NPORT-EX 2 QTLY_188_20230331.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Ohio Municipal Income Fund
March 31, 2023
OFR-NPRT1-0523
1.814656.118
Municipal Bonds - 88.6%
 
  
Principal
Amount (a)
 
Value ($)
 
Guam - 0.2%
 
  
  
Guam Int'l. Arpt. Auth. Rev. Series 2013 C:
  
  
  
 6.25% 10/1/34 (b)
  
545,000
553,523
 6.25% 10/1/34 (Pre-Refunded to 10/1/23 @ 100) (b)
  
355,000
360,552
 6.375% 10/1/43 (b)
  
355,000
360,767
TOTAL GUAM
  
  
1,274,842
Ohio - 87.3%
 
  
  
Akron Bath Copley Hosp. District Rev.:
  
  
  
 (Summa Health Sys.) Series 2016, 5% 11/15/25
 
1,000,000
1,043,581
 Series 2016:
 
  
  
5% 11/15/26
 
  
535,000
568,206
5.25% 11/15/32
 
  
1,000,000
1,059,596
5.25% 11/15/34
 
  
1,500,000
1,573,768
5.25% 11/15/41
 
  
10,545,000
10,787,117
5.25% 11/15/46
 
  
2,650,000
2,696,160
Akron Income Tax Rev. Series 2022:
  
  
  
 4% 12/1/24
 
1,075,000
1,098,169
 4% 12/1/25
 
1,400,000
1,449,339
 4% 12/1/26
 
1,120,000
1,172,908
 4% 12/1/27
 
1,180,000
1,246,090
 4% 12/1/28
 
1,380,000
1,473,437
 4% 12/1/29
 
1,500,000
1,617,380
 4% 12/1/30
 
1,210,000
1,303,570
 4% 12/1/31
 
1,105,000
1,188,947
 4% 12/1/32
 
1,285,000
1,380,221
 4% 12/1/33
 
1,300,000
1,387,988
Allen County Hosp. Facilities Rev.:
  
  
  
 (Mercy Health) Series 2017 A:
 
  
  
4% 8/1/36
 
  
5,000,000
5,077,264
5% 8/1/42
 
  
4,175,000
4,399,523
 Series 2020 A:
 
  
  
4% 12/1/40
 
  
11,880,000
11,721,543
5% 12/1/35
 
  
750,000
833,273
Bowling Green Univ. Gen. Receipts Series 2016 A, 5% 6/1/42
 
1,000,000
1,043,938
Buckeye Tobacco Settlement Fing. Auth.:
  
  
  
 Series 2020 A2:
 
  
  
3% 6/1/48
 
  
1,500,000
1,097,384
4% 6/1/37
 
  
2,000,000
1,975,645
4% 6/1/38
 
  
1,000,000
979,177
4% 6/1/39
 
  
1,000,000
967,926
4% 6/1/48
 
  
5,750,000
5,074,283
5% 6/1/27
 
  
1,000,000
1,063,515
5% 6/1/35
 
  
2,000,000
2,145,451
5% 6/1/36
 
  
2,000,000
2,128,090
 Series 2020 B2, 5% 6/1/55
 
1,500,000
1,358,132
Butler County Hosp. Facilities Rev. Series 2016 X, 5% 5/15/32
 
3,950,000
4,643,870
Chillicothe Hosp. Facilities Rev. (Adena Health Sys. Oblig. Group Proj.) Series 2017, 5% 12/1/47
 
8,535,000
8,688,274
Cleveland Arpt. Sys. Rev.:
  
  
  
 Series 2018 A:
 
  
  
5% 1/1/43 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
1,750,000
1,809,208
5% 1/1/48 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
3,000,000
3,070,289
 Series 2019 B:
 
  
  
5% 1/1/24 (b)
 
  
1,200,000
1,214,232
5% 1/1/25 (b)
 
  
1,125,000
1,157,393
5% 1/1/26 (b)
 
  
710,000
741,243
5% 1/1/27 (b)
 
  
700,000
741,982
Cleveland Gen. Oblig. Series 2012, 5% 12/1/25
 
25,000
25,043
Cleveland Income Tax Rev. Series 2018 A:
  
  
  
 5% 10/1/29
 
600,000
671,303
 5% 10/1/30
 
420,000
469,595
 5% 10/1/31
 
650,000
724,641
 5% 10/1/33
 
600,000
666,607
 5% 10/1/36
 
700,000
765,542
 5% 10/1/39
 
2,040,000
2,205,619
 5% 10/1/43
 
5,000,000
5,347,532
Cleveland Ohio Wtr. Poll. Ctl. Rev. Series 2016, 5% 11/15/36
 
450,000
467,320
Cleveland Pub. Library Facilities Series 2019 A:
  
