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 811-03320
Fidelity Colchester Street Trust
(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: | March 31 |
Date of reporting period: | March 31, 2024 |
Item 1.
Reports to Stockholders
Contents
Current 7-Day Yields
|
||
Class I
|
5.20%
|
|
Class II
|
5.05%
|
|
Class III
|
4.95%
|
|
Class IV
|
4.70%
|
|
Select Class
|
5.15%
|
|
Institutional Class
|
5.24%
|
|
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. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending March 31, 2024, the most recent period shown in the table, would have been 5.17% for Class I, 5.02% for Class II, 4.92% for Class III, 4.67% for Class IV, 5.12% for Select Class, and 5.20% for Institutional Class.
|
Effective Maturity Diversification (% of Fund's Investments)
|
||
Days
|
||
1 - 7
|
13.3
|
|
8 - 30
|
32.5
|
|
31 - 60
|
30.1
|
|
61 - 90
|
9.2
|
|
91 - 180
|
14.9
|
|
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)
|
Net Other Assets (Liabilities) - (3.9)%
|
U.S. Treasury Debt - 103.9%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
U.S. Treasury Inflation Protected Obligations - 1.7%
|
||||
U.S. Treasury Notes
|
||||
4/15/24
|
5.35 to 5.37
|
1,202,998
|
1,203,910
|
|
U.S. Treasury Obligations - 102.2%
|
||||
U.S. Treasury Bills
|
||||
4/2/24 to 9/26/24
|
5.10 to 5.41
|
70,495,098
|
69,992,923
|
|
U.S. Treasury Notes
|
||||
4/30/24 to 1/31/26 (c)
|
5.23 to 5.55
|
4,501,104
|
4,500,914
|
|
TOTAL U.S. TREASURY OBLIGATIONS
|
74,493,837
|
|||
TOTAL U.S. TREASURY DEBT
(Cost $75,697,747)
|
75,697,747
|
|||
TOTAL INVESTMENT IN SECURITIES - 103.9%
(Cost $75,697,747)
|
75,697,747
|
NET OTHER ASSETS (LIABILITIES) - (3.9)%
|
(2,840,157)
|
NET ASSETS - 100.0%
|
72,857,590
|
(a)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(b)
|
Amount is stated in United States dollars unless otherwise noted.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
Statement of Assets and Liabilities
|
||||
Amounts in thousands (except per-share amounts)
|
March 31, 2024
|
|||
Assets
|
||||
Investment in securities, at value - See accompanying schedule
Unaffiliated issuers (cost $75,697,747):
|
$
|
75,697,747
|
||
Cash
|
94,935
|
|||
Receivable for investments sold
|
496,396
|
|||
Receivable for fund shares sold
|
226,276
|
|||
Interest receivable
|
43,703
|
|||
Prepaid expenses
|
21
|
|||
Receivable from investment adviser for expense reductions
|
2,110
|
|||
Other receivables
|
683
|
|||
Total assets
|
76,561,871
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
3,603,233
|
||
Payable for fund shares redeemed
|
76,623
|
|||
Distributions payable
|
8,211
|
|||
Accrued management fee
|
8,297
|
|||
Distribution and service plan fees payable
|
1,595
|
|||
Other affiliated payables
|
2,638
|
|||
Other payables and accrued expenses
|
3,684
|
|||
Total liabilities
|
3,704,281
|
|||
Net Assets
|
$
|
72,857,590
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
72,857,651
|
||
Total accumulated earnings (loss)
|
(61)
|
|||
Net Assets
|
$
|
72,857,590
|
||
Net Asset Value and Maximum Offering Price
|
||||
Class I :
|
||||
Net Asset Value, offering price and redemption price per share ($18,071,175 ÷ 18,068,784 shares)
|
$
|
1.00
|
||
Class II :
|
||||
Net Asset Value, offering price and redemption price per share ($2,725,724 ÷ 2,726,075 shares)
|
$
|
1.00
|
||
Class III :
|
||||
Net Asset Value, offering price and redemption price per share ($2,927,914 ÷ 2,927,410 shares)
|
$
|
1.00
|
||
Class IV :
|
||||
Net Asset Value, offering price and redemption price per share ($1,377,906 ÷ 1,377,819 shares)
|
$
|
1.00
|
||
Select Class :
|
||||
Net Asset Value, offering price and redemption price per share ($1,961,585 ÷ 1,961,697 shares)
|
$
|
1.00
|
||
Institutional Class :
|
||||
Net Asset Value, offering price and redemption price per share ($45,793,286 ÷ 45,793,708 shares)
|
$
|
1.00
|
Statement of Operations
|
||||
Amounts in thousands
|
Year ended
March 31, 2024
|
|||
Investment Income
|
||||
Interest
|
$
|
2,937,899
|
||
Expenses
|
||||
Management fee
|
$
|
78,850
|
||
Transfer agent fees
|
23,577
|
|||
Distribution and service plan fees
|
15,450
|
|||
Accounting fees and expenses
|
2,029
|
|||
Custodian fees and expenses
|
483
|
|||
Independent trustees' fees and expenses
|
170
|
|||
Registration fees
|
3,624
|
|||
Audit
|
46
|
|||
Legal
|
31
|
|||
Miscellaneous
|
225
|
|||
Total expenses before reductions
|
124,485
|
|||
Expense reductions
|
(21,244)
|
|||
Total expenses after reductions
|
103,241
|
|||
Net Investment income (loss)
|
2,834,658
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
1,179
|
|||
Total net realized gain (loss)
|
1,179
|
|||
Net increase in net assets resulting from operations
|
$
|
2,835,837
|
Statement of Changes in Net Assets
|
||||
Amount in thousands
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
2,834,658
|
$
|
904,561
|
Net realized gain (loss)
|
1,179
|
52
|
||
Net increase in net assets resulting from operations
|
2,835,837
|
904,613
|
||
Distributions to shareholders
|
(2,834,993)
|
(904,209)
|
||
Share transactions - net increase (decrease)
|
21,241,300
|
17,734,453
|
||
Total increase (decrease) in net assets
|
21,242,144
|
17,734,857
|
||
Net Assets
|
||||
Beginning of period
|
51,615,446
|
33,880,589
|
||
End of period
|
$
|
72,857,590
|
$
|
51,615,446
|
Treasury Only Portfolio Class I |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.050
|
.025
|
- B
|
- B
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.050
|
.025
|
- B
|
- B
|
.018
|
|||||
Distributions from net investment income
|
(.050)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.050)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.14 % |
2.50%
|
.02%
|
.04%
|
1.80%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.21%
|
.21%
|
.21%
|
.21%
|
.22%
|
|||||
Expenses net of fee waivers, if any
|
.18 % |
.18%
|
.08%
|
.15%
|
.18%
|
|||||
Expenses net of all reductions
|
.18%
|
.18%
|
.08%
|
.15%
|
.18%
|
|||||
Net investment income (loss)
|
5.04%
|
2.53%
|
.02%
|
.05%
|
1.72%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
18,071
|
$
|
14,612
|
$
|
12,146
|
$
|
10,871
|
$
|
15,058
|
Treasury Only Portfolio Class II |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.049
|
.023
|
- B
|
- B
|
.016
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.049
|
.023
|
- B
|
- B
|
.016
|
|||||
Distributions from net investment income
|
(.049)
|
(.023)
|
- B
|
- B
|
(.016)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.049)
|
(.023)
|
- B
|
- B
|
(.016)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
4.98 % |
2.34%
|
.01%
|
.02%
|
1.65%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.36%
|
.36%
|
.36%
|
.36%
|
.37%
|
|||||
Expenses net of fee waivers, if any
|
.33 % |
.33%
|
.09%
|
.16%
|
.33%
|
|||||
Expenses net of all reductions
|
.33%
|
.33%
|
.09%
|
.16%
|
.33%
|
|||||
Net investment income (loss)
|
4.89%
|
2.38%
|
.01%
|
.03%
|
1.57%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
2,726
|
$
|
2,196
|
$
|
1,126
|
$
|
943
|
$
|
830
|
Treasury Only Portfolio Class III |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.048
|
.022
|
- B
|
- B
|
.015
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.048
|
.022
|
- B
|
- B
|
.015
|
|||||
Distributions from net investment income
|
(.048)
|
(.022)
|
- B
|
- B
|
(.015)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.048)
|
(.022)
|
- B
|
- B
|
(.015)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
4.87 % |
2.25%
|
.01%
|
.01%
|
1.54%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.46%
|
.46%
|
.46%
|
.46%
|
.47%
|
|||||
Expenses net of fee waivers, if any
|
.43 % |
.43%
|
.08%
|
.17%
|
.43%
|
|||||
Expenses net of all reductions
|
.43%
|
.43%
|
.08%
|
.17%
|
.43%
|
|||||
Net investment income (loss)
|
4.79%
|
2.28%
|
.02%
|
.02%
|
1.47%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
2,928
|
$
|
2,484
|
$
|
1,155
|
$
|
1,349
|
$
|
824
|
Treasury Only Portfolio Class IV |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.045
|
.020
|
- B
|
- B
|
.013
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.045
|
.020
|
- B
|
- B
|
.013
|
|||||
Distributions from net investment income
|
(.045)
|
(.020)
|
- B
|
- B
|
(.013)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.045)
|
(.020)
|
- B
|
- B
|
(.013)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
4.61 % |
2.02%
|
.01%
|
.01%
|
1.29%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.71%
|
.71%
|
.71%
|
.71%
|
.72%
|
|||||
Expenses net of fee waivers, if any
|
.68 % |
.66%
|
.08%
|
.17%
|
.68%
|
|||||
Expenses net of all reductions
|
.68%
|
.66%
|
.08%
|
.17%
|
.68%
|
|||||
Net investment income (loss)
|
4.54%
|
2.05%
|
.01%
|
.02%
|
1.22%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
1,378
|
$
|
795
|
$
|
196
|
$
|
334
|
$
|
109
|
Treasury Only Portfolio Select Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.050
|
.024
|
- B
|
- B
|
.017
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.050
|
.024
|
- B
|
- B
|
.017
|
|||||
Distributions from net investment income
|
(.050)
|
(.024)
|
- B
|
- B
|
(.017)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.050)
|
(.024)
|
- B
|
- B
|
(.017)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.08 % |
2.45%
|
.01%
|
.03%
|
1.75%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.26%
|
.26%
|
.26%
|
.26%
|
.27%
|
|||||
Expenses net of fee waivers, if any
|
.23 % |
.23%
|
.08%
|
.16%
|
.23%
|
|||||
Expenses net of all reductions
|
.23%
|
.23%
|
.08%
|
.16%
|
.23%
|
|||||
Net investment income (loss)
|
4.99%
|
2.49%
|
.01%
|
.03%
|
1.67%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
1,962
|
$
|
1,271
|
$
|
325
|
$
|
264
|
$
|
399
|
Treasury Only Portfolio Institutional Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.051
|
.025
|
- B
|
.001
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.051
|
.025
|
- B
|
.001
|
.018
|
|||||
Distributions from net investment income
|
(.051)
|
(.025)
|
- B
|
(.001)
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.051)
|
(.025)
|
- B
|
(.001)
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.18 % |
2.54%
|
.02%
|
.06%
|
1.84%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.18%
|
.18%
|
.18%
|
.18%
|
.19%
|
|||||
Expenses net of fee waivers, if any
|
.14 % |
.14%
|
.07%
|
.13%
|
.14%
|
|||||
Expenses net of all reductions
|
.14%
|
.14%
|
.07%
|
.13%
|
.14%
|
|||||
Net investment income (loss)
|
5.08%
|
2.57%
|
.02%
|
.06%
|
1.76%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
45,793
|
$
|
30,257
|
$
|
18,932
|
$
|
19,120
|
$
|
26,551
|
Current 7-Day Yields
|
||
Class I
|
5.19%
|
|
Class II
|
5.04%
|
|
Class III
|
4.94%
|
|
Class IV
|
4.70%
|
|
Select Class
|
5.14%
|
|
Institutional Class
|
5.23%
|
|
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. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending March 31, 2024, the most recent period shown in the table, would have been 5.17% for Class I, 5.02% for Class II, 4.92% for Class III, 4.68% for Class IV, 5.12% for Select Class, and 5.20% for Institutional Class.
|
Effective Maturity Diversification (% of Fund's Investments)
|
||
Days
|
||
1 - 7
|
55.3
|
|
8 - 30
|
11.4
|
|
31 - 60
|
12.9
|
|
61 - 90
|
4.6
|
|
91 - 180
|
10.8
|
|
> 180
|
5.0
|
|
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)
|
Net Other Assets (Liabilities) - (2.5)%
|
U.S. Treasury Debt - 54.8%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
U.S. Treasury Obligations - 54.8%
|
||||
U.S. Treasury Bills
|
||||
4/2/24 to 12/26/24
|
4.94 to 5.51
|
24,953,695
|
24,729,695
|
|
U.S. Treasury Notes
|
||||
4/30/24 to 1/31/26 (c)
|
4.80 to 5.55
|
8,863,969
|
8,805,902
|
|
TOTAL U.S. TREASURY DEBT
(Cost $33,535,597)
|
33,535,597
|
|||
U.S. Treasury Repurchase Agreement - 47.7%
|
|||
Maturity
Amount ($)
(000s)
|
Value ($)
(000s)
|
||
In a joint trading account at:
|
|||
5.32% dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations) #
|
585,386
|
585,040
|
|
5.33% dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations) #
|
452,186
|
451,918
|
|
With:
|
|||
ABN AMRO Bank NV at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $86,751,356, 0.38% - 1.88%, 4/30/27 - 2/15/41)
|
85,050
|
85,000
|
|
Barclays Bank PLC at:
|
|||
5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $174,445,842, 2.00% - 2.38%, 4/30/26 - 11/15/26)
|
171,101
|
171,000
|
|
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $208,326,523, 2.00% - 3.88%, 3/31/25 - 11/15/26)
|
205,269
|
204,000
|
|
BMO Capital Markets Corp. at 5.32%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $29,687,002, 0.00% - 4.50%, 9/5/24 - 2/15/54)
|
29,030
|
29,000
|
|
BMO Harris Bank NA at:
|
|||
5.31%, dated 3/25/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $28,589,585, 0.00% - 4.25%, 8/8/24 - 3/15/27)
|
28,029
|
28,000
|
|
5.32%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $29,597,519, 0.00% - 4.25%, 8/8/24 - 3/15/27)
|
29,030
|
29,000
|
|
BNP Paribas, SA at:
|
|||
5.36%, dated:
|
|||
2/29/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $298,253,597, 0.88% - 5.47%, 7/31/24 - 2/15/54) (c)(d)(e)
|
295,593
|
291,000
|
|
3/1/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $237,846,169, 0.88% - 5.50%, 7/31/24 - 2/15/54) (c)(d)(e)
|
234,852
|
231,000
|
|
3/8/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $92,127,432, 0.88% - 5.50%, 7/31/24 - 5/15/53) (c)(d)(e)
|
91,447
|
90,000
|
|
3/11/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $427,304,107, 0.88% - 5.50%, 10/31/24 - 2/15/54) (c)(d)(e)
|
422,565
|
416,000
|
|
5.37%, dated:
|
|||
2/14/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $465,047,396, 0.50% - 5.47%, 7/31/24 - 2/15/54) (c)(d)(e)
|
460,158
|
452,000
|
|
2/16/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $115,033,651, 0.50% - 5.47%, 7/31/24 - 2/15/54) (c)(d)(e)
|
114,038
|
112,000
|
|
2/20/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $114,936,598, 0.88% - 5.50%, 7/31/24 - 11/15/43) (c)(d)(e)
|
114,088
|
112,000
|
|
BofA Securities, Inc. at:
|
|||
5.33%, dated 2/5/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $27,768,377, 0.38% - 4.38%, 12/31/25 - 8/15/43)
|
27,364
|
27,000
|
|
5.34%, dated 2/29/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $28,695,632, 0.38% - 3.38%, 12/31/25 - 8/15/42)
|
28,374
|
28,000
|
|
5.35%, dated 1/25/24 due 4/25/24 (Collateralized by U.S. Treasury Obligations valued at $37,085,699, 0.38% - 1.38%, 12/31/25 - 11/15/40) (c)(d)(e)
|
36,487
|
36,000
|
|
5.37%, dated 1/2/24 due 4/2/24 (Collateralized by U.S. Treasury Obligations valued at $322,500,340, 0.38% - 4.00%, 12/31/25 - 2/15/43) (c)(d)(e)
|
316,235
|
312,000
|
|
CIBC Bank U.S.A. at 5.32%, dated:
|
|||
3/6/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $22,516,619, 0.38% - 4.75%, 2/28/25 - 2/15/54)
|
22,098
|
22,000
|
|
3/21/24 due 4/4/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $38,805,916, 0.38% - 4.50%, 7/31/24 - 2/15/54)
|
38,140
|
38,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $59,230,117, 0.38% - 4.25%, 2/28/25 - 2/15/54)
|
58,120
|
58,000
|
|
3/27/24 due 4/4/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $38,771,612, 0.38% - 4.25%, 1/31/26 - 2/15/54)
|
38,185
|
38,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $20,406,164, 0.38% - 4.25%, 2/28/26 - 2/15/54)
|
20,106
|
20,000
|
|
Credit AG at 5.32%, dated 3/25/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $43,885,988, 0.38%, 1/31/26)
|
43,197
|
43,000
|
|
Federal Reserve Bank of New York at 5.3%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $16,281,582,445, 1.13% - 4.38%, 1/31/27 - 2/15/42)
|
16,281,582
|
16,272,000
|
|
FICC ACAFB Repo Program at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $177,094,083, 4.00% - 4.38%, 11/30/28 - 11/15/52)
|
171,101
|
171,000
|
|
Ficc Citi Gc Repo (GOV REPO) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $58,148,682, 0.00% - 6.75%, 4/25/24 - 2/15/50)
|
57,034
|
57,000
|
|
Ficc Nomura Gc Repo (GOV REPO) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $349,911,867, 1.25%, 12/31/26)
|
343,203
|
343,000
|
|
Fixed Income Clearing Corp. - BNP at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $378,644,772, 0.88% - 5.50%, 4/30/24 - 8/15/53)
|
371,220
|
371,000
|
|
Fixed Income Clearing Corp. - BNYM at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $2,120,580,086, 0.00% - 4.38%, 6/27/24 - 12/15/26)
|
2,080,229
|
2,079,000
|
|
Fixed Income Clearing Corp. - SSB at:
|
|||
5.31%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $174,450,639, 0.50%, 4/30/27)
|
171,101
|
171,000
|
|
5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $1,456,731,942, 0.63% - 4.00%, 2/28/30 - 5/15/30)
|
1,428,844
|
1,428,000
|
|
5.35%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $118,347,214, 1.63%, 5/15/31)
|
116,069
|
116,000
|
|
Fixed Income Clearing Corp.- Morgan Stanley & CO LLC at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $87,752,484, 2.75%, 5/31/29)
|
86,051
|
86,000
|
|
Goldman Sachs & Co. at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $100,019,095, 0.00% - 6.88%, 4/16/24 - 1/31/29)
|
98,058
|
98,000
|
|
HSBC Securities, Inc. at 5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $140,801,819, 0.75% - 5.47%, 10/31/25 - 8/31/26)
|
138,143
|
138,000
|
|
ING Financial Markets LLC at:
|
|||
5.33%, dated:
|
|||
3/26/24 due 4/2/24 (Collateralized by U.S. Treasury Obligations valued at $11,225,079, 0.00% - 4.00%, 9/5/24 - 8/15/49)
|
11,011
|
11,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $6,121,656, 0.00% - 3.88%, 5/30/24 - 2/15/48)
|
6,006
|
6,000
|
|
5.34%, dated 3/21/24 due:
|
|||
5/1/24 (Collateralized by U.S. Treasury Obligations valued at $583,321,986, 0.00% - 4.75%, 4/4/24 - 11/15/53)
|
574,473
|
571,000
|
|
5/2/24 (Collateralized by U.S. Treasury Obligations valued at $583,112,651, 0.00% - 4.75%, 4/15/24 - 11/15/53)
|
574,557
|
571,000
|
|
Lloyds Bank Corp. Markets PLC at 5.35%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $120,538,547, 3.50% - 3.88%, 12/31/27 - 1/31/30)
|
118,123
|
118,000
|
|
Lloyds Bank PLC at:
|
|||
5.39%, dated:
|
|||
2/20/24 due 5/20/24 (Collateralized by U.S. Treasury Obligations valued at $26,689,181, 0.50% - 2.25%, 2/15/27 - 8/31/27)
|
26,350
|
26,000
|
|
2/26/24 due 5/28/24 (Collateralized by U.S. Treasury Obligations valued at $37,978,290, 4.13%, 7/31/28)
|
37,510
|
37,000
|
|
3/20/24 due 6/20/24 (Collateralized by U.S. Treasury Obligations valued at $49,012,307, 2.25% - 2.50%, 1/31/25 - 2/15/27)
|
48,661
|
48,000
|
|
5.4%, dated 2/29/24 due 5/31/24 (Collateralized by U.S. Treasury Obligations valued at $26,649,130, 2.25%, 8/15/27)
|
26,359
|
26,000
|
|
Mitsubishi UFJ Securities (U.S.A.), Inc. at 5.34%, dated 3/21/24 due 6/13/24 (Collateralized by U.S. Treasury Obligations valued at $72,505,947, 1.88% - 4.88%, 10/31/30 - 2/15/32)
|
71,885
|
71,000
|
|
Mizuho Bank, Ltd. at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $146,211,909, 1.63%, 5/15/31)
|
143,085
|
143,000
|
|
MUFG Securities (Canada), Ltd. at:
|
|||
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $28,594,235, 0.00% - 6.50%, 9/19/24 - 5/15/53)
|
28,174
|
28,000
|
|
5.34%, dated 3/21/24 due 6/13/24 (Collateralized by U.S. Treasury Obligations valued at $55,145,670, 0.25% - 6.50%, 1/31/25 - 2/15/54)
|
54,673
|
54,000
|
|
MUFG Securities EMEA PLC at:
|
|||
5.32%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $89,022,387, 3.75% - 5.00%, 10/31/25 - 11/15/43)
|
87,180
|
87,000
|
|
5.33%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $118,521,997, 1.25% - 4.00%, 2/29/28 - 3/31/28)
|
116,120
|
116,000
|
|
5.34%, dated 3/28/24 due:
|
|||
4/1/24 (Collateralized by U.S. Treasury Obligations valued at $72,486,854, 3.13%, 2/15/43)
|
71,042
|
71,000
|
|
4/4/24 (Collateralized by U.S. Treasury Obligations valued at $59,194,565, 0.75% - 2.88%, 3/31/26 - 5/15/28)
|
58,060
|
58,000
|
|
Natixis SA at 5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $118,539,349, 0.25% - 4.50%, 7/31/24 - 11/15/46)
|
116,670
|
116,000
|
|
NatWest Markets Securities, Inc. at:
|
|||
5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $28,655,442, 1.38% - 7.63%, 11/15/24 - 11/15/53)
|
28,017
|
28,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $144,948,054, 0.25% - 4.25%, 4/30/24 - 5/15/51)
|
142,147
|
142,000
|
|
Norinchukin Bank at 5.35%, dated 3/26/24 due 4/2/24 (Collateralized by U.S. Treasury Obligations valued at $56,116,683, 3.38%, 5/15/33)
|
55,057
|
55,000
|
|
Prudential Insurance Co. of America at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $91,425,830, 1.25% - 6.63%, 2/15/27 - 2/15/36)
|
89,683
|
89,630
|
|
RBC Dominion Securities at:
|
|||
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $229,987,789, 0.25% - 6.00%, 7/15/24 - 11/15/53)
|
226,399
|
225,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $59,203,923, 1.88% - 6.00%, 2/15/26 - 2/15/44)
|
58,060
|
58,000
|
|
SMBC Nikko Securities America, Inc. at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $765,117,777, 0.00% - 7.63%, 4/9/24 - 8/15/52)
|
750,443
|
750,000
|
|
Societe Generale at 5.33%, dated:
|
|||
3/26/24 due 4/2/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $75,513,577, 1.38% - 1.75%, 11/15/40 - 8/15/41)
|
74,077
|
74,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $119,533,115, 2.25% - 3.88%, 4/30/25 - 8/15/49)
|
116,120
|
116,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $117,108,368, 1.25% - 3.88%, 4/30/25 - 11/15/50)
|
114,118
|
114,000
|
|
Sumitomo Mitsui Trust Bank Ltd. at 5.4%, dated 3/27/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $13,371,132, 1.63% - 4.38%, 8/31/28 - 8/15/29)
|
13,027
|
13,000
|
|
TD Securities (U.S.A.) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $108,136,085, 0.25% - 4.50%, 4/30/24 - 11/15/33)
|
106,063
|
106,000
|
|
TOTAL U.S. TREASURY REPURCHASE AGREEMENT
(Cost $29,167,588)
|
29,167,588
|
||
TOTAL INVESTMENT IN SECURITIES - 102.5%
(Cost $62,703,185)
|
62,703,185
|
NET OTHER ASSETS (LIABILITIES) - (2.5)%
|
(1,503,151)
|
NET ASSETS - 100.0%
|
61,200,034
|
(a)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(b)
|
Amount is stated in United States dollars unless otherwise noted.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(d)
|
The maturity amount is based on the rate at period end.
|
(e)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
Other Information
|
||
# Additional information on each counterparty to the repurchase agreement is as follows:
|
||
Repurchase Agreement / Counterparty
|
Value ($)
(000's)
|
|
$585,040,000 due 4/01/24 at 5.32%
|
||
BofA Securities, Inc.
|
1,812
|
|
Credit Agricole CIB New York Branch
|
11,536
|
|
ING Financial Markets LLC
|
8,185
|
|
JP Morgan Securities LLC
|
21,848
|
|
Nomura Securities International
|
10,694
|
|
RBC Dominion Securities, Inc.
|
530,965
|
|
585,040
|
||
$451,918,000 due 4/01/24 at 5.33%
|
||
Bank of Nova Scotia
|
67,222
|
|
Citigroup Global Markets, Inc.
|
159,879
|
|
Credit Agricole CIB New York Branch
|
56,758
|
|
HSBC Securities (USA), Inc.
|
168,059
|
|
451,918
|
Statement of Assets and Liabilities
|
||||
Amounts in thousands (except per-share amounts)
|
March 31, 2024
|
|||
Assets
|
||||
Investment in securities, at value (including repurchase agreements of $29,167,588) - See accompanying schedule
Unaffiliated issuers (cost $62,703,185):
|
$
|
62,703,185
|
||
Cash
|
194,677
|
|||
Receivable for fund shares sold
|
86,074
|
|||
Interest receivable
|
104,159
|
|||
Prepaid expenses
|
25
|
|||
Receivable from investment adviser for expense reductions
|
1,642
|
|||
Other receivables
|
467
|
|||
Total assets
|
63,090,229
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
1,775,627
|
||
Payable for fund shares redeemed
|
84,977
|
|||
Distributions payable
|
16,115
|
|||
Accrued management fee
|
7,476
|
|||
Distribution and service plan fees payable
|
1,313
|
|||
Other affiliated payables
|
2,519
|
|||
Other payables and accrued expenses
|
2,168
|
|||
Total liabilities
|
1,890,195
|
|||
Net Assets
|
$
|
61,200,034
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
61,200,144
|
||
Total accumulated earnings (loss)
|
(110)
|
|||
Net Assets
|
$
|
61,200,034
|
||
Net Asset Value and Maximum Offering Price
|
||||
Class I :
|
||||
Net Asset Value, offering price and redemption price per share ($22,862,069 ÷ 22,855,536 shares)
|
$
|
1.00
|
||
Class II :
|
||||
Net Asset Value, offering price and redemption price per share ($764,718 ÷ 764,250 shares)
|
$
|
1.00
|
||
Class III :
|
||||
Net Asset Value, offering price and redemption price per share ($3,988,907 ÷ 3,988,796 shares)
|
$
|
1.00
|
||
Class IV :
|
||||
Net Asset Value, offering price and redemption price per share ($870,579 ÷ 870,376 shares)
|
$
|
1.00
|
||
Select Class :
|
||||
Net Asset Value, offering price and redemption price per share ($258,761 ÷ 258,715 shares)
|
$
|
1.00
|
||
Institutional Class :
|
||||
Net Asset Value, offering price and redemption price per share ($32,455,000 ÷ 32,457,891 shares)
|
$
|
1.00
|
Statement of Operations
|
||||
Amounts in thousands
|
Year ended
March 31, 2024
|
|||
Investment Income
|
||||
Interest
|
$
|
3,110,866
|
||
Expenses
|
||||
Management fee
|
$
|
82,062
|
||
Transfer agent fees
|
25,884
|
|||
Distribution and service plan fees
|
15,105
|
|||
Accounting fees and expenses
|
2,073
|
|||
Custodian fees and expenses
|
191
|
|||
Independent trustees' fees and expenses
|
184
|
|||
Registration fees
|
2,526
|
|||
Audit
|
53
|
|||
Legal
|
35
|
|||
Miscellaneous
|
187
|
|||
Total expenses before reductions
|
128,300
|
|||
Expense reductions
|
(19,911)
|
|||
Total expenses after reductions
|
108,389
|
|||
Net Investment income (loss)
|
3,002,477
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
112
|
|||
Total net realized gain (loss)
|
112
|
|||
Net increase in net assets resulting from operations
|
$
|
3,002,589
|
Statement of Changes in Net Assets
|
||||
Amount in thousands
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
3,002,477
|
$
|
1,015,281
|
Net realized gain (loss)
|
112
|
(66)
|
||
Net increase in net assets resulting from operations
|
3,002,589
|
1,015,215
|
||
Distributions to shareholders
|
(3,002,772)
|
(1,014,763)
|
||
Share transactions - net increase (decrease)
|
1,689,179
|
35,490,794
|
||
Total increase (decrease) in net assets
|
1,688,996
|
35,491,246
|
||
Net Assets
|
||||
Beginning of period
|
59,511,038
|
24,019,792
|
||
End of period
|
$
|
61,200,034
|
$
|
59,511,038
|
Treasury Portfolio Class I |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.051
|
.026
|
- B
|
- B
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.051
|
.026
|
- B
|
- B
|
.018
|
|||||
Distributions from net investment income
|
(.051)
|
(.026)
|
- B
|
- B
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.051)
|
(.026)
|
- B
|
- B
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.25 % |
2.62%
|
.02%
|
.05%
|
1.82%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.21%
|
.21%
|
.21%
|
.21%
|
.21%
|
|||||
Expenses net of fee waivers, if any
|
.18 % |
.18%
|
.08%
|
.15%
|
.18%
|
|||||
Expenses net of all reductions
|
.18%
|
.18%
|
.08%
|
.15%
|
.18%
|
|||||
Net investment income (loss)
|
5.13%
|
2.96%
|
.01%
|
.06%
|
1.77%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
22,862
|
$
|
22,834
|
$
|
9,402
|
$
|
10,411
|
$
|
12,043
|
Treasury Portfolio Class II |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.050
|
.024
|
- B
|
- B
|
.017
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.050
|
.024
|
- B
|
- B
|
.017
|
|||||
Distributions from net investment income
|
(.050)
|
(.024)
|
- B
|
- B
|
(.017)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.050)
|
(.024)
|
- B
|
- B
|
(.017)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.09 % |
2.46%
|
.01%
|
.01%
|
1.67%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.36%
|
.36%
|
.36%
|
.36%
|
.36%
|
|||||
Expenses net of fee waivers, if any
|
.33 % |
.33%
|
.08%
|
.19%
|
.33%
|
|||||
Expenses net of all reductions
|
.33%
|
.33%
|
.08%
|
.19%
|
.33%
|
|||||
Net investment income (loss)
|
4.98%
|
2.81%
|
.01%
|
.02%
|
1.62%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
765
|
$
|
513
|
$
|
411
|
$
|
648
|
$
|
884
|
Treasury Portfolio Class III |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.049
|
.023
|
- B
|
- B
|
.016
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.049
|
.023
|
- B
|
- B
|
.016
|
|||||
Distributions from net investment income
|
(.049)
|
(.023)
|
- B
|
- B
|
(.016)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.049)
|
(.023)
|
- B
|
- B
|
(.016)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
4.99 % |
2.37%
|
.01%
|
.01%
|
1.56%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.46%
|
.46%
|
.46%
|
.46%
|
.46%
|
|||||
Expenses net of fee waivers, if any
|
.43 % |
.42%
|
.08%
|
.19%
|
.43%
|
|||||
Expenses net of all reductions
|
.43%
|
.42%
|
.08%
|
.19%
|
.43%
|
|||||
Net investment income (loss)
|
4.88%
|
2.71%
|
.01%
|
.02%
|
1.52%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
3,989
|
$
|
3,041
|
$
|
2,612
|
$
|
2,309
|
$
|
2,469
|
Treasury Portfolio Class IV |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.046
|
.021
|
- B
|
- B
|
.013
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.046
|
.021
|
- B
|
- B
|
.013
|
|||||
Distributions from net investment income
|
(.046)
|
(.021)
|
- B
|
- B
|
(.013)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.046)
|
(.021)
|
- B
|
- B
|
(.013)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
4.73 % |
2.14%
|
.01%
|
.01%
|
1.32%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.71%
|
.71%
|
.71%
|
.71%
|
.71%
|
|||||
Expenses net of fee waivers, if any
|
.68 % |
.65%
|
.08%
|
.19%
|
.67%
|
|||||
Expenses net of all reductions
|
.68%
|
.65%
|
.08%
|
.19%
|
.67%
|
|||||
Net investment income (loss)
|
4.63%
|
2.49%
|
.01%
|
.02%
|
1.28%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
871
|
$
|
975
|
$
|
1,146
|
$
|
988
|
$
|
1,033
|
Treasury Portfolio Select Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.051
|
.025
|
- B
|
- B
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.051
|
.025
|
- B
|
- B
|
.018
|
|||||
Distributions from net investment income
|
(.051)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.051)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.20 % |
2.56%
|
.01%
|
.03%
|
1.77%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.26%
|
.26%
|
.26%
|
.26%
|
.26%
|
|||||
Expenses net of fee waivers, if any
|
.23 % |
.23%
|
.08%
|
.17%
|
.23%
|
|||||
Expenses net of all reductions
|
.23%
|
.23%
|
.08%
|
.17%
|
.23%
|
|||||
Net investment income (loss)
|
5.08%
|
2.91%
|
.01%
|
.03%
|
1.72%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
259
|
$
|
214
|
$
|
254
|
$
|
198
|
$
|
424
|
Treasury Portfolio Institutional Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.052
|
.026
|
- B
|
.001
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.052
|
.026
|
- B
|
.001
|
.018
|
|||||
Distributions from net investment income
|
(.052)
|
(.026)
|
- B
|
(.001)
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.052)
|
(.026)
|
- B
|
(.001)
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.29 % |
2.66%
|
.02%
|
.07%
|
1.86%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.18%
|
.18%
|
.18%
|
.18%
|
.18%
|
|||||
Expenses net of fee waivers, if any
|
.14 % |
.14%
|
.07%
|
.13%
|
.14%
|
|||||
Expenses net of all reductions
|
.14%
|
.14%
|
.07%
|
.13%
|
.14%
|
|||||
Net investment income (loss)
|
5.17%
|
3.00%
|
.02%
|
.07%
|
1.81%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
32,455
|
$
|
31,934
|
$
|
10,195
|
$
|
12,539
|
$
|
19,926
|
Current 7-Day Yields
|
||
Class I
|
5.21%
|
|
Class II
|
5.06%
|
|
Class III
|
4.96%
|
|
Select Class
|
5.16%
|
|
Institutional Class
|
5.25%
|
|
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. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending March 31, 2024, the most recent period shown in the table, would have been 5.19% for Class I, 5.04% for Class II, 4.94% for Class III, 5.14% for Select Class, and 5.21% for Institutional Class.
