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Fidelity Phillips Street Trust – ‘NSAR-A’ for 5/31/02

On: Friday, 7/26/02, at 9:41am ET · For: 5/31/02 · Accession #: 225323-2-24 · File #: 811-02890

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/26/02  Fidelity Phillips Street Trust    NSAR-A      5/31/02    1:12K                                    Fidelity Court Street Tr

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-A      Semi-Annual Report by an Investment Company           13     53K

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Semi-Annual Report by an Open-End Investment Company

Report
Registrant: Fidelity Phillips Street Trust — List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended: 5/31/02

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? No
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 278001
SEC File #: 811-02890

Telephone #: 603-791-7578
2. Address: 82 Devonshire Street
Boston, MA 02109
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 2
The number of separate Funds/Series (portfolios) reported here: 2...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 1: Fidelity Cash Reserves [ now
Fidelity Government Cash Reserves ] — S#7149
↓ Series 2: Fidelity U.S. Government Reserves — S#7150
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 263

The Identification Code of the family for Form N-SAR Filings: FIDELITYZZ
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? No
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 2 Funds/Series Reported Here

Information Common to All Funds/Series
All: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Investments Money Management, Inc.
Role: Sub-Adviser
SEC File #: 801-34590
Location: Merrimack, NH
All: Principal Underwriter
11.1 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
Location: Boston, MA
All: Shareholder Servicing/Transfer Agent
12.1 Name: Fidelity Service Co., Inc.
SEC File #: 084-05679
Location: Boston, MA
All: Independent Public Accountant
13.1 Name: Pricewaterhousecoopers LLP
Location: Boston, MA
All: Affiliated Broker/Dealer
14.1 Name: Fidelity Brokerage Services LLC
SEC File #: 008-23292
14.2 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
14.3 Name: Fidelity Brokerage Services
14.4 Name: National Financial Services LLC
SEC File #: 008-26740
14.5 Name: Fidelity Investments Canada Ltd.
14.6 Name: Fidelity Securities Ltd.
14.7 Name: FMR U.K. Holdings Ltd.
14.8 Name: Fidelity Brokerage Services Japan LLC
14.9 Name: Redibook Ecn LLC
SEC File #: 008-52140
14.10 Name: Archipelago Ecn
SEC File #: 008-50376
All: Custodian
15.1 Name: The Bank of New York
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.2 Name: JP Morgan Chase Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: Morgan (JP) Securities
IRS #: 13-3224016
Registrant’s purchases ($000s): 49,801,730
Registrant’s sales ($000s): 429,249
22.2 Entity: Banc of America
IRS #: 56-2058405
Registrant’s purchases ($000s): 31,256,710
22.3 Entity: Goldman Sachs & Co.
IRS #: 13-5108880
Registrant’s purchases ($000s): 24,554,699
Registrant’s sales ($000s): 1,164,594
22.4 Entity: Morgan Stanley Dean Witter & Co.
IRS #: 13-2655998
Registrant’s purchases ($000s): 15,953,666
Registrant’s sales ($000s): 3,516,802
22.5 Entity: Merrill Lynch, Pierce, Fenner & Smith
IRS #: 13-5674085
Registrant’s purchases ($000s): 13,208,016
Registrant’s sales ($000s): 1,881,370
22.6 Entity: Deutsche Bank, A.G.
IRS #: 13-2730828
Registrant’s purchases ($000s): 12,495,441
Registrant’s sales ($000s): 885,085
22.7 Entity: Lehman Brothers, Inc.
IRS #: 13-2518466
Registrant’s purchases ($000s): 9,708,446
Registrant’s sales ($000s): 621,880
22.8 Entity: CS First Boston Corp.
IRS #: 13-5659485
Registrant’s purchases ($000s): 4,983,156
Registrant’s sales ($000s): 1,384,165
22.9 Entity: UBS Warburg LLC
Registrant’s purchases ($000s): 4,337,584
Registrant’s sales ($000s): 1,491,683
22.10 Entity: Ge Capital Corp.
Registrant’s purchases ($000s): 5,500,863
Registrant’s sales ($000s): 206,977
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 261,449,108
Aggregate sales ($000s): 13,645,941
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... Yes
Receipt of investment research and statistical info .................... Yes
Receipt of quotations for portfolio valuations ......................... No
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ No
Broker or Dealer which is an affiliated person ......................... Yes
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... No
To the Registrant .................................................. Yes
Other .................................................................. Yes
All: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
All: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? No
All: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
All: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
All: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $2,500
All: Fidelity Bond in Effect at Fiscal Year End
80. Insurer: American Int’L Specialty Lines Ins. Co.
2nd Insurer: Federal Insurance Co.

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s): 220,000
81. Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities? Yes

How many other investment companies or other entities are covered by the
bond (counting each Fund/Series as a separate investment company): 261
82. Does the mandatory coverage of the fidelity bond have a deductible? Yes

The amount of the deductible ($000s): 400
83. Were any claims with respect to this Registrant/Series filed under the
bond during the period? No
84. Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not? No
85. Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else? Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series? No
Series 1 ↑Information Common to All Funds/Series ↑List of 2 Funds/Series
7. Name: Fidelity Cash Reserves [ now
Fidelity Government Cash Reserves ] — S#7149

Is this the final Form N-SAR filed for this Fund/Series? No
S 1: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Deutsche Bank, A.G.
IRS #: 13-2730828
Type of security owned: Debt
Value of securities owned at period end ($000s): 2,740
25.2 Name: Morgan (J.P) Securities
IRS #: 13-3224016
Type of security owned: Debt
Value of securities owned at period end ($000s): 623
25.3 Name: Goldman Sachs & Co.
IRS #: 13-5108880
Type of security owned: Debt
Value of securities owned at period end ($000s): 530
25.4 Name: Morgan Stanley Dean Witter & Co.
IRS #: 13-2655998
Type of security owned: Debt
Value of securities owned at period end ($000s): 100
S 1: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,067,576
Reinvestment of dividends and distributions ................ 96,337
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 9,743,720
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,900,405
Reinvestment of dividends and distributions ................ 91,107
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 10,037,797
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,166,834
Reinvestment of dividends and distributions ................ 77,523
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 7,998,869
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,508,925
Reinvestment of dividends and distributions ................ 83,052
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 10,342,350
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,919,602
Reinvestment of dividends and distributions ................ 77,775
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 10,336,104
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,703,140
Reinvestment of dividends and distributions ................ 76,955
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 9,190,818

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 55,266,482
Reinvestment of dividends and distributions ................ 502,749
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 57,649,658

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 1: Payment Plan for the Distribution of Fund Shares
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... –
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 0
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 1: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.4%
U.S. Government Agency ...................... 7.9
Repurchase agreements ....................... 5.6
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 1.0
Bank certificates of deposit – foreign ...... 55.5
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 19.8
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 9.5

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 0.0
All other ................................... 0.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 66
Years: 0.0
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? No

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 1: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? No –
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? Yes No
S 1: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 0
Sales ($000s): 0

Monthly average Value of portfolio ($000s): 0

Percent turnover (lesser of Purchases or Sales, divided by Value): 0%
S 1: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 612,946
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 55,142
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 47,815
Custodian fees ................................................... 402
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 107
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 676
Auditing fees .................................................... 105
Legal fees ....................................................... 103
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. –
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... –
Total expenses ................................................... 104,350

Expense reimbursements ($000s): 1

Net investment income ($000s): 508,597

Realized capital gains ($000s): 0
Realized capital losses ($000s): 25

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 508,597

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0090

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 1: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 2
Repurchase agreements ............................................ 3,079,672
Short-term debt securities, other than repurchase agreements ..... 51,385,395
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. –
Other receivables ................................................ 508,700
All other assets ................................................. –
Total assets ..................................................... 54,973,769

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... –
Amounts owed to affiliated persons ............................... 9,062
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 340,908

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 54,623,799

Number of shares outstanding (000s): 54,623,340

Net Asset Value (NAV) per share (to nearest cent): $1.00
Mark-to-market NAV per share: $1.0000

Total number of shareholder accounts: 3,018,031

Total value of assets in segregated accounts ($000s): 0
75. Daily average net assets during the period ($000s): 55,631,513
Series 2 ↑Information Common to All Funds/Series ↑List of 2 Funds/Series
7. Name: Fidelity U.S. Government Reserves — S#7150

Is this the final Form N-SAR filed for this Fund/Series? No
S 2: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 2: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 359,851
Reinvestment of dividends and distributions ................ 4,406
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 234,990
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 618,635
Reinvestment of dividends and distributions ................ 4,552
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 270,251
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 226,271
Reinvestment of dividends and distributions ................ 3,874
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 288,388
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 126,073
Reinvestment of dividends and distributions ................ 3,893
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 307,028
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 126,552
Reinvestment of dividends and distributions ................ 3,539
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 242,792
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 153,737
Reinvestment of dividends and distributions ................ 3,515
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 188,912

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,611,119
Reinvestment of dividends and distributions ................ 23,779
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,532,361

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 2: Payment Plan for the Distribution of Fund Shares
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... –
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 0
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 2: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 80.4
Repurchase agreements ....................... 19.7
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 2: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes No
Currency exchange transactions? No –
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? Yes No
S 2: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 0
Sales ($000s): 0

Monthly average Value of portfolio ($000s): 0

Percent turnover (lesser of Purchases or Sales, divided by Value): 0%
S 2: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 28,482
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 2,586
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 1,584
Custodian fees ................................................... 15
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 4
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 132
Auditing fees .................................................... 14
Legal fees ....................................................... 5
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. –
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 5
Total expenses ................................................... 4,345

Expense reimbursements ($000s): 10

Net investment income ($000s): 24,147

Realized capital gains ($000s): 0
Realized capital losses ($000s): 20

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 24,147

Dividends from net investment income: $0.0090

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 2: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ 484,121
Short-term debt securities, other than repurchase agreements ..... 1,975,121
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. –
Other receivables ................................................ 8,490
All other assets ................................................. –
Total assets ..................................................... 2,467,732

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... –
Amounts owed to affiliated persons ............................... 411
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 9,780

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 2,457,541

Number of shares outstanding (000s): 2,457,526

Net Asset Value (NAV) per share (to nearest cent): $1.00
Mark-to-market NAV per share: $1.0000

Total number of shareholder accounts: 83,278

Total value of assets in segregated accounts ($000s): 0
75. Daily average net assets during the period ($000s): 2,605,485
Signature ↑Top of Form N-SAR
/s/ John H. Costello
Name: John H. Costello
Title: Assistant Treasurer

↑Top

Filing Submission 0000225323-02-000024 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Fidelity Phillips Street Trust – ‘NSAR-A’ for 5/31/02

On: Friday, 7/26/02, at 9:41am ET · For: 5/31/02 · Accession #: 225323-2-24 · File #: 811-02890

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Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents