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Fidelity Phillips Street Trust – ‘NSAR-B’ for 11/30/02

On:  Wednesday, 1/29/03, at 2:36pm ET   ·   Effective:  1/29/03   ·   For:  11/30/02   ·   Accession #:  878467-3-5   ·   File #:  811-02890

Previous ‘NSAR-B’:  ‘NSAR-B’ on 1/25/02 for 11/30/01   ·   Next:  ‘NSAR-B’ on 1/29/04 for 11/30/03   ·   Latest:  ‘NSAR-B’ on 1/25/18 for 11/30/17

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

 1/29/03  Fidelity Phillips Street Trust    NSAR-B     11/30/02    5:159K                                   Empire Fidelity Invs … A

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

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-B      Answer File                                           23     96K 
 2: EX-99.77B ACCT LTTR  Auditor Opinion                            HTML      7K 
 3: EX-99.77C VOTES  Voting Matters                                 HTML     28K 
 4: EX-99.77Q1 OTHR EXHB  Amended Trust                             HTML     99K 
 5: EX-99.77Q3 CERT  Certification Letter                           HTML     13K 


‘NSAR-B’   —   Answer File




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


Form N-SAR
 
Annual Report by an Open-End Investment Company
 
Report 
 
      Registrant:   Fidelity Phillips Street TrustList all N-SARs

Annual Report for the 2nd-half period ended at fiscal year end:  11/30/02

Were there any Answer File errors in the Filing?  None Found
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 #:  617-563-1706
 
 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 ReservesS#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:  268

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)?  Yes

EX-99.77B:  Accountant’s Report re: Internal ControlsYes

EX-99.77C:  Matters Submitted to a Vote of Security HoldersYes

EX-99.77Q1: Other DisclosureYes

EX-99.77Q3: Other InfoYes
 
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 SeriesList of 2 Funds/Series Reported Here 

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

Type of custody:  Section 17(f)(1) — Bank
 
15.2Name:         J.P. Morgan Chase & Co.
Role:         Sub-Custodian
Location:     New York, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.3Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     New York, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.4Name:         The Bank of New York
Role:         Sub-Custodian
Location:     London
              United Kingdom

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.5Name:         Citibank N.A.
Role:         Sub-Custodian
Location:     Buenos Aires
              Argentina

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.6Name:         National Australia Bank Ltd.
Role:         Sub-Custodian
Location:     Melbourne
              Australia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.7Name:         Bank Austria AG
Role:         Sub-Custodian
Location:     Vienna
              Austria

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.8Name:         HSBC Bank of the Middle East
Role:         Sub-Custodian
Location:     Manama
              Bahrain

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.9Name:         Standard Chartered Bank plc
Role:         Sub-Custodian
Location:     Dhaka
              Bangladesh

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.10Name:         Banque Bruxelles Lambert
Role:         Sub-Custodian
Location:     Brussels
              Belgium

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.11Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     La Paz
              Bolivia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.12Name:         Bank of Bermuda Ltd. (BBL)
Role:         Sub-Custodian
Location:     Hamilton
              Bermuda

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.13Name:         Barclays Bank of Botswana Ltd.
Role:         Sub-Custodian
Location:     Gaborone
              Botswana

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.14Name:         Bankboston, N.A.
Role:         Sub-Custodian
Location:     Sao Paulo
              Brazil

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.15Name:         ING Bank N.V. (ING)
Role:         Sub-Custodian
Location:     Sofia
              Bulgaria

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.16Name:         Royal Bank of Canada
Role:         Sub-Custodian
Location:     Toronto
              Canada

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.17Name:         Bankboston, N.A.
Role:         Sub-Custodian
Location:     Santiago
              Chile

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.18Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Shanghai
              China

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.19Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Shenzhen
              China

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.20Name:         Cititrust Colombia S.A., Sociedad Fiduciaria
Role:         Sub-Custodian
Location:     Bogota
              Colombia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.21Name:         Banco BCT S.A.
Role:         Sub-Custodian
Location:     San Jose
              Costa Rica

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.22Name:         Privredna Banka Zagreb D.D.
Role:         Sub-Custodian
Location:     Zagreb
              Croatia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.23Name:         Bank of Cyprus
Role:         Sub-Custodian
Location:     Nicosia
              Cyprus

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.24Name:         Ceskoslovenska Obchodnibanka, S.A.
Role:         Sub-Custodian
Location:     Prague
              Czech Republic

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.25Name:         Den Danske Bank
Role:         Sub-Custodian
Location:     Copenhagen
              Denmark

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.26Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     Quito
              Ecuador

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.27Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     Cairo
              Egypt

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.28Name:         Hansabank Ltd.
Role:         Sub-Custodian
Location:     Tallinn
              Estonia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.29Name:         Nordea Bank Finland plc
Role:         Sub-Custodian
Location:     Helsinki
              Finland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.30Name:         BNP Paribas Securities Services, S.A.
Role:         Sub-Custodian
Location:     Paris
              France

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.31Name:         Credit Argricole Indosuez
Role:         Sub-Custodian
Location:     Paris
              France

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.32Name:         Dresdner Bank AG
Role:         Sub-Custodian
Location:     Frankfurt
              Germany

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.33Name:         Barclays Bank of Ghana Ltd.
Role:         Sub-Custodian
Location:     Accra
              Ghana

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.34Name:         BNP Paribas Securities Services, S.A.
Role:         Sub-Custodian
Location:     Athens
              Greece

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.35Name:         The Hongkong & Shanghai Banking Corp. Ltd.
Role:         Sub-Custodian
Location:     Wun Chai
              Hong Kong

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.36Name:         HVB Bank Hungary RT
Role:         Sub-Custodian
Location:     Budapest
              Hungary

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.37Name:         Landsbanki Island
Role:         Sub-Custodian
Location:     Reykjavik
              Iceland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.38Name:         Hongkong & Shanghai Baking Corp. Ltd.
Role:         Sub-Custodian
Location:     Mumbai
              India

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.39Name:         Hongkong & Shanghai Baking Corp. Ltd.
Role:         Sub-Custodian
Location:     Ho Chi Minh City
              Vietnam

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.40Name:         Hongkong & Shanghai Banking Corp. Ltd.
Role:         Sub-Custodian
Location:     Jakarta
              Indonesia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.41Name:         Allied Irish Banks plc
Role:         Sub-Custodian
Location:     Dublin
              Ireland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.42Name:         Bank Leumi Le-Israel, B.M.
Role:         Sub-Custodian
Location:     Tel Aviv
              Israel

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.43Name:         Intesa Bci SpA
Role:         Sub-Custodian
Location:     Milan
              Italy

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.44Name:         BNP Paribas Securities Services S.A.
Role:         Sub-Custodian
Location:     Milan
              Italy

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.45Name:         Societe Generale De Banques En Cote D’Ivoire
Role:         Sub-Custodian
Location:     Abidjan
              Ivory Coast

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.46Name:         Cibc Trust & Merchant Bank Jamaica Ltd.
Role:         Sub-Custodian
Location:     Kingston
              Jamaica

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.47Name:         Mizuho Corporate Bank, Ltd.
Role:         Sub-Custodian
Location:     Tokyo
              Japan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.48Name:         Bank of Tokyo-Mitsubishi, Ltd.
Role:         Sub-Custodian
Location:     Tokyo
              Japan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.49Name:         HSBC Bank of the Middle East
Role:         Sub-Custodian
Location:     Amman
              Jordan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.50Name:         Abn Amro Bank Kazakhstan
Role:         Sub-Custodian
Location:     Almaty
              Kazakhstan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.51Name:         Barclays Bank of Kenya Ltd.
Role:         Sub-Custodian
Location:     Nairobi
              Kenya

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.52Name:         A/S Hansabanka
Role:         Sub-Custodian
Location:     Riga
              Latvia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.53Name:         HSBC Bank Middle East
Role:         Sub-Custodian
Location:     Beirut
              Lebanon

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.54Name:         Vilniaus Bankas AB
Role:         Sub-Custodian
Location:     Vilniaus
              Lithuania

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.55Name:         Banque Et Caisse D’Epargne De L’Etat Luxembou
Role:         Sub-Custodian
Location:     Luxembourg
              Luxembourg

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.56Name:         HSBC Bank Malaysia Berhad
Role:         Sub-Custodian
Location:     Kuala Lumpur
              Malaysia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.57Name:         HSBC Bank Malta plc
Role:         Sub-Custodian
Location:     Valletta
              Malta

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.58Name:         Hongkong & Shanghai Banking Corp., Ltd.
Role:         Sub-Custodian
Location:     Port Louis
              Mauritius

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.59Name:         Banco Nacional de Mexico S.A.
Role:         Sub-Custodian
Location:     Mexico City
              Mexico

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.60Name:         Banque Commerciale Du Maroc
Role:         Sub-Custodian
Location:     Casablanca
              Morocco

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.61Name:         Standard Bank Namibia Ltd.
Role:         Sub-Custodian
Location:     Windhoek
              Namibia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.62Name:         Fortis Bank (Nederland) N.V.
Role:         Sub-Custodian
Location:     Amsterdam
              Netherlands

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.63Name:         National Nominees Ltd.
Role:         Sub-Custodian
Location:     Auckland
              New Zealand

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.64Name:         Stanbic Bank Nigeria Ltd.
Role:         Sub-Custodian
Location:     Lago
              Nigeria

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.65Name:         Den Norske Bank
Role:         Sub-Custodian
Location:     Oslo
              Norway

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.66Name:         HSBC Bank of the Middle East
Role:         Sub-Custodian
Location:     Muscat
              Oman

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.67Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Karachi
              Pakistan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.68Name:         Bankboston, N.A.
Role:         Sub-Custodian
Location:     Panama City
              Panama

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.69Name:         HSBC Bank Middle East
Role:         Sub-Custodian
Location:     Ramallah
              Palestine

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.70Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     Lima
              Peru

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.71Name:         Hongkong & Shanghai Banking Corp. Ltd.
Role:         Sub-Custodian
Location:     Manila
              Philippines

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.72Name:         Bank Handlowy W. Warzawie, S.A.
Role:         Sub-Custodian
Location:     Warsaw
              Poland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.73Name:         Banco Comercial Portugues, S.A.
Role:         Sub-Custodian
Location:     Lisbon
              Portugal

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.74Name:         HSBC Bank Middle East
Role:         Sub-Custodian
Location:     Doha
              Qatar

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.75Name:         ING Bank N.V.
Role:         Sub-Custodian
Location:     Bucharest
              Romania

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.76Name:         Vneshtorgbank
Role:         Sub-Custodian
Location:     Moscow
              Russia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.77Name:         Credit Suisse First Boston
Role:         Sub-Custodian
Location:     Moscow
              Russia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.78Name:         Clearstream Banking
Role:         Sub-Custodian
Location:     Luxembourg
              Luxembourg

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.79Name:         United Overseas Bank Ltd.
Role:         Sub-Custodian
Location:     Singapore
              Singapore

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.80Name:         Euroclear Bank
Role:         Sub-Custodian
Location:     Brussels
              Belgium

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.81Name:         Ceskoslovenska Obchodni Banka, A.S. Popocka Z
Role:         Sub-Custodian
Location:     Bratislava
              Slovak Republic

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.82Name:         Bank Austria Creditanstalt D.D.
Role:         Sub-Custodian
Location:     Ljubljana
              Slovenia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.83Name:         Standard Corporate & Merchant Bank
Role:         Sub-Custodian
Location:     Johannesburg
              South Africa

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.84Name:         Bankboston, N.A.
Role:         Sub-Custodian
Location:     Montevideo
              Uruguay

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.85Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Seoul
              South Korea

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.86Name:         Banco Santander Central Hispano, S.A.
Role:         Sub-Custodian
Location:     Madrid
              Spain

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.87Name:         Banco Bilbao Vizcaya Argentaria, S.A.
Role:         Sub-Custodian
Location:     Madrid
              Spain

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.88Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Colombo
              Sri Lanka

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.89Name:         Standard Bank Swaziland Ltd.
Role:         Sub-Custodian
Location:     Mbabane
              Swaziland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.90Name:         Skandinaviska Enskilda Banken
Role:         Sub-Custodian
Location:     Stockholm
              Sweden

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.91Name:         Credit Suisse First Boston
Role:         Sub-Custodian
Location:     Zurich
              Switzerland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.92Name:         Hongkong & Shanghai Banking Corp. Ltd.
Role:         Sub-Custodian
Location:     Taipei
              Taiwan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.93Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Bangkok
              Thailand

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.94Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     Caracas
              Venezuela

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.95Name:         Republic Bank Ltd.
Role:         Sub-Custodian
Location:     Port of Spain
              Trinidad & Tobago

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.96Name:         Banque International Arabe De Tunisie
Role:         Sub-Custodian
Location:     Tunis
              Tunisia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.97Name:         Garanti Bank
Role:         Sub-Custodian
Location:     Istanbul
              Turkey

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.98Name:         ING Bank Ukraine
Role:         Sub-Custodian
Location:     Kiev
              Ukraine

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.99Name:         HSBC Bank Middle East
Role:         Sub-Custodian
Location:     Dubai
              United Arab Emirates

Type of custody:  Rule 17f-5 — Foreign Custodian
 
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:
 
22.1Entity:       Bank of America
IRS #:        56-2058405
Registrant’s purchases ($000s)165,240,335
 
22.2Entity:       JP Morgan Securities, Inc.
IRS #:        13-3224016
Registrant’s purchases ($000s)135,856,103
Registrant’s sales ($000s)454,036
 
22.3Entity:       Morgan Stanley Dean Witter & Co.
IRS #:        13-2655993
Registrant’s purchases ($000s)71,973,371
Registrant’s sales ($000s)5,204,375
 
22.4Entity:       Goldman Sachs & Co.
IRS #:        13-5108880
Registrant’s purchases ($000s)72,063,369
Registrant’s sales ($000s)1,703,581
 
22.5Entity:       Deutsche Bank
IRS #:        13-2730828
Registrant’s purchases ($000s)51,871,364
Registrant’s sales ($000s)2,809,307
 
22.6Entity:       Salomon Smith Barney, Inc.
IRS #:        11-2418191
Registrant’s purchases ($000s)52,131,279
Registrant’s sales ($000s)529,359
 
22.7Entity:       Lehman Brothers, Inc.
IRS #:        13-2518466
Registrant’s purchases ($000s)39,000,569
Registrant’s sales ($000s)696,428
 
22.8Entity:       Merrill Lynch, Pierce, Fenner & Smith
IRS #:        13-5674085
Registrant’s purchases ($000s)32,070,266
Registrant’s sales ($000s)1,930,927
 
22.9Entity:       CS First Boston Corp.
IRS #:        13-5659485
Registrant’s purchases ($000s)24,084,802
Registrant’s sales ($000s)2,358,112
 
22.10Entity:       Abbey National Securities, Inc.
Registrant’s purchases ($000s)24,911,000
 
23.Total purchase/sale transactions by the Registrant during the period:
   Aggregate purchases ($000s)910,646,931
   Aggregate sales ($000s)22,715,977
 
 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 ...............................  No
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 ..................................................  No
Other ..................................................................  No
 
 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
 
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 ........................................  Yes
Determination of offering and redemption prices ........................  No
Trading department .....................................................  Yes
Prospectus preparation and printing for current shareholders ...........  Yes
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: 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)270,000
 
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):  266
 
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 1Information 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):
 
25.1Name:         Deutsche Bank, A.G.
IRS #:        13-2730828
Type of security owned:  Debt
Value of securities owned at period end ($000s)2,165
 
25.2Name:         Abbey National Treasury Services plc
Type of security owned:  Debt
Value of securities owned at period end ($000s)715
 
25.3Name:         Credit Suisse First Boston
IRS #:        13-5659485
Type of security owned:  Debt
Value of securities owned at period end ($000s)335
 
25.4Name:         Citicorp
Type of security owned:  Debt
Value of securities owned at period end ($000s)364
 
25.5Name:         Goldman Sachs & Co.
IRS #:        13-5108880
Type of security owned:  Debt
Value of securities owned at period end ($000s)1,184
 
25.6Name:         Morgan Stanley Dean Witter & Co.
IRS #:        13-2655998
Type of security owned:  Debt
Value of securities owned at period end ($000s)100
 
25.7Name:         Salomon Smith Barney Holdings, Inc.
IRS #:        11-2418191
Type of security owned:  Debt
Value of securities owned at period end ($000s)279
 
 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) ............................
8,257,406
      Reinvestment of dividends and distributions ................ 72,028
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 7,531,523
2nd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
12,101,407
      Reinvestment of dividends and distributions ................ 74,825
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 9,753,603
3rd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
7,887,135
      Reinvestment of dividends and distributions ................ 73,253
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 9,250,744
4th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
7,118,868
      Reinvestment of dividends and distributions ................ 69,904
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,913,886
5th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
9,174,816
      Reinvestment of dividends and distributions ................ 72,395
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 8,667,126
6th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
7,287,328
      Reinvestment of dividends and distributions ................ 63,321
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 7,711,647

Total of all months:  ($000s)
    Total NAV of shares sold:
      New sales (including exchanges) ............................
51,826,960
      Reinvestment of dividends and distributions ................ 425,726
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 49,828,529

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: Advisory Fee 
 
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?  No
 
 S 1: 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
 
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 ...............................      2.2%
U.S. Government Agency ......................      8.4
Repurchase agreements .......................    11.8
State and Municipal – tax-free ..............      0.0
Bank certificates of deposit – domestic .....      1.9
Bank certificates of deposit – foreign ......    42.1
Bankers acceptances .........................      0.0
Commercial paper – taxable ..................    23.3
Time deposits ...............................      0.0
Options .....................................      0.0
All other ...................................    10.3

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:     57
    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?  Yes

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      No
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:  12

Income  ($000s)
Net interest income ..............................................
1,158,267
Net dividend income ..............................................
Account maintenance fees .........................................
Net other income .................................................

Expenses  ($000s)
Advisory fees ....................................................
112,259
Administrator fees ...............................................
Salaries and other compensation ..................................
Shareholder Servicing Agent fees ................................. 101,800
Custodian fees ................................................... 809
Postage ..........................................................
Printing expenses ................................................
Directors’ fees .................................................. 184
Registration fees ................................................ 864
Taxes ............................................................
Interest .........................................................
Bookkeeping fees paid to anyone performing this service .......... 1,359
Auditing fees .................................................... 199
Legal fees ....................................................... 219
Marketing/distribution payments, incl. Rule 12b-1 plan payments ..
Amortization of organization expenses ............................
Shareholder meeting expenses .....................................
Other expenses ................................................... 952
Total expenses ................................................... 218,645

Expense reimbursements ($000s):   0

Net investment income ($000s):    939,622

Realized capital gains ($000s):   2
Realized capital losses ($000s)0

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)939,622

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:    $0.0170

Distribution of capital gains:  $0.0000
Other distributions:            $0.0000
 
 S 1: Financial Info — Condensed Balance Sheet Data 
 
74.Assets  ($000s)
Cash ............................................................. 638
Repurchase agreements ............................................ 6,739,545
Short-term debt securities, other than repurchase agreements ..... 50,296,470
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 ................................................ 450,223
All other assets .................................................
Total assets ..................................................... 57,486,876

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
Amounts owed to affiliated persons ............................... 9,639
Senior long-term debt ............................................
Other liabilities:
  Reverse repurchase agreements ..................................
  Short sales ....................................................
  Written options ................................................
  All other liabilities .......................................... 427,195

Equity  ($000s)
Senior equity ....................................................
Net assets of common shareholders ................................ 57,050,042

Number of shares outstanding (000s):   57,047,497

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

Total number of shareholder accounts:  3,115,740

Total value of assets in segregated accounts ($000s)0
 
75.Daily average net assets during the period ($000s)56,189,277
 
 Series 2Information Common to All Funds/Series  List of 2 Funds/Series 
 
 7.Name:         Fidelity U.S. Government ReservesS#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) ............................
326,063
      Reinvestment of dividends and distributions ................ 3,380
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 195,178
2nd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
345,753
      Reinvestment of dividends and distributions ................ 3,512
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 261,208
3rd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
183,737
      Reinvestment of dividends and distributions ................ 3,463
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 232,337
4th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
186,027
      Reinvestment of dividends and distributions ................ 3,292
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 203,271
5th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
194,628
      Reinvestment of dividends and distributions ................ 3,343
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 204,783
6th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
127,269
      Reinvestment of dividends and distributions ................ 2,737
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 183,953

Total of all months:  ($000s)
    Total NAV of shares sold:
      New sales (including exchanges) ............................
1,363,477
      Reinvestment of dividends and distributions ................ 19,727
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,280,730

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: Advisory Fee 
 
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
 
 S 2: 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
 
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 ......................    71.7
Repurchase agreements .......................    30.1
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

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:     76
    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?  Yes

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:  12

Income  ($000s)
Net interest income ..............................................
53,014
Net dividend income ..............................................
Account maintenance fees .........................................
Net other income .................................................

Expenses  ($000s)
Advisory fees ....................................................
5,215
Administrator fees ...............................................
Salaries and other compensation ..................................
Shareholder Servicing Agent fees ................................. 3,258
Custodian fees ................................................... 29
Postage ..........................................................
Printing expenses ................................................
Directors’ fees .................................................. 9
Registration fees ................................................ 25
Taxes ............................................................
Interest .........................................................
Bookkeeping fees paid to anyone performing this service .......... 251
Auditing fees .................................................... 30
Legal fees ....................................................... 10
Marketing/distribution payments, incl. Rule 12b-1 plan payments ..
Amortization of organization expenses ............................
Shareholder meeting expenses .....................................
Other expenses ................................................... 114
Total expenses ................................................... 8,941

Expense reimbursements ($000s):   27

Net investment income ($000s):    44,100

Realized capital gains ($000s):   0
Realized capital losses ($000s)18

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)44,100

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:    $0.0170

Distribution of capital gains:  $0.0000
Other distributions:            $0.0000
 
 S 2: Financial Info — Condensed Balance Sheet Data 
 
74.Assets  ($000s)
Cash ............................................................. 44
Repurchase agreements ............................................ 769,738
Short-term debt securities, other than repurchase agreements ..... 1,836,983
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 ................................................ 4,779
All other assets .................................................
Total assets ..................................................... 2,611,544

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
49,850
Amounts owed to affiliated persons ............................... 436
Senior long-term debt ............................................
Other liabilities:
  Reverse repurchase agreements ..................................
  Short sales ....................................................
  Written options ................................................
  All other liabilities .......................................... 1,241

Equity  ($000s)
Senior equity ....................................................
Net assets of common shareholders ................................ 2,560,017

Number of shares outstanding (000s):   2,560,000

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

Total number of shareholder accounts:  89,104

Total value of assets in segregated accounts ($000s)0
 
75.Daily average net assets during the period ($000s)2,608,780
 
 Signature  Top of Form N-SAR 
                                                                                    
/s/      John H. Costello      
Name:   John H. Costello
Title:  Assistant Treasurer

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