UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-Q/A
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-7852
Exact Name of Registrant as Specified in Charter: USAA MUTUAL FUNDS TRUST
Address of Principal Executive Offices and Zip Code: 9800 FREDERICKSBURG ROAD
SAN ANTONIO, TX 78288
Name and Address of Agent for Service: MARK S. HOWARD
USAA MUTUAL FUNDS TRUST
9800 FREDERICKSBURG ROAD
SAN ANTONIO, TX 78288
Registrant's Telephone Number, Including Area Code: (210) 498-0226
Date of Fiscal Year End: MARCH 31
|
Date of Reporting Period: DECEMBER 31, 2007
ITEM 1. SCHEDULE OF INVESTMENTS.
USAA MUTUAL FUNDS TRUST - 3RD QUARTER REPORT - PERIOD ENDED DECEMBER 31, 2007
Florida Tax-Free Income Fund
[LOGO OF USAA]
USAA(R)
USAA FLORIDA TAX-FREE INCOME Fund
3RD QUARTER Portfolio of Investments
DECEMBER 31, 2007
(Form N-Q)
48468-0208 (copyright)2008, USAA. All right
1
P O R T F O L I O
=======================---------------------------------------------------------
of INVESTMENTS
|
USAA FLORIDA TAX-FREE INCOME FUND
DECEMBER 31, 2007 (UNAUDITED)
CATEGORIES AND DEFINITIONS
FIXED-RATE INSTRUMENTS - consist of municipal bonds, notes, and commercial
paper. The interest rate is constant to maturity. Prior to maturity, the market
price of a fixed-rate instrument generally varies inversely to the movement of
interest rates.
VARIABLE-RATE DEMAND NOTES (VRDNS) - provide the right to sell the security at
face value on either that day or within the rate-reset period. The interest rate
is adjusted at a stipulated daily, weekly, monthly, quarterly, or other
specified time interval to a rate that reflects current market conditions. VRDNs
will normally trade as if the maturity is the earlier put date, even though
stated maturity is longer.
CREDIT ENHANCEMENTS - add the financial strength of the provider of the
enhancement to support the issuer's ability to repay the principal and interest
payments when due. The enhancement may be provided by a high-quality bank,
insurance company or other corporation, or a collateral trust. The enhancements
do not guarantee the market values of the securities.
(INS) Principal and interest payments are insured by one of the following: ACA
Financial Guaranty Corp., AMBAC Assurance Corp., Financial Guaranty
Insurance Co., Financial Security Assurance Holdings Ltd., MBIA
Insurance Corp., or Radian Asset Assurance, Inc.
(LIQ) Liquidity enhancement that may, under certain circumstances, provide for
repayment of principal and interest upon demand from SunTrust Bank.
(NBGA) Principal and interest payments are guaranteed by a nonbank guarantee
agreement from either Florida General Obligation or Texas Permanent
School Fund.
|
PORTFOLIO ABBREVIATIONS AND DESCRIPTIONS
EDA Economic Development Authority
IDA Industrial Development Authority/Agency
ISD Independent School District
PRE Prerefunded to a date prior to maturity
|
2
P O R T F O L I O
=======================---------------------------------------------------------
of INVESTMENTS (in thousands)
|
USAA FLORIDA TAX-FREE INCOME FUND
DECEMBER 31, 2007 (UNAUDITED)
PRINCIPAL COUPON FINAL MARKET
AMOUNT SECURITY RATE MATURITY VALUE
---------------------------------------------------------------------------------------------------
FIXED-RATE INSTRUMENTS (95.9%)
FLORIDA (79.5%)
$ 7,900 Bay County Water Systems (INS) (PRE) 5.70% 9/01/2025 $ 8,495
5,500 Board of Education (NBGA) 5.75 6/01/2022 5,820
6,000 Board of Education (NBGA) (PRE) 5.63 6/01/2025 6,406
2,175 Boca Raton (PRE) 5.38 7/01/2019 2,272
2,290 Boca Raton (PRE) 5.38 7/01/2020 2,392
610 Broward County Educational Facilities
Auth. (INS) 5.75 4/01/2020 630
2,500 Broward County Educational Facilities
Auth. (INS) 5.75 4/01/2021 2,578
645 Broward County Educational Facilities
Auth. (INS) 5.75 4/01/2021 665
995 Broward County Housing Finance Auth. 6.00 5/01/2032 1,009
5,675 Department of Children and Family
Services 5.00 10/01/2025 5,838
2,610 Duval County School Board (INS) 5.38 7/01/2019 2,689
8,000 Escambia County Health Facilities Auth.