  
  
 4% 12/1/33
 
425,000
456,344
 4% 12/1/34
 
370,000
393,767
 4% 12/1/35
 
620,000
655,922
 4% 12/1/36
 
1,400,000
1,444,420
 4% 12/1/37
 
1,115,000
1,143,388
 4% 12/1/38
 
650,000
663,221
Cleveland Pub. Pwr. Sys. Rev.:
  
  
  
 Series 2018:
 
  
  
5% 11/15/24 (Assured Guaranty Muni. Corp. Insured)
 
  
475,000
492,086
5% 11/15/25 (Assured Guaranty Muni. Corp. Insured)
 
  
200,000
212,225
5% 11/15/26 (Assured Guaranty Muni. Corp. Insured)
 
  
265,000
287,866
5% 11/15/27 (Assured Guaranty Muni. Corp. Insured)
 
  
220,000
244,226
5% 11/15/28 (Assured Guaranty Muni. Corp. Insured)
 
  
150,000
168,294
5% 11/15/29 (Assured Guaranty Muni. Corp. Insured)
 
  
210,000
235,494
5% 11/15/30 (Assured Guaranty Muni. Corp. Insured)
 
  
530,000
592,634
5% 11/15/32 (Assured Guaranty Muni. Corp. Insured)
 
  
365,000
405,398
5% 11/15/34 (Assured Guaranty Muni. Corp. Insured)
 
  
785,000
863,978
5% 11/15/36 (Assured Guaranty Muni. Corp. Insured)
 
  
1,000,000
1,087,520
5% 11/15/38 (Assured Guaranty Muni. Corp. Insured)
 
  
830,000
895,198
 Series 2020 A:
 
  
  
4% 11/15/35 (Assured Guaranty Muni. Corp. Insured)
 
  
1,000,000
1,035,660
4% 11/15/36 (Assured Guaranty Muni. Corp. Insured)
 
  
1,000,000
1,022,046
4% 11/15/37 (Assured Guaranty Muni. Corp. Insured)
 
  
1,000,000
1,009,581
Cleveland Wtr. Rev.:
  
  
  
 Series 2015 Y, 4% 1/1/28
 
650,000
656,152
 Series 2020:
 
  
  
5% 1/1/30
 
  
2,000,000
2,327,032
5% 1/1/31
 
  
2,250,000
2,616,206
5% 1/1/32
 
  
1,000,000
1,158,076
Cleveland-Cuyahoga County Port Auth. Dev. Lease Rev. (Administrative Headquarters Proj.) Series 2013, 5% 7/1/37
 
3,000,000
3,519,743
Cleveland-Cuyahoga County Port Auth. Rev. (Euclid Avenue Dev. Corp. Proj.) Series 2022 A:
  
  
  
 5% 8/1/34
 
1,865,000
2,078,843
 5% 8/1/35
 
1,910,000
2,102,317
 5% 8/1/36
 
2,065,000
2,249,994
 5% 8/1/37
 
2,170,000
2,341,569
County of Cuyahoga (Ballpark Impt. Proj.) Series 2022 A:
  
  
  
 4% 1/1/36
 
3,855,000
4,032,502
 4% 1/1/37
 
3,755,000
3,889,066
Cuyahoga County Econ. Dev. Rev.:
  
  
  
 (The Cleveland Orchestra Proj.) Series 2019:
 
  
  
5% 1/1/29
 
  
325,000
360,908
5% 1/1/30
 
  
250,000
279,592
5% 1/1/31
 
  
525,000
586,788
5% 1/1/32
 
  
500,000
558,261
5% 1/1/33
 
  
400,000
445,839
5% 1/1/34
 
  
300,000
334,294
5% 1/1/35
 
  
500,000
553,956
5% 1/1/36
 
  
440,000
483,944
5% 1/1/37
 
  
400,000
435,946
5% 1/1/39
 
  
1,400,000
1,512,195
5% 1/1/40
 
  
1,620,000
1,745,068
 Series 2020 D, 5% 12/1/27
 
2,500,000
2,783,693
Cuyahoga County Hosp. Rev. Series 2017:
  
  
  
 5% 2/15/26
 
1,750,000
1,835,221
 5% 2/15/27
 
1,700,000
1,800,399
 5% 2/15/28
 
2,385,000
2,514,403
 5% 2/15/30
 
3,000,000
3,156,260
 5% 2/15/31
 
1,500,000
1,576,514
 5% 2/15/32
 
1,450,000
1,521,753
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013, 5.25% 6/15/43
 
5,000,000
4,865,302
Franklin County Convention Facilities Auth. (Greater Columbus Convention Ctr. Hotel Expansion Proj.) Series 2019:
  
  
  
 5% 12/1/44
 
2,500,000
2,380,930
 5% 12/1/51
 
6,000,000
5,615,194
Franklin County Convention Facilities Auth. Tax & Lease Rev. Series 2014:
  
  
  
 5% 12/1/25
 
1,250,000
1,293,162
 5% 12/1/26
 
3,045,000
3,149,139
Franklin County Hosp. Facilities Rev.:
  
  
  
 (Ohiohealth Corp. Proj.) Series 2015, 5% 5/15/40
 
3,600,000
3,678,973
 Bonds (U.S. Health Corp. of Columbus Proj.) Series 2011 B, 5%, tender 5/15/23 (c)
  
2,465,000
2,470,577
 Series 2016 C:
 
  
  
4% 11/1/40
 
  
3,000,000
3,005,902
5% 11/1/34
 
  
2,155,000
2,331,590
Hamilton County Convention Facilities Auth. Rev. Series 2014, 5% 12/1/27
 
3,825,000
3,849,159
Hamilton County Healthcare Rev. (Life Enriching Cmntys. Proj.) Series 2016:
  
  
  
 5% 1/1/31
 
1,350,000
1,351,608
 5% 1/1/36
 
3,450,000
3,354,712
Hamilton County Hosp. Facilities Rev. Series 2014, 5% 2/1/44
 
1,275,000
1,277,728
Kent State Univ. Revs.:
  
  
  
 Series 2016, 5% 5/1/30
 
1,125,000
1,195,628
 Series 2020 A:
 
  
  
5% 5/1/45
 
  
1,250,000
1,351,355
5% 5/1/50
 
  
1,700,000
1,826,851
Lake County Hosp. Facilities Rev. Series 2015, 5% 8/15/27 (Pre-Refunded to 8/15/25 @ 100)
 
770,000
804,808
Lancaster Port Auth. Gas Rev.:
  
  
  
 Bonds Series 2019, 5%, tender 2/1/25 (c)
  
6,235,000
6,359,882
 Series 2019, 5% 8/1/24
 
655,000
665,919
Miami County Hosp. Facilities Rev. (Kettering Health Network Obligated Group Proj.) Series 2019:
  
  
  
 5% 8/1/45
 
5,500,000
5,684,606
 5% 8/1/49
 
1,750,000
1,798,431
Miami Univ. Series 2022 A:
  
  
  
 5% 9/1/25
 
780,000
824,166
 5% 9/1/26
 
820,000
886,359
 5% 9/1/27
 
575,000
635,556
 5% 9/1/28
 
520,000
587,626
 5% 9/1/29
 
545,000
627,859
 5% 9/1/30
 
500,000
586,250
 5% 9/1/31
 
700,000
834,628
 5% 9/1/32
 
735,000
872,181
 5% 9/1/33
 
780,000
923,255
 5% 9/1/34
 
1,000,000
1,178,977
Miamisburg City School District Series 2016:
  
  
  
 5% 12/1/28 (Pre-Refunded to 12/1/25 @ 100)
 
500,000
533,945
 5% 12/1/29 (Pre-Refunded to 12/1/25 @ 100)
 
300,000
320,367
Middleburg Heights Hosp. Rev.:
  
  
  
 Series 2020 A, 4% 8/1/47
 
3,000,000
2,719,640
 Series 2021 A, 4% 8/1/41
 
3,000,000
2,867,371
Milford Exempt Village School District Series 2015, 3.5% 12/1/31
 
500,000
507,827
Montgomery County Hosp. Rev.:
  
  
  
 (Kettering Health Network Obligated Group Proj.) Series 2021:
 
  
  
3% 8/1/51
 
  
4,880,000
3,643,466
4% 8/1/37
 
  
1,125,000
1,139,585
4% 8/1/41
 
  
850,000
831,339
4% 8/1/51
 
  
2,000,000
1,866,780
5% 8/1/32
 
  
750,000
836,197
5% 8/1/36
 
  
1,225,000
1,328,216
5% 8/1/38
 
  
1,000,000
1,070,272
5% 8/1/39
 
  
1,100,000
1,167,454
 Series 2021, 4% 8/1/46
 
1,230,000
1,190,304
Ohio Cap. Facilities Lease (Ohio Gen. Oblig. Proj.) Series 2017 A:
  
