High Grade Income Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||
CORPORATE OBLIGATIONS 49.3% |
||||||||
Communication Services 4.4% |
||||||||
Comcast | ||||||||
$ 300 | 3.150%, 03/01/26 | $ | 314 | |||||
TWDC Enterprises 18 MTN | ||||||||
430 | 4.125%, 06/01/44 | 508 | ||||||
225 | 1.850%, 07/30/26 | 223 | ||||||
Verizon Communications | ||||||||
325 | 4.329%, 09/21/28 | 370 | ||||||
ViacomCBS | ||||||||
175 | 3.500%, 01/15/25 | 163 | ||||||
|
|
|||||||
1,578 | ||||||||
|
|
|||||||
Consumer Discretionary 7.0% |
||||||||
Amazon.com | ||||||||
650 | 4.800%, 12/05/34 | 846 | ||||||
George Washington University | ||||||||
225 | 4.363%, 09/15/43 | 246 | ||||||
Home Depot | ||||||||
450 | 5.875%, 12/16/36 | 610 | ||||||
Lowes | ||||||||
375 | 3.650%, 04/05/29 | 385 | ||||||
McDonalds MTN | ||||||||
200 | 4.600%, 05/26/45 | 229 | ||||||
Starbucks | ||||||||
225 | 2.450%, 06/15/26 | 224 | ||||||
|
|
|||||||
2,540 | ||||||||
|
|
|||||||
Consumer Staples 1.9% |
||||||||
Coca-Cola | ||||||||
200 | 2.450%, 11/01/20 | 201 | ||||||
General Mills | ||||||||
330 | 4.000%, 04/17/25 | 355 | ||||||
Hershey | ||||||||
125 | 2.625%, 05/01/23 | 124 | ||||||
|
|
|||||||
680 | ||||||||
|
|
|||||||
Energy 4.0% |
||||||||
Apache | ||||||||
159 | 7.750%, 12/15/29 | 91 | ||||||
BP Capital Markets PLC | ||||||||
300 | 3.814%, 02/10/24 | 303 | ||||||
Kinder Morgan Energy Partners LP | ||||||||
150 | 4.300%, 05/01/24 | 151 | ||||||
Occidental Petroleum | ||||||||
390 | 2.700%, 02/15/23 | 231 | ||||||
Schlumberger Investment SA | ||||||||
400 | 3.650%, 12/01/23 | 397 | ||||||
Shell International Finance BV | ||||||||
260 | 3.875%, 11/13/28 | 284 | ||||||
|
|
|||||||
1,457 | ||||||||
|
|
|||||||
Financials 13.6% |
||||||||
Aflac | ||||||||
350 | 3.625%, 11/15/24 | 368 | ||||||
Bank of America MTN | ||||||||
450 | 4.000%, 04/01/24 | 477 | ||||||
235 | 3.194%, VAR ICE LIBOR USD 3 Month+1.180% 07/23/30 | 240 |
March 31, 2020 | www.bishopstreetfunds.com |
High Grade Income Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||
Financials (continued) |
||||||||
Bank of Montreal MTN | ||||||||
$ 275 | 3.300%, 02/05/24 | $ | 284 | |||||
Bank of New York Mellon MTN | ||||||||
500 | 4.150%, 02/01/21 | 501 | ||||||
Capital One Financial | ||||||||
175 | 3.750%, 03/09/27 | 168 | ||||||
Citigroup | ||||||||
100 | 3.875%, 10/25/23 | 103 | ||||||
Discover Bank | ||||||||
200 | 4.200%, 08/08/23 | 211 | ||||||
Goldman Sachs Group MTN | ||||||||
250 | 2.983%, VAR ICE LIBOR USD 3 Month+1.300% 11/23/24 | 232 | ||||||
JPMorgan Chase | ||||||||
375 | 3.540%, VAR ICE LIBOR USD 3 Month+1.380% 05/01/28 | 386 | ||||||
275 | 2.700%, 05/18/23 | 282 | ||||||
MetLife | ||||||||
250 | 3.048%, 12/15/22 | 252 | ||||||
Morgan Stanley MTN | ||||||||
400 | 3.875%, 01/27/26 | 427 | ||||||
PNC Financial Services Group | ||||||||
250 | 3.500%, 01/23/24 | 251 | ||||||
US Bancorp MTN | ||||||||
450 | 3.000%, 03/15/22 | 461 | ||||||
Wells Fargo MTN | ||||||||
250 | 4.150%, 01/24/29 | 273 | ||||||
|
|
|||||||
4,916 | ||||||||
|
|
|||||||
Health Care 4.1% |
||||||||
AbbVie | ||||||||
