# EDGAR Filing Document

**Accession Number:** 0001890141
**File Stem:** 0001752724-25-185599
**Filing Date:** 2025-8
**Character Count:** 77908
**Document Hash:** bd0f64a8651139b2afe25b81050e8eaf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-185599.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001752724-25-185599

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**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:** 251193237

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

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

## Series and Classes Contracts Data

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

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

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

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

### General Information

**Report for (YYYY-MM-DD):** 2025-07-31

**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:** 34 days

- **WAL:** 34 days

- **Total Value of Portfolio Securities:** $370663222.24

- **Amortized Cost of Portfolio Securities:** $370606607.61

- **Cash:** $9269.15

- **Total Other Assets:** $1668151.65

- **Total Liabilities:** $740548.65

- **Net Assets of Series:** $371600094.39

- **Number of Shares Outstanding (Series):** 371518860.4900

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2025-07-01 | $36010270.22              | $323540270.22              | 8.9000%                   | 79.9000%                   |
| 2025-07-02 | $26189472.61              | $313719472.61              | 6.5000%                   | 77.5000%                   |
| 2025-07-03 | $43219213.45              | $330749213.45              | 10.2000%                  | 78.3000%                   |
| 2025-07-07 | $32029192.75              | $306559192.75              | 8.0000%                   | 77.0000%                   |
| 2025-07-08 | $14881328.41              | $273707465.46              | 3.9000%                   | 72.4000%                   |
| 2025-07-09 | $11835157.78              | $290638311.93              | 3.2000%                   | 77.7000%                   |
| 2025-07-10 | $11835742.44              | $291148823.12              | 3.2000%                   | 77.7000%                   |
| 2025-07-11 | $11837872.89              | $288920953.57              | 3.2000%                   | 77.6000%                   |
| 2025-07-14 | $22802787.16              | $288344787.16              | 6.1000%                   | 77.6000%                   |
| 2025-07-15 | $44772763.76              | $289344403.21              | 12.0000%                  | 77.6000%                   |
| 2025-07-16 | $24212664.17              | $271680281.70              | 6.4000%                   | 72.3000%                   |
| 2025-07-17 | $23390823.94              | $270858441.47              | 6.2000%                   | 72.2000%                   |
| 2025-07-18 | $23392230.72              | $273834848.25              | 6.2000%                   | 72.4000%                   |
| 2025-07-21 | $30398933.11              | $269483933.11              | 8.1000%                   | 72.1000%                   |
| 2025-07-22 | $23389765.27              | $269199765.27              | 6.3000%                   | 72.0000%                   |
| 2025-07-23 | $17661398.88              | $263471398.88              | 4.8000%                   | 71.6000%                   |
| 2025-07-24 | $27708149.57              | $262883149.57              | 7.5000%                   | 71.5000%                   |
| 2025-07-25 | $32547325.10              | $269157325.10              | 8.7000%                   | 72.0000%                   |
| 2025-07-28 | $32551837.47              | $267741837.47              | 8.7000%                   | 71.9000%                   |
| 2025-07-29 | $32962337.76              | $268152337.76              | 8.8000%                   | 71.9000%                   |
| 2025-07-30 | $32960048.43              | $263695048.43              | 8.9000%                   | 71.6000%                   |
| 2025-07-31 | $33289269.15              | $267529269.15              | 8.9000%                   | 71.9000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-07-01 | 2.4000%             |
| 2025-07-02 | 2.3400%             |
| 2025-07-03 | 2.1300%             |
| 2025-07-07 | 2.0700%             |
| 2025-07-08 | 2.0300%             |
| 2025-07-09 | 2.0200%             |
| 2025-07-10 | 2.0200%             |
| 2025-07-11 | 2.0300%             |
| 2025-07-14 | 2.0400%             |
| 2025-07-15 | 2.0500%             |
| 2025-07-16 | 2.0900%             |
| 2025-07-17 | 2.1800%             |
| 2025-07-18 | 2.4300%             |
| 2025-07-21 | 2.5100%             |
| 2025-07-22 | 2.5800%             |
| 2025-07-23 | 2.6500%             |
| 2025-07-24 | 2.6900%             |
| 2025-07-25 | 2.8000%             |
| 2025-07-28 | 2.8300%             |
| 2025-07-29 | 2.8700%             |
| 2025-07-30 | 2.8600%             |
| 2025-07-31 | 2.8100%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-07-01 | 1.0001                      |
|  |  |
| 2025-07-02 | 1.0001                      |
|  |  |
| 2025-07-03 | 1.0001                      |
|  |  |
| 2025-07-07 | 1.0002                      |
|  |  |
| 2025-07-08 | 1.0002                      |
|  |  |
| 2025-07-09 | 1.0002                      |
|  |  |
| 2025-07-10 | 1.0002                      |
|  |  |
| 2025-07-11 | 1.0002                      |
|  |  |
| 2025-07-14 | 1.0002                      |
|  |  |
| 2025-07-15 | 1.0002                      |
|  |  |
| 2025-07-16 | 1.0002                      |
|  |  |
| 2025-07-17 | 1.0002                      |
|  |  |
| 2025-07-18 | 1.0002                      |
|  |  |
| 2025-07-21 | 1.0002                      |
|  |  |
| 2025-07-22 | 1.0002                      |
|  |  |
| 2025-07-23 | 1.0002                      |
|  |  |
| 2025-07-24 | 1.0002                      |
|  |  |
| 2025-07-25 | 1.0002                      |
|  |  |
| 2025-07-28 | 1.0002                      |
|  |  |
| 2025-07-29 | 1.0002                      |
|  |  |
| 2025-07-30 | 1.0002                      |
|  |  |
| 2025-07-31 | 1.0002                      |
|  |  |

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

### Class: Class Y

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $16248529.15

- **Number of Shares Outstanding:** 16238323.6100

- **Expense Reimbursement/Waiver:** 1655.55

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-07-01 | 1.0005          |
|  |  |
| 2025-07-02 | 1.0005          |
|  |  |
| 2025-07-03 | 1.0005          |
|  |  |
| 2025-07-07 | 1.0005          |
|  |  |
| 2025-07-08 | 1.0006          |
|  |  |
| 2025-07-09 | 1.0006          |
|  |  |
| 2025-07-10 | 1.0006          |
|  |  |
| 2025-07-11 | 1.0006          |
|  |  |
| 2025-07-14 | 1.0006          |
|  |  |
| 2025-07-15 | 1.0006          |
|  |  |
| 2025-07-16 | 1.0006          |
|  |  |
| 2025-07-17 | 1.0006          |
|  |  |
| 2025-07-18 | 1.0006          |
|  |  |
| 2025-07-21 | 1.0006          |
|  |  |
| 2025-07-22 | 1.0005          |
|  |  |
| 2025-07-23 | 1.0006          |
|  |  |
| 2025-07-24 | 1.0006          |
|  |  |
| 2025-07-25 | 1.0006          |
|  |  |
| 2025-07-28 | 1.0006          |
|  |  |
| 2025-07-29 | 1.0006          |
|  |  |
| 2025-07-30 | 1.0006          |
|  |  |
| 2025-07-31 | 1.0006          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-07-01 | $702973.33                | $273279.33              |
| 2025-07-02 | $0.00                     | $936535.60              |
| 2025-07-03 | $0.00                     | $1439669.95             |
| 2025-07-07 | $428100.16                | $0.00                   |
| 2025-07-08 | $498439.25                | $15031.24               |
| 2025-07-09 | $9479.60                  | $24317.52               |
| 2025-07-10 | $8197.24                  | $387665.56              |
| 2025-07-11 | $0.00                     | $45501.78               |
| 2025-07-14 | $44080.56                 | $322428.66              |
| 2025-07-15 | $171480.36                | $0.00                   |
| 2025-07-16 | $0.00                     | $399662.00              |
| 2025-07-17 | $52441.97                 | $0.00                   |
| 2025-07-18 | $213191.90                | $84600.60               |
| 2025-07-21 | $50139.69                 | $0.00                   |
| 2025-07-22 | $2401031.79               | $30295.05               |
| 2025-07-23 | $0.00                     | $2632557.54             |
| 2025-07-24 | $0.00                     | $619633.40              |
| 2025-07-25 | $235532.88                | $0.00                   |
| 2025-07-28 | $838946.28                | $0.00                   |
| 2025-07-29 | $0.00                     | $9458.28                |
| 2025-07-30 | $0.00                     | $744019.53              |
| 2025-07-31 | $109543.78                | $0.00                   |

**Total Gross Subscriptions (Month):** $5763578.79

**Total Gross Redemptions (Month):** $7964656.04

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-07-01 | 1.9500%           |
| 2025-07-02 | 1.8900%           |
| 2025-07-03 | 1.6800%           |
| 2025-07-07 | 1.6300%           |
| 2025-07-08 | 1.5900%           |
| 2025-07-09 | 1.5700%           |
| 2025-07-10 | 1.5700%           |
| 2025-07-11 | 1.5800%           |
| 2025-07-14 | 1.5900%           |
| 2025-07-15 | 1.6000%           |
| 2025-07-16 | 1.6400%           |
| 2025-07-17 | 1.7300%           |
| 2025-07-18 | 1.9800%           |
| 2025-07-21 | 2.0600%           |
| 2025-07-22 | 2.1300%           |
| 2025-07-23 | 2.2000%           |
| 2025-07-24 | 2.2400%           |
| 2025-07-25 | 2.3500%           |
| 2025-07-28 | 2.3900%           |
| 2025-07-29 | 2.4200%           |
| 2025-07-30 | 2.4100%           |
| 2025-07-31 | 2.3600%           |

**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:** $318663942.69

- **Number of Shares Outstanding:** 318622146.9000

- **Expense Reimbursement/Waiver:** 31647.34

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-07-01 | 1.0000          |
|  |  |
| 2025-07-02 | 1.0000          |
|  |  |
| 2025-07-03 | 1.0000          |
|  |  |
| 2025-07-07 | 1.0000          |
|  |  |
| 2025-07-08 | 1.0000          |
|  |  |
| 2025-07-09 | 1.0000          |
|  |  |
| 2025-07-10 | 1.0001          |
|  |  |
| 2025-07-11 | 1.0001          |
|  |  |
| 2025-07-14 | 1.0000          |
|  |  |
| 2025-07-15 | 1.0000          |
|  |  |
| 2025-07-16 | 1.0000          |
|  |  |
| 2025-07-17 | 1.0000          |
|  |  |
| 2025-07-18 | 1.0000          |
|  |  |
| 2025-07-21 | 1.0000          |
|  |  |
| 2025-07-22 | 1.0001          |
|  |  |
| 2025-07-23 | 1.0001          |
|  |  |
| 2025-07-24 | 1.0001          |
|  |  |
| 2025-07-25 | 1.0001          |
|  |  |
| 2025-07-28 | 1.0001          |
|  |  |
| 2025-07-29 | 1.0001          |
|  |  |
| 2025-07-30 | 1.0001          |
|  |  |
| 2025-07-31 | 1.0001          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-07-01 | $6096205.60               | $9408.78                |
| 2025-07-02 | $2239142.28               | $1215180.34             |
| 2025-07-03 | $19189836.48              | $621993.74              |
| 2025-07-07 | $0.17                     | $24698819.31            |
| 2025-07-08 | $697582.95                | $20929461.08            |
| 2025-07-09 | $47024.25                 | $4151507.95             |
| 2025-07-10 | $1053385.90               | $49522.47               |
| 2025-07-11 | $9066.44                  | $1991283.62             |
| 2025-07-14 | $302842.61                | $543140.32              |
| 2025-07-15 | $1284915.78               | $265104.97              |
| 2025-07-16 | $5138479.01               | $1617749.66             |
| 2025-07-17 | $458011.10                | $1296745.27             |
| 2025-07-18 | $2859148.96               | $0.00                   |
| 2025-07-21 | $1206904.25               | $5124340.50             |
| 2025-07-22 | $0.00                     | $2549632.44             |
| 2025-07-23 | $0.00                     | $2956996.36             |
| 2025-07-24 | $10413763.78              | $2484842.02             |
| 2025-07-25 | $6518625.70               | $486383.27              |
| 2025-07-28 | $34135.56                 | $2229197.32             |
| 2025-07-29 | $830467.31                | $317179.08              |
| 2025-07-30 | $0.00                     | $3716978.27             |
| 2025-07-31 | $3720017.23               | $352261.38              |

**Total Gross Subscriptions (Month):** $62099555.36

**Total Gross Redemptions (Month):** $77607728.15

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-07-01 | 2.2000%           |
| 2025-07-02 | 2.1400%           |
| 2025-07-03 | 1.9300%           |
| 2025-07-07 | 1.8700%           |
| 2025-07-08 | 1.8300%           |
| 2025-07-09 | 1.8200%           |
| 2025-07-10 | 1.8200%           |
| 2025-07-11 | 1.8300%           |
| 2025-07-14 | 1.8400%           |
| 2025-07-15 | 1.8500%           |
| 2025-07-16 | 1.8900%           |
| 2025-07-17 | 1.9800%           |
| 2025-07-18 | 2.2300%           |
| 2025-07-21 | 2.3100%           |
| 2025-07-22 | 2.3800%           |
| 2025-07-23 | 2.4500%           |
| 2025-07-24 | 2.4900%           |
| 2025-07-25 | 2.6000%           |
| 2025-07-28 | 2.6300%           |
| 2025-07-29 | 2.6700%           |
| 2025-07-30 | 2.6600%           |
| 2025-07-31 | 2.6100%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.4300%         | 0.0000%              |

### Class: Class T

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $7451325.35

- **Number of Shares Outstanding:** 7428676.3600

- **Expense Reimbursement/Waiver:** 1341.57

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-07-01 | 1.0028          |
|  |  |
| 2025-07-02 | 1.0028          |
|  |  |
| 2025-07-03 | 1.0028          |
|  |  |
| 2025-07-07 | 1.0028          |
|  |  |
| 2025-07-08 | 1.0028          |
|  |  |
| 2025-07-09 | 1.0028          |
|  |  |
| 2025-07-10 | 1.0028          |
|  |  |
| 2025-07-11 | 1.0028          |
|  |  |
| 2025-07-14 | 1.0028          |
|  |  |
| 2025-07-15 | 1.0028          |
|  |  |
| 2025-07-16 | 1.0028          |
|  |  |
| 2025-07-17 | 1.0028          |
|  |  |
| 2025-07-18 | 1.0028          |
|  |  |
| 2025-07-21 | 1.0028          |
|  |  |
| 2025-07-22 | 1.0028          |
|  |  |
| 2025-07-23 | 1.0028          |
|  |  |
| 2025-07-24 | 1.0030          |
|  |  |
| 2025-07-25 | 1.0030          |
|  |  |
| 2025-07-28 | 1.0030          |
|  |  |
| 2025-07-29 | 1.0030          |
|  |  |
| 2025-07-30 | 1.0030          |
|  |  |
| 2025-07-31 | 1.0030          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-07-01 | $1.89                     | $0.00                   |
| 2025-07-02 | $26609.92                 | $0.00                   |
| 2025-07-03 | $82.82                    | $0.00                   |
| 2025-07-07 | $324.50                   | $0.00                   |
| 2025-07-08 | $0.00                     | $0.00                   |
| 2025-07-09 | $0.00                     | $0.00                   |
| 2025-07-10 | $568.00                   | $0.00                   |
| 2025-07-11 | $0.00                     | $0.00                   |
| 2025-07-14 | $0.00                     | $0.00                   |
| 2025-07-15 | $680.65                   | $5000.00                |
| 2025-07-16 | $0.00                     | $0.00                   |
| 2025-07-17 | $0.00                     | $0.00                   |
| 2025-07-18 | $0.00                     | $0.00                   |
| 2025-07-21 | $0.00                     | $0.00                   |
| 2025-07-22 | $0.00                     | $1123.12                |
| 2025-07-23 | $282.00                   | $0.00                   |
| 2025-07-24 | $0.00                     | $8000000.00             |
| 2025-07-25 | $0.00                     | $0.00                   |
| 2025-07-28 | $0.00                     | $0.00                   |
| 2025-07-29 | $0.00                     | $16329.52               |
| 2025-07-30 | $0.01                     | $0.00                   |
| 2025-07-31 | $1404.20                  | $0.00                   |

**Total Gross Subscriptions (Month):** $29953.99

**Total Gross Redemptions (Month):** $8022452.64

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-07-01 | 2.0000%           |
| 2025-07-02 | 1.9500%           |
| 2025-07-03 | 1.7400%           |
| 2025-07-07 | 1.6800%           |
| 2025-07-08 | 1.6400%           |
| 2025-07-09 | 1.6200%           |
| 2025-07-10 | 1.6200%           |
| 2025-07-11 | 1.6400%           |
| 2025-07-14 | 1.6400%           |
| 2025-07-15 | 1.6500%           |
| 2025-07-16 | 1.7000%           |
| 2025-07-17 | 1.7800%           |
| 2025-07-18 | 2.0300%           |
| 2025-07-21 | 2.1100%           |
| 2025-07-22 | 2.1900%           |
| 2025-07-23 | 2.2500%           |
| 2025-07-24 | 2.2900%           |
| 2025-07-25 | 2.4000%           |
| 2025-07-28 | 2.4400%           |
| 2025-07-29 | 2.4800%           |
| 2025-07-30 | 2.4700%           |
| 2025-07-31 | 2.4200%           |

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

### Class: Class A

- **Minimum Initial Investment:** $1000.00

- **Net Assets of Class:** $29210949.73

- **Number of Shares Outstanding:** 29204352.9400

- **Expense Reimbursement/Waiver:** 2904.06

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-07-01 | 1.0001          |
|  |  |
| 2025-07-02 | 1.0002          |
|  |  |
| 2025-07-03 | 1.0001          |
|  |  |
| 2025-07-07 | 1.0002          |
|  |  |
| 2025-07-08 | 1.0002          |
|  |  |
| 2025-07-09 | 1.0002          |
|  |  |
| 2025-07-10 | 1.0002          |
|  |  |
| 2025-07-11 | 1.0002          |
|  |  |
| 2025-07-14 | 1.0002          |
|  |  |
| 2025-07-15 | 1.0002          |
|  |  |
| 2025-07-16 | 1.0002          |
|  |  |
| 2025-07-17 | 1.0002          |
|  |  |
| 2025-07-18 | 1.0002          |
|  |  |
| 2025-07-21 | 1.0002          |
|  |  |
| 2025-07-22 | 1.0002          |
|  |  |
| 2025-07-23 | 1.0002          |
|  |  |
| 2025-07-24 | 1.0002          |
|  |  |
| 2025-07-25 | 1.0002          |
|  |  |
| 2025-07-28 | 1.0002          |
|  |  |
| 2025-07-29 | 1.0002          |
|  |  |
| 2025-07-30 | 1.0002          |
|  |  |
| 2025-07-31 | 1.0002          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-07-01 | $62118.07                 | $250107.51              |
| 2025-07-02 | $57404.59                 | $36364.09               |
| 2025-07-03 | $89872.17                 | $146804.67              |
| 2025-07-07 | $72603.98                 | $0.00                   |
| 2025-07-08 | $59.76                    | $227959.43              |
| 2025-07-09 | $80485.13                 | $9059.21                |
| 2025-07-10 | $20.80                    | $113492.40              |
| 2025-07-11 | $22781.30                 | $223803.98              |
| 2025-07-14 | $0.00                     | $51789.67               |
| 2025-07-15 | $0.00                     | $180046.31              |
| 2025-07-16 | $64623.79                 | $10812.97               |
| 2025-07-17 | $0.00                     | $36126.31               |
| 2025-07-18 | $0.00                     | $9153.17                |
| 2025-07-21 | $147220.98                | $633534.45              |
| 2025-07-22 | $0.00                     | $6686.15                |
| 2025-07-23 | $12265.50                 | $158291.14              |
| 2025-07-24 | $112072.73                | $0.00                   |
| 2025-07-25 | $15793.34                 | $0.00                   |
| 2025-07-28 | $1221.23                  | $57552.92               |
| 2025-07-29 | $0.00                     | $76232.93               |
| 2025-07-30 | $0.00                     | $3664.29                |
| 2025-07-31 | $362630.60                | $504.90                 |

**Total Gross Subscriptions (Month):** $1101173.97

**Total Gross Redemptions (Month):** $2231986.50

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-07-01 | 1.6500%           |
| 2025-07-02 | 1.5900%           |
| 2025-07-03 | 1.3800%           |
| 2025-07-07 | 1.3200%           |
| 2025-07-08 | 1.2800%           |
| 2025-07-09 | 1.2700%           |
| 2025-07-10 | 1.2700%           |
| 2025-07-11 | 1.2800%           |
| 2025-07-14 | 1.2900%           |
| 2025-07-15 | 1.3000%           |
| 2025-07-16 | 1.3400%           |
| 2025-07-17 | 1.4300%           |
| 2025-07-18 | 1.6800%           |
| 2025-07-21 | 1.7600%           |
| 2025-07-22 | 1.8300%           |
| 2025-07-23 | 1.9000%           |
| 2025-07-24 | 1.9400%           |
| 2025-07-25 | 2.0500%           |
| 2025-07-28 | 2.0800%           |
| 2025-07-29 | 2.1200%           |
| 2025-07-30 | 2.1100%           |
| 2025-07-31 | 2.0600%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 75.2000%         | 0.0000%              |

### Class: Class V

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $25347.47

- **Number of Shares Outstanding:** 25360.6800

- **Expense Reimbursement/Waiver:** 8.39

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-07-01 | 0.9999          |
|  |  |
| 2025-07-02 | 0.9999          |
|  |  |
| 2025-07-03 | 0.9999          |
|  |  |
| 2025-07-07 | 0.9999          |
|  |  |
| 2025-07-08 | 1.0000          |
|  |  |
| 2025-07-09 | 1.0000          |
|  |  |
| 2025-07-10 | 1.0000          |
|  |  |
| 2025-07-11 | 1.0000          |
|  |  |
| 2025-07-14 | 1.0000          |
|  |  |
| 2025-07-15 | 1.0000          |
|  |  |
| 2025-07-16 | 1.0000          |
|  |  |
| 2025-07-17 | 1.0000          |
|  |  |
| 2025-07-18 | 1.0000          |
|  |  |
| 2025-07-21 | 1.0000          |
|  |  |
| 2025-07-22 | 0.9995          |
|  |  |
| 2025-07-23 | 0.9995          |
|  |  |
| 2025-07-24 | 0.9995          |
|  |  |
| 2025-07-25 | 0.9995          |
|  |  |
| 2025-07-28 | 0.9995          |
|  |  |
| 2025-07-29 | 0.9995          |
|  |  |
| 2025-07-30 | 0.9995          |
|  |  |
| 2025-07-31 | 0.9995          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-07-01 | $1.93                     | $5375.00                |
| 2025-07-02 | $121.29                   | $0.00                   |
| 2025-07-03 | $166.96                   | $0.00                   |
| 2025-07-07 | $0.00                     | $0.00                   |
| 2025-07-08 | $0.00                     | $0.00                   |
| 2025-07-09 | $0.00                     | $0.00                   |
| 2025-07-10 | $0.00                     | $0.00                   |
| 2025-07-11 | $0.00                     | $0.00                   |
| 2025-07-14 | $0.00                     | $0.00                   |
| 2025-07-15 | $0.00                     | $0.00                   |
| 2025-07-16 | $0.00                     | $0.00                   |
| 2025-07-17 | $0.00                     | $0.00                   |
| 2025-07-18 | $0.00                     | $0.00                   |
| 2025-07-21 | $0.00                     | $0.00                   |
| 2025-07-22 | $0.00                     | $85828.53               |
| 2025-07-23 | $0.00                     | $0.00                   |
| 2025-07-24 | $0.00                     | $88.33                  |
| 2025-07-25 | $0.00                     | $0.00                   |
| 2025-07-28 | $0.00                     | $0.00                   |
| 2025-07-29 | $0.00                     | $0.00                   |
| 2025-07-30 | $0.01                     | $0.00                   |
| 2025-07-31 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $290.19

**Total Gross Redemptions (Month):** $91291.86

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-07-01 | 2.1000%           |
| 2025-07-02 | 2.0400%           |
| 2025-07-03 | 1.8300%           |
| 2025-07-07 | 1.7700%           |
| 2025-07-08 | 1.7300%           |
| 2025-07-09 | 1.7200%           |
| 2025-07-10 | 1.7200%           |
| 2025-07-11 | 1.7300%           |
| 2025-07-14 | 1.7400%           |
| 2025-07-15 | 1.7500%           |
| 2025-07-16 | 1.7900%           |
| 2025-07-17 | 1.8800%           |
| 2025-07-18 | 2.1300%           |
| 2025-07-21 | 2.2100%           |
| 2025-07-22 | 2.2800%           |
| 2025-07-23 | 2.3500%           |
| 2025-07-24 | 2.3900%           |
| 2025-07-25 | 2.4900%           |
| 2025-07-28 | 2.5300%           |
| 2025-07-29 | 2.5600%           |
| 2025-07-30 | 2.5500%           |
| 2025-07-31 | 2.5100%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 96.0300%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: STEPPENWOLF THEATRE CO

- **C.1 - Title:** Illinois Finance Authority, Steppenwolf Theatre Company Project, Series 2019
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45204EU30, C.4 - ISIN: US45204EU302, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $13200000.00
- **C.18.a - Value (excl. sponsor support):** $13200000.00
- **C.19 - Percentage of Net Assets:** 3.5500%
- **C.17 - Yield as of Reporting Date:** 2.3500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2049-03-01
- **C.10 - Ratings:** Standard and Poors Long: AA-; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 2: TEXAS A&M UNIVERSITY

- **C.1 - Title:** Texas A & M University, Series B
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 88212L4P4, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14999458.50
- **C.18.a - Value (excl. sponsor support):** $14999458.50
- **C.19 - Percentage of Net Assets:** 4.0400%
- **C.17 - Yield as of Reporting Date:** 3.1700%
- **C.11 - Maturity Date (WAM):** 2025-09-18
- **C.12 - Maturity Date (WAL):** 2025-09-18
- **C.13 - Final Legal Maturity Date:** 2025-09-18
- **C.10 - Ratings:** Moodys Short: P-1; Fitch Short: F1+; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 3: CHRISTUS HEALTH OBL GROUP

- **C.1 - Title:** Tarrant County Cultural Education Facilities Finance Corp, Christus Health, Series 2008C-2
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 87638TDD2, C.4 - ISIN: US87638TDD28, C.3 - LEI: 549300ROY505NVTMMI25
- **C.18 - Value (incl. sponsor support):** $135000.00
- **C.18.a - Value (excl. sponsor support):** $135000.00
- **C.19 - Percentage of Net Assets:** 0.0400%
- **C.17 - Yield as of Reporting Date:** 2.2200%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2047-07-01
- **C.10 - Ratings:** Moodys Long: Aa1; Standard and Poors Short: A-1+; Standard and Poors Long: AA+; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 4: HOUSTON TX UTILITY SYS REVENUE

- **C.1 - Title:** City of Houston, Texas, Combined Utility System, Series 2004B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 442435XR9, C.4 - ISIN: US442435XR92, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $6000000.00
- **C.18.a - Value (excl. sponsor support):** $6000000.00
- **C.19 - Percentage of Net Assets:** 1.6100%
- **C.17 - Yield as of Reporting Date:** 2.4000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2034-05-15
- **C.10 - Ratings:** Standard and Poors Short: A-1; Moodys Short: VMIG1; Moodys Long: Aa1; Fitch Long: AAA; Fitch Short: F1; Standard and Poors Long: AA+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 5: HOUSTON TX INDEP SCH DIST

- **C.1 - Title:** Houston Independent School District, Limited Tax Refunding Bonds, Series 2025B
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 442403RD5, C.4 - ISIN: US442403RD52, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $8869740.25
- **C.18.a - Value (excl. sponsor support):** $8869740.25
- **C.19 - Percentage of Net Assets:** 2.3900%
- **C.17 - Yield as of Reporting Date:** 3.3200%
- **C.11 - Maturity Date (WAM):** 2026-02-15
- **C.12 - Maturity Date (WAL):** 2026-02-15
- **C.13 - Final Legal Maturity Date:** 2026-02-15
- **C.10 - Ratings:** Standard and Poors Long: AAA; Moodys Long: Aaa
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 6: LUCAS CNTY OH

- **C.1 - Title:** County of Lucas, Ohio Various Purpose Improvements Notes, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 54930LUL7, C.4 - ISIN: US54930LUL79, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3908968.65
- **C.18.a - Value (excl. sponsor support):** $3908968.65
- **C.19 - Percentage of Net Assets:** 1.0500%
- **C.17 - Yield as of Reporting Date:** 3.0100%
- **C.11 - Maturity Date (WAM):** 2025-10-10
- **C.12 - Maturity Date (WAL):** 2025-10-10
- **C.13 - Final Legal Maturity Date:** 2025-10-10
- **C.10 - Ratings:** Moodys Short: MIG1; Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 7: ST LOUIS UNIVERSITY

- **C.1 - Title:** Missouri Health and Educational Facilities Authority, Saint Louis University, Series 2008B-2
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 6069014P8, C.4 - ISIN: US6069014P85, C.3 - LEI: 549300IWTBCMX5JB3277
- **C.18 - Value (incl. sponsor support):** $3365000.00
- **C.18.a - Value (excl. sponsor support):** $3365000.00
- **C.19 - Percentage of Net Assets:** 0.9100%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2035-10-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Moodys Long: Aa1; Standard and Poors Long: AA+; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 8: OSF HEALTHCARE SYS OBLIG

- **C.1 - Title:** Illinois Finance Authority, Little Company Mary Hospital, Series 2008A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200FFV6, C.4 - ISIN: US45200FFV67, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $1435000.00
- **C.18.a - Value (excl. sponsor support):** $1435000.00
- **C.19 - Percentage of Net Assets:** 0.3900%
- **C.17 - Yield as of Reporting Date:** 2.3600%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2035-08-15
- **C.10 - Ratings:** Standard and Poors Long: AA+; Standard and Poors Short: A-1; Fitch Long: AA-; Fitch Short: F1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 9: PENNSYLVANIA ST TURNPIKE COMMI

- **C.1 - Title:** Pennsylvania Turnpike Commission Variable Rate Turnpike Revenue Bonds, Series 2020A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 709225AA4, C.4 - ISIN: US709225AA45, C.3 - LEI: 549300J8LLBYEYEXZJ24
- **C.18 - Value (incl. sponsor support):** $17820000.00
- **C.18.a - Value (excl. sponsor support):** $17820000.00
- **C.19 - Percentage of Net Assets:** 4.8000%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2050-12-01
- **C.10 - Ratings:** Moodys Long: Aa1; Moodys Short: VMIG1; Fitch Short: F1; Fitch Long: AA+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 10: MIAMISBURG OH

- **C.1 - Title:** City of Miamisburg, Montgomery County, Ohio Recreational Facilities, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 593864MK4, C.4 - ISIN: US593864MK43, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3012664.20
- **C.18.a - Value (excl. sponsor support):** $3012664.20
- **C.19 - Percentage of Net Assets:** 0.8100%
- **C.17 - Yield as of Reporting Date:** 3.0500%
- **C.11 - Maturity Date (WAM):** 2026-02-10
- **C.12 - Maturity Date (WAL):** 2026-02-10
- **C.13 - Final Legal Maturity Date:** 2026-02-10
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 11: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2010F
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABW3, C.4 - ISIN: US60528ABW36, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $7175000.00
- **C.18.a - Value (excl. sponsor support):** $7175000.00
- **C.19 - Percentage of Net Assets:** 1.9300%
- **C.17 - Yield as of Reporting Date:** 2.3700%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Long: AA-; Moodys Long: Aa2; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 12: LAKE CNTY OH

- **C.1 - Title:** County of Lake, Ohio, General Obligation Note, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 5094266D9, C.4 - ISIN: US5094266D91, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5007208.00
- **C.18.a - Value (excl. sponsor support):** $5007208.00
- **C.19 - Percentage of Net Assets:** 1.3500%
- **C.17 - Yield as of Reporting Date:** 3.1800%
- **C.11 - Maturity Date (WAM):** 2025-09-24
- **C.12 - Maturity Date (WAL):** 2025-09-24
- **C.13 - Final Legal Maturity Date:** 2025-09-24
- **C.10 - Ratings:** Moodys Short: MIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 13: ST IGNATIUS COLLEGE PREP

- **C.1 - Title:** Illinois Finance Authority, St. Ignatius College Prep Project, Series 2006
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200BN38, C.4 - ISIN: US45200BN384, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $12000000.00
- **C.18.a - Value (excl. sponsor support):** $12000000.00
- **C.19 - Percentage of Net Assets:** 3.2300%
- **C.17 - Yield as of Reporting Date:** 2.2500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2036-12-01
- **C.10 - Ratings:** Moodys Long: A1; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 14: 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:** 3.2600%
- **C.17 - Yield as of Reporting Date:** 2.5500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2035-02-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa3
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 15: NORTON HEALTHCARE OBLIG

- **C.1 - Title:** Louisville/Jefferson County Metro Government, Norton Healthcare, Inc, Series 2013C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 54659LAW4, C.4 - ISIN: US54659LAW46, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14990000.00
- **C.18.a - Value (excl. sponsor support):** $14990000.00
- **C.19 - Percentage of Net Assets:** 4.0300%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2043-10-01
- **C.10 - Ratings:** Fitch Long: A+; Standard and Poors Long: AA; Standard and Poors Short: A-1; Fitch Short: F1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 16: ANDERSON TWP OH PARK DIST

- **C.1 - Title:** Anderson Township Park District, Ohio, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 034150AV4, C.4 - ISIN: US034150AV42, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4114291.78
- **C.18.a - Value (excl. sponsor support):** $4114291.78
- **C.19 - Percentage of Net Assets:** 1.1100%
- **C.17 - Yield as of Reporting Date:** 3.1200%
- **C.11 - Maturity Date (WAM):** 2026-03-11
- **C.12 - Maturity Date (WAL):** 2026-03-11
- **C.13 - Final Legal Maturity Date:** 2026-03-11
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 17: PARKVIEW HEALTH SYSTEM

- **C.1 - Title:** Indiana Finance Authority, Parkview Health System Obligated Group, Series 2009C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45471AAQ5, C.4 - ISIN: US45471AAQ58, C.3 - LEI: 549300PS0PAS7NDSSI20
- **C.18 - Value (incl. sponsor support):** $2175000.00
- **C.18.a - Value (excl. sponsor support):** $2175000.00
- **C.19 - Percentage of Net Assets:** 0.5900%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2039-11-01
- **C.10 - Ratings:** Standard and Poors Long: AA+; Moodys Short: VMIG1; Standard and Poors Short: A-1; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 18: MACON GA WTR AUTH

- **C.1 - Title:** Macon Water Authority, Tax-Exempt Adjustable Mode Water & Sewer Refunding and Improvement Revenue Bonds, Series 2018B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 555758HX2, C.4 - ISIN: US555758HX27, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $17120000.00
- **C.18.a - Value (excl. sponsor support):** $17120000.00
- **C.19 - Percentage of Net Assets:** 4.6100%
- **C.17 - Yield as of Reporting Date:** 2.3200%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2038-10-01
- **C.10 - Ratings:** Standard and Poors Long: AA; Moodys Long: Aa2; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: 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):** $4720000.00
- **C.18.a - Value (excl. sponsor support):** $4720000.00
- **C.19 - Percentage of Net Assets:** 1.2700%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Moodys Long: Aa1; Fitch Short: F1; Fitch Long: A; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 20: UNIVERSITY OF MICHIGAN

- **C.1 - Title:** University of Michigan, Series B
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91445AR76, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $8999919.90
- **C.18.a - Value (excl. sponsor support):** $8999919.90
- **C.19 - Percentage of Net Assets:** 2.4200%
- **C.17 - Yield as of Reporting Date:** 2.8800%
- **C.11 - Maturity Date (WAM):** 2025-11-04
- **C.12 - Maturity Date (WAL):** 2025-11-04
- **C.13 - Final Legal Maturity Date:** 2025-11-04
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 21: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2010I
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABZ6, C.4 - ISIN: US60528ABZ66, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $2880000.00
- **C.18.a - Value (excl. sponsor support):** $2880000.00
- **C.19 - Percentage of Net Assets:** 0.7800%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2035-11-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Standard and Poors Long: AA-; Moodys Long: Aa2; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2010L
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ACC6, C.4 - ISIN: US60528ACC62, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $1800000.00
- **C.18.a - Value (excl. sponsor support):** $1800000.00
- **C.19 - Percentage of Net Assets:** 0.4800%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2035-11-01
- **C.10 - Ratings:** Standard and Poors Long: AA-; Moodys Short: VMIG1; Standard and Poors Short: A-1+; Moodys Long: Aa2
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 23: ESSEX CNTY NJ IMPT AUTH

- **C.1 - Title:** Essex County Improvement Authority, New Jersey, Series 1986
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 296809AC0, C.4 - ISIN: US296809AC03, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $330000.00
- **C.18.a - Value (excl. sponsor support):** $330000.00
- **C.19 - Percentage of Net Assets:** 0.0900%
- **C.17 - Yield as of Reporting Date:** 2.9500%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2026-07-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa2
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 24: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2009B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABJ2, C.4 - ISIN: US60528ABJ25, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $2280000.00
- **C.18.a - Value (excl. sponsor support):** $2280000.00
- **C.19 - Percentage of Net Assets:** 0.6100%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Long: Aa2; Moodys Short: VMIG1; Standard and Poors Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 25: HAMILTON OH

- **C.1 - Title:** City of Hamilton, Ohio, General Obligation Bond, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 407756P82, C.4 - ISIN: US407756P829, C.3 - LEI: 549300NCXYTNZWHRP508
- **C.18 - Value (incl. sponsor support):** $4336850.16
- **C.18.a - Value (excl. sponsor support):** $4336850.16
- **C.19 - Percentage of Net Assets:** 1.1700%
- **C.17 - Yield as of Reporting Date:** 3.1100%
- **C.11 - Maturity Date (WAM):** 2025-12-17
- **C.12 - Maturity Date (WAL):** 2025-12-17
- **C.13 - Final Legal Maturity Date:** 2025-12-17
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 26: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2007B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528AAT1, C.4 - ISIN: US60528AAT16, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $2990000.00
- **C.18.a - Value (excl. sponsor support):** $2990000.00
- **C.19 - Percentage of Net Assets:** 0.8000%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Standard and Poors Long: AA-; Moodys Short: VMIG1; Moodys Long: Aa2; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 27: NEW YORK CITY NY TRANSITIONAL

- **C.1 - Title:** New York City Transitional Finance Authority Future Tax Secured Subordinate Bonds, Series 2013C-5
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 64971QQ63, C.4 - ISIN: US64971QQ635, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $15250000.00
- **C.18.a - Value (excl. sponsor support):** $15250000.00
- **C.19 - Percentage of Net Assets:** 4.1000%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2041-11-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Fitch Short: F1; Fitch Long: AAA; Moodys Short: VMIG1; Standard and Poors Long: AAA; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 28: BROWN UNIVERSITY

- **C.1 - Title:** Rhode Island Health and Educational Building Corp, Brown University, Series 2003B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 762243CA9, C.4 - ISIN: US762243CA99, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $9750000.00
- **C.18.a - Value (excl. sponsor support):** $9750000.00
- **C.19 - Percentage of Net Assets:** 2.6200%
- **C.17 - Yield as of Reporting Date:** 2.2500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2043-09-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa1; Standard and Poors Short: A-1+; Standard and Poors Long: AA+
- **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 29: MIAMI-DADE CNTY FL SPL OBLIG

- **C.1 - Title:** Miami-Dade County, Florida, Juvenile Courthouse Project, Series 2003B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 59333NJB0, C.4 - ISIN: US59333NJB01, C.3 - LEI: 549300QG0NBD9HULR263
- **C.18 - Value (incl. sponsor support):** $265000.00
- **C.18.a - Value (excl. sponsor support):** $265000.00
- **C.19 - Percentage of Net Assets:** 0.0700%
- **C.17 - Yield as of Reporting Date:** 2.4500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2043-04-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Short: A-1; Standard and Poors Long: AA+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 30: ASPIRUS INC OBL GROUP

- **C.1 - Title:** Wisconsin Health and Educational Facilities Authority, Aspirus Wasau Hospital, Inc., Series 2004
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 97710BLW0, C.4 - ISIN: US97710BLW09, C.3 - LEI: 549300ISNGXS0VHGVD41
- **C.18 - Value (incl. sponsor support):** $10575000.00
- **C.18.a - Value (excl. sponsor support):** $10575000.00
- **C.19 - Percentage of Net Assets:** 2.8500%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2034-08-15
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Long: AAA; Standard and Poors Short: A-1+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 31: EXXON CAPITAL VENTURES

- **C.1 - Title:** Gulf Coast Industrial Development Authority, ExxonMobil Project, Series 2012
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 402207AD6, C.4 - ISIN: US402207AD61, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $17880000.00
- **C.18.a - Value (excl. sponsor support):** $17880000.00
- **C.19 - Percentage of Net Assets:** 4.8100%
- **C.17 - Yield as of Reporting Date:** 2.8000%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2041-11-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Short: A-1+; Moodys Long: Aa2; Standard and Poors Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 32: POWELL OH

- **C.1 - Title:** City of Powell, Ohio, Bond Anticipation Notes, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 739133HB5, C.4 - ISIN: US739133HB52, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5562754.98
- **C.18.a - Value (excl. sponsor support):** $5562754.98
- **C.19 - Percentage of Net Assets:** 1.5000%
- **C.17 - Yield as of Reporting Date:** 3.4200%
- **C.11 - Maturity Date (WAM):** 2025-08-20
- **C.12 - Maturity Date (WAL):** 2025-08-20
- **C.13 - Final Legal Maturity Date:** 2025-08-20
- **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 33: PORT TACOMA WA REVENUE

- **C.1 - Title:** Port of Tacoma, Subordinate Lien Revenue Bonds, Series 2008B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 735439NE7, C.4 - ISIN: US735439NE76, C.3 - LEI: 549300MLYO8L64QKXV81
- **C.18 - Value (incl. sponsor support):** $19000000.00
- **C.18.a - Value (excl. sponsor support):** $19000000.00
- **C.19 - Percentage of Net Assets:** 5.1100%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2044-12-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa1; Standard and Poors Long: AA+; Standard and Poors Short: A-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 34: KING COUNTY WASH DIR ASN

- **C.1 - Title:** Kings County Washington, Series A
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 49476VJC8, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $10000473.00
- **C.18.a - Value (excl. sponsor support):** $10000473.00
- **C.19 - Percentage of Net Assets:** 2.6900%
- **C.17 - Yield as of Reporting Date:** 2.9300%
- **C.11 - Maturity Date (WAM):** 2025-09-09
- **C.12 - Maturity Date (WAL):** 2025-09-09
- **C.13 - Final Legal Maturity Date:** 2025-09-09
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: P-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 35: DELAWARE OH

- **C.1 - Title:** City of Delaware, Ohio, Fire Station & Land Acquistion
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 246181UP4, C.4 - ISIN: US246181UP49, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5024808.00
- **C.18.a - Value (excl. sponsor support):** $5024808.00
- **C.19 - Percentage of Net Assets:** 1.3500%
- **C.17 - Yield as of Reporting Date:** 3.1600%
- **C.11 - Maturity Date (WAM):** 2026-04-16
- **C.12 - Maturity Date (WAL):** 2026-04-16
- **C.13 - Final Legal Maturity Date:** 2026-04-16
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 36: UNIVERSITY OF MINNESOTA

- **C.1 - Title:** University of Michigan, Series D
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91447AHQ3, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $11976920.95
- **C.18.a - Value (excl. sponsor support):** $11976920.95
- **C.19 - Percentage of Net Assets:** 3.2200%
- **C.17 - Yield as of Reporting Date:** 2.8900%
- **C.11 - Maturity Date (WAM):** 2025-10-15
- **C.12 - Maturity Date (WAL):** 2025-10-15
- **C.13 - Final Legal Maturity Date:** 2025-10-15
- **C.10 - Ratings:** Moodys Short: P-1; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 37: UNIVERSITY OF TEXAS SYS

- **C.1 - Title:** University of Texas, Series A
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91514YHA4, C.3 - LEI: TEHUYFNKZR6XVWLGEU86
- **C.18 - Value (incl. sponsor support):** $12997435.10
- **C.18.a - Value (excl. sponsor support):** $12997435.10
- **C.19 - Percentage of Net Assets:** 3.5000%
- **C.17 - Yield as of Reporting Date:** 2.8900%
- **C.11 - Maturity Date (WAM):** 2025-12-10
- **C.12 - Maturity Date (WAL):** 2025-12-10
- **C.13 - Final Legal Maturity Date:** 2025-12-10
- **C.10 - Ratings:** Moodys Short: P-1; Standard and Poors Short: A-1+; Fitch Short: F1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 38: HALIFAX HOSP MED CTR OBL

- **C.1 - Title:** Halifax Hospital Medical Center Daytona Beach, Florida, Series 2008
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 405815HE4, C.4 - ISIN: US405815HE45, C.3 - LEI: 549300H6HDJUXLEMUW23
- **C.18 - Value (incl. sponsor support):** $9780000.00
- **C.18.a - Value (excl. sponsor support):** $9780000.00
- **C.19 - Percentage of Net Assets:** 2.6300%
- **C.17 - Yield as of Reporting Date:** 2.4000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2048-06-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Fitch Short: F1+; Fitch Long: AA; Standard and Poors Long: AA
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 39: MACALESTER COLLEGE

- **C.1 - Title:** Minnesota Higher Education Facilities Authority, Macalester College, Series Five-Q
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 6041518J2, C.4 - ISIN: US6041518J26, C.3 - LEI: BSGEFEIOM18Y80CKCV46
- **C.18 - Value (incl. sponsor support):** $9825000.00
- **C.18.a - Value (excl. sponsor support):** $9825000.00
- **C.19 - Percentage of Net Assets:** 2.6400%
- **C.17 - Yield as of Reporting Date:** 2.3500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2033-03-01
- **C.10 - Ratings:** Moodys Long: Aa3; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 40: UNIVERSITY OF CHICAGO MEDICAL

- **C.1 - Title:** Illinois Finance Authority, The University of Chicago Medical Center, Series 2018B
- **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):** $790000.00
- **C.18.a - Value (excl. sponsor support):** $790000.00
- **C.19 - Percentage of Net Assets:** 0.2100%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2044-08-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Moodys Long: A1; Fitch Long: AA-; Standard and Poors Long: A+; Fitch Short: F1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 41: THE ADLER PLANETARIUM

- **C.1 - Title:** Illinois Educational Facilities Authority, The Adler Planetarium, Series 1997
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 452001TU4, C.4 - ISIN: US452001TU47, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5100000.00
- **C.18.a - Value (excl. sponsor support):** $5100000.00
- **C.19 - Percentage of Net Assets:** 1.3700%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2031-04-01
- **C.10 - Ratings:** Standard and Poors Short: A-1; Standard and Poors Long: A
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 42: MARYLAND ST HLTH & HGR EDUCTNL

- **C.1 - Title:** Maryland Health and Higher Educational Facilities Authority, Series 1985B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 574215RD3, C.4 - ISIN: US574215RD35, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $6205000.00
- **C.18.a - Value (excl. sponsor support):** $6205000.00
- **C.19 - Percentage of Net Assets:** 1.6700%
- **C.17 - Yield as of Reporting Date:** 2.4500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2035-04-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: A1; Fitch Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 43: ADAMS & ARAPAHOE CNTYS CO JT S

- **C.1 - Title:** Adams & Arapahoe Counties, Colorado, General Obligation, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 0054824F8, C.4 - ISIN: US0054824F85, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3029474.70
- **C.18.a - Value (excl. sponsor support):** $3029474.70
- **C.19 - Percentage of Net Assets:** 0.8200%
- **C.17 - Yield as of Reporting Date:** 3.0300%
- **C.11 - Maturity Date (WAM):** 2025-12-01
- **C.12 - Maturity Date (WAL):** 2025-12-01
- **C.13 - Final Legal Maturity Date:** 2025-12-01
- **C.10 - Ratings:** Moodys Long: Aa1; Standard and Poors Long: AA
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 44: 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:** 1.9400%
- **C.17 - Yield as of Reporting Date:** 2.3700%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2048-04-01
- **C.10 - Ratings:** Standard and Poors Long: AA+; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 45: 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:** 5.3700%
- **C.17 - Yield as of Reporting Date:** 2.4000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2038-02-15
- **C.10 - Ratings:** Moodys Long: Aaa; Moodys Short: VMIG1; Standard and Poors Short: A-1+; Standard and Poors Long: AAA
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 46: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2011A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ACD4, C.4 - ISIN: US60528ACD46, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $965000.00
- **C.18.a - Value (excl. sponsor support):** $965000.00
- **C.19 - Percentage of Net Assets:** 0.2600%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2035-11-01
- **C.10 - Ratings:** Standard and Poors Short: A-1+; Moodys Short: VMIG1; Moodys Long: Aa2; Standard and Poors Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 47: 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:** 0.8500%
- **C.17 - Yield as of Reporting Date:** 2.3500%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2028-08-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa2
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 48: WYOMING OH

- **C.1 - Title:** City of Wyoming, Ohio, General Obligation Note, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 983425FE4, C.4 - ISIN: US983425FE45, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $1302254.07
- **C.18.a - Value (excl. sponsor support):** $1302254.07
- **C.19 - Percentage of Net Assets:** 0.3500%
- **C.17 - Yield as of Reporting Date:** 3.2200%
- **C.11 - Maturity Date (WAM):** 2025-10-15
- **C.12 - Maturity Date (WAL):** 2025-10-15
- **C.13 - Final Legal Maturity Date:** 2025-10-15
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 49: 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):** $9300000.00
- **C.18.a - Value (excl. sponsor support):** $9300000.00
- **C.19 - Percentage of Net Assets:** 2.5000%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Fitch Long: AA-; Moodys Short: VMIG1; Standard and Poors Short: A-1; Standard and Poors Long: AA+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** First American Funds Trust

**Date:** 2025-08-07

**By:** Brent G. Smith

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

**Title of Signing Officer:** Assistant Treasurer