  
  
 5% 10/1/32
 
1,625,000
1,799,336
 5% 10/1/33
 
1,500,000
1,658,235
 5% 10/1/35
 
1,450,000
1,588,104
 5% 10/1/36
 
1,250,000
1,362,428
 5% 10/1/37
 
1,430,000
1,556,101
Ohio Gen. Oblig. Series 2021 A:
  
  
  
 5% 3/1/40
 
1,345,000
1,536,192
 5% 3/1/41
 
2,000,000
2,273,382
Ohio Higher Edl. Facility Commission Rev.:
  
  
  
 (Case Western Reserve Univ. Proj.) Series 2019 B:
 
  
  
5% 12/1/37
 
  
835,000
917,546
5% 12/1/38
 
  
1,100,000
1,203,582
5% 12/1/39
 
  
775,000
844,152
 (Denison Univ. 2021 Proj.) Series 2021:
 
  
  
4% 11/1/39
 
  
400,000
401,725
4% 11/1/45
 
  
1,900,000
1,852,819
5% 11/1/30
 
  
300,000
347,613
5% 11/1/33
 
  
300,000
345,795
5% 11/1/35
 
  
300,000
341,658
5% 11/1/41
 
  
300,000
331,582
 (Kenyon College 2015 Proj.) Series 2015, 5% 7/1/41
 
3,100,000
3,178,217
 (Kenyon College 2020 Proj.) Series 2020:
 
  
  
5% 7/1/38
 
  
2,500,000
2,730,135
5% 7/1/39
 
  
2,640,000
2,865,566
 (Kenyon College, Oh. Proj.) Series 2017:
 
  
  
4% 7/1/36
 
  
400,000
403,145
4% 7/1/37
 
  
450,000
451,549
5% 7/1/28
 
  
400,000
432,596
5% 7/1/29
 
  
735,000
793,106
5% 7/1/30
 
  
300,000
322,985
5% 7/1/31
 
  
400,000
429,800
5% 7/1/33
 
  
650,000
696,618
5% 7/1/35
 
  
1,550,000
1,650,239
5% 7/1/42
 
  
1,400,000
1,457,400
 (Otterbein Univ. 2022 Proj.) Series 2022 A, 4% 12/1/46
 
1,250,000
1,088,877
 (The College of Wooster 2018 Proj.) Series 2018:
 
  
  
5% 9/1/33
 
  
1,445,000
1,604,387
5% 9/1/45
 
  
4,255,000
4,494,474
 (Univ. of Dayton 2018 Proj.) Series A, 5% 12/1/48
 
1,000,000
1,038,024
 (Univ. of Dayton 2020 Proj.) Series 2020:
 
  
  
4% 2/1/36
 
  
900,000
922,584
5% 2/1/34
 
  
1,000,000
1,114,481
5% 2/1/35
 
  
800,000
885,800
 (Univ. of Dayton Proj.) Series 2018 B:
 
  
  
4% 12/1/33
 
  
1,155,000
1,194,489
5% 12/1/29
 
  
1,310,000
1,440,241
5% 12/1/31
 
  
1,130,000
1,233,823
5% 12/1/35
 
  
1,000,000
1,077,112
5% 12/1/36
 
  
1,000,000
1,070,723
 (Xavier Univ. Proj.) Series 2015 C, 5% 5/1/29
 
855,000
891,129
 Bonds (Case Western Reserve Univ. Proj.) Series 2019 C, 1.625%, tender 12/1/26 (c)
  
5,000,000
4,740,739
 Series 2019, 4% 10/1/49
 
3,270,000
2,988,686
Ohio Hosp. Facilities Rev. Series 2021 B:
  
  
  
 5% 1/1/30
 
2,500,000
2,883,528
 5% 1/1/31
 
2,180,000
2,557,559
 5% 1/1/32
 
1,580,000
1,882,636
 5% 1/1/33
 
2,410,000
2,823,813
 5% 1/1/34
 
2,425,000
2,826,092
 5% 1/1/35
 
230,000
265,605
 5% 1/1/36
 
540,000
616,679
 5% 1/1/37
 
250,000
282,448
 5% 1/1/38
 
855,000
957,208
 5% 1/1/39
 
925,000
1,028,964
Ohio Hosp. Rev.:
  
  
  
 Series 2020 A, 4% 1/15/50
 
1,000,000
917,134
 Series 2020:
 
  
  
3% 1/15/45
 
  
2,500,000
1,926,444
4% 11/15/37
 
  
1,025,000
987,716
4% 11/15/39
 
  
1,115,000
1,059,498
4% 11/15/40
 
  
1,110,000
1,042,095
4% 11/15/41
 
  
1,175,000
1,095,486
5% 11/15/33
 
  
1,270,000
1,361,992
5% 11/15/35
 
  
1,465,000
1,543,306
 Series 2021 A, 3% 1/15/46
 
5,000,000
3,800,851
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev.:
  
  
  
 (Mtg. Backed Securities Prog.):
 
  
  
Series 2017 B, 4.5% 3/1/47 (b)
 
  
330,000
332,459
Series 2019 B, 4.5% 3/1/50
 
  
4,325,000
4,406,576
 (Mtg.-Backed Securities Prog.) Series 2022 A:
 
  
  
5% 3/1/30
 
  
400,000
454,505
5% 3/1/31
 
  
600,000
689,651
5% 9/1/31
 
  
640,000
740,444
 Series 2021 C, 3.25% 3/1/51
 
7,575,000
7,462,936
 Series 2022 B, 5% 3/1/52
 
2,955,000
3,100,275
Ohio Parks & Recreation Cap. Facilities (Parks and Recreation Impt. Fund Proj.) Series 2022 A:
  
  
  
 5% 12/1/27
 
1,325,000
1,480,314
 5% 12/1/28
 
1,325,000
1,512,445
 5% 12/1/29
 
1,500,000
1,747,697
 5% 12/1/30
 
1,600,000
1,896,513
 5% 12/1/31
 
1,000,000
1,205,606
Ohio Solid Waste Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2010, 3.65%, tender 6/1/23 (c)
  
7,000,000
7,005,375
Ohio Spl. Oblig.:
  
  
  
 (Administrative Bldg. Fund Projs.) Series 2020 B, 5% 4/1/39
 
1,865,000
2,062,006
 (Ohio Gen. Oblig. Proj.) Series 2017 A:
 
  
  
5% 4/1/29
 
  
2,535,000
2,780,304
5% 4/1/30
 
  
2,250,000
2,460,550
5% 4/1/31
 
  
2,000,000
2,182,387
5% 4/1/32
 
  
1,115,000
1,214,029
5% 4/1/33
 
  
1,850,000
2,005,541
5% 4/1/34
 
  
1,000,000
1,081,324
 Series 2020 A:
 
  
  
5% 2/1/29
 
  
2,875,000
3,283,076
5% 2/1/30
 
  
1,045,000
1,214,114
 Series 2021 A:
 
  
  
5% 4/1/34
 
  
1,430,000
1,676,876
5% 4/1/35
 
  
1,660,000
1,930,775
5% 4/1/37
 
  
1,680,000
1,919,625
5% 4/1/38
 
  
1,000,000
1,133,084
5% 4/1/39
 
  
1,000,000
1,124,094
5% 4/1/40
 
  
1,110,000
1,241,061
5% 4/1/41
 
  
750,000
834,900
Ohio Tpk. Commission Tpk. Rev.:
  
  
  
 (Infrastructure Proj.) Series 2005 A, 0% 2/15/43
 
10,000,000
4,154,481
 (Infrastructure Projs.) Series 2022 A, 5% 2/15/39
 
5,730,000
6,608,922
 Series A, 5% 2/15/46
 
7,500,000
8,219,467
Port Auth. Econ. Dev. Rev.:
  
  
  
 (Univ. of Northwestern Ohio Proj.) Series 2021, 4% 12/1/35
 
1,300,000
1,248,849
 Series 2021, 4% 12/1/31
 
710,000
712,989
Ross County Hosp. Facilities Rev. (Adena Health Sys. Obligated Group Proj.) Series 2019, 5% 12/1/49
 
2,000,000
2,032,710
Scioto County Hosp. Facilities Rev. Series 2016:
  
  
  
 5% 2/15/28
 
5,030,000
5,281,932
 5% 2/15/30
 
3,860,000
4,017,980
 5% 2/15/32
 
2,550,000
2,638,132
 5% 2/15/33
 
2,460,000
2,536,017
 5% 2/15/34
 
4,450,000
4,580,434
Univ. of Cincinnati Gen. Receipts:
  
  
  