|
Effective Maturity Diversification (% of Fund's Investments)
|
||
Days
|
||
1 - 7
|
56.6
|
|
8 - 30
|
10.7
|
|
31 - 60
|
10.7
|
|
61 - 90
|
7.2
|
|
91 - 180
|
12.7
|
|
> 180
|
2.1
|
|
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)
|
Net Other Assets (Liabilities) - (2.1)%
|
U.S. Treasury Debt - 38.8%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
U.S. Treasury Obligations - 38.8%
|
||||
U.S. Treasury Bills
|
||||
4/2/24 to 9/26/24
|
5.11 to 5.41
|
75,477,038
|
74,733,581
|
|
U.S. Treasury Notes
|
||||
4/30/24 to 3/31/25 (c)
|
4.88 to 5.44
|
2,385,000
|
2,378,542
|
|
TOTAL U.S. TREASURY DEBT
(Cost $77,112,123)
|
77,112,123
|
|||
U.S. Government Agency Debt - 22.5%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
Federal Agencies - 22.5%
|
||||
Federal Farm Credit Bank
|
||||
4/12/24 to 2/20/26 (c)
|
4.84 to 5.53
|
6,662,267
|
6,662,226
|
|
Federal Home Loan Bank
|
||||
11/5/24 (c)(d)(e)
|
0.00
|
211,000
|
211,000
|
|
11/5/24 (c)(d)(e)
|
0.00
|
259,000
|
259,000
|
|
4/1/24 to 1/2/26 (c)
|
4.79 to 8.72
|
37,671,992
|
37,646,274
|
|
TOTAL U.S. GOVERNMENT AGENCY DEBT
(Cost $44,778,500)
|
44,778,500
|
|||
U.S. Government Agency Repurchase Agreement - 15.7%
|
|||
Maturity
Amount ($)
(000s)
|
Value ($)
(000s)
|
||
In a joint trading account at:
|
|||
5.32% dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations) #
|
482,538
|
482,253
|
|
5.33% dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations) #
|
12,302,155
|
12,294,872
|
|
With:
|
|||
ABN AMRO Bank NV at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $309,243,397, 0.38% - 6.00%, 3/1/25 - 2/1/54)
|
303,180
|
303,000
|
|
Bank of America NA at 5.41%, dated 1/5/24 due 5/6/24 (Collateralized by U.S. Government Obligations valued at $127,100,374, 2.50% - 3.50%, 4/1/42 - 5/1/51)
|
125,255
|
123,000
|
|
BMO Harris Bank NA at 5.34%, dated 2/1/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $154,361,700, 3.00% - 7.50%, 9/20/39 - 3/20/64)
|
151,335
|
150,000
|
|
BNP Paribas, SA at:
|
|||
5.32%, dated 1/17/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $193,792,359, 0.00% - 7.00%, 1/31/25 - 3/1/54)
|
189,515
|
187,000
|
|
5.36%, dated:
|
|||
3/11/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $525,914,667, 0.00% - 7.50%, 5/15/26 - 12/20/63) (c)(e)(f)
|
522,112
|
514,000
|
|
3/13/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $213,123,314, 0.00% - 7.00%, 10/31/24 - 2/15/54) (c)(e)(f)
|
210,236
|
207,000
|
|
BofA Securities, Inc. at:
|
|||
5.34%, dated 2/1/24 due 4/1/24 (Collateralized by Mortgage Loan Obligations valued at $204,786,562, 0.38% - 7.50%, 12/31/25 - 2/20/74)
|
200,771
|
199,000
|
|
5.36%, dated 1/25/24 due 4/25/24 (Collateralized by U.S. Government Obligations valued at $130,832,325, 0.38% - 8.50%, 12/1/25 - 4/20/73)
|
128,721
|
127,000
|
|
5.37%, dated 1/26/24 due 4/26/24 (Collateralized by U.S. Government Obligations valued at $130,815,398, 0.38% - 7.55%, 12/31/25 - 8/20/63) (c)(e)(f)
|
128,724
|
127,000
|
|
5.38%, dated 1/18/24 due 4/18/24 (Collateralized by U.S. Government Obligations valued at $384,151,903, 0.38% - 7.50%, 12/31/25 - 11/20/63) (c)(e)(f)
|
377,566
|
372,500
|
|
5.39%, dated 3/6/24 due 6/6/24 (Collateralized by U.S. Government Obligations valued at $269,304,333, 0.38% - 7.00%, 12/31/25 - 12/20/63)
|
266,623
|
263,000
|
|
5.4%, dated 1/2/24 due 4/2/24 (Collateralized by U.S. Government Obligations valued at $943,796,640, 0.38% - 7.50%, 9/1/25 - 11/20/63) (c)(e)(f)
|
925,462
|
913,000
|
|
CIBC Bank U.S.A. at:
|
|||
5.32%, dated 2/15/24 due 4/2/24 (Collateralized by U.S. Government Obligations valued at $244,302,605, 1.13% - 7.00%, 2/15/27 - 4/1/54)
|
239,653
|
238,000
|
|
5.33%, dated:
|
|||
2/20/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $55,389,886, 3.00% - 7.00%, 7/1/28 - 3/1/54)
|
54,464
|
54,000
|
|
2/21/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $101,533,174, 2.50% - 7.00%, 11/1/40 - 3/1/54)
|
99,835
|
99,000
|
|
3/13/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $507,117,344, 2.00% - 7.50%, 7/1/28 - 3/1/54)
|
498,128
|
496,000
|
|
5.38%, dated 2/20/24 due 4/18/24 (Collateralized by U.S. Government Obligations valued at $13,713,270, 0.00% - 7.00%, 8/15/26 - 10/16/64)
|
13,113
|
13,000
|
|
Citibank NA at 5.34%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $310,125,996, 0.00% - 7.50%, 8/20/24 - 8/15/64)
|
304,316
|
304,000
|
|
Citigroup Global Capital Markets, Inc. at:
|
|||
5.34%, dated:
|
|||
3/4/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $307,134,752, 0.00% - 7.50%, 8/31/28 - 1/20/53)
|
301,380
|
300,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $466,209,222, 0.25% - 4.38%, 7/31/25 - 6/30/28)
|
457,475
|
457,000
|
|
5.37%, dated 3/21/24 due 5/21/24 (Collateralized by U.S. Government Obligations valued at $545,330,024, 0.00% - 7.05%, 4/15/26 - 12/20/69)
|
538,859
|
534,000
|
|
FICC State Street GC (Gov. Repo) at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $416,097,385, 2.00% - 7.50%, 5/1/31 - 3/1/54)
|
406,241
|
406,000
|
|
Goldman Sachs & Co. at:
|
|||
5.33%, dated:
|
|||
3/25/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $615,697,441, 2.00% - 9.00%, 4/25/24 - 9/15/64)
|
603,625
|
603,000
|
|
3/26/24 due 4/2/24 (Collateralized by U.S. Government Obligations valued at $1,349,637,898, 1.38% - 6.50%, 10/31/28 - 12/15/60)
|
1,323,370
|
1,322,000
|
|
3/26/24 due:
|
|||
4/1/24 (Collateralized by U.S. Government Obligations valued at $825,668,724, 1.38% - 6.50%, 10/31/28 - 9/15/64)
|
809,479
|
809,000
|
|
4/4/24 (Collateralized by U.S. Treasury Obligations valued at $724,628,889, 1.38% - 6.00%, 2/28/26 - 8/1/53)
|
710,736
|
710,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $2,284,459,939, 0.00% - 8.50%, 4/15/24 - 9/15/57)
|
2,240,324
|
2,238,000
|
|
ING Financial Markets LLC at 5.36%, dated:
|
|||
3/21/24 due 5/2/24 (Collateralized by U.S. Government Obligations valued at $476,907,375, 2.00% - 8.00%, 3/1/28 - 4/1/54)
|
469,920
|
467,000
|
|
3/22/24 due 5/3/24 (Collateralized by U.S. Government Obligations valued at $203,191,550, 2.00% - 7.00%, 3/15/31 - 11/1/53)
|
200,244
|
199,000
|
|
Mitsubishi UFJ Securities (U.S.A.), Inc. at 5.36%, dated 3/21/24 due 6/13/24 (Collateralized by U.S. Government Obligations valued at $940,538,954, 2.00% - 6.00%, 5/1/24 - 1/1/54)
|
932,519
|
921,000
|
|
Morgan Stanley & Co., LLC at 5.42%, dated 3/4/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $135,496,509, 0.00% - 7.00%, 6/13/24 - 2/25/54) (c)(e)(f)
|
131,552
|
131,000
|
|
MUFG Securities (Canada), Ltd. at 5.36%, dated 3/21/24 due 6/13/24 (Collateralized by U.S. Government Obligations valued at $190,969,311, 0.63% - 6.50%, 5/15/25 - 2/15/54)
|
189,339
|
187,000
|
|
RBC Dominion Securities at 5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Government Obligations valued at $415,715,312, 0.00% - 8.00%, 7/1/24 - 2/1/54)
|
407,423
|
407,000
|
|
RBC Financial Group at 5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $2,202,199,160, 0.13% - 7.50%, 4/30/24 - 3/20/54)
|
2,158,444
|
2,147,000
|
|
TD Securities (U.S.A.) at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $350,932,048, 4.50% - 6.50%, 11/1/48 - 3/1/54)
|
344,204
|
344,000
|
|
Wells Fargo Securities, LLC at:
|
|||
5.37%, dated:
|
|||
3/21/24 due 6/21/24 (Collateralized by U.S. Government Obligations valued at $545,576,119, 1.50% - 7.50%, 8/25/24 - 3/20/54)
|
541,328
|
534,000
|
|
3/26/24 due 6/21/24 (Collateralized by U.S. Government Obligations valued at $81,673,390, 0.96% - 7.50%, 7/15/30 - 2/20/54)
|
81,038
|
80,000
|
|
5.38%, dated 2/21/24 due 5/21/24 (Collateralized by U.S. Government Obligations valued at $530,494,639, 3.02% - 7.00%, 8/25/24 - 6/20/53)
|
523,954
|
517,000
|
|
5.39%, dated:
|
|||
2/28/24 due 5/28/24 (Collateralized by U.S. Government Obligations valued at $270,611,653, 0.96% - 7.50%, 7/20/24 - 3/20/54)
|
267,557
|
264,000
|
|
3/15/24 due 6/13/24 (Collateralized by U.S. Government Obligations valued at $277,124,783, 0.96% - 7.00%, 4/20/29 - 3/20/54)
|
274,652
|
271,000
|
|
TOTAL U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENT
(Cost $31,314,625)
|
31,314,625
|
||
U.S. Treasury Repurchase Agreement - 25.1%
|
|||
Maturity
Amount ($)
(000s)
|
Value ($)
(000s)
|
||
With:
|
|||
ABN AMRO Bank NV at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $278,624,965, 0.38% - 1.25%, 4/30/27 - 7/31/28)
|
273,162
|
273,000
|
|
Barclays Bank PLC at:
|
|||
5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $559,042,668, 0.38% - 4.63%, 9/15/25 - 5/15/29)
|
548,324
|
548,000
|
|
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $657,658,101, 0.00% - 4.00%, 3/20/25 - 4/30/29)
|
648,005
|
644,000
|
|
BMO Capital Markets Corp. at 5.32%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $94,185,163, 0.00% - 4.25%, 9/5/24 - 2/15/54)
|
92,095
|
92,000
|
|
BMO Harris Bank NA at:
|
|||
5.31%, dated 3/25/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $90,873,768, 0.00% - 0.63%, 8/8/24 - 12/31/27)
|
89,092
|
89,000
|
|
5.32%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $92,874,934, 0.00% - 4.13%, 8/8/24 - 12/31/27)
|
91,094
|
91,000
|
|
BNP Paribas, SA at:
|
|||
5.36%, dated:
|
|||
2/29/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $923,385,714, 0.88% - 5.47%, 7/31/24 - 5/15/49) (c)(e)(f)
|
915,220
|
901,000
|
|
3/1/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $742,448,707, 0.00% - 7.63%, 4/18/24 - 8/15/53) (c)(e)(f)
|
736,073
|
724,000
|
|
3/8/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $281,595,789, 0.50% - 5.47%, 7/31/24 - 5/15/52) (c)(e)(f)
|
279,422
|
275,000
|
|
3/11/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $1,322,005,196, 0.00% - 5.50%, 4/18/24 - 11/15/53) (c)(e)(f)
|
1,312,391
|
1,292,000
|
|
5.37%, dated:
|
|||
2/14/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $1,477,769,700, 0.38% - 5.44%, 7/31/24 - 2/15/54) (c)(e)(f)
|
1,458,864
|
1,433,000
|
|
2/16/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $367,604,593, 0.00% - 5.44%, 6/30/24 - 2/15/54) (c)(e)(f)
|
364,515
|
358,000
|
|
2/20/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $366,236,210, 0.88% - 5.50%, 10/31/24 - 2/15/54) (c)(e)(f)
|
362,638
|
356,000
|
|
BofA Securities, Inc. at:
|
|||
5.33%, dated 2/5/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $89,475,783, 0.38% - 4.38%, 12/31/25 - 8/15/43)
|
88,172
|
87,000
|
|
5.34%, dated 2/29/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $90,186,093, 0.38% - 1.75%, 12/31/25 - 8/15/41)
|
89,175
|
88,000
|
|
5.35%, dated 1/25/24 due 4/25/24 (Collateralized by U.S. Treasury Obligations valued at $111,256,920, 0.38% - 3.25%, 12/31/25 - 5/15/42) (c)(e)(f)
|
109,461
|
108,000
|
|
CIBC Bank U.S.A. at 5.32%, dated:
|
|||
3/6/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $70,620,120, 0.75% - 4.75%, 1/31/26 - 2/15/54)
|
69,306
|
69,000
|
|
3/21/24 due 4/4/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $121,532,588, 0.38% - 4.50%, 2/28/26 - 2/15/54)
|
119,440
|
119,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $186,881,113, 0.88% - 4.88%, 11/30/25 - 2/15/54)
|
183,379
|
183,000
|
|
3/27/24 due 4/4/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $122,511,187, 0.38% - 4.13%, 2/28/25 - 8/15/53)
|
119,580
|
119,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $65,299,488, 0.38% - 4.25%, 2/28/25 - 2/15/54)
|
64,340
|
64,000
|
|
Credit AG at 5.32%, dated 3/25/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $139,822,626, 2.75%, 4/30/27)
|
137,628
|
137,000
|
|
Federal Reserve Bank of New York at 5.3%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $18,798,063,514, 0.63% - 4.38%, 8/15/27 - 5/15/45)
|
18,798,063
|
18,787,000
|
|
FICC ACAFB Repo Program at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $568,051,814, 3.50% - 4.88%, 10/31/28 - 5/15/43)
|
548,325
|
548,000
|
|
Ficc Citi Gc Repo (GOV REPO) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $185,667,487, 0.00% - 5.00%, 5/16/24 - 5/15/47)
|
182,108
|
182,000
|
|
Ficc Nomura Gc Repo (GOV REPO) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $1,118,085,588, 0.00% - 1.75%, 6/30/24 - 3/20/25)
|
1,096,649
|
1,096,000
|
|
Fixed Income Clearing Corp. - BNP at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $1,212,479,428, 0.88% - 5.50%, 10/31/24 - 11/15/53)
|
1,188,705
|
1,188,000
|
|
Fixed Income Clearing Corp. - BNYM at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $6,785,040,003, 0.00% - 3.88%, 6/13/24 - 11/15/47)
|
6,655,932
|
6,652,000
|
|
Fixed Income Clearing Corp. - SSB at:
|
|||
5.31%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $559,041,478, 0.55% - 3.25%, 6/30/27 - 7/31/27)
|
548,323
|
548,000
|
|
5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $4,660,855,903, 0.38% - 4.13%, 7/31/27 - 11/15/27)
|
4,571,701
|
4,569,000
|
|
5.35%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $373,285,304, 2.75% - 3.50%, 8/15/32 - 2/15/33)
|
366,218
|
366,000
|
|
Fixed Income Clearing Corp.- Morgan Stanley & CO LLC at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $279,583,604, 2.75%, 5/31/29)
|
274,163
|
274,000
|
|
Goldman Sachs & Co. at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $320,469,364, 0.00% - 2.00%, 5/14/24 - 5/15/40)
|
314,186
|
314,000
|
|
ING Financial Markets LLC at 5.33%, dated:
|
|||
3/26/24 due 4/2/24 (Collateralized by U.S. Treasury Obligations valued at $35,719,027, 0.00% - 4.25%, 9/5/24 - 5/15/51)
|
35,036
|
35,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $18,362,720, 0.63% - 3.50%, 12/31/24 - 2/15/42)
|
18,019
|
18,000
|
|
Lloyds Bank Corp. Markets PLC at 5.35%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $381,628,318, 4.63%, 9/15/26)
|
374,389
|
374,000
|
|
Lloyds Bank PLC at:
|
|||
5.39%, dated:
|
|||
2/20/24 due 5/20/24 (Collateralized by U.S. Treasury Obligations valued at $83,213,532, 2.25% - 4.13%, 2/15/27 - 7/31/28)
|
82,091
|
81,000
|
|
2/26/24 due 5/28/24 (Collateralized by U.S. Treasury Obligations valued at $119,065,243, 4.13%, 7/31/28)
|
117,598
|
116,000
|
|
3/20/24 due 6/20/24 (Collateralized by U.S. Treasury Obligations valued at $155,335,435, 3.25%, 6/30/27)
|
154,094
|
152,000
|
|
5.4%, dated 2/29/24 due 5/31/24 (Collateralized by U.S. Treasury Obligations valued at $83,024,117, 2.25%, 8/15/27)
|
82,118
|
81,000
|
|
Mitsubishi UFJ Securities (U.S.A.), Inc. at 5.34%, dated 3/21/24 due 6/13/24 (Collateralized by U.S. Treasury Obligations valued at $240,158,437, 0.00% - 4.50%, 10/31/24 - 2/15/33)
|
236,916
|
234,000
|
|
Mizuho Bank, Ltd. at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $467,829,154, 3.50%, 4/30/28)
|
457,271
|
457,000
|
|
MUFG Securities (Canada), Ltd. at:
|
|||
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $93,984,862, 0.25% - 6.50%, 7/31/24 - 2/15/54)
|
92,572
|
92,000
|
|
5.34%, dated 3/21/24 due 6/13/24 (Collateralized by U.S. Treasury Obligations valued at $178,874,811, 0.25% - 6.50%, 1/31/25 - 5/15/53)
|
177,181
|
175,000
|
|
MUFG Securities EMEA PLC at:
|
|||
5.32%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $285,179,884, 2.88% - 4.25%, 5/15/32 - 11/15/42)
|
276,571
|
276,000
|
|
5.33%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $375,751,915, 1.25% - 4.13%, 11/30/26 - 9/30/27)
|
368,381
|
368,000
|
|
5.34%, dated 3/28/24 due:
|
|||
4/1/24 (Collateralized by U.S. Treasury Obligations valued at $232,831,248, 3.25% - 3.88%, 5/15/42 - 2/15/43)
|
228,135
|
228,000
|
|
4/4/24 (Collateralized by U.S. Treasury Obligations valued at $186,730,736, 0.75% - 5.00%, 10/31/25 - 3/31/26)
|
183,190
|
183,000
|
|
Natixis SA at 5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $373,762,190, 0.00% - 5.25%, 6/27/24 - 2/15/44)
|
368,113
|
366,000
|
|
NatWest Markets Securities, Inc. at:
|
|||
5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $90,833,763, 1.63% - 4.88%, 10/31/30 - 11/15/41)
|
89,053
|
89,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $458,321,667, 0.25% - 4.88%, 6/15/24 - 5/15/46)
|
449,466
|
449,000
|
|
Norinchukin Bank at 5.35%, dated 3/26/24 due 4/2/24 (Collateralized by U.S. Treasury Obligations valued at $178,553,078, 1.88%, 2/15/32)
|
175,182
|
175,000
|
|
Prudential Insurance Co. of America at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $281,694,549, 1.25% - 7.50%, 11/15/24 - 11/15/33)
|
276,305
|
276,141
|
|
RBC Dominion Securities at:
|
|||
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $750,093,194, 0.25% - 6.88%, 9/30/24 - 2/15/53)
|
738,564
|
734,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $186,798,579, 0.00% - 4.63%, 6/30/24 - 2/15/53)
|
183,190
|
183,000
|
|
SMBC Nikko Securities America, Inc. at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $765,113,116, 0.00% - 6.88%, 6/15/24 - 11/15/43)
|
750,443
|
750,000
|
|
Societe Generale at 5.33%, dated:
|
|||
3/26/24 due 4/2/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $240,766,489, 2.38% - 3.88%, 5/15/43 - 5/15/53)
|
234,243
|
234,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $373,592,384, 0.38% - 4.88%, 4/30/25 - 11/15/50)
|
366,379
|
366,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $373,949,562, 0.63% - 4.63%, 2/29/28 - 8/15/51)
|
366,379
|
366,000
|
|
Sumitomo Mitsui Trust Bank Ltd. at 5.4%, dated 3/27/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $41,343,760, 1.63%, 8/15/29)
|
40,585
|
40,500
|
|
TD Securities (U.S.A.) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $346,851,437, 1.75% - 4.00%, 4/30/24 - 2/28/30)
|
340,201
|
340,000
|
|
TOTAL U.S. TREASURY REPURCHASE AGREEMENT
(Cost $49,812,641)
|
49,812,641
|
||
TOTAL INVESTMENT IN SECURITIES - 102.1%
(Cost $203,017,889)
|
203,017,889
|
NET OTHER ASSETS (LIABILITIES) - (2.1)%
|
(4,201,514)
|
NET ASSETS - 100.0%
|
198,816,375
|
(a)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(b)
|
Amount is stated in United States dollars unless otherwise noted.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(d)
|
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
|
(e)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
(f)
|
The maturity amount is based on the rate at period end.
|
Other Information
|
||
# Additional information on each counterparty to the repurchase agreement is as follows:
|
||
Repurchase Agreement / Counterparty
|
Value ($)
(000's)
|
|
$482,253,000 due 4/01/24 at 5.32%
|
||
BofA Securities, Inc.
|
4,550
|
|
Citigroup Global Markets, Inc.
|
905
|
|
Credit Agricole CIB New York Branch
|
37,145
|
|
HSBC Securities (USA), Inc.
|
163
|
|
ING Financial Markets LLC
|
26,406
|
|
JP Morgan Securities LLC
|
70,992
|
|
Mitsubishi UFJ Securities Holdings Ltd
|
832
|
|
Mizuho Securities USA, Inc.
|
667
|
|
Nomura Securities International
|
35,485
|
|
RBC Dominion Securities, Inc.
|
303,860
|
|
Wells Fargo Bank National Asso
|
1,248
|
|
482,253
|
||
$12,294,872,000 due 4/01/24 at 5.33%
|
||
Bank of America, N.A.
|
729,263
|
|
Bank of Nova Scotia
|
215,087
|
|
BofA Securities, Inc.
|
12,792
|
|
Citigroup Global Markets, Inc.
|
1,017,989
|
|
Credit Agricole CIB New York Branch
|
743,866
|
|
HSBC Securities (USA), Inc.
|
628,889
|
|
ING Financial Markets LLC
|
304,289
|
|
JP Morgan Securities LLC
|
1,091,992
|
|
Mitsubishi UFJ Securities Holdings Ltd
|
465,918
|
|
Mizuho Securities USA, Inc.
|
506,433
|
|
Nomura Securities International
|
859,785
|
|
RBC Dominion Securities, Inc.
|
1,722,223
|
|
Sumitomo Mitsui Banking Corp.
