# EDGAR Filing Document

**Accession Number:** 0001890141
**File Stem:** 0000894189-25-013329
**Filing Date:** 2025-11
**Character Count:** 70895
**Document Hash:** db8080e4dba6a67844378b41eb3e70d0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-013329.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0000894189-25-013329

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First American Funds Trust
- **CENTRAL INDEX KEY:** 0001890141

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23751
- **FILM NUMBER:** 251462311

**BUSINESS ADDRESS:**
- **BUSINESS PHONE:** 6123037987

**MAIL ADDRESS:**
- **STREET 1:** 800 NICOLETT MALL
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

## Series and Classes Contracts Data

### Retail Tax Free Obligations Fund (Series ID: S000074978)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000233551 | Class T      | FTJXX           |
| C000233552 | Class V      | FHIXX           |
| C000233553 | Class Y      | FFCXX           |
| C000233554 | Class Z      | FTZXX           |
| C000233555 | Class A      | FTAXX           |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0001890141

### General Information

**Report for (YYYY-MM-DD):** 2025-10-31

**Registrant Full Name:** First American Funds Trust

**CIK Number of Registrant:** 0001890141

**LEI of Registrant:** 25490017KPKDZG189N19

**Name of Series:** Retail Tax Free Obligations Fund

**LEI of Series:** 254900R8F8Y6ZLPEDJ84

**EDGAR Series Identifier:** S000074978

**Total number of share classes in the series:** 5

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                              | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | U.S. Bancorp Asset Management, Inc.                  | 801-60125         |
| Independent Public Accountant | Ernst & Young, LLP<br>City: Minneapolis<br>State: MN |  |
| Administrator                 | U.S. Bancorp Asset Management, Inc.                  |  |
| Transfer Agent                | U.S. Bancorp Fund Services, LLC<br>CIK: 0001094770   | 085-11357         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 333-260527

- **Is this a Feeder Fund?:** No

- **Is this a Master Fund?:** No

- **Is this series for insurance company separate accounts?:** No

- **Money Market Fund Category:** Other Tax Exempt

- **Is this a Retail Money Market Fund?:** Yes

- **WAM:** 40 days

- **WAL:** 40 days

- **Total Value of Portfolio Securities:** $351383605.23

- **Amortized Cost of Portfolio Securities:** $351403841.88

- **Cash:** $9376.95

- **Total Other Assets:** $2157450.30

- **Total Liabilities:** $837139.49

- **Net Assets of Series:** $352713292.99

- **Number of Shares Outstanding (Series):** 352708910.3700

- **Does the fund seek to maintain a stable price per share?:** Yes

- **Stable Price Per Share:** $1.00

- **Is cash management vehicle an affiliated fund?:** No

- **Does the fund apply liquidity fees?:** No

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-10-01 | $18528737.07              | $266033737.07              | 4.7000%                   | 67.0000%                   |
| 2025-10-02 | $21543722.63              | $270788722.63              | 5.4000%                   | 67.4000%                   |
| 2025-10-03 | $20659245.68              | $273809401.45              | 5.2000%                   | 68.3000%                   |
| 2025-10-06 | $20166856.89              | $273316973.72              | 5.0000%                   | 68.2000%                   |
| 2025-10-07 | $18752866.34              | $285180107.23              | 4.8000%                   | 72.4000%                   |
| 2025-10-08 | $18824005.86              | $285251184.51              | 4.8000%                   | 72.4000%                   |
| 2025-10-09 | $20172778.56              | $282694894.99              | 5.2000%                   | 73.0000%                   |
| 2025-10-10 | $19915470.52              | $282437517.09              | 5.1000%                   | 73.0000%                   |
| 2025-10-14 | $31565920.07              | $280810920.07              | 8.2000%                   | 72.8000%                   |
| 2025-10-15 | $19196492.97              | $268441492.97              | 5.0000%                   | 69.7000%                   |
| 2025-10-16 | $16437058.61              | $265682058.61              | 4.3000%                   | 69.5000%                   |
| 2025-10-17 | $15570376.82              | $264815376.82              | 4.1000%                   | 69.4000%                   |
| 2025-10-20 | $17888832.77              | $262398832.77              | 4.8000%                   | 70.2000%                   |
| 2025-10-21 | $17891589.96              | $261576589.96              | 4.8000%                   | 70.1000%                   |
| 2025-10-22 | $17890880.49              | $257855880.49              | 4.8000%                   | 69.8000%                   |
| 2025-10-23 | $17889702.72              | $265999702.72              | 4.9000%                   | 72.3000%                   |
| 2025-10-24 | $21060233.16              | $265615233.16              | 5.7000%                   | 72.3000%                   |
| 2025-10-27 | $21060618.66              | $251455618.66              | 6.0000%                   | 71.2000%                   |
| 2025-10-28 | $21057915.86              | $259397915.86              | 6.0000%                   | 73.7000%                   |
| 2025-10-29 | $31061057.08              | $257786057.08              | 8.9000%                   | 73.5000%                   |
| 2025-10-30 | $23660395.93              | $250385395.93              | 6.7000%                   | 70.9000%                   |
| 2025-10-31 | $23924376.95              | $250159376.95              | 6.8000%                   | 70.8000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-10-01 | 2.9400%             |
| 2025-10-02 | 2.9400%             |
| 2025-10-03 | 2.9400%             |
| 2025-10-06 | 2.9300%             |
| 2025-10-07 | 2.9300%             |
| 2025-10-08 | 2.9100%             |
| 2025-10-09 | 2.8800%             |
| 2025-10-10 | 2.7600%             |
| 2025-10-14 | 2.7300%             |
| 2025-10-15 | 2.7000%             |
| 2025-10-16 | 2.6600%             |
| 2025-10-17 | 2.5400%             |
| 2025-10-20 | 2.5100%             |
| 2025-10-21 | 2.4700%             |
| 2025-10-22 | 2.4600%             |
| 2025-10-23 | 2.4900%             |
| 2025-10-24 | 2.5800%             |
| 2025-10-27 | 2.6200%             |
| 2025-10-28 | 2.6500%             |
| 2025-10-29 | 2.7000%             |
| 2025-10-30 | 2.7700%             |
| 2025-10-31 | 2.9700%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-10-01 | 1.0001                      |
|  |  |
| 2025-10-02 | 1.0001                      |
|  |  |
| 2025-10-03 | 1.0001                      |
|  |  |
| 2025-10-06 | 1.0001                      |
|  |  |
| 2025-10-07 | 1.0001                      |
|  |  |
| 2025-10-08 | 1.0001                      |
|  |  |
| 2025-10-09 | 1.0001                      |
|  |  |
| 2025-10-10 | 1.0001                      |
|  |  |
| 2025-10-14 | 1.0001                      |
|  |  |
| 2025-10-15 | 1.0001                      |
|  |  |
| 2025-10-16 | 1.0001                      |
|  |  |
| 2025-10-17 | 1.0001                      |
|  |  |
| 2025-10-20 | 1.0001                      |
|  |  |
| 2025-10-21 | 1.0001                      |
|  |  |
| 2025-10-22 | 1.0001                      |
|  |  |
| 2025-10-23 | 1.0001                      |
|  |  |
| 2025-10-24 | 1.0001                      |
|  |  |
| 2025-10-27 | 1.0001                      |
|  |  |
| 2025-10-28 | 1.0001                      |
|  |  |
| 2025-10-29 | 1.0001                      |
|  |  |
| 2025-10-30 | 1.0000                      |
|  |  |
| 2025-10-31 | 1.0000                      |
|  |  |