500 | 2.900%, 11/06/22 | 505 | ||||||
Celgene | ||||||||
250 | 3.875%, 08/15/25 | 278 | ||||||
CVS Health | ||||||||
250 | 2.875%, 06/01/26 | 253 | ||||||
Gilead Sciences | ||||||||
450 | 4.500%, 04/01/21 | 456 | ||||||
|
|
|||||||
1,492 | ||||||||
|
|
|||||||
Industrials 1.5% |
||||||||
FedEx | ||||||||
125 | 2.625%, 08/01/22 | 124 | ||||||
Norfolk Southern | ||||||||
150 | 2.900%, 06/15/26 | 153 | ||||||
Raytheon | ||||||||
260 | 2.500%, 12/15/22 | 266 | ||||||
|
|
|||||||
543 | ||||||||
|
|
|||||||
Information Technology 5.7% |
||||||||
Apple | ||||||||
450 | 4.650%, 02/23/46 | 597 | ||||||
Applied Materials | ||||||||
200 | 3.300%, 04/01/27 | 213 | ||||||
International Business Machines | ||||||||
360 | 3.500%, 05/15/29 | 390 | ||||||
KLA | ||||||||
200 | 4.650%, 11/01/24 | 211 | ||||||
Microsoft | ||||||||
250 | 3.625%, 12/15/23 | 273 |
March 31, 2020 | www.bishopstreetfunds.com |
High Grade Income Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||
Information Technology (continued) | ||||||||
QUALCOMM | ||||||||
$ 365 | 3.250%, 05/20/27 | $ | 384 | |||||
|
|
|||||||
2,068 | ||||||||
|
|
|||||||
Materials 1.2% |
||||||||
DuPont de Nemours | ||||||||
285 | 5.419%, 11/15/48 | 314 | ||||||
Sherwin-Williams | ||||||||
140 | 3.125%, 06/01/24 | 139 | ||||||
|
|
|||||||
453 | ||||||||
|
|
|||||||
Transportation 1.1% |
||||||||
Burlington Northern Santa Fe LLC | ||||||||
345 | 4.450%, 03/15/43 | 397 | ||||||
|
|
|||||||
Utilities 4.8% |
||||||||
Berkshire Hathaway Energy | ||||||||
400 | 6.125%, 04/01/36 | 527 | ||||||
Duke Energy Florida LLC | ||||||||
325 | 3.100%, 08/15/21 | 328 | ||||||
Sempra Energy | ||||||||
375 | 3.250%, 06/15/27 | 381 | ||||||
Sierra Pacific Power | ||||||||
200 | 2.600%, 05/01/26 | 200 | ||||||
Xcel Energy | ||||||||
300 | 3.300%, 06/01/25 | 304 | ||||||
|
|
|||||||
1,740 | ||||||||
|
|
|||||||
TOTAL CORPORATE OBLIGATIONS (Cost $17,243) |
17,864 | |||||||
|
|
|||||||
U.S. TREASURY OBLIGATIONS 21.4% | ||||||||
U.S. Treasury Bonds | ||||||||
800 | 6.000%, 02/15/26 | 1,058 | ||||||
250 | 5.375%, 02/15/31 | 371 | ||||||
250 | 4.750%, 02/15/37 | 399 | ||||||
300 | 4.500%, 08/15/39 | 481 | ||||||
875 | 4.375%, 05/15/41 | 1,404 | ||||||
665 | 3.125%, 05/15/48 | 942 | ||||||
100 | 3.000%, 08/15/48 | 139 | ||||||
700 | 2.250%, 08/15/46 | 845 | ||||||
U.S. Treasury Notes | ||||||||
170 | 3.125%, 11/15/28 | 205 | ||||||
365 | 2.875%, 10/31/20 | 371 | ||||||
350 | 2.125%, 08/31/20 | 353 | ||||||
380 | 2.125%, 05/15/25 | 413 | ||||||
400 | 2.000%, 11/15/26 | 438 | ||||||
300 | 1.625%, 08/15/29 | 326 | ||||||
|
|
|||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $6,475) |
7,745 | |||||||
|
|
|||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS 14.1% | ||||||||
FFCB | ||||||||
350 | 3.220%, 12/10/25 | 400 | ||||||
450 | 3.100%, 12/06/24 | 501 | ||||||
200 | 1.530%, 03/02/27 | 208 | ||||||
200 | 1.430%, 02/14/24 | 207 |
March 31, 2020 | www.bishopstreetfunds.com |
High Grade Income Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000)/Shares |
Value (000) |
|||||||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued) | ||||||||||||
