# EDGAR Filing Document

**Accession Number:** 0001403166
**File Stem:** 0001145549-25-046129
**Filing Date:** 2025-7
**Character Count:** 54609
**Document Hash:** c028f6a8fec14b85bae2d6ee42c4cac9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-046129.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001145549-25-046129

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Master Trust
- **CENTRAL INDEX KEY:** 0001403166

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22078
- **FILM NUMBER:** 251110738

**BUSINESS ADDRESS:**
- **STREET 1:** C/O UBS ASSET MANAGEMENT (AMERICAS) LLC.
- **STREET 2:** 787 SEVENTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-821-3000

**MAIL ADDRESS:**
- **STREET 1:** C/O UBS ASSET MANAGEMENT (AMERICAS) LLC.
- **STREET 2:** 787 SEVENTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Series and Classes Contracts Data

### Treasury Master Fund (Series ID: S000019503)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000054152 | Treasury Master Fund |  |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0001403166

### General Information

**Report for (YYYY-MM-DD):** 2025-06-30

**Registrant Full Name:** Master Trust

**CIK Number of Registrant:** 0001403166

**LEI of Registrant:** 549300EBIIAXTNCMYQ69

**Name of Series:** Treasury Master Fund

**LEI of Series:** 549300XQ6V293JKF0677

**EDGAR Series Identifier:** S000019503

**Total number of share classes in the series:** 1

**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            | UBS ASSET MANAGEMENT (AMERICAS) LLC               | 801-34910         |
| Independent Public Accountant | Ernst & Young  LLP<br>City: New York<br>State: NY |  |
| Administrator                 | UBS ASSET MANAGEMENT (AMERICAS) LLC               |  |
| Transfer Agent                | None<br>CIK: —                                    |  |

### Fund Characteristics & Assets

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

- **Is this a Master Fund?:** Yes

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

- **Money Market Fund Category:** Government

- **Is this a Retail Money Market Fund?:** No

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

- **WAM:** 19 days

- **WAL:** 86 days

- **Total Value of Portfolio Securities:** $43955206667.36

- **Amortized Cost of Portfolio Securities:** $43950175453.60

- **Cash:** $2723464707.85

- **Total Other Assets:** $94278800.75

- **Total Liabilities:** $466295136.10

- **Net Assets of Series:** $46301623826.10

- **Number of Shares Outstanding (Series):** 0.0000

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2025-06-02 | $44277021600.01           | $45277021600.01            | 97.6700%                  | 99.8800%                   |
| 2025-06-03 | $43838139039.24           | $44838139039.24            | 97.6500%                  | 99.8800%                   |
| 2025-06-04 | $43728586929.14           | $44728586929.14            | 97.6400%                  | 99.8700%                   |
| 2025-06-05 | $44027539093.24           | $45027539093.24            | 97.6500%                  | 99.8600%                   |
| 2025-06-06 | $43550162165.56           | $44550162165.56            | 97.6000%                  | 99.8400%                   |
| 2025-06-09 | $43117217873.32           | $44117217873.32            | 97.5800%                  | 99.8500%                   |
| 2025-06-10 | $43594876404.37           | $44594876404.37            | 97.6100%                  | 99.8500%                   |
| 2025-06-11 | $43556589437.46           | $44556589437.46            | 97.6000%                  | 99.8400%                   |
| 2025-06-12 | $43362005263.51           | $44362005263.51            | 97.5900%                  | 99.8400%                   |
| 2025-06-13 | $43693285316.93           | $44693285316.93            | 97.5800%                  | 99.8200%                   |
| 2025-06-16 | $43745500399.62           | $44745500399.62            | 97.6000%                  | 99.8300%                   |
| 2025-06-17 | $43807269303.51           | $44807269303.51            | 97.6000%                  | 99.8300%                   |
| 2025-06-18 | $44306818528.98           | $44306818528.98            | 99.8100%                  | 99.8100%                   |
| 2025-06-20 | $43448251734.09           | $43448251734.09            | 97.5600%                  | 97.5600%                   |
| 2025-06-23 | $43414318083.02           | $44414318083.02            | 97.5700%                  | 99.8200%                   |
| 2025-06-24 | $43383212964.32           | $44383212964.32            | 97.5600%                  | 99.8100%                   |
| 2025-06-25 | $42777233307.49           | $43777233307.49            | 97.5300%                  | 99.8100%                   |
| 2025-06-26 | $43608242330.73           | $44608242330.73            | 97.5700%                  | 99.8000%                   |
| 2025-06-27 | $45902932157.55           | $46902932157.55            | 97.6600%                  | 99.7900%                   |
| 2025-06-30 | $45678671375.21           | $46678671375.21            | 97.6600%                  | 99.8000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-06-02 | 0.0000%             |
| 2025-06-03 | 0.0000%             |
| 2025-06-04 | 0.0000%             |
| 2025-06-05 | 0.0000%             |
| 2025-06-06 | 0.0000%             |
| 2025-06-09 | 0.0000%             |
| 2025-06-10 | 0.0000%             |
| 2025-06-11 | 0.0000%             |
| 2025-06-12 | 0.0000%             |
| 2025-06-13 | 0.0000%             |
| 2025-06-16 | 0.0000%             |
| 2025-06-17 | 0.0000%             |
| 2025-06-18 | 0.0000%             |
| 2025-06-20 | 0.0000%             |
| 2025-06-23 | 0.0000%             |
| 2025-06-24 | 0.0000%             |
| 2025-06-25 | 0.0000%             |
| 2025-06-26 | 0.0000%             |
| 2025-06-27 | 0.0000%             |
| 2025-06-30 | 0.0000%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-06-02 | 1.0001                      |
|  |  |
| 2025-06-03 | 1.0001                      |
|  |  |
| 2025-06-04 | 1.0001                      |
|  |  |
| 2025-06-05 | 1.0001                      |
|  |  |
| 2025-06-06 | 1.0001                      |
|  |  |
| 2025-06-09 | 1.0001                      |
|  |  |
| 2025-06-10 | 1.0001                      |
|  |  |
| 2025-06-11 | 1.0001                      |
|  |  |
| 2025-06-12 | 1.0001                      |
|  |  |
| 2025-06-13 | 1.0001                      |
|  |  |
| 2025-06-16 | 1.0001                      |
|  |  |
| 2025-06-17 | 1.0001                      |
|  |  |
| 2025-06-18 | 1.0001                      |
|  |  |
| 2025-06-20 | 1.0001                      |
|  |  |
| 2025-06-23 | 1.0001                      |
|  |  |
| 2025-06-24 | 1.0001                      |
|  |  |
| 2025-06-25 | 1.0001                      |
|  |  |
| 2025-06-26 | 1.0001                      |
|  |  |
| 2025-06-27 | 1.0001                      |
|  |  |
| 2025-06-30 | 1.0001                      |
|  |  |

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

### Class: Single Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $46301623826.10

- **Number of Shares Outstanding:** 0.0000

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 1.0001          |
|  |  |
| 2025-06-03 | 1.0001          |
|  |  |
| 2025-06-04 | 1.0001          |
|  |  |
| 2025-06-05 | 1.0001          |
|  |  |
| 2025-06-06 | 1.0001          |
|  |  |
| 2025-06-09 | 1.0001          |
|  |  |
| 2025-06-10 | 1.0001          |
|  |  |
| 2025-06-11 | 1.0001          |
|  |  |
| 2025-06-12 | 1.0001          |
|  |  |
| 2025-06-13 | 1.0001          |
|  |  |
| 2025-06-16 | 1.0001          |
|  |  |
| 2025-06-17 | 1.0001          |
|  |  |
| 2025-06-18 | 1.0001          |
|  |  |
| 2025-06-20 | 1.0001          |
|  |  |
| 2025-06-23 | 1.0001          |
|  |  |
| 2025-06-24 | 1.0001          |
|  |  |
| 2025-06-25 | 1.0001          |
|  |  |
| 2025-06-26 | 1.0001          |
|  |  |
| 2025-06-27 | 1.0001          |
|  |  |
| 2025-06-30 | 1.0001          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $0.00                     | $0.00                   |
| 2025-06-03 | $0.00                     | $0.00                   |
| 2025-06-04 | $0.00                     | $0.00                   |
| 2025-06-05 | $0.00                     | $0.00                   |
| 2025-06-06 | $0.00                     | $0.00                   |
| 2025-06-09 | $0.00                     | $0.00                   |
| 2025-06-10 | $0.00                     | $0.00                   |
| 2025-06-11 | $0.00                     | $0.00                   |
| 2025-06-12 | $0.00                     | $0.00                   |
| 2025-06-13 | $0.00                     | $0.00                   |
| 2025-06-16 | $0.00                     | $0.00                   |
| 2025-06-17 | $0.00                     | $0.00                   |
| 2025-06-18 | $0.00                     | $0.00                   |
| 2025-06-20 | $0.00                     | $0.00                   |
| 2025-06-23 | $0.00                     | $0.00                   |
| 2025-06-24 | $0.00                     | $0.00                   |
| 2025-06-25 | $0.00                     | $0.00                   |
| 2025-06-26 | $0.00                     | $0.00                   |
| 2025-06-27 | $0.00                     | $0.00                   |
| 2025-06-30 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $0.00