## Part B: Class-Level Information about the Fund

### Class: Class Y

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $12408034.69

- **Number of Shares Outstanding:** 12401016.5400

- **Expense Reimbursement/Waiver:** 1264.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-10-01 | 1.0006          |
|  |  |
| 2025-10-02 | 1.0006          |
|  |  |
| 2025-10-03 | 1.0006          |
|  |  |
| 2025-10-06 | 1.0006          |
|  |  |
| 2025-10-07 | 1.0006          |
|  |  |
| 2025-10-08 | 1.0006          |
|  |  |
| 2025-10-09 | 1.0006          |
|  |  |
| 2025-10-10 | 1.0006          |
|  |  |
| 2025-10-14 | 1.0006          |
|  |  |
| 2025-10-15 | 1.0006          |
|  |  |
| 2025-10-16 | 1.0006          |
|  |  |
| 2025-10-17 | 1.0007          |
|  |  |
| 2025-10-20 | 1.0007          |
|  |  |
| 2025-10-21 | 1.0007          |
|  |  |
| 2025-10-22 | 1.0007          |
|  |  |
| 2025-10-23 | 1.0007          |
|  |  |
| 2025-10-24 | 1.0007          |
|  |  |
| 2025-10-27 | 1.0006          |
|  |  |
| 2025-10-28 | 1.0006          |
|  |  |
| 2025-10-29 | 1.0006          |
|  |  |
| 2025-10-30 | 1.0006          |
|  |  |
| 2025-10-31 | 1.0006          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-10-01 | $827075.28                | $702699.79              |
| 2025-10-02 | $157752.62                | $0.00                   |
| 2025-10-03 | $4539.11                  | $62958.23               |
| 2025-10-06 | $0.00                     | $418432.97              |
| 2025-10-07 | $0.00                     | $277495.96              |
| 2025-10-08 | $596.00                   | $154897.37              |
| 2025-10-09 | $129468.11                | $0.00                   |
| 2025-10-10 | $333.88                   | $187698.02              |
| 2025-10-14 | $60602.52                 | $595870.62              |
| 2025-10-15 | $0.00                     | $100361.56              |
| 2025-10-16 | $51915.11                 | $59482.03               |
| 2025-10-17 | $6903.06                  | $164621.57              |
| 2025-10-20 | $0.00                     | $607159.68              |
| 2025-10-21 | $36762.32                 | $90.00                  |
| 2025-10-22 | $3551.22                  | $221186.67              |
| 2025-10-23 | $0.00                     | $461302.82              |
| 2025-10-24 | $66581.67                 | $0.00                   |
| 2025-10-27 | $496253.43                | $22332.82               |
| 2025-10-28 | $125733.96                | $0.00                   |
| 2025-10-29 | $26340.22                 | $0.00                   |
| 2025-10-30 | $340842.31                | $90121.17               |
| 2025-10-31 | $13503.78                 | $0.00                   |

**Total Gross Subscriptions (Month):** $2348754.60

**Total Gross Redemptions (Month):** $4126711.28

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-10-01 | 2.4900%           |
| 2025-10-02 | 2.4900%           |
| 2025-10-03 | 2.4900%           |
| 2025-10-06 | 2.4800%           |
| 2025-10-07 | 2.4800%           |
| 2025-10-08 | 2.4600%           |
| 2025-10-09 | 2.4300%           |
| 2025-10-10 | 2.3100%           |
| 2025-10-14 | 2.2800%           |
| 2025-10-15 | 2.2500%           |
| 2025-10-16 | 2.2100%           |
| 2025-10-17 | 2.1000%           |
| 2025-10-20 | 2.0600%           |
| 2025-10-21 | 2.0200%           |
| 2025-10-22 | 2.0100%           |
| 2025-10-23 | 2.0400%           |
| 2025-10-24 | 2.1300%           |
| 2025-10-27 | 2.1700%           |
| 2025-10-28 | 2.2000%           |
| 2025-10-29 | 2.2500%           |
| 2025-10-30 | 2.3200%           |
| 2025-10-31 | 2.5200%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 100.0000%        | 0.0000%              |

### Class: Class Z

- **Minimum Initial Investment:** $10000000.00

- **Net Assets of Class:** $299947760.90

- **Number of Shares Outstanding:** 299971723.8800

- **Expense Reimbursement/Waiver:** 31337.06

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-10-01 | 1.0000          |
|  |  |
| 2025-10-02 | 1.0000          |
|  |  |
| 2025-10-03 | 1.0000          |
|  |  |
| 2025-10-06 | 1.0000          |
|  |  |
| 2025-10-07 | 1.0001          |
|  |  |
| 2025-10-08 | 1.0001          |
|  |  |
| 2025-10-09 | 1.0000          |
|  |  |
| 2025-10-10 | 1.0000          |
|  |  |
| 2025-10-14 | 1.0000          |
|  |  |
| 2025-10-15 | 1.0000          |
|  |  |
| 2025-10-16 | 1.0000          |
|  |  |
| 2025-10-17 | 1.0000          |
|  |  |
| 2025-10-20 | 1.0000          |
|  |  |
| 2025-10-21 | 1.0000          |
|  |  |
| 2025-10-22 | 1.0000          |
|  |  |
| 2025-10-23 | 1.0000          |
|  |  |
| 2025-10-24 | 1.0000          |
|  |  |
| 2025-10-27 | 1.0000          |
|  |  |
| 2025-10-28 | 1.0000          |
|  |  |
| 2025-10-29 | 1.0000          |
|  |  |
| 2025-10-30 | 0.9999          |
|  |  |
| 2025-10-31 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-10-01 | $2873184.51               | $948046.21              |
| 2025-10-02 | $5365608.27               | $686030.84              |
| 2025-10-03 | $11762.64                 | $816797.78              |
| 2025-10-06 | $534437.45                | $595049.36              |
| 2025-10-07 | $418721.45                | $1492067.42             |
| 2025-10-08 | $967409.56                | $743982.74              |
| 2025-10-09 | $2662.93                  | $2863255.22             |
| 2025-10-10 | $858808.69                | $419038.76              |
| 2025-10-14 | $237740.69                | $1230448.05             |
| 2025-10-15 | $1125234.85               | $1591083.21             |
| 2025-10-16 | $137771.23                | $2950471.85             |
| 2025-10-17 | $10259.74                 | $1109364.65             |
| 2025-10-20 | $248324.06                | $1882364.79             |
| 2025-10-21 | $113423.82                | $897522.51              |
| 2025-10-22 | $0.00                     | $3513096.05             |
| 2025-10-23 | $650331.53                | $1493703.55             |
| 2025-10-24 | $481967.96                | $1374948.54             |
| 2025-10-27 | $0.00                     | $14718853.84            |
| 2025-10-28 | $0.00                     | $1106521.70             |
| 2025-10-29 | $0.00                     | $1840772.30             |
| 2025-10-30 | $2679275.68               | $149906.88              |
| 2025-10-31 | $1333560.29               | $824040.47              |

