Hawaii Municipal Bond Fund
Schedule of Investments
as of March 31, 2024
Face Amount (000) | Value (000) | |||||||
MUNICIPAL BONDS — 98.4% | ||||||||
Hawaii — 98.3% | ||||||||
$ | 525 | Hawaii County, GO 5.000%, 09/01/40 | $ | 595 | ||||
1,060 | 4.000%, 09/01/42 | 1,066 | ||||||
Hawaii County, Ser A, GO | ||||||||
1,160 | 5.000%, 09/01/27 | 1,200 | ||||||
825 | 5.000%, 09/01/30 | 852 | ||||||
675 | 5.000%, 09/01/32 | 697 | ||||||
940 | 5.000%, 09/01/33 | 988 | ||||||
35 | 5.000%, 09/01/35 | 37 | ||||||
345 | 5.000%, 09/01/36 | 361 | ||||||
1,500 | 4.000%, 09/01/35 | 1,520 | ||||||
130 | 4.000%, 09/01/36 | 136 | ||||||
1,500 | 4.000%, 09/01/40 | 1,514 | ||||||
Hawaii County, Ser B, GO | ||||||||
125 | 4.000%, 09/01/26 | 127 | ||||||
Hawaii County, Ser C, GO | ||||||||
125 | 5.000%, 09/01/27 | 129 | ||||||
Hawaii County, Ser D, GO | ||||||||
800 | 4.000%, 09/01/31 | 822 | ||||||
Hawaii State, Airports System Authority, Ser A, RB, AMT | ||||||||
385 | 5.000%, 07/01/31 | 409 | ||||||
1,000 | 5.000%, 07/01/36 | 1,108 | ||||||
2,040 | 5.000%, 07/01/41 | 2,052 | ||||||
1,735 | 5.000%, 07/01/43 | 1,789 | ||||||
7,335 | 5.000%, 07/01/45 | 7,361 | ||||||
2,600 | 5.000%, 07/01/48 | 2,662 | ||||||
1,500 | 5.000%, 07/01/51 | 1,576 | ||||||
2,800 | 4.000%, 07/01/39 | 2,768 | ||||||
Hawaii State, Airports System Authority, Ser B, RB, AMT | ||||||||
1,000 | 5.000%, 07/01/24 | 1,001 | ||||||
Hawaii State, Airports System Authority, Ser D, RB | ||||||||
100 | 5.000%, 07/01/28 | 109 | ||||||
1,025 | 5.000%, 07/01/29 | 1,136 | ||||||
450 | 5.000%, 07/01/33 | 506 | ||||||
135 | 5.000%, 07/01/34 | 152 | ||||||
1,000 | 4.000%, 07/01/37 | 1,025 |
March 31, 2024 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 260 | 4.000%, 07/01/39 | $ | 264 | ||||
Hawaii State, Department of Budget & Finance, RB | ||||||||
500 | 5.000%, 07/01/25 | 509 | ||||||
1,040 | 5.000%, 07/01/27 | 1,097 | ||||||
2,700 | 5.000%, 07/01/28 | 2,896 | ||||||
2,460 | 5.000%, 07/01/29 | 2,681 | ||||||
500 | 5.000%, 07/01/31 | 558 | ||||||
1,650 | 5.000%, 07/01/34 | 1,908 | ||||||
5,000 | 5.000%, 07/01/35 | 5,091 | ||||||
275 | 4.000%, 01/01/25 | 274 | ||||||
140 | 4.000%, 01/01/26 | 139 | ||||||
665 | 4.000%, 01/01/27 | 660 | ||||||
350 | 4.000%, 01/01/28 | 348 | ||||||
250 | 4.000%, 01/01/31 | 248 | ||||||
270 | 4.000%, 01/01/32 | 267 | ||||||
1,200 | 4.000%, 07/01/43 | 1,175 | ||||||
2,170 | 3.200%, 07/01/39 | 1,430 | ||||||
435 | 3.000%, 01/01/34 | 386 | ||||||
600 | 3.000%, 01/01/35 | 528 | ||||||
585 | 3.000%, 01/01/36 | 506 | ||||||
Hawaii State, Department of Budget & Finance, Ser A, RB | ||||||||
75 | 5.000%, 07/01/29 | 76 | ||||||
515 | 5.000%, 07/01/30 | 525 | ||||||
185 | 5.000%, 07/01/35 | 188 | ||||||
1,805 | 4.000%, 07/01/40 | 1,764 | ||||||
