Hawaii Municipal Bond Fund
Schedule of Investments
as of March 31, 2022
Face Amount (000) | Value (000) | |||||||
MUNICIPAL BONDS — 98.1% | ||||||||
California — 1.2% | ||||||||
$ | 35 | Milpitas Unified School District, Ser A, GO 5.000%, 08/01/22, Pre-Refunded @ 100(A) | $ | 35 | ||||
75 | North Orange County, Community College District, Ser B, GO 4.000%, 08/01/22 | 76 | ||||||
1,050 | Orange County, Water District, Ser A, RB 5.000%, 08/15/23, Pre-Refunded @ 100(A) | 1,097 | ||||||
35 | San Mateo Foster City School District, Ser C, GO 3.500%, 08/01/22, Pre-Refunded @ 100(A) | 35 | ||||||
255 | University of California, Ser AF, RB 5.000%, 05/15/23, Pre-Refunded @ 100(A) | 264 | ||||||
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1,507 | ||||||||
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Colorado — 0.1% | ||||||||
100 | Denver City & County, School District No. 1, Ser B, GO, ST AID WITHHLDG Insured 5.000%, 12/01/22, Pre-Refunded @ 100(A) | 102 | ||||||
45 | University of Colorado, Ser A-2, RB 5.000%, 06/01/22, Pre-Refunded @ 100(A) | 45 | ||||||
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147 | ||||||||
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Florida — 0.2% | ||||||||
205 | Miami-Dade County, School Board, Ser D, COP 5.000%, 02/01/27 | 225 | ||||||
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Hawaii — 93.2% | ||||||||
Hawaii County, Ser A, GO | ||||||||
250 | 5.000%, 09/01/23 | 261 | ||||||
180 | 5.000%, 09/01/24 | 193 | ||||||
600 | 5.000%, 09/01/26 | 668 | ||||||
100 | 5.000%, 09/01/27 | 111 | ||||||
510 | 5.000%, 09/01/30 | 562 | ||||||
440 | 5.000%, 09/01/33 | 493 | ||||||
30 | 5.000%, 09/01/35 | 34 | ||||||
335 | 5.000%, 09/01/36 | 375 | ||||||
1,500 | 4.000%, 09/01/35 | 1,579 |
March 31, 2022 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 130 | 4.000%, 09/01/36 | $ | 144 | ||||
Hawaii County, Ser C, GO | ||||||||
450 | 5.000%, 09/01/24 | 482 | ||||||
110 | 5.000%, 09/01/27 | 122 | ||||||
Hawaii County, Ser D, GO | ||||||||
200 | 5.000%, 09/01/25 | 220 | ||||||
300 | 5.000%, 09/01/27 | 333 | ||||||
Hawaii State, Airports System Authority, Ser A, RB, AMT | ||||||||
115 | 5.000%, 07/01/31 | 129 | ||||||
1,000 | 5.000%, 07/01/36 | 1,159 | ||||||
2,000 | 5.000%, 07/01/45 | 2,130 | ||||||
1,000 | 4.000%, 07/01/39 | 1,051 | ||||||
1,000 | Hawaii State, Airports System Authority, Ser B, RB, AMT 5.000%, 07/01/24 | 1,059 | ||||||
Hawaii State, Airports System Authority, Ser D, RB | ||||||||
100 | 5.000%, 07/01/28 | 115 | ||||||
1,025 | 5.000%, 07/01/29 | 1,195 | ||||||
450 | 5.000%, 07/01/33 | 521 | ||||||
260 | 4.000%, 07/01/39 | 276 | ||||||
Hawaii State, Department of Budget & Finance, Pacific Health Project, Ser A, RB | ||||||||
820 | 6.000%, 07/01/33 | 861 | ||||||
310 | 4.000%, 01/01/24 | 318 | ||||||
Hawaii State, Department of Budget & Finance, RB | ||||||||
100 | 5.500%, 07/01/43 | 104 | ||||||
475 | 5.125%, 07/01/31 | 492 | ||||||
300 | 5.000%, 07/01/26 | 311 | ||||||
100 | 5.000%, 07/01/28 | 104 | ||||||
215 | 5.000%, 07/01/29 | 223 | ||||||
50 | 4.625%, 07/01/27 | 51 | ||||||
140 | 4.000%, 01/01/26 | 146 | ||||||
250 | 4.000%, 01/01/31 | 263 | ||||||
350 | 3.250%, 01/01/25 | 354 | ||||||
2,640 | 3.200%, 07/01/39 | 2,607 | ||||||
1,000 | 3.100%, 05/01/26 | 1,009 | ||||||
