Quarterly Holdings Report
for
Fidelity® New Jersey Municipal Income Fund
August 31, 2024
NJT-NPRT3-1024
1.805777.120
Municipal Bonds - 95.6%
 
  
Principal
Amount (a)
 
Value ($)
 
Delaware - 0.5%
 
  
  
Delaware River & Bay Auth. Rev. Series 2024 B:
  
  
  
 5% 1/1/41
 
500,000
560,480
 5% 1/1/42
 
800,000
893,063
 5% 1/1/43
 
600,000
667,349
 5% 1/1/44
 
425,000
471,171
TOTAL DELAWARE
  
  
2,592,063
Delaware, New Jersey - 0.4%
 
  
  
Delaware River & Bay Auth. Rev. Series 2022, 5% 1/1/42
 
2,075,000
2,272,422
New Jersey - 77.1%
 
  
  
Audubon Scd Series 2022, 2.75% 8/15/33 (Assured Guaranty Muni. Corp. Insured)
 
1,160,000
1,069,750
Bergen County Gen. Oblig. Series 2021 ABC, 2% 6/1/28
 
285,000
269,864
Berkely Township Series 2023, 3.25% 8/15/35
 
1,255,000
1,211,281
Casino Reinvestment Dev. Auth. N:
  
  
  
 Series 2024 A:
 
  
  
4% 11/1/44 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
3,000,000
2,962,838
5% 11/1/27 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
750,000
798,888
5% 11/1/28 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
1,000,000
1,083,100
 Series 2024 B:
 
  
  
5% 11/1/27 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
300,000
319,555
5% 11/1/28 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
350,000
379,085
5% 11/1/37 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
750,000
842,444
5% 11/1/44 (Assured Guaranty Muni. Corp. Insured) (b)
 
  
900,000
983,068
Englewood Gen. Oblig. Series 2021, 2% 2/1/29
 
560,000
517,767
Essex County Gen. Oblig. Series 2020, 2% 9/1/31
 
995,000
889,553
Gloucester County Impt. Auth. Rev. (Rowan Univ. Projs.) Series 2024, 5% 7/1/54 (Build America Mutual Assurance Insured)
 
4,650,000
4,978,205
Hanover Park Reg'l. High School Series 2023, 3.5% 3/15/31
 
1,120,000
1,127,202
Hillsborough Township Scd Series 2020, 2% 7/15/40
 
1,240,000
865,888
Howell Township Gen. Oblig. Series 2020, 2% 10/1/31
 
1,000,000
876,791
Hudson County Gen. Oblig. Series 2020, 3% 11/15/32
 
485,000
474,888
Hudson County Impt. Auth. (Hudson County Courthouse Proj.) Series 2020, 3% 10/1/36
 
2,950,000
2,756,618
Jersey City Gen. Oblig. Series 2022 A, 3% 2/15/37
 
1,000,000
925,935
Lyndhurst Township Gen. Oblig. Series 2021, 2% 3/1/35
 
2,850,000
2,328,204
Mercer County Gen. Oblig. Series 2021, 2.375% 2/15/30
 
2,280,000
2,151,349
Millburn Township Board of Ed. Series 2023:
  
  
  
 1% 8/15/27
 
1,430,000
1,339,882
 1% 8/15/28
 
1,100,000
1,008,778
Monmouth County Impt. Auth. Rev. Series 2021 A, 3% 3/1/33
 
385,000
380,949
Montclair Township N J Board Ed. Series 2023, 3.25% 1/15/38 (Build America Mutual Assurance Insured)
 
1,825,000
1,722,054
Morris County Gen. Oblig. Series 2021, 2% 2/1/29
 
1,085,000
1,018,325
New Jersey Econ. Dev. Auth.:
  
  
  
 (White Horse HMT Urban Renewal LLC Proj.) Series 2020, 5% 1/1/40 (c)
  
1,000,000
691,185
 Series 2015, 5.25% 6/15/27
 
1,395,000
1,416,693
 Series 2024 SSS:
 
  
  
5% 6/15/33
 
  
1,725,000
1,975,186
5.25% 6/15/37
 
  
1,570,000
1,822,199
5.25% 6/15/38
 
  
2,000,000
2,308,969
5.25% 6/15/39
 
  
3,000,000
3,440,320
 Series A, 5% 11/1/35
 
5,000,000
5,389,013
 Series QQQ:
 
  
  