FHLB | ||||||||||||
$ 475 | 4.750%, 03/10/23 | $ | 535 | |||||||||
500 | 3.125%, 06/13/25 | 561 | ||||||||||
500 | 3.000%, 03/10/28 | 569 | ||||||||||
550 | 2.500%, 03/11/22 | 573 | ||||||||||
500 | 2.125%, 09/14/29 | 533 | ||||||||||
FHLMC | ||||||||||||
350 | 1.125%, 10/14/25 | 350 | ||||||||||
FHLMC MTN | ||||||||||||
675 | 1.625%, 2.000%, 08/25/20, 08/25/21 (A) | 676 | ||||||||||
|
|
|||||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $4,825) |
5,113 | |||||||||||
|
|
|||||||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS 5.4% |
||||||||||||
FHLMC, Ser 2015-4425, Cl BY | ||||||||||||
597 | 2.000%, 01/15/45 | 596 | ||||||||||
FHLMC, Ser G12710 | ||||||||||||
20 | 5.500%, 07/01/22 | 22 | ||||||||||
FNMA, Ser 2003-58, Cl D | ||||||||||||
28 | 3.500%, 07/25/33 | 30 | ||||||||||
FNMA, Ser 2012-84, Cl JB | ||||||||||||
217 | 3.000%, 05/25/42 | 230 | ||||||||||
FNMA, Ser 2013-92, Cl MT | ||||||||||||
30 | 4.000%, 07/25/41 | 32 | ||||||||||
FNMA, Ser 889958 | ||||||||||||
13 | 5.000%, 10/01/23 | 13 | ||||||||||
GNMA, Ser 2011-112, Cl JP | ||||||||||||
25 | 2.000%, 02/20/40 | 26 | ||||||||||
GNMA, Ser 2012-91, Cl QL | ||||||||||||
765 | 2.000%, 09/20/41 | 778 | ||||||||||
GNMA, Ser 2013-4, Cl CN | ||||||||||||
220 | 2.000%, 10/16/42 | 222 | ||||||||||
|
|
|||||||||||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS (Cost $1,706) |
1,949 | |||||||||||
|
|
|||||||||||
MUNICIPAL BONDS 5.2% |
||||||||||||
California State, GO | ||||||||||||
260 | 6.509%, 04/01/39 | 275 | ||||||||||
City of Seattle Washington, Ser B, GO | ||||||||||||
425 | 3.500%, 12/01/31 | 467 | ||||||||||
Evansville, Redevelopment Authority, GO | ||||||||||||
500 | 7.210%, 02/01/39 | 510 | ||||||||||
Gwinnett County, Development Authority, RB | ||||||||||||
375 | 4.180%, 09/01/47 | 396 | ||||||||||
Houston, Independent School District, GO | ||||||||||||
250 | 6.125%, 02/15/28 | 251 | ||||||||||
|
|
|||||||||||
TOTAL MUNICIPAL BONDS (Cost $1,852) |
1,899 | |||||||||||
|
|
|||||||||||
CASH EQUIVALENT 4.8% |
||||||||||||
1,731,395 | BlackRock FedFund, Institutional Shares, 0.360% (B) (Cost $1,731) | 1,731 | ||||||||||
|
|
|||||||||||
TOTAL INVESTMENTS (Cost $33,832) 100.2% |
$ | 36,301 | ||||||||||
|
|
Percentages are based on Net Assets of $36,212 (000).
March 31, 2020 | www.bishopstreetfunds.com |
High Grade Income Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
(A) | Step Bonds Represents the current rate, the step rate, the step date and the final maturity date. |
(B) | The rate reported is the 7-day effective yield as of March 31, 2020. |
ClClass
FFCBFederal Farm Credit Bank
FHLBFederal Home Loan Bank
FHLMCFederal Home Loan Mortgage Corporation
FNMAFederal National Mortgage Association
GNMAGovernment National Mortgage Association
GOGeneral Obligation
ICE Intercontinental Exchange
LIBORLondon Interbank Offered Rate
LLCLimited Liability Corporation
LPLimited Partnership
MTNMedium Term Note
PLCPublic Limited Company
RBRevenue Bond
SerSeries
USDUnited States Dollar
VARVariable Rate
Cost figures are shown in thousands.