|
3,591,200
|
|
Wells Fargo Securities LLC
|
405,146
|
|
12,294,872
|
Statement of Assets and Liabilities
|
||||
Amounts in thousands (except per-share amounts)
|
March 31, 2024
|
|||
Assets
|
||||
Investment in securities, at value (including repurchase agreements of $81,127,266) - See accompanying schedule
Unaffiliated issuers (cost $203,017,889):
|
$
|
203,017,889
|
||
Cash
|
332,614
|
|||
Receivable for fund shares sold
|
185,689
|
|||
Interest receivable
|
537,004
|
|||
Prepaid expenses
|
84
|
|||
Receivable from investment adviser for expense reductions
|
5,530
|
|||
Other receivables
|
1,674
|
|||
Total assets
|
204,080,484
|
|||
Liabilities
|
||||
Payable for investments purchased
|
||||
Regular delivery
|
$
|
4,529,220
|
||
Delayed delivery
|
470,000
|
|||
Payable for fund shares redeemed
|
207,368
|
|||
Distributions payable
|
19,481
|
|||
Accrued management fee
|
23,532
|
|||
Distribution and service plan fees payable
|
1,376
|
|||
Other affiliated payables
|
6,702
|
|||
Other payables and accrued expenses
|
6,430
|
|||
Total liabilities
|
5,264,109
|
|||
Net Assets
|
$
|
198,816,375
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
198,817,312
|
||
Total accumulated earnings (loss)
|
(937)
|
|||
Net Assets
|
$
|
198,816,375
|
||
Net Asset Value and Maximum Offering Price
|
||||
Class I :
|
||||
Net Asset Value, offering price and redemption price per share ($42,265,971 ÷ 42,254,558 shares)
|
$
|
1.00
|
||
Class II :
|
||||
Net Asset Value, offering price and redemption price per share ($1,317,113 ÷ 1,316,462 shares)
|
$
|
1.00
|
||
Class III :
|
||||
Net Asset Value, offering price and redemption price per share ($5,714,437 ÷ 5,711,675 shares)
|
$
|
1.00
|
||
Select Class :
|
||||
Net Asset Value, offering price and redemption price per share ($217,340 ÷ 217,312 shares)
|
$
|
1.00
|
||
Institutional Class :
|
||||
Net Asset Value, offering price and redemption price per share ($149,301,514 ÷ 149,306,758 shares)
|
$
|
1.00
|
Statement of Operations
|
||||
Amounts in thousands
|
Year ended
March 31, 2024
|
|||
Investment Income
|
||||
Interest
|
$
|
9,758,810
|
||
Expenses
|
||||
Management fee
|
$
|
257,025
|
||
Transfer agent fees
|
69,381
|
|||
Distribution and service plan fees
|
15,656
|
|||
Accounting fees and expenses
|
4,447
|
|||
Custodian fees and expenses
|
729
|
|||
Independent trustees' fees and expenses
|
573
|
|||
Registration fees
|
5,969
|
|||
Audit
|
61
|
|||
Legal
|
108
|
|||
Miscellaneous
|
620
|
|||
Total expenses before reductions
|
354,569
|
|||
Expense reductions
|
(62,461)
|
|||
Total expenses after reductions
|
292,108
|
|||
Net Investment income (loss)
|
9,466,702
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(506)
|
|||
Total net realized gain (loss)
|
(506)
|
|||
Net increase in net assets resulting from operations
|
$
|
9,466,196
|
Statement of Changes in Net Assets
|
||||
Amount in thousands
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
9,466,702
|
$
|
3,269,683
|
Net realized gain (loss)
|
(506)
|
(684)
|
||
Net increase in net assets resulting from operations
|
9,466,196
|
3,268,999
|
||
Distributions to shareholders
|
(9,467,184)
|
(3,268,145)
|
||
Share transactions - net increase (decrease)
|
26,669,281
|
44,414,081
|
||
Total increase (decrease) in net assets
|
26,668,293
|
44,414,935
|
||
Net Assets
|
||||
Beginning of period
|
172,148,082
|
127,733,147
|
||
End of period
|
$
|
198,816,375
|
$
|
172,148,082
|
Government Portfolio Class I |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.051
|
.025
|
- B
|
- B
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.051
|
.025
|
- B
|
- B
|
.018
|
|||||
Distributions from net investment income
|
(.051)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.051)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.26 % |
2.57%
|
.02%
|
.04%
|
1.83%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.21%
|
.21%
|
.20%
|
.20%
|
.21%
|
|||||
Expenses net of fee waivers, if any
|
.18 % |
.18%
|
.08%
|
.15%
|
.18%
|
|||||
Expenses net of all reductions
|
.18%
|
.18%
|
.08%
|
.15%
|
.18%
|
|||||
Net investment income (loss)
|
5.14%
|
2.61%
|
.01%
|
.05%
|
1.77%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
42,266
|
$
|
44,905
|
$
|
30,836
|
$
|
33,508
|
$
|
45,360
|
Government Portfolio Class II |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.050
|
.024
|
- B
|
- B
|
.017
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.050
|
.024
|
- B
|
- B
|
.017
|
|||||
Distributions from net investment income
|
(.050)
|
(.024)
|
- B
|
- B
|
(.017)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.050)
|
(.024)
|
- B
|
- B
|
(.017)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.10 % |
2.41%
|
.01%
|
.01%
|
1.68%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.36%
|
.36%
|
.35%
|
.35%
|
.36%
|
|||||
Expenses net of fee waivers, if any
|
.33 % |
.33%
|
.08%
|
.17%
|
.33%
|
|||||
Expenses net of all reductions
|
.33%
|
.33%
|
.08%
|
.17%
|
.33%
|
|||||
Net investment income (loss)
|
4.99%
|
2.46%
|
.01%
|
.03%
|
1.62%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
1,317
|
$
|
942
|
$
|
959
|
$
|
1,366
|
$
|
697
|
Government Portfolio Class III |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.049
|
.023
|
- B
|
- B
|
.016
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.049
|
.023
|
- B
|
- B
|
.016
|
|||||
Distributions from net investment income
|
(.049)
|
(.023)
|
- B
|
- B
|
(.016)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.049)
|
(.023)
|
- B
|
- B
|
(.016)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.00 % |
2.32%
|
.01%
|
.01%
|
1.57%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.46%
|
.46%
|
.45%
|
.45%
|
.46%
|
|||||
Expenses net of fee waivers, if any
|
.43 % |
.42%
|
.08%
|
.19%
|
.43%
|
|||||
Expenses net of all reductions
|
.43%
|
.42%
|
.08%
|
.19%
|
.43%
|
|||||
Net investment income (loss)
|
4.89%
|
2.37%
|
.01%
|
.02%
|
1.52%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
5,714
|
$
|
4,189
|
$
|
3,764
|
$
|
3,234
|
$
|
3,704
|
Government Portfolio Select Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.051
|
.025
|
- B
|
- B
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.051
|
.025
|
- B
|
- B
|
.018
|
|||||
Distributions from net investment income
|
(.051)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.051)
|
(.025)
|
- B
|
- B
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.21 % |
2.51%
|
.01%
|
.03%
|
1.78%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.26%
|
.26%
|
.25%
|
.25%
|
.26%
|
|||||
Expenses net of fee waivers, if any
|
.23 % |
.23%
|
.08%
|
.17%
|
.23%
|
|||||
Expenses net of all reductions
|
.23%
|
.23%
|
.08%
|
.17%
|
.23%
|
|||||
Net investment income (loss)
|
5.09%
|
2.56%
|
.02%
|
.03%
|
1.72%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
217
|
$
|
218
|
$
|
293
|
$
|
367
|
$
|
498
|
Government Portfolio Institutional Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.052
|
.026
|
- B
|
.001
|
.019
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.052
|
.026
|
- B
|
.001
|
.019
|
|||||
Distributions from net investment income
|
(.052)
|
(.026)
|
- B
|
(.001)
|
(.019)
|
|||||
Distributions from net realized gain
|
-
|
-
|
- B
|
-
|
-
|
|||||
Total distributions
|
(.052)
|
(.026)
|
- B
|
(.001)
|
(.019)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.30 % |
2.61%
|
.02%
|
.07%
|
1.87%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.18%
|
.18%
|
.17%
|
.17%
|
.18%
|
|||||
Expenses net of fee waivers, if any
|
.14 % |
.14%
|
.07%
|
.13%
|
.14%
|
|||||
Expenses net of all reductions
|
.14%
|
.14%
|
.07%
|
.13%
|
.14%
|
|||||
Net investment income (loss)
|
5.18%
|
2.65%
|
.02%
|
.07%
|
1.81%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
149,302
|
$
|
121,893
|
$
|
91,881
|
$
|
92,805
|
$
|
122,312
|
Current 7-Day Yields
|
||
Class I
|
5.28%
|
|
Class II
|
5.13%
|
|
Class III
|
5.03%
|
|
Select Class
|
5.23%
|
|
Institutional Class
|
5.32%
|
|
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. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending March 31, 2024, the most recent period shown in the table, would have been 5.25% for Class I, 5.11% for Class II, 5.01% for Class III, 5.20% for Select Class, and 5.28% for Institutional Class.
|
Effective Maturity Diversification (% of Fund's Investments)
|
||
Days
|
||
1 - 7
|
49.4
|
|
8 - 30
|
14.5
|
|
31 - 60
|
14.5
|
|
61 - 90
|
9.6
|
|
91 - 180
|
11.7
|
|
> 180
|
0.3
|
|
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940.
|
Asset Allocation (% of Fund's net assets)
|
Net Other Assets (Liabilities) - (1.0)%
|
Certificate of Deposit - 7.5%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
Domestic Certificates Of Deposit - 0.2%
|
||||
BMO Harris Bank NA
|
||||
6/4/24 to 9/10/24
|
5.40 to 5.68
|
235,000
|
235,000
|
|
New York Branch, Yankee Dollar, Foreign Banks - 7.3%
|
||||
Bank of Montreal
|
||||
7/26/24 to 9/26/24
|
5.39 to 5.46
|
650,000
|
650,000
|
|
Bank of Nova Scotia
|
||||
4/11/24 to 6/7/24 (c)
|
5.72 to 5.85
|
791,000
|
791,000
|
|
Canadian Imperial Bank of Commerce
|
||||
9/6/24 to 9/9/24
|
5.38 to 5.38
|
216,000
|
216,000
|
|
Commonwealth Bank of Australia New York Branch
|
||||
10/4/24 (c)(d)
|
5.52
|
66,000
|
66,000
|
|
KBC Bank NV
|
||||
5/6/24 to 6/5/24
|
5.40 to 5.40
|
530,000
|
530,000
|
|
Landesbank Baden-Wuerttemberg New York Branch
|
||||
4/1/24 to 4/3/24
|
5.38 to 5.38
|
789,000
|
789,000
|
|
Mitsubishi UFJ Trust & Banking Corp.
|
||||
4/1/24 to 6/6/24 (c)
|
5.43 to 5.55
|
1,456,000
|
1,456,000
|
|
Mizuho Corporate Bank Ltd.
|
||||
4/17/24 to 5/9/24 (c)
|
5.43 to 5.44
|
1,866,000
|
1,866,000
|
|
MUFG Bank Ltd.
|
||||
4/16/24 to 7/25/24 (c)
|
5.42 to 5.48
|
1,829,000
|
1,829,000
|
|
Sumitomo Mitsui Banking Corp.
|
||||
6/4/24 to 6/10/24 (c)(d)
|
5.45 to 5.45
|
529,000
|
529,000
|
|
Sumitomo Mitsui Trust Bank Ltd.
|
||||
5/14/24 to 5/16/24
|
5.40 to 5.40
|
530,000
|
530,000
|
|
TOTAL NEW YORK BRANCH, YANKEE DOLLAR, FOREIGN BANKS
|
9,252,000
|
|||
TOTAL CERTIFICATE OF DEPOSIT
(Cost $9,487,000)
|
9,487,000
|
|||
Financial Company Commercial Paper - 20.2%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
Australia & New Zealand Banking Group Ltd.
|
||||
4/9/24 to 8/20/24
|
5.37 to 5.78
|
659,000
|
650,578
|
|
Bank of Montreal
|
||||
4/5/24 to 8/27/24 (c)
|
5.41 to 5.81
|
1,528,000
|
1,508,720
|
|
Bank of Nova Scotia
|
||||
8/26/24 to 10/21/24
|
5.38 to 5.45
|
922,000
|
898,330
|
|
Barclays Bank PLC/Barclays U.S. CCP Funding LLC
|
||||
4/5/24 to 5/10/24 (e)
|
5.40 to 5.45
|
1,267,000
|
1,263,393
|
|
Bedford Row Funding Corp.
|
||||
4/15/24 (c)(d)
|
5.68
|
80,000
|
80,000
|
|
4/8/24 (c)(d)
|
5.68
|
67,000
|
67,000
|
|
5/13/24 (c)(d)
|
5.69
|
119,000
|
119,000
|
|
Bedford Row Funding Corp. (Liquidity Facility Royal Bank of Canada)
|
||||
5/16/24
|
5.59
|
54,000
|
53,632
|
|
5/16/24
|
5.59
|
53,000
|
52,639
|
|
5/20/24
|
5.84
|
172,000
|
170,677
|
|
5/23/24
|
5.85
|
79,000
|
78,354
|
|
8/20/24
|
5.39
|
53,000
|
51,911
|
|
9/10/24
|
5.41
|
67,000
|
65,411
|
|
9/16/24
|
5.38
|
98,000
|
95,613
|
|
9/19/24
|
5.46
|
132,000
|
128,671
|
|
9/3/24
|
5.38
|
53,000
|
51,807
|
|
9/6/24
|
5.39
|
54,000
|
52,756
|
|
BofA Securities, Inc.
|
||||
7/8/24 to 8/1/24
|
5.41 to 5.46
|
1,322,000
|
1,300,999
|
|
BPCE SA
|
||||
6/4/24 to 6/5/24
|
5.40 to 5.40
|
789,000
|
781,460
|
|
Canadian Imperial Bank of Commerce
|
||||
9/5/24 to 9/20/24
|
5.38 to 5.45
|
1,185,000
|
1,156,078
|
|
Cisco Systems, Inc.
|
||||
6/26/24 to 9/4/24
|
5.40 to 5.43
|
1,399,000
|
1,375,496
|
|
Commonwealth Bank of Australia
|
||||
9/30/24 (c)(d)
|
5.52
|
106,000
|
106,000
|
|
DNB Bank ASA
|
||||
4/5/24 to 8/16/24
|
5.37 to 5.84
|
1,284,000
|
1,275,751
|
|
Federation des caisses Desjardin
|
||||
5/14/24 to 7/11/24
|
5.37 to 5.40
|
318,000
|
314,315
|
|
Landesbank Baden-Wurttemberg
|
||||
4/1/24
|
5.35
|
3,316,000
|
3,316,000
|
|
Landesbank Hessen-Thuringen
|
||||
4/1/24
|
5.33
|
239,000
|
239,000
|
|
Mitsubishi UFJ Trust & Banking Corp.
|
||||
5/16/24 to 6/13/24
|
5.44 to 5.44
|
214,000
|
212,112
|
|
Mizuho Bank Ltd. Singapore Branch
|
||||
4/4/24 to 6/3/24
|
5.41 to 5.49
|
846,000
|
841,229
|
|
National Australia Bank Ltd.
|
||||
5/8/24 to 10/2/24 (c)(d)
|
5.49 to 5.68
|
1,238,000
|
1,238,000
|
|
National Bank of Canada
|
||||
5/14/24 to 9/12/24
|
5.40 to 5.70
|
1,427,400
|
1,412,751
|
|
Podium Funding Trust (Liquidity Facility Bank of Montreal)
|
||||
4/18/24
|
5.84
|
53,000
|
52,858
|
|
7/11/24
|
5.39
|
79,000
|
77,836
|
|
8/12/24
|
5.40
|
39,000
|
38,242
|
|
8/20/24
|
5.42
|
105,000
|
102,829
|
|
8/23/24
|
5.42
|
25,000
|
24,473
|
|
9/16/24
|
5.45
|
53,000
|
51,687
|
|
9/3/24
|
5.40
|
19,000
|
18,570
|
|
Royal Bank of Canada
|
||||
4/1/24 to 6/7/24 (c)
|
5.57 to 5.73
|
1,827,000
|
1,826,959
|
|
Sumitomo Mitsui Trust Bank Ltd.
|
||||
5/8/24 to 6/21/24
|
5.40 to 5.43
|
2,640,000
|
2,616,108
|
|
The Toronto-Dominion Bank
|
||||
5/7/24 to 10/28/24 (c)
|
5.40 to 5.54
|
1,903,000
|
1,888,857
|
|
Toyota Motor Credit Corp.
|
||||
5/28/24
|
5.70
|
106,000
|
105,070
|
|
TOTAL FINANCIAL COMPANY COMMERCIAL PAPER
(Cost $25,761,172)
|
25,761,172
|
|||
Asset Backed Commercial Paper - 2.1%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
Atlantic Asset Securitization LLC (Liquidity Facility Credit Agricole CIB)
|
||||
5/21/24
|
5.41
|
12,000
|
11,911
|
|
6/20/24
|
5.42
|
31,000
|
30,633
|
|
Cabot Trail Funding LLC (Liquidity Facility The Toronto-Dominion Bank)
|
||||
5/20/24
|
5.40
|
39,000
|
38,717
|
|
6/21/24
|
5.39
|
65,000
|
64,225
|
|
6/3/24
|
5.41
|
53,000
|
52,505
|
|
7/11/24
|
5.40
|
23,000
|
22,659
|
|
Gotham Funding Corp. (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.)
|
||||
4/11/24
|
5.43
|
10,000
|
9,985
|
|
4/12/24
|
5.43
|
27,000
|
26,956
|
|
4/16/24
|
5.43
|
6,000
|
5,987
|
|
4/16/24
|
5.43
|
100,000
|
99,777
|
|
4/18/24
|
5.43
|
25,000
|
24,937
|
|
5/10/24
|
5.41
|
27,000
|
26,844
|
|
5/10/24
|
5.41
|
25,000
|
24,855
|
|
5/13/24
|
5.42
|
80,000
|
79,501
|
|
5/15/24
|
5.42
|
147,000
|
146,039
|
|
5/16/24
|
5.42
|
67,000
|
66,552
|
|
5/16/24
|
5.42
|
53,000
|
52,646
|
|
5/17/24
|
5.41
|
41,000
|
40,720
|
|
5/6/24
|
5.42
|
79,000
|
78,589
|
|
5/6/24
|
5.42
|
42,000
|
41,782
|
|
5/7/24
|
5.42
|
15,000
|
14,920
|
|
5/9/24
|
5.41
|
27,000
|
26,848
|
|
5/9/24
|
5.41
|
25,000
|
24,859
|
|
6/24/24
|
5.45
|
108,000
|
106,644
|
|
Liberty Street Funding LLC (Liquidity Facility Bank of Nova Scotia)
|
||||
5/15/24
|
5.40
|
33,000
|
32,785
|
|
5/23/24
|
5.42
|
25,000
|
24,807
|
|
6/17/24
|
5.43
|
7,840
|
7,750
|
|
6/20/24
|
5.43
|
66,000
|
65,214
|
|
6/21/24
|
5.43
|
31,000
|
30,626
|
|
6/21/24
|
5.43
|
75,000
|
74,095
|
|
6/24/24
|
5.44
|
66,000
|
65,175
|
|
6/26/24
|
5.45
|
65,000
|
64,165
|
|
6/26/24
|
5.45
|
27,000
|
26,653
|
|
6/26/24
|
5.45
|
27,000
|
26,653
|
|
6/26/24
|
5.45
|
27,000
|
26,653
|
|
Manhattan Asset Funding Co. LLC (Liquidity Facility Sumitomo Mitsui Banking Corp.)
|
||||
5/15/24
|
5.40
|
25,000
|
24,837
|
|
5/23/24
|
5.40
|
27,000
|
26,792
|
|
5/23/24
|
5.40
|
36,000
|
35,723
|
|
6/18/24
|
5.43
|
41,000
|
40,525
|
|
Versailles Com Paper LLC (Liquidity Facility Natexis Banques Populaires New York Branch)
|
||||
6/3/24
|
5.42
|
54,000
|
53,495
|
|
6/5/24
|
5.41
|
107,000
|
105,970
|
|
Victory Receivables Corp. (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.)
|
||||
4/12/24
|
5.43
|
132,000
|
131,784
|
|
4/12/24
|
5.43
|
25,000
|
24,959
|
|
4/16/24
|
5.43
|
66,000
|
65,853
|
|
4/19/24
|
5.44
|
6,000
|
5,984
|
|
4/19/24
|
5.44
|
100,000
|
99,732
|
|
4/19/24
|
5.44
|
50,000
|
49,866
|
|
5/10/24
|
5.41
|
53,000
|
52,693
|
|
5/10/24
|
5.42
|
35,000
|
34,797
|
|
5/16/24
|
5.42
|
27,000
|
26,819
|
|
5/17/24
|
5.42
|
106,000
|
105,275
|
|
5/21/24
|
5.42
|
65,000
|
64,517
|
|
5/24/24
|
5.42
|
13,000
|
12,898
|
|
6/25/24
|
5.45
|
41,000
|
40,479
|
|
7/1/24
|
5.46
|
54,000
|
53,266
|
|
7/1/24
|
5.46
|
60,699
|
59,874
|
|
7/2/24
|
5.46
|
35,000
|
34,519
|
|
TOTAL ASSET BACKED COMMERCIAL PAPER
(Cost $2,714,324)
|
2,714,324
|
|||
Non-Financial Company Commercial Paper - 0.5%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
UnitedHealth Group, Inc.
|
||||
4/15/24
|
5.40 to 5.40
|
661,000
|
659,618
|
|
TOTAL NON-FINANCIAL COMPANY COMMERCIAL PAPER
(Cost $659,618)
|
659,618
|
|||
U.S. Treasury Debt - 30.2%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
U.S. Treasury Obligations - 30.2%
|
||||
U.S. Treasury Bills
|
||||
4/2/24 to 9/19/24
|
5.27 to 5.34
|
38,743,391
|
38,473,161
|
|
TOTAL U.S. TREASURY DEBT
(Cost $38,473,161)
|
38,473,161
|
|||
Non-Negotiable Time Deposit - 8.3%
|
||||
Yield (%)(a)
|
Principal
Amount (b)
(000s)
|
Value ($)
(000s)
|
||
Time Deposits - 8.3%
|
||||
Barclays Bank PLC
|
||||
4/1/24
|
5.37
|
2,637,000
|
2,637,000
|
|
Credit Agricole CIB
|
||||
4/1/24
|
5.33
|
187,400
|
187,400
|
|
DNB Bank ASA
|
||||
4/1/24
|
5.32
|
2,693,000
|
2,693,000
|
|
Mizuho Bank Ltd. Canada Branch
|
||||
4/1/24
|
5.33
|
2,653,000
|
2,653,000
|
|
Royal Bank of Canada
|
||||
4/1/24 to 4/2/24
|
5.32 to 5.33
|
2,405,268
|
2,405,268
|
|
TOTAL NON-NEGOTIABLE TIME DEPOSIT
(Cost $10,575,668)
|
10,575,668
|
|||
U.S. Government Agency Repurchase Agreement - 13.3%
|
|||
Maturity
Amount ($)
(000s)
|
Value ($)
(000s)
|
||
In a joint trading account at:
|
|||
5.32% dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations) #
|
87,673
|
87,621
|
|
5.33% dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations) #
|
9,020,644
|
9,015,305
|
|
With:
|
|||
ABN AMRO Bank NV at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $194,935,674, 1.00% - 6.00%, 7/31/28 - 2/1/54)
|
191,113
|
191,000
|
|
BMO Harris Bank NA at 5.34%, dated 2/1/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $95,704,254, 3.00% - 8.00%, 6/20/40 - 3/20/64)
|
93,828
|
93,000
|
|
BNP Paribas, SA at:
|
|||
5.32%, dated 1/17/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $127,882,384, 0.88% - 7.50%, 11/15/30 - 3/1/54)
|
125,668
|
124,000
|
|
5.36%, dated:
|
|||
3/11/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $323,962,898, 0.00% - 7.00%, 10/31/24 - 12/15/58) (c)(d)(f)
|
319,971
|
315,000
|
|
3/13/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $128,895,034, 0.00% - 6.00%, 11/15/30 - 3/1/54) (c)(d)(f)
|
127,970
|
126,000
|
|
BofA Securities, Inc. at 5.34%, dated 2/1/24 due 4/1/24 (Collateralized by Mortgage Loan Obligations valued at $126,576,674, 0.38% - 7.00%, 12/31/25 - 3/20/54)
|
124,095
|
123,000
|
|
CIBC Bank U.S.A. at:
|
|||
5.32%, dated 2/15/24 due 4/2/24 (Collateralized by U.S. Government Obligations valued at $154,998,760, 2.00% - 7.00%, 1/31/28 - 3/1/54)
|
152,049
|
151,000
|
|
5.33%, dated:
|
|||
2/20/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $34,875,114, 2.00% - 7.00%, 7/1/32 - 3/1/54)
|
34,292
|
34,000
|
|
2/21/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $64,612,020, 2.50% - 7.00%, 9/1/38 - 3/1/54)
|
63,532
|
63,000
|
|
3/13/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $308,769,028, 1.50% - 7.00%, 7/1/28 - 3/1/54)
|
303,295
|
302,000
|
|
Citibank NA at 5.34%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $195,869,050, 0.00% - 6.50%, 4/25/24 - 3/15/59)
|
192,199
|
192,000
|
|
Citigroup Global Capital Markets, Inc. at 5.34%, dated:
|
|||
3/4/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $194,518,702, 0.00% - 7.50%, 6/30/28 - 1/20/53)
|
190,874
|
190,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Government Obligations valued at $292,783,451, 0.00% - 5.50%, 7/31/28 - 10/20/52)
|
287,298
|
287,000
|
|
FICC State Street GC (Gov. Repo) at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $260,449,620, 0.38% - 7.50%, 1/31/26 - 12/1/53)
|
255,151
|
255,000
|
|
Goldman Sachs & Co. at:
|
|||
5.33%, dated:
|
|||
3/25/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $389,022,765, 1.63% - 7.00%, 7/15/26 - 1/20/54)
|
381,395
|
381,000
|
|
3/26/24 due 4/2/24 (Collateralized by U.S. Government Obligations valued at $845,310,251, 0.00% - 7.00%, 6/27/24 - 3/1/54)
|
828,858
|
828,000
|
|
3/28/24 due:
|
|||
4/1/24 (Collateralized by U.S. Treasury Obligations valued at $519,487,494, 0.00% - 7.50%, 4/23/24 - 7/15/57)
|
509,301
|
509,000
|
|
4/4/24 (Collateralized by U.S. Government Obligations valued at $456,210,028, 0.00% - 7.00%, 6/1/25 - 3/1/54)
|
447,463
|
447,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $1,425,996,831, 0.00% - 6.50%, 6/30/25 - 8/20/53)
|
1,398,451
|
1,397,000
|
|
RBC Dominion Securities at 5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Government Obligations valued at $259,277,732, 0.00% - 8.00%, 5/1/25 - 2/1/54)
|
254,264
|
254,000
|
|
RBC Financial Group at 5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $1,371,268,615, 0.00% - 7.50%, 4/9/24 - 3/20/54)
|
1,346,137
|
1,339,000
|
|
TD Securities (U.S.A.) at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Government Obligations valued at $220,352,681, 2.00% - 6.50%, 6/1/50 - 10/1/53)
|
216,128
|
216,000
|
|
TOTAL U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENT
(Cost $16,919,926)
|
16,919,926
|
||
U.S. Treasury Repurchase Agreement - 14.5%
|
|||
Maturity
Amount ($)
(000s)
|
Value ($)
(000s)
|
||
With:
|
|||
ABN AMRO Bank NV at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $175,543,912, 0.38% - 1.25%, 11/30/26 - 7/31/28)
|
172,102
|
172,000
|
|
Barclays Bank PLC at:
|
|||
5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $351,952,018, 0.00% - 4.38%, 9/19/24 - 11/30/30)
|
345,204
|
345,000
|
|
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $408,483,335, 1.00% - 2.38%, 8/15/26 - 8/15/31)
|
402,487
|
400,000
|
|
BMO Capital Markets Corp. at 5.32%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $58,287,052, 0.00% - 4.88%, 8/8/24 - 2/15/54)
|
57,059
|
57,000
|
|
BMO Harris Bank NA at:
|
|||
5.31%, dated 3/25/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $57,179,060, 0.00% - 3.75%, 8/8/24 - 6/30/30)
|
56,058
|
56,000
|
|
5.32%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $58,174,465, 0.00% - 3.75%, 7/31/24 - 6/30/30)
|
57,059
|
57,000
|
|
BNP Paribas, SA at:
|
|||
5.36%, dated:
|
|||
2/29/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $585,361,974, 0.88% - 5.47%, 10/31/24 - 2/15/54) (c)(d)(f)
|
580,012
|
571,000
|
|
3/1/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $466,239,099, 0.88% - 5.47%, 10/31/24 - 8/15/53) (c)(d)(f)
|
462,587
|
455,000
|
|
3/8/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $174,045,084, 0.88% - 5.44%, 7/31/24 - 11/15/50) (c)(d)(f)
|
172,734
|
170,000
|
|
3/11/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $814,142,144, 0.88% - 5.44%, 10/31/24 - 11/15/53) (c)(d)(f)
|
806,531
|
794,000
|
|
5.37%, dated:
|
|||
2/14/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $931,984,863, 0.00% - 5.47%, 4/18/24 - 2/15/54) (c)(d)(f)
|
920,316
|
904,000
|
|
2/16/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $232,062,447, 0.50% - 5.50%, 10/31/24 - 11/15/53) (c)(d)(f)
|
230,113
|
226,000
|
|
2/20/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $232,951,880, 0.38% - 5.50%, 7/31/24 - 2/15/54) (c)(d)(f)
|
231,233
|
227,000
|
|
BofA Securities, Inc. at:
|
|||
5.33%, dated 2/5/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $56,565,170, 0.38% - 4.38%, 12/31/25 - 2/15/44)
|
55,741
|
55,000
|
|
5.34%, dated 2/29/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $57,391,162, 0.38% - 4.75%, 12/31/25 - 11/15/43)
|
56,748
|
56,000
|
|
CIBC Bank U.S.A. at 5.32%, dated:
|
|||
3/21/24 due 4/4/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $75,569,320, 0.38% - 4.00%, 6/15/25 - 11/15/46)
|
74,273
|
74,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $116,417,607, 1.13% - 4.88%, 2/28/25 - 2/15/54)
|
114,236
|
114,000
|
|
3/27/24 due 4/4/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $40,812,085, 0.38% - 3.88%, 1/15/26 - 11/15/41)
|
40,213
|
40,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $76,526,232, 0.38% - 4.75%, 2/28/26 - 8/15/53)
|
75,366
|
75,000
|
|
Credit AG at 5.32%, dated 3/25/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $87,771,875, 1.25%, 9/30/28)
|
86,394
|
86,000
|
|
Federal Reserve Bank of New York at 5.3%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $2,378,399,826, 0.38% - 4.25%, 4/15/24 - 11/15/41)
|
2,378,400
|
2,377,000
|
|
FICC ACAFB Repo Program at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $356,943,012, 3.88% - 4.50%, 7/15/26 - 11/15/52)
|
345,204
|
345,000
|
|
Ficc Citi Gc Repo (GOV REPO) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $117,317,402, 0.00% - 6.13%, 4/2/24 - 11/15/47)
|
115,068
|
115,000
|
|
Ficc Nomura Gc Repo (GOV REPO) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $703,904,299, 0.00%, 4/2/24)
|
690,409
|
690,000
|
|
Fixed Income Clearing Corp. - BNP at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $762,392,239, 0.50% - 5.38%, 7/31/24 - 2/15/54)
|
747,443
|
747,000
|
|
Fixed Income Clearing Corp. - BNYM at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $1,297,440,067, 0.25% - 4.25%, 1/15/25 - 2/28/31)
|
1,272,752
|
1,272,000
|
|
Fixed Income Clearing Corp. - SSB at:
|
|||
5.31%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $351,956,819, 2.63% - 3.25%, 5/31/27 - 6/30/27)
|
345,204
|
345,000
|
|
5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $2,931,643,334, 0.63% - 4.00%, 12/31/27 - 4/30/28)
|
2,875,699
|
2,874,000
|
|
5.35%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $233,580,079, 3.88% - 4.50%, 8/15/33 - 11/15/33)
|
229,136
|
229,000
|
|
Fixed Income Clearing Corp.- Morgan Stanley & CO LLC at 5.34%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $175,504,968, 2.75%, 5/31/29)
|
172,102
|
172,000
|
|
Goldman Sachs & Co. at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $201,058,804, 0.00% - 3.38%, 4/23/24 - 5/15/33)
|
197,116
|
197,000
|
|
HSBC Securities, Inc. at 5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $278,542,661, 0.00% - 6.38%, 3/20/25 - 8/15/40)
|
273,283
|
273,000
|
|
ING Financial Markets LLC at 5.33%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $11,221,725, 0.00% - 3.50%, 5/16/24 - 8/15/49)
|
11,011
|
11,000
|
|
Lloyds Bank Corp. Markets PLC at 5.35%, dated 3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $239,070,118, 1.13% - 3.50%, 4/30/28 - 1/31/30)
|
234,243
|
234,000
|
|
Mizuho Bank, Ltd. at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $293,445,578, 1.63%, 5/15/31)
|
287,170
|
287,000
|
|
MUFG Securities (Canada), Ltd. at 5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $58,210,164, 0.25% - 6.50%, 7/31/24 - 2/15/54)
|
57,354
|
57,000
|
|
MUFG Securities EMEA PLC at:
|
|||
5.32%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $177,094,635, 0.75% - 4.00%, 4/30/26 - 11/15/43)
|
171,354
|
171,000
|
|
5.33%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $234,973,213, 0.63% - 4.13%, 9/30/27 - 2/29/28)
|
230,238
|
230,000
|
|
5.34%, dated 3/28/24 due:
|
|||
4/1/24 (Collateralized by U.S. Treasury Obligations valued at $147,026,737, 3.13% - 3.88%, 2/15/43)
|
144,085
|
144,000
|
|
4/4/24 (Collateralized by U.S. Treasury Obligations valued at $116,326,922, 0.75%, 3/31/26)
|
114,118
|
114,000
|
|
Natixis SA at 5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $232,886,093, 0.00% - 5.00%, 5/16/24 - 2/15/54)
|
229,317
|
228,000
|
|
NatWest Markets Securities, Inc. at:
|
|||
5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $57,153,828, 3.13% - 3.88%, 8/15/25 - 11/15/43)
|
56,033
|
56,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $285,813,069, 0.50% - 5.00%, 11/15/24 - 8/15/48)
|
280,291
|
280,000
|
|
RBC Dominion Securities at:
|
|||
5.33%, dated 3/21/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $468,482,123, 0.38% - 5.00%, 6/30/24 - 5/15/52)
|
460,848
|
458,000
|
|
5.34%, dated 3/27/24 due 4/3/24 (Collateralized by U.S. Treasury Obligations valued at $116,366,718, 0.00% - 4.63%, 8/29/24 - 5/15/46)
|
114,118
|
114,000
|
|
SMBC Nikko Securities America, Inc. at 5.32%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $765,113,069, 0.00% - 7.63%, 4/23/24 - 11/15/43)
|
750,443
|
750,000
|
|
Societe Generale at 5.33%, dated:
|
|||
3/26/24 due 4/2/24
|
|||
(Collateralized by U.S. Treasury Obligations valued at $150,446,828, 3.00%, 11/15/44 - 8/15/52)
|
146,151
|
146,000
|
|
(Collateralized by U.S. Treasury Obligations valued at $233,683,787, 1.25% - 4.63%, 5/31/28 - 2/15/40)
|
229,237
|
229,000
|
|
3/28/24 due 4/4/24 (Collateralized by U.S. Treasury Obligations valued at $235,310,314, 0.88% - 3.88%, 11/15/30 - 5/15/49)
|
230,238
|
230,000
|
|
TD Securities (U.S.A.) at 5.33%, dated 3/28/24 due 4/1/24 (Collateralized by U.S. Treasury Obligations valued at $218,312,418, 0.38% - 4.63%, 11/30/24 - 9/15/26)
|
214,127
|
214,000
|
|
TOTAL U.S. TREASURY REPURCHASE AGREEMENT
(Cost $18,523,000)
|
18,523,000
|
||
Other Repurchase Agreement - 4.4%
|
|||
Maturity
Amount ($)
(000s)
|
Value ($)
(000s)
|
||
Other Repurchase Agreement - 4.4%
|
|||
With:
|
|||
BMO Capital Markets Corp. at:
|
|||
5.46%, dated 3/28/24 due 4/1/24 (Collateralized by Corporate Obligations valued at $56,708,935, 1.81% - 7.00%, 3/15/25 - 6/1/50)
|
54,033
|
54,000
|
|
5.52%, dated 3/28/24 due 4/1/24 (Collateralized by Corporate Obligations valued at $58,065,713, 2.96% - 8.00%, 9/15/24 - 9/12/47)
|
54,033
|
54,000
|
|
BNP Paribas Prime Brokerage, Inc. at 5.57%, dated 3/28/24 due 4/1/24 (Collateralized by Equity Securities valued at $405,572,743)
|
375,232
|
375,000
|
|
HSBC Securities, Inc. at 5.55%, dated 3/28/24 due 4/1/24 (Collateralized by Corporate Obligations valued at $29,164,354, 0.00% - 12.75%, 1/23/25 - 12/1/61)
|
27,017
|
27,000
|
|
ING Financial Markets LLC at 5.55%, dated 3/28/24 due 4/1/24 (Collateralized by Equity Securities valued at $231,155,656)
|
214,132
|
214,000
|
|
J.P. Morgan Securities, LLC at:
|
|||
5.54%, dated 2/8/24 due 4/4/24 (Collateralized by Corporate Obligations valued at $291,665,418, 0.00% - 13.38%, 8/8/24 - 6/3/47) (c)(d)(f)
|
271,760
|
268,000
|
|
5.77%, dated:
|
|||
3/15/24 due 6/26/24 (Collateralized by Equity Securities valued at $581,261,368) (c)(d)(f)
|
547,260
|
537,000
|
|
3/26/24 due 6/26/24 (Collateralized by Equity Securities valued at $578,077,827) (c)(d)(f)
|
544,277
|
535,000
|
|
5.82%, dated 3/11/24 due 6/26/24 (Collateralized by Corporate Obligations valued at $752,872,009, 0.00% - 7.75%, 6/15/24 - 6/1/42) (c)(d)(f)
|
710,545
|
697,000
|
|
5.84%, dated 3/11/24 due 6/26/24 (Collateralized by Corporate Obligations valued at $423,332,416, 0.10% - 9.41%, 11/21/25 - 10/25/66) (c)(d)(f)
|
409,839
|
402,000
|
|
Mitsubishi UFJ Securities (U.S.A.), Inc. at:
|
|||
5.55%, dated 3/28/24 due 4/1/24 (Collateralized by Equity Securities valued at $72,371,163)
|
67,041
|
67,000
|
|
5.84%, dated 3/28/24 due 4/1/24 (Collateralized by Equity Securities valued at $10,771,758)
|
10,006
|
10,000
|
|
Mizuho Securities U.S.A., Inc. at:
|
|||
5.59%, dated 3/28/24 due 4/1/24 (Collateralized by Equity Securities valued at $104,776,291)
|
97,060
|
97,000
|
|
5.82%, dated 3/11/24 due 5/10/24 (Collateralized by Corporate Obligations valued at $367,557,480, 1.00% - 11.08%, 4/15/27 - 12/31/79) (c)(d)(f)
|
352,391
|
349,000
|
|
Morgan Stanley & Co., Inc. at:
|
|||
5.77%, dated:
|
|||
3/8/24 due 5/8/24 (Collateralized by U.S. Treasury Obligations valued at $274,326,486, 0.00% - 7.25%, 5/23/24 - 2/15/44) (c)(d)(f)
|
269,162
|
268,000
|
|
3/15/24 due 5/14/24 (Collateralized by U.S. Treasury Obligations valued at $411,211,205, 0.00% - 7.25%, 6/13/24 - 1/1/49) (c)(d)(f)
|
403,291
|
402,000
|
|
5.82%, dated 3/8/24 due 5/8/24 (Collateralized by U.S. Treasury Obligations valued at $274,334,782, 0.00% - 12.88%, 4/30/24 - 11/15/43) (c)(d)(f)
|
269,172
|
268,000
|
|
NatWest Markets Securities, Inc. at 5.57%, dated 3/28/24 due 4/1/24 (Collateralized by Corporate Obligations valued at $56,734,343, 1.20% - 6.26%, 7/8/24 - 2/15/54)
|
54,033
|
54,000
|
|
RBC Capital Markets Co. at 5.82%, dated 3/13/24 due 5/13/24 (Collateralized by Corporate Obligations valued at $112,640,613, 1.16% - 11.23%, 11/16/26 - 1/15/53) (c)(d)(f)
|
108,057
|
107,000
|
|
Td Securities (U.S.A.) (NON GOV) at 5.47%, dated 3/28/24 due 4/1/24 (Collateralized by Corporate Obligations valued at $281,442,888, 2.60% - 8.40%, 6/10/24 - 4/1/64)
|
268,163
|
268,000
|
|
Wells Fargo Securities, LLC at:
|
|||
5.48%, dated 3/28/24 due 4/1/24 (Collateralized by Commercial Paper valued at $301,711,015, 0.00% - 7.50%, 4/3/24 - 1/25/34)
|
294,179
|
294,000
|
|
5.78%, dated 3/15/24 due 6/12/24 (Collateralized by Corporate Obligations valued at $168,496,777, 0.00% - 8.13%, 4/4/24 - 8/15/62) (c)(d)(f)
|
163,301
|
161,000
|
|
5.87%, dated 1/19/24 due 4/18/24 (Collateralized by Corporate Obligations valued at $59,013,394, 0.00% - 7.00%, 4/1/24 - 02/15/32)
|
54,792
|
54,000
|
|
TOTAL OTHER REPURCHASE AGREEMENT
(Cost $5,562,000)
|
5,562,000
|
||
TOTAL INVESTMENT IN SECURITIES - 101.0%
(Cost $128,675,869)
|
128,675,869
|
NET OTHER ASSETS (LIABILITIES) - (1.0)%
|
(1,276,781)
|
NET ASSETS - 100.0%
|
127,399,088
|
(a)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(b)
|
Amount is stated in United States dollars unless otherwise noted.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(d)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
(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 $1,263,393,000 or 1.0% of net assets.