Hawaii State, Department of Budget & Finance, Ser A, RB | ||||||||
250 | 5.000%, 07/01/22 | 252 | ||||||
575 | 5.000%, 07/01/26 | 596 | ||||||
350 | 5.000%, 07/01/27 | 380 | ||||||
75 | 5.000%, 07/01/29 | 81 | ||||||
815 | 5.000%, 07/01/30 | 882 | ||||||
3,155 | 5.000%, 07/01/35 | 3,398 |
March 31, 2022 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 1,295 | 4.000%, 07/01/40 | $ | 1,343 | ||||
775 | Hawaii State, Department of Budget & Finance, Ser B, RB 5.000%, 07/01/28 | 803 | ||||||
Hawaii State, Department of Hawaiian Home Lands, Kapolie Office Facilities, Ser A, COP, AGM Insured | ||||||||
500 | 5.000%, 11/01/26 | 562 | ||||||
Hawaii State, Department of Hawaiian Home Lands, RB | ||||||||
240 | 5.000%, 04/01/24 | 254 | ||||||
580 | 5.000%, 04/01/25 | 629 | ||||||
500 | 5.000%, 04/01/27 | 567 | ||||||
30 | 5.000%, 04/01/29 | 34 | ||||||
65 | 5.000%, 04/01/31 | 72 | ||||||
350 | Hawaii State, Department of Hawaiian Home Lands, Ser A, RB 4.000%, 11/01/22 | 355 | ||||||
Hawaii State, Department of Transportation, Airports Division Lease Revenue, COP, AMT | ||||||||
1,045 | 5.000%, 08/01/27 | 1,083 | ||||||
2,075 | 5.000%, 08/01/28 | 2,148 | ||||||
500 | Hawaii State, Department of Transportation, COP, AMT Insured 5.250%, 08/01/25 | 521 | ||||||
Hawaii State, Harbor System Revenue, Ser A, RB, AMT | ||||||||
1,000 | 5.000%, 07/01/24 | 1,063 | ||||||
1,000 | 5.000%, 07/01/26 | 1,112 | ||||||
450 | 4.000%, 07/01/36 | 486 | ||||||
Hawaii State, Harbor System Revenue, Ser C, RB | ||||||||
1,250 | 4.000%, 07/01/32 | 1,386 | ||||||
75 | 4.000%, 07/01/38 | 82 | ||||||
1,000 | 4.000%, 07/01/39 | 1,087 | ||||||
800 | 4.000%, 07/01/40 | 869 | ||||||
Hawaii State, Highway Revenue, RB | ||||||||
1,080 | 5.000%, 01/01/37 | 1,276 | ||||||
355 | 5.000%, 01/01/40 | 417 | ||||||
Hawaii State, Highway Revenue, Ser A, RB | ||||||||
125 | 5.000%, 01/01/24 | 132 | ||||||
215 | 5.000%, 01/01/25 | 230 | ||||||
1,025 | 5.000%, 01/01/30 | 1,148 | ||||||
1,045 | 5.000%, 01/01/33 | 1,111 | ||||||
500 | 4.000%, 01/01/32 | 533 | ||||||
250 | 4.000%, 01/01/36 | 266 | ||||||
260 | Hawaii State, Highway Revenue, Ser B, RB 5.000%, 01/01/24 | 274 |
March 31, 2022 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 200 | Hawaii State, Housing Finance & Development, Kuhio Park Terrace Multi-Family Housing, Ser A, RB, FHLMC Insured 3.900%, 04/01/22 | $ | 200 | ||||
1,000 | Hawaii State, Housing Finance & Development, Wilikina Apartments Project, Ser A, RB 5.000%, 05/01/34 | 1,001 | ||||||
185 | Hawaii State, Ser EE, GO 5.000%, 11/01/22, Pre-Refunded @ 100(A) | 189 | ||||||
85 | Hawaii State, Ser EE-2017, GO 5.000%, 11/01/22, Pre-Refunded @ 100(A) | 87 | ||||||
1,115 | Hawaii State, Ser EF, GO 5.000%, 11/01/22, Pre-Refunded @ 100(A) | 1,139 | ||||||
975 | Hawaii State, Ser EH, GO 5.000%, 08/01/23, Pre-Refunded @ 100(A) | 1,017 | ||||||
95 | Hawaii State, Ser EH-2017, GO 5.000%, 08/01/23 (B) | 99 | ||||||
Hawaii State, Ser EO, GO | ||||||||
1,460 | 5.000%, 08/01/24, Pre-Refunded @ 100(A) | 1,562 | ||||||
1,210 | 5.000%, 08/01/29 | 1,288 | ||||||
1,105 | 5.000%, 08/01/30 | 1,176 | ||||||
75 | Hawaii State, Ser EP, GO 5.000%, 08/01/24, Pre-Refunded @ 100(A) | 80 | ||||||
Hawaii State, Ser ET, GO | ||||||||
450 | 5.000%, 10/01/25, Pre-Refunded @ 100(A) | 495 | ||||||
2,000 | 4.000%, 10/01/26 | 2,132 | ||||||
Hawaii State, Ser FB, GO | ||||||||
50 | 4.000%, 04/01/29 | 53 | ||||||
450 | 3.000%, 04/01/35 | 454 | ||||||
Hawaii State, Ser FG, GO | ||||||||
120 | 5.000%, 10/01/27 | 135 | ||||||
125 | 5.000%, 10/01/28 | 140 | ||||||
515 | 5.000%, 10/01/30 | 576 | ||||||
210 | 5.000%, 10/01/31 | 234 | ||||||
Hawaii State, Ser FH, GO | ||||||||
120 | 5.000%, 10/01/27 | 135 | ||||||
75 | 4.000%, 10/01/31 | 80 | ||||||
1,990 | Hawaii State, Ser FK, GO 5.000%, 05/01/29 | 2,260 | ||||||
685 | Hawaii State, Ser FN, GO 5.000%, 10/01/30 | 781 | ||||||
170 | Hawaii State, Ser FT, GO 5.000%, 01/01/30 | 195 |
March 31, 2022 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 835 | 5.000%, 01/01/31 | $ | 956 | ||||
Hawaii State, Ser FW, GO | ||||||||
975 | 5.000%, 01/01/30 | 1,143 | ||||||
2,040 | 5.000%, 01/01/37 | 2,360 | ||||||
1,210 | 5.000%, 01/01/39 | 1,396 | ||||||
Honolulu City & County, Board of Water Supply, Ser A, RB | ||||||||
900 | 5.000%, 07/01/28 | 1,048 | ||||||
400 | 5.000%, 07/01/34 | 487 | ||||||
Honolulu Hawaii City & County, Board of Water Supply, Ser A, RB | ||||||||
680 | 5.000%, 07/01/22, Pre-Refunded @ 100(A) | 687 | ||||||
235 | 5.000%, 07/01/23 | 245 | ||||||
525 | 5.000%, 07/01/24 | 561 | ||||||
250 | 5.000%, 07/01/24, Pre-Refunded @ 100(A) | 267 | ||||||
1,000 | 5.000%, 07/01/25 | 1,067 | ||||||
500 | 5.000%, 07/01/26 | 560 | ||||||
100 | 5.000%, 07/01/27 | 114 | ||||||
50 | 4.500%, 07/01/22, Pre-Refunded @ 100(A) | 50 | ||||||
1,000 | 4.000%, 07/01/38 | 1,107 | ||||||
1,000 | 4.000%, 07/01/40 | 1,103 | ||||||
Honolulu Hawaii City & County, GO | ||||||||
135 | 5.000%, 09/01/23 | 141 | ||||||
250 | 4.000%, 09/01/33 | 272 | ||||||
690 | 3.000%, 07/01/33 | 704 | ||||||
1,330 | 3.000%, 07/01/34 | 1,349 | ||||||
1,000 | 3.000%, 07/01/37 | 992 | ||||||
Honolulu Hawaii City & County, Ser A, GO | ||||||||
50 | 5.000%, 11/01/22, Pre-Refunded @ 100(A) | 51 | ||||||
1,000 | 5.000%, 10/01/23 | 1,048 | ||||||
350 | 5.000%, 10/01/29 | 384 | ||||||
800 | 5.000%, 10/01/31 | 876 | ||||||
530 | 5.000%, 09/01/32 | 603 | ||||||
1,420 | 5.000%, 10/01/32 | 1,553 | ||||||
200 | 5.000%, 10/01/36 | 218 | ||||||
1,500 | 5.000%, 10/01/37 | 1,636 | ||||||
1,175 | 5.000%, 09/01/38 | 1,353 | ||||||
25 | 4.000%, 11/01/22, Pre-Refunded @ 100(A) | 25 | ||||||
750 | 4.000%, 07/01/34 | 838 | ||||||
Honolulu Hawaii City & County, Ser B, GO | ||||||||
40 | 5.000%, 09/01/22 | 41 | ||||||
280 | 5.000%, 11/01/22 | 286 | ||||||
200 | 5.000%, 11/01/24 | 204 |
March 31, 2022 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 1,010 | 5.000%, 11/01/25 | $ | 1,031 | ||||
Honolulu Hawaii City & County, Ser C, GO | ||||||||
730 | 5.000%, 08/01/34 | 856 | ||||||
1,400 | 5.000%, 08/01/44 | 1,620 | ||||||
225 | 4.000%, 08/01/22 | 227 | ||||||
1,200 | 4.000%, 08/01/23 | 1,236 | ||||||
1,400 | 4.000%, 10/01/32 | 1,492 | ||||||
145 | 3.000%, 10/01/28 | 149 | ||||||
805 | Honolulu Hawaii City & County, Ser D, GO 5.000%, 07/01/23 | 838 | ||||||
625 | Honolulu Hawaii City & County, Ser F, GO 5.000%, 07/01/33 | 743 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, RB | ||||||||
1,000 | 5.000%, 07/01/25, Pre-Refunded @ 100(A) | 1,095 | ||||||
500 | 5.000%, 07/01/39 | 584 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser A, RB | ||||||||
50 | 5.000%, 07/01/22 | 51 | ||||||
115 | 5.000%, 07/01/22, Pre-Refunded @ 100(A) | 116 | ||||||
775 | 5.000%, 07/01/26 | 847 | ||||||
575 | 5.000%, 07/01/49 | 663 | ||||||
710 | 4.000%, 07/01/38 | 772 | ||||||
1,420 | 4.000%, 07/01/39 | 1,541 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser B, RB | ||||||||
730 | 5.000%, 07/01/23 | 760 | ||||||
25 | 4.000%, 07/01/22, Pre-Refunded @ 100(A) | 25 | ||||||
100 | 4.000%, 07/01/32 | 107 | ||||||
710 | 4.000%, 07/01/33 | 757 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser S, RB | ||||||||
105 | 5.000%, 07/01/27 | 115 | ||||||
Kauai County, GO | ||||||||
160 | 5.000%, 08/01/26 | 180 | ||||||
75 | 5.000%, 08/01/27 | 86 | ||||||
65 | 5.000%, 08/01/28 | 74 | ||||||
25 | 5.000%, 08/01/30 | 29 | ||||||
250 | 5.000%, 08/01/37 | 282 | ||||||
Kauai County, Ser A, GO | ||||||||
500 | 5.000%, 08/01/22, Pre-Refunded @ 100 (A) | 506 | ||||||
315 | 4.000%, 08/01/22, Pre-Refunded @ 100 (A) | 318 |
March 31, 2022 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
Maui County, GO | ||||||||
$ | 460 | 5.000%, 03/01/24 | $ | 487 | ||||
430 | 5.000%, 03/01/27 | 490 | ||||||
450 | 5.000%, 03/01/29 | 531 | ||||||
1,550 | 5.000%, 03/01/34 | 1,869 | ||||||
450 | 4.000%, 03/01/36 | 498 | ||||||
1,500 | Maui County, RB 3.250%, 09/01/36 | 1,539 | ||||||
University of Hawaii, Ser B, RB | ||||||||
1,500 | 5.000%, 10/01/34 | 1,635 | ||||||
1,000 | 4.000%, 10/01/23 | 1,033 | ||||||
University of Hawaii, Ser D, RB | ||||||||
700 | 4.000%, 10/01/32 | 779 | ||||||
100 | 3.000%, 10/01/30 | 103 | ||||||
University of Hawaii, Ser E, RB | ||||||||
1,485 | 5.000%, 10/01/25 | 1,635 | ||||||
1,430 | 5.000%, 10/01/32 | 1,594 | ||||||
University of Hawaii, Ser F, RB | ||||||||
100 | 5.000%, 10/01/27 | 115 | ||||||
2,425 | 5.000%, 10/01/35 | 2,777 | ||||||
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118,905 | ||||||||
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Kentucky — 0.2% | ||||||||
200 | Kentucky State, Public Energy Authority, Ser B, RB 4.000%, 07/01/22 | 201 | ||||||
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Massachusetts — 0.1% | ||||||||
50 | Massachusetts Port Authority, Ser B, RB 4.000%, 07/01/22 (B) | 50 | ||||||
70 | Massachusetts School Building Authority, Ser A, RB 4.000%, 08/15/22 (B) | 71 | ||||||
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121 | ||||||||
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New York — 0.9% | ||||||||
50 | New York City, Metropolitan Transportation Authority, Ser B, RB 5.000%, 11/15/23 | 52 | ||||||
55 | New York City, Metropolitan Transportation Authority, Ser C, RB 5.000%, 11/15/22 (B) | 56 | ||||||
1,000 | New York City, Trust for Cultural Resources, Ser S, RB 5.000%, 07/01/41 | 1,060 |
March 31, 2022 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
New York — (continued) | ||||||||
$ | 85 | New York City, Water & Sewer System, RB 5.000%, 06/15/22, Pre-Refunded @ 100(A) | $ | 86 | ||||
50 | New York City, Water & Sewer System, Ser EE, RB 4.000%, 06/15/22, Pre-Refunded @ 100(A) | 50 | ||||||
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1,304 | ||||||||
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Oklahoma ��� 0.4% | ||||||||
500 | Comanche County, Educational Facilities Authority, Ser A, RB 5.000%, 12/01/30 | 568 | ||||||
19 | Oklahoma State, Development Finance Authority, RB 5.000%, 06/01/44 | 20 | ||||||
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588 | ||||||||
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Oregon — 0.1% | ||||||||
100 | City of Portland Oregon, Oregon Limited Tax Revenue Bonds, Oregon Convention Center Completion Project, Ser B, GO 0.000%, 06/01/22 (C) | 100 | ||||||
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Tennessee — 0.3% | ||||||||
350 | Crossville Tennessee, Water & Sewer Revenue, Ser C, RB 4.000%, 06/01/22 | 352 | ||||||
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Texas — 0.8% | ||||||||
55 | City of Killeen, GO 5.000%, 08/01/22, Pre-Refunded @ 100(A) | 56 | ||||||
60 | City of San Antonio, GO 4.000%, 08/01/22, Pre-Refunded @ 100(A) | 61 | ||||||
1,000 | Tomball City, Independent School District, GO, PSF-GTD Insured 5.000%, 02/15/28 | 1,080 | ||||||
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1,197 | ||||||||
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Utah — 0.4% | ||||||||
450 | Utah State, Charter School Finance Authority, Ser A, RB, UT CSCE Insured 4.000%, 10/15/40 | 458 | ||||||
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March 31, 2022 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Washington — 0.2% | ||||||||
$ | 200 | Grant & Douglas Counties, School District No. 165-55J Ephrata, GO, SCH BD GTY Insured 5.000%, 12/01/22 | $ | 205 | ||||
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TOTAL MUNICIPAL BONDS (Cost $129,068) | 125,310 | |||||||
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Shares | ||||||||
CASH EQUIVALENT — 0.8% | ||||||||
1,011,360 | First American Treasury Obligations Fund, Cl X, 0.235% (D) (Cost $1,011) | 1,011 | ||||||
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TOTAL INVESTMENTS (Cost $130,079) —98.9% | $ | 126,321 | ||||||
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Percentages are based on Net Assets of $127,705 (000).
(A) | Pre-Refunded Security —The maturity date shown is the pre-refunded date. |
(B) | Escrowed to maturity. |
(C) | Zero coupon security. |
(D) | The rate reported is the 7-day effective yield as of March 31, 2022. |
AGM—Assured Guaranty Municipal
AMT—Alternative Minimum Tax
Cl—Class
COP—Certificate of Participation
FHLMC—Federal Home Loan Mortgage Corporation
GO—General Obligation
PSF-GTD—Guaranteed by Permanent School Fund
RB—Revenue Bond
Ser—Series
UT CSCE— Utah Charter School Enhancement Program
Cost figures are shown in thousands.
The following is a summary of the inputs used as of March 31, 2022, in valuing the Fund’s investments carried at value (000):
Hawaii Municipal Bond Fund | ||||||||||||||||
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Municipal Bonds | $ | — | $ | 125,310 | $ | — | $ | 125,310 | ||||||||
Cash Equivalent | 1,011 | — | — | 1,011 | ||||||||||||
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Total Investments in Securities | $ | 1,011 | $ | 125,310 | $ | — | $ | 126,321 | ||||||||
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March 31, 2022 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Amounts designated as “—” are $0.
For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
BSF-QH-001-3800
March 31, 2022 | www.bishopstreetfunds.com |