0001752724-24-116497.txt : 20240523 0001752724-24-116497.hdr.sgml : 20240523 20240523165449 ACCESSION NUMBER: 0001752724-24-116497 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240523 DATE AS OF CHANGE: 20240523 PERIOD START: 20241231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY MUNICIPAL TRUST CENTRAL INDEX KEY: 0000035373 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-02628 FILM NUMBER: 24979257 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: MUNICIPAL BOND FUND/MA/ DATE OF NAME CHANGE: 19860327 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19850503 FORMER COMPANY: FORMER 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2024-04-30 Laura M. Del Prato Laura M. Del Prato Laura M. Del Prato President and Treasurer XXXX NPORT-EX 2 QTLY_181_20240331.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Michigan Municipal Income Fund
March 31, 2024
MIR-NPRT1-0524
1.814644.119
Municipal Bonds - 94.4%
 
  
Principal
Amount (a)
 
Value ($)
 
Guam - 0.2%
 
  
  
Guam Pwr. Auth. Rev. Series 2022 A, 5% 10/1/44
 
1,000,000
1,031,085
Michigan - 92.5%
 
  
  
Ann Arbor Pub. School District Series 2023, 4% 5/1/40
 
3,000,000
3,099,922
Bloomfield Hills Schools District Series 2020, 4% 5/1/50
 
1,500,000
1,455,404
Byron Ctr. Pub. Schools Series 2023 II, 5.25% 5/1/53
 
3,570,000
3,890,170
Chippewa Valley Schools Series 2016 A:
  
  
  
 5% 5/1/32
 
1,000,000
1,018,955
 5% 5/1/33
 
1,000,000
1,018,185
 5% 5/1/34
 
1,075,000
1,092,896
Detroit Downtown Dev. Auth. Tax Series A:
  
  
  
 5% 7/1/29 (Assured Guaranty Muni. Corp. Insured)
 
1,340,000
1,342,442
 5% 7/1/31 (Assured Guaranty Muni. Corp. Insured)
 
1,775,000
1,777,750
Detroit Gen. Oblig.:
  
  
  
 Series 2020:
 
  
  
5.5% 4/1/35
 
  
1,040,000
1,131,445
5.5% 4/1/36
 
  
435,000
471,250
5.5% 4/1/37
 
  
465,000
500,190
5.5% 4/1/38
 
  
490,000
524,184
 Series 2021 A:
 
  
  
5% 4/1/37
 
  
1,875,000
1,980,803
5% 4/1/39
 
  
1,210,000
1,264,269
 Series 2023 C, 6% 5/1/43
 
1,500,000
1,684,441
Detroit Swr. Disp. Rev.:
  
  
  
 Series 2001 B, 5.5% 7/1/29 (Assured Guaranty Corp. Insured)
 
25,000
26,084
 Series 2006, 5% 7/1/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured)
 
10,000
10,009
Downriver Util. Wastewtr. Auth. Swr. Sys. Rev. Series 2018:
  
  
  
 5% 4/1/33 (Assured Guaranty Muni. Corp. Insured)
 
735,000
787,477
 5% 4/1/34 (Assured Guaranty Muni. Corp. Insured)
 
520,000
553,504
 5% 4/1/35 (Assured Guaranty Muni. Corp. Insured)
 
500,000
530,076
Farmington Pub. School District Gen. Oblig. Series 2020, 4% 5/1/40
 
3,000,000
3,016,647
Flint Hosp. Bldg. Auth. Rev. Series 2020:
  
  
  
 4% 7/1/38
 
1,800,000
1,698,197
 4% 7/1/41
 
1,395,000
1,266,878
Gerald R. Ford Int'l. Arpt. Auth. Rev. Series 2021:
  
  
  
 5% 1/1/26 (b)
  
225,000
230,857
 5% 1/1/27 (b)
  
325,000
339,004
 5% 1/1/28 (b)
  
235,000
249,497
 5% 1/1/29 (b)
  
