UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-2890
Fidelity Phillips Street Trust
(Exact name of registrant as specified in charter)
82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)
Scott C. Goebel, Secretary
82 Devonshire St.
Boston, Massachusetts 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-563-7000
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Date of fiscal year end: |
November 30 |
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Date of reporting period: |
August 31, 2012 |
Item 1. Schedule of Investments
Quarterly Holdings Report
for
Fidelity ® Cash Reserves Fund
August 31, 2012
1.805742.108
CAS-QTLY-1012
Showing Percentage of Net Assets
|
Certificate of Deposit - 37.6% |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
Domestic Certificates Of Deposit - 1.1% |
||||
|
Branch Banking & Trust Co. |
||||
|
|
10/22/12 to 11/1/12 |
0.42% |
$ 605,000 |
$ 605,000 |
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State Street Bank & Trust Co., Boston |
||||
|
|
9/13/12 to 9/14/12 |
0.28 |
608,000 |
608,000 |
|
|
|
1,213,000 |
||
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London Branch, Eurodollar, Foreign Banks - 6.5% |
||||
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Australia & New Zealand Banking Group Ltd. |
||||
|
|
12/10/12 to 12/14/12 |
0.40 to 0.41 |
488,000 |
488,010 |
|
Commonwealth Bank of Australia |
||||
|
|
9/18/12 |
0.30 |
405,000 |
405,000 |
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HSBC Bank PLC |
||||
|
|
12/28/12 |
0.42 |
406,000 |
406,000 |
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Mitsubishi UFJ Trust & Banking Corp. |
||||
|
|
10/9/12 |
0.43 |
129,000 |
129,000 |
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Mizuho Corporate Bank Ltd. |
||||
|
|
10/9/12 to 10/30/12 |
0.43 to 0.44 |
399,000 |
399,000 |
|
National Australia Bank Ltd. |
||||
|
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9/10/12 to 1/11/13 |
0.35 to 0.42 (c) |
5,686,000 |
5,686,000 |
|
|
|
7,513,010 |
||
|
New York Branch, Yankee Dollar, Foreign Banks - 30.0% |
||||
|
Bank of Montreal Chicago CD Program |
||||
|
|
9/26/12 to 9/6/13 |
0.30 to 0.55 (c) |
2,072,000 |
2,072,000 |
|
Bank of Nova Scotia |
||||
|
|
9/5/12 to 6/17/13 |
0.31 to 0.59 (c) |
3,718,000 |
3,718,000 |
|
Bank of Tokyo-Mitsubishi UFJ Ltd. |
||||
|
|
9/4/12 to 3/4/13 |
0.48 to 0.50 (c) |
5,449,000 |
5,449,000 |
|
Canadian Imperial Bank of Commerce |
||||
|
|
9/24/12 to 9/17/13 |
0.41 to 0.55 (c) |
2,726,000 |
2,726,000 |
|
Credit Suisse New York Branch |
||||
|
|
10/1/12 to 10/9/12 |
0.37 to 0.38 |
1,500,000 |
1,500,000 |
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DnB NOR Bank ASA |
||||
|
|
9/13/12 to 9/20/12 |
0.32 |
712,000 |
711,999 |
|
Mitsubishi UFJ Trust & Banking Corp. |
||||
|
|
10/22/12 |
0.43 |
50,000 |
50,000 |
|
Mizuho Corporate Bank Ltd. |
||||
|
|
9/4/12 to 12/6/12 |
0.30 to 0.40 |
3,908,000 |
3,908,000 |
|
Certificate of Deposit - continued |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
New York Branch, Yankee Dollar, Foreign Banks - continued |
||||
|
National Bank of Canada |
||||
|
|
2/4/13 to 2/20/13 |
0.37 to 0.54% (c) |
$ 952,000 |
$ 952,000 |
|
Nordea Bank Finland PLC |
||||
|
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9/4/12 to 9/10/12 |
0.30 to 0.31 |
696,000 |
696,000 |
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Royal Bank of Canada |
||||
|
|
12/7/12 to 9/1/13 |
0.51 to 0.82 (c) |
1,635,000 |
1,635,000 |
|
Royal Bank of Canada New York Branch |
||||
|
|
9/6/13 |
0.49 (c) |
750,000 |
749,847 |
|
Skandinaviska Enskilda Banken |
||||
|
|
11/8/12 |
0.36 |
482,000 |
482,000 |
|
Sumitomo Mitsui Banking Corp. |
||||
|
|
9/14/12 to 2/28/13 |
0.39 to 0.44 (c) |
5,104,000 |
5,104,000 |
|
Sumitomo Trust & Banking Co. Ltd. |
||||
|
|
10/9/12 to 11/26/12 |
0.41 to 0.42 |
2,620,000 |
2,620,000 |
|
Svenska Handelsbanken, Inc. |
||||
|
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9/17/12 to 12/27/12 |
0.27 to 0.31 |
567,000 |
567,000 |
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Toronto-Dominion Bank |
