Facilities Rev. (Kimberly-Clark Corp. Proj.) Series 1999, 4.1% 9/7/23, VRDN (b)(c) | 5,200 | 5,200 | |
TOTAL TENNESSEE | 12,100 | ||
Texas - 4.0% | |||
Calhoun County Navigation District Envir. Facilities Rev. (Formosa Plastics Corp. Proj.) Series 2004, 4.54% 9/7/23, LOC Citibank NA, VRDN (b)(c) | 8,600 | 8,600 | |
Calhoun County Navigation District Poll. Cont. Rev. (Formosa Plastics Corp., Texas Proj.) Series 2002, 4.54% 9/7/23, LOC Citibank NA, VRDN (b)(c) | 1,700 | 1,700 | |
Calhoun Port Auth. Envir. Facilities Rev. Series 2007 A, 4.65% 9/7/23, LOC PNC Bank NA, VRDN (b)(c) | 6,665 | 6,665 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Series 2016 D, 4.11% 9/7/23, VRDN (b) | 2,000 | 2,000 | |
Jewett Econ. Dev. Corp. Indl. Dev. Rev. (Nucor Corp. Proj.) Series 2003, 4.77% 9/7/23, VRDN (b)(c) | 12,600 | 12,600 | |
Lower Neches Valley Auth. Indl. Dev. Corp. Exempt Facilities Rev. (Onyx Envir. Svcs. Proj.) Series 2003, 4.67% 9/7/23, 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, 4.02% 9/7/23, VRDN (b)(c) | 25,000 | 25,000 | |
Series 2002, 4.02% 9/7/23, VRDN (b)(c) | 22,500 | 22,500 | |
Texas Gen. Oblig.: | |||
Series 2003 A, 4.2% 9/7/23 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (b)(c) | 12,980 | 12,980 | |
Series 2015 A, 4.15% 9/7/23 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (b) | 4,400 | 4,400 | |
FNMA: | |||
Harris County Hsg. Fin. Corp. Multi-family Hsg. Rev.: | |||
(Louetta Village Apts. Proj.) Series 2005, 4.54% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 4,880 | 4,880 | |
(Primrose at Bammel Apts. Proj.) Series 2005, 4.58% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 6,480 | 6,480 | |
Houston Hsg. Fin. Corp. Multi-family Hsg. Rev. (Little Nell Apts. Proj.) Series 2003, 4.54% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 9,000 | 9,000 | |
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev.: | |||
(Residences at Sunset Pointe Proj.) Series 2006, 4.61% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 14,090 | 14,090 | |
(Windshire Apts. Proj.) Series 2007, 4.54% 9/7/23, LOC Fannie Mae, VRDN (b)(c) | 11,800 | 11,800 | |
TOTAL TEXAS | 153,005 | ||
Washington - 4.0% | |||
King County Hsg. Auth. Rev. (Overlake TOD Hsg. Proj.) Series 2000, 4.68% 9/7/23, LOC Bank of America NA, VRDN (b)(c) | 15,405 | 15,405 | |
Port of Seattle Rev. Series 2008, 4.15% 9/7/23, LOC Bank of America NA, VRDN (b)(c) | 97,175 | 97,176 | |
FHLMC Washington Hsg. Fin. Commission Multi-family Hsg. Rev.: | |||
(Ballard Landmark Inn Proj.) Series 2015 A, 4.16% 9/7/23, LOC Fed. Home Ln. Bank, San Francisco, VRDN (b)(c) | 31,590 | 31,590 | |
(The Lodge at Eagle Ridge Proj.) Series A, 4.54% 9/7/23, LOC Fed. Home Ln. Bank, San Francisco, VRDN (b)(c) | 8,885 | 8,885 | |
TOTAL WASHINGTON | 153,056 | ||
West Virginia - 2.1% | |||
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev.: | |||
(Appalachian Pwr. Co. Amos Proj.) Series 2008 B, 4.54% 9/7/23, VRDN (b)(c) | 37,475 | 37,475 | |
(Appalachian Pwr. Co.- Mountaineer Proj.) Series 2008 A, 4.65% 9/7/23, VRDN (b)(c) | 42,400 | 42,400 | |
TOTAL WEST VIRGINIA | 79,875 | ||
Wisconsin - 1.4% | |||
Green Bay Redev. Auth. (Green Bay Packaging, Inc. Proj.) Series 2019, 4.5% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b)(c)(e) | 53,200 | 53,200 | |
Wyoming - 0.8% | |||
Converse County Envir. Impt. Rev. Series 1995, 4.2% 9/7/23, VRDN (b)(c) | 3,600 | 3,600 | |
Laramie County Indl. Dev. Rev. (Cheyenne Lt., Fuel & Pwr. Co. Proj.) Series 2009 A, 4.48% 9/7/23, LOC Wells Fargo Bank NA, VRDN (b)(c) | 10,000 | 10,000 | |
Lincoln County Envir. (PacifiCorp Proj.) Series 1995, 4.28% 9/7/23, VRDN (b)(c) | 16,800 | 16,800 | |
Lincoln County Poll. Cont. Rev. (PacifiCorp Proj.) Series 1994, 4.25% 9/7/23, VRDN (b) | 2,000 | 2,000 | |
TOTAL WYOMING | 32,400 | ||
TOTAL VARIABLE RATE DEMAND NOTE (Cost $1,646,490) | 1,646,490 | ||
Tender Option Bond - 33.0% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 0.0% | |||
Huntsville Hosp. Participating VRDN Series XG 03 84, 4.51% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,910 | 1,910 | |
Arizona - 0.4% | |||
Arizona Indl. Dev. Auth. Hosp. Rev. Participating VRDN Series XM 10 13, 4.59% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 675 | 675 | |
Arizona Tourism & Sports Auth. Tax Rev. Participating VRDN Series Floaters E85, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 3,600 | 3,600 | |
Maricopa County Indl. Dev. Auth. Participating VRDN Series E 147, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 6,500 | 6,500 | |
Mesa Util. Sys. Rev. Participating VRDN Series XM 10 12, 4.52% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 2,400 | 2,400 | |
Phoenix Civic Impt. Board Arpt. Rev. Participating VRDN Series YX 12 72, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 2,755 | 2,755 | |
TOTAL ARIZONA | 15,930 | ||
California - 0.5% | |||
California Health Facilities Fing. Auth. Rev. Participating VRDN Series Floaters XF 24 67, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 1,200 | 1,200 | |
Los Angeles Dept. Arpt. Rev. Participating VRDN: | |||
Series Floaters XX 10 28, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 2,900 | 2,900 | |
Series XM 08 69, 4.52% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 5,780 | 5,780 | |
Series YX 12 29, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 4,980 | 4,980 | |
Series ZL 02 47, 4.52% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 1,940 | 1,940 | |
San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Participating VRDN Series XX 12 15, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 2,000 | 2,000 | |
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN Series Floaters XL 01 01, 4.52% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 365 | 365 | |
TOTAL CALIFORNIA | 19,165 | ||
Colorado - 2.2% | |||
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN: | |||
Series XF 30 40, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,100 | 3,100 | |
Series XG 02 51, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 390 | 390 | |
Series XM 08 29, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,900 | 3,900 | |
Colorado State Univ. Board of Governors Enterprise Sys. Rev. Participating VRDN Series E 143, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 6,900 | 6,900 | |
Denver City & County Arpt. Rev. Participating VRDN: | |||
Series 2022 XX 12 60, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 7,050 | 7,050 | |
Series 2022 XX 12 61, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 3,750 | 3,750 | |
Series Floaters XG 01 96, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 16,200 | 16,200 | |
Series Floaters XL 00 83, 4.55% 9/7/23 (Liquidity Facility Bank of America NA) (b)(c)(f)(g) | 23,665 | 23,665 | |
Series Floaters XL 00 84, 4.55% 9/7/23 (Liquidity Facility Bank of America NA) (b)(c)(f)(g) | 13,665 | 13,665 | |
Series XF 15 13, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 4,620 | 4,620 | |
TOTAL COLORADO | 83,240 | ||
Connecticut - 2.7% | |||
Connecticut Gen. Oblig. Participating VRDN: | |||
Series Floaters 014, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 15,800 | 15,800 | |