**Total Gross Subscriptions (Month):** $18050485.35

**Total Gross Redemptions (Month):** $43247366.72

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-10-01 | 2.7400%           |
| 2025-10-02 | 2.7400%           |
| 2025-10-03 | 2.7400%           |
| 2025-10-06 | 2.7300%           |
| 2025-10-07 | 2.7300%           |
| 2025-10-08 | 2.7100%           |
| 2025-10-09 | 2.6800%           |
| 2025-10-10 | 2.5600%           |
| 2025-10-14 | 2.5300%           |
| 2025-10-15 | 2.5000%           |
| 2025-10-16 | 2.4600%           |
| 2025-10-17 | 2.3400%           |
| 2025-10-20 | 2.3100%           |
| 2025-10-21 | 2.2700%           |
| 2025-10-22 | 2.2600%           |
| 2025-10-23 | 2.2900%           |
| 2025-10-24 | 2.3800%           |
| 2025-10-27 | 2.4200%           |
| 2025-10-28 | 2.4500%           |
| 2025-10-29 | 2.5000%           |
| 2025-10-30 | 2.5700%           |
| 2025-10-31 | 2.7700%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.4500%         | 0.0000%              |

### Class: Class T

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $7271308.04

- **Number of Shares Outstanding:** 7250211.7500

- **Expense Reimbursement/Waiver:** 713.35

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-10-01 | 1.0030          |
|  |  |
| 2025-10-02 | 1.0030          |
|  |  |
| 2025-10-03 | 1.0030          |
|  |  |
| 2025-10-06 | 1.0030          |
|  |  |
| 2025-10-07 | 1.0030          |
|  |  |
| 2025-10-08 | 1.0030          |
|  |  |
| 2025-10-09 | 1.0030          |
|  |  |
| 2025-10-10 | 1.0030          |
|  |  |
| 2025-10-14 | 1.0030          |
|  |  |
| 2025-10-15 | 1.0030          |
|  |  |
| 2025-10-16 | 1.0030          |
|  |  |
| 2025-10-17 | 1.0030          |
|  |  |
| 2025-10-20 | 1.0030          |
|  |  |
| 2025-10-21 | 1.0030          |
|  |  |
| 2025-10-22 | 1.0030          |
|  |  |
| 2025-10-23 | 1.0030          |
|  |  |
| 2025-10-24 | 1.0029          |
|  |  |
| 2025-10-27 | 1.0029          |
|  |  |
| 2025-10-28 | 1.0030          |
|  |  |
| 2025-10-29 | 1.0030          |
|  |  |
| 2025-10-30 | 1.0029          |
|  |  |
| 2025-10-31 | 1.0029          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-10-01 | $64.36                    | $25481.98               |
| 2025-10-02 | $13509.36                 | $0.00                   |
| 2025-10-03 | $0.00                     | $0.00                   |
| 2025-10-06 | $315.56                   | $0.00                   |
| 2025-10-07 | $0.00                     | $0.00                   |
| 2025-10-08 | $0.00                     | $0.00                   |
| 2025-10-09 | $20.80                    | $0.00                   |
| 2025-10-10 | $0.00                     | $0.00                   |
| 2025-10-14 | $0.00                     | $0.00                   |
| 2025-10-15 | $690.65                   | $0.00                   |
| 2025-10-16 | $250.20                   | $0.00                   |
| 2025-10-17 | $0.00                     | $0.00                   |
| 2025-10-20 | $28.38                    | $0.00                   |
| 2025-10-21 | $0.00                     | $746.68                 |
| 2025-10-22 | $82.00                    | $0.00                   |
| 2025-10-23 | $0.00                     | $0.00                   |
| 2025-10-24 | $0.00                     | $0.00                   |
| 2025-10-27 | $0.00                     | $0.00                   |
| 2025-10-28 | $0.00                     | $19015.80               |
| 2025-10-29 | $0.00                     | $0.00                   |
| 2025-10-30 | $0.00                     | $0.00                   |
| 2025-10-31 | $1504.50                  | $0.00                   |

**Total Gross Subscriptions (Month):** $16465.81

**Total Gross Redemptions (Month):** $45244.46

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-10-01 | 2.5500%           |
| 2025-10-02 | 2.5500%           |
| 2025-10-03 | 2.5400%           |
| 2025-10-06 | 2.5400%           |
| 2025-10-07 | 2.5400%           |
| 2025-10-08 | 2.5100%           |
| 2025-10-09 | 2.4900%           |
| 2025-10-10 | 2.3700%           |
| 2025-10-14 | 2.3400%           |
| 2025-10-15 | 2.3100%           |
| 2025-10-16 | 2.2700%           |
| 2025-10-17 | 2.1500%           |
| 2025-10-20 | 2.1100%           |
| 2025-10-21 | 2.0700%           |
| 2025-10-22 | 2.0700%           |
| 2025-10-23 | 2.1000%           |
| 2025-10-24 | 2.1900%           |
| 2025-10-27 | 2.2200%           |
| 2025-10-28 | 2.2600%           |
| 2025-10-29 | 2.3100%           |
| 2025-10-30 | 2.3800%           |
| 2025-10-31 | 2.5800%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.9900%         | 0.0000%              |