||||
|
|
10/19/12 to 3/28/13 |
0.30 to 0.48 (c) |
1,562,000 |
1,562,000 |
|
|
|
34,502,846 |
||
|
TOTAL CERTIFICATE OF DEPOSIT |
|
|||
|
Financial Company Commercial Paper - 12.6% |
||||
|
|
||||
|
Barclays Bank PLC |
||||
|
|
9/13/12 to 9/26/12 |
0.73 (b) |
202,000 |
202,000 |
|
Barclays Bank PLC/Barclays U.S. CCP Funding LLC |
||||
|
|
9/14/12 to 9/19/12 |
0.28 |
197,000 |
196,975 |
|
BAT International Finance PLC |
||||
|
|
10/12/12 to 10/15/12 |
0.43 |
41,500 |
41,479 |
|
Citigroup Funding, Inc. |
||||
|
|
9/5/12 to 9/25/12 |
0.50 to 0.60 |
1,939,000 |
1,938,636 |
|
Commonwealth Bank of Australia |
||||
|
|
10/22/12 to 12/21/12 |
0.29 to 0.40 (c) |
771,000 |
770,747 |
|
Credit Suisse New York Branch |
||||
|
|
10/1/12 to 10/9/12 |
0.37 to 0.38 |
704,000 |
703,764 |
|
Financial Company Commercial Paper - continued |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
DNB Bank ASA |
||||
|
|
9/18/12 to 10/1/12 |
0.33% |
$ 1,192,000 |
$ 1,191,767 |
|
General Electric Capital Corp. |
||||
|
|
1/7/13 to 1/10/13 |
0.40 |
797,000 |
795,857 |
|
JPMorgan Chase & Co. |
||||
|
|
9/12/12 to 11/15/12 |
0.28 to 0.29 (c) |
1,097,000 |
1,096,823 |
|
Nationwide Building Society |
||||
|
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10/30/12 to 11/7/12 |
0.35 |
528,000 |
527,672 |
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Nordea North America, Inc. |
||||
|
|
9/4/12 to 9/6/12 |
0.30 |
831,000 |
830,973 |
|
PNC Bank NA |
||||
|
|
2/15/13 |
0.39 |
255,000 |
254,539 |
|
Skandinaviska Enskilda Banken AB |
||||
|
|
11/5/12 to 11/28/12 |
0.36 to 0.37 |
703,000 |
702,488 |
|
Svenska Handelsbanken, Inc. |
||||
|
|
9/12/12 to 12/28/12 |
0.27 to 0.31 |
714,000 |
713,651 |
|
Swedbank AB |
||||
|
|
9/7/12 to 12/14/12 |
0.30 to 0.37 |
600,950 |
600,590 |
|
Toyota Motor Credit Corp. |
||||
|
|
2/27/13 to 3/5/13 |
0.31 to 0.32 |
314,000 |
313,500 |
|
UBS Finance, Inc. |
||||
|
|
10/12/12 to 11/5/12 |
0.40 |
2,713,000 |
2,711,511 |
|
Westpac Banking Corp. |
||||
|
|
12/17/12 to 12/19/12 |
0.40 |
900,000 |
898,919 |
|
TOTAL FINANCIAL COMPANY COMMERCIAL PAPER |
|
|||
|
Asset Backed Commercial Paper - 0.2% |
||||
|
|
||||
|
Ciesco LP (Citibank NA Guaranteed) |
||||
|
|
9/5/12 |
0.43 |
134,000 |
133,994 |
|
Govco, Inc. (Liquidity Facility Citibank NA) |
||||
|
|
9/5/12 |
0.43 |
134,000 |
133,994 |
|
TOTAL ASSET BACKED COMMERCIAL PAPER |
|
|||
|
Other Commercial Paper - 2.7% |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
Devon Energy Corp. |
||||
|
|
10/1/12 |
0.44% (c) |
$ 569,000 |
$ 569,000 |
|
Dominion Resources, Inc. |
||||
|
|
9/18/12 to 10/4/12 |
0.42 |
133,437 |
133,398 |
|
Ecolab, Inc. |
||||
|
|
10/15/12 |
0.54 (c) |
242,000 |
242,000 |
|
General Electric Co. |
||||
|
|
9/27/12 |
0.18 |
1,000,000 |
999,870 |
|
Hewlett-Packard Co. |
||||
|
|
9/7/12 to 9/12/12 |
0.43 |
94,000 |
93,991 |
|
Northeast Utilities |
||||
|
|
9/4/12 to 9/10/12 |
0.43 to 0.44 |
162,000 |
161,988 |
|
Sempra Global |
||||
|
|
9/10/12 to 9/27/12 |
0.40 to 0.45 |
100,000 |
99,984 |
|
Verizon Communications, Inc. |
||||
|
|
10/15/12 |
0.45 (c) |
375,000 |
375,000 |
|
Viacom, Inc. |
||||
|
|
9/10/12 to 9/11/12 |
0.42 |
57,000 |
56,994 |
|
Xerox Corp. |
||||
|
|
9/10/12 to 9/27/12 |
0.74 to 0.75 |
412,000 |
411,869 |
|
TOTAL OTHER COMMERCIAL PAPER |
|
|||
|
Treasury Debt - 18.8% |
||||
|
|
||||
|
U.S. Treasury Obligations - 18.8% |
||||
|
U.S. Treasury Bills |
||||
|
|
11/15/12 to 2/21/13 |
0.15 to 0.16 |
8,985,300 |
8,981,286 |
|
U.S. Treasury Notes |
||||
|
|
9/15/12 to 8/15/13 |
0.14 to 0.24 |
12,470,770 |
12,551,217 |
|
TOTAL TREASURY DEBT |
|
|||
|
Other Note - 2.2% |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
Medium-Term Notes - 2.2% |
||||
|
Royal Bank of Canada |
||||
|
|
9/1/13 to 9/13/13 |
0.56 to 0.72% (b)(c) |
$ 2,125,000 |
$ 2,125,000 |
|
|
9/6/13 |
0.49 (c) |
376,000 |
375,923 |
|
TOTAL OTHER NOTE |
|
|||
|
Variable Rate Demand Note - 1.8% |
||||
|
|
||||
|
Arizona - 0.0% |
||||
|
Arizona Health Facilities Auth. Rev. (Catholic Healthcare West Proj.) Series 2008 B, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.22 (c) |