The following is a summary of the inputs used as of March 31, 2020, in valuing the Funds investments carried at value (000):
High Grade Income Fund |
||||||||||||||||
Investments in Securities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Corporate Obligations |
$ | | $ | 17,864 | $ | | $ | 17,864 | ||||||||
U.S. Treasury Obligations |
| 7,745 | | 7,745 | ||||||||||||
U.S. Government Agency |
||||||||||||||||
Obligations |
| 5,113 | | 5,113 | ||||||||||||
U.S. Government Agency |
||||||||||||||||
Mortgage-Backed Obligations |
| 1,949 | | 1,949 | ||||||||||||
Municipal Bonds |
| 1,899 | | 1,899 | ||||||||||||
Cash Equivalent |
1,731 | | | 1,731 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | 1,731 | $ | 34,570 | $ | | $ | 36,301 | ||||||||
|
|
|
|
|
|
|
|
For the period ended March 31, 2020, there were no transfers in or out of Level 3.
Amounts designated as are $0.
For information regarding the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semi-annual and annual financial statements.
BSF-QH-001-3400
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||
MUNICIPAL BONDS 98.1% | ||||||||
Alaska 0.5% |
||||||||
Alaska State, Ser A, GO | ||||||||
$ 525 | 5.000%, 08/01/34 | $ | 611 | |||||
|
|
|||||||
California 1.9% |
||||||||
California State, Educational Facilities Authority, Ser U-6, RB | ||||||||
670 | 5.000%, 05/01/45 | 1,007 | ||||||
Orange County, Water District, Ser A, RB | ||||||||
1,000 | 5.000%, 08/15/23, Pre-Refunded @ 100(A) | 1,130 | ||||||
University of California, Ser AF, RB | ||||||||
215 | 5.000%, 05/15/23, Pre-Refunded @ 100(A) | 240 | ||||||
|
|
|||||||
2,377 | ||||||||
|
|
|||||||
Florida 0.1% |
||||||||
Miami-Dade County, School Board, Ser D, COP | ||||||||
150 | 5.000%, 02/01/27 | 177 | ||||||
|
|
|||||||
Hawaii 89.1% |
||||||||
Hawaii County, Ser A, GO | ||||||||
500 | 5.000%, 09/01/20 | 508 | ||||||
250 | 5.000%, 09/01/22 | 273 | ||||||
600 | 5.000%, 09/01/26 | 726 | ||||||
100 | 5.000%, 09/01/27 | 121 | ||||||
125 | 5.000%, 09/01/28 | 154 | ||||||
500 | 5.000%, 09/01/30 | 599 | ||||||
400 | 5.000%, 09/01/33 | 487 | ||||||
300 | 5.000%, 09/01/36 | 363 | ||||||
1,500 | 4.000%, 09/01/35 | 1,659 | ||||||
Hawaii County, Ser B, GO | ||||||||
200 | 5.000%, 09/01/22 (B) | 218 | ||||||
Hawaii County, Ser D, GO | ||||||||
450 | 5.000%, 09/01/25 | 537 | ||||||
300 | 5.000%, 09/01/27 | 363 | ||||||
Hawaii State, Airports System Authority, Ser A, RB | ||||||||
250 | 5.250%, 07/01/23 | 252 | ||||||
2,500 | 5.250%, 07/01/27 | 2,521 | ||||||
1,000 | 5.250%, 07/01/28 | 1,008 | ||||||
900 | 5.250%, 07/01/30 | 907 | ||||||
420 | 5.000%, 07/01/39 | 423 | ||||||
2,000 | 5.000%, 07/01/45 | 2,202 | ||||||
Hawaii State, Airports System Authority, RB, AMT | ||||||||
1,500 | 5.000%, 07/01/24 | 1,551 | ||||||
1,000 | 4.125%, 07/01/24 | 1,023 | ||||||
Hawaii State, Airports System Revenue, COP, AMT | ||||||||
500 | 5.250%, 08/01/25 | 548 | ||||||
Hawaii State, Department of Budget & Finance, Pacific Health Project, Ser A, RB | ||||||||
425 | 6.000%, 07/01/33 | 480 |
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||
Hawaii (continued) |
||||||||
$ 100 | 5.500%,07/01/43 | $ | 108 | |||||
350 | 4.625%,07/01/20, Pre-Refunded @ 100(A) | 353 | ||||||
Hawaii State, Department of Budget & Finance, RB | ||||||||
325 | 5.125%,07/01/31 | 354 | ||||||
275 | 5.000%,07/01/20 | 278 | ||||||
300 | 5.000%,07/01/21 | 314 | ||||||
100 | 4.000%,01/01/24 | 107 | ||||||
140 | 4.000%,01/01/26 | 154 | ||||||
250 | 4.000%,01/01/31 | 281 | ||||||
350 | 3.250%,01/01/25 | 359 | ||||||
3,000 | 3.200%,07/01/39 | 2,950 | ||||||
Hawaii State, Department of Budget & Finance, Ser A, RB | ||||||||
500 | 5.500%,07/01/20, Pre-Refunded @ 100(A) | 505 | ||||||
205 | 5.000%,07/01/22 | 222 | ||||||
575 | 5.000%,07/01/26 | 634 | ||||||
500 | 5.000%,07/01/27 | 586 | ||||||
755 | 5.000%,07/01/30 | 879 | ||||||
3,000 | 5.000%,07/01/35 | 3,438 | ||||||
1,000 | 4.000%,07/01/40 | 1,066 | ||||||
Hawaii State, Department of Budget & Finance, Ser B, RB | ||||||||
775 | 5.000%,07/01/28 | 850 | ||||||
Hawaii State, Department of Hawaiian Home Lands, Kapolie Office Facilities, Ser A, COP, AGM Insured | ||||||||
500 | 5.000%,11/01/26 | 612 | ||||||
Hawaii State, Department of Hawaiian Home Lands, RB | ||||||||
500 | 5.000%,04/01/27 | 618 | ||||||
Hawaii State, Department of Transportation, Airports Division Lease Revenue, COP, AMT | ||||||||
2,525 | 5.000%,08/01/21 | 2,648 | ||||||
1,000 | 5.000%,08/01/27 | 1,086 | ||||||
1,000 | 5.000%,08/01/28 | 1,085 | ||||||
Hawaii State, Harbor System Revenue, Ser A, RB | ||||||||
2,000 | 5.625%,07/01/40 | 2,021 | ||||||
220 | 5.000%,07/01/25 | 222 | ||||||
1,125 | 4.250%,07/01/21 | 1,134 | ||||||
Hawaii State, Highway Revenue, Ser A, RB | ||||||||
700 | 5.000%,01/01/23 | 770 | ||||||
215 | 5.000%,01/01/25 | 249 | ||||||
1,950 | 5.000%,01/01/30 | 2,302 | ||||||
1,000 | 5.000%,01/01/33 | 1,140 | ||||||
1,200 | 4.000%,01/01/26 | 1,254 | ||||||
Hawaii State, Highway Revenue, Ser B, RB | ||||||||
165 | 5.000%,01/01/24 | 187 | ||||||
Hawaii State, Housing Finance & Development, Kuhio Park Terrace Multi-Family Housing, Ser A, RB, FHLMC Insured | ||||||||
200 | 3.900%,04/01/22 | 205 | ||||||
115 | 3.750%,04/01/21 | 117 | ||||||
180 | 3.500%,04/01/20 | 180 |
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||||||
Hawaii (continued) |
||||||||||||
Hawaii State, Housing Finance & Development, Ser A, RB, GNMA Insured | ||||||||||||
$ 1,000 | 1.900%,01/01/21 | $ | 1,002 | |||||||||
Hawaii State, Housing Finance & Development, Single-Family Housing, Ser B, RB, GNMA/FNMA/FHLMC Insured | ||||||||||||
270 | 3.450%,01/01/22 | 276 | ||||||||||
Hawaii State, Housing Finance & Development, Wilikina Apartments Project, Ser A, RB | ||||||||||||
1,000 | 5.000%,05/01/34 | 1,031 | ||||||||||
Hawaii State, Ser DZ, GO | ||||||||||||
300 | 5.000%,12/01/21, Pre-Refunded @ 100(A) | 319 | ||||||||||
225 | 4.000%,12/01/30 | 234 | ||||||||||
200 | 4.000%,12/01/31 | 208 | ||||||||||
Hawaii State, Ser EA, GO | ||||||||||||
435 | 5.000%,12/01/21 | 463 | ||||||||||
1,700 | 5.000%,12/01/22 | 1,808 | ||||||||||
Hawaii State, Ser EE-2017, GO | ||||||||||||