|
(f)
|
The maturity amount is based on the rate at period end.
|
Other Information
|
||
# Additional information on each counterparty to the repurchase agreement is as follows:
|
||
Repurchase Agreement / Counterparty
|
Value ($)
(000's)
|
|
$87,621,000 due 4/01/24 at 5.32%
|
||
Citigroup Global Markets, Inc.
|
569
|
|
Credit Agricole CIB New York Branch
|
23,364
|
|
HSBC Securities (USA), Inc.
|
103
|
|
ING Financial Markets LLC
|
16,609
|
|
JP Morgan Securities LLC
|
43,550
|
|
Mitsubishi UFJ Securities Holdings Ltd
|
524
|
|
Mizuho Securities USA, Inc.
|
420
|
|
Nomura Securities International
|
797
|
|
RBC Dominion Securities, Inc.
|
1,685
|
|
87,621
|
||
$9,015,305,000 due 4/01/24 at 5.33%
|
||
BNY Mellon Capital Markets LLC
|
159,779
|
|
Bank of America, N.A.
|
458,683
|
|
Bank of Nova Scotia
|
135,283
|
|
BofA Securities, Inc.
|
8,046
|
|
Citigroup Global Markets, Inc.
|
640,283
|
|
Credit Agricole CIB New York Branch
|
467,868
|
|
HSBC Securities (USA), Inc.
|
395,551
|
|
ING Financial Markets LLC
|
191,387
|
|
JP Morgan Securities LLC
|
686,828
|
|
Mitsubishi UFJ Securities Holdings Ltd
|
293,048
|
|
Mizuho Securities USA, Inc.
|
318,530
|
|
Nomura Securities International
|
543,641
|
|
RBC Dominion Securities, Inc.
|
1,657,924
|
|
Royal Bank of Canada
|
91,952
|
|
Societe Generale
|
123,561
|
|
Sumitomo Mitsui Banking Corp.
|
2,258,750
|
|
Sumitomo Mitsui Banking Corp. NY
|
329,367
|
|
Wells Fargo Securities LLC
|
254,824
|
|
9,015,305
|
Statement of Assets and Liabilities
|
||||
Amounts in thousands (except per-share amounts)
|
March 31, 2024
|
|||
Assets
|
||||
Investment in securities, at value (including repurchase agreements of $41,004,926) - See accompanying schedule
Unaffiliated issuers (cost $128,675,869):
|
$
|
128,675,869
|
||
Cash
|
627,588
|
|||
Receivable for fund shares sold
|
364,926
|
|||
Interest receivable
|
146,384
|
|||
Receivable for interfund loans
|
71,604
|
|||
Prepaid expenses
|
46
|
|||
Receivable from investment adviser for expense reductions
|
3,250
|
|||
Other affiliated receivables
|
11
|
|||
Other receivables
|
1,093
|
|||
Total assets
|
129,890,771
|
|||
Liabilities
|
||||
Payable for investments purchased
|
$
|
2,201,604
|
||
Payable for fund shares redeemed
|
264,466
|
|||
Distributions payable
|
256
|
|||
Accrued management fee
|
14,707
|
|||
Distribution and service plan fees payable
|
17
|
|||
Other affiliated payables
|
4,821
|
|||
Other payables and accrued expenses
|
5,812
|
|||
Total liabilities
|
2,491,683
|
|||
Net Assets
|
$
|
127,399,088
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
127,398,604
|
||
Total accumulated earnings (loss)
|
484
|
|||
Net Assets
|
$
|
127,399,088
|
||
Net Asset Value and Maximum Offering Price
|
||||
Class I :
|
||||
Net Asset Value, offering price and redemption price per share ($55,980,005 ÷ 55,972,182 shares)
|
$
|
1.00
|
||
Class II :
|
||||
Net Asset Value, offering price and redemption price per share ($85,590 ÷ 85,585 shares)
|
$
|
1.00
|
||
Class III :
|
||||
Net Asset Value, offering price and redemption price per share ($18,091 ÷ 18,097 shares)
|
$
|
1.00
|
||
Select Class :
|
||||
Net Asset Value, offering price and redemption price per share ($52,831 ÷ 52,827 shares)
|
$
|
1.00
|
||
Institutional Class :
|
||||
Net Asset Value, offering price and redemption price per share ($71,262,571 ÷ 71,248,757 shares)
|
$
|
1.00
|
Statement of Operations
|
||||
Amounts in thousands
|
Year ended
March 31, 2024
|
|||
Investment Income
|
||||
Interest (including $2,071 from affiliated interfund lending)
|
$
|
6,023,475
|
||
Expenses
|
||||
Management fee
|
$
|
156,255
|
||
Transfer agent fees
|
48,183
|
|||
Distribution and service plan fees
|
204
|
|||
Accounting fees and expenses
|
3,080
|
|||
Custodian fees and expenses
|
487
|
|||
Independent trustees' fees and expenses
|
349
|
|||
Registration fees
|
6,803
|
|||
Audit
|
55
|
|||
Legal
|
67
|
|||
Miscellaneous
|
696
|
|||
Total expenses before reductions
|
216,179
|
|||
Expense reductions
|
(39,421)
|
|||
Total expenses after reductions
|
176,758
|
|||
Net Investment income (loss)
|
5,846,717
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
(16)
|
|||
Total net realized gain (loss)
|
(16)
|
|||
Net increase in net assets resulting from operations
|
$
|
5,846,701
|
Statement of Changes in Net Assets
|
||||
Amount in thousands
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
5,846,717
|
$
|
2,148,507
|
Net realized gain (loss)
|
(16)
|
6
|
||
Net increase in net assets resulting from operations
|
5,846,701
|
2,148,513
|
||
Distributions to shareholders
|
(5,846,436)
|
(2,148,294)
|
||
Share transactions - net increase (decrease)
|
29,869,128
|
58,562,981
|
||
Total increase (decrease) in net assets
|
29,869,393
|
58,563,200
|
||
Net Assets
|
||||
Beginning of period
|
97,529,695
|
38,966,495
|
||
End of period
|
$
|
127,399,088
|
$
|
97,529,695
|
Money Market Portfolio Class I |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.052
|
.028
|
- B
|
.002
|
.020
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.052
|
.028
|
- B
|
.002
|
.020
|
|||||
Distributions from net investment income
|
(.052)
|
(.028)
|
- B
|
(.002)
|
(.020)
|
|||||
Total distributions
|
(.052)
|
(.028)
|
- B
|
(.002)
|
(.020)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.33 % |
2.81%
|
.02%
|
.15%
|
2.01%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.21%
|
.21%
|
.21%
|
.21%
|
.21%
|
|||||
Expenses net of fee waivers, if any
|
.18 % |
.18%
|
.16%
|
.18%
|
.18%
|
|||||
Expenses net of all reductions
|
.18%
|
.18%
|
.16%
|
.18%
|
.18%
|
|||||
Net investment income (loss)
|
5.22%
|
3.25%
|
.02%
|
.16%
|
1.96%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
55,980
|
$
|
42,432
|
$
|
16,745
|
$
|
21,937
|
$
|
25,801
|
Money Market Portfolio Class II |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.051
|
.026
|
- B
|
.001
|
.018
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.051
|
.026
|
- B
|
.001
|
.018
|
|||||
Distributions from net investment income
|
(.051)
|
(.026)
|
- B
|
(.001)
|
(.018)
|
|||||
Total distributions
|
(.051)
|
(.026)
|
- B
|
(.001)
|
(.018)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.18 % |
2.65%
|
.01%
|
.09%
|
1.86%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.36%
|
.36%
|
.36%
|
.36%
|
.36%
|
|||||
Expenses net of fee waivers, if any
|
.33 % |
.33%
|
.16%
|
.26%
|
.33%
|
|||||
Expenses net of all reductions
|
.33%
|
.33%
|
.16%
|
.26%
|
.33%
|
|||||
Net investment income (loss)
|
5.07%
|
3.10%
|
.01%
|
.08%
|
1.81%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
86
|
$
|
81
|
$
|
90
|
$
|
179
|
$
|
394
|
Money Market Portfolio Class III |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.050
|
.025
|
- B
|
.001
|
.017
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.050
|
.025
|
- B
|
.001
|
.017
|
|||||
Distributions from net investment income
|
(.050)
|
(.025)
|
- B
|
(.001)
|
(.017)
|
|||||
Total distributions
|
(.050)
|
(.025)
|
- B
|
(.001)
|
(.017)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.07 % |
2.55%
|
.01%
|
.06%
|
1.76%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.46%
|
.46%
|
.46%
|
.46%
|
.46%
|
|||||
Expenses net of fee waivers, if any
|
.43 % |
.43%
|
.17%
|
.27%
|
.43%
|
|||||
Expenses net of all reductions
|
.43%
|
.43%
|
.17%
|
.27%
|
.43%
|
|||||
Net investment income (loss)
|
4.97%
|
3.00%
|
.01%
|
.07%
|
1.71%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
18
|
$
|
31
|
$
|
9
|
$
|
13
|
$
|
13
|
Money Market Portfolio Select Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.052
|
.027
|
- B
|
.001
|
.019
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.052
|
.027
|
- B
|
.001
|
.019
|
|||||
Distributions from net investment income
|
(.052)
|
(.027)
|
- B
|
(.001)
|
(.019)
|
|||||
Total distributions
|
(.052)
|
(.027)
|
- B
|
(.001)
|
(.019)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.28 % |
2.76%
|
.02%
|
.12%
|
1.96%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.26%
|
.26%
|
.26%
|
.26%
|
.26%
|
|||||
Expenses net of fee waivers, if any
|
.23 % |
.23%
|
.16%
|
.21%
|
.23%
|
|||||
Expenses net of all reductions
|
.23%
|
.23%
|
.16%
|
.21%
|
.23%
|
|||||
Net investment income (loss)
|
5.17%
|
3.20%
|
.02%
|
.13%
|
1.91%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
53
|
$
|
40
|
$
|
15
|
$
|
26
|
$
|
59
|
Money Market Portfolio Institutional Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.052
|
.028
|
- B
|
.002
|
.020
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.052
|
.028
|
- B
|
.002
|
.020
|
|||||
Distributions from net investment income
|
(.052)
|
(.028)
|
- B
|
(.002)
|
(.020)
|
|||||
Total distributions
|
(.052)
|
(.028)
|
- B
|
(.002)
|
(.020)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
5.38 % |
2.85%
|
.04%
|
.19%
|
2.05%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.18%
|
.18%
|
.18%
|
.18%
|
.18%
|
|||||
Expenses net of fee waivers, if any
|
.14 % |
.14%
|
.14%
|
.14%
|
.14%
|
|||||
Expenses net of all reductions
|
.14%
|
.14%
|
.14%
|
.14%
|
.14%
|
|||||
Net investment income (loss)
|
5.26%
|
3.29%
|
.04%
|
.20%
|
2.00%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
71,263
|
$
|
54,946
|
$
|
22,108
|
$
|
28,837
|
$
|
35,852
|
Current 7-Day Yields
|
||
Class I
|
3.36%
|
|
Class II
|
3.21%
|
|
Class III
|
3.11%
|
|
Select Class
|
3.31%
|
|
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. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending March 31, 2024, the most recent period shown in the table, would have been 3.31% for Class I, 3.16% for Class II, 3.06% for Class III, and 3.26% for Select Class.
|
Effective Maturity Diversification (% of Fund's Investments)
|
||
Days
|
||
1 - 7
|
82.3
|
|
8 - 30
|
2.0
|
|
31 - 60
|
3.0
|
|
61 - 90
|
5.3
|
|
91 - 180
|
5.0
|
|
> 180
|
2.4
|
|
Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940.
|
Asset Allocation (% of Fund's net assets)
|
Variable Rate Demand Note - 48.8%
|
|||
Principal
Amount (a)
(000s)
|
Value ($)
(000s)
|
||
Alabama - 0.7%
|
|||
Mobile Downtown Redev. Auth. Gulf Opportunity Zone:
|
|||
Series 2011 A, 3.44% 4/4/24, LOC Bank of America NA, VRDN (b)(c)
|
17,860
|
17,860
|
|
Series 2011 B, 3.44% 4/4/24, LOC Bank of America NA, VRDN (b)(c)
|
39,870
|
39,870
|
|
TOTAL ALABAMA
|
57,730
|
||
Alaska - 0.4%
|
|||
Valdez Marine Term. Rev. (Phillips Trans. Alaska, Inc. Proj.) Series 1994 B, 3.75% 4/4/24 (ConocoPhillips Co. Guaranteed), VRDN (c)
|
35,250
|
35,250
|
|
Arizona - 0.8%
|
|||
Maricopa County Poll. Cont. Rev.:
|
|||
(Arizona Pub. Svc. Co. Palo Verde Proj.) Series 2009 A, 3.65% 4/4/24, VRDN (c)
|
13,900
|
13,900
|
|
Series 2009 B, 3.65% 4/4/24, VRDN (c)
|
14,500
|
14,500
|
|
Maricopa County Rev. Series 2023 B, 3.45% 4/4/24, VRDN (c)
|
43,840
|
43,840
|
|
TOTAL ARIZONA
|
72,240
|
||
Colorado - 1.4%
|
|||
Colorado Edl. & Cultural Facilities Auth. Rev. (Clyfford Still Museum Proj.) Series 2008, 3.6% 4/4/24, LOC Wells Fargo Bank NA, VRDN (c)
|
690
|
690
|
|
Colorado Health Facilities Auth. Rev. Bonds:
|
|||
Series 2020 B, 3.5% 4/4/24, LOC The Toronto-Dominion Bank, VRDN (c)
|
15,260
|
15,260
|
|
Series 2022 F, 3.4% 4/4/24, VRDN (c)
|
75,300
|
75,300
|
|
Colorado Univ. Co. Hosp. Auth. Rev.:
|
|||
Series 2017 B1, 3.65% 4/4/24, VRDN (c)
|
17,815
|
17,815
|
|
Series 2017 B2, 3.4% 4/4/24, VRDN (c)
|
2,530
|
2,530
|
|
Series 2018 B, 3.65% 4/4/24, VRDN (c)
|
3,000
|
3,000
|
|
Mesa County Econ. Dev. Rev. (Leitner-Poma of America, Inc. Proj.) Series 2009, 3.6% 4/4/24, LOC Wells Fargo Bank NA, VRDN (c)
|
2,685
|
2,685
|
|
TOTAL COLORADO
|
117,280
|
||
Connecticut - 2.8%
|
|||
Connecticut Gen. Oblig. Series 2016 C, 3.51% 4/4/24 (Liquidity Facility Bank of America NA), VRDN (c)
|
101,125
|
101,125
|
|
Connecticut Health & Edl. Facilities Auth. Rev.:
|
|||
(Gaylord Hosp. Proj.) Series B, 3.4% 4/4/24, LOC Bank of America NA, VRDN (c)
|
7,500
|
7,500
|
|
Series 2013 O, 3.45% 4/4/24, VRDN (c)
|
35,460
|
35,460
|
|
Series 2014 C, 3.45% 4/4/24, VRDN (c)
|
10,315
|
10,315
|
|
Connecticut Hsg. Fin. Auth.:
|
|||
(Hsg. Mtg. Fin. Prog.) Series 2018 C, 3.45% 4/4/24 (Liquidity Facility TD Banknorth, NA), VRDN (c)
|
4,085
|
4,085
|
|
(Mtg. Fin. Prog.) Series C3, 3.42% 4/4/24 (Liquidity Facility Royal Bank of Canada), VRDN (c)
|
13,335
|
13,335
|
|
Series 2012 C2, 3.45% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
5,300
|
5,300
|
|
Series 2013 B6, 3.45% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
12,400
|
12,400
|
|
Series 2018 A3, 3.43% 4/4/24 (Liquidity Facility Bank of America NA), VRDN (c)
|
2,100
|
2,100
|
|
Series 2018 E2, 3.43% 4/4/24 (Liquidity Facility Bank of America NA), VRDN (c)
|
28,925
|
28,925
|
|
Series 2022 E2, 3.43% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
7,900
|
7,900
|
|
Connecticut Innovations, Inc. Rev. (ISO New England, Inc. Proj.) Series 2012, 3.45% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
13,380
|
13,380
|
|
TOTAL CONNECTICUT
|
241,825
|
||
Delaware - 0.3%
|
|||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.):
|
|||
Series 1993 C, 3.84% 4/4/24, VRDN (c)
|
9,500
|
9,500
|
|
Series 1999 A, 3.95% 4/4/24, VRDN (c)
|
18,830
|
18,830
|
|
TOTAL DELAWARE
|
28,330
|
||
District Of Columbia - 0.2%
|
|||
District of Columbia Rev.:
|
|||
(The AARP Foundation Proj.) Series 2004, 3.52% 4/4/24, LOC Bank of America NA, VRDN (c)
|
15,315
|
15,315
|
|
(The Pew Charitable Trust Proj.) Series 2008 A, 3.45% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
3,595
|
3,595
|
|
TOTAL DISTRICT OF COLUMBIA
|
18,910
|
||
Florida - 2.1%
|
|||
Escambia County Solid Waste Disp. Rev. (Gulf Pwr. Co. Proj.) Series 2009, 3.8% 4/4/24, VRDN (c)
|
10,000
|
10,000
|
|
Highlands County Health Facilities Auth. Rev.:
|
|||
(Adventist Health Sys./Sunbelt, Inc. Prog.) Series 2007 A1, 3.4% 4/4/24, VRDN (c)
|
23,260
|
23,260
|
|
Series 2021 D:
|
|||
3.42% 4/4/24, VRDN (c)
|
28,450
|
28,450
|
|
3.5% 4/4/24, VRDN (c)
|
50,550
|
50,550
|
|
Jacksonville Poll. Cont. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 1995, 3.83% 4/4/24, VRDN (c)
|
16,400
|
16,400
|
|
Martin County Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2022, 3.55% 4/4/24, VRDN (c)
|
27,300
|
27,300
|
|
Mississippi Bus. Fin. Corp. Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2014, 3.83% 4/4/24, VRDN (c)
|
6,000
|
6,000
|
|
Orange County Health Facilities Auth. Rev. (Orlando Reg'l. Health Care Sys. Proj.) Series 2008 E, 3.65% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
6,000
|
6,000
|
|
Palm Beach County Rev. (Raymond F. Kravis Ctr. Proj.) Series 2002, 3.53% 4/4/24, LOC Northern Trust Co., VRDN (c)
|
14,235
|
14,235
|
|
Pinellas County Health Facilities Auth. Rev. (Suncoast Hospice Proj.) Series 2004, 3.55% 4/4/24, LOC Wells Fargo Bank NA, VRDN (c)
|
975
|
975
|
|
TOTAL FLORIDA
|
183,170
|
||
Georgia - 1.5%
|
|||
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.):
|
|||
First Series 2009, 4.2% 3/29/24, VRDN (c)
|
20,760
|
20,760
|
|
Series 2018, 4.45% 3/29/24, VRDN (c)
|
14,490
|
14,490
|
|
Coweta County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Yates Proj.) Series 2006, 4.35% 3/29/24, VRDN (c)
|
8,000
|
8,000
|
|
Effingham County Indl. Dev. Auth. Poll Cont. Series 2003, 4.36% 3/29/24, VRDN (c)
|
13,700
|
13,700
|
|
Georgia Muni. Elec. Auth. Pwr. Rev. (Proj. One) Series 2008 B, 3.7% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
4,805
|
4,805
|
|
Monroe County Dev. Auth. Poll. Cont. Rev.:
|
|||
(Georgia Pwr. Co. Plant Scherer Proj.):
|
|||
Series 1997, 4.35% 3/29/24, VRDN (c)
|
9,300
|
9,300
|
|
Series 2008, 4.35% 3/29/24, VRDN (c)
|
44,600
|
44,600
|
|
(Gulf Pwr. Co. Plant Scherer Proj.) Series 2010, 3.6% 4/4/24, VRDN (c)
|
3,500
|
3,500
|
|
Series 2002 V1, 3.55% 4/4/24, VRDN (c)
|
5,600
|
5,600
|
|
TOTAL GEORGIA
|
124,755
|
||
Hawaii - 0.1%
|
|||
FHLMC Hawaii State Hsg. Fin. & Dev. Corp. Rev. (Lokahi Kau Apts. Proj.) Series 2008, 3.43% 4/4/24, LOC Freddie Mac, VRDN (c)
|
6,240
|
6,240
|
|
Illinois - 2.1%
|
|||
Illinois Dev. Fin. Auth. Rev. (Glenwood School for Boys Proj.) Series 1998, 3.68% 4/4/24, LOC Northern Trust Co., VRDN (c)
|
4,600
|
4,600
|
|
Illinois Fin. Auth.:
|
|||
Series 2021 C, 3.65% 4/4/24, LOC Barclays Bank PLC, VRDN (c)
|
13,350
|
13,350
|
|
Series 2021 D, 3.55% 4/4/24, VRDN (c)
|
48,300
|
48,300
|
|
Illinois Fin. Auth. Rev.:
|
|||
(Chicago Symphony Orchestra Proj.) Series 2008, 3.45% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
15,100
|
15,100
|
|
(Little Co. of Mary Hosp. Proj.):
|
|||
Series 2008 A, 3.45% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
23,450
|
23,450
|
|
Series 2008 B, 3.45% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
15,425
|
15,425
|
|
(Richard H. Driehaus Museum Proj.) Series 2005, 3.75% 4/4/24, LOC Northern Trust Co., VRDN (c)
|
3,800
|
3,800
|
|
Series 2009 E2, 3.47% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
5,000
|
5,000
|
|
Series 2011 B, 3.45% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
24,260
|
24,260
|
|
FHLMC Lake County Multi-family Hsg. Rev. (Whispering Oaks Apts. Proj.) Series 2008, 3.44% 4/4/24, LOC Freddie Mac, VRDN (c)
|
25,750
|
25,750
|
|
TOTAL ILLINOIS
|
179,035
|
||
Indiana - 2.8%
|
|||
Indiana Dev. Fin. Auth. Econ. (Archer-Daniels-Midland Co. Proj.) Series 2012, 3.83% 4/4/24, VRDN (c)
|
19,640
|
19,640
|
|
Indiana Dev. Fin. Auth. Envir. Rev.:
|
|||
(Duke Energy Indiana, Inc. Proj.) Series 2009 A3, 3.69% 4/4/24, LOC Mizuho Bank Ltd., VRDN (c)
|
14,870
|
14,870
|
|
Series 2005, 3.75% 4/4/24, LOC Rabobank Nederland New York Branch, VRDN (c)
|
11,500
|
11,500
|
|
Indiana Fin. Auth. Health Sys. Rev. (Sisters of Saint Francis Health Svcs., Inc. Obligated Group Proj.) Series 2008 F, 3.43% 4/4/24, LOC Barclays Bank PLC, VRDN (c)
|
16,400
|
16,400
|
|
Indiana Fin. Auth. Hosp. Rev. (Parkview Health Sys. Oblig. Group Proj.):
|
|||
Series 2009 B, 3.5% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
11,100
|
11,100
|
|
Series 2009 C, 3.7% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
33,600
|
33,600
|
|
Indiana Fin. Auth. Rev.:
|
|||
(Ascension Health Proj.):
|
|||
Series 2008 E4, 3.6% 4/4/24, VRDN (c)
|
19,385
|
19,385
|
|
Series 2008 E8, 3.59% 4/4/24, VRDN (c)
|
11,000
|
11,000
|
|
(Ascension Health Subordinate Cr. Proj.) Series 2008 E5, 3.6% 4/4/24, VRDN (c)
|
38,190
|
38,190
|
|
(Trinity Health Cr. Group Proj.) Series 2008 D1, 3.49% 4/4/24, VRDN (c)
|
13,920
|
13,920
|
|
Series 2008 E7, 3.48% 4/4/24, VRDN (c)
|
35,975
|
35,975
|
|
Indiana Health Facility Fing. Auth. Rev. Series 2003 E6, 3.6% 4/4/24, VRDN (c)
|
15,195
|
15,195
|
|
TOTAL INDIANA
|
240,775
|
||
Iowa - 1.7%
|
|||
Council Bluffs Poll. Cont. Series 1995, 3.75% 4/4/24, VRDN (c)
|
3,800
|
3,800
|
|
Iowa Fin. Auth. Econ. Dev. Rev.:
|
|||
Series 2009 A, 3.48% 4/4/24, VRDN (c)
|
19,300
|
19,300
|
|
Series 2011 A, 3.48% 4/4/24, VRDN (c)
|
30,100
|
30,100
|
|
Iowa Fin. Auth. Midwestern Disaster Area Econ. Dev. Series 2012 A, 3.48% 4/4/24, VRDN (c)
|
13,800
|
13,800
|
|
Iowa Fin. Auth. Midwestern Disaster Area Rev.:
|
|||
(ADM Proj.) Series 2011, 3.8% 4/4/24, VRDN (c)
|
18,900
|
18,900
|
|
(Archer-Daniels-Midland Co. Proj.) Series 2012, 3.84% 4/4/24, VRDN (c)
|
36,920
|
36,920
|
|
Iowa Fin. Auth. Poll. Cont. Facility Rev. (Midamerican Energy Proj.) Series 2016 A, 3.69% 4/4/24, VRDN (c)
|
8,115
|
8,115
|
|
Iowa Fin. Auth. Rev. Series 2018 C, 3.5% 4/4/24, LOC JPMorgan Chase Bank, VRDN (c)
|
12,465
|
12,465
|
|
TOTAL IOWA
|
143,400
|
||
Kansas - 0.6%
|
|||
Cygne Poll. Cont. Rev. (Kansas Gas and Elec. Co. Proj.) Series 1994 B, 3.85% 4/4/24, VRDN (c)
|
1,300
|
1,300
|
|
Burlington Envir. Impt. Rev. (Kansas City Pwr. and Lt. Co. Proj.):
|
|||
Series 2007 A, 3.9% 4/4/24, VRDN (c)
|
7,600
|
7,600
|
|
Series 2007 B, 3.9% 4/4/24, VRDN (c)
|
12,500
|
12,500
|
|
St. Mary's Kansas Poll. Cont. Rev.:
|
|||
(Kansas Gas and Elec. Co. Proj.) Series 1994, 3.85% 4/4/24, VRDN (c)
|
3,000
|
3,000
|
|
Series 1994, 3.85% 4/4/24, VRDN (c)
|
13,300
|
13,300
|
|
Wamego Kansas Poll. Cont. Rfdg. Rev.:
|
|||
(Kansas Gas & Elec. Co. Proj.) Series 1994, 3.85% 4/4/24, VRDN (c)
|
3,500
|
3,500
|
|
(Western Resources, Inc. Proj.) Series 1994, 3.85% 4/4/24, VRDN (c)
|
9,500
|
9,500
|
|
TOTAL KANSAS
|
50,700
|
||
Kentucky - 0.2%
|
|||
Kentucky Econ. Dev. Fin. Auth. Hosp. Rev. (St. Elizabeth Med. Ctr., Inc. Proj.) Series 2009 B, 3.65% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
7,000
|
7,000
|
|
Louisville & Jefferson County Series 2013 C, 3.7% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
7,575
|
7,575
|
|
TOTAL KENTUCKY
|
14,575
|
||
Louisiana - 1.4%
|
|||
Louisiana Offshore Term. Auth. Deepwater Port Rev. (LOOP LLC Proj.) Series 2013 B, 3.55% 4/4/24, LOC JPMorgan Chase Bank, VRDN (c)
|
7,340
|
7,340
|
|
Louisiana Pub. Facilities Auth. Rev. (Christus Health Proj.):
|
|||
Series 2008 B, 3.45% 4/4/24, VRDN (c)
|
18,400
|
18,400
|
|
Series 2009 B1, 3.55% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
12,000
|
12,000
|
|
Series 2009 B3, 3.55% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
13,200
|
13,200
|
|
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.):
|
|||
Series 2010 A1, 4.01% 4/4/24, VRDN (c)
|
56,500
|
56,500
|
|
Series 2010 B1, 3.9% 4/4/24, VRDN (c)
|
3,785
|
3,785
|
|
FHLMC Louisiana Pub. Facilities Auth. Rev. (River View Villas Proj.) Series 2006, 3.46% 4/4/24, LOC Freddie Mac, VRDN (c)
|
6,500
|
6,500
|
|
TOTAL LOUISIANA
|
117,725
|
||
Massachusetts - 0.1%
|
|||
Massachusetts Dept. of Trans. Metropolitan Hwy. Sys. Rev. Series 2022 A1, 3.45% 4/4/24 (Liquidity Facility TD Banknorth, NA), VRDN (c)
|
7,900
|
7,900
|
|
Michigan - 1.4%
|
|||
Central Michigan Univ. Rev. Series 2008 A, 3.45% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
9,300
|
9,300
|
|
Grand Traverse County Hosp. Fin. Auth. Series 2011 B, 3.39% 4/4/24, LOC JPMorgan Chase Bank, VRDN (c)
|
14,765
|
14,765
|
|
Grand Valley Michigan State Univ. Rev. Series 2008 B, 3.45% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
17,425
|
17,425
|
|
Kent Hosp. Fin. Auth. Hosp. Facilities Rev. (Spectrum Health Sys. Proj.) Series 2008 B3, 3.65% 4/4/24 (Liquidity Facility Wells Fargo Bank NA), VRDN (c)
|
17,010
|
17,010
|
|
Michigan State Hsg. Dev. Auth. Series 2022 B, 3.64% 4/4/24, LOC Bank of America NA, VRDN (c)
|
44,170
|
44,170
|
|
Michigan Strategic Fund Ltd. Oblig. Rev. (The Kroger Co. Recovery Zone Facilities Bond Proj.) Series 2010, 3.49% 4/4/24, LOC Bank of Nova Scotia, VRDN (c)
|
7,660
|
7,660
|
|
Univ. of Michigan Rev. Series 2008 B, 3.39% 4/4/24, VRDN (c)
|
1,080
|
1,080
|
|
FHLMC Livonia Econ. Dev. Corp. (Madonna Univ. Proj.) Series 2009, 3.47% 4/4/24, LOC Fed. Home Ln. Bank Chicago, VRDN (c)
|
9,130
|
9,130
|
|
TOTAL MICHIGAN
|
120,540
|
||
Minnesota - 0.2%
|
|||
Minneapolis Health Care Sys. Rev. (Fairview Health Svcs.) Series 2018 B, 3.55% 4/4/24, LOC JPMorgan Chase Bank, VRDN (c)
|
19,080
|
19,080
|
|
Missouri - 0.7%
|
|||
Missouri Health & Edl. Facilities Auth. Health Facilities Rev. (BJC HealthCare Proj.) Series 2008 A, 3.4% 4/4/24 (Liquidity Facility U.S. Bank NA, Cincinnati), VRDN (c)
|
32,625
|
32,625
|
|
Missouri Health & Edl. Facilities Auth. Rev. (Ascension Health Cr. Group Proj.) Series 2003 C3, 3.61% 4/4/24, VRDN (c)
|
30,200
|
30,200
|
|
TOTAL MISSOURI
|
62,825
|
||
Nebraska - 0.1%
|
|||
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.:
|
|||
(NE Sf Mbs Gen. 7/1/94 Proj.) Series 2017 C, 3.5% 4/4/24 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (c)
|
2,000
|
2,000
|
|
Series 2019 C, 3.6% 4/4/24 (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (c)
|
7,100
|
7,100
|
|
TOTAL NEBRASKA
|
9,100
|
||
Nevada - 0.7%
|
|||
Clark County Arpt. Rev.:
|
|||
Series 2008 D 2B, 3.63% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
23,750
|
23,750
|
|
Series 2008 D3, 3.79% 4/4/24, LOC Bank of America NA, VRDN (c)
|
35,790
|
35,790
|
|
TOTAL NEVADA
|
59,540
|
||
New York - 6.5%
|
|||
New York City Gen. Oblig.:
|
|||
Series 2006 E3, 3.49% 4/4/24, LOC Bank of America NA, VRDN (c)
|
4,475
|
4,475
|
|
Series 2006 E4, 3.49% 4/4/24, LOC Bank of America NA, VRDN (c)
|
18,590
|
18,590
|
|
Series 2010 G4, 3.4% 4/4/24 (Liquidity Facility Barclays Bank PLC), VRDN (c)
|
48,010
|
48,010
|
|
Series 2013 A5, 3.45% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
25,115
|
25,115
|
|
Series 2014 I3, 3.7% 4/4/24 (Liquidity Facility Citibank NA), VRDN (c)
|
9,405
|
9,405
|
|
Series 2017 A, 3.46% 4/4/24 (Liquidity Facility Citibank NA), VRDN (c)
|
48,900
|
48,900
|
|
Series D5, 3.45% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
28,870
|
28,870
|
|
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.:
|
|||
Series 2013 AA-1, 3.46% 4/4/24 (Liquidity Facility PNC Bank NA), VRDN (c)
|
8,390
|
8,390
|
|
Series 2015 BB3, 3.45% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
17,255
|
17,255
|
|
Series 2016 AA2, 3.46% 4/4/24 (Liquidity Facility PNC Bank NA), VRDN (c)
|
32,580
|
32,580
|
|
Series 2016 CC, 3.48% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
20,120
|
20,120
|
|
Series BB3, 3.4% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
34,775
|
34,775
|
|
New York City Transitional Fin. Auth. Rev.:
|
|||
Series 2013 C5, 3.42% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
14,955
|
14,955
|
|
Series 2014 D4, 3.46% 4/4/24 (Liquidity Facility Mizuho Corporate Bank Ltd.), VRDN (c)
|
25,600
|
25,600
|
|
Series 2018 C6, 3.43% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
57,450
|
57,450
|
|
New York Hsg. Fin. Agcy. Rev.:
|
|||
(8 East 102nd Street Hsg. Proj.) Series 2010 A, 3.7% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
23,700
|
23,700
|
|
Series 2010 A:
|
|||
3.65% 4/4/24, LOC Landesbank Hessen-Thuringen, VRDN (c)
|
2,500
|
2,500
|
|
3.65% 4/4/24, LOC Landesbank Hessen-Thuringen, VRDN (c)
|
9,300
|
9,300
|
|
New York Metropolitan Trans. Auth. Rev.:
|
|||
Series 2005 E, 3.51% 4/4/24, LOC Bank of America NA, VRDN (c)
|
11,900
|
11,900
|
|
Series 2005 E1, 3.4% 4/4/24, LOC Barclays Bank PLC, VRDN (c)
|
37,120
|
37,120
|
|
Series 2012 G2, 3.42% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
30,000
|
30,000
|
|
New York State Energy Research & Dev. Auth. Facilities Rev. (Consolidated Edison Co. of New York, Inc. Proj.) Series 2005 A1, 3.7% 4/4/24, LOC Mizuho Bank Ltd., VRDN (c)
|
10,100
|
10,100
|
|
Triborough Bridge & Tunnel Auth. Revs. Series 2005 A, 3.4% 4/4/24, LOC Barclays Bank PLC, VRDN (c)
|
9,280
|
9,280
|
|
FNMA:
|
|||
New York City Hsg. Dev. Corp. Multi-family Rental Hsg. Rev. (90 West Street Proj.) Series 2006 A, 3.45% 4/4/24, LOC Fannie Mae, VRDN (c)
|
18,675
|
18,675
|
|
New York Hsg. Fin. Agcy. Rev. (10 Barclay Street Hsg. Proj.) Series 2004 A, 3.62% 4/4/24, LOC Fannie Mae, VRDN (c)
|
10,000
|
10,000
|
|
TOTAL NEW YORK
|
557,065
|
||
New York And New Jersey - 0.1%
|
|||
Port Auth. of New York & New Jersey Series 1997 2, SIFMA Municipal Swap Index + 0.050% 3.69% 4/29/24, VRDN (c)(d)(e)
|
7,300
|
7,300
|
|
North Carolina - 0.5%
|
|||
Durham County Indl. and Poll. Cont. Auth. Rev. Series 2007, 3.45% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
18,260
|
18,260
|
|
Parson County Indl. Facilities and Poll. Cont. Fing. Auth. (CertainTeed Gypsum NC, Inc. Proj.) Series 2010, 3.49% 4/4/24, LOC Cr. Industriel et Commercial, VRDN (c)
|
21,590
|
21,590
|
|
TOTAL NORTH CAROLINA
|
39,850
|
||
Ohio - 5.6%
|
|||
Cuyahoga County Health Care Facilities Rev. (The A.M. McGregor Home Proj.) Series 2014, 3.49% 4/4/24, LOC Northern Trust Co., VRDN (c)
|
4,400
|
4,400
|
|
Franklin County Hosp. Facilities Rev.:
|
|||
Series 1998, 3.4% 4/4/24, LOC Northern Trust Co., VRDN (c)
|
4,210
|
4,210
|
|
Series 2009 A, 3.63% 4/4/24 (Liquidity Facility Barclays Bank PLC), VRDN (c)
|
47,575
|
47,575
|
|
Series 2009 B, 3.63% 4/4/24 (Liquidity Facility Barclays Bank PLC), VRDN (c)
|
53,100
|
53,100
|
|
Series 2011 C, 3.62% 4/4/24, VRDN (c)
|
8,810
|
8,810
|
|
Series 2011 D, 3.62% 4/4/24, VRDN (c)
|
15,200
|
15,200
|
|
Series 2013 A, 3.56% 4/4/24 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
|
16,345
|
16,345
|
|
Series 2013 B, 3.56% 4/4/24 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
|
5,525
|
5,525
|
|
Series 2014, 3.56% 4/4/24 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
|
3,720
|
3,720
|
|
Series 2017 B, 3.56% 4/4/24 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
|
22,380
|
22,380
|
|
Series 2018 C, 3.62% 4/4/24, VRDN (c)
|
11,475
|
11,475
|
|
Series 2018 D, 3.64% 4/4/24, VRDN (c)
|
23,100
|
23,100
|
|
Hamilton County Hosp. Facilities Rev.:
|
|||
Series 2018 AA, 3.45% 4/4/24, VRDN (c)
|
20,955
|
20,955
|
|
Series 2018 Z, 3.48% 4/4/24, VRDN (c)
|
17,955
|
17,955
|
|
Montgomery County Hosp. Rev. Series 2019 B, 3.45% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
40,970
|
40,970
|
|
Ohio Cap. Facilities Lease (Adult Correctional Bldg. Fund Proj.) Series 2019 C, 3.55% 4/4/24, VRDN (c)
|
21,960
|
21,960
|
|
Ohio Higher Edl. Facility Commission Rev. Series 2013 B1, 3.62% 4/4/24, VRDN (c)
|
4,900
|
4,900
|
|
Ohio Hosp. Facilities Rev. Series 2019 D1, 3.62% 4/4/24, VRDN (c)
|
15,160
|
15,160
|
|
Ohio Hosp. Rev. Series 2021 D, 3.6% 4/4/24, LOC U.S. Bank NA, Cincinnati, VRDN (c)
|
10,700
|
10,700
|
|
Ohio Parks & Recreation Cap. Facilities (Parks and Recreation Impt. Fund Projs.) Series 2020 B, 3.6% 4/4/24, VRDN (c)
|
11,175
|
11,175
|
|
Ohio Spl. Oblig. Series 2022 B, 3.55% 4/4/24, VRDN (c)
|
26,700
|
26,700
|
|
Ohio State Univ. Gen. Receipts (Multiyear Debt Issuance Prog. II) Series 2023 D1, 3.65% 4/4/24, VRDN (c)
|
93,205
|
93,205
|
|
TOTAL OHIO
|
479,520
|
||
Pennsylvania - 2.3%
|
|||
Delaware Valley Reg'l. Fin. Auth. Local Govt. Rev.:
|
|||
Series 2020 D, 3.65% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
17,990
|
17,990
|
|
Series 2022 E, 3.65% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
4,500
|
4,500
|
|
Lancaster Indl. Dev. Auth. Rev. (Willow Valley Retirement Cmntys. Proj.) Series 2009 C, 3.5% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
7,400
|
7,400
|
|
Lehigh County Gen. Purp. Hosp. Rev. Series 2019 B, 3.5% 4/4/24, LOC Bank of America NA, VRDN (c)
|
96,780
|
96,780
|
|
Pennsylvania Higher Edl. Facilities Auth. Rev. (Univ. of Pennsylvania Health Sys. Proj.) Series 2008 A, 3.62% 4/4/24, LOC Bank of America NA, VRDN (c)
|
24,700
|
24,700
|
|
Philadelphia Gas Works Rev.:
|
|||
(1998 Gen. Ordinance Proj.):
|
|||
Eighth Series B, 3.42% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
6,200
|
6,200
|
|
Fifth Series A2, 3.42% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
5,125
|
5,125
|
|
Series 2009 C, 3.42% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
5,610
|
5,610
|
|
Series 2009 D, 3.42% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
1,950
|
1,950
|
|
Philadelphia Gen. Oblig. Series 2009 B, 3.4% 4/4/24, LOC Barclays Bank PLC, VRDN (c)
|
20,775
|
20,775
|
|
FNMA Montgomery County Redev. Auth. Multi-family Hsg. Rev. (Kingswood Apts. Proj.) Series 2001 A, 3.47% 4/4/24, LOC Fannie Mae, VRDN (c)
|
4,000
|
4,000
|
|
TOTAL PENNSYLVANIA
|
195,030
|
||
Rhode Island - 0.3%
|
|||
Rhode Island Health and Edl. Bldg. Corp. Higher Ed. Facility Rev. (Bryant Univ. Proj.) Series 2008, 3.65% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
21,885
|
21,885
|
|
Texas - 8.5%
|
|||
Harris County Cultural Ed. Facilities Fin. Corp. Rev.:
|
|||
Series 2014 C, 3.45% 4/4/24, VRDN (c)
|
34,400
|
34,400
|
|
Series 2014 D, 3.45% 4/4/24, VRDN (c)
|
27,975
|
27,975
|
|
Series 2016 C, 3.45% 4/4/24, VRDN (c)
|
50,420
|
50,420
|
|
Series 2016 D, 3.45% 4/4/24, VRDN (c)
|
22,910
|
22,910
|
|
Series 2019 E, 3.45% 4/4/24, VRDN (c)
|
9,000
|
9,000
|
|
Series 2019 F, 3.45% 4/4/24, VRDN (c)
|
29,300
|
29,300
|
|
Harris County Hosp. District Rev. Series 2010, 3.47% 4/4/24, LOC JPMorgan Chase Bank, VRDN (c)
|
10,675
|
10,675
|
|
Houston Util. Sys. Rev.:
|
|||
Series 2004 B2, 3.5% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
28,455
|
28,455
|
|
Series 2004 B3, 3.5% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
7,650
|
7,650
|
|
Series 2004 B4, 3.5% 4/4/24 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
|
21,300
|
21,300
|
|
Series 2004 B5, 3.5% 4/4/24 (Liquidity Facility UBS AG), VRDN (c)
|
68,390
|
68,390
|
|
Series 2004 B6, 3.5% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
27,640
|
27,640
|
|
Port Arthur Navigation District Exempt Facilities:
|
|||
(Total Petroleum Proj.) Series 2010, 3.81% 4/4/24 (TotalEnergies SE Guaranteed), VRDN (c)
|
44,800
|
44,800
|
|
(Var-Total Petrochemicals Proj.) Series 2009, 3.7% 4/4/24 (TotalEnergies SE Guaranteed), VRDN (c)
|
700
|
700
|
|
Port Arthur Navigation District Indl. Dev. Corp. Exempt Facilities Rev.:
|
|||
(Air Products Proj.):
|
|||
Series 2010 A, 3.81% 4/4/24 (TotalEnergies SE Guaranteed), VRDN (c)
|
38,940
|
38,940
|
|
Series 2012, 3.5% 4/4/24 (TotalEnergies SE Guaranteed), VRDN (c)
|
43,700
|
43,700
|
|
(Total Petrochemicals & Refining U.S.A., Inc. Proj.) Series 2012 B, 3.7% 4/4/24 (TotalEnergies SE Guaranteed), VRDN (c)
|
4,200
|
4,200
|
|
(Total Petrochemicals and Refining U.S.A., Inc. Proj.) Series 2012 A, 3.7% 4/4/24 (TotalEnergies SE Guaranteed), VRDN (c)
|
4,100
|
4,100
|
|
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev. (Christus Health Proj.):
|
|||
Series 2008 C1, 3.55% 4/4/24, LOC Sumitomo Mitsui Banking Corp., VRDN (c)
|
2,400
|
2,400
|
|
Series 2008 C3, 3.55% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
21,100
|
21,100
|
|
Series 2008 C4, 3.55% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
7,820
|
7,820
|
|
Texas Gen. Oblig.:
|
|||
(Texas Veterans Land Board Proj.) Series 2017, 3.75% 4/4/24 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (c)
|
52,620
|
52,620
|
|
Series 2011 B, 3.75% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)
|
15,370
|
15,370
|
|
Series 2012 B, 3.75% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)
|
13,835
|
13,835
|
|
Series 2013 A, 3.75% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)
|
7,600
|
7,600
|
|
Series 2013 B, 3.75% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)
|
38,370
|
38,370
|
|
Series 2014 A, 3.75% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)
|
31,885
|
31,885
|
|
Series 2015 A, 3.75% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)
|
6,745
|
6,745
|
|
Series 2019, 3.6% 4/4/24 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
|
43,020
|
43,020
|
|
Univ. of Texas Board of Regents Sys. Rev. Series 2007 B, 3.41% 4/4/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), VRDN (c)
|
13,205
|
13,205
|
|
TOTAL TEXAS
|
728,525
|
||
Utah - 0.3%
|
|||
Emery County Poll. Cont. Rev. (PacifiCorp Proj.) Series 1994, 4.15% 4/4/24, VRDN (c)
|
27,300
|
27,300
|
|
Virginia - 1.2%
|
|||
Fairfax County Indl. Dev. Auth.:
|
|||
(Inova Health Sys. Proj.) Series 2018 C, 3.48% 4/4/24, VRDN (c)
|
6,975
|
6,975
|
|
Series 2016 C, 3.48% 4/4/24, VRDN (c)
|
8,975
|
8,975
|
|
Harrisonburg Econ. Dev. A Series 2023, 3.65% 4/4/24, LOC U.S. Bank NA, Cincinnati, VRDN (c)
|
25,400
|
25,400
|
|
Norfolk Econ. Dev. Auth. Hosp. Facilities Rev.:
|
|||
Series 2016 B, 3.7% 4/4/24, VRDN (c)
|
11,130
|
11,130
|
|
Series 2016, 3.55% 4/4/24, VRDN (c)
|
19,045
|
19,045
|
|
Virginia Small Bus. Fin. Auth. Hosp. Rev. Series 2008 A, 3.47% 4/4/24, LOC PNC Bank NA, VRDN (c)
|
28,600
|
28,600
|
|
TOTAL VIRGINIA
|
100,125
|
||
Washington - 0.4%
|
|||
Port of Vancouver Rev. (United Grain Corp. of Oregon Proj.) Series 2009, 3.55% 4/4/24, LOC Bank of America NA, VRDN (c)
|
14,400
|
14,400
|
|
FHLMC Washington Hsg. Fin. Commission Multi-family Hsg. Rev. (Reserve at Renton Apts. Proj.) Series 2014, 3.92% 4/4/24, LOC Fed. Home Ln. Bank, San Francisco, VRDN (c)
|
16,200
|
16,200
|
|
FNMA Washington Hsg. Fin. Commission Multi-family Hsg. Rev. (The Cambridge Apts. Proj.) Series 2009, 3.45% 4/4/24, LOC Fannie Mae, VRDN (c)
|
3,205
|
3,205
|
|
TOTAL WASHINGTON
|
33,805
|
||
West Virginia - 0.2%
|
|||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Series 2018 C, 3.42% 4/4/24, LOC TD Banknorth, NA, VRDN (c)
|
16,845
|
16,845
|
|
Wisconsin - 0.6%
|
|||
Wisconsin Hsg. & Econ. Dev. Auth.:
|
|||
2019 Series B, 3.42% 4/4/24 (Liquidity Facility Fed. Home Ln. Bank Chicago), VRDN (c)
|
4,600
|
4,600
|
|
Series 2021 B, 3.43% 4/4/24 (Liquidity Facility Fed. Home Ln. Bank Chicago), VRDN (c)
|
23,600
|
23,600
|
|
Series 2022 B, 3.43% 4/4/24 (Liquidity Facility Fed. Home Ln. Bank Chicago), VRDN (c)
|
22,500
|
22,500
|
|
TOTAL WISCONSIN
|
50,700
|
||
TOTAL VARIABLE RATE DEMAND NOTE
(Cost $4,168,875)
|
4,168,875
|
||
Tender Option Bond - 21.3%
|
|||
Principal
Amount (a)
(000s)
|
Value ($)
(000s)
|
||
Alabama - 0.6%
|
|||
Alabama Spl. Care Facilities Fing. Auth. Birmingham Rev. Participating VRDN Series ZF 13 98, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
1,965
|
1,965
|
|
Black Belt Energy Gas District Participating VRDN:
|
|||
Series XM 11 44, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
6,250
|
6,250
|
|
Series XM 11 50, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
8,950
|
8,950
|
|
Series ZL 04 87, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,125
|
2,125
|
|
Series ZL 05 08, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
8,590
|
8,590
|
|
Series ZL 05 09, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,515
|
4,515
|
|
Series ZL 05 18, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,335
|
3,335
|
|
Energy Southeast Ala Coop. District Participating VRDN Series XM 11 39, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,900
|
5,900
|
|
Jefferson County Swr. Rev. Participating VRDN Series XL 05 31, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,500
|
4,500
|
|
Southeast Alabama Gas Supply District Participating VRDN Series XF 16 94, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,125
|
3,125
|
|
Southeast Energy Auth. Coop. Dis Participating VRDN Series XM 11 35, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,000
|
4,000
|
|
Southeast Energy Auth. Rev. Participating VRDN Series ZL 04 68, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,340
|
2,340
|
|
TOTAL ALABAMA
|
55,595
|
||
Arizona - 0.1%
|
|||
Arizona Indl. Dev. Auth. Hosp. Rev. Participating VRDN Series XM 10 13, 3.57% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
1,050
|
1,050
|
|
Arizona Tourism & Sports Auth. Tax Rev. Participating VRDN Series Floaters E85, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
300
|
300
|
|
Jefferson County Ala Board Ed. Pubs Participating VRDN Series YX 13 19, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,025
|
2,025
|
|
Salt Verde Finl. Corp. Sr. Gas Rev. Participating VRDN Series Floaters XF 25 37, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,200
|
1,200
|
|
TOTAL ARIZONA
|
4,575
|
||
California - 0.4%
|
|||
California Health Facilities Fing. Auth. Rev. Participating VRDN Series Floaters 013, 3.7% 5/2/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,665
|
4,665
|
|
California State Univ. Rev. Participating VRDN:
|
|||
Series 2022 XX 12 63, 3.47% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
3,750
|
3,750
|
|
Series XM 11 40, 3.47% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,075
|
8,075
|
|
Lucile Salter Packard Children's Hosp. Participating VRDN Series Floaters XG 01 48, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
2,399
|
2,399
|
|
San Francisco Bay Area Rapid Transit Fing. Auth. Participating VRDN Series XX 12 68, 3.47% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,795
|
2,795
|
|
Univ. of California Regents Med. Ctr. Pool Rev. Participating VRDN Series XX 12 75, 3.47% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,685
|
2,685
|
|
Univ. of California Revs. Participating VRDN:
|
|||
Series 2022 XX 12 58, 3.47% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,000
|
4,000
|
|
Series Floaters YX 10 98, 3.47% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
7,600
|
7,600
|
|
TOTAL CALIFORNIA
|
35,969
|
||
Colorado - 0.4%
|
|||
Colorado Ctfs. of Prtn. Participating VRDN Series XG 04 26, 3.48% 4/4/24 (Liquidity Facility UBS AG) (c)(f)(g)
|
2,905
|
2,905
|
|
Colorado Health Facilities Auth. Rev. Bonds Participating VRDN:
|
|||
Series 2022 XM 10 28, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
4,000
|
4,000
|
|
Series 2023, 3.75% 5/2/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
12,900
|
12,900
|
|
Series XF 16 19, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,000
|
4,000
|
|
Series XG 02 51, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
720
|
720
|
|
Series XM 08 29, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,400
|
4,400
|
|
Series XM 09 97, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,665
|
4,665
|
|
Series XM 11 24, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,345
|
2,345
|
|
TOTAL COLORADO
|
35,935
|
||
Connecticut - 0.9%
|
|||
Connecticut Gen. Oblig. Participating VRDN:
|
|||
Series 15 XF0222, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
8,000
|
8,000
|
|
Series Floaters 014, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
28,355
|
28,355
|
|
Series Floaters 016, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
25,000
|
25,000
|
|
Series Floaters YX 10 95, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,000
|
4,000
|
|
Series XM 10 35, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,705
|
2,705
|
|
Connecticut Health & Edl. Facilities Auth. Rev. Participating VRDN Series YX 12 91, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,100
|
8,100
|
|
TOTAL CONNECTICUT
|
76,160
|
||
District Of Columbia - 0.2%
|
|||
District of Columbia Gen. Oblig. Participating VRDN Series Floaters E 108, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,975
|
2,975
|
|
Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev. Participating VRDN:
|
|||
Series XF 08 53, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
9,475
|
9,475
|
|
Series XF 09 19, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
1,355
|
1,355
|
|
Series XG 02 67, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
1,715
|
1,715
|
|
TOTAL DISTRICT OF COLUMBIA
|
15,520
|
||
Florida - 1.2%
|
|||
Broward County Convention Ctr. Participating VRDN:
|
|||
Series XF 16 41, 3.55% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
7,700
|
7,700
|
|
Series ZL 05 32, 3.47% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
8,100
|
8,100
|
|
Cape Coral Wtr. & Swr. Rev. Participating VRDN Series YX 13 17, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
5,200
|
5,200
|
|
County of Broward Tourist Dev. Tax Rev. Participating VRDN:
|
|||
Series XL 04 12, 3.53% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
4,000
|
4,000
|
|
Series XL 04 29, 3.56% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
1,415
|
1,415
|
|
Florida Dept. of Trans. Tpk. Rev. Participating VRDN Series XF 31 00, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,265
|
4,265
|
|
Gainesville Utils. Sys. Rev. Participating VRDN Series YX 12 84, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
7,815
|
7,815
|
|
Miami-Dade County Edl. Facilities Rev. Participating VRDN Series Floaters XG 01 92, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,130
|
5,130
|
|
Miami-Dade County Expressway Auth. Participating VRDN Series Floaters XG 02 52, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
7,400
|
7,400
|
|
Miami-Dade County Wtr. & Swr. Rev. Participating VRDN:
|
|||
Series XF 30 80, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,000
|
6,000
|
|
Series XM 11 22, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
13,900
|
13,900
|
|
Series XX 12 71, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,000
|
6,000
|
|
Palm Beach County Health Facilities Auth. Hosp. Rev. Participating VRDN Series XG 03 70, 3.55% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
6,630
|
6,630
|
|
Pasco County Fla Hosp. Rev. Participating VRDN Series XM 11 55, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,285
|
5,285
|
|
South Broward Hosp. District Rev. Participating VRDN Series XG 03 45, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
200
|
200
|
|
South Miami Health Facilities Auth. Hosp. Rev. Participating VRDN Series YX 12 86, 3.52% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
7,435
|
7,435
|
|
Tampa Health Sys. Rev. Participating VRDN:
|
|||
Series 2022 ZF 14 10, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,625
|
2,625
|
|
Series XF 31 46, 3.5% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
2,315
|
2,315
|
|
TOTAL FLORIDA
|
101,415
|
||
Georgia - 1.5%
|
|||
Brookhaven Dev. Auth. Rev. Participating VRDN:
|
|||
Series XG 02 44, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
170
|
170
|
|
Series XX 12 80, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
10,000
|
10,000
|
|
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Participating VRDN:
|
|||
Series E 155, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
30,695
|
30,695
|
|
Series Floaters E 107, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
15,400
|
15,400
|
|
Fulton County Dev. Auth. Rev. Participating VRDN Series XL 02 68, 3.55% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,130
|
2,130
|
|
Georgia Gen. Oblig. Participating VRDN Series 2023 D7, 3.47% 4/4/24 (Liquidity Facility Citibank NA) (c)(f)(g)
|
9,375
|
9,375
|
|
Georgia Muni. Elec. Auth. Pwr. Rev. Participating VRDN:
|
|||
Series XF 31 06, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,085
|
8,085
|
|
Series XG 04 70, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
8,150
|
8,150
|
|
Main Street Natural Gas, Inc. Participating VRDN:
|
|||
Series Floaters XF 07 51, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
22,705
|
22,705
|
|
Series XF 16 01, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
6,800
|
6,800
|
|
Series XM 11 34, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,000
|
4,000
|
|
Series XM 11 36, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,700
|
2,700
|
|
Series ZF 16 55, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,105
|
3,105
|
|
Series ZF 16 59, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,110
|
2,110
|
|
Muni. Elec. Auth. of Georgia Participating VRDN Series XG 02 54, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
5,305
|
5,305
|
|
TOTAL GEORGIA
|
130,730
|
||
Idaho - 0.0%
|
|||
Idaho Hsg. & Fin. Assoc. Single Family Mtg. Participating VRDN Series XG 05 65, 3.5% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,150
|
2,150
|
|
Illinois - 3.7%
|
|||
Chicago Board of Ed. Participating VRDN:
|
|||
Series Floaters XG 02 17, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
5,625
|
5,625
|
|
Series XG 04 69, 3.51% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
3,260
|
3,260
|
|
Chicago Gen. Oblig. Participating VRDN:
|
|||
Series 2022 XF 30 42, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,545
|
2,545
|
|
Series 2022 XF 30 45, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
31,330
|
31,330
|
|
Series Floaters XL 01 05, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,380
|
8,380
|
|
Series XX 12 64, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
18,710
|
18,710
|
|
Series XX 12 65, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,660
|
2,660
|
|
Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN Series Floaters XF 07 36, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
560
|
560
|
|
Chicago Transit Auth. Participating VRDN Series XL 01 45, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,685
|
8,685
|
|
Illinois Fin. Auth. Participating VRDN:
|
|||
Series BAML 50 45, 3.53% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
30,850
|
30,850
|
|
Series BAML 50 47, 3.53% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
44,900
|
44,900
|
|
Series XG 04 31, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,700
|
1,700
|
|
Illinois Fin. Auth. Rev. Participating VRDN:
|
|||
Series 15 XF0253, 3.55% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
4,745
|
4,745
|
|
Series 17 XM 0492, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
12,265
|
12,265
|
|
Series 2022 ZL 03 54, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
2,500
|
2,500
|
|
Series Floaters 017, 3.75% 5/2/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
18,800
|
18,800
|
|
Series XF 07 11, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
9,900
|
9,900
|
|
Series XF 15 40, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,500
|
2,500
|
|
Series YX 12 26, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,575
|
4,575
|
|
Series YX 13 26, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
3,395
|
3,395
|
|
Illinois Gen. Oblig. Participating VRDN:
|
|||
Series XF 10 10, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
10,595
|
10,595
|
|
Series XL 02 60, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
3,700
|
3,700
|
|
Series XM 07 59, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
1,600
|
1,600
|
|
Series XM 10 48, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
4,500
|
4,500
|
|
Series XM 10 49, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
10,100
|
10,100
|
|
Series XX 11 41, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,560
|
1,560
|
|
Illinois Hsg. Dev. Auth. Participating VRDN Series 2023, 3.48% 4/4/24 (Liquidity Facility Citibank NA) (c)(f)(g)
|
2,500
|
2,500
|
|
Illinois Reg'l. Trans. Auth. Participating VRDN Series XF 16 23, 3.51% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
3,000
|
3,000
|
|
Illinois Toll Hwy. Auth. Toll Hwy. Rev. Participating VRDN:
|
|||
Series 15 XF0277, 3.51% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
4,665
|
4,665
|
|
Series Floaters ZF 03 73, 3.51% 4/2/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
9,525
|
9,525
|
|
Series XF 15 33, 3.51% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,700
|
2,700
|
|
Series ZL 03 32, 3.51% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
1,310
|
1,310
|
|
JPMorgan Chase Bank Participating VRDN Series ZF 13 88, 3.51% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,000
|
2,000
|
|
Metropolitan Pier & Exposition Participating VRDN Series Floaters XF 10 45, 3.57% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,120
|
2,120
|
|
RBC Muni. Products, Inc. Trust Participating VRDN Series 2023, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
41,700
|
41,700
|
|
TOTAL ILLINOIS
|
319,460
|
||
Indiana - 0.0%
|
|||
Indiana Fin. Auth. Health Facilities Rev. Participating VRDN Series XF 15 69, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,000
|
4,000
|
|
Iowa - 0.2%
|
|||
Iowa Fin. Auth. Rev. Participating VRDN Series BC 240 03, 3.7% 5/2/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
15,000
|
15,000
|
|
Iowa Fin. Auth. Single Family Mtg. Participating VRDN Series XG 05 22, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,250
|
4,250
|
|
TOTAL IOWA
|
19,250
|
||
Kansas - 0.1%
|
|||
Wyandotte County/Kansas City Unified Govt. Util. Sys. Rev. Participating VRDN Series YX 12 23, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
5,400
|
5,400
|
|
Kentucky - 0.2%
|
|||
CommonSpirit Health Participating VRDN Series MIZ 90 21, 3.55% 4/4/24 (Liquidity Facility Mizuho Cap. Markets LLC) (c)(f)(g)
|
4,500
|
4,500
|
|
Kentucky Bd Dev. Corp. Indl. Bldg. Participating VRDN Series XM 11 41, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,000
|
3,000
|
|
Kentucky Econ. Dev. Fin. Auth. Hosp. Rev. Participating VRDN:
|
|||
Series Floaters XG 01 23, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
440
|
440
|
|
Series XF 31 81, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,200
|
2,200
|
|
Kentucky, Inc. Pub. Energy Participating VRDN:
|
|||
Series XF 16 83, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
4,760
|
4,760
|
|
Series XG 05 56, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
1,875
|
1,875
|
|
TOTAL KENTUCKY
|
16,775
|
||
Louisiana - 0.1%
|
|||
Louisiana Pub. Facilities Auth. Rev. Participating VRDN Series YX 12 95, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,605
|
8,605
|
|
Maryland - 0.1%
|
|||
Montgomery County Gen. Oblig. Participating VRDN Series Floaters XG 02 15, 3.49% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
12,020
|
12,020
|
|
Michigan - 0.5%
|
|||
Holly Area School District Participating VRDN Series XG 04 86, 3.5% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
6,755
|
6,755
|
|
Mclaren Health Care Corp. Participating VRDN Series XL 02 71, 3.55% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
1,010
|
1,010
|
|
Michigan Bldg. Auth. Rev. Participating VRDN:
|
|||
Series Floaters XM 04 65, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
10,635
|
10,635
|
|
Series XG 05 03, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,635
|
6,635
|
|
Michigan Fin. Auth. Rev. Participating VRDN:
|
|||
Series XF 07 82, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,185
|
2,185
|
|
Series XG 04 33, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
4,800
|
4,800
|
|
Series ZF 30 32, 3.48% 4/4/24 (Liquidity Facility UBS AG) (c)(f)(g)
|
2,560
|
2,560
|
|
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Participating VRDN:
|
|||
Series XF 15 81, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
2,400
|
2,400
|
|
Series XL 04 67, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,000
|
2,000
|
|
Monroe Mich Pub. Schools Participating VRDN Series XF 16 93, 3.5% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,000
|
3,000
|
|
TOTAL MICHIGAN
|
41,980
|
||
Minnesota - 0.1%
|
|||
Duluth Econ. Dev. Auth. Health Care Facilities Rev. Participating VRDN Series XG 05 23, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,900
|
4,900
|
|
Missouri - 1.2%
|
|||
Kansas City Spl. Oblig. Participating VRDN:
|
|||
Series XG 03 61, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,090
|
6,090
|
|
Series YX 11 93, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
9,115
|
9,115
|
|
Missouri Health & Edl. Facilities Auth. Rev. Participating VRDN Series Floaters C16, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
22,500
|
22,500
|
|
Missouri Health & Edl. Facilities Rev.:
|
|||
Bonds Series 2023 G 121, 3.65%, tender 6/3/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,900
|
2,900
|
|
Participating VRDN:
|
|||
Series Floaters 14, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
53,110
|
53,110
|
|
Series Floaters C17, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,200
|
5,200
|
|
St Louis County Spl. Oblig. Participating VRDN Series XG 03 82, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
6,000
|
6,000
|
|
TOTAL MISSOURI
|
104,915
|
||
Nebraska - 0.0%
|
|||
Central Plains Energy Proj. Rev. Participating VRDN Series 2022 ZL 03 01, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
480
|
480
|
|
Nevada - 0.3%
|
|||
Clark County Fuel Tax Participating VRDN Series ZL 04 80, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)(h)
|
3,275
|
3,275
|
|
Clark County Hwy. Impt. Rev. Participating VRDN Series XG 04 94, 3.48% 4/4/24 (Liquidity Facility UBS AG) (c)(f)(g)
|
3,995
|
3,995
|
|
Clark County School District Participating VRDN Series XF 14 73, 3.57% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,235
|
2,235
|
|
Clark County Wtr. Reclamation District Participating VRDN Series XF 15 85, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
6,400
|
6,400
|
|
Las Vegas Valley Wtr. District Wtr. Impt. Gen. Oblig. Participating VRDN:
|
|||
Series XG 05 29, 3.27% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
5,620
|
5,620
|
|
Series ZF 31 55, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
4,750
|
4,750
|
|
TOTAL NEVADA
|
26,275
|
||
New Jersey - 0.7%
|
|||
New Jersey Econ. Dev. Auth. Rev. Participating VRDN:
|
|||
Series Floaters XF 10 48, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
3,400
|
3,400
|
|
Series YX 12 87, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,725
|
2,725
|
|
New Jersey Hsg. & Mtg. Fin. Agcy. Multi-family Rev. Participating VRDN Series Floater 2024, 3.7% 5/2/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
29,300
|
29,300
|
|
New Jersey Tpk. Auth. Tpk. Rev. Participating VRDN Series XM 10 96, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
7,500
|
7,500
|
|
New Jersey Trans. Trust Fund Auth. Participating VRDN:
|
|||
Series Floaters XG 02 05, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,115
|
8,115
|
|
Series XF 15 57, 3.48% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,435
|
3,435
|
|
Series XF 16 75, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,170
|
3,170
|
|
Series YX 12 68, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
5,800
|
5,800
|
|
TOTAL NEW JERSEY
|
63,445
|
||
New York - 1.3%
|
|||
New York City Gen. Oblig. Participating VRDN:
|
|||
Series Floaters E87, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
8,200
|
8,200
|
|
Series Floaters E88, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,000
|
2,000
|
|
Series Floaters XM 07 06, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
1,900
|
1,900
|
|
Series XF 13 08, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,520
|
2,520
|
|
Series XF 13 27, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
4,000
|
4,000
|
|
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev. Participating VRDN:
|
|||
Series Floaters E 129, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
22,800
|
22,800
|
|
Series XF 13 36, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
6,200
|
6,200
|
|
Series XF 30 66, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,500
|
2,500
|
|
Series XF 30 71, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,670
|
2,670
|
|
Series XF 31 60, 3.47% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
3,750
|
3,750
|
|
Series XL 05 38, 3.66% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
2,090
|
2,090
|
|
New York Metropolitan Trans. Auth. Rev. Participating VRDN:
|
|||
Series XF 28 78, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,600
|
2,600
|
|
Series XF 30 00, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
35,095
|
35,095
|
|
Triborough Bridge & Tunnel Auth. Participating VRDN Series XF 13 32, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
12,090
|
12,090
|
|
TOTAL NEW YORK
|
108,415
|
||
North Carolina - 0.2%
|
|||
Charlotte Int'l. Arpt. Rev. Participating VRDN Series XF 16 03, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,940
|
2,940
|
|
North Carolina Hsg. Fin. Agcy. Home Ownership Rev. Participating VRDN Series YX 13 16, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
10,720
|
10,720
|
|
TOTAL NORTH CAROLINA
|
13,660
|
||
North Dakota - 0.2%
|
|||
Monroeville Fin. Auth. UPMC Rev. Participating VRDN Series YX 11 85, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,550
|
6,550
|
|
North Dakota Hsg. Fin. Agcy. Participating VRDN Series XG 05 59, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,595
|
5,595
|
|
Wisconsin Hsg. & Econ. Dev. Auth. Participating VRDN Series XF 16 96, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,440
|
4,440
|
|
TOTAL NORTH DAKOTA
|
16,585
|
||
Ohio - 0.6%
|
|||
Allen County Hosp. Facilities Rev. Participating VRDN:
|
|||
Series Floaters E 134, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
8,010
|
8,010
|
|
Series Floaters XF 25 16, 3.54% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,600
|
3,600
|
|
Brunswick Ohio City School District Participating VRDN Series XF 15 47, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,750
|
2,750
|
|
Cuyahoga County Ctfs. of Prtn. Participating VRDN Series Floaters XG 02 06, 3.55% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
955
|
955
|
|
Cuyahoga County Hosp. Rev. Participating VRDN Series Floater BAML 23 5043, 3.52% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,900
|
2,900
|
|
Franklin County Hosp. Facilities Rev. Participating VRDN Series XG 05 07, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,810
|
2,810
|
|
Hamilton County Hosp. Facilities Rev. Participating VRDN Series XG 05 25, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
6,775
|
6,775
|
|
Montgomery County Hosp. Rev. Participating VRDN Series Floaters E 132, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
14,685
|
14,685
|
|
Ohio Higher Edl. Facility Commission Rev. Participating VRDN Series XF 31 14, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
2,875
|
2,875
|
|
Ohio Hosp. Rev. Participating VRDN Series C18, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,100
|
2,100
|
|
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. Participating VRDN:
|
|||
Series Floaters XF 27 11, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
3,660
|
3,660
|
|
Series XF 31 45, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
3,155
|
3,155
|
|
TOTAL OHIO
|
54,275
|
||
Oklahoma - 0.0%
|
|||
Oklahoma Dev. Fin. Auth. Health Sys. Rev. Participating VRDN Series E 140, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,300
|
3,300
|
|
Oregon - 0.1%
|
|||
Beaverton School District Participating VRDN Series 2022 XF 14 19, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
1,330
|
1,330
|
|
Multnomah County School District #1J Portland Participating VRDN Series XF 15 30, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
9,460
|
9,460
|
|
TOTAL OREGON
|
10,790
|
||
Pennsylvania - 0.8%
|
|||
Commonwealth Fing. Auth. Tobacco Participating VRDN Series XX 10 80, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,800
|
1,800
|
|
Cumberland County Muni. Auth. Rev. Participating VRDN Series YX 12 73, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
5,985
|
5,985
|
|
Geisinger Auth. Health Sys. Rev. Participating VRDN Series XG 04 68, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
6,760
|
6,760
|
|
Lehigh County Gen. Purp. Hosp. Rev. Participating VRDN Series BAML 23 50 39, 3.53% 5/2/24 (Liquidity Facility Bank of America NA) (c)(f)(g)(h)
|
11,435
|
11,435
|
|
Pennsylvania Econ. Dev. Fing. Auth. Participating VRDN Series XF 15 25, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,860
|
2,860
|
|
Pennsylvania Higher Edl. Facilities Auth. Rev. Participating VRDN Series XG 02 63, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
840
|
840
|
|
Pennsylvania State Univ. Participating VRDN Series XM 08 27, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,700
|
2,700
|
|
Pennsylvania Tpk. Commission Tpk. Rev. Participating VRDN:
|
|||
Series XM 10 08, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
835
|
835
|
|
Series XX 10 44, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,365
|
6,365
|
|
Philadelphia Wtr. & Wastewtr. Rev. Participating VRDN:
|
|||
Series 2017, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,320
|
6,320
|
|
Series XF 16 06, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
4,400
|
4,400
|
|
Southcentral Pennsylvania Gen. Auth. Rev. Participating VRDN:
|
|||
Series XL 01 04, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
4,320
|
4,320
|
|
Series ZL 05 12, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
3,335
|
3,335
|
|
Southeastern Pennsylvania Trans. Auth. Rev. Participating VRDN:
|
|||
Series 2022 XG 04 12, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,115
|
3,115
|
|
Series XM 10 57, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
3,600
|
3,600
|
|
TOTAL PENNSYLVANIA
|
64,670
|
||
Rhode Island - 0.0%
|
|||
Rhode Island Health and Edl. Bldg. Corp. Higher Ed. Facility Rev. Participating VRDN Series Floaters XM 07 21, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
2,865
|
2,865
|
|
South Carolina - 0.7%
|
|||
Patriots Energy Group Fing. Agcy. Participating VRDN:
|
|||
Series XG 05 39, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,000
|
2,000
|
|
Series XM 11 43, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,000
|
3,000
|
|
Series ZF 16 70, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,295
|
5,295
|
|
Series ZF 16 71, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,500
|
2,500
|
|
Series ZL 05 15, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)(h)
|
2,830
|
2,830
|
|
Series ZL 05 25, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,300
|
3,300
|
|
South Carolina Jobs-Econ. Dev. Auth. Participating VRDN Series XF 15 31, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
4,635
|
4,635
|
|
South Carolina Pub. Svc. Auth. Rev. Participating VRDN:
|
|||
Series 2017 XF 2425, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,135
|
1,135
|
|
Series XF 15 48, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
3,000
|
3,000
|
|
Series YX 12 69, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,000
|
4,000
|
|
South Carolina Trans. Infrastructure Bank Rev. Participating VRDN Series Floaters XM 06 91, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
27,035
|
27,035
|
|
TOTAL SOUTH CAROLINA
|
58,730
|
||
South Dakota - 0.1%
|
|||
South Dakota Health & Edl. Facilities Auth. Rev. Participating VRDN Series 2022 XF 14 09, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,625
|
5,625
|
|
Tennessee - 0.2%
|
|||
Greeneville Health & Edl. Facilities Board Participating VRDN:
|
|||
Series Floaters XF 25 76, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,700
|
6,700
|
|
Series Floaters XG 01 94, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,535
|
5,535
|
|
Metropolitan Govt. Nashville & Davidson County Sports Auth. Rev. Participating VRDN Series XG 05 17, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,875
|
5,875
|
|
Tennessee Energy Acquisition Corp. Participating VRDN Series ZF 16 58, 3.5% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,470
|
2,470
|
|
TOTAL TENNESSEE
|
20,580
|
||
Texas - 2.4%
|
|||
Aldine Independent School District Participating VRDN Series Floaters XL 00 87, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
6,600
|
6,600
|
|
Austin Elec. Util. Sys. Rev. Participating VRDN:
|
|||
Series XF 31 12, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,000
|
8,000
|
|
Series XG 05 34, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
5,330
|
5,330
|
|
Crowley Independent School Dis Participating VRDN Series XG 05 13, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,000
|
2,000
|
|
Dallas Wtrwks. & Swr. Sys. Rev. Participating VRDN Series XF 27 28, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
6,395
|
6,395
|
|
Denton Independent School District Participating VRDN:
|
|||
Series XF 15 52, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
4,000
|
4,000
|
|
Series XF 31 28, 3.47% 4/4/24 (Liquidity Facility UBS AG) (c)(f)(g)
|
5,150
|
5,150
|
|
Series XF 31 39, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,000
|
6,000
|
|
Series XF 31 65, 3.47% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
8,000
|
8,000
|
|
Series ZF 16 74, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
3,240
|
3,240
|
|
El Paso Wtr. & Swr. Rev. Bonds Series G 124, 3.65%, tender 9/3/24 (Liquidity Facility Royal Bank of Canada) (c)(d)(e)(f)(g)
|
2,700
|
2,700
|
|
Forney Independent School District Participating VRDN Series 2022 XL 03 62, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,770
|
2,770
|
|
Goose Creek Consolidated Independent School District Participating VRDN Series XM 10 56, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
3,750
|
3,750
|
|
Harris County Health Facilities Dev. Corp. Rev. Participating VRDN Series 16 ZF 03 12, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
8,430
|
8,430
|
|
Katy Independent School District Participating VRDN Series XF 31 16, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
8,000
|
8,000
|
|
Lamar Consolidated Independent School District Participating VRDN:
|
|||
Series XF 16 57, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,100
|
3,100
|
|
Series XF 31 31, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
7,000
|
7,000
|
|
New Braunfels Independent School District Participating VRDN Series 2022 XM 10 63, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
3,750
|
3,750
|
|
North Ft. Bend Wtr. Auth. Participating VRDN Series 2022 XF 30 23, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
7,620
|
7,620
|
|
Northwest Independent School District Participating VRDN Series XF 15 76, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
2,675
|
2,675
|
|
Princeton Independent School District Participating VRDN Series XF 31 92, 3.47% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
3,125
|
3,125
|
|
Red Oak Independent School District Participating VRDN Series XG 05 12, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
3,385
|
3,385
|
|
Royse City Independent School District Participating VRDN Series XF 16 08, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,200
|
3,200
|
|
San Antonio Wtr. Sys. Rev. Participating VRDN:
|
|||
Series XF 14 47, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,000
|
2,000
|
|
Series XF 31 36, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
10,105
|
10,105
|
|
Spring Tex Independent School District Participating VRDN Series XF 30 89, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,630
|
4,630
|
|
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Participating VRDN:
|
|||
Series E 141, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
10,320
|
10,320
|
|
Series XL 03 60, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
2,745
|
2,745
|
|
Series ZF 16 68, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,260
|
2,260
|
|
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev. Participating VRDN Series 2021 E1 50, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
4,000
|
4,000
|
|
Tender Option Bond Trust Receipts Participating VRDN Series ZF 32 01, 3.47% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
2,890
|
2,890
|
|
Texas Wtr. Dev. Board Rev.:
|
|||
Bonds Series MS 00 17, 3.6%, tender 4/25/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(d)(f)(g)
|
3,600
|
3,600
|
|
Participating VRDN:
|
|||
Series 2022 XM 1066, 3.47% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
9,380
|
9,380
|
|
Series Floaters XF 25 57, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
5,600
|
5,600
|
|
Series Floaters XF 27 30, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
4,310
|
4,310
|
|
Series Floaters XG 02 11, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
10,000
|
10,000
|
|
Series XF 16 64, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
2,000
|
2,000
|
|
Series XM 10 82, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
5,000
|
5,000
|
|
Waxahachie Independent School District Participating VRDN Series XF 15 53, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
4,560
|
4,560
|
|
Ysleta Tex Independent School District Participating VRDN Series XF 13 38, 3.48% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
4,000
|
4,000
|
|
TOTAL TEXAS
|
201,620
|
||
Utah - 0.0%
|
|||
Utah County Hosp. Rev. Participating VRDN Series XM 10 03, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
2,435
|
2,435
|
|
Virginia - 0.8%
|
|||
Chesapeake Bay Bridge and Tunnel District Gen. Resolution Rev. Participating VRDN Series XF 30 64, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
4,200
|
4,200
|
|
Fairfax County Indl. Dev. Auth. Participating VRDN Series Floaters XG 01 91, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
7,136
|
7,136
|
|
Hampton Roads Trans. Accountability Commission Participating VRDN:
|
|||
Series XM 11 49, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
5,000
|
5,000
|
|
Series ZL 02 67, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
2,250
|
2,250
|
|
Norfolk Econ. Dev. Health Care Facilities Participating VRDN Series 2022 C20, 3.49% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
5,000
|
5,000
|
|
Suffolk Econ. Dev. Auth. Hosp. Facilities Rev. Participating VRDN Series MIZ 90 25, 3.55% 4/4/24 (Liquidity Facility Mizuho Cap. Markets LLC) (c)(f)(g)