Series Floaters 016, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 83,940 | 83,940 | |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev. Bonds Series Floaters G 110, 4.65%, tender 10/2/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(f)(g) | 3,300 | 3,300 | |
TOTAL CONNECTICUT | 103,040 | ||
District Of Columbia - 0.5% | |||
District of Columbia Gen. Oblig. Participating VRDN Series MS 4301, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 2,600 | 2,600 | |
District of Columbia Income Tax Rev. Participating VRDN Series XM 10 77, 4.5% 9/7/23 (Liquidity Facility UBS AG) (b)(f)(g) | 3,750 | 3,750 | |
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev. Participating VRDN: | |||
Series XF 08 52, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,355 | 1,355 | |
Series XF 09 20, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 2,145 | 2,145 | |
Series XG 02 67, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 6,020 | 6,020 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev. Participating VRDN Series Floaters XF 27 94, 4.55% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 1,545 | 1,545 | |
TOTAL DISTRICT OF COLUMBIA | 17,415 | ||
Florida - 2.9% | |||
Broward County Arpt. Sys. Rev. Participating VRDN: | |||
Series Floaters XL 00 88, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 18,880 | 18,880 | |
Series XG 04 43, 4.54% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 3,445 | 3,445 | |
Broward County Convention Ctr. Bonds Series MS 00 11, 4.59%, tender 11/2/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(d)(f)(g) | 9,200 | 9,200 | |
Broward County Port Facilities Rev. Participating VRDN Series XF 09 52, 4.53% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 3,395 | 3,395 | |
County of Broward Tourist Dev. Tax Rev. Participating VRDN Series XL 04 29, 4.58% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 900 | 900 | |
Escambia County Health Facilities Auth. Health Facilities Rev. Participating VRDN Series ZF 09 31, 4.51% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,605 | 1,605 | |
Florida Dept. of Trans. Tpk. Rev. Participating VRDN Series XM 10 72, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 3,750 | 3,750 | |
Fort Myers Util. Sys. Rev. Participating VRDN Series 2022 XF 13 85, 4.57% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 3,200 | 3,200 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | |||
Bonds Series Floaters G 25, 4.72%, tender 10/2/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(d)(f)(g) | 1,400 | 1,400 | |
Participating VRDN: | |||
Series XF 14 63, 4.57% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 2,770 | 2,770 | |
Series XF 28 77, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 9,100 | 9,100 | |
Series XL 04 30, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 3,750 | 3,750 | |
Series XM 08 96, 4.52% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 6,375 | 6,375 | |
Hillsborough County Indl. Dev. Participating VRDN Series XG 04 67, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,055 | 3,055 | |
Lee County Arpt. Rev. Participating VRDN: | |||
Series XF 11 26, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 3,195 | 3,195 | |
Series XF 15 23, 4.53% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 2,430 | 2,430 | |
Miami-Dade County Participating VRDN Series XF 11 59, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 6,310 | 6,310 | |
Miami-Dade County Edl. Facilities Rev. Participating VRDN Series Floaters XG 01 92, 4.51% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 7,840 | 7,840 | |
Miami-Dade County Expressway Auth. Participating VRDN Series Floaters XG 02 52, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 6,100 | 6,100 | |
Miami-Dade County Wtr. & Swr. Rev. Participating VRDN Series XF 31 22, 4.5% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 4,280 | 4,280 | |
Palm Beach County Health Facilities Auth. Hosp. Rev. Participating VRDN Series XG 03 70, 4.57% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 2,380 | 2,380 | |
South Broward Hosp. District Rev. Participating VRDN Series XG 03 45, 4.5% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 5,000 | 5,000 | |
South Miami Health Facilities Auth. Hosp. Rev. Participating VRDN Series XM 08 68, 4.67% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 700 | 700 | |
Tallahassee Health Facilities Rev. Participating VRDN Series XG 04 85, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,595 | 2,595 | |
TOTAL FLORIDA | 111,655 | ||
Georgia - 1.4% | |||
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Participating VRDN: | |||
Series E 155, 4.51% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 19,400 | 19,400 | |
Series Floaters E 107, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 14,800 | 14,800 | |
Fulton County Dev. Auth. Rev. Participating VRDN Series XL 02 68, 4.57% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 990 | 990 | |
Georgia Muni. Elec. Auth. Pwr. Rev. Participating VRDN: | |||
Series XF 31 06, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 8,070 | 8,070 | |
Series XG 04 70, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 2,590 | 2,590 | |
Main Street Natural Gas, Inc. Participating VRDN: | |||
Series 2022 ZL 03 05, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 605 | 605 | |
Series ZL 03 06, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,025 | 2,025 | |
Series ZL 03 09, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,370 | 2,370 | |
Muni. Elec. Auth. of Georgia Participating VRDN Series XG 02 54, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 3,880 | 3,880 | |
TOTAL GEORGIA | 54,730 | ||
Hawaii - 0.6% | |||
Hawaii Arpts. Sys. Rev. Participating VRDN: | |||
Series XX 12 17, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 16,635 | 16,635 | |
Series YX 12 52, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 5,895 | 5,895 | |
TOTAL HAWAII | 22,530 | ||
Illinois - 4.4% | |||
Chicago Gen. Oblig. Participating VRDN: | |||
Series 2022 XF 30 42, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 19,900 | 19,900 | |
Series 2022 XF 30 45, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 7,750 | 7,750 | |
Series Floaters XL 01 05, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,400 | 2,400 | |
Series XG 04 34, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,750 | 2,750 | |
Series XX 12 64, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,955 | 2,955 | |
Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN: | |||
Series Floaters XF 07 23, 4.51% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 10,895 | 10,895 | |
Series Floaters XG 02 19, 4.51% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 6,475 | 6,475 | |
Series XF 14 30, 4.54% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 2,810 | 2,810 | |
Series XX 12 45, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 10,500 | 10,500 | |
Chicago Transit Auth. Participating VRDN Series XL 01 45, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,580 | 1,580 | |
Illinois Fin. Auth. Participating VRDN Series XF 30 36, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 4,000 | 4,000 | |