(PRE) 6.00 11/15/2031 8,501
5,000 Flagler County School Board (INS) 5.00 8/01/2030 5,112
700 Gulf County School District (INS) 5.75 6/01/2017 707
4,000 Hialeah Gardens Health Care Facilities
Auth. (LOC - SunTrust Bank) 5.00 8/15/2037 3,833
3,500 Highlands County Health Facilities Auth. 5.00 11/15/2031 3,395
5,000 Highlands County Health Facilities Auth. 5.25 11/15/2036 4,985
4,000 Hillsborough County IDA 5.50 10/01/2023 4,062
625 Hillsborough County Water Assessment
(INS) 5.13 3/01/2020 656
5,750 Jacksonville Economic Dev. Commission
Health Care Facilities 5.00 11/15/2036 5,755
2,470 Jacksonville Health Facilities Auth. 5.25 11/15/2032 2,503
4,000 Lake County School Board (INS) 5.00 7/01/2029 4,068
4,400 Miami-Dade County Aviation (INS) 5.75 10/01/2024 4,674
3,000 Miami-Dade County Expressway Auth. (INS)
(PRE) 6.00 7/01/2020 3,231
5,750 Orange County Health Facilities Auth. 6.75 7/01/2020 6,688
8,000 Orange County Health Facilities Auth.
(PRE) 5.75 12/01/2027 8,850
6,255 Orange County Health Facilities 5.13 11/15/2039 6,078
3,000 Orange County School Board (INS) 5.00 8/01/2032 3,058
7,875 Palm Beach County School Board (PRE) 5.88 8/01/2021 8,481
3,000 Palm Beach County School Board (INS) 5.00 8/01/2028 3,051
5,000 Pinellas County Health Facilities Auth.
(PRE) 5.50 11/15/2027 5,526
4,000 Polk County Utility Systems (INS) 5.00 10/01/2030 4,109
4,000 Port St. Lucie Utility System (INS) 4.64 (a) 9/01/2032 1,066
4,000 Port St. Lucie Utility System (INS) 4.65 (a) 9/01/2033 1,010
4,000 Seminole Tribe (b) 5.25 10/01/2027 3,695
5,000 South Miami Health Facilities Auth. 4.63 8/15/2029 4,770
2,000 St. Johns County IDA (INS) (b) 5.50 3/01/2017 2,028
3,400 Sumter County (INS) 5.00 6/01/2036 3,499
2,200 Tampa Housing Auth. 4.85 7/01/2036 2,195
2,250 Univ. of Tampa (INS) 5.50 4/01/2022 2,292
1,500 Univ. of Tampa (INS) 5.50 4/01/2026 1,521
1,790 West Orange Healthcare District 5.50 2/01/2009 1,823
1,000 West Orange Healthcare District 5.65 2/01/2022 1,030
|
3
P O R T F O L I O
=======================---------------------------------------------------------
of INVESTMENTS (in thousands)
(continued)
USAA FLORIDA TAX-FREE INCOME FUND
DECEMBER 31, 2007 (UNAUDITED)
PRINCIPAL COUPON FINAL MARKET
AMOUNT SECURITY RATE MATURITY VALUE
---------------------------------------------------------------------------------------------------
$ 1,165 West Palm Beach Community Redevelopment
Agency 5.00% 3/01/2029 $ 1,097
----------
162,143
----------
ARKANSAS (0.9%)
1,000 Dev. Finance Auth. (INS) 4.97 (a) 7/01/2028 366
1,165 Dev. Finance Auth. (INS) 4.98 (a) 7/01/2029 405
1,150 Dev. Finance Auth. (INS) 4.99 (a) 7/01/2030 380
2,500 Dev. Finance Auth. (INS) 5.03 (a) 7/01/2036 605
----------
1,756
----------
CONNECTICUT (2.3%)
5,000 Mashantucket Western Pequot Tribe (b) 5.75 9/01/2034 4,777
----------
DISTRICT OF COLUMBIA (1.1%)
2,870 Community Academy Public Charter School,
Inc. (INS) 4.88 5/01/2037 2,302
----------
GEORGIA (0.4%)
1,000 Fayette County School District, 4.95%,
9/01/2010 (INS) 4.95 (c) 3/01/2025 904
----------
ILLINOIS (0.9%)
2,000 Village of Montgomery Kane and Kendall
Counties (INS) 4.70 3/01/2030 1,816
----------
MASSACHUSETTS (0.9%)
2,000 Dev. Finance Agency (INS) 5.00 3/01/2036 1,758
----------
MICHIGAN (1.5%)
10,000 Building Auth. (INS) 5.01 (a) 10/15/2030 3,042
----------
MISSISSIPPI (1.4%)
3,000 Hospital Equipment and Facilities Auth. 5.25 12/01/2026 2,963
----------
NORTH DAKOTA (1.7%)
1,685 Williams County 5.00 11/01/2026 1,603
1,950 Williams County 5.00 11/01/2031 1,791
----------
3,394
----------
SOUTH CAROLINA (2.4%)
4,750 Jobs EDA 5.63 11/15/2030 4,832
----------
TENNESSEE (0.8%)
4,155 Knox County Health, Educational and
Housing Facilities Board 5.02 (a) 1/01/2036 905
|
4
P O R T F O L I O
=======================---------------------------------------------------------
of INVESTMENTS (in thousands)
(continued)
USAA FLORIDA TAX-FREE INCOME FUND
DECEMBER 31, 2007 (UNAUDITED)
PRINCIPAL COUPON FINAL MARKET
AMOUNT SECURITY RATE MATURITY VALUE
---------------------------------------------------------------------------------------------------
$ 4,000 Knox County Health, Educational and
Housing Facilities Board 5.03% (a) 1/01/2037 $ 822
----------
1,727
----------
TEXAS (2.1%)
6,000 Denton ISD (NBGA) 5.08 (a) 8/15/2025 2,462
2,000 Tarrant County Cultural Education
Facilities Finance Corp. 5.13 5/15/2037 1,876
----------
4,338
----------
Total Fixed-Rate Instruments (cost: $192,514) 195,752
----------
VARIABLE-RATE DEMAND NOTES (3.6%)
FLORIDA (3.6%)
7,300 Broward County Health Facilities Auth.
(INS)(LIQ) (cost: $7,300) 5.00 9/01/2032 7,300
----------
TOTAL INVESTMENTS (COST: $199,814) $ 203,052
==========
|
5
N O T E S
=======================---------------------------------------------------------
to Portfolio of INVESTMENTS
USAA FLORIDA TAX-FREE INCOME FUND
DECEMBER 31, 2007 (UNAUDITED)
GENERAL NOTES
USAA MUTUAL FUNDS TRUST (the Trust), registered under the Investment Company Act
of 1940 (the 1940 Act), as amended, is a management investment company organized
as a Delaware statutory trust consisting of 39 separate funds. The information
presented in this quarterly report pertains only to the USAA Florida Tax-Free
Income Fund (the Fund), which is classified as diversified under the 1940 Act.
A. SECURITY VALUATION - The value of each security is determined (as of the
close of trading on the New York Stock Exchange (NYSE) on each business day the
exchange is open) as set forth below:
1. Debt securities with maturities greater than 60 days are valued each business
day by a pricing service (the Service) approved by the Trust's Board of
Trustees. The Service uses the mean between quoted bid and asked prices or the
last sales price to price securities when, in the Service's judgment, these
prices are readily available and are representative of the securities' market
values. For many securities, such prices are not readily available. The Service
generally prices these securities based on methods that include consideration of
yields or prices of tax-exempt securities of comparable quality, coupon,
maturity, and type; indications as to values from dealers in securities; and
general market conditions.
2. Short-term securities with original or remaining maturities of 60 days or
less may be valued at amortized cost, which approximates market value.
3. Securities for which market quotations are not readily available or are
considered unreliable, or whose values have been materially affected by events
occurring after the close of their primary markets but before the pricing of the
Fund, are valued in good faith at fair value, using methods determined by USAA
Investment Management Company (the Manager), an affiliate of the Fund, under
valuation procedures approved by the Trust's Board of Trustees. The effect of
fair value pricing is that securities may not be priced on the basis of
quotations from the primary market in which they are traded and the actual price
realized from the sale of a security may differ materially from the fair value
price. Valuing these securities at fair value is intended to cause the Fund's
net asset value (NAV) to be more reliable than it otherwise would be.
Fair value methods used by the Manager include, but are not limited to,
obtaining market quotations from secondary pricing services, broker-dealers, or
widely used quotation systems. General factors considered in determining the
fair value of securities include
6
N O T E S
=======================---------------------------------------------------------
to Portfolio of INVESTMENTS
(continued)
USAA FLORIDA TAX-FREE INCOME FUND
DECEMBER 31, 2007 (UNAUDITED)
fundamental analytical data, the nature and duration of any restrictions on
disposition of the securities, and an evaluation of the forces that influenced
the market in which the securities are purchased and sold.
B. SECURITIES PURCHASED ON A DELAYED-DELIVERY OR WHEN-ISSUED BASIS - Delivery
and payment for securities that have been purchased by the Fund on a
delayed-delivery or when-issued basis can take place a month or more after the
trade date. During the period prior to settlement, these securities do not earn
interest, are subject to market fluctuation, and may increase or decrease in
value prior to their delivery. The Fund maintains segregated assets with a
market value equal to or greater than the amount of its purchase commitments.
The purchase of securities on a delayed-delivery or when-issued basis may
increase the volatility of the Fund's NAV to the extent that the Fund makes such
purchases while remaining substantially fully invested. The Fund had no
delayed-delivery or when-issued commitments as of December 31, 2007.
C. As of December 31, 2007, the cost of securities, for federal income tax
purposes, was approximately the same as that reported in the portfolio of
investments. Gross unrealized appreciation and depreciation of investments as of
December 31, 2007, were $6,940,000 and $3,702,000, respectively, resulting in
net unrealized appreciation of $3,238,000.
D. The portfolio of investments category percentages shown represent the
percentages of the investments to net assets, which were $203,977,000 at
December 31, 2007, and, in total, may not equal 100%. A category percentage of
0.0% represents less than 0.1% of net assets.
SPECIFIC NOTES
(a) Zero-coupon security. Rate represents the effective yield at the date of
purchase.
(b) Restricted security that is not registered under the Securities Act of
1933. A resale of this security in the United States may occur in an
exempt transaction to a qualified institutional buyer as defined by Rule
144A, and as such has been deemed liquid by the Manager under liquidity
guidelines approved by the Trust's Board of Trustees, unless otherwise
noted as illiquid.
(c) Stepped-coupon security that is initially issued in zero-coupon form and
converts to coupon form at the specified date and rate shown in the
security's description. The rate presented in the coupon rate column
represents the effective yield at the date of purchase.
ITEM 2. CONTROLS AND PROCEDURES
The principal executive officer and principal financial officer of USAA Mutual
Funds Trust (Trust) have concluded that the Trust's disclosure controls and
procedures are sufficient to ensure that information required to be disclosed by
the Trust in this Form N-Q was recorded, processed, summarized and reported
within the time periods specified in the Securities and Exchange Commission's
rules and forms, based upon such officers' evaluation of these controls and
procedures as of a date within 90 days of the filing date of the report.
There were no significant changes or corrective actions with regard to
significant deficiencies or material weaknesses in the Trust's internal controls
or in other factors that could significantly affect the Trust's internal
controls subsequent to the date of their evaluation.
ITEM 3. EXHIBITS.
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940
(17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: USAA MUTUAL FUNDS TRUST - Period Ended December 31, 2007
By:* /s/ MARK S. HOWARD
-----------------------------------------------------------
Signature and Title: Mark S. Howard, Secretary
Date: APRIL 18, 2008
------------------------------
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By:* /s/ CHRISTOPHER W. CLAUS
-----------------------------------------------------
Signature and Title: Christopher W. Claus, President
Date: APRIL 23, 2008
------------------------------
By:* /s/ ROBERT GALINDO, JR.
----------------------------------------------------
Signature and Title: Robert Galindo, Jr., Treasurer
Date: APRIL 21, 2008
------------------------------
|
*PRINT THE NAME AND TITLE OF EACH SIGNING OFFICER UNDER HIS OR HER SIGNATURE.
Usaa Treasury Money Market Trust (NASDAQ:UATXX)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Usaa Treasury Money Market Trust (NASDAQ:UATXX)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
