# EDGAR Filing Document

**Accession Number:** 0001890141
**File Stem:** 0000894189-26-017615
**Filing Date:** 2026-6
**Character Count:** 71087
**Document Hash:** ee7db15d60ea1034249489bd422dff5a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-017615.hdr.sgml**: 20260605

**ACCESSION NUMBER**: 0000894189-26-017615

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260531

**FILED AS OF DATE**: 20260605

**DATE AS OF CHANGE**: 20260605

**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:** 261068745

**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):** 2026-05-31

**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:** 38 days

- **WAL:** 38 days

- **Total Value of Portfolio Securities:** $404606803.37

- **Amortized Cost of Portfolio Securities:** $404631508.88

- **Cash:** $12020.70

- **Total Other Assets:** $1898186.96

- **Total Liabilities:** $8799521.39

- **Net Assets of Series:** $397717489.64

- **Number of Shares Outstanding (Series):** 397720819.3400

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2026-05-01 | $46760844.26              | $292725844.26              | 12.6000%                  | 79.1000%                   |
| 2026-05-04 | $48071680.52              | $285036680.52              | 12.9000%                  | 76.6000%                   |
| 2026-05-05 | $43794089.79              | $280759089.79              | 11.6000%                  | 74.5000%                   |
| 2026-05-06 | $54242224.93              | $277667224.93              | 14.5000%                  | 74.3000%                   |
| 2026-05-07 | $52204096.59              | $275629096.59              | 14.0000%                  | 74.2000%                   |
| 2026-05-08 | $54557878.43              | $277982878.43              | 14.6000%                  | 74.3000%                   |
| 2026-05-11 | $55487844.92              | $278912844.92              | 14.8000%                  | 74.4000%                   |
| 2026-05-12 | $58040008.88              | $281465008.88              | 15.4000%                  | 74.5000%                   |
| 2026-05-13 | $54242001.68              | $277667001.68              | 14.5000%                  | 74.3000%                   |
| 2026-05-14 | $56008896.40              | $279433896.40              | 14.3000%                  | 71.5000%                   |
| 2026-05-15 | $47964799.06              | $273469799.06              | 12.0000%                  | 68.2000%                   |
| 2026-05-18 | $47878252.57              | $273383252.57              | 11.9000%                  | 68.2000%                   |
| 2026-05-19 | $48103369.36              | $273608369.36              | 12.0000%                  | 68.2000%                   |
| 2026-05-20 | $44440208.39              | $269945208.39              | 11.2000%                  | 67.9000%                   |
| 2026-05-21 | $55549769.26              | $293654769.26              | 12.7000%                  | 67.4000%                   |
| 2026-05-22 | $54997273.87              | $293102273.87              | 12.6000%                  | 67.3000%                   |
| 2026-05-26 | $42273957.46              | $288538957.46              | 9.8000%                   | 67.0000%                   |
| 2026-05-27 | $40002934.92              | $292269369.47              | 9.3000%                   | 68.2000%                   |
| 2026-05-28 | $40024856.64              | $287481647.59              | 9.9000%                   | 70.8000%                   |
| 2026-05-29 | $40720857.35              | $288176633.28              | 10.0000%                  | 70.9000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2026-05-01 | 3.0700%             |
| 2026-05-04 | 3.0000%             |
| 2026-05-05 | 2.9200%             |
| 2026-05-06 | 2.8500%             |
| 2026-05-07 | 2.7700%             |
| 2026-05-08 | 2.6000%             |
| 2026-05-11 | 2.5400%             |
| 2026-05-12 | 2.4800%             |
| 2026-05-13 | 2.4400%             |
| 2026-05-14 | 2.4300%             |
| 2026-05-15 | 2.3700%             |
| 2026-05-18 | 2.3600%             |
| 2026-05-19 | 2.3300%             |
| 2026-05-20 | 2.2800%             |
| 2026-05-21 | 2.2200%             |
| 2026-05-22 | 2.0100%             |
| 2026-05-26 | 1.9500%             |
| 2026-05-27 | 1.9200%             |
| 2026-05-28 | 1.9200%             |
| 2026-05-29 | 1.9300%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2026-05-01 | 0.9999                      |
|  |  |
| 2026-05-04 | 0.9999                      |
|  |  |
| 2026-05-05 | 0.9999                      |
|  |  |
| 2026-05-06 | 0.9999                      |
|  |  |
| 2026-05-07 | 0.9999                      |
|  |  |
| 2026-05-08 | 0.9999                      |
|  |  |
| 2026-05-11 | 0.9999                      |
|  |  |
| 2026-05-12 | 0.9999                      |
|  |  |
| 2026-05-13 | 0.9999                      |
|  |  |
| 2026-05-14 | 0.9999                      |
|  |  |
| 2026-05-15 | 0.9999                      |
|  |  |
| 2026-05-18 | 0.9999                      |
|  |  |
| 2026-05-19 | 0.9999                      |
|  |  |
| 2026-05-20 | 0.9999                      |
|  |  |
| 2026-05-21 | 0.9999                      |
|  |  |
| 2026-05-22 | 0.9999                      |
|  |  |
| 2026-05-26 | 0.9999                      |
|  |  |
| 2026-05-27 | 1.0000                      |
|  |  |
| 2026-05-28 | 1.0000                      |
|  |  |
| 2026-05-29 | 1.0000                      |
|  |  |

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

### Class: Class T

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $4714552.88

- **Number of Shares Outstanding:** 4693394.0400

- **Expense Reimbursement/Waiver:** 441.52

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2026-05-01 | 1.0044          |
|  |  |
| 2026-05-04 | 1.0044          |
|  |  |
| 2026-05-05 | 1.0044          |
|  |  |
| 2026-05-06 | 1.0044          |
|  |  |
| 2026-05-07 | 1.0044          |
|  |  |
| 2026-05-08 | 1.0044          |
|  |  |
| 2026-05-11 | 1.0044          |
|  |  |
| 2026-05-12 | 1.0044          |
|  |  |
| 2026-05-13 | 1.0044          |
|  |  |
| 2026-05-14 | 1.0044          |
|  |  |
| 2026-05-15 | 1.0044          |
|  |  |
| 2026-05-18 | 1.0044          |
|  |  |
| 2026-05-19 | 1.0044          |
|  |  |
| 2026-05-20 | 1.0044          |
|  |  |
| 2026-05-21 | 1.0044          |
|  |  |
| 2026-05-22 | 1.0044          |
|  |  |
| 2026-05-26 | 1.0044          |
|  |  |
| 2026-05-27 | 1.0045          |
|  |  |
| 2026-05-28 | 1.0045          |
|  |  |
| 2026-05-29 | 1.0045          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2026-05-01 | $1858.09                  | $0.00                   |
| 2026-05-04 | $9402.72                  | $0.00                   |
| 2026-05-05 | $0.00                     | $0.00                   |
| 2026-05-06 | $0.00                     | $0.00                   |
| 2026-05-07 | $0.00                     | $0.00                   |
| 2026-05-08 | $0.00                     | $0.00                   |
| 2026-05-11 | $0.00                     | $0.00                   |
| 2026-05-12 | $0.00                     | $0.00                   |
| 2026-05-13 | $0.00                     | $5467.39                |
| 2026-05-14 | $324.00                   | $0.00                   |
| 2026-05-15 | $0.00                     | $0.00                   |
| 2026-05-18 | $0.00                     | $0.00                   |
| 2026-05-19 | $0.00                     | $3270.69                |
| 2026-05-20 | $0.00                     | $451.89                 |
| 2026-05-21 | $0.00                     | $0.00                   |
| 2026-05-22 | $6.00                     | $0.00                   |
| 2026-05-26 | $0.00                     | $0.00                   |
| 2026-05-27 | $0.00                     | $5887.95                |
| 2026-05-28 | $0.00                     | $0.00                   |
| 2026-05-29 | $628.24                   | $0.00                   |

**Total Gross Subscriptions (Month):** $12219.05

**Total Gross Redemptions (Month):** $15077.92

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2026-05-01 | 2.6800%           |
| 2026-05-04 | 2.6100%           |
| 2026-05-05 | 2.5400%           |
| 2026-05-06 | 2.4600%           |
| 2026-05-07 | 2.3900%           |
| 2026-05-08 | 2.2100%           |
| 2026-05-11 | 2.1500%           |
| 2026-05-12 | 2.0900%           |
| 2026-05-13 | 2.0500%           |
| 2026-05-14 | 2.0400%           |
| 2026-05-15 | 1.9800%           |
| 2026-05-18 | 1.9600%           |
| 2026-05-19 | 1.9400%           |
| 2026-05-20 | 1.8900%           |
| 2026-05-21 | 1.8300%           |
| 2026-05-22 | 1.6200%           |
| 2026-05-26 | 1.5600%           |
| 2026-05-27 | 1.5300%           |
| 2026-05-28 | 1.5300%           |
| 2026-05-29 | 1.5400%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.9800%         | 0.0000%              |

### Class: Class V

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $23509128.34

- **Number of Shares Outstanding:** 23510810.7500

- **Expense Reimbursement/Waiver:** 2199.87

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2026-05-01 | 0.9998          |
|  |  |
| 2026-05-04 | 0.9998          |
|  |  |
| 2026-05-05 | 0.9998          |
|  |  |
| 2026-05-06 | 0.9998          |
|  |  |
| 2026-05-07 | 0.9999          |
|  |  |
| 2026-05-08 | 0.9999          |
|  |  |
| 2026-05-11 | 0.9999          |
|  |  |
| 2026-05-12 | 0.9998          |
|  |  |
| 2026-05-13 | 0.9998          |
|  |  |
| 2026-05-14 | 0.9998          |
|  |  |
| 2026-05-15 | 0.9998          |
|  |  |
| 2026-05-18 | 0.9998          |
|  |  |
| 2026-05-19 | 0.9998          |
|  |  |
| 2026-05-20 | 0.9998          |
|  |  |
| 2026-05-21 | 0.9998          |
|  |  |
| 2026-05-22 | 0.9998          |
|  |  |
| 2026-05-26 | 0.9999          |
|  |  |
| 2026-05-27 | 0.9999          |
|  |  |
| 2026-05-28 | 0.9999          |
|  |  |
| 2026-05-29 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2026-05-01 | $50840.49                 | $150397.78              |
| 2026-05-04 | $173.05                   | $201045.24              |
| 2026-05-05 | $35996.32                 | $18019.73               |
| 2026-05-06 | $0.00                     | $71559.32               |
| 2026-05-07 | $0.00                     | $242530.86              |
| 2026-05-08 | $4968.43                  | $0.00                   |
| 2026-05-11 | $222056.39                | $33816.79               |
| 2026-05-12 | $48960.66                 | $0.00                   |
| 2026-05-13 | $3034.77                  | $108715.34              |
| 2026-05-14 | $32921.86                 | $0.00                   |
| 2026-05-15 | $179405.23                | $0.00                   |
| 2026-05-18 | $124.23                   | $2.54                   |
| 2026-05-19 | $46678.13                 | $0.00                   |
| 2026-05-20 | $8651.30                  | $0.00                   |
| 2026-05-21 | $2371.25                  | $66545.61               |
| 2026-05-22 | $13335.32                 | $133.33                 |
| 2026-05-26 | $2419.12                  | $0.00                   |
| 2026-05-27 | $500472.78                | $0.00                   |
| 2026-05-28 | $0.00                     | $512411.05              |
| 2026-05-29 | $285.50                   | $66437.75               |

**Total Gross Subscriptions (Month):** $1152694.83

**Total Gross Redemptions (Month):** $1471615.34

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2026-05-01 | 2.7700%           |
| 2026-05-04 | 2.7000%           |
| 2026-05-05 | 2.6300%           |
| 2026-05-06 | 2.5500%           |
| 2026-05-07 | 2.4800%           |
| 2026-05-08 | 2.3000%           |
| 2026-05-11 | 2.2400%           |
| 2026-05-12 | 2.1800%           |
| 2026-05-13 | 2.1400%           |
| 2026-05-14 | 2.1300%           |
| 2026-05-15 | 2.0700%           |
| 2026-05-18 | 2.0600%           |
| 2026-05-19 | 2.0300%           |
| 2026-05-20 | 1.9800%           |
| 2026-05-21 | 1.9200%           |
| 2026-05-22 | 1.7100%           |
| 2026-05-26 | 1.6500%           |
| 2026-05-27 | 1.6200%           |
| 2026-05-28 | 1.6200%           |
| 2026-05-29 | 1.6300%           |

**Beneficial/Record Owner Categories**
| Category                      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Registered investment company |  | 0.0000%          | 86.7600%             |
| Registered investment company |  | 0.0000%          | 13.1300%             |

### Class: Class Y

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $15577738.99

- **Number of Shares Outstanding:** 15571117.6400

- **Expense Reimbursement/Waiver:** 1448.83

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2026-05-01 | 1.0004          |
|  |  |
| 2026-05-04 | 1.0004          |
|  |  |
| 2026-05-05 | 1.0004          |
|  |  |
| 2026-05-06 | 1.0004          |
|  |  |
| 2026-05-07 | 1.0004          |
|  |  |
| 2026-05-08 | 1.0004          |
|  |  |
| 2026-05-11 | 1.0004          |
|  |  |
| 2026-05-12 | 1.0004          |
|  |  |
| 2026-05-13 | 1.0004          |
|  |  |
| 2026-05-14 | 1.0004          |
|  |  |
| 2026-05-15 | 1.0003          |
|  |  |
| 2026-05-18 | 1.0003          |
|  |  |
| 2026-05-19 | 1.0003          |
|  |  |
| 2026-05-20 | 1.0003          |
|  |  |
| 2026-05-21 | 1.0003          |
|  |  |
| 2026-05-22 | 1.0003          |
|  |  |
| 2026-05-26 | 1.0003          |
|  |  |
| 2026-05-27 | 1.0003          |
|  |  |
| 2026-05-28 | 1.0004          |
|  |  |
| 2026-05-29 | 1.0004          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2026-05-01 | $1054937.88               | $0.00                   |
| 2026-05-04 | $1181.94                  | $993.42                 |
| 2026-05-05 | $2665.76                  | $524467.10              |
| 2026-05-06 | $320606.79                | $70900.69               |
| 2026-05-07 | $95304.42                 | $1997.68                |
| 2026-05-08 | $75728.96                 | $0.00                   |
| 2026-05-11 | $253013.75                | $27470.91               |
| 2026-05-12 | $0.00                     | $236812.10              |
| 2026-05-13 | $31544.62                 | $827727.80              |
| 2026-05-14 | $602131.43                | $0.00                   |
| 2026-05-15 | $1776484.77               | $843.01                 |
| 2026-05-18 | $0.00                     | $495199.90              |
| 2026-05-19 | $0.00                     | $569375.34              |
| 2026-05-20 | $5016.65                  | $199280.27              |
| 2026-05-21 | $910252.13                | $23862.00               |
| 2026-05-22 | $958753.26                | $271359.45              |
| 2026-05-26 | $112995.98                | $3594.77                |
| 2026-05-27 | $26930.68                 | $0.00                   |
| 2026-05-28 | $4201.53                  | $1289247.96             |
| 2026-05-29 | $7557.30                  | $14582.48               |

**Total Gross Subscriptions (Month):** $6239307.85

**Total Gross Redemptions (Month):** $4557714.88

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2026-05-01 | 2.6200%           |
| 2026-05-04 | 2.5500%           |
| 2026-05-05 | 2.4800%           |
| 2026-05-06 | 2.4000%           |
| 2026-05-07 | 2.3300%           |
| 2026-05-08 | 2.1500%           |
| 2026-05-11 | 2.0900%           |
| 2026-05-12 | 2.0300%           |
| 2026-05-13 | 1.9900%           |
| 2026-05-14 | 1.9800%           |
| 2026-05-15 | 1.9200%           |
| 2026-05-18 | 1.9100%           |
| 2026-05-19 | 1.8800%           |
| 2026-05-20 | 1.8400%           |
| 2026-05-21 | 1.7700%           |
| 2026-05-22 | 1.5600%           |
| 2026-05-26 | 1.5000%           |
| 2026-05-27 | 1.4700%           |
| 2026-05-28 | 1.4700%           |
| 2026-05-29 | 1.4800%           |

**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:** $326172387.24

- **Number of Shares Outstanding:** 326201953.8400

- **Expense Reimbursement/Waiver:** 29588.67

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2026-05-01 | 0.9998          |
|  |  |
| 2026-05-04 | 0.9998          |
|  |  |
| 2026-05-05 | 0.9998          |
|  |  |
| 2026-05-06 | 0.9998          |
|  |  |
| 2026-05-07 | 0.9998          |
|  |  |
| 2026-05-08 | 0.9998          |
|  |  |
| 2026-05-11 | 0.9998          |
|  |  |
| 2026-05-12 | 0.9998          |
|  |  |
| 2026-05-13 | 0.9998          |
|  |  |
| 2026-05-14 | 0.9998          |
|  |  |
| 2026-05-15 | 0.9998          |
|  |  |
| 2026-05-18 | 0.9998          |
|  |  |
| 2026-05-19 | 0.9998          |
|  |  |
| 2026-05-20 | 0.9998          |
|  |  |
| 2026-05-21 | 0.9998          |
|  |  |
| 2026-05-22 | 0.9998          |
|  |  |
| 2026-05-26 | 0.9998          |
|  |  |
| 2026-05-27 | 0.9999          |
|  |  |
| 2026-05-28 | 0.9999          |
|  |  |
| 2026-05-29 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2026-05-01 | $1927384.60               | $0.00                   |
| 2026-05-04 | $2380044.48               | $80087.39               |
| 2026-05-05 | $5926873.20               | $655504.38              |
| 2026-05-06 | $0.00                     | $3425940.78             |
| 2026-05-07 | $0.00                     | $1880748.01             |
| 2026-05-08 | $2945506.96               | $665200.75              |
| 2026-05-11 | $2619376.77               | $2198071.72             |
| 2026-05-12 | $2678528.39               | $0.00                   |
| 2026-05-13 | $0.00                     | $2593499.92             |
| 2026-05-14 | $15827845.57              | $0.00                   |
| 2026-05-15 | $5514654.13               | $5626212.88             |
| 2026-05-18 | $428005.16                | $0.00                   |
| 2026-05-19 | $1130324.66               | $284443.46              |
| 2026-05-20 | $0.00                     | $3409260.25             |
| 2026-05-21 | $25184167.36              | $2362773.53             |
| 2026-05-22 | $0.00                     | $1019962.05             |
| 2026-05-26 | $316230.15                | $4950398.89             |
| 2026-05-27 | $61607.02                 | $2858262.52             |
| 2026-05-28 | $0.00                     | $6384243.28             |
| 2026-05-29 | $1016747.87               | $215482.93              |

**Total Gross Subscriptions (Month):** $67957296.32

**Total Gross Redemptions (Month):** $38610092.74

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2026-05-01 | 2.8700%           |
| 2026-05-04 | 2.8000%           |
| 2026-05-05 | 2.7300%           |
| 2026-05-06 | 2.6500%           |
| 2026-05-07 | 2.5800%           |
| 2026-05-08 | 2.4000%           |
| 2026-05-11 | 2.3400%           |
| 2026-05-12 | 2.2800%           |
| 2026-05-13 | 2.2400%           |
| 2026-05-14 | 2.2300%           |
| 2026-05-15 | 2.1700%           |
| 2026-05-18 | 2.1600%           |
| 2026-05-19 | 2.1300%           |
| 2026-05-20 | 2.0800%           |
| 2026-05-21 | 2.0200%           |
| 2026-05-22 | 1.8100%           |
| 2026-05-26 | 1.7500%           |
| 2026-05-27 | 1.7200%           |
| 2026-05-28 | 1.7200%           |
| 2026-05-29 | 1.7300%           |

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

### Class: Class A

- **Minimum Initial Investment:** $1000.00

- **Net Assets of Class:** $27743682.19

- **Number of Shares Outstanding:** 27743543.0700

- **Expense Reimbursement/Waiver:** 2544.41

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2026-05-01 | 0.9999          |
|  |  |
| 2026-05-04 | 0.9999          |
|  |  |
| 2026-05-05 | 0.9999          |
|  |  |
| 2026-05-06 | 0.9999          |
|  |  |
| 2026-05-07 | 0.9999          |
|  |  |
| 2026-05-08 | 0.9999          |
|  |  |
| 2026-05-11 | 0.9999          |
|  |  |
| 2026-05-12 | 0.9999          |
|  |  |
| 2026-05-13 | 0.9999          |
|  |  |
| 2026-05-14 | 0.9999          |
|  |  |
| 2026-05-15 | 0.9999          |
|  |  |
| 2026-05-18 | 0.9999          |
|  |  |
| 2026-05-19 | 0.9999          |
|  |  |
| 2026-05-20 | 0.9999          |
|  |  |
| 2026-05-21 | 0.9999          |
|  |  |
| 2026-05-22 | 0.9999          |
|  |  |
| 2026-05-26 | 0.9999          |
|  |  |
| 2026-05-27 | 1.0000          |
|  |  |
| 2026-05-28 | 1.0000          |
|  |  |
| 2026-05-29 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2026-05-01 | $9450.91                  | $15284.61               |
| 2026-05-04 | $126328.51                | $0.00                   |
| 2026-05-05 | $0.00                     | $78795.17               |
| 2026-05-06 | $68307.82                 | $220.49                 |
| 2026-05-07 | $96.02                    | $4957.10                |
| 2026-05-08 | $1039.35                  | $7230.49                |
| 2026-05-11 | $95745.67                 | $273.00                 |
| 2026-05-12 | $121121.91                | $47558.07               |
| 2026-05-13 | $0.00                     | $294446.86              |
| 2026-05-14 | $305710.84                | $0.00                   |
| 2026-05-15 | $249997.90                | $9958.43                |
| 2026-05-18 | $0.00                     | $19550.75               |
| 2026-05-19 | $0.00                     | $94520.02               |
| 2026-05-20 | $0.00                     | $71883.07               |
| 2026-05-21 | $116328.61                | $0.00                   |
| 2026-05-22 | $486.64                   | $234276.51              |
| 2026-05-26 | $0.00                     | $44996.24               |
| 2026-05-27 | $2996.29                  | $638.98                 |
| 2026-05-28 | $27608.35                 | $18270.72               |
| 2026-05-29 | $26203.98                 | $57812.91               |

**Total Gross Subscriptions (Month):** $1151422.80

**Total Gross Redemptions (Month):** $1000673.42

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2026-05-01 | 2.3200%           |
| 2026-05-04 | 2.2500%           |
| 2026-05-05 | 2.1800%           |
| 2026-05-06 | 2.1000%           |
| 2026-05-07 | 2.0300%           |
| 2026-05-08 | 1.8500%           |
| 2026-05-11 | 1.7900%           |
| 2026-05-12 | 1.7300%           |
| 2026-05-13 | 1.6900%           |
| 2026-05-14 | 1.6800%           |
| 2026-05-15 | 1.6200%           |
| 2026-05-18 | 1.6100%           |
| 2026-05-19 | 1.5800%           |
| 2026-05-20 | 1.5300%           |
| 2026-05-21 | 1.4700%           |
| 2026-05-22 | 1.2600%           |
| 2026-05-26 | 1.2000%           |
| 2026-05-27 | 1.1700%           |
| 2026-05-28 | 1.1700%           |
| 2026-05-29 | 1.1800%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer                                       |  | 5.0100%          | 0.0000%              |
| Depository institution or other banking institution |  | 82.1300%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: ANDERSON TWP OH PARK DIST

- **C.1 - Title:** Anderson Township Park District, Ohio, Hamilton County, Series 2026
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 034150AW2, C.4 - ISIN: US034150AW25, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4031765.20
- **C.18.a - Value (excl. sponsor support):** $4031765.20
- **C.19 - Percentage of Net Assets:** 1.0100%
- **C.17 - Yield as of Reporting Date:** 2.5900%
- **C.11 - Maturity Date (WAM):** 2027-03-09
- **C.12 - Maturity Date (WAL):** 2027-03-09
- **C.13 - Final Legal Maturity Date:** 2027-03-09
- **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 2: ASPIRUS INC OBL GROUP

- **C.1 - Title:** Wisconsin Health and Educational Facilities Authority, The Medical College of Wisconsin, 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:** 2.4400%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2034-08-15
- **C.10 - Ratings:** Moodys Long: Aa1; Moodys Short: VMIG1; Standard and Poors Long: AAA; 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 3: BAYCARE OBLIGATED GROUP

- **C.1 - Title:** Hillsborough County Industrial Development Authority, Baycare Health System, 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):** $17125000.00
- **C.18.a - Value (excl. sponsor support):** $17125000.00
- **C.19 - Percentage of Net Assets:** 4.3100%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2038-11-01
- **C.10 - Ratings:** Fitch Long: AA; Fitch Short: F1+; Moodys Long: Aa1; 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 4: CHEVRON USA INC

- **C.1 - Title:** Mississippi Busines Finance Corporation, Chevron USA 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):** $5870000.00
- **C.18.a - Value (excl. sponsor support):** $5870000.00
- **C.19 - Percentage of Net Assets:** 1.4800%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2026-06-01
- **C.12 - Maturity Date (WAL):** 2026-06-01
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Long: Aa2; Moodys Short: VMIG1; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 5: CHEVRON USA INC

- **C.1 - Title:** Mississippi Busines Finance Corporation, Chevron USA Inc Project, Series 2009E
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABM5, C.4 - ISIN: US60528ABM53, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $7520000.00
- **C.18.a - Value (excl. sponsor support):** $7520000.00
- **C.19 - Percentage of Net Assets:** 1.8900%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2026-06-01
- **C.12 - Maturity Date (WAL):** 2026-06-01
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Long: Aa2; Moodys Short: VMIG1; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 6: CHEVRON USA INC

- **C.1 - Title:** Mississippi Busines Finance Corporation, Chevron USA Inc Project, Series 2009B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABJ2, C.4 - ISIN: US60528ABJ25, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $5240000.00
- **C.18.a - Value (excl. sponsor support):** $5240000.00
- **C.19 - Percentage of Net Assets:** 1.3200%
- **C.17 - Yield as of Reporting Date:** 2.8500%
- **C.11 - Maturity Date (WAM):** 2026-06-01
- **C.12 - Maturity Date (WAL):** 2026-06-01
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Long: Aa2; Moodys Short: VMIG1; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 7: 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:** 0.0300%
- **C.17 - Yield as of Reporting Date:** 1.5900%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2047-07-01
- **C.10 - Ratings:** Fitch Long: A+; Moodys Long: Aa1; Moodys Short: VMIG1; 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 8: 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):** $5220000.00
- **C.18.a - Value (excl. sponsor support):** $5220000.00
- **C.19 - Percentage of Net Assets:** 1.3100%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Fitch Long: A; Fitch Short: F1; Moodys Long: Aa1; 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 9: 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:** 2.3800%
- **C.17 - Yield as of Reporting Date:** 1.6500%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Fitch Long: AA-; Moodys Long: Aa1; Moodys Short: VMIG1; 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 10: 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):** $10400000.00
- **C.18.a - Value (excl. sponsor support):** $10400000.00
- **C.19 - Percentage of Net Assets:** 2.6100%
- **C.17 - Yield as of Reporting Date:** 2.8000%
- **C.11 - Maturity Date (WAM):** 2026-06-01
- **C.12 - Maturity Date (WAL):** 2026-06-01
- **C.13 - Final Legal Maturity Date:** 2041-11-01
- **C.10 - Ratings:** Moodys Long: Aa2; Moodys Short: VMIG1; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 11: 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):** $18580000.00
- **C.18.a - Value (excl. sponsor support):** $18580000.00
- **C.19 - Percentage of Net Assets:** 4.6700%
- **C.17 - Yield as of Reporting Date:** 1.4300%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2048-06-01
- **C.10 - Ratings:** Fitch Long: AA; Fitch Short: F1+; 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 12: HAMILTON OH

- **C.1 - Title:** City of Hamilton Ohio,  General Obligation Bond, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 407756P90, C.4 - ISIN: US407756P902, C.3 - LEI: 549300NCXYTNZWHRP508
- **C.18 - Value (incl. sponsor support):** $2014435.80
- **C.18.a - Value (excl. sponsor support):** $2014435.80
- **C.19 - Percentage of Net Assets:** 0.5100%
- **C.17 - Yield as of Reporting Date:** 2.6400%
- **C.11 - Maturity Date (WAM):** 2026-12-15
- **C.12 - Maturity Date (WAL):** 2026-12-15
- **C.13 - Final Legal Maturity Date:** 2026-12-15
- **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? 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 13: 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:** 1.5100%
- **C.17 - Yield as of Reporting Date:** 1.5900%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2034-05-15
- **C.10 - Ratings:** Fitch Long: AAA; Fitch Short: F1; Moodys Long: Aa1; Moodys Short: VMIG1; 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 14: 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:** 5.0200%
- **C.17 - Yield as of Reporting Date:** 1.5500%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2038-02-15
- **C.10 - Ratings:** Moodys Long: Aaa; Moodys Short: VMIG1; Standard and Poors Long: AAA; 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 15: ILLINOIS FINANCE AUTH

- **C.1 - Title:** Illinois Finance Authority, Series A2
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 45203UAW3, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $15002152.50
- **C.18.a - Value (excl. sponsor support):** $15002152.50
- **C.19 - Percentage of Net Assets:** 3.7700%
- **C.17 - Yield as of Reporting Date:** 2.5500%
- **C.11 - Maturity Date (WAM):** 2026-09-17
- **C.12 - Maturity Date (WAL):** 2026-09-17
- **C.13 - Final Legal Maturity Date:** 2026-09-17
- **C.10 - Ratings:** Moodys Long: P-1; Moodys Short: P-1; Standard and Poors Long: A-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 16: KING COUNTY WASH DIR ASN

- **C.1 - Title:** King County, Washington, Series A
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 49476VKL6, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $10002277.00
- **C.18.a - Value (excl. sponsor support):** $10002277.00
- **C.19 - Percentage of Net Assets:** 2.5100%
- **C.17 - Yield as of Reporting Date:** 2.5000%
- **C.11 - Maturity Date (WAM):** 2026-08-24
- **C.12 - Maturity Date (WAL):** 2026-08-24
- **C.13 - Final Legal Maturity Date:** 2026-08-24
- **C.10 - Ratings:** Moodys Long: P-1; Moodys Short: P-1; Standard and Poors Long: A-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 17: LAKE CNTY OH

- **C.1 - Title:** County of Lake, Ohio, Various Purpose Improvement Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 5094266V9, C.4 - ISIN: US5094266V99, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5237300.17
- **C.18.a - Value (excl. sponsor support):** $5237300.17
- **C.19 - Percentage of Net Assets:** 1.3200%
- **C.17 - Yield as of Reporting Date:** 2.6300%
- **C.11 - Maturity Date (WAM):** 2026-09-16
- **C.12 - Maturity Date (WAL):** 2026-09-16
- **C.13 - Final Legal Maturity Date:** 2026-09-16
- **C.10 - Ratings:** Moodys Short: MIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 18: 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:** 0.7900%
- **C.17 - Yield as of Reporting Date:** 1.3500%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2028-08-01
- **C.10 - Ratings:** Moodys Long: Aa1; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: LUCAS CNTY OH

- **C.1 - Title:** County of Lucas, Ohio Various Purpose Improvement Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 54930LUM5, C.4 - ISIN: US54930LUM52, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4184420.56
- **C.18.a - Value (excl. sponsor support):** $4184420.56
- **C.19 - Percentage of Net Assets:** 1.0500%
- **C.17 - Yield as of Reporting Date:** 2.4700%
- **C.11 - Maturity Date (WAM):** 2026-10-09
- **C.12 - Maturity Date (WAL):** 2026-10-09
- **C.13 - Final Legal Maturity Date:** 2026-10-09
- **C.10 - Ratings:** 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 20: 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):** $13975000.00
- **C.18.a - Value (excl. sponsor support):** $13975000.00
- **C.19 - Percentage of Net Assets:** 3.5100%
- **C.17 - Yield as of Reporting Date:** 1.7000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **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 21: 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):** $18180000.00
- **C.18.a - Value (excl. sponsor support):** $18180000.00
- **C.19 - Percentage of Net Assets:** 4.5700%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2038-10-01
- **C.10 - Ratings:** Moodys Long: Aa2; 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? 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 22: MADISON WI MET SCH DIST

- **C.1 - Title:** Madison Metropolitan School District, Dane County, Wisconsin, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 558495RE9, C.4 - ISIN: US558495RE95, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5029681.00
- **C.18.a - Value (excl. sponsor support):** $5029681.00
- **C.19 - Percentage of Net Assets:** 1.2600%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2026-09-01
- **C.12 - Maturity Date (WAL):** 2026-09-01
- **C.13 - Final Legal Maturity Date:** 2026-09-01
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 23: MIAMISBURG OH

- **C.1 - Title:** City of Miamisburg, Montgomery County, Ohio, Series 2026
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 593864ML2, C.4 - ISIN: US593864ML26, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3010335.60
- **C.18.a - Value (excl. sponsor support):** $3010335.60
- **C.19 - Percentage of Net Assets:** 0.7600%
- **C.17 - Yield as of Reporting Date:** 2.5700%
- **C.11 - Maturity Date (WAM):** 2026-10-21
- **C.12 - Maturity Date (WAL):** 2026-10-21
- **C.13 - Final Legal Maturity Date:** 2026-10-21
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 24: MUSKINGUM CNTY OH

- **C.1 - Title:** County of Muskingum, Ohio Capital Facilities Improvement, Series 2025A
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 628076NG2, C.4 - ISIN: US628076NG20, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $6796146.38
- **C.18.a - Value (excl. sponsor support):** $6796146.38
- **C.19 - Percentage of Net Assets:** 1.7100%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2026-12-15
- **C.12 - Maturity Date (WAL):** 2026-12-15
- **C.13 - Final Legal Maturity Date:** 2026-12-15
- **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? 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 25: NEW ALBANY OH

- **C.1 - Title:** City of New Albany, Ohio Capital Facilities, 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):** $3350256.95
- **C.18.a - Value (excl. sponsor support):** $3350256.95
- **C.19 - Percentage of Net Assets:** 0.8400%
- **C.17 - Yield as of Reporting Date:** 2.6800%
- **C.11 - Maturity Date (WAM):** 2026-06-04
- **C.12 - Maturity Date (WAL):** 2026-06-04
- **C.13 - Final Legal Maturity Date:** 2026-06-04
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 26: NEW ALBANY OH

- **C.1 - Title:** City of New Albany, Ohio Capital Facilities, Series 2026
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 641840GG2, C.4 - ISIN: US641840GG27, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $8053896.57
- **C.18.a - Value (excl. sponsor support):** $8053896.57
- **C.19 - Percentage of Net Assets:** 2.0200%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2027-06-01
- **C.12 - Maturity Date (WAL):** 2027-06-01
- **C.13 - Final Legal Maturity Date:** 2027-06-01
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 27: NEW YORK CITY NY TRANSITIONAL

- **C.1 - Title:** New York City Transitiional Finance Authority, 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):** $14680000.00
- **C.18.a - Value (excl. sponsor support):** $14680000.00
- **C.19 - Percentage of Net Assets:** 3.6900%
- **C.17 - Yield as of Reporting Date:** 1.5500%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2041-11-01
- **C.10 - Ratings:** Fitch Long: AAA; Fitch Short: F1; Moodys Long: Aa1; Moodys Short: VMIG1; Standard and Poors Long: AAA; 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 28: 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:** 3.7700%
- **C.17 - Yield as of Reporting Date:** 1.5000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2043-10-01
- **C.10 - Ratings:** Fitch Long: A+; Fitch Short: F1; 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 29: OAK HILLS OH LOCAL SCH DIST

- **C.1 - Title:** Hamilton County, Oak Hills School District, Series 2026
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 671392GW2, C.4 - ISIN: US671392GW26, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $6000397.80
- **C.18.a - Value (excl. sponsor support):** $6000397.80
- **C.19 - Percentage of Net Assets:** 1.5100%
- **C.17 - Yield as of Reporting Date:** 2.5700%
- **C.11 - Maturity Date (WAM):** 2026-06-03
- **C.12 - Maturity Date (WAL):** 2026-06-03
- **C.13 - Final Legal Maturity Date:** 2026-06-03
- **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? Yes, C.23 Categorized at Level 3? No

### Security 30: 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):** $18450000.00
- **C.18.a - Value (excl. sponsor support):** $18450000.00
- **C.19 - Percentage of Net Assets:** 4.6400%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2050-12-01
- **C.10 - Ratings:** Fitch Long: AA+; Fitch Short: F1+; Moodys Long: Aa1; 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 31: 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:** 1.8100%
- **C.17 - Yield as of Reporting Date:** 1.6700%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **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 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):** $18800000.00
- **C.18.a - Value (excl. sponsor support):** $18800000.00
- **C.19 - Percentage of Net Assets:** 4.7300%
- **C.17 - Yield as of Reporting Date:** 1.5500%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2044-12-01
- **C.10 - Ratings:** Moodys Long: Aa1; Moodys Short: VMIG1; 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: 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:** 3.0400%
- **C.17 - Yield as of Reporting Date:** 1.7000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2035-02-01
- **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? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 34: SIDNEY OH

- **C.1 - Title:** City of Sidney, Ohio General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 826112LP7, C.4 - ISIN: US826112LP76, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5018268.50
- **C.18.a - Value (excl. sponsor support):** $5018268.50
- **C.19 - Percentage of Net Assets:** 1.2600%
- **C.17 - Yield as of Reporting Date:** 2.4800%
- **C.11 - Maturity Date (WAM):** 2026-10-07
- **C.12 - Maturity Date (WAL):** 2026-10-07
- **C.13 - Final Legal Maturity Date:** 2026-10-07
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 35: SPRINGFIELD OH

- **C.1 - Title:** Springfield City, Ohio, General Obligation Notes, Series 2026
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 851103TU5, C.4 - ISIN: US851103TU54, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4039072.40
- **C.18.a - Value (excl. sponsor support):** $4039072.40
- **C.19 - Percentage of Net Assets:** 1.0200%
- **C.17 - Yield as of Reporting Date:** 2.5300%
- **C.11 - Maturity Date (WAM):** 2027-03-23
- **C.12 - Maturity Date (WAL):** 2027-03-23
- **C.13 - Final Legal Maturity Date:** 2027-03-23
- **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 36: 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:** 3.0200%
- **C.17 - Yield as of Reporting Date:** 1.5000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **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 37: ST LOUIS UNIVERSITY

- **C.1 - Title:** State of Missouri Health and Education 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):** $12120000.00
- **C.18.a - Value (excl. sponsor support):** $12120000.00
- **C.19 - Percentage of Net Assets:** 3.0500%
- **C.17 - Yield as of Reporting Date:** 2.8000%
- **C.11 - Maturity Date (WAM):** 2026-06-01
- **C.12 - Maturity Date (WAL):** 2026-06-01
- **C.13 - Final Legal Maturity Date:** 2035-10-01
- **C.10 - Ratings:** Moodys Long: Aa1; Moodys Short: VMIG1; 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 38: 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:** 3.3200%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **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 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: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $5100000.00
- **C.18.a - Value (excl. sponsor support):** $5100000.00
- **C.19 - Percentage of Net Assets:** 1.2800%
- **C.17 - Yield as of Reporting Date:** 1.5000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2031-04-01
- **C.10 - Ratings:** Standard and Poors Long: A; 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 40: THE NEWBERRY LIBRARY

- **C.1 - Title:** Illinois Educational Facilities Authority, The Newberry Library, Series 1988
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 452000S60, C.4 - ISIN: US452000S606, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $100000.00
- **C.18.a - Value (excl. sponsor support):** $100000.00
- **C.19 - Percentage of Net Assets:** 0.0300%
- **C.17 - Yield as of Reporting Date:** 1.4000%
- **C.11 - Maturity Date (WAM):** 2026-06-05
- **C.12 - Maturity Date (WAL):** 2026-06-05
- **C.13 - Final Legal Maturity Date:** 2028-03-01
- **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? 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: UNIVERSITY OF CHICAGO MEDICAL

- **C.1 - Title:** Illinois Finance Authority, The University of Chicago Medical Center, Series 2010B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200F6G9, C.4 - ISIN: US45200F6G90, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $7605000.00
- **C.18.a - Value (excl. sponsor support):** $7605000.00
- **C.19 - Percentage of Net Assets:** 1.9100%
- **C.17 - Yield as of Reporting Date:** 2.8000%
- **C.11 - Maturity Date (WAM):** 2026-06-01
- **C.12 - Maturity Date (WAL):** 2026-06-01
- **C.13 - Final Legal Maturity Date:** 2044-08-01
- **C.10 - Ratings:** Fitch Long: AA-; Fitch Short: F1+; Moodys Long: A1; Standard and Poors Long: A+; 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 42: UNIVERSITY OF MICHIGAN

- **C.1 - Title:** University of Michigan, Series 2009B
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91445AT25, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $9001227.60
- **C.18.a - Value (excl. sponsor support):** $9001227.60
- **C.19 - Percentage of Net Assets:** 2.2600%
- **C.17 - Yield as of Reporting Date:** 2.5000%
- **C.11 - Maturity Date (WAM):** 2026-07-20
- **C.12 - Maturity Date (WAL):** 2026-07-20
- **C.13 - Final Legal Maturity Date:** 2026-07-20
- **C.10 - Ratings:** Moodys Long: VMIG1; Moodys Short: VMIG1; Standard and Poors Long: A-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 43: UNIVERSITY OF MINNESOTA

- **C.1 - Title:** University of Minnesota, Series D
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91447AHT7, C.4 - ISIN: US91447AHT79, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $11977341.34
- **C.18.a - Value (excl. sponsor support):** $11977341.34
- **C.19 - Percentage of Net Assets:** 3.0100%
- **C.17 - Yield as of Reporting Date:** 2.4000%
- **C.11 - Maturity Date (WAM):** 2026-06-10
- **C.12 - Maturity Date (WAL):** 2026-06-10
- **C.13 - Final Legal Maturity Date:** 2026-06-10
- **C.10 - Ratings:** Moodys Long: P-1; Moodys Short: P-1; Standard and Poors Long: A-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 44: 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: 91514YRE5, C.4 - ISIN: US91514YRE58, C.3 - LEI: TEHUYFNKZR6XVWLGEU86
- **C.18 - Value (incl. sponsor support):** $14997828.00
- **C.18.a - Value (excl. sponsor support):** $14997828.00
- **C.19 - Percentage of Net Assets:** 3.7700%
- **C.17 - Yield as of Reporting Date:** 2.4000%
- **C.11 - Maturity Date (WAM):** 2026-07-15
- **C.12 - Maturity Date (WAL):** 2026-07-15
- **C.13 - Final Legal Maturity Date:** 2026-07-15
- **C.10 - Ratings:** Fitch Long: F1+; Fitch Short: F1+; Moodys Long: P-1; Moodys Short: P-1; Standard and Poors Long: A-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

## N-MFP: Signatures

**Registrant:** First American Funds Trust

**Date:** 2026-06-05

**By:** Brent G. Smith

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

**Title of Signing Officer:** Assistant Treasurer