400 | 5.000%,11/01/22, Pre-Refunded @ 100 (A) | 439 | ||||||||||
Hawaii State, Ser EF, GO | ||||||||||||
300 | 5.000%,11/01/23 | 329 | ||||||||||
500 | 5.000%,11/01/24 | 548 | ||||||||||
Hawaii State, Ser EH, GO | ||||||||||||
45 | 5.000%,08/01/23, Pre-Refunded @ 100(A) | 51 | ||||||||||
125 | 5.000%,08/01/24 | 140 | ||||||||||
300 | 5.000%,08/01/29 | 335 | ||||||||||
295 | 5.000%,08/01/30 | 329 | ||||||||||
95 | 5.000%,08/01/32 | 106 | ||||||||||
Hawaii State, Ser EH-2017, GO | ||||||||||||
85 | 5.000%,08/01/23 (B) | 95 | ||||||||||
Hawaii State, Ser EO, GO | ||||||||||||
1,000 | 5.000%,08/01/29 | 1,152 | ||||||||||
1,000 | 5.000%,08/01/30 | 1,150 | ||||||||||
1,000 | 5.000%,08/01/33 | 1,146 | ||||||||||
Hawaii State, Ser EP, GO | ||||||||||||
500 | 5.000%,08/01/25 | 579 | ||||||||||
Hawaii State, Ser FG, GO | ||||||||||||
500 | 5.000%,10/01/30 | 608 | ||||||||||
200 | 5.000%,10/01/31 | 243 | ||||||||||
Hawaii State, Ser FH, GO | ||||||||||||
400 | 5.000%,10/01/28 | 489 | ||||||||||
Hawaii State, Ser FK, GO | ||||||||||||
1,500 | 5.000%,05/01/29 | 1,860 | ||||||||||
Hawaii State, Ser FN-REF, GO | ||||||||||||
625 | 5.000%,10/01/30 | 780 | ||||||||||
Hawaii State, Ser FT, GO | ||||||||||||
280 | 5.000%,01/01/29 | 353 | ||||||||||
750 | 5.000%,01/01/31 | 938 |
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||||||
Hawaii (continued) |
||||||||||||
Hawaii State, Ser FW, GO | ||||||||||||
$ 2,465 | 5.000%,01/01/37 | $ | 3,080 | |||||||||
1,000 | 5.000%,01/01/39 | 1,233 | ||||||||||
Honolulu Hawaii City & County, Board of Water Supply, Ser A, RB | ||||||||||||
500 | 5.000%,07/01/22, Pre-Refunded @ 100(A) | 543 | ||||||||||
915 | 5.000%,07/01/23 | 999 | ||||||||||
1,500 | 5.000%,07/01/24 | 1,657 | ||||||||||
250 | 5.000%,07/01/25 | 296 | ||||||||||
500 | 5.000%,07/01/26 | 607 | ||||||||||
700 | 5.000%,07/01/27 | 852 | ||||||||||
750 | 3.000%,07/01/45 | 771 | ||||||||||
Honolulu Hawaii City & County, GO | ||||||||||||
580 | 5.000%,03/01/30 | 766 | ||||||||||
215 | 4.000%,09/01/25 | 246 | ||||||||||
250 | 4.000%,09/01/27 | 297 | ||||||||||
250 | 4.000%,09/01/33 | 292 | ||||||||||
300 | 4.000%,09/01/39 | 350 | ||||||||||
Honolulu Hawaii City & County, Ser A, GO | ||||||||||||
305 | 5.250%,08/01/21, Pre-Refunded @ 100(A) | 322 | ||||||||||
1,000 | 5.000%,10/01/23 | 1,130 | ||||||||||
1,000 | 5.000%,10/01/27 | 1,197 | ||||||||||
350 | 5.000%,10/01/29 | 418 | ||||||||||
800 | 5.000%,10/01/31 | 946 | ||||||||||
1,500 | 5.000%,10/01/37 | 1,757 | ||||||||||
1,175 | 5.000%,09/01/38 | 1,464 | ||||||||||
325 | 4.000%,08/01/21, Pre-Refunded @ 100(A) | 337 | ||||||||||
Honolulu Hawaii City & County, Ser B, GO | ||||||||||||
120 | 5.000%,12/01/20 | 123 | ||||||||||
300 | 5.000%,08/01/21, Pre-Refunded @ 100(A) | 315 | ||||||||||
280 | 5.000%,11/01/22 | 307 | ||||||||||
200 | 5.000%,11/01/24 | 219 | ||||||||||
1,000 | 5.000%,11/01/25 | 1,095 | ||||||||||
500 | 5.000%,10/01/26 | 598 | ||||||||||
500 | 5.000%,10/01/28 | 597 | ||||||||||
Honolulu Hawaii City & County, Ser C, GO | ||||||||||||