Illinois Fin. Auth. Rev. Participating VRDN: | |||
Series 2022 ZL 03 54, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 2,500 | 2,500 | |
Series Floaters 017, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 11,300 | 11,300 | |
Series XF 07 11, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 11,050 | 11,050 | |
Series XG 04 50, 4.5% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 3,465 | 3,465 | |
Series YX 12 26, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 9,150 | 9,150 | |
Illinois Gen. Oblig. Participating VRDN: | |||
Series 15 XF 1006, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 7,000 | 7,000 | |
Series XF 10 10, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 5,800 | 5,800 | |
Series XM 07 59, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,125 | 1,125 | |
Series XM 10 48, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 7,385 | 7,385 | |
Series XM 10 49, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,850 | 1,850 | |
Series XX 11 41, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,400 | 1,400 | |
Illinois Hsg. Dev. Auth. Participating VRDN Series 2023, 4.5% 9/7/23 (Liquidity Facility Citibank NA) (b)(f)(g) | 2,500 | 2,500 | |
Illinois Toll Hwy. Auth. Toll Hwy. Rev. Participating VRDN: | |||
Series 15 XF0277, 4.53% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 2,000 | 2,000 | |
Series XF 14 22, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,670 | 2,670 | |
Series XM 00 78, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 15,375 | 15,375 | |
Series XM 04 75, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 4,680 | 4,680 | |
Series XM 10 02, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 4,245 | 4,245 | |
Metropolitan Pier & Exposition Participating VRDN Series Floaters XF 10 45, 4.59% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,300 | 1,300 | |
TOTAL ILLINOIS | 166,810 | ||
Kentucky - 0.1% | |||
CommonSpirit Health Participating VRDN Series MIZ 90 21, 4.57% 9/7/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g) | 2,575 | 2,575 | |
Louisiana - 1.0% | |||
Louisiana Pub. Facilities Auth. Rev. Participating VRDN Series YX 12 95, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 5,600 | 5,600 | |
Louisiana Stadium and Exposition District Participating VRDN Series XF 15 56, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 3,000 | 3,000 | |
RIB Floater Trust Various States Participating VRDN Series Floater 2023, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 28,600 | 28,600 | |
TOTAL LOUISIANA | 37,200 | ||
Maryland - 0.0% | |||
Baltimore Proj. Rev. Bonds Series Floaters G 28, 4.67%, tender 1/2/24 (Liquidity Facility Royal Bank of Canada) (b)(d)(f)(g) | 400 | 400 | |
Montgomery County Gen. Oblig. Participating VRDN Series Floaters XG 02 15, 4.51% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,470 | 1,470 | |
TOTAL MARYLAND | 1,870 | ||
Massachusetts - 0.1% | |||
Massachusetts Dev. Fin. Agcy. Rev. Participating VRDN Series 2022 XL 03 65, 4.5% 9/7/23 (Liquidity Facility UBS AG) (b)(f)(g) | 4,340 | 4,340 | |
Michigan - 0.4% | |||
Mclaren Health Care Corp. Participating VRDN Series XL 02 71, 4.57% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 2,380 | 2,380 | |
Michigan Fin. Auth. Rev. Participating VRDN: | |||
Series Floaters XF 26 48, 4.5% 9/6/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,660 | 1,660 | |
Series XF 07 82, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,600 | 1,600 | |
Series XG 04 33, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 3,000 | 3,000 | |
Series XM 04 72, 4.5% 9/7/23 (Liquidity Facility Citibank NA) (b)(f)(g) | 5,500 | 5,500 | |
TOTAL MICHIGAN | 14,140 | ||
Minnesota - 0.1% | |||
Minnesota Hsg. Fin. Agcy. Participating VRDN Series XF 28 79, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 4,650 | 4,650 | |
Missouri - 1.6% | |||
Kansas City Indl. Dev. Auth. Participating VRDN: | |||
Series XG 03 96, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 5,200 | 5,200 | |
Series XG 04 02, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 5,920 | 5,920 | |
Series XG 04 79, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 3,025 | 3,025 | |
Series XL 04 58, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 3,840 | 3,840 | |
Kansas City Spl. Oblig. Participating VRDN Series YX 11 93, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,900 | 2,900 | |
Missouri Health & Edl. Facilities Auth. Rev. Participating VRDN Series Floaters C16, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 29,900 | 29,900 | |
Missouri Health & Edl. Facilities Rev.: | |||
Bonds Series 2023 G 121, 4.67%, tender 12/1/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,100 | 2,100 | |
Participating VRDN Series Floaters C17, 4.51% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 5,500 | 5,500 | |
St Louis County Spl. Oblig. Participating VRDN Series XG 03 82, 4.5% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 2,240 | 2,240 | |
TOTAL MISSOURI | 60,625 | ||
Nebraska - 0.1% | |||
Central Plains Energy Proj. Rev. Participating VRDN: | |||
Series 2022 ZL 03 01, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 1,400 | 1,400 | |
Series 2022 ZL 03 03, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 1,010 | 1,010 | |
TOTAL NEBRASKA | 2,410 | ||
Nevada - 0.3% | |||
Clark County School District Participating VRDN Series XF 14 73, 4.59% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,600 | 1,600 | |
Clark County Wtr. Reclamation District Participating VRDN Series XG 05 11, 4.5% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 9,000 | 9,000 | |
Las Vegas Convention & Visitors Auth. Participating VRDN Series XM 08 66, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,100 | 2,100 | |
TOTAL NEVADA | 12,700 | ||
New Jersey - 0.6% | |||
New Jersey Econ. Dev. Auth. Lease Rev. Participating VRDN Series Floaters XF 25 25, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,055 | 1,055 | |
New Jersey Econ. Dev. Auth. Rev. Participating VRDN: | |||
Series Floaters XF 23 93, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,750 | 1,750 | |
Series Floaters XL 00 52, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 6,625 | 6,625 | |
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev. Participating VRDN Series Floaters XG 01 78, 4.55% 9/7/23 (Liquidity Facility Bank of America NA) (b)(c)(f)(g) | 685 | 685 | |
New Jersey Tpk. Auth. Tpk. Rev. Participating VRDN Series XM 10 96, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 3,100 | 3,100 | |
New Jersey Trans. Trust Fund Auth. Participating VRDN: | |||
Series Floaters XG 02 05, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,900 | 1,900 | |
Series Floaters XX 10 93, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,900 | 3,900 | |
Series YX 12 68, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,500 | 3,500 | |
TOTAL NEW JERSEY | 22,515 | ||
New Mexico - 0.1% | |||
New Mexico Mtg. Fin. Auth. Participating VRDN Series YX 11 89, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,575 | 2,575 | |
New York - 4.0% | |||
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev. Participating VRDN: | |||