4% 6/15/46
 
  
1,250,000
1,218,177
4% 6/15/50
 
  
1,000,000
960,572
 Series WW, 5.25% 6/15/40 (Pre-Refunded to 6/15/25 @ 100)
 
105,000
107,202
New Jersey Econ. Dev. Auth. Lease Rev. (Health Dept. and Taxation Division Office Proj.) Series 2018 A, 5% 6/15/31
 
2,555,000
2,695,730
New Jersey Econ. Dev. Auth. Motor Vehicle Rev.:
  
  
  
 Series 2017 A, 3.375% 7/1/30
 
3,705,000
3,633,656
 Series 2017 B, 3.125% 7/1/29
 
1,335,000
1,305,402
New Jersey Econ. Dev. Auth. Rev.:
  
  
  
 (Black Horse EHT Urban Renewal LLC Proj.) Series 2019 A, 5% 10/1/39 (c)
  
1,250,000
918,849
 (Goethals Bridge Replacement Proj.) Series 2013, 5.125% 1/1/34 (d)
  
1,500,000
1,501,481
 (Provident Montclair Proj.) Series 2017:
 
  
  
5% 6/1/30 (Assured Guaranty Muni. Corp. Insured)
 
  
1,500,000
1,568,335
5% 6/1/31 (Assured Guaranty Muni. Corp. Insured)
 
  
1,500,000
1,565,718
5% 6/1/37 (Assured Guaranty Muni. Corp. Insured)
 
  
4,000,000
4,138,578
New Jersey Econ. Dev. Auth. Spl. Facilities Rev. (Port Newark Container Term. LLC. Proj.) Series 2017, 5% 10/1/37 (d)
  
1,430,000
1,477,532
New Jersey Econ. Dev. Auth. Wtr. Facilities Rev.:
  
  
  
 (Middlesex Wtr. Co. Proj.) Series 2019:
 
  
  
4% 8/1/59 (d)
 
  
1,000,000
921,022
5% 8/1/59 (d)
 
  
1,000,000
1,028,095
 Bonds (New Jersey- American Wtr. Co., INC. Proj.) Series 2020 B, 3.75%, tender 6/1/28 (d)(e)
  
5,000,000
5,041,570
New Jersey Edl. Facilities Auth. Rev.:
  
  
  
 Series 2021 C, 2% 3/1/36
 
2,000,000
1,617,937
 Series 2024 A:
 
  
  
5% 7/1/26 (Assured Guaranty Muni. Corp. Insured)
 
  
1,200,000
1,250,271
5% 7/1/27 (Assured Guaranty Muni. Corp. Insured)
 
  
1,445,000
1,538,317
5% 7/1/44 (Assured Guaranty Muni. Corp. Insured)
 
  
1,400,000
1,571,045
New Jersey Edl. Facility:
  
  
  
 (Stevens Institute of Techonolgy Proj.) Series 2017 A:
 
  
  
5% 7/1/25
 
  
600,000
608,623
5% 7/1/26
 
  
945,000
975,553
5% 7/1/29
 
  
865,000
909,494
 Series 2015 B, 5% 7/1/31
 
3,000,000
3,040,961
 Series 2016 A:
 
  
  
5% 7/1/27
 
  
2,875,000
2,970,998
5% 7/1/29
 
  
1,000,000
1,031,098
5% 7/1/32
 
  
600,000
616,937
 Series 2016 E, 5% 7/1/32 (Build America Mutual Assurance Insured)
 
3,335,000
3,443,321
 Series A:
 
  
  
4% 7/1/50
 
  
3,000,000
2,782,523
5% 7/1/32
 
  
420,000
454,267
5% 7/1/33
 
  
675,000
727,674
5% 7/1/34
 
  
540,000
580,186
5% 7/1/35
 
  
570,000
609,977
5% 7/1/36
 
  
1,095,000
1,166,111
5% 7/1/37
 
  
1,095,000
1,161,669
5% 7/1/38
 
  
985,000
1,039,743
5% 7/1/39
 
  
1,040,000
1,091,913
5% 7/1/40
 
  
1,035,000
1,082,373
5% 7/1/45
 
  
3,500,000
3,622,508
New Jersey Gen. Oblig.:
  
  
  
 Series 2020 A, 3% 6/1/32
 
4,240,000
4,176,372
 Series 2021:
 
  
  
2% 6/1/26
 
  
6,300,000
6,174,555
2% 6/1/27
 
  
2,000,000
1,919,166
2% 6/1/29
 
  
3,110,000
2,869,113
New Jersey Health Care Facilities Fing. Auth. Rev.:
  