Hawaii State, Department of Hawaiian Home Lands, Kapolie Office Facilities, Ser A, COP | ||||||||
150 | 5.000%, 11/01/24 | 151 | ||||||
530 | 5.000%, 11/01/26 | 555 | ||||||
Hawaii State, Department of Hawaiian Home Lands, Kapolie Office Facilities, Ser A, RB | ||||||||
15 | 5.000%, 11/01/25 | 15 | ||||||
680 | 5.000%, 11/01/29 | 725 | ||||||
500 | 5.000%, 11/01/30 | 533 | ||||||
350 | 5.000%, 11/01/31 | 372 | ||||||
Hawaii State, Department of Hawaiian Home Lands, RB | ||||||||
240 | 5.000%, 04/01/24 | 240 | ||||||
850 | 5.000%, 04/01/25 | 863 | ||||||
75 | 5.000%, 04/01/26 | 78 | ||||||
630 | 5.000%, 04/01/27 | 666 | ||||||
320 | 5.000%, 04/01/29 | 336 | ||||||
715 | 5.000%, 04/01/30 | 749 |
March 31, 2024 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 960 | 5.000%, 04/01/31 | $ | 1,003 | ||||
550 | 5.000%, 04/01/32 | 574 | ||||||
15 | 3.000%, 04/01/32 | 15 | ||||||
Hawaii State, Department of Transportation, Airports System, COP, AMT | ||||||||
510 | 5.250%, 08/01/25 | 510 | ||||||
1,055 | 5.000%, 08/01/27 | 1,055 | ||||||
2,075 | 5.000%, 08/01/28 | 2,076 | ||||||
Hawaii State, Department of Transportation, RB, AMT | ||||||||
1,420 | 5.250%, 08/01/24 | 1,420 | ||||||
2,570 | 5.250%, 08/01/26 | 2,571 | ||||||
Hawaii State, Harbor System Revenue, Ser A, RB, AMT | ||||||||
755 | 5.000%, 07/01/24 | 757 | ||||||
750 | 5.000%, 07/01/26 | 773 | ||||||
520 | 4.000%, 07/01/36 | 527 | ||||||
Hawaii State, Harbor System Revenue, Ser C, RB | ||||||||
1,260 | 4.000%, 07/01/32 | 1,334 | ||||||
1,000 | 4.000%, 07/01/37 | 1,026 | ||||||
85 | 4.000%, 07/01/38 | 86 | ||||||
2,160 | 4.000%, 07/01/39 | 2,186 | ||||||
3,405 | 4.000%, 07/01/40 | 3,436 | ||||||
Hawaii State, Highway Revenue, RB | ||||||||
1,140 | 5.000%, 01/01/37 | 1,282 | ||||||
30 | 5.000%, 01/01/38 | 33 | ||||||
380 | 5.000%, 01/01/40 | 419 | ||||||
1,265 | 5.000%, 01/01/41 | 1,389 | ||||||
Hawaii State, Highway Revenue, Ser A, RB | ||||||||
535 | 5.000%, 01/01/30 | 589 | ||||||
1,045 | 5.000%, 01/01/33 | 1,048 | ||||||
385 | 5.000%, 01/01/36 | 421 | ||||||
720 | 4.000%, 01/01/32 | 731 | ||||||
1,250 | 4.000%, 01/01/34 | 1,268 | ||||||
1,360 | 4.000%, 01/01/35 | 1,378 | ||||||
330 | 4.000%, 01/01/36 | 334 | ||||||
Hawaii State, Housing Finance & Development, Ser A, RB, FHLMC Insured | ||||||||
80 | 3.300%, 01/01/26 | 79 | ||||||
Hawaii State, Housing Finance & Development, Ser A, RB | ||||||||
3,000 | 4.950%, 04/01/29 | 3,062 | ||||||
2,005 | 4.750%, 10/01/27 | 2,029 | ||||||
4,460 | 4.000%, 09/01/33 | 4,463 | ||||||
4,035 | 3.750%, 01/01/31 | 4,036 |
March 31, 2024 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
Hawaii State, Ser EO, GO | ||||||||
$ | 610 | 5.000%, 08/01/24, Pre-Refunded @ 100 (A) | $ | 612 | ||||
2,605 | 5.000%, 08/01/30 | 2,617 | ||||||
Hawaii State, Ser EP, GO | ||||||||