16,300 |
16,300 |
|
California - 0.1% |
||||
|
California Health Facilities Fing. Auth. Rev. (Catholic Healthcare West Proj.) Series 2005 I, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.22 (c) |
30,970 |
30,970 |
|
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. (Recology, Inc. Proj.) Series 2010 A, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.18 (c) |
70,000 |
70,000 |
|
|
|
100,970 |
||
|
Florida - 0.0% |
||||
|
USF Fing. Corp. Ctfs. of Prtn. Series 2007, LOC JPMorgan Chase Bank, VRDN |
||||
|
|
9/7/12 |
0.18 (c) |
21,375 |
21,375 |
|
Georgia - 0.1% |
||||
|
Cobb County Kennestone Hosp. Auth. Rev. (WellStar Health Sys. Proj.) Series 2005 A, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.27 (c) |
57,000 |
57,000 |
|
Michigan - 0.0% |
||||
|
Michigan Hosp. Fin. Auth. Rev. (Henry Ford Health Sys. Proj.) Series 2007, LOC JPMorgan Chase Bank, VRDN |
||||
|
|
9/7/12 |
0.17 (c) |
47,900 |
47,900 |
|
Nevada - 0.0% |
||||
|
Clark County Arpt. Rev. Series 2008 D3, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.20 (c) |
53,015 |
53,015 |
|
New York - 0.4% |
||||
|
New York Dorm. Auth. Revs. (City Univ. Proj.) Series 2008 C, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.18 (c) |
115,150 |
115,150 |
|
Variable Rate Demand Note - continued |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
New York - continued |
||||
|
New York Hsg. Fin. Agcy. Rev. (101 West End Hsg. Proj.) Series 1998 A, LOC Fannie Mae, VRDN |
||||
|
|
9/7/12 |
0.17% (c)(d) |
$ 30,800 |
$ 30,800 |
|
New York Hsg. Fin. Agcy. Rev. (101 West End Hsg. Proj.) Series 1999 A, LOC Fannie Mae, VRDN |
||||
|
|
9/7/12 |
0.17 (c)(d) |
52,850 |
52,850 |
|
New York Hsg. Fin. Agcy. Rev. (55 West 25th Street Hsg. Proj.) Series 2005 A, LOC Fannie Mae, VRDN |
||||
|
|
9/7/12 |
0.17 (c)(d) |
105,400 |
105,400 |
|
New York Hsg. Fin. Agcy. Rev. (66 West 38th Street Hsg. Proj.) Series A, LOC Fannie Mae, VRDN |
||||
|
|
9/7/12 |
0.17 (c)(d) |
44,300 |
44,300 |
|
New York Metropolitan Trans. Auth. Rev. Series 2011 B, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.17 (c) |
97,560 |
97,560 |
|
|
|
446,060 |
||
|
Non State Specific - 0.2% |
||||
|
LP Pinewood SPV LLC Taxable LOC Wells Fargo Bank NA, VRDN |
||||
|
|
9/7/12 |
0.21 (c) |
181,000 |
181,000 |
|
North Carolina - 0.0% |
||||
|
North Carolina Med. Care Commission Hosp. Rev. (CaroMont Health Proj.) Series 2003 A, LOC Wells Fargo Bank NA, VRDN |
||||
|
|
9/7/12 |
0.17 (c) |
34,600 |
34,600 |
|
Pennsylvania - 0.0% |
||||
|
Philadelphia Wtr. & Wastewtr. Rev. Series 2005 B, LOC Bank of America NA, VRDN |
||||
|
|
9/7/12 |
0.18 (c) |
39,900 |
39,900 |
|
Texas - 1.0% |
||||
|
Gulf Coast Waste Disp. Auth. Solid Waste Disp. Rev. (Waste Mgmt., Inc. Proj.) Series A, LOC JPMorgan Chase Bank, VRDN |
||||
|
|
9/7/12 |
0.21 (c)(d) |
25,200 |
25,200 |
|
Texas Gen. Oblig. Participating VRDN Series Putters 4263, (Liquidity Facility JPMorgan Chase Bank) |
||||
|
|
9/4/12 |
0.20 (c)(e) |
678,000 |
678,000 |
|
Texas Gen. Oblig. Participating VRDN Series Putters 4264, (Liquidity Facility JPMorgan Chase Bank) |
||||
|
|
9/4/12 |
0.20 (c)(e) |
391,000 |
391,000 |
|
|
|
1,094,200 |
||
|
TOTAL VARIABLE RATE DEMAND NOTE |
|
|||
|
Government Agency Debt - 1.7% |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
Federal Agencies - 1.7% |
||||
|
Fannie Mae |
||||
|
|
2/22/13 to 3/15/13 |
0.16 to 0.18% |
$ 1,564,921 |
$ 1,567,096 |
|
Federal Home Loan Bank |
||||
|
|
11/6/12 to 3/25/13 |
0.17 to 0.25 |
296,555 |
296,666 |
|
Freddie Mac |
||||
|
|
3/28/13 |
0.18 |
70,493 |
70,722 |
|
TOTAL GOVERNMENT AGENCY DEBT |
|
|||
|
Insurance Company Funding Agreement - 0.2% |
||||
|
|
||||
|
Medium-Term Notes - 0.2% |
||||
|
Metropolitan Life Insurance Co. |
||||
|
|
11/29/12 |
0.66 (c)(f) |
162,000 |
|
|
Other Instrument - 1.8% |
||||
|
|
||||
|
Asset-Backed Securities - 0.0% |
||||
|
GE Equipment Small Ticket LLC |
||||
|
|
11/21/12 |
0.50 (b) |
2,802 |
2,802 |
|
Time Deposits - 1.8% |
||||
|
Lloyds TSB Bank PLC |
||||
|
|
9/4/12 to 9/5/12 |
0.18 |
2,069,000 |
2,069,000 |