  
  
 (Inspira Health Proj.) Series 2017 A, 5% 7/1/42
 
5,325,000
5,473,639
 (St Joseph Hosp. & Med. Ctr., Proj.) Series 2016, 5% 7/1/25
 
700,000
706,055
 Series 2014 A, 4% 7/1/45
 
1,300,000
1,237,930
 Series 2015 A, 4.125% 7/1/38 (Assured Guaranty Muni. Corp. Insured)
 
1,000,000
1,001,896
 Series 2016 A:
 
  
  
5% 7/1/27
 
  
100,000
103,876
5% 7/1/39
 
  
11,000,000
11,279,960
5% 7/1/43
 
  
2,500,000
2,551,577
 Series 2016:
 
  
  
4% 7/1/48
 
  
425,000
388,380
5% 7/1/26
 
  
800,000
816,712
5% 7/1/31
 
  
400,000
418,389
5% 7/1/35
 
  
950,000
965,727
5% 7/1/36
 
  
565,000
573,297
5% 7/1/41
 
  
6,085,000
6,119,224
 Series 2017 A, 5% 7/1/25
 
110,000
112,032
 Series 2019:
 
  
  
3% 7/1/49
 
  
9,640,000
7,659,348
5% 7/1/34
 
  
960,000
1,036,383
 Series 2021 A, 5% 7/1/25
 
3,000,000
3,054,430
 Series 2021:
 
  
  
3% 7/1/46
 
  
7,140,000
5,749,786
4% 7/1/35
 
  
750,000
778,728
4% 7/1/37
 
  
700,000
720,492
5% 7/1/33
 
  
1,420,000
1,574,378
5% 7/1/34
 
  
1,250,000
1,384,579
 Series 2024 A:
 
  
  
4.125% 7/1/54
 
  
6,000,000
5,891,200
5% 7/1/27
 
  
735,000
780,962
5% 7/1/28
 
  
1,000,000
1,083,824
5% 7/1/29
 
  
455,000
502,427
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.:
  
  
  
 Series 2016 1A, 5% 12/1/25 (d)
  
1,400,000
1,428,385
 Series 2017 1A:
 
  
  
5% 12/1/25 (d)
 
  
3,000,000
3,060,826
5% 12/1/27 (d)
 
  
2,500,000
2,588,583
 Series 2018 B:
 
  
  
5% 12/1/26 (d)
 
  
255,000
263,197
5% 12/1/28 (d)
 
  
950,000
1,002,961
 Series 2019 A:
 
  
  
5% 12/1/27
 
  
2,000,000
2,129,633
5% 12/1/28
 
  
700,000
748,173
 Series 2021 A:
 
  
  
5% 12/1/26 (d)
 
  
325,000
335,447
5% 12/1/27 (d)
 
  
325,000
340,817
5% 12/1/28 (d)
 
  
400,000
424,252
5% 12/1/29 (d)
 
  
1,050,000
1,122,659
 Series 2021 B:
 
  
  
5% 12/1/27 (d)
 
  
1,325,000
1,389,486
5% 12/1/28 (d)
 
  
1,450,000
1,537,913
5% 12/1/29 (d)
 
  
1,415,000
1,512,917
 Series 2023 A:
 
  
  
5% 12/1/25 (d)
 
  
575,000
586,658
5% 12/1/26 (d)
 
  
1,275,000
1,315,984
 Series 2023 B:
 
  
  
5% 12/1/25 (d)
 
  
1,850,000
1,887,509
5% 12/1/26 (d)
 
  
7,000,000
7,225,008
 Series 2024 A:
 
  
  
5% 12/1/29 (d)
 
  
1,900,000
2,031,479
5% 12/1/30 (d)
 
  
1,875,000
2,021,483
5% 12/1/31 (d)
 
  
1,270,000
1,377,321
 Series 2024 B, 5% 12/1/28 (d)
  
1,900,000
2,015,197
 Series 2024 C, 5.25% 12/1/54 (d)
  
2,225,000
2,285,510
New Jersey Hsg. & Mtg. Fin. Agcy. Multi-family Rev. Series 2023 C:
  
  
  
 5% 11/1/28 (d)
  
1,875,000
1,968,314
 5% 5/1/29 (d)
  
1,885,000
1,984,924
 5% 11/1/29 (d)
  