Series Floaters E 129, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 30,700 | 30,700 | |
Series XF 13 36, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 4,325 | 4,325 | |
New York Dorm. Auth. Rev. Bonds Series MS 00 09, 4.62%, tender 10/26/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 2,700 | 2,700 | |
New York Metropolitan Trans. Auth. Rev. Participating VRDN: | |||
Series RBC E 126, 4.52% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 4,800 | 4,800 | |
Series XF 24 19, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 5,625 | 5,625 | |
Series XF 28 68, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 7,000 | 7,000 | |
Series XF 28 78, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,600 | 2,600 | |
Series XF 30 00, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 11,700 | 11,700 | |
Series XG 02 90, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 16,420 | 16,420 | |
Series XX 11 56, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 9,165 | 9,165 | |
New York Trans. Dev. Corp. Participating VRDN Series 2022 E 154, 4.57% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 57,925 | 57,925 | |
TOTAL NEW YORK | 152,960 | ||
New York And New Jersey - 0.5% | |||
Port Auth. of New York & New Jersey Participating VRDN: | |||
Series Floaters XF 06 83, 4.51% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 2,000 | 2,000 | |
Series ROC 14086, 4.52% 9/7/23 (Liquidity Facility Citibank NA) (b)(c)(f)(g) | 12,210 | 12,210 | |
Series YX 11 78, 4.54% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 5,625 | 5,625 | |
Series ZL 02 55, 4.54% 9/7/23 (Liquidity Facility Bank of America NA) (b)(c)(f)(g) | 1,100 | 1,100 | |
TOTAL NEW YORK AND NEW JERSEY | 20,935 | ||
North Carolina - 0.2% | |||
Charlotte Int'l. Arpt. Rev. Participating VRDN Series 2022 ZL 03 41, 4.5% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 2,135 | 2,135 | |
Greater Asheville Reg'l. Arpt. Auth. Participating VRDN: | |||
Series XF 15 32, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 2,330 | 2,330 | |
Series XM 10 11, 4.54% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 2,100 | 2,100 | |
TOTAL NORTH CAROLINA | 6,565 | ||
Ohio - 0.8% | |||
CommonSpirit Health Participating VRDN Series MIZ 90 20, 4.57% 9/7/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g) | 1,665 | 1,665 | |
Cuyahoga County Ctfs. of Prtn. Participating VRDN Series Floaters XG 02 06, 4.57% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 5,300 | 5,300 | |
Cuyahoga County Hosp. Rev. Participating VRDN: | |||
Series 2022 XX 12 67, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 4,500 | 4,500 | |
Series XX 12 66, 4.51% 9/5/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,845 | 2,845 | |
Montgomery County Hosp. Rev. Participating VRDN: | |||
Series Floaters E 132, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 3,800 | 3,800 | |
Series XX 12 48, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 5,400 | 5,400 | |
Ohio Higher Edl. Facility Commission Rev. Participating VRDN Series XF 31 14, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 2,875 | 2,875 | |
Ohio Hosp. Rev. Participating VRDN: | |||
Series C18, 4.51% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,400 | 2,400 | |
Series XG 04 90, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,610 | 2,610 | |
TOTAL OHIO | 31,395 | ||
Oklahoma - 0.2% | |||
Edmond Pub. Works Auth. Sales Tax & Util. Sys. Rev. Participating VRDN Series Floaters XM 05 59, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 3,400 | 3,400 | |
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Participating VRDN Series E 140, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 3,105 | 3,105 | |
TOTAL OKLAHOMA | 6,505 | ||
Oregon - 0.2% | |||
Multnomah County School District #1J Portland Participating VRDN Series XF 15 30, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 6,700 | 6,700 | |
Pennsylvania - 1.7% | |||
Commonwealth Fing. Auth. Tobacco Participating VRDN Series XX 10 80, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,700 | 2,700 | |
Geisinger Auth. Health Sys. Rev. Participating VRDN Series XM 08 87, 4.67% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 765 | 765 | |
Lehigh County Gen. Purp. Hosp. Rev. Participating VRDN: | |||
Series BAML 23 50 39, 4.72% 10/5/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,900 | 1,900 | |
Series XF 15 11, 4.52% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 2,855 | 2,855 | |
Pennsylvania Econ. Dev. Fing. Auth. Participating VRDN: | |||
Series XG 04 37, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 26,995 | 26,995 | |
Series XM 10 83, 4.55% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 6,970 | 6,970 | |
Pennsylvania Higher Edl. Facilities Auth. Rev. Participating VRDN Series XG 02 63, 4.5% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 3,615 | 3,615 | |
Pennsylvania State Univ. Participating VRDN Series XM 08 27, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 3,100 | 3,100 | |
Pennsylvania Tpk. Commission Tpk. Rev. Participating VRDN Series XM 10 08, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 830 | 830 | |
Philadelphia Arpt. Rev. Participating VRDN Series YX 12 11, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 12,545 | 12,545 | |
Southeastern Pennsylvania Trans. Auth. Rev. Participating VRDN Series XG 04 13, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 1,400 | 1,400 | |
TOTAL PENNSYLVANIA | 63,675 | ||
South Carolina - 0.3% | |||
South Carolina Pub. Svc. Auth. Rev. Participating VRDN: | |||
Series 2017 XF 2425, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,600 | 2,600 | |
Series Floaters XG 02 09, 4.51% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 4,410 | 4,410 | |
Series XL 04 18, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 6,195 | 6,195 | |
TOTAL SOUTH CAROLINA | 13,205 | ||
Tennessee - 0.2% | |||
Metropolitan Nashville Arpt. Auth. Rev. Participating VRDN: | |||
Series XL 03 82, 4.54% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 3,300 | 3,300 | |
Series XL 04 40, 4.53% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 1,220 | 1,220 | |
Series YX 12 89, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 3,300 | 3,300 | |
TOTAL TENNESSEE | 7,820 | ||
Texas - 1.9% | |||
Austin Arpt. Sys. Rev. Participating VRDN Series YX 11 99, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 6,500 | 6,500 | |
Bastrop Independent School District Participating VRDN Series XF 15 78, 3.57% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 4,800 | 4,800 | |
El Paso Wtr. & Swr. Rev. Bonds: | |||
Series 2022 MS 00 10, 4.64%, tender 10/5/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 7,600 | 7,600 | |
Series G 124, 4.67%, tender 9/1/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(f)(g)(h) | 1,300 | 1,300 | |
Harris County Children's Hosp. Participating VRDN Series E-149, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,000 | 2,000 | |
Houston Arpt. Sys. Rev. Participating VRDN Series XF 31 26, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 16,860 | 16,860 | |
Medina Valley Texas Independent School District Participating VRDN Series XG 05 05, 4.52% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 4,000 | 4,000 | |
North Ft. Bend Wtr. Auth. Participating VRDN: | |||
Series XL 04 22, 4.58% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 2,300 | 2,300 | |
Series ZF 30 86, 4.5% 9/7/23 (Liquidity Facility Wells Fargo Bank NA) (b)(f)(g) | 3,990 | 3,990 | |
Spring Branch Independent School District Participating VRDN Series XL 03 35, 4.5% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 1,875 | 1,875 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Participating VRDN: | |||
Series 16 XF0411, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 6,900 | 6,900 | |
Series XG 04 21, 4.52% 9/7/23 (Liquidity Facility Bank of America NA) (b)(f)(g) | 2,125 | 2,125 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev. Participating VRDN Series 2021 E1 50, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 5,000 | 5,000 | |
Texas Private Activity Bond Surface Trans. Corp. Participating VRDN Series XM 11 23, 4.54% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 4,100 | 4,100 | |
Texas Wtr. Dev. Board Rev. Participating VRDN Series XF 13 29, 4.51% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(f)(g) | 5,000 | 5,000 | |
TOTAL TEXAS | 74,350 | ||
Utah - 0.8% | |||
Salt Lake City Arpt. Rev. Participating VRDN: | |||
Series Floaters XM 06 99, 4.52% 9/7/23 (Liquidity Facility UBS AG) (b)(c)(f)(g) | 12,255 | 12,255 | |
Series XF 15 50, 4.55% 9/7/23 (Liquidity Facility Toronto-Dominion Bank) (b)(c)(f)(g) | 2,955 | 2,955 | |
Series XL 04 57, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 2,700 | 2,700 | |
Series XL 04 59, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 5,300 | 5,300 | |
Series XX 12 49, 4.52% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 4,840 | 4,840 | |
Utah County Hosp. Rev. Participating VRDN Series XM 10 03, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 2,440 | 2,440 | |
TOTAL UTAH | 30,490 | ||
Virginia - 0.6% | |||
Chesapeake Bay Bridge and Tunnel District Gen. Resolution Rev. Participating VRDN Series XF 30 64, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 5,300 | 5,300 | |
Norfolk Econ. Dev. Health Care Facilities Participating VRDN Series 2022 C19, 4.51% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,500 | 2,500 | |
Suffolk Econ. Dev. Auth. Hosp. Facilities Rev. Participating VRDN Series MIZ 90 25, 4.57% 9/7/23 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(f)(g) | 4,800 | 4,800 | |
Univ. of Virginia Gen. Rev. Participating VRDN Series XG 04 08, 4.5% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(f)(g) | 3,375 | 3,375 | |
Virginia Small Bus. Fing. Auth. Participating VRDN Series XM 11 09, 4.53% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(c)(f)(g) | 3,215 | 3,215 | |
Williamsburg Econ. Dev. Participating VRDN Series XF 15 46, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,905 | 2,905 | |
TOTAL VIRGINIA | 22,095 | ||
Washington - 1.3% | |||
Barclays Bank PLC Participating VRDN Series YX 12 41, 4.54% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 3,625 | 3,625 | |
Central Puget Sound Reg'l. Trans. Auth. Sales & Use Tax Rev. Bonds Series G 123, 4.67%, tender 11/1/23 (Liquidity Facility Royal Bank of Canada) (b)(d)(f)(g) | 1,000 | 1,000 | |
CommonSpirit Health Participating VRDN Series XF 1017, 4.1% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 1,000 | 1,000 | |
Multicare Health Sys. Participating VRDN Series E 153, 4.5% 9/7/23 (Liquidity Facility Royal Bank of Canada) (b)(f)(g) | 2,900 | 2,900 | |
Port of Seattle Rev. Participating VRDN: | |||
Series 2022 ZF 30 68, 4.52% 9/7/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(c)(f)(g) | 2,700 | 2,700 | |
Series 2022 ZL 03 16, 4.54% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(c)(f)(g) | 4,900 | 4,900 | |
Series Floaters XM 06 65, 4.57% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 12,700 | 12,700 | |
Series XF 13 71, 4.61% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 4,300 | 4,300 | |
Series XM 08 75, 4.57% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(c)(f)(g) | 2,620 | 2,620 | |
Washington Convention Ctr. Pub. Facilities Participating VRDN: | |||
Series 2022 XX 12 38, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 4,000 | 4,000 | |
Series XG 02 92, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 400 | 400 | |
Washington Gen. Oblig. Participating VRDN Series 2022 ZF 14 03, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 1,675 | 1,675 | |
Washington Health Care Facilities Auth. Rev. Participating VRDN: | |||
Series 15 XF0132, 4.57% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 3,175 | 3,175 | |
Series XF 30 62, 4.51% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 2,300 | 2,300 | |
Series YX 12 10, 4.57% 9/7/23 (Liquidity Facility Barclays Bank PLC) (b)(f)(g) | 3,300 | 3,300 | |
TOTAL WASHINGTON | 50,595 | ||
Wisconsin - 0.1% | |||
Wisconsin Health & Edl. Facilities Participating VRDN Series Floaters XF 07 41, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 2,715 | 2,715 | |
Wyoming - 0.2% | |||
Wyoming Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. Participating VRDN Series XL 00 70, 4.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank) (b)(f)(g) | 6,600 | 6,600 | |
TOTAL TENDER OPTION BOND (Cost $1,258,630) | 1,258,630 | ||
Other Municipal Security - 23.0% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Alabama - 0.3% | |||
Huntsville Health Care Auth. Rev. Series 2023, 3.6% 9/26/23, CP | 10,900 | 10,900 | |
Alaska - 0.0% | |||
Anchorage Gen. Oblig. Bonds Series 2015 B, 5% 9/1/23 | 950 | 950 | |
Arizona - 0.0% | |||
Phoenix Civic Impt. Board Arpt. Rev. Bonds Series 2019 B, 5% 7/1/24 (c) | 1,000 | 1,009 | |
Colorado - 0.1% | |||
Colorado Ctfs. of Prtn. Bonds Series 2022, 6% 12/15/23 | 500 | 503 | |
Colorado Ed. Ln. Prog. TRAN Series 2023 A, 5% 6/28/24 | 165 | 167 | |
Denver City & County Arpt. Rev. Bonds: | |||
Series 2012 A, 5% 11/15/23 (c) | 2,550 | 2,551 | |
Series 2017 A, 5% 11/15/23 (c) | 500 | 501 | |
TOTAL COLORADO | 3,722 | ||
Connecticut - 0.0% | |||
Connecticut Higher Ed. Supplemental Ln. Auth. Rev. Bonds (Chesla Ln. Prog.) Series 2017 A, 5% 11/15/23 (Escrowed to Maturity) (c) | 1,100 | 1,103 | |
District Of Columbia - 0.8% | |||
District of Columbia Wtr. & Swr. Auth. Pub. Util. Rev. Bonds Series 2013 A: | |||
5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 3,980 | 3,985 | |
5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 2,060 | 2,062 | |
Metropolitan Washington DC Arpts. Auth. Sys. Rev. Bonds: | |||
Series 2014 A, 5% 10/1/23 (c) | 1,145 | 1,146 | |
Series 2017 A, 5% 10/1/24 (c) | 8,845 | 8,952 | |
Series 2018 A, 5% 10/1/23 (c) | 6,935 | 6,942 | |
Series 2019 A, 5% 10/1/23 (c) | 1,750 | 1,752 | |
Series 2020 A, 5% 10/1/23 (c) | 2,575 | 2,578 | |
Series 2022 A, 5% 10/1/23 (c) | 1,910 | 1,912 | |
TOTAL DISTRICT OF COLUMBIA | 29,329 | ||
Florida - 3.6% | |||
Broward County Arpt. Sys. Rev. Bonds: | |||
Series 2013 A, 5.25% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) (c) | 885 | 886 | |
Series 2013 C, 5.25% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 4,400 | 4,407 | |
Deltona Util. Sys. Rev. Bonds Series 2013, 5.125% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 420 | 421 | |
Florida Local Govt. Fin. Cmnty. Series 2023 A1, 3.6% 10/4/23, LOC JPMorgan Chase Bank, CP | 8,917 | 8,917 | |
Fort Myers Util. Sys. Rev. Bonds: | |||
Series 2020 A, 5% 10/1/23 | 800 | 801 | |
Series 2020 B, 5% 10/1/23 | 2,115 | 2,117 | |
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Bonds: | |||
Series 2015 A, 5% 10/1/23 (c) | 595 | 596 | |
Series 2019 A, 5% 10/1/23 (c) | 8,595 | 8,603 | |
Series 2022 A, 5% 10/1/23 (c) | 200 | 200 | |
Hillsborough County Aviation Auth. Rev. Bonds Series 2013 A, 5.5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) (c) | 3,355 | 3,359 | |
Miami-Dade County Bonds: | |||
Series 2013 A: | |||
5.5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 3,000 | 3,004 | |
5.5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 2,460 | 2,464 | |
Series 2013 B, 6% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) (c) | 2,000 | 2,004 | |
Miami-Dade County Wtr. & Swr. Rev. Bonds Series 2013 B, 5.25% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 700 | 701 | |
Polk County Indl. Dev. Auth. Health Sys. Rev. Bonds: | |||
Series 2014 A, SIFMA Municipal Swap Index + 0.300% 4.77%, tender 3/28/24 (b)(h) | 28,200 | 28,200 | |
Series 2014 A1, SIFMA Municipal Swap Index + 0.250% 4.72%, tender 3/28/24 (b)(h) | 28,900 | 28,900 | |
Tampa Health Sys. Rev. Bonds Series 2012 B, SIFMA Municipal Swap Index + 0.300% 4.77%, tender 3/28/24 (b)(h) | 42,015 | 42,015 | |
TOTAL FLORIDA | 137,595 | ||
Georgia - 0.9% | |||
Atlanta Arpt. Rev.: | |||
Bonds Series 2014 C, 5% 1/1/24 (c) | 1,000 | 1,004 | |
Series 2023 M2, 3.65% 9/7/23, LOC Bank of America NA, CP (c) | 5,800 | 5,800 | |
Series 2023 O2, 3.65% 9/7/23, LOC JPMorgan Chase Bank, CP (c) | 25,683 | 25,683 | |
Fulton County Gen. Oblig. TAN Series 2023, 5% 12/29/23 | 800 | 804 | |
Houston County Hosp. Auth. Rev. Bonds Series 2016 A, 5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100) | 2,250 | 2,266 | |
TOTAL GEORGIA | 35,557 | ||
Hawaii - 0.1% | |||
Hawaii Gen. Oblig. Bonds Series 2016 FE, 5% 10/1/23 | 2,790 | 2,793 | |
Illinois - 1.6% | |||
Illinois Fin. Auth. Rev. Bonds: | |||
(Advocate Health Care Network Proj.) Series 2011 B, SIFMA Municipal Swap Index + 0.300% 4.8%, tender 3/28/24 (b)(h) | 40,690 | 40,690 | |
Series 2016 C, 5% 2/15/24 | 1,465 | 1,474 | |
Illinois Gen. Oblig. Bonds: | |||
Series 2017 D, 5% 11/1/23 | 1,695 | 1,698 | |
Series 2018 A, 5% 10/1/23 | 1,300 | 1,301 | |
Series 2021 C, 4% 3/1/24 | 1,700 | 1,703 | |
Series 2022 A, 5% 3/1/24 | 510 | 513 | |
Illinois Hsg. Dev. Auth. Bonds Series 2023 G, 3.5%, tender 6/4/24 (b) | 11,600 | 11,600 | |
Southwestern Dev. Auth. Heath Facility Rev. Bonds Series 2013, 7.125% 11/1/23 (Pre-Refunded to 11/1/23 @ 100) | 3,530 | 3,549 | |
TOTAL ILLINOIS | 62,528 | ||
Kansas - 0.0% | |||
Wichita Gen. Oblig. BAN Series 310, 5% 10/13/23 | 1,710 | 1,712 | |
Kentucky - 0.2% | |||
Kentucky Asset/Liability Commission Gen. Fund Rev. Bonds Series 2021 A, 5% 11/1/23 | 2,160 | 2,165 | |
Kentucky State Property & Buildings Commission Rev. Bonds: | |||
Series 2013 A: | |||
5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 630 | 630 | |
5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 1,800 | 1,802 | |
Series 2016 B, 5% 11/1/23 | 1,010 | 1,012 | |
Series 2016, 5% 11/1/23 | 400 | 401 | |
TOTAL KENTUCKY | 6,010 | ||
Massachusetts - 1.0% | |||
Marlborough Gen. Oblig. BAN Series 2023, 5% 6/13/24 | 4,500 | 4,542 | |
Sudbury Gen. Oblig. BAN Series 2023, 5% 2/7/24 | 31,812 | 32,003 | |
TOTAL MASSACHUSETTS | 36,545 | ||
Michigan - 1.1% | |||
Kent Hosp. Fin. Auth. Hosp. Facilities Rev. Bonds (Spectrum Health Sys. Proj.) Series 2015 A, SIFMA Municipal Swap Index + 0.250% 4.72%, tender 3/28/24 (b)(h) | 18,845 | 18,845 | |
Michigan Bldg. Auth. Rev. Series 2023, 3.48% 10/5/23, LOC JPMorgan Chase Bank, CP | 16,400 | 16,400 | |
Michigan Fin. Auth. Rev. Bonds Series 2015 A, 5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100) | 600 | 607 | |
Univ. of Michigan Rev. Series 2023 L1, 3.5% 10/4/23, CP | 5,300 | 5,300 | |
TOTAL MICHIGAN | 41,152 | ||
Minnesota - 0.3% | |||
Minnesota Gen. Oblig. Bonds Series 2013 E, 5% 10/1/23 | 1,000 | 1,001 | |
Univ. of Minnesota Gen. Oblig. Series 2023, 3.62% 10/10/23, CP | 10,700 | 10,700 | |
TOTAL MINNESOTA | 11,701 | ||
Nebraska - 0.3% | |||
Omaha Pub. Pwr. District Elec. Rev.: | |||
Series 2023 A: | |||
3.42% 10/10/23, CP | 2,900 | 2,900 | |
3.75% 11/28/23, CP | 5,675 | 5,675 | |
Series 2023, 3.7% 11/28/23, CP | 3,600 | 3,600 | |
TOTAL NEBRASKA | 12,175 | ||
New Hampshire - 0.0% | |||
New Hampshire Bus. Fin. Auth. Wtr. Facility Bonds (Pennichuck Wtr. Works, Inc. Proj.) Series 2014 A, 5% 1/1/24 (Escrowed to Maturity) (c) | 1,120 | 1,124 | |
New Jersey - 0.9% | |||
Beachwood BAN Series 2023 A, 5% 2/28/24 | 3,135 | 3,156 | |
Brick Township Gen. Oblig. BAN Series 2023, 5% 6/12/24 | 7,300 | 7,374 | |
Evesham Township BAN Series 2022 B, 4% 9/20/23 | 3,895 | 3,897 | |
Florence Township BAN Series 2023, 5% 5/31/24 | 4,300 | 4,347 | |
Jefferson Township Gen. Oblig. BAN Series 2023, 5% 6/14/24 | 2,954 | 2,982 | |
Monroe Township Middlesex County Gen. Oblig. BAN Series 2023, 5% 6/4/24 | 9,500 | 9,601 | |
New Jersey Edl. Facility Bonds Series 2014 A, 5% 9/1/23 | 1,800 | 1,800 | |
Wood-Ridge Gen. Oblig. BAN Series 2023, 5.5% 2/27/24 | 1,900 | 1,916 | |
TOTAL NEW JERSEY | 35,073 | ||
New York - 0.8% | |||
Lancaster Central School District BAN Series 2023, 5% 6/7/24 | 8,200 | 8,278 | |
North Hempstead Gen. Oblig. BAN Series 2022 C, 4.5% 9/22/23 | 9,500 | 9,508 | |
Queensbury Union Free School District BAN Series 2023, 5% 5/31/24 | 4,583 | 4,629 | |
Webster Town BAN Series 2023, 5% 8/28/24 | 6,590 | 6,672 | |
TOTAL NEW YORK | 29,087 | ||
North Carolina - 0.2% | |||
Charlotte Int'l. Arpt. Rev. Bonds Series 2022 B, 5% 7/1/24 (c) | 895 | 904 | |
East Carolina Univ. Univ. Rev. Bonds Series 2014 A: | |||
5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 625 | 626 | |
5% 10/1/23 (Pre-Refunded to 10/1/23 @ 100) | 600 | 601 | |
North Carolina Tpk. Auth. Triangle Expressway Sys. Bonds Series 2020 C, 5% 2/1/24 (Escrowed to Maturity) | 3,900 | 3,923 | |
TOTAL NORTH CAROLINA | 6,054 | ||
Ohio - 0.3% | |||
Ohio Cap. Facilities Lease Bonds (Adult Correctrional Bldg. Fund Projs.) Series 2019 B, 5% 10/1/23 | 1,250 | 1,251 | |
Ohio Gen. Oblig. Bonds Series 2016 A, 5% 9/1/23 | 1,500 | 1,500 | |
Ohio Higher Edl. Facility Commission Rev. Bonds Series 2023 B5, 3.4% tender 9/6/23, CP mode | 7,500 | 7,500 | |
Wyoming City School District BAN Series 2023, 5.5% 5/15/24 | 1,310 | 1,324 | |
TOTAL OHIO | 11,575 | ||
Oklahoma - 0.1% | |||
Oklahoma City Wtr. Utils. Series 2023 A, 3.7% 10/3/23 (Liquidity Facility State Street Bank & Trust Co., Boston), CP | 2,500 | 2,500 | |
Tulsa Int'l. Arpt. Gen. Rev. Bonds Series 2015 A: | |||
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100) (c) | 925 | 933 | |
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100) (c) | 890 | 898 | |
TOTAL OKLAHOMA | 4,331 | ||
Oregon - 0.1% | |||
Oregon St Dept. Trans. Rev. Series 2023 A1, 3.5% 9/27/23, LOC Wells Fargo Bank NA, CP | 3,000 | 3,000 | |
Port of Portland Arpt. Rev. Bonds Series 2017 B, 5% 7/1/24 (c) | 490 | 495 | |