125 | 5.000%,10/01/21 | 132 | ||||||||||
375 | 5.000%,08/01/32 | 485 | ||||||||||
1,000 | 5.000%,08/01/34 | 1,284 | ||||||||||
1,400 | 5.000%,08/01/44 | 1,749 | ||||||||||
1,200 | 4.000%,08/01/23 | 1,310 | ||||||||||
2,000 | 4.000%,10/01/32 | 2,263 | ||||||||||
145 | 3.000%,10/01/28 | 157 | ||||||||||
Honolulu Hawaii City & County, Wastewater System Authority, Ser A, RB | ||||||||||||
250 | 5.000%,07/01/21, Pre-Refunded @ 100(A) | 262 | ||||||||||
100 | 5.000%,07/01/22, Pre-Refunded @ 100(A) | 109 | ||||||||||
300 | 5.000%,07/01/24 | 345 |
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face Amount (000) |
Value (000) |
|||||||
Hawaii (continued) |
||||||||
Honolulu Hawaii City & County, Wastewater System Authority, Ser B, RB | ||||||||
$ 1,000 | 5.000%,07/01/23 | $ | 1,118 | |||||
Honolulu Hawaii City & County, Wastewater System Revenue, RB | ||||||||
1,000 | 5.000%,07/01/31 | 1,180 | ||||||
100 | 5.000%,07/01/32 | 128 | ||||||
500 | 5.000%,07/01/39 | 627 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser A, RB | ||||||||
650 | 5.000%,07/01/22 | 703 | ||||||
575 | 5.000%,07/01/49 | 708 | ||||||
500 | 4.000%,07/01/37 | 581 | ||||||
200 | 4.000%,07/01/49 | 227 | ||||||
Honolulu Hawaii City & County, Wastewater System Revenue, Ser B, RB | ||||||||
325 | 4.000%,07/01/33 | 365 | ||||||
Kauai County, GO | ||||||||
250 | 5.000%,08/01/37 | 305 | ||||||
Kauai County, Ser A, GO | ||||||||
250 | 5.000%,08/01/21 | 263 | ||||||
500 | 5.000%,08/01/23 | 543 | ||||||
250 | 4.000%,08/01/24 | 266 | ||||||
250 | 3.250%,08/01/23 | 257 | ||||||
Kauai County, Ser A, GO, NATL FGIC Insured | ||||||||
415 | 5.000%,08/01/21 | 416 | ||||||
Maui County, GO | ||||||||
250 | 5.000%,06/01/20 | 252 | ||||||
150 | 5.000%,06/01/21 | 157 | ||||||
Maui County, RB | ||||||||
2,000 | 3.250%,09/01/36 | 2,156 | ||||||
University of Hawaii, Ser B, RB | ||||||||
1,500 | 5.000%,10/01/34 | 1,764 | ||||||
1,000 | 4.000%,10/01/23 | 1,093 | ||||||
University of Hawaii, Ser E, RB | ||||||||
1,485 | 5.000%,10/01/25 | 1,774 | ||||||
1,350 | 5.000%,10/01/32 | 1,629 | ||||||
University of Hawaii, Ser F, RB | ||||||||
2,425 | 5.000%,10/01/35 | 2,988 | ||||||
|
|
|||||||
113,612 | ||||||||
|
|
|||||||
Indiana 0.0% |
||||||||
Indiana State, Housing & Community Development Authority, Ser C, RB, GNMA/FNMA/FHLMC Insured | ||||||||
65 | 4.100%,06/01/27 | 67 | ||||||
|
|
|||||||
Kentucky 1.1% |
||||||||
Kentucky Public Energy Authority, Ser B, RB | ||||||||
200 | 4.000%,07/01/22 | 206 |
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
Face |
Value (000) |
|||||||||||
Kentucky (continued) |
||||||||||||
Kentucky State, COP | ||||||||||||
$ 1,000 | 5.000%, 04/15/38 | $ | 1,198 | |||||||||
|
|
|||||||||||
1,404 | ||||||||||||
|
|
|||||||||||
Nebraska 0.9% |
||||||||||||
Omaha, Public Facilities, Ser C, RB | ||||||||||||
1,000 | 4.000%, 04/01/39 | 1,139 | ||||||||||
|
|
|||||||||||
New York 0.9% |
||||||||||||
New York City, Trust for Cultural Resources, Ser S, RB | ||||||||||||
1,000 | 5.000%, 07/01/41 | 1,138 | ||||||||||
|
|
|||||||||||
Oklahoma 1.0% |