65 | 5.000%, 08/01/24, Pre-Refunded @ 100 (A) | 65 | ||||||
Hawaii State, Ser ET, GO | ||||||||
735 | 5.000%, 10/01/25, Pre-Refunded @ 100 (A) | 754 | ||||||
1,000 | 4.000%, 10/01/26 | 1,009 | ||||||
Hawaii State, Ser FB, GO | ||||||||
50 | 4.000%, 04/01/29 | 51 | ||||||
Hawaii State, Ser FG, GO | ||||||||
150 | 5.000%, 10/01/27 | 157 | ||||||
125 | 5.000%, 10/01/28 | 130 | ||||||
710 | 5.000%, 10/01/30 | 741 | ||||||
375 | 5.000%, 10/01/31 | 391 | ||||||
Hawaii State, Ser FH, GO | ||||||||
120 | 5.000%, 10/01/27 | 125 | ||||||
270 | 4.000%, 10/01/31 | 275 | ||||||
Hawaii State, Ser FK, GO | ||||||||
2,025 | 5.000%, 05/01/29 | 2,140 | ||||||
1,100 | 4.000%, 05/01/36 | 1,119 | ||||||
Hawaii State, Ser FN-REF, GO | ||||||||
915 | 5.000%, 10/01/30 | 974 | ||||||
Hawaii State, Ser FT, GO | ||||||||
215 | 5.000%, 01/01/30 | 232 | ||||||
1,135 | 5.000%, 01/01/31 | 1,225 | ||||||
250 | 5.000%, 01/01/36 | 268 | ||||||
Hawaii State, Ser FW, GO | ||||||||
2,040 | 5.000%, 01/01/37 | 2,224 | ||||||
2,045 | 5.000%, 01/01/39 | 2,201 | ||||||
650 | 4.000%, 01/01/37 | 669 | ||||||
Honolulu Hawaii City & County, Board of Water Supply, RB | ||||||||
215 | 5.000%, 07/01/34 | 255 | ||||||
140 | 5.000%, 07/01/36 | 164 | ||||||
400 | 5.000%, 07/01/42 | 449 | ||||||
Honolulu Hawaii City & County, Board of Water Supply, Ser A, RB | ||||||||
100 | 5.000%, 07/01/24 | 100 | ||||||
410 | 5.000%, 07/01/24, Pre-Refunded @ 100 (A) | 411 | ||||||
100 | 5.000%, 07/01/27 | 107 | ||||||
900 | 5.000%, 07/01/28 | 981 | ||||||
1,470 | 5.000%, 07/01/29 | 1,636 |
March 31, 2024 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 100 | 5.000%, 07/01/30 | $ | 114 | ||||
400 | 5.000%, 07/01/34 | 467 | ||||||
600 | 5.000%, 07/01/43 | 676 | ||||||
400 | 4.000%, 07/01/36 | 415 | ||||||
1,000 | 4.000%, 07/01/38 | 1,024 | ||||||
1,000 | 4.000%, 07/01/40 | 1,017 | ||||||
1,000 | 4.000%, 07/01/44 | 1,002 | ||||||
2,075 | 4.000%, 07/01/46 | 2,043 | ||||||
Honolulu Hawaii City & County, GO | ||||||||
265 | 4.000%, 09/01/33 | 275 | ||||||
200 | 4.000%, 09/01/43 | 201 | ||||||
1,085 | 3.250%, 07/01/35 | 1,087 | ||||||
785 | 3.000%, 07/01/33 | 774 | ||||||
1,330 | 3.000%, 07/01/34 | 1,303 | ||||||
Honolulu Hawaii City & County, RB, HUD SECT 8 Insured | ||||||||
3,125 | 5.000%, 06/01/27 (B) | 3,206 | ||||||
Honolulu Hawaii City & County, Ser A, GO | ||||||||
555 | 5.000%, 10/01/29 | 568 | ||||||
800 | 5.000%, 10/01/31 | 818 | ||||||
1,010 | 5.000%, 09/01/32 | 1,070 | ||||||
1,440 | 5.000%, 10/01/32 | 1,472 | ||||||
1,275 | 5.000%, 09/01/33 | 1,351 | ||||||
580 | 5.000%, 09/01/35 | 613 | ||||||
275 | 5.000%, 10/01/36 | 280 | ||||||
2,970 | 5.000%, 10/01/37 | 3,017 | ||||||
1,185 | 5.000%, 09/01/38 | 1,267 | ||||||
1,100 | 5.000%, 09/01/42 | 1,165 | ||||||