### Class: Class A

- **Minimum Initial Investment:** $1000.00

- **Net Assets of Class:** $33055570.15

- **Number of Shares Outstanding:** 33055320.2900

- **Expense Reimbursement/Waiver:** 3269.75

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-10-01 | 1.0001          |
|  |  |
| 2025-10-02 | 1.0001          |
|  |  |
| 2025-10-03 | 1.0001          |
|  |  |
| 2025-10-06 | 1.0001          |
|  |  |
| 2025-10-07 | 1.0001          |
|  |  |
| 2025-10-08 | 1.0001          |
|  |  |
| 2025-10-09 | 1.0001          |
|  |  |
| 2025-10-10 | 1.0001          |
|  |  |
| 2025-10-14 | 1.0001          |
|  |  |
| 2025-10-15 | 1.0001          |
|  |  |
| 2025-10-16 | 1.0001          |
|  |  |
| 2025-10-17 | 1.0001          |
|  |  |
| 2025-10-20 | 1.0001          |
|  |  |
| 2025-10-21 | 1.0001          |
|  |  |
| 2025-10-22 | 1.0001          |
|  |  |
| 2025-10-23 | 1.0001          |
|  |  |
| 2025-10-24 | 1.0000          |
|  |  |
| 2025-10-27 | 1.0000          |
|  |  |
| 2025-10-28 | 1.0001          |
|  |  |
| 2025-10-29 | 1.0000          |
|  |  |
| 2025-10-30 | 1.0000          |
|  |  |
| 2025-10-31 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-10-01 | $16413.17                 | $123133.92              |
| 2025-10-02 | $0.00                     | $86084.65               |
| 2025-10-03 | $24942.34                 | $10294.41               |
| 2025-10-06 | $0.00                     | $13342.75               |
| 2025-10-07 | $60.07                    | $34168.90               |
| 2025-10-08 | $2958.28                  | $914.49                 |
| 2025-10-09 | $171623.00                | $0.00                   |
| 2025-10-10 | $10936.62                 | $643438.18              |
| 2025-10-14 | $11463.98                 | $1395.00                |
| 2025-10-15 | $47899.68                 | $10630.72               |
| 2025-10-16 | $66972.13                 | $9000.00                |
| 2025-10-17 | $414362.25                | $25041.68               |
| 2025-10-20 | $0.00                     | $184954.10              |
| 2025-10-21 | $51297.23                 | $60443.28               |
| 2025-10-22 | $39477.89                 | $35530.63               |
| 2025-10-23 | $0.00                     | $554618.31              |
| 2025-10-24 | $440044.84                | $0.00                   |
| 2025-10-27 | $121692.44                | $57839.04               |
| 2025-10-28 | $4701.07                  | $55473.84               |
| 2025-10-29 | $216347.29                | $17150.00               |
| 2025-10-30 | $212865.00                | $425388.33              |
| 2025-10-31 | $75351.81                 | $335341.45              |

**Total Gross Subscriptions (Month):** $1929409.09

**Total Gross Redemptions (Month):** $2684183.68

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-10-01 | 2.1900%           |
| 2025-10-02 | 2.1900%           |
| 2025-10-03 | 2.1900%           |
| 2025-10-06 | 2.1800%           |
| 2025-10-07 | 2.1800%           |
| 2025-10-08 | 2.1600%           |
| 2025-10-09 | 2.1300%           |
| 2025-10-10 | 2.0100%           |
| 2025-10-14 | 1.9800%           |
| 2025-10-15 | 1.9500%           |
| 2025-10-16 | 1.9100%           |
| 2025-10-17 | 1.7900%           |
| 2025-10-20 | 1.7600%           |
| 2025-10-21 | 1.7200%           |
| 2025-10-22 | 1.7100%           |
| 2025-10-23 | 1.7400%           |
| 2025-10-24 | 1.8300%           |
| 2025-10-27 | 1.8700%           |
| 2025-10-28 | 1.9000%           |
| 2025-10-29 | 1.9500%           |
| 2025-10-30 | 2.0200%           |
| 2025-10-31 | 2.2200%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer                                       |  | 12.4800%         | 0.0000%              |
| Depository institution or other banking institution |  | 67.8200%         | 0.0000%              |

### Class: Class V

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $30619.21

- **Number of Shares Outstanding:** 30637.9100

- **Expense Reimbursement/Waiver:** 6.91

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-10-01 | 0.9999          |
|  |  |
| 2025-10-02 | 0.9999          |
|  |  |
| 2025-10-03 | 0.9999          |
|  |  |
| 2025-10-06 | 0.9999          |
|  |  |
| 2025-10-07 | 1.0000          |
|  |  |
| 2025-10-08 | 1.0000          |
|  |  |
| 2025-10-09 | 0.9999          |
|  |  |
| 2025-10-10 | 0.9999          |
|  |  |
| 2025-10-14 | 0.9994          |
|  |  |
| 2025-10-15 | 0.9995          |
|  |  |
| 2025-10-16 | 0.9995          |
|  |  |
| 2025-10-17 | 0.9995          |
|  |  |
| 2025-10-20 | 0.9995          |
|  |  |
| 2025-10-21 | 0.9995          |
|  |  |
| 2025-10-22 | 0.9995          |
|  |  |
| 2025-10-23 | 0.9994          |
|  |  |
| 2025-10-24 | 0.9994          |
|  |  |
| 2025-10-27 | 0.9994          |
|  |  |
| 2025-10-28 | 0.9994          |
|  |  |
| 2025-10-29 | 0.9994          |
|  |  |
| 2025-10-30 | 0.9994          |
|  |  |
| 2025-10-31 | 0.9994          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-10-01 | $2.09                     | $6257.87                |
| 2025-10-02 | $107.88                   | $0.00                   |
| 2025-10-03 | $159.11                   | $0.00                   |
| 2025-10-06 | $0.00                     | $0.00                   |
| 2025-10-07 | $0.00                     | $0.00                   |
| 2025-10-08 | $0.00                     | $0.00                   |
| 2025-10-09 | $0.00                     | $0.00                   |
| 2025-10-10 | $0.00                     | $0.00                   |
| 2025-10-14 | $0.00                     | $109895.00              |
| 2025-10-15 | $0.00                     | $0.00                   |
| 2025-10-16 | $516.40                   | $0.00                   |
| 2025-10-17 | $0.00                     | $0.00                   |
| 2025-10-20 | $0.00                     | $0.00                   |
| 2025-10-21 | $0.00                     | $0.00                   |
| 2025-10-22 | $0.00                     | $0.00                   |
| 2025-10-23 | $0.00                     | $0.00                   |
| 2025-10-24 | $0.00                     | $0.00                   |
| 2025-10-27 | $0.00                     | $0.00                   |
| 2025-10-28 | $0.00                     | $0.00                   |
| 2025-10-29 | $0.00                     | $0.00                   |
| 2025-10-30 | $0.00                     | $0.00                   |
| 2025-10-31 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $785.48