TOTAL OREGON | 3,495 | ||
Pennsylvania - 0.9% | |||
Pennsylvania State Univ. Bonds Series 2016 B, 5% 9/1/23 | 760 | 760 | |
Philadelphia Arpt. Rev.: | |||
Series 2023 B1, 3.7% 10/5/23, LOC TD Banknorth, NA, CP (c) | 20,221 | 20,221 | |
Series 2023, 3.45% 10/5/23, LOC TD Banknorth, NA, CP (c) | 5,000 | 5,000 | |
Univ. of Pittsburgh Commonwealth Sys. of Higher Ed. Bonds Series 2023 B1, 3.28% tender 9/7/23, CP mode | 6,900 | 6,900 | |
TOTAL PENNSYLVANIA | 32,881 | ||
South Carolina - 0.0% | |||
Charleston County School District BAN Series 2023 A, 5% 11/15/23 | 525 | 526 | |
Tennessee - 0.3% | |||
Memphis Gen. Oblig. Series 2023 A, 3.4% 10/3/23 (Liquidity Facility State Street Bank & Trust Co., Boston), CP | 7,200 | 7,200 | |
Metropolitan Govt. of Nashville & Davidson County Series 2023, 3.6% 2/7/24, CP | 3,600 | 3,600 | |
TOTAL TENNESSEE | 10,800 | ||
Texas - 7.5% | |||
Austin Elec. Util. Sys. Rev.: | |||
Series 2023 A: | |||
3.42% 10/3/23 (Liquidity Facility JPMorgan Chase Bank), CP | 23,900 | 23,900 | |
3.5% 9/7/23 (Liquidity Facility JPMorgan Chase Bank), CP | 5,800 | 5,800 | |
Series 2023, 3.57% 10/3/23 (Liquidity Facility JPMorgan Chase Bank), CP | 5,800 | 5,800 | |
Fort Worth Independent School District Bonds Series 2014, 5% 2/15/24 (Permanent School Fund of Texas Guaranteed) (Pre-Refunded to 2/15/24 @ 100) | 1,100 | 1,107 | |
Frenship Independent School District Bonds Series 2014, 5% 2/15/24 (Pre-Refunded to 2/15/24 @ 100) | 1,500 | 1,510 | |
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Bonds: | |||
Series 2023 B1, 3.55% tender 10/2/23, CP mode | 9,800 | 9,800 | |
Series 2023 B2, 3.7% tender 12/1/23, CP mode | 11,100 | 11,100 | |
Harris County Gen. Oblig. Series 2023 A1, 3.4% 9/6/23 (Liquidity Facility State Street Bank & Trust Co., Boston), CP | 3,745 | 3,745 | |
Houston Higher Ed. Fin. Corp. Higher Ed. Rev. Series 2023 A: | |||
3.3% 9/6/23, CP | 3,000 | 3,000 | |
3.35% 9/21/23, CP | 3,000 | 3,000 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Bonds (Baylor Health Care Sys. Proj.): | |||
Series 2011 B, SIFMA Municipal Swap Index + 0.300% 4.8%, tender 3/28/24 (b)(h) | 31,700 | 31,700 | |
Series 2013 B, SIFMA Municipal Swap Index + 0.300% 4.8%, tender 3/28/24 (b)(h) | 31,000 | 31,000 | |
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev. Bonds Series 2017 A, 5% 2/15/24 | 485 | 488 | |
Texas Gen. Oblig. Bonds Series 2021 B, 4% 8/1/24 (c) | 1,610 | 1,616 | |
Univ. of Texas Board of Regents Sys. Rev.: | |||
Series 2023 A: | |||
3.25% 9/14/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 5,000 | 5,000 | |
3.29% 9/18/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 25,000 | 25,000 | |
3.3% 9/5/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 3,700 | 3,700 | |
3.3% 9/6/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 3,700 | 3,700 | |
3.3% 9/7/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 3,700 | 3,700 | |
3.3% 9/20/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,300 | 7,300 | |
3.47% 11/3/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,300 | 7,300 | |
3.5% 11/2/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,400 | 7,400 | |
3.55% 9/14/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,600 | 7,600 | |
3.6% 9/26/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 6,100 | 6,100 | |
3.68% 10/31/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 2,900 | 2,900 | |
3.7% 2/22/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 3,900 | 3,900 | |
Series 2023: | |||
3.5% 9/12/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,600 | 7,600 | |
3.5% 9/19/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,600 | 7,600 | |
3.55% 9/20/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,600 | 7,600 | |
3.6% 9/27/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,600 | 7,600 | |
3.6% 10/11/23 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,600 | 7,600 | |
3.7% 2/14/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP | 7,400 | 7,400 | |
Univ. of Texas Permanent Univ. Fund Rev.: | |||
Series 2023 A: | |||
3.35% 9/18/23, CP | 7,200 | 7,200 | |
3.43% 10/12/23, CP | 7,200 | 7,200 | |
3.55% 9/15/23, CP | 7,600 | 7,600 | |
Series 2023, 3.7% 10/6/23, CP | 2,900 | 2,900 | |
TOTAL TEXAS | 287,466 | ||
Utah - 0.0% | |||
Utah Charter School Fin. Auth. Bonds (Providence Hall Elementary School and High School Projs.) Series 2013 A, 5% 10/15/23 (Pre-Refunded to 10/15/23 @ 100) | 845 | 846 | |
Vermont - 0.1% | |||
Vermont Econ. Dev. Auth. Rev. Series 2023 D, 3.6% 9/13/23, LOC JPMorgan Chase Bank, CP (c) | 3,000 | 3,000 | |
Virginia - 0.1% | |||
Virginia Pub. Bldg. Auth. Pub. Facilities Rev. Bonds Series 2019 B, 5% 8/1/24 (c) | 2,300 | 2,327 | |
Washington - 0.7% | |||
Grant County Pub. Util. District #2 Bonds Series 2014 B: | |||
5% 7/1/24 (Pre-Refunded to 7/1/24 @ 100) (c) | 2,005 | 2,025 | |
5% 7/1/24 (Pre-Refunded to 7/1/24 @ 100) (c) | 2,105 | 2,128 | |
Port of Seattle Rev. Bonds: | |||
Series 2015 C, 5% 4/1/24 (c) | 3,360 | 3,385 | |
Series 2017 D, 5% 5/1/24 (c) | 3,500 | 3,528 | |
Series 2019, 5% 4/1/24 (c) | 1,500 | 1,512 | |
Series 2021 A, 5% 12/1/23 | 840 | 843 | |
Series 2021, 5% 9/1/23 (c) | 1,755 | 1,755 | |
Series 2022 B, 5% 8/1/24 (c) | 4,800 | 4,849 | |
Univ. of Washington Univ. Revs. Series 2023, 3.5% 10/16/23, CP | 5,800 | 5,800 | |
TOTAL WASHINGTON | 25,825 | ||
Wisconsin - 0.7% | |||
Wisconsin Gen. Oblig. Series 2023: | |||
3.45% 10/3/23, CP | 18,704 | 18,704 | |
3.45% 4/29/24, CP | 9,300 | 9,300 | |
TOTAL WISCONSIN | 28,004 | ||
TOTAL OTHER MUNICIPAL SECURITY (Cost $877,195) | 877,195 | ||
Investment Company - 0.2% | |||
Shares | Value ($) (000s) | ||
Fidelity Municipal Cash Central Fund 4.50% (i)(j) (Cost $6,590) | 6,589 | 6,590 | |
TOTAL INVESTMENT IN SECURITIES - 99.4% (Cost $3,788,905) | 3,788,905 |
NET OTHER ASSETS (LIABILITIES) - 0.6% | 23,673 |
NET ASSETS - 100.0% | 3,812,578 |
BAN | - | BOND ANTICIPATION NOTE |
CP | - | COMMERCIAL PAPER |
TAN | - | TAX ANTICIPATION NOTE |
TRAN | - | TAX AND REVENUE ANTICIPATION NOTE |
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) | 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 $21,000,000 or 0.6% of net assets. |
(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 $53,200,000 or 1.4% of net assets. |
(f) | Provides evidence of ownership in one or more underlying municipal bonds. |
(g) | Coupon rates are determined by re-marketing agents based on current market conditions. |
(h) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(i) | Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Cost ($) (000s) |
Baltimore Proj. Rev. Bonds Series Floaters G 28, 4.67%, tender 1/2/24 (Liquidity Facility Royal Bank of Canada) | 1/03/23 | 400 |
Broward County Convention Ctr. Bonds Series MS 00 11, 4.59%, tender 11/2/23 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) | 1/19/23 | 9,200 |
Central Puget Sound Reg'l. Trans. Auth. Sales & Use Tax Rev. Bonds Series G 123, 4.67%, tender 11/1/23 (Liquidity Facility Royal Bank of Canada) | 2/09/23 | 1,000 |
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev. Bonds Series Floaters G 110, 4.65%, tender 10/2/23 (Liquidity Facility Royal Bank of Canada) | 4/01/21 - 12/20/22 | 3,300 |