1,000 | 4.000%, 07/01/33 | 1,064 | ||||||
785 | 4.000%, 07/01/34 | 833 | ||||||
1,200 | 4.000%, 09/01/37 | 1,221 | ||||||
1,035 | 4.000%, 07/01/41 | 1,047 | ||||||
Honolulu Hawaii City & County, Ser B, GO | ||||||||
85 | 5.250%, 07/01/45 | 95 | ||||||
650 | 5.000%, 07/01/37 | 739 | ||||||
Honolulu Hawaii City & County, Ser C, GO | ||||||||
835 | 5.000%, 08/01/34 | 927 | ||||||
1,000 | 5.000%, 07/01/38 | 1,099 | ||||||
2,400 | 5.000%, 08/01/44 | 2,561 | ||||||
620 | 5.000%, 07/01/45 | 666 | ||||||
1,000 | 4.000%, 10/01/32 | 1,019 | ||||||
2,135 | 4.000%, 10/01/33 | 2,173 | ||||||
1,355 | 4.000%, 08/01/39 | 1,379 |
March 31, 2024 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
$ | 585 | 4.000%, 07/01/40 | $ | 593 | ||||
170 | 3.000%, 10/01/28 | 169 | ||||||
Honolulu Hawaii City & County, Ser F, GO | ||||||||
625 | 5.000%, 07/01/33 | 705 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, RB | ||||||||
1,000 | 5.000%, 07/01/25, Pre-Refunded @ 100 (A) | 1,021 | ||||||
610 | 5.000%, 07/01/34 | 718 | ||||||
2,100 | 4.000%, 07/01/39 | 2,138 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser A, RB | ||||||||
385 | 5.000%, 07/01/31 | 400 | ||||||
500 | 5.000%, 07/01/34 | 580 | ||||||
1,545 | 5.000%, 07/01/36 | 1,597 | ||||||
90 | 5.000%, 07/01/47 | 98 | ||||||
2,750 | 5.000%, 07/01/49 | 2,917 | ||||||
1,965 | 4.000%, 07/01/37 | 2,015 | ||||||
3,000 | 4.000%, 07/01/38 | 3,046 | ||||||
920 | 4.000%, 07/01/39 | 934 | ||||||
1,000 | 4.000%, 07/01/44 | 996 | ||||||
2,990 | 4.000%, 07/01/49 | 2,892 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser B, RB | ||||||||
240 | 5.000%, 07/01/35 | 249 | ||||||
250 | 4.000%, 07/01/29 | 254 | ||||||
115 | 4.000%, 07/01/32 | 117 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser S, RB | ||||||||
795 | 5.000%, 07/01/25, Pre-Refunded @ 100 (A) | 812 | ||||||
Kauai County, Community Facilities District, RB | ||||||||
1,300 | 5.000%, 05/15/49 | 1,308 | ||||||
1,000 | 5.000%, 05/15/51 | 1,006 | ||||||
Kauai County, GO | ||||||||
175 | 5.000%, 08/01/26 | 183 | ||||||
175 | 5.000%, 08/01/27 | 187 | ||||||
140 | 5.000%, 08/01/28 | 150 | ||||||
25 | 5.000%, 08/01/30 | 27 | ||||||
340 | 5.000%, 08/01/37 | 357 | ||||||
225 | 4.000%, 08/01/32 | 232 | ||||||
125 | 4.000%, 08/01/33 | 129 | ||||||
10 | 3.000%, 08/01/38 | 9 |
March 31, 2024 | www.bishopstreetfunds.com |
(unaudited)
Face Amount (000) | Value (000) | |||||||
Hawaii — (continued) | ||||||||
Kauai County, Ser A, GO | ||||||||
$ | 20 | 5.000%, 08/01/24 | $ | 20 | ||||
Maui County, GO | ||||||||
500 | 5.000%, 03/01/29 | 552 | ||||||
205 | 5.000%, 09/01/29 | 224 | ||||||
1,550 | 5.000%, 03/01/34 | 1,769 | ||||||
400 | 5.000%, 03/01/38 | 449 | ||||||
500 | 4.000%, 03/01/36 | 527 | ||||||
675 | 4.000%, 03/01/37 | 703 | ||||||