|
31,320
|
31,320
|
|
Univ. of Virginia Gen. Rev. Participating VRDN Series XG 04 08, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
3,375
|
3,375
|
|
Williamsburg Econ. Dev. Participating VRDN Series XF 15 46, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)(h)
|
6,955
|
6,955
|
|
TOTAL VIRGINIA
|
65,236
|
||
Washington - 1.0%
|
|||
Central Puget Sound Reg'l. Trans. Auth. Sales & Use Tax Rev.:
|
|||
Bonds Series G 123, 3.65%, tender 5/1/24 (Liquidity Facility Royal Bank of Canada) (c)(d)(f)(g)
|
2,000
|
2,000
|
|
Participating VRDN Series XM 11 01, 3.46% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
3,245
|
3,245
|
|
CommonSpirit Health Participating VRDN Series XF 1017, 3.68% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
6,000
|
6,000
|
|
Multicare Health Sys. Participating VRDN Series E 153, 3.48% 4/4/24 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)
|
20,940
|
20,940
|
|
Three Rivs Wash Reg'l. Wastewate Participating VRDN Series 2023, 3.57% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,420
|
1,420
|
|
Washington Convention Ctr. Pub. Facilities Participating VRDN:
|
|||
Series 2022 XX 12 38, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
19,715
|
19,715
|
|
Series XG 02 87, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,100
|
2,100
|
|
Washington Gen. Oblig. Participating VRDN:
|
|||
Series ZF 31 73, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
5,000
|
5,000
|
|
Series ZL 04 90, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
1,665
|
1,665
|
|
Series ZL 04 91, 3.48% 4/4/24 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)
|
1,665
|
1,665
|
|
Washington Health Care Facilities Auth. Rev. Participating VRDN:
|
|||
Series 2015 XF0150, 3.5% 4/4/24 (Liquidity Facility Bank of America NA) (c)(f)(g)
|
3,165
|
3,165
|
|
Series XF 15 14, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
4,015
|
4,015
|
|
Series XF 30 62, 3.49% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
1,300
|
1,300
|
|
Series XG 04 75, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
5,290
|
5,290
|
|
Series XG 04 81, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
3,905
|
3,905
|
|
TOTAL WASHINGTON
|
81,425
|
||
West Virginia - 0.1%
|
|||
West Virginia Hosp. Fin. Auth. Hosp. Rev. Participating VRDN Series XF 15 37, 3.49% 4/4/24 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)
|
5,525
|
5,525
|
|
Wisconsin - 0.3%
|
|||
Univ. of Wisconsin Hosp. & Clinics Auth. Participating VRDN Series XL 02 96, 3.48% 4/4/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(f)(g)
|
4,000
|
4,000
|
|
Wisconsin Health & Edl. Facilities Participating VRDN:
|
|||
Series Floaters XF 07 41, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
6,820
|
6,820
|
|
Series Floaters XF 25 41, 3.48% 4/4/24 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)
|
10,000
|
10,000
|
|
Series XL 04 83, 3.48% 4/4/24 (Liquidity Facility Barclays Bank PLC) (c)(f)(g)
|
2,250
|
2,250
|
|
TOTAL WISCONSIN
|
23,070
|
||
TOTAL TENDER OPTION BOND
(Cost $1,824,360)
|
1,824,360
|
||
Other Municipal Security - 17.7%
|
|||
Principal
Amount (a)
(000s)
|
Value ($)
(000s)
|
||
Alabama - 0.0%
|
|||
Alabama Fed. Aid Hwy. Fin. Auth. Bonds Series 2015, 4% 9/1/24 (Pre-Refunded to 9/1/24 @ 100)
|
2,025
|
2,026
|
|
Arizona - 0.0%
|
|||
Phoenix Civic Impt. Board Arpt. Rev. Bonds Series 2017 D, 5% 7/1/24
|
540
|
542
|
|
California - 1.5%
|
|||
California Gen. Oblig. Series 2024 A2, 3.55% 6/12/24, LOC Royal Bank of Canada, CP
|
30,000
|
30,000
|
|
Univ. of California Revs. Series 2024:
|
|||
3.5% 8/5/24, CP
|
36,200
|
36,200
|
|
3.53% 7/25/24, CP
|
29,000
|
29,000
|
|
3.65% 7/25/24, CP
|
16,500
|
16,500
|
|
3.65% 7/25/24, CP
|
16,200
|
16,200
|
|
TOTAL CALIFORNIA
|
127,900
|
||
Colorado - 0.1%
|
|||
Colorado Ed. Ln. Prog. TRAN Series 2023 A, 5% 6/28/24
|
5,010
|
5,023
|
|
Connecticut - 0.3%
|
|||
Connecticut Gen. Oblig. Bonds Series 2022 D, 5% 9/15/24
|
900
|
905
|
|
Danbury Gen. Oblig. BAN Series 2024, 5% 9/24/24 (b)
|
24,000
|
24,155
|
|
TOTAL CONNECTICUT
|
25,060
|
||
Florida - 0.5%
|
|||
Broward County School Board Ctfs. of Prtn. Bonds Series 2015 A, 5% 7/1/24
|
1,775
|
1,780
|
|
Broward County School District TAN Series 2023, 5% 6/28/24
|
2,630
|
2,637
|
|
Florida Local Govt. Fin. Cmnty. Series 2024 A1, 3.5% 4/2/24, LOC JPMorgan Chase Bank, CP
|
13,900
|
13,900
|
|
Martin County Health Facilities Bonds Series 2015, 5% 11/15/24 (Pre-Refunded to 11/15/24 @ 100)
|
600
|
605
|
|
Miami-Dade County School Board Ctfs. of Prtn. Bonds:
|
|||
Series 2015 A, 5% 5/1/24
|
4,375
|
4,378
|
|
Series 2015 B, 5% 5/1/24
|
700
|
701
|
|
Miami-Dade County School District TAN Series 2023, 5% 6/18/24
|
6,190
|
6,205
|
|
Orlando Fla Contract Tourist D Bonds Series 2014 A:
|
|||
5% 5/1/24 (Pre-Refunded to 5/1/24 @ 100)
|
2,620
|
2,622
|
|
5.25% 5/1/24 (Pre-Refunded to 5/1/24 @ 100)
|
1,920
|
1,922
|
|
Polk County Indl. Dev. Auth. Health Sys. Rev. Bonds:
|
|||
Series 2014 A, SIFMA Municipal Swap Index + 0.300% 3.75%, tender 10/24/24 (c)(e)
|
1,000
|
1,000
|
|
Series 2014 A1, SIFMA Municipal Swap Index + 0.250% 3.7%, tender 10/24/24 (c)(e)
|
3,800
|
3,800
|
|
Tampa Health Sys. Rev. Bonds Series 2012 B, SIFMA Municipal Swap Index + 0.300% 3.75%, tender 10/24/24 (c)(e)
|
5,300
|
5,300
|
|
TOTAL FLORIDA
|
44,850
|
||
Georgia - 0.3%
|
|||
Clarke County Hosp. Auth. Bonds (Piedmont Heatlhcare, Inc. Proj.) Series 2016 A, 5% 7/1/24
|
730
|
732
|
|
Fayette County Hosp. Auth. Rev. Bonds (Piedmont Healthcare, Inc. Proj.) Series 2019 A, 5%, tender 7/1/24 (c)
|
2,000
|
2,003
|
|
Fulton County Dev. Auth. Bonds (Piedmont Healthcare, Inc. Proj.) Series 2016 A, 5% 7/1/24
|
1,950
|
1,956
|
|
Georgia Muni. Elec. Auth. Pwr. Rev. Series 2024 B, 3.45% 6/5/24, LOC TD Banknorth, NA, CP
|
10,800
|
10,800
|
|
Houston County Hosp. Auth. Rev. Bonds:
|
|||
Series 2016 A, 5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100)
|
2,260
|
2,260
|
|
Series 2016 B, 5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100) (c)
|
2,500
|
2,500
|
|
Private Colleges & Univs. Auth. Rev. Bonds (The Savannah College of Art and Design Projs.) Series 2014, 5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100)
|
1,165
|
1,165
|
|
TOTAL GEORGIA
|
21,416
|
||
Idaho - 0.1%
|
|||
Idaho Health Facilities Auth. Hosp. Rev. Bonds Series 2013 ID, 3.7%, tender 5/1/24 (c)
|
7,400
|
7,400
|
|
Illinois - 0.8%
|
|||
Chicago Metropolitan Wtr. Reclamation District of Greater Chicago Bonds Series 2021 C, 5% 12/1/24
|
815
|
821
|
|
Cook County Gen. Oblig. Bonds Series 2022 A, 5% 11/15/24
|
2,790
|
2,816
|
|
Illinois Fin. Auth. Rev. Bonds:
|
|||
(Advocate Health Care Network Proj.) Series 2011 B, SIFMA Municipal Swap Index + 0.300% 3.78%, tender 10/24/24 (c)(e)
|
600
|
600
|
|
Series 2014 A, 5% 9/1/24 (Pre-Refunded to 9/1/24 @ 100)
|
500
|
503
|
|
Series 2014:
|
|||
5% 8/1/24
|
955
|
959
|
|
5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100)
|
2,000
|
2,010
|
|
5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100)
|
1,880
|
1,890
|
|
5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100)
|
4,620
|
4,636
|
|
Series 2016 A, 5% 8/15/24 (Escrowed to Maturity)
|
2,185
|
2,196
|
|
Illinois Gen. Oblig. Bonds:
|
|||
Series 2016, 5% 6/1/24
|
5,475
|
5,483
|
|
Series 2017 D, 5% 11/1/24
|
16,120
|
16,217
|
|
Series 2018 A, 4% 5/1/24
|
660
|
660
|
|
Series 2018 B, 5% 10/1/24
|
610
|
614
|
|
Series 2019 A, 5% 11/1/24
|
1,000
|
1,004
|
|
Series 2021 A, 5% 12/1/24
|
445
|
449
|
|
Series 2023 C, 5% 5/1/24
|
1,125
|
1,126
|
|
Series 2023 D, 5% 7/1/24
|
1,620
|
1,625
|
|
Illinois Hsg. Dev. Auth. Bonds Series 2023 G, 3.5%, tender 6/4/24 (c)
|
18,600
|
18,600
|
|
Illinois Reg'l. Trans. Auth. Bonds Series 2017 A, 5% 7/1/24
|
745
|
747
|
|
Illinois Sales Tax Rev. Bonds Series 2016 C, 4% 6/15/24
|
1,610
|
1,610
|
|
TOTAL ILLINOIS
|
64,566
|
||
Kansas - 0.0%
|
|||
Johnson County Unified School District # 233 Bonds Series 2016 A, 4% 9/1/24 (Pre-Refunded to 9/1/24 @ 100)
|
500
|
501
|
|
Wichita Gen. Oblig. BAN Series 2023, 5% 10/15/24
|
995
|
1,003
|
|
TOTAL KANSAS
|
1,504
|
||
Kentucky - 0.1%
|
|||
Kentucky State Property & Buildings Commission Rev. Bonds:
|
|||
Series 2015, 5% 8/1/24
|
1,850
|
1,858
|
|
Series 2016 B, 5% 11/1/24
|
1,000
|
1,009
|
|
Series B, 5% 8/1/24
|
2,645
|
2,656
|
|
TOTAL KENTUCKY
|
5,523
|
||
Louisiana - 0.0%
|
|||
Louisiana Gas & Fuel Tax Rev. Bonds Series 2014 B:
|
|||
5% 5/1/24 (Pre-Refunded to 5/1/24 @ 100)
|
655
|
656
|
|
5% 5/1/24 (Pre-Refunded to 5/1/24 @ 100)
|
680
|
681
|
|
Louisiana Pub. Facilities Auth. Rev. Bonds (Hurricane Recovery Prog.) Series 2014:
|
|||
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
530
|
531
|
|
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
400
|
401
|
|
TOTAL LOUISIANA
|
2,269
|
||
Maryland - 0.2%
|
|||
Maryland Health & Higher Edl. Facilities Auth. Rev. Bonds Series 2014:
|
|||
5% 7/1/24 (Escrowed to Maturity)
|
500
|
502
|
|
5.25% 7/1/24 (Pre-Refunded to 7/1/24 @ 100)
|
1,290
|
1,293
|
|
5.25% 7/1/24 (Pre-Refunded to 7/1/24 @ 100)
|
5,500
|
5,515
|
|
5.25% 7/1/24 (Pre-Refunded to 7/1/24 @ 100)
|
1,320
|
1,325
|
|
Montgomery County Gen. Oblig. Bonds Series 2013 MD, 3.75%, tender 6/3/24 (c)
|
5,600
|
5,600
|
|
TOTAL MARYLAND
|
14,235
|
||
Massachusetts - 0.2%
|
|||
Ashland Gen. Oblig. BAN Series 2023, 5% 10/10/24
|
8,788
|
8,840
|
|
Chicopee Gen. Oblig. BAN Series 2023, 5% 6/13/24
|
3,929
|
3,938
|
|
Southbridge BAN Series 2023, 5% 5/31/24
|
5,000
|
5,010
|
|
TOTAL MASSACHUSETTS
|
17,788
|
||
Michigan - 1.0%
|
|||
Kent Hosp. Fin. Auth. Hosp. Facilities Rev. Bonds (Spectrum Health Sys. Proj.) Series 2015 A, SIFMA Municipal Swap Index + 0.250% 3.7%, tender 10/24/24 (c)(e)
|
2,715
|
2,715
|
|
Michigan Bldg. Auth. Rev. Series 2024, 3.7% 4/25/24, LOC JPMorgan Chase Bank, CP
|
74,300
|
74,300
|
|
Michigan Fin. Auth. Rev. Bonds:
|
|||
(Mid-Michigan Health Sys. Proj.) Series 2014, 5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
530
|
531
|
|
Series 2013 M1, 3.75%, tender 6/3/24 (c)
|
2,100
|
2,100
|
|
Series 2015 A:
|
|||
5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100)
|
1,380
|
1,386
|
|
5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100)
|
370
|
372
|
|
5% 8/1/24 (Pre-Refunded to 8/1/24 @ 100)
|
300
|
301
|
|
Series 2022 A, 5% 4/15/24
|
2,090
|
2,091
|
|
Michigan Hosp. Fin. Auth. Rev. Bonds:
|
|||
Series 2005 A3, 4% 11/1/24
|
275
|
276
|
|
Series 2010 F3, 4%, tender 7/1/24 (c)
|
710
|
711
|
|
TOTAL MICHIGAN
|
84,783
|
||
Minnesota - 0.0%
|
|||
Minnesota Gen. Oblig. Bonds:
|
|||
Series 2019 B, 5% 8/1/24
|
1,000
|
1,004
|
|
Series 2021 A, 5% 9/1/24
|
750
|
753
|
|
Series 2023 D, 5% 8/1/24
|
530
|
532
|
|
TOTAL MINNESOTA
|
2,289
|
||
Nebraska - 0.3%
|
|||
Omaha Pub. Pwr. District Elec. Rev.:
|
|||
Series 2023 A, 3.7% 4/2/24, CP
|
9,950
|
9,950
|
|
Series 2024 A:
|
|||
3.57% 6/4/24, CP
|
5,300
|
5,300
|
|
3.6% 7/1/24, CP
|
7,500
|
7,500
|
|
TOTAL NEBRASKA
|
22,750
|
||
Nevada - 0.1%
|
|||
Clark County School District Bonds:
|
|||
Series 2016 A, 5% 6/15/24
|
3,380
|
3,388
|
|
Series 2016 C, 5% 6/15/24
|
1,085
|
1,087
|
|
Series 2016 E, 5% 6/15/24
|
960
|
962
|
|
Series 2017 A, 5% 6/15/24
|
1,250
|
1,253
|
|
Series 2017 C, 5% 6/15/24
|
570
|
571
|
|
Series 2020 A, 3% 6/15/24
|
575
|
574
|
|
Las Vegas Valley Wtr. District Wtr. Impt. Gen. Oblig. Bonds Series 2021 C, 5% 6/1/24
|
2,685
|
2,690
|
|
TOTAL NEVADA
|
10,525
|
||
New Jersey - 1.1%
|
|||
Bergen County Impt. Auth. Rev. Bonds Series 2023, 4.5% 5/31/24 (Bergen County Gen. Oblig. Guaranteed)
|
15,800
|
15,825
|
|
Branchburg Township BAN Series 2023, 5% 10/10/24
|
6,300
|
6,336
|
|
Brick Township Gen. Oblig. BAN Series 2023, 5% 6/12/24
|
11,233
|
11,261
|
|
East Brunswick Township Gen. Oblig. BAN Series 2023, 5% 7/17/24
|
24,500
|
24,599
|
|
Florence Township BAN Series 2023, 5% 5/31/24
|
6,782
|
6,798
|
|
Freehold Township BAN Series 2023, 5% 10/23/24
|
17,745
|
17,842
|
|
Jefferson Township Gen. Oblig. BAN Series 2023, 5% 6/14/24
|
4,800
|
4,812
|
|
New Jersey Sports & Exposition Auth. Contract Rev. Bonds Series 2018 A, 5% 9/1/24
|
500
|
503
|
|
New Jersey Trans. Trust Fund Auth. Bonds:
|
|||
Series 2004 A, 5.75% 6/15/24
|
525
|
527
|
|
Series 2006 C, 0% 12/15/24
|
1,000
|
974
|
|
Series 2013 A, 5% 6/15/24
|
485
|
486
|
|
Series 2023 A, 5% 6/15/24
|
360
|
361
|
|
Tenafly BAN Series 2023, 4.25% 5/24/24
|
7,100
|
7,108
|
|
Woolwich Township BAN Series 2023, 5% 5/23/24
|
2
|
2
|
|
TOTAL NEW JERSEY
|
97,434
|
||
New York - 1.2%
|
|||
Commack Union Free School District TAN Series 2023, 5% 6/26/24
|
9,000
|
9,019
|
|
Half Hollow Hills Central School District of Huntington & Babylon TAN Series 2023, 4.5% 6/25/24
|
32,600
|
32,640
|
|
Hempstead Town Gen. Oblig. BAN Series 2023, 5% 5/24/24
|
7
|
7
|
|
Horseheads Central School District BAN Series 2023, 4.75% 6/21/24
|
11,451
|
11,479
|
|
Lancaster Central School District BAN Series 2023, 5% 6/7/24
|
12,540
|
12,569
|
|
Saratoga County Gen. Oblig. BAN Series 2023, 5% 9/20/24
|
26,275
|
26,432
|
|
Webster Town BAN Series 2023, 5% 8/28/24
|
11,300
|
11,358
|
|
TOTAL NEW YORK
|
103,504
|
||
North Carolina - 0.0%
|
|||
North Carolina Hsg. Fin. Agcy. Home Ownership Rev. Bonds Series 2022 48, 5% 7/1/24
|
700
|
702
|
|
Ohio - 0.4%
|
|||
American Muni. Pwr. BAN (City of Wapakoneta Proj.) Series 2023, 4.5% 6/21/24 (Ohio Gen. Oblig. Guaranteed)
|
2,470
|
2,474
|
|
Bowling Green City School District BAN Series 2023, 4.75% 6/3/24
|
3,600
|
3,606
|
|
Columbus Gen. Oblig. Bonds Series 2017 A, 4% 4/1/24
|
1,060
|
1,060
|
|
Dublin City School District BAN Series 2023, 5% 12/18/24
|
2,650
|
2,673
|
|
Franklin County Rev. Bonds Series 2013 OH, 3.7%, tender 5/1/24 (c)
|
11,300
|
11,300
|
|
Hamilton Gen. Oblig. BAN Series 2023, 4.5% 12/19/24 (Ohio Gen. Oblig. Guaranteed)
|
3,600
|
3,622
|
|
Ohio Gen. Oblig. Bonds Series 2014 R:
|
|||
5% 5/1/24 (Pre-Refunded to 5/1/24 @ 100)
|
675
|
676
|
|
5% 5/1/24 (Pre-Refunded to 5/1/24 @ 100)
|
820
|
821
|
|
Springfield Gen. Oblig. BAN Series 2024, 4.125% 3/27/25 (Ohio Gen. Oblig. Guaranteed) (h)
|
2,915
|
2,933
|
|
Wyoming City School District BAN Series 2023, 5.5% 5/15/24
|
2,300
|
2,304
|
|
Yellow Springs Exempted Village School District BAN Series 2023, 5% 6/12/24 (Ohio Gen. Oblig. Guaranteed)
|
5,300
|
5,313
|
|
TOTAL OHIO
|
36,782
|
||
Oklahoma - 0.2%
|
|||
Oklahoma City Wtr. Utils. Series 2024 A, 3.58% 4/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), CP
|
20,650
|
20,650
|
|
Oregon - 0.0%
|
|||
Beaverton School District Bonds:
|
|||
Series 2014 B, 5% 6/15/24 (Pre-Refunded to 6/15/24 @ 100)
|
1,400
|
1,403
|
|
Series 2022 B, 5% 6/15/24 (Oregon Gen. Oblig. Guaranteed)
|
1,680
|
1,684
|
|
Salem Hosp. Facility Auth. Rev. Bonds (Salem Health Projs.) Series 2019 A, 5% 5/15/24
|
330
|
330
|
|
TOTAL OREGON
|
3,417
|
||
Pennsylvania - 0.1%
|
|||
Commonwealth Fing. Auth. Rev. Bonds Series 2015 B1, 5% 6/1/24
|
950
|
951
|
|
Commonwealth Fing. Auth. Tobacco Bonds Series 2018, 5% 6/1/24
|
2,020
|
2,024
|
|
Philadelphia Wtr. & Wastewtr. Rev. Bonds Series 2015 A, 5% 7/1/24 (Pre-Refunded to 7/1/24 @ 100)
|
650
|
652
|
|
TOTAL PENNSYLVANIA
|
3,627
|
||
South Carolina - 0.5%
|
|||
Anderson County School District No. 004 BAN Series 2024, 4% 3/27/25
|
35,400
|
35,575
|
|
Berkeley County School District Bonds Series 2023 A, 5% 5/30/24
|
3,165
|
3,172
|
|
Charleston County School District:
|
|||
BAN (Sales Tax Projs. - Phase V) Series 2023 B, 5% 5/9/24
|
1,020
|
1,021
|
|
TAN Series 2023, 4.5% 4/1/24
|
825
|
825
|
|
Greenville County School District Bonds Series 2023 B, 5% 6/25/24
|
2,355
|
2,361
|
|
TOTAL SOUTH CAROLINA
|
42,954
|
||
Tennessee - 0.2%
|
|||
Memphis Gen. Oblig. Series 2024 A, 3.5% 6/4/24 (Liquidity Facility TD Banknorth, NA), CP
|
17,600
|
17,600
|
|
Texas - 7.4%
|
|||
Austin Elec. Util. Sys. Rev. Series 2024 A:
|
|||
3.59% 6/17/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
20,100
|
20,100
|
|
3.7% 6/5/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
37,300
|
37,300
|
|
3.7% 6/5/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
7,600
|
7,600
|
|
3.7% 6/6/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
13,800
|
13,800
|
|
3.7% 6/6/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
2,100
|
2,100
|
|
Dallas Independent School District Bonds Series 2014 A, 5% 8/15/24 (Pre-Refunded to 8/15/24 @ 100)
|
490
|
492
|
|
Fort Bend Independent School District:
|
|||
Bonds Series 2022 A, 5% 8/15/24 (Permanent School Fund of Texas Guaranteed)
|
1,200
|
1,206
|
|
Series 2024:
|
|||
3.6% 4/10/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
2,500
|
2,500
|
|
3.6% 4/10/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
12,700
|
12,700
|
|
Harris County Cultural Ed. Facilities Fin. Corp. Rev. Bonds:
|
|||
Series 2014 A, 5% 12/1/24
|
1,200
|
1,212
|
|
Series 2023 B2, 3.7% tender 4/1/24, CP mode
|
27,625
|
27,625
|
|
Series 2024 B1, 3.52% tender 6/3/24, CP mode
|
22,700
|
22,700
|
|
Harris County Gen. Oblig.:
|
|||
Series 2024 D:
|
|||
3.7% 6/11/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
10,100
|
10,100
|
|
3.75% 8/1/24 (Liquidity Facility JPMorgan Chase Bank), CP
|
7,620
|
7,620
|
|
Series 2024 D2:
|
|||
3.55% 6/4/24 (Liquidity Facility State Street Bank & Trust Co., Boston), CP
|
6,500
|
6,500
|
|
3.65% 5/3/24 (Liquidity Facility State Street Bank & Trust Co., Boston), CP
|
3,150
|
3,150
|
|
Series 2024 K2, 3.5% 4/18/24, LOC Barclays Bank PLC, CP
|
2,630
|
2,630
|
|
Houston Higher Ed. Fin. Corp. Higher Ed. Rev. Series 2024 A, 3.65% 5/24/24, CP
|
7,000
|
7,000
|
|
Houston Util. Sys. Rev. Bonds Series 2014 C, 5% 5/15/24
|
1,565
|
1,567
|
|
Leander Independent School District Bonds:
|
|||
Series 2014 C:
|
|||
0% 8/15/24 (Pre-Refunded to 8/15/24 @ 25.261)
|
1,335
|
335
|
|
0% 8/15/24 (Pre-Refunded to 8/15/24 @ 32.395)
|
6,700
|
2,187
|
|
Series 2022, 5% 8/15/24 (Permanent School Fund of Texas Guaranteed)
|
1,200
|
1,205
|
|
Lower Colorado River Auth. Rev. Series 2023, 3.7% 4/16/24, LOC JPMorgan Chase Bank, LOC State Street Bank & Trust Co., Boston, CP
|
35,400
|
35,400
|
|
New Hope Cultural Ed. Facilities Fin. Corp. Bonds (CHF - Collegiate Hsg. Stephenville II, L.L.C. - Tarleton State Univ. Proj.) Series 2014 A, 5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100)
|
1,335
|
1,335
|
|
Red Riv Health Facilities Dev. Corp. T Bonds (MRC The Crossings Proj.) Series 2014 A, 7.75% 11/15/24 (Pre-Refunded to 11/15/24 @ 100)
|
1,815
|
1,859
|
|
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Bonds (Baylor Health Care Sys. Proj.):
|
|||
Series 2011 B, SIFMA Municipal Swap Index + 0.300% 3.78%, tender 10/24/24 (c)(e)
|
8,400
|
8,400
|
|
Series 2013 B, SIFMA Municipal Swap Index + 0.300% 3.78%, tender 10/24/24 (c)(e)
|
2,400
|
2,400
|
|
Texas A&M Univ. Rev.:
|
|||
Bonds Series 2016 E, 5% 5/15/24
|
610
|
611
|
|
Series 2024 B:
|
|||
3.6% 6/3/24, CP
|
12,900
|
12,900
|
|
3.6% 6/5/24, CP
|
18,000
|
18,000
|
|
Texas Pub. Fin. Auth. Rev. Series 2024 B, 3.65% 5/8/24 (Liquidity Facility Texas Gen. Oblig.), CP
|
39,775
|
39,775
|
|
Texas Trans. Commission State Hwy. Fund Rev. Bonds Series 2014 A:
|
|||
5% 4/1/24
|
1,330
|
1,330
|
|
5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100)
|
750
|
750
|
|
5% 4/1/24 (Pre-Refunded to 4/1/24 @ 100)
|
2,130
|
2,130
|
|
Texas Wtr. Dev. Board Rev. Bonds:
|
|||
Series 2018 B, 5% 10/15/24
|
950
|
955
|
|
Series 2022, 5% 8/1/24
|
640
|
643
|
|
Univ. of Texas Board of Regents Sys. Rev.:
|
|||
Series 2023 A:
|
|||
3.65% 4/3/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
18,000
|
18,000
|
|
3.65% 4/4/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
18,000
|
18,000
|
|
3.7% 4/23/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
7,200
|
7,200
|
|
3.7% 4/24/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
18,100
|
18,100
|
|
3.7% 4/25/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
3,600
|
3,600
|
|
Series 2024 A:
|
|||
3.45% 9/19/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.45% 9/20/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
9,700
|
9,700
|
|
3.45% 10/16/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
10,300
|
10,300
|
|
3.48% 10/15/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
6,800
|
6,800
|
|
3.48% 10/18/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
3,500
|
3,500
|
|
3.5% 8/13/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,700
|
13,700
|
|
3.5% 8/14/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
5,000
|
5,000
|
|
3.5% 10/17/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
4,250
|
4,250
|
|
3.52% 7/16/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.52% 7/17/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
11,800
|
11,800
|
|
3.52% 8/15/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
17,900
|
17,900
|
|
3.53% 7/2/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.53% 7/10/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.55% 6/20/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.55% 6/21/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.55% 8/2/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
10,650
|
10,650
|
|
3.55% 8/5/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
8,100
|
8,100
|
|
3.55% 8/15/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
3.55% 8/15/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
7,400
|
7,400
|
|
3.58% 5/28/24 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP
|
13,500
|
13,500
|
|
Univ. of Texas Permanent Univ. Fund Rev. Series 2024 A:
|
|||
3.5% 6/25/24, CP
|
7,200
|
7,200
|
|
3.53% 5/15/24, CP
|
18,000
|
18,000
|
|
3.6% 5/21/24, CP
|
10,900
|
10,900
|
|
TOTAL TEXAS
|
636,217
|
||
Utah - 0.1%
|
|||
Utah County Hosp. Rev. Bonds:
|
|||
Series 2018 B2, 5%, tender 8/1/24 (c)
|
625
|
626
|
|
Series 2020 B1, 5%, tender 8/1/24 (c)
|
2,935
|
2,949
|
|
TOTAL UTAH
|
3,575
|
||
Washington - 0.2%
|
|||
King County Gen. Oblig. Series 2024 A, 3.55% 5/10/24, CP
|
18,000
|
18,000
|
|
Wisconsin - 0.8%
|
|||
Madison Metropolitan School District TRAN Series 2023, 5% 9/3/24
|
15,100
|
15,175
|
|
Wisconsin Clean Wtr. Rev. Bonds:
|
|||
Series 2015 1:
|
|||
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
3,305
|
3,311
|
|
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
810
|
811
|
|
Series 2016 1:
|
|||
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
350
|
350
|
|
5% 6/1/24 (Pre-Refunded to 6/1/24 @ 100)
|
900
|
902
|
|
Wisconsin Gen. Oblig.:
|
|||
Bonds:
|
|||
Series 2015 1, 5% 5/1/24
|
235
|
235
|
|
Series 2015 C, 5% 5/1/24
|
405
|
405
|
|
Series 2024:
|
|||
3.7% 11/12/24, CP
|
17,200
|
17,200
|
|
3.8% 12/2/24, CP
|
18,200
|
18,200
|
|
3.8% 12/10/24, CP
|
10,254
|
10,254
|
|
Wisconsin Health & Edl. Facilities Bonds:
|
|||
Series 2013 B1, 4% 11/15/24
|
680
|
679
|
|
Series 2018 B, 5%, tender 1/29/25 (c)
|
2,290
|
2,316
|
|
TOTAL WISCONSIN
|
69,838
|
||
TOTAL OTHER MUNICIPAL SECURITY
(Cost $1,514,749)
|
1,514,749
|
||
Investment Company - 11.4%
|
|||
Shares
|
Value ($)
(000s)
|
||
Fidelity Tax-Free Cash Central Fund 3.59% (i)(j)
(Cost $972,777)
|
972,427
|
972,777
|
|
TOTAL INVESTMENT IN SECURITIES - 99.2%
(Cost $8,480,761)
|
8,480,761
|
NET OTHER ASSETS (LIABILITIES) - 0.8%
|
72,317
|
NET ASSETS - 100.0%
|
8,553,078
|
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)
|
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 $81,885,000 or 1.0% of net assets.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(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 $15,600,000 or 0.2% of net assets.
|
(e)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
(f)
|
Provides evidence of ownership in one or more underlying municipal bonds.
|
(g)
|
Coupon rates are determined by re-marketing agents based on current market conditions.
|
(h)
|
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
|
(i)
|
Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Tax-Free Cash Central Fund.