**Total Gross Redemptions (Month):** $116152.87

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-10-01 | 2.6400%           |
| 2025-10-02 | 2.6400%           |
| 2025-10-03 | 2.6300%           |
| 2025-10-06 | 2.6300%           |
| 2025-10-07 | 2.6300%           |
| 2025-10-08 | 2.6000%           |
| 2025-10-09 | 2.5800%           |
| 2025-10-10 | 2.4600%           |
| 2025-10-14 | 2.4300%           |
| 2025-10-15 | 2.4000%           |
| 2025-10-16 | 2.3600%           |
| 2025-10-17 | 2.2500%           |
| 2025-10-20 | 2.2100%           |
| 2025-10-21 | 2.1800%           |
| 2025-10-22 | 2.1700%           |
| 2025-10-23 | 2.2000%           |
| 2025-10-24 | 2.2900%           |
| 2025-10-27 | 2.3300%           |
| 2025-10-28 | 2.3600%           |
| 2025-10-29 | 2.4100%           |
| 2025-10-30 | 2.4800%           |
| 2025-10-31 | 2.6700%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 96.6900%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: STEPPENWOLF THEATRE CO

- **C.1 - Title:** Illinois Finance Authority, Steppenwolf Theatre Company Project, Series 2019
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45204EU30, C.4 - ISIN: US45204EU302, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $13200000.00
- **C.18.a - Value (excl. sponsor support):** $13200000.00
- **C.19 - Percentage of Net Assets:** 3.7400%
- **C.17 - Yield as of Reporting Date:** 3.3500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2049-03-01
- **C.10 - Ratings:** Standard and Poors Long: AA-; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 2: CHRISTUS HEALTH OBL GROUP

- **C.1 - Title:** Tarrant County Cultural Education Facilities Finance Corp, Christus Health, Series 2008C-2
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 87638TDD2, C.4 - ISIN: US87638TDD28, C.3 - LEI: 549300ROY505NVTMMI25
- **C.18 - Value (incl. sponsor support):** $135000.00
- **C.18.a - Value (excl. sponsor support):** $135000.00
- **C.19 - Percentage of Net Assets:** 0.0400%
- **C.17 - Yield as of Reporting Date:** 3.3500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2047-07-01
- **C.10 - Ratings:** Moodys Long: Aa1; Standard and Poors Short: A-1+; Standard and Poors Long: AA+; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 3: UNIVERSITY OF MINNESOTA

- **C.1 - Title:** University of Minnesota,  Series D
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91447AHR1, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $11976967.66
- **C.18.a - Value (excl. sponsor support):** $11976967.66
- **C.19 - Percentage of Net Assets:** 3.4000%
- **C.17 - Yield as of Reporting Date:** 2.6600%
- **C.11 - Maturity Date (WAM):** 2025-12-02
- **C.12 - Maturity Date (WAL):** 2025-12-02
- **C.13 - Final Legal Maturity Date:** 2025-12-02
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: P-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 4: HOUSTON TX UTILITY SYS REVENUE

- **C.1 - Title:** City of Houston, Texas, Combined Utility System, Series 2004B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 442435XR9, C.4 - ISIN: US442435XR92, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $6000000.00
- **C.18.a - Value (excl. sponsor support):** $6000000.00
- **C.19 - Percentage of Net Assets:** 1.7000%
- **C.17 - Yield as of Reporting Date:** 3.2700%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2034-05-15
- **C.10 - Ratings:** Standard and Poors Short: A-1; Moodys Short: VMIG1; Moodys Long: Aa1; Fitch Long: AAA; Fitch Short: F1; Standard and Poors Long: AA+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 5: HOUSTON TX INDEP SCH DIST

- **C.1 - Title:** Houston Independent School District, Limited Tax Refunding Bonds, Series 2025B
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 442403RD5, C.4 - ISIN: US442403RD52, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $8806510.13
- **C.18.a - Value (excl. sponsor support):** $8806510.13
- **C.19 - Percentage of Net Assets:** 2.5000%
- **C.17 - Yield as of Reporting Date:** 3.3000%
- **C.11 - Maturity Date (WAM):** 2026-02-15
- **C.12 - Maturity Date (WAL):** 2026-02-15
- **C.13 - Final Legal Maturity Date:** 2026-02-15
- **C.10 - Ratings:** Standard and Poors Long: AAA; Moodys Long: Aaa
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 6: PENNSYLVANIA ST TURNPIKE COMMI

- **C.1 - Title:** Pennsylvania Turnpike Commission Variable Rate Turnpike Revenue Bonds, Series 2020A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 709225AA4, C.4 - ISIN: US709225AA45, C.3 - LEI: 549300J8LLBYEYEXZJ24
- **C.18 - Value (incl. sponsor support):** $17330000.00
- **C.18.a - Value (excl. sponsor support):** $17330000.00
- **C.19 - Percentage of Net Assets:** 4.9100%
- **C.17 - Yield as of Reporting Date:** 3.2400%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2050-12-01
- **C.10 - Ratings:** Moodys Long: Aa1; Moodys Short: VMIG1; Fitch Short: F1; Fitch Long: AA+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 7: MIAMISBURG OH

- **C.1 - Title:** City of Miamisburg, Montgomery County, Ohio Recreational Facilities, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 593864MK4, C.4 - ISIN: US593864MK43, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3004865.10
- **C.18.a - Value (excl. sponsor support):** $3004865.10
- **C.19 - Percentage of Net Assets:** 0.8500%
- **C.17 - Yield as of Reporting Date:** 3.0500%
- **C.11 - Maturity Date (WAM):** 2026-02-10
- **C.12 - Maturity Date (WAL):** 2026-02-10
- **C.13 - Final Legal Maturity Date:** 2026-02-10
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 8: NEW ALBANY OH

- **C.1 - Title:** City of New Albany, Ohio, Capital Facilities, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 641840GF4, C.4 - ISIN: US641840GF44, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3367160.04
- **C.18.a - Value (excl. sponsor support):** $3367160.04
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 2.6800%
- **C.11 - Maturity Date (WAM):** 2026-06-04
- **C.12 - Maturity Date (WAL):** 2026-06-04
- **C.13 - Final Legal Maturity Date:** 2026-06-04
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 9: KING COUNTY WASH DIR ASN

- **C.1 - Title:** Kings County Washington, Series A
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 49476VJS3, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $10000000.00
- **C.18.a - Value (excl. sponsor support):** $10000000.00
- **C.19 - Percentage of Net Assets:** 2.8400%
- **C.17 - Yield as of Reporting Date:** 2.6400%
- **C.11 - Maturity Date (WAM):** 2026-01-08
- **C.12 - Maturity Date (WAL):** 2026-01-08
- **C.13 - Final Legal Maturity Date:** 2026-01-08
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: P-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 10: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Cheveron U.S.A. Inc Project, Series 2009E
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABM5, C.4 - ISIN: US60528ABM53, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $1750000.00
- **C.18.a - Value (excl. sponsor support):** $1750000.00
- **C.19 - Percentage of Net Assets:** 0.5000%
- **C.17 - Yield as of Reporting Date:** 3.9500%
- **C.11 - Maturity Date (WAM):** 2025-11-03
- **C.12 - Maturity Date (WAL):** 2025-11-03
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Long: AA-; Moodys Long: Aa2; Standard and Poors Short: A-1+; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 11: ST IGNATIUS COLLEGE PREP