||||||||||||
Comanche County, Educational Facilities Authority, Ser A, RB | ||||||||||||
500 | 5.000%, 12/01/30 | 597 | ||||||||||
Oklahoma City, Water Utilities Trust, RB | ||||||||||||
125 | 5.000%, 07/01/40 | 131 | ||||||||||
Oklahoma State, Development Finance Authority, RB | ||||||||||||
475 | 5.000%, 06/01/44 | 536 | ||||||||||
|
|
|||||||||||
1,264 | ||||||||||||
|
|
|||||||||||
Tennessee 0.5% |
||||||||||||
Memphis, Ser A, GO | ||||||||||||
500 | 5.000%, 04/01/26 | 590 | ||||||||||
|
|
|||||||||||
Texas 1.3% |
||||||||||||
Hays City, Consolidated Independent School District, GO, PSF-GTD Insured | ||||||||||||
500 | 4.000%, 08/15/29 | 566 | ||||||||||
Tomball City, Independent School District, GO, PSF-GTD Insured | ||||||||||||
1,000 | 5.000%, 02/15/28 | 1,168 | ||||||||||
|
|
|||||||||||
1,734 | ||||||||||||
|
|
|||||||||||
Utah 0.8% |
||||||||||||
Utah County, RB | ||||||||||||
500 | 4.000%, 12/01/39 | 583 | ||||||||||
Utah State, Charter School Finance Authority, Ser A, RB, UT CSCE Insured | ||||||||||||
450 | 4.000%, 10/15/40 | 476 | ||||||||||
|
|
|||||||||||
1,059 | ||||||||||||
|
|
|||||||||||
TOTAL MUNICIPAL BONDS (Cost $122,874) |
125,172 | |||||||||||
|
|
|||||||||||
CASH EQUIVALENT 0.6% | ||||||||||||
817,061 | BlackRock FedFund, Institutional Shares, 0.360% (C) (Cost $817) | 817 | ||||||||||
|
|
|||||||||||
TOTAL INVESTMENTS (Cost $123,691) 98.7% |
$ | 125,989 | ||||||||||
|
|
Percentages are based on Net Assets of $127,597 (000).
March 31, 2020 | www.bishopstreetfunds.com |
Hawaii Municipal Bond Fund | (unaudited) |
Schedule of Investments
as of March 31, 2020
(A) | Pre-Refunded SecurityThe maturity date shown is the pre-refunded date. |
(B) | Security is escrowed to maturity. |
(C) | The rate reported is the 7-day effective yield as of March 31, 2020. |
AGMAssured Guaranty Municipal
AMTAlternative Minimum Tax
COPCertificate of Participation
FGICFinancial Guarantee Insurance Corporation
FHLMCFederal Home Loan Mortgage Corporation
FNMAFederal National Mortgage Association
GNMAGovernment National Mortgage Association
GOGeneral Obligation
NATLNational Public Finance Guarantee Corporation
PSF-GTDGuaranteed by Permanent School Fund
RBRevenue Bond
SerSeries
UT CSCE Utah Charter School Enhancement Program
Cost figures are shown in thousands.
The following is a list of the inputs used as of March 31, 2020, in valuing the Funds investments carried at value (000):
Hawaii Municipal Bond Fund |
||||||||||||||||
Investments in Securities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Municipal Bonds |
$ | | $ | 125,172 | $ | | $ | 125,172 | ||||||||
Cash Equivalent |
817 | | | 817 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | 817 | $ | 125,172 | $ | | $ | 125,989 | ||||||||
|
|
|
|
|
|
|
|
For the period ended March 31, 2020, there have been no transfers in or out of Level 3.
Amounts designated as are $0.
For information regarding the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semi-annual and annual financial statements
BSF-QH-001-3400
March 31, 2020 | www.bishopstreetfunds.com |