El Paso Wtr. & Swr. Rev. Bonds Series G 124, 4.67%, tender 9/7/23 (Liquidity Facility Royal Bank of Canada) | 2/09/23 | 1,300 |
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Bonds Series Floaters G 25, 4.72%, tender 10/2/23 (Liquidity Facility Royal Bank of Canada) | 4/01/21 - 12/20/22 | 1,400 |
Port Auth. of New York & New Jersey Series 1992 2, 4.11% 10/2/23, VRDN | 7/15/20 | 500 |
Port Auth. of New York & New Jersey Series 1995 4, 4.14% 10/2/23, VRDN | 8/17/20 | 3,900 |
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 4.50% | 135,814 | 992,949 | 1,122,174 | 3,033 | 1 | - | 6,590 | 0.3% |
Total | 135,814 | 992,949 | 1,122,174 | 3,033 | 1 | - | 6,590 | |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amount) | August 31, 2023 | |||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $3,782,315) | $ | 3,782,315 | ||
Fidelity Central Funds (cost $6,590) | 6,590 | |||
Total Investment in Securities (cost $3,788,905) | $ | 3,788,905 | ||
Cash | 3,511 | |||
Receivable for securities sold on a delayed delivery basis | 7,250 | |||
Receivable for fund shares sold | 7,231 | |||
Interest receivable | 22,034 | |||
Distributions receivable from Fidelity Central Funds | 134 | |||
Prepaid expenses | 6 | |||
Other receivables | 2 | |||
Total assets | 3,829,073 | |||
Liabilities | ||||
Payable for investments purchased | $ | 9,321 | ||
Payable for fund shares redeemed | 4,937 | |||
Distributions payable | 806 | |||
Accrued management fee | 788 | |||
Other affiliated payables | 521 | |||
Other payables and accrued expenses | 122 | |||
Total Liabilities | 16,495 | |||
Net Assets | $ | 3,812,578 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 3,812,916 | ||
Total accumulated earnings (loss) | (338) | |||
Net Assets | $ | 3,812,578 | ||
Net Asset Value, offering price and redemption price per share ($3,812,578 ÷ 3,805,277 shares) | $ | 1.00 |
Statement of Operations | ||||
Amounts in thousands | Year ended August 31, 2023 | |||
Investment Income | ||||
Interest | $ | 115,281 | ||
Income from Fidelity Central Funds | 3,030 | |||
Total Income | 118,311 | |||
Expenses | ||||
Management fee | $ | 9,842 | ||
Transfer agent fees | 6,128 | |||
Accounting fees and expenses | 349 | |||
Custodian fees and expenses | 39 | |||
Independent trustees' fees and expenses | 14 | |||
Registration fees | 127 | |||
Audit | 59 | |||
Legal | 4 | |||
Miscellaneous | 83 | |||
Total expenses before reductions | 16,645 | |||
Expense reductions | (109) | |||
Total expenses after reductions | 16,536 | |||
Net Investment income (loss) | 101,775 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 39 | |||
Fidelity Central Funds | 1 | |||
Capital gain distributions from Fidelity Central Funds | 3 | |||
Total net realized gain (loss) | 43 | |||
Net increase in net assets resulting from operations | $ | 101,818 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended August 31, 2023 | Year ended August 31, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 101,775 | $ | 10,792 |
Net realized gain (loss) | 43 | (37) | ||
Net increase in net assets resulting from operations | 101,818 | 10,755 | ||
Distributions to shareholders | (101,791) | (11,388) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,800,019 | 689,167 | ||
Reinvestment of distributions | 94,454 | 10,791 | ||
Cost of shares redeemed | (2,204,182) | (1,224,861) | ||
Net increase (decrease) in net assets and shares resulting from share transactions | (309,709) | (524,903) | ||
Total increase (decrease) in net assets | (309,682) | (525,536) | ||
Net Assets | ||||
Beginning of period | 4,122,260 | 4,647,796 | ||
End of period | $ | 3,812,578 | $ | 4,122,260 |
Other Information | ||||
Shares | ||||
Sold | 1,800,019 | 689,167 | ||
Issued in reinvestment of distributions | 94,454 | 10,791 | ||
Redeemed | (2,204,182) | (1,224,861) | ||
Net increase (decrease) | (309,709) | (524,903) | ||
Fidelity® Municipal Money Market Fund |
Years ended August 31, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
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 | .026 | .003 | - B | .007 | .013 | |||||
Net realized and unrealized gain (loss) | - B | - B | - B | .001 | - B | |||||
Total from investment operations | .026 | .003 | - B | .008 | .013 | |||||
Distributions from net investment income | (.026) | (.003) | - B | (.007) | (.013) | |||||
Distributions from net realized gain | - | - B | - | (.001) | - B | |||||
Total distributions | (.026) | (.003) | - B | (.008) | (.013) | |||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 |
Total Return C | 2.61% | .27% | .01% | .76% | 1.30% | |||||
Ratios to Average Net Assets A,D,E | ||||||||||
Expenses before reductions | .42% | .41% | .41% | .42% | .42% | |||||
Expenses net of fee waivers, if any | .42% | .26% | .16% | .41% | .42% | |||||
Expenses net of all reductions | .42% | .26% | .16% | .41% | .42% | |||||
Net investment income (loss) | 2.56% | .24% | .01% | .71% | 1.29% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 3,813 | $ | 4,122 | $ | 4,648 | $ | 5,430 | $ | 6,546 |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 | $3,788,905 |
Capital loss carryforward | $(280) |
Short-term | $(280) |
August 31, 2023 | August 31, 2022 | |
Tax-exempt Income | 101,791 | 10,791 |
Long-term Capital Gains | - | 597 |
Total | $101,791 | $11,388 |
% of Average Net Assets | |
Fidelity Municipal Money Market Fund | .01 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Municipal Money Market Fund | 220,987 | 251,100 | - |
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, 2023 to August 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value March 1, 2023 | Ending Account Value August 31, 2023 | Expenses Paid During Period- C March 1, 2023 to August 31, 2023 | |||||||
Fidelity® Municipal Money Market Fund | .41% | |||||||||
Actual | $ 1,000 | $ 1,015.20 | $ 2.08 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.14 | $ 2.09 | |||||||
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Item 2.
Code of Ethics
As of the end of the period, August 31, 2023, 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 Municipal Money Market Fund (the “Funds”):
Services Billed by PwC
August 31, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Municipal Money Market Fund | $52,000 | $3,000 | $2,100 | $1,300 |
August 31, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Municipal Money Market Fund | $36,700 | $2,800 | $2,000 | $1,300 |
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, 2023A | August 31, 2022A | |
Audit-Related Fees | $8,284,200 | $7,914,600 |
Tax Fees | $1,000 | $353,200 |
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, 2023A | August 31, 2022A |
PwC | $13,595,300 | $13,246,700 |
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).
The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the “PCAOB”) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.
The Registrant is not a “foreign issuer,” as defined in 17 CFR 240.3b-4.
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 23, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | October 23, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | October 23, 2023 |