1,950,000
2,057,501
 5% 5/1/30 (d)
  
2,000,000
2,110,908
 5% 11/1/30 (d)
  
2,045,000
2,157,584
New Jersey Hsg. & Mtg. Fin. Agcy. Rev.:
  
  
  
 Series 2019 D, 4% 10/1/24 (d)
  
2,370,000
2,370,227
 Series 2020 E, 1.75% 4/1/30
 
900,000
792,561
 Series 2021 H:
 
  
  
5% 4/1/28
 
  
300,000
319,731
5% 10/1/28
 
  
480,000
515,724
5% 4/1/29
 
  
500,000
542,774
 Series 2022 I, 5% 10/1/53
 
3,335,000
3,481,072
New Jersey Institute of Technology Series A:
  
  
  
 5% 7/1/31
 
375,000
409,705
 5% 7/1/32
 
375,000
409,122
 5% 7/1/33
 
170,000
185,253
New Jersey Tobacco Settlement Fing. Corp.:
  
  
  
 Series 2018 A:
 
  
  
5% 6/1/26
 
  
5,000,000
5,131,760
5% 6/1/27
 
  
1,000,000
1,039,475
5% 6/1/28
 
  
2,000,000
2,106,180
 Series 2018 B, 5% 6/1/46
 
5,570,000
5,620,271
New Jersey Tpk. Auth. Tpk. Rev. Series 2024, 5% 1/1/30
 
6,345,000
7,070,796
New Jersey Trans. Trust Fund Auth.:
  
  
  
 (Trans. Prog.) Series 2019 AA, 5.25% 6/15/43
 
520,000
545,374
 Series 2006 C:
 
  
  
0% 12/15/26 (AMBAC Insured)
 
  
10,000,000
9,315,070
0% 12/15/34
 
  
5,800,000
4,055,330
 Series 2008 A, 0% 12/15/36
 
25,000,000
15,671,450
 Series 2009 A:
 
  
  
0% 12/15/33
 
  
1,135,000
819,527
0% 12/15/38
 
  
13,900,000
7,902,656
 Series 2010 A:
 
  
  
0% 12/15/27
 
  
3,000,000
2,704,055
0% 12/15/28
 
  
9,800,000
8,547,399
0% 12/15/30
 
  
14,795,000
12,013,723
0% 12/15/32
 
  
355,000
266,215
 Series 2010 A3, 0% 12/15/34
 
10,775,000
7,458,091
 Series 2014 AA:
 
  
  
5% 6/15/38
 
  
770,000
770,653
5% 6/15/44
 
  
555,000
555,241
 Series 2016 A, 5% 6/15/29
 
750,000
775,202
 Series 2019 BB, 4% 6/15/38
 
1,035,000
1,041,780
 Series 2020 AA, 3% 6/15/50
 
7,500,000
5,867,865
 Series 2022 AA, 5% 6/15/38
 
6,440,000
7,147,728
 Series 2023 BB, 5.25% 6/15/50
 
10,000,000
10,942,166
 Series A:
 
  
  
0% 12/15/31
 
  
365,000
284,903
5% 12/15/33
 
  
2,850,000
3,105,834
 Series AA:
 
  
  
4% 6/15/50
 
  
4,300,000
4,130,459
5% 6/15/50
 
  
1,000,000
1,050,808
Newark Port Auth. Hsg. Auth. Rev. Series 2007, 5.25% 1/1/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured)
 
200,000
200,874
Ocean City Gen. Oblig. Series 2019, 2.25% 9/15/32
 
455,000
403,853
Passaic County Gen. Oblig.:
  
  
  
 Series 2020 C, 2% 11/1/33
 
685,000
581,840
 Series 2021 AB:
 
  
  
2% 11/1/34
 
  
1,840,000
1,528,195
2% 11/1/36
 
  
1,230,000
980,162
Passaic County N J Impt. Auth. Cha:
  
  
  
 (Paterson Arts & Science Charter School Proj.) Series 2023, 4.25% 7/1/33
 
570,000
581,595
 (Paterson Arts and Science Charter School Proj.) Series 2023:
 
  
  
5.25% 7/1/43
 
  
670,000
699,207
5.375% 7/1/53
 
  
1,000,000
1,032,703
5.5% 7/1/58
 
  
635,000
658,490
Piscataway Township Gen. Oblig. Series 2020, 2% 10/15/34
 
1,485,000
1,220,412
Princeton Borough Gen. Oblig. Series 2021, 2.5% 9/15/32
 
835,000
758,683
Rahway Board of Ed. Series 2021:
  