|
(j)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|
Additional information on each restricted holding is as follows:
|
||
Security
|
Acquisition Date
|
Cost ($)
(000s)
|
Central Puget Sound Reg'l. Trans. Auth. Sales & Use Tax Rev. Bonds Series G 123, 3.65%, tender 5/1/24 (Liquidity Facility Royal Bank of Canada)
|
11/01/23
|
2,000
|
El Paso Wtr. & Swr. Rev. Bonds Series G 124, 3.65%, tender 9/3/24 (Liquidity Facility Royal Bank of Canada)
|
3/01/24
|
2,700
|
Port Auth. of New York & New Jersey Series 1997 2, SIFMA Municipal Swap Index + 0.050% 3.69% 4/29/24, VRDN
|
7/15/20
|
7,300
|
Texas Wtr. Dev. Board Rev. Bonds Series MS 00 17, 3.6%, tender 4/25/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah)
|
10/12/23
|
3,600
|
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 Tax-Free Cash Central Fund 3.59%
|
440,577
|
4,777,699
|
4,245,499
|
32,569
|
-
|
-
|
972,777
|
74.6%
|
Total
|
440,577
|
4,777,699
|
4,245,499
|
32,569
|
-
|
-
|
972,777
|
|
Statement of Assets and Liabilities
|
||||
Amounts in thousands (except per-share amounts)
|
March 31, 2024
|
|||
Assets
|
||||
Investment in securities, at value - See accompanying schedule:
|
||||
Unaffiliated issuers (cost $7,507,984)
|
$
|
7,507,984
|
||
Fidelity Central Funds (cost $972,777)
|
972,777
|
|||
Total Investment in Securities (cost $8,480,761)
|
$
|
8,480,761
|
||
Receivable for securities sold on a delayed delivery basis
|
61,000
|
|||
Receivable for fund shares sold
|
79,377
|
|||
Interest receivable
|
46,186
|
|||
Distributions receivable from Fidelity Central Funds
|
2,877
|
|||
Prepaid expenses
|
3
|
|||
Receivable from investment adviser for expense reductions
|
280
|
|||
Other receivables
|
92
|
|||
Total assets
|
8,670,576
|
|||
Liabilities
|
||||
Payable to custodian bank
|
$
|
51,847
|
||
Payable for investments purchased
|
||||
Regular delivery
|
46,569
|
|||
Delayed delivery
|
14,743
|
|||
Payable for fund shares redeemed
|
2,648
|
|||
Distributions payable
|
83
|
|||
Accrued management fee
|
973
|
|||
Distribution and service plan fees payable
|
4
|
|||
Other affiliated payables
|
474
|
|||
Other payables and accrued expenses
|
157
|
|||
Total liabilities
|
117,498
|
|||
Net Assets
|
$
|
8,553,078
|
||
Net Assets consist of:
|
||||
Paid in capital
|
$
|
8,552,453
|
||
Total accumulated earnings (loss)
|
625
|
|||
Net Assets
|
$
|
8,553,078
|
||
Net Asset Value and Maximum Offering Price
|
||||
Class I :
|
||||
Net Asset Value, offering price and redemption price per share ($8,509,328 ÷ 8,504,296 shares)
|
$
|
1.00
|
||
Class II :
|
||||
Net Asset Value, offering price and redemption price per share ($14,805 ÷ 14,798 shares)
|
$
|
1.00
|
||
Class III :
|
||||
Net Asset Value, offering price and redemption price per share ($3,971 ÷ 3,970 shares)
|
$
|
1.00
|
||
Select Class :
|
||||
Net Asset Value, offering price and redemption price per share ($24,974 ÷ 24,957 shares)
|
$
|
1.00
|
Statement of Operations
|
||||
Amounts in thousands
|
Year ended
March 31, 2024
|
|||
Investment Income
|
||||
Interest
|
$
|
216,268
|
||
Income from Fidelity Central Funds
|
32,569
|
|||
Total income
|
248,837
|
|||
Expenses
|
||||
Management fee
|
$
|
10,060
|
||
Transfer agent fees
|
4,311
|
|||
Distribution and service plan fees
|
42
|
|||
Accounting fees and expenses
|
599
|
|||
Custodian fees and expenses
|
63
|
|||
Independent trustees' fees and expenses
|
22
|
|||
Registration fees
|
373
|
|||
Audit
|
41
|
|||
Legal
|
4
|
|||
Miscellaneous
|
22
|
|||
Total expenses before reductions
|
15,537
|
|||
Expense reductions
|
(2,552)
|
|||
Total expenses after reductions
|
12,985
|
|||
Net Investment income (loss)
|
235,852
|
|||
Realized and Unrealized Gain (Loss)
|
||||
Net realized gain (loss) on:
|
||||
Investment Securities:
|
||||
Unaffiliated issuers
|
133
|
|||
Capital gain distributions from Fidelity Central Funds
|
19
|
|||
Total net realized gain (loss)
|
152
|
|||
Net increase in net assets resulting from operations
|
$
|
236,004
|
Statement of Changes in Net Assets
|
||||
Amount in thousands
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
||
Increase (Decrease) in Net Assets
|
||||
Operations
|
||||
Net investment income (loss)
|
$
|
235,852
|
$
|
106,876
|
Net realized gain (loss)
|
152
|
(61)
|
||
Net increase in net assets resulting from operations
|
236,004
|
106,815
|
||
Distributions to shareholders
|
(235,748)
|
(106,820)
|
||
Share transactions - net increase (decrease)
|
2,240,442
|
1,847,410
|
||
Total increase (decrease) in net assets
|
2,240,698
|
1,847,405
|
||
Net Assets
|
||||
Beginning of period
|
6,312,380
|
4,464,975
|
||
End of period
|
$
|
8,553,078
|
$
|
6,312,380
|
Tax-Exempt Portfolio Class I |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.033
|
.017
|
- B
|
.001
|
.013
|
|||||
Net realized and unrealized gain (loss)
|
- B
|
- B
|
- B
|
- B
|
.001
|
|||||
Total from investment operations
|
.033
|
.017
|
- B
|
.001
|
.014
|
|||||
Distributions from net investment income
|
(.033)
|
(.017)
|
- B
|
(.001)
|
(.013)
|
|||||
Distributions from net realized gain
|
-
|
-
|
-
|
-
|
- B
|
|||||
Total distributions
|
(.033)
|
(.017)
|
- B
|
(.001)
|
(.014) C
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return D
|
3.33 % |
1.72%
|
.03%
|
.12%
|
1.36%
|
|||||
Ratios to Average Net Assets A,E,F
|
||||||||||
Expenses before reductions
|
.22%
|
.22%
|
.22%
|
.22%
|
.21%
|
|||||
Expenses net of fee waivers, if any
|
.18 % |
.18%
|
.10%
|
.17%
|
.18%
|
|||||
Expenses net of all reductions
|
.18%
|
.18%
|
.10%
|
.17%
|
.18%
|
|||||
Net investment income (loss)
|
3.28%
|
1.73%
|
.03%
|
.13%
|
1.34%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
8,509
|
$
|
6,275
|
$
|
4,457
|
$
|
4,748
|
$
|
6,568
|
Tax-Exempt Portfolio Class II |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.031
|
.016
|
- B
|
.001
|
.012
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.031
|
.016
|
- B
|
.001
|
.012
|
|||||
Distributions from net investment income
|
(.031)
|
(.016)
|
- B
|
(.001)
|
(.012)
|
|||||
Distributions from net realized gain
|
-
|
-
|
-
|
-
|
- B
|
|||||
Total distributions
|
(.031)
|
(.016)
|
- B
|
(.001)
|
(.012)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
3.17 % |
1.57%
|
.02%
|
.06%
|
1.21%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.37%
|
.37%
|
.37%
|
.37%
|
.36%
|
|||||
Expenses net of fee waivers, if any
|
.33 % |
.33%
|
.11%
|
.21%
|
.33%
|
|||||
Expenses net of all reductions
|
.33%
|
.33%
|
.11%
|
.21%
|
.33%
|
|||||
Net investment income (loss)
|
3.13%
|
1.58%
|
.01%
|
.08%
|
1.19%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
15
|
$
|
17
|
$
|
- F
|
$
|
- F
|
$
|
- F
|
Tax-Exempt Portfolio Class III |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.030
|
.015
|
- B
|
- B
|
.011
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.030
|
.015
|
- B
|
- B
|
.011
|
|||||
Distributions from net investment income
|
(.030)
|
(.015)
|
- B
|
- B
|
(.011)
|
|||||
Distributions from net realized gain
|
-
|
-
|
-
|
-
|
- B
|
|||||
Total distributions
|
(.030)
|
(.015)
|
- B
|
- B
|
(.011)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
3.07 % |
1.46%
|
.01%
|
.05%
|
1.11%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.47%
|
.47%
|
.48%
|
.46%
|
.46%
|
|||||
Expenses net of fee waivers, if any
|
.43 % |
.43%
|
.13%
|
.23%
|
.43%
|
|||||
Expenses net of all reductions
|
.43%
|
.43%
|
.13%
|
.23%
|
.43%
|
|||||
Net investment income (loss)
|
3.04%
|
1.48%
|
(.01)%
|
.07%
|
1.09%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
4
|
$
|
6
|
$
|
7
|
$
|
2
|
$
|
2
|
Tax-Exempt Portfolio Select Class |
Years ended March 31,
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||
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
|
.032
|
.017
|
- B
|
.001
|
.013
|
|||||
Net realized and unrealized gain (loss) B
|
-
|
-
|
-
|
-
|
-
|
|||||
Total from investment operations
|
.032
|
.017
|
- B
|
.001
|
.013
|
|||||
Distributions from net investment income
|
(.032)
|
(.017)
|
- B
|
(.001)
|
(.013)
|
|||||
Distributions from net realized gain
|
-
|
-
|
-
|
-
|
- B
|
|||||
Total distributions
|
(.032)
|
(.017)
|
- B
|
(.001)
|
(.013)
|
|||||
Net asset value, end of period
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
$
|
1.00
|
Total Return C
|
3.28 % |
1.67%
|
.02%
|
.09%
|
1.31%
|
|||||
Ratios to Average Net Assets A,D,E
|
||||||||||
Expenses before reductions
|
.27%
|
.27%
|
.27%
|
.27%
|
.26%
|
|||||
Expenses net of fee waivers, if any
|
.23 % |
.23%
|
.10%
|
.19%
|
.23%
|
|||||
Expenses net of all reductions
|
.23%
|
.23%
|
.10%
|
.19%
|
.23%
|
|||||
Net investment income (loss)
|
3.23%
|
1.68%
|
.03%
|
.11%
|
1.29%
|
|||||
Supplemental Data
|
||||||||||
Net assets, end of period (in millions)
|
$
|
25
|
$
|
15
|
$
|
1
|
$
|
3
|
$
|
3
|
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%
|
Treasury Only Portfolio
|
$681
|
Treasury Portfolio
|
467
|
Government Portfolio
|
1,674
|
Money Market Portfolio
|
1,092
|
Tax-Exempt Portfolio
|
88
|
Tax cost ($)
|
Gross unrealized appreciation ($)
|
Gross unrealized depreciation ($)
|
Net unrealized appreciation (depreciation)($)
|
|
Treasury Only Portfolio
|
75,697,747
|
-
|
-
|
-
|
Treasury Portfolio
|
62,703,185
|
-
|
-
|
-
|
Government Portfolio
|
203,017,889
|
-
|
-
|
-
|
Money Market Portfolio
|
128,675,869
|
-
|
-
|
-
|
Tax-Exempt Portfolio
|
8,480,761
|
-
|
-
|
-
|
Undistributed tax-exempt income ($)
|
Undistributed ordinary income ($)
|
Undistributed long-term capital gain ($)
|
Capital loss carryforward ($)
|
Net unrealized appreciation (depreciation) on securities and other investments ($)
|
|
Treasury Only Portfolio
|
-
|
231
|
-
|
-
|
-
|
Treasury Portfolio
|
-
|
-
|
-
|
(82)
|
-
|
Government Portfolio
|
-
|
279
|
-
|
(1,216)
|
-
|
Money Market Portfolio
|
-
|
500
|
-
|
(16)
|
-
|
Tax-Exempt Portfolio
|
624
|
-
|
-
|
-
|
-
|
Short-term ($)
|
Long-term ($)
|
Total capital loss carryforward ($)
|
|
Treasury Portfolio
|
-
|
(82)
|
(82)
|
Government Portfolio
|
-
|
(1,216)
|
(1,216)
|
Money Market Portfolio
|
(16)
|
-
|
(16)
|
March 31, 2024
|
|||
Tax-Exempt Income ($)
|
Ordinary Income ($)
|
Total ($)
|
|
Treasury Only Portfolio
|
-
|
2,834,993
|
2,834,993
|
Treasury Portfolio
|
-
|
3,002,772
|
3,002,772
|
Government Portfolio
|
-
|
9,467,184
|
9,467,184
|
Money Market Portfolio
|
-
|
5,846,436
|
5,846,436
|
Tax-Exempt Portfolio
|
235,748
|
-
|
235,748
|
March 31, 2023
|
|||
Tax-Exempt Income ($)
|
Ordinary Income ($)
|
Total ($)
|
|
Treasury Only Portfolio
|
-
|
904,209
|
904,209
|
Treasury Portfolio
|
-
|
1,014,763
|
1,014,763
|
Government Portfolio
|
-
|
3,268,145
|
3,268,145
|
Money Market Portfolio
|
-
|
2,148,294
|
2,148,294
|
Tax-Exempt Portfolio
|
106,820
|
-
|
106,820
|
Distribution Fee
|
Service Fee
|
|
Class II
|
.00%
|
.15%
|
Class III
|
.00%
|
.25%
|
Class IV
|
.25%
|
.25%
|
Select Class
|
.00%
|
.05%
|
Total Fees ($)
|
Retained by FDC ($)
|
|
Treasury Only Portfolio:
|
||
Class II
|
3,542
|
-
|
Class III
|
6,749
|
-
|
Class IV
|
4,453
|
-
|
Select Class
|
706
|
-
|
15,450
|
-
|
|
Treasury Portfolio:
|
||
Class II
|
963
|
-
|
Class III
|
9,396
|
-
|
Class IV
|
4,613
|
-
|
Select Class
|
133
|
-A
|
15,105
|
-
|
|
Government Portfolio:
|
||
Class II
|
2,108
|
-
|
Class III
|
13,445
|
-
|
Select Class
|
103
|
-
|
15,656
|
-
|
|
Money Market Portfolio:
|
||
Class II
|
124
|
-
|
Class III
|
51
|
-
|
Select Class
|
29
|
-
|
204
|
-
|
|
Tax-Exempt Portfolio:
|
||
Class II
|
23
|
-A
|
Class III
|
9
|
-A
|
Select Class
|
10
|
-A
|
42
|
-
|
Treasury Only Portfolio
|
|
Class I
|
$8,943
|
Class II
|
1,417
|
Class III
|
1,620
|
Class IV
|
534
|
Select Class
|
847
|
Institutional Class
|
10,216
|
$23,577
|
|
Treasury Portfolio
|
|
Class I
|
$13,245
|
Class II
|
385
|
Class III
|
2,255
|
Class IV
|
554
|
Select Class
|
159
|
Institutional Class
|
9,286
|
$25,884
|
|
Government Portfolio
|
|
Class I
|
$24,415
|
Class II
|
843
|
Class III
|
3,227
|
Select Class
|
124
|
Institutional Class
|
40,772
|
$69,381
|
|
Money Market Portfolio
|
|
Class I
|
$29,304
|
Class II
|
49
|
Class III
|
12
|
Select Class
|
35
|
Institutional Class
|
18,783
|
$48,183
|
|
Tax-Exempt Portfolio
|
|
Class I
|
$4,288
|
Class II
|
9
|
Class III
|
2
|
Select Class
|
12
|
$4,311
|
% of Average Net Assets
|
|
Treasury Only Portfolio
|
-A
|
Treasury Portfolio
|
-A
|
Government Portfolio
|
-A
|
Money Market Portfolio
|
-A
|
Tax-Exempt Portfolio
|
.01
|
Average Loan Balance ($)
|
Weighted Average Interest Rate
|
||
Money Market Portfolio
|
Lender
|
35,092
|
5.50%
|
Purchases ($)
|
Sales ($)
|
Realized Gain (Loss)($)
|
|
Treasury Only Portfolio
|
-
|
-
|
-
|
Treasury Portfolio
|
-
|
-
|
-
|
Government Portfolio
|
-
|
-
|
-
|
Money Market Portfolio
|
-
|
-
|
-
|
Tax-Exempt Portfolio
|
201,008
|
383,345
|
-
|
Amount ($)
|
|
Treasury Only Portfolio
|
2
|
Money Market Portfolio
|
2
|
Expense Limitations
|
Reimbursement ($)
|
|
Treasury Only Portfolio
|
||
Class I
|
.18%
|
4,679
|
Class II
|
.33%
|
741
|
Class III
|
.43%
|
854
|
Class IV
|
.68%
|
284
|
Select Class
|
.23%
|
446
|
Institutional Class
|
.14%
|
14,130
|
Treasury Portfolio
|
||
Class I
|
.18%
|
6,314
|
Class II
|
.33%
|
184
|
Class III
|
.43%
|
1,084
|
Class IV
|
.68%
|
262
|
Select Class
|
.23%
|
76
|
Institutional Class
|
.14%
|
11,925
|
Government Portfolio
|
||
Class I
|
.18%
|
10,795
|
Class II
|
.33%
|
369
|
Class III
|
.43%
|
1,429
|
Select Class
|
.23%
|
55
|
Institutional Class
|
.14%
|
49,594
|
Money Market Portfolio
|
||
Class I
|
.18%
|
14,479
|
Class II
|
.33%
|
24
|
Class III
|
.43%
|
6
|
Select Class
|
.23%
|
17
|
Institutional Class
|
.14%
|
24,815
|
Tax-Exempt Portfolio
|
||
Class I
|
.18%
|
2,525
|
Class II
|
.33%
|
5
|
Class III
|
.43%
|
1
|
Select Class
|
.23%
|
7
|
Custodian credits ($)
|
Transfer Agent credits ($)
|
||
Treasury Only Portfolio
|
110
|
1
|
|
Treasury Portfolio
|
66
|
1
|
|
Government Portfolio
|
219
|
1
|
|
Money Market Portfolio
|
80
|
-A
|
|
Tax-Exempt Portfolio
|
14
|
-A
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
|
Treasury Only Portfolio
|
||
Distributions to shareholders
|
||
Class I
|
$749,752
|
$292,089
|
Class II
|
114,830
|
36,661
|
Class III
|
128,732
|
39,816
|
Class IV
|
40,233
|
8,738
|
Select Class
|
70,444
|
13,274
|
Institutional Class
|
1,731,002
|
513,631
|
Total
|
$2,834,993
|
$904,209
|
Treasury Portfolio
|
||
Distributions to shareholders
|
||
Class I
|
$1,131,883
|
$406,305
|
Class II
|
32,034
|
8,604
|
Class III
|
183,585
|
62,273
|
Class IV
|
42,660
|
20,442
|
Select Class
|
13,458
|
6,353
|
Institutional Class
|
1,599,152
|
510,786
|
Total
|
$3,002,772
|
$1,014,763
|
Government Portfolio
|
||
Distributions to shareholders
|
||
Class I
|
$2,087,261
|
$850,204
|
Class II
|
70,272
|
20,557
|
Class III
|
263,369
|
92,362
|
Select Class
|
10,504
|
5,537
|
Institutional Class
|
7,035,778
|
2,299,485
|
Total
|
$9,467,184
|
$3,268,145
|
Money Market Portfolio
|
||
Distributions to shareholders
|
||
Class I
|
$2,547,512
|
$908,704
|
Class II
|
4,147
|
2,450
|
Class III
|
997
|
413
|
Select Class
|
3,047
|
1,028
|
Institutional Class
|
3,290,733
|
1,235,699
|
Total
|
$5,846,436
|
$2,148,294
|
Tax-Exempt Portfolio
|
||
Distributions to shareholders
|
||
Class I
|
$234,515
|
$106,405
|
Class II
|
484
|
211
|
Class III
|
112
|
73
|
Select Class
|
637
|
131
|
Total
|
$235,748
|
$106,820
|
Shares
|
Shares
|
Dollars
|
Dollars
|
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
Year ended
March 31, 2024
|
Year ended
March 31, 2023
|
|
Treasury Only Portfolio
|
||||
Class I
|
||||
Shares sold
|
37,395,469
|
71,045,216
|
$37,395,469
|
$71,045,216
|
Reinvestment of distributions
|
451,132
|
163,747
|
451,132
|
163,747
|
Shares redeemed
|
(34,387,976)
|
(68,743,099)
|
(34,387,976)
|
(68,743,099)
|
Net increase (decrease)
|
3,458,625
|
2,465,864
|
$3,458,625
|
$2,465,864
|
Class II
|
||||
Shares sold
|
7,939,989
|
5,203,559
|
$7,939,989
|
$5,203,559
|
Reinvestment of distributions
|
4,104
|
1,799
|
4,104
|
1,799
|
Shares redeemed
|
(7,414,326)
|
(4,135,452)
|
(7,414,326)
|
(4,135,452)
|
Net increase (decrease)
|
529,767
|
1,069,906
|
$529,767
|
$1,069,906
|
Class III
|
||||
Shares sold
|
6,498,299
|
5,754,811
|
$6,498,299
|
$5,754,811
|
Reinvestment of distributions
|
31,120
|
11,907
|
31,120
|
11,907
|
Shares redeemed
|
(6,085,724)
|
(4,438,239)
|
(6,085,724)
|
(4,438,239)
|
Net increase (decrease)
|
443,695
|
1,328,479
|
$443,695
|
$1,328,479
|
Class IV
|
||||
Shares sold
|
4,096,094
|
1,847,197
|
$4,096,094
|
$1,847,197
|
Reinvestment of distributions
|
40,227
|
8,738
|
40,227
|
8,738
|
Shares redeemed
|
(3,553,469)
|
(1,256,999)
|
(3,553,469)
|
(1,256,999)
|
Net increase (decrease)
|
582,852
|
598,936
|
$582,852
|
$598,936
|
Select Class
|
||||
Shares sold
|
2,444,779
|
2,472,295
|
$2,444,779
|
$2,472,295
|
Reinvestment of distributions
|
33,115
|
5,479
|
33,115
|
5,479
|
Shares redeemed
|
(1,787,402)
|
(1,532,071)
|
(1,787,402)
|
(1,532,071)
|
Net increase (decrease)
|
690,492
|
945,703
|
$690,492
|
$945,703
|
Institutional Class
|
||||
Shares sold
|
84,060,436
|
64,828,670
|
$84,060,436
|
$64,828,670
|
Reinvestment of distributions
|
1,155,892
|
366,152
|
1,155,892
|
366,152
|
Shares redeemed
|
(69,680,459)
|
(53,869,257)
|
(69,680,459)
|
(53,869,257)
|
Net increase (decrease)
|
15,535,869
|
11,325,565
|
$15,535,869
|
$11,325,565
|
Treasury Portfolio
|
||||
Class I
|
||||
Shares sold
|
93,821,353
|
87,123,200
|
$93,821,353
|
$87,123,200
|
Reinvestment of distributions
|
434,699
|
147,955
|
434,699
|
147,955
|
Shares redeemed
|
(94,227,636)
|
(73,842,449)
|
(94,227,636)
|
(73,842,449)
|
Net increase (decrease)
|
28,416
|
13,428,706
|
$28,416
|
$13,428,706
|
Class II
|
||||
Shares sold
|
1,707,481
|
1,710,950
|
$1,707,481
|
$1,710,950
|
Reinvestment of distributions
|
14,934
|
2,617
|
14,934
|
2,617
|
Shares redeemed
|
(1,470,956)
|
(1,611,265)
|
(1,470,956)
|
(1,611,265)
|
Net increase (decrease)
|
251,459
|
102,302
|
$251,459
|
$102,302
|
Class III
|
||||
Shares sold
|
11,352,565
|
8,240,069
|
$11,352,565
|
$8,240,069
|
Reinvestment of distributions
|
23,728
|
7,486
|
23,728
|
7,486
|
Shares redeemed
|
(10,428,268)
|
(7,818,278)
|
(10,428,268)
|
(7,818,278)
|
Net increase (decrease)
|
948,025
|
429,277
|
$948,025
|
$429,277
|
Class IV
|
||||
Shares sold
|
1,485,518
|
2,992,995
|
$1,485,518
|
$2,992,995
|
Reinvestment of distributions
|
975
|
1,570
|
975
|
1,570
|
Shares redeemed
|
(1,591,018)
|
(3,165,464)
|
(1,591,018)
|
(3,165,464)
|
Net increase (decrease)
|
(104,525)
|
(170,899)
|
$(104,525)
|
$(170,899)
|
Select Class
|
||||
Shares sold
|
1,030,994
|
1,640,167
|
$1,030,994
|
$1,640,167
|
Reinvestment of distributions
|
6,724
|
3,035
|
6,724
|
3,035
|
Shares redeemed
|
(992,556)
|
(1,683,699)
|
(992,556)
|
(1,683,699)
|
Net increase (decrease)
|
45,162
|
(40,497)
|
$45,162
|
$(40,497)
|
Institutional Class
|
||||
Shares sold
|
137,892,987
|
136,786,830
|
$137,892,987
|
$136,786,830
|
Reinvestment of distributions
|
1,128,139
|
327,421
|
1,128,139
|
327,421
|
Shares redeemed
|
(138,500,484)
|
(115,372,345)
|
(138,500,484)
|
(115,372,345)
|
Net increase (decrease)
|
520,642
|
21,741,906
|
$520,642
|
$21,741,906
|
Government Portfolio
|
||||
Class I
|
||||
Shares sold
|
355,865,809
|
284,824,099
|
$355,865,809
|
$284,824,099
|
Reinvestment of distributions
|
749,544
|
241,258
|
749,544
|
241,258
|
Shares redeemed
|
(359,253,361)
|
(271,000,112)
|
(359,253,361)
|
(271,000,112)
|
Net increase (decrease)
|
(2,638,008)
|
14,065,245
|
$(2,638,008)
|
$14,065,245
|
Class II
|
||||
Shares sold
|
3,802,127
|
2,161,514
|
$3,802,127
|
$2,161,514
|
Reinvestment of distributions
|
2,908
|
653
|
2,908
|
653
|
Shares redeemed
|
(3,430,423)
|
(2,179,277)
|
(3,430,423)
|
(2,179,277)
|
Net increase (decrease)
|
374,612
|
(17,110)
|
$374,612
|
$(17,110)
|
Class III
|
||||
Shares sold
|
14,237,131
|
9,279,947
|
$14,237,131
|
$9,279,947
|
Reinvestment of distributions
|
79,309
|
28,464
|
79,309
|
28,464
|
Shares redeemed
|
(12,791,629)
|
(8,883,759)
|
(12,791,629)
|
(8,883,759)
|
Net increase (decrease)
|
1,524,811
|
424,652
|
$1,524,811
|
$424,652
|
Select Class
|
||||
Shares sold
|
588,167
|
770,569
|
$588,167
|
$770,569
|
Reinvestment of distributions
|
7,947
|
2,576
|
7,947
|
2,576
|
Shares redeemed
|
(597,224)
|
(847,393)
|
(597,224)
|
(847,393)
|
Net increase (decrease)
|
(1,110)
|
(74,248)
|
$(1,110)
|
$(74,248)
|
Institutional Class
|
||||
Shares sold
|
672,624,741
|
471,547,341
|
$672,624,741
|
$471,547,341
|
Reinvestment of distributions
|
4,656,989
|
1,539,790
|
4,656,989
|
1,539,790
|
Shares redeemed
|
(649,872,754)
|
(443,071,589)
|
(649,872,754)
|
(443,071,589)
|
Net increase (decrease)
|
27,408,976
|
30,015,542
|
$27,408,976
|
$30,015,542
|
Money Market Portfolio
|
||||
Class I
|
||||
Shares sold
|
64,264,388
|
59,955,626
|
$64,264,388
|
$59,955,626
|
Reinvestment of distributions
|
2,175,869
|
778,109
|
2,175,869
|
778,109
|
Shares redeemed
|
(52,890,840)
|
(35,047,364)
|
(52,890,840)
|
(35,047,364)
|
Net increase (decrease)
|
13,549,417
|
25,686,371
|
$13,549,417
|
$25,686,371
|
Class II
|
||||
Shares sold
|
79,007
|
69,630
|
$79,007
|
$69,630
|
Reinvestment of distributions
|
3,963
|
2,346
|
3,963
|
2,346
|
Shares redeemed
|
(77,882)
|
(81,091)
|
(77,882)
|
(81,091)
|
Net increase (decrease)
|
5,088
|
(9,115)
|
$5,088
|
$(9,115)
|
Class III
|
||||
Shares sold
|
16,417
|
46,641
|
$16,417
|
$46,641
|
Reinvestment of distributions
|
860
|
381
|
860
|
381
|
Shares redeemed
|
(30,543)
|
(24,441)
|
(30,543)
|
(24,441)
|
Net increase (decrease)
|
(13,266)
|
22,581
|
$(13,266)
|
$22,581
|
Select Class
|
||||
Shares sold
|
109,021
|
71,281
|
$109,021
|
$71,281
|
Reinvestment of distributions
|
2,166
|
850
|
2,166
|
850
|
Shares redeemed
|
(98,615)
|
(46,643)
|
(98,615)
|
(46,643)
|
Net increase (decrease)
|
12,572
|
25,488
|
$12,572
|
$25,488
|
Institutional Class
|
||||
Shares sold
|
77,480,843
|
83,999,868
|
$77,480,843
|
$83,999,868
|
Reinvestment of distributions
|
3,112,537
|
1,152,023
|
3,112,537
|
1,152,023
|
Shares redeemed
|
(64,278,063)
|
(52,314,234)
|
(64,278,063)
|
(52,314,234)
|
Net increase (decrease)
|
16,315,317
|
32,837,657
|
$16,315,317
|
$32,837,657
|
Tax-Exempt Portfolio
|
||||
Class I
|
||||
Shares sold
|
16,867,520
|
14,924,698
|
$16,867,520
|
$14,924,698
|
Reinvestment of distributions
|
184,777
|
82,845
|
184,777
|
82,845
|
Shares redeemed
|
(14,818,348)
|
(13,189,237)
|
(14,818,348)
|
(13,189,237)
|
Net increase (decrease)
|
2,233,949
|
1,818,306
|
$2,233,949
|
$1,818,306
|
Class II
|
||||
Shares sold
|
686
|
22,079
|
$686
|
$22,079
|
Reinvestment of distributions
|
457
|
165
|
457
|
165
|
Shares redeemed
|
(3,422)
|
(5,561)
|
(3,422)
|
(5,561)
|
Net increase (decrease)
|
(2,279)
|
16,683
|
$(2,279)
|
$16,683
|
Class III
|
||||
Shares sold
|
3,577
|
11,966
|
$3,577
|
$11,966
|
Reinvestment of distributions
|
47
|
40
|
47
|
40
|
Shares redeemed
|
(5,275)
|
(13,048)
|
(5,275)
|
(13,048)
|
Net increase (decrease)
|
(1,651)
|
(1,042)
|
$(1,651)
|
$(1,042)
|
Select Class
|
||||
Shares sold
|
45,501
|
34,583
|
$45,501
|
$34,583
|
Reinvestment of distributions
|
539
|
129
|
539
|
129
|
Shares redeemed
|
(35,617)
|
(21,248)
|
(35,617)
|
(21,248)
|
Net increase (decrease)
|
10,423
|
13,464
|
$10,423
|
$13,464
|
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2023 to March 31, 2024).
|
Annualized Expense Ratio- A
|
Beginning Account Value October 1, 2023
|
Ending Account Value March 31, 2024
|
Expenses Paid During Period- C October 1, 2023 to March 31, 2024
|
|||||||
Treasury Only Portfolio
|
||||||||||
Class I
|
.18%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.50
|
$ .91
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.10
|
$ .91
|
|||||||
Class II
|
.33%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.70
|
$ 1.67
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.35
|
$ 1.67
|
|||||||
Class III
|
.43%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.20
|
$ 2.18
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,022.85
|
$ 2.17
|
|||||||
Class IV
|
.68%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,023.90
|
$ 3.44
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,021.60
|
$ 3.44
|
|||||||
Select Class
|
.23%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.20
|
$ 1.17
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.85
|
$ 1.16
|
|||||||
Institutional Class
|
.14%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.70
|
$ .71
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.30
|
$ .71
|
|||||||
Treasury Portfolio
|
||||||||||
Class I
|
.18%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.40
|
$ .91
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.10
|
$ .91
|
|||||||
Class II
|
.33%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.70
|
$ 1.67
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.35
|
$ 1.67
|
|||||||
Class III
|
.43%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.10
|
$ 2.18
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,022.85
|
$ 2.17
|
|||||||
Class IV
|
.68%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,023.90
|
$ 3.44
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,021.60
|
$ 3.44
|
|||||||
Select Class
|
.23%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.20
|
$ 1.17
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.85
|
$ 1.16
|
|||||||
Institutional Class
|
.14%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.60
|
$ .71
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.30
|
$ .71
|
|||||||
Government Portfolio
|
||||||||||
Class I
|
.18%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.50
|
$ .91
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.10
|
$ .91
|
|||||||
Class II
|
.33%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.70
|
$ 1.67
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.35
|
$ 1.67
|
|||||||
Class III
|
.43%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.20
|
$ 2.18
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,022.85
|
$ 2.17
|
|||||||
Select Class
|
.23%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.20
|
$ 1.17
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.85
|
$ 1.16
|
|||||||
Institutional Class
|
.14%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.70
|
$ .71
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.30
|
$ .71
|
|||||||
Money Market Portfolio
|
||||||||||
Class I
|
.18%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.90
|
$ .91
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.10
|
$ .91
|
|||||||
Class II
|
.33%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.10
|
$ 1.67
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.35
|
$ 1.67
|
|||||||
Class III
|
.43%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,025.60
|
$ 2.18
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,022.85
|
$ 2.17
|
|||||||
Select Class
|
.23%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,026.60
|
$ 1.17
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.85
|
$ 1.16
|
|||||||
Institutional Class
|
.14%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,027.10
|
$ .71
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.30
|
$ .71
|
|||||||
Tax-Exempt Portfolio
|
||||||||||
Class I
|
.18%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,016.80
|
$ .91
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,024.10
|
$ .91
|
|||||||
Class II
|
.33%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,016.00
|
$ 1.66
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.35
|
$ 1.67
|
|||||||
Class III
|
.43%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,015.50
|
$ 2.17
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,022.85
|
$ 2.17
|
|||||||
Select Class
|
.23%
|
|||||||||
Actual
|
$ 1,000
|
$ 1,016.50
|
$ 1.16
|
|||||||
Hypothetical-B
|
$ 1,000
|
$ 1,023.85
|
$ 1.16
|
|||||||
Tax-Exempt Portfolio
|
$ 71,522
|
Treasury Only Portfolio
|
95.60%
|
Treasury Portfolio
|
30.72%
|
Government Portfolio
|
41.71%
|
Money Market Portfolio
|
9.60%
|
Treasury Only Portfolio
|
$2,361,784,685
|
Treasury Portfolio
|
$2,602,527,788
|
Government Portfolio
|
$7,780,252,013
|
Money Market Portfolio
|
$4,265,313,809
|
Tax-Exempt Portfolio
|
$198,049,818
|
Treasury Only Portfolio
|
$2,834,992,604
|
Treasury Portfolio
|
$3,002,772,109
|
Government Portfolio
|
$9,467,183,553
|
Money Market Portfolio
|
$5,846,435,709
|
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
|
||
Proposal 1
|
||
To elect a Board of Trustees.
|
||
# of
Votes
|
% of
Votes
|
|
Abigail P. Johnson
|
||
Affirmative
|
250,334,169,287.56
|
97.82
|
Withheld
|
5,572,265,029.21
|
2.18
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Jennifer Toolin McAuliffe
|
||
Affirmative
|
250,626,463,958.74
|
97.94
|
Withheld
|
5,279,970,358.03
|
2.06
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Christine J. Thompson
|
||
Affirmative
|
250,377,937,638.84
|
97.84
|
Withheld
|
5,528,496,677.93
|
2.16
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Elizabeth S. Acton
|
||
Affirmative
|
250,688,695,554.44
|
97.96
|
Withheld
|
5,217,738,762.33
|
2.04
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Laura M. Bishop
|
||
Affirmative
|
250,380,997,757.69
|
97.84
|
Withheld
|
5,525,436,559.08
|
2.16
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Ann E. Dunwoody
|
||
Affirmative
|
250,741,178,052.55
|
97.98
|
Withheld
|
5,165,256,264.22
|
2.02
|
TOTAL
|
255,906,434,316.77
|
100.00
|
John Engler
|
||
Affirmative
|
251,269,466,168.48
|
98.19
|
Withheld
|
4,636,968,148.29
|
1.81
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Robert F. Gartland
|
||
Affirmative
|
250,980,886,119.35
|
98.08
|
Withheld
|
4,925,548,197.42
|
1.92
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Robert W. Helm
|
||
Affirmative
|
251,525,748,987.06
|
98.29
|
Withheld
|
4,380,685,329.71
|
1.71
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Arthur E. Johnson
|
||
Affirmative
|
250,304,620,077.66
|
97.81
|
Withheld
|
5,601,814,239.11
|
2.19
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Michael E. Kenneally
|
||
Affirmative
|
249,267,410,325.19
|
97.41
|
Withheld
|
6,639,023,991.58
|
2.59
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Mark A. Murray
|
||
Affirmative
|
251,466,743,450.13
|
98.27
|
Withheld
|
4,439,690,866.64
|
1.73
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Carol J. Zierhoffer
|
||
Affirmative
|
250,320,819,780.41
|
97.82
|
Withheld
|
5,585,614,536.36
|
2.18
|
TOTAL
|
255,906,434,316.77
|
100.00
|
Proposal 1 reflects trust-wide proposal and voting results.
|
Item 2.
Code of Ethics
As of the end of the period, March 31, 2024, Fidelity Colchester Street Trust (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 Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, Deloitte Entities) in each of the last two fiscal years for services rendered to Government Portfolio, Money Market Portfolio, Tax-Exempt Portfolio, Treasury Only Portfolio and Treasury Portfolio (the Funds):
Services Billed by Deloitte Entities
March 31, 2024 FeesA
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Government Portfolio | $43,600 | $- | $5,400 | $900 |
Money Market Portfolio | $40,200 | $- | $5,600 | $900 |
Tax-Exempt Portfolio | $31,300 | $- | $5,400 | $800 |
Treasury Only Portfolio | $33,600 | $- | $5,400 | $800 |
Treasury Portfolio | $39,600 | $- | $5,400 | $900 |
March 31, 2023 FeesA
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Government Portfolio | $38,100 | $- | $5,600 | $900 |
Money Market Portfolio | $36,900 | $- | $5,600 | $900 |
Tax-Exempt Portfolio | $31,300 | $- | $8,400 | $700 |
Treasury Only Portfolio | $32,100 | $- | $5,600 | $800 |
Treasury Portfolio | $37,900 | $- | $5,600 | $900 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by Deloitte Entities 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 Deloitte Entities
| March 31, 2024A | March 31, 2023A |
Audit-Related Fees | $75,000 | $80,000 |
Tax Fees | $- | $- |
All Other Fees | $935,000 | $- |
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 Deloitte Entities 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 | March 31, 2024A | March 31, 2023A |
Deloitte Entities | $6,331,000 | $818,000 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMRs 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 trusts Audit Committee must pre-approve all audit and non-audit services provided by a funds 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 Committees 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 Chairs 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 Funds(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 trusts Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trusts 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 trusts 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 trusts internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(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 Colchester Street Trust
By: | /s/Laura M. Del Prato |
| Laura M. Del Prato |
| President and Treasurer (Principal Executive Officer) |
| |
Date: | May 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Laura M. Del Prato |
| Laura M. Del Prato |
| President and Treasurer (Principal Executive Officer) |
| |
Date: | May 22, 2024 |
By: | /s/John J. Burke III |
| John J. Burke III |
| Chief Financial Officer (Principal Financial Officer) |
| |
Date: | May 22, 2024 |