|
TOTAL OTHER INSTRUMENT |
|
|||
|
Government Agency Repurchase Agreement - 6.8% |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
In a joint trading account at 0.21% dated 8/31/12 due 9/4/12 (Collateralized by U.S. Government Obligations) # |
$ 770,654 |
$ 770,636 |
|
|
With: |
|
|
|
|
Citibank NA at 0.19%, dated 8/28/12 due 9/4/12 (Collateralized by U.S. Government Obligations valued at $557,960,613, 2.15% - 6%, 5/1/18 - 10/1/48) |
547,020 |
547,000 |
|
|
Goldman Sachs & Co. at 0.19%, dated 8/31/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $718,095,160, 2.06% - 7%, 1/1/19 - 9/1/42) |
704,026 |
704,000 |
|
|
ING Financial Markets LLC at 0.22%, dated: |
|
|
|
|
8/22/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $455,248,527, 0.4% - 7.5%, 3/16/23 - 5/25/45) |
442,081 |
442,000 |
|
|
8/27/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $500,848,698, 1% - 6.33%, 6/30/16 - 9/1/47) |
491,090 |
491,000 |
|
|
Mitsubishi UFJ Securities (USA), Inc. at: |
|
|
|
|
0.23%, dated: |
|
|
|
|
8/22/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $1,561,409,874, 1.73% - 6.51%, 10/1/21 - 12/1/40) |
1,530,293 |
1,530,000 |
|
|
8/27/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $390,610,791, 3.5% - 5%, 3/1/42) |
382,073 |
382,000 |
|
|
0.24%, dated: |
|
|
|
|
8/3/12 due 9/4/12 (Collateralized by U.S. Government Obligations valued at $1,175,886,455, 2.17% - 5.5%, 4/1/25 - 7/1/42) |
1,152,246 |
1,152,000 |
|
|
8/16/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $780,758,102, 1.35% - 5.5%, 9/1/25 - 3/1/50) |
765,148 |
765,000 |
|
|
RBC Capital Markets Corp. at: |
|
|
|
|
0.19%, dated 8/27/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $188,384,105, 0.52% - 9.5%, 5/1/16 - 9/25/42) |
183,027 |
183,000 |
|
|
0.2%, dated 8/6/12 due 9/6/12 (Collateralized by U.S. Government Obligations valued at $365,145,267, 1.35% - 9.25%, 2/1/15 - 9/25/42) |
357,061 |
357,000 |
|
|
UBS Securities LLC at 0.2%, dated 8/20/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $545,419,553, 0.55% - 238%, 5/25/17 - 8/25/42) |
530,088 |
530,000 |
|
|
TOTAL GOVERNMENT AGENCY REPURCHASE AGREEMENT |
|
||
|
Other Repurchase Agreement - 13.8% |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
Other Repurchase Agreement - 13.8% |
|||
|
With: |
|
|
|
|
Barclays Capital, Inc. at 0.37%, dated 8/28/12 due 9/4/12 (Collateralized by Equity Securities valued at $85,321,993) |
$ 81,006 |
$ 81,000 |
|
|
BNP Paribas Securities Corp. at: |
|
|
|
|
0.32%, dated: |
|
|
|
|
8/29/12 due 9/5/12 (Collateralized by Corporate Obligations valued at $55,652,968, 1.51% - 8.70%, 3/15/14 - 5/30/42) |
53,003 |
53,000 |
|
|
8/30/12 due 9/6/12 (Collateralized by Corporate Obligations valued at $55,652,473, 1.30% - 7.50%, 12/17/12 - 6/30/66) |
53,003 |
53,000 |
|
|
0.53%, dated 8/27/12 due 9/4/12 (Collateralized by Corporate Obligations valued at $57,246,742, 5% - 11.88%, 10/1/13 - 6/15/33) |
53,006 |
53,000 |
|
|
Credit Suisse Securities (USA) LLC at: |
|
|
|
|
0.26%, dated 8/28/12 due 9/4/12 (Collateralized by U.S. Government Obligations valued at $207,034,565, 0% - 759%, 11/25/12 - 8/16/52) |
201,010 |
201,000 |
|
|
0.3%, dated 8/28/12 due 9/4/12 (Collateralized by Equity Securities valued at $347,781,352) |
322,019 |
322,000 |
|
|
0.85%, dated 8/1/12 due 10/30/12 (Collateralized by Corporate Obligations valued at $87,547,944, 1% - 3%, 2/15/13 - 8/15/37) |
81,172 |
81,000 |
|
|
0.89%, dated: |
|
|
|
|
8/8/12 due 11/6/12 (Collateralized by Corporate Obligations valued at $109,143,110, 0.38% - 5.96%, 4/25/36 - 9/25/47) |
101,225 |
101,000 |
|
|
8/20/12 due 11/19/12 (Collateralized by Corporate Obligations valued at $107,412,363, 0.38% - 3.01%, 5/25/26 - 1/15/37) |
100,225 |
100,000 |
|
|
8/22/12 due 11/19/12 (Collateralized by Corporate Obligations valued at $7,562,315, 2.21%, 4/25/34) |
7,015 |
7,000 |
|
|
Other Repurchase Agreement - continued |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
Other Repurchase Agreement - continued |
|||
|
With: - continued |
|
|
|
|
Credit Suisse Securities (USA) LLC at: - continued |
|
|
|