65 | 3.125%, 06/01/31 | 64 | ||||||
500 | 3.000%, 06/01/27 | 497 | ||||||
400 | 3.000%, 03/01/31 | 396 | ||||||
150 | 3.000%, 09/01/33 | 147 | ||||||
2,000 | 2.125%, 06/01/24 | 1,991 | ||||||
Maui County, RB | ||||||||
1,020 | 3.250%, 09/01/36 | 995 | ||||||
University of Hawaii, RB | ||||||||
2,000 | 5.000%, 10/01/29 | 2,084 | ||||||
1,200 | 5.000%, 10/01/30 | 1,249 | ||||||
1,600 | 5.000%, 10/01/31 | 1,661 | ||||||
University of Hawaii, Ser B, RB | ||||||||
1,510 | 5.000%, 10/01/34 | 1,543 | ||||||
1,030 | 3.000%, 10/01/28 | 1,016 | ||||||
University of Hawaii, Ser D, RB | ||||||||
700 | 4.000%, 10/01/32 | 737 | ||||||
325 | 4.000%, 10/01/33 | 342 | ||||||
100 | 3.000%, 10/01/30 | 98 | ||||||
750 | 3.000%, 10/01/36 | 700 | ||||||
University of Hawaii, Ser E, RB | ||||||||
1,450 | 5.000%, 10/01/32 | 1,506 | ||||||
University of Hawaii, Ser F, RB | ||||||||
600 | 5.000%, 10/01/33 | 643 | ||||||
2,425 | 5.000%, 10/01/35 | 2,592 | ||||||
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214,883 | ||||||||
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Oklahoma — 0.0% | ||||||||
Oklahoma State, Development Finance Authority, RB | ||||||||
19 | 5.000%, 06/01/44 | 19 | ||||||
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March 31, 2024 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund
Face Amount (000) | Value (000) | |||||||
Wisconsin — 0.1% | ||||||||
Public Finance Authority, Ser A, RB | ||||||||
$ | 250 | 5.000%, 07/01/28 (C) | $ | 261 | ||||
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| ||||||
TOTAL MUNICIPAL BONDS (Cost $223,010) | 215,163 | |||||||
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Shares | ||||||||
CASH EQUIVALENT — 1.5% | ||||||||
First American Treasury Obligations Fund, Cl X, 5.220% (D) | ||||||||
3,174,510 | (Cost $3,175) | 3,175 | ||||||
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| ||||||
TOTAL INVESTMENTS (Cost $226,185) — 99.9% | $ | 218,338 | ||||||
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Percentages are based on Net Assets of $218,575 (000).
(A) | Pre-Refunded Security—The maturity date shown is the pre-refunded date. |
(B) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
(C) | 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 institutions. At March 31, 2024, these securities amounted to $261($ Thousands), representing 0.12% of net assets of the Fund. |
(D) | The rate reported is the 7-day effective yield as of March 31, 2024. |
AMT—Alternative Minimum Tax
Cl—Class
COP—Certificate of Participation
FHLMC—Federal Home Loan Mortgage Corporation
GO—General Obligation
HUD SECT 8—Department of Housing and Urban Development Section 8
RB—Revenue Bond
Ser—Series
Cost figures are shown in thousands.
BSF-QH-001-4200
March 31, 2024 | www.bishopstreetfunds.com |