# EDGAR Filing Document

**Accession Number:** 0001890141
**File Stem:** 0001752724-25-213420
**Filing Date:** 2025-9
**Character Count:** 74137
**Document Hash:** b9994e72e215643b53cd4a992406173f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-213420.hdr.sgml**: 20250908

**ACCESSION NUMBER**: 0001752724-25-213420

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20250908

**DATE AS OF CHANGE**: 20250908

**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:** 251300582

**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):** 2025-08-31

**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:** 29 days

- **WAL:** 29 days

- **Total Value of Portfolio Securities:** $364935154.31

- **Amortized Cost of Portfolio Securities:** $364867143.80

- **Cash:** $9159.52

- **Total Other Assets:** $1946146.80

- **Total Liabilities:** $4208453.71

- **Net Assets of Series:** $362682006.92

- **Number of Shares Outstanding (Series):** 362589377.1400

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2025-08-01 | $35861784.95              | $273706784.95              | 9.5000%                   | 72.4000%                   |
| 2025-08-04 | $36668316.91              | $275118316.91              | 9.7000%                   | 72.5000%                   |
| 2025-08-05 | $38866568.25              | $277316568.25              | 10.2000%                  | 72.6000%                   |
| 2025-08-06 | $39967127.13              | $278917127.13              | 10.4000%                  | 72.8000%                   |
| 2025-08-07 | $38847764.14              | $277797764.14              | 10.2000%                  | 72.7000%                   |
| 2025-08-08 | $37232686.33              | $276182686.33              | 9.8000%                   | 72.5000%                   |
| 2025-08-11 | $37045468.56              | $275995468.56              | 9.7000%                   | 72.5000%                   |
| 2025-08-12 | $30228783.61              | $267743783.61              | 8.1000%                   | 71.9000%                   |
| 2025-08-13 | $29918549.28              | $272994079.01              | 8.0000%                   | 73.4000%                   |
| 2025-08-14 | $27756553.22              | $270831994.66              | 7.5000%                   | 73.2000%                   |
| 2025-08-15 | $32421442.58              | $274626307.64              | 8.7000%                   | 73.5000%                   |
| 2025-08-18 | $32771109.34              | $274967889.68              | 8.8000%                   | 73.5000%                   |
| 2025-08-19 | $25988624.06              | $265928312.54              | 7.1000%                   | 72.9000%                   |
| 2025-08-20 | $20428788.13              | $263098476.61              | 5.6000%                   | 72.7000%                   |
| 2025-08-21 | $21906258.03              | $260983095.05              | 6.1000%                   | 72.5000%                   |
| 2025-08-22 | $19657838.44              | $260369675.46              | 5.5000%                   | 72.5000%                   |
| 2025-08-25 | $19654743.82              | $266676580.84              | 5.4000%                   | 72.9000%                   |
| 2025-08-26 | $17887368.67              | $262284205.69              | 5.0000%                   | 72.6000%                   |
| 2025-08-27 | $28219459.06              | $263034459.06              | 7.8000%                   | 72.6000%                   |
| 2025-08-28 | $30819174.34              | $265634174.34              | 8.4000%                   | 72.8000%                   |
| 2025-08-29 | $27627941.92              | $260817941.92              | 7.5000%                   | 71.1000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-08-01 | 2.6400%             |
| 2025-08-04 | 2.5700%             |
| 2025-08-05 | 2.4900%             |
| 2025-08-06 | 2.4200%             |
| 2025-08-07 | 2.3500%             |
| 2025-08-08 | 2.2100%             |
| 2025-08-11 | 2.1800%             |
| 2025-08-12 | 2.1500%             |
| 2025-08-13 | 2.2000%             |
| 2025-08-14 | 2.3100%             |
| 2025-08-15 | 2.6200%             |
| 2025-08-18 | 2.7200%             |
| 2025-08-19 | 2.8200%             |
| 2025-08-20 | 2.8700%             |
| 2025-08-21 | 2.8700%             |
| 2025-08-22 | 2.8700%             |
| 2025-08-25 | 2.8700%             |
| 2025-08-26 | 2.8700%             |
| 2025-08-27 | 2.8700%             |
| 2025-08-28 | 2.8700%             |
| 2025-08-29 | 2.9000%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-08-01 | 1.0002                      |
|  |  |
| 2025-08-04 | 1.0002                      |
|  |  |
| 2025-08-05 | 1.0003                      |
|  |  |
| 2025-08-06 | 1.0003                      |
|  |  |
| 2025-08-07 | 1.0003                      |
|  |  |
| 2025-08-08 | 1.0003                      |
|  |  |
| 2025-08-11 | 1.0003                      |
|  |  |
| 2025-08-12 | 1.0003                      |
|  |  |
| 2025-08-13 | 1.0003                      |
|  |  |
| 2025-08-14 | 1.0003                      |
|  |  |
| 2025-08-15 | 1.0003                      |
|  |  |
| 2025-08-18 | 1.0003                      |
|  |  |
| 2025-08-19 | 1.0003                      |
|  |  |
| 2025-08-20 | 1.0003                      |
|  |  |
| 2025-08-21 | 1.0003                      |
|  |  |
| 2025-08-22 | 1.0003                      |
|  |  |
| 2025-08-25 | 1.0003                      |
|  |  |
| 2025-08-26 | 1.0003                      |
|  |  |
| 2025-08-27 | 1.0003                      |
|  |  |
| 2025-08-28 | 1.0003                      |
|  |  |
| 2025-08-29 | 1.0003                      |
|  |  |

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

### Class: Class Y

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $15959759.25

- **Number of Shares Outstanding:** 15949036.3300

- **Expense Reimbursement/Waiver:** 1500.43

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 1.0006          |
|  |  |
| 2025-08-04 | 1.0006          |
|  |  |
| 2025-08-05 | 1.0006          |
|  |  |
| 2025-08-06 | 1.0006          |
|  |  |
| 2025-08-07 | 1.0006          |
|  |  |
| 2025-08-08 | 1.0007          |
|  |  |
| 2025-08-11 | 1.0007          |
|  |  |
| 2025-08-12 | 1.0007          |
|  |  |
| 2025-08-13 | 1.0007          |
|  |  |
| 2025-08-14 | 1.0007          |
|  |  |
| 2025-08-15 | 1.0007          |
|  |  |
| 2025-08-18 | 1.0007          |
|  |  |
| 2025-08-19 | 1.0007          |
|  |  |
| 2025-08-20 | 1.0007          |
|  |  |
| 2025-08-21 | 1.0007          |
|  |  |
| 2025-08-22 | 1.0007          |
|  |  |
| 2025-08-25 | 1.0007          |
|  |  |
| 2025-08-26 | 1.0007          |
|  |  |
| 2025-08-27 | 1.0007          |
|  |  |
| 2025-08-28 | 1.0007          |
|  |  |
| 2025-08-29 | 1.0007          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $1742116.65               | $0.00                   |
| 2025-08-04 | $356.16                   | $409563.01              |
| 2025-08-05 | $0.00                     | $109908.40              |
| 2025-08-06 | $17819.20                 | $0.00                   |
| 2025-08-07 | $190144.33                | $29754.25               |
| 2025-08-08 | $0.00                     | $258496.04              |
| 2025-08-11 | $54098.49                 | $0.00                   |
| 2025-08-12 | $0.00                     | $1159425.85             |
| 2025-08-13 | $38536.94                 | $0.00                   |
| 2025-08-14 | $93.36                    | $391353.48              |
| 2025-08-15 | $917466.12                | $0.00                   |
| 2025-08-18 | $0.00                     | $987218.54              |
| 2025-08-19 | $0.00                     | $485783.63              |
| 2025-08-20 | $587.37                   | $337072.70              |
| 2025-08-21 | $4265.86                  | $0.00                   |
| 2025-08-22 | $0.00                     | $34171.90               |
| 2025-08-25 | $915.06                   | $14354.89               |
| 2025-08-26 | $260.11                   | $7999.71                |
| 2025-08-27 | $0.00                     | $71352.03               |
| 2025-08-28 | $954075.83                | $4962.89                |
| 2025-08-29 | $91394.56                 | $0.00                   |

**Total Gross Subscriptions (Month):** $4012130.04

**Total Gross Redemptions (Month):** $4301417.32

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 2.1900%           |
| 2025-08-04 | 2.1200%           |
| 2025-08-05 | 2.0400%           |
| 2025-08-06 | 1.9700%           |
| 2025-08-07 | 1.9000%           |
| 2025-08-08 | 1.7600%           |
| 2025-08-11 | 1.7300%           |
| 2025-08-12 | 1.7000%           |
| 2025-08-13 | 1.7500%           |
| 2025-08-14 | 1.8600%           |
| 2025-08-15 | 2.1700%           |
| 2025-08-18 | 2.2700%           |
| 2025-08-19 | 2.3700%           |
| 2025-08-20 | 2.4200%           |
| 2025-08-21 | 2.4200%           |
| 2025-08-22 | 2.4200%           |
| 2025-08-25 | 2.4200%           |
| 2025-08-26 | 2.4200%           |
| 2025-08-27 | 2.4200%           |
| 2025-08-28 | 2.4200%           |
| 2025-08-29 | 2.4500%           |

**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:** $309912462.76

- **Number of Shares Outstanding:** 309861101.6200

- **Expense Reimbursement/Waiver:** 29133.97

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 1.0002          |
|  |  |
| 2025-08-04 | 1.0002          |
|  |  |
| 2025-08-05 | 1.0002          |
|  |  |
| 2025-08-06 | 1.0002          |
|  |  |
| 2025-08-07 | 1.0002          |
|  |  |
| 2025-08-08 | 1.0002          |
|  |  |
| 2025-08-11 | 1.0002          |
|  |  |
| 2025-08-12 | 1.0002          |
|  |  |
| 2025-08-13 | 1.0002          |
|  |  |
| 2025-08-14 | 1.0002          |
|  |  |
| 2025-08-15 | 1.0002          |
|  |  |
| 2025-08-18 | 1.0002          |
|  |  |
| 2025-08-19 | 1.0002          |
|  |  |
| 2025-08-20 | 1.0002          |
|  |  |
| 2025-08-21 | 1.0002          |
|  |  |
| 2025-08-22 | 1.0002          |
|  |  |
| 2025-08-25 | 1.0002          |
|  |  |
| 2025-08-26 | 1.0002          |
|  |  |
| 2025-08-27 | 1.0002          |
|  |  |
| 2025-08-28 | 1.0002          |
|  |  |
| 2025-08-29 | 1.0002          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $5069148.00               | $742520.40              |
| 2025-08-04 | $1778265.93               | $0.00                   |
| 2025-08-05 | $2480679.72               | $122646.38              |
| 2025-08-06 | $1750937.94               | $28512.76               |
| 2025-08-07 | $378595.57                | $1583346.51             |
| 2025-08-08 | $0.00                     | $1361614.54             |
| 2025-08-11 | $0.00                     | $262256.10              |
| 2025-08-12 | $9313.35                  | $7510148.40             |
| 2025-08-13 | $7056.00                  | $335592.88              |
| 2025-08-14 | $0.00                     | $1854260.05             |
| 2025-08-15 | $3131639.87               | $0.00                   |
| 2025-08-18 | $2612433.12               | $1466839.28             |
| 2025-08-19 | $0.00                     | $8460264.90             |
| 2025-08-20 | $3453.96                  | $2720525.82             |
| 2025-08-21 | $81742.42                 | $2270420.27             |
| 2025-08-22 | $239628.53                | $790381.04              |
| 2025-08-25 | $6361480.38               | $0.00                   |
| 2025-08-26 | $0.00                     | $4339049.69             |
| 2025-08-27 | $1770935.81               | $777758.54              |
| 2025-08-28 | $2161209.14               | $448296.10              |
| 2025-08-29 | $0.00                     | $1523131.36             |

**Total Gross Subscriptions (Month):** $27836519.74

**Total Gross Redemptions (Month):** $36597565.02

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 2.4400%           |
| 2025-08-04 | 2.3700%           |
| 2025-08-05 | 2.2900%           |
| 2025-08-06 | 2.2200%           |
| 2025-08-07 | 2.1500%           |
| 2025-08-08 | 2.0100%           |
| 2025-08-11 | 1.9800%           |
| 2025-08-12 | 1.9500%           |
| 2025-08-13 | 2.0000%           |
| 2025-08-14 | 2.1100%           |
| 2025-08-15 | 2.4200%           |
| 2025-08-18 | 2.5200%           |
| 2025-08-19 | 2.6200%           |
| 2025-08-20 | 2.6700%           |
| 2025-08-21 | 2.6700%           |
| 2025-08-22 | 2.6700%           |
| 2025-08-25 | 2.6700%           |
| 2025-08-26 | 2.6700%           |
| 2025-08-27 | 2.6700%           |
| 2025-08-28 | 2.6700%           |
| 2025-08-29 | 2.7000%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.4700%         | 0.0000%              |

### Class: Class T

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $7314894.70

- **Number of Shares Outstanding:** 7292009.4000

- **Expense Reimbursement/Waiver:** 679.87

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 1.0031          |
|  |  |
| 2025-08-04 | 1.0031          |
|  |  |
| 2025-08-05 | 1.0031          |
|  |  |
| 2025-08-06 | 1.0031          |
|  |  |
| 2025-08-07 | 1.0031          |
|  |  |
| 2025-08-08 | 1.0031          |
|  |  |
| 2025-08-11 | 1.0031          |
|  |  |
| 2025-08-12 | 1.0031          |
|  |  |
| 2025-08-13 | 1.0031          |
|  |  |
| 2025-08-14 | 1.0031          |
|  |  |
| 2025-08-15 | 1.0031          |
|  |  |
| 2025-08-18 | 1.0031          |
|  |  |
| 2025-08-19 | 1.0031          |
|  |  |
| 2025-08-20 | 1.0031          |
|  |  |
| 2025-08-21 | 1.0031          |
|  |  |
| 2025-08-22 | 1.0031          |
|  |  |
| 2025-08-25 | 1.0031          |
|  |  |
| 2025-08-26 | 1.0031          |
|  |  |
| 2025-08-27 | 1.0031          |
|  |  |
| 2025-08-28 | 1.0031          |
|  |  |
| 2025-08-29 | 1.0031          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $1857.67                  | $0.00                   |
| 2025-08-04 | $20333.26                 | $0.00                   |
| 2025-08-05 | $0.00                     | $0.00                   |
| 2025-08-06 | $0.00                     | $0.00                   |
| 2025-08-07 | $0.00                     | $40590.61               |
| 2025-08-08 | $0.00                     | $0.00                   |
| 2025-08-11 | $0.00                     | $0.00                   |
| 2025-08-12 | $0.00                     | $0.00                   |
| 2025-08-13 | $0.00                     | $0.00                   |
| 2025-08-14 | $312.00                   | $0.00                   |
| 2025-08-15 | $0.00                     | $0.00                   |
| 2025-08-18 | $0.00                     | $0.00                   |
| 2025-08-19 | $0.00                     | $77072.43               |
| 2025-08-20 | $0.00                     | $683.15                 |
| 2025-08-21 | $0.00                     | $0.00                   |
| 2025-08-22 | $6.00                     | $0.00                   |
| 2025-08-25 | $0.00                     | $0.00                   |
| 2025-08-26 | $0.00                     | $40831.69               |
| 2025-08-27 | $0.00                     | $0.00                   |
| 2025-08-28 | $1.99                     | $0.00                   |
| 2025-08-29 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $22510.92

**Total Gross Redemptions (Month):** $159177.88

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 2.2400%           |
| 2025-08-04 | 2.1700%           |
| 2025-08-05 | 2.1000%           |
| 2025-08-06 | 2.0200%           |
| 2025-08-07 | 1.9600%           |
| 2025-08-08 | 1.8200%           |
| 2025-08-11 | 1.7900%           |
| 2025-08-12 | 1.7600%           |
| 2025-08-13 | 1.8100%           |
| 2025-08-14 | 1.9200%           |
| 2025-08-15 | 2.2300%           |
| 2025-08-18 | 2.3300%           |
| 2025-08-19 | 2.4200%           |
| 2025-08-20 | 2.4700%           |
| 2025-08-21 | 2.4700%           |
| 2025-08-22 | 2.4700%           |
| 2025-08-25 | 2.4700%           |
| 2025-08-26 | 2.4800%           |
| 2025-08-27 | 2.4800%           |
| 2025-08-28 | 2.4800%           |
| 2025-08-29 | 2.5000%           |

**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:** $29466465.22

- **Number of Shares Outstanding:** 29458793.1800

- **Expense Reimbursement/Waiver:** 2657.14

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 1.0002          |
|  |  |
| 2025-08-04 | 1.0002          |
|  |  |
| 2025-08-05 | 1.0003          |
|  |  |
| 2025-08-06 | 1.0003          |
|  |  |
| 2025-08-07 | 1.0003          |
|  |  |
| 2025-08-08 | 1.0003          |
|  |  |
| 2025-08-11 | 1.0003          |
|  |  |
| 2025-08-12 | 1.0003          |
|  |  |
| 2025-08-13 | 1.0003          |
|  |  |
| 2025-08-14 | 1.0003          |
|  |  |
| 2025-08-15 | 1.0003          |
|  |  |
| 2025-08-18 | 1.0003          |
|  |  |
| 2025-08-19 | 1.0003          |
|  |  |
| 2025-08-20 | 1.0003          |
|  |  |
| 2025-08-21 | 1.0003          |
|  |  |
| 2025-08-22 | 1.0003          |
|  |  |
| 2025-08-25 | 1.0003          |
|  |  |
| 2025-08-26 | 1.0003          |
|  |  |
| 2025-08-27 | 1.0003          |
|  |  |
| 2025-08-28 | 1.0003          |
|  |  |
| 2025-08-29 | 1.0003          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $391673.07                | $0.00                   |
| 2025-08-04 | $27335.53                 | $3976.55                |
| 2025-08-05 | $25452.34                 | $38000.00               |
| 2025-08-06 | $2770.91                  | $177879.40              |
| 2025-08-07 | $0.00                     | $34632.56               |
| 2025-08-08 | $5803.37                  | $1203.00                |
| 2025-08-11 | $40714.88                 | $13623.52               |
| 2025-08-12 | $405184.10                | $1532.92                |
| 2025-08-13 | $855.00                   | $21104.81               |
| 2025-08-14 | $128614.89                | $45182.83               |
| 2025-08-15 | $201113.74                | $574781.29              |
| 2025-08-18 | $193548.15                | $9874.54                |
| 2025-08-19 | $0.00                     | $25237.24               |
| 2025-08-20 | $7325.22                  | $922.03                 |
| 2025-08-21 | $49420.00                 | $0.00                   |
| 2025-08-22 | $8.00                     | $24820.88               |
| 2025-08-25 | $78632.32                 | $110510.31              |
| 2025-08-26 | $1221.23                  | $9224.62                |
| 2025-08-27 | $46448.65                 | $216747.57              |
| 2025-08-28 | $1441.00                  | $32881.69               |
| 2025-08-29 | $0.00                     | $10986.40               |

**Total Gross Subscriptions (Month):** $1607562.40

**Total Gross Redemptions (Month):** $1353122.16

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 1.8900%           |
| 2025-08-04 | 1.8200%           |
| 2025-08-05 | 1.7400%           |
| 2025-08-06 | 1.6700%           |
| 2025-08-07 | 1.6000%           |
| 2025-08-08 | 1.4600%           |
| 2025-08-11 | 1.4300%           |
| 2025-08-12 | 1.4000%           |
| 2025-08-13 | 1.4500%           |
| 2025-08-14 | 1.5600%           |
| 2025-08-15 | 1.8700%           |
| 2025-08-18 | 1.9700%           |
| 2025-08-19 | 2.0700%           |
| 2025-08-20 | 2.1200%           |
| 2025-08-21 | 2.1200%           |
| 2025-08-22 | 2.1200%           |
| 2025-08-25 | 2.1200%           |
| 2025-08-26 | 2.1200%           |
| 2025-08-27 | 2.1200%           |
| 2025-08-28 | 2.1200%           |
| 2025-08-29 | 2.1500%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 76.1400%         | 0.0000%              |

### Class: Class V

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $28424.99

- **Number of Shares Outstanding:** 28436.6100

- **Expense Reimbursement/Waiver:** 2.68

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 0.9995          |
|  |  |
| 2025-08-04 | 0.9995          |
|  |  |
| 2025-08-05 | 0.9996          |
|  |  |
| 2025-08-06 | 0.9996          |
|  |  |
| 2025-08-07 | 0.9996          |
|  |  |
| 2025-08-08 | 0.9996          |
|  |  |
| 2025-08-11 | 0.9996          |
|  |  |
| 2025-08-12 | 0.9996          |
|  |  |
| 2025-08-13 | 0.9996          |
|  |  |
| 2025-08-14 | 0.9996          |
|  |  |
| 2025-08-15 | 0.9996          |
|  |  |
| 2025-08-18 | 0.9996          |
|  |  |
| 2025-08-19 | 0.9996          |
|  |  |
| 2025-08-20 | 0.9996          |
|  |  |
| 2025-08-21 | 0.9996          |
|  |  |
| 2025-08-22 | 0.9996          |
|  |  |
| 2025-08-25 | 0.9996          |
|  |  |
| 2025-08-26 | 0.9996          |
|  |  |
| 2025-08-27 | 0.9996          |
|  |  |
| 2025-08-28 | 0.9996          |
|  |  |
| 2025-08-29 | 0.9996          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $1318.46                  | $0.00                   |
| 2025-08-04 | $137.55                   | $0.00                   |
| 2025-08-05 | $146.77                   | $0.00                   |
| 2025-08-06 | $0.00                     | $0.00                   |
| 2025-08-07 | $0.00                     | $0.00                   |
| 2025-08-08 | $0.00                     | $0.00                   |
| 2025-08-11 | $0.00                     | $0.00                   |
| 2025-08-12 | $0.00                     | $0.00                   |
| 2025-08-13 | $0.00                     | $0.00                   |
| 2025-08-14 | $0.00                     | $0.00                   |
| 2025-08-15 | $1298.61                  | $0.00                   |
| 2025-08-18 | $0.00                     | $0.00                   |
| 2025-08-19 | $0.00                     | $0.00                   |
| 2025-08-20 | $0.00                     | $0.00                   |
| 2025-08-21 | $0.00                     | $0.00                   |
| 2025-08-22 | $291.20                   | $0.00                   |
| 2025-08-25 | $0.00                     | $116.66                 |
| 2025-08-26 | $0.00                     | $0.00                   |
| 2025-08-27 | $0.00                     | $0.00                   |
| 2025-08-28 | $0.00                     | $0.00                   |
| 2025-08-29 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $3192.59

**Total Gross Redemptions (Month):** $116.66

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 2.3300%           |
| 2025-08-04 | 2.2600%           |
| 2025-08-05 | 2.1900%           |
| 2025-08-06 | 2.1100%           |
| 2025-08-07 | 2.0500%           |
| 2025-08-08 | 1.9100%           |
| 2025-08-11 | 1.8800%           |
| 2025-08-12 | 1.8500%           |
| 2025-08-13 | 1.9000%           |
| 2025-08-14 | 2.0200%           |
| 2025-08-15 | 2.3200%           |
| 2025-08-18 | 2.4200%           |
| 2025-08-19 | 2.5200%           |
| 2025-08-20 | 2.5700%           |
| 2025-08-21 | 2.5700%           |
| 2025-08-22 | 2.5700%           |
| 2025-08-25 | 2.5700%           |
| 2025-08-26 | 2.5700%           |
| 2025-08-27 | 2.5700%           |
| 2025-08-28 | 2.5700%           |
| 2025-08-29 | 2.5900%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 96.4500%         | 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:** 3.6400%
- **C.17 - Yield as of Reporting Date:** 2.8000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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: 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: 88212L4P4, C.4 - ISIN: US88212L4P43, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14999713.50
- **C.18.a - Value (excl. sponsor support):** $14999713.50
- **C.19 - Percentage of Net Assets:** 4.1400%
- **C.17 - Yield as of Reporting Date:** 3.1700%
- **C.11 - Maturity Date (WAM):** 2025-09-18
- **C.12 - Maturity Date (WAL):** 2025-09-18
- **C.13 - Final Legal Maturity Date:** 2025-09-18
- **C.10 - Ratings:** Moodys Short: P-1; Fitch Short: F1+; Standard and Poors Short: A-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 3: 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:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 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:** 1.6500%
- **C.17 - Yield as of Reporting Date:** 2.9800%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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):** $8855803.25
- **C.18.a - Value (excl. sponsor support):** $8855803.25
- **C.19 - Percentage of Net Assets:** 2.4400%
- **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: LUCAS CNTY OH

- **C.1 - Title:** County of Lucas, Ohio Various Purpose Improvements Notes, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 54930LUL7, C.4 - ISIN: US54930LUL79, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3907475.38
- **C.18.a - Value (excl. sponsor support):** $3907475.38
- **C.19 - Percentage of Net Assets:** 1.0800%
- **C.17 - Yield as of Reporting Date:** 3.0100%
- **C.11 - Maturity Date (WAM):** 2025-10-10
- **C.12 - Maturity Date (WAL):** 2025-10-10
- **C.13 - Final Legal Maturity Date:** 2025-10-10
- **C.10 - Ratings:** Moodys Short: MIG1; 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 7: ST LOUIS UNIVERSITY

- **C.1 - Title:** Missouri Health and Educational Facilities Authority, Saint Louis University, Series 2008B-2
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 6069014P8, C.4 - ISIN: US6069014P85, C.3 - LEI: 549300IWTBCMX5JB3277
- **C.18 - Value (incl. sponsor support):** $1040000.00
- **C.18.a - Value (excl. sponsor support):** $1040000.00
- **C.19 - Percentage of Net Assets:** 0.2900%
- **C.17 - Yield as of Reporting Date:** 3.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2035-10-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Moodys Long: Aa1; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 8: 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):** $17820000.00
- **C.18.a - Value (excl. sponsor support):** $17820000.00
- **C.19 - Percentage of Net Assets:** 4.9100%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 9: 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):** $3011555.70
- **C.18.a - Value (excl. sponsor support):** $3011555.70
- **C.19 - Percentage of Net Assets:** 0.8300%
- **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 10: NEW ALBANY OH

- **C.1 - Title:** City of New Albany, Ohio Capital Facilities,  General Oblication, 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):** $3376030.51
- **C.18.a - Value (excl. sponsor support):** $3376030.51
- **C.19 - Percentage of Net Assets:** 0.9300%
- **C.17 - Yield as of Reporting Date:** 2.6500%
- **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 11: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2010F
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABW3, C.4 - ISIN: US60528ABW36, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $7175000.00
- **C.18.a - Value (excl. sponsor support):** $7175000.00
- **C.19 - Percentage of Net Assets:** 1.9800%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Short: VMIG1; 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? 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: LAKE CNTY OH

- **C.1 - Title:** County of Lake, Ohio, General Obligation Note, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 5094266D9, C.4 - ISIN: US5094266D91, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5003213.00
- **C.18.a - Value (excl. sponsor support):** $5003213.00
- **C.19 - Percentage of Net Assets:** 1.3800%
- **C.17 - Yield as of Reporting Date:** 3.1800%
- **C.11 - Maturity Date (WAM):** 2025-09-24
- **C.12 - Maturity Date (WAL):** 2025-09-24
- **C.13 - Final Legal Maturity Date:** 2025-09-24
- **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 13: 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:** 3.3100%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 14: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2009F
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABN3, C.4 - ISIN: US60528ABN37, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $2275000.00
- **C.18.a - Value (excl. sponsor support):** $2275000.00
- **C.19 - Percentage of Net Assets:** 0.6300%
- **C.17 - Yield as of Reporting Date:** 3.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: VMIG1; 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 15: 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:** 3.3400%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 16: 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:** 4.1300%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 17: 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):** $4113872.35
- **C.18.a - Value (excl. sponsor support):** $4113872.35
- **C.19 - Percentage of Net Assets:** 1.1300%
- **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 18: 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:** 2.0800%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 19: 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:** 4.7200%
- **C.17 - Yield as of Reporting Date:** 2.7600%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 20: 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:** 1.3800%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 21: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2009A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABH6, C.4 - ISIN: US60528ABH68, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $2825000.00
- **C.18.a - Value (excl. sponsor support):** $2825000.00
- **C.19 - Percentage of Net Assets:** 0.7800%
- **C.17 - Yield as of Reporting Date:** 3.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: VMIG1; Standard and Poors Long: AA-; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: METHODIST HOSPS DALLAS OB

- **C.1 - Title:** Tarrant County Cultural Education Facilities Finance Corp, Methodist Hospitals of Dallas, Series 2008A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 87638QBE8, C.4 - ISIN: US87638QBE89, C.3 - LEI: MLU0ZO3ML4LN2LL2TL39
- **C.18 - Value (incl. sponsor support):** $1190000.00
- **C.18.a - Value (excl. sponsor support):** $1190000.00
- **C.19 - Percentage of Net Assets:** 0.3300%
- **C.17 - Yield as of Reporting Date:** 3.8500%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2041-10-01
- **C.10 - Ratings:** Moodys Long: Aa1; Standard and Poors Long: AA+; 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 23: MEDICAL COLLEGE OF WI

- **C.1 - Title:** Wisconsin Health and Educational Facilities Authority, The Medical College fo Wisconsin, Inc., Series 2008B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 97710BDK5, C.4 - ISIN: US97710BDK52, C.3 - LEI: 549300ISNGXS0VHGVD41
- **C.18 - Value (incl. sponsor support):** $750000.00
- **C.18.a - Value (excl. sponsor support):** $750000.00
- **C.19 - Percentage of Net Assets:** 0.2100%
- **C.17 - Yield as of Reporting Date:** 3.9000%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2033-12-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Moodys Short: VMIG1; Moodys Long: Aa1; 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 24: 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):** $9002310.30
- **C.18.a - Value (excl. sponsor support):** $9002310.30
- **C.19 - Percentage of Net Assets:** 2.4800%
- **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? No, C.23 Categorized at Level 3? No

### Security 25: 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):** $10000000.00
- **C.18.a - Value (excl. sponsor support):** $10000000.00
- **C.19 - Percentage of Net Assets:** 2.7600%
- **C.17 - Yield as of Reporting Date:** 2.6500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 26: 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):** $4333901.76
- **C.18.a - Value (excl. sponsor support):** $4333901.76
- **C.19 - Percentage of Net Assets:** 1.2000%
- **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 27: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron 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):** $4850000.00
- **C.18.a - Value (excl. sponsor support):** $4850000.00
- **C.19 - Percentage of Net Assets:** 1.3400%
- **C.17 - Yield as of Reporting Date:** 3.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **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 28: 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):** $15250000.00
- **C.18.a - Value (excl. sponsor support):** $15250000.00
- **C.19 - Percentage of Net Assets:** 4.2100%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 29: 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:** 2.6500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 30: ASPIRUS INC OBL GROUP

- **C.1 - Title:** Wisconsin Health and Educational Facilities Authority, Aspirus Wasau 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:** 2.6800%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 31: 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:** 4.9300%
- **C.17 - Yield as of Reporting Date:** 3.9500%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **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 32: 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:** 5.2400%
- **C.17 - Yield as of Reporting Date:** 2.8300%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 33: 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: 49476VJC8, C.4 - ISIN: US49476VJC81, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $10000564.00
- **C.18.a - Value (excl. sponsor support):** $10000564.00
- **C.19 - Percentage of Net Assets:** 2.7600%
- **C.17 - Yield as of Reporting Date:** 2.9300%
- **C.11 - Maturity Date (WAM):** 2025-09-09
- **C.12 - Maturity Date (WAL):** 2025-09-09
- **C.13 - Final Legal Maturity Date:** 2025-09-09
- **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 34: DELAWARE OH

- **C.1 - Title:** City of Delaware, Ohio, Fire Station & Land Acquistion
- **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):** $5024142.50
- **C.18.a - Value (excl. sponsor support):** $5024142.50
- **C.19 - Percentage of Net Assets:** 1.3900%
- **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 35: UNIVERSITY OF MINNESOTA

- **C.1 - Title:** University of Michigan, Series D
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91447AHQ3, C.4 - ISIN: US91447AHQ31, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $11979161.85
- **C.18.a - Value (excl. sponsor support):** $11979161.85
- **C.19 - Percentage of Net Assets:** 3.3000%
- **C.17 - Yield as of Reporting Date:** 2.8900%
- **C.11 - Maturity Date (WAM):** 2025-10-15
- **C.12 - Maturity Date (WAL):** 2025-10-15
- **C.13 - Final Legal Maturity Date:** 2025-10-15
- **C.10 - Ratings:** Moodys Short: P-1; Standard and Poors Short: A-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 36: 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):** $13003230.50
- **C.18.a - Value (excl. sponsor support):** $13003230.50
- **C.19 - Percentage of Net Assets:** 3.5900%
- **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 37: 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:** 2.7000%
- **C.17 - Yield as of Reporting Date:** 2.9000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 38: 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:** 2.7100%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 39: 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:** 1.4100%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 40: MARYLAND ST HLTH & HGR EDUCTNL

- **C.1 - Title:** Maryland Health and Higher Educational Facilities Authority, Series 1985B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 574215RD3, C.4 - ISIN: US574215RD35, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $1245000.00
- **C.18.a - Value (excl. sponsor support):** $1245000.00
- **C.19 - Percentage of Net Assets:** 0.3400%
- **C.17 - Yield as of Reporting Date:** 2.6500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **C.13 - Final Legal Maturity Date:** 2035-04-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: A1; 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 41: 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):** $3022763.10
- **C.18.a - Value (excl. sponsor support):** $3022763.10
- **C.19 - Percentage of Net Assets:** 0.8300%
- **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 42: 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:** 1.9900%
- **C.17 - Yield as of Reporting Date:** 2.8400%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 43: 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:** 5.5000%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 44: 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:** 0.8700%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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 45: WYOMING OH

- **C.1 - Title:** City of Wyoming, Ohio, General Obligation Note, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 983425FE4, C.4 - ISIN: US983425FE45, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $1301416.61
- **C.18.a - Value (excl. sponsor support):** $1301416.61
- **C.19 - Percentage of Net Assets:** 0.3600%
- **C.17 - Yield as of Reporting Date:** 3.2200%
- **C.11 - Maturity Date (WAM):** 2025-10-15
- **C.12 - Maturity Date (WAL):** 2025-10-15
- **C.13 - Final Legal Maturity Date:** 2025-10-15
- **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 46: 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:** 2.6100%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-09-05
- **C.12 - Maturity Date (WAL):** 2025-09-05
- **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:** 2025-09-08

**By:** Brent G. Smith

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

**Title of Signing Officer:** Assistant Treasurer