|
0.9%, dated: |
|
|
|
|
7/3/12 due 10/1/12 (Collateralized by Corporate Obligations valued at $111,405,446, 0.35% - 8.31%, 5/1/32 - 10/25/47) |
$ 103,232 |
$ 103,000 |
|
|
7/11/12 due: |
|
|
|
|
10/9/12 (Collateralized by Mortgage Loan Obligations valued at $221,682,340, 0.48% - 6.13%, 3/6/20 - 2/15/51) |
205,461 |
205,000 |
|
|
10/15/12 (Collateralized by Mortgage Loan Obligations valued at $221,683,246, 0% - 5.50%, 11/25/17 - 9/13/45) |
205,492 |
205,000 |
|
|
0.92%, dated: |
|
|
|
|
7/18/12 due 10/16/12 (Collateralized by Mortgage Loan Obligations valued at $331,933,359, 0.36% - 6.96%, 3/25/35 - 6/12/50) |
307,706 |
307,000 |
|
|
7/23/12 due 10/22/12 (Collateralized by Corporate Obligations valued at $220,540,631, 0.57% - 0.71%, 9/7/41 - 11/5/41) |
204,474 |
204,000 |
|
|
7/24/12 due 10/24/12 (Collateralized by Corporate Obligations valued at $109,186,217, 0.36% - 6.06%, 9/25/35 - 11/25/47) |
101,237 |
101,000 |
|
|
Deutsche Bank Securities, Inc. at 0.33%, dated 8/31/12 due 9/4/12 (Collateralized by Equity Securities valued at $72,362,655) |
67,002 |
67,000 |
|
|
ING Financial Markets LLC at 0.29%, dated 8/31/12 due 9/4/12 (Collateralized by Corporate Obligations valued at $121,800,118, 1.55% - 7.13%, 3/1/13 - 5/15/38) |
116,004 |
116,000 |
|
|
J.P. Morgan Clearing Corp. at: |
|
|
|
|
0.32%, dated 8/31/12 due 9/4/12 (Collateralized by Equity Securities valued at $1,282,620,115) |
1,180,042 |
1,180,000 |
|
|
0.63%, dated 7/20/12 due 10/18/12 (Collateralized by Equity Securities valued at $145,761,827) |
134,211 |
134,000 |
|
|
0.7%, dated 7/23/12 due 10/22/12 (Collateralized by Corporate Obligations valued at $583,063,081, 1% - 6%, 2/15/13 - 10/15/29) |
536,948 |
536,000 |
|
|
0.87%, dated 4/23/12 due 10/19/12 (Collateralized by Equity Securities valued at $293,316,995) |
270,164 |
269,000 |
|
|
Other Repurchase Agreement - continued |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
Other Repurchase Agreement - continued |
|||
|
With: - continued |
|
|
|
|
J.P. Morgan Securities, Inc. at: |
|
|
|
|
0.27%, dated 8/29/12 due 9/5/12 (Collateralized by U.S. Government Obligations valued at $1,458,622,312, 3% - 6.50%, 7/1/20 - 9/1/42) |
$ 1,430,075 |
$ 1,430,000 |
|
|
0.34%, dated 8/28/12 due 9/4/12 (Collateralized by Corporate Obligations valued at $194,256,293, 0% - 12%, 5/15/13 - 9/1/66) |
185,012 |
185,000 |
|
|
0.49%, dated 8/17/12 due 9/7/12 (Collateralized by Mortgage Loan Obligations valued at $287,335,531, 0.38% - 12.37%, 7/25/18 - 12/10/49) |
266,112 |
266,000 |
|
|
0.64%, dated 8/28/12 due 9/4/12 (Collateralized by Mortgage Loan Obligations valued at $57,244,165, 0.44% - 5.64%, 5/25/36 - 5/25/47) |
53,007 |
53,000 |
|
|
0.95%, dated 3/26/12 due 9/21/12 (Collateralized by Mortgage Loan Obligations valued at $203,888,832, 0% - 49.11%, 12/12/16 - 8/25/46) |
188,888 |
188,000 |
|
|
Merrill Lynch, Pierce, Fenner & Smith at: |
|
|
|
|
0.3%, dated 8/31/12 due 9/4/12 (Collateralized by Equity Securities valued at $3,834,128,375) |
3,550,118 |
3,550,000 |
|
|
0.65%, dated 8/31/12 due 9/4/12 (Collateralized by Corporate Obligations valued at $2,143,954,830, 0% - 113.15%, 11/8/12 - 8/15/56) |
1,985,143 |
1,985,000 |
|
|
Mizuho Securities USA, Inc. at: |
|
|
|
|
0.32%, dated 8/31/12 due 9/4/12 (Collateralized by Equity Securities valued at $315,371,289) |
292,010 |
292,000 |
|
|
0.33%, dated 8/31/12 due 9/4/12 (Collateralized by Equity Securities valued at $898,066,509) |
833,031 |
833,000 |
|
|
0.43%, dated 8/27/12 due 9/7/12 (Collateralized by Mortgage Loan Obligations valued at $212,120,580, 0.50% - 5.50%, 5/1/13 - 8/15/38) |
202,070 |
202,000 |
|
|
0.88%, dated 8/28/12 due 10/29/12 (Collateralized by Corporate Obligations valued at $69,104,581, 0.37% - 6.25%, 11/25/28 - 11/25/47) |
64,097 |
64,000 |
|
|
0.97%, dated 8/28/12 due 11/30/12 (Collateralized by Corporate Obligations valued at $68,598,262, 0.39% - 8%, 6/1/14 - 4/25/47) |
64,162 |
64,000 |
|
|
RBC Capital Markets Co. at: |
|
|
|
|
0.32%, dated 8/28/12 due 9/4/12 (Collateralized by U.S. Government Obligations valued at $90,645,640, 0% - 169%, 9/25/18 - 9/25/42) |