**Total Gross Redemptions (Month):** $0.00

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 0.0000%           |
| 2025-06-03 | 0.0000%           |
| 2025-06-04 | 0.0000%           |
| 2025-06-05 | 0.0000%           |
| 2025-06-06 | 0.0000%           |
| 2025-06-09 | 0.0000%           |
| 2025-06-10 | 0.0000%           |
| 2025-06-11 | 0.0000%           |
| 2025-06-12 | 0.0000%           |
| 2025-06-13 | 0.0000%           |
| 2025-06-16 | 0.0000%           |
| 2025-06-17 | 0.0000%           |
| 2025-06-18 | 0.0000%           |
| 2025-06-20 | 0.0000%           |
| 2025-06-23 | 0.0000%           |
| 2025-06-24 | 0.0000%           |
| 2025-06-25 | 0.0000%           |
| 2025-06-26 | 0.0000%           |
| 2025-06-27 | 0.0000%           |
| 2025-06-30 | 0.0000%           |

## Part C: Schedule of Portfolio Securities

### Security 1: Barclays Bank PLC Tri Party Repo

- **C.1 - Title:** Barclays Bank PLC Tri Party Repo 4.300000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 0673PA005, C.3 - LEI: G5GSEF7VJP5I7OUK5573, C.5 - Other ID: 0673PA005_4.30_0707
- **C.18 - Value (incl. sponsor support):** $1000000000.00
- **C.18.a - Value (excl. sponsor support):** $1000000000.00
- **C.19 - Percentage of Net Assets:** 2.1600%
- **C.17 - Yield as of Reporting Date:** 4.3000%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2025-07-31
- **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

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Note                 | 2026-10-31      | 4.4450%  | 0.0000% | $44267700.00       | $44645235.93       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-01-31      | 4.3750%  | 0.0000% | $800.00            | $831.32            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-03-31      | 4.1250%  | 0.0000% | $28800.00          | $29269.91          | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2026-02-15      | 0.0000%  | 0.0000% | $74791224.80       | $72979781.34       | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2027-02-15      | 0.0000%  | 0.0000% | $98733568.00       | $92901771.07       | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2028-05-15      | 0.0000%  | 0.0000% | $8247.69           | $7395.94           | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2029-08-15      | 0.0000%  | 0.0000% | $30.65             | $26.13             | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2040-05-15      | 0.0000%  | 0.0000% | $24.98             | $12.00             | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2042-05-15      | 0.0000%  | 0.0000% | $14608681.32       | $6241398.40        | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2050-02-15      | 0.0000%  | 0.0000% | $355431.52         | $101731.25         | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2042-08-15      | 0.0000%  | 0.0000% | $246.00            | $103.55            | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2034-08-15      | 0.0000%  | 0.0000% | $319.95            | $214.26            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-05-31      | 4.1250%  | 0.0000% | $416648000.00      | $420402476.79      | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2034-01-15      | 1.7500%  | 0.0000% | $1089400.00        | $1132536.97        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2029-11-30      | 3.8750%  | 0.0000% | $183500.00         | $184612.05         | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2027-10-15      | 1.6250%  | 0.0000% | $12827500.00       | $14092105.25       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2032-07-15      | 0.6250%  | 0.0000% | $13472300.00       | $13875712.71       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2026-04-15      | 0.1250%  | 0.0000% | $104988000.00      | $126944039.63      | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2026-01-15      | 0.6250%  | 0.0000% | $41826200.00       | $56275450.79       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Bond | 2049-02-15      | 1.0000%  | 0.0000% | $201700.00         | $185593.03         | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Bond | 2044-02-15      | 1.3750%  | 0.0000% | $24384000.00       | $28119839.24       | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2040-05-15      | 4.3750%  | 0.0000% | $86124800.00       | $83962443.12       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Bond | 2027-01-15      | 2.3750%  | 0.0000% | $34969200.00       | $57094279.62       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Bond | 2029-04-15      | 3.8750%  | 0.0000% | $73200.00          | $156840.88         | U.S. Treasuries (including strips) |
| US Treasury Strip Principal        | 2044-02-15      | 0.0000%  | 0.0000% | $1671300.00        | $666298.84         | U.S. Treasuries (including strips) |