525,000
566,084
 5% 1/1/30 (b)
  
425,000
464,655
 5% 1/1/31 (b)
  
725,000
801,689
 5% 1/1/32 (b)
  
725,000
810,351
 5% 1/1/33 (b)
  
1,000,000
1,117,349
 5% 1/1/34 (b)
  
1,000,000
1,116,741
 5% 1/1/35 (b)
  
850,000
947,182
 5% 1/1/36 (b)
  
600,000
665,480
 5% 1/1/37 (b)
  
700,000
770,132
 5% 1/1/38 (b)
  
1,170,000
1,275,995
 5% 1/1/39 (b)
  
1,000,000
1,083,160
 5% 1/1/40 (b)
  
1,000,000
1,077,369
 5% 1/1/41 (b)
  
1,100,000
1,180,338
 5% 1/1/46 (b)
  
2,000,000
2,112,561
Grand Rapids Pub. Schools Series 2017, 5% 5/1/29 (Assured Guaranty Muni. Corp. Insured)
 
480,000
506,300
Grand Rapids San. Swr. Sys. Rev. Series 2018:
  
  
  
 5% 1/1/34
 
550,000
590,509
 5% 1/1/38
 
655,000
692,776
Grand Rapids Wtr. Supply Sys. Series 2016:
  
  
  
 5% 1/1/31
 
250,000
257,045
 5% 1/1/32
 
320,000
329,017
 5% 1/1/33
 
550,000
565,498
Grand Traverse County Hosp. Fin. Auth.:
  
  
  
 Series 2019 A:
 
  
  
5% 7/1/44
 
  
1,110,000
1,146,245
5% 7/1/49
 
  
2,615,000
2,677,829
 Series 2021, 3% 7/1/51
 
2,440,000
1,778,092
Grand Valley Michigan State Univ. Rev. Series 2018:
  
  
  
 5% 12/1/34
 
1,075,000
1,145,504
 5% 12/1/35
 
1,225,000
1,301,075
 5% 12/1/37
 
1,375,000
1,446,403
 5% 12/1/38
 
875,000
917,806
 5% 12/1/43
 
1,400,000
1,450,774
Grandville Pub. Schools District Series 2020:
  
  
  
 4% 5/1/39 (Assured Guaranty Muni. Corp. Insured)
 
1,000,000
1,010,437
 4% 5/1/40 (Assured Guaranty Muni. Corp. Insured)
 
1,300,000
1,312,829
Great Lakes Wtr. Auth. Sew Disp. Sys.:
  
  
  
 Series 2016 B, 5% 7/1/27
 
15,000
15,593
 Series 2018 A, 5% 7/1/43
 
5,000,000
5,238,092
 Series 2018 B, 5% 7/1/29
 
15,000
16,648
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev. Series 2016 C, 5.25% 7/1/35
 
2,000,000
2,084,840
Grosse Pointe Pub. School Sys. Series 2021, 3% 5/1/33
 
1,000,000
959,385
Holland School District Series 2023 II:
  
  
  
 4% 11/1/39
 
1,855,000
1,897,687
 4% 11/1/40
 
1,915,000
1,951,019
Kalamazoo County Mich Series 2021:
  
  
  
 2% 5/1/38
 
1,660,000
1,247,632
 3% 5/1/30
 
1,690,000
1,677,280
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016:
  
  
  
 4% 5/15/36
 
1,985,000
1,994,283
 5% 5/15/28
 
775,000
798,970
 5% 5/15/28 (Pre-Refunded to 5/15/26 @ 100)
 
5,000
5,181
 5% 5/15/30
 
4,970,000
5,124,463
 5% 5/15/30 (Pre-Refunded to 5/15/26 @ 100)
 
30,000
31,085
Kentwood Econ. Dev. Corp.:
  
  
  
 Series 2021, 4% 11/15/45
 
500,000
394,569
 Series 2022:
 
  
  