88,005 |
88,000 |
|
|
0.45%, dated 8/28/12 due 9/4/12 (Collateralized by Corporate Obligations valued at $64,629,894, 0% - 7.25%, 4/15/13 - 7/1/38) |
60,005 |
60,000 |
|
|
Other Repurchase Agreement - continued |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
Other Repurchase Agreement - continued |
|||
|
With: - continued |
|
|
|
|
RBC Capital Markets Co. at: |
|
|
|
|
0.58%, dated 7/5/12 due 9/7/12 (Collateralized by Mortgage Loan Obligations valued at $115,434,053, 0% - 7%, 11/25/20 - 2/10/51) |
$ 107,159 |
$ 107,000 |
|
|
0.61%, dated 6/12/12 due 9/7/12 (Collateralized by Corporate Obligations valued at: |
|
|
|
|
$114,083,598, 0.04% - 13.24%, 9/14/12 - 9/25/47 |
105,160 |
105,000 |
|
|
$45,396,292, 1.90% - 15%, 4/24/13 - 6/1/32) |
42,064 |
42,000 |
|
|
RBS Securities, Inc. at: |
|
|
|
|
0.65%, dated 8/10/12 due 9/7/12 (Collateralized by Corporate Obligations valued at $283,700,075, 0.04% - 12%, 2/1/15 - 10/15/27) |
266,149 |
266,000 |
|
|
0.95%, dated: |
|
|
|
|
8/17/12 due 9/17/12 (Collateralized by Corporate Obligations valued at $429,999,633, 0.28% - 38.19%, 8/25/32 - 11/23/52) |
398,326 |
398,000 |
|
|
8/24/12 due 9/21/12 (Collateralized by U.S. Government Obligations valued at $226,642,071, 0% - 11.20%, 10/25/13 - 7/25/52) |
220,163 |
220,000 |
|
|
Royal Bank of Scotland PLC at: |
|
|
|
|
0.65%, dated 8/10/12 due 9/7/12 (Collateralized by Mortgage Loan Obligations valued at $287,050,886, 0% - 7.86%, 3/25/18 - 7/15/46) |
266,149 |
266,000 |
|
|
0.95%, dated 8/30/12 due 10/1/12 (Collateralized by Mortgage Loan Obligations valued at $356,873,978, 0% - 41.13%, 1/18/15 - 2/10/51) |
331,280 |
331,000 |
|
|
UBS Securities LLC at: |
|
|
|
|
0.62%, dated: |
|
|
|
|
7/20/12 due 9/7/12 (Collateralized by Corporate Obligations valued at $100,538,495, 0.25% - 6%, 10/15/14 - 11/15/35) |
93,144 |
93,000 |
|
|
Other Repurchase Agreement - continued |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
Other Repurchase Agreement - continued |
|||
|
With: - continued |
|
|
|
|
UBS Securities LLC at: |
|
|
|
|
0.62%, dated: |
|
|
|
|
8/21/12 due 9/7/12 (Collateralized by Corporate Obligations valued at $88,581,353, 1.50% - 6%, 3/15/13 - 5/15/41) |
$ 82,127 |
$ 82,000 |
|
|
0.65%, dated 7/9/12 due 9/7/12 (Collateralized by Corporate Obligations valued at $144,868,942, 0.25% - 7.50%, 3/15/13 - 12/15/66) |
134,210 |
134,000 |
|
|
TOTAL OTHER REPURCHASE AGREEMENT |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $115,063,497) |
115,063,497 |
||
|
NET OTHER ASSETS (LIABILITIES) - (0.2)% |
(205,082) |
||
|
NET ASSETS - 100% |
$ 114,858,415 |
||
|
Security Type Abbreviations |
||
|
VRDN |
- |
VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly) |
|
Legend |
|
(a) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end. |
|
(b) 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 $2,329,802,000 or 2.0% of net assets. |
|
(c) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
|
(d) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
|
(e) Provides evidence of ownership in one or more underlying municipal bonds. |
|
(f) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $162,000,000 or 0.1% of net assets. |
|
Additional information on each restricted holding is as follows: |
|
Security |
Acquisition Date |
Cost |
|
Metropolitan Life Insurance Co. 0.66%, 11/29/12 |
7/18/12 |
$ 162,000 |
|
Repurchase Agreement / Counterparty |
Value |
|
$770,636,000 due 9/04/12 at 0.21% |
|
|
Bank of America NA |
$ 115,189 |
|
Barclays Capital, Inc. |
221,518 |
|
Deutsche Bank Securities, Inc. |
8,861 |
|
J.P. Morgan Securities, Inc. |
5,759 |
|
Mizuho Securities USA, Inc. |
332,278 |
|
RBC Capital Markets Corp. |
87,031 |
|
|
$ 770,636 |
|
Other Information |
|
The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets. |
|
All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs please refer to the Investment Valuation section at the end of this listing. |
|
Income Tax Information |
|
At August 31, 2012, the cost of investment securities for income tax purposes was $115,063,497,000. |
|
Investment Valuation |
|
Security transactions are accounted for as of trade date. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - 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). |
|
As permitted by compliance with certain conditions under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity. Securities held by a money market fund are generally high quality and liquid; however, they are reflected as Level 2 because the inputs used to determine fair value are not quoted prices in an active market. |
|
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly 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. or an affiliate. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® U.S. Government
Reserves Fund
August 31, 2012
1.805753.108
FUS-QTLY-1012
Showing Percentage of Net Assets
|
Treasury Debt - 4.9% |
||||
|
|
|
Yield (a) |
Principal Amount (000s) |
Value (000s) |
|
U.S. Treasury Obligations - 4.9% |
||||
|
U.S. Treasury Bills |
||||
|
|
12/20/12 |
0.15% |
$ 25,000 |
$ 24,989 |
|
U.S. Treasury Notes |
||||
|
|
9/15/12 to 6/15/13 |
0.15 to 0.24 |
97,000 |
97,300 |
|
TOTAL TREASURY DEBT |
|
|||
|
Government Agency Debt - 36.5% |
||||
|
|
||||
|
Federal Agencies - 36.5% |
||||
|
Fannie Mae |
||||
|
|
9/15/12 to 4/9/13 |
0.17 to 0.27 (b) |
95,010 |
95,559 |
|
Federal Farm Credit Bank |
||||
|
|
11/29/12 to 8/20/13 |
0.17 to 0.18 (b) |
16,000 |
16,011 |
|
Federal Home Loan Bank |
||||
|
|
9/7/12 to 5/15/14 |
0.16 to 0.28 (b) |
597,585 |
598,106 |
|
Freddie Mac |
||||
|
|
11/2/12 to 9/13/13 |
0.18 to 0.20 (b) |
209,000 |
209,849 |
|
TOTAL GOVERNMENT AGENCY DEBT |
|
|||
|
Government Agency Repurchase Agreement - 58.6% |
|||
|
Maturity Amount (000s) |
|
||
|
In a joint trading account at 0.21% dated 8/31/12 due 9/4/12 (Collateralized by U.S. Government Obligations) # |
$ 1,303,329 |
1,303,298 |
|
|
With: |
|
|
|
|
Citibank NA at 0.19%, dated 8/28/12 due 9/4/12 (Collateralized by U.S. Government Obligations valued at $12,240,452, 4% - 5.68%, 6/1/25 - 6/1/37) |
12,000 |
12,000 |
|
|
Credit Suisse Securities (USA) LLC at 0.19%, dated 8/31/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $12,242,634, 4.5%, 6/1/42) |
12,000 |
12,000 |
|
|
Goldman Sachs & Co. at 0.19%, dated 8/31/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $15,300,324, 2.79% - 4%, 2/1/42 - 7/1/42) |
15,001 |
15,000 |
|
|
Government Agency Repurchase Agreement - continued |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
With: - continued |
|
|
|
|
ING Financial Markets LLC at: |
|
|
|
|
0.2%, dated 8/10/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $7,208,013, 2.5% - 4%, 12/15/39 - 7/1/42) |
$ 7,001 |
$ 7,000 |
|
|
0.22%, dated: |
|
|
|
|
8/22/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $10,302,346, 2.71% - 4%, 8/25/38 - 6/1/42) |
10,002 |
10,000 |
|
|
8/27/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $11,330,306, 2% - 5.5%, 12/1/39 - 12/15/40) |
11,002 |
11,000 |
|
|
Mitsubishi UFJ Securities (USA), Inc. at: |
|
|
|
|
0.23%, dated: |
|
|
|
|
8/22/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $34,888,578, 4%, 12/1/40) |
34,007 |
34,000 |
|
|
8/27/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $8,175,652, 3.5%, 8/1/42) |
8,002 |
8,000 |
|
|
0.24%, dated: |
|
|
|
|
8/3/12 due 9/4/12 (Collateralized by U.S. Government Obligations valued at $26,537,931, 2.61% - 6%, 4/1/26 - 8/1/42) |
26,006 |
26,000 |
|
|
8/16/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $17,435,052, 3.5% - 4%, 4/1/26 - 7/1/42) |
17,003 |
17,000 |
|
|
RBC Capital Markets Corp. at: |
|
|
|
|
0.19%, dated 8/27/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $4,084,383, 2.26%, 2/1/42) |
4,001 |
4,000 |
|
|
Government Agency Repurchase Agreement - continued |
|||
|
Maturity Amount (000s) |
Value (000s) |
||
|
With: - continued |
|
|
|
|
RBC Capital Markets Corp. at: |
|
|
|
|
0.2%, dated 8/6/12 due 9/6/12 (Collateralized by U.S. Government Obligations valued at $8,175,200, 2.38% - 5.02%, 9/1/16 - 5/1/42) |
$ 8,001 |
$ 8,000 |
|
|
UBS Securities LLC at 0.2%, dated 8/20/12 due 9/7/12 (Collateralized by U.S. Government Obligations valued at $12,299,438, 5%, 12/15/38) |
12,002 |
12,000 |
|
|
TOTAL GOVERNMENT AGENCY REPURCHASE AGREEMENT |
|
||
|
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $2,521,112) |
2,521,112 |
||
|
NET OTHER ASSETS (LIABILITIES) - 0.0% |
1,224 |
||
|
NET ASSETS - 100% |
$ 2,522,336 |
||
|
Legend |
|
(a) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end. |
|
(b) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
|
# Additional information on each counterparty to the repurchase agreement is as follows: |
|
Repurchase Agreement / Counterparty |
Value |
|
$1,303,298,000 due 9/04/12 at 0.21% |
|
|
Bank of America NA |
$ 194,808 |
|
Barclays Capital, Inc. |
374,631 |
|
Deutsche Bank Securities, Inc. |
14,985 |
|
J.P. Morgan Securities, Inc. |
9,740 |
|
Mizuho Securities USA, Inc. |
561,947 |
|
RBC Capital Markets Corp. |
147,187 |
|
|
$ 1,303,298 |
|
Other Information |
|
The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets. |
|
All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs please refer to the Investment Valuation section at the end of this listing. |
|
Income Tax Information |
|
At August 31, 2012, the cost of investment securities for income tax purposes was $2,521,112,000. |
|
Investment Valuation |
|
Security transactions are accounted for as of trade date. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - 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). |
|
As permitted by compliance with certain conditions under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity. Securities held by a money market fund are generally high quality and liquid; however, they are reflected as Level 2 because the inputs used to determine fair value are not quoted prices in an active market. |
|
For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report. |
Quarterly 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. or an affiliate. |
Quarterly Report
Item 2. Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Phillips Street Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.
Item 3. Exhibits
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Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Phillips Street Trust
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By: |
/s/John R. Hebble |
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John R. Hebble |
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President and Treasurer |
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Date: |
October 30, 2012 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By: |
/s/John R. Hebble |
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John R. Hebble |
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President and Treasurer |
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Date: |
October 30, 2012 |
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By: |
/s/Christine Reynolds |
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Christine Reynolds |
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Chief Financial Officer |
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Date: |
October 30, 2012 |
Exhibit EX-99.CERT
I, John R. Hebble, certify that:
1. I have reviewed this report on Form N-Q of Fidelity Phillips Street Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and
d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: October 30, 2012
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/s/John R. Hebble |
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John R. Hebble |
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President and Treasurer |
I, Christine Reynolds, certify that:
1. I have reviewed this report on Form N-Q of Fidelity Phillips Street Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and
d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: October 30, 2012
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/s/Christine Reynolds |
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Christine Reynolds |
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Chief Financial Officer |