Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 453

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 453
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 |     | $       | — |     | $     | 29,109,693,195 |

See notes to financial statements. F-99

### STATEMENT OF ASSETS AND LIABILITIESApril 30, 2024Circle Reserve FundASSETSInvestments, at value — unaffiliated(a)$10,377,693,195Cash1,005,142,023Repurchase agreements, at value(b)18,732,000,000Receivables:Interest — unaffiliated2,909,391Prepaid expenses37,854Total assets30,117,782,463LIABILITIESPayables:Administration fees761,390Income dividend distributions127,269,318Investment advisory fees1,198,020Trustees’ and Officer’s fees5,086Other accrued expenses254,558Professional fees72,940Total liabilities129,561,312Commitments and contingent liabilitiesNET ASSETS$29,988,221,151NET ASSETS CONSIST OF:Paid-in capital$29,986,845,348Accumulated earnings1,375,803NET ASSETS$29,988,221,151NET ASSET VALUEInstitutionalNet assets$29,988,221,151Shares outstanding29,987,009,000Net asset value$1.00Shares authorizedUnlimitedPar value$0.001(a)Investments, at cost — unaffiliated$10,377,693,195(b)Repurchase agreements, at cost$18,732,000,000See notes to financial statements.F-100

### STATEMENT OF OPERATIONSYear Ended April 30, 2024Circle Reserve FundINVESTMENT INCOMEInterest — unaffiliated$1,303,541,635Total investment income1,303,541,635EXPENSESInvestment advisory38,616,607Administration7,930,344Administration — class specific4,945,230Registration2,630,601Accounting services378,939Professional265,626Custodian173,132Trustees and Officer161,959Offering85,998Printing and postage23,056Transfer agent — class specific139Miscellaneous46,538Total expenses55,258,169Less:Administration fees waived by the Manager—class specific(4,945,213)Fees waived and/or reimbursed by the Manager(28,059,392)Total expenses after fees waived and/or reimbursed22,253,564Net investment income1,281,288,071REAL