4% 11/15/31
 
  
970,000
918,548
4% 11/15/43
 
  
2,250,000
1,822,247
Lansing Board of Wtr. & Lt. Util. Rev.:
  
  
  
 Bonds Series 2021 B, 2%, tender 7/1/26 (c)
  
2,000,000
1,899,921
 Series 2024 A:
 
  
  
5% 7/1/25
 
  
730,000
746,105
5% 7/1/26
 
  
625,000
651,620
5% 7/1/27
 
  
1,500,000
1,599,172
Lansing Mich Series 2023 B, 4% 6/1/40 (Assured Guaranty Muni. Corp. Insured)
 
4,810,000
4,878,162
Lincoln Consolidated School District Series 2016 A:
  
  
  
 5% 5/1/29
 
1,430,000
1,476,569
 5% 5/1/31
 
500,000
514,861
 5% 5/1/32
 
1,000,000
1,029,519
Macomb Interceptor Drain Drainage District Series 2017 A, 5% 5/1/34
 
1,750,000
1,838,952
Marquette Board Lt. & Pwr. Elec. Util. Sys. Rev. Series 2016 A:
  
  
  
 5% 7/1/29
 
780,000
802,012
 5% 7/1/30
 
900,000
924,419
 5% 7/1/31
 
780,000
800,146
 5% 7/1/32
 
1,000,000
1,024,527
 5% 7/1/33
 
705,000
721,223
Michigan Bldg. Auth. Rev.:
  
  
  
 (Facilities Prog.) Series I, 3% 10/15/45
 
8,670,000
7,101,796
 Series 2021 I, 3% 10/15/51
 
1,770,000
1,352,902
Michigan Fin. Auth. Act 38 Facss (The Henry Ford Health Detroit South Campus Central Util. Plant Proj.) Series 2024:
  
  
  
 5% 2/28/38
 
1,700,000
1,879,930
 5% 2/28/39
 
1,000,000
1,097,848
 5.25% 2/29/40
 
600,000
665,651
Michigan Fin. Auth. Rev.:
  
  
  
 (Charter County of Wayne Criminal Justice Ctr. Proj.) Series 2018:
 
  
  
5% 11/1/33
 
  
3,250,000
3,505,250
5% 11/1/35
 
  
1,000,000
1,072,035
5% 11/1/36
 
  
1,250,000
1,339,515
5% 11/1/38
 
  
1,595,000
1,684,079
 (Detroit Wtr. And Sewerage Dept. Wtr. Supply Sys. Rev. Rfdg. Local Proj. Bonds) Series 2015, 5% 7/1/30
 
10,000
10,158
 (Kalamazoo College Proj.) Series 2018:
 
  
  
4% 12/1/36
 
  
790,000
793,881
4% 12/1/47
 
  
2,610,000
2,379,427
 (Lawrence Technological Univ. Proj.) Series 2017, 5% 2/1/47
 
3,195,000
2,957,150
 (Trinity Health Proj.) Series 2017:
 
  
  
5% 12/1/30
 
  
710,000
757,928
5% 12/1/37
 
  
3,270,000
3,412,647
 Bonds:
 
  
  
Series 2015 D2, 1.2%, tender 4/13/28 (c)
 
  
4,190,000
3,730,533
Series 2016 E1, 4%, tender 8/15/24 (c)
 
  
1,305,000
1,304,096
 Series 2014 H1, 5% 10/1/39
 
4,725,000
4,737,479
 Series 2015 C:
 
  
  
5% 7/1/26
 
  
570,000
577,613
5% 7/1/27
 
  
1,465,000
1,484,389
5% 7/1/28
 
  
1,500,000
1,519,669
 Series 2015 D1:
 
  
  
5% 7/1/34
 
  
1,250,000
1,264,109
5% 7/1/35
 
  
505,000
510,332
 Series 2015 D2, 5% 7/1/34
 
1,000,000
1,008,739
 Series 2016:
 
  
  
5% 11/15/28
 
  
2,655,000
2,764,068
5% 1/1/29
 
  
1,000,000
1,027,017
5% 11/15/29
 
  
4,950,000
5,161,935
5% 1/1/30
 
  
1,000,000
1,028,351
5% 1/1/31
 
  
1,170,000
1,204,119
5% 1/1/32
 
  
1,895,000
1,949,746
5% 1/1/33
 
  
1,915,000
1,970,482
5% 1/1/34
 
  
2,135,000
2,198,662
5% 11/15/34
 
  
1,135,000
1,179,668
5% 11/15/41
 
  
5,730,000
5,868,073
 Series 2019 A:
 
  
  
3% 12/1/49
 
  
2,000,000
1,529,778
4% 2/15/44
 
  
4,140,000
3,996,369
4% 12/1/49
 
  
8,180,000
7,662,416
4% 2/15/50
 
  
6,530,000
6,033,450
5% 11/15/48
 
  
11,865,000
12,288,934
 Series 2020 A:
 
  
  
4% 6/1/35
 
  
2,000,000
2,050,525
4% 6/1/37
 
  
2,000,000
2,019,747
4% 6/1/40
 
  
2,000,000
1,990,483
4% 6/1/49
 
  
4,250,000
3,883,792
 Series 2020:
 
  
  
4% 11/1/55
 
  
2,500,000
2,258,413
5% 6/1/40
 
  
3,000,000
3,148,747
 Series 2021:
 
  
  
3% 9/1/50
 
  
2,320,000
1,591,411
5% 9/1/38
 
  
1,270,000
1,360,436
 Series 2022:
 
  
  
4% 2/1/27
 
  
145,000
141,180
4% 2/1/32
 
  
285,000
271,185
4% 2/1/42
 
  
1,120,000
933,477
4% 4/15/42
 
  
2,000,000
1,965,221
4% 12/1/51
 
  
1,100,000
785,318
 Series 2023:
 
  
  
5% 11/1/32
 
  
1,110,000
1,137,075
5% 11/1/33
 
  
1,250,000
1,284,546
5% 11/1/37
 
  
2,000,000
2,012,284
5.25% 11/1/35
 
  
1,400,000
1,448,719
Michigan Gen. Oblig. Series 2020 A, 4% 5/15/40
 
500,000
508,145
Michigan Hosp. Fin. Auth. Rev.:
  
  
  
 Series 2010 F, 4% 11/15/47
 
290,000
278,374
 Series 2010 F4, 5% 11/15/47
 
6,070,000
6,339,070
Michigan Hsg. Dev. Auth. Rental Hsg. Rev.:
  
  
  
 Series 2017 A, 3.75% 10/1/42
 
2,000,000
1,826,038
 Series 2018 A, 3.8% 10/1/38
 
3,965,000
3,824,164
 Series 2019 A1:
 
  
  
3.35% 10/1/49
 
  
3,000,000
2,436,241
3.6% 10/1/60
 
  
2,500,000
2,014,034
 Series 2020 A1, 0.65% 10/1/24
 
225,000
221,059
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev.:
  
  
  
 Series 2019 B, 3.75% 6/1/50
 
2,160,000
2,128,513
 Series 2020 C, 3% 6/1/51
 
2,590,000
2,505,519
 Series 2021 A, 3% 6/1/52
 
2,915,000
2,812,607
 Series 2022 A, 5% 6/1/53
 
2,255,000
2,318,449
 Series 2022 D, 5.5% 6/1/53
 
2,405,000
2,518,782
 Series 2023 A, 3.8% 12/1/33
 
1,490,000
1,500,336
 Series 2023 B, 5.75% 6/1/54
 
2,000,000
2,134,804
 Series 2024 A, 6% 6/1/54
 
2,530,000
2,756,698
 Series A:
 
  
  