 Series 2016 A:
 
  
  
5% 6/1/32
 
  
745,000
799,592
5% 6/1/33
 
  
800,000
857,616
5% 6/1/34
 
  
585,000
625,663
 Series 2016 C, 5% 6/1/41
 
2,585,000
2,722,143
 Series 2019 A, 3% 6/1/39
 
3,000,000
2,649,393
Univ. of Toledo Gen. Receipts Series 2018 A:
  
  
  
 5% 6/1/26
 
600,000
642,835
 5% 6/1/27
 
350,000
383,067
Village of Bluffton Hosp. Facilities Blanchard Valley Reg Health Ctr. Series 2017:
  
  
  
 4% 12/1/32
 
1,500,000
1,538,351
 5% 12/1/29
 
825,000
885,081
 5% 12/1/31
 
750,000
803,596
Washington County Hosp. Rev. Series 2022:
  
  
  
 6% 12/1/28
 
200,000
206,481
 6% 12/1/29
 
215,000
223,094
 6% 12/1/30
 
230,000
239,243
 6% 12/1/31
 
245,000
255,209
Wright State Univ. Gen. Receipts Series 2022 A:
  
  
  
 5% 5/1/24 (Build America Mutual Assurance Insured)
 
540,000
552,999
 5% 5/1/25 (Build America Mutual Assurance Insured)
 
490,000
511,641
 5% 5/1/26 (Build America Mutual Assurance Insured)
 
520,000
556,767
 5% 5/1/27 (Build America Mutual Assurance Insured)
 
545,000
595,045
 5% 5/1/28 (Build America Mutual Assurance Insured)
 
565,000
629,274
 5% 5/1/29 (Build America Mutual Assurance Insured)
 
600,000
679,124
 5% 5/1/30 (Build America Mutual Assurance Insured)
 
235,000
269,629
 5% 5/1/31 (Build America Mutual Assurance Insured)
 
250,000
290,940
 5% 5/1/32 (Build America Mutual Assurance Insured)
 
260,000
306,676
TOTAL OHIO
  
  
462,228,335
Puerto Rico - 1.1%
 
  
  
Puerto Rico Commonwealth Aqueduct & Swr. Auth. Series 2021 B, 5% 7/1/37 (d)
  
1,455,000
1,428,730
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1:
  
  
  
 0% 7/1/33
 
1,634,241
925,463
 5.625% 7/1/27
 
190,000
196,304
 5.625% 7/1/29
 
590,000
615,937
 5.75% 7/1/31
 
1,395,000
1,479,345
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev. Series 2018 A1, 0% 7/1/31
 
1,515,000
1,010,603
TOTAL PUERTO RICO
  
  
5,656,382
 
TOTAL MUNICIPAL BONDS
 (Cost $488,508,264)
  
  
  
469,159,559
 
  
  
  
Municipal Notes - 10.5%
 
  
Principal
Amount (a)
 
Value ($)
 
Ohio - 10.5%
 
  
  
Allen County Hosp. Facilities Rev. (Catholic Healthcare Partners Proj.) Series 2010 C, 3.88% 4/3/23, LOC Bank of Montreal, VRDN (c)
  
4,110,000
4,110,000
Franklin County Hosp. Facilities Rev. Series 2022, 3.65% 4/3/23 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)
  
30,300,000
30,299,998
Montgomery County Hosp. Rev. Series 2019 C, 3.9% 4/3/23, LOC PNC Bank NA, VRDN (c)
  
1,400,000
1,400,000
Ohio Higher Edl. Facility Commission Rev.:
  
  
  
 (Cleveland Clinic Foundation Proj.) Series 2008 B4, 3.9% 4/3/23 (Liquidity Facility Barclays Bank PLC), VRDN (c)
  
15,300,000
15,300,000
 Series 2013 B2, 3.9% 4/3/23 (Liquidity Facility Bank of New York, New York), VRDN (c)
  
4,400,000
4,400,000
 
  
  
  
 
TOTAL MUNICIPAL NOTES
 (Cost $55,509,997)
  
  
  
55,509,998
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.1%
 (Cost $544,018,261)
 
  
 
524,669,557
NET OTHER ASSETS (LIABILITIES) - 0.9%  
4,935,400
NET ASSETS - 100.0%
529,604,957
 
  
Security Type Abbreviations
VRDN
-
VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)
 
Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.
 
(c)
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
 
(d)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,428,730 or 0.3% of net assets.
 
 
 
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Municipal Bonds and Municipal Notes are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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