- **C.1 - Title:** Illinois Finance Authority, St. Ignatius College Prep Project, Series 2006
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200BN38, C.4 - ISIN: US45200BN384, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $12000000.00
- **C.18.a - Value (excl. sponsor support):** $12000000.00
- **C.19 - Percentage of Net Assets:** 3.4000%
- **C.17 - Yield as of Reporting Date:** 3.2500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2036-12-01
- **C.10 - Ratings:** Moodys Long: A1; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 12: LUCAS CNTY OH

- **C.1 - Title:** County of Lucas, Ohio, Various Purpose Improvements Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 54930LUM5, C.4 - ISIN: US54930LUM52, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4216350.70
- **C.18.a - Value (excl. sponsor support):** $4216350.70
- **C.19 - Percentage of Net Assets:** 1.2000%
- **C.17 - Yield as of Reporting Date:** 2.4700%
- **C.11 - Maturity Date (WAM):** 2026-10-09
- **C.12 - Maturity Date (WAL):** 2026-10-09
- **C.13 - Final Legal Maturity Date:** 2026-10-09
- **C.10 - Ratings:** Standard and Poors Short: SP-1+; Moodys Short: MIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 13: RICHARD H DRIEHAUS MUSEUM

- **C.1 - Title:** Illinois Finance Authority, Richard Driehaus Foundation, Series 2005
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200BKX5, C.4 - ISIN: US45200BKX54, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $12100000.00
- **C.18.a - Value (excl. sponsor support):** $12100000.00
- **C.19 - Percentage of Net Assets:** 3.4300%
- **C.17 - Yield as of Reporting Date:** 3.2500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2035-02-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa3
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 14: NORTON HEALTHCARE OBLIG

- **C.1 - Title:** Louisville/Jefferson County Metro Government, Norton Healthcare, Inc, Series 2013C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 54659LAW4, C.4 - ISIN: US54659LAW46, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14990000.00
- **C.18.a - Value (excl. sponsor support):** $14990000.00
- **C.19 - Percentage of Net Assets:** 4.2500%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2043-10-01
- **C.10 - Ratings:** Fitch Long: A+; Standard and Poors Long: AA; Standard and Poors Short: A-1; Fitch Short: F1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 15: ANDERSON TWP OH PARK DIST

- **C.1 - Title:** Anderson Township Park District, Ohio, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 034150AV4, C.4 - ISIN: US034150AV42, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4105707.61
- **C.18.a - Value (excl. sponsor support):** $4105707.61
- **C.19 - Percentage of Net Assets:** 1.1600%
- **C.17 - Yield as of Reporting Date:** 3.1200%
- **C.11 - Maturity Date (WAM):** 2026-03-11
- **C.12 - Maturity Date (WAL):** 2026-03-11
- **C.13 - Final Legal Maturity Date:** 2026-03-11
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 16: PARKVIEW HEALTH SYSTEM

- **C.1 - Title:** Indiana Finance Authority, Parkview Health System Obligated Group, Series 2009C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45471AAQ5, C.4 - ISIN: US45471AAQ58, C.3 - LEI: 549300PS0PAS7NDSSI20
- **C.18 - Value (incl. sponsor support):** $7540000.00
- **C.18.a - Value (excl. sponsor support):** $7540000.00
- **C.19 - Percentage of Net Assets:** 2.1400%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2039-11-01
- **C.10 - Ratings:** Standard and Poors Long: AA+; Moodys Short: VMIG1; Standard and Poors Short: A-1; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 17: MACON GA WTR AUTH

- **C.1 - Title:** Macon Water Authority, Tax-Exempt Adjustable Mode Water & Sewer Refunding and Improvement Revenue Bonds, Series 2018B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 555758HX2, C.4 - ISIN: US555758HX27, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $17120000.00
- **C.18.a - Value (excl. sponsor support):** $17120000.00
- **C.19 - Percentage of Net Assets:** 4.8500%
- **C.17 - Yield as of Reporting Date:** 3.2500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2038-10-01
- **C.10 - Ratings:** Standard and Poors Long: AA; Moodys Long: Aa2; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 18: CLARK CNTY NV ARPT REVENUE

- **C.1 - Title:** Clark County, Nevada Airport System, Series 2008D-2B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 18085PNC4, C.4 - ISIN: US18085PNC40, C.3 - LEI: 549300LDD8NZB2EOVG83
- **C.18 - Value (incl. sponsor support):** $5020000.00
- **C.18.a - Value (excl. sponsor support):** $5020000.00
- **C.19 - Percentage of Net Assets:** 1.4200%
- **C.17 - Yield as of Reporting Date:** 3.2500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Moodys Long: Aa1; Fitch Short: F1; Fitch Long: A; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: UNIVERSITY OF MICHIGAN

- **C.1 - Title:** University of Michigan, Series B
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91445AR76, C.4 - ISIN: US91445AR761, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $8999776.80
- **C.18.a - Value (excl. sponsor support):** $8999776.80
- **C.19 - Percentage of Net Assets:** 2.5500%
- **C.17 - Yield as of Reporting Date:** 2.8800%
- **C.11 - Maturity Date (WAM):** 2025-11-04
- **C.12 - Maturity Date (WAL):** 2025-11-04
- **C.13 - Final Legal Maturity Date:** 2025-11-04
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 20: SIDNEY OH

- **C.1 - Title:** City of Sidney, Ohio, Various Purpose Limited Tax General Obligation Bond Anticipation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 826112LP7, C.4 - ISIN: US826112LP76, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5049027.50
- **C.18.a - Value (excl. sponsor support):** $5049027.50
- **C.19 - Percentage of Net Assets:** 1.4300%
- **C.17 - Yield as of Reporting Date:** 2.4800%
- **C.11 - Maturity Date (WAM):** 2026-10-07
- **C.12 - Maturity Date (WAL):** 2026-10-07
- **C.13 - Final Legal Maturity Date:** 2026-10-07
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 21: BAYCARE OBLIGATED GROUP

- **C.1 - Title:** Hillsborough County Industrial Development Authority, Baycare Health Systems, Series 2020C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 43233KAC8, C.4 - ISIN: US43233KAC80, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4955000.00
- **C.18.a - Value (excl. sponsor support):** $4955000.00
- **C.19 - Percentage of Net Assets:** 1.4000%
- **C.17 - Yield as of Reporting Date:** 3.2500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2038-11-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Fitch Long: AA; Fitch Short: F1+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Cheveron U.S.A. Inc Project, Series 2009B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABJ2, C.4 - ISIN: US60528ABJ25, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $1685000.00
- **C.18.a - Value (excl. sponsor support):** $1685000.00
- **C.19 - Percentage of Net Assets:** 0.4800%
- **C.17 - Yield as of Reporting Date:** 3.9500%
- **C.11 - Maturity Date (WAM):** 2025-11-03
- **C.12 - Maturity Date (WAL):** 2025-11-03
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Long: Aa2; Moodys Short: VMIG1; Standard and Poors Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 23: HAMILTON OH

- **C.1 - Title:** City of Hamilton, Ohio, General Obligation Bond, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 407756P82, C.4 - ISIN: US407756P829, C.3 - LEI: 549300NCXYTNZWHRP508
- **C.18 - Value (incl. sponsor support):** $4323827.95
- **C.18.a - Value (excl. sponsor support):** $4323827.95
- **C.19 - Percentage of Net Assets:** 1.2300%
- **C.17 - Yield as of Reporting Date:** 3.1100%
- **C.11 - Maturity Date (WAM):** 2025-12-17
- **C.12 - Maturity Date (WAL):** 2025-12-17
- **C.13 - Final Legal Maturity Date:** 2025-12-17
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 24: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Cheveron U.S.A. Inc Project, Series 2007B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528AAT1, C.4 - ISIN: US60528AAT16, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $2600000.00
- **C.18.a - Value (excl. sponsor support):** $2600000.00
- **C.19 - Percentage of Net Assets:** 0.7400%
- **C.17 - Yield as of Reporting Date:** 3.9500%
- **C.11 - Maturity Date (WAM):** 2025-11-03
- **C.12 - Maturity Date (WAL):** 2025-11-03
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Long: AA-; Moodys Short: VMIG1; Moodys Long: Aa2; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 25: NEW YORK CITY NY TRANSITIONAL

- **C.1 - Title:** New York City Transitional Finance Authority Future Tax Secured Subordinate Bonds, Series 2013C-5
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 64971QQ63, C.4 - ISIN: US64971QQ635, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $13250000.00
- **C.18.a - Value (excl. sponsor support):** $13250000.00
- **C.19 - Percentage of Net Assets:** 3.7600%
- **C.17 - Yield as of Reporting Date:** 3.3200%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2041-11-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Fitch Short: F1; Fitch Long: AAA; Moodys Short: VMIG1; Standard and Poors Long: AAA; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 26: MIAMI-DADE CNTY FL SPL OBLIG

- **C.1 - Title:** Miami-Dade County, Florida, Juvenile Courthouse Project, Series 2003B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 59333NJB0, C.4 - ISIN: US59333NJB01, C.3 - LEI: 549300QG0NBD9HULR263
- **C.18 - Value (incl. sponsor support):** $420000.00
- **C.18.a - Value (excl. sponsor support):** $420000.00
- **C.19 - Percentage of Net Assets:** 0.1200%
- **C.17 - Yield as of Reporting Date:** 3.2000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2043-04-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Short: A-1; Standard and Poors Long: AA+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 27: ASPIRUS INC OBL GROUP

- **C.1 - Title:** Wisconsin Health and Educational Facilities Authority, Aspirus Wausau Hospital, Inc., Series 2004
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 97710BLW0, C.4 - ISIN: US97710BLW09, C.3 - LEI: 549300ISNGXS0VHGVD41
- **C.18 - Value (incl. sponsor support):** $9700000.00
- **C.18.a - Value (excl. sponsor support):** $9700000.00
- **C.19 - Percentage of Net Assets:** 2.7500%
- **C.17 - Yield as of Reporting Date:** 3.1500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2034-08-15
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Long: AAA; Standard and Poors Short: A-1+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 28: MADISON WI MET SCH DIST

- **C.1 - Title:** Dane County, Wisconsin, Madison Metropolitan School District, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 558495RE9, C.4 - ISIN: US558495RE95, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5096083.00
- **C.18.a - Value (excl. sponsor support):** $5096083.00
- **C.19 - Percentage of Net Assets:** 1.4400%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2026-09-01
- **C.12 - Maturity Date (WAL):** 2026-09-01
- **C.13 - Final Legal Maturity Date:** 2026-09-01
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 29: EXXON CAPITAL VENTURES

- **C.1 - Title:** Gulf Coast Industrial Development Authority, ExxonMobil Project, Series 2012
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 402207AD6, C.4 - ISIN: US402207AD61, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $17880000.00
- **C.18.a - Value (excl. sponsor support):** $17880000.00
- **C.19 - Percentage of Net Assets:** 5.0700%
- **C.17 - Yield as of Reporting Date:** 3.9000%
- **C.11 - Maturity Date (WAM):** 2025-11-03
- **C.12 - Maturity Date (WAL):** 2025-11-03
- **C.13 - Final Legal Maturity Date:** 2041-11-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Short: A-1+; Moodys Long: Aa2; Standard and Poors Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 30: PORT TACOMA WA REVENUE

- **C.1 - Title:** Port of Tacoma, Subordinate Lien Revenue Bonds, Series 2008B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 735439NE7, C.4 - ISIN: US735439NE76, C.3 - LEI: 549300MLYO8L64QKXV81
- **C.18 - Value (incl. sponsor support):** $19000000.00
- **C.18.a - Value (excl. sponsor support):** $19000000.00
- **C.19 - Percentage of Net Assets:** 5.3900%
- **C.17 - Yield as of Reporting Date:** 3.2300%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2044-12-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa1; Standard and Poors Long: AA+; Standard and Poors Short: A-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 31: DELAWARE OH

- **C.1 - Title:** City of Delaware, Ohio, Fire Station & Land Acquisition
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 246181UP4, C.4 - ISIN: US246181UP49, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5012607.00
- **C.18.a - Value (excl. sponsor support):** $5012607.00
- **C.19 - Percentage of Net Assets:** 1.4200%
- **C.17 - Yield as of Reporting Date:** 3.1600%
- **C.11 - Maturity Date (WAM):** 2026-04-16
- **C.12 - Maturity Date (WAL):** 2026-04-16
- **C.13 - Final Legal Maturity Date:** 2026-04-16
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 32: UNIVERSITY OF TEXAS SYS

- **C.1 - Title:** University of Texas, Series A
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91514YHA4, C.4 - ISIN: US91514YHA47, C.3 - LEI: TEHUYFNKZR6XVWLGEU86
- **C.18 - Value (incl. sponsor support):** $13001779.70
- **C.18.a - Value (excl. sponsor support):** $13001779.70
- **C.19 - Percentage of Net Assets:** 3.6900%
- **C.17 - Yield as of Reporting Date:** 2.8900%
- **C.11 - Maturity Date (WAM):** 2025-12-10
- **C.12 - Maturity Date (WAL):** 2025-12-10
- **C.13 - Final Legal Maturity Date:** 2025-12-10
- **C.10 - Ratings:** Moodys Short: P-1; Standard and Poors Short: A-1+; Fitch Short: F1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 33: HALIFAX HOSP MED CTR OBL

- **C.1 - Title:** Halifax Hospital Medical Center Daytona Beach, Florida, Series 2008
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 405815HE4, C.4 - ISIN: US405815HE45, C.3 - LEI: 549300H6HDJUXLEMUW23
- **C.18 - Value (incl. sponsor support):** $9780000.00
- **C.18.a - Value (excl. sponsor support):** $9780000.00
- **C.19 - Percentage of Net Assets:** 2.7700%
- **C.17 - Yield as of Reporting Date:** 3.5000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2048-06-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Fitch Short: F1+; Fitch Long: AA; Standard and Poors Long: AA
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 34: MACALESTER COLLEGE

- **C.1 - Title:** Minnesota Higher Education Facilities Authority, Macalester College, Series Five-Q
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 6041518J2, C.4 - ISIN: US6041518J26, C.3 - LEI: BSGEFEIOM18Y80CKCV46
- **C.18 - Value (incl. sponsor support):** $9825000.00
- **C.18.a - Value (excl. sponsor support):** $9825000.00
- **C.19 - Percentage of Net Assets:** 2.7900%
- **C.17 - Yield as of Reporting Date:** 3.3200%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2033-03-01
- **C.10 - Ratings:** Moodys Long: Aa3; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 35: LAKE CNTY OH

- **C.1 - Title:** County of Lake, Ohio, General Obligation Note, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 5094266V9, C.4 - ISIN: US5094266V99, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5266724.24
- **C.18.a - Value (excl. sponsor support):** $5266724.24
- **C.19 - Percentage of Net Assets:** 1.4900%
- **C.17 - Yield as of Reporting Date:** 2.6300%
- **C.11 - Maturity Date (WAM):** 2026-09-16
- **C.12 - Maturity Date (WAL):** 2026-09-16
- **C.13 - Final Legal Maturity Date:** 2026-09-16
- **C.10 - Ratings:** Moodys Short: MIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 36: THE ADLER PLANETARIUM

- **C.1 - Title:** Illinois Educational Facilities Authority, The Adler Planetarium, Series 1997
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 452001TU4, C.4 - ISIN: US452001TU47, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5100000.00
- **C.18.a - Value (excl. sponsor support):** $5100000.00
- **C.19 - Percentage of Net Assets:** 1.4500%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2031-04-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Standard and Poors Long: A
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 37: ADAMS & ARAPAHOE CNTYS CO JT S

- **C.1 - Title:** Adams & Arapahoe Counties, Colorado, General Obligation, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 0054824F8, C.4 - ISIN: US0054824F85, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3006387.30
- **C.18.a - Value (excl. sponsor support):** $3006387.30
- **C.19 - Percentage of Net Assets:** 0.8500%
- **C.17 - Yield as of Reporting Date:** 3.0300%
- **C.11 - Maturity Date (WAM):** 2025-12-01
- **C.12 - Maturity Date (WAL):** 2025-12-01
- **C.13 - Final Legal Maturity Date:** 2025-12-01
- **C.10 - Ratings:** Moodys Long: Aa1; Standard and Poors Long: AA
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 38: PHOEBUS SQUARE LP

- **C.1 - Title:** Portsmouth Redevelopment & Housing Authority, Phoebus Square Apartments, Series 2008
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 737257CT0, C.4 - ISIN: US737257CT02, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $7200000.00
- **C.18.a - Value (excl. sponsor support):** $7200000.00
- **C.19 - Percentage of Net Assets:** 2.0400%
- **C.17 - Yield as of Reporting Date:** 3.3200%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2048-04-01
- **C.10 - Ratings:** Standard and Poors Long: AA+; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 39: HOWARD HUGHES MEDICAL CENTER

- **C.1 - Title:** Industrial Development Authority of Loudoun County, Virginia, Howard Hughes Medical Institute Issue, Series 2003E
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 545910AJ0, C.4 - ISIN: US545910AJ02, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $19960000.00
- **C.18.a - Value (excl. sponsor support):** $19960000.00
- **C.19 - Percentage of Net Assets:** 5.6600%
- **C.17 - Yield as of Reporting Date:** 3.2000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2038-02-15
- **C.10 - Ratings:** Moodys Long: Aaa; Moodys Short: VMIG1; Standard and Poors Short: A-1+; Standard and Poors Long: AAA
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 40: TEXAS A&M UNIVERSITY

- **C.1 - Title:** Texas A&M University, Series B
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 88212L4V1, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14999830.50
- **C.18.a - Value (excl. sponsor support):** $14999830.50
- **C.19 - Percentage of Net Assets:** 4.2500%
- **C.17 - Yield as of Reporting Date:** 2.5800%
- **C.11 - Maturity Date (WAM):** 2025-12-23
- **C.12 - Maturity Date (WAL):** 2025-12-23
- **C.13 - Final Legal Maturity Date:** 2025-12-23
- **C.10 - Ratings:** Moodys Short: P-1; Standard and Poors Short: A-1+; Fitch Short: F1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 41: LATIN SCHOOL OF CHICAGO

- **C.1 - Title:** Illinois Finance Authority, The Latin School of Chicago Project, Series 2005A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200BVC9, C.4 - ISIN: US45200BVC98, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $3160000.00
- **C.18.a - Value (excl. sponsor support):** $3160000.00
- **C.19 - Percentage of Net Assets:** 0.9000%
- **C.17 - Yield as of Reporting Date:** 3.3500%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2028-08-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa2
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 42: CLARK CNTY NV ARPT REVENUE

- **C.1 - Title:** Clark County, Nevada Airport System, Series 2008D-2A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 18085PMX9, C.4 - ISIN: US18085PMX95, C.3 - LEI: 549300LDD8NZB2EOVG83
- **C.18 - Value (incl. sponsor support):** $9450000.00
- **C.18.a - Value (excl. sponsor support):** $9450000.00
- **C.19 - Percentage of Net Assets:** 2.6800%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **C.11 - Maturity Date (WAM):** 2025-11-07
- **C.12 - Maturity Date (WAL):** 2025-11-07
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Fitch Long: AA-; Moodys Short: VMIG1; Standard and Poors Short: A-1; Standard and Poors Long: AA+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** First American Funds Trust

**Date:** 2025-11-07

**By:** Brent G. Smith

**Name of Signing Officer:** Brent G. Smith

**Title of Signing Officer:** Assistant Treasurer