3.5% 12/1/50
 
  
2,870,000
2,812,695
4% 12/1/48
 
  
770,000
763,703
 Series C, 4.25% 6/1/49
 
1,780,000
1,772,745
Michigan State Hsg. Dev. Auth. Series 2021 A:
  
  
  
 0.55% 4/1/25
 
2,750,000
2,631,914
 2.125% 10/1/36
 
1,775,000
1,411,820
 2.45% 10/1/46
 
2,000,000
1,364,996
 2.55% 10/1/51
 
1,920,000
1,263,630
Michigan State Univ. Revs. Series 2019 C, 4% 2/15/44
 
1,500,000
1,463,917
Michigan Strategic Fund Ltd. Oblig. Rev.:
  
  
  
 (I-75 Impt. Proj.):
 
  
  
Series 2017, 5% 6/30/25 (b)
 
  
3,150,000
3,154,356
Series 2018:
 
  
  
  
4.25% 12/31/38 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
5,840,000
5,848,912
5% 12/31/25 (b)
 
  
2,200,000
2,209,001
5% 12/31/26 (b)
 
  
490,000
500,763
5% 12/31/28 (b)
 
  
375,000
391,565
5% 6/30/29 (b)
 
  
35,000
36,587
5% 12/31/30 (b)
 
  
4,080,000
4,274,137
5% 6/30/31 (b)
 
  
470,000
492,950
5% 12/31/31 (b)
 
  
3,180,000
3,334,714
5% 12/31/32 (b)
 
  
1,785,000
1,871,434
5% 12/31/33 (b)
 
  
2,000,000
2,096,989
 (The Detroit Edison Co. Exempt Facilities Proj.) Series 2008 ET2, 1.35% 8/1/29
 
2,000,000
1,727,600
 (The Detroit Edison Co. Poll. Cont. Bonds Proj.) Series 1995 CC, 1.45% 9/1/30
 
2,000,000
1,692,040
 (United Methodist Retirement Cmntys., Inc. Proj.) Series 2019, 5% 11/15/34
 
500,000
490,690
 Bonds:
 
  
  
(Consumer Energy Co. Proj.) Series 2019, 1.8%, tender 10/1/24 (b)(c)
 
  
6,000,000
5,916,962
(DTE Elec. Co. Exempt Facilities Proj.) Series 2023 DT, 3.875%, tender 6/3/30 (b)(c)
 
  
7,000,000
7,041,264
(Graphic Packaging Int'l., LLC Coated Recycled Board Machine Proj.) Series 2021, 4%, tender 10/1/26 (b)(c)
 
  
5,000,000
4,995,289
 Series 2020:
 
  
  
4% 5/15/27
 
  
565,000
545,680
5% 5/15/44
 
  
1,500,000
1,332,412
Michigan Technological Univ. Series 2021, 4% 10/1/46
 
2,835,000
2,726,368
Michigan Trunk Line Fund Rev. Series 2020 B, 4% 11/15/45
 
1,500,000
1,503,430
Northern Michigan Univ. Revs. Series 2021:
  
  
  
 4% 6/1/39
 
900,000
908,234
 4% 6/1/40
 
500,000
501,480
 4% 6/1/41
 
1,385,000
1,377,934
 4% 6/1/46
 
1,850,000
1,765,840
 5% 6/1/32
 
375,000
426,646
 5% 6/1/33
 
365,000
414,630
 5% 6/1/34
 
375,000
426,591
 5% 6/1/35
 
375,000
425,817
 5% 6/1/36
 
400,000
451,163
Oakland Univ. Rev.:
  
  
  
 Series 2014:
 
  
  
5% 3/1/28
 
  
335,000
335,386
5% 3/1/29
 
  
525,000
525,628
 Series 2016:
 
  
  
5% 3/1/28
 
  
1,150,000
1,183,706
5% 3/1/41
 
  
1,475,000
1,495,792
Pennfield Schools District Series 2022, 3% 5/1/51
 
1,160,000
881,673
Portage Pub. Schools:
  