### Security 2: Fixed Income Clearing Corp. - State Street Bank and Trust Co.

- **C.1 - Title:** Fixed Income Clearing Corp. State Street Bank and Trust Co. 4.400000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 85748R009, C.3 - LEI: N/A, C.5 - Other ID: 85748R009_4.40_0701
- **C.18 - Value (incl. sponsor support):** $18366000000.00
- **C.18.a - Value (excl. sponsor support):** $18366000000.00
- **C.19 - Percentage of Net Assets:** 39.6700%
- **C.17 - Yield as of Reporting Date:** 4.4000%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** Yes

- **Name of CCP:** Fixed Income Clearing Corp. - State Street Bank and Trust Co.

- **Is Tri-party?:** No

**Collateral:**
| Issuer Name                        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Note                 | 2031-07-31      | 4.1250%  | 0.0000% | $550000000.00      | $564363794.50      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-05-15      | 1.6250%  | 0.0000% | $350000000.00      | $308601566.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-02-29      | 4.1250%  | 0.0000% | $198000000.00      | $201976142.90      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-12-31      | 4.5000%  | 0.0000% | $875000000.00      | $899780280.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2030-11-30      | 4.3750%  | 0.0000% | $5539600.00        | $5690598.20        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-03-31      | 4.1250%  | 0.0000% | $321496900.00      | $326740787.70      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-11-15      | 1.3750%  | 0.0000% | $105200000.00      | $89937781.78       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-11-30      | 4.1250%  | 0.0000% | $1907000000.00     | $1927526891.00     | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-10-31      | 4.1250%  | 0.0000% | $935287000.00      | $949025627.20      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-06-30      | 4.2500%  | 0.0000% | $321000000.00      | $326153558.70      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-03-31      | 4.1250%  | 0.0000% | $75000000.00       | $76545579.00       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2032-01-15      | 0.1250%  | 0.0000% | $200000000.00      | $209271382.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-01-31      | 4.3750%  | 0.0000% | $400000000.00      | $415657632.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-08-31      | 3.7500%  | 0.0000% | $875800000.00      | $876322099.40      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2030-12-31      | 3.7500%  | 0.0000% | $148300000.00      | $147245680.40      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-02-15      | 1.8750%  | 0.0000% | $630000000.00      | $556221235.50      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-08-15      | 1.2500%  | 0.0000% | $1481000000.00     | $1270381969.00     | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-09-30      | 3.6250%  | 0.0000% | $725000000.00      | $717572505.50      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-10-15      | 4.6250%  | 0.0000% | $2023000.00        | $2059971.78        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-07-31      | 1.8750%  | 0.0000% | $13000000.00       | $12809517.11       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-07-31      | 4.3750%  | 0.0000% | $166000000.00      | $169644792.30      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-07-31      | 4.3770%  | 0.0000% | $250000000.00      | $252106555.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-08-31      | 1.3750%  | 0.0000% | $175000000.00      | $170650264.80      | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2026-08-15      | 6.7500%  | 0.0000% | $22000000.00       | $23244736.02       | U.S. Treasuries (including strips) |
| U.S. Treasury Bill                 | 2025-12-26      | 0.0000%  | 0.0000% | $491981300.00      | $481941688.50      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-07-31      | 0.6250%  | 0.0000% | $229600000.00      | $222024084.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2026-07-15      | 0.1250%  | 0.0000% | $26756500.00       | $35482585.30       | U.S. Treasuries (including strips) |
| U.S. Treasury Bill                 | 2025-12-18      | 0.0000%  | 0.0000% | $69142200.00       | $67792535.96       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-05-15      | 3.6250%  | 0.0000% | $228252800.00      | $228432907.40      | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2026-01-15      | 0.6250%  | 0.0000% | $33100200.00       | $44516019.41       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2026-10-15      | 0.1250%  | 0.0000% | $707585000.00      | $820830391.80      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-09-30      | 0.8750%  | 0.0000% | $508000000.00      | $490273467.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-01-31      | 0.3750%  | 0.0000% | $9997500.00        | $9792621.23        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-08-31      | 3.7500%  | 0.0000% | $99000000.00       | $99971674.11       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-08-31      | 0.7500%  | 0.0000% | $101314000.00      | $97873489.02       | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2026-04-15      | 0.1250%  | 0.0000% | $382741500.00      | $462880627.20      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-04-30      | 4.8750%  | 0.0000% | $104001900.00      | $105493960.10      | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Bond | 2026-01-15      | 2.0000%  | 0.0000% | $321633900.00      | $523445399.90      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-09-30      | 1.6250%  | 0.0000% | $21000000.00       | $20499963.75       | U.S. Treasuries (including strips) |
| U.S. Treasury Bill                 | 2025-10-21      | 0.0000%  | 0.0000% | $597299900.00      | $589434875.90      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-09-30      | 3.5000%  | 0.0000% | $628550000.00      | $630606936.20      | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2025-10-15      | 0.1250%  | 0.0000% | $593785500.00      | $731416867.80      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-08-15      | 4.3750%  | 0.0000% | $135000000.00      | $137777413.10      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-09-15      | 4.6250%  | 0.0000% | $250000000.00      | $255334580.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-04-30      | 0.7500%  | 0.0000% | $1896177200.00     | $1846982248.00     | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Note | 2031-01-15      | 0.1250%  | 0.0000% | $200000000.00      | $227869094.00      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-02-28      | 4.2500%  | 0.0000% | $100000000.00      | $103115999.00      | U.S. Treasuries (including strips) |

### Security 3: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797LW5, C.4 - ISIN: US912797LW51, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $653314660.32
- **C.18.a - Value (excl. sponsor support):** $653314660.32
- **C.19 - Percentage of Net Assets:** 1.4100%
- **C.17 - Yield as of Reporting Date:** 4.2500%
- **C.11 - Maturity Date (WAM):** 2025-07-10
- **C.12 - Maturity Date (WAL):** 2025-07-10
- **C.13 - Final Legal Maturity Date:** 2025-07-10
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 4: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797NX1, C.4 - ISIN: US912797NX17, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $650848427.67
- **C.18.a - Value (excl. sponsor support):** $650848427.67
- **C.19 - Percentage of Net Assets:** 1.4100%
- **C.17 - Yield as of Reporting Date:** 4.2500%
- **C.11 - Maturity Date (WAM):** 2025-07-03
- **C.12 - Maturity Date (WAL):** 2025-07-03
- **C.13 - Final Legal Maturity Date:** 2025-07-03
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 5: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PE1, C.4 - ISIN: US912797PE18, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $658785600.00
- **C.18.a - Value (excl. sponsor support):** $658785600.00
- **C.19 - Percentage of Net Assets:** 1.4200%
- **C.17 - Yield as of Reporting Date:** 4.2100%
- **C.11 - Maturity Date (WAM):** 2025-07-17
- **C.12 - Maturity Date (WAL):** 2025-07-17
- **C.13 - Final Legal Maturity Date:** 2025-07-17
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 6: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PF8, C.4 - ISIN: US912797PF82, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $650265047.56
- **C.18.a - Value (excl. sponsor support):** $650265047.56
- **C.19 - Percentage of Net Assets:** 1.4000%
- **C.17 - Yield as of Reporting Date:** 4.2300%
- **C.11 - Maturity Date (WAM):** 2025-07-24
- **C.12 - Maturity Date (WAL):** 2025-07-24
- **C.13 - Final Legal Maturity Date:** 2025-07-24
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 7: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PU5, C.4 - ISIN: US912797PU59, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $637000000.00
- **C.18.a - Value (excl. sponsor support):** $637000000.00
- **C.19 - Percentage of Net Assets:** 1.3800%
- **C.17 - Yield as of Reporting Date:** 0.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 8: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PZ4, C.4 - ISIN: US912797PZ47, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $660467253.83
- **C.18.a - Value (excl. sponsor support):** $660467253.83
- **C.19 - Percentage of Net Assets:** 1.4300%
- **C.17 - Yield as of Reporting Date:** 4.2100%
- **C.11 - Maturity Date (WAM):** 2025-07-08
- **C.12 - Maturity Date (WAL):** 2025-07-08
- **C.13 - Final Legal Maturity Date:** 2025-07-08
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 9: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797QA8, C.4 - ISIN: US912797QA86, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $644956800.44
- **C.18.a - Value (excl. sponsor support):** $644956800.44
- **C.19 - Percentage of Net Assets:** 1.3900%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-07-15
- **C.12 - Maturity Date (WAL):** 2025-07-15
- **C.13 - Final Legal Maturity Date:** 2025-07-15
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 10: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797QB6, C.4 - ISIN: US912797QB69, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $651414627.01
- **C.18.a - Value (excl. sponsor support):** $651414627.01
- **C.19 - Percentage of Net Assets:** 1.4100%
- **C.17 - Yield as of Reporting Date:** 4.2300%
- **C.11 - Maturity Date (WAM):** 2025-07-22
- **C.12 - Maturity Date (WAL):** 2025-07-22
- **C.13 - Final Legal Maturity Date:** 2025-07-22
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 11: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797QC4, C.4 - ISIN: US912797QC43, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $634943904.14
- **C.18.a - Value (excl. sponsor support):** $634943904.14
- **C.19 - Percentage of Net Assets:** 1.3700%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-07-29
- **C.12 - Maturity Date (WAL):** 2025-07-29
- **C.13 - Final Legal Maturity Date:** 2025-07-29
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 12: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797RA7, C.4 - ISIN: US912797RA77, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $459201417.50
- **C.18.a - Value (excl. sponsor support):** $459201417.50
- **C.19 - Percentage of Net Assets:** 0.9900%
- **C.17 - Yield as of Reporting Date:** 4.2600%
- **C.11 - Maturity Date (WAM):** 2026-01-02
- **C.12 - Maturity Date (WAL):** 2026-01-02
- **C.13 - Final Legal Maturity Date:** 2026-01-02
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 13: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 3.875000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CGE5, C.4 - ISIN: US91282CGE57, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $221700819.48
- **C.18.a - Value (excl. sponsor support):** $221700819.48
- **C.19 - Percentage of Net Assets:** 0.4800%
- **C.17 - Yield as of Reporting Date:** 4.1300%
- **C.11 - Maturity Date (WAM):** 2026-01-15
- **C.12 - Maturity Date (WAL):** 2026-01-15
- **C.13 - Final Legal Maturity Date:** 2026-01-15
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 14: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 4.625000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CGR6, C.4 - ISIN: US91282CGR60, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $220775585.80
- **C.18.a - Value (excl. sponsor support):** $220775585.80
- **C.19 - Percentage of Net Assets:** 0.4800%
- **C.17 - Yield as of Reporting Date:** 4.1100%
- **C.11 - Maturity Date (WAM):** 2026-03-15
- **C.12 - Maturity Date (WAL):** 2026-03-15
- **C.13 - Final Legal Maturity Date:** 2026-03-15
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 15: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 3.750000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CGV7, C.4 - ISIN: US91282CGV72, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $219428514.80
- **C.18.a - Value (excl. sponsor support):** $219428514.80
- **C.19 - Percentage of Net Assets:** 0.4700%
- **C.17 - Yield as of Reporting Date:** 4.0800%
- **C.11 - Maturity Date (WAM):** 2026-04-15
- **C.12 - Maturity Date (WAL):** 2026-04-15
- **C.13 - Final Legal Maturity Date:** 2026-04-15
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 16: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 3.625000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CHB0, C.4 - ISIN: US91282CHB00, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $221176171.32
- **C.18.a - Value (excl. sponsor support):** $221176171.32
- **C.19 - Percentage of Net Assets:** 0.4800%
- **C.17 - Yield as of Reporting Date:** 4.0600%
- **C.11 - Maturity Date (WAM):** 2026-05-15
- **C.12 - Maturity Date (WAL):** 2026-05-15
- **C.13 - Final Legal Maturity Date:** 2026-05-15
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 17: U.S. Treasury Floating Rate Note

- **C.1 - Title:** U.S. Treasury Floating Rate Note 4.485000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CJU6, C.4 - ISIN: US91282CJU62, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $1247380106.98
- **C.18.a - Value (excl. sponsor support):** $1247380106.98
- **C.19 - Percentage of Net Assets:** 2.6900%
- **C.17 - Yield as of Reporting Date:** 4.2700%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2026-01-31
- **C.13 - Final Legal Maturity Date:** 2026-01-31
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 18: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 4.250000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CJV4, C.4 - ISIN: US91282CJV46, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $541978829.48
- **C.18.a - Value (excl. sponsor support):** $541978829.48
- **C.19 - Percentage of Net Assets:** 1.1700%
- **C.17 - Yield as of Reporting Date:** 4.2500%
- **C.11 - Maturity Date (WAM):** 2026-01-31
- **C.12 - Maturity Date (WAL):** 2026-01-31
- **C.13 - Final Legal Maturity Date:** 2026-01-31
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 4.500000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CKH3, C.4 - ISIN: US91282CKH33, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $432178517.78
- **C.18.a - Value (excl. sponsor support):** $432178517.78
- **C.19 - Percentage of Net Assets:** 0.9300%
- **C.17 - Yield as of Reporting Date:** 4.1200%
- **C.11 - Maturity Date (WAM):** 2026-03-31
- **C.12 - Maturity Date (WAL):** 2026-03-31
- **C.13 - Final Legal Maturity Date:** 2026-03-31
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 20: U.S. Treasury Note

- **C.1 - Title:** U.S. Treasury Note 4.875000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CKK6, C.4 - ISIN: US91282CKK61, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $661106250.00
- **C.18.a - Value (excl. sponsor support):** $661106250.00
- **C.19 - Percentage of Net Assets:** 1.4300%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2026-04-30
- **C.12 - Maturity Date (WAL):** 2026-04-30
- **C.13 - Final Legal Maturity Date:** 2026-04-30
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 21: U.S. Treasury Floating Rate Note

- **C.1 - Title:** U.S. Treasury Floating Rate Note 4.390000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CKM2, C.4 - ISIN: US91282CKM28, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $1908120839.25
- **C.18.a - Value (excl. sponsor support):** $1908120839.25
- **C.19 - Percentage of Net Assets:** 4.1200%
- **C.17 - Yield as of Reporting Date:** 4.3000%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2026-04-30
- **C.13 - Final Legal Maturity Date:** 2026-04-30
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: U.S. Treasury Floating Rate Note

- **C.1 - Title:** U.S. Treasury Floating Rate Note 4.422000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CLA7, C.4 - ISIN: US91282CLA70, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $1242247924.78
- **C.18.a - Value (excl. sponsor support):** $1242247924.78
- **C.19 - Percentage of Net Assets:** 2.6800%
- **C.17 - Yield as of Reporting Date:** 4.3100%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2026-07-31
- **C.13 - Final Legal Maturity Date:** 2026-07-31
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 23: U.S. Treasury Floating Rate Note

- **C.1 - Title:** U.S. Treasury Floating Rate Note 4.445000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CLT6, C.4 - ISIN: US91282CLT61, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $1814181648.00
- **C.18.a - Value (excl. sponsor support):** $1814181648.00
- **C.19 - Percentage of Net Assets:** 3.9200%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2026-10-31
- **C.13 - Final Legal Maturity Date:** 2026-10-31
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 24: U.S. Treasury Floating Rate Note

- **C.1 - Title:** U.S. Treasury Floating Rate Note 4.338000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CMJ7, C.4 - ISIN: US91282CMJ70, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $607716270.72
- **C.18.a - Value (excl. sponsor support):** $607716270.72
- **C.19 - Percentage of Net Assets:** 1.3100%
- **C.17 - Yield as of Reporting Date:** 4.3600%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2027-01-31
- **C.13 - Final Legal Maturity Date:** 2027-01-31
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 25: U.S. Treasury Floating Rate Note

- **C.1 - Title:** U.S. Treasury Floating Rate Note 4.400000%
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 91282CMX6, C.4 - ISIN: US91282CMX64, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $850017450.50
- **C.18.a - Value (excl. sponsor support):** $850017450.50
- **C.19 - Percentage of Net Assets:** 1.8400%
- **C.17 - Yield as of Reporting Date:** 4.3900%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2027-04-30
- **C.13 - Final Legal Maturity Date:** 2027-04-30
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 26: Federal Reserve Bank of New York Tri Party Repo

- **C.1 - Title:** Federal Reserve Bank of New York Tri Party Repo 4.250000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 98599G006, C.3 - LEI: N/A, C.5 - Other ID: 98599G006_4.25_0701
- **C.18 - Value (incl. sponsor support):** $7600000000.00
- **C.18.a - Value (excl. sponsor support):** $7600000000.00
- **C.19 - Percentage of Net Assets:** 16.4100%
- **C.17 - Yield as of Reporting Date:** 4.2500%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Bond | 2041-08-15      | 3.7500%  | 0.0000% | $4570778400.00     | $4124783815.46     | U.S. Treasuries (including strips) |
| U.S. Treasury Bond | 2041-05-15      | 2.2500%  | 0.0000% | $4810261000.00     | $3476113465.48     | U.S. Treasuries (including strips) |

### Security 27: MUFG Securities Americas Inc. Tri Party Repo

- **C.1 - Title:** MUFG Securities Americas Inc. Tri Party Repo 4.390000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 985FHY004, C.3 - LEI: N/A, C.5 - Other ID: 985FHY004_4.39_0701
- **C.18 - Value (incl. sponsor support):** $500000000.00
- **C.18.a - Value (excl. sponsor support):** $500000000.00
- **C.19 - Percentage of Net Assets:** 1.0800%
- **C.17 - Yield as of Reporting Date:** 4.3900%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Inflation Index Bond | 2028-04-15      | 3.6250%  | 0.0000% | $8637500.00        | $18319507.43       | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2043-05-15      | 2.8750%  | 0.0000% | $100.00            | $77.09             | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2043-11-15      | 3.7500%  | 0.0000% | $4199000.00        | $3672745.63        | U.S. Treasuries (including strips) |
| U.S. Treasury Inflation Index Bond | 2045-02-15      | 0.7500%  | 0.0000% | $1288700.00        | $1281820.93        | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2051-05-15      | 2.3750%  | 0.0000% | $13767200.00       | $8726928.27        | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2042-08-15      | 3.3750%  | 0.0000% | $9100.00           | $7723.95           | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2052-11-15      | 4.0000%  | 0.0000% | $27800.00          | $24349.30          | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2043-02-15      | 3.8750%  | 0.0000% | $700.00            | $634.44            | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2053-08-15      | 4.1250%  | 0.0000% | $1100.00           | $995.23            | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2054-05-15      | 4.6250%  | 0.0000% | $521700.00         | $507866.21         | U.S. Treasuries (including strips) |
| U.S. Treasury Bond                 | 2045-02-15      | 4.7500%  | 0.0000% | $900.00            | $908.35            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-02-28      | 2.5000%  | 0.0000% | $100.00            | $99.72             | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2027-02-15      | 2.2500%  | 0.0000% | $1991600.00        | $1959228.30        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-08-31      | 1.3750%  | 0.0000% | $1400.00           | $1365.34           | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2027-05-31      | 0.5000%  | 0.0000% | $100.00            | $94.06             | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2025-09-30      | 0.2500%  | 0.0000% | $100.00            | $99.05             | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2030-11-15      | 0.8750%  | 0.0000% | $200.00            | $171.45            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-12-31      | 1.2500%  | 0.0000% | $3384300.00        | $3256762.65        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2029-10-31      | 4.0000%  | 0.0000% | $1952500.00        | $1982161.28        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2029-11-30      | 3.8750%  | 0.0000% | $1000.00           | $1006.52           | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2027-11-30      | 3.8750%  | 0.0000% | $200.00            | $201.28            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2033-02-15      | 3.5000%  | 0.0000% | $5399800.00        | $5266540.96        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2028-06-30      | 4.0000%  | 0.0000% | $38361000.00       | $38662862.71       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2028-08-31      | 4.3750%  | 0.0000% | $400.00            | $413.46            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2030-09-30      | 4.6250%  | 0.0000% | $100.00            | $104.76            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2033-11-15      | 4.5000%  | 0.0000% | $168796100.00      | $174014262.64      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-11-15      | 4.6250%  | 0.0000% | $22941600.00       | $23291533.96       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2034-02-15      | 4.0000%  | 0.0000% | $1000.00           | $1002.74           | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2034-05-15      | 4.3750%  | 0.0000% | $1932400.00        | $1969517.06        | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2029-05-31      | 4.5000%  | 0.0000% | $20815000.00       | $21440980.42       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2031-08-31      | 3.7500%  | 0.0000% | $808500.00         | $809887.44         | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2026-10-31      | 4.1250%  | 0.0000% | $300.00            | $302.85            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2029-12-31      | 4.3750%  | 0.0000% | $189112000.00      | $193604544.67      | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2032-03-31      | 4.1250%  | 0.0000% | $11000000.00       | $11192072.63       | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2028-04-15      | 3.7500%  | 0.0000% | $100.00            | $100.85            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2030-05-31      | 4.0000%  | 0.0000% | $900.00            | $910.59            | U.S. Treasuries (including strips) |
| US Treasury Strip Coupon           | 2028-02-15      | 0.0000%  | 0.0000% | $172.71            | $156.33            | U.S. Treasuries (including strips) |
| U.S. Treasury Note                 | 2025-11-15      | 2.2500%  | 0.0000% | $100.00            | $99.50             | U.S. Treasuries (including strips) |

## N-MFP: Signatures

**Registrant:** Master Trust

**Date:** 2025-07-08

**By:** /s/Rose Ann Bubloski

**Name of Signing Officer:** Rose Ann Bubloski

**Title of Signing Officer:** Vice President