  
  
 2.125% 7/15/32
 
2,400,000
2,098,807
 2.125% 7/15/37 (Build America Mutual Assurance Insured)
 
1,110,000
863,752
 2.125% 7/15/38 (Build America Mutual Assurance Insured)
 
1,400,000
1,064,707
River Vale Township School District Series 2021, 2% 6/15/30
 
1,020,000
918,974
Salem County Indl. Poll. Cont. Fing. Auth. Poll. Cont. Rev. Bonds (Philadelphia Elec. Co. Proj.) Series 1993 A, 4.45%, tender 3/1/25 (d)(e)
  
3,200,000
3,207,993
Sayreville N J Series 2021:
  
  
  
 2% 11/1/33
 
1,925,000
1,620,697
 2% 11/1/34
 
1,935,000
1,597,589
South Jersey Port Corp. Rev. (New Jersey Gen. Oblig. Proj.) Series 2017 B:
  
  
  
 5% 1/1/29 (d)
  
955,000
1,008,655
 5% 1/1/31 (d)
  
1,950,000
2,054,064
 5% 1/1/33 (d)
  
750,000
785,076
 5% 1/1/35 (d)
  
2,000,000
2,084,267
South Jersey Trans. Auth. Trans. Sys. Rev.:
  
  
  
 Series 2019 A:
 
  
  
5% 11/1/28 (Assured Guaranty Muni. Corp. Insured)
 
  
200,000
215,770
5% 11/1/31 (Assured Guaranty Muni. Corp. Insured)
 
  
1,500,000
1,632,181
5% 11/1/32 (Assured Guaranty Muni. Corp. Insured)
 
  
1,230,000
1,335,564
5% 11/1/33 (Assured Guaranty Muni. Corp. Insured)
 
  
750,000
812,758
 Series 2020 A:
 
  
  
5% 11/1/45
 
  
7,000,000
7,327,709
5% 11/1/45 (Build America Mutual Assurance Insured)
 
  
2,000,000
2,141,913
The Board of Ed. of Newark Series 2021:
  
  
  
 4% 7/15/36 (Build America Mutual Assurance Insured)
 
775,000
800,851
 4% 7/15/37 (Build America Mutual Assurance Insured)
 
725,000
745,549
 5% 7/15/28 (Build America Mutual Assurance Insured)
 
300,000
324,655
 5% 7/15/29 (Build America Mutual Assurance Insured)
 
300,000
330,582
 5% 7/15/30 (Build America Mutual Assurance Insured)
 
300,000
335,277
 5% 7/15/31 (Build America Mutual Assurance Insured)
 
375,000
424,316
 5% 7/15/32 (Build America Mutual Assurance Insured)
 
400,000
451,020
 5% 7/15/33 (Build America Mutual Assurance Insured)
 
500,000
562,646
Washington Township Gloucester County Series 2021, 2% 5/15/33
 
1,000,000
849,304
Washington Township N J Board Ed. Morr Series 2023, 3.125% 8/15/35
 
1,515,000
1,446,096
TOTAL NEW JERSEY
  
  
418,969,276
New York And New Jersey - 15.5%
 
  
  
New Jersey Edl. Facilities Auth. Rev. Series 2024 B, 5.25% 3/1/54
 
6,185,000
6,976,712
Port Auth. of New York & New Jersey:
  
  
  
 Series 2014 185, 5% 9/1/30 (d)
  
1,105,000
1,106,205
 Series 2015 189, 3.25% 5/1/33
 
500,000
481,276
 Series 2016, 5% 11/15/32 (d)
  
5,000,000
5,172,838
 Series 2018:
 
  
  
5% 9/15/28 (d)
 
  
4,000,000
4,211,000
5% 9/15/34 (d)
 
  
5,000,000
5,204,876
 Series 2020 221, 4% 7/15/50 (d)
  
1,215,000
1,141,441
 Series 2021 227, 2% 10/1/31 (d)
  
2,685,000
2,288,639
 Series 2022 236, 5% 1/15/47 (d)
  
6,000,000
6,348,545
 Series 2023 238:
 
  
  
5% 7/15/35 (d)
 
  
3,525,000
3,915,536
5% 7/15/36 (d)
 
  
2,940,000
3,240,468
5% 7/15/37 (d)
 
  
1,765,000
1,937,843
5% 7/15/38 (d)
 
  
1,770,000
1,932,037
5% 7/15/39 (d)
 
  
1,685,000
1,833,500
 Series 207, 5% 9/15/29 (d)
  
1,750,000
1,839,003
 Series 214:
 
  
  
5% 9/1/30 (d)
 
  
250,000
266,844
5% 9/1/36 (d)
 
  
6,785,000
7,114,292
 Series 218, 5% 11/1/44 (d)
  
1,420,000
1,462,930
 Series 221:
 
  
  
4% 7/15/37 (d)
 
  
1,000,000
1,007,292
4% 7/15/45 (d)
 
  
1,500,000
1,442,512
5% 7/15/35 (d)
 
  
2,500,000
2,691,307
 Series 223:
 
  
  
4% 7/15/34 (d)
 
  
2,000,000
2,061,740
4% 7/15/35 (d)
 
  
2,250,000
2,306,917
4% 7/15/36 (d)
 
  
1,350,000
1,377,049
4% 7/15/37 (d)
 
  
2,750,000
2,791,521
4% 7/15/38 (d)
 
  
6,000,000
6,053,654
4% 7/15/39 (d)
 
  
4,000,000
4,006,288
5% 7/15/56 (d)
 
  
3,500,000
3,632,617
TOTAL NEW YORK AND NEW JERSEY
  
  
83,844,882
Pennsylvania, New Jersey - 0.4%
 
  
  
Delaware River Joint Toll Bridge Commission Pennsylvania-New Jersey Bridge Rev. Series 2019 A, 5% 7/1/44
 
700,000
736,854
Delaware River Port Auth. Pennsylvania & New Jersey Rev. Series 2018 A, 5% 1/1/37
 
1,200,000
1,289,794
TOTAL PENNSYLVANIA, NEW JERSEY
  
  
2,026,648
Puerto Rico - 1.7%
 
  
  
Puerto Rico Commonwealth Aqueduct & Swr. Auth. Series 2021 B, 5% 7/1/37 (c)
  
1,395,000
1,465,489
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1:
  
  
  
 0% 7/1/33
 
1,552,650
1,044,355
 5.625% 7/1/27
 
175,000
182,213
 5.625% 7/1/29
 
545,000
585,956
 5.75% 7/1/31
 
1,300,000
1,439,322
Puerto Rico Indl., Tourist, Edl., Med. And Envir. Cont. Facilities Fing. Auth. Series 2021:
  
  
  
 4% 7/1/41
 
195,000
182,125
 5% 7/1/30
 
860,000
939,281
 5% 7/1/32
 
125,000
135,302
 5% 7/1/34
 
110,000
118,571
 5% 7/1/35
 
480,000
515,935
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev.:
  
  
  
 Series 2018 A1, 0% 7/1/31
 
1,465,000
1,122,683
 Series 2019 A2:
 
  
  
4.329% 7/1/40
 
  
564,000
556,969
4.55% 7/1/40
 
  
1,050,000
1,052,024
TOTAL PUERTO RICO
  
  
9,340,225
 
TOTAL MUNICIPAL BONDS
 (Cost $511,953,642)
  
  
  
519,045,516
 
  
  
  
Municipal Notes - 2.0%
 
  
Principal
Amount (a)
 
Value ($)
 
New Jersey - 2.0%
 
  
  
New Jersey Health Care Facilities Fing. Auth. Rev. (Virtua Health Proj.) Series 2009 C, 2.6% 9/3/24, LOC JPMorgan Chase Bank, VRDN (e)
  (Cost $11,000,000)
  
11,000,000
11,000,000
 
  
  
  
Municipal Bond Funds - 3.1%
 
  
Shares
Value ($)
 
Fidelity Municipal Cash Central Fund 3.22% (f)(g)
 
 (Cost $16,835,670)
 
  
16,832,303
16,835,673
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.7%
 (Cost $539,789,312)
 
  
 
546,881,189
NET OTHER ASSETS (LIABILITIES) - (0.7)%  
(3,627,608)
NET ASSETS - 100.0%
543,253,581
 
  
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)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(c)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $3,075,523 or 0.6% of net assets.
 
(d)
Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.
 
(e)
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
 
(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 3.22%
31,014,001
48,974,301
63,152,417
888,890
(212)
-
16,835,673
0.7%
Total
31,014,001
48,974,301
63,152,417
888,890
(212)
-
16,835,673
  
 
  
  
  
  
  
  
  
  
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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