  
  
 Series 2016:
 
  
  
5% 11/1/32
 
  
2,500,000
2,571,770
5% 11/1/34
 
  
1,250,000
1,282,851
 Series 2019, 4% 11/1/38
 
2,000,000
2,022,370
 Series 2021, 4% 11/1/42
 
1,000,000
1,001,922
Ravenna Pub. Schools Gen. Oblig. Series 2021, 4% 5/1/51
 
2,140,000
2,030,425
Saginaw City School District Series 2021, 4% 5/1/47
 
3,000,000
2,917,976
Saginaw Hosp. Fin. Auth. Hosp. Rev. Series 2020 J:
  
  
  
 4% 7/1/36
 
770,000
783,747
 4% 7/1/37
 
820,000
829,004
 4% 7/1/39
 
1,430,000
1,425,686
 4% 7/1/40
 
490,000
483,403
Warren Consolidated School District:
  
  
  
 Series 2016:
 
  
  
5% 5/1/34
 
  
5,630,000
5,796,189
5% 5/1/35
 
  
1,250,000
1,284,873
 Series 2017, 4% 5/1/25 (Assured Guaranty Muni. Corp. Insured)
 
500,000
503,035
 Series 2018, 5% 5/1/32
 
1,100,000
1,181,871
Wayne County Arpt. Auth. Rev.:
  
  
  
 Series 2014 C:
 
  
  
5% 12/1/29 (b)
 
  
720,000
724,613
5% 12/1/31 (b)
 
  
860,000
865,610
 Series 2015 G, 5% 12/1/36
 
5,760,000
5,880,470
 Series 2017 A:
 
  
  
5% 12/1/37
 
  
545,000
571,761
5% 12/1/42
 
  
1,455,000
1,513,915
 Series 2017 B, 5% 12/1/47 (b)
  
450,000
458,711
 Series 2018 B, 5% 12/1/48 (b)
  
5,000,000
5,113,758
 Series 2018 D:
 
  
  
5% 12/1/30 (b)
 
  
5,865,000
6,237,348
5% 12/1/31 (b)
 
  
2,825,000
3,003,719
5% 12/1/32 (b)
 
  
2,945,000
3,130,594
 Series 2021 A, 5% 12/1/38
 
1,250,000
1,396,731
 Series 2021 B:
 
  
  
5% 12/1/35 (b)
 
  
1,225,000
1,349,340
5% 12/1/37 (b)
 
  
1,520,000
1,648,915
5% 12/1/46 (b)
 
  
1,280,000
1,344,525
 Series 2023 B:
 
  
  
5.25% 12/1/37 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
1,000,000
1,129,497
5.25% 12/1/38 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
900,000
1,008,838
5.5% 12/1/39 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
635,000
727,560
5.5% 12/1/41 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
1,685,000
1,909,275
5.5% 12/1/42 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
800,000
902,602
5.5% 12/1/43 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
675,000
757,983
 Series 2023 D, 5.25% 12/1/37 (Assured Guaranty Muni. Corp. Insured) (b)
  
900,000
1,016,547
Wayne State Univ. Revs.:
  
  
  
 Series 2019 A:
 
  
  
4% 11/15/38
 
  
1,000,000
1,009,718
4% 11/15/39
 
  
800,000
805,684
 Series 2023 A:
 
  
  
4% 11/15/39 (Build America Mutual Assurance Insured)
 
  
2,000,000
2,033,503
4% 11/15/40 (Build America Mutual Assurance Insured)
 
  
1,500,000
1,511,419
Western Michigan Univ. Rev.:
  
  
  
 Series 2014:
 
  
  
5% 11/15/28
 
  
650,000
654,964
5% 11/15/29
 
  
750,000
755,544
5% 11/15/30
 
  
855,000
861,006
5% 11/15/31
 
  
700,000
704,490
 Series 2015 A, 5% 11/15/28
 
2,505,000
2,546,233
 Series 2019 A, 5% 11/15/44
 
2,000,000
2,097,213
 Series 2021 A:
 
  
  
5% 11/15/31 (Assured Guaranty Muni. Corp. Insured)
 
  
150,000
168,730
5% 11/15/32 (Assured Guaranty Muni. Corp. Insured)
 
  
300,000
337,420
5% 11/15/36 (Assured Guaranty Muni. Corp. Insured)
 
  
400,000
444,869
5% 11/15/38 (Assured Guaranty Muni. Corp. Insured)
 
  
625,000
685,960
5% 11/15/40 (Assured Guaranty Muni. Corp. Insured)
 
  
635,000
692,555
Ypsilanti School District Series A:
  
  
  
 5% 5/1/29
 
1,305,000
1,351,489
 5% 5/1/32
 
2,000,000
2,069,614
TOTAL MICHIGAN
  
  
433,905,035
Puerto Rico - 1.7%
 
  
  
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1:
  
  
  
 0% 7/1/33
 
1,643,730
1,078,387
 5.625% 7/1/27
 
195,000
207,357
 5.625% 7/1/29
 
595,000
650,916
 5.75% 7/1/31
 
1,410,000
1,588,369
Puerto Rico Hsg. Fin. Auth. Series 2020, 5% 12/1/27
 
1,340,000
1,410,043
Puerto Rico Indl., Tourist, Edl., Med. And Envir. Cont. Facilities Fing. Auth. Series 2021:
  
  
  
 4% 7/1/36
 
195,000
186,390
 5% 7/1/30
 
845,000
906,127
 5% 7/1/32
 
360,000
389,492
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev. Series 2019 A2, 4.329% 7/1/40
 
1,780,000
1,780,513
TOTAL PUERTO RICO
  
  
8,197,594
 
TOTAL MUNICIPAL BONDS
 (Cost $460,141,679)
  
  
  
443,133,714
 
  
  
  
Municipal Notes - 3.4%
 
  
Principal
Amount (a)
 
Value ($)
 
Michigan - 3.4%
 
  
  
Michigan Fin. Auth. Rev. Series 2016 E3, 3.45% 4/4/24, VRDN (c)
  
5,100,000
5,100,000
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev.:
  
  
  
 (Single Family Mort 12/17/87 Proj.) Series 2009 C, 3.8% 4/4/24 (Liquidity Facility TD Banknorth, NA), VRDN (c)
  
1,425,000
1,425,000
 Participating VRDN Series 2022 D1, 4.12% 3/29/24 (Liquidity Facility Barclays Bank PLC) (c)(d)(e)
  
5,000,000
5,000,000
 Series 2007 F, 3.9% 4/4/24 (Liquidity Facility TD Banknorth, NA), VRDN (b)(c)
  
4,400,000
4,400,000
 
  
  
  
 
TOTAL MUNICIPAL NOTES
 (Cost $15,925,000)
  
  
  
15,925,000
 
  
  
  
Money Market Funds - 1.6%
 
  
Shares
Value ($)
 
Fidelity Municipal Cash Central Fund 3.63% (f)(g)
 
 (Cost $7,395,026)
 
  
7,393,221
7,395,439
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.4%
 (Cost $483,461,705)
 
  
 
466,454,153
NET OTHER ASSETS (LIABILITIES) - 0.6%  
2,713,963
NET ASSETS - 100.0%
469,168,116
 
  
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)
Provides evidence of ownership in one or more underlying municipal bonds.
 
(e)
Coupon rates are determined by re-marketing agents based on current market conditions.
 
(f)
Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund.
 
(g)
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 are available on the SEC's website or upon request.
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Municipal Cash Central Fund 3.63%
9,622,000
29,006,172
31,234,077
81,273
931
413
7,395,439
0.4%
Total
9,622,000
29,006,172
31,234,077
81,273
931
413
7,395,439
  
 
  
  
  
  
  
  
  
  
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
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.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
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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