Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 438

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 438
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 04/30/25   |               |     | Year Ended 
 04/30/24   |               |
|:----------------|:----|:-----------|--------------:|:----|:-----------|--------------:|
| Ordinary income |     | $          | 1,732,445,862 |     | $          | 1,281,287,248 |

As of April 30, 2025, the tax components of accumulated earnings (loss) were as follows:

| Fund Name           |     | Undistributed   
 Ordinary Income |           |     | Net Unrealized    
 Gains (Losses)(a) |        |   |     | Total |           |
|:--------------------|:----|:----------------|----------:|:----|:------------------|:-------|:--|:----|:------|----------:|
| Circle Reserve Fund |     | $               | 2,727,984 |     | $                 | (1,771 | ) |     | $     | 2,726,213 |

| (a) | The difference between book-basis and tax-basis net accumulated losses  
 was attributable primarily to the tax deferral of losses on wash sales. |

As of April 30, 2025, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

| Fund Name           |     | Tax Cost |                |     | Gross Unrealized 
 Appreciation     |   |     | Gross Unrealized 
 Depreciation     |        |   |     | Net Unrealized 
 Appreciation   
 (Depreciation) |        |   |
|:--------------------|:----|:---------|---------------:|:----|:-----------------|:--|:----|:-----------------|:-------|:--|:----|:---------------|:-------|:--|
| Circle Reserve Fund |     | $        | 56,920,682,040 |     | $                | — |     | $                | (1,771 | ) |     | $              | (1,771 | ) |

7. PRINCIPAL RISKS In the normal course of business, the Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including among others, fluctuations in the market (market risk) or failure of an issuer to meet