Company: CRCL
Filing Date: 2025-04-18
Form Type: S-1/A
Source: 0001193125-25-084832
Chunk: 370

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-18
Form: S-1/A
Chunk 370
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 components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of period end, permanent differences attributable to nondeductible expenses were reclassified to the following accounts:

|                             |     | Amounts |         |   |
|:----------------------------|:----|:--------|--------:|:--|
| Paid-in capital             |     | $       | (85,998 | ) |
| Accumulated earnings (loss) |     |         |  85,998 |   |

The tax character of distributions paid was as follows:

|                 |     | Year Ended 
 04/30/24   |               |     | Period Ended 
 04/30/23     |             |
|:----------------|:----|:-----------|--------------:|:----|:-------------|------------:|
| Ordinary income |     | $          | 1,281,287,248 |     | $            | 521,824,435 |

As of April 30, 2024, the tax components of accumulated earnings were as follows:

| Fund Name           |     | Undistributed 
 Ordinary      
 Income        |           |     | Net Unrealized    
 Gains (Losses)(a) |    |   |     | Total |           |
|:--------------------|:----|:--------------|----------:|:----|:------------------|:---|:--|:----|:------|----------:|
| Circle Reserve Fund |     | $             | 1,375,804 |     | $                 | (1 | ) |     | $     | 1,375,803 |

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

For the Fund, the cost for U.S. federal income tax purposes is the same